Clare » April 5th, 2023
Three Congressmen Introduce Gold Standard Bill to Stabilize the Dollar’s Value
WASHINGTON, D.C. / ACCESSWIRE / April 4, 2023 / As America faces the twin threats of inflation and bank failures, three U.S. congressmen introduced a pivotal sound money bill that would enable the Federal Reserve note “dollar” to regain stable footing for the first time in more than half a century.
SNIPPET: Rep. Alex Mooney (R-WV) – joined by Reps. Andy Biggs (R-AZ) and Paul Gosar (R-AZ) – introduced H.R. 2435, the “Gold Standard Restoration Act,” to facilitate the repegging of the volatile Federal Reserve note to a fixed weight of gold bullion.
Upon passage of H.R. 2435, the U.S. Treasury and the Federal Reserve are given 24 months to publicly disclose all gold holdings and gold transactions, after which time the Federal Reserve note “dollar” would be formally repegged to a fixed weight of gold at its then-market price.
Federal Reserve notes would become fully redeemable for and exchangeable with gold at the new price, with the U.S. Treasury and its gold reserves backstopping Federal Reserve Banks as guarantor.
Monetary experts have noted a return to a gold standard would substantially curtail the economic damage caused by inflation, runaway federal debt, and monetary system instability.
“A gold standard would protect against Washington’s irresponsible spending habits and the creation of money out of thin air,” said Rep. Mooney in a statement.
“Prices would be shaped by economics rather than the instincts of bureaucrats. No longer would American families, businesses, and the economy as a whole be at the mercy of the Federal Reserve and reckless Washington spenders.”
The Gold Standard Restoration Act also makes several findings as to the harm the Federal Reserve System has inflicted on everyday Americans – particularly since President Richard Nixon “temporarily suspended” gold backing of America’s monetary system in 1971.
H.R. 2435 points out: “The Federal Reserve note has lost more than 40 percent of its purchasing power since 2000, and 97 percent of its purchasing power since the passage of the Federal Reserve Act in 1913.”
Historians have observed that the elimination of gold redeemability from the monetary system freed central bankers and federal government officials from accountability when they expand the money supply, fund government deficits though trillion-dollar bond purchases, or otherwise manipulate the economy.
“At times, including 2021 and 2022, Federal Reserve actions helped create inflation rates of 8 percent or higher, increasing the cost of living for many Americans to untenable levels…enrich[ing] the owners of financial assets while… endanger[ing] the jobs, wages, and savings of blue-collar workers,” H.R. 2435 states.
Notably, Rep. Mooney’s bill would also require full disclosure of all central bank and U.S. government gold holdings and gold-related financial transactions over the last 6 decades – a seemingly taboo subject surrounded by mystery and deception.
“To enable the market and market participants to arrive at the fixed Federal Reserve note dollar-gold parity in an orderly fashion… the Secretary and the Federal Reserve shall each make publicly available… all holdings of gold, with a report of any purchases, sales, swaps, leases, and any other financial transactions involving gold, since the temporary suspension in August 15th, 1971, of gold redeemability obligations under the Bretton Woods Agreement of 1944.”
In the years leading up to Nixon’s panicked “temporary suspension” of gold redeemability, abusive U.S. deficit spending and currency debasement had prompted many foreign central banks to turn in their Federal Reserve notes for gold.
However, this disgorgement of America’s gold holdings was largely conducted in secret.
That’s why H.R. 2435 also requires the Fed and the Treasury to disclose “all records pertaining to redemptions and transfers of United States gold in the 10 years preceding the temporary suspension in August 15, 1971, of gold redeemability obligations.”
U.S. sound money groups and industry leaders are cheering Mooney’s actions.
“Government cannot continue to spend and print on a massive scale without producing existential threats to the currency and our economy,” said Lawrence W. Reed, president emeritus of the Foundation for Economic Education.
“The gold standard never failed America, bad ideas and bad politicians did. If we do nothing, disaster awaits us just as it drowned earlier civilizations that spent and inflated their way to ruin,” Reed continued.
“Today’s debt-based fiat-money system serves primarily to support big government and wealthy financial insiders – while the Federal Reserve’s serial policy of currency debasement punishes savers and wage earners,” explained Stefan Gleason, President of the Sound Money Defense League and Money Metals Exchange.
“A return to gold redeemability would arrest the problem of inflation, restrain the growth of wasteful and inefficient government, and kick off an exciting new era of American prosperity,” Gleason concluded.
The full text of Rep. Mooney’s gold standard bill can be found here. It was introduced on March 30, 2023, and referred to the House Committee on Financial Services.
About Sound Money Defense League
The Sound Money Defense League is a non-partisan public policy group working nationally to restore sound money at the state and federal level and publisher of the Sound Money Index.
SOURCE: Sound Money Defense League LINK
Source: Dinar Recaps
Clare » April 5th, 2023
SOMEONE ASKED ME TO REPOST THIS…
THESE ARE FRANK’S BANKS QUESTIONS THAT YOU MAY WANT TO SAVE FOR YOURSELF…
1. IF I DEPOSIT MY PROFIT IN YOUR BANK …………… HOW MUCH WILL YOUR FDIC COVER MY ACCOUNT ………………. WILL YOUR BANK CONNECT ME WITH YOUR INSURANCE COMPANIES?…….
2. WILL YOUR BANK GIVE ME A CARD TO WITHDRAW ……….. UNLIMITED AMOUNTS?…………. DO I NEED APPOINTMENTS TO WITHDRAW CASH ? WILL YOUR BANK ESTABLISH A CASH RESERVE FOR MY ACCOUNTS?……
3. YO YO YO MR BANKER ……………. U ALL GOT “CDARS” TO PROTECT ME WITH ?
THE FOLLOWING QUESTIONS ARE FROM PREMIUM MEMBERS THAT WERE POSTED IN CHAT BEFORE FRANK WENT TO THE BANK.
1. Will you confirm the validity of my notes in house?
2. What is the spread?
3. Will they pay for the insurance on my money if I leave it in their bank?
4. How will you guarantee that my funds will be safe in your keeping?
5. Can I have my bank accounts locked down and the only one that can see my accounts is the Manager and I?
6. If I leave my money here for a set time how much interest can I get.?
7. Can I get my dinar exchanged into the USDC. Digital Dollar and sent to my crypto wallet?
8. Will they guarantee to match any better offer from another bank, so I know I am getting the best deal available by banking here?
9. How many accounts can I open up at one time?
10. If I exchange all of my foreign currency through your bank, would you charge me any service fees for the exchanges???
11. What perks above and beyond what you give to regular customers can you provide to me if I deposit with you?
12, What can you offer me that another financial institute won’t? Why should I select your institution?
13. Transfer limits?
14. How much is it to insure my bank accounts from someone hacking into my bank accounts?
15. If I only exchange some now but will be back to exchange a lot more later could I get a better spread on first exchange too?
16. Can you provide space to store gold and silver?
17. what will be your fee..will it be determined by funds remaining in account, or amount of conversion , or both??
18. Is there a dedicated contact number or person that I can speak with in regards to my account without being routed to a call center?
19. What type of timeframe is There when I request fund to be transferred to a outside Account and is there a transfer limit?
20. If for any reason your bank takes my money and then says the FDIC will help you(I don’t believe they will but not in my lifetime) what kind of policies do you have in place to stop this from happening?
21. Can use this with our exchanges, https://www.intrafinetworkdeposits.com/
22. Can I get separate guarantees at each of your branch banks my money is in by having separate accounts?
23. Can I have a non interest bearing account and only make bank withdrawals from my trust? Is it possible not to have a debit card for my account?
24. What type of protection do you offer for a hacking incident through your security into my account via debit card attack?
25. Is it better to get a credit card with a high balance to get instead of a debit card so no one can get a hold of my accounts, wouldn’t this be better option then a debit card?
26. How many cashier’s checks can I get on the first appointment
27. Is there a way to keep local tellers from knowing how much money you have?
28. Will your bank have the necessary equipment in house to validate the notes at the time of exchange.
29. In the news there was some stories that certain bank(s) seemed to freeze accounts over someone’s political position, is that a concern here? (shame we have to ask this now a days) imo
30. Will you offer help with our tax questions?
31. Will you have any objections to come to my attorney’s office and be recorded while doing my exchange?
32. Bank? do you have De La Rue machine?
33. How many interest-bearing accounts can I have for compounding interest from the principal?
34. How many derivatives does your bank hold?
35. Would I have a dedicated person to inform me on the growth of the rate throughout the year?
36. Will we have free access to a wealth management team?
37: Will I get a no fee account if I deposit my money with you?
38. Can you guarantee that my account would not be used to train tellers?
39. What perks will I get with my account?
40. What high-yield accounts are available at the multi-million $ level?
41. At what deposit point $ (my deposits / others I direct to deposit) will I “NOT” have to pay a spread fee?
42. Can you get me in SILVER OR GOLD for my currencies and I prefer not to keep them at home, how does it work for you to keep here? any charges, how quickly can I get it.
43. Will you pay for INS over the FDIC if I Keep it in your banks, will you have a group health ins for my family.
44. What type of accounts will be available to me? And can you offer transfers of funds outside the USA?
45. Contact information regarding Canadian Banks?
46. how many accts are insured up to $250.000.00 can I have …..
47. Would this account be fiduciary, meaning I have control?
48. What in-house Wealth Management services do you have to offer, and what information about them is available on line?
49. What must my net worth be, to be a part of your Private Bank and what are your fees based on Assets Under Management?
50. Should we bring in 1 IQD note to establish a relationship with the bank before bring in the rest of the IQD notes?
51. Do you have multicurrency accounts, and can we have one in IQD? If not, can we open one in a foreign account and once in IQD, can we send the deposit currier protected by the bank to deposit in their account as IQD?
52. Can we have that account in IQD tied to a bank card and use it in the US, getting the bank card exchange rates that are so low?
53. Do we need a Wealth Manager prior to our exchange?
54: would it be best to get the trust set up prior to exchange
55. Can you give us an idea, by assuming only moderate risk what type of return we could get at different levels of investment left with your bank. Also, what would be the time period we would have to agree for, to get these returns.
56. How will the Bank handle a influx of exchange appointments with a unknown timeframe to exchange?
57. If several accounts are opened each with 250,000.00 due to insurance coverage if placed in trusts after one is established. Do they need separate EIN numbers?
58: When I buy my house, cars etc. what is the best rate and terms you will offer me. I believe in OPM if I can get a 1,2,3,% rate on what I borrow yet make 7,8,9,10% or more on my investments. Lets talk or should I say Negotiate! n my investments
59: If you are involved on a higher level investment platform with your bank, On average how often can you pull distributions from the investment? Annually, Qtrly, monthly, etc…
60. Does your bank participate in CDARs?
61. Why should I do business with you over your competitors?
62: If we as a Group come in and exchange our Dinars , will you drop the spread fee for the ones that would leave 50% of our exchange money in your Bank for not less than three years?
63: How soon after depositing or account opened will I be able to access funds, and will there be a limit placed on how much is withdrawn?
64. Can i deposit my ncsn (new small currency notes) in your bank ( floating)
65. How will you protect me & fight for me?
66. Can I open an account & place a few dinar in it, then hold the rest until I’m ready to fold?
67. If I exchange my Dinars here and have it deposited into my account in another Bank, What would the spread be?
68. Can I break a 25K IQD Note into smaller Dinar denominations, the same way one might break a $20 bill into smaller bills?
69. Is faxing used as alternative to emails for secure communication? (Olde school faxing)
70. Does your wealth management team set up electronic(digital) exchange capabilities for me(my investment accounts) with stateside brokerage firms that offer better (no) transaction fees between them and my foreign trading accounts?
71. Is a prudent amount for exchange be based on current debt levels? Should any amount or percentage of funds be held in reserve?? Thank You much.
72. Do you) have beneficiary accounts?
73. Will you be able to create “Clean & Clear Certificates to verify funds are legal.
74. Are you invested in derivatives? If so, which ones, and can the wealth manager give me a list of them and their 10 yr history of performance?
Source: Dinar Recaps
Clare » April 5th, 2023
Putin: Relations with Iraq are developing and there are many common projects
Russian President Vladimir Putin announced that relations between Moscow and Baghdad are developing steadily
He added, in a speech during a ceremony for receiving the credentials of a number of new foreign ambassadors at the Kremlin Palace, today, Wednesday, that “there are many joint projects in a number of sectors in Iraq.”
He stressed, “Russia’s support for Iraq’s territorial integrity and non-interference in its internal affairs.”
Putin also touched on cooperation between the two countries in various fields, and pointed out that trade exchange between Russia and Iraq has shown steady growth over the past two years.
In his speech to foreign ambassadors, the Russian President touched on the most important issues of Russian foreign policy, stressing his country’s readiness to cooperate with all countries without exception. LINK
International Welcome To Iraq’s Accession To The United Nations Convention On International Road Transport (TIR)
Iraq has become the contracting party No. 78 within the TIR Convention. To join its neighboring countries (the Islamic Republic of Iran, Jordan, Kuwait, the Syrian Arab Republic, the Kingdom of Saudi Arabia, and Turkey) that are also contracting parties, which opens horizons for a more efficient and safe flow of goods across the region, and achieves linkages with markets throughout Europe and Asia. Including India, Pakistan and China – and beyond.
UNECE Executive Secretary Olga Algyrova said: “After one week of welcoming Iraq to the Water Agreement, I am pleased to congratulate Iraq on its accession to the TIR Agreement. This would open up new opportunities to boost economic growth as an engine of development through effective trade actions across the Middle East.”
Used by more than 34,000 transport and logistics companies, the TIR system reduces cross-border transportation time by up to 80% and costs by up to 38%.
The TIR Convention (1975) served by the United Nations Economic Commission for Europe (UNECE) is the only existing global customs transit system. LINK
The OPEC basket rises to more than $84 a barrel
OPEC announced, on Wednesday, that the prices of its basket of crudes have increased, to record more than $84 per barrel.
The organization stated, in a report seen by Shafaq News agency, that “the price of the OPEC basket of thirteen barrels of crude recorded 84.84 dollars per barrel,” indicating that “the price increased from last Friday by 6.72 dollars, after it recorded 78.12 dollars.”
The reference basket of the Organization of the Petroleum Exporting Countries (OPEC) is composed of: Sahara Mix (Algeria), Girassol (Angola), Djino (Congo), Zafiro (Equatorial Guinea), Rabih Light (Gabon), Iran Heavy (Iran), Basra Light (Iraq). ), Kuwait Export (Kuwait), S Sidr (Libya), Pony Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Miri (Venezuela). LINK
Source: Dinar Recaps
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