KTFA:

Clare: Details of the parliamentary finance meeting on the final report of the 20204 budget

6/1/2024

Today, Saturday, June 1, 2024, the Finance Committee, headed by Engineer Atwan Al-Atwani and attended by its members, led its meeting dedicated to preparing the final report on the federal general budget schedules for the year 20204.

The Chairman of the Finance Committee stressed the keenness to complete all the details related to the schedules and prepare the final report in preparation for presenting it to the House of Representatives, taking into account the state’s financial path and the economic feasibility that must be studied.

The members of the committee presented views and opinions regarding the possibility of making the required transfers according to need and the economic vision in line with the public interest, as well as the importance of assessing the institutions’ need according to realistic data.

KTFA:

Clare: Details of the parliamentary finance meeting on the final report of the 20204 budget

6/1/2024

Today, Saturday, June 1, 2024, the Finance Committee, headed by Engineer Atwan Al-Atwani and attended by its members, led its meeting dedicated to preparing the final report on the federal general budget schedules for the year 20204.

The Chairman of the Finance Committee stressed the keenness to complete all the details related to the schedules and prepare the final report in preparation for presenting it to the House of Representatives, taking into account the state’s financial path and the economic feasibility that must be studied.

The members of the committee presented views and opinions regarding the possibility of making the required transfers according to need and the economic vision in line with the public interest, as well as the importance of assessing the institutions’ need according to realistic data.

The committee added the need to raise the level of ambition in terms of the necessary financial allocations for projects and distribute the amounts fairly in accordance with the law and in line with the government program. LINK

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Clare: Sudanese inaugurates a digital data center that operates for 30 days without electricity

6/1/2024

Today, Saturday, Iraqi Prime Minister Muhammad Shiaa Al-Sudani opened the digital data center at the Ministry of Interior and the traffic plate manufacturing factory, in the capital, Baghdad.

The opening took place, according to a statement received by Shafaq News Agency, in the presence of the Ministers of Interior, Planning, Communications, Higher Education, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank, and a number of government and security officials.

In his speech during the opening, Al-Sudani praised the efforts of workers in the Ministry of Interior and the Iraqi company implementing the project, stressing the importance of the digital data center in preserving and circulating data.

He explained that the Ministry has made important strides in providing electronic service to citizens, which began with the passport and entry visa, and today it culminates in the completion of this center dedicated to collecting data, pointing out that the Ministry of Interior is not only a security body, but it is also a service ministry that deals directly with the citizen.

He stressed the importance of sharing data between different departments and institutions, stressing that the readiness of information will raise the level of performance of the Ministry of Interior in the field of tracking crime.

He explained that the digital data center is in line with the directives of the Prime Minister to ensure data security and sharing, and to rely on automation and digital transformation in providing services to citizens. According to the statement, this center is part of the electronic passport, electronic visa and electronic portals project concluded with the Police Martyrs Fund. It will also serve the Ministry of Interior and all its formations, such as the electronic passport systems, the electronic visa, the national card, the vehicle registration system, market licenses, criminal evidence, and the Directorate of... Identities, and will be able to support ministries and the private sector in data hosting and backup.

Al-Sudani stated that the center accommodates 200 digital data cabins, accommodates future development and expansion for the next 20 years, and was built with high specifications that allow it to continue operating for 30 days in the event of a complete national power outage.

During his speech, Al-Sudani also said: “Our government is a service government, and when service is achieved quickly and easily and we obtain the satisfaction of the citizen, then we have achieved our goal.”

He stressed that speed, accuracy and security of information is required, and that a meeting of the Supreme Committee for Digital Transformation was held to emphasize the importance of not dispersing efforts through the large number of committees.

He stressed that his directives include dealing with everything issued by the Supreme Committee for Digital Transformation as a work plan that must be implemented, and that the process of preserving information today depends on a cybersecurity system to maintain information security, stressing the necessity of keeping pace with the acceleration in electronic development, and the importance of data sharing between ministries and institutions. Various, to be provided to the Ministry of Planning, the Central Bank, and the Social Protection Network.

Al-Sudani concluded his speech by emphasizing that sharing information enables dealing with crime with quick measures, and that the readiness of information will increase performance in tracking down criminals. LINK

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Courtesy of Dinar Guru: https://www.dinarguru.com/

Frank26 Article: "Parliamentary Finance confirms the readiness of the budget tables for voting in Monday’s session" I BELIEVE IN JUNE 3rd FOR MANY THINGS TO COME TOGETHER.

Militia Man The House of Representatives will vote next Monday on the budge schedules...We've been waiting for it... Is it important? Is it not important? Obviously it's a focus. Article Quote: "Mustafa ... announced the House of Representatives intends to vote on the financial budget tables for the year of 2024...It will be held at 3:00 in the afternoon on Monday."

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CHINA: Economic & Industrial Rise, West Asia Geopolitics, BRICS Blockchain |Prof. Warwick Powell

Lena Petrova: 6-1-2024

https://www.youtube.com/watch?v=BxDTE2fjT-Q

The Fed's Rate Cut Deception Just Got Exposed

Atlantis Report: 6-1-2024

The Federal Reserve's decisions about interest rates have significant implications for the entire economy.

There is increasing anticipation about the possibility of the Fed reducing interest rates, usually seen as a way to stimulate economic growth and prosperity.

However, as the discussion heats up, many experts have noted that the Fed might be using a bait and switch strategy, where the Fed's promises of economic boosting rate cuts may not be what they seem.

This unsettling possibility has caused concern in the financial community, leading to scrutiny and skepticism from consumers, businesses, and economic experts.

https://www.youtube.com/watch?v=R7b1PNwYIQE

DINARRECAPS8 6/1/24 DINARRECAPS8 6/1/24

Goldilocks' Comments and Global Economic News Saturday Afternoon 6-1-24

Good evening Dinar Recaps,

"Liquidity in U.S. financial markets is starting to dry up, which could it make it difficult for stocks and other risky assets to advance from here, according to analysts at JPMorgan."

This has been going on since the end of March 2024. If you remember, this was the time banks were no longer going to receive free liquidity going forward. 👇

"The Federal Reserve Board announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11. The program will continue to make loans until that time and is available as an additional source of liquidity for eligible institutions."

This lack of liquidity has reached its tipping point. And now, we have reached a contracting phase in the markets. It appears that old money has reached its limits.

Goldilocks' Comments and Global Economic News Saturday Afternoon 6-1-24

Good Evening Dinar Recaps,

"Liquidity in U.S. financial markets is starting to dry up, which could it make it difficult for stocks and other risky assets to advance from here, according to analysts at JPMorgan."

This has been going on since the end of March 2024. If you remember, this was the time banks were no longer going to receive free liquidity going forward. 👇

"The Federal Reserve Board announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11. The program will continue to make loans until that time and is available as an additional source of liquidity for eligible institutions."

This lack of liquidity has reached its tipping point. And now, we have reached a contracting phase in the markets. It appears that old money has reached its limits.

There are currently over 450 London Metal Exchange approved Warehouses around the world, and their numbers are continuing to grow. They are located across the USA, Europe, and Asia.

These active locations are ready to serve the needs of the new digital asset-based trading system. Gold and other precious metals have been on the rise since the beginning of this year. The time has come for gold's new role in our world to awaken. Market Watch LME Financial Express

Gold is the new liquidity. Gold will set us free.

© Goldilocks

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BREAKING NEWS IRAQ Trouble | Youtube

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The race toward instant payments has now begun. The new MICA regulations have set everything in motion. | The Paypers

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Russian Commodity Companies Using Stablecoins To Settle With Chinese Counterparts: Report | Daily Hodl

Russian Commodity Companies Announcement:

Russian commodities firms are reportedly using the top stablecoin USDT to execute financial transactions with Chinese companies.

Bloomberg, citing “top executives at the companies,” reports that at least two metals producers in Russia use the Tether-issued stablecoin and other crypto assets to facilitate cross-border transactions with clients and suppliers in China.

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RBI relocates 100 tonnes of gold from UK to its Indian vaults: Report | LiveMint

RBI relocated over 100 tonnes of gold from UK to India for logistical and storage reasons, hinting at more gold entering the country soon. This move follows RBI's recent acquisition of 27.5 tonnes, increasing its total gold holdings to 822.1 tonnes by March.

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SEC Announcement:

Washington D.C., May 31, 2024 —
The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on June 6, 2024, at 10 a.m. ET. The meeting will be webcast on the SEC website. SEC

The committee will host two panels:

* Examining the New Frontier for Investment Advice

* AI Regulation: Embracing the Future

The committee will also discuss potential recommendations regarding the Protection of Self-Directed Investors when Trading Complex Products and Utilizing Complex Strategies and Financial Literacy and Investor Education.

The Investor Advisory Committee, which focuses on investor-related interests, advises the Commission on regulatory priorities and various initiatives to help protect investors and promote the integrity of the U.S. securities markets. Established by the Dodd-Frank Act, the Committee is authorized by Congress to submit findings and recommendations to the Commission.

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Fed’s Wait-and-See on Rate Cuts Supported by Worst 6-Month “Core” & “Core Services” PCE Inflation since mid-2023 | Wolf Street

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The UK recently conducted a consultation about its Digital Securities Sandbox (DSS), which eases legal requirements for central securities depositories. The aim is to enable tokenization initiatives to issue, trade and settle digital securities. | Ledger Insights

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BIS shares how Project Agorá aims to tokenize correspondent banking - Ledger Insights - blockchain

Bank for International Settlements Announcement:

Last month the Bank for International Settlements (BIS) Innovation Hub unveiled Project Agorá, its ambitious project with seven central banks to transform cross-border payments with tokenization. It proposes using a Unified Ledger involving wholesale central bank digital currencies (wCBDC) and tokenized deposits on a shared infrastructure to execute payments. Today the BIS released a short paper on “Next generation correspondent banking“, which outlines the vision for Agorá. A large part of that relates to how compliance is dealt with.

~~~~~~~~~

Securities & Futures Commission of Hong Kong Announcement | Finance Magnates

SFC Warns of June 1 Deadline: Comply or Face Legal Consequences

Virtual asset trading platforms must be licensed by June 1, 2024, or face criminal charges

The regulator urges investors to trade only on licensed platforms.

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First Green Security Token Offering for New Energy Vehicles Charging Network in Hong Kong - The Tokenizer

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Join the Seeds of Wisdom Team SNL call with Freedom Fighter breaking down Goldilock's weekly posts! Jester will be joining too! SNL Call Link

9 pm EDT / 8 pm CDT / 6 pm PDT

The SNL Q & A room will be open at 8 pm ET, 7 pm CT, and 5 pm PT to ask questions that will be answered on the call!

The call will be recorded and you can find it in the Archive Call Room after the call is over.

~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

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Goldilocks on the Seeds of Wisdom Team™ Website

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Thank you Dinar Recaps

Dinar Recaps 20 6/1/24 Dinar Recaps 20 6/1/24

“Tidbits From TNT” Saturday 6-1-2024

TNT:

CandyKisses: Al-Sayhood: The UN Security Council vote to end the work of UNAMI is a historic victory for Iraq, its people and its government

Saturday 01, June 24

Baghdad / Nina /

The Secretary-General of the Assembly / generations / MP Muhammad Saadoun Al-Sayhoud The vote of the United Nations Security Council to end the work of the UNAMI mission is a historic victory for Iraq, its people and its government.

Al-Sayhoud explained in a press statement today: "The termination of the work of the UNAMI mission in Iraq in 2025 came after a government effort and constructive and purposeful dialogues that established to the world that Iraq is able to manage the country by itself without any need for UN intervention, especially what Iraq is witnessing under the government of Prime Minister Muhammad Shia Al-Sudani of political, security, economic, development, investment, service as well as diplomatic stability."

TNT:

CandyKisses: Al-Sayhood: The UN Security Council vote to end the work of UNAMI is a historic victory for Iraq, its people and its government

Saturday 01, June 24

Baghdad / Nina / The Secretary-General of the Assembly / generations / MP Muhammad Saadoun Al-Sayhoud The vote of the United Nations Security Council to end the work of the UNAMI mission is a historic victory for Iraq, its people and its government.

Al-Sayhoud explained in a press statement today: "The termination of the work of the UNAMI mission in Iraq in 2025 came after a government effort and constructive and purposeful dialogues that established to the world that Iraq is able to manage the country by itself without any need for UN intervention, especially what Iraq is witnessing under the government of Prime Minister Muhammad Shia Al-Sudani of political, security, economic, development, investment, service as well as diplomatic stability."

He added: "The entire international community has placed its confidence in Prime Minister Mohammed Shia Al-Sudani, especially after the international, regional and Arab openness and its positive effects in the advancement and advancement of Iraq and its auspicious and influential return as an important and effective element in the Arab, regional and international environment and its great participation in solving important issues and spreading the principles of brotherhood, peace and stability in the region and the world, distancing oneself from external conflicts and moving away from the policy of axes."

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CandyKisses: Iraq announces the arrival of approximately 24,400 pilgrims to the Holy Land so far

Economy News - Baghdad

Today, Friday, the Supreme Commission for Hajj and Umrah counted Iraqi pilgrims traveling by land and air to the Holy Land, while confirming the existence of coordination with the Central Bank and banks to sell dollars to pilgrims at the official rate

"The voyage process is continuing, whether by air through Baghdad, Najaf, Basra, Erbil, Sulaymaniyah and Kirkuk airports to Madinah airport - Prince Mohammed bin Abdulaziz airport, directly, as well as the voyage through the Arar border crossing, where pilgrims are escorted by security forces to the Arar border crossing," said spokesman Hassan Fahd al-Kinani.

Al-Kinani added that "pilgrims pass through the city of pilgrims and Umrah performers, which was established in a record period not exceeding sixty days, and there are all the amenities that the pilgrim needs, and it contains restaurants, a bakery, a factory for the production of crystal ice, and a dream, where breakfast, lunch and dinner are served when the pilgrim stays there, and then at the Arar border crossing, where the procedures are easy and easy."

"The number of pilgrims traveling by land and air to the Holy Land has reached about 24,400, half of whom are now in Medina and the other half have moved to Mecca after visiting the Holy Prophet (peace be upon him)," he said.

Regarding coordination with the Central Bank to obtain the dollar, Al-Kinani explained that "there is coordination with the Central Bank, Al-Rasheed and Rafidain Banks, and the Hermit Bank, which has been since the beginning of the regiment in the process of exchanging dollars to pilgrims, in addition to the Iraqi Trade Bank and exchange companies, all of which are on the official website of the Commission. Any pilgrim to the Holy Land can access the official website of the Commission through social networking sites or on the official website of the Commission in order to know where to sell dollars at the official rate for for pilgrims of Baghdad and the provinces."

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Tishwash: Al-Sudani: “The development road” means linking the East to Europe through Iraqi lands

Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that the development road project means, according to current market equations and international trade movement, a link between the East and Europe through Iraqi and Turkish lands together.

Al-Sudani, during an interview conducted by Anatolia Agency, said: In the beginning, we must look historically at Iraq’s role in trade between the East and the West over many centuries, and I am not exaggerating if I say that since prehistoric times, Mesopotamia has been an easy trade corridor whose paths trade caravans prefer to follow. And standing and trading with its metropolises, cities and urban centres.”

He stressed that the path of development is essentially to restore this historical role, and linking the port of Al-Faw to the Turkish border means, according to current market equations and international trade movement, a link between the East and Europe via Iraqi and Turkish lands together.
The Prime Minister explained that the region is witnessing conflicts and tensions that recede at times and escalate at other times, and this prompts us to focus efforts on projects that overlap in interests and overlap in benefits.

He added: The Development Road will provide an opportunity for the emergence of industrial cities on both sides of it, which will complement the trade passing through it. Later this year, we will inaugurate the first berths at Al-Faw Port, and the flow of goods through the Development Road route will begin initially.”

He continued, saying: All indicators, economic readings and feasibility studies, say that this corridor is the least expensive and fastest among the rest of the corridors. We do not say that it is an alternative, but rather regional and international trade really needs a path of development, as it is a linking project that promotes overlap in interests and causes of economic sustainability.

Following President Erdogan's visit to Iraq, Turkish Minister of Transport and Infrastructure Abdulkadir Oraloglu said that with the operation of the development road, the volume of trade with Iraq will increase from $20 billion to $30-40 billion.

Regarding the future volume of bilateral trade between Turkey and Iraq, which is currently estimated at about 20 billion dollars, the Prime Minister of Iraq said: The increase in the volume of bilateral trade with Turkey can be expanded vertically, but we are seeking vertical expansion as well. In short, this is the role of the Development Road Project and the projects attached to it. “

He added: Experience and history have proven that the progress of a country alone and in isolation from its neighbourhood, is something that carries an unknown future despite all possibilities and conflicts. Therefore, we focus on increasing the capacity of exchange and actual partnership (with Turkey) is the guarantor of stability and deep, long-term relations.

He continued: In our relationship with our Turkish brothers, we also focused on one of the most promising sectors in investment and cooperation, which is the agricultural sector, and soon we will witness practical steps in this aspect, and the participation of Turkish companies.”

Regarding investments in Iraqi gas fields, the Prime Minister of Iraq said, in his interview with Anadolu: “Gas investment is a strategic test for Iraq, and our national wealth must be optimally employed in serving our people and development plans.”
He added: It is not possible to continue burning gas, firstly due to the waste of this wealth that can be benefited from, and secondly due to the environmental effects. We announced a special round of licenses to invest in gas fields.

He continued, saying: We plan for Iraq to be self-sufficient in domestic gas production within 3 years, and Iraq is moving confidently to be an important element in the gas market within 5 years, and we will achieve self-sufficiency in this material at the expense of electricity production.

The Prime Minister of Iraq said: Specialists know that the existence of a technological base for gas investment is at the same time a base for the broadest petrochemical industries, and this is what we seek.”

Regarding potential partnerships in these investments, the Prime Minister of Iraq indicated that the doors are open to every reputable and specialized company that wishes to participate in this sector, and we also welcome regional companies because they will expand the base of cooperation in other areas.

He added: It is important to understand that gas investment means providing additional resources for development in Iraq, which are resources that can be invested in various promising economic rights, and these areas will be open to the participation of Turkish companies and companies of other friendly countries.

Iraq's current production of natural gas is about 2.7 billion cubic feet, and according to previous estimates, Iraq has a reserve of 132 trillion cubic feet of gas, of which 700 billion cubic feet were burned, as a result of the weak ability to exploit it.

Regarding the flow of Iraqi oil, the Iraqi Prime Minister explained that stopping the pumping of Iraqi oil extracted from the fields of the Kurdistan region of Iraq is undoubtedly a loss for Iraq, and at least it is the loss of an expected benefit that can support development plans in the provinces of the region and strengthen the Iraqi economy as a whole.

He added: He added: We took the initiative to find acceptable settlements and legal solutions and solutions after a thorough legal study, but the matter is surrounded by a legal obligation, because the Federal General Budget Law requires calculating the cost of producing one barrel of oil in all fields to be within the national average of the cost of production, which is around $8 per barrel, according to what was announced. Federal Ministry of Oil.

He continued: But the Ministry of Natural Resources in the Kurdistan Regional Government, and within the contracts signed with the oil company operating there, the cost of production is calculated at around $26 per barrel, and we suggested to Imam that the budget law be amended, or that the agreements and contracts with these companies be amended.”

The Prime Minister of Iraq continued, saying: From this standpoint, companies stopped production, as the ban did not come from the federal government, and we are waiting for a solution to be found. The companies refused to amend the contracts, while the regional government agreed.

He explained that for these reasons, more work is required to find a legal solution that first ensures the rights of Iraq and its people to its wealth.
He added: As for transporting Basra oil through Turkish ports, the matter is subject to study and determining the economic feasibility first of all.

Currently, Iraq’s oil production is approximately 4 million barrels per day, according to data from the Ministry of Oil and the Organization of the Petroleum Exporting Countries (OPEC), while it imports about 25 million liters of gas oil, gasoline, and white oil daily, in addition to natural gas.

According to previous statements by Al-Sudani, Iraq intends to be self-sufficient in oil derivatives, stop imports, and save $3.2 billion link

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Mot: Can You Believe This!!??? -- I'm Still Wondering What Happened to March!!!

Mot: . Finally !!! -- the Seniors Version of ~~~~~ facebook

DINARRECAPS8 6/1/24 DINARRECAPS8 6/1/24

Iraq Economic News and Points To Ponder Late Thursday Evening 6-1-24

Chairman Of The Parliamentary Security Committee: The Security Council’s Decision To Withdraw The UN Representative Restored Iraq’s Sovereignty

Saturday 01, June 2024 | Political Number of readings: 128 Baghdad / NINA / Chairman of the Security and Defense Committee, Karim Aliwi Al-Muhammadawi, confirmed the ability of the Iraqi security forces to protect the homeland’s lands and the country’s sovereignty.

Al-Muhammadawi welcomed in a statement: “The UN Security Council’s decision to withdraw the United Nations representative from Iraq and considered it a successful decision and evidence of the modern state’s policy for Iraq, after it convinced the international parties of the necessity of Iraq restoring its sovereignty once again.”

Iraq Economic News and Points To Ponder Late Thursday Evening 6-1-24

Chairman Of The Parliamentary Security Committee: The Security Council’s Decision To Withdraw The UN Representative Restored Iraq’s Sovereignty

He added: “Iraq is capable of protecting itself and that its security services are on standby to protect the nation’s wall internally and externally from any international or terrorist movement or attack.”/ https://ninanews.com/Website/News/Details?key=1130010

Oil Prices Suffer A Weekly Loss Ahead Of The OPEC+ Meeting

Money and business Economy News - follow up Oil prices fell yesterday, Friday, and recorded a weekly loss, as investors focused on the OPEC+ meeting scheduled for Sunday to decide on the alliance’s production levels.

Brent crude futures for July delivery fell 24 cents, or 0.3%, to $81.62 a barrel, while August futures fell 77 cents, or 0.8%, to $81.11.

US West Texas Intermediate crude futures fell 92 cents, or 1.2%, to $76.99, according to Reuters.

Brent crude fell 0.6% over the week, while West Texas Intermediate crude lost 1%.

Markets are awaiting the OPEC+ alliance meeting scheduled to be held on Sunday, as sources told Reuters that the OPEC+ alliance is working on drafting a complex agreement that would allow some of the sharp cuts in oil production to be extended until 2025.

Data from the US Energy Information Administration showed on Friday that US crude oil production rose in March to its highest level this year, while production of fuel products, an indicator of demand, fell 0.4% to 19.9 million barrels per day.

The oil market has been under pressure in the past few weeks due to the possibility that borrowing costs will remain high for a longer period in the United States, which could harm crude oil consumption.

The two benchmark crude oils were heading towards their largest monthly decline since December, after falling in the previous session due to a sudden increase in US fuel inventories.Views 84 06/01/2024 - https://economy-news.net/content.php?id=43912

Learn About The Dollar Exchange Rates In Local Markets

Local | 06/01/2024 Baghdad - Mawazine News The exchange rates of the dollar rose today, Saturday, in local markets.

Dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 145,300 Iraqi dinars for every 100 dollars, while last Thursday prices recorded 145,150 Iraqi dinars for every 100 dollars.

Selling prices in banking shops in local markets in Baghdad stabilized, with the selling price reaching 146,250 dinars, while the purchasing price reached 144,250 dinars for every 100 dollars.

As for Erbil, the stock market does not trade on official holidays, but the dollar recorded stability in banking shops, as the selling price reached 145,000 dinars against the dollar, and the purchase price reached 144,900 dinars against 100 dollars. https://www.mawazin.net/Details.aspx?jimare=248963

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

Provoking Thoughts and Points To Ponder on Failures and Mistakes

Apparent failure may hold in its rough shell the germs of a success that will blossom in time, and bear fruit throughout eternity.- Frances Ellen Watkins Harper

The causes of mistakes are "I didn't know"; "I didn't think"; and "I didn't care."- Henry H. Buckley

Failures are divided into two classes: those who thought and never did, and those who did and never thought.- John Charles Salak

A failure establishes only this, that our determination to succeed was not strong enough.- Christian Bovee

Self-distrust is the cause of most of our failures. They are the weakest, however strong, who have no faith in themselves or their own powers.- Christian Bovee

Defeat is a thing of weariness, of incoherence, of boredom.- Antoine de Saint-Exupery

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

http://famousquotesandauthors.com/quotes_by_topic.html

DINARRECAPS8 6/1/24 DINARRECAPS8 6/1/24

Iraqi Dinar Video Update Saturday AM 6-1-24

Wow ! Finally Iraq Budget Approved – 4:54

Vietnam Dong Massive Update – 4:10h

Wow It's Excited News Coming Out From Iraq – 4:50

Iraq Dinar Finally IQD Huge Exchange Rate – 5:19

International Revaluation 2024 – 6:40

Iraqi Dinar Video Update Saturday AM 6-1-24

Wow ! Finally Iraq Budget Approved – 4:54

Vietnam Dong Massive Update – 4:10h

Wow It's Excited News Coming Out From Iraq – 4:50

Iraq Dinar Finally IQD Huge Exchange Rate – 5:19

International Revaluation 2024 – 6:40

Wow ! Finally Iraq Budget Approved – 4:54

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

Vietnam Dong Massive Update – 4:10

https://www.youtube.com/watch?v=C7b9SeDe4_I

Wow It's Excited News Coming Out From Iraq – 4:50

https://www.youtube.com/watch?v=zBtuJBpv9kg

Iraq Dinar Finally IQD Huge Exchange Rate – 5:19

https://www.youtube.com/watch?v=4Bq_QOS7TNY

International Revaluation 2024 – 6:40

https://www.youtube.com/watch?v=0nazS9X-2KY

Dinar Recaps 20 6/1/24 Dinar Recaps 20 6/1/24

Weekend News With MarkZ 6-1-2024

Weekend News with MarkZ

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions

Member: Welcome to the weekend

MZ: Fairly dry for RV news but have interesting developments throughout the week with Iraq and auctions ….they are using US dollars to buy dinar off the streets. This is big.

Member: I thought they were de-dollarizing……this is very confusing.

MZ: With more IQD off the streets it supports a higher value. The auction traded roughly $280 million USD buying Iraqi dinar off the streets and out of circulation.

MZ: Here is the US our M1/M2 money supply as dived…it’s tanked.

Weekend News with MarkZ

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions

Member: Welcome to the weekend

MZ: Fairly dry for RV news but have interesting developments throughout the week with Iraq and auctions ….they are using US dollars to buy dinar off the streets. This is big.

Member: I thought they were de-dollarizing……this is very confusing.

MZ: With more IQD off the streets it supports a higher value. The auction traded roughly $280 million USD buying Iraqi dinar off the streets and out of circulation.

MZ: Here is the US our M1/M2 money supply as dived…it’s tanked.

MZ: Its quiet from the bank side, group side, bond side. I expected it to be pretty quiet this weekend. But folks are geared up for early next week. I have been told by a number of them that are ready and positioned.

MZ: Most bond folks are expecting full funds on Monday or Tuesday now.

MZ: “ BRICS: JP Morgan forecasts unavailable crisis for the US dollar” The piper has got to be paid and it is coming due. Jaime Dimon is not the only one telling them this stuff. He is not the only one saying the US is about to hit a big crisis. If the US hits a crisis….the whole world will be in crisis.

MZ: At least we have picked up foreign currencies of countries with a lot of commodities. And many have picked up metals. We should all be prepared with food and things.

Member: We should all be prepared for nothing to happen until after our elections…..hope for the best but plan for the worst……seems to be the way things are heading.

Member: Unless the markets really do crash and everyone is forced to change…..That is what I hope.

MZ: I thought this one was interesting from Ariel……There is confirmation that we have a dual banking system running alongside the traditional banking system (SWIFT) that is based on the Petro dollar that the Federal Reserve wants to maintain a monopoly over. But he says the supreme court has ruled in the favor of states to adhere to their own charter outside the corporate Fed System.

MZ: He says “States are taking their power back” This document shows we never needed the Federal Reserve on a legal basis . And as a matter of fact the Fed. Reserve is illegal on how they manage our money. The constitution is specific “No state shall make any currency outside of gold and silver” Which also means the US government should not make any money outside of gold and silver…or instruments thereof. .

MZ: States are taking their power back. Banks with federal charters are subject to federal oversight , But, banks with state charters are called state banks are subject to state oversight and regulations. These two banking systems co-exist and compete. Per Supreme court ruling.

MZ: I think that is interesting and it does show we have a back up system

Member: Well if state banks start to offer asset/gold silver based currency- I’m switching from a big federal bank to a state bank asap. I’m sure I won’t be alone. Unless of course we get the QFS.

Member: Remember- on June 9 being the last day that Saudi Arabia will no longer sell us oil after 70 year treaty ends?

Member: Everyone have a great weekend…..stay positive and keep the faith.

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.

TO GET THE “REAL MARKZ ACCOUNTS”, TWITTER, YT, RUMBLE, TELEGRAM ROOMS, AND FOR MARK’S DAILY LINKS TO HIS WEBSITE: https://theoriginalmarkz.com

STAY IN THE KNOW: FOR UPDATES ON PODCASTS (CHANGES & GUESTS). YOU WILL FIND PLENTY OF USEFUL INFO THAT KOUKLA UPDATES OFTEN FOR MARK AT THE TELEGRAM INTEL CHANNEL: https://t.me/+K_GNVfTI0gFkZWYx

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANK YOU ALL FOR JOINING. HAVE A BLESSED WEEKEND! SEE YOU ALL MONDAY MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

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

Dinar Recaps 20 6/1/24 Dinar Recaps 20 6/1/24

Ariel: How Will Iraq Finance The Revaluation: The Pay Off

Ariel: How Will Iraq Finance The Revaluation: The Pay Off

An example.

First off, I’ll use the exchange of a 50,000 IQD (Iraqi Dinar) note as my example. To help explain the economics of this cash-in example, I will use a 1:1 cash-in ratio between the USD (US Dollar) and IQD (Iraqi Dinar), considering the current global economic environment, Iraq’s gold reserves, numerous trade deals, and its financial independence from the fiat USD.

What You Will Receive:

If you were to cash in your 50,000 IQD note with a bank that charges you a 2% spread, you would personally receive a net take-home of $49,000 credited to your bank account.

Keep in mind you will more than likely be able to wave many bank fees. So do not worry about that.

Ariel: How Will Iraq Finance The Revaluation: The Pay Off

An example.

First off, I’ll use the exchange of a 50,000 IQD (Iraqi Dinar) note as my example. To help explain the economics of this cash-in example, I will use a 1:1 cash-in ratio between the USD (US Dollar) and IQD (Iraqi Dinar), considering the current global economic environment, Iraq’s gold reserves, numerous trade deals, and its financial independence from the fiat USD.

What You Will Receive:

If you were to cash in your 50,000 IQD note with a bank that charges you a 2% spread, you would personally receive a net take-home of $49,000 credited to your bank account.

Keep in mind you will more than likely be able to wave many bank fees. So do not worry about that.

What Your Bank Will Receive:

Your bank will receive a $50,000 credit to its account with the US Treasury. They will also be able to add the $1,000 profit to their “capital account.”

Ultimately, the bank wins because they are able to gain $10,000 in lending power under the 10% “Fractional Banking” model.

What the US Treasury Will Receive:

First off, the US Treasury will receive $17,500 in estimated taxes in the quarter after the exchange, because you are now in the “rich” category and get to enjoy the 35% tax bracket. This lowers the “net cost” of the IQD exchange to the US financial system to $32,500 USD (i.e., $50,000 out – $17,500 in).

Again this is only an example using what people assume about taxes based on the current system they are familiar with. We know bills have been passed that makes precious metals non-taxable. I want you all to read this with that in mind.

Furthermore, the US Treasury’s rate is higher than the banking rate (we will use in this example 1.25), thereby further reducing their “net cost” from $32,500 to $20,000.

Gold Reserves and Economic Stability:

Iraq’s substantial gold reserves, estimated at around 96 tons, provide significant economic stability and backing for their currency. This gold reserve bolsters confidence in the dinar and supports the revaluation process.

Trade Deals and Debt Status:

Iraq has established numerous trade agreements with countries such as China, India, and members of the European Union, boosting their economic resilience. Additionally, having paid off their international debts, Iraq’s financial position is more robust, making the revaluation more feasible.

In 2022, Iraq and China finalized multiple oil agreements, including a significant 25-year deal for the Mansuriya field. These deals enhance Iraq’s oil export capacity and strengthen economic ties between the two countries.

India also remains a major trade partner, with substantial imports of Iraqi crude oil. In 2022, Iraq exported $38.8 billion worth of crude oil to India, reinforcing the strategic energy partnership between the two countries.

Iraq has maintained strong trade relations with Turkey, with significant exports of hydrocarbons. The ongoing collaboration includes investments in infrastructure and trade facilitation.

Iraq has bolstered its trade relationship with the UAE, focusing on imports of refined petroleum, broadcasting equipment, and cars. In 2022, the UAE was one of Iraq’s largest import partners, contributing $21.2 billion to Iraq’s trade volume.

Iraq has sought to enhance trade relations with Jordan and Egypt. One notable initiative is the planned highway between Baghdad and Cairo via Amman, aimed at boosting regional trade and cooperation.

Moving Away from Fiat USD:

By reducing its reliance on the fiat USD and engaging in bilateral trade agreements using local currencies and gold-backed transactions, Iraq enhances its economic sovereignty. This shift supports the stability and strength of the IQD in the international market.

Oil Now Enters the Picture:

At some point, a Treasury-appointed agent orders $62,500 worth of oil from Iraq. Payment will consist of a $62,500 transfer from the Treasury’s foreign currency reserve IQD account to the Iraq oil payment account at the CBI (Central Bank of Iraq) in a form otherwise known as PetroDollars/PetroDinar. Even though the world spot price of oil is defined in terms of USD, the actual transaction may take place in any internationally recognized currency agreed to by the parties.

How The CBI Recaptures The Money:

The $62,500 order is filled with 1,250 barrels of oil based on the spot price on the date of the sale (for this example, we used a $50 USD spot price). What does it cost Iraq to produce the oil to fill this order? They have negotiated production agreements for approximately $2 USD/barrel. From that price, $.50 USD goes to the national Iraqi oil company who is the partner in the field the oil came from. Out of the remaining $1.50, the other oil field partners have to pay the Iraq government a profit tax of $.53 USD (35%). The net cost to Iraq to produce a barrel of oil used in this scenario is $.97 USD. (i.e., $2 – .50 – .53)

What does all that mean? It costs Iraq $1,212.50 to bring back a 50,000 IQD note! Can they afford that? I think so! So, instead of paying out $62,500 for a 50,000 IQD note, they only pay $1,212.50! That doesn’t add to the money supply much at all, does it? They receive their IQD back and place it in the CBI, or destroy it.

Summary of Economic Impact:

The transaction is completed with the US Treasury exchanging foreign reserve credits which are equal to $62,500 USD (which had a net acquisition cost of $20,000 USD for the US) for 1,250 barrels of oil (which has a TOTAL COST to produce of $1,212.50 USD for Iraq).

More completely explained, and simply put, it costs Iraq $1,212.50 USD from their foreign currency reserve accounts to redeem the value of 50,000 IQD, which goes into their operating accounts. At the same time, the US got $62,500 worth of oil for a net cost of $20,000. This is how the plan for Iraq to RV at 1 IQD = 1 USD is made possible, with the variable being the political element.

Other Factors that Strengthen Iraq’s Position and Ability to RV:

1. **Gold Reserves**: With approximately 96 tons of gold reserves, Iraq has a strong foundation to support its currency revaluation.

2. **Debt-Free Status**: Iraq has paid off its international debts, providing financial stability and credibility.

3. **Increased Oil Production**: Iraq plans to increase oil production from 2+ million barrels/day to 10 million barrels/day, significantly boosting revenues.

4. **Diversified Trade Deals**: Iraq’s numerous trade agreements with various countries enhance its economic resilience and reduce dependency on any single market.

5. **Reduced Reliance on Fiat USD**: By moving away from the fiat USD, Iraq enhances its economic sovereignty and stability.

Conclusion:

This comprehensive plan showcases how Iraq can afford to revalue its currency, benefiting all parties involved. The robust economic strategies, supported by significant gold reserves, trade agreements, and a shift away from fiat USD, make the revaluation not only feasible but also beneficial for the global economy.

In this scenario, EVERYONE WINS, and the IQD is gradually taken back into the CBI, eventually destroyed, leaving a manageable money supply behind. This process creates substantial wealth, supporting global economic regeneration and stability.

https://dinarchronicles.com/2024/05/31/ariel-prolotario1-how-will-iraq-finance-the-revaluation-and-the-pay-off/

DINARRECAPS8 6/1/24 DINARRECAPS8 6/1/24

Iraqi Dinar Video Update Late Friday Evening 5-31-24

Iraqi Dinar Massive Exchange Rate – 5:49

WOW Iraqi Dinar Exchange Rate – 4:10

Iraqi Dinar RV Approved – 3:41

Al Sudani Announced IQD vs USD exchange rate – 4:39

Iraq Bank Big Announced Iraqi Dinar Exchange Rate – 5:21

Iraqi Dinar Video Update Late Friday Evening 5-31-24

Iraqi Dinar Massive Exchange Rate – 5:49

WOW Iraqi Dinar Exchange Rate – 4:10

Iraqi Dinar RV Approved – 3:41

Al Sudani Announced IQD vs USD exchange rate – 4:39

Iraq Bank Big Announced Iraqi Dinar Exchange Rate – 5:21

Iraqi Dinar Massive Exchange Rate – 5:49

https://www.youtube.com/watch?v=eTqRwGg8rAE

WOW Iraqi Dinar Exchange Rate – 4:10

https://www.youtube.com/watch?v=8NycENHH4do

Iraqi Dinar RV Approved – 3:41

https://www.youtube.com/watch?v=W9_b92w-Zcg

Al Sudani Announced IQD vs USD exchange rate – 4:39

https://www.youtube.com/watch?v=Akw-HN1XVlk

Iraq Bank Big Announced Iraqi Dinar Exchange Rate 5:21

https://www.youtube.com/watch?v=5sBsXTV4_uI

Dinar Recaps 20 6/1/24 Dinar Recaps 20 6/1/24

News, Rumors and Opinions Saturday AM 6-1-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Sat. 1 June 2024

Compiled Sat. 1 June 2024 12:01 am EST by Judy Byington

Global Currency Reset: (Rumors/Opinions)

Judy Note: In my opinion it appeared that regulations for the Global Currency Reset were finalized on Wed. 29 May 2024. Tiers 1 and 2 have been funded, while Bond Holders have not.

Tier 3 was apparently under Non Disclosure Agreements so they may already have liquidity. Tier4b (Us, the Internet Group) could be notified for exchange appointments any time from now to Tues. 4 June, with a final D Day of Thurs. 6 June.

The Tier4b exchange/ bond redemption process was hoped to be finished by Sat. 15 June and if not, there was a back wall date of Thurs. 4 July when it was believed that the GCR would be announced to the General Public.

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Sat. 1 June 2024

Compiled Sat. 1 June 2024 12:01 am EST by Judy Byington

Global Currency Reset: (Rumors/Opinions)

Judy Note: In my opinion it appeared that regulations for the Global Currency Reset were finalized on Wed. 29 May 2024. Tiers 1 and 2 have been funded, while Bond Holders have not.

Tier 3 was apparently under Non Disclosure Agreements so they may already have liquidity. Tier4b (Us, the Internet Group) could be notified for exchange appointments any time from now to Tues. 4 June, with a final D Day of Thurs. 6 June.

The Tier4b exchange/ bond redemption process was hoped to be finished by Sat. 15 June and if not, there was a back wall date of Thurs. 4 July when it was believed that the GCR would be announced to the General Public.

Fri. 31 May 2024 Wolverine: “It’s been a very emotional day. I will be having a very special live call. We are just inches away from getting that opera out for you guys. We are finally nearly there. My last call is Fri. 31 May 8:30 pm EST.”

Fri. 31 May 2024 MarkZ: Bond people have not yet been paid.

Everything on the new QFS either relates to gold, or it is backed by a precious metal. These new digital standard protocols will be the mechanism by which money is moved going forward. The future of money is in gold. Everything the world touches going forward will be because of a metal asset that enables it to do so.

Global Financial Crisis:

Australia’s Bankwest Bank has announced that it will close all its branches and ATMs by the end of 2024, in order to become a fully digital bank. Coming soon to a bank near you, as part of the globalist push towards programmable CBDCs.

Bank of America lost its case. SCOTUS decision just confirmed that the US has a dual banking system with Federal and State chartering. Let the decentralization of bank power begin.

Fri. 31 May 2024: RV GESARA! GCR Roadmap 5 & The Brewing Banking Sector Crisis: A Ticking Financial Time Bomb – American Media Group (amg-news.com)

~~~~~~~~~~~~~

US Debt Clock: May 26, 2024 We, The People, are the SOLUTION.

United USA Dollar = an asset-backed form of wealth preservation with a limited supply that appreciates over time. It is a transparent and verifiable real-world asset, serving as a debt-free currency payable to the bearer. This new USA Treasury certificate is backed by 100% of “We the People” assets, including gold, silver, copper, oil, gas, equity markets, agriculture, real estate, mining, and new energy sources like thorium.

Divided FED Dollar = an unsecured perpetual debt instrument representing an infinite supply of money that has never been audited. It functions as a mechanism for wealth redistribution, utilizing a secretive, leveraged counterfeit derivative known as the Federal Reserve note. This system’s origins trace back to 1913 when President Woodrow Wilson effectively transferred control of the U.S. financial system to bankers by establishing the Federal Reserve. These bankers use the Federal Reserve’s debt-based system as reserves. The Federal Reserve note, particularly after being removed from the gold standard in 1971, is backed by nothing tangible. This system was never intended to be repaid; rather, it was designed to transfer wealth to the top 1% and the bankers who convened at Jekyll Island. The division of the Federal Reserve Dollar arises from the extensive manipulation in the financial sector, leading to an unsustainable level of debt and an imminent financial bubble on the verge of bursting.

Read full post here: https://dinarchronicles.com/2024/06/01/restored-republic-via-a-gcr-update-as-of-june-1-2024/

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Courtesy of Dinar Guru: https://www.dinarguru.com/

Frank26 [Iraq boots-on-the-ground report] FIREFLY: The TV just said the main objective of the second phase of the banking system is to have the Iraqi dinar regain its former strength. They also said they are expecting the budget to be passed before the 9th of June. FRANK: They are telling you they are still on course to add value to your currency. Nothing has stopped... FIREFLY: They just said it that budget when approved will need a new rate to make it work correct. FRANK: Don't you love it when your leaders tell you their goal is to regain the value of your currency because this is what they promised you.

Mnt Goat I wanted to share an interesting conversation I had...with my CBI contact this past Wednesday...I was told that the committee to work on the Project to Delete the Zeros has sent the CBI prepared articles to the news media for the sake of educating the citizens on the upcoming process. However, they are dated and so they are for the near future and not for current news. Yes, they are getting ready and moving ahead.

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

LIVE! (Are You Ready For It?) A Hyper-Inflationary Event May Not Be Too Far Off.

Greg Mannarino: 5-31-2024

https://www.youtube.com/watch?v=TPWwdjktc9Q

Steve Forbes on The New Gold Standard with Guest Philip Patrick from Birch Gold

The Liberty Report: 5-31-2024

The New Gold Standard is coming, as told by famous economist Steve Forbes...Tune in to this Episode with Ron Paul and Special Guest Phillip Patrick from Birch Gold as they discuss the future of gold and the economy.

https://www.youtube.com/watch?v=zGEwb8xhzzM

Dinar Recaps 20 6/1/24 Dinar Recaps 20 6/1/24

MilitiaMan: IQD Update-Iraq Dinar-HoR under a gun - Monday 3:00 PM Baghdad Vote

IQD Update-Iraq Dinar-HoR under a gun - Monday 3:00 PM Baghdad Vote

MilitiaMan and Crew: 5-31-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

IQD Update-Iraq Dinar-HoR under a gun - Monday 3:00 PM Baghdad Vote

MilitiaMan and Crew: 5-31-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=9efJR7LHJU4

DINARRECAPS8 6/1/24 DINARRECAPS8 6/1/24

4 Purchases Financial Experts Regret and What They Wish They Had Spent Money On

Laura Bogart Thu, May 30, 2024

Financial advisors may know a lot of things about wisely spending money, but they don’t know everything. Even the best educated, most experienced and all around savviest financial expert is still, at the end of the day, a human being trying to make the best decisions based on the information they have on hand.

Sometimes, these advisors regret their decisions in hindsight. And sometimes, looking back on the purchases they regret the most will teach the experts in a more intimate way than they’d get in their studies or on the job.

GOBankingRates talked to some financial experts about the purchases they most regret and what they now wish they’d purchased instead.

Investing In a Startup

As the co-founder and CEO of Reliant Insurance Group and Helping Hand Financial, Ben Klesinger is a seasoned financial professional. But that doesn’t mean that he didn’t have to acquire some of his expertise the hard way by making investments he would come to regret.

4 Purchases Financial Experts Regret and What They Wish They Had Spent Money On

Laura Bogart Thu, May 30, 2024

GOBankingRates talked to some financial experts about the purchases they most regret and what they now wish they’d purchased instead.

Investing In a Startup

Early in his career, Klesinger invested heavily in what he called “a promising but unproven fintech startup.” Citing generally high levels of enthusiasm for technology, he put in about $200,000 of his own capital. Though he expected to see quick returns, what he got was a whole lot of headaches.

“The startup struggled with regulatory issues and market competition. In the end, we lost nearly the entire investment,” he said. “I learned the hard way that even if a business idea sounds revolutionary, proper due diligence is indispensable.”

In hindsight, Klesinger wishes he’d applied a more balanced approach, like investing in a diversified portfolio of mutual funds or even tech-focused ETFs, which would have allowed him to get exposure to the tech sector without taking on such a high risk.

A Fancy Car

Like many people who have worked hard and want to show off their success, Klesinger once purchased “an extravagant car” that he also hoped would serve as a solid investment. Unfortunately, that car which cost him $150,000, ultimately proved more trouble than fun by depreciating much faster than he anticipated.

“The maintenance costs also piled up, diminishing the overall value,” he said. “I realized afterward that investing the same amount in rental properties or a mix of dividend-yielding stocks would have generated consistent income and appreciated over time.”

DINARRECAPS8 5/31/24 DINARRECAPS8 5/31/24

Iraq Economic News and Points To Ponder Friday Evening 5-31-24

Parliamentary Finance Announces Its Readiness To Present The Final Report On The Budget Schedules In Next Monday’s Session

Friday 31, May 2024 | Economical Number of readings: 176 Baghdad / NINA / The Parliamentary Finance Committee confirmed its readiness to present the final report on the budget schedules in next Monday’s session.

The head of the committee, Atwan Al-Atwani, said in a statement, “His committee has been continuing for days to study and review the 2024 budget schedules, in detail, in order to complete them in the optimal manner, and to ensure the necessary financial allocations for all sectors.”

He pointed out that “a series of intensive meetings were held, which witnessed the hosting of the relevant ministers,” indicating that “the committee is about to complete the task of discussing and reviewing the details of these schedules, in a manner consistent with the federal general budget law for the years (2023-2025).”

Iraq Economic News and Points To Ponder Friday Evening 5-31-24

Parliamentary Finance Announces Its Readiness To Present The Final Report On The Budget Schedules In Next Monday’s Session

Al-Atwani confirmed that “Parliamentary Finance is ready to present its final report to the House of Representatives in next Monday’s session designated for approving the budget schedules and its annexes.”

He pointed out that "the committee is keen to enable the federal government to implement its service and development plans and programs in a manner consistent with its government program that the House of Representatives voted on."/ https://ninanews.com/Website/News/Details?key=1129845

Al-Sudani: The Path Of Development Will Restore Iraq's Historical Role In Global Trade

Economy | 05/31/2024 Baghdad - Mawazine News Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that the development road project means, according to current market equations and international trade movement, a link between the East and Europe through Iraqi and Turkish lands together.

Al-Sudani, during an interview conducted by Anatolia Agency, said: In the beginning, we must look historically at Iraq’s role in trade between the East and the West over many centuries, and I am not exaggerating if I say that since prehistoric times, Mesopotamia has been an easy trade corridor whose paths trade caravans prefer to follow. And standing and trading with its metropolises, cities and urban centres.”

He stressed that the path of development is essentially to restore this historical role, and the link between the port of Al-Faw and the Turkish border, according to the current market equations and the international trade movement, means a link between the East and Europe through Iraqi and Turkish lands together.”

The Prime Minister of Iraq explained that the region is witnessing conflicts and tensions that recede at times and escalate at other times, and this prompts us to focus efforts on projects that overlap in interests and overlap in benefits.

He added: The Development Road will provide an opportunity for the emergence of industrial cities on both sides of it, which will complement the trade passing through it. Later this year, we will inaugurate the first berths at Al-Faw Port, and the flow of goods through the Development Road route will begin initially.”

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

Regarding the future volume of bilateral trade between Turkey and Iraq, which is currently estimated at about 20 billion dollars, the Prime Minister of Iraq said: The increase in the volume of bilateral trade with Turkey can be expanded vertically, but we are seeking vertical expansion as well. In short, this is the role of the Development Road Project and the projects attached to it. “.

He added: Experience and history have proven that the progress of a country alone and in isolation from its neighbourhood, is something that carries an unknown future despite all possibilities and conflicts. Therefore, we focus on increasing the capacity of exchange and actual partnership (with Turkey) is the guarantor of stability and deep, long-term relations.

He continued: In our relationship with our Turkish brothers, we also focused on one of the most promising sectors in investment and cooperation, which is the agricultural sector, and soon we will witness practical steps in this aspect, and the participation of Turkish companies.”

Regarding investments in Iraqi gas fields, the Prime Minister of Iraq said, in his interview with Anadolu: “Gas investment is a strategic test for Iraq, and our national wealth must be optimally employed in serving our people and development plans.”

He added: It is not possible to continue burning gas, firstly due to the waste of this wealth that can be benefited from, and secondly due to the environmental effects. We announced a special round of licenses to invest in gas fields.

He continued, saying: We plan for Iraq to be self-sufficient in domestic gas production within 3 years, and Iraq is moving confidently to be an important element in the gas market within 5 years, and we will achieve self-sufficiency in this material at the expense of electricity production.

Regarding potential partnerships in these investments, the Prime Minister of Iraq indicated that the doors are open to every reputable and specialized company that wishes to participate in this sector, and we also welcome regional companies because they will expand the base of cooperation in other areas.

Regarding the flow of Iraqi oil, the Iraqi Prime Minister explained that stopping the pumping of Iraqi oil extracted from the fields of the Kurdistan region of Iraq is undoubtedly a loss for Iraq, and at least it is the loss of an expected benefit that can support development plans in the provinces of the region and strengthen the Iraqi economy as a whole.

He added: He added: We took the initiative to find acceptable settlements and legal solutions and solutions after a thorough legal study, but the matter is surrounded by a legal obligation, because the Federal General Budget Law requires calculating the cost of producing one barrel of oil in all fields to be within the national average of the cost of production, which is around $8 per barrel, according to what was announced. Federal Ministry of Oil.

The Prime Minister of Iraq continued, saying: From this standpoint, companies stopped production, as the ban did not come from the federal government, and we are waiting for a solution to be found. The companies refused to amend the contracts, while the regional government agreed.

He explained that for these reasons, more work is required to find a legal solution that first ensures the rights of Iraq and its people to its wealth.

He added: As for transporting Basra oil through Turkish ports, the matter is subject to study and determining the economic feasibility first of all.

According to previous statements by Al-Sudani, Iraq intends to be self-sufficient in oil derivatives, stop imports, and save $3.2 billion. https://www.mawazin.net/Details.aspx?jimare=248956

Oil Declines After A Sudden Rise In US Gasoline Stocks

Friday 31, May 2024 | Economical Number of readings: 241 Baghdad / NINA / Oil prices fell today, Friday, in the wake of a sudden rise in US gasoline inventories and amid indications that it is unlikely to start lowering interest rates.

Brent crude futures fell 12 cents, or 0.15 percent, to trade at $81.74 a barrel, and US West Texas Intermediate crude fell 17 cents, or 0.22 percent, to $77.74.

This decline in prices comes in light of statements by Lori Logan, President of the Federal Reserve Bank in Dallas, about the possibility of rising inflation despite the slowdown in the recent period, warning that the US Central Bank needs to be flexible and keep “all options on the table” while monitoring... “Data determines how to respond.”

Meanwhile, the US Energy Information Administration reported that gasoline inventories rose against expectations that demand will be higher before the weekend.

Inventories rose by two million barrels during the week, to 228.8 million barrels, compared to expectations of a decrease of 400 thousand barrels./End 2 https://ninanews.com/Website/News/Details?key=1129766

The Central Bank Announces Raising The Amounts Allocated For Housing Loans

Economy | 05/31/2024 Baghdad - Mawazine News The Central Bank announced today, Friday, raising the amounts allocated for housing loans to 3 trillion dinars.

The bank stated in a statement received by “Mawazine News”, that “based on the strategic vision and main objectives of the Central Bank of Iraq in working to promote sustainable development and prosperity and achieving well-being for citizens, the most prominent of which is the provision of adequate housing, and in a way that contributes to the growth of urban expansion and urban development,

it decided The Board of Directors of the Central Bank of Iraq issued a number of decisions that would provide additional amounts amounting to about (3) trillion dinars, which in turn will be reflected in the response to housing borrowing requests by citizens through (the Real Estate Bank and the Iraqi Housing Fund) in a facilitating manner, in support of the government’s directions in "This regard."

The statement added, “The Central Bank of Iraq directed the management of both the Real Estate Bank and the Iraqi Housing Fund to develop a well-thought-out plan for housing lending, through which it will receive requests from citizens wishing to borrow, in light of the government’s directives and in accordance with the contexts and regulations in force in each of them, taking into account Priorities in this regard, in a way that achieves the principle of justice among citizens, especially completed or under-complemented transactions.”

At the same time, the Board of Directors of the Central Bank of Iraq called on the government and the House of Representatives to provide support to the Real Estate Bank and the Iraqi Housing Fund, by allocating an annual amount within the federal general budget to enhance the capital of each of them, allowing them the opportunity to implement their policy of granting housing loans to citizens. https://www.mawazin.net/Details.aspx?jimare=248935

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

Provoking Thoughts and Points To Ponder on Failures and Mistakes

The man who has done his level best, and who is conscious that he has done his best, is a success, even though the world may write him down a failure.- B. C. Forbes

Good judgment comes from experience, and experience comes from poor judgment.- Anonymous

Life is very interesting, if you make mistakes.- Georges Carpentier

When I have listened to my mistakes, I have grown.- Hugh Prather

Mistakes and errors are the discipline through which we advance.- William Ellery Channing

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

http://famousquotesandauthors.com/quotes_by_topic.html