The International Monetary Fund (IMF) has approved a more than $3 billion loan allegedly to support Egypt’s ailing economy. But many experts note that the timing of this massive bailout is suspect because of Egypt’s recent moves to join the China- and Russia-aligned BRICS economic union.
In the past year, Egypt has been hit exceptionally hard by soaring oil and commodity prices resulting from global economic turmoil. Foreign portfolio investors have already pulled out around $22 billion from Egyptian debt markets. (Related: Egypt joins BRICS-owned New Development Bank, expresses interest in becoming full-fledged member of BRICS.)
In response to the economic turmoil, Egypt devalued its currency in March and then again by around 18 percent in late October, causing the $400 billion economy to face the worst foreign-exchange crunch in over half a decade.
Egypt has asked the IMF to provide it with more support – on top of a previous $12 billion IMF loan the country is still paying back.
The executive board of the IMF noted that it will send the approximately $3.1 billion bailout in tranches, and the first disbursement of about $347 million will be provided immediately.
As part of the loan agreement, Egypt has acquiesced to several loan conditions. This includes committing to “a permanent shift to a flexible exchange rate regime to increase resilience against external shocks and to rebuild external buffers.”
The Central Bank of Egypt has also promised several changes, including more efforts to control inflation and stabilize commodity prices, improve efficiency of the nation’s monetary policy and remove a requirement for importers to acquire letters of credit to buy goods from abroad.
Furthermore, the government of Egypt has introduced structural reforms to reduce government spending, level the playing field across all economic agents, facilitate more private sector-led growth and strengthen governance and transparency in the public sector.
IMF bribing Egypt to stop de-dollarization efforts
Holly Seeliger of “Zoon Politikon” noted that BRICS enticing other developing economies like Egypt to join their economic union is part of a global de-dollarization effort to topple the American dollar’s position as the world reserve currency.
“Egypt stepping up as de-dollarization efforts seem to have sent shockwaves to the West,” said Seeliger. “So, now the IMF has arrived to rescue the petrodollar by bribing Egypt to stop its de-dollarization efforts.”
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Michael Mahanta, writing for TFIGlobal News, agreed with Seeliger. He wrote: “It is well known how IMF often secures or advances U.S. interests by using its economic clout. It has done it again, the case of Egypt, in the name of economic assistance.”
Official statements from the IMF and Egypt claim that the $3.1 billion loan will catalyze about $14 billion in additional financing from the country’s international and regional partners. This includes new financing from allies in the Gulf states “through the ongoing divestment of state-owned assets as well as traditional forms of financing from multilateral and bilateral creditors,” claimed the IMF.
Learn more about BRICS and international finance at CurrencyReset.news.
Watch this episode of “Zoon Politikon” as host Holly Seeliger discusses the IMF’s attempt to bribe Egypt into staying in the West’s sphere of influence.
- Preserve your retirement with physical precious metals. Receive your free gold guide from Genesis Precious Metals to learn how.
This video is from the Zoon Politikon channel on Brighteon.com.
More related stories:
- BRICS nations moving rapidly to circumvent the US dollar as the World Reserve Currency.
- End of petrodollar edges closer as Saudi Arabia looks set to join new China-dominated ‘BRICS’ economic alliance.
- Economists warn: IMF, World Bank may have little space to maneuver as they lend record amounts to poorest countries.
- BRICS member nations are creating new reserve currency to challenge the dollar, Andy Schectman tells Mike Adams.
- Argentina, Iran apply to join BRICS group of emerging economies.
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Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
