Breaking Down the Coming Debt Crisis - Five Undeniable Truths About Money

Kevin Freeman: Breaking Down the Coming Debt Crisis - Five Undeniable Truths About Money

Palisades Gold Radio:  7-29-2024

Tom Bodrovics invites Kevin Freeman to the show. Kevin is a Co-Founder of the NSIC, Host of The Economic War Room, Bestselling Author and Expert on Economic Warfare.

 Kevin shares his passion for restoring a monetary system based on gold and silver, known as 'pirate money.' He argues that historically, societies have recognized gold and silver as money until recently when they began treating them as commodities or investments.

 Kevin then delves into economic warfare, explaining it as the use of economic means to undermine adversaries or enemies. He emphasizes its significance in today's world where economic power is wielded aggressively and sometimes arrogantly by both foreign and domestic enemies.

 He believes that elites aim to enslave economically through dependency on them.

The conversation then turns to the unsustainability of the debt-based monetary system, which Kevin sees as a form of enslavement due to the constant need to pay off debts.

He presents five truths about America's current situation, starting with its unsustainable debt path. With federal debt at $35 trillion and rapidly growing, the interest alone costs between $1.4 to $1.75 trillion annually, nearly equal to half of all personal income tax receipts in the U.S.

Furthermore, Kevin explains the structure of the U.S. national debt, particularly its short maturities leading to substantial increases in interest payments despite potential lower interest rates.

 He criticizes both the Trump and Biden administrations for missing opportunities to issue longer-term debt during near-zero rate periods.

 Mr. Freeman expresses concerns about the U.S.'s role as the issuer of the world's reserve currency and its use in economic wars. The potential danger lies in nations forming alternative trading blocks and removing the dollar's reserve status, which could weaken the U.S. economy significantly.

 He also discusses the historical precedent of using debt to influence foreign policy and inflation's disproportionate impact on the poor, leading to wealth disparity and potential social unrest.

The conversation then touches upon the potential weaponization of currencies by governments, specifically central bank digital currencies (CBDCs), which offer governments control over how their currency is used.

Kevin advocates for the use of gold and silver as legal tender to maintain purchasing power and avoid potential taxation like fiat currency. REDACTED Kevin concludes by advocating for a pirate money solution involving individuals holding their money in gold and silver at the state level, which cannot be interfered with by federal authorities based on court cases supporting real money.

 He encourages spreading awareness about the problem and solution.

Time Stamp References:

 0:00 – Introduction

 0:53 - Pirate Money

 3:18 - Economic Warfare

7:40 - Debt Enslavement

11:49 - Debt Unsustainability

 13:57 - Bonds & Long Term Debt

 16:34 - Borrowing Vs. Printing

17:54 - Debt Servicing & Spending

 20:13 - BRICS Vs. the Dollar

 24:00 - Dollar Weaponization

 28:34 - Inflation & Wealth Gap

33:39 - Fed's Purpose & Tool

38:19 - Exporting Inflation

43:15 - Inflation & CBDCs

 50:50 - Metals Legal Tender?

56:48 - Currency Solutions

1:02:48 - Wrap Up

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

Financial Apocalypse: U.S. Debt Reaches Mind-blowing $35 Trillion

Financial Apocalypse: U.S. Debt Reaches Mind-blowing $35 Trillion

On July 29, 2024 By Awake-In-3D

We Are Heading for an Economic Collapse at Warp Speed as Alarming Facts are Revealed

In This Article:

• The Dire State of U.S. National Debt

• Catastrophic Economic Implications

• Root Causes of the Explosive Debt Growth

The United States has reached a critical and alarming milestone: a national debt of $35 trillion.

This colossal figure not only breaks records but also signals an impending economic catastrophe.

VISUALIZING HOW LARGE $1 TRILLION DOLLARS ACTUALLY IS. Source: TheCalculatorSite.com

The Dire State of U.S. National Debt

The gross national debt of the United States has now soared past $35 trillion, a number that is almost unfathomable.

House Budget Committee Chairman Jodey Arrington (R-TX) expressed grave concern, noting the debt equates to $104,497 per person, $266,275 per household, and $483,889 per child.

In just one year, the debt has ballooned by $2.35 trillion, averaging $196 billion in new debt every month.

Catastrophic Economic Implications

This unprecedented level of debt spells disaster for the U.S. economy.

It threatens to drive up interest rates, reduce national savings, and compromise national security. The federal debt includes both public and intragovernmental holdings, placing an enormous burden on future generations.

ANOTHER WAY TO VISUALIZE JUST HOW LARGE $1 TRILLION ACTUALLY IS. Source: The Visual Capitalist

Root Causes of the Explosive Debt Growth

The potential for higher taxes and severe currency debasement looms large as the debt spirals out of control.

The rapid escalation of the national debt is attributable to several factors, with the government’s irresponsible response to the COVID-19 outbreak playing a significant role due to massive welfare spending.

However, the path to this fiscal abyss began long before the that, fueled by structural issues such as unsustainable entitlement programs, out-of-control government spending, and impotent economic policies that fail to generate sustainable tax revenues.

The Bottom Line

The U.S. national debt exceeding $35 trillion is not just a number—it’s a harbinger of economic disaster.

The enormity and implications of this debt demand urgent and decisive action.

Without immediate intervention, the United States faces a future marked by financial instability, higher taxes, and severe austerity measures.

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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” Tuesday 7-30-2024

TNT:

Tishwash:   UrgentAl-Sudani visits Tehran today

Prime Minister Mohammed Shia Al-Sudani will visit today, Tuesday, to participate in the swearing-in ceremony of the new Iranian President, Masoud Pezeshkian, which will take place in the Islamic Shura Council {Parliament}.

Foreign delegations will continue to arrive in Tehran from yesterday until the remaining hours of the swearing-in ceremony of the ninth Iranian president.

It is worth noting that the implementation ceremony of President Masoud Pezeshkian’s decree was held the day before yesterday, Sunday, and the text of the fourteenth presidential decree was delivered to the president-elect by the Leader of the Islamic Revolution in Iran.

According to Article 121 of the Iranian Constitution, the President of the Republic must take the constitutional oath before the Glorious Word of God and in the presence of members of Parliament, members of the Guardian Council, and the head of the judiciary in the Islamic Consultative Assembly.

The swearing-in ceremony of President Masoud Pezeshkian will be held in the Islamic Consultative Assembly on Tuesday evening, and according to Alireza Sharifi, the executive deputy of the parliament, more than 70 foreign delegations from different countries will participate in this ceremony.   link

Tishwash:  In the presence of Al-Sudani.. 3 files bring the framework together at the nightly negotiating table

The Coordination Framework, which includes the Shiite forces forming the government of Mohammed Shia al-Sudani, is scheduled to hold an important meeting on Monday evening, with the attendance of all its leaders, in addition to the Prime Minister.

A leader in the framework told Shafaq News Agency, "The Coordination Framework will hold a meeting in an hour from now, in the presence of its leadership and the Prime Minister, to discuss a number of important topics and issues on the political scene."

The leader added, "The meeting of the framework leaders will discuss the issue of   the position of the Speaker of the House of Representatives and agree to set a record date for holding the session to elect the president."

He explained that "the meeting will also discuss the file of forming local governments in the provinces of Diyala and Kirkuk, in addition to discussing with Al-Sudani the file of the Turkish incursion into Iraqi territory."

Despite the passage of more than 8 months, the Sunni political forces have not succeeded in agreeing on an alternative candidate for Parliament Speaker Mohammed al-Halbousi .

The parliament failed five times in a row to resolve the issue, in light of the division between the political parties in supporting one of the candidates for the position, namely Mahmoud Al-Mashhadani, the candidate of the Progress Party, and Salem Al-Issawi, the candidate of the Sunni parties (Sovereignty and the Azm and Al-Hasm alliances), who obtained the majority of votes during the last parliament session .

A few days ago, the Azm Alliance, led by Muthanna al-Samarrai, warned the Shiite forces against continuing to obstruct the election of the Parliament Speaker .

The leader of the coalition, Haider Al-Mulla, told Shafaq News Agency, "The talk about achieving a Sunni-Sunni consensus is an attempt to obstruct the election of the Speaker of the Council of Representatives. Throughout the life of the political process in Iraq, there has been no consensus or agreement on choosing any of the three presidencies."  link

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Tishwash:  Article 140 raises controversy again.. Calls to delay its implementation and take into account the “sensitivity of the situation”

 MP Mudhar Al-Karwi called, today, Monday (July 29, 2024), to delay the implementation of Article 140 in 38 villages in eastern Iraq, stressing that  the sensitivity of the situation must be taken into account .

Al-Karwi said in an interview with Baghdad Today, "The Committee for the Implementation of Article 140 recently issued a decision regarding agricultural contracts in 38 villages located within the vicinity of Khanaqin District in Diyala Governorate. This is a sensitive issue and requires flexible procedures because hundreds of farmers have official contracts that extend for decades."

Al-Karwi called on the Prime Minister to “issue an order to delay the implementation of the decision of the Committee for the Implementation of Article 140 and to give an opportunity to review the contracts in the villages covered by a higher committee affiliated with the Ministry of Agriculture and the rest of the parties to avoid any injustice or unfairness that affects Arab farmers. The sensitivity of the situation must be taken into account and the matter must be done according to fair and just principles to avoid any confusion.”

He pointed out that "waiting is the most appropriate thing at the moment and agreeing on specific procedures that will lead to achieving justice and fairness for all parties and that no farmer will be wronged, especially since the residents of these villages have been living there for decades."

It is noteworthy that the Article 140 Implementation Committee, headed by Hadi al-Amiri, recently issued a decision regarding agricultural contracts in the villages of Khanaqin and returning them to Kurdish farmers.  link

Tishwash:  Government Advisor: Adopting budget schedules has become a reality and does not affect financial obligations

 The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Tuesday, that the budget schedules have become a reality, and issuing instructions is a procedural matter that does not affect financial obligations.

Saleh said, in an interview with the Iraqi News Agency, followed by "Al-Eqtisad News", that "the legal basis for the current fiscal year 2024 is something that has been legislated and approved primarily, based on the provisions of the federal general budget for the years 2023, 2025, 2024 issued by Law No. 13 of 2023, which was published on June 26, 2023 in the Official Gazette."

He explained that "what is stipulated in Article Two/77 of the law includes the executive authority submitting the financial tables for the two fiscal years 2024, 2025 to enable the House of Representatives to approve them sequentially," noting that "this was achieved in the fiscal year 2024." He
pointed out that "the three-year federal general budget was implemented for the first time in the country, which was based in its approval on one of the articles included in the provisions of the Federal Financial Management Law No. 6 of 2019, as amended, which authorized the work of a financial plan consisting of a general budget for three fiscal years."

He added that "the legal options available to implement the provisions of the federal general budget have become more flexible for the federal financial authority, in addition to the availability of the federal financial management law itself, which allows financial transactions even if any approval of the general budget formalities is delayed in principle, especially allowing continued spending or disbursement on investment projects approved in the three-year general budget as ongoing projects, as well as operational spending, or any financial transactions stipulated in the three-year general budget law."

He added, "Despite this, the adoption of the financial tables for the current fiscal year 2024, which were approved by the House of Representatives earlier this year, has become a reality, and issuing instructions for their implementation is a procedural matter that does not affect the obligations of the fiscal year itself, as these instructions are in all cases consistent with the emerging financial transactions when issued."

He added that "the Ministry of Finance had announced earlier this month the issuance of financial bonds (achievement bond) as a source of financing for the budget by borrowing from the local financial market worth 1.5 trillion dinars," stressing that "spending on operating expenses such as salaries, pensions, social care, debt services, and others is ongoing, in addition to the continued financing of ongoing investment projects and those under implementation."

He pointed out that "all of these activities are financial activities in which spending has not stopped, which is consistent with the legal work rules that came with the three-year federal general budget, with high flexibility, transparency, and governance."

He noted that "the instructions for implementing the general budget schedules for the fiscal year 2024 will touch upon some of the developments and partial financial transactions that have been newly created or adapted, and not the faculties of public finance, and that the financial activity in the country with its three pillars: revenues, expenditures, and deficit management is proceeding in a consistent and harmonious manner and in accordance with the objectives of the three-year general budget law, and that the executive and legislative authorities are in continuous communication and high coordination to ensure the achievement of public interests without interruption   link

Mot: . Happy Tuesday everyone

Mot: .... Nuttning Better -- HUH!!!! 

Seeds of Wisdom RV and Economic Updates Tuesday Morning 7-30-24

Good Morning Dinar Recaps,

EU and Singapore finalise Digital Trade Agreement

The European Union (EU) and Singapore have successfully concluded negotiations for a landmark Digital Trade Agreement (DTA), an initiative aimed at setting global standards for digital trade and cross-border data flows.

On 25 July 2024, the European Union (EU) and Singapore successfully concluded negotiations for a landmark Digital Trade Agreement (DTA), an initiative aimed at setting global standards for digital trade and cross-border data flows.

This agreement, the first of its kind for the EU, complements the existing 2019 EU-Singapore Free Trade Agreement (EUSFTA) and shows deepening economic relations between the two regions.

The DTA is designed to facilitate digitally-enabled trade in goods and services, ensuring that data flows across borders without unjustified barriers.

It provides a framework that guarantees consumer trust, predictability, and legal certainty for businesses, especially small and medium-sized enterprises (SMEs).

This agreement also includes rules on spam and cybersecurity, reinforcing the EU and Singapore’s commitment to a secure digital environment (Trade) (EURAXESS).

European Commission Executive Vice-President Valdis Dombrovskis and Singapore’s Minister-in-charge of Trade Relations Grace Fu announced the conclusion of the negotiations, highlighting the agreement’s importance.

They emphasised that the DTA not only reflects the growing digital economies of the EU and Southeast Asia but also their shared commitment to maintaining open, competitive, and fair digital markets.

The agreement is part of the EU’s broader strategy to update digital trade rules globally, as seen in recent digital trade chapters with the UK, Chile, and New Zealand.

The EU and Singapore will now proceed with their respective domestic procedures to formally sign and conclude the DTA.

The deal is expected to enhance the digital transformation of both economies, fostering innovation and providing new economic opportunities.

It also aligns with the EU’s Indo-Pacific strategy, aiming to strengthen ties with key partners in this region.

In conjunction with the DTA, the second Trade Committee meeting under the EUSFTA took place, co-chaired by Minister Fu and Executive Vice-President Dombrovskis.

They noted the strong trade relations between the EU and Singapore, with annual trade in goods and services surpassing €130 billion in 2022.

The meeting also covered bilateral cooperation in areas like the green economy and discussed recent global economic developments, including issues at the World Trade Organisation (WTO).

The EU-Singapore Digital Partnership, launched in February 2023, laid the groundwork for this agreement.

This partnership included Digital Trade Principles aimed at facilitating the free flow of goods and services while upholding privacy and data protection standards.

The Digital Partnership and the DTA together represent a significant advancement in the EU’s efforts to lead in global digital governance.

The formal signing and implementation of the EU-Singapore Digital Trade Agreement will further strengthen economic ties and provide a model for future digital trade agreements worldwide.

The agreement is expected to be fully operational by mid-2025, providing a boost to digital commerce and innovation in both regions.

@ Newshounds News™

Read more:  Trade Finance Global 

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World Economic Forum document on “Decentralized and Non-Traditional Payment Schemes” cites Ripple as an example of an alternative rail for traditional payment systems 🔑

“If usage of the Ripple protocol were to expand to other banks, it could be EASILY used for real-time payment and settlement BETWEEN these institutions with NO automated clearing house or correspondent banks required.”

@ Newshounds News™

Read more:  Twitter

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TRUMP'S PLAN IS TO DOLLARIZE THE WORLD THROUGH STABLECOINS

"This past Saturday, former president Donald Trump addressed the Bitcoin 2024 conference in Nashville, Tennessee, expounding upon the crypto and bitcoin policies likely to be implemented as part of a likely future Trump administration. 

Speaking in front of a banner emblazoned with the logo of Xapo bank, an institution which hopes to serve as a global bridge between bitcoin, the U.S. dollar and stablecoins, Trump’s speech revealed a policy vision that would integrate those three in order to “extend the dominance of the U.S. dollar to new frontiers all around the world.”

"Talk of a threatened dollar has been circulating for years, with the petrodollar system now having ended and increasingly influential power blocs seeking alternatives to the dollar as a reserve currency. However, Trump – per his recent speech – seems poised to employ bitcoin as a sink for out-of-control U.S. government debt and to unleash the expansion of digital dollar stablecoins, which are already quietly dollarizing numerous countries in the Global South as the consequences of Covid-era fiscal policies continue to decimate the purchasing power of the 99% globally."

 "Trump promised, among other things, to “create a framework to enable the safe, responsible expansion of stablecoins […] allowing us to extend the dominance of the U.S. dollar to new frontiers all around the world.” He then asserted that, as a result of his future administration’s embrace of dollar stablecoins, “America will be richer, the world will be better, and there will be billions and billions of people brought into the crypto economy and storing their savings in bitcoin."

@ Newshounds News™

Read more:  Bitcoin Magazine

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News, Rumors and Opinions Tuesday AM 7-30-2024

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 Tues. 30 July 2024

Compiled Tues. 30 July 2024 12:01 am EST by Judy Byington

Global Currency Reset:  (Rumors/Opinions)

Tues. 30 July 2024 Wolverine: “We’re in for a magnificent week. We’re going to get some good news today.”

Sun. 28 July 2024 Wolverine Special Live Chat:

 “Looks like this is the week we have been waiting for. I am inundated with much intel coming through and it all lines up, and none of these sources know one another. So, this looks like it is definitely coming.   Received news from the leader of the Pentecostal and all the documentations are now about to be finished, they have to do documentations, and at last, the process has commenced, and by 31st will be able to hand physical money to the leaders, and I hope this happens as this platform has been on a roller coaster!

I will read this out what I received a few hours ago: “Welcome to the new era, with quantum cards for financial transactions, and also for the rate access to exclusive QFS without need for banks according to reports, this Sunday from 1800 hours, Zurich time payment notifications can begin. In Brazil – it will be early in the afternoon and expectations point to notifications today and payments starting on Monday for T2 and T3 title holders and then notifications for managers of spreadsheets of T4 operations, starting on Tuesday, July 30th.  None of this gets confirmed, as things can change, but at the moment it is a high possibility that this Intel is 100% real. 

Another country in Asia I cannot name, now says their platform is completely liquid, and are now on the verge of releasing funds to members – and that is 100% according to the source in that platform, and again confirmed last night.  

The Precatorious group, by mid-week, will be able to release funds to its members, as they are now liquid, having spendable money. Obviously, everything is a process, and those funds should be released to its members.

Also receiving a lot of intel from Brazil looks like they are waiting for this to be released for the end of the month.  We are looking by the 27th, which is already your 27th, that things should start, and then they are looking then from 27th onward to the end of the month. to the 31st of the month we should finally expect what we have been expecting for a long time.

Regarding me, I have to go soon, waiting to get the call to go.  I must leave, having to do something important, and I cannot tell you what it is or where I am going.  I will be out of here. You will only hear an opera from me.  I will leave the room with our beautiful Carpathia and Shelby to look after this channel. I do need to fly off, but you will see me during the get together.  I will be under NDA, maybe I can speak with you, but not about the RV.  

I thank each of you for supporting me for a long time. It has been quite a challenge and journey and has not been easy. Hoping anytime this week the opera will be released. 

I hope and pray anytime this week we will shout freedom ourselves.

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Sun. 28 July 2024: Masters of GCR/RV: A Deep Dive into Tiered Redemption, the Golden Age of QFS, and the Impact of Zimbabwe Dollar, Iraqi Dinar, Vietnamese Dong, Tier 4B, Tier 5, and NESARA GESARA Act – amg-news.com – American Media Group

Global Financial Crisis:

Mon. 29 July 2024: Urgent Financial Alert: US Debt Clock Surge and the Explosive Dollar to Silver Ratio You Need to Know About – US National Debt Just Broke $35 TRILLION for the First Time Ever – $103,827 Debt per US Citizen (VIDEO) – amg-news.com – American Media Group

Mon. 29 July 2024: The US national debt – the total amount of Treasury securities – rose to $35.00 trillion, according to the Treasury Department on Friday (rounded to the nearest billion: $34.998 trillion). (Wolf Street)

BRICS Announces Plan to Ditch SWIFT, Create Alternative Financial System – Tekedia  https://www.tekedia.com/brics-announces-plan-to-ditch-swift-create-alternative-financial-system/

The last bank has left Wall Street https://www.dailymail.co.uk/yourmoney/banks/article-13393117/last-bank-Wall-Street-luxury-living.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Mon. 29 July 2024: JP Morgan will be the last bank to declare BK. They are one of the primary owners of the FED. They’ll absorb smaller banks first, then ultimately collapse – as will fiat. …General klee, Liberty Lounger Extraordinaire

Mon. 29 July 2024: XRP Poised to Take Over As Russia Plans SWIFT Replacement for BRICS, Times Tabloid – Latest Cryptocurrency News, Bitcoin (BTC) News, Ethereum (ETH) News, Shiba Inu (SHIB) News, Ripple’s XRP News: https://timestabloid.com/xrp-poised-to-take-over-as-russia-plans-swift-replacement-for-brics/

Russia ATMs Down. https://news.online.ua/en/large-scale-cyber-attack-of-diu-russians-cannot-withdraw-cash-from-atms-sources-882574/

Under a new law US Banks will report Russian Assets for eventual forfeiture.

Central Bank of Nigeria sells $148 million in Forex to authorized dealers: https://www.ghanaweb.com/GhanaHomePage/business/Central-Bank-of-Nigeria-sells-148-million-in-forex-to-authorised-dealers-1942592

Mon. 29 July 2024 Cyber Attack on Russian Banks Causes Disruption: https://thecyberexpress.com/cyberattack-on-russian-banks-cause-disruption/

Read full post here:  https://dinarchronicles.com/2024/07/30/restored-republic-via-a-gcr-update-as-of-july-30-2024/

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

Jeff   Article:  "Oil MP rules out oil and gas law" I've been telling you guys the oil and gas law has been outstanding since 2005.  Quote:  "This law has been facing political dispute since 2005."  There it is confirmed for you in print...That's because this law is simply waiting on the rate to change.  It requires Iraq to have a tradable internationally recognized currency.  That's it...

Militia Man  Progress has been intense because there's some political opposition.  I think the US Treasury, Federal Reserve, Central Bank of Iraq, Al-Sudani...have been working to benefit the Iraqi citizens.  There's been blowback...Iraq is not alone in having pressure... Unfortunately corruption has been a problem for many years.  Nothing new.  But that's being changed so now it's getting more intense...

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Currency Profit Trends for 2nd Half of 2024

Edu Matrix:  7-30-2024

Currency Profit Trends for the Second Half of 2024—Gold—Bitcoin—ZiG—HTG—Cryptocurrency is on the Verge of a Possible Explosion Due to Congress's Actions.

Gold is set to continue increasing due to global financial uncertainty, and Haiti's currency continued to hold even during the gang violence, which is now hopefully over. Currency News; Iraq:

https://www.youtube.com/watch?v=igmxauXMKh4

Some “BRICS News” Monday 7-29-2024

BRICS NEWS: From Malaysia, Thailand and Turkey Accession to Launch of Intra-bank System

Fastepo:  7-29-2024

Over the past month, BRICS has seen significant developments, ranging from countries expressing interest in joining the bloc to the launch of an intra-bank payment system and financial system integration.

In this video, we will provide a quick update on these key events and offer a comprehensive overview of BRICS' position as of July 2024, along with the reasons why various countries are keen to join.

https://www.youtube.com/watch?v=X1q8PfFjAbs

BRICS' STRATEGIC WIN: Malaysia Joins BRICS, Russian FM Visits Malaysia As NATO Views Southeast Asia

Lena Petrova:  7-29-2024

https://www.youtube.com/watch?v=lt7sFxTbq9A

More News, Rumors and Opinions Monday PM 7-29-2024

KTFA:

Clare:  Clare: Spain signs EUR 1bn Cooperation Agreement with Iraq

29th July 2024   By John Lee.

The Spanish Export Credit Agency (CESCE) has signed an agreement with Iraq's Sovereign Guarantees Committee to enhance cooperation between Spain and Iraq.

The €1 billion agreement aims to facilitate Spanish companies in executing mutually agreed projects to support the development of Iraq's private industry under CESCE's coverage.

The agreement underscores the commitment of both countries to boost trade, develop business lines, and provide access to Spanish technology and expertise for large-scale projects across various sectors.

CESCE will support the export of equipment, industrial plants, and production lines for key industries in Iraq. The Iraqi government will provide sovereign guarantees for the financing of these contracts, ensuring legal and economic security for the transactions and encouraging investment.

The agreement was signed at CESCE's headquarters by its Executive President, Fernando Salazar, and Mohammed Sahib Al-Darraji, Technical Advisor to the Iraqi Prime Minister, in the presence of Iraqi Ambassador Salih Husain Ali.

This move aligns Spain with countries like Japan and Italy, which have also signed cooperation agreements with Iraq to strengthen economic and commercial ties.   LINK

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Clare:  Austrian Company wins Licence for Compliance Certificates in Iraq

29th July 2024 By John Lee.

The Iraqi Ministry of Planning signed a contract with Austrian company TÜV Austria, granting it a license to inspect and issue compliance certificates for goods imported into Iraq.

The contract was signed by Dr. Hussein Ali Dawood, head of the Central Organization for Standardization and Quality Control (COSQC), and Firas Mueed Hassan, the company's authorized representative in Iraq.

Dr. Dawood emphasized the importance of this partnership in ensuring the quality and safety of imported goods, which will benefit Iraqi consumers. He highlighted that TÜV Austria operates in several countries, including Iran, and this collaboration aims to strengthen economic and trade relations with Austria.

 Austrian Ambassador to Iraq, Dr. Andrea Nasi, who attended the signing ceremony, noted that the partnership will aid Iraq's recovery by ensuring the import of quality goods and streamlining import procedures, thereby supporting the Iraqi market.   LINK

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

Jeff   Did you know the US troops are going to start getting removed in the month of September?  Did you know Iraq will finish their accession to the World Trade in August? ...They still have 150 laws that need to be done.  They have a whole bunch of projects they need to start...The budget is not published in the Gazette...Did you know completing and implementing the reforms is a World Trade requirement but yet they're going to finish their accession in the month of August?  ...everything is waiting on this right here [the budget]...

Mike Bara  [via Judy Byington]  The word I have is that Thursday night 25 July 2024, the US Treasury told Iraq that if they didn’t revalue their currency per the agreements “immediately,” UST would force the issue. Iraq responded that they were holding up because of concerns about some smaller banks that they suspected were doing business with the Iranians. They are determined that no RV funds make their way to Iran, because the two countries are historic enemies. UST responded by seizing the 5 banks, consolidating them into a single, manageable entity, and pushing the RV through. ...Sat. 27 July 2024 the Central Bank of Iraq made the announcement regarding this transaction. As far as I know, this is the last hurdle to the revaluation.

TNT:

With a grand celebration attended by dignitaries.. The opening date of the "architectural masterpiece" of the Central Bank is revealed - Urgent

A responsible source in the Central Bank of Iraq revealed, today, Monday (July 29, 2024), the imminent opening of the bank’s new building in the center of the capital, Baghdad.

The source told Baghdad Today, "It is scheduled that at the end of the current year or the beginning of the new year at the latest, the Central Bank building will be opened as the first architectural masterpiece with a height of (172) meters and includes (38) floors, including offices, meeting rooms, and fortified storage areas for money and gold, in addition to celebration halls and various theaters."

The source, who requested anonymity, added, "The opening of the Central Bank building will be accompanied by a very large celebration attended by senior officials in the Iraqi state, in addition to representatives of embassies and diplomatic missions. Moving the bank to this building will also ease traffic congestion in the Rashid area and nearby areas."

Work began on the new Central Bank building in 2018, designed by the late Iraqi architect Zaha Hadid. link

Banks Are About To DUMP BILLIONS IN DEBT ONTO THE MARKET! So Who Is Buying?

Greg Mannarino:  7-29-2024

https://www.youtube.com/watch?v=hq_T6kZduXw

Seeds of Wisdom RV and Economic Updates Monday Afternoon 7-29-24

Good afternoon Dinar Recaps,

Worldwide, People Reject the Central Bank Digital Currency

"Do people want central bank digital currencies, better known as CBDCs? Countries that have experimented with or launched digital versions of their respective currencies have witnessed little fanfare for these endeavors. Put simply, they are not appealing to the general public. 

Yet governments are still foisting them onto their populations, perhaps because they might be the greatest surveillance tool known to man."

"At the onset of the coronavirus pandemic, the Bahamas became the first nation in the world to issue a central bank digital currency. Whether it was out of fear that touching physical cash would result in COVID is unclear.

But the Caribbean island made history nevertheless by unleashing the Sand Dollar digital currency. It maintains two forms: retail and wholesale. The former allows consumers to utilize the CBDC, while the latter is solely dedicated to financial institutions."

"Now, about four years after the Sand Dollar’s introduction, it accounts for less than 1% of the money in circulation as acceptance and usage by businesses and consumers remain limited.

Additionally, digital wallet values tumbled to $12 million in the first eight months of last year (the latest data), down from $49.8 million in the same period a year ago."

"China became one of the world’s largest economies to introduce a central bank digital currency, known as the digital yuan or e-CNY. It had been years in the making, and because the Asian powerhouse is a hyper-digital location, officials had high expectations and believed their communities would ebulliently embrace the e-CNY. Today, there is very little action in the world of CBDCs."

"INDIA'S CBDC – the digital RUPEE – has experienced a decline in usage. Transaction rates had been solid in the months following its launch, mainly because the country’s banks had disbursed employee benefits in CBDC units. However, more consumers and merchants have shrugged off the authoritarian digital payment “innovation” throughout 2024."

"With growing pushback, central banks have modified their expectations. According to a 2023 Business of International Settlements survey, the number of central banks that are very likely to issue a retail or wholesale CBDC within three to six years has diminished significantly from the 2022 survey."

"The Atlantic Council maintains a CBDC tracker, which shows that 36 countries are in the pilot phase. Thirty are still in the development stage, and 44 are actively researching a central bank digital currency. Seventeen are inactive, while two have been canceled.

 What about the United States? The Federal Reserve insists that it is several years away from putting together a CBDC. Republican lawmakers have introduced legislation to put the kibosh on its creation. Former President Donald Trump and independent presidential candidate Robert F. Kennedy, Jr. pledge to ban the formation of a CBDC."

@ Newshounds News™

Read more:  Currency Insider

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Indian Expert Says BRICS, SCO May MERGE in Five Years

" BRICS (Brazil, Russia, India, China, South Africa) may merge with the Shanghai Cooperation Organization (SCO) within the next five years, giving birth to a stronger entity with a more meaningful role, Robinder Sachdev, president of the New Delhi-based analytical center, the Imagindia Institute, told TASS."

"Both BRICS and SCO are initially founded by China and Russia. Many big picture goals of both organizations are same. It is necessary for both organizations to have very different roadmap in future. Otherwise, I have said many times that it is now time to consider merging of the SCO and BRICS into a single organization."

""If the BRICS countries work together strongly on some common agenda then BRICS can have an important role. If BRICS becomes a strong organization, then it can play very important role in building the New World Matrix of the 21st century," he stressed.

"BRIC was established in 2006 by Brazil, Russia, India, and China. In 2011, South Africa joined the group, adding the S to the acronym."

"Set up in 2001 in Shanghai, the SCO initially included six countries, namely Russia, Kazakhstan, Kyrgyzstan, China, Tajikistan, and Uzbekistan. India and Pakistan joined in 2017. Iran was admitted to the organization at the SCO virtual summit in early July.

@ Newshounds News™

Read more:  TASS

~~~~~~~~~

XRP News Today: Ripple-Led $1.5 Billion Token Flood to Hit Market in August

August is a major month for crypto token unlocks, with nearly $1.5 billion worth of tokens hitting the market.

Ripple leads the pack with a $609 million XRP unlock, followed by Avalanche and Wormhole.

Numerous other projects, including Sui, dYdX, ZetaChain, ImmutableX, Aptos, The Sandbox, Starknet, and Arbitrum.

XRP This morning $0.61 up 0.54%

@ Newshounds News™

Read more:  Coinpedia

~~~~~~~~~

Swiss regulator FINMA targets stablecoin issuers in new proposal

As stablecoins continue to gain traction globally, regulatory initiatives such as FINMA’s guidance are likely to influence policies in other jurisdictions.

In a move aimed at bolstering regulatory oversight and mitigating financial risks, the Swiss Financial Market Supervisory Authority (FINMA) has proposed new guidelines for stablecoin issuers. The proposal comes amid growing concerns over the potential impact of stablecoins on regulated institutions and the broader financial ecosystem.

Stablecoins — digital assets linked to the value of traditional currencies or other assets — have experienced increased adoption. However, their rapid growth has also prompted global regulatory concerns due to potential illicit activity and misuse.

In its guidance issued on July 26, FINMA emphasized that stablecoin issuers must be subject to the same Anti-Money Laundering (AML) obligations as traditional financial institutions. This includes verifying the identity of stablecoin holders and establishing the identity of beneficial owners.

In addition to AML compliance, FINMA explained how stablecoin issuers can operate without a banking license if they meet certain conditions. It claims that these conditions ensure depositors are protected, and issuers must have a bank guarantee in case of default.

While FINMA claims its measures boost depositor protection, they do not match the security of a banking license. Still, the regulator is committed to mitigating default guarantee risks and ensuring stablecoin issuers meet robust standards to safeguard customers.

The stablecoin sector has experienced exponential expansion in recent times, reaching an unprecedented market capitalization in 2023. In response, global regulators are hastening to establish guidelines for this rapidly evolving sector.

According to the “PwC Global Crypto Regulation Report 2023,” at least 25 countries, including Switzerland, had implemented stablecoin regulations or legislation by the year’s end.

@ Newshounds News™

Read more:  Coin Telegraph

~~~~~~~~~

Malaysia sends application to Russia to join BRICS — PM

Lavrov promised that as the BRICS president Russia will help Malaysia promote its interest to the partnership with the association

TOKYO, July 28. /TASS/. Malaysia has sent an application for BRICS membership to Russia, which is currently holding BRICS presidency, Malaysian Prime Minister Anwar Ibrahim said.

"Malaysia has sent a letter of application to join the (BRICS) organization to Russia as the BRICS chairman, besides expressing openness to participate as a member country or strategic partner," the BERNAMA news agency quoted him as saying.

Earlier on Sunday, Anwar Ibrahim met with visiting Russian Foreign Minister Sergey Lavrov. According to the Malaysian prime minister, the conversation focused on Malaysia’s application to join BRICS, which, in his words, will have a considerable potential for both sides.

Anwar and Lavrov also discussed "the current situation in Palestine, with Malaysia emphasizing the urgent need for a permanent ceasefire and rapid humanitarian aid in Gaza, as well as Palestine’s acceptance as a full member of the United Nations," the agency said. "Regarding Ukraine, Anwar also called for dialogue and discussion as the means to resolve the conflict."

Lavrov promised that as the BRICS president Russia will help Malaysia promote its interest to the partnership with the association.

@ Newshounds News™

Read more:  TASS

~~~~~~~~~

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A Former Fed Official Finally Tells The Truth About Inflation…

A Former Fed Official Finally Tells The Truth About Inflation…

Notes From The Field By James Hickman / Simon Black 7-29-24

My sister used to be a reporter for Fox News based in south Florida and would regularly be assigned to cover NASA press conferences.

And she’s often told me about how reporters were terrified to ask any real questions. They’re not astrophysicists and don’t understand the first thing about rocket propulsion, and most of the journalists never bothered to learn even the basics of the topic.

So, the majority of the questions were very superficial; quite simply the reporters didn’t want to embarrass themselves.

This is how the media covers the Federal Reserve. Most reporters don’t have a clue about central banking, so, not wanting to look stupid, they just sit quietly and give the Fed a pass. There’s no real scrutiny.

At the same time, Fed officials are generally in lockstep with one another; it’s not like politics where the two sides constantly chastise one another. With the Fed, there is virtually no public dissent.

Even former Fed officials who have long left the bank maintain an almost mafioso code of silence.

The end result is that no one really criticizes the Fed. And because of this, the Fed has been able to cultivate a reputation that they’re in total control of the situation… even though their track record proves the opposite.

The Fed completely failed to predict inflation in 2020 after engaging in record money printing. Then they missed the warning signs in early 2021, then misdiagnosed inflation as “transitory” in late 2021, then still failed to act until early 2022.

Yet despite such failures, the Fed is still sticking to the narrative that they know what they’re doing. And with hardly anyone challenging them, it’s been easy to maintain a veneer of omnipotence.

But Kevin Warsh broke ranks this weekend. As a former Fed governor, he is the ultimate insider… and he penned an editorial published in the Wall Street Journal on Saturday blasting many of the Fed’s decisions.

Warsh describes how, when he joined the central bank in 2006, its entire balance sheet was just $800 billion. But in order to deal with the 2008 financial shock (yet another crisis that the Fed missed), they invented “quantitative easing”, or QE.

QE was just a fancy way to say they were conjuring massive amounts of money out of thin air. Informally we could say they were ‘printing money’, though almost all of the new money was created in digital rather than paper form. They click a few buttons, and, poof, new money.

Naturally the Fed promised to eventually unwind QE and drain all of that new money out of the financial system. But they never did.

On the contrary, the Fed embarked on THREE distinct rounds of QE between 2008 and 2013, increasing the balance sheet each time. In the end, the Fed’s balance sheet peaked at $4.5 TRILLION, more than 5x its size prior to the 2008 crisis.

And they kept it at that level for years. Even by 2020, the Fed balance sheet was still around $4 trillion in size.

So much for unwinding. And when the pandemic hit, the Fed quickly pulled out its QE playbook and embarked on a fourth round of money printing… exploding the balance sheet all the way to NINE TRILLION dollars.

Warsh eviscerates the Fed policymakers for failing to see such obvious consequences and explains that there is a very clear connection between the size of the Fed’s balance sheet, i.e. the amount of money it prints, and inflation.

“The monetary base is up 60% since the pandemic. Another measure of money, M2, is up 36% in the past four years. The inflation surge in the same period-- cumulatively about 22%-- shouldn’t have been a surprise.”

“The high priests of central bank dogma might consider it blasphemy,” he writes, but “less money printing, less inflation.” Duh.

He goes on to say, “The American people are still paying a high price for the central bank’s policy error,” and that if the Fed really wants to tame inflation, they’re going to have to slash their balance sheet, i.e. unwind most of the new money that they printed.

Fat chance.

In fact, Warsh points out that the Fed has already indicated they will NOT reduce the size of their balance sheet any longer. And Peter and I both believe the Fed will soon embark on even more QE.

Why? Because the federal government has a serious spending problem. Even the government’s own budget forecasts show an additional $22 trillion in deficit spending over the next decade.

And where will the bulk of that money come from? Most likely from the Fed. They’ll launch QE5, QE6, and beyond, to print the trillions and trillions of dollars that the US government will need to make ends meet in the coming decade.

Sure, it’s possible that the government gets real… that they cut spending, eliminate some entitlements, slash regulations, abandon idiotic green initiatives, and stop standing in the way of conventional energy.

But the window of opportunity is extremely narrow… and depends on the election this year. Plus, a lot of things will have to go right, and very little can go wrong.

So, it’s reasonable to anticipate more deficit spending, which means more Fed printing. And more inflation.

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

https://www.schiffsovereign.com/trends/a-former-fed-official-finally-tells-the-truth-about-inflation-151193/

How FED’s New Bully Tactics Are Blocking Iraq from Joining BRICS

How FED’s New Bully Tactics Are Blocking Iraq from Joining BRICS

On July 28, 2024  By Awake-In-3D

Big Banksters increase their stranglehold on Iraq to block participation in the new gold-backed UNIT currency system.

The Banksters at the U.S. Federal Reserve have intensified their bullying tactics against Iraq.

In This Article

1. The U.S. Federal Reserve’s New Approach

2. Potential Impact on the Iraqi Banking System

3. The Federal Reserve’s Three Pillars of Strategy

4. Consequences for the Iraqi Government and Economy

This escalation seems driven by a clear motive: the FED will not stand idly by and allow Iraq to join the BRICS alliance or participate in the new gold-backed UNIT currency system.

This aggressive stance threatens Iraq’s financial stability and sovereignty, pushing the country towards an economic crisis.

The Iraqi government now faces a pivotal moment. It must rise to the challenge and stand up to the FED’s coercive measures to protect its economy and pursue its independent financial path.

The U.S. Federal Reserve has adopted a new, stricter policy toward Iraq, potentially creating an increase the dollar’s value against the dinar.

Economic researcher Ziad Al-Hashimi warns this shift will place significant pressure on Iraq’s banking system and economy.

Iraq officially expressed interest in joining BRICS in November 2023. The Iraqi Prime Minister, Mohammed Shia Al-Sudani, during a meeting with representatives of the Iraqi community in Russia. Photo: PMO

The U.S. Federal Reserve’s New Approach

Al-Hashimi reveals that the U.S. Federal Reserve’s latest strategy aims to curb any attempts by Iraq to stabilize its economy without adhering to Federal regulations.

The move is seen as a response to Iraq’s potential alignment with the BRICS alliance and participation in the new gold-backed UNIT currency system.

The Banksters at the US Federal Reserve have escalated their tactics, not wanting Iraq to break free from their influence.

Potential Impact on the Iraqi Banking System

The new strategy involves continued sanctions on certain Iraqi banks, ensuring these institutions remain banned from dollar transactions.

The Iraqi Stock Exchange Building

This action threatens the stability of Iraq’s banking system, limiting its ability to function efficiently and putting additional strain on the national economy. The FED’s bullying tactics aim to prevent Iraq from gaining financial independence and participating in the BRICS alliance.

The Federal Reserve’s Three Pillars of Strategy

The Federal Reserve’s strategy consists of three main pillars:

• Continuation of Sanctions: Previous sanctions on specific banks will remain, indefinitely banning them from dollar trading.

• Closure of Non-compliant Banks: Banks violating federal regulations regarding money laundering and dollar smuggling will face closure.

• Exclusion of Government Intervention: The Iraqi government will be prevented from intervening in dollar-related matters, leaving this responsibility solely to the Central Bank of Iraq.

This strategy aims to tighten control over Iraq’s financial dealings and mitigate political influences from the Iraqi government.

The FED’s actions are a clear attempt to ensure Iraq does not join the BRICS alliance or adopt the gold-backed UNIT currency system.

Consequences for the Iraqi Government and Economy

The Federal Reserve’s new approach places the Central Bank of Iraq in a precarious position, as it struggles to balance internal pressures with the need to comply with U.S. regulations.

This situation will lead to increased demand for the dollar, causing a devaluation of the Iraqi dinar.

The Iraqi government faces a critical decision: to comply with the Federal Reserve’s stringent measures or to challenge these tactics and seek alternative alliances, such as joining the BRICS and adopting the gold-backed UNIT currency system.

It’s time for the Iraqi government to stand up to the FED and assert its financial independence.

The Bottom Line

The U.S. Federal Reserve’s intensified approach toward Iraq threatens to destabilize the country’s economy.

With significant implications for the Iraqi dinar and the banking system, the Iraqi government must navigate these challenges carefully. Whether to stand up to the Federal Reserve or find a way to comply will shape Iraq’s economic future.

The Banksters at the US Federal Reserve will not easily allow Iraq to join the BRICS alliance, but the Iraqi government must take a stand for its sovereignty and economic well-being.

Contributing Source: https://burathanews.com/arabic/economic/448951

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog

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https://ai3d.blog/how-feds-new-bully-tactics-are-blocking-iraq-from-joining-brics/

“Tidbits From TNT” Monday 7-29-2024

TNT:

Tishwash:  Manipulating budget tables is a scandal waiting to break out

The issue of tampering with the budget schedules sparked great controversy in the House of Representatives, after approximately 2 trillion dinars from the budget were lost in a dramatic manner.

The General Secretariat of the Council of Ministers sent a letter to the House of Representatives to inquire about the manipulation occurring in the budget tables, as it was stated in the letter, “After examining the printed tables attached to the Parliament letter signed by the ( acting) Speaker of the House of Representatives, it was revealed that there are fundamental differences in them compared to the sent copy.” From the Council of Ministers and contrary to the text of the parliamentary decision.

Member of the Parliamentary Finance Committee, Representative Jamal Kujar, confirmed that the manipulation occurred after voting on the budget tables in Parliament. 

He pointed out in a press statement that it was not known who was the party that tampered with the schedules, calling for an investigation to be opened into the matter.

The House of Representatives held its twenty-seventh session, headed by Mr. Mohsen Al-Mandalawi, Acting Speaker of the House, today, Monday, and in the presence of 199 deputies. The House of Representatives voted last May 18 on the schedules of the federal general budget law.

It seems that suspicions of losing the amount revolve around the Finance Committee as well as the Presidency of the House of Representatives.

For its part, the Finance Committee in the House of Representatives vacated its space regarding the issue of tampering with the budget tables for the current year.

Deputy Chairman of the Parliamentary Finance Committee, Ahmed Mazhar, told Al-Ma'louma Agency, “The committee is far removed from the issue raised regarding tampering with the budget tables. It discussed the tables according to the CD sent by the government and then submitted it for a vote to the Presidency of the House of Representatives.” 

He added, "The government's raising of the issue of tampering with 2 trillion dinars in the budget tables, as it claims, is very surprising."

He explained, “If there is tampering with the budget tables, then the Presidency of the House of Representatives can be questioned.”

In order to clear its name, Parliamentary Finance formed an investigative committee on the matter, which aroused the ire of the Presidency of the Iraqi Council of Representatives.

For his part, a member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, expressed his surprise at the Parliament Presidency's objection to forming an investigative committee regarding the changes that occurred in the budget. 

Al-Kadhimi told Al-Maalouma Agency, “Forming an investigative committee is the prerogative of the Finance Committee, expressing his regret over the objection of the Presidency of Parliament to the formation of the committee that does not require approval.”

He added, "The Finance Committee is in the process of inquiring about the reason for the difference in the budget tables between the parliamentary version and the government version, noting that the committee asked the relevant authorities to reveal the manipulation of the numbers."

In addition, the representative of the State Support Bloc, Muhammad Al-Ziyadi, confirmed that signatures had been collected to include a paragraph discussing the government's claim that the versions of the budget tables were different after voting on them.

Al-Ziyadi told the Maalouma Agency, “The government sent a letter to the House of Representatives claiming that the schedules that were sent to it by Parliament after the House of Representatives voted on them differ from those schedules that it sent to Parliament.”

He added, "This book created a confused atmosphere between Parliament and the government, and parliamentary signatures were collected to include a paragraph to discuss the issue in order to determine the truth of the dispute between Parliament and the government regarding the schedules and who was the party behind it.  link

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Tishwash:  Iraq speeds up steps to join WTO

The Ministry of Trade has doubled its efforts to join Iraq to the World Trade Organization (WTO) after participating in a wide round of negotiations that pave the way for full membership. These efforts were met with widespread economic welcome, which sees that this approach will achieve a package of important achievements, foremost of which is enhancing development, building capacities, and opening the door wide to the use of the highest standards of governance, in addition to the most important factor represented by the wide openness of global markets to Iraq, the advancement of the private industrial sector, and the improvement of the local product.

According to the Minister of Trade, Athir Dawood Al-Ghariri, the recent negotiations for Iraq constitute “a qualitative event and a confirmation of what the government promised through its program to reform the economic situation, considering the private sector as an essential part and the backbone of the Iraqi economy,” indicating that “all countries are keen on Iraq’s return as a global economic player.”

In support of the recent negotiations conducted by Iraq, the Ministry of Trade also participated in the technical meetings of the UNCTAD regarding the accession of Arab countries to the World Trade Organization in Istanbul, which witnessed, according to the Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, who represented the Ministry of Trade in these meetings, discussing the outcomes of the 13th Ministerial Conference of the World Trade Organization, the process of Arab countries’ accession to the organization, and how Iraq can benefit from these experiences in its process of accession. The importance of trade in services in supporting the economies of Arab countries and enhancing their growth was also reviewed.

In the midst of this, the Prime Minister’s Advisor for Financial Affairs, Dr. Mazhar Mohammed Salih, believes that “in the midst of the changes in the international commercial and financial space, Iraq has moved to important organizational levels in the transition to a market economy to break the effects of its international isolation by engaging in a strong area of ​​economic liberalism that focused on liberalizing the areas of Iraq’s foreign trade in goods and services and the means of financing them, despite the fluctuations in its organization, as well as the development and expansion of areas of progress achieved in some financial services and improving the environment for foreign investment, which allows foreign banks to operate in Iraq and allows the transfer of capital and currency in a manner that serves Iraq’s openness to the world in the conditions of a difficult-to-handle central rentier economy.”

In a statement to the Iraqi News Agency (INA), Minister Al-Ghariri expressed his “aspiration for the fourth round of negotiations to be held during the first quarter of next year,” stressing that “this acceleration means that the negotiations are proceeding with rapid steps towards Iraq’s accession to the World Trade Organization, considering that Iraq is an important economic bloc and all countries are keen for it to return as an economic player in a multilateral system.”

In addition to the economic gains that can be achieved by opening up to the global market, the economic researcher and consulting engineer, Imad Al-Muhammadawi, believes during his interview with “Al-Sabah” that “joining has many other advantages besides opening up to global markets, represented in “enhancing development, building capacities, and opening the door wide to using governance standards in all aspects of economic activities, in addition to the most important factor, which is opening global markets to the economies of the least developed countries or what are called Third World countries, not to mention improving the financial side of the participating countries in terms of reducing financial risks and removing obstacles facing the participating countries.”

Al-Muhammadi added that joining also constitutes a factor in reducing poverty, by creating opportunities for the unemployed through increasing economic activities and developing both the private and public sectors. 

The WTO aims to ensure that foreign companies, investors and governments enjoy stability and predictability, confidence that trade barriers should not be arbitrarily raised, investment is encouraged, jobs are created and consumers can fully enjoy the benefits of competition, choice and low prices. link

Tishwash:  MP: Washington is delaying the confirmation of the withdrawal clause from Iraq - Urgent

Member of Parliament, MP Rafiq Al-Salihi, confirmed today, Sunday (July 28, 2024), that Washington is procrastinating in determining the paragraph of withdrawal from Iraq, noting that the exit of US forces is necessary to achieve the integrity of national security.

Al-Salihi said in an interview with Baghdad Today, "An important part of achieving integration in the national security system of Iraq is the absence of American forces from its lands, which we see as playing a negative role in the security scene through repeated attacks."

He added, "Washington is delaying its discussions with Baghdad in determining the withdrawal paragraph through fixed timetables, and this matter reflects America's agenda in Iraq and its attempt to remain despite the popular rejection of all spectrums and the existence of a parliamentary decision in this direction."

Al-Salihi pointed out that "the security situation in Iraq is stable and it has large forces capable of warding off terrorist threats or any other attacks," stressing that "the situation necessitates the withdrawal of American forces from the country and any manipulation or procrastination by the administration in Washington is unacceptable and the Iraqis will not remain silent about that."

The debate over the US withdrawal from Iraq has flared up again in the past few weeks, coinciding with the return of strikes and targeting of bases housing US forces in Iraq and Syria, while the US Central Command had indicated a few days ago that ISIS activity recorded during the first half of this year indicates a doubling of the number of attacks compared to last year.   link

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Tishwash:  Finance and World Bank meet to conclude "fruitful" agreements that support Iraq's development path

An important meeting was held at the Ministry of Finance headquarters today, Monday, between the Minister of Finance, Taif Sami Mohammed, and a delegation from the World Bank, headed by the Regional Director of the Middle East Department, Jean-Christophe Carré, to discuss ways to enhance cooperation in the field of economic and social development .

The ministry said in a statement received by "Mil", "The meeting's axes focused in particular on supporting transportation, railway and infrastructure projects related to the development road linking Iraq and Turkey towards the European continent, in addition to financing the Social Fund for Development programs." 

She explained that "these projects seek to improve the quality of services for citizens, enhance economic growth, and provide new job opportunities. The expected benefits of these projects include developing the road and transportation network, in addition to supporting small and medium enterprises and reducing poverty and unemployment." 

According to the statement, the two sides expressed their "optimism about the possibility of reaching fruitful cooperation agreements that would contribute to achieving sustainable development in Iraq."  

 From social media

Minister of Finance and World Bank discuss financing transportation and social development projects

Both sides expressed optimism about the possibility of reaching fruitful cooperation agreements that would contribute to achieving sustainable development in Iraq   link

Mot: .. You Goooo Girl!!!!  

Mot: Funny how this seems to Pop again and again ....