News, Rumors and Opinions Tuesday PM 6-22-2021
TNT:
Tishwash: Iraq..a collapsed economy with total dependence on oil..and corruption is eating away at the ministry
Oil is the only element supporting Iraq's economy, especially after the fall of the political system in 2003 and the succession of governments after it, which did not try or think to come up with an alternative or competitive economy that supports the country's budget.
During the past three years, the decline in global oil prices, and the accompanying conditions of the Corona pandemic, caused a stifling economic crisis that reached its climax with the Iraqi government's inability to secure the salaries of its employees, forcing it to borrow internally and externally to fill the spending deficit.
Warnings issued by specialists, officials and politicians of the danger of relying on oil alone, as the government neglected by relying on black gold to finance the country’s expenditures to support agriculture and industry and make them an element competing with oil in financing the budget, and in this context, the President of the Republic, Barham Salih, warned of the future repercussions of the harm of relying on oil. Oil as a major source in light of an expected increase in the population of Iraq to reach 80 million by 2050.
Barham Salih had said that "the huge oil reserves in Iraq and the countries of the region will not secure the future of our generations, and the continuation of the current situation will affect the whole region."
He explained that "the volume of Iraq's oil imports since 2003 until now is a thousand billion dollars. Estimates indicate that about 150 billion dollars were smuggled abroad through corruption deals."
Saleh predicted that Iraq's population would reach "80 million people in the year 2050", warning of "a decline in demand for oil by 2030 as the world switches to electric power," despite the country's financial budgets, which were described as "explosive", over the years, from returns. Selling oil, but the rampant corruption in the Iraqi state institutions has led to the wasting of most of that money on fake and lagging projects, as well as the smuggling of up to about $500 billion outside Iraq.
In the context of talking about rampant corruption in the joints of the state, especially in the Ministry of Oil, the Secretary-General of the Kafa Rahim Al-Daraji movement revealed major corruption files in the ministry.
Al-Daraji said, "The cost of food for 60 employees per week in one of the departments of the Ministry of Oil has reached five billion and about 400 million."
He added, "The work set for one engineer, consisting of a suit, a helmet and shoes, costs the state 15 million dinars," calling on the religious authority to return the corrupt where they came from," as he put it
, adding, "Departments in the Oil Ministry print a monthly magazine whose cost has reached five
billion. Dinar".
Al-Darraji called on citizens for a major electoral revolution to eliminate corruption in the country. link
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Fleming Tuesday RV Report
Our military intel said the release from UST he mentioned was at 8:23 am EST this morning Tue 22 June, completely exposing Treasury personnel not telling the truth by saying UST is not going to release the RV rates on Forex at all
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Courtesy f Dinar Guru
Frank26 A powerful article came out on the 20th...the article is flat out telling you, we now have security inside of Iraq and we now have stability in our currency. You're about to see something very soon IMO... On December 20th they approved everything...and exactly 6 months later right on target on the 20th of June they start to tell you everything we told you they were going to tell you and even more...
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KTFA:
Don961: Parliamentary Finance: Entities are trying to embarrass the government and the central bank to thwart the process of changing the exchange rate
The Parliamentary Finance Committee revealed a plan to control the exchange rate, while indicating that there are visions to reduce the amounts sold in the currency auction.
Committee member Faisal Al-Issawi said in press statements that the exchange rate change is in its infancy and it is natural that it will witness great inconsistencies, pointing out that there are some parties and speculators who are trying to embarrass the government and the central bank to thwart the process of changing the exchange rate.
He stated that the process of changing the exchange rate is still under control and the bank has a plan and a clear vision to address and control the issue, explaining that the currency auction was part of the committee's discussion with the Governor of the Central Bank, indicating that there are visions about reducing the amounts sold in it. link
Can other nations follow Russia’s lead in ditching the US dollar? RT’s Keiser Report finds out
Russia’s divesting from the US dollar gives the country a lot of maneuverability to make its own deals without interference from Washington, says Max Keiser of RT’s Keiser Report.
He asked technical analyst Tone Vays whether other countries could follow its example.
“It’s going to be hard for smaller countries without resources and without a strong leader that can stand up to America … to do what is better for their people in their view without being bought or being told what to do by another country,” says Vays.
“Russia is able to do it, but how does an African country stand up to the US government? They can’t.”
https://www.rt.com/business/527234-max-keiser-russia-us-dollar/
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Lynette Zang: Currency Bubble Will Burst Sooner Than You Think | Currency Collapse
Money Matterz: Premiered 51 minutes ago