Dinar Recaps Blog Page — Dinar Recaps (2024)

Iraqi Dinar Video Update Late Monday Evening 6-3-24

Iraqi Dinar Massive Exchange Rate – 3:21

Central Bank Of Iraq Fixed IQD New Exchange Rate – 3:43

Iraqi Dinar Chase Bank Announced IQD New Rate – 4:22

This Is Good News For IQD Holder's – 6:40

Iraqi Dinar Huge Revaluation 2024 – 6:16

Iraqi Dinar Massive Exchange Rate – 3:21

https://www.youtube.com/watch?v=saSox36x5mY

Central Bank Of Iraq Fixed IQD New Exchange Rate – 3:43

https://www.youtube.com/watch?v=LsUfSw2txO8

Iraqi Dinar Chase Bank Announced IQD New Rate – 4:22

https://www.youtube.com/watch?v=8eVno_NCRLA

This Is Good News For IQD Holder's – 6:40

https://www.youtube.com/watch?v=0JAwLPq8N_E

Iraqi Dinar Huge Revaluation 2024 – 6:16

https://www.youtube.com/watch?v=GtPIm1YV0Gw

Iraq Economic News and Points To Ponder Monday Evening 6-3-24

Union Of Arab Banks: Iraq Is A Pioneer In Electronic Banking Services

June 3, 2024 Baghdad/Iraq Observer The Union of Arab Banks confirmed today, Monday, that Iraq is a pioneer in electronic banking services, while noting that the Iraqi banking sector is ancient and its role is vital in economic development.

The Secretary-General of the Union of Arab Banks, Wissam Fattouh, said,

“There is deprivation from dealing in the dollar, not sanctions, because sanctions mean inclusion on the sanctions list,” pointing out that

“the effect of deprivation is almost equivalent to sanctions because it is difficult for banks to operate without the dollar currency, which represents... Currency of international trade. Fattouh added,

“The Iraqi banking sector is an ancient sector and has a history, as its total assets amounted to 157.9 billion dollars, and even its deposits amounted to more than 100 billion dollars.”

Therefore, this sector is important and its role is vital in economic development in the heart of the country.”

He stressed “the necessity of applying international standards, especially with regard to the standards and laws in force to combat money laundering and terrorist financing.” He pointed to

“involving the strategy between the Union of Arab Banks and the Association of Iraqi Private Banks, to reach this truly desired goal, and to train and qualify Iraqi cadres in particular.” He pointed out that

“there has been a great partnership between Iraq and the United States of America for decades and trade exchange, especially after Prime Minister Muhammad Shiaa Al-Sudani made the important historical visit to the United States of America.” He noted that

“the biggest role today is how to protect the Iraqi banking sector, and that trade exchange actually takes place through Iraqi banks and not through other banks.” He continued,

"Iraq is very advanced in electronic banking services, and the challenge today facing the Iraqi banking sector remains the challenge of compliance." https://observeriraq.net/اتحاد-المصارف-العربية-العراق-رائد-في-ا/

Declaration Of Function

June 02, 2024 The Central Bank of Iraq announces the opening of contract employment for the position of cash examiner, provided that applicants for these positions are in accordance with the conditions stated later, with the offer that application will be exclusively via the electronic link:

Conditions for submitting the form:

The applicant must be of Iraqi citizenship.

The applicant must not have been convicted of a crime against honor or trust.

The applicant must have completed eighteen years of age and not exceed twenty-five years.

He must have a certificate (preparatory/intermediate). The application will be ignored if it is proven that the applicant holds a certificate higher than the position for which he is applying.

directions:

Submission will be from Sunday, 6/2/2024, until the end of official working hours on Thursday, 6/6/2024.

It is preferable to use the chrome browser when submitting the form.

Important notes:

The applicant for the job will be ignored in the following cases:

Applying for a job outside his governorate.

The application will be ignored if submitted twice by the same person for any reason.

The application will be ignored if there is a difference between the information entered and the information of the attached documents.

Applications that do not meet the conditions listed above will be ignored.

All information provided by you is subject to audits by the relevant authorities.

Note that the applicant will undergo a test to accept the job.

Form link https://shorturl.at/f4E8W https://docs.google.com/forms/d/e/1FAIpQLSdp-ur9sqLJOkrWmGm3KhhoqehJL2cLcrOFSTQ0dgnHgJpWEg/viewform

Form code https://cbi.iq/news/view/2597

Stop Entering The Foreign Currency Buying And Selling Window

June 03, 2024 It was decided to stop the companies whose details are listed in the table below from entering the foreign currency buying and selling window

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[partial and approximate translation of https://cbi.iq/static/uploads/up/file-171741265259795.pdf]

All approved banks

And/stop entering the foreign currency buying and selling window

The details of the suspension of listed companies are provided in the attached table below which begins In sequence (1- Naseem Al-Thalooj General Trading Company) andending in sequence (1171- Company Al-Yaqout General Trading Buildings)» from entering the window for buying and selling foreign currency.

To act accordingly. With appreciation.

[signature] 2024/5/30

[See 7 pages of list of 198 businesses inhttps://cbi.iq/static/uploads/up/file-171741265259795.pdf]

:diamonds: To view the titles and list of companies... click here

https://cbi.iq/static/uploads/up/file-171741265259795.pdf

https://cbi.iq/news/view/2600

Central Bank Of Iraq Strategy: A Strong Boost To The Private Sector And Labor Market

Last updated: June 2, 2024 ndependent/- The Central Bank of Iraq’s bank lending strategy 2024-2029 is an important step towards developing the private sector and stimulating the national labor market.

This strategy aims to increase the credit granted to the private sector and small and medium enterprises, which will contribute to financing new projects in various sectors.

Strategy objectives:

Increasing credit granted to the private sector: The strategy aims to increase credit granted to the private sector by 4% of non-oil GDP by 2029, equivalent to 7 trillion Iraqi dinars.

Supporting small and medium enterprises: The strategy aims to increase the credit granted to small and medium enterprises by 3% of non-oil GDP by 2029, equivalent to 5 trillion Iraqi dinars, which will contribute to financing approximately 100,000 projects.

Improving the business environment: The strategy aims to improve the business environment and attract more local and foreign investors.

Unifying private sector development efforts: The strategy aims to unify private sector development efforts and coordinate them among concerned parties.

The importance of the strategy:

Creating job opportunities: The strategy contributes to creating new job opportunities for Iraqi youth.

Developing the productive and service sectors: The strategy contributes to the development of the productive and service sectors in Iraq.

Stimulating economic growth: The strategy contributes to stimulating economic growth and enhancing financial stability.

Everyone's responsibility:

Financial experts and specialists stress the importance of the combined efforts of all stakeholders for the success of this strategy.

The government, banks, investors, and Iraqi youth must work together to achieve the goals of this strategy and create a better future for Iraq. https://mustaqila.com/ستراتيجية-البنك-المركزي-العراقي-دفعة/

Growth Rate Of Bank Accounts In Iraq

June 02, 2024

The Central Bank of Iraq announced the growth rates of bank accounts for the past years, starting from the year 2018 and ending in the year 2023, which shows the growth rates during the aforementioned period and according to the attached chart. https://cbi.iq/news/view/2599

Central Bank of Iraq information Office June 2, 2024

Growth rate of bank accounts in Iraq Clip_image004 https://cbi.iq/static/uploads/up/file-171732391294036.jpg

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

ProvokingThoughts and Points To Ponder on Advice

Never give advice in a crowd.-Arab proverb

Never give advice unless asked.-German proverb

Whatever advice you give, be short.-Horace

Old men are fond of giving good advice, to console themselves for being no longer in a position to give bad examples.-La Rochefoucauld

We give advice, but we do not inspire conduct.-La Rochefoucauld

Good counsel has no price.-Guiseppe Mazzini

Never advise anyone to go to war or to marry.-Spanish proverb

Many receive advice, only the wise profit by it.-Syrus

Admonish your friends privately, but praise them openly.-Syrus

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

http://famousquotesandauthors.com/quotes_by_topic.html

Monday 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: Hey Mark and family...so good to see you!

Member: Yaaay …I hear Iraq passed their budget….Come on new rate!!!!

Member: news is awesome today…. rate change around the corner!!

Member: TNT says banks screens are showing $.36 cents on the bolivar

MZ: We are seeing some crazy things. A few of my banking contacts saw the same. Indonisia is popping up at about $1.36….they were showing a little over $4 for the dinar….over $3 for the dong….we are seeing some crazy stuff

MZ: Also seeing crazy prices for bond folks. Some Buyers are looking for German bonds right now-they are in demand

MZ: Also some bond folks that had appointments scheduled last week…were moved to today and tomorrow. And I still have 1 or 2 contacts that have disappeared- goes straight to voicemail….I am hoping they got paid ….but don’t know.

Member: Lets hope they are out celebrating getting paid for sure……and under NDA’s.

MZ: My bond folks very much believe this is their week!. Finally. But have not heard anybody have gotten dollars yet. But I am watching it.

Member: Have any groups been paid yet?

MZ: I do not think so….but they are positioned and ready for them to go

Member: I feel like it all goes together EBs, rv, GCR we get our currency exchanged then swapped to gold backed currency of native countries.. then it’s equal one to one anywhere

MZ: I have been unable to find a complete copy of Iraq’s budget that was passed to look fof a rate. I do not think the new rate is in the budget that was passed today…..yet. They have the mechanism for changing the rate in there though. So they can do that rate change at anytime.

MZ: They are still showing the official rate of 1310…..It happened like this in Kuwait also….that although they had started the RV process. Kuwait was still showing the official rate for awhile.

MZ: Sudani said in an article that this will be a time of abundance for the Iraqi people….

Member: Maybe they are waiting to put the new rate in the Gazette- either Wed or Sat?

MZ: That is very possible.

Member: Thank you mods for helping out MarkZ every single pods cast …much appreciated!!

Member: Let’s all say that June is going to be our month…..and believe it.

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

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=eDa_r65HcwA

Iraqi Dinar Today Video Update Monday Afternoon 6-3-24

Chase Bank Manager Said The Iraqi Dinar Will Be At The New Rate – 3:15

It had been Finally Announced – 3:43

Powerful Float Iraqi Budget Update – 3:51

Congratulation Wells Fargo Bank IQD Big Exchange Rate Great At $5.10 US Dollar – 4:08

Central Bank Of Iraq Realsed $4 To $5 – 5:38

Chase Bank Manager Said The Iraqi Dinar Will Be At The New Rate – 3:15

https://www.youtube.com/watch?v=BVfy71djRCE

It had been Finally Announced – 3:43

https://www.youtube.com/watch?v=8YnlJYBs564

Powerful Float Iraqi Budget Update – 3:51

https://www.youtube.com/watch?v=a0jt_ylu8_c

Congratulation Wells Fargo Bank IQD Big Exchange Rate Great At $5.10 US Dollar – 4:08

https://www.youtube.com/watch?v=R4nGI75HVqU

Central Bank Of Iraq Realsed $4 To $5 – 5:38

https://www.youtube.com/watch?v=VwIVuE7K2eE

In This Article:

• Japan’s Record Yen Intervention

• Persistent Weakness of the Yen

• Potential Global Currency Crisis

• Expert Predictions on Future Interventions

The global fiat currency system faces unprecedented challenges, and signs of an accelerating collapse are becoming increasingly evident.

Central banks worldwide are grappling with inflation, volatile markets, and economic instability. Among these currencies, the Japanese yen stands on the brink of a historic downfall.

As the first major fiat currency to face a potential collapse, the yen’s struggles could mark the beginning of a broader crisis, signaling the final phase of the global fiat currency debt system’s demise.

The intervention, focused on April 29 and May 1, exceeded estimates of ¥9.4 trillion. Despite this massive expenditure, the yen’s value remains critically low. The yen’s rapid decline forced Japan to take drastic measures, highlighting the severe instability of the currency.

THIS CHART SHOWS HOW JAPAN’S MASSIVE YEN INTERVENTION IN EARLY MAY (GREEN ARROW) HAS COMPLETELY FAILED OVER THE PAST 30 DAYS (RED ARROW).

This continued decline indicates the diminishing power of such interventions. Factors like the strong U.S. economy and delayed Federal Reserve rate cuts contribute to the yen’s persistent weakness.

The currency’s instability poses a serious risk to Japan’s economic health.

As the yen struggles, speculators may push it further down, testing the Bank of Japan’s (BOJ) limits. This situation could trigger a significant currency crisis, affecting global markets and economic stability.

Finance Minister Shunichi Suzuki has issued warnings of further interventions to counter excessive volatility. With the yen trading around 157.235 per dollar, the effectiveness of additional interventions remains uncertain.

Analysts, including Mizuho Securities’ Masafumi Yamamoto, suggest that Japan might intervene again if the yen experiences sharp declines. The potential for further interventions raises concerns about the yen’s long-term stability.

As global economic pressures mount, the yen’s decline could signify a broader crisis in the fiat currency system.

Japan may continue its intervention efforts, but the long-term outlook for the yen remains bleak, marking the onset of a significant currency crisis. The global economy must prepare for the repercussions of this instability.

Supporting Article:https://www.markets.com/news/japanese-yen-weakness-persists-despite-dollar62bn-intervention/

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Join my Telegram Channel to comment and ask questions here:GCR_RealTimeNews

Follow me on Twitter:@Real_AwakeIn3D

Gold Price at $27,533 is Not Some Random Guess Says Currency Wars’ Jim Rickards

Daniela Cambone: 6-3-2024

“If you have to go back to a gold standard, yeah, $27,000 would have to be the [gold] price in order to avoid massive deflation,” says Jim Richards, New York Times bestselling author.

He explains to Daniela Cambone that it’s “more likely” we will return to the gold standard as people lose confidence in fiat currency.

Moreover, as the money supply skyrockets while the supply of gold remains the same, the price of gold is propped up. He also states the danger when Russia reiterates the West by suing Euroclear, the largest clearing, settlement, and custody organization in Europe.

CHAPTERS

00:00 Going back to gold standard

4:18 Likely of going back to gold standard

https://www.youtube.com/watch?v=t49iE4BaVs4

KTFA:

Clare: Parliament votes on the 2024 budget schedules

6/3/2024

The Iraqi Parliament voted today, Monday, on the budget schedules for the current year, 2024.

The hours before the vote witnessed controversy within the Parliamentary Finance Committee, as votes were taken twice on the budget tables due to disagreements.

And earlier; Member of the Parliamentary Finance Committee, Saad Al-Tobi, confirmed that the committee voted on the federal budget schedules for the year 2024 without making changes to them, indicating that two trillion dinars had been allocated for transfer between the exchange doors. LINK

DeepWoodz: We have a quorum and a vote. Confirmation that they are all ready to spend spend spend.

Clare: Al-Mandalawi after voting on the budget tables: Parliament will follow up on disbursing the specified financial amounts

6/3/2024

The Acting Speaker of the House of Representatives, Mr. Mohsen Al-Mandalawi, congratulated the approval of the federal general budget schedules for the current year, stressing that the presidency made great efforts with the Parliamentary Finance Committee to expedite its completion and vote on it during the current legislative term, due to its importance in terms of its direct connection to the lives of citizens and its relevance. The document includes strategic, investment and service projects.

Al-Mandalawi said after the end of the voting session on the budget schedules: The House of Representatives will continue to exercise its oversight role to follow up on the disbursem*nt of financial sums according to the specified schedules, and will not allow the people’s money to be lost or wasted, while he expressed his support for the government to continue implementing its reform and service program, and to complete the process of construction, progress, and achieving what is achieved. Dear citizens look forward to it.

The Acting Speaker of the House of Representatives appreciated the great role of the presidency and members of the Parliamentary Finance Committee in discussing and completing the federal general budget schedules for the year 2024, while expressing his thanks to the ladies and gentlemen of the House of Representatives for their valuable suggestions and their keenness to attend and vote on the budget schedules. LINK

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Clare: The Central Bank of Iraq stops 200 companies from dealing in dollars

6/3/2024

Baghdad

Documents issued by the Central Bank of Iraq, obtained by “Baghdad Today”, today, Monday (June 3, 2024), showed a decision to stop 200 exchange and general trading companies from entering the currency auction without explaining the reasons.

To view the list of suspended companies,click here. LINK

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Clare: After approving the budget... Al-Sudani sends a message

6/3/2024

Prime Minister Muhammad Shiaa Al-Sudani blessed, today, Monday, what he described as the “responsible step” of the House of Representatives, represented in approving the 2024 budget schedules.

Al-Sudani expressed his thanks and appreciation for the efforts of the Presidency of the House of Representatives, the political forces, the parliamentary committees, and the Finance Committee, Which completed the government effort, and what had previously been approved by the Council of Ministers, represented by the budget schedules (A, B, C, D, E, F).

Al-Sudani reiterated his emphasis on "continuing to implement the government program, which received the vote of the House of Representatives and the support of the political forces, in order to complete the goals and implement the priorities that represent, above all, the aspirations and demands of our Iraqi people that they wish the government to fulfill."

The Prime Minister called on the House of Representatives and the provincial councils to "strengthen the government's work by following up on the legislative and oversight efforts, which our government institutions, with all their arms and bodies, view as support for their work, a course correction, and a guarantee against corruption, deviation, and failure." LINK

Clare: The Sudanese financial advisor reveals the date of the government’s implementation of the budget schedules

6/3/2024

A financial advisor to Prime Minister Mazhar Muhammad Saleh revealed the date for the government’s implementation of the financial budget schedules for 2024 approved by the House of Representatives today, Monday.

Mazhar Muhammad Saleh told {Al-Furat News} agency, “Based on the effective constitutional path in issuing legislation, the start of the official implementation of the federal general budget schedules must be accompanied by its approval by the House of Representatives, based on the provisions of Article 77/Second of the Federal General Budget Law No. 13.” For the year 2023 (the tripartite budget), if that approval in the House of Representatives takes the form of (the law) or the form of the amendment to Law No. 13 of 2023 referred to above,

Then those amendments to the original law or the wording of the tables as a new law must in all cases be approved by chance.

The President of the Republic, and then it will be published in the Official Gazette so that the legal procedures can complete all their prescribed paths.”

He pointed out, "After that, the implementation or application phase begins immediately unless there are instructions for implementing the federal general budget schedules for the year 2024, which may be issued by joint instructions between the Ministries of Finance and Planning."

Saleh continued, "Despite this, the important aspect remains that the budget tables for the year 2024 are approved by the legislative authority and are accepted by legislators in the House of Representatives, and then the financial table for the year 2024 is issued and approved under any form of legislation in force, whether issued by a new law or a legislative decision." .

Ragheed LINK

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Margarita: Soooo maybe when it is published in the gazzette we get the rate change? i mean frank said it is a line item right?

BuckEyeTree: If I remember correctly from the past, the Gazette is published on Wednesdays and Saturdays in Iraq. Frank is to have next UB2B on Wednesday.

Maybe that is just a coincidence, unless Frank needs to do a short sooner. You never how quickly things may happen in a good way with Sudani at the helm.

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Clare: Parliamentary Finance for Nina: We approved the budget schedules as received from the government, except for the governorate allocations.

6/3/2024

The Parliamentary Finance Committee announced that the schedules of the general budget law will be passed as soon as a quorum is reached in the House of Representatives session scheduled to be held this evening, Monday.

The Vice Chairman of the Committee, Ahmed Mazhar al-Jubouri, stated in a statement to the National Iraqi News Agency (NINA) that “the Parliamentary Finance Committee met yesterday in the presence of most of its members,” 17 members representing the “Progress, Determination, Sovereignty, and Kurdish blocs,” and representatives of the coordination framework for the Asaib, Badr, and Sindh + 2 blocs in Hajj. The rest did not come."

He explained, “The committee voted absolutely on the general budget schedules after adding 2 trillion dinars to the governorates to be distributed according to population proportions.”

He added, "The tables have been completed and we have submitted the final version to the Presidency of the House of Representatives for a vote on it in today's session, Monday," noting that "Article 77 of the General Budget Law stipulates that the House of Representatives only approves the tables, and there is no so-called technical report for the committee on the general budget tables, other than "It's a novelty."

He continued to say, “The parliamentary committee, in agreement with the government, obligated the government to transfer an amount of two trillion dinars, and it is the one that determines the doors for the transfer” to the government, “and after the allocations to the governorates were 1.5 trillion dinars now, it has become 3.5 trillion dinars, which will be distributed according to the population proportions of the governorates.”

We continued: "We voted on the tables as sent by the government. We only addressed the problem of governorate allocations, but the rest of the paragraphs proceeded as they were received from the government."

Al-Jubouri confirmed, “The Finance Committee has completed its work technically, and will present the budget tables to the House of Representatives to vote on them or not,” noting that “the budget tables will be passed as soon as a quorum is reached within the House of Representatives session, and there is no new meeting of the committee related to voting on the budget tables.” LINK

Goldilocks' Comments and Global Economic News Monday Afternoon 6-3-24

Good Evening Dinar Recaps,

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"It was decided to stop the companies whose details are listed in the table below from entering the foreign currency buying and selling window"

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READ HERE

file-171741265259795.pdf

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A financial storm is coming that governments cannot fight |Finance Yahoo

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Aeroponic Farming in India: Simplest and Best Guide Ever |Times of Agriculture

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Ahmed AlKiswani, Qatar Financial Services Sector Leader, PwC Middle East commented: “Qatar is strategically positioning itself asa leading FinTech hub in the Middle East and a pioneer in digital transformation and sustainability within the financial services sector. |PwC

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‘Hundreds of Trillions’– Sergey Nazarov Says 2024 Is Year Crypto and Global Financial System Merge -The Daily Hodl

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Here’s Everything You Need To Know About Banking-as-a-Service |Inc42

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Currently, we are witnessing the merging of the new digital economy backed by gold. It is a Gold Standard formulated through Digital Protocols.

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VaultChain Gold |Kitco

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LAST WARNING: China Is Ready to Reveal the ENDGAME & Gold Prices Will Soar - Alasdair Macleod |Youtube

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In 1912, American financier and investment banker J.P. Morgan said, “Gold is money.Everything else is credit” during his testimony before Congress.

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"Recently, the U.S. Federal Reserve received multiple suggestions regarding the use ofXRPin apublic questionnaire aboutCBDCs, prompting speculation about the potential integration of this cryptocurrency into the Federal Reserve’s operations." |The Crypto Basic

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Gold Will Soon Displace The US Dollar, And Americans Are Missing Out

Notes From the Field By James Hickman (Simon Black) June 3 2024

Next month will mark 80 years since the US dollar was formally anointed as the world’s reserve currency.

It was July 1944. And with the war in Europe near its denouement, governments were already trying to plan what the postwar world would look like. Most urgently, they needed to figure out how to rebuild their devastated economies.

Just think about the mess they were in: nearly every industrialized country in Europe had been destroyed by war. Manufacturing and farming were both in the dumps, and they had very little savings to invest in economic revival.

They also had a gigantic mess when it came to international trade. Dozens of countries each had their own currencies, so commercial trade meant each government keeping 20-30 currencies in reserve.

France, for example, would have to hold Austrian schillings, British pounds, Spanish pesetas, Italian lira, Dutch guilders, Soviet rubles, etc. in reserve, just to be able to trade.

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A much, much simpler solution was for every country to use the same currency to trade with each other. And there was no question about which currency would be the right choice: the US dollar.

In 1944, the United States still had a strong and powerful economy. It had robust capital markets and a well-developed financial system. It was the only country left standing.

So, representatives from more than 40 nations gathered that summer in picturesque Bretton Woods, New Hampshire and formally agreed to use the US dollar for international trade and commerce.

More specifically, each country fixed its exchange rate to the US dollar, while the US dollar was fixed to gold.

It only lasted about thirty years. By the early 1970s, the original Bretton Woods deal had been completely undone. Currencies floated freely against each other (including the dollar), and the US dollar terminated its link with gold.

And yet (thanks in part to Saudi Arabia agreeing to sell oil in dollars), the US dollar has continued to remain the dominant reserve currency through today.

For the most part that was still a sensible bet; the US has been the world’s #1 economy for the past five decades. But the cracks are obvious.

The US federal debt is a national embarrassment. At $35 trillion, the debt is far larger than the entire US economy… and it gets worse every year.

The US government is also completely dysfunctional. The vitriol and enmity, among the parties and within the parties, is so extreme that virtually nothing productive or beneficial ever takes place. The business of government now is merely two sides screaming that the other is a threat to democracy.

The President barely knows where he is half the time, and the other half he spends shredding the Constitution to engage in some anti-capitalist, inflationary, fanatical woke climate agenda.

Sadly, this isn’t a one-time blip. America’s governance and finances have been deteriorating for most of this century-- starting with the endlessly expensive War on Terror, through the free-spending Obama years, to the pandemic… and now the very real prospect that the next four years could look very similar to the previous four years.

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America is supposed to be a reliable, stabilizing force in the world. But today’s America has lost its grip. And foreign nations have noticed.

Most people alive today don’t remember a world in which the dollar wasn’t #1 and therefore cannot fathom a world in which this is no longer the case. But it’s irrational to assume that something will continue indefinitely, forever, simply because of the status quo today.

It’s not 1944 anymore. Back then there were no other options… and no one who even came close to rivaling the military and economic superiority of the United States.

Today both of those are in decline. It’s not to say the military can no longer fight or that the economy is in complete shambles. But America no longer has the unrivaled position it enjoyed for so long.

More importantly, the trend isn’t looking good. From an economic perspective, the national debt is set to increase by another $20 trillion over the next decade… likely triggering a nasty run of stagflation like the US experienced in the 1970s.

The US military, meanwhile, continues its downward slide. Recruitment is absolutely abysmal. Key weapons systems, fighter jets, tanks, and naval vessels are borderline obsolete.

The US Navy’s fleet of ships and submarines (which would be critical in any conflict against China) is the oldest and smallest it’s been since the end of World War II. Nearly 1,000 military aircraft will be retired from service in the next five years alone, and there is no concrete plan to replace them.

Nor is there any money to do so.

Frankly it is exceedingly difficult to believe that, in light of America’s declining power and prestige, the rest of the world will continue accepting the US dollar as the global reserve currency for much longer.

We’re already seeing signs of this change; plenty of countries are starting to trade with one another in different currencies, including Chinese renminbi and Indian rupee, and this trend will likely accelerate over the next several years.

I think it’s even possible there could be an event of some sort-- perhaps the US government defaults on its debt, or there’s even a shooting war or cyberattack-- which triggers a new Bretton Woods style conference.

The key difference between now and 1944 is that there was only one option back then-- the US. And pretty much everyone had confidence in America.

That’s not the case today. Few rational people have the same level of confidence in the US government. Yet almost no one trusts the Chinese either.

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But just like 1944, there is an obvious solution… and one that everyone already trusts: gold.

Nearly every country already holds gold as a reserve asset, so there would be very little change to the way they currently do business.

I’ve written about this before-- I believe this is why so many central banks around the world have been on a gold-buying spree. In fact, this is THE reason why gold is near its all-time high: central banks have been buying it by the metric ton.

You have to understand that central banks aren’t speculators. They don’t care about price. They buy for strategic reasons… and I believe that the central bank gold purchases that have been occurring over the past few years are a key sign that the global financial regime will be changing.

Individual investors, meanwhile, have been selling gold.

North American investors have sold off more than $4 billion worth of gold ETFs in the first four months of this year, with $2 billion of that just in the month of April. And gold ETF holdings are now at their lowest level in four years.

Central banks are buying. Individual investors are selling. It seems pretty clear that people aren’t paying attention to the warning signs.

Yes, gold is near its all-time high. But that doesn’t mean it can’t go much higher… especially if there’s a catalyst. And there absolutely is.

As a final point, I would point out again that even while gold is near its all-time high, shares of high quality, profitable, dividend-paying gold miners are laughably cheap.

That’s because central banks only buy physical gold bullion (which has pushed up the price of gold). They do not buy gold stocks… hence many of these businesses are available for outrageous bargains.

To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/gold-will-soon-displace-the-us-dollar-and-americans-are-missing-out-151007/

Iraqi Dinar Today Video Update Monday AM 6-3-24

Back to Back Rate $3.22 – 5:06

Iraqi Dinar Exchange Rates on the Rise! – 2:02

WOW Its come Back , Every Dinar $6.44 US Dollar – 3:42

Vetnamese Dong Latest Exchange Rate – 3:35

Officiate Announcement By President Joe Biden to All VND & Iraqi Dinar Rate Revalue – 3:09

Back to Back Rate $3.22 – 5:06

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

Iraqi Dinar Exchange Rates on the Rise! – 2:02

https://www.youtube.com/watch?v=B4n_tNHzcvY

WOW Its come Back , Every Dinar $6.44 US Dollar – 3:42

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

Vetnamese Dong Latest Exchange Rate – 3:35

https://www.youtube.com/watch?v=_I2tRgX2nSE

Officiate Announcement By President Joe Biden to All VND & Iraqi Dinar Rate Revalue – 3:09

https://www.youtube.com/watch?v=D_n5Nw8DHLI

This legislative trend underscores a profound skepticism towards the stability of the fiat currency system and a proactive approach to safeguarding economic stability.

By embracing sound money principles and constitutional directives, these states are positioning themselves to withstand potential financial upheavals and protect their citizens’ wealth.

In This Article

• Louisiana’s New Legislation on Gold and Silver

• Constitutional Foundation for Sound Money

• Growing Trend Against Fiat Currency and CBDCs

• Implications for the Future of State Economies

Louisiana has made a significant legislative move as Governor Jeff Landry signed a new law on May 31, 2024, reaffirming gold and silver as legal tender.

This action reflects a broader state-level trend anticipating a collapse of the fiat currency system.

The bill enjoyed overwhelming support, receiving only one dissenting vote in the Louisiana House and Senate.

This principle, rooted in the nation’s founding document, highlights the enduring importance of sound money policies.

These states have taken steps to eliminate sales and capital gains taxes on precious metals and empower state treasurers to invest in gold and silver. This movement underscores a deepening distrust in the stability of the fiat currency system.

The Federal Reserve note “dollar” has lost purchasing power, leading to inflation and economic instability. By reaffirming gold and silver as legal tender, states like Louisiana are proactively protecting their citizens’ wealth and preparing for a potential collapse of the fiat currency system.

This legislative trend suggests a broader shift towards economic self-reliance and stability at the state level, highlighting a growing recognition of the need for sound money policies.

As more states join this movement, it signals increasing skepticism about the long-term viability of the fiat currency system and a proactive approach to ensuring financial stability.

By embracing precious metals and rejecting CBDCs, states are positioning themselves to safeguard their economies and citizens against the potential collapse of the fiat currency debt system.

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