More News, Rumors and Opinions Saturday PM 8-17-2024
KTFA:
Clare: Iraq "Moves to Profit-Sharing" in New Oil Contracts
17th August 2024
By Charles Kennedy for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.
Iraq Moves to Profit-Sharing Terms in New Oil and Gas Contracts
Iraq seeks to attract more investment in its oil and gas industry by moving to profit-sharing contracts for new bid rounds from the technical service contracts it has awarded so far.
Clare: Finance: The Accounting Department begins working with the electronic issuance verification system (QR)
8/17/2024 Baghdad - WAA
The Ministry of Finance announced, today, Saturday, that the Accounting Department has started working with the electronic QR system regarding withdrawing amounts.
The ministry said in a statement received by the Iraqi News Agency (INA): "The Accounting Department has started working with the electronic check-in system using (QR code) regarding withdrawing amounts," noting that "the financing platform is currently limited to answering inquiries from spending units for the financing process in ministries, governorates and entities not affiliated with a ministry."
It added that "this comes within the framework of the government's orientation to simplify government procedures, reduce time and effort, in addition to reducing administrative momentum in institutions, and moving away from paper transactions." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Article: "Baghdad investigates the region's salaries and sends a monitoring committee to audit the 'spacemen' " The corrupt are going to get exposed. Paying double and or to fake people is not going to fly with the new systems in place. Skimming off the top is going to have to stop. I would suspect it will quickly too...
Frank26 Question: "As far as the training videos, are there any more subjects remaining with the RI and monetary reform that the Iraqi have not seen?" Yes. Right now they're teaching them about the float. They hadn't seen that up until two days ago.
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Shocking! 159 Countries Adopting BRICS New Payment System! What's Next?
We Love Africa: 8-17-2024
Do you know what shocks will be given to the West at the Brics Summit 2024?
As of now, the world seems to be busy with broader political issues. However, Brics has been working secretly and as of now, it not only has put a new payment system in place but is attracting hundreds of countries
. It’s just unbelievable that 159 out of the 195 countries of the world have already committed to adopting this new Brics payment system.
What does that mean for the West-dominated SWIFT payment system?
What are these countries that are joining hands with Brics against the West’s bullying payment system?
Bigger Banking Crisis Than '08 When Amid Dollar Crisis | Matthew Piepenburg
Liberty and Finance: 8-17-2024
Matthew Piepenburg discusses the recent Yen crisis which led to a world-wide market panic.
He notes that when the Dollar enters a similar crisis, the U.S. could face a banking crisis worse than 2008.
Owning gold has a record of preserving purchasing power through inflationary times, he notes.
INTERVIEW TIMELINE:
0:00 Intro
1:34 Yen crisis
13:30 Currency destruction
24:50 1929 parallel
35:10 Owning gold