More News, Rumors and Opinions Sunday Afternoon 6-2-2024
TNT:
Tishwash: Iraq participates in the OPEC+ coalition meeting in Saudi Arabia
Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul-Ghani participates in the OPEC+ alliance meeting, which begins its work in Saudi Arabia today.
Al-Hayani’s media office stated in a statement received by {Al-Furat News}, “The meeting discusses developments in the oil market, a general assessment of OPEC+’s actions over the past, and future expectations. link
MikeCristo8: Petrodollar Ends on June 9th
Sunday, 2 June 2024,
MikeCristo8: The world needs to understand the U.S. Treasury bond market is funded off the world needing dollar reserves aka bank derivatives (off balance sheet dollars).
When the Petrodollar ends on June 9th, there is no need for the world to hold U.S. Treasuries as the global world reserve asset in the oil trade.
The Japanese yen will hyperinflate against their U.S. Treasury holdings.
Japan will be forced to liquidate all their dollars and U.S. treasuries that fund the Gates Foundation,
The Gates Foundation will fold. Melinda Gates leaves the Gates Foundation on Friday June 7th, two days before the petrodollar ends (June 9th). Bill and Melinda Gates knew the petrodollar was going to end.
Coincidence? No? The monetary even is going down NOW!
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Adam Gaertner : Anything concrete re: the 9th?
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MikeCristo8 U.S. Treasury must roll over $10 trillion in bonds, of which they don’t have the money. Saudi is protecting their oil against a collapsing fiat dollar. The Fed isn’t going to print this kind of money.
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Jack Straw June 9th the Agreement between United States and Saudi Arabia to sell Saudi Oil in USD exclusively ends. Saudi Prince has already notified U.S. that this agreement will NOT be renewed and they will no longer accept USD.
Video: https://x.com/i/status/1796618863599370263
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MikeCristo8 It means state banks can link up to M-BRIDGE, bypassing the SWIFT system and interface with the PBoC and the state banks could then potentially hold RMB as reserves.
===>>>>> This would allow China to control the gold price inside the U.S. state banking system!
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MikeCristo8 Does the world want dollar loans backed by nothing, or do they want RMB loans backed by gold?
China just moved in.
https://dinarchronicles.com/2024/06/02/mikecristo8-petrodollar-ends-on-june-9th/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man The totality of the Development Road Project, 1310 is not going to work. They just don't have enough money printed, period. They just don't. We're going to have to see how all that ties in with the budget because one of the things that's still on the table is the Delete The Zeros Project. If that's the case trillions turns into billions quite quickly...If they do what they say they're going to do it becomes far far cheaper.
Tishwash Article: "Iran: Iraq is one of the richest countries in the Middle East" Quote: "...Iraq is considered one of the richest countries in the Middle East, in that it possesses 85 billion dollars in foreign exchange reserves, 130 tons of gold reserves and 147 billion reserves, confirmed from a barrel of crude oil (ranked fourth in the world), explaining that it achieved from selling crude oil an income equivalent to $76 billion in 2021, and $120 billion in 2022."
Deflation ‘Intensifying’, ‘Monumental Rally’ Will ‘Shock People’ | David Rosenberg
David Lin: 6-2-2024
David Rosenberg, Founder and President of Rosenberg Research, discusses the "intensifying" deflationary pressures mounting in the economy, and their impacts on Fed monetary policy, the treasuries market, and equities markets.
0:00 - Intro
1:05 - Rate cuts towards 0%
6:48 - Inflation vs. Deflation
14:00 - Monetary policy errors
24:10 – Treasuries
26:30 - Stock market outlook
35:00 - Labor market and wages
43:00 - Home foreclosures?
45:40 - Asset allocation