19 "Don't Do It" Purchases

19 "Don't Do It" Purchases Older Adults Are Warning Millennials And Gen Z Not To Make

Alana Valko  Fri, November 22, 2024  BuzzFeed

We've all been let down by a purchase that didn't exactly meet our expectations.

And, in adulthood, buyer's remorse can sting a little harder — especially when those purchases become bigger and have more financial consequences.

Because none of us want to make the wrong bet, I asked older adults in the BuzzFeed Community to share the purchases they'd never recommend Gen Z'ers, Millennials, or any young adult make.

Here's everything they shared:

1."Don't buy extended warranties! Save your money. Over my 40 years of not buying them, there were only two times I might have been able to use one. Especially don't buy them on inexpensive items or on items like laptops where the technology changes so rapidly. Makes no sense."

2."Sort of a niche answer, but maybe someone will appreciate: Whole-life insurance is a rip-off. Super profitable for the company selling it. It's about 5x the cost of basic term life, and it comes with an investment account, but you can create the same setup yourself by buying the cheaper term life for 20% of the cost and putting the remaining 80% you saved yourself into your own investment account (retirement or whatever). You'll come out far ahead of where the whole-life policy would have gotten you."

3."Don't get hyped up by sales. They always tell you that it will end tomorrow, and it will, but the day after tomorrow, there will be another one. Pay when you're ready; prices will generally only go down (except for the new stuff). In some cases, be willing to go refurbished. You will often get something as good as the condition your new item would have been in after one month of usage."

Price tag showing a sale item originally priced at 179.00, now reduced to 129.00 at Manor. Includes barcodes and product codes

(Cont'd) "Fashion is idiotic. Looking trendy is expensive, and the only people you will lose as friends are the superficial ones (win-win). Everything trendy today will be out of fashion in 10 years or less, and this will rotate until the old fashions become the new ones again. Get clothing that is well made and comfortable for you, or at least the minimum needed for a work situation."

4."The latest tech device. Wait six months, and it will be cheaper. You may not even want it anymore, especially once the hype is over."

TO READ MORE:   https://www.yahoo.com/lifestyle/older-adults-sharing-purchases-dont-041603795.html

Some Possible Exchange Appointment Questions compiled by KTFA Members 11-24-2024

Some Possible Exchange Appointment Questions compiled by KTFA Members 11-24-2024

(Dinar Recaps Note: This post is for informational purposes only.  It is not legal, tax or investment advice.  Dinar Recaps advises that everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.) Some of these may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest:  Some you may want to save for your own personal records!)

Clare:  THESE ARE FRANK’S BANKS QUESTIONS THAT YOU MAY WANT TO SAVE FOR YOURSELF...

IF I DEPOSIT MY PROFIT IN YOUR BANK ............ HOW MUCH WILL YOUR FDIC COVER MY ACCOUNT

WILL YOUR BANK CONNECT ME WITH YOUR INSURANCE COMPANIES?.......

WILL YOUR BANK GIVE ME A CARD TO WITHDRAW UNLIMITED AMOUNTS?.............

DO I NEED APPOINTMENTS TO WITHDRAW CASH ?

WILL YOUR BANK ESTABLISH A CASH RESERVE FOR MY ACCOUNTS?......

YO YO YO MR BANKER ...... U ALL GOT "CDARS" TO PROTECT ME WITH ?......FRANK26

 ~~~~~~~~~~~~~~

 THE FOLLOWING QUESTIONS ARE FROM PREMIUM MEMBERS THAT WERE POSTED IN CHAT

1. Will you confirm the validity of my notes in house?

2. What is the spread?

3. Will they pay for the insurance on my money if I leave it in their bank?

4. How will you guarantee that my funds will be safe in your keeping?

 5. Can I have my bank accounts locked down and the only one that can see my accounts is the Manager and I?

6. If I leave my money here for a set time how much interest can I get.?

7. Can I get my dinar exchanged into the USDC. Digital Dollar and sent to my crypto wallet?

8. Will they guarantee to match any better offer from another bank, so I know I am getting the best deal available by banking here?

9. How many accounts can I open up at one time?

10. If I exchange all of my foreign currency through your bank, would you charge me any service fees for the exchanges???

11. What perks above and beyond what you give to regular customers can you provide to me if I deposit with you?

12. What can you offer me that another financial institute won’t? Why should I select your institution?

13. Transfer limits?

14. How much is it to insure my bank accounts from someone hacking into my bank accounts?

15. If I only exchange some now but will be back to exchange a lot more later could I get a better spread on first exchange too?

16. Can you provide space to store gold and silver?

17. What will be your fee..  will it be determined by funds remaining in account, or amount of conversion , or both??

18. Is there a dedicated contact number or person that I can speak with in regards to my account without being routed to a call center?

19. What type of timeframe is There when I request fund to be transferred to a outside Account and is there a transfer limit?

20. If for any reason your bank takes my money and then says the FDIC will help you(I don’t believe they will but not in my lifetime) what kind of policies do you have in place to stop this from happening?

21. Can use this with our exchanges, https://www.intrafinetworkdeposits.com/

22. Can I get separate guarantees at each of your branch banks my money is in by having separate accounts?

23. Can I have a non interest bearing account and only make bank withdrawals from my trust? Is it possible not to have a debit card for my account?

24. What type of protection do you offer for a hacking incident through your security into my account via debit card attack?

25.Is it better to get a credit card with a high balance to get instead of a debit card so no one can get a hold of my accounts, wouldn’t this be better option then a debit card?

26. How many cashier's checks can I get on the first appointment

27. Is there a way to keep local tellers from knowing how much money you have?

28. Will your bank have the necessary equipment in house to validate the notes at the time of exchange.

29. In the news there was some stories that certain bank(s) seemed to freeze accounts over someone’s political position, is that a concern here? (shame we have to ask this now a days) imo

30. Will you offer help with our tax questions?

31. Will you have any objections to come to my attorney’s office and be recorded while doing my exchange?

32. Bank? do you have De La Rue machine?

33. How many interest-bearing accounts can I have for compounding interest from the principal?

34. How many derivatives does your bank hold?

35. Would I have a dedicated person to inform me on the growth of the rate throughout the year?

36. Will we have free access to a wealth management team?

37. Bank? Will I get a no fee account if I deposit my money with you?

38. Can you guarantee that my account would not be used to train tellers?

39. What perks will I get with my account?

40. What high-yield accounts are available at the multi-million $ level?

41. At what deposit point $ (my deposits / others I direct to deposit) will I "NOT" have to pay a spread fee?

 42. Can you get me in SILVER OR GOLD for my currencies and I prefer not to keep them at home, how does it work for you to keep here? any charges, how quickly can I get it.

43. Will you pay for INS over the FDIC if I Keep it in your banks, will you have a group health ins for my family.

44. What type of accounts will be available to me? And can you offer transfers of funds outside the USA?

43. Contact information regarding Canadian Banks?

44. how many accts are insured up to $250.000.00 can I have .....

45. Would this account be fiduciary, meaning I have control?

46. What in-house Wealth Management services do you have to offer, and what information about them is available on line?

47. What must my net worth be, to be a part of your Private Bank and what are your fees based on Assets Under Management?

48. Should we bring in 1 IQD note to establish a relationship with the bank before bring in the rest of the IQD notes?

49. Do you have multicurrency accounts, and can we have one in IQD? If not, can we open one in a foreign account and once in IQD, can we send the deposit currier protected by the bank to deposit in their account as IQD?

50. Can we have that account in IQD tied to a bank card and use it in the US, getting the bank card exchange rates that are so low?

51. Do we need a Wealth Manager prior to our exchange?

52. Would it be best to get the trust set up prior to exchange

53: Can you give us an idea, by assuming only moderate risk what type of return we could get at different levels of investment left with your bank. Also, what would be the time period we would have to agree for, to get these returns.

54. How will the Bank handle a influx of exchange appointments with a unknown timeframe to exchange?

55. If several accounts are opened each with 250,000.00 due to insurance coverage if placed in trusts after one is established. Do they need separate EIN numbers?

56. When I buy my house, cars etc. what is the best rate and terms you will offer me. I believe in OPM if I can get a 1,2,3,% rate on what I borrow yet make 7,8,9,10% or more on my investments. Lets talk or should I say Negotiate! n my investments

57. If you are involved on a higher level investment platform with your bank, On average how often can you pull distributions from the investment? Annually, Qtrly, monthly, etc...

58. Does your bank participate in CDARs?

59. Why should I do business with you over your competitors?

60. If we as a Group come in and exchange our Dinars , will you drop the spread fee for the ones that would leave 50% of our exchange money in your Bank for not less than three years?

61. How soon after depositing or account opened will I be able to access funds, and will there be a limit placed on how much is withdrawn?

62. Can i deposit my ncsn (New small currency notes-lower denoms) in your bank ( floating)

63. How will you protect me & fight for me?

64. Can I open an account & place a few dinar in it, then hold the rest until I'm ready to fold?

65. If I exchange my Dinars here and have it deposited into my account in another Bank, What would the spread be?

66. Can I break a 25K IQD Note into smaller Dinar denominations, the same way one might break a $20 bill into smaller bills?

67. Is faxing used as alternative to emails for secure communication? (Olde school faxing)

68. Does your wealth management team set up electronic(digital) exchange capabilities for me(my investment accounts) with stateside brokerage firms that offer better (no) transaction fees between them and my foreign trading accounts?

69. Is a prudent amount for exchange be based on current debt levels? Should any amount or percentage of funds be held in reserve?? Thank You much.

70. Do you) have beneficiary accounts?

71. Will you be able to create "Clean & Clear Certificates to verify funds are legal.

72. Are you invested in derivatives? If so, which ones, and can the wealth manager give me a list of them and their 10 yr history of performance?

“Tidbits From TNT” Sunday 11-24-2024

TNT:

Tishwash:  Koger: The budget schedules have not reached us yet, and we will start the sessions as soon as they arrive.

Jamal Kojer, a member of the Parliamentary Finance Committee, explained today, Saturday, that the budget schedules have not reached the Finance Committee yet, and we have not been informed of the date of sending them to the House of Representatives.

Kocher added in his statement to {Euphrates News} Agency, "Once the schedules reach the committee, they will be announced and the sessions for the first reading will begin if they include texts. If the schedules are devoid of texts, the committee will begin reading the schedules only."

He stressed that "the committee will work to prevent tampering with the schedules, as happened previously."  link

Tishwash:  The Trade Bank of Iraq (TBI) announced today, Saturday, a plan to open a number of new branches. 

The media advisor of the Trade Bank of Iraq (TBI), Aqeel Al-Shuwaili, said that “the plan included opening an office for the bank in SOMO Oil Marketing Company in Rusafa and a cash deposit office in Karkh in the Red Crescent Society in Al-Mansour area, as well as opening a branch in Karkh in 14 Ramadan Street, in addition to opening a branch in Karkh in Al-Saydiyah area, in addition to opening a branch in the governorate center in Samawah in Al-Baraka Mall.

The statement indicated that “the plan also included preparing to open other new branches, namely the Ziona branch in Rusafa, the Tikrit branch in Salah al-Din Governorate, a branch in Basra Governorate, and the Diwaniyah branch in Qadisiyah Governorate.”  link

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

Tishwash:  The European Union organizes a workshop in Basra on central administration and the wealth distribution system

The European Union organized a workshop in Basra on central administration and the wealth distribution system.

Basra Governor Asaad Al-Eidani stressed during the workshop that the distribution of wealth has limitations for the poorest areas as well as areas with high population density, in addition to areas that were damaged by the wars that Iraq witnessed.

He added that Basra has three resources for distributing wealth in the budget, which are: regional development, border crossing revenues, and petrodollars. Basra may not be given its full revenues, which are according to the constitution, due to the financial situation and challenges facing the country. He pointed out that during the past two years there are debts owed to the governorate that must be given those entitlements.

Al-Eidani explained that "the infrastructure projects being implemented in the province have contributed significantly to improving the economic situation in various housing units, noting that house prices in the province have witnessed a noticeable doubling during the past few years, reaching ten times their previous value.

Al-Eidani pointed out that these improvements reflect the impact of development projects on improving the standard of living and enhancing the value of real estate assets in Basra."  link

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

Tishwash:  MEPS24: US Consul in Erbil highlights promising economic opportunities for Iraq

On Saturday, Steven Bitner, the US Consul General in Erbil, spoke about the "economic opportunities" that will bring significant benefits to both Iraq and the United States.

During a panel discussion at the Middle East Peace and Security Forum (MEPS24) at the American University in Duhok, the Kurdistan Region, Bitner stated that "the strategic agreement between the two countries encompasses various aspects, including economic, cultural, health, and environmental cooperation, as well as strengthening mutual relations."

"For the past twenty years, security and political concerns have dominated the relationship between the United States and Iraq. However, recent efforts have focused on economic opportunities that will benefit both countries," he noted.

Notably, MEPS24 features participation from the President of Iraq, the Speaker of the Iraqi Parliament, the President of the Kurdistan Region, and numerous local, Arab, and international officials.

Organizers of the two-day forum emphasize that it includes panel discussions, seminars, and workshops on the situation in the Middle East and the world. "The forum aims to build bridges of cooperation between participating countries, discuss problems and solutions, and explore the role of society in the Middle East." link

Mot: . Bet You Didn't Know! 

Mot: ..... at Long Last!!!

https://www.youtube.com/watch?v=jRv-fgfLFTk

Decoding the Global Currency Reset (GCR/RV): An Overview

Decoding the Global Currency Reset (GCR/RV): An Overview

Awake-In-3D   November 23, 2024

Uncover the origins, key components, and future implications of the Global Currency Reset (GCR).

The Global Currency Reset (GCR) is more than just a buzzword in global economics—it’s a concept that has sparked both curiosity and debate. Whether you’re new to the idea or have been following its evolution, understanding the GCR requires a clear grasp of its origins, driving factors, and potential outcomes. In this article, we’ll explore how the Global Currency Reset could reshape financial systems worldwide, addressing long-standing economic imbalances and redefining monetary stability.

Introduction: What is the Global Currency Reset?

The Global Currency Reset (GCR) is a transformative framework in global economics, focused on recalibrating the world’s monetary systems to address imbalances, inequalities, and inefficiencies in currency values. For some, it is a beacon of hope, promising economic equity and sustainability; for others, it remains an elusive theory met with skepticism.

In this article, we aim to bridge the gap between newcomers eager to grasp the fundamentals of the Global Currency Reset and seasoned veterans refining their understanding of its intricacies. By exploring the origins, drivers, and implications of the Global Currency Reset, we’ll build a solid foundation for understanding this fascinating and often misunderstood phenomenon.

The Origins of the Global Currency Reset

The concept of a currency reset is not entirely new. Historically, monetary realignments have occurred during times of major global upheaval, such as wars, financial crises, or economic collapses. Key examples include:

• The Bretton Woods Agreement (1944): Established the U.S. dollar as the world’s reserve currency, pegged to gold, and created a system for stabilizing exchange rates.

• The Nixon Shock (1971): President Nixon ended the gold standard, transitioning currencies to a fiat system where values are no longer tied to tangible assets.

The Global Currency Reset builds on these historical precedents while introducing a modern, coordinated, global approach to recalibrating currency values.

Why is the Global Currency Reset Gaining Attention Now?

The growing focus on the Global Currency Reset stems from several converging factors:

• Global Debt Crisis: Soaring national debts have made the current financial system unsustainable for many countries.

• Economic Disparities: The wide gap between developed and developing economies highlights the urgent need for equitable monetary adjustments.

• De-Dollarization: Many nations are actively seeking alternatives to the U.S. dollar as the dominant reserve currency, exploring asset-backed currencies and bilateral trade agreements.

• Technological Advancements: Blockchain and digital currencies enable transparent and efficient global transactions.

These drivers fuel the Global Currency Reset narrative, prompting discussions about whether a reset will restore balance to the international financial system.

Key Components of the Global Currency Reset

While interpretations of the Global Currency Reset vary, several core elements remain consistent in most discussions:

• Currency Revaluation (RV): The revaluation of national currencies reflects their true market value. Advocates argue this adjustment corrects decades of artificially manipulated exchange rates.

• Asset-Backed Currencies: A shift away from fiat currencies to those backed by tangible assets like gold, silver, or other commodities. Proponents assert this increases transparency and stability while reducing inflationary pressures.

• Debt Forgiveness: A restructuring or elimination of unsustainable national debts represents a necessary step to provide struggling economies with a renewed economic framework.

• Unified Financial Systems: The creation of a global framework for fair trade and financial cooperation. This could involve updated International Monetary Fund (IMF) practices or entirely new institutions.

How the Global Currency Reset Will Be Implemented

The implementation of the Global Currency Reset and the associated Revaluation of Currencies (RV) hinges on innovative financial systems that address the limitations of the current fiat-based and centralized monetary structures. A promising vision for the Global Currency Reset/RV involves the integration of gold-backed currencies, blockchain technology, decentralized ledgers, and a multi-polar cross-border payment infrastructure.

• Gold-Backed Currencies: A Return to Tangible Value. The cornerstone of this strategy is the transition from fiat currencies to gold-backed systems. Unlike fiat money, gold-backed currencies derive their value from physical reserves of precious metals, offering transparency and stability. Countries adopting this model peg their national currencies to specific quantities of gold or other tangible assets, ensuring intrinsic value. This approach curbs inflation, restores confidence in national currencies, and reduces reliance on speculative monetary practices.

• Blockchain Technology: A Transparent and Secure Foundation. Blockchain technology provides the ideal infrastructure for a transparent and tamper-proof Global Currency Reset system. By leveraging decentralized ledgers, participating nations digitize gold reserves, with each unit of currency represented by a digital token backed by physical gold held in secure reserves. Blockchain ensures accountability by tracking and verifying all transactions and monetary adjustments in real time. Its transparency reinforces trust, while its security features protect against fraud and cyber threats.

• Decentralized Ledger Systems: Reducing Reliance on Centralized Systems. A decentralized ledger system aligns with the goals of a multipolar world by reducing reliance on centralized systems. This structure ensures equal participation, where all nations, regardless of size or economic power, have an equitable voice in decision-making. Distributed governance manages monetary policies and exchange rate adjustments collaboratively through consensus mechanisms. Decentralization mitigates risks associated with centralized points of failure, ensuring fairness and resilience.

• Multi-Polar Cross-Border Payment Infrastructure. The Global Currency Reset requires a robust and independent payment system to facilitate cross-border transactions without existing centralized frameworks like SWIFT or U.S. dollar hegemony. A multi-polar payment system achieves this by diversifying settlement currencies, using a basket of gold-backed digital currencies from multiple nations instead of a single reserve currency. This infrastructure promotes bilateral and regional trade, enabling nations to trade directly using their gold-backed currencies. Blockchain-enabled systems ensure instant settlements, reducing costs and delays.

• Coordinated Adoption and Integration. For the Global Currency Reset to succeed, adoption and integration will be carefully orchestrated. Pilot programs will test gold-backed digital currencies within national economies to refine the system before full-scale implementation. Participating nations will establish international agreements on currency valuations, reserve audits, and blockchain interoperability. Developing a shared blockchain standard ensures seamless transactions and compatibility across borders, minimizing disruption during the transition and equitably distributing the benefits.

Supporters and Critics of the Global Currency Reset

The GCR community includes a diverse range of supporters, from economists and policymakers to grassroots advocates. Proponents highlight its potential to address global economic inequalities, stabilize volatile currencies, and create a more equitable financial system. However, critics question the feasibility of the Global Currency Reset, citing logistical complexities of coordinating a global reset, risks of unintended consequences such as market instability, and concerns over the motives of those promoting the reset, especially in speculative markets.

Implications for the Global Economy

A successfully implemented Global Currency Reset will initiate a new era of financial stability and cooperation. Key outcomes include economic realignment, where developing nations benefit from fairer currency valuations, boosting trade and investment; reduced debt burdens, where restructuring or forgiving debts frees up resources for infrastructure and development; and a shift in power dynamics, where a Global Currency Reset challenges the dominance of established reserve currencies, redistributing influence among emerging economies. Conversely, the failure of the Global Currency Reset risks exacerbating existing inequalities and deepening economic divides.

The Role of the Global Currency Reset Community

The growing Global Currency Reset community plays a crucial role in driving awareness and fostering dialogue around this complex issue. For newcomers, joining the community provides opportunities to learn, engage, and contribute to discussions about the future of global finance. For veterans, sharing knowledge and mentoring others strengthens the movement’s foundation.

The Bottom Line: A Vision for the Global Currency Reset

The Global Currency Reset is more than an economic concept; it is a vision for a world where financial systems are fair, sustainable, and inclusive. Whether you’re just discovering the Global Currency Reset or have been following its evolution for years, understanding its core principles is the first step toward meaningful engagement.

As we continue this series, we will delve deeper into the mechanics, implications, and controversies surrounding the Global Currency Reset, offering insights for both seasoned experts and curious newcomers. Stay tuned for our next article: Understanding Currency Revaluation (RV): The Basics.

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Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog

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Iraq News Highlights and Points to Ponder Late Saturday Night 11-23-24

An Inside Look At Iraq’s “Fuel Smuggling Market”: New Developments And Smugglers “Suffering”

Economy   2024-11-23 | 1,627 views   Sumerian News-Economy   Economic platforms specialized in energy information in the world revealed that they addressed...Iraq To Iran, and the request to prevent the passage of smuggled fuel tankers through the territory Kurdistan To Iran, after reaching Iraq to deal By raising the cost of a barrel of oil for foreign companies, and restricting export Oil and fuel exclusively through SOMO.

Economic reports said that the Iraqi Ministry of Foreign Affairs requested the authorities to...Iranian Preventing trucks carrying “oil, black oil and other petroleum products” from entering Iran through border crossing areas in the region. Kurdistan Iraq Unless exports are licensed by Iraq's state oil marketing company SOMO, according to a letter dated Nov. 12.

Reports quoting market sources say that a movement Bitumen and other petroleum products through the Haj crossing Imran- Piranshahr has already stopped due to the new directive, but Parviz Khan and Bashmakh border crossings are still exporting bitumen, but if this message is fully implemented, the exports will Iraq Of bitumen will be cut off because these producers do not have a license from SOMO.

The restrictions are expected to remain in place until further notice, although some market participants have expressed doubts about the effectiveness of the strict measures. The directives are expected to affect crude producers in the Kurdistan region, which have relied on local sales since the main export pipeline to Turkey was shut down last year.

Foreign operators working in the Kurdistan They have been transporting crude to local refineries since the pipeline was shut down, but data suggests Kurdish crude is also being smuggled – by truck – across the border to Turkey, Iran and Syria.

Bitumen market participants  in Iraq The smuggling ban, however, comes at a time when domestic supplies are already tight, due to limited availability of raw materials from refineries.

Not only are high margins encouraging Iraqi refiners to blend vacuum distillation residues to produce high-sulfur fuel oil, but the long blockade between Erbil and Sulaymaniyah, which began before the Kurdish elections in October, has made it difficult for bitumen producers to transport vacuum distillation residues from refineries to their production units.

Despite a reduction in freight rates to $10 per tonne last week to encourage bitumen producers to transport vacuum distillation residues, down from $35 per tonne when the ban began, most Kurdish suppliers have refrained from offering new export cargoes in the past three weeks.

A few Indian importers said it was becoming increasingly difficult to secure Iraqi bitumen barrels due to a lack of supply, and some bitumen suppliers have decided to step down in the hope that export values ​​will rise in line with higher Iranian sea freight rates.

Limited availability of spare parts has pushed up production costs for Iraqi bitumen suppliers, with producers saying Iraqi barrels will be offered at above $340 a tonne FOB Bandar Abbas in the coming days, compared with around $322-325 a tonne last week.

Market participants said one major producer in South Iraq It has stopped offering barrels since the end of October because high production costs have made export prices less competitive for major consumers such as India.   LINK

MP Calls For Activating China's Belt And Road Initiative

Economy    MP calls for activating China's Belt and Road Initiative   Information / Baghdad..    Head of the Amal parliamentary bloc, Yasser Al-Husseini, called today, Saturday, to activate the Chinese Belt and Road Initiative to get rid of American hegemony.

Al-Hussaini said in a statement to Al-Maalouma Agency, "China is at the forefront of countries in trade and economy with Iraq, indicating the importance of activating the Chinese agreement and starting to implement the Silk Road to get rid of American hegemony over Iraq's sovereignty."

He added, "The Belt and Road Initiative is of great importance in developing the Iraqi economy and building infrastructure."

He pointed out that "Iraq can exploit its distinguished geographical location as it connects by land and sea the three ancient continents (Asia, Africa and Europe) and will be a point of strength for Iraq in its contribution and participation in this great project." End/25H  LINK

The Central Bank Of Iraq Sells More Than $894 Million In Three Days

Shafaq News/ The Central Bank of Iraq witnessed total sales of hard currency exceeding $894 million in just three working days last week.

Shafaq News Agency correspondent explained that the Central Bank's sales of the US dollar during the past week, during the three days in which the auction was opened, amounted to 894 million, 662 thousand, and 721 dollars, at a daily average of 298 million, 220 thousand, and 907 dollars.

These sales declined compared to the previous week, when total sales amounted to $1,434,982,505.

He added that the highest sales of the week were on Sunday, reaching $308,018,326, while Tuesday recorded the lowest sales of $287,810,781.

The correspondent pointed out that foreign remittance sales accounted for the largest proportion of total sales, amounting to 841 million, 712 thousand, and 721 dollars, representing 94% of total sales, while cash sales were only 52 million, 950 thousand dollars.  LINK

OPEC Secretary General: Crude Oil And Natural Gas Are 'Gifts From God'

Energy     Economy News - Follow-up  OPEC Secretary-General Haitham Al-Ghais stressed that global warming talks should focus on reducing emissions rather than choosing energy sources, stressing during a speech he delivered at the United Nations Climate Change Conference (COP29) in Azerbaijan that crude oil and natural gas are “a gift from God.”

The comments came as world governments seeking to limit the damage caused by global warming in the Caspian Sea country met to try to reach a comprehensive financial agreement aimed at helping countries cut emissions and adapt to the effects of climate change.

Al-Ghais said in a speech he delivered at the conference hosted by Baku, the capital of Azerbaijan, “Oil and natural gas are in fact a gift from God.”

“Today, nearly 180 years after the discovery of oil, specifically here in Baku, the capital of Azerbaijan, oil and its various derivatives still play a role in how we heat and cool our homes, build buildings, and move and travel from one place to another. Oil and gas remain vital to producers and consumers around the world,” Al Ghais said.

“These resources affect how food is produced, packaged and transported, how medical research is conducted and how medical supplies are manufactured and distributed. I could go on and on with an endless number of examples,” he added.

The statements of the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, are in line with the opening speech of the President of Azerbaijan, Ilham Aliyev, in which he responded to Western criticism of his country's oil and gas industry, and also described these resources as a "gift from God."

He pointed out that the world's governments, which set a ceiling for the rise in global temperature during the Paris summit in 2015 of no more than 1.5 degrees Celsius compared to the pre-industrial revolution level, can achieve their climate goals without shifting away from oil.

Related News

Al Ghais also stressed that a balanced energy transition is the key to global sustainability.

"The Paris Agreement focuses on reducing emissions, not on choosing energy sources," he said.

OPEC said technologies such as carbon capture could address the climate change impacts of burning fossil fuels.

Mohamed Hamel, Secretary General of the Gas Exporting Countries Forum, also spoke at the conference on Wednesday in support of fossil fuels.

“As the world’s population grows, the economy expands and human living conditions improve, the world will need more natural gas, not less,” he said.

He added that he hopes that the COP29 agreement on international climate finance will allow support for natural gas projects to help countries transition away from more polluting fuels such as coal.

"The outcome of the conference should facilitate financing of natural gas projects and promote cleaner technologies such as carbon capture, storage and utilization," he added.

"This is essential to achieve energy transitions that are fair and inclusive and ensure that no country is left behind," he added.     https://economy-news.net/content.php?id=50114

A Government Bank In Karbala Embezzles Installment Amounts Paid By A Number Of Borrowers

Saturday, 11-23-2024, Taisir Al-Asadi  The Federal Integrity Commission was able to monitor cases of embezzlement of financial sums in a government bank in Karbala Governorate, indicating that the accused embezzled the amounts of installments paid by a number of borrowers.

The Government Media and Communications Office, while talking about the details of the operation that was carried out under the direct supervision of the judge of the Karbala Investigation Court, which is specialized in examining integrity cases, stated that a team formed in the Commission’s Investigation Office in the governorate,

and within the framework of the follow-up and auditing work it is carrying out at Rafidain Bank - Al-Hussainiya Branch, revealed the embezzlement of an amount of money that was paid by two borrowers, noting that the borrowers’ files were seized along with a calculator statement of the cash payments that showed the embezzled installments.

The media office added that the former bank manager, in cooperation with the loan and counter department officials and the computer employee, embezzled the installment amounts, noting that the accused had previously been arrested after an arrest warrant was issued against them by the competent investigating judge;

following the commission’s discovery of their embezzlement of financial amounts after it had audited (2413) files over a period of three weeks, by organizing fictitious loan transactions to purchase cars, indicating that their statements were recorded and they were presented to the judge of the Karbala Investigation Court specialized in integrity cases, who decided to detain them in accordance with the provisions of Article (315) of the Penal Code.

It is worth noting that the Authority announced on August 21st the arrest of 5 bank employees on the grounds of embezzling a sum of money after reviewing the borrowers’ files, guarantor forms, loan contracts, collection receipts, daily matching statements, calculator tables, and the electronic program. https://non14.net/public/172216

3 Brutal Money Lessons That No One Ever Told You About

3 Brutal Money Lessons That No One Ever Told You About

Heather Altamirano  Sat, November 23, 2024  GOBankingRates

Everyone has to manage bills, household expenses, taxes, and money, yet personal finance isn’t something most people are taught. Financial intelligence learned early can help avoid costly mistakes down the road, but according to Ramsey Solutions, only 26 states require high schoolers to take a course on personal finance to graduate.

Unless there’s someone giving guidance along the way, hard money lessons usually come from trial and error and are often learned too late.

Here are three brutal money lessons that are not talked about enough and how to avoid them.

Spiraling Debt

Americans are racking up more debt than ever. According to the Federal Reserve Bank of New York, consumers collectively owe $1.17 trillion in credit card debt, up 8.1% from last year. Spending can get out of control quickly, and too much debt prevents a comfortable retirement and a strong financial future.

“When you have more debt than you can handle, you often have to tap into your home equity or retirement IRAs to pay off the debt,” said Shelby Rothman, a financial advisor and founder of EnJoy Financial. “Some people are forced to lose their homes or go into bankruptcy, which can cause their credit scores to drop significantly.

 “I’ve seen many people with comfortable wages accrue debt larger than they can handle from buying expensive homes, luxury cars or motor homes. In addition to the debt these items create, they include extra expenses outside of the loan that the budget isn’t prepared for.”

To help avoid this pitfall, live within your means and create a realistic budget that isn’t credit card dependent.

“Understanding the full cost of ownership is the biggest way to prevent debt from mounting. Taking a loan out on an expensive motor home that comes with insurance, maintenance fees, and repairs can cripple your finances,” said Rothman. In addition, she believes it’s vital to plan for unexpected costs and mishaps by at least $1,000.

TO READ MORE:  https://www.yahoo.com/finance/news/3-brutal-money-lessons-no-170017457.html

Seeds of Wisdom RV and Economic Updates Sunday Morning 11-24-24

Good Morning Dinar Recaps

STELLAR AND THIS NEW COIN: THE DEFI DUO WITH POTENTIAL TO MULTIPLY A CRYPTO PORTFOLIO

A seasoned crypto and a rising DeFi star are capturing investor attention, offering potential for major portfolio growth.

Investors are eyeing a dynamic pair shaking up the decentralized finance scene. One is a seasoned cryptocurrency with a solid track record. The other is a fresh player gaining rapid attention.

Together, they could offer a compelling opportunity to amplify investment returns. This duo might be the catalyst for significant portfolio growth.

Early access to ZDEX: A token with 1000x potential

The ZDEX presale is officially underway, offering early adopters a prime opportunity to invest in a rising DeFi star at an entry price of just $0.0019. By the end of the presale the price will increase to $0.0029, meaning that ZDEX will appreciate 50% even before it gets listed.

ZDEX is the cornerstone of ZircuitDEX, a next-generation decentralized exchange (DEX). Unlike many junk coins, DEX tokens are built to thrive, thanks to their high demand and real utility.

Take Raydium (RAY), which skyrocketed 1790% in a year, or Uniswap, starting at $1 and now over $8, an 8-fold price increase. ZDEX token has similar 1000x potential, ready to reward those who get in early.

Built on the ultra-fast Zircuit Layer 2 chain, ZircuitDEX is crafted to meet the needs of both new and seasoned DeFi traders with its key features:

▪️Lightning-fast transactions for smooth trading experiences

▪️Minimal slippage to ensure trades occur close to desired prices

▪️Near-zero fees for cost-effective transactions

Fully EVM-compatible, ZircuitDEX ensures smooth integration with Ethereum tools, while its implementation of zero-knowledge proofs (ZK proofs) provides enhanced security—a critical feature as market participants increasingly prioritize safeguarding their assets.

Riding the meme coin wave
ZircuitDEX’s built-in meme coin launchpad gives investors a front-row seat to the next viral crypto sensations. With exclusive access to promising meme projects, ZDEX is ready to replicate the explosive success of tokens like BRETT, which soared over 14,000%! As ZircuitDEX nurtures a vibrant, community-centered approach, it’s primed to become the hotspot for high-growth meme tokens.

Efficiency and profitability for liquidity providers
For liquidity providers, ZircuitDEX delivers up to 500x capital efficiency compared to traditional decentralized exchanges. Concentrated liquidity pools allow LPs to earn higher returns with lower capital input, while automated strategies streamline trading, making it easier for users to optimize their holdings. ZDEX token holders also gain governance rights, exclusive airdrops, trade incentives, and staking rewards—adding further value to early participation.

As anticipation builds, ZDEX is quickly becoming a must-watch in the DeFi space, with investors eager to capitalize on its potential for outsized returns.

Stellar: Decentralized network enhancing global financial collaboration
Stellar (XLM) is a decentralized, open-source payments network using blockchain to enable quick, low-cost fund transfers.

It does not favor any national currency and features its own cryptocurrency, Stellar Lumens. Since 2014, Stellar has processed billions of transactions and formed major partnerships. It allows transfers of any currency type, including digital versions of national currencies and cryptocurrencies like Bitcoin.

Unlike many cryptocurrencies aiming to replace financial systems, Stellar seeks to enhance them, offering a unified network for collaboration. Individuals can transfer funds globally using Stellar apps, and companies can develop blockchain applications or use the network for payments and currency conversion. The potential of Stellar’s technology makes it an attractive option in the current market cycle.

Conclusion
In conclusion, although established coins like XLM have less short-term potential during this 2024 bull run, ZircuitDEX offers an exceptional opportunity with 500X capital efficiency, lightning-fast transactions, and zero slippage. The ZDEX Token’s 70% presale discount and potential 500% returns upon launch make it a promising asset to enhance portfolio growth.

@ Newshounds News™

Source:  Crypto News

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THE FUTURE OF NFTS: A TRANSFORMATION, NOT A TOMBSTONE

What’s next fro non-fungible tokens? What’s shaping the industry going into potentially favorable 2025 and beyond?

As we navigate the landscape of digital assets, the question looms large: Are NFTs dead?

The fervor that once engulfed the NFT market has certainly dimmed since the euphoric days of 2021, often compared to tulip mania. However, rather than writing an epitaph for NFTs, we should consider a transformative future shaped by evolving perceptions and real-world utility.

The Loyalty of Web3 Audience
The first challenge that non-fungible tokens (NFTs) face is the inconsistency of the Web3 community. This community is very responsive to market conditions and quickly jumps from one trend to another and changes its loyalty overnight.

The market was cruel for NFTs, indicating that many enthusiasts came to participate in temporary hype rather than for long-term value. As the hype faded, interest waned, leading to disgruntled investors and deserted businesses.

When the reality set in, a number of the Web3 aficionados went shopping for bigger fish, and NFTs soon became out of favor, exposing the market’s appetite for bubble factors instead of fundamentals.

Web2’s Shift: Brands and Normies Depart
Simultaneously, the Web2 audience—once eager to explore blockchain and NFTs—has also moved on. Initially brands that adopted NFTs for promotion purposes have now lost interest in NFT amidst falling prices and the new narrative gaining the center stage.

The discussions about NFTs, primed before, remain dormant and have no elasticity to gain mainstream media attention. For the average consumer, NFTs are just a faded trend, just as the overemphasis on new technologies.

The Future Ahead?
So, what does this portend for the future of NFTs? In Web2, it is obvious that digital art is the new order, and NFTs are still necessary as a medium for auctioning and distributing this art.

Nevertheless, this is probably unlikely to start the next bull market. It is true that profile picture projects (PFP) will always amuse a select few, but they, too, are unlikely to trigger a mass market revival. Bull markets thrive on innovation, where originality intersects with scarcity, driving demand beyond supply.

The burning question is: what could give rise to this newness?

NFTs as the Core Infrastructure
Rather than a relic of a bygone era, NFTs hold the potential to be vital components of blockchain infrastructure. They can enhance identity protocols, facilitate social finance, enrich gaming experiences, and tokenize real-world assets.

When viewed through this lens, NFTs are as fundamental to blockchain as the ERC-20 standard is to decentralized finance(DeFi).

Imagine the scenarios: Instead of real estate parcels having only one owner, anyone can own a fraction of the property. This means that a house deed can be put on sale, and people can buy the NFT and trade it permissionless, making real estate transactions simpler.

Alternatively, NFT-backed real estate investments could allow investors to easily buy into real estate projects without owning the actual property. Fractional ownership might even allow groups to purchase vacation homes or shared assets, like a pair of skis, easily.

Moreover, NFTs are set to redefine community relationships through membership access, perks, and value exchange. A myriad of applications will emerge, such as health records management, credit history management, and embedding NFTs into everyday life.

Conclusion: Transformation is the Key to Success
While the NFT market as we know it may be undergoing a reorientation phase, it is far from dead. Instead of wailing its past, we should focus on the shifts that will redefine our understanding of NFTs. By recognizing their potential beyond digital collectibles, we can pave the way for a future where NFTs become integral to our digital lives—ushering in a new era of innovation and opportunity.

@ Newshounds News™

Source:  CryptoPotato

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DONALD TRUMP SELECTS PRO-CRYPTO SCOTT BESSENT AS TREASURY SECRETARY

▪️Donald Trump has nominated Scott Bessent, a hedge fund manager and crypto advocate, as Treasury Secretary.

▪️Bessent’s pro-crypto stance sparked optimism of a shift toward balanced regulation that would help the industry grow.

▪️His nomination is seen as a potential turning point for fostering innovation and clearer policies in the crypto space.

Donald Trump, the President-elect of the United States, has nominated Scott Bessent as Treasury Secretary for his administration. This decision has generated enthusiasm in the emerging industry due to Bessent’s pro-crypto reputation.

Bessent and Cantor Fitzgerald CEO Howard Lutnick had been considered strong favorites for the position. However, Lutnick was eventually nominated as Commerce Secretary.

Crypto Industry Welcomes Scott Bessent’s Nomination for Treasury Secretary
In a November 22 announcement on Truth Social, Trump praised Bessent as the ideal candidate to support his administration’s economic goals. The President stated that Bessent will play a pivotal role in strengthening the US economy, fostering innovation, and maintaining the dollar’s status as the global reserve currency.

“Scott will support my policies that will drive US competitiveness, and stop unfair trade imbalances, work to create an economy that places growth at the forefront, especially through our coming world energy dominance,” Trump added.

Wall Street veteran Bessent, who founded the international macro investment company Key Square Group, brings extensive experience to the role. He had previously served as the chief investment officer for the prominent investor George Soros.

While President Trump’s announcement did not directly reference cryptocurrencies, many in the digital asset space view Bessent’s appointment as a positive sign.

 In past statements, Bessent has described crypto as a symbol of financial freedom. He also called Bitcoin an alternative investment for younger investors disillusioned with the traditional financial system.

“I have been excited about the president’s embrace of crypto and I think it fits very well with the Republican Party, crypto is about freedom in the crypto economy is here to stay,” Bessent stated.

His pro-crypto stance has led many to believe his leadership could encourage a more balanced approach to digital asset regulation. This would contrast with the outgoing administration’s enforcement-heavy tactics, such as its controversial sanctions on decentralized platforms like Tornado Cash.

Indeed, crypto industry leaders have responded enthusiastically to Bessent’s nomination. Ripple CEO Brad Garlinghouse commended Bessent’s nomination, calling it a win for innovation. He noted that Bessent’s leadership could mark a turning point for crypto-friendly policies in Washington.

Similarly, Kristin Smith, CEO of the Blockchain Association, highlighted the importance of Bessent working with Congress to establish clear regulations, ensure fair tax treatment, and protect self-custody rights for digital assets.

“Critical to this nomination would be working with Congress on a regulatory framework for digital assets, protecting the right to self custody, pushing for clearer tax treatment of digital assets, and working closely with industry experts to protect our nation’s security,” Smith remarked.

@ Newshounds News™

Source: Be In Crypto    

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UNLOCKING PERSONAL SOVEREIGNTY: YOUR GUIDE TO TOTAL FREEDOM  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

🌱ELON MUSK'S BEDSIDE TABLE SECRETS REVEALED!  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Thank you Dinar Recaps

News, Rumors and Opinions Sunday AM 11-24-2024

Dinar Recaps Note:  We are so sorry to report that Gary from PTR ( A private RV-info site) has passed away Saturday evening. It is so sad that Gary -like many did not make it across the RV finish line. Our prayers are with his family and friends and may he rest in peace.

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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 Sun. 24 Nov. 2024

Compiled Sun. 24 Nov. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Sat. 23 Nov. 2024: A very credible source said that the RV would occur prior to or around Thanksgiving.

Sat. 23 Nov. 2024 Wolverine: “We are definitely going to have a good Christmas. Just letting you know that I’m now under NDA. I cannot talk right now so I cannot hurt the process. Please respect my NDA guys. We are now definitely close.”

Sat. 23 Nov. 2024 FACTOR 2: THE QUANTUM FINANCIAL SYSTEM (QFS) …Carolyn Bessette Kennedy on Telegram https://t.me/CarolynKennedy_Bessette

Patriots, the Quantum Financial System is here, and it’s about to flip the entire global banking system on its head. This isn’t just an upgrade—it’s a revolution. Say goodbye to corruption, manipulation, and the stranglehold of the elites.

The Key Elements of the QFS: Gold-backed currencies and assets: No more fiat lies. Every currency will be backed by real gold.

Digital certificates tied to physical gold: Exchange your digital assets for actual gold. The globalists can’t rig this system—gold is the great equalizer.

Chinese Elders’ Gold as a global reserve: Yes, the cabal has been outplayed. This gold is supporting currencies worldwide, ensuring stability and fairness for ALL nations.

Asset-backed fund transfers via STARLINK: Using GPS technology, funds are now tracked and transferred with unmatched security and speed. STARLINK isn’t just about satellites—it’s the weapon of financial liberation.

Quantum Computing: The End of Bank Corruption: 3.5 trillion frames per second processing power: Instant payments. No delays. No excuses.

Independent, decentralized banking monitoring: The days of secret accounts, offshore hiding, and elite manipulation are OVER.

Three main QFS powerhouses: Swiss Banking Group, BRICS-Indus Alliance, U.S. Space Force – That’s right. The U.S. military is at the helm, ensuring the Deepstate has NO chance of infiltrating this system.

Photon technology: Cutting-edge advancements make the QFS impenetrable. The globalists have NOTHING that can rival this.

ISO-certified digital currencies only! Only currencies that meet the strictest standards of security and fairness will operate in this new system.

Central Bank Digital Currencies (CBDCs): But NOT like the cabal’s version. These are gold-backed, controlled by patriots, and designed to serve the people—not enslave them.

Gold Bonds: A powerful tool to reset the financial system and ensure lasting prosperity.

This is the Storm, Patriots: The QFS doesn’t just change the game—it obliterates the Deepstate’s ability to manipulate, control, and steal from us. The days of the cabal using money as a weapon are over.

This is our system. Our future. Our victory. Spread the word. The Quantum Financial System is here, and NOTHING can stop what’s coming.

Read full post here:  https://dinarchronicles.com/2024/11/24/restored-republic-via-a-gcr-update-as-of-november-24-2024/

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

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

Nader From The Mid East  I don't want you to get excited and think we're rich already because we're not yet.  Remember what I always say, in January things always happen in January with Iraq...It can happen before.  It can happen after too.  But me, I have a strong believe January we're going to see very good news.

Militia Man  When they change the value of their currency, things will become cheaper...The bottom line is if they raise the value, let's say they come back to where they were before it was shut off during the Saddam Hussein era at around $3.22, they'll be able to pay for a lot of products and materials for a lot cheaper.  That is going to be a  powerful thing.  That's going to be a benefit to purchasing power...to the citizens.

5 Banks On HIGH ALERT As S&P 500 Signals MAJOR Crisis!

Atlantis Report:  11-22-2024

The US banking system's fragility has been brought to attention once again. The S&P 500 has issued a chilling warning that has sent shockwaves through the banking industry.

The renowned index tracking agency has downgraded five major regional banks. This move has raised alarm bells across the sector, with many citing mounting concerns over their exposure to the commercial real estate market and looming loan maturities.

The recent development has raised concern about the possibility of another banking crisis similar to the one that occurred during the Great Recession. Today, we will examine the imminent banking crisis and the fate of these five regional banks.

https://www.youtube.com/watch?v=ID5hHtfy-0E

The Total Market Melt-Up has Begun

Heresy Financial:  11-22-2024

TIMECODES

0:00 Boom or Bust?

0:42 Why Asset Prices are Going Up

2:58 What is Causing the Melt-Up

6:07 Why is the Money Supply Growing

8:40 How Govt Continues to Increase their Debt

9:31 Inflation

10:29 Debt Will Be More Expensive

https://www.youtube.com/watch?v=Eu5qtUGP16c

Dollar Devaluation Exposed, Gold up 800% in the Last 24 Years

Dollar Devaluation Exposed, Gold up 800% in the Last 24 Years

Kitco News:  11-22-2024

In a compelling analysis of the market landscape, Rich Checkan, President and COO of Asset Strategies International, has emphasized the remarkable performance of gold over the past 24 years, showcasing an astounding increase of over 800%.

This significant rise makes gold a standout asset, outperforming all major indices this millennium, and raising critical questions about the stability of traditional investments amidst the devaluation of the U.S. dollar.

Checkan shared his insights during an interview with Kitco News anchor Jeremy Szafron at the New Orleans Investment Conference, where he outlined the implications of economic policies and geopolitical tensions on various investment avenues. His remarks reflected a growing concern about the “real” performance of equity markets, which have been buoyed by the apparent rise in stock prices but are increasingly questioned due to the U.S. dollar’s loss of purchasing power.

The crux of Checkan’s argument lies in the persistent devaluation of the U.S. dollar, a phenomenon that has profound implications for investors.

As the dollar weakens, its purchasing power diminishes, rendering traditional assets like stocks, bonds, and real estate less reliable as hedges against inflation. In stark contrast, gold emerges as a durable safe haven, with Checkan noting that it is often viewed as a “d**d asset” for its lack of interest or dividends. Yet, its remarkable appreciation underscores its role as a stronghold during economic uncertainty.

“In the last 24+ years, gold is up 818%,” Checkan pointed out, highlighting its resilience in the face of financial instability. This striking statistic serves as a reminder to investors that sometimes, alternative assets may provide greater security and return potential than conventional investments.

The conversation also delved into how geopolitical tensions and government fiscal policies can directly impact the precious metals market. As nations grapple with conflict, instability, and economic changes, investors often flock to gold for its historical status as a store of value. Checkan noted that this behavior is particularly pronounced in environments where uncertainty reigns, making gold an attractive refuge.

Moreover, with ongoing discussions about inflation rates, interest rates, and expansive monetary policies, the interaction between fiscal measures and precious metals cannot be understated. The policies implemented by governments worldwide, particularly those related to money supply and stimulus measures, have significant ramifications for gold prices as they influence market confidence and investor behavior.

While Checkan primarily focused on gold, he also touched on the burgeoning realm of cryptocurrencies, specifically Bitcoin. As digital currencies gain traction, the perception of value and the diversification of portfolios continue to evolve.

Bitcoin, often dubbed “digital gold,” has attracted attention as both a speculative asset and a potential long-term store of value. Checkan’s outlook on Bitcoin encapsulates a broader conversation about the future of currencies and the ways in which they can coexist with traditional assets like gold.

As investors sift through the complexities of today’s financial landscape, Checkan’s insights serve as a crucial framework for understanding the dynamics of wealth preservation and growth. The impressive 800% increase in gold over more than two decades starkly contrasts with the volatility observed within equity markets. For many, gold’s enduring allure as a safe haven asset will continue to shine brightly, particularly in times of economic turbulence.

With Checkan’s observations echoing the sentiments of many financial experts, it appears that diversifying portfolios to include precious metals may not only be prudent but necessary.

As the world grapples with the interplay of currency fluctuations, geopolitical unrest, and inflationary fears, gold stands out not just as a commodity, but as a cornerstone of modern investment strategies.

https://youtu.be/VYEULHCZrYo

Some “Gold-Backed” News Saturday 11-23-2024

Judy Shelton: "Why Don't We Use Our Gold As Collateral For A New Treasury Debt Instrument"

Arcadia Economics:  11-23-2024

Judy Shelton: "Why Don't We Use Our Gold As Collateral For A New Treasury Debt Instrument"

Former Trump economic advisor Judy Shelton has talked a lot about bringing gold back into the monetary system in the US.

And while she has not yet been officially brought back aboard Trump's team, it sure is fascinating to imagine what could happen if she is.

Because in a recent interview with David Morgan of The Morgan Report, in addition to sharing some fascinating monetary history, including how even Fed officials like Paul Volcker and Alan Greenspan agree that 2% inflation is far from the definition of stable, she also proposes the idea of using the nation's gold as collateral for a new treasury debt instrument.

Which is fascinating to hear, especially at the same time when the eastern half of the world continues to express a desire to turn to gold in place of treasuries.

So whether you're a monetary advocate, historian, or someone who just wants to navigate the changes to our monetary system that are coming, you're really going to enjoy this interview.

And to hear David Morgan talk with Judy Shelton, just click to watch the video now!

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

Texas proposes gold and silver-backed currencies to compete with fiat money

Kitco News:  11-23-2024

(Kitco News) – In a quest for sound money, a Texas lawmaker has filed two bills that, if passed, would create gold and silver-backed transactional currencies, backed 100% by the underlying asset, that would serve as legal tender in the state.

According to a report from the Tenth Amendment Center, Texas State Representative Mark Dorazio filed House Bill 1049 and House Bill 1056 on November 12, two bills with similar language that would add provisions to different sections of the Texas legal code.

“Under the proposed law, the Texas Comptroller would issue gold and silver specie (coins) through the Texas Bullion Depository and also establish gold and silver transactional currency defined as ‘the representation of gold and silver specie and bullion held in the pooled depository account,’” wrote Mike Maharrey, Communications Director at the Tenth Amendment Center. “The Depository would be required to hold enough gold and silver to back 100 percent of the issued currency.”

If approved, the bills would enable “Holders of gold and silver specie and currency to use them as ‘legal tender in payment of debt,’ in the state of Texas,” he noted. “The gold and silver-backed currency would be electronically transferable to another person. Gold and silver-backed currency would be redeemable in specie or at the spot price of gold in U.S. dollars minus applicable fees.”

Said differently, the passage of either bill would allow anyone in the state to conduct business transactions using gold or silver. 

“The passage of this legislation would create a sound money alternative to U.S. dollars in both physical and electronic form,” Maharrey said. “Using gold and silver-backed transactional currency, any person or entity would be able to do business using a debit card that seamlessly converts gold and silver to fiat currency in the background. Private individuals and businesses would be able to purchase goods and services using assets held in the Texas Gold Depository in the same way they use dollars held in a bank today.”

He stressed that the ability to use gold and silver-backed transactional currencies “would give people a way to shield themselves from the rapid loss of purchasing power inherent in the fiat dollar.” 

“Over time, making gold and silver available for regular, daily transactions by the general public could have a wide-ranging impact,” Maharrey noted. “Professor William Greene is an expert on constitutional tender and said in a paper for the Mises Institute that if people in multiple states actually start using gold and silver instead of Federal Reserve notes, it would effectively nullify the Federal Reserve and end the federal government’s monopoly on money.”

According to Greene, “Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a ‘reverse Gresham’s Law’ effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes).”

“As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions,” Greene added

“Gresham’s Law holds that ‘bad money drives out good,’” Maharrey explained. “For example, when the U.S. government replaced silver quarters and dimes with coins made primarily of less valuable copper, the cheap coins drove the silver out of circulation. People hoarded the more valuable silver coins and spent the less valuable copper money.”

This led him to ask, “So, how do you reverse Gresham?”

“The key is to make it easier to use gold and silver in everyday transactions,” he said. “The reason bad money drives out good is that governments put up barriers to using sound money in day-to-day life. That makes it more costly to spend gold and silver and incentivizes hoarding.” 

“When you remove legal and tax barriers, you level the playing field and allow gold and silver to compete head-to-head with Federal Reserve notes,” he added. “On an even playing field, gold and silver beat fiat money every time.”

Maharrey highlighted the U.S. Consitution to strengthen his case, noting that Article I, Section 10 decrees that “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.”

“In most states, debts and taxes must either get paid with Federal Reserve Notes (dollars), authorized as legal tender by Congress, or with coins issued by the U.S. Treasury — very few of which have gold or silver in them,” he said. “The creation of a transactional gold and silver currency would take another step toward that constitutional requirement, ignored for decades in every state. Such a tactic would undermine the monopoly of the Federal Reserve System by introducing competition into the monetary system.” 

The proposed bills will be assigned to Texas House committees when the 2025 legislative session begins on Jan. 14.

Texas gold-backed digital currency could aid in Bitcoin adoption

While Maharrey is looking to get gold and silver recognized as transactional currencies in their own right, the Texas legislature is also making progress on legislation to create a blockchain-based gold-backed token, which could benefit not only the yellow metal but also Bitcoin. 

In April 2023, two Texas lawmakers, Senator Bryan Hughes and Representative Mark Dorazi, introduced two separate bills for creating a state-issued digital currency backed by gold. And while the legislation is still working through the state’s Congress, one lawmaker thinks that once launched, the proposed gold-backed digital currency could help boost cryptocurrency adoption. 

As reported by Cointelegraph, Cody Harris, a Republican Party member of the Texas State House of Representatives, sat down for a fireside chat with Coinbase’s David Duong at the North American Blockchain Summit on Thursday and provided an update on the stats of the gold-backed token. 

“This [state-issued digital currency backed by gold] is something safe that people can get their feet wet with,” he said. “It’s more of a stepping stone to owning Bitcoin than competing with it or taking the place or something like that.”

Under the proposed plan, each digital currency token will represent a fraction of a troy ounce of gold held in trust and will enable holders to accumulate and spend gold via blockchain, removing a barrier that makes it difficult to utilize gold for daily transactions. 

Harris said the benefits of the token are twofold. Not only will it simplify the use of gold for everyday use, but it could also help skeptics become more comfortable with cryptocurrency by serving as a government-issued digital alternative to fiat, which is a stepping stone to helping them open to the idea of using decentralized assets like Bitcoin. 

For those who are hesitant to acquire BTC or explore crypto, he suggested that a state-issued coin would provide a higher “comfort level” than tokens issued by startups. 

But not all digital tokens are seen as equal in his eyes, with Harris saying that digital fiat – also known as central bank digital currencies (CBDCs) – would have an overall negative impact on the state and the public at large. 

“I think we would all agree that a CBDC is detrimental to the nation and the state of Texas,” he said, referring to the variety of threats CBDDs pose, such as surveillance and privacy concerns. 

Harris called for the crypto community and broader public to take an active role in the CBDC and digital asset conversation to make sure they aren’t saddled with a dystopian currency that enables things like social credit scores. 

“I think it makes it easier for us who are pro-Bitcoin to have conversations about why someone should change their perspective on it,” he said. “If we start at a CBDC, is it the goal of some parts of the US government? So let’s lock arms together and make sure that that doesn’t happen.”

https://www.kitco.com/news/article/2024-11-22/texas-proposes-gold-and-silver-backed-currencies-compete-fiat-money

Iraq Economic News and Points to Ponder Saturday Afternoon 11-22-24

Because It Contains A Political Aspect.. Parliamentary Wealth: The Oil And Gas Law Faces Difficulties
 
 November 21 17:58  Information / private..  Member of the Parliamentary Oil, Gas and Resources Committee, Ali Abdel Sattar, confirmed today, Thursday, that the Oil and Gas Law has been facing difficulties since 2008.

Abdel Sattar told the Maalouma Agency,  “The oil and gas law faces difficulties within the House of Representatives because it contains a political aspect between the region and the center.”

He added, "The law regulates financial matters and oil management for all governorates, especially the governorates that produce oil and gas," noting that  "the reason the law was suspended was because it contained controversial points with the region."

He explained that "the law is still included in the government and has not been sent to the House of Representatives despite the ongoing dialogues and discussions between the Baghdad government and the regional government."

He continued, "The dispute still exists between Baghdad and Erbil over the oil file, and  we are waiting for it to be resolved and for the law to be sent to the House of Representatives in order to discuss and approve it." 
 
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Census Results In Karbala Show The Oldest Woman In Iraq

Friday 22 November 2024 16:58 | General Number of readings: 169   Census results in Karbala show the oldest woman in Iraq (Pic 144 years old) 

Karbala/ NINA / The results of the general population census in the holy Karbala governorate showed the oldest person from the governorate’s residents, born in 1880, who is 144 years old  Shocked . She is the citizen Anoud Mazyan Hadi. /End   https://ninanews.com/Website/News/Details?Key=1170450

Economist: The Total Cost Of The General Population Census Amounted To 951 Billion Dinars

Money and business   Economy   Economic expert Nabil Al-Marsoumi revealed, today, Friday (November 22, 2024), the financial and economic cost of the general population census.

Al-Marsoumi said in a post on Facebook that “the total financial and economic cost of the general population census amounted to 951 billion dinars.”

He explained that "the direct financial cost of the census amounted to 459 billion dinars, while the cost of suspending official work amounted to 492 billion dinars."

Al-Marsoumi added, "The economic cost is increasing due to the halt of public and private economic activities, and many individuals and local communities are harmed as a result, especially the poorest groups who depend on earning their living on a daily basis in normal times and do not save any resources to use during the curfew."

The economic expert pointed out that "the population census could have been conducted without the need to impose a comprehensive curfew in the country, even if that led to extending the data collection period for several more weeks, in order to save costs and take into account vulnerable groups and workers in the private sector."  153 views    https://economy-news.net/content.php?id=50106

Iraqi Exhibitions Participate In The UFI Conference In Germany

Friday 22 November 2024 14:40 | Economic Number of readings: 203  Baghdad / NINA / The Iraqi General Company for Exhibitions and Commercial Services participated in the World Congress of the International Federation of Exhibitions "UFI" in Cologne, Germany, which started last Wednesday and will continue until tomorrow, Saturday.

A statement by the company indicated that "Mustafa Nizar Juma, General Manager and Chairman of the Board of Directors of the company, participated in the activities of the summit of the union, which includes 870 members of the organization from 87 countries around the world. The statement stated

that the conference is held at "Cologne Messe Confex", which is one of the largest trade fair centers in the world, and provides a unique platform for exclusive communication, professional development and exchange of ideas between members of the International Federation of Exhibitions and leaders of the exhibition industry in the world.

On the sidelines of the conference, the Director General of Iraqi Exhibitions met with a group of international exhibition organizers, the head of the regional office in the Middle East and North Africa in the UFI, and reviewed with them the exhibition activities of the Iraqi General Company for Exhibitions and Commercial Services, and discussed preparations for the upcoming 48th session of the Baghdad International Fair, in addition to discussing the criteria that must be taken into account regarding the company's membership in the UFI. /  https://ninanews.com/Website/News/Details?key=1170441

Economist: Government Should Exploit Rising Oil Prices And Implement Sound Financial Management

Time: 2024/11/22 13:54:37 Read: 1,313 times  {Economic: Al Furat News} An economic expert called on the government to exploit the circumstances of rising oil prices and implement sound financial management.

Rashid Al-Saadi told Al-Furat News Agency: "The rise in global oil prices is due to the impact of political circumstances. With the intensification of the Russian-Ukrainian war and the challenges facing the region, in addition to the decision of the International Criminal Court regarding Netanyahu and his Minister of War, and Israel's threats to Iraq and the pressure in the region, oil importing companies are being prompted to take precautions and be careful, and the political and security factor is the decisive and influential factor in the rise in oil prices."

He explained that "Iraq's benefit from this rise is that every dollar in which oil rises serves Iraq by no less than a billion dollars annually and strengthens its budget according to the size of its production."

Al-Saadi stressed, "The government must exploit the circumstances and the rise, because as soon as there is stability in the near or distant future, oil prices may drop significantly. This is a call for the government to manage the state's finances in a rational manner."   LINK

Oil Prices Rise More Than 6% In A Week.. Brent Exceeds $ 75 Per Barrel

Energy   Economy News - Follow-up   Oil prices jumped about 1% at settlement on Friday, hitting a two-week high as geopolitical risk premiums rose in the market amid an escalation in the war in Ukraine this week.

Brent crude futures rose 94 cents, or 1.3%, to $75.17 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $1.14, or 1.6%, to $71.24 a barrel.

Crude prices rose more than 6% during the week, their highest settlement since November 7, as Russia intensified its campaign in Ukraine after the United States and Britain allowed Kiev to strike deep inside Russia with weapons provided by the two countries, according to Reuters.

“The escalation in Russia and Ukraine has raised geopolitical tensions beyond the levels seen during the year-long conflict between Israel and Iranian-backed militants,” said Ole Hansen, analyst at Saxo Bank.

Russian President Vladimir Putin said Moscow would continue to test new hypersonic Oreshnik missiles in combat and had a stockpile ready for use.

Russia fired the missile at Ukraine after Ukraine used US ballistic missiles and British cruise missiles to strike Russia.

"What the market fears is that inadvertent destruction of any part of the oil, gas and refining sector could not only cause long-term damage but accelerate the spread of the war," said John Evans, an analyst at PVM.

In a related context, the United States imposed new sanctions on the Russian Gazprom Bank at a time when US President Joe Biden is intensifying sanctions measures on Moscow over its invasion of Ukraine before leaving office on January 20.

The Kremlin said the new US sanctions were an attempt by Washington to hinder Russian gas exports, but indicated that Moscow would find a solution.

The United States has also banned food, minerals and other imports from nearly 30 Chinese companies over their alleged use of forced Uighur labor.

China, the world's largest importer of crude, on Thursday announced policy measures to boost trade, including subsidies for energy product imports, amid concerns about threats by U.S. President-elect Donald Trump to impose tariffs.

Analysts, traders and ship-tracking data suggest China's crude oil imports are set to rise in November.

Oil imports in India, the world's third-largest oil importer, rose as domestic consumption increased, according to government data.

Limit Price Increases 

The price rise was capped today by a sharp decline in business activity in the euro zone this month as the region's dominant services sector contracted and manufacturing remained stagnant.

In contrast, S&P Global said the composite flash purchasing managers' index, which tracks the manufacturing and services sectors, rose to its highest level since April 2022, with the services sector recording the largest share of the increase.

The US dollar jumped to a two-year high against a basket of other currencies as business activity gauges moved in opposite directions in the US and Europe.

A stronger dollar makes oil more expensive in other countries, which could reduce demand.

The economy in Germany, Europe's largest, grew less than previously estimated in the third quarter, the Federal Statistical Office said.    https://economy-news.net/content.php?id=50117

The European Union Organizes A Workshop In Basra On Central Administration And The Wealth Distribution System

Saturday 23 November 2024 15:29 | Economic Number of readings: 116   Basra / NINA / The European Union organized a workshop in Basra on central administration and the wealth distribution system.

Basra Governor Asaad Al-Eidani stressed during the workshop that the distribution of wealth has limitations for the poorest areas as well as areas with high population density, in addition to areas that were damaged by the wars that Iraq witnessed.

He added that Basra has three resources for distributing wealth in the budget, which are: regional development, border crossing revenues, and petrodollars.

Basra may not be given its full revenues, which are according to the constitution, due to the financial situation and challenges facing the country. He pointed out that during the past two years there are debts owed to the governorate that must be given those entitlements.

Al-Eidani explained that "the infrastructure projects being implemented in the governorate have contributed significantly to improving the economic situation in various housing units, noting that house prices in the governorate have witnessed a noticeable doubling during the past few years, reaching ten times their previous value.

Al-Eidani pointed out that these improvements reflect the impact of development projects on improving the standard of living and enhancing the value of real estate assets in Basra." / End

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