Goldilocks' Comments and Global Economic News Tuesday Evening 6-11-24

Goldilocks' Comments and Global Economic News Tuesday Evening 6-11-24

Good Evening Dinar Recaps,

"Project mBridge continues its development and has reached the minimum viable product (MVP) stage, while broadening its international reach."

This project has reached its minimum requirements that will allow it to work with early adopters on this Digital Ledger Technology enabling instant payments through cross-border International (CBDC) trades. This system will allow foreign currency exchanges through local currencies.

There are now over 26 observing members and Saudi Arabia has just recently joined as a full participant. This DLT will allow payments to be settled in local currencies of those who are early adopters of this new digital payment system.

"Project mBridge is the result of extensive collaboration “starting in 2021 between the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People’s Bank of China, and the Hong Kong Monetary Authority.”

In 2022, real value transactions took place on a pilot program and were successful. This project has been coordinated with the Bank of International Settlements, and it is expected to be available by mid-2024.

Since mbridge has reached its minimum viable product stage, it is now able to invite the International community to begin interfacing onto this section of the QFS.

© Goldilocks
Crowdfund Insider

As of June 2024, the observing members to Project mBridge include: Asian Infrastructure Investment Bank, Bangko Sentral ng Pilipinas; Bank Indonesia; Bank of France; Bank of Israel; Bank of Italy; Bank of Korea; Bank of Namibia; Central Bank of Bahrain; Central Bank of Chile; Central Bank of Egypt; Central Bank of Jordan; Central Bank of Malaysia; Central Bank of Nepal; Central Bank of Norway; Central Bank of the Republic of Türkiye; European Central Bank; International Monetary Fund; Magyar Nemzeti Bank; National Bank of Cambodia; National Bank of Georgia; National Bank of Kazakhstan; New York Innovation Centre, Federal Reserve Bank of New York; Reserve Bank of Australia; South African Reserve Bank; and World Bank.   BIS   Ledger Insights   Product Plan

~~~~~~~~~

According to this report, supply and demand issues in trade are currently in an imbalanced state. The demand for goods and services has steadily grown since the Covid-19 pandemic, and first quarter numbers show a significant growth for the United States and for China. Yet, we are not out of the woods, and supply and demand need to be brought into equilibrium.

High demand is good for traders, and it looks good on the Markets. It is the supply side that is lacking at the present moment due to inflated prices on goods and services. In order to balance the economy and make it grow steadily and forward, there needs to be more attention on moving the products across the country. This will increase money flow and demands on our Stablecoins that in turn gives more purchasing power to our currencies.

Here is where monetary policies come into play. As we move into a tokenized asset and gold token regimen for payment, this will stimulate the process of deflating the economy. A shift in interest rate reduction or remaining steady will give our suppliers liquidity capable of catching up to the demands of companies across the United States and China. 

We are at a wait-and-see approach on the FOMC meeting. The changes made at this meeting and the next one are critical to the transition of our economy and it's moving back into profitable status. Supply Chain Brain Investopedia

WATCH THE WATER.

© Goldilocks

~~~~~~~~~

When will the next fed rate cut be? Look ahead to future FOMC meetings | Investopedia
~~~~~~~~~

Mastercard Launches Open Banking Solutions in Partnership With Atomic to ‘Enhance User Experiences’ |  The Fintech Times

Payments giant Mastercard has integrated Deposit Switch and Bill Pay Switch into its open banking platform, in a move that enables consumers to automatically switch their direct deposits and update their recurring bill payments, when opening a digital account or when updating information on an existing account.

~~~~~~~~~

XRP COULD BECOME THE WORLD'S RESERVE CURRENCY - RIPPLE XRP NEWS | Youtube

~~~~~~~~~

Iraq Seeks $2.5 Billion Missile System from South Korea #iqd #vnd #htg #ZiG Rates | Youtube

~~~~~~~~~

Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements | Coin Trust

~~~~~~~~~

Italian Banking Association trials two styles of wholesale CBDC - Ledger Insights - blockchain for enterprise

~~~~~~~~~

Fidelity Intl tokenizes fund on JPM Tokenized Collateral Network - Ledger Insights - blockchain for enterprise

~~~~~~~~~

Solar-Powered Planes Are Ready to Take Off (And Fly for Months at a Time) - WSJ

~~~~~~~~~

BREAKING NEWS:

Apple unveils "tap to pay" between iPhones! 📲

Apple is interconnected with Ripple's Interledger Protocol! 🤝🏼

All the roads lead to one destination and the destination is called #XRP 💎  Crypto Barbie on Twitter

~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline 

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Iraq News Highlights and Points To Ponder Tuesday Afternoon 6-11-24

Iraq News Highlights and Points To Ponder Tuesday Afternoon 6-11-24

Parliamentarian: The Basra-Aqaba Oil Pipeline Does Not Achieve Economic Feasibility For Iraq

Economy   Information/Baghdad..  On Tuesday, the representative of Basra Governorate, Rafiq Al-Salhi, considered the agreement to extend the oil pipeline from Basra to the Jordanian port of Aqaba as a failed project that does not achieve any economic benefit for Iraq, and the only beneficiary from it is the Jordanian side.

Al-Salhi said in a statement to the Al-Ma’louma Agency, “The project to extend an oil pipeline from Basra to Aqaba is a failed project and will cost the country large sums of money because it has no economic benefit for Iraq and the only beneficiary is the Jordanian side.”

He added, "The shipping and pumping costs operations will drain large amounts of money and costs compared to exporting it from the ports of Basra, as the cost of exporting one barrel from the ports of Basra is estimated at 6 cents, while the cost of a barrel from the port of Aqaba exceeds four dollars. This is a waste of money, in addition to its security risks related to protecting... Pipeline from terrorism or international targeting.”

Al-Salhi pointed out that "the project faces widespread criticism from oil specialists, so we categorically refuse to initiate the project now or in the future."

It is noteworthy that the Basra-Aqaba oil pipeline project is a proposed project to transport crude oil from the Rumaila field, in southern Iraq, to ​​Aqaba, in southern Jordan. Its length is 1,700 km. LINK

After Returning It For The Purpose Of Auditing...The Iraqi Facts Address Parliament To Send The Budget Schedules

Shafaq News/ Ministry of Justice spokesman, Ahmed Laibi, said on Tuesday that the Iraqi Facts Department addressed the House of Representatives with an official letter in order to send the schedules of the Federal Financial Budget Law for the year 2024 in order to publish them in the Official Gazette.

Laibi explained in a statement to Shafaq News Agency, that there are communications between the Facts Department and the House of Representatives to complete the procedures and publish the budget tables in the Iraqi Facts newspaper.

For his part, a parliamentary source told the agency that this measure comes after the Real Estate Department returned the budget law schedules to the House of Representatives for the purpose of scrutinizing some articles and paragraphs of the law, but the House was late in sending them again.

The source added that the Council must return the budget law schedules before the end of this week and the Eid al-Adha holiday to avoid further delays.

At the beginning of last May, the Iraqi Council of Representatives voted on the budget schedules for the current year, 2024.

The budget included securing scholarships for university and school students, and increasing employee allocations by 4 trillion to secure the salaries of employees, new appointees, and retirees, and implementing the terms of contracts, appointments, and those whose contracts were terminated.

It also included allocating an amount of one trillion and 250 billion dinars to secure the increase in retirees' salaries, and allocations for disbursing end-of-service rewards to civilian and military retirees.

As well as increasing social welfare allocations to include more than 650,000 new families, increasing the capital of the Real Estate Bank by 500 billion dinars to cover citizens’ lending requests for housing, and allocating an amount of 5 trillion dinars to secure farmers’ entitlements to purchase wheat and barley crops.

At the beginning of this June, a member of the Parliamentary Finance Committee, Jamal Cougar, revealed an important step towards approving Iraq’s budget for the current year.

Koçer told Shafaq News Agency at the time that the House of Representatives voted on the budget law schedules and sent them in an official letter to the Ministry of Justice for the purpose of publishing them in the Iraqi newspaper Al-Waqe’i.

He stated that the budget schedules do not need to be approved by the Presidency of the Republic, given that Parliament voted last year on the three-year budget law.

He added that after publishing the budget tables in the Official Gazette, the Ministry of Finance and the Ministry of Planning will disburse operational and investment expenses, allocations and financial dues to ministries, institutions, bodies and government agencies, in addition to disbursing the governorates’ dues as specified in the budget tables.  LINK

Al-Muttalabi: The 2024 Budget Was Fair To The Ministries At The Expense Of The Provinces

Policy  Information / Baghdad...  The former member of the Baghdad Provincial Council, Saad Al-Muttalabi, confirmed on Tuesday that there was an imbalance in directing budgets towards ministries instead of directing them towards local governments as they are concerned with service projects in their areas.

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

Al-Muttalabi told Al-Maalouma Agency, “The ministries’ projects differ from the governorate’s projects, which is considered a local administrative unit that has its direct needs from the municipal directorates spread throughout the regions.”

He added, "Each municipality affiliated with the governorate has its own projects, needs, and plan, and they are presented to the advisory and engineering body in the governorate to be studied and drawn up. Its plan is sent to the Ministries of Planning and Finance, where the sent plan includes realistic solutions for the area in question, while the ministry does not look at such matters, but rather works." According to a federal strategic plan.

He stated, "It is a mistake for the budget to be directed to the ministries and the governorates and their projects and service plans are ignored. In addition, it is considered a constitutional flaw, as the projects must be primarily local, with the exception of security." LINK

After OPEC's Decision To Reduce Cuts... Iraq Increases Its Production By 40 Thousand Barrels Per Day

Energy   Economy News _ Baghdad   Iraq increased its production by 40,000 barrels per day during the month of May, after OPEC’s decision to reduce cuts, according to a survey conducted by S&P Global Commodity Insights on June 10.

The nine OPEC members subject to quotas boosted crude oil production by 100,000 bpd in May, led by Nigeria and Iraq, pushing the group 320,000 bpd above their collective targets, while the bloc's allies led by Russia cut production.

Iraq increased its production by 40,000 barrels per day to reach 4.28 million barrels per day, which is 280,000 barrels per day more than its current target, despite its agreement in May to compensate for the surplus production. The Platts survey estimates current oil production in the Kurdistan Region of Iraq at 210,000 barrels per day.

Iraq's production reached 4.28 million barrels per day, up from the previous month, which reached 4.24 million barrels per day.  Views 36  06/11/2024 - https://economy-news.net/content.php?id=44222

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

Some “BRICS News” Tuesday 6-11-2024

42 Countries Joining BRICS: What Next

Fastepo:  6-10-2024

Delegates from 22 countries are gathering for the BRICS foreign ministers meeting in Nizhny Novgorod, Russia, taking place on June 10 and 11, 2024.

This significant event and one of the largest ones in BRICS history is set to discuss various topics related to global economic governance, multilateralism, and the ongoing development of BRICS cooperation.

This represents another step towards the further expansion of the BRICS bloc in the near future.

https://www.youtube.com/watch?v=CkCrb1T227M

BRICS Beyond Borders: Dedollarization, Common Currency, and Global Expansion

Think BRICS:  6-11-2024

Discover the latest BRICS news and developments in financial matters, expansion, and cooperation. In this insightful video, Clive Ettia from Think BRICS and Rhod Mackenzie from @SCOBRICSInsight discuss pivotal topics such as dedollarization, BRICS common currency, and digital currency initiatives. In the opening segment, we dive into Russia's push for dedollarization in Latin America trade.

Understand the geopolitical implications and the benefits and challenges this brings to Latin American countries. We then explore the broader BRICS strategy for economic sovereignty and mitigating dollar dependency.

Next, we cover the ambitious move towards a BRICS common currency. Learn about the feasibility, timeline, and potential economic and political implications of this initiative. We compare it with digital currency projects involving Saudi Arabia, China, and the UAE, highlighting how these efforts align with BRICS' financial sovereignty goals and global trade strategies.

We also touch upon regional security issues, focusing on the tensions in the Horn of Africa over a naval base in Somaliland. This discussion outlines the strategic importance of the region, BRICS interests in Africa, and potential diplomatic solutions. Lastly, the video reviews the recent BRICS Foreign Ministers' meeting in Nizhny Novgorod, discussing strategic alignments and the growing influence of BRICS.

With around 30 countries showing interest in joining or cooperating with BRICS, we analyze the strategic advantages and the future growth potential of this powerful alliance.

While this video provides an in-depth analysis of BRICS financial matters, expansion, cooperation, and the specific geopolitical and economic implications of de-dollarization and a common currency, it does not cover the technical details of implementing a BRICS digital currency or the exact strategies behind each country's involvement in these initiatives.

The discussion on regional security and naval base conflicts in the Horn of Africa is thorough, but it does not delve into the specific military strategies or detailed political negotiations taking place behind the scenes.

https://www.youtube.com/watch?v=fWW_Sd-X6b4

“Tidbits From TNT” Tuesday 6-11-2024

TNT:

Tishwash:  Al-Sudani will visit Jordan tomorrow, Tuesday

A government source revealed today, Monday (June 10, 2024), that Prime Minister Muhammad Shiaa Al-Sudani will visit Jordan tomorrow, Tuesday.

The source told "Baghdad Today" that the Sudanese "will pay a visit to Jordan tomorrow, Tuesday, at the head of a high-ranking government delegation."

He pointed out that "the visit will discuss a number of security and economic files and developments in the region."  link

************

Tishwasj: Iraq expects to reach an agreement to resume oil exports through Türkiye within days

The Iraqi government expects to soon reach a final agreement with the Kurdistan region and international oil companies there, to resume oil exports, according to what Bloomberg reported.

The Iraqi Oil Minister, Hayyan Abdul-Ghani, said in a televised interview on the government “Al-Iraqiya” channel, “There is progress in these negotiations, and we hope that we will reach, within the next few days, a final understanding in this regard.”

He added that the Iraqi Ministry of Oil, the Ministry of Natural Resources in the Kurdistan Region, and international oil companies met on Sunday in Baghdad to discuss the resumption of production and exports, noting that the revenues will be deposited in an account in the Central Bank of Iraq.

Abdul Ghani expressed his hope that there will be multiple outlets for exporting Iraqi oil abroad, and he said: “We are looking for other sources to deliver Iraqi oil to global markets... We were exporting 400 thousand barrels of oil per day through Turkish Ceyhan before it stopped.” He added: “We are conducting negotiations with Turkey to resume oil exports through Ceyhan,” noting that “there is progress in the negotiations regarding the Iraqi-Turkish oil pipeline.”

Sunday's meeting in Baghdad, which was attended by Abdul Ghani and officials from the Ministry of Natural Resources in the Kurdistan Region, came after an invitation sent by the Ministry of Oil, last month, to the Kurdish authorities and international energy companies. To meet and discuss the resumption of northern oil exports.

A senior official at the Ministry of Oil, who requested anonymity due to the sensitivity of the talks, said on Sunday that the talks are expected to focus on the Kurdistan Regional Government’s energy production sharing contracts, which Baghdad wants to amend, and the oil production costs demanded by foreign oil companies. In exchange for oil extracted from the Kurdistan region.

Iraq says that foreign companies and the authorities of Iraqi Kurdistan are behind the delay in resuming crude oil exports. Because it has not yet submitted its contracts to the Federal Ministry of Oil for review.

Crude oil exports from Kurdistan stopped more than a year ago, after they were closed in March 2023. Due to the dispute over who allows exports from the Kurdistan region.

The impasse came on the heels of the International Chamber of Commerce's March 2023 ruling on a dispute between Turkey and Iraq over Kurdistan's oil. The ICC ruled in favor of Iraq, which said Turkey should not allow Kurdish oil exports through the Iraq-Turkey pipeline and the Turkish port of Ceyhan, without the approval of the Iraqi federal government.

Months of tense negotiations between Iraq and Turkey, and between Iraq and Kurdistan, followed, with an agreement remaining elusive. In January of this year, foreign companies operating in Kurdish oil fields called on the US Congress to take immediate action to help solve the problem of the cessation of crude oil exports from the autonomous Iraqi region. The group said, in a letter to Congress, that “oil export is the foundation of Iraq’s economy, and all Iraqis will benefit when full production and global sales from the Kurdistan region resume.”   link

************

Tishwash: Al-Rafidain: Al-Khader branch joins the branches that operate with the comprehensive system

Al-Rafidain Bank announced the implementation of the comprehensive banking system in the Al-Khader branch in Al-Muthanna.

The bank stated in a statement: “With the addition of the Al-Khader branch, the number of branches in force and operating the system has become (29), in an important step to strengthen the banking system, achieve its requirements, abandon paper work, and move completely to electronic systems.”

The bank confirmed: “The digital transformation plan and adoption of the comprehensive banking system is proceeding according to the set timings to include all the bank’s branches in implementing the system, especially since one of the priorities and adoptions of the government program is electronic transformation in financial transactions, reducing episodes of red tape for citizens, reducing time, simplifying procedures, removing obstacles, and intensifying efforts to raise the level of Services provided to customers and completion of their transactions.”   link

************

CandyKissses: Corporate governance in Iraqi banks. Enhancing transparency and efficiency

{Economical: Al-Furat News} Corporate governance is one of the most important factors that contribute to enhancing the performance and safety of the banking sector. By applying the principles of sound governance, banks can improve their efficiency and risk management, and enhance investor and customer confidence.

In Iraq, banks have come a long way in applying corporate governance principles, with the support of the Central Bank of Iraq and the Iraqi Deposit Insurance Company. These efforts have contributed to improving the performance of the banking sector and increasing its transparency, which reflected positively on the Iraqi economy in general.

Singapore’s experience in corporate governance in the banking sector is an example.
The Monetary Authority of Singapore (MAS) has applied a set of strict governance standards, including disclosure and transparency requirements, defining the responsibilities of the board of directors and executive management, and periodically evaluating the performance of banks.

These efforts have contributed to making Singapore a global financial centre with an excellent reputation for transparency and integrity.

In Iraq, the Iraqi Deposit Insurance Company can play a greater role in strengthening corporate governance in banks, by encouraging banks to adopt international best practices in this field, and providing training and guidance to board members and executive management.
The Iraqi Deposit Insurance Company is arguably an inspiring success story under difficult circumstances. Through its vital role in protecting depositors' funds and promoting confidence in the banking system, so that the company contributes to building a strong and stable national economy.

As its efforts in development and innovation continue, the Iraqi Deposit Insurance Company promises to be a key pillar in achieving sustainable economic development in Iraq.

************

Mot: .... Already it's Been ~~~~~

Mot:  . ooooooooooooooh Deeeeer - Da Dog Daze ~~~~~

Iraq Economic News and Points To Ponder Tuesday AM 6-11-24

Iraq Economic News and Points To Ponder Tuesday AM 6-11-24

Corporate Governance In Iraqi Banks... Enhancing Transparency And Efficiency

 Time: 06/10/2024 Read: 1,378 times   {Economic: Al Furat News} Corporate governance is one of the most important factors that contribute to enhancing the performance and safety of the banking sector.

By applying sound governance principles, banks can improve their efficiency and risk management, and enhance investor and customer confidence.

In Iraq, banks have made great strides in applying corporate governance principles, with support from the Central Bank of Iraq and the Iraqi Deposit Insurance Company.

These efforts have contributed to improving the performance of the banking sector and increasing its transparency, which has had a positive impact on the Iraqi economy in general.

Singapore's experience in the field of corporate governance in the banking sector is an example to follow.

 The Monetary Authority of Singapore (MAS) has implemented a set of stringent governance standards, including

   disclosure and transparency requirements,

   defining the responsibilities of the board of directors and executive management, and

   periodically evaluating banks' performance.

 These efforts have made Singapore a global financial center with an excellent reputation for transparency and integrity.

 In Iraq, the Iraqi Deposit Insurance Company can play a greater role in enhancing corporate governance in banks, by encouraging banks to adopt international best practices in this field, and providing training and guidance to members of the boards of directors and executive management.

It can be said that the Iraqi Deposit Insurance Company represents an inspiring success story under difficult circumstances.

Through its vital role in protecting depositors’ funds and enhancing confidence in the banking system, the company contributes to building a strong and stable national economy.

As its efforts in development and innovation continue, the Iraqi Deposit Insurance Company promises to be an essential pillar in achieving sustainable economic development in Iraq.

https://alforatnews.iq/news/حوكمة-الشركات-في-المصارف-العراقية-تعزيز-الشفافية-والكفاءة        

Baghdad Plans To Link China’s Belt And Road With Iraq’s Development Road

Amr Salem June 10, 2024

A map showing the path of China’s Belt and Road initiative. Photo: Asia Green Real Estate

Baghdad (IraqiNews.com) – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, confirmed on Sunday that it is possible to link China’s Belt and Road with Iraq’s strategic project of the Development Road.

Al-Sudani’s statement took place during his meeting with Dai Houliang, the chairman of China National Petroleum Corporation (CNPC), which is the government-owned parent company of PetroChina.

The meeting addressed Iraq’s interest in developing gas projects, fertilizer industries, and energy projects, in addition to the construction of a power plant and a petrochemical factory, according to a statement issued by the Prime Minister’s Office (PMO).

 The Belt and Road Initiative, also known as the New Silk Road, is a worldwide infrastructure development project launched by the Chinese government in 2013 with investments in more than 150 countries.

 According to the World Bank, the Belt and Road Initiative has the potential to increase trade flows in 155 participating countries by 4.1 percent while also lowering global trade costs by 1.1 to 2.2 percent and increasing the GDP of East Asian and Pacific developing countries by an average of 2.6 to 3.9 percent.

The Chinese initiative aims to build an integrated large market that fully utilizes both international and domestic markets through cultural exchange and integration to improve member countries’ mutual understanding and trust.

 The New Silk Road bridges an infrastructural gap and has the potential to boost economic growth across Asia, the Pacific, Africa, and Central and Eastern Europe.

 Iraq’s $17 billion Development Road project will connect the Al-Faw Grand Port in southern Iraq to the border with Turkey by extending a railway and road network.

 Many Arab, regional, and European countries have expressed their willingness to participate in Iraq’s Development Road project, either by pumping in investments or taking part in the construction works, as it constitutes an important link between Asia and Europe.

 The project is expected to turn the country into a transit center by shortening the travel time between Asia and Europe in an attempt to compete with Egypt’s Suez Canal.

Al-Sudani illustrated earlier that the project includes a railway to transport goods, with a capacity of 3.5 million tons in its first phase that will be increased to 7.5 million tons in the second phase.

The Iraqi Prime Minister mentioned that the project will also include a highway for land transport and pipelines to transport energy, in addition to the Al-Faw Grand Port and the industrial city expected to be one of the largest in the Middle East.

As a global corridor to transport goods and energy, the project will generate many job opportunities for Iraq and the countries of the region, as well as opportunities for industries and businessmen, and it will be a center attracting global trade.  

https://www.iraqinews.com/iraq/baghdad-thinks-of-linking-chinas-belt-and-road-with-iraqs-development-road/    

More Than $273 Million...Central Bank Sales Today

Monday 10, June 2024 12:43 | Economical Number of readings: 204

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

The window recorded the total amounts of transfers abroad (remittances, credits) at $255,000,000, while the total amount of cash sales amounted to $18,600,000, and the total amount of sales amounted to $273,600,000.

The cash sale 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. /End 11

https://ninanews.com/Website/News/Details?key=1131721

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

Provoking Thoughts and Points To Ponder On Adversity:

Every difficulty slurred over will be a ghost to disturb your repose later on.  - Fridiric Chopin

Fire tries gold, misfortune men.  - Anonymous

The fiery trials through which we pass will light us down in honour or dishonour to the latest generation.  - Abraham Lincoln

Thou hast shown thy people hard things: thou hast made us to drink the wine of astonishment. - Bible

A wounded deer leaps the highest.  - Emily Dickinson

The difficulties which I meet with in order to realize my existence are precisely what awaken and mobilize my activities, my capacities.  - Jose Ortega y Gasset

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

http://famousquotesandauthors.com/quotes_by_topic.html

Iraq Economic News and Points To Ponder Monday Afternoon 6-10-24

Iraq Economic News and Points To Ponder Monday Afternoon 6-10-24

International Monetary: We Support Iraqi Reforms That Keep The Oil Market Away From Crises

Economy  Monday, June 10, 2024 10:05 AM  Follow-up/National News Center  The head of the International Monetary Fund mission in Iraq, Ghazi Shubaikat, said that the Fund supports Iraqi reforms that achieve financial sustainability, keeping Iraq away from any crises affecting the oil market, which Iraq relies on to cover its annual expenses, anticipating growth in the Iraqi economy during the coming years.

*What Does The Fund Expect For The Future Of The Iraqi Economy?

- The Fund expects growth in the Iraqi macroeconomy, in conjunction with the reforms adopted by the government with the aim of creating realistic solutions to all economic problems, and we sensed seriousness from the Iraqi government in the field of achieving economic reforms that strengthen the relationship with the Fund, and this encourages the strengthening of cooperation in a way that serves the Iraqi economy, which He suffers from chronic problems.

*How Does The Fund Support The Iraqi Economy And What Is The Support?

The International Monetary Fund supports Iraqi reforms that achieve financial sustainability, keeping Iraq away from any crises facing the oil market, which Iraq relies on to cover its annual expenses, especially since a country like Iraq needs large revenues to cover the needs of all sectors, and this needs to create Real financial sustainability through reviving the productive and service sectors and bringing the capital cycle into a local context.

*What Do You Advise Regarding Reducing Unemployment Rates?

Iraq must focus on the labor market and create advantages in the private sector equivalent to what it obtains in the public sector, so that employment can be directed to the private sector, which must be activated within limits commensurate with Iraq's economic capabilities.

*What Does The Iraqi Labor Market Need?

- It is necessary to work on training and qualifying human resources in all specializations in light of the presence of human wealth that can be employed in a way that serves Iraq, with the need to create skilled labor in all sectors and in a way that is consistent with the government’s reform policy.

*In Your Opinion, Where Are The Strengths In The Economy?

- The private sector represents an economic force that can overcome challenges and gradually advance the national economy. It addresses many problems, especially since Iraq can achieve a diversity of revenues from sectors, some of which are distinguished by achieving sustainable revenues.

*What About The Financial Sector?

Competitiveness in the financial sector can create a sound financial sector with advanced services and safe and transparent money paths that support the economy and the stages of development it seeks and works to achieve and reaches the most important goals of financial sustainability. https://nnciraq.com/257087/

The Ministerial Council For The Economy Decides To Support The Independence Of The Central Bank In Formulating Monetary Policy

Economy News – Baghdad  On Monday, the Ministerial Council for the Economy took several decisions, including supporting the independence of the Central Bank of Iraq and approving recommendations regarding the import of vehicles.

The media office of the Ministerial Council for the Economy stated, in a statement seen by Al-Iqtisad News, that “Deputy Prime Minister, Minister of Foreign Affairs, and Chairman of the Ministerial Council for the Economy, Fouad Hussein, chaired the seventeenth session of the Ministerial Council for the Economy, in the presence of the Deputy Prime Minister, Minister of Planning, and Ministers of Industry.”

 Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank of Iraq, the Prime Minister’s advisors for economic and legal affairs, and the Chairman of the Securities Commission.”

He added, "The Council discussed the items on its agenda and took the necessary decisions regarding them, and hosted the President and Vice President of the Financial Supervision Bureau and the Director-General of the Legal Department in the Bureau to study and evaluate partnership contracts between the public and private sectors and demonstrate the economic feasibility of their continuation or termination."

He pointed out that "the head of the Bureau reviewed these contracts, which were divided between important contracts that benefit the state budget and contracts that lacked economic feasibility, and the Council decided to complete the discussions in the presence of representatives of the relevant ministries in order to resolve this important file."

The Council decided, according to the statement, “to approve the recommendations of the committee formed to study the adoption of Iraqi, Gulf, or higher specifications when importing vehicles in order to preserve the lives and safety of citizens and users of vehicles and roads.”

The Council discussed, “Determining the contribution of foreign capital to Iraqi banks, and in line with the state’s general policy in supporting the Iraqi and foreign banking sector and foreign investments in Iraq,” deciding to “support the independence of the Central Bank of Iraq in formulating monetary policy in accordance with its applicable laws and instructions.”

He hosted, “The Technical Undersecretary of the Ministry of Environment to discuss supporting the Ministry’s projects related to implementing the government program and removing obstacles that hinder its implementation.”  06/10/2024 - https://economy-news.net/content.php?id=44194

Implementing The Comprehensive Banking System Of Rafidain Bank In 29 Branches

Economy | 09:38 - 06/10/2024  Baghdad – Mawazine  Rafidain Bank announced today, Monday, the implementation of the comprehensive banking system in 29 branches so far.

A statement from the bank, received by Mawazine News, stated, “In implementation of government directives to adopt modern methods in completing banking transactions and expanding the circle of banking activity using advanced technical devices, Al-Rafidain Bank announces the implementation of the comprehensive banking system in its branches (Anbar and Mosul University), thus joining the branches.”

The comprehensive system was activated in Baghdad and the governorates, in addition to the branches of the border crossings (Zurbatiyah - Safwan - Arar - Trebil) in an important step to abandon paper work and move completely towards electronic transformation.

The bank confirmed that “the plan for digital transformation and adoption of the comprehensive banking system is proceeding according to the set timings to include all branches of the bank in implementing the system, especially since one of the priorities and adoptions of the government program is electronic transformation in financial transactions, reducing episodes of red tape for citizens, and reducing time and effort in completing citizens’ transactions.” https://www.mawazin.net/Details.aspx?jimare=249435

Find Out The Dollar Prices With The Closure Of Stock Exchanges In The Governorates

Economy | 07:10 - 06/10/2024   Baghdad - Mawazine News  publishes an evening list of the dollar exchange rates against the local dinar in some Iraqi governorates.   The list was as follows:

Baghdad:  Selling prices: 147,000   Purchasing prices: 145,000

Basra:  Selling prices: 146,000   Purchasing prices: 144,500

Erbil:  Selling prices: 147,000   Purchasing prices: 146,000

Najaf:  Selling prices: 146,000   Purchasing prices: 145,000

https://www.mawazin.net/Details.aspx?jimare=249485

Oil Prices Decline With The Rise Of The Dollar After US Data

Energy  Economy News _ Baghdad  Oil prices fell for the second session in a row on Monday, affected by a rise in the dollar if expectations of a cut in US interest rates were postponed in the wake of strong US jobs data on Friday.

By 0036 GMT, Brent and West Texas Intermediate crude futures fell 4 cents to $79.58 and $75.49 per barrel, respectively.

Data last Friday showed that the number of new jobs in the United States was more than expected last month, which prompted investors to reduce expectations of a rate cut and led to a rise in the dollar.

The rise of the dollar increases the cost of purchasing commodities denominated in the US currency, such as oil, for holders of other currencies.

The euro was also under pressure, reflecting the uncertainty in the euro zone, after French President Emmanuel Macron called for early legislative elections in June after his party lost in the European Parliament elections to Marine Le Pen's far-right party.

Markets are also focusing on the meetings of the Federal Reserve (US central bank) and the Bank of Japan this week.

Brent crude and West Texas Intermediate crude suffered a third weekly loss in a row last week, due to fears that a plan to reduce production cuts implemented by the OPEC+ group starting in October will add to an increase in global supply.

In Iraq, Oil Minister Hayan Abdul Ghani said that there is progress in talks with Kurdistan Region officials and representatives of international companies operating there to reach an agreement to resume oil exports through the Iraqi-Turkish oil pipeline, through which about 0.5% of global oil supplies passed.

Views 104  Added 06/10/2024 - 9:06 AM  https://economy-news.net/content.php?id=44177

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

Provoking Thoughts and Points To Ponder On Adversity:

Whenever there is chaos, it creates wonderful thinking. I consider chaos a gift.  - Septima Poinsette Clark

I have always been pushed by the negative.... The apparent failure of a play sends me back to my typewriter that very night, before the reviews are out. I am more compelled to get back to work than if I had a success.  - Tennessee Williams

What we want is never simple.  - Linda Pastan

For me life is a challenge. And it will be a challenge if I live to be a hundred or if I get to be a trillionaire. - Beah Richards

To be thrown upon one's own resources is to be cast into the very lap of fortune, for our faculties then undergo a development and display an energy of which they were previously unsusceptible. - Benjamin Franklin

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

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Monday Afternoon 6-10-24

Goldilocks' Comments and Global Economic News Monday Afternoon 6-10-24

Good Evening Dinar Recaps,

"Core Banking Systems Market Now Well-Established, Cloud Infrastucture to Drive Innovation – Report" | Crowdfund Insider

Cloud banking infrastructure allows financial institutions to deliver banking services and operations through the internet on-demand. 

On Demand Banking allows you to deposit to and withdraw funds immediately and whenever you want.

This electronic digital banking model provides access to computing resources like servers, data storage, and applications.

The top five vendors in 2024 for this new digital banking service include:

* Temenos
* FIS
* Mambu
* Finastra
* Tata Consultancy Services

As we have previously noted, the Iraqi digital banking services are now live on Temenos.

A core banking system is like a nervous system is to the body. It transmits electrical signals to the various components of a banking system allowing it to operate seamlessly.

A core banking system is a back-end system that processes daily banking transactions and posts updates to accounts and other financial records. Crowdfund Insider

© Goldilocks

~~~~~~~~~

Foreign Exchange | Five Degrees

The Core Banking System is the foundation of our Global Financial Markets.

It enables seamless currency exchanges, and it is the part of the banking system that coordinates risk management tools and digital networks to move virtual assets through the new QFS system on a Global scale.

Cross-border international trading is made possible through this new digital banking system mechanism. It will allow foreign currency exchanges to move through the system.

The beauty of this new digital banking system that is the nuts and bolts of all transactions done in a bank lies in the fact that it is done.

© Goldilocks

~~~~~~~~~

China's New Investment Play: Shifting Away from US Treasuries to Global Opportunities" | MSN

"China has diversified its holdings by selling $53.3 billion worth of US Treasuries and agency bonds. This adjustment aligns with BRICS nations gradually broadening their investment portfolios since 2022."

China is moving away from buying US Treasuries to Global opportunities that will expand the Chinese Yuan and the BRICS Nations coalition.

This is all part of leveling the playing field from a World Reserve Currency to payments transacted in local currencies.

This shift will increase the demand for their own currency and make available higher exchange rates with China and whoever they trade with going forward.

© Goldilocks

~~~~~~~~~

As US Treasury bonds are being sold around the world, we have a growing interest in Stablecoin use case scenarios designed to minimize the risk factors of a falling monetary system as it embraces a new digital asset-based trading system.

© Goldilocks

👆 Soft landing potential for the dollar...

~~~~~~~~~

What is Core Banking System | Youtube

~~~~~~~~~

Dodd-Frank Final Rule Announcement |  Dodd-Frank Update

In a move to help accelerate a shift to open banking in the U.S., the Consumer Financial Protection Bureau finalized a rule outlining the qualifications an organization must demonstrate to be recognized as an industry standard-setting body to develop technical standards for protecting consumer data rights.

~~~~~~~~~

Managing Risk With Trade Compliance In Global Supply Chains - Global Trade Magazine

~~~~~~~~~

Leaving the US dollar behind, embracing digital currency | The Jerusalem Post 

~~~~~~~~~

📰  So … all kinds of activity out there … in other news …  Link

🔘Italy  🇮🇹
🔘Austria  
🔘European Parliament 🏰
🔘France  🇫🇷
🔘Belgium  🇧🇪
🔘Spain  🇪🇸
🔘Israel  
🔘Germany  🇩🇪

Italy - exit polls show right-wing party is set to win most seats
Austria - Right-Wing surge; Freedom Party takes the lead in recent election, narrowly outpacing the Conservative People’s Party
European Parliament - Marine Le Pen’s party is on target to become the largest single party in the parliament
France - French President Emmanuel Macron announced that he’s dissolving the National Assembly & calls for snap elections on June 30 & July 7
Belgium - The PM, Alexander De Croo, announced his resignation after the defeat of his party in the European elections. “Tomorrow I will resign as Prime Minister,” announced De Croo.
Spain - Spain’s center-right People’s Party (PP) came out on top in today’s European election, gaining 22 seats out of the 61 allocated to the country, and dealing a blow to the Socialist-led govt of Pedro Sanchez
Israel - 4 resignations in less than an hour: Benny Gantz, Gadi Eisenkot, Avi Rosenfeld, Hili Tropper (all resigned). Israel is crumbling from within - Netanyahu wanted to avoid this by doing the massacre yesterday
Germany - far-right gain in election stunning defeat to Germany’s Scholz

Seems things are heating up & technically Summer hasn’t started yet
🔥 🔥🔥 🔥🔥 🔥🔥

EDIT: can’t forget Germany 🇩🇪

~~~~~~~~~

iTrustCapital | The #1 Crypto IRA Retirement Platform | iTrustCapital

iTrustCapital is a software platform that allows users to buy and sell cryptocurrencies and precious metals through tax-advantaged retirement accounts. It's considered a leading digital asset IRA software platform and offers a selection of over 25 cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. iTrustCapital also offers gold and silver. 

~~~~~~~~~

XRP Ledger Ready to Adopt Tokenized Gold, Silver in Q3, 2024 | U Today

~~~~~~~~~

ECB In Focus Webinar with Stuart J. Russell - AI: Concepts, Trends, and Coexistence | Youtube

~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline 

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Late Monday AM 6-10-24

Iraq Economic News and Points To Ponder Late Monday AM 6-10-24

Minister Of Oil: The Proportion Of Gas Investment Has Risen To 63 Percent, And We Plan To Build A Number Of Refineries

Economy      Today, 22:17  Baghdad – ; Deputy Prime Minister and Minister of Oil, Hayan Abdul Ghani, confirmed that the  proportion of gas investment has risen to 63 percent, while indicating that  the government is planning to build a number of refineries.

Abdul-Ghani said to the “Duty of Frankness” program, which is shown on Al-Iraqiya News and affiliated with the Iraqi News Agency (INA), that  the proportion of gas investment rose to 63%,” indicating that

 “the quantities of gas invested reached 1,900 million cubic feet.” 

He added,   "One thousand million cubic feet of gas is burned daily," stressing that "gas burning will stop completely for the period from 2028 to 2030."  He pointed out that "Iraq will not need to import gas in the future," noting that "the Okaz field produces 60 million cubic feet of gas."

 He continued, "Iraq's gas reserves are estimated at 140 trillion cubic feet," pointing out that "gas is considered the cleanest type of energy and fuel currently."  He stated,

"A refining capacity estimated at 360 thousand barrels per day was added during the life of the current government," explaining that   "Iraq consumes 28 million liters of gasoline per day." 

He pointed out that

 "Iraq produces 21 million liters of gasoline per day," noting,

 "We will achieve self-sufficiency in gasoline during the next year."  He pointed out that

 "gasoline is subsidized by 50 percent from the state," stressing that  

"the price of gasoline in Iraq is much lower than in other countries." 

He explained, "We have achieved self-sufficiency in white oil and gas oil," noting that "for the first time in the history of Iraq we have achieved self-sufficiency in gas oil."  He continued, "Iraq produces 4 million barrels of oil per day," noting that "Iraq exports 3 million and 400 thousand barrels of oil per day, and sometimes 3 million and 450 thousand barrels."  He went on to say:

"We hope to have multiple outlets for exporting Iraqi oil abroad," pointing out that

"OPEC decisions are issued in coordination with Iraq."  The minister continued,

"We are looking for other sources to deliver Iraqi oil to global markets," adding:  

"We were exporting 400,000 barrels of oil per day through Turkish Ceyhan before it stopped."  He stated that "we are conducting negotiations with Turkey to resume oil exports through Ceyhan," noting that

"there is progress in negotiations between the center and the region regarding the Iraqi-Turkish oil pipeline."  He pointed out that "the Aqaba pipeline project has been on the table since 1983," stressing that

 "we went towards activating the Basra Haditha pipeline all the way to the Iraqi-Turkish pipeline."

He continued,  "We plan to build a number of oil refineries in Nasiriyah, Samawah, and a number of governorates," explaining that  "the strategic pipeline project will feed the refineries with oil."  He pointed out that   "there is a plan to move the Doura refinery to Jurf Al-Nasr," stressing that "450 thousand barrels of oil per day go to local consumption."   https://www.ina.iq/210531--63-.html    

The Investor Sells To A Financier By “Defaulting” The Finances.. The Secrets Of The High Prices Of Investment Housing Units

 Economy     2024-06-09   3,128 views    Alsumaria News-Economy    Today, Sunday, the Parliamentary Investment Committee reviewed the reasons for the “dilemma” of high prices for investment housing units, which were supposedly created to solve the housing crisis in the country, while indicating that the

 most prominent reason is that the investor did not obtain a contract with the Ministry of Finance and therefore sold the units to “financiers.” “ They can set selling prices without any restrictions.

 The Vice Chairman of the Committee, Hussein Al-Sabari, said in an interview with Al-Sumaria News,

“There are several reasons behind the rise in the prices of investment housing units, especially in Baghdad,” noting that  the higher the prices.” 

He added,   "The other side of the rise in prices is that every investor who applies for a residential investment project provides economic feasibility by determining the construction price and the purchase price," noting that

 "investment bodies, whether national or in the governorates, did not follow up and monitor the different numbers between reality and feasibility." "Economic, and therefore

 we did not witness any punitive measures or warnings issued by investment authorities against violating companies." 

He explained that  the main reason behind the lack of monitoring and rising prices is that some investors circumvent this mtter by selling housing units to banks or financing financial institutions, and

 they in turn sell at higher prices and in the numbers they want, as

 they are not a party to the contract related to economic feasibility.  He points out that

 “the investor’s justification for selling the units to a financier or bank is that he did not obtain a loan or contract with the Ministry of Finance and the State Real Estate Department,” noting that

 “there is negligence in the Ministry of Finance regarding this issue, represented by the problem of not signing contracts, which... The investor pays to sell the housing units to banks, which finance the construction, acquire the housing units, and sell them at the prices they want.” 

He explained,  "If the pace of work in new cities is fast and starts offering reasonable prices, it is possible for the middle classes to obtain housing units.

 However, with this climate and investment environment in this way, it is difficult for the middle class to obtain apartments, especially within the capital, Baghdad."   

 https://www.alsumaria.tv/news/economy/490731/المستثمر-يبيع-لممول-بـتقصير-من-المالية-أسرار-ارتفاع-أسعار-وحدات-السكن    

Reconstructing Iraq: The role of banks in financing the future
 

Time: 06/08/2024 20:27:26 Read: 2,730 times  {Economic: Al-Furat News} Reconstructing Iraq after years of wars and conflicts represents a great challenge,
 
but it also represents an opportunity to rebuild a strong and sustainable economy.
 
Banks play a crucial role in financing reconstruction, by providing the loans and credit facilities necessary to finance construction and infrastructure projects.
 
The Iraqi Deposit Insurance Company played an important role in enhancing the confidence of investors and depositors in the Iraqi banking system,
 
which made it easier for banks to obtain the necessary financing for reconstruction.
 
It is estimated that Iraqi banks have provided loans worth more than $10 billion to finance reconstruction projects in recent years.
 
Germany's experience after World War II is an inspiring example of how banks can play a crucial role in the country's reconstruction.
 
The KfW German Development Bank has contributed to financing many vital projects in Germany, such as rebuilding industrial and residential infrastructure, and providing financing for small and medium-sized companies.    https://alforatnews.iq/news/إعادة-إعمار-العراق-دور-المصارف-في-تمويل-المستقبل   

After Depriving About 200 Commercial Companies Of The Dollar... Will Some Goods “Disappear” From The Market?

 Economy     2024-06-08 | 4,496 views Alsumaria News-Economy  Today, Saturday, the Baghdad Chamber of Commerce outlined the expected effects of the Central Bank of Iraq’s recent decision to deprive 197 general trading companies from the currency auction, due to violations, while indicating the possibility of these companies returning to the auction.

 Baghdad Chamber of Commerce spokesman, Rashid Al-Saadi, told Al-Sumaria News,

“The suspension of 197 companies and deprivation of obtaining the dollar at the official rate from the Central Bank of Iraq came after violations were flagged and the provision of unreal and exaggerated information about their trade and imports,” noting that“

 some of their transactions The information you provided is fictitious, and in light of these violations, this penalty was imposed and they were removed from the list for obtaining dollars.”

Regarding whether depriving these companies will have expected effects on the market or the possibility of the “disappearance” of some types of goods and merchandise, especially since these companies are all general trade and cigarette import companies, Al-Saadi said,

 “This number does not represent anything, as there are thousands of companies entering the currency auction for the purpose of obtaining dollars.”

Therefore, the increase in these companies will not have a significant impact on the market, whether in terms of goods or in terms of the rise in the price of the dollar.” 

He explained that  "the number of companies and merchants who enter through the currency platform is large and increasing day after day, after the facilities of the Central Bank and the increased experience of bank employees, as

 previously merchants were facing problems and did not accept to buy dollars from the Central Bank due to the difficulty of dealing. However, employees...

 "The banks have entered into training courses and the process has become easier."

 Regarding the future of these companies and whether they will stop their work or go to buy the dollar from the parallel market, he stressed that

“these companies can adjust their legal status and submit a request to the Central Bank to reconsider the decision after these companies apply the required standards,” noting that “this matter

 This happened earlier with 5 major and well-known companies in Iraq, where they were deprived of the dollar after a penalty was imposed on one of the banks,

 but these companies submitted a request to the Central Bank, met the required standards, and returned to the currency auction easily.”  

 https://www.alsumaria.tv/news/economy/490639/بعد-حرمان-نحو-200-شركة-تجارية-من-الدولار-هل-تختفي-بعض-السلع-من-السوق؟    

The European Union Mission Expresses Its Readiness To Cooperate With The Iraqi Banking Sector

 June 09, 2024   His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the European Union mission headed by His Excellency Ambassador Mr. Thomas Seiler in Baghdad.

His Excellency the Governor discussed the role of the Central Bank of Iraq and its interest in developing the banking sector, and its diligent measures in structuring government banks and addressing problems therein with direct support and follow-up from the Prime Minister.

 His Excellency explained that these banks used international auditing companies.

Pointing out that the Central Bank is working to establish a “Riyadah Bank” specialized in

      financing small and medium enterprises, in order to

     facilitate and develop credit capacity, in consolidating loans, with support and supervision from the Central Bank and

     financing from private banks, and

     seeking the expertise of international organizations in this field.

 In his speech, His Excellency the Governor focused on the bank’s interest in

   strengthening and developing electronic payment systems and

   internal and external electronic financial transfers, and

   developing supervisory practices in the field of combating money laundering in accordance with international standards.

 For his part, Mr. Siler praised the role of the Central Bank of Iraq in the steps it took to develop the

   banking sector,

    conomic stability, and

   confront difficulties and challenges.

 Expressing the readiness of the European Union to provide support and joint cooperation in developing systems and expertise for the staff of the Central Bank of Iraq and to open areas of cooperation with the Iraqi and European banking sectors through official communication methods between them.

 Central Bank of Iraq  information Office  June 9, 2024  https://cbi.iq/news/view/2604    

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

Provoking Thoughts and Points To Ponder On Adversity:

Every difficulty slurred over will be a ghost to disturb your repose later on.  - Fridiric Chopin

Fire tries gold, misfortune men.  - Anonymous

The fiery trials through which we pass will light us down in honour or dishonour to the latest generation.  - Abraham Lincoln

Thou hast shown thy people hard things: thou hast made us to drink the wine of astonishment. - Bible

A wounded deer leaps the highest.  - Emily Dickinson

The difficulties which I meet with in order to realize my existence are precisely what awaken and mobilize my activities, my capacities.  - Jose Ortega y Gasset

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

http://famousquotesandauthors.com/quotes_by_topic.html

“Tidbits From TNT” Monday 6-10-2024

TNT:

Tishwash:  Politician: American forces will remain in the military bases, with only their description changing

Political analyst Qasim Balshan said on Monday that American forces will not leave Iraqi territory and will remain in the camps while changing the capacity in which they are present inside Iraq.

Balshan told the Maalouma Agency, “There is no actual move to end the presence of American forces in military bases, and what will happen is to change the capacity in which these forces are present.”

He added, “The Sudanese visit to Washington did not involve an agreement with the American administration to withdraw its forces from Iraq, as there is no official request submitted by the Iraqi government to its American counterpart to withdraw its forces from military bases inside Iraq. "

He promised, “The talk about ending the American military presence will not be implemented on the ground, since the government did not approach the American administration in this regard.”    link

************

CandyKisses: China displaces European companies from Iraq's energy sector

The Iraqi government is setting increasing the country's oil reserves to more than 160 billion barrels, a strategic goal for the next stage, on a strong path to support its steps in terms of ongoing economic reforms, and support its ability to achieve sustainable development and improve its economic reality.

Iraq has high hopes for its crude oil exports, especially with the formation of more than 90 percent of the Iraqi budget revenues, which prompted it to launch a set of projects to increase production and open the way for investments in the field of oil and gas field exploration.

In this context, Chinese companies have emerged as a major player in the oil investment arena in Iraq, in contrast to the absence of American and European companies, through the acquisition of many new investments by a number of companies to explore oil and gas fields in Iraq, as part of the licensing round launched by the Ministry of Oil to develop the oil and gas sector in the country

************

CandyKisses: Saudi Arabia and America are putting the final touches to an unprecedented alliance. Surprise details revealed

Baghdad today - follow-up

American and Saudi officials said today, Sunday (June 9, 2024), that the administration of President Joe Biden is close to finalizing an unprecedented defense agreement with the Kingdom of Saudi Arabia, according to the American Wall Street Journal.

The newspaper reported that the Biden administration is about to finalize a treaty with Saudi Arabia, under which Washington commits to helping defend the Kingdom as part of a deal aimed at advancing diplomatic relations between Riyadh and Israel (normalization).

The potential deal, which has been widely debated between US and other officials for weeks, is part of a broader package that will include a civilian nuclear deal between Washington and Riyadh and steps toward Palestinian statehood and an end to the war in Gaza.

The newspaper quoted US and Saudi officials as saying that the draft treaty was modeled after the joint security agreement between the United States and Japan.

The draft treaty would give Washington the possibility to use Saudi territory and the kingdom's airspace to protect US interests and partners in the region in exchange for a US commitment to help defend Saudi Arabia in the event of an attack.

It quoted officials as saying the treaty was also aimed at strengthening ties between Riyadh and Washington by preventing China from building bases in the kingdom or continuing security cooperation with Riyadh.

Approval of the treaty, which the Wall Street Journal said would be called the Strategic Alliance Agreement, would require a two-thirds majority vote in the US Senate in favor, something that would be difficult to achieve unless the agreement provided for normalization of relations between Israel and the kingdom.

*************

Tishwash:  International Monetary Fund mission: We expect growth in the Iraqi economy

The head of the International Monetary Fund mission in Iraq, Dr. Ghazi Shubaikat: There has been growth in the Iraqi economy in light of the reforms adopted by the government, at a time when he stressed that Iraq must work to achieve financial sustainability while having the elements to achieve this goal.

Al-Sabah met with the head of the mission and asked him the following questions:

*What does the Fund expect for the future of the Iraqi economy?
- The Fund expects growth in the Iraqi macroeconomy, in conjunction with the reforms adopted by the government with the aim of creating realistic solutions to all economic problems, and we sensed seriousness from the Iraqi government in the field of achieving economic reforms that strengthen the relationship with the Fund, and this encourages the strengthening of cooperation in a way that serves the Iraqi economy, which is suffering. Chronic problems.
*
How does the Fund support the Iraqi economy and what is the source of support?
The International Monetary Fund supports Iraqi reforms that achieve financial sustainability, keeping Iraq away from any crises affecting the oil market, which Iraq relies on to cover its annual expenses, especially since a country like Iraq needs large revenues to cover the needs of all sectors, and this needs to create Real financial sustainability through reviving the productive and service sectors and bringing the capital cycle into a local context.

*What do you advise regarding reducing unemployment rates?
Iraq must focus on the labor market and create advantages in the private sector equivalent to what it obtains in the public sector, so that employment can be directed to the private sector, which must be activated within limits commensurate with Iraq’s economic capabilities.

*What does the Iraqi labor market need?
It is necessary to work on training and qualifying human resources in all specializations in light of the presence of human wealth that can be employed in a way that serves Iraq, with the need to create skilled labor in all sectors and in a way that is consistent with the government’s reform policy.

*In your opinion, where are the strengths in the economy?
- The private sector represents an economic force that can overcome challenges and gradually advance the national economy. It addresses many problems, especially since Iraq can achieve a diversity of revenues from sectors, some of which are distinguished by achieving sustainable revenues.

*What about the financial sector?
Competitiveness in the financial sector can create a solid financial sector with advanced services and safe and transparent money paths that support the economy and the stages of development it seeks and works to achieve, and reaches the most important goals of financial sustainability.   link

************

Mot: Must be Soooo - Cause it Says Sooooo 

Mot: .. Siiggghhhhhh -- getting to be a Habit it is!!!! 

Iraq Economic News and Points To Ponder Late Sunday Evening 6-9-24

Iraq Economic News and Points To Ponder Late Sunday Evening  6-9-24

Al-Sudani: The Government Has Provided A Safe Investment Environment And Financial And Banking Facilities That Are Attractive To Experienced Companies

Sunday 09, June 2024 13:08 | Economical Number of readings: 478  Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani confirmed that the government has provided a safe investment environment, and financial and banking facilities that are attractive to experienced companies, which opens horizons for continuous cooperation, reflects positively on the local economy, creates job opportunities, and maximizes Iraq’s oil resources, in light of The goal of converting at least 40% of Iraq's oil exports into derivatives and refining products, in addition to gas investment.

A statement from his media office said that today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani, Chairman of the Board of Directors of Al Hilal Companies, Mr. Hamid Jaafar, and his accompanying delegation, indicating that the meeting witnessed a review of the progress of work in the projects undertaken by the company in Iraq, especially the company’s project within the fifth round of licensing.

In addition to confirming the government’s vision to expand productive partnerships with companies and regional and international economic groups, in cooperation with the Iraqi private sector, within the government’s platform for economic reform.

For his part, Hamid Jaafar expressed his appreciation for the government’s steps in facilitating all aspects of fruitful work, and the Prime Minister’s directives to remove obstacles and impediments that hinder the work of investment companies, and to prepare everything that would raise levels of cooperation./End 7   https://ninanews.com/Website/News/Details?key=1131529

Iraqi Oil Exports To America Decreased During The Past Week

Sunday 09, June 2024 10:29 | Economical Number of readings: 252  Baghdad / NINA / The US Energy Information Administration announced today, Sunday, that Iraq’s oil exports to America decreased during the past week.

The administration said in a table, “The average US imports of crude oil during the past week from 7 major countries amounted to 5,757 million barrels per day, an increase of 290 thousand barrels per day from the previous week, which amounted to 5,467 million barrels per day.”

She added, "Iraq's oil exports to America amounted to 126,000 barrels per day last week, down by 107,000 barrels per day from the previous week, which amounted to 233,000 barrels per day."

The administration indicated that "most of America's oil revenues during the past week came from Canada, Mexico, Colombia, and then Saudi Arabia."

According to the table, “the amount of American imports of crude oil continued, from Brazil and Ecuador, while Libya and Nigeria did not export any amount of oil to the United States during the past week.”   https://ninanews.com/Website/News/Details?key=1131488

Today...The Central Bank Sells $250 Million

Economy |  06/09/2024  Baghdad - Mawazine News  Central Bank data revealed today, Sunday, the sale of more than 245 million dollars through the currency auction window.

During its auction for buying and selling the US dollar, the Central Bank sold 269 million 320 thousand and 104 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for external transfers.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 245 million 90 thousand and 104 dollars, an increase of 90% over cash sales amounting to 24 million 230 thousand dollars.      https://www.mawazin.net/Details.aspx?jimare=249403

Evening List Of Dollar Prices.. Get To Know Them

Economy | 04:17 - 06/09/2024   Baghdad - Mawazine News  publishes an evening list of the dollar exchange rates against the local dinar in some Iraqi governorates.  The list was as follows:

Baghdad:  Selling prices: 148,000   Purchasing prices: 146,000

Basra:  Selling prices: 146,500   Purchasing prices: 146,000

Erbil:  Selling prices: 147,000   Purchasing prices: 146,000

Najaf:  Selling prices: 147,000  Purchasing prices: 145,500

https://www.mawazin.net/Details.aspx?jimare=249412

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

Provoking Thoughts and Points To Ponder On Adversity:

Trouble will rain on those who are already wet. - Anonymous

They say a reasonable amount o' fleas is good for a dog - it keeps him from broodin' over bein' a dog mebbe.- Edward Noyes Westcott

There is nothing the body suffers which the soul may not profit by. - George Meredith

The burden is equal to the horse's strength. - The Talmud

Nothing befalls a man except what is in his nature to endure. - Marcus Aurelius

I am escaped by the skin of my teeth.  - Bible

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

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Sunday Evening 6-9-24

Goldilocks' Comments and Global Economic News Sunday Evening 6-9-24

Good evening Dinar Recaps,

Saudi Arabia joins BIS- and China-led central bank digital currency project | Reuters

Today, we are witnessing a 100-year cycle/bubble in the markets and a 50-year pact going away with Saudi Arabia moving from the Petro Dollar to trading in local currencies.

I wouldn't expect too much of a shift the next 2 to 3 days on the Dollar, but the weeks ahead will have a significant toll on the Dollar going forward.

This shift in the Global Economy will begin the process of "leveling the playing field" and reset new demands on currencies that have not been utilized in trade for a long time.

All of this is coming at a very pivotal time. As we shift our attention from the Petrol Dollar to Stablecoins that represent our local currencies in trade among nations, these new demands will increase money velocity that will raise the value of currencies around the world. 

This is a process that takes a little time to see changes happen, but the process has begun.  Reuters

WATCH THE WATER.

©✓Goldilocks 

~~~~~~~~~

Breaking the Bank: Sen. Lee Introduces Bill to Abolish the Federal Reserve | Lee Senate

READ  PDF HERE

~~~~~~~~~

Central Banks of the World Explained

It is important to note that we are moving from a Petro Dollar regimen to a Central Bank Digital System.

There are about 214 Central Banks around the world that are officially recognized by countries as of Feb 16, 2023.

The new Global Economy is moving into a "shared governance regimen" whereby "leveling the playing field" between countries through Central Banks are beginning to lead the way.

It is the wCBDC coins that will move money around in cross-border International trading. This is causing a shift in the movement from a World Reserve Asset to a shared Central Bank Governance. PLUS50 Stabroek News

© Goldilocks

~~~~~~~~~

Remember the Golden Rule! Whoever has the gold, makes the rules! | Economic Sociology

"He who holds the gold makes the rules." This is never been more applicable than it is as we approach our new world.

The Central Banks govern the banking system.

Who has been storing the gold? The Central Banks. Now, you can begin to see where this is heading.

© Goldilocks

~~~~~~~~~

DTCC testifies to Congress on opportunities to advance financial markets | Asset Servicing Times

~~~~~~~~~

The New York Fed acts as the guardian and custodian of the gold on behalf of account holders, which includes the U.S. government, foreign governments, other central banks, and official international organizations. No individuals or private sector entities are permitted to store gold in the vault. | NewYorkFed

~~~~~~~~~

What Central Banks Do | Investopedia

On a macro basis, central banks influence interest rates and participate in open market operations to control the cost of borrowing and lending throughout an economy. Central banks also operate on a micro-scale, setting the commercial banks' reserve ratio and acting as lenders of last resort when necessary.

~~~~~~~~~

Central Bank | Wikipedia

In some countries a central bank, through its subsidiaries, controls and monitors the banking sector. In other countries banking supervision is carried out by a government department such as the UK Treasury, or by an independent government agency, for example, UK's Financial Conduct Authority.

~~~~~~~~~

Steady as we go: results of the 2023 CPMI cross-border payments monitoring survey | BIS

Enhancing cross-border payments has been a G20 priority since 2020. This ambitious programme requires action by individual jurisdictions and payment systems. The CPMI survey results show determined progress: the vast majority of payment systems have or are in the process of implementing at least one action that the G20 considers to be relevant to enhance cross-border payments.

Despite the promising number of initiatives planned to enhance cross-border payments, the survey results also highlight potential areas for further work. Projects to enhance cross-border payments cannot be seen in isolation and should complement domestic projects, given that the first and last miles of cross-border payments are typically processed in a domestic payment system.

Central banks, in their roles as catalysts and operators, are key to bringing cross-border payments forward. International organisations and standard-setting bodies, such as the CPMI, the IMF, and the World Bank, can support central banks in their ambitions.

~~~~~~~~~

Cash isn't going away, despite declining use | PaymentsSource | American Banker

~~~~~~~~~

Russia and China to cooperate on Arctic shipping route | Ship Technology

~~~~~~~~~

New Law Grants U.S. President Sweeping Powers to Block Digital Asset Access, Sparking Concerns - Crypto Daily

~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline 

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Sunday 6-9-2024

TNT:

Tishwash: Al-Sudani: The government has provided a safe investment environment and financial and banking facilities that are attractive to experienced companies

Prime Minister Muhammad Shiaa Al-Sudani confirmed that the government has provided a safe investment environment, and financial and banking facilities that are attractive to experienced companies, which opens horizons for continuous cooperation, reflects positively on the local economy, creates job opportunities, and maximizes Iraq’s oil resources, in light of The goal of converting at least 40% of Iraq's oil exports into derivatives and refining products, in addition to gas investment.

A statement from his media office said that today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani, Chairman of the Board of Directors of Al Hilal Companies, Mr. Hamid Jaafar, and his accompanying delegation, indicating that the meeting witnessed a review of the progress of work in the projects undertaken by the company in Iraq, especially the company’s project within the fifth round of licensing. In addition to confirming the government’s vision to expand productive partnerships with companies and regional and international economic groups, in cooperation with the Iraqi private sector, within the government’s platform for economic reform.

For his part, Hamid Jaafar expressed his appreciation for the government’s steps in facilitating all aspects of fruitful work, and the Prime Minister’s directives to remove obstacles and impediments that hinder the work of investment companies, and to prepare everything that would raise levels of cooperation.   link

************

Tishwash:  Iraq bids farewell to the list of “high-risk countries”

 Observers and specialists in political affairs expressed their optimism about Iraq’s exit from the list of “high-risk countries” that was officially announced by the International Task Force (FATF) last week, noting that the international declaration represents an important step in the correct path that the Sudanese government is taking in achieving reforms. Financial and economic along with political stability.

Political affairs analyst, Qasim Balshan Al-Tamimi, told “Al-Sabah”: “Iraq’s exit from (the follow-up area) and from the list of (high-risk countries), according to the announcement of the International Task Force (FATF), is a very important step,” noting that “the announcement The International Bank came as a result of the reforms carried out by the Central Bank of Iraq, as well as the procedures and reforms of the Office of Combating Money Laundering and the Financing of Terrorism.”

He added, "Iraq's exit from the list also comes as a result of the legislation of the Anti-Money Laundering Law No. 39 of 2015, and also the establishment of the Anti-Money Laundering Council," and explained that "Under the announcement of the International Working Group, Iraq has become outside the monitoring and follow-up process, and this means that it has regained the confidence of the group."

"By restoring this confidence, Iraq can play a major and pivotal role in the region and in the world, and this step would also make Iraq a destination and a source of interest for major international development and investment companies." The International Financial Action Task Force (FATF) officially announced Iraq’s exit from the follow-up area, due to the significant progress achieved by the Central Bank of Iraq and the Anti-Money Laundering and Combating the Financing of Terrorism Office in improving and addressing deficiencies and in fulfilling all its obligations towards the recommendations of the Financial Action Task Force and addressing the requirements of the strategy to combat money laundering and financing of terrorism. Terrorism, and thus Iraq is no longer subject to monitoring and follow-up by the international Financial Action Task Force (FATF).

For his part, the political analyst, Ali Al-Baidar, stated in an interview with “Al-Sabah” that “Iraq’s exit from the list of the most corrupt countries is evidence that the Sudanese government is not a government of services - as it is referred to - but rather a reform government that has achieved many political and governmental aspects and prevented "A lot of cases of corruption."

 He noted that "Iraq's exit from the list confirms the important steps that the government has worked on, and from here we can look at the deep vision with which the authority dealt with and the method of implementing its service programs in a reform manner, many of which were directed towards preventing corruption, such as activating electronic automation, and there is also awareness Socially, it contributed to rejecting cases of rampant corruption in recent years.”

 He explained that "the fingerprints that Al-Sudani placed on the wheel of reform were reflected positively on the projects and the clarity of vision for many matters related to services and reform. It also appears that Prime Minister Muhammad Shia Al-Sudani laid the foundation for basic visions and ideas that are reflected in the lives of Iraqis, including creating a culture of transparency and integrity, and this The matter affects Iraq's reputation positively, and also affects international support and the creation of an investment environment in Iraq to attract companies, and these are the first fruits of reform that Sudanese reaped as a result of the positive repercussions of his government program.”  link

************

CandyKisses:  Within months. Jump in Indian merchandise exports to Iraq

Baghdad - Iraq Today:

The "Iraq of the Future" Foundation for Economic Studies and Consultations said that the value of Indian exports to Iraq from April 2023 to March 2024 increased by 24% compared to the same period last year.

According to data from the Indian Ministry of Commerce and Industry, the value of direct Indian exports to Iraq amounted to 3.4 billion US dollars, up from 2.7 billion dollars for the same period last year.

According to a report released by the institution today, India's rice exports rose 131 percent to $910 million, up from the same period last year, which was worth US$392 million.

Fossil fuels decreased by 9.15% to $799 million from $879 million.

Indian meat exports increased by 41.5% to US$329 million from US$232 million for the same period last year.

Iron exports also increased by 153%, tea exports by 141%, fruit exports by 114%, clothing exports by 106%, and vegetable oil exports by 103%.

The commodities that fell were sugar, whose exports from India to Iraq fell by 85%.

The report indicates that India is the fifth exporter to Iraq of goods after the UAE, China, Turkey and Iran, and the establishment of India's exports is considered direct to Iraq, and may rise if it is added to the value of re-exported goods from the UAE, which is represented by a large percentage of Indian products.

On the other hand, the value of Iraq's exports to India, mainly of crude oil, decreased from 34 billion US dollars compared to 30 billion US dollars in the period from April 2023 to March 2024.

************

Tishwash: Association of Private Banks: Iraq witnessed a major revolution and widespread change in electronic payment tools

The Iraqi Private Banks Association confirmed today, Sunday, that Iraq has witnessed a major revolution and a wide change in the level of use of electronic payment tools since 2023, while indicating a significant increase in the size and number of electronic payment operations.

The Executive Director of the Iraqi Private Banks Association, Ali Tariq, told the Iraqi News Agency (INA): “The Iraqi Private Banks Association Foundation and the Iraqi banking sector are fully prepared to cooperate within the directions of the Central Bank of Iraq, which are greatly supported by government directions, especially after the recent visit to the United States.” The American efforts resulted in framing the process of working to solve the problems related to preventing the use of the dollar for a group of Iraqi banks.”

Tariq added, “The role of the Association of Private Banks believes in implementing these trends related to amending work mechanisms, using modern technical tools, and reviewing previous accounts,” stressing that “the Association will be very supportive of these trends.”

He pointed out that "the Association of Private Banks hopes for the return of banks that can meet the above requirements," pointing out that "the issue that occurred on the private banking sector had negative effects," adding that "the general trends and the banks' directions must be to repair the damage that occurred in the stage." previous".

He stressed that "Iraq has witnessed a major revolution and a wide change since the previous year until now in the level of use of electronic payment tools, which the government has approved the adoption of electronic payment in government or private institutions," noting that "Iraq has also witnessed a significant increase in the volume of operations and the number of operations related to electronic payment, In addition to an increase in the number of bank cards, and doubling the number of electronic payment points ( pos ), therefore there is a big change.”

He stressed that "the current year will witness significant and tangible change by the citizen."

Tariq pointed out that "the institution seeks as much as possible to strengthen relations between electronic payment companies and banks on the one hand and between government institutions and the Central Bank of Iraq on the other hand, in addition to educating the community on the continuous use of electronic payment tools  link

************

Mot: I Just Loves the Insight Ya Gets frum da ole Internet!!!!

Mot:  .... Get Ready!!! --- Its Time!!!!

Iraq Economic News and Points To Ponder Sunday AM 6-9-24

Iraq Economic News and Points To Ponder Sunday AM 6-9-24

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    

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

Provoking Thoughts and Points To Ponder On Adversity:

From a fallen tree, all make kindling.   - Spanish proverb

The virtue of prosperity is temperance; the virtue of adversity is fortitude, which in morals is the heroical virtue.   - Francis Bacon

The keenest sorrow is to recognize ourselves as the sole cause of all our adversities.  - Sophocles

No untroubled day has ever dawned for me.  - Seneca

You can't have more bugs than a blanketful.  - Spanish proverb

Even in the deepest sinking there is the hidden purpose of an ultimate rising. Thus it is for all men, from none is the source of light withheld unless he himself withdraws from it. Therefore the most important thing is not to despair.  - Hasidic saying

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

http://famousquotesandauthors.com/quotes_by_topic.html