Some “Anecdotes While We Wait “ posted by Mot at TNT

TNT:

Young Guy Mocks Old Man … But His Reply Is Genius

Mot:  Remember to respect your elders!

A 71-year-old man made the trip back to his old college to take one last look around campus again before he settled in to retired life.

As he got to the campus he saw a young man studying hard, and the sight brought back memories. He sat on the bench beside the lad, but was surprised when the kid started spouting off at him.

“You old geezer. Your generation will never understand my generation,” the kid lectured. “You grew up in a different world. In fact, your world is almost primitive compared to mine,” the student said.

“Is that right?” the elder man said.

“The young people of today grew up with television, jet planes, space travel, microwaves. I can carry hundreds of books on a tiny chip in my cell phone. We have nuclear energy, electric and hydrogen cars, computers with light-speed processing, and,” he paused to take swig of beer.

The senior took advantage of the break in the student’s litany and said, “You’re right, son. We didn’t have those things when we were young – so we invented them. Now, what are you doing for the next generation?”

The student fell completely silent and all the people around them cheered!

He really told him!

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

Mot: "Are you absolutely sure it's going to be an extremely cold winter?"

It was autumn, and the residents of a remote Native American reservation were eager to know if the coming winter would be harsh or mild. Their new Chief, unfamiliar with the traditional methods of predicting the weather, couldn't read the sky the way the old chiefs had. Unsure of what to expect, he decided to take precautions. He told the tribe that the winter would likely be cold and advised everyone to gather firewood just in case.

As a practical leader, though, he wanted more certainty. So, after a few days, he decided to take action. He used a phone booth to call the National Weather Service and asked, "Is this winter going to be cold?"

The meteorologist on the other end replied, "Yes, it looks like this winter will be quite cold."

Relieved by this confirmation, the Chief returned to his tribe and ordered them to gather even more firewood.

A week later, he called the National Weather Service again and asked, "Will it be a very cold winter?"

The same answer came: "Yes, it will be a very cold winter."

The Chief went back to his people and instructed them to collect every piece of firewood they could find.

Two weeks later, he called once more. "Are you absolutely sure it's going to be an extremely cold winter?"

"Absolutely," the meteorologist responded. "In fact, it's expected to be one of the coldest winters on record."

The Chief, curious, asked, "How can you be so certain?"

The weatherman replied, "Because the Indians are gathering firewood like there's no tomorrow!"

Mot: . Meanwhile -- over in Florida!!! 

Mot:  . Parenting .........in a nutshell

Mot: A sad thing on getting older -

Evening News with MarkZ, joined by Dr. Scott Young. 12/26/2024

Evening News with MarkZ, joined by Dr. Scott Young. 12/26/2024

MarkZ Disclaimer: Please consider everything on this call as my opinion.  Be sure to consult a professional for any financial decisions

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/

Please listen to the replay for all the details and entire stream….

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

Youtube:     https://www.youtube.com/watch?v=JU9zKfyjqBI

Iraq Economic News and Points to Ponder Thursday Afternoon 12-26-24

How Much Did Iraq’s Internal And External Debt Amount To? An Economic Expert Elaborates
 
Economy  2024-12-25 | Source: Alsumaria News   2,363 views  Economist Nabil Jabbar Al-Tamimi’s chapter on the total Iraqi internal and external debt.

Al-Tamimi said in a statement to Al-Sumaria News, “The total Iraqi and foreign lending institutions external and internal debt amounted to approximately 96 trillion Iraqi dinars, of which 19.5 trillion dinars ($15 billion) are external debts, the majority of which are for the benefit of low-interest international.”

He added,  "The remaining amount is approximately 77 trillion dinars of internal loans, most of which do not require repayment and are approximately 52 dinars for the benefit of the Central Bank, which financed the government in previous times through the issuance of cash through indirect financing methods via treasury transfers.

In other words, approximately 25 trillion dinars are due internal loans." Payment to commercial banks and national bonds, and the remaining 52 trillion dinars to the Central Bank.”
 
Regarding Iraq's most prominent external creditors, Al-Tamimi explained,  "Iraq financing institutions borrows annually from international or foreign financing institutions, including the
 
     German, British, and Japanese funds, and the
     World Bank through the International Finance Corporation and the
     Monetary Fund, as well as the remaining debts for the benefit of the countries in the
     Paris Club and members outside the club associated with the legacy." The system before 2003.”
 
GDP
 
As for the ratio of debts to the Iraqi GDP, Al-Tamimi pointed out that “the  Iraqi is estimated at 250 billion dollars, so the ratio of Iraq’s external debts to the GDP is approximately 6%, which is a low percentage, and the
 
percentage of total debts that must be repaid Excluding the Central Bank’s debts ($55 billion), 22% of GDP remains a reasonable percentage.”
 
As for the most prominent reasons for the accumulation of external and internal debts, he explained that “Iraq’s internal policies external debts are not considered large, and most of these loans were used to finance investment projects.
 
As for internal debts, the reason for their accumulation is due to Iraqi that financed much of the deficit through cash issuance, especially in “The years of war 2014-2016 and the year of the Corona epidemic in 2020.”

Al-Tamimi pointed out that   “there are two types of other debts that were not included in the above calculations:
 
The first is the unofficial debts of the Gulf states linked to financing the Iran-Iraq war in the 1980s, which are estimated at $45 billion.
 
The second is the debts associated with the Iraqi-Chinese agreement, the details of which have not been revealed.” The economic expert concluded:
 
 “External and internal debts do not pose any risks to Iraq, with the exception of loans and debts linked to the Iraqi-Chinese agreement.
 
The amount of interest on those debts or the guarantees provided is not known.”   
 
https://www.alsumaria.tv/news/economy/510765/كم-بلغت-ديون-العراق-الداخلية-والخارجية؟-خبير-اقتصادي-يفصل 

External And Internal Debts Do Not Pose Any Risks To Iraq... Except For One
 
Economy | Today, 23:33 | Baghdad today – Baghdad   The specialist in financial and economic affairs, Nabil Jabbar Al-Tamimi, confirmed today, Wednesday (December 25, 2024), that external and internal debts do not pose any risks to Iraq. Al-Tamimi told "Baghdad Today",
 
"The total external and internal debt of Iraq amounted to approximately 96 trillion Iraqi dinars, of which 19.5 trillion dinars ($15 billion) are external debts,
 
the majority of which are for the benefit of low-interest international and foreign lending institutions, and  the remainder is approximately 77 trillion dinars in loans.

" Internal, most of which do not require payment and are around 52% for the benefit of the Central Bank, which financed the government in previous times through the issuance of cash through indirect financing methods via transfers. "Treasury."  He stated,
 
"In other words, approximately 25 trillion dinars are internal loans payable in favor of commercial banks and national bonds, and
 
the remaining 52 trillion dinars are in favor of the Central Bank."  The specialist in financial and economic affairs added,
 
"External and internal debts do not pose any risks to Iraq, with the exception of loans and debts related to the Iraqi-Chinese agreement.
 
The amount of interest on those debts or the guarantees provided is not known."

Foreign debts constituted a huge burden on Iraq's finances for decades, and  it began paying billions of dollars to a number of countries and organizations around the world as a result of the senseless wars fought by the former regime.
 
Today, under the government of Prime Minister Muhammad Shia al-Sudani,
the country began to breathe a sigh of relief after getting rid of the largest amount of foreign debts.   
 
https://baghdadtoday.news/264654-الديون-الخارجية-والداخلية-لا-تشكل-أي-مخاطر-على-العراق.-باستثناء-واحدة.html   

Economic: Amending Article 12 Affects Basra’s Share Of Petrodollars

December 25 19:34  Information/private..  Economic expert Abdul Rahman Al-Mashhadani confirmed today, Wednesday, that
 
amending Article 12 of the Budget Law related to the costs of producing and exporting the Kurdistan region’s oil affects Basra Governorate’s share of the petrodollar.
 
Al-Mashhadani said in an interview with the “Al-Ma’louma” Agency,
 
“Each oil well in Iraq has different production and transportation costs, and the evidence is in the licensing rounds, where the companies’ profits ranged from one to two dollars per barrel extracted from the southern fields, while the Angolan company profited from the fields.” Qayyarah in Nineveh is $6 for extracting one barrel,” indicating that
 
“estimating the cost of producing oil in the Kurdistan region within the amendment to Article 12 of the Budget Law is subject to By handing over the fields to SOMO Company for calculation estimation.” He added,
 
"There is an objection from the representatives of Basra to this matter, considering that there will be discrimination in the governorate's rights because the share of petrodollars for each barrel will be at its expense," indicating that
 
"it is normal for discussions about this matter to take time, and the delay in approving the general budget for the year 2025 will not affect... Project implementation.
 
It is noteworthy that Parliament has been witnessing an ongoing debate for months about amending Article 12 of the General Budget Law, which relates to the costs of oil production in the fields of the Kurdistan region, while  Erbil seeks to limit the amendment in a way that does not lose control over the oil file in the region.    https://almaalomah.me/news/86388/economy/اقتصادي:-تعديل-المادة-12-يؤثر-على-حصة-البصرة-من-البترودولار   

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

5 Best Savings Tips From Money Experts To Kick Off 2025 Right

5 Best Savings Tips From Money Experts To Kick Off 2025 Right

Chris Adam  Wed, December 25, 2024  GOBankingRates

If you’ve decided to make 2025 the year of savings, there are a few steps to take first whether you are looking to improve your finances, save for a big purchase or plan for retirement.

You’ll find lots of advice and expert tips about the best ways to save and what to do with that money. Here’s a look at some of the best tips we’ve found from five top money experts.

Suze Orman

If you’re looking for financial freedom in 2025, money expert Suze Orman said it starts with a commitment. According to Orman, you need to live below your means, but within your needs.

Orman said this rule is all about how you use the money you have and will have.

“Living below your means is simply choosing not to spend every penny,” she said. “Instead, make it your lifetime goal to spend what is necessary to meet your needs.”

Further, Orman said money isn’t the key to happiness, but overspending can get in the way of it.

Dave Ramsey

As we start a new year, you may be wondering about your savings. Specifically, you may be curious about how much money you should have in savings.

According to financial expert Dave Ramsey, “Eventually, your goal is to have 3-6 months of expenses in a fully funded emergency fund and at least 15% of your gross pay going into retirement savings.”

The idea is that once your savings are ready for bigger emergencies, you can focus on saving for retirement. Ramsey suggested setting a plan with savings goals along the way.

Rachel Cruze

TO READ MORE:  https://www.yahoo.com/finance/news/5-best-savings-tips-money-121508137.html

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

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

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

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

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

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

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

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

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/