A system for generating pressure pulses in a drilling fluid, flowing within a drill string, comprising: an annular drill collar flow channel, a pulse generating device longitudinally and axially positioned within the annular drill collar flow channel such that said drilling fluid can flow through said annular drill collar flow channel and said drilling fluid can be guided into two sets of selectively reversible flow, an upper flow connecting channel, a lower flow connecting channel, said upper and lower flow connecting channels being connected to said annular drill collar flow channel, an inner flow channel to which the upper and lower flow connecting channels are connected, one or more flow throttling devices adapted to act upon the annular drill collar flow channel and to transmit signals thereby, wherein said pulse generating device comprises a turbine comprising turbine blades, and a flow diverter, a coil assembly, a flow throttling orifice, a motor, wherein the turbine resides near and within proximity of the flow diverter, and wherein the flow diverter is adapted to divert drilling mud from said annular drill collar flow channel into and away from the turbine blades such that the force of the drilling mud causes said turbine blades and said turbine to rotationally spin around the coil assembly characterized in that it further comprises a pilot seat orifice comprising a pilot and a pilot seat able to switch between a closed position wherein the inner flow channel is sealed and an open position, a magnetic pressure cup outer magnets outside the magnetic pressure cup, and inner magnets inside the magnetic pressure cup, wherein the outer magnets are magnetically coupled to the inner magnets such that rotational movement of the motor and outer magnets is translated to linear movement of the inner magnets via magnetic polar interaction and wherein the inner magnets are coupled to the pilot such that linear movement of the inner magnets moves the pilot into or out of the pilot seat to thereby open or close the pilot seat orifice, and wherein closing of the pilot seat orifice lifts the flow throttling device into the flow throttling orifice to generate a pulse and moving the pilot away from the pilot seat causes the flow throttling device to move away from the flow throttling orifice to generate a negative pulse. an annular drill collar flow channel, a pulse generating device longitudinally and axially positioned within the annular drill collar flow channel such that said drilling fluid can flow through said annular drill collar flow channel and said drilling fluid can be guided into two sets of selectively reversible flow, an upper flow connecting channel, a lower flow connecting channel, said upper and lower flow connecting channels being connected to said annular drill collar flow channel, an inner flow channel to which the upper and lower flow connecting channels are connected, one or more flow throttling devices adapted to act upon the annular drill collar flow channel and to transmit signals thereby, wherein said pulse generating device comprises a turbine comprising turbine blades, and a flow diverter, a coil assembly, a flow throttling orifice, a motor, wherein the turbine resides near and within proximity of the flow diverter, and wherein the flow diverter is adapted to divert drilling mud from said annular drill collar flow channel into and away from the turbine blades such that the force of the drilling mud causes said turbine blades and said turbine to rotationally spin around the coil assembly a pilot seat orifice comprising a pilot and a pilot seat able to switch between a closed position wherein the inner flow channel is sealed and an open position, a magnetic pressure cup outer magnets outside the magnetic pressure cup, and inner magnets inside the magnetic pressure cup, wherein the outer magnets are magnetically coupled to the inner magnets such that rotational movement of the motor and outer magnets is translated to linear movement of the inner magnets via magnetic polar interaction and wherein the inner magnets are coupled to the pilot such that linear movement of the inner magnets moves the pilot into or out of the pilot seat to thereby open or close the pilot seat orifice, and wherein closing of the pilot seat orifice lifts the flow throttling device into the flow throttling orifice to generate a pulse and moving the pilot away from the pilot seat causes the flow throttling device to move away from the flow throttling orifice to generate a negative pulse.