Bits and Pieces in Dinarland Sunday Night 2-13-2022
KTFA:
Samson: The Ministry Of Foreign Affairs Announces The Launch Of The First Conference On Iraq’s Debts To International Organizations
13th February, 2022
On Sunday, the Ministry of Foreign Affairs announced the launch of the work of the first meeting to study the repayment of Iraq’s debts to international and Arab organizations.
The ministry said, in a statement received by the agency / Information /, a copy of it, that “Qahtan Taha Khalaf, Undersecretary for Multilateral Affairs and Legal Affairs, chaired the first meeting of the Committee to Study Iraq’s Financial Obligations in Arab and International Organizations, in the presence of Jassim Muhammad al-Halbousi, Deputy Secretary-General of the Council of Ministers, And in the presence of members of the Diwaniyah Order Committee No. (6) of 2022, at the headquarters of the Ministry of Foreign Affairs.
The meeting dealt with “the issue of Iraq’s financial obligations to Arab and international organizations and the development of a mechanism for their timely payment.”
The first meeting resulted in “scheduling the upcoming meetings, as well as collecting basic data for the purpose of studying them.
The meeting included a proposal to arrange the schedules in terms of financial obligations and according to the opinion of the competent ministry.” According to the statement. LINK
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Courtesy o Dinar Guru
Clare Article: "U.N. Security Council Votes to Remove Iraq from Chapter VII Sanctions" Quote: "The 15-member United Nations Security Council unanimously agreed on June 27, 2013 to remove Iraq from Chapter VII sanctions" IMO THIS IS AN ANNOUNCEMENT OF THE DISSOLUTION OF THE COMMITTEE FOR THE PAYMENTS BECAUSE PAYMENTS ARE DONE! … LIKE THE ARTICLE HAS SAID … THAT IS DIRECTLY FROM THEM… THE DETAILS SURROUNDING ALL OF IRAQ’S FILES WITH THE UN – NONE OF US REALLY KNOW…YES…. WHAT HAPPENS ON 2/22/22 REMAINS TO BE SEEN...IT IS AN INTERESTING DATE FOR SURE!
Fleming ...Iraq is losing $100 M a day with the presently devalued Dinar. Oil is now, $93. Selling at this price with the present Dinar can’t be sustained. Iraq can RV anytime. Today, tomorrow, is on the table...Now that Iraq’s presidential election is solved we are looking at $3.20 immediately. This will float up quickly. Will we hear about Iraq’s new currency before Wednesday? The IMF likes the 1st and the 15th for announcing new rates...The End is Near...
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The Death of the Dollar Approaching , this is How you Protect Your Assets
The Nomad Economist: Premiered 43 minutes ago
It is well known to those who follow what is happening, that the dollar is on the way out of world reserve status.
Washington and Wall Street will ride this horse until it drops dead.
In Fact, a number of financial counselors are predicting the demise of the dollar as the world's basis for currency exchange. It seems that a number of people are aware that China, Japan, Russia, France are making definite moves in that direction.
Brazil and Argentina, as well a Cuba, are all in the same camp. When will Washington and Wall Street wake up?
I believe the U.S. is in the midst of a major currency collapse and a huge change in our normal way of life.
Recent data on currency reserve holdings among global central banks suggests this shift may already be underway.
As a share of overall central bank reserves, the U.S. Dollar's role has been declining ever since the Great Recession. The most recent central bank reserve flow data also suggests that for the first time since the Euro's introduction in 1999, central banks simultaneously sold dollars and bought euros.
Central banks across the globe are also adding to gold reserves at their strongest pace on record. 2018 saw the strongest demand for gold from central banks since 1971, and a rolling four-quarter sum of gold purchases is the strongest on record.
To us, this makes sense: gold is a stable source of value with thousands of years of trust among humans supporting it.
Our government has been borrowing so much money, that soon, we will not be able to afford even the interest on the loans.
Income tax receipts are roughly $900 billion a year. Corporate taxes are roughly $200 billion annually. Our current annual deficits are nearly $1.3 trillion, meaning we’re spending $900 billion + $200 billion + $1.3 trillion = $2.4 trillion.
Even if you doubled tax revenue, we would still be running a deficit! Even if all U.S. citizens were taxed 100% of their income, it would still not be enough to balance the Federal budget!
Tax increases will not even make the smallest dent on the true size of our debt. There is not a single credible plan, by any political party, to merely end our annual deficits, never mind actually paying back our debts.
Here's the kicker, the costs of maintaining our debts are about to skyrocket. For years, the Federal Reserve has been keeping interest rates very low, to almost zero, and as a result, the interest rate at which the U.S. government borrows money from the Federal Reserve is an incredibly low level.
This won't last forever. How much interest? Right now, we're paying about 15% of federal tax receipts (about $200 billion a year). If the government had to spend a 'real' market-based rate of interest, say 6%, it would cost $840 billion a year on interest (76% of tax receipts), just for what we owe right now, today.
We are trapped.
The main-stream-media does not want you to know how precarious our government's finances really are. Today, the dollar is based not even on hot air and is worth less than the paper it is printed on.
The US GDP is US$ 21.1 trillion in 2019 (World Bank estimate), with current debt of 22.0 trillion, or about 105% of GDP. The world GDP is projected for 2019 at US$ 88.1 trillion (World Bank). According to Forbes, about US$ 210 trillion are “unfunded liabilities” (net present value of future projected but unfunded obligations (75 years), mainly social security, Medicaid and accumulated interest on debt), a figure about 10 times the US GDP, or two and a half times the world’s economic output.
This figure keeps growing, as interest on debt is compounded, forming part of what would be called in business terms ‘debt service’ (interest and debt amortization), but is never ‘paid back’.
addition, there are about one to two quadrillion dollars (nobody knows the exact amount) of so-called derivatives floating around the globe.
Aderivative is a financial instrument which creates its value from the speculative difference of underlying assets, most commonly derived from such inter-banking and stock exchange oddities, like ‘futures’, ‘options’, ‘forwards’ and ‘swaps’.