Coffee with MarkZ, joined by Andy Schectman. 05/07/2025
Coffee with MarkZ, joined by Andy Schectman. 05/07/2025
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning to all you beautiful people!
Member: I saw a post that said a small bank in Georgia or somewhere south has suspended services from Thurs. 8 May to Mon. 12 May saying customers will then be able to access a new digital platform.
Coffee with MarkZ, joined by Andy Schectman. 05/07/2025
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning to all you beautiful people!
Member: I saw a post that said a small bank in Georgia or somewhere south has suspended services from Thurs. 8 May to Mon. 12 May saying customers will then be able to access a new digital platform.
MZ: Lots of banks seem to be getting those messages. Saying the same from the end of April to the end of May. It sure looks like many in the banking world are preparing.
MZ: I am getting many reports from banks that they are learning to process Dinar, Dong and Indonisia Rupiah…..Internal reports saying “ Hey, we are going to be accepting these currencies” . they don’t tell us the rate….just that they are going to be accepting them. This is step number one in my book.
MZ: They train them on these currencies so they are ready for the revaluation…..imo…This is clear evidence we are moving towards completion.
Member: Got a notification from my Bank yesterday with changes coming soon to online banking..
Member: (From Dinar Guru) Mnt Goat We have previously read many articles on the “New Rafidain” bank and the reforms taking place there. The CBI was working to reform the bank to necessary to global standards and digitization. First why would they do this if not working towards a higher rate when going back to FOREX. If they wanted a 1320 rate, they could have already done it over the last two decades...But this is not the case as Ali Al-Alaq has told us many times already he wants the dinar to go back to its “glory days”.
Member: Yes……agreed……I love it
Member: I have a friend who has a sizeable amount of Dinar who told me that if he cashed out and had a NDA he would disappear. I have not been able to get hold of him for 10 days, I don't know why.
Member: I delivered to a 5/3 bank in Brookhaven Ga.,i asked if ready for upcoming currency exchanges, she said yes. I asked “fully trained”, looked toward mgrs.door and said not yet…. body language said different
Member: Holly Ciliano: "Iraq is 0-30 days from full forex readiness"
Member: mark, do you see this going this month at all ?
Member: No way I thought a year ago that we would still be here. I hope this all makes sense at some point
Member: I think we are waiting for audits to be done at the Fed, the Treasury and Ft.Knox…then we go
Member: Supposedly a “earth shattering” announcement about to drop this week from DJT!
MZ: Stay calm and don’t read to much into it……no idea what it will be.
Member: Would love to hear him announce the new gold standard and USN notes.
Member: I think Trumps announcement will be something about taxes…wishful thinking?
Member: His announcement may cause EBS then reset
Member: Maybe he is going to revalue the gold held in the US. Lots of articles saying he might.
Member: Trumps announcement may be something about taxes or Nesara/Gesara. I doubt he will announce currency revaluations as that would skip 4B and go right to the public -right?
MZ: I can see your logic in this…but I am not going to rule out announcing currency changes in the middle east. That would not surprise me. To me- what makes the most sense with the level of negotiations we have seen with the Chinese officials and the US…meetings in Switzerland today and tomorrow- fits with this timing.
MZ: I am guessing we may get an end to the trade war.
Member: Trump said his news was about something we havent discussed in years. It was good news not bad.
Member: What if, Trump is about to announce a peace deal with Iran, and his trip to the Middle East is to have a deal signing in a neutral country…such as Saudi Arabia? It would still be good for us.
Member: Are your bond contacts still MIA?
MZ: They are getting updates on historic assets-and bonds….There are certain historic art pieces that get settled when bonds get settled….and we have been waiting for this for years, and they have suddenly asked for verifications and change of custody. They are supposed to have a meeting via conference calls today..
MZ: I have a number of sources telling me that. So for me, he may have gotten paid and is not saying anything. He refuses to talk about that part so I am excited.
Member: I hope these asset bonds r the last bonds to go!
Member: There are many reports that Iraqis are turning in their dinar for mastercards that go live tomorrow. Have you heard this?
MZ: None of my sources are hearing this. They cannot figure out where that rumor is originating from. .
Member: Hey chat people what do you think will be in 1st basket and 2nd basket? Thanks for your help
Member: This is old but maybe still valid: 1. US 2. UK 3. Kuwait 4. Canada 5. Mexico 6. Russia 7. China 8. Venezuela 9. Iranian Rial 10. IRAQ 11. Indonesia Rupiah 12. Malaysia 13. Vietnamese 14. Brazil 15. Saudi Arabia 16. Qatar 17. United Arab Emirates 18. Turkey 19. Afghanistan possibly20. India 21. Libya 22. Japan23. Zimbabwe
Member: I like that tomorrow is the 8th and a Thursday…..The 8th has always been a big financial date…..and Charlie Ward thought the RV would happen on a Thursday.
Member: Hope we all have a fantastic day! Be blessed everyone.
THANK YOU MARK, ANDY, MODS, AND THE COMMUNITY FAMILY!! SEE YOU TONIGHT AT 7:00 PM EST. FOR ANOTHER GREAT PODCAST!! OR SEE YOU AT 8:00 PM EST. FOR WHISKEY AND WISDOM
Andy Schectman from Miles Franklin joins the stream today. Please listen to the replay for his information and opinions
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 TUESDAY THROUGH THURSDAY EVENINGS FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS! FROM NOW ON NO MORE NIGHTLY PODCASTS ON MONDAYS AND FRIDAYS
News, Rumors and Opinions Wednesday 5-7-2025
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Wed. 7 May 2025
Compiled Wed. 7 May 2025 12:01 am EST by Judy Byington
Global Currency Reset:
Tues. 6 May 2025 A small bank in Alabama has suspended services from Thurs. 8 May to Mon. 12 May saying customers will then be able to access a new digital platform. …Jordan Clark on X
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Wed. 7 May 2025
Compiled Wed. 7 May 2025 12:01 am EST by Judy Byington
Global Currency Reset:
Tues. 6 May 2025 A small bank in Alabama has suspended services from Thurs. 8 May to Mon. 12 May saying customers will then be able to access a new digital platform. …Jordan Clark on X
Tues. 6 May 2025: Trump promises BIG Announcement: https://x.com/ShadowofEzra/status/1919792162268389393
Tues. 6 May 2025 The Big Call Bruce:
A High up source with Wells Fargo said Tier4b (us, the Internet Group) could get 800s sometime between now and Thurs. 8 May 2025 and then immediately begin our appointments.
Another source said something was to occur by tomorrow morning 11 am EST.
A source said that there was going to be a major announcement on Wed. 7 May 2025
On Tues. 6 May 2025 Newsmax reported President Trump saying, “In the next few days there’s going to be an earth shattering announcement that will affect America and it’s people.”
A source said there would be a major announcement on Wed. 7 May “So get ready for Thurs. 8 May 2025” (meaning we could be notified and exchange on Thurs).
Increases in SS payments to go out during May.
Redemption Centers to be open through the end of this month of May.
If you have Zim and were unable to redeem it in May, Wells Fargo will be able to redeem it in June.
If you have Zim and have a project you can still get the Contract Rate on Dinar, but you have to ask for it.
The screen rate is very high on the Dinar.
~~~~~~~~~~~~~~~
Tues. 6 May 2025, A2Z DreamZ:
On Sat. 26 April 2025 Iraq entered into an Article 8 agreement with the IMF, after which they had ten days to fully commit to revaluing the IQD and show the public rate on the Forex.
The banks in Japan and South Korea were closed until Wed. 7 May.
Vietnam has already started their revaluation process on the Dong.
On Mon. 5 May Sudani had a meeting with heads of all banks. The following morning Tues. 6 May at 7 am Baghdad time a text was sent out telling people to bring in their Dinar to the Banks for a higher guaranteed purchasing power rate. This caused traffic jams and lines on the streets to form.
On Tues. 6 May my policeman friend in Baghdad confirmed that the rate that TNT shared was close to what a long time friend shared after he met with his neighbor who went to his bank with a suitcase of Dinar. He came home with a new Mastercard that would be active on the morning of Thurs. 8 May.
Read full post here: https://dinarchronicles.com/2025/05/07/restored-republic-via-a-gcr-update-as-of-may-7-2025/
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 I'm still very encouraged about this year because the new exchange rate can be released at any time. It's just very convenient at the beginning or the end of a quarter...This is the year to release the new exchange rate.
Militia Man The background of the country [Iraq] has had a massive amount of corruption. Spreading rumors through media is notorious. Sadly we have it here in our country as well...It's a reality. You have to take the time to be able to understand what you own and know who those [bad] actors are. This has been a long road...We got into this because we believed in our investment. Revaluations of currencies is a reality.
************
First 100 Days DRP and IQD Rate News
Edu Matrix: 5-6-2025
We discuss the IQD Revalue Rate. In this video, we also break down how Trump’s first 100 days in office are affecting Iraq. From Trump Iraq policy decisions and foreign aid cuts to falling oil prices in Iraq and rumors of an Iraqi dinar revaluation, the ripple effects are clear.
We’ll explain how Trump’s OPEC conflict is straining Iraq’s oil exports and why Iran’s influence in Iraq through the Popular Mobilization Forces has become a key concern.
Whether you’re following U.S.–Iraq relations, tracking the Iraqi economy in 2025, or curious about Trump’s Middle East policy, this is essential viewing
Iraq Economic News And Points To Ponder Wednesday Morning 5-7-25
The National Bank Of Iraq: A Leadership Based On Governance And Transparency
Banks Economy News – Baghdad The National Bank of Iraq (NBI) affirmed on Tuesday its commitment to the principles of governance and transparency as a fundamental rule governing its financial transactions, adhering to strict standards. NBI designated what it described as the "most valuable currency" in this vital sector, while pledging continued compliance with legal and regulatory requirements and international standards.
In a statement received by Al-Eqtisad News, the bank stated, "The National Bank of Iraq's commitment to the principles of governance and transparency is one of its most prominent factors in the Iraqi banking sector.
The National Bank Of Iraq: A Leadership Based On Governance And Transparency
Banks Economy News – Baghdad The National Bank of Iraq (NBI) affirmed on Tuesday its commitment to the principles of governance and transparency as a fundamental rule governing its financial transactions, adhering to strict standards. NBI designated what it described as the "most valuable currency" in this vital sector, while pledging continued compliance with legal and regulatory requirements and international standards.
In a statement received by Al-Eqtisad News, the bank stated, "The National Bank of Iraq's commitment to the principles of governance and transparency is one of its most prominent factors in the Iraqi banking sector.
These principles form the fundamental foundation upon which the bank builds its strong relationships with clients, partners, and various stakeholders, and have contributed to enhancing its credibility in all its financial transactions."
He added, "Over the years of its operation in the Iraqi market, the National Bank of Iraq has proven that it is not just a financial institution, but a strategic partner for its clients and a loyal guardian of their savings and financial future."
He expressed his belief that "trust is the most valuable currency in this vital sector, and this commitment is an integrated approach to work that is embodied in the finest details of its operations and services, and bears fruit in the form of quality and distinction, thereby strengthening its leading position in the market."
He explained that "this commitment is clearly demonstrated by the bank's ongoing efforts to ensure that financial operations are managed in accordance with international best practices, setting strict standards to ensure transparency and accountability in all its transactions.
" He explained that "clear examples of this approach include the bank's ISO 9001:2015 certification in the areas of customer care services and bank transfer operations, confirming that the bank implements an integrated quality management system, with a focus on providing an exceptional banking experience for its customers, based on efficiency, reliability, and attention to the smallest details."
He explained that "the bank's commitment to quality and continuous improvement did not come out of nowhere, but rather is the result of a strategic vision that places the customer at the heart of its concerns. Implementing ISO 9001:2015 standards has had a positive impact on the smoothness of internal operations, contributed to raising efficiency and effectiveness, reducing errors, and lowering operating costs.
Most importantly, it has strengthened the bank's ability to comply with legal and regulatory requirements, and opened up broader horizons for cooperation and partnership with global financial institutions, benefiting from international recognition of its quality and reliability."
He continued, "In the context of this relentless pursuit of excellence, the bank's efforts culminated in receiving the 'Excellence Award' from Citi Bank, in recognition of its superior performance in managing incoming and outgoing financial transfers. This clearly reflects its proficiency in implementing precise and organized procedures that ensure full compliance with international standards in the execution of financial transactions."
He continued, "The National Bank of Iraq's continued focus on the principles of good governance and transparency as an integral part of its long-term strategy is supported by the development of its internal systems and the adoption of the latest technologies in the financial sector to enhance the levels of security, speed, and reliability of its banking services."
The bank reiterated its "commitment to providing innovative banking services that meet the changing needs of its customers and enhance their confidence by offering integrated financial solutions that support individuals and businesses alike, while adhering to global best practices."
The bank affirmed its "goal to be the first choice for all customers seeking trust, reliability, and excellence in banking services." https://economy-news.net/content.php?id=55173
Globally, Oil Prices Rise To Exceed $62 Per Barrel.
economy | 04:32 - 06/05/2025 Mawazine News – Baghdad Oil prices rose Tuesday evening, exceeding $62 a barrel. Brent crude reached $62.05 a barrel by 4:15 Baghdad time, having closed at $60.23 the previous day. US crude reached $59.24 a barrel, having closed at $57.13 the previous day. https://www.mawazin.net/Details.aspx?jimare=261170
Gold Hits Two-Week High On Safe-Haven Demand
Tuesday, May 6, 2025 08:54 | Economic Number of reads: 212 Baghdad/ NINA / Gold prices rose to their highest level in two weeks on Tuesday, as concerns over US tariff plans boosted demand for the safe-haven metal, while investors also awaited the upcoming Federal Reserve meeting.
Spot gold rose 1.4 percent to $3,380.92 an ounce, after hitting its highest level since April 22 earlier in the session.
US gold futures rose 2 percent to $3,389.90.
All eyes will be on the Federal Reserve's interest rate decision and Chairman Jerome Powell's remarks tomorrow for clues on the path of interest rates.
The US Federal Reserve has kept interest rates in a range of 4.25% to 4.50% since last December.
As for other precious metals, silver rose in spot transactions by 1.5% to $32.99 an ounce, platinum rose by 1.3% to $971.24, and palladium rose by 0.5% to $945.75. /End https://ninanews.com/Website/News/Details?key=1225002
Economy | 06/05/2025 Mawazine News - Baghdad - The US dollar exchange rate recorded a new decline in the markets of the capital, Baghdad, with the closing of the stock exchange this evening, Tuesday.
The dollar price decreased with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 143,800 dinars for $100, after it had recorded 144,000 dinars for $100 this morning.
The selling prices in exchange offices in the local markets in Baghdad also decreased, as the selling price reached 144,750 Iraqi dinars for $100, while the buying price reached 142,750 dinars for $100. https://www.mawazin.net/Details.aspx?jimare=261171
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Wednesday Morning 5-7-25
Good Morning Dinar Recaps,
HOW DO TRUMP TARIFFS IMPACT THE FED INTEREST RATE DECISION TODAY?
The Federal Reserve is expected to keep interest rates steady this week, with a 95% chance of no changes, as it adopts a cautious “wait and see” approach.
Despite a slow economy in Q1, inflation remains slightly above the 2% target, while unemployment stays low, giving the Fed more time to assess market conditions. The FED interest rate decision is crucial, as the Trump tariffs and ongoing US-China trade talks could influence future actions.
Good Morning Dinar Recaps,
HOW DO TRUMP TARIFFS IMPACT THE FED INTEREST RATE DECISION TODAY?
The Federal Reserve is expected to keep interest rates steady this week, with a 95% chance of no changes, as it adopts a cautious “wait and see” approach.
Despite a slow economy in Q1, inflation remains slightly above the 2% target, while unemployment stays low, giving the Fed more time to assess market conditions. The FED interest rate decision is crucial, as the Trump tariffs and ongoing US-China trade talks could influence future actions.
Trump Tariffs and Trade Optimism
The latest Trump tariffs and trade discussions between the US and China are bringing renewed optimism to the market. Credit Suisse analyst Ipek Ozkardeskaya notes that improving trade relations could boost risk assets and revive investor confidence in the US dollar. While the dollar didn’t surge during the peak of the tariff war, a shift in sentiment could drive its near-term performance.
FED to Stay in “Wait and See” Mode
The Federal Reserve remains focused on data, with many expecting no immediate rate cuts. As the Fed weighs Trump’s tariffs and a $4 trillion budget plan, it will likely hold off on making any drastic decisions. Although inflation is still above 2%, the FED interest rate decision will depend on the ongoing trade talks and economic trends.
Dollar Could Rebound Amid Trade Optimism
Trade optimism surrounding Trump tariffs and negotiations could potentially lift the dollar, shifting from a safe-haven narrative to broader confidence. Ozkardeskaya believes that this shift could reignite demand for the US dollar, marking a key development as the FED interest rate decision looms.
FED Interest Rate Decision
With little indication of drastic shifts in the economy, Fed Chair Jerome Powell is expected to keep messaging minimal, even as President Trump pushes for rate cuts. Analysts predict that the Fed may only cut rates if the labor market weakens significantly.
@ Newshounds News™
Source: Coinpedia
~~~~~~~~~
ETHEREUM’S ‘PECTRA’ NETWORK UPGRADE GOES LIVE: WHAT TO EXPECT
Ethereum developers have activated the network's Pectra upgrade, bringing smart accounts, higher staking limits and improved scalability through key EIPs.
Ethereum — the network that unleashed smart contracts on the world — moves on to the next chapter with today’s Pectra upgrade, but what does it mean?
Pectra went live on the Ethereum mainnet at the start of epoch 364032, May 7, 2025, at about 10:00 am UTC. The three main Ethereum improvement proposals (EIPs) included are EIP-7702, EIP-7251, and EIP-7691.
EIP-7702 allows externally owned accounts to act as smart contracts and cover gas expenses (transaction fees) and payments in tokens that are not Ether.
EIP-7251 increases the validator staking limit from 32 ETH to 2,048 ETH, simplifying operations for large stakers.
EIP-7691 increases the number of data blobs per block, allowing for better layer-2 scalability and potentially significantly reduced transaction fees.
Sergej Kunz, co-founder of Ethereum DEX aggregator 1inch, said Pectra “introduces ‘smart account’ functionality” at deeper protocol levels and “improves Ethereum’s scalability” through layer-2 solutions.
0xAw, lead developer at Base Ethereum layer-2 DEX Alien.Base, told Cointelegraph that EIP‑7702 is a “potentially great addition for Ethereum.” He said that account abstraction has struggled due to wallet switching requirements.
The positives of adopting this include:
Getting rid of approval flows
Not having to sign each transaction
Segregated permissions and actions
Automations on behalf of the user
“It enables a Web2-like UX by hiding many of the underlying scaffolding from users,” 0xAw added.
Kunz said the update will pave the way for native gasless transactions and simplified user flows.
Ivo Georgiev, CEO of smart wallet Ambire, noted:
“No more infinite ERC-20 approvals”
“Users won’t need native currency like ETH to pay gas fees”
He added:
“Following this, the UX will be reworked completely… wallets give more limited abilities to apps, increasing overall security — for example, no wallet popup every time you interact with OpenSea.”
Still, not without risks.
0xAw cautioned: “Users have one more dangerous thing they could sign, which would be even more damaging than an approval to wallet drainers.”
Mike Tiutin, CTO of PureFi, warned:
“Drainers proved that users will sign ‘harmless’ messages in cloned DApps. EIP-7702 expands that trick from one token to the whole wallet.”
Georgiev remains optimistic, saying:
“Confident there will not be a tangible increase in risk... the industry knows how to create a secure contract, especially with such a minimal scope as an EIP-7702 delegation.”
Easier Institutional Staking
Artemiy Parshakov, VP of institutions at P2P.org, said:
“EIP-7002 makes institutional staking much easier to integrate without taking too much risk.”
Before Pectra:
Stakers needed a signed message from their provider to exit
Couldn’t exit without provider participation
Had to wait ~13 hours to generate exit message
Now with Pectra:
Exit delay reduced to ~13 minutes
Supply Validator Deposits Onchain
EIP-6110 enables the execution-layer block to carry validator deposit data to the consensus layer.
Previously:
Consensus clients waited for Merkle root votes from block proposers
Now:Execution layer directly includes new verifier deposits
This upgrade affects the deep Ethereum consensus layer and follows bugs on Holesky and Sepolia testnets.
Parshakov concluded:
“Our biggest concerns are client bugs, but we trust the Ethereum Foundation and client teams are working to prevent issues on mainnet.”
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
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One Last S&P Rally, then a 50% Crash Like 2008
One Last S&P Rally, then a 50% Crash Like 2008
Wealthion: 5-6-2025
Are we on the precipice of another financial crisis reminiscent of 2008? Chris Vermeulen, Chief Market Strategist at The Technical Traders, believes so.
In a recent interview with James Connor on Wealthion, Vermeulen laid out a compelling, albeit unsettling, case for a significant market correction, potentially a 30-50% plunge in the S&P 500. He argues that we’re in the final stages of a market “exit-liquidity” squeeze, mirroring the infamous stage-four breakdown that preceded the 2008 collapse.
Vermeulen’s warning hinges on several key factors, including the behavior of institutions, collapsing freight volumes, the impact of tariffs, and concerning signals from the oil market. He paints a picture of Wall Street giants actively “dumping” their holdings onto retail investors, utilizing them as the “exit liquidity” needed before the markets take a nosedive.
One Last S&P Rally, then a 50% Crash Like 2008
Wealthion: 5-6-2025
Are we on the precipice of another financial crisis reminiscent of 2008? Chris Vermeulen, Chief Market Strategist at The Technical Traders, believes so.
In a recent interview with James Connor on Wealthion, Vermeulen laid out a compelling, albeit unsettling, case for a significant market correction, potentially a 30-50% plunge in the S&P 500. He argues that we’re in the final stages of a market “exit-liquidity” squeeze, mirroring the infamous stage-four breakdown that preceded the 2008 collapse.
Vermeulen’s warning hinges on several key factors, including the behavior of institutions, collapsing freight volumes, the impact of tariffs, and concerning signals from the oil market. He paints a picture of Wall Street giants actively “dumping” their holdings onto retail investors, utilizing them as the “exit liquidity” needed before the markets take a nosedive.
Vermeulen is closely monitoring specific levels on the charts to identify the moment the market truly breaks down. He anticipates a final push potentially pushing the S&P 500 towards 5,950 before the inevitable crash.
He didn’t specify the exact breakdown level, emphasising focusing on the overall market behaviour and momentum shifts rather than a single number. Identifying these trigger points is crucial for investors looking to protect their portfolios.
According to Vermeulen, the current market dynamics bear striking similarities to the lead-up to the 2008 financial crisis. He points to a characteristic “stage-four breakdown,” where initial optimism and a false sense of security give way to a rapid and devastating market decline. The key is to recognize the signs of this final leg and prepare accordingly.
Vermeulen highlights specific stocks that are showing signs of weakness, including tech giants like Apple and Nvidia, as well as data analytics firm Palantir. These companies, once market darlings, are now flashing sell signals, indicating a potential shift in investor sentiment and a broader market downturn.
Vermeulen’s starkest warning is directed towards retail investors. He believes they are being actively used by institutional investors as “exit liquidity” – the buyers who allow them to offload their holdings before the market crash. This highlights the importance of understanding market cycles and avoiding the trap of buying at the top.
While Vermeulen’s outlook is largely bearish, he does see a silver lining in the precious metals market. He predicts that gold is poised to break towards $3,750 once the market shake-out is complete. He also anticipates a short-term correction in the precious metals market before the upward trend resumes.
This suggests that gold and silver could serve as safe-haven assets during the impending market turmoil.
The collapsing price of oil is another key indicator of an impending recession, according to Vermeulen. The decline in oil prices often reflects a decrease in demand, which in turn signals a slowdown in economic activity. This reinforces the overall bearish outlook for the market.
Interestingly, Vermeulen makes a contrarian call on the U.S. dollar. He believes that the dollar will likely strengthen during the downturn, as investors flock to the perceived safety of the U.S. currency. This is a crucial point for investors to consider, particularly those holding assets denominated in other currencies.
Finally, Vermeulen addresses the potential impact of a market crash on Bitcoin and related companies like MicroStrategy. He suggests that Bitcoin’s price will likely decline if risk assets broadly suffer, and MicroStrategy, with its significant Bitcoin holdings, is particularly vulnerable.
Chris Vermeulen’s analysis paints a concerning picture of the current market landscape. While the potential for a final push towards 5,950 on the S&P 500 exists, he urges investors to be vigilant and prepared for a significant market correction.
By understanding the key indicators, monitoring critical chart levels, and recognizing the role of retail investors as exit liquidity, individuals can take steps to protect their portfolios and potentially capitalize on opportunities that arise during the downturn.
While a 2008 repeat is not guaranteed, Vermeulen’s warnings serve as a crucial reminder of the importance of careful analysis and prudent investment strategies in today’s volatile market.
“Tidbits from TNT” Wednesday Morning 5-7-2025
TNT:
Ivantulafitov: I asked this question in the subject line to grok, and this is what happened. Grok is on x.com if you didn't know.
How will Iraq Dinar go on forex what is the process? What needs to be done
For the Iraqi dinar (IQD) to become internationally tradable and accepted on the foreign exchange (forex) market, a series of economic, regulatory, and technical steps must be undertaken by Iraq’s government, the Central Bank of Iraq (CBI), and international financial institutions. The process is complex, involving both domestic reforms and coordination with global financial systems. Below is an outline of the key steps involved, based on economic principles, current conditions in Iraq, and insights from available information:
TNT:
Ivantulafitov: I asked this question in the subject line to grok, and this is what happened. Grok is on x.com if you didn't know.
How will Iraq Dinar go on forex what is the process? What needs to be done
For the Iraqi dinar (IQD) to become internationally tradable and accepted on the foreign exchange (forex) market, a series of economic, regulatory, and technical steps must be undertaken by Iraq’s government, the Central Bank of Iraq (CBI), and international financial institutions. The process is complex, involving both domestic reforms and coordination with global financial systems. Below is an outline of the key steps involved, based on economic principles, current conditions in Iraq, and insights from available information:
1. Economic Stabilization and Policy Reforms
Stabilize the Economy: Iraq must demonstrate a stable macroeconomic environment, as forex markets favor currencies with predictable value and low volatility. This includes controlling inflation, managing fiscal deficits, and ensuring consistent economic growth, particularly given Iraq’s heavy reliance on oil exports.
Currency Peg or Float Decision: Currently, the IQD is pegged to the U.S. dollar (USD) at a fixed rate set by the CBI, which limits its tradability. To be listed on forex markets, Iraq would likely need to transition to a floating or managed float exchange rate system, allowing market forces to determine the IQD’s value. Lifting the peg requires sufficient foreign exchange reserves and confidence in the dinar’s stability.
Build Foreign Exchange Reserves: The CBI must maintain robust reserves of USD, euros, or other major currencies to support the IQD’s value and intervene in forex markets if needed to stabilize the currency. Iraq’s $120 billion in reserves from oil sales provides a foundation, but these must be managed transparently.
2. Regulatory and Legal Framework
Remove Capital Controls: Iraq currently imposes restrictions on currency exchange and capital flows, particularly for USD transactions, to curb illicit financial activities. For the IQD to be tradable, the CBI must ease these restrictions, allowing free conversion of IQD into other currencies for legitimate transactions, supported by valid documentation.
Compliance with International Standards: The CBI must align with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations set by organizations like the Financial Action Task Force (FATF). This builds trust with global banks and forex brokers, addressing concerns about illicit USD flows to sanctioned countries like Iran.
Bilateral and Multilateral Agreements: Iraq may need to strengthen trade and investment agreements, such as those with the U.S. under the Trade and Investment Framework Agreement (TIFA), to facilitate cross-border currency transactions. Membership in the World Trade Organization (WTO) could also enhance the IQD’s credibility, though no explicit WTO rule mandates revaluation or tradability.
3. Central Bank and Banking System Reforms
Modernize the Banking System: Iraq’s banking sector, dominated by state-owned banks like Rafidain and Rasheed, must adopt international standards for electronic payments, wire transfers, and currency trading. The CBI’s efforts to digitize the financial system and regulate exchange companies are steps in this direction.
Establish Market Infrastructure: The CBI must create mechanisms for banks to engage in spot and forward transactions in IQD, enabling liquidity in forex markets. Currently, banks are restricted from forward transactions for speculative purposes, which limits market development.
Engage International Banks: Major global banks, such as Citi or JP Morgan, could be enlisted to hold IQD reserves or facilitate transactions, as seen in recent deals to strengthen USD reserves for Iraqi banks. This would integrate the IQD into global financial networks.
4. Integration into Forex Markets
ISO 4217 Recognition: The IQD already has an ISO 4217 code, ensuring it is recognized as a standard currency. However, for active trading, forex brokers need assurance of liquidity and demand, which depends on the steps above.
Listing on Forex Platforms: Major forex brokers (e.g., FOREX.com, OANDA) must list IQD pairs (e.g., USD/IQD, EUR/IQD). This requires the CBI to work with brokers to ensure sufficient liquidity and low spreads. Currently, the IQD’s low trading volume and high fees at money exchangers deter brokers.
Market Maker Support: Global banks or market makers must be willing to provide bid-ask quotes for IQD pairs, ensuring continuous trading. This depends on Iraq’s economic credibility and the absence of regulatory risks.
5. Global Acceptance and Confidence
Increase International Trade in IQD: For the IQD to be widely accepted, Iraq must encourage its use in international trade, particularly for non-oil exports. Current efforts to settle trade in euros, Chinese yuan, or Indian rupees indicate a move toward diversification, but the IQD itself must gain traction.
Combat Speculative Scams: The IQD has been subject to scams promising massive revaluation, which damages its reputation. The CBI must clarify the currency’s status and crack down on unlicensed brokers to build investor confidence.
Demonstrate Political Stability: Political instability and security risks in Iraq deter forex traders. Sustained governance improvements and reduced militia influence are critical to signaling a stable environment for currency trading.
6. Technical and Operational Steps
Data Feed Integration: The CBI must provide real-time exchange rate data to financial platforms like Bloomberg or Reuters, enabling traders to monitor IQD rates.
Clearing and Settlement Systems: Iraq must integrate with global clearing systems (e.g., SWIFT) to facilitate IQD transactions. The CBI’s platform for regulating wire transfers is a precursor to this.
Broker and Exchange Outreach: The CBI or Iraqi banks must negotiate with forex exchanges and brokers to include IQD pairs, potentially offering incentives like lower transaction costs initially to boost trading volume.
Challenges and Current Status
Limited Tradability: As of May 2025, the IQD is not widely traded on global forex markets due to its fixed exchange rate, low liquidity, and economic uncertainties. It is primarily exchanged through money changers or select Middle Eastern banks, often with high fees (up to 20–30%).
De-Dollarization Efforts: The CBI’s push to ban USD cash transactions by January 2024 and promote IQD for internal trade aims to strengthen the dinar but complicates international tradability in the short term.
Speculative Claims: Posts on X suggest optimism about the IQD becoming tradable soon, with some claiming it is already on forex platforms or will revalue significantly. These claims lack credible evidence and often stem from speculative or fraudulent narratives.
Timeline and Feasibility
The process could take years, depending on Iraq’s ability to address economic, political, and regulatory challenges. Key milestones include:
Short-term (1–2 years): Easing capital controls, modernizing banking, and increasing IQD use in trade.
Medium-term (3–5 years): Transitioning to a managed float and listing on niche forex platforms.
Long-term (5+ years): Achieving sufficient liquidity for major brokers to offer IQD pairs.
Conclusion
For the Iraqi dinar to be internationally tradable on forex, Iraq must stabilize its economy, reform its banking system, ease currency restrictions, and build global confidence in the IQD. The CBI would need to shift from a fixed peg to a floating exchange rate, integrate with global financial systems, and ensure liquidity through market makers. While progress is being made (e.g., digitization, reserve strengthening), significant hurdles remain, including political instability and low trading volume. Speculative claims about imminent tradability should be approached with skepticism, as the process requires sustained, transparent reforms.
AI: the question is how much of this list is already complete and how much still needs to be completed? If any.
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Tishwash: The President of the Republic to the Governor of the Central Bank: The need to develop a sound future strategy for fiscal policy
President Abdel Latif Jamal Rashid stressed on Wednesday the need to exert efforts and develop a solid future strategy for financial policy.
A statement from his media office, received by Al-Eqtisad News, stated that "the President of the Republic received the Governor of the Central Bank, Ali Al-Alaq, at the Baghdad Palace to discuss the state of the Iraqi banking sector and the measures to develop it, as well as the reform packages being undertaken by the Central Bank to address economic changes and their impact on the local market."
The President of the Republic stressed "the need to exert efforts and develop a sound future strategy for fiscal policy that will enhance the desired economic development."
He pointed out that "the meeting discussed plans to stimulate the investment sector by supporting the private sector, especially as the country is witnessing remarkable stability on the security, political, and social levels."
In turn, Al-Alaq reviewed the Central Bank's efforts and future plans aimed at strengthening fiscal policy and economic stability in the country link
Tishwash: After failing to hold sessions, Parliament announces the end of its legislative session.
The House of Representatives announced on Tuesday evening, May 6, 2025, the end of its legislative session, following the failure to convene sessions for two months.
The Parliament's media department said in a statement received by Al-Jabal, a copy of which said, "Based on Article (57) of the Constitution of the Republic of Iraq - and Article (22) of the internal regulations of the Council of Representatives, the Council Presidency decided to end the first legislative session of the fourth legislative year - the fifth electoral cycle, on Friday, May 9, 2025."
The House of Representatives was scheduled to hold its seventh session of its current legislative term on Monday, May 5, 2025. Another session was also scheduled for Tuesday. However, the House of Representatives failed to convene both sessions, and both times, the session was adjourned due to a lack of quorum.
The Iraqi Parliament failed to hold its regular sessions, having failed to hold its scheduled session on Tuesday, May 6, 2025. Parliamentarians asserted that political leaders were deliberately disrupting the sessions, some of whom disclosed the reasons for this. Calls are mounting for the dismissal of MPs who fail to attend.
Mohsen Al-Mandalawi, First Deputy Speaker of Parliament, announced earlier today that he had "directed the media and parliamentary departments to publish the names of the parliament members who were absent from today's session and to deduct the prescribed financial percentage from their salaries."
Meanwhile, the House of Representatives announced the names of the members present at its failed seventh session, held on Tuesday, May 6, 2025, following the renewed failure to hold it. link
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Mot: The RV Box -- and Why it Wont Move!!
Iraq Economic News And Points To Ponder Tuesday Afternoon 5-6-25
Saleh Ends The Controversy: The 2025 Budget Will Remain Close To 156 Trillion Dinars, With Domestic Borrowing.
Time: 2025/05/06 Read: 2,100 times {Economic: Al Furat News} The Prime Minister's economic advisor, Mazhar Mohammed Salih, announced that Iraq's 2025 budget will remain close to 156 trillion dinars or less, with domestic borrowing continuing at the same level as in 2024.
Saleh explained, in a statement to {Euphrates News}, that: “The average oil price in the first quarter of 2025 reached about $75 per barrel before the impact of the oil asset cycle began to drop prices to $63.
Saleh Ends The Controversy: The 2025 Budget Will Remain Close To 156 Trillion Dinars, With Domestic Borrowing.
Time: 2025/05/06 Read: 2,100 times {Economic: Al Furat News} The Prime Minister's economic advisor, Mazhar Mohammed Salih, announced that Iraq's 2025 budget will remain close to 156 trillion dinars or less, with domestic borrowing continuing at the same level as in 2024.
Saleh explained, in a statement to {Euphrates News}, that: “The average oil price in the first quarter of 2025 reached about $75 per barrel before the impact of the oil asset cycle began to drop prices to $63.
This decline in prices coincided with the cancellation of OPEC+ quotas, in addition to the impact of the US trade war and a temporary contraction in the global economy.”
With the decline in oil prices, Saleh expected that “the relative increase in exported oil quantities will compensate for this decline,” stressing that “operating expenses will be subject to greater control within a flexible financial space, which will provide greater opportunities to manage financial resources prepared for spending.”
Saleh praised “the accelerating success in the field of fiscal and monetary policy,” explaining that “the government seeks to achieve economic stability in both its financial and monetary aspects.”
The advisor concluded by saying that “with this coordination, high guarantees are provided to achieve sustainable economic development, as the world is witnessing rapid progress in Iraq’s economic stability.” LINK
The United Nations And 18 Countries Meet With The Iraqi Banking Sector To Discuss Banking Relations At The Headquarters Of The Association Of Private Banks.
Part of the meeting Banks Economy News – Baghdad Under the auspices of the United Nations Assistance Mission for Iraq (UNAMI), the Iraqi Private Banks Association organized a meeting that included Arab and foreign ambassadors, representatives of international organizations operating in Iraq, and Iraqi banks, with the attendance of the Central Bank of Iraq.
The meeting was attended by the Special Representative of the Secretary-General of the United Nations for Iraq and Head of UNAMI, Mohammed Al-Hassan; the Deputy Governor of the Central Bank of Iraq, Dr. Ammar Hamad; the Regional Director of the World Bank, Jean-Christophe Carré; the Head of the European Union Delegation to Iraq, Thomas Seiler; and the Representative of the United Nations Office on Drugs and Crime, Ali Al-Barir; in addition to the ambassadors of the United Kingdom, Germany, France, Japan, Switzerland, Hungary, the Netherlands, Italy, Greece, Denmark, the Czech Republic, the United States, Saudi Arabia, the Sultanate of Oman, Qatar, Kuwait, and the United Arab Emirates.
In his speech, Al-Hassan emphasized that the meeting precedes the "Arab wedding" represented by the upcoming Arab Summit, and represents the beginning of strengthening communication between the Iraqi banking sector and the international community.
He noted that no country's economy can thrive without a strong banking sector. He also expressed his gratitude to the Iraqi Private Banks Association for organizing the meeting, appreciating the ambassadors' positive interaction.
For his part, Wadih Al-Handhal, Chairman of the Iraqi Private Banks Association, explained that the meeting comes at a crucial moment in Iraq's financial and economic transformation.
It aims to strengthen the banking sector's relations with international and diplomatic partners, creating an integrated banking environment based on transparency and compliance with international standards, capable of supporting sustainable development, stimulating investment, and serving those underserved by banking services.
Al-Handhal added, "We believe that building bridges of trust with the international community begins with constructive dialogue and mutual cooperation. From this perspective, the Iraqi banking sector continues its solid partnerships with your prestigious financial institutions, seeking to open broader horizons for investment and enhance stability and shared prosperity."
He also expressed his sincere thanks and appreciation to Dr. Mohammed Al-Hassan for his significant efforts in mobilizing international support to enhance stability within Iraq, support reform processes, and consolidate the principles of human rights and good governance.
Al-Handhal explained that Iraqi banks look forward to direct dialogue with your countries' banks, under the auspices of the United Nations, to open new partnerships that serve the Iraqi and your economies. This can be achieved by expanding correspondent accounts, financing development projects, promoting digital transformation, issuing green bonds, and attracting promising investments to deepen sustainable stability.
Ali Tariq, Executive Director of the Iraqi Private Banks Association, presented a review of banking developments in the country, explaining that deposits reached 120 trillion dinars, while credit reached 73 trillion dinars. Electronic payments also increased from approximately $1 billion annually to approximately $17 billion by 2024. https://economy-news.net/content.php?id=55194
Head Of The Economists Alliance: The Challenges Facing The Iraqi Economy Are Great...And These Are The Most Important Ones
Tuesday, May 6, 2025 | Economic Number of readings: 87 Baghdad/ NINA / Head of the Iraqi Economic Alliance (Economists), Adi Sadiq Al-Alawi, stressed that his alliance aims to promote sustainable development by activating dialogue between the public and private sectors, providing economic advice to government agencies, and supporting policies that diversify sources of income and reduce dependence on oil.
Al-Alawi told the National Iraqi News Agency ( NINA ) that the Iraqi economy is witnessing gradual improvement today, especially in the agriculture and communications sectors, but the challenges are great. Progress is slow due to fragile infrastructure, administrative corruption, and unstable legislative policies.
He added, "We see positives in the increase in foreign investment, despite our lack of conviction in the fairness of the opportunities provided, and the government's move towards supporting the private sector, despite its scarcity, and regional interconnection projects that may stimulate trade."
He indicated, "Real growth requires restructuring the banking system, implementing investment-attractive legislation, and a greater focus on the knowledge economy."
Al-Alawi pointed out, "Iraqi economists suffer from weak opportunities to implement their research on the ground and a lack of support for innovation, in addition to the migration of talent due to job instability.
He continued, "We seek to address these issues by pushing for the adoption of a competition protection law, establishing a fund to support entrepreneurial projects, and launching scholarships for scholarships in modern economic specializations."
Regarding the establishment of the "Economists" coalition, he explained that it was established in 2018 as a comprehensive platform For Economic Competencies, it was officially registered in 2021 as the first official economic party in Iraq.
Today, it includes more than 6,000 members and affiliates of economic experts, businessmen and women, academics, and specialists in the fields of finance, trade, industry, renewable energy, and the digital economy. / https://ninanews.com/Website/News/Details?Key=1225155
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Tuesday Evening 5-6-25
Good Evening Dinar Recaps,
US TREASURY REPORT ON STABLECOINS MULLS UPSIDE OF OFFERING INTEREST
A presentation last week to the US Treasury’s Borrowing Advisory Committee (TBAC) explored the impact of stablecoins on the demand for short term Treasuries. One topic was mentioned repeatedly – the potential for stablecoins to offer interest.
The last iteration of the Senate’s stablecoin bill, the GENIUS Act, introduced a clause that banned the payment of stablecoin interest before receiving a positive vote by the Senate Banking Committee.
Good Evening Dinar Recaps,
US TREASURY REPORT ON STABLECOINS MULLS UPSIDE OF OFFERING INTEREST
A presentation last week to the US Treasury’s Borrowing Advisory Committee (TBAC) explored the impact of stablecoins on the demand for short term Treasuries. One topic was mentioned repeatedly – the potential for stablecoins to offer interest.
The last iteration of the Senate’s stablecoin bill, the GENIUS Act, introduced a clause that banned the payment of stablecoin interest before receiving a positive vote by the Senate Banking Committee.
According to the minutes of the TBAC meeting, “There was robust discussion concerning the potential implications of interest bearing stablecoins versus non-interest bearing stablecoins, and the extent to which growth in stablecoins would result in net new demand for Treasury securities rather than a reallocation of demand from banks and money market mutual funds.”
The President’s Executive Order on digital assets made clear the intention to promote the use of US dollar stablecoins beyond US borders. White House AI and crypto czar David Sacks was very clear that the goal is to increase demand for US Treasuries,
which helps to lower the cost of servicing the United States’ massive debt.
The TBAC stablecoin report
The TBAC report used a figure from Standard Chartered research that estimates stablecoins will grow to $2 trillion by 2028 assuming stablecoins don’t pay interest. As an aside, Citi also recently published forecasts. The mid-April capitalization of stablecoins was $234 billion, which accounts for approximately $120 billion investment in short-dated Treasuries. Combining that with Standard Chartered’s figure, the report estimates that stablecoin investment in Treasuries will expand to $1 trillion by 2028.
If stablecoins were to offer interest, the figure could be quite a bit higher, although no forecast was provided. That would account for a significant slice of the short term Treasury Bill market, which currently has a $6.4 trillion issuance.
A key reason why most global stablecoin regulation has not supported the payment of interest is due to concerns that bank deposits might shift to stablecoins, potentially reducing available credit from banks or making credit more expensive. The TBAC report states that transactional demand deposits at banks totaling $6.6 trillion are most “at risk” from stablecoins.
However, the presentation also explored opportunities for banks and financial institutions, including issuing stablecoins and managing reserves.
Apart from delving into interest-bearing stablecoins, two other issues were floated:
Allowing stablecoin issuers access to the Federal Reserve
Allowing access to deposit insurance
This would help reduce the impact of de-peg events.
Readers of the TBAC report might expect to see efforts to remove the interest ban from the GENIUS Act. However, after this TBAC meeting, several pro-crypto Democrats withdrew support for the latest version of the GENIUS Act despite it still including the yield ban.
Backtracking on the yield clause could further delay the progress of the stablecoin bill.
@ Newshounds News™
Source: Ledger Insights
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BREAKING: NEW HAMPSHIRE BECOMES FIRST U.S. STATE TO OFFICIALLY HOLD BITCOIN IN STATE RESERVES
In a major first for the United States, New Hampshire has passed a new law allowing the state to hold Bitcoin as part of its financial reserves. The bill, known as HB 302, was signed into law on May 6, 2025, by the state’s Governor. This makes New Hampshire the first state in the nation to create a Strategic Bitcoin Reserve Fund.
The law gives the state’s Treasurer the power to buy Bitcoin and other major digital assets directly or through a regulated investment product like an exchange-traded product (ETP). However, there’s a limit — the state can only hold up to 5% of its total funds in Bitcoin to balance risk.
To ensure safety, the law requires all digital assets to be stored under strict U.S.-regulated custody, either in state-controlled wallets or with approved custodians. The new policy will officially take effect 60 days after its signing.
The bill was inspired by a model created by the nonprofit group Satoshi Action, which works to educate lawmakers about Bitcoin and digital assets. Dennis Porter, the group’s CEO, said this is more than just a bill — it’s the start of a movement. “New Hampshire didn’t just pass a bill; it sparked a movement,” Porter said.
Several important figures helped make this happen, including Rep. Keith Ammon, an early Bitcoin supporter, Majority Leader Jason Osborne, and the New Hampshire Blockchain Council.
This landmark decision could open the door for other U.S. states to follow New Hampshire’s lead as interest in Bitcoin-backed financial reserves grows nationwide.
@ Newshounds News™
Source: Coinpedia
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Atlanta Woman Lost $8K On Scam Call From Fake Wells Fargo Employee — Take These Steps To Keep Your Cash Safe
Atlanta Woman Lost $8K On Scam Call From Fake Wells Fargo Employee — Take These Steps To Keep Your Cash Safe
Christy Bieber Tue, May 6, 2025 Moneywise
Aleah McPherson's bank account is $8,265 lighter these days. Sadly, the funds disappeared after she fell for a scam by someone impersonating a Wells Fargo employee, leaving McPherson and her fiancé devastated by the loss.
"That was my savings. That was actually what I have been working for a while," McPherson told Fox 5 Atlanta last month. She hopes that her story will serve as a warning to others so that they don't fall victim to similar fraud and be left without their hard-earned money.
Atlanta Woman Lost $8K On Scam Call From Fake Wells Fargo Employee — Take These Steps To Keep Your Cash Safe
Christy Bieber Tue, May 6, 2025 Moneywise
Aleah McPherson's bank account is $8,265 lighter these days. Sadly, the funds disappeared after she fell for a scam by someone impersonating a Wells Fargo employee, leaving McPherson and her fiancé devastated by the loss.
"That was my savings. That was actually what I have been working for a while," McPherson told Fox 5 Atlanta last month. She hopes that her story will serve as a warning to others so that they don't fall victim to similar fraud and be left without their hard-earned money.
How a phone scam led to a huge loss
According to McPherson, the trouble started when she received a phone call from a 1-800 number associated with Wells Fargo to alert her to a serious problem. "Wells Fargo bank informed me there was fraudulent activity," she said. "They will call you if there's fraudulent activity on your account, so I didn't think there was anything out of the ordinary. I've had this happen before."
The scammer told McPherson she'd have to transfer her money out of her account to keep it safe while an investigation was carried out. McPherson believed she'd confirmed that she was actually talking to her bank, so she followed their instructions and emptied her bank account, sending the money via Zelle and a Chase digital wallet.
Although she thought moving the funds would protect them while Wells Fargo investigated the fraud, the reality is that the money disappeared into the accounts of the scammers.
Adding insult to injury, she also explained that the scammers mocked her for falling for their tricks. "Once you're done talking to them, they're all laughing in the background. They are telling you that you’ve been scammed and laughing."
Sadly, McPherson is one of many who have fallen victim to scams in which thieves pretend to be trusted organizations, including financial institutions or government agencies. These scams are called phishing or spoofing scams, and the FBI's 2024 Internet Crime Report revealed 193,407 complaints about them during the year, with victims collectively losing over $70 million.
How to protect yourself from this scam
TO READ MORE: https://www.yahoo.com/finance/news/atlanta-woman-lost-8k-scam-120200319.html
Did Buffett Just Admit the Dollar is Doomed? What Comes Next?
Did Buffett Just Admit the Dollar is Doomed? What Comes Next?
Kitco News: 5-5-2025
Warren Buffett’s recent warning about the U.S. dollar “going to hell” has sparked widespread debate about the future of the global financial system.
But while Buffett remains famously averse to Bitcoin and gold, Jack Mallers, CEO of Strike and Twenty One Capital, argues that the Oracle of Omaha’s pessimistic outlook actually validates the need for a decentralized alternative like Bitcoin.
In a recent interview with Kitco News, Mallers asserted that Buffett’s admission signals the end of the post-World War II dollar regime, a system he believes is structurally flawed and nearing its breaking point.
Did Buffett Just Admit the Dollar is Doomed? What Comes Next?
Kitco News: 5-5-2025
Warren Buffett’s recent warning about the U.S. dollar “going to hell” has sparked widespread debate about the future of the global financial system.
But while Buffett remains famously averse to Bitcoin and gold, Jack Mallers, CEO of Strike and Twenty One Capital, argues that the Oracle of Omaha’s pessimistic outlook actually validates the need for a decentralized alternative like Bitcoin.
In a recent interview with Kitco News, Mallers asserted that Buffett’s admission signals the end of the post-World War II dollar regime, a system he believes is structurally flawed and nearing its breaking point.
Mallers, whose company Twenty One Capital is building a “pure-play Bitcoin operating company” with significant backing from Tether and SoftBank, outlined a compelling case for Bitcoin as the solution to the dollar’s inherent problems.
Buffett’s statement, “No system beats currency debasement,” has resonated with investors concerned about inflation and the long-term value of the dollar. However, his refusal to embrace Bitcoin or gold leaves a void in his proposed solution.
Mallers argues that despite gold’s historical role as a safe haven, it ultimately “failed” to solve the reserve problem. He posits that Bitcoin, on the other hand, offers a superior alternative due to its verifiable scarcity, decentralized nature, and programmable properties. He goes even further, claiming Bitcoin is the “most American money ever invented.”
Mallers’ commitment to Bitcoin is evidenced by Twenty One Capital’s ambitious project to build a Bitcoin-focused operating company with over 42,000 BTC. The company is focused on generating Bitcoin-native cash flow, demonstrating a belief in Bitcoin’s long-term economic viability.
Central to Mallers’ argument is the idea that the bond market is “breaking” and the Federal Reserve’s influence is waning. He claims the U.S. is “structurally short” on belief, the very foundation holding the current system together.
Mallers highlights the “hidden bailout of U.S. debt,” orchestrated by Scott Bessent and the Treasury, suggesting a more profound instability than is publicly acknowledged. He points to the rise of “Bitcoin-per-share (BPS)” and “Bitcoin Return Rate (BURR)” as new metrics for evaluating investments, reflecting a growing acceptance of Bitcoin as a legitimate asset class.
He further delves into the complexities of the global economic landscape, citing Trump’s tariff shock and the subsequent sovereign accumulation of gold and cryptocurrency as evidence of a global pivot towards alternative reserves. He identifies a “quiet basis trade crisis” and the U.S.’s reliance on hedge fund leverage as additional vulnerabilities within the existing financial infrastructure.
Mallers proposes a radical yet compelling solution: a U.S. Strategic Bitcoin Reserve. He believes that by embracing Bitcoin, the United States could not only secure its financial future but also solidify its position as a leader in the emerging digital economy.
Ultimately, Mallers’ argument rests on the assertion that a global capital reset is already underway, driving Bitcoin adoption as nations and individuals seek alternatives to a weakening dollar. While Buffett’s hesitancy towards Bitcoin remains, the underlying concerns he raised about the dollar’s future lend significant weight to the growing movement advocating for its adoption. Whether Bitcoin can truly become the solution to the problems plaguing the global financial system remains to be seen, but Mallers’ vision offers a provocative glimpse into a future where digital scarcity reigns supreme.
Tuesday Evening News with MarkZ. 05/06/2025
Tuesday Evening News with MarkZ. 05/06/2025
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good evening one and all.
Member: Did anyone hear Trump say he's gonna make a big announcement before he leaves out of the country this week?
Member: Mike Bara mentioned yesterday that they were expecting some kind of announcement from Trump and today Trump mentioned big announcement coming soon.
Tuesday Evening News with MarkZ. 05/06/2025
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good evening one and all.
Member: Did anyone hear Trump say he's gonna make a big announcement before he leaves out of the country this week?
Member: Mike Bara mentioned yesterday that they were expecting some kind of announcement from Trump and today Trump mentioned big announcement coming soon.
MZ: Today on TV Trump announced he is going to the middle east next week and then says he has a big announcement and will make it Thursday, Friday or Monday before he goes. He said an announcement that will “shake the world”
MZ: Just stay calm….it sure appears we are closing in on it.
MZ: Is it possibly a piece deal with Gaza and Palestine? Or is it a revaluation of the Iraqi Currency? That would fit with some rumors we are hearing out of Iraq.
Member: Maybe closing down the IRS or the Fed……OR maybe a global currency reset??????
Member: Mark, do you know if bond facilitators have been paid?
MZ: I do have an update from a bond contact who would not comment if he was paid for his historic bonds. They did tell me they are expecting an historic asset bonds update tomorrow.…The bonds with the golden gun boxes….. they expect news on final contracts. This could tell us a lot about our timing.
Member: Hope these gold bonds are the last ones
Member: It's been proven that Iraq prime Minister has been meeting with heads of banks. and also the parallel market is moving in our favor now.
MZ: That is absolutely 100% true.
MZ: For this piece we want to give credit to Samson with MM and Crew. “ The United Nations and 18 countries meet with the Iraqi Banking sector to discuss banking relations at the headquarters of the Association of Private Banks” they are focused on safety and moving money internationally. This would be very important if there is a value change in an international currency.
MZ: Many of these countries listed are in the same basket that we have discussed. Iraq is clearly moving to international and quickly!!
MZ: This is a huge article…If you can, take the time to read it. The links are up at the originalmarkz.com
MZ: “Planning discusses with the World Bank the follow up of work progress in a number of development projects in Iraq” this is also breaking today. They are again sitting down with the world bank. The WB says they are doing great work. This is another “feel good” article that shows stability.
MZ: “139 MPs (Ministers of Parliament) attended today’s parliament session and deducted from the salaries of the absentees” Why don’t we do that….lol
MZ: “Ministry of Finance signs two agreements with the French Development Agency in the field of Infrastructure” one of the big projects is sewage….and its coming along. Modernization of the country
Member: Back five years ago Charlie W told us that when it all 'dropped'....it'd go quickly and our heads would spin. Much of what Charlie said back then has come true. Just not quickly!
Member: Happy Days are coming…and a Celebration
Member: Thanks Mark and Mods….see everyone tomorrow AM!!!
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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Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
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