Awake-In-3D, Economics Dinar Recaps 20 Awake-In-3D, Economics Dinar Recaps 20
How FED’s New Bully Tactics Are Blocking Iraq from Joining BRICS
On July 28, 2024 By Awake-In-3D
Big Banksters increase their stranglehold on Iraq to block participation in the new gold-backed UNIT currency system.
The Banksters at the U.S. Federal Reserve have intensified their bullying tactics against Iraq.
In This Article
How FED’s New Bully Tactics Are Blocking Iraq from Joining BRICS
On July 28, 2024 By Awake-In-3D
Big Banksters increase their stranglehold on Iraq to block participation in the new gold-backed UNIT currency system.
The Banksters at the U.S. Federal Reserve have intensified their bullying tactics against Iraq.
In This Article
The U.S. Federal Reserve’s New Approach
Potential Impact on the Iraqi Banking System
The Federal Reserve’s Three Pillars of Strategy
Consequences for the Iraqi Government and Economy
This escalation seems driven by a clear motive:the FED will not stand idly by and allow Iraq to join the BRICS alliance or participate in the new gold-backed UNIT currency system.
This aggressive stance threatens Iraq’s financial stability and sovereignty, pushing the country towards an economic crisis.
The Iraqi government now faces a pivotal moment. It must rise to the challenge and stand up to the FED’s coercive measures to protect its economy and pursue its independent financial path.
The U.S. Federal Reserve has adopted a new, stricter policy toward Iraq, potentially creating an increase the dollar’s value against the dinar.
Economic researcher Ziad Al-Hashimi warns this shift will place significant pressure on Iraq’s banking system and economy.
Iraq officially expressed interest in joining BRICS in November 2023. The Iraqi Prime Minister, Mohammed Shia Al-Sudani, during a meeting with representatives of the Iraqi community in Russia. Photo: PMO
The U.S. Federal Reserve’s New Approach
Al-Hashimi reveals that the U.S. Federal Reserve’s latest strategy aims to curb any attempts by Iraq to stabilize its economy without adhering to Federal regulations.
The move is seen as a response to Iraq’s potential alignment with the BRICS alliance and participation in the new gold-backed UNIT currency system.
The Banksters at the US Federal Reserve have escalated their tactics, not wanting Iraq to break free from their influence.
Potential Impact on the Iraqi Banking System
The new strategy involves continued sanctions on certain Iraqi banks, ensuring these institutions remain banned from dollar transactions.
The Iraqi Stock Exchange Building
This action threatens the stability of Iraq’s banking system, limiting its ability to function efficiently and putting additional strain on the national economy. The FED’s bullying tactics aim to prevent Iraq from gaining financial independence and participating in the BRICS alliance.
The Federal Reserve’s Three Pillars of Strategy
The Federal Reserve’s strategy consists of three main pillars:
Continuation of Sanctions: Previous sanctions on specific banks will remain, indefinitely banning them from dollar trading.
Closure of Non-compliant Banks: Banks violating federal regulations regarding money laundering and dollar smuggling will face closure.
Exclusion of Government Intervention: The Iraqi government will be prevented from intervening in dollar-related matters, leaving this responsibility solely to the Central Bank of Iraq.
This strategy aims to tighten control over Iraq’s financial dealings and mitigate political influences from the Iraqi government.
The FED’s actions are a clear attempt to ensure Iraq does not join the BRICS alliance or adopt the gold-backed UNIT currency system.
Consequences for the Iraqi Government and Economy
The Federal Reserve’s new approach places the Central Bank of Iraq in a precarious position, as it struggles to balance internal pressures with the need to comply with U.S. regulations.
This situation will lead to increased demand for the dollar, causing a devaluation of the Iraqi dinar.
The Iraqi government faces a critical decision: to comply with the Federal Reserve’s stringent measures or to challenge these tactics and seek alternative alliances, such as joining the BRICS and adopting the gold-backed UNIT currency system.
It’s time for the Iraqi government to stand up to the FEDand assert its financial independence.
The Bottom Line
The U.S. Federal Reserve’s intensified approach toward Iraq threatens to destabilize the country’s economy.
With significant implications for the Iraqi dinar and the banking system, the Iraqi government must navigate these challenges carefully. Whether to stand up to the Federal Reserve or find a way to comply will shape Iraq’s economic future.
The Banksters at the US Federal Reserve will not easily allow Iraq to join the BRICS alliance, but the Iraqi government must take a stand for its sovereignty and economic well-being.
Contributing Source:https://burathanews.com/arabic/economic/448951
© GCR Real-Time News
Visit the GCR Real-Time News website and search 100’s of articles here:Ai3D.blog
Join my Telegram Channel to comment and ask questions here:GCR_RealTimeNews
Follow me on Twitter:@Real_AwakeIn3D
https://ai3d.blog/how-feds-new-bully-tactics-are-blocking-iraq-from-joining-brics/
Read More
Chats and Rumors, MarkZ Dinar Recaps 20 Chats and Rumors, MarkZ Dinar Recaps 20
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: BUENOS DIAS MARK. HOPE THIS IS ALL ENDING SOON
Member: Hope everyone had a great weekend….. what is the hold up with the RV???
Member: Did anybody ever think this would take this long
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: BUENOS DIAS MARK. HOPE THIS IS ALL ENDING SOON
Member: Hope everyone had a great weekend….. what is the hold up with the RV???
Member: Did anybody ever think this would take this long
Member: Is it still possible to see the RV in July?
MZ: It is still very possible. And that is an impressive comment as there is only 2 days left in July. Remember though that we do not know the timing…..but is it possible? Very.
MZ: Its Monday Morning…The bond market is still quiet. I never expect any news on that front until mid- afternoon on Mondays.
MZ: I have heard nothing negative out of Iraq this weekend. There is discussion about the immediate approval of the HCL We were always told that within hours of possibly days of the HCL being passed we would see that rate change.
Member: “The Parliamentary Oil and Gas committee expressed today, Sunday it’s optimism about the imminent approval of the Oil and Gas Law which has been suppressed for 19 years.”
MZ: Isn’t that a lovely article!
MZ: We know Iraq is moving forward and have made their bank reformations. Then Mountain has an article that was pure gold.
MZ: https://dinardetectives.com/mnt-goat-381/
MZ: “ECONOMIST: THE IRAQI BANKING SECTOR HAS ACHIEVED SIGNIFICANT GROWTH.” He/she dives into some really cool background on the project to delete the 3 zeros. They explain like I have tried to. Well done Mountain Goat!!!!! They did a brilliant job. This is your required reading for the day.
MZ: This was a positive weekend for us on the Iraqi dinar front.
Member: What is the HCL?
MZ: The hydro carbon law. This is where the Kurdish region of Iraq shares oil profits, government revenues ect …how they handle payments and who gets what. It’s been a huge stickler for 19 years in Iraq.
Member: US Treasury told Iraq if they didn’t RV their currency per agreements “immediately” the UST would force the issue. Iraq said some banks are doing business with Iran. UST seized those banks into a manageable entity. Iraq is now to release the RV according to the UST.
MZ: I don’t know who posted that information, but it’s not far off.
Member: I think Mountain goat said that one?
Member: Mike Bara posted that as well!
Member: it's all over the place -Thursday blackout
Member: new president for Venezuela..so happy for them. great timing !!
Member: Wolverine said he has to go away for a couple months so could be good news
Member: I heard He is a bondholder, going overseas to get paid, and will be on nda. Hope it’s true.
Member: I ran into a guy that lives in Washington DC at the lake this weekend and he said Washington DC is absolutely a ghost town he said it's unbelievable
MZ: “Inflation news From China tells a sorry tale.” What we are seeing in china right now is what we will soon see in the US. They have broken the consumers. This is the deflationary stage. It will be far worse in the US than it is in china. The working class cannot afford anything and just stop spending. This is a death spiral and economic collapse. It’s a cycle and you are watching it.
Member: Keeps seeing posts on telegram about fed now pushing on Iraq to not join BRICS? Would love your input..
Member: Mark Do you think Iraq was really told by us Treasury not to hold RV because of Iran ?
Member: Iraq is likely to take a huge role in the new setup of our 'alliance'. Maybe that is the reason for the delays. Could be so great for Iraq. Iraq; finally able to 'shine' and show it's 'mettle'.
Member: So are we waiting for the unsustainable fiat system to finally crash?
Member: Mark are you still hearing 3.86 as the rate?
Mod: MOST OF THE QUESTIONS I AM SEEING HERE ARE ALREADY ADDRESSED IN MARK'S INTEL CHANNEL ON TELEGRAM: https://t.me/+K_GNVfTI0gFkZWYx
Member: Boy was Reno absolutely hopping this past weekend!
Member: Come on white hats pull this plug!!!
Member: I’ve said our whole world is going to change. A better world where we are sovereign, and don’t need a big government to control us!
Member: Thanks Mark, Mods and all for everything you do!!! God Bless All!!!
Stacie Z joins the stream today. Please listen to the replay for her information and opinions.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...
Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut
THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!
Read More
Economics, News Dinar Recaps 20 Economics, News Dinar Recaps 20
TNT: Tishwash: Manipulating budget tables is a scandal waiting to break out
The issue of tampering with the budget schedules sparked great controversy in the House of Representatives, after approximately 2 trillion dinars from the budget were lost in a dramatic manner.
The General Secretariat of the Council of Ministers sent a letter to the House of Representatives to inquire about the manipulation occurring in the budget tables, as it was stated in the letter, “After examining the printed tables attached to the Parliament letter signed by the ( acting) Speaker of the House of Representatives, it was revealed that there are fundamental differences in them compared to the sent copy.” From the Council of Ministers and contrary to the text of the parliamentary decision.
TNT:
Tishwash: Manipulating budget tables is a scandal waiting to break out
The issue of tampering with the budget schedules sparked great controversy in the House of Representatives, after approximately 2 trillion dinars from the budget were lost in a dramatic manner.
The General Secretariat of the Council of Ministers sent a letter to the House of Representatives to inquire about the manipulation occurring in the budget tables, as it was stated in the letter, “After examining the printed tables attached to the Parliament letter signed by the ( acting) Speaker of the House of Representatives, it was revealed that there are fundamental differences in them compared to the sent copy.” From the Council of Ministers and contrary to the text of the parliamentary decision.
Member of the Parliamentary Finance Committee, Representative Jamal Kujar, confirmed that the manipulation occurred after voting on the budget tables in Parliament.
He pointed out in a press statement that it was not known who was the party that tampered with the schedules, calling for an investigation to be opened into the matter.
The House of Representatives held its twenty-seventh session, headed by Mr. Mohsen Al-Mandalawi, Acting Speaker of the House, today, Monday, and in the presence of 199 deputies. The House of Representatives voted last May 18 on the schedules of the federal general budget law.
It seems that suspicions of losing the amount revolve around the Finance Committee as well as the Presidency of the House of Representatives.
For its part, the Finance Committee in the House of Representatives vacated its space regarding the issue of tampering with the budget tables for the current year.
Deputy Chairman of the Parliamentary Finance Committee, Ahmed Mazhar, told Al-Ma'louma Agency, “The committee is far removed from the issue raised regarding tampering with the budget tables. It discussed the tables according to the CD sent by the government and then submitted it for a vote to the Presidency of the House of Representatives.”
He added, "The government's raising of the issue of tampering with 2 trillion dinars in the budget tables, as it claims, is very surprising."
He explained, “If there is tampering with the budget tables, then the Presidency of the House of Representatives can be questioned.”
In order to clear its name, Parliamentary Finance formed an investigative committee on the matter, which aroused the ire of the Presidency of the Iraqi Council of Representatives.
For his part, a member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, expressed his surprise at the Parliament Presidency's objection to forming an investigative committee regarding the changes that occurred in the budget.
Al-Kadhimi told Al-Maalouma Agency, “Forming an investigative committee is the prerogative of the Finance Committee, expressing his regret over the objection of the Presidency of Parliament to the formation of the committee that does not require approval.”
He added, "The Finance Committee is in the process of inquiring about the reason for the difference in the budget tables between the parliamentary version and the government version, noting that the committee asked the relevant authorities to reveal the manipulation of the numbers."
In addition, the representative of the State Support Bloc, Muhammad Al-Ziyadi, confirmed that signatures had been collected to include a paragraph discussing the government's claim that the versions of the budget tables were different after voting on them.
Al-Ziyadi told the Maalouma Agency, “The government sent a letter to the House of Representatives claiming that the schedules that were sent to it by Parliament after the House of Representatives voted on them differ from those schedules that it sent to Parliament.”
He added, "This book created a confused atmosphere between Parliament and the government, and parliamentary signatures were collected to include a paragraph to discuss the issue in order to determine the truth of the dispute between Parliament and the government regarding the schedules and who was the party behind it. link
************
Tishwash: Iraq speeds up steps to join WTO
The Ministry of Trade has doubled its efforts to join Iraq to the World Trade Organization (WTO) after participating in a wide round of negotiations that pave the way for full membership. These efforts were met with widespread economic welcome, which sees that this approach will achieve a package of important achievements, foremost of which is enhancing development, building capacities, and opening the door wide to the use of the highest standards of governance, in addition to the most important factor represented by the wide openness of global markets to Iraq, the advancement of the private industrial sector, and the improvement of the local product.
According to the Minister of Trade, Athir Dawood Al-Ghariri, the recent negotiations for Iraq constitute “a qualitative event and a confirmation of what the government promised through its program to reform the economic situation, considering the private sector as an essential part and the backbone of the Iraqi economy,” indicating that “all countries are keen on Iraq’s return as a global economic player.”
In support of the recent negotiations conducted by Iraq, the Ministry of Trade also participated in the technical meetings of the UNCTAD regarding the accession of Arab countries to the World Trade Organization in Istanbul, which witnessed, according to the Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, who represented the Ministry of Trade in these meetings, discussing the outcomes of the 13th Ministerial Conference of the World Trade Organization, the process of Arab countries’ accession to the organization, and how Iraq can benefit from these experiences in its process of accession. The importance of trade in services in supporting the economies of Arab countries and enhancing their growth was also reviewed.
In the midst of this, the Prime Minister’s Advisor for Financial Affairs, Dr. Mazhar Mohammed Salih, believes that “in the midst of the changes in the international commercial and financial space, Iraq has moved to important organizational levels in the transition to a market economy to break the effects of its international isolation by engaging in a strong area of economic liberalism that focused on liberalizing the areas of Iraq’s foreign trade in goods and services and the means of financing them, despite the fluctuations in its organization, as well as the development and expansion of areas of progress achieved in some financial services and improving the environment for foreign investment, which allows foreign banks to operate in Iraq and allows the transfer of capital and currency in a manner that serves Iraq’s openness to the world in the conditions of a difficult-to-handle central rentier economy.”
In a statement to the Iraqi News Agency (INA), Minister Al-Ghariri expressed his “aspiration for the fourth round of negotiations to be held during the first quarter of next year,” stressing that “this acceleration means that the negotiations are proceeding with rapid steps towards Iraq’s accession to the World Trade Organization, considering that Iraq is an important economic bloc and all countries are keen for it to return as an economic player in a multilateral system.”
In addition to the economic gains that can be achieved by opening up to the global market, the economic researcher and consulting engineer, Imad Al-Muhammadawi, believes during his interview with “Al-Sabah” that “joining has many other advantages besides opening up to global markets, represented in “enhancing development, building capacities, and opening the door wide to using governance standards in all aspects of economic activities, in addition to the most important factor, which is opening global markets to the economies of the least developed countries or what are called Third World countries, not to mention improving the financial side of the participating countries in terms of reducing financial risks and removing obstacles facing the participating countries.”
Al-Muhammadi added that joining also constitutes a factor in reducing poverty, by creating opportunities for the unemployed through increasing economic activities and developing both the private and public sectors.
The WTO aims to ensure that foreign companies, investors and governments enjoy stability and predictability, confidence that trade barriers should not be arbitrarily raised, investment is encouraged, jobs are created and consumers can fully enjoy the benefits of competition, choice and low prices.link
Tishwash: MP: Washington is delaying the confirmation of the withdrawal clause from Iraq - Urgent
Member of Parliament, MP Rafiq Al-Salihi, confirmed today, Sunday (July 28, 2024), that Washington is procrastinating in determining the paragraph of withdrawal from Iraq, noting that the exit of US forces is necessary to achieve the integrity of national security.
Al-Salihi said in an interview with Baghdad Today, "An important part of achieving integration in the national security system of Iraq is the absence of American forces from its lands, which we see as playing a negative role in the security scene through repeated attacks."
He added, "Washington is delaying its discussions with Baghdad in determining the withdrawal paragraph through fixed timetables, and this matter reflects America's agenda in Iraq and its attempt to remain despite the popular rejection of all spectrums and the existence of a parliamentary decision in this direction."
Al-Salihi pointed out that "the security situation in Iraq is stable and it has large forces capable of warding off terrorist threats or any other attacks," stressing that "the situation necessitates the withdrawal of American forces from the country and any manipulation or procrastination by the administration in Washington is unacceptable and the Iraqis will not remain silent about that."
The debate over the US withdrawal from Iraq has flared up again in the past few weeks, coinciding with the return of strikes and targeting of bases housing US forces in Iraq and Syria, while the US Central Command had indicated a few days ago that ISIS activity recorded during the first half of this year indicates a doubling of the number of attacks compared to last year. link
************
Tishwash: Finance and World Bank meet to conclude "fruitful" agreements that support Iraq's development path
An important meeting was held at the Ministry of Finance headquarters today, Monday, between the Minister of Finance, Taif Sami Mohammed, and a delegation from the World Bank, headed by the Regional Director of the Middle East Department, Jean-Christophe Carré, to discuss ways to enhance cooperation in the field of economic and social development.
The ministry said in a statement received by "Mil", "The meeting's axes focused in particular on supporting transportation, railway and infrastructure projects related to the development road linking Iraq and Turkey towards the European continent, in addition to financing the Social Fund for Development programs."
She explained that "these projects seek to improve the quality of services for citizens, enhance economic growth, and provide new job opportunities. The expected benefits of these projects include developing the road and transportation network, in addition to supporting small and medium enterprises and reducing poverty and unemployment."
According to the statement, the two sides expressed their "optimism about the possibility of reaching fruitful cooperation agreements that would contribute to achieving sustainable development in Iraq."
From social media
Minister of Finance and World Bank discuss financing transportation and social development projects
Both sides expressed optimism about the possibility of reaching fruitful cooperation agreements that would contribute to achieving sustainable development in Iraq link
Mot: .. You Goooo Girl!!!!
Mot: Funny how this seems to Pop again and again ....
Read More
News DINARRECAPS8 News DINARRECAPS8
Billions Of Dinars” Were Disbursed To Political Parties From The 2024 Budget As “Financial Grants” (documents)
Policy 2024-07-27 | 4,756 views Alsumaria News-Politics Today, Saturday, independent MP Amir Al-Mamouri published documents proving that the Ministry of Finance disbursed billions of dinars as “financial grants” from the budget to political parties represented in the House of Representatives or participating in the elections.
Al-Mamouri said in a blog post on his Facebook account, followed by Al-Sumaria News, that,
“Did you know that financial grants are disbursed to political parties from the budget, as 18 billion dinars were disbursed, and disbursement continues in the 2024 budget with 5 billion dinars?”
Billions Of Dinars” Were Disbursed To Political Parties From The 2024 Budget As “Financial Grants” (documents)
Policy 2024-07-27 | 4,756 views Alsumaria News-Politics Today, Saturday, independent MP Amir Al-Mamouri published documents proving that the Ministry of Finance disbursed billions of dinars as “financial grants” from the budget to political parties represented in the House of Representatives or participating in the elections.
Al-Mamouri said in a blog post on his Facebook account, followed by Al-Sumaria News, that,
“Did you know that financial grants are disbursed to political parties from the budget, as 18 billion dinars were disbursed, and disbursement continues in the 2024 budget with 5 billion dinars?”
He added: "Some may be surprised by this book, which shows that there is funding for parties from the federal budget at a rate of 80% for those who have representation in the House of Representatives and 20% for parties participating in the elections."
He stressed, "We are working to abolish this issue, which contains many comments and unjustified spending," considering that
"this spending is imposed on the deprived people, not the party, and a distinction must be made between these parties, those who work, those who do not work, and those who steal public money and trespass on state property," wondering.
“Who evaluates these parties so that we can say they deserve the financial grant?”
Documents issued by the Ministry of Finance showed that there is funding of 4 billion dinars in the 2018 and 2019 budgets, while there is funding of 5 billion dinars for parties in the 2023 budget and the same in the current 2024 budget, making the total amount to 18 billion dinars.
https://www.alsumaria.tv/uploadImages/ExtImages/Images1/ExtImage-6331047-534752256.png
https://www.alsumaria.tv/uploadImages/ExtImages/Images1/ExtImage-3082588-690422400.png
Financial Inclusion Indicators
July 28, 2024 :diamonds: In order for this bank to create a database for financial inclusion indicators, which will be the basic foundation for measuring the percentage of financial inclusion in Iraq,
we are attaching to all electronic payment service providers a database for financial inclusion statistics for individuals and companies in an electronic form (Excel file) sent to your institutions’ e-mail. ..For more click here https://cbi.iq/static/uploads/up/file-172216018373657.pdf
[approximate, incomplete translation of https://cbi.iq/static/uploads/up/file-172216018373657.pdf]
the date: 7/14/2024
To/ All electronic payment service providers
M/ Financial inclusion indicators
In order for this bank to prepare a database for financial inclusion indicators,
which will be the basic foundation for measuring the percentage of financial inclusion in Iraq,
we attach to you a database dedicated to financial inclusion statistics for individuals and companies in electronic form (Excel file) to be sent to your institutions’ email, provided that it is provided to us in the form of three models. The first model is a cumulative
For previous years in addition to the first and second semesters, i.e. until the end of (2/30/2024), and the second model will be for the data of the first semester only, and the third models will be for the data of the second semester only, provided that we increase the Aggregate data and for the first and second semesters of this year, each separately, and for a maximum period of (51. Working days from the date of issuance of this circular.
We would also like to inform you that a training workshop will be held in the hall of the Central Bank of Iraq on (Thursday) corresponding to (7/18/2024) at (10) in the morning for a period of one day only for the purpose of training on how to enter data and receive questions from you.
We hope to provide two representatives specialized in financial inclusion indicators from your institutions to attend the workshop.
with respect.
- Electronic data form (Excel) https://cbi.iq/news/view/2629
Mahmoud Dagher: Iraq Needs A Sovereign Wealth Fund To Protect Its Economic Future
July 28, 2024 Last updated: July 28, 2024 Independent/-Veteran financial and banking expert Dr. Mahmoud Dagher confirmed that Iraq , despite being a rentier economy, does not yet possess a sovereign wealth fund that would enable it to enhance its economic growth and ensure its stability in the face of potential crises.
Dagher pointed out in a short video clip followed by Al-Mustaqla on Sunday that most countries that depend on depletable rentier resources and are exposed to price fluctuations have taken proactive steps by establishing sovereign wealth funds whose combined balances exceed more than ten trillion US dollars. Dagher:
Iraqiswastingitsresources withoutasovereign wealth fund- thefuture of our generations is in dangerDagher said:
“All countries with anexhaustible rentier resource, andwhich are witnessing fluctuations in the prices of these resources, havebegun to establishsovereign fundstoprotecttheireconomyandenhance theirgrowth, away from the general budget and government policy.
Thesefundsplay avital rolein achievingeconomic stabilityandhedgingcountries against global and localfinancial crises.” Dagher added that the
absenceof asovereign wealth fundin Iraq is a majorshortcomingin the country'seconomic policy, especiallyin light of theheavy relianceonoilas amain source of revenue. He explained that
establishing such a fund would enable Iraq to secure the future of its generations and avoid economic shocks that may result from falling oil prices or global economic crises.
Dagher called on the executive and legislative authority in Iraq to accelerate the establishment of a sovereign wealth fund. must He said:
“Iraq [must] follow the example of other countries that have establishedsovereign funds to fortify its economy and ensure its future.
Establishing asovereign fundwill be an importantstrategic steptoprotectthe Iraqieconomyand secure the future of future generations.” Dagher pointed out that
sovereign fundsplay an important role in supportingsustainable economic policies, as
they provide thenecessary resourcesforlong-term investmentsaway from fluctuations in annual government revenues. He stressed that
benefiting frominternational experiences in this field could contribute significantly todesigningasovereign wealth fundthatmeets Iraq'sspecialneedsandenhancesitseconomic stability. https://mustaqila.com/صندوق-ثروة-سيادي/
Iraqi Investments Push The “Med Projects” Index To Rise
July 28, 2024 Last updated: July 28, 2024 Independent/-The “Med Projects”indexfor Gulf projectswitnessed an increase of 0.7% during the period fromJune 7 to July 12, driven mainly by an increase in the value of projects in the Iraqi market.
The Iraqi market achieved significant gains amounting to $26.3 billion, equivalent to an increase of 7%.
This rise is due to the reactivation of plans to establish a national network of high-speed railway lines throughout the country,
reflecting the trend towards improving infrastructure and transportation in Iraq.
In addition to Iraq, project markets in other Gulf countries witnessed remarkable growth, as the
value of the project market in the UAE increased by about $10.6 billion, or by 1.3%.
Despite this growth, the project market in Saudi Arabia witnessed a contraction of $13.9 billion, which is equivalent to a decrease of 0.7%, returning to the value level it was in mid-May.
In Qatar, the value of the projects market increased by $3.9 billion, or 1.7%, while the projects market in Bahrain added $2 billion, or 2.9%. In Oman, the market witnessed a slight increase of $0.2 billion, equivalent to 0.1%.
The total value of the Gulf projects index
The value of the projects index in theGulf Cooperation Councilcountries reached $3.447 trillion, recording an increase of 0.1% over the previous period.
The broaderGulf index, which includes Iraq and Iran, also rose by 0.7% to reach $4.138 trillion.
Thus, theindex continues to rise for the sixteenth consecutive month since March 2023, reflecting the continuing upward trend in the regional projects market.
Impact of railway projects
A key factor in the index's recovery is renewed ambitions forrail projectsin the region.
These projectsare not only a way to improve infrastructure and facilitate transportation, but
theyalso promote economic development and provide new job opportunities.
https://mustaqila.com/استثمارات-العراق-تدفع-مؤشر-ميد-بروجكت/
For current and reliable Iraqi news please visit:https://www.bondladyscorner.com/
Read More
Chats and Rumors, Economics Dinar Recaps 20 Chats and Rumors, Economics Dinar Recaps 20
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 29 July 2024
Compiled Mon. 29 July 2024 12:01 am ESTby Judy Byington
Global Currency Reset: (Opinions/Rumors)
Sun. 28 July 2024 Wolverine: “It’s going to be an incredible week. It’s going to be an incredible week. Just have faith. It’s coming. Always believe. Never give up. It’s still coming this week. Venezuela is going to be free. It’s been living under a corrupt government.
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 29 July 2024
Compiled Mon. 29 July 2024 12:01 am ESTby Judy Byington
Global Currency Reset: (Opinions/Rumors)
Sun. 28 July 2024 Wolverine: “It’s going to be an incredible week. It’s going to be an incredible week. Just have faith. It’s coming. Always believe. Never give up. It’s still coming this week. Venezuela is going to be free. It’s been living under a corrupt government. Even the Military has sold their souls because of money. Now they are united and going to be free.” … “I will be leaving and will not be putting out any more posts on Telegram. Can’t tell you what I’m doing but it’s very important. Please brace yourself and thank God for everything. You will not hear from me anymore. God bless you all.”
Thurs. 25 July 2024 Wolverine: “The gates are opened! Certain platforms have been released, at least 4 to 5 of them in Brazil. Venezuela has released their own. Next week a huge platform will be released as well. Also hearing Asia to be released, now with liquid funds. Precatorious are pure liquid now and is releasing funds to the members. Bondholders are getting paid, and more people are getting notified.”
Sat. 27 July 2024 Mike Bara: The word I have is that Thursday night 25 July 2024, the US Treasury told Iraq that if they didn’t revalue their currency per the agreements “immediately,” UST would force the issue. Iraq responded that they were holding up because of concerns about some smaller banks that they suspected were doing business with the Iranians. They are determined that no RV funds make their way to Iran, because the two countries are historic enemies. UST responded by seizing the 5 banks, consolidating them into a single, manageable entity, and pushing the RV through. Today, Sat. 27 July 2024 the Central Bank of Iraq made the announcement regarding this transaction. As far as I know, this is the last hurdle to the revaluation.
Fri. 26 July 2024: Six planes loaded with owners of Trust Accounts took off from Washington DC on Thurs. headed to Reno Nevada. Another Trust Account Holder flew into Reno from Zurich.
Thurs. 25 July 2024 MarkZ: “Rumor implies that Bond Holders may have been paid. The currency side should go within 48 hours.”
Tues. 23 July 2024 The Re-inhabited Republic for These United States of America (allegedly) was funded out of funds of the Global Currency Reset.
Fri. 26 July BRICS Officially Announced the New Financial System: https://watcher.guru/news/brics-officially-announces-financial-system-similar-to-swift
~~~~~~~~~~
Global Financial Crisis:
Sun. 28 July 2024 It’s Over: Saudi Arabia Just Broke the US Dollar:
https://beforeitsnews.com/alternative/2024/07/its-over-saudi-arabia-just-broke-the-us-dollar-3817999.html
Read full post here: https://dinarchronicles.com/2024/07/29/restored-republic-via-a-gcr-update-as-of-july-29-2024/
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Article: "15 trillion dinars raises controversy in the budget" PARLIAMENT TRIED TO ADD 15 TRILLION DINARS TO THE BUDGET SO THEY CAN STEAL IT... BUT SUDANI STOPPED IT!
Sandy Ingram Iraq did not follow Kuwait's revalue path. The Untied States pulled back on financial support for Iraq's revalue shortly after the invasion was over when they made the decision that were not in alignment with economic growth for Iraq. It's been 20 years and the currency still has not been revalued...We are learning more about why including issues like the IMF will not support a currency adjustment until the county has more income streams outside the oil industry, implementing banking reform that ties into international banking standards and providing housing for the hundred of thousands of people who have been misplaced due to decades of war, not to mention...corruption.
BREAKING NEWS; Results of US Iraq Summit Meeting This Week in Washington D.C.
Edu Matrix: 7-29-2024
BREAKING NEWS: The results of the US Iraq Summit Meeting This Week in Washington, D.C., The #iqd rate is up against the USD. Important Security Meeting results.
Breaking SWIFT: The Rise of mBridge in Global Financial Transactions.
Gopolitical Trends: 7-28-2024
In recent years, the global financial landscape has been transforming, particularly in the realm of cross-border payments. Geopolitics, especially the use of the SWIFT system for enforcing economic sanctions, is a key driver behind this shift.
SWIFT, a secure messaging network used by banks for financial transactions, has become a tool for geopolitical maneuvering.
Countries wary of potential sanctions are seeking alternatives, leading to the emergence of platforms like mBridge. Launched in mid-2024, mBridge is a collaborative CBDC project involving BIS and the central banks of China, Hong Kong, Thailand, and the UAE.
It aims to provide a more efficient and cost-effective alternative to SWIFT by using digital currencies for direct and near-instantaneous cross-border transactions.
This initiative reflects a strategic realignment in global financial infrastructure, enhancing financial resilience and economic sovereignty.
Read More
Militiaman, News Dinar Recaps 20 Militiaman, News Dinar Recaps 20
IQD Update - Iraq Dinar News Update - Oil & Gas - Until Now - No More Delay
MilitiaMan and Crew: 7-29-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
IQD Update - Iraq Dinar News Update - Oil & Gas - Until Now - No More Delay
MilitiaMan and Crew: 7-29-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Read More
Economics, Gold and Silver, News DINARRECAPS8 Economics, Gold and Silver, News DINARRECAPS8
Good Morning Dinar Recaps,
Financial Stability Implications of Emerging Market CURRENCY DEVELOPMENTS
"A global soft landing remains the base case, as the July World Economic Outlook update showed. The forecast for economic growth in emerging markets has changed little, with projections edging up to 4.3 percent for both this year and next. Inflation in most major emerging markets is forecast to ease further and reach target ranges, allowing monetary policy to ease in the foreseeable future."
"And yet, emerging market currencies have declined by about 4 percent year-to-date, on net, against the US dollar, even after partially recovering in recent weeks. Latin American currencies have dropped 5 percent, while currencies in Asian emerging markets are lower by 4 percent.
Central and Eastern European and African currencies saw milder depreciations. It’s important to assess whether further declines could have adverse consequences for financial stability."
Good Morning Dinar Recaps,
Financial Stability Implications of Emerging Market CURRENCY DEVELOPMENTS
"A global soft landing remains the base case, as the July World Economic Outlook update showed. The forecast for economic growth in emerging markets has changed little, with projections edging up to 4.3 percent for both this year and next. Inflation in most major emerging markets is forecast to ease further and reach target ranges, allowing monetary policy to ease in the foreseeable future."
"And yet, emerging market currencies have declined by about 4 percent year-to-date, on net, against the US dollar, even after partially recovering in recent weeks. Latin American currencies have dropped 5 percent, while currencies in Asian emerging markets are lower by 4 percent.
Central and Eastern European and African currencies saw milder depreciations. It’s important to assess whether further declines could have adverse consequences for financial stability."
"A key determinant of exchange rates is the difference in interest rates between a given country and the United States—the benchmark in global capital markets.
At the beginning of this year, investors expected the Federal Reserve to cut interest rates significantly, which would widen or at least maintain the interest differentials with emerging markets.
With the US economy proving stronger than previously anticipated and inflation not yet reaching the Fed’s target, expectations for US interest rate cuts dissipated over the course of the year,and the US dollar appreciated. As a result, major emerging markets’ interest rate differentials vis-à-vis the US narrowed. "CURRENCIES AND FINANCIAL STABILITY
"Orderly depreciation of a currency toward levels broadly in line with economic fundamentals—including interest rate differentials—can be constructive for an economy.
More troubling are cases where there are abrupt selloffs, which can trigger financial instability. Sudden foreign capital outflows can severely affect asset prices and open up funding gaps. Financial institutions could see foreign exchange mismatches intensify and may be unable to rollover foreign currency (particularly US dollar) funding at reasonable costs"
@ Newshounds News™
Read more:IMF
~~~~~~~~~
US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
LOS ANGELES (AP) —The nation’s housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices.
Sales of previously occupied U.S. homes fell 5.4% last month from May to a seasonally adjusted annual rate of 3.89 million, the fourth consecutive month of declines, the National Association of Realtors said Tuesday. Existing home sales were also down 5.4% compared with June of last year. The latest sales came in below the 3.99 million annual pace economists were expecting, according to FactSet.
Despite the pullback in sales, home prices climbed compared with a year earlier for the 12th month in a row. The national median sales price rose 4.1% from a year earlier to $426,900, an all-time high with records going back to 1999.
Home prices rose even as sales slowed and the supply of properties on the market climbed to its highest level since May 2020.
That translates to a 4.1-month supply at the current sales pace. Traditionally, a 4- to 5-month supply is considered a balanced market between buyers and sellers.
While still below pre-pandemic levels, the recent increase in homes for sale suggests that, despite record-high home prices, the housing market may be tipping in favor of homebuyers.
@ Newshounds News™ Read more:
~~~~~~~~~
Ripple Celebrates BRAZILIAN REAL STABLECOIN Integration On XRP LEDGER
"RippleX, the development arm of Ripple, has formally announced the integration of the BRLA Token, a stablecoin pegged to the Brazilian Real (BRL), on the XRP Ledger.This event signifies a crucial advancement for the XRP Ledger and its ecosystem, offering a new layer of stability and efficiency for cross-border and domestic transactions."
"“Designed to facilitate seamless and cost-effective transactions, BRLA Token offers businesses a reliable avenue for both domestic and international payments.The team has been exploring and testing the XRP Ledger extensively for payment processing,with much more excitement on the horizon,” RippleX stated in a blog post."
"BRLA Digital, spearheading this innovation, aims to disrupt the traditional financial sector in Brazil. Their creation, the BRLA Token, is crafted to simplify and economize business transactions, both internationally and within the country."
"RippleX’s enthusiasm about this collaboration is evident. In a statement shared on X (formerly Twitter), they remarked, “BRLA Digital’s commitment to evolving Brazil’s financial scene comes to fruition with the BRLA Token.This venture into stablecoins signifies a pivotal stride towards redefining business transactions in Brazil.”
"By anchoring the BRLA Token’s value to the Brazilian Real and backing it with audited reserves, we ensure a stable and reliable medium for transactions, shielding businesses from the whims of cryptocurrency volatility,”explains Ripple.This stability is crucial for businesses seeking consistency in their financial operations."
@ Newshounds News™
Read more:Bitcoinist
~~~~~~~~~
Judge Torres Considers Final Judgment in RIPPLE vs. SEC CASE
"Judge Analisa Torres is currently focusing on issuing a final ruling regarding penalties and injunctions in the Ripple vs. SEC lawsuit. Both parties can still appeal earlier decisions, adding layers of complexity to the legal proceedings. As the case draws closer to a verdict, the XRP community and legal experts are fervently anticipating a resolution, likely by August."
"The possibility of appeals looms large in this high-profile legal battle. Ripple has claimed several victories, making the SEC’s position appear increasingly tenuous. Legal analysts like Mickle suggest that despite these wins for Ripple, appeals are still on the table. Experts such as Fred Rispoli and James Murphy speculate that Judge Torres might expedite her final ruling, bypassing motions currently before Judge Sarah Netburn, potentially delivering a judgment as early as August."
@ Newshounds News™
Read More:CoinTag
~~~~~~~~~
ISO 20022 - The new language of payments
What is ISO 20022?
ISO 20022 is a flexible standard for financial messages that enables interoperability between financial institutions, market infrastructures and the Banks’ customers. All banks must be ready to support the new language/standard to continue processing payments and customers should also prepare for changes.
The ISO 20022 standard supports the inclusion of richer, better structured transaction data in payments messages, and aims to deliver a better customer experience by enabling less manual intervention, more accurate compliance processes, higher resilience, and improved fraud prevention measures.
Benefits and timeline
What are the benefits of ISO 20022?
ISO 20022 adoption will provide benefits to the entire payments ecosystem i.e. Banks, Market infrastructures and to the Banks customers:
▪️Rich structured party data and increased field size will provide greater levels of transparency and create efficiencies by reducing delays caused due to unstructured, incomplete, or inconsistent data.
▪️ By adopting dedicated returns and investigation messages and using standardized return codes, the current delays in applying returned funds back to the customers and responding to inquiries from other Banks will be drastically reduced.
▪️ By maintaining dedicated reference fields that remain unaltered in the end to end payment journey and introducing structured remittance data, customer’s reconciliation capabilities will be augmented.
▪️ Greater message harmonisation across the entire payments industry, with a universal message type for all payments will help integrate with many more schemes on a faster basis.
What are the timelines for migrating to ISO 20022 standards in different markets?
ISO 20022 adoption will take place over multiple years. Payment Market infrastructures (PMIs) of all major currencies are either live or in the process of adopting ISO 20022 by November 2025 for cross border payments. SWIFT has published a roadmap to migrate the existing message type 1,2,& 9 series which began in March 2023. Adoption plans are still evolving in each market and further clarity will be provided over time.
Adoption by major Real Time Gross Settlement (RTGS) market infrastructures/currency is currently planned as follows:
Impact, adoption and strategy
Which SWIFT messages are impacted by the ISO migration?
SWIFT plans to migrate all Customer and Inter-bank payments, as well as related advice and statement messages (the MT1xx, MT2xx and MT9xx series of messages).
What is HSBC’s plan to adopt ISO 20022?
HSBC is actively involved with SWIFT and the different market infrastructures that are migrating towards ISO. HSBC has successfully enabled its global network to receive and forward SWIFT CBPR+ messages in all of its 50+ locations and to exchange ISO messages in the newly migrated domestic markets.
We will align ourselves with the market requirements and delivery timelines set by different market infrastructures and ensure we are well placed to comply with the adoption strategies set forth by the market infrastructure.
What is HSBC’s strategy to align to SWIFT’s adoption of ISO for cross border payments?
HSBC’s adoption strategy will be driven by two different approaches:
--Markets with domestic migration announced
ISO enablement of SWIFT cross-border payments is prioritised with domestic ISO migrations in HSBC markets. This is targeted to enable ISO for both domestic and cross-border payments together for customers to choose to adopt in one go.
--Markets with no domestic migration announced
The approach is to complete SWIFT cross border traffic migration in all countries and be compliant by November 2025. If a market infrastructure announces a domestic scheme migration before 2025, our current migration strategies are flexible enough to adapt accordingly.
What are the common adoption strategies?
The common adoption strategies are:
▪️ ‘Like for like’, where the message format will be replaced from MT to ISO 20022 XML format that has comparable elements and character lengths to the existing SWIFT MT messages.
▪️ ‘Full/enhanced ISO’, where additional and enhanced existing elements are available. In order to ensure consistent usage and inter-operability, guidelines are defined by the industry.
Market practice guidelines
What are the current market practice guidelines being followed by the industry for ISO adoption?
Two guidelines are available for the payment market infrastructures:
▪️ High Value Payments Plus (HVPS+) market practice guidelines followed by certain Market infrastructures
▪️ Cross Border Payments and Reporting plus (CBPR+) guidelines. The CBPR+ group are experts nominated from the SWIFT community tasked with developing usage guidelines for ISO implementation by Banks for SWIFT cross-border payments.
While HVPS+ and CBPR+ are almost fully aligned with a few minor differences, HSBC will provide updates to the possible impacts they may have on our customers in the respective markets.
HOW TO PREPARE FOR ISO 20022
Readiness Handbooks
We have created readiness handbooks to support our customers through the transition to ISO 20022, highlighting the significant changes this will bring across the payments industry, how and why these changes will happen, and the benefits they can bring.
What should banks* be considering?
* Also includes NBFIs sending instruction via SWIFT
As published in SWIFT’s connectivity guidance document it is mandatory that all Banks are required to upgrade their messaging interface to support InterAct (store-and-forward) by 20 March 2023.
Institutions can also define the channel and format preferences for the transactions they receive through SWIFTs Transaction Manager (TM) platform. SWIFTs TM platform will ensure interoperability between users of different data formats and connectivity channels.
Here are some further considerations that banks should be looking at:
Industry Testing:Get ready to participate in industry testing as mandated by market infrastructures and SWIFT. If you use another bank for clearing, please reach out to that bank
Process & Systems:Have processes and systems geared up to fulfil your Sanctions and AML controls based on new party fields in the chain
Archive Data: Ensure that you are able to archive the rich ISO payments data as per your country regulations
Data Availability:Create solutions to make enriched data available to your customers
Structured Data:Start preparing to provide structured Name and address information for your customers(Debtors)
Training:Training and awareness of internal staff on the new language
For banks* sending Payments to:
▪️Clearing/SWIFT
--Clearing: Be ready to accept and align with the clearing market infrastructure based on their timelines
--your Currency Provider
▪️Have conversations with your Currency Provider
▪️ Agree the roadmap/migration timelines and expectations on message formats
For banks* receiving Payments from:
▪️Clearing/SWIFT
--Clearing:Be ready to accept and align with the clearing market infrastructure based on their timelines
--your Currency Provider
If you use non-SWIFT based channels have a discussion with your provider
* Also includes NBFIs sending instruction via SWIFT
What should Corporate customers be preparing for?
We recommend our Corporate customers understand the potential of XML for your business and make the most of the opportunity.
Here are some considerations for Corporate customers:
▪️Preparing for the future:A few market infrastructures already mandate corporates to provide XML as a standard while communicating to their Banks. With the increased adoption of ISO 20022 as a standard by SWIFT and major market infrastructures worldwide it is possible that more market infrastructures may recommend ISO as a messaging standard for communicating. Considering this in your technology plans will support preparation for these requirements from market infrastructures in the future.
▪️Structured Data requirements:Market infrastructures and Clearing schemes have introduced new data requirements for party information. These include fields like creditor, ultimate debtor, initiating party, and ultimate creditor that will require corporates to provide to the bank in a structured or hybrid manner. HSBC will soon be providing communications on the required changes.
We strongly recommend you start looking at the data that is provided to HSBC and work closely with your Enterprise Resource Planning (ERP) and Treasury Management System (TMS) providers to start making required updates to comply to the new industry requirements.
▪️Capitalising on rich standards:ISO offers multiple benefits that will help streamline end to end processing. Early adoption will allow you to capitalise on the information that is supported in remittance information and enhanced end to end references, which will be available through ISO based cash management(camt) statements/advises.
What you can expect from us
HSBC is eager to work with our clients to assist in their migration to ISO 20022. HSBC has been a strong advocate for XML and a key driver in the evolution of the ISO 20022 XML standard. Customers will be able to leverage the experience we have gained from previous implementations.
As market infrastructures finalize specifications, our team of experts will reach out to you and provide the details of changes to our existing offerings, and information on any new value added services that we will be able to offer leveraging the richer data elements that ISO 20022 offers.
Listen to our latest podcast – ISO 20022: The new language of payments
PODCAST
ISO 20022 will enable richer and more detailed data to be included in payment messages, along with a host of other benefits, resulting in a better customer experience. In this episode, Mark Avery, Senior Product Manager, HSBC, and Umut Uysal, Senior Global Product Manager, HSBC, discuss what you need to know about this exciting innovation in banking.
@ Newshounds News™
Read more:CBM HSBC
~~~~~~~~~
Newshound'sDaily Breakdown PodcastLink
Newshound'sNews Telegram RoomLink
Q & A ClassroomLink
Follow theRoadmap
Follow theTimeline
Seeds of Wisdom Team™Website
Subscribe toNewsletter
Thank youDinar Recaps
Read More
Economics, News Dinar Recaps 20 Economics, News Dinar Recaps 20
BRICS Officially Announces Financial System Similar to SWIFT| What's Next?
We love Africa: 7-28-2024
Gone are the days when Brics had to secretly carry out its plan of de-dollarization and launching a new currency and a financial system.
Until now, Brics never confessed to developing a financial system that will replace SWIFT. However, secrecy is no longer the plan of action. Brics and its members have now openly announced that they are launching a financial system similar to SWIFT, a Western-controlled banking system.
BRICS Officially Announces Financial System Similar to SWIFT| What's Next?
We love Africa: 7-28-2024
Gone are the days when Brics had to secretly carry out its plan of de-dollarization and launching a new currency and a financial system.
Until now, Brics never confessed to developing a financial system that will replace SWIFT. However, secrecy is no longer the plan of action. Brics and its members have now openly announced that they are launching a financial system similar to SWIFT, a Western-controlled banking system.
The BRICS alliance is looking to bypass the Western SWIFT system and replace it with its own financial mechanism. The creation of a new financial messaging system similar to SWIFT will allow BRICS to reshape the global trade landscape.
The majority of cross-border transactions are now settled using SWIFT and cutting ties with the system provides leverage to the nine-member alliance.
BRICS can create a new payment system without incorporating the US dollar for transactions. Local currencies will be used for trade settlements ending reliance on the US dollar once and for all.
The BRICS payment system similar to SWIFT can break the global dominance of the US dollar. Russia confirmed that the BRICS alliance plans to build a new payment system similar to SWIFT. “The financial agenda of BRICS has a main initiative for building a new economic reality that solves both major tasks.
Creating our own financial messaging system for the BRICS countries, similar to SWIFT, based on state-owned banks capable of clearing settlements of counterparties from the BRICS countries and the related role of the same bank,” said Deputy Chairman of the Russian State Duma Alexander Babakov.
The ambassador said that creating an alternative to SWIFT is necessary for BRICS to push the de-dollarization agenda ahead. “It is necessary to create a new system of financial institutions.
The new system must be technically compatible with the existing financial infrastructures of the participating countries, which includes integration with national payment systems, banks, and other financial institutions.
At the same time, the system must ensure a high level of security and data protection to prevent cyber-attacks and unauthorized access to financial information,” he summed it up.
Read More
KTFA, News Dinar Recaps 20 KTFA, News Dinar Recaps 20
KTFA: Clare: Financial inclusion indicators
July 28, 2024
In order for this bank to prepare a database for financial inclusion indicators, which will be the basic foundation for measuring the percentage of financial inclusion in Iraq, we attach to all electronic payment service providers a database for financial inclusion statistics for individuals and companies in an electronic form (Excel file) that will be sent to your institutions’ email.For more, click here.
https://cbi.iq/news/view/2629
KTFA:
Clare: Financial inclusion indicators
July 28, 2024
In order for this bank to prepare a database for financial inclusion indicators, which will be the basic foundation for measuring the percentage of financial inclusion in Iraq, we attach to all electronic payment service providers a database for financial inclusion statistics for individuals and companies in an electronic form (Excel file) that will be sent to your institutions’ email.For more, click here.
Clare: Kurdistan government brings good news to employees under Article 140
7/28/2024
The Kurdistan Regional Government announced on Sunday its intention to distribute plots of land to employees under Article 140.
The Department of Media and Information said in a statement received by Shafaq News Agency, "In implementation of the decision of the Prime Minister of the Region, the distribution of plots of land to employees will begin within Article 140 of the Constitution in the Kurdish regions outside the administration of the region."
The regional government had previously announced the distribution of land to all employees, as it began the land survey process. LINK
************
Clare: The Kurdish government resolved crises with “wisdom”.. A former member of the Kurdistan Parliament: Baghdad has no excuse left
7/28/2024 Erbil
Former member of the Kurdistan Regional Parliament, Rebwar Babaki, confirmed today, Sunday (July 28, 2024), that the current regional government headed by Masrour Barzani was able to resolve the crises.
Babaki said in an interview with “Baghdad Today” that “the wise policy of the current regional government enabled it to resolve the complex disputes with Baghdad, especially in the field of salaries and budget.”
He added, "The financial crisis and delayed salary payments were resolved wisely and diplomatically, even though some Iraqi political parties wanted to put obstacles to ending the dispute and wanted the crisis to continue."
Babaki pointed out that "the regional government did not leave any excuse for Baghdad, and therefore the salary crisis was resolved with wisdom and patience, and other crises were dismantled."
On Thursday (May 30, 2024), the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, visited the capital, Baghdad, to hold discussions with Prime Minister Muhammad Shia al-Sudani and a number of senior officials in the federal government, in In addition to meetings with leaders and leaders of political forces.
According to a statement issued by the regional government, Masrour Barzani's meetings during his visit dealt with the latest developments on the political and security arenas in Iraq, and the emphasis on resolving the outstanding issues between the Kurdistan region and the federal government, especially securing the Salaries of the citizens of the Kurdistan region and guaranteeing their financial rights and entitlements.
According to the statement, the discussions also dealt with enhancing cooperation and joint coordination, to ensure security and stability for Iraq and the Kurdistan region.
In this regard, Masrour Barzani wrote on the “X-Twitter” platform, “Today I am in Baghdad to affirm the rights of the people of Kurdistan and resolve differences through dialogue and on the basis of the constitution,” adding that “stability and A strong economy should be our priorities.” LINK
************
Clare: He is 19 years old and the most important of 150 suspended laws.. Will the powers give up the "golden paper" in oil and gas legislation?
7/28/2024 Politics
The Parliamentary Oil and Gas Committee expressed, today, Sunday, its "optimism" about the imminent approval of the Oil and Gas Law, which has been suspended for 19 years, noting that its delay came because it is a political pressure card used throughout the past years in forming successive governments.
Committee member Nazim Al-Shabli told Sumaria News that the oil and gas law is the most important suspended law, noting that it was “used as a political pressure card in forming governments.”
However, Al-Shabli expected that “the most serious government in this file is the Al-Sudani government,” noting that “clear committees have been formed betweenBaghdadand theKurdistan Regional Government, but until now the government has not sent the final version to the House of Representatives or the Oil Committee.”
Al-Shabli expressed the hope of the Oil Committee that "the relevant committees will resolve the issue and send it to Parliament, as the law has benefits in regulating oil exports and stopping smuggling or selling oil outsideSOMO," believing that "this issue will be resolved in the coming days."
He stressed that "the delay in the law came because it is a political card, especially since the region wants the law and considers it to be in its interest, in addition to the fact that it has old obligations and contracts with foreign companies, in addition to the continuation of smuggling."
About a year has passed since the formation of the committee to draft the oil and gas law, after a 19-year delay in the law that regulates the relationship betweenBaghdadandErbilregarding the management of oil inKurdistanand the rest of the provinces," while the law is considered one of the most important laws that have been suspended for years, amounting to more than 150 laws. LINK
Clare: The Ministry of Commerce discusses with World Bank representatives a strategy to support entrepreneurship and establish local companies.
7/28/2024
The Private Sector Development Department at the Ministry of Trade held a meeting (remotely) with representatives of the World Bank to discuss a strategy to support entrepreneurship, owners of small and medium enterprises and start-ups to advance the local economic reality.
The ministry stated in a statement that "the meeting discussed the basic pillars of the entrepreneurship system that will be evaluated by World Bank experts through surveys and the application of laws specific to these projects, in addition to holding discussion sessions with project owners and presenting recommendations on policies for each pillar."
The statement explained that "the meeting came out with several recommendations aimed at developing the Iraqi private sector to advance the local economic reality," referring to "the pioneering role of the Private Sector Development Department in providing support to owners of small and medium enterprises, which is part of its tasks."
On the other hand, the Investment Committee of the General Company for Central Markets at the Ministry of Trade held its periodic meeting to discuss its investment projects plan, and the circulars received by the company related to investment projects in Baghdad and the governorates, including the recommendations of the Ministerial Council for Social Services regarding the Iraqi Construction Council, as well as the mechanism for compensating contractors.
The statement added that "the meeting urged the follow-up committees to complete the tasks assigned to them and prepare reports and correspondence to the relevant sectoral authorities to ensure the speedy completion and opening of these projects and set a time frame for their completion and submit periodic reports on the completed work." LINK
************
Clare: Renewing its commitment to the truce... Al-Kataeb: A mysterious faction targeting Americans in Iraq
7/28/2024
The Sayyid al-Shuhada Brigades, one of the factions that form the "Islamic Resistance in Iraq", said on Sunday that it does not know who is carrying out the targeting of the American forces stationed at the Ain al-Assad base in Anbar Governorate, and the forces stationed in the Syrian bases.
A prominent leader in the brigades told Shafaq News Agency, "The Islamic Resistance Group in Iraq, as well as the Resistance Coordination Committee, do not know which party or group is bombing and targeting the American forces, disclaiming responsibility for those operations."
The leader, who asked not to be named, added that the "Sayyid al-Shuhada Brigades" are committed to the calm so far, and perhaps there is a faction working on these operations individually as a means of pressure, but without knowledge from that party.
Iraqi Prime Minister Mohammed Shia al-Sudani is seeking to pressure pro-Iranian armed factions to stop their escalation against American interests and targets in Iraq, according to informed sources.
Fearing American reactions that might escalate and confuse the security situation inside Iraq, Al-Sudani contacted Iranian figures in order to pressure those factions to stop escalating their operations, and to give him a new opportunity to end the American presence in Iraq through dialogue and negotiation, but the factions still reject these pressures, according to the sources. LINK
Read More
News DINARRECAPS8 News DINARRECAPS8
Paralyzed For 19 Years.. Parliamentary Optimism About Passing The Most Important Laws In Iraq
Energy Economy News – Baghdad The Parliamentary Oil and Gas Committee expressed its "optimism" on Sunday about the imminent approval of the Oil and Gas Law, which has been suspended for 19 years, noting that its delay was due to it being a political pressure card used throughout the past years in forming successive governments.
Committee member Nazim Al-Shabli said, “The oil and gas law is the most important of the suspended laws,” noting that “it was being exploited as a political pressure card in forming governments.”
But Al-Shabli expected that "the most serious government in this file is Al-Sudani's government," noting that "clear committees were formed between Baghdad and the Kurdistan Regional Government, but until now the government has not sent the final version to the House of Representatives or the Oil Committee."
Paralyzed For 19 Years.. Parliamentary Optimism About Passing The Most Important Laws In Iraq
Energy Economy News – Baghdad The Parliamentary Oil and Gas Committee expressed its "optimism" on Sunday about the imminent approval of the Oil and Gas Law, which has been suspended for 19 years, noting that its delay was due to it being a political pressure card used throughout the past years in forming successive governments.
Committee member Nazim Al-Shabli said, “The oil and gas law is the most important of the suspended laws,” noting that “it was being exploited as a political pressure card in forming governments.”
But Al-Shabli expected that "the most serious government in this file is Al-Sudani's government," noting that "clear committees were formed between Baghdad and the Kurdistan Regional Government, but until now the government has not sent the final version to the House of Representatives or the Oil Committee."
Al-Shabli expressed the Oil Committee’s hope that “the relevant committees will resolve the issue and send it to Parliament, given the benefits of the law in regulating oil exports and stopping smuggling or selling oil outside SOMO,” believing that “this issue will be resolved in the coming days.”
He stressed that "the delay of the law came because it is a political card, especially since the region wants the law and considers it to be in its interest, in addition to the fact that it has old obligations and contracts with foreign companies, in addition to the continuation of smuggling."
About a year has passed since the formation of the committee to draft the oil and gas law, after a 19-year delay in the law that regulates the relationship between Baghdad and Erbil with regard to the management of oil in Kurdistan and the rest of the provinces.
The law is considered one of the most important laws that have been suspended for years, amounting to more than 150 laws.
196 views 07/28/2024 - https://economy-news.net/content.php?id=45672
The Ministry Of Commerce Discusses With World Bank Representatives A Strategy To Support Entrepreneurship And Establish Local Companies.
Sunday 28 July 2024 11:17 | Economic Number of readings: 257 Baghdad / NINA / The Private Sector Development Department at the Ministry of Trade held a meeting (remotely) with representatives of the World Bank to discuss a strategy to support entrepreneurship, owners of small and medium enterprises and start-ups to advance the local economic reality.
The ministry stated in a statement that "the meeting discussed the basic pillars of the entrepreneurship system that will be evaluated by World Bank experts through surveys and the application of laws specific to these projects, in addition to holding discussion sessions with project owners and presenting recommendations on policies for each pillar."
The statement explained that "the meeting came out with several recommendations aimed at developing the Iraqi private sector to advance the local economic reality," referring to "the pioneering role of the Private Sector Development Department in providing support to owners of small and medium enterprises, which is part of its tasks."
On the other hand, the Investment Committee of the General Company for Central Markets at the Ministry of Trade held its periodic meeting to discuss its investment projects plan, and the circulars received by the company related to investment projects in Baghdad and the governorates, including the recommendations of the Ministerial Council for Social Services regarding the Iraqi Construction Council, as well as the mechanism for compensating contractors.
The statement added that "the meeting urged the follow-up committees to complete the tasks assigned to them and prepare reports and correspondence to the relevant sectoral authorities to ensure the speedy completion and opening of these projects and set a time frame for their completion and submit periodic reports on the completed work." https://ninanews.com/Website/News/Details?key=1143928
The Stock Market Index Rose By 0.35%
Market Economy News – Baghdad The stock market index rose on Sunday, in the first session of the week, by 0.35%. During the session, 3.6 billion shares were traded, worth 1.9 billion dinars.
The value of shares of 13 companies increased, while the shares of 4 other companies decreased.
The session witnessed the execution of 591 transactions on the shares of 32 traded companies.
Views 13 07/28/2024 - https://economy-news.net/content.php?id=45691
Jump In The Central Bank Of Iraq's Dollar Sales
Time: 2024/07/28 15:22:10 Reading: 650 times {Economic: Al Furat News} The Central Bank of Iraq’s sales of the US dollar increased to more than $274 million in today’s currency auction, Sunday, compared to sales last Thursday.
The Central Bank sold in its auction today 274 million, 868 thousand, and 286 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits, international settlements for electronic cards, and foreign transfers, and at a rate of 1305 dinars per dollar in cash.
Most of the dollar sales went to boost balances abroad in the form of remittances and credits, which amounted to $267,368,286, up 97% from cash sales of $7,500,000.
The number of banks that purchased cash dollars was 2 banks, while the number of banks that met requests to enhance balances abroad was 17 banks, and the total number of exchange and brokerage companies participating in the auction was 5 companies. LINK
Iraqi Oil Exports Exceed 102 Million Barrels In A Month
Economy | 07/28/2024 Mawazine News – Baghdad The Iraqi Ministry of Oil announced, on Sunday, the total oil exports for last June, according to the final statistics issued by the State Oil Marketing Organization (SOMO).
The ministry stated in a statement received by Mawazine News that "the total quantity of crude oil exports amounted to 102 million, 314 thousand, and 548 barrels."
The statistics stated that the quantities exported from the oil fields in central and southern Iraq amounted to 102 million, 11 thousand, and 928 barrels, while exports to Jordan amounted to 302 thousand, 620 barrels. https://www.mawazin.net/Details.aspx?jimare=252204
US Dollar Exchange Rate Drops In Baghdad
Economy | 04:42 - 07/28/2024 Mawazine News – Baghdad The US dollar prices fell in the markets of the capital, Baghdad, at the close, on Sunday evening.
The dollar price decreased with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 149,300 dinars for every 100 dollars, while this morning it recorded 149,550 dinars for every 100 dollars.
The selling prices in exchange shops in local markets in Baghdad were: the selling price was 150,250 Iraqi dinars for 100 dollars, while the purchase price was 148,250 dinars for 100 dollars.
https://www.mawazin.net/Details.aspx?jimare=252214
For current and reliable Iraqi news please visit:https://www.bondladyscorner.com/
Read More
Chats and Rumors, Economics Dinar Recaps 20 Chats and Rumors, Economics Dinar Recaps 20
TNT: Tishwash: Parliamentary Committee Expects Oil and Gas Law to Be Approved Soon: Delayed Because It Is a Political Pressure Card
The Parliamentary Oil and Gas Committee expressed its “optimism” on Sunday about the imminent approval of the Oil and Gas Law, which has been suspended for 19 years, noting that its delay was due to it being a political pressure card used throughout the past years in forming successive governments.
Committee member Nazim Al-Shabli said, “The oil and gas law is the most important of the suspended laws,” noting that “it was being exploited as a political pressure card in forming governments.”
TNT:
Tishwash: Parliamentary Committee Expects Oil and Gas Law to Be Approved Soon: Delayed Because It Is a Political Pressure Card
The Parliamentary Oil and Gas Committee expressed its “optimism” on Sunday about the imminent approval of the Oil and Gas Law, which has been suspended for 19 years, noting that its delay was due to it being a political pressure card used throughout the past years in forming successive governments.
Committee member Nazim Al-Shabli said, “The oil and gas law is the most important of the suspended laws,” noting that “it was being exploited as a political pressure card in forming governments.”
But Al-Shabli expected that “the most serious government in this file is Al-Sudani’s government,” noting that “clear committees have been formed between Baghdad and the Kurdistan Regional Government, but so far the government has not sent the final version to the House of Representatives or the Oil Committee.”
Al-Shabli expressed the Oil Committee’s hope that “the relevant committees will resolve the issue and send it to Parliament, given the benefits of the law in regulating oil exports and stopping smuggling or selling oil outside SOMO,” believing that “this issue will be resolved in the coming days.”
He stressed that "the delay of the law came because it is a political card, especially since the region wants the law and considers it to be in its interest, in addition to the fact that it has old obligations and contracts with foreign companies, in addition to the continuation of smuggling."
About a year has passed since the formation of the committee to draft the oil and gas law, after a 19-year delay in the law that regulates the relationship between Baghdad and Erbil with regard to the management of oil in Kurdistan and the rest of the provinces,” while the law is considered one of the most important laws that have been suspended for years, amounting to more than 150 laws. link
************
Tishwash: Iraq stores gold and expects it to rise in the next two months
Economic expert, Abdul Rahman Al-Shaikhli, expects Iraq’s gold reserves to rise over the next two months.
Al-Mashhadani told {Euphrates News} that: "Owning gold is considered part of the investment portfolio that countries seek, and Iraq has been storing gold and increasing its reserves for many years, especially with expectations of its rise during the next two months, and this means that the rise in gold prices is continuing and is part of the countries' investments."
He explained that "maintaining dollar reserves or investing in treasury bonds does not achieve profits commensurate with the size of the profits achieved from the increase in gold prices, although Iraq increased its reserves by two and a half tons of gold."
Al-Mashhadani pointed out that "these are not large numbers that enhance citizen confidence and diversify investments, and this is the policy of a group of countries and banks, not just Iraq."
Data from the International Monetary Fund showed an increase in gold reserves in Iraq and Qatar.
The data indicated that Iraq increased its gold holdings by 2,644 tons to 148,305 tons in May 2024.
The data showed that Qatar raised its gold stock by 3,112 tons to 106,423 tons in June 2024, according to Reuters. link
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Jeff Iraq is talking out of both sides of their mouth. From one side they're saying, nope we have no intention of revaluing. On the other side they're saying, heck yeah we have full intentions of revaluing...
Mnt Goat ...the Project to Delete the Zeros and the Dr Shabibi plan... was developed by the CBI and the IMF...It is a sound plan and they told they will execute it “when the conditions are right”...the three zero notes are not being obsoleted after the deadline in Iraq is over to turn them in...These notes will be used for “interbanking of international transactions” ...where large sums of cash must be transferred...The CBI told us this many times in articles...the CBI did tell us there will “probably” be at least a 10 year use of these notes by the banks for this purpose. Yes, eventually these notes will become obsoleted but we will be way out of this and exchanged by then.
The Fed Loses $100 Billion A Year; What Happens When Central Bank Goes 'Bankrupt'? | Steve Hanke
David Lin: 7-28-2024
Steve Hanke, Professor of Applied Economics, analyzes the latest inflation data, and discusses the Fed's financials, and banks' operational risks.
0:00 - Intro
1:20 - U.S.inflation
5:10 - Fed's actual loss
8:51 - Global inflation
17:46 - "America is going bankrupt"
43:00 - Banks' operational risks
Hungary Dumps G7 Banks For Record China Loan, Beijing Subsidy Tsunami To Crush EU Punishments
Sean Foo: 7-28-2024
In a shocking move, Hungary quietly takes a record billion Euro loan instead of using a G7 bank.
China is more than happy to issue the money, allowing them to effectively use their trade surplus to fund both economic and geopolitical objectives.
Meanwhile, the EU is afraid of Chinese companies building EVs in Europe itself, powered by government subsidies.
Timestamps & Chapters:
0:00 G7 Banks Dumped For China Loan
2:40 China Is Buying Supply Chains
5:42 Panic Over China EV Factories In Europe
8:41 China Unleashes Domestic Subsidy
11:40 This Is A Global Subsidy War
Read More