More News, Rumors and Opinions Monday Afternoon 5-6-2024
TNT:
Tishwash: Iran calls for the use of national currencies in economic exchanges with Iraq
Iranian First Vice President Muhammad Mokhber received, on Monday, Iraqi Trade Minister Atheer Daoud Salman al-Ghurairi.
According to Iranian agencies, during the meeting, an informant said that the achievements and successes of the Iraqi government and people have always been of special importance to the Islamic Republic of Iran, expressing his hope that we will witness, day after day, the achievement of more successes and prosperity for the peoples of the two countries.
Mukhbar considered that facilitating cooperation between the private sector in the two countries is the basis for developing economic relations between Iran and Iraq, and added: The Iranian private sector has a great motivation to work in Iraq, due to the friendly relations between the two countries and the presence of the holy shrines.
He called for the Joint Cooperation Committee to identify obstacles to the development of trade relations between the two countries, and to take the necessary steps to resolve them.
Mukhbar also stressed the necessity of using national currencies in economic exchanges, pointing out that the friendly, deep and historical relations between the two countries require the use of national currencies in commercial and economic exchanges, instead of using the currency of a third country. link
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Article: "Specialist: Floating the dinar is economic suicide" Them bringing up exchange regimes obviously...they're going to do something because why talk about it if it's not going to change. You don't.
Frank26 there's no set date for this to happen. That's just the way it is. I'm sorry if you can't tolerate that, you should move on. But if you can tolerate what a speculative investment brings into you your life then you understand, oh my gosh...[Saleh] just told the Iraqis the Iraqi citizens that the exchange rate for our currency it's almost reached the official rate and once it does we're calling upon it to float...
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BRICS should be ready for dollar collapse – Russian IMF rep
4/5/24 – Azərbaycan24
The international group could create an alternative currency based on their national legal tenders, according to Alexey Mozhin.
The BRICS group of nations could offer an alternative currency in the event of a collapse of the dollar and the international monetary system, according to Russia’s executive director at the International Monetary Fund, Alexey Mozhin.
In an interview with RIA Novosti published on Friday, the expert noted that the shortcomings of the current financial system are becoming more apparent and that many publications have started to mention BRICS “in the context of the fact that this association can offer an alternative.”
Mozhin explained that it is possible for the economic bloc’s member countries to create a currency that would be “built on a basket of currencies of the five member countries,” which would include the Chinese yuan, Indian rupee, Russian ruble, Brazilian real, and the South African rand.
“Such a proposal is being discussed. In the event of the collapse of the dollar and the international monetary system, it will be necessary to turn the said BRICS accounting unit into a real currency, backed by exchange goods,” the director told the outlet.
Earlier this year, during a meeting of BRICS finance ministers and heads of central banks, representatives of its member states expressed support for moving away from the dollar and for trading in national currencies instead.
Russia’s Deputy Minister of Finance, Ivan Chebeskov, said at the time that “most countries said that payments in national currencies are what the BRICS countries need. We are already a large BRICS family, consisting of ten countries. Most countries supported the need to build new payment mechanisms and shared their experience developing central bank digital currencies, building new platforms, and participating in pilots of various platforms.”
Chebeskov surmised that the majority of the participants of February’s BRICS forum supported boosting bilateral trade and strengthening economic ties by moving to independent settlement mechanisms in national currencies.
The global trend towards de-dollarization comes after Russia was cut off from the Western financial system following the outbreak of the Ukraine conflict in 2022. Additionally, financial experts have raised concerns that the seizure of Russia’s foreign assets, and Western plans to confiscate these, could further spur the trend. (RT)
Source: Azərbaycan24
https://dinarchronicles.com/2024/05/05/brics-should-be-ready-for-the-collapse-of-the-us-dollar/
LIVE! Did You Miss It? The NEXT PHASE Of CURRENCY DEVALUATION HAS ALREADY BEGUN!
Greg Mannarino: 5-6-2024
On The Verge Of Collapse; This Was 100% Predictable | John Rubino
Liberty and Finance: 5-6-2024
Precious metals have increased substantially this year and are signaling that the public is losing confidence in the financial system.
John Rubino says, "This was predictable from day-1 back in 1971 when we got rid of the last vestiges of the gold-standard."
Governments, institutions, and individuals are drowning in debt. This debt-based system is destroying the financial system and even the moral fabric of society as bankruptcy and debt cancellation become the only options.
"I don't have the slightest idea how this plays out exactly." However, he notes there are actionable steps people can take today to be more prepared for crisis.
INTERVIEW TIMELINE:
0:00 Intro
1:31 Job's numbers
4:00 Stock bear market
6:55 Fed policy during downturn
8:58 Debt situation
16:57 Japan's debt bubble
21:19 Fear trade in gold
28:37 Fighting against authoritarianism