Economist Jim Rickards Highlights Gold's Opportunity During Market Meltdowns, 9 AUGUST

 "Gold is being profiled as a relevant investment option in economic uncertainty and market instability times. Jim Rickards, a U.S. economist and best-selling author of books like “Currency Wars” and an opinion contributor to several newspapers and publications including The New York Times and The Washington Post, has referred to the investment opportunity that gold presents during acute market setbacks."

"In social media, Rickards reinforced its solid opinion of gold as a hedge against market instability, predicting the price movement of the precious metal during these events."

Rickards says, "In a stock market meltdown, gold goes down due to selling by weak hands who need cash for margin calls. The strong hands take a beat, wait for a bottom. Then they jump in with both feet because they know it’s way up from there."

"Rickards has been analyzing gold’s position in today’s economy, stating that the metal might be used in case of a global currency meltdown to re-establish the gold standard, with many countries, including the U.S., purchasing gold to support the value of their currency."

"Nonetheless, while some markets rebounded after Monday’s meltdown, gold continued to trade down, losing the $2,400 mark. Even after slipping down, gold prices are still almost 15% up during 2024, reaching historic high levels just some days ago."

"According to the World Gold Council, demand is expected to maintain the next year supported by central bank gold purchases for portfolio diversification and protection purposes."

@ Newshounds News™

Source:  Bitcoin

Implementation of the Quantum Financial System (QFS) OF WELLS FARGO, 9 AUGUST

 MR POOL

Implementation of the Quantum Financial System (QFS)

1. Integration with existing banking services: Wells Fargo plans to seamlessly integrate QFS with its existing banking services, allowing customers to easily transition to the new system. This involves upgrading your infrastructure to support QFS technology, ensuring a seamless, secure and efficient banking experience.

2. Training and specialization of staff: The bank is investing in the comprehensive training of the professionals in its financial department who will manage the QFS. This ensures that a team is well versed in the complexities of the system and can provide expert support to customers during the transition.

3. Enhanced security measures: By requiring transactions to be monitored by people with Treasury or Homeland Security identification, Wells Fargo is prioritizing the security of its customers' transactions. This measure aims to inspire confidence in the integrity of the system and the bank's commitment to safeguarding financial assets.

4. Customer Education: Recognizing the importance of customer familiarity with the QFS, Wells Fargo is implementing educational programs. These initiatives aim to inform customers about the benefits of QFS, how it works and how it can improve their banking experience.

Iraqi Dinar News Today | Predictions and Insights on the Upcoming HCL An...

Iraqi Prime Minister inaugurates Al-Dibis Gas Power Plant in Kirkuk, 9 AUGUST

 Shafaq News/ Iraqi Prime Minister Mohammed Shia Al-Sudani inaugurated the Al-Dibis Gas Power Plant in Kirkuk Governorate via video conference, with a production capacity of 320 megawatts.

Previously, the General Company for Northern Power Production announced that the second unit of the plant had been commissioned and connected to the national grid. Work is also continuing on the first unit, with plans to increase the plant's total capacity to 320 from 160 megawatts.

Notably, the Al-Dibis gas plant is part of a contract signed by the previous Iraqi government with the United Nations under the Oil-for-Food Program, which was completed with the assistance of Iran's cyber company.

LATEST FROM JON DOWLING, 9 AUGUST

 JON DOWLING

Upcoming Meeting in New York

The Governor stated that "meetings will be held with the Federal Reserve and the U.S. Treasury Department at the end of August to review all aspects related to external transfer operations and discuss sanctions on certain banks." 

He noted that "what was expressed in previous discussions and interpretations during the last meeting in Washington was not, in fact, the quarterly meeting, nor did we meet with the Federal Reserve. 

Instead, we attended other meetings, including a visit to the U.S. Treasury Deputy Secretary, which was a routine encounter that addressed general matters and confirmed the Central Bank's success in leading its initiatives, including external transfers and the cash sale of dollars, which have also been developed to facilitate dollar access for travelers."     https://ina.iq/eng/34044-ina-discusses-with-the-cbi-governor-the-files-on-exchange-rates-foreign-transfers-and-housing-initiatives.html

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Once again, for those who are skeptical, cynical, or just didn’t see it or believe it, here is proof the federal reserve is tucked into the Treasury Department. You can see by the wording and the seal changed as well from the Federal Reserve to the Treasury seal predominating. This will all come out publicly once President Trump returns optically. 

@JonDowling

‘Significant Fed Pivot’ Soon, This Asset To Skyrocket | Levi Gunter

Iraqi lawmaker: Investigation ongoing into CBI's governor's extended interim appointment, 9 AUGUST

 Shafaq News/ Hadi Al-Salami, a member of Iraq's Integrity Committee, disclosed on Thursday that his committee has been investigating the prolonged appointment of Ali Al-Allaq as Governor of the Central Bank of Iraq (CBI) for over a year. 

Al-Salami told Shafaq News Agency that the committee had repeatedly urged Prime Minister Mohammed Shia Al-Sudani to "terminate Al-Allaq's interim appointment due to numerous alleged violations," emphasizing that the government's agenda, as outlined by the Prime Minister during the formation of the government, mandates the termination of acting positions within six months. "Despite this, Al-Allaq continues to hold the position without any official action to end his appointment."

The Integrity Committee has referred several issues concerning CBI to the Integrity Commission and the Public Prosecutor. These issues include alleged mismanagement of exchange rates and concerns over substantial sums of money and benefits accruing to various Arab and foreign banks, including those from Jordan.

Al-Salami also revealed that the "Acting Speaker of the Parliament has agreed to host CBI's Governor in upcoming sessions," indicating that "numerous questions will be posed to Al-Allaq during this session."

In response, Al-Allaq stated to the Iraqi News Agency that meetings are scheduled with the Federal Reserve and the US Treasury Department at the end of August. "These discussions will focus on external transaction processes and the sanctions imposed on certain banks."

Al-Allaq defended his leadership, asserting that "the Central Bank has successfully managed external remittances and the sale of dollars."