Central Bank Collapse Incoming, Silver Prices will Explode

Central Bank Collapse Incoming, Silver Prices will Explode

Wall Street Silver:  12-2-2024

In recent months, the financial landscape has taken on a precarious demeanor, with rising concerns about massive national debt, banking instability, and inflation.

The latest voice in this conversation is Adrian Day, a seasoned investment strategist and advocate for precious metals, who has joined forces with Wall Street Silver to discuss the potential economic turmoil ahead and its implications for silver prices.

Adrian Day’s analysis paints a stark picture of the current financial environment. With national debts skyrocketing across the globe, particularly in the United States, Day argues that an impending “debt storm” threatens to unleash chaos on both domestic and international markets.

The pandemic-induced spending and subsequent monetary policy interventions have exacerbated the situation, pushing debt levels into uncharted territory. This reckless financial strategy, he warns, sets the stage for a possible banking collapse.

The signs are evident — increased borrowing, rising interest rates, and the likelihood of recession create a perfect storm for the financial system. As lenders tighten credit and consumers grapple with job instability and inflation, financial strains mount on institutions that may not withstand the strain.

 The interconnectedness of global finance implies that distress in one area can spiral outwards, potentially triggering wider banking crises.

With this precarious backdrop, Day emphasizes the urgent necessity for investors to reassess their portfolios. Traditional assets like stocks and bonds may not provide the safety and security that investors seek during turbulent times.

This is where silver enters the discussion. Historically seen as a hedge against inflation and currency devaluation, silver’s value is poised to rise as economic uncertainties amplify.

Day speculates that as confidence in the banking system wavers, more investors may flock to precious metals, driving up the demand for silver. The supply constraints due to production limitations and ongoing industrial demand for silver in sectors like technology and renewable energy further strengthen the case for a bullish outlook on silver prices.

The question on many investors’ minds is whether we are teetering on the edge of a banking collapse. Day argues that while the situation is concerning, it is not entirely grim. Governments and central banks have tools at their disposal to mitigate such crises, but their effectiveness depends on timely interventions and sound policies.

However, Day cautions that complacency could prove disastrous. The confluence of high debt levels, inflation, and banking vulnerabilities requires close monitoring and proactive measures. Investors who recognize the signs and take action could position themselves favorably in the forthcoming landscape.

As Adrian Day joins Wall Street Silver to share his insights on the evolving financial landscape, it becomes clear that vigilance and preparation are paramount. The looming debt storm, the potential for a banking collapse, and the rising value of silver as a hedge create an intricate puzzle for investors.

With Day’s expertise in precious metals, astute investors may find a path forward, leveraging the rising silver prices as both a safeguard and an opportunity amid economic uncertainty.

As the world navigates these choppy financial waters, the lessons from history remind us of the intrinsic value of tangible assets like silver. Whether the banking system can weather the impending storm remains to be seen, but one thing is certain: the conversation around silver and its role in safeguarding wealth will only grow louder in the coming months.

https://youtu.be/7d3txY5SM-I

“Coffee With MarkZ” Monday Morning Chat 12-2-2024

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

MarkZ  Update- Some highlights by PDK-Not verbatim

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

Member: Good morning and welcome to the first day of the rest of our lives. Imminent blessing and wealth to all

Member: I hear we have an RV this week

MZ: That’s the word out there….Guess we will see if its fact or fiction. We are very close either way.

Member: Charlie Ward says not until Jan. 20

MZ: I’m not hearing that from any of my sources- but if he’s right –it’s not that far away and we just have to survive until then.

Member: My birthday is tomorrow – do you think we may get notified tomorrow?

MZ: That’s certainly the rumor running around in a number of groups right now. That today and tomorrow are in the crosshairs for pulling the trigger on a reset. There are a ton of rumors for today. .

Member: Let’s hope they hit a bullseye.

MZ: I am waiting for my personal bond contacts to check in today before I get overly excited about the rumors. I am hearing rumors about today and tomorrow from the group side and other peoples contacts….but not from mine yet. So I have not allowed myself to get too giddy.

Member: My bank has maintenance tonight from 10:00 p.m. to 5:00 a.m. Tuesday morning I hope that's a sign from the good Lord above that we are here!!!!!

MZ: “Central Bank reveals the volume of its dollar sales today.” Today they spend $285 million in dollars and getting more dinar off the streets. Which increased the value.

MZ: “Parliamentary Finance: The meeting with oil focused on discussing the  amendment of an item in the budget”  Specifically they are discussing the last sticking point with the HCL. When that is finished- my Iraqi contacts are telling me the HCL will add value to the dinar. It is expected to be finished before Dec. 10th.

MZ: “Al Alaq: our critical position is very excellent” They want you to know just how stable the monetary  system is. Both inside and outside of the country.

MZ: “It doesn’t remain just “attractive” Iraq wants to invest its money in projects abroad”  They are investing inside of the country and outside of the country.  Huge articles coming out of Iraq this morning.

MZ : ” Vietnam to build a $67 Billion high speed railway” Why can’t they do this in the US? Can you imagine how much more efficient commerce and travel would be?  

Member; I saw dong at .3940

MZ: There are a lot of rates showing right now that would fix most of our financial problems. On bolivar right now…..it still has sanctions so we cannot trade it…yet.

Member: Current actual rate for Venezuelan bolivar .02103. Get your calculator out. Rumors indicate .31 to .29. I suspect a better rate soon.

Member: How can we exchange at banks if they are still run by the cabal?

MZ: they won’t be …after. That’s the biggest reason things have taken so long…imo…To make sure we are safe secure and asset backed.

Member: Anyone know if we have a limited window on redeeming??

Member: Two weeks to set appointments and 1 month to exchange . If I remember correctly.

MZ: I found this one interesting. “World’s Largest gold deposit found. Worth over US $80 Billion” in Central China.  About 1,000 metric tons. They keep finding more gold when its time for the world to go back to a gold-backed currency.

Member:  BRICS: they have developed a new international payment system, backed by gold.

Member: So what are your thoughts on Trumps latest statement against BRICS and slapping a 100% tariffs on those countries and any future countries thinking about joining

MZ: “Trump threatens 100 percent tariffs on BRICS members if they challenge US dollars”  They can still wor around these tarrifs by not doing a common currency and just using a basket. But the US will be forced to go asset backed.

Member: When I heard Trump talking about BRICS I was confused because I thought he was putting us on the Gold backed system.

Member: Mark, please explain if BRICS is bad, why? Aren’t we going asset backed too?

MZ: There is only one way to avoid the whole world going to BRICS…..that is if we go asset backed. The only way to avoid all these countries running to join BRICS is if the US does it first. If we go back to the gold/asset standard first- there will be few restrictions on other nations. I think that is what Trump is pushing. It looks like he will one-up BRICS and do it first. That is what we have been waiting on.

Member: That is how I took it! His statement means we are gold backed soon.

Member: IMO Ripple will be the World Reserve Bridge Currency. XRP

Member: Thanks for the awesome news today Mark and Mods…..fingers crossed this is our week.

Member: Everyone have a wonderful day

StacieZ joins the stream today. Please listen to replay for her information

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

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Iraq Economic News and Points to Ponder Monday AM 12-2-24

Guide To Iraqi Banknotes In Circulation
 
Central Bank of Iraq is pleased to present the Iraqi banknotes in circulation.
 
This technical leaflet highlights the security features and aims to be a guide to the public as well as to companies and commercial banks handling cash on a daily basis. In addition to the enhanced security features, the banknotes include raised printings to facilitate tactile recognition of the denominations by visually impaired users.

We encourage you to take your time to famil-iarize yourself with our banknotes and share the information with those around you. The current series of banknotes will be in circula-tion alongside the old banknotes, and there isno intention to withdraw the older banknotes from circulation.

The primary objectives of the Central Bank of lraq (CBI) are to ensure domestic price stability and foster a stable competitive market based financial system. The CBI shall also promote sustainable growth, employment and prosperity in Iraq.
 
The headquarter of the Central Bank of Iraq is in Baghdad and has three branches: Basra, Mosul, and Erbil.
 
lraqi banknotes are characterized by the most sophisticated security features and the high-est quality of security paper. Any attempt to produce, hold or pass counterfeit banknotes is a criminal offence and there will be severe legal punishments for such acts. Counterfeit banknotes must be surrendered to the police or the Central Bank of Iraq.

December 01, 2024  :diamonds: Guide to Iraqi banknotes in circulation .. For more, click here
       https://cbi.iq/static/uploads/up/file-173304177261220.pdf
 
https://cbi.iq/news/view/2724   
 
(partial text - see bilingual file, https://cbi.iq/static/uploads/up/file-173304177261220.pdf ,
for images and security descriptions)     

The Governor Of The Central Bank Told {Al-Sabah}: The Launch Of The “Riyada” Bank Is Near.
 
Second and third 12/02/2024  Cairo: Esraa Khalifa  The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, revealed the imminent launch of the “Riyada” Bank to support small and micro projects, while

he expressed his optimism about the country’s monetary position despite the circumstances of the region, stressing that  it is “very excellent,” and that the  Central Bank is on its way to

     completing the digital transformation in parallel with its success in
     Implementing the external remittance plan in accordance with international standards.
 
Al-Alaq said in an exclusive interview with “Al-Sabah” on the sidelines of his participation in the activities of the Arab Week for Sustainable Development (fifth edition), which was held in Cairo recently, that
 
“Riyada Bank will be contributed by Iraqi banks and with the support of the Central Bank itself in order to diversify the production base and reduce unemployment levels.” Providing basic foundations for sustainable development with the support of specialized international organizations.”

Green Bank  

He added, “The Central Bank is adopting a financing initiative to purchase solar systems and license the (Green Bank) to be the first bank in the region to specialize in green financing and renewable energy projects as part of confronting the challenges of climate change.” He explained that
 
he announced this in a session on “The Role of Central Banks in Climate Change.”) which was held in Cairo.  He pointed out that “the
 
Central Bank adopts an unconventional monetary policy, which is not based solely on achieving monetary stability using its traditional tools - although
 
this role has priority as it is a fundamental pillar in
 
     achieving economic stability and
     providing a stable and attractive environment for the business sector and foreign domestic investment - as the changes
 
The challenges facing the world and their effects on the national economy require a broader role and new tools to avoid risks and create appropriate and stable conditions, and
 
one of those challenges is climate change.” He stated that
 
“the Central Bank of Iraq agrees with the opinion that climate changes have direct effects.” In the economy, due to the decline in rates of economic growth, displacement, unemployment, and poverty caused by natural disasters, drought, and poverty, which calls for central banks to take a role in confronting the risks resulting from this, in order to maintain acceptable levels of sustainable development.”
 
Stability indicators 
 
The Governor of the Central Bank of Iraq added that he presented during the Cairo session;

He gave a detailed explanation of the development process in Iraq during the wars and unjust policies regarding Iraq’s resources and infrastructure, which led to serious declines in development indicators. He pointed out that  “with the decline of the last waves of terrorism in Iraq and the achievement of security stability, indicators of economic stability began to grow, and local and foreign investment began.”

It is on an upward path, and the Central Bank of Iraq has achieved several basic factors in general stability by
 
     combating and controlling inflation,
     maintaining high foreign reserves, as well as through its initiatives to
     stimulate economic sectors and
     provide a safe environment and freedom of movement. Investments. Al-Alaq stated that
 
“the experiences of countries have proven the pivotal role of small and medium enterprises, and  
therefore the Central Bank pays great attention to this issue,” pointing to
 
“the roles required and expected of central banks regarding the challenges of climate change, including ensuring financial stability by assessing the risks associated with climate change.”
 
Which requires 
     monitoring,
     developing tools to measure them,
     conducting climate stress tests that simulate the impact of climate events on the economy and the financial sector, and
     encouraging green financing by
     including environmental, social, and governance standards in lending and investment policies,” he explained.
 
“The Central Bank of Iraq is applying these standards in the banking sector with the support of the UNDP, as well as encouraging banks to finance environmentally friendly projects,” and noted that
 
“monetary policies can be modified to take into account the long-term impact of the climate, such as including grant-related securities within market operations.” "open".
 
Regarding his participation in the “Sustainable Development Conference” in Cairo, Al-Alaq said:
 
“It is an annual event held by the League of Arab States in cooperation with international and local partners.
 
The title of the held edition was (Sustainable Solutions for a Better Future), and 
one of its activities was the launch of the High-Level Regional Forum on Investment.” And sustainability, which is the first of its kind.
 
The forum aims to address the challenges and opportunities related to investment and sustainability in light of global economic trends, climate change and regional fragility.

It also aims to create a dialogue platform between governments, investors, banks and development agencies to enhance investment. Sustainable, and we participated with a working paper in the conference.”
 
Digital transformation
 
Regarding the digital transformation that the Central Bank of Iraq intends to implement, Al-Alaq said:
 
“There is a broad program, which takes on a great national dimension for us, and 
it is the digital transformation, which is one of the government’s priorities in cooperation with the Central Bank, and
 
we work together and with direct support from Prime Minister Muhammad Shiaa Al-Sudani. “To provide the requirements for this transformation, which constitutes an essential pillar of the digital economy in general.”  The Governor of the Central Bank affirmed that “the
 
government is moving to diversify production to advance the banking sector and financial policy, and
 
it is developing programs to reach the goal and 
taking into account the international, regional and local conditions - which are the keys to dealing with and presenting programs and plans that are compatible with all these conditions - and
 
there is diversification and strengthening of the national economy.”
 
In order for the banking sector to be active when there is a diversified production base,” Al-Alaq acknowledged,
 
“We as a country suffer from the fact that the main economic activity is the oil sector, and
 
what is linked to the transformation of oil resources into a sector trade primarily instead of employing it locally to serve development goals and diversify the production base, and
 
this calls for the necessity of activating the banking sector by providing the necessary financing to establish real projects in the basic economic sectors, especially in the industrial and agricultural sectors and other sectors,” indicating that
 
“this approach will lead to 
     Alleviating dependence on oil resources, as well as providing means of 
     real employment and growth.”

Monetary stability 
 
Regarding the impact of tensions in the region on monetary stability, Al-Alaq said:
 
“The monetary position in Iraq is (very excellent) at the present time in terms of 
     controlling inflation and the  high adequacy of foreign reserves,
 
which enables the central bank to 
     be steadfast, to
     defend the exchange rate, and to
     achieve stability.” cash,
 
despite the circumstances surrounding the country and the region,” indicating that 
“the reserve covers our needs, and  this is what distinguishes the Central Bank of Iraq compared to other central banks in "The area." At the end of his speech to Al-Sabah, Al-Alaq confirmed the
 
success of the Central Bank in implementing the transition plan for “foreign remittances, in accordance with international practices and standards, and that it is currently taking place smoothly and transparently - especially covering imports at the official exchange rate - which leads to general stability in prices.”

As for personal transfers and the use of cards outside Iraq, its system is being developed to ensure its smoothness, and agreement has been reached with all concerned companies regarding new mechanisms to enhance the relevant accounts.   https://alsabaah.iq/106575-.html   

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

Seeds of Wisdom RV and Economic Updates Monday Morning 12-02-24

Good Morning Dinar Recaps,

KEY US ECONOMIC EVENTS TO WATCH THIS WEEK WHICH WILL IMPACT THE CRYPTO MARKET

The crypto market has reached a new high, surpassing $3.4 trillion, as many altcoins outperform Bitcoin. This marks a significant moment for the market. With major economic reports on US jobs, employment claims, and manufacturing due this week, all eyes are on how these events could affect the crypto space. These reports could influence market sentiment and potentially drive the value of both Bitcoin and altcoins.

Key US Economic Event For This Week
Crypto markets gained last week after Donald Trump chose hedge fund expert Scott Bessent as Treasury Secretary. Now, crypto markets are closely watching key US economic data set to be released this week.

Dec 2: ISM Manufacturing PMI Report  
The ISM Manufacturing PMI report for November, set to be released on Monday, Dec 2, will shed light on the U.S. manufacturing sector and overall economic trends. This comes after weak data from the Eurozone, where the Euro dropped to a 23-month low of $1.0336.

As the U.S. ISM index is forecasted to rise slightly from 46.5 to 47.5, a weaker USD could drive investors toward Bitcoin and other cryptocurrencies.

Dec 3: JOLTS Job Openings
On December 3, the U.S. Bureau of Labor Statistics will release October’s JOLTS report, showing job openings, layoffs, and quits. Job openings have steadily fallen since March 2022 but rose to 8.4 million in August before dropping to 7.44 million in September.

Meanwhile, October’s forecast is a slight uptick to 7.49 million, as labor market trends remain crucial for Fed policy decisions.

Dec 4: National Employment Report
On December 4, the ADP National Employment Report will reveal November’s job growth in the private and public sectors. October’s report surprised markets with just 12,000 jobs added, far below expectations. While hiring has been slowing, September showed improvement, with 233,000 jobs added.

Earlier weak data has fueled expectations of a Fed rate cut, keeping market attention on this week’s report.

Dec 5: Jobless Claims Report
The upcoming jobless claims report on December 5 will provide fresh insights into the U.S. labor market. Last week recorded 213,000 claims, with a slight increase to 215,000 expected.

Despite fewer initial claims, rising continuing claims suggest employers are holding onto workers, but those laid off are struggling to secure new jobs.

Dec 6: US Employment Report
On Friday, December 6, all eyes will be on the November employment report, expected to show over 250,000 new jobs. The numbers will reflect the return of Boeing workers and recovery from Hurricane Milton.

This comes after weaker PCE data, hinting at a possible Fed rate cut ahead of its December 18 meeting.

In addition to this, Friday will also see the preliminary Michigan Consumer Sentiment Index and Inflation Expectations for December, providing a snapshot of consumer confidence and long-term inflation views.

@ Newshounds News™

Source: CoinPedia 

~~~~~~~~~

CURRENCY: WHAT’S HAPPENING WITH INDIAN RUPEE AND THE US DOLLAR?

The rupee has once again dropped, hitting a record low against the US dollar, slumping to hit 84.71 against the USD. The US dollar is currently sitting at 106, up 0.42% in the early, around 12:26 IST time.

Currency Update: Indian Rupee Records New Lows, What Happened?

The Indian rupee recorded a new blow to its valuation on Monday. The early hours of trading reported a staggering outlook of the rupee, displaying a noteworthy drop in its valuation. The INR is currently sitting at 84.61, hitting a new low against the USD.

The drop in INR has been primarily spurred by the slow economic growth data that has recently been released. The fresh statistics have revealed that the Indian economy has slowed much more than the anticipated markers, likely pushing the Reserve Bank of India to intervene and cut rates. The INR is already battered due to equity outflows that are triggered by the recent election win prompting Donald Trump to take the presidential lead.

This development represents a striking contrast, adding to how the Indian economic domain is experiencing slow growth, disrupting its earlier trajectory of becoming one of the world’s fastest-growing economies.

The ANZ bank, in a note released recently, shared how the RBI may cut rates as early as December 2024 to stabilize the current economic pillars of the nation.

Trump Fires BRICS on Twitter, Warns of New Tariffs

In the meantime, the president-elect, Donald Trump’s new statements concerning BRICS are also weighing on the Indian economy. Trump, in a new tweet, shared how he may impose 100% tariffs on BRICS nations in particular if they went ahead with their plans to launch a new currency against the US dollar.

“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency. Nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs. And should expect to say goodbye to selling into the wonderful U.S. Economy.

They can go find another “sucker. There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.”

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

XRP'S SIX-YEAR HIGH OF $2.50 — WHAT MADE IT HAPPEN?

XRP has seen a remarkable surge, reaching highs of $2.50 in today's trading session, a level not seen since Jan. 8, 2018. This nearly seven-year high has captured the attention of the cryptocurrency community and the market alike.

According to on-chain analytics platform Santiment, whale accumulation might have contributed to this price surge. Whales and small retail holders accumulating together have contributed to XRP making history, reaching highs not seen since January 2018.

Santiment noted that the six-year or nearly seven-year high for XRP comes as wallets with 1 million to 10 million XRP have accumulated 679.1 million tokens in just three weeks. This accumulation is currently valued at approximately $1.66 billion.

According to Ki Young Ju, CryptoQuant CEO, Coinbase whales might be driving the XRP price rally. Over the past 30 days, during the surge, Coinbase's minute-level price premium has ranged from 3% to 13%. Meanwhile, Upbit — a Korean exchange with more XRP investors than Binance — has shown no significant premium so far.

XRP is also experiencing increased wallet activity. For the first time in the coin's eight-year lifetime, the total number of non-empty XRP wallets has exceeded 5.5 million.

Since Nov. 9, there have been 119,820 non-empty XRP wallets. Traders are increasingly rotating money out of Bitcoin and into other cryptocurrencies. Since Nov. 21, BTC's dominance rate, or share of the cryptocurrency market, has fallen from 61.5% to 56.5%.

At the time of writing, XRP was up 20.36% in the last 24 hours to $2.32 and up 54% in the previous seven days. XRP becomes third largest cryptocurrency in $100 billion rally XRP has vaulted rivals Solana and USDT, Tether’s stablecoin, to become the third-largest cryptocurrency following a $100 billion rally.

On Monday, the token climbed up to 20% to $2.50. In the process, its market value increased to $139 billion, up from less than $30 billion on Nov. 5.

XRP has been rising since Nov. 28, when it fell to lows of $1.28; taken from this date, XRP will mark the sixth day of gains if today closes in green. Broadly speaking, XRP has steadily climbed from Nov. 5 lows of $0.50 and has skyrocketed 353% in 30 days.

The cryptocurrency's remarkable surge has propelled it above the leading dollar-pegged stablecoin, Tether's USDT, to become the world's third-largest digital asset. XRP trading volumes have increased globally. Upbit, South Korea's largest cryptocurrency exchange, had a record $4.25 billion volume in the XRP-won pair in the last 24 hours. CoinMarketCap data shows that this accounts for almost 28.8% of the exchange's overall trading volume.

@ Newshounds News™

Source:  U Today   

~~~~~~~~~

CREEPY BROADCAST ALERTS THAT WARNED YOU  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Thank you Dinar Recaps

News, Rumors and Opinions Monday AM 12-2-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 2 Dec. 2024

Compiled Mon. 2 Dec. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Sun. 1 Dec. 2024 Banker: “Being advised by several to remain alert for (Tier4b Us, the Internet Group) notifications tomorrow (Mon. 2 Dec. 2024).”

Sun. 1 Dec. 2024 Wolverine: “Hi guys just to keep you all happy. I’m very, very happy as Christmas is coming much early. That is all I can say. Merry Christmas everyone.”

Sun. 1 Dec. 2024 TNT Tony: “Banks have full release for tomorrow Mon. 2 Dec. 2024 or Tues. 3 Dec. 2024.” Thurs. 28 Nov. 2024 TNT Call: “We got a call from the committee guy. He said the IMF and UN just had a meeting and I was told to call and tell you the currencies that have been green lighted to go are the Iraqi Dinar, ZIM, Venezuela Bolivar, Dong and Zimbabwe ZIM.”

Sun. 1 Dec. 2024: BREAKING!! New Leaks Reveal NESARA’s Rollout: Secret Military Operations Target Elites, G***O T*******s Begin, Gold Redistribution Restores Wealth to the People, QFS Activation, Arrests Skyrocket, and the Golden Age Unfolds! – Gazetteller

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

Global Financial Crisis:

Sat. 30 Nov. 2024: BOOOM! Global Financial Revolution: How Starlink, Basel III, and ISO20022 Are Blowing Up Traditional Banking! – amg-news.com – American Media Group

Sun. 1 Dec. 2024: BREAKING NEWS! TRUMP TO BRICS: “100% TARIFFS IF YOU DARE TO CREATE AN ALTERNATIVE TO THE US DOLLAR” VIDEO – amg-news.com – American Media Group

Restored Republic: The Role of the Military  – Merry Christmas everyone:

The Deepstate’s financial empire will crumble. The Quantum Financial System (QFS) is set to officially take over, ushering in the greatest transfer of wealth in human history. The elite-controlled banks, stock markets, and fiat currencies will be obliterated and replaced with a fair, transparent financial system designed to serve the people, not the oppressors.

Read full post here:  https://dinarchronicles.com/2024/12/02/restored-republic-via-a-gcr-update-as-of-december-2-2024/

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

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

Militia Man  They need to have valuation for [their] assets.  I think that's going to be related to an exchange rate, a real effective exchange rate.

Fnu Lnu  Redemption Centers are remote bank locations. There will be no contract rates unless you have a contract with private buyers pre-October 2011. Everyone will get the same rate due to the Law of One Price.

Wow this serious Iqd

Nader:  12-1-2024

https://www.youtube.com/watch?v=Svx7FtOSSfU

Are We Underestimating The Power of the BRICS?

Lynette Zang:  12-2-2024

https://www.youtube.com/watch?v=D8cz3sc3pqc

“Tidbits From TNT” Monday Morning 12-2-2024

TNT:

Tishwash:   It does not remain "just attractive".. Iraq wants to invest its money "in projects abroad"

Revealed a member Parliament Iraqi MP Ibtisam Al-Hilali announced today, Monday, Iraqi plans to activate foreign investments, meaning that Iraq By investing his surplus money in projects abroad.

Al-Hilali said in an interview with Sumaria News, "Thanks to the good diplomatic relations that the government of Mohammed Shia al-Sudani has established with neighboring countries and the world, economic relations have also improved," noting that "there are large internal and external investments."

She explained that "domestic investments serve the country by improving the environmental situation and infrastructure," indicating that "foreign investments have a financial and economic return for Iraq."

She stressed that "we had a meeting with the French embassy to activate foreign investments," indicating that "Iraq is a capable country."physicallyHe can invest his money in foreign investments to benefit the public.Iraqand neighboring countries.”

Questions have often been raised about why the investmentIraqHis money is invested in various sectors, including external sports sectors as well as technology, similar to other countries, which could lead to a diverse financial return with the lack of non-oil revenues inIraqCompared to oil revenues. link

Tishwash:  Iraqi government: Internal and external debts within safe limits

The Prime Minister's advisor for financial affairs, Mazhar Mohammed Salih, confirmed on Monday that Iraqi debts constitute only 35% of the gross domestic product.

Saleh told Shafaq News Agency, "All of the outstanding internal and external debts still do not exceed 35% of our country's GDP, which means that they are within the safe limits of global economic stability standards."

He added, "We should not be too concerned about the issue of the internal public debt and its increase to more than 70 trillion dinars, which is within the standard limits for stability according to the European Union standards that allow the sovereign debt to reach 60% of the gross domestic product."

Saleh pointed out that "more than 90% of the domestic debt is held by the government banking system and is borrowing from within government funds and for the benefit of the federal general budget."

He added, "This indicates that the market is not concerned at all with domestic sovereign debts, as domestic debt represents operations within the government's balance sheet, so to speak, and does not pose any sovereign financial risks at all. The efforts of the financial and monetary authorities are combined to adopt a precise policy to achieve the common financial goals in the issue of financial consolidation, the basis of which is not to expand the annual financial deficit in the budget and to gradually reduce the size of the sovereign debt balance to the gross domestic product."

The Central Bank of Iraq revealed that domestic debts rose in 2024 to more than 73.3 trillion dinars link

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Al-Alaq: The monetary situation in Iraq is very excellent and the launch of Riyada Bank is imminent

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, revealed the imminent launch of the “Riyada” Bank to support small and micro enterprises, while expressing his optimism about the country’s monetary position despite the region’s circumstances.

Al-Alaq said in an interview with the official newspaper, followed by "Al-Eqtisad News" on the sidelines of his participation in the activities of the Arab Sustainable Development Week (fifth edition) held in Cairo recently, that "Riyada Bank will be contributed by Iraqi banks and supported by the Central Bank itself in order to diversify the production base, reduce unemployment levels, and provide basic pillars for sustainable development with the support of specialized international organizations."
The Green Bank

He added that "the Central Bank is adopting an initiative to finance the purchase of solar systems and license the (Green Bank) to be the first bank in the region to specialize in green financing and renewable energy projects as part of confronting the challenges of climate change," explaining that he announced this in a session on (the role of central banks in climate change) which was held in Cairo.

He pointed out that "the Central Bank adopts an unconventional monetary policy that is not based solely on achieving monetary stability using its traditional tools - although this role has priority as a fundamental pillar in achieving economic stability and providing a stable and attractive environment for the business sector and local and foreign investment - as the changes and challenges facing the world and their effects on the national economy require a broader role and new tools to avoid risks and create appropriate and stable conditions, and among those challenges are climate change."

He explained that "the Central Bank of Iraq agrees with the view that climate change has direct effects on the economy, as natural disasters, drought and famine cause a decline in economic growth rates, displacement, unemployment and poverty, which calls for central banks to play a role in confronting the resulting risks, in order to maintain acceptable levels of sustainable development."
Stability indicators.

The Governor of the Central Bank of Iraq added that during the Cairo session, he provided a detailed explanation of the development process in Iraq during the wars and unjust policies towards Iraq's resources and infrastructure, which led to serious declines in development indicators.

He pointed out that "with the decline of the last waves of terrorism in Iraq and the achievement of security stability, indicators of economic stability began to grow, and local and foreign investment began to take an upward path. The Central Bank of Iraq achieved several basic factors in general stability by combating and controlling inflation, maintaining high foreign reserves, as well as through its initiatives to stimulate economic sectors and provide a safe environment and freedom of movement for investments."

Al-Alaq explained that "the experiences of countries have proven the pivotal role of small and medium enterprises, and therefore the Central Bank pays great attention to this issue," pointing to "the roles required and expected from central banks in the face of climate change challenges; including ensuring financial stability by assessing the risks associated with climate change that require monitoring and developing tools to measure them and conducting climate tolerance tests that simulate the impact of climate events on the economy and the financial sector, and encouraging green financing by including environmental, social and governance standards in lending and investment policies,"

Explaining that "the Central Bank of Iraq is implementing these standards in the banking sector with the support of the UNDP, as well as encouraging banks to finance environmentally friendly projects," noting that "monetary policies can be amended to take into account the long-term impact of climate, such as including climate-linked securities in open market operations."

Regarding his participation in the "Sustainable Development Conference" in Cairo, Al-Alaq said: "It is an annual event held by the League of Arab States in cooperation with international and local partners. The title of the current edition was (Sustainable Solutions for a Better Future).

Among its activities was the launch of the first-of-its-kind High-Level Regional Forum on Investment and Sustainability. The forum aims to address the challenges and opportunities related to investment and sustainability in light of global economic trends, climate change and regional fragility. It also aims to create a dialogue platform between governments, investors, banks and development agencies to promote sustainable investment.

 We participated with a working paper at the conference."

Digital Transformation

Regarding the digital transformation that the Central Bank of Iraq intends to implement, Al-Alaq said: “There is a broad program, which has a major national dimension for us, which is the digital transformation, which is one of the government’s priorities in cooperation with the Central Bank, and we are working together and with direct support from Prime Minister Mohammed Shia Al-Sudani, to provide the requirements for this transformation, which constitutes a fundamental pillar of the digital economy in general.”

The Governor of the Central Bank stressed that "the government is moving towards diversifying production to advance the banking sector and financial policy, and it is setting programs to achieve the goal and to be aware of international, regional and local circumstances - which are keys to dealing with and proposing programs and plans that are compatible and in harmony with all these circumstances - and there is diversification and strengthening of the national economy, so that the banking sector is active when there is a diverse production base

." Al-Alaq acknowledged that "as a country, we suffer from the fact that the main economic activity is the oil sector, and in connection with the transformation of oil resources into the trade sector primarily instead of employing them locally to serve development goals and diversify the production base, and this calls for the necessity of activating the banking sector by providing the necessary financing to establish real projects in the basic economic sectors, especially in the industrial and agricultural sectors and other sectors," indicating that "this trend will lead to reducing dependence on oil resources, as well as providing means for real employment and growth."

Monetary Stability

Regarding the impact of regional tensions on monetary stability, Al-Alaq said: “The monetary situation in Iraq is (very excellent) at the present time in terms of controlling inflation and the high adequacy of foreign reserves, which enables the Central Bank to remain stable, defend the exchange rate, and achieve monetary stability, despite the circumstances surrounding the country and the region,” indicating that “the reserve covers our needs, and this is what distinguishes the Central Bank of Iraq compared to other central banks in the region.”

At the end of his interview with “Al-Sabah,” Al-Alaq confirmed the Central Bank’s success in implementing the transition plan for “foreign transfers, in line with international practices and standards, and that they are currently being carried out smoothly and transparently - especially covering imports at the official exchange rate - which leads to general stability in prices.

As for personal transfers and the use of cards outside Iraq, their system is being developed to ensure their fluidity, and an agreement has been reached with all relevant companies regarding new mechanisms to enhance the relevant accounts.” link

Mot: ....... Whoosh! -- and Just Like That!!!! 

Mot.. Hey Ya'll 

KTFA Members “News and Views” Sunday 12-1-2024

KTFA:

Clare:  Members of the House of Representatives leave the parliament building in protest against the delay of sessions

12/1/2024

Members of the Iraqi Parliament decided on Sunday to leave the parliament building in protest against the delay in holding sessions.

A parliamentary source told Shafaq News Agency that a number of members of the House of Representatives expressed their dissatisfaction with the presidency of the House of Representatives and began to leave the building of the House of Representatives due to the delay of the session by four hours from its scheduled time.

He pointed out that all the representatives decided to leave the parliament building without waiting.  LINK

Clare:  The House of Representatives postpones its session until tomorrow, Monday

12/1/2024  Baghdad - I.A. 

The media department of the House of Representatives announced today, Sunday, the postponement of the session until tomorrow, Monday.

A statement by the department received by the Iraqi News Agency (INA) stated that "the House of Representatives decided to postpone its session until tomorrow, Monday."   LINK

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Opinion:

SThomas:  The BRICS have been talking about establishing a currency for a long time, essentially Biden’s entire term, but it has yet to materialize. The trade bloc represents half the world population and almost half its GDP, yet rather than moving forward with implementing a new currency they just continue to tease the world with the concept while demonstrating the viability of other options to exclude the USD from international trade settlement. Why?

Perhaps bc the plan was never to move forward with replacing the USD via a new world reserve currency, but rather to demonstrate its vulnerability against emerging technologies (crypto) and, more importantly, precious metal and asset backed currencies.

The whole de-dollarization movement is not designed to crush the USD, but rather to force its backing with tangible assets and to demonstrate the futility of using fiat-based sanctions as a weapon on the geopolitical stage against nations who actually back their monetary system with precious metals.

 It’s also been about showing the world that our entire debt-based system crumbles in on itself once foreign nations refuse to monetize it.

Remember that this is a movie and Trump has been working directly with the BRICS leaders all along. Imo …This is red meat for his base: coming out strong against de-dollarization and declaring the USD king. Do you really expect anything less?

Trump is once again demonstrating (albeit in the context of the movie) the art of the deal. He is establishing the terms of negotiations which will undoubtedly unfold once he is sworn in. But watch him pivot to the need for PM backed currency in the process.

He is not defending the fiat system folks; that’s why he is going to audit the FED and the IRS, why he has embraced the SBR, which will force the FED to fund the purchase of bitcoin to pay off the debt and, in the process, redistribute the real wealth the cabal has stolen from the people. This is the tool the WH chose to use in order to put the cabal’s assets into circulation for the benefit of humanity.

We all know that if the Fiat debt prison isn’t dissolved then we can never have a golden age, but there’s a reason Trump told us to get ready for one. Don’t be fooled by his rhetoric…it’s all part of the movie. He will go to the negotiating table and a new US monetary policy will emerge. IMO

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Clare:  With the document.. The Central Bank directs to stop financial transactions of TikTok agents inside Iraq

12/1/2024

The Central Bank of Iraq directed banks to stop incoming and outgoing financial transactions for TikTok agents inside Iraq.

On March 25, 2024, the Ministry of Communications announced that it had submitted a request to the Council of Ministers to block the TikTok application, noting that the application had contributed to the "disintegration" of the Iraqi social fabric and that it had no scientific or educational benefit and was merely an entertainment application.

It pointed out that "many countries had blocked TikTok, most notably the United States of America, in addition to Canada and other countries."  LINK

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Clare:  Rafidain begins distributing retirees' salaries

12/1/2024

Raidain Bank announced the start of distributing the salaries of civilian and military retirees for the current month of December through electronic payment tools.

The bank's media office stated in a statement received by {Al Furat News} that "retirees who receive text messages can receive their salaries from anywhere they are," stressing that the distribution process was carried out smoothly to facilitate procedures for beneficiaries.   LINK

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Clare:  2025 budget on the table of the Parliamentary Finance Committee and the Ministry of Oil

12/1/2024 Baghdad

Today, Sunday, the Parliamentary Finance Committee hosted the Undersecretary of the Ministry of Oil to discuss the draft federal general budget law. 

The Parliamentary Finance Committee hosted the senior staff of the Ministry of Oil and its Undersecretary for Extraction Affairs, Basem Mohammed Khadir, the Director General of the State Oil Marketing Company (SOMO) Khadir Abbas Abdul, the Director General of the Economic Department Alaa Al-Yasiri, and the Director of the Legal Department in the Ministry, Salam Hamdan.

The hosting came to discuss the draft law of the first amendment to the Federal General Budget Law for the fiscal years (2023-2024-2025) No. (13) of 2023.  LINK

Clare:  Monetary stability achieves economic stability and sustainable development

12/1/2024  Samir Al-Nusairi  

On the sidelines of the participation of the Governor of the Central Bank in the opening of the activities of the Arab Sustainable Development Week Forum in its fifth edition, which was held in the Egyptian capital, Cairo, this week, he confirmed that the monetary situation in Iraq is very excellent through the achieved indicators and basic goals on which the monetary policy is based in supporting the government’s orientations to diversify, stimulate and strengthen the national economy, and exit the circle of the rentier economy dependent on oil revenues, which constitutes a major flaw in the structure of the economy.

When there is no diversified production base in the important productive economic sectors, namely agriculture and industry, this cannot be achieved without a strong, solid, and developed banking sector capable of forming the main financing and investment link in financing, qualifying, and developing projects with a productive dimension and increasing the revenues of the general budget by rates exceeding 30% during the years of the National Development Plan 2024-2028.

This requires the necessity of activating the banking sector and stabilizing the pillars of the monetary position, which is in building “foreign reserves, which amounted to more than 100 billion dollars and 153 tons of gold, and constitute an adequacy ratio of 140% to enable the Central Bank to cover and support the defense of the exchange rate, achieve monetary stability, and cover imports, despite the difficult and complex circumstances surrounding the countries of the geographical region.

This enabled the Central Bank to control the general level of prices and inflation, which decreased from 7.5% in January 2023 to 3.8% currently, which is the lowest rate compared to inflation rates in Arab and regional countries, as the Central Bank continues to provide dollars for trade at the official price. It achieved a qualitative shift to regulate foreign trade financing.

New channels have also been opened for transfers using other currencies, such as Turkey, India and China, in addition to European countries. This will make the process of foreign transfers more flexible, streamlined, transparent, controlled and compliant with international standards that enhance confidence and credibility in the operations we carry out.” This means that the Central Bank is moving steadily towards achieving the objectives of monetary policy and achieving economic stability in accordance with Law No. 56 of 2004.  LINK

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Clare:  Parliamentary Integrity Committee accuses former Iraqi Central Bank employee of being behind US sanctions

12/1/2024

The Parliamentary Integrity Committee accused, on Sunday, a former employee of the Central Bank of being behind the banking sanctions imposed on some Iraqi banks by the US Federal Reserve. 

The number of banks sanctioned is 32 out of 72 banks operating in Iraq. 

Member of the Parliamentary Integrity Committee, Vian Dakhil, said in a statement received by Shafak News Agency, that a former employee of the Central Bank hid emails received from the Federal Bank, JP Morgan and Citibank to inquire about some topics related to the bank's work. 

She added that failure to respond to these issues led to some banks being punished, stressing that most banks do not know the reason for the penalties imposed on them. 

On the other hand, economic expert Mustafa Akram Hantoush told Shafak News Agency that the statements of the members of the Parliamentary Integrity Committee are closer to reality than the statements of the Central Bank of Iraq. 

He added that the collapse of the Iraqi banking system and the punishment of 32 Iraqi banks without any clear charges during a period of (a year and a half) is not normal and from the banking work perspective this may be the first incident of this kind in the world.

Hantoush pointed out that the worst thing is the lack of serious solutions by the Central Bank of Iraq to this situation, but rather the move towards cancelling the (Fitr) platform by the end of 2024 and handing over the dollar file to banks affiliated with foreign investors and banks (Jordanian and Gulf). 

Hantoush wondered whether the Central Bank of Iraq knows that by not finding solutions for the Iraqi banking sector, it will fire the mercy bullet at the entire Iraqi banking system and it will be punished as a whole, which will lay off nearly (100) thousand workers in the Iraqi private banking sector for the benefit of Jordan and the Gulf States, and why are Iraqi banks not guaranteed to open an account for them in the correspondent banks in dollars (Citibank / JP Morgan) like the countries of the region did.

He continued, "Why has the mechanism for cooperation and auditing with Ernst & Young regarding transfers in currencies other than the dollar not yet been determined and announced?"   LINK

Iraq Economic News and Points to Ponder Sunday Afternoon 12-1-24

With A Stable Outlook, Fitch Confirms Iraq At ‘B-‘

 Amr Salem November 28, 2024   Baghdad (IraqiNews.com) – Fitch Ratings affirmed on Thursday Iraq’s credit rating at ‘B-‘ with a stable outlook.

 The US credit rating agency said in a statement that Iraq’s ‘B-‘ rating is a reflection of its high level of political risk, poor governance, and heavy reliance on commodities.

As the government gradually eliminates production cutbacks to cover increased spending, Iraq’s oil output will rise to 4.28 million barrels per day in 2025 and 4.54 million by 2026, according to Fitch Ratings.

 Iraq’s budget deficit is projected to increase from 2.0 percent of GDP in 2023 to 8.0 percent of GDP in 2024, with an average of 12.4 percent throughout 2025–2026.

 Fitch Ratings is one of the three statistical rating agencies recognized by the US Securities and Exchange Commission.

 In order to assist investors and institutions in evaluating risks, the agency offers credit ratings that represent the capacity of governments and financial institutions to fulfill their commitments.

 The ratings, which assist in gauging investment risks, vary from ‘AAA’ to ‘D,’ with ‘AAA’ signaling the highest and safest grade and ‘D’ indicating a significant default risk.

 The organization is a major actor in international investment choices and credit risk assessment since it depends on thorough financial analysis that covers economic performance, public debt, political stability, and the global economic climate.  

  https://www.iraqinews.com/iraq/with-a-stable-outlook-fitch-confirms-iraq-at-b/     

Parliamentary Finance: This Is The Problem Of The Draft Amendment To The Budget Law And This Is The Date For The Tables To Arrive

Sunday 01 December 2024 | Economic Number of readings: 109

Baghdad / NINA / The Parliamentary Finance Committee revealed some details of its joint meeting with the agents and senior cadre officials in the Ministry of Oil, to discuss oil revenues and the draft amendment to the general budget law related to production costs in the Kurdistan Region's fields.

The head of the committee, Atwan Al-Atwani, said in a statement to media representatives, including the National Iraqi News Agency / NINA / today, Sunday, that "the meeting focused on the technical aspects of the oil revenues file, especially with regard to the extent of the region's commitment to the agreed-upon decision of the consulting company, the time frame required to complete the requirements of this estimate, and the estimated production costs and criteria for calculating them."

He explained that "there is an urgent need to end the management of this file according to legal foundations that achieve justice, which requires studying and reviewing the new amendment draft," indicating that "the agents of the Ministry of Finance will be hosted in a new meeting to explain the mechanism for paying these amounts that are considered sovereign expenses."

He added, "The draft amendment relates exclusively to Article 12, Second C, and does not include any other article in the General Budget Law," indicating that "the problem with the draft amendment to the new budget law is the extent to which companies contracting with the region adhere to the results of arbitration and the decision of the consulting company,

which may indicate a discrepancy between the companies' vision and conviction in determining the price and costs of production and the decision of the consulting company," noting the necessity of having an obligation to the provisions of the law and their implementation, and we do not want to add other new provisions, but rather limit ourselves to binding governing provisions."

Regarding the general budget tables, he explained, "The tables are supposed to reach the House of Representatives before the end of this year." / https://ninanews.com/Website/News/Details?Key=1172142

With The Document... The Central Bank Directs To Stop Financial Transfers To Tiktok Agents Inside The Country

Sunday 01 December 2024 | Economic Number of readings: 75  Baghdad / NINA / The Central Bank of Iraq has directed to stop financial transfers to TikTok agents inside the country.

According to a document issued by the Iraqi center, which NINA News Agency has reviewed, "the decision came based on a letter from the Iraqi Ministry of Communications."

According to this request, the Central Bank directed all authorized banks and non-banking institutions in Iraq to "stop incoming and outgoing financial transfers to TikTok agents inside Iraq."

According to this procedure, the financial revenues of TikTok users in Iraq will decrease, as the "clicks" and gifts provided by the application and sent by subscribers to each other, which are bought and sold from device and smartphone stores, will no longer benefit them.

Clicking on the TikTok application is a term that refers to a specific mechanism used by some users to obtain rewards or benefits within the application by interacting with the content intensively. Clicking usually includes users' interaction with video clips, such as continuous viewing or interacting with challenges and offers, with the aim of collecting points or prizes. These prizes may be in the form of "virtual gifts" that can be converted into real money through a certain mechanism.

The process is done by purchasing "TikTok Coins" which are used to purchase digital gifts, which can be sent to content creators as support. After collecting a certain amount of these virtual gifts, users can convert them into real money.   https://ninanews.com/Website/News/Details?key=1172159

Private Banks Association Announces Increase In Deposits In Banking Sector Over Last Two Years

Banks  Economy News – Baghdad   The Association of Private Banks announced today, Sunday, the increase in deposits in the banking sector during the last two years, while indicating the government’s great interest in the recent period in relation to digital transformation in general and the shift towards an electronic payment system.

The Executive Director of the Association of Private Banks, Ali Tariq, said in a statement to the official agency, which was followed by "Al-Eqtisad News": "During the last two years, deposits in the banking sector have increased, but there is still a large amount of cash outside the banking system, as this requires increasing confidence in the banking sector, whether governmental or private, and strengthening this confidence through the Central Bank of Iraq and the Iraqi government,

 in addition to offering investment programs for deposits that are reflected in citizens' deposits, which may achieve returns for depositors in these banks, and thus there is an incentive and motivation to increase these deposits."

Tariq added, "Strengthening the electronic payment system in Iraq has very positive repercussions on increasing the use of the banking system in payment and settlement operations, whether between citizens and government services or citizens with private commercial institutions," pointing to "the government's great interest in the recent period in relation to digital transformation in general and the shift towards an electronic payment system at the level of financial transactions."

He added, "About 75 percent of the money supply is outside the banking system and requires a great effort to encourage citizens, companies and institutions to use the banking system more, which is currently happening, but this type of work needs to be accelerated to control financial operations in Iraq."   https://economy-news.net/content.php?id=50417

Iraq Ranked Second Among Oil Exporters To America Last Week

Sunday 01 December 2024 10:19 | Economic Number of readings: 186  Baghdad / NINA / The US Energy Information Administration announced today, Sunday, that Iraq ranked second among oil exporters to America, surpassing Mexico and Saudi Arabia during the past week.

The administration said in a table, "The average US imports of crude oil during the past week from eight major countries amounted to 5.657 million barrels per day, down by 1.08 million barrels per day from the previous week, which amounted to 6.737 million barrels per day."

It added that "Iraq's oil exports to America amounted to 277 thousand barrels per day last week, up by 40 thousand barrels per day from the previous week, which amounted to 237 thousand barrels per day."

The administration indicated that "most of America's oil revenues during the past week came from Canada, followed by Venezuela, Saudi Arabia, and then Brazil."

According to the table, "the amount of US imports of crude oil continued at its rates from Mexico, Nigeria, Colombia, and Ecuador." https://ninanews.com/Website/News/Details?key=1172075

Gold Prices Drop In Baghdad

Stock Exchange  Economy News – Baghdad  The prices of "foreign and Iraqi" gold decreased in the local markets in the capital, Baghdad, today, Sunday.

This morning, gold prices in the wholesale markets on Al-Nahr Street in Baghdad witnessed a selling price of one mithqal of 21 karat Gulf, Turkish and European gold of 560 thousand dinars, and a purchase price of 556 thousand dinars.

The selling price of one mithqal of 21-karat Iraqi gold was recorded at 530 thousand dinars, and the purchase price was 526 thousand dinars.

As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranged between 560,000 and 570,000 dinars, while the selling price of a mithqal of Iraqi gold ranged between 530,000 and 540,000 dinars.   https://economy-news.net/content.php?id=50414

Dollar prices fall in Baghdad and Erbil with the closing of the stock exchange

Economy   | 01/12/2024  Mawazine News – Baghdad  Baghdad and Erbil markets witnessed a decline in the dollar price on Sunday evening with the closing of the stock exchanges.

The dollar price fell in the Al-Kifah and Al-Harithiya stock exchanges in the Iraqi capital, Baghdad, to 149,900 dinars per 100 dollars, after it had recorded 150,000 dinars per 100 dollars in the morning.

The selling prices also stabilized in the local exchange markets in Baghdad, where the selling price reached 151,000 Iraqi dinars per 100 dollars, while the purchase price recorded 149,000 dinars per 100 dollars.

In Erbil, the capital of the Kurdistan Region, the dollar also recorded a decline, where the selling price reached 149,750 dinars per 100 dollars, and the purchase price reached 149,650 dinars per 100 US dollars.  https://www.mawazin.net/Details.aspx?jimare=257075

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 12-01-24

Good Afternoon Dinar Recaps,

HONG KONG LAUNCHES DIGITAL BOND ISSUANCE GRANTS

Last month the Hong Kong Monetary Authority (HKMA) said it was planning to launch a grant program that would offer up to HK$2.5 million (US$ 321,000) in grants to digital bond issuers. Yesterday it announced that the program has started and will run for three years.

We believe the grant scheme also covers tokenized bonds, which are bonds issued conventionally and then a digital twin is created on a blockchain. Digital bonds often refer only to bonds issued natively on a blockchain.

The HKMA is using the digital bond term more expansively. “‘Digital bond’ refers to a bond that leverages distributed ledger technology (DLT) for digital representation of ownership, which could include, for example, legal titles and/or beneficial interests in the bond,” the HKMA wrote.

Digital bond grant criteria
The subsidy will cover up to half the expenses of each digital bond issuance, with a maximum of two issuances.

Half of the subsidy is available if most of the lead managers are based in Hong Kong and the team developing or maintaining the DLT platform has a substantial presence in Hong Kong.

Alternatively, instead of a local developer team, the issuance will qualify if it uses a DLT infrastructure where Hong Kong’s central securities depository, the CMU, is designated as the platform operator.

 For Hong Kong’s sovereign digital bond issuance earlier this year, the CMU was the operator of the local HSBC Orion DLT platform. We believe this means other platforms can also request this designation.

In order to qualify for the full subsidy there are four additional requirements:

▪️the issuer is not associated with the DLT platform

▪️the bond is at least HK$1 billion (US$128.5m)

▪️there are five or more investors not associated with the issuer or DLT platform

▪️the issuance is listed on the stock exchange or by a regulated virtual asset trading platform (VATP).

With the exception of sovereign or semi sovereign bonds, many recent bond issuances globally would not meet these criteria. For example, HSBC recently issued a Hong Kong digital bond on the HSBC Orion DLT. That would only qualify for half the grant because it would fail the platform test.

There are some easy workarounds to the DLT platform criterion. For example, one bank could issue a bond on a second bank’s platform, and then the second bank could issue a bond on the first banks’s platform.

@ Newshounds News™

Source:  Ledger Insights

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SOUTH KOREA DELAYS CRYPTO TAX AGAIN: WHAT IT MEANS FOR INVESTORS IN 2024

▪️South Korea delays crypto tax to 2027, marking a significant policy shift after prolonged debates and investor criticism.

▪️Crypto trading in South Korea thrives as daily volumes hit 6 trillion won, reflecting growing investor interest despite tax uncertainty.

In a latest development, the main opposition Democratic Party of Korea (DPK) agreed on Sunday to delay the controversial crypto tax for two years following investor backlash.

The latest move pushes the tax’s implementation to 2027, marking a significant shift in the country’s stance on digital asset taxation, allowing the market additional time to adapt.

“After extensive discussions, we concluded that additional institutional arrangements are necessary for the virtual asset taxation,” DPK floor leader Rep. Park Chan-dae said during the press meeting at the National Assembly. “We have agreed to defer taxation for two years.”

Park also noted that the decision was made after a ‘prolonged deliberation, debate, and political judgment.’

This decision comes after months of disagreement between the ruling PPP and the KDP. While the PPP supported a three-year grace period, the KDP had previously pushed for implementing the tax in 2025 and had accused the ruling party of using delays as a political strategy regarding South Korea crypto tax policies.

South Korea’s Journey In Crypto Taxes

South Korea’s journey toward taxing cryptocurrency gains began in 2021 when the government proposed a 20% tax on digital asset profits exceeding $1,800 annually. However, criticisms from investors and industry stakeholders led to repeated delays. Notably, the South Korea crypto tax’s implementation was initially pushed to 2023, then to 2025, and now to 2027.

The current tax framework charges taxes on gains exceeding 2.5 million won, whereas stock trading profits are taxed only above 50 million won, a disparity that has been heavily criticised.

Government’s Plans To Impose Crypto Taxes

Beginning next year, the government had planned to impose a 22 percent tax, including local taxes, on annual income exceeding 2.5 million won ($1,790) from virtual asset investments. Although the policy had already been postponed twice, the DPK initially intended to implement the taxation plan by raising the tax exemption threshold to 50 million won.

However, the widespread criticism from the increasing number of crypto investors and opposition from the ruling People Power Party (PPP) led the party to agree to a further postponement.

South Korea Remains Key Player In Global Market

South Korea remains a key player in the global crypto market. Notably, the decision to delay taxation of the South Korea crypto tax reflects the government’s cautious approach to balance regulation with market growth.

Notably, in the first half of 2024, the country’s daily crypto trading volume soared 67% from the previous period to six trillion won. Local media source Naver also reported that the number of domestic investors increased by 21%, reaching 7.78 million, with Bitcoin and Ethereum comprising the majority of holdings.

@ Newshounds News™

Source: CoinPedia 

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@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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More News, Rumors and Opinions Sunday Afternoon 12-1-2024

Gold Telegraph: Today Marks a Historic Shift

11-30-2024

BREAKING NEWS: PRESIDENT-ELECT DONALD TRUMP THREATENS 100% TARIFF ON BRICS COUNTRIES IF THEY UNDERCUT THE US DOLLAR.

Here we go…

The financial storm has arrived. Nobody is laughing now.

Forcing nations into a corner may seem like power—until you realize the corner holds the world’s wealth in minerals. When those nations decide to act, what do you think will happen? All roads lead to gold.

Bullying does not work. Eventually that quiet kid in the back stands up and fights back. Typically, wins.

For years, people scoffed at me for highlighting BRICS and their push for true sovereignty.

Fast forward: the U.S. is now threatening 100% tariffs on BRICS nations daring to move away from the dollar.

A “free market” you say? The world needs gold now more than ever. Reset.

It is easier to defend a system already in existence than to accept the one coming. That is where we are today in the international monetary system. Embrace it or get left behind. Leaders better get smart right now.

If the U.S. wants a commitment from BRICS nations, it should issue long-term, gold-backed Treasury securities redeemable at maturity. Start there. Who else agrees?

Read:  Is The US Considering A Gold-Backed Treasury Instrument?  https://www.zerohedge.com/precious-metals/us-considering-gold-backed-treasury-instrument

Audit the Federal Reserve.

BRICS includes major U.S. trading partners like India and China. The United States threatened to put 100% tariffs on both countries if they circumvent the dollar. Both countries have been focused more on local currencies for trade in recent years. They both are stockpiling gold.

• U.S. and China Trade: Totaled approximately $758.4 billion in goods and services.

• U.S. and India Trade: Totaled approximately $191.8 billion in goods and services.

Back in 2016, President-Elect Donald Trump said: “Bringing back the gold standard would be very hard to do, but boy, would it be wonderful.” You are reading this right.

https://twitter.com/i/status/1863004909089833188

Today marks a historic shift. The United States, drowning in $36 trillion of debt and a nearly 7% GDP deficit, threatens nations to uphold its debt-based currency. Meanwhile, BRICS moves to reset and rebuild hard assets. The U.S. needs to leverage gold to retain dominance.

https://dinarchronicles.com/2024/11/30/gold-telegraph-today-marks-a-historic-shift/

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Ariel:  Iraq is Getting Ready to Launch

Revaluation?
Reinstatement?
Redenomination?
Does it matter?

No because the only thing that would warrant a post of this type given what Iraq is getting ready to launch hours from now concerning those bonds. I do not see any other major event that is on schedule for tomorrow.

Listen, regardless of what happens tomorrow Iraq stated on an official basis that they only have 5% left for their monetary reform. So regardless we are on track for anything to happen at this point.

https://dinarchronicles.com/2024/11/30/ariel-prolotario1-iraq-is-getting-ready-to-launch/

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

Militia Man  We have a couple members that speak fluent Arabic...They come in on occasion and talk to me...or I reach out to them...to see if they can reach out to the tribal people or people that they know that are working on the ground...What I learned was...He gave an example if you're taking a credit/debit card from a country A to country B and it works, meaning you have the ability to transfer money from one country to another on your card, ...you can swipe your card into an ATM and get money, let's say you're [Iraqi], if you're in a different country and you can swipe your card and get dinar or convert [Iraqi dinar] to Jordanian dinar or you can go to Saudi Arabia...the United States... Europe, if the card works in those counties, it's going to be reflective of...an exchange rate... [Post 1 of 2....stay tuned]

Militia Man  Article: "Trade Bank launches first experimental Visa card."  Quote "...the Visa includes features for use in online shopping as well as for use in purchases..."   When we go online, we're international in the World Wide Web.  It sounds like you're going to be able to use a new electronic card across borders.  If this is an international card, showtime is about to being.  Because once they have experimented, if it works, everybody's going to get one.  [Post 2 of 2]

Iraq Heist of the Century Haiti Path to Recovery - HTG Currency Investment

Edu Matrix:  12-1-2024

Iraq Heist of the Century Haiti Path to Recovery— HTG Currency Investment Iraqi Courts Sentence Thieves of the Heist of the Century—Tourism progress—Oil Exports—Haiti Currency Investment Opportunity. News updates from Iraq's tourism industry.

 Huge gift from the United States to Iraq. Haiti's long road to recovery. Haiti's natural resources and the Western world. Exchange rates for the Iraqi Dinar and the Haitian Gorge. Investment recommendation for the HTG.

https://www.youtube.com/watch?v=52Gh3Z1pDW4

MARKETS A LOOK AHEAD: TRUMP THREATENS BRICS! DEFENDS DOLLAR. (EXPECT PRICE SHOCKS).

Greg Mannarino:  12-1-2024

https://www.youtube.com/watch?v=LbEK_2WPdjI

Bubble 4.0: Markets Reached ‘Record Levels’ Of Overvaluation, What's Next?

Bubble 4.0: Markets Reached ‘Record Levels’ Of Overvaluation, What's Next?

Davis Lin:  12-1-2024

David Hay and Jeff Dicks, Co-CIOs of Evergreen Gavekal, explain alternatives to a very frothy equities market, the outlook for the bond market, and the growth prospects for the economy under a second Trump term.

0:00 - Intro

1:05 - What is the Trump trade?

2:40 - Bond market recap

 6:10 - Soft or no landing?

 7:28 - Retail sales and the consumer

10:00 - Household net worth

11:20 - Real wages

12:25 - Fed monetary policy

 13:40 - Global central bank policies

14:34 - U.S. dollar

17:20 - U.S. vs. emerging markets

18:45 - Deficit level

21:40 - Interest rate vs. Inflation

 26:10- Tariffs and economic growth

27:25 - Bubble 4.0

31:33 - Alternatives to stocks

32:43 - Valuations point to lower returns

34:20 - Market cyclically

38:33 - U.S. the “envy of the world”

 40:45 - Liquidity and market performance

24:45 - Economy now relies on foreign net savings

44:00 - Savings rate

45:30 - Mortgage spreads

48:22 - Mistakes of fixed income portfolios

https://www.youtube.com/watch?v=2_oiUS5lBrc