Advice, Personal Finance DINARRECAPS8 Advice, Personal Finance DINARRECAPS8
I’m a Self-Made Millionaire but Received No Formal Financial Education – 5 Resources I Used To Teach Myself
Brooke Barley Mon, June 24, 2024
Did you know that there are 24.5 million millionaires in the United States? That means every 7 out of 100 people have millions in wealth at their disposal. How can you become one of them?
You might think that to amass a million dollars, you have to go to the right schools, take the right internships and get in on the ground floor somewhere right after college. That’s one path, but it’s not one that everyone takes. Some millionaires never take one business course at a university and still end up with a fortune.
I’m a self-made millionaire who received no financial training,” Stan Dzhishkaryani said. Despite no financial training, Dzhishkaryani is the founder and CEO of DZ Moving, a moving and logistics management company. “My financial acumen was based a lot on making lifestyle adjustments such as living a minimalist lifestyle and prioritizing health, which made a big difference.”
I’m a Self-Made Millionaire but Received No Formal Financial Education – 5 Resources I Used To Teach Myself
Brooke Barley Mon, June 24, 2024
Did you know that there are 24.5 million millionaires in the United States? That means every 7 out of 100 people have millions in wealth at their disposal. How can you become one of them?
You might think that to amass a million dollars, you have to go to the right schools, take the right internships and get in on the ground floor somewhere right after college. That’s one path, but it’s not one that everyone takes. Some millionaires never take one business course at a university and still end up with a fortune.
I’m a self-made millionaire who received no financial training,” Stan Dzhishkaryani said. Despite no financial training, Dzhishkaryani is the founder and CEO of DZ Moving, a moving and logistics management company. “My financial acumen was based a lot on making lifestyle adjustments such as living a minimalist lifestyle and prioritizing health, which made a big difference.”
1. Read Financial Texts
If you’re looking to grow your net worth, you don’t necessarily need to enroll at a business school. Your path to wealth can be as simple as going to the library.
Arvind Rongala didn’t have any financial education in a formal setting, but he is now the CEO of Edstellar, a company that provides corporate training solutions. Rongala said that he expanded his business knowledge by reading financial texts.
“When I first started, I lacked official financial knowledge, but I used several tools to learn. Personal financial, investment and entrepreneurial books were gems. For instance, reading books like ‘Rich Dad Poor Dad’ by Robert Kiyosaki and ‘The Intelligent Investor’ by Benjamin Graham taught me a lot.”
Other popular books for financial literacy include ‘The Richest Man in Babylon’ by George S. Clason, ‘Your Money or Your Life’ by Vicki Robin & Joe Dominguez, and ‘The Simple Path to Wealth’ by J.L. Collins.
Though Rongala didn’t knock formal schooling, he says teaching yourself offers the freedom you might not have in a school setting. “Self-teaching gives flexibility and [you can] be just as successful if one is dedicated and creative.”
You can focus on growing your business while absorbing the essential information to improve.
2. Check Out Online Courses
Even if you don’t have the money to enroll in college courses, you can still get so much from taking an online class. Kevin McLaughlin started his own contracting business Heritage Exteriors LLC. To do that, he looked for resources online that catered to his line of work to learn everything he could.
“Online resources and industry publications became critical as my business grew. For instance, to stay updated on best practices and new products, I frequently visited websites like the National Roofing Contractors Association (NRCA). I also spent many hours reading trade magazines such as ‘Roofing Contractor’ and ‘Qualified Remodeler,’ which provided actionable insights and real-world case studies.”
Rongala agreed with McLaughlin, saying there are plenty of websites now that offer courses in pretty much any field you’re looking to learn more about. “Websites like Coursera provide excellent free courses on company management and financial literacy.”
To Read More:
https://www.yahoo.com/finance/news/m-self-made-millionaire-received-182955232.html
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Awake-In-3D, Economics Dinar Recaps 20 Awake-In-3D, Economics Dinar Recaps 20
New BRICS Gold Token: Not a Cryptocurrency, Stablecoin, or CBDC
On June 23, 2024 By Awake-In-3D
Learn why the BRICS UNIT token currency is unlike anything you’ve heard about before.
In This Article
What is the BRICS UNIT Token?
Is the BRICS UNIT a Cryptocurrency?
Is the BRICS UNIT a Stablecoin?
Is the BRICS UNIT a CBDC?
What are Blockchain Nodes in the new BRICS UNIT Financial System?
What is the BRICS UNIT’s Role?
New BRICS Gold Token: Not a Cryptocurrency, Stablecoin, or CBDC
On June 23, 2024 By Awake-In-3D
Learn why the BRICS UNIT token currency is unlike anything you’ve heard about before.
In This Article
What is the BRICS UNIT Token?
Is the BRICS UNIT a Cryptocurrency?
Is the BRICS UNIT a Stablecoin?
Is the BRICS UNIT a CBDC?
What are Blockchain Nodes in the new BRICS UNIT Financial System?
What is the BRICS UNIT’s Role?
I get it. The revolutionary and groundbreaking makeup of the new BRICS+ gold-backed currency token (the UNIT) and its financial ecosystem is confusing.
This article explains what the UNIT token is, and how it differs from cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs).
What is the BRICS UNIT Token?
The UNIT token is a unique digital asset that is the definition of “real money”.
Combining both a stable store of value without the depreciation of fiat currencies like the US Dollar but also be fungible medium of exchange like a currency.
Unlike traditional cryptocurrencies or stablecoins, the value of the UNIT token is based on a basket of underlying assets, based on a 40% gold component and 60% local currencies component.
This combination gives the UNIT token a stable intrinsic value while being flexible and fungible for everyday transactions.
Is the BRICS UNIT a Cryptocurrency?
Cryptocurrencies, like Bitcoin, derive their value from supply and demand without being backed by physical assets.
The UNIT token, however, derives its value from a mix of gold and local currencies. This basket of assets ensures that the value of the UNIT token is more stable than that of typical cryptocurrencies, making it highly reliable for everyday use.
Is the BRICS UNIT a Stablecoin?
Stablecoins are designed to maintain a fixed value by being pegged to a fiat currency, like the US dollar.
The UNIT token, while also backed by assets, does not have a fixed value. Its value fluctuates based on the total value of its underlying assets and market demand.
This means the UNIT token is not a stablecoin, as it lacks the reverse conversion mechanism that stabilizes a stablecoins’ value.
Is the BRICS UNIT a CBDC?
Central Bank Digital Currencies (CBDCs) are digital versions of a country’s fiat currency, issued and regulated by the central bank.
The UNIT token, however, operates on a Decentralized Autonomous Organization (DAO) structure, which means it is governed by a community of users (node operators) rather than a central authority.
This decentralized nature differentiates the UNIT token from CBDCs, ensuring it remains an apolitical and globally accessible digital currency.
What are Blockchain Nodes in the new BRICS UNIT Financial System?
In the UNIT ecosystem, individual countries that join the currency and financial network operate their own independent blockchain nodes.
These nodes ensure the decentralized and distributed nature of the UNIT token, enhancing security and reliability. Each participating country maintains control over its node, contributing to the overall resilience and integrity of the UNIT network.
This structure allows for a collaborative yet autonomous participation in the global UNIT financial ecosystem.
What is the BRICS UNIT’s Role?
The UNIT token will function as money, offering a stable medium of exchange, a unit of account, and a store of value. These are the four primary pillars of an ideal economic and financial system offering equality, fairness and prosperity for all participants.
Unlike stablecoins, which are often used as a bridge in transactions, the UNIT token is a final stage currency. It will complement local currencies rather than replace them, providing a more stable and reliable alternative for trade and investment.
The Bottom Line
The UNIT token is a decentralized, asset-backed digital currency offering the benefits of both traditional money and digital assets.
Its unique structure and intrinsic value make it a promising tool for modern financial transactions, standing apart from cryptocurrencies, stablecoins, and CBDCs.
Its operation within a DAO framework and the use of independent blockchain nodes by participating countries ensure it remains decentralized and robust, making it a viable and innovative financial instrument.
Supporting article:https://brics-plus-analytics.org/how-does-the-brics-currency-transform-the-world-economy/
=======================================
© GCR Real-Time News
Visit the GCR Real-Time News website and search 100’s of articles here:Ai3D.blog
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Economics, News Dinar Recaps 20 Economics, News Dinar Recaps 20
U.S. Dollar Will Lose its Reserve Status, “We Fumbled this Big Time”: Charles Payne
Daniela Cambone: 6-24-2024
The Fed is on the verge of making a monumental mistake,” warns Charles Payne, host of Fox's "Making Money with Charles Payne.” Speaking with Daniela Cambone, Payne criticizes the Federal Reserve's decision to hold interest rates steady at a 23-year high, arguing it will not benefit the economy.
He also lashes out against the Fed's “data-dependency” approach, questioning, “What data exactly are you looking at? Are you looking at late payments? Are you looking at bankruptcies?”
On recent reports of Saudi Arabia breaking away from the petrodollar system, Payne acknowledges that de-dollarization is happening.
"We're not doing the things that come with the sort of fiduciary responsibility of having the world's premier currency," he says.
U.S. Dollar Will Lose its Reserve Status, “We Fumbled this Big Time”: Charles Payne
Daniela Cambone: 6-24-2024
The Fed is on the verge of making a monumental mistake,” warns Charles Payne, host of Fox's "Making Money with Charles Payne.” Speaking with Daniela Cambone, Payne criticizes the Federal Reserve's decision to hold interest rates steady at a 23-year high, arguing it will not benefit the economy.
He also lashes out against the Fed's “data-dependency” approach, questioning, “What data exactly are you looking at? Are you looking at late payments? Are you looking at bankruptcies?”
On recent reports of Saudi Arabia breaking away from the petrodollar system, Payne acknowledges that de-dollarization is happening.
"We're not doing the things that come with the sort of fiduciary responsibility of having the world's premier currency," he says.
He also advises people to stay flexible about the city where they buy their first home and to start saving. Watch the insightful interview now to learn more about Payne's views.
CHAPTERS:
00:00 De-dollarization
5:48 HSBC statement about the US dollar
7:21 Fed rate cuts
10:58 Job market
13:50 People can’t retire
16:52 Housing purchasing
20:44 Stock market
23:39 Investing in precious metals
24:58 Future of America
US Dollar to Get Re-Priced from ‘Widely Overvalued’ Levels, Massive Impact on Gold, Bitcoin Targets
Kitco News: 6-24-2024
U.S. Treasuries will be dumped as global reserves by 2030 as the U.S. dollar will get re-priced from "widely overvalued" levels, Luke Gromen, founder and president of Forest for the Trees (FFTT), tells Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News.
Gromen weighs in on what he sees as the new global reserve asset and what it means for gold and Bitcoin prices.
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Economics, Gold and Silver, Goldilocks, News DINARRECAPS8 Economics, Gold and Silver, Goldilocks, News DINARRECAPS8
Goldilocks' Comments and Global Economic News Monday 6-24-24
Good evening Dinar Recaps,
CFTC Announcement:
"Washington, D.C. — The Commodity Futures Trading Commission Open Meeting scheduled for Monday, June 24, 2024, has been cancelled. The matters under consideration have been completed through the Commission’s seriatim process."
Let's take a close look at what has been completed.
* "Final capital and financial reporting comparability determinations and orders for certain nonbank swap dealers domiciled in Japan, Mexico, the European Union (limited to France and Germany), and the United Kingdom
* Applications of ForecastEx LLC for Registration as a Derivatives Clearing Organization and a Designated Contract Market"
Goldilocks' Comments and Global Economic News Monday 6-24-24
Good Evening Dinar Recaps,
CFTC Announcement: "Washington, D.C. — The Commodity Futures Trading Commission Open Meeting scheduled for Monday, June 24, 2024, has been cancelled. The matters under consideration have been completed through the Commission’s seriatim process."
Let's take a close look at what has been completed.
* "Final capital and financial reporting comparability determinations and orders for certain nonbank swap dealers domiciled in Japan, Mexico, the European Union (limited to France and Germany), and the United Kingdom
* Applications of ForecastEx LLC for Registration as a Derivatives Clearing Organization and a Designated Contract Market"
The first item on the list above that was completed dealt with Cross-Border applications of Swaps Provisions. Capital and Financial reporting is being allowed by non-U.S. swap dealers and market participants (MSPs) that meet agreed upon standards with their home jurisdiction's regulations instead of the CFTC's. You can look at the list above of Nations that qualify.
The reason for the above being so important is because of the following procedures. These swap execution facilities have to be registered to operate as derivatives clearing organization that will allow global access to foreign currency exchanges and other financial instruments of interest.
The final item deals with designating contracts. Designated Contract Markets (DCMs) are exchanges that list trading futures or option contracts that are based on all types of commodities. And this, comes under the Commodities and Futures Trading Commission (CFTC) and their governance.
Compliance Date: Effective July 13, 2023. Derivative Clearing Organizations DCOs must comply by July 12, 2024. (See Federal Register link below)
The completion of these swap dealer compliance issues in the Forex Market comes at a time when Iraq has just completed their requirements on phase one of their economic reforms. Phase one is a completion of reforms that have now qualified Iraq for international trade. CFTC Federal Register
© Goldilocks
~~~~~~~~~
Options Clearing Corporation: Risk Management Transformation |Youtube
~~~~~~~~~
Understanding Treasury Contract Specifications |Youtube
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Central Bank Swap Arrangements, Explained |Youtube
👆 Goldilocks pointed to this article
~~~~~~~~~
Hong Kong invites global opinions on web3 and virtual assets future -StartupNews fyi
~~~~~~~~~
Asset managers update proposals for Ether ETFs, eyeing July launch —Blockchair News
~~~~~~~~~
Commission seeks input from industry on the use of artificial intelligence in finance -European Commission
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The podcast 6/22/24 on Vietnam should get everyone excited about where we are with FACTS. Podcast Youtube
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New BRICS+ Currency Is the Key to Global Financial Prosperity
On June 22, 2024 By Awake-In-3D
Discover how the UNIT Ecosystem’s innovative design will trigger a global currency reset, leveraging 2.5X the purchasing power of its intrinsic gold-backing.
In This Article
The Superior Purchasing Power of UNIT-Based Currencies
Explaining the UNIT’s 2.5X Purchasing Power Leverage of Gold
Mechanisms Behind the Global Currency Reset and Revaluation
The Long-Term Impact on Global Trade and Investments
New BRICS+ Currency Is the Key to Global Financial Prosperity
On June 22, 2024 By Awake-In-3D
Discover how the UNIT Ecosystem’s innovative design will trigger a global currency reset, leveraging 2.5X the purchasing power of its intrinsic gold-backing.
In This Article
The Superior Purchasing Power of UNIT-Based Currencies
Explaining the UNIT’s 2.5X Purchasing Power Leverage of Gold
Mechanisms Behind the Global Currency Reset and Revaluation
The Long-Term Impact on Global Trade and Investments
Trust and confidence in traditional G-7 fiat currencies is waning as their purchasing power evaporates into unsustainable debt.
However, the new UNIT ecosystem offers a revolutionary financial system solution with its gold-backed UNIT tokens, providing superior purchasing power, store of value, and stability.
Unlike traditional fiat currencies, UNIT tokens leverage their intrinsic gold collateral, making them a more reliable and economically efficient option for international trade and transactions.
Countries that participate in the UNIT Ecosystem will see their native currencies revalue higher than traditional fiat currencies in terms of purchasing power (exchange rate valuation).
The Superior Purchasing Power of UNIT-Based Currencies
UNIT-based currencies derive their superior purchasing power and stability from their unique design and gold backing. Here are the key reasons why UNIT-based currencies have higher value than traditional G-7 fiat currencies:
Gold-Backed Stability: UNIT tokens are anchored to a basket containing 40% gold, providing intrinsic value. This backing ensures that UNIT-based currencies are more stable and less susceptible to inflation and geopolitical risks compared to fiat currencies.
Leverage Over Gold Collateral: By minting UNIT tokens with 60% local currencies and 40% gold, the ecosystem offers x2.5 leverage over the gold collateral. This leverage enhances the purchasing power of UNIT tokens, making them more valuable than pure fiat currencies.
Reduced Transaction Costs: The UNIT ecosystem reduces the full economic costs associated with cross-border payments in local currencies, which can approach 10%. These costs include commissions, exchange rate differences, and working capital expenses. Lower costs translate to higher effective value for those using UNIT tokens.
Economic Benefits for Trade: Importers benefit from reduced transactional costs, while exporters gain from the stability of financial flows. The stability and lower costs of using UNIT tokens in cross-border trade increase their purchasing power compared to traditional fiat currencies.
Explanation of the UNIT’s 2.5x Leverage Over Gold Collateral
The 2.5x leverage over gold collateral in the UNIT ecosystem allows for the creation of UNIT tokens that have greater economic value and purchasing power than the actual gold backing them.
Here’s what the UNIT Token is made up of:
Gold Collateral: Each UNIT token is backed by a basket that includes 40% gold. This means that for every UNIT token issued, there is a certain amount of gold held as collateral to guarantee the token’s value.
Leverage Mechanism: By accepting 60% of the value in local currencies from the Global South and 40% in gold, the ecosystem effectively multiplies the value of the gold collateral. For every unit of gold value, the system issues tokens worth 2.5 times that value.
This leverage allows the UNIT ecosystem to create more value from the gold it holds. For instance, if the gold collateral is worth $1 million, the system can issue UNIT tokens valued at $2.5 million.
The leveraged value means that UNIT tokens can facilitate larger transactions and carry greater purchasing power than the actual amount of gold held. This makes UNIT tokens more efficient for use in cross-border trade and other economic activities.
By leveraging the gold collateral, the UNIT ecosystem maximizes the economic utility of the gold, enabling more significant economic activity without requiring equivalent physical gold reserves for every transaction.
Mechanisms Behind the Global Currency Reset and Revaluation
The UNIT ecosystem’s innovative design facilitates a global currency reset and revaluation. Here’s how it works:
Gold Collateral: Minting UNIT tokens with local currencies and gold provides a stable, leverage-backed currency for international transactions.
Enhanced Value: The intrinsic value from gold backing and reduced transaction costs make UNIT tokens more valuable than traditional fiat currencies.
Plug-and-Play Solution: The ecosystem integrates seamlessly with existing financial infrastructure, minimizing complexity and reducing reliance on political or regulatory solutions.
Increased Circulation: As UNIT tokens circulate more widely, economies of scale will accrue, enhancing the ecosystem’s attractiveness and further increasing the purchasing power of UNIT-based currencies.
The Long-Term Impact on Global Trade and Investments
The UNIT ecosystem’s stable and apolitical nature, combined with its advanced technological solutions, will foster global economic growth and stability. Here are the expected long-term impacts:
Reduced Risk: UNIT’s stable value will lower the risk for all parties involved in trade and capital transactions.
Facilitate Development: The ecosystem will support the growth of an indigenous capital base in the Global South, reducing dependence on external sources.
Enhanced Balance-of-Payments: The introduction of UNIT for cross-border trade will positively impact the balance-of-payments for the Global South due to its stability and lower transaction costs.
Promote Integration: Diverse participants will integrate into the UNIT ecosystem, creating a level playing field and facilitating long-term investment and development.
The Bottom Line
The UNIT ecosystem offers a revolutionary solution to the trust crisis in global finance. By anchoring UNIT tokens to gold and providing a stable, adaptable currency, the ecosystem will spark a global currency reset and revaluation.
This change promises to enhance global trade, reduce economic risks, and promote sustainable development, particularly in non-G7 countries.
Supporting article:https://winepressnews.com/2024/05/20/brics-discusses-accepting-the-unit-a-new-decentralized-monetary-system-backed-by-gold-and-local-currencies/
=======================================
© GCR Real-Time News
Visit the GCR Real-Time News website and search 100’s of articles here:Ai3D.blog
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Follow me on Twitter:@Real_AwakeIn3D
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MarkZ, Chats and Rumors Dinar Recaps 20 MarkZ, Chats and Rumors Dinar Recaps 20
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Morning Mark and all Mods hope this is a better week.
Member: Gooooood morning fellow future rich people
Member: I have a pretty good feeling about this week!!!!!
Member: I think timing for big things will happen between now and the 4th
Member: Christmas in July, I'm good with that. but I'd prefer June. Lol
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Morning Mark and all Mods hope this is a better week.
Member: Gooooood morning fellow future rich people
Member: I have a pretty good feeling about this week!!!!!
Member: I think timing for big things will happen between now and the 4th
Member: Christmas in July, I'm good with that. but I'd prefer June. Lol
Member: You would think the good guys would want to make July 4 special
Member: I hope we have better news from the bonds then we've had the last two weeks
Member: Things are moving. Whether we see progress or not
Member: Guess nothing happened on the 23rd….Another date bites the dust.
Member: I wonder what happened to the banking crash on the 23rd?
MZ: I don’t know. What did happen is the question. There were great rumors for the weekend and its Monday Morning ….We have not been able to check yet-what was rumor or what is factual.
MZ: If they changed the system on the 23rd- we should find out somewhere in the first day or two if this week .We are not going to get an immediate affect ….but should see it play out this week.
MZ: I honestly don’t feel it is worth hashing out the rumors until we can prove or disprove them today.
MZ: We should find out today if the rumors of the 1% payout for historic bond folks is accurate or not.
MZ: We heard there was a lot of movement with ATM’s in Iraq. But so far this morning it is unsubstantiated.
Member: I wonder -does the movie have to play out or are we waiting for Gold backed money?
Member: If all Countries are going Gold backed, we have to go very soon or we can't do business with them! IMO
MZ: The rumors are flying. Now we have to find out if they are real.
Member: Do we know for sure if we will be taxed at our exchange or not?
MZ: We do not know for sure. Its best to plan on being taxed and hope you are not. I do not think we are going to be taxed. Most of my sources say we will not….but I am prepared if they are wrong.
Member: Capital gains tax in Canada is 66% … no taxes please
Member: At this point I would gladly pay the tax if it would just gooooooooooooo
Member: So no budget published yet?
MZ: It was still not in the Gazette as of last Saturday
Ariel on X is saying the dinar is getting ready to RV and MMan answered saying “we are in great shape”
Member: My local Chase bank just added “Wealth Management Services” to their front glass doors
Member: Mark do you think we will go before the 4th of July?
MZ: I think it is well within the realm of possibility.
Member: June 24th 1997, the United States Air Force reports on Roswell. release the report titled "Case Closed"
Member: Anyone notice the overwhelming quantity of Wonderful, encouraging BRICS news posted everywhere…….and the sick, depressing, horrible news that spews from the US?
Member: If the US continues to be terrible….post RV-It might be better to move to a BRICS country…..I’m sick of depressing stuff. We need something good in the news.
Member: If there are any white hats….if they exist….they need to do something….something we can see.
Member: Thanks to all today…..hope everyone has a great day today.
StacieZ joins the stream at the end today. Please listed to replay for her information
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
Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
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/
MARK’S TELEGRAM ROOM FOR WORLD NEWS EVENTS & CHAT? LINK: https://t.me/TrollingNews_telegram
THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!
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.
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Iraq News Highlights and Points To Ponder Monday AM 6-24-24
Oil Continues Its Losses As Commodity Markets Are Affected By The Rise Of The Dollar
Monday 24, June 2024 08:38 | Economical Number of readings: 148
Baghdad / NINA / Oil prices fell in early Asian transactions today, Monday, for the second session in a row, affected by the rise of the dollar after renewed fears of the continuation of high interest rates for a longer period and the lack of risk appetite among investors.
By dawn today, Brent crude futures fell 40 cents, or 0.5%, to $84.84 per barrel, after falling 0.6% upon settlement on Friday. West Texas Intermediate crude futures also fell 39 cents, or 0.5%, to $80.34 per barrel. The rise of the dollar raises the cost of purchasing oil denominated in the US currency for holders of other currencies.
Iraq News Highlights and Points To Ponder Monday AM 6-24-24
Oil Continues Its Losses As Commodity Markets Are Affected By The Rise Of The Dollar
Monday 24, June 2024 08:38 | Economical Number of readings: 148
Baghdad / NINA / Oil prices fell in early Asian transactions today, Monday, for the second session in a row, affected by the rise of the dollar after renewed fears of the continuation of high interest rates for a longer period and the lack of risk appetite among investors.
By dawn today, Brent crude futures fell 40 cents, or 0.5%, to $84.84 per barrel, after falling 0.6% upon settlement on Friday. West Texas Intermediate crude futures also fell 39 cents, or 0.5%, to $80.34 per barrel. The rise of the dollar raises the cost of purchasing oil denominated in the US currency for holders of other currencies.
But crude contracts rose by about 3% last week due to indications of increased demand for oil products in the United States, the world's largest consumer, as well as the continued implementation of production cuts in the OPEC+ group.
Oil prices received support from geopolitical risks in the Middle East due to the war in the Gaza Strip, as well as the intensification of Ukrainian drone attacks on Russian oil refineries.
]https://ninanews.com/Website/News/Details?key=1133787
The Dollar Rises Again Against The Iraqi Dinar After Declining For Two Consecutive Days
Economy |Today Baghdad today – Baghdad Today, Monday (June 24, 2024), the dollar exchange rates recorded a slight increase against the Iraqi dinar on the main stock exchange in the capital, Baghdad .
The "Baghdad Today" correspondent said, "The dollar prices on the Al-Kifah and Al-Harithiya stock exchanges recorded 147,100 dinars for every 100 dollars."
He added, "Prices in banking shops in local markets in Baghdad also recorded an increase, as the selling price reached 148,000 dinars, while the purchase price reached 146,750 dinars for every 100 dollars." LINK
The 2024 Budget Is Safe With Government Controls
Iraq 06/24/2024 The Budget Department of the Ministry of Finance called on all ministries, governorates, and entities not affiliated with a ministry, to send their authorized representatives for the purpose of receiving estimates of current expenditures, revenues, and investment projects for the current year, approved by the House of Representatives, and this is the first time that general budget tables have been approved and not a law.
Budget, where the government set a general budget for three years (2023, 2024, 2025).
There has been much talk among specialists about the budget deficit, which some have estimated at 25 percent, while the government seems confident in its calculations and is constantly calling for reassurance.
The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Saleh, on specific mechanisms to fill the supposed deficit.
Saleh told Al-Sabah: “There are various objective factors that public finances depend on in the event of a real emergency deficit during the remaining six months of spending of the current fiscal year, which is known as limited resort to short-term loans or bridge loans in the terminology.”
He explained, “The general budget law in force allows borrowing with treasury bonds or transfers from the internal banking market, in addition to controlling operational spending priorities, which is what is called financial discipline, which tends towards preferring some necessary operational expenses over others according to priorities,” indicating that “this comes To provide sufficient financing for the committed urban projects without faltering or stopping.”
Saleh noted that “the policy of financial discipline adopted by the fiscal policy has become more restrictive in collecting government revenues and in accordance with strict oversight characterized by speed and precision,” and stated that “it is no secret that there are funds that were not spent from the previous fiscal year’s budget and were recycled, which provides a facilitating, compensatory climate.” In the flow of cash revenues, especially in meeting part of the basic and development spending needs in the current year’s budget.”
He pointed out, "Despite the above, oil markets are still in booming demand and their prices are higher at a rate of change of (positive 15 percent) than what is planned for the price of a barrel of crude oil in Federal Budget Law No. 13 of 2023 (the tripartite budget), which is $70 per barrel." “One,” he stressed, “this in itself is a positive element in covering necessary spending, and leads to a continuous reduction in the hypothetical or planned deficit gap.”
In this context, economic affairs researcher, Nabil Jabbar Al-Tamimi, stated that the ceiling on government spending and revenues is restricted, expecting that public spending will not exceed the available amounts.
Al-Tamimi told “Al-Sabah”: “The general budget is numbers, tables, and hypothetical estimates for revenues and spending, and in general, the government has set a high ceiling for revenues and spending, and indicated that a large deficit could occur in the issue of revenues to cover spending.” He added, “The government has put in place a set of plans.” To cover the budget deficit, including borrowing and selling bonds.
He continued, "The government will not spend more than the expected revenues and will not be able to implement the budget in full technically and financially, and spending at the end of the year will not exceed 150 trillion dinars." He stressed that "this number is the amount of revenue achieved with a small deficit," indicating that "the government will not You can implement the budget in full and will remain hostage to the funds collected, which will be spent according to the available ceiling.”
Edited by: Muhammad Al-Ansari https://alsabaah.iq/98452-.html
An Economist Expects The Dollar Exchange Rate To Approach The 140,000 Threshold
Economy Information / Baghdad..Today, Monday, the economic expert, Nabil Al-Ali, expected a decline in the exchange rates of the US dollar against the Iraqi dinar during the coming period.
Al-Ali told Al-Maaloma Agency, “There is a possibility that the exchange rate of the dollar against the dinar will reach 142 thousand in the coming days if the Central Bank of Iraq’s sales of foreign currency continue to increase.”
He added, "The increase in the Central Bank of Iraq's sales of dollars through the currency auction will contribute to reducing exchange rates, even if slightly, without returning to the threshold of 150,000 or more."
Al-Ali pointed out that "exchange rates recorded a relative decline at the beginning of this week."
America worked to destroy the Iraqi currency by imposing sanctions on private banks and banning the dollar under many pretexts, which led, in one way or another, to a severe financial crisis in the local markets. LINK;
Provoking Thoughts and Points To Ponder On Adversity
Trouble will rain on those who are already wet. -Anonymous
They say a reasonable amount o' fleas is good for a dog - it keeps him from broodin' over bein' a dog mebbe. -Edward Noyes Westcott
There is nothing the body suffers which the soul may not profit by. -George Meredith
The burden is equal to the horse's strength. -The Talmud
Nothing befalls a man except what is in his nature to endure. -Marcus Aurelius
I am escaped by the skin of my teeth. -Bible
http://famousquotesandauthors.com/topics/adversity_quotes.html
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Economics, Advice, Personal Finance DINARRECAPS8 Economics, Advice, Personal Finance DINARRECAPS8
The US Debt Is Near $1,000,000 Per American: Where the Money Went and Why It Matters to You
J. Arky Sat, June 22, 2024 GoBankingRates
America has a problem: We, as a country, are in a massive money hole. It’s one of many issues the nation is currently facing and attempting to figure out a solution forward. While many nations frequently struggle to maintain balance in a financial standing with lenders and other countries, the United States is facing a staggering number of $1,000,000 worth of debt per citizen.
In March 2024, CNBC reported that America’s national debt “…permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months. U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 trillion.”
The US Debt Is Near $1,000,000 Per American: Where the Money Went and Why It Matters to You
J. Arky Sat, June 22, 2024 GoBankingRates
America has a problem: We, as a country, are in a massive money hole. It’s one of many issues the nation is currently facing and attempting to figure out a solution forward. While many nations frequently struggle to maintain balance in a financial standing with lenders and other countries, the United States is facing a staggering number of $1,000,000 worth of debt per citizen.
In March 2024, CNBC reported that America’s national debt “…permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months. U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 trillion.”
That is a lot of money and there are not a lot of clear answers as to how to pay it off. Even in an advanced country, which is often seen as the richest and most powerful nation in the world, the path to wiping the slate clean and going back to zero remains murky at best. So where did all this debt come from and how is it going to impact you as a citizen of the United States? GOBankingRates checked in with a few economists to find out.
How Did We Get Here?
“The U.S. national debt reaching nearly $1,000,000 per American can be a startling figure, but it is essential to break down where this debt comes from and its implications,” said Dennis Shirshikov, a finance professor at the City University of New York.
Shirshikov defined the national debt as the total amount of money that the U.S. federal government owes to creditors, which range from financial institutions, private investors and other lenders across international lines.
“It comprises both public debt, owed to foreign and domestic investors, and intragovernmental holdings, such as Social Security and Medicare trust funds,” Shirshikov explained. “The debt has accumulated over decades due to persistent budget deficits, where government expenditures surpass revenues.”
The rise of high-interest consumer credit options played a huge role for the current balance facing Americans, according to Michael Schmied, senior financial analyst at Kredite Schweiz, who specifically highlighted the role of credit cards, personal loans and those tempting buy-now-pay-later offers as contributors to the nation’s debt.
“They make borrowing money way too easy — and often come with sky-high interest rates,” Schmied said. “This combo has led folks to rack up debt faster than they can pay it off, pushing the average debt per person up to almost $1 million.”
Where Did All This Money Go?
To Read More:
https://www.yahoo.com/finance/news/us-debt-near-1-000-190024462.html
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Economics, News Dinar Recaps 20 Economics, News Dinar Recaps 20
TNT: Tishwash: Al-Nujaba: There is no solution to the American presence in Iraq except through “military jihad”
Today, Sunday, Al-Nujaba Movement identified a single solution to end the American presence in Iraq.
The movement stated in a statement received by Al-Youm Al-Akhbariya: “We congratulate the brothers in the Sayyid al-Shuhada Brigades on the rise of the Mujahid Abdullah Razzaq Anoun al-Safi as a martyr following a brutal American attack.”
She continued, "This targeting and previous American terrorist operations confirm, beyond doubt, the validity of what the Al-Nujaba Movement has repeatedly declared, that the presence of these occupying forces is a hostile combat presence whose job is to protect the interests of the American and Zionist occupation."
Al-Nujaba continued her statement: "We affirm the continuation of our jihadist work." Military, which we consider to be the only solution that limits and ends the existence of the occupation.” link
TNT:
Tishwash: Al-Nujaba: There is no solution to the American presence in Iraq except through “military jihad”
Today, Sunday, Al-Nujaba Movement identified a single solution to end the American presence in Iraq.
The movement stated in a statement received by Al-Youm Al-Akhbariya: “We congratulate the brothers in the Sayyid al-Shuhada Brigades on the rise of the Mujahid Abdullah Razzaq Anoun al-Safi as a martyr following a brutal American attack.”
She continued, "This targeting and previous American terrorist operations confirm, beyond doubt, the validity of what the Al-Nujaba Movement has repeatedly declared, that the presence of these occupying forces is a hostile combat presence whose job is to protect the interests of the American and Zionist occupation."
Al-Nujaba continued her statement: "We affirm the continuation of our jihadist work." Military, which we consider to be the only solution that limits and ends the existence of the occupation.” link
Tishwash: The President of the Republic calls for amending laws related to investment
The President of the Republic, Abdul Latif Gamal Rashid, called today, Monday, for amending the laws related to investment, while praising the efforts of the Financial Supervision Bureau.
A statement from the Presidency of the Republic, received by Al-Iqtisad News, stated that “President of the Republic, Abdul Latif Jamal Rashid, received today at Al-Salam Palace in Baghdad, the Chairman of the National Investment Authority, Haider Muhammad Makiya,” noting that “during the meeting, the National Authority’s work plans and its investment policy were reviewed.”
The President of the Republic pointed out "the necessity of overcoming obstacles facing investors, as well as supporting Iraqi businessmen and involving them in the investment process."
He explained that "activating investment requires making amendments to some of the applicable laws," stressing his support for "everything that would facilitate and revitalize this vital sector in a way that strengthens the national economy and provides job opportunities."
He stressed "developing communication mechanisms, exchanging experiences and information, and enhancing the process of trade partnerships between Iraq and countries with expertise in this field."
For his part, Makiya stressed the Authority's "keenness to develop the work," reviewing "the investment plans and projects currently in the works, in addition to the future plans drawn up to develop all cities in Iraq and serve their residents."
The statement continued, "The President of the Republic, Abdul Latif Jamal Rashid, also received today at Al-Salam Palace in Baghdad, the head of the Financial Supervision Bureau, Ammar Subhi Khalaf, and during the meeting, the work of the Financial Supervision Bureau was discussed."
The President of the Republic stressed "the importance of the Bureau's work in establishing concepts of integrity and transparency for the work of state institutions," noting "the necessity of continuing efforts to preserve public money and combat administrative and financial corruption."
He pointed out that "promoting the concepts of integrity and anti-corruption helps support the country's development process, enhances investment and supports the private sector, and provides equal opportunities for all," indicating "the importance of strengthening coordination between all regulatory bodies to achieve these goals."
He referred to "the work of the Financial Supervision Bureau in monitoring the performance of state institutions," praising "the efforts made by it in taking care of public money, reducing waste of spending, and monitoring the implementation of development projects in the country."
For his part, Ammar Sobhi Khalaf appreciated the “directives of the President of the Republic,” reviewing the work progress of the Financial Supervision Bureau, the tasks assigned to it, and the plans drawn up to develop the work in the future to achieve the goals set for it.” link
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Tishwash: Warning against trading digital currencies in Iraq
The Securities Commission warned against trading digital currencies in Iraq, noting that there are 9,000 currencies in the world.
Waddah Al-Taha, a member of the Authority’s Council, explained that digital currencies are virtual currencies created by individuals, not an entity authorized by governments, and they are based on unsubstantiated assumptions, whether they are currencies, gold, or other assets.
He added that the existence of digital currencies depends on scarcity, such as Bitcoin, of which there are 21 million pieces, and their acquisition requires solving a puzzle to access them, or using mining or logarithms, and they consume a lot of electrical energy.
Al-Taha pointed out that adopting such assets to exchange goods using cryptocurrencies is a dangerous gesture the more it is adopted, but it has been imposed in one way or another on countries or companies, and is not determined by influential parties, whether the United States, China, or other major economies, noting that it must There should be rules for these currencies, not that the door be wide open for them.
He refused to let Iraq deal in these currencies because they lacked basis for evaluation except supply and demand. link
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CandyKisses: Disabling official working hours next Tuesday (Tomorrow) on the occasion of Eid Al-Ghadir
Baghdad - Mil
The State Media Cell announced, on Sunday, the disallation of official working hours next Tuesday on the occasion of Eid Al-Ghader Al-Aghar.
The official media quoted the spokesman for the team, Haider Al-Majeed, followed by "Mil", that "The Prime Minister, Mohammed Shia Al-Sudani, directed during the meeting of the Council of Ministers, in its twenty-fourth regular session, held on 2024/6/10, to disrupt official working hours on Tuesday, corresponding to June 25, 2024, in all ministries and government institutions, coinciding with the day of Ghadeer, based on the provisions of Article (1/I/G) of the Law on Public Holidays (12 of 2024)."
With the launch of the activities of "Al-Ghadeer Week" with the participation of 12 countries, the Iraqi Ministry of Interior confirmed, on Friday, the preparation of a plan to secure the atmosphere of Eid Al-Ghadeer Al-Agar and facilitate the entry and movement of visitors in Najaf and the rest of the governorates.
Last Thursday, the Supreme Committee for the activities of "Ghadeer Week" in Iraq announced the completion of the preparations and preparations for that religious occasion, which was approved on a recent official holiday.
On the 18th day of Dhul-Hijjah according to the Hijri calendar, Shiites celebrate "Eid Al-Ghadir," which is the date on which the Prophet Muhammad delivered the sermon of Ghadeer in the area of "Ghadeer Kham", while returning from his last argument (the farewell pilgrimage), in the tenth year of Hijra, in which his cousin, Imam Ali, was given an imam to Muslims after him.
On May 22, the Iraqi parliament voted on the bill for public holidays, which included the Eid al-Ghadeer holiday.
Mot: ... ssssshhhhhhhhhhhhhhh
Mot :Getting Serious Now - Got my new workout equipment
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Chats and Rumors, Economics Dinar Recaps 20 Chats and Rumors, Economics Dinar Recaps 20
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 Mon. 24 June 2024
Compiled Mon. 24 June 2024 12:01 am ESTby Judy Byington
Global Currency Reset:
Judy Note: On Sat. 22 June 2024 Texas Snake, Wolverine, MarkZ and Tony all reported that this weekend Redemption Center staff were put on a one hour alert for report to their stations in order to schedule Tier4b (Us, the Internet Group) appointments and later, help complete currency exchanges. A HSBC Bank Manager in Australia confirmed the above, saying the one hour alert extended until Thurs. 27 June. Wolverine said the Brazilian channel was adamant that this is our week. A Bond Holder claimed he was promised liquidity by Tues. 25 June. Tony maintained that the Dinar Contract rate was $28.50, though you had to ask for it.
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 Mon. 24 June 2024
Compiled Mon. 24 June 2024 12:01 am ESTby Judy Byington
Global Currency Reset:
Judy Note: On Sat. 22 June 2024 Texas Snake, Wolverine, MarkZ and Tony all reported that this weekend Redemption Center staff were put on a one hour alert for report to their stations in order to schedule Tier4b (Us, the Internet Group) appointments and later, help complete currency exchanges. A HSBC Bank Manager in Australia confirmed the above, saying the one hour alert extended until Thurs. 27 June. Wolverine said the Brazilian channel was adamant that this is our week. A Bond Holder claimed he was promised liquidity by Tues. 25 June. Tony maintained that the Dinar Contract rate was $28.50, though you had to ask for it.
Global Financial Crisis:
The mother of all stock market bubbles is in plain sight. https://x.com/globalmktobserv/status/1804643025328488647?s=46&t=P2Ls81hs8j9RD7M6kNgOvw
Jekyll Island and the Truth Behind the Federal Reserve: https://beforeitsnews.com/economics-and-politics/2024/06/jekyll-island-the-truth-behind-the-federal-reserve-videos-2532166.html
Sun. 23 June 2024 Greg Hunter & Bill Holter: No Way Financial System Survives! – Must Video | Economy | Before It’s News (beforeitsnews.com)
Financial writer and precious metals broker Bill Holter has been documenting all the un-payable debt that has been building up in the financial system like cancer.The latest black hole of default is coming from a big bank in Japan.
Norinchukin Bank is selling $63 billionin Treasuries and other sovereign bonds to stay afloat.Then there is recent news announced by theFDIC that 63 US banks (the names are being kept secret) have more than $500 billion in losses,and let’s not forget about the trillions in losses sitting on the books of European banks ready to suck the world into a black debt hole.
This is just a few of many on a long list of destabilizing problems that can tank the entire over-indebted financial system.Holter warns, “The list is so long, it could be a banking problem. It could be a derivatives problem. It could be a derivatives problem in the stock market, the bond market and you could see a failure to deliver in silver.
Some type of warfare could crash the system.You could see warfare in Ukraine, Israel or Taiwan. The system is so unstable, at this point, it could be anything that could bring it down.Unpayable debt is not just a US problem.This is all over the world.
Central banks are having to issue huge amounts of debt because we are in the exponential decay phase.We are exactly where Richard Russell said we would be 20 years ago. It’s inflate or die, and the only way to inflate is to create more money supply.”
Read full post here: https://dinarchronicles.com/2024/06/24/restored-republic-via-a-gcr-update-as-of-june-24-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat Article: "Kurdistan Federation: Legislating the oil and gas law will resolve the disputes between Baghdad and Erbil" ...There it is again in articles. Do we need the Oil and Gas law referendum passed prior to the Reinstatement? We were told we do. Let’s see what happens.
6-23-2024 Intel Guru Frank26 [Iraq boots-on-the-ground report] FIREFLY:
The television is showing the new 35 white paper report from the IBBC is on our de-dollarization...Our country has removed foreign currencies they tell us...De-dollarization has been successful. We don't use any other currencies except the Iraqi dinar. They are very pleased with what the Iraqi dinar is about to go through.
MARKETS A LOOK AHEAD: A GREAT FALL...
Greg Mannarino: 6-23-2024
‘The Collapse Of Our Entire Financial System’: MASSIVE G7 Decision Marks The End
Atlantis Report: 6-23-2024
For many years, the G7 summit has been a symbol of international cooperation, uniting the world's most powerful economies to address important global issues. These annual meetings have allowed leaders to have productive discussions and develop joint strategies, from economic policies to nuclear weapons. However, the recent G7 summit signals a significant shift that will profoundly impact the global financial system.
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Chats and Rumors, Economics Dinar Recaps 20 Chats and Rumors, Economics Dinar Recaps 20
If The Grid Fails, Will Currency Work? | Rafi Farber
Liberty and Finance: 6-22-2024
As the war in Israel is getting worse, Rafi Farber discusses how he's preparing. He is now grappling with the risk of the electrical grid failing and social unrest increasing.
While these risks may seem remote to those who live in the U.S., he discusses how these risks are everywhere.
Basic use of credit cards or ATMs could be halted by a grid down scenario.
"This is why I have silver in my house," says Farber.
If The Grid Fails, Will Currency Work? | Rafi Farber
Liberty and Finance: 6-22-2024
As the war in Israel is getting worse, Rafi Farber discusses how he's preparing. He is now grappling with the risk of the electrical grid failing and social unrest increasing.
While these risks may seem remote to those who live in the U.S., he discusses how these risks are everywhere.
Basic use of credit cards or ATMs could be halted by a grid down scenario.
"This is why I have silver in my house," says Farber.
Read More
