News, Rumors and Opinions Tuesday 7-16-2024

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 Tues. 16 July 2024

Compiled Tues. 16 July 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Sun. 14 July 2024 Wolverine: “It has started. This report came through today (Sun. 14 July): “Zurich, London, Toronto and Reno now confirm activation ends today (Sun. 14 July), with payments held on Monday (15 July). Most platforms will send notification over the weekend and start payments on Tues. (16 July). Reno actually started payments (to Whales) yesterday (Sat. 13 July). Ok. Have a beautiful day.”

Mon. 15 July 2024 Baratel’s “Bond Holder” contact isn’t paid, however this guy’s “colleagues” got paid: https://rumble.com/v571j4c-monday-morning-news-baratel-and-jentel.html

Read full post here:  https://dinarchronicles.com/2024/07/16/restored-republic-via-a-gcr-update-as-of-july-16-2024/

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

Militia Man   This next week there's supposedly a formal and historic meeting with the WTO and Iraq on the basis of accession... They told us it was going to be formal and historic...

Buckeyetree  ...Much progress has been made from the USA trip by Sudani in April, the technology with fiber optics, electronic banking, using only the dinar, foreign contracts with huge projects, the ATMs, and the HCL practically done with Barzani in agreement for the goal not to be now counted in days rather than weeks and months. The cherry on top would be securing the Speaker of the HOR and ascension to the WTO on July 18.

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TNT:

Iraq advances one place in the world's gold reserves

The World Gold Council announced today, Monday, that Iraq has advanced one place in the list of countries with the largest reserves of the precious metal in the world.

According to the latest table published by the Council in July, which was reviewed by Al-Eqtisad News, it advanced to 30th place out of 100 countries listed in the table with the largest gold reserves, after it was ranked 31st globally, and fourth in the Arab world after Saudi Arabia, Lebanon and Libya.

According to the table, Iraq maintained its gold holdings unchanged, reaching 1,457 tons, which represents 10% of its other reserves.

The Council pointed out that "the United States of America tops the list of countries with the largest gold holdings in the world, with 8,133.5 thousand tons, followed by Germany with 3,351.5 thousand tons, then Italy with 2,814 thousand tons, while Suriname came in last with 1.2 thousand tons."

The World Gold Council is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world  link

EXCELLENT NEWS Iraq's GDP News IQD Rate Fluctuation

Edu Matrix:  7-16-2024

EXCELLENT NEWS Iraq's GDP News Rate Reached 1306 IQD - In 2024, Iraq Has the 5th Largest Economy in the Arab World.

https://www.youtube.com/watch?v=ZlEPDacb5Rc

An UNSTOPPABLE WALL OF EXPANDING HYPER-DEBT IS RAPIDLY APPROACHING. ARE YOU READY?

Greg Mannarino:  7-15-2024

https://www.youtube.com/watch?v=931XoR7xSek

“Tidbits From TNT” Tuesday Morning 7-16-2024

TNT:

Tishwash:  Iraq resumes negotiations to join WTO

 Minister of Trade and head of the Iraqi team concerned with joining the World Trade Organization, Athir Dawood Al-Ghariri, announced on Monday the resumption of negotiations to join the World Trade Organization, after a hiatus that lasted more than 16 years.

A statement by the ministry, seen by "Al-Eqtisad News", quoted the Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, as saying that "the Iraqi negotiating teams have begun their preparatory meetings at the headquarters of the World Trade Organization in Geneva, in preparation for the third meeting of the working group on Iraq's accession."

Al-Hashemi added that "the first preparatory meeting was held at the organization's headquarters with the Director of the Accession Department and the organization's experts in goods, services and intellectual property, headed by the Director General of the Department of Economic Relations and the membership of negotiators representing the Iraqi ministries and the Kurdistan Region; to discuss the most important files and documents submitted by Iraq in the previous stage." 

He pointed out that "the third official meeting of the working group, which will be headed by the Minister of Trade representing Iraq, will witness a review of the files and documents completed by the National Committee concerned with accession."

He continued, "This is the first time that the Iraqi negotiating team has reached this level of experience in the field of negotiation, which reflects the development of their capabilities and efficiency in dealing with complex issues related to WTO membership  link

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Pros and cons of Iraq joining the WTO

Appearance of Mohammed Saleh

Since 2003, Iraq has adopted broad open policies towards the world and sought to establish important economic and legislative rules that operate according to the mechanisms of the market system, most of which helped improve Iraq’s foreign trade, after an economic blockade that lasted for more than a decade and led to Iraq’s marginalization on the map of the global economic system and deprived it of investment opportunities, progress, development and technological knowledge that should have helped it confront the rapid developments and changes that international markets have witnessed and whose competitive capabilities have changed dramatically over the past two decades at least.

Thus, Iraq became isolated from its international environment in the midst of a world swept by the currents of merging its companies, liberalizing its markets and integrating them, especially the financial ones, and the dominance of the new liberal doctrine, which required broad economic transformations in the field of information technology that became in harmony with the internationalism of productive activity through the role that multinational companies began to play and the increasing competitive advantage of the products that the world markets began to generate.

However, we find in the integration of financial markets, whose assets exceed $850 trillion, the main title of financial globalization and the main focus of dominance in the globalization of the new liberal economy. At the same time, it represents the trend of transition in the axes of international trade and the introduction to the transformation from the scope of the GATT Agreement signed in 1948 to the World Trade Organization Agreement (WTO), where the latter focused on regulating a wide range of trade in services, especially financial services, whose annexes were called the GATS Agreement in 1994 based on the Uruguay Round.

While the gross domestic product of the world's 192 economies does not exceed $83 trillion annually at present (and the value of world trade in goods and services has also not increased annually by more than a third of the aforementioned global output), we find that trade in currency conversion, speculation, and short-term capital movements exceeds about $4.5 trillion daily in international monetary and financial markets, a speculative financial trade whose annual total exceeds more than fifty times the total global trade in goods and services.

In the midst of these changes in the international commercial and financial space, Iraq has moved to important organizational levels in the transition to a market economy to break the effects of its international isolation by engaging in a strong area of ​​economic liberalism that focused on liberalizing the areas of Iraq's foreign trade in goods and services and the means of financing them, despite the fluctuations in its organization.

As well as the development and expansion of areas of progress achived in some financial services and improving the environment for foreign investment through the legislation of the banking and investment laws and the Central Bank Law, which allows foreign banks to operate in Iraq and allows the transfer of capital and currency in a manner that serves Iraq's openness to the world in the conditions of a central rentier economy that is difficult to deal with in understanding market liberalism, which nevertheless led to providing positive opportunities and promising legal and organizational foundations for the Iraqi business environment.

However, all of this is not enough to put Iraq on the path of international economic competition. There are still more than five thousand legislative texts that hinder economic freedom and market activity, which are being studied by legal circles and which must be amended so that Iraq can integrate into international trade and investment and prepare it to join the World Trade Organization according to the terms of membership in it so that our country can obtain the most-favored nation status and the principle of national treatment.

However, the paradoxes of joining revolve around the issues of oil and agriculture, in addition to other problems of joining.

While oil sector production dominates nearly 50% of Iraq’s GDP, the sector employs only 2% of the Iraqi workforce, and the country’s crude oil exports and revenues constitute the near-absolute majority of total exports, general budget revenues, and foreign exchange earnings.

 In light of all this, the World Trade Organization excludes crude oil as a commodity within the group of raw commodities traded internationally, which remains the core of the contradiction in Iraq’s accession to that organization that excludes crude oil. If the World Trade Organization had allowed oil to be taken into account, the price would have been determined by global supply and demand, away from the cartel or consumer groups represented by the International Energy Agency and its lines and programs for rationalizing demand for oil. Or away from the cartel or producer groups represented by the Organization of the Petroleum Exporting Countries (OPEC) and its role in regulating production and influencing prices, which is the matter that imposed price and quantity restrictions on a commercial commodity, but a strategic and political one at the same time, which is the driving force of Iraq’s foreign trade.

On the other side of the Iraqi economy, we find the agricultural sector, which includes less than a third of the Iraqi population and about 22% of the Iraqi labor force, and does not contribute to the gross domestic product except by a percentage not exceeding 5%, which made the country a near-net importer of food or agricultural goods, the value of which exceeds 14 billion dollars annually. This important sector, which has been subjected to militarization and neglect over the past thirty years and more, does not have the sufficient components to provide food security in terms of grains or agricultural production requirements after the shrinkage of productive agricultural areas due to desertification, salinization, and the recent water crisis, which eliminated more than 50% of the lands prepared for agriculture, in addition to the deterioration of the agricultural infrastructure, 83% of whose components are controlled by the state as a public commodity.

Here the agricultural sector contradicts the oil sector structurally in the directions of openness to the global market and with two different wings in terms of the impact of commercial benefits and costs. The forces of the international market or global supply and demand have come to control strongly, whether in the demand for oil and its impact on the value of Iraqi exports or in the supply of food products and its impact on the cost of Iraq’s imports from them.

When referring to the philosophy of reducing customs restrictions by 24% and abolishing non-customs restrictions, which are the conditions imposed by the World Trade Organization on the member state in the group of developing countries to work with and implement them within a period of six years from the date of accession, in addition to reducing agricultural support by 13.3% within a period of ten years from accession

We find that these regulatory conditions of the World Trade Organization clash with the conditions and situations of the agricultural market and the global food stock exchange itself. If we look at the agricultural monopolies in the world in light of the deterioration of agricultural development in Iraq, we find a real threat to national food security that restricts the country in the event of joining the organization unless it is preceded by starting or following an agricultural program for self-sufficiency immediately.

We will really need a green revolution similar to what Mexico and many Latin American countries have done. Especially if we know that there are between 3 to 6 major monopolistic companies in the world that control 80 to 90% of agricultural crop trade and control prices and quantities such as wheat, sugar, tea, coffee, cotton, jute, etc. At a time when ten multinational companies still control a third of the world's seed and pesticide production and trade.

Despite the above, Iraq’s entry and integration into the global economic space through the World Trade Organization and its dealings with international groups on terms that apply to everyone from a formal standpoint at a time when the world is still divided between the countries of the North and the South or the countries of the advanced industrial center and the developing periphery, Iraq has no choice but to leave its international isolation that it inherited since the blockade that began in 1990, which placed Iraq under Chapter VII of the United Nations Charter or its aftermath, a chapter whose effects still provide a negative economic environment hostile to development and perhaps obstructing natural integration into the global market.

This chapter prohibits levels of investment in advanced technology or easy dealings with the world due to the restrictions it imposes on our country as a high-risk country that threatens world peace and allows the use of force against it in a regrettable legacy for the civilization of Mesopotamia despite the disappearance of the objective reasons for which the economic blockade was imposed on Iraq.

Noting that Iraq's accession to regional economic zones, such as the Greater Arab Free Trade Area and other economic agreements within the framework of the Arab League or other forms of regional integration and consolidation, must take into account the implementation of the provisions contained in the World Trade Organization Agreement and before it the GATT Agreement, both of which have become binding restrictions on the implementation of trade agreements. Thus, any trade facilitations within the framework of regional agreements become useless or worthless if they are less than the facilitations provided within the framework of the World Trade Organization.

Finally, Iraq's continued isolation from its international environment will cost it a lot due to the loss of organizational advantages and opportunities, technological and legal benefits, and other areas of investment and arbitration, which are opportunities that isolation from the world does not provide and does not enable a gradual transformation into a group of stable and low-risk countries, a transformation that encourages international cooperation in a secure global investment and trade environment, provided that effective development begins based on the strong push program.  link

Mot: ... Guys! -- This is to Help You Recognize those Rare Signs!!!

Mot: Reflctions of a Boomer

MilitiaMan: Iraqi Dinar - Dinar Update-2024 Budget-Acceleration to WTO-Value Chains-SAAVI-Formal and Historic

Iraqi Dinar - Dinar Update-2024 Budget-Acceleration to WTO-Value Chains-SAAVI-Formal and Historic

MilitiaMan and Crew:  7-15-2024

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=lW7oeToeMRg

Seeds of Wisdom RV and Economics Updates Monday Evening 7-15-24

Good Evening Dinar Recaps,

UNITES STATES CONSULTING FIRM SIGNS CONTRACT FOR IRAQ DEVELOPMENT ROAD

"By John Lee. Iraq's Minister of Transport, Razzaq Muhibis Al-Saadawi, announced the signing of a contract with Oliver Wyman, a consultancy firm, to provide advisory services for the Development Road project. Al-Saadawi stated that the consultancy will assist the ministry in marketing the project and overseeing investment opportunities. The contract, signed by Younis Khalid Jawad."

@ Newshounds News™

Read more:  Iraq Business News

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What is IOTA?

IOTA (MIOTA) is one of only 8 ISO 20022 compliant coins.

Iota aims to be the economic layer for the Internet of Things, bringing microtransactions and data storage to a network of connected devices. It uses a distributed ledger technology called the Tangle, which is based on directed acyclic graph technology rather than blockchain.

Iota began as a pivot from an IoT microprocessor venture called Jinn. The Jinn team held a crowds ale in September 2014, promising holders of its native Jinn token a share in the company’s profits.

 The team pivoted following concerns around the regulatory soundness of Jinn tokens. In 2015, the project announced Iota, a cryptocurrency network for IoT devices that utilized some of the cryptographic techniques researched and developed at Jinn.

Iota does not have blocks, miners or transaction fees as are featured in most public blockchain networks like Bitcoin or Ethereum. This is to allow the scalability and speed necessary for machine-to-machine microtransactions, which are denominated in its native token, MIOTA. Instead, each transaction validates the previous two transactions, achieving consensus first locally, then globally.

The Iota Foundation, a German nonprofit, is currently building out the Iota ecosystem.

@ Newshounds News™

Read more:  CoinTelegraph

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Cardano and XRP Win Fresh Listing

Horizon Protocol, a leading innovator in the DeFi derivatives space, has announced, in a tweet, the much-anticipated listing of XRP, Cardano (ADA), and Chainlink (LINK) on its flagship derivatives platform, Horizon Futures.

This exciting development, approved through Horizon Improvement Proposal 16 (HIP-16), signifies a significant step forward for Horizon Protocol in its mission to enhance user experience and expand access to diversified trading opportunities.

The upcoming launch, scheduled for Thursday this week, will allow users to leverage Horizon Futures’ robust features to trade XRP, ADA, and LINK with competitive advantages. This includes access to low fees, a user-friendly interface, and the ability to leverage positions up to 27.5 times.

Horizon Protocol emphasizes the importance of community involvement and acknowledges the valuable role its users played in the approval of HIP-16. This collaborative approach underscores Horizon’s commitment to fostering a thriving DeFi derivatives ecosystem.

Strategic Listings Bolster DeFi Offerings
Horizon Protocol views the listing of XRP, ADA, and LINK as a strategic move to bolster its existing suite of offerings and cater to a wider range of investors. These cryptocurrencies, all boasting an established market presence and strong communities, represent a valuable addition to the Horizon Futures platform.

Their inclusion aligns perfectly with Horizon’s vision of enriching users’ trading strategies and providing them with the tools they need to navigate the dynamic DeFi landscape.

To ensure a seamless integration process, Horizon Protocol will implement necessary system adjustments to accommodate XRP, ADA, and LINK on Horizon Futures. The team will also closely monitor the performance of these newly listed assets to inform future enhancements and potential additions to the platform.

Building on a Strong Foundation...

@ Newshounds News™

Read more:  Times Tabloid

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Newshound's Daily Breakdown Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

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Seeds of Wisdom Team™ Website

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Thank you Dinar Recaps 

Seeds of Wisdom RV and Economics Updates Monday Afternoon 7-15-24

(Due to some unforeseen new computer glitches this afternoon post was delayed)

Good Afternoon Dinar Recaps,

VND/USD EXCHSNGE RATE AS OF 7/15/24

"Reference exchange rate drops slightly at week’s beginning

The State Bank of Vietnam (SBV) set the daily reference exchange rate at 24,245 VND/USD on July 15, down 3 VND from July 13.

With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 25,457 VND/USD and the floor rate 23,033 VND/USD.

At commercial banks, the opening-hour rates also fluctuated slightly.

At 8:20 am, Vietcombank listed the rates at 25,237 VND/USD (buying) and 25,457 VND/USD (selling), both down 3 VND from the rates two days ago.

BIDV also cut both rates by 3 VND, listing the buying rate at 25,237 VND/USD and the selling rate at 25,457 VND/USD."

@ Newshounds News™

Read more:  Vietnam Net

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News Update: Fedwire ISO 20022 Timeline

In 2022, the Fed announced that the Federal Reserve Banks planned to adopt the ISO 20022 standard for the Fedwire Funds Service in a single-day implementation strategy on March 10, 2025. 

ISO 20022 is a globally accepted messaging standardization approach introduced in 2005 by the International Organization for Standardization with the goal of using the same language for all financial communications. 

The Fedwire migration marks a significant turning point in the modernization of the American payment system that complies with best practices and international standards.

Here are three key updates you need to know about the upcoming migration schedule/planned timeline.

Compliance Window:
At the end of October 2024, the compliance testing window will officially close. Any financial institution that wants to remain in compliance with ISO20022 needs to complete its testing with the Federal Reserve by that time.  

Post-Launch Integration
Compliance testing will resume two weeks following the launch (around late March).

Managing Non-Approvals
Organizations may choose to keep using the current method without paying penalties if they have not achieved compliance by the testing deadline. It's crucial to remember that ongoing use of Fedwire Direct requires compliance with ISO standards if a third-party solution is used for data loading. Therefore, financial institutions might not be able to use the solutions that are already available if these standards are not adopted and will be forced to manually load their wire transactions to the Fedwire Direct portal.

In partnership with the Federal Reserve, Alacriti has been proactive about ISO 20022. Alacriti’s solutions have all APIs built to the ISO 20022 standard, which is imperative for the RTP® network and the FedNow® Service, and also to accommodate the implementation that Fedwire has planned for 2025.

@ Newshounds News™

Read more:  Alacriti, ISO 20022 Timeline 

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SAB 121 IN THE NEWS AGAIN?

"The crux of the problem is the accounting rule forces assets under custody to be disclosed as both an asset and liability on the balance sheet, contrary to accounting convention.
This expands the size of the balance sheet on which banks have their capital requirements assessed. Hence, providing crypto custody would require banks to set aside large amounts of capital, making it prohibitively expensive."

"The saga has taken up a considerable legislator time. In May both the House (228 v 182) and Senate (60 v 38) voted in favor of a resolution to cancel SAB 121, followed by a Presidential veto. Last year the Government Accountability Office (GAO) ruled that SAB 121 was a rule that should have received Congressional approval. Plus, legislators wrote to bank regulators about SAB 121 multiple times."

"In March 2022 the SEC published SAB 121, apparently without consulting banking regulators. The rule impacts all listed firms, not just banks. However, if the potential impact on banks was immediately obvious to journalists, it’s odd that the SEC didn’t consider it."

"The issue is bigger than cryptocurrency. It’s widely believed that tokenization – of securities, funds and other real world assets – will see the rewiring of the financial system. The Bank of International Settlements, the central bank of central banks, frowns on crypto but is making a big push on tokenization.

In order for tokenization to progress in an institutional framework, it’s essential for assets to be held in custody by banks. The world’s largest custodian banks are American. BNY Mellon, State Street, JP Morgan, Citi and Northern Trust provide custody for $160 trillion in assets."

"While the United States prides itself on its sophisticated markets, institutional work on tokenization is happening elsewhere."

"Several U.S. firms are involved in the Singapore and European work. Resolving the custody issue could see a significant acceleration in activity on home soil."

@ Newshounds News™

Read more:  Ledger Insights

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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

FRANK26….7-15-24……IT’S AN RI !!!

KTFA

Monday Night Conference Call

FRANK26….7-15-24……IT’S AN RI !!!

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#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=3X5Ua8Yd27w

Monday Evening News with MarkZ 7-15-2024

Monday Evening News with MarkZ

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

Member: Good Evening (or late Afternoon) to all, and to all a good night's sleep - that which has deserted so many of us, lately.

Member: Well the stock market didn't crash today as predicted?

Member: boards are on fire today with bond news.

MZ: It will be even more on fire once I finish tonight.

MZ: I am hearing from multiple sources inside Iraq that they are expecting an RI (Re-Instatement)  at any moment.

MZ: I had been told very specifically that they expect a rate of $3.86. I am getting this from so many sources now …all of a sudden…today….that it has become almost overwhelming.

MZ: Just buckle up and stay calm. We see different rates often. My suggestion is to think lower on the rate so you are pleasantly surprised if its higher.

Member: Frank is saying the same thing…..It’s an RI!!!

Member: $3.86….good enough for me

Member: That rate would make me do a happy dance for sure.

MZ: I think this is exciting news and am hoping it is accurate.

MZ: I am also hearing that we are in the window for the release of the budget and it will be in the Gazette soon.  I am blown away from the information out of Iraq today.

MZ: I’m still hearing positive stuff on bonds….hearing some are being paid on bonds….but am trying to find somebody I know personally – in real life to tell me it’s a go.

Member: Mike Bara and Jen are talking about the RV mid week.

Member: Lots happening this week…..it’s exciting.

Member: MODS, and wonderful Z Patriots. We are one day closer to our RV blessings. Be of good cheer, the Lord is with us and will get us to the finish line soon.

Member: Thanks everyone…..fingers crossed and prayers going up for that Iraq news to be real!!

CBD Gurus Join the stream tonight. Please listen to the replay for their information.

​​“THE CONTENT IN THIS PODCAST IS FOR GENERAL& EDUCATIONAL PURPOSES & 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

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.

​TO GET THE “REAL MARKZ ACCOUNTS”, TWITTER, YT, RUMBLE, TELEGRAM ROOMS, AND FOR MARK’S DAILY LINKS TO HIS WEBSITE: https://theoriginalmarkz.com

STAY IN THE KNOW: FOR UPDATES ON PODCASTS (CHANGES & GUESTS). YOU WILL FIND PLENTY OF USEFUL INFO THAT KOUKLA UPDATES OFTEN FOR MARK AT THE TELEGRAM INTEL CHANNEL: https://t.me/+K_GNVfTI0gFkZWYx

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

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

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

ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

https://www.youtube.com/watch?v=K98S76SwsDk

More News, Rumors and Opinions Monday PM 7-15-2024

KTFA:

Clare:  Urgent... Al-Sudani directs to suspend work next Wednesday on the occasion of Ashura

7/15/2024

Prime Minister Mohammed Shia Al-Sudani directed the suspension of official work on Wednesday, July 17, 2024, in all ministries and government institutions, coinciding with the tenth of Muharram, the martyrdom of Imam Hussein, peace be upon him, on the day of Ashura.

The General Secretariat of the Council of Ministers said, a copy of which was received by {Euphrates News}, that the holiday came "based on the provisions of Article (1/First/C) of the Official Holidays Law (12 of 2024)."

The statement indicated that "the directive came during the Cabinet meeting in its twenty-ninth regular session, held on 4/14/2024."  LINK

Clare: Harmonizing Iraq’s trade regime: A 20-year milestone achieved

11 July 2024  ITC News

Iraq accelerates its World Trade Organization (WTO) accession process by unifying tariff rates with Kurdistan region of Iraq.

For the past 20 years, Iraq’s trade has operated under a dual customs regime, with different tariff rates in Federal Iraq and Kurdistan Region of Iraq (KRI). This dual system has led to varying administrative and economic customs policies, creating complications for trade, and challenges in the way of ensuring a transparent and predictable business environment.

The process of Iraq’s journey to join the WTO, began in 2004 and recently gained new momentum. A key requirement for WTO membership is the implementation of consistent policies nationwide, including aligning tariff rates, customs procedures, and regulatory practices across all regions. The differences in tariff structures between Federal Iraq and the KRI have been seen as a barrier to achieving the necessary coherence and transparency for WTO accession.

Recognising this, Iraq decided to harmonise the two customs regimes in 2019. However, the implementation was delayed for several years. In 2024, with the support of the International Trade Centre (ITC) through the “Strengthening the Agriculture and Agri-Food Value Chain and Improving Trade Policy (SAAVI)” project funded by the European Union, this harmonisation was finally undertaken.

As the first step, the tariff regime in Federal Iraq was updated to comply with the World Customs Organization’s Harmonised System Code of 2017. The process then extended to KRI, involving detailed reviews and multiple joint workshops, with customs offices from Baghdad, Erbil and ITC experts.

Together, they examined over 15,000 tariff lines to ensure compliance with international standards and to create a unified structure. The unified tariff framework was formally approved by the Ministry of Finance and published in the Official Iraqi Gazette on 5th February 2024 (No. 4758).

Acknowledging the efforts, Mr. Hakkam Anttar, Senior Manager, Customs Valuation Office, General Commission of Customs, said: “The ITC through the SAAVI Project,  in coordination with The Ministry of Trade has been providing expert technical support since the very beginning, in expediting the process of modernising and unifying Iraq’s Tariff structure based on 2017 Harmonized System. ITC, has played a vital role in developing an action plan with concepts and requirements.”

Resolving the dual customs regime issue marks a significant milestone in Iraq’s WTO accession process and underscores Iraq’s commitment to the multilateral trading system.

This achievement is part of a series of interventions undertaken by ITC to support the Government of Iraq, including substantial revisions to domestic reforms, alongside widespread capacity building and awareness-raising on WTO and trade policy.

About SAAVI:  The “Strengthening the Agriculture and Agri-Food Value Chain and Improving Trade Policy’ (SAAVI) project, funded by the European Union, focuses on the development and implementation of sector strategies for high-potential products, as well as on defining market-oriented policies to improve predictability and efficiency in the business environment. SAAVI also helps enhance Iraq’s trade policy and supports the country in its WTO accession process.LINK

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

Pimpy  Article: "The stability of the exchange rate of the dinar against the dollar is real and firm" This is one of those big steps we have been looking forward to, which is stability of the currency.   We've talked about these a billion times - the country...government...economy and currency has to be stable.  Outside of a little back and forth with the government they seem to be doing pretty good everywhere else.  Good job Iraq.  They are now at a place in their country where the parallel market is not affecting the overall prices of their goods and services.

Militia Man  Ceasing the dollar auctions as we know it.  Tomorrow [Monday] is supposed to be the first day they're going to have a new mechanism for using the dollar and selling that dollar.  People are going to have to play by the rules and be part of that FITR platform.  We have to go from there to see...

"You're Going To See Something More Devastating Than 2000 or 2008" –

Mike Maloney: 7-12-2024

In this eye-opening video, Mike Maloney explores the troubling signs pointing towards an impending financial crisis that could surpass the devastations of 2000 and 2008.

 As the US national debt races towards $35 trillion, he shows the convergence of alarming economic factors.

Learn how deficit spending, rising consumer debt, and skyrocketing inflation are shaping a perilous economic landscape. He also analyzes key indicators like trucking employment and real estate bubbles that signal an imminent recession.

Discover why this could be far worse than the Great Depression and what it means for your financial future.

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

We Have The Data Now: MASSIVE Recession Has JUST Been Confirmed

Atlantis Report:  7-15-2024

Over the past few months, economic analysts and experts have been sounding the alarm about a recession. There have been increasing concerns about economic instability, with these worries echoing in financial markets and boardrooms nationwide.

Now, a surge of data has confirmed what many have feared: the United States is on the verge of a recession. The state of retail sales has always been an indicator of economic well-being, and the most recent figures are concerning.

Retail sales in May were notably poor, worsened by significant downward adjustments to previous months' figures. This trend suggests that American consumers are facing significant challenges.

 Large retailers such as Target, Kohl's, and McDonald's have all warned that there has been a notable shift in consumer behavior. These warnings are not just based on personal accounts; they are backed by solid data.

https://www.youtube.com/watch?v=eOghhF5nfb8

Iraq Economic News and Points To Ponder Monday Afternoon 7-15-24

Iraq Resumes Negotiations To Join WTO

WTO  Money  and business  Economy News – Baghdad  Minister of Trade and head of the Iraqi team concerned with joining the World Trade Organization, Athir Dawood Al-Ghariri, announced on Monday the resumption of negotiations to join the World Trade Organization, after a hiatus that lasted more than 16 years.

A statement by the ministry, seen by "Al-Eqtisad News", quoted the Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, as saying that "the Iraqi negotiating teams have begun their preparatory meetings at the headquarters of the World Trade Organization in Geneva, in preparation for the third meeting of the working group on Iraq's accession." Al-

Hashemi added that "the first preparatory meeting was held at the organization's headquarters with the Director of the Accession Department and the organization's experts in goods, services and intellectual property, headed by the Director General of the Department of Economic Relations and the membership of negotiators representing the Iraqi ministries and the Kurdistan Region; to discuss the most important files and documents submitted by Iraq in the previous stage."

He pointed out that "the third official meeting of the working group, which will be headed by the Minister of Trade representing Iraq, will witness a review of the files and documents completed by the National Committee concerned with accession."

He continued, "This is the first time that the Iraqi negotiating team has reached this level of experience in the field of negotiation, which reflects the development of their capabilities and efficiency in dealing with complex issues related to WTO membership."

Views 66  Added 2024/07/15 - https://economy-news.net/content.php?id=45272

Global Oil Prices Decline

Economy |  07/15/2024  Follow-up - Mawazine News    Oil prices fell for a second day in a row on Monday, as the dollar rose amid political uncertainty in the United States following an attack on US presidential candidate Donald Trump, while investors monitored the progress of talks on a ceasefire in Gaza.

Brent crude futures fell 55 cents, or 0.7 percent, to $84.48 a barrel by 01:09 GMT, after closing down 37 cents on Friday.  US West Texas Intermediate crude fell 56 cents, or 0.7 percent, to $81.65 a barrel.

US stocks rose on Monday, while US bond futures fell, as investors bet that the attack on Trump would make his victory in the upcoming presidential election more likely.

In the Middle East, talks to end the conflict in Gaza between Israel and Hamas stalled on Saturday after three days, and uncertainty surrounding the volatile situation kept the geopolitical value of oil high.

https://www.mawazin.net/Details.aspx?jimare=251333

Iraq Advances One Place In The World's Gold ReservesMarket  Economy News – Baghdad  The World Gold Council announced today, Monday, that Iraq has advanced one place in the list of countries with the largest reserves of the precious metal in the world.

According to the latest table published by the Council in July, which was reviewed by Al-Eqtisad News, it advanced to 30th place out of 100 countries listed in the table with the largest gold reserves, after it was ranked 31st globally, and fourth in the Arab world after Saudi Arabia, Lebanon and Libya.

According to the table, Iraq maintained its gold holdings unchanged, reaching 1,457 tons, which represents 10% of its other reserves.

The Council pointed out that "the United States of America tops the list of countries with the largest gold holdings in the world, with 8,133.5 thousand tons, followed by Germany with 3,351.5 thousand tons, then Italy with 2,814 thousand tons, while Suriname came in last with 1.2 thousand tons."

The World Gold Council is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.

124 views  2024/07/15 - https://economy-news.net/content.php?id=45255

Central Bank Of Iraq Sells $270 Million In Auction Today

Time: 2024/07/15 15:42:39 Reading: 598 times

{Economic: Al Furat News} The Central Bank of Iraq’s dollar sales on Monday amounted to more than 270 million in a currency auction.

The bank sold in its auction today 270 million, 626 thousand and 37 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, and at the same price per dollar for foreign transfers, and at a price of 1305 dinars per dollar in cash.

Most of the dollar sales went to boost balances abroad in the form of transfers and credits, which amounted to $252 million, 324 thousand and 37, an increase of 93% over cash sales of $18 million, 302 thousand.

The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 14 banks, and the total number of exchange and brokerage companies participating in the auction was 6 companies.   LINK

Stock Market Index Down 0.4%

  Market  Economy News – Baghdad  The stock market index fell by 0.4% on Monday.

The number of traded shares reached 746.1 million shares, with a value of 809.1 million dinars.

During the session, 577 transactions were executed on the shares of 30 companies.

The shares of 5 companies also rose, including United Bank and Agricultural Products.

107 views  Added 2024/07/15 - https://economy-news.net/content.php?id=45256

Dollar Closes Lower In Baghdad

Economy | 05:25 - 07/15/2024  Baghdad – Mawazine News  The US dollar prices fell against the Iraqi dinar, today, Monday, in Baghdad markets with the closing of the stock exchange.

Our correspondent said that the dollar prices fell with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 148,900 dinars for $100, while this morning it recorded 149,150 dinars for $100.

He pointed out that the selling prices in exchange shops in local markets in Baghdad fell to 149,750 dinars for $100, while the purchase price reached 147,750 dinars for $100. https://www.mawazin.net/Details.aspx?jimare=251366

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

2 Options You Have When Your Bank Starts Charging You for a Checking Account

2 Options You Have When Your Bank Starts Charging You for a Checking Account

Gina Hagler  Sun, July 14, 2024  GoBankingRates

Most of us are used to our checking accounts being free to own and operate; we expect to pay fees only for specific transactions like late payments to credit cards or for overdrafts.

These fees can add up, with charges piling on top of charges for a single transaction. Should new banking rules become the standard going forward, however, there would be an upper limit on how much banks can charge for certain fees. Specifically, the Consumer Financial Protection Bureau (CFPB) seeks to prevent banks from being able to charge more than $8 for late credit card payments and $3 for overdrafts, as explained by Payments Dive.

According to Wall Street Journal, JPMorgan Chase — the largest consumer bank in the country — plans are underway to circumvent the regulation by instituting more consumer charges for owning a checking account or using wealth-management tools. Currently, most bank maintenance fees are avoided by having a balance above a threshold. But this could turn into a fee regardless of your balance.

 It won’t necessarily end there: reportedly, they are also considering increasing their interest rates and enacting a stricter policy on credit card loans. With this news in mind, here are your options should your bank start charging for a checking account.

Switch Your Account Type

You may have luck getting in contact with your bank supervisors and requesting to switch your account to avoid such fees. Certain individuals, like senior citizens or students, are often able to have monthly service fees waived— some banks will even offer various paid services for free, as explained by Forbes.

There are checking accounts specifically designed for seniors that are unavailable to others. If you don’t want to switch your account entirely, you may be able to qualify for a waiver within your existing account after passing the age threshold.

 Forbes also notes that the banks may introduce other fees in exchange for those waived. One possibility is overdraft fees which, if the CFPB is successful and the bank remains user-friendly, would be minimal.

To Read More:  https://www.yahoo.com/news/finance/news/2-options-bank-starts-charging-130112635.html

“Endgame GCR” Podcast with Awake-In-3D and Marie G: Episode 1

“Endgame GCR” Podcast with Awake-In-3D and Marie G: Episode 1

On July 13, 2024 By Awake-In-3D

A Complete overview of the systems, components and triggers for the RV/GCR are discussed in detail in this episode of Endgame GCR

The “Endgame GCR” podcast, hosted by Awake In 3D and Marie G, is a series dedicated to exploring topics related to the global currency reset (GCR) and currency revaluation (RV).

The show aims to cover a wide range of subjects, from the infrastructure of the GCR financial system to potential trigger events such as the introduction of a new BRICS common trade currency.

The main goal of the “Endgame GCR” podcast is to combine traditional financial insights with modern FinTech developments, helping listeners understand the practical implications of GCR-related changes on their daily lives.

Each episode will focus on specific topics, with the hosts striving to present balanced and practical insights.

Key Points Discussed in this Episode of Endgame GCR

1. Introduction to the Alternative Financial System: The discussion begins with an explanation of the alternative financial system, emphasizing its gold component and decentralized finance (DeFi) base. This system incorporates blockchain, smart contracts, and transparency.

2. Role of DeFi and Distinction from CBDC: DeFi allows everyday people and businesses to operate in a free market without central banking constraints, unlike CBDCs controlled by central banks. The global nature of DeFi means it operates beyond jurisdictional limits.

3. Characteristics and Advantages of the Alternative System: The alternative system operates outside the fiat currency debt system, utilizing advanced technology. Its attractiveness lies in its efficiency, low cost, and ability to perform direct peer-to-peer transactions without intermediaries like banks.

4. BRICS Alliance and New Financial System: The BRICS Alliance is developing a new financial system, including a common trade currency called the unit (UNT). This system is designed to be open and not controlled by any single country, ensuring fairness and equality in global trade.

5. Details and Structure of the Unit (UNT): The unit (UNT) is 40% gold-backed and 60% backed by a basket of currencies from participating countries. This structure aims to provide stability and intrinsic value, reducing the risk of currency manipulation.

6. Impact on the US Dollar and Fiat System: The launch of the UNT and the new financial system will likely lead to a decreased reliance on the US dollar, accelerating its devaluation. The transition will be gradual, with potential bugs to work out, and will pressure the G7 countries to adapt.

7. Potential Responses from the US and Europe: The US is expected to resist joining the BRICS system, while Europe is more prepared for a transition to a gold-backed system. European countries have significant gold reserves and are better positioned for the shift.

8. Preparation in Europe: Several European countries have been preparing for a gold-backed currency for years, with strategic reserves relative to their GDP. This readiness contrasts with the US’s slower progress.

9. Political Challenges in the US: The US faces political gridlock that could delay its adaptation to new financial systems. This inefficiency contrasts with Europe’s more proactive measures.

10. Conclusion on the GCR and RV Opportunity: Both hosts believe in the GCR and RV opportunities and aim to provide clear, practical insights. They emphasize the necessity of global systems, legal frameworks, and a gradual transition to support these changes.

11.  The podcast is designed to provide listeners with deep dives into various aspects of the GCR and RV, offering different perspectives to help form comprehensive and informed opinions.

About the Hosts

Marie G joined the GCR community in 2021. Initially focusing on digital assets and FinTech, she owns and operates a Telegram site called GCR True News, covering financial changes, gold and silver markets, and global banking regulations.

Awake In 3D is the founder and owner of GCR Realtime News on Telegram, X/Twitter, and ai3d.blog. With involvement in GCR-related activities since 2010, Awake In 3D brings a macro perspective shaped by experiencing various financial events and crises over the decades.

Awake In 3D offers a broad view informed by extensive research and knowledge of traditional financial markets, while Marie G provides comprehensive insights from the FinTech and digital asset industry, focusing on their impact on everyday people.

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews
Follow me on Twitter: @Real_AwakeIn3D

https://ai3d.blog/endgame-gcr-podcast-with-awake-in-3d-and-marie-g-episode-1/

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Endgame GCR Podcast: Episode 01

Awake In 3D and Marie G. discuss the systems, components and triggers for a Global Currency Reset (RV/GCR) and the collapse of the current financial system.

https://rumble.com/v56re7p-endgame-gcr-podcast-episode-01.html?mref=3rzr0s&mc=61ib6