Egon von Greyerz: Catastrophic Economic Collapse & The Next Great Depression Looming

Egon von Greyerz: Catastrophic Economic Collapse & The Next Great Depression Looming

Good as Gold Australia:  7-27-2024

In this most recent interview, Darryl and Brian Panes from As Good As Gold Australia talk with the legendary, Egon von Greyerz, Founder and General Manager of Gold Switzerland and Von Greyerz AG.

The world is currently very precariously placed with global debt ($350 trillion) at unprecedented levels, unmanageable inflation and sitting on the edge of WWII.

346 corporate business bankruptcies were recorded in the first half of 2024 in the US (the most during any year's first half since 2010). Could we be heading into the 2nd Great Depression?

 During the first half of 2024, gold has recorded a 19% gain and the World Gold Council survey confirms that Central Bank Reserve managers plan to increase their gold holdings further, building on their status of being the primary price setters of gold bullion since the 3rd quarter of 2022.

Central Banks are now confirming that they are viewing gold as a strategic asset.

 In 2019, only 15% of Central Banks considered their gold reserves a strategic asset. By the 2024 survey, this number had risen to 71%. Both advanced and EMDE economies face growing concerns about managing their reserve assets, including geo-political uncertainty, financial stability, default risk, long-term store of value, portfolio diversification performance during times of crisis and liquidity.

If Central Banks feel so strongly about gold, why wouldn't we? As the late Jim Sinclair would confirm, 'you need to become your own central bank.' If the BIS (Bank of International Settlements) is suggesting that Central Banks should own more gold, which they claim is a strategic Tier 1 asset, should we question their motive, especially when you read their charter and statutes?

This is a must-view, absorbing interview.

https://www.youtube.com/watch?v=MHWUOU75BJo

MilitiaMan: Iraq Dinar News - IQD Update - US FED - Can not Wait for Ever, Iraq! - Fed Measures Occur at Anytime

Iraq Dinar News - IQD Update - US FED - Can not Wait for Ever, Iraq! - Fed Measures Occur at Anytime

MilitiaMan and Crew: 7-27-2024

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=DhD2ZsArALI

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 7-27-24

Good Afternoon Dinar Recaps,

Cardano Launches Node 9.1.0: The Dawn of the Chang Hard Fork Era

▪️ Cardano’s Node 9.1.0 launch is pivotal for the Chang Hard Fork, marking significant progress in on-chain decision-making.

▪️ While ADA’s price hasn’t surged yet, the upgrade holds potential for a future rally similar to the Alonzo Hard Fork.

Following the innovative launch of Cardano Ogmios v6.4.0, we reported last month, Cardano has launched Node 9.1.0, which is crucial for the upcoming Chang Hard Fork upgrade. This node introduces the final version needed to implement on-chain decision-making within the Cardano ecosystem. The Dawn of the Chang Hard Fork Era is equipped with a crucial feature, the Conway genesis file, which differentiates it from the previous Node 9.0.0.

This launch was announced by Intersect on X and confirmed by Cardano founder Charles Hoskinson on his personal X account. The Chang Hard Fork upgrade, initially scheduled for the first half of 2024, is expected to significantly advance Cardano’s infrastructure and capabilities.

From Intersect on Twitter
Node 9.1.0 is here!

The final version to bring on-chain decision making to Cardano is here. As with all hard-forks, Cardano upgrades when the community is ready.

SPO's ➡️ https://bit.ly/3ycXnVF

However, unlike the previous update, as discussed in the CNF earlier report, which drove ADA price up 10% as 159 projects launched on Cardano, accompanied by 9.62M native tokens and 84.2M transactions, this upgrade is still taking its time to hit the expected surge.

Previous upgrades like the Alonzo Hard Fork in 2021 had a substantial positive impact on ADA’s price, suggesting potential similar outcomes with the Chang Hard Fork.

The upgrade could potentially lead to a price rally, as it is expected to break the upper boundary of the wedge pattern. As of now, according to CoinMarketCap data today, Cardano (ADA) is trading at $0.3966, with a decrease of 2.47% in the past day and 5.75% in the past week. See ADA price chart below.

However, unlike the previous update, as discussed in the CNF earlier report, which drove ADA price up 10% as 159 projects launched on Cardano, accompanied by 9.62M native tokens and 84.2M transactions, this upgrade is still taking its time to hit the expected surge. 

Previous upgrades like the Alonzo Hard Fork in 2021 had a substantial positive impact on ADA’s price, suggesting potential similar outcomes with the Chang Hard Fork.

The upgrade could potentially lead to a price rally, as it is expected to break the upper boundary of the wedge pattern. As of now, according to CoinMarketCap data today, Cardano (ADA) is trading at $0.3966, with a decrease of 2.47% in the past day and 5.75% in the past week.  

UPDATE:  Cardano is trading at $0.4232 today.

@ Newshounds News™

Read more:  Crypto News Flash

~~~~~~~~~

Copper will be the investment of the decade? Kitco Live ‘Copper Masters Panel’ on August 22, 2024

(Kitco News) - Copper presents a generational investment opportunity. A looming supply crunch fueled by high demand required for the energy transition is elevating prices to record highs with a positive outlook for investors.

The copper market is expected to enter into deficit in the near-term, which is forecast to increase to 5-8Mtpa by the end of the decade as new demand gathers pace. Eergy transition applications and the power infrastructure required for the electrification of everything, data centers, and emerging markets such as India are all factors vying for dwindling copper supplies.

The positive market outlook has not garnered a corresponding supply response as few development projects are in the pipeline, and miners are risk-averse due to the increasing economic uncertainty, costs, and timescales of project development.

Hosted by Paul Harris, the ‘Kitco Copper Masters Panel’ will hear from industry leaders Robert Friedland, Kathleen Quirk, and Colin Hamilton discussing why copper may be the natural resources investment of the decade. 

Join us live on Kitco Mining’s YouTube channel on Thursday, August 22, 2024, at 3PM ET / 12PM PST for the latest copper investment insights from these copper masters.

@ Newshounds News™

Read more:  Kitco 

~~~~~~~~~

Chinese Firm Boasts of Using Tether Stablecoin to Skirt Russian Sanctions

Chinese-owned import-export firm Qifa specializes in trade between China and Russia, a booming sector. According to Reuters, the company is now using the Tether stablecoin for cross-border payments because of sanctions affecting bank payments.

It’s possible that Qifa spoke to Reuters to boost the price of its IPO on the Moscow Exchange. However, that benefit could prove short lived. Several Russian companies featured in recent press reports have been the subject of sanctions shortly afterwards.

For instance, Reuters reported in April that the Shanghai branch of Russian bank VTB played a key role in facilitating money transfers between Russia and China. In the latest package of sanctions announced on 12 June, OFAC added VTB Shanghai to its sanction list. Within a week this caused problems with money reaching Chinese suppliers.

The reason for using VTB Shanghai is the threat of sanctions on Chinese banks. Hence, any Chinese banks willing to receive payments are smaller ones, and they conduct significant due diligence to ensure that any goods are not dual use for military purposes.

Meanwhile, the use of Tether as a settlement asset may be illegal in both countries. Reuters classed Tether as a Digital Financial Asset. That’s not the case.

Digital Financial Assets
Digital Financial Assets (DFAs) are a specific class of Russian digital assets, including tokenized gold, other commodities and factored invoices. 

There’s a short list of firms that operate platforms approved to issue DFA tokens, and most of them have been sanctioned. Not only does Tether not run an approved DFA issuing platform, but stablecoins are not approved DFA assets.

Originally Russian legislation banned the use of DFAs for payment, but it recently passed a new law allowing them to be used for cross-border payments, precisely to skirt sanctions. Less than two weeks later more DFA issuers were sanctioned alongside some Russian cryptocurrency firms.

That means only those comfortable dealing with sanctioned entities would accept them. There are also practical hurdles we have previously explored.

Tether would be classed as a cryptocurrency rather than a DFA.

Russia is working on legislation to support the use of cryptocurrencies for cross-border payments. Even the central bank governor has agreed it’s a practical move, despite her misgivings about crypto. As of today, using Tether may not be legal in Russia, but the Russians would most likely turn a blind eye.

It’s far less clear that’s the case in China where the use of stablecoins such as Tether is not permitted.

@ Newshounds News™

Read More:  Ledger Insights  

~~~~~~~~~

BLOCKCHAIN and DIGITAL ASSET NEWS  from Ledger Insights

▪️ LUXEMBOURG proposes relaxing DLT laws LINK 

▪️ BNP Paribas hosts issuance of SLOVENIAs digital bond settled in CBDC LINK 

▪️ JP Morgan-backed Ownera partners with Digital Asset’s Canton network LINK 

▪️ Franklin Templeton planning digital-asset joint venture with JAPANs SBI LINK 

@ Newshounds News™

~~~~~~~~~

Newshound's Daily Breakdown Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

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Do I Have to Worry About Gift Tax?

If I Give My Child $30,000 Towards Their Wedding, Do I Have to Worry About Gift Tax?

Mark Henricks  Sat, July 27, 2024   SmartAsset

Imagine your child is getting married and you want to help pay for their wedding. You’ve been saving for years and now have $30,000 set aside for their big day, which you plan to hand over in the form of a check.

However, before you pass along that much cash, it’s important to understand the potential tax implications of making a $30,000 gift. A gift that size could require you to pay the federal gift tax, which can reach up to 40%. The good news is you may avoid paying gift taxes altogether, but there are reporting requirements and other limitations to keep in mind. Consult a financial advisor to minimize your gift tax obligations.

Federal Gift Tax at a Glance

The federal gift tax applies when you transfer money or property to someone else without receiving something of equal value in return. Gift tax rates range from 18% to 40% based on the size of the gift.

However, not all gifts trigger this federal tax. The IRS allows you to give away up to $17,000 ($34,000 for married couples) per year to each individual without owing any taxes on the gift. This is called the annual exclusion, and in 2024 it will increase to $18,000 per person.

However, gifts that exceed this annual exclusion aren’t necessarily taxed either. Instead, they reduce the amount of money or property you can give away tax-free over the course of your lifetime. This lifetime limit is known as the basic exclusion amount or lifetime exemption and it’s adjusted each year for inflation.

The gift tax only applies when you exhaust your lifetime exemption. In 2023, a person can give away up to $12.92 million over the course of their lifetime without triggering the gift tax (this will increase to $13.61 million in 2024). For example, if someone were to give away $13 million, they would pay gift taxes on only $80,000. And if you need additional help planning for major gifts, consider matching with a financial advisor.

How the Gift Tax Could Affect a $30,000 Wedding Gift

If you want to give a child $30,000 to help pay for a wedding, there are a few different ways it could be structured.

As a gift solely from you to your child, a $30,000 wedding gift would avoid most tax liability on its own. The gift only exceeds the $17,000 annual exclusion for 2023 by $13,000, so that’s all that could potentially be taxable if you’re single.

If this is your first time exceeding the annual exclusion, there’s more good news. In that case, the $13,000 excess would simply reduce your $12.92 million lifetime exclusion by that amount. You would not actually have to pay any gift tax unless you exceed your remaining lifetime exclusion, though you still have to fill out Form 709.

Alternatively, you could gift both your child and their future spouse $15,000 each and avoid the annual exclusion threshold (remember, you can gift up to the annual exclusion amount per year per person).

To make sure you structure your gifts in your best interest, talk it over with a financial advisor.

How to Avoid Gift Tax on a $30,000 Wedding Gift

TO READ MORE:

https://www.yahoo.com/finance/news/worry-gift-tax-pay-30-122213443.html

Breaking Down the New BRICS Gold-backed Currency System in Detail

Breaking Down the New BRICS Gold-backed Currency System in Detail

On July 26, 2024 By Awake-In-3D

Learn about the construction, mechanics, benefits and real-world usage of this groundbreaking digital currency.

This is Part 2 of my article series exploring why the BRICS Gold-backed currency system is an inspiring model for our Global Currency Reset and Currency Revaluations (RV/GCR).

You can find Part 1 here: The BRICS UNIT: The Catalyst for a Revolutionary Global Currency Reset

It lays the foundation for the global adoption of gold and real assets to back sovereign currencies. The BRICS UNIT System’s greatest strength is its inclusiveness.

It’s not a closed, exclusive financial system meant only for BRICS Member Nations; it’s open to any country, BRICS Alliance Member or not. It even accommodates nations that continue to use a pure fiat currency system.

This flexibility to create exchange rate pairs between UNIT and fiat currencies opens exciting opportunities for our RV Currency Exchange.

In This Article

• The Construction of the BRICS UNIT

• Operational Mechanics of the UNIT

• Who Will Use the UNIT

• Real-World Applications of the UNIT

• Benefits for International Business and Trade

• Key Dates in the UNIT Rollout

The BRICS nations are on the brink of a financial revolution with the introduction of the UNIT, a gold-backed digital currency set to transform global transactions.

This comprehensive guide breaks down how the UNIT is built, its operational mechanics, user base, practical applications, benefits, and key milestones in its rollout.

The Construction of the BRICS UNIT

The UNIT is being intricately crafted as a gold-anchored, blockchain-enabled digital asset. Each UNIT is minted when participants deposit a mix of gold and BRICS currencies at designated blockchain nodes, ensuring intrinsic value.

This innovative design blends the stability of gold with the transparency and security of blockchain technology.

Legally anchored in the Budapest Convention, the UNIT ecosystem promises robust international legitimacy.

Drawing on advanced crypto-blockchain concepts from platforms like Ethereum and Bitcoin, the UNIT stands out with its unique focus on tangible value and economic stability.

Operational Mechanics of the UNIT

At the heart of the UNIT is a decentralized blockchain system that guarantees security and transparency. Nodes within this system independently mint UNITs by receiving deposits of gold and BRICS currencies, adhering to a standardized rule book to maintain integrity and trust.

Transaction costs within the UNIT ecosystem are expected to be significantly lower than those of traditional banking systems. This cost-efficiency, combined with the inherent stability of a gold-backed asset, positions the UNIT as a superior alternative for global transactions.

Who Will Use the UNIT

The UNIT is designed for a diverse user base, encompassing nations, businesses, and consumers. BRICS countries can utilize the UNIT for international trade, minimizing reliance on traditional fiat currencies and fostering economic cooperation.

Businesses, especially those engaged in cross-border commerce, will benefit from reduced fees and heightened security.

Consumers will also see value in using the UNIT for purchasing goods and services worldwide. The currency’s stability, underpinned by gold, offers a reliable and secure option compared to more volatile cryptocurrencies.

Real-World Applications of the UNIT

In practical terms, the UNIT is set to revolutionize international trade and finance. BRICS nations can leverage the UNIT to conduct bilateral trade, significantly lowering transaction costs and enhancing economic partnerships.

ALSO READ: GCR Progress: Russia and Iran Planning Joint Gold-Backed Currency

Businesses can streamline their global transactions by using UNITs, circumventing traditional banking systems and avoiding cumbersome currency conversion fees.

For consumers, the UNIT provides a stable and cost-effective means to buy goods and services from international merchants, making global commerce more accessible and affordable.

Benefits for International Business and Trade

The UNIT offers substantial advantages for international business and trade. Its gold-backed nature ensures stability, mitigating risks associated with currency volatility.

The decentralized structure of the UNIT ecosystem promotes fairness and transparency, as no single country or central bank can exert control over the currency.

Participating countries enjoy monetary policy independence within the UNIT framework, allowing them to pursue their own economic agendas without the constraints of pegging their currencies.

This flexibility is particularly advantageous for countries with non-convertible currencies, enabling them to engage more freely in international trade.

Key Dates in the UNIT Rollout

The journey to launching the UNIT is marked by several pivotal dates:

• August 2023: BRICS summit in Johannesburg where finance ministers were tasked with developing the UNIT.

• June 2024: BRICS foreign ministers emphasized enhancing the use of local currencies, supporting the UNIT initiative.

• September 2024: Special meeting of the New Development Bank (NDB) in Shanghai to evaluate the UNIT proposal.

• October 22-24, 2024: BRICS leaders’ summit in Kazan, Russia, where final reports and decisions on the UNIT will be presented.

The Bottom Line

The BRICS UNIT represents a groundbreaking step forward in the evolution of digital currencies.

Combining the security of blockchain technology with the stability of gold, the UNIT is poised to become a powerful tool for international business and trade.

As we approach key milestones in its development, the global financial landscape is set for a transformative shift, promising exciting possibilities for fair, non-manipulated, and stable economies worldwide.

ALSO READ: Ready for Fiat System Collapse: Dutch Central Bank Admits Gold-Backed Currency Plan

Contributing Sources:

• https://m.canadianinsider.com/blog/will-brics-countries-come-together-one-unit-why-gold-and-gold-miners-may-win-multi-nodal-world#

• https://www.inkresearch.com/prelog/index.php

© GCR Real-Time News

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/breaking-down-the-new-brics-gold-backed-currency-system-in-detail/

How Zimbabwe is Leading Africa into a Gold-Backed Currency Reset

How Zimbabwe is Leading Africa into a Gold-Backed Currency Reset

On July 26, 2024 By Awake-In-3D

Zimbabwe’s now-official ZWG (aka the ZiG) currency is setting a new standard for stability and exchange rate value.

As African nations increasingly turn to gold to hedge against economic instability, Zimbabwe is leading the continent into a gold-backed currency future.

The Reserve Bank of Zimbabwe (RBZ) recently announced the certification of the Zimbabwe Gold (ZiG) with an international currency code (ZWG) by the World Bank, giving it a distinct identity among other nations’ official currencies.

The ZiG is a revolutionary currency backed by precious metals, mainly gold, and foreign currency with a cumulative value of about US$300 million.

ONE ZiG (ZWG) IS WORTH $13.44 USD TODAY!

Currently, there are ZiG1, ZiG2, ZiG5, ZiG10, and ZiG20 notes in circulation, with plans to introduce ZiG50, ZiG100, and ZiG200 notes in the near future. Minor units of the ZiG are known as cents, reflecting a familiar structure for ease of transactions.

Since its introduction at a rate of ZiG13.66 to the US dollar, the currency has shown remarkable stability, currently trading at ZiG13.44. There are about US$80 million worth of ZiG in circulation.

This stability is a stark contrast to the volatility that plagued previous iterations of the Zimbabwean dollar for the past several decades.

In This Article

1. Zimbabwe’s Gold-Backed Currency Initiative

2. Other African Nations Following Suit

3. Economic Implications for the Continent

4. The IMF’s Positive Perspective on Gold-Backed Currencies

Zimbabwe has emerged as a pioneer in a significant shift towards gold-backed currencies across the African continent.

As economic instability and currency depreciation arise, African nations increasingly look to gold to safeguard their financial futures.

Zimbabwe’s Gold-Backed Currency Initiative

Zimbabwe’s introduction of the Zimbabwe Gold (ZiG) currency marks a groundbreaking move in Africa’s economic landscape.

The new currency, backed primarily by gold and other forex reserves, replaces the beleaguered Zimbabwean dollar. Since its launch in April, the ZiG has aimed to stabilize the nation’s economy and restore confidence in its financial system.

David Mnangagwa, Zimbabwe’s Deputy Minister of Finance, Economic Development, and Investment Promotion, emphasized the importance of controlled money supply to maintain the currency’s value. This approach addresses past issues of hyperinflation and rapid devaluation.

ALSO READ: Zimbabwe’s New Gold-Backed ZiG Currency: A Record Financial Turnaround

The government’s strategy to “drip-feed” the ZWG into the market is designed to preserve the currency’s value, ensuring long-term stability and economic growth.

The International Monetary Fund (IMF) has also recognized the positive strides made by Zimbabwe. According to an IMF review, Zimbabwe’s economy is showing resilience, with growth expected to recover strongly in 2025.

The introduction of the ZiG has played a pivotal role in ending a period of macroeconomic instability, and the IMF commends Zimbabwe’s improved monetary policy discipline and efforts to stabilize the new currency.

Other African Nations Following Suit

Inspired by Zimbabwe’s initiative, several African countries are taking similar steps to secure their economic stability through gold-backed currencies.

Nigeria, Uganda, Tanzania, and Madagascar have all announced plans to bolster their gold reserves and, in some cases, back their currencies with gold.

Nigeria’s central bank has initiated a domestic gold-buying program and plans to repatriate its existing gold reserves. This move aims to mitigate risks associated with the weakening U.S. economy and the volatility of the U.S. dollar.

Similarly, Uganda and Tanzania have launched gold acquisition strategies to strengthen their financial reserves and reduce dependency on foreign currencies.

Tanzania announced a significant investment of $400 million to purchase six tons of gold, reflecting a strong commitment to securing its economic future.

ALSO READ: The Gold-backed Zimbabwe ZiG and Our RV/GCR – What You Need to Know

Uganda’s central bank introduced a domestic gold-buying program to purchase gold directly from local artisanal miners, aiming to address risks in the international financial markets.

Economic Implications for the African Continent

The shift towards gold-backed currencies represents a significant financial development for African economies.

By leveraging gold, countries aim to protect themselves against geopolitical risks and currency depreciation. This strategy also addresses the concerns over America’s economic policies and the potential weaponization of the U.S. dollar.

Analysts highlight that adding gold to national reserves allows countries to grow their reserve assets without sacrificing other hard-currency reserves. This approach is particularly pertinent for nations facing economic sanctions or anticipating a decline in the U.S. dollar’s value.

The strategic accumulation of gold reserves can bolster economic resilience and foster long-term stability across the continent.

The IMF’s Positive Perspective on Gold-Backed Currencies

The global financial community is closely monitoring Africa’s transition to gold-backed currencies.

Experts from institutions like the IMF recognize the potential benefits but also caution about the challenges. Sustained economic stability and disciplined monetary policies are crucial for the success of these initiatives.

The IMF’s positive assessment of Zimbabwe’s economic policies is a testament to the potential success of gold-backed currencies. The institution’s recommendations for further refinements to the policy framework highlight the importance of continuous improvement and adaptation. Zimbabwe’s pioneering move sets a precedent, encouraging other African nations to consider similar measures.

ALSO READ: Zimbabwe to Establish New Gold-Backed Currency Exchange Rate Value

The Bottom Line

Zimbabwe’s bold step towards a gold-backed currency is reshaping the financial landscape in Africa.

As more nations follow suit, the continent is positioning itself to mitigate economic risks and enhance financial stability. This trend underscores a broader move towards leveraging gold as a safeguard against global economic uncertainties, potentially setting a new standard for currency stability in the 21st century.

With the positive momentum from IMF reviews and the collective efforts of African nations, the future looks promising for a continent embracing economic resilience through gold.

Contributing Articles: 

• https://www.moneymetals.com/news/2024/07/25/african-countries-are-turning-to-gold-003338

• https://www.newsday.co.zw/business/article/200029032/minister-confirms-structure-to-drip-feed-zwg-into-economy

• https://www.imf.org/en/News/Articles/2024/06/27/pr-24248-zimbabwe-imf-staff-completes-2024-article-iv-mission

© GCR Real-Time News

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/how-zimbabwe-is-leading-africa-into-a-gold-backed-currency-reset/

7 Biggest Cash Withdrawal Mistakes

I’m a Bank Teller: 7 Biggest Cash Withdrawal Mistakes I See People Make Every Day

Madeline Duley  Fri, July 26, 2024  GOBankingRates

If you have a bank account, you’re likely familiar with the process of withdrawing cash, depositing checks and handling bills. While these might seem like basic tasks, there are a few common mistakes that are easy to make when carrying out these seemingly simple financial transactions.

Find out from a bank teller if you’re making these seven common cash withdrawal mistakes — and learn how to avoid them.

Getting Bills Too Large

Although efficient and compact, large bills aren’t as versatile as you might think.

“One mistake I often see is taking out large bills to spend at local businesses, because most won’t accept them because businesses are worried about fraudulent bills,” said Haley West, head teller at Kohler Credit Union.

The usability and convenience of smaller bills are well worth the annoyance of carrying around a thicker stack of cash.

Requesting Brand New Bills

There’s nothing more appealing than fresh, crisp bills, especially when you’re giving cash as a gift. However, requesting brand-new bills might have frustrating consequences.

“A mistake members make is requesting brand new bills as they are sticky and members tend to come back thinking that we shorted them or they gave too much when they purchased because the bills were stuck together,” West said.

Neglecting To Balance Accounts

Life gets busy and it can be hard to stay on top of account balances. An easy mistake to make is withdrawing cash from an account with inadequate funds.

“A staggering 19% of all payments in 2020 were cash transactions,” said Oliver Brifman, business insurance and financial services expert at eMerchant Authority. “Yet, many customers withdraw without checking their balance, leading to overdraft fees. Always check your balance before a withdrawal to avoid the plunge into overdraft territory.”

Rushing

When you are in a rush or distracted, it’s easy to make mistakes.

“Based on my time as a bank teller, I learned firsthand how easily little mistakes can happen with cash transactions if you’re not careful,” said Steven Kibbel, former bank teller and now a Certified Financial Planner and financial advisor at Prop Firm App. “When people are rushed or distracted, they often make the mistake of miscounting bills, mixing up denominations or neglecting to double-check important details on checks.”

Save yourself the headache later by double-checking your accounts, counting your cash and remembering to breathe.

Forgetting ID

Surprisingly, the most common mistake people make when withdrawing cash is a very simple one: forgetting their ID.

https://www.yahoo.com/finance/news/m-bank-teller-7-biggest-160040491.html

Iraq Economic News and Points To Ponder Saturday AM 7-27-24

The US Federal Reserve Adopts A New Strategy Towards Iraq.. The Dollar Is Threatened To Rise To Unprecedented Levels
 
Economy     2024-07-25 | 7,697 views  Alsumaria-special   Economic researcher Ziad Al-Hashemi revealed new information about the US Federal Reserve’s policy towards Iraq, anticipating a rise in the dollar against the dinar, which will generate great pressure on the Iraqi banking system.  Al-Hashemi told Al-Sumaria News,
 
“Some information from within the corridors of the Central Bank of Iraq indicates that the US Federal Reserve has adopted a strategy different from its previous strategies towards the Iraqi economy,” noting that  “this strategy will be more stringent and depend on three axes:

The first axis: The continuation of punishing the previous banks, and
 
there is no lifting of the sanctions against them, meaning that
 
these banks will continue to be prevented from trading in the dollar indefinitely.
 
The second axis: closing banks that continue to violate federal controls related to money laundering and dollar smuggling, and supporting sanctioned entities and countries.
 
The third axis: Preventing the Iraqi government from interfering in the dollar file, and that
 
this file be in the hands of the Central Bank of Iraq only.  He stressed that
 
"the last axis explains that the Federal Bank monitored the presence of political influences from the Iraqi government," pointing out that
 
"the Iraqi Central Bank today is in a very embarrassing situation and is almost in trouble through internal pressures on it to obtain a larger space for the dollar and its circulation."  He stressed,
 
"The Central Bank will only have the ability to delay and postpone federal procedures for the longest possible period of time, while achieving temporary protection for the Iraqi banking system and the Iraqi dinar."  He stated,
 
"The American Federal Reserve will not be able to wait forever, and
 
it is expected that there will be federal measures that may occur at any moment, and
 
there will be a sudden and large demand for the dollar, which will lead to a decrease in the value of the Iraqi dinar against the dollar, which will generate great pressure on the banking system." "The Iraqi economy, the Iraqi economy, and the formal political system."    
 
https://www.alsumaria.tv/news/economy/494898/الفدرالي-الأميركي-يتبنى-ستراتيجية-جديدة-تجاه-العراق-الدولار-مهدد-بالار   

Adviser To The Prime Minister: (Injaz Bonds) Encouraged Safe Investment Of Public Funds
 
Economy     Baghdad - IA - Nassar Al-Hajj   Thursday, Advisor to the Prime Minister Mazhar Muhammad Saleh identified the importance of Injaz bonds, while clarifying the nature of government borrowings. Saleh told the Iraqi News Agency (INA):

“The annual general budget usually hedges during implementation against some slowdown in cash flows for temporary and emergency reasons,” indicating that
 
“on this basis, the budget is hedged by resorting to short-term borrowing by issuing annual treasury transfers.”
 
With a specific interest rate, commercial banks invest their money mostly in holding these sovereign bonds to ensure the sustainability of cash flows to the general budget.  He added,
 
"Short-term government borrowings are called bridge loans and are practiced by the financial authorities in accordance with the budget law at all times and places," noting that
 
"the general budget policy today, in its investment aspect, is moving towards ensuring the availability of a stable financing lever that guarantees the continued implementation of the country's investment budget items from non stop".  Saleh continued,
 
 “The announced issuance of the (Injaz Bond) amounting to 1.5 trillion dinars  targets the public’s savings, 
especially those dormant balances that lie outside the banking system and outside the mechanisms of the national savings cycle, 
which is consistent with encouraging the virtue of the public’s safe investment of its cash balances and with high-guarantee and high-yield sovereign debt instruments.”
 
At the same time, it facilitates the trading of these financial instruments (the completion bond),
 
     buying and selling in the secondary financial markets, and
 
     provides the bond holder with the ability to convert the debt instrument (the completion bond) into cash at all times when needed, with ease and high guarantee.”    https://www.ina.iq/213372--.html   

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

News, Rumors and Opinions Saturday AM 7-27-2024

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 Sat. 27 July 2024

Compiled Sat. 27 July 2024 12:01 am EST by Judy Byington

Possible Timing:

Tues. 23 July 2024 The Re-inhabited Republic for These United States of America was funded out of funds of the Global Currency Reset.

Global Currency Reset:  Rumors/Opinions

Fri. 26 July 2024: Six planes (allegedly) loaded with owners of Trust Accounts took off from Washington DC on Thurs. headed to Reno Nevada. Another Trust Account Holder flew into Reno from Zurich.

Thurs. 25 July 2024 Wolverine: “The gates are (allegedly) opened! Certain platforms have been released, at least 4 to 5 of them in Brazil. Venezuela has released their own. Next week a (allegedly) huge platform will be released as well. Also hearing Asia to be released, now with liquid funds. Precatorious are pure liquid now and is releasing funds to the members. Bondholders are getting paid, and more people are getting notified.”

Thurs. 25 July 2024 Ginger’s Liberty Lounge: “A dear friend who is connected with plans in Zurich was just informed that they acquired a new Paymaster and to watch for their invitation email (for their group) later today.”

On Tues. 23 July 2024 the Re-inhabited Republic for These United States of America was(allegedly)  funded.

Fri. 26 July BRICS Officially Announces New Financial System: https://watcher.guru/news/brics-officially-announces-financial-system-similar-to-swift

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Global Financial Crisis:

FORD SHARES JUST HAD THE WORST DAY SINCE THE 2008/2009 FINANCIAL CRISIS CLOSING DOWN OVER 18%: https://x.com/gurgavin/status/1816567735738073218?s=46

BRICS Central Bank Hits 1Trillion in losses – what it means for the US Dollar: https://watcher.guru/news/brics-us-central-bank-hits-1t-in-losses-what-it-means-for-the-dollar

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NESARA/ GESARA, Ben Fulford:

The NESARA / GESARA implements 20 fundamental changes / reforms to free humanity from the Cabal bankers and the controlled puppets, the Deep State Governments, study these 20 exciting here!!

NB. Not surprisingly, much disinformation about NESARA / GESARA can be found on the internet. Wikipedia’s article is total disinformation.

Dr. Harvey Francis Barnard’s NESARA bill—National Economic Stabilization and Recovery Act was rejected by congress in the 1990s.

Dr. Barnard was a systems philosopher and had tried for years to interest Congress in his monetary reform suggestions.

Read full post here:  https://dinarchronicles.com/2024/07/27/restored-republic-via-a-gcr-update-as-of-july-27-2024/

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

Jeff   The budget...they're going to finish it probably just shortly before Iraq's accession to the World Trade which will be the weekend of August 17th and 18th.   That accession period is the nucleus to everything right now.  Everything is happening around that accession date.

SkyWalker   Remember in 2003 when the old Swiss dinars were being exchanged for the new and current Iraqi dinar. The U.S. Army transported and distributed the currency throughout Iraq. The outgoing Swiss currency did not have three zeros. The new Iraqi dinar had three extra zeros because it lost value.  Because Iraq was post invasion and the nation had no industries or other methods to sustain its economies. That is why the dollar was brought into Iraq by the U.S. government as a means to keep the Iraqi economy alive. Now, the situation has changed and through monetary policies the nation can justify restoring the value of the Iraqi dinar. Inflationary zeros were added to the notes back in 2003 by the U.S. government that paid for the printing of the Iraqi dinar. Now, the inflationary zeros will be removed because the government has met the requirements of the CBI.

'We Did It—Congratulations': David Schweikert Decries US Reaching $35 Trillion In National Debt

Forbes News:  7-26-2024

In a fiery speech on the House floor, Rep. David Schweikert (R-AZ) denounced the level of government spending, and lamented the massive amount of national debt the US has accrued.

https://www.youtube.com/watch?v=z7lOcJqZEl4

There Is A Storm Brewing In Our Financial System

Lynette Zang:  7-26-2024

Today we are joined by one of my dearest friends George Gammon! We discuss a wide range of topics from monetary policy to the unrealized losses from the banks and what this all means for you and your money...

https://www.youtube.com/watch?v=jEjkbggCrF8

“Tidbits From TNT” Saturday Morning 7-27-2024

TNT:

Tishwash:  Expanding the electronic payment base is an important financial transfer

The global smart card company “Ki” described the expansion of the electronic payment base in the country as moving to an important stage in financial transactions.

A responsible source in the company said that the development in the field of electronic payment and the acceptance of this form of transactions by a wide segment of society came as a result of what the citizen saw as a safe, advanced and fast service that saves time and effort in many transactions.

The source added that the directives of the government and the Central Bank of Iraq to support electronic payment have yielded positive results that contribute to the development of the national financial sector.

He pointed out that the company is working hard to create new products that are world-class and in harmony with the needs of the citizen. link

Tishwash:  Due to the extreme heat, tomorrow Iran will close all government centers and banks

Iran's state media council has announced that all government offices and banks will be closed tomorrow, Sunday, due to the extreme heat, according to the Fars news agency. "Due to the continued extreme and unprecedented temperatures and in order to protect the health of citizens and rationalize energy consumption, all government offices, centers and banks across Iran (except for emergency and relief services centers) will be closed tomorrow, Sunday," the secretariat of the state media council said in a statement issued on Friday.

"Official working hours in all government offices and banks across the country (except for emergency and relief services centers) have been set from 6 to 10 a.m. on Saturday," the statement added. "Remote work is also allowed for employees who are unable to come to work due to their health conditions," the statement added.

The capital, Tehran, witnessed its hottest day since Wednesday afternoon, with a temperature of 43 degrees in the city of Varamin. Temperatures will continue to rise this week and next, with temperatures expected to reach 50 degrees Celsius in most parts of the country over the next five days, according to Iran International.  link

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Tishwash:  Al-Sudani pressures factions to calm escalation against Americans, seeks Tehran's support

Iraqi Prime Minister Mohammed Shia al-Sudani seeks to exert pressure on the armed factions loyal to Iran to stop their escalation against American interests and targets in Iraq, according to informed sources. 

The sources told Shafaq News Agency, "Al-Sudani has been working for days to pressure the armed factions to stop the escalation operations against the Americans after the bombing of Ain al-Assad base, for fear of American reactions that may escalate the security situation and confuse it inside Iraq."

The sources added, "Al-Sudani communicated with Iranian figures in order for Tehran to pressure those factions to stop escalating their operations against the Americans and give him a new opportunity to end the American presence in Iraq through dialogue and negotiation, but so far the factions reject the pressures of Al-Sudani and those close to him."

On Friday, a spokesman for the US Department of Defense confirmed that an attack had occurred on the area near the Ain al-Asad air base in Iraq, without resulting in any injuries among US military personnel.

A security source reported, on Thursday evening, that the base was targeted by at least two missiles. link

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Tishwash:  The Iraqi Embassy opens up prospects for cooperation with Egyptian businessmen and investors to work in Iraq

The Iraqi embassy in the Egyptian capital, Cairo, discussed, today, Friday, with investors and businessmen of major Egyptian companies, opening up prospects for joint cooperation.

The Iraqi Ambassador to Cairo, Qahtaan Al-Janabi, told the Iraqi News Agency: "The meeting addressed many files, the most important of which is the fruitful cooperation between the two countries in all fields," noting that "the presence of major Egyptian companies specialized in energy, pharmaceutical industries, and transportation is important to transfer Egyptian experiences to the Iraqi market."

He added that "the investors' problems were listened to and how to work on solving their problems and working to overcome the obstacles that hinder their work and travel and providing all facilities with the aim of transferring their expertise to Iraq, especially since the number of companies is increasing day by day," indicating that Prime Minister Mohammed Shia al-Sudani, during his meeting with senior businessmen, praised their role in building the Iraqi infrastructure by implementing many projects such as bridges and others.

He pointed out that "Egyptian companies are very willing to open up prospects for joint cooperation and investment in Iraq, with the aim of achieving stability and economic growth and transferring Egyptian experiences and expertise to the Iraqi market and achieving sustainable development and providing job opportunities and diversifying sources of income in the country and advancing the economic and social future of Iraq."

In turn, the investors expressed "their happiness in increasing the volume of trade and economic exchange in Iraq, especially after the stability of the security situation, which has become attractive for the presence of Egyptian companies in Iraq, and transferring Egyptian experiences in development projects in many fields such as energy, housing, roads, agriculture and medicine, with the aim of transferring the Egyptian experience to the Iraqi market."

Former Minister of Transport Hani Dahi, Chairman of the Board of Directors of the Nile Valley Company, explained to the Iraqi News Agency (INA) that "the security climate in Iraq is very encouraging for the presence of Egyptian companies in large numbers, especially since Iraq has become a safe and attractive environment for investment in all agricultural and industrial sectors. It is very important to transfer the Egyptian experience in all Iraqi governorates at the level of bridges, roads and electricity, especially since Egypt has great experiences in construction and reconstruction in light of a series of projects that it has implemented over the past ten years."   link

Mot:  .. FINALLY !!!! --- Vindication!!!! - When ur Hot Ur Hot

Mot: .... Hear Ye!! -- Hear Ye!!!

Economist’s “News and Views” Friday 7-26-2024

INCOMING CRISIS: When Banks, Gov Debt, and BRICS Collide

Taylor Kenny: 7-25-2024

In this urgent and riveting expose, financial expert Taylor Kenney uncovers the hidden economic threats that the government and mainstream media have ignored for years.

As U.S. debt skyrockets and geopolitical tensions escalate, Taylor reveals why savvy investors are moving their assets out of the traditional financial system.

CHAPTERS:

01:17 Current National Debt

03:51 Global Sanctions

 05:46 Billions of Unrealized Losses

08:08 The Hard Truth

10:35 True Store Of Value

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

Markets Would Be A "Smoldering Ruin" If Manipulation Ended | Ed Steer

Liberty and Finance:  7-25-2024

In these tumultuous times marked by political upheaval and economic uncertainty, understanding the true dynamics of the stock market and financial systems is crucial.

Ed Steer offers insightful analysis, highlighting structural imbalances and the pervasive intervention in markets that distort reality. He emphasizes a cautious approach, advocating ownership of tangible assets amid a landscape where market interventions maintain an illusion of stability.

For those seeking clarity amidst the complexities of today's economy, Ed Steer provides indispensable insights through meticulous tracking of market data and trends.

NTERVIEW TIMELINE:

0:00 Intro

1:20 Gold & silver manipulation

5:25 Physical deliveries

10:00 Chinese gold buying

14:43 Fiat currency failure

19:30 Physical precious metals

22:31 Owning physical metals

28:00 If markets weren't manipulated

https://www.youtube.com/watch?v=WJFl7Eekupk

As US Stocks Collapse, Japan's Currency Shock & China Trade War Threatens Bigger Sell-Offs

Sean Foo:  7-26-2024

The US stock meltdown just erased $1 trillion dollars of investor money. As the AI and tech bubble starts to deflate thanks to poor earnings, a perfect storm is brewing that could cause even bigger sell-offs.

 We must understand two big risks to the US economy and the equity markets - the big Yen reversal & the coming trade war risk with China.

Timestamps & Chapters:

0:00 US $1 Trillion Meltdown

 3:03 Japan's Major Currency Risk

6:02 China Trade War Nightmare

8:36 US Economy & China Retaliation

 11:55 More Stock Market Pain Coming

https://www.youtube.com/watch?v=2RD6kgz8-1Y