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Here's some articles of GCR interests... BRICS will trade in local currencies, not USD. Treat as rumors. Not verified. Your opine. FROM OTHER SOURCES: BRICS UPDATES: BRICS DETERMINED TO TRADE IN LOCAL CURRENCIES, NOT USD. ARTICLE: The BRICS alliance is determined to trade in local currencies and not the USD for cross-border transactions. The USD is seen as an adversary that hinders their growth in the global financial sector. Local currencies are seen as an alternative option that can bring the hegemony of the USD down. BRICS: Local Currencies First & Not the USD. Similar to the phrase ‘America First‘, the BRICS bloc is now emerging to make ‘local currencies first’. The bloc is pulling every trick up its sleeve to sideline the USD for cross-border payments. From oil deals to copper trade & infrastructural loans, the alliance is aiming to push local currencies for settlements. Many other developing countries are keen on joining the bandwagon & could soon jump on the de-dollarization train. Several nations in Africa are on the sidelines & could seek the help of BRICS to put their local currencies to use. The move will strengthen their native economies & make businesses thrive. It will also provide a way for their local currencies to make a mark in the currency markets. BRICS NEWS: 2 COUNTRIES OFFICIALLY ABANDON THE US DOLLAR FOR TRADE. BRICS members Russia & Iran announced that they have officially abandoned the USD for trade between the two nations. Russia reported that 96% of all cross-border transactions between Iran have been settled in local currencies, the Ruble & Rial. In 2024, the usage of local currencies between Russia & Iran is up by 12.4%, making 96% of all settlements. “We (BRICS members Iran & Russia) have entered into a currency agreement with Russia & fully removed the USD. Now we only trade in Rubles & Rials,” said the Gov of the CBI of the Islamic Republic, Mohammad Reza Farzin. However, both nations face sanctions as the WH has made it difficult to accept the USD. In July this year, both the BRICS countries agreed to a currency swap policy signed by the Russian & Iranian central banks. They also completed the integration of Russia’s Mir payment as a replacement for the SWIFT messaging system & the USD. Russia also allowed Iranian citizens to withdraw the Rial in ATMs across the country. BRICS: Russia & Iran Sidelines The US Dollar, Trades In Local Currencies. While the US pressed sanctions on BRICS member Russia to weaken its economy, the Kremlin is bypassing the sanctions by convincing other countries to ditch the USD & begin using local currencies. The de-dollarization initiative is growing & many developing countries are now eager to join the bandwagon. TAIWAN ENFORCES AML REGISTRATION MANDATE FOR CRYPTO PROVIDERS. Taiwan accelerates its crypto AML mandate, imposing stricter registration rules & penalties for noncompliance. Taiwan advanced the introduction of its new Anti-Money Laundering (AML) regulations for cryptocurrency businesses after authorities fined two crypto exchanges for violations. On Nov. 27, the Financial Supervisory Commission (FSC) announced that the upcoming money laundering prevention registration mandate for crypto exchanges was shifted to Nov. 30 from the previous Jan. 1, 2025 deadline. Per the previous notice, virtual asset service providers (VASPs) failing to register with the government could be subject to a two-year prison sentence or fines of as much as 5 million New Taiwan Dollars ($155,900). The new mandate includes previously registered crypto businesses. According to Taiwan FSC records, 26 crypto providers are currently approved to continue to offer their services. All crypto entities, whether previously registered or not, must register in accordance with the new AML mandate. The authority said: “No business operators have completed the Money Laundering Prevention Registration under the VASP Registration Measures.” The authority provided a checklist of items crypto exchanges can use to track suspicious transactions or activities. When identifying suspicious customers, crypto service providers must look for names & bank account details, location via IP addresses, multiple trading accounts & frequent information changes, among other things. Crypto exchanges in Taiwan were also asked to track unusual transaction activities, including but not limited to splitting funds, utilizing multiple accounts with the same IP address and switching assets. Cracking Down On Crypto Exchanges Violating AML laws. According to a Regulation Asia report, the FSC fined crypto exchanges MaiCoin and BitoPro on Nov. 28 for AML violations in relation to customer due diligence (CDD), transaction monitoring, record-keeping & suspicious transaction reporting. To register with Taiwan’s AML regulation, crypto service providers are required to submit a one-page form detailing the nature of their businesses. The form states that any changes to the business or the information provided should be provided to the Securities Over-the-counter (OTC) Trading Center within five business days. Crypto businesses will also be required to establish a quality management system for accounting & auditing their finances. RETAILERS PUSH FOR A DELAY IN ROLLOUT OF RUSSIA’S CBDC. In October the Bank of Russia revealed a time frame for the roll out of the digital ruble, which forms part of a Bill that has been submitted to the State Duma. The mass rollout date is 1 July 2025. By that time the largest banks & retailers must support the central bank digital currency (CBDC). Now the Ministry of Industry & Trade has asked for a longer timescale of up to two years, similar to that provided to smaller retailers, the Izvestia newspaper reported. The 1 July deadline applies to retailers with a turnover of more than 30 million Rubles ($274,000). Those with incomes between 20 to 30 million Rubles have one extra year & smaller firms have two years. The Ministry complained that there are still no rules for the operation & functioning of the digital Ruble, so it doesn’t allow sufficient time for retailers to prepare & for adapting their point of sale software. Trade bodies agree. “We believe it is necessary to refrain from legislatively establishing specific deadlines for launching systems at the trade level & to provide for a transition period of at least two years, during which companies will carry out the necessary work,” a letter from the Retail Companies Association (ACORT) states. Another industry body, the Association of Internet Trade Companies (AITC), has similar views. It said, “The absence of such important provisions does not give businesses the opportunity to assess the costs of implementation time, the necessary human resources, expenses for the company & also to understand to what extent companies are ready to implement such payments.” The main benefit of a CBDC for retail outlets is reduced acquiring fees, so retailers will pay less for processing payments. What’s The Rush? Stepping back, one of the big motivators for a CBDC is for cross border payments in order to circumvent sanctions. If a CBDC isn’t rolled out domestically, then a cross border CBDC would need direct integration with the domestic payment system. With the cross border payment platform mBridge, the only member that currently has a domestic CBDC is China & even that is in pilot mode. Hence, it’s not completely clear why there’s such a rush in Russia. Especially given the central bank has a few other issues to deal with given the war with Ukraine. On the other hand, Russia is known for its software prowess & is trying to lead the BRICS Bridge cross border payment project. Hence, having an operational domestic CBDC gives it more credibility.

Here's some articles direct from the Sandbox. Treat as rumors. Not verified. Your opine. From The Sandbox: Iraq 4th Largest Arab Country & 51st Largest In The World In The List Of The World’s Largest Economies. ARTICLE: Iraq ranked 51st globally & fourth in the Arab world on the list of the world’s largest economies for the year 2025, according to a report issued by the American magazine “CEOWORLD”. The magazine stated in its report, which Shafaq News Agency reviewed, that the US will top the list of global economies in 2025 with a gross domestic product of $30.33 trillion, followed by China with $19.53 trillion, Germany with $4.92 trillion, Japan with $4.39 trillion & then India with $4.27 trillion. She explained that these countries will lead the impact on the global economy due to their weight in international trade & wealth. The report added that the top ten will also include countries such as the United Kingdom, France, Italy, Canada & Brazil, showing a balance between developed & emerging markets. On the Arab level, the report indicated that Iraq came 4th in the Arab world, with a gross domestic product of $270.87 billion, after Saudi Arabia, the Emirates, & Egypt, while Algeria, Qatar, Morocco, & Kuwait came after it. At the end of the world ranking, Tuvalu came in last place (196) with a GDP of $79 million, preceded by Nauru with $179 million. Iraq Faces Great Difficulties In Controlling The Dollar.. What Are The Solutions? Faces economy Iraq Major challenges due to its close association with the USD, as fluctuations in the exchange rate & the control of the Federal Reserve (the US central bank) over the financial system directly affect economic stability in Iraq. This impact was directly reflected on the citizen’s life. Iraqi. On the one hand, the rise in prices of goods & services, the erosion of the value of wages & the decline in purchasing power. A Thorny File. The head of the National Center for Monitoring & Evaluation in Iraq, Mohammed Al-Baghdadi, confirmed that the issue of…Dollar It is considered one of the thorny & complex issues in the Iraqi economy. Pointing This file is linked to two main axes, which are the control of the US Federal Reserve over Dollar transactions & supply & demand. Al-Baghdadi said, “The economy Iraqi It depends entirely on the topic. Dollar And its ER, indicating that the US currency is imported into Iraq by selling oil, but unfortunately, this money is in accounts controlled by the US government,” He added .IraqHe faces great difficulties in controlling the issue of the Dollar & he said: “Iraq is a consumer country & during the process of selling Dollar for exchange offices & banks, large quantities of it are withdrawn & sold in the form of external transfers to finance Iraqi imports.” He added that the issue of the US Federal Reserve’s control over these financial transactions places significant restrictions on Iraq In these operations, noting that the ER depends entirely on the amount of supply & demand. Despite the passage of about 3 years since the start of the electronic platform to monitor the movement of the Dollar, the ER of the Dinar against the US currency still witness a large disparity between the official price announced by the CBI, which is 1320 Iraqi Dinars per Dollar & the black market price, or what is known as the parallel price, which ranges between 1490 & 1510 Iraqi Dinars per Dollar. Neighboring Countries. Al-Baghdadi stressed that the central government is trying to control the flow of capital from Iraq To neighboring countries to finance imports, but it is very difficult due to the smuggling of large amounts of cash. For his part, economic expert Kazem Jaber confirmed that the sharp fluctuations in the ER Dollar in Iraq Its causes are not limited to neighboring countries, but extend to include the effects of the international financial system, especially the SWIFT system (for financial transfers) & the monetary policies of the US Federal Reserve. Jaber pointed out that this system imposes strict restrictions on the movement of funds to countries, which makes them vulnerable to external influences. On September 4, the CBI announced Iraqi Terminating the electronic platform for foreign transfers, early next year. The platform’s work, in its 1st phase, is based on reorganizing financial transfers in a way that ensures proactive control over them instead of subsequent control through the Federal Reserve’s audit of daily transfers. *BRICS Bloc. Jaber saw that the Iraqi government’s attempts to control the ER face major challenges due to the heavy reliance on the SWIFT system. Pointing until Iraq It is striving to achieve greater financial independence from the current global financial system by seeking to join the BRICS economic bloc, which aims to build an alternative financial system based on a basket of currencies, reducing the dominance of Dollar & grants Countries Members have wider options in international financial transactions. He stressed that resorting to the parallel market may be inevitable to meet the needs of the private sector under these circumstances. Will Iraq Take The Adventure Of Joining BRICS Despite American Risks? At a time when the USD has become more than just a currency, but has become an economic weapon & part of the political hegemony system, voices calling for finding new financial alternatives are increasing. These calls are gaining momentum in light of the sanctions imposed by the US on countries that stand against its policies, such as Russia & China. According to an economic analysis published by a specialized website, this intensive use of the Dollar as a pressure tool has prompted the Eastern bloc to intensify its efforts to develop a new global currency that could reshape the economic map. On the ground, this movement began under the leadership of the BRICS group, which includes Russia, China, India, Brazil, and South Africa. “The BRICS single currency is not a dream, it is a realistic response to US financial hegemony,” reads a tweet posted by economic accounts. “Cooperation between these countries goes beyond economics to become a strategic political step,” it added. This cooperation comes at a time when relations between the group’s countries are developing rapidly, with China & Russia working together to create a financial force that could weaken the influence of the Dollar. On the other hand, Iraq finds itself in a complicated situation. Although the country has not officially requested to join BRICS, even considering such a move could be fraught with risk. Informed sources confirmed that Iraq is not prepared to bear an American strike, especially in light of its complex economic relations with the US. A tweet by an Iraqi citizen named “Noor Al-Azzawi” expressed this concern by saying: “We are stuck between a rock and a hard place. America will not tolerate any step that might weaken its influence here.” The statements of the Russian Ambassador to Iraq, Elbrus Kotrashev, came to open a window of hope for Baghdad, as he said: “BRICS is not an alliance against anyone, it is an open group that welcomes everyone.” He stressed that the group does not have hostile intentions, but rather aims to achieve a global economic balance. As BRICS countries formulate their plans, significant technical challenges arise in unifying payment & currency settlement systems among member states. An economic analyst named Ahmed Al-Harthi wrote in a Facebook post: “The success of the BRICS currency depends on two main factors: the 1st is the ability to build a common financial system & the 2nd is ensuring global acceptance of the new currency.” He considered that the step is not easy, but it is necessary. The coming years are likely to witness pivotal moves. According to recent reports, China & Russia are closely coordinating with Iran & North Korea to build a financial alliance of countries that see the current financial system as serving Washington’s interests at the expense of the rest of the world. These efforts could be met with greater political pressure & economic sanctions from the US, making the economic conflict even more complex. The National Union Explains The Reasons For Not Legislating The Oil & Gas Law. Member of the Patriotic Union of Kurdistan, Ghiath Al-Surji, explained the reasons for not legislating the Oil & Gas Law, noting that there is no longer a need to legislate such a law, especially after the issuance of judicial decisions regarding the oil & exports file. Al-Surji told Al-Maalouma, “The region was waiting for the enactment of the Oil & Gas Law to resolve all the problems related to this wealth between Baghdad & Erbil, but today the situation is different after the issuance of a judicial decision by the Paris Court to stop the export of oil from Kurdistan to Türkiye.” He added, “The international judicial decision, in addition to the Federal Court decision, stipulated that the oil would be owned by everyone, meaning that the authority over this wealth would be in the hands of the federal government in Baghdad.” He explained that “the judicial decision two years ago obliged the region not to export oil to Turkey & made the authority over it under the supervision of Baghdad, so the issue of Oil & Gas Law & the legislation of the law related to it will be unnecessary, especially since the judicial decision made the oil revenues under the authority & supervision of Baghdad.” Parliamentary Finance: Amending The Budget Law Will Allow For Changing Useless Paragraphs & Items. The Parliamentary Finance Committee confirmed, on Wednesday, that any change to the paragraphs of the federal budget will allow for the change of paragraphs & items that have been proven to be ineffective. Committee member MP Hussein Mounes said in a statement to Al-Maalouma Agency, “Submitting the 1st reading of the draft law amending the federal budget that was approved for three years (23, 24 and 25) will allow for changing paragraphs and items that have proven to be ineffective.” He added, “The amendment needs a deeper study because that will push us to change the schedules & thus we will be faced with an increase in the deficit on the one hand & a decrease on the other.” It is noteworthy that the agenda of the House of Representatives included a paragraph discussing the 1st reading of the draft first amendment to the Federal Budget for fiscal years 23, 24 & 25, submitted by the Parliamentary Finance Committee. What Is Iraq’s Connection? Goldman Sachs: OPEC+ Cuts May Support Oil In The Short Term. Crude oil production in Iraq, Kazakhstan & Russia has fallen in compliance with OPEC+ production cuts, supporting some upside for Brent prices in the near term, according to a recent note from Goldman Sachs. The investment bank added in its note issued yesterday, Tuesday, that Saudi Arabia is likely to extend oil production cuts due to the recent decline in prices & that it now believes that oil production cuts will continue until April 2025 instead of January. Goldman Sachs Maintained Its Forecast For The Average Price Of Brent Crude For 2025 At $76 Per Barrel. Two OPEC+ sources told Reuters that the group, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) & allies including Russia, is discussing another delay to the oil production increase that was scheduled to start in January. At the group’s most recent meeting on November 3, OPEC+ agreed to postpone a production increase scheduled for December for a month. he bank said that “any increase in OPEC+ production will be gradual & data-dependent.” Goldman Sachs added that the high level of compliance with OPEC+ production cuts indicates that the group’s member states are working together to stabilize oil prices. He said that the production of Iraq, Kazakhstan & Russia decreased by 0.5 million barrels per day in November. OPEC members are unlikely to backtrack on voluntary production cuts in the near term, executives from global commodity trading giants Vitol, Trafigura & Gunvor told the Energy Intelligence Forum in London. But despite OPEC+ production cuts and delays to boost output, Brent crude futures have mostly remained in a $70-$80 range this year, trading below $74 on Tuesday. Goldman Sachs last week revised its forecast for Brent prices to an average of $80 per barrel this year, despite a supply deficit & geopolitical uncertainty in 2024, pointing to an expected surplus in 2025. Economist: Non-Oil Revenues To Achieve Significant Growth In 2024. Economic expert Manar Al-Obaidi, a member of the Political Economic Center, announced that the non-oil revenues of the Iraqi state grew during the 1st nine months of 2024 by 198% to reach the 12.3% barrier of its contribution to the total revenues of the Iraqi state. Al-Obaidi said in a statement that the total non-oil revenues of the Iraqi state during this period amounted to 14 trillion Iraqi Dinars, up from the same period in 2023, which was about 4.7 trillion Dinars. Despite the decrease in the value of revenues resulting from taxes on income & wealth by 17%, the increase in commodity taxes by 275% & the increase in the Budget’s share of public sector profits by 243% contributed to this significant increase. He explained that for the first time since 2003, non-oil revenues constituted 12% of total revenues & the contribution of oil revenues decreased to reach 88% of total revenues. He added that the total revenues until September 2024 amounted to 114 trillion Iraqi Dinars, an increase of 19% compared to the same period in 2023, which amounted to 95.85 trillion Iraqi Dinars. The improvement in non-oil revenues is due to the reforms made in the tax & customs file, in addition to encouraging profitable public companies to increase their contribution to government revenues. It is expected that non-oil revenues in 2024 will reach the barrier of 18 trillion Iraqi Dinars. Despite the increase in this number, it is still far from the planned number in the Budget, which amounts to about 28 trillion Iraqi dinars. However, this improvement in these revenues reflects the success of the reforms made in the field of collection & work to increase payment through electronic outlets.

Here's an article of Dinarian interests... RE-POST-Big BRICS-Saudi Arabia Pow Wow... Treat as a rumor. Not verified. Your opine. FROM OTHER SOURCES: BRICS MEETING WITH SAUDI ARABIA: MAJOR DISCUSSION POINTS UNVEILED. ARTICLE: Despite the ongoing confusion regarding the country’s position within the economic alliance, the BRICS bloc and Saudi Arabia have met, with major points of discussion being unveiled. The nation had previously accepted an invitation to be among its first expanded members. However, that proved not to be the case, with major leadership not even attending the alliance’s 2024 Summit. However, the two sides are still reportedly engaged in positive talks. Specifically, they have met to confront the potential for growing cooperation on a global scale. The move could have major ramifications for the coming year. Moreover, it could be a turning point that reestablishes Riyadh as a key BRICS ally. Saudi Arabia & BRICS Hold Key Discussion: Here’s What Was Said: The BRICS bloc has grown massively over the last year. Indeed, it had enacted a groundbreaking expansion in 2023, where four nations joined the collective. Specifically, the United Arab Emirates (UAE), Egypt, Iran & Ethiopia became the first expansion countries since 2001. Yet, one nation that had accepted, but did not join the bloc was Saudi Arabia. Indeed, the country was poised to be one of the most important additions to the economic alliance. Its dominance in the oil sector was expected to only strengthen the group’s position. However, the country would end up rejecting a full position within the bloc. That hasn’t stopped the two sides from engaging in efforts to strengthen their relations. Indeed, BRICS has met with Saudi Arabia in recent discussions that sought to fortify their relationship. Specifically, reports how Russian President Vladimir Putin & the Crown Prince of Saudi Arabia, Mohammad bin Salman Al Saud, recently talked. According to reports, the two sides discussed the success of the bloc’s 2024 Summit. Moreover, they affirmed the “importance of continued coordination between the two states” within economic collaborations. Finally, they both spoke highly of the ongoing trajectory of their nation’s partnerships. However, they also highlighted the importance of their “readiness to further strengthen cooperation in political, trade, economic, and humanitarian spheres.” The bloc has recently shifted its focus amid an ever-changing geopolitical landscape. With Donald Trump’s election taking place this month, the group has said they will no longer ditch the USD. Perhaps the absence of Western opposition makes continued partnership with Saudi Arabia more appealing to the Middle Eastern powerhouse.

FROM OTHER SOURCES: Transformation Of The International Monetary System. ARTICLE: Somebody should ask Jerome Powell or Janet Yellen about the BRICS plan to create a new international exchange of precious metals. Hint: They won’t. BREAKING NEWS: JAPAN’S FINANCE MINISTER KATSUNOBU KATO DISCUSSED DEVELOPMENTS IN THE FOREIGN EXCHANGE MARKET WITH UST SECRETARY JANET YELLEN. You Can’t Make This Stuff Up: “Recent moves in foreign exchange rates were discussed at a bilateral meeting today between Finance Minister Kato & Treasury Secretary Yellen…” BLOOMBERG. Australia’s central bank recorded its fourth straight year of accounting losses in 2024. $2.78 billion loss. You are reading this right. BREAKING NEWS: THE FEDERAL GOVERNMENT IS INVESTIGATING CRYPTOCURRENCY COMPANY TETHER FOR POSSIBLE VIOLATIONS OF SANCTIONS & ANTI-MONEY-LAUNDERING RULES. Nobody saw this coming: “Authorities looking at possible violations of anti-money-laundering & sanctions rules…” Again, I have said this for years… Watch for gold-backed stablecoins. The CEO of America’s largest bank, Jamie Dimon, says the global order is at risk. In other words, a transformation of the international monetary system. WSJ.

Here's an article of Dinarian interests... The world is dumping USD. Treat as a rumor. Not verified. Your opine. MikeCristo8: The World is Dumping USD. ARTICLE: Many do not understand gold & silver rising (in price). The world is dumping Dollars which is driving gold & silver price higher. Gold & silver are detaching themselves from the Dollar credit system at this moment as the BRICS system launches. Russia has been buying silver all along. They just chose to announce to the world. Bold statement: gold & silver have already detached from the Dollar. If the United States had their gold...You would see banks massively writing down their balance sheets. That’s not happening. LUIGI'TWO CENTS WORTH: For decades the US has dominated the global gold & silver prices. That's why gold was at $35 oz & silver at $9 an oz for decades. Gold & silver all the sudden shoots up in values due to the detachment away from the USD. The USD Ofically dies after the BRICS Summit 22-24 Oct, officially ends. The new BRICS currency called the UNIT will become the prime global currency of preference. The US missed the boat due to it's slow response to gold, silver, oil & minerals asset backed currency. The FIAT Dollar era has ended even if the USD goes gold backed. It's too little, too late to get in on the ground floor. We can only hope China-Russia will be merciful & allow the US to become a team player in the future of the global economy. IMHO.

Here's two articles of GCR interests... Treat as rumors. Not verified. Your opine. Mike Cristo: Why The BRICS Currency Matters. ARTICLE: Don’t be surprised if China devalues the Yuan against their gold reserves to get a $40 USD oil price. That will bring down the Dollar. The relationship between gold & oil since 1900 & now & the relationship between the Dollar & oil. That’s why BRICS is moving to a hard asset backed currency. This is why the BRICS currency matters. This is why Israel will not attack Iran’s oil is all noise. They need to distract from the fact that the Dollar is no longer pricing oil. Oil is about to massively crash. China is manipulating the Yuan against their gold reserves to crash oil in USD. The central planners are doing currency swaps (within the G7) to keep oil from crashing. The Dollar collapses. This is what Alasdair Macleod was talking about. Few understand this. The price of oil is deflationary when measured against gold. Big if true. So if BRICS returns the oil price back to the 1971 gold standard. The Dollar collapses. This is what Alasdair Macleod was talking about. Ariel: Iraq Is Up Next To Swing. Hot Off The Press... JUST IN: BRICS says it has reached a “very good agreement” to settle international trade with national currencies. The FIAT Dollar Dies. Money. Freedom. Sovereignty. Iraq is up next to swing. Who’s ready to cash out? Listen, I will dedicated an entire thread for all my followers who have IQD. You all can upload all the new things you either bought or invested in. We will have our own hashtag.

Here's some articles of Dinarian interests...Iraq confirms it's going BRICS...The USD Ofically dies on Oct 24 at the conclusion of the BRICS Summit...Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: Its Currency Is “BRICS”… Government Advisor: A Global Monetary & Financial System Is About To Be Born. ARTICLE: Saleh said in a press statement, regarding his expectations for the outcomes of the upcoming BRICS summit in Kazan, Russia, that “a monetary & payments system is imminent & enjoys international acceptance and credibility & the new monetary situation must impose an official character in the arrangements for Special Drawing Rights (i.e., a currency). International Monetary Fund (IMF), that is, the BRICS currency has a high weight in the weights of world currencies, according to which the International Monetary Fund deals with the stability of the ER & the strength of the new international currency (BRICS currency).” He added: “The Kazan summit must come out with an official announcement about the new international reserve currency called the BRICS UNIT currency, which will undoubtedly represent an economic force for approximately. Over 40% of the world’s population & represents about 30% of the size of the global gross domestic product, especially since The five countries contribute significantly to the global economy, representing approximately 25% of the global GDP alone.” He pointed out that “China & India are considered two main drivers of this growth, with their economic power increasing significantly in the past two decades until the present time & there is no doubt that half of the global trade is controlled by the group.” Saleh added: “With this, the BRICS group seeks to reshape the global economic system in line with its interests & challenge the traditional dominance of Western countries in international economic institutions, especially the establishment of its own financial institutions such as the New Development Bank.” Russia holds the rotating presidency of the BRICS bloc this year, under the slogan “Strengthening multilateralism for equitable global development & security.” Since assuming the presidency of the group, Russia has organized more than 200 political, economic & social events, and the main event will be the BRICS summit with the participation of a number of heads of state, which will be held in Kazan from October 22 to 24. The BRICS group is a joint association between several countries that was created in 2006 by Brazil, Russia, India & China & later in 2011, South Africa joined it. Since the beginning of 2024, Egypt, Ethiopia, Iran, the UAE & Saudi Arabia have joined BRICS. Central Bank Of Iraq’s External Remittances Surge. The CBI. Photo: INA Baghdad (IraqiNews.com) – The CBI plays a crucial role in managing remittances and foreign currency transactions within the country. The remittance environment has seen notable advances & changes in recent times, which may be attributed to governmental actions & wider economic factors. Through its currency auction, the CBI claimed a 91 percent rise in overseas remittances in March 2024. The bank sold almost $213.4 million at this peak in a single auction, with the majority of the proceeds going for documentary credits & remittances. For documentary credits, the exchange rate was established at 1305 Iraqi dinars per US Dollar, while for cash transactions, it was 1310 Iraqi Dinars per US Dollar. The efficacy of the CBI’s monetary policies in stabilizing the Iraqi dinar and promoting foreign exchange flows is demonstrated by this growth. Additionally, the CBI has taken action to stop money laundering through the remittance network. The implementation of an electronic foreign remittance platform has been crucial in identifying genuine beneficiaries of transactions, thus reducing avenues for criminal operations, as stated by the CBI Governor, Ali Al-Alaq. This platform is part of a larger plan to improve international standards compliance & financial transparency. Some Iraqi banks have lowered their external remittance charges to 0.5 percent in order to improve the remittance process. This is in accordance with CBI regulations that seek to increase the accessibility of foreign currency services. It is anticipated that this decrease would motivate more people & companies to use official channels for their remittance requirements. The CBI’s recent remittance measures are part of a larger attempt to expand access to financial services for all individuals, increase regulatory compliance & stabilize the economy. Al-Sudani Stresses The Importance Of Banking Reform By Enhancing Citizen Confidence & Cooperation With Investors. Today, Thursday, PM Muhammad Shiaa Al-Sudani stressed the importance of banking reform in enhancing citizen confidence & cooperation with local & foreign investors. He said Office The Prime Minister’s in a statement received by Al-Sumaria News, “Al-Sudani chaired a special meeting on efforts related to developing the work of the government banking sector, in the presence of representatives of Ernst & Young for auditing & financial consulting.” The office added, “During the meeting, a package of recommendations was presented by the company to proceed with the reform of the Rafidain Bank, which included the new legal status of the Rafidain Bank, its capital, its business strategy & the new consultant who will work with the bank to meet the global requirements of modern banking, as these recommendations will be presented to Council the Ministerial.” The economy will then submit it to the Council of Ministers for approval.” According to the statement, Al-Sudani explained that “the issue of structuring Rafidain Bank is the first of the government’s banking reforms, which was given special attention to follow up on all its reports, submitted by the concerned authorities, especially from the committee concerned with the structuring process.” The Prime Minister stressed “the importance of the banking sector reform project, which began with Rafidain Bank,” noting “work to provide a bank with specifications and standards through which problems can be overcome & confidence given to citizens, in addition to enhancing cooperation with local & foreign investors.” A Specialized Course In The Work Of Exchange & Brokerage Companies (A, B, C). Reference to the circulars of the Directorate of Supervision of Non-Banking Financial Institutions in Nos. 3/3/33 and 15/3/33 dated 1/21 & 3/13/2024 to oblige all licensed exchange companies under categories (A, and brokerage companies under category (C) Buying & selling foreign currencies, all approved by obtaining a specialized certificate in the work of their companies … for more uncles & a list of names of candidates

Here's some articles of GCR interests... -BRICS Poised To Dominate WB & IMF, Says Russian Executive Director. -Iran’s Proposal to Link BRICS Payment Systems Under Review, Says Russian Official. -US economic growth increased last quarter to a healthy 2.8% annual rate. Treat as rumors. Not verified. Your opine. FROM OTHER SOURCES: BRICS Poised To Dominate WB & IMF, Says Russian Executive Director. ARTICLE: The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank & the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic & demographic changes away from Western dominance. He emphasized the importance of working patiently toward this goal & resisting provocations from those upholding the old global system. -BRICS to Dominate Global Financial Institutions, Says World Bank Executive Director for Russia. Roman Marshavin, WB Executive Director for Russia, said in an interview with TASS this week that BRICS nations will soon control the World Bank & the International Monetary Fund (IMF). Marshavin has represented the Russian Federation & the Syrian Arab Republic at the World Bank Group since November 2018. -BRICS Considers Iran’s Proposal to Link Payment Systems of All Member Countries, Says Russian Official. The BRICS economic bloc is considering Iran’s proposal to link all member nations’ payment systems, according to Russian Deputy Foreign Minister Andrey Rudenko. The proposal aims to enhance BRICS countries’ financial sovereignty by establishing a resilient and sanctions-resistant payment infrastructure. Discussions include integrating financial markets, payments in national currencies & new mechanisms for mutual financial settlements. -Iran’s Proposal to Link BRICS Payment Systems Under Review, Says Russian Official. Members of the BRICS economic bloc are discussing Iran’s proposal to link all their national payment systems within the group’s framework, Russian Deputy Foreign Minister Andrey Rudenko revealed in an interview with TASS this week. -US economic growth increased last quarter to a healthy 2.8% annual rate. The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers & businesses helping drive growth despite the pressure of continually high interest rates. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s total output of goods & services — picked up in the April-June quarter after growing at a 1.4% pace in the January-March period. Economists had expected a weaker 1.9% annual pace of growth. The GDP report also showed that inflation continues to ease, while still remaining above the Federal Reserve’s 2% target. The central bank’s favored inflation gauge rose at a 2.6% annual rate last quarter, down from 3.4% in the first quarter of the year. Excluding volatile food & energy prices, so-called core PCE inflation increased at a 2.9% pace. That was down from 3.7% from January through March. Luigi's opine: Did the Democrats devise new formulas for calculating GDP, inflation & unemployment numbers to make it appear the US economy is much healthier than actually is? In 2021, Biden approved of a new formula to calculate new unemployment claims, tweeked GDP numbers. Who in Washington are relinquishing control of WB & IMF to Russia & Iran. Can Iran be trusted with control of all this money to finance terrorism around the world?

Here's an article of Dinarian interests....(re-posted). -A US - China Con Job in the making. -Why the FIAT Dollar Could Suddenly Begin Collapsing. - Turkey’s foreign minister to travel to Russia on Monday for a meeting with BRICS representatives. Treat as a rumor. Not verified. Your opine. Danboom: “US Debt Paid off?” ARTICLE: Will the DS of the USA, INC. claim that they are back in business & no longer in bankruptcy with their Debt Finally Paid Off by the Chinese Elders? The US & other countries’ debt has just been paid off by the Chinese Elders.” Does China now own the USA? With the planeloads of gold seized back by Trump will the DS of the USA, INC. claim it is now theirs? When will we actually see the results of this as are we to wait months on end before this is out in the open or is the EBS going to happen soon? Maybe I am missing something here or will the DS try to use what Trump, the White Hats & the Chinese Elders have done & con 'We The People' into believing that things have been settled for the good & the Democrats are to stay in office as Biden had everything to do with this while he was in office & it just had to wait till 2024 to then be revealed to us? Unless Trump can get this going this coming week or much in the month of June then 'We The People' will then just believe that it is all lies as it is coming out as lies one after another. My close friend still does not believe in all this RV foreign currency exchange, NESARA, QFS, GCR, BASEL III compliance, IRS & Federal Reserve shut down, the planeloads of gold seized back by Trump or any new currency that is to come about as he believes the FRN is what is keeping the banking system going. I have disagreements with him & cannot talk much about of the details. MikeCristo8: Why the FIAT Dollar Could Suddenly Begin Collapsing. ARTICLE: If you want to understand why the fiat Dollar could begin to suddenly collapse starting tomorrow is Turkey (and the rest of the world, poor countries) will be offered a better ER to replace their Dollar reserves with China’s RMB digital gold token in the oil trade. It’s strictly business for the reason why the FIAT Dollar may suddenly collapse. -BRICS News: JUST IN: Turkey’s foreign minister to travel to Russia on Monday for a meeting with BRICS representatives.

Here's an article of Dinarian interests... BRICS are developing a new currency to topple the USD. Will this event kick off the GCR. Treat as a rumor. Not verified. Your opine. From Other Sources: BRICS NEW REPORT: A Common Currency, New BRICS AI Center, New Members. Everything Changes Forever. ARTICLE: In the intricate landscape of global geopolitics, the seeds of BRICS were sown back in 2001, yet it wasn't until 2009 that this powerhouse coalition officially solidified its presence with the inclusion of Brazil, Russia, India & China. South Africa added its weighty influence to the mix in 2010. Even before the recent expansion, these formidable nations collectively wielded significant economic clout, accounting for approximately 26% of the world's wealth & boasting a population share of nearly 41% by 2023. Fast forward to a pivotal moment in South Africa, where the BRICS summit of 2023 set the stage for a monumental shift. Amidst deliberations, a bold decision emerged: to extend invitations to five new nations to join the BRICS fraternity. Among the chosen were Egypt, Ethiopia, Iran, Saudi Arabia & the United Arab Emirates. Argentina, too, received a coveted invitation, though regrettably declined under the helm of its new leadership. At the heart of the discourse during the initial rendezvous in South Africa was Iran's fervent advocacy for advancing discussions on banking & payments, with particular emphasis on the realm of digital currency. Notably, BRICS found itself in the unique position of hosting both Russia & Iran, nations grappling with Western sanctions, thus amplifying the discourse around alternative payment systems. The notion of a common digital currency among BRICS nations had been circulating within diplomatic circles for some time. While the idea had been somewhat downplayed during the previous summit in August, with a preference for leveraging local currencies in trade transactions over the ubiquitous USD, Iran's advocacy hinted at a potential resurrection of the common currency dialogue. However, Russia, assuming the role of BRICS chair, had expressed reservations regarding the feasibility of such a unified currency system prior to the expansion. With an influx of interest from 20 to 30 prospective member states & existing BRICS constituents eager to broaden the coalition's reach, the prospect of transformative change looms large on the horizon. Delving deeper into the realm of trade dynamics, Mehdi Safari, the Iranian Deputy Foreign Minister entrusted with economic affairs & the nation's BRICS Sherpa, articulated a vision for a paradigm shift towards the utilization of national currencies within BRICS. Anticipating positive strides in key economic and financial domains, Safari underscored Iran's proactive stance in engaging with BRICS initiatives throughout the year. Meanwhile, Egypt, newly inducted into the BRICS fold, expressed a fervent desire to fortify ties with existing members, recognizing the potential for mutually beneficial collaboration. Hala al-Said, the Planning Minister, unveiled plans to bolster trade volumes, a sentiment echoed in discussions with Dilma Rousseff, President of the New Development Bank, aimed at augmenting cooperation between BRICS & the NDB. Against this backdrop of burgeoning economic interdependence, Egypt's accession to BRICS heralds a strategic maneuver to alleviate its chronic foreign currency shortages, charting a course towards reduced reliance on USD transactions & an influx of fresh investments, albeit with a recognition that tangible benefits may materialize gradually over time. Beyond economic imperatives, BRICS aspires to wield influence on the global political stage, challenging the prevailing Western-dominated order epitomized by institutions like the World Bank & the IMF.

Here's an article of Dinarian interests... USD dominance & global oil control comes to an end. Treat as a rumor. Not verified. Your opine. From Other Sources: BRICS Control 47% of Global Oil, U.S. Owns Just 2.1%. ARTICLE: Saudi Arabia officially joined the BRICS alliance on Wednesday becoming the first large oil-producing country to enter the bloc. BRICS initiated a power move with Saudi Arabia’s inclusion as they now control nearly half of the world’s oil output. The development puts the US prospects in peril as America only holds a fraction of oil compared to BRICS. The stakes are high and if BRICS start accepting local currencies for oil payments, the US Dollar will plummet. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for oil trade. The ball is now in the BRICS’ court and their next decisions could make or break the prospects of the USD. Also Read: BRICS: China Pushes Yuan in Africa, Reduces US Dollar Debt Repayment Saudi Arabia17% Russia12% Iran9.5% UAE5.9% China1.5% Brazil1% India0.3% Total47% Saudi Arabia recently confirmed that the Kingdom is ready to accept local currencies if other developing countries wish to pay. However, oil settlements in local currencies are not yet initiated and the US dollar is used for payments. Nonetheless, the risk of sidelining the US dollar for oil payments remains high as BRICS kickstarted the de-dollarization process. NOTE: Venezuela & Iraq are set to join BRICS by mid-year. BRICS will then control 85% of all global oil reserves. LUIGI's opine... China will be positioned to set global oil prices & take full control the USD & the entire US economy. China Joe has allowed this by completely devastating the coal, natural gas & oil complex. Trump, as president, can reverse this trend by reviving the US coal, natural gas & oil industries & save us from China's control over our destiny. China Joe has got to go. He is the Traitor In Chief. He has set America up to fail. IMHO.

Here's an article of Dinarian interests... There are pros & cons to Iraq joining BRICS. Iraq shouldn't rush in to joining BRICS...economist warns. At This time, Iraq does not meet all the requirements. Treat as a rumor. Not verified. Your opine. Ali Al-Hamdani: What Are Iraq’s Chances Of Joining BRICS? And What Are The Consequences? ARTICLE: Iraq faces many obstacles that hinder its opportunity to join the BRICS group, despite the availability of most of the conditions that require joining this group, which constitutes a competitive pole for the United States of America, according to economic experts who spoke to a news network. The BRICS group is a global economic bloc that seeks to break the hegemony of the West. The idea of establishing it began in September 2006, when the first ministerial meeting of the foreign ministers of Brazil, Russia, India & China was held on the sidelines of the United Nations General Assembly in New York. This bloc includes 5 countries that are considered to have the fastest economic growth in the world: Brazil, Russia, India, China & South Africa. The word “BRICS” in English is an abbreviation that includes the first letters of the names of these countries. The BRICS group has become one of the most important economic blocs in the world, due to the growth numbers that the countries of this bloc have achieved over the years, which has made it the focus of attention of many other countries, which continue to want to join the bloc. Conditions For Joining BRICS: Joining the BRICS group requires the fulfillment of several conditions, the most prominent of which is that -1- “the country’s economy be a major one in the region & that it has the potential for economic growth in the future,” according to the economist, Dr. Nabil Al-Marsoumi. Among other important conditions, Al-Marsoumi adds to (Al-Mada), -2- “the country must have an independent & stable political system & that the state be fully sovereign & have a strategic location that allows it to be a focus in global trade.” The economist stresses another condition, which is that -3- “the country should not be hostile to one of the main countries of the group & that it has close relations with them.”

Here's some articles of Dinarian interests... MIA...where's the US when it comes to Iraq Trade Deals? Another US golden opportunity squandered away. Brain dead OBiden allows another investment opportunity to slip through his fingers. Could this have a direct effect on our ER? The world rushes in to invest in Iraq as US is left in the dust. BRICS nations are leading the charge, investing in Iraq. Treat as a rumor. Not verified. Your opine. TNT via CandyKisses: Deputy: 10 Countries Expressed Their Desire To Invest In The Iraqi Development Path. ARTICLE: MP Baqir al-Saadi said, on Monday, that there is a desire by 10 countries to invest in the Iraqi development road. Al-Saadi said in an interview with Al-Maalouma that “Iraq’s strategic location as a link in an important geography in the global transport map allows it high flexibility in attracting large investments, especially with the presence of large development projects.” He added, “The development road, which was recently announced by Prime Minister Muhammad Shia Al-Sudani, will be the most important development project for Iraq after 2023, as it will achieve great benefits in regional & international openness & the transfer of part of the movement of goods towards the country’s ports on their way to Europe through Turkey & the possibility of creating other branches.” He pointed out that “10 countries have expressed their desire to invest in the Iraqi development road & there is interest from other countries, pointing out that the launch of the project means important messages, most notably security stability & the return of Baghdad to play a pivotal role in the Middle East.” This is exciting! The more the merrier and the sooner we can RV so their contracts can start! CandyKisses: Iraq Trade Stats Released. ARTICLE: Statistical: Iraq achieved the largest trade surplus in 2022 over ten years. Statistics conducted by the German company Statista specialized in market & consumer data revealed that Iraq achieved the largest trade surplus for the past year 2022 over the past ten years.

Here's an URGENT article of Dinarian interests... Calls For Iraq’s Accession To “BRICS” Parliament called on the government to submit a request to join the international BRICS group. Treat as a rumor. Not verified. Your opine. Tlm724 Administrator Bondlady’s Corner: Calls For Iraq’s Accession To “BRICS” ARTICLE: Al-Moussawi, a representative of the Sadiqoon Parliamentary Bloc, called on the government to SUBMIT a request to join the international BRICS group. Al-Moussawi said in a statement, “Part of the importance of the BRICS group is its possession of oil, wheat & widely used minerals such as iron, or rare metals used in technological industries.” She added, “Iraq’s accession to the BRICS group, similar to the accession of Arab & regional countries, comes due to its utmost importance for the Iraqi economy in getting rid of the dominance of the USD & liberating the country from Washington’s financial & trade restrictions.” She pointed out that “the BRICS group has become one of the most important economic Blocs in the world, due to the growth figures achieved by the countries of this Bloc over the years, which has made it the focus of attention of many other countries.” It is noteworthy that the BRICS group & the countries currently under its banner, which are Russia, China, India, Brazil & South Africa, present themselves as an economic Bloc that seeks to break the dominance of the West over the global economy & many economists expect that it will be a symbol of the fastest growing economies in the world in the near future. BRICS is a global economic Bloc whose idea of establishment began in September 2006, when the 1st meeting of the foreign ministers of Brazil, Russia, India & China was held on the sidelines of the United Nations General Assembly in New York. This group has become one of the most important economic Blocs in the world, due to the growth figures it is achieving. The countries of this bloc over the years, as they aim to become a global economic power capable of competing with the Group of Seven “G7” (G7), which accounts for about 60% of global wealth.

Here's an article of Dinarian interests... The BRICS Summit is underway. BRICS & Saudi Arabia urges Iraq To Abandon The USD. Treat as a rumor. Not verified. Your opine. FROM OTHER SOURCES: The BRICS Summit Is Underway. ARTICLE: An International Group Discussing Reducing Dependence On The Dollar Arab & international. South African Vice President Paul Machattel stressed the importance of the “BRICS” summit held this week in Johannesburg & revealed the main issues to be discussed. He pointed out that representatives of the “BRICS” countries (Russia, Brazil, India, China & South Africa) will focus in today’s meeting mainly on discussing reducing the group’s dependence on the Dollar. He stressed that “BRICS” will discuss the issue of increasing payments among its members in national currencies. The 15th BRICS summit kicked off, where the summit will discuss the issue of accepting new members & developing an economic, trade & financial plan for the bloc. South Africa, which chairs the summit this year, said more than 20 countries, including Algeria & Saudi Arabia, had applied to join the group. The presidents and leaders of Brazil, China, India & South Africa will meet, while Russian President Vladimir Putin will participate via video technology in the summit held under the slogan “BRICS & Africa”. Moscow will be represented at the event in the personal presence of Russian Foreign Minister Sergey Lavrov. In The Document.. The CBI Determines The Exchange Of The Dollar For Travel Purposes. The CBI set the Dollar ER for banks & exchange companies authorized to sell the Dollar for cash for travel purposes.

Here's an article of Dinarian interests... Will US sanctions on Iraq drive it to BRICS. Treat as a rumor. Not verified. Your opine. From Other Sources: 44 Countries Now Interested in Joining BRICS As Multipolar World Takes Shape: Report. ARTICLE: Anlil Sooklal, South Africa’s top diplomat in charge of relations with the bloc, tells Reuters that on top of the 22 countries that have already formally asked to join, there is “an equal number of countries that have informally expressed interest in becoming BRICS members including all the major global south countries.” At a summit next month, the main topic on the agenda will be how far and how fast to expand the coalition, which is currently only officially made up of Brasil, Russia, India, China & South Africa, but is now dealing with a large lineup of interested entities, including Argentina, Iran & Saudi Arabia. In a new interview with Russian government-backed RT, Sookal said he and others working within the group have been tasked with prioritizing and organizing an expansion effort for the alliance over the last year or so. Sookal said that BRICS leaders would be meeting this month to discuss the details on how to welcome more countries into their circle.

18 Oct 2016 Bruce... Bruce: As you know while back, since the Paris Agreement was passed and implemented, we think we are noticing the BRICS had a meeting yesterday. During that meeting they were adjusting rates of the ZIM and possibly other currencies as well. We did hear increases of rates in the first basket. 3 rates: 1st Rate: Market rates or bank rates which is the lowest rate. 2nd Rate: Contract rate. Could be higher or lower for people already in a contraction agreement say as part of a group already. 3rd Rate: Private Negotiable Rate or PNR. Banks asked us not to use the term Sovereign rates. That term used for countries not us. Privately Negotiable Rate based on your ability to perform in a humanitarian way a good number of projects to put together. Jobs, increasing employment opportunity for people.