More News, Rumors and Opinions Monday Afternoon 8-21-2023
KTFA:
Clare: The international coalition strengthens its positions in Syria with forces coming from Iraq
8/21/2023 Baghdad –
During the past hours, the international coalition forces brought a military convoy to the areas controlled by the Syrian Democratic Forces in northeastern Syria, through the Al-Walid border crossing with the Kurdistan region of Iraq.
Eyewitnesses said that the convoy included 30 trucks loaded with logistical and military materials, cement blocks, and closed boxes, and headed towards the bases of the International Coalition in Tal Baidar, Qasrak, and Istrahat al-Wazir in the countryside of Hasakah.
KTFA:
Clare: The international coalition strengthens its positions in Syria with forces coming from Iraq
8/21/2023 Baghdad –
During the past hours, the international coalition forces brought a military convoy to the areas controlled by the Syrian Democratic Forces in northeastern Syria, through the Al-Walid border crossing with the Kurdistan region of Iraq.
Eyewitnesses said that the convoy included 30 trucks loaded with logistical and military materials, cement blocks, and closed boxes, and headed towards the bases of the International Coalition in Tal Baidar, Qasrak, and Istrahat al-Wazir in the countryside of Hasakah.
This comes after new military reinforcements of the International Coalition arrived last week at their bases in Deir Ezzor Governorate, entering through the Al-Walid border crossing as well.
Since the beginning of this month, 4 convoys of reinforcements and supplies belonging to the coalition have entered the regions of northeastern Syria. LINK
Clare: PARLIAMENTARY FINANCE HOSTS THE GOVERNOR OF THE CENTRAL BANK REGARDING THE HOUSING INITIATIVE
August 21, 2023 10:12 am Baghdad
The Finance Committee in the House of Representatives is seeking to host central bank officials next week, to discuss the delay in distributing funds for the housing initiative that it launched last year.
A member of the committee, Mustafa Al-Karawi, said in a statement followed by the National News Center: “The banks were very late in releasing initiative sums for citizens to buy real estate or build plots of land that they own as part of a solution to the housing crisis that Iraq suffers from.”
Al-Karawi explained that “the initiative is expected by many citizens who do not have sufficient funds to build their homes,” noting that “many citizens obtained interest-free loans from banks in order to purchase housing units, including those in the vertical housing complexes that were established recently.”
And he indicated that “the grant amounts are provided by the Central Bank to the banks,” pointing out that “the committee will host the governor of the Central Bank and its officials to inquire about the reason for delaying the release of the amounts to the banks to take appropriate measures to grant them to citizens.” LINK
***************
Courtesy of Dinar Guru
Frank26 I love the big push...to arrest all of the corrupt people in Iraq because it's not just Iran, they are also arresting Iraqi crooked politicians like the former Oil Minister...all of these have been the reason why the CBI cannot advance the IQD exchange rate. This huge push to eradicate corruption is the latest of the monetary reform steps to bring forth your new exchange rate...they are destroying the corruption that was preventing your reforms...
Walkingstick Question: "These banned countries - Why does Alaq the Governor of the CBI want the United States to help?" Because sanctions on these banned countries make it difficult for them to acquire the USD. The USD rate goes up via supply and demand....This must and has been stopped by laws Suadni has implemented and brought fourth...It is bulldozing over the corruption that has prevented the new exchange rate from coming out...Sudani asked the United Staes of American for help to stop using the American dollar in Iraq.
PREPARE YOURSELVES! Food And Other Resource Shortages Are Coming. COUNT ON IT.
Greg Mannarino: 8-21-2023
MarkZ and MilitiaMan Monday Morning Chat 8-21-2023
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning and welcome to a new week
Member: Will This Be Our Week ?
MZ: Things look great this week….we need to buckle up and see what happens. Just remember- nobody knows the exact timing……
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning and welcome to a new week
Member: Will This Be Our Week ?
MZ: Things look great this week….we need to buckle up and see what happens. Just remember- nobody knows the exact timing……
Member: Rumor: Air Force One (the 747) spotted at the Reno/Tahoe International Airport over the weekend?
MZ: MilitiaMan joins the stream today. Thanks you MM for being here today.
Member: Gm Militia Man glad to have you with us this a.m. What are you hearing?
MM: There are a lot of things happening that are not in print. Things that are correlated to the global financial system . There are big changes coming .
MM: There are meetings in BRICS that start tomorrow through the 24thwith a variety of countries. One of the things I had to step back and think about is those countries that are in BRICS…a lot of them are really not doing all that well…but, they may start doing well in the future. One of the reasons could be because they are rich in commodities.
MM: And one of the things the world uses a lot of is that. When all this changes it suggests we are going to more of an “asset backed” system. Commodities are assets. We ccan see changes coming.
MZ: We had some reporting from Iraq over the weekend on the BRICS front…one of the ministers says “The whole world changes on or around the 22nd with BRICS”
MZ: The original BRICS countries are 30% of the worlds GDP and over half the world’s population. This isn’t even counting the 40 or so nations trying to desperately join BRICS. Which would put them at over half of the world’s GDP. I find it interesting that many are saying the meetings in BRICS this week will change the world. This was reporting in Iraq over the weekend and I think it’s huge.
MM: I saw two different articles about that yesterday. One of the titles were “BRICS summit-Will the world change after it? The BRICS summit starts on August 22nd and things will not remain the same after that.
MM: My understanding is they got a head start and there are people already there yesterday and today. They got started quickly but “officially” it’s going to start tomorrow on the 22nd.
MM: Also keep in mind that are sone time frames that we have been given by the Prime Minister of Iraq-Al Sudani. We have met at least one of them and will probably meet the other one. That’s the way the world rolls. We met the first one on the 15th with the service portion of the projects and the next one is the operational side of the 2023,24 and 25 budget –the investment side of it …..coincides with the BRICS meetings finishing up on the 24th.
MM: Whether there is a relationship between those timeframes or not…..we don’t know….but this week should be pretty powerful. Starting today through the 24th we will have our eyes open and watching to see how this all plays out.
MZ: How are you handling this week…We don’t know the exact timing….so this week we are playing it by ear…
MM: that’s how I do things….We will see how that rolls.
Member: In the blink of an eye everything changes.
Member: I hope BRICS isn't a lead balloon.
Member: Is Iraq is not joining BRICS because they want to build their national currency?
MZ: I have a strong opinion on this based on what I was told by my contacts in Iraq when I asked why they havn’t jumped all over BRICS.
MM: I do know that currencies need to be stable and appropriately valued. I’m assuming because of a lot of US treasury involvement in Iraq …there is probably their influence in that respect. Romanowski is once again talking about partnerships and cooperation. My assumption is they need a stable currency and BRICS membership could take some time. That doesn’t mean they are never going to join.
MM: Even the US may be in cooperation with BRICS when everybody is on a level playing field with commodities and trade. Including the Quantum financial system and SWIFT messaging system. This all could come into play when everyone is on the same page…..it’s possible.
MM: I have heard rumors and scuttlebut that even the united States , Iraq and others will someday get on board with this because it will be a level playing field.
MZ: That’s my take…until Iraq removes all the tendrils from the puppet strings of the US …they cannot openly embrace anything the US frowns upon right now.
MM: At the moment we will watch things unfold…..sometimes we get it right and sometimes we get it wrong.
MM: I think as far as everything being in place where Iraq is concerned with their re-instatement timeframe…I think the writing is on the wall that they are going to go into the international financial system.
MM: I think this is fascinating that Iraq now has the first woman financial minister….and also the first woman who has the first tripartite budget….This has never been done before. She is going to get credit for that. They have made a lot of headway with womens rights over the last 10 years. She’s a very talented woman who takes her job as finance minister very seriously.
MZ: I am very much a fan of hers watching from the outside.
MM: Al Sudani has also been knocking it out of the park. My understanding is he is a non-stop go-getter whose attention to detail is phenomenal….trying to get that black market/parallel market cleaned up…..I don’t think it’s a big issue anymore…as far as I can see. And I believe if the dinar exchange rate changes to exceed the dollar…..that black market is going to go away anyway.
MM: The bottom line is it’s illegal to use the dollar for commercial and residential uses in Iraq. Grocery stores and stuff like that are supposed to only take dinar. Alaq (CBI governor) has said over the last 3 weeks that the deletion of the 3 zeros project still exists……and for that to happen the tripartite budget needs Alaq to make some changes pretty quick.
MM: These are changes we are hoping for at anytime. I believe there was an article from the courts that Iraq had 30 days from July 26th for the budget to be implemented and for them to start spending…..for them to start spending –it’s a heck of a lot cheaper to buy things to rebuild with a at least a rate of $1 then 1310.
MM: Whatever rate they come out at I believe it will have to be strong. Alaq has said he is not going to float the currency…suggesting it’s going to be a strong rate.
MZ: At one point I felt Iraq needed one more rate change but I do not believe that is now going to happen. I do not feel that is in their best interest now.
MM: My understanding is that is not going to happen. It does’nt make any sense at this time in the game.
MM: Sometimes we do not get all the information in a timely matter….In our country (US) my understanding is (I have had some pictures of new United States Currency) and it’s said to be started and out on the streets as early as October 1st. Its fascinating currency because instead of being horizontal like our currency we no hold….the pictures are vertical. They are quite colorful and quite beautiful….I understand this is a reality and we should soon be seeing those.
MM: I think the bank /bankers….one particular one that is in the east suggested they have witnessed them. And these are a real thing.
MZ: Many bankers at this point have told me this is a real thing.
MM: I have a friend who has been studying currencies and collecting them for over 30 years. He called me the other day and said “Get ready- they are going to do it” And I believe him-this is his forte’…..and I am excited to see this. It will be a big change in our lives…..
MZ: They are going to have to run the new bills with the old bills- side by side for awhile.
MM: Absolutely. This is going to be an interesting situation…..and this doesn’t mean the process has not already gotten started. If higher ups in the bank have already gotten educated….and seen visual pictures of the new currency…they will need to train the tellers ect…before they are released…
MM: And we also expect to see the new small category notes (lower denominations) released in Iraq…and I am hoping this will happen in the next short period of time.
Please listen to full MilitiaMan Interveiw for this entire chat and information….
Member: Thank you Mark and MM. This was a very encouraging podcast……
Member: Mark and Mods and MM are all doing the best they can… and without all of you informing us as to what you are hearing we would have nothing …..so Thank You.
Member: Our world is falling apart at the seams! It is time to start this RV & clean everything up!
Member: Have a. great afternoon everyone....
“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY
SATURDAY GO TO: Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...
Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
MARK’S TELEGRAM ROOM FOR WORLD NEWS EVENTS & CHAT? LINK: https://t.me/TrollingNews_telegram
THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.
News, Rumors and Opinions Monday AM 8-21-2023
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 21 Aug. 2023
Compiled Mon. 21 Aug. 2023 12:01 am EST by Judy Byington
Global Currency Reset:
Charlie Ward: Tier4b will be able to exchange foreign currencies after the Global Currency Reset is announced.
The Global Currency Reset was expected to be announced at the BRICS Summit in Johannesburg South Africa on Tues, Wed. and Thurs. 22-24 Aug.
Shelton Levert just said the Paymasters will start paying Tier3 AFTER BRICS Summit. Summit ends on the 24th.We know the providers accounts have the money in the banks, but cannot spend it. Maybe Shelton was right when he said they were paid in fiat and those custodial accounts have to be converted to USN.
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 21 Aug. 2023
Compiled Mon. 21 Aug. 2023 12:01 am EST by Judy Byington
Global Currency Reset:
Charlie Ward: Tier4b will be able to exchange foreign currencies after the Global Currency Reset is announced.
The Global Currency Reset was expected to be announced at the BRICS Summit in Johannesburg South Africa on Tues, Wed. and Thurs. 22-24 Aug.
Shelton Levert just said the Paymasters will start paying Tier3 AFTER BRICS Summit. Summit ends on the 24th.We know the providers accounts have the money in the banks, but cannot spend it. Maybe Shelton was right when he said they were paid in fiat and those custodial accounts have to be converted to USN.
Shelton Levert: He said that is happening now. I think they are running the algorithm audits on the new quantum platforms that are in beta, to remove glitches, to launch and announce to the public at large a new banking quantum system implementation. I believe they are working to get this done, ASAP.
Thurs. 17 Aug. MarkZ: “I have been assured Iraq plans to finish in the month of August and bankers are still looking at around Sun. 20th Aug.”
Bruce: On Thurs. 17 Aug. or Fri. 18 Aug. Bond Holders were to receive new NDAs. They had to sign and return those NDAs to Wells Fargo by Fri. night 18 Aug. They would receive emails Sat. 19 Aug. that would give them access to funds on Mon. 21 Aug. or Tues. 22 Aug.
Fri. 18 Aug. Wolverine: “Wells Fargo Bank has received the cash release codes. The redemption of financial instruments has just begun. The global launch of the funds has just taken place in all parts of the world, marking the beginning of Redemption’s registered global asset redemption program. Clearance from Reno arrived at 9pm. On Sat. 19 Aug. from 11:00 a.m. to 2:00 p.m. will bethe calls for direct managers”
Fri. 18 Aug. RV Highlights Mike Bara: “Latest I just heard: Mon. August 21st, Iraq links with gold or a gold backed currency and drops the dollar. Bankers see it when they wake up Tues. August 22nd, Iraq makes some kind of announcement on Wed. Aug. 23rd. Not sure it will be that dramatic, but there will be an announcement.”
Bruce: Tier4b (Us, the Internet Group) should receive notification for appointments and begin to go in for those appointments on Tues. 22 Aug. or Wed. 23 Aug.
The fiat US Dollar can be used in US, Canada and Mexico for the next three months.
Tues. 22 Aug. Wed. 23 Aug. and Thurs. 24 Aug. is the BRICS Summit where major financial changes will be announced.
Global Financial Crisis:
Rothschild controlled Central Banks have been lowering the purchase power of currencies around the world for a century so their ‘little club’ becomes more powerful and more powerful.
China and Russia have boldly stepped away from the conventional international payment system, Swift, igniting a fierce battle for financial supremacy over the fiat US Dollar. https://dinardetectives.com/deepinmoments-2/
The US Sun Major bank with 2,600 locations closes down 29 branches due to ‘evolving’ customer needs. https://www.the-sun.com/money/8877520/closing-time-major-bank-evolving-needs/
Germany: 50,000 companies have closed due to insufficient funds. Over the first half of the year, 50.6 thousand German companies have already gone bankrupt, Zeit Online reported https://www.zeit.de/wirtschaft/unternehmen/2023-08/statistisches-bundesamt-betriebe-gewerbe-aufgegeben
This is about 12% more than the same period last year. In recent years, government aid has partially contained the surge in bankruptcies caused by the pandemic and the energy crisis. But analysts expect the situation will only worsen from here.
BlackRock Warning as Sudden 1 Trillion Crypto Market Crash Tanks the Bitcoin: https://www.forbes.com/sites/digital-assets/2023/08/19/stark-blackrock-warning-as-sudden-1-trillion-crypto-market-crash-tanks-the-bitcoin-ethereum-bnb-xrp-cardano-dogecoin-litecoin-solana-tron-and-shiba-inu-price/
The Panama Canal Has Become a Traffic Jam of the Seas. More than 200 vessels are stuck on either side of the waterway as a serious drought cuts crossings.
Journey From Humble Rupee to International Currency: https://edtimes.in/journey-from-the-humble-indian-rupee-to-international-currency/
It’s Worse Than We Imagined: Banks Like Wells Fargo Are Doing The Unthinkable: https://beforeitsnews.com/economy/2023/08/its-wοrse-than-we-imagined-βanks-like-wells-fargo-are-νow-starting-to-do-τhe-unthinkable-must-video-3093027.html
Goldilocks: Every single leading economic indicator is pointing downward. The Global Economy is collapsing all around us. People have depleted their savings according to surveys done by the Federal Reserve. The last time we were at this level was when the Lehman Brothers collapsed their shares on the market.
The entire Inverted Yield Curve is inverted on a level never seen before in history. We have three major factors going forward that will affect our economy: all our leading indicators are pointing downward, the inverted yield curve which measures recessions and depressions are in historical lows, and we have 70% of our Market or consumers that have already spent up their savings. We are at a crossroads, and the next three economic meetings taking place will give us new direction.
Watch what happens at the BRICS Summit, the Jackson Hole symposium, and the G20 meeting ending on the 10th of September. On September the 11th, we will have new guidelines and policies giving us direction to move forward.
Read full post here: https://dinarchronicles.com/2023/08/21/restored-republic-via-a-gcr-update-as-of-august-21-2023/
************
Courtesy of Dinar Guru
Mnt Goat I do not believe the RV will go right away once the CBI gets the green light...they would RV first in-country and restrict it to Iraq. At that time, it will be just under or over a dollar. Probably more like over to give incentives for citizens to turn in their 3 zero notes. Then the CBI will watch carefully for inflation. We don’t know how long this would take. Maybe a few days or weeks?
Breitling Article quote: "It is not possible to float the dinar in Iraq because we don't have various sources of foreign currency." Which is unbelievable...I've been researching it. The question is a float verses a hard revaluation, a hard manipulation, what they're doing right now. You and I are in a hard manipulation. It is not based on market value...on float...on anything...He's right...Iraq doesn't have access to a foreign currency reserve like everyone else does. So they're going to do a hard revalue. There's no threats at all...this means everything because there's not going to be a float. There's doesn't need to be a float.
Iraqi citizens don’t pay attention to the RV cause doesn’t change anything for them
Nader: 8-20-2023
MARKETS A LOOK AHEAD: Two PERFECT STORMS Are Rapidly Converging.
Greg Mannarino: 8-20-2023
"Tidbits From TNT" Monday Morning 8-21-2023
TNT:
CandyKisses: Japan announces 7 new projects in Iraq
Baghdad - Iraq Today:
The Japanese government announced the launch of 7 new projects under implementation in Iraq, stressing that its loans to Iraq will continue for up to 40 years at a low interest rate of up to 0.2 percent.
The Japanese ambassador to Iraq, Futoshi Matsumoto, said in a statement to the official agency "Iraq Today", that Japan has presented during the past 30 years up to <> large projects in Iraq, which were implemented by Japanese companies.
He pointed out that "there are seven new projects under implementation, and they will be implemented if the Iraqi government decides to allocate funds to them in its budget for next year."
TNT:
CandyKisses: Japan announces 7 new projects in Iraq
Baghdad - Iraq Today:
The Japanese government announced the launch of 7 new projects under implementation in Iraq, stressing that its loans to Iraq will continue for up to 40 years at a low interest rate of up to 0.2 percent.
The Japanese ambassador to Iraq, Futoshi Matsumoto, said in a statement to the official agency "Iraq Today", that Japan has presented during the past 30 years up to <> large projects in Iraq, which were implemented by Japanese companies.
He pointed out that "there are seven new projects under implementation, and they will be implemented if the Iraqi government decides to allocate funds to them in its budget for next year."
"Among the projects to be implemented are the Basra Refinery Development Project and the Muthana Desalination Project, worth more than $300 million, which aims to support the development and reconstruction of the region.
The ambassador stressed that "Japan will continue to support Iraq by providing financial financing and loans with very low interest, as the loans will continue to be repaid for 40 years, with interest rates of up to 0.2 percent."
Tishwash: “The Platform” .. The Central Bank adds a new technology
The Central Bank: Adding the technology of taking instant photos of the customer when registering on the platform and when conducting the cash sale process at the stage of uploading documents
Banking Supervision Department.
A thousand thousand may
Al-Anad: 466/1/9 Date: 8/17/2022
to all authorized banks
All (A,B) exchange companies
Brokerage companies buying and selling all Class (C) foreign currencies
/ Provision of a webcam device
good greeting ....Within the framework of the continuous work to develop the work of financial institutions and the application of the highest quality standards by using the electronic platform for reports of financial institutions’ transactions, FITR, the instant image points technology will be added to the customer when he registers on the platform and when conducting the cash sale process at the stage of uploading documents
Hoping to commit to providing an efficient webcam device With an appropriate resolution of no less than (720p) (HD) connected to each computer you have dedicated to recording transactions on the platform for the purpose of use when conducting transactions of selling dollars to travelers through the aforementioned platform and within a maximum period of one week from the date of this announcement.
with respect. link
************
CandyKissses: Gold Regains Balance As Eyes Turn To Jackson Hole
Gold prices rose from five-month lows on Monday, August 5, after falling in the past five sessions, while investors' focus shifted to a meeting of central bankers in Jackson Hole, Wyoming, this week in anticipation of their expectations for the economy and interest rates.
Spot gold rose 0.3% to $1892,88.04 an ounce by 46:0 GMT, while U.S. gold futures gained 3.1921% to $70,<>.<>.
Gold fell to its lowest level since mid-March to $1883,70.<> last week after upbeat economic data increased bets that U.S. interest rates will continue to rise longer, reducing demand for non-yielding goods.
Investors will focus on Fed's Jerome Powell's speech on Friday at the annual conference of global central bankers in Jackson Hole.
According to the majority of economists polled by Reuters, the Fed is likely to have finished raising interest rates. A slight majority now expects the central bank to wait until at least the end of March before starting to cut rates.
Among other precious metals, silver spots rose 0.7% to $22.85 an ounce, platinum rose 0.1% to $910.83, and palladium gained 0.2% to $1258,49.<>.
************
Tishwash: Iran receives part of its frozen funds in Iraq
The Iranian Foreign Ministry spokesman, Nasser Kanaani, confirmed today, Monday, that part of the Iranian funds frozen in Iraq had been received.
Fares news agency quoted Kanaani as saying, "There is part of our assets in Iraq, which were difficult to obtain due to American interventions. Some of these assets have been transferred and are now under implementation.
The government will not give up the people's rights anywhere, and will continue this path, step by step," Kanaani added.
e did not indicate the amount of money and the way it was obtained.
On August 11, official Iranian media revealed the details of the agreement reached by Tehran with the United States of America under the auspices of a third country, which provides for the exchange of prisoners between the two countries and the release of Iranian funds frozen in South Korea and Iraq.
The official Iranian News Agency, IRNA, quoted an official source familiar with this agreement as saying, “This agreement requires Iran to release 5 American prisoners in exchange for the release of 5 Iranian prisoners in the United States of America.”
He explained that "in addition to that, 6 billion dollars of Iranian funds frozen in South Korea will be released, along with a large part also of Iranian funds in the Iraqi TBI Bank," noting that "the first stages of the process of releasing Iranian funds in European banks have begun." ".
On July 11, Prime Minister Muhammad Shia’ al-Sudani announced Baghdad’s contact with the US regarding the payment of Iran’s dues for Iraq’s gas imports, amounting to 9 billion and 250 million euros, adding that Iraq had paid “up to one billion and 842 million euros in the seven-month period of The life of the government according to the agreed mechanism.
Al-Sudani added that a delegation from the Central Bank of Iraq and the Iraqi Trade Bank left Iraq for the Sultanate of Oman with the aim of "agreeing on a formula for transferring these funds to the Sultanate of Oman in agreement with the US Treasury." link
Mot . I KNow Its Tough to Get Up fer School - but~~~~
Mot .. it is Funny How Satisfying it Feels - Huh!!!!
More News, Rumors and Opinions Sunday PM 8-20-2023
KTFA:
Clare: International standards for training central bank employees
8/20/2023
Baghdad: Hussein Thaghb Al-Tamimi
The Central Bank revealed the adoption of international standards for training employees, and this aims to keep pace with the rapid developments taking place in the financial sector around the world.
The director of human resources at the bank, Falah Salim Faleh, said in an interview with “Al-Sabah” that “the goal of the Central Bank is moving towards achieving an improvement in performance by keeping pace with the rapid developments taking place in the global financial system in all its aspects, by involving human resources working in the Central Bank in all aspects.” The departments are in continuous training courses under the supervision of the best experts.
KTFA:
Clare: International standards for training central bank employees
8/20/2023
Baghdad: Hussein Thaghb Al-Tamimi
The Central Bank revealed the adoption of international standards for training employees, and this aims to keep pace with the rapid developments taking place in the financial sector around the world.
The director of human resources at the bank, Falah Salim Faleh, said in an interview with “Al-Sabah” that “the goal of the Central Bank is moving towards achieving an improvement in performance by keeping pace with the rapid developments taking place in the global financial system in all its aspects, by involving human resources working in the Central Bank in all aspects.” The departments are in continuous training courses under the supervision of the best experts.
He stressed, "The continuation of qualifying human resources through a plan prepared for this purpose, as the Central Bank management believes in the importance of continuous education for all specializations, and that stopping education means moving away from the developments that the world is witnessing."
He pointed out that the Central Bank's strategies that it launched need qualified human resources with a high degree of experience to be able to master advanced technology, as human capital represents the basis in the process of developing performance, especially since the Central Bank differs from other state institutions and ministries and is the backbone of the economy. the National.
He stressed the launch of an advanced training vision that complies with international standards in training and within ISO 10015, and we have worked during the past few years to identify the gap between the desired goal and the one currently available, and we have worked today to bridge the gap through advanced qualitative training and global expertise.
He pointed out that "the good international relations of the Central Bank make the task of achieving the training goals easier than other institutions, as the human resources file receives great attention from the Governor of the Central Bank of Iraq, indicating that the banking sector environment is changing and witnessing rapid technological booms, in order to improve performance as a requirement." international, and this requires permanent training to keep abreast of the developments taking place in the global financial sector.
And he stated that "the human resources working in the Central Bank are highly interactive with the new information that enabled them to improve performance in more than one detail within the Central Bank, and we began to see the positive impact of training within the institution, and this is in line with our goals and aspirations." He urged the banking system to "empower their human resources in the administrative and technical aspects, to develop the performance of this sector to rise to the world in performance, and here it is necessary to preserve the trained employees whose skills were built according to international labor standards," pointing out the need for the training program for all banks to be continuous. And not to be complacent in this important joint.”
As for Rania Al-Amiri, the representative of House of Wisdom for Training and Consulting, she said: "The financial and banking sector needs a lot of internal and external training to develop current competencies and benefit from international experiences in order to invest in human capital and increase effectiveness in applying human resource management methodologies in accordance with international best practices."
And she indicated that "the training courses are continuing under the supervision of solid international expertise that has knowledge and knowledge of the needs of the Iraqi financial market, as work is underway to raise performance levels in all aspects of financial work and enable international standards in our banking sector in accordance with local laws and in a way that achieves benefit."
Al-Amiri indicated that "Tamkeen" The human resources working in the Central Bank of Iraq from the advanced technology gives them the opportunity to work in more than one detail within the departments of this institution that supervises the Iraqi money houses and works on evaluating them in a way that achieves the benefit of the country. LINK
************
Clare: World Bank: Iraq's economy is "fragile" and its debts have risen to $152 billion
8/20/2023
The World Bank announced that the Iraqi economy is fragile, and that the country's debts have increased to 152 billion dollars, noting that the Central Bank auction caused the redirection of hard currency to the parallel market, which led to a decrease in the value of the dinar against the dollar.
The World Bank said in the report issued on the economy in Iraq and its debts, under the title: (Renewed Pressures: Iraq's Recovery is in Danger), that "the Iraqi economy suffers from stagnation in non-oil gross domestic product, industries, and agricultural activities, which was accompanied by high inflation rates, as it lacks Iraq, under its current government, for wide-ranging structural reforms that would strengthen its economy away from oil.
He stated that "the annual budget approved by the government authorities is witnessing a significant increase in the volume of public expenditures by 59% over the previous year, which represents 74.3% of total spending, which will lead to a large fiscal deficit of 51.6 trillion Iraqi dinars - equivalent to 39.7 billion dollars." - Which represents 14.3% of the volume of public imports, i.e. more than half of the recent record reserves that were accumulated in the wake of the boom in oil prices.
And regarding the policies of the (central bank) in devaluing the local currency, the World Bank stated that "the devaluation of the Iraqi dinar led to an increase in overall and basic inflation, due to the heavy dependence on import operations in light of weak local production that is not supported by government authorities, which exposed the country's fragile economy." ".
The World Bank report added that "the standards of transactions adopted by the (Central Bank) through auctions for the sale of currency; caused the redirection of hard currency to the parallel market, which caused a decrease in the value of the dinar against the dollar." LINK
Turk182: How does this help the revaluation of the Iraqi Dinar, when the WORLD BANK comes out and states that "IRAQ'a ECONOMY IF FRAGILE"?
Does changing the value of the Iraqi Dinar, make it less Fragile?
Several, not so encouraging, articles of late. IF they go into 2024 WITHOUT delivering on their Promise to the Iraqi Citizens (Dinar worth more the USD) will they still actually follow-thru and make their Budget Retro for a full year?
Scarlette18: In my opinion, this is all just part of the smoke and mirrors show. In my opinion, I think now is a good time to revisit something I mentioned a yr or 2 ago about this probably now happening until the global economy crashes; and it seems as though the world's second largest economy just kicked it off with their real estate and "shadow banking" markets.
Won't be long before that contagion spreads across the globe, in my opinion. Many countries have already been in a recession for a while now and seems about time that we go hunting for a market bottom and deflation sets in, in my opinion.
With inflation where it currently is, it never really made sense to me to create millions of new millionaires and thousands of new billionaires that would just push inflation even higher, in my opinion. What makes sense to me is global economy crashes, rate changes, and all these fresh new millionaires and billionaires get the economic engines moving again, in my opinion.
How far out are we talking... not sure but things have been in the process of breaking for a while but now that the PRC has finally broken it doesn't seem like it will take long, in my opinion.
But all we can do is wait and see, and while we wait, accumulate, in my opinion of course. Happy Sunday everyone
Courtesy of Dinar Guru
Mnt Goat ...We wait for more news on the progression of the currency reforms being instituted by the CBI and the coming second “official” rate change to around 1000. But they are not there yet and I do not expect this will take too long now that the budget is released. What if they do experience inflation? They will also have to take more reform measures to combat it. Also, to coincide with the RV they would have to conduct the Project to Delete the Zeros thus the redenomination... there is no mistake on the CBI plan...
Militia Man Article: "Iraq is looking to accelerate its accession to the World Trade Organization" It's pretty exciting because they have come a long way...getting to the final end stage of being a full member has been ongoing for...about 3 years and they're in advanced stages... they're going to need to be Article VIII compliant with that. That's one of the major things we're hoping to see in the near future.
************
In 48 hours EVERYTHING changes for the U.S. dollar and Putin and China are ready | Morris Invest
Tuesday is a MASSIVE day for the future of the U.S. dollar as the BRICS nations come together for their first face to face summit in South Africa since the start of the pandemic.
The main focus of this event is moving away from the U.S. dollar and moving towards a gold backed BRICS currency to settle trade transactions.
Is The U.S. Dollar Going To Zero? How Superpowers Rise And Fall
Is The U.S. Dollar Going To Zero? How Superpowers Rise And Fall
David Lin: 8-20-2023
Marin Katusa, Founder of Katusa Research, discusses the perception of U.S. strength and the future of the dollar, as well as current investment opportunities.
0:00 - Intro
1:00 - U.S. dollar going to zero?
4:30 - Modern monetary theory
9:25 - Consequences of rising debt
11:00 - Alternatives to the dollar
Is The U.S. Dollar Going To Zero? How Superpowers Rise And Fall
David Lin: 8-20-2023
Marin Katusa, Founder of Katusa Research, discusses the perception of U.S. strength and the future of the dollar, as well as current investment opportunities.
0:00 - Intro
1:00 - U.S. dollar going to zero?
4:30 - Modern monetary theory
9:25 - Consequences of rising debt
11:00 - Alternatives to the dollar
"Tidbits From TNT" Sunday 8-20-2023
TNT:
Tishwash: Iraq is the focus of attention of the producing countries in the world
The Assistant General Manager of the Oil Marketing Company, Ali Nizar, stressed the need to use technological development in the oil sector, especially in the marketing sector.
In a statement to "Al-Iqtisad News", Nizar pointed out the importance of balance in oil pricing so that it is a fair price for producers and consumers to preserve the markets, pointing to the need to protect the marketing side from bureaucracy and instructions that may be commensurate with contracts or simple institutional instructions, but may constitute an obstacle to marketing. .
He added that Iraq, in its current situation, is the focus of attention of consumers because the producing countries in the world have reached their peak production and began to decline, while Iraq has many promising reserves, which we have always used this aspect to obtain an advantage in marketing negotiations link
TNT:
Tishwash: Iraq is the focus of attention of the producing countries in the world
The Assistant General Manager of the Oil Marketing Company, Ali Nizar, stressed the need to use technological development in the oil sector, especially in the marketing sector.
In a statement to "Al-Iqtisad News", Nizar pointed out the importance of balance in oil pricing so that it is a fair price for producers and consumers to preserve the markets, pointing to the need to protect the marketing side from bureaucracy and instructions that may be commensurate with contracts or simple institutional instructions, but may constitute an obstacle to marketing. .
He added that Iraq, in its current situation, is the focus of attention of consumers because the producing countries in the world have reached their peak production and began to decline, while Iraq has many promising reserves, which we have always used this aspect to obtain an advantage in marketing negotiations link
Tishwash: The World Bank: Iraq's economy is "fragile" and its debts have risen to $152 billion
The World Bank announced that the Iraqi economy is fragile, and that the country's debts have increased to 152 billion dollars, noting that the Central Bank auction caused the redirection of hard currency to the parallel market, which led to a decrease in the value of the dinar against the dollar.
The World Bank said in the report issued on the economy in Iraq and its debts, under the title: (Renewed Pressures: Iraq's Recovery is in Danger), that "the Iraqi economy suffers from stagnation in non-oil gross domestic product, industries, and agricultural activities, which was accompanied by high inflation rates, as it lacks Iraq, under its current government, for wide-ranging structural reforms that would strengthen its economy away from oil.
He stated that "the annual budget approved by the government authorities is witnessing a significant increase in the volume of public expenditures by 59% over the previous year, which represents 74.3% of total spending, which will lead to a large fiscal deficit of 51.6 trillion Iraqi dinars - equivalent to 39.7 billion dollars." - Which represents 14.3% of the volume of public imports, more than half of the recent record reserves that were accumulated in the wake of the boom in oil prices.
And regarding the policies of the (central bank) in devaluing the local currency, the World Bank stated that "the devaluation of the Iraqi dinar led to an increase in overall and basic inflation, due to the heavy dependence on import operations in light of weak local production that is not supported by government authorities, which exposed the country's fragile economy." ".
The World Bank report added that "the standards of transactions adopted by the (Central Bank) through auctions for the sale of currency; caused the redirection of hard currency to the parallel market, which caused a decrease in the value of the dinar against the dollar."
According to the World Bank, "Iraq's lack of diversification of income sources due to the chaotic policies of successive governments led to a contraction of the gross domestic product by 1.1% in 2023 and an increase in the country's public debt to reach 58.3%, after it was 53.8% in the previous year, which will reach 152 billion." dollars, an increase of $10 billion, while the total external debt amounted to $50 billion, and the internal debt amounted to $102 billion, which means that government authorities borrowed about $60 billion internally in the previous three years, at a rate of $15 billion annually, with annual interest on internal debts amounting to 16 to 17% of the total debt.
According to the bank, “the prospects for the economic future in Iraq are still exposed to great risks, due to excessive dependence on oil, which makes it vulnerable to shocks in oil markets and global demand, as evidenced by the recent decline in oil prices, in addition to the factors driving fragility that pose fundamental challenges.” economy, such as rampant corruption, poor service provision, infrastructure development, and security risks.
The World Bank added that "the continuation of government authorities in pursuing these policies will make the country's budget in favor of the political parties that have delayed the wheel of development and made it suffer from major imbalances despite the passage of two decades of allegations of the end of the war." link
************
CandyKisses: Politician: The government is required to pressure Washington to remove its forces from Iraq
Information/Baghdad...
Political analyst Sabah al-Uqaili said on Sunday that Washington's pressure towards Baghdad towards changing the name of advisers in Iraq to combat forces is a violation of agreements with the Iraqi government, pointing to the importance of the government's move to resolve the file of the US presence on the ground of Iraq.
Al-Uqaili told Al-Maalouma that "there is an urgent need for the government to pressure Washington to remove US forces from the country, within the agreements concluded with it in 2008 and 2020."
He added, "There is a bet on Iraqi diplomacy to establish sovereignty and independence and obligate the other side to respect the agreements that guarantee the complete exit of US forces from Iraq."
And he indicated that "Washington's move towards pressure towards converting the name of the American advisors into combat forces is contrary to the agreement with the Iraqi government in 2020, as the agreement stipulated the presence of advisers and trainers with a known number at the request of the government, and the deployment of foreign forces outside the Iraqi borders, but this matter did not happen." "
Mot: ..... When You Get That Callllllll
Mot: ... Tell me the Rest of the jingle~~
News, Rumors and Opinions Sunday AM 8-20-2023
KTFA:
Clare: Parliamentary Committee: The rise in the dollar is local and will not affect the investment side
8/19/2023
A member of the Parliamentary Investment Committee, Muhammad Al-Ziyadi, confirmed today, Saturday, that the rise in dollar exchange rates does not affect the investment side in the country, but rather it is a local rise.
Al-Ziyadi said, in an interview with {Euphrates News}, that "any investor who has investment licenses and papers can obtain the dollar currency at the official price of 132 thousand dinars per hundred dollars, and in the quantities he needs, and therefore its rise will not affect the market."
KTFA:
Clare: Parliamentary Committee: The rise in the dollar is local and will not affect the investment side
8/19/2023
A member of the Parliamentary Investment Committee, Muhammad Al-Ziyadi, confirmed today, Saturday, that the rise in dollar exchange rates does not affect the investment side in the country, but rather it is a local rise.
Al-Ziyadi said, in an interview with {Euphrates News}, that "any investor who has investment licenses and papers can obtain the dollar currency at the official price of 132 thousand dinars per hundred dollars, and in the quantities he needs, and therefore its rise will not affect the market."
He added, "The issue of high exchange rates is temporary, and it will end, because the government is able to end the black market file," but he pointed to "some complexity in the process because it does not concern Iraq only, but is a global issue."
Al-Ziyadi continued, "The issue of the blockade or the failure of the dollar to reach the countries of the region affected this file, and it is certain that it will end in the coming period."
From: Raghad Daham LINK
Clare: Economist: Kurdistan has turned into a cash dollar exchange
8/19/2023
The economist, Dr. Mahmoud Dagher, announced that the recent fluctuation in the exchange rate inside Iraq is due to speculation and the state of uncertainty that hit the market.
Dagher said during a session organized by the liberal platform, via the Internet, about the fluctuation of the exchange rate in the Iraqi dinar, which was attended by "Al-Iqtisad News", that "from 2004 until the end of 2020, the exchange rate of the dollar was fixed, at 1282 dinars per dollar, but the value of the dinar changed." To 1,450 dinars, and then to 1,300 dinars,” noting that “there is no document other than the white paper calling for a reduction in the exchange rate.”
He stressed that every person who wants to solve his political and financial problems goes directly to the exchange rate, while the economic problems represented in customs, tax, corruption and others must be solved, indicating that the new transfer system of the Central Bank has become unable to finance trade with any country or entity prohibited from dealing in dollars.
Dagher pointed out that Iraq's problem is represented by trade with Iran, which exceeds 12 billion dollars, and needs 35 million dollars daily, which has become a great pressure on the cash dollar to cover imports.
He noted that the merchants who import through the platform have great freedom in selling goods at the official price, which contributed to reducing inflation, stressing that the Kurdistan region has turned into the cash dollar exchange, and any black transfer that goes from Kurdistan to Turkey, Iran and Syria is the source of the region. LINK
************
Courtesy of Dinar Guru
Frank26 Question "If the rate goes to .75 or if it goes to 1 to 1 will that be enough income for the people of Iraq?" IMO any increase in the dinar value is added income and necessary for the Iraqi citizens. They're not trying to get rich...They're trying to eat and pay their bills. They will see value in their currency...Social Security...retirement checks...HCL. that alone is four different incomes they will be having very soon.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV saying with the funding of the budget we are going to see a major decrease in the dollar exchange rate. FRANK: They cannot touch the dollar exchange rate. Only the US Treasury can touch that exchange rate. So what are they talking about? They're talking about adding value to their currency which will decrease the value of the American dollar in their country. That's what they're talking about.
Saudi Arabia Just BROKE The Dollar - Record Treasury Dump
Sean Foo: 8-20-2023
Saudi Arabia has dumped their holdings of US treasuries to a 6-year low. Even as a global recession nears, Saudi Arabia is diversifying away from dollar assets into risky investments like stocks.
This underscores a big economic and geopolitical shift away from Washington and the world reserve currency. Here's what you must know and why the dollar system is in trouble.
Timestamps & Chapters:
0:00 Saudi's Dumping US Bonds
2:13 The Petrodollar Is Breaking
4:28 Saudi Arabia Is De-Risking
7:17 Where Is Saudi Money Going?
9:41 America's Impossible Choice
11:23 BRICS Summit Coming
China and Russia Unleash Cutting-Edge Payment System to Hit SWIFT!
China and Russia Unleash Cutting-Edge Payment System to Hit SWIFT!
DeepinMoments: 8-19-2023
Hello and welcome to Deepin Moments:I'm Elizabeth, and I'm excited to bring you the latest news. In this episode, we delve into a monumental shift that's sending shockwaves through the global financial landscape.
China and Russia have boldly stepped away from the conventional international payment system, Swift, igniting a fierce battle for financial supremacy.
Join us as we explore the profound implications of this game-changing decision and its potential to reshape cross-border payments.
China and Russia Unleash Cutting-Edge Payment System to Hit SWIFT!
DeepinMoments: 8-19-2023
Hello and welcome to Deepin Moments:I'm Elizabeth, and I'm excited to bring you the latest news. In this episode, we delve into a monumental shift that's sending shockwaves through the global financial landscape.
China and Russia have boldly stepped away from the conventional international payment system, Swift, igniting a fierce battle for financial supremacy.
Join us as we explore the profound implications of this game-changing decision and its potential to reshape cross-border payments.
China and Russia, economic powerhouses in their own right, are making an assertive bid to challenge the long-standing dominance of the US dollar. This audacious move has sparked a high-stakes global showdown with the potential to reshape international trade.
We uncover the intricate strategies behind this unprecedented decision and examine the alliances that are reshaping the dynamics of global power.
As China and Russia strengthen their bond, the United States reacts with a mix of envy and concern, attempting to sow discord between these unyielding allies.
Witness the evolution of their unbreakable friendship, forged amidst geopolitical complexities, and explore the efforts to erode the dollar's grip on the world stage.
Can this new alliance truly challenge the might of the US?
Join us as we analyze the battle of intellect, power, and influence on a worldwide scale. As China and Russia strategize to diminish US influence, the world watches keenly, eager to witness the unfolding power play.
Jim Willie and Sean Foo Saturday PM 8-19-2023
Jim Willie: BRICS Meeting, Gold, & The Latest On Silver
Arcadia Economics: 8-19-2023
While the world waits to see what the BRICS nations may or may not announce regarding a new currency block at their meeting next week, what seems less in question is the overall trend of countries setting up trade facilities that don't involve dollar dependence.
The removal of Russia from the SWIFT system last year continues to serve as a turning point in the global economic arena, and Dr. Jim Willie joins me on the show to talk about the balance of power that's taking place as we speak.
Jim Willie: BRICS Meeting, Gold, & The Latest On Silver
Arcadia Economics: 8-19-2023
While the world waits to see what the BRICS nations may or may not announce regarding a new currency block at their meeting next week, what seems less in question is the overall trend of countries setting up trade facilities that don't involve dollar dependence.
The removal of Russia from the SWIFT system last year continues to serve as a turning point in the global economic arena, and Dr. Jim Willie joins me on the show to talk about the balance of power that's taking place as we speak.
He describes the pressure that's being put on the treasury market, at the same time an increasing list of nations are adding gold via central bank purchases, and how that will continue to affect the financial markets.
Jim also talks about some of the recent developments in the silver market, and how he sees it evolving at the same time we're seeing the BRICS move away from dollar infrastructure.
He discusses conditions with the silver supply, how the banks will ultimately respond, and some of his thoughts on the American Eagle situation.
So to hear the latest from Dr. Jim Willie, click to watch the interview now!
Germany’s Industrial Collapse Is WORSE Than We Thought
Sean Foo: 8-18-2023
The German economy is getting crushed and is expected to stagnate well into 2025. There is a confluence of storms that include higher energy prices, labour shortage and decoupling from China. Here's why the once proud powerhouse of Europe is now facing their biggest economic crisis.
Timestamps & Chapters
0:00 Germany Is Stagnating
2:32 Energy Crisis Isn't Over
4:57 Deindustrialization Pain
7:43 Inflation Still Sky High
9:55 Germany's Big Gamble
12:17 A Miracle Is Needed
BRICS Bank Just Dropped A Huge Bombshell | Stuns Everyone With This Move
BRICS Bank Just Dropped A Huge Bombshell | Stuns Everyone With This Move
Tech Revolution: 8-19-2023
In a rapidly changing global landscape, where cooperation and collaboration shape the future, a major development is unfolding that could redefine international dynamics.
As the world watches these developments unfold, it becomes evident that the BRICS is not just an institution, it's a symbol of collaboration, innovation, and a new paradigm that transcends traditional power dynamics.
Just recently, Russia made a significant statement confirming the potential improvement of the BRICS group by welcoming new members. As a quick recap, the current members of the BRICS group are Brazil, Russia, India, China, and South Africa.
BRICS Bank Just Dropped A Huge Bombshell | Stuns Everyone With This Move
Tech Revolution: 8-19-2023
In a rapidly changing global landscape, where cooperation and collaboration shape the future, a major development is unfolding that could redefine international dynamics.
As the world watches these developments unfold, it becomes evident that the BRICS is not just an institution, it's a symbol of collaboration, innovation, and a new paradigm that transcends traditional power dynamics.
Just recently, Russia made a significant statement confirming the potential improvement of the BRICS group by welcoming new members. As a quick recap, the current members of the BRICS group are Brazil, Russia, India, China, and South Africa.
Russia views this assembly of emerging economies as an increasingly vital and influential counterbalance to the Western-dominated global landscape. Kremlin spokesperson Dmitry Peskov spoke out on the matter, emphasizing, "We firmly believe that the expansion of BRICS, in one way or another, will contribute to the organization's ongoing growth and reinforcement."
Peskov's comments followed remarks by Brazilian President Luiz Inacio Lula da Silva, who stressed the "extreme importance" of Saudi Arabia, Argentina, and the United Arab Emirates considering joining BRICS.
Russia maintains productive relationships with these three countries. However, Peskov emphasized that it's wise not to rush discussions on specific nations before the topic is formally addressed during the upcoming BRICS summit in South Africa, scheduled for August 22-24.
This move to fortify BRICS aligns with Russia's broader strategy of diluting the dominance of the United States and cultivating a fresh "multipolar world." The country is keen on bolstering ties with developing nations that have abstained from criticizing its actions. This approach aims to ramp up trade partnerships to counterbalance the impact of Western sanctions on Russia's economy.
As the BRICS summit approaches, Foreign Minister Sergei Lavrov will represent Russia, as President Vladimir Putin has opted out of attending in person.
Let us get to know who will be the key players in this summit. First, we must know the NDB, or New Development Bank, and how it's shaping up in the BRICS countries. This bank is like a financial safety net, helping these nations steer clear of financial crises.
And Pan Helin from Zhejiang University’s Business School thinks Saudi Arabia would be a fantastic fit for the NDB. Why? Well, because Saudi Arabia's got its finances on lock and doesn't carry too much risk baggage. Adding them to the NDB mix could supercharge the financial firepower of the BRICS and make them even more awesome at handling crises.
Speaking of numbers, NDB bonds are seriously impressive, with a yield of 5.1%. That's a whole 100 basis points ahead of the World Bank. Experts say Saudi Arabia joining the NDB could turbo-boost the nation's economic diversity and growth.
Also, Professor Zhu Jie from Fudan University thinks Saudi Arabia could start the party by applying to join the NDB first, before fully committing to the BRICS gang.
Hold up, the NDB is all about welcoming new pals. And the stars seem to be aligning for Saudi Arabia's entry, according to some pretty trustworthy sources. The NDB is having some serious talks with Saudi Arabia, considering the possibility of making Riyadh its ninth member.
As I’ve said, initially, it was all about the BRICS countries. But now, it's like they're expanding their circle and considering adding Saudi Arabia to their bloc. So, let's talk numbers for a sec.
The BRICS bunch together makes up a quarter of the entire world's GDP. The NDB has already given the thumbs up to more than 90 projects, handing out a massive $32 billion in loans by October 2022.
Experts are nodding their heads at the thought of Saudi Arabia joining the mix. They're saying it could level up the BRICS squad's ability to deal with risks, especially as the whole world seems to be moving away from depending on the dollar.
And guess what? The NDB fam recently grew a bit when the UAE, Uruguay, Bangladesh, and Egypt hopped on board. Marcos Troyjo, the President of the NDB, is pretty pumped about this. It's one of the world's fastest-growing economies, and having them on board is a big deal, especially as they celebrate their 50th independence anniversary this year.
Bangladesh's Finance Minister AHM Mustafa Kamal is totally on board too. He's thanking the NDB for giving the thumbs up so quickly. More Details In The Video