Wednesday, May 8, 2024
The Federal Court issues a decision regarding the postponement of the election of the Speaker of the House of Representatives, 8 MAY
Alsumeria News – Politics
The court said in a statement received by Sumaria News, that it “issued its decision No. (86 / Federal / 2024), which includes the ruling that paragraph (2) of the House of Representatives’ decision taken in the second session on 27/1/2024, which includes postponing the election of the Speaker of the House of Representatives until the decision is decided on the cases by the judiciary.”
The coordination framework, on Monday, gave the Sunni blocs in the Iraqi Council of Representatives one week to resolve the file of electing a president of the council.
QUESTION TO MARKZ , 8 MAY
MarkZ
[via PDK]
Question: A CPA told me if the currency is purchased to make money, it may be taxable. What do you think or know about that ?
MarkZ: ...we have 2 different articles from the state department/government sites on taxes. “There are no taxes or subsidies on the purchase or sales on foreign exchange” and they mention Iraq and Vietnam.
One is from 2022 and the other one is earlier. Sounds like to me there are no taxes or subsidies on the purchase or sales on foreign exchange!!! This is of course if no laws change.
[Dinar Guru Note: Consult your tax professional at the appropriate time to determine the correct tax for your unique situation. In the end the only opinion on taxes that matters is the IRS's.]
BRICS: India & Nigeria Finalize Major Partnership Ditching US Dollar, 8 MAY
BRICS: India & Nigeria Finalize Major Partnership Ditching US Dollar, 8 MAY
BRICS member India finalized a major trade partnership with Nigeria on Friday switching away from the US dollar. Both countries will use local currencies in the bilateral trade agreement for energy, pharmaceuticals, and transport sectors. India and Nigeria have agreed to cooperate and settle trade in local currencies and not the US dollar.
However, the local currency in question is yet to be finalized and could be either the Indian rupee or the Nigerian naira. The agreement comes at a time when BRICS is looking to uproot the US dollar as the world’s reserve currency. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.
India and Nigeria’s latest trade agreement extends cooperation in the sectors of energy, pharmaceuticals, and transport. The delegation from India to Nigeria included officials from the Reserve Bank of India (RBI), EXIM Bank of India, and the National Payments Corporation of India (NPCI).
Also Read: BRICS: 11 Currencies Dip Against the US Dollar
“Both sides agreed to the early conclusion of the Local Currency Settlement System Agreement to further strengthen bilateral economic ties,” the ministry said. The move shows that BRICS nation India is keen on ending reliance on the US dollar to boost the rupee’s prospects.
Nigeria is India’s second-largest trading partner in Africa and has expressed interest in joining BRICS. Trade between the two countries stood at $11.8 billion in FY 2022-23. In 2023-24, the bilateral trade between India and Nigeria stood at $7.89 billion. BRICS is advancing to put local currencies ahead of the US dollar in most of their trade and transactions.
Also Read: U.S. Google Moves Jobs to BRICS Countries
If the development continues on a larger scale, the US dollar will remain in jeopardy. Also, the BRICS alliance revealed that the de-dollarization agenda is a long-term plan, therefore the next decade will be challenging for the US dollar.
"RV UPDATE" BY TEXAS SNAKE, 8 MAY
TEXAS SNAKE
While being a member of the WTO is important. listing on the FOREX is much more critical to us waiting to exchange and with the various potential valuations being suggested we will need to see if the RV rate is initially published on the front screen or the back screen for the CBI to allow for there to be a float upwards in value which IMO would be beneficial to us to realize a greater value, but either way we would realize a gain over cost of acquisition.
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Texas Snake, [05/07/2024, 12:17:30 a. m.]:
My prayer is I have only begun to help, my goal is to offer alternatives on how to invest your funds so yiou never experience the fate of a lottery winner and be broke in aa couple of years. Ideas you can suggest to your wealth manager to design an infinate banking program designed o meet your personal goals and objective and keep many future generations in positive financial circumstances.
Won't take long due to price of oil
Well My news is shared so will see everyone tomorrow, hopefully with some really good news, GOD Bless everyone.
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