Is the Global Financial System Collapsing?

Wall Street Silver: Is the Global Financial System Collapsing?

7-9-2024

The global financial system is a complex and interconnected web of institutions, markets, and regulations that facilitate the flow of funds and trade between countries.

Over the past few decades, this system has undergone significant changes and challenges, from the 2008 financial crisis to the COVID-19 pandemic.

 These events have led many experts and investors to wonder if the global financial system is on the verge of collapse, and what the potential impact on precious metals, like silver and gold, might be.

Gold and silver prices often act as a barometer for global financial uncertainty. As the stability of the global financial system comes into question, investors might seek out safe-haven assets like precious metals, driving up demand and prices. Here are a few potential scenarios:

1. Gold as a safe haven: Gold has long been considered a safe-haven asset due to its intrinsic value, scarcity, and history as a store of wealth. During periods of global financial instability, investors tend to shift their assets to gold, pushing up its price and providing a buffer against potential losses elsewhere.

2. Silver as an industrial and safe haven metal: Silver has dual demand drivers, as both an industrial metal and a safe-haven asset. Its use in various industries, such as electronics, solar panels, and medical equipment, fuels industrial demand. Meanwhile, its status as a safe-haven asset, similar to gold, results in increased investment demand during times of global financial uncertainty.

3. Increased volatility: Given the uncertain future of the global financial system, silver and gold prices could experience increased volatility. This can provide opportunities for investors to profit from price swings but also carries higher risk.

The global financial system’s stability is a cause for concern, given rising debt levels, systemic risk, economic imbalances, and regulatory weaknesses. In such an environment, investors should monitor precious metal prices, particularly gold and silver, as they often act as a safe haven during periods of financial instability.

While there are risks associated with this increased volatility, there are also opportunities to profit from price movements. As always, investors should conduct thorough research, assess risk tolerance, and consult with financial advisors before making any significant investment decisions.

https://youtu.be/elCX25v9eA4

More News, Rumors and Opinions Wednesday PM 7-10-2024

TNT:

Tishwash:  Details of Iran-Russia local currency swap agreement

The deputy governor of the Central Bank of Iran said that the national currency swap agreement concluded between the central banks of Iran and Russia contributes to strengthening the ruble and the rial and excluding the dollar from mutual settlements.

Mohsen Karimi explained in statements published by Tasnim News Agency that the monetary agreement concluded between the Iranian and Russian central banks represents a channel for exchanging money between the two countries, and this is the approach followed to eliminate the dollar and mitigate the risks of sanctions.

He pointed out that "this measure is not subject to sanctions, and any sanctions will not affect the national currencies of the two countries."

The Deputy Governor of the Central Bank of Iran said: The transactions of the monetary agreement between the two countries and card payments for travelers have been completed, and this agreement will come into effect as of the coming weeks, while card payments will start as of the end of August.

“This will be a good incentive for Iranian exporters to trade with Russia,” Karimi added.

He pointed out that currency swap is a tool through which both parties can obtain liquidity in another country's currency without having to buy it in the currency market.

He said: The Iranian Shatab network will soon be connected to 11 neighboring countries and member states of the Eurasian Union, such as Egypt.

The Iranian official concluded: For more than a decade, the Central Bank has been issuing dollar bills to Iranian travelers. But a new step has been taken, through which we will move to pay the same currency share with the same countries through their bank card. For example, a traveler who applies for travel currency from a Russian ATM can get rubles equal to his currency share and deduct rials from his account.  link

************

Tishwash:  Foreign Minister Fuad Hussein arrives in Washington

Foreign Minister Fuad Hussein arrived in Washington today, Wednesday, to participate in the NATO Summit 2024

His media office stated in a statement received by {Euphrates News}, that "the latter arrived in Washington to participate in the NATO Summit 2024, which will be held from July 9 to 11. This participation comes at the official invitation of the Iraqi government on the occasion of the 75th anniversary of the founding of the alliance." 

The summit will discuss a range of important issues, including global security challenges and military cooperation.

The summit will be attended by a number of heads of state and government from NATO and international partners.  link

************

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

Militia Man  I think when they say, "Whose operations are constantly expanding in favor of dealing at the fixed official exchange rate", is an argument suggesting that instead of being a floating currency...they're leaning towards a fixed official exchange rate for some time...

Frank26   I think Sudani is in control of the monetary reform.  I think he has security and stability and I think the international world knows it.  I think all the three letter agencies are in cahoots...with the CBI...GOI to go ahead and launch the new exchange rate...I think the exchange rate is either going to float at a fixed rate or it's going to float at a low rate then take some time to grow and be capped.  If it's fixed at an RI rate then you know it's not going to float very much because the distance between $3.22 to...where they want to cap it it's not that far and the demand will allow the gap to be reached very quickly.  If it comes out at $3.22 you think I'm gonna wait around for a float?  No.

Iraq's Banking Overhaul: Restructuring & Mergers Explained

Nader: 7-10-2024

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

 $300 BILLION WARNING: Saudi Arabia Warns G7 Against Stealing $300B in Russian Sovereign Assets

Lena Petrova:  7-10-2024

https://www.youtube.com/watch?v=XkR5EUr4_L4

Bruce’s Big Call Dinar Intel Tuesday Night 7-9-24

Bruce’s Big Call Dinar Intel Tuesday Night 7-9-24

Transcribed By WiserNow Emailed To Recaps

Welcome everybody to the big call tonight. It is Tuesday, July 9th  and you're listening to the big call. Thanks everybody for for tuning in all over the globe. If the satellite system is reaching you  - our great sat team has been getting this call out for months and months and months now, virtually all over the globe  - around 200 countries  - and we've had as many as 25 million listeners targeted with this call - So I'm excited about that, excited about call tonight, but let's go ahead, before you're too excited, and pray the call in -

Bob gave me a time hack, but I think get this done in the allotted time. Reason I say by 10:30, I think because, here's the thing, guys, to be completely candid with you, we've heard this is the week, or this is our week for months now, and it's getting a little old and it is a banned phrase on the big call. In other words, we're not really too much into that.

I was told this is the week for this to go and I think it could be, in fact, one of our sources, oh, a few hours ago, said to me, this “should” still be our week. This should be, well, that's great.

But obviously, nothing really matters until It happens because we don't see, I mean, I see a lot of what's going  on behind the scenes – I do get that --  I do get a lot of information  it's not online, it's not out there. I can't even put it out. But you get more from this call for the big ball than anything else, I know that because I know what else is out there.

Now, let me say this, it was a week since our last call, because of the Fourth of July, as you know, took off. So from Tuesday to Tuesday, last Tuesday to Tuesday, there have been a lot of things happening. And I'll tell you one thing we've received  from three different intel sources that  said that tomorrow, which is the 10th of July, would be the start of Debt Jubilee - and you get guys know that's part of NESARA

 Now I'm trying to get confirmed before the call tonight, whether tomorrow is still the start of  debt jubilee, which would mean what we call R and R restitution reclamation allowance that’s refunding to us of our birth certificate trading money, death certificate trading money - marriage license - death certificate trading money, divorce decree -  all of those documents were traded as bonds,  on us - as property, and we are to receive benefit of those trades, the money that those earned  -  and that's part of our R and R –

What else is part of it ?  The other parts are Federal income tax that we paid. We'll get that back, mortgage interest that we paid on any of our loans includes credit  card  and bank loans interest that we paid – There’s quite a bit – that will come back to us -   

If you're 62 older, I believe in a 62 might 62 and older, it's considered a lump sum payment, and it'll go, if you're taking Social Security now, it'll go into that same account. They know the accounts that we actually have. It'll show up in your bank account. You don't have to do it. Just go to your account and see it. And younger people all the way down to the age 28 - I believe will start seeing something on that – but  it will get paid over three years, monthly on it. And if you're older, like I think it's either 40 or 40 and above might be the cutoff, you'll be paid in monthly over two years, instead of one sum.

So now we have all of that to look forward to -  so now we also we're told that the notification - okay, here's  the thing – the final email

to go out to our redemption center leader that has responsibility and jurisdiction, if you will, for information handling over all the redemption centers East Mississippi River, which is 6800 redemption centers east of the Mississippi 800 and this person is working with another person to divide those into half. Has responsibility to send a forwarded email of information to 3400 redemption center leaders

Now,  the email that was to be the final email -  that this person was to receive was over the 6800 redemption centers -  came in last Saturday  at 10:03 am

They had to hold that email until yesterday at 4 o clock -  when they were supposed to send it out – at 4 pm Eastern -  it did not go out then -  none of the redemption centers – heads – the leaders -  and  the talk was that it will go out this afternoon, Tuesday afternoon, not yet  

The redemption center leaders we talked to  said they have not received it yet  So what is that saying????? .

That's saying that something is holding this back from going  under that prescribed timeline

Now, does that mean that everything  is deferred to  tomorrow – the first day of debt Jubilee? Believe.

We can help as the editor. I don't know that, though. I hope we get the notification. Now this notification, remember  is to the redemption center -   to go in, to go go in – to call the 800 number and set our appointments  would follow that -  and maybe follow it by an hour or two – its hard to say -

But redemption center leaders  need to get the heads up that this is going and to be ready for it, and  ready to maybe take calls as we call, the call centers. And our final connection is going to be to the redemption center, live person  if we are a zim holder -

So picture yourself calling in -  it might be automated call the 800 number, and automating all of a sudden, you key in, you know your currency  by a code – which might be  -  just say one, press

two if you have the number, I know it's gonna go. That's how it goes. And you get into the system that way – you’ll be talking to somebody -  who will direct you by your zip code  phone to your redemption centers where you plan to exchange  - it could be near your home - could be near your business. It could even be different than both of those -

So you plug that in and then  they will either transfer your call directly to the redemption center, and you'll speak to a person there, or you will be given another phone number to call to go directly to that redemption center. It's  going to depend on where in the country you're calling from, and so on.

The point is you’ll get an appointment set They will give you approximately 2 minutes to set your appointment  - approximately a two minute call -

 And then, of course, you're going to need to get whatever you know, your passport, if you have one, your drivers license – military ID - Your student ID or your government ID - something with a picture on it- bring one or two of those – And then, obviously get one or two, utility bills, or phone bills to show your home address  - that kind of thing -  don’t forget to bring your currency – I can see people bring in everything else and then OMG “I left my currency at home”

Oh, and then they’re in trouble. Don't forget your currency – and make sure you get there no earlier for your time than 10 minutes -   If your time is 12:30  don't get there before 1220 Okay, if your time is at 3 in the afternoon, don't get there before 250 in the afternoon.

 Okay, so we want this thing to roll. They think they can get us taken care of in 30 to 35 minutes, and we'll see how that goes -

If you have bonds – sheet bonds - that are in a box or couple of boxes of bring them -  but tell them when you're setting up your appointment that you have bonds I've got.

And make sure, of course, you know, with those bonds, and they can handle those at the redemption there's usually one person there at the redemption center that is up to speed and can handle bonds. If you have them – bring them  

So -- I can't tell you we are on  point for tomorrow to be our day, but if it is the first day of Debt Jubilee -

I don't see  why we wouldn’t be notified -  and it's like one of the sources told us, he said it should speed this maybe instead of tomorrow, maybe it's Thursday. You know, it could very well be, but whichever day it is, Wednesday, Thursday, Friday, hopefully it is this week - and we get that done.

 So that's truth, and that's where we stand right now. I'm getting it to it, and that's pretty much it

Let's see what develops  between now and then – Lets ee if tomorrow might  be our magic day when we get numbers - . But these emails going out to the redemption  center leaders need to happen. And so far, by the time of the big call, they had not happened yet, so that still needs to happen - and that's according to our source, the final email coming from Treasury.

 And by the way, the new US Treasury and they have used the  “New”  in the US Treasury is on the Paiute reservation in sovereign territory, out in near Reno, and so that is really a good thing for us - 

Our monies are protected. We've got all the gold. Don't worry about that. It's stored in six different locations. Everything is  good to go and we're ready, and we should be seeing some political change -here, we should be seeing  NESARA and GESARA  coming out - we just have a whole lot of great things to look forward to. So let's go ahead with that. I want to thank Sue Bob. GCK, thank you, Pastor Scott, continue healing for you. Thank you Jeannie  for a wonderful praise report again, and everybody that is in the SAT Team -  getting this call out -  200 countries around the globe - as many as 25 million listeners that have been targeted specifically with this call. Thank you SAT Team –

Thank everybody in Big Call universe that has been listening here for 13 years, or some of you less, and some of you that full time you haven't missed a call. We, thank you for it. We, thank you for your and your patience – indulgence -  and your listenership to the big call  - Let’s pray the call out

Well, good night everybody. God bless you, and we will see you Thursday, unless we get the emails. that we’re so much looking forward to. God bless you.

Bruce’s Big Call Dinar Intel Tuesday Night 7-9-24  REPLAY  LINK     Intel Begins   1:13:20

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHbNp

Bruce’s Big Call Dinar Intel Thursday Night 7-4-24   REPLAY LINK   NO CALL

Bruce’s Big Call Dinar Intel Tuesday Night 7-2-24  REPLAY  LINK     Intel Begins   1:14:20

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHbBk

Bruce’s Big Call Dinar Intel Thursday Night 6-27-24   REPLAY LINK   Intel Begins   1:03:30

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHb8O

Bruce’s Big Call Dinar Intel Tuesday Night 6-25-24  REPLAY  LINK     Intel Begins   51:21

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHbQ5

Bruce’s Big Call Dinar Intel Thursday Night 6-20-24   REPLAY LINK   Intel Begins   1:02:10

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHK6c

Bruce’s Big Call Dinar Intel Tuesday Night 6-18-24  REPLAY  LINK     Intel Begins   1:01:50

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHKgp

Bruce’s Big Call Dinar Intel Thursday Night 6-13-24   REPLAY LINK   Intel Begins   1:09:00

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHK1x

Bruce’s Big Call Dinar Intel Tuesday Night 6-11-24   REPLAY LINK   Intel Begins   1:02:50

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHKS4

Bruce’s Big Call Dinar Intel Thursday Night 6-6-24   REPLAY LINK   Intel Begins   50:20

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHKjC

Seeds of Wisdom RV and Economics Updates Wednesday Afternoon 7-10-24

Good Afternoon Dinar Recaps,

IS THE US MILITARY CONSIDERING BLOCKCHAIN ADOPTION?

"The United States Senate Committee on Armed Services has taken a significant step towards integrating advanced technology into national defense. As part of the fiscal year 2025 National Defense Authorization Act (NDAA) report, the committee has directed Secretary of Defense Lloyd Austin to investigate potential applications of blockchain technology within the military. This directive, issued on July 9, focuses particularly on enhancing supply chain management and strengthening national security."

"Secretary Austin is required to provide a briefing by April 1, 2025, outlining plans for blockchain integration in national security applications. The briefing must address pilot programs, benefits and risks, current adoption in industry and by foreign countries, and implementation feasibility."

"This move coincides with growing political interest in cryptocurrencies. The Republican National Committee recently included support for Bitcoin mining and digital asset self-custody in its draft policy platform. This development signifies increasing recognition of blockchain and cryptocurrency technologies in U.S. government and military planning, potentially shaping future national security strategies."

@ Newshounds News™

Read more:  CoinGape

~~~~~~~~~

MICA REGULATIONS GAIN TRACTION IN ITALY

"The Bank of Italy is preparing to implement the European Union’s (EU) Markets in Crypto-Assets (MiCA) regulation. Notably, this significant move aims to preserve the smooth functioning of the payment system, according to recent reports. Besides, the upcoming guidelines by the bank will clarify how the new rules will apply, signaling a transformative phase for Italy’s crypto market."

"Besides, this strategic move by the Bank of Italy underscores its commitment to integrating crypto assets into the traditional financial system. By implementing MiCA, Italy aims to create a regulated and secure environment for crypto transactions. The guidelines will provide clarity and direction for market participants, fostering confidence in the evolving digital asset landscape."

WHERE DOES THE US STAND WITH CRYPTO REGULATION? There seems to be a lagging behind in the United States compared to the rest of the world.

@ Newshounds News™

Read more:  Coin Gape

~~~~~~~~~

STABLECOINS GAINING ACCEPTANCE IN THE PHILIPPINES

"Gaming-centric sidechain Ronin announced Monday the launch of the first Philippine peso-pegged stablecoin on its network. "
“Over 80 million Filipinos transact online using the Philippine Peso, but the financial infrastructure available is often slow and expensive. That’s why Coins.PH is launching PHPC on Ronin,” Ronin said."

"PHPC’s launch comes as the Philippines prepares to introduce a crypto regime. The country’s Securities and Exchange Commission said in May that it would be ready by the second half of this year."

 @ Newshounds News™

Read more:  Daily Coin

~~~~~~~~~

JANET YELLEN ADMITS TO DE-DOLLARIZATION

"When US Treasury Secretary Janet Yellen on Tuesday testified before the House Financial Services Committee, she said that one of her concerns is how best to protect the international status of the US dollar as US financial sanctions have pushed more countries seek alternative financial transaction methods that do not involve the US dollar, VOA reported."

 "The remarks from Yellen have shed light on growing concerns regarding US dollar hegemony. Experts believe that the weaponization of the US dollar will reduce its dominance as the world moves toward local currency settlements and accelerate policies to facilitate de-dollarization. China and other countries are actively promoting local currency settlements and multilateral cooperation, offering more choices and possibilities for the global financial order."

"For a long time, the US has abused its dollar hegemony, shifting domestic crises and harvesting global wealth by damaging the economic and financial stability and well-being of other countries. It is also used as a tool to impose financial sanctions, isolating other countries from the dollar payment system."

"In June, Saudi Arabia joined a central bank digital currency initiative for international trade, which may set the stage for wider local currency payments for oil trade between China and Saudi Arabia and reduce the reliance on the US dollar."

@ Newshounds News™

Read more:  Global Times

~~~~~~~~~

WHOLESALE CBDC's ARE GAINING GROUND IN INTERNATIONAL TRADE

"Last week China’s President Xi Jinping visited Kazakhstan.  The Chinese government reported that the country supports Kazakhstan becoming a member of BRICS and President Xi penned an article in a Kazak newspaper. The National Bank of Kazakhstan and the People’s Bank of China signed a memorandum of understanding to cooperate on digital currency"

"Last October China signed a similar agreement with the UAE and used the digital renminbi to settle a crude oil transaction later that month. The UAE is also a founding participant of mBridge the cross-border central bank digital currency (cross-border CBDC) project where China developed the technology. Additionally, the UAE was the first to execute a live transaction on mBridge, making a Dirham 50 million ($13.6m) payment to China in January."

"The National Bank of Kazakhstan is not a participant in mBridge but is an observer on the project, alongside another 22 central banks. The country has been working on CBDC, with plans to go live next year. When it released a status report last year it said the initial focus was retail CBDC for consumer transactions with a clear path to production. However, it said it was researching wholesale CBDC and its use for interbank settlements and cross border payments."

@ Newshounds News™

Read more:  Currency Insider

~~~~~~~~~

WILL THE US HAVE A CBDC AND IF SO WHAT WILL IT LOOK LIKE?

Newshounds News has been reporting on CBDC's and their implementation around the world but the United States has yet to introduce either a wholesale or retail version.

"A U.S. central bank digital currency (CBDC) would be a tokenized and blockchain-based version of the U.S. dollar, maintained and issued by the Federal Reserve. This form of digital fiat money would be similar to cryptocurrencies in that a blockchain would be used, but a CBDC would be regulated by the Federal Reserve, recognized as legal tender, and backed by the full faith and credit of the U.S. government."

"The United States doesn't yet have a CBDC as of 2024, but it's important to understand the concept with this option under discussion, as well as the benefits and risks attached and steps taken so far."

"Fiat currency is a government-issued currency that's not backed by a physical commodity such as gold or silver. It's backed by the government that issues it. This type of money is the dominant means of making transactions in most countries. People use it to facilitate the exchange of goods and services in an economy. Generally, a country's central bank issues fiat currency for the nation's use. The Federal Reserve plays this role in the U.S."

"A U.S. CBDC would serve as a complement to existing central bank reserve account balances and widely used fiat currency. As a bonus, it should provide a medium for executing instant and seamless cross-border transactions. "

WHAT US CITIZENS ARE LOOKING FOR IS A CBDC THAT'S BACKED BY GOLD AND NOT THE FIAT DOLLAR.

@ Newshounds News™

Read more:  Investopedia

~~~~~~~~~

JANET YELLEN SAYS TREASURY NOT RESPONSIBLE FOR 'QUARTERBACKING' BETWEEN SEC, CFTC OVER CRYPTO RULES

"Yellen also responded to questions about concentrated risk and Russia potentially bypassing US sanctions via crypto and stablecoins."

"US Secretary of the Treasury Janet Yellen said the Treasury is not responsible for ‘quarterbacking’ between the CFTC and the SEC regarding their opposing positions toward crypto regulation."

"Yellen made the statement during a July 9 hearing before the House Financial Services Committee."

Opposing positions
"House Financial Services Committee Chairman French Hill said that the SEC and CFTC have taken opposing legal positions in federal court on crypto and asked if the Treasury’s Financial Stability Oversight Council (FSOC) is working to unite the two regulators."

"Hill said the council is “supposed to quarterback for financial risk.” However, Yellen disagreed, stating:

“It’s not the job of the Financial Stability Oversight Council to adjudicate.”

She noted that the Treasury had published a report on crypto risks, partly addressing risks arising from a lack of agreement between regulators.

"Earlier in her testimony, Yellen told Hill she remains committed to achieving a regulatory framework for digital assets and hopes the efforts “reach a good conclusion.”"

Concentrated risk, Russian stablecoins
"Yellen also responded to other questions related to crypto. Congressman Mike Flood asked Yellen whether decentralized trading protocols require a different approach to regulation from centralized services."

Yellen answered that the SEC and CFTC are looking at the issue and added that some matters “may fall under the regulatory umbrella of the banking agencies as well.”

"Flood also questioned whether SEC rulemaking could reduce custodial options for crypto. He asked Yellen if a limited number of approved custodians available to registered investment advisors (RIAs) for Bitcoin ETFs would introduce concentrated risk."

"The Treasury secretary responded that the trend could pose a “potential” risk but declined to answer with certainty without more details."

"Congressman Brad Sherman commented on the Russian central bank’s plans to bypass Western sanctions with crypto. Yellen said that the Treasury is “very attentive” to the use of crypto and stablecoins but does not believe that Russia’s activities are substantial."

@ Newshounds News™

Read more:  Crypto Slate

~~~~~~~~~

Newshound's Daily Breakdown Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Economist’s “News and Views” Wednesday 7-10-2024

The Fuse Is Lit: Dollar Hegemony Ending | Andy Schectman

Liberty and Finance:  7-10-2024

Andy Schectman joins Dunagun Kaiser at the Rule Symposium in Boca Raton, Florida.

Schectman discusses the continued dedollarization around the world and the growing influence of the BRICS alliance.

With financial and political chaos around the world, safeguarding your wealth is more important than ever, he notes.

INTERVIEW TIMELINE:

 0:00 Intro

2:04 Weekly market update

 6:45 BRICS+ & dedollarization

20:50 Safeguarding our wealth

https://www.youtube.com/watch?v=0u1qe1GP7XY&list=PLank8aMTYJBY1L49VT6P23msnwUJAHYHf

De-dollarization Shocked the US: BRICS End Dollar Hegemony

Fastepo:  7-9-2024

The term "de-dollarization" refers to the process of reducing reliance on the US dollar in international trade and finance.

While the concept has been discussed for several decades, its prominence has grown in recent years due to geopolitical shifts and economic strategies by various countries.

 The exact first use of the term is difficult to pinpoint, but it has gained significant attention particularly after the 2008 financial crisis.

 In recent years, countries like China and Russia have actively pursued de-dollarization to mitigate the impact of US economic sanctions and to diversify their foreign reserves.

This trend aims to reduce reliance on a single currency and enhance economic stability by using various local currencies. By focusing on their own currencies, nations aim to minimize geopolitical risks and bolster their domestic economies.

This shift is reshaping global trade and financial systems, potentially lessening the worldwide dominance of the US dollar.

In this video, we explore the growing movement of BRICS+ countries, decreasing their reliance on the US dollar for international transactions.

We examine the motivations behind these choices and provide insights into their economic tactics. Furthermore, we highlight the de-dollarization initiatives within the BRICS+ alliance, showcasing significant steps these nations have taken to diversify the currencies used in global trade.

https://www.youtube.com/watch?v=JeMRF_1XwMc

Vince Lanci: 'If West Wants To Trade With BRICS, They Need More Gold'

Arcadia Economics:  7-10-2024

Vince Lanci: 'If West Wants To Trade With BRICS, They Need More Gold'

As the BRICS nations continue to move their plans forward to a potential gold-backed trade settlement currency, you have to wonder how that will affect the west over time.

Because if an oil producer can sell their oil and receive currency with a partial gold-backing, will they still want to accept treasuries in the current environment?

So in this morning's show, Vince Lanci talks about how if the west is going to continue to trade with the resource rich BRICS nations, they're going to need more gold.

 To find out why, click to watch the video now!

https://www.youtube.com/watch?v=6aRWrviaRz0

Coffee with MarkZ and Zester. 07/10/2024

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Coffee with MarkZ and Zester. 07/10/2024

Member: gm markz and all peeps. hope everyone's doing well.

Member:  Big infrastructure plans in Iraq…need a revaluation to make it happen there!

Member:  another amazing day lost in wonder.... wondering if this is our week

MZ: The chatter really is great right now

Member: I say less chatter and more actions is what we need…lol

Member: ain't it time to flatten that can so it can't be kicked??

Member: Charles Payne talking about great wealth transfer 2PM Fox business today

MZ: I wonder what there take on it is? Because there are 2 attempted wealth transfers going on right now.

Member: Yes the deep state globalists to control everyone….and the QFS /BRICS reset who wants to free everyone….imo.

Member: Ours will be gold backed their wealth transfer will not be

Member: Love Charles Payne. Only guy speaking out about short sellers. Trading more shares than actually exist.

Member: Exact quote from Charles - greatest transfer of wealth ever is coming.

Member: Ready to do 2 happy dances, one happy dance for Nesara and one for RV !

MZ: “ Plenty of room for Vietnam to bolster exports to US” A great little piece about how they have room to greatly improve exports to the US and help that void we are getting in the Chinese markets.

MZ: And we continue to hear they need to raise their currency…as it is under valued

MZ: “Saudis threaten to sell European bonds if Russian assets were confiscated”  this is important. Europe backed down because Saudi owns enough European bonds to implode the market. When they threaten to sell their European and US denominated bonds…..they (US and UK) had to back down….as selling those would implode the bond market.

MZ: The bond market right now is being used to prop up almost every Western government…..without the bond markets every one of the central banks will implode. So who has the power here?  The crown prince of Saudi Arabia.   If countries dump their US/ UK bonds – the west implodes. Japan has already been dumping their US treasuries….China owns a huge amount….IMO we are watching the “kill switch” on the Petrodollar.

Member: Any historic bond or banking news?

Member: Bondholders & Beached Whales still waiting in Reno. Resorting to squatting & living in the streets with the tent people!!!

MZ: About the bonds and the bond side…What I can and cannot share is getting very difficult. They are locking things down hard for a very good reason. But I am getting more and more confirmations about this week. And more and more contacts disappearing and under NDA’s. There is a lot of pressure for them not to speak.

MZ: Most of the movement I think we are seeing is from the Dragon Historic bond side and the German Historic bond side. They are being pushed to not upset the apple cart or throw anything off.

Member: If I signed an NDA- I would be quiet as a mouse…..just saying……

MZ: I wish I could tell you all how content I am with the progress there. But I would upset the apple cart if I said to much.

Member: Yes…stay quiet…no one likes bruised apples…..

Member: Anything from Iraq?

MZ: They told us they plan to activate and distribute the lower denominations in the month of July. We do expect some big announcements around the 19th of July. We know they pan on the HCL hydrocarbon laws settled in the month of July and we know they are presently in meetings with the US sstate department and military to set up the withdrawal of US forces from active participation on day to day operations in Iraq.

MZ: The US will still have bases there but will not participate in policing Iraq. This is one of the necessary keys to them reinstating their currency.

MZ: Iraq has also paid off many of their loans. And Iraq has been very upfront (from finance contacts there) that they had planned to release the new rate in June….Now they plan on releasing it in the month of July.

MZ: Also I have a government contact in Iraq who said  “We have a new rate and will activate it soon” That’s an overview in case you all have missed it

Member: And the Iraq/WTO big meeting for ascension is july 18th…looks like that week is going to be very busy worldwide!!

MZ: The news from Iraq and the bond side has been amazing.

Member: Im new- what is HCL?

MZ: it’s the Hydro carbon Law. An agreement how money and revenue from oil is going to be shared with the Kurdish region of Iraq

Member: I Thought it also gave oil payments to all the citizens of Iraq like what Kuwait does?

MZ: Before I forget there has been a lot of unusual EAS testing throughout the US. Not normal

MZ: We do have an IRS EAS (Emergency Alert System?) scheduled for the entire nation coming on July 18th for some reason. They have been desperately trying to update emergency contacts for government employees over the last couple of months. They are doing the same for the FBI and almost every level of the US government in case there is a crisis or a government shutdown.  to me that tells us something very big.

Member: 4th of July - Independence Day is July 17th on the Julian calendar (Military time)

Member: keep up the awesome news mark and mods! appreciate you all getting us through this blessing

Member: The best is yet to come.

Zester joins the stream today with Crypto currency news…. Please listen to the replay for his opinions and information

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

MARK’S TELEGRAM ROOM FOR WORLD NEWS EVENTS & CHAT? LINK: https://t.me/TrollingNews_telegram

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=C_77RUB1okw

Iraq News Highlights and Points To Ponder Wednesday AM 7-10-24

What Is The Relationship Between Customs And The Rise In Exchange Rates In Iraq?

Local  Economy News – Baghdad  Today, Wednesday, economic expert Ahmed Al-Hedhal identified the relationship between the rise in the dollar exchange rate and the customs file, while stressing the importance of controlling the northern and southern borders.

Al-Hathal said, in an interview followed by "Al-Eqtisad News", that "the problem of the high exchange rate of the dollar in Iraq is customs," stressing the importance of "controlling the northern and southern borders."

He pointed out the "necessity of controlling fictitious invoices and facilitating the task of small traders, and involving the Central Bank in auditing invoices from the borders," adding: "Electronic payment and forcing people to use it and to deal in the dinar has nothing to do with the rise of the dollar."

The economic expert said, "Electronic payment has become a tool that facilitates the process of reverse transfers and black transfers," indicating that "the hasty decisions that are taking place are due to escaping from reality."

 Al-Hathal confirmed that "the domestic dollar is being smuggled out in 'trucks'."

Views 37  2024/07/10 - https://www.economy-news.net/content.php?id=45077#hathalyoum

5 Billion Riyals Is The Volume Of Trade Exchange Between Saudi Arabia And Iraq

Money  and business  Economy News – Baghdad  The Saudi-Iraqi Business Council estimated the volume of trade exchange between the two countries at 5 billion riyals, with an annual growth of 12%, according to the council’s chairman, Mohammed Al-Kharif.

The Council stated in a report reviewed by "Al-Eqtisad News" that the Council is working to develop Saudi investments in Iraq, in conjunction with the interest of the private and governmental sectors in the Kingdom in investing in Baghdad.

He pointed out that Iraq is preparing to propose a law to protect Saudi-Iraqi investment and discuss it before Parliament in preparation for its approval in the coming few months, to enhance economic cooperation between the Kingdom and Iraq, according to a statement issued by the Federation of Saudi Chambers.

In December of last year, Saudi Arabia and Iraq signed a partnership agreement in the field of private sector industrial investments, while the Kingdom’s ambassador at the time confirmed that there were many investment opportunities being studied.

Last November, Saudi Investment Minister Khalid Al-Falih also announced that the Kingdom is studying the launch of the first free economic zone with Iraq, in the border area of ​​Arar, expressing his hopes that the zone would be the first free economic zone with a neighboring country without taxes, fees or entry visas to serve investors in both countries.

5 Billion Saudi Riyals Equals 1,333,082,700.00 US Dollars.  2024/07/10 https://economy-news.net/content.php?id=45074

An Economic Vision That Defines The Relationship Between Neighboring Countries And The Rise Of The Green Currency In Iraq

Money  and business   Economy News – Baghdad  Today, Tuesday, economic expert, Dhurgham Muhammad Ali, identified the relationship between neighboring countries and the rise in the dollar exchange rate in Iraqi markets, while confirming that these countries opened factories inside the country as a result of the ban on importing their goods.

Ali said in a televised interview followed by "Al-Eqtisad News", "There is a demand for the dollar from countries with which Iraq has trade relations, from countries economically sanctioned by America, and therefore it is forbidden to make any financial transfers to them."

He added: "Therefore, cash is withdrawn from the markets, and payments are made directly to merchants for the goods from which the goods are imported, which are Iran, Syria and Lebanon," indicating that "these countries do not obtain the dollar officially, but they sell using the cash sales system."

He pointed out that "Syrian, Iranian and Lebanese goods are cheap, medium-cost and of high quality, so they are in great demand in local markets and dominate the Iraqi market, especially in the fruit and vegetable sector and food industries."

Regarding the goods whose import is prohibited, he said, “These countries have opened factories in Iraq in order to manufacture the goods whose import is prohibited during the government of Adel Abdul Mahdi, inside the country and transfer the profits to them.”

[rtl]Exchange rates in the Iraqi markets have witnessed a significant increase recently, reaching 150,000 dinars for every 100 dollars. 78 views 07/09/2024 - https://economy-news.net/content.php?id=45034

Calls To Put A Limit On Exchange Rates In Erbil

In video  2024-07-10 | 07:20  Dollar exchange rate: Discontent with exchange rate fluctuations and demands to put a limit on pricing

Currency traders in Erbil province expressed their dissatisfaction with the fluctuation of the dollar exchange rate, amid calls for the federal government to put an end to controlling the pricing.

Details in this report with Riyad Aziz.     LINK

MP Points Out 5 Government “Failures” In The Dollar Issue.. And Threatens To Hold The “Highest Authority” Accountable

Baghdad Today - Baghdad   Member of the Parliamentary Legal Committee, Representative Raed Al-Maliki, reviewed today, Tuesday (July 9, 2024), 5 joints in which the government failed in the dollar exchange rate file, which led to the instability of exchange rates, while he threatened to hold accountable "the highest government agency."

Al-Maliki said in a statement received by "Baghdad Today", that "after more than 18 months since the beginning of the problem of the decline in the value of the Iraqi currency and the occurrence of a large gap between the official dollar exchange rate and the parallel rate, it has been confirmed beyond doubt that the procedures of the Central Bank and the "procedures of the government" and its advisors have failed to achieve stability for the dinar and reduce the gap between the two prices."

He added, "Therefore, we have no choice but to hold the relevant authorities accountable, especially the (Central Bank Administration) and the (government) for this failure that costs the state huge sums of money (trillions) that are wasted outside the budget, and billions that go into the pockets of the corrupt, whose addresses are many, and the people bear a great burden as a result of the dependence of the prices of most goods on the exchange rate in the parallel market, which is much higher than the official selling price."

He stressed that "the government will be questioned at its highest level due to the failure to achieve important points in the government programme and the waste of huge sums of money that our people are in great need of."

He explained that "in order not to be accused of speaking without knowledge and without understanding the nature of the problem and diagnosing the governmental failure and negligence, I will specifically identify the most prominent sources of failure that the procedures of the Central Bank and the government caused in the continuation of the problem and the waste of money, and they are:

1- The failure of the Central Bank and the government to determine Iraq’s position towards America in dealing with countries that the United States prohibits from using the dollar and restricts trade with, such as Iran and Syria, unlike other countries that succeeded in agreeing with America on a formula for dealing with Iran, Syria and Turkey without facing restrictions like those facing Iraq.

2- The government’s failure to control the ports and informal trade that depend on the parallel dollar. This is due to the government’s failure to unify customs policy and prevent informal ports, especially in Kurdistan, where there are more than 32 unofficial and uncontrolled ports or crossings.

3- The government’s failure to address the issue of (small traders), whose number exceeds, according to government information, (400,000) four hundred thousand traders and suppliers of goods in Iraq, who practice trade outside the official framework, and rely on the parallel dollar to cover their imports, as they evade using platforms and official transfer for tax reasons and to bypass the delay resulting from auditing transfers.

4- The failure of the Central Bank and the government to address the problem of speculation and commissions received by banks, as they buy the dollar at the official price of 132 and sell it at a price exceeding 140, without showing this in their records, and without deterrent legal accountability procedures.

5- The failure of the Central Bank and the government’s procedures to provide travelers with dollars, and this file turned into a corruption file, the cost of which was estimated at (600 billion dinars) according to oversight data, due to the collection of dollars for travel purposes without verifying the travel or the actual need (fictitious cases).

These five points represent the most prominent reasons for the problem of the gap in the dollar price and its instability, and because of them billions are lost and wasted. In addition to that, Arab and foreign banks entered and took over the currency auction under the pretext of facilitating the procedures for dealing with international banks, so their profits increased at the expense of Iraq.

He explained that "in light of this, our responsibility as representatives who are not participating in this government and who oppose the quota system, and who have sworn to protect the interests of the people, requires us to take all constitutional, legal and popular means to stand up to this failure and mismanagement that has wasted the people's money and harmed the Iraqi economy.

We will join hands with all those who stand with us from the honorable representatives from the other blocs, who we know are not satisfied with the situation and we hope they will rise up against it."  LINK

6 Frugal Habits Money Experts Disagree On

6 Frugal Habits Money Experts Disagree On

Cindy Lamothe  Mon, July 8, 2024  GOBankingRates

There is no end to all of the financial advice you’ll see on the internet. Money influencers will say one thing — and then you’ll promptly read a rebuttal.

If you’re trying to stay on budget, knowing how to spend wisely should be your priority. That’s why it’s important to weigh all sides of an argument and arrive at your own conclusions.

Here are some of the top frugal habits money experts disagree on.

Skipping the Latte

“Some money experts still swear by practices like ‘skip the latte, buy a home’ when today that couldn’t be further from the truth,” said Dan Kroytor, director of TailoredPay.

“Even if you skip the $6 latte you buy daily every day for 10 years, eventually, that amount of money — for example, $21,900 — will still not be enough for a down payment on a home 10 years from now,” he said. “Especially considering real estate is only getting more expensive.”

Kroytor suggested a balance of being frugal and doing things you enjoy. “The argument is whether it’s more important to be economical and frugal instead of doing things we enjoy,” he explained. “While other experts may disagree, I see no reason why we can’t do both. Know your goals, know what’s realistic and then budget for both.”

Buying in Bulk

“Let’s consider the popular frugal habit of buying in bulk to save money,” said Esther Strauss, co-founder of Step By Step Business. “Many financial experts advocate for this approach, citing the lower per-unit cost of items when purchased in larger quantities.

“However, I take a more nuanced stance on this practice,” she explained. “While buying in bulk can indeed be cost-effective for consumables that you use frequently, it can lead to overspending and waste in other scenarios.”

For example, Strauss said buying perishable items, like fresh produce or dairy, in bulk often results in throwing away unused portions that have spoiled. “This negates the savings and contributes to food waste,” she said.

Similarly, Strauss said that bulk purchases of nonperishable items can lead to overconsumption or stockpiling of goods you don’t really need.

“For families in smaller living spaces, storing large quantities of products can also become an issue, leading to clutter and disorganization,” she noted. “My perspective is influenced by observing consumer behavior and the misallocation of resources that bulk buying sometimes encourages.”

Strauss suggested a more balanced approach. “Instead, I recommend a more tailored approach: buy in bulk selectively, focusing on items that you are certain to use and have the space to store efficiently,” Strauss added. This method, she said, ensures that the benefits of buying in bulk are realized without the accompanying pitfalls.

To Read More:

https://www.yahoo.com/finance/news/6-frugal-habits-money-experts-110054778.html

News, Rumora and Opinions Wednesday AM 7-10-2024

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 Wed. 10 July 2024

Compiled Wed. 10 July 2024 12:01 am EST by Judy Byington

Global Currency Reset: (Rumors/Opinions)

Judy Note: On Wed. 10 July a World Debt Jubilee was set to break the chains of our Financial Slavery by bringing in the Global Currency Reset of 209 Sovereign nations to a gold/asset-backed currency standard.

The entire US Financial System which has been bankrupt for going on 17 years (since 2008) while running on the fiat US Dollar, was now officially broke.

At this point the Globalists planned to keep the World enslaved by bringing in their Great Reset of fiat digital currency that could control everyone’s bank account – including what one traveled, bought and ate, or were unable to eat, with man made food shortages.

However, the Alliance was one step ahead, and had already used the Global Currency Reset to back up a Checkmate.

Tues. 9 July Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#, 667-770-1865

I was told that this was the week for this to go and one of our sources said this should be our week.

Three different sources said that Wed. 10 July was the start of Debt Jubilee.

This means refunding to us trading benefits that were earned on our birth, marriage, divorce and death certificates. We will also get back Federal Income Tax, mortgage interest, credit card interest and bank loan interest that we paid.

Those 62 and older will be given a lump sum payment.

The final email to go out to Redemption Centers went to the leader that has jurisdiction over all of the redemption centers (3,400) that were East of the Mississippi. That email came in last Sat. at 10:03 am, but has not gone out yet to the Redemption Centers.

Our notifications to set our redemption appointments will follow that email by an hour or two.

Arrive at your appointment no earlier than 10 min. before your appointment. They do not want people loitering in the parking lot.

Wed. 10 July 2024 Debt Jubilee: BQQQM!!! The Debt Jubilee Begins July 10th! Prepare for the Revolution! – American Media Group (amg-news.com)

~~~~~~~~~~

Tues. 9 July MarkZ: “My Bond contacts are hoping to become liquid sometime this week, and we should do so three days later. …One Bond Holder said he didn’t get paid today but was guaranteed he would be paid this week. Another Bond Holder would not comment, meaning he was likely under an NDA.”… Sat. 6 July 2024: “More and more sources are telling me that serious money movement and us moving towards the banks somewhere around the weekend of Fri. – Mon.  12th-15th. No one knows the exact timing but they are certainly preparing lots of bank contacts for that time period, so I think it may speak well to where we may be on that.”

Mon. 8 July 2024 Wolverine: “It has started. It is a process hopefully completed by the 20th. I’m hoping to get the Green Light in a few days. …I am pleased to share this already viral video (showing a Thailand Attorney signing a notarized document marked Confidential). It is the signature for the Redemption Centers, where the gold standard is ready. Therefore, we too…We are ready to go. God bless you all.” …Wolverine

Mon. 8 July 2024: The QFS Revolution: Are You In or Out? Have You Started Banking with the QFS? All Banks are Transitioning Over Into the QFS! – American Media Group (amg-news.com)

~~~~~~~~~~

Global Financial Crisis:

Tues. 9 July 2024: Nine of the largest banks in the world are settling a long-running lawsuit that accuses them of conspiring to rig a $465.9 trillion market.   According to lawyers, ironically, the banks have been using an electronic exchange-like platform to trade the instruments themselves, but have barred investors and the public from using it: https://dailyhodl.com/2024/07/06/jpmorgan-chase-bank-of-america-and-7-mega-banks-paying-46000000-over-alleged-conspiracy-to-rig-trillion-dollar-derivatives-market/

Read full post here:  https://dinarchronicles.com/2024/07/10/restored-republic-via-a-gcr-update-as-of-july-10-2024/

*************

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

Frank26  The international community already has seen the new exchange rate.  IMO the international community is satisfied and happy and anticipating for what is about to happen.  It is not a secret.

Buckeyetree  "The dollar system is a thing of the past."  Sudani a while back told Iraqis to keep your dinars because the dinar will be stronger than the US dollar, that is, more valuable.  IMO, so many will be affected in a good way from the reinstatement except for Iran and the politicians, no more stealing via the auctions which is a good reason not to delay further. IMO, the new lower notes with security features will be very pretty.

Central Banks Reasons for High Exchange Rate

Nader: 7-9-2024

Jabber Koran's list of reasons to blame the central bank for the high exchange rates in Iraq.

https://www.youtube.com/watch?v=jUWAy9shL1s

LIVE! TODAY, THE FED. HAS SET THE STAGE FOR ITS FINAL SOLUTION... CRITICAL UPDATES!

Greg Mannarino:  7-9-2024

https://www.youtube.com/watch?v=iRyeqzvV6bg

“Tidbits From TNT” Wednesday Morning 7-10-2024

TNT:

Tishwash:  91% of the Iraqi currency is outside the banking system

Economist Munar Al-Obaidi announced that the money supply rose to more than 102 trillion dinars until last June.

Al-Obaidi said, "The currency issued by the Central Bank of Iraq rose to reach 102.3 trillion Iraqi dinars at the end of June, with an annual growth rate of 2.4% and a monthly growth rate of 3%."

He added that the value of the currency outside the banking system rose to 93 trillion Iraqi dinars, after it was 90 trillion Iraqi dinars in March.

He pointed out that the percentage of cash outside the banking system reached 91%  link

Tishwash:  A new branch of Rafidain Bank applies the comprehensive system.. this time in Diyala

Rafidain Bank announced today, Wednesday, the implementation of the comprehensive banking system in Diyala.  

The bank's media office stated in a statement that "in implementation of the government program to move from paper transactions to electronic transactions to provide the best services to citizens, the comprehensive banking system has been implemented in the Baladruz branch in Diyala, thus joining the branches that have activated the comprehensive system in Baghdad and the governorates in addition to the border crossing branches (Zurbatiya - Safwan - Arar - Trebil), so that the number of effective and completed branches of the system becomes (32) branches in an important step to strengthen the banking system and achieve its requirements and leave paper work and move completely to electronic systems."

 The bank confirmed that "the digital transformation plan and the adoption of the comprehensive banking system are proceeding according to the scheduled timings to include all branches of the bank in the implementation of the system, especially since the priorities and adoptions of the government program include electronic transformation in financial transactions, reducing the circles of routine for citizens, shortening time, simplifying procedures, overcoming obstacles, and intensifying efforts to improve the level of services provided to customers and completing their transactions."  link

************

Tishwash:  Hot legislative session for parliament with amnesty, oil and property laws - Urgent

The Parliamentary Oil and Gas Committee revealed, on Wednesday, a number of draft laws that will be voted on during the second legislative term of the third legislative year of the House of Representatives.

“There are a number of draft laws that will be voted on during the second legislative term of the third legislative year, including the twenty-first amendment to the Personnel Law No. 25 of 1960, which includes a wide segment of employees of the ministries in the state, in addition to the general amnesty law that does not include terrorists and ISIS members, but there are oppressed people in prisons, as well as the law amending the Martyrs Foundation Law, and also among the important draft laws is the service and retirement law for the fighters of the Popular Mobilization Authority,” said committee member MP Alaa Al-Haidari in a statement to Al-Rabia.

He added that "there are also a number of proposals, including a draft law to include some victims of natural disasters, including the Ibn al-Khatib Hospital incident, the incident of teachers in one of the schools in the Safwan Cases Center in Basra Governorate, the incident of students in the al-Hartha district in Basra, and other incidents in Maysan Governorate," noting that "these proposals will be discussed and put forward for the purpose of voting on them and providing justice to their families."  link

************

Tishwash:  Parliamentary effort to question the Central Bank: Costs Iraq trillions and threatens the economy

Member of the Legal Committee, Raed Al-Maliki, announced on Tuesday that he is seeking to hold the relevant authorities accountable, especially the Central Bank administration and the government, due to the failure of their procedures to address the crisis of the decline in the value of the Iraqi currency and the large gap between the official dollar exchange rate and the parallel rate.

Al-Maliki said, in a press statement received by Shafaq News Agency, that the continued failure of the Central Bank and the government to achieve stability of the dinar and reduce the gap between the two prices led to the waste of huge sums of money and exacerbated the suffering of citizens. 

He pointed out that these conditions resulted in the state incurring trillions of dinars and enriching the corrupt at the expense of the people, as the prices of most goods depend on the parallel price, which is much higher than the official price.

Al-Maliki also pointed out that the failure of the government and the Central Bank to deal with the exchange rate crisis was embodied in several main aspects, the first of which is the government’s inability to determine Iraq’s position on countries banned from using the dollar, as it failed to reach an agreement with the United States on how to deal with Iran and Syria, while other countries were able to find formulas of understanding in this regard.

The "second failure," according to Al-Maliki, is embodied in the government's inability to control the ports and informal trade. It has failed to unify customs policy and prevent informal ports in the Kurdistan Region, which includes more than 32 informal ports.

The third failure, MP Al-Maliki says, is the failure to address the issue of small traders, whose number exceeds 400,000 traders in Iraq, who rely on the parallel dollar to avoid official procedures and taxes.

Regarding the fourth failure, the government and the Central Bank, according to Maliki’s statement, failed to address the problem of speculation and commissions in banks, as banks buy the dollar at the official price and sell it at higher prices without any legal accountability.

Finally, the fifth failure, according to the statement, is embodied in turning the file of providing travelers with dollars into a corruption case that cost 600 billion dinars, as dollars are collected for fictitious travel purposes without verifying the actual need for travel.

Al-Maliki added that these points represent the most prominent reasons for the continuation of the exchange rate crisis and the waste of money, pointing out that Arab and foreign banks have entered the currency auction and increased their profits at the expense of Iraq.

The MP stressed that he will use all constitutional, legal and popular means to confront this failure and mismanagement, calling on MPs from other blocs to support these efforts in order to protect the interests of the Iraqi people.

For his part, MP Majid Shankali called on the Council of Ministers to take decisive and bold decisions related to the financial reality in Iraq.

In a statement received by Shafaq News Agency, Shankali stressed the necessity that these decisions be preceded by the process of building trust between the citizen and the banking system, which is currently suffering from a significant lack of this trust. 

In this context, Shankali called for banning dealing and trading in dollars in buying and selling operations, in a step aimed at enhancing the use of the Iraqi dinar and reducing dependence on foreign currency. He also called for not allowing citizens to hoard amounts exceeding ten thousand dollars or its equivalent outside banks, in order to limit financial evasion and enhance official banking practices.

Shankali also stressed the need to encourage and stimulate electronic dealing in financial transactions, pointing out the need to start implementing these decisions gradually to avoid creating new crises, stressing that these procedures must be well thought out and based on gradual steps to ensure achieving the desired financial goals without causing additional problems for citizens.   link

Mot: Say - How Hot Was it there Today!!!! 

Mot: .. Maybe avoid Death Valley this week

Iraq Economic News and Points To Ponder Tuesday Evening 7-9-24

Sudanese Advisor: The Iraqi Central Bank Will Address The Rise In The Dollar.. What About The Inflation Rate?

 Money  and business  Economy News – Baghdad  Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Saleh, said that the Central Bank of Iraq will address the recent rise in the dollar exchange rate, noting that  annual inflation in the country only exceeds 3%.

 In an attempt to control dollar smuggling, the Central Bank issued in previous times a number of measures with the aim of contributing to raising the value of the dinar or reducing the large demand for the dollar.

 The difference between the official exchange rate of 1,320 dinars per dollar and what is sold in the market still encourages dollar smuggling networks to increase their activity to achieve profits, in addition to the impact of this matter on the daily life of the Iraqi citizen.

Recently, the exchange rate of the US dollar against the Iraqi dinar rose to about 1,495 dinars.

 "Highest international reserve base"

 Mazhar Muhammad Salih said, “The fixed exchange rate system in Iraq is based on a base of international reserves that are the highest in the history of Iraq and its monetary policy, and the foreign currency covers a percentage of more than 100% of the total currency currently exported.”  He explained,

"In light of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in influencing the stability of the general price level, which has become stable in its components and trends as a result of the influence of the exchange rate factor."

The official financing currently dominates foreign (import) trade financing, amounting to 1,320 dinars per dollar. Saleh pointed to

 “the stable trend of the exchange rate, centered around the stable external value of the dinar, which is embodied by the state of stability in the relative prices of goods and services to a large extent, as annual inflation in our country does not exceed only 3%.” The Prime Minister’s Advisor for Economic Affairs noted that,

  “In light of the strength of the foreign reserves supporting the Iraqi dinar, whose value as liquid foreign assets exceeds 100 billion dollars, the official exchange market, as a general trend, will remain dominant in containing any colored noise or ambiguous information that is affected by the parallel market.” For disbursement in short periods, due to urgent international or regional political events here and there, or in adapting some instructions regulating the monetary market.  Saleh stressed that

 "The decline of the phenomenon of dollarization"

 “after the decline of the phenomenon of dollarization in internal transactions, especially in contracts, obligations and payments inside the country since last year and its legal ban, the parallel exchange market has begun to have its general impact today only on a narrow economic scope of prohibited transactions, practiced by informal markets at a rate of 10%.” “Of the total transactions of supply and demand for the currency.” 

He explained that   “the stability of the dinar-to-dollar exchange rate that the country is witnessing, even in the secondary markets mentioned above, is a real and established stability.

 Rather, it is derived from the strength of the influence of the price and quantitative factors of the monetary and financial policies, and

 their integration in imposing overall price stability in the country, and containing the inflationary expectations that they were causing.” Parallel exchange market forces during the past years.

 The Prime Minister's Advisor for Economic Affairs pointed out that

 "the informal secondary market, due to the freedom of external transfer, is under the influence of the official exchange market rate, whose operations are constantly expanding in the interest of dealing at the fixed official exchange rate.  - https://economy-news.net/content.php?id=44995     

91% Of The Iraqi Currency Is Outside The Banking System

 Money  and business  Economy News – Baghdad   Economist Manar Al-Obaidi announced that the monetary supply had risen to more than 102 trillion dinars as of last June. Al-Obaidi said,

  “The cash currency issued by the Central Bank of Iraq increased to reach 102.3 trillion Iraqi dinars at the end of June, with an annual growth rate of 2.4% and a monthly growth of 3%.”  He added that the

 value of cash outside the banking system rose to 93 trillion Iraqi dinars after it was 90 trillion Iraqi dinars in March.  He pointed out that the percentage of cash outside the banking system reached 91%.

 observations 373     07/09/2024 - https://economy-news.net/content.php?id=45032   

Adviser To The Prime Minister: Iraq Is In The Process Of Repaying Long-Term Development Loans To The World Bank

 Economy    6-07-2024, 12:11  Baghdad - IA - Nassar Al-Hajj   The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Saturday, that the  zeroing of debts to the International Monetary Fund reflects the high and solid creditworthiness of Iraq, while he indicated that  Iraq is in the process of repaying long-term development loans to the World Bank.

Saleh said to the Iraqi News Agency (INA):  “Iraq entered into about 5 programs with the International Monetary Fund from the year 2004 until the end of the year 2018, including 3 credit preparedness programmes, and

 all of them were characterized by providing loans whose function was to support a state of stability and economic reform in Iraq and in two directions: the

First: Loan Programs: Iraq received loans from the International Monetary Fund to help it overcome economic crises, as  these loans included supporting the general budget and financing economic stability programs, especially during the war on ISIS terrorism. 

He added:  “As for the other trend: in the field of economic reforms, the International Monetary Fund usually requires countries that receive loans to implement certain economic reforms.

 In the case of Iraq, these reforms included improving the management of public finances and the banking sector, enhancing transparency, combating corruption, and reforming the financial sector.” energy". 

He pointed out that  "these loans did not exceed $5 billion per loan, and the actual withdrawal from them would not exceed $3 billion or more in each case, according to a repayment program that takes place every 6 months with grace periods for two years before repayment, with moderate annual interest, which usually does not exceed 4.5%, and the terms of these loans do not exceed five years.” 

He pointed out that   "Iraq has repaid the loans that were withdrawn during the last twenty years and according to regular payment mechanisms, and   stage of zeroing is approaching unless they are all zeroed today,

 which reflects the high and solid creditworthiness of the Republic of Iraq in repayment before the international financial community in particular and before international financial organizations." multilateralism in general. 

He continued:   “But certainly there are long-term development loans belonging to the World Bank that are still in place, which is another development financial organization, and for a number of billions, they are in the process of being repaid, and

 some of them are still in the process of committing to withdrawing them to be spent on completing the development projects contracted with the World Bank, and  they are long-term soft loans as well.”".

He stressed that  "cooperation relations continue between Iraq and the International Monetary Fund in various fields, including providing technical advice and supporting economic policies," noting that

 "the relationship between Iraq, the International Monetary Fund and the World Bank is important for achieving economic stability and sustainable development in the country."  He pointed out that

 "Iraq is a founding member of the International Monetary Fund and the World Bank since 1945."  

 https://www.ina.iq/212088--.html

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Advice :

Be frank and explicit. That is the right line to take when you wish to conceal your own mind and to confuse the minds of others.  - Benjamin Disraeli

Put all thine eggs in one basket and - watch that basket.  - Mark Twain

It has seemed to be more necessary to have regard to the weight of words rather than to their number.  - Cicero

Don't offer me advice, give me money.  - Spanish proverb

If you aren't rich, you should always look useful.  - Louis-Ferdinand Celine

He who can lick can bite.  - French proverb

When a man comes to me for advice, I find out the kind of advice he wants, and I give it to him. - Josh Billings

We only make a dupe of the friend whose advice we ask, for we never tell him all; and it is usually what we have left unsaid that decides our conduct.  - Diane de Poitiers

I give myself, sometimes, admirable advice, but I am incapable of taking it.  - Mary Wortley Montagu

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

http://famousquotesandauthors.com/quotes_by_topic.html