KTFA Members "News and Views" Thursday 12-1-2022
KTFA:
Inneedofgrace: Our Federal reserve is our central bank, and privately owned. There are central bank all over the world and are they privately owned? Is the Central bank of Iraq the same? if not how?
DayTrader: This information comes from https://rightedition.com/2019/10/21/who-owns-the-worlds-central-banks/; I can’t vouch for the accuracy. There's much more information on this link, and others.
While state-owned central banks now predominate, some central banks still have forms of private sector shareholding. These include central banks in the United States, Japan and Switzerland. Figure 3 classifies these central banks according to whether they are owned by government, private sector banks, other private sector shareholders, or some combination of these.
‘Other private sector shareholders’ means individuals and/or non-bank private sector institutions. The European Central Bank (ECB) represents a fourth ownership model not adequately captured by Figure 3, as it is established by treaty among EU member states.
Daytrader cont:…..Besides the ECB, other supra-national central banks include the Eastern Caribbean Central Bank, the Bank of Central African States and the Central Bank of West African States.
As information, the CBI is wholly owned by the State Republic of Iraq
CENTRAL BANK OF IRAQ | Central Bank of Iraq (cbi.iq)
Head Office: P.O. BOX 64 Al-Rasheed Street, Baghdad, Iraq
Telephone: +964 1 816 5171 to 4 Line
Website: http://www.cbi.iq
E-Mail: cbi@cbi.iq , cbi@cbiraq.org
Status: State Central Bank : Government Bank
Ownership: Wholly – Owned by the State Republic of Iraq
~~~~~~~~~~
The Snod: If I may, to add to Daytraders astute link:
From Wikipedia
After World War I and the dissolution of the Ottoman Empire, Iraq's monetary system was administered by the British Mandate of Mesopotamia until 1931, when the Iraq Currency Board was established in London to issue the new Iraqi dinar and maintain its reserves.
I don’t have enough room to post my own studies on this over the years, yet IMHO these old British/London/EU banking powers via crossover trusts etc., are the one’s that really own all these “Central Banks” of this category including the Fed Reserve, BIS, IMF, and World Bank.
I also point to The Vatican as well because they got in bed with the Bank of England a few centuries ago, and they are all tied into this structure as well. Personally, I think those two are at the top of this interconnected food chain.
They may say “State Bank,” in regards to Iraq, but these are merely words.
This is one of the reasons why I got into this investment and stayed with it for 12 years. These immensely powerful people who are also a very influential part of the “Industrial/Military Complex” of the USA, and give a bazillion dollars for President’s to run for office, are not going to get punked by thieving Iranian sects forever through a multicurrency system.
This is about power and money, and the best way to control what is really their money is to go back to a single, convertble currency, and change up that currency auction to adapt or disappear from the processes.
Have you noticed, it has been The IMF/World Bank/USA/UN that come in there to set up the monetary reform, and depose politicians that aren’t on the agenda now? It’s because…They are one and the same. Blessings.
************
Clare: Parliament announces the agenda for the next Saturday session (completion of the ministerial cabinet)
12/01/2022
The House of Representatives announced its agenda for its session for next Saturday, which includes 9 paragraphs, the most prominent of which is the completion of voting on the cabinet. LINK
************
Clare: Economist: Trade exchange between China and Iraq will reach 44 billion dollars
12/01/2022
On Thursday, economic expert Nabil Al-Marsoumi said that Iraq may have crossed the red line in its relationship with China, indicating that the volume of trade exchange between the two countries will exceed $44 billion by the end of 2022.
Al-Marsoumi said in a post on Facebook, "The US Pentagon warned Iraq and other countries in the Middle East against continuing broad cooperation with China because of its negative repercussions on the United States."
He added, "China is Iraq's largest trading partner, as trade dealings between them reached $33.7 billion during the first ten months of this year, which means that it could reach more than $40 billion at the end of 2022."
He explained that "Iraq's exports to China are concentrated in crude oil, while Iraq imports various types of Chinese commodities," noting that "Chinese companies enjoy extensive business in Iraq in the field of infrastructure, construction and energy, and they are the main operator in five Iraqi fields: Rumaila and West Qurna." 1/ Maysan, Halfaya and Al-Ahdab, in addition to transferring a number of other oil and gas fields to Chinese companies, including the Mansouriya gas field, and the Al-Faw strategic refinery was
also transferred to it, in addition to large and wide works in the field of oil services. LINK
************
Henig: Gold shines with the weakness of the dollar
11/30/2022
{Economic: Al Furat News} Gold prices recorded slight gains, on Wednesday, supported by the decline in the dollar, as investors focused largely on the speech of Federal Reserve Chairman Jerome Powell, in pursuit of any indications on the path of monetary policy of the US Central Bank.
The dollar index fell 0.2 percent, making bullion less expensive for holders of other currencies.
All eyes are on Powell's speech at the Brookings Institution, scheduled for 1830 GMT, for any fresh clues about the Fed's plans to raise interest rates next year. Investors are also awaiting the US employment report, which will be released on Friday.
Edward Meer, an analyst at ED&F, said Powell's speech was the main focus of the market.
Spot gold rose 0.2 percent to $1,752.95 an ounce at 0605 GMT. US gold futures rose 0.3 percent to $1,768.20.
Among other precious metals, spot silver fell 0.1 percent to $21.23 an ounce, platinum increased 0.5 percent to $1,007.75, and palladium rose 1.2 percent to $1,855.25 an ounce. LINK
Toyvp: Foreign trade may hit record of US$780 billion in 2022
December, 01/2022 - 08:32
Surmounting difficulties to boost economic recovery, Việt Nam is expected to post a foreign trade record of US$780 billion in 2022.
HÀ NỘI — Surmounting difficulties to boost economic recovery, Việt Nam is expected to post a foreign trade record of US$780 billion in 2022.
Economic experts described the export and import panorama as highly positive, as two more groups of commodities – transport vehicles and spare parts, and fishery products – have seen 11-month export value of over $10 billion, while imports of materials for manufacturing have also surged.
By the end of November, exports and imports totalled $673.82 billion, higher than the $668.54 billion for the whole 2021. Trade surplus stood at $10.6 billion, compared to the $0.6 billion in the same period last year, according to the General Statistics Office.
The Ministry of Agriculture and Rural Development said China’s rice imports have shifted from low to high volume in the year-end period. Some EU countries also tend to import more rice to replace the wheat supply decline caused by the Russia - Ukraine conflict.
This has helped raise Vietnamese rice prices to $480 per tonne, $13 - 28 higher than Thai rice and $60 - 65 higher than the Indian grain, thus substantially contributing to this year’s export growth.
Besides, products of the processing and manufacturing industry have also enjoyed growth of 6 - 39.9 per cent in overseas shipments, helping turn export into a “bright spot” of the economy in 2022.
Assoc. Prof. and Dr. Nguyễn Thường Lạng from the Hà Nội-based National Economics University predicted that although export growth has slowed down slightly compared to the whole-year pace, foreign trade turnover will hit a record of about $780 billion in 2022.
This is a stepping stone for Việt Nam to achieve $1 trillion in trade revenue by 2025, he added.
Vũ Tuấn Anh, President of the Junior Chamber International Việt Nam, held that foreign direct investment remains the key driver of foreign trade. Meanwhile, processed and manufactured items are still key commodities, aside from textile-garment and agro-forestry-fishery products, of which timber, wood items, seafood, coffee, rubber, cassava, rice, vegetables, and fruit have generated a high trade surplus.
$10.6 billion trade surplus in 11 months
Việt Nam recorded a trade surplus of $10.6 billion in the January-November period, the General Statistics Office announced on Tuesday.
In November, the import-export turnover is estimated at $57.58 billion, down 1.2 per cent month-on-month and 7.8 per cent year-on-year, bringing the total value in the first 11 months to $673.8 billion, up 11.8 per cent year-on-year.
In the period under review, the export revenue is estimated at $342.2 billion, up 13.4 per cent y-o-y, and import at $331.6 billion, up 10.1 per cent.
Thirty-five commodities report an export turnover of more than $1 billion each, with eight surpassing the $10-billion- mark, accounting for 93.7 per cent and 70.1 per cent of the total, respectively.
Forty-five products saw an import value of over $1 billion, and six over $10 billion, making up 93.2 per cent and 52.3 per cent of the total, respectively.
The US is Việt Nam’s biggest importer in the period, with a turnover estimated at $101.5 billion, while China is the country’s largest exporter, with $109.9 billion.
In the period, Việt Nam also recorded a trade surplus of $29.4 billion with the European Union, and a trade deficit of $56.9 billion with China.
To promote exports, Deputy Minister of Industry and Trade Đỗ Thắng Hải said that in the last month, the ministry will focus on supporting businesses in finding alternative suppliers of raw materials with suitable prices to ensure sufficient raw materials and fuel for production and consumption, and to make good use of signed free trade agreements to speed up production and export.
The facilitation of administrative procedures for enterprises will be further promoted through the application of digitalisation, typically in tax refunds, import and export customs, and issuance of the Certificate of Origin. — VNS
https://vietnamnews.vn/economy/1400332/foreign-trade-may-hit-record-of-us-780-billion-in-2022.html