More News, Rumors and Opinions Sunday Afternoon 11-6-2022
KTFA:
Samson: Has the Ministry of Finance determined the price of a barrel of oil in the 2023 budget?
06/11/2022 17:24:25
An informed source revealed today, Sunday, the actual start of the Ministry of Finance to prepare a draft federal budget law for the year 2023.
The source stated {to Al-Furat News} that: "The Ministry of Finance has started the first steps, meetings and preparations for the ministries concerned with preparing the draft budget law."
The source added, "So far, the price of a barrel of oil that will be approved, or the initial budget figure, has not been determined."
A member of the Finance Committee, Jamal Cougar, revealed the features of the 2023 budget, stressing that it will approach from 130 to 150 billion dollars, at a fixed exchange rate based on the price of crude between 70 to 75, and that it will be a different investment budget to provide services, meaning that it will be a real budget. LINK
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Courtesy of Dinar Guru
Frank26 Article: "Al-Sudani resolves the position on the re-change of the dollar exchange rate and calls the term “corruption pandemic” Quote: "And on the financial budget for 2023, the Prime Minister announced that he "directed all ministries today to prepare the 2023 budget and determine its priorities, as we are keen to present the budget as soon as possible." WHICH ALSO MEANS PRESENTING THE NEW EXCHANGE RATE AS SOON AS POSSIBLE.
Pimpy Once again they are talking about changing the exchange rate. The interesting thing...is the back and forth about whether or not they're going to do it...Sadr as...the Coordinating Framework...[made] promises to do something about the exchange rate if they control the government. But we do know the decision is not up to the Iraqi government. It's up to the Central Bank of Iraq to make those decision.
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TNT:
Harambe: Iran’s Rial Slumps to Record Low Amid Protests, Nuclear Talks | Bloomberg
11/5/22
The Iranian rial fell to its lowest level ever recorded in the country’s unregulated, open market on Saturday as protests against the government continued and hopes of reviving the nuclear deal remained slim.
The rial slumped to an average of 363,500 to the US dollar, according to two exchange shops in the capital Tehran and local websites monitoring foreign currency prices. The rial has lost more than 40% against the dollar since August 2021, when ultraconservative cleric Ebrahim Raisi, who had pledged to rein in a turbulent currency market, was sworn in as Iran’s new president.
The rial’s plunge comes as the regime has struggled to quell anti-government protests that began in mid-September over the death in custody of 22-year-old Mahsa Amini after she was arrested for allegedly breaching the country’s Islamic dress codes.
The depreciation can be attributed in part to a lack in progress in reviving the Iran nuclear deal, which would end sanctions against the regime in return for a commitment to curb its nuclear program, a foreign currency trader who asked not to be identified said in a phone call with Bloomberg News. The currency is also suffering from heavy capital outflows from the stock market as Iranians look to raise cash to buy foreign currency to hedge against economic and political instability, the person said.
China & Saudi Arabia Already Unleashed Hell On The Dollar, Now The Whales Are Next | Peter Schiff
Two Dollar Investing: 11-5-2022
China & Saudi Arabia Already Unleashed Hell On The Dollar, Now The Whales Are Next | Peter Schiff Peter Schiff warns of the incoming sell off of the century
The U.S. buys Russian oil to sell to Europe!
Deepin Moments: 11-6-2022
A recent media report reveals how Russian oil bypasses sanctions and ends up in the United States: First, it should be clear that the U.S. sanctions against Russia are on crude oil, not refined products. Second, Lukoil, Russia's second-largest oil company, is not on the U.S. government's sanctions list, and the EU embargo on Russian oil is not yet fully in effect.
Lukoil has the fifth-largest refinery in Europe, the Sicily refinery in Italy, which has processed crude oil from several countries, 93 percent of which is imported from Russia. Under sanctions, U.S. refineries cannot process Russian crude oil, but Italian refineries can.
After refining at the Italian refinery, the country of origin of the oil "changed" from Russia to Italy. The media said this is a method that has long been used to tamper with the origin of oil.
Finally, the refined product enters ExxonMobil and Lukoil plants in New Jersey and Texas and is distributed to Lukoil stations in 11 U.S. states, completing the importation of oil into the United States.