6 Mistakes People Make at the Bank During a Recession

I’m a Banking Expert: 6 Mistakes People Make at the Bank During a Recession

J. Arky  Tue, August 13, 2024   GOBankingRates

Economic ups and downs still have lots of people worried about a potential recession. During times of downturn, many people become hyper-focused on the markets, jobs and their own personal finances tied up in banks.

While there might be some desire to move money around or take it out of financial institutions altogether, that could actually end up doing more harm than good on both a macro and micro level.

GOBankingRates reached out to banking experts to understand the six mistakes that people make at the bank during a recession. Here is what we found out below, and you can also check out why a recession is worse for your wallet than inflation.

Failing To Review Your Financial Goals

Just because there is a recession does not mean you don’t have financial goals, nor any way of working on achieving them. Do not lose sight of your future when it comes to your money.

“One of the most common yet frequently overlooked mistakes during a recession is not re-evaluating your financial goals,” said Adam Garcia, founder of The Stock Dork. “Most people will carry on saving, spending as well as investing just like they were used to before the economy went down.”

He continued, “However, it is better to be cautious in times like these. Review your financial plan by focusing on liquidity and debt reduction rather than aggressive growth or luxury purchases if possible. This should ensure you are grounded and do not go through tough times when sources of income become unpredictable.”

Not Having a Safety Net for Your Account

Running your account into the red can be dangerous, particularly during a recession.

“Overdrafting an account might seem like a small error, but during a recession it can have severe consequences,” Garcia explained. “If you overdraw often enough, those fees add up quickly and may hurt your credit score thus making it hard for you to get loans or credit cards when they would be most useful to you.

“To avoid this scenario, consider putting aside a small emergency cushion in checking or linking it to a savings account for automatic transfer purposes. In case of overdrawing, call your bank immediately so that you could tell them what landed you in such a position. Many banks offer courtesy fee waivers if it’s a rare occurrence or due to an exceptional circumstance,” suggested Garcia.

Failing To Recognize Interest Rate Changes

During times of economic turmoil, interest rates can change. If you have a loan or credit card connected to your bank, not taking note of these fluctuations can put you in dire financial straits.

“Central banks usually adjust interest rates during recessions leading to fluctuations that affect savings and loan repayments directly. Therefore, one of the mistakes that people make is not paying attention to these changes,” Garcia said.

“If interest rates drop, it might be an excellent opportunity to refinance high-interest loans or mortgages,” he added. “Conversely, if you notice interest rates rising, you should consider locking in lower rates for savings accounts or certificates of deposit (CDs). Taking the initiative regarding interest rates can save you a lot in the long run.”

Stopping Automatic Payments

Money tends to become tight during a recession, but nevertheless, there are bills to pay. If you have automatic payments turned off, consider turning them back on again.

To Read More:  https://www.yahoo.com/finance/news/m-banking-expert-6-mistakes-143116946.html

News, Rumors and Opinions Thursday AM 8-15-2024

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 Thurs. 15 Aug. 2024

Compiled Thurs. 15 Aug. 2024 12:01 am EST by Judy Byington

Wed. 14 Aug. 2024 Possible Timing, David Wilcock

There will be a EBS message sent over phones, TV and radio around the Globe saying that in the next five hours or so, everyone needed to be home for a global lockdown that would last 10 to 12 days.

NESARA will be announced to the world, which will show that EVERYTHING NEW is beginning.

Then through the EBS, they will show documentaries of everything that has happened to wake up the masses.

At the end of the 12 days, they will give out an 800 number for individuals to call to obtain an appointment to set up your Quantum money account on the new Starlink Satellite System.

There were 75 Deep State Banks that were seized and all assets and accounts closed. All the Cabal’s Central Banks have been taken over, with assets entered into the Quantum Financial System (QFS).

The QFS is run on Blockchain where nothing fraudulent can happen because everything is traceable. They can see where all money goes, which stops corruption in its tracks.

Apparently all people have a sum of money in an individual Quantum Financial Account.

The seized assets of the Cabal were moved to those Quantum Financial Accounts of The People. All monies in trust funds were moved to individual QFS accounts. All our bank accounts, savings accounts and retirement accounts were safe in the new Quantum System.

The only monies not reflected in individual Quantum Accounts were investments and shares on the Stock Market. All that will be gone! It is advised to get out of the Stock Market immediately.

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Global Currency Reset:

Judy Note: It is my personal opinion, and I could very easily be wrong, that Tier4b (us, the Internet Group) will be notified to set redemption/exchange appointments sometime after Project Odin and the Military takeover begins on Mon. 19 Aug. 2024.

Wed. 14 Aug. Wolverine: “Things are happening that are confidential and I cannot discuss, but I hope to have absolutely great news for you tomorrow.”

Wed. 14 Aug. MarkZ: “Not only were the Pickford claims (black farmers) being paid out, but also the other Farm Claims have started paying out – in the billions, along with the R&R payouts” (which were assumed to be going into our QFS Accounts).

Tues. 13 Aug. 2024 Bruce: Farm claims began with black farmers being paid out on Thurs. 8 Aug. Tier4b (Us, the Internet Group)was in a seven day window to receive notification to set redemption/ exchange appointments that ran from Wed. 14 Aug. to Wed. 21 Aug, with exchange appointments to start on Mon. 19 Aug. Debt forgiveness reimbursement that zeroed out mortgages started Sun. 11 Aug. and ended Sat. 24 Aug., with credit cards wiped out of debt by Sat. 31 Aug.

Tues. 13 Aug. 2024 Mike Bara: “I have been given a date of Wed. 21 Aug. for the revaluation of the Iraqi dinar. The bond holder remains excited about the possibility he will get paid today.”

Tues. 13 Aug. “A Banker indicated that many positive items are pointing to Thurs. 15 Aug. 2024.”

Tues. 13 Aug. 2024: RV/GCR and EBS Disclosure: The Global Financial Armageddon and the Collapse of Nine Nations – The Impending EBS Disclosure and Market Crash – amg-news.com – American Media Group

Tues. 13 Aug. 2024 BRICS Destroying US Monetary System, Leading World to Gold: https://rumble.com/v5atid8-brics-is-destroying-the-u.s.-monetary-system-and-leading-the-world-to-gold.html

Read full post here:  https://dinarchronicles.com/2024/08/15/restored-republic-via-a-gcr-update-as-of-august-15-2024/

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

Bruce  [via WiserNow]  ...from the latest info that we received last night was that that we are in basically a seven day window...we got it last night that said Wednesday to Wednesday...we've also heard from another call...that was with the financial advisors, bankers and so on, that there was a consensus...that we would be notified over the weekend and then start exchanges on Monday. So the 19th...Let’s Hope that is true... This thing is right here, right there, where we can go anytime, yes, and we'll see if the Wednesday  window holds up, or if we get surprised, and maybe it goes soon...

SkyWalker  There seems to be some confusion...when it comes to the delete the zeros program. Value of the Iraqi dinar starts in country by government policies, CBI reserves, oil production, investments by the Iraqi government, output of the economy, and so on. Value is currently represented by the three zeros printed on the currency. An exchange is a ratio of two currencies which is used outside the borders of a country. Therefore, when value is added to the Iraqi dinar first by the CBI in country the three zero notes will be physically removed from circulation. In their place the CBI will release the lower notes with added value...Lastly, the exchange rate of the Iraqi dinar compared to other currencies will reflect the added value to the Iraqi dinar. So, it is not about the zeros coming off the exchange but the three zero notes being no longer used...

US Sanctions on Iraq! Is This Why the IQD RV Has NOT Happened?

Edu Matrix:  8-15-2024

US Sanctions on Iraq! Is This Why the IQD RV Has NOT Happened? We don't believe sanctions have anything to do with the delay in the IQD. However, we could be wrong.

https://www.youtube.com/watch?v=_rESeAV0gfY

BRICS Gold Rush & Election: Precious Metal Shortages Ahead | Andy Schectman

Liberty and Finance:  8-14-2024

Andy Schectman, president and CEO of Miles Franklin, examines the implications of the BRICS nations' growing interest in gold and how it might impact the precious metals market.

 He notes that the BRICS countries are increasingly investing in gold as a hedge against dollar devaluation, which could signal a shift toward a more gold-centric financial system.

INTERVIEW TIMELINE:

0:00 Intro

2:00 Risks to the US grid

10:46 Precious metals fundamentals

15:33 Financial risks

https://www.youtube.com/watch?v=JyRzL6ADXCg

“Tidbits From TNT” Thursday Morning 8-15-2024

TNT:

Tishwash:  With an increase in recent months.. Iraq's internal debt exceeds 78 trillion dinars - Urgent

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that Iraq's internal debt exceeds 78 trillion dinars, with an increase in recent months.

Saleh said in a statement to (Al-Rabia) that "Iraq's move towards borrowing from the domestic banking market to finance two waves of the general budget deficit came under the influence of the decline in the oil assets cycle and in two different periods during the current decade. The first wave of borrowing, which amounted to nearly 27 trillion dinars, was financed by the government banking system through purchasing treasury transfers during the intensification of the security crisis (the entry of the terrorist ISIS) between the years 2014-2017."

He added that "the International Monetary Fund estimated at that time the current account deficit gap of the balance of payments due to the decline in oil prices to be no less than 18 billion dollars cumulatively during those years, and the second wave occurred between the years 2020 and 2021, that is, during the health crisis with the spread of Corona and the closure of the global economy, which was accompanied by a decline in oil prices and a decline in budget revenues and the loss of more than 40% of the value of the oil barrel

While the legislation of the general budget law for the fiscal year 2020 was absent and was replaced by three legislations to finance the deficit, two of which were for direct domestic borrowing and two separate laws issued by the House of Representatives, that by heading towards the domestic borrowing market and the other is the Food Security and Development Law, and an important aspect of it was based on domestic borrowing as well, which raised the level of domestic debt to exceed the barrier of 78 trillion dinars."  link

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Harambe:  Telegram: A major cyberattack has targeted the Central Bank of Iran (CBI) and several other banks …

Telegram Link

A major cyberattack has targeted the Central Bank of Iran (CBI) and several other banks, leading to widespread disruptions in the country’s banking system. Initial assessments indicate this could be one of the largest cyberattacks ever against Iranian state infrastructure.

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Harambe:  Cyberattack targets Central Bank of Iran 

#BREAKING A major cyberattack has targeted the Central Bank of Iran (CBI) and several other banks, leading to widespread disruptions in the country’s banking system, @IranIntl has learned. Initial assessments indicate this could be one of the largest cyberattacks ever against… Show more

https://m.jpost.com/breaking-news/article-814715

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Masoud Barzani calls for national wealth and wants to preserve it, but what is the story of the “committees of commitment”?

Today, Wednesday (August 14, 2024), the leader of the Coordination Framework, Saad Al-Saadi, revealed the results of the agreement between the framework and the leader of the Kurdistan Democratic Party, Masoud Barzani, regarding the oil smuggling file.

Al-Saadi told Baghdad Today, "Smuggling natural resources, including oil, in any country represents a drain on the economy, destruction of infrastructure, and loss of the rights of the people of all stripes. Therefore, the smuggling file must be stopped." 

He added, "During the visit of the President of the Kurdistan Democratic Party, Masoud Barzani, to the capital, Baghdad, and his meeting with the leaders of the framework, the issue of natural resources was actually raised within a broad agreement to preserve them as a national wealth."

He continued: "It was agreed to form committees whose mission is to oblige all parties to abide by the decisions of the Federal Court on the oil and gas file, in addition to the rest of the other agreements with Baghdad," adding: "We hope at the same time that there will be seriousness and credibility on the part of our brothers in the region in implementing the terms of the agreement." 

He pointed out that "the management of oil and other wealth by the central government and its institutions is within the context of the Iraqi constitution, and this will must be respected and adhered to because it will address many problems and provide greater protection for the national wealth."

The visit of the leader of the Kurdistan Democratic Party, Massoud Barzani, to Baghdad attracted attention because it came after six years of "estrangement" with the ruling political class in Iraq, which suggests that a remarkable development has occurred in the relationship between the Kurdistan Region and the central government.

Political circles believe that the aim of the visit is to crown the partial understandings that occurred recently and covered several files with a comprehensive settlement between the region and the centre.

Barzani's presence as a prominent Kurdish figure aims to lend legitimacy to the settlement and raise its value so that it appears to be an important event and not just a passing meeting, which is what the central government needs to confirm its ability to bring the region's leaders to its square, while the settlement reduces internal pressures on the region's officials, especially if he succeeds in ensuring smooth and continuous payment of salaries.  link

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Tishwash:  Parliamentary Finance Committee discusses with US Embassy the financial and banking system and the lack of dollars in the market

The Parliamentary Finance Committee confirmed, today, Tuesday, discussing the financial and banking system and the lack of the dollar in the Iraqi market with a delegation from the US Embassy in Baghdad.

A statement by the Parliament's media department received by / Today's News / stated that "the head of the Parliamentary Finance Committee, Atwan Al-Atwani, received at the committee headquarters, in the presence of Representative Khalil Al-Dawski, today, Wednesday, a delegation from the US Embassy in Baghdad, Minister Counselor for Economic and Trade Affairs Julie Jules, Deputy Counselor for Economic and Trade Affairs Angel Fintling, Macroeconomic Officer, Economic and Financial Section Michael Pinnell, and Economic Assistant/Economic Section, to discuss the financial and banking system in the country, Ammar Al-Ammar."

The statement continued, "The meeting discussed the financial and economic situation in the country and the repercussions of the parallel market issue and its negative impact on the government economically, in addition to the lack of the dollar currency in the market, and the sanctions imposed on some banks, as well as the issue of the electronic platform for exporting the currency."

The head of the committee stressed "the importance of high coordination between the two sides in order to solve the pending financial problems, in addition to the importance of transparent dealing to benefit from the capabilities, and not resorting to dealing in another currency," noting "the need to create an atmosphere of understanding and invest in building bilateral relations on this basis."

Al-Atwani stressed "the committee's keenness to commit to combating financial corruption and confronting money laundering, as they are the basis for building societies, in addition to coordination in order to make correct decisions in this regard."

For her part, the Minister Advisor for Economic and Trade Affairs said that "there is a real opportunity for cooperation and reform of the economic and financial system between the two sides," stressing "working together to find appropriate solutions to all problems for the stability of Iraq as a basic ally of the United States."

The statement noted "providing clarification on the three-year general budget and plans for banking regulation and reform of the spending process, and how to finance projects, in addition to the importance of supporting the private sector and involving it with the public sector, which confirms the importance of investing the revenues achieved and the possibility of providing the service."
According to the statement, Al-Atwani pointed out the "ambition to legislate a law on partnership between the public and private sectors and involve the private sector in the market, in addition to working to amend the tax law and shift from the paper system to the electronic system."  link

Mot: . All Too Soooon 

Mot:  Just Letting Yous Know!!!! 

Iraq Economic News and Points To Ponder Wednesday Evening 8-14-24

Parliamentary Finance Committee Discusses With US Embassy The Financial And Banking System And The Lack Of Dollars In The Market

Local | 06:19 - 08/14/2024  Mawazine News – Baghdad  The Parliamentary Finance Committee confirmed, on Tuesday, discussing the financial and banking system and the lack of the dollar in the Iraqi market with a delegation from the US Embassy in Baghdad.

A statement by the Parliament's media department received by Mawazine News stated that "the head of the Parliamentary Finance Committee, Atwan Al-Atwani, received at the committee headquarters, in the presence of Representative Khalil Al-Dawski, today, Wednesday, a delegation from the US Embassy in Baghdad, Minister Counselor for Economic and Trade Affairs Julie Jules, Deputy Counselor for Economic and Trade Affairs Angel Fintling, Macroeconomic Officer, Economic and Financial Section Michael Pinnell, and Economic Assistant/Economic Section, to discuss the financial and banking system in the country, Ammar Al-Ammar."

The statement continued, "The meeting discussed the financial and economic situation in the country and the repercussions of the parallel market issue and its negative impact on the government economically, in addition to the lack of the dollar currency in the market, and the sanctions imposed on some banks, as well as the issue of the electronic platform for exporting the currency.

The head of the committee stressed "the importance of high coordination between the two sides in order to solve the pending financial problems, in addition to the importance of transparent dealing to benefit from the capabilities, and not resorting to dealing in another currency," noting "the need to create an atmosphere of understanding and invest in building bilateral relations on this basis."

Al-Atwani stressed "the committee's keenness to commit to combating financial corruption and confronting money laundering, as they are the basis for building societies, in addition to coordination in order to make correct decisions in this regard."

For her part, the Minister Advisor for Economic and Trade Affairs said that "there is a real opportunity for cooperation and reform of the economic and financial system between the two sides," stressing "working together to find appropriate solutions to all problems for the stability of Iraq as a basic ally of the United States."

The statement noted "providing clarification on the three-year general budget and plans for banking regulation and reform of the spending process, and how to finance projects, in addition to the importance of supporting the private sector and involving it with the public sector, which confirms the importance of investing the revenues achieved and the possibility of providing the service."

According to the statement, Al-Atwani pointed out the "ambition to legislate a law on partnership between the public and private sectors and involve the private sector in the market, in addition to working to amend the tax law and shift from the paper system to the electronic system." https://www.mawazin.net/Details.aspx?jimare=253273

Banks Are Working To Keep The Exchange Rate High.. The Secrets Of The Dollar Crisis Against The Dinar

Buratha News Agency142 2024-08-13  Economic expert Omar Al-Halbousi confirmed that the crisis of the dinar exchange rate against the US dollar is due to many factors.

Al-Halbousi said in a press statement: “It is well known that the rise in the dollar exchange rate and the decline in the value of the Iraqi dinar have been ongoing for more than two years, and here we confirm that the value of the dollar is stable, but the value of the Iraqi dinar fluctuates between rise and fall, and most of the time it is a fall.”

He continued, "The rise and fall of the Iraqi dinar exchange rate against the dollar from time to time is due to several reasons, including the continuation of trade with the sanctioned countries, which requires financing from outside the platform by relying on the parallel market, which is the real controller of the exchange rate.

Until now, the Central Bank has no authority over it," noting that "there are countries that live on the dollar in Iraq in the absence of the role of the Central Bank to regulate the exchange rate and stop the currency bleeding, with the penetration of these countries through private banks that dominate the currency selling window."

He explained that "private banks also push for the exchange rate to remain high, as it benefits them. They have exploited the law of delivering dollar remittances to individuals and companies coming from abroad and delivering them to their owners in Iraqi dinars and at the official price, and then they sell the dollar at the parallel market price, which increases their profits.

Therefore, they are a stumbling block to the stability of the exchange rate and stopping the bleeding of the value of the Iraqi dinar."

He explained that "remittances and the currency sales window are monopolized by a few banks that control the exchange rate and manipulate it as they wish, which explains their achievement of imaginary profits from dollar remittances, which has begun to drain Iraqi oil revenues that finance the window, knowing that the volume of daily dollar sales is very suspicious and contradicts the volume of goods entering, which means the continued smuggling of dollars abroad, carried out by the banks controlling the window and remittances and with international collusion,

" noting that "the American sanctions and the continued threat of them are another reason for the continued decline in the value of the Iraqi dinar against the dollar with the inability of the Central Bank to solve the problem of sanctions with the American side,

as well as the inability to control the work of banks and control their fraudulent work that has caused Iraq problems with the Americans, in light of the continued smuggling of dollars in various ways practiced by banks owned by foreign countries."

The economic expert pointed out that "the government is still counting on the Central Bank and its management to control the exchange rate, which the Central Bank has not succeeded in, but rather has failed in all its steps with the arrogance of private banks and their control over the Central Bank with external support,

in addition to the influence of these banks within the Central Bank, which means that until now it has not found a solution to stop the decline in the value of the Iraqi dinar against the dollar, which will lead us into major problems in the coming days, especially if new American sanctions are imposed on Iraq,

 in addition to the rise in the geopolitical conflict in the region that casts its shadow on Iraq in a multi-faceted manner."   https://burathanews.com/arabic/economic/449618

Oil Prices Rise Amid Expectations Of A Decline In US Crude Inventories

Economy  08/14/2024  Mawazine News – Baghdad  Oil prices rose on expectations of a decline in US crude and gasoline inventories, as the market monitored the possibility of widening tensions in the Middle East that could limit global oil supplies.

Brent crude futures rose 30 cents on Wednesday (August 14, 2024) to $80.99 a barrel, while US West Texas Intermediate (WTI) crude futures rose 38 cents to $78.73.

Market sources, citing data from the American Petroleum Institute (API) on Tuesday, expected US crude and gasoline stocks to fall last week and distillate inventories to rise.

The API figures showed crude inventories fell by 5.21 million barrels in the week to Aug. 9, the sources said, speaking on condition of anonymity.

Gasoline stocks fell by 3.69 million barrels and distillate inventories rose by 612,000 barrels.

The lower inventories could signal stronger demand in the United States, the world’s biggest oil consumer. Official government data from the Energy Information Administration is due later on Wednesday.

Markets are awaiting clues on Iran’s next steps after it vowed a harsh response to the assassination of Hamas leader Ismail Haniyeh late last month in Tehran, which it accused Israel of carrying out the assassination. The

US Navy has also deployed warships and a submarine to the Middle East to bolster Israel’s defences.

Analysts have warned that a widening conflict in the region could affect crude supplies from Iran and neighbouring producers, reducing inventories and supporting prices.

Meanwhile, the International Energy Agency left its forecast for global oil demand growth in 2024 unchanged on Tuesday, but trimmed its estimate for 2025, citing the impact of a weak Chinese economy on consumption, which has further limited price gains. https://www.mawazin.net/Details.aspx?jimare=253228

The Central Bank Sponsors A Meeting To Establish A National Company To Manage Electronic Payment In Iraq

Banks  Economy News – Baghdad  The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, chaired the first preparatory meeting to establish a national company to manage central electronic payment systems in Iraq.

The Central Bank's media office stated in a statement received by "Al-Eqtisad News" that "the meeting discussed the importance of regulating electronic payment operations, keeping pace with rapid technological developments, and creating a competitive payment industry that provides safe, reliable, easy-to-access, widely interoperable payment services, and rapid response and high flexibility to technical and regulatory changes."

The meeting reviewed the company’s “main objectives and special requirements for initiating the establishment, as it will undertake the tasks of managing, operating and developing some of the central and basic electronic payment systems at the national level.”

The statement indicated that, "This step came in line with the strategic plan of this bank, which goes hand in hand with the government program in the field of electronic payment and its development in Iraq."  270 views  Added 2024/08/14 -https://economy-news.net/content.php?id=46300

Nearly 200 Billion Dinars In "Fines" From The Central Bank Of Iraq On Banks And Exchange Companies

Economy  | - 08/13/2024  Mawazine News – Baghdad  The Central Bank of Iraq announced on Tuesday that fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 181 billion Iraqi dinars during the past six months.

A table from the bank showed that "the fines imposed on banks and financial companies during the past six months, starting from January until the end of last June, amounted to 181 billion, 842 million, 854 thousand, and 458 dinars," indicating that "the fines also included 151 administrative penalties for these banks and non-banking institutions, distributed between warnings, alerts, and grace periods."

The table showed that "January witnessed the highest fines on banks and non-financial institutions, as these fines reached 98 billion, 277 million, 722 thousand, and 62 dinars, with 17 administrative penalties, while June witnessed the lowest fines, reaching 2 billion, 829 million, 157 thousand, and 288 dinars, with 30 administrative penalties."

The table did not show the names of the banks that were fined and the administrative penalties.

The Investors Association in the Iraq Stock Exchange had criticized the Central Bank of Iraq for increasing fines on banks, indicating that it would affect the profitability of investors in the shares of these banks.

https://www.mawazin.net/Details.aspx?jimare=253179

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

How Much Cash Should I Have On Hand?

How Much Cash Should I Have On Hand?  It Might Be Less Than You Think

Ivana Pino ·Senior Writer  Tue, August 13,  Yahoo Personal Finance

According to an analysis by Capital One, 47.8% of American adults make no cash purchases in a typical week. And in the U.S., an estimated 87.4% of all transactions are cashless.

With card and digital payments emerging as the primary payment methods for most consumers, you might wonder how much cash you should keep in your wallet — if any at all.

Here’s a look at the benefits and drawbacks of carrying cash, and how to go about deciding how much you should keep on hand.

How Much Cash Should I Have On Hand?

Cash may no longer be king, but it’s not obsolete by any means. There are instances when paying in cash might be more beneficial than using a debit card, credit card, or digital wallet. For instance, many small businesses prefer cash and may even offer a small discount because it saves them the fees associated with credit card transactions.

Experts say it’s common for most Americans to carry $20 or $30 in cash. Ultimately, however, the amount of cash you should have on hand depends on your unique financial situation.

When determining the right amount to carry in your wallet, consider how often you use cash and for what types of expenses. Do you prefer to save up cash for big-ticket purchases, or do you mainly rely on cash for smaller transactions such as tipping?

Either way, it’s best to minimize the amount of cash you keep on hand. For one, cash isn’t insured against loss unless it's deposited in a bank, making it vulnerable to damage, loss, or theft. Plus, physical cash doesn’t have the opportunity to earn interest or grow in value. And over time, inflation reduces the purchasing power of cash.

That said, you do want to ensure your spending money and emergency savings are “liquid.” For money that you expect to need in the near future, consider depositing it in a federally insured bank account, such as a checking account or high-yield savings account. This allows you to generate interest, which helps protect your purchasing power and increase your wealth over time, while also maintaining easy access to the funds.

Pros And Cons Of Carrying Cash

Having some cash in your wallet can be helpful when you find yourself in a situation where a merchant or retailer doesn’t accept cards or digital payments. But there are definitely downsides to carrying cash too.

Here are some of the major pros and cons of cash to consider when evaluating how much you should keep on hand.

To Read More:  https://www.yahoo.com/finance/personal-finance/how-much-cash-should-i-have-on-hand-164855098.html

MilitiaMan: IQD Update - Iraq Dinar News - Central Bank - Corruption - Automation - Change is coming

IQD Update - Iraq Dinar News - Central Bank - Corruption - Automation - Change is coming

MilitiaMan and Crew:  8-14-2024

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=k7yH1SKtou4

FRANK26….8-14-24……IT WON’T STOP

KTFA

Wednesday  Night Conference Call

FRANK26….8-14-24……IT WON’T STOP

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

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

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

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

https://www.youtube.com/watch?v=8mHcpwKHfsY

Economist’s “News and Views” Wednesday 8-14-2024

US Debt Collapse Will Destroy Dollar | Craig Hemke

Liberty and Finance:  8-13-2024

Craig Hemke emphasizes the growing national debt, noting a recent $243.7 billion deficit in July alone and a projected $1.9 trillion deficit for the fiscal year.

 He highlights the risk of worsening inflation due to increasing debt and monetary policies. Hemke recommends precious metals, such as gold, as a reliable hedge against these financial pressures and inflation. He stresses that owning physical gold can preserve purchasing power and provide safety amid rising debt and economic uncertainty.

INTERVIEW TIMELINE:

0:00 Intro

1:40 Gold update

 4:03 COT Report

 6:20 Silver update

9:51 Acquisitions

 13:19 Recession concerns

16:46 Keynsian experiment

https://www.youtube.com/watch?v=_LxuoOe4LgQ

The Yield Curve is Un-Inverting (Stocks Crash Every Time)

Heresy Financial:  8-14-2024

TIMECODES

0:00 Intro

0:34 the Yield Curve is Currently Inverted

 1:51 This Typically Indicates a Recession

4:13 There's 2 Types of UnInverting Yield Curves

6:38 Looking at All Treasury Bonds

8:24 Bull vs Bear Steepener

12:26 How Yield Curves Correlate to Stocks

 14:58 It Pays to Be Prepared

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

Matter Of Time Bubble Implodes; What The Next Financial Crisis Looks Like | Diego Parrilla

David Lin:  8-14-2024

Diego Parrilla, CIO of Quadriga Asset Managers, discusses how governments respond to crises, and the "anti-bubble" assets that would counteract the downside risks of the next financial bubble implosion.

0:00 - Intro

0:45 - Is the market top in?

2:35 - Recession risks

5:20 - Liquidity

8:15 - Fed rate cut

12:00 – Inflation

 19:25 - Money velocity

20:35 - Dollar strength

25:11 - Bubble and anti-bubbles

https://www.youtube.com/watch?v=Q1bMwbUDp9g

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 8-14-24

Good Afternoon Dinar Recaps,

NON-MARKET ECONOMY STATUS FOR VIETNAM:  'opportunities amid danger'

RECENTLY THE US COMMERCE DEPT REFUSED TO RECOGNIZE VIETNAM AS A "MARKET ECONOMY". THIS ARTICLE FROM A VIETNAMESE NEWSPAPER REVEALS THE REASONS BEHIND THIS STATUS

"The US Department of Commerce's decision to continue classifying Vietnam as a non-market economy was disappointing news. However, this gives Vietnam the chance to accelerate reform towards a market economy."

"This is the driving force for the Ministry of Industry and Trade (MOIT) to implement the commitment that it will research and analyze the US Department of Commerce’s (DOC) report about Vietnam’s economy, to supplement and complete arguments before submitting dossiers to DOC on granting market economy status, a step to concretize the Vietnam-US comprehensive strategic partnership."

"After doi moi (renovation), Vietnam has been consistent in carrying out a reform to turn the single-sectoral economy into multi-sectoral economy. The economy has been liberated from the state’s strict and rigid control, while people have freedom to trade and do business.

In addition, Vietnam has signed 16 new-generation FTAs (free trade agreements), becoming one of the most open economies in the world."

"Thanks to economic reform, Vietnam has become an example in hunger elimination and poverty reduction, with the hunger and poverty rate falling from nearly 60 percent in early 1990s to 3 percent now. Private domestic invested enterprises with official registrations have been growing steadfastly. "

"Vietnam has finished the underdevelopment period, becoming an average income country with a dynamic market economy which is integrating deeply into the global economy."

"There is no doubt that the reforms and considerable progress in recent years are why 73 economies have recognized Vietnam as a market economy."

"Economic Freedom of the World Index by Canadian Frazer Institute released late last year showed that Vietnam ranked 106th among 165 countries and territories. The position represented a four-grade promotion compared with the year before, a relatively big improvement compared with other regional countries."

"After 40 years of doi moi, Vietnam’s economy is still undergoing the transition with some shortcomings as follows:

1. First, the pricing mechanism of some products, such as petroleum, electricity, airfare and healthcare services still bears administrative intervention.

2. Second, the protection of ownership and property rights still cannot be carried out thoroughly. In some places, land is recovered by the state at non-market prices.

3. Third, the state-owned economic sector still accounts for a large proportion of the national economy.

"A report of the World Bank shows that the state still participates in many economic activities through SOEs, while the land and capital allocation bear the impact of administrative commands rather than market conditions."

Costa Rica recognizes Vietnam as market economy

@ Newshounds News™

Source:  Vietnam Net

~~~~~~~~~

INDIA's CENTRAL BANK: the impact of tokenized deposits, CBDC on deposit insurance

Yesterday during a speech, Reserve Bank of India (RBI) Deputy Governor MD Patra discussed how tokenized deposits and central bank digital currency (CBDC) might impact deposit insurance.

Tokenized deposits are a digital version of bank deposits using blockchain infrastructure to process programmable payments 24/7. In a digital world, they compete with stablecoins and CBDCs, although the design is quite different.

From a deposit insurance perspective, most tokenized deposit infrastructures aim to maintain the same deposit insurance coverage as a conventional bank deposit. However, Mr Patra noted that tokenization potentially can amplify bank runs in times of stress.

Hence, the risks posed by tokenized deposits need to be modelled to determine the insurance fund size and premium rates.

If there’s a bank failure, compensating clients might be less straightforward. “With different banks using different technologies there’s also the possibility that tokenised deposits could be held by depositors who are not KYC compliant and not clients of issuing banks,” said Mar Patra. “Consequently, verification of the authenticity and genuineness of claims may prove to be a testing challenge.”

Like the United States, India has a recent history of failing banks. In 2020 YES Bank started experiencing a run and the central bank took it over for a while. It restructured the bank with several other Indian banks taking equity stakes. Subsequently, YES Bank raised additional capital and is still operational today.

CBDC impact on deposit insurance
In an economy with a retail CBDC, if a bank fails, those with uninsured deposits will quickly try to transfer the money elsewhere. 

The advantage of a CBDC its low risk because it is the liability of the central bank. On the one hand, depositors could just transfer the money to another commercial bank. Alternatively, they could switch to a CBDC.

Hence, the Deputy Governor observed that “particularly uninsured deposits, (would be) more prone to withdrawal and hence the risk of bank runs. Given the inherent links between such systems and the objectives and operations of deposit insurers, it is expected that the topic of CBDC will continue to grow in relevance for deposit insurers.”

In other words, if CBDCs encourage bank runs, that makes a bank more likely to fail and hence there’s a higher probability of drawing down the insurance fund.

“The impact of CBDC on deposits and hence deposit insurance is largely unknown as of today,” said Mr Patra. “The operating models and design features of each individual jurisdiction’s CBDC will be a crucial factor in expanding our understanding of the balance of risks.”

@ Newshounds News™

Source:  Ledger Insights

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Canada needs to overhaul crypto regulations — Coinbase exec

The Canadian government has previously come under fire for undermining the economic freedom of its citizens and freezing crypto donations.

Coinbase country director for Canada Lucas Matheson took the stage at the Blockchain Futurist Conference on Aug. 13 to discuss the state of Canadian digital asset regulation and promote the newly expanded Stand With Crypto initiative.

Matheson argued that although Canada’s regulatory framework is already robust, the country still needs to modernize crypto regulation.

The director noted that 85% of countries will be adopting comprehensive regulatory frameworks for digital assets over the next year and urged the importance of public dialogue in educating public officials about the importance of cryptocurrencies. Coinbase’s Canadian director summed up the long-term goal for Stand With Crypto’s advocacy:

“Canada frankly has a lot of work to do to change laws, and the goal is to change laws in Canada so that we can increase economic freedom and update the financial system in Canada.”

Matheson concluded his presentation by directing audience members to sign up for the advocacy group.

Coinbase launches Stand With Crypto in Canada

Coinbase launched the Stand With Crypto initiative in Canada in July of 2024, following the success of the political advocacy group in the United States.

When the advocacy group launched, Matheson said that Canadian regulators tended to be much more cooperative with the industry than American regulators but noted that input from elected politicians was lacking.

Binance cited changes in stablecoin policy and investor limits outlined in the 2023 regulation as the main drivers for the company’s exit from the country.

@ Newshounds News™

Source:  Coin Telegraph

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BRICS should focus on creating seamless economic environment — Indian expert

Apart from economic integration, BRICS should also address "critical global challenges with a collaborative and proactive approach," Vice Chairman of BRICS Chamber of Commerce and Industry Sameep Shastri said

NEW DELHI, August 14. /TASS/. BRICS nations should focus on creating a seamless economic environment to expand trade, industrial and investment cooperation, Vice Chairman of BRICS Chamber of Commerce and Industry Sameep Shastri told TASS when commenting on the upcoming meeting of BRICS industry ministers in Russia’s Nizhny Novgorod on August 16.

"The BRICS ministerial meeting is an invaluable opportunity to strengthen the bonds between our member nations further and address key global challenges with a unified approach," he said. "We must focus on creating a seamless economic environment that fosters growth and innovation. 

This might involve harmonizing trade policies, facilitating cross-border investments, and addressing any trade imbalances that may exist," Shastri added.

Technological disparities among BRICS nations can hinder collaborative progress, the expert noted. "The meeting should address ways to bridge these gaps through joint research initiatives, technology transfer, and innovation partnerships.

Prioritizing advancements in fields such as artificial intelligence, cybersecurity, and clean technologies will be critical," he said.

Apart from economic integration, BRICS should also address "critical global challenges with a collaborative and proactive approach," the expert said. "BRICS needs to lead by example in setting ambitious sustainability targets and implementing actionable plans.

The meeting should also focus on strengthening global health systems ensuring that we are better prepared for future public health crises," he said.

Shastri believes that peace and security should be central to BRICS discussions. "With rising geopolitical tensions and the persistent threat of terrorism, BRICS must work collaboratively to develop strategies that promote global stability.

This includes enhancing counterterrorism efforts, supporting peacekeeping missions, and fostering diplomatic dialogue to resolve conflicts," he stressed.

@ Newshounds News™

Source:  TASS

~~~~~~~~~

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Thank you Dinar Recaps

Bruce’s Big Call Dinar Intel Tuesday Night 8-13-24

Bruce’s Big Call Dinar Intel Tuesday Night 8-13-24

Transcribed By WiserNow Emailed To Recaps

Music, welcome everybody the big call. It is Tuesday, August the 13th, and you're listening to the big call. Thanks everybody out there in big call universe for tuning in, whether you're local inside the US or whether you're outside the continental US and on international soils. We welcome you and appreciate you, and thank you for coming in and listening   

Let's talk now. Thank you Bob, by the way, thank you Bob so much. That was great. Let's talk about, yeah, let's talk about the Intel. Let's see where we are now, guys, I know that my Intel has not been exactly accurate, because it changes every time you think we're there, you get something else that says we're not. And I'm sorry, because I hate bringing it out intel this not accurate or doesn't come to pass.

So I know this is a moving target. I know that things tend to change, but hopefully, one of these days, we'll get it right and we'll all be exchanging and we'll be happy.

So  from the latest info that we received last night was that that we are in basically a seven day window, and boy, I hear that. I go, Oh my gosh, that's too, long a window, too big. I don't want to be in a seven day window. And this is from CW, and we got it last night that said Wednesday to Wednesday.

We should get notified -  and start exchanging that's tomorrow, through which when it's tomorrow, 14th to the 21st in that range, we should be getting our numbers and getting exchanges started.

Well, today, there was a conference call between some of the pay masters, some of the higher up people at wells with the Central Bank of Iraq, the CBI, and this call was supposed to go two and a half hours, and it went five and a half hours, so it was long, and they were talking about techniques and exchange protocols for the banks.

Now I don't know if it affected redemption centers, is that specifically the banks will let it sit at that. They were referring to our banks here in the US, not banks in Iraq. So what's happened? What's to bring you up to speed --

What's happened recently is the currencies, the 19 currencies that were coming up on the screen at redemption centers and at banks were coming up with either partial meeting six currencies and then 12 of the 19. We finally got all 19 to come up, but then they were coming up with a slow blinking mode.

That's okay. They could make out the currencies, they could make out the rates, but they were blinking slowly, and that was as of yesterday. Now, the weird thing is that even though that was going on, one of the currencies dropped out. So instead of 19, we're seeing 18 currencies on the screens.

Anybody guess which currency was not was no longer on the screen? That’s right - our currency, the US N, The USD had gone away and the USN and replaced it, but the US N was off the screen temporarily. Now, why would that be? Would it be that they're getting ready to introduce the USN, or United States node, or United States new however you want to look at it, then it's referring to the United States Treasury note that is no longer a Federal Reserve note because the Fed is dead and the remnant revenue says absorbed into US Treasury a while back. Same thing's true with the IRS. It was absorbed the rent of it was absorbed into the US Treasury.

So what that is saying is that the USN would need to go back up on the screen and would need to have a rate attached to it, and we believe that once that occurs, that's a pretty good indicator that we're about ready to start

Now, I think that the USN, if I remember right, is part of NESARA.  Okay, let's talk about, I know I'm kinda  bouncing around here, but stay with me. What else is part of NESARA? That's right, debt forgiveness. Let's talk about that. It actually started Sunday afternoon, Sunday the 11th of August, okay?

And so it started with, you guys haven't heard me say this yet, because I got this between the last call and tonight. It started with, or it is starting with zeroing out of all mortgages - Oh, I'm hearing some amens out there.

I'm hearing some hallelujahs, because our mortgages are supposed to be zeroed out over a 10 day process that, if my math is right and you count the days out, the 11th, which is Sunday, should it should be terminated? by around - By around the 20th of this month,

We  don't know if that means we're going to get our letters by then from our lending institutions,  or the letters will follow this 10 day period - that I don't know yet -  probably find out after the call, but there's a 10 day period of debt forgiveness when mortgages will be zeroed out.

Now, there may be some stipulations to that that might prevent the very newest mortgage, but I don't even know that. I don't even know. Let's just go with mortgages will be zeroed out. That's a big help.

Now, what else, as far as debt forgiveness, did I hear somebody say, credit cards? Right, right You are Andrew. That starts around the 21st through the 31st which is the last day of August. That means all credit card debt will be wiped out. That's amazing. And don't everybody go and load up your credit cards right now. Don't even think about it.

But that is a real welcome thing. Those two things, that's mortgages and credit cards will be wiped out and zeroed out by the by the end of August, which is August 31 so that's going to be a real bonus for us. That's a huge, huge part of debt forgiveness for NESARA, kicking in and taking effect.

Now, we haven't heard of any debt forgiveness coming out yet. We don't have any evidence of it yet - at this time, but stay  tuned , maybe I will get some of that. We know Farm claims started being paid out somewhere around the eighth of August, I believe.

And we've got, I mentioned on last Thursday’s call , so that we had proof of three farmers that were paid. The first one was 360,000 not 300,000 but 360,000 The second was 410,000 and the third one we heard was 525,000 - and these are farm claims to the farmers, and we understood that the black farmers were paid out first. Okay, so that's what we've heard.

And of course, I can't prove that right now, but that's what we've heard happened, which is great news.

Now let's go beyond that. I've given you a window. As we come back to the RV, I've given you a window of Wednesday to Wednesday by CW. Now what's interesting about that is we're hearing some things that are putting our day for exchanges to start Monday, the 19th, this coming Monday.

Now we've also heard from another call tonight that was with the financial advisors, bankers and so on, that there was a consensus on this call that we would be notified over the weekend and then start exchanges on Monday. So the 19th is Monday. It is halfway between kind of plus or minus between Wednesday and Wednesday, and it's very possible that that's what we end up with.

A few other people were saying we should get notified today and start tomorrow. I had that from a source that was speaking to a US Treasury source in Europe, and that's what they said, that we would get notified today and start exchanges tomorrow, but I don't know that we say that that's the case. I don't think that's happening somehow that did not occur.

So even my own Intel is slightly conflicted, but the consensus is looking for us getting notified this weekend and then exchanging on Monday.  Let’s Hope that is true.

Let's hope that is exactly what's happening. And you guys have the the debt forgiveness portion, which is was started Sunday and goes through the end of the month with credit card debts being wiped out.

I think those two aspects mortgages, home mortgages and credit card debt is a lot -  that is an answer to prayer, and that is wonderful to see that taking place.

Now. I think our USN is part of NESARA. I don't know if they'll announce it. I'm being told they won't. Bothers me. I would like to have it announced added asset backed and or gold backed currency, because it is and we're gonna have our US, TN, United States, trade notes and are in the banks. They're in the redemption centers. We're supposed to get some of it - when we go in for our appointments to exchange.

So that's been in place for a long time, I'm going to say months, and possibly over a year. Now that money, the new printed currency that we have are holding money that go down our wallets versus is already in place. So that's good. What else is going on? You know, guys, I think that's the majority of it.

So let's do this. Think I've loaded you guys up with good intel I think that's all I need to tell you guys tonight. This thing is right here, right there, where we can go anytime, yes, and we'll see if the Wednesday  window holds up, or if we get surprised, and maybe it goes soon, but really, Wednesdays as soon as we'll get anything right now. So let's do this. Let's go ahead and pray the call out right now,

Bruce’s Big Call Dinar Intel Tuesday Night 8-13-24   REPLAY  LINK     Intel Begins   1:14:14

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Bruce’s Big Call Dinar Intel Thursday Night 8-7-24   REPLAY LINK   Intel Begins   1:08:40

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Bruce’s Big Call Dinar Intel Tuesday Night 8-6-24   REPLAY  LINK     Intel Begins   1:05:40

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Bruce’s Big Call Dinar Intel Thursday Night 8-1-24   REPLAY LINK   Intel Begins   51:00

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Bruce’s Big Call Dinar Intel Tuesday Night 7-31-24   REPLAY  LINK     Intel Begins   57:37

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Bruce’s Big Call Dinar Intel Thursday Night 7-25-24   REPLAY LINK   Intel Begins  1:11:25

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Bruce’s Big Call Dinar Intel Tuesday Night 7-23-24  REPLAY  LINK     Intel Begins   1:07:40

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Bruce’s Big Call Dinar Intel Thursday Night 7-18-24   REPLAY LINK   Recorded Call not available

Bruce’s Big Call Dinar Intel Tuesday Night 7-16-24  REPLAY  LINK     Intel Begins   1:04:40

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Bruce’s Big Call Dinar Intel Thursday Night 7-11-24   REPLAY LINK  Intel Begins  1:11:40

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

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

Top 10 Reasons We’re Now Facing a Global Financial System Crash

Top 10 Reasons We’re Now Facing a Global Financial System Crash

On August 13, 2024  By Awake-In-3D

The evidence is clear—You won’t believe how close we are to the largest collapse in history

We’re standing on the edge of an financial system crash, and may people don’t even realize it. Yet!

The signs are all around us—record government spending, mounting consumer debt, and major corporations hoarding cash like never before.

Even the world’s biggest economies, like the U.S., Japan, and Germany, are struggling to keep their heads above water.

This article breaks down the top 10 reasons why we’re facing what could be the worst financial crash in history.

I’m going to walk you through what’s happening, why it’s happening, and what it means for all of us.

In This Article

1. The Top 10 Reasons the Global Financial System Crash is on Our Doorstep

2. Government Spending: The Core of this Financial System Crash

3. Central Bank Policies Causing Unprecedented Market Distortions

4. Consumer Financial Behavior as a Warning Sign of the Approaching Financial System Crash

5. Global Economic Indicators Pointing to a Deepening Crisis

The global financial system is facing a financial system crash of unprecedented scale. With three of the five largest economies heading towards economic catastrophe, the risks are mounting.

The Top 10 Reasons the Global Financial System Crash is on Our Doorstep

Here’s a logical progression of the top 10 reasons we are in a global recession, followed by an economic depression and then the grand finale, a complete financial system crash:

1. Unsustainable Government Spending: U.S. government spending as a percentage of GDP is nearing historic levels, creating a precarious fiscal situation.

2. Skyrocketing Consumer Debt: U.S. credit card debt has reached record highs, with interest rates at unprecedented levels, mirroring unsustainable government financial practices.

3. Distorted Central Bank Policies: The Bank of Japan’s excessive ownership of ETFs and government bonds has caused significant market distortions, leading to instability.

4. Massive Insider Stock Sales: U.S. executives are selling off stocks at the fastest pace in over a decade, signaling a lack of confidence in the markets.

5. Surging Cash Holdings by Corporations: Companies like Berkshire Hathaway are hoarding cash, indicating a lack of confidence in the economy and anticipation of a downturn.

6. Persistent Manufacturing Recession: The U.S. manufacturing sector has been in recession for an extended period, signaling broader economic warning signs.

7. Extended Recession in Major Economies: Germany has been in recession for over two years, reflecting broader global economic fragility.

8. Declining Unemployment Claims Participation: A low percentage of unemployed Americans filing for benefits suggests the official data is understating the true level of economic distress.

9. Long-term Devaluation of Fiat Currencies: The U.S. dollar and other major currencies have lost significant value against gold, indicating long-term economic instability.

10. Rising Public and Household Debt: U.S. public and household debt levels have reached all-time highs, creating the potential for a systemic financial crisis.

Government Spending: The Core of this Financial System Crash

U.S. government spending has reached levels not seen since World War II. At 43% of GDP, it is just 1% below the peak during the Great Financial Crisis.

These unsustainable spending habits are breaking the economy, setting the stage for severe financial turmoil.

Japan faces its own challenges. The Bank of Japan’s extensive intervention in the economy, owning about 80% of the country’s ETFs and 55% of its government bonds, has caused significant market distortions.

The recent rate hikes by the Bank of Japan have already triggered a 12% drop in the Nikkei 225, underscoring the instability.

Central Bank Policies Causing Unprecedented Market Distortions

Central banks, particularly the Bank of Japan, have been heavily involved in the financial markets, creating artificial support that cannot be sustained indefinitely.

The consequences are now becoming apparent, with volatile markets and a loss of confidence among investors.

The Bank of Japan’s recent actions indicate that even the slightest change in policy can have dramatic effects, as seen with the substantial decline in the Nikkei 225.

Consumer Financial Behavior as a Warning Sign of the Approaching Financial System Crash

Consumer debt in the U.S. has skyrocketed, with credit card debt hitting a record $1.14 trillion in the second quarter of 2024. Interest rates have also reached an all-time high of 22.76%, mirroring the reckless financial practices of the government.

This growing debt burden is pushing consumers closer to financial collapse.

Corporate behavior is also flashing red warning signs. Berkshire Hathaway, one of the largest and most successful corporations, has increased its cash reserves to 25% of its total assets, the highest level since 2005.

This massive cash hoarding indicates a lack of confidence in the current economic environment and suggests that major corporations are bracing for a severe downturn.

Global Economic Indicators Pointing to a Deepening Crisis

Germany, one of the world’s largest economies, has been in recession for over two years, with its GDP contracting in five of the last nine quarters.

This prolonged economic decline signals a broader global economic fragility, which could trigger a domino effect across other major economies.

Insider stock sales in the U.S. have reached their highest levels in over a decade, particularly among executives in tech giants like Nvidia. This rapid sell-off indicates that those closest to the markets are preparing for a downturn, further fueling fears of an imminent crisis.

The long-term devaluation of fiat currencies, particularly the U.S. dollar, adds another layer of risk to the global financial system.

The U.S. dollar has lost 98.5% of its value against gold since 1971, with other major currencies like the Euro and Yen experiencing similar declines.

This loss of purchasing power is eroding trust in fiat currencies, pushing investors towards alternative assets.

The Bottom Line

The interconnected nature of global economies means that the problems facing the U.S., Japan, and Germany are not isolated.

With government spending spiraling out of control, distorted central bank policies, rising consumer and corporate debt, and prolonged recessions in major economies, the world is on the brink of an unprecedented financial crisis.

Contributing Article: https://www.businessinsider.com/recession-fears-fueling-stock-market-crash-wall-street-chaos-positive-2024-8?op=1

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