Tivon, MilitiaMan and KTFA Members Thursday Afternoon 8-11-2022

KTFA:

Samson:  The Central Bank: The cash reserve rose to 82 billion dollars

11th August, 2022

On Thursday, the Central Bank of Iraq revealed that cash reserves had risen to $82 billion, as well as an increase in its gold balance to record levels

The official spokesman for the Central Bank, Omar Asim, said in a statement reported by the official "Al-Sabah" newspaper, that the bank's reserves currently amount to 82 billion dollars

Assem added, "Iraq also advanced 10 ranks in the table of countries with the most gold, becoming the thirtieth in the world and fourth in the Arab world, as its total possessions exceeded 130 tons, after purchasing an additional 34 tons, and this came within the bank's policy to achieve stability and ability to confront Local and international economic variables

Gold is one of the most important assets held by central banks and international financial institutions, due to its acceptance at the level of international dealings   LINK

Jerry1971:  Bravo Iraq is a very rich country indeed thanks to the brilliant leadership and sincerity of Pm Kazemi to his country and people tremendous prospects for the iqd to be released in short order. IMO.   

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Samson:  About 300 Iraqi officials and ministers accused of corruption and integrity cases recover two trillion dinars

11th August, 2022

The Federal Integrity Commission announced, on Thursday, that 39 ministers and those of his rank and (241) of those with special grades, general managers and those of their rank, are among the accused in criminal cases.

She explained, during a press conference, that during the first half of this year, she considered (34,209) communications, reports and criminal cases, distributed among (8,877) communications, (10,535) reports, and (14,797) criminal cases.

It noted the recovery and prevention of wasting (1,773,380,063,273) dinars of public funds to the account of the public treasury through its deterrent and preventive measures.

The authority indicated that these amounts represent what has been actually recovered to the account of the public treasury, or those that have been revealed, or the funds that have been issued court rulings to return them, which prevented and stopped their waste.

Integrity also said that its investigations led to the issuance of (731) arrest warrants by the judicial authorities, of which (396) were executed, including (8) ministers and those of his rank, and (53) of those with special degrees, general managers and those of their rank.

Integrity revealed that, during the first six months of this year, it worked on (58) files related to fugitives wanted in corruption cases, of which (23) files were processed, including (11) files against people with special degrees, general managers and those of their rank, in addition to (104 ) Files to recover the smuggled money, in which (166) judicial decisions were issued.

She indicated that she had prepared, during the same period (9) drafts of cooperation agreements and memoranda of understanding with Iraqi, Arab and international ministries and governmental institutions, one of which was concluded.  LINK

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Sir:  IMO-Excellent news people!

All though they have many more files that will be addressed, we can see clearly they are in warp speed to get the corrupt out of the way. There have been many articles about the corruption in all areas and we can clearly see that this is a major part of the plan in order to publicly see the rate change.

I know some of you might think that this has nothing to do with the rate changing, but I beg to differ on that! Think about just how much corruption is out there, do you really think that Kazemi and his team want these rats to prosper anymore than they have been for decades, ( Absolutely not )!

That’s why the delay in changing the rate, while the other projects are put into place they are also showing the people just who’s who. Now we can see that the people are now in the streets and demanding that the corrupt be removed.

There was an article posted yesterday speaking of a 3 year budget, well what if this has been in place all along sense December 2020 when the White Papers came out. What if the budget was for 2021-2023 and a second set of books was in play! This would keep the rats hands away from a lot of new revenue due to the RI and would also explain why so many projects have been completed and still more in the works.

 Kazemi is a smart man and he has a lot of help around the world from highly intelligent people who are getting things put into place to take down a corrupt system that has been ruling us for far too long. When the time is right you will get what you are seeking, but it’s going to be World wide and not just Iraq.

We are in a good place and we are closer than you can imagine, but there’s more to be done. Soon we will wake up to a new world free of corruption and evil doers.

Prayers for those who are making this happen and double prayers for those who gave it all. 
Keep your vibrations high, it helps!  “All in my opinion of course”

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Tivon:  Someone has been paying attention. Great job. Brilliant. This is why I asked a  month or so ago for people to post more often and establish themselves so we can value more of what is put out with more detail than just half hearted complaints that help no one. And you took up that request and flew with it. Thank you Sir. This is well thought out.

These are the post I like to read because it builds on what has been firmly established over the past few months with another viewpoint I concur with that plays into the overall coverage as to why certain things were in place to ensure that the citizens do not get usurped by corrupt political figures who are looking to take advantage of the new monetary system that benefits the country and not the one who pretended to protect the citizens while at the same time stealing from them and their future.

Look at how much has been recovered already. You did a marvelous run down on the reasoning of things that I have been trying to get across for months. And you summarized it beautifully. Wow. Imo

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MilitiaMan:  Well done Sir.. Agreed.. Sadr brought more than meets the eye(s) to meetings. He wants no one with corruption on their hands to benefit from the re - instatement or re - valuation. Nor does Kahdimi. The digital transformation is going to see to that the money is being tracked and will be into the future with a high level of accuracy. The reason there were many that refused to use electronic means is exactly that, the corrupt would not want to use it. IT would expose them, well not using it exposed them as well.. imo... SMH ... lol ~ MM

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BlaqueBeauty:  Imo ….very nice   In turn, the "Minister of the Leader" who is close to the leader of the Sadrist movement Muqtada al-Sadr said in a post on social media, "The reform-lovers should prepare (to support reform) by gathering each in his governorate, and at five o'clock tomorrow, Friday, you will be rewarded with the best reward and stay until further notice." From this page, not fake pages. He attributed the reasons for the demonstrations, including what he called the anger of the corrupt, "as well as filling out legal forms to be submitted to the judiciary in order to dissolve Parliament."

Tivon:  Look at how this is unfolding. What a time to be alive. People are just not getting how close we are.

Samson:  Al-Kazemi complains that the caretaker government will remain for 9 months and calls for solving the budget issue

11th August, 2022

Prime Minister Mustafa Al-Kazemi complained, on Wednesday, that the caretaker government that he heads has remained for 9 months without being able to form a new one during this period of time that followed the early legislative elections in the country, warning at the same time that Iraq will remain without a financial budget for the year 2022, which is nearing completion.

This came in a speech to him during the opening of the cabinet session that was held today, according to a statement issued by Al-Kazemi's office.

Al-Kazemi said in the speech, "Iraq is facing a real political problem in the post-election stage, and it needs a solution, and the solution requires dialogue, wisdom, and sacrifice, as Imam Hussein (peace be upon him) sacrificed for justice, values, and religion, as well as what is required of Political leaders make sacrifices for the sake of the homeland, and for the sake of our children."

He added, "The challenges we are facing are reflected in the performance of the government and all Iraqi state institutions. This government spent 28 months, and it is unfortunate that during this period there was only a budget for 6 months, so how can the state function in the absence of a budget?"

Al-Kazemi also said, "We are going through a difficult period, and with all this we have worked to overcome many problems. There were lagging or failed projects that had been planned for many years, and we worked to revive them and turn them into opportunities for success, in rebuilding lagging hospitals and other projects related to electricity oil, gas, and alternative energy, but without a budget, people's lives will be disrupted."

He added, "We are now in the eighth month of 2022, and there is no budget, and the imbalance is not in the government, but because of the existing political situation, so how do we build schools, pave roads and build projects with the absence of political consensus on forming the government or finding a solution to the political blockage."

The Prime Minister warned that “the issue of the budget is a very serious matter,” adding that “we have a good financial abundance and we need to invest it in rebuilding infrastructure and achieving the demands of our honorable people. Good schools, reasonable roads, and effective government institutions. He pointed out that "the political dispute has begun to reflect on the service reality in the state, and therefore we must look for a solution and I call on everyone to engage in dialogue in all seriousness."

Al-Kazemi stressed that "dialogue is the only solution to solve our problems and we have no other, as for resorting to methods of media escalation, social media, spreading chaos and frustration among people, this will not help in building the modern democratic experience. We are a young democracy, and we need to act according to wisdom." and mind."

The head of the federal government addressed the Iraqis by saying, "They should know that every day a solution to the political impasse is delayed, the government is restricted, and it is in a difficult situation in which it is difficult to carry out its duties."

He explained that "the caretaker government according to the constitution, its work is supposed to be coupled with a short period and not to stay for nine months without a new government, and it is unreasonable for the government to remain tied, and the constitutional deadlines have been exceeded, and we are required to remain a caretaker government; this is not possible."

Al-Kazemi pointed out that "the political blocs must cooperate with the government to find a solution to the issue of the budget, and we are ready to help and play our role as an executive authority in accordance with the law." He stressed that "there must be real political support for the government instead of political differences," noting that "there are parties that always turn the conflict towards the government, and the government has nothing to do with it, as we are not a party to the political conflict."

Al-Kazemi said, "We went through an ordeal during the past two or three weeks, and, thank God, the crisis was dealt calmly, and we succeeded in not having Iraqi blood flowing on Iraqi soil, and we will continue with this approach." He also warned that, "Those who think that this government is working to strain the atmosphere are mistaken.

We have said since the first day: We are ready to hand over power to any elected government, and at the moment the political blocs agree, we are ready. What is the talk about the government or the Prime Minister working? For obstructing the formation of the government or the solution is nothing but nonsense; who is the one who accepts to stay in these difficult circumstances?”

Al-Kazemi continued by saying that "the story is not a position story, but a success story, either we are successful and accept the challenge, or the political blocs must accept their role to find a solution to the blockage, in order to move towards a bright Iraq with an opportunity for hope, and we must be optimistic, and not a solution is through dialogue.

The Prime Minister concluded his speech by saying that "we presented an initiative and it was approved by most of the political blocs, and we are still working to create an opportunity for dialogue. We must preserve our democratic system, and we must correct if there are wrong paths or there are paragraphs in the constitution, correction or change." There must be consensus on it from all the Iraqi people."

LINK

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Tivon: I see what Al-Kazemi is doing. If we are going with what he is saying along with Mazhar Muhammad Saleh if they form a general government and budget it will be off the heels of dissolution thus the corruption would have been dealt with in Parliament and HOR. Because everyone knows it will not be the CF(Coordination Framework) .

So we should feel very comfortable. Why? They (Federal Integrity Commission) already identified 300 corrupt officials. And the funds they stole. (Post 20) Not t9 mention they also seized and recovered properties belonging to the Municipality which involved another billion Dinars in value. As I have stated before the EFSL was designed to clean out corruption. 

Because I always said the funds left over from the EFSL can be thrown in with any budget they happen to come up with. Ask yourself why would Al-Kazemi push for a budget at the end of the year?

Jamal Cougar stated it takes about a couple of months to get through the process of creating a budget. But we know the citizens were already promised they would see the changes they want very soon before August is done with.

Al-Kazemi will use that time to bring forth reforms as a interim emergency government. And he will solidify his reputation, legacy, and authority. Al-Kazemi knows he only needs the oil surplus to achieve or meet the Citizens Entitlements which is tied to the HCL/Oil & Gas Law.

Everything else can be dealt with accordingly. Keep in mind they have gold, oil, and hard currency reserves to support the rate if they was to release one before they form a GOI or present a budget. Please remember that. 

Also Keep in mind the post from yesterday (Post 114) as to what the new budget will come with if they happen to pass one. Because I think they already studied it and came to an agreement as to the components in it.

Especially the emergency surprise funds added as a bonus. So even if they form a government and pass a budget it wouldn't matter because Al-Kazemi only has to announce or present his transitional interim gov and can release the new rate afterwards.

So he isn't saying he needs the budget to finish what he is already doing. It will be needed once he no longer needs to use the EFSL.

Remember they were only going to put 51 trillion in the 2022 budget given how little time was left in 2022. And since the transitional gov is temporary I am positive funds from that will be transferred over to a general budget. The EFSL was always going to be temporary. So this article is of no surprise. Imo

Tivon and KTFA Members "100% Excited About the 15th" 8-10-2022

KTFA:

Clare: Government official: Iraq is not thinking of floating the currency at the moment

10th August, 2022

A government official confirmed, on Wednesday, that Iraq is not considering floating the currency currently, indicating that the flotation at the present time will threaten the collapse of the country's economy.

The official said in an interview with Shafaq News Agency, "The rentier nature of the Iraqi economy makes it difficult to float the Iraqi currency, and therefore Iraq is not currently thinking of floating it."

The official, who asked not to be named, added, "Access to hard currency in Iraq comes mostly from our oil exports, which is in the hands of the government, and that the local market is circulating for it and does not bring this currency, and therefore its flotation will threaten the Iraqi economy with collapse because it will increase demand for it in exchange for limited supply."

He also indicated that “floating the currency without diversifying the economy will have negative repercussions on the purchasing power of the Iraqi consumer, especially the middle and poor groups,” adding that, “the float is on the table with the government in the long run because of its importance in stimulating the production process in the country.”

It is noteworthy that some officials talk from time to time on the necessity of floating the currency and liberalizing it to preserve the hard currency reserves with the Central Bank.  

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Tivon:  Say what? The government is not thinking of floating the currency in light of every conceivable reason to do exactly that for the same reasons they said it's not feasible? You don't say. Do you see how they undermine the Iraqis when they were already told by the CBI and their news media to expect their currency to float soon?

Do you guys know what a rentier economy is? A rentier economy depends on government policy, it is particularly susceptible to plutocracies, oligarchies, "crony-capitalism," and other forms of corruption, leading to public mistrust in big business, government, and the social/economic elite.

Guys, he's referring to a old regime that has already forfeited over their power to the demands of the citizens where they are no longer at the mercy of a small select proxy who create economic conditions by divesting, siphoning, pillaging, and plundering communities into the ground because of their greed.

Keep in mind Al-Kazemi didn't announce his cabinet yet. Also keep in mind that he can do the reverse by brining purchasing power first or do both as an interim gov.

These were the same people trying to use the USD rate as a political tool to gain the trust of the citizens to make them think voting in the Coordination Framework would be of their best intrest simply by what the reduction represents. Which is "Purchasing Power". Something we know Al-Maliki did not want as it goes against the reason he wants power in the first place which is contingent upon the Iraqis remaining poor.

 Another excuse he brought in this article is the hard currency reserves and its so called limited supply. Remember, the operandi of the government is to convince you of scarcity. I am not even going to mention the gold reserves. To easy.

Let's just go back on what Mazhar Muhammad Saleh stated when they mentioned that the hard currency reserves are nearly covered. Which protects against inflation and market fluctuations. Hell, he didn't even mention the EFSL. Which was specifically designed to address all the areas of concern.

All provision of the EFSL was initiated on July 17th. Which is aimed at reducing poverty. Creating financial stability. Achieve food security. Along with social protection.

One example to sum up everything is to look at Post-57. A protest was diverted in an area where electrical issues were of concern for the people in the Kanaan district. What did one man do that the "The Government" couldn't provide that prevented demonstrations for basic needs? He addressed a economic issue outside of government intervention without waiting or hesitating to issue  direct assistance by going directly to that specific community that the local government neglected.

Not only that they also addressed the water problem in that same district through security forces. They said the dangers and threats of displacement due to droughts have disappeared. He didn't come up with an excuse by referring to limited resources and the lack of funding. 

Do you see why it's important to focus on the men in the field? The ones with boots on the ground. The ones who are directly interfacing with the people. That is what this entire investment has morphed into ever since Al-Kazemi took up the mantel to address the pervasive issues facing the citizens of Iraq.

And that's the same attitude Abdul Karim Shammari brought to the local Kanaan district and assisted those people without giving them a thousand reasons as to why it can't be done. Why? Because more than likely they been hearing this type of rhetoric for years.

 I wish I could say more bit I am pressure for time. We are in a season of action. No more talking. You are seeing it as they say it if it needs to be uttered to reassure the people that they will no longer be abused. And that their needs will be met. Imo  LINK

Post 57:  Postponing massive demonstrations near Baquba after a relative improvement in the supply of electricity 

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Clare:  REMEMBER WHAT FRANK SAID ON THE LAST UB2B:

"I BELIEVE THAT IT WILL BE KAZEMI THAT MAKES THE ANNOUNCEMENT TO THE CITIZENS, RIGHT AFTER HE ANNOUNCES HIS GOV’T … I MEAN, FRACTIONAL SECONDS AFTERWARDS"....FRANK26

IN FRANK'S OPINION AND imo

"Right now we are at where we want to be. So let things unfold from here and stay focused on what you know to be true. There is no reason to jump ship and assume the worst for any conceivable outlook that this is about to come to a conclusion. You are watching these men work the system and bring it to it's needs and the feet of the citizens without any push back. This will continue for other things the citizens are anticipating to be presented very soon. Imo" - TIVON

I TOTALLY AGREE WITH YOU TIVON imo

Samson:  Al-Sadr asks the judiciary to dissolve the Iraqi parliament and the President of the Republic to set a date for the elections

10th August, 2022

On Wednesday, the leader of the Sadrist movement, Muqtada al-Sadr, asked the judicial authorities to work on dissolving the Iraqi parliament within a maximum period of next week, urging at the same time the President of the Republic of Iraq, Barham Salih, to set a date for early legislative elections in the country.

Al-Sadr said in a tweet seen by Shafak News Agency, "Someone may say: The dissolution of parliament needs to hold a parliament session to dissolve itself. No, there are blocs that adhere to quotas and persistence in corruption and will not succumb to the people's demand to dissolve parliament, but I say: The parliament's dissolution is not limited. with that.”

He added, "From here, I address my words to the competent judicial authorities, especially the President of the Supreme Judicial Council, hoping that they correct the course, especially after the end of the brief constitutional deadlines and others for Parliament by choosing the President of the Republic and assigning a Prime Minister to form a government of stakes, as well as the national or independent majority and away from the old, grim faces that despair Including the people, and if they are not corrupt, they are either deficient or deficient.

Yes, I direct my words to the Iraqi judiciary, from which we still hope for good despite the political and security pressures it is subjected to and leaks from here and there, provided that it dissolve Parliament after those constitutional violations above.. ...within a period not exceeding the end of next week, and graciously assigning the President of the Republic to set a date for early elections, subject to several conditions that we will announce later.

And he continued, "During this, the revolutionaries will continue their sit-ins and their revolution, may God reward them with the best reward... and they will have another position if the people fail again, and we ask all the revolutionaries, the resigned Sadrist bloc, other deputies, and all lovers of the homeland to submit official lawsuits to the Federal Court and through legal means and through the centralization of the committee." It is clear that the elimination of the stake is at stake, and we hope that it will take into account the interest of the people and not be afraid of pressures, as I am sure that many judges are with the people and with reform.”  LINK

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Tivon:  A man of action. I guess Al-Sadr is turning a new leaf. My older comment from the beginning of the year (Before The EFSL)  didn't hold him in high regard. If any of you remember that. But as you can see he is directly aiding in the resurrection of the phrase "Power To The People".

I can't point out anything I wouldn't do in the current environment. Al-Kazemi has some heavy hitters in his corner. And it will not stop anytime soon. The people know what's going on now. They are privy to the proxies.

What a time to be alive as investors seeing it all come together. We are approaching historical times. I can not wait for the coming days ahead. We all know where this is going. The only thing left to do is the obvious. Citizens Entitlements. This is the bottom line.

 I will wait for the remainder of the week for clearer insight on the matter. Right now we are at where we want to be. So let things unfold from here and stay focused on what you know to be true.

There is no reason to jump ship and assume the worst for any conceivable outlook that this is about to come to a conclusion. You are watching these men work the system and bring it to it's needs and the feet of the citizens without any push back. This will continue for other things the citizens are anticipating to be presented very soon. Imo

Jerry1971:  Sadar is up to the mark in getting this hope less and useless parliament dissolved hopefully by next week thus enabling Kazemi to announce his govt to his people also bringing forth the announcement of the new iqd rate exciting times in Dinarland. IMO. 

Grant123:   One day we will wake up and be blessed! A lot needs to be sorted out in a short time period! Let’s hope they can do it! IMO

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Calandig:  Good day family. I wanted to highlight the importance of the phrase “next week “.  This is strictly in my opinion so I could be totally off but it you notice when the Middle East uses the word “next” when referring to days it’s within the very same week (ex. if they say today next Thursday that means tomorrow).

So, by applying this point of view that phrase “next week “ I believe could mean either tomorrow (Thursday) or Sunday 8/14.

Why do I believe this? I’m glad you asked. On Friday 7/29, the IMF had a press release concerning the SDR basket for 2022-2027(in the FAT). The results of their findings go into effect on 8/15. Again, just my opinion. 

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Tivon:  Even without the drop dead date of August 15th. We know a few things. The first being the dissolution by default will activate Al-Kazemi and his government. Given that he will act as an interim transitional authority. He will officially hold all power to activate reforms at anytime he sees fit. So it doesn't matter if he does it before or after the 15th.

The second thing is that we know all banks will be ready for the new digital platform by that date. Which is another plus for us. We know based off what he already told the citizens along with the guy from Al-Sadr camp that the citizens will have their demands met in days.

So you guys do not have to put pressure on yourselves about the 15th.

Don't forget that even the citizens know they no longer have obstacles in front of them. That says a whole lot. They are waiting for Al-Kazemi. This is who I am focused on. Let this guy bring it home for us. What has he promised up until this point that he has not delivered on besides the reforms itself? We are actually seeing it with our own eyes without any special obscure intel.

We know what's next. We don't need the UN, IMF, AMF, World Bank, CBI. Or US Treasury to tell us that. You should be ready regardless. On the 15th and afterwards. Imo

I am 100% excited about August 15th. Why? Because for the first time in this investment all banks in Iraq will be ready for the new rate. Al-Kazemi could announce on that date or afterwards his interim government.  Then the next day the CBI can reinstate the currency.

I think regardless of the 15th it will go in that order. Or it can all happen at once within hours. Regardless the sequence can happen in a consecutive fashion or a concurrent manner. I am good either way because we know what supposed to happen and there's nothing wrong with that. Imo

Samson:  Al-Kazemi's advisor talks about the possibility of approving budgets for more than one fiscal year

10th August, 2022

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained, on Wednesday, the possibility of approving budgets for more than one fiscal year

Saleh said, to the official news agency, that "the amended Financial Management Law No. 6 of 2019 refers to the approval of the general budget on an annual basis, as the draft law sent by the executive authority is presented in the House of Representatives to legislate the law called the Federal General Budget Law," noting that "The global applications of the general budget are mostly annual

He explained, "Iraq adopts a strategy for the general budget that extends for the next three years and is in line with the indicators of the country's economic development plan, but it is subject to amendment annually

He pointed out that "a proposal that the general budget for more than one fiscal year requires amending the effective financial management law, abandoning the annual budget and replacing patterns of budgets that are approved for a number of years," noting that "this type of budgets will grant the financial authorities in particular and the executive authority in general." High flexibility in adjustment and response to developments, economic conditions and emergency financial surprises when legislating a general budget that extends for more than one fiscal year

He added, "The proposal has not been implemented in the world's financial experiences, so it is necessary to study the issue with one of the multilateral international financial organizations, of which Iraq is a member, in order to study the idea in accordance with the approved systems in public finance and its global applications and to assess the legal effects." and accounting related to the foundations of governance of public budgets of this type  LINK
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Governmental Adviser: Iraq adopts a budget strategy for the next three years  LINK

Tivon:  Wow- That is actually crazy. Are you all seeing this? It is over for the corrupt. Al-Kazemi and his cabinet are pivoting hard. They know the EFSL is already cleaning house. So they want to implement a fail-safe once that law expires into next year and have a general budget in place that will basically be an extension of the EFSL.

 It's subject to amendment annually just in case certain areas financially present unique issues where over/under spending could present problems in the newly emerging markets Iraqis will grow into. They can write a 3 year spending plan and adjust it at the end of or beginning of any fiscal year to maintain a economic flow sense they will no longer be relying on oil to bolster their GDP.

They need to make sure the alternative revenues are keeping pace with growth for longer periods. Plus it keeps the political aspect in check and retains a consistent agenda for the party that builds trust with the citizens where they are not concerned to much with hoping a new budget doesn't stifle growth because it lacked the funding of the previous one.

This is just my personal view as I am sure it's way more layered. But this makes total sense and is very genius. This will basically keep Al-Kazemi in power even if he's not in office anymore beyond his tenure. I mean...emergency financial surprises? IMO

Some "International News" Posted by Samson Tuesday PM 8-9-2022

KTFA:

Samson:  Baghdad Airport Seizes 113 Million Counterfeit Dinars, Accompanied By An Iraqi Passenger Coming From Beirut

8th August, 2022

The Iraqi Customs Authority announced Monday, that the Baghdad International Airport customs office seized more than 113 million forged Iraqi dinars, accompanied by an Iraqi passenger coming from Beirut. In a statement received by Earth News, the authority stated,

“With direct follow-up by the Director General of the General Customs Authority, Shaker Mahmoud Al-Zubaidi, with the Baghdad International Airport Customs, an Iraqi passenger coming from Beirut was seized with an amount of (113,100,000) one hundred and thirteen million. And one hundred thousand Iraqi dinars, and after taking the necessary measures by examining the currency by Al-Rasheed Bank, it was found without any doubt that it was forged.”

And the authority confirmed that "the traveler was referred to the competent authorities, and the amount was seized." And the commission indicated that "the seizure process was carried out through cooperation with the National Intelligence Service and the Directorate of Customs Port, Baghdad International Airport, with the support of the Customs Police."  LINK

4Cash:  Maybe this person knows something is about to happen in Iraq, so he was bringing in some extra non circulated currency (non-compliant) to exchange soon!!! 

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Samson:  Because of oil.. Report: The Saudi economy is preparing for the trillion dollar threshold

9th August, 2022

Forbes reported that the Saudi economy rebounded this year due to the high oil prices caused by the war in Ukraine, putting the kingdom close to the trillion-dollar economies

According to IMF forecasts, the Saudi economy will grow by 7.6 percent over the course of the year as a whole, bringing the Saudi gross domestic product to 1040 billion dollars, noting that there are 18 countries whose gross domestic product will exceed one trillion dollars in 2021

In first place is the United States with its economy of $23 trillion, followed by China in second place with $17.5 trillion, and Japan in third place with $4.9 trillion. Saudi Arabia ranked nineteenth among the largest economies last year, but it was still far from the trillion-dollar threshold, with a gross domestic product of $834 billion

According to the US Energy Information Administration, the average cost of a barrel of Brent crude - the main international standard is expected to reach more than $104 this year, up from $70.89 in 2021 and just $41.69 in 2020

On July 31, government data showed that the Saudi economy expanded 11.8 percent year-on-year during the second quarter, with the oil sector growing by 23.1 percent, and the non-oil sector growing by 5.4 percent

Thanks to higher oil prices due to the war in Ukraine, Riyadh posted a budget surplus of 77.9 billion riyals ($20.8 billion) for the second quarter of this year when oil revenues rose nearly 90 percent year on year. "

We expect the (Saudi) budget to record a surplus of 10.4 percent of GDP this year, after nearly a decade of budget deficits," Dubai-based Emirates NBD said in a note on August 5    LINK

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Samson:  Putin saves Erdogan and deals a strong blow to the US dollar

9th August, 2022

The Russian President Vladimir Putin's support for his Turkish counterpart, Recep Tayyip Erdogan, comes at a critical moment for him, while Ankara needs to stabilize the economy less than a year before the general elections.

This is what the writer, Onur Enk, mentioned in the newspaper "Bloomberg", where he indicated that the meeting between the two presidents Putin and Erdogan, which lasted four hours in Sochi last week, it resulted in understandings allowing Turkey by forgoing dollar payments for some Russian gas imports.

According to the author, this partial transition of Turkey in paying for Russian gas, it will stabilize the Turkish lira and prevent new waves of price increases.  This comes shortly after increasing reserves Turkey.  In addition, the Russian state nuclear energy company, Rosatom, transferred money from Russia's state nuclear energy company, Rosatom, to its Turkish subsidiary, Akkuyu Neuklear, to build a Turkish nuclear power plant on the Mediterranean coast.

Moreover, the newspaper states that Ankara refrain from joining Western sanctions against Moscow Erdogan wants to deepen economic relations with Russia without provoking a complete rupture with allies Nato.

The Turkish lira collapsed in November of last year by 18%, which is the maximum decline in the past twenty years, and on December 20 a record high of 18.4 lira was recorded for the dollar, then the annual inflation accelerated against the background of fluctuations in the national currency, reaching 36%, which has raised the cost of everything in Turkey from food to energy and services, and pushed consumer price inflation to 80%, one of the highest rates in the world.  LINK

Samson:  Putin allows sanctioned Russian banks to stop some foreign exchange operations

8th August, 2022

Russian President Vladimir Putin issued a decree on Monday allowing banks with hard currency funds frozen due to Western sanctions to suspend operations in such currencies with their corporate clients.

Russian authorities have intensified the process of devaluing the currencies of countries it classifies as "unfriendly" since Western countries imposed sweeping sanctions after Moscow sent tens of thousands of troops to Ukraine on February 24.

Putin's new measures

The decree, signed by Putin, said the new measures may remain in place until sanctions that have stymied deals in foreign currencies are lifted.  The sanctions restricted foreign currency transfers that Russian banks could make between themselves.  Many banks in Russia have been disconnected from the SWIFT global payments system.

On the other hand, Russia has "fully" fulfilled its two tranches of dollar-denominated Eurobonds by sending interest payments in rubles to the national depository for settlement in its latest attempt to avoid a sovereign debt default.

The latest step comes after Russian President Vladimir Putin signed a decree last June to establish temporary measures aimed at meeting Russia's foreign debt obligations.  LINK

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Samson:  Oil prices rise after suspension of Russian oil flows to Europe due to payments

9th August, 2022

Oil prices rose by more than $1 on Tuesday, Aug. 9, after falling earlier, after Russia said that oil exports to Europe through the southern part of the Druzhba pipeline had been suspended since early August, reviving concerns about a supply shortage.

Brent crude rose $1.42, or 1.5 percent, to $98.07 a barrel at 11:13 GMT, after falling earlier to $94.90. US West Texas Intermediate crude also rose $1.01, or 1.1%, to $91.77.

New oil crisis

Russia's Transneft said on Tuesday that Ukraine had halted Russian oil flows to Europe because European sanctions prevented Moscow from paying transit fees.

The company said that Ukraine has suspended oil flows to southern Europe since August 4, due to Western sanctions against Russia.

The pipeline monopoly Transneft said it made the August oil transit payments to Ukrainian pipeline operator Ukrtransnafta on July 22, but the money was returned on July 28 that did not go to it.

Russia usually supplies the southern part of the Druzhba pipeline with about 250,000 barrels per day to Hungary, Slovakia and the Czech Republic. "We don't need that at this point, but it's another reminder of how tight the market is and how sensitive the price is to supply disruptions, particularly from Russia," said Craig Erlam of brokerage Oanda.

The development related to Druzhba's pipeline comes at a time when supply concerns have been waning amid growing concern about a recession.

Earlier, oil came under pressure in connection with talks to revive the Iran nuclear deal that would allow for an increase in Iranian oil exports. Oil prices rose earlier in the year after Russia's war on Ukraine heightened supply concerns, sending Brent crude to $139 in March, close to an all-time high.  LINK

Monday Night KTFA CC "Kazemi Is Like E.F.Hutton" 8-8-2022

KTFA

Monday Night KTFA CC

Frank26:  8-8-22…….KAZEMI IS LIKE E.F. HUTTON

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Petra, MilitiaMan and Eddie in Iraq

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=-305bjVi6yI

Some "Monday News" Posted by Samson at KTFA 8-8-2022

KTFA:

Samson:  The Central Bank raises the maximum limit for virtual electronic cards

8th August, 2022

The Central Bank of Iraq would like to inform banks and electronic payment service providers to amend
the upper limit for the ceiling of virtual electronic payment cards to 950 thousand dinars or its equivalent in US dollars, after it was 750 thousand dinars... To view,  click here

Translation....

Good greetings to all banks, electronic service providers, issuing m/ prepaid electronic payment cards

Date: By the circular of this bank No. 23/777 on 5/2020  20 (the annexes are a copy of it as a link), and
for the purpose of regulating electronic services in a way that contributes to enhancing
levels of financial inclusion and achieving the principle of competition among banks and electronic
payment service providers licensed by this bank and in line with the market need

We would like to inform you of the amendment of Paragraph (1) Category One) of  Uncles above so that the upper limit of the end, the payment card does not exceed (950,000) dinars (ninety thousand Iraqi dinars) or its equivalent in the currency of the US dollar, to take the necessary and amend the regulations to include the above With appreciation.   LINK

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Samson:  Unspeakable suffering" in Iraq.. Heat sets records, and "mismanagement" exacerbates the crisis

8th August, 2022

Severe temperatures are causing paralysis in Iraq, and exacerbating the suffering of residents, who in some areas suffer from power outages during the summer, at a time when authorities are extending public holidays to protect employees from heat that reached 125 degrees "Fahrenheit" (51.6 degrees). centigrade), according to The Washington Post

The newspaper stated that "Iraq ranks fifth in the list of countries most vulnerable to the effects of climate change, and it is warming faster than most parts of the world (...) and it is not equipped to deal with such cases. And in the southern governorates of Basra, Dhi Qar and Maysan, the authorities said, on Saturday, that the electricity network stopped working for the second day in a row, which led to “plunging millions of homes into darkness, amid a suffocating heat wave

The newspaper said that as a result, "food spoiled in refrigerators and freezers, and some parents put their children in the car and drove for hours, as the air conditioning in their cars was the only source of cold air. Every night, Atheer Muhammad, an Iraqi from Baghdad, brings wet towels and ice water, makes sure the battery-powered fans are charged, and makes sure the automatic power switches that hardly an Iraqi home run through trying to get a night's sleep

Since 2003, experts say, Iraq has spent huge amounts of money to produce electric power, but without much benefit. In 2021, Prime Minister Mustafa Al-Kazemi said that Iraq had spent about $81 billion on the electricity sector, "but corruption was a strong obstacle to providing energy to people in a stable manner, and it is unreasonable spending without reaching a solution to the problem at its roots," according to Iraqi Media Network

The economic expert, Ahmed Al-Tamimi, said in a previous interview with Al-Hurra website that “the amounts spent on electricity may reach more than these numbers,” which were sufficient “to generate electricity more than twice the electricity that Iraq currently generates and up to twice its energy needs

A report by the International Energy Agency, issued in April 2019, indicates that Iraq's production capacity of electrical energy is about 32,000 megawatts, but it is unable to generate only half of it due to the ineffective transmission network it has. It is estimated that Iraq needs 40,000 megawatts of energy to secure its needs, with the exception of industrial ones

The newspaper pointed out that the political crisis reflected negatively on the Iraqis, and as a result of the failure to form a new government, no budget was approved, and "major spending decisions" were suspended. She pointed out that "electricity is not the only public service that is faltering." In addition, the agriculture and fishing sectors were affected by the drought

Exhausted hospitals are suffering to treat cases of heat stroke or breathing difficulties, which were exacerbated by heat and dust and sand storms, in addition to the toxic smoke rising from diesel electric generators, which Iraqis rely on in some areas as an alternative solution to power cuts. In addition to the above, work on construction projects has been halted due to the high temperatures. A combination of "high heat, drought caused by climate change, and mismanagement" caused previous protests in Iraq, and in several regions, repeated demonstrations are being held denouncing poor services and the lack of solutions in the face of the intense heat, according to the newspaper

After a spring in which dust storms were repeated in an unprecedented manner, which experts attribute to desertification and climate change, a heat wave is suffocating Iraq, which suffers from the deterioration of the energy sector, which exacerbates the suffering of Iraqis. After a spring in which dust storms were repeated in an unprecedented manner, which experts attribute to desertification and climate change, a heat wave is suffocating Iraq, which suffers from the deterioration of the energy sector, which exacerbates the suffering of Iraqis

Despite the yearly rise in temperatures during the summer seasons in Iraq, a large number of Iraqis still do not have the means to air-condition. Because of the deterioration of infrastructure and power transmission networks, most areas of Iraq live in unspeakable suffering during the summer days due to the lack of electricity

What makes the matter more difficult is the inability of a large part of them to secure funds to obtain the expenses of electricity generators to compensate for the lack of electricity, according to an AFP report  LINK

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Samson:  Angry protests in southern Iraq over electricity

8th August, 2022

The governorates of Basra and Dhi Qar in southern Iraq witnessed today, Monday, several demonstrations due to power outages in their areas. 

Shafaq News Agency's reporter stated that dozens of Basra demonstrators, angry due to the power outage, cut off important roads and intersections, including Al-Kuzaiza, Al-Zubayr, Baghdad, and Al-Tananir with burning tires, this morning.

In Dhi Qar, our correspondent explained that angry demonstrators cut off the olive intersection in Nasiriyah with burning tires, pointing out that the demonstrations took place due to the power outage in the areas of the two governorates.

For the third time, the electrical network in the governorates of Basra, Maysan and Dhi Qar in the south of the country witnessed a complete shutdown, last night, due to the explosion of the fifth obstetric unit at the Khor Al-Zubair station in Basra governorate.

Iraq has been suffering from a chronic electricity shortage crisis for decades as a result of the siege and successive wars. For many years, residents have protested against frequent power cuts, especially in the summer, when temperatures sometimes reach 50 degrees Celsius.

Iraq is holding talks with Gulf countries, led by Saudi Arabia, to import electricity from them by linking its organization with the Gulf system, after it had depended on Iran alone during the past years by importing 1200 megawatts as well as gas fuel to feed local electric power stations.

Iraq also intends to import electricity from Jordan and Turkey, in an effort from Baghdad to fill the shortage until it builds power stations that are able to meet local consumption.

VIDEO LINK   LINK

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Samson:  Construction workers demonstrate in Erbil to demand their financial dues

8th August, 2022

A number of workers in Erbil city organized a protest sit-in on Monday in front of a residential complex to demand payment of their overdue financial dues.

Kamran Kazem, a worker in the residential complex in front of which they demonstrated, told Shafaq News Agency, "The gathering is because the owner of the complex has evaded paying our financial dues, because a whole month has passed since we started work without receiving any money so far."

He called on government agencies in Erbil to "follow up on the issue and take our rights from the owners of this housing complex," noting that "the owners of the complex have threatened us with imprisonment if we go out and speak to the media."   LINK

Samson:  The protesters continue their sit-in to achieve the demands, most notably the dissolution of Parliament

8th August, 2022

For the ninth day, the protesters continue their sit-in to achieve the demands, most notably the dissolution of Parliament.

Protesters continue for the ninth consecutive day their open sit-in inside the Green Zone in central Baghdad, calling for the dissolution of Parliament, the establishment of early elections and the change of the current political system, in addition to bringing the corrupt to justice and holding them accountable.

The Sadrist movement, the largest popular weight in Iraq, is protesting here in front of Parliament for the second week in a row. The demands have become clear and evident, and the government must implement them if it wants to end the sit-in.

The clans, with their chants and flags, were not absent from the scene of the protests, at a time when they were met by the October demonstrators who responded to al-Sadr's call to form an addition and support for the protesters.

The pavilions that provide food support are increasing day after day, so there is no retreat or return except to achieve what the protesters here aspire to.  LINK

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Samson:  A source : Integrity and the Public Prosecution are investigating the Ashtar contract and arrest warrants for those involved

8th August, 2022

An informed source revealed that the Integrity Commission and the Public Prosecution had begun to open an investigation into allegations of corruption in the contract concluded between the Rafidain Governmental Bank and the Ishtar Gateway Company for Systems and Services {Al Ahlia}.

The source told {Euphrates News}: "There is a tendency to issue arrest warrants and summon those involved in the contract as part of the investigation procedures." The source indicated that "the arrest warrants will affect the former general manager of Al-Rafidain Bank (Hussein Ali Muhaisen) and the defendants with him in the bank because of the signing of the Ishtar Gate contract and the financial fine imposed on the bank to pay $600 million."

The Presidency of the Baghdad / Al-Rusafa Court had ruled on July 26, obligating Al-Rafidain Bank to pay a fine of $600 million to the company {Ishtar Gate} for systems and electronic payment services due to the termination of the contract between the two parties. An informed source revealed that Al-Rafidain refuses to pay compensation to Ishtar. The source told {Euphrates News} that "the bank called for the accountability and trial of the former general manager Hussein Ali Muhaisin and his entourage, who signed the contract illegally, which caused damage to the bank's reputation," according to the source. He pointed out that "Al-Rafidain holds the former director of the bank (Hussein Ali Muhaisen) fully responsible for that."

For its part, the Parliamentary Legal Committee announced its intention to appeal the decision to fine Al-Rafidain Bank. Committee member Ahmed Al-Asadi said in a statement received by {Euphrates News} a copy of it: “The judiciary issues its rulings according to what it needs of identification papers and legal defenses, and as members of the Legal Committee, we will stand by all our efforts with a legal challenge that will be submitted to the ruling issued a few days ago in granting compensation worth 600 million dollars. For one of the companies contracting with Rafidain Bank. He added, "We are all confident in the Iraqi judiciary to stand up to this frightening waste of public money and the organized looting of this poor people's money."   LINK

Some "Sunday News" Posted by Samson at KTFA 8-7-2022

KTFA:

Samson:  The International Development Bank joins the Federation of Emirates Banks in Dubai

7th August, 2022

A banking source revealed, on Sunday, that the International Development Bank of Iraq joined the Federation of Emirates Banks in Dubai

The source told "Economy News" that "the International Development Bank opened a branch in the emirate of Dubai, UAE," noting that "the bank joined the Federation of Emirates Banks

He added, "The bank will facilitate trade and banking exchange between Iraq and the UAE, as well as provide various banking services and establish activities related to the banking sector between the two countries  LINK

Samson:  The Chinese "Petrojaina" threatens to leave southern Iraq due to the demonstrations .. Video

7th August, 2022

Today, Sunday, the Chinese "Petrogyna" company threatened to withdraw from Maysan Governorate, southern Iraq, if the demonstrations continued from the surrounding areas, threatening the safety and security of its cadres, noting that the demands of the demonstrators are not within its competence.

An informed source told Shafaq News Agency, "The company's management threatened to stop its work in Maysan and withdraw from the province and go to another province, or withdraw completely outside Iraq, because of the protesters' threat to the security and safety of its cadres." 

And the source indicated, "The company's withdrawal means Iraq losing 500,000 barrels of production per day from the Maysan oil fields, as well as losing more than 5,000 people working in it and turning them into unemployed."

The source continued, "The protesters from the residents of Al-Kahla are demanding the company's management to provide them with electricity and drinking water, which is not within its competence," pointing out that "releasing job grades in excess of what was employed earlier are matters that the company rejected completely."

A video clip published below by Shafaq News Agency showed dozens of protesters attempting to storm the company's headquarters in Maysan Governorate, while the security forces responded with bullets in the air to disperse the protesters.

This morning, the security forces closed the "Ali Al-Zaki" bridge in the Al-Kahla district of Maysan province, the bridge leading to the Chinese company, to prevent the demonstrators from reaching the company.

VIDEO LINK   LINK

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Samson:  Economist: $15 billion loss for Iraq from changing the exchange rate and storing hard currency

08/07/2022 18:27:19

The economic expert Duraid Al-Enezi explained, on Sunday, that Iraq's loss from changing the exchange rate and storing hard currency amounted to 15 billion dollars.

Al-Enezi said in an exclusive interview with {Euphrates News} that “the central bank storing any currency or metal leads to loss, because the dollar and the euro are exposed to material losses while gold prices are witnessing fluctuations, as well as fluctuations in oil prices, so that is the best solution to maintain the cash surplus. The current oil revenues are being thrown into investment projects, because storage in all cases is subject to a rise and a fall.

And he added, "Iraq lost, from the first days of the oil price hike, about 15 billion dollars, as a result of storing hard currency from the dollar and not benefiting from it." 

It is reported that the Central Bank of Iraq decided on January 19, 2021 to make a significant change in the dollar exchange rate, as follows:

1450 dinars per dollar, the purchase price of foreign currency from the Ministry of Finance.

1460 dinars per dollar, the price of selling foreign currency to banks.

1470 dinars per dollar, the price of selling foreign currency to the public.

The Central Bank's decision caused a rise in prices for foodstuffs, consumer goods and commodities, which negatively impacted the standard of living of citizens and exacerbated unemployment.

Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, said on June 27 about the possibility of changing the dollar exchange rate: “Everything is possible, but we need patience in changing the dollar exchange rate in case prices rise and the financial policy is unable and monetary policy is able to cover the dinar.” To "the Food Security Law, if it is not able to secure the requirements in the event of high prices, the Central Bank will intervene to preserve the strength of the dinar against the dollar."  LINK

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Samson:  Dust storms cause Iraq to lose one trillion dinars this year

7th August, 2022

The Ministry of Environment revealed, on Sunday, that the number of days of dust storms that struck Iraq during the months of this year has reached 100 days, causing economic losses that "exceeded 10 billion dinars for each day."

The Minister of Environment, Jassem Al-Falahi, said that "the most prominent challenges facing the country are climate changes, which have become a major threat to the environmental reality, and among those changes are dust storms that were recorded during the past months of this year, which amounted to 100 days, causing economic losses of ten Billions of dinars for every stormy day.

Al-Falahi pointed to the importance of having future plans to exploit one billion dinars of those billions that are losing to create windbreaks, soil stabilizers and green belts, referring to drought, lack of water resources, decreasing rainfall rates, increasing land degradation and expanding desertification areas, challenges that threaten the country's food and environmental security.

According to the official "Al-Sabah" newspaper. He added, "The biggest challenge to climate change facing the country is the shortage of energy sources, which is linked to the abundance of water storage to operate the system of energy sources gates, as well as the increase in evaporation rates that led to the loss of about 25 to 30 percent of the country's water assets."

The Minister of Environment noted that “high temperatures require more use of energy sources, and therefore there must be a tendency to use renewable, clean and sustainable energies, which the Ministry seeks to achieve through coordination with the concerned authorities to approve the implementation of projects that reduce the use or waste of energy sources in the country.”  LINK

Samson:  Iraq achieves a major global leap in gold reserves

08/07/2022 09:35:49

 Iraq rose 10 ranks among the countries with the most gold in the world, according to the latest report of the World Gold Council, issued today, Sunday.

In its latest schedule for the month of August, the council said, "According to Iraq's large purchases of 34 tons, the latter rose ten ranks to rank 30 out of the 100 countries listed in the table with the largest gold reserves, reaching 130.4 tons of gold, which represents 11.5% of his other precautions. He explained that "Iraq has become the fourth largest Arab gold reserve after it was the sixth, surpassing Egypt and Libya, which ranked fifth and sixth, respectively."

He pointed out that "international central banks added 111.19 net tons to global gold reserves," noting that "the bulk of the rise resulted from purchases from Iraq (33.97 tons), while Turkey continued to buy by (26.60) tons, and Uzbekistan bought (26.44). tons, Kazakhstan (15.79) tons, and India (8.39) tons. He added that "Germany was the biggest seller this month, as it sold 3.36 tons of gold, followed by Mongolia (0.80) tons, followed by the UAE (0.27) tons.

Globally, the United States of America still leads the rest of the countries with the largest gold possession in the world, at 8,133 tons, followed by Germany, 3.355 tons, then Italy, 2,451 tons, while Laos ranked 100, with 0.9 tons, preceded by the Republic of Cape Verde with one ton.

On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.  LINK

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Samson:  The central bank's prudential policy to face the global economic crisis

7th August, 2022 by Samir Al-Nusairi

The global economic system has been witnessing complex economic, financial and security crises for several months, the cumulative causes of which were concentrated in the rise in energy and food prices due to the Russian-Ukrainian war and the American and European sanctions on Russia, which led to confusion in the map of global trade in food and energy.

What we are following now is the rise in stagflation in most countries of the world, most notably in America and the European Union

Although Iraq may be benefiting from the rise in oil prices as it is the main resource for the country, and the map of its imports of grain and foodstuffs currently is from outside the area of ​​the military conflict and economic crisis, but our economy must suffer in the short term from the lack of control over food supplies and oil prices may drop and spread economic stagnation in the light of changing conditions and these effects will inevitably lead to a rise in the rate of inflation and a rise in the general level of prices

Since economic stability is achieved by stability in the financial system and the monetary system, so the hedging measures by the Central Bank, for what is expected of developments in the coming crises, were to rely mainly on building foreign reserves at a level that covers the local currency in circulation, imports, repayments of foreign debt and other international obligations

As well as working on diversifying the reserves to include a basket of currencies, gold, bonds and securities, and making the most of the rise in oil prices to increase the reserves to the maximum extent possible until the end of 2022

 And this is actually what the Central Bank has done during this period, as its foreign cash reserves amounted to more than 74 billion dollars and 130 tons of gold. The reserve is expected at the end of 2022 to reach $90 billion

This confirms that the Central Bank is proceeding at a steady pace to achieve the objectives of monetary policy in reducing inflation and controlling the general level of prices as well as controlling the money supply and maintaining the dinar exchange rate within the target price for the public and following up and analyzing the interest rate set by the Central Bank on an ongoing basis

This requires the financial policy and the main economic sectors and the ministries responsible for them must work jointly and in clear and specific coordination with the Central Bank administration to achieve economic stability and overcome the global economic crisis and limit its repercussions   LINK

Tivon, MilitiaMan and more...Saturday PM 8-6-2022

KTFA:

Tivon:  1.) General Budget

 2.) Formation of GOI

 3.) ?

To be short. I stated for the past four months or so that the first two things were not needed or required in order to implement any reforms. Both have been confirmed from official reports that none will be happening this year other than the preparation for early elections.

Why? Dissolution of course. As I claimed the requirements for everything to meet the citizens demands were already in motion thanks to the EFSL and then its official publication in the Gazette.

Even still when that happened it wasn't enough for some to be convinced that Al-Kazemi could not deliver on anything until the GOI was seated.

Because Maliki needed to be out the way. Despite the many things that were still being done while Al-Maliki was still on the loose to cause problems. Or too much corruption. There's no stability. The GOI has to be seated. We need a budget. Joe Biden will not let this happen.

All of these excuses and none of this turned out to be true.

Nothing stopped the PM from paying off debt visiting diplomats and ambassadors or having the ministries implement certain things to prepare for the new digital system.

Now today you see that the peaceful demonstrations have worked to effectively clean out the rats the citizens stand in victory anticipating that their demands are going to be met without a budget or seated GOI.

 Now what was the other thing I said is coming, since you can basically scratch off the other two? What is the very thing that will conclude this investment and expedite its formal initiation since Al-Kazemi has already stated it will come after the peaceful protesting was done?

 You already seen the official news reports. You already heard Eddie. You know the CBI, AMF, and IMF had meetings. You know banks already been notified about the 15th deadline. Tell me what are your suspicions about item number 3 happening sometime this month.

 I mean....you do know the citizens have already been promised that their demands are not years away. Not months away. Not weeks away. But days away. This is in print.

Demands/Entitlements/Reforms are all interchangeable and synonymous.  They need one thing to work. What is it? Imo

~~~~~~~~~~

MilitiaMan:  Door #3 is the process to get to the RV to start and that, at this point can take nanoseconds.. imo.. ~ MM

Iobey77:  A Shiny New Rate!!!

NoodlesDad:  Lower Denoms, Coins and Fils.

Safeone:  Ah Ah, IMO, how about someone pulling the trigger?????

Suzie:  how about implementation?????

DallasDude:  How about some Damn Courage

~~~~~~~~~~~~

Ourcoin:  Dissolution  IMO  

Tivon:  Nope. Done and over with. Something else that doesn't involve politics at all. I wonder what could it be? …. hmmmmmmm. Imo

DallasDude:  With all due respect did I miss an article that dissolution has been made official..I would agree that's where it is headed..

Tivon:  The motion alone is dissolution. You think Al-Kazemi is waiting for their actual resignation papers? No. Why? Because the EFSL is not a wait & see law. I said this so many times but you guys think Al-Kazemi is playing around for some reason. The guy moves to the letter of the law. Not the time it takes you to adhere to one. If he did that we would actually be waiting until next year right? Because that's when the new government will be voted in right? Think. The early elections is a result of dissolution. Imo

DallasDude:  All I know is that in 3 days it will be 2 months since EFSL was voted on an passed..I don't think Kazemi is playing around at all but I do believe an official announcement of dissolution will come before a rate change does, this is what I expect to hear first and foremost and for that reason alone we won't be waiting until next year..remember the late 4th quarter and trailing but the balls on the twenty yard line with less than a minute to go..Kazemi is the Tom Brady of the middle east right now

Tivon:  What did they say the citizens would receive in days? Dissolution or Entitlements? We are talking about what's in print. Not what our theories are. You missed this one. 👇

Legal expert Ali Al-Tamimi, 08/03/2022, clarified the roadmap for constitutional procedures to achieve the demands of the demonstrators.

 Al-Tamimi told Al-Masala that declaring a state of emergency is the key and the beginning of solutions, and it is announced in accordance with Article 61 ninth of the Iraqi constitution, whereby the Al-Kazemi government is empowered with extended powers and subsequent constitutional procedures and is authorized to administer the elections after the parliament is dissolved.

Samsom:  Sadrist's deputy submits a request to Al-Halbousi to hold an extraordinary session to dissolve parliament

6th August, 2022

A representative of the Sadrist movement, Burhan Al-Maamouri, submitted a request to Parliament Speaker Muhammad Al-Halbousi regarding the dissolution of Parliament.

Al-Maamouri, the only Sadrist MP who did not resign from parliament, demanded that Al-Halbousi hold an emergency session to dissolve parliament and set a date for early elections. 

Translation ......

Honorable Speaker of the House of Representatives Subject / Dissolution of the House of Representatives, Greetings:

According to the provisions of Article (64) of the Constitution, which states:

First, the House of Representatives is dissolved by an absolute majority of its members based on a request from one-third of its members.  In view of the failure of the House of Representatives to elect a President of the Republic based on the provisions of Article (70) of the Constitution and its failure to implement its constitutional obligations, please kindly approve the dissolution of the House of Representatives and hold an extraordinary session of the Council for this purpose based on the provisions of Article (58) of the Constitution and setting a date for early elections. 

We enclose a list of the names of the deputies supporting and signatories to the request. Thank you very much. The accompaniments / - A list of the names of the deputies who signed and supported the request.  LINK

Sawco:  Maybe I misunderstood, but I thought that PM K could dissolve parliament on his own, not needing any vote from Parliament…. Did I misunderstand..??  

MilitiaMan:  There was speculation that Kahdimi could use necessary powers to do so. However, this article and many others supports that there is a likelihood that a more specific constitutional way is being used. There are more than one. I suspect that the list of names is the 110 needed to dissolve. Well timed today.. imo ~ MM

KTFA Members "News and Views" Saturday 8-6-2022

KTFA:

Samson:  Next week..Erbil will host an international investment fair

6th August, 2022

The city of Erbil, the capital of Kurdistan Region, is scheduled to host an international investment exhibition next week.

The supervisor of the exhibition, Ribaz Darwish, told Shafaq News Agency, "The exhibition will be with the participation of dozens of international, Arab and local companies in the field of investment, and it will be held in the International Exhibition Hall in Erbil and will last for four days."

Darwish added, "The exhibition aims to attract investment to the Kurdistan Region, and exchange investment experiences from foreign companies, in addition to introducing them to the labor market in Kurdistan."   LINK

Billuke:  They can't do this on a program rate............................  imo

DCDriver:  Dissolve parliament, hold early elections, seat a government, revalue currency IMO in that order.

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Get1later:  The CBI HAS FULL CONTROL OF THE EXCHANGE RATE !!! 

They've already told the international world,  member banks and International Traders (in an article) they  MUST BE ON THEIR ELECTRONIC PLATFORM BY August 15th or lose out (The trains leaving the station) ??

That "Funky" Program Rate" their tied to ...... WON'T WORK !! 

WHAT DOES THAT TELL YOU?? 

The dissolution of the Government (WHOOPIE) !!! That's a sideshow and a distraction at the moment (IMO)

GOI needs the rate before the budget

KAZEMI continues doing business as if it's already done 

Iraq's in the middle of a state of  emergency (see the EFSL). It's in the Gazette, it's law, it needs a new exchange rate to be implemented 

So what does ALL MEAN ???

The exchange rate will be adjusted WAY BEFORE the early elections and their budget's solved !! 

That's not an opinion ..... That's being spelled out in Articles from the CBI and the GOI (not opinion pieces) 

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Samson:  Iraq, Russia and Iran compete for oil exports to China

6th August, 2022

Russia and Iran's presentation of offers to China and India and discounts on crude oil has led to growing concerns about the future of Iraqi oil exports, on which 95% of its budget depends.

Previous reports had suggested that Iraq would be one of the biggest losers in these speculations, with the decline in demand for Iraqi oil of all kinds, after China and India were among the largest buyers of it, while others believe that this opens new markets that increase Iraq's profits.

Iraq competition

The economist, Dr. Ahmed Saddam, says that it is natural that Russia’s decision to reduce the price of a barrel of oil exported to India and China will lead to a change in the direction of demand, which rose by 15.5% from Russia, in return for a decrease in the level of oil imports from Iraq by 10.5%, as the Iranian decision to reduce came within limits 10 dollars above the world price to constitute a strong competitor to Iraq.

Saddam indicated that this change in the level of demand does not mean abandoning the rest of the oil markets, especially the Iraqi market, which is the second source of India after Saudi Arabia, and despite the reduction in oil prices, the share imported from Russia represents only 19% of the total Indian demand estimated at about 5 Millions of barrels per day, as India imports approximately 950,000 barrels per day from Russia, and China imports 860,000 barrels per day and 700,000 barrels per day from Iran.

Saddam adds that according to these circumstances, Iraq has no other choice but to diversify its export outlets, especially towards the European and American continents, as it is estimated that oil exports to the United States increased by 11% as a result. He believes that Iraq's situation before and after the Ukrainian crisis is still good despite the decline in Asian demand for Iraq's oil, but the important point in this regard - according to Saddam - is that even with the price reduction by Russia, there will remain technical and economic obstacles, foremost of which is the length of distance and time. This limits the number of barrels of oil imported from Russia, and this means that the decrease in Iraq's share of oil exports to China and India will not be significant.

Decline factors

For his part, economist Dr. Medhat Kazem Al-Quraishi believes that oil prices in general initially rose due to the embargo on Russia, then their prices fell due to the economic recession in Europe and the world.

Al-Quraishi notes, according to Al Jazeera Net, that the oil markets are still unstable due to the presence of negative and positive factors influencing, and therefore it is not possible to predict what will happen to the oil market related to the war in Ukraine and its repercussions. He points out that competition between producers leads to lower prices, as well as US pressure on OPEC, which may leave a small impact, despite Saudi Arabia and the UAE's rejection of the pressures of US President Joe Biden.

Upcoming crisis

In turn, Professor of Economics, Dr. Abdul Rahman Al-Mashhadani warns of a new crisis, so we should not be optimistic about the rise in current oil prices as they are not real, and therefore the Iraqi government should work within reasonable limits.  LINK

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Samson:  Sadrist's deputy submits a request to Al-Halbousi to hold an extraordinary session to dissolve parliament

6th August, 2022

A representative of the Sadrist movement, Burhan Al-Maamouri, submitted a request to Parliament Speaker Muhammad Al-Halbousi regarding the dissolution of Parliament.

Al-Maamouri, the only Sadrist MP who did not resign from parliament, demanded that Al-Halbousi hold an emergency session to dissolve parliament and set a date for early elections.

Translation ......

Honorable Speaker of the House of Representatives Subject / Dissolution of the House of Representatives, Greetings:

According to the provisions of Article (64) of the Constitution, which states:

First, the House of Representatives is dissolved by an absolute majority of its members based on a request from one-third of its members. 

In view of the failure of the House of Representatives to elect a President of the Republic based on the provisions of Article (70) of the Constitution and its failure to implement its constitutional obligations, please kindly approve the dissolution of the House of Representatives and hold an extraordinary session of the Council for this purpose based on the provisions of Article (58) of the Constitution and setting a date for early elections. 

We enclose a list of the names of the deputies supporting and signatories to the request. Thank you very much. The accompaniments / - A list of the names of the deputies who signed and supported the request.  LINK

Clare:  BOOM!!! ..........THANK YOU SAMSON!

Samson:  Is it possible to dissolve parliament ?

5th August, 2022 by Dr. Bilal Khalifa

There has been talk these days about another solution that cuts the way to the political stalemate, which is to go to a second election. The weights of the political blocs may change, and consequently, alliances may change and lead to the possibility of forming a new government. It must be remembered that the Al-Kazemi government, when it was formed, the purpose of that government was to hold early elections.

The scenario of dissolving Parliament and rerunning the elections faces obstacles, including:

1- The Federal Court, when it rejected the framework’s appeal (Monday, December 27, 2021) regarding the illegality of the elections, but the Federal Supreme Court at the same time recommended two points, namely:
A- Legislating a new election law
B - Not using electronic counting and sorting, and here lies the problem, which is that the current government is the caretaker of daily affairs, and it does not have the constitutional legitimacy for that, according to Article (64-second) and according to the Federal Supreme Court’s decision No. 121 / Federal / 2022, but after enacting a law Food security, despite its violation of the Constitution, it became possible to legislate a law during the period of a caretaker government, despite that it is unconstitutional.

2 - Some large blocs, as well as some small ones, who are independents, will not accept going to the second elections because of the possibility that their seats will be reduced.

3 - The dissolution of Parliament is the step that must precede going to elections, and this paragraph was referred to in Article 64 of the Constitution, where it clarifies that the period shall be a maximum of sixty days. Elections must take place after the Parliament is dissolved.

But the dissolution of Parliament will face several obstacles, including:

1 - The ways to dissolve Parliament are in two ways defined by the constitution in Article 64 of it, and in two ways:

First: The Parliament is dissolved by an absolute majority of the number of its members, at the request of one-third of its members, or a request from the Prime Minister and with the approval of the Prime Minister Republic, and the Council may not be dissolved during the period of questioning the Prime Minister.

Second: The President of the Republic, upon dissolving the House of Representatives, shall call for general elections in the country within a maximum period of sixty days from the date of the dissolution, and the Council of Ministers in this case is considered resigned and continues to run daily affairs. And that the two paths end with the parliament’s vote on it by an absolute majority, meaning that the ball is in the range of the members of the House of Representatives and it is the final decision-maker in the matter.

2 - The dissolution of the House of Representatives means that the government will turn into a daily caretaker government devoid of any powers, but how if it is a caretaker government.

3 - The second way to dissolve Parliament is a call from the President of the Republic to dissolve Parliament, how if the President of the Republic is the end of powers, Article 72 of the Constitution shows that the President of the Republic ends his term at the end of the Parliament, i.e. when the House of Representatives is dissolved and someone else comes after the first session, then his validity ends. Everyone knows that the first session was months ago, and therefore the President of the Republic is by virtue of the expired powers.

4 - The first way requires the process of convening a session of the Iraqi parliament, and then submitting a proposal to dissolve parliament to the presidency of the council and vote on it, but this process must be evacuating the building and its surroundings from the demonstrators, otherwise how can the deputies come amid a building full of demonstrators.

5 - The election process requires large funds. In the last elections, the government cost an amount of about 300 million US dollars, i.e. 450 billion dinars, or nearly half a trillion dinars, but here the question arises, from where this amount is allocated, and this is not possible because:

A - The current government is a caretaker government and does not have the authority to transfer or any authority to control funds except in matters appropriate to the situation.
B - We need a general budget to allocate money to the election process, and therefore, before going to the elections, the government must be formed and the federal budget law is enacted.
C - Legislating a law for elections, and this would be unconstitutional and that any appeal by the deputies will be rejected because the law will include financial aspects, and despite that it also needs Parliament to return to its work and the demonstrators to leave.
6 - Going to elections will be in two ways:

A - the use of the old law, and this will be contrary to the decision of the Federal Supreme Court
B - the enactment of a new law and this is not possible and we talked about it above and it is also contrary to the decision of the Federal Supreme Court, and the new legislation needs that Parliament exercises Duty for several months until this law is enacted.

The result is that the second elections, which some may call for, are difficult to hold because they violate the decisions issued by the Federal Supreme Court, which are irrelevant and binding on all (Article 94) of the Constitution. Likewise, the constitution made the government a caretaker, so how is it now a caretaker government?

The solution is to form a government whose most important duty is to hold early elections, and since the preparations take several months, a government with full authority can legislate the budget law and serve the people until elections are held and turn it into a caretaker government as well. But if the parliament is dissolved and elections are held by other than the methods mentioned above, which are originally found in the constitution, these procedures will be unconstitutional.  LINK

Some "Vietnam News" Posted by Samson Friday 8-5-2022

KTFA:

Samson:  Vietnam : Banking sector can be pioneer in digital transformation: PM

5th August, 2022

Prime Minister Phạm Minh Chính said the banking sector had all the factors to be pioneering and, in fact, was at the forefront of the digital transformation process.

Digital transformation was an inevitable trend, and an urgent requirement, noted the Prime Minister.

The Prime Minister, who is also Chairman of the National Committee on Digital Transformation, attended and delivered a keynote speech at the Conference on Digital Transformation in the Banking Sector organised by the State Bank of Vietnam (SBV) in Hà Nội on Thursday.

Speaking at the conference, SBV Governor Nguyễn Thị Hồng said that in the Prime Minister's Decision No 749/QĐ-TTg approving the programme on national digital transformation by 2025, the finance - banking sector was identified as one of eight sectors that needed to prioritise digital transformation.

The SBV has established a steering committee for the digital transformation of the banking sector and chose May 11 as the day of digital transformation of the sector.

The plan puts people and customers at the centre, with very specific goals, such as 50 per cent of banking operations to be digitised by 2025, 70 per cent of customer transactions conducted on digital channels, and 50 per cent of retail loans and consumer loans for individual customers are digitised and automated.

The SBV's Payment Department said banking services on digital platforms in Việt Nam were developing, especially e-payment services with digitalisation and rapid growth.

Non-cash payment transactions increased by 77.2 per cent in volume and 29.8 per cent in value in the first six months of this year.

Nearly 70 per cent of Vietnamese adults have bank accounts; 5.5 million accounts and approximately 8.9 million bank cards have been opened electronically; 1.77 million Mobile Money accounts have been opened, of which more than 67 per cent are in rural, remote and isolated areas.

Many leading Vietnamese banks in digital transformation have now achieved 90 per cent of customer transactions on digital channels, far ahead of the target set in the programme on national digital transformation at 70 per cent by 2025.

Besides the positive results, the Prime Minister stated that the process of national digital transformation and bank digital transformation still faced many difficulties and challenges. Mechanisms and policies still had many shortcomings, especially in terms of identification and electronic authentication; inadequate information technology infrastructure, while connection and exploitation of population data, insurance and tax was still narrow in scope, he said.

The participation and coordination of financial technology enterprises was still limited; and high-tech crimes involved increasingly sophisticated forms, added the Prime Minister. Resources, especially highly qualified human resources for digital transformation, were still lacking, including in information technology, he said.

In the future, the situation around the world and in the region would continue to develop unpredictably, with far-reaching impacts on countries, said the Prime Minister.

Noting that it was necessary to identify difficulties and challenges rather than opportunities and advantages, the Prime Minister emphasised a number of requirements such as promoting a change in thinking, methodology and working methods of the banking sector in a modern direction; boosting the development of e-commerce, digital society, and digital economy; promoting integration, connection and sharing of national databases on population and specialised databases to gradually build a digital citizen ecosystem.

The Prime Minister requested the State Bank of Vietnam and the banking sector to make great efforts and more effective actions in digital transformation; carefully assess the situation, results, causes, limitations, inadequacies, and lessons learned from domestic and international experiences; analyse and forecast the upcoming situation, determine short-term, medium-term and long-term goals; and develop an digital transformation programme for the whole sector with appropriate and specific roadmaps, solutions and resources.  LINK

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Samson:  Stability of Vietnamese đồng under pressure of global headwinds

2nd August, 2022 by Võ Trí Thành

Global central banks are in a dash to raise interest rates to cool rampant inflation and their moves are challenging the State Bank of Việt Nam’s policymaking in a way to support the economic recovery while sustaining macroeconomic sustainability.

Last week, the US Federal Reserve (Fed) raised interest rates by another 75 basic points (bps) – the second straight month and its third this year – in an effort to fight inflation which hit a 40-year high of 9.1 per cent in June. That takes the cumulative June-July increase to 150 bps – the steepest since the early 1980s.

The European Central Bank on July 21 increased its benchmark interest rate by 0.5 per cent for the first time in 11 years and is signaling further hikes this year after consumer prices in the euro area are expected to rise to 8.9 per cent in July.

Data from Reuters showed seven central banks of the Group of Ten delivered 350 basis points of rate hikes last month – nearly half of the total 775 bps administered by policymakers across the group this year to date. Meanwhile, emerging market central banks have raised interest rates by 4,415 bps year-to-date, compared to 2,745 bps for the whole of 2021.

Among major central banks, only China and Japan have maintained loose monetary policy thanks to relatively low inflation and to boost the domestic economies.

The world economy is in a downward spiral with the risk of major economies falling into recession rising. The International Monetary Fund (IMF) last week again downgraded its forecast for global growth this year, from 3.6 per cent in the April report to only 3.2 per cent this year. In April, it cut its growth expectations for 2022 to 3.6 per cent from 4.4 per cent.

Facing rising risks of supply disruption, debt crisis, high food prices and worse-than-expected high inflation, global policymakers are rushing to tighten monetary policies but seeking a balance between curbing inflation and maintaining growth is a very difficult task.

In Việt Nam, the picture is very different. Việt Nam’s economy recovered spectacularly in the second quarter with a growth rate of 7.7 per cent – the fastest expansion in 11 years, lifting the six-month growth to 6.42 per cent. Inflation was kept at a relatively low level at 2.54 per cent in the first seven months.

Some international institutions have forecast Việt Nam’s economy will achieve and even surpass its growth target this year.

In its latest report last week, Standard Chartered Bank expects Việt Nam’s GDP growth at 10.8 per cent for the third quarter and 3.9 per cent for the last quarter, taking full-year growth to 6.7 per cent. Meanwhile, the Singapore-based United Overseas Bank (UOB) revised Việt Nam’s growth up to 7 per cent from 6.5 per cent.

However, pressure is building. Despite relatively low inflation in the first half, inflation is expected to rise towards the end of this year, though still within the target range but likely reaching 4 per cent or slightly higher. This rate will be much lower compared to many countries but will pressure the foreign exchange rate.

Never before has the world witnessed major foreign currencies weakening sharply against the US dollar (USD) like this year. The Japanese yen has lost about 20 per cent of its value against USD, followed by the euro, down 12 per cent. Other currencies such as GBP (British Pound), THB (Thai Baht) and Won (South Korea) also fell by more than 10 per cent.

In Việt Nam, the Vietnamese đồng (VND) has lost about 2.5 per cent against the USD by the end of July and is seen as relatively stable amid global currency volatility. However, exchange rate management is facing challenging choices.

Relative stability or higher depreciation?

According to the principle of relative purchasing power parity, a country with high inflation is expected to depreciate its currency relative to other currencies as inflation will reduce the real purchasing power of that country’s currency.

In Việt Nam, pressure on currency depreciation is not derived from inflation (as inflation is still relatively low in Việt Nam) but from unstable external factors. Although US inflation was high, it was accompanied by the Fed's hawkish action to increase interest rates by a large margin, causing the USD to appreciate strongly against other currencies.

If Việt Nam devalues ​​its currency too quickly, it will benefit exports but harm imports and put more pressure on inflation, challenging the Government’s efforts to keep inflation under the target. On the contrary, if the exchange rate is restricted too much, it will also affect Việt Nam's trade, making our exports less competitive in the context that the currencies of our trading partners and competitors have weakened sharply against the USD since the beginning of the year.

However, looking at the recent actions of the policymakers, keeping the exchange rate relatively stable is taking priority. At a meeting with the Government last week after the Fed’s meeting, Prime Minister Phạm Minh Chính reaffirmed curbing inflation, ensuring macroeconomic stability and safeguarding major balances would still be Việt Nam’s top priorities.

The State Bank of Việt Nam (SBV) therefore is focusing on maintaining flexible policy and proactively managing the exchange rate in line with the market developments to both fight inflation and ensure the policy is supporting economic growth.

As world commodity prices have continuously escalated, Việt Nam is one of the economies with large openness and is heavily dependent on imported raw materials and fuels. That’s why keeping the exchange rate reasonably stable to curb input prices for businesses is important. However, the Fed’s rate hike is still expected to have adverse impacts on emerging markets when foreign capital may be withdrawn from these markets to fly back to the US. So far, this situation is relatively stable in Việt Nam thanks to flexible interventions of the market regulator.

Since the beginning of this year, SBV has pumped US$12-13 billion into the market to help stabilise the exchange rate. The central bank has shifted to selling USD in the spot market instead of forward contracts to cool the pressure. Especially over the past month, it has continuously attracted đồng through the issuance of bills of exchange, narrowing the difference between the USD and đồng interest rates through Open Market Operations (OMO), thereby helping increase the value of the đồng.

In addition, trade surplus, FDI, remittances, expected balance of payments surplus and a somewhat strong foreign exchange reserve of about $110 billion are positive factors likely contributing to the relatively stable value of Vietnamese đồng.

Given rather low inflation and stable macroeconomic condition, the SBV is believed to have enough capacity to keep interest rate and foreign exchange policies steady for now to fight inflation and support economic recovery. However, building pressure will likely drive the SBV to increase interest rates in late-Q3 or Q4, though the rate hikes will be limited around 0.25-0.5 per cent and VND may depreciate by about 3 per cent or a little bit higher this year.   LINK

MilitiaMan Tivon and KTFA Members "Days Away" 8-5-2022

KTFA:

Clare: The Coordination Framework announces its support for holding early elections under conditions

2022-08-04 

The coordination framework, which brings together the Shiite forces participating in the political process, affirmed, on Thursday evening, its support for any constitutional path to address political crises and achieve the interests of the people, including holding early elections, according to conditions.

The framework stipulated, in a statement received by Shafak News Agency, "achieving national consensus on early elections, and providing a safe environment for their holding."

He stressed the need to "work to respect the constitutional institutions, and not to disrupt their work, and to keep the ceiling of political forces, the law, the constitution and the interest of the people."

The position of the coordination framework comes a day after the leader of the Sadrist movement, Muqtada al-Sadr, called for dissolving the current parliament and holding early elections, which he said he had not yet decided whether to run or not.

Soon, several political forces, including those affiliated with the coordination framework, announced their support and welcome to Al-Sadr's call for early elections.

In a statement yesterday, Al-Amiri stressed the need for a comprehensive national dialogue in order to set a date, mechanisms and requirements for holding new early elections, including providing appropriate climates to restore citizens' confidence in the political process.

The political scene is living in a crisis situation and a dead end unprecedented in the history of Iraq, as more than 300 days have passed since the early elections without being able to form a new government in the country, and the survival of the caretaker government headed by Mustafa Al-Kazemi.

On the tenth of last October, Iraq held early legislative elections to get out of a political crisis that swept the country after large demonstrations in the central and southern regions in 2019 in protest against the widespread unemployment in society, the spread of financial and administrative corruption in government departments and institutions, and the deteriorating reality The service and the livelihood, which prompted the former prime minister, Adel Abdul-Mahdi, to resign under popular pressure.

As soon as the preliminary results of the elections were announced, the voices of forces and political actors rose in their rejection of losing many seats, accusing them of major fraud in the ballot, which was denied by the executive and judicial authorities, at a time when the United Nations and international organizations praised the integrity of the electoral process.  LINK  

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MilitiaMan:  Conditions? I'll bet the impasse has Al - Amiri looking to get a deal from Sadr. I'll meet these items if I can get immunity or safe passage? lol.

Sadr wants the old faces of corruption out of government. If Sadr is successful in getting them weeded out he may run in the early elections, as noted below the last election can be corrected. First things first though.

Dissolution is gaining considerable popularity and there is strong demand for to get the corrupt accounted for.

 Sadr knows that the US and others know where the money is. The Citizens know that to be true now. They told us years ago they were working to this end.

And that end looks to be within days now.

They are even cleaning up not only has been done in the Dome, but now in the square.  Imo ~ MM

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LINK

US report: Intelligence is following up on Iraqi daily movements and bank accounts

A US report published by the Washington Institute for Near East Policy confirmed that although the US high command is likely to focus on competition between great powers and domestic issues, its institutions are familiar with the daily movements inside Iraq, including bank accounts.  

The report, written by Michael Knights, a "Bernstein Fellow" at The Washington Institute and one of the founders of the institute's Militia Spotlight platform, followed by Nass (August 5, 2022), stated that the US intelligence community and diplomatic corps, as well as America's allies and partners, "know a lot about daily movements, conversations, and calculations." banking for key Iraqi leaders

The report claimed, "there is a plan for the coordination framework led by al-Maliki and the support of the commander of the Iranian Quds Force, Ismail Qaani, to overthrow the majority government through the use of judicial tools in accordance with an endowment concluded at the beginning of this year, offset by al-Sadr's resorting to the street and the invasion of institutions, including the parliament building

The report also suggested that US leaders think urgently and unconventionally about policies, which sends a signal to Muqtada al-Sadr that the current impasse can be resolved in more than one way and that the "stolen elections" error can be "corrected

 Link to full report - REPORT LINK

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LINK

A demonstration launched in Al-Nusour Square in Baghdad

5th August, 2022

This Friday afternoon, a demonstration started in Al-Nusour Square in the center of the capital, Baghdad

Our correspondent stated that the demands of the demonstrators stressed the call for writing a new constitution for the country, changing the form of the political system to a presidential or semi-presidential system, recovering Iraq's looted funds and holding the corrupt and those involved in the shedding of Iraqi blood accountable

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LINK

Tishreen supporters demonstrate in Nisour Square, and "overthrow the regime" is their most prominent demand- imo (Not Kahdimi...)

5th August, 2022

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LINK

Close To Al-Sadr, Addressing The Current: Only Days Will You Meet Your Demands

5th August, 2022
The leader of Saraya al-Salam, Abu Duaa al-Issawi, confirmed today, Friday, to the Sadrist movement's demonstrators, that days separate them from achieving their demands.

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LINK

The Celebration Square hosts a unified prayer for the Sadrists

5th August, 2022

A unified prayer was held in the Great Celebrations Square in the Green Zone in the center of the capital, Baghdad, on Friday, which gathered thousands of supporters of the Sadrist movement, in response to an invitation from Muqtada al-Sadr.

Zeeman:  before anything  you must get rid of malaki and the irians once and for all or nothing will really change but hopium no matter what anyone prints. Imo

Tivon:  What specifically is Maliki holding up? Don't tell me the citizens demands or entitlements. That's already covered from what was revealed today. We need first dibs on that info if you can provide that. Because anything other then what we are waiting for is none of our concern.

The citizens got that handled with the full support of Al-Sadr and Al-Kazemi. Published official information is not hopium. That's from your gurus over the past ten years and more who sold their followers an illusion of what the RI/RV entailed. Which had nothing to do with bank screens, redemption centers, Tier 1-4, etc.

Because all that was private information that created no real indication that the public was next. There is no hopium when it's coming from the source who is responsible for what is needed to reinstate their currency.

Which is something the local banks in Iraq were clued in on and given a deadline to connect to the digital platform that will handle all trades, stocks, bonds, shares, investments, and daily transactions.

That is not hopium. That's a deadline. What happens after or maybe even prior I am sure has been worked out between the IMF, AMF, and the CBI. Or you sure nothing has changed? I highly doubt that. You just don't read. You do know reforms come with these demands right?

The leader of Saraya al-Salam, Abu Duaa al-Issawi, confirmed today, Friday, to the Sadrist movement's demonstrators, that days separate them from achieving their demands.  

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MilitiaMan:  Sadr said we are not leaving the square until we get our demands met. Well they cleaned up the square today.. They apparently got what they needed.. Days away could mean many things to some. But, when crowds to the like of what we witnessed chanting take down the regime, is not on deaf ears.. That is serious. So, from the looks of it they left the square and cleaned up on the way out.. Very bullish sign that the needs of the citizens and Sadr were met and now we watch for the implementation of those needs.. imo ~ MM

Tivon at KTFA "Theft By Counterfeit" Thursday 8-4-2022

Tivon:  Theft By Counterfeit: 

Listen, you all will have to be mindful of the fact that you hold currency that some bank tellers will be tempted to confiscate by telling you your money is inauthentic and keep it for themselves and exchange it later.

A lot of people work jobs out of survival. Not because they love it. So they will take advantage of any opportunity to escape the drudgery of a 9-5 if it means taking advantage of naive customers who are not privy to schemes that are redundant practices unbeknownst to the general public.

Some of them are and were skeptical of the foreign currency swap that would yield large returns simply because of the improbably nature of something of this magnitude being allowed or accessible to the common man without investing a large sum of money from the onset to get the type of (ROI) that is promised.

So you have to guard your currency and do not allow them to keep it without validating the reason with undeniable evidence that what you hold is invalid.

What is a dead give away is them not destroying the currency in front of you. If they take it out of your view and not shredding it you may have some "Theft by Counterfeit" perpetrators on your hand.

 If a bill is counterfeit, it is sent to the Secret Service. But if it's merely unfit by the Fed's standards, then the machine shreds it.

Those shredded notes are sent to landfills or packaged and provided as souvenirs to the public on Federal Reserve Bank tours.

So if I were you I would only deal with provisional overhead in their department. Because this type of money is to large for your average bank teller anyway. So there really is no reason to deal with them.

Once in the bank ask for the manager. Inform him you have IQD and would like to discretely exchange and deposit a small amount until you figure out what your next move is.

If they want to authenticate your IQD give them the smallest bill you have and you want to see them destroyed in plain view if they are found to be fake.

There should only be two people in the room. You and the person in question. Imo

4Cash:  IMO Tivon, very good information for everyone that is a holder of the Iraqi Dinar!!!

Edna:  Best advice I've [ever] heard concerning this aspect of exchange. Concise, straight to the point and easy to digest.    Thank you.

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Tivon:  Comex 589

Basel 3 Compliant 

ISO-20022 

These three things above should always be the deciding factor as to who you decide to bank with. I don't care about the title or name of the bank. If they are not operating within those parameters then you should not put your money in any of those banks.

Especially if they are not Basel 3. Then you should go from there. How much insurance can they cover. If you are comfortable with that. Then the next question should be about the interest. And you know just build from there.

Because you have to have the next 10-15 years or more in mind when you are handling money with bank institutions. Especially credit.

Russia is the first country that does not have a Rothschilds Draconian system that is bleeding their citizens dry through predatory lending practices. These banks would borrow money from the Federal Reserve at 2% intrest. But charges you 7-8% intrest on a house loan from money they don't even physically possess in their vault.

It only exists on a computer. Yet, you are paying real money on fake money throughout your career that ends up being way more than the interest the bank had to pay in order to even write up the deal in the first place.

Guess what? If the banks follow those three banking rules above they will not be able to do this anymore. Because "The Gold Standard" alone by it's very existence promotes fiscal responsibility where money printed out of thin air will no longer be standard procedure. Imo

 (Dinar Recaps Note: This post is for informational purposes only.  It is not legal, tax or investment advice.  Dinar Recaps advises that everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.)