More News, Rumors and Opinions Wednesday PM 5-24-2023
KTFA:
Clare: Iraq recovers $20 million seized in Kuwait 32 years ago
5/24/2023
Today, Wednesday, the head of the Integrity Commission, Haider Hanoun, announced the recovery of more than $20 million from Kuwait.
Hanoun said in a statement to state television that "the authority recovered an amount of 20 million and 437 thousand and 157 US dollars," noting that "this amount was withheld in the National Bank of the State of Kuwait, and it is from the funds of the Iraqi embassy in Kuwait for the year 1990 after the severance of relations."
He added, "This came through news received by the Iraq Money Recovery Fund, where the funds were searched for, the full amount was recovered, and it was duly returned to the state treasury through the Central Bank of Iraq."
He stressed, "We are currently in the process of discussions with a Swiss legal law firm, as an understanding has been reached with it and the procedures for contracting with it have been completed due to the importance of having such a legal entity representing us in Switzerland with the aim of knowing the amount of funds, whether they are financial, gold fickles, or gold bars in Switzerland, which belong to Iraq to work on recover it". LINK
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Courtesy of Dinar Guru
Militia Man It's the CBI's job to make a rate change adjustment. It's not the parliament or it's not the Council of Minister's or the Finance Committee's job to do that...
Frank26 These are good times for our investment because the things that are happening are not negative, they're moving in a positive direction...we are right at the edge of cliff, on my tiptoes, with my arms spread wide open, with my chest sticking out leaning forward over this cliff and all I need is a little gust of wind to knock me over and fly like a bird into the international world with this new national currency...
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TNT:
Tishwash: Iraqi authorities arrest a person in possession of 20,000 bank cards without official approvals
The border forces reported, on Wednesday, the arrest of a suspect in possession of 20,000 bank cards without official approvals, in Kirkuk Governorate.
According to a statement issued by the Iraqi Interior Ministry, the detachments of the Customs Police Department of the sixth region, in cooperation with the customs investigation staff in the Kirkuk governorate, managed to arrest a suspect in possession of (20) thousand bank cards hidden inside a wheel that violates the controls and is not subject to official approvals.
The statement indicated that a formal arrest report was organized and the necessary legal measures were taken against him link
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CandyKisses: Parliamentary finance brings good news for decades long awaited to be installed for 11 years
Information / Diyala.A member of the Parliamentary Finance Committee, MP Mudar Al-Karawi, on Wednesday determined the fate of more than two thousand contracts after waiting for 11 years, indicating that the committee voted to install all contracts of good tidings.
Al-Karawi said in an interview with Al-Maalouma, "The contracts of good tidings in Diyala were supposed to settle their file in 2012, and there are indeed parliamentary decisions in this direction, but they were not implemented, and the fate of more than 2,000 people remained pending for more than 11 years."
And he added, "The Parliamentary Finance Committee voted to oblige the Ministry of Finance to confirm the contracts of good tidings in Diyala in order to redress a segment that has suffered for many years."
He pointed out, "The item of good news was officially included in the 2023 budget, pending a vote by the House of Representatives to turn an important page in the confirmation file."
On Wednesday, the head of the National Approach bloc, Ahmed Al-Rubaie, revealed the most prominent changes within the federal budget, indicating that the parliamentary trend is towards reducing public spending and increasing governorate allocations.
Al-Rubaie said, in an interview with Al-Maalouma Agency, that "there are a number of points in the budget, including those related to the share of the central and southern governorates in order to be fair to them."
He added that "the amounts allocated for the development of the regions are very small and are not commensurate with the size of the suffering in those provinces," noting that "the adoption of the budget law will be passed at the end of this month. "
How the Fed Plans to Kill Capitalism (or what’s left of it)
Heresy Financial 5-24-2023
If the Federal Reserve has proven anything over the last 18 months, the inflation genie is hard to put back in the bottle.
The Fed has been reducing the size of its balance sheet, and they've been raising interest rates consistently. Yet inflation is still sticking around.
Now, many people blame this on the triple ends of new dollars that were printed in 2020 and 2021. People also blame the years of zero interest rate policy that stuck around too long, leading to excessive risk and debt buildup.
But the effect that high-interest rates are now having on the economy may be far more damaging in the long run. In fact, keeping rates too high for too long could end capitalism as we know it and replace it with something far worse.
Timecodes
0:00 Introduction
2:37 How Prices Work
7:14 How Money Works
11:23 Price Controls
13:20 What is Capitalism
14:54 The Fed is Killing Capitalism
OPEC WARNS: "MUCH HIGHER ENERGY PRICES." JPM WARNS: MORE BANK FAILURES COMING.
Greg Mannarino: 5-24-2023