Rubem Baz said, “At 15:30 Brazilian time on Tues. 17 Sept. was the last procedure between Brazil and Reno (USA).
Tomorrow Wed. 18 Sept, after 11:00am invitations to go to the bank will be sent. In 48 hours (Fri. 20 Sept.) we will go liquid. This portion is 1%. Finally there is nothing left to do. Payments will now begin.”
…“Things are defiantly happening behind the scenes.
We are going to be celebrating this week. There are things that I can’t say, but I wanted you to know that things are defiantly moving.” …
“I agree with Mr Salvage report on German Bastidas who is one of the leaders of the Pentecostal Group. They have now finished all the contracts with the Call Centers which are located in Brazil.
On Mon. 16 Sept. 2024 notifications began to be delivered. On Tues. 17 Sept. 2024 they closed the platforms and were ready to begin start the blessing. They will begin sending the transactions from the 1st to the 2nd of October to each member.”
The Minister of Finance, Taif Sami, signed with the Austrian Ambassador to Baghdad a loan financing agreement from the Austrian Erste Group Bank to support the center pivot irrigation systems project for the Ministry of Agriculture, with a value of (262,155,298) euros, and implemented by the Austrian Power Company .
And she said
Ministry of FinanceIn a statement received by Sumaria News, “The agreement is consistent with the strategy
NationalFor Iraq to strengthen infrastructure and public services, and aims to revive the agricultural sector, alleviate water scarcity, stimulate economic growth, and create jobs, the loan is part of a broader approach for Iraq to obtain external financing for investment projects with economic benefits, as outlined in the 2023-2025 budget and the decision
councilMinisters No. 24630 of 2024.The Minister stressed the “importance of this agreement in enhancing economic cooperation between
IraqAustria, looking forward to more joint projects in the future, will provide
a company(Power) provides technical and advisory support to the Iraqi Ministry of Agriculture throughout the project life cycle, including design, implementation, operation, and maintenance.She pointed out that “the project represents a vital step towards modernizing the agricultural sector in Iraq, especially in light of the challenges of water scarcity and climate change, and is expected to achieve long-term economic benefits by increasing agricultural production and reducing dependence on imports.”
The “monetary easing” journey began in most central banks around the world, after the US Federal Reserve lowered the federal funds interest rate, and many banks followed suit, including the Gulf countries .
On Wednesday, the US Federal Reserve cut federal funds rates by 50 basis points to a range of 4.75% – 5%, in the first cut since March 2020 .
Immediately, the central banks in the Arab Gulf states announced a reduction in interest rates by varying percentages, following the US Federal Reserve in reducing them, amid expectations of further monetary easing in the coming months .
US and global markets feared that cuts of less than 50 basis points would stoke fears of a further slowdown in the already sluggish US labour market .
The Central Bank of the UAE decided to reduce the “base rate” on overnight deposit facilities by 50 basis points to 4.90 percent, while the Saudi Central Bank announced a reduction in the repurchase agreement (repo) rate by 50 basis points to 5.50 percent, and a reduction in the reverse repurchase agreement (reverse repo) rate by 50 basis points to 5 percent .
Qatar Central Bank also decided to reduce interest rates by 55 basis points on deposits, lending rates and repurchase (repo) rates to 5.20 percent, 5.70 percent and 5.45 percent respectively .
The Central Bank of Bahrain announced a reduction in the interest rate on overnight deposits by 50 basis points from 6.00 percent to 5.50 percent
.
Meanwhile, the Central Bank of Kuwait decided to reduce the discount interest rate by 25 basis points from 4.25 percent to 4 percent .
What does the decision mean?
The decision to lower interest rates means that the markets will witness more money being pumped into the US and global markets alike, especially since the dollar is a global payment, trade and investment currency .
With the reduction of interest rates on the dollar, central banks whose currencies are pegged to the dollar, and even those that are not pegged to it, will follow the same direction as the Federal Reserve, to keep the attractiveness of their currencies strong against the dollar by moving in one direction with the movement of interest rates on the dollar .
In this case, several factors will occur that will stimulate markets and investment, most notably that the world will witness more borrowing due to the decline in interest rates, after nearly two and a half years of high interest rates .
More borrowing means that cash will go either towards investment or consumption, or both, and ultimately contribute to increased production, consumption and employment
.
Another issue is that a mass of money that was deposited in banks by individuals and companies and on which they were receiving monthly or annual returns will leave the banks, either to be invested directly, or to buy shares or gold .
This applies to most global markets, which have seen negative expectations from the International Monetary Fund regarding a slowdown in their economic growth this year, due to the negative economic mood and geopolitical tensions .
The third thing is that lowering interest rates under the current conditions of the US economy will be positive for investors, and since the US economy is the largest in the world and constitutes about 24 percent of the global gross domestic product, the health of the economy will be reflected in global markets.
“Banks got memos yesterday Tues. 17 Sept. telling them to get ready and be there this morning because it was scheduled between now and Fri. 20 Sept. The RV announcement should be by tomorrow Thurs. 19 Sept. There is a scheduled time but no one wanted to put it out. We are now waiting for the big announcement on the Fed rate. The Market will change with the Fed announcement. They want things to settle down and then will let the RV go. The rates are out. The Banks are ready. This should be our final call.”
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TNT UPDATE
GOOD MORNING TNT. TODAY IS WEDNESDAY SEPTEMBER THE 18TH 2024
I WAS THINKING WE WOULD DO THIS A LITTLE BIT DIFFERENT; BUT I DIDN'T TELL RAY
HERE IS THE GOOD NEWS.............THE TECHNICAL SITUATION HAS BEEN RESOLVED.Sep 18
BANKS GOT MEMOS YESTERDAY- THEY WERE SUPPOSED TO GET READY AND BE THERE -THIS MORNING, THE MESSAGE WAS GET READY BECAUSE IT WAS SCHEDULED FOR THIS MORNING
BETWEEN NOW AND FRIDAY - WE ARE NOW WAITING FOR THIS BIG ANNOUNCEMENT ON THE FED RATE AND WHAT IT WILL DO FOR THE ECONOMY
IT COULD GO WHILE WE ARE ON THIS CALL OR RIGHT AFTER - BUT THE RV ANNOUNCEMENT SHOULD BE TOMORROW MORNING; NOT FRIDAY
THERE IS A SCHEDULED TIME BUT NO ONE WANTED TO PUT IT OUT THERE
THE MARKETS SHOULD CHANGE IMMEDIATELY AFTER THE RATE CHANGE WHICH IT NORMALLY DOES Sep 18
MARKET WILL CHANGE WITH THE FED ANNOUNCEMENT. THEY WANT THINGS TO SETTLE DOWN AND THEN LET THE RV GO
WE WILL SEE AND WE ARE LIVE. THINGS GOING MINUTE BY MINUTE - I'VE GIVEN YOU ALL THE INFORMATION. THE RATES ARE OUT, THE BANKS ARE READY. HOPEFULLY, YOU ARE ALL READY
THE TEXTS AND THE EMAILS WILL GO OUT; YOU SHOULD BE PREPARED
I WAS TOLD WE WILL BE THE FIRST ONES TO GET THE INFORMATION FROM THE BANKING SIDE SOMEONE ELSE WILL ALSO GET IT - ANOTHER GURU.