Think You're Safe? Identity Theft Could Wipe Out Your Entire Life’s Savings
Think You're Safe? Identity Theft Could Wipe Out Your Entire Life’s Savings
Kurt Knutsson, CyberGuy Report Fri, December 13, 2024
Identity theft has become a pervasive issue, affecting millions of Americans each year. In 2023 alone, American adults lost a staggering $43 billion to identity fraud. The following story illustrates the devastating impact this crime can have on individuals:
Paula Disberry, a former Colgate-Palmolive employee, was living a comfortable life when she discovered that her 401(k) account had been drained of $750,000. The shock came when she tried to access her account online, only to find it blocked.
Think You're Safe? Identity Theft Could Wipe Out Your Entire Life’s Savings
Kurt Knutsson, CyberGuy Report Fri, December 13, 2024
Identity theft has become a pervasive issue, affecting millions of Americans each year. In 2023 alone, American adults lost a staggering $43 billion to identity fraud. The following story illustrates the devastating impact this crime can have on individuals:
Paula Disberry, a former Colgate-Palmolive employee, was living a comfortable life when she discovered that her 401(k) account had been drained of $750,000. The shock came when she tried to access her account online, only to find it blocked.
A fraudster had impersonated her, changing her contact details and withdrawing her entire retirement savings in a single transaction. Stories like this of financial identity theft are becoming all too common. If you live in the U.S., you’ve likely already encountered one, or worse, experienced it firsthand.
The FBI's Internet Crime Report for 2023 reveals that adults 60 and above accounted for 24.08% of all identity theft claims and suffered 41.46% of the total financial losses. While they may not face a higher risk of becoming victims, the financial toll is significantly greater than any other age group. Older adults, especially those over 60, often feel the impact more deeply. Why? They typically have more assets than younger individuals and are less likely to monitor their bank accounts daily.
Identity theft has been a concern for centuries, with one of the most famous historical impostors being Frank Abagnale Jr. Abagnale claims to have successfully impersonated various professionals in the 1960s, including a Pan Am pilot and a doctor, forging checks and documents to amass a small fortune. His alleged exploits were so notorious that they inspired the film "Catch Me If You Can."
While Abagnale's story is a dramatic example, modern identity theft has evolved into a more pervasive threat, particularly with the rise of digital technology.
The widespread availability of personal information on the web, combined with a lack of regulation preventing companies from collecting data without consent, has made it easier for criminals to exploit personal data. The scale is massive, and the impact can severely disrupt your life and that of your family.
TO READ MORE: https://www.yahoo.com/tech/think-youre-safe-identity-theft-150050449.html
News, Rumors and Opinions Sunday AM 12-15-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Sun. 15 Dec. 2024
Compiled Sun. 15 Dec. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Fri. 13 Dec. 2024 Wolverine: I am under an NDA, but want you to know that we are all going to have a very merry Christmas. Reno has been given the GREEN light and has started as there is movement. Please be patient as we are definitely going to have a merry, merry Christmas. I ask all of you to pray that nothing goes wrong.
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. 15 Dec. 2024
Compiled Sun. 15 Dec. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Fri. 13 Dec. 2024 Wolverine: I am under an NDA, but want you to know that we are all going to have a very merry Christmas. Reno has been given the GREEN light and has started as there is movement. Please be patient as we are definitely going to have a merry, merry Christmas. I ask all of you to pray that nothing goes wrong.
MilitiaMan: There’s 140 ambassadors already started arriving for a celebration in Basra Iraq.
Sat. 14 Dec. 2024 Fallawosophy: I’ve heard good news about movement in the RV. All info that I cannot share. It looks like 4b should kick off Monday.
Sat. 14 Dec. 2024 Sunny: We got early morning message from Reno and group leader. I’m just copy paste. “The money is there. It’s just logistical issues”
Sat. 14 Dec. 2024 Doc G: I can actually confirm that people are getting paid in Texas.
Fri. 13 Dec. 2024: BOOM!!! UP NEXT: Florida’s Explosive Plan to Use Gold and Silver as Currency, Bypassing the Federal Reserve System! – amg-news.com – American Media Group
Sat. 14 Dec. 2024: INTEL: Quantum Financial System, Global Currency Reset, and the Med Beds 5D ~ Trust the Plan! – amg-news.com – American Media Group
Fri. 13 Dec. 2024: MILITARY INTEL! Global Strategic Impact: Starlink’s Military Applications, RVs &GESARA, and the Quantum Financial System – amg-news.com – American Media Group
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Sat. 14 Dec. 2024 GLOBAL CURRENCY RESET: THE STORM IS HERE …Gitmo TV on Telegram (RUMORS)
Brace yourselves! The long-anticipated shift is upon us, and the wheels are turning faster than ever. Iraq’s oil-backed Dinar rate is confirmed to have revalued in-country, sparking seismic activity across the financial landscape. Reno is green-lit. Redemption centers are fully prepped, and sources confirm Tier 4b notifications could drop any moment.
Reports claim the Iraqi Dinar is actively being used at rates of $3.49 in-country and Kurdistan at $3.28. Rumors of Vietnam’s Dong revaluation are swirling, with insiders hinting at secret rates already circulating. This is not a drill.
On High Alert: Multiple trusted sources, including those directly connected to redemption centers, have confirmed that everything is ready to go. The Quantum Financial System (QFS) operates 24/7, bypassing traditional banking limitations. This means the trigger can be pulled on any day—weekend or not.
A Historic Moment: Iraqi PM recently finalized crucial Dinar negotiations, aligning with international partners. Ambassadors from 140 nations have gathered in Basra for an unprecedented celebration. UNESCO, UNICEF, the World Bank—they’re all in attendance. Why? Because Iraq is opening its gates to global investors in a bold, history-making move.
Meanwhile, whispers from trusted Arabic sources claim Syria has revalued its currency, signaling a domino effect.
Bondholders and Tier 4b participants are on edge, awaiting the call that will change everything.
MedBeds Are Coming: Don’t forget to ask about MedBeds during your redemption appointment. These revolutionary healing technologies will be available shortly after the process begins, offering unprecedented solutions to health challenges.
This is it. Prepare for a monumental Christmas. Faithful insiders maintain the breakthrough will happen before the holidays. If not by then, mark your calendars for January 25. Either way, the world as we know it is about to change forever.
Stay vigilant, keep the faith, and remember: The Storm is real. Notifications could land in your inbox any second. Eyes open, patriots. This is the final countdown.
Read full post here: https://dinarchronicles.com/2024/12/15/restored-republic-via-a-gcr-update-as-of-december-15-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick There will be purchasing power. Article 12 means no restrictions. No sanctions. No auctions. All those equals no three zero notes. There's only one way for this to turn out...
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
CBI on TV talking about the dollar auctions are bad but as of today the CBI has started new mechanism for money transfers... FRANK: This is monetary reform education - boom - boom - boom - boom. With all the lies [out there], the whole team is coming out and telling you Iraqi citizens, relax. FIREFLY: The salaries of October, November and December will be paid to the Kurds as soon as possible. Then they talked about a 15-day period that started on November the 28th in which the dollar auctions will end. That put the date as this Sunday the 15th...
5 SHOCKING Indicators the Economy is Heading for Total Collapse
The Jay Martin Show: 12-14-2024
Today on the Jay Martin Show, Jay sits down with Danielle DiMartino Booth, CEO of QI Intelligence and author of Fed Up. the pair dissect critical economic and geopolitical trends shaping today's markets. They explore the historic overvaluation of the stock market, rising consumer debt, and the hidden vulnerabilities in the gig economy.
Danielle offers insights into the challenges facing commercial real estate, multigenerational housing trends, and the surge in build-to-rent developments.
The conversation also touches on Canada’s shifting economic landscape, the implications of leadership vacuums, and what lies ahead for global markets in 2025.
Do we still need to worry about CBDCs? | David Morgan
Arcadia Economics: 12-14-2024
We've been hearing about the CBDCs for years. And now as the governments continue to feel the weight of their debt, and the soon to be treasury secretary is talking about a 'Bretton Woods realignment,' do we still need to be concerned about them trying to jam a CBDC down everyone's throat?
To find out more, click to watch the video now!
“Tidbits From TNT” Sunday Morning 12-15-2024
TNT:
Tishwash: The Central Bank and the Securities Commission sign a joint memorandum of understanding to enhance cooperation
The Securities Commission announced today, Sunday, the signing of a joint memorandum of understanding with the Central Bank to enhance cooperation.
The Deputy Chairman of the Securities Commission, Nagham Hussein Ismail, said: “Based on the joint cooperation between government institutions, and in view of the desire of the Securities Commission and the Central Bank of Iraq to create a joint cooperative framework for both parties that contributes to achieving the goals of sustainable development in the banking sector, a memorandum of understanding was signed between the two parties.”
TNT:
Tishwash: The Central Bank and the Securities Commission sign a joint memorandum of understanding to enhance cooperation
The Securities Commission announced today, Sunday, the signing of a joint memorandum of understanding with the Central Bank to enhance cooperation.
The Deputy Chairman of the Securities Commission, Nagham Hussein Ismail, said: “Based on the joint cooperation between government institutions, and in view of the desire of the Securities Commission and the Central Bank of Iraq to create a joint cooperative framework for both parties that contributes to achieving the goals of sustainable development in the banking sector, a memorandum of understanding was signed between the two parties.”
She added, "The signing of the agreement came to enhance cooperation between the two parties in the field of information related to shareholders, and to benefit from the electronic window of the shareholders' system approved by the Iraq Stock Exchange." link
Tishwash: To discuss the budget and salaries of Kurdistan.. A delegation from the regional government arrives in Baghdad
A high-level delegation from the Kurdistan Regional Government arrived this morning, Sunday.KurdistantoCapital BaghdadTo discuss a number of files, most notably the budget and salaries of the region’s employees.
The spokesman wasMinistry of FinanceThe Minister of Economy in the Kurdistan Regional Government, Honar Jamal, confirmed yesterday, Saturday, that the Minister of Finance and Economy in the Regional Government, Awat Sheikh Janab, will head the government delegation.
He explained that "the delegation will meet with the Federal Minister of Finance, Taif Sami, to discuss the issue of salaries of the region's employees for the months of October, November and December of 2024, in addition to discussing amending the federal budget and the region's share in the 2025 budget." link
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Tishwash: Parliamentary Finance Committee reveals the impact of the delay in 2025 schedules on salaries and projects
The Parliamentary Finance Committee revealed, today, Sunday, the extent of the impact of the delay in the 2025 budget schedules on projects and salaries for the next year.
Committee member Mustafa Al-Karawi said, “The budget is a three-year budget, so its texts are ongoing, except for the tables, which are revised and amended according to the actual spending and expenditure,” noting that “the projects that operate in arms and are ongoing will continue their work.”
He explained that "the current ongoing projects will remain, and salaries will continue for next year, even if the approval of the 2025 schedules is delayed," adding that "the new inclusion of new projects will be suspended until the schedules are approved, because a new project cannot be included, and spending will continue on the 2024 schedules, until the new schedules are approved, and then new projects can be included."
Expectations indicate that the 2025 schedules will be delayed for a long time, because the parliament’s legislative recess will not end until January 9th of next year, 2025.
The schedules will also remain suspended until the completion of amending the budget law, specifically paragraph 12 related to the Kurdistan region, which faces severe disagreements, which will lead to obstructing the amendment of the budget or approving the schedules. link
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Tishwash: Due to power outage, the dollar market and banks close their doors in Sulaymaniyah
A local source confirmed, today, Sunday (December 15, 2024), that the "dollar market" and banks in Sulaymaniyah Governorate closed their doors due to a power outage.
The source said in an interview with " Baghdad Today " that "the buying and selling operations and money trading in the dollar market have almost completely stopped and the market in Sulaymaniyah has been closed, and the banks have also been closed due to the power outage."
National electricity has been cut off throughout Sulaymaniyah since this morning.
The Director General of Sulaymaniyah Electricity, Anwar Hama Saeed, said in a press statement followed by " Baghdad Today" that "electricity has been cut off in all parts of Sulaymaniyah since four o'clock in the morning today."
The concerned authorities have not yet announced the reasons for the power outage. link
Mot: ..... what happened????
Mot: ... word to the Wise
“News and Views” Posted by Frank26 and Clare at KTFA
KTFA:
Frank26” "AGAIN GOALS OF THE MONETARY REFORM SECURITY & STABILITY"......F26
Opening of a dollar exchange outlet at Kirkuk International Airport
12/22/2024 Kirkuk/
The Executive Director of Kirkuk International Airport, Abdul Samad Al-Kubaisi, opened an outlet to sell foreign currency (dollars) to travelers at the airport, at the official rate of 132 thousand dinars per 100 dollars.
Al-Kubaisi stressed: "The step of opening a new outlet at the airport will have positive effects, especially since it takes a short time for the traveler to get his need for dollars," noting: "The work of exchange companies at the airport will be monitored by the Central Bank of Iraq." LINK
KTFA:
Frank26” "AGAIN GOALS OF THE MONETARY REFORM SECURITY & STABILITY"......F26
Opening of a dollar exchange outlet at Kirkuk International Airport
12/22/2024 Kirkuk/
The Executive Director of Kirkuk International Airport, Abdul Samad Al-Kubaisi, opened an outlet to sell foreign currency (dollars) to travelers at the airport, at the official rate of 132 thousand dinars per 100 dollars.
Al-Kubaisi stressed: "The step of opening a new outlet at the airport will have positive effects, especially since it takes a short time for the traveler to get his need for dollars," noting: "The work of exchange companies at the airport will be monitored by the Central Bank of Iraq." LINK
Frank26: "BECAUSE OF A NEW EXCHANGE RATE, NOT BECAUSE OF A PROGRAM RATE".........F26
Governor of the Central Bank of Iraq receives a delegation from the International Finance Corporation
December 11, 2024
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the International Finance Corporation, which included the Director of the Financial Sector of the Corporation in the region, Mr. Yousef Habash, and Mr. Bilal Al-Zughair, the Resident Representative in Iraq, the Financial Investment Officer, and the Head of the Advisory Department.
During the meeting, they discussed strengthening bilateral relations between the Central Bank of Iraq and the International Finance Corporation, the importance of cooperation between local banks and correspondent banks with technical support from the Corporation, and the development of Islamic banks operating in Iraq, in addition to the banking reforms carried out by the Bank in cooperation with the relevant authorities, especially the restructuring of government banks, and the role of international companies operating in this field (Ernst & Young and Oliver Wyman).
His Excellency the Governor discussed the proposal to establish a leasing company with local and foreign contributions, which is one of the financial systems used to provide financing for projects and individuals without the need to directly purchase assets such as machinery and industrial equipment, vehicles, offices, and warehouses. This proposal supports emerging projects and small and medium-sized companies looking for easy and flexible financing.
The meeting discussed the importance of launching Riyada Bank next year, which will support projects with small and medium-sized loans, in line with the government’s vision to support graduates and entrepreneurs and develop labor markets.
Central Bank of Iraq
Media Office
December 11, 2024
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Clare: Ministry of Transport announces that the completion rate of the development road project designs has increased to 63 percent
12/14/2024 Baghdad - WAA
The Ministry of Transport announced, today, Saturday, the completion rates of the strategic development road project, which is scheduled to open in 2029.
The Ministry's media office said in a statement received by the Iraqi News Agency (INA), "Accurate topographic survey operations have begun, extending from Al-Faw to the southeast of the Najaf Ashraf station, where an accurate topographic survey was conducted for the areas associated with passenger stations, container stations, storage stations, and ferries, including streams and rivers," noting that "the topographic survey is carried out using aerial photographs and surveying devices connected to satellites to ensure high accuracy."
He added that "the area ranges from 5 mm to 10 mm, and the survey includes all details related to the site to ensure proper planning for each part of the project, and that the topographic survey operations are scheduled to be completed to the Turkish border within the established timetables."
The media office confirmed that "the completion rates for the detailed designs phase of the railway line reached 64% and the land route 60%, while the cumulative completion rates for the detailed designs of the project reached 63%."
The statement indicated that "the development road, according to the designs, is at a distance that allows opportunities to connect the governorates to the project stations and benefit from both sides of the road, and the passage between the railway and land lines, while the Faw Port, which will be operated in 2025, will be used as a first phase, as it is an economic marine station for the project in addition to the presence of the industrial city, which will be the largest in the Middle East."
It indicated that "the Minister of Transport, Razzaq Muhaibis Al-Saadawi, directed the need to follow up on the work of the development road project, the first phase, which is known as the rehabilitation and re-operation phase of the current railway lines and preparing them to work in conjunction with the operation of the Grand Faw Port in 2025, and that the Italian company BTP provides consulting services regarding the first phase of the development road project (specific to rehabilitating the current railways), to be a strategic line ready for the safe transport of incoming cargo via railway lines, from the Grand Faw Port, which the ministry intends to operate in its first phase during the coming year."
It is noteworthy that the Ministry of Transport has developed integrated strategic plans for the transport sector with the development road project by land, rail, sea and air by linking airports to the development road project and benefiting from them by achieving integration that includes a number of operating and effective airports for the governorates located on the project, such as Basra Airport, Najaf Airport and Baghdad Airport, in addition to other airports that will be completed and opened in 2025, which are the airports of (Nasiriyah, Karbala, Mosul). LINK
Clare: Blinken: I was amazed when I arrived in Baghdad by the construction in Iraq and the vitality of the capital
12/14/2024 Baghdad - WAA
US Secretary of State Anthony Blinken expressed his astonishment today, Saturday, after his recent visit to Baghdad, at the construction in Iraq and the vitality in the capital, while indicating that the Iraqi people deserve this development.
"I was amazed when I arrived in Baghdad by the construction and vitality of the capital," Blinken said in a speech to reporters after leaving Baghdad, as followed by the Iraqi News Agency (INA), indicating that "important work has been accomplished to ensure that Iraqis receive the necessary services to build a better life."
He pointed out that "it is impressive that these changes are happening, and the Iraqi people deserve this development."
Yesterday evening, Prime Minister Mohammed Shia received US Secretary of State Anthony Blinken and discussed with him bilateral relations between the two countries, ways to enhance joint cooperation, as well as discussing the situation in the region, developments in the current events in Syria, and the regional and international efforts required to enhance security in Syria and the stability of the entire region. LINK
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Clare: Al-Sudani: There are suspicions of corruption in all loan transactions in Iraq
12/14/2024
Prime Minister Mohammed Shia al-Sudani acknowledged, on Saturday, that there were suspicions of corruption in financial loan transactions issued by Iraqi government banks.
In a speech he gave during the opening ceremony of the first Riyada Initiative Conference and Exhibition in the capital, Baghdad, Al-Sudani praised the role of banks in the process of lending to the youth participants in that initiative, adding that “let us admit that there are suspicions of corruption in all loan transactions, which we have reached in our previous experiences.”
He added, "We are facing a new reality and a new era for Iraq in which all its capabilities and natural resources that were not properly invested are invested, and these small projects will be the nucleus for other medium and large projects," noting that "most advanced industrial countries started with small projects and ended with large companies that sponsor a full spectrum of small companies."
Al-Sudani continued by saying: We are working on developing various sectors, and in partnership with foreign companies, the local product must be present, noting that “parts of the automobile industry can be manufactured in local workshops, and government banks will be present in supporting (Riyada) initiatives.”
The Prime Minister concluded his speech by saying: We have an integrated vision that starts with the youth to cover the needs of the local market for goods. LINK
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Clare: Iraq on the map of change" .. Expert: Expected international decisions will be taken before Trump's arrival
12/13/2024 Baghdad
Political affairs researcher Muhammad Ali Al-Hakim commented on Friday (December 13, 2024) on the call of the United Nations representative in Iraq to take new decisions that serve the current situation to avoid crises in Iraq.
Al-Hakim said in an interview with "Baghdad Today" that "the call of the UN representative after meeting the religious authority in Najaf to take new decisions that serve the situation in Iraq to avoid crises carries a clear message that Iraq is heading towards changes," noting that "there are important decisions that will be taken in the near future related to the changes taking place in the region, especially with Trump's imminent assumption of the presidency in the United States of America."
He added, "The unannounced visit of the US Secretary of State is to complete the upcoming changes in Iraq. There is international and UN movement towards Iraq, and for this reason the new phase will witness major changes on the internal level, as Iraq is part of the change in the map of the new Middle East."
Yesterday, Mohammad Redha, son of the supreme religious authority, Ali al-Sistani, received the representative of the Secretary-General of the United Nations, Mohammad al-Hassan, and his accompanying delegation, to discuss ways for Iraq to avoid any conflicts that would harm it.
This comes as US Secretary of State Anthony Blinken made a secret visit to Baghdad, where he met with Prime Minister Mohammed Shia al-Sudani, to discuss the situation in the region and developments in Syria, stressing the commitment of the members of the international coalition to the security, sovereignty and stability of Iraq. LINK
Iraq Economic News and Points to Ponder Saturday Afternoon 12-14-24
Blinken: The work and change taking place in Baghdad is surprising and admirable
Saturday 14 December 2024 10:41 | Politics Number of readings: 254 Baghdad / NINA / US Secretary of State Antony Blinken expressed his astonishment and admiration for the work and change taking place in Baghdad.
Blinken said in a speech to reporters after leaving Baghdad: "There is important work that has been done to ensure that Iraqis receive the necessary services to build a better life."
Blinken: The Work And Change Taking Place In Baghdad Is Surprising And Admirable
Saturday 14 December 2024 10:41 | Politics Number of readings: 254 Baghdad / NINA / US Secretary of State Antony Blinken expressed his astonishment and admiration for the work and change taking place in Baghdad.
Blinken said in a speech to reporters after leaving Baghdad: "There is important work that has been done to ensure that Iraqis receive the necessary services to build a better life."
He added: "I expressed my astonishment to Prime Minister Mohammed Shia al-Sudani when I arrived in Baghdad, with the construction and vitality of the capital, and there is important work that has been done to ensure that Iraqis receive the necessary services to build a better life."
He continued: "It is impressive that these changes are taking place," stressing: "The Iraqi people deserve this development." / End9 https://ninanews.com/Website/News/Details?Key=1174545
Gold Ends Two-Week Losing Streak
Money and business Economy News - Follow-up Gold prices posted a weekly rise, ending a two-week losing streak.
This came after investors raised their expectations this week that the US Federal Reserve would cut interest rates at its meeting next week.
Gold futures for February 2025 delivery were up 0.6 percent on the week, despite falling 1.25 percent, or $33.6, to $2,675.8 an ounce on Friday.
The dollar index, which measures the performance of the US currency against a basket of 6 major currencies, settled at 106.98 points.
Profit-taking weighs on gold prices
Markets are pricing in a 97.5 percent chance the Fed will cut rates by 25 basis points at its meeting starting next Tuesday, according to the FedWatch tool, up from 86 percent last week.
Goldman Sachs had expected gold prices to rise to $3,000 per ounce by the end of 2025.
The bank said in a note that the rise in gold will occur even if the value of the US dollar continues to rise.
Goldman Sachs analysts said on Wednesday that markets could see increases in both gold prices and the value of the dollar in 2025, due to lower interest rates and increased uncertainty. 73 views - https://economy-news.net/content.php?id=50854
Gold Heads For Weekly Gain Of Over 2%
Money and business Economy News - Follow-up Gold prices are heading for weekly gains, and were slightly higher in early Friday trading, supported by reports that China, the largest gold consumer, has resumed its purchases and growing expectations that the Federal Reserve will cut interest rates at its meeting on Dec. 17-18.
Update prices
Spot gold rose 0.3 percent to $2,688.29 per ounce by 0320 GMT, and was on track for a weekly gain of more than 2 percent.
US gold futures settled at $2,711.30.
Traders are now focused on the Fed's interest rate decision, with the CME FedWatch tool pricing in a 96.4 percent chance of a 25 basis point rate cut.
Gold prices fell more than 1 percent on Thursday amid profit-taking after the metal briefly hit a five-week high earlier in the session.
U.S. producer prices rose more than expected in November, amid higher food costs. Data released Wednesday showed consumer prices rose by the most in seven months in November, boosting bets on interest rate cuts.
The European Central Bank cut interest rates for the fourth time this year and the Swiss National Bank cut rates by 50 basis points, its biggest cut in nearly a decade, on Thursday.
Gold prices usually rise in a low interest rate environment.
As for other precious metals, silver settled at $30.94 per ounce, according to Reuters data.
Platinum rose 0.4 percent to $933.65. Palladium fell 0.1 percent to $969.09. Both metals were on track for weekly gains. 98 views Added 12/13/2024 - https://economy-news.net/content.php?id=50824
Dollar Closes Higher Against Dinar In Baghdad And Erbil At The Beginning Of The Week
12/14/2024 Mawazine News – Economy The dollar prices rose in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, on Saturday with the closing of the stock exchange.
The dollar prices also rose with the closing of the Al-Kifah and Al-Harithiya stock exchanges to record 151,000 dinars for every 100 dollars, while this morning it recorded 150,650 dinars for every 100 dollars.
Selling prices rose in exchange shops in the local markets in Baghdad, where the selling price reached 152,000 Iraqi dinars for every 100 dollars, while the purchase price reached 150,000 dinars for every 100 dollars.
In Erbil, the dollar also recorded a rise, where the selling price reached 150,450 dinars for every 100 dollars, and the purchase price was 150,250 dinars for every 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=257458
Oil Rises 2% To Highest Level In 3 Weeks
Energy Economy News - Follow-up Oil prices jumped about 2 percent to settle at a three-week high on Friday, supported by expectations that additional sanctions on Russia and Iran will limit supplies and that interest rate cuts in Europe and the United States will boost fuel demand.
Brent crude futures rose $1.08, or 1.5%, to settle at $74.49 a barrel, while U.S. West Texas Intermediate crude futures rose $1.27, or 1.8%, to $71.29.
Today’s settlement was the highest for Brent crude since November 22, up 5% on the week. West Texas Intermediate crude gained 6% on the week and hit its highest since November 7.
"What drove the rally were... expectations of tighter sanctions on Russia and Iran, more supportive Chinese economic guidance, political unrest in the Middle East and speculation of a US rate cut next week," analysts at consultancy Ritter Busch & Associates said in a note.
The European Union agreed to impose a 15th package of sanctions on Russia this week over its war in Ukraine, targeting Russia's shadow fleet of tankers, and the United States is considering similar moves.
Britain, France and Germany told the UN Security Council that they were prepared, if necessary, to work to reimpose all international sanctions on Iran to prevent it from obtaining nuclear weapons.
Chinese data this week showed crude imports into the world’s biggest importer grew at an annual rate in November for the first time in seven months. China’s crude imports are expected to remain high until early 2025 as refiners lean toward increasing supplies from top exporter Saudi Arabia due to low prices and independent refiners rush to fill their quotas.
The International Energy Agency raised its forecast for demand growth to 1.1 million barrels per day in its monthly oil market report, from 990,000 barrels per day last month, citing stimulus measures in China.
The agency expects an oil supply surplus next year as non-OPEC+ countries are set to boost supplies by around 1.5 million barrels per day, led by Argentina, Brazil, Canada, Guyana and the United States.
The OPEC+ group includes OPEC member states and allies such as Russia.
Bloomberg reported that the OPEC member UAE intends to reduce oil shipments early next year as OPEC+ seeks stronger discipline in meeting production targets.
The price of Iranian crude to China has risen to its highest in years as U.S. sanctions limit shipping capacity and raise logistics costs. The incoming administration of U.S. President-elect Donald Trump is expected to ramp up pressure on Iran.
98 views Added 12/14/2024 - https://economy-news.net/content.php?id=50847
Al-Sudani Confirms That Modernizing Company Registration Work Is At The Heart Of Economic Reform Efforts, Combating Corruption And Improving The Business Environment
Political | 12/14/2024 Mawazine News – Baghdad Prime Minister Mohammed Shia Al-Sudani inaugurated today, Saturday, the new building of the Companies Registration Department, affiliated with the Ministry of Trade in the capital, Baghdad, and toured the building, during which he was briefed on the departments of the department and its work mechanisms.
Al-Sudani stressed the government's continuation of its special program to modernize the work of institutions and departments, and make them keep pace with technological developments and modern management systems, in a way that enhances the efficiency of administrative work. The
Prime Minister explained that developing the Companies Registration Department and modernizing its work mechanisms comes within the steps of administrative and economic reform, and at the heart of efforts to improve the business environment and achieve the goal of simplifying procedures to provide an attractive environment for investment, in addition to its important impact in combating corruption. https://www.mawazin.net/Details.aspx?jimare=257442
Al-Awadi: US Secretary of State praised the government's role in calming the region
Friday 13 December 2024 | Politics Number of readings: 110 Baghdad / NINA / Government spokesman Bassem Al-Awadi confirmed that the US Secretary of State praised the government's role in calming the region. / End 8 https://ninanews.com/Website/News/Details?Key=1174474
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Saturday Afternoon 12-14-24
Good Afternoon Dinar Recaps,
US SENATOR: NEW TREASURY SECRETARY WILL CHAMPION DIGITAL ASSETS
A senator hails Scott Bessent as a champion for digital assets, backing his Treasury Secretary nomination to advance a Strategic Bitcoin Reserve and reshape U.S. fiscal policy.
The Pro-Crypto Leader Poised to Shape US Fiscal Policy
U.S. Senator Cynthia Lummis (R-WY) has voiced firm backing for President-elect Donald Trump’s selection of hedge fund manager Scott Bessent as the next Treasury Secretary. Last month, Trump nominated Bessent to succeed Janet Yellen as the 79th U.S. Treasury Secretary.
Good Afternoon Dinar Recaps,
US SENATOR: NEW TREASURY SECRETARY WILL CHAMPION DIGITAL ASSETS
A senator hails Scott Bessent as a champion for digital assets, backing his Treasury Secretary nomination to advance a Strategic Bitcoin Reserve and reshape U.S. fiscal policy.
The Pro-Crypto Leader Poised to Shape US Fiscal Policy
U.S. Senator Cynthia Lummis (R-WY) has voiced firm backing for President-elect Donald Trump’s selection of hedge fund manager Scott Bessent as the next Treasury Secretary. Last month, Trump nominated Bessent to succeed Janet Yellen as the 79th U.S. Treasury Secretary.
Lummis emphasized that his appointment could bolster her recently proposed legislation advocating for a Strategic Bitcoin Reserve. This initiative, formally known as the BITCOIN Act, was unveiled in July and aims to establish a federal bitcoin reserve to fortify the U.S. dollar and tackle the growing national debt. The senator expressed her enthusiasm on the social media platform X on Friday, stating:
Scott Bessent will be a champion for digital assets and a crucial ally in passing my Strategic Bitcoin Reserve.
“I look forward to working closely with the future Treasury Secretary to restore fiscal responsibility!” she added.
The concept of a U.S. strategic bitcoin reserve has gained traction recently, with several states initiating legislative efforts to establish such reserves. Notably, Texas introduced House Bill 1598, aiming to create a strategic bitcoin reserve funded through donations and gifts, allowing residents to pay taxes in bitcoin.
Similarly, Pennsylvania proposed legislation permitting its treasury to allocate up to 10% of state funds into bitcoin. At the federal level, Trump has advocated for a national bitcoin reserve, a proposal that has sparked debate among experts regarding its feasibility and potential economic impact.
These developments reflect a growing interest in integrating bitcoin into governmental financial strategies across the U.S.
Supporters of the decision have praised Bessent’s openness to cryptocurrency innovation. Ripple CEO Brad Garlinghouse, for instance, commented on X: “I don’t want to get too far ahead of myself but… Scott Bessent is the perfect pick by Donald Trump. He will be the most pro-innovation, pro-crypto Treasury Sec we’ve ever seen.”
Bessent, who founded Key Square Capital Management and previously served as chief investment officer for George Soros, has gained recognition for his macroeconomic acumen. Known for advocating deficit reduction and regulatory reform, his nomination has been met with optimism by financial markets and business leaders. Many anticipate his leadership could foster policies favorable to cryptocurrency, potentially advancing proposals such as Lummis’s bitcoin reserve plan.
@ Newshounds News™
Source: Bitcoin News
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BANK OF ENGLAND GIVES CRYPTO FIRMS TILL MARCH 2025 TO DISCLOSE DIGITAL ASSET EXPOSURE
England’s central bank is giving companies until March 2025 to disclose their exposure to digital assets.
In a new announcement, The Bank of England says that the Prudential Regulation Authority (PRA) – the UK’s financial regulator – is looking to gather data on firms’ current and future exposure to crypto assets.
“This [data] will inform work across the PRA and the Bank of England on crypto assets by helping us calibrate our prudential treatment of crypto asset exposures, analyze the relative costs and benefits of different policy options and providing an updated view of firms’ current and intended crypto asset-related business activities as a base from which to monitor the financial stability implications of these assets.”
Some of the disclosure requirements include any business related to digital assets and how the bank profits from it, risk management policies of the bank toward crypto, a rundown of how the bank reports its crypto assets, and the most significant crypto-related risks the firms are exposed to and how they plan to manage them, according to the PRA’s questionnaire.
“The decision to hold crypto assets (either under trading or banking book) and provide services to crypto asset operators must be fully consistent with the bank’s risk appetite and strategic objectives as set down and approved by the board, as well as with senior management’s assessment of the bank’s risk management capabilities.”
According to the PRA’s second framework for crypto assets, which was released in 2022, firms still cannot completely mitigate the risks of using permissionless blockchains.
@ Newshounds News™
Source: DailyHodl
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@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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US Dollar will Look Like Pump and Dump Stock
US Dollar will Look Like Pump and Dump Stock
David Lin: 12-13-2024
In recent discussions around the health and future of the U.S. dollar, Morgan Lekstrom, President and Director of NexGold Mining Corp., shared a striking perspective, suggesting that the dollar could resemble a “pump and dump” stock.
This metaphor implies a volatile and deceptive cycle wherein the value of the dollar is artificially inflated only to be discarded quickly, leaving investors vulnerable to significant losses.
US Dollar will Look Like Pump and Dump Stock
David Lin: 12-13-2024
In recent discussions around the health and future of the U.S. dollar, Morgan Lekstrom, President and Director of NexGold Mining Corp., shared a striking perspective, suggesting that the dollar could resemble a “pump and dump” stock.
This metaphor implies a volatile and deceptive cycle wherein the value of the dollar is artificially inflated only to be discarded quickly, leaving investors vulnerable to significant losses.
The context of Lekstrom’s remarks stem from the increasing concerns over inflation, geopolitical instability, and a shifting global financial landscape that has many investors seeking safety in tangible assets like gold. As the U.S. grapples with economic uncertainties, the question looms large: is the faith in the dollar waning?
The U.S. dollar has long been considered the world’s reserve currency, dominant in international trade and finance. However, its status is under scrutiny as countries around the globe explore alternatives. The vast debt levels in the U.S., increasing inflation rates, and fears of a recession are causing some analysts to rethink the dollar’s reliability.
As Lekstrom pointed out, this environment creates the potential for a “pump and dump” scenario, where the dollar’s apparent strength could be short-lived and misleading.
At the same time, a noteworthy phenomenon is unfolding: a global “gold arms race.” Nations are ramping up gold purchases as a means to diversify their reserves and hedge against inflation and currency fluctuations. Central banks and large investors are acquiring gold at an unprecedented pace, signaling a movement towards more tangible forms of wealth preservation. This trend reflects a growing distrust in fiat currencies like the dollar, as countries seek to safeguard their financial systems from the perceived volatility linked with reliance on a single currency.
China and Russia are two of the most notable players in this gold rush. Both countries have significantly increased their gold reserves in recent years, partly in response to mounting tensions with the U.S. and its allies. This shift illustrates a broader strategy of reducing dependency on the dollar and strengthening their financial independence.
The implications of a potential decline in the dollar’s value are profound. If the dollar continues to weaken, it could lead to heightened inflation within the U.S., as the cost of imports rises.
Additionally, a diminished dollar could trigger a reassessment of global trade relationships and the balance of economic power, facilitating a shift towards a multi-polar currency system.
Furthermore, the transition to alternative currencies, or the adoption of a gold-backed standard by some nations, could complicate the dollar’s dominance in international markets. In this new ecosystem, equities in gold will likely gain favor—shifting investment strategies and prompting increased interest in mining companies like NexGold Mining Corp., which stands to benefit from a burgeoning demand for gold.
The forecast for the U.S. dollar, as articulated by Morgan Lekstrom, illustrates a precarious chapter for American currency. With growing evidence of a global “gold arms race,” investors and policymakers alike must navigate a complex new financial landscape where the sustainability of the dollar is increasingly in question.
As nations fortify their gold reserves, the strategies that were once heavily reliant on the dollar may need to be reevaluated, signaling a potential end to an era of dollar supremacy.
In this evolving scenario, the prudent investor may find that reallocating resources towards gold and mining firms could serve as a safeguard against the impending volatility of a dollar that many are now beginning to view with reservation.
As history has shown, those who adapt to change can often thrive, even amidst uncertainty.
News, Rumors and Opinions Saturday 12-14-2024
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 Sat. 14 Dec. 2024
Compiled Sat. 14 Dec. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Judy Note: No one knows the exact timing for notification of Tier 4b (Us, the Internet Group) to make their redemption/ exchange appointments. Iraq has(allegedly) long passed their HCL Law (which was needed to establish the Dinar Rate based on oil prices). The US and Canada started (allegedly) paying VIPs on Wed. 4 Dec, Thurs. 5 Dec, and Fri. 6 Dec. The Iraqi Dinar was (allegedly) being paid at $3.49 in-country. On Tues. 3 Dec. Kurdistan was (allegedly) using the Dinar in-country at a $3.28 rate. Rumor was that the Dong had also revalued and had an unknown in-country rate.
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 Sat. 14 Dec. 2024
Compiled Sat. 14 Dec. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Judy Note: No one knows the exact timing for notification of Tier 4b (Us, the Internet Group) to make their redemption/ exchange appointments. Iraq has(allegedly) long passed their HCL Law (which was needed to establish the Dinar Rate based on oil prices). The US and Canada started (allegedly) paying VIPs on Wed. 4 Dec, Thurs. 5 Dec, and Fri. 6 Dec. The Iraqi Dinar was (allegedly) being paid at $3.49 in-country. On Tues. 3 Dec. Kurdistan was (allegedly) using the Dinar in-country at a $3.28 rate. Rumor was that the Dong had also revalued and had an unknown in-country rate.
Fri. 13 Dec. 2024 Wolverine: You know I am under NDA, so I cannot talk about specific platforms and I know you will respect the fact that I cannot speak of this. What I can tell is that we are ready! We are ready and Reno has been given the GREEN light. This is official from what I have been told. This is from a person at the redemption center. Things are ready to roll.
Looks like Bruce was right. It looks like either today or tomorrow for funds to be released. Everyone is so stressed right now as it appears things are definitely going to happen.
I have wonderful news I would like to share with all of you about Mauricio Castanio. He is one of the largest whales in the RV – his platform goes out to about 30 countries around the world to give aid to many people. He is purely Nesara/Gesara. He has just received the Humanitarian Award and for Peace on this Planet by the Government of Colombia.
I will post this in the Chosen One room for all to see. This was given to him by the President of Colombia for recognition of 20 + years’ work he has done to help humanity. It is a magnificent recognition for his achievement.
Nothing more I can to you right now. Just get ready. This IS IT. We are going to have a MERRY CHRISTMAS! The notifications should come out either today or tomorrow. I know all of you are sick of hearing tomorrow, and we pray it is today. The notification will be coming from a website. Please keep an eye on your emails. If you receive the notification first let us know so I can place that Website in the Chosen room so everyone can have access to that notification.
This will be very emotional for all of us. I also received intel from an Arabic person who happens to be a Christian preacher! He is a good friend of mine! He told me that Syria has revalued their currency ! This just came out and he has very good intel. I cannot tell you more.
Lots of people under lots of pressure to get this done. It could happen today. Some people say banks are closed on Saturday and Sunday, but it does not matter, it goes through the QFS and it can go any day, banks open or not. QFS is open 24/7. It can be done on any day.
It has been so difficult not getting enough sleep, I pray this finishes soon, so I can get cured, hear again, listen to music, and I also pray for all those suffering from health issues. As soon as I get that call, the notifications will come out, and the opera will come out. The YouTube video will be first. Carpathia will say something special, and I am sure will say something that will reach everyone’s heart and probably make us all cry, probably, and then the opera will come out. It will be live on the PPN Channel through Chas, who has been gracious to do this for us, as you cannot do this on the Telegram Channel.
Remember the Medbeds will be available ASAP after the redemption center appt, so ask for the phone number while you are there. REMIND them about the Medbeds! God bless you All. Have faith. I am not here to cause harm or create hopium as I am in the same situation as each of you. I am sure we will have a very good Christmas! …Morisha said it will come before Christmas and if it doesn’t come by Christmas, then it will be the 25th of Jan.
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Fri. 13 Dec. 2024 Wolverine Member: I just received a call from my X*X platform, informing me that my notification is currently in an emailing mode, with a time set for this Saturday 14th December 2024.
Thurs. 12 Dec. 2024 Bruce: We are hearing we will have an amazing weekend. Notification for Bond Holders and us in Tier4b will be on Sat. 14 Dec.
Thurs. 12 Dec. 2024 Militia Man: There’s 140 ambassadors already started arriving for a celebration in Basra Iraq. For what? A historic event inclusive, UNESCO, UNICEF, the World Bank, deputy ambassadors. Why would they all be there? For what? Because they’re going to showcase, for all the investors. What are they going to showcase? Iraq’s basically sounding like they’re going to open to the world. I don’t know about you but I’m really excited! I’ve been white knuckling it for a few days. Let’s watch what they do, let’s watch what they say.
Fri. 13 Dec. 2024 Ginger of Liberty Lounge: On Wed. 11 Dec. the Iraqi PM finished his work on the Iraqi Dinar and left to reconcile accounts with the King of Jordan – who is Trustee of the Iraqi Dinar. A new Iraqi Dinar rate has been used in-country for the last couple of days. On Thurs. 12 Dec. Reno was officially put on High Alert. I repeat, yes indeed, they are, in fact, on High Alert this very moment.
Fri. 13 Dec. 2024 Jentel: Iraq is doing RV in-country RV in Iraq right now. So many confirmations coming in that she can’t share. Antiquities are getting turned in now as well. She believes that bonds are moving now. We will see notifications Fri. 13 Dec, in the Gazette on Sat. 14 Dec. It’s just taking longer to complete things behind the scenes.
Sat. 14 Dec. to Mon. 16 Dec. 2024 Birdieorbust Regarding the rumor of 96 hours left to go: This matches the timeline MarkZ expressed of Sat. 14 Dec. through Mon. 16 Dec, so we shall see. But things are happening in Iraq and it has to spill over to us before long.
The Vietnamese Dong: 5MinutesAgo VIETNAMESE DONG New Exchange Rates Latest Iraqi Dinar Updates
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Global Financial Crisis:
Fri. 13 Dec. 2024 Wells Fargo to Trim Oregon Workforce by 700 Due to Closures: https://www.opb.org/article/2024/12/04/wells-fargo-oregon-workforce-salem-hillsboro-portland-office-closures-layoffs/
Read full post here: https://dinarchronicles.com/2024/12/14/restored-republic-via-a-gcr-update-as-of-december-14-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 With our contacts with private banks in and outside of Iraq they're all telling us they are extremely busy. They're all telling us that they're getting ready for you [Iraqi citizens].
Militia Man There's still some people out there that just don't want Iraq to move forward because the status quo, the way it's going, they're making nothing but money by stealing money by the government... December 15, I believe remittance auctions will cease...That may be the last you see of the dollar auctions...They're pushing towards getting rid of the illegal market smuggling... Article quote: "Advisor to the Prime Minister Saleh confirmed again...that tightening the control over suspicious financial transfers reduces manipulation of the exchange rate and the stability of the national currency..." Cessation of these auctions of the dollar and the illegal trade, it's going to do wonders. That's their focus and they're not deviating...
'Grand Reconciliation of Asset Prices' as Chaos Erupts with Michael Pento
WTFinance: 12-13-2024
On this episode of the WTFinance podcast I had the pleasure of welcoming back Michael Pento. Michael is the President & Founder of Pento Portfolio Strategies.
During this conversation we spoke about the current market outlook, why the market is dangerous, cutting government costs, is inflation an issue, asset bubbles, whether the middle class can be saved and more. I hope you enjoy!
0:00 - Introduction
0:59 - Market outlook
2:38 - Why is the market dangerous?
8:06 - How does the US get out of this?
9:43 - Cutting government costs?
11:36 - Inflation an issue?
20:28 - 3 Asset Bubbles
22:58 - Which sectors benefitting?
25:08 - Next stage
24:53 - Can the middle class be saved?
27:53 - One message to takeaway from conversation?
Weekend News With MarkZ 12-14-2024
Weekend News With MarkZ
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
MZ: It is finally the weekend! You guys know the drill, we spend the first 45-60 minutes talking with Matt and Lucus at CBD Gurus today. We dive into the news of the day afterwards
Member: GM Mark, Mods and Family! Are we there yet?
Member: I'm wondering how many of the people in here believe that this is our weekend?
Weekend News With MarkZ
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
MZ: It is finally the weekend! You guys know the drill, we spend the first 45-60 minutes talking with Matt and Lucus at CBD Gurus today. We dive into the news of the day afterwards
Member: GM Mark, Mods and Family! Are we there yet?
Member: I'm wondering how many of the people in here believe that this is our weekend?
Member: I WANT to believe it's this weekend!
Member: It certainly could be this weekend!
MZ: We sure hope it’s this weekend….things have sure gotten interesting
Member: I think it will happen the week of the 25th.
MZ: some would agree with you. It is our understanding that the St. Germaine trust is easiest to open at Christmas and Easter- so it could be. This has been talked about for at least 20 years. But I still hope its sooner.
Member: I have been told by a great contact the money would be given on Christmas Day because of St.Germains trust!!
MZ: I got some reports from contacts in Iraq that they now have a lot more money than they used to have……but they won’t say how or why….just that they have a lot more money than they had.
MZ: They had told me they had expected to exchange sometime around Victory Day on Dec 10th. But they will not tell me where their sudden wealth has come from. I think things have started at the upper levels in Iraq. I am pretty excited.
Member: I believe Iraq has revalued in country and budget, etc passed. We're just waiting for our turn. it's coming...
MZ: I believe it has as well. Maybe that is why some of my best Iraqi contacts are not saying anything but they suddenly have dollars (dinars?) . I will be happier though when you and I also have dollars.
Member: Tomorrow the auctions for US dollars are supposed to stop-According to MilitiaMan and Frank26
MZ: “ Iraq within the map of change: Specialist-Upcoming international decisions will be taken before the arrival of Trump” They want to make sure everything is finished before Trump takes office. There is a massive push as they want to be allies and very strong.
Member: Al-Yasiri, “Trump is planning major changes in the Middle East region...the region's entering a new phase, Iraq will be at the forefront of these changes in terms of the security/ economic reality."
MZ: There are a lot of economic reforms they want to make before then as well. There is a mad dash in Iraq to be finished.
Member: most of the changes Iraq wants will take a rate change , correct?
Member: And yes it addresses the exchange rate of the Iraqi dinar as well..
MZ: And there is the collapsing of Iranian influence in Iraq which should help them push forward.
MZ: “It includes factions from three countries including Iraq: Shite crescent collapse puts Iraq left with options” they are talking about the fall of the Iranian presence with the fall of Syria and Assad. Iran is tucking tail and going home…many also leaving Iraq.
Member: I think the 140 ambassadors visiting Iraq this weekend is exciting
Member: and the best time to release rate changes is supposedly on Saturday nights when most banks are closed…
Member: We should rejoice with Iraqi people because they have gotten their freedoms/country back. The controls of other countries is dissolved.
Member: All we need is the re-value amount on the Dinar.
Member: Debt clock shows almost 3000 new millionaires since 12/12
Member: Rumor is Reno was given the green light
Member: Mark, You have been saying that you think the RV is imminent and will happen before Trump's inaugeration. But how can we get switched to the new Gold-backed USN before Trump is in office?
Member: Maybe the financial system crashes…then they have to do it
Member: I think we just might get awesome news by tomorrow!
Member: Hope everyone has a great weekend. Enjoy the Full Moon as it officially kicks off the season....
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...
Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
THANK YOU ALL FOR JOINING. HAVE A BLESSED WEEKEND! SEE YOU ALL MONDAY MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!
The Most Insolvent Bank In The History Of The World Is. …..
The Most Insolvent Bank In The History Of The World Is. …..
Notes From the Field By James Hickman (Simon Black) December 12, 2024
As the 1800s came to a close and the world propelled itself full of innovation and optimism into the 20th century, there was perhaps nowhere else on the planet more admired and envied (except for the United States) than Argentina.
In fact, just like America in the late 1800s and early 1900s, Argentina was overflowing with immigrants from all over the world looking for a better way of life in that land of opportunity.
The Most Insolvent Bank In The History Of The World Is. …..
Notes From the Field By James Hickman (Simon Black) December 12, 2024
As the 1800s came to a close and the world propelled itself full of innovation and optimism into the 20th century, there was perhaps nowhere else on the planet more admired and envied (except for the United States) than Argentina.
In fact, just like America in the late 1800s and early 1900s, Argentina was overflowing with immigrants from all over the world looking for a better way of life in that land of opportunity.
Argentina had already become a rich country at that point. And it was becoming richer so quickly that its economic growth was outpacing even that of the United States.
By 1900 Argentina’s economy was larger than the rest of Latin America combined, and roughly as large as all of Western Europe combined. It seemed like there was nowhere to go but up.
Plus the country was teeming with natural resources— everything from fresh water to some of the world’s most fertile soil, to vast oil and gas reserves. Argentina should have been unstoppable.
(This is still true today; Argentina still boasts one of the largest shale reserves in the world, having quadrupled its output over the last five years.)
You’d have to work really, really hard to screw up such wealth potential. And they did!
For much of the 20th century, Argentina slid into severe economic decay, and it remained that way for decades, mostly due to corrupt, excessive, outrageously irresponsible government spending and idiotic central planning.
Hyperinflation took hold, the banking system collapsed, and the economy has been in an extended depression.
Yet when the new chainsaw-wielding President Javier Milei took over last year, he pledged to change everything. And so far the results are pretty hard to argue with.
Earlier this week, Milei announced that Argentina has just posted a budget surplus— its FIRST surplus since those golden years in the early 1900s.
It’s not an accident. Milei has eliminated entire government departments, fired ministers, and dramatically reduced the size and scope of government.
In his announcement, Milei didn’t hold back, calling his predecessor a “fiscal degenerate” for ballooning the national debt and running massive deficits. These deficits, of course, were essentially funded by Argentina’s central bank, which printed all the money and created inflation.
Milei said that, just last year, his predecessor printed so much money that it was equal to roughly 13% of Argentina’s GDP.
Well, if printing 13% of GDP qualifies as fiscal degeneracy, then the Federal Reserve in the United States is guilty of the same thing— TWICE.
The first instance was in 2009, during the global financial crisis. Under then Chairman Ben Bernanke, the Federal Reserve created trillions of dollars of new money, roughly equivalent to 15% of GDP, to bail out the big Wall Street banks.
The second instance was during the pandemic in 2020 and 2021, when the Fed printed roughly 14% of GDP.
This reckless money printing not only engineered historic inflation in the US, but it also has created enormous problems for the Federal Reserve itself.
The Fed is now wildly and hopelessly insolvent. And that’s not some wild conspiracy theory; it is a fact straight from its own financial statements.
Here’s how it happened:
Going back to 2008, and most significantly during the 2020-2021 pandemic, the Fed created trillions of dollars, then used that money to buy government bonds. They concurrently slashed interest rates to zero.
The net result was that the Fed is now holding trillions of dollars worth of bonds at the lowest yields in recorded history.
But then they suddenly reversed course in 2022, hiking rates rapidly from 0% to more than 5%.
Well, if there’s one thing to understand about bonds, it’s that higher rates cause bond prices to fall. So when the Fed raised rates, they simultaneously caused the value of their bond portfolio to plummet.
And “plummet” is being rather polite.
As it stands today, the Fed faces $818.4 billion in net unrealized losses from all the bonds that it purchased during the pandemic— far exceeding the mere $44 billion it has in equity capital.
Literally according to its own financial statements, the Federal Reserve is totally insolvent. In fact, at nearly $1 trillion, the Fed is the most insolvent bank in the history of the world.
Talk about fiscal degenerates.
Now, the Fed has only a few options:
One, ignore the problem. Continue to pretend that the insolvency of the largest and most systemically important central bank on the planet is no big deal.
Two, request a bailout: Go to the Treasury with hat in hand.
The problem is, the Treasury doesn’t have any money; in fact, the US government already overspends by $2 trillion per year and has to borrow most of that money from the Fed.
So a bailout would first require the Fed to print money, loan that money to the Treasury, and the Treasury then gives it back to the Fed. Talk about bizarre.
The third option is to cut interest rates. Lower rates mean that its bond portfolio will increase in value, thus reducing the Fed’s near trillion-dollar insolvency.
But cutting rates would only invite more inflation.
Inflation is already creeping back. Just yesterday, the latest report showed an increase in the inflation rate with signs it will rise further. Yet the Fed has all but promised to cut rates again next week.
What’s clear is that the Fed is abandoning its responsibility to rein in inflation and maintain a sound currency. Instead, it’s inflating its way out of insolvency.
The result? Every single person who uses US dollars will end up bailing out the Federal Reserve through higher inflation.
And this is why we continue to maintain that real assets— which are an excellent inflation hedge— make so much sense, especially given that so many high quality real asset producers are selling at laughably low valuations.
To your freedom,
James Hickman Co-Founder, Schiff Sovereign LLC
PS: Just a reminder, this week we have opened up Total Access, our highest tier membership. We intentionally keep the membership closed for most of the year, to limit the group to a small, tight-knit community.
If you want to learn more about what Total Access offers, including the unparalleled camaraderie of fellow members, click here.
Seeds of Wisdom RV and Economic Updates Saturday Morning 12-14-24
Good Morning Dinar Recaps,
BRICS NEWS: CALLS TO MOVE AWAY FROM THE US DOLLAR IS GROWING
A handful of developing countries are inspired by the BRICS alliance to ditch the US dollar for cross-border transactions. Emerging economies are taking cues from the bloc to de-dollarize their economies and make local currencies the sole beneficiary for payments. The calls to cut ties with the US dollar are growing and the White House is unable to clamp it down.
Good Morning Dinar Recaps,
BRICS NEWS: CALLS TO MOVE AWAY FROM THE US DOLLAR IS GROWING
A handful of developing countries are inspired by the BRICS alliance to ditch the US dollar for cross-border transactions. Emerging economies are taking cues from the bloc to de-dollarize their economies and make local currencies the sole beneficiary for payments. The calls to cut ties with the US dollar are growing and the White House is unable to clamp it down.
BRICS members China, Russia, and Iran are advancing the de-dollarization initiative by pushing local currencies ahead for trade. The move is adding pressure on the greenback’s prospects as it could lose out on the demand and supply dynamics. They are also diversifying their central bank reserves by adding gold and other currencies and commodities.
BRICS Advancing To End US Dollar’s Supremacy
The central banks of BRICS and other developing countries are diversifying their reserves giving the US dollar a run for their money. “By diversifying their holdings reserves into a more multi-currency sort of portfolio. Perhaps they can reduce that pressure on their external sectors,” said Cedric Chehab from Fitch Solutions to CNBC.
As BRICS member China’s influence is growing, it is also setting the stage for the de-dollarization agenda to grow rapidly. “As China’s economic might continues to rise, that means that it’ll exert more influence in global financial institutions and trade,” he said. Another benefit for countries moving away from the US dollar as the middleman in bilateral trade
BRICS countries could benefit if they trade in local currencies as it’ll help them move up the value chain. Trading in local currencies “allows exporters and importers to balance risks, have more options to invest, to have more certainty about the revenues and sales,” said former Brazilian ambassador to China, Marcos Caramuru.
@ Newshounds News™
Source: Watcher Guru
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JAPAN’S LAWMAKER PROPOSES NATIONAL BITCOIN RESERVE
▪️Japanese lawmaker proposes a national Bitcoin reserve.
▪️States can effortlessly create reserves for Bitcoin.
▪️MicroStrategy holds a significant portion of the BTC supply.
Name similarity becomes intriguing in this development. Recently, a Japanese lawmaker presented a new proposal. As you may recall, several months ago, statements emerged from the Trump camp, led by Lummis, advocating for the U.S. government to establish a Bitcoin reserve. This proposal even evolved into a legislative bill.
Satoshi and the Bitcoin Reserve Idea
Trump appointed someone to organize cryptocurrency efforts at the White House before taking office in January. This individual will also work to realize the Bitcoin reserve concept. Today, Japanese parliament member Satoshi Hamada has taken steps to create a national Bitcoin reserve.
Satoshi Hamada, sharing a name with Satoshi Nakamoto, believes that his country should establish its strategic Bitcoin reserve before the U.S. implements this idea. Recently, Russian President Putin mentioned that Bitcoin would not be obstructed.
National Bitcoin Reserve
States can easily create reserves for Bitcoin and other cryptocurrencies with minimal effort. The fact that even Federal Reserve members, including the President, view Bitcoin as an “asset competing with gold” explains our current situation well. Governments already possess vast gold reserves and can similarly create reserves for Bitcoin, often referred to as “digital gold.”
MicroStrategy, MARA, RIOT, BlackRock, and thousands of companies have begun to hold BTC in their reserves. The world’s largest asset manager, BlackRock, has thousands of ETF customers indirectly holding BTC through its IBIT BTC ETF product.
Every week, we read news about institutions purchasing billions of dollars in BTC. Many companies are adding Bitcoin to their reserves to improve stock performance and increase share prices, with MicroStrategy being the most advanced player in this regard. It has grown significantly, with a strong likelihood of being added to the NASDAQ100 in March.
MSTR alone holds approximately 2% of the BTC supply. The total BTC held by ETF issuers, governments, private and public companies, BTC miners, and DeFi platforms is valued at $292 billion, representing 13.81% of the BTC supply.
@ Newshounds News™
Source: Coin-Turk
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@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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