Goldilocks posted comments and news links on the global financial system
BREAKING NEWS
TURKEY AND SAUDI ARABIA HAVE SIGNED A MEMORANDUM OF UNDERSTANDING TO ENHANCE COLLABORATION IN THE FIELD OF CRITICAL MINERALS
Saudi Arabia and hard assets.
They are making moves.
Read: https://x.com/goldtelegraph_/status/1696249440246321259?s=46
more on this one today
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BRICS Member Admits Dollar Will Remain Dominant Despite Rupee, Yuan Deals
https://markets.businessinsider.com/news/currencies/brics-india-dollar-dominance-dedollarization-rupee-yuan-deals-alternative-currencies-2023-8
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Digital Banking Announcement:
Google and other major internet platforms must update their service policies to comply with EU standards from its Digital Services Act by Aug. 28.
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Evergrande down nearly 15% at open.
Read: https://x.com/goldtelegraph_/status/1696346667971199043?s=46
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“During the period of January to June 2023, India’s top trading partners included China ($38.1 billion USD), Russia ($29.6 billion USD), Saudi Arabia ($12.9 billion USD), Iraq ($12.5 billion USD), and Switzerland ($7.5 billion USD).”
In the above information, we see that India traded with Iraq in US dollars around 12.9 billion dollars worth in trade.
Now, Iraq is no longer using the dollar inside the UPI trading mechanism with India who is running out of dollars for trade per a recent article last week forcing India to use the Rupee in their new Bilateral Trade Agreements.
This is just one country that Iraq is doing business with now in their own currency going forward.
As Iraq begins to increase demand for their currency, this will begin to put price pressures on the Dinar raising its value the second half of the year.
© Goldilocks
https://shafaq.com/en/Economy/Iraq-India-trade-reaches-12-5-Billion-in-the-first-half-of-2023
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“Today, Tuesday, the Ministry of Commerce announced an agreement with the Turkish side to activate joint committees and agreements signed between them, overcoming obstacles, increasing the volume of trade exchange, and promoting joint investments.”
Joint committees and agreements between two countries in terms of a trade deal with price valuation agreements.
These two countries had to agree upon acceptable values on goods and services that would allow them to trade at fair values between the two countries.
A few months ago we read that Iraq had a bank inside of Turkey or at the very least Bank capabilities. Now, we know why. They intended to do business together.
© Goldilocks
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