“Tidbits From TNT” Sunday 6-16-2024

TNT:

Tishwash:  this was in Iraq's news

Venezuelan Minister: We are close to producing one million barrels of oil per day

Venezuelan Oil Minister, Pedro Telechia, announced that his country is close to producing one million barrels of oil per day for the first time in more than five years.

“We can officially say that we have exceeded 950,000 barrels per day this month,” Telechia said during an official event in the capital, Caracas, adding, “We are very close to producing one million barrels.”

Oil production peaked in 2008 with 3.5 million barrels per day, but declined years later due to strict US sanctions.
Last month, Washington re-imposed sanctions on Caracas six months after easing them, in response to "the government's continued repression of opponents before the July elections."

However, Spanish energy giant Repsol has received permission from the United States to continue operating in Venezuela.
The Venezuelan Oil Minister said last month that he was optimistic that Venezuelan oil production would reach one million barrels per day soon, for reasons including the agreement with Repsol.

Telechia is also the president of the Venezuelan oil giant Petroleos de Venezuela (Pedivesa).
Venezuela's production reached 910,000 barrels per day by the end of May, according to the Organization of the Petroleum Exporting Countries (OPEC).
The country's production fell to less than one million barrels per day in 2019 when the United States imposed sanctions following the re-election of President Nicolas Maduro a year ago.

By 2020, the number was less than 400 thousand barrels.n  link

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CandyKisses: Sudanese on Eid: We are committed to the sovereignty of Iraq and the extension of the hand of law

On Sunday, Iraqi Prime Minister Mohammed Shia al-Sudani congratulated Iraqis on the occasion of Eid al-Adha.

Al-Sudani expressed, in a statement received by Shafaq News Agency, his calls for more goodness, security and stability for the Iraqi people and the peoples of the Arab and Islamic worlds, and also called for mercy and victory for the people of Gaza, stressing the need to respond to aggression from them.

Al-Sudani stressed the renewal of the covenant with the Iraqi people of all categories and sects to continue to work hard and diligence to achieve all the provisions of the government program, which aims to meet the demands and aspirations of the Iraqi people and face the challenges and difficulties that stand in their way.

Al-Sudani added that the government continues to shoulder its responsibilities towards Iraq's sovereignty, extending the hand of law, liberalizing and developing the economy, achieving progress and development, creating creative opportunities, and combating social ills and corruption throughout the country.

The Acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, also offered his congratulations, on the occasion of Eid al-Adha, and called in a statement, received by Shafaq News Agency, for concerted efforts to enhance security and stability and support the construction and reconstruction movement.

The Acting Speaker of the House of Representatives renewed his call on the international community to stop the Zionist aggression against Palestine and the countries of the region, stressing the need for serious and immediate action in order to break the siege on the Gaza Strip to bring in urgent humanitarian aid.

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CandyKisses:  Iraq's oil exports to America rise significantly in a week

The US Energy Information Administration announced on Sunday that Iraq's oil exports to America rose during the past week.

The administration said in a table seen by Shafaq News Agency, "The average US imports of crude oil during the past week from 9 major countries amounted to 6.120 million barrels per day, up by 363 thousand barrels per day from the previous week, which amounted to 5.757 million barrels per day."

She added that "Iraq's oil exports to America amounted to 228,000 barrels per day last week, up by 102,000 barrels per day from the previous week, which amounted to 126,000 barrels per day."

The administration pointed out that "the most oil revenues of America during the past week came from Canada at a rate of 3.974 million barrels per day, followed by Mexico with an average of 987 thousand barrels per day, followed by Saudi Arabia with an average of 278 thousand barrels per day, and from Nigeria at a rate of 208 thousand barrels per day."

According to the table, "the amount of US imports of crude oil from Ecuador was at a rate of 149,000 barrels per day, from Brazil at a rate of 134,000 barrels per day, from Libya at a rate of 87,000 barrels per day, and from Colombia at a rate of 75,000 barrels per day."

Mot: ... Have a Very Happy ~~~~~~

Mot: .. the ole chip off of ~~~

Iraq News Highlights and Points To Ponder Late Saturday Evening 6-14-24

Iraq News Highlights and Points To Ponder Late Saturday Evening 6-14-24

Iraqis Resort To “Gold Bullion” Instead Of Money, And The Banking System Is Dying

Economy |Today,  Baghdad today - Baghdad    Today, Wednesday (June 12, 2024), financial affairs expert Mustafa Hantoush revealed the reason why Iraqis are resorting to purchasing gold bullion in abundance during the current period.

Hantoush said in an interview with "Baghdad Today" that "recently, the demand for buying gold bullion has increased significantly by citizens, especially those with large sums of money. They have begun to save that money through these bullion instead of depositing their money in banks."

He stated that "the reason why citizens resort to buying gold bullion to save their money is as a result of the weakness of the banking system, lack of confidence in this system, and fear for their money due to American sanctions. This is why we see the majority of Iraqis turning towards gold bullion, especially in light of the high prices of the yellow metal and the stability of this price and its lack of fluctuation like the dollar."

From mid-December 2022 until now, the Iraqi dinar has continued to fall against the US dollar, until it reached the level of 1,610 dinars against one dollar at a time when the official price of the dollar is 1,300 dinars.

With the decline of the national currency and the rise in poverty and unemployment rates, Iraqi gold markets recorded a large demand from customers to buy the yellow metal amid warnings against buying counterfeit ones.

According to data from the specialized website “Bloomberg” , Iraq bought 33.9 tons of gold in the year 2022, while the Turkish Consul General in Erbil Hakan Karaçay revealed that Iraq imported Turkish gold worth $1.5 billion during the year 2021.

Iraq's gold reserves witnessed a noticeable increase during the month of February 2024, as International Monetary Fund data showed that Iraq had increased its possession of the precious metal by 3,079 tons, bringing the total to 145,661 tons.

This increase indicates Iraq's continued strategy to diversify its foreign reserves and enhance financial and monetary stability in the long term.

This step by Iraq comes at a time when the world is witnessing a rise in gold prices, as the price reached its highest level in its history last month above $2,400 per ounce.

Many simultaneous factors are strengthening the record levels of gold, especially in light of the escalation of geopolitical tensions around the world, and in light of the state of “uncertainty” surrounding the global economy, which supports the trend towards the precious metal as a traditional safe haven in the face of market fluctuations and dire scenarios that impose themselves on the market. the scene.

Iraq is among the countries that possess large amounts of gold reserves in the Arab region, as it ranks fourth after the Kingdom of Saudi Arabia, Algeria, and Morocco.   LINK

Golden Days For Sellers...The Recession Hits The “Eid Sacrifices” Market In Diyala And The Prices Are “Crazy”

Baghdad today – Diyala   With the approaching Eid al-Adha, the market for selling sacrificial animals in the largest site for selling livestock and sheep in the country near the city of Baqubah is witnessing a state that resembles a depression, with a very limited demand for buying them due to the economic situation and the exaggerated rise in prices.

Ayser Khaled, a sheep and livestock trader, said in an interview with “Baghdad Today” that “prices are high according to the principle of supply and demand, and imports did not contribute to lowering prices. On the contrary, they rose by up to 10% in recent weeks,” pointing out that Eid al-Adha represents the golden days for us. To sell our sacrifices, but according to our vision of the situation, we are in a state similar to a depression.”

He acknowledged, "Prices are the reason and the matter is not in our hands. We are dealing with the market situation and we hope that there will be a decline, but according to what we see, the matter is very difficult."

As for Jihad Abu Mustafa, a livestock and sheep trader, he pointed out that there are limited segments of people who buy sacrifices on Eid, not including the poor and those with limited income, pointing out that the prices of sheep range from 400-700 thousand dinars and reach one million dinars, which in the eyes of simple people is a large sum. .

He added in an interview with “Baghdad Today” that “importing has not changed the equation and prices are still high,” noting that “the demand for purchases does not exceed 30% so far.”

As for Ibrahim Ali Al-Qaisi, a retired government employee, he bought a sacrifice for 600,000 dinars and said, “The prices are exaggerated and retirees have to wait for months in order to collect the sacrifice amount.”

He continued in an interview with "Baghdad Today", "We hope that the difficult economic conditions will change and that the government will address the issue of exaggerated meat prices in general because acute poverty has begun to creep into the regions."

With the advent of Eid, Muslims buy sacrificial animals to slaughter them after the end of the Arafat pause, and then distribute their meat to relatives, neighbors, the poor and the destitute.

The health authorities in Iraq warn all citizens against buying meat sold by street vendors due to hemorrhagic fever.

The indiscriminate slaughter of livestock represents the biggest challenge facing the Ministry of Health, at a time when the number of hemorrhagic fever infections is witnessing a significant increase, with a death rate of up to 40 percent.

On days like these, merchants are accustomed to having their livestock more in demand than at other times of the year, but the exorbitant high prices prompted many people to buy sacrificial animals weeks before this occasion.   LINK

The House Of Representatives Sends The Decision To Approve The Budget Schedules To The Presidency Of The Republic

Friday 14, June 2024 02:58 | Political Number of readings: 356   Baghdad / NINA / The General Secretariat of the House of Representatives announced that the decision to approve the 2024 general budget schedules had been sent to the Presidency of the Republic for approval./End 5   https://ninanews.com/Website/News/Details?Key=1132505

Economy   Parliamentary Integrity: Extending the Basra Pipeline - An Obstacle To Wasting Iraqi Money

Information / Baghdad..   Member of the Parliamentary Integrity Committee, Hadi Al-Salami, said today, Saturday, that laying the Basra-Oqaba pipeline is a waste of Iraqi funds.

Al-Salami told Al-Maalouma Agency, “There are many comments about spending billions on extending the Basra-Aqaba pipeline, as the government’s insistence on extending the pipeline raises suspicions of corruption related to wasting public money.”

He added, "Jordan's position on Iraq is hostile, and it is not possible to sign a memorandum of understanding or agreement with this country."

He explained that "the extension of the oil pipeline from Basra to Aqaba has major suspicions of corruption, calling on Parliament and the regulatory authorities to stop opposing the completion of the pipeline project." Ended / 25h  LINK

Provoking Thoughts and Points To Ponder On Adversity:

Pain makes man think. Thought makes man wise. Wisdom makes life endurable.  - John Patrick

Time engraves our faces with all the tears we have not shed.  - Natalie Clifford Barney

Suffering raises up those souls that are truly great; it is only small souls that are made mean-spirited by it.  - Alexandra David-Neel

To live is to suffer, to survive is to find some meaning in the suffering.  - Roberta Flack

If you suffer, thank God! It is a sure sign that you are alive.  - Elbert Hubbard

Suffering is also one of the ways of knowing you're alive.  - Jessamyn West

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Elon Musk: 5 Things Poor People Waste Money On

Elon Musk: 5 Things Poor People Waste Money On

David Nadelle   Thu, June 13, 2024

Despite a rough start to 2024, Elon Musk is once again the world’s richest person, according to Forbes, and in the spotlight this week due to the vote to approve his vote-of-confidence $56 billion pay package being held later today and a sexual harassment lawsuit filed against him and SpaceX recently by eight former employees.

Even the most news-avoidant person will know who Musk is. If there is one thing we can say with certainty, it’s that the SpaceX and Tesla, Inc. CEO knows how to stir the pot like few others. Musk’s social media influence and business acumen is always up for debate. However, as Aeon reported, “Not since Steve Jobs has an American technologist captured the cultural imagination like Musk.”

We can assume that if Musk wants something frivolous, he buys it. However, there isn’t a great deal of wasteful spending by Musk, who has talked in the past about the need to trim down excessive consumer spending by selling off unused real estate and driving his own Teslas (although he has owned a number of valuable collectible cars).

1. Overpriced Real Estate

According to a 2020 story by CNBC Make It, Musk owned four properties in the Los Angeles area worth around $40 million at the time. However, this was after selling off a few Bel-Air properties and after announcing he vowed to “own no house” as a dedication against being seen as materialistic. He now resides in a spartan two-bedroom house in Bocca Chica near Space X’s HQ.

2. Too Much Car

Many Americans get into serious debt by buying a vehicle out of their income range. Like most billionaires, it would be difficult to think that Musk would buy overpriced, depreciating assets with additional financial commitments to fuel, insurance, repairs and maintenance too. That doesn’t mean he hasn’t splashed out on some collectible cars in the past.

However, although he owns or has owned a 1920 Ford Model T, a Jaguar Series 1 1967 E-type Roadster, a 1978 BMW 320i and a rare McLaren F1, he mainly sticks to driving a Tesla Model S or a Cybertruck now, per CNBC.

3. Dining Out and Ordering Food In

To Read More Go To Original Article Here:

https://mail.yahoo.com/d/compose/8959995993?reason=invalid_crumb

News, Rumors and Opinions Sunday AM 6-16-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Sun. 16 June 2024

Compiled Sun. 16 June 2024 12:01 am EST by Judy Byington

Judy Note: Members of the Cabal are desperate for money, and they are targeting those involved in the Global Currency Reset. Be aware of anyone contacting you asking for personal information. It has been advised that “if you are contacted by any unknown party, please note their name and contact details. Do not provide any information or sign anything. Now is the time when many criminal individuals and organizations will try to obtain data.”

Sat. 15 June 2024 Mike Bara: “I just heard from a bond broker who was waiting to be paid commissions by the US government for bringing in historic bonds. He said he would be paid on Tues.18 June 2024.”

Fri. 14 June 2024 Wolverine:

“It has started. A lot of Bond People are getting paid. It’s the biggest transfer of wealth in the history of this planet. I am absolutely overwhelmed. Looks like things are kicking off – I had three different intel saying Zurich has started. People are receiving notifications and having contracts signed, some are under NDA and will be waiting for their blessing by next week.  If you say that is not true, it is because it is not yet your turn. It is a process.

“Soon we will get messages to come through to be ready. I was quite emotional, because I am in that platform, soon I will be signing that NDA, but when that happens, I am sorry, you will not hear from me because I will have to shut down, but it depends on what the NDA says, what you can and cannot say, but if I cannot talk about Intel I cannot do the live chat, but If I can talk about it, I will do more live chats. 

I received another message from Brazil. They received their contracts, signed their NDA and they are waiting for their blessing.  One person from Colombia called me and said: “Wolvie, Wolvie, I received the email!  Oh my God, I received my email! This person has had a very hard time and barely able to survive and he was praising God that this was to finally come through. He will receive those funds by next week.  

I am not hearing much from Reno. Hopefully, I will get some news coming from there. The admiral needs to go first, so we will get news for the 4A group, that is a private for that group, so the Admiral needs to go first. 

Notifications should be coming out – HOLD ON. Just received a message that HE just received his blessing!) There you go guys, just got a pop-up message! It is a special code that describes his blessing. If you are a bondholder that registered with a group, it is coming your way as soon as they arrange payout for all of their members.

For the Tier4B, for currency/bonds, we just need those notifications. I am sure we will receive those notifications for currency on the weekend. I am very positive we will receive that notification. Some are asking about “why cell phone notifications”? That is for bondholders in groups. The leaders will have phone numbers for their members and send texts to all members. There is a different set up with different groups. In my group we have emails, most have emails.

Fri. 14 June 2024 member friend in Zurich: “Dear Mr XXY, I hope you have a good day. I would like to inform you of the good news soon. In addition to exclusively positive news, we can now see an amazingly positive bustle in the market. All official buyers are working feverishly to prepare files for settlement, and this month we can see the first ones. HARP first settles all types of dragons and HK-$, but only a few days later with German bonds and then currencies. What is important now is peace of mind on the part of the environment and, above all, intermediaries, confidential cooperation with the protection of all security interests, as well as good direct cooperation and communication between the sellers and Mr XY and/and you. As previously stated,: If you are contacted by any unknown party, please note their name and contact details, do not provide any information or sign anything. Now is the time when many criminal individuals and organizations will try to obtain data.

Fri. 14 June 2024 Source in Zurich: “Yesterday, the telegram channels blew up when one of the leaders of the Pentecostal group put out a YouTube video. People were overjoyed, emotional and I had hundreds of private messages coming to me. What’s App was blowing up… people were full of Joy. What we received is they have gone liquid.  It is purely liquid now and now they are on the verge of releasing those funds right now.

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Global Financial Crisis:

Sat. 15 June 2024: 85,000 Users locked out of savings accounts at “YouTube Bank” as fears over bank failure grow: https://www.newstarget.com/2024-06-13-users-locked-savings-accounts-youtube-bank.html

Sat. 15 June 2024 Charlie Ward: “I’m talking to you from Dubai. The BRICS countries have just put embargos on the US and Israel. That’s never happened before because of the power of the Federal Reserve which has controlled countries by putting embargos on them. Now the tables have turned. It’s the power of BRICS now.”

Sat. 15 June 2024 Japan: The Bank of Japan has announced it will start reducing bond buying, following years of purchasing nearly every financial asset available. The financial market in Japan is broken. Things are moving in slow motion. https://x.com/goldtelegraph_/status/1801609527457951981?s=46

Sat. 15 June 2024 BRICS: Over $70B in Trade Will No Longer Be Settled in US Dollars: https://watcher.guru/news/brics-over-70b-in-trade-will-no-longer-be-settled-in-us-dollars

Sat. 15 June 2024 European Stocks on track for worst week since October.

Sat. 15 June 2024 The Nasdaq hit a new all time high with 72% of Nasdaq stocks closing red, and twice as many new lows as new highs. – ZH

Read full post here:  https://dinarchronicles.com/2024/06/16/restored-republic-via-a-gcr-update-as-of-june-16-2024/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  A dinar is a dinar in country.  Whatever they come up with that's what it's going to be for them.   But outside the country of Iraq, on an International level the Iraqi dinar is going to grow in value and...you're going to watch it grow.  You're going to say, 'Hey it's at $1.50 to 1, SOLD!' Trade everything in.  Somebody may say, 'Well let me wait a little bit  more.' A few weeks go by. 'Hey, look it's up at $2.00. Exchanging everything!' ...outside of Iraq, we're going to be watching the  float.

Militia Man   If they have a real effective exchange rate like al-Sudani said, that the dinar is going to be stronger than the dollar, the parallel market goes away...Obviously the stronger the currency is the cheaper it is for Iraq to do what they need to do.  It's a no-brainer.  It's that simple.

Iraqi Parliament Discusses Key Logistics for Upcoming Term

Nader: 6-15-2024

Iraqi Parliament is back in July! Here's what laws are on the table:

1. New benefits: Service & Retirement plan for popular Mobilization Forces gets priority.

2. On Hold: Complex laws like oil & gas and Federal courts wait for Government action.

3. Coming soon: Changes to Civil Service Law and Personal Status Law.

4. Uncertain Future: General amnesty law on hold until new Parliament speaker arrives.

https://www.youtube.com/watch?v=cuvyaZL_phE

MilitiaMan”: Iraq Dinar-IQD Update-FX-NYSE Arca-ATMs Deployment Iraq-Ki Smart Card- JPMorgan-Seeks Private Money

Iraq Dinar-IQD Update-FX-NYSE Arca-ATMs Deployment Iraq-Ki Smart Card- JPMorgan-Seeks Private Money

MilitiaMan and Crew:  6-15-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=cwmEhPABIpE

KTFA Sat. Night CC: “FRANK26….6-15-24……MORE ABOUT THE ATM’S”

KTFA

Saturday Night Conference Call

FRANK26….6-15-24……MORE ABOUT THE ATM’S

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=xFLVULPepOY

More News, Rumors and Opinions Saturday PM 6-15-2024

KTFA:

Clare:  FROM FRANK:   FRANK WANTS TO ASK ALL OF YOU ONE QUESTION... WHY IS SUDANI PUTTING THOUSANDS OF NEW ATM MACHINES ALL OVER IRAQ RIGHT NOW?

Clare:  Withdrawing has become easier.. Al-Rafidain begins deploying ATM machines in institutions and malls

6/14/2024  Baghdad –

 Today, Friday, Rafidain Bank began deploying ATM machines in its main branches, then institutions, commercial areas, and malls.

The bank stated in a statement, a copy of which was received by the 964 Network:

Al-Rafidain Bank begins deploying ATM machines in its main branches, and then institutions, commercial areas, and malls, respectively, in implementation of its strategic objectives in enhancing the spread of the bank’s services in accordance with Al-Rafidain’s strategy to enhance financial inclusion and provide the best services to its customers.

Media Office of Rafidain Bank   LINK

Ashley:  To fill them with "new lower currency" (word to Eddie lol) and begin introducing said new lower currency to the citizens visually via broadcastings, then physically while simultaneously adding value/purchasing power. IMO

Carol:  If he’s bringing out new ATMs it’s because of the new electronic system they are going to and for the lower notes he’s bringing out. And some of the banks didn’t get the new ATMs last time because they were under sanctions at that time. All of this in my opinion. And thank you Frank for asking that question.

Dinarling:  IMO to reach more citizens, easier way to access old notes by converting to new notes and conveniences on the receiving of new notes and gathering of the old notes for the masses imo

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Clare: The Prime Minister directs the Ministry of Finance to finance projects in Dhi Qar with an amount of 50 billion dinars

6/15/2024  Baghdad - 

 Prime Minister Muhammad Shiaa Al-Sudani directed, today, Saturday, the Ministry of Finance to finance projects in Dhi Qar Governorate in the amount of 50 billion dinars. 

The Prime Minister's Media Office said in a statement - received by the Iraqi News Agency (INA) - that "Prime Minister Muhammad Shia' al-Sudani received the head of the Dhi Qar Governorate Reconstruction Fund, Muhammad Jawad al-Zaidi."

The statement added, "During the meeting, Al-Sudani listened to a detailed explanation of the most prominent projects included in the Fund's plans in the governorate since its establishment, and a review of completed and lagging projects." 

The statement continued, "Al-Sudani directed the Ministry of Finance to finance projects in the governorate at an amount of 50 billion dinars. He also directed that work on the projects be two shifts, and that a specialized consultant be present for the fund's work."

The statement continued, "The Prime Minister stressed the necessity of investing the fund's money in development, service, and investment projects that suit the needs of citizens, and provide sustainable job opportunities for the people of the governorate, and in accordance with the priorities of the government program."   LINK

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  They went on televisions and they're showing us...Rafadin Bank...brought in all of this equipment...It's in these crates.  They're telling us they are deploying the latest ATM machines in all banks today.  They said the next step they would follow up with are the commercial areas...They also said they're going to release all of these ATM machines in malls and many other locations.  They're saying these ATM machines have the latest technology and are state of the art. FRANK:  These ATM machines have the new software...for the lower notes and that's why the CBI is positioning them for you right now.  

Mnt Goat    ...Just look at all the progress made just since December 2022 when Iraq announced they were finally entirely out of Chapter VII. And now the spigot is wide open...the final issues preventing the reinstatement are being dealt with one by one...my contact in the CBI told me there is a very high probability that we would see the currency swap out in this month of June and so we watch and wait.

MASSIVE CRISIS: Petrodollar Collapse & Banking Threats Will Crash the US Economy | Andy Schectman

Lena Petrova:  6-15-2024

https://www.youtube.com/watch?v=TyMzz-L9Q3Q

The FDIC Warns Your Deposits May Not Be Safe, Massive Red Flag For Depositors

Atlantis Report:  6-15-2024

The FDIC has recently warned depositors that their funds may not be as secure as previously believed. This alarming statement has sent shockwaves through the financial world, prompting individuals and businesses alike to question the banking system's stability.

The FDIC, the Federal Deposit Insurance Corporation, has sounded the alarm bells, cautioning all depositors that their deposits may no longer be as safe as they once believed.

 This warning from a regulatory body tasked with ensuring the banking system's stability raises significant concerns for depositors and investors alike.

https://www.youtube.com/watch?v=CzULz9DiwXU

Goldilocks' Comments and Global Economic News Saturday Afternoon 6-14-24

Goldilocks' Comments and Global Economic News Saturday Afternoon 6-14-24

Good Evening Dinar Recaps,

Project Meridian FX: Joint project by the Eurosystem and London Centres, and the Bank of England, to test synchronised settlement in FX | BIS  |  Project Meridian

Project Meridian Announcement:

"The Eurosystem and London Centres of the BIS Innovation Hub, together with the Bank of England, have launched Project Meridian FX, to build on the findings of Project Meridian by focusing on foreign exchange (FX) transactions."

Meridian FX has completed testing of the usability regarding standing orders for various types of assets and technologies ie foreign currency exchange.

It is expected to take the lead on innovations regarding real-time gross settlement (RTGS) systems operated by central banks.

By focusing on FX transactions,  Project Meridian is expected to settle FX trade issues, such as costs, risks, and time involved in cross-border transactions.   BIS  |  Project Meridian

© Goldilocks

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Project Meridian | Youtube

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Why It’s Time for Corporates to Jump on the ISO 20022 Bandwagon | Pymnts | Investopedia

“Now with the CHIPS ISO 20022 migration completed, the entire industry is clearly one step closer to realizing the benefits together,” Lee told PYMNTS recently."

She goes on to emphasize that the potential for ISO 20022 cannot be complete without involvement with banks, corporates, and financial institutions.

Clearing House Interbank Payments System (CHIPS) is well on its way in interfacing ISO on the QFS several financial institutions that are still in process of completing this launch.

"CHIPS is a private-sector, bank-owned system for electronic payments in US dollars. CHIPS is the largest US dollar-based money transfer system in the US and is used for large interbank transactions."

CHIPS is the preferred method of payment for large transfers. Over 95% of USD cross-border payments utilize this service for its completion.

© Goldilocks

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What is Clearing House Inter bank Payment System (CHIPS)? Urdu / Hindi | Youtube

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SEC asking Ripple for 100M settlement 

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Project Seraphim

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GOLD SILVER RATIO BREAKOUT 21st Century | Youtube

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A Look Under the Hood of the Gold-backed BRICS Currency

A Look Under the Hood of the Gold-backed BRICS Currency

On June 14, 2024   By Awake-In-3D

This is the structure for a substantial RV of globally weaker currencies against the US Dollar, Euro, Yen and other major Fiat Debt System currencies.

The long-term stability of the BRICS Alliance’s financial vision hinges on the successful implementation of the Common Trade Currency Unit (CTCU).

Any currency backed by and a part of the CTCU infrastructure would essentially RV upwards against the Dollar and other major fiat debt currencies.

This innovative currency aims to provide a stable, reliable alternative to the US Dollar, backed by tangible assets including gold.

The CTCU is designed to enhance trade efficiency, foster economic stability, and reduce dependency on traditional fiat currencies.

Also Read: Realizing Humanity’s Financial Freedom: The Rise of a New Gold-Based Currency is Underway to learn about the path for this new gold-based currency to succeed as a powerful alternative the US Dollar and the Global Fiat Currency Debt System.

Understanding the CTCU

The CTCU operates within a decentralized ecosystem facilitated by a blockchain platform. Each authorized node within this ecosystem can issue settlement and payment units denominated in CTCUs. These units serve as a medium of exchange, unit of account, and store of value for cross-border transactions among BRICS nations.

The CTCU is pegged to a basket of assets to ensure stability and trust. Specifically, it is anchored to 1 gram of gold, with the remaining value equally divided between two currencies from BRICS countries.

This hybrid backing provides a robust foundation for the CTCU, mitigating the volatility inflationary devaluation typically associated with fiat currencies.

Example: Brazil’s Economic Transformation with the CTCU

Consider Brazil, a key member of the BRICS Alliance. By adopting the CTCU, Brazil can streamline its international trade processes and stabilize its economy.

Here’s how the CTCU can provide substantial value to Brazil and RV their currency:

1. Enhanced Trade Efficiency:
Brazil imports a significant amount of goods from China. Using the CTCU, Brazilian importers can bypass the complexities and costs associated with currency conversion and fluctuating exchange rates. The CTCU provides a stable and predictable medium of exchange, reducing transaction costs and increasing trade efficiency.

2. Stable Value Retention:
The CTCU’s value, pegged to gold and a basket of BRICS currencies, offers greater stability compared to the Brazilian Real, which can be subject to inflation and economic volatility. Brazilian businesses and individuals can hold CTCUs as a more reliable store of value, protecting their wealth from domestic economic fluctuations.

3. Improved Investment Climate:
The introduction of a CTCU-based bond market can attract foreign investment into Brazil. Investors seeking stable returns can purchase CTCU-denominated bonds, providing Brazil with an influx of capital for infrastructure and development projects. This increased investment can spur economic growth and development.

4. Facilitation of Sanctioned Trade:
In scenarios where Brazilian companies face trade restrictions with certain countries, the CTCU offers a viable alternative. Transactions conducted in CTCUs can circumvent traditional banking systems that are subject to international sanctions, allowing Brazil to maintain vital trade relationships without geopolitical constraints.

Any currency backed by and a part of the CTCU infrastructure would essentially RV upwards against the Dollar and other major fiat debt currencies.

Operational Mechanism

To utilize the CTCU, Brazilian companies would convert their local currency (Real) into CTCUs through authorized financial institutions. These CTCUs can then be used to conduct trade with other BRICS nations. For example, a Brazilian company importing electronics from China would pay the Chinese exporter in CTCUs. The Chinese exporter can then use the CTCUs to purchase raw materials from South Africa or invest in Russian energy projects, creating a seamless and efficient trade network.

Trust and Transparency

The decentralized nature of the CTCU ecosystem, supported by blockchain technology, ensures transparency and security. Each transaction is recorded on an immutable ledger, providing a clear and auditable trail of all CTCU movements. This transparency builds trust among BRICS nations and global investors, reinforcing the credibility and stability of the CTCU.

The Bottom Line

The CTCU represents a transformative leap towards a more stable and equitable global financial system. By addressing key economic challenges and providing a reliable alternative to fiat currencies, the CTCU can significantly enhance the long-term financial stability of BRICS nations. As Brazil’s example illustrates, the CTCU has the potential to revolutionize trade, investment, and economic growth within the BRICS Alliance, heralding a new era of financial freedom and prosperity.

Contributing article: https://www.finmarket.ru/main/article/6194585

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Realizing Humanity’s Financial Freedom: The Rise of a New Gold-Based Currency is Underway

Realizing Humanity’s Financial Freedom: The Rise of a New Gold-Based Currency is Underway

On June 14, 2024  By Awake-In-3D

Exploring the Revolutionary RV Potential of the BRICS Alliance’s New Gold-Backed Currency and Releasing a Global Financial Reset

In This Article:

• Introduction to the BRICS Alliance’s Bold Ambition

• Key Ingredients for the Success of a BRICS Gold-Based Currency

• Overcoming Challenges and Real-World Implications

• Overview of the New Gold-based Currency Structure

• The Transformative Impact on Global Trade and Sanctions

The BRICS Alliance is on the cusp of a financial currency and system infrastructure revolution.

They aim to disrupt the US Dollar-dominated fiat currency system with a groundbreaking gold-backed currency.

The new gold-based currency is designed to enhance trade efficiency, foster economic stability, and reduce dependency on traditional fiat currencies.

This initiative promises to reset the global financial order, offering a beacon of hope for a debt-free future. This article addresses the vital elements required for the success of this new gold-based currency, the challenges it faces, and its transformative potential on global trade and sanctions.

Introduction to the BRICS Alliance’s Bold Ambition

The BRICS Alliance represents a dynamic coalition of emerging economies determined to create a fairer, more balanced global financial system.

Their proposed gold-backed currency, has no name or currency symbol at this time, so for now I will continue to refer to it as the CTCU (for common trade currency unit).

With its introduction, the world will witness a shift towards financial freedom, trade equality and renewed prosperity.

Key Ingredients for the Success of a BRICS Gold-Based Currency

1. Ensuring Currency Stability and Free-Floating Mechanism

For the CTCU to thrive, it must be allowed to float freely in the global market. Currently, the Chinese Yuan does not meet this criterion, limiting its potential as a reserve currency. A freely floating CTCU, supported by stable and transparent economic policies from all BRICS nations, is essential for success.

2. Establishing the CTCU as a Genuine Reserve Currency

A successful CTCU would be recognized and accepted as a reserve currency by central banks worldwide. This involves building trust in the currency’s stability and reliability, backed by the economic strength and resources of the BRICS nations.

3. Development of a CTCU-Based Bond Market

A functioning bond market is crucial for the widespread use of the CTCU. It provides a mechanism for investing and lending, offering returns on CTCU holdings and enhancing its appeal to global investors.

4. Widespread Acceptance and Willingness to Trade in CTCUs

For the CTCU to succeed, businesses and individuals must be willing to trade and accept Bricks over local currencies or the US Dollar. This requires significant shifts in trading practices and confidence in the new currency.

5. Overcoming Export Mercantilism

China’s current export mercantilism—prioritizing trade surpluses and accumulating foreign reserves—must be addressed. Without changes in this policy, the CTCU would face similar challenges as the Yuan in becoming a global reserve currency.

6. Building Trust

Trust is a fundamental component of any currency’s success. The BRICS nations must demonstrate a commitment to maintaining the CTCU’s value, backed by tangible assets like gold, and ensure transparency in their financial practices.

Overcoming Challenges and Real-World Implications

Export Mercantilism and Trade Imbalances

China’s historical trade surpluses have led to the accumulation of US Dollar reserves. For the CTCU to succeed, there must be a shift towards balanced trade practices. This change would involve significant economic reforms and a willingness to move away from mercantilist policies.

Trade Dynamics and Practical Challenges

Global trade operates at the individual and business level, rather than between nations. A Brazilian business, for example, would need to convert local currency to CTCUs, engage in transactions, and ultimately manage the CTCU holdings. The lack of a CTCU-based bond market and other financial instruments complicates this process, reducing the currency’s attractiveness.

Case Study: Saudi Aramco and Brick Transactions

Consider a scenario where Saudi Arabia’s Aramco sells oil in CTCUs. The company would need to convert CTCUs to other currencies or financial instruments to utilize its earnings. Without a developed CTCU financial ecosystem, this process remains cumbersome and impractical.

The Transformative Impact on Global Trade and Sanctions

Sanction Avoidance and Digital Currencies

While the CTCU faces significant challenges as a global reserve currency, it holds promise for sanction avoidance. Countries and individuals subject to US sanctions could use the CTCU to conduct transactions beyond the reach of US financial systems.

The development of digital currencies further facilitates this process, offering a more covert means of trade.

US Sanctions and Global Retaliation

The US has extensively used sanctions as a foreign policy tool. The proliferation of a BRICS gold-based currency, coupled with decentralized digital ledger technology, would undermine this strategy by providing alternative transaction mechanisms.

This shift may not dethrone the US Dollar completely, but could significantly limit the US’s ability to enforce sanctions globally.

Long-Term Financial Stability

In the long run, a successful CTCU would contribute to a more diversified and stable global financial system.

However, this requires overcoming significant economic, political, and trust barriers. The establishment of the BRICS Common Trade Currency Unit (CTCU) and its potential gold backing illustrates ongoing efforts to achieve these goals.

Overview of the CTCU Currency Structure

The long-term stability of the BRICS Alliance’s financial vision hinges on the successful implementation of the Common Trade Currency Unit (CTCU).

This innovative currency aims to provide a stable, reliable alternative to the US Dollar, backed by tangible assets including gold. The CTCU is designed to enhance trade efficiency, foster economic stability, and reduce dependency on traditional fiat currencies.

The CTCU operates within a decentralized ecosystem facilitated by a blockchain platform. Each authorized node within this ecosystem can issue settlement and payment units denominated in CTCUs.

These units serve as a medium of exchange, unit of account, and store of value for cross-border transactions among BRICS nations.

The CTCU is pegged to a basket of assets to ensure stability and trust.

Specifically, it is anchored to 1 gram of gold, with the remaining value equally divided between two currencies from BRICS countries.

This hybrid backing provides a robust foundation for the CTCU, mitigating the volatility typically associated with fiat currencies.

Also Read: A Look Under the Hood of the Gold-backed BRICS Currency to understand how the new BRICS gold-based currency unit will RV smaller country currencies upwards against the major fiat debt currencies (such as the USD and EURO).

The Bottom Line

The BRICS Alliance’s pursuit of a gold-backed currency represents a bold move towards reshaping the global financial landscape.

While the path to success is fraught with challenges—ranging from establishing trust to developing robust financial markets—the potential benefits are substantial.

A successful CTCU would facilitate sanction avoidance, promote economic stability, and provide a meaningful alternative to the US Dollar-dominated system.

Contributing article: https://mishtalk.com/economics/what-would-it-take-for-a-bric-based-currency-to-succeed/

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Older Americans Are Stashing Thousands Around The House

Older Americans Are Stashing Thousands Around The House. Here's Why This Practice Can Lead To Lost Wealth

Serah Louis  Fri, June 14, 2024

Adrienne Volpe almost threw out her grandmother’s collection of books after she passed away — a decision that could have lost her a small fortune.

“My grandmother had pressed thousands of dollars in single bills inside books,” Volpe told the New York Times (NYT), recounting how she thought she would find autumn leaves within the pages instead.

Volpe’s grandmother had stashed about $10,000 in bills as small as $20 within her books.

Children and grandchildren of older Americans report finding hidden cash and valuables in their loved ones’ homes after they die — like under the mattress or even inside a freezer — due to mistrust in financial institutions.

But this practice can lead to potential wealth-building losses and complications for your loved ones after you pass.

Why You Risk Losing Money By Storing It In The Sofa

While you might have concerns about fraudsters accessing your bank account and siphoning funds from your savings — there are plenty of risks in leaving bundles of cash at home as well.

Experts note that your valuables could get stolen, destroyed by a disaster, like a fire, or even pocketed or misused by a family member. Plus, you could lose out on potential wealth-building opportunities by not investing this money and benefiting from compound interest growth.

“The lost interest — it probably would have been double, just by having it in the bank all these years versus having it in the bottom of a closet,” said Patrick Simasko, an estate lawyer in Mount Clemens, Michigan, who once uncovered nearly half a million dollars in cash and gold in the home of an older client who had hired him to execute her estate.

Some professionals say they often see this cash hoarding behavior among baby boomers and the silent generation — particularly those who grew up during the Great Depression and the bank failures of the 1930s.

However, Mark Criner III, senior trust strategist for Baird Trust in Scottsdale, Arizona, noted that some folks from certain minority communities are prone to this practice as well.

“That’s borne of minorities’ lack of access to these institutions for decades, and even when there was access, there was a lot of abuse,” Crimer told the NYT. “They weren’t always treated fairly or dealt with honestly.”

Problems For Your Loved Ones After You Pass

To Read More Go To Original Article Here:

https://www.yahoo.com/finance/news/older-americans-stashing-thousands-around-100400731.html