The Next Big Catalyst for Gold will be a Stock Market Crash

Mike McGlone: The Next Big Catalyst for Gold will be a Stock Market Crash

Palisades gold Radio:  12-26-2024

Tom welcomes Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, to discuss commodities and their prospects for 2025.

McGlone acknowledges challenges such as lower oil and grain prices, harming producers due to a global surplus and decreasing Chinese demand driven by electric vehicle adoption. He anticipates continued declines in industrial metals like copper and explores geopolitical risks, particularly market implications of tensions between the US and adversaries - China, Russia, North Korea, and Iran.

McGlone suggests gold as a prudent investment due to its performance during volatile markets when stocks and Bitcoin underperform.

McGlone discusses technological advancements and their impact on the economy. He suggests an investment strategy of rotating between gold and Bitcoin at highs and lows based on their current divergence in performance.

McGlone expresses concerns over Bitcoin's excessive ETF inflows as a sign of market speculation.

Regarding silver, he suggests the silver-gold ratio should be higher based on volatility and historical patterns, with potential implications if China buys silver through ETFs to address economic challenges.

Anticipating potential corrections in the US stock market, increased unemployment, and bond yield issues could lead to a different silver-gold ratio.

Time Stamp References:

0:00 – Introduction

 0:47 - Commodities in 2025

3:22 - Global Demand Decline

5:08 - U.S. & China Deficits

10:38 - Commodities & Tariffs

 16:34 - Bitcoin 'Indicator'

20:22 - Tether & Treasuries

26:07 - Gold/Bitcoin Ratio

 30:28 - ETF Demand & Flows

33:16 - Market Correction?

37:04 - 2025 Gold Target

39:42 - Thoughts on Silver

42:25 - Concluding Thoughts

43:45 - Wrap Up

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

News, Rumors and Opinions Thursday 12-26-2024

KTFA:

Clare:  Iraq establishes 'investment portfolio' to support stability of national currency

 12/26/2024

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed Iraq’s first step after extinguishing its foreign debts towards establishing an investment portfolio to support the stability of the national currency.

 Saleh explained to {Euphrates News} that: "Since 2004, after Iraq was able to extinguish $100 billion of its accumulated debts, which are called pre-1990 debts resulting from wars and conflicts, and with the improvement in the current account of the balance of payments, the first step taken by Iraq was to establish an investment portfolio of foreign reserves."

He added, "Or what is called the country's foreign exchange reserves that perform the function of stabilizing the value of the national currency or what is called the external value of money."

Saleh said that "these assets that support the stability of the balance of payments and the national currency {i.e. foreign reserves} are one of the aspects of the sovereign funds called {quasi-sovereign wealth fund}."

He pointed out that "they differ from traditional sovereign funds in that their assets are characterized by high liquidity or investment in liquid or semi-liquid assets and are subject to a highly accurate diversification rule in foreign currencies and highly liquid financial investment tools by virtue of their function as international reserves supporting the balance of payments and stabilizing the value of the national currency."   Raghad   LINK

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Clare:  Al-Sudani's advisor reassures via Shafaq News about the rise of the dollar: a temporary market bubble

12/26/2024

Mazhar Mohammed Saleh, the financial and economic advisor to Prime Minister Mohammed Shia al-Sudani, commented on Thursday on the rise in the exchange rate of the US dollar against the Iraqi dinar in the local market for days.

Saleh told Shafaq News Agency, "The difference between the two exchange rates in the market is basically stable for reasons related to controlling the sale of cash dollars from legal outlets to travelers in an organized manner and subject to a precise rule of compliance and auditing, in addition to the ability of the traveler to obtain other permitted amounts through payment cards in all their forms, and in sufficient and comfortable amounts at an exchange rate of 1320 dinars per dollar."

He added, "It is expected that the market, due to the end of the previous foreign transfer platform and the transition to new mechanisms for strengthening with foreign currency to meet the banks' needs for foreign currency to finance foreign trade, was accompanied by a wave of misinformation, misunderstanding and confusion that was exploited by the parallel market and speculators for quick profit."

He considered that this increase is "called a temporary market bubble that is built on unrealistic speculation and disappears over time, which requires attention to the phenomenon of exploitation and profiteering generated by false and baseless information."

The dollar exchange rate in local markets is witnessing a gradual increase, while this morning it recorded 152,000 dinars for every 100 dollars in the two main stock exchanges of Al-Kifah and Al-Harithiya in Baghdad, and 151,400 dinars for every 100 dollars in Erbil, the capital of the Kurdistan Region.

Yesterday, Wednesday, the economic and financial expert, Abdul Rahman Al-Mashhadani, attributed the main reason for the rise in the dollar price to the promotion of stopping the platform, indicating that “this rumor that spread showed that foreign transfers would stop.”

He explained that "this rumor is false, as 97% of the transfers made through the window were transferred to banks that have correspondent banks in a way that enhances the balances. The Christmas holiday is also another reason for the demand for the dollar, as there is a lot of travel during these days."

Al-Mashhadani expected that "the situation will stabilize and the dollar will return to its normal status after the holiday."  LINK

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

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
Television saying Iraq is buying huge amounts of gold and it's to offset the ending of the dollar exchange auctions.

Militia Man  Article quote: "Iraq has gotten rid of the burden of foreign debts for the first time which had shackled it economically ...What remains of its debts to international parties constitutes less than $9 billion that will be paid between now and the year 2028."  Iraq's going to have a lot of money.  If you're going to be a creditor, people are going to be coming to you for money and Iraq is going to have a lot of it.  To be fair, I think a lot of us are going to have a few dollar too because of it.

What Must Happen Before the IQD Can Re-Adjust

Edu Matrix:  12-26-2024

What Must Happen Before the IQD Can Re-Adjust Exchange Rate - Discover the complexities behind Iraq's inclusion on the U.S. State Department's Level 4 "Do Not Travel" list in this enlightening video.

We delve into how travel warnings impact foreign investments, currency revaluation, and economic growth in Iraq. With millions of dollars at stake, learn why U.S. private investors remain cautious despite the potential for substantial returns.

Uncover the interconnected dynamics between security, investment, and Iraq's economic future. Our clear American voice guides you through the critical reasons Iraq remains in a holding pattern and how global financial interaction is essential for its growth.

https://www.youtube.com/watch?v=ckmxkyWX3mo

BE CAREFUL! This Is SERIOUS..." The Whole SYSTEM Is COLLAPSING... - Peter Schiff

Economy 101:  12-26-2024

https://www.youtube.com/watch?v=KE6D2lhjZWA

“Coffee With MarkZ” Thursday Morning Chat 12-26-2024

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: GM all- I hope everyone had a blessed and Merry Christmas

Member: Happy Boxing Day everyone and hope you all had your best Xmas.

Member: Sudani said this year ....5 more days…..so I'm excited

Member: He also said new rate by Victory Day which was 12-10-24 sooooooo

Member: What’s the new expected timeline Mark?  Jeff B says Iraq revalued in-country at $7.88?

MZ:  I would love to think that is accurate…..Unfortunately that is not what I am hearing from my Iraqi contacts this morning. They are pretty upbeat though. My contacts still think it could go at any moment and are prepared for it.

Member: Hey mark- any bond contacts getting paid? Wolvie said several platforms were getting paid, can you confirm?

MZ: Reno has not started. But you will probably get a lot of rumors everywhere today. Folks should start getting back into place after the holidays…..we should start getting more info later on. Some may not return to their places until Jan 2nd…but that does not mean it can’t go before then.

Member: What does your “gut” say Mark?

MZ: it says this year is still very much in play.

Member: Mark, any St Germane Trust indicators?

Member: is it possible for Iraq to revalue without all the Countries?

Member: it is possible Imo and may be our only hope for something to happen soon

MZ: Yes its possible….but is it likely?

Member: Don't you think Iraq people are very patient?

Member: I heard this morning that the IQD won’t be able to re-value until Iraq’s level for travel band has been lifted and it’s safe for people to travel to the country and invest in their infrastructure.

MZ: It will happen at the same time-is what I was told ….They revalue and lift the ban at the same time.

​​Member: How can we get reports of Iraq contacts having way more money, contractors being paid, etc yet we still have not seen an RV? This is the most confusing and frustrating thing I have ever experienced

Member: Maybe the new contracts and rates on the contracts don’t start until Jan 1?  That’s a possibility.

MZ: I have an article that reminds me of the article that came out in Kuwait the day they revalued. “ Parliamentary finance settles the matter: the exchange rate will not change.” There are several “Kuwait style” articles that came out overnight and this morning. Most them are about “exchange rates”

Member: What time of day did Kuwait revalue?

MZ: I want to say –maybe 11 AM to 2 pm? ……does anyone know for sure? But it was during  Kuwaits daylight hours. That would be wee hours overnight for us.

MZ: “Sudanese advisor reassures via Shafaq news about the rise of the dollar –the temporary market bubble” They are saying over the holidays there will be a temporary rate increase of the dollar. They are expecting it and have mechanisms for it. And yes they had held auctions the last couple of days.

MZ: “Dollar auctions: What is the fact that the central banks currency conversion platform has been stopped?”  They want us to know there are still auctions but that they are expected to stop in the new year.

Member: Iraqi trade announces the activation of "cooperative markets" early next year

Member: Will banks take currency that's molding?

Member: Mine is covered with dust……..lol

Member: The final stretch, if that's what this is- is tough. Misinformation, disinformation, unsubstantiated claims, a lot of nuts rolled up in the rv community

Member: Dr Shabibi said it would be confusion at the end

Member: I so believe we are in the Process of the Moving Machine unfortunately it is a slow process due to ALL the moving pieces or Countries! Have Patience and Stay in Prayer

Member: I do not think we will see the RV until sometime in January 2025.

Member: Maybe after the inauguration??

Member: Jan 1st is also a possibility?

Member: I know everyone else says it, but I am so ready for this to go!

Member: I hope you had a wonderful Christmas, may your new year bring you prosperous blessings, peace, love, joy and happiness.

Member: "Let's change the world - together." Praying this is a reality very, very soon. Love to all!

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

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

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

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

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=3o3k5KJNhIs

Seeds of Wisdom RV and Economic Updates Thursday Morning 12-26-24

Good Morning Dinar Recaps,

BRICS TO DITCH US DOLLAR FOR GOLD-BACKED CRYPTOCURRENCY

Over the last year, the BRICS bloc’s ongoing de-dollarization efforts have been a focal point. The collective has sought to limit Western hegemony and establish itself on the grander world stage. Amid its ongoing pursuits, could the BRICS bloc be in line to ditch the US dollar for a gold-backed cryptocurrency?

The economic alliance has been stashing gold reserves for much of 2024, with many believing it could be for its own trade currency. Although the bloc has affirmed that it has no interest in a native currency, it has shown a recent embrace of cryptocurrency. Both could converge on a perfect answer for its ongoing greenback dilemma.

BRICS Cryptocurrency? Why Alliance Could Build Combine Gold & Bitcoin to Take Down US Dollar

The last two years have seen the global south continue to champion the term de-dollarization. Indeed, the economic alliance has sought greater ways to limit Western economic dominance. Throughout last year, the emergence of a BRICS currency has been the focal point of that.

Now, that pursuit has taken center stage. With Donald Trump emerging victorious in the 2024 presidential election, he has threatened 100% tariffs on nations abandoning the dollar. Truthfully, that presents BRICS with one true option: double down or abandon the idea.

To this point, they have opted for the former. But it may not stay that way, as BRICS could ditch the US dollar with a gold-backed cryptocurrency. Although the bloc has not yet announced such an idea, its maneuvering does favor its presence.

For the last two years, the bloc has ferociously accumulated gold reserves. That was supposed to be for an alliance trade settlement currency. Moreover, in 2024 they have opted to dial back opposition to the cryptocurrency sector. Earlier this month, Russian President Vladimir Putin said that no one could control Bitcoin.

That appeared to show his favor of the currency. Nations like China have followed suit, with many believing both could soon embrace digital assets. With an AI and technology alliance being formed under BRICS, blockchain technology could soon be at the forefront.

That would not stop the bloc from developing its very own currency that combines both matters. It would illicit some issues with the West but would also fast-track its ongoing de-dollarization plans. Moreover, it would establish BRICS as a clear global force.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

@ Newshounds News™ will be running only one Newsletter input to Dinar Recaps through the New Year.  Visit our Telegram rooms, Website and Youtube Channel for RV related learning material, podcasts. documents, projects, news and more.  Links below! 

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

What Your Bank Isn't Telling You About Using Your Debit Card

What Your Bank Isn't Telling You About Using Your Debit Card

Here's what your bank isn't telling you about using your debit card — and what savvy spenders do instead

Vawn Himmelsbach  Updated May 31, 2024  Moneywise

The use of debit cards has been prevalent in the U.S. for decades, and for good reason. They offer several advantages over other forms of payment, such as cash and checks.

However, they also have a few downsides — and knowing what these are might make you rethink how you're paying (at least in some cases).

Since 2005, the number of debit card transactions in the U.S. has exceeded the number of credit card transactions, according to data from the most recent Federal Reserve Payments Study — and that gap has been steadily increasing.

In 2021, for example, there were 87.8 billion non-prepaid debit card transactions versus 51.1 billion credit card transactions.

But what is your bank neglecting to tell you about debit cards? Here are a few things you need to be wary of.

Pros And Cons Of Debit Cards

Many people prefer the convenience of a debit card, versus carrying around cash. These days, debit cards are accepted at most retailers (while checks are only accepted at a select few), and they’re not subject to surcharges that some merchants charge for using credit cards.

Another advantage is that using debit can help to control spending. You only spend what you have, and you can easily monitor transactions since they appear in your account immediately. This can help to prevent you from racking up debt.

But there are some downsides. Most debit cards have a daily spending limit, which can be an issue if you need to make a large purchase or several small purchases in a day.

Additionally, a debit card will not help you build a credit history, and if you spend more than you have in your account, you could be charged overdraft fees. While many credit cards offer rewards for spending, this isn’t as common for debit cards.

Beware Of Phishing And Skimming

TO READ MORE: LINK

“Tidbits From TNT” Thursday Morning 12-26-2024

TNT:

Tishwash:  Expert diagnoses two reasons behind the rise of the dollar against the dinar in Iraq

The economic and financial expert, Abdul Rahman Al-Mashhadani, attributed, on Wednesday, the reasons for the rise of the dollar against the Iraqi dinar to the rumor of the holidays and New Year's Day.

Al-Mashhadani said in an interview with Shafaq News Agency, "The promotion of stopping the platform is a major reason for the rise in the price of the dollar," indicating that "this rumor that spread showed that foreign transfers will stop."

He explained that "this rumor is false, as 97% of the transfers made through the window were transferred to banks that have correspondent banks in a way that enhances the balances. Also, the Christmas holiday is another reason for the demand for the dollar, as there is a lot of travel during these days."

Al-Mashhadani expected that "the situation will stabilize and the dollar will return to its normal status after the holiday."

The price of the dollar rose gradually in local markets, where it recorded 152,300 dinars for every 100 dollars in the Al-Kifah and Al-Harithiya stock exchanges, and 152,200 dinars for every 100 dollars in Erbil, the capital of the Kurdistan Region.  link

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Tishwash:  Government Advisor: Iraq Seeks to Establish Sovereign Wealth Fund

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq is seeking to establish a sovereign wealth fund.

Saleh told Al Furat News Agency: "Iraq seeks to establish a sovereign wealth fund, especially after the conflicts and wars that have been going on for less than half a century, and the previous regime's major role in wasting the country's resources and wealth, have transformed the surplus in the current account of the balance of payments into a net deficit due to the deterioration of the national economy's export sectors, most notably the oil sector."

Saleh pointed out that "the increase in foreign debts in the past decades was an alternative to establishing a sovereign fund for foreign wealth that relies on surplus oil revenues that can be invested in a diversified investment portfolio whose returns support the state's general budget in general and the investment budget, according to the absorption capacity in particular, similar to countries such as Norway, China, the Gulf countries, and other countries of the world."

Iraq has previous experience in establishing a sovereign wealth fund, through the establishment of the Iraqi Fund for External Development, which was established under Law No. 77 of 1974. However, after that, the work of this fund was limited to managing Iraq’s financial contributions to regional and international organizations and bodies. There was also an attempt to establish two sovereign funds for Iraq in 2018, but they remained without practical implementation.

Countries' economies are divided into three categories based on their source of income: economies with diverse sources of income, economies with a single source of income (“single-basket economies”), and the third category is between them. 

Iraq falls within the second group, as Iraq is considered a rentier state, due to its almost complete dependence on revenues from the sale of crude oil, as oil revenues constitute more than “90 percent” of the total revenues of the general budget, and contribute about “45-60 percent” of the formation of the gross domestic product.  link

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Tishwash:  Parliamentary Finance Committee comments on the fluctuation of the dollar price and threatens to host the Governor of the Central Bank of Iraq

Member of the Parliamentary Finance Committee, Jamal Kocher, described on Wednesday the fluctuation of the dollar exchange rate in the parallel market as "temporary", while he indicated that if the rise continues, we will head to host the governor of the Central Bank of Iraq.

Kocher told Shafak News Agency, "The Parliamentary Finance Committee is closely following up with the Central Bank the dollar exchange rate in the parallel market, and that the rise and fall of the exchange rate is temporary and not fixed."

He added that "if the rise continues during the coming period, there will be another opinion from the House of Representatives," adding that "the Finance Committee, if the rise continues, will head to host the Governor of the Central Bank in the House of Representatives."

The Iraqi market witnessed a significant increase in the exchange rate of the dollar against the Iraqi dinar, as it exceeded 150 thousand dinars for every hundred dollars, despite the government measures taken to control its price in the parallel market.

It is noteworthy that since the beginning of 2023, Washington has intervened to limit the smuggling of dollars from Iraq, which led to its price rising in the local market to a record level of 170,000 dinars per 100 dollars, due to the decline in the Central Bank of Iraq’s sales of dollars, before it declined again and the Central Bank returned to selling dollars at auction.

It is worth noting that currency smuggling is ongoing, despite controls on banks, and is carried out via bags transported overland to Turkey and Iran, after withdrawing dollars from the local market and not through the official dollar selling window. Specialists have called it “black transfers,” and it has become a phenomenon that has not been controlled at the moment.

In addition to the "black transfers", Iraq witnessed other operations to withdraw the dollar at its official price and sell it at the parallel market price, by exploiting the dollar granted to travelers, returning to Iraq and selling it to achieve large profits. The name "sailors" was given to those who do this work, especially some travel and tourism companies.  link

Mot:  ... Dang!! -- Tough Night Hes Having fur Sure!!!

Mot: ......... How Can Ya Tell the age -----duct tape on tree box

Ariel: Iraqi Dinar update, Now this is a Merry Christmas

Ariel:  Iraqi Dinar Update, Now this is a Merry Christmas

Launched today?
No delay?
No postponement?
No July 2025?
But I thought that was what the CBI said?

Majeed:  CBI Governor LAUNCHED Today

 1-Launching strategic projects such as 1-instant payments,

2-local cards,

3- unified payment gateways.

4- Issuing regulations to license digital banks in Iraq.

5-Developing a robust technical infrastructure to support financial inclusion.

6-Enhancing cybersecurity through advanced tools and a dedicated management center.

Iraq News Update

“Now This Is A Merry Christmas”

This is a crazy development here. Totally out of left field but in the most amazing way for Iraqi citizens and the world. I knew something was brewing in the background. This can only mean one thing. Because this will definitely force their hand to act expeditiously in order to quell any potential instability in the market.

The only thing left to do is to pull the trigger anytime before January 1st

I would presume based on what just happened. I just do not see how they can survive without doing so.

When platforms facilitating currency transfers are suspended, liquidity tightens, and rumors about exchange rate fluctuations can spread rapidly. This can lead to panic in the markets as businesses and financial institutions anticipate changes.

A gap between the official exchange rate and black-market rates could widen. This could encourage the growth of parallel markets where currency is exchanged at higher rates, undermining the Central Bank’s control over monetary policy.

The logical next step to prevent destabilization might be for Iraq to introduce the new exchange rate. By doing so, they could:

• Stabilize market confidence.
• Reduce speculation.
• Align market forces with the anticipated economic reforms.

With the auctions suspended and the new year approaching, the window for inaction is small. Iraq may be positioning itself for a currency adjustment or revaluation before January 1st to avoid starting 2025 with uncertainty.

Majeed:  banks going international in Iraq…. CBI is not holding auction anymore It was stopped yesterday ….all of a sudden going to Forex “Economist Ziad Al-Hashemi revealed on Monday that the Central Bank of Iraq was suddenly suspending the operation of the dollar transfer platform before the scheduled date and without an official announcement and without taking into account the interests of Iraqi companies and markets, in a step that is said to be far from professionalism and transparency”

This is what you will be doing.

Currency Conversion = IQD/USD

Brothers Technology inc:  Ariel You’re Absolutely correct, However I have to ADMIT THAT NO AUCTION = Internationalization of Iraqi Banks = International Iraqi Dinar = International Iraqi Stock Exchange merry Christmas has a new meaning and merry Christmas

People allow Iraq to assess the market. They just did something extremely bold ahead of the date they were supposed to do it so something obviously changed behind the scenes that prompted them to jump the gun. I presume corruption and other factors were on their mind.

Iraq’s financial reforms are deeply tied to international politics and negotiations. If the exchange rate affects international contracts, IMF agreements, or regional trade deals, the delay may indicate ongoing negotiations behind the scenes.

So I was not expecting them to do another gutsy move on top of that by reinstating immediately after they just suspended the dollar transfer without any warning which even they called unprofessional for how this was carried out. Obviously someone is ready to get this over with.

Because the auctions were being exploited to siphon dollars out of Iraq, contributing to black-market activity and weakening the dinar. Ending them suddenly prevents further a***e. So this major step by itself sets up Iraq to make another adjustment. Which is the new exchange rate.

So please allow them to monitor their next move with caution as many of you were expecting them to drop another wild maneuver on the markets without a heads up when they have international contracts in place is not a smart thing to do. Which is why they have yet to disclose how much Kurdistan is getting.

This just accelerated de-dollarization and Iraq is pushing to reduce reliance on the U.S. dollar and strengthen the dinar. Halting auctions forces local markets to transition faster to dinar-based transactions. Which is what will give citizens their purchasing power. Not to mention the HCL stipends.

Read:

Majeed:  They promised to pay either on Thursday or Saturday…. Saturday is already out of question Because Forex will be closed, they cannot pay them inside the country with different rate because it will be exposed on the media Thursday today, my time …..They’re coming back to work in 6 hours and 10 minutes from now …..This is their only option to pay Kurdistan with the new rate if they were up to their promise.....plus the auction was stopped as the article said Who’s gonna handle the international transaction today if it wasn’t the banks? Plus the best listing days for currencies, Tuesday, Wednesday Thursday

https://dinarchronicles.com/2024/12/26/ariel-prolotario1-iraqi-dinar-update-now-this-is-a-merry-christmas/

Merry Christmas from The Dinar Recaps Team

All of us at Dinar Recaps would like to wish all our Readers a Very Merry Christmas.

We wish that all your dreams and wishes come true this coming year. 

Due to the holiday, we plan to have new posts off and on both Tuesday and Wednesday.

Please check our  BLOG PAGE  for all new posts. 

On (Tuesday) Christmas Eve, we plan to have 10am and 6pm email Newsletters (no 10pm (ET)

On (Wednesday) Christmas Day we plan to have 11am and 6pm (ET) email Newsletters (no 10pm (ET). 

Have a happy and safe holiday.  The Dinar Recaps Team

Picture from Viktor Hanacek at Picjumbo.com

More News, Rumors and Opinions Wednesday PM 12-25-2024

Gold Telegraph: All Eyes on the Federal Reserve for 2025

Dec 24, 2024

The majority of economists once focused on predicting events with accuracy. Now, their role has shifted to crafting illusions designed to deceive. Imagine doing this for a living?

2025 will be the golden age.

Let’s hope we are entering an era where the Federal Reserve is finally held accountable, enabling a world buried in debt and crushing the economic future of generations to come. New article soon.

ALL EYES ON THE FEDERAL RESERVE FOR 2025?

Elon Musk says the Federal Reserve is overstaffed. Understatement.

For 25 years, they have papered over every crisis with a flood of excessive credit, creating illusions of stability while deepening the cracks.

Get this:

In 2022, the Federal Reserve spent $5 billion on salaries and pensions for 23,000 employees.

This averaged: $217,000 per employee.

Earlier this year, Jerome Powell declared it’s long overdue for an adult conversation on unsustainable fiscal policy.

Ironically, The Federal Reserve fuelled this path by anchoring rates at zero for years. Something has to give?

BREAKING NEWS: THE BIGGEST BANKS ARE PLANNING TO SUE THE FEDERAL RESERVE OVER THE ANNUAL BANK STRESS TESTS

Merry Christmas.

“In July, the groups accused the Fed of being in violation of the Administrative Procedure Act, because it didn’t seek public comment…”

Source: https://www.cnbc.com/amp/2024/12/24/biggest-banks-planning-to-sue-the-federal-reserve-over-annual-stress-tests.html

Japan’s finance minister has issued another warning about excessive foreign exchange fluctuations. He says the country is ready to step in and stabilize the yen. U.S. Treasuries…

Merry Christmas and Happy Holidays everyone.

https://dinarchronicles.com/2024/12/24/gold-telegraph-all-eyes-on-the-federal-reserve-for-2025/

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

KTFA:

Clare:  Expert diagnoses two reasons behind the rise of the dollar against the dinar in Iraq

12/25/2024

The economic and financial expert, Abdul Rahman Al-Mashhadani, attributed, on Wednesday, the reasons for the rise of the dollar against the Iraqi dinar to the rumor of the holidays and New Year's Day.

Al-Mashhadani said in an interview with Shafaq News Agency, "The promotion of stopping the platform is a major reason for the rise in the price of the dollar," indicating that "this rumor that spread showed that foreign transfers will stop."

He explained that "this rumor is false, as 97% of the transfers made through the window were transferred to banks that have correspondent banks in a way that enhances the balances. Also, the Christmas holiday is another reason for the demand for the dollar, as there is a lot of travel during these days."

Al-Mashhadani expected that "the situation will stabilize and the dollar will return to its normal status after the holiday."

The dollar price rose gradually in local markets, recording 152,300 dinars for every 100 dollars in the Al-Kifah and Al-Harithiya stock exchanges, and 152,200 dinars for every 100 dollars in Erbil, the capital of the Kurdistan Region.  LINK

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

Frank26  IMO the lower denominations, the lower notes that will be passed out are now in the [Iraqi] banks, are now in the position ready to be handed over to the citizens...

Frank26   There is a plethora of very good informative monetary reform education articles that are coming out that are causing this great pressure of information, a venturi effect of information to the Iraqi citizens.  This is the time to do that...We say to ourselves, 'Wow! They're telling the citizens they're going to add value to their currency by giving them purchasing power by lifting the three zeros from the exchange rate.  Wow!'...This monetary reform education right now, it's so much of it.  It's cornucopia that is filled.  It's a piñata that got busted open and it's spilling everywhere, every day.

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

'Get the Hell Out of Credit' - Only Gold Survives Coming Collapse: Alasdair Macleod

Commodity Culture: 12-25-2024

Alasdair Macleod believes that interest rates rising signal an impending collapse of the credit market that will wipe out stocks, bonds, and crypto without prejudice, and when that event occurs, only gold in your hand will provide some salvation.

Alasdair hones in on the 10 Year Treasury rate and why it's flashing red, in addition to discussing recent massive deliveries of both gold and silver on the COMEX, why Russia may be headed towards a gold standard, and much more.

00:00 Introduction

 00:40 Interest Rates Hold the Key

 07:22 Danger of Rising Yields on Treasuries

 11:36 Massive COMEX Deliveries

19:41 Huge Gold Demand in Asia

23:33 Is Silver Truly Undervalued?

31:26 Geopolitical Uncertainty

38:54 Canada's Economic Woes

https://www.youtube.com/watch?v=62qq0hZF9Yo

The Collapse of the US Empire

The Collapse of the US Empire

WTFinance:  12-24-2024

In a recent episode of the WTFinance podcast, host John Smith welcomed back the renowned economist and social critic, Professor Richard Wolff.

Known for his compelling critiques of contemporary economic systems and his role as the Founding Director of Democracy at Work, Wolff brought his expertise to the discussion on the economics of 2024 and what the future may hold for the United States and the global economy.

As the world approaches 2024, Wolff highlighted several significant economic trends that could shape the year. One of the key themes was the potential for another “Roaring Twenties,” a term often associated with the economic boom following World War I in the United States.

Wolff noted that while the conditions for such a renaissance might exist, the reality is tempered by internal challenges facing the U.S., such as income inequality, labor unrest, and political polarization.

Wolff discussed the inward-looking nature of the U.S. economy, which has shifted in recent years due to various factors, including geopolitical tensions and a pandemic-driven re-evaluation of global supply chains. He posited that this inward focus could lead to both challenges and opportunities for growth.

A resurgence of domestic manufacturing, for instance, may boost local economies, but it requires a careful balance of investment in technology and workforce development.

Another critical aspect of the conversation revolved around the effects of large-scale migration on the U.S. economy. Wolff emphasized that an influx of immigrants can lead to wage increases across various sectors. The resulting demographic shift could drive demand for goods and services, stimulating economic growth. However, he cautioned that without proper integration policies and support systems, tensions could arise, impacting the overall economic landscape.

As the discussion progressed, Wolff articulated a vision for systemic change to alter the current economic trajectory. He stressed the importance of collective action, both in the workplace and within communities, to challenge the status quo.

 Wolff called for policies that promote cooperative business models, worker ownership, and equitable distribution of resources as means to create a more just economy. By empowering workers and encouraging grassroots movements, he believes society can effectively counteract the dangers of a collapsing economic system.

Perhaps the most impactful message from Wolff’s conversation was the emphasis on collective action as a necessary tool for change. In a world grappling with economic uncertainty and inequality, the notion that individuals can come together to drive systemic reform was a powerful reminder of the potential for social and economic transformation.

Wolff encouraged listeners to engage in conversations about alternative economic structures and to explore new avenues for collaboration and community empowerment.

The WTFinance podcast episode featuring Professor Richard Wolff provided a thought-provoking analysis of the upcoming economic landscape of 2024. From the possibilities of a renewed economic boom to the challenges posed by migration and systemic inequality, Wolff’s insights are invaluable for anyone seeking to understand the complexities of modern economics.

As we move forward into a new year, his call for collective action and systemic reform remains a crucial reminder of the power of community in shaping a more equitable economic future.

https://youtu.be/1NmVbztjAp4

Iraq Economic News and Points to Ponder Wednesday Afternoon 12-25-24

What Are Iraqis Waiting For After News Of The “Sudden Suspension” Of The Dollar Selling Platform By The Central Bank?

 Economy | Yesterday,  Baghdad today – Baghdad   Today, Tuesday (December 24, 2024), the specialist in financial and banking affairs, Alaa Al-Fahd, commented on the impact of stopping the “platform” by the Central Bank on the markets during the next stage.

Al-Fahd said, to “Baghdad Today,” that  “the Central Bank of Iraq worked during the previous period with a plan through

      an auction to sell the currency in the first stage, then

     establishing the electronic platform and

     working intensively to find methods of correspondence between local banks and foreign banks with which we have commercial relations and their results in transfers.”

“For this reason,  the bank announced some time ago that at the end of the current year, the platform will be stopped and there will be direct correspondent banks.” He stated,

 "This is normal.

 All central banks in the world's mission is to maintain monetary policy and not sell the currency.

 There is no central bank in the world that      sells the currency and   mediates in the buying and selling of the currency.

 This work is the jurisdiction and responsibility of the banks and exchange companies.

This matter is correct and it is a major challenge."

 So that the relationships are direct commercial and banking, according to supervision by the Central Bank of Iraq.” He added,

 "Stopping the platform will not affect the local markets regarding the exchange rate of the dollar, but  there are those who are trying to spread rumors that this step will change the exchange rate, so

 selling the same dollar that the Central Bank of Iraq was selling through the platform will be sold to banks and banks that have...

Relations with foreign banks so that the transfer is direct according to electronic transactions and monitoring, and for this reason the situation is under control and there is no fear of the influence of the markets.”

 Yesterday, Monday, the economic expert, Ziad Al-Hashemi, revealed that the  Central Bank of Iraq suddenly stopped the work of the dollar transfer platform, before the specified date, without an official announcement, and without taking into account the interests of Iraqi companies and markets, in a step that, to say the least, is far from professionalism and transparency.

Al-Hashemi said in a post on the social networking site “Facebook,” followed by “Baghdad Today,” that

 “stopping the platform without an official announcement by the Central Bank may indicate that there is uncertainty and fear about the results of stopping the platform on the dollar exchange rates, and

 not announcing it could It gives the Central Bank an opportunity to disavow and evade the decision to stop the platform and return to operating the platform, even temporarily, in the event that the dollar begins to rise to significant rates.”    

https://baghdadtoday.news/264554-ماذا-ينتظر-العراقيون-بعد-انباء-الإيقاف-المفاجئ-لمنصة-بيع-الدولار-من-قبل-البنك-المركزي؟.htm l  

Do Regional Challenges Play A Role In The Continued Rise Of The Dollar In Iraq?
 
December 24, 2024  Baghdad/Iraq Observer   The researcher and specialist in financial and banking affairs, Mustafa Hantoush, confirmed that the 
 
reason behind the continued rise in the exchange rate of the dollar against the Iraqi dinar is the amount of demand for it in the parallel market, while  calling for the necessity of conducting an extensive study to analyze the reasons for this rise.  Hantoush told the Iraq Observer,
 
 “One of the most important reasons behind the continued rise in the exchange rate is the collapse of the Iraqi banking system due to the control of Jordanian and Gulf banks over the dollar, which caused the lack of competition and monopoly of the dollar.”  He added,
 
"Among other reasons is the existence of huge trade with Iran and Syria without an official platform or commercial solutions or even preventing it.
 
It is a continuous trade and without any official restrictions.
 
In addition to the fact that travelers, who number in the millions, to Iran and Syria, they move without the cover of the dollar."

He continued,   “Because there are small merchants, numbering in the thousands, who do not have companies or import licenses, which caused pressure on the parallel market,
 
therefore all of the above were not covered through the currency auction, which led to the continued state of fluctuation in exchange rates.”
 
The person concerned with financial and banking affairs continues to say that
 
“there are fears of wars in the region that push market traders and citizens to exaggerate the quantities imported and purchased, and also push some citizens to save dollars in anticipation of any emergency.”

Today, Tuesday, the exchange rates of the US dollar against the dinar recorded an increase in the local markets in the capital, Baghdad. The Iraq Observer correspondent said that
 
dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 151,200 dinars for every 100 dollars, while yesterday morning, Monday, they recorded 151,000 dinars for every 100 dollars. He added that
 
selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 152,250 dinars, while the purchase price reached 150,250 dinars for every 100 dollars. https://observeriraq.net/هل-للتحديات-الاقليمية-دور-بأستمرار-ار/   

The Central Bank Of Iraq Launches Strategic Projects To Support Digital Transformation
 
December 24, 2024   His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Al-Alaq, announced the  launch of strategic projects to support digital transformation in the country.
 
    His Excellency the Governor affirmed in his speech during the fourth annual international scientific conference, which was entitled
(Digital Financial Services - Challenges of Reality and Foresight of the Future), that
 
“the Central Bank paid great attention to digital transformation as one of its goals within its third strategic plan for the years 2024 to 2026 to enhance work efficiency.” banking, improving financial performance and meeting customer needs in light of rapid technological development.”    His Excellency noted that,
 
“The Central Bank has made great strides to support digital transformation by developing the technical infrastructure and issuing regulations and instructions that contribute to enhancing financial inclusion,” noting that
 
“it has begun launching strategic projects, including the instant payments project, local cards, and unified payment gateways, as well as issuing controls.” To license digital banks in Iraq, taking into account cybersecurity requirements and the risks associated with this transformation.    His Excellency added,
 
"Cybersecurity represents one of the most important challenges facing us today.
 
Therefore, the Central Bank launched projects to enhance cybersecurity by developing the tools and systems of the Cybersecurity Management Center, and  adopting an advanced approach to enhance cybersecurity for the Central Bank and the banking sector."   

His Excellency stressed  "the Central Bank's commitment to continuing its efforts to achieve financial digital transformation and enhance innovation and sustainability in the financial sector."      
 Central Bank of Iraq      Media office      December 24, 2024   https://cbi.iq/news/view/2745   

Positive Indicators For The Third Quarter Of 2024

 December 24, 2024   1. Growth in the volume of cash deposits and credit of operating banks by (4.2%) and (11.6%), respectively:

 Total deposits with banks operating in Iraq recorded a growth of (4.2%) in the third quarter of 2024, reaching a value of (127.6) trillion dinars, compared to their value of (122.4) trillion dinars in the third quarter of 2023. In contrast, the

 cash credit record Granted by public banks grew by (11.6%) in the third quarter of 2024, as its value reached (72.7) trillion dinars, compared to Its value amounts to (65.1) trillion dinars in the third quarter of 2023.

 Positive indicators for the third quarter of 2024 File-173502791644793

https://cbi.iq/static/uploads/up/file-173502791644793.jpg

 2. Growth in the volume of cash deposits and credit to private banks by (14%) and (15.1%), respectively:

 Deposits with private banks operating in Iraq recorded a growth of (14%) in the third quarter of 2024, reaching a value of (18.7) trillion dinars, compared to their value of (16.4) trillion dinars in the third quarter of 2023.

 On the other hand, it achieved Monetary credit granted by private banks grew by (15.1%) in the third quarter of 2024, reaching a value of (12.2) trillion dinars, compared to With a value of (10.6) trillion dinars in the third quarter of 2023.

 It should be noted that these percentages reflect the increased confidence of economic units in private banks operating in Iraq.

 Positive indicators for the third quarter of 2024 File-173502819314514

https://cbi.iq/static/uploads/up/file-173502819314514.jpg

 3. Growth in the volume of deposits and cash credit to the private sector by (3%) and (8.6%), respectively:

Private sector deposits with banks operating in Iraq recorded a growth of (3%) in the third quarter of 2024, reaching a value of (56.1) trillion dinars, compared to their value of (54.4) trillion dinars in the third quarter of 2023. On the other hand, credit achieved...

 Cash granted to the private sector by banks operating in Iraq grew by (8.6%) in the third quarter of 2024, reaching a value of (42.8) trillion. dinars, compared to its value of (39.4) trillion dinars in the third quarter of 2023.

 It should be noted that this increase reflects increased private sector confidence in banks operating in Iraq.

 Positive indicators for the third quarter of 2024 File-173502835431430

https://cbi.iq/static/uploads/up/file-173502835431430.jpg

 4. Growth of the money supply in the narrow sense ( M1 ) by (4.1%), and the money supply in the broad sense ( M2 ) by (3.3%):

The money supply in the narrow sense in Iraq recorded a growth of (4.1%) in the third quarter of 2024, as   its value reached (158.6) trillion dinars, compared to its value of (152.4) trillion dinars in the third quarter of 2023.

 On the other hand, the money supply in the narrow sense recorded Broadband in Iraq grew by (3.3%) in the third quarter of 2024, as its value reached (179.8) trillion dinars, compared to its value of (173.9) trillion dinars in the third quarter of 2023.

 Positive indicators for the third quarter of 2024 File-173502876777164

https://cbi.iq/static/uploads/up/file-173502876777164.jpg

 5. Growth of gold reserves at the Central Bank by (57%):

 Gold reserves at the Central Bank of Iraq recorded a significant growth of (57%) in the third quarter of 2024, reaching a value of (16.8) trillion dinars, compared to its value of (10.7) trillion dinars in the third quarter of 2023.

It should be noted that gold reserves are an important hedge against the risks of falling global oil prices.

Positive indicators for the third quarter of 2024 File-173502907237970

https://cbi.iq/static/uploads/up/file-173502907237970.jpg

6. The annual inflation rate for the months of August and September was (3.7%) and (3.1%), respectively:

 Annual inflation rates in Iraq are among the lowest annual inflation rates in the countries of the region for the months of August and September of 2024, as the rest of the rate is acceptable at (3.7%) and (3.1%), respectively, and  this reflects price stability and the success of monetary policy in Iraq.

 Positive indicators for the third quarter of 2024 File-173502988143405

 https://cbi.iq/static/uploads/up/file-173502988143405.jpg  https://cbi.iq/news/view/2744     

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