News, Rumors and Opinions Tuesday AM 11-26-2024
RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 26 Nov. 2024
Compiled Tues. 26 Nov. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Sat. 23 Nov. 2024: A very credible source said that the RV would occur prior to or around Thanksgiving.
Sat. 23 Nov. 2024 Wolverine: “We are definitely going to have a good Christmas. Just letting you know that I’m now under NDA. I cannot talk right now so I cannot hurt the process. Please respect my NDA guys. We are now definitely close.”
Read full post here: https://dinarchronicles.com/2024/11/26/restored-republic-via-a-gcr-update-as-of-november-26-2024/
DJ: DID YOU KNOW?
Nov 24th Post 2024 (End of Fractional Banking)
If the GCR was to happen now or in the near future, it can be assumed that, in some fashion, we would have to utilize the current banking system. So I looked at how much banks make and how they make it. Looking at Wells Fargo, Bank of America (BofA) and J.P. Morgan Chase.
In 2023 Chase had $134.4 Billion in revenue with a net of $48.3 Billion. Wells Fargo had $89.4 B in revenue with a net of $19.1 B. B of A had $96.5 B in revenue with a $26.5 B net. In 2019(prior to the pandemic) Chase had $36.4 B net, BofA $27.4 B net and Wells Fargo $19.6 B net.
Banks primarily generate money through several activities:Interest Income: Banks lend out customer deposits in the form of loans, charging interest. They earn by maintaining a gap between the interest paid on deposits and the interest charged on loans.Fees: Banks charge fees for services like account maintenance, overdrafts, wire transfers, and credit card usage. Investments: They invest in financial instruments such as bonds, equities, or real estate. Trading & Advisory: Larger banks earn from trading securities and offering financial advisory services.
What I didn’t know was in March 2020, the Federal Reserve eliminated reserve requirements for banks. (Don’t know how this conflicts with Basel 3.5) This effectively ended the traditional practice of maintaining a minimum reserve percentage or Fractional Reserve Banking. With Fractional Reserve Banking , banks were required to reserve a portion of deposits for every dollar they loaned .With a $100 deposit the bank could loan out $90. Now, with no reserve amount required, the banks can loan out all of its deposits. Keep in mind when I say “deposit”, that’s your money they are loaning out.
From March 2022 to July 2023, the Fed increased rates 11 times, raising the federal funds rate from near zero to 5.25–5.50%—the fastest pace of hikes in decades. The question is, how come the banks’ net profit increased substantially during and after the pandemic? Theoretically raising interest rates curbs inflation.
But the banks made more money with the higher rates? It’s called Increased Net Interest Margin (NIM). Banks earn money by lending funds at higher interest rates than they pay on deposits (your money).When the Fed raises rates, the interest banks charge on loans (like mortgages, credit cards, and business loans) typically increases faster than the interest they pay on customer deposits. This widens the NIM, directly boosting profitability. The banks are making a fortune on the suffering of the rest of us. And the Fed is complicit.
All that being said, if the GCR was to happen now, the massive funds deposited into the banks would follow this scenario. The banks would basically have unlimited discretion what they can do with your money. It all points to the need for a new, completely different, financial system for the GCR to engage. Until we see that, we won’t see a GCR.
We all want to go skating but you can’t go ice-skating when the lake isn’t frozen.
DJ
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat ...we are still seeing lots of news from Iraq on educating the citizens in many areas. One biggie is the census... This level of census has NEVER been conducted since the 2003 invasion. Lots has changed since. This census is also part of the Article 140 and the process of determining the shares of the excess oil revenue streams to be divided up to the citizens as part of the Hydrogen Carbon Law (HCL) this is also better know as the Oil and Gas Law. Yes, the GOI does plan to administer oil profit shares to the citizens much like they do in the Saudi and Kuwait. [Post 1 of 2]
Mnt Goat However...you can see that they first must rebuild their economy and infrastructure. Today there is not much remaining of oil revenues after they pay all their bills. The surplus will come once they diversify their economy and these other sources of revenue come pouring in, as we are seeing now to begin...I would not gamble on this HCL triggering the RV, as many...seem to think will happen when they finally pass the Oil and Gas Law. [Post 2 of 2]
Elites And Bank CEO’s In PANIC As Economic Collapse Is Imminent!
Atlantis Report: 11-26-2024
The global economy is standing on the brink, and the warning signs are impossible to ignore. Bank CEOs and economic elites are scrambling to respond as fears of a 2024 and 2025 recession grow louder.
Inflation continues to erode purchasing power, debt is reaching unsustainable levels, and even the job market is showing cracks.
Reports suggest the European Central Bank may implement three rate cuts this year, signaling instability across the eurozone. Meanwhile, in the U.S., declining wage growth and rising unemployment are painting a grim picture for workers.
With first-quarter figures providing only temporary relief, the question remains: Are we prepared for what’s coming?