Gold Is Being Reintroduced Into the Monetary System

While the media focuses on political scandals, inflation and coming up with ridiculous acronyms "TACO"... Smart money is tracking a far bigger shift: a gold revaluation is quietly underway. Garrett Goggin, CFA, says this could trigger 100X moves in select miners - and he's identified four with the biggest upside.

Syria's economic pains far from over despite Assad's ouster

KAREEM CHEHAYEB
January 24, 2025

DAMASCUS, Syria (AP) -- Samir al-Baghdad grabbed his pickax and walked up a wobbly set of stairs made of cinderblocks and rubble.

He is rebuilding his destroyed family house in the Qaboun neighborhood near Damascus, Syria 's capital.

The traditional building, which once housed his family, parents and some relatives, had a courtyard decorated with plants and tiled floors where guests were received. But the house, like scores of others nearby, has been reduced to heaps of rubble during years of civil war.

Al-Baghdadi can't afford to hire workers or rent a bulldozer to clear the debris and fix the house. He makes just about enough money as a mechanic to feed his family. But he's desperate to rebuild it because he is struggling to pay skyrocketing rent for an apartment.

"Economic opportunities are basically nonexistent," al-Baghdadi said, sitting on a pile of rubble and debris where the house's entrance used to be. "So we're going to slowly rebuild with our own hands."

Although Syrian President Bashar Assad was toppled last month in a lightning insurgency, the country's dire economic conditions that protesters decried have not changed.

The economy has been battered by corruption and 13 years of civil war. Coupled with international sanctions and mismanagement, inflation skyrocketed, pulling some 90% of the country into poverty. Over half the population -- some 12 million people -- don't know where their next meal will come from, according to the U.N. World Food Program.

With no sign of a full-scale withdrawal of international sanctions and continuing caution among potential overseas investors, the honeymoon period for the country's new rulers could be short-lived.

Qaboun, just a stone's throw away from the city center, and other eastern Damascus neighborhoods became rebel strongholds in 2012, when the country's mass protests against Assad spiraled into all-out war.

It suffered government airstrikes and artillery fire, and at one point Islamic State group extremists. In 2017, government forces reclaimed the neighborhood, but when al-Baghdadi tried to return in 2020, security forces kicked him out and forced him to sign a pledge to never return, saying it was a security zone that was off limits.

After Assad's fall, al-Baghdadi was finally able to return. Like many, he was euphoric and hoped it would pave the way for better times despite the many challenges that lay ahead, including rampant power cuts and fuel shortages.

For years, Syrian families have relied on humanitarian aid and remittances from family members living abroad to survive. On top of the gargantuan costs of rebuilding the country's destroyed electricity, water and road infrastructure, money is needed to restore its battered agriculture and industrial sectors to make its hobbled economy productive again.

The United Nations in 2017 estimated that it would cost at least $250 billion to rebuild Syria. Some experts now say that number could reach at least $400 billion.

Wealthy Gulf countries have pledged to build economic partnerships with Syria's new interim rulers, while Washington has eased some restrictions without fully lifting its sanctions. The U.S. Treasury Department issued a six-month license authorizing some transactions with Syria's interim government. While it includes some energy sales, Syrians say it isn't enough.

Sinan Hatahet, an economic researcher at the Washington-based Atlantic Council think tank, said the U.S. actions were the "bare minimum" needed to show good faith to Damascus and aren't enough to help Syria jumpstart its economy.

"It doesn't help the private sector to engage," Hatahet said. "The restrictions on trade, the restrictions on reconstruction, on rebuilding the infrastructure are still there."

While countries are hesitant to make more impactful decisions as they hope for a peaceful political transition, many Syrians say the economy can't wait.

"Without jobs, without huge flows of money and investments ... these families have no way of making ends meet," Hatahet said.

The executive director of the World Food Program echoed similar sentiments, warning Syria's neighbors that its food and economic crisis is also a crisis of security.

"Hunger does not breed good will," Cindy McCain said in an interview during her first visit to Damascus.

In the Syrian capital's bustling old marketplace, crowds of people pack the narrow passageways as the country's new de facto flag is draped over the crowded stalls. Merchants say the atmosphere is pleasant and celebratory, but nobody is buying anything.

People stop to smell the aromatic and colorful spices or pose for photos next to masked fighters from the ruling Hayat Tahrir al-Sham group guarding the market's entrances.

"We're very happy with our liberation, thank God, but there are few jobs," said Walid Naoura, who works with his father at a clothing shop. "Yes, we've been relieved of thuggery and oppression, but all these people here have come to celebrate but not to buy anything because things are expensive."

Nearby, Abou Samir, a carpenter, saws a piece of wood as he assembles a chest of drawers. There is no electricity to power his machinery, so he's doing it by hand.

"I'm working at a loss ... and you can't make larger workshops work because there is no electricity," he said.

His sons live abroad and send money to help him get by, but he refuses to stop his carpentry work which has been his livelihood for 50 years.

In Qaboun, al-Baghdadi sips tea on a makeshift porch overlooking his neighborhood, which has turned into empty plots and a gathering point for local buses and minivans. It was a successful day because he managed to connect an electric cable to power a single light bulb -- but part of his roof collapsed.

He still hasn't been able to secure running water but hopes that he and his family can move into the house with its many memories before summer, even if it is far from completion because of his financial situation.

"I prefer that to living in a palace elsewhere," al-Baghdadi said.

Continue Reading...

Popular

Kyndryl Wins Wall Street Support As 'Triple A' Plan Fixes Profits After IBM Split: Analyst

Guggenheim analyst initiates coverage on Kyndryl with a Buy rating and a price forecast of $30. Kyndryl has executed a successful turnaround strategy and is well-positioned to gain share in the growing IT infrastructure services market. Guggenheim analyst initiates coverage on Kyndryl with a Buy rating and $30 price target. Kyndryl has executed a successful turnaround strategy and is well-positioned in the growing IT infrastructure services market.

Cathie Wood Dumps $11.6 Million Worth Of Tesla Stock: Here Is What Ark Purchased Instead

On Wednesday, Cathie Wood-led Ark Invest made significant trades involving Tesla Inc. (NASDAQ:TSLA), Coinbase Global Inc.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after January 29, it may be too late.

Trump's $2,000 Tariff Dividend Stumbles On Math: Cost Far Exceeds Revenue

Trump's $2,000 tariff rebate plan faces a major math gap, with estimated costs up to $606.8B—far exceeding tariff revenues in 2025 and 2026, says the Tax Foundation.

These 8 Democrats voted with Republicans on the government shutdown deal. Here's how they explain it

WASHINGTON (AP) — The Democratic senators — eight in total — faced almost instant blowback from members of their own party as to allow the Senate to move forward on that would reopen the government.

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

Security Matters (SMX) Shares Jump Over 48% After Hours: What's Going On?

Security Matters PLC shares surged over 48% in after-hours trading following the company's presentation of its molecular identity technology.

Biogen, Eisai File In Japan To Make Leqembi A Weekly At-Home Alzheimer's Shot

Eisai files for Japan approval of a weekly at-home Leqembi injection, offering an alternative to IV dosing and aiming to streamline Alzheimer's care.

The Market Just Crossed a Dangerous Line - Ad

The man who predicted the 2008 crash and 2020 says today's soaring markets are NOT a bubble - they're something far stranger and more dangerous. He says it's about to change everything you know about money.

JPMorgan Forecasts Bitcoin Bottom, Anticipates $28.3 Trillion Challenge To Gold By 2026

Analysts at JPMorgan have pinpointed the lowest point of the ongoing Bitcoin (CRYPTO: BTC) price fall and also projected a substantial chall

Iran confirms seizure of oil tanker in the Strait of Hormuz

TEHRAN, Iran (AP) — Iran on Saturday confirmed as it traveled through the narrow Strait of Hormuz over violations including carrying an illegal consignment, state media reported.

Time to Say Goodbye to "Old" Dollar? Say Hello to "Trump's New Dollar" - Ad

If you have any money in U.S. dollars... learn how to prepare for "Trump's new dollar"... Because this could be the biggest change to our financial system in 54 years. President Trump even called it: "The greatest revolution in financial technology since the birth of the internet itself."

Veterans Day: What's open, what's closed

WASHINGTON (AP) — The Veterans Day holiday began more than a century ago, albeit under a different name, as a celebration of the end of World War I. Over time its name and purpose evolved into a day of recognition for of as well as those currently serving in uniform.

Trump Triggered 70% Gains Overnight -- This Rare Earths Stock Could Be Next - Ad

Trump's turning tiny mining stocks into overnight fortunes... and this little-known rare earths miner could be his next billion-dollar BUY. If Trump cuts a deal you could see a 50% to 200% pop overnight. But you must act before the next deal hits the wire.

Cathie Wood Bets Big On These Stocks As Bitcoin, Ethereum Crash —Dumps Instagram Rival

On Tuesday, Cathie Wood-led Ark Invest made significant trades, notably increasing its holdings in Bullish (NYSE:BLSH), Coinbase Glo

Weiss Gold Veteran Makes Shocking New Call - Ad

Weiss expert Sean Brodrick went out on a limb last year and declared a historic event would send the yellow metal to $3,150. People laughed at him at the time, but he was off by just two days. Now, Sean has a shocking new prediction for gold ... and reveals a little-known way to get ahead of this bull market.

MacKenzie Scott Has Donated More Than $19 Billion, Yet Her Wealth Grows Faster

MacKenzie Scott, the billionaire philanthropist and ex-wife of Amazon founder Jeff Bezos, has donated a staggering $19.25 billion since 2020.

Why Are 21 Billionaires Moving Their Money ASAP? - Ad

One of the biggest stock market events in 25 years is rapidly unfolding... The economist who predicted the 2008 Financial Crisis says it will be: "The Biggest Crash of Our Lifetime." It could cut the entire tech marketing by HALF.

China announces restrictions on chemicals after deal with Trump on fentanyl tariffs

WASHINGTON (AP) — China said Monday it is making good on its pledge to crack down on chemicals that can be used to make fentanyl, a key issue for President during recent talks with Chinese leader as they aimed to .

Tesla Sets A New Sales Record, But Not In America

Tesla set several records in the third quarter. The company now has a big annual record set, but its not for the American market.

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26? - Ad

Elon Musk may be set to create more "Musk Millionaires" as soon as January 26... Because on that day, he's expected to officially launch his Optimus robot... An AI-powered robot that Elon himself says will be capable of "doing anything bar nothing". Now, it's important to point out that Elon hasn't released it to the public yet... But ahead of the launch, one Silicon Valley insider has identified a "backdoor way" for any American to invest in Optimus with a regular brokerage account...

Are Markets Open On Thanksgiving? Here's What's Open And What's Closed On November 27

Find out what's open and closed on Thanksgiving and Black Friday 2025. Check hours for banks, USPS, FedEx, and stores in our holiday guide.

What's Up With The Jump In Oracle Stock Today?

Oracle Corp (NASDAQ:ORCL) shares are trading higher on Wednesday following an analyst update. Here's a look at what's going on.

Gold Is Being Reintroduced Into the Monetary System - Ad

While the media focuses on political scandals, inflation and coming up with ridiculous acronyms "TACO"... Smart money is tracking a far bigger shift: a gold revaluation is quietly underway. Garrett Goggin, CFA, says this could trigger 100X moves in select miners - and he's identified four with the biggest upside.

Why Is Sigma Lithium Stock Gaining Friday?

Sigma Lithium posts Q3 revenue of $28.5M, EPS loss narrows to 10 cents, as sales volumes rise 21% and lithium prices jump 33% Q/Q.

Brazilian environmentalist gets funded by DiCaprio after false forest fire accusation by Bolsonaro

SAO PAULO (AP) — Being falsely accused of setting fire in with funds from an Oscar-winning actor eventually became a blessing in disguise for Caetano Scannavino, the founder of a nonprofit organization in the heart of the rainforest.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after January 29, it may be too late.

TSMC Chief CC Wei Says Nvidia CEO 'Wants More Chips' As Jensen Huang Enjoys Hotpot In Taipei And Praises The Taiwanese Foundry: 'No TSMC, No Nvidia'

Nvidia CEO Jensen Huang praised TSMC as vital to his company's success during his Taiwan visit, where he met TSMC chief CC Wei over hotpot and reportedly requested more chips amid surging AI demand and U.S. export restrictions.

Latest opioid settlement plan with OxyContin maker Purdue and Sackler family getting few objections

NEW YORK (AP) — Lawyers representing OxyContin maker Purdue Pharma, branches of the Sackler family that own it, cities, states, counties, Native American tribes, people with addiction and others across the U.S. are expected to deliver a nearly unanimous message for a bankruptcy court judge Friday: Approve a plan to settle thousands of opioid-related lawsuits against the company.

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Summit of EU, Latin America and Caribbean nations aims to strengthen ties amid US military operation

BOGOTA, Colombia (AP) — Representatives of European, Latin American and Caribbean nations will meet Sunday in Colombia to try to strengthen ties amid divisions in the Western Hemisphere over targeting alleged drug-carrying vessels.

StubHub Analyst Warns Of Timing Shifts And Weak Visibility

StubHub shares slid after a key analyst cut long-term growth expectations and flagged rising uncertainty around 2026 momentum.

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

Cameron Winklevoss Digs Up News Report From 2013 To Make A Point About Bitcoin: 'You Will Miss Out On The World's Greatest Opportunities...'

Gemini co-founder Cameron Winklevoss took potshots Sunday at the British daily newspaper Financial Times for its 12-year-old article that predicted Bitcoin (CRYPTO: BTC) would become the next “bubble.”

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright technicaltrading.org
Privacy Policy | Terms of Service