Iraq Economic News and Points To Ponder Thursday AM 10-10-24

Oil Prices Rise Amid Fears Of Storms And Regional Unrest

Economy  | 10/10/2024  Mawazine News – Economy  Oil prices rose more than 1 percent on Thursday, supported by rising fuel demand as a major storm swept through Florida and concerns about potential supply disruptions in the Middle East.

Brent crude futures were up $1.2, or 1.6 percent, at $77.78 a barrel by 1330 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up $1.16, or 1.6 percent, at $74.40 a barrel.

The United States, the world’s largest oil producer and consumer, is grappling with another major storm, Hurricane Milton, which hit Florida, where about a quarter of gas stations ran out of supplies, helping support crude prices.

Prices have surged this month after Iran fired more than 180 rockets at Israel on Oct. 1, raising the prospect of retaliation and targeting Iranian oil facilities.

With Israel yet to respond, crude prices have retreated again and have been relatively steady throughout the week.

Biden “continues to dissuade Israel from targeting oil facilities but there are growing concerns that Israel’s allies have little influence over its strategy,” analysts at ANZ said in a note on Thursday.

While threats to Middle East production are at the forefront, weak demand continues to cloud the fundamental outlook.   https://www.mawazin.net/Details.aspx?jimare=255852

Iraq Raises Gold Reserves To 152.6 Tons, According To The World Gold Council

Time: 2024/10/10 11:34:18 Read: 1,651 times  {Economic: Al Furat News} Iraq’s gold reserves increased by 4 tons in the past two months, reaching 152.6 tons, according to a report issued by the World Gold Council. This increase places Iraq in 29th place globally among 100 countries in gold reserves, according to last month’s data.

At the Arab level, Iraq came in third place after Saudi Arabia and Lebanon, as data recorded an increase in Iraqi gold reserves from 148.3 tons to 152.6 tons.

Last August, Mazhar Mohammed Salih, economic advisor to the Iraqi prime minister, confirmed that gold represents about 10% of Iraq’s foreign currency reserves. He pointed out that the reserve had reached 148 tons at the time.

It is worth noting that Iraq recorded a gold reserve of 145 tons and 661 kilograms last February, indicating that the continuous increase reflects financial stability and stability in cash liquidity.

Globally, the United States holds the lead in gold reserves with 8,133 tons and 300 kilograms, followed by Germany with 3,351 tons and 500 kilograms, and then Italy in third place with 2,814 tons. LINK

Al-Hakim Stresses The Need To Leave The Rentier State And Activate The Five-Point Economy

Thursday 10 October 2024 | PoliticsNumber of readings: 61  Baghdad / NINA / The head of the National Wisdom Movement, Ammar al-Hakim, stressed the need to leave the rentier state and activate the economic quintet.

A statement from his office stated that al-Hakim received in his office in Baghdad Dr. Mazen al-Hakim, head of the Sibar Center for Digital Economy, and discussed with him the developments of events in Iraq and the region.

Al-Hakim stressed the importance of study centers to support the governmental and legislative system with ideas and studies, and the importance of studies being realistic and applicable.

Al-Hakim pointed to the nature of the economic challenges facing Iraq, stressing the need to leave the rentier state and activate the economic quintet represented by agriculture, industry, tourism, investment and technology. /  https://ninanews.com/Website/News/Details?key=1161129

Promoting The Private Sector Through Legislative And Executive Support

Economy  | 10/10/2024  Mawazine News – Baghdad  The head of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, confirmed today, Thursday, that the private sector enjoys legislative and executive cover and great attention from the government and has reached a stage of stability, which contributed to the construction process and attracting foreign investments.

Al-Zuhairi said in a statement to the official agency, that "the private sector was able to build a strong name for itself in recent years after the current government assumed responsibility, as it contributed to the construction process and attracting foreign investments."

He explained that "the government paid remarkable attention that contributed to the continuity and distinction of this sector," noting that "the support included important sectors such as housing, energy and agriculture, by facilitating many procedures such as financial support, simplifying regulations and facilitating the entry of foreign investors."

He pointed out that "the private sector now enjoys strong legislative and executive cover, which contributed to its stability and growth.

" Al-Zuhairi stressed "the importance of controlling borders to prevent the entry of irregular goods and developing development banks that effectively support the private sector."

He concluded his speech by saying that "recent years have witnessed a successful start for the private sector, which is still in the beginning and needs time to grow and develop." https://www.mawazin.net/Details.aspx?jimare=255846

The US Embassy rejects any targeting of the religious authority, Mr. Ali al-Sistani

The US Embassy in Iraq announced on Thursday that the United States rejects any targeting of the highest religious authority, Sayyid Ali al-Sistani, while indicating that Sayyid al-Sistani represents a decisive and influential voice in promoting a more peaceful region.

The embassy said in a statement to the Iraqi News Agency (INA): "The United States rejects any targeting of His Eminence Grand Ayatollah Sayyid Ali al-Sistani," indicating that "Sayyid al-Sistani is a prominent religious figure who enjoys great respect in the international community."

It added that "the United States believes that His Eminence Grand Ayatollah Sayyid al-Sistani represents a decisive and influential voice in promoting a more peaceful region." https://www.radionawa.com/all-detail.aspx?jimare=39713

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

4 Uncomfortable Truths About Money You Should Know

4 Uncomfortable Truths About Money You Should Know

 According to Rachel Cruze  GOBankingRates  Peter Burns  Thu, October 10, 2024

Getting your finances right isn’t a walk in the park. Sometimes it takes a long look in the mirror and admitting some uncomfortable truths about your money situation before you can make real progress.

Rachel Cruze, personal finance expert and co-host of “The Ramsey Show,” got candid about her financial journey in a recent YouTube video. In it, she shared some hard financial truths she’s learned over the years and broke them down so you can benefit from her knowledge.

Making More Money Doesn’t Guarantee Financial Success

As a finance expert for more than 15 years, Cruze has dealt with people with different levels of income. She’s met successful individuals who pull in $200,000 a year but still live paycheck to paycheck, and some who make $40,000 annually but have an emergency fund and no debt. The lesson she’s learned through these interactions is that having more money doesn’t guarantee that you’ll solve your financial issues.

A recent survey by Capital One found that 77% of Americans feel anxious about their finances, with 58% saying it controls their life. Cruze explained that the way to get your finances under control is more about your behaviors than the amount you make.

Practicing smart money habits, like developing a paycheck routine and budgeting, will benefit your long-term financial health more than a raise.

Investing Should Be a Goal You’re Working Toward

Another recent survey found that 41% of millennials aren’t investing, with nearly half of those individuals saying they don’t earn enough money to do so. Cruze believes this is a big mistake, because making a habit out of investing even small amounts can pay off in big ways.

TO READ MORE: https://finance.yahoo.com/news/4-uncomfortable-truths-money-know-120021923.html

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 10-10-24

Good afternoon Dinar Recaps,

RIPPLE HITS BACK AT SEC, FILES CROSS-APPEAL

The feud continues: Ripple Labs has announced plans to file a cross-appeal in its ongoing legal case with the U.S. Securities and Exchange Commission.

This move by Ripple is meant to preserve its legal defenses as the SEC’s own appeal proceeds through the courts. The SEC filed an appeal on Oct. 2 to counter the July 2023 ruling that concluded XRP cannot be classified as a security.

The SEC’s appeal follows the ruling that determined Ripple’s sale of XRP on exchanges did not violate federal securities laws.

Ripple CEO Brad Garlinghouse tweeted that, with the cross-appeal, Ripple is “looking forward to sealing the SEC’s fate and finally putting an end to the SEC’s regulation-by-enforcement agenda.”

The SEC sued Ripple in December 2020, claiming that XRP, Ripple’s cryptocurrency, was sold as an unregistered security. Securities are financial instruments, like stocks or bonds, that must meet strict regulatory requirements before being sold. The key issue in the case is whether XRP qualifies as a security.

Ripple’s cross-appeal ensures it can address all aspects of the case as the legal process continues. According to Ripple’s Chief Legal Officer Stuart Alderoty, the company wants to keep all options open.

This comes despite the SEC’s contentious stance on what constitutes a token as a security — and despite clear details of the SEC’s appeal.

In appeal cases like this, both parties file notices explaining the basis of their arguments, followed by more detailed legal briefs. Ripple’s next step is to submit these briefs as the appeal progresses. Both Ripple and the SEC will be outlining their positions in the coming weeks.

The ongoing battle
As mentioned earlier, Ripple Labs was sued in 2020 by the SEC for conducting an unregistered securities offering by selling XRP. The SEC claimed that XRP was a security under U.S. law and alleged that Ripple and its executives raised $1.3 billion in capital without proper registration.

Ripple argued that XRP does not meet the criteria for a security under the Howey Test.

Throughout the case, Ripple achieved several important milestones, such as a key ruling by Judge Sarah Netburn in March 2021, which distinguished XRP from Bitcoin and Ethereum, acknowledging its utility and currency-like value.

The court also ordered the release of crucial documents, including internal communications from former SEC director William Hinman, whose comments on Ethereum’s status as a non-security influenced the case.

On July 13, 2023, Judge Analisa Torres ruled that XRP is not a security when sold on exchanges to the public, marking a significant victory for Ripple and the broader crypto industry.

However, the court ruled that Ripple’s XRP sales to institutional investors violated securities law. Ripple’s legal struggles continued, including the SEC’s attempt to appeal this decision, which was denied in October 2023.

Ultimately, Ripple faced a $125 million fine. However, the ruling marked a turning point in the crypto regulatory landscape, setting a precedent for how digital assets are classified in the U.S. moving forward.

@ Newshounds News™

Source:  Crypto News

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SOUTH KOREA ALLOWS DIVISION OF CRYPTO IN DIVORCE SETTLEMENTS

South Korean law allows spouses to claim cryptocurrency and Bitcoin holdings during divorce proceedings, recognizing them as marital assets, law firm says.

Married couples in South Korea can now divide cryptocurrency holdings during divorce proceedings, according to a law firm specializing in the country’s legal system.

South Korean law firm IPG Legal clarified the law regarding cryptocurrencies during divorce cases. Responding to questions from clients, the firm said that under South Korean law, both tangible and intangible assets can be divided during a divorce:

“Under Article 839-2 of the Korean Civil Act, either spouse may request a division of marital assets accumulated during the marriage upon the divorce in Korea.”

The firm pointed to a 2018 ruling by South Korea’s Supreme Court that confirmed cryptocurrency and virtual assets are considered property due to their economic value as intangible assets.

South Korea considers crypto as an intangible asset
As a result, any cryptocurrencies acquired during marriage can be regarded as part of the marital estate. Spouses who are aware of their partner’s crypto exchange wallets can have courts issue a “fact-finding investigation” to ascertain the value of their holdings.

Tracking crypto investments is easier than traditional cash, considering that blockchain technology preserves all transactions and does not allow external factors to modify or delete entries.

Bank withdrawal records and other forensic investigations also allow for the discovery of unknown sources of crypto holdings.

Partners can choose to either cash out the crypto holdings before splitting or share the tokens directly.

Investigators find hidden Bitcoin in New York divorce
The growing use of cryptocurrency in finance has led to more divorce cases involving digital assets worldwide.

During a New York couple’s divorce proceedings, the wife appointed a forensic accountant to uncover her husband’s hidden Bitcoin holdings.

The wife found that her soon-to-be ex-husband failed to declare 12 BTC — worth about $500,000 — stored in an undisclosed crypto wallet.

“It was never even a thought in my mind because it’s not like we were discussing it or making investments together. It was definitely a shock,” she said.

@ Newshounds News™

Source:  CoinTelegraph

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ARGENTINA OVERTAKES BRAZIL IN CRYPTO INFLOWS — CHAINALYSIS

Argentina’s stablecoin market is one of the largest in the world in terms of share of stablecoin transactions, beating the global average by 17%.

Argentina, one of the fastest-growing cryptocurrency markets, has overtaken Brazil as the top Latin American (Latam) country in terms of estimated crypto inflows by users.

Crypto users in Argentina deposited the largest amount of crypto in Latam between July 2023 and June 2024, with inflows totaling $91 billion, Chainalysis reported on Oct. 9.

With an estimated $91 billion in crypto inflows, Argentina has overtaken Brazil in terms of total crypto value received, ranking slightly ahead of Brazil’s estimated $90 billion during the period.

Argentina’s stablecoin activity is 17% higher than the global average
The rapid growth in crypto adoption in Argentina comes amid a decades-long battle with inflation and local currency devaluation, forcing Argentinians to seek alternative ways of saving, including using the US dollar or dollar-pegged stablecoins.

According to Chainalysis, Argentina’s stablecoin market is one of the largest in the world in terms of share of stablecoin transactions. It is also among the leaders in the Latam region.

Argentina’s share of stablecoin transaction volume amounted to 61.8% between July 2023 and June 2024, slightly above Brazil’s share of 59.8%. Argentina’s stablecoin activity is well above the global average of 44.7% but lower than Columbia’s 66%.

The report highlighted that the share of Argentina’s retail-sized stablecoin transactions — those under $10,000 — is growing faster than any other asset type. This trend suggests that Argentinians are relying on stablecoins to protect their finances from inflation and currency instability. The report stated:

“Their interest in stablecoins highlights the role of crypto in unstable markets and how citizens are able to take better control of their financial futures by embracing cryptocurrency, regardless of official monetary policy.”

Tether prioritizes markets like Argentina over developed economies
Argentina’s growing stablecoin activity comes as stablecoin issuer Tether focuses more on emerging markets like Argentina rather than developed economies like the US.

The operator of the world’s largest US dollar-pegged stablecoin, Tether USDT, Tether recognized Argentina’s need for the “digital dollar,” its CEO Paolo Ardoino told Cointelegraph last week.

“That people want to hold that dollar, not in cash, but in a digital form because it’s much more convenient,” Ardoino said.

Argentina has increasingly positioned itself as a crypto-friendly country. In late 2023, Argentina officially allowed using Bitcoin in legally binding contracts after pro-Bitcoin President Javier Milei took office in December 2023.

Despite Argentina becoming one of the most active jurisdictions in cryptocurrency usage, the local government is yet to regulate the growing market.

According to Forbes, Argentina struggled to provide regulated cryptocurrency services to its population as of July despite the government making multiple efforts to introduce regulations.

While developed economies like those in Europe have been pushing stablecoin regulations in recent years, Argentina has yet to introduce a stablecoin framework.

@ Newshounds News™

Source:  CoinTelegraph

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RIPPLE XRP! THE FED JUST LAUNCHED THEIR DIGITAL CURRENCY  |  Youtube

@ Newshounds News™  

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🌍 The Constitution Friday Nights Call with Seeds of Wisdom Team  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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“Tidbits From TNT” Thursday 10-10-2024

TNT:

Tishwash:  Details of the meeting of the Federation of Iraqi Chambers of Commerce with the Kurdistan Regional Government

The Federation of Iraqi Chambers of Commerce held an economic meeting today, Thursday, October 10, 2024, in the city of Erbil in the Kurdistan Region

The head of the Kurdistan Regional Government Council of Ministers, Omed Sabah, said in a joint press conference with the head of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, which was attended by the correspondent Sumerian"

This meeting is part of the regional government's meetings and comes within the regional government's efforts to build the best relationship between Erbil and Baghdad," he noted, noting that "the meeting achieved great success and yielded fruitful results, and the trade relationship between the two sides was discussed."

 "We previously held a meeting with the Economic Ministerial Council, followed by another meeting of the Kurdistan Region delegation with the federal government," he added, stressing, "We agreed to hold another meeting in the Kurdistan Region's Council of Ministers."

Meanwhile, the head of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, stated at the conference that "the central government has a special response to the trade sector in the region."

It is noteworthy that the meeting included the participation of 19 heads of Iraqi chambers of commerce.link

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

Tishwash:  A qualitative shift and an increase in trading.. Securities announces the launch of a new website for the Iraqi market

Wissam Al-Mulla

The Securities Commission announced today, Thursday, the signing of an agreement with the International Finance Corporation to develop the Iraqi market, and while it indicated the preparation of a guidebook to raise the transparency of companies, it confirmed that the new website of the Iraqi Stock Exchange will cover spot stock prices and is a qualitative leap.

The Chairman of the Securities Commission, Faisal Al-Haimus, told the Iraqi News Agency (INA): "The Commission signed an agreement with the International Finance Corporation in the first quarter of this year to develop the work of the Iraqi Stock Exchange."

He explained that "the Authority has worked on developing the guidance booklet and the government guide for companies, which is expected to be ready by the end of the year, in order to present it to companies and benefit from the guidelines contained therein."

He pointed out that "the booklet aims to increase the level of transparency for companies listed on the Iraq Stock Exchange, which are often late in publishing essential information and accounts, which affects investors."

He stressed that "the Commission has launched the new website of the Iraq Stock Exchange, which will cover spot stock prices, which will allow the investor to read the market movements of any company, and this is a qualitative shift that will result in an increase in trading."  link

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Tishwash:  Parliamentary Finance: These are the reasons for the rise in the dollar exchange rate against the Iraqi dinar

 The Parliamentary Finance Committee has identified the reasons for the rise in the dollar exchange rate against the Iraqi dinar during the current period.

Committee member, MP Jamal Kocher, said in a statement to the National Iraqi News Agency / NINA /: "There are several factors behind the rise in the dollar exchange rate against the Iraqi dinar, the most important of which are speculators, currency smuggling, lack of control over border crossings, some private bank owners, and some parties / not named / controlling money laundering, and other factors.

Kocher explained that the Central Bank of Iraq has nothing to do with the rise in the dollar exchange rate against the dinar, and there is no hosting of the bank president in parliament in this regard."   link

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Tishwash:  Minister of Agriculture invites Saudi Arabia to participate in the investment forum in Baghdad

Minister of Agriculture Abbas Jabr Al-Maliki called on Saudi Arabia, on Thursday, to participate in the investment forum scheduled to be held in Baghdad soon, while expressing his hope to open prospects for joint cooperation in the fields of agriculture, environment and water.

A statement by the Ministry of Agriculture stated that "the Minister of Agriculture headed the Iraqi side in the meetings of the Iraqi-Saudi Coordination Council to discuss prospects for joint cooperation between the two brotherly countries," noting that "the topics raised of common interest were discussed, and the activation of the memorandum of understanding between the two sides was also addressed, in order to advance the future agricultural reality."

He continued: "Cooperation and investment in water desalination projects were also discussed, considering that Saudi Arabia has extensive experience in this field, in addition to presenting and discussing a number of proposals that serve the interests of the two brotherly peoples in various fields of common interest, including agricultural fields."

According to the statement, the Minister of Agriculture called on the Saudi side to "attend the investment forum scheduled to be held in Baghdad next November," expressing his hope "to open prospects for joint cooperation in the fields of agriculture, environment and water."

During the meeting with the Saudi side, the Minister of Agriculture presented "investment opportunities in the agricultural field, which can be implemented and activated through achieving partnerships, and according to the instructions in force under the partnership law recently issued by the Iraqi government."

For his part, the Saudi side stressed "its keenness to enhance joint cooperation in the areas raised in the meeting, especially in the field of agricultural investment."  link

Mot: .. Just Saying as You Season!!! 

Mot:  What happens when I sit down for “just a minute” to write my to-do list.

BRICS will use a gold-backed currency

BRICS will use a gold-backed currency

BRICS will most likely go for a gold-backed currency called the UNIT. 

BRICS countries are considering ways to promote local currencies in international trade and financial transactions. The group’s work has picked up speed lately and leaders may decide on their path forward at the BRICS Summit in October.

One BRICS currency alternative being considered, the UNIT, would use a gold-backed digital asset on a blockchain to settle global transactions. 

HOW THE UNIT WORKS

According to reports following the SPIEF and the June foreign ministers meeting, BRICS is considering a blockchain-enabled payment system that uses a digital asset called the UNIT. Based on the UNIT white paper, each UNIT would be backed by a reserve basket with the following characteristics:

Includes 40% gold

60% balance is made up of participating BRICS currencies which are convertible into gold 

No one currency has a greater than 30% weight in gold terms.

A UNIT is created or “minted” at a blockchain-based node when a consumer or investor participant deposits on reserve the corresponding value of gold and participating BRICS currencies. For example, to receive one gold gram equivalent value of a UNIT, a participant would deposit 0.4 grams of gold and 0.6 gold equivalent grams worth of participating currencies (figure 2).

The white paper envisions that UNIT nodes would have a connection to a physical storage hub with adequate transport connections and supporting infrastructure.

The UNIT is not designed to take local currencies’ place in domestic day-to-day transactions. It would work in parallel with established domestic banking and payment systems.

Gold on reserve forever

Gold is the anchor of the ecosystem. The existing gold supply plus annual gold mine production limits the amount of new UNITs created. In addition, as envisioned by the white paper, once gold and local currencies are put into the reserve, they stay there. The one exception to the on-reserve-forever rule is in the case where a node seeks to be bought out. In the case of a buyout, all UNITs returned by the node are canceled and its share of the reserves is returned.

The limited redeemability of the underlying reserves is an important characteristic of the UNIT ecosystem. The on-reserve-forever rule would essentially lead to ounces of gold coming out of central bank reserves, investor portfolios, or the ground and heading straight into permanent storage. This new permanent use case for gold has positive implications for gold miners. Once global investors begin to understand and believe that the UNIT ecosystem will require more gold over time, scarce reserves in the ground should become more valuable.

Re-rating of gold reserves in the ground

Importantly for the mining industry, the on-reserve-forever nature of the UNIT ecosystem would support the demand for gold. The extent of the support will initially depend on the rate of UNIT adoption for use in global commerce. In 2022, the exports of the five original BRICS countries were worth about US$5.3 trillion (China US$ 3.7 trillion).

Based on 2022 trade data and current gold prices, we estimate that for every 1% of market share of BRICS of export trade obtained by the UNIT, just over 250 tonnes of gold along with the equivalent of 385 tonnes of gold in participating BRICS currencies would have to be put on reserve at UNIT nodes.

The actual gold going on reserve at ecosystem nodes would represent almost 5% of the 5,672 tonnes of gold reserves held by the BRICS central banks as of the first quarter of 2024 as reported by the World Gold Council.

Given that most merchandise trade in UNITs would likely be driven by private sector participants, it remains to be seen to what extent central banks would be offering their gold to be used for the minting process. While central banks could conceivably provide some gold initially to help establish the ecosystem, we doubt that they will be running down their reserves as UNIT adoption grows.

As prospective UNIT adoption grows over time, unmined gold reserves would take on added importance considering the critical role gold will play in this new global payment system. Currently, the top three North American gold producers, Newmont (NEM), Agnico Eagle (AEM), and Barrick Gold (GOLD) have just over 7,500 tonnes of gold reserves in the ground as of December 2023. Once mined, those reserves would support the creation of enough UNITs to cover just over 29% of BRICS export trade in 2022. 

​How would a BRICS currency impact the economy?

A potential shift toward a new BRICS currency could have significant implications for the North American economy and investors operating within it. Some of the most affected sectors and industries include:

Oil and gas

Banking and Finance

Commodities

International trade

Technology

Tourism and travel

The foreign exchange market

How can investors prepare for a new BRICS currency?

Adjusting a portfolio in response to emerging BRICS currency trends may be challenging for investors. However, several strategies can be adopted to capitalize on these trends.

Diversify currency exposure by investing in assets denominated in currencies other than the US dollar, such as bonds, mutual funds, or exchange-traded funds (ETFs).  Link

Coffee with MarkZ, joined by Bob Lock. 10/10/2024

Coffee with MarkZ, joined by Bob Lock. 10/10/2024

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

Happy Birthday to Mark’s Son Zester today!!

Member: Good Morning to Mark, Mods, and Members

Member: Mark, Are you as excited this week as you were last week? Seems things have stalled instead of happening like they were supposed to.

Member: Militia Man says salaries are to be paid in Iraq on Wednesday the 16th. Do you believe a new rate will be implemented prior to that payroll distribution?

MZ: Articles out how Iraq has completed all the steps needed to join the WTO:  We knew they had completed all the steps and now this is an official statement saying they are done. Many experts besides myself including other intel providers (gurus) and members of the Iraqi finance ministry believe this will bring us their increased rate.

Member: Iraq is ready, Lets go!!

Mark, there are many countries that are WTO members with much weaker currencies than Iraq, Vietnam as an example. I wonder why in Iraq –it would warrant a new rate?

MZ: “Securities announce the launch of a new website for the Iraqi Stock Exchange” they continue to modernize and become a dominate force in the region.

MZ: “Iraq is the third largest Arab Nation with gold holdings”  Iraq’s possession of gold has reached 152 tons.

MZ: Let’s think about the values of other currencies in the region…..like Jordan and Kuwait…..Iraq is trouncing most of them in resources, physical gold ect…..Iraq is making their case to support their higher value.

Member: I believe Jordan’s rate is around $1.50 or so and Kuwait is around $3.50 or so……to the USD

MZ: And Iraq is diversifying with non oil revenues to support their currency. This is for safety and stability. Dr. Shabibi always said that if Iraq was safe and stable –he would give them a more valuable dinar

MZ: Iraq is one of the most safe and stable countries in the region and they are working hard at it.

Member: I think the Dollar Index (DXY) is important to watch. 2 scenarios is plausible: 1) DXY going par at 100 B4 RV goes; 2) DXY goes higher, Iraq revalues IQD and as DXY goes down to par IQD rate grows.

Member: Seems like whenever there is excitement around a bond date, like Tuesday, it comes and goes like nothing ever happened….

Member: I am here for some Omega news

MZ: I know some Omega group leaders that are on a high level watch right now. Hoping to get some news on that soon.

Member: What is Omega?

Member: Its one of the Prosperity packages.

Member: Any Bond movement, rumors or currency updates?

Member: I hear All tier 3 have to sign NDAs. Releasing that information would be catastrophic. Ppl mortgaging their homes, maxing out credit cards, to benefit from the RV.

Member: Jeff Rahm said 10/15 was the outside deadline for this to go, one way or the other.Let’s hope he is right.

Member: Saw an Article that 12 Countries joined BRICS yesterday. 40 more are applying.

​​Member: I am just not bright enough I guess to understand how we can have all of this news, and still not get the RV.

Member: Prayers for all in Florida and N. Caroling affected by hurricanes this month.

Member: Stay positive guys……even if it takes the rest of the year for the RV…..it’s not that far away.

Member: chess game checkmate in 7 moves. they know it is over but they can still cause pain. The game still needs to be finished. unless they concede and they won't do that.

Member: This weekend is Columbus day and a 3 day weekend…fingers crossed.

Member: Big Happy Birthday to you Zester! Have a great day!

Bob lock joins the stream today. Please listen to replay for his information and opinions.

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! NO PODCAST TONIGHT

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Youtube:    https://www.youtube.com/watch?v=F6BOyaKyBL8

Seeds of Wisdom RV and Economic Updates Thursday Morning 10-10-24

Good Morning Dinar Recaps,

WHY INDIA IS DELAYING CRYPTO REGULATION—THE SURPRISING REASON BEHIND IT!

India has yet to publish its long-awaited discussion paper on cryptocurrency policy. The country’s focus is elsewhere. For months, there was an expectation that the government would outline its stance by September. However, other pressing issues are now taking priority. So, what’s going on with India’s crypto policy, and why is it taking so long? Let’s explore what’s happening with crypto in India and why it’s not on the top of the list.

Delays, Priorities, and More Delays
According to insiders, India was supposed to release a discussion paper on crypto. This paper was expected to provide a direction for future regulation, especially after consultations with the central bank and markets regulators. However, there is no clear timeline anymore. Why? The country’s officials are dealing with more urgent issues. For now, crypto policy is on the back burner.

Competing Priorities in India
One big reason for the delay is the sheer number of competing priorities the government is handling. India is preparing for the 2024 annual meetings of the International Monetary Fund (IMF) and the World Bank. It’s also dealing with the ongoing Russia-Ukraine war and the conflict in the Middle East. On top of that, election season is heating up, and the Finance Ministry is busy with budget planning. With so much going on, cryptocurrency regulation is not seen as an urgent matter.

Crypto Not an Immediate Threat
Despite a recent $234 million hack of Indian exchange WazirX, the government doesn’t consider crypto legislation as critical as it was two years ago. While the sector is still unregulated, India has imposed heavy taxes and requires crypto entities to register with the country’s Financial Intelligence Unit to meet global anti-money laundering standards.

What to Expect?
India might eventually release its discussion paper, but no one knows when. For now, the government seems more focused on bigger international and domestic issues. So, if you’re waiting for clear crypto rules in India, it looks like you’ll have to wait a little longer.

@ Newshounds News™

Source:  Coinpedia

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THAI SEC PROPOSES REGULATIONS FOR CRYPTO INVESTMENT IN MUTUAL, PRIVATE FUNDS

Thailand’s Securities and Exchange Commission (SEC) has proposed draft regulations allowing mutual and private funds to invest in cryptos.

The proposed principle, announced Wednesday, is currently seeking public feedback on revisions to mutual funds’ investment criteria in digital assets.

The move comes at a time when interest in cryptocurrency investment is increasing. Thailand, one of the world’s most crypto-friendly nations, ranks 10th globally in terms of adoption.

The regulator noted that the funds will be allowed to invest in crypto exchange-traded funds (ETFs) listed on the US exchanges. Further, it also allows funds to choose investment tokens, which has attracted the interest of Thai investors.

“The funds will be allowed to invest in investment tokens subject to current investment limits of traditional securities, such as single entity limit, group limit, and concentration limit.”

The announcement read that for institutional investors and ultra-high-net-worth individuals with high-risk tolerance, the funds will be allowed to invest in crypto ETFs with no investment limit.

Thai SEC deputy secretary-general Anek Yooyuen said that investment tokens will have the same investment ratios as transferable securities. This is because they have key risks and features similar to traditional securities, such as debt securities, Bangkok Post reported.

“Relevant criteria will be revised to support the establishment and management of funds investing in digital assets, such as asset custody, digital asset value calculation, information disclosure and appropriate advertising.”

Thailand approved its first crypto ETF in June, issued by One Asset Management (ONEAM). The Thai SEC endorsed ONEAM’s Bitcoin ETF, marking a milestone in the country’s evolving regulatory framework for digital assets.

Thai SEC Mulls Initial Coin Offering, Increase Penalties for Violating Crypto Firms
Additionally, the regulator is also considering allowing authorised initial coin offering portals to use outsourced companies.

“This measure was endorsed by the SEC and a public hearing is needed before it can be implemented,” Yooyuen added.

Besides, the Thai SEC will also allow 10 private companies to explore trials for exchanging cryptos for Thai bhat as a part of digital asset regulatory sandbox project.

Furthermore, crypto firms that violate the SEC rules are considered a severe offence. As a result, the regulator aims to increase penalties for such companies in addition to their licenses being revoked.

Securities firms that send inappropriate trading orders will be fined a maximum of 1 million to 3 million baht. Investors who breach laws by manipulating stocks are subject to civil and criminal penalties, the report noted.

@ Newshounds News™

Source:  Crypto News

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RIPPLE ROLLS OUT CRYPTO STORAGE SERVICES FOR FINANCIAL INSTITUTIONS

Ripple Custody enhances security and compliance for fintech and banking sectors.

▪️Ripple Custody offers banks crypto storage with advanced security and policy settings.

▪️The service integrates with XRP Ledger to enhance trading and compliance capabilities.

Ripple is rolling out a new suite of crypto storage services designed to help banks and fintech firms securely store and manage crypto assets, according to a new report from CNBC. The initiative is part of Ripple’s strategy to diversify its offerings beyond traditional payment settlement operations.

Discussing the latest development, Aaron Slettehaugh, Senior Vice President of Product at Ripple, said the goal is to support the growing needs of businesses operating in the crypto and fintech sectors.

“With new features, Ripple Custody is expanding its capabilities to better serve high-growth crypto and fintech businesses with secure and scalable digital asset custody,” Slettehaugh said.

According to Ripple, the new features come with a more user-friendly interface for storing and managing digital assets. The services also include advanced operational and policy settings, integration with the XRP Ledger, and enhanced anti-money laundering monitoring to ensure compliance.

Under the Ripple Custody brand, the firm plans to allow clients to tokenize real-world assets using its XRP Ledger.

Ripple Custody operates in several countries and is trusted by several top companies like HSBC, BBVA, Societe Generale, and DBS. Ripple said that its custody division experienced over 250% year-on-year customer growth.

Ripple’s expansion into the custody sector follows its acquisitions of Metaco and Standard Custody & Trust Company, targeting bolstering Ripple’s custody capabilities.

The expansion positions Ripple against established firms in the crypto custody market, which is projected to exceed $16 trillion by 2030. Ripple Custody directly competes with well-established custody solutions by Coinbase, BitGo, and Gemini.

Ripple is gearing up to enter the stablecoin market with its upcoming stablecoin, Ripple USD (RLUSD).  RLUSD is in beta testing, with trials being conducted on the XRP Ledger and Ethereum blockchains.

As with its custody move, Ripple faces challenges as it enters a crowded stablecoin market dominated by established players. While there is potential for RLUSD, it will need to differentiate itself from existing offerings to gain traction.

@ Newshounds News™

Source:  Crypto Briefing  

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🌍WHY NUMISMATIC COINS ARE A COLLECTOR'S DREAM |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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News, Rumors and Opinions Thursday AM 10-10-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 10 Oct. 2024

Compiled Thurs. 10 Oct. 2024 12:01 am EST by Judy Byington

Global Currency Reset: (Rumors/Opinions)

Wed. 9 Oct. 2024 Wolverine: Hi guys…For the people who are desperate to know what is going on. First, I’ve been advised to be quiet and allow the flow to go through. What I heard is that huge Whales have received their notifications and are flying to their destination to receive their blessing.

Wolverine cont…….I can’t say more until I’m allowed to speak. Nothing is guaranteed in this journey but I have absolute faith that any day we are going to receive the news we’ve been waiting for. Please remain in faith and be patient as I know it’s h*****n all of us including myself. If I have anything to share and I’m allowed to I will let you all know. God bless. Your friend, Wolverine

Tues. 8 Oct. 2024 Bruce: Three sources saying we could be notified between Friday and Monday the 14th. One source is saying anytime from the 9th – 14th. Some timing depends on what happens with Hurricane Milton in Florida.

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Tues. 1 Oct. 2024 Currency Revaluation …Charlie Ward and Friends on Telegram

Key Currencies: Iraqi Dinar, Vietnamese Dong, and Zimbabwe ZIM

Iraqi Dinar: The Iraqi dinar has been undervalued for too long due to years of turmoil and economic instability. But everything is about to change. With this new treaty in place, the Dinar is set for a major revaluation—bringing newfound prosperity to Iraq and transforming its future.

This revaluation won’t just boost the economy; it will bring foreign investors flocking, pushing Iraq into a new era. The elites tried to suppress Iraq, but they can’t hold it down any longer. The rise is imminent, and those who know are getting ready to prosper.

Vietnamese Dong: Vietnam’s economy has been growing steadily, but the value of the Dong never reflected this progress—because they didn’t want it to. Now, with a revaluation, the Dong is set to be on par with the U.S. dollar, signaling the unstoppable rise of Vietnam’s economic power.

This isn’t just about Vietnam; it’s about a global shift, and the opportunities are endless. Trade, investment, and massive economic growth are on the horizon. Those in the know are already seeing the potential. Are you ready to seize the moment?

Zimbabwe ZIM: Zimbabwe has faced economic collapse, hyperinflation, and hardship—but the ZIM is coming back. The revaluation of the ZIM isn’t just a step forward; it’s a leap towards freedom from the chains the global powers placed on Zimbabwe.

This change will restore faith in Zimbabwe’s economy and pave the way for recovery and growth. The old system fears countries like Zimbabwe rising—but it’s too late to stop what’s coming. The revaluation is about reclaiming power, and those prepared will see rewards beyond belief.

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Global Financial Crisis:

Tues. 8 Oct. 2024: Morgan Stanley claims Amazon is considering laying off 14,000 managers from its 1.5 million-employee workforce. This is because the company is planning to reduce its managerial staff and it could lead to significant layoffs and cost-cutting measures.

Tues. 8 Oct. 2024: Spirit Airlines shares fell 30% on Thursday following a report it could file for bankruptcy.

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

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

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

Bruce   [via WiserNow]  ...as far as our timing for this...people are telling us...essentially it's coming from three separate sources...Two of them are saying we could get notified anytime between Friday...and Monday, the 14th...One source is indicating...any time from...the ninth through the 14th.

SkyWalker  The project [to delete the zeros] is more then just the currency or an exchange rate. The  monetary reforms, banking reforms, building up the reserves at the CBI, buying gold, making laws that attract foreign direct  investment, fighting corruption, increasing international trade, connectivity with international finance platforms, are just some  of the instruments that will justify the RV.  When the CBI is ready the new currency will be introduced with higher value that will  be fashioned specifically for the new macro and micro Iraqi economy.  

OCTOBER WARNING: This Economic Index Hasn’t Been this LOW Since 1975

Daniela Cambone:  10-9-2024

"We’re in a world of inflation volatility,” says Peter Boockvar, Chief Investment Officer of Bleakley Financial Group. In a discussion with Daniela Cambone, Boockvar explains that the widely accepted two percent inflation target won’t remain steady.

He predicts deceleration through the end of this year, followed by an upward inflection next year. Given this volatility, Boockvar advocates for owning gold as a strong hedge, with silver offering even more potential for percentage gains.

He acknowledges the likelihood of a correction or pullback in precious metals, which he sees as typical in any bull market.

“Any sprinter will run out of gas. A healthier run is a marathon where there could be some slowdown in pace along the way. And even a breather is always a good thing to sort of recharge the batteries."

CHAPTERS:

00:00 Gold's performance

2:08 China’s gold purchasing

3:25 What makes gold bullish?

7:06 Western investors’ appetite for gold

 9:21 Economy overview

13:56 Fed’s next move

17:07 CPI

https://www.youtube.com/watch?v=TG0d8gdtP8k

MilitiaMan: Iraqi Dinar-International Focus-WTO File Joining Completed-Regularization of Global Financial System

Iraqi Dinar-International Focus-WTO File Joining Completed-Regularization of Global Financial System

MilitiaMan and Crew:  10-9-2024

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=8Dt99Os-rlE

Seeds of Wisdom RV and Economic Updates Wednesday Evening 10-9-24

Good Evening Dinar Recaps,

STABLECOINS NO ‘SAFE HAVEN’ FROM US MONETARY POLICY, SAYS EUROPEAN CENTRAL BANK

The ECB says that stablecoins are vulnerable to both shocks coming from within the crypto world and the decisions of U.S. central bankers.

The European Central Bank (ECB) has challenged the idea that stablecoins are a “safe haven” for investors in times of market turmoil, finding they are actually highly impacted by U.S. monetary policy.

The working paper examined the link between U.S. monetary policy, money market funds (MMFs), and stablecoins. “Monetary policy, in particular for the U.S. dollar, is the linchpin that connects crypto and traditional financial markets,” the authors concluded.

The paper argued that stablecoins—which have a fixed price and are typically pegged to a fiat currency, often the U.S. dollar—were vulnerable to shocks coming from within traditional financial markets, such as changing U.S. monetary policy, for example increasing interest rates.

Evaluating data since 2019, the ECB claimed the U.S. government raising interest rates led to a 10% drop in the market capitalization of stablecoins over the following 12 weeks.

Meanwhile, it found that traditional non-crypto assets, such as money market funds, actually received a significant influx of new capital during this same period.

A money market fund is a type of fund that invests in short-term debt securities such as U.S. Treasury bills, generally regarded as one of the most conservative, low-risk investment choices.

The paper argues that as monetary policy tightens up, investors demand fewer stablecoins for speculative purposes.

“Contractionary monetary policy shocks are thus negative for crypto: As the opportunity cost of holding unregulated non-interest bearing assets increases in a rising interest rate environment, investors move (on the margin) towards traditional investment assets,” said the paper.

The paper also examined the impact of events in the crypto world on stablecoin market capitalizations. The ECB found that market capitalizations of stablecoins—such as Tether or USDC—experienced pronounced falls during “crypto shocks,” or sudden devaluations in the overall value of Bitcoin.

On average stablecoins fell roughly 4% on average in the aftermath of “crypto shocks.” Examples of crypto shocks included Tesla’s decision to suspend payments from the Bitcoin network, China’s crackdown on cryptocurrencies, the TerraUSD/LUNA collapse, and FTX’s sudden bankruptcy.

As a result, they concluded that monetary policy had more of an impact on stablecoins than shocks to the crypto world. For example, during the “crypto winter” of 2021, major stablecoins like Tether received significant knocks to their market capitalization, although not to the same extent as non-dollar pegged currencies like Bitcoin.

In contrast, the paper concluded that big fluctuations in the crypto market don’t impact the world of traditional finance much—at least at the time of writing. It found a minimal correlation between big events in the crypto world and the inflow into money market funds, such as U.S stock market prices.

The paper didn’t take the Central Bank policies of other major economies into account.

@ Newshounds News™

Source:  Decrypt

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GARY GENSLER GRILLED BY LAW STUDENTS AND FORMER SEC COMMISSIONER OVER HIS STANCE ON REGULATING CRYPTO
▪️At a fireside chat on Wednesday with former SEC Democratic Commissioner Robert Jackson Jr. at the New York University Law Institute for Corporate Governance and Finance, asked SEC Chair Gary Gensler about the agency’s approach to digital assets.

▪️Law students also pressed Gensler about whether the SEC should be more clear in its stance on crypto.

U.S. Securities and Exchange Commission Chair Gary Gensler was pressed by law students and a former Democratic commissioner at the agency over his views on regulating cryptocurrency.

At a fireside chat on Wednesday with former SEC Democratic Commissioner Robert Jackson Jr. at the New York University Law Institute for Corporate Governance and Finance, asked Gensler about the agency's approach to digital assets.

 The SEC has often cited the Howey Test in crypto, which is a 1946 U.S. Supreme Court case used to determine if an asset qualifies as an investment contract and, therefore, a security.

"Is that the way we should oversee cryptocurrency, by trying to apply a 1940s Supreme Court decision to this technology?" Jackson asked.

Gensler stood his ground.

"Look, it's the law of the land and I took an oath of office to do it, but it also protects investors," Gensler said. "At the core of the securities laws, there is a basic concept — you all get to decide what you want to invest in."

That could be green energy or artificial intelligence, but either way, disclosures are necessary, Gensler said.

The SEC has brought a number of enforcement actions against big names in the crypto industry over the past few years, including FTX, Binance, Kraken and Coinbase. Meanwhile, Gensler has consistently warned that crypto exchanges must register with the agency and has said that most cryptocurrencies are securities.

However, crypto firms have argued it's not possible to register with the agency, in part because rules were made for more traditional entities that are different from the digital asset industry.

On Wednesday, Gensler also pointed toward fraud in the crypto industry, citing a report from the FBI last month that recorded a 45% uptick last year in losses tied to crypto since 2022.

"With all respect, the leading lights of this field in 2022 are either in jail or awaiting extradition right now," Gensler said.

Roberts also asked Gensler if it would be better to create a regulatory framework for digital assets. Gensler said that framework already exists.

"Just because people don't like the law doesn't mean there's no law," Gensler added.

A law student also asked Gensler about the SEC's term crypto asset securities and whether the agency should be more clear about its position.

The SEC said, in a recently amended complaint, that when the agency refers to crypto asset securities, it’s not referring to the crypto asset itself but the full set of contracts, expectations and understandings of the sales of such assets. The agency added that it "regrets any confusion."

Gensler said the agency has been clear over the years, including when former SEC Chair Jay Clayton headed the agency.

"Since then as well, the [SEC] have spoken clearly in a consistent voice and the courts have as well," Gensler said.

Another student asked what would happen to the utility of tokens if they were to become compliant with the SEC.

The SEC is "merit-neutral," Gensler said, and investors get to decide the utility. Gensler also noted that tokens are not likely to become a currency.

"It's unlikely this stuff is going to be a currency," Gensler said. "It's going to have to show its value through disclosure, through use."

@ Newshounds News™

Source:  The Block  

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The Financial WARS Begin

🏦 BlackRock, the world's largest asset manager, is secretly preparing for a potential US dollar collapse by launching a fund to back a new stablecoin created by Ethanol Labs, which will be backed by BlackRock's tokenized assets.

💰 Gold and silver prices have surged nearly 30% this year, outperforming equities and bonds, as inflation rises and investors seek safe haven investments.

🏠 Mortgage rates are increasing despite Fed rate cuts, with the 30-year rate spiking 25 basis points last Friday, while banks tighten lending rules and FHA delinquencies rise.

🌲 Lumber and meat processing companies are allegedly colluding to artificially inflate prices, causing builders to lose money on unsold homes, according to McDonald's lawsuit against Tyson Foods and others.

💼 The current economic situation is compared to the Great Depression, with rising unemployment and foreclosures, though during the Great Depression, three out of four people still had jobs.

@ Newshounds News™

Source: The Economic Ninja

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🌍 IOTA GAINS INSTITUTIONAL TRACTION AS FIREBLOCKS ADDS EVM SUPPORT TO ITS SECURE PLATFORM  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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4 Tips To Handle Your Finances in an Uncertain Economy

4 Tips To Handle Your Finances in an Uncertain Economy, According to Money Expert Michela Allocca

Chris Ozarowski  Wed, October 9, 2024  GOBankingRates

Michela Allocca is a personal finance creator who shares tips for managing money through her social media pages.  In a recent post on her Instagram @breakyourbudget, she offered viewers four tips to help them handle their finances and prepare for an uncertain economy or even a recession.

Why Recession Prep?

So why prepare for a recession? According to Allocca, in recent years there has been a noticeable rise in financial anxiety among people across the U.S. This isn’t necessarily confined to any particular age group, income bracket or industry — concerns are universal. Record inflation has impacted essential expenses like rent, groceries, gas, insurance and home prices.

Recently, an economic indicator known as the Sahm Rule was triggered, signaling that the country may be on the verge of a recession. The Sahm Rule is used to detect the start of a recession quickly. Developed by economist Claudia Sahm, it focuses on changes in the unemployment rate.

The rule states that if the three-month average of the national unemployment rate rises by 0.5 percentage points or more above its lowest point in the previous 12 months, it signals the beginning of a recession. A recession could mean more layoffs and a tougher and more competitive job market, so preparing as much as you can can be a good idea.

Michela Allocca’s 4 Tips for Recession Prep

1. Take a Financial Snapshot

Allocca suggests starting by getting a firm understanding of your current financial situation. “Review your accounts and get clear on how much you have and where,” she said.

Start by listing all your bank accounts, investment accounts, retirement funds and other assets. Then list all of your debts, such as credit cards, student loans or mortgages. This gives you your net worth — the difference between your assets and liabilities.

Next, assess your cash flow — the amount of money coming in and going out of your accounts each month. List all sources of income, including your salary and any freelance work or side gigs. Then, compare that to your expenses by reviewing bank statements and receipts. You should categorize your spending into essentials like housing, utilities and groceries, and non-essentials like entertainment and dining out.

By auditing your outflow, you can identify areas where you might be overspending. If you find places where you are spending more than you need to, you can cut back and put that money aside for a rainy day.

2. Audit Your Cash Position

Allocca explains that it’s important to decide where you keep your money, especially when the economic situation is more uncertain. She describes this as auditing your cash position. Allocca lists two options for where to keep cash.

One option is a high-yield savings account. Allocca says that this is “a great place for your emergency fund or any other short-term cash savings.” An emergency fund should be one of your top priorities — you’ll need it if you lose your job or have unexpected expenses.

TO READ MORE:  https://www.yahoo.com/finance/news/4-tips-handle-finances-uncertain-140210755.html