Wednesday, August 7, 2024
Evening News with MarkZ, joined by Zester. 08/07/2024
RV UPDATE BY GOLDILOCKS, 7 AUGUST
The Shanghai Exchange Corporation and Russia are working on a BRICS payment system. Watch the water. …Goldilocks https://tass.com/economy/1824025#amp_tf=From%20%251%24s&aoh=17228107385705&referrer=https%3A%2F%2Fwww.google.com&share=https%3A%2F%2Ftass.com%2Feconomy%2F1824025 https://unitingtocombatntds.org/en/get-involved/events/brics-summit-2024/
- This new International Digital Payment System is expected to be discussed at the BRICS summit on October 22nd through the 24th of 2024.
- After discussions during the summit, Russia in cooperation with a Shanghai Exchange Corporation will begin the implementation process of moving the trading world into a new payment system. Remember, this is over 80% of trade that takes place around the world on the water, and it has the power to influence exchange rates.
- Many countries are already beginning to join the BRICS Nations as trading partners utilizing a gold standard in trade to level the playing field. Other countries will be added as we go along.
- This is expected to change the Global Financial system in a profound way especially in the area of currency valuations being traded locally instead of through the dollar as the World Reserve Asset.
- From that point on, we can expect changes to begin processing themselves AS the BRICS Nations begin to mobilize their new payment system.
- I am not calling an RV date at that time, but I will say that price pressures on new currencies being utilized on the market will begin to show signs of new movement.
Coffee with MarkZ. 08/07/2024
Rafidain announces the implementation of the comprehensive banking system in 37 branches, 7 AUGUST
Rafidain Bank announced today, Wednesday, the implementation of the comprehensive banking system in 37 branches.
The media office of Rafidain Bank stated in a statement received by the Iraqi News Agency (INA), that "in implementation of the government program to move from paper transactions to electronic ones to provide the best services to citizens, the comprehensive banking system was applied in the Al-Amir neighborhood branch in Najaf and the Kut branch, thus joining the branches in which the comprehensive system was activated in Baghdad and the governorates in addition to the branches of the border crossings (Zurbatiya - Safwan - Arar - Trebil) so that the number of branches in effect and completed for the system becomes (37) branches."
He added, "This important step came to strengthen the banking system, meet its requirements, and move away from paper work and towards completely electronic systems."
He added that "the plan for digital transformation and adoption of the comprehensive banking system is proceeding according to the set timetables to include all bank branches in implementing the system, especially since the priorities and adoptions of the government program include electronic transformation in financial transactions, reducing the circles of routine for citizens, shortening time, simplifying procedures, overcoming obstacles, and intensifying efforts to improve the level of services provided to customers and completing their transactions." link
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