News, Rumors and Opinions Sunday 6-23-2024
KTFA:
BuckEyeTree: We have had a week of extreme heat in most of the USA. That brings to mind the situation in Iraq with its monetary reform.
In My Opinion, the Heat is on to reach the goal of monetary reform, the RI, and bring to pass the promise of purchasing power to the citizens, the HCL, etc. The heat / pressure is good in this case with ATMs and latest from their leaders Sudani, Alak snd Barzani.
I rremember seeing a video of Sudani walking among the citizens in the street. They appreciate him, and he wants the best for them and Iraq, quite the opposite of some leaders in the past. IMO
Clare: Parliamentary Economy explains...Does the fluctuation of oil prices affect the economy of Iraq?
6/22/2024 Baghdad
The Parliamentary Oil and Gas Committee confirmed today, Saturday, that the fluctuation in oil prices does not affect the Iraqi economy.
Committee member Ali Saadoun Al-Lami said, “The 2023 budget tables came to the House of Representatives when a barrel of oil was calculated at 74 dollars.”
Al-Lami added, “There are 10 moving dollars on the price of a barrel, so the rise or fall of oil prices does not affect the economy.” LINK
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Clare: To confront the electricity crisis...a parliamentary call to oblige state departments to adopt solar energy
6/22/2024 Baghdad
The Parliamentary Electricity and Energy Committee called, on Saturday, to oblige state departments to adopt a solar energy system to confront the electricity crisis in the country.
The committee said in a statement, seen by Al-Iqtisad News, that “in light of the climate that the country is experiencing, with temperatures rising above 50 degrees Celsius and increasing power outages, the citizen is suffering from a real crisis of energy shortages. The committee calls on the government to :
1- Reconsidering the mechanism for distributing electrical energy, rehabilitating generating units, and maintaining the dilapidated network, and the need to take urgent measures to address the above problems.
2- The committee calls on the Ministry of Electricity to bear full responsibility for providing electrical energy to citizens and distributing electricity fairly.
3- The committee calls on the Prime Minister and the Minister of Electricity to replace the general managers and branch managers who were proven to be negligent in performing their duties in overcoming the crisis. And those who have held positions for long periods.
4- Requesting the Prime Minister to oblige all state departments and the private sector to install and establish a solar energy system at a rate of 25% of their departments’ consumption, provided that it is implemented during a period not exceeding three months.
5- Activating and adapting the Central Bank’s initiative regarding solar energy for citizens and accelerating its implementation in order to support the national grid.
6- The Ministry of Oil must provide the fuel share for stations under construction and invest in the associated gas.
7- Intensifying the efforts of the Ministry of Electricity and accelerating the transformation of the electricity system into a smart network and implementing all projects that will preserve the use of electrical energy in the optimal way.
The committee confirmed, according to the statement, “that it will approve the evaluation form for general managers and branch managers and submit it to the Council of Ministers and the Ministry of Electricity to take the necessary measures according to the evaluation issued by the committee.” LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is showing a big meeting where Sudani is giving 4 million dinar grant to all displaced families that are currently in camps in Iraq... FRANK: 4 million dinar for the displaced families is an insult at 1320 but it is a blessing at 1.32.
Militia Man Iraq says they're opening a copper recycling plant. We talked about phosphates...sulfur...liquid natural gas and now we're talking about they're opening a recycling plant to do what? To help their infrastructure. Infrastructure is what's driving the...Development Road Project. They're going to need thousands of tons of copper rods annually. They're going to be able to produce that...They have so many raw materials... It's nothing but bullish for this country.
Major Banking Giant To Sell $63 Billion In US Treasuries – Expect Bigger Failures & Losses
Sean Foo: 6-22-2024
In a sudden twist, Norinchukin Bank in Japan is in crisis with massive losses surfacing. This has prompted them to dump tens of billions of US & EU bonds.
The collapsing Japanese economy, weak Yen and Fed rate hikes are causing one of Japan's oldest banks horrible losses. This isn't good for the global economy.
Timestamps & Chapters:
0:00 Japanese Giant In Crisis
2:43 Massive Losses & A Panic Dump
5:55 Systemic Banks Taking Big Risks
8:34 Crazy Derivative Bets Coming
11:21 Higher Rates Breaking The System