“Tidbits From TNT” Sunday 5-26-2024

TNT:

Tishwash:  Al-Haims announces joint cooperation to list government bonds on the Iraq Stock Exchange

Today, Sunday, Chairman of the Securities Commission, Faisal Al-Haims, announced joint cooperation with the Central Bank and the Ministry of Finance to list government bonds on the Iraq Stock Exchange.

Al-Haimas told the Iraqi News Agency (INA): “The authority is independent and affiliated with the Council of Ministers. Its work is to monitor the trading of bank shares to complete their requirements and list them in the Iraq Stock Exchange, by submitting financial statements according to the required timelines.”

He pointed out, "There has been great cooperation during the recent period with the Central Bank and the Ministry of Finance to list government bonds in the Iraq Stock Exchange  link

CandyKisses:  Parliamentary Finance hosts Finance and Planning Ministers to discuss budget

Information / Baghdad.. 

Member of the Parliamentary Finance Committee, Jamal Cougar, confirmed today, Sunday, that the committee will soon begin discussing the budget schedules with the Ministers of Finance and Planning, while noting that voting on the schedules will take place after preparing the final report on them.

Koger told Al-Maalouma, "The Parliamentary Finance Committee is preparing to host the Ministers of Finance and Planning to discuss the 2024 budget schedules before voting on them."

He added, "The advisors in the Parliamentary Finance Committee will present a detailed report on the differences between the 2023 budget schedules and the 2024 budget, and we will have two sessions in which the Ministers of Finance and Planning will be hosted." 

He pointed out that "the Finance Committee will study the schedules in detail and then prepare a comprehensive report to be presented in a general parliamentary session to approve the schedules." 

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TishWash:   Why Iraq wants the UN's political mission to wind down

Analysis: The call to wrap up the UN Assistance Mission for Iraq is part of Baghdad's efforts to change the country's international image.

Iraq increasingly wants to forge a new path that emphasises it is a normal member of the international community and can stand on its own feet. This requires that it shed the institutional hallmarks of the post-2003 period.

As part of that, Baghdad wants to end the mandate of the UN Assistance Mission for Iraq (UNAMI), which has provided the country with political, electoral, and development support for the last two decades.

In a letter to UN Secretary-General António Guterres dated April, but made public on 12 May, Iraqi Prime Minister Mohammed Shia al-Sudani noted UNAMI’s positive contributions, but asserted that “after [twenty] years of democratic transition and overcoming great and varied challenges, the grounds for having a political mission in Iraq are no longer available”.

The letter said that Iraq is calling to “permanently” end UNAMI’s mandate on 31 December 2025, adding that the mission’s efforts should be “limited to completing its work (only) on the files of economic reform, service provision, sustainable development, climate change, and other development sectors” from now on.

What this leaves out is UNAMI’s critical political functions. The mission provides what is known in international relations as “good offices,” where a third country or a neutral institution offers a platform for bringing parties together to resolve disagreements.

UNAMI does this in a variety of ways, including helping to broker deals between Baghdad and Erbil, offering mediation between Kurdish parties, and facilitating dispute resolution between Iraq and neighbouring countries, most notably Kuwait.

The mission’s political mandate also includes a requirement that it report to the Security Council about developments in Iraq. The most recent such briefing took place on 16 May.

In light of Iraq’s demands, the question arises: what is the point of a political mission like UNAMI if it is unable to carry out a political role?

"Baghdad wants to show that this is not the same Iraq that had a civil war, insurgencies, or all of these sort of conflicts that have represented the country for the last few years"

Changing Iraq's image

The call to wrap up UNAMI’s mission is part of a larger effort by Baghdad to change Iraq’s image and steer it into an era focused on ordinary, bilateral relations with other countries and international institutions.

Renad Mansour, director of the Iraq Initiative at Chatham House, told The New Arab that “the veneer of sovereignty” is important to the government of Iraqi Prime Minister Mohammed Shia al-Sudani.

Mansour said that Baghdad wants to show that “this is not the same Iraq that had a civil war, insurgencies, or all of these sort of conflicts that have represented the country for the last few years, but that this is a new chapter”.

This is also why Sudani’s government hopes to renegotiate the presence of international troops that are in Iraq as part of the anti-Islamic State (IS) coalition.

In March, the results of the strategic review were released. Although it largely praised UNAMI’s work, it advised that the mission’s current mandate, including its political role, be extended for just two years before being concluded on 31 May 2026.

Sudani’s April letter was a response to the strategic review’s activities and conclusions. It objected to the fact that Perthes met with officials and figures outside of the Government of Iraq, including party officials, members of the Kurdistan Regional Government (KRG), and civil society, and demanded a shorter timeline for closing down UNAMI and that its activities be restricted to non-political functions.

Mansour noted that there is a “big debate about UNAMI’s role” and that not everyone agrees with the government in Baghdad that the mission’s political activities are no longer needed.

Baghdad’s desire “to end the mission like this was a bit unexpected, because it basically killed everything,” a Kurdish foreign policy official speaking on background told The New Arab, saying that they had anticipated that the mission would conclude eventually.

“UNAMI’s good offices were always very helpful in facilitating dialogue,” they said. “Losing that channel, it's not helpful, to say the least.”

The end of UNAMI’s mandate will not mean that Iraq completely ends UN activities in the country.

As the April letter noted, Baghdad wants “to raise the level of cooperation with the United Nations and its specialised agencies,” including UNDP specifically, to “overcome economic, climate, and environmental challenges that face Iraq and the region”.

"This is a symbolic effort from the government to present the country as a sovereign state that does not need a UN mission, that it does not need the UN Security Council having a briefing every quarter"

Therefore, it is clear that the purpose of ending UNAMI’s mandate is largely for political reasons, rather than practical ones.

“This is a symbolic effort from the government to present the country as a sovereign state that does not need a UN mission, that it does not need the UN Security Council having a briefing every quarter,” Mansour said.

Some members of the international community have expressed trepidation about ending the mission, albeit in diplomatic language.

“The US has strongly supported the mission’s work,” Vedant Patel, a State Department spokesperson, told a press conference on 13 May. “We are working with the Government of Iraq and fellow Security Council members to ensure an orderly and responsible wind-down that meets…the needs of the Iraqi people.”

The US is a particularly important actor because it is the penholder for Iraq issues on the Security Council, which means that it leads negotiations and drafting resolutions. This will be important in the coming weeks.

Next steps

There are several possible scenarios in terms of how the mandate renewal process could play out in New York when the Security Council meets to discuss the issue at the end of May. Ultimately, the mission’s fate is dependent on these negotiations.

The Security Council could accept Iraq’s demands as expressed in Sudani’s letter and issue a mandate that ends on 31 December 2025 and does not include authorisation for continuing UNAMI’s political role.

Alternatively, it could establish a new mandate negotiated with Iraq that outlines a new set of core functions. It could also temporarily roll over the current mandate for a period of three or six months to give itself time to decide what to do next.

Less likely scenarios include the Security Council rejecting Iraq’s demands outright and continuing the mandate as it stands. At the Security Council briefing on 17 May, however, most country representatives recognised that UNAMI’s presence should end, even those who expressed support for its work.

“Now is the time to transition to a new partnership between Iraq and the United Nations,” the UK’s representative said, while Switzerland emphasised that the transition be “responsible, orderly, and gradual”.

However, others strongly backed Iraq’s demands. For example, Russia’s representative told the meeting that Iraq’s continuing challenges “should not be used as an excuse for the Mission’s endless presence there”.

Baghdad could also change its mind and request the current mandate remain in place. This situation occurred earlier this month when Somalia appeared to step back from a demand to quickly terminate the UNSOM mission. However, this would cut across Iraq’s apparent motivations and is a far-fetched scenario.

Twenty-one years after the removal of Saddam Hussein and a decade on from the IS emergency, Iraq is not without major challenges. It is clear, however, that the UN’s political role in helping Iraq navigate those treacherous waters will soon end.

Only time will tell whether this will leave the country without a useful tool for ensuring stability and progress.

Winthrop Rodgers is a journalist and analyst based in Sulaymaniyah in Iraq's Kurdistan Region. He focuses on politics, human rights, and political economy.  link

Mot: . Have a Great~~~~

Mot: .... Monday will Be ~~~~~

News, Rumors and Opinions Sunday AM 5-26-2024

KTFA:

Frank26:  "ALL THE PARTS OF THE MONETARY REFORM ARE SNAPPING TOGETHER IN ITS SECOND PHASE".............F26

Iraqi fintech ZainCash goes live with Temenos

Robert Prendergastb  Thu, May 23, 2024

Temenos has announced that ZainCash, a payment service provider in Iraq, has gone live with Temenos core banking and payments to power the growth of its digital payment services.

The successful implementation aligns with the strategic goals of the Iraqi government and the central bank to boost financial inclusion and expedite the digital transformation of the national economy. It positions ZainCash to expand its operations more effectively, elevate the customer experience, and swiftly introduce new products.

ZainCash has rapidly expanded, achieving over 1.2 million app downloads. ZainCash enables users to make quick and easy local and international transfers, pay local merchants and government services, manage funds with a convenient multicurrency card (physical or virtual), as well as enjoy a variety of bonus features like digital vouchers.

ZainCash’s network of 10,000 agents ensures these financial services are available everywhere in Iraq

With Temenos, ZainCash has brought together its core banking and payments capabilities on Temenos’ flexible, composable banking platform, which enables easy integration with existing internal systems, as well as with the Central Bank of Iraq. The robust, agile platform will enable the company to scale quickly to meet growing consumer demand as it seeks to reach 3 million users by the end of the year.

ZainCash will use Temenos’ modern technology architecture with open APIs, to quickly launch a range of new services, including instant lending, and provide customised products for specific groups, such as families and students. It will also offer a digital and seamless onboarding process resulting in an improved user experience.

The Temenos platform will help ZainCash to continue widening financial inclusion by extending convenient digital financial services to more communities, including Iraq’s large unbanked population.

Yazen Altimimi, CEO, ZainCash, commented: “Temenos’ open and agile banking platform allows us to innovate and scale at speed, delivering a world-class payment experience that meets our customers’ growing needs and expectations. With Temenos, we can more easily expand our product range and provide more personalized services as we continue to lead the way in making payments safer, simpler and more convenient for all Iraqis.”

"Iraqi fintech ZainCash goes live with Temenos" was originally created and published by Electronic Payments International, a GlobalData owned brand.   LINK

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Frank26:  "NOT AT A PROGRAM RATE TOOPIT!!!"............F26

Al-Sudani: We have financed 10 projects in Najaf Al-Ashraf with a value of 555 billion dinars LINK

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Frank26:  "BEFORE THE 9TH!!!".............F26

A Sudanese advisor expects Parliament to approve the budget schedules before Eid... and warns against delay

5/23/2024

Mazhar Muhammad Saleh, financial advisor to Prime Minister Muhammad Shiaa al-Sudani, expects the House of Representatives to approve the financial budget schedules for 2024 before the Eid al-Adha holiday, which falls in the middle of next June.

Saleh told {Al-Furat News} agency, “It is noted that the level of coordination and harmony between the legislative and executive authorities will accelerate the House of Representatives’ approval of the financial schedules for the year 2024, in implementation of the provisions of Article 77/second of the Federal General Budget Law (Tripartite) No. 13 of 2023.”

He added, "What we expect is that the House of Representatives will approve the aforementioned financial schedules before the Eid Al-Adha holiday at the latest, and according to what some members of the House of Representatives noted."

Saleh noted that "the delay affects the movement of investment spending for new projects that the government planned to promote and in accordance with its ministerial program to serve the achievement of the goals of sustainable economic development in our country."

The Council of Ministers approved, in an extraordinary session last Sunday, the 2024 budget schedules, while the House of Representatives secretariat announced yesterday that it had received the schedules.

The Parliamentary Finance Committee began discussing the budget schedules, with expectations that it will be voted on before June 9.

A member of the Parliamentary Finance Committee, Alaa Al-Haidari, stated in a press statement that “Parliament has the powers to pressure spending and transfer funds, and this is linked to opinions regarding the schedules of service allocations to the governorates,” indicating that “the Council extended its legislative recess while awaiting the budget schedules, and the remaining time period of the month that Parliament extended.” Sufficient, and we expect that the budget will be voted on before the ninth of next June.”

The head of the Finance Committee, Atwan Al-Atwani, explained in a press statement that the committee “held continuous meetings to discuss the 2024 budget schedules and study financial policy,” explaining that it “will host the Ministers of Finance and Planning to discuss current and investment expenditures and budget paragraphs related to securing the necessary needs of the citizen, contracts, and appointments.” .

Raghad Dahham    LINK

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

RayRen98   [via Babysmom]  "US BANK STAFFERS HAVE RECEIVED MEMOS INDICATING TO BE PREPARED AN INFLUX OF CUSTOMERS HAPPENING SOON"

MarkZ  [via PDK]   I am seeing rates of somewhere between $3.81 to $3.91 from a number of contractors working in Iraq. They are working on infrastructure - everything from hospitals to power grid to roads etc... And I am still thinking it will be $2 something on the dong. I hope I’m wrong and my contacts are right and it’s closer to the $3 mark.

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BRICS NEWS: New Central Bank, Currency Update, Dedollarization and Focus on Africa

Lena Petrova:  5-25-2024

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

Goldilocks' Comments and Global Economic News Saturday Evening 5-25-24

Goldilocks' Comments and Global Economic News Saturday Evening 5-25-24

Good Evening Dinar Recaps,

HKMA is making changes to their USD liquidity facility.

"A liquidity facility is a committed, undrawn backup facility that can be used to refinance a customer's debt obligations if they are unable to roll it over in financial markets."

HKMA is moving their money settlement process from T+1 to T+0. The Hong Kong Monetary Authority is making this policy change to give them instant access to money flows.

Hong Kong has been in pilot programs in the new digital economy that enables them to process their digital money instantly.

This will give them a trading advantage that many countries will want to catch up to going forward. This is why I told you a while back that the movement from T+1 settlements at the end of this month would not last long.

It looks like the new digital asset-based trading system has now become a driver for the rest of the global economy to interface new electronic settlement protocols just to keep pace.

The new digital payment system has now become a competitive edge for countries who are further along in the new QFS.   HKMA   ADGM

© Goldilocks

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HKMA Announcement:

"HKMA Updates Social Performance Module (SPM) to Drive Banking Sector Upskilling"

We have recently been talking about many banks going through logistics training and especially in their foreign currency exchange departments.

Here, we have a report that Hong Kong is Upskilling their banking practitioners.

Part of the reskilling of their banking employees deals with The Exchange Stabilization Fund. The ESF deals with three types of assets:
* The US Dollar
* Foreign Currencies
* Special Drawing Rights

The SDR  is an international reserve asset. It is created by the International Monetary Fund. This particular asset class is a transitional currency. It will help stabilize and redistribute monetary volumes and access expansion to various currencies to aid in the process of moving from a World Reserve Asset to a local currency regimen backed by gold.

This process will begin to create price pressures on global currencies. Credit valuation adjustments will be a part of this process.

As of August 2023, the SDR basket of currencies consists of the following percentages:
* US dollar: 43.38
* Euro: 29.31
* Chinese yuan: 12.28
* Japanese yen: 7.59
* British pound sterling: 7.44

These percentages will shift during the transition as new alliances have been formed the last few years through new trading partners. Don't be surprised if we do not see a digital currency added to this list.

Hong Kong is an open market economy driven by supply and demand. Currently, the United States dollar is their main asset to drive their Market, but a shift change to a gold backed regimen will immediately change everything for Hong Kong and those who trade with them which is many countries.

Hong Kong has been through several digital pilot programs and completed many of their projects. They are well equipped for the new shift in our economy.

China is currently driving the gold market to new highs along with new BRICS Nations. These changes will come at a heavy price on the US Dollars' performance.

We are in a transition that has taken a lot of time, but the shifts to the global economy are beginning to take a different shape.  Investopedia   HKMA   Linkedin   Home  Treasury.  RegulationAsia

Gold will set us free.

© Goldilocks

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Hong Kong | Imports and Exports | World | ALL COMMODITIES | Value (US$) and Value Growth, | Trend Economy

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UK Approves First Physically Backed Bitcoin and Ethereum ETPs for Listing on London Stock Exchange – Bitcoin News

UK Approves First Physically Backed Bitcoin and Ethereum ETPs for Listing on London Stock Exchange. At this time, these Exchange Traded Products will only be available for professional traders.

Its 100% physically backed Bitcoin and Ethereum ETPs, Wisdomtree Physical Bitcoin and WisdomTree Physical Ethereum will be listed on the LSE at the earliest date possible which is expected to be on Tuesday, May 28th.

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Swap Connect: new tools, enhanced products and more solutions | HKEX Group

👆 Hong Kong is ready to transition folks.

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RIPPLE XRP HOLDERS THIS IS HOW XRP BECOMES BIGGER THAN BITCOIN | Youtube

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UBS distributes first fund issued on iCapital's DLT infrastructure - Ledger Insights 

iCapital, the marketplace for alternative investment funds, has launched its distributed ledger technology (DLT) solution. The first fund issued using the technology is being distributed by UBS Wealth Management and administered by Gen II, although it did not disclose the asset manager.

https://www.ledgerinsights.com/ubs-distributes-first-fund-issued-on-icapitals-dlt-infrastructure/

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Hong Kong is one of the few open market economies that we have. Vietnam is about to become one in July.

There will be many more, and the changes in currency rates will be determined by these changes.

© Goldilocks

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This is CRITICAL | Youtube

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Join the Seeds of Wisdom Team SNL call with Freedom Fighter breaking down Goldilock's weekly posts!  Jester will be joining too!   SNL Call Link

9 pm EDT / 8 pm CDT / 6 pm PDT

The SNL Q & A room will be open at 8 pm ET, 7 pm CT, and 5 pm PT to ask questions that will be answered on the call!

The call will be recorded and you can find it in the Archive Call Room after the call is over.

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Thank you Dinar Recaps

More News, Rumors and Opinions Saturday PM 5-25-2024

KTFA:

Clare: Ministry of Planning: More than 41 trillion dinars is the amount of money available to the governorates in 2024

  5/25/2024

Today, Saturday, the Ministry of Planning revealed the total financial allocations and amounts available to the governorates during the current year 2024.

The Ministry explained, in a statement, a copy of which was received by {Al-Furat News}, that: “The allocations of the Regional Development Program and the undisbursed amounts, of which the amount of the remaining funds for the year 2023, registered as deposits with the Ministry of Finance, amounted to (6,947,433) trillion dinars, in addition to the remainder of Food security restricted deposits in the governorates (5,824,403) trillion dinars, totaling (15,875) trillion dinars, and this amount is added to the size of the investment allocations to the governorates within the 2024 budget submitted to the House of Representatives, amounting to (3,103,158), noting that these allocations include a development program Territories, petrodollars, anti-poverty, and loans.

She added, "In addition, what was allocated to the projects of the federal ministries that are implemented in the governorates, excluding the region, amounted to (38,421) trillion dinars, and thus the total amounts available to the governorates reach (41,524) trillion dinars."

The Ministry stressed that, “Based on the above, the comparison that appeared in the media, between the regional development allocations for the governorates, and the total investment spending for the Kurdistan region, is an incorrect comparison. Rather, the comparison should have been made between the total investment spending for the governorates coming from investment spending.” for the ministries, which amounts to (41,524) trillion dinars), and what has been allocated in the total investment spending for the region, which amounts to (4,875) trillion dinars,” stressing “the government’s commitment to the percentage allocated to the region, in all sections of spending.”

She pointed out, “Based on the Tripartite Budget Law (2023-2025) and the Financial Management Law of 2019, unspent amounts are recorded as deposits with the governorates or the Ministry of Finance, and local governments can spend them on projects in accordance with the mechanisms approved in this aspect, and these amounts are added to the allocations.” The financial allocations allocated to the governorates within the 2024 budget,” noting that “there are other amounts that will be allocated to the governorates, coming from the revenues of the border crossings, as most of the governorates enjoy this advantage, with the presence of land, air, or sea ports in them, as well as the financial allocations allocated to the funds in their various specializations, which are Funds for the reconstruction of Dhi Qar and Sinjar, the affected areas, and support for the poorest areas, amounting to about (2) trillion dinars.”

The Ministry added, “The indicators proven during previous years indicate that the highest percentage of spending for the governorates did not exceed more than (4.2) trillion dinars, during the year 2022, as the spending was made according to the actual work peaks with no budget approved in that year, and therefore the presence of... Of this large cash mass, available to the governorates, the spending units will not be able to spend more than 30% of it at best, according to the executive capabilities of the governorates.”

She stated, “The directives of Prime Minister Muhammad Shiaa Al-Sudani were always supportive of the efforts of local governments, enabling them to fulfill their financial obligations, complete their basic projects, and include new projects, noting that the House of Representatives transferred (4.7) trillion dinars in the budget.” Last year, 2023, from the Ministries of Electricity and Oil, to the governorate budgets in Table (E) as additional amounts to what the government allocated at the time, which was (5.2) trillion dinars, which forced the government and Parliament to borrow and set texts to add allocations to cover the transferred amounts, which increased the deficit resulting from this procedure".

The ministers confirmed that “the apparent differences in the allocations to the Kurdistan region include the sovereign investment budget, including licensing rounds for the Kurdistan region, amounting to (2.7) trillion dinars, which will not be spent to stop the export of oil from the region, according to the decision of the Federal Court, and that disbursement to the Kurdistan region is conditional on the export of oil by ( SOMO) and hand over the region’s oil imports to the Ministry of Finance.”   LINK

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Clare: Government breakdown of 2024 budget schedules: Spending will contribute to reducing the deficit

5/25/2024 Baghdad

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Saturday, that the variables of the financial tables conform to the constants of the tripartite budget, while indicating that the spending pattern will contribute to reducing the deficit.

Saleh said, “The announcement of the financial schedule variables for the year 2024 was in accordance with the constants adopted by Law No. 13 of 2023, the Federal (Tripartite) General Budget Law, especially with regard to the hypothetical deficit, which amounts to approximately 64 trillion dinars.”
He explained: “There are important trends in the management of the public budget, whether in addition to public expenditures, as the spending ceiling reached 211 trillion dinars, or revenues and deficits.”

He pointed out that "oil prices are still higher than their estimates in the tripartite budget of $70 per barrel, with a positive change rate of more than 16 percent above the approved price, and we are approaching the middle of the fiscal year while maintaining the export rates approved in the budget and managing oil production efficiently and accurately." “In accordance with international agreements with OPEC regarding control over production quotas.”

He added: "There is high discipline in maximizing non-oil revenues, especially tax and customs revenues, specifically after adopting automation, modern methods and information technology in tax and customs assessment, estimation and collection." 

He pointed to "striving to impose discipline on operational expenditures and keep spending on them within acceptable minimum limits, in addition to ensuring that the efficiency of investment spending and the operation of all approved projects is increased, in order to ensure a high growth rate in the gross domestic product at a rate exceeding twice the rate of population growth, by launching the project movement." New without delay or stop.

He stressed that “the pattern of public spending, in accordance with the schedules announced, is characterized by accuracy, objectivity, and self-savings, which contributes to reducing the resort to financing the actual deficit, even when needed, through internal borrowing and within limits that ultimately do not exceed the accepted international standard percentage for financing the deficit, which amounts to 3 percent.” of the country's total gross domestic product. LINK

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

Frank26  Question: "What is the price of a bottle of Coke in Iraq?"  Way too much and that's why the prices are being adjusted and a new exchange rate will come out to match the new or lower denominations.

PompeyPeter  If for one second the new rate had been shown the Council of Ministers, the parliamentary Finance Committee or the House of Representatives we would have heard them singing and dancing and cheering from Iraq.  We certainly would have seen it from the CBI first.  What happened then?  ...As they've said, the amendments were viewed and passed by the Council of Ministers, the amendments of the 2024 budget were then passed to HOR via the Parliamentary Finance Committee...We definitely know the rate hasn't been exposed.

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The Recent Stock Market Highs Are Really Just LIES...

Lynette Zang:  5-25-2024

Today we is a breakdown from this week's livestream talking about how the stock market highs are meaningless because it's all a giant LIE...

https://www.youtube.com/watch?v=6KcTY8W6MXo

“Tidbits From TNT” Saturday 5-25-2024

TNT:

CandyKisses:  Taif Sami in the House of Representatives next week

Baghdad - Iraq Today:

The Chairman of the Finance Committee, Atwan Al-Atwani, confirmed that the Minister of Finance will host early next week on the 2024 budget tables.

The media office of the Chairman of the Finance Committee quoted in a press statement as saying: "The Minister of Finance will be hosted early next week on the 2024 budget tables."

He added that "the Minister of Finance will discuss the reasons for the increase in operating expenses as well as the financing file."

"We agreed to complete the discussions of the law amending the staff in the next meeting in order to submit it to the House of Representatives for a vote," he said.

CandyKisses:  Ending the UNAMI Mission Marks a Step for Iraq Regaining Full Sovereignty

Farhad Alaaldin-The Iraqi Prime Minister's Advisor for Foreign Affairs

Saturday - 25 May 2024 

In a formal letter, dated 8 May 2024 and addressed to the United Nations Secretary-General, Antonio Guterres, Iraqi Prime Minister Mohammad Shia al-Sudani called for “ending the mandate of the United Nation’s Assistance Mission in Iraq (UNAMI) on 31 December 2025", emphasizing that "after more than 20 years of democratic transition and overcoming great and diverse challenges, the justifications for a political mission in Iraq are no longer present".

This letter was delivered in time, by the Iraqi Charge d'Affaires at the United Nations, before the Security Council (SC)’s scheduled meeting on 30 May 2024, to vote on UNAMI's fate. Iraq is not a member of the Council, however, it will be difficult for the existing SC members to ignore the wishes of an elected Government of Iraq. 

The strategic review

In May 2023, Iraq made a formal request to the SC to reduce the UNAMI mandate. In response, the Council set up a three-man committee, headed by Volker Perthes of Germany, to carry out a “Strategic Review” of UNAMI's mandate, based on the SC resolution 2682 (2023). The committee visited Iraq in Nov 2023 and conducted 250 interviews with various stakeholders, including the Federal Government, the Kurdistan Regional Government, political parties, civil society organizations, think tanks and the UNAMI staff all over Iraq. They also reviewed the papers and work of UNAMI both in Iraq and New York, before submitting their report to the Secretary General in Feb 2024.

The ‘Perthes’ report unequivocally acknowledged the progress made in Iraq, and that: "the Iraqi political system has, at least over the past eighteen months, increasingly demonstrated its ability to manage crises". It further adds "no UN political mission should stay in a country forever. Prolonged third-party presence may discourage local solutions and national ownership". Perthes therefore recommend that “the Mission begin to transfer its functions to national institutions and the United Nations country team in a responsible, orderly and progressive manner within an agreed time frame."

Thus, both the Iraqi Government and Perthes’ Strategic Review agree on ending the mission, with a slight variation in the timing and process, as the Iraqis want to end the mission by Dec 2025 with an immediate winding down and switching the focus away from the political file, to "economic reform, service provision, sustainable development, and climate change”. Perthes’ report, however, recommends ending the mission by June 2026 while keeping the political files with a gradual weaning process.

Iraq facing its own challenges

This year will see the end of three significant missions in Iraq that were all set up under various Security Council Resolutions, namely the UNITAD, the UNAMI and the International Coalition to fight ISIS. As a result, Iraq will be a step closer to taking full responsibility for its destiny as a confident and fully sovereign state. Critics might see the ending of these missions, all in one go, leading to Iraq’s isolation. However, the Iraq of 2024 is not the same Iraq of 2003 when the regime collapsed, or the Iraq of 2014 when ISIS ripped through the country and took over one-third of it. Today’s Iraq is more stable, confident and forward looking.

Iraq is now seeking to confront its own challenges directly, but with international cooperation. Many of the key challenges have persisted for over two decades when the UNAMI was operational in the country. Clearly the issues are complex but experience shows that solutions come primarily from within, as acknowledged and encouraged by the Strategic Review Report. The report emphasized that "ownership of these issues is now in the hands of Iraqi institutions. They have the capability to advocate for peace and stability within the country and with external actors." Indeed, such capability was vividly illustrated in Kirkuk, where the Prime Minister presided over the meetings of the various political parties to hold Kirkuk provincial elections, which have not taken place since 2005. Another example is the border security agreement signed with Iran, and the Strategic Cooperation Agreement signed with Türkiye to deal with the most difficult challenges relating to both Water and Security.

Thank you UNAMI

The Iraqi Government deeply appreciates the UNAMI and other UN agencies' positive roles in Iraq over the past two decades. In a statement issued on May 12, the Iraqi Government expressed "gratitude to UN Secretary-General Mr. Antonio Guterres, the Special Representative of the UN Secretary-General in Iraq, Ms. Jeanine Hennis-Plasschaert, and all UNAMI staff for their support over the past years." Undoubtedly, Ms. Hennis-Plasschaert’s dynamic and energetic engagement and significant contributions to Iraq have been instrumental and widely acknowledged.

However, many critics within Iraq often highlight the failure of UNAMI to execute some of its mandates over the past two decades, despite ample national and international support. Some go as far as accusing the UNAMI of systematically ignoring the shortcomings of Iraq’s political system, the widespread election fraud and human rights abuses that the Iraqi government itself had recognized. It was during the UNAMI’s presence that Al-Qaeda flourished, ISIS invaded the country, violence erupted in the aftermath of the Kurdish Referendum of independence and Iraq suffered the worst political deadlock after the 2021 election which led to the withdrawal of the Sadrist Movement from the political process. Other outstanding processes that fall within the UNAMI’s mandate that remain unaccomplished, include the Kuwaiti’s missing persons and national archives in Iraq, the implementation of the Sinjar agreement and the failure of Kurdistan Region to hold general elections for two years.

That said, the Iraqi Prime Minister firmly believes that these ongoing issues can only be resolved through national efforts, by bringing together Iraq’s political leaders to hammer out practical solutions. This is exactly what recently led to breakthroughs in Baghdad – Erbil cooperation, and the holding of Iraq’s first and most peaceful provincial elections since 2013.

Furthermore, Iraq is going to ask for UN help in some of the files, such as elections, Iraq would seek UN help with a team of experts to provide technical support as they have done in the past, however, such help would be temporary and only for the duration of the election process. Another example would be the continuation of the tri-partite process of the Kuwait file, where the Iraqi government will work diligently to conclude this file with the help of the International Red Cross and technical support of the UN if needed.

The future

PM Al-Sudani has frequently asserted that “the guiding principle” of his foreign policy is "Iraq first", via building strong partnerships based on common interests with friendly countries in the region and beyond. Iraq will work with all its international partners to forge bilateral alliances that help its security and stability, and will open up to business and economic partnerships. Signing the Development Road agreement with Türkiye, Qatar, and the United Arab Emirates is a good example of using economic opportunities as launching pads for future regional cooperation.

The Iraqi government is working hard on addressing the three areas of concern that is highlighted in Perthes’ Strategic Review, where he concludes that “the stability of Iraq today is fundamentally threatened by three phenomena: (a) the fragility of institutions; (b) the proliferation of armed actors; and (c) the potential for the emergence of a new ISIS or other forms of terrorism and violent extremism.”

Significant strides have been achieved in bolstering the institutions, fighting corruption and depoliticizing the institutional leadership positions. On the proliferation of armed actors, the Prime Minister made it clear that “these groups grew out of the complex circumstances that Iraq encountered while confronting terrorism. But little by little, as security and stability are restored, the need for weapons outside the control of the state and its institutions will disappear. We are working concertedly toward that end”. As for terrorism and violent extremism, the Iraqi government believes that ISIS is now defeated and no longer poses a threat to the state of Iraq. Its comeback is rendered even more difficult by the enhanced capability of Iraqi security forces, the new stability that Iraq enjoys, and the economic boom which no part of Iraq is feeling left out.

Iraq is now poised to play the pivotal role it is destined to play in the region, and regaining its sovereignty is the first step. Ending international missions such as UNAMI will strengthen Iraq further by relying on its own institutional capacities to tackle the various challenges it continues to face.

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CandyKisses:  Iraq announces investments amounting to about $1.5 billion

Economy News - Baghdad

Today, Friday, the Iraq Fund for Development outlined three achievements it has achieved since its founding, while announcing investments amounting to about $1.5 billion.

The Executive Director of the Iraq Fund for Development, Advisor to the Prime Minister for Investment Affairs, Muhammad al-Najjar, said, “Since its establishment less than a year ago, the Fund has achieved three achievements, the first of which is: signing 17 memorandums of understanding with 17 different companies (Saudi, British, and American) to enter into... Iraq".

Al-Najjar added, "The value of the total investments achieved by these memorandums approached one and a half billion dollars," pointing out that "these imports for the first time enter Iraq, not in the field of energy, but in the field of industry, agriculture, and gas production, that is, industrial gases."

He pointed out that "the second achievement was the launch of the investment schools project, and applications were submitted to build 2,000 schools through investment, and the state rents them from investors, which saves huge sums of money, since for the price of 100 schools we can build 1,000 schools in a much shorter period of time than was thought." That is, school crises will be resolved as quickly as possible.”

He continued: “As for the third achievement, it represented the launch of social projects for the first time, such as building schools and so on, implemented through the private sector, and for the first time we can attract the private sector to this number and this number of investments related to the state, which is considered a fundamental change that the government and the Fund have succeeded in establishing.” For him, under the government of Prime Minister Muhammad Shia al-Sudani.”

He pointed out that "there is an international desire to enter the fund, but our tendency is for participation to be through companies investing in Iraq, and not directly in the fund, because the fund has the peculiarity of being financed from the general budget and subject to the laws of the Iraqi state."

He stated that "funds and companies often prefer to operate under the laws of the private sector, so we have attracted investments for companies," stressing that "the amount of investments that entered compared to the fund's capital is very large."

He concluded by saying: "We are currently working according to the rule that for every dinar we attract ten dinars, meaning that if a trillion is allocated, we try to set investment rates worth ten trillion dinars in return."

Mot: ..... I Try and ~~~~

Mot: . Already fur da Camping Season I Is!!! 

News, Rumors and Opinions Saturday 5-25-2024

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 Sat. 25 May 2024

Compiled Sat. 25 May 2024 12:01 am EST by Judy Byington

Global Currency Reset: (RUMORS)

On Fri. 24 May TNT sent out a cryptic message that the 800#s were coming out for Tier4b (Us, the Internet Group) to set redemption appointments.

Fri. 24 May MarkZ: “There is high expectation from the individual Bond Holders that they will go over this weekend. From a contractor: In-country Dinar Rate was said to be around $3.99, Dong around $3.”

A Contact at a Redemption Center said Tier4b (Us, the Internet Group) would get emails to set appointments over the weekend.

Thurs. 23 May 2024 Bruce felt it was likely that we won’t get the 800 numbers to make appointments until Tues. 28 May, and could begin exchanging on Wed. 29 May.

Fri. 24 May Wolverine: “From my Brazilian contact: We are waiting for an official order to release funds and payment order. This will happen at any time, please wait…as of today we have nothing official. Things are moving guys. The greatest transfer of wealth has started T1 and T2 have been completed and a very positive Mark Z message today! He’s saying he’s hearing Individual Bond Holders expecting to receive big Payments now! First time I’ve heard him talking about Individuals rather than Groups/ Platforms.”

Thurs. 23 May 2024 Wolverine Here’s a helpful update: My friend has given me permission to share information with you.  Remember, she has a relative who is an MP from a Middle Eastern county and he sits on a committee that oversees the timing of the event.

Anonymous Friend: Ginger, I was just informed (by a relative in the Middle East; Ginger is hiding the location for security) that there are 7,000 payers in Tier 3 who are being paid before Tier 4B distribution goes live. This will happen over the next 10 to 14 days.

However, in the meantime the public will be prepared for many things, such as: gold-backed USN, debt forgiveness, increases in SSI, and other benefits.

Also keep in mind that the absolute back wall is the 4th of July, so a lot has to happen quickly for us to reach our day of redemption.

Tues. 21 May 2024 Unknown Source: “Banks in the USA will close on the 24th and until May 27th (Monday) they will be offline, without credit cards and without access to 24-hour banking. It will be the beginning of AES – EMERGENCY ALERT SYSTEM and on Tues. 28 May 2024, some banks and companies will no longer open.

Thurs. 23 May 2024 Happy Welsh Guy:

Tony is quite correct the RV will happen soon, but not yet. This is what is really happening. There is a carefully, orchestrated plan in effect, that is being meticulously monitored.

Tier # 1 and Tier # 2 is currently being financially hydrated.

When this is completed to the satisfaction of the Alliance then and only then will Tier # 3 be financially hydrated.

When Tier 3 is completed to the satisfaction of the Alliance then and only then will Tier # 4 (US) the internet group be financially hydrated.

Everything is currently “On Track” and moving to expectation.

If everything continues to expectation, then Tier # 4 should be financially on or about JUNE 15th with a back wall of July 4th.

It is “NOT” going to happen today, tomorrow or this month. However, Tony is right. It will be our time soon. Nothing will stop this except for a 911 type event.

My source actually sits on a special committee formatted for the very specific purpose of the timing of the revaluation to take place.

June 15th is not that far away so remain patient and be in expectation

Fri. 24 May 2024 Goldilocks: “A Bank just told us they are going to move onto the QFS. First action date: June 21, 2024 before 3:00 p.m. MT. Second action date: June 24, 2024 for the remaining steps. It is important to note that this is just one bank’s timeline, but I can’t help from notice that this one is before the June 30th, 2024 laws that are taking effect on Crypto regulations and Stable Coins at the end of the month.”

Read full post here:  https://dinarchronicles.com/2024/05/25/restored-republic-via-a-gcr-update-as-of-may-25-2024/

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

Deepwoodz  On the contracts...The way I see it, the two most important factors are 1) the guarantee's, and 2) the fact that these countries and contractors have faith in Iraq to pay for the work they are doing. Let’s say I want to do an electrical contract for Iraq.  I want 1 million dollars for it. I don’t care what the exchange rate is as long as the payment I receive is worth 1 million DOLLARS.  They are using dinar to pay...since January 1...A sovereign nation must use sovereign currency to pay their debts or they are in violation of the multi currency practices(MCP) that the IMF abhors. [Post 1 of 2....stay tuned]

Deepwoodz  Using the current rate, I would be owed 1,310,000,000 dinar. Actually, the banking system will do the conversions automatically. I won’t even see any dinar. I will receive dollars in my American account. Or euros in my European account. Or pesos in my Mexican account ...using whatever exchange rate belongs to the country involved. Like I said,
doesn’t matter to me as long as the rate translates into my 1 million dollars.  Now, the importance of these guarantees and the fact that corporations are pouring in to do work after all these years. They now know Iraq is serious about paying their debts...[and] have the means to make good on their payments.  [Post 2 of 2]

We Have More Power Than The Bankers | Rafi Farber

Liberty and Finance:  5-24-2024

Silver broke above $30 last week and has held that level ever since. Silver is the "people's money." In the past, when the people wake up and lose faith in a paper currency system, silver moves dramatically higher, says Rafi Farber. 

No matter how much power the bankers have, "we have much more power than them because there is just so much more of us. When we wake up, we really bring silver up there."

INTERVIEW TIMELINE:

0:00 Intro

 1:18 Silver update

 6:33 Asian financial crisis

12:39 Strong Dollar

14:00 Central bank theft

16:16 Mainstream

21:04 Demand for precious metals

24:00 The End Game Investor

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

More News, Rumors and Opinions Friday PM 5-24-2024

TNT:

Tishwash:  Report: The departure of the United Nations mission from Iraq is an important step for the Sudanese government

 A report today, Friday, explained that the departure of the United Nations mission present in Iraq at the end of this month of May is a step of great importance to Iraqi sovereignty and to the government of Prime Minister Muhammad Shiaa Al-Sudani.

The report, which was published by the newspaper in English, and translated by Mail, stated, “The call to end the mission of the United Nations Assistance Mission for Iraq is part of a larger effort made by Baghdad to change the image of Iraq and direct it to an era that focuses on normal bilateral relations with other countries and international institutions.”

Renad Mansour, director of the Iraq Initiative at Chatham House, said, “The veneer of sovereignty is important for the government of Prime Minister Muhammad Shiaa al-Sudani,” noting that “Baghdad wants to show that this is not the same Iraq that witnessed a civil war, rebellions, or all of these types of conflicts that... "I have represented the country for the past few years, but this is a new chapter."

He added, "This is also why the Sudanese government hopes to renegotiate the presence of international forces present in Iraq as part of the anti-ISIS coalition."

Moreover, Baghdad believes that the presence of special UN oversight and officials reporting to the Security Council on its often embarrassing local dynamics hampers its strategy .

Other countries, which of course have their own problems, are not subject to similar reporting requirements .

Last year, Baghdad requested a strategic review of UNAMI activities as part of a one-year extension of the mission's mandate. This led to the visit of former UN official Volker Perthes to Iraq in November. He met with a wide range of actors across the country to assess the Mission's activities and future.

Al-Sudani's letter in April was a response to the strategic review's activities and conclusions. It objected to the fact that Peretz met with officials and figures from outside the Government of Iraq, including party officials and members of the Kurdistan Regional Government and civil society, and demanded a shorter timetable for the closure of the UN mission and the cessation of its activities. To be limited to non-political jobs.

Mansour pointed out that "there is a great debate about the role of the United Nations Assistance Mission for Iraq, but not everyone agrees with the government in Baghdad that the mission's political activities are no longer needed . "

The report continued, "The end of the mandate of the United Nations Assistance Mission for Iraq will not mean that Iraq is completely ending United Nations activities in the country . "

Mansour said, "This is a symbolic effort on the part of the government to present the country as a sovereign state that does not need a UN mission, nor does it need to hold a briefing to the UN Security Council every three months."

Some members of the international community have expressed their fear of ending the mission, albeit in diplomatic language.

The United States is a particularly important actor because it has the pen on Iraqi issues in the Security Council, which means it leads negotiations and drafts resolutions. This will be important in the coming weeks  link

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Tishwash:  In light of the Middle East conflict, the World Bank expects oil prices to exceed $100

The World Bank said on Friday that disruption of oil supplies if the conflict escalates in the Middle East could lead to higher global inflation rates.

The bank said in a report published today that a severe price disruption could lead to oil prices exceeding $100 per barrel, which would increase inflation in 2024 by about one percentage point.

He added that the continuation of geopolitical tensions over the past two years led to a rise in the prices of oil and many other commodities even as global growth slowed. For example, the price of Brent crude jumped to $91 per barrel earlier this month, about $34 per barrel more than the average for the 2015-2019 period.

The bank's forecasts indicate that Brent crude prices will reach $84 per barrel on average in 2024 before falling to $79 on average in 2025, assuming there are no disruptions to oil supplies due to the conflict. But if conflict in the Middle East escalates, these unrest could push global inflation rates higher.

The report added, "If minor disturbances occur, it may lead to raising the average price of Brent crude to $92 per barrel during the current year."

According to the report, severe unrest could lead oil prices to exceed $100 per barrel, raising global inflation in 2024 by about one percentage point.

The report also noted that the average price of gold - a popular choice for investors looking for a “safe haven” - is expected to reach a record level in 2024 before declining slightly in 2025.

Gold enjoys a special status among assets, and its price often rises during periods of uncertainty in geopolitical conditions and public policies, including conflicts.

The bank stated that, strong demand from several central banks in developing countries, coupled with increasing geopolitical challenges, is expected to boost gold prices throughout 2024.

The report indicates that the escalation of conflict in the Middle East could also lead to higher prices for natural gas, fertilizers and food, and the region is an important supplier of gas - 20% of the global trade volume of liquefied natural gas passes through the Strait of Hormuz.

The bank warned that if LNG supplies are cut off, fertilizer prices will also rise significantly, which will likely lead to higher food prices.

According to World Bank forecasts, food prices will generally fall somewhat - by 6% in 2024 and 4% in 2025. Fertilizer prices are expected to fall by 22% in 2024 and 6% in 2025.

The bank's report pointed out that the acceleration of investment in green technology has led to a strengthening of the prices of key metals, which are critical to the global transition to clean energy.

Copper prices - the main component used in electricity grid infrastructure and the electric vehicle industry - rose to their highest level in two years this month, according to the report.

The World Bank added that it is expected to rise by 5% in 2024 before stabilizing in 2025. Aluminum prices are expected to rise by 2% in 2024 and 4% in 2025, supported in particular by the production of electric cars, solar panels and other products. Renewable energy infrastructure.  link

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

Frank26   The problem is you don't see any of these contracts open do you?  ...No, all of these contracts are sitting there waiting and waiting for what?  For Sudani to pull the trigger.  What is the trigger?  The lynchpin that will activate the contract and readjust the value according to the exchange rate of the Iraqi dinar, where the contract was signed in the Iraqi dinar value but to match their [contract holder's] currency.  Brilliant... These signed guaranteed contracts will adjust to the calculation of the IQD value...These foreign currencies will not be calculated into the new exchange rate until the new Iraqi dinar exchange rate hits Forex...

Militia Man   Question:  People want to know if they can drag this out until next year?  Militia Man: We don’t know the timing. But, I don’t think we are even close to go that long. There is way too much going on in the world and this is not only about Iraq. Remember all boats rise with the tide...I believe Iraq is ready to go with the rest of the world. Along with other countries like the Vietnamese dong.

************

Iran's Supreme Leaders Promise to Iraq IQD Rate

Edu Matrix:  5-24-2024

Iran's Supreme Leaders Promise to Iraq IQD Rate -Iraqi Prime Minister Travel to Tehran.

https://www.youtube.com/watch?v=526J-DHeYzU

Goldilocks' Comments and Global Economic News Friday Afternoon 5-24-24

Goldilocks' Comments and Global Economic News Friday Afternoon 5-24-24

Good Evening Dinar Recaps,

" Chairman of the Securities Commission in Iraq, Faisal Al-Haims, confirmed today, Wednesday, that the authority is studying the possibility of licensing brokerage companies to trade in shares on international stock exchanges."

Forex is sold "in shares" through exchange-traded products (ETPs) and exchange-traded notes (ETNs).

Licensing brokerage companies to trade on the global exchange, also known as a foreign exchange (forex) market, is a necessary process that allows companies to operate in the market.

As long as global financial standards and International digital norms/regulations are followed, a forex license can be issued by regulatory authorities.

This procedure guarantees a company's compliance with International regulatory standards. Without a license, a broker's work is considered illegal. 

These procedures will allow the Iraqi Dinar to be bought and sold on Forex when they are done. At the present time, banks are in process of learning how to do foreign currency exchanges through an electronic process.  

Now, it makes sense why my friend told me they were doing foreign currency exchange training with every currency except the dinar, but this is about to change with the reclassification of the Iraqi dinar by the end of this month.   Economy   Gofaizen & Sherle   FinJuris

© Goldilocks

~~~~~~~~~

House Passes CBDC Anti-Surveillance State Act | Financial Services Committee

~~~~~~~~~

The Middle East and North Africa Financial Action Task Force (MENAFATF), at its general meeting, held in the Kingdom of Bahrain for the period from 19-23 May 2024, approved the mutual assessment report for the Republic of Iraq, which reflects its great commitment to applying international standards to combat money laundering and the financing of terrorism. | CBI

~~~~~~~~~

"Commissioner Pham Announces CFTC Global Markets Advisory Committee Meeting on June 4"

Time:
* 10am to 3pm

Where: 
* CFTC’s New York Regional Office

Who:
*Global Markets Advisory Committee

Agenda:
* To advance three recommendations from the March meeting

Topics:
* Global Market Structure Subcommittee Recommendation - Inclusion of U.S. Treasury ETFs as Eligible Initial Margin Collateral
* Technical Issues Subcommittee Recommendation – Publication of Resource Document to Support Transition to T+1 Securities Settlement
* Digital Asset Markets Subcommittee Recommendation – Adoption of an Approach for the Classification and Understanding of Digital Assets (Iraqi Dinar will be one of these)

As we have seen by following the news, these topics for review are already underway inside the new QFS.

I am simply sharing this report to let you know that the Commodities Futures Trading Commission (CFTC) is the governing body of the new QFS based on its ties to the commodity sector of the markets.

Each of our tokenized assets and opportunities for banking portfolios will have been reviewed and approved through the CFTC.    CFTC 1    CFTC 2   

This meeting gives us a good idea of where we are in the implementation stages of the QFS.

© Goldilocks

~~~~~~~~~

DTCC Announcement:

"DTCC Completes Blockchain Pilot for Mutual Fund Data"

Depository Trust & Clearing Corporation completes fund data tokenization pilot with Chainlink.

Chainlink is a Smart Contract Network that enables the beginning and conclusion of a trade through the linking of assets wanting to be cleared in a transaction.

The pilot explored the ease of access in determining Net Asset Value (NAV) data for mutual funds across different blockchain networks.

In other words, various stocks, bonds, and other investments are being tested to be listed with new NAV values on the DTCC. (Reset)     Investors Observer    Wikipedia  

© Goldilocks

~~~~~~~~~

Russia signs decree allowing seizure of US assets in Russia | Jurist

~~~~~~~~~

Ether ETFs Clear Major Hurdle, Though SEC Hasn't Cleared Them for Trading Yet | Coindesk

~~~~~~~~~

Elon Musk predicts AI will take everybody's jobs | 9News

~~~~~~~~~

Digitalization of trade and maritime transport accelerates thanks to UNECE tools | UNECE

~~~~~~~~~

Third Conference on the International Role of the U.S. Dollar: Welcoming Remarks by Governor | Youtube 

~~~~~~~~~

Iran's Supreme Leaders Promise to Iraq IQD Rate | Youtube

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~~~~~~~~

👆Oh My God. This Bank just told us about when they are going to move onto the QFS.

First action date: June 21, 2024 before 3:00 p.m. MT

Second action date: June 24, 2024 for the remaining steps.

Is important to note that this is one bank's timeline, but I can't help from notice that this one is before the June 30th, 2024 laws that are taking effect on crypto regulations and stablecoins at the end of the month.

© Goldilocks

~~~~~~~~~

CSI Partners with TruStage%2 Compliance |  Valdosta Daily Times

~~~~~~~~~

👆 Banking Systems are moving to digital. Several of them are beginning to make announcements. You may be getting a notice yourself soon.

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SEC approves rule change to allow creation of ether ETFs | CNBC

The SEC has approved a rule change that paves the way for ETFs that buy and hold ether. The commission approved bitcoin ETFs less than six months ago - those funds have proven a big success for the industry.

Many of the companies that sponsor bitcoin ETFs have already started the process of launching an ether fund. The approval of ether ETFs is a sign that the SEC's stance toward crypto may be softening. The approval for ether ETFs does not extend to other crypto projects on the Ethereum network.

~~~~~~~~~

Bitcoin and Ethereum are both considered a commodity. More on this tomorrow with Ethereum.

~~~~~~~~~

Bionic Eye Gets a New Lease of Life | IEEE Spectrum

Pixium Vision, a company with an innovative retinal implant that tackles vision loss, has been acquired by Science, a bioelectronics startup run by Neuralink's co-founder, Max Hodak. Pixium was in danger of disappearing completely after running out of money last November. Studies suggest that its technology is safe and potentially effective. Science will push to get the technology approved in Europe as quickly as possible.

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World now multipolar! | Youtube

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Thank you Dinar Recaps

“Tidbits From TNT” Friday 5-24-2024

TNT:

CandyKisses:  Parliamentary Finance pledges to quickly pass budget tables

Information / Baghdad.

The Parliamentary Finance Committee confirmed voting on the 2024 budget tables before the end of the current legislative term.

Committee member Khalil Dosky told Al-Maalouma that "the parliamentary finance committee aims to study the items of the budget tables to include many aspects, including determining government spending."

He added that "his committee began to discuss the paragraphs of the budget tables to prepare a detailed report and enter proposals and discussions in order to complete and mature all opinions," pointing out that "budget tables will be presented to political forces."

He pointed out that "there is a great desire among members of the House of Representatives in order to approve the tables as soon as possible," stressing that "voting on the 2024 budget tables before the end of the current legislative term." 

CandyKisses:  The Iranian General Staff publishes the initial report on the causes of the president's helicopter crash

Information / Baghdad  Today 08;33

On Thursday evening, the Iranian General Staff published the preliminary report issued by the Supreme Investigation Committee to examine the causes of the crash of the helicopter of the martyr Iranian President, Mr. Ebrahim Raisi and his companions.

The authority said in the results of the report that the president's helicopter continued its pre-planned course and did not depart from it, adding that the helicopter pilot made contact with the two helicopters within the president's convoy.

The results of the report confirmed that no trace of bullet or similar injuries was observed on the wreckage of the helicopter carrying the Iranian president.

The results also showed that the president's helicopter burned after colliding with the slopes, adding that "search operations continued until five o'clock in the morning due to the ruggedness of the area, dense fog, and cold weather."

The Iranian staff pointed out that "the operation ended after finding the site of the helicopter crash through Iranian drones, and then the rescue teams headed towards the site," noting that "no suspicious point was detected in the helicopter crew's communications and dialogues with the control tower."

The staff said a large part of the documents and effects associated with the incident had been collected, but that more time needed to be studied deeper.

A few days ago, Iranian television announced the martyrdom of Iranian President Ebrahim Raisi, Foreign Minister Hossein Amir-Abdollahian and their companions in the crash of the helicopter they were carrying in East Azerbaijani airspace.

Searches for the wreckage of the helicopter were hampered by fog and heavy rain, while the temperature touched minus 15 degrees.25

************

Tishwash:  Parliamentary Finance is confused by the large difference between the 2023 and 2024 budgets... and warns against stopping provincial projects

Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, revealed today, Thursday (May 23, 2024), that service and urban projects, some of which are ministerial, have been halted due to the reduction in governorate allocations in the financial budget tables for the year 2024.

The Council of Ministers voted in an extraordinary session last Sunday on the budget schedules and referred them to the House of Representatives, which received them the day before yesterday, Tuesday.

Al-Karaawi said in a televised statement, followed by “Baghdad Today,” “We noticed in the budget tables that there was a reduction in allocations to the governorates, some of which reached 80% compared to what was allocated to them in last year’s budget, and this may cause projects to stop and not lead to covering their expenses and contractors’ dues, and this may be what may happen.” "It causes a problem and a gap in the issue of financing."

He stressed, "Projects, including ministerial ones, have been halted due to lack of funding," pointing out that "there is a turbulent indicator between the 2024 budget and last year in terms of project financing, and we will host the Ministers of Finance and Planning next week."

Al-Karaawi pointed out, “Preparing a list of clarifications and sending them to the Ministry of Finance about the reasons for the increase in expenditures, the mechanism for collecting oil and non-oil revenues, and the inflation of the financial deficit in the budget.”

He added, "The government has committed itself to collecting 27 trillion dinars in non-oil revenues during the year 2024, and we requested clarification from the Ministry of Finance about the mechanism for achieving this goal," noting that "there is an increase in the operating budget that reached 156 trillion dinars."

The parliamentary finance member expected that “the maximum time limit for approving the budget schedules will be before the end of the current legislative term on next June 9, so there will be an intensive program for the Finance Committee to discuss these schedules and find solutions to the problems in them.”

It is noteworthy that Prime Minister Muhammad Shiaa Al-Sudani revealed in a press conference following the cabinet session last Sunday the details of the budget schedules and said in the most prominent contents:

- Table (A) includes revenues totaling (144.336) trillion dinars, and Table (B) concerns total planned expenditures totaling (210.936) trillion dinars.

- The planned budget deficit amounted to (63.599) trillion dinars, and Table (C) is the centrally funded workforce table, amounting to (4,079,906) employees, and governing expenditures amounted to (10.042) trillion dinars.

- The investment budget for 2024 is (54.298) trillion dinars, and may reach 55 trillion dinars.

- Governorate allocations to local government programs with an investment allocation amounted to (10.633) trillion dinars in 2023, and we financed (3.333) trillion, based on fundamental requests from the governorates.

- The remainder of the allocation (7.333) trillion dinars is in a trust account, at the disposal of the provincial governments.

- Allocating approximately (8) trillion dinars to ongoing projects, including allocations in 2024.

- For the first time in the history of budgets, we exceeded spending by 50%.

The increase in debt repayment amounted to 3.9 trillion dinars. In 2023, the debt repayment was 12,751, and in 2024, we repaid 16.725 trillion.  link

Mot:  ... Are We there Yet!!!!?????

Mot: .... I Get it!!!

News, Rumors and Opinions Friday AM 5-24-2024

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 Fri. 24 May 2024

Compiled Fri. 24 May 2024 12:01 am EST by Judy Byington

Global Financial Crisis:

US Debt Clock: FED Q&A Disclosure: The Federal Reserve wants you to believe that their Federal Reserve notes have intrinsic value. This illusion dates back to 1694, when the Bank of England was established as the first central bank to issue notes and legal tender. This created a framework similar to the one the Federal Reserve uses today. Since the Federal Reserve controls the money supply and their currency is not backed by any tangible asset, they can continuously print money. This leads to the devaluation of the currency and causes inflation. This inflation ultimately affects everyone who uses or accepts the currency. However, even in dark times, there is hope. A New World Dawns is approaching, bringing light and change to the world.

Timing:

Banks were closed Memorial Day Weekend, (just long enough to make the Quantum Switch).

Global Currency Reset:

Thurs. 23 May 2024 Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#, 667-770-1865

A Contact at a Redemption Center said Tier4b (Us, the Internet Group) would get emails to set appointments over the weekend.

Bruce felt it was likely that we won’t get the 800 numbers to make appointments until Tues. 28 May, and could begin exchanging on Wed. 29 May.

Wed. 22 May 2024 Wolverine Chat: “This will not be a long chat. There was a meeting last night in Reno. The topic was when to release the notifications. The notifications are coming out. The main bondholders are hopefully expecting notifications today. So hold on everyone!!  We are on the very edge of this! Expecting notifications to come in today for the major bondholders. Tier4B, in my opinion, will hopefully come in on the weekend.  Things are happening in the Pentecostal group. The leader will be having a get together in Bogota the first week of June, so then they will be ready to go. It was a very good audio that they put out yesterday. Hopefully they will be able to release it has been long time for that platform as the owner has been through so much. Not much other Intel coming through right now. Keep your fingers crossed and hopefully we will have good news very soon. Take care,” Wolverine

Tues. 21 May 2024 Banker: “I’m being told emails should come on the 24th which is this coming Friday, which would give the banks time to deal with their Fridays and Mondays and begin to schedule appointments later into next week. We can only hope that at some point these projections will be accurate.” On Wed. 22 May 2024Banker: : “A second confirmation of the above post has been received today so please stay alert come Friday. GOD Bless y’all for staying with us thru all this.”

Wed. 22 May 2024 MarkZ: “I am confident that some Bond Holders such as those in Humanitarian Projects are being paid and bonds began moving on Wed. 22 May.”

Tues. 21 May 2024 Unknown Source: “Banks in the USA will close on the 24th and until May 27th (Monday) they will be offline, without credit cards and without access to 24-hour banking. It will be the beginning of AES – EMERGENCY ALERT SYSTEM and on Tues. 28 May 2024, some banks and companies will no longer open.

Wed. 22 May 2024: US Debt Clock: Elon Musk’s Revolutionary Vision! Transforming the American Economy with Blockchain and AI, the New US Treasury Dollar, and Precious Metals Backing Currency! – American Media Group (amg-news.com)

Read full post here:  https://dinarchronicles.com/2024/05/24/restored-republic-via-a-gcr-update-as-of-may-24-2024/

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

Frank26  Question: "Is the rate in the budget?"  Yes ma'am.  There's a line item...

Frank26  A second set of books is a normal business action.  Many companies, many firms for financial projections, for balances, for audit purposes, for changes whatever it may be, run a second set of books.  The second set of books is simple business practice.  It's not illegal unless you're doing it illegally under the table...This second set of books is not hidden...they [Iraq] expose it [their second second set of books] to the right people, IMF, World Bank, US Treasury...

Militia Man  Are they going to change the value of their currency...?  I'm pretty sure they are going to need to to pay for all these [reconstruction] objects...rebar, the cement - all that stuff is expensive at 1310.  It's not so expensive if it's back at a 'previous era'....If they have the true value, their real effective exchange rate, it's going to be far cheaper...

The Debt Wall COLLISION Is Happening RIGHT NOW...

Lynette Zang:  5-23-2024

Today we are talking about AI, and the risk it proposes to our financial stability, rising corporate defaults and much more...

https://www.youtube.com/watch?v=dtnXC7pI9gs

THE SYSTEM IS CRACKING. Home Affordability Hits HISTORIC LOW... Economy Coming Apart.

Greg Mannarino:  5-23-2024

https://www.youtube.com/watch?v=NHN8wnATv6A

More News, Rumors and Opinions Thursday PM 5-23-2024

KTFA:

Clare:  Sudanese calls on the private industrial sector to invest in raw materials available in Iraq

5/23/2024

Tuesday, Prime Minister Muhammad Shiaa Al-Sudani called on the Iraqi private industrial sector to invest in the raw materials available in the country.

This came during the launch, in Najaf Governorate, today, of the executive works on the Iraqi Diyar Glass Factory project.

The project is the first to be implemented in accordance with the sovereign guarantees approved in the budget, and in cooperation between the Trade Bank of Iraq (TBI) and the German Export Bank. It also represents the most important forms of cooperation between Iraq and Germany, the foundations of which were laid during His Excellency’s visit to the German capital, Berlin.

Al-Sudani stated that this factory is being implemented in an industrial city by an investor who is responsible for providing all services. The industrial city is also preparing to embrace industrialists and provide land and services, which is a feature that we aspire to be implemented in all governorates.

He pointed to the new project, which is the first to produce glass, with a capacity of 800 tons per day, which means 25% of the local market’s need. The factory will rely on silica available in Iraq, stressing the availability of many raw materials that have not been invested. He also directed the necessity of implementation according to the plan and schedule. Timeline.

The Prime Minister affirmed the government’s support for the private sector, and the provision of guarantees for all priority projects, especially the housing and construction sector, which represents a large demand for construction materials, indicating the country’s need to triple the existing factories for coverage.

Al-Sudani called on the serious private sector to invest in this important opportunity, as the government continues to remove obstacles and bureaucracy, as this path will provide real job opportunities, and larger industries will settle in this city and other industrial cities.  LINK

  ~~~~~~~~~~~~~

The Big Bopper:  Hi KTFA Family, Does this represent the first project to start from the 2024 budget schedules? IMO, it sure reads like that….. on Wednesday’s CC, Frank asked if we could produce an article that showed the new sovereign guarenteed contracts at work from the 2024 budget schedules, if im not mistaken, this looks like the first!!

 Am I wrong on this, my opinion mistaken? Please anyone that has an opinion or can clarify this articles meaning, other than the very clear and obvious words in it, we should see something soom? Thanks Clare for this!   Thank You kindly, The Big Bopper

 Clare:  IT'S A GREAT ARTICLE...VERY TELLING. SUDANI IS GETTING IT DONE! HE IS A GREAT LEADER FOR IRAQ IMO

The project is the first to be implemented in accordance with the sovereign guarantees approved in the budget,

THAT'S EXACTLY WHAT IT SAYS!

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Clare:  Al-Sudani: We will not let the projects stop in any governorate, and their completion will change the economic and social reality

5/23/2024

Prime Minister Muhammad Shiaa Al-Sudani stressed today, Thursday, that we will not let the projects stop in any governorate, indicating that their completion will change the economic and social reality of the governorate.

The media office of the Prime Minister stated, in a statement received by {Al-Furat News}, that “Al-Sudani chaired, in the Najaf Governorate building, a meeting of directors and officials of service departments and formations, during which the reality of services in the governorate was reviewed, and the most prominent problems and obstacles facing the progress of implementation of service projects.” ".

He stressed that "the government kept in mind the citizen's entitlements when preparing the government program, and made the necessary basic services among the most important priorities, especially the lagging and stalled infrastructure projects related to the health, education, and other sectors, due to the conditions of war, terrorism, and instability."

He explained that "there is pressure on services and infrastructure in all sectors in the governorate, for various reasons, the most important of which is the delegations of visitors to Najaf Al-Ashraf."

The Prime Minister said during the meeting: “We look at services starting from the perspective of lagging projects, some of which date back to 2008, such as the treatment plant project,” pointing out that “the continuation of lagging projects causes collapses and changes in prices that burden the state.”

He added, "The federal government and local governments form one team," noting that "the voter for local governments is awaiting the results of his participation in the elections."

He continued: “Our visit aims to develop solutions to the problems, and we do not want to repeat the same excuses after a month or two,” adding: “We are following up on the smallest details and developing solutions, and we have allocated financial allocations, but we are governed by a budget and allocations, and the ability to spend these allocations.”

He added: "We will not let the projects stop in any governorate, and the completion of the projects will change the economic and social reality of the governorate," adding: "Visitors to the Old City come from all over the world, and the level of services in the governorate is measured in light of what is available in this area of ​​the city."

He pointed out that "investing in Najaf Governorate is necessary to develop the industrial city and complete it in various aspects," calling on businessmen to "invest sovereign guarantees to establish agricultural and industrial projects."

He stated that "the indicators of the agricultural season confirm the growth in production, and 5 trillion dinars have been allocated to pay the dues of farmers and farmers, and Iraq is on the path to achieving self-sufficiency in basic crops."  LINK

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

Frank26  A second set of books is a normal business action.  Many companies, many firms for financial projections, for balances, for audit purposes, for changes whatever it may be, run a second set of books.  The second set of books is simple business practice.  It's not illegal unless you're doing it illegally under the table...This second set of books is not hidden...they [Iraq] expose it [their second second set of books] to the right people, IMF, World Bank, US Treasury...

Paulette  Many feel that if Iraq changes the rate, they will have tons of money just as they that hold IQD hopefully will.  The difference between "dinar holders" and the government of Iraq is that we hold IQD and they hold USD.  Where I think Iraq sees a windfall is if they pass the budget after the CBI 'reveals" the RD/RV to the world and thereafter RI's.  For example, if the CBI changes the rate to 1.30...and then the COM and Parliament pass the change to the budget tables, a 130 billion USD value budget will be 100 billion IQD.  If they then RI after to 2.60USD, that same 100 billion IQD will have the purchasing power of 260 billion USD...deficit solved...

Secret Banking Crisis Looms; What the Fed Doesn’t Want You to Know – Insider Nomi Prins

Daniela Cambone:  5-22-2024

"The Fed needs to understand its boundaries and stop pretending it’s like inflation Superman," says Dr. Nomi Prins, geopolitical finance expert and bestselling author.

She explains that the Fed has no ability to impact real inflation — the increased prices that individuals and companies face daily. She also discusses how the Fed is operating in conjunction with big banks.

Banks remit their excess earnings to the Fed, which then passes those earnings to the Treasury Department. However, because the banks haven’t reported enough of their excess earnings, the Fed is operating at a loss.

She warns that if these banks collapse, we can expect more quantitative easing and a return to zero interest rates.

CHAPTERS:

00:00 Fed cut rates

3:00 Five Flashpoints for Q-3

6:19 Credit cards debt

9:11 U.S.-China tariffs

12:11 Geopolitics moves

13:32 Inflation

15:29 Commodity prices

 19:20 Banking crisis

https://www.youtube.com/watch?v=d171i_EGIoE