News, Rumors and Opinions Friday AM 12-27-2024

KTFA:

Frank26:  "QUESTION: ...DO YOU THINK IRAQ'S INVESTMENT PORTFOLIO IS BASED ON A PROGRAM RATE?".....F26

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

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

Frank26:  "THEY ARE WAITING FOR WHAT WE HAVE TAUGHT... A NEW EXCHANGE RATE."........F26

 What are Iraqis waiting for after the news of the “sudden suspension” of the dollar selling platform by the Central Bank?

12/24/2024  Baghdad

Financial and banking expert Alaa Al-Fahd commented today, Tuesday (December 24, 2024), on the impact of the Central Bank’s suspension of the “platform” on the markets during the next stage.

Al-Fahd told Baghdad Today, “The Central Bank of Iraq worked during the previous period with a plan through a currency auction in the first phase, then establishing the electronic platform and intensive work to find correspondence methods between local banks and foreign banks with which We have commercial relations and their results in external transfers. Therefore, the bank announced some time ago that the platform will be stopped at the end of this year and there will be direct correspondent banks.”

He explained that "this is a natural matter, as all central banks in the world are tasked with maintaining monetary policy, not selling currency. There is no central bank in the world that sells currency and mediates in buying and selling currency. This work is The responsibility and responsibility of banks and exchange companies This is true and is a major challenge until the relations are direct commercial banking under the supervision of the Central Bank of Iraq.

He added, "Stopping the platform will not affect the local markets in terms of the dollar exchange rate, but there are those who are trying to spread rumors that this step will change the exchange rate, as 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 impact on the markets."

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

Al-Hashemi said in a post on the social networking site “Facebook”, which was followed by “Baghdad Today”, that “stopping the platform without an official announcement by the Central Bank may indicate that there is uncertainty and fear of the consequences of stopping the platform on the dollar exchange rates, and the lack of announcement may give the Central Bank an opportunity to evade 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 high rates."   LINK

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

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

Militia Man  They changed the name to currency window as opposed to auction.  That represents foreign currencies. Article quote "...This platform will be stopped at the end of this year." ...The dollar auctions as we know them are going bye-bye by the end of the year...That doesn't mean the 31st...It means...coming at any time.

Mnt Goat    Article:  "THE DOLLAR MARKET IS ON “ONE LEG”.. A ​​NEW MECHANISM AND THE EXCHANGE RATE IS THREATENED!"  ... they are just telling us that there is a process in place to change-out the dinar to the lower denominations and effect the rate as part of this process without causing havoc. A higher, sudden RV, if not done appropriately would cause havoc...

Bank Failures In 2025 "Almost Inevitable" | David Morgan

Liberty and Finance:  12-26-2024

David Morgan discusses the performance of gold and silver in 2024, the implications of inflation, and the influence of political dynamics on market trends.

He emphasizes the importance of precious metals as a hedge against economic uncertainty and explores the future of these investments in light of global economic shifts and potential banking crises.

INTERVIEW TIMELINE:

0:00 Intro

1:35 2024 round-up

6:55 Gold & silver

 15:43 BRICS gold purchases

 24:40 Inflation

29:05 Purchasing metals

https://www.youtube.com/watch?v=md9Bex1N4zM

MilitiaMan & Crew Iraq Dinar News-Iraqs Wealth Fund-National Currency-Arab World Volume Trading-Iraq up 131%-Why?

MilitiaMan & Crew Iraq Dinar News-Iraqs Wealth Fund-National Currency-Arab World Volume Trading-Iraq up 131%-Why?

12-26-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=JOuI3DdGFBE

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

Iraq Establishes 'Investment Portfolio' To Support Stability Of National Currency

Time: 2024/12/26 Read: 1,612 times   {Economic: Al Furat News} 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."  LINK

Parliamentary Finance Committee Settles The Matter: The Dollar Exchange Rate Will Not Change

Money and business  Economy News – Baghdad  The Parliamentary Finance Committee revealed the numbers of employees, retirees and social welfare beneficiaries, confirming that their salaries are fully secured for next year, with no intention to change the dollar exchange rate.

Committee member, Moeen Al-Kazemi, stressed the "need to increase non-oil revenues to ease the burden on the general budget."

Al-Kadhimi stressed that "the government is working to increase revenues from non-oil sources such as taxes, customs, the Communications and Media Commission, and profitable companies in state departments, in addition to collecting water, electricity and other services."

He pointed out that "non-oil revenues could reach 30 trillion dinars in 2025, in addition to 120 trillion dinars of oil revenues, which makes the total revenues sufficient to secure the salaries of 4.2 million employees, and the salaries of 3.5 million retirees," noting that "the allocations for these salaries amounted to 65 trillion dinars in 2024, and it is expected that there will not be a significant increase during the next year."

Al-Kadhimi also explained that "the number of beneficiaries of social care will reach 5 million beneficiaries," stressing "the importance of following a sound financial policy to increase non-oil revenues and ensure financial stability, while maintaining the dollar exchange rate without change." 333 views  Added 12/26/2024 - 3:33 PM  https://economy-news.net/content.php?id=51320

Dollar Exchange Rates Rise In Baghdad Markets On Thursday Morning

Time: 2024/12/26 Read: 1,677 times  {Economic: Al Furat News} The US dollar exchange rate rose this morning, Thursday, in Baghdad markets.    The prices are as follows..

The selling price is 153,000 dinars, while the purchase price is 151,000 dinars per 100 dollars. LINK

The Iraqi Market Trades Shares Worth More Than 6 Billion Dinars In A Week

Stock Exchange  Economy News – Baghdad  The Iraq Stock Exchange announced that it traded shares worth more than 6 billion dinars during four trading sessions until Thursday.

The trading session was not organized yesterday, Wednesday, as it was an official holiday.

According to trading indicators, the number of shares traded during this week amounted to more than 7 billion shares, with a financial value of more than 6 billion dinars.

The ISX60 index closed the first session of the week at (1076.99) points, while the index closed at the end of the week at (1059.19) points, achieving an increase of (1.65%) over its closing at the beginning of the session.

The ISX15 index closed the first session of the week at (1179.37) points, while the index closed at the end of the week at (1159.41) points, achieving an increase of (1.69%) over its closing at the beginning of the session.

During the week, (3033) purchase and sale contracts were executed on the shares of companies listed on the market.

98 views  Added 12/26/2024 - https://economy-news.net/content.php?id=51319

Gold Prices To Rise Significantly... First Predictions In 2025

Economy | 12/25/2024  Mawazine News – Baghdad  American financial expert and investment advisor, Jim Willey, predicted that the year 2025 will witness geopolitical tensions that will lead to a significant rise in gold prices, expecting that an ounce of gold will reach $3,100 in 2025.

Willey wrote in a post on his account on the social networking site “X”, saying: “Gold has been a symbol of wealth and security for centuries, but today it is no longer just a shiny metal, but has become a shield against economic collapses, geopolitical chaos, and reckless financial policies of governments,” noting that there is no need to refer to history books to confirm this fact, which can be seen by simply taking a look at the current reality.

“In the past, a $20 gold coin could buy you a suite at the Plaza Hotel in New York, buy you a high-quality suit, or get you a steak dinner. Today, the same $20 bill can buy three people coffee at Starbucks. Has gold changed? No, gold is still a one-ounce piece of precious metal. What has changed is the purchasing power of paper money, which makes this story one of the most tragic lessons in economic history,” the financial expert explained.

The financial expert touched on the issue of the price of gold in 2025, saying that “historically, every major rise in gold prices has been linked to two main factors: economic instability and geopolitical tensions.

Now, both of these factors are reaching new highs, and no one would be surprised to see gold rise to $3,100 in 2025.”

“Another solid fact about gold is that it thrives in chaos and uncertainty,” Wiley believes. “If world leaders abandon war-mongering and seek lasting peace, gold prices will indeed fall. But let’s be realistic, what about peace? It’s just a nice dream.”

According to Wiley’s predictions, 2025 will see major geopolitical shifts in the world, economic turmoil and financial system disruptions. US economic policies, China’s global strategies and the BRICS experiment with gold-backed currencies will play pivotal roles in shaping gold’s trajectory, and ultimately gold will remain the stable safe haven it has always been.

The financial expert concluded his outlook for the coming year by emphasizing that the future of gold prices is uncertain, but one thing is clear: as long as governments refuse to balance their budgets and continue to engage in geopolitical brinkmanship, gold will not only remain an investment but also a lifeline of stability. Paper currencies will always falter in the face of gold’s enduring resilience, and this is one of the most unchanging truths of humanity. https://www.mawazin.net/Details.aspx?jimare=257892

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

What To Know And Do If You Win The Mega Millions Jackpot

What To Know And Do If You Win The Mega Millions Jackpot

Medora Lee and Amaris Encinas, USA TODAY Updated Thu, December 26, 2024

'Keep it quiet:' Here's what to know and do if you win the Mega Millions jackpot

Whether you bought a ticket yourself or got some as a stocking stuffer, could that $1.15 billion Mega Millions jackpot have your name on it? The odds may be against you − like 1 in 302.6 million − but that doesn't mean you can't prepare.

If there is a winner, Mega Millions jackpot would be the fifth-largest jackpot in Mega Millions history, making the take-home prize a lump-sum payment of an estimated $516.1 million after taxes. How do you even begin to get ready for a windfall like that?

The "smartest thing" you can do, in the event that you do win, is keep calm and carry on, financial advisers shared with USA TODAY back in March. And avoid posting any and all details of your win on social media.

"If you’re lucky enough to win the lottery, keep it quiet," Rob Burnette, an Ohio-based financial adviser at Outlook Financial Center. "Get organized and make a plan. Consider staying anonymous, if it’s a possibility.”

Who, if anyone, do I tell about my Mega Millions win?

If you find yourself in a situation where you stand to inherit millions of dollars, the best people to get in touch with financial experts right off the bat so scammers don't get the chance to bleed you dry before you even get the chance to cash in.

"Crooks usually try to get you to wire money for 'taxes' or 'fees,' or may try to get you to provide them with a bank account number, which they will then clean out," Mega Millions said. "No real lottery tells winners to put up their own money in order to collect a prize they have already won."

No Mega Millions representative would ever call, text, or e-mail anyone about winning a prize so be especially wary of who contact you out of the blue. In certain states, you can remain anonymous if you win.

Steve Azoury, owner of Azoury Financial in Troy, Michigan, who has advised many lottery winners, including a $181 million winner "who said ‘If I didn’t know you before, I don’t want to know you now.’”

"Get a tax attorney and a tax accountant right off the bat and then a financial adviser,” according to Azoury. “They’ll work hand in hand to figure out the plan.”

The "plan" will help you get some things squared away, such as whether you will opt to take an immediate cash payout, or if you'd prefer the cash distributed over time.

The Difference Between The Two Is Outlined Below:

TO READ MORE:  https://www.yahoo.com/finance/news/keep-quiet-heres-know-win-232828281.html

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

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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

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