News, Rumors and Opinions Thursday Morning 2-25-2021
TNT:
Tishwash: Oil reviews the final version of the draft federal oil and gas law
Oil Minister Ihsan Abdul-Jabbar stressed the importance of expediting the passage of the federal oil and gas law, and its importance in regulating the management of oil and gas wealth in Iraq.
Ismail said in a statement seen by "Al-Iqtisad News", "The meeting of the Opinion Committee at the Ministry of Oil, which was held on Wednesday February 24, 2021, included discussion and review of the final version of the Federal Oil and Gas Law," stressing that this copy will be referred to the Council of Ministers for approval. .
He explained that "after completing its review by the concerned authorities in the ministry, the Council of Ministers will review this copy, and in turn refer it to the House of Representatives in order to legislate this law."
The Minister of Oil indicated, "the ministry's keenness to pass a law that contributes to the development of the oil and gas industry, and the optimal investment of the national wealth in Iraq in order to support the national economy."
It is noteworthy that the Iraqi Council of Ministers directed, last year, to speed up the completion of the oil and gas bill. link
Tishwash: PARLIAMENTARY FINANCE REVEALS TO "THE NEWS CENTER" THE MOST IMPORTANT ITEMS OF THE FINAL VERSION OF THE BUDGET .. INCLUDING THE FATE OF CONTRACTS AND THE DOLLAR PRICE
Today, Thursday, the Parliamentary Finance Committee revealed the most important items for the final version of the 2021 budget.
A member of the committee, Ikhlas Al-Dulaimi, said in a special statement to the "National News Center", "This year’s budget has decreased from 164 trillion dinars to 127 trillion dinars, with the fiscal deficit in the budget reduced from 71 trillion to 25 trillion dinars."
Indicating that "the price of the dollar remained constant at 145 thousand per 100 dollars."
On the price of oil,
She confirmed that "the price of oil has been changed from 42 to 45 dollars a barrel, while keeping the price difference to reduce the budget deficit."
Regarding the fate of the lecturers, contracts and procedures in all ministries, Al-Dulaimi commented, saying: "The Finance Committee has allocated one trillion dinars to the government, distributed through the government to all these groups without entering into their numbers or salaries as it is an executive rather than a legislative matter."
As for those with health professions, Al-Dulaimi revealed that "the Financial Committee has set a legal clause for them that provides them with functional degrees of deletion and creation, and that the first three will be appointed after developing a legal article that obliges the government to implement."
She pointed out that "this year's budget focused on supporting the private sector and maximizing state imports, without affecting citizens with limited income."
Noting that "the Finance Committee has put in place provisions that oblige the government to implement the budget verbatim." link
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Courtesy of Dinar Guru
Frank26 ...the United States Treasury met with a limited amount of people to disseminate some information on how and where to exchange your Iraqi dinars...It's not known how it's going to roll out but the information will come to the dinar community as needed because right now it's going to the citizens of Iraq...for us citizens of the United States of America it's possible an 800# is coming...this so-called 800 number is not for one bank. That's so stupid. The 800 number, as of 1st hand information, is not as it's being exaggerated... [Post 1 of 2]
Frank26 ...it is logical that the US Treasury would have a legit 800 number where they could counsel and advise you on your investment once the value goes up as to where to go to exchange your currency. Isn't that cool! Here's the other thing that's cool...it's motivating for a time like this when we see so many things coming together. If there is an 800 number it would only be with the United States Treasury to tell you which banks to go to...there isn't going to only be one bank. There's going to be hundreds and hundreds across the whole United States of America. There will also be Iraqi banks...there will be hundreds across the world markets..
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Simon Parkes: 24th February Update Current News
News on the QFS, Banking and more
Is the Silver market close to breaking: w/David Smith
Arcadia Economics: Feb 24, 2021
This tension-filled silver delivery period on the COMEX is drawing nearer, and silver expert David Smith joined me on the show to talk about what he’s expecting, how it compares to what happened with the Hunt brothers, and a whole lot more!
The Commodity Crash-Up Begins, The Fed Says No Inflation For 2 Years, Analysts Predict 4% In Months
Feb 25, 2021
The commodity super-cycle is the mad dash into the most undervalued sector in the economy. The insulting part about Jerome Powell's recent comments on inflation is He tried to pretend like central banks are desperate and failing to generate inflation.
Lumber futures surge, Copper is near record highs, prices paid by producers are surging at the highest rate on record and these prices are about to be handed down to consumers.
Many economic analysts are predicting inflation will reach 4% within months and the Fed plans to look the other way when the inflation kicks in.