News, Rumors and Opinions Tuesday Morning 3-30-2021

Mar 30

TNT:

Tishwash: Parliamentary Finance announces budget readiness for vote and expects to pass in two days

Magda Al Tamimi, a member of the parliamentary finance committee, said Tuesday that the budget law is ready to vote, likely to vote on the budget law within the next two days.

"We expect any moment to set a session by the presidency of the House of Representatives to vote on the budget law," Tamimi told The Shafq News, noting that "the parliamentary finance committee has handed over the draft budget law to the presidency of parliament since mid-February and since then the budget has been ready for a vote."

"The bloc was present in the full number of its members in the House of Representatives to vote on the budget bill last Sunday," she said.

"Some political blocs have objections to some of the articles of the law, so they announced their boycott of the budget vote," she said.

On Sunday, members of the Iraqi parliament's finance committee voted to pass kurdistan's share in the federal budget.

The House of Representatives failed to vote on the 2021 federal budget bill, following continuing disagreements over certain provisions.

The budget allocation is estimated at 130 trillion Iraqi dinars (about 89.6 billion dollars). link

Fleming late Monday Night update:

March 29, 2021

Good evening this the second update and we are expecting a much larger one sometime later tonight.

I know that this is short and we are not into just trying too feel space.

There was a problem last night when they started the process to release the start there were some problems, we are not told what they were as our military intel contact said the problem was fixed as of this morning Mon 29 March, arrests were made for obstructing, and after only 20 min into the 11 am EDT RV team meeting this morning they released the process again to move forward and things were fixed & moving as of 7:48 pm EDT tonight he said.

When we get further updates we will be letting you know.

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Courtesy of Dinar Guru

Frank26 Question: [If we go into April with no RI would they be able to retro the rate back to January 1st?] Yes...they can retroactive any time during the fiscal year...

MilitiaMan ...The facts and information that is outside the hype does point conclusively to the reforms are coming to a head with an exchange rate change on the top of the list. The clarity that is out there in respect to the 2021 budget has been a dog a pony show be sure. They have to have the rate change ioo first...And no, they will not get into the private sector ioo with a program rate. ...I like where we are and we may see even more good news in the very short term. The first quarter is coming to a close in a couple of days...

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Miles Harris: Basel III, Good or Bad for Gold?

Palisades Gold Radio: Mar 30, 2021

Tom welcomes Mile Harris to the show. Miles is an investor, free-market advocate, and macroeconomist. Miles takes us on a deep dive into how the Bank of International Settlements operates as the central bank of central banks along with upcoming Basel III changes in June. He believes their ultimate goal is facilitating monopoly control over fiat currencies and global monetary policy.

He discusses the upcoming changes to Basel III standards in June.

Tier one capital refers to bank financial reserves, including its equity. Tier two capital is regarded as undisclosed funds like demand deposits. Gold is on the asset side of a bank balance sheet and is usually considered a risk-less asset. Its only risk is price changes, not unlike a foreign currency.

They will consider gold as a zero-risk weighting if it's allocated and has been hedged with a short position. Miles thinks now is a perfect time to go long gold as banks are closing short positions and banks seem to be taking possession of their gold.

There could be a real rush towards physical delivery and absolute chaos due to an overall lack of physical bullion.

A Comex failure could potentially bring down the US currency, and gold could rise rapidly. He believes this year we could see investment silver demand rise to nearly 50% of production. There could also be demand for companies and countries to acquire strategic reserves of the metal.

The West is now heavily indebted while having gutted much of their industrial capacity, and they appear to lack the political will to change the situation.

Time Stamp References:

0:00 - Introduction

0:42 - Bank of Int'l Settlements

2:47 - Mortgage Debt & Risk

6:16 - Northern Rock Bank

9:12 - Basel III - June Changes

12:00 - Capital, Assets, & Risks

19:05 - Allocated vs. Unallocated

20:18 - Comex Gold Outflows

21:32 - Gold & Silver Fiat Enemies

23:53 - PMs vs. Money Supply

26:56 - Gold and Valuations