More News, Rumors and Opinions Friday Afternoon 5-5-2023
KTFA:
Clare: America's economy is
"confusing"... the shares of 130 banks collapsed!
5/05/2023
Shares of 130 regional banks (at the state level) plunged in the United States, by more than 5%, according to what was shown by a site that tracks the banking sector in the United States.
he decline came in light of concerns about the safety of
the US banking sector, in light of a wave of deposit withdrawals, and following
the US Federal Reserve's decision to raise the main interest rate.
Shares of US local banks recorded strong losses, led by
"Bacoist" stock, which fell by more than 45%.
Yesterday, the "Wall Street" stock market closed
down, and the "Dow Jones" industrial index fell by 0.86% to 33127.74
points.
The "S&P 500" index fell by 0.72% to 4061.22
points, and "Nasdaq" fell by 0.49% to 11966.40
points. LINK
Clare:
Iraq expects to start a project for Total at a cost of $ 27 billion
5/03/2023
Oil Minister Hayan Abdul Ghani said on Wednesday that Iraq
and Total (EPA:TTEF) Energize expect to start a much-delayed $27 billion
project within the next two weeks.
He added at a conference in Baghdad that he expects that
five-way agreements related to the deal will be signed within the next two
weeks, paving the way for the start of implementation.
The deal was signed in 2021, under which Total Energies
will build four oil, gas and renewable energy projects with an initial
investment of $10 billion in southern Iraq over 25 years, but it was delayed
amid disputes between Iraqi politicians over the terms.
Iraq said last month it had agreed to take a small 30 percent
stake in the project, reviving the deal that Baghdad hopes will re-attract
foreign investment to a country enjoying relative stability after years of
conflict and tension.
Qatar Energy will also own a stake in the project.
"We can confirm that discussions are
progressing," a spokesman for Total Energies said.
Patrick Pouyanne, CEO of Total Energies, said last week
that the two parties had reached an agreement on Iraq's share in the project.
"I think it's a good arrangement that we've finished
all the paperwork," Pouyanne said on a call with shareholders last week,
during which he reviewed the company's first-quarter results.
Pouyanne added, "The government of Iraq approved the
entire contract, with no amendment whatsoever... So for me that was more than
good news." LINK
*************
Courtesy of Dinar Guru
Mnt Goat ...We will soon
know one way or the other if all this fuss about the dinar was really about a
reinstatement or not. I can only go by what I am told and what I read in the
news. For me we should expect to see a major revaluation of at least between
1.00 - 1.50 dinars to the dollar. The articles told us and as the prime
minister told the citizens, the dinar is worth much more than the dollar. If
you pay attention, it does not take a rocket scientist to see that early June
is significant for the currency and the economy of Iraq. Something BIG is
about to change Iraq forever.
Walkingstick [via Frank26]
{CBI's private bank meeting minutes continued} [2. ATMs in private
banks linked internationally] Every Private bank of the Central Bank
of Iraq will have 2 ATMs. You know our firm has 6 banks. 4 in
Jordon and 2 in Baghdad. The two banks in Baghdad unveiled their 2 new
ATMs. Citizens can see them. One of those ATMs is mobile. The
other ATM is permanently stationed outside of the bank on the wall of the
bank...there is a decal on the face...the decal depicts the denomination
information. It is just words right now...it says, 'Iraqi citizens will
soon be able to get from the ATM machines a 1, 5, 10, 20 etc'...both of the
ATMs will be accompanied with a dedicated person 24/7 to train customers on how
to use the ATMs once they go online...
Money
Market Funds are Crushing Banks
Heresy Financial: 5-4-2023
There is a reason so many people are pulling their money
out of banks right now and instead putting it in money market funds.
Banks are falling like dominoes right now with PAC West
Bank Corp. down 53% in after-hours trading. Western Alliance Bank Corp was down
23% in after-hours trading. Comerica is down 9% in after-hours trading.
The behemoths that have fallen like First Republic Bank
and Silicon Valley Bank, and money market funds are attracting record net
inflows.
As we will see, the reason is that banks offer more risk
and less reward, while money market funds right now have far less risk and
offer a much better return.
Timecodes
0:00 Introduction
2:17 Counterparty Risk of Banks
3:48 Money Market Funds from Brokerage Account
5:51 Reverse Repo Agreements and Money Market
Funds
7:34 Rewards Towards the Risk
9:35 Lower Risk in Government Bonds Compared to
Corporate Bonds
https://www.youtube.com/watch?v=GScjJrFtWRo
Smaller/Regional
Banks SURGE HIGHER On Rumor Of Fed. "LIFELINE." Important Updates!
Greg Mannarino: 5-5-2023
https://www.youtube.com/watch?v=d_jyxAECHPw