Dinar Recaps 20 10/21/24 Dinar Recaps 20 10/21/24

Silver Soars as Dollar Cracks, BRICS, SWIFT, and the Future of Money

Silver Soars as Dollar Cracks, BRICS, SWIFT, and the Future of Money

Smart Silver Stacker: 10-20-2024

In dramatic market movements this past week, silver has surged past the $33 mark, experiencing a remarkable rise of over 6% in a single day. This is not just a minor fluctuation; it marks the highest level for the precious metal in over a decade.

This impressive rally comes alongside fresh turbulence in the U.S. dollar index (DXY), leading many analysts to speculate about the future trajectory of both silver and the broader financial landscape.

Silver Soars as Dollar Cracks, BRICS, SWIFT, and the Future of Money

Smart Silver Stacker: 10-20-2024

The recent rally in silver is compelling. As it broke the $33 barrier, many saw it not just as an isolated event but a potential signal for a larger market breakout. Historically, silver has been viewed as a safe haven asset, often moving inversely to the performance of the U.S. dollar. The dollar index, which recently displayed signs of wearing down after a month-long ascent, suggests growing uncertainty in the greenback’s dominance.

As the dollar began to show signs of weakness, investors are looking for shelter in precious metals, particularly silver. Why? Silver’s dual nature—as both an industrial metal and a store of value—makes it a particularly attractive option in times of economic instability. Investors are increasingly realizing that with the global economy becoming more intertwined and fragile, holding tangible assets like silver can provide a hedge against inflation and currency depreciation.

The decline of the U.S. dollar has significant implications for silver and other precious metals. A weaker dollar generally increases demand for commodities priced in dollars, making them cheaper for holders of other currencies. This scenario can drive up prices further, prompting a surge in investment interest. Moreover, as the dollar weakens, hedge funds and other institutional investors may turn to silver as a hedge against economic uncertainty.

As we watch these shifts unfold, it’s essential to recognize how interconnected global markets are. The U.S. dollar has long held the status of the world’s reserve currency, but recent trends suggest the potential for a gradual erosion of that dominance. Should the dollar continue to decline, precious metals like silver could see significant upward price momentum.

Adding another layer to this intricate financial tapestry are comments from Russian President Vladair Putin ahead of the BRICS summit. Putin’s statements indicate a shift away from the U.S. dollar in global trade, with discussions of alternatives to the SWIFT payment system coming to the forefront. Such developments suggest a coordinated effort by non-Western nations to establish a new financial infrastructure that bypasses traditional U.S.-dominated systems.

If major economies—particularly those in the BRICS group (Brazil, Russia, India, China, and South Africa)—successfully create an alternative economic framework, it could lead to a more multipolar world in terms of currency usage. A decline in reliance on the dollar could diminish its value and pave the way for precious metals to serve as alternative stores of value in a world where fiat currencies become more volatile.

The confluence of the silver surge, the weakening dollar, and geopolitical shifts presents a compelling narrative: we may be witnessing the early stages of a significant financial transition. As investors keep a close watch on these developments, silver’s recent surge seems to be just the beginning of a much larger trend.

In conclusion, the current financial landscape is ripe with potential shifts, fueled by both market dynamics and geopolitical tensions. The implications of these changes could set the stage for a new era in global finance—one where silver and other precious metals play an increasingly pivotal role.

As we move forward, the next few months may reveal whether silver’s breakout is the start of something much larger. Only time will tell.

Watch the video below from Smart Silver Stacker for further insights.

https://youtu.be/_EpA-pC-Fnc

Dinar Recaps 20 10/21/24 Dinar Recaps 20 10/21/24

“Tidbits From TNT” Monday 10-21-2024

TNT:

Tishwash: For a strong economic partnership..Iraq intends to sign 11 memoranda of understanding with Spain

Minister of Transport Razzaq Al-Saadawi announced today, Monday, 11 memoranda of understanding that will be signed with Spain, while calling on Spanish companies to participate effectively in the next session of the Baghdad and Iraq Reconstruction Exhibition.

Al-Saadawi said in a speech during the launch of the 13th session of the Iraqi-Spanish Joint Committee, “It is appropriate for me to begin my speech with the major shift in Iraq’s new economic and trade policy to deepen the bonds of trade, economic and international cooperation to restore Iraq’s leading role as an important and major axis regionally and internationally.”

TNT:

Tishwash: For a strong economic partnership..Iraq intends to sign 11 memoranda of understanding with Spain

He added, “The Iraqi government, headed by Prime Minister Mohammed Shia al-Sudani, has begun working to adopt a policy of economic openness to the countries of the world, in addition to maximizing the role of the private sector in the economic development process,” indicating that “Iraq is witnessing a qualitative shift today through investing in its geographical location, as it will be a cornerstone for the sustainable economy through the land railway link project from Iraq through Turkey and from there to Europe, to transport goods and link the Middle East to the European continent.”

He continued: “Iraq has been linked with friendly Spain by historical relations dating back to the seventies of the last century, perfumed by the bilateral agreement for cooperation in various economic, commercial, scientific and technical fields, signed between the governments of the two countries in 1972, which had a great impact on the contribution of Spanish companies to many economic activities in Iraq, in implementation of the paragraphs that were agreed upon in the last minutes of the previous session held in Madrid in 2013.”

He pointed out that “through the continuation of the committee’s sessions, there will be a number of opportunities available to greatly enhance the level of bilateral cooperation in many commercial, economic and technical fields,” stressing “the need to enhance joint work to increase and diversify the volume of trade exchange between our two countries, as this cooperation will play a major role in strengthening the economy to serve both parties.”

He stated that "Iraq is looking forward to being a strong economic partner for Spain, in addition to the participation of Spanish companies in Iraqi infrastructure projects."

He added: “Today we meet again in the meetings of the 13th session of the Iraqi-Spanish Joint Committee for Economic, Technical and Commercial Cooperation, and we hope that this meeting will have fruitful results. I would also like to take this opportunity to invite Spanish companies to participate in the reconstruction projects of Iraq, and take its place in the investment map launched by the National Investment Commission in Iraq and achieve effective participation in the next session of the Baghdad International Fair,” noting “the importance of the Spanish government’s support and assistance to complete all the obligations required for Iraq to obtain full membership in the World Trade Organization.”

Al-Saadawi expressed his “deep thanks and gratitude to the Spanish government and people, and their efforts to develop economic and trade relations between Iraq and Spain,” expressing his hope that “these efforts will be successful for both sides to reach common goals that serve the interests of the two friendly countries, which the Spanish side requested to be signed during the Prime Minister’s visit to Spain.”

He pointed out that "the agreement included:

First: A memorandum of understanding proposed by the Federation of Iraqi Chambers of Commerce sent to the Spanish side.

Second: A memorandum of understanding proposed by the Iraqi Federation of Industries sent to the Spanish side.

Third: A memorandum of understanding proposed by the Iraqi Contractors Union sent to the Spanish side.

Fourth: A memorandum of understanding proposed by the Iraqi Ministry of Water Resources sent to the Spanish side.

Fifth: A memorandum of understanding proposed by the Iraqi Ministry of Youth and Sports, also sent to the Spanish side.

Sixth: An executive program proposed by the Tourism Authority to activate the agreement signed between the two countries in 1979, also sent to the Spanish side.

He pointed out that “the position of the memoranda of understanding proposed by the Iraqi side, which the Spanish side requested to be followed up outside the scope of the joint committee, through the Ministry of Foreign Affairs with the relevant authorities, in coordination with their representatives directly, considering that they are outside the scope of economic and trade cooperation, and according to the opinion of the Spanish side, are:

1- A memorandum of understanding proposed by the Iraqi Ministry of Foreign Affairs sent to the Spanish side.

2- A memorandum of understanding proposed by the Iraqi Ministry of Education sent to the Spanish side.

3- A memorandum of understanding proposed by the Ministry of Higher Education and Scientific Research sent to the Spanish side.

4- A memorandum of understanding proposed by the Iraqi Ministry of Culture, also sent to the Spanish side.

5- A memorandum of understanding proposed by the Iraqi Ministry of Justice to the Spanish side.link

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

Tishwash: Rafidain Bank organizes a workshop on cyber security

Rafidain Bank organized a workshop on cyber security today, Sunday, in cooperation with the American University in Baghdad.

The bank said in a statement received by the Iraqi News Agency (INA): "Under the patronage of the General Manager of Rafidain Bank, Ali Karim, and in cooperation with the Continuing Education Center at the American University in Baghdad, the Bank's Preparation and Training Division organized a workshop to train the bank's employees on cybersecurity techniques."

He added that "the workshop witnessed a high-level presence represented by the General Manager of Rafidain Bank, the Vice President of the American University, and the Director of the Continuing Education Center, in addition to a number of managers of the bank's departments and divisions.

" He continued that "the workshop addressed the most prominent challenges facing the Iraqi banking system in the field of cybersecurity, and discussed how to address these challenges to ensure the protection of data and financial systems."

In a meeting with officials at the American University, the General Manager of Rafidain Bank confirmed - according to the statement - that "the bank's management vision is based on developing and empowering human resources in various specializations, with a focus on the field of cybersecurity."

He stressed "the importance of intensifying efforts to train employees and applying quality standards to ensure the provision of accurate and fast banking services that meet customer needs and enhance their satisfaction and confidence." link

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

Tishwash Head of Parliament's Finance Committee talks about "dollar smuggling" and "investor privileges" in Iraq

New bank after merging "Rafidain and Rashid"

The head of the Finance Committee in Parliament, Atwan Al-Atwani, admitted that "dollar smuggling" continues, while revealing privileges for investors in the real estate market in Iraq.

Al-Atwani, a leader in the State of Law Coalition led by Nouri al-Maliki, spoke on Saturday, in a television talk show followed by the “Al-Jabal” platform, hesitantly about “forging import invoices,” but he confirmed, in contrast, the continuation of “dollar smuggling through the purchase of goods that are not audited at the ports.”

He said, "Dollar sales through the Central Bank, which are around $300 million per day, are not all returning to the country in the form of goods," explaining that "there is tax evasion, a defect in the ports, and goods going to other countries."

On the other hand, he denied his knowledge of the existence of "statistics on currency evasion", while calling for monitoring the work of traders and investors who obtain dollars at the "official price".

Last year, Prime Minister Mohammed al-Sudani revealed that currency smuggling abroad was done through “forged invoices, and the money was going out and being smuggled, and this is a reality, otherwise what were we importing for $300 million a day? ”

"Certainly this money was leaving Iraq and this has been a chronic problem for years," he added.

The official exchange rate is 1,320 dinars to the dollar. But at the money changers, the dollar is worth 1,500 dinars.

Banking restructuring

Regarding the banking situation in Iraq, the head of the Finance Committee revealed the existence of an international company called “K2” that “tracks financial transfers” in Iraqi banks.

He said that there is a "decision to merge some banks, and a new bank will be formed through Rafidain and Rashid, and it will operate in a modern way . "

He revealed that Rafidain Bank has been subject to "sanctions since the time of the former regime."

The United States banned some banks in Iraq from dealing in dollars, as the number of those banks reached 31 banks, due to suspicion of smuggling dollars to Iran and other countries.

There are about 72 banks in Iraq, including 29 private Islamic banks, 25 private commercial bank-

Real estate market

Regarding the rise in real estate prices in Iraq, and Baghdad in particular, Al-Atwani attributed this to “the increase in demand in the housing market and the lack of supply,” stressing that “Iraq needs 3 million housing units.”

The head of the Finance Committee said, " The residential complexes are not sufficient, and have solved only 20% of the housing crisis in Iraq."

Al-Atwani revealed what he described as a “flaw in the investment laws,” stating that Iraq “gives free land to the investor, loans, and offers him customs exemptions, and we need someone who comes and has money.”

The head of the parliament's finance committee also criticised "granting investors land in city centres", but praised the government's now building entire residential cities "outside the centres".

Political opinions

In other political and economic issues, Al-Atwani said that “the Minister of Finance promised to provide 3.5 trillion dinars in 2024 through taxes,” while denying the existence of political wills preventing “interrogating the government’s financial officials.”

He also confirmed the decline in the presence of what are known as “economic offices” affiliated with the parties, despite his confirmation of the existence of “partisan interests” in the economic file.

Al-Atwani hoped that Iraq would not be exposed to "economic blows" due to the crisis in the region.

The leader of the State of Law considered that Iraq "is part of the axis of resistance, but it does not want war."

He added, "Iraq has an Islamic commitment to countries that are being killed," stressing that "Iraq will defend itself by all means if it is subjected to strikes." link

Mot: ....... Almost!!!!

Mot: Chopping wood…..

Dinar Recaps 20 10/21/24 Dinar Recaps 20 10/21/24

Coffee with MarkZ and Mr. Cottrell 10/21/2024

Coffee with MarkZ and Mr.Cottrell 10/21/2024

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

Member: Good Morning and welcome to a new week of RV possibilities.

Member: One day before the BRICS summit, 10 days before Halloween and 15 days until the elections.

MZ: It looks to be a very interesting week.

Coffee with MarkZ and Mr.Cottrell 10/21/2024

MarkZ Update- Some highlights by PDK-Not verbatim

Member: Good Morning and welcome to a new week of RV possibilities.

Member: One day before the BRICS summit, 10 days before Halloween and 15 days until the elections.

MZ: It looks to be a very interesting week.

Member: Metals are rising fast....could this be the all at once Andy talks about?....the way its going gold could top 2800 by the end of the week?

MZ: It will be interesting to see how they pivot and how they handle this one. Will there be sheer panic? Will they unload paper silver to try to suppress it? Will people lose all faith? It will be one heck of a interesting week. Will the music stop on the financial game of musical chairs?

Member: They can’t print their way out of this one . Canada’s dept to gdp is over 200%

Member: I am actually shocked that more US Banks have not folded in this mess.

Member: BOA is the one that's supposed to take the biggest hit with shorts..

Member: I wonder if Russia has anything to do with the silver increase.

MZ: Absolutely they do….Just last week they announced that they are going to make silver part of their foreign currency reserves…along with gold to back up their currency. This absolutely had some effect.

Member: BRICS meetings start today/tomorrow! That will be interesting to hear what they talk about!

Member: We need a little tangible hope this morning Mark. Please give us something to chew on the RV front!

MZ: “Parliament reveals the secrets of 6 qualitative blows to currency counterfeiting networks in Iraq” Iraq points out they are fight this hard….a number of the counterfeiters come from China. They are working hard to keep their monetary supply clean. They also say this is a global issue –especially with the dollar in most countries of the world…

MZ: “Salaries will be delayed: Fundamental changes coming to the Iraqi money and financial system” Some are worried about the budget deficit. This is another reason we need the dinar value changed- to erase that. .

Member: How do the people in Iraq manage to survive with their pay being delayed so long????

MZ: On the bond side…There are lots of meetings coming this week. I believe we may have the anser as to whether bonds will go now or wait until a day or two after the election? All eyes are on the 23rd. Many bond holders have updates and bond meetings on the 23rd.

MZ: Groups have been aggregating Asian bonds….For them to be paid they have to start paying the German bonds.

Member: I thought German bonds were done last week ?

Member: Don’t we have to have a rate change in order for the bonds to be paid?

MZ: It depends on what kind of bonds and who is buying them …Some will need a rate change, and they will go after we start going to the banks. But most are paid with historic funds that are already in place.

MZ: As a typical Monday morning….most news will start trickling in this afternoon

Member: Checkout major move in VND. Moved 1.5%. Huge action. Usually a flatline.

Member: Mark, it seems like Iraq is ready to go and the GCR seems months away. I think Dinar and Zim go this week and helps escort the GCR and BRICS into a new economic age

Member: According to an analytical article in the Zimbabwean newspaper Herald. “As the number of BRICS member countries increases, so will the organization’s influence on the global economy.”

Member: Brics to dump US bonds/Treasuries soon

Member: Rumor is Operation Sandman starts soon where 100 or so countries will drop their US treasuries at the same time …If that happens….the system will crash.

Member: Some people are saying the USTN needs to be released and fiat bills out of circulation before Iraq will revalue!

MZ: I was told it will go at the same time.

Member: I wonder who has the power to override the rats to create a reset?

Member: I keep hoping those rats will be arrested soon…..so far-crickets

Member: I believe the RV will take place early next year but I hope I'm wrong but talking with the COO of Chase this is what they informed me as well

Member: I don’t believe it will happen until after elections…..Would love to be wrong.

Member: I believe we are in for a wonderful holiday season, new beginnings and togetherness

Member: We are headed to the finish line and receiving our blessing. Hold on, everyone, WE WILL WIN.

Mr. Cottrell and StacieZ join the stream today. Please listen to the replay for all of their 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

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

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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.

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DINARRECAPS8 10/21/24 DINARRECAPS8 10/21/24

America Is Entering A New 'Economic Supercycle'

Linette Lopez Sun, October 20, 2024 Business Insider

No one's going to sound an alarm, blast out a text message, or shoot you an email about it, but the US economy is undergoing a historic shift. We are leaving one long period of expansion — what economists refer to as a "supercycle" — and entering a very different one.

Over the past 15 years, the economy has been characterized by weak demand and low interest rates — a decade-and-a-half hangover from the Great Recession. Now, experts tell me, that is coming to an end.

The world has changed, and we are entering an era of higher growth, creeping inflation, and geopolitical instability that will reroute the flow of money around the world. A new era has arrived, but it's going to be bumpy.

America Is Entering A New 'Economic Supercycle'

Linette Lopez Sun, October 20, 2024 Business Insider

The good news is that this new era looks as if it will be unencumbered by some of the problems that put a ceiling on growth during the previous era. The most salient feature of the old period, economists say, was the risk of deflation — the possibility that a lack of demand would cause wages and prices to spiral downward, a trap that is extremely difficult to escape.

In an effort to avoid that fate, policymakers in Washington pushed interest rates down to zero and encouraged all kinds of risky behavior among investors, businesses, and everyday consumers.

Investors trying to reach their benchmarks "had to creep out on the risk spectrum," Josh Hirt, a senior economist at Vanguard, tells me. "Supercheap debt," he says, made it easy for businesses to "overexpand and overhire."

The pro-risk environment had some earth-shifting consequences. Silicon Valley put the internet on our phones, China blew a massive bubble in its property market, and the world started investing in renewable energy.

But low interest rates did little to boost demand, and the economy consistently grew slower than it did before the crash, never notching above 3% GDP growth. It was only after the massive government stimulus, spurred by the pandemic, that the economy reached escape velocity, pushing up wages and starting to grow at a healthy clip.

Now, economists say, we're entering a supercycle that will be characterized by three sweeping forces. First, higher interest rates will reward savers, making it more expensive to take risks. Second, geopolitical and economic volatility will generate inflationary effects, reintroducing the specter of soaring prices.

And third, industrial planning will be increasingly influenced by national-security concerns, altering supply chains across industries. How low interest rates wind up settling will establish a new gravitational pull in global markets, recalibrating the forces that determine where the economy is most likely to grow — and where investment is most likely to flow.

The new supercycle "puts the economy in a completely new era," says Silas Myers, the CEO of Mar Vista Investments, which oversees $4 billion in assets. He warns that an entire generation of investors, lenders, and entrepreneurs have failed to embrace the "profound impact" that the new economic era will have on their businesses.

"We were in a time that was less demanding and more forgiving," Myers says. "But that time is ending."

One of the clearest signs that a new economic supercycle has arrived is when the financial rules go topsy-turvy. The previous supercycle was ushered in when the Federal Reserve, in response to the destruction caused by the financial crisis, cut its benchmark interest rate to 0% — the first time the central bank went all the way to the bottom.

The structural shift sent shockwaves throughout the world. Yields on Treasury bonds tanked, meaning investors had to start taking some serious risks if they wanted to make money. This new adventurism pushed stocks higher and higher.

DINARRECAPS8 10/21/24 DINARRECAPS8 10/21/24

Seeds of Wisdom RV and Economic Updates Monday Morning 10-21-24

Good Morning Dinar Recaps,

STABLECOINS CAN BENEFIT FINANCIAL SYSTEM, FED GOVERNOR SAYS

The United States national debt has crossed $35 trillion, with $500 billion added to the government debt in the last two weeks alone.

On Oct. 18, Federal Reserve Bank Governor Christopher Waller told an audience at the Institute of Advanced Studies that well-regulated stablecoins could benefit the current financial system.

Good Morning Dinar Recaps,

STABLECOINS CAN BENEFIT FINANCIAL SYSTEM, FED GOVERNOR SAYS

The United States national debt has crossed $35 trillion, with $500 billion added to the government debt in the last two weeks alone.

On Oct. 18, Federal Reserve Bank Governor Christopher Waller told an audience at the Institute of Advanced Studies that well-regulated stablecoins could benefit the current financial system.

“Stablecoins can reduce the need for payment intermediaries and thereby reduce costs of payments globally,” Waller stated, but immediately qualified his remarks by saying that stablecoin “safety is not assured.” The Fed official explained:

“If appropriate guardrails can be erected to minimize run risk and mitigate other risks, such as their potential use in illicit finance, then stablecoins may have benefits in payments and by serving as a safe asset on a variety of new trading platforms.”

Waller also argued that decentralized finance can achieve a symbiotic relationship with traditional finance instead of supplanting it altogether. This viewpoint has been previously pitched by some US lawmakers, who argue that decentralized finance and dollar-denominated stablecoins can extend dollar dominance by decades.

Stablecoins as a way to extend US dollar hegemony
On June 14, an article was published in The Wall Street Journal, written by former United States Speaker of the House Paul Ryan, making a case for how stablecoins could mitigate the looming debt crisis.

Ryan pointed out that stablecoins create demand for US Treasurys and US dollars, which will keep the dollar competitive against the Chinese yuan and preserve its current status as the global reserve currency.

More recently, in October, US Senator Bill Hagerty introduced the Clarity for Payment Stablecoins Act building upon Representative Patrick McHenry’s 2023 stablecoin bill.

The most notable changes to the bill were provisions to regulate stablecoins at the state level and removing a clause in the 2023 version of the bill that identified stablecoins as securities.

Despite these efforts, a recent report from Chainalysis revealed that the US is lagging in stablecoin adoption. According to Chainalysis, the market share of stablecoin transactions on US-regulated exchanges dropped below 40% in 2024. Comparatively, the share of stablecoin transactions via offshore exchanges rose to 60% this year.

@ Newshounds News™

Source: CoinTelegraph

~~~~~~~~~

BRICS SAUDI ARABIA: OFFICIAL ANNOUNCEMENT ON MEMBERSHIP

Despite accepting an invitation to join the alliance in 2023, the BRICS bloc has yet to fully welcome Saudi Arabia into the alliance.

That could be set to change at the BRICS 2024 Summit, according to an official announcement. Specifically, Russian Spokesperson Dmitry Peskov noted Riyadh’s participation within the alliance will be made clear after the upcoming event.

The ongoing saga has seen different responses from both sides throughout the year. Saudi Arabia has continuously said that it is carefully observing the risks and benefits of joining the bloc. However, the alliance has continued to affirm that the country is the 10th member of the growing collective. That distinction is likely to be verified after the event takes place.

BRICS & Saudi Arabia to Clarify Position After 2024 Summit
Last year, the BRICS bloc announced its first expansion effort since 2001. Indeed, the bloc had announced that five nations had accepted invitations to join the bloc. Specifically, these countries included the United Arab Emirates (UAE), Egypt, Iran, Ethiopia, and Saudi Arabia.

However, one of those nations had not officially accepted the invitation. Saudi Arabia clarified that it had yet to join the bloc and was still considering the strategic benefits of joining the group. A year later, the situation is yet to be resolved. However, it does appear as though an answer is coming.

According to a Russian spokesperson, the BRICS group will clarify Saudi Arabia’s membership within the alliance after the 2024 Summit. The event, taking place next week in Kazan, is the biggest of the calendar year for the alliance. With questions surrounding Saudi Arabia’s attendance, the questions of its membership began to resurface.

“The summit will be held very soon,” Dmitry Peskov told Russian state media. “We will inform you additionally who will represent Saudi Arabia or if it will be represented at the summit at all. Based on this, we will make conclusions.”

In 2023, Saudi Arabia’s position in the bloc was considered a game changer. The oil and gas powerhouse would’ve brought forth unprecedented geopolitical benefits to the group. Yet, it also would have only magnified tensions with the West. These relationships are likely the basis for the country’s reluctance to join the Global South’s opposition. Yet, the answers to its membership question should be obvious after the summit concludes.

@ Newshounds News™

Source: Watcher Guru

~~~~~~~~~

🌱 GOLD DEBT CLOCK WOW WOW WOW SOWT | Youtube

This is so IMPORTANT for the GCR! Listen Up!

@ Newshounds News™

Source: Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Dinar Recaps 20 10/21/24 Dinar Recaps 20 10/21/24

News, Rumors and Opinions Monday AM 10-21-2024

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 Mon. 21 Oct. 2024

Compiled Mon. 21 Oct. 2024 12:01 am EST by Judy Byington

Judy Note: The Oct. 17 (alleged) launch of the gold/asset-backed Global Currency Reset and (alleged) demise of the US Inc.’s fiat dollar that took away the Cabal’s money supply, was designed to change all that.

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 Mon. 21 Oct. 2024

Compiled Mon. 21 Oct. 2024 12:01 am EST by Judy Byington

On Sun. 20 Oct. the White House was engulfed with green lights. For the past 2-3 days it has been lit up with red lights (for Red October). Green now seemed appropriate for this week with the anticipated BRICS announcement of a Global Currency Reset and activation of NESARA/GESARA for The People.

As of Thurs. 17th Oct. 2024 the fiat US Dollar could no longer ( allegedly) be used for international trade, which ( allegedly) ended funding of the privately owned US Inc. Corp, plus on that same Thurs. 17th Oct. the Quantum Financial System Global Currency Reset ( allegedly) activated, which launched the new United States of America Republic.

Global Currency Reset:

Sun. 20 Oct. 2024 BREAKING! The Four Portals of the Quantum Financial System (QFS) — USA, European, UK, and Asia-Africa-Australia Portals — are set to connect and transform the world! Discover how these portals will bring transparency, asset-backed currencies, and global financial freedom, ending deep state control. https://amg-news.com/breaking-the-four-portals-of-the-qfs-usa-european-uk-and-asia-africa-australia-portals-set-to-connect-and-transform-the-world/

Sun. 20 Oct. 2024 Captain Marvel Jr. October Surprise: Julian Assange and Chance McFadden and his contacts in the Banking industry have confirmed that starting on Thurs. 17th Oct. the gold-backed Chinese Yen (allegedly) replaced the fiat US Dollar to determine the price of oil on the Forex for international trading; the fiat US Dollar (allegedly) ceased to exist because it has no value and cannot be used for international trade; the US Inc. Corp. fiscal year ended; the Quantum Financial System Global Currency Reset (allegedly) activated and the new United States of America Republic started its new fiscal year. The October Surprise Revealed- Huge Intel (rumble.com)

Sun. 20 Oct. 2024 Wolverine: “It’s all happening this week by the grace of God. Have faith and don’t ever lose it. One of the World’s most noted Whales has just been called in to fly to a certain destination. This is about to kick off. It looks like groups are getting ready now. Foundation groups are getting ready. Please pray my friends. I’m so emotional now that I wish I could tell you more but it’s looking really good for this week. Please God let it happen. …

My sources say everything is going this week. I have absolute faith we will go this week. It’s all happening this week by the grace of God. Have faith and don’t ever lose it. Things started. The green light was given in Zurich as sovereign whales are advancing rapidly and some receiving payment. We are expecting to blast off on Monday for our big D day in Reno.

They are putting the codes in to be started. The QFS has been officially established as our payment system. The US will introduce the new strong dollar on Nov 6. The USN has started digitally. They are already doing trading using USN, but the ones in the states will be the physical note. The commercial digital dollar is now being used as Swift system is gone. Reno is moving the money to Zurich paymasters so they will be ready to start Monday. There are reports that German bond holders are getting funds.

Fri. 18 Oct. 2024 TNT: “Everything is a go. It’s going to be a super fantastic weekend. Some say by Sun. the 20th. Some say by Sat. the 19th. Some say tonight, Fri. night. They fully plan it this weekend.”

Thurs. 17 Oct. 2024 Bruce: Bond Holders have been told they will receive their emails Thurs, Fri or Sat that would inform them of when they will have access to their accounts – which will likely be on Tues. 22 Oct. They are rolling out the toll free numbers to Tier4b (us, the Internet Group) likely by Mon. 21 Oct. and we will be able to set appointments on Tues. 22 Oct. BRICS are intending to bring out their Reserve Currency on Tues. 22 Oct.

Sun. 20 Oct. 2024 Jentel RV Update: “Payments are being received. They started yesterday Sat. 19 2024 in other countries. To meet today’s requirements, confirmations of received payments must come from all platforms. Confirmations from the bank to the Treasury to avoid: https://dinarevaluation.blogspot.com/2024/10/payments-are-being-received-by-jentel.html

Sun. 20 Oct. 2024: BREAKING! The Four Portals of the QFS: USA, European, UK, and Asia-Africa-Australia Portals Set to Connect and Transform the World! – amg-news.com – American Media Group

~~~~~~~~~~~~

Global Financial Crisis:

On Wed. 9 Oct. 2024 BRICS 12 Countries Ditched the fiat US Dollar and will now pay trade in local gold/asset-backed currencies: https://watcher.guru/news/brics-12-countries-ditch-us-dollar-pay-85-trade-in-local-currencies

On Mon. 14 Oct. 2024 the BRICS Summit struck a deal to settle international trade in sovereign nation’s gold/asset-backed currencies, taking a direct s**t at the dominance of the US dollar. https://www.cryptopolitan.com/brics-seals-deal-for-international-trade-settlements-in-national-currencies/

Sun. 20 Oct. 2024: BRICS cooperation with Africa increases the bloc’s influence on the global economy – media. The influence of BRICS on the global economy is growing as the number of member countries increases, and the importance of cooperation with Africa is also growing, according to an analytical article in the Zimbabwean newspaper Herald. “As the number of BRICS member countries increases, so will the organization’s influence on the global economy.

One of the most obvious manifestations of this trend is the gradual weakening of the dollar with a view to its replacement in global trade settlements. In the near future, this will be supplemented by such factors as the strengthening of food security in the BRICS countries, the demise of the Visa and Mastercard payment systems, and the gradual abandonment of SWIFT,” the article notes.

The Zimbabwean publication notes that BRICS is strengthening its position in Africa through large-scale investments, which could create a new source of funding for the continent’s development.

Read full post here: https://dinarchronicles.com/2024/10/21/restored-republic-via-a-gcr-update-as-of-october-21-2024/

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

Frank26 Article 140 census was done many many years ago and used to calculate the HCL. They're doing the new census now because they're going to introduces a new rate.

Sandy Ingram The average cost of living for one person in Iraq is $754/month. This amount includes rent therefore when Iraq creates a safe environment hundreds of thousands of travelers could easily spend $2,000 a month on average in Iraq. To understand how tourism can help change a country's GDP you only have to look at Mexico.

US Hit $882 Billion, 28-Year High, in Interest Costs on $35.7 Trillion in National Debt

Lena Petrova: 10-20-2024

As the clock ticks and fiscal challenges loom large, the numbers paint a stark picture: the United States has hit a staggering $882 billion in interest costs on its national debt—a 28-year high.

\With a national debt totaling $35.7 trillion, this alarming figure not only raises eyebrows but also sends shockwaves through the economic fabric of the nation.

Let’s break down the implications of these figures and what they mean for the American economy and its citizens.

The revelation that interest costs on the national debt have surged to $882 billion is a wake-up call for policymakers and citizens alike.

As we grapple with this financial conundrum, it’s vital to understand that today’s choices will shape the economic future for generations to come.

We have an opportunity to change course, but it requires collective action, transparency, and a commitment to prudent financial stewardship. With collaboration and a proactive mindset, America can navigate this storm and emerge stronger, avoiding the “Game Over” scenario that we all fear.

https://youtu.be/L0_ZJoQC5dY

Dinar Recaps 20 10/20/24 Dinar Recaps 20 10/20/24

MilitiaMan & Crew News Reporting - Iraq Dinar Updates - Gold - Investor Confidence - Investment Budget

MilitiaMan & Crew News Reporting - Iraq Dinar Updates - Gold - Investor Confidence - Investment Budget

10-20-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

MilitiaMan & Crew News Reporting - Iraq Dinar Updates - Gold - Investor Confidence - Investment Budget

10-20-2024

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=YB_iwjz8Ek4

Dinar Recaps 20 10/20/24 Dinar Recaps 20 10/20/24

More News, Rumors and Opinions Sunday PM 10-20-2024

KTFA:

Clare: In Baghdad Palace.. Presidencies discuss electing a parliament speaker, approving laws and financial issues

10/19/2024

The President of the Republic, Abdul Latif Jamal Rashid, the Prime Minister, Mohammed Shia Al-Sudani, and the Judicial Council, Faiq Zidane, discussed the files of electing a new Speaker of the Council of Representatives, approving important laws, and continuing to finance ministries from the federal budget in Iraq.

According to a statement received by Shafaq News Agency, the attendees at the Baghdad Palace discussed the issue of the presidency of the Council of Representatives and the efforts made to expedite the resolution of this entitlement, and stressed the support of these efforts in a way that contributes to achieving the supreme interest and strengthening the role of the Council of Representatives in integration with the executive and judicial authorities.

KTFA:

Clare: In Baghdad Palace.. Presidencies discuss electing a parliament speaker, approving laws and financial issues

10/19/2024

The presidents discussed the reasons for the delay in presenting some important draft laws prepared by the presidency of the republic and the necessity of including them on the council’s agenda in its upcoming sessions, in addition to reviewing the judicial procedures taken in the context of publishing and media crimes, and monitoring cases of violations against the systematic campaign launched by some suspicious pages to target the presidencies, ministries, and state institutions, and prosecuting their perpetrators in accordance with the provisions of the law.

The meeting also discussed the government measures taken on the financial side, in order to ensure the financing of ministries and governorates from the investment budget and the regional development budget, in addition to preparing the appropriate environment and logistical requirements for the Independent High Electoral Commission, to begin its preparations for holding the parliamentary elections scheduled for next year.

The attendees stressed the importance of conducting the population census as a developmental goal for the country on which economic and social policies, plans and programmes depend.

They also discussed the overall situation on the regional scene, developments in the "Zionist aggression on Palestine and Lebanon", and the efforts made to contain these attacks and strengthen the unity of the political position towards protecting Iraq and its people from any possible escalation. LINK

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Clare: Minister of Planning: The percentage of completion of numbering and inventory operations reached 96% in 15 governorates

10-20-2024

Deputy Prime Minister and Minister of Planning, Mohammed Ali Tamim, announced on Sunday that the numbering and enumeration operations are approaching their end in 15 governorates, indicating that the actual completion rate has reached more than 96%, and work continues 24 hours a day to complete this stage, which is an important and essential stage for the general population census.

This came during the Minister's chairing of the ninth session of the Ministry's Opinion Board, which was held today, Sunday. His Excellency added that the work is witnessing remarkable progress in the governorates of the Kurdistan Region, where the completion rate has reached about 65%.

Tamim said that what has been achieved so far represents a great success for the ministry, in a huge and major project such as the population census project, as actual work began last May, and the ministry was able to complete all requirements and implement all stages in record-breaking periods.

He pointed out that the situation has become reassuring in light of the great efforts made by the General Authority for Statistics and Geographic Information Systems. LINK

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

Frank26 [Iraq boots-on-the-ground report] FIREFLY:
Mr. Sammy...knows someone that attended a big meeting with the Untied States Treasury and the CBI and they said Iraq is coming off the electronic platform. FRANK: The auctions. FIREFLY: And expanding the dinar to go outside of our borders and go international at the end of the year. So all we will see for now on, according to Mr. Sammy, are just steps taking place to get there. But the grand prize will not happen until the end of the year. Mr. Sammy said his friend was there and knows this first hand. FRANK: My heart still holds out for this year though but...these two months are important to make sure everything comes out in order for the citizens to be successful.

Mnt Goat Finance Minister Taif Sami Mohammed stressed the need “to adhere to timetables to achieve economic reforms”. Yes, Iraq is on a timetable, and I don’t think they are going to mess this one up under Al-Sudani as they have in the past.

Iraq Makes Bid for WTO & Increased Reserves at IMF by 50%-Exchange Rate Increase

Edu Matrix: 10-20-2024

Iraq Makes Bid for WTO & Increased Reserves at IMF by 50% - Important financial Moves in Iraq - Exchange Rates IQD and Argentina Pesos.

The video talks about why Iraq's joining the WTO is a significant financial decision and how increasing Reserves by 50% places Iraq in a more controlling interest in the IMF.

https://www.youtube.com/watch?v=ualaHYjN7Us

DINARRECAPS8 10/20/24 DINARRECAPS8 10/20/24

Iraq News Highlights and Points To Ponder Sunday Afternoon 10-20-24

Iraq's Oil Exports To America Drop Significantly In A Week

Energy Economy News - Follow-up The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to America declined during the past week.

The administration stated in a table reviewed by "Al-Eqtisad News" that "the average US imports of crude oil during the past week from 9 major countries amounted to 5.007 million barrels per day, down by 298 thousand barrels per day from the previous week, which amounted to 5.305 million barrels per day."

Iraq's Oil Exports To America Drop Significantly In A Week

Energy Economy News - Follow-up The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to America declined during the past week.

She added that "Iraq's oil exports to America amounted to 70 thousand barrels per day last week, down by 171 thousand barrels per day from the previous week, which amounted to 241 thousand barrels per day."

The administration indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 3.537 million barrels per day, followed by Mexico at an average of 406 thousand barrels per day, then Saudi Arabia at 314 thousand barrels per day, and from Colombia at 223 thousand barrels per day."

According to the table, "the amount of US crude oil imports from Brazil is 154 thousand barrels per day, from Nigeria 134 thousand barrels per day, from Venezuela 134 thousand barrels per day, and from Ecuador at a rate of 35 thousand barrels per day, while it did not import any amount from Libya. 10/20/2024 - https://economy-news.net/content.php?id=48914

Economist Reveals The Value Of Oil Derivatives Smuggled From Kurdistan To Türkiye

Information/Anbar.. Economic expert Rashid Al-Saadi revealed, today, Sunday, that Iraq's losses due to the smuggling of large quantities of oil derivatives from the Kurdistan Region to Türkiye amounted to one billion and 500 million dollars.

Al-Saadi said in a statement to / Al-Maalouma / agency, "The Oil Marketing Company (SOMO) imposed a financial fine on Turkey as compensation to be paid to Iraq for the value of the oil smuggled from the Kurdistan Region to Turkey, amounting to one billion and 500 million dollars, but Turkey is still delaying the process of paying the financial amounts due on it as a result of receiving stolen oil shipments from Iraq."

He added, "Imposing financial compensation on Türkiye came against the backdrop of the halt in oil exports from Iraq to Ceyhan."

Al-Saadi continued, "The halt in Iraqi oil exports to Turkey via the port of Ceyhan has revived the smuggling of oil derivatives from the Kurdistan Region to Turkey, despite the fact that oil exports to Turkey are officially halted by the State Oil Marketing Company (SOMO)."

He pointed out that "the smuggling of oil derivatives from the Kurdistan Region to Türkiye is large and has greatly affected Iraq's oil imports." LINK

Iraq Signs Agreement With Turkmenistan To Supply 20 Million Cubic Meters Of Gas Per Day

Posted On2024-10-19 By Sotaliraq 10/19/2024 The signing ceremony of the agreement and contract for the supply of Turkmen gas to Iraq took place in the capital, Baghdad, today, Saturday.

On the Iraqi side, it was signed by Ziad Ali Fadhil, Minister of Electricity, and on the Turkmen side, it was signed by Maksid Babayev, Minister of State and Chairman of the Gas Company in his country.

The signing of the agreement was the culmination of intensive technical efforts that extended for more than a year, including multiple meetings, mutual visits, and the signing of a memorandum of understanding last year.

The terms of the agreement stipulate that Iraq will be supplied with 20 million cubic meters of Turkmen gas per day, which will constitute a qualitative addition to the country’s energy sources.

The Swiss company (Loxstone Energy), which was contracted under the decisions of the Council of Ministers, is responsible for delivering Turkmen gas to Iraq, using the Iranian pipeline network, relying on the swap mechanism, which ensures the smoothness and efficiency of the transportation process, according to a statement issued by the Iraqi Ministry of Electricity.

Following the conclusion of the agreement, the Minister of Electricity confirmed in a joint press statement with the Turkmen Minister of State that the agreement is part of the government’s program to diversify energy sources and enhance supplies, and the Iranian side’s approval was obtained.

He explained that "this step will contribute significantly to ensuring that gas stations are supplied with the necessary fuel," indicating that "gas stations currently contribute about 60% of the total electricity production in Iraq."

He continued, “We work in the Ministry of Electricity according to a comprehensive vision that combines immediate solutions and long-term strategy,” noting that “importing gas represents a temporary measure until our national gas production projects are completed, self-sufficiency is achieved, and full reliance on our local resources is achieved within the next few years.”

For his part, the Turkmen minister expressed his pride in this strategic partnership, stressing his country's commitment to supporting Iraq's efforts to develop the energy sector.

We are proud to be a reliable partner of Iraq in the energy sector, and we look forward to strengthening economic cooperation between our two countries,” Maksad Babayev said in the joint statement.

In early July, Iran signed an agreement stipulating the exchange of gas between it and Turkmenistan, after intensive negotiations.

Iranian media reported at the time that a contract had been signed to exchange gas between Iran and Turkmenistan, and then supply it to Iraq.

[On October 6, 2023, the Iraqi Minister of Electricity, Ziyad Ali Fadhil, signed a memorandum of understanding with the Turkmen Minister of State for Gas Affairs, to supply Turkmen gas to Iraq.

Iraq imports electricity and gas from Iran for between a third and 40 percent of its energy needs, which is critical, especially in the summer months when temperatures reach 50 degrees Celsius and energy consumption peaks.

[size=45]Iraq is facing difficulty in paying for these imports due to US sanctions that only allow Iran to obtain funds to purchase non-sanctioned goods, such as food and medicine. LINK

Al-Sudani: We Will Reach A Production Stage Exceeding 80% In Three Years[/Size]

Local | 03:05 - 10/19/2024 Mawazine News - Baghdad Prime Minister Mohammed Shia al-Sudani announced today, Saturday, the production of 25% of Iraq's need for antibiotics, stressing that a pharmaceutical production stage exceeding 80% will be reached within three years.

His office stated, in a statement received by "Mawazine News", that "al-Sudani opened, today, two factories for antibiotics (cephalosporins) and immunosuppressive drugs, which are private sector projects, within the program to localize pharmaceutical industries in Iraq, which the government has adopted as a priority in its program."

Al-Sudani was briefed on "the stages of work in the factory, which has adopted the most advanced global technological origins, represented by the Italian company (EMA), which specializes in pharmaceutical industries, and met with the working cadres from various scientific specialties, in addition to reviewing the stages of implementing a new factory for cancer treatment drugs at a cost of (60) million dollars, which is planned to be completed in the coming months."

He pointed out that "this factory was established in light of the government's decisions taken since the beginning of its work," stressing that "the goal of localizing the pharmaceutical industry was among the priorities of the work, and was accompanied by providing facilities to private sector drug producers, in the field of issuing loans and sovereign guarantees to establish pharmaceutical projects.

" Al-Sudani noted that "the products of this factory of antibiotics will cover about (25%) of the country's need, which is important to achieve self-sufficiency," stressing "work to achieve drug security, as it is not permissible to accept that local pharmaceutical products cover 10% of the original drug market, which is worth more than (3) billion dollars."

He explained that "contracts for establishing pharmaceutical projects have increased under the current government by more than 60%, which is a positive indicator for reaching a production stage exceeding 80% during the next three years, especially for life-saving drugs and cancer patients' drugs, which are expensive and difficult to secure on a permanent basis," stressing "work to establish the pharmaceutical industrial city."

Cephalospor ins are life-saving antibiotics, and they will be produced in all their pharmaceutical forms up to the fourth generation, which include suspensions with a capacity of (12) million vials annually, capsules with a capacity of (450) million capsules annually, tablets with a capacity of (600) million tablets annually, and intramuscular and intravenous injections (vials) with a capacity of (40) million injections annually. https://www.mawazin.net/Details.aspx?jimare=256064

Karbala Refinery Shutdown For Maintenance Cuts 40% Of Kerosene Supply

Policy 2024-10-20 1,414 views Sumerian News – Local Confirmed Committee Oil and Gas Parliamentary Committee, today, Sunday, to stop Filtered Karbala Its maintenance led to a 40% cut in kerosene fuel supplies. Iraq.

A member said Committee Oil, Gas and Natural Resources in the Council Representatives Thank you very much, "Musfa"KarbalaIt witnessed a halt in maintenance work, which led to a 40 percent cut in the supply of kerosene, which is necessary for the operation of power plants. Electricity And electric generators, as well as operating several types of vehicles.

Al-Mashkoor stressed that “the government was forced to compensate for the shortage of kerosene and divert the available amount to power generation stations. ”electricity Considering it the most important in terms of serving citizens, stressing “the return of a large part of it, equipping fuel stations, and restoring things to their former state,” according to the newspaper. the morning Governmental. LINK

DINARRECAPS8 10/20/24 DINARRECAPS8 10/20/24

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 10-20-24

Good Afternoon Dinar Recaps,

BRICS SUMMIT TO FAR SURPASS US PRESIDENTIAL ELECTION IN GLOBAL IMPORTANCE, RUSSIAN OFFICIAL CLAIMS

The BRICS summit, not the U.S. presidential election, will be the defining event of global history, a Russian official claims. With BRICS expanding and 65% of its transactions now in national currencies, they argue the world is shifting away from U.S. dominance toward sovereign partnerships.

“I believe that in 2024 the vector of human development will be established in Kazan, and not in the wavering United States,” the official noted.

Good Afternoon Dinar Recaps,

BRICS SUMMIT TO FAR SURPASS US PRESIDENTIAL ELECTION IN GLOBAL IMPORTANCE, RUSSIAN OFFICIAL CLAIMS

The BRICS summit, not the U.S. presidential election, will be the defining event of global history, a Russian official claims. With BRICS expanding and 65% of its transactions now in national currencies, they argue the world is shifting away from U.S. dominance toward sovereign partnerships.

“I believe that in 2024 the vector of human development will be established in Kazan, and not in the wavering United States,” the official noted.

BRICS Over US Election? Russian Official Sees a Decisive Global Shift Ahead
Russian Federation Council Speaker Valentina Matviyenko has emphasized that the upcoming BRICS summit, rather than the U.S. presidential election, will be the crucial event that will shape the future of global history.

In a post on her Telegram channel, Matviyenko argued that “the world has changed significantly” and made it clear that the U.S. election would not hold the same influence over the world community as Washington might hope. She was quoted by Tass as stating:

The upcoming U.S. presidential elections will not be the most important event of the year for the world community and will not determine the further course of history. No matter how much Washington would like it to be. The BRICS summit will be that event.

Matviyenko went on to highlight that the changes taking place are “objective and irreversible processes.” Additionally, she underscored the significance of the summit’s high-level representation and the increasing number of membership applications as indicators that “truly responsible leaders of sovereign states” are aware of BRICS’ growing importance. She further asserted, “I am sure that news from Russia will be followed on all continents.”

BRICS, originally formed in 2006 by Brazil, Russia, India, and China, and later joined by South Africa in 2011, is now expanding further. In January, Egypt, Iran, the United Arab Emirates (UAE), Saudi Arabia, and Ethiopia became full members of the group.

This expansion comes during Russia’s presidency of BRICS. The main event of Russia’s presidency will be the BRICS summit in Kazan, scheduled for Oct. 22-24. In the meantime, the U.S. presidential election is slated for Nov. 5.

Matviyenko also noted:

I believe that in 2024 the vector of human development will be established in Kazan, and not in the wavering United States.

“The three days of the BRICS summit and the negotiations of the leaders of the world majority in the capital of Tatarstan will have a decisive influence on our future,” she opined.

Russia’s State Duma Speaker Vyacheslav Volodin said BRICS is challenging the dominance of Washington and Brussels as more nations seek equal partnerships prioritizing their interests. Volodin noted a global shift away from alliances with the U.S. and its allies, favoring cooperation that respects sovereignty and mutual benefit.

BRICS countries are increasingly using national currencies, with 65% of transactions now conducted in local currencies, while the U.S. dollar and euro account for less than 30%, indicating efforts to reduce reliance on Western financial systems, a trend driven by sanctions and geopolitical tensions.

@ Newshounds News™

Source: Bitcoin News

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SIAM COMMERCIAL BANK LAUNCHES STABLECOIN CROSS BORDER PAYMENTS

Siam Commercial Bank (SCB), one of Thailand’s big five banks, has launched a stablecoin solution for cross border payments, including remittances. The project graduated from the Bank of Thailand regulatory sandbox in October 2024.

The bank partnered with SCB 10X, its venture and innovation arm, and Singapore fintech Lightnet for the launch with custody technology provided by Fireblocks. We’ve requested details about the public blockchain and stablecoins being used, but didn’t receive a response in time for publication.

Cross border payments usually require banks to have pre-funded Nostro accounts at the destination. Using stablecoins this may not be needed. Plus stablecoin transfers are very inexpensive and can happen 24/7.

“By leveraging blockchain technology and stablecoins, we are making cross-border remittances more efficient, reliable, and accessible for everyone,” said Thanawatn Kittisuwan, First EVP & Head of Digital Juristic & Payment at SCB.

Initially the solution targets consumers, but now SCB plans to work on offering it to corporate customers. The big three Japanese banks are looking to do something similar for cross border payments, but they hide the use of stablecoins. Hence, clients initiate bank payments in the usual way.

SCB Tech X also participated in a Hedera DLT stablecoin trial that involved other banks, including Korea’s Shinhan Bank, a Taiwanese Bank, and South Africa’s Standard Bank as an observer.

@ Newshounds News™

Source: Ledger Insights

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🌱 BRIC' PAYMENT CARD? WHAT IS BRIC WHAT DOES IT HAVE TO DO WITH ANYTHING? | Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team RV Currency Facts

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DINARRECAPS8 10/20/24 DINARRECAPS8 10/20/24

7 Valuable Lessons About Saving Money

Sean Bryant Fri, October 18, 2024 GOBankingRates

Growing up with frugal parents, I was often the kid who was teased for having secondhand clothes, not going on vacations, and bringing generic-branded food to school. However, now that I am an adult, I am very thankful for the valuable lessons my parents taught me about saving.It has shaped my views on

money, spending, saving and finances in general. While many of my friends have struggled with debt or excessive consumerism, I have never had to face these issues.

Within this article, I’ll go through some of the valuable life lessons my frugal parents taught me about money.

7 Valuable Lessons About Saving Money

Sean Bryant Fri, October 18, 2024 GOBankingRates

It has shaped my views on money, spending, saving and finances in general. While many of my friends have struggled with debt or excessive consumerism, I have never had to face these issues.

Within this article, I’ll go through some of the valuable life lessons my frugal parents taught me about money.

Distinguishing Needs From Wants

Growing up with frugal parents taught me the valuable skill of distinguishing between my needs and wants. While my friends were often caught up in the latest trends and fads, my parents refused to buy every item I asked for. Instead, they emphasized the importance of prioritizing needs, like a new winter coat, over wants, like the newest toy.

This is something that I have carried through to my adulthood. Now, I try to focus on essential expenses and cut back on frivolous spending. This has helped me make informed financial decisions and avoid unnecessary debt.

How To Budget

I also learned how to budget and the importance of budgeting. I observed my parents tracking what they spent and saved as a child. They were careful not to spend more than they could afford.

If they had a goal, they saved towards it. This early exposure to budgeting taught me how to set my own clear financial goals and how to allocate resources according to those goals.

“Children in frugal households witness budgeting as a regular activity,” said Jake Claver, CEO of Syndicately. “This exposure naturally ingratiates the concept of budgeting in their daily lives.

It becomes less of a chore and more of an integral part of their financial routine. By learning to allocate resources and plan expenses from a young age, children are better equipped to manage their finances effectively as adults.”

Delayed Gratification

Delayed gratification is a lesson I was more reluctant to learn as a child but one I am now thankful for as an adult. When there was something that I wanted to buy, my parents encouraged me to wait and to think about the purchase and what it would mean in terms of longevity, monetary value, and the value I placed on the item. They then encouraged me to save my money and if I still wanted to purchase the item later, I could.