News, Rumors and Opinions Friday AM 8-2-2024

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 Fri. 2 Aug. 2024

Compiled Fri. 2 Aug. 2024 12:01 am EST by Judy Byington

Judy Note: The Petro Dollar recently became officially defunct as China, Russia, India and the Middle East abandoned the fiat US Dollar, refusing to sell oil to the US.

The creation of the Federal Reserve in 1913, in tandem with the development of the tax-exempt foundation and the creation of the IRS, set the stage for a 20th century defined by elite control of lower-class labor. 

Thurs. 1 Aug. 2024 Mr. Pool on Telegram: The Alliance Plan

NESARA/GESARA Debt Relief Implementation

The Military will provide the masses with the food they need.

QFS implemented

There will be a 95% reduction in government structure

The Federal Reserve is officially dead.

The IRS is under new US Treasury Department with a new tax system where only a 14% tax is charged on new items, no taxes on food or medicine, salaries, used houses or cars, etc.

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Global Currency Reset:

Thurs. 1 Aug. 2024 Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#

Last night Wed. 31 July there was a celebration dinner in Reno with bank and intake managers

Several confirmations pointed to this going by notifications tomorrow Fri. 2 Aug. after Markets closed and/ or Saturday 3 Aug.

Appointments could happen Fri., Sat or Sunday 4 Aug.

Redemption Centers will be open on Sunday 4 Aug.

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Thurs. 1 Aug. 2024 Wolverine: “Sources say that Reno has started and were paying out 1% to certain platforms. The Precatorious Platform has been released. Hopefully we will be celebrating tomorrow Fri. 2 Aug. 2024.”

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Global Financial Crisis:

Thurs. 1 Aug. 2024 Argentina: Where Did Argentina’s Gold Go? Argentina is facing a small problem. Somewhere, 62 tons of gold worth $4.5 billion, the country’s entire gold reserve, have gone missing. The government reluctantly disclosed that the Argentine gold was loaded onto British Airways charters and sent to London. The erratic president Javier Milei, before entering politics, worked at the British bank HSBC. Remember how in November 2023 all of Argentina celebrated Milei’s victory?

Five months before his assassination, President John F. Kennedy issued this executive order that would give the American currency back to the people by printing money based on a silver standard, taking away the power of the Federal Reserve Banking Cartel. Many argue this is the reason that JFK was assassinated.

Deep State Cabal CBDC non-asset backed digital currency financial system: “There will be control.” European Central Bank president, Christine Lagarde, admits the EU’s new CBDC—the digital euro—will be used to exert control. EU citizens already face imprisonment or fines for participating in cash transactions above €1000, but the introduction of the digital euro will enable financial totalitarianism on a scale that would make even George Orwell wince.

Read full post here:  https://dinarchronicles.com/2024/08/02/restored-republic-via-a-gcr-update-as-of-august-2-2024/

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

Jeff   They haven't implement their budget yet because they're waiting for the rate to change.  Everything in Iraq...the budget, the laws, the overturning the budget, everything out there is being stalled and delayed to be timed with the rate change.

Walkingstick   [Iraqi bank friend Aki update]  AKI:  I got a phone call...Monday and the phone call is telling me to do something...Sudani and his staff/administration along with the CBI, they are reaching out to ex-patriots of Iraq...that left Iraq back in 2003.  We're dealing with teachers, scientists, bankers, economists, doctors...In 2003 when Saddam ...caused these brilliant people...of Iraq to leave...This was called the brain drain.  The brain drain effect will now be replaced because of what Sudani is doing with these ex-patriots.  [Post 1 of 2....stay tuned]

Walkingstick   He is painting a bright picture to all that left Iraq to come back.  He is explaining to them you will be receiving new lower notes, new currency...a new value that will give you purchasing power...Your businesses, investments in our country are now well protected.  Sudani tells the ex-patriots around the world you can now make a living in Iraq...Sudani is calling them home. He's reaching out to them through the internet...He's really doing it by word-of-mouth.  News travels at a faster pace from person to person... WALKINGSTICK:  Sudani is calling his people back and then he doesn't do the monetary reform?  No.  Not likely!  [Post 2 of 2]

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'Slow Motion Fiscal Crisis' As U.S. Debt Hits Record $35 Trillion | Lyn Alden

David Lin:  8-1-2024

Lyn Alden, Founder of Lyn Alden Investment Strategy, discusses the U.S. fiscal situation, monetary policy update, and asset allocation for the remainder of 2024.

0:00 – Intro

1:00 - Labor market

 3:28 - Fed rate cut

13:13 - Sovereign debt crisis?

15:39 - Bond market

18:20 - Small-cap rotation

 20:05 - AI investment themes

24:47 - Copper

27:00 – Bitcoin

 30:30 – Liquidity

 33:58 - $35 trillion in debt

40:09 - Federal interest payment

43:00 - China's holdings of U.S. Treasuries

46:20 - Yen and BoJ

48:36 - Housing market

https://www.youtube.com/watch?v=VX3iBRyf14M

“Tidbits From TNT” Friday Morning 8-2-2024

TNT:

Tishwash:  Pentagon: Within 72 hours, Iran and its allies will launch a large-scale attack on Israel

CNN, citing the Pentagon, reported on Thursday that Iran and its allies will launch a large-scale attack on Israel within the next 72 hours.

Senior American officials say they expect the upcoming Iranian attack to be very similar to the Iranian attack last April 13 - but on a larger scale - because it is likely to also include the intervention of Lebanese Hezbollah, which did not participate in the previous attack.

Senior officials in President Joe Biden's administration fear that since the context this time is the assassination of a Hamas leader in Tehran and not an Iranian general in Damascus, it may be difficult for them to mobilize the same international and regional coalition of countries that stopped the previous Iranian attack.

Last Wednesday, US intelligence services began receiving clear indications that Iran will respond, according to an American official.

Iran had held an emergency meeting of the Supreme National Security Council following the assassination of Haniyeh in Tehran, accusing Israel of the assassination and threatening a harsh response. This coincided with the assassination of Hezbollah leader Fouad Shukr in an Israeli raid hours before Haniyeh's assassination.  link

Investment reveals the location of the first economic city in Iraq

The National Investment Commission revealed, today, Friday, the location of the first economic city in Iraq, while indicating that economic cities represent investment portfolios capable of attracting and bringing in local and foreign capital.

Hanan Jassim, spokeswoman for the National Investment Commission, told the Iraqi News Agency (INA): "The head of the National Investment Commission, Haider Mohammed Makiya, during his meeting in the presence of committee members and representatives of the ministries and relevant sectoral bodies in Maysan Governorate

Called for the importance of intensifying efforts and coordinating them in a detailed and precise manner that contributes to creating a realistic vision and a successful announcement for investors, businessmen and companies wishing to undertake this type of investment."

She added that "the attendees were informed of the full borders of the regions distributed according to the projects to be established and the ownership of the lands with the possibility of expanding some of them," indicating that "it was agreed on the importance of preparing a clear map of road networks, water and electricity sources and other requirements for granting investment licenses for these projects, which will be among the topics and discussions of the upcoming meetings."

Jassim pointed out that "the committee's work witnessed the presentation of a number of proposals and ideas that support the implementation of such projects, based on the Prime Minister's approval of the minutes and recommendations of the Diwani Order Committee (23674), which decided to form the Higher Committee for the Economic Development and Advancement of the Al-Tayeb Area in Maysan Governorate and its Neighboring Areas

Headed by the Chairman of the National Investment Commission and the membership of various state bodies, including the Governor of Maysan, the Chairman of the Maysan Investment Commission, the Chairman of the Industrial Cities Authority in the Ministry of Industry and Minerals, in addition to a number of general managers in the Ministries of Finance, Planning, Oil and Education and a representative of the Prime Minister's Office."

Jassim explained that "the Higher Committee for the Development and Advancement of the Al-Tayeb Area in Maysan Governorate and its Neighboring Areas has actually begun its work, headed by the Chairman of the National Investment Commission, Haider Mohammed Makiya."

She stressed that "the development and Advancement of the Al-Tayeb Area, southeast of Maysan Governorate, will be the first economic city in Iraq and will represent a successful model and an economic resource for the state that can be applied in other governorates of the country," explaining that "this model will represent diverse and ready investment portfolios capable of attracting and bringing in local and foreign capital."

She continued, "Al-Tayeb City will include a group of diverse projects in various economic specializations, including projects specialized in the residential sector, others in the industrial sector, and other economic projects, in addition to recreational and academic projects," noting that "developing the region will achieve a great economic return that will contribute to stimulating the economic base in the governorate, and providing job opportunities for the governorate's people."  link

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Tishwash:  Despite their large numbers, a shocking percentage of government and private banking services in Iraq

A government advisor revealed a shocking percentage and number of banking services in the public and private sectors provided to the public in Iraq.

Mazhar Mohammed Saleh told {Al Furat News} agency, "The point of stability in the banking market in particular and the financial market in general is not the large number of private banks and financial companies, but rather the point of achieving (financial depth), which means how much banking and financial activities and services contribute to the growth of the country's annual gross domestic product, i.e. through the breadth of services provided by these banking companies to the public in terms of quality and quantity to maximize the added value in economic activity."

He added that these banking services "in the gross domestic product revolve around a growth rate that does not exceed 1.5% in most cases, which is a low percentage compared to developed countries where this percentage rises to more than 20%."

Saleh explained that "based on this, the solidity and stability of the financial and banking market in particular is measured by the number of services provided to the public, and the number of its services still does not exceed 12 services at best, while it should rise to 45 banking services as a minimum."

"As for banking density, which is measured by the population's share of bank branch services, despite the huge number of government and private banks, the share of their branches in providing banking services to the population is still low," he continued. "

It is noted that the services of a single branch of these banks are still not commensurate with the population, and the banking density in our country is about 40,000 people per branch on average, while it should not exceed ten thousand people per branch unless it is less, as is the case in developed countries, where a single branch provides its services to an average of no more than six thousand people per bank branch."  link

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Tishwash:  The Ministry of Commerce announces the launch of the electronic reservation system for participation in the 48th session of the Baghdad International Fair, starting from

The Iraqi General Company for Exhibitions and Commercial Services at the Ministry of Trade announced the launch of the electronic reservation system for participation in the 48th session of the Baghdad International Fair, starting from today, Thursday, the first of August, and through the company's official website (www.expo.gov.iq).

The company's general manager, Mustafa Al-Maani, said in a statement: "In implementation of the directives of the Minister of Trade, Athir Al-Ghariri, the electronic reservation system was launched for the seventh consecutive year to reserve space, location and other technical matters for participation in the 48th session of the Baghdad International Fair, which will be launched under the patronage of the Prime Minister and under the slogan (Investment, Development, Prosperity) for the period from the first to the seventh of next November.

The statement explained that "the company, within its plans, has adopted the electronic reservation system to keep pace with developments and communication to reduce routine, time, effort and reviews in this aspect."

Pointing out that "this system aims to create an integrated database on the nature and size of participation in the Baghdad International Fair, through the electronic map through which it is possible to know the participating countries and entities and the locations of their pavilions with all related information as well as the charts." link

Mot: .. LOL - I Thought of Who Immediately 

Mot: . soooo the WIFI is Down - Boo Hoo 

This Is One Of The Only Ways They Can Tame Inflation And Save The Dollar

This Is One Of The Only Ways They Can Tame Inflation And Save The Dollar

Notes From the Field By James  Hickman / Simon Black  July 31, 2024

There are only seven countries in the world that have a GDP in excess of $3 trillion: the United States. China. Germany. Japan. India. United Kingdom. And France.

Microsoft’s current market capitalization is also right around $3 trillion… which means that out of the 193 countries in the world that are recognized by the United Nations, 186 of them have an economy that’s smaller than Microsoft. Crazy.

Of course, much of Microsoft’s meteoric growth has taken place over the past three years because of the AI boom. And just like Nvidia is considered the most important hardware company in AI, Microsoft has positioned itself as the most important software company in AI… and they’re pretty much betting the business on it.

According to the company’s earnings release yesterday, Microsoft has generated an unbelievable $118 billion in Operating Cash Flow (OCF) over the past twelve months.

(OCF, if you’re not familiar, is a much more useful metric than ‘net income’ or ‘profit’ because it strips out all the non-cash accounting nonsense like depreciation.)

$118 billion in operating cash flow is a staggering amount of money. But what’s even crazier is that Microsoft spent almost every penny-- more than $113 billion-- making new investments in their business. And most of those were AI-related investments.

In short, Microsoft is a profit machine. But it’s dumping 96% of those profits into AI, in large part to justify having a $3+ trillion valuation.

Time will tell if those investments pan out, and whether Microsoft is able to build viable products that generate a sufficient return.

There’s no guarantee; AI is an extremely competitive industry where budding startups and giant tech companies are both working on the next big thing. And I have to wonder how much upside is left for a business that already has a $3 trillion valuation, relative to the competitive risks against Amazon, Google, Facebook, Apple, etc.

Yesterday the company announced that growth in their cloud ‘Azure’ business (which includes their AI revenue) was 29% year-over-year. That growth rate was slightly lower than last quarter’s 31% growth.

But even a tiny, 2% decline in growth had the market freaking out. And Microsoft stock initially plunged more than 8% in after-hours trading-- roughly $250 billion in market value. That’s larger than the economy of New Zealand.

The stock recovered much of those losses this morning. But the mini meltdown is a clear demonstration of the risk involved: even a hint of a slowdown can trigger punishing losses.

Bottom line, AI is absolutely disruptive technology and a major game changer. But we’re still in very early days; there’s a long way to go, and it’s far too early to declare a winner. Yahoo looked like the dominant Internet titan in the late 1990s, but the landscape changed dramatically.

Maybe Microsoft ends up winning the race. But there’s a lot of uncertainty in drawing that conclusion right now.

One thing that’s NOT uncertain, however, is that AI someday going to be as integral to daily life as mobile phones and the Internet are today.

We also know that AI will continue to consume ridiculous amounts of electricity — electricity, which the US grid does not have right now (and Europe is in even worse shape relative to its electrical grid).

Thanks to horrendous government incentives and propaganda by the inspired idiots and climate fanatics in the media, electrical supply from “renewable sources”, i.e. wind and solar, has skyrocketed over the past few years.

It’s no coincidence that the country is simultaneously facing major capacity shortfalls and power outages… because, you know, sometimes the sun doesn’t shine, and the wind doesn’t blow.

The green fantasy is that wind and solar are going to save the planet. But if you’re honest about the math, they’re really not all that clean.

First, you must mine a lot of really dirty resources (like cobalt) in vast quantities from places in Africa which rely on child labor in extremely dangerous conditions. But you’ll never hear Greta Thunberg utter a word about that.

Then you have to manufacture 2-6x more solar panels and wind turbines… because, again, there are occasions when the sun doesn’t shine (like nighttime!) and the wind doesn’t blow.

In the end, wind and solar end up using a lot more resources per kilowatt-hour of electricity produced than many conventional sources, and a lot of the material used are really bad for the environment.

Nuclear is a far more environmentally friendly, far more efficient way to produce electricity. And hopefully that will make a comeback… though the nuclear renaissance is likely still some years away.

In the meantime, there is an incredibly cheap, abundant, and much cleaner source of fuel that can solve America’s electrical capacity shortages and power the AI revolution: it’s natural gas.

I wrote about this last week, saying that US natural gas is a ‘picks and shovels’ investment in the AI boom.

It won’t be clear for a long time who will win the AI race. In the late 1990s, Yahoo looked to be the dominant tech titan… but the landscape changed dramatically over the next decade.

But again, we do know that AI will consume more power than the US grid has available. And the ONLY viable option to supply that power right now is natural gas.

The US is one of the wealthiest nations in the world when it comes to natural gas reserves. In fact, supply is so vast that US natural gas prices are laughably cheap; relative to the amount of energy contained in a unit of US natural gas, it’s priced at the equivalent of about $15 oil. That’s cheap.

So cheap, in fact, that an electrical grid powered by natural gas can not only deliver the quantity of electricity necessary to power the nation (and AI boom), but it could dramatically reduce energy costs.

This is a big deal. Energy prices influence the price of everything. If electricity is cheap, consumers and families save money. Manufacturing costs less. Services cost less. Transportation costs less. Everything becomes cheaper and more efficient.

To be even more clear, a natural gas renaissance could generate greater US economy growth, potentially even leading to higher tax revenue and lower deficits.

In short, natural gas is one of the only ways that they’ll be able to tame the inflation problem and save the dollar. And with natural gas prices so cheap right now, it seems to me that there’s a lot more upside in the energy of the future, than in companies that are already selling for trillions of dollars.

To your freedom,  James Hickman  Co-Founder, Schiff Sovereign LLC

PS — If you want to go even deeper into this topic, we definitely want to encourage you to check out Schiff Sovereign: Premium. it’s packed with some incredible insights, including Plan B strategies and compelling investment research. The upcoming issue due out in a few weeks will go into far more detail about this trend, as well as some ways to invest.

https://www.schiffsovereign.com/trends/this-is-one-of-the-only-ways-they-can-tame-inflation-and-save-the-dollar-151198/

5 Money Mistakes Even Financially Savvy People Make

5 Money Mistakes Even Financially Savvy People Make

Cindy Lamothe  Thu, August 1, 2024  GOBankingRates

No matter how great you are at managing your finances, no one is immune to making the occasional money mistake — and some of these can be dire.

“It’s important to recognize that some seemingly minor errors can have significant long-term effects,” said Michael Ashley, finance expert and founder of Richiest.

While everyone has financial blind spots, the good news is you can learn about them before they cause you problems. Here are some of the top money mistakes even the most financially savvy folks make.

Earning passive income doesn't need to be difficult. You can start this week.

Neglecting to Regularly Review and Adjust Financial Plans

One common mistake, according to Ashley, is neglecting to review and adjust your financial plans regularly. “Many people assume that once they’ve set up a budget or investment plan, they don’t need to revisit it.”

However, changes in income, expenses or life circumstances can render old plans obsolete, potentially leading to missed opportunities or financial shortfalls.

Underestimating Small, Recurring Expenses

Another frequent issue is underestimating the impact of small, recurring expenses.

While a small subscription service or daily coffee might not seem like a big deal, Ashley said these expenses can add up over time and erode savings if not monitored carefully. “This can be particularly damaging in the long run, as the cumulative effect of these small expenditures can be substantial.”

Failing To Diversify Investments

According to experts, some people also make the mistake of relying too heavily on a single investment or income source.

“Diversification is a fundamental principle of financial management, and failing to spread out investments or income streams can leave you vulnerable to market fluctuations or job loss,” said Ashley.

He explained this lack of diversification can result in significant financial risk and instability.

“Truth is, thinking that you are good with money is one of the easiest ways to let your guard down and put yourself in a situation where you steadily miss out on financial advancement opportunities,” said Mafe Aclado, finance expert and general manager at Coupon Snake.

In her experience, one of the most common money mistakes people make — even when they are generally good with money — is failing to diversify their investments. Particularly frugal people, for example, have some good habits, like avoiding impulse spending, but they also avoid all but the most familiar and safe investments.

She said these people lay all their financial eggs in one basket. “And what makes this a huge money mistake is by concentrating all their investment[s], they run a huge risk of loss if the investment performs badly.”

https://www.yahoo.com/finance/news/5-money-mistakes-even-financially-160055894.html

Evening News with MarkZ and Dr. Scott Young. 08/01/2024

Evening News with MarkZ and Dr. Scott Young. 08/01/2024

MarkZ Disclaimer: Please consider everything on this call as my opinion..  Be sure to consult a professional for any financial decisions

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

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

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

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

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!

Youtube:     https://www.youtube.com/watch?v=0StLGzodeco

Some “Iraq News” Posted by Clare at KTFA 8-1-2024

KTFA:

Clare: Mazhar Saleh: A trend towards reforming the government banking sector

8/1/2024

 Baghdad: Imad Al-Emara

The financial advisor to the Prime Minister, Dr. Mazhar Mohammed Salih, considered the reform of the banking system as one of the most prominent priorities of the government program, due to its positive effects on all aspects of the economy.

Salih explained to Al-Sabah that "the government's vision for economic reform focused to a large extent on banking reform, which is one of the priorities of the government program, and the first steps began through Rafidain Bank," noting that "the government banking sector currently dominates more than 85 percent of the banking system's assets, and its banking operations and activities account for almost the same percentage of total deposits and bank credit."   LINK

Clare: Prime Minister's Advisor: We are moving towards reforming the government banking sector

8/1/2024  Baghdad: The pillar of the emirate

The financial advisor to the Prime Minister, Dr. Mazhar Mohammed Salih, stated that reforming the banking system is one of the most prominent priorities of the government program, due to its positive impact on all aspects of the economy, indicating that the first steps of this reform began through the government banking sector, which currently dominates more than 85 percent of the banking system's assets, and its banking operations and activities account for almost the same percentage of total deposits and credit.

Earlier, Prime Minister Mohammed Shia al-Sudani chaired a special meeting to develop the work of government banks, and directed the finalization of procedures for developing the work of Rafidain Bank.

The Prime Minister's media office said that during the meeting, which was attended by representatives of Ernst & Young for auditing and financial consulting, Al-Sudani was briefed on the technical and administrative procedures for the Rafidain Bank development project, which were taken during the period following the signing of the contract with the company specialized in structuring and developing work in the banking sector.

It is noteworthy that the Rafidain Bank development plan includes a comprehensive review and evaluation of the bank's work, and structural administrative reforms, aiming to provide a package of integrated banking services to citizens and companies, relying on advanced electronic programs, modern technology in all banking transactions, optimal use of human and technical resources, and transitioning to automated work, which helps the bank's ability to meet
global banking requirements.

Advisor Saleh told Al-Sabah: "The government's vision for economic reform focused largely on banking reform, which is one of the priorities of the government's program, and the first steps began through Rafidain Bank," noting that "the reform principles established by the government program, which was approved by the House of Representatives, are based on regular executive priorities, foremost of which is reforming the banking sector, as the Prime Minister's vision for economic reform focused on reforming the government banking sector, which currently dominates more than 85 percent of the banking system's assets, and its banking operations and activities account for almost the same percentage of total deposits and bank credit."

Saleh pointed out that this beginning came because these banks are large and important, but they are burdened with the legacy left by the conflicts of the past half century and their repercussions on the efficiency of this large banking system, whose capital base still constitutes only a low percentage not exceeding 22 percent of the total capital of the banking system

 Indicating that "in light of this banking dominance burdened by inherited problems, our country suffers from limited growth in the activity of the banking market and its division between private banks, the number of which exceeds 50 banks, but they are limited in activity in deposits and credit, but they do not have a unified and homogeneous competitive banking market with government banks, as government banks monopolize market shares and banking activity and they are suffering greatly and their activity lives on sovereign banking liquidity as they are banks of a purely rentier nature that deal with large government deposits that affect their liquidity."

The government advisor explained that "in order to advance the Iraqi banking market, the first steps of reform have inevitably begun with government banks, especially major commercial banks such as Rafidain Bank. Based on the above, and with the aim of making government banks operate according to capital efficiency standards and lead the financing and development activity in the country on competitive foundations that provide financial inclusion at the same time, the study being prepared by the global auditing and accounting firm Ernst Young is based on the principle of creating a highly efficient government commercial banking sector that takes the initiative with the rest of the banking market in financing market activity on digital foundations and financial and accounting technologies in accordance with modern financial engineering.

He pointed out that this leads to the birth of a government bank specialized in managing government banking operations exclusively and is a fundamental pillar in organizing the treasury account and stabilizing government cash flow budgets, i.e. at the same time being the arm of public finance in government banking organization."

Saleh believes that these steps can achieve the goals that lead to “the birth of a homogeneous banking market that operates according to competitive principles and can integrate with the local and international financial and banking system with high credit and banking efficiency required by the goals of sustainable development and the requirements of the availability of market institutions and their integration between financing services on the one hand and real investment and production growth on the other hand.”    LINK

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Clare: One of the most prominent defendants in the tax deposit theft case was extradited

8/1/2024   Baghdad

The head of the Integrity Commission, Judge Haider Hanoun, announced the extradition of one of the most prominent defendants in the tax deposit theft case.

Hanoun said in a press conference attended by "Al-Eqtisad News", "The issue of the theft of the century will not die no matter how much the corrupt try to hide it from the oversight agencies and the people's eyes," indicating that "fighting corruption is one of the government's priorities."

Hanoun added, "Qasim Mohammed was recovered from the Kurdistan Region and the managing director of the Humpbacked Whale Company after he had fled to Turkey. He is one of the major defendants in the case of stealing tax deposits and the theft recorded against the defendant is 988 billion Iraqi dinars, which are not final numbers," noting that "Nour Zuhair is a defendant who is on bail and will be tried."

He stressed that "the Prime Minister is following up on the issue of tax deposits on a daily basis," stressing that "another accused person, Mohammed Falah Al-Janabi, the managing director of Al-Qant Company, has been arrested. He is accused of stealing more than a trillion dinars through 79 forged checks."  LINK

Clare: By names and addresses.. Details of the arrest of 8 main suspects in the theft case of the century

8/1/2024

The Federal Integrity Commission announced, today, Thursday, an official list of the details of the arrest of 8 main defendants in the case of theft of tax deposits "the theft of the century". They are:

1- Qasim Muhammad Muhammad
was arrested.
Position / Managing Director of Al-Hut Al-Haddab Company
Charge / Receiving 55 checks and 11 eleven appearances
Total stolen amounts
nine hundred and eighty-two billion dinars from the tax deposit account

2- The fugitive accused Abdul Mahdi Tawfiq Mahdi
Location Lebanon
Stolen amounts two trillion two hundred and eighty-three billion Iraqi dinars
Receiving 155 checks for an amount from the tax deposit account

3- The accused Muhammad Falah Abdullah Al-Janabi
Location / United Arab Emirates
Position Managing Director of Al-Qant Company
Receiving 79 checks for
stolen funds / one trillion one hundred and eighty-five billion two hundred and twenty million

4- The fugitive accused Hussein Kawa Abdul Qader Abdul Aziz
Location / Erbil
Position / Managing Director of Baghdad Winds Company
Stolen funds / six hundred and seven billion Iraqi dinars by receiving 40 checks

5- The fugitive accused Abdul Rahman Muhammad Ibrahim
Location / Erbil
Position Managing Director of Badia Al-Masaa Company
Stolen funds / six hundred Twenty-four billion Iraqi dinars through 37 checks

6- The fugitive accused Alaa Khalaf Maran Al-Omar
Location: Lebanon
Position: Office of the former Prime Minister
Stolen funds: Four hundred and ninety-seven billion Iraqi dinars

7- The fugitive accused Abdul Amir Hassoun Ali Taha
Location: State of Kuwait
Position: Managing Director of Al-Fawaris Company
Stolen funds: Receiving an amount of one hundred and twenty-four million US dollars in exchange for facilitating procedures at the Ministry of Finance

8- The fugitive accused Muhammad Hassoun Ali Taha
Location: State of Kuwait Position
: Deputy Managing Director of Al-Fawaris Company.LINK

Clare: Judge Hanoun: The final amount of the theft of tax deposits exceeds what is announced

8/1/2024

Judge Haider Hanoun, head of the Integrity Commission, confirmed: "The final amount of the theft of tax deposits exceeds what is announced, because the Tax Authority has not yet informed us of the actual amount of stolen money.

Hanoun called on the Ministry of Finance and the Tax Authority to provide the Integrity Commission with the names and accounts of the companies from which those funds were stolen and have now become Iraqi money owned by the people. Otherwise, after 15 days, the head of the Tax Authority will be asked to hand over those documents or proceed with all legal measures.

He pointed out: "The amount offered today belongs to the former Director General of the Railway Directorate, which is more than two million dollars and another amount in Iraqi dinars in addition to 9 properties, 5 of which are worth more than 8 billion Iraqi dinars."

He continued: "We are coordinating with the State of Kuwait to extradite two other accused, who are two brothers who were working with the main accused, Nour Zuhair.   LINK

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 8-1-24

Good Afternoon Dinar Recaps,

TOKENIZED US TREASURY BILLS ON XRP LEDGER

"Tokenization platform OpenEden has announced that it will bring tokenized US Treasury bills (T-bills), a short-term US government debt obligation backed by the US Department of the Treasury, to the XRP Ledger (XRPL) and its users for the first time."

"The tokenization of T-bills onto the XRPL is a demonstration of how institutional access to decentralized finance (DeFi) is being driven by the tokenization of traditional real-world assets (RWAs).

The assets backing OpenEden’s TBILL tokens are invested in short-dated US T-bills and reverse repurchase agreements collateralized by US Treasuries. Minters are subject to stringent KYC and AML screening to ensure the highest security and regulatory compliance standards."

"Markus Infanger, Senior Vice President, RippleX. "Institutions are increasingly looking at where to tokenize their real-world assets and the arrival of T-bills on the XRPL powered by OpenEden reinforces the decentralized Layer 1 blockchain as one of the leading blockchains for real-world asset tokenization.”

"“Bringing tokenized T-bills to the XRP Ledger is the next step in our exciting journey. Purchasers will be able to mint our TBILL tokens via STABLECOINS, including Ripple USD (RLUSD) when it launches later this year.”

@ Newshounds News™

Read more:  Ripple
~~~~~~~~~

USDC TRADING VOLUME SOARS 48% in July, driven by MiCA

"Circle’s stablecoin trading volume spiked in July thanks to a surge in market inflows and new European (MICA) rules for digital assets.

 According to a July 31 report by CCData, the trading volume for USD Coin pairs on centralized exchanges reached $135 billion as of July 25, while its market capitalization rose 5.4% to $33.6 billion."

"With the implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, Circle became the first stablecoin issuer to be approved by regulators in the region on July 1."

"According to DefiLlama, USDT retains the largest market share of any stablecoin at nearly 70%. In addition, on July 31, Tether reported record profits of $5.2 billion in the first half of 2024."

"Several crypto exchanges in Europe delisted stablecoins ahead of the implementation of new rules on June 30."

@ Newshounds News™

Read more:  Coin Telegraph

~~~~~~~~~

"In a July 2024 CBDC report, it is documented that Russia’s CBDC pilot program has been successful and will extend the number of participants from 34 to 1200 banks/merchants in the second half of 2024."

There’s only 396 operating banks in Russia meaning that the 1200 participants that the CBDC will extend to EVERY BANK IN RUSSIA.

"Therefore, Russia is conveniently passing legislation to allow “international cross border cryptocurrencies” right before they ramp up CBDC usage in 2024"

@ Newshounds News™

Read more:  https://x.com/SMQKEDQG/status/1818676859527184787

~~~~~~~~~

Russia's top senator announces progress on BRICS digital payment system

Amid endless sanctions and Russia’s disconnection from SWIFT, the Bank of Russia has developed its own payment system, which many countries have already joined, Valentina Matviyenko noted

MOSCOW, August 1. /TASS/. Plans to create a BRICS digital payment platform are moving steadily forward, Russia’s Federation Council Speaker Valentina Matviyenko told a press conference.

"The creation of the independent financial payment platform BRICS Bridge, a standalone mutual payment system on a firm joint platform, is now being discussed within BRICS. I have spoken both with the Central Bank and the Finance Ministry, things are moving along nicely," she said. 

"It is being discussed with colleagues from central banks, finance ministries of all BRICS countries, including new members," Matviyenko said, adding that Russia, as the BRICS chair, is in charge of all this.

"If it works it will be a bombshell globally, in the best sense," the upper chamber head noted. She expressed hope that this issue would be considered at the summit of BRICS heads of states in Kazan in October. 

"Perhaps it will be approved then, or at least the discussions will lead to a decision on when and in which format it should be finalized, meaning this is no longer just an idea, it is moving forward in practice," she stressed.

Amid endless sanctions and Russia’s disconnection from SWIFT, the Bank of Russia has developed its own payment system, which many countries have already joined, Matviyenko noted. "This shows that there is a light at the end of every tunnel," she added.

The Federation Council Speaker pointed out that the dollar is becoming weaker globally amid an overflowing US national debt, while the system of mutual settlements in national currencies is expanding.

"I hope that the system that has been created by BRICS, will become a trend, an example that not only BRICS nations, but many other countries as well will join later," she said, adding that the issue is being discussed by the Shanghai Cooperation Organization (SCO) as well.

@ Newshounds News™

Read more:  TASS

~~~~~~~~~

MF'S GLOBAL RESERVE ASSET- SDR'S- PAY ATTENTION TO THIS ONE

"Congratulations to members, staff, and leadership on the 80th anniversary of the IMF’s foundation at Bretton Woods, New Hampshire.

The Fund is the crown jewel of the post–World War II international architecture. It was designed by idealists determined to construct a set of institutions to deter aggression among the major powers and prevent resumption of the interwar economic and financial unilateralism."

"The IMF’s principal purpose, according to its Articles of Agreement, is to promote international monetary cooperation by providing “the machinery for consultation and collaboration on international monetary problems.” In the turbulent period following the end of US dollar convertibility to gold in August 1971, members demonstrated that principle and quickly completed the Smithsonian Agreement by December. 

The agreement’s new par values for fixing currencies to the US dollar did not hold, though, and within two years, the Bretton Woods exchange rate regime dissolved into a system of managed floating exchange rates."

"The most enticing opportunity is the IMF’s global reserve asset, SPECIAL DRAWING RIGHTS (SDRs)."

"More than 50 years ago, members approved the first amendment to the Articles of Agreement authorizing the IMF to allocate special drawing rights. The negotiations lasted the better part of the 1960s. "

"SDRs are allocated in proportion to IMF members’ quotas. Each member receives an interest-bearing reserve asset and corresponding long-term liability on which it pays the same rate. The SDR’s value is based on a BASKET OF CURRENCIES with weights adjusted periodically by the IMF board. 

Its interest rate is a weighted average of the short-term government interest rates for the constituent currencies.An  SDR allocation adds to a member’s unconditional liquidity.

Unlike unconditional liquidity derived from borrowing or current account surpluses, the liquidity is costless until the SDRs are transferred to another holder."

"The initial allocation of SDRs annually over a three-year period starting in 1969 proved to be too little too late to save the Bretton Woods exchange rate regime, but nevertheless it was a pathbreaking and historic example of international monetary cooperation.

The second amendment to the articles, in 1978, not only preserved the IMF’s authority to allocate SDRs but also established a two-part obligation for members to collaborate on “better international surveillance of international liquidity” and “making the special drawing right the PRINCIPAL RESERVE ASSET of the international monetary system."

"SDRs are not a magic bullet that alone will solve today’s pressing global economic and financial challenges, but they are one of many instruments that can contribute."

@ Newshounds News™

Read more:  IMF

~~~~~~~~~

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Iraq Economic News and Points To Ponder Thursday Afternoon 8-1-24

During July, The Iraqi Market Trades Shares Worth More Than 60 Billion Dinars

Banks  Economy News – Baghdad  The Iraq Stock Exchange announced on Thursday that it will hold 21 trading sessions in July 2024, at a rate of five sessions per week. The sessions will not be held on the first and tenth of Muharram, which falls during the month.

According to the trading indicators for the month of July, the number of traded shares reached (61,327,427,127) shares, an increase of (80%) over the month of June, with a financial value of (60,199,416,955) dinars, an increase of (76%) over the month of June.

According to the index, the number of executed contracts reached (11,309) contracts, an increase of (26%) over the month of June.

The ISX60 index closed at 896.25 points in the last session of July 2024, up 1.6% from its June closing of 882.03 points.

The ISX15 free float index closed at (1008.30) points in the last session of July 2024, achieving an increase of (0.2%) from its closing in June (1005.49) last. 218 views  Added 2024/08/01 - 11:31 AM   https://economy-news.net/content.php?id=45822

Iraqi Central Bank Sales Rise To Nearly $300 Million In Today's Auction

Economy | 03:05 - 01/08/2024   Mawazine News – Baghdad  The Central Bank of Iraq's sales recorded an increase in today's auction, Thursday, amounting to nearly 300 million dollars.

 https://www.mawazin.net/Details.aspx?jimare=252509

The Paper Is Above 150 Thousand Dinars.. The Dollar Exchange Rate Rises Against The Iraqi Dinar

Economy | 01/08/2024  Mawazine News – Baghdad  Mawazine News publishes today, Thursday, the exchange rates of the dollar against the Iraqi dinar in exchange shops in local markets in Baghdad.

- Selling 150250 dinars for every 100 dollars.   - Buying 148250 dinars for every 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=252518

Oil Jumps Nearly 3 Percent As US Inventories Fall

Thursday 01 August 2024 07:28 | Economic Number of readings: 315  Baghdad / NINA / Oil futures jumped about three percent amid investor concerns about the expansion of the conflict in the Middle East, and after a sharp decline in US crude inventories.

Brent crude futures for September delivery rose $2.09 per barrel, or 2.66 percent, to $80.72 per barrel at settlement, while the more active October contracts rose $2.77 to $80.84.

US West Texas Intermediate (WTI) crude futures rose $3.18 per barrel, or 4.26 percent, to $77.91 per barrel at settlement, in their biggest daily gain since October 2023.

However, Brent crude ended July with a monthly decline of seven percent, while WTI crude fell by about four percent during the month. "

Government data showed that US crude inventories fell by about 3.4 million barrels last week."

Stocks fell for the fifth week in a row, the longest streak of declines since January 2021./End2

https://ninanews.com/Website/News/Details?key=1144886

Iraq Signs Mou With British Company To Develop Kirkuk Fields

Money  and business  Economy News – Baghdad  Prime Minister Mohammed Shia al-Sudani sponsored, today, Thursday, the signing ceremony of a comprehensive petroleum memorandum of understanding between the Ministry of Oil and the British Petroleum Company (BP) to develop Kirkuk fields for oil and gas production.

According to a statement, the Iraqi side was signed by Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani, while the BP CEO Murray Auchincloss signed on behalf of the company.

The statement added, “The memorandum includes the rehabilitation and development of the four fields of the North Oil Company in Kirkuk, which are the Kirkuk field with its two domes (Baba and Avana), the Bai Hassan field, the Jambur field and the Khabbaz field,

as well as the possibility of agreeing on other fields or exploration areas by agreement of the two parties, in light of the government’s efforts to optimally invest in promising opportunities in the energy sector, with the aim of increasing and enhancing oil production and gas and solar energy investments in this region.”

118 views   08/01/2024 - https://economy-news.net/content.php?id=45818

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

More News, Rumors and Opinions Thursday Afternoon 8-1-2024

TNT:

Tishwash:  American newspaper: Washington deploys 12 warships and 4,000 soldiers in the Middle East

The Washington Post confirmed that the United States has deployed 12 warships to the Middle East, where tensions are escalating following the assassination of Hamas political bureau leader Ismail Haniyeh in Tehran and Hezbollah military commander Fuad Shukr in Beirut.

A Pentagon official told the Washington Post that American destroyers are stationed in the Gulf and eastern Mediterranean, including the aircraft carrier USS Theodore Roosevelt, amphibious assault teams, and more than 4,000 Marines and sailors.

According to the report published by the newspaper, the United States has redirected a number of warships stationed in the Red Sea, which are carrying out operations against the Houthis in Yemen, to the Gulf and the Mediterranean, in light of the escalating tensions in the region.

On the other hand, the Israeli newspaper Yedioth Ahronoth reported that Israel warned Hezbollah through Western and regional mediators that any large-scale attack on it would lead to war, and that it intends to target fighters instead of focusing on the infrastructure supporting the fighting, and urged Hezbollah to adopt the same approach in its operations.

US Secretary of State Anthony Blinken called on all parties to stop escalatory measures, a message that was interpreted as being directed at Israel following the killing of Shukr and Haniyeh, according to the newspaper.

Regarding the US giving Israel the green light to launch operations in the Middle East, Blinken said: "The current path is heading towards more conflict, more violence, more suffering and more insecurity, and it is important to break this cycle, starting with a ceasefire in Gaza."

Speaking to reporters in Mongolia, Blinken stressed that reaching a ceasefire requires the parties to stop taking actions that lead to escalating tensions, and to find reasons to agree to the agreement rather than delaying or rejecting it. link

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

Tishwash:   Iraq signs MoU with British company to develop Kirkuk fields

Prime Minister Mohammed Shia al-Sudani sponsored, today, Thursday, the signing ceremony of a comprehensive petroleum memorandum of understanding between the Ministry of Oil and the British Petroleum Company (BP) to develop Kirkuk fields for oil and gas production.

According to a statement, the Iraqi side was signed by Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani, while the BP CEO Murray Auchincloss signed on behalf of the company.

The statement added, “The memorandum includes the rehabilitation and development of the four fields of the North Oil Company in Kirkuk, which are the Kirkuk field with its two domes (Baba and Avana), the Bai Hassan field, the Jambur field and the Khabbaz field, as well as the possibility of agreeing on other fields or exploration areas by agreement of the two parties, in light of the government’s efforts to optimally invest in promising opportunities in the energy sector, with the aim of increasing and enhancing oil production and gas and solar energy investments in this region.”  link

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

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

PompeyPeter   We still haven't got a speaker.  We still don't have a budget and we still haven't seen 4782 in the Gazette.  Is there really anybody who doubts what that is all about?  It's pretty obvious in my opinion it's all linked  to the rate.  You've got so many laws that are ready to go but are waiting for the rate.  Articles today talking about the optimism  of them passing the Oil and Gas Law.  It needs a rate.  Obviously that's a big part of the budget.  The budget hasn't come out  because the budget is waiting for the rate. 

Militia Man  Are they going to fire up the oil and gas law at 1310?  I highly doubt it.  Why wouldn't they have done it already? ...They had 19 years but they've done an extra year and got that done.  Now they're talking about it's an imminent situation...in the coming days... Bottom line is pressure is on.  

PREPARE FOR THE GREATEST FALL OF ALL TIME AS BOND YIELDS CRATER!

Greg Mannarino  8-1-2024

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

WARNING: US Debt Crisis Threatens Dollar ENDGAME (what happens next?)

Taylor Kenny:  8-1-2024

THIS JUST IN: Staggering U.S. national debt hits an unprecedented $35 trillion, raising urgent concerns about inflation and the future of dollar-denominated assets. Taylor Kenney explores the significance of this milestone, its potential impact on your finances, and the broader economic implications.

https://www.youtube.com/watch?v=9xxPzmPq5UA

“Coffee With MarkZ” Thursday Morning Chat 8-1-2024

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

MarkZ  Update- Some highlights by PDK-Not verbatim

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

Member: Good Morning and Welcome to August

Member: 8-1-2024=17=8    8 means a new Beginning.

Member: well, no Christmas in July…..just saying

Mod:  JUST REMEMBER, AUGUST 7TH IS JULY 25TH ON THE JULIAN CALENDER, WHAT ELSE IS CELEBRATED ON THE 25TH?,

Member: The RV and Nesara / Gesara will happen at one point because economically all countries will fail. Just a matter of time.imo

Member: GM Mark Z. Now that July gone without RV. Do you think we might have it this month?

Member: How confident are you in the military intel you got a few weeks ago that RV needs to be done by August 4th?

MZ: Yes they said around the 4th and 5th……but I don’t know and have not received an update.

MZ: It really is a “Nothing Burger” on RV news today.

Member: We have decided that we love the nothing burgers! We get through with the laughter and knowing that God sends enough to meet our needs.

Member: Quiet it's a good thing…that’s what we are told…..but it’s still frustrating…..for us and Mark as well I am sure;

Member: The RV will happen... rather we have patience or not.

Member: I would like to know Why did Kuwait only take 3 months to revalue atfer war with Iraqi…..and it is taking years or decades  for Iraq to revalue?

Member: maybe greed, corruption, theft, and lies have held it up this long.

Member: Bad guys who want to rule the world do not want us peasants to have any prosperity….poor people are easier to control.

Member: Skye posted a very good one saying that the pressures on for us to go within the next 72 hrs??

Member: Bruce say we should get Notified today or tomorrow?

Member: so many truthers saying it has started, it's like stand up sit down, get back up again.

MZ: Until one of us has spendable money…It’s hard to get excited.

Member: They've all cried wolf so many times on dates that I will believe it when I see it.

​​Member: My thoughts...RV on 8/8....8/8/2024 = 888 (2+2+4 =8).::but who knows

MZ: The prevailing rumor is that the Green light was set yesterday …and will go sometime between now and the 5th….We have heard these rumors so often I’m afraid to get excited about it.

Member: I wonder-  who is it that supposedly gave the Green light?

Member: Could be the Chinese elders…or the military….or the White hats…..or Iraq….or the Easter bunny…..who knows?

Member: Is Zimbabwe going to gold now that their gold ZIG is common now?

MZ: They are pretty common now and being used in daily transactions. As they mine more gold…more are put more ZIG into circulation and take more US dollars out of circulation. .

Member: If you take a moment and look around you will see just about no country wants to use the USA Fiat Dollar any more. About only spendable in the USA

Member: Still waiting to see bad guys arrested , and justice served…where is the military ?  Where are the white hats?

Member: Who knew there were so many bad guys running the world. So very tragic.

Meber: it's so sad that we live in a very sick world. Lots of prayers going out towards the world.

Member: Maybe 10 days of darkness is because we can’t pay electric bill.

Member: I do not think it will happen until after US elections and BRICS forces the world to go gold backed…..and that is many months away….

MZ: I still think it will happen sooner rather than later….

Member: BRICS new gold back currency- The UNIT and the new financial system will change the world…..

​​Member: We have to all stick together. WE WILL see each other through this. We have each other.

Member: Trying to keep thoughts positive…..Remember-Nothing, nothing, nothing….then SUDDENLY

Member: Have a blessed day everyone.   Maybe tomorrow there will be positive news!!

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

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

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

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

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

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

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

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

Youtube:     https://www.youtube.com/watch?v=Njq3yRqOZ7s

Economist’s “News and Views” Thursday 8-1-2024

U.S. Banks Report Unprecedented 23% Surge in Delinquencies As Losses Increase

Atlantis Report:  8-1-2024

The U.S. banking sector is currently facing challenges as it deals with a significant surge in delinquency rates, leading to mounting losses.

Recent reports have revealed a shocking 23% increase in delinquencies, causing concern for both banks and borrowers nationwide.

This sharp rise in borrowers falling behind on their payments has increased bank losses, impacting their profitability and stability.

https://www.youtube.com/watch?v=4-ro9iJPJ3k

Jim Willie: ¨Rate Cuts & BRICS 'Unit' Will Drive Gold Higher¨

Arcadia Economics:  8-1-2024

In the midst of a chaotic election season, a Fed meeting, and more progress by the BRICS on their 40% gold backed 'Unit,' who better to check in with than Dr. Jim Willie.

Jim talks about the the policies that Trump is going to implement if elected, how that will affect the gold market, and the latest he's hearing about the BRICS plan for their 'Unit' payment currency.

Especially at such a volatile time in the financial and political markets, you'll want to hear the latest from Jim. So click to watch the video now!

https://www.youtube.com/watch?v=9JGuBsC8C5U

BRICS Trade 23.9% UP Amid US and EU Decline: What next?

Fastepo:  8-1-2024

The growth of trade volume between China and BRICS member states has seen a remarkable upward trajectory, significantly reshaping global trade dynamics.

 In 2022, trade between China and the BRICS countries reached unprecedented levels, reflecting robust economic partnerships and strategic collaborations. China’s trade with the existing BRICS nations has been characterized by substantial increases across various sectors.

For instance, trade with Russia alone hit $190 billion in 2022, while bilateral trade with Brazil reached $165.6 billion. Trade with India and South Africa also showed significant growth, indicating deepening economic ties despite political and geographical challenges.

 Collectively, China’s trade with BRICS members totaled 2.38 trillion yuan (about $325.7 billion), up 19.1% year-on-year. Exports reached 1.23 trillion yuan, up 23.9%, while imports were 1.15 trillion yuan, up 14.3%.

 The inclusion of new BRICS members, each bringing unique economic strengths, is expected to further diversify and expand trade volumes.

Saudi Arabia and the UAE, as major oil producers, will enhance energy trade. Ethiopia and Egypt will add to Africa’s representation, potentially increasing infrastructure investments and economic development projects across the continent.

Conversely, trade between China and Western economies has shown signs of decline. In the first half of 2023, trade between China and the EU fell for the first time in four years, reflecting increasing geopolitical tensions and economic sanctions.

 Similarly, trade with the United States experienced a downturn, with bilateral trade declining by 11.6% in 2022 compared to the previous year. These declines highlight the shifting trade dynamics as China pivots towards stronger economic relationships with BRICS countries and other emerging markets.

 In this video, we delve into the transformative shift in global trade patterns, moving away from the traditional East-West axis towards a burgeoning South-South framework.

This emerging trend is reshaping not only trade routes but also the broader global order. The increasing trade and economic cooperation between countries in the Global South is heralding a new era of geopolitical influence, challenging the longstanding dominance of Western powers.

This shift signifies a profound change in the global economic landscape, with significant implications for international relations and economic policies worldwide

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