Goldilocks' Comments and Global Economic News Tuesday Evening 5-7-24
Goldilocks' Comments and Global Economic News Tuesday Evening 5-7-24
Good Evening Dinar Recaps,
For the last three and a half years, we have been talking about the new digital economy. We have talked about legislative bills and infrastructure Networks being built to support the new digital banking system.
Currently, we are witnessing several legislative bills moving through Congress today. And, we are witnessing regulations this month formulate new guidelines for this new digital economy.
Earlier this year, we witnessed Protocol 20 begin the process of expansion of networks connecting to each other inside Quantum Technological Protocols.
Payment systems will begin emerging onto the scene as each of these new tokenized assets is currently in the regulation process along with discussions in Congress to push them forward.
At this point, credit valuation adjustments will begin to occur inside the new digital asset-based trading system. The time for price discovery through the movement of supply and demand is about to make itself known.
© Goldilocks
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Goldilocks' Comments and Global Economic News Tuesday Evening 5-7-24
Good Evening Dinar Recaps,
For the last three and a half years, we have been talking about the new digital economy. We have talked about legislative bills and infrastructure Networks being built to support the new digital banking system.
Currently, we are witnessing several legislative bills moving through Congress today. And, we are witnessing regulations this month formulate new guidelines for this new digital economy.
Earlier this year, we witnessed Protocol 20 begin the process of expansion of networks connecting to each other inside Quantum Technological Protocols.
Payment systems will begin emerging onto the scene as each of these new tokenized assets is currently in the regulation process along with discussions in Congress to push them forward.
At this point, credit valuation adjustments will begin to occur inside the new digital asset-based trading system. The time for price discovery through the movement of supply and demand is about to make itself known.
© Goldilocks
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HEARING
Hearing Entitled: SEC Enforcement: Balancing Deterrence with Due Process | Youtube
Tuesday, May 7, 2024 10:00 AM in 2128 Rayburn House Office Building
Capital Markets Subcommittee
Click here to view the Committee Memorandum.
Click here to view the LIVESTREAM of this hearing.
Witnesses
Mr. Andrew Vollmer, Senior Affiliated Scholar at the Mercatus Center and former SEC Deputy General Counsel
Mr. Nick Morgan, President and Founder, Investor Choice Advocates Network
Professor Paul Eckert, Professor of the Practice of Law, College of William & Mary Law School
Mr. John Reed Stark, President, John Reed Stark Consulting Legislation
H.R. 6695, the "Due Process Restoration Act of 2023, to authorize private parties to compel the Securities and Exchange Commission to seek sanctions by filing civil actions, and for other purposes"
H.R. ____, to clarify what constitutes a violation of the federal securities laws for purposes of determining penalty amounts
H.R. ____, to clarify the Securities and Exchange Act of 1934 with respect to civil money penalties and the authority to seek disgorgement
H.R. ____, to repeal the policy of the Securities and Exchange Commission set forth in 17 C.F.R. § 202.5(e)
H.R. ____, to clarify that, like with actions brought under the Securities Exchange Act of 1934, certain actions filed under the Securities Act of 1933 are required to be heard in federal court
H.R. ____ to codify the process to obtain waivers from certain disqualifications under the federal securities laws
H.J.Res. ____ , providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Reporting of Securities Loans”
H.J.Res. ____, providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Short Position and Short Activity Reporting by Institutional Investment Managers”
H.J.Res. ____, providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Further Definition of ‘As a Part of a Regular Business’ in the Definition of Dealer and Government Securities Dealer in Connection With Certain Liquidity Providers”
H J Res. ____ , providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Form PF; Reporting Requirements for All Filers and Large Hedge Fund Advisers”
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Take a look at this long list of legislative bills that are getting ready to be run through Congress today.
Each in some way deals with all the legislative bills we've been talking about on this channel regarding large hedge funds accounts, Exchange Act procedures, and more.
© Goldilocks
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Central banks must revise business model, embrace CBDCs — ECB member | CoinTelegraph
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RAISE-1 AI Robot Demos 49 Axes Humanoid Using This New Tech (“AGI-BOT” ANDROID, EL BRAIN) | Youtube
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The following keeps you from having to open multiple accounts up to the $250,000 limit FDIC insures.
Here is a way to protect your accounts beyond the normal FDIC caps of coverage.
Look at the following site and see what you think…LINK
If you look at their “participating banks” list, all the major players are there - WF, BofA, Chase, etc...
You can break down a list of participating banks in your state.
Your bank may just already have this available to you, check your state and bank.
Again, you don't know what you don't know.
Building relationships is key when managing wealth.
Always be in learning mode to new opportunities when talking to those in this arena. IntraFi
*Hint - Listen, Check, Validate and Act.
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{Economic: Al-Furat News} The Ministry of Commerce announced the holding of the meetings of the third session of the Trade and Investment Framework Agreement between Iraq and the United States of America in Washington, D.C., after a break of more than nine years, headed by the Iraqi side, the economic agent Ghassan Farhan Hamid, and from the American side, the Office of Trade Representation.
The Economic Agent for Trade said in a statement to the Ministry that received a copy of it {Euphrat News} that “the meeting discussed many axes, the most important of which are the agricultural sector, standardization, qualitative control, financial system, customs, company registration, intellectual property rights, Iraq’s accession to the World Trade Organization, the health sector and government contracts.”
He pointed out “the confirmation during the meetings that the Iraqi government is open to all parties and that economic reform and diversifying the economy are among the priorities to be worked on, and that Iraq is ready to discuss any proposal that leads to strengthening relations between the two countries.” Search4Dinar
WATCH THE WATER
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Why Are Central Banks Buying So Much #Gold? | Youtube
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Learn about the Federal Reserve Bank of New York's gold vault | NewYorkFed
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Stellar Development Foundation Q1 2024 Report: Initiatives and Achievements Propel Growth | Crypto News
By Zoran Spirkovski
As 2024 unfolds, the Stellar Development Foundation (SDF) has released a comprehensive report detailing its accomplishments in the first quarter. The period was marked by significant milestones, including the launch of smart contracts on the network and a remarkable growth in asset value, reflecting Stellar’s increasing influence in the blockchain sector.
The year began with Stellar implementing smart contracts through its new platform, Soroban. This move is poised to revolutionize Stellar’s ecosystem by enhancing functionality and developer engagement. Moreover, the total value of real-world assets held on Stellar reached an impressive $533 million, underpinned by a substantial $1.6 billion in total payments volume processed this quarter. Stellar continues to offer extremely low transaction costs, averaging $0.000065, maintaining its position as a leader in cost efficiency.
Smart Contracts on Stellar: The Soroban Era
Soroban represents a significant leap forward for Stellar, providing a robust, Rust-based environment tailored for developing scalable and sensible smart contracts. This platform not only advances Stellar’s technological framework but also significantly expands its utility and appeal to developers.
The surge to $533 million in assets highlights Stellar’s growing role in financial services, especially through the tokenization of assets. This process enhances liquidity and market efficiency, presenting new opportunities for investment and asset management within the financial sector.
SDF’s efforts have been pivotal in enhancing financial inclusion, with a particular focus on facilitating access to financial services globally. The forthcoming Meridian 2024 conference, scheduled for October 15-17 in London, is set to celebrate these achievements and unveil future initiatives.
In its quest for global expansion and improved security, SDF has been actively engaging with the global community and strengthening its technological stack. A notable initiative is the Soroban Audit Bank (https://stellar.org/blog/developers/the-soroban-audit-bank-fostering-a-secure-smart-contract-ecosystem), which supports security audits for projects on Stellar, ensuring that Stellar remains a secure and reliable platform for all users.
Why It Matters: Stellar’s Strategic Vision
Stellar’s strategic initiatives are shaping a financial landscape that is more inclusive, efficient, and secure. The deployment of smart contracts and the expansion of asset tokenization are just examples of how Stellar is unlocking the potential of blockchain technology to foster a more connected and accessible financial world.
In conclusion, Stellar Development Foundation’s first quarter of 2024 has set a robust pace for the year. With smart contracts live and assets growing, Stellar is poised to further its mission of transforming the global financial landscape, making it more inclusive and efficient through blockchain technology.
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Iraq Economic News and Points to Ponder Tuesday Evening 5-7-24
Iraq Economic News and Points to Ponder Tuesday Evening 5-7-24
Why Does Iraq Depend On Foreign Banks For Dollar Transfers?
Economy |Today, 18:12 |Baghdad today – Baghdad Today, Tuesday (May 7, 2024), expert in financial and economic affairs, Nabil Jabbar Al-Tamimi, revealed the reason for Iraq’s reliance on foreign banks for financial transfers, especially with regard to the dollar.
Al-Tamimi told “Baghdad Today” that “Iraq has more than (70) banks, approximately five of which are government and the remaining number are private banks,
but Iraq relies heavily on financial transfers, especially with regard to the dollar, to various foreign banks, due to the failure of... Iraqi private banks in arranging their legal and technical conditions regarding the issue of financial correspondence.
He stated, “After implementing the electronic platform, many banks stopped making remittances, as they did not want to comply, but foreign banks were not afraid of this matter because they had experience and all of their work was sound and in accordance with the required conditions, and that is why they became dependent on those banks, and this confirms the existence of a major defect.” In the work of Iraqi banks.
Iraq Economic News and Points to Ponder Tuesday Evening 5-7-24
Why Does Iraq Depend On Foreign Banks For Dollar Transfers?
Economy |Today, 18:12 |Baghdad today – Baghdad Today, Tuesday (May 7, 2024), expert in financial and economic affairs, Nabil Jabbar Al-Tamimi, revealed the reason for Iraq’s reliance on foreign banks for financial transfers, especially with regard to the dollar.
Al-Tamimi told “Baghdad Today” that “Iraq has more than (70) banks, approximately five of which are government and the remaining number are private banks,
but Iraq relies heavily on financial transfers, especially with regard to the dollar, to various foreign banks, due to the failure of... Iraqi private banks in arranging their legal and technical conditions regarding the issue of financial correspondence.
He stated, “After implementing the electronic platform, many banks stopped making remittances, as they did not want to comply, but foreign banks were not afraid of this matter because they had experience and all of their work was sound and in accordance with the required conditions, and that is why they became dependent on those banks, and this confirms the existence of a major defect.” In the work of Iraqi banks.
Earlier, a member of the Parliamentary Integrity Committee, Alia Nassif, revealed that the
Iraqi Jordanian National Bank obtained $3.6 billion from the currency auction during the first three months of the current year, which enabled it to obtain a profit of about 40 billion dinars.
https://baghdadtoday.news/248830-لماذا-يعتمد-العراق-على-المصارف-الاجنبية-بحوالات-الدولار؟.html
Using The National Currency In Commercial Transactions With Iran.. An Expert Comments On Iraq’s Losses
Economy | Baghdad today – Baghdad Today, Tuesday (May 7, 2024), expert in financial and economic affairs, Alaa Glob Al-Fahd, commented on the possibility of Iraq losing money through its use of the national currency in commercial transactions with Iran. Al-Fahd told Baghdad Al-Youm,
“The idea of commercial dealings being in the local currency between Iraq and Iran is not new today.
Rather, it is a decision by the Central Bank of Iraq as well as the Iraqi government to negotiate this issue with more than one country, not just Iran, including Iran.” The UAE". He explained that
“exchange is in the UAE dirham, with China in the yuan, with Iran in the toman, and even with Turkey there is negotiation that trade exchange be in the lira.”
He continued, "This matter creates confidence in the local currency, when it has value at the global level and this follows the strength of the Iraqi dinar, and this issue does not constitute any loss for Iraq and Iran."
He added, "This currency will be transformed into goods or exchanged and bartered, if there is a joint trade exchange between the two countries.
We believe that this issue has many more positives than negatives, and
this gives strength to the local currency and gives it confidence even at the level of the citizen and merchant as well as the foreign merchant and not Local only."
Yesterday, Monday, Iranian Vice President Mohammad Mokhber called on Iraq to use “national currencies” in trade and economic exchanges between the two countries.
The office of the Iranian Vice President said in a statement followed by "Baghdad Today",
"The necessity of expanding economic relations and improving the level of trade cooperation between the Islamic Republic of Iran and Iraq was emphasized." He added,
"The relations between Tehran and Baghdad are close, strong and sincere, and the union of the two countries is a source of loss and fear for enemies and a point of hope and prosperity.
They are two countries and their people will taste the sweet taste of this union in expanding economic relations between them."
In The Document... The Central Bank Decides To Return The “Al-Mal” Bank To Work... In This Case
Monday 06, May 2024 14:08 | Economical Number of readings: 268
https://ninanews.com/Uploads/Images/2024/5/1124993-2b765dda-9687-4a11-a971-bf5e0005596a.jpg
Baghdad / NINA / The Central Bank of Iraq decided to return the Money Bank to work, while preventing it from dealing in the US dollar in any way. / https://ninanews.com/Website/News/Details?key=1124993
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
Provoking Thoughts and Points to Ponder on Wealth
It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God. - Matthew
I am rich beyond the dreams of avarice. - Edward Moore
All wealth is the product of labor - John Locke
Get place and wealth, if possible, with grace; If not, by any means get wealth and place. - Alexander Pope
Riches certainly make themselves wings. - Proverbs
He that maketh haste to be rich shall not be innocent. - Proverbs
He heapeth up riches, and knoweth not who shall gather them. - Bible
No good man ever became suddenly rich. - Syrus
Iraq Economic News and Points to Ponder Tuesday Afternoon 5-7-24
Iraq Economic News and Points to Ponder Tuesday Afternoon 5-7-24
The Dinar Is Breathing Through The Eye Of A Needle And The Dollar Is At 145,500
Economy | 05:40 - 05/07/2024 Mawazine News – Baghdad The exchange rates of the US dollar witnessed a decline this evening, Tuesday, in the capital, Baghdad, while it stabilized in Erbil, the capital of the Kurdistan Region, with the stock market closed.
Dollar prices fell with the closure of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 145,450 dinars per 100 dollars, while prices had recorded this morning 145,550 dinars per 100 dollars.
Regarding the selling prices in the exchange shops in the local markets in Baghdad, they stabilized, as the selling price reached 146,500 dinars per 100 dollars, and the purchasing price reached 144,500 dinars.
Iraq Economic News and Points to Ponder Tuesday Afternoon 5-7-24
The Dinar Is Breathing Through The Eye Of A Needle And The Dollar Is At 145,500
Economy | 05:40 - 05/07/2024 Mawazine News – Baghdad The exchange rates of the US dollar witnessed a decline this evening, Tuesday, in the capital, Baghdad, while it stabilized in Erbil, the capital of the Kurdistan Region, with the stock market closed.
Dollar prices fell with the closure of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 145,450 dinars per 100 dollars, while prices had recorded this morning 145,550 dinars per 100 dollars.
Regarding the selling prices in the exchange shops in the local markets in Baghdad, they stabilized, as the selling price reached 146,500 dinars per 100 dollars, and the purchasing price reached 144,500 dinars. https://www.mawazin.net/Details.aspx?jimare=247504
Al-Rafidain Explains The Importance Of Adopting A Comprehensive Banking System
Economy News – Baghdad On Tuesday, Rafidain Bank explained the importance of adopting a comprehensive banking system, while stressing the work on adopting two advanced systems in the field of combating money laundering and terrorist financing.
The bank’s general manager, Ali Karim Hussein, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that “since we took over the management of the bank, Rafidain Bank has begun activating the comprehensive banking system in its branches spread across government institutions and border crossings where the collection system is large.” ".
He explained, "The comprehensive banking system will simplify the procedures for opening accounts as well as transfer operations, so that the customer will be able to manage his account without accessing the bank."
He pointed out that "there are many reforms, including the adoption of the AML and GOAML systems, which are among the internationally required systems, specializing in the field of combating money laundering and terrorist financing, in addition to the adoption of electronic systems in which the human hand does not interfere, as they are the ones who prepare the lists and conduct the scanning process electronically and not Manually,
and as a result, it will guarantee the credibility of Rafidain Bank, as well as the banking sector in general, towards international institutions by adhering to the requirements and legislation for combating money laundering and terrorist financing.”
The Director General of Al-Rafidain Bank stated, “The bank’s previous work, due to the lack of an electronic network linking the bank’s branches, the customers were businessmen, merchants, and simple citizens, who could not carry out any banking operation within a short time, but at the present time the system has been transformed electronically,
so the customer can go For any of our branches spread across Baghdad and the governorates that has a comprehensive banking system, he enters his account, and all his data will be available with the employee, which will make it easier for the customer to conduct banking operations, whether by withdrawal or deposit.” 05/07/2024 - https://economy-news.net/content.php?id=43211
Sudanese Advisor: The Oil Sector Is Witnessing A Rapid Renaissance
Money and business Economy News – Baghdad Today, Tuesday, the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, explained the positive effects resulting from the export boom of natural gas derivatives, while indicating that the oil sector is witnessing an accelerated development renaissance.
Saleh said, in a statement followed by Al-Iqtisad News, that “models of economic progress depend on export resources in order to advance the reality of development,” indicating that “work to diversify the economy is through diversifying exported raw material products within high value-added chains that reflect positively on Current account of the balance of payments.
He added, "The export launch of a specific type of natural gas derivatives and the development in this direction have two important effects, including the optimal exploitation of some aspects of natural gas resources that have been wasted by burning, especially the gas associated with oil production, in addition to the gradual reduction and compensation for the costs of gas currently imported for specific purposes and used."
As a fuel for operating electrical power plants that rely on natural gas derivatives itself.”
He pointed out that "the oil sector today is witnessing a rapid developmental renaissance, whether in diversifying products from crude oil, associated gas or natural gas, and generating high flexibility in allocating the country's financial resources, whether towards replacing imports of oil and gas products or promoting exports of them according to calculations of the balance between costs and benefits."
From the import and export activities of various types of oil and gas derivatives,” noting that it is “the optimal balance rule that will be in the interest of the national economy, especially maximizing the country’s financial revenues.” 05/07/2024 https://economy-news.net/content.php?id=43203
Al-Sudani Receives A Delegation From The Union Of Arab Banks
Economy | 05/07/2024 Mawazine News – Baghdad Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani received a delegation from the Union of Arab Banks.
The Prime Minister’s Media Office said in a statement, “Today, Prime Minister Muhammad Shiaa Al-Sudani received a delegation from the Union of Arab Banks.” https://www.mawazin.net/Details.aspx?jimare=247473
Iraq And The United States Of America Hold Trade Meetings In Washington
Tuesday 07, May 2024 12:42 | Economical Number of readings: 329
Baghdad / NINA / The Ministry of Commerce announced, today, Tuesday, the holding of meetings of the third session of the Trade and Investment Framework Agreement between Iraq and the United States of America in Washington, D.C., after a break that lasted more than nine years.
The ministry stated in a statement, "The meeting was chaired on the Iraqi side by the Economic Undersecretary of the Ministry and included the Director General of the Department of Foreign Economic Relations and the Commercial Attaché and representatives from the Ministries of Finance, Planning, Agriculture and Health, and on the American side the Commercial Representation Office."
The statement indicated, “The meeting discussed many topics, the most important of which are the agricultural sector, standardization and quality control, the financial system, customs, company registration, intellectual property rights, Iraq’s accession to the World Trade Organization, the health sector, and government contracts.”
He added, “It was confirmed during the meetings that the Iraqi government is open to All parties said that economic reform and diversification of the economy are considered among the priorities that are being worked on, and that Iraq is ready to discuss any proposal that leads to strengthening relations between the two countries.
For its part, the American side expressed its great interest in the topics at hand and its appreciation for the reform measures undertaken by the Iraqi government. https://ninanews.com/Website/News/Details?key=1125155
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
Provoking Thoughts and Points to Ponder on Wealth
The ideal social state is not that in which each gets an equal amount of wealth, but in which each gets in proportion to his contribution to the general stock. - Henry George
I'll fares the land, to hastening ills a prey, Where wealth accumulates, and men decay; Princes and Lords may flourish, or may fade - A breath can make them, as a breath has made - But a bold peasantry, their country's pride, When once destroy'd can never be supplied. - Oliver Goldsmith
Riches either serve or govern the possessor. - Horace
The wealth of nations is men, not silk and cotton and gold. - Richard Hovey
Life is short. The sooner that a man begins to enjoy his wealth the better. - Samuel Johnson
Our Lord commonly giveth Riches to such gross asses, to whom he affordeth nothing else that is good.- Martin Luther
Goldilocks' Comments and Global Economic News Tuesday AM 5-7-24
Goldilocks' Comments and Global Economic News Tuesday AM 5-7-24
Good Morning Dinar Recaps,
FDIC TRUST RULE CHANGES: As of April 1st, 2024, the maximum amount of insurance coverage for a trust fund owner with five or more beneficiaries is $1,250,000 per owner.
This is for all trust accounts including "payable on death" and "in trust for" trust accounts. Revocable, and irrevocable trusts held at the same bank are also included.
Trust fund holders can name as many beneficiaries as desired, but the coverage limit will not exceed $1,250,000 as of April 1st, 2024.
This new coverage change applies to existing and new trust accounts. It includes all deposit products including CDs regardless of purchase or maturity date. FDIC © Goldilocks
👆 Goldilocks pointed to this article
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Goldilocks' Comments and Global Economic News Tuesday AM 5-7-24
Good Morning Dinar Recaps,
FDIC TRUST RULE CHANGES: As of April 1st, 2024, the maximum amount of insurance coverage for a trust fund owner with five or more beneficiaries is $1,250,000 per owner.
This is for all trust accounts including "payable on death" and "in trust for" trust accounts. Revocable, and irrevocable trusts held at the same bank are also included.
Trust fund holders can name as many beneficiaries as desired, but the coverage limit will not exceed $1,250,000 as of April 1st, 2024.
This new coverage change applies to existing and new trust accounts. It includes all deposit products including CDs regardless of purchase or maturity date. FDIC
© Goldilocks
👆 Goldilocks pointed to this article
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Judge Torres' final ruling in Ripple Vs SEC could come this year, most probably in September. | CoinGape
Ripple and the SEC are most likely to appeal lost motions and rulings in the XRP lawsuit.
Settlement can come any time from now to appellate court filings.
XRP price could start rallying backed by bull market sentiment.
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Shafaq News/ Iran and Iraq are poised to sign 23 cooperation agreements on energy, transportation, trade, investments, and banking, the head of Iran's investment organization, Ali Fekri said on Sunday.
These agreements are expected to be finalized during the ongoing sixth meeting of the Iran-Iraq Joint Coordination Committee for Economic Cooperation in Tehran.
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IQD Updates & Journalism Crisis Turkey's President | Youtube
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You Won’t Believe What Nostradamus Predicted For 2024! | Youtube
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It is important to note that all of these changes happening in the banking system as it pertains to our foreign currency exchange.
For the last 20 years, many of these changes have not surfaced until now.
More changes are coming.
Stay awake.
© Goldilocks
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Swiss National Bank Says Wholesale CBDC Eliminates Barriers in Financial Markets | PYMNTS
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Ripple to Launch USD-Backed Stablecoin in June? CTO David Schwartz Hints | Crypto News
👆 Goldilocks pointed to this article
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To handle the challenges of an increasingly complex global landscape, affluent individuals and families are seeking more than just traditional investment advice from their wealth managers. What they truly want are trusted partners who can guide them through all aspects of their financial journey, encompassing their private wealth, business and everyday banking needs—both at home and abroad. | Forbes
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KTFA Members “News and Views” Tuesday 5-7-2024
KTFA:
Clare: The Specifications Department of the Central Organization for Standardization and Quality Control obtains a quality certificate in accordance with the international standard
5/7/2024
The Ministry of Planning announced today, Tuesday, that the Central Organization for Standardization and Quality Control has obtained a quality certificate in accordance with the International Organization for Standardization ISO 9001:2015 specification.
The Ministry stated in a statement: “The Specifications Department of the Standardization Department in the agency obtained this certificate, which is the first administrative formation in the Ministry to obtain a quality certificate from an entity that has been accredited by the Iraqi Accreditation Authority and the British Accreditation Authority (UKAS), which has received international recognition from the Forum.”
International Accreditation Agency (IAF), indicating that this certificate is internationally recognized and added: “The Standardization Department seeks to provide the best services to citizens by increasing the effectiveness and efficiency of its internal operations in issuing and approving Iraqi standard specifications and guidelines.
She pointed out: “Iraq has joined the World Trade Organization
KTFA:
Clare: The Specifications Department of the Central Organization for Standardization and Quality Control obtains a quality certificate in accordance with the international standard
5/7/2024
The Ministry of Planning announced today, Tuesday, that the Central Organization for Standardization and Quality Control has obtained a quality certificate in accordance with the International Organization for Standardization ISO 9001:2015 specification.
The Ministry stated in a statement: “The Specifications Department of the Standardization Department in the agency obtained this certificate, which is the first administrative formation in the Ministry to obtain a quality certificate from an entity that has been accredited by the Iraqi Accreditation Authority and the British Accreditation Authority (UKAS), which has received international recognition from the Forum.”
International Accreditation Agency (IAF), indicating that this certificate is internationally recognized and added: “The Standardization Department seeks to provide the best services to citizens by increasing the effectiveness and efficiency of its internal operations in issuing and approving Iraqi standard specifications and guidelines.
She pointed out: “Iraq has joined the World Trade Organization by reducing technical obstacles to trade, the most important of which is following scientific and international methods in preparing specifications for products involved in trade. LINK
DMcCall: In my opinion I fond an online official WTO calendar of events. And this is exactly what is in the box for May 9 2024
ASCENSION DAY
(WTO non-working day)
So at least in my opinion May 9, 2024 announcements will be made to welcome the new FULL members.
Clare: A deputy in finance expects the Council of Ministers to approve the budget schedules in today’s session
Information / private..
On Tuesday, a member of the Parliamentary Finance Committee, Representative Moeen Al-Kadhimi, suggested that the Council of Ministers would approve the amendments to the 2024 budget schedules during its regular session today, indicating that if approved, they will be sent to Parliament tomorrow, Wednesday.
Al-Kadhimi told Al-Maalouma, “The Council of Ministers is supposed to approve the 2024 budget tables during its regular session,” suggesting that “the Council of Ministers will vote on the tables today, especially after the pressure put on the Council by Parliament, which considered delaying the approval unjustified.” .
He added, “If approved today, the schedules will be sent to the House of Representatives tomorrow, Wednesday, and therefore the Parliamentary Finance Committee will study the schedule and provide a briefing to Parliament for the purpose of approving it,” noting that “the House of Representatives will extend its legislative recess until the 2024 budget schedules are approved.”
almaalomah.me
DMcCall: In my opinion nothing will stop what has been announced! Iraq on May 9 ascends to FULL membership in the WTO which requires an international exchange rate! So can we stop talking about the budget? The budget WAITS FOR THE RATE!!!
CalandDLQ: If my memory serves me correctly, when the tripartite budget was approved they also voted and approved that the COM could amend the budget without needing parliament so IMO this is another example of smoke and mirrors. The articles over the last 24-36hr point to the reality of Sudani, Alak, Saleh and gov. are doing what they told us they were doing. These next 4-24hrs will be…well…popcorn anyone
************
Clare: Plasschaert's duties in Iraq end
5/7/2024
The duties of the head of the United Nations mission in Iraq, Jeanine Plasschaert, in Iraq have ended.
A statement of the Supreme Judicial Council, a copy of which was received by {Al-Furat News}, said, "The President of the Supreme Judicial Council, Judge Faiq Zaidan, received today, Tuesday, the Representative of the Secretary-General and Head of the United Nations Mission in Iraq, Jeanine Plasschaert, on the occasion of the end of her work duties in Iraq."
Jeanine Antoinette Hennis-Plasschaert is a Dutch politician and diplomat, and was appointed Special Representative of the Secretary-General for the United Nations Assistance Mission for Iraq on December 17, 2018. LINK
Alicia2015: IMO- interesting timing, wonder if she stacked dinars.
Clare: After a break of more than 9 years.. the resumption of a government trade meeting between Iraq and America
5/7/2024
The Ministry of Commerce announced the holding of meetings of the third session of the Trade and Investment Framework Agreement between Iraq and the United States of America in Washington, D.C., after a break that lasted for more than nine years. It was chaired on the Iraqi side by Economic Agent Ghassan Farhan Hamid, and on the American side by the Representative Office. Commercial.
The Economic Undersecretary for Trade confirmed in a statement to the ministry, a copy of which was received by {Al-Furat News}, that “the meeting discussed many topics, the most important of which are the agricultural sector, standardization and quality control, the financial system, customs, company registration, intellectual property rights, Iraq’s accession to the World Trade Organization, the health sector, and government contracts.”
He pointed out, "It was emphasized during the meetings that the Iraqi government is open to all parties and that economic reform and diversification of the economy are considered among the priorities that are being worked on, and that Iraq is ready to discuss any proposal that leads to strengthening relations between the two countries."
For its part, the American side expressed its great interest in the issues raised and its appreciation for the reform measures undertaken by the Iraqi government.
It is noteworthy that the meetings were also attended by the Iraqi side, Director General of the Department of Foreign Economic Relations, Riyad Fakher Al-Hashimi, the Commercial Attaché, and representatives from the Ministries of Finance, Planning, Agriculture and Health. LINK
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Clare: Al-Sudani: Iraqi banks are on the right track with financial transfers
5/7/2024
Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Tuesday, during his meeting with the delegation of the Union of Arab Banks, headed by the Secretary-General of the Union, Wissam Hassan Fattouh, that Iraqi banks are on the right path regarding financial transfers.
At the beginning of the meeting, according to a statement from his office received by Al-Furat News, Al-Sudani welcomed the holding of the Arab Banks Conference in Baghdad, expressing Iraq’s happiness in hosting the Arab conferences, which confirm Iraq’s return to taking its natural position in the region and the world.
The Prime Minister stressed that “the process of financial and economic reform, which was adopted by the government, cannot occur without a solid banking system that is in harmony with the world,” noting that the government has placed this matter within its work of development and reform since its first day, and that Iraqi banks are proceeding today on a The right path in its transactions regarding financial transfers, and that coordination of financial and monetary policy with the Central Bank continues, while preserving the independence of the bank.”
He pointed out that "the policy of clarity, which was adopted by the government, helped in identifying the deficiencies in the banking system and worked to fix them," noting that the Development Road Project is one of the aspects of economic integration in the region, as His Excellency welcomed the holding of a banking workshop to discuss the role of banks in the project and in establishing... Industrial cities on the path of the road.
For its part, the delegation of the Union of Banks praised the government’s measures to reform the banking sector. As they are clear measures aimed at strengthening and enhancing the work of this sector, the delegation also expressed its appreciation for the government’s steps in supporting the private sector and enhancing its role in sustainable development and international and regional partnerships. LINK
“Tidbits From TNT” Tuesday Morning 5-7-2024
TNT:
Tishwash: It is likely that the 2024 budget schedules will be approved today
The Iraqi government’s delay in approving the budget schedules has raised questions about the existence of a cash crisis in the country, which may soon be reflected in employees’ salaries.
The extent of fears was reinforced by the government's resort to citizens' pockets to fill the gap in the fiscal deficit after the recent decision to raise gasoline prices.
Yesterday, Monday, the Financial Advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed new details related to the budget lists and schedules for the year 2024, which are still under discussion in the Council of Ministers.
Saleh suggested, during a press statement, that the Council of Ministers, in today’s session on Tuesday, will discuss and approve the budget law schedules, and then send them to the House of Representatives as soon as possible.
TNT:
Tishwash: It is likely that the 2024 budget schedules will be approved today
The Iraqi government’s delay in approving the budget schedules has raised questions about the existence of a cash crisis in the country, which may soon be reflected in employees’ salaries.
The extent of fears was reinforced by the government's resort to citizens' pockets to fill the gap in the fiscal deficit after the recent decision to raise gasoline prices.
Yesterday, Monday, the Financial Advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed new details related to the budget lists and schedules for the year 2024, which are still under discussion in the Council of Ministers.
Saleh suggested, during a press statement, that the Council of Ministers, in today’s session on Tuesday, will discuss and approve the budget law schedules, and then send them to the House of Representatives as soon as possible.
The Sudanese advisor explained, “The percentage of the deficit in the budget tables is unknown, and it will be determined according to the tables that will be approved by the Council of Ministers, before sending them to the House of Representatives.”
According to what was stated in Law No. 13 of 2023, the lists and tables of the tripartite general budget law should be submitted to the House of Representatives. link
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Tishwash: Al-Sudani receives a delegation from the Union of Arab Banks
Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani received a delegation from the Union of Arab Banks.
The Prime Minister’s Media Office said in a statement, “Today, Prime Minister Muhammad Shiaa Al-Sudani received a delegation from the Union of Arab Banks.” link
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Tiswash: Politician: America will not leave Iraq, and diplomacy is breathing its last breath
Political analyst Maher Abdel Joudeh revealed on Monday that there is no American intention to leave Iraq and the Middle East, stressing the necessity of adopting diplomatic solutions.
Judeh said in a statement to the Al-Maalouma Agency, “The Sudanese visit did not contribute to resolving the issue of the Americans’ withdrawal from Iraq, and the hopes of the popular circles were in vain.”
He continued, "The diplomatic solution and economic pressure is the effective action capable of pushing American soldiers outside the borders and eliminating their presence," stressing that "Iraq does not need the presence of American forces because the Iraqi forces can protect the country from any terrorist threat."
It is noteworthy that the Iraqi government formed a specialized committee in order to manage the file of the Americans’ exit from Iraq, and it has continued to work according to political controls, but the American efforts to stay may seem stronger this time. link
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CandyKisses: Government move to install gold screening devices at 4 airports
Economy News - Baghdad
The Ministry of Planning clarified, on Tuesday, the mechanism for examining gold in the local markets, and while it indicated that many companies submitted their bids to equip airports with modern equipment, it confirmed that the devices will be in 4 airports.
Ministry spokesman Abdul Zahra al-Hindawi said: "There are procedures regarding the examination of gold at airports that have been implemented during the past months, represented by announcing the request for devices for inspection and the name of gold and non-gold precious jewelry."
"Many specialized companies have submitted and work is underway to select the appropriate bids, so that referral can be made to the concerned company to equip the centres with sensitive equipment," he said.
Al-Hindawi added that "the places and offices for the work of the teams of the Central Organization for Standardization and Quality Control have been identified at the airports of Baghdad, Najaf, Basra and Kirkuk," stressing that "work will begin as soon as we are equipped with devices for the examination and weight of gold jewelry."
With regard to the legal procedures followed against those who sell adulterated or manipulated gold, he explained that "the standardization and quality control teams continue to follow up on gold affairs by granting licenses to goldsmiths, as well as following up on gold in goldsmiths' shops through continuous inspection, as well as following up on licenses granted."
He continued: "If untagged gold jewelry is seized or unlicensed gold jewellery shops are seized, legal action will be taken against violators in this regard and referred to the courts."
He pointed out that "the legal procedures against violators are the withdrawal of the license, the closure of the shop and other severe legal procedures, but if the violation is minor, the jeweler may be alerted to that violation and the need to address it within a specific period of time, and in the event that he does not comply with the warning, legal proceedings will proceed against him."
Mot: ... Somewhere in Madrid, New Mexico
Mot: . Sounds Great to Me!!! --- HUH????
MilitiaMan: Iraq Dinar- IQD Update - Regional Trade - A Progession of Reforms - A Global Backing of Reforms-
Iraq Dinar- IQD Update - Regional Trade - A Progession of Reforms - A Global Backing of Reforms-
MilitiaMan and Crew: 5-6-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Dinar- IQD Update - Regional Trade - A Progession of Reforms - A Global Backing of Reforms-
MilitiaMan and Crew: 5-6-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Economic News and Points to Ponder Late Monday Evening 5-6-24
Iraq Economic News and Points to Ponder Late Monday Evening 5-6-24
“The Shocks Have Changed.” The Governor Of The Central Bank Explains The Impact Of The Openness Of Iraqi Banks On Their International Counterparts
Economy News – Baghdad On Monday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, highlighted the impact of the openness of Iraqi banks on their international counterparts, while noting that the global economy has begun to face a phase characterized by rising levels of public and private debt.
Al-Alaq, in his speech at the conference “The Challenges Facing Iraqi Banks in Complying with International Laws and Legislation and Meeting the Requirements of Correspondent Banks,” followed by “Al-Iqtisad News,” said, “Central banks have faced increasing challenges after decades of appearances and are closer to quiescence starting with the decline in interest rates.” and inflation,” pointing out that “the global economy has begun to face a phase characterized by rising levels of public and private debt.”
He added, "The nature of local, international and historical shocks has changed due to an increase or decrease in demand, with the exception of supply shocks, in addition to new challenges represented by financial stability in public financial policy and the financial control decision that requires reducing spending or increasing domestic revenues."
Iraq Economic News and Points to Ponder Late Monday Evening 5-6-24
“The Shocks Have Changed.” The Governor Of The Central Bank Explains The Impact Of The Openness Of Iraqi Banks On Their International Counterparts
Economy News – Baghdad On Monday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, highlighted the impact of the openness of Iraqi banks on their international counterparts, while noting that the global economy has begun to face a phase characterized by rising levels of public and private debt.
Al-Alaq, in his speech at the conference “The Challenges Facing Iraqi Banks in Complying with International Laws and Legislation and Meeting the Requirements of Correspondent Banks,” followed by “Al-Iqtisad News,” said, “Central banks have faced increasing challenges after decades of appearances and are closer to quiescence starting with the decline in interest rates.” and inflation,” pointing out that “the global economy has begun to face a phase characterized by rising levels of public and private debt.”
He added, "The nature of local, international and historical shocks has changed due to an increase or decrease in demand, with the exception of supply shocks, in addition to new challenges represented by financial stability in public financial policy and the financial control decision that requires reducing spending or increasing domestic revenues."
The Governor of the Central Bank explained, “Over the past years, the Iraqi banking sector has opened up to local financial institutions over their international counterparts, and to the extent that all of this achieves communication and attention with the outside world, it undoubtedly carries many challenges and impacts.”
Ali Al-Alaq continued: “We hope that this conference will succeed in reaching effective solutions to this challenge and devoting cooperation and coordination between Arab central banks, Arab expenditures and non-banking financial institutions to achieve stability and growth.”
The conference will succeed in reaching effective solutions to this challenge and devoting cooperation and coordination between Arab central banks. Arab expenditures and non-banking financial institutions to achieve stability and growth.” 05/06/2024 - https://economy-news.net/content.php?id=43178
The Union Of Arab Banks Proposes 4 “Important” Points For Iraqi Banks To Meet Compliance Standards
Economy News – Baghdad Today, Monday, the Secretary-General of the Union of Arab Banks, Wissam Al-Futouh, presented four proposals to confront Iraqi banks with compliance standards and stimulate their relationship with correspondent banks.
Al-Futuh said, in his speech during the conference “The Challenges Facing Arab Banks in Complying with State Laws and Legislation and Meeting the Requirements of Correspondent Banks,” that “the financial and banking challenges that Iraq has suffered recently are many, despite the efforts of the Central Bank of Iraq,” considering that “Iraqi banks deal With a complex network.
He added, "The Arab region is going through fateful dangers resulting from wars and other political conflicts, and this conflict would increase the risks of uncertainty in the prospects of the Middle East and North Africa, resulting in severe economic impacts on many Arab countries."
Al-Futuh proposed a set of points for Iraqi banks to meet compliance standards, stimulate their relationships with correspondent banks, and enhance confidence in Iraqi banks, including: “Iraqi banks must invest in strong infrastructure.”
He continued: The other thing is adopting advanced technology, which leads to changing the rules of the game in the field of compliance, as there are many programs that rely on artificial intelligence to help analyze data and comply.
As for the third matter, Al-Futuh focused on “the necessity of adopting the principle of transparency in banking operations and preparing financial reports, to build sustainable trust with the international community,” pointing out that “the last and most important matter is the preparation of a comprehensive national plan for capacity development, training and qualification, especially in the field of compliance with... During the establishment of a committee under the name of the National Committee for Capacity Development, Training and Qualification, which will be in cooperation between the Union of Arab Banks and the Association of Iraqi Private Banks, under the supervision of the Central Bank of Iraq.
He pointed out, “The tasks of this committee also include 4 important points. The first revolves around training and qualification of Arab cadres and capacity building on the subject of compliance, while the second revolves around providing advice and support and choosing a compliance program specific to each bank.”
The third point “represents the formation of a continuous force of influence to develop Iraqi banks’ relations with international bodies, especially the American ones.” The fourth point is “documenting policies and internal controls for banking compliance.”
Views 166 05/06/ https://economy-news.net/content.php?id=43180
The President Of The Association Of Private Banks Sends An “Important” Invitation To The Central Bank Regarding The Banking Sector
Economy News – Baghdad Today, Monday, the President of the Association of Iraqi Private Banks, Wadih Al-Handal, sent an invitation to the Central Bank of Iraq regarding the Iraqi banking sector, while addressing the deprivation of Iraqi banks from dealing in dollars.
Al-Handal said in his speech at the conference, “The challenges facing Iraqi banks in complying with international laws and legislation and meeting the requirements of correspondent banks,” followed by “Al-Iqtisad News,” “Our vision and work revolve around building a strong Iraqi banking sector, capable of facing challenges and contributing more to financing various projects.”
Its types, supporting the Iraqi economy, developing local and international partnerships, and promoting the concepts of financial inclusion in society.”
He added, "The Arab region is witnessing great challenges at all levels, including economic challenges and banking challenges in particular, including what happened in Iraq in terms of deprivation of dealing in the main international currency (the dollar), which is approximately half of the number of Iraqi banks, and which has had a significant and clear impact on banking services." inside Iraq).
The Director of the Association of Iraqi Private Banks explained: “I praise the efforts of the Iraqi government and the Central Bank of Iraq in resolving these problems with the American side, especially what resulted from the visit of Prime Minister Muhammad Shia Al-Sudani to Washington, and his meeting with a number of American figures.”
The outcomes that were determined include appointing a review committee and developing a road map for solutions.”
Al-Handal stated, “The Iraqi Private Banks Association is fully prepared to cooperate and support the plans of the government and the Central Bank of Iraq and contribute to improving the banking environment and developing the banking infrastructure in accordance with the best international practices.”
He called on the Iraqi government and the Central Bank to "work to strengthen the private banking sector, by supporting private banks in general and disadvantaged banks in particular to ensure the continuation of their work and open the horizons of banking work more broadly, whether inside Iraq or to help build strong relationships with international financial institutions."
286 views 05/06/2024 - https://economy-news.net/content.php?id=43179
Central Bank Governor: The Banking Sector Is Witnessing Major Qualitative Developments
Economy | 11:26 - 06/05/2024 Mawazine News – Baghdad Central Bank Governor Ali Al-Alaq announced on Monday that the banking sector is witnessing major qualitative developments, while calling for cooperation and coordination between Arab central banks, banks and non-banking financial institutions to achieve stability and economic growth.
Al-Allaq said during the conference, “The Challenges Facing Arab Banks in Complying with International Laws and Legislation and Meeting the Requirements of Correspondent Banks,” held in Baghdad in the presence of a large number of Arab banking and economic officials: “I am pleased to welcome you to your second country, Iraq, and I extend my thanks and gratitude to the Board of Directors of the Union of Banks.”
The Arab League, the Secretary-General of the Association of Iraqi Private Banks, and everyone who contributed to enabling the holding of this conference, the importance of which is not hidden from everyone, is within the framework of the many cooperation and partnerships that the Central Bank of Iraq establishes with various Arab and international organizations and institutions and its openness to them, with the aim of exchanging experiences and improving performance in the banking and financial sector. .
He added, "This reflects the compatibility of development visions and strategic objectives with regard to the topics being addressed, which focus on fundamental and fundamental areas, such as supporting economic development, combating money laundering and terrorist financing, digitizing financial and banking services and products, electronic payments, and achieving financial inclusion goals."
Pointing out that "these issues directly affect the economy and the lives of citizens, as it is not possible to research the reality of the banking sector and the reality of banks apart from the overall economy."
Al-Alaq stressed that “central banks faced increasing challenges after decades of traditional functions and tasks, which could be close to static, until each period brought different challenges that required a special approach to confront them,” pointing out that “after long periods of decline in interest rates and inflation,
The global economy has begun to face a phase characterized by high inflation and high levels of public and private debt, which has called on central banks to sense the urgent need to include financial stability and concerns about deflation within their economic models and to develop unconventional tools to deal with them.
He continued, "The financial crisis in 2008 was followed by a series of challenges, as public debt rose and the rush to raise interest rates to confront inflation threats made servicing the public debt more expensive. Here, it is difficult to balance in achieving intersecting goals that make it difficult to approach them," pointing out that "since... “The Corona crisis has become clear that public financial policy can correct one of the factors driving increased inflation.”
He stated that "the nature of shocks and the frequency of their occurrence have changed locally and internationally, as shocks historically occurred due to increased or decreased demand, with the exception of supply shocks, which is known as stagflation in the 1970s of the last century,"
pointing out that "there are many shocks today, including demand versus supply, and special risks versus Systemic risks, transient versus permanent shocks, which requires a modified approach in the face of sudden and unexpected changes.”
He stated that "central banks face new challenges in the interaction between financial and monetary stability, in light of the dominance of general financial policy and the necessity of central banks to facilitate excessive government debts, in accordance with financial control, which requires reducing spending or increasing domestic revenues, or both."
He stated that "over the past 10 years, the Iraqi banking sector has witnessed significant qualitative developments in response to the adoptions and policies of the Central Bank of Iraq, as it introduced and applied for the first time the concepts and practices of compliance rules, governance, risk management, prudential oversight, risk-based oversight, comprehensive quality management, business continuity, digital services, and financial inclusion."
He stated that "despite all these developments, there remain major and mounting challenges represented by the challenges of compliance with international laws, legislation, requirements and standards," explaining that "these challenges have a direct connection and impact on the openness of local financial institutions to their international counterparts."
He stressed that “to the extent that all of this achieves communication and connection with the outside world, it undoubtedly carries many challenges and implications,” expressing his hope that “this conference will succeed in satisfying it, reaching effective solutions to this challenge, and devoting cooperation and coordination between Arab central banks and Arab banks.” and non-banking financial institutions, to achieve stability and growth.” https://www.mawazin.net/Details.aspx?jimare=247412
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
Provoking Thoughts and Points to Ponder on Wealth
True abundance is not about gathering more things, it's about touching the place in us that is connected to the divine source of abundance, so that we know what we need in the moment will be provided. - Mary Manin Morrissey
It's time we put thoughts of lack behind us. It's time for us to discover the secrets of the stars, to sail to an uncharted land, to open up a new heaven where our spirits can soar. - Sarah Ban Breathnach
It is good to have things that money can buy, but it is also good to check up once in awhile and be sure we have the things money can't buy. - George Horace Lorimer
Ordinary riches can be stolen, real riches cannot. In your soul are infinitely precious things that cannot be taken from you. - Oscar Wilde
'Let us not get so busy or live so fast that we can't listen to the music of the meadow or the symphony that glorifies the forest. Some things in the world are far more important than wealth; one of them is the ability to enjoy simple things. - Dale Carnegie
Goldilocks' Comments and Global Economic News Monday Evening 5-6-24
Goldilocks' Comments and Global Economic News Monday Evening 5-6-24
Good Evening Dinar Recaps,
"When gold is set free, so are we."
Let's take a close look at why that is. There is a strong belief that gold is no longer determined by economic prices on the market. A shift is occurring and China is in the middle of it.
Much of the gold prices as of late have been driven by the China Market buying up this particular precious metal. It is one of the requirements of the BRICS Nations in joining this alliance to trade goods and services with the backing of gold.
In other words, we have new price discoveries taking place attempting to reset the price of gold. The higher the price of gold goes, it has the ability to determine the price of the dollar going forward. When gold is the standard over the dollar, price discoveries on foreign currencies begin to shift.
Gold and the Dollar have a correlated relationship that is currently breaking down because of inflation, de-dollarization, and the purchase of gold by countries overseas.
Goldilocks' Comments and Global Economic News Monday Evening 5-6-24
Good Evening Dinar Recaps,
"When gold is set free, so are we."
Let's take a close look at why that is. There is a strong belief that gold is no longer determined by economic prices on the market. A shift is occurring and China is in the middle of it.
Much of the gold prices as of late have been driven by the China Market buying up this particular precious metal. It is one of the requirements of the BRICS Nations in joining this alliance to trade goods and services with the backing of gold.
In other words, we have new price discoveries taking place attempting to reset the price of gold. The higher the price of gold goes, it has the ability to determine the price of the dollar going forward. When gold is the standard over the dollar, price discoveries on foreign currencies begin to shift.
Gold and the Dollar have a correlated relationship that is currently breaking down because of inflation, de-dollarization, and the purchase of gold by countries overseas.
When the price pressures on gold becomes so great, it will require new formulations of values and a reset in gold will occur. All of our tokenized assets backed by gold, our stablecoins that represents a country's currencies backed by gold, and gold itself will be free to move into a real value.
These new values will be determined by supply and demand, and not, a predetermined price set to parallel a particular World Reserve Asset. This is when we have a reset.
Here is what the final moments look like...
Paper trades in gold and silver on the COMEX Market are stopped.
When trades in paper gold and paper silver in the Futures Market come to a halt, this will enable them to adjust spot prices on physical gold and physical silver.
A slight movement upward (manually done) occurs to encourage trade. This is done over and over again until the market recognizes the new determinations and price correlations.
This is where you see chart gaps happen in the market, and they have to be filled.
Once these gaps are filled and new movement forward on gold and silver are secured, we have a reset. This will reset everything. CME Group NY Times
Everything.
© Goldilocks
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New Bank merger guidelines
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Are Real-Time Payments Near an Inflection Point? BofA Thinks So | Payments
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Banking Intel:
Commercial Lenders (Relationship Managers) are currently receiving electronic messages to sign up for Foreign Currency Training. Street Directory Learn Study
© Goldilocks
👆 By the way, Commercial Lenders are having to report for foreign currency exchange training. It is not an option. It is a requirement.
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Building a User-Friendly Interface for Central Bank Digital Currency Applications: A Case Study | HackerNoon
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If Ripple is not a security, it is a commodity. A precious metal. And, you can currently get it for just over 50 cents.
Many of you have stated that you cannot afford precious metals. Well, you don't have an excuse now. Why would you wait for it to go up?
The case is expected to be finished in September 2024. What are you waiting for? This is not advice, but it is probably one you wished a year from now someone had given to you. Youtube
© Goldilocks
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“Tidbits From TNT” Monday 5-6-2024
TNT:
Tishwash: Signing a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency
Today, Monday, the Ministry of Planning announced the signing of a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency.
The ministry said in a statement received by the Iraqi News Agency (INA): “On behalf of the Prime Minister, Muhammad Shia al-Sudani, the Minister of Planning, Muhammad Ali Tamim, today sponsored the signing ceremony of a memorandum of understanding between the Iraqi Trade Bank and the Japanese Development Agency (JICA).”
The statement added, "The signing ceremony was attended by the Prime Minister's Advisor, Muhammad al-Daraji, the President of the Trade Bank of Iraq, and a number of officials in the Ministries of Foreign Affairs and Finance, while on the Japanese side it was attended by representatives of the Japanese Embassy in Iraq and the JICA Agency." link
TNT:
Tishwash: Signing a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency
Today, Monday, the Ministry of Planning announced the signing of a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency.
The ministry said in a statement received by the Iraqi News Agency (INA): “On behalf of the Prime Minister, Muhammad Shia al-Sudani, the Minister of Planning, Muhammad Ali Tamim, today sponsored the signing ceremony of a memorandum of understanding between the Iraqi Trade Bank and the Japanese Development Agency (JICA).”
The statement added, "The signing ceremony was attended by the Prime Minister's Advisor, Muhammad al-Daraji, the President of the Trade Bank of Iraq, and a number of officials in the Ministries of Foreign Affairs and Finance, while on the Japanese side it was attended by representatives of the Japanese Embassy in Iraq and the JICA Agency." link
CandyKisses: Sudani to visit Italy next week
BAGHDAD (NINA) - Political adviser to the Prime Minister Sebhan Mullah Jiyad has revealed a visit by Prime Minister Mohammed Shia al-Sudani to Italy next week.
Mullah Jiyad said in a statement to the official newspaper: "The Prime Minister will go to the Italian capital Rome on a two-day visit starting on the tenth of May," explaining that "this visit comes within the Iraqi diplomatic openness led by the Sudanese government, and linking it to the economic dimension."
He pointed out that "Iraq and Italy have many commonalities at the political and diplomatic levels, as well as interrelated interests at the economic level, as there are many Italian companies that have dealt and are dealing with Iraq, especially in industries related to the energy sectors, in addition to Italy's participation in the international coalition in the war against (ISIS) and its support for Iraq."
He stressed that "this visit comes within the direction to arrange the bilateral relationship between Iraq and the countries of the international coalition in preparation for scheduling its withdrawal from Iraq."
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CandyKisses: The launch of the conference of the Union of Arab Banks in Baghdad
Monday 06, May 2024
Baghdad / Nina / The activities of the Union of Arab Banks Conference, sponsored by the Central Bank of Iraq, were launched in the capital, Baghdad, under the title "Challenges facing Arab banks in complying with international laws and legislation and meeting the requirements of correspondent banks."
The two-day conference, which was held at the Babylon Hotel, was attended by Central Bank Governor Ali Al-Alaq, government and parliamentary figures, and a number of Arab banking and economic officials.
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Tishwash: Arab banks: Iraq supports the transition from dependence on oil revenues to a diversified economy
The Union of Arab Banks confirmed on Monday that the Iraqi government supports the country's transition from dependence on oil revenues to a successful diversified economy, while putting forward four proposals to enhance the compliance environment for Iraqi banks.
The Secretary-General of the Union of Arab Banks, Wissam Hassan, said during the conference “The Challenges Facing Arab Banks in Complying with International Laws and Legislation and Meeting the Requirements of Correspondent Banks,” held in Baghdad in the presence of a large number of Arab banking and economic officials, and attended by the correspondent of the Iraqi News Agency (INA): "Enhancing international confidence in Iraqi banks requires additional effort on multiple fronts, to enhance the compliance environment for Iraqi banks."
He pointed out, “There are four proposals to enhance the compliance environment in Iraqi banks. First, Iraqi banks must invest in a strong compliance infrastructure, and the second proposal is to adopt advanced technology, which leads to changing the rules of the game in the field of compliance, as there are many programs, including It relies on artificial intelligence, which helps in the compliance process and data analysis.”
He added, "The third proposal is to adopt the principle of transparency in banking operations and the preparation of financial reports, in order to build sustainable trust with the international community. The last and most important proposal, in our opinion, is to prepare a comprehensive national plan for capacity development, training and qualification, especially in the field of affiliation."
He continued, "Here the Union of Arab Banks proposes that a committee be established under the name of the National Capacity Development, Training and Qualification Committee, in cooperation between the Union of Arab Banks and the Association of Iraqi Private Banks and under the supervision of the Central Bank of Iraq, and its tasks will be training and qualifying Iraqi cadres and building capabilities in the subject of compliance and combating money laundering and terrorist financing." And combating corruption, to become what is called a certified director for combating financial crimes.”
He went on to say: "The committee's mission is also to provide consultation and technical support to develop and choose the special compliance program for each bank, in addition to forming an influence and communication force to develop Iraqi banks' relations with international banking and regulatory authorities, especially American ones, in addition to documenting policies, procedures and internal controls related to compliance for each bank." .
In turn, member of the Board of Directors of the Union of Arab Banks, Ziad Khalaf, said during the conference: “Compliance with international laws and legislation is not just a legal necessity, and not just an obligation, but rather an investment in confidence and economic stability, an investment that reflects our commitment to transparency and integrity, and our responsibility to ensure the protection of interests.” Finance, which is, in short, the basis of success and sustainability in mid-range businesses.”
He added, “If the Arab world wants to achieve integration and economic renaissance in the region, economists must recognize the historical moment in Iraq, which is the fourth largest economy in the Middle East and North Africa,” expressing his regret that “our Arab region is one of the least integrated regions in the world, as there is no Two-way trade represents only 18 percent of total trade, as well as of total exports.
He explained, "The Iraqi government today supports the country's transition from dependence on oil revenues to a diversified economy, as a single economy is fraught with risks, while a diversified economy is guaranteed success."
He pointed out that "activating the banking sector requires expanding electronic payment services and ensuring the granting of credit formations and loans by developing work mechanisms, including control and oversight, and enhancing their flexibility while adopting digital solutions, in addition to enhancing information security, combating fraud operations, and ensuring compliance with financial and banking legislation and laws," calling for "Enhancing cooperation in order to build strong foundations for sustainable growth in our Arab region link
Mot: .... Starting to Understand - I Is!!!
Mot: The RV plan (From Recaps Archives)
Iraq Economic News and Points to Ponder Sunday Evening 5-5-24
Iraq Economic News and Points to Ponder Sunday Evening 5-5-24
Revealing The Latest Developments In Changing The Exchange Rate And The Barrel Of Oil In The 2024 Budget
Economy| 02/05/2024 Mawazine News - Baghdad, Deputy Chairman of the Parliamentary Planning Committee, Muhammad Karim, confirmed today, Thursday, that the current year’s budget will proceed after completing the changes in its schedules for allocations for governorate and ministries projects only. Karim told Mawazine News,
“The exchange rate of the dollar, the barrel of oil, and the quantity exported will remain the same according to what was proven in last year’s budget.”
He pointed out that "the tripartite budget approved by the Sudanese government and approved by the House of Representatives allowed the government to make changes and amendments imposed by the impact after the parliament's vote."
He pointed out that "the changes to the schedules will include projects of ministries and governorates in accordance with the requirements of the government program." https://www.mawazin.net/Details.aspx?jimare=247191
Iraq Economic News and Points to Ponder Sunday Evening 5-5-24
Revealing The Latest Developments In Changing The Exchange Rate And The Barrel Of Oil In The 2024 Budget
Economy| 02/05/2024 Mawazine News - Baghdad, Deputy Chairman of the Parliamentary Planning Committee, Muhammad Karim, confirmed today, Thursday, that the current year’s budget will proceed after completing the changes in its schedules for allocations for governorate and ministries projects only. Karim told Mawazine News,
“The exchange rate of the dollar, the barrel of oil, and the quantity exported will remain the same according to what was proven in last year’s budget.”
He pointed out that "the tripartite budget approved by the Sudanese government and approved by the House of Representatives allowed the government to make changes and amendments imposed by the impact after the parliament's vote."
He pointed out that "the changes to the schedules will include projects of ministries and governorates in accordance with the requirements of the government program." https://www.mawazin.net/Details.aspx?jimare=247191
Savings And Financial Inclusion
Economical 05/06/2024 Muhammad Sharif Abu Maysam There is a close relationship between saving and financial inclusion, as
economies with good levels of saving are usually more
comprehensive,
stable, and
consistent in financial trades and exchanges,
growth rates, and the
ability to withstand shocks.
It seems that this relationship was an impetus for adopting the slogan
“Towards encouraging saving to enhance... Financial Inclusion” on the occasion of the Arab Financial Inclusion Day, which falls on April 27th every year.
Financial inclusion means providing financial services to all societal groups and encouraging them to open bank accounts, by
opening more bank branches in places far from city centers, and
introducing more payment systems and technologies that contribute to
reducing episodes of slackness in performance and
resoring confidence between the public and the banking sector.
This establishes the withdrawal of the cash mass stored in homes and other places of hoarding, and thus recycling it in credit operations and economic projects in order to support the business environment and address the problem of unemployment in the labor market and thus achieve sustainable development.
The banking sector in our country participates in financial inclusion activities that promote and open up to the public in public places, universities, and commercial centers, with the aim of encouraging the public to deal with the banking sector and increasing the proportion of transactions and transactions in the banking arena, thus achieving the highest levels of savings.
Such productive activities may have a degree of impact depending on the regions in which they are held, and complement what the relevant authorities are working for in the context of adopting electronic payment systems and protecting the public.
However, there are obstacles that need to be contemplated and reconsidered if we want to achieve positive results in the file.
Encouraging savings, and achieving the complementary relationship between financial inclusion and withdrawing the public’s accumulated cash mass, which the relevant authorities estimate at approximately 70 percent of the issued cash.
The first of these problems that need study and contemplation is the problem of the difference in the currency exchange rate, which prompts the public to buy foreign currencies as a safe haven. From exchange rate fluctuations,
solving this problem contributes significantly to creating trust between the public and banks, in addition to the possibility of raising the interest rate in light of the increase in government spending on service projects, which may result in an increase in inflation rates, and we believe that providing banking privileges to savers is the way.
It is appropriate to encourage saving, such as guaranteeing access to housing units for savers, especially children and young women, at half the price after ten or fifteen years of saving at certain rates, or offering a free marriage grant if these age groups continue saving for about a number of years. https://alsabaah.iq/96119-.html
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Provoking Thoughts and Points to Ponder on Wealth
I have enough money to get by. I'm not independently wealthy, just independently lazy, I suppose. - Montgomery Clift
I have no complex about wealth. I have worked hard for my money, producing things people need. I believe that the able industrial leader who creates wealth and employment is more worthy of historical notice than politicians or soldiers. - Paul Getty
I was born into it and there was nothing I could do about it. It was there, like air or food, or any other element. The only question with wealth is what you do with it. - John D. Rockefeller
I wish to become rich, so that I can instruct the people and glorify honest poverty a little, like those kind-hearted, fat, benevolent people do. - Mark Twain
In big houses in which things are done properly, there is always the religious element. The diurnal cycle is observed with more feeling when there are servants to do the work. - Elizabeth Bowen