coorslite21

But I want to be the moron...😮

Dominica....one of the prettiest Islands in the Caribbean with an inexpensive citizenship by investment program. Years ago AM headed up DV donation event for them after they experienced a major hurricane. Iraqi's as my next door neighbors on any Island? ...not sure I would be comfortable with that. Economic Citizenship in St. Kitts/Nevis is more costly than Dominica......St. Kitts/Nevis doesn't allow Iranians or Afghanis to enroll...they vett applicants very closely....I hear the above mentioned Iraqi's had applied and were rejected by St. Kitts/Nevis due to corruption and money laundering concerns. Value is percieved.....and most times you get what you pay for.... CL

Off label use of Stromectol..(Human Ivermectin) have seen results in stopping Covid almost immediately. Same thing for Hydroxychloroquine... Many clinical studies confirm this. CL

Leo Hohmann: With all the Talk about Russia, China and Iran, Who’s Really Responsible for Destroying the Land We Love? A Thanksgiving Manifesto By Jim Hoft Nov. 22, 2023 12:45 pm Guest post by Leo Hohmann Is it time for a Second American Revolution? And if so, what would it look like? As we celebrate Thanksgiving and near the close of another year, it’s a good time to reassess and also to resolve. It’s only through individual resolve on the part of enough Americans that we will ever get back on the right path. We must resolve to get ourselves and our families on the right path before we can worry too much about a nation that seems destined for self-destruction and marching headlong into a digital slave state. Our rights are given to us by God but we allow men to take them away. That’s how once-free nations become dictatorships. Too much tyranny coming from the top followed up with too much compliance from below. That’s a recipe for the annihilation of a free society. Whether we see ourselves as conservative, liberal or somewhere in between, we are exposed daily to a litany of media voices that would like us to focus our attention on China-Taiwan, Russia-Ukraine, and Israel-Gaza-Iran. This distracts attention away from our own lying, thieving, criminal politicians. We continue to indulge ourselves in the misleading narratives carefully crafted by paid propagandists in the mainstream media. Consider the following: Did the Chinese take away any of our rights after 9/11? Did they write, introduce and quickly pass the USA Patriot Act, which gave the government never-before obtained access to our private lives, pat us down and lecture us on “safety,” without even having to get a proper search warrant? Did the Chinese create the secret FISA court by which our government can sneak around spying on us? Did Vladimir Putin and the Russians take away any of our rights during the recent man-made pandemic? Did the Iranian mullahs open our borders to allow deadly drugs, human traffickers and Islamic sleeper cells to enter the United States illegally? Did the Iranians pass the Refugee Act of 1980, providing a legal framework for people to enter the United States legally from nations that hate us and hate our Judeo-Christian values, thereby setting the stage for future lawmakers like Rep. Ilhan Omar to become members of city councils, state legislatures, even Congress, where they work to take away more God-given rights? Is it the North Koreans who are now mustering all of their resources, calling in all of their favors, in a monumental attempt to disarm Americans and negate the Second Amendment, even as criminals are being let out of jail and crime is rampant? (The latest attempt involves a proposed ban on bulk ammo sales). Did any of the above foreign entities allow the president of the United States to claim for himself, starting in the late 1960s and growing with each administration, unprecedented new “emergency powers” to suspend habeas corpus, detain “dangerous persons” within the United States, censor news media, and prevent international travel? The answer to all of these questions is an emphatic, NO. Our rights were swiped and continue to be taken away by corrupt political prostitutes in Washington and in state Capitols across this great land. If our elections are still legitimate, then we can only assume that these corrupt elected officials are reflective of our own decaying moral principles. Because we allowed them to take away God-given rights after 9/11 and again during a man-made pandemic, the tyrants have been emboldened. They have very detailed plans to finish the job of taking over not just America but every free country left on earth, then merging them into a global technocratic super-state based on mass surveillance and zero respect for dissenting opinions. Let’s resolve this Thanksgiving to reject tyranny and return to the freedom given us by our forefathers who set sail on the Mayflower. They took radical action and trusted God heading into a future fraught with unknowns. They didn’t place their hopes in trying to reform what had become an oppressive system back in their homeland. They started anew. I know many good people who sit around wishing for a “strong leader” to come along and right the ship, returning us to our Constitutional Republic origins, where the people are endowed by their Creator with certain unalienable rights, and the government respects those rights. That’s not going to happen. It’s too late for that. Any political leader who succeeds to rising to the top of the class in today’s toxic, very divided political landscape is likely to be a deceiver. I don’t care if he enters the scene from the right, middle, or left. He will be a supreme deceiver. Not to mention, we already tried the “give it to Mr. Fix It” approach, in 2016. How did that work out? The “strong leader” was met with a stronger system. He called that system the “Swamp” (a cute name for a very serious enemy) and said he would drain it. The swamp crushed him. You see, the evil doers were smart enough to know that, in America, you cannot take over the country with a single tyrant. You must embed the tyranny throughout the federal bureaucratic system and spread it through monetary incentives to the states and localities. It ends up like a web that extends its tentacles into every nook and cranny of an expanding, sprawling administrative state. Even the major corporations are brought on board through public-private partnerships (PPPs). They have systematized the tyranny. Barack Obama was expert at this. In my book, Stealth Invasion, I documented an event that almost nobody paid attention to at the time. In April 2015, the Obama administration sponsored a conference titled “The New National Integration Plan: Making the Most of a Historic Opportunity.” They seized on this “opportunity” to transform America and remake it in the image of their godless Marxist leader, Barack Obama. Obama’s domestic policy adviser, Cecilia Muñoz, who was also co-chair of the White House Task Force on New Americans, said her top priority was to make sure Obama’s policies, which were designed to facilitate a borderless one-world system, get “institutionalized” in a way in which they would continue to germinate and dominate all facets of government, long after Obama was gone from the White House. They wanted an America populated with “New Americans.” What does that tell you about their view of us, the existing Americans? They want us gone. And if any of us manage to stick around, their goal is to silence us and remove us from all positions of influence. Teachers. Law enforcers. Healthcare providers. Industrial leaders. Media voices. Church leaders. All must be brought into compliance with their U.N. Agenda 2030 globalist roadmap for a one-world dictatorship, or they will be labeled as enemies of the state and treated as such. Muñoz said Obama hired her for one overarching purpose. It was her job “to make sure we build this really into the DNA across the federal bureaucracy, at a leadership level, but much more importantly to make sure that when political appointees like me are no longer here, this (open-borders policy) is built into what those agencies do and think every day.” They don’t wish to change us. They know die-hard conservatives aren’t going to wake up one day and embrace their destructive globalist agenda. They wish to replace us. Only in this way will they be able to finish the job of fundamentally transforming America, first into a lawless land of chaos and finally into a full-on dictatorship that fits seamlessly into a global system built on transhumanism and technocratic control over all human activity. When tyranny reaches the point where its DNA has been embedded into every government agency, it’s too late to reverse it through normal political methods. At this point, it doesn’t matter who is president or governor. Unless they shut down all of those agencies, they will never be able to make lasting change. By that, I mean, you are not going to reverse the tyranny through elections and through introducing bills in Congress. Sorry, it’s too late for that. The only bills that would matter right now are ones that defund the administrative state and deport all illegal aliens. All else is distraction on the path to our demise. We need a people’s revolution. Since I don’t see a single politician advocating mass deportations and the defunding of nearly every federal agency, starting with the FBI, CIA, Department of Education, EPA, HHS, ATF and IRS, our hopes cannot rest with them. The change needs to come from the bottom, up. Any politician who wants to get on board with our revolution, we will welcome them, but we don’t need them and we certainly won’t count on them. Now, for the big question: What would such a revolution look like? I am not calling for a 1776-type, March on Washington with pitchforks, people’s revolt. Nor do I believe the answer lies in a get-out-in-the-streets peaceful protest. That was tried on January 6, 2021, and how did that work out? Protest rallies won’t work because the globalists expect these to break out in every country and have contingency plans to deal with them. The J6 protests were infiltrated, given the false label of an “insurrection” by the media, and treated accordingly by the corrupt justice system. The system proved it is capable of totally controlling the flow of information in this country. That’s because the same billionaires who own the politicians also own the corporate media and the major social media platforms. And by the way, they also own the U.S. Army, CIA, FBI and all of the three and four-letter agencies. So, what am I calling for? What would actually work? I can tell you, it won’t be popular because it involves hard work. We need a plurality of the population to stand up and take ownership of the problem. We don’t need a majority but we do need a solid 25 percent or so to wake up and realize that this problem is on us. And to reverse course, we need to stop complaining and take action, not holding protest rallies, but by making sacrifices in our daily decisions. Start with where you spend your money and give your attention and then move on to how you make your money. Anyone who can’t muster the will to boycott Disney, Target, Starbucks, ESPN or Netflix is probably not going to have the will to quit working for one of these similar globalist corporations that are destroying our nation. Let me provide just a few examples of cutting off the beast’s money flow at the source. Every time you turn on CBS or ESPN and watch your favorite college or pro football team, you are supporting their evil agenda. The same goes for most of the smut churned out by most of the major Hollywood studios. The annual Macy’s Thanksgiving Day Parade will this year, for the first time, devote a large portion of the festivities to LGBTQ “diversity” propaganda. That makes it evil. The pro-traditional family group Liberty Action Channel sent out an email alert Monday warning that this year’s Macy’s Parade will be a non-binary and transgender extravaganza on full display. The alert states: “Unless they are forewarned about it, this year’s holiday parade will potentially expose tens of millions of viewers at home to the liberal LGBTQ agenda. Performances showcased in the parade will include music from two Broadway musicals, & Juliet and Shucked, both of which feature transgender and non-binary performers in major roles.” Justin David Sullivan, who personally identifies as non-binary, will be featured in the & Juliet parade performance. On stage in the musical, Sullivan plays the role of “May,” a non-binary friend of Juliet. This year, Sullivan declined eligibility for the Tony Awards, saying traditional acting categories need to be reconsidered to become more “inclusive” of gender non-conforming actors. Alex Newell, a biological male who also identifies as non-binary, won a Tony Award this year for his starring performance in Shucked, playing the female role of Lulu. Newell, who uses the pronouns he/she/they, dresses as a woman in public appearances. On Thanksgiving Day, this mind-corrupting, culture-rotting indoctrination will be broadcast live from New York City on NBC, starting at 8:30 a.m. Eastern. As for me and my house, we won’t be tuning in to this once family-friendly holiday tradition. Nor will I ever shop at Macy’s. The Liberty Action Channel concludes: “Shame on Macy’s for promoting and sponsoring this type of entertainment. We still cannot trust Macy’s Dept. Store. It is clear that Macy’s does not have our children’s best interests in mind. Macy’s needs to know that trust must be earned, and once trust is lost, it is difficult to get back.” Here’s another example: Fruit Loops, a cereal owned by the WK Kellogg Co., is now encouraging kids to go online and read their “free digital library” of leftist and globalist brainwashing focused on ED&I, which stands for equity, diversity and inclusion, a nice way of saying, we celebrate everything LGBTQ+. How insidious can you get? Trying to influence kids to believe all sorts of lies about themselves and their country while overdosing on their favorite sugary cereal. The cereal is bad for their bodies and now they have an equally mind-altering poison to accompany it! Does that mean football, cereal box promotions or Thanksgiving Day parades are evil? Heavens no! They used to be wholesome, unifying events that brought us together as a country. Not anymore. Their main purpose now seems to be to indoctrinate and divide. They’ve become tools of the evil one and pathways to destruction. Supporting them supports the system and supporting the system strengthens the evil ones trying to trash our country. So, you mean I have to give up football and Thanksgiving Parades and even read the corporate messaging that comes with my kids’ favorite breakfast food? Yes, if you’re serious about wanting to change the culture. That’s a hard truth, and one that I know a large majority of Americans could never bring themselves to swallow. I get that. But I believe we have a solid 25 percent of America who do grasp the severity and gravity of the situation, who see how the evil ones have infiltrated all of society, even the formerly good portions of society like churches, parades, and football! At least a quarter of our population does not share the evil values of these infiltrators and, if they could wake up and resolve themselves to take action, we could shut these pathways to evil off and rid them from our households. And it’s not just the products or services we patronize that need to be examined under a light of who owns them and what are their values? We work for them. We contract with them. We buy their products. Stop it. Look at it like this. Each and every time you buy a toy, book or film from Disney or Netflix, or buy a jersey from your favorite NFL team, you’re supporting the system that is destroying your country, condemning your family, your children and your children’s children to a future life of lying tyranny. These companies support all of the woke culture rot and lies that are destroying our country from within. And they may succeed. But don’t let them destroy you and yours. So taking back America will require sacrifice and it may not even be doable. But we can take back our families. Take your kids out of the public schools. If they’re in a private school, you’ll have to keep a close eye on what they’re being taught. Home schooling is preferable if you’re able. These will all be sacrifices. But sacrifices alone won’t be enough. It will also take courage – the courage to stare into the face of evil and say “no.” To every edict, every law, every bureaucratic rule, and every slick Madison Avenue advertisement that is trying to influence our behavior in a way that’s antithetical to a free society, we have one word, NO. Anytime you refuse to comply with the values of a rotting culture, you will stick out as a dissident. That often makes you a target. In Soviet Russia, these courageous souls were called refusniks. Reading great literature about the refusniks throughout history will help strengthen and sharpen our skills in this area of being courageous. But even sacrifices and courage won’t be enough. We also need discipline. I’m talking primarily about spiritual discipline. I am guilty of violating this last principle as much as any of you. No matter how busy we may get, we must get back to daily Bible reading and prayer and interaction with the real people in our lives, not the ones strutting around online with a fake persona. Tune them out, and tune into your family, neighbors and friends. You will not regret it later when all of the fakery our society is built upon begins to collapse. When only the real and the authentic are left standing, resolve to be counted among that remnant. This article was not meant to be a how-to manual for saving America. It may actually be too late for that, I don’t know. It was meant simply as a conversation starter to get us into the right frame of mind heading into the new year. So, even if our country continues on the road to a slow collapse, we will not be tied to the system that’s destined to die. We will be outside the gates of the system when the dominoes start to fall. We will be part of the remnant that gets to pick up the pieces and rebuild. I love you all, and wish you and your families a very Happy Thanksgiving! LeoHohmann.com is 100 percent reader supported and not beholden to any corporate or government sponsorships or ads. If you appreciate my work and would like to support it, you may send a donation of any size c/o Leo Hohmann, P.O. Box 291, Newnan, GA 30264, or via credit card here. Dear Reader - The enemies of freedom are choking off the Gateway Pundit from the resources we need to bring you the truth. Since many asked for it, we now have a way for you to support The Gateway Pundit directly - and get ad-reduced access. Plus, there are goodies like a special Gateway Pundit coffee mug for supporters at a higher level. You can see all the options by clicking here - thank you for your support! Submit additional information. Truth Tweet Share Gettr Gab Telegram Jim Hoft Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards. You can email Jim Hoft here, and read more of Jim Hoft's articles here. © 2023 The Gateway Pundit Home About Us Contact Privacy Policy Get Ad Free image.webp

Iranian archeologists hail find of relics built more than 5500 years ago Tourism November 18, 2023 - 22:21 TEHRAN – Archaeologists have unearthed some treasured ruins estimated to date from 4400 BC to 3500 BC. They identified remnants of mills, water supply channels, pottery kilns, and cellars for storing provisions in a site famed as Shahr-e Qumis in northcentral Iran, ISNA reported. Situated near Damghan, an ancient city in Semnan province, Shahr-e (“the City of”) Qumis was allegedly one of the capitals of the Parthian Empire (247 BC – 224 CE). The discovery was made after years of field research after Kourosh Roustaei, a senior Iranian archaeologist, said the history of human settlement in Shahr-e Qumis may go far deeper in time from what previous excavations suggested decades ago. “According to preliminary observations, this pre-historic settlement dates from the second half of the fifth millennium BC to the first half of the fourth millennium BC, which is in accordance with the cultural sequence known for the northeast region of the Iranian plateau…,” said Roustaei who had conducted rounds of survey at the site. “However, since the excavations in all areas of this huge site have not been completed yet, it is likely that evidence for other pre-historic stages to come to light during subsequent rounds of excavations.” His excavations, conducted under the supervision of Iran’s Research Institute of Cultural Heritage and Tourism, aimed to document archaeological remains of the site by means of remote sensing and field observations in order to identify the reasons for the formation of the site as a goal of this multi-year project. “The impact of erosion factors on the site, its ‘water supply system’ and ‘the nature of its settlements during pre-historical times’ will be examined during the following seasons of the study [in Shahr-e Qumis],” Roustaei added. Nowadays, the plain of Shahr-e Qumis is absolutely deserted, but everywhere, one can see the remains of an old city, which was, according to the Greek author Appian of Alexandria, founded by the Seleucid king Seleucus I Nicator, according to Livius.org; a website on ancient history written and maintained since 1996 by the Dutch historian Jona Lendering. The site comprises several ancient mounds. Only a few of them have been properly excavated, and the area between them has mostly been ignored. The field of shards at Shahr-e Qumis measures some 7 by 4 kilometers or 28 square kilometers, which suggests that it must have boasted tens of thousands of inhabitants. Some say that Alexander the Great stopped here in Shahr-e Qumis in the summer of 330 BC and it became part of the Seleucid Empire after his death. Qumis was destroyed by an earthquake in 856 CE, and it was probably abandoned afterward. Damghan lies at an elevation of 1,200 meters just southeast of the Alburz Mountains on a large, barren gravel plain. It is on the road and railway between Tehran and Mashhad. Archaeological excavations at nearby Tepe Hissar reveal occupation from prehistoric times through the Sasanian period (224-651 CE). Damghan was an important town and capital of the medieval province of Qumis but was destroyed by Afghans in 1723. The town trades in pistachios and almonds. AFM LEAVE A COMMENT Name Email Your Message LATEST WHO, Oslo University Hospital contribute to effective treatment of poisonings in Iran Tehran, Islamabad discuss enhancing security along borders Over 900 vulnerable children provided with nutritional care TEDPIX gains 2,100 points on Tuesday TCCIMA board of representatives holds 8th meeting Tehran, Ankara discuss expanding agricultural ties Paykan part ways with Rasoul Khatibi: PGPL Chamber of Guilds, ISIPO ink co-op MOU Iran aiming to boost trade with Pakistan by establishing free zones, trade centers Commodities worth $238m exported from Zanjan province in 7 months 14642 Stanford students refuse to end Gaza sit-in until demands met An Eye for An Eye; and They Know About It! Ex-UN official urges boycotts, sanctions against Tel Aviv Israeli and South African apartheid Desktop version Top About us Membership Contact us Home Society Economy Politics Sports Culture International Multimedia Tourism All Content by Mehr News Agency is licensed under a Creative Commons Attribution 4.0 International License. Developed by: Nastooh Designed by: Pixel Studio

ontact GreekReporter.comAncient GreeceTemple Discovered in Iraq was Dedicated to Alexander the Great Temple Discovered in Iraq was Dedicated to Alexander the Great ByTasos Kokkinidis November 20, 2023 FACEBOOK TWITTER An artist’s impression of how the Iraqi temple looked like. Credit: British Museum Archaeologists uncovered signs that Alexander the Great was worshipped as a divine figure in a 4,000-year-old temple in Iraq. Scientists had been puzzled by the discovery of more recent Greek inscriptions at the ancient Sumerian temple of Girsu, in the modern-day town of Tello. Now, British Museum archaeologists believe a Greek temple to Alexander the Great was founded on the site, possibly by Alexander himself. The discovery of a silver coin minted around 330 BCE by Alexander’s troops suggests that the conqueror may have visited the temple after defeating the Persians. This would make founding the temple one of the last acts of Alexander’s life, shortly before his death at the age of 32. Im The city of Girsu is believed to have been inhabited from 5000 BCE, becoming a sacred city to the Sumerians and the spiritual home of their warrior god, Ningirsu. Credit: British Museum After excavations began in the 19th century, it appeared that a Greek structure may have been built on the site but the only evidence was a mysterious tablet. In both Greek and Aramaic the tablet read: ‘Adad-nadin-aḫḫe’ meaning ‘giver of the two brothers’. What puzzled researchers was that the temple had been abandoned in 1750 BCE, more than 1,000 years before Alexander the Great had even been born. The Greeks of Alexander the Great bult temple on the Iraqi site British Museum archaeologist Dr Sebastien Rey now believes that the Greeks had founded their own temple on the ancient site, potentially to declare the divinity of Alexander. “It is truly mind-blowing. Our discoveries place the later temple in Alexander’s lifetime,” said Dr Rey. “We found offerings, the kinds of offerings that would be given after a battle, figures of soldiers and cavalrymen. “There is a chance, we will never know for certain, that he might have come here, when he returned to Babylon, just before he died,” Dr Rey told The Telegraph. The discovery of the silver coin alongside an altar with offerings usually found in Greek temples implies the site was being used as a place of worship by Alexander’s forces. The offerings included terracotta cavalrymen which were very similar to the ‘Companion Cavalry’ which formed the personal bodyguard of the young conqueror. Offerings were like this terracotta horse. Credit: British Museum The researchers say this could mean that whoever made the offerings was very close to Alexander, or that these were possibly made by the conqueror himself. Meaning of the Greek inscription The discoveries also shed light on the meaning of the cryptic Greek inscription found at the site which referred to the ‘giver of the two brothers’. Alexander the Great had an immense personal interest in the figure of Hercules and had declared himself the Son of Zeus while in Egypt, making him the brother of the mythical hero. Alexander may have asked the Sumerian people who most resembled Hercules within their culture and been directed to the temple of Ningirsu the warrior God. Dr Rey believes that the temple was dedicated to Zeus and the two brothers, a combined figure of Hercules and Ningursu, and Alexander the Great. ‘This site honours Zeus and two divine sons. The sons are Heracles and Alexander. That is what these discoveries suggest,’ says Dr Rey. This theory also suggests that ancient cultures had a deep understanding of their history and a long cultural memory, knowing the exact location of the temple and its use over a millennium after it was abandoned. The city of Girsu was part of Sumer, one of the world’s most ancient civilizations that built the first cities and created the first codes of law. While the site of the city had been badly damaged by 20th-century conflict and destructive excavations by French archaeologists in the 19th-century, remote sensing technology suggested a larger, hidden complex. In the Autumn of 2022, a team of researchers found walls and administrative records of a huge palace and the sanctuary where the Greek temple was later constructed. See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email! TAGS Alexander the Great British Museum Girsu Greek News Iraq Sumerian palace Temple Related Posts Space SpaceX’s Starship Rocket to Launch Friday From Texas Environment Europe on Edge as Volcanic Eruptions Feared in Italy and Iceland Culture Six of the Best Greek Comfort Foods for Cold Days About Privacy Policy Contact Greek Name Days Watch Greek TV Live © Copyright - GreekReporter.com

OH the drama....Frank has a source with a date and a rate....yet it remains his little secret.... pretty pathetic in my mind.. how do people follow fakes like this? CL

JPMorgan Bank has announced its intention to lend $257 million to Iraq. Iraq's Finance Minister, Taif Sami, has signed an agreement with JPMorgan Bank to finance power plant repair projects, aiming to increase electricity generation. The bank has provided $257 million in loans to Iraq, reducing the country's energy shortage. The agreement is expected to positively impact manufacturing, services, and development sectors, boosting investment in Iraqi sectors.

Foreign currency deals bolster Iraqi banks amid no-confidence bid against central bank governor Economy Dana Taib Menmy Iraq 13 November, 2023 ICB recently decided that Iraqi private banks can import foreign currencies via commercial flights. Iraq imports almost 95 of its needs through foreign trade using foreign currencies. [Getty] Iraq's Central Bank (ICB) struck deals with foreign nations to support Iraqi private banks in foreign currencies, coinciding with lawmakers' no-confidence efforts against ICB's governor amid currency pressure from the US dollar. ICB and US officials have reached a deal to strengthen the reserves of 10 Iraqi banks with the US dollar after detailed discussions in Abu Dhabi, the state-run Iraqi News Agency reported on Sunday, 12 November, citing governmental sources within the meetings. "After recent discussions between the Iraqi Central Bank and American representatives, ten banks can now strengthen their reserves in US dollars—five through Citi Bank and five via JP Morgan," INA reported. Iraq imports almost 95 of its needs through foreign trade using foreign currencies. RELATED Iraq to end all dollar cash withdrawals by January 1 2024 MENA The New Arab Staff & Agencies "Furthermore, the number of banks allowed to enhance their reserves in the Chinese Yuan through the Singapore Development Bank will increase to 13 banks. Two banks have already fortified their accounts in Indian Rupees with the Singapore Development Bank," the agency added. It also clarified that several developments have unfolded in banking collaboration between Iraq and other countries; notably, issues with rejected transfers have been resolved. It also revealed a promising mechanism to boost balances in Emirati Dirhams for Iraqi banks is "imminent". ICB also makes serious negotiations to enhance Iraqi bank balances in Euros, and more banks are reinforcing their balances in the Chinese Yuan and Indian Rupees for Iraqi banks, signalling a strategic move to finance imports, especially in pharmaceuticals and food items. ICB recently decided that Iraqi private banks can import foreign currencies via commercial flights, a controversial step that backfired on its governor, as Iraqi lawmakers and legal experts considered it unconstitutional. RELATED Iraq, KRG 'soon to agree' on Kurdish oil production restart Energy Dana Taib Menmy Al-Alaq is facing a parliamentary motion to remove him from his position due to the decreasing value of the Iraqi dinar in exchange for the US dollar in the parallel markets. Since assuming office, economic experts believe that the ICB governor has failed to resolve the devaluation of the ID in exchange for the dollar crisis despite measures taken since his appointment. Iraq's cabinet approved a currency revaluation on 7 February and set the exchange rate at 1,300 dinars per US dollar. The Central Bank of Iraq (CBI) also imposed several measures to boost the dinar and prevent the outflow of US dollars outside the country, especially to Iran and Syria, which are under US sanctions. Despite the official rate of the dinar, a US dollar still sold at around 1,620 in the currency exchange markets. The sharp drop in the dinar's value plunged local markets into further recession, with prices of every essential goods soaring daily. More In News MENA Israeli troops storm Gaza's Al-Shifa hospital The New Arab Staff & Agencies MENA US renews waiver letting Iraq pay Iran for electricity The New Arab Staff & Agencies MENA Yemen's Houthis threaten to attack Israeli ships in Red Sea The New Arab Staff & Agencies © 2023 The New Arab Instagram Facebook Twitter Youtube RSS Developed By

https://new.thecradle.co/articles/baghdad-reveals-new-economic-package-to-further-de-dollarize-trade

Article is 100% correct...if the IQD is worth a tenth of a cent USD.... The change..(pun intended)..comes with the increased value.... Just my thoughts.... CL

Oil Export & Tax Reform An upcoming agreement with the Kurdistan Region and Turkey regarding oil exports is in the works. Iraqi Oil Minister Hayan Abdul Ghani has announced an agreement with the Kurdistan Regional Administration, oil companies, and Ankara to resume oil exports from Iraq to Turkey. The Iraqi Ministry of Oil stated that the first step is to discuss resuming oil production with the Kurdistan Regional Government and companies there. The second phase will involve an agreement with Turkish authorities regarding oil exports via the Turkish-Iraqi pipeline. The cessation of oil exports caused financial damage to Iraq, which has incurred losses of around $5.5 billion. The Tax System Reform Committee discussed the draft value-added tax law, its requirements, and the progress made in the field of electronic connection and electronic billing. The committee was directed to complete technical tax studies and present them to the committee in the next meeting before the end of this month. The meeting is part of the Syrian tax system reform project, which aims to transition towards two basic taxes: the unified income tax and the value-added tax. This shift aims to simplify and clear taxes, reduce tax evasion, and improve tax justice. The committee will also audit the draft legislative instrument and discuss the committee's observations. The next meeting will present the completed studies and discuss the committee's observations. CL

Even though Hamas had early funding from Israel I doubt they are partnering with them on this event. With Egypt joining the BRICS group, the US and the West could be aced out of any future Suez Canal usage sometime in the future..... Just how things seem to work in this dangerous world we live in..... CL

Will The Petrol Yuan Replace The Petrodollar? yes.. in tandem for a while.....gold backed PetroYuan or USD paper backed Petrodollar.... kind of a no-brainer....CL

I mean really....who does this guy think he is... making fun of Hillarious... hang him for treason....😮 CL

Iraq’s New Oil Law Highlights The West’s Fading Middle East Influence By Simon Watkins - Nov 06, 2023, 2:00 PM CST Rather like the man falling from the 20th floor of an office block saying 'So far, so good' when asked how he is doing, so several Iraq oil industry watchers have characterised the inexorable move towards a unified oil law being rolled out across the country. Untroubled though the journey may be, however, the thud at the end of it is likely to mark a stark new reality from which the West is excluded. The journey began back on 25 September 2017 with the non-binding but much-trumpeted vote on independence for the people of the semi-autonomous region of Kurdistan in northern Iraq. In exchange for providing boots on the ground in the fight against Islamic State with their fearsome Peshmerga army, the Iraqi Kurds had quietly been assured by the U.S. and its Western allies that they would finally be granted their full independence from Baghdad, as analysed in full in my new book on the new global oil market order. Great Britain had promised the Kurds the same in 1920 in the 'Treaty of Sèvres'. Just under 93 percent of voters in the semi-autonomous region voted for full independence from Iraq in that September 2017 vote, whereupon Iran and Turkey made sure that they did not get it, by occupying various strategically critical positions across the region, including those in and around its key oil reserves. The key reason why these two countries did not want the Iraqi Kurds to gain their independence was that they have very sizeable Kurdish communities of their own, and they did not want them getting ideas about their own independence either. Russia's broad foreign policy since the foundation of the Soviet Union in 1922 has been to project its own solutions into regions of chaos, and - if that chaos did not already exist - to create it. Given President Vladimir Putin's often-quoted declaration that the subsequent collapse of the Soviet Union was 'the biggest geopolitical catastrophe of the century', it is no surprise that he has extended its broad core foreign policy objective. Back in September 2017 what Russia wanted in the Middle East - to add to the enormous inroads it had already made in neighbouring Iran - was to extend its influence further into Iraq, but it could not do so in the south, as the U.S. still had a major presence there. The next best thing was to establish its own presence in the semi-autonomous region of Kurdistan, until such time as it could use its influence there to extend its scope into southern Iraq and then preside over the unification of the two Iraqi regions into one country over which it could exercise control. The first stage of this was easy enough to accomplish, as the Kurds in northern Iraq no longer trusted the U.S. or the West after their September 2017 vote for independence was ignored. The Kurds also needed money, as the political dispute with southern Iraq meant that no money was going to the Kurdish Regional Government (KRG) in the north from the sale of the region's oil, as had been agreed in a 'budget disbursements for oil sales' deal agreed in 2014. What Russia formally did after the vote in 2017, then, was to effectively take over the semi-autonomous region of Kurdistan's oil sector in its entirety - literally, lock, stock, and barrel. This was done through three mechanisms, as also analysed in full in my new book. First, it provided the KRG with US$1.5 billion in financing through forward oil sales payable in the next three to five years. Second, it took an 80 percent working interest in five potentially major oil blocks in the region together with corollary investment and technical and equipment assistance. And third, it established 60 percent ownership of the vital KRG pipeline through a commitment to invest US$1.8 billion to increase its capacity to one million barrels per day. The second stage of Russia's plan was then to create so much turmoil between the north and the south of Iraq that it would only be a matter of time until the south would no longer tolerate the semi-autonomous region having any autonomy at all, as also analysed in full in the book. Again this was not too difficult and was achieved by the Russians acting as the 'devil in the ear' of the KRG's teams that have tried to negotiate subsequent 'budget disbursements for oil sales' deals to the one originally agreed in 2014. The tactic Russia employed was to encourage the Kurds to ask for increasingly higher payments from the south and, until it received them, to quietly go about selling some of its oil independent from Baghdad - primarily via Turkey, with which Russia has long enjoyed extremely close ties. Happily for Russia - and facts of which was already acutely aware - the issues of firstly, how much the Kurds should receive from the budget and, secondly, if it was legally entitled to sell any of its own oil, were fundamentally unsolvable problems. This meant that Russia itself could enhance its role with both the Kurds and in the north and the official government of Iraq in the south even more by acting as a self-styled 'unbiased arbiter' between the two sides. On the issue of the amount that the Kurds would receive from government in Baghdad, the former thought it should be a lot more than the 17% of the federal budget after sovereign expenses that had been the cornerstone assumption of the 2014 deal. Unsurprisingly, the latter disagreed, and thought it should accord with the percentage share of the Kurdistan population in the overall population of Iraq. This, according to Baghdad, was 12.67 percent. According to the Kurds, it was nearer 26 percent when all population data and requisite extrapolations were made, and in any event they dismissed the demographic notion that lay at the heart of the calculation. In the meantime, the legal basis for the Kurds being able or not to sell oil from their region was, if anything, even less clear. According to the KRG, it has authority under Articles 112 and 115 of the Iraq Constitution to manage oil and gas in the Kurdistan Region extracted from fields that were not in production in 2005 - the year that the Constitution was adopted by referendum. The Federal Government of Iraq argues that under Article 111 of the Constitution, oil and gas are under the ownership of all the people of Iraq in all the regions and governorates as administered through the central government in Baghdad. With chaos and animosity sufficiently kept on the boil, Russia's big break to put into action the third stage of its plan came with the U.S.'s end of combat mission in Iraq in December 2021. Even better for Moscow was that the U.S. seemed happy to dramatically downsize its presence across the entire Middle East, having also unilaterally pulled out of the Joint Comprehensive Plan of Action ('nuclear deal') with Iran in 2018, Syria in 2019 - including protracted internal White House discussions about the catastrophe of pulling out from the strategically crucial Al-Tanf exclusion zone that was the tri-border junction of Syria, Jordan, and Iraq - and Afghanistan in 2021 as well. All the while, Russia's key ally against the U.S. and its own allies - China - had been making inroads into several major Middle Eastern countries, initially through the gift-horse of the 'Belt and Road Initiative', as analysed in full in my new book on the new global oil market order. All of this meant that southern Iraq was inexorably moving into Russia and China's sphere of influence, while northern Kurdish Iraq was increasingly completely isolated. Given all of this, it should not surprise anyone then that on 3 August this year, new Iraq Prime Minister, Mohammed Al-Sudani, clear stated that the new unified oil law - run, in every way that matters, out of Baghdad - will govern all oil and gas production and investments in both Iraq and its autonomous Kurdistan region and will constitute "a strong factor for Iraq's unity". Nor should it surprise anyone that a very high-ranking official from the Kremlin said recently at a meeting with senior government figures from Iran that: "By keeping the West out of energy deals in Iraq - and closer to the new Iran-Saudi axis - the end of Western hegemony in the Middle East will become the decisive chapter in the West's final demise," a senior source who works closely with the European Union's energy security apparatus exclusively told OilPrice.com. By Simon Watkins for Oilprice.com More Top Reads From Oilprice.com: Tesla's €25,000 EV Set For Berlin Production AI Surge To Fuel Precious Metals Demand In 2024 Steel Prices Inch Higher As UAW Strike Ends

Pretty odd that the intelligence agencies of Israel and the US missed the upcoming slaughter of Israelis by Hamas. What is the cause and effect?... Follow the Money! CL https://www.eurasiareview.com/07112023-alternate-suez-canal-the-israeli-ben-gurion-canal-oped/

Hey Caddie.....so glad you finally posted an accurate video description of the Biden Administration and the woke crowd that are progressively destroying the country.......Thanks! CL

Gutsy/Bold/Foolish move by the Biden group to visit Israel in person....he's in a no win situation. The evil axis of the World would love nothing better than to eliminate him in Israel.....making Harris the Commander in Chief, Leader of the free World.... Check out the protection as they move to the car.... Sad times we are in..... CL

Hamas, and that entire ideology, hate the Christians as much of the Jews.... First hand reporting from when she was 10 years old in 1975 till present day. Respected Journalist in the Middle East.....in her own words......

Only in "woke" America! Travis Hunter penalized for unsportsmanlike conduct after praying vs. Stanford - Sports Illustrated Colorado Buffaloes News, Analysis and More https://www.si.com/college/colorado/football/travis-hunter-penalized-for-unsportsmanlike-conduct-after-praying-vs-stanford-

Hopefully not coming to a town near you...! Hamas calls for worldwide ‘mobilization’ against Israel on Oct. 13 - JNS.org https://www.jns.org/hamas-calls-for-worldwide-mobilization-against-israel-on-friday/

Unattainable.... Unsustainable...... CL Sponsored by Financial Sense Wealth Management The Beginning of the End Part III: Green Energy Realities THU, OCT 5, 2023 - 11:49AM By James J. Puplava, CFP®, CTS™, CES™, AIF®, CIS™, CFS™, CAS™, CSS™, FPWM™ President, Founder, Financial Sense® Wealth Management Economies and their growth are fundamentally reliant on energy. Without it, economic growth would simply not be possible. Energy serves as a pivotal input in the production of goods, the cultivation of food, the transportation of these goods, and nearly every facet of economic activity. Over time, technological advancements have empowered humanity to devise more efficient means of generating energy. This progression has spanned from human and animal power, to biomass and fire, wood to coal, coal to oil, and now to renewables. These shifts in energy sources mark significant junctures in history, reconfiguring societies, economies, and the environment. They represent substantial changes in the primary outlets of energy harnessed for diverse purposes. Two notable transitions in the history of energy sources include the move from wood to coal, and subsequently from coal to oil. These transitions not only transformed societal operations but also brought about far-reaching economic, environmental, and geopolitical consequences. We stand at yet another pivotal moment, and I anticipate that the consequences will be nearly as significant. During this phase, we're witnessing the initial steps towards replacing a longstanding and reliable energy source that our modern economy relies on with another. As I've outlined in my previous articles, such a transition is highly unlikely to be smooth in nature. History has demonstrated that it often leads to more frequent booms and busts, heightened inflationary pressures, and economic volatility. Transition from Wood to Coal For millennia, wood was the dominant energy source, employed for cooking, heating, and illumination. However, the 18th century saw a decline in wood supplies due to population growth and extensive forest clearing for agriculture and industry. The advent of the steam engine marked a pivotal stride in transitioning from wood to coal. James Watt's enhancements to the steam engine, alongside the ensuing Industrial Revolution, expedited this shift. Coal-fired steam engines fueled factories, railways for goods transportation, and the production of iron and steel. Coal emerged as a viable alternative to wood in the late 18th century. Coal boasts higher energy density compared to wood, meaning it yields more energy per unit volume. Additionally, coal is more easily transported and stored than wood. This transition, which of course helped to propel the Industrial Revolution forward and led to significant advancements, was also marked by major economic turbulence and societal dislocations. Transition from Coal to Oil In the early 20th century, oil began to challenge coal's dominance. Oil stands as a more versatile fuel than coal, capable of being transported and refined into various products, including gasoline, diesel, and heating oil. The transition to oil gained momentum with the invention of the combustion engine, which helped to increase the demand for oil and refined products. Oil-powered vehicles proved more efficient and adaptable than coal-fired power plants. The discovery of extensive oil reserves in the 19th and 20th centuries, starting in regions like Pennsylvania, Texas, the Middle East, and Russia, supplied the fuel that has driven modern industry and our contemporary high-tech world for the last 70-80 years. These energy transitions brought about both positive and negative consequences. On the one hand, they enhanced the quality of life for much of the global population. For instance, coal-fired stoves and furnaces provided more reliable heating compared to wood-burning alternatives. Oil-powered vehicles offered more convenient and efficient transportation. However, these transitions also gave rise to environmental issues such as increased air and water pollution, health concerns, and, as we see today, calls for radical changes to the regulation of industry. Energy Transitions: A Time-Intensive Process Energy transitions have emerged as pivotal historical moments, shaping our societies, economies, and environments. These shifts are marked by changes in the primary energy sources that power our world. From early wood burning for warmth to the coal-fueled Industrial Revolution, and the subsequent dominance of oil in the 20th and 21st centuries, each transition has wielded profound impacts. It is crucial to grasp that energy transitions are not swift processes. The transition from wood to coal spanned the 18th and 19th centuries, covering approximately 200-300 years. The shift from coal to oil took place over about 50-70 years. These transitions were characterized by phases of gradual adoption followed by periods of accelerated change, especially during peak industrialization. The contemporary transition is presenting unique challenges. It is primarily driven by climate scientists and environmentalists warning of widespread catastrophe if society does not swiftly transition away from fossil fuels within the next decade. This presents significant difficulties and physical limitations, both practically and economically. One significant challenge in achieving a swift transition away from fossil fuels lies in the fact that approximately three-quarters of the global population, encompassing regions like China, India, Africa, and South America, are actively expanding their reliance on fossil fuels rather than phasing them out. While Western industrialized nations are rapidly moving away from conventional, steady sources of power such as nuclear, coal, and gas-fired plants, China and India are in the midst of a substantial upswing in constructing these facilities at staggering rates. As of September 2023, China is currently in the process of constructing 95 gigawatts of coal-fired power plants, a capacity six times greater than the rest of the world combined. India, on the other hand, is working on 27 gigawatts of coal-fired power plants, with an additional 24 gigawatts in pre-construction stages. While China and India are actively industrializing and enhancing their energy portfolios to provide affordable energy for their economies and citizens, Western nations are decommissioning coal-fired plants, which played a pivotal role in supplying electricity throughout the 20th century. Since 1990, the reliance on coal as a primary energy source has dwindled from 22.7% to 9.8% today. This percentage is projected to decrease further, with more coal plants slated for closure and replacement by wind and solar alternatives. This shift is predominantly driven by environmental considerations in the Western world, but it also entails significant trade-offs that are not currently factored into climate models, a point we will delve into later. China and India are also at the forefront of constructing state-of-the-art nuclear power plants, while the US and other Western nations have been progressively decommissioning and downsizing their nuclear power capacity over the past few decades. In 2023, the US has reduced its nuclear plants from a peak of 112 in 1992 to 92. In stark contrast, China boasts 55 operational plants with an additional 21 under construction, while India has 22 active plants and another 8 in various stages of construction. Both China and India are leading the charge in nuclear power generation. These nations are adopting a diversified approach in expanding their power and electricity grids, incorporating nuclear, coal, natural gas, and renewables. Unfortunately, the US and Europe are pursuing a curious and almost unthinkable objective of transitioning away from easily scalable baseload sources of power to intermittent energy sources that wholly depend on the weather and favorable climates of certain regions. Green Energy Transition Will Lead to Energy Crisis The challenge facing the US lies in the absence of a well-structured energy transition plan. Instead, the shift towards green energy is marked by disjointed policies at both the Federal and state levels. Many of these policies are implemented through legislation or executive orders, often lacking thorough planning or grounding in engineering and scientific principles. Consequently, new mandates are being issued, resulting in the closure of nuclear, coal, and gas plants, and their replacement with less reliable wind and solar sources. A notable case is California, which exemplifies the consequences of energy transitions driven by political considerations rather than sound science, engineering, and physics. The state shuttered the San Onofre nuclear plant in 2013, with Diablo Canyon set to follow suit in 2030. The Mohave coal plant was closed in 2005. The retirement of the Redondo Beach and Huntington Beach natural gas plants, to pave the way for a transition away from natural gas in favor of wind and solar, has led to an increase in blackouts and brownouts. During the summer heatwave of 2022, the governor urged residents not to charge their electric vehicles during peak hours from 9 AM to 9 PM. The state's electrical grid is ill-equipped to meet its mandates of phasing out diesel trucks and gasoline-powered vehicles by 2030 and 2035. Not only is California's power grid becoming less reliable, but it is also driving up electricity costs. In July 2023, the average monthly residential electricity bill in California was $164, which is more than 22% higher than the national average of $134. California boasts some of the highest utility rates and gasoline prices in the country, with some areas already seeing prices surpass $6 per gallon and many even exceeding $7. The governor and state legislature have passed over 800 energy bills, compelling 5,000 companies to disclose their greenhouse gas emissions and climate-related risks. As these green initiatives and mandates proliferate, the cost of electricity and gasoline is bound to become increasingly burdensome for residents. Rather than reevaluating their energy policies, the state is taking major oil companies to court, attributing rains, mudslides, and forest fires to climate change caused by the oil industry. Moreover, the state government is unwilling to address its own policies that hinder controlled burns for forest debris clearance, adequate water storage provisions, and erosion control. This, in turn, undermines the effectiveness of the state's green policies in delivering affordable and reliable energy, ultimately driving up costs for both industry and consumers. The state's plan to phase out diesel trucks and gasoline engines by 2030 and 2035, if adopted at the Federal level by the Biden Administration, could result in a significant loss of American auto jobs, as the majority of the supply chain for electric vehicles is controlled by China. This is a central concern in the UAW strike, as EVs threaten to phase out numerous auto jobs in the US. Apart from issues of unreliability and intermittency, there are four key problems with the current implementation of green energy: Scale: Windmills and solar farms require vast amounts of land to generate significant amounts of energy. Resource Intensity: Green energy technologies necessitate substantial quantities of raw materials like copper, silver, nickel, cobalt, lithium, and rare earth minerals. Fossil Fuel Dependency: Extracting and processing these minerals requires machines and industrial processes that are predominantly powered by fossil fuels. Resource Limitations: There is a finite supply of these critical minerals, potentially hindering the full-scale transition to a green economy. Let’s begin with scale. Chris Martenson's analysis in his latest book update to the Crash Course provides a compelling perspective on what would be necessary to replace fossil fuels. Here are some key considerations: A comprehensive energy build-out would necessitate a staggering 586,000 electrical power stations, compared to the current count of only 46,000. To generate a Gigawatt-hour (GWhr) of solar power at a rate of 2.8 acres per GWhr, an estimated 380 million acres of land would be required. Hydropower would need to expand by a substantial 115% to meet the energy demands. To fully transition to nuclear power, we would need an astounding 15,600 nuclear power plants, a far cry from the current 92. It would take 15,611,000 1-megawatt wind towers in perfect wind conditions and up to 52 million towers under intermittent wind conditions. For biomass energy production, an immense 10 billion acres of farmland would be necessary. Given these colossal numbers, it's evident that a single-minded pursuit of renewables is unachievable. This is why countries like China and India are strategically ramping up their domestic energy capacity across all fronts. They get it, we don’t! When it comes to resource intensity—our second point above—there is a widespread misconception that using renewable sources of energy like wind and solar leads to a conservation of earth’s resources. This is a far departure from reality. On the contrary, “green” energy demands a vast amount of mining of raw materials and critical metals. In a monumental study, Professor Simon Michaux, Senior Researcher for the Geological Survey of Finland, estimated that a total of 4.5 billion tons of key metals, encompassing copper, zinc, silver, cobalt, lithium, vanadium, and nickel, would be needed for transitioning away from fossil fuels (I spoke with Professor Michaux on Financial Sense Newshour earlier this year about the surprising facts of his research, which you can listen to at the 34 min mark by clicking here). To put this into perspective, consider the amount of key minerals required to build a Tesla S: Copper: 40-50 kg Lithium: 7-8 kg Cobalt: 3-4 kg Nickel: 15-20 kg Aluminum: 150-200 kg Manganese: 5-7 kg Similarly, for windmills and solar panels, vast quantities of steel, fiberglass, copper, aluminum, and rare earth metals are essential components. Minerals used in building a windmill: Steel: 132,000-158,000 kg Fiberglass, resin, and plastic: 22,000-32,000 kg Copper: 2,000 kg Aluminum: 4,000 kg Rare Earth Minerals: 1,000 kg Minerals used to build a solar panel: Silicon: 2.5 kg Aluminum: 1.6 kg Glass: 1.4 kg Copper: 0.2 kg Silver: 0.01 kg Other minerals (lead, tin, nickel): 0.01 kg Moreover, the high-tech devices we use daily, such as iPhones and iPads, also require a significant amount of resources and metals for their production. For instance, a single iPhone contains about 32.5 grams of things like gold, silver, and platinum, while an iPad Pro has approximately 67.5 grams. According to a 2021 report by the World Economic Forum, here are the estimated amounts of minerals in kilograms required to manufacture specific devices: iPhone Pro Max: 0.0325 kg iPad Pro 12.9 inch: 0.675 kg iMac 27-inch: 0.2025 kg As demonstrated above, our modern technological world relies heavily on a diverse array of minerals, encompassing rare earth elements (REEs), precious metals, base metals, as well as materials like glass, lithium, cobalt, copper, and nickel. Professor Micheaux's research underscores a critical concern: the current mining efforts, and those in the process of ramping up, are insufficient to support the envisioned green transition. The third challenge to a rapid and large-scale transition away from fossil fuels is, ironically, fossil fuels themselves. One inconvenient fact of green energy is that it depends on cheap and abundant sources of oil. As we just pointed out, the manufacturing of wind and solar requires vast amounts of raw materials such as steel, copper, nickel, aluminum, and rare earth elements, all of which require energy to extract and process. Electric vehicles in particular necessitate six times the mineral volume compared to conventional gasoline or diesel engines. Yes, an EV doesn’t directly run on gas but it indirectly requires a large amount of cheap energy in the form of coal, oil, and diesel in order to make one. Graphite, for example, is the largest mineral by weight required for an electric vehicle. However, processing graphite is an energy-intensive process and is done so primarily in China using cheap coal-based power. Electric vehicles are far more expensive than gasoline-powered vehicles, however, their price is already highly dependent on cheap fossil fuels. Mining operations overall rely heavily on robust earth-moving machinery, including excavators, loaders, trucks, dozers, graders, and crushers, all of which run on diesel fuel. At present, it simply isn’t practical for a large-scale replacement of diesel-powered machines with electric batteries given the large charging times and higher costs. But this is overlooking a much more powerful point: Oil itself stands as a cornerstone of the global economy, fueling 95% of all transportation worldwide. Virtually every product we purchase today, from groceries to household goods, relies on trucks, ships, planes, and trains for distribution—the vast majority of which run on fossil fuels. The majority of our current oil consumption is sourced from 500 major oil fields discovered over half a century ago, constituting 75% of conventional oil reserves (I covered the giant oil fields and their depletion in a previous article, “From Supply Glut To Energy Shock”). However, these fields are approaching depletion. The remaining reserves primarily consist of heavy oils (as seen in Venezuela) or unconventional "tight" or "fracked" oil. Over the past decade, American shale has been the driving force behind 83% of global oil growth. However, these shale fields, spanning from the Marcellus to Eagle Ford and culminating in the Permian, are now approaching their peak. The Permian Basin, the final major shale basin, is projected to reach its peak production by the end of this year or the next. The latest reports from the EIA reveal a consistent decline in production in the Permian over the past three months, signaling our proximity to this peak. The IEA, in what I view as an optimistic scenario, considers factors like greater efficiencies and widespread adoption of alternative fuels. This outlook suggests that with concerted efforts, we could facilitate a successful transition to greener energy sources. The primary emphasis is on discovering new fields to replace those reaching their peak, a challenge given the global depletion rate of 8% per year on most oil fields. Unfortunately, new oil discoveries have dwindled over the past decade, with the remaining reservoirs often situated in demanding environments like oil sands, deep-sea reserves, or the Arctic. Shale oil has been the stalwart that saved us over the last decade, driving global oil production growth. As Goehring and Rozencwajg have repeatedly pointed out, just six counties in West Texas have been responsible for 100% of all global production growth, a trend now plateauing. The pressing question is: where will the new oil, essential for funding economic growth, come from? Shale wells face a daunting depletion rate of over 80% within a three-year span, necessitating ongoing drilling efforts to sustain production. As of September, the rig count is down by 11, and it's a decline of 134 rigs from a year ago. In addition to oil, the transition to a green economy demands substantial mineral resources, which, in turn, hinge on extensive mining endeavors. Diesel fuel is irreplaceable for mining operations due to its unparalleled energy density, particularly for the robust trucks tasked with transporting processed materials crucial for EVs, wind turbines, and solar panels. Consequently, diesel prices are poised to rise significantly. As highlighted in this and previous articles, oil discoveries have been declining by decade, as shown below: Source: Our Finite World This decline has been exacerbated by a substantial drop in investment for exploration, a trend originating from the 2014 oil price downturn. Moreover, the administration's stance against fossil fuels is amplifying the costs and complexities associated with oil exploration and drilling. Foreseeably, oil prices are expected to remain in the triple-digit range for a significant portion of the coming decade, potentially further inflating the cost of mineral mining. The transition towards a green economy is further complicated by the fervent anti-fossil fuel stance advocated by environmental groups. There appears to be a dearth of critical thinking regarding the scientific and engineering requisites for mineral production to power a green economy. Despite the notable growth in renewable energy, it's crucial to acknowledge that energy consumption from fossil fuels has outpaced this growth. As indicated in the upcoming graph, energy consumption from fossil fuels has surged by 6.8 quadrillion BTUs from 1990 to 2022, almost doubling the demand seen for wind and solar. Source: Institute for Energy Research It's imperative to recognize that the demand for fossil fuels persists for a reason—they underpin the foundations of our technologically advanced economy. Without them, our present world would not be possible. Additionally, little has changed in our energy mix over the past three decades, except for a decline in coal and a rise in natural gas. To achieve Net-Zero carbon dioxide emissions by 2050, a reduction in fossil fuels' share of the primary energy mix by 62% to 0% by 2050 would be necessary. I will delve into why this scenario is unlikely to unfold and why green initiatives are poised to falter in the forthcoming installment of this series. In summary, the green transition is contingent on the use of cheap fossil fuels to extract and process the minerals essential for its realization. Current policies being pursued are poised to culminate in a major energy crisis and lead to an unfortunate reality check for much of the globe. Much like oil, the minerals requisite for building out the green economy are destined to become more expensive and face eventual decline in output—a phenomenon commonly referred to as "Peak Minerals." The ensuing series of graphs from The Institute For Energy Research serves to illustrate the extensive mineral demand entailed in constructing clean energy. These visuals underscore that an electric vehicle necessitates six times the minerals for its production compared to a traditional gasoline engine. Moreover, in the realm of power generation, wind and solar technologies can require nearly ten times the volume of crucial minerals. In essence, we lack the mineral reserves needed to achieve carbon neutrality by 2050. The shortage is compounded by insufficient mining resources, diminishing discoveries, lower ore grades as existing mines deplete, and a dearth of oil to fuel the mining of raw materials. As further exemplified in the previous graphs, clean energy is highly mineral-intensive, necessitating 6-10 times the mineral quantity for its production and implementation. According to the International Energy Agency (IEA), in their sustainable development scenario, demand for lithium is projected to surge by a factor of 42, graphite by 25-fold, cobalt by 21-fold, nickel by 19-fold, and rare earths by 7-fold. Meeting this escalating demand for metals will require a rise in metal demand from under 10 million metric tons to 42 metric tons by 2050. The pressing question is: where will the requisite metals be sourced to meet this demand? A significant challenge facing the West is that these crucial metals are more geographically concentrated than oil production. While oil was distributed across the Middle East, Russia, and the United States, energy transition metals exhibit a more pronounced geographical concentration. China presently exerts dominance in the processing of the majority of these minerals, accounting for 40% of global copper production, 58% of lithium, 35% of nickel, 65% of cobalt, and a staggering 87% of rare earths. In line with a report from the Department of Defense titled “Securing Defense Critical Supply Chains,” China has assumed a pivotal role in the global advanced battery supply chain, claiming 94% of lithium production, alongside a significant share of other materials indispensable for the green transition. As electrification intensifies in order to meet the global elite's 2030 target date, dependence on China is slated to amplify through the remainder of this decade. This reliance raises significant concerns for the U.S. military, as we are reliant on Russia for our uranium, which fuels our nuclear aircraft carriers, submarines, and power plants, and on China for the computer chips that guide our missiles and power our high-tech economy. While the U.S. possesses access to many of these raw materials, mining companies are hindered from exploiting and processing them due to opposition from environmental groups and the Biden Administration's reluctance to open new mines. Instead of cultivating our own reservoirs of critical minerals such as lithium, cobalt, copper, nickel, graphite, rare earths, oil, and natural gas, there is a preference to outsource the extraction of these resources to other nations, for fear of antagonizing influential environmental groups, which vehemently oppose all mining and fossil fuel drilling. The BANANA (Build Absolutely Nothing Anywhere Near Anybody) Greens may have an affinity for their EVs, wind turbines, solar panels, iPhones, iPads, and iMacs, but they harbor a deep disdain for the economic systems and companies that produce them. It is imperative to underscore a few of the paramount resources necessary for driving the green energy transition. Let's commence with copper—an average electric vehicle necessitates six times the copper compared to a gasoline engine. Furthermore, copper plays a pivotal role in constructing wind turbines and solar panels. Similar to oil, copper discoveries have been steadily decreasing by decade, with lower ore grades necessitating the processing of greater quantities of earth to yield a pound of copper. As evidenced by the graph from S&P Global, copper discoveries have witnessed a precipitous decline over the past decade. According to S&P, the copper discovered over the last 15 years amounts to a mere 143 metric tons. To put this in perspective, almost an equivalent amount of copper was discovered in a single year back in 1991. Even with fresh investments, copper discoveries are slated to reach a historic low for the remainder of this decade, unlikely to match the prime discovery decade of the 1990s. This decline in discoveries coincides with a surge in demand for the metal, expected to double in the near future. The next metal on the horizon to face a supply deficit is silver—a metal with a multitude of applications, from electronics to solar panels. According to recent reports, China stands as one of the foremost global consumers of silver, with an annual demand averaging 6,300 tons. However, China's annual silver production barely reaches 3,350 tons, with reserves estimated at a mere 41,000 tons as of 2020. At the current pace of mining, China's reserves are projected to be depleted in another 11 years. Per the U.S. Geological Survey (USGS), global silver production reached 25,000 tons in 2020, with estimated reserves totaling 500,000 tons. Even more disconcerting is the situation in Mexico, which boasts the title of the world's largest producer of silver. Over the last decade, Mexico's average silver output has been 5,600 tons, with remaining reserves of 37,000 tons. At the current rate of extraction, the country's silver reserves are anticipated to be exhausted by the end of this decade. With silver reserves in China and Mexico facing depletion by the decade's end, the supply of silver could plummet by 15,450 tons, while demand is projected to exceed 30,000 tons. Source: GoldFix Anticipated demand for silver is set to surge over the remainder of this decade, spurred by requirements from green energy, high-tech industries, AI, 5G, clean power stations, EVs, medical technology, space stations, and smart appliances. Given the waning discoveries and reserves, where will this silver be sourced? The prevailing price of silver does not align with this reality, as its value has been suppressed through massive short positions on the Comex and London exchanges. The burgeoning demand is reflected in the premiums paid on sovereign silver coins by investors, which have ranged from 40% to 90% above the spot price of silver. As Guillaume Pitron chronicles in his two must-read books, The Rare Metals War and The Dark Cloud, the digital revolution and green energy transition are highly intertwined. The technological convergence resulting from the integration of these new technologies exerts a multiplier effect on the consumption of metals that humanity relies upon. An aspect that often goes unacknowledged is the environmental toll of digitization and green energy. The extraction and processing of the needed metals for green energy is an inherently dirty process, but many countries are also unwilling to vastly increase the required mining efforts to make such a transition possible. Instead, the West has outsourced its renewable energy needs to countries with less stringent environmental standards, where metals are both mined and processed away from the public eye. Everyone loves clean energy, as long as it comes from somewhere else. In summation, the current energy transition necessitates a significant quantity of critical minerals, which are presently in short supply, anticipated to grow scarcer in the decade ahead, and ultimately poised to lead to resource scarcity and potential resource conflicts. In a forthcoming article, I will elucidate why the timetable for the green transition is likely to fall short, not only missing its target but, more crucially, propelling us toward a major energy crisis. You are already witnessing this in the soaring price of gasoline, elevated utility bills, increased food costs, and the inflationary impact of rising energy prices. Full transparency: we have vested interests in base metals, strategic metals, precious metals, uranium, oil, and natural gas. Advisory services offered through Financial Sense® Advisors, Inc., a registered investment adviser. Securities offered through Financial Sense® Securities, Inc., Member FINRA/SIPC. DBA Financial Sense® Wealth Management. Copyright © 2023 Jim Puplava LinkedInXFacebookEmailPrintCopy Link Share RECOMMENDED The Beginning of the End Part II: The Return of Inflation The Beginning of the End – Of Growth as We Know It Book Interview: The Dark Cloud: The Hidden Costs of the Digital World Renewables Face Economic Challenges While Global Oil, Coal Usage Still Dominate A Decade of Scarcity: Understanding "Peak Everything" Louis Gave on China's Strategy, Epic US Capital Misallocation Guillaume Pitron on '50 Shades of Green', EVs, and the Next Mining Boom Alice Friedemann on Moving Away from Oil, Reality Checks on Alternative Energy Mart Wolbert on the Increasing Shift Towards Nuclear, Downshift on Wind and Solar ABOUT THE AUTHOR James J. Puplava, CFP®, CTS™, CES™, AIF®, CIS™, CFS™, CAS™, CSS™, FPWM™ President, Founder Financial Sense® Wealth Management Financial Sense Newsletter Email: Smart Macro: Consumer Spending, Inflation, and the Market Outlook WITH CHRISTOPHER PUPLAVA, CRPC® AND CRIS SHERIDAN Central Banking Needs Fundamental Reform and Complexity Theory Points the Way, Says William White WITH CRIS SHERIDAN Louis Gave on China's Strategy, Epic US Capital Misallocation WITH CRIS SHERIDAN About About Us Terms of Use Privacy Policy Site Map Disclosures Customer Relationship Summary BD Customer Relationship Summary RIA Business Continuity SEC Rule 606 Reports Connect Invest with Us Follow Us Subscribe Submit Payment Get Help Featured FS Newshour Tech + Big Picture Lifetime Planning FS Insider Blog Video Financial Sense Financial Sense® Wealth Management 10809 Thornmint Road, 2nd Floor San Diego, CA 92127 USA 888.486.3939 service@financialsense.com Contact Us The opinions of Financial Sense® contributors do not necessarily reflect those of Financial Sense, staff, or parent company, Financial Sense® Wealth Management. 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