“Tidbits From TNT” Wednesday 5-1-2024

TNT:

CandyKisses:  Minister of Labor gives good news to workers: Wait next week

Economy News - Baghdad

Minister of Labor and Social Affairs Ahmed Al-Asadi announced on Wednesday an increase in the salary of retired workers by 100,000 dinars.

According to a statement by the Ministry of Labor, received by "Economy News", "Minister of Labor and Social Affairs Ahmed Al-Asadi gives good news on the occasion of International Workers' Day, by increasing the salary of retired workers by 100,000 dinars."

He pointed out that "the decision to increase the salary of retired workers will be voted on at the Cabinet meeting next week

Tishwash:  The International Comprehensive Shopping Festival kicks off in an Iraqi governorate

Today, Wednesday, the activities of the 2024 Governorate International Shopping Festival were launched on the grounds of the Najaf International Fair, which will continue for 10 days with the participation of more than 200 Arab, foreign and local companies.

The media official for the Najaf International Fair, Haider Al-Moussawi, said: “The 12th edition of the Najaf International Comprehensive Shopping Festival, which was held on the grounds of the Najaf International Fair, was attended by eight Arab and foreign countries, namely Egypt, Syria, India, Pakistan, Lebanon, Turkey, Iran and Jordan, in addition to... Iraqi companies.

He pointed out, "The number of companies participating in the exhibition reached more than 200 Arab, foreign and local marketing companies, displaying various commodity products that supply the local Iraqi and Najafi markets in particular with various goods."

Al-Mousawi added, "The exhibition is considered a great arena for the owners of companies and factories to meet to support and move the wheel of the local economy in Najaf and the Middle Euphrates region, by viewing the various products of the participating countries," stressing that "the festival witnessed a great demand by citizens for shopping  link

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Tishwash:  90 percent of it comes from across the border. Parliament unveils a new strategy to limit currency smuggling

Member of the Parliamentary Security and Defense Committee, Representative Yasser Iskandar, confirmed today, Wednesday (May 1, 2024), that 90% of the counterfeit currency comes from across the border.

Iskandar said in an interview with "Baghdad Today", "Counterfeiting foreign currencies is one of the challenges that emerged remarkably in the Iraqi scene after 2003, led by mafias and multinational networks, some of which are for fraud and making money, and others carry an agenda of harming the economic reality."

Iskandar added, “The counterfeiting of currencies was not limited to foreign currencies, including the dollar, but rather extended to the dinar through the highest monetary denominations and in professional ways, which demonstrates the capabilities of the counterfeiting mafias,” pointing out that “90% of the counterfeit currencies come directly from across the border and are the most dangerous because of The development of the counterfeiting machine.

He pointed out that "the Interior Ministry's formations succeeded in reducing the counterfeiting of currencies by dismantling some networks, arresting their members, adopting a new strategy in monitoring and follow-up, and forming specialized teams to undertake the file of prosecuting those involved. He stressed that educating the community and clarifying the features of counterfeit currencies reduced the percentage of those who fall into their trap in... Markets and others, but they remain a source of limitation, especially with the attempts of these networks to continue counterfeiting crimes.”

Iraqis are experiencing widespread anxiety due to information about the spread of large quantities of counterfeit currency denominations of 25,000 Iraqi dinars, while social media has circulated video clips of people who have spotted large quantities of these newly printed counterfeit bills.

On Sunday (April 28, 2024), the National Security Service announced the dismantling of a money counterfeiting gang in Babil Governorate and the arrest of three others in Basra and Anbar Governorates. 

A statement by the agency received by “Baghdad Today” stated, “The National Security Service in Babil Governorate was able, after field efforts and obtaining judicial approvals, to overthrow a two-person gang of counterfeiting US dollar denomination money and promoting it in a number of commercial stores.”

He added, "Our detachments collected complete information about these two individuals to suspect them and track them down until they were caught red-handed. They were seized with an amount of (20,700) counterfeit dollars that they intended to distribute in commercial activities." 

He continued, "In Anbar and Basra governorates, our detachments were able to arrest three people for trading in counterfeit currency after luring them into an ambush, where about (8,000) counterfeit dollars were seized in their possession." 

He pointed out that "the defendants and the seized items were referred to the competent judicial authorities to take the necessary measures in accordance with the law."  link

Mot:   ~ Peasant Maypole Dance ~~~~

https://www.youtube.com/watch?v=VYhQ2hp68bY

Mot:  . Wishing You a ~~~~

Goldilocks' Comments and Global Economic News Tuesday Evening 4-30-24

Goldilocks' Comments and Global Economic News Tuesday Evening 4-30-24

Good Evening Dinar Recaps,

Department at the Central Bank of Iraq and the Association of Private Banks organized the activities of the Arab Financial Inclusion Week at Al-Muthanna University - College of Management and Economics, in cooperation with the International Labor Organization.

The events included a seminar to introduce financial inclusion, a lecture on electronic payment and digital inclusion, as well as various lectures on financial stability, financial education, and the green economy project, in addition to concessional financing services for young entrepreneurs and businessmen.

It is noteworthy that these activities come within the Financial Inclusion Week, which began on April 27 and continues until May 2, with the aim of enhancing financial awareness and promoting financial inclusion in Iraqi society.  https://cbi.iq/news/view/2560   Central Bank of Iraq   Information Office   30 - April - 2024

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Emerging Markets Banking Announcement:

Burke joins MarketAxess as Global head of Emerging Markets

29 April 2024

Dan Burke will be responsible for the development and execution of business strategy for the EM business in both hard currency and local markets.

MarketAxess Holdings Inc. (MarketAxess) is an international financial technology company that operates an electronic trading platform for the institutional credit markets,[2] and also provides market data and post-trade services.[3] It enables institutional investors and broker-dealers to trade credit instruments, including corporate bonds, and other types of fixed income products.[4]  Asset Servicing Times  Market   Axess   Wikipedia

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Crypto ETF Announcement:

Hong Kong begins trading ETFs tomorrow.

Bitcoin ETF and Ethereum ETF

They expect to have better trading volumes than the US on the first day.

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"FIATA International Federation of Freight Forwarders Associations announces the release of the Key Trade Documents and Data Elements (KTDDE) report, by the International Chamber of Commerce Digital Standards Initiative (ICC DSI), to which FIATA was a key contributor."

Freight Forwarders are intermediaries between companies who make products and the final destination for those goods. Freight Forwarders direct various transport options such as sea/ocean freight, rail freight, road transport, and air freight shipment.

We learned yesterday that the digital standardization of what we are talking about in this brief article has been completed. Today we learn, there are 36 key trade documents that are needed to be standardized inside the international trade ecosystem.

This includes the cross-border paperless trade tool kit. It is a tool kit providing information for the World Trade Organization and the United Nations Commission on International Trade Law.

This gives the World Trade Organization who is currently deciding weighted percentages on trade values for the Global Nation. This information will go a long way in determining exchange rates for countries around the world.

Digitizing and Standardizing the new Global Trading mechanisms for the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) will go a long way in leveling the playing field for Global trade.   AJOT   DVS   Tax - Thomson Reuters

WATCH THE WATER.

© Goldilocks

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"As China's big banks pull back from financing Russia-related transactions, some Chinese companies are turning to small banks on the border and underground financing channels such as money brokers - even banned cryptocurrency - the sources told Reuters."

In order to keep some of China's very profitable institutions afloat. China and Russia are going underground with Brokers and small banks near the border utilizing digital payments as their source.

Crypto payment exchange is part of this new shift in trade with Russia and China because of the sanctions that are being placed on Russia by the US.

This is only driving the push toward a new digital economy forward at a rapid pace. These new avenues of payment sources are giving more reasons for China and Russia to de-dollarize their financial system and move toward a Level Playing Field in trade with each other.  TBS News

© Goldilocks

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Mass adoption for the XRP Ledger has begun in Japan. This move will give Japan much more breathing room for the Yen.

XRP will provide a liquidity source that can replace the dollar in currency exchange for that country going forward and others who trade with them using the new digital asset-based trading system.

A move like this will give them less reliance on Swift and more reliance on The XRP Ledger and XRP Stablecoin to move their money digitally.

Now, we can expect the dedollarization process to speed up in Japan as they begin the process of selling their dollars for gold.  Coin Telegraph

© Goldilocks

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LONDON (Reuters) - "Regulators must equip themselves with tools such as "bail-in" bonds to deal quickly with a failed clearing house for stocks, bonds or derivatives without having to call on taxpayers for cash, the G20's risk watchdog said on Thursday."

We have never seen this in our lifetime. The danger of Clearing Houses, those who move our money, failing to do so because of a lack of money on both sides of a trade.

And, we are being told that it will not be taxpayers that make up the difference in these losses, even though, inflation is a form of tax that has been confiscated from people around the world to probably make up the difference in these losses.   😉

Ripple and Ripple Ledger is beginning to be activated in some major countries at this time that will move some of these Clearing House transactions to The XRP Ledger.

This is why we will see challenges in the movement of money for a period of time as Clearing Houses transition some of the movement of money into Wire (Digital) Houses going forward. Finance Yahoo Investopedia

© Goldilocks

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Electronic Transfer Vs Wire Transfer: How They Work | Stax Payments

We are transitioning from the movement of money through wirehouses to electronic transmissions of money.

This is where the new digital economy will be taking over the traditional ways of moving money.

Electronic movement of money is far more efficient and faster than traditional modalities.

Part of the transition into this new transmission of money will create some backup logs in the old system.

My understanding is the QFS has been running side by side with the old system to coordinate and catch the inevitable snags that may come our way.

© Goldilocks

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French Hill, a prominent Republican member of the US Financial Services Commission, has expressed his willingness to support combined legislation linking cannabis banking to stablecoin regulation, pending negotiations. | Cryptodnes

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New Research from Material and NewtonX Reveals Shifts in Digital Ad Spending and Social Media Strategies

New insights show how advertisers and agencies are succeeding and spending in an era of advertising targeting, social media and AI    BusinessWire

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Dollar Dominance: America's Power Pivot | Youtube

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Russia gives mixed signals about common BRICS digital currency - Ledger Insights - blockchain for enterprise

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Bank of Japan launches CBDC API Sandbox, publishes digital yen report - Ledger Insights - blockchain for enterprise

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URGENT & BREAKING NEWS Iraq Vietnam  How to Buy ZiG Zimbabwe | Youtube

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Distributed Ledger Technology (DLT) Explained | Youtube

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Ripple and Hashkey DX Partner to Boost Blockchain Supply Chain Solutions in Japan – News Bytes Bitcoin News

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Uphold Fees & Limits | Uphold Help Center

Hi yeah I know it is sad ,

We wanted to let you know that we’ve increased the deposit and withdrawal limits that apply to your Uphold Wallet.

Don’t worry, there’s nothing for you to do. Please see the changes below:

Deposits (Daily and monthly limits have been removed)

ACH Micro-deposits:
Weekly deposit limit: $2,000 
Limit per deposit: Increased from $500 to $2,000

ACH Plaid:
Weekly deposit limit: $10,000 
Limit per deposit: Increased from $500 to $10,000

Cards/APMs:
Maximum limit per deposit: $15,000
Weekly limit: $15,000

Withdrawals (Monthly limits have been removed)

ACH Plaid & ACH Micro-deposits
Daily withdrawal limit: Increased from $10,000 to $25,000

Debit Cards:
Weekly withdrawal limit: $5,000 
For more details, please refer to our FAQs.

Thank you,   Team Uphold

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👆Something has changed...

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Why Do Banks Have Limits and Holds? - Grasshopper

These regulations not only help to keep the bank financially safe but protect you as well. For example, if you were to experience fraud, withdrawal limits are in place to prevent hackers from being able to remove all the funds from your account. 

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This is just a speculation and don't hold me to it, but I suspect new regulation security measures have just been placed on the QFS to allow such freedoms.

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Stellar Development Foundation Quarterly Review: Q1 2024 | Youtube

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Andy Schectman: Russia Responds With $440 Million Sanction On JP Morgan Assets

Andy Schectman: Russia Responds With $440 Million Sanction On JP Morgan Assets

Arcadia Economics:  4-30-2024

There’s a growing chance that a few decades from now we’ll look back at what happened on March 11, 2022, when Russia was kicked out of the SWIFT system, as one of the major turning points of our modern financial system.

At that point the US had already frozen over $300 billion of Russian assets after Russia’s invasion into Ukraine. And following the decision to remove Russia from SWIFT, we’ve seen an acceleration of the de-dollarization movement, as other countries have wondered whether they could be next.

 Now the US is considering sanctions against China, while moving legislation forward to confiscate the frozen Russian assets, and Russia has responded by sanctioning $440 million of JP Morgan assets.

To find out more about this disconcerting escalation, Andy Schectman checks in for his weekly report, and you can click here to watch it now!

https://www.youtube.com/watch?v=nEbjdT0ioAE

More News, Rumors and Opinions Tuesday Afternoon 4-30-2024

KTFA:

Clare:  Financial inclusion organizes various events in Muthanna Governorate

4/30/2024

The Financial Inclusion Department at the Central Bank of Iraq and the Association of Private Banks organized the activities of the Arab Financial Inclusion Week at Al-Muthanna University - College of Management and Economics, in cooperation with the International Labor Organization.

The events included a seminar to introduce financial inclusion, a lecture on electronic payment and digital inclusion, as well as various lectures on financial stability, financial education, and the green economy project, in addition to concessional financing services for young entrepreneurs and businessmen.

It is noteworthy that these activities come within the Financial Inclusion Week, which began on April 27 and continues until May 2, with the aim of enhancing financial awareness and promoting financial inclusion in Iraqi society.

Central Bank of Iraq
Information Office
30 - April - 2024

Don961:  Optimism to attract more customers to the field of banking operations

Economical  04/30/2024

  The Financial Inclusion Week activities were launched in cooperation between the Central Bank, the Association of Private Banks, and a number of financial and banking institutions. Executive Director of the Association of Private Banks, Ali Tariq, told Al-Sabah:

The Central Bank and the Association of Banks have been working for a long time to launch Financial Inclusion Week throughout the country, as it continues for a week, and its activities are implemented in commercial centers, universities and other institutions, in coordination with the Arab Monetary Fund. And his supervision.

He added that financial inclusion aims to reach all segments of society and seek to integrate them in order to obtain banking services such as credit, deposits, and others.

He explained that there is a significant growth in the rate of financial inclusion, and this is due to the efforts of the government and the banking sector, as well as the launch of the Central Bank’s inclusion strategy. 

Tariq continued that inclusion contributes to reducing poverty and creating new job opportunities by enabling individuals to start their projects, and this reflects positively on enhancing economic stability as well as supporting small and medium-sized companies, in addition to the fact that inclusion also focuses on women and attempts to improve their economic conditions by empowering them.

During Financial Inclusion Week, banks, electronic payment companies, and financial companies provide free bank account and prepaid card opening services, in addition to answering inquiries about other services such as loans, deposits, financial transfers, and others.

In turn, international financial inclusion expert Professor Sadiq Al-Shammari told Al-Sabah: Financial inclusion represents an important dimension in the comprehensive and sustainable development strategy because of its impact on improving growth opportunities and financial and social stability.

He added that banking mechanisms and the advantages resulting from the use of electronic payment methods closely linked to banking will help expand the phenomenon of financial inclusion to become double what it is today, indicating that the number of banking operations will increase at acceptable rates commensurate with the targeted plans in this regard.

As for the advisor to the International Smart Card Company, Ghazi Al-Kinani, he told “Al-Sabah”: Electronic payment companies and private and government banks, in cooperation with the Central Bank, have made great efforts to interact citizens with banking products and enhance trust between the two parties. 

Financial inclusion means disseminating financial and banking products and services at reasonable costs to the largest segment of society, institutions, and individuals, especially low-income segments, in contrast to financial exclusion, which excludes these segments.   LINK

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

PompeyPeter  Sudani has said on several occasions talked about commencement of the reconstruction of Iraq in the month of April.  Salih the economic advisor talked about them spending 50% of GDP in April.  Well he said within two weeks which would take us to the end of April...In order for those things to happen it means the investment side of the budget has got to be opened.  They're not going to be doing all these things at 1310.  We know the contracts cannot be written in dollars anymore.  They're in IQD.  Again these things are not going to be done at 1310.

Frank26   [Iraq boots-on-the-ground report]    FIREFLY:  No word yet on the budget thus we thinking it will never get there first without the CBI popping the rate first then goes to parliament.  FRANK:  Yes, 100%...You cannot launch a rocket without fuel.  You cannot launch this budget without the exchange rate...

BRICS Currency, END of US DOLLAR Hegemony & Why Central Banks are STOCKPILING GOLD| Andy Schectman

Lena Petrova:  4-30-2024

https://www.youtube.com/watch?v=D-8VEnNHx0M

STOCK MARKET: (Caution Advised). Gold, Silver, Crypto SMACKDOWN! Important Updates.

Greg Mannarino:  4-30-2024

https://www.youtube.com/watch?v=QyQVOFkCyy4

“Tidbits From TNT” Tuesday 4-30-2024

TNT:

CandyKisses:  Government official reveals the actual date of the start of the implementation of the development road project

 {Local: Euphrates News} The General Company for Iraqi Railways in the Ministry of Transport set early next year 2025 as a date to start the actual implementation of the "Development Road" project, after seven governorates approved its route, confirming the achievement of 66% of railway designs on this road.

The general manager of the company, Younis Khalid Al-Kaabi, said in a press statement that "the project (development road) is large and gigantic, and the Ministry of Transport is the incubator for it, both rail and land," noting that "the project is in the process of progress in the initial designs, as the percentage reached more than 66% of railway designs, and 50% of the land road designs, and the soil investigations exceeded nearly 1,000 kilometers, with a completion rate of 89% for the areas north of Baghdad to the border, and 85% from south Baghdad to Faw."

"The soil investigation and topographic survey teams are continuing their work, and the Italian designer continues to complete this project according to the set time, which is one of the world's leading consulting firms," he added.

"The General Railways Company has all the documents reviewed and approved regarding the (Development Road) project in cooperation with experts and designers in the Italian company, and communication with all the governorates through which the road passes and the ministries concerned with it," al-Kaabi said.

Tishwash: The Iraq Stock Exchange receives the shield of the Arab Financial Markets Union in Doha

The Iraq Stock Exchange received the shield of the Arab Financial Markets Union in Doha.

A statement from the Securities Commission, received by the Iraqi News Agency (INA), stated that “the Iraqi Stock Exchange participated with the Arab financial markets in the work of the meeting of the General Authority for Arab Financial Markets, and the opening of the trading session of the Qatar Stock Exchange, in addition to the annual conference of the Arab Financial Markets Federation sponsored by the Qatar Stock Exchange.” , which was hosted by the Doha Stock Exchange / State of Qatar for its 2024 edition.

He added, "He also participated in financial market discussions with financial technology experts and the future of trading in financial instruments and ongoing financial market experiences, and discussed the performance of Arab financial markets that are members of the Arab Federation AFCM and joint cooperation plans," pointing out that "the Iraqi Stock Exchange won the position for the second year." First in average daily trading volume for 2023 indices, and won the Arab Capital Markets Federation shield in Doha.”

He continued: “While the Saudi Tadawul market achieved the best position in the number of contracts executed and in the trading value achieved for the indicators of the year 2023,” noting that “the Egyptian Stock Exchange achieved the best return on trading and the best number of new investors for the year 2023, along with the stock exchanges of Jordan (Amman), Bahrain, and Abu Dhabi.” As the best stock exchange in ESG indicators and PE ratio.  link

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Tishwash:  Budget schedules postpone the House of Representatives' recess

The Parliamentary Finance Committee expects the general budget schedules for the year 2024 to arrive at the beginning of next May.

The tripartite budget tables need to be reviewed periodically every year, to adjust project costs and salary bills and include new projects. This means that the budget is past and does not need to be approved in full, since it was approved last year.

The 2024 budget is at a standstill between the government and the House of Representatives, despite the approval of a tripartite budget for the first time in the country’s history, and despite the fact that the Ministry of Finance sent the tables more than a month ago to the Council of Ministers, at a time when the Parliamentary Finance Committee demanded that the government send the final accounts of the previous budgets.

The Finance Committee is awaiting the arrival of the budget schedules, according to a previous statement by its Chairman, Atwan Al-Atwani, to “correct the path of the budget by maximizing non-oil revenues, encouraging the private sector, and reducing operational spending,” while the House of Representatives decided to extend its legislative term, which will end next May 9, “until it is approved.”

Budget tables.” Representative Kazem Al-Fayad told Al-Sabah: “We in the House of Representatives are waiting for the general budget that the government will send after approving its schedules,” and added, “The schedules were supposed to arrive no later than the second month of the current year.”  link

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Tishwash: Al-Fateh: Washington is fighting for its continued presence inside Iraq

 On Monday, a member of the Al-Fatah Alliance, Mahmoud Marei, confirmed the falsity of the American administration regarding the issue of removing combat forces from the country after the Dutch ambassador’s statement of the continuation of the international coalition’s mission in Iraq, while he stressed that Washington is fighting for its continued presence inside Iraq.  

Mar'i said in a statement to the Al-Ma'louma Agency, "Washington continues to create crises and raise security, economic, and societal problems, to use them as an excuse to stay in Iraq," noting that "targeting Iraqi military and security symbols is one of Washington's malicious plans." 

He continued, "The Iraqi Islamic Resistance's rejection of the foreign presence is the most prominent obstacle that America has failed to overcome," noting that "the continued foreign presence in Iraq represents the largest military operation compared to the many victories of the resistance that were achieved against them in the previous period." 

Mari concluded his speech: “Foreign embassies work through many malicious plans that they spread within society in order to gain public opinion’s support for the military presence,” pointing out that “the United States of America is fighting for its continued presence inside Iraq.” 

The Ambassador of the Kingdom of the Netherlands to Iraq, Hans Sande, had confirmed in a statement that his country would take over the leadership of the NATO mission in Iraq in mid-May, indicating that it would be the largest in the world at the level of institutions outside the Dutch borders. 

The State of Law Coalition, in an interview with the Maalouma Agency, described the formation of joint committees to remove foreign combat forces as a blatant American game, while stressing that the exit of American forces will not take place through diplomatic means or political negotiations.  link

Mot ... Oooooooh Deeeeeeeer!! -- Waats Next???? 

Mot: . Ya Gots to Love ole ""Earl""

News, Rumors and Opinions Tuesday AM 4-30-2024

BRICS: $260 billion in trade without a single dollar

Mon 29 Apr 2024 –  by Luc Jose A., Cointribune

As the American debt’s wild growth of more than 34,600 billion dollars continues to raise concerns, the BRICS deliver another blow to the greenback. China and Russia, two founding countries of the alliance, plan to conduct 260 billion dollars of trade without resorting to a single American dollar. Only Russian ruble, Chinese yuan, and a little bit of euro.

 Other members of the coalition are expected to follow suit soon. Perceiving the immediacy of the threat, the USA reacts by combining threats and diplomacy. 

China and Russia accelerate the BRICS dedollarization plan

The threat of dedollarization of global trade has gone beyond the stage of rhetoric. Determined to dethrone the greenback, China and Russia plan to conduct this year 260 billion dollars of trade without using a single dollar.

The information was conveyed on X by the famous Indian geopolitical analyst S.L. Kanthan, who predicts that this initiative will soon become widespread within the BRICS. Indeed, last year, China and Russia had conducted several official trade transactions in yuan and ruble.

Likewise, Russia has for some time been conducting transactions in yuan with several countries, including Japan, the United Arab Emirates, Singapore, Malaysia, Thailand, the Philippines, Mongolia, and Tajikistan.

https://dinarchronicles.com/2024/04/30/china-and-russia-to-conduct-260-billion-worth-in-trade-without-using-the-us-dollar/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26    [Iraq boots-on-the-ground report]     FIREFLY: We have Saleh the finance advisor to Sudani on television, Iraqi Channel One right now and he's saying that today the 2024 budget it's in full force.  He also says it's active and there's no need to send this budget to parliament for any approval.  We are very confused.  We thought it was being amended...Now saying no need to send.  FRANK:  The budget does not need parliament.  I keep telling you this over and over over.  The budget waits for the new exchange rate.  The exchange rate is not waiting for anyone or anything especially stupid parliament.

Militia Man  Article:  "We will see the dollar decline in the black market soon...the central bank's credit rating [from the World Bank] is an A++ and exceeded the United Arab Emirates..."  That's the prime minister's advisor talking...That's phenomenal.  It's big.  It says a lot.  It says they have trust.  It says Iraq has the ability to pay back their bills.

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Ariel:  Dinar On The Move- 

 Al Saleh stated that the 2024 budget is already in full force. 

 Iraq also announced a new platform (SAP) that allows their currency to go international.

 The parliament is no longer needed to make any amendments to the budget.

 The exchange rate supposedly ready to come out prior to May 9th. 

 They are now debating whether or not the rate should float or come out at a fixed price. 

The Parliamentary Integrity Committee confirmed that Iraq can track money laundering crimes, through its supervisory bodies, even outside the country.

The Parliamentary Finance Committee confirmed today, Monday (April 29, 2024), that the positive results of the Prime Minister’s visit to Washington will appear soon. (Rate Change?)

The Sudanese signed 18 memorandums of understanding during their visit to Washington 10 days ago.  

Mastercards are being given to the Iraqi citizens to purchase fuel, merchandise, and online shopping. 

Al-Awadi pointed out that "Iraq needs investments to exploit its wealth, as well as to develop the industrial and agricultural sectors, so that we can move from a rentier economy to a market economy, support the private sector, and provide more jobs in the private sector.

Fed. Chair Powell WARNS "There WILL BE MORE BANK FAILURES." And THE PUBLIC WILL PAY!

Greg Mannarino:  4-29-2024

https://www.youtube.com/watch?v=nkrD8TNRUEs

Top CFOs EXPOSE THE TRUTH about US Economy Failure, CBDC Launch by 2026 and AI Replacing Jobs

Lena Petrova:  4-29-2024

https://www.youtube.com/watch?v=cJD2vANwq2Q

The Fed’s Game Of “Make Believe” Comes To An End

The Fed’s Game Of “Make Believe” Comes To An End

Notes From The Field by James Hickman (Simon Black)  April 29, 2024

It’s barely been a year since the 2023 bank crisis in which several large banks, including Silicon Valley Bank and Signature Bank, failed.

At the time, I wrote that the bank failures weren’t over, and that there would be more.

But it’s been quiet for most of the last year; the banking system has been pretty calm thanks in large part to an emergency program that the Federal Reserve created to bail out other troubled banks.

They called it the Bank Term Funding Program (BTFP), and it essentially expired a few weeks ago. In other words, no more emergency lending to troubled banks.

Barely a month later, we have already witnessed our first casualty: Pennsylvania-based Republic First (not to be confused with First Republic, which failed last year) was shut down by regulators on Friday afternoon.

Republic First had the same issues as the others that failed last year — too many ‘unrealized bond losses’ on their balance sheet.

Just like Silicon Valley Bank, Signature Bank, etc. last year, Republic First had used their customers’ deposits to buy US Treasury bonds in 2021 and 2022, back when bond prices were at all-time highs.

By early 2023, the situation had reversed. Bond prices had plummeted; even supposedly ‘safe’ and ‘stable’ US Treasury bonds had fallen substantially in price, and banks were sitting on huge losses.

Remember that bond prices fall when interest rates rise. So when the Fed jacked up interest rates from 0% to 5% in an attempt to control inflation, they were simultaneously creating huge losses in the bond market... which also meant huge losses for banks.

Silicon Valley Bank was just the tip of the iceberg. Plenty of other banks (including Bank of America) had racked up enormous bond losses. In fact the total unrealized losses in the banking sector last year amounted to a whopping $620 billion.

The Fed knew they had an enormous problem on their hands. So they created this Bank Term Funding Program, which was basically a giant game of ‘make believe’.

Through the BTFP, banks were allowed to borrow money from the Fed using their cratering bond portfolios as collateral. But instead of valuing the bonds at the actual market price, everyone simply pretended that the bonds were still worth 100 cents on the dollar.

In other words, the banks just made up prices for their assets, and the Fed allowed them to do it.

(It’s ironic that a certain former President is on trial in New York City for inflating the value of his assets, even though banks were inflating the value of their bonds through the BTFP.)

The Fed managed to prevent any further embarrassing bank failures last year by sprinkling this magical fairy dust across the banking system.

But now that the BTFP has expired, it has become obvious that problems in the banking system haven’t gone away. Republic First’s failure a few days ago is just one symptom.

Think about it: Bond prices are still down (because interest rates remain much higher than they were in 2021-2022). Banks are still sitting on massive unrealized losses.

And now that the Fed has stopped playing ‘make believe’, the bank failures have started up again.

It’s not to say that ALL banks are in terrible shape; some banks wisely used the last twelve months to get their financial houses in order.

Unfortunately most didn’t... which is why there’s still more more than HALF A TRILLION dollars in unrealized losses in the US banking system. This means that Republic First probably won’t be the only failure, unless the Fed steps in with its magical fairy dust again.

Also bear in mind that losses from their US Treasury portfolios aren’t the only problem in the banking system; for example, plenty of banks are sitting on huge potential losses from loans they made on office properties.

I don’t think the scope of this problem is anywhere near the 2008 financial crisis, which brought down some of the world’s largest banks. Not even close.

But the reality is that there are still a lot of banks with a lot of unrealized losses. And the biggest one of all happens to be the Federal Reserve.

According to its own financial statements, just released last month, the Fed’s total unrealized losses are almost $1 TRILLION — $948.4 BILLION to be more precise. And the vast majority of those unrealized losses come from US Treasuries.

So just like Silicon Valley Bank, Signature, First Republic, and now Republic First, the Federal Reserve has rendered itself completely insolvent.

In fact, total Federal Reserve capital is just $51 billion... versus $948 billion in losses. This means the Fed is insolvent 19 times over.

Think about that: the largest, most important central bank in the world... the steward of the global reserve currency... is completely insolvent on a mark-to-market basis.

You’d think that would be front page news. But no one ever talks about it. No one even wants to talk about it.

Of course plenty of people will insist that it doesn’t matter, just like they insist that the national debt doesn’t matter.

But this is yet more absurd fantasy; just look at the facts:

The FDIC’s published reports show more than $500 billion in unrealized losses in the US banking sector.

The Federal Reserve, which in theory would bail out the banking sector, is itself insolvent by $900 billion.

The US government, which would bail out the Fed, is insolvent by more than $50 trillion.

It’s just debt on top of debt on top of debt. Losses on top of losses on top of losses.

Just like the BTFP, everyone wants to play a giant game of ‘make believe’ and pretend that the Fed’s solvency is not a problem, that the US government’s enormous debt is not a problem.

On the contrary, they’re huge challenges. And the ultimate consequence is going to be the loss of the US dollar as the global reserve currency.

To your freedom,  James Hickman  Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/the-feds-game-of-make-believe-comes-to-an-end-150768/

Economist’s “News and Views” Monday 4-29-2024

New Gold Standard Actually Seems Like A Possibility Today—Here's Why

Forbes Breaking News:  4-29-2024

Steve Forbes explains how a new gold standard may be taking hold across the globe, and why this is a very, very good thing for the economy.

https://www.youtube.com/watch?v=Xk76sYNQPnk

Why EU is Dying? BRICS on the rise

Fastepo:  4-29-2024

French President Emmanuel Macron has identified several major challenges facing the European Union that highlight the need for substantial reform and strategic redirection.

 Macron points out the EU's over-reliance on external powers such as the US for defense, Russia for energy, and China for industrial production as a significant vulnerability that limits the EU's autonomy and undermines its sovereignty.

This dependence is particularly concerning given the ongoing war in Ukraine, which not only presents immediate security risks but also destabilizes the continent, emphasizing the need for the EU to develop an independent defense posture.

 Additionally, internal vulnerabilities within the EU itself, such as systemic weaknesses and a slow pace of change are on the rise. In light of these challenges, Macron advocates for the EU to expand its strategic influence in global affairs by fostering a global engagement strategy.

This would involve expanding relations with emerging economies and diversifying its diplomatic and economic partnerships to ensure a more balanced global presence.

Additionally, there is a strong push within the EU to enhance its military capabilities to operate independently of NATO and the US. This includes the development of a collective missile defense system to bolster its security autonomy.

However, Macron's vision for strategic autonomy has provoked a spectrum of reactions across Europe. While some member states, particularly those in Eastern Europe, express apprehension about distancing from the US, others are in favor of advancing towards greater self-reliance.

 Lastly, to become a more balanced global actor, the EU is urged to strengthen its technological and industrial base. This involves reducing reliance on non-EU countries for critical resources and technologies, thereby enhancing its capacity to act independently on the global stage.

These initiatives reflect Macron's broader agenda to rejuvenate the European project and secure its sovereignty and influence in an increasingly multipolar world.

https://www.youtube.com/watch?v=8iDRTk7vsGE

Fed. Chair Powell WARNS "There WILL BE MORE BANK FAILURES." And THE PUBLIC WILL PAY!

Greg Mannarino:  4-29-2024

https://www.youtube.com/watch?v=nkrD8TNRUEs

Goldilocks' Comments and Global Economic News Monday Evening 4-29-24

Goldilocks' Comments and Global Economic News Monday Evening 4-29-24

Good Evening Dinar Recaps,

How EU’s ‘complete mess’ on stablecoin regulation risks delistings with MiCA deadline approaching

"Experts worry that the regulations are so onerous and confusing that they will drive out some stablecoins starting on June 30 when the laws kick in."

On June 30th, 2024, Stablecoins and Cryptocurrency Regulations will become law. At that time, we will have a digital economy capable of running the banking system and the markets.

This is when we are going to see utility drive the new digital market in these new digital assets. It will move the prices of these assets into real values.

Market values will move to fundamental correlations based upon supply and demand bringing in new prices on every sector of the market. This includes the Forex Market where Stablecoins will represent them.

At that time, credit valuation adjustments will begin the process of floating values up or resetting their values entirely.   | CoinStats

© Goldilocks
~~~~~~~~~

"A Treasury buyback is a purchase of United States Treasury debt by the Treasury and subsequent cancellation of that debt."

My understanding is that the United States is buying back its own debt from bonds that have been on the books for a long time. It could move to some of the short-term debts if needed.

These Treasury Bonds can provide liquidity due to the fact they are bought and sold in a pre-sale event of their maturity date canceling that debt instrument and providing liquidity for the markets.

This move will help manage debt objectives by holding the US dollar at a stable rate to prevent trade deficits taking place with the exchange rate of the dollar among other countries.

This is a form of currency intervention for the US dollar to keep it at a stable foreign exchange rate. This is happening because many countries are beginning to sell their dollars for their own currencies, but this is a temporary fix.

The inevitable is happening my friends, and moves like this give us an idea that a Level Playing Field in currency markets are growing close to a Global Currency Reset.  Morning Star   TreasuryDirect

Watch the water.

© Goldilocks

~~~~~~~~~

"Zimbabwe bid farewell to its old Zimbabwean dollar notes on Friday, marking the transition to the new gold-backed Zimbabwe Gold (ZiG) currency."

This is the first day that Zimbabwe is using their new gold-backed currency. This will shift their monetary policies.

No references have been made that they are backing their bonds by gold at this time. More on this at the end of the article...

Their trading mechanisms will shift into free trade agreements between countries. Supply and demand trades will do away with tariffs and put the countries they trade with on a Level Playing Field.

Using gold as a means of exchange for equal value trades, rather than, uneven weighted values through tariffs will make their trading partnerships far more appealing going forward.

Special note: All we have been told is that their currencies are being backed by gold, but we have heard nothing about gold backing their bonds or historical bonds yet.  ReportFocusNews  C Bonds

Watch the water.

© Goldilocks

~~~~~~~~~

BRICS Eye Stablecoin Launch To Reduce The Influence Of The US Dollar — Will Ripple's XRP Be Utilized? ⋆ ZyCrypto

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De-dollarisation gains traction among Brics | Khaleej Times

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BRICS makes headlines with new expansions – Here’s where and who |  Cryptopolitan

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Austin, Texas-based start-up Episode Six is banking on Hong Kong demand for virtual payments, SME lending | SCMP

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International Trade Announcement:

"The International Chamber of Commerce’s Digital Standards Initiative (DSI) has completed the mammoth task of attempting to find common digital data standards for a raft of widely used trade documents."

The Digital Standards Initiative (DSI) is the International Governance Board that is currently setting standards for international trading relationships around the world.

They are telling us they have completed this all-encompassing set of Global Standards. This will be applied to their new digital bills of lading that will determine new price correlations on cargo ships moving products around the world.

These new price correlations will be tokenized assets that hold a weight of gold in their determining price for movement.

Credit Valuation Adjustments are now becoming possible in 80% of our trades around the world that determines, through supply and demand, new exchange rates that will be forthcoming. GT Review   Investopedia    PackageX

WATCH THE WATER.

© Goldilocks
~~~~~~~~~

The Iraqi Dinar | Youtube

👆  Goldilocks pointed to this article

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Printing error makes $1 banknotes worth $150,000 each — check yours | The News

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Here’s How EU Nations Are Preparing to Enforce MiCA | Coin Desk

European Union member states are gearing up to enforce MiCA, the landmark crypto law that requires national regulators to license and supervise service providers.

MiCA is an EU-level regulation but nations can implement slightly different technical standards, which crypto firms should follow closely, policy watchers say.

~~~~~~~~~

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More News, Rumors and Opinions Monday Afternoon 4-29-2024

KTFA:

DeepWoodz:  On June 12, 2023, the GOI passed what they call the tri-partite budget(THREE YEARS). So the operational side has been done since then with no need for any votes by parliament. According to their constitution, Article 62 states the only control parliament has. 

”Second The Council of Representatives may conduct transfers between the sections and chapters of the general budget and reduce the total of its sums, and it may SUGGEST to the Council of Ministers that they increase the total expenses, when necessary.”

Which is really no control at all. 

We used to get articles all the time about the need to pay salaries. I haven’t seen these much lately, if at all. Something else missing has been the START of new contracts and their costs. Although, we know they have projects going on, but still some info is missing.

DeepWoodz cont…..With the added 400 billion in new agreements Sudani spoke of. That’s billion dollars too by the way. Convert that to dinar if you like and see if you think Iraq has ever had that many dinar printed. 

Then we have the HCL rights which are defined in the constitution as well, but still nothing on paper. 

Obviously Sudani’s government is keeping a secret. I wonder what that could be?

Wouldn’t these three items be dependent on a NEW value to their currency? I have no doubt. 

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Clare:  Parliamentary Finance: The positive results of Sudanese’s visit to Washington will appear soon - Urgent

4/29/2024 Baghdad

The Parliamentary Finance Committee confirmed today, Monday (April 29, 2024), that the positive results of the Prime Minister’s visit to Washington will appear soon.

Committee member Moeen Al-Kazemi told “Baghdad Today” that “the visit of Prime Minister Muhammad Shia Al-Sudani to the United States of America achieved great and important success at the level of various economic and investment files, and these results will soon appear on the ground, especially with regard to the strength of the Iraqi economy.” And the dollar file and its complete control.”

Al-Kadhimi stated, “The government has made great progress in controlling the dollar and preventing any manipulation of the currency in the local market by some merchants and others. This is why we see a noticeable decline in the exchange rate in the parallel market, and the coming days will see a greater decline, as well as the implementation of the economic agreements with Washington.” "It takes time."

The dollar exchange rates are still high and declining from time to time, while observers expect Iraq to witness greater development in the economic sector in various related fields, in addition to the energy sector, with the Sudanese visit focusing on creating a shift in the relationship between the two countries and not being limited to the security aspect.

Especially with the Sudanese signing 18 memorandums of understanding during his visit to Washington 10 days ago.   LINK

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Nader From The Mid East   People calling me since last Thursday asking me, 'We hearing the exchange rate will change on Monday?'  ...I didn't see anything about Monday.  I see really good news.  I believe with all this going on they should go for it.  I think they're ready.  I don't know when or why not.  Some people saying Monday...before the end of the month...May... July.  It's all prediction.  I wish it could happen now.  Today...Let's watch it...

Frank26   WEF [World Economic Forum]...no doubt this is good.  World exposure, this is good...They're being invited to the big boy corrupt party because they have a big boy exchange rate.  That's the important thing.

Mnt Goat  The Minister of Commerce and Chairman of the National Committee concerned with Iraq’s accession to the World Trade Organization, Atheer Daoud Salman Al-Ghurairi...Article quote:  "...the completion of the files for the initial offer of goods and services within the files for joining the organization”.   No, they did not yet announce Iraq’s full
accession to the WTO but this is certainly getting close...I assume sometime soon, the National Committee will hold its third meeting with Iraq on the accession review...  With the US now backing Iraq this should move along quickly now.

Economic Shock: Bombshell GDP Drop, IMF Slams Congress Spending, Republic Bank Collapses

Sean Foo:  4-28-2024

Despite huge deficit spending, US GDP has fallen down to 1.6 percent in Q1. This should be alarming as the endless borrowing can't seem to prop up the US economy.

The IMF is scolding the US Congress for their spendthrift ways, highlighting how this is putting the global economy at big risk.

Meanwhile, Republic First Bank has collapsed in the US, signalling a resurgence in bank failures thanks to higher interest rates.

 Here's what you must know!

Timestamps & Chapters:

0:00 US Inflation Crisis Not Over

2:56 US GDP Falls Hard

6:29 IMF Slams Congress To Stop Spending

9:47 New Bank Failure Erupts

12:42 Stagflation Future

https://www.youtube.com/watch?v=l90_P3VS2JA

“Tidbits From TNT” Monday 4-29-2024

TNT:

Tishwash:  The Central Bank sponsors the launch of the activities of the Arab Financial Inclusion Week in Iraq

The activities of the Arab Financial Inclusion Week were launched in Iraq, from April 27 to May 2, in cooperation with the Association of Private Banks, under the slogan “Encouraging savings to enhance financial inclusion.”

The activities of the Arab Financial Inclusion Week, which include various governorates, aim to spread banking awareness, protect the public, and provide the best banking services to the public.

It is noteworthy that the activities of the Financial Inclusion Week reflect the continuing efforts of the Central Bank of Iraq to enhance financial inclusion in Iraq.

Central Bank of Iraq
Information Office
29 - April – 2024  link

CandyKisses:  It was a source of fear and terror. Iraq today is a destination for tourists

Information/Report

When Iraq is mentioned almost ten years ago, the manifestations of fear, terror, murder and bombings are criticized in the world mentality, due to the American-Zionist terrorism that gathered all the terrorists of the world and brought them into the country to eliminate it . 

But after the elimination of the terrorist organization ISIS, at the hands of the heroes of the valiant resistance, the Popular Mobilization Forces and the Iraqi security forces, Iraq has today become a destination for the whole world

And from different segments, whether politicians, Artists, athletes or tourists, singing about its beauty, nature and archaeological sites that take them to the stories of One Thousand and One Nights, Sinbad, Shanashil and the purity of the Tigris and the Euphrates.

What strengthened this matter, Iraq became a center for the establishment of a range of international, Asian and Arab activities, including sports tournaments as well as conferences in various sectors such as art, culture, economy and others, the latest of which was the Arab Labor Conference held yesterday

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Tishwash:  Sudanese opens Iraq's doors to major international companies

Prime Minister Muhammad Shiaa Al-Sudani expressed Iraq’s aspiration to cooperate with major international companies in the field of technology and information technology to move to the digital economy and improve the direction of investments. He also expressed the Iraqi government’s desire to cooperate with technology companies and benefit from them in developing the agricultural sector. In Iraq, indicating that agriculture is a priority in the government program.

This came during Al-Sudani’s reception, yesterday, Sunday, of a group of heads of major international companies in the Saudi capital, Riyadh, on the sidelines of his participation in the World Economic Forum.
In the Saudi capital, Riyadh, the Prime Minister met with the Crown Prince of the Kingdom of Saudi Arabia, His Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud.

During the meeting, they discussed bilateral relations between the two countries, the importance of consolidating them, and reviewed the files of joint cooperation and its growth within the work of the Iraqi-Saudi Coordination Council, which resulted in several understandings in various fields.

Al-Sudani expressed Iraq's aspiration for broader economic cooperation with the Kingdom, which contributes to enhancing growth and provides new opportunities in various economic fields, which reflects the interests of the two brotherly countries and the prosperity of their people.

For his part, the Saudi Crown Prince welcomed the Prime Minister and expressed his thanks for accepting the invitation and participating in the World Economic Forum, stressing Saudi Arabia’s keenness to achieve the best relations with Iraq and raise the level of mutual cooperation between the two neighboring countries.

The meeting touched on the situation in Gaza, and the killing and starvation that the Palestinian people are witnessing at the hands of the occupation forces, and stressed the need to make great efforts to stop the war, the effects of which were reflected in regional and international stability.

Prime Minister Muhammad Shiaa Al-Sudani also met, in the Saudi capital, Riyadh, with the Emir of the State of Kuwait, Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah.

During the meeting, bilateral relations between the two countries were discussed, and ways to develop and advance them, for the benefit of the two brotherly peoples, by investing in the historical and social neighborhood that links Iraq and Kuwait, and emphasizing the importance of maintaining good-neighborly relations and mutual respect.

The meeting discussed the latest developments in the region, especially what is happening in the Gaza Strip in terms of the ongoing Zionist aggression that has caused thousands of martyrs and wounded, and the importance of taking a unified Arab position in order to end the tragedies of the Palestinian people.

Al-Sudani also received, at his residence in the Saudi capital, Riyadh, the regional president of the technology company. German SAP Emmanuel Raptopoulos and his accompanying delegation, on the sidelines of his participation in the World Economic Forum.
The meeting witnessed a discussion of ways of cooperation with SAP, which reviewed its experiences in various parts of the world, as it is considered the largest in the world in the field of developing large programs that combine visions.

Al-Sudani stressed the possibility of cooperating with the company through a joint work program, which includes benefiting from its services in digitizing the economy, which will help achieve innovation and improve the direction of investments, indicating the government’s aspiration to also benefit from its services by including this type of software in Curricula of specialized colleges, and in the field of training in the field of institutional software.

For his part, Raptopoulos expressed the company's readiness to cooperate with the Iraqi government in the technological fields, which helps it implement its vision and plans towards an economy that keeps pace with technological developments in the world.   link

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Tishwash: Parliamentary Integrity: Iraq can track money laundering crimes even abroad

The Parliamentary Integrity Committee confirmed today, Sunday (April 28, 2024), that Iraq can track money laundering crimes, through its supervisory bodies, even outside the country.

Committee member Duraid Jamil Ishou told “Baghdad Today” that “Iraq, through its competent oversight bodies in the Integrity Commission as well as its competent security agencies from the Intelligence Service and others, can track all money laundering crimes,” noting that “Iraq has achieved success in this file during the last period".

Ishua stated, “Some of the movements of these agencies in this file are secret to ensure the success of the tracking operations, and there is coordination with the country in which this money is moved, in addition to tracking the fleeing corrupt people in coordination and cooperation with the international police,” noting that “Iraq’s foreign relations are good with all countries.” This contributed to achieving success in pursuing the fleeing corrupt people and recovering Iraq’s smuggled money.”

The Integrity Commission had announced that international arrest warrants had reached 19, and the number of requests for legal assistance related to seizing smuggled funds outside Iraq had reached 17 requests, while smuggled funds and their financial transfers amounting to 400,000 US dollars, 22 real estate, 8 shares in companies, 9 bank accounts, and one wheel were followed.

 While the value of corruption funds smuggled outside Iraq amounted to 1,400,500 US dollars, and 10 real estate properties in one investigative case, according to the Integrity Report for 2023 activities.  link

Mot:  finally Broke Down and Got meself an Emotional Support Critter!!!

Mot: Grrrrr -- Fur the Lastest Time! -- NOT Fur Sail!! -- Gunna Fix it up You see