Dinar Recaps Blog Page — Dinar Recaps (2024)

Iraq Economic News and Points To Ponder Wednesday Afternoon 6-12-24

The Dollar Continues To Rise In Local Markets

Economy | 10:27 - 12/06/2024 Baghdad - Mawazine News The exchange rates of the dollar against the dinar continued to rise today, Wednesday, on the main stock exchange in the capital, Baghdad.

The price of the dollar on the Al-Kifah and Al-Harithiya stock exchanges recorded 147,250 dinars for every 100 dollars.

While prices in banking shops in local markets in Baghdad also recorded an increase, as the selling price reached 148,250 dinars, while the purchasing price reached 146,250 dinars for every 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=249571

Global Oil Prices Record A New High

Economy | 09:14 - 06/12/2024 Oil prices rose on Wednesday, amid optimistic views on global demand from the US Energy Information Administration and OPEC, supported by industrial data that showed US crude oil inventories falling more than expected last week.

By 0400 GMT, Brent crude futures rose 37 cents, or 0.45 percent, to $82.29 per barrel, while US West Texas Intermediate crude futures rose 46 cents, or 0.6 percent, to $78.36.

The Energy Information Administration raised its forecast for global oil demand growth in 2024 to 1.10 million barrels per day from a previous estimate of 900,000 barrels per day, while the Organization of the Petroleum Exporting Countries (OPEC) maintained its 2024 forecast for relatively strong growth in global oil demand, citing With expectations. For travel and tourism in the second half.

Prices fell more than 2 percent last week after OPEC and its allies said they would phase out production cuts starting in October.

Meanwhile, US crude oil inventories fell by 2.428 million barrels in the week ending June 7, according to market sources citing American Petroleum Institute figures. The decline was larger than expected by analysts polled by Reuters.

The data from the Energy Information Administration, the statistical arm of the US government, is scheduled to be released at 10:30 a.m. EST (1430 GMT) on Wednesday.

Investors are also looking forward to the US CPI report, which will be released before the bell on Wednesday, and the US central bank's policy announcement, scheduled for later the same day. https://www.mawazin.net/Details.aspx?jimare=249564

Iraq Signs An Agreement With "IFC" To Develop The Stock Market

Money and business Economy News – Baghdad On Wednesday, the Securities Commission announced the signing of an agreement with the International Finance Corporation to develop the securities market, indicating that this agreement will bring investments and achieve sustainable development.

The head of the authority, Faisal Al-Haims, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that “the authority signed an agreement to develop the work of the Iraq Stock Exchange after discussions with the International Finance Corporation IFC,” indicating that “the agreement is advisory related to corporate governance and best practices.” Required by companies listed on the Iraq Stock Exchange.

He added, "This contract will be reflected on the Iraqi stock market at the international level, bringing investments and achieving sustainable development according to the plan of Prime Minister Muhammad Shiaa Al-Sudani."

He pointed out that "the project is the first cooperation between the Securities Commission and the International Finance Corporation," stressing that "there are other projects with them in the future."

For her part, Amira Ajaj, responsible for corporate governance and environmental and social standards programs in the Middle East region of the International Finance Corporation, affiliated with the World Bank, expressed her “pleasure with the signing of the agreement in a way that guarantees the authority the use of international expertise from the International Finance Corporation (IFC), affiliated with the World Bank.”

She continued, "The agreement will establish regulatory frameworks for practicing governance for environmental and social standards, which will reflect positively on the listed companies in terms of improved performance and sustainability, and will put Iraq on the path to further development and progress." Views 46 06/12/2024 - https://economy-news.net/content.php?id=44261

Iraq Confirms To The United Nations Fund The Success Of The Experimental Population Census Activities

Money and business Economy News – Baghdad Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, announced today, Wednesday, the success of the pilot census activities in Iraq, while the United Nations Population Fund confirmed its full readiness to provide all types of support to ensure the success of the general population census.

A statement from the Ministry of Planning, received by Al-Iqtisad News, stated that “Deputy Prime Minister - Minister of Planning Muhammad Ali Tamim received the Regional Director of the United Nations Population Fund, Laila Bakri, and her accompanying delegation, which included the Fund’s resident representative in Iraq, Nestor Ohanji, and a number of... Specialists and experts.”

He pointed out, "During the meeting, prospects for joint cooperation between the two sides were discussed, especially with regard to population issues, confronting climate change, and economic diversification."

The statement added, "The Minister reviewed the ongoing preparations and procedures to implement the general population and housing census, which is scheduled to be conducted next November."

The Minister of Planning confirmed, "The success of the pilot census activities, which will end tomorrow, Thursday," praising "the level of support provided by the United Nations Population Fund for the census activities."

For her part, Bakri expressed “the Fund’s readiness to provide all possible types of support to ensure the success of the population census, given the importance of this project in formulating policies and long-term development plans.” 06/12/2024 - https://economy-news.net/content.php?id=44255

Learn About The Central Bank's Sales Of The Dollar

Economy | 02:15 - 06/12/2024 Baghdad - Mawazine News The Central Bank’s sales amounted to more than 280 million dollars today, Wednesday, during the currency auction.

In its auction today, the bank sold 280 million, 112 thousand, and 118 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 256 million, 202 thousand, and 188 dollars, an increase of 91% over cash sales of 23 million, 910 thousand dollars. https://www.mawazin.net/Details.aspx?jimare=249591

To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

Necessity is often the spur to genius. -Honore de Balzac

Necessity is the mother of "taking chances." -Mark Twain

Necessity makes even the timid brave. -Sallust

People wish to be settled; only as far as they are unsettled is there any hope for them. -Ralph Waldo Emerson

Difficulties are meant to rouse, not discourage. The human spirit is to grow strong by conflict. -William Ellery Channing

Adversity causes some men to break, others to break records. -William A. Ward

I think there is this about the great troubles - they teach us the art of cheerfulness; whereas the small ones cultivate the industry of discontent. -Mary Adams

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Robert Kiyosaki Believes ‘Crash Has Begun’ — His 6 Ways To Use It to Your Advantage

Chris Ozarowski Tue, June 11, 2024 GoBankingRates

Robert Kiyosaki, financial influencer best known for his “Rich Dad Poor Dad” franchise, recently posted on X that he believes a significant economic downturn, or “crash,” has started. Such periods, he said, are challenging but present unique opportunities to acquire wealth.

Kiyosaki outlined six strategies to leverage during a crash to increase your chances of getting rich. Here’s what he said and which parts of his advice you can integrate into your own financial strategy.

Wealthy people know the best money secrets. Learn how to copy them.

What’s a Financial Crash?

A financial crash is a rapid and significant decline in asset values across various markets, triggered by economic disturbances, policy shifts or unforeseen global events. Such downturns can lead to widespread economic hardship, affecting employment, savings and investment returns.

In recent years, the global economy has witnessed several significant market crashes. The 2008 financial crisis was triggered by the collapse of the housing market and high-risk mortgage-backed securities, leading to a loss of more than $2 trillion in the global economy. More recently, the 2020 downturn induced by the COVID-19 pandemic saw rapid declines in stock prices and a severe economic slowdown.

Kiyosaki’s 6 Rules for Navigating a Crash

1. Don’t Catch Falling Knives

Kiyosaki advised against impulsive buying during market dips. As stock prices tumble, it’s tempting to try buying a good company’s stock at a discount. Kiyosaki cautioned, “don’t catch falling knives,” which means to wait until asset prices stabilize and avoid purchases during a steep decline to prevent losses.

2. Study

Education is crucial in investment. Kiyosaki stressed the importance of learning from various sources, including YouTube, where he said advice can either be good or questionable. He suggested investors spend time finding credible sources and understanding different perspectives.

3. Networking

Kiyosaki encouraged building relationships with persons with similar financial aspirations and distancing oneself from those who do not take accountability for their financial decisions.

While networking with other people who share your interests may generally be beneficial, it can also lead to echo chambers where new ideas and necessary critiques of financial strategies are not discussed. This should be avoided.

To Read More: https://www.yahoo.com/finance/news/robert-kiyosaki-believes-crash-begun-120134289.html

Wednesday Evening News with MarkZ

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 Wednesday evening to all.

Member: So what do you know today Mark???

MZ: Bond folks are still sitting with bated breath waiting for dollars. It’s been quiet today. But there are wonderful distractions in the news…..

Member: Since bonds have been moving shouldn't CMKM be going now????

Member: Guess we are waiting with bated breath for that as well.

MZ: I did have one bank story ….From a member: “This afternoon I had a good conversation over the phone with a wealth management person regarding the redemption of currencies. I told him what types of currencies I had …Evidently he is heavily involved and travels to various locations. Today he was in Utah …and he goes to Reno frequently. This is a major wealth management company. He is very aware of the revaluation of currencies. He is going to schedule a meeting in Reno along with some wealth managers from their company for people who are exchanging.

Member: I heard a rumor that the PM of Iraq has announced that Iraq has revalued their currency and the rate is over $4.00.

Member: The Parliamentary Finance Committee Wed request budget be redone before publishing in the Gazette. Errors in the numbers. The publication will be postponed until after Eid Holiday.

MZ: I am still hearing the budget tables should be in the Saturday Gazette. We shall see. I heard this right from someone in Iraq today.

MZ: We don’t need that though because Sudani told us that everything is now in the hands of the CBI…..he was talking to Alaq at that time….so it’s the CBI ‘s job to change the rate.

Member: I saw that Iraq has holidays coming up. Would this slow them down releasing the rates?

MZ: Everytime we have looked in the past we saw Kuwait revalued during Ramadan….Iraq revalued in the early 70’s during a holiday. I wouldn’t be too worried about those things.

MZ: “ United Arab Emerits ADMOC resells Iraqi oil in global markets” They are doing the refining of Iraqi oil which means more sales for Iraq. This is another revenue stream for Iraq.

Member: I was sure hoping Saudi Arabia not using the petrodollar would trigger the reset

Member: The petro dollar’s supposed demise is like the plot of a suspense novel—just when you think you’ve figured it out, there’s a new twist that makes you rethink everything!

Member: The petro dollar's demise is like the fall of a financial titan—once powerful, now facing challengers and questioning its relevance in a changing world.

Member: The petro dollar's demise is like a bad soap opera plot twist—everyone saw it coming, yet somehow it still manages to drag on, leaving us wondering if it'll ever truly end

Member: I got a call out of the blue today from my bank pushing savings accounts and wanting me to talk to wealth manager.

​​Member: BREAKING: Massive 'out of control' fire reported at an oil refinery fire near Erbil, Iraq. Multiple people injured –

Membr: Well we have been having the quiet……I am really ready for the “Suddenly” Come on RV..

Member: TY MARK MODS AND FAMILY LOTS OF LOVE TO ALL

AFTER THE NEWS UPDATE WE WILL TAKE A SHORT BREAK AND JOIN MARK BACK AT 8:00 PM EST FOR WHISKEY & WISDOM

CBD Guru’s joined the stream tonight Please listen to the replay for his information.

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

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

​TO GET THE “REAL MARKZ ACCOUNTS”, TWITTER, YT, RUMBLE, TELEGRAM ROOMS, AND FOR MARK’S DAILY LINKS TO HIS WEBSITE: https://theoriginalmarkz.com

STAY IN THE KNOW: FOR UPDATES ON PODCASTS (CHANGES & GUESTS). YOU WILL FIND PLENTY OF USEFUL INFO THAT KOUKLA UPDATES OFTEN FOR MARK AT THE TELEGRAM INTEL CHANNEL: https://t.me/+K_GNVfTI0gFkZWYx

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

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

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

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

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!

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

KTFA

Wednesday Night Conference Call

FRANK26….6-12-24……THE TIME OF THE FLOAT

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163 PIN: 156996

https://www.youtube.com/watch?v=PifO11P0MJ8

KTFA:

Clare: Saudi Arabia's petro-dollar exit: A global finance paradigm shift

10 Jun 2024

The financial world is bracing for a significant upheaval following Saudi Arabia's decision not to renew its 50-year petro-dollar deal with the United States, which expired on Sunday, 9 June, 2024.

The lapsed security agreement - signed by the United States and Saudi Arabia on 8 June 1974 - establishes two joint commissions, one on economic co-operation and the other on Saudi Arabia's military needs, and was said to have heralded an era of increasingly close co-operation between the two countries.

American officials at the time expressed optimism that the deal would motivate Saudi Arabia to ramp up its oil production. They also envisioned it as a blueprint for fostering economic collaboration between Washington and other Arab countries.

The crucial decision to not renew the contract enables Saudi Arabia to sell oil and other goods in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars. Additionally, the potential use of digital currencies like Bitcoin may also be considered.

This latest development signifies a major shift away from the petrodollar system established in 1972, when the US decoupled its currency from gold, and is anticipated to hasten the global shift away from the US dollar.

Cross-border CBDC transactions

In a more recent move, Saudi Arabia has announced its involvement in Project mBridge, a project which explores a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks. It is built on distributed ledger technology (DLT) to enable instant cross-border payments settlements, and foreign-exchange transactions.

The project has more than 26 observing members including the South African Reserve Bank, which was greenlighted as a member this month.

The better known observing members of mBridge are those of the Bank of Israel, Bank of Namibia, Bank of France, Central Bank of Bahrain, Central Bank of Egypt, Central Bank of Jordan, European Central Bank, the International Monetary Fund, the Federal Reserve Bank of New York, the Reserve Bank of Australia, and the World Bank.

In tandem, the project steering committee has created a bespoke governance and legal framework, including a rulebook, tailored to match the platform's unique decentralised nature.

Evolution of Project mBridge

Project mBridge is the result of extensive collaboration starting in 2021 between the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People's Bank of China and the Hong Kong Monetary Authority.

In 2022, a pilot with real-value transactions was conducted. Since then, the mBridge project team has been exploring whether the prototype platform could evolve to become a Minimum Viable Product (MVP) – a stage now reached.

As it enters the MVP stage, Project mBridge is now inviting private-sector firms to propose new solutions and use cases that could help develop the platform and showcase all its potential. LINK

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Clare: The Minister of Communications announces a campaign to turn off towers in preparation for switching to fiber optics

6/11/2024 Baghdad

On Tuesday, Minister of Communications Hiyam Al-Yasiri announced the imminent launch of a campaign to extinguish towers in residential areas in preparation for the transition to the fiber optic system.

Al-Yasiri said in a statement, reported by the official news agency, and seen by Al-Iqtisad News, that “the Ministry intends to implement a campaign to extinguish the towers in coordination with the relevant security authorities, and according to the schedules set for them, after which it will switch to the fiber-optic system.”

She added, "There will be no losses to tower owners or unplanned extinguishing, as the companies operating on FTTH lines have completed their work in dozens of Iraqi regions in preparation for extinguishing those towers, and there is a detailed scheduled plan that will be announced in advance to extinguish the Wi-Fi towers." Fi) and converting it to FTTH service, which will be with the consent of the citizen and not compulsory.”

Al-Yasiri continued, “The prices that FTTH will offer will be lower or equal to the prices of Wi-Fi, despite its high cost, but we bear these costs with the companies in order to provide good service to citizens.” LINK

BuckEyeTree: Iraq continues to transform into the modern era with banking and now fiber optics. With security and stability and safety (banking laws against terrorism and corruption), investors / companies will find a good environment to do business.

If I remember correctly from UB2B, "in the coming days" phrase could potentially mean "anyrime." Praying with the blessings to be realized that this will be in the coming "days" or sooner. Big plans for an improved Iraq and for ministries.

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

Mnt Goat If you step outside of Iraq, when they finally do reinstate the dinar, the exchange of the three zero notes...will exchange to whatever the currency exchanges i.e. FOREX rate is at the time.

Frank26 [Iraq boots-on-the-ground report] FIREFLY: Parliament is saying we're going to pass the investment law. You're going to see it very soon...

UPDATE: Iraq's Expected Growth by the End of 2024/2025 (MENA)

Nadeer: 6-12-2024

https://www.youtube.com/watch?v=1VqgUGVdwos

BREAKING: BRICS Says 59 Nations Plan to Join, New Financial System, Dedollarization Priorities

Lrena Petrova: 6-12-2024

https://www.youtube.com/watch?v=v09dM3sCPeE

Goldilocks' Comments and Global Economic News Wednesday Afternoon 6-12-24

Good evening Dinar Recaps,

BRICS: BRICS calls for enhanced use of local currencies in trade between member countries -The Economic Times

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Joint Statement of the BRICS Ministers of Foreign Affairs/International Relations, Nizhny Novgorod, Russian Federation, 10 June 2024 - The Ministry of Foreign Affairs of the Russian Federation |Ministry of ForeignAffairs

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How will Europe's elections impact digital euro legislation? -Ledger Insights - blockchain for enterprise

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Russia intends to perform its first cross-border payments using thedigital rublein the second half of 2025. Central bank digital currency (CBDC) transactions with China or Belarus are on the cards. That’s according to Anatoly Aksakov, who chairs the Financial Markets Committee of Russia’s State Duma. |LedgerInsights

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Panel perspectives: Navigating the new waves of supply chain finance |TradeFinanceGlobal

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Project Cedar, Explained (Wholesale Central Bank Digital Currency Prototype).How the 7 trillion dollar a day Forex Market will move its money. |Youtube

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We are moving from a World Reserve Asset transaction to Central Bank Digital Ledger Technological (blockchain) transactions.

© Goldilocks

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🚨BREAKING: BRICS Says 59 Nations Plan to Join, New Financial System, Dedollarization Priorities |Youtube

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A Distributed Systems Reading List |Ferd CA

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Putin Says BRICS Developing Independent Payment System Free From Political Pressure –Featured Bitcoin News

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Ripple Completes Acquisition of Standard Custody & Trust Company –News Bytes Bitcoin News

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Saudi Arabia's petro-dollar exit: A global finance paradigm shift | The Business Standard

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Russia’s Moscow Exchange to stop trading in dollars after latest US sanctions |ARA TV

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FOMC Press Conference June 12, 2024 |Youtube

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Thank youDinar Recaps

Bruce’s Big Call Dinar Intel Tuesday Night 6-11-24

Transcribed By WiserNow Emailed To Recaps

Welcome everybody to the big call tonight. It's Tuesday, June 11th and you're listening to the big call. Thanks, everybody. I’d like to welcome everybody to the big call from wherever you're located. And of course, like to thank the SAT team for keeping up with and monitoring using the Starlink satellite system monitoring our listeners, which at last count we thought were about 25 million. That was in close to 200 or so countries -

So let’s see what the numbers are coming out today - the main thing is we're welcoming everybody to the big call - Glad you guys could make it - and I'm excited about fact that we're getting out, reaching a lot of people and trying to do the best we can by putting our information to them

So Bob what's our time hack, Bob? It's 10:05, . Okay, good 10:05. Let’s do this - intel segment is relatively short tonight, things are very quiet and have been for days, and realize we haven't had a call since Thursday night, so that's five days ago, but I can tell you, we have two sources saying that we expect notifications either - Well, it was either today or tomorrow, they haven't come in today.

That puts tomorrow in position right now. And the other piece that we got was from a bond - well banker who's got connections to the bondholders and the bond pay masters - He said bondholders should be receiving their emails tomorrow.

Well, typically, if the bondholders get their emails tomorrow, we should get our emails tomorrow as well. That is theory of the shotgun start. They could be a little bit ahead of us, but overall, I don't believe that's going to be the case. I think they're right there. I think this thing is very close to coming out.

They really don’t want us to know when it's going to come out. But if bondholders get notified tomorrow, we should also get notified tomorrow, and then all we do is set appointments and start our exchanges tomorrow or Thursday.

So not a whole lot of Intel. I know that everybody's curious as to when our start is, obviously, I'm curious about it as well, but when things tend to be this quiet, this quiet out there, usually we could say it's it's ready to go, being quiet for a reason, and we can take advantage of that. It's not much, but we don't need a whole lot we just need a start, and I think this is what we are looking at

Obviously we're very close. Hopefully this thing we get notified tomorrow, we'll see what that looks like, and everything's just moving behind the scenes - . So I can tell you that the so called pickup is going gangbusters right now - There's a lot happening behind the scenes – to remove people basically been in the way of this for a long time – they are getting picked up right and left now.

So without detail on that, I feel like you're getting what you need to get right now. Obviously we're looking forward to this going so thank you guys for listening tonight. I appreciate it. And before we turn off the recording, let's go ahead and start and pray ourselves out. Okay? Good.

Bruce’s Big Call Dinar Intel Tuesday Night 6-11-24 REPLAY LINK Intel Begins 1:02:50

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHKS4

Bruce’s Big Call Dinar Intel Thursday Night 6-6-24REPLAY LINK Intel Begins 50:20

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Bruce’s Big Call Dinar Intel Tuesday Night 6-4-24 REPLAY LINK Intel Begins 56:00

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Bruce’s Big Call Dinar Intel Thursday Night 5-30-24 REPLAY LINK Intel Begins 1:04:40

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Bruce’s Big Call Dinar Intel Tuesday Night 5-28-24REPLAY LINK Intel Begins 1:08:00

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Bruce’s Big Call Dinar Intel Thursday Night 5-16-24 REPLAY LINK Intel Begins 1:09:09

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Bruce’s Big Call Dinar Intel Tuesday Night 5-21-24REPLAY LINK Intel Begins 1:05:15

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Bruce’s Big Call Dinar Intel Thursday Night 5-16-24 REPLAY LINK Intel Begins 1:13:23

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Bruce’s Big Call Dinar Intel Tuesday Night 5-14-24 REPLAY LINK Intel Begins 1:10:00

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Bruce’s Big Call Dinar Intel Thursday Night 5-9-24 REPLAY LINK Intel Begins 51:51

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Bruce’s Big Call Dinar Intel Tuesday Night 5-7-24 REPLAY LINK Intel Begins 1:05:15

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America is in “A Bad Place”; Gold Can Restore Its Prosperity Says Trump Fed Nominee

Daniella Cambone: 6-12-2024

“You can't have sound money without sound finances,” says Judy Shelton, monetary economist, author of “Money Meltdown,” and former economic advisor to Donald Trump.

In an exclusive interview with Daniela Cambone, Shelton explains the rationale behind a gold standard argument, detailing how issuing a gold-backed bond may be the pathway to it.

“I don't know how people talk about free trade without addressing currency gyrations and how they impact trade,” she says.

Additionally, she warns that the fate of the U.S. may be similar to what happened to the Soviet Union with insurmountable debt. “Is the US still going to be here in 50 years? At the rate of the unsustainability in terms of the fiscal and monetary situation that you opened with, I don't see how.”

Tune in for this insightful discussion on the future of the U.S. economy and the potential return to a gold standard.

CHAPTERS:

00:00 US debt cliff

3:20 Money should work for the people

6:06 Gold standard

14:03 Argument against returning to gold standard

17:26 Donald Trump

26:54 Inflation and current economy

29:59 Central banks accumulating gold

39:15 BRICS

46:48 Concluding words

https://www.youtube.com/watch?v=o-hX5D4bAZo

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

Coffee with MarkZ and Andy Schectman. 06/12/2024

​​Member: Good morning MarkZ let the good times roll.

Member: Great day for an RV!..... RV there yet???

Member: Is it time to light the grill for the long awaited McRV Burger?

Member: Wolverine says 800 numbers today?

MZ: The chatter has been phenomenal.

MZ: I have not yet been able to track any bond payments in Zurich yet, but I do have quite a few that are expecting funds this week of at least 1% of their historic bonds.

MZ: WE are starting to see the beginnings of money movement in Reno. I have contacts in Florida and New York and am starting to see action. We are getting reports from many people in Brazil (not just me) …Nothing yet from Asia.

MZ: Waiting for more updates from Reno today…They are 3 hours behind and still asleep. .

MZ: There is news from Zimbabwe: “Mnangagwa is confident of the stability of ZIG currency” This is the nitty gritty of how the new currency is doing . This story comes from St. Petersburg, Russia because of the BRICS meeting there. The St. Petersburg economic forum. The ZIG is a gold backed currency that is gaining on the dollar and has whipped inflation. So right now He is on the international stage telling the world what they did to curb inflation. And all the world leaders are listening.

MZ: Denmark and other countries around the world are calling for gold backing as well

MZ: “BRICS calls for enhanced use of local currencies in trade between member countries” BRICS is calling for them to use their own currencies and fro de-dollarization. This ties in what is going on in Saudi Arabia now that they no longer have to use the PetroDollar.

MZ: BRICS is about to get larger. 42 countries have already applied or are already in BRICS. Slowly, slowly , suddenly.

Member: Really hoping we still see the RV this month or at least by July 4th!

Member: I’m good with July 4th … we need independence! Yay

Member Praying that Nesara/Gesara is real and will happen for the world very soon.

Andy Schectman from Miles Franklin joins the stream today. Please listen to the replay for his opinion and information.

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TNT:

Tishwash: Kuwait connects its “Fiber” network to Iraq

Tishwash: Iraqis resort to “gold bullion” instead of money, and the banking system is dying

Today, Wednesday (June 12, 2024), financial affairs expert Mustafa Hantoush revealed the reason why Iraqis are resorting to purchasing gold bullion in abundance during the current period.

Hantoush said in an interview with "Baghdad Today" that "recently, the demand for buying gold bullion has increased significantly by citizens, especially those with large sums of money. They have begun to save that money through these bullion instead of depositing their money in banks."

He stated that "the reason why citizens resort to buying gold bullion to save their money is as a result of the weakness of the banking system, lack of confidence in this system, and fear for their money due to American sanctions. This is why we see the majority of Iraqis turning towards gold bullion, especially in light of the high prices of the yellow metal and the stability of this price and its lack of fluctuation like the dollar." .

From mid-December 2022 until now, the Iraqi dinar has continued to fall against the US dollar, until it reached the level of 1,610 dinars against one dollar at a time when the official price of the dollar is 1,300 dinars.

With the decline of the national currency and the rise in poverty and unemployment rates, Iraqi gold markets recorded a large demand from customers to buy the yellow metal amid warnings against buying counterfeit ones.

According to data from the specialized website “Bloomberg”,Iraq bought 33.9 tons of gold in the year 2022, while the Turkish Consul General in Erbil Hakan Karaçay revealed that Iraq imported Turkish gold worth $1.5 billion during the year 2021.

Iraq's gold reserves witnessed a noticeable increase during the month of February 2024, as International Monetary Fund data showed that Iraq had increased its possession of the precious metal by 3,079 tons, bringing the total to 145,661 tons.

This increase indicates Iraq's continued strategy to diversify its foreign reserves and enhance financial and monetary stability in the long term.

This step by Iraq comes at a time when the world is witnessing a rise in gold prices, as the price reached its highest level in its history last month above $2,400 per ounce.

Many simultaneous factors are strengthening the record levels of gold, especially in light of the escalation of geopolitical tensions around the world, and in light of the state of “uncertainty” surrounding the global economy, which supports the trend towards the precious metal as a traditional safe haven in the face of market fluctuations and dire scenarios that impose themselves on the market. the scene.

Iraq is among the countries that possess large amounts of gold reserves in the Arab region, as it ranks fourth after the Kingdom of Saudi Arabia, Algeria, and Morocco link

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Tishwash: Beijing: Iraq is the third largest Arab trading partner with China

Today, Wednesday, the representative of the Chinese Embassy, ​​the Commercial Counselor of the People's Republic of China in Iraq, Xu Chun, revealed cooperation between the Ministry of Higher Education and Huawei to build the Information Technology Academy, while noting that Iraq is China's third largest trading partner among Arab countries.

During the conference on smart education, in cooperation with Huawei Technology, and attended by the Iraqi News Agency (INA) correspondent, Chun expressed his "happiness to attend the smart education event organized by the Ministry of Higher Education and Scientific Research in Iraq in cooperation with Huawei."

He added, "With the continuous development of information technology and its in-depth application, the demand for digital transformation in Iraq has increased. Since the end of last year, the Iraqi government has given great importance to accelerating the digital transformation process, and there have been a series of developments in the field of electronic passports and other government services."

He continued, "We are pleased to see cooperation between Huawei, the Ministry of Higher Education and Scientific Research, and local universities to build the ICT Academy, which aims to provide online lessons, provide a global exchange and competition platform for teachers and students, encourage students to obtain Huawei's professional and technical certificate, and develop talents." Innovation and technology applied to society and the ICT industry chain.”

He explained, "President of the People's Republic of China, Xi Jinping, stressed in his speech during the opening session of the tenth session of the ministerial meeting of the China-Arab Cooperation Forum, deepening cooperation, following up on the work of the past, paving the way for the future, and accelerating the pace of building the Chinese-Arab community for a common future."

He continued, "The digital age represents the key to accelerating the improvement of the digital infrastructure on a large scale, enhancing the infrastructure of networks, computing and applications in a coordinated manner and linking them with data for continuous economic and social development," expressing his "aspiration for more cooperation with Chinese companies." "To exchange experiences and cooperate with the Iraqi government and companies and actively participate in the digital transformation process in Iraq, in order to continue to advance the strategic partnership relations between China and Iraq to a higher level."

For his part, CEO of Huawei Iraq, William Yang, said: “We are keen to employ our global capabilities and expertise to develop and hone the skills of local talent and provide a full range of education digitization solutions designed for Iraq.”

He continued, "The partnership with the Ministry of Higher Education will provide Iraqi students with access to the latest technologies and recognized certificates in this field, instilling and strengthening a culture of innovation and entrepreneurship, as well as promoting the establishment of an effective smart campus by strengthening the basic education network and simplifying cloud platforms." And implementing smart classroom applications.

He added, "Given our confidence in the excellence of Iraqi talent at the regional and global levels, we are convinced that this cooperation will have a positive and sustainable transformative impact on the information and communications technology sector in Iraq, leading to bridging the digital gap, creating more job opportunities, and driving economic and social growth in Iraq." "The country."

He pointed out that “the Huawei ICT Competition, which is held annually, focuses on developing scientific and technological talent by highlighting realistic practices and needs in the technology sector, as well as urging participants to design innovative solutions that contribute to creating social and commercial value using modern technologies.”

The “Seeds for the Future” program also provides young talents with training courses and participation in international competitions that enhance the presence of intercultural exchange and the transfer of knowledge and experiences,” pointing out that “the programs include activities for graduates that focus on adopting the use of digital technology, in a way that enhances entrepreneurship and supports paths of development and growth.” Various sectors and industries.

He stressed, "Huawei, as a leading global company in providing infrastructure and smart devices for information and communications technology, is committed to putting its capabilities and expertise to develop the information and communications technology sector in the countries in which it operates, and its business strategy aims to harness technology to advance social and economic sustainability in the long term." link

RV/GCR Heading to the Launchpad: Prepare for a Currency Reset

On June 10, 2024 By Awake-In-3D

BRICS’ new currency will launch a global REVALUATION and challenge RESET the financial system once and for all.

The fiat currency financial landscape stands on the edge of a major shift with the potential for a significant revaluation (RV) and a global currency reset (GCR).

This transformative change is closely tied to the ongoing initiative by the BRICS Alliance to introduce a new gold-backed common trade currency.

ALSO READ: BRICS Now Dominates Global Oil, Gold and Energy Supplies

The BRICS bloc is increasingly seeking to reduce its reliance on Western G7 currencies, particularly the US dollar, for international trade. The quest for economic sovereignty and financial stability drives these nations to consider a common trade currency.

A significant revaluation of currencies will be a key result of this initiative, profoundly impacting the global financial system.

In This Article

• Reducing Reliance on G7 Currencies

• The Inadequacy of Existing BRICS Currencies

• The Need for a Globally Acceptable Currency

• Integration into the Forex Market

• Benefits of Gold Backing

Reducing Reliance on G7 Currencies

The dominance of the US dollar and the euro in international trade presents significant challenges for BRICS nations.

Dependence on these currencies exposes BRICS economies to the monetary policies and economic fluctuations of Western nations. This dependence often results in economic instability, as decisions made by the Federal Reserve or the European Central Bank can have far-reaching, negative effects on BRICS economies.

For instance, interest rate hikes in the US can lead to capital outflows from BRICS nations, causing currency devaluations and economic turmoil.

A common trade currency would mitigate these vulnerabilities, providing BRICS members with greater control over their economic destinies and reducing the influence of G7 monetary policies on their economies.

The Inadequacy of Existing BRICS Currencies

None of the individual BRICS currencies—the Chinese yuan, Russian ruble, Indian rupee, Brazilian real, or South African rand—have the global acceptance or liquidity of the US dollar or euro. Each of these currencies has its own set of challenges, including limited international use, lower levels of liquidity, and susceptibility to domestic economic issues.

Relying solely on a basket of these currencies would not solve the problem, as these currencies lack the widespread use and trust needed for efficient international trade.

Additionally, the volatility and varying economic policies of the BRICS nations can lead to instability in the value of these currencies, making them less reliable for international transactions.

The Need for a Globally Acceptable Currency

For BRICS to enhance trade efficiency and efficacy, a new, globally acceptable currency is essential.

This common trade currency (CTC) would be used by all BRICS members for trade among themselves and potentially accepted by many non-BRICS countries, promoting smoother and more reliable cross-border transactions. The CTC would serve as a stable and reliable medium of exchange, reducing transaction costs and exchange rate risks associated with using multiple currencies.

This stability would encourage more countries to engage in trade with BRICS nations, fostering economic growth and cooperation.

Establishing a New Central Bank and Clearing House

To manage the new currency, BRICS would need to establish a central bank facility dedicated to the CTC. This institution would oversee the issuance and regulation of the currency, ensuring its stability and trustworthiness.

The central bank would implement monetary policies to maintain the value of the CTC and manage its reserves of gold and BRICS currencies.

Additionally, a central clearing house similar to the Bank for International Settlements (BIS) would be necessary to facilitate efficient and secure transactions. This clearing house would act as a financial intermediary, ensuring that cross-border transactions are settled smoothly and reducing the risk of fraud and financial mismanagement.

The Structure of the Common Trade Currency

To ensure high fungibility and acceptance, the proposed CTC would be backed by 40% gold and a basket of major BRICS member currencies. This backing would lend stability and credibility to the CTC, making it an attractive option for international trade partners.

Gold, a universally recognized store of value, would enhance the currency’s stability, while the inclusion of BRICS currencies would reflect the economic strengths of the member nations.

The 40% gold backing would provide a solid foundation for the CTC, reducing the risk of inflation and currency devaluation.

The remaining 60% would be backed by a diversified basket of BRICS currencies, ensuring that the CTC reflects the collective economic power of the member nations.

Attracting Non-Member Nations

The gold-backed CTC would appeal to many countries outside the BRICS bloc, except for G7 nations like the US, EU, England, and Canada, which may resist such a shift.

The stability and value offered by gold backing would make the CTC an attractive medium for trade, enhancing its acceptance and use worldwide.

Non-member nations, particularly those in developing regions, would find the CTC to be a reliable alternative to the volatile G7 currencies, fostering economic ties with BRICS nations and reducing their reliance on Western financial systems.

Integration into Forex Markets

The CTC would soon find its way into the Forex market, further solidifying its acceptance and convertibility.

As a stable and reliable currency, it would offer an alternative to the volatile and inflation-prone fiat currencies of the G7 nations.

The integration of the CTC into Forex markets would provide traders and investors with a new instrument for hedging and investment, increasing its liquidity and global acceptance.

Over time, the CTC would become a significant player in the global currency market, challenging the dominance of the US dollar and euro.

Benefits of Gold Backing

Backing the CTC with gold would provide significant advantages.

Gold is a stable store of value, which would reduce inflation and offer superior stability compared to major G7 fiat currencies. The gold backing would make the CTC a reliable hedge against economic uncertainty, attracting international confidence and FDI (Foreign Direct Investment).

Historically, gold has been seen as a safe haven asset during times of economic turmoil. By backing the CTC with gold, BRICS nations can ensure that their currency remains stable and retains its value even during global financial crises.

Stronger BRICS Member Currencies Drives the RV/GCR

A crucial benefit of the Common Trade Currency (CTC) is the significant revaluation (RV) and global currency reset (GCR) it would trigger for BRICS member currencies.

By linking their currencies to a gold-backed CTC, BRICS nations would experience a substantial appreciation (RV) in their exchange rates against G7 fiat currencies.

This revaluation would be driven by the intrinsic value and stability provided by the gold backing, enhancing the global standing of BRICS currencies.

The RV and GCR process would logically unfold as follows:

1. Gold-Backed Stability: The gold component would provide a stable foundation, reducing inflation and increasing confidence in BRICS currencies. Investors and global markets would recognize the inherent value of a currency backed by a tangible asset like gold.

2. Increased Demand: As the CTC gains acceptance in international trade, demand for BRICS currencies would rise. This increased demand would naturally lead to an appreciation of their values.

3. Market Adjustments: Forex markets would adjust to the new reality of a stable, gold-backed currency. Traders and investors would shift their portfolios to include more BRICS currencies, further driving up their values.

4. Global Acceptance: The widespread acceptance of the CTC would reduce the dominance of the US dollar and euro. As more countries and businesses start using the CTC, the reliance on G7 currencies would diminish, causing a shift in global currency dynamics.

5. Economic Benefits: The strengthened exchange rates would lead to lower import costs for BRICS nations. This reduction in costs would increase the purchasing power of BRICS citizens and businesses, fostering economic growth and development.

6. Long-Term Stability: The consistent value provided by the gold backing would ensure long-term stability for BRICS currencies. This stability would attract further investment and trade, reinforcing the positive cycle of currency revaluation and economic growth.

Overall, the introduction of a gold-backed CTC would not only stabilize and strengthen BRICS currencies but also initiate a broader RV and GCR across the global financial system against all purely fiat currencies.

ALSO READ: BRICS Now Dominates Global Oil, Gold and Energy Supplies

This strategic move would reduce dependence on G7 fiat currencies, enhance the economic sovereignty of BRICS nations, and contribute to a more balanced and multipolar global economy.

The Bottom Line

Introducing a common trade currency backed by 40% gold and a basket of BRICS member currencies is a strategic move that could transform international trade for BRICS nations. It would provide economic stability, reduce reliance on G7 currencies, and enhance the global standing of BRICS economies.

The creation of this new currency, supported by robust financial institutions, would mark a significant step towards a more balanced and multipolar global financial system.

The resulting RV of BRICS currencies would have far-reaching implications, including the rapid adoption of gold-backed currencies and the hyperinflation of any remaining fiat currencies – a planet wide GCR.

© GCR Real-Time News

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