More News, Rumors and Opinions Friday PM 1-12-2024
KTFA:
Clare: Abdul Wahid: Iraq loses $21 billion annually due to currency differences, and Parliament will host the responsible parties
1/12/2024
Member of the Parliamentary Integrity Committee, Sarwa Abdel Wahed, revealed today, Friday, that Iraq loses more than 21 billion dollars annually due to currency differences, stressing that Parliament will host the responsible parties to put an end to this theft.
Abdel Wahed said in a blog post on the X website. , “Iraq loses $21 billion annually due to currency differences, and this is the largest clear theft in the country’s history, at a time when the government and the central bank are unable or unwilling to control the parallel market.
She pointed out that “Iraq’s oil is sold in dollars, and the government and the central bank count every 100 dollars as 132 thousand dinars. In the currency difference for selling oil alone, Iraq loses more than 21 billion dollars, and there are similar amounts in the currency difference, and the only beneficiaries are parties, companies, and affiliated banks.”
To influential figures. She added , “Parliament, in its new legislative term, must put an end to all these public thefts.” LINK
Clare: The profits of two major banks in America declined by more than $5 billion
1/12/2024
Today, Friday, the results of the operations of two major American banks revealed a slowdown in their profits in the last quarter of last year, amounting to more than $5 billion, against the backdrop of the contribution to refinancing the main fund of the Federal Deposit Insurance Corporation after the bank collapses last year.
This concerns JP Morgan and Bank of America, which are two of the largest American banks.
JP Morgan said on Friday that its quarterly profits declined in the last quarter of 2023, following the allocation of $3 billion to help refinance the Deposit Insurance Fund.
The American bank's quarterly profits fell to $9.31 billion, down from $11.01 billion in the corresponding quarter of the previous year, while profits for the entire year reached a record level of $49.6 billion.
JP Morgan's revenues increased by 12 percent to $38.57 billion during the fourth quarter of the year on an annual basis.
Earnings per share fell to $3.04 per share during the last quarter, from $3.57 in the last quarter of 2022, compared to expectations of $3.32.
Bank of America's profits fell sharply in the last quarter of 2023 on an annual basis, after it incurred fees worth $2.1 billion to refinance the government deposit insurance fund.
According to the financial report of the second largest American bank, issued today, Friday, net income fell by more than 50 percent to $3.1 billion in the fourth quarter of last year, compared to $7.1 billion in the corresponding quarter of 2022.
Bank of America's earnings per share decreased to 35 cents per share in the last quarter, from 85 cents in the last quarter of 2022, while net interest income fell by 5 percent to 13.9 billion dollars during the same period, due to the rise in deposit costs and the decrease in their balances, erasing the increase. Realized asset returns. LINK
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Question: "Why would Iraq give the date of January 15th when they have tried to keep the timing of everything else a secret?" They're not telling you that's when they're going to reinstate their currency. They're telling you that's when their currency will go international. Now the question is at what rate?
Mnt Goat ...in my conversation with my CBI contact on my Wednesday call...We...talked about...the monetary reform and where it stood. I was told it would take some time, maybe weeks or months even for the currency swaps to take the needed effect in leveling out the parallel black market rate for the dollar. But my contact seemed very optimistic that the plan now in place could move this rate quicker than expected even. But I was warned not to expect instant success as there is still a period of monitoring it for wide swings, in other words it needs to be stable...We can see that there has been more progress towards currency reform in the last 12 months than in the twenty years combined.
The US and UK BOMB MULTIPLE TARGETS In The Middle East... Crude SURGES. CRITICAL UPDATES!
Greg Mannarino: 1-12-2024
US Banks Report Skyrocketing 'Wall Of Debt' As Massive Loan Defaults Continue
Atlantis Report: 1-11-2024
In the midst of holiday festivities that captivated the attention of many, a seismic shift silently unfolded within the intricate web of the global banking sector. The evolving narrative tells a tale of banks tightening their fists, shutting down branches, and adapting to the evolving digital landscape.