“Tidbits From TNT” Saturday 6-8-2024

TNT:

CandyKisses:  The Office of the Supreme Reference determines the first day of Dhu al-Hijjah and the first day of Eid al-Adha

Information / Baghdad

The office of the Supreme Reference, Mr. Ali al-Sistani, announced today, Friday, that tomorrow, Saturday, is the first day of the month of Dhu al-Hijjah.

The office set Monday 17/6, the first day of Eid al-Adha

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Spec1:  Dhu al-Hijjah is the twelfth and final month in the Islamic calendar. It holds special significance for Muslims worldwide:

Hajj: During this month, Muslim pilgrims from around the world gather in Mecca to perform the Hajj (Pilgrimage). The Hajj rites begin on the eighth day and continue for four or five days.
Eid al-Adha: Also known as the “Festival of the Sacrifice,” Eid al-Adha begins on the tenth day of Dhu al-Hijjah and ends on the thirteenth day. It commemorates the willingness of Ibrahim (Abraham) to sacrifice his son Isma’il (Ishmael) for Allah.

Sacred Days: The first nine days of Dhu al-Hijjah are considered sacred. Muslims engage in acts of worship, including extra charity (Sadaqah), better prayers (Salaah), and recitation of the Qur’an.

Remember that Dhu al-Hijjah migrates throughout the seasons due to the lunar calendar. Its significance lies in the Hajj and the observance of Eid al-Adha
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During Dhu al-Hijjah, countries do not typically close down entirely. However, there are specific events and observances associated with this month:

Hajj Pilgrimage: Dhu al-Hijjah is the month when the Hajj pilgrimage takes place in Mecca, Saudi Arabia. Millions of Muslims from around the world participate in this annual pilgrimage.
Eid al-Adha: On the 10th day of Dhu al-Hijjah, Muslims celebrate Eid al-Adha (the Festival of Sacrifice).

It’s a significant holiday marked by communal prayers, feasting, and acts of charity.
Arafat Day: The ninth day of Dhu al-Hijjah, known as Arafat Day, is a key part of Hajj. Pilgrims gather at Mount Arafat for prayers and reflection.
While there are no widespread closures during the entire month, specific religious and cultural activities occur

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Tishwash:  Sudani arrives in Maysan to inaugurate projects

Shafaq News / Iraqi Prime Minister Mohammed Shia Sudanese arrived, Saturday morning, to Maysan province, south of the country.

His media office said in a statement, received by Shafaq News, that Al-Sudani inaugurated the associated gas processing project in the Halfaya field in Maysan province with a capacity of 300 million standard cubic feet / day.

On Saturday, Sudani is scheduled to visit the southern provinces of Maysan and Basra to inaugurate a number of oil projects, a government source told Shafaq News.

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CandyKisses:  Tomorrow.. Tripartite meeting between the Ministries of Federal Oil and Natural Resources in the Region and oil companies

 Baghdad / Nina / Sources in the oil companies operating in the Kurdistan region revealed that a tripartite meeting will be held tomorrow, Sunday, between the ministries of federal oil and natural resources in the region, and oil companies, to discuss the resumption of the export of oil in the Kurdistan region via the pipeline to Turkey.

A senior official in one of the oil companies operating in the Kurdistan Region told the Kurdish Rudaw Media Network on Saturday: "The oil companies have comments on the conditions of the Iraqi government to resume exports."

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Baghdad praises its financial budget and confirms: We have important projects in 2024

Economy News - Baghdad

Baghdad Governor Abdul Muttalib al-Alawi announced on Friday a package of projects in various sectors within the budget for the current year 2024, while stressing that the province's allocations in the budget were good.

Al-Alawi said that "the financial allocations for Baghdad province within the budget for the current year 2024 are good," explaining that "the government and the parliamentary finance committee have an understanding and knowledge of the real needs and resources required in Baghdad."

"There is continuous communication with the government to meet the special needs required for the projects that will be implemented," he said.

He pointed out that "the province has several important projects during the 2024 budget, including projects in the water sector, the construction of schools and roads, as well as the construction of pedestrian bridges that will be implemented in all areas of Baghdad, paving main roads, strategic sewage projects at the four entrances to the capital, in addition to almost completed hospitals that will open soon, health centers and strategic water projects."

"All project packages will be placed on the list of priorities of Baghdad province in stages of implementation, whether within the 2023 budget or the 2024 budget," he said.

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Mot I Finded Such Happy Things on da Net I Do!!! 

Mot:  ...... Have a Very 

Iraq Economic News and Points To Ponder Late Friday Evening 6-7-24

Iraq Economic News and Points To Ponder Late Friday Evening 6-7-24

In Numbers: The Decline In The Value Of The Reserves Of The Central Bank Of Iraq

 Economy | Yesterday, 16:10 |  Baghdad Today – Baghdad   Economic researcher Manar Al-Obaidi revealed today, Friday (June 7, 2024), a decline in the value of the Central Bank of Iraq’s total foreign reserves by 2.4%.

 Al-Obaidi said in a statement, received by “Baghdad Today,” that  “the official reserves of the Central Bank of Iraq declined in the fifth month of the current year compared to the end of 2023 by 2.4%, so that the value of the official reserves decreased from 147 trillion dinars in 2023 to reach 143 trillion at the end of the fifth month of the year.” current". 

He pointed out that  "the Central Bank's gold reserves increased by 16% compared to 2023, bringing the value of the gold reserves to 14.3 trillion dinars, up from 2023, when the value of the gold reserves at the end of last year was 12.3 trillion dinars." 

 Al-Obaidi added, "As for the investment reserve, it decreased by 4.68% compared to the end of 2023, and its value this year reached 126.4 trillion dinars, after  it was at the end of last year at a value of 132.6 trillion dinars."   

 https://baghdadtoday.news/251067-بالأرقام.-تراجع-قيمة-احتياطيات-البنك-المركزي-العراقي.html    

OPEC Plus Assurances Raise Global Oil Prices

Economy | 09:34 - 06/07/2024   Follow - Mawazine News  Oil prices rose today, Friday, as assurances from OPEC Plus members Saudi Arabia and Russia indicated readiness to halt or cancel production increases, but the markets are heading towards incurring losses for the third week in a row.

Brent crude futures rose two cents to $79.89 per barrel, and US West Texas Intermediate crude futures rose four cents to $75.59.

Prices rose yesterday, Thursday, when Saudi Arabia and Russia tried to reassure the markets about production agreements, but oil is on its way to recording losses for the third week in a row.

The Organization of the Petroleum Exporting Countries and its allies, including Russia, agreed to extend most of the production cuts until 2025, but they left the way open for eight members to gradually cancel the voluntary cuts.

Saudi Energy Minister Prince Abdulaziz bin Salman said yesterday, Thursday, that the OPEC+ alliance can stop or cancel production increases if it finds that the market is not strong enough.

https://www.mawazin.net/Details.aspx?jimare=249292

An Economic Expert For Nina: Reducing The External Debt To 9 Billion Dollars And Reducing The Budget Deficit Will Be The Beginning Of Broader Economic Activities In Iraq.

Friday 07, June 2024 14:11 | Economical Number of readings: 377  Baghdad / NINA / Economic affairs expert, Raad Tawij, confirmed that the actions and achievements of the Prime Minister give flexibility to the Iraqi economy, indicating that reducing the external debt to 9 billion dollars and reducing the budget deficit to 63 billion dollars will be the beginning of broader economic activities.

Tawij said in a statement to the National Iraqi News Agency ( NINA ): “The role of the Prime Minister and his work in developing infrastructure, roads and bridges, health projects, productive diplomatic relations, and his interests in communicating with different social segments, give great scope and flexibility for the Iraqi economy to move to greater extents.”

He stressed . “Reducing the external debt to the lowest possible amount, approximately 9 billion dollars, and reducing the budget deficit to 63 billion dollars will be the beginning of broader economic activities, the most important of which is the road to development.”/  https://ninanews.com/Website/News/Details?Key=1131180

A "Strategic Partnership" Between The Kurdistan Government And The International Development Bank

Time: 06/07/2024 13:59:06 Read: 1,196 times  {Economic: Al-Furat News} The International Development Bank signed a partnership contract with the Kurdistan Regional Government to implement the “My Account” project, which aims to localize the salaries of regional government employees.

This important step came in conjunction with the bank’s efforts to expand in the region, as part of its strategic plan that aims to enhance its business and increase the number of its branches in the region, which currently number 3 branches.

This partnership is a major achievement within the framework of efforts aimed at spreading and strengthening the culture of electronic payment and achieving financial inclusion, in implementation of the directives of the Central Bank of Iraq.

The International Development Bank aims to continue its efforts in the field of disseminating electronic payment methods in the region, by activating more ATMs and the bank’s POS points of sale. The bank also intends to open its fourth branch in the region during the current year.

Aziz Ahmed - Deputy Director of the Office of the Prime Minister of the Kurdistan Regional Government praised the efforts of the International Development Bank and its contribution to developing the financial system of the region, by providing various facilities and financial services that contribute to achieving this purpose.

For his part, Ziad Khalaf, Chairman of the Board of Directors of the International Development Bank, stressed the importance of signing this partnership with the Kurdistan Regional Government to localize the salaries of regional government employees and provide all the facilities that contribute to achieving this goal smoothly and with great flexibility.    LINK

Baghdad Praises Its Financial Budget And Confirms: We Have Important Projects In 2024

Reconstruction and building  Economy News – Baghdad  Today, Friday, the Governor of Baghdad, Abdul Muttalib Al-Alawi, announced a package of projects in various sectors within the budget for the current year 2024, while confirming that the governorate’s allocations in the budget were good.

Al-Alawi said, “The financial allocations to Baghdad Governorate within the current year’s budget, 2024, are good,” explaining that “the government and the Parliamentary Finance Committee have an understanding and knowledge of the real needs and required resources in Baghdad.”

He added, "There is continuous communication with the government to meet the special needs required for the projects that will be implemented."

He pointed out that "the governorate has several important projects during the 2024 budget, including projects in the water sector and building schools and roads, as well as the construction of pedestrian bridges that will be implemented in all areas of Baghdad, the paving of main roads, and strategic projects for sewers at the four entrances to the capital, in addition to the almost completed hospitals, which are “Health centers and strategic water projects will be opened soon.”

He stressed that "all project packages will be placed on the list of priorities of Baghdad Governorate in stages of implementation, whether within last year's 2023 budget or in the 2024 budget."

140 views  Added 06/07/2024 - https://economy-news.net/content.php?id=44096

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

Every failure made me more confident. Because I wanted even more to achieve things, as revenge. To show that I could.  - Roman Polanski

Adversity is, to me at least, a tonic and a bracer.  - Sir Walter Scott

Difficulties should act as a tonic. They should spur us to greater exertion.  - B. C. Forbes

There are times in everyone's life when something constructive is born out of adversity ... when things seem so bad that you've got to grab your fate by the shoulders and shake it.  - Anonymous

Brave men rejoice in adversity, just as brave soldiers triumph in war.  - Marcus Annaeus Seneca

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Friday Evening 6-7-24

Goldilocks' Comments and Global Economic News Friday Evening 6-7-24

Good Evening Dinar Recaps,

Family Office Update: Exchange Act Form 13F – New Requirements Effective July 1, 2024

In a nutshell, Section 13(f) requires any “institutional  investment manager” that exercises investment discretion  over the accounts of any other person holding “section  13(f) securities”3 with an aggregate fair market value of at least US$100 million to make certain periodic filings with  the Securities and Exchange Commission (SEC) on Form  13F. Section 13(f) applies to all “institutional investment   managers,” regardless of whether they are registered as  investment advisers under the Advisers Act.

Therefore,  a family office, even if it is not required to register under  the Advisers Act, may nevertheless be an “institutional  investment manager” for purposes of Section 13(f), and  therefore be required to make filings on Form 13F.

Reporting obligation that will become effective on July 1,  2024. Each Form 13F filer will now be required to make an  annual filing on Form N-PX to disclose its votes on any pay-related proposals presented to stockholders by the public  companies in its investment portfolio.

Although Form 13F only requires reporting in respect  of “section 13(f) securities” (as identified on the SEC’s  quarterly Form 13F List), Form N-PX reporting is not limited to  securities on that list, but it applies to pay-related votes cast on  all securities registered under Section 12 of the Exchange Act.

Family offices that are required to file Form 13F will need  to develop procedures to identify and keep a record of any  pay-related proposals that are presented at their portfolio  companies’ stockholder meetings – and how they cast their  votes – so that they will be able to make accurate and timely  filings of Form N-PX, which must be made annually by August  31 of each year, covering the filer’s say-on-pay voting record  9+ for the 12-month period ended June 30.

Form N-PX filings will be available to the public through the SEC’s website.  Squire Patton Boggs  SEC

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Model Portfolios by J.P. Morgan. | J P Mprgan

Asset Managers will play a larger role in the new banking system offering you new opportunities going forward.

Several portfolio options have changed that include Digital Asset opportunities explored and powered by artificial intelligence guidance.

Many of our new portfolios will include artificial intelligence guidance that outlines a path forward for investors depending on their personal needs.

The ability to invest in Quantum Technologies will offer higher yield percentage rates for those who invest in the new technical sciences.

Digital Asset opportunities that move through the market/banking system will be available for those who want to use the new and improved updated tokenized asset market to invest in Bitcoin and other assets without the responsibility of holding the coins themselves.

The new banking system is run off of a Digital Ledger Technological System. Because of these changes, artificial intelligence will play a larger role in the banking system than before. You may see less workers in a bank and more personal wealth managers known as relationship managers.

It is important for us to know and be known by our relationship managers in the banking system going forward to receive personal guidance that we once received in other ways in the past.

© Goldilocks

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IBM and Pasqal Initiate Collaboration to Define Classical-Quantum Integration for Quantum-Centric Supercomputers |  The Quantum Insider

IBM and Pasqal announced their intent to partner to develop a common approach to quantum-centric supercomputing.

The teams will also promote application research in chemistry and materials science.

The two companies share the vision for a common approach to integration based on open-source software and involvement in the technical community.

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Quantum startup Pasqal partners with US competitor IBM to develop ‘quantum-centric supercomputing’  |  Sifted

"Paris-based quantum computing startup Pasqal is joining forces with US tech giant IBM to work on technologies that combine the capabilities of quantum and conventional computers.

The two companies are usually portrayed as competitors: Pasqal is one of Europe’s best-funded startups building quantum computers, while IBM has poured billions into the technology and is considered a leader in the sector. 

But they are now set to collaborate to develop what is known as ‘quantum-centric supercomputing’ — a term coined by IBM to describe the integration of quantum and conventional computations within a single workflow to make the most of what each technology is best at."

In other words, traditional computers of the past are joining forces with the quantum computers of the future. You could say that the computer industry is getting an upgrade.

It is very similar to what is happening inside the new Digital Financial System. Traditional Banking is being upgraded into a new Digital Asset Based Trading System.

It is amazing how our lives are changing so rapidly at this point. The movement into a technological creative age has just begun.

© Goldilocks

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IOTA has launched its L2 EVM network focusing on real-world asset usage | CoinJournal

IOTA launches layer 2 EVM or Ethereum Virtual Machine network, integrating real-world assets and boosting DeFi.

The newly launched EVM network features smart contracts, cross-chain capabilities, and MEV or Price manipulation protection."

IOTA is the first distributed ledger built for the “Internet of Everything.” it is a network for exchanging value and data between humans and machines.

This digital network exchanges value assets on just about anything you can think of that is tokenized. This includes just about any goods and services products you can think of going forward.

Iota is the backbone of Web 3 decentralized transactions. It records data transfers on items of value between institutions and people.

This network is designed to build digital trust between monetary transactions in the new technological age.

© Goldilocks

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Technology and Gold are merging together forming new alliances/digital networks that move money electronically enabling standard digital protocols for tokenized assets and their payment systems governed by artificial intelligence.

© Goldilocks

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Institutional Investor: Who They Are and How They Invest | Investopedia

An institutional investor is a company or organization that invests money on behalf of clients or members.

Hedge funds, mutual funds, and endowments are examples of institutional investors.

Institutional investors are considered savvier than the average investor and are often subject to less regulatory oversight.

The buying and selling of large positions by institutional investors can create supply and demand imbalances that result in sudden price moves in stocks, bonds, or other assets.

Institutional investors are the big fish on Wall Street.

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Bretton Woods Project IMF Reforms Announcement | Bretton Woods Project

After long awaited negotiations, the IMF concluded its 16th General Review of Quotas with no meaningful reform to shift the balance of power in favour of emerging economies to ensure a more accurate representation of countries in the global economy. 

This reform agenda would include the following points:

* Reform of conditionality to make it more flexible;

* A reduction in the costly surcharges applied to large and longer-term lending;

* A bolstering of concessional financing for low-income members;

* An increase in the overall resources available to the Fund by making the future roll-back of borrowing lower than the quota increase approved in December 2023;

* A higher proportion of basic votes to increase the voting power of smaller nations;

* A third chair for Sub-Saharan African countries in the executive board;

* A fifth deputy managing director position to ensure a greater presence of middle- and low-income in the IMF’s administration.

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#VinceLanci : #BRICS mBridge Platform Goes Live | Youtube

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LIVE: White House Riot fences going up late in the evening. | Youtube

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XLM, XRP, and XDC are utility tokens. Utility tokens are backed by a physical asset.  

10 cents, 49 cents, and 3 cents a coin are not bad prices for precious metals.  😉

© Goldilocks

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The Financial Reset Feat. Bill Holter

The Financial Reset Feat. Bill Holter - LFTV Ep 176

Kinesis Money:  6-7-2024

In this week’s episode of Live from the Vault Andrew Maguire is joined by popular returning guest Bill Holter, former stockbroker and branch manager turned precious metals expert and Miles Franklin contributor.

The old friends discuss the shadowy movements operating behind the scenes to reset the world’s financial system, and how individuals can take steps to protect themselves and their families from coming troubles.

Timestamps

 00:00  Start

 02:35  How Bill is preparing himself for the future

 06:45 What’s been going wrong for the Fed since 2008

11:10 The BRICS Alliance threat to the globalist agenda

 16:50 The upcoming US election

20:45 Is the West pushing for World War 3?

25:30 How to take responsibility for ourselves in these times

 30:00 The Sound Money Movement

 34:30 Silver leading the rally

 40:45 Are there still opportunities for people? Yes

 43:00 What about Bitcoin?

https://www.youtube.com/watch?v=w_5A3BdUbQQ

Iraqi Economic News and Points To Ponder Friday AM 6-7-24

Iraqi Economic News and Points To Ponder Friday AM 6-7-24

Investment Law In The Balance Of The Economy

 Economical 06/06/2024  Dr.. Adnan Hadi Jaaz  There is no doubt that investment is one of the most important factors that can contribute effectively to correcting the defect in the structure of the Iraqi economy, diversifying sources of income, and reducing dependence on oil.

 Reaching this goal is one of the most important strategic goals that contribute to Iraq’s stability and development and confronting economic, political and social crises.

Therefore, the law that is drawn up to attract investment must direct the financial surpluses of Iraqi society and make them move in the direction that uses capital efficiently and achieves the maximum for Iraq. Possible benefit.

 Private sector investments, whether local or foreign, are among the most important factors that can be relied upon to solve the problems of the Iraqi economy.

 The private sector is the second wing of the economy, and reality and history have proven that its distance from the economic scene was one of the biggest historical mistakes in Iraq.

 However, in a quick reading of the new investment law, we are disappointed according to our vision and economic ambitions, and fears have increased for the future of this country’s economy, and  in this article we try to explain the reasons for this not optimistic vision.

 According to our reading, the proposed investment law is nothing more than a law for investment in residential cities, which is not considered a channel for transferring the financial surpluses of Iraqi society into the hands of a small, non-productive group, some of whom are foreign.

The investor in building residential cities can import all the materials he needs for the project without any return to the state or the state treasury.

 He can grant the land for free, and we all know that the lands overlap and there is no difference between what is inside the basic design and outside it. Obtaining financial facilities and soft loans.

After 25% of the project is completed, he has the right to withdraw the capital and profits in full.

 He has the right to employ foreigners, and of course these facilities will be used to import many times the materials and goods that the investor needs, which is the biggest source of increasing his profits and exporting foreign exchange many times the amount he obtained. Return as well as remittances of foreign workers.

 As for what was mentioned in the privileges, he has the right to use what he increased from the land after the completion of the residential project without restricting or even specifying the land.

 This is a lot of talk.

 If we assume that he decided to build facilities that are not appropriate for the privacy of Iraqi society, or any of the investments that are not appropriate for them to be in residential areas.

 Does the law allow us to prevent it? The second question is: He has the right to invest the surplus, regardless of its size: five, ten, or even twenty dunams, and perhaps more!

All of this is for the sake of producing housing units that are so far beyond the capacity and capacity of the middle class and even those with above-average incomes, and so far we only see from it an increase in the well-being of the wealthy by isolating them and settling them in private cities and in return absorbing the community’s financial surpluses and exporting them abroad.

Is this goal worth all these high economic costs?

 Yes, it can stimulate the economy and increase growth if Iraq produces what the real estate sector needs, and  therefore we say that it is an expansionary financial policy that aims to increase growth rates and income by increasing production rates and thus increasing employment and income rates in a way that contributes to solving the unemployment problem that haunts the political class and always threatens it. By failure.

 If we

     give the land for free with exemptions from taxes and fees, in addition to an

     interest-free loan to the investor, and we

     allow the employment of foreigners, and we

     allow the export of foreign exchange, which is the financial surpluses of citizens and the loans that came from the Central Bank and Iraqi banks,  then all these sacrifices are for the sake of increasing the well-being of the wealthy, nothing more and nothing less.

 There is a real solution to the problem of housing the poor and the middle class, and even

 if the needs of these segments are to be met, there are shorter and much less expensive ways, as the cost is great and very significant for the economic policy in general.

 If we assume for the sake of argument that the visionary aims to increase the supply of housing units until it exceeds demand, then the gradual decline in prices will begin.

I believe that with the presence of crazy financial surpluses, including money laundering and the legalization of corruption funds, and some segments on which there are no restrictions, and they are many without detail, this is what I call the effect.

 The double negative of this money is that it deducts from public funds and exploits citizens.

 It works to increase prices in a way that cannot be kept up with in the real estate sector, and real estate in Baghdad and Basra are the best examples.

 Therefore, this goal is difficult to achieve and requires a long period of time or for these cities to reach remote areas. Too far.

 We must be patient in approving this law, and we must push financial surpluses of all kinds in another, more efficient direction, as  they are an important financial resource and the key to solving many of Iraq’s economic, political and social problems.

 We push them towards industry, especially with goods that meet the needs of the real estate sector and modern agriculture that meets the market’s need, and this is something that can be achieved.

 Easily with the very large profit opportunities from the very large movement of the real estate sector due to the support of the financial and monetary policies represented by the initiatives of the Central Bank, then

 it can be said that Iraq is pursuing a financial and monetary policy with clear features and results for the present and the future, and that these reasons for the investment law are somewhat logical.    https://alsabaah.iq/97948-.html   

Indicators Of The Growth Of Bank Cards In Iraq

 June 06, 2024  The Central Bank of Iraq announces indicators of the growth of bank cards with the total number of them issued for the years (2018 - 2023), which show an increase in the number of cards over the past years.  Central Bank of Iraq  information Office  June 6, 2024  https://cbi.iq/news/view/2602

 Indicators of the growth of bank cards in Iraq Clip_image004 https://cbi.iq/static/uploads/up/file-171765993776734.jpg

The Iraqi National Bank: We Do Not Deal With Companies Suspended By The Central Bank

June 6, 2024 Last updated: June 6, 2024   Independent/- The National Bank of Iraq confirmed that it does not deal with companies that the Central Bank of Iraq has stopped from entering the window for buying and selling foreign currency, pointing out that

 this comes in compliance with international standards for combating money laundering.

 The bank said in a statement,

“This confirmation is based on the National Bank of Iraq’s firm commitment to good governance and full transparency in implementing the instructions of the Central Bank of Iraq, and the bank’s keenness to apply the highest international standards to combat money laundering and terrorist financing.”

 Commenting on this decision, the bank’s authorized director, Ayman Abu Dhaim, stressed the importance of adhering to the principles of good governance as a basic pillar in all of the bank’s activities, saying:

 “We believe that good governance enhances trust with our customers and partners, and contributes to enhancing financial and economic stability.

 Transparency in implementing the instructions of the Central Bank of Iraq represents an integral part of our strategy to maintain the integrity of banking operations.”  Abu Dhaim explained,

 “The National Bank of Iraq adheres to the highest international standards in combating money laundering and terrorist financing, and follows strict procedures in auditing all financial transactions and verifying the sources of funds to ensure that they are not used in illegal activities.

 It also works to regularly update its systems to comply with best practices.” International and the instructions of the Central Bank of Iraq.

 Abu Dhaim pointed out  “the importance of the due diligence procedures followed by the bank to ensure the safety of customer funds and companies’ assets,” and said:

 “We are keen to implement due diligence procedures accurately, as we periodically examine transactions and ensure their compliance with national and international standards.”

 These measures contribute to enhancing confidence in our financial system and ensuring the safety of our customers’ funds.”  Abu Dhaim stressed,

 “The National Bank of Iraq places the interest of the national economy and the safety of the banking sector at the top of its priorities, and that

 its commitment to the instructions of the Central Bank of Iraq comes within the framework of this keenness to enhance financial stability and combat illegal practices.”    https://mustaqila.com/الأهلي-العراقي-لا-نتعامل-مع-الشركات-ال/    

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.  - Martin Luther King, Jr.

Great occasions do not make heroes or cowards; they simply unveil them to the eyes of men. Silently and imperceptibly, as we wake or sleep, we grow strong or weak; and at last some crisis shows what we have become.  - Brooke Foss Westcott

What does not destroy me, makes me strong.  - Friedrich Nietzsche

I long ago came to the conclusion that all life is six to five against.  - Damon Runyon

(Adversity is) the state in which a man most easily becomes acquainted with himself, being especially free from admirers then.  - Samuel Johnson

Adversity has the same effect on a man that severe training has on the pugilist - it reduces him to his fighting weight.  - Josh Billings

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

“Tidbits From TNT” Friday Morning 6-7-2024

TNT:

CandyKissses:  Integrity reveals moves to recover two of those involved in the theft of the century

Baghdad - Iraq Today:

The head of the Federal Integrity Commission, Haider Hanoun, confirmed the move to recover two of those accused of stealing the century from one of the countries, involved in stealing more than 3 trillion dinars.

Hanoun said in a press statement: "The case of theft of tax trusts, currently in the possession of the Anti-Corruption Investigation Court, the Anti-Corruption Criminal Investigation Office," indicating that "the entire case is with the judiciary."

He added, "The Commission of Integrity has an important development is to work to recover two of the accused in the crime of stealing tax trusts from one of the countries," noting that "when we found opposition measures and the delay of work we asked the Prime Minister to intervene in the matter, and he is seeking great effort to recover the fugitive defendants in the case of theft of the century."

He pointed out that "one of the defendants stole 2.6 trillion dinars, and the other 500 billion dinars, and when we can recover them, we will announce them and it will be a strengthened victory for this case; so that the judiciary can issue its speedy and fair verdict in the case, which will be considered a great victory over corruption."

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CandyKisses:  Deputy: Hidden hands working to prevent the rise of Iraq

Baghdad - Iraq Today:

Independent MP Kazem al-Touki confirmed that there are hidden hands trying to prevent Iraq from rising, commenting on the incidents of targeting restaurants and a number of brands in Baghdad.

Al-Toki said in a press interview that "Iraq has allocated sovereign amounts to guarantee foreign funds for investors and signed a number of agreements with international countries in order to secure funds in order to advance the economy."

"The development of the economy cannot take place without internal security, especially with regard to oil licensing rounds, as we have noticed the reluctance of a number of large international companies to enter into these rounds," he said.

"We have great confidence in the government of Prime Minister Mohamed Shia al-Sudani and Interior Minister Abdul Amir al-Shammari in following up on the issue of attacks on restaurants and brands," al-Touki said, noting that "there is a personal interference from them in this matter."

He explained that "all countries of the world are witnessing this kind of acts, but the situation of Iraq is somewhat different because security issues affect its economy," stressing that "there are hidden hands trying to prevent Iraq from rising."

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CandyKisses:  The framework settles the controversy: Al-Issawi as Speaker of Parliament

Baghdad - Iraq Today:

The coordination framework, which includes Shiite political forces except the Sadrist movement, confirmed that the defection of a group of Taqadam deputies will speed up the election of the speaker of the House of Representatives in the coming days.

The MP for the framework Salem Al-Anbaki in a press interview, that "the defection of a group of deputies of the Progress Party lost the right to claim the representation of the Sunni parliamentary majority, and the majority has become clear to the other party, which between its cohesion and fixed deputies within the alliance of sovereignty, determination and decisiveness, and now has become with them part of the deputies of progress."

Al-Anbaki said that "the process of defection of deputies will accelerate the process of electing the speaker of the Iraqi Council of Representatives and progress can not object because he does not have any parliamentary majority, unlike the Sunni party opposed to him, and this means that Salem Issawi came closer to the position of speaker of parliament and will be elected by an absolute parliamentary majority after the Eid al-Adha holiday."

Eleven members of the Iraqi parliament and members of provincial councils announced their defection from the Taqaddam bloc headed by Mohammed al-Halbousi and the establishment of a political front called the "Initiative" bloc.

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CcandyKisses:  After the assurances of OPEC Plus Oil prices rebound

BAGHDAD (Reuters) - Oil prices rose on Friday as assurances from OPEC Plus members Saudi Arabia and Russia indicated they were ready to halt or cancel production increases, but markets are heading for losses for the third week in a row.

Brent crude futures climbed two years to $79.89 a barrel, and U.S. West Texas Intermediate crude futures added four cents to $75.59.

Prices rose on Thursday when Saudi Arabia and Russia tried to reassure markets about production deals, but oil is on track to post losses for a third straight week.

The Organization of the Petroleum Exporting Countries and its allies, including Russia, have agreed to extend most output cuts until 2025, but have left open to eight members to phase out the voluntary cuts.

Saudi Energy Minister Prince Abdulaziz bin Salman said on Thursday that the OPEC+ alliance could halt or cancel production increases if it found the market was not strong enough. 

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Mot:  .. Say ! - Do You Have any Kids????

Mot: .... Ya Knows What They Says - What Goes aRound - Comes Around! 

Iraqi News Highlights and Points To Ponder Thursday Evening 6-6-24

Iraqi News Highlights and Points To Ponder Thursday Evening 6-6-24

Kurdish MP: The Region’s Share In The Budget Is Fair And We Are Happy To See It Passed

Policy  Al-Sumaria News – Politics   The representative of the Kurdistan Democratic Party bloc, Sharif Suleiman, described today, Thursday, the Kurdistan region’s share in the federal budget as “fair,” indicating that prior political agreements decided its passage.

Suleiman said in an interview with:  Alsumaria News  “The political agreement that occurred between the governments of the center and the region is the basis for agreeing on the region’s share of the budget amounting to 12.67%,” adding, “We are happy that there were no bidding or arguments regarding voting on the budget tables and the region’s share in them.”

He added, "The region's share in the budget tables is fair and not bad in light of the reality it is experiencing."Iraq", indicating, "We hope that the budget will be implemented in the correct manner agreed upon and that it will not be subject to political quarrels and bidding or be used as a pressure card."  LINK

An Economist Reveals The Positive Side Of The Budget

Economy   Information / Baghdad..   Today, Thursday, economic expert Dargham Muhammad Ali revealed the positives of the current year’s budget, which was approved by the House of Representatives a few days ago.

Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..

Ali told Al-Maalouma: “The criticisms raised about the budget are normal, but most of them are based on bias towards the governorates, or perhaps for electoral goals sometimes.”

He added, "The real face of the budget has many positives, including that it is different from previous budgets, as it represented the highest investment ceiling among previous budgets."

He pointed out, "Allocating financial benefits for the development road project, supporting the private industrial sector, and supporting many infrastructure projects that will contribute in one way or another to activating various economic activities that will benefit in the near future."

He continued: “The government’s adoption, for the first time, of the principle of diversifying the distribution of projects between the local administrations of the governorates and between the ministries, will reflect positively on the implementation of projects by creating an atmosphere of competition between the ministries and governorates, especially since the government granted the implementation of the ministries’ projects directly.”

He continued, "The budget was based on distributing the governorates' funds according to deprivation and not on the basis of the proportion of the population, and this will establish the basis for revitalizing the economy of the governorates that suffer from a lack of services and others." Ended / LINK

Abdel Wahid: The Region’s Budget Allocations Do Not Fit Its Reality, And The Smuggled Funds Are No Longer Mere “Frauds.”

Time: 06/05/2024 Read: 2,548 times  {Politics: Al-Furat News} The head of the New Generation Parliamentary Bloc, Sarwa Abdel Wahed, said that the region’s budget allocations do not fit its reality, while she believes that the smuggled funds that have returned are mere “fraud”.

Abdel Wahed said, during her hosting of the program {Free Speech} broadcast by Al-Furat satellite channel this evening, that: “

We voted as a new generation on the 2024 budget tables and we had observations regarding the region’s share on the basis of 3 governorates and not 4 {Sulaymaniyah, Dohuk, Erbil and Halabja}.”

- There is an article in the law that obligates the House of Representatives to vote on the budget without discussing it.

- The Kurdistan region’s budget allocations are not proportionate to the size of the region’s reality, but they are good for covering the salaries of the region’s employees.

- We are in favor of improving the governorates’ budgets, especially in Basra Governorate. 

- Not all objections are based on schedules The budget is in good shape, but there are those who want to exploit this situation.

- Some politicians defend the contracts of the region’s governorates for personal gain.

- The issue of appeals against the budget is natural, and the judiciary is the one who determines whether it is valid or not.

- We communicate our objection to all Shiite and Sunni leaders, and we are not responsible for the mistakes of others -

The Chairman of the Parliamentary Finance Committee did not attend the voting session on the budget schedules due to the lack of allocations for some governorates.

- The central and regional governments bear the responsibility of delaying the payment of employees’ salaries as well as the resettlement. 

- The current session of the House of Representatives is devoid of commitment to attending the sessions and their effectiveness and activity in legislating laws as a result of many problems and lack The harmony of the parties and the absence of Muhammad Al-Halbousi did not change the reality of Parliament.

The problem of resolving the position of Speaker of Parliament can be solved through settlement, as happened with the President of the Republic, in one session.

- What is returned to the state’s treasury of smuggled funds is merely “bankruptcy” relative to what was stolen, and no Iraqi institution has the right to withhold information from representatives, and the current session is witnessing a significant reduction in the follow-up of corruption files.

Prime Minister Muhammad Shiaa Al-Sudani is an honest person and he should be given a deadline to complete his work.

We transferred two documents containing suspicions of corruption related to Samarra medicines and the Ministry of Education to the Federal Integrity Commission and are awaiting investigations. Wafaa Al-Fatlawi  LINK

Economic Warning From The Basra-Aqaba Pipeline.. How Much Is Its Value?

Economy News – Baghdad  Today, Thursday, the economic expert, Hamza Al-Jawahiri, warned against the Basra-Aqaba oil pipeline project, and in what he described as a “Trojan horse” for normalization with Israel, he pointed to the value of its total cost.

Al-Jawahiri said, in an interview with Al-Iqtisad News, that “the Iraqi government is under intense pressure from America to implement the Basra-Aqaba oil pipeline project,” noting that “MPs must have a role in stopping the project because it represents the cornerstone of the so-called deal of the century.” In which the project will be a Trojan horse for normalization with Israel, which the people completely reject.”

He added, "The Basra-Aqaba oil pipeline and its annexes are projects that cost Iraq $28 billion and include the cost of building the line and Mustafa Oil to be established in Aqaba, along with a line that goes to Egypt to supply it with oil, in addition to building a port in Aqaba for export. All costs are borne by Iraq."

He pointed out, "Iraq bears all kinds of cruelty, especially since the line passes through Wadi Houran, which is considered a safe haven for ten thousand ISIS fighters," noting that "Iraq transports through it to Jordan 150,000 barrels of oil and 150,000 barrels to the refinery in Aqaba and a quantity of oil."

More than 300 thousand barrels per day to Egypt and Israel, while the line does not transport more than one million barrels to Jordan, meaning that Iraq will only export 400 thousand barrels per day to the world.

Al-Jawahiri stressed, “All the costs of building the line are paid by Iraq, as are the costs of operating the line, and it bears the cost of the oil’s passage through Jordan at the rate of two dollars and seventy cents per barrel.”

The economic expert stated, “When the oil is transported from the port of Aqaba, it will be in waters completely controlled by Israel, and if the latter creates any problem to impose normalization on Iraq, it will be forced to submit to its will, and thus the line will be a Trojan horse for normalization with the latter.” 06/06/2024 - https://economy-news.net/content.php?id=44066

Provoking Thoughts and Points To Ponder On Adversity:

Weeping may endure for a night, but joy cometh in the morning.  - Bible

Night brings our troubles to the light rather than banishes them. - Seneca

Too much happens ... Man performs, engenders so much more than he can or should have to bear. That's how he finds that he can bear anything.  - William Faulkner

A great man does not lose his self-possession when he is afflicted; the ocean is not made muddy by the falling in of its banks.  - Panchatantra

There are three modes of bearing the ills of life: by indifference, by philosophy and by religion. - Charles Caleb Colton

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Thursday Afternoon 6-6-24

Goldilocks' Comments and Global Economic News Thursday Afternoon 6-6-24

Good Evening Dinar Recaps,

Digital Currency Project Announcement:

Saudi Arabia joins China and UAE in digital currency project. The kingdom is joining the Switzerland-based Bank for International Settlements' central bank digital currency platform."

Saudi Arabia is the latest country to join this multi-country initiative utilizing wCBDC as a form of payment.

This announcement came on Wednesday as Saudi Arabia joined Project mBridge as a “full participant.” This means that Saudi Arabia will be moving to a wCBDC payment regimen joining many countries in the Eastern half of our world in payments through local currencies.

This will significantly minimize the use of the Petro Dollar if not completely over time. Currently, Saudi Arabia still services the United States along with China who uses the Petro Yuan to trade in oil agreements.

This will level the playing field a great deal in the use of currencies moving from a Petro Dollar regimen to wCBDC payment source. Remember, well over 80% of trade around the world is done on the water where exchange rate quotas and percentages are currently under pressure from new demands on local currencies to begin looking at resetting their prices.  Al-Monitor   State Gov

WATCH THE WATER.

© Goldilocks  

👆  Goldilocks pointed to this article

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The word is on the street and in the back rooms of the trading markets that the US may not lower interest rates until just before the election. We will see if we can wait that long.

The surrounding countries we trade with will put significant pressure on the dollar if we do not make this monetary policy change ourselves. It is important to note that these recent changes may not be permanent anyway, but it will give some breathing room for countries who need an opportunity to gather in more loans as we approach a Gold Standard Regimen.

Holding interest rates at higher levels will strengthen currencies as we approach a Gold Standard support system. Many countries are already making this shift into gold gradually, but the pace may soon pick up.

When you combine strong technical fundamentals with a real value through gold, it creates new movement in the opposite direction we are going at the present time.

Unless things change for the European Union, they are still planning on going to a Gold Standard Protocol January 1st, 2025. Countries will begin following suit in the process between now and then in preparing their countries for this change.

Gold will set us free!

© Goldilocks

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Silver Technical Scoop: Precious Benefit, Market Divergences | SilverSeek

Gold and silver have been taking a divergent path as of late, and it may do so until the end of July. This is normal, but the timing of this is impeccable.

A great deal of attention will be placed on transitioning this economy into digital assets. Gold and silver will have competitive asset classes to draw from these next two months, but they will merge together as the year goes on complimenting one another.

The merging of the traditional economy into a gold standard protocol through digital assets is the next move. Look for credit valuation judgments along the way to form new patterns of behavior on Market structures as they correlate their prices into a real value.

© Goldilocks

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ISO 20022 in bytes for payments: Supporting your CBPR+ readiness | Swift

Swift Announcement:

"The community continues to make steady progress with Global ISO 20022 adoption and with only 18 months to go until the end of coexistence, the daily average number of CBPR+ messages exchanged now exceeds one million.

At its March 2024 meeting, the Swift Board re-confirmed the community’s commitment to November 2025 as the end of the MT/ISO 20022 cross-border coexistence period, emphasizing that priority should be given to instruction messages to ensure operational continuity and ongoing interoperability."

This gives us ISO 20022 coverage through the Swift System until November 2025 when the Swift System gives way to the new digital messaging system.

Countries seeking to join the ISO 20022 messaging system have until November of 2025 to do so. Until then, Swift is extending itself as a bridge for countries needing to make this transition.

This does not mean that the transition of the new banking system has to wait until November 2025. It just means that the banking messaging system will be able to go ahead and transition as we wait for this date.

© Goldilocks

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Israel advances digital shekel initiative with new innovation challenge | Crypto Reporter

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Interest rates are likely headed down, at least in Europe | AP News

European Central Bank Announcement:

FRANKFURT, Germany (AP) — The European Central Bank cut its key interest rate Thursday by a quarter point, moving ahead of the U.S. Federal Reserve as central banks around the world lean toward lowering borrowing costs - a shift with far-reaching consequences for home buyers, savers and investors.

The ECB cut its benchmark rate to 3.75% from a record high of 4% at a meeting of the bank’s 26-member rate-setting council in Frankfurt.

The ECB said in a statement that “price pressures have weakened, and inflation expectations have declined at all horizons,” allowing it to start loosening credit.

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Bank of Canada cuts key interest rate to 4.75% | CBC News

The Bank of Canada announcement:

The Bank of Canada has lowered its key interest rate to 4.75 percent, marking the bank's first rate cut since March 2020.
Bank governor Tiff Macklem said in opening remarks that the bank's monetary policy no longer needs to be as restrictive.

"We've come a long way in the fight against inflation. And our confidence that inflation will continue to move closer to the two percent target has increased over recent months," Macklem said.

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SBV vows to fight Vietnam's goldization | SGGP English Edition

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Temenos and Mastercard join forces to expand cross-border payment capabilities through Mastercard Move | Morningstar

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The Unitas Protocol for emerging market currency stablecoin | Ledger Insights

Emerging Market Stablecoin Announcement:

Tether recently announced its funding of XREX, which targets emerging market trade payments. This spotlighted the Unitas Protocol for emerging market currency stablecoins, co-founded by Wayne Huang, XREX’s CEO.

Today stablecoins are dominated by dollars. It can be useful for SMEs to pay with local currencies as well. Hence, the aim is to provide stablecoins that match the unit of account in emerging economies.

The Unitas Protocol involves the issuance of individual currency stablecoins that are over-collateralized by US dollar stablecoins, a little reminiscent of MakerDAO’s DAI, but with some major differences.

While most fiat currency stablecoins are redeemable for the same currency, the Unitas Protocol aims to back emerging market currencies with US dollar stablecoins.

Provided Unitas gains traction, cryptocurrency exchanges will act as on- and off-ramps. Hence, even though a Unitas currency is redeemable for dollars, users may choose to exchange Unitas currencies directly for local currencies without necessarily needing to go the US dollar route. 

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Project mBridge reaches minimum viable product stage and invites further international participation | BIS

Private sector participants are invited to propose value-added solutions that can be connected to the mBridge MVP platform. 

More central banks and commercial banks can join the platform through the mBridge MVP legal framework and perform real transactions on it.

Project expands international cooperation with a new full member and observers.

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More details on Project Agorá—the plan to tokenize correspondent banking | CoinGeek

In April, the Bank for International Settlements (BIS) announced Project Agorá, a project in which seven central banks aim to transform cross-border payments via tokenization.

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Turning trash into a golden opportunity. | Youtube

👆 In the future, when someone says your house is a dump, there may be some truth to it. 😂

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Comparing IMF Economic Report to Iraq's Actual Plans | Youtube

👆  Goldilocks pointed to this video

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This report is showing us that the markets are contracting. | Youtube

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Iraq Economic News and Points To Ponder Thursday Afternoon 6-6-24

Iraq Economic News and Points To Ponder Thursday Afternoon 6-6-24

Plasschaert's Replacement Raises Controversy.. Who Is He?

Political |  06/06/2024  Baghdad - Mawazine News  Arab reports revealed today, Thursday, that the United Nations has nominated the permanent representative of the Sultanate of Oman, Mohammed bin Awad, to fill the position of head of the UN mission in Iraq.

This comes after the UN Security Council unanimously approved ending the United Nations political mission in Iraq, and ending the duties of the head of the mission in Iraq, Jeanine Plasschaert.

A report by the Emirati network Eram, followed by Mawazine News, said, “There are some unnamed political parties that had reservations about the candidate, Muhammad bin Awad, and demanded that the United Nations bring in a foreign, non-Arab person for this position,” without disclosing the reasons for the rejection.

The Iraqi government had asked the Council, in a letter dated May 8, to end the mission of the United Nations Mission in Iraq at the latest by the end of 2025.

According to this request, the UN Security Council voted unanimously, last Friday, to end the United Nations mission in Iraq, which was established In 2003, which aimed to coordinate humanitarian efforts and post-war reconstruction efforts.

According to the resolution, the United Nations extended the mandate of the United Nations Assistance Mission for Iraq (UNAMI) for 19 months until December 31, 2025, and then developed a “transition and liquidation plan” in consultation with the Iraqi government to transfer its tasks and withdraw employees and assets.   https://www.mawazin.net/Details.aspx?jimare=249264

Despite Its Rise Internationally... Basra Oil Prices Fell

Economy | 02:46 - 06/06/2024  The prices of Basra Heavy and Medium Crude oil fell on Thursday, despite the rise witnessed in the international market.

Basra Heavy crude prices fell by 36 cents to reach $76.08, and Basra Medium crude prices fell by 36 cents to reach $79.03, according to economic media.

Global oil prices rose amid growing expectations that the Federal Reserve (the US central bank) will cut interest rates next September, despite curbing prices against the backdrop of rising US inventories and the OPEC+ alliance’s plan to increase supplies.  https://www.mawazin.net/Details.aspx?jimare=249262

The Central Bank Sells More Than $275 Million At Auction Today

Economy | 01:54 - 06/06/2024  Baghdad - Mawazine News  The Iraqi Bank’s dollar sales amounted to more than 275 million dollars today, Thursday, in the currency auction.

In its auction today, the bank sold 275 million and 66 thousand and 650 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,305 dinars per dollar in cash.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 253 million 556 thousand and 650 dollars, an increase of 92% over cash sales amounting to 21 million 510 thousand dollars.   https://www.mawazin.net/Details.aspx?jimare=249254

Dollar Prices Are Rising In Local Markets

Economy | - 06/06/2024   The dollar exchange rates rose today, Thursday, in the local markets in the capital, Baghdad.

Prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 145,750 Iraqi dinars for every 100 dollars, while yesterday, Wednesday, prices recorded 145,500 dinars for every 100 dollars.

While selling prices in banking shops in local markets in Baghdad rose, the selling price reached 146,750 dinars, while the purchasing price reached 144,750 dinars for every 100 dollars. https://www.mawazin.net/Details.aspx?jimare=249256

It Includes 4 Stages.. The Ministry Of Interior Determines The Impact Of Digital Transformation On Citizens

money and business  Economy News – Baghdad  The Ministry of Interior announced today, Thursday, that managing the digital transformation file includes 4 stages, while indicating that digital transformation has reduced the burden on citizens and removed the similarity of names to controls.

Director of the Information Systems Directorate in the Ministry, Thamer Al-Amiri, said: “Managing the digital transformation file in the Ministry of Interior includes several stages, building the ministry’s own systems and managing strategic projects, including the passport project and the visa project, as well as the electronic gates at airports as well as the digital data center.”

He explained, "These projects led to reducing the burden on the citizen and removing the similarity of names in the detention centers, as a special system was launched to investigate and measure the efficiency of implementing arrest warrants at the state level."

He added, "We contributed to tracking the crime, by quickly sharing information between the security services and providing communications to facilitate the tracking of terrorism, as well as the presence of cameras and the preparation of special studies in this regard." 120 views  Added 06/06/2024 - https://economy-news.net/content.php?id=44078

Canadian Foreign Ministry: We Will Reduce Our Diplomatic Presence In Iraq In 2025

Thursday 06, June 2024 20:13 | Political Number of readings: 107  Baghdad / NINA / The Canadian Ministry of Foreign Affairs announced its intention to reduce its diplomatic presence in Iraq, after the end of its country’s strategy to confront the threat of ISIS in the coming year.

A Canadian Foreign Ministry spokesperson told the Kurdish media network Rudaw: “Canada’s Middle East strategy, which was originally created to confront the direct threat posed by ISIS in Iraq and Syria, and its effects on neighboring countries Lebanon and Jordan, will end in March 2025.”

The spokesman added, "When the strategy ends, Canada's diplomatic presence in Jordan and Iraq will be reduced, and our office in Erbil in the Kurdistan region will be closed."

He stressed that Canadian embassy officials in Iraq will “actively” maintain regular communication with officials and people in the Kurdistan region.

A Canadian Foreign Ministry spokesman explained that these changes are consistent with the process of refocusing government spending, indicating that in the 2023 budget, the Canadian government committed to reducing spending by $14.1 billion over the next five years, starting from 2023-2024.

Canada is a member of the US-led international coalition against ISIS, which was formed in 2014 after the organization took control of large areas of Syrian and Iraqi territory./End 9 https://ninanews.com/Website/News/Details?key=1131079

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

Weeping may endure for a night, but joy cometh in the morning.  - Bible

Night brings our troubles to the light rather than banishes them. - Seneca

Too much happens ... Man performs, engenders so much more than he can or should have to bear. That's how he finds that he can bear anything.  - William Faulkner

A great man does not lose his self-possession when he is afflicted; the ocean is not made muddy by the falling in of its banks.  - Panchatantra

I've had an unhappy life, thank God.  - Russell Baker

Do not show your wounded finger, for everything will knock up against it.  - Baltasar Gracian

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html  

Some “BRIC’s News” Thursday 6-6-2024

Breaking! 97 Countries Coming To Attend BRICS 2024 In Russia!

We Love Africa:  6-5-2024

97 Countries Prepare To Attend BRICS 2024 in June in Russia

A total of 97 countries have confirmed their presence in the BRICS 2024 Games in June this month. The event will be hosted by Russian President Vladimir Putin in the Kazan region between June 12 to 24.

“97 countries had already confirmed their participation,” said Russia’s Prime Minister Dmitry Chernyshenko. The minister added that the BRICS 2024 Games are an integral part of the development of the country.

“The BRICS Games 2024, which were ordered to be organized following the decree of the Russian President Vladimir Putin, are an important part of our country’s chairmanship in this organization,” he said.

He added that all eyes will be on the BRICS Games in 2024. “The upcoming tournament must be organized at the highest possible level,” he said. The sporting event will host 20 different sports with 97 countries participating in Russia.

Apart from the 97 countries that are participating in the BRICS Games 2024, more than 40 nations are also looking to join the alliance.

 In 2024 alone, seven new countries have expressed their interest and submitted formal applications to enter the bloc.

The 16th BRICS summit will also be held in Russia’s Kazan region in October this year. The alliance will decide on the prospects of the applications in the upcoming BRICS summit.

All decisions will be taken on a consensus basis after weighing the pros and cons of a particular application.

 BRICS is the only bloc that is looking to end reliance on the US dollar and push local currencies for cross-border transactions.

https://www.youtube.com/watch?v=29_95n4Xfeg

BRICS IS EXPANDING: Turkey, a NATO Member, Announces Plans to Join BRICS Bloc in 2024

Lena Petrova:  6-5-2024

https://www.youtube.com/watch?v=mUaZsvxZmYE

“Tidbits From TNT” Thursday 6-6-2024

TNT:

CandyKisses: Land Acquired for $1.5bn Baghdad Golf Development

Arabian Business reports that Abu Dhabi-based property developer Eagle Hills has bought land in Baghdad for a $1.5-billion golf real estate project.

It says the Baghdad Golf Course and Spa will feature a world-class golf course, high-end residential neighbourhoods, a five-star hotel, and an exclusive resort club.

Eagle Hills was founded by Mohamed Alabbar, who also founded Emaar Properties, which developed projects such as the Burj Khalifa and the Dubai Mall.

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CandyKisses: Will employees' salaries be released before Eid al-Adha?

Baghdad Today - Baghdad

An official source in the Iraqi Ministry of Finance revealed today, Wednesday (June 5, 2024), the possibility of distributing the salaries of employees before Eid al-Adha.

The source told "Baghdad Today" that "there is no trend so far regarding the distribution of salaries of Iraqi state employees before Eid al-Adha, corresponding to (16) June."

He added that "the salaries of employees as well as retirees will be paid during the current month, on their normal date without any submission to do so, so there is no decision to do so by the Prime Minister or the Minister of Finance."

The Iraqi government was often accustomed to paying the salaries of state employees before the holidays if the holidays coincided with the last days of the month, or if the date of payment of salaries coincided in the middle of the holidays, which prompted the government to pay salaries a day or two before their date.

However, Eid al-Adha will start between 16 and 17 and end between 19 and 20, and the official working hours begin on Sunday, June 23, before the official salary date.

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CandyKisses:  Iraqi-Saudi-Kuwaiti discussions in Riyadh

Shafaq News/ The Saudi capital hosted discussions that brought together Saudi Foreign Minister Prince Faisal bin Farhan, Iraqi Fuad Hussein, and Kuwaiti Abdullah Ali Al-Yahya.

The Saudi Foreign Ministry stated in a statement on the “X” platform that during the discussions, “ways were discussed to enhance and develop aspects of cooperation in many fields,” and “the ministers also touched on the importance of intensifying bilateral and multilateral coordination on issues of common interest.”

The meeting comes days after Prince Faisal bin Farhan met with Abdullah Al-Yahya in Kuwait, last Sunday, and issued an announcement about the outcomes of the second meeting of the Saudi-Kuwaiti Coordination Council.

The announcement said at the time that the two sides stressed “the importance of cooperation in the political fields and joint coordination at all bilateral, regional and international levels, and the crystallization of positions in a way that serves the common interests of the two sides, and in a way that brings security and stability to the two countries, their peoples, and the peoples of the region,” according to the Saudi Press Agency (SPA).

The last meeting between the Saudi Foreign Minister and his Iraqi counterpart was in the Chinese capital, Beijing, at the end of last May.

During the Beijing meeting, “ways to strengthen and develop relations in various fields were reviewed, in addition to discussing the latest developments in issues on the regional and international arenas, most notably the developments in the Gaza Strip and its surroundings and the efforts made in this regard,” according to SPA.

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CandyKisses: President Rashid: Iran is a very important neighbor of Iraq and our relationship with it is good and strong

Baghdad Today - Baghdad

On Thursday (June 6, 2024), the President of the Republic, Abdul Latif Jamal Rashid, promised the Republic of Iran that it is a very important neighbor of Iraq, while noting that Iraq's relationship with it is good and strong.

Rashid said in a television interview followed by "Baghdad Today," that "Iraq has witnessed a remarkable transformation since the end of the hot phase of violence and terrorism," noting that "the country is currently witnessing security stability, peace and security in Iraq has become a reality now."

"The international community has a duty to exert more pressure to recognize the right of Palestinians to self-determination." , stressing "the need to stop the genocide committed every day against the Palestinian people."

He pointed out that "the relationship between the federal government and the Kurdistan Regional Government is full cooperation."

"Iran is a very important neighbor of Iraq and our relationship with it is good and strong and is being developed continuously in various fields," he said.

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Mot: Can YOu Believe its only ~~~

Mot: . Just Saying Ya Knows!!! Barbeque

Iraq Economic News and Points To Ponder Late Wednesday Evening 6-5-24

Iraq Economic News and Points To Ponder Late Wednesday Evening  6-5-24

Fintech In Iraq: How Is Iraq Reshaping Its Financial Future?

Time: 06/05/2024 Read: 1,248 times  {Economic: Al-Furat News} Financial technology (FinTech) has become a major driver of innovation in the global banking sector, providing innovative solutions to facilitate financial services and increase their efficiency.

In Iraq, banks have begun to adopt these technologies, which has contributed to improving customer experience and expanding the scope of financial services provided. The Iraqi Deposit Insurance Company plays an important role in supporting this trend, as it is a pillar of financial stability, by encouraging banks to adopt financial technology and providing a regulatory environment supportive of innovation.

Financial technology has demonstrated its ability to enhance financial inclusion in Iraq, as it can provide affordable and accessible financial services to wide segments of society, especially in remote and rural areas.

Through mobile applications and online banking, individuals and businesses can access a variety of financial services, such as money transfers, paying bills, and obtaining loans, without having to visit bank branches.

The Iraqi Deposit Insurance Company is working to enhance the use of financial technology in Iraq, through cooperation with banks and financial technology companies to develop innovative solutions that meet the needs of the Iraqi market. The company is also working to provide the necessary regulatory framework to ensure the security and safety of digital financial services, and to protect consumer rights.  LINK

Dollar Prices Decline In Baghdad

Economy |  06/05/2024   The dollar exchange rates decreased today, Wednesday, in the markets of the capital, Baghdad.

Dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 145,500 Iraqi dinars for every 100 dollars, while yesterday, Tuesday, prices recorded 145,850 dinars for every 100 dollars.

While selling prices also decreased in banking shops in local markets in Baghdad, as the selling price reached 146,500 dinars, while the purchasing price reached 144,500 dinars for every 100 dollars. https://www.mawazin.net/Details.aspx?jimare=249179

Oil Prices Continue To Decline Amid The Increase In US Crude And Fuel

Energy  Economy News _ Baghdad  Oil prices extended losses in early Asian trading on Wednesday, after a report showed an increase in US crude and fuel inventories, raising concerns about demand growth.

Brent crude futures fell 14 cents, or 0.2 percent, to $77.38 per barrel by 0005 GMT. US West Texas Intermediate crude futures also fell 18 cents, or 0.3 percent, to $73.07 per barrel.

Both contracts fell about a dollar in yesterday's session on Tuesday and about three dollars a barrel on Monday, under pressure from the OPEC+ coalition announcing plans to increase supplies starting in October, despite recent indications of weak demand growth.

Data from the American Petroleum Institute showed that stocks of crude oil, gasoline and distillates in the United States rose last week. High inventories are usually a sign that supplies are exceeding demand.

Figures from the American Petroleum Institute showed that crude inventories rose by more than four million barrels in the week ending May 31, compared to analysts’ expectations of a decline of 2.3 million barrels in a Reuters poll.

Gasoline stocks also rose by more than four million barrels, which is much more than the two million barrel increase that analysts expected.

The US Energy Information Administration will publish official inventory data on Wednesday at 14:30 GMT.  Views 105 06/05/2024 - https://economy-news.net/content.php?id=44028

Iraq's Foreign Loans Decreased To $9 Billion

Economy | 03:15 - 06/05/2024  Baghdad - Mawazine News  The Iraqi government announced, today, Wednesday, that the value of foreign loans to Iraq decreased to about 9 billion dollars, after canceling about 31 loans from 2003 until the end of last year 2023.

The technical advisor to the Prime Minister, Muhammad Sahib Al-Daraji, said on the sidelines of an economic forum He resides in Baghdad and was followed by Mawazine News.

He said, “A specialized committee has been formed to reveal the amounts borrowed by Iraq from 2003 to the end of 2023, and to track the fate of this money and the projects that were completed thanks to these loans, and which are still under completion, and what are the faltering projects among them?” ".

He added, "Iraq was able to cancel about 31 external loans, leaving those loans worth 8 billion and 900 million dollars remaining," explaining that "these efforts aim to enhance transparency and monitor public spending, and ensure that loans are directed towards vital projects that contribute to developing the infrastructure." Infrastructure and basic services in the country.

He stressed that "the committee will continue its work to follow up on the use of the borrowed funds and ensure that the desired goals are achieved." https://www.mawazin.net/Details.aspx?jimare=249201

Central Bank Sales Exceed $272 Million Today

Wednesday 05, June 2024 14:49 | Economical Number of readings: 210

Baghdad / NINA / The Central Bank of Iraq announced, today, Wednesday, its total sales of foreign currency through the electronic window.

The window recorded the total amounts of transfers abroad (remittances, credits) at $249,648,467, while the total amount of cash sales amounted to $22,830,000, and the total amount of sales amounted to $272,478,467.

The cash sale price was set at 1,305 dinars to the dollar, while the bond credits, international settlements for the electronic card, and foreign transfers were set at 1,310 dinars to the dollar. / https://ninanews.com/Website/News/Details?key=1130820

Al-Sudani sponsors the signing of a cooperation agreement between the Trade Bank of Iraq (TBI) and the German Export Credit Corporation

Wednesday 05, June 2024 11:33 | Economical Number of readings: 521

Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani sponsored the signing of a cooperation agreement between the Trade Bank of Iraq (TBI) and the German Export Credit Corporation, to finance private sector development projects within the government’s sovereign guarantees initiative./End 9 https://ninanews.com/Website/News/Details?key=1130785

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

An earthquake achieves what the law promises but does not in practice maintain - the equality of all men. - Ignazio Silone

I don't deserve this award, but I have arthritis and I don't deserve that either. - Jack Benny

I have an inward treasure born within me, which can keep me alive if all the extraneous delights should be withheld; or offered only at a price I cannot afford. - Charlotte Bronte

Nothing is more desirable than to be released from an affliction, but nothing is more frightening than to be divested of a crutch. - James Baldwin

People don't ever seem to realize that doing what's right is no guarantee against misfortune. - William McFee

The struggle to the top is in itself enough to fulfill the human heart. Sisyphus should be regarded as happy.  - Albert Camus

There are three modes of bearing the ills of life: by indifference, by philosophy and by religion. - Charles Caleb Colton

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Wednesday Evening 6-5-24

Goldilocks' Comments and Global Economic News Wednesday Evening 6-5-24

Good evening Dinar Recaps,

NEW YORK, N.Y. — "The Commodity Futures Trading Commission’s Global Markets Advisory Committee (GMAC), sponsored by CFTC Commissioner Caroline D. Pham, advanced two recommendations to examine the impacts of proposed U.S. bank capital requirements and to improve collateral and liquidity management for non-centrally cleared derivatives." | CFTC

Recommendations:

1. Global Market Structure Subcommittee Recommendation – "Report on the Impact of the US Bank Capital Proposals on End-Users that Rely on Cleared Derivatives Markets"

This first recommendation deals with Capital Requirements and corresponding collateral that is put up to ensure that both sides of a trade moves through the system.

In many cases, this will represent gold for large transactions inside of large foreign currency exchanges.

The London Clearing House and the Chicago Mercantile Exchange are two examples of Clearing Houses that will process our transactions.

2. Technical Issues Subcommittee   Recommendation – "Variation Margin Processes in Non-Centrally Cleared Markets"

Non-centrally cleared markets happen in markets where transactions are moved through the system without the involvement of a central counterparty or custodian.

Examples of non-centrally cleared markets include:

* Non-centrally cleared bilateral repo (NCCBR) market

This concept deals with credit given on both sides of a trade to execute the process allowing a trade to go forward.

* Non-centrally cleared derivatives (NCCDs)

And, this concept deals with clearing derivative product details such as interest rates, foreign exchange trades, credit, commodity, and Equity trades.

On the new Digital Asset Based Trading System, Smart Derivative Contract Clearing can now be done through digital mechanisms capable of processing these informational data points at the touch of a button.

Here, we have Gold and Technology merging into synchronized partnerships designed to clear a market transaction or a banking portfolio with a few strokes of a keyboard.   CFTC

© Goldilocks

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Instant Cross-Border Payments Announcement:

"The BIS unveiled Project Rialto (https://www.bis.org/about/bisih/topics/cbdc/rialto.htm) a new foreign exchange (FX) module looking to improve FX settlement for instant cross border payments. It will use wholesale central bank digital currencies (wholesale CBDC) as the settlement asset. The FX module could be used as an add on for solutions that interlink instant payment solutions, such as Project Nexus, or as part of a digital asset settlement solution."

Wholesale CBDC will be utilized in foreign currency exchanges. I know many of you will have a question about this procedure, so I looked into it a little bit further to give you the following sentence. Once your funds reach your personal banking account, it does not transition into Retail CBDC.

A retail CBDC is for general public use, and wholesale CBDC is for the banking system to utilize. It remains to be seen at what level we will see a retail CBDC if at all. If retail CBDC is adopted, the public has made it known that the government is going to have to continue working on the privacy issue. Time will tell on this one.   BIS   Ledger Insights   World Economic Forum

© Goldilocks

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Deutsche Bank has joined the Monetary Authority of Singapore’s (MAS) Project Guardian (as part of the asset and wealth management workstream). The collaborative initiative is dedicated to testing the feasibility of asset tokenization applications in regulated financial markets. | The Tokenizer

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Tokenized Exotic RWAs Are Piquing Investor Interest | Forbes

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The U.S. Faster Payments Council (FPC) has recognized Ripple among companies like Visa and Mastercard set to compete for dominance in currency conversion for digital assets. | The Crypto To Basic

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France’s prudential regulator advances work on certification of smart contracts | Ledger Insights

As part of a speech (https://www.banque-france.fr/en/governors-interventions/future-money-regulatory-and-policy-issues-related-introduction-cbdcs) earlier this week, the First Deputy Governor of the Banque de France (https://www.banque-france.fr/), Denis Beau, revealed that the ACPR is working with the industry to certify smart contracts. The Autorité de Contrôle Prudentiel et de Résolution, ACPR, is the prudential regulatory arm of the central bank.

“Work is continuing in 2024 with stakeholders on one of the ACPR’s key proposals, namely the mandatory certification of smart contracts prior to their use,” he said. Mr Beau noted that early French crypto-asset regulations had heavily influenced the MiCA regulations.

Last April the ACPR shared some proposals on the possibility of regulating DeFi. They fell into three buckets:
* Security standards for private DLTs and public blockchains
* Certifying smart contracts
* Regulating DeFi entry points such as websites.

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Can Ripple take over SWIFT? While Ripple might have the potential to take over SWIFT, it is also possible that SWIFT might leverage its considerable resources and reputation and pivot its services to include blockchain technology in some format. | Daily Coin

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Bretton Woods 3 - New World Monetary Order | Youtube 

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5 yr projections | US Debt Clock

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"Tokenization can leverage the efficiency and transparency of blockchains to help modernize U.S. markets." | Twitter

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UAE Central Bank Approves Stablecoin Licensing – CryptoMode

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“Iraq to Start Mining Bitcoin with UAE on Nation-State Level” | Youtube

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