News, Rumors and Opinions Monday Morning 5-31-2021
Holly Monday RV News:
I was told it is time to be quiet. Just know we are there and it is set to happen this week.
Let’s let the process unfold. This is a transition not a transaction!
Never, ever give up!
TNT:
Fullsail: A Day of Rememberance... For Those Who Gave Their All defending and supporting our way of life in the most special country on earth, all due to our Founding Fathers' wisdom creating the foundations that brings us to where we are today. Blessings Always to all those who sacrificed for our Freedoms. We Remember
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Tishwash: A large Kurdish delegation arrives in Baghdad to follow up on the implementation of the region's share of the budget
A member of the Kurdistan Alliance, MP Ahmed Al-Saffar, confirmed, on Sunday, the arrival of a large Kurdish government delegation to Baghdad today.
Al-Saffar told the official agency, and "Nass" followed him (May 30, 2021), that "a large government delegation from the region will arrive today in Baghdad to meet government officials exclusively."
He explained that "the purpose of the visit is to meet to follow up on the implementation of Article 11 of the budget law on the share of the Kurdistan region, and there will be three parties present: the Federal Ministries of Finance and Oil and the Office of Financial Supervision."
The Kurdistan Democratic Alliance had confirmed, last Friday, that the Kurdistan Regional Government handed over all data related to the numbers of employees, oil, revenues and outlets to the federal government. link
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Tishwash: Iraq achieves the highest revenues by selling oil since the end of 2019 - Urgent
Today, Monday, the Parliamentary Oil and Energy Committee revealed that Iraq has achieved the highest amount of .oil exports since 2019 until now
A member of the committee, Ghaleb Muhammad Ali, said in a statement received (Baghdad Today), that "Iraq sold its crude oil during the current month at 62 dollars, and sales revenues amounted to about 5.5 billion dollars, which is the highest in the country's revenues since the end of 2019," noting that " This amount when transferred amounts to 8 trillion dinars, in addition to other non-oil revenues, which amounted to one trillion dinars, bringing the number to 9 .trillion dinars entered into the Central Bank of Iraq during the current month
He added that "the presence of these sums makes us see the conditions of the Iraqis and the economy better, but what exists on the ground is the opposite, so we see that the Iraqi economy is unstable and there is a continuous rise in the exchange rates of the dollar in the markets, which negatively affected the market and consequently on the life .of the Iraqi family despite the presence of many Revenue from the sale of oil
He added, "The Central Bank of Iraq is not able to control the dollar exchange rates, and there is a continuous rise within a few days, which calls for opening an investigation by the government about what is happening in this bank's defect and the rapid increase in the exchange rates of the dollar and the possibility of removing it from his position ".and choosing people worthy of this position. Who controls all of Iraq's money
He admitted that “there are cases of corruption in the central bank, especially in the dollar sale window, since the exchange rates amount to 145 thousand dinars for the 100-dollar banknote, while in exchange shops it reaches 150 thousand dinars, stressing that this difference between buying and selling prices is from a share.” The parties that will ".use the people's money in the upcoming elections
He explained that "the central bank must adopt a monetary policy whereby it can maintain stable dollar prices, as it is ".affecting the lives of citizens, and take a position away from the parties, as it is currently under their control. link
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Courtesy of Dinar Guru
Frank26 IMO that [2021] budget will bring forth the new exchange rate. Whether it's brought out with the budget or later I don't know. I don't care. But it's impossible for that budget to do what it wants to do at that program rate....
Frank26 IMO on the 20th of May the Fab 4 finished with the Central Bank of Iraq - the Central Bank of Iraq basically it's your turn now. That's extremely close. That is an extremely long accomplishment that has been completed and for the governor of the Central Bank of Iraq to actually come out on the 20th and actually say those same words, 'We have completed.' What? 'This, this, this and this.' And all 'this this this' is not for a program rate. Not at all...un-peg. It's your turn.
Petra their tax revenue people (what we call the IRS) are saying they are to begin implementation of 21% taxes on the income of the citizens. Well they can't do that at a program rate. There's no way. That to me goes back to a time issue that there is a time set in stone because they'll start generating more revenue from the taxes. They are positioned really strong. They just need to get this oil thing straight and then I think we're off to the races.
Basel III Threatens to Break The Gold Derivative Market in June
GoldSilverPros:
We revisit the Basel III requirements that are set to wreak havoc on the London unallocated gold market on June 27, 2021.
We also discuss the potential affects this has on vaulting gold toward its CPI adjusted high of $3045.
We go over in detail over the history of Basel requirements and why they keep changing. Essentially, the banking system is having trouble meeting those liquidity standards after the Lehman collapse, despite what they may tell us publicly.
We also revisit the threat that the LBMA made to the rest of the world's gold markets, and why it indicates London is panicking over physical gold trade moving East to those other markets.
I explain in detail why June of 2021 will likely not be the date at which the entire derivative market in gold breaks, because the LBMA and COMEX are not the only markets where derivatives are traded.
However, it will likely do two things for gold: 1) raise the floor of the gold price significantly and 2) cause gold trade to shift methodically away from Western gold markets.