More News, Rumors and Opinions Thursday Afternoon 12-1-2022
TNT:
Carlosisan: Good afternoon tnt fam. - here we are, Dec 1st and everything is status quo. Same song, different lyrics.
Yada: Ah, but it is not the same song. The only thing that is the same is we are not at the banks yet BUT,,,their government is formed, they are sovereign, they have conditioned a budget that is pleasing to most of the country including Kurdistan, the UN-US-EU are pushing them to get it done. If we are waiting for the budget, it is to be submitted by the 8th and since their final session is the 10th, they will get it passed.
Yada: And as Tony stated yesterday on the call, technically, the CBI doesnt have to wait until it is passed and CAN release it at any moment. Contracts have been negotiated, Iraqi banks are set to be activated, and a recent article stated the banks will not issue any new credit until after the 1st of the year ie, when the 23 budget is set to be activated with the oil and gas law and article 140.
Yada: I hate waiting all this time but considering all that has transpired the past 10 years, those who had power have been dethroned and finally, they are doing what was to have happened 18 years ago. To think 90% of you here would of missed it if they did go back then. AND not have all the knowledge to act on our new wealth once we have it thanks to Tony and Ray. We are the new wave of Millionaires in the US in an economy with high inflation.
Greyeagle1: Rasheed Bank and the Iraq Trade Bank suspend issuing credit until after the first of the year. Hmmmm !!! maybe prelude to RV?
RoraH: Greyeagle1....My rose colored Dinarian glasses are looking at it like that! But as I recall those banks have done the same thing for the past several years and no RV. So we shall see. As Ray frequently tells us "time will tell"! :thanks:
RVAlready: I believe in the RV, because I think it has to happen. I see no way to a viable recovery without an RV/GCR.
************
CandyKisses: More than $8 billion in Iraq's oil exports in a month
The Ministry of Oil announced on Thursday that the revenues achieved from its oil exports for the month of November amounted to more than 8 billion dollars.
The ministry said in a statement reported to Shafaq News Agency that "according to the preliminary statistics issued by the Iraqi Oil Marketing Company "SOMO", the total amount of exports of crude oil (99) million (867) thousand and (946) barrels, revenues amounted to (8,231) billion dollars. "
She added that "the total quantities exported of crude oil for the month of November from the oil fields in central and southern Iraq amounted to (97) million and (204) thousand and (696) barrels, while from the fields of Kirkuk through the port of Ceyhan, the quantities exported amounted to two million and (363) thousand and (20) barrels."
She pointed out that "the average daily quantities amounted to (3) million and (329) thousand barrels per day, indicating that "the average price per barrel amounted to more than (82,416) dollars."
Iraq exports crude oil from its southern fields through the ports of the Arabian Gulf, while oil is exported from its northern fields through the Turkish port of Ceyhan and to Jordan through the basins.
************
Courtesy of Dinar Guru
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The CBI governor comes out and gives a statement on how it's illegal for him to discuss or even predict anything related to a rate change. He went on a rant. He talked like 5 minutes. FRANK: Isn't this something! ...the governor comes out and says according to our constitution and our laws I can't tell you we're going to raise the value... FIREFlY: Why even do this if something not about to happen.
Mnt Goat Article: "IRAQ’S OIL GENERATES MORE THAN 8 BILLION DOLLARS IN ONE MONTH" WOW! WOW! WOW! This is a filthy rich country! Yes, and the dinar is still 1/6 of a penny? ...The monthly revenue of the IQD is more than twice that of the economy of Kuwaiti KWD, their neighbor yet Kuwaiti dinar is KWD 1 equaling US$3.26 (up 26% today) and the Iraqi dinar IQD equaling only 1/6 of a $US0.01. Can you see the artificial suppression of the IQD. Why? When will they allow the true value of the IQD to be reflected in its rate and have the rate traded internationally like the KWD?
************
KTFA:
Clare: Rasheed Bank announces the suspension of granting credit of all kinds
01/12/2022
Al-Rashid Bank announced today, Thursday, the suspension of granting all kinds of credit for the purposes of the annual application.
The media office of the bank stated, in a statement received by Mawazine News, that "it was decided to stop granting credit of all kinds (advances and loans)."
He added, "The suspension decision came for the purposes of the annual application," noting that "the bank will announce its resumption of work at the beginning of next year." LINK
(Alert) The MMRI (Mannarino Market Risk Indicator ) Craters! 10 Year Yield DROPS! Dollar FALLS. Very Important Updates!
Greg Mannarino: 12-1-2022