The Latest Social Security Trustees Report Spurs Angst About The Program's Solvency
The Latest Social Security Trustees Report Spurs Angst About The Program's Solvency
Kerry Hannon·Senior Columnist Yahoo Finance Fri, May 17, 2024
Amid uncertainty around Social Security, here's what financial advisers are telling clients
Social Security isn’t shattered, but it’s shaky.
The new report on Social Security, which predicts that the combined retirement and disability trust fund reserves will go broke in 2035, has put more Americans on edge, especially those nearing retirement who are worrying about how much in benefits they can expect.
The 2024 Social Security and Medicare trustees report projects insolvency one year later than last year’s estimate. That scarcely brighter outlook stems from the strong economy and wage growth, which has ramped up payroll tax payments that fund the program. For now, low unemployment has meant that more workers are adding to the program, even while a rising number of baby boomers begin to tap their benefits, the trustees said.
The Latest Social Security Trustees Report Spurs Angst About The Program's Solvency
Kerry Hannon·Senior Columnist Yahoo Finance Fri, May 17, 2024
Amid uncertainty around Social Security, here's what financial advisers are telling clients
Social Security isn’t shattered, but it’s shaky.
The new report on Social Security, which predicts that the combined retirement and disability trust fund reserves will go broke in 2035, has put more Americans on edge, especially those nearing retirement who are worrying about how much in benefits they can expect.
The 2024 Social Security and Medicare trustees report projects insolvency one year later than last year’s estimate. That scarcely brighter outlook stems from the strong economy and wage growth, which has ramped up payroll tax payments that fund the program. For now, low unemployment has meant that more workers are adding to the program, even while a rising number of baby boomers begin to tap their benefits, the trustees said.
The potential depletion of the fund does not, however, translate to an empty till. There will still be money to pay benefits at that stage — though only 83% of what’s been promised to current and future beneficiaries. In other words, without a fix, beneficiaries could see a 17% cut in benefits.
“Congress is painting itself into a corner on fixing Social Security’s pending insolvency,” Mary Johnson, a Social Security and Medicare policy analyst, told Yahoo Finance. “Failure to act on the program in time would lead to automatic benefit cuts.”
How widely would that cut be felt? The program paid nearly $1.4 trillion in benefits last year to about 67 million Americans. For about half of seniors, Social Security provides at least half of their income, and for about 1 in 4 seniors, it accounts for at least 90% of income.
There are several solutions to fix the shortfall, including ratcheting up payroll taxes that fund the program, currently 12.4% split evenly by employees and employers. Other proposals include raising the retirement age for younger workers or lifting the cap on how much of a person’s income is subject to the Social Security tax. For 2024, the Social Security tax limit is $168,600.
Will Social Security be there for you?
One of people’s greatest retirement fears is a reduction in or elimination of Social Security in the future, according to research from the Transamerica Center for Retirement Studies. Seven in 10 people are concerned that Social Security will not be there for them when they’re ready to retire. And nearly 1 in 3 people rely on or expect to rely primarily on Social Security.
I talked to several experts about the advice they’re giving their clients on planning for Social Security as part of their retirement income. Here’s what they said:
1. Assume a reduced benefit
To Read More:
Iraq Economic News and Points to Ponder Saturday AM 5-18-24
Iraq Economic News and Points to Ponder Saturday AM 5-18-24
The International Monetary Fund Calls On Iraq To Cancel The “Appointments” And Correct Its Financial Conditions
Economy Iraq International Monetary Fund Debts in Iraq Iraq's debts Appointments file 2024-05-16
Shafaq News/ The International Monetary Fund stressed, on Thursday, the need for Iraq to gradually correct its financial conditions to achieve debt stability in the medium term and rebuild financial reserves.
This comes after the Executive Board of the International Monetary Fund (IMF) concluded Article IV consultations with Iraq and studied and approved the employee evaluation, before recommending control over public wages and the gradual abolition of compulsory employment, according to a Fund report seen by Shafaq News Agency.
Iraq Economic News and Points to Ponder Saturday AM 5-18-24
The International Monetary Fund Calls On Iraq To Cancel The “Appointments” And Correct Its Financial Conditions
Economy Iraq International Monetary Fund Debts in Iraq Iraq's debts Appointments file
2024-05-16 10:33
Shafaq News/ The International Monetary Fund stressed, on Thursday, the need for Iraq to gradually correct its financial conditions to achieve debt stability in the medium term and rebuild financial reserves.
This comes after the Executive Board of the International Monetary Fund (IMF) concluded Article IV consultations with Iraq and studied and approved the employee evaluation, before recommending control over public wages and the gradual abolition of compulsory employment, according to a Fund report seen by Shafaq News Agency.
It is expected that the next Article IV consultations with Iraq will be held in the standard 12-month cycle, according to the International Monetary Fund report and schedules.
In its statement, the Fund welcomed the strong economic recovery, the decline in inflation in Iraq to 4% by the end of 2023, and the improvement in domestic conditions that led to the implementation of the first 3-year budget. He stressed the
necessity of sound economic policies and structural reforms in Iraq to secure public finances and debts, given the regional disputes that may affect oil prices. He pointed to
the strong recovery in the non-oil economy in Iraq after a contraction in 2022-23, and that
Iraq was “largely” unaffected by the conflict in the region, pointing to the revaluation of the currency as of February 2023, and the return of trade financing to normal.
However, the imbalances were exacerbated by the significant fiscal expansion and falling oil prices.”
The Fund's report expected that the continued fiscal expansion would enhance growth in 2024,
at the expense of further deterioration in financial and external accounts and
Iraq's vulnerability to oil price fluctuations.
Without policy adjustment, the risk of medium-term sovereign debt stresses is high and external stability risks could arise.
Key downside risks include a significant decline in oil prices or the spread of conflict in Gaza and Israel.”
The executive directors agreed, according to the report, “with the thrust of the staff assessment, and welcomed the
strong economic recovery,
low inflation, and
improved domestic conditions
that led to the implementation of the first-ever three-year budget.
They noted that the risks were tilted towards the downside, given regional disputes and high dependence.” on the volatile oil prices, and that
a major financial expansion could lead to financial and external imbalances.” The directors also stressed “the
need for sound macroeconomic policies and structural reforms to
secure public finances and debt,
sustainability,
promote economic diversification, and
achieve sustainable and inclusive growth led by the private sector.” The Directors stressed that
“a gradual but significant fiscal adjustment is needed to stabilize debt in the medium term and rebuild fiscal safety margins.”
They encouraged the authorities to focus on
controlling public wage rolls,
phasing out compulsory employment policies, and
mobilizing non-oil revenues, with
Better targeting of social assistance. Directors agreed that
“immediate implementation of
Customs and Revenue Administration reforms,
full implementation of the Single Treasury Account,
strict oversight and limiting the use of extra-budgetary funds and
government guarantees
are essential to support fiscal consolidation.
Reducing cash financing and reforming the pension system are also important.”".
https://shafaq.com/ar/اقتصـاد/النقد-الدولي-يدعو-العراق-ل-لغا-التعيينات-وتصحيح-وضاعه-المالية
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
Provoking Thoughts and Points to Ponder on Advice :
It is well enough, when one is talking to a friend, to lodge in an odd word by way of counsel now and then; but there is something mighty irksome in its staring upon one in a letter, where one ought to see only kind words and friendly remembrances. - Mary Lamb
Men of much depth of mind can bear a great deal of counsel; for it does not easily deface their own character, nor render their purposes indistinct. - Arthur Helps
Have more than thou showest, Speak less than thou knowest. - William Shakespeare
What you don't see with your eyes, don't invent with your tongue. - Jewish proverb
If you keep your mind sufficiently open, people will throw a lot of rubbish into it. - William A. Orton
“Tidbits From TNT” Saturday 5-18-2024
TNT:
Tishwash: Al-Mandalawi opens the House of Representatives session today
The Speaker of the Parliament, Mohsen Al-Mandalawi, opened the work of Session No. (25) today, Saturday, in the presence of 183 representatives
Our correspondent: The bell of the House of Representatives rings a second time, marking the opening of the session to elect the Speaker of the House
The Presidency of Parliament decided to devote today’s session to electing the president only
The House of Representatives votes to extend its legislative term for 30 days
Our correspondent: The number of attendees during the House of Representatives session exceeded 218 deputies
Urgent | Members of the House of Representatives head to the Great Hall for the purpose of initiating the procedures for electing the Speaker of the House of Representatives link
TNT:
Tishwash: Al-Mandalawi opens the House of Representatives session today
The Speaker of the Parliament, Mohsen Al-Mandalawi, opened the work of Session No. (25) today, Saturday, in the presence of 183 representatives
Our correspondent: The bell of the House of Representatives rings a second time, marking the opening of the session to elect the Speaker of the House
The Presidency of Parliament decided to devote today’s session to electing the president only
The House of Representatives votes to extend its legislative term for 30 days
Our correspondent: The number of attendees during the House of Representatives session exceeded 218 deputies
Urgent | Members of the House of Representatives head to the Great Hall for the purpose of initiating the procedures for electing the Speaker of the House of Representatives link
Tishwash: The Sudanese advisor issues a clarification regarding the discussion of budget schedules in an extraordinary session
Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, clarified the discussion of the budget schedules in the extraordinary session of the Council of Ministers.
Saleh said, in an interview followed by Al-Iqtisad News, that “during the extraordinary session of the Council of Ministers, the financial tables will be discussed,” pointing out that “these tables will be approved by a decision of the Council of Ministers and then referred to the House of Representatives for approval, in implementation of the provisions of Article 77/ Secondly, from the Tripartite Federal General Budget Law No. 13 of 2023.”
During the last cabinet session, Prime Minister Muhammad Shiaa Al-Sudani directed that an extraordinary session of the council be held on Sunday to discuss the budget schedules link
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CandyKisses: The Regional Government announces the payment of employees' salaries through "My Account"
Baghdad - Iraq Today:
The Kurdistan Regional Government announced that more than 25,000 government employees have received their salaries through the "My Account" project.
The Information and Information Department of the Kurdistan Regional Government said in a statement that "employees who have bank cards that enable them to receive their salaries through ATMs, will receive their salaries successively until the end of next week."
The President of the Kurdistan Regional Government, Masrour Barzani, had previously confirmed that one million employees will be able to access banking services by the end of this year, and that access to financial services in the region will rise to 35% until late 2024.
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CandyKisses: Al-Hakim calls on Canadian companies to invest in the Iraqi market
Baghdad today - Baghdad
Today, Saturday (May 18, 2024), the head of the National State Forces Alliance, Ammar al-Hakim, called on Canadian companies to invest in the Iraqi market.
Al-Hakim's office said in a statement received by "Baghdad Today", "The head of the National State Forces Alliance met, today, Saturday, with Cathy Banka, Canada's new ambassador to Iraq," noting that "the meeting discussed developments in the political scene in Iraq and the region."
Al-Hakim stressed, according to the statement, "the importance of the achieved stability and its positive impact and repercussions on the security of Iraq and the region," stressing "the necessity of perpetuating this stability and transforming it into permanent stability, and we hold everyone responsible for achieving this goal."
He called for "noticing popular satisfaction with the government and the political forces supporting it," noting that "this satisfaction is the result of the government's vision and its service and development projects that citizens have begun to feel and live the details of their achievement. "
He stressed "the importance of developing relations with Canada," noting that "Iraq offers promising opportunities in the field of construction and reconstruction," calling for "investing these opportunities through the presence of companies in the Iraqi market."
Mot: . What in the World !!!!?????
Greatest Marriage Proposal EVER!!!........................
News, Rumors and Opinions Sat. AM 5-18-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Sat. 18 May 2024 Compiled Sat. 18 May 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Fri. 17 May Banker: “Word is to stay alert tonight into tomorrow. God only knows for sure.”
Thurs. 16 May Bruce: On Wed. 15 May one of the top people at Wells Fargo Bank said, “It looked good for a Shotgun Start in the next two days.” We may get the R&R (Restitution Allowances) beginning on the 4th Wed. of May, or by the end of May.
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Sat. 18 May 2024
Compiled Sat. 18 May 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Fri. 17 May Banker: “Word is to stay alert tonight into tomorrow. God only knows for sure.”
Thurs. 16 May Bruce: On Wed. 15 May one of the top people at Wells Fargo Bank said, “It looked good for a Shotgun Start in the next two days.” We may get the R&R (Restitution Allowances) beginning on the 4th Wed. of May, or by the end of May.
Fri. 17 May 2024 Wolverine: “Very silent today, not one ounce of intel, but what I did receive last night from a friend who has contacts in Brazil, a person who is very polished and professional person (speaks four languages fluently.
He said he was waiting for his group who were waiting at the bank for long hours. I got back to him later, nighttime my time, and morning for him, and he said he had no new updates. Then hours later, he came back with an audio, and he gave me 1000 percent confirmation that those people got their blessings.
Most people in Brazil are not hearing anything, they are saying no liquidity from anywhere. In my own thoughts, I think it is happening behind the scenes.
As I said before, they are paying sporadically and they sign NDAs, and will not say anything. I think that is what is happening, this person is a good friend of mine, who tells the truth.
They put the audio on the dragon family group, but I did not translate it, and they actually picked someone who spoke Spanish, and they translate it. That was the best way to go as I did not want the translation to come from me, that it came from another person.
Tomorrow, they tell me we should be getting news. Hopefully, we will get better news. The audio really hit me yesterday, as it was a 1000% confirmation, and it will continue on to two other cities in Brazil on Monday.
I did send it to someone else in Brazil who were very emotional hearing it hoped it was true. Not much that I can tell you. I have been told that Iraq (sick of Iraq ) on Sunday, they should be able to put the rate on Forex. We will see if it true or not.
Notifications were to come last night, that is what I was told, again, no notifications. Very stressful for all of us. Notifications is our announcement and then I can release the opera for you.
This is my personal opinion – there might not be an announcement. Now a certain person said that statement was true. BUT, it was MY Opinion (saying there might not be an announcement). I think we may get paid sporadically, and lots going on behind the scenes.
I have heard of people getting paid, and I do not know those people, but I do know the person in the audio. It might be that people get paid, they sign their NDA and they stay quiet.
Good for our safety in IMO. I think that is the way it is going to be, and a lot of bond holders agree that it might be the way to go, quietly.
A lot silence and not much noise coming out. We will see what happens. I am sure we will get some good news. Some people say it may happen till end of May, or the fifth of June, I will not debate this, as I do not know …we will see what happens .
Let us see what happen later. I heard from contact in Reno that things should develop on the weekend BUT no confirmation on that, but that is what he said. So we wait and see, I am tired of this, it has been very difficult, never thought I would do this for so long.
God bless you, let’s hope and pray that later we will get the news we are all waiting on. Take Care, Wolverine.”
Global Financial Crisis:
President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, admits that CBDCs don’t solve any actual problems other than enabling central bankers to monitor all transactions and deduct taxes directly from people’s accounts. “I keep asking anybody, at the Fed or outside of the Fed, to explain to me what problem this is solving… I can see why China would do it. If they want to monitor every one of your transactions, you could do that with a central bank digital currency. If you want to directly tax customer accounts, you could do that with a central bank digital currency. So I get why China would be interested. Why would the American people be for that?”
Fri. 17 May 2024 Banks, US Stock Market About To Be Devastated By Black Swan Event: https://beforeitsnews.com/economy/2024/05/time-is-running-out-now-us-stock-market-banks-are-about-to-be-devastated-by-black-swan-event-atlantis-report-3111554.html
Fri. 17 May 2024: IMF Confirms US Dollar Is in Jeopardy https://watcher.guru/news/brics-imf-confirms-us-dollar-is-in-jeopardy
Read full post here: https://dinarchronicles.com/2024/05/18/restored-republic-via-a-gcr-update-as-of-may-18-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Article: "The Finance Committee 'knows nothing' about the budget tables" Al-Sudani has been holding his cards so ever close to the chest. The looks of it now is that he will not expose the 2024 schedule data until after there is an exchange rate change that will reduce the deficit. Will that be after the vote for the Speaker of the House of Representatives in the HoR and or before extraordinary session for Sunday by the Prime Minister of Iraq, Al-Sudani.. Time will tell. But, since the CoM nor the HoR have yet to receive the 2024 Budget schedules we can deduce, it is going to be a very tight window for events to occur.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television says the speaker of the house will be voted on and will go through on Saturday and then the meeting of the emergency session for the review of the budget with the COM will be Sunday...Then the budget goes to the House the middle of the week. FRANK: They know what's going on.
URGENT NEWS: Emergency Meeting on Iraq 2024 Budget…Rate in Budget
Edu Matrix: 5-17-2024
URGENT NEWS: Emergency Meeting on Iraq 2024 Budget What the 2024 Budget Says About the IQD Rate.
LIVE! H.R. 8421 "The Federal Reserve Board Abolition Act." (Don't Hold Your Breath...)
Greg Mannarino: 5-17-2024
MilitiaMan:Iraq Dinar - Iraq Central Bank - IMF - UNAMI - World Bank - Key Votes Tabled - WTO - Ready- Oil Flow
Iraq Dinar - Iraq Central Bank - IMF - UNAMI - World Bank - Key Votes Tabled - WTO - Ready- Oil Flow
MilitiaMan: 5-17-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Dinar - Iraq Central Bank - IMF - UNAMI - World Bank - Key Votes Tabled - WTO - Ready- Oil Flow
MilitiaMan: 5-17-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Currency Insider Video Updates Late Friday Evening 5-17-24
Currency Insider Video Updates Late Friday Evening 5-17-24
Iraqi Dinar New Rates Set Good For Investors – 2:16
Vietnam Dong Holders be Alert – 1:06
Iraqi Dinar Shown Big Success After 20 Years – 2:02
Currency Insider Video Updates Late Friday Evening 5-17-24
Iraqi Dinar New Rates Set Good For Investors – 2:16
Vietnam Dong Holders be Alert – 1:06
Iraqi Dinar Shown Big Success After 20 Years – 2:02
Iraqi Dinar New Rates Set Good For Investors – 2:16
Vietnam Dong Holders be Alert – 1:06
Iraqi Dinar Shown Big Success After 20 Years – 2:02
Iraqi Dinar Today Video Updates Friday Evening 5-17-24
Iraqi Dinar Today Video Updates Friday Evening 5-17-24
Iraq Get Ready To Change The Exchange Rate To $3 – 3:10
Congratulations Wells Fargo Bank Reveald Dong & Dinar New Exchange Rate – 4:23
Chase Bank Amazing All IQD Holders It is Fully Done – 3:46
Iraqi Dinar Today Video Updates Friday Evening 5-17-24
Iraq Get Ready To Change The Exchange Rate To $3 – 3:10
Congratulations Wells Fargo Bank Revealed Dong & Dinar New Exchange Rate – 4:23
Chase Bank Amazing All IQD Holders It is Fully Done – 3:46
Iraq Get Ready To Change The Exchange Rate To $3 – 3:10
Congratulations Wells Fargo Bank Reveald Dong & Dinar New Exchange Rate – 4:23
Chase Bank Amazing All IQD Holders It is Fully Done – 3:46
Iraq Economic News and Points to Ponder Friday Evening 5-17-24
Iraq Economic News and Points to Ponder Friday Evening 5-17-24
New American Positions Towards Resuming The Export Of Kurdistan Oil... And Foreign Companies Set A Condition
05-17-2024 | 4,488 views Alsumaria News – Economy The US State Department confirmed the continuation of its contacts with officials in Baghdad, Ankara, Erbil and American companies, to resume oil exports from Kurdistan through the Turkish port of Ceyhan, while foreign companies operating in Kurdistan confirmed that they are ready to resume exports on the condition that their funds related to previous and future exports are guaranteed.
Deputy Spokesman for the US State Department, Vedant Patel, said in a press conference held in Washington, “Developing different ways to deliver Iraqi energy to global markets is in the interest of Iraq and the United States,” noting that “we are in direct and continuous contact with officials in Baghdad, Ankara, and Erbil.” And American companies affected by the cessation of oil exports, in relation to the opening of the Iraqi-Turkish oil pipeline.”
Iraq Economic News and Points to Ponder Friday Evening 5-17-24
New American Positions Towards Resuming The Export Of Kurdistan Oil... And Foreign Companies Set A Condition
05-17-2024 | 4,488 views Alsumaria News – Economy The US State Department confirmed the continuation of its contacts with officials in Baghdad, Ankara, Erbil and American companies, to resume oil exports from Kurdistan through the Turkish port of Ceyhan, while foreign companies operating in Kurdistan confirmed that they are ready to resume exports on the condition that their funds related to previous and future exports are guaranteed.
Deputy Spokesman for the US State Department, Vedant Patel, said in a press conference held in Washington, “Developing different ways to deliver Iraqi energy to global markets is in the interest of Iraq and the United States,” noting that “we are in direct and continuous contact with officials in Baghdad, Ankara, and Erbil.” And American companies affected by the cessation of oil exports, in relation to the opening of the Iraqi-Turkish oil pipeline.”
Meanwhile, Assistant Secretary of State for Energy Affairs Jeffrey Pyatt was visiting Erbil, and he said during his visit that today’s visit left a strong impression on me regarding the abundance of energy in this region, its importance for achieving energy self-sufficiency in all of Iraq, as well as the extent to which we face... They all have some of the same challenges.”
For its part, the Federation of Foreign Petroleum Companies Operating in Kurdistan said that it welcomes the visit of the US Assistant Secretary of State for Energy Affairs, and that the companies are ready to resume exports, provided that agreements are reached that provide for ensuring payment for previous and future exports and maintaining commercial and economic conditions.
Miles B. Caggins, the official spokesman for the Kurdistan Oil Industry Association, said: “Ambassador Bayat’s visits to both Baghdad and Erbil underscore the importance of immediate and cooperative action by all stakeholders to restore exports through the Iraq-Turkey pipeline.” He
stressed that “the companies remain members .” APICOR is keen to resolve the export impasse and would welcome the invitation to participate in this process.” LINK
Railways: Installing Electronic Payment Devices At Passenger Ticket Reservation Stations
Time: 05/17/2024 Read: 754 times {Local: Al-Furat News} The Ministry of Transport announced today, Friday, the installation of electronic payment devices at passenger ticket reservation stations.
The Director General of the General Company for Iraqi Railways, Younis Al-Kaabi, said in a statement, a copy of which was received by {Al-Furat News}, that “according to the directives regarding the transition from cash payment to electronic payment and the confirmations of the Minister of Transport on the application of the electronic payment system in all formations of the ministry, payment devices have been installed and activated.”
Electronic exchange by the exchange company and the Arab company, by providing one or two devices in fourteen stations to reserve passenger train tickets.
He added: "Electronic payment has been activated for eleven administrative regions (the cashier unit), and workers within the cashiers and employees of the ticket reservation units have been trained on the devices by the electronic payment team at the Railways and the teams of the exchange and Arab electronic payment companies." LINK
A Delegation From The Retirement Authority Discusses With The World Bank Reform Of The Retirement System In Iraq
Friday 17, May 2024 14:12 | Economical Number of readings: 164 Baghdad / NINA / The Retirement Authority delegation discussed with the World Bank reform of the retirement system in Iraq.
A statement by the Ministry of Finance stated that, within the framework of providing technical assistance to reform the retirement system in Iraq, a delegation from the National Retirement Authority headed by the head of the authority, Maher Hussein Rashid, attended the coordination meeting with a group of members of the World Bank in Istanbul to discuss the issue of reforming the retirement system in Iraq, in an important step towards... Ensuring its sustainability and improving future opportunities for citizens,
he explained that during the meeting technical, technical and technical assistance was provided by the bank to facilitate the process of providing services to retirees./End 9 https://ninanews.com/Website/News/Details?key=1127090
Oil Prices Are Heading For Their First Weekly Increase In 3 Months
Money and business Economy News - follow up Oil prices rose today, Friday, with Brent crude, the global benchmark, heading for its first weekly increase in three weeks thanks to signs of improving global demand amid stronger economic indicators from major consumers China and the United States.
Brent crude prices rose 21 cents, or 0.25 percent, to $83.48 a barrel by 0314 GMT. we. West Texas Intermediate crude futures rose seven cents, or 0.09%, to $79.30 a barrel.
Markets were also boosted by Chinese industrial output growing by 6.7% year-on-year in April as the pace of recovery in the manufacturing sector accelerated, indicating the potential for increased demand in the future.
The decline in oil and refined product inventories in major global trading centers also created optimism about oil demand growth, reversing the trend of rising inventories that had severely impacted crude oil prices in previous weeks.
Recent economic indicators from the United States have fueled optimism about global demand. we. Data on Wednesday showed that consumer prices rose less than expected in April, boosting expectations of lower interest rates in the country.
These expectations were further strengthened by data on Thursday, which showed the stability of the US economy.
Lower interest rates could help ease the US economy. dollar, which would make oil cheaper for investors holding other currencies and boost demand. Views 85 05/17/2024 - https://economy-news.net/content.php?id=43493
New American Positions Towards Resuming The Export Of Kurdistan Oil... And Foreign Companies Set A Condition
Economy 2024-05-17 | 2,424 views Alsumaria News-Economy The US State Department confirmed the continuation of its contacts with officials in Baghdad, Ankara, and Erbil and American companies, to resume oil exports from Kurdistan through the Turkish port of Ceyhan,
while foreign companies operating in Kurdistan confirmed that they are ready to resume exports on the condition that their funds related to previous and future exports are guaranteed.
Deputy spokesman for the US State Department, Vedant Patel, said in a press conference held in Washington,
“Developing different ways to deliver Iraqi energy to global markets is in the interest of Iraq and the United States,” noting that
“we are in direct and continuous contact with officials in Baghdad and Ankara.” And Erbil and American companies affected by the cessation of oil exports, regarding the opening of the Iraqi-Turkish oil pipeline.”
Meanwhile, Assistant Secretary of State for Energy Affairs Jeffrey Pyatt was visiting Erbil, and
he said during his visit that today’s visit left a strong impression on me regarding the abundance of energy in this region, its importance for achieving energy self-sufficiency in all of Iraq, as well as the extent to which we face... "They all have some of the same challenges."
For its part, the Union of Foreign Petroleum Companies Operating in Kurdistan said that
it welcomes the visit of the US Assistant Secretary of State for Energy Affairs, and that
the companies are ready to resume exports, provided that agreements are reached that provide for ensuring payment for previous and future exports and maintaining commercial and economic conditions.
Miles B. Caggins, spokesman for the Kurdistan visits Oil Industry Association, said:
“Ambassador Bayat’s to both Baghdad and Erbil underscore the importance of immediate and cooperative action by all stakeholders to restore exports through the Iraq -Turkey pipeline.” He stressed that
"APIKOR member companies are still keen to resolve the export impasse and will welcome the invitation to participate in this process." https://www.alsumaria.tv/news/economy/488845/مواقف-أمريكية-جديدة-تجاه-استئناف-تصدير-نفط-كردستان-والشركات-الأجنبية-ت
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
Provoking Thoughts and Points to Ponder on Advice :
Fewer things are harder to put up with than the annoyance of a good example. - Mark Twain
The only thing to do with good advice is to pass it on. It is never of any use to oneself. - Oscar Wilde
A good scare is worth more to a man than good advice. - Edgar Watson Howe
There is little serenity comparable to the serenity of the inexperienced giving advice to the experienced. - Anonymous
Advice is seldom welcome; and those who want it the most always like it the least. - Lord Chesterfield
Friday Evening Chat with MarkZ 5-17-2024
Friday Evening News with MarkZ
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Welcome to another Friday Night
Member: Is anyone else downright giddy at all the dots released these past few days that are worth connecting?
MZ: The dots really are worth connecting….things are sure coming together.
MZ: We have a few bank stories tonight:
Friday Evening News with MarkZ
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Welcome to another Friday Night
Member: Is anyone else downright giddy at all the dots released these past few days that are worth connecting?
MZ: The dots really are worth connecting….things are sure coming together.
MZ: We have a few bank stories tonight:
MZ: From a member: “I went to a bank branch (small bank) today to get some documents notarized. When I finished I asked the branch manager if she exchanges foreign currency here? She said no, they would send it out and the process would take a couple of weeks. I said that wouldn’t work and asked her if she knew what the QFS was. She cracked a smile and said “yes” . She then started asking me questions on it and what I knew. She knew right then I was not a regular customer. I asked her if this branch was already connected to the QFS…and she said “yes” . I think she was unprepared to answer more.
MZ: I asked if they had a wealth manager on site, and she said Yes, every Tuesday. She asked me how much currency ..I told her and without batting an eye she said “The wealth manager will call you on Tuesday.”
MZ: We are getting more and more people in a level of “know”
Member: Frank26 also mentioned a bank story where the employees were undergoing foreign currency training!!!
MZ: Then there is this one. “On May 22nd, (This is from the IRS) But other government agencies are also doing this. They will be conducting emergency alert tests nationwide to all their employees on text messaging, email and laptop notifications. So they are prepared for May 22nd.
MZ: From a member:” Now in one of the top banks here in the country – they are very clued in on currencies. When they found out the amount of the currency they had they said “We need to sit down with you- but we can’t sit down with you until the 22nd. Our key people for wealth management are in training for foreign currencies and exchanges – but we want to sit down with as soon as they back from training. “
NZ: Now this doesn’t mean the RV will happen on the 22nd. But the bank can’t talk to them now even though they want to talk to them….until May 22nd. So- the top wealth management at a big bank with a big wealth management arm-and they get back from foreign currency exchange training on the 22nd –This is a great “tell”
Member: The same day government agencies are testing the emergency EAS system …hmmm very interesting.
Member: I'm hearing similar stories from Chase Banks in Florida. It's no secret anymore.
Member: So they are still throwing those articles around about floating the dinar. I assume its smoke and mirrors?
MZ: We have seen to much documentation on a soft peg and allowed to float. A soft peg is when they move it to a level and allow it to float up and down-about 2%....if you read those…read between the lines.
Member: If they move it to the $3 level and allow it to float from there……I would love that.
Member: Al Sadir had a urgent speech today. Did he call for a session of Parliament for tomorrow Sat?
MZ: Sudani called for a urgent special speech on Sunday. I had not heard he had one today.
Member: MarkZ could they be saying stuff about Sunday only to pull the trigger on Saturday and fool us all?
Member: In this investment – anything is possible.
MZ: They absolutely could be doing that….It would make sense to do it that way…but who knows?
Member: I called my bank this morning to pay a couple bills. asked about QFS . He knew what I was talking about and couldn't say too much
Member: Banks in Canada Quebec are closing the tellers jobs. You can only have $$$ through ATM’s. 3 banks - National Bank, BMO bank and Desjardins banks even closing locations and TD bank criminal fraud.
Member: Thanks for the encouraging news tonight…Very exciting.
Member: Lord, we are so weary, strengthen our resolve to help make this the world you wanted for us! Lift us up & bless your faithful to go out & be beautiful examples of unconditional LOVE! We are ready!!
DR. JAY CAPRIETTA joins the stream tonight. Please listen to the replay for his informaion
“THE CONTENT IN THIS PODCAST IS FOR GENERAL& EDUCATIONAL PURPOSES & NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY”
Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.
TO GET THE “REAL MARKZ ACCOUNTS”, TWITTER, YT, RUMBLE, TELEGRAM ROOMS, AND FOR MARK’S DAILY LINKS TO HIS WEBSITE: https://theoriginalmarkz.com
STAY IN THE KNOW: FOR UPDATES ON PODCASTS (CHANGES & GUESTS). YOU WILL FIND PLENTY OF USEFUL INFO THAT KOUKLA UPDATES OFTEN FOR MARK AT THE TELEGRAM INTEL CHANNEL: https://t.me/+K_GNVfTI0gFkZWYx
GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut
THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING AT 9:45 AM EST. CBD MATT & EVAN WILL BE JOINING!
Economist’s “News and Views” Friday 5-17-2024
Debt Spiral Induced Market Crash Incoming? with Peter Grandich
WTFinance: 5-17-2024
On this episode of the WTFinance podcast I have the pleasure of welcoming back Peter Grandich - Founder of Peter Grandich & Company.
During our conversation we spoke about strong markets leading to a crash, the risk of a debt collapse, what happens if no deficits, BRICS, why unemployment data isn’t the full truth, gold and more.
I hope you enjoy!
Debt Spiral Induced Market Crash Incoming? with Peter Grandich
WTFinance: 5-17-2024
On this episode of the WTFinance podcast I have the pleasure of welcoming back Peter Grandich - Founder of Peter Grandich & Company.
During our conversation we spoke about strong markets leading to a crash, the risk of a debt collapse, what happens if no deficits, BRICS, why unemployment data isn’t the full truth, gold and more.
I hope you enjoy!
1:04- Introduction
3:08 - Strong market for coming months before crash
4:53 - Risk of a debt collapse?
6:23 - How long has run been going?
9:53 - Wall Street Titans coming out against Biden
12:11 - What happens if no deficits?
16:50 - Who consumes China’s manufacturing?
19:11 - Can the change be prevented in US?
22:05 - Strong employment helping economy
24:30 - Assets to perform?
29:05 - Who is buying gold?
31:40 - One message to takeaway from conversation?
Beijing fortifies a rising gold price - LFTV Ep 173
Kenisis Money: 5-17-2024
In this week’s episode of Live from the Vault, Andrew Maguire guides listeners through the latest developments around the new BRICS currency, surging Chinese gold demand, and pivotal findings from the IMF’s latest report.
Timestamps:
00:00 Start
01:45 Community question: where are we in the physical vs paper war?
11:45 The BRICS gold-backed currency
18:15 Will massive Chinese gold demand continue?
32:45 The latest International Monetary Fund report
Gold & Silver Breakout: $30 Silver & $2400 Gold - What's Next? | Bill Holter
Liberty and Finance: 5-17-2024
The physical precious metals markets in the East are overwhelming the paper manipulation in the West, says Bill Holter .
Metals and miners are rising and showing significant signs of strength. He expects a breakout coming. Rising gold prices are signaling a collapse of currencies, he notes and cautions against investors waiting to protect themselves with metals.
For those waiting for pullback, he simply says "good luck."
INTERVIEW TIMELINE:
0:00 Intro
1:30 Physical vs paper
4:30 Fiat currencies collapse
5:25 Pullback coming?
6:39 Gold manipulation
7:58 Selling gold & silver
9:36 Gold/silver ratio
10:47 Is silver undervalued?
11:30 Pre-1933 gold coins
14:15 Gold jewelry
15:30 Currency crisis
16:47 Which currency will collapse first?
18:40 China's national debt
21:40 Bank failures
25:00 Real estate and farm land
26:15 Relocation
29:08 Central banks & silver
Bruce’s Big Call Dinar Intel Thursday Night 5-16-24
Bruce’s Big Call Dinar Intel Thursday Night 5-16-24
Transcribed By WiserNow Emailed To Recaps
Welcome, everybody to the big call. It's Thursday, May 16th and you're listening to the big call.
We just want to welcome everybody. Some of you might be new listener. Some of you might have been listening for the last 13 years to the big call. I want to thank the satellite team for getting the call out there globally. So that's really been very big - good information,
All right. Do this - intel, this could take us till 10:30 But this is, this is what we want to say what's going on - Fortunately, we got some pretty good information, about an hour and a half or two hours ago, by two hours ago.
Now, we've heard from I'm gonna say one of the very most top people in our lead bank which is Wells Fargo – which is the very top of the top - gave our information handler, our intel guy - said, let me see if I can remember exactly how he says it. “Looks good for a shotgun start over the next two days”. And that was said Wednesday. So that was referring to Thursday or Friday tomorrow - a shotgun start
Bruce’s Big Call Dinar Intel Thursday Night 5-16-24
Transcribed By WiserNow Emailed To Recaps
Welcome, everybody to the big call. It's Thursday, May 16th and you're listening to the big call.
We just want to welcome everybody. Some of you might be new listener. Some of you might have been listening for the last 13 years to the big call. I want to thank the satellite team for getting the call out there globally. So that's really been very big - good information,
All right. Do this - intel, this could take us till 10:30 But this is, this is what we want to say what's going on - Fortunately, we got some pretty good information, about an hour and a half or two hours ago, by two hours ago.
Now, we've heard from I'm gonna say one of the very most top people in our lead bank which is Wells Fargo – which is the very top of the top - gave our information handler, our intel guy - said, let me see if I can remember exactly how he says it. “Looks good for a shotgun start over the next two days”. And that was said Wednesday. So that was referring to Thursday or Friday tomorrow - a shotgun start
Now this is a term that Wells is starting to use – some of our other Wells contacts they’re saying using the term “shotgun start.” So this has worked its way into the vernacular of Wells Fargo corporate.
Now I'm going to touch on that again - I'll come back to that. What is interesting is we know we're super close.
We know that the USN has been trading for quite a while now - and so is - and has the Iraqi dinar – now we always tend to come back to what's going on in Iraq – what’s happening in Iraq, because in a way they are sort of the linchpin for this going. We know that – I heard today and I don't know if this for yesterday or today that Iraq paid back the IMF – a loan that they got in 2003. and that's when the new 25 10,000 5000 1000 dinar notes were printed. Our notes that we have now are printed starting in 2003. And they paid the IMF back at $8 billion against a loan Iraq received in 2003.
Now, to do that, you had to have a revalued dinar - to do that - to make that doable. I told you guys, Tuesday, roughly what the rates were without getting specific. And I'm gonna say the rates are actually on the ATM’s in Baghdad in airports and other places.
So have they converted over to I think the new rate in country – yes . I say they have to be yes.
Does everybody in the world know about it yet?
I have to say some of the world does, but they're keeping it from us.
They're still keeping it from us until we go until we receive our numbers and we can book our exchange appointments at the redemption center - we can call in and get that done. But until that time, it's kind of been kept from us on purpose. That's just the way they're doing it. they're keeping it hidden until they're ready for everything to be released.
I can tell you that the in country rate ATMs are is a rate And I can tell you that you know I don't usually do this as you guys know, but I have to let you know that I think that Iraq's rate needs to be on the forex and it may have gone on yesterday, I don't know that though, and I'm not positive whether it needs to go on the forex for us to go – the theory is that it does.
So we'll see. We'll see what happens with that. We'll see if that's true. or not.
We want to talk about tonight - you guys know we have about 17 - 18 currencies that are going up substantially in value. We know that you know that obviously dinar and Dong - Dong is one of those. the Rupiah - the Afghani the uhhh - there's a lot of currencies we never talked about need to go up - And some of them will be significant.
The Venezuelan Bolivar is one that is going up - substantially too – a good buy - And some of us have taken advantage of that.
But nothing's gonna touch the Zimbabwe $1 – which - Remember about two or three weeks ago, we talked about the Zimbabwe in gold - Zig - the ZIG by weight in gold, Gold back in Zim dollar - came out it was announced. And that's your gold back which is great.
I heard something the other day we actually believe in all of us as more in ground assets - and more gold than you guys would understand if I even told you about it. And don't think it's at Fort Knox – cause it’s not - we might have some there but we don't have all of it there, but I'm just thinking we are really coming down to the wire on us.
Iraq also, a week ago yesterday - If I remember my dates - were accepted as full fledged members in the World Trade Organization, the WTO. so they're in the WTO. they pay back their loans and the IMF.
They got a new rate in country at probably the Middle East knows about it. They I'm sure know about it, and know whether or not we're the only ones that don't know about it. You know now cause I just told you - But other than that, nobody's gonna find out about it. unless they're listening to the big call or replay, but I'm excited about that.
Now, let's cut to…. Okay.. This came with one of our bond paymasters with Wells Fargo.
He contacted someone in Geneva - the bonds are paying out - that's where a lot of that good information comes out of Geneva not so much Zurich - but Geneva -
And the word is that according to our bond pay master who has a regular contact in Geneva that he didn't get to speak with today yet, but he expects to hear from and if -- Okay, this is gonna get a little a little convoluted ……..
We have information that's coming to us that suggests that they're going to try to release this, which means a shotgun start for tier three which is the bondholders – tier 4A & 4B which is us - admirals and the Internet Group 4B, but Wells Fargo refers to as tier four.
So the idea is that our so called shot gun start I'm sorry, I'm gonna say it's gonna get the green light later tonight. And not too much later than right now. Maybe a couple of hours, but theoretically before midnight. And I may know something from my information – my information handler – at midnight tonight, whether or not they did it – did the release which I interpret as a new green light from military from Treasury from Wells Fargo to let everything go.
Now - It really puts tomorrow in play. I believe. I'm using faith here because we don't know that it is going to be released tonight. But I have a feeling that they are going to try to do it. They say they're going to try to put out these all these different terms, get it out and release it. You know, all these things I'm talking about. I'm excited about this.
And I hope that this is something that could be helpful to all of you in the call universe because you know it does me no good to give intel that doesn't happen, right? I don't like that. I like it all.
We know, half of what I say is happening. It is true – it is happening behind the scenes - but the one thing that we really want is the toll free numbers to call in - Set our appointments to do our exchange.
That's really the name of the game. That's where we've been and that's what you guys want. That's what I want – what Sue wants and Bob wants - all of us – want this to happen - and we’ve waited a very long time for it - 20 years for me – I got in March of 05 – and thought I was late in the game – late to the party - but I wasn’t late – I was right on time – and I’ve been in it 20 yrs -
So bottom line is we are all anticipating getting something big here and let’s go a little further with the intel and I was wondering what else I was going to say – I was wondering when are we gonna get the R&R, the increase on social security,
We have a contact in the Soc Sec Administration - they told my information handler that people on the 4th Wednesday for Social Security would get a bump in their social security and it's a substantial bump.
It's a big - it's that increase we talked about and that according to this gentleman - and should happen.
Some people get it early say like Saturday, some people get it on Wednesday, which would be the 22nd and that is supposed to occur.
Now, other people that have already been paid for social this month. I don't know if they'd get it this month. I think they would but they probably get a second payment to their Social Security bank accounts. The accounts that their social is direct deposited into I don't have the particulars on that. But I can tell you that - Wednesday's the month of May because the first of May was a Wednesday the fifth Wednesday the 29th of May.
And when we hearing about R & R is that it would occur that at the very end of May, which I think is gonna be on or around the 29th - Wednesday the 29th.
Now for those of us who have currencies, that we're setting appointments, and going in for our exchanges and redemption of Zim - our R&R - restitution reclamation allowance is supposed to come in then - when we go in for our appointments. We're supposed to get it then. And then it would be just a lump sum amount for those of us who are 62 and older and on Soc Sec , we would get a lump sum added to our exchange totals.
Okay, so I'm not sure exactly how that's going to work, whether we get all of it, whether it goes into our quantum account, and then we pull out money as we need it. That could very well be the case. So it is something that's added to our totals when we do our exchanges and redemption of zim
I want to make sure we know how much it is right now. So I can just know it for no other reason than to know what the total is - Alright, so there's your R&R.
Now for those that are not at age 62 I don't know exactly how you're gonna get it but you're gonna get that and it should be at the end of the month.
Like the 29th is going to be the day for a lot of people that are not doing exchanges. So we will see how that all works out - So we got an increase in security supposedly occurring this month still.
And we've got the R&R happening at the end this month. And the RV could very well be happening later tonight, where the green light so to speak is given, and then once we move to get toll free numbers which would come in our emails.
We would go and set those appointments with a call centers and then speak to somebody at the redemption centers - We're connected to that redemption center or given a number to call to get to that redemption center that is indicated by our zip code. When we call in for our appointments.
So that's how close I believe we are. And I'm excited because I think sometimes we're looking at things We've been here before. And I think a lot of ways we've never been where we are right now, before.
There's other anecdotal stories that I'm not at liberty to discuss, but I can tell, definitely happening on the scenes, and we only know 10% / 20% of whats going on
So that's what I wanted to share with you guys tonight. So let's do this. Let's go ahead and pray the call out - let’s stay in faith for it like we have been – let’s look forward to see what might happen tomorrow. I mean, I can't say absolutely guys, you know, I would if I could, but this is pretty good information coming in. That they're going to try to make the attempt release everything tonight.
So keep your eyes on your emails tomorrow. Let's see what happens and otherwise lets enjoy the weekend and ok deb enjoyhopefully the nice weather where you are.
But let's pray the call out So I want to thank you guys. for listening though. it's a big call universe. Thank you for listening.
Let's keep an eye on this thing. Let's see if this intel that we got today comes through and we look forward to getting started moving into new directions.
Alright guys, let's pray to call out everybody thank you for listening. Have a great night. Have a great weekend. God bless you.
Bruce’s Big Call Dinar Intel Thursday Night 5-16-24 REPLAY LINK Intel Begins 1:13:23
Bruce’s Big Call Dinar Intel Tuesday Night 5-14-24 REPLAY LINK Intel Begins 1:10:00
Bruce’s Big Call Dinar Intel Thursday Night 5-9-24 REPLAY LINK Intel Begins 51:51
Bruce’s Big Call Dinar Intel Tuesday Night 5-7-24 REPLAY LINK Intel Begins 1:05:15
Bruce’s Big Call Dinar Intel Thursday Night 4-25-24 REPLAY LINK Intel Begins 1:13:20
Bruce’s Big Call Dinar Intel Tuesday Night 4-30-24 REPLAY LINK Intel Begins 59:25
Bruce’s Big Call Dinar Intel Thursday Night 4-25-24 REPLAY LINK Intel Begins 1:21:11
Bruce’s Big Call Dinar Intel Tuesday Night 4-23-24 REPLAY LINK Intel Begins 1:05:15
Bruce’s Big Call Dinar Intel Thursday Night 4-18-24 REPLAY LINK Intel Begins 58:58
Bruce’s Big Call Dinar Intel Tuesday Night 4-16-24 REPLAY LINK Intel Begins 58:48
Bruce’s Big Call Dinar Intel Thursday Night 4-11-24 REPLAY LINK Intel Begins 1:01:31
Bruce’s Big Call Dinar Intel Tuesday Night 4-9-24 REPLAY LINK Intel Begins 1:03:30