More News, Rumors and Opinions Wednesday PM 5-29-2024
Ariel: Iraq Goes Live with Temenos Core Banking and Payments
Iraq has gone live also in conjunction with the US. The National Bank of Iraq has gone live with Temenos core banking and payments, aiming to develop new products faster and optimize the customer experience.
Following this announcement, the National Bank of Iraq (NBI), which is a part of the Capital Bank Group, has successfully launched Temenos core banking and payments.
This integration will focus on meeting the needs, preferences, and demands of customers in an ever-evolving market, while also prioritizing the process of remaining compliant with the regulatory requirements and laws of the local industr
Ariel: Iraq Goes Live with Temenos Core Banking and Payments
Iraq has gone live also in conjunction with the US. The National Bank of Iraq has gone live with Temenos core banking and payments, aiming to develop new products faster and optimize the customer experience.
Following this announcement, the National Bank of Iraq (NBI), which is a part of the Capital Bank Group, has successfully launched Temenos core banking and payments.
This integration will focus on meeting the needs, preferences, and demands of customers in an ever-evolving market, while also prioritizing the process of remaining compliant with the regulatory requirements and laws of the local industry.
Darin Eardly , Temenos. It is all connected QFS, stopping the clowns in our government from laundering money, demanding real representation not the one-way street all for them. Thanks for the information.
T+1 settlement about to be T+0, stablecoins Mica all together.
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Prayer Barn Looks like Iraq will be one the 1st with a secure banking system shutting down money laundering. That’s fantastic news. I’m sure it will quickly spread and other nations will follow.
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Joshua : It’s happening~
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Gianna Iraq is owning the world.
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Fnu Lnu Much has been made of the number 90 Trillion. This is the alleged number of Dinar at large...I do not believe this number is valid and here's why. 1) There are always casualties such as fire & natural disasters. 2) We know there has been an effort, for years, to coax three zero notes out from under mattresses, with some success. 3) We know stolen Dinar have been recovered in very large amounts recently. 4) Here's the biggie: I saw a video some years back, where a jet was seized attempting to leave the country, and it was stacked from floor to ceiling with coffin sized cases full of Dinar. [Post 1 of 2....stay tuned]
Fnu Lnu It had to be trillions. Much to my surprise, the jet was eventually cleared to take off. However, it was no surprise to hear the jet was registered to Nuri Al Maliki. The jet landed in Zurich Switzerland where it was then seized and the Dinar confiscated. Some may remember an article stating that Switzerland repatriated a large number of Dinar to Iraq but the article was scant on details. When one considers all these scenarios, it would seem that there is far less Dinar in circulation that 90 trillion. It may well be half that amount. IMHO. [Post 2 of 2]
NOW May Be The Time To GET OUT OF THE STOCK MARKET! Here Is Why. CRITICAL UPDATES.
Greg Mannarino: 5-29-2024
BRICS Burst the US Dominance Bubble: What Next?
Fastepo: 5-28-2024
The West, particularly the United States, is increasingly concerned about the deepening partnership between China and Russia.
This evolving alliance could lead to significant changes in the global order, potentially undermining US and Western influence.
Such shifts carry numerous consequences, prompting Western nations to act strategically.
The West's dependencies on China for trade and Russia for energy make a complete decoupling challenging. Instead, Western nations are attempting to curb further collaboration between China and Russia while maintaining necessary interactions.
This dual approach aims to balance limiting their strategic partnership without severing vital economic ties.
In this video, we explore the extent of the China-Russia partnership and its implications for the West, analyzing how their cooperation might shape global dynamics and influence Western policies.
Zimbabwe to Establish New Gold-Backed Currency Exchange Rate Value
Zimbabwe to Establish New Gold-Backed Currency Exchange Rate Value
On May 23, 2024 By Awake-In-3D
The Reserve Bank of Zimbabwe (RBZ) has taken a significant move to solidify the Zimbabwe Gold (ZiG) as a standalone currency by applying for an International Organisation for Standardisation (ISO) code.
“The stability of the exchange rate will reflect the true value of the economy and the purchasing power of the currency, boosting domestic demand and supporting industrialisation in trade.” Zimbabwe central bank deputy governor, Innocent Matshe
This step, announced by central bank deputy governor Innocent Matshe, aims to enhance the currency’s credibility and facilitate its integration into global financial systems.
ISO currency codes are critical in international finance, providing unique alphanumeric identifiers for currencies used in cross-border transactions.
Zimbabwe to Establish New Gold-Backed Currency Exchange Rate Value
On May 23, 2024 By Awake-In-3D
The Reserve Bank of Zimbabwe (RBZ) has taken a significant move to solidify the Zimbabwe Gold (ZiG) as a standalone currency by applying for an International Organisation for Standardisation (ISO) code.
“The stability of the exchange rate will reflect the true value of the economy and the purchasing power of the currency, boosting domestic demand and supporting industrialisation in trade.”
Zimbabwe central bank deputy governor, Innocent Matshe
This step, announced by central bank deputy governor Innocent Matshe, aims to enhance the currency’s credibility and facilitate its integration into global financial systems.
ISO currency codes are critical in international finance, providing unique alphanumeric identifiers for currencies used in cross-border transactions.
Common examples include USD (United States Dollar), GBP (British Pound), and EUR (Euro).
These codes, established by the ISO, ensure accuracy and efficiency in global payments.
Speaking at a breakfast meeting organized by the Zimbabwe Economics Society in Harare, Matshe elaborated on the strategic importance of securing an ISO code for ZiG.
He emphasized that the success of ZiG hinges on a tightly managed monetary policy, strict control over money supply, and the creation of domestic demand for the currency.
The introduction of ZiG is seen as a pivotal measure to address economic instabilities, including currency fluctuations, exchange rates, and inflation, which have plagued Zimbabwe’s economy.
Matshe highlighted the necessity of having a stable base currency to support sustained economic growth and industrialization.
“It is essential to have an affordable base currency. We cannot sustain a dual currency situation indefinitely. Zimbabwe’s economy has been growing despite past instabilities, including currency fluctuations, exchange rates and inflation. However, we need to address these issues,” he remarked.
He stressed that the digital financial landscape is crucial for a modern economy, enabling long-term planning and investment.
Addressing concerns about foreign currency availability, Matshe assured that the country has sufficient reserves to meet legitimate demands, provided proper documentation is presented.
He also noted that the gradual introduction of ZiG into the economy was a deliberate strategy to avoid overwhelming the market and to mitigate the impacts of a parallel market that dominates a significant portion of economic activities.
“Due to the situation in our country, where a parallel market drove approximately 80% of economic activities, it was crucial to ensure that we did not supply all the new currency at once. Therefore, we limited the amount of cash injected into the economy,” he explained.
“Although challenges persist, they will evolve. Most financial institutions have received sufficient small denominations of the currency to address these issues,” he said. “The stability of the exchange rate will reflect the true value of the economy and the purchasing power of the currency, boosting domestic demand and supporting industrialisation in trade.”
In conclusion, the pursuit of an ISO code for ZiG marks a crucial step in Zimbabwe’s broader economic strategy. By establishing ZiG as a recognized and standalone currency, the RBZ aims to stabilize the economy, build trust in the new currency, and pave the way for sustainable growth and industrialization.
Contributing article: https://www.newsday.co.zw/business/article/200027220/zim-applies-for-iso-code-for-zig
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© GCR Real-Time News
Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews
Follow me on Twitter: @Real_AwakeIn3D
“Tidbits From TNT” Wednesday 5-29-2024
TNT:
CandyKisses: Oil rises amid expectations of major producers maintaining production cuts
Economy News _ Baghdad
Oil prices rose in Asian trading on Wednesday amid expectations that major producers will maintain production cuts at Sunday's meeting, and that fuel consumption should start rising at the start of the peak demand season in the summer.
Brent crude futures for July delivery rose 15 cents, or 0.2 percent, to $84.37 a barrel by 0304 GMT. U.S. West Texas Intermediate crude futures for July rose 25 cents, or 0.3%, to $80.08.
Both benchmark crudes rose more than 1% the previous day.
Traders and analysts expect the Organization of the Petroleum Exporting Countries and its allies including Russia, known as the OPEC+ group, to maintain voluntary production cuts totaling about 2.2 million bpd.
Monday's Memorial Day holiday marks the start of peak demand in the United States, the world's biggest oil consumer, and maintaining production cuts would keep prices supported as consumption rises.
TNT:
CandyKisses: Oil rises amid expectations of major producers maintaining production cuts
Economy News _ Baghdad
Oil prices rose in Asian trading on Wednesday amid expectations that major producers will maintain production cuts at Sunday's meeting, and that fuel consumption should start rising at the start of the peak demand season in the summer.
Brent crude futures for July delivery rose 15 cents, or 0.2 percent, to $84.37 a barrel by 0304 GMT. U.S. West Texas Intermediate crude futures for July rose 25 cents, or 0.3%, to $80.08.
Both benchmark crudes rose more than 1% the previous day.
Traders and analysts expect the Organization of the Petroleum Exporting Countries and its allies including Russia, known as the OPEC+ group, to maintain voluntary production cuts totaling about 2.2 million bpd.
Monday's Memorial Day holiday marks the start of peak demand in the United States, the world's biggest oil consumer, and maintaining production cuts would keep prices supported as consumption rises.
Increased fighting in the Gaza Strip as Israeli tanks advance into the heart of the Rafah Strip has also provided some price support amid fears that the conflict could spill over into the greater Middle East, the main supply area.
Investors are also awaiting U.S. crude inventories data from the American Petroleum Institute, which will be released later in the day. The release of the data was delayed by a day due to the Memorial Day holiday on Monday.
A preliminary Reuters poll on Tuesday showed U.S. crude oil inventories were expected to fall by about 1.9 million barrels last week.
Investors are also awaiting US inflation data this week which could weigh on expectations of a rate cut from the Federal Reserve and weigh on oil prices.
The US Core Personal Consumption Expenditure Price Index (PCI) report for April is due on Friday. The Fed's preferred inflation gauge is expected to remain flat on a monthly basis.
Expectations about the timing of the rate cut have fluctuated, with policymakers concerned as the data still reflects flat inflation
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CandyKisses: Al-Sudani chairs the second meeting on the follow-up of agreements and memoranda concluded with Turkey
Baghdad / Nina / Prime Minister Mohammed Shia Al-Sudani chaired the second meeting on the follow-up of agreements and memoranda concluded with Turkey, during the recent visit of the Turkish President to Iraq.
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CandyKisses: Good news regarding the federal budget
Shafaq News / The coordination framework held a meeting on Tuesday in the presence of Prime Minister Mohamed Shia Al-Sudani.
A statement after the meeting said that the meeting deliberated on the financial budget tables and stressed the need to approve them to achieve the interests of citizens and support the economic situation.
The meeting also stressed the importance of proceeding with the election of the Speaker of the House of Representatives as soon as possible.
A political source revealed to Shafaq News Agency on Monday that the reason for the meeting is due to objections to the budget tables sent by the Iraqi government, by the framework forces and refused to pass them in their current form.
The government had sent the budget tables to parliament for a vote after a delay of more than five months as a result of technical problems centered on the size of the deficit, and the government's attempts to reduce it.
There was controversy over the budget tables after allocating an investment budget to the provinces amounting to 41 trillion Iraqi dinars, which some saw as unfair to the provinces by reducing their quotas in exchange for increasing the Kurdistan Region's share of 4 trillion, which the government denied.
The 2024 budget, according to Prime Minister Mohamed Shia Al-Sudani, is 211 trillion dinars, and the salaries of employees for the year 2024 amount to 62 trillion dinars, while the budget for 2023 was 199 trillion dinars and the salaries of employees 59 trillion dinars.
The revenues of the 2024 budget are estimated at 144 trillion and 336 billion dinars, while expenditures amount to 210 trillion and 936 billion dinars, while the deficit is 63 trillion and 599 billion dinars
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Tishwash: Parliamentary Finance announces the necessity of maintaining the economic foundations in the budget
The Finance Committee, headed by Engineer Atwan Al-Atwani, held its fifth meeting dedicated to discussing the general budget schedules for the year 2024.
The Chairman of the Committee stressed the necessity of conducting a comprehensive review, reconsidering the components of the budget, and studying the schedules in detail in order to find a clear vision, in addition to the importance of considering the entitlements of governorate projects compared to project allocations. Ministries, noting that the current financial allocations end at the end of the fiscal year.
The members stressed the importance of supporting the government in implementing its program aimed at providing services in all regions, taking into account supporting the governorates in strategic and infrastructure projects.
The committee discussed the possibility of making the necessary transfers and their impact on the sectors in a productive manner, while drawing a clear vision in accordance with the requirements of the public interest and reducing the deficit by rationalizing spending and supporting important sectors such as education and health, while paying attention to supporting the private sector.
It was emphasized that the economic foundations in the budget must be maintained, the philosophy of maximizing imports and enhancing exports, building decisions according to a clear vision while taking into account their positive repercussions, and emphasizing the completion of government projects that contribute to serving the citizen.
Mot: Can Ya See it Yet??????
Mot: Soooooooo - Hows Ur Daze agoing!!!???
Humanity’s Inevitable Path to a Global Currency System Reset (RV/GCR): Awake-In-3D
Humanity’s Inevitable Path to a Global Currency System Reset (RV/GCR)
On May 25, 2024 By Awake-In-3D
The signs are all around us as the world stands on the brink of a profound financial transformation.
In This Article:
Historical Context Leading to the RV/GCR
The Flaws in the Fiat Currency System
Indicators of an Impending Financial Reset
The Path to a More Stable Economic Future
Humanity is witnessing an unprecedented shift in the global economic landscape.
Humanity’s Inevitable Path to a Global Currency System Reset (RV/GCR)
On May 25, 2024 By Awake-In-3D
The signs are all around us as the world stands on the brink of a profound financial transformation.
In This Article:
Historical Context Leading to the RV/GCR
The Flaws in the Fiat Currency System
Indicators of an Impending Financial Reset
The Path to a More Stable Economic Future
Humanity is witnessing an unprecedented shift in the global economic landscape.
Technological advancements, geopolitical shifts, and inherent vulnerabilities in the current fiat currency financial system drive the imperative for a comprehensive global financial/currency reset (GFR/GCR), underpinned by the revaluation of currencies (RV) with tangible asset backing – Gold.
Total global government debt, and its unsustainable interest payment burdens, will rise to over $326 trillion in 2024.
Every government leader, financial and economic expert knows that this ever-increasing debt can never be paid off … Ever.
The current financial system will implode. It is only a matter of time.
There will be a total financial and currency system reset. There must be. It is inevitable.
Historical Context Leading to the RV/GCR
Throughout history, monetary systems have evolved to meet the changing needs of societies.
From barter to various forms of currency, humanity has continually sought efficient means of exchange. This evolution reflects the cyclical nature of monetary systems: they rise, fall, and transform.
The current era of global fiat currencies, which derive value from government decree rather than intrinsic worth, marked a significant departure from previous systems anchored by tangible assets such as gold and silver.
The abandonment of the gold standard in the early 20th century epitomized this shift, bringing flexibility and control for central banks but also sowing the seeds of inherent vulnerabilities.
The Flaws in the Fiat Currency System
The advantages of fiat currencies—flexibility and economic stimulation—have also introduced significant risks.
Governments’ propensity to accumulate debt without restraint has led to skyrocketing global debt levels. By the end of 2024, the United States alone will have amassed over $35 trillion in debt, highlighting a collision course with a fiscal and currency collapse.
Such debt burdens constrain future generations and limit economic maneuverability.
Furthermore, the continuous monetary easing by central banks to stimulate economies has resulted in significant inflationary pressures, eroding the value of currencies and diminishing purchasing power.
This inflationary spiral exacerbates socioeconomic disparities and undermines financial security.
A critical flaw in the fiat currency system is the environment it creates for moral hazard among governments and central banks.
With the ability to print money at will, there is little incentive for fiscal responsibility.
Global governments continue to accrue unsustainable levels of debt, knowing they can rely on central banks to monetize this debt.
Central banks, in turn, implement policies that prioritize short-term economic gains over long-term stability, perpetuating a cycle of irresponsible financial behavior.
Indicators of an Impending Financial Reset
Several indicators point to the necessity of a global financial reset.
The relentless ascent of global debt levels highlights the unsustainable nature of the current system.
Many nations grapple with alarmingly high debt-to-GDP ratios, creating a debt trap that stifles economic growth. Additionally, the volatility in financial markets and the limitations of central bank interventions reveal the fragility of the current paradigm.
Exchange rate volatility within the global fiat currency markets are at unprecedented levels. When the end comes, the US Dollar will be the last fiat currency standing before it too collapses.
Recent losses in traditionally “safe” long-term bonds, reminiscent of past financial crises, underscore the intrinsic, systemic risks associated with a debt-based system.
The political and social ramifications of these economic vulnerabilities further underscore the need for a coherent and long-term financial strategy.
The Path to a Global Financial System Reset
A comprehensive global financial reset must address the unsustainable debt burdens, inflationary pressures, and systemic risks that imperil economic stability.
This reset involves a calculated departure from the fiat currency system, embracing a transformative vision for the global financial overhaul.
Recognizing the approaching fiat system collapse, the growing BRICS Alliance is well on the way towards a gold-backed currency and new financial system infrastructure. They don’t want to go down with the global fiat system ship of fools.
The revaluation of currencies with tangible gold backing is a crucial step toward a more stable and equitable financial future. By anchoring currencies to tangible assets, the global economy can achieve greater stability and reduce the risks associated with debt-based financial systems.
The Bottom Line
Humanity stands at a pivotal moment in economic history. The vulnerabilities of the current fiat currency system and the mounting global debt crisis necessitate a comprehensive financial reset.
By understanding the historical context, recognizing the flaws in the existing system, and identifying the indicators of an impending reset, we can chart a path toward a more stable and equitable financial future.
The global financial reset, underpinned by the revaluation of currencies with tangible asset backing, offers a transformative vision that addresses the systemic risks and economic challenges we face today.
The signs of this profound shift are evident, signaling that humanity is indeed on the brink of a significant financial transformation.
© GCR Real-Time News
Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews
Follow me on Twitter: @Real_AwakeIn3D
News, Rumors and Opinions Wednesday AM 5-29-2024
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 Wed. 29 May 2024
Compiled Wed. 29 May 2024 12:01 am EST by Judy Byington,
Global Currency Reset: (RUMORS)
Tues. 28 May 2024 TNT: This morning’s notification still says 99.9%. Be Alert!
Tues. 28 May 2024 Patriot Rod Steel: This is EXACTLY what I was told 25 yrs ago! We go first quietly, then the rates & gold back currencies are announced on Forex & new bills to the Public #PatriotRodSteel
Tues. 28 May 2024 MarkZ: Mike & Mark discuss plausible scenario where we get our notifications 1st and they want us to go through our appointments before rates go public. So evidence of rate change on FOREX might not happen for a week or two following.
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 Wed. 29 May 2024
Compiled Wed. 29 May 2024 12:01 am EST by Judy Byington,
Global Currency Reset: (RUMORS)
Tues. 28 May 2024 TNT: This morning’s notification still says 99.9%. Be Alert!
Tues. 28 May 2024 Patriot Rod Steel: This is EXACTLY what I was told 25 yrs ago! We go first quietly, then the rates & gold back currencies are announced on Forex & new bills to the Public #PatriotRodSteel
Tues. 28 May 2024 MarkZ: Mike & Mark discuss plausible scenario where we get our notifications 1st and they want us to go through our appointments before rates go public. So evidence of rate change on FOREX might not happen for a week or two following.
Tues. 28 May 2024 Thailand announces plans to join BRICS.
Mon. 27 May 2024 Wolverine Breaking News: QFS Funded Token Contracts Launched! How your QFS accounts linked to DNA signatures are accounted for! Full disclosure under GESARA! The Quantum Financial System (QFS) heralds a new era in global finance, marking a fundamental shift from the outdated and corruption-prone systems that have long plagued our economic structures. As we stand on the cusp of this revolutionary change, it is crucial to recognize and support the immense benefits that QFS brings, ensuring a more stable, secure and equitable financial future for all. https://gazeteller.com/breaking-news-qfs-funded-token-contracts-roll-out-how-your-dna-signature-linked-qfs-accounts-full-disclosure-under-gesara/
Sun. 26 May 2024: Wolverine: As I said before T1 and T2 are already finished. It is a process which should be finished by June 15th. We should get good news this week. I have had confirmation that Brazil will start this week from the Central Bank of Brazil. Thurs. 6 June is D Day.”
Sun. 26 May 2024 NC Chick: A banker from Brazil did a talk last week. He said Whales would be finished in a day or so and notifications have gone out to the Bond holders. He was amazed that T4B hadn’t been notified. Actually, it is the same person that tells Wolverine.
Tues. 28 May 2024 Bruce via Sue: Our number one Intel Guy said we could expect midday and early evening for notifications and going from tomorrow Wed. 29 May to the weekend Sat. 1 June and maybe exchange Thurs. 30 May through the weekend.
Another call from a person very high and strategic said to look for the 800s anytime from tomorrow Wed. 29 to Tues. 4 June.
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Global Financial Crisis:
Australia’s Bankwest bank has announced that it will close all its branches and ATMs by the end of 2024, in order to become a fully digital bank. The Cabal’s Great Reset coming soon to a bank near you, as part of the globalist push towards programmable CBDCs so they can control your life.
Tues. 28 May 2024 Philadelphia-based Republic First Bank has been seized by regulators, says the FDIC. In a surprising turn of events, Philadelphia-based Republic First Bank has become the latest casualty in a string of bank failures that have shaken the financial sector since last spring. The bank, with $6 billion in assets, was seized by regulators due to challenges stemming from the current high-interest rate environment, marking it as the first bank failure of the year.
Tues. 28 May 2024 Chase Bank building explodes in downtown Youngstown, Ohio; People are missing under the rubble.
Tues. 28 May 2024: Crack-Up Boom: The Imminent Economic Apocalypse – The Crack-Up Boom in Action! – American Media Group (amg-news.com)
Tues. 28 May 2024: BOOM! Trump’s Executive Orders: Dismantling the Federal Reserve and Shaking World Banking Systems! – American Media Group (amg-news.com)
Read full post here: https://dinarchronicles.com/2024/05/29/restored-republic-via-a-gcr-update-as-of-may-29-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man If you raise the value of the currency it's going to have a ripple effect...Instead of being a pebble...or a brick in the pond this might be a boulder. There's going to be some waves. The World Bank, IMF, US Fed, US Treasury...Bank of International Settlements, everybody's going to need to know what you're going to do and when you're going to do it and pretty close. They're not going to be broadcasting it like everybody thinks, 'What's the date and what's the rate?' That's not how it works. But we study it close enough to where...we can see it can't be far off...
Frank26 Everything is being done in an expedited manner. But unfortunately it's expedited Middle East manner...You sign a contract in the Middle East, that doesn't mean that it's going to be activated on the day that you sign it, nor tomorrow, nor the next week, nor the next month. It is activated when they say so. Why? Because you need what they've got...You got to go by their rules. They have to move by their quicksand pace. I'm sorry, that's all there is to it. You have witnessed it. You have experienced it. You have tasted it by being involved in the monetary reform investment...
Another 5 New Countries Seeking To Join BRICS Alliance
We Love Africa: 5-18-2024
A handful of developing countries are looking to join the BRICS alliance to break free from the US-dominated financial system.
Developing countries in Asia, Africa, and Latin America find the bloc lucrative and can help their respective economies to thrive.
Moreover, the de-dollarization initiative is the bind that holds them together as developing economies want to cut ties with the US dollar.
1. Bolivia 2. Cameroon 3. Cuba 4. Syria 5. Zimbabwe
Economist’s “News and Views” Tuesday 5-28-2024
Andy Schectman: Report of New Partially Gold-Backed BRICS Settlement Currency
Arcadia Economics: 5-28-2024
While gold and silver prices have rallied over the past 3 months there's been a lot of coverage about how much gold China and the central banks have been buying. But quietly in the background, it's now being reported by Pepe Escobar that the BRICS have been moving forward a project to create a BRICS settlement payment currency.
That Escobar says is now being officially examined by the BRICS Business Council and could be adopted potentially as early as 2025.
Interestingly, it fits with recent comments by former Goldman Sachs commodity chief Jeff Currie about what's happening in the oil, gold, and commodity markets, and in today's show Andy Schectman talks about the news and what he's hearing as well.
Andy Schectman: Report of New Partially Gold-Backed BRICS Settlement Currency
Arcadia Economics: 5-28-2024
While gold and silver prices have rallied over the past 3 months there's been a lot of coverage about how much gold China and the central banks have been buying. But quietly in the background, it's now being reported by Pepe Escobar that the BRICS have been moving forward a project to create a BRICS settlement payment currency.
That Escobar says is now being officially examined by the BRICS Business Council and could be adopted potentially as early as 2025.
Interestingly, it fits with recent comments by former Goldman Sachs commodity chief Jeff Currie about what's happening in the oil, gold, and commodity markets, and in today's show Andy Schectman talks about the news and what he's hearing as well.
To find out more, and get caught up to speed on the latest precious metals news, click to watch the video now!
The NDB is Fundamental to BRICS: Let's Talk
Think BRICS: 5-28-2024
Unlock the Secrets of the BRICS New Development Bank - Your Gateway to the Rising Economic Powers!
Discover the captivating history and inner workings of this game-changing financial institution in our comprehensive video guide.
Join economic experts as they dive deep into the role of the New Development Bank's five members, its pioneering projects, and the transformative benefits it offers compared to traditional institutions like the World Bank.
Get unbiased reviews and an in-depth comparison of its financial services, highlighting the best features that make it a force to be reckoned with.
Discover how to qualify for NDB loans and its far-reaching economic impact on the global stage.
This video is a must-watch for anyone interested in BRICS countries, understanding BRICS trade agreements, navigating BRICS financial services, or seeking insights into BRICS member country investments.
In this episode, we're joined by Rhod McKenzie from @SCOBRICSInsight and Terry Boyland, CEO of Firm Economics (https://firmeconomics.com).
Together, we explore the evolution of the NDB, its partnerships with other financial institutions, and its role in promoting economic sovereignty among BRICS nations.
We'll also discuss how the NDB supports disaster relief efforts, such as the recent flooding in Brazil, and the strategic collaborations that enhance global economic sustainability.
While this comprehensive podcast delves deep into the New Development Bank and its role within the BRICS economic bloc, it does not provide information on registering for BRICS summits or directly compare the BRICS alliance to the G7.
Stay OUT Of Dollar & Debt Markets; "Terminal Decline" Of Fiat Currencies | Francis Hunt
Liberty and Finance: 5-27-2024
Precious metals are breaking out of trading rages. The gold/silver ratio has broken down, which means silver is outperforming dramatically.
Francis Hunt expects this to continue while he forecasts a rise in both metals.
Paper currencies are in "terminal decline," says Francis Hunt …He cautions against holding a lot of cash in the banks.
INTERVIEW TIMELINE:
0:00 Intro
1:10 Gold/Silver ratio
4:25 Silver update
10:30 Platinum update
18:30 Societal collapse
Where The Price Of Oil Is Just $15/Barrel
Where The Price Of Oil Is Just $15/Barrel
Notes From the Field By James Hickman (Simon Black) Tues May 28 2024
In the year 1712, an English ironworker and part-time Baptist preacher named Thomas Newcomen finally put the finishing touches on a new invention that had been more than a century in the making.
Newcomen called it the ‘atmospheric engine’, and it was essentially a very crude, rudimentary steam engine that he used to pump water.
The idea had existed since the early 1600s, and a number of inventors had attempted to create something similar. But Newcomen was the first to develop a functioning engine, and his key breakthrough was including a fuel source (wood) to heat up water and create steam.
It’s remarkable that, even to this day, most automobile engines, generators, and electrical power plants still rely on Newcomen’s basic concept: burn a fuel to create heat, then harness that heat energy to generate motion and mechanical work.
Where The Price Of Oil Is Just $15/Barrel
Notes From the Field By James Hickman (Simon Black) Tues May 28 2024
In the year 1712, an English ironworker and part-time Baptist preacher named Thomas Newcomen finally put the finishing touches on a new invention that had been more than a century in the making.
Newcomen called it the ‘atmospheric engine’, and it was essentially a very crude, rudimentary steam engine that he used to pump water.
The idea had existed since the early 1600s, and a number of inventors had attempted to create something similar. But Newcomen was the first to develop a functioning engine, and his key breakthrough was including a fuel source (wood) to heat up water and create steam.
It’s remarkable that, even to this day, most automobile engines, generators, and electrical power plants still rely on Newcomen’s basic concept: burn a fuel to create heat, then harness that heat energy to generate motion and mechanical work.
Obviously, the design has been much improved since then; James Watt perfected Newcomen’s invention decades later with the first commercially viable steam engines (which ultimately kicked off the Industrial Revolution).
Inventors also discovered far more efficient fuel sources.
Coal, for example, was found to have more than twice as much heat energy per pound than wood… which is a key reason why coal became the most important commodity of the 1800s. But other commodities like oil and gas were later discovered to be even more fuel efficient than coal.
Today all three are still used in vast quantities. In fact, coal-fired power plants still produce over 2,300 gigawatts of electricity worldwide, which constitutes about 30% of global electricity production capacity.
Natural gas is also responsible for nearly 2,000 gigawatts (in addition to its widespread use in heating). And oil is clearly the most dominant fuel source for internal combustion engines which power global transportation.
Now, at the end of the day, all three commodities serve essentially the same purpose, i.e. they are fuel sources whose heat energy is harnessed to perform work. And because of this, their heat energy should be priced more or less the same.
For example, a barrel of oil contains the equivalent of 5.6 million British Thermal Units (BTUs) of heat energy. So, at a price of roughly $80 per barrel of oil, this is the equivalent of about $14.28 per million BTUs of heat energy.
Oil prices do vary from place to place. But the differences are fairly minor; the West Texas Intermediate price (used primarily in the US) is slightly lower than the Brent oil price (used primarily in the North Sea), but they are within a few percent of each other.
But natural gas is a totally different story.
In Europe, for example, natural gas prices are significantly higher than they are in the US and currently trade for roughly $9.12 per million BTUs. And only a few months ago, natural gas prices in Europe were nearly $14 per million BTUs, i.e. almost equivalent to oil price when measured in dollars (or euros) per million BTUs.
But natural gas prices in the US are dramatically lower than they are in Europe… and it’s easy to understand why: the US has some of the biggest natural gas reserves in the world, while Europe has almost nothing by comparison. (This is why Europe is so reliant on Russian gas).
And since Joe Biden has banned the exporting of LNG (liquefied natural gas) from the US, there’s basically nowhere for all that excess US natural gas to go.
This is why prices in the US are less than $3, versus more than $9 in Europe. If US producers were free to export, prices in the US would rise, prices in Europe would fall, the global natural gas prices would be more or less the same, just like global oil prices.
But, at least for now, LNG exports are banned… and that keeps prices incredibly cheap in the US. How cheap exactly?
Well remember that $80 oil is the equivalent of $14.28 per million BTUs of heat energy. US natural gas prices are $2.77 per million BTUs of heat energy. So, based on the price per million BTUs, natural gas is about 80% cheaper than oil in the United States.
Another way to say it is that US natural gas is priced at the equivalent of $15 for a barrel of oil… which makes US natural gas the most underpriced conventional energy commodity in the world.
Now, I say “conventional” because there is another option that blows natural gas away-- and that’s nuclear.
The energy released in a nuclear reaction from just a single cubic foot of uranium is literally FIFTY BILLION times greater than the energy released from burning an equivalent amount of natural gas. So, nuclear is, by far, the cheapest and most efficient energy… which is why China, India, Russia, etc. are all feverishly building nuclear power plants.
The West, by comparison, is shutting their nuclear plants down. It is the dumbest policy imaginable.
So, at least for now, natural gas is America’s cheapest energy source. But it probably won’t stay that way for long.
First, large tech companies, which are building massive, energy-hungry AI data centers, are also looking at putting in their own power plants… which will most likely be powered by natural gas.
This increased demand will certainly have a big impact on price.
The second catalyst is that the export ban probably won’t last. There are lawsuits, legislation, and an upcoming election, any one of which could reverse the ban and start up LNG exports once again. When this happens, US natural gas prices could quickly rise
In either case, natural gas producers stand to benefit substantially from higher prices. And it just so happens that shares of many of the best quality producers right now are laughably cheap, with low multiples relative to earnings, book value, and Free Cash Flow.
We’ll talk about this more in the future, but our core view is that it makes a lot of sense to own ‘real assets’, i.e. scarce, high quality, productive assets that the world truly needs (and cannot be conjured out of thin air by central banks.)
Energy commodities like natural gas, and their highest quality producers, definitely fit that description, with the added benefit that they’re dirt cheap right now.
To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC
P.S. If you’re interested in more analysis on this theme, including our best research on some of the most deeply undervalued real asset producers in the world, consider giving The 4th Pillar, our real-asset focused investment newsletter, a try.
https://www.schiffsovereign.com/trends/where-the-price-of-oil-is-just-15-barrel-150883/
Goldilocks' Comments and Global Economic News Tuesday Evening 5-28-24
Good Evening Dinar Recaps,
"Wall Street Moves to Fastest Settlement of Trades in a Century" T
oday, Wall Street moves to T+1 settlement times. This will minimize risks taken in the market when it comes to ensuring enough money secured on both sides of a trade.
I am aware that many people are calling for a crash in the market this week, but it probably will have more to do with moving from T+2 settlements to T+1 settlements this week.
Some of the trades from Friday will get caught in T+2 settlements until all trades are cleared this week. Also, BuyBacks are coming back into play. This has not been done since the early 2000s.
Look for many companies and the Governments to buyback some of their bonds. Buying back bonds at a discounted price will support the market and give companies the opportunity to buyback some of their own shares.
Goldilocks' Comments and Global Economic News Tuesday Evening 5-28-24
Good Evening Dinar Recaps,
"Wall Street Moves to Fastest Settlement of Trades in a Century"
Today, Wall Street moves to T+1 settlement times. This will minimize risks taken in the market when it comes to ensuring enough money secured on both sides of a trade.
I am aware that many people are calling for a crash in the market this week, but it probably will have more to do with moving from T+2 settlements to T+1 settlements this week.
Some of the trades from Friday will get caught in T+2 settlements until all trades are cleared this week.
Also, BuyBacks are coming back into play. This has not been done since the early 2000s. Look for many companies and the Governments to buyback some of their bonds.
Buying back bonds at a discounted price will support the market and give companies the opportunity to buyback some of their own shares.
A buyback in bonds will increase liquidity allowing a company to own more of their shares at a discounted price during volatile moments. It increases the company's ownership of the shares they repurchase bringing in more profits to the company.
This creates a higher share price on the markets allowing more dividend opportunities for those who own the shares and profits for the company.
Going to a T+1 settlement process will give companies the opportunity to execute new plans for their company with this new money that will be coming in for their use. Finance Yahoo Bloomberg
© Goldilocks
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Don't look for this T+1 settlement to last very long. Many countries have already gone to T+0 settlements.
Those with instant settlement payment systems will have an advantage until everyone catches up.
This is all part of the process in moving to the QFS. The QFS is an electronic system that will allow instant payments to take place. This is the goal.
© Goldilocks
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Digital Vs Electronic Records Management Explained | Armstrong Archives
When we move from T+1 settlements to T+0 settlements across the Nations, the shift into the QFS will become possible.
Why?
The only way to do that is through a digital process moving away from wire payment processing services (ACH) for good.
© Goldilocks
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Digital Payments - Worldwide | Statista Market Forecast
Digital processing will be able to utilize many Networks in the future to process a payment.
Digital Networks that run on the QFS will provide many choices in payment sources going forward.
© Goldilocks
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Hong Kong's Currency Market Announcement | HKEX
"The “FIC Advisory Panel” chaired by HKEX Co-Head of Markets Glenda So, will advise the exchange on its FIC strategy and facilitate the introduction of new FIC products and services, further developing the FIC market and supporting Hong Kong's position as an international financial centre."
The FIC Advisory Panel has come in to help in the transition of the new digital economy regarding the Currency Market and fixed-income businesses.
The FIC is expected to expand their Currency Market internationally.
© Goldilocks
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Once Iraq's digital banks are licensed and good to go, their currency will be licensed as well.
© Goldilocks
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Iraq 7 Factors to Increase Iraq's Currency- Iraqi News | Youtube
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US Ambassador to Iraq Alina Romanowski commended Iraq for its official ratification of an electronic payment system at the end of April. | Shafaq News
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"The implementation of electronic procedures by the Central Bank of Iraq under the supervision of the US Treasury Department had a clear impact on economic growth as well as on the decline in the value of the dollar against the Iraqi dinar." | Shafaq News
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International Monetary Fund mission for the current year 2024 for Article Four consultations praised the Iraqi government’s measures, including the monetary policy led by the Central Bank of Iraq.
The report indicated that the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation.
Adding that the Central Bank raised the interest rate on monetary policy tools from 4% to 7.5% and increased the mandatory reserve requirements for banks from 15% to 18%, and these steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating an economic environment. More stable.
The report emphasized that important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.
The report noted that Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, as well as the role of the Central Bank of Iraq in expanding relations. Correspondent banking, to facilitate smoother international trade financing operations.
Central Bank of Iraq
Information Office
May 27, 2024
https://cbi.iq/news/view/2592
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The Iraqi banking system may soon receive banks of another type called (digital banks). What are these banks and will the citizen, the banking system, and the Iraqi economy benefit from them? Files that the beneficiary of the banking sector services in Iraq is trying to ask. | Economy News
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Financial Services Providers Highlight Opportunities in Cloud-Native Banking | Pymnts
The modernization of back-end systems represents an ongoing challenge for banks, especially as they seek to introduce new digital-first services.
The options used to be stark: Rip and replace, or get the most mileage of the legacy systems already in place.
In recent years we’ve seen the continued emergence of cloud-core banking systems used in the service of conducting daily banking activities, while future-proofing financial institutions for the changes to come — through API connectivity — particularly in instant payments.
Private and public cloud setups (not hosted on the premise of the companies themselves) connect financial services companies with providers and applications that handle everything from payments processing to reporting to compliance. Tied to all those functions are cloud ledgers, which record the transactions themselves automatically.
The shift to the cloud is especially timely, given the rise of embedded payments and embedded lending. Those two trends, along with virtual card issuance, can create new revenue streams for digitally minded enterprises.
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Stablecoins and Economic Stability: A Balancing Act - Daijiworld
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A flood of cheap Chinese exports is putting the entire global economy at risk, France’s finance minister warns | Fortune
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MoMo, VNPAY, and ZaloPay Enable QR Payments for Visa Cardholders in Vietnam - Fintech Singapore
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What the SEC's Pivot To Approve Spot Ether ETFs Means | Investopedia
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SWIFT |Swift
Register now to explore the transformative journey that ISO 20022 offers for the future of payment systems around the world.
Swift’s Tom Dunbar will be joined by Mel Gauci from the Australian Payments Network, and Christine Orina from the Central Bank of Kenya, to discuss market standards for ISO 20022, and how these will bolster financial stability and spur innovation.
Join us to learn more about this exciting topic!
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More News, Rumors and Opinions Tuesday PM 5-28-2024
TNT:
CandyKisses: US ambassador receives ‘fantastic news’: Iraq will see economic growth and a modern financial system
Baghdad - Mil
The US ambassador in Baghdad, Alina Romanowski, on Tuesday expressed her admiration for "great news" from Iraq, expecting economic growth supported by a modern financial system in the country.
“Great news!” Romanowski said in a post on the X platform, “Great news! Iraq officially ratified the electronic payment system on April 29.”
“This step will pave the way for a modern financial system and economic growth,” Romanowski added.
https://miliq.news/political/30778
TNT:
CandyKisses: US ambassador receives ‘fantastic news’: Iraq will see economic growth and a modern financial system
Baghdad - Mil
The US ambassador in Baghdad, Alina Romanowski, on Tuesday expressed her admiration for "great news" from Iraq, expecting economic growth supported by a modern financial system in the country.
“Great news!” Romanowski said in a post on the X platform, “Great news! Iraq officially ratified the electronic payment system on April 29.”
“This step will pave the way for a modern financial system and economic growth,” Romanowski added.
https://miliq.news/political/30778
Tishwash: This was in Iraq's news
American banks are abandoning their branches and turning to online services.. What is behind this?
The American newspaper, The Wall Street Journal, shed light on the plans of banks in the United States to abandon branches and move towards enhancing online banking services.
The newspaper revealed that major banks in the United States began closing branches in large numbers, as S&P Global indicated that about 2,454 bank branches were closed during the past year.
As of December 2023, the number of bank branches in the United States has shrunk by more than a fifth compared to 2009.
According to the newspaper, about 400 bank branches will be closed in 2024, including branches of Bank of America, JP Morgan Chase, US, Capital One, PNC, Wells Fargo, and TD.
Wells Fargo Bank topped the list of banks with at least 88 branch closures since the beginning of the year, according to the Office of the Comptroller of the Currency, which oversees US national banks.
What's behind it?
“High interest rates have contributed to a decline in bank profits, which could mean that more Americans may see their nearest bank branch close its doors,” says Nathan Stovall, head of financial institutions research at S&P Global.
He added to the newspaper: “Banks have realized that their physical footprint does not need to be as large today. As revenue pressures continue, banks are likely to continue to reduce branch networks.”
Experts believe, according to the Wall Street Journal, that banks are offering more online services at low fees, as well as improving digital banking applications, which are often faster and easier to conduct most transactions via mobile phone.
“The list of services that can be performed in bank branches is shrinking,” says Jim Perry, a senior strategist at Market Insights.
While online banking offers many benefits, there are people who do not consider getting rid of branches logical, such as some small business owners, according to the newspaper.
That's why financial consultant Chuck Failla says, "It's better for a neighborhood restaurant owner to bring his money to the bank at the end of the day than to pay an armored car service to come pick it up."
He adds that people who frequently need to exchange foreign currencies may also want to retain the option of being physically present at branches. link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Article: "March 11, 2024 Iraq government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 instead of 1,320 dinar. Implementing such a decision is likely to significanly increase Al-Sucani's popularity." Drop the mic. That's huge. It's phenomenal...That's still on the table.
PompeyPeter It [the increased and large 2024 budget and deficit] clearly tells us they got to change the exchange rate from 1310 and they have to have an international rate...All of this enormous infrastructure and development and world connectivity that we see in front of us...
Iraq 7 Factors to Increase Iraq's Currency- Iraqi News
Edu Matrix: 5-28-2024
Iraq 7 Factors to Increase Iraq's Currency Iraqi News Update - Parliament Committee Finds Issues in 2024 Budget - Iran's Status on the Development Road Project - Iraqi PM Takes Call from UN Secretary-General
Navigating Economic Cycles: Gold & Silver's Role in the Chaos Ahead
VRC Media: 5-28-2024
Egon von Greyerz and Matthew Piepenburg believe that gold and silver's role as money will come to the forefront as the current economic, political, and war cycles play themselves out in a tragic implosion of reckless debt and absurd government policies.
The duo discuss why the US dollar endgame is already upon us, the self-serving nature of governments, the tide turning when it comes to institutional gold allocation, and much more.
Ariel: What does the parallel rate reaching parity with the official price set by the CBI mean?
Ariel: What does the parallel rate reaching parity with the official price set by the CBI mean?
The reason you all have not seen a reinstatement of the IQD on the Forex Market is because the black market rate was artificially suppressing the value of the national currency due to the speculation in that area. This means in the parallel market, the exchange rate for the IQD against the USD is often higher than the official rate set by the central bank.
This discrepancy is driven by supply and demand dynamics, where limited access to foreign currency through official channels forces businesses and individuals to seek dollars in the parallel market at a premium. Now that there is basically only one set price across the board.
No one is going to have enough incentive in any market to resort to using the rate in the black market due to the lack of currency in the local Iraqi markets. Now businesses can actually be more transparent. More secure. And more reliable to not only the local market but the international market as well.
Ariel: What does the parallel rate reaching parity with the official price set by the CBI mean?
The reason you all have not seen a reinstatement of the IQD on the Forex Market is because the black market rate was artificially suppressing the value of the national currency due to the speculation in that area. This means in the parallel market, the exchange rate for the IQD against the USD is often higher than the official rate set by the central bank.
This discrepancy is driven by supply and demand dynamics, where limited access to foreign currency through official channels forces businesses and individuals to seek dollars in the parallel market at a premium. Now that there is basically only one set price across the board.
No one is going to have enough incentive in any market to resort to using the rate in the black market due to the lack of currency in the local Iraqi markets. Now businesses can actually be more transparent. More secure. And more reliable to not only the local market but the international market as well.
This will give confidence in businesses across the world to do business with Iraq. Which of course by default will increase investment in their country. Thus giving the Iraqi Dinar more value as time goes on making it a premier country to do business with on every level. Traders in the parallel market were hoarding foreign currency, anticipating further depreciation of the IQD.
This speculative activity was exacerbating the disparity between the parallel and official rates. But now this has come to an end. And now the citizens will have more of a reason to stop hoarding currency and bring it to the banks so the new currency can be issued. Which of course will need an exchange rate to accompany the new buying power that will come with the volume of new currency needed in order to maintain and eventually move past the current rate due to all the new business contracts
This is like a cosmic alignment that took place that was centuries in the making. You have no idea how close we are to now seeing the new exchange rate. This was the very thing that caused such a long wait. Now that it is a foregone conclusion. Many of the projects that were stalled in Iraq can move forward. Which makes the approval of the budget more exciting than ever before since anyone has been in this investment.
But another notable thing to this equation is the fact that America is now a Tier+1/Tier-0 country. Which means the international transactions speed of trade on a international and local level will be instantaneous. The timing of this couldn’t have been more perfect.
“On February 15, 2023, the Securities and Exchange Commission adopted rule amendments to shorten the standard settlement cycle for most broker-dealer transactions from “T+2” to “T+1,” subject to certain exceptions.
The compliance date for the rule amendments is May 28, 2024, at which point the standard settlement cycle will be T+1.
The SEC’s Office of Investor Education and Advocacy (OIEA) is issuing this Investor Bulletin to explain the new “T+1” settlement cycle and how it will affect certain transactions you place with your brokerage firm.”
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Jansen F: Even Grok knows it’s coming:
Ariel: I see Grok is rounding this thing off for us. The Iraqi budget is supported by 70 tons of gold. So I think they have this covered to whatever degrees is sufficient for them by those numbers.
“Tidbits From TNT” Tuesday 5-28-2024
TNT:
Tishwash: Central Bank: The issuance of new monetary denominations will not affect the dinar exchange rate
Member of the Board of Directors of the Central Bank of Iraq, Ahmed Barihi, confirmed today, Monday, that the issuance of new cash denominations, large or small, will not affect the dinar exchange rate.
Brehi told Al-Ma’louma, “Issuing rumors on social media sites about the issuance of new monetary denominations aims to create a state of confusion in the Iraqi market.”
He added, "The Central Bank of Iraq is working according to well-studied plans, and there is no intention to issue new currencies in large or small denominations."
He explained, "If we assume that the central bank issues a new currency, this will not affect the exchange rate of the Iraqi dinar." link
TNT:
Tishwash: Central Bank: The issuance of new monetary denominations will not affect the dinar exchange rate
Member of the Board of Directors of the Central Bank of Iraq, Ahmed Barihi, confirmed today, Monday, that the issuance of new cash denominations, large or small, will not affect the dinar exchange rate.
Brehi told Al-Ma’louma, “Issuing rumors on social media sites about the issuance of new monetary denominations aims to create a state of confusion in the Iraqi market.”
He added, "The Central Bank of Iraq is working according to well-studied plans, and there is no intention to issue new currencies in large or small denominations."
He explained, "If we assume that the central bank issues a new currency, this will not affect the exchange rate of the Iraqi dinar." link
VictorD: IMO, they can release all the paper currency they want, at any rate they want, it will not effect the currency value, just like the article states because it is controlled by the CBI. What effects the currency value is what the CBI sets it to or if it floats, the float value. Once the currency floats, it's a whole different ball game.
Tishwash: Adviser to the Prime Minister: Iraq's position in the World Summit Forum was prominent
The media advisor to the Prime Minister, Hisham Al-Rikabi, confirmed that Iraq’s position in the World Summit on the Information Society Forum was prominent.
Al-Rikabi said, in his blog post on the (X) platform, followed by the Iraqi News Agency (INA): “Iraq’s position at the World Summit on the Information Society Forum held in Geneva was prominent through the speech of the Minister of Communications, Hiam Al-Yasiri.”
Al-Rikabi added, “The participation of the Communications and Media Commission delegation in the forum came to emphasize the integrity of purposeful content, confront hacking, spread inflammatory content, and preserve the moral system of societies.” link
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CandyKisses: Al-Atwani: Employees' salaries, appointments and contracts are secured in the budget
Baghdad (NINA) - The head of the Finance Committee, Atwan Al-Atwani, announced that the salaries of employees, appointments and contracts are secured in the budget.
Al-Atwani's media office said in a statement that "the Chairman of the Finance Committee chaired the expanded meeting of the Parliamentary Finance Committee, to discuss the 2024 budget tables, in the presence of Deputy Prime Minister and Minister of Planning Mohamed Tamim, Minister of Finance Taif Sami and a number of advisers to the Prime Minister."
He added: "The meeting discussed the tables and data of the 2024 budget, the philosophy of building this budget, and the mechanisms for determining financial allocations, both with regard to reducing investment expenditures and the significant increase in current expenditures, and also discussed a number of important topics, including financial allocations to the governorates, spending policy, the mechanism for disbursing amounts, ways to fill the budget deficit and how to increase non-oil revenues, as well as the file of ensuring the sustainability of financing continuous projects."
According to the statement, Al-Atwani stressed "the keenness of his committee to discuss and analyze the data of the 2024 budget tables in order to secure the requirements for implementing the government program and other governing entitlements, noting that the diagnosis of the defect in the construction of the budget does not target anyone, but rather aims to improve performance."
He continued: "The salaries of employees are fully secured during 2024, and it was agreed to rotate the allocations of the governorates that were not spent last year to 2024 after securing the allocations of the Food Security Law in the spending units."
He noted that "the Ministry of Finance has been committed to completing the financing of the governorates' allocations for the year 2023," noting that "the allocations of appointments and contracts in the 2023 budget are legally secured, and these paragraphs will be implemented during 202."
He stressed that "the law to increase the salary of full-time appointees will be applied during the new fiscal year 2025."
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Tishwash: Expert: The Iraqi economy is witnessing remarkable growth, which was contributed to the decline in the dollar exchange rate
Economist Jabbar Goran revealed on Tuesday the high rate of economic growth in the country and that the Iraqi financial system is linked to the global banking system.
The economic expert and spokesman for the currency market in Sulaymaniyah, Jabbar Gorran, said in a statement to Shafaq News Agency: "The economic and financial situation of Iraq is developing and growing significantly, and now we are witnessing an increase in the country's economic growth by 2%, and this is a good thing for the Iraqi economy compared to previous years."
He added, "The implementation of electronic procedures by the Central Bank of Iraq under the supervision of the US Treasury Department had a clear impact on economic growth as well as on the decline in the value of the dollar against the Iraqi dinar."
He stated that "the monetary financial policy currently followed in the country has made the difference between the exchange rate of the dollar and the dinar shrink to the limits of ten thousand dinars, and this difference is considered normal for many reasons."
He pointed out that "the measures taken since the middle of last year have been implemented in a realistic manner, amounting to 30 financial measures, which had a positive impact on dealing in the Iraqi dinar instead of the dollar, when transactions in the Iraqi dinar in the country are now estimated at 90%, with the exception of the Kurdistan Region, and also paved the way for merchants to deal." Through external transfers directly through banks, 85% of local merchants can now deal with external transfers through banks to import materials from abroad.”
Kuran ruled out that the dollar exchange rate would be the same as the government exchange rate for administrative and financial reasons, indicating that the difference should remain this way at around 10 thousand dinars between the dollar and dinar exchange rate. link
Mot: Finded the ""Latest RV Clock"" - I Dids!!! - Explains a Lot - HUH !!!
Mot: . Say it --- Altogether Now!!!!
