MilitiaMan "Let's See if This is the Final Countdown" 10-26-2022

KTFA:

MilitiaMan:  Lets see if this is the final countdown.. Last day of the month is Monday next. Things apparently may have gotten started on the 20th - 21st of this months electronically.

There are very big meetings in Saudi Arabia this week and in Dubai..  They are full of the most powerful entities in the world.

The legitimacy of the Iraq Government by having a seated government through the Cabinet of the Prime Minister tomorrow could be the shot heard around the world. It is a necessary item. If it were not?

Then we wouldn't be seating here waiting, we would all be doing the next move, starting a new.. imo We are watching a historical event unfolding.. I like it.. A lot.. lol .. imo ~ MM

Samson:  Al-Halbousi sets tomorrow, Thursday, the date for the session of granting confidence to the Sudanese government

26th October, 2022

The House of Representatives confirmed that tomorrow, Thursday, a voting session will be held on the ministerial curriculum and the cabinet for the government of Prime Minister-designate Muhammad Shia Al-Sudani.

And “Mawazine News” received a document that included the response of the Speaker of Parliament, Muhammad al-Halbousi, to Al-Sudani’s request to set a date for the session:   LINK

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Parliament sets tomorrow as a date for voting on the ministerial curriculum and the cabinet for the Sudanese

26th October, 2022

The Speaker of Parliament, Muhammad Al-Halbousi, has set at two o'clock tomorrow, Thursday, the date for the voting session on the ministerial curriculum and the cabinet for Prime Minister-designate Muhammad Al-Sudani.  LINK

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After the amendments.. Parliament officially sets Thursday to vote on the Sudanese government   
26th October, 2022

The Speaker of the Iraqi Parliament, Muhammad al-Halbousi, has set tomorrow, Thursday, Thursday, a date for holding a session of granting confidence to the government of Prime Minister-designate Muhammad Shia al-Sudani, after amendments he made to his first book, and re-sent it again.

According to Al-Halbousi's marginalization, on Al-Sudani's latest book, which was reviewed by Shafak News Agency, the Speaker of the Council set tomorrow, Thursday, a date for holding the session, and also directed the formation of a committee to study the ministerial curriculum for the Sudanese, and another to study the CVs of the government cabinet.

Earlier today, Parliament rejected the first request submitted by the Prime Minister in charge of forming the government, Muhammad Shiaa Al-Sudani, to hold a session of granting confidence to his government tomorrow, Thursday, before the latter rectified the situation, amended his request and sent it back to be accepted by the Presidency.  LINK

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AMAON:  With the participation of Iraq.. the start of the work of the Arab Summit Council at the level of permanent delegates in Algeria

26th October, 2022

Today, Wednesday, the 31st Arab Summit began in Algiers.

A source that was followed by (Al-Oula News) stated that "the work of the thirty-first Arab summit began with the meeting of permanent delegates and senior Arab officials," noting "the participation of Iraq's permanent representative in the Arab League and Iraq's ambassador to Egypt, Ahmed Nayef Al-Dulaimi."

She added, "The summit meeting will discuss a number of items and they will be submitted to Arab foreign ministers next Saturday, with the participation of Foreign Minister Fouad Hussein."  LINK

Wednesday AM Iraq Economic News Highlights 10-26-22

Wednesday AM Iraq Economic News Highlights 10-26-22

3 Billion Dinars Won By Speculators And Lost By Citizens As A Result Of Selling Their Dollars For Licenses.. Rally To Sue Mps Who Confused The Market

2022-10-26  Yes Iraq: Baghdad

It is known that during the past days, the exchange rates of the dollar decreased significantly and continuously until the purchase price of the exchange shops from citizens reached the dollar, at a price of 1455 dinars to the dollar. From reducing the price of the dollar and returning it to 1200 dinars to the dollar during the coming period.

These fears came as a result of the deputies’ statements that confused the markets, which prompted economists to open fire on the deputies who accused them of helping and increasing the profits of “speculators” as they caused the dollar to be offered in the market at a low price and to be bought by the citizen, before the dollar price returned to its real price in the days

The coming time is when everyone realizes that the dollar will never change, and the demand for the dollar will rise again, which may raise it to 1485 dinars to the dollar, so that the citizen who sold his dollars will lose 30 dinars per dollar, and the speculators and exchange owners profit in return.

The economic researcher, Mustafa Abu Dhaif Allah, says that the fool is the one who sold his dollars because of the deputies’ campaign to reduce the price of the dollar, noting that “the banks and exchangers (speculators) are very thankful to the deputies who signed and say we have finished the Iraqi dinar that we own and we have bought all the dollar in the market, and the time has come. Let's sell our dollars, with a profit margin of 4-5%.

Addressing the citizens who sold their dollars at low prices these days, Abu Dhaifallah said that they had lost 3-5% of your dollars, so you should file a lawsuit against every deputy who participated in this deal, noting that “from the last hours of today’s date, the price hike continued The dinar against the dollar.

On the other hand, the economic researcher, Mortada Al-Azzawi, said that “anyone who exchanged his dollars and lost part of his money during the previous days should go to complain about these MPs who participated in speculation through their statements in reducing the exchange rate.”

Cash sales of dollars per day in the Iraqi market are estimated at about 30 million dollars on average, which means that the citizens who sold with a price difference of 30 dinars per dollar due to the decline and offer their dollars for sale in a large way in the market, which led to a decrease in prices, they lost about one billion dinars per day,

and while it continued The decline is due to the offer to sell the dollar in a large way for about 3 days, which means that the loss of citizens amounted to 3 billion dinars, and at the same time, speculators gained 3 billion dinars due to this crisis and the confusion in prices caused by the statements of representatives about the reduction of the exchange rate.  LINK

New Statistics Indicate The Difficulty Of The World's Countries To Give Up "Oil And Gas"

Energy  Data and statistics for the British company BP monitored today, Wednesday, that about 90% of the world’s energy consumption comes from fossil fuels during the year 2021.

A recent statistic, seen by "Economy News", showed that "the world's consumption of energy that comes from fossil fuels, which included oil, natural gas, coal and nuclear energy, amounted to 89% of the rest of the other clean fuels, which included hydropower and renewable energy."

And she added, "States' consumption of crude oil reached 31%, so the percentage of countries' consumption of coal was 27%, and the percentage of countries' use of natural gas was 24%, and nuclear energy of it 7%."

She noted that "the share of countries' use of clean fuels was 7% of hydroelectricity, while the share of renewable energy from wind and sun was 4%."

The countries of the world are seeking to reduce fossil fuels and increase clean energy after the climate changes that swept the countries of the world, while the countries of the world were shaken after the Russian and Ukrainian war, so that European countries returned again to dependence on fossil fuels after the oil and gas cut off by Russia.

These statistics indicate that the countries of the world cannot give up oil and gas "easily".

27 . views   Added 10/26/2022 - 11:51 AM  Update 10/26/2022 - 1:03 PM

https://economy-news.net/content.php?id=30418

Low Dollar Exchange Rates In Iraq Today

Economie  2022-10-26 | 02:46  11,119 views  Alsumaria News – Economy  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in the Iraqi local markets on Wednesday.

And the selling prices of the dollar were 145.900 dinars per 100 dollars, while the purchase prices of the dollar were 145.800 dinars per 100 dollars.   LINK

Oil Prices .. Brent Is Falling, And US Crude Is Giving Up The Gains Of The Previous Session

Economie  2022-10-26 | 02:29  565 views  Alsumaria News – Economy  Oil prices fell, today, Wednesday, after industry data showed that crude stocks in the United States rose more than expected, but supply concerns limited the losses.

Brent crude futures for December were down 72 cents, or 0.8%, at $92.8 a barrel by 03:30 GMT, after closing up 26 cents in the previous session.

And futures contracts for US light sweet crude for December delivery fell 48 cents, or 0.6%, to $ 84.84, reversing the gains of the previous session.

"The possibility of a global economic slowdown and monetary tightening outweighs the specter of supply cuts in recent weeks," ANZ Research analysts said in a note.

US crude stocks rose by about 4.5 million barrels in the week ending October 21, according to market sources, citing figures from the American Petroleum Institute.

While the increase in crude inventories has fueled fears of a global recession that will reduce demand, persistent supply constraints keep prices trading in a narrow range.

"The (OPEC) production cut that takes effect from November and the new European Union sanctions on Russian oil that come into effect from December should give a boost (to prices)," said Stephen Innes, managing partner at SBA Asset Management. .

US President Joe Biden announced, last week, a plan to sell the remaining record withdrawals from the Strategic Petroleum Reserve by the end of the year, in an effort to reduce high gasoline prices.  LINK

The OPEC Oil Cut Scattered The Papers Of The US Congress Elections.. What Is The Role Of Saudi Arabia?

Economie  2022-10-26 | 05:02   Source:  Arabic 21 153 views   Alsumaria News - Economy

Experts indicated in a report to the American newspaper, The Intercept, the possibility of Saudi interference in the mid-term elections for Congress through the OPEC Plus decision to reduce oil production, which was approved by the organization at the beginning of this month.

Quote the report on Sarah Leah Whitson The executive director of the Organization for Democracy in the Arab World, said that “the Saudi crown prince is using oil very naked as a way to try to influence the midterm elections, in an effort to win over more obedient Republicans, in an attempt to show us all who is in control “the president.” Even in our democracy.

“America has artificially helped make Saudi Arabia more powerful in energy markets, by imposing export sanctions on the oil of other major producers,” said Trita Parsi, executive vice president of the Quincy Institute.

He continued, "Biden must turn the current crisis into an opportunity to reduce the United States' dependence on...Riyadh, by rethinking the failed energy sanctions on Iran and Venezuela.”

A blatant intervention

The Saudi Foreign Ministry also revealed in a statement issued in the middle of this month, that the United States requested to postpone the decision of the “OPEC Plus” group to reduce oil production “for a month,” noting that That "postponement will have negative economic repercussions."

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Which was interpreted as an attempt by Biden to prevent the impact of this decision on the results of the midterm elections, as its postponement means that it will be issued after the elections, especially as he sought during the past months to reduce fuel prices in his country to help his Democratic Party candidates.

For his part, a researcher specializing in international relations and American affairs believes, AF  Khaled Al-Tarani And that "the reduction in oil production by OPEC was in fact a clear and flagrant interference in the elections to help the pro-Trump wing in the Republican war."

Al-Tarani said that "it is not known what pressure cards Trump has against bin Salman, so that Saudi Arabia entered the line in this somewhat crude and daring way and tried to tip the balance in his favor, without fearing the consequences of this blatant interference."

He stressed that "at a time when things were going in favor of the Democratic Party, the increase in oil prices came as a result of reducing its production, which led to the confusion of the Democrats' accounts, so there is a hard-line trend within the American administration and Congress by the Democratic Party against Saudi Arabia, and this may lead to punishment Bin Salman, if the Democrats retain the Senate and the House of Representatives.”

Al-Tarani expressed his belief that "the file of Saudi-American relations is not managed by...RiyadhShe does not have the ability to manage this file with this kind of arrogance and professionalism.”

He added: “Meaning, for example, to come Joe Biden He is received by a medium-sized employee, meaning that the President of the United States is received in this way, which clearly indicates that the person who manages the file possesses security and intelligence information and secrets about how to manage things in Washington, and I do not think that Riyadh You have the information or capabilities to manage a file of this complexity and with this degree of arrogance.”

He explained that “RiyadhIt cannot manage this file, not because it does not have capabilities. Yes, it may have technocrats and experts, but the confrontation in this way with the Biden administration, I think, needs two things. First, understanding the combination within the current US administration, in addition to accessing intelligence information that protects Saudi Arabia from the consequences of these The confrontational behavior with the White House administration.”

Al-Tarani suggested that “this decision and the management of Saudi interference in the elections were made through Trump’s son-in-law Jared Kushner, who gave him two billion dollars as an investment given to him to manage despite the objection of Saudi experts. He explains that there is ambiguity in the relationship that exceeds the value of the investment.

He added: "In the sense that a year after Trump's departure from power, the New York Times reveals that Kushner has received two billion, this means that the relationship with Trump and part of his team is still continuing and that there is confidence that he and his supporters will return to the keys to power."

Failures in the American Electoral System

The talk about the existence of Saudi interference in the midterm elections brought to mind the issue of accusations leveled by Washington against Moscow about its interference in the 2016 presidential elections in favor of former President Donald Trump against his opponent, Democratic candidate Hillary Clinton.

The Biden administration accused Moscow of seeking to influence the American voter through social media and others, by spreading "rumors and lies" about his rival.

Although Moscow denied these accusations, and Saudi Arabia did this time as well, the question remains what has changed in the electoral system, which enabled other countries to interfere in the US elections, whether presidential or congressional.

Confirmed David Bateman Director of Undergraduate Studies at Cornell University's Brooks School of Public Policy, "All systems of open, free, and fair elections are vulnerable to at least some degree of outside interference, and in fact, even the United States has had a hand in interfering in democratic elections around the world."

"I have no idea if the OPEC decision is intended to influence the US election - it seems plausible at least that it has more to do with the revenue interests of OPEC producers in the context of high demand and a strong dollar," Pittman continued.

"But in general, US presidents - and their party - have long been responsible for economic performance, even if it is outside their control, and this offers the potential to influence US elections through economic measures," he added.

He added, "But most of the time the intervention, its economic or political costs, are not worth it for a country to do so, given the low probability that it will make a fundamental difference in the US elections."

He explained, "If there is an increasing vulnerability, it probably comes from the polarizing nature of US policy and the ability to effectively transmit disinformation via social media, and this is the minimum risk that countries in general have to pursue, as disinformation can be produced." It can be deployed at low cost and can be outsourced to non-state actors, but again, the potential to make a serious difference in the U.S. election in particular is limited.”

He emphasized that "political polarization makes it easier and more likely to share disinformation, but mostly by those who are actually likely to believe it."

It is likely that the Russian influence campaign will not persuade many Democrats to vote for Trump, and while it may try to encourage them not to vote at all, there are huge sums of money being spent domestically to try to get them out.

"One of the really worrying risks is the potential for the electoral systems themselves to be hacked, but the past few decades have seen massive improvements in data security in election management," he said.

In short, I am not entirely sure that the United States is more vulnerable to interference now than it has ever been, but in the end of any intervention there is no real security against because it is a possibility inherent in any open and free election, which is more than compensated. No cost to intervene.

In turn, the researcher believes in American affairs Khaled Al-Tarani [/url]  It is the election of Donald Trump as president in 2016 and his ability to be subject to influence, which led to this kind of shift in the ability of some countries to influence the American elections, which was not present previously.

He continued, "There were suspicions and some indications that there was collusion between the Trump campaign and Russia, for example, General.   Michael Flynn  Who was Trump's candidate for the position of National Security Adviser, one of the most important jobs in the White House, had meetings with Russian agents that he did not disclose and was convicted of lying to investigators and was going to serve an inevitable prison sentence until Trump pardoned him.

He added, "Also the idea of ​​the conspiracy that accompanied the election of the president The previous ones led to a kind of doubt about the electoral process and all the results and its outcomes. LINK

"Tidbits From TNT" Wednesday AM 10-26-2022

TNT:

Tishwash:  Deputy: Al-Kazemi will leave his position on Thursday noon

Independent MP Hussein Arab revealed a political agreement to pass the government of Muhammad Shia Al-Sudani next Thursday and leave the caretaker prime minister, Mustafa Al-Kazemi.

Arabs said in a press interview, "All the names announced by him aim to inflame the street against the Prime Minister-designate, Muhammad Shiaa al-Sudani, in conjunction with his official request to pass his booth next Thursday."

He added, "Al-Kazemi will leave his position on Thursday afternoon, after a comprehensive political agreement to pass the Sudanese government," noting that "all ministries have been resolved for specialists in their field of work, as well as their integrity."

Arab said, "Parliament is required to move towards legislating services and budget laws in order to serve the citizen.  link

VinterV:  25 High ranking officials arrested as they sleep for corruption and thief of government money. Also hearing a meeting last night just might have changed everything. TNT Tony #wearethepeople

CharlieOK:  Today, Monday, the representative of the Al-Fateh Alliance, Suhaila Al-Sultani, announced the hosting Governor of the Central Bank and the Minister of Finance in order to reduce the exchange rate of the dollar against the Iraqi dinar.

CharlieOK:  When I see a reference to the GOVERNOR of the CBI and the Min of Fin of Iraq in a meeting to discuss the raising of the exchange rate of the dinar, that gets my attention,…. And to be fair, Iraq being Iraq, we get another article saying............ "We ain't doin' it". Perhaps not,

CharlieOK:  This statement also definitely got my attention: "All deputies and political blocs are determined to reduce the exchange rate, and the number of deputies who signed will increase in the coming days."  The article is talking about reducing the exchange rate of the dollar in Iraq. You have to read Left Handed to understand an Iraq article,

CharlieOK:  I am believing we are starting to see signs of this ending.

RVAlready:  Charlie, yes, I think we are close, because world financial systems are about to fail. The RV/GCR is now critical.

CharlieOK:  RV: I have known for some time that there are "two sets of books" when it comes to understanding government finance. Also, because of my past experience, I am more than somewhat aware of world wide location of precious or strategic assets. That was a major hurdle for me to even get in this in the first place.

CharlieOK:  Iraq has its share, but it doesn't have more of anything than some other countries. It has taken me a long time to accept a stone age country that is at best in fifth, maybe fourth place, in assets that are discussed all the time, to be the lynch pin for anything.  But Iraq is. Why? Because of strategically using ridiculously manipulated currency values that will one day multiply itself because it is true that Iraq has a lot of assets.

RVAlready:  Also, because Iraq has little or no debt, unlike most of the other countries of the world, who are in debt up to their eyeballs.  An ocean of oil, and no debt.

RVAlready:  About 20 news articles today, saying they won’t change the exchange rate. We must be very close to the RV.

Tishwash:  I agree rvalready very interesting what's going on with the rate and all these articles

RVALready:  Proximity to the RV is inversely proportional to the number of articles denying it is about to happen….Or, depending how you view proximity, is directly proportional…. Anyhow, we’re getting real close.  I am hoping for an RV next week

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Tishwash:  The Securities and Exchange Commission begins training the cadres of the custodian banks

The Securities Commission and the Iraq Stock Exchange started a training program for the owners of Iraqi banks that participated in the custodian of one of the Arab banks. 

The Executive Director of the Iraq Stock Exchange, Taha Ahmed Abdel Salam, said in a statement to the official agency followed by (Al-Oula News): “Theoretical and practical training on the activity of the custodian in the Iraqi Stock Exchange - the Custudian Bank custodian for a number of employees of an Iraqi bank was licensed during the month. The past and for a number of employees of the Securities Commission and the Iraq Stock Exchange (ISX), the training takes place in one of the Arab banks for the period from October 24-26.” 

Abdul Salam added, “It was part of the training program to review the activity of the Dubai Financial Market (DFM) on October 25, which included a meeting between the Executive Director of the Iraq Stock Exchange and the CEO of the Dubai Financial Market Company and a dialogue about the proposed training plans to raise the skills of workers in various activities and plans Another is related to acquiring practical knowledge of recent activities that were associated with the approval of the Securities Commission during the current year.”

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Tishwash:  The Iraqi citizen complains about the high prices, despite the wealth of the state treasury

The Iraqi citizen complains about the high prices of food commodities despite the availability of liquidity in the state treasury, and according to government data, inflation rates in Iraq increased by 5.3 percent last September compared to what it was during the month of September 2021, According to the latest official statistics.

The high rate of inflation, which coincides with the decrease in purchasing power, despite the financial abundance witnessed by the Iraqi state treasury due to the rise in oil prices, is accompanied by warnings of observers and specialists in economic affairs that the continued rise in inflation may lead to a new wave of protests in the country.
The official spokesman for the ministry, Abdul-Zahra Al-Hindawi, said that the reason for the rise in inflation came as a result of the rise in the prices of a large part of food.

Economic researcher Hamza Al-Hardan said that Iraq was affected by the global crisis left by the Corona pandemic, supply problems and the increase in prices globally due to the Russian war on Ukraine.

The Iraqi citizen complains about the high prices of food commodities despite the availability of liquidity in the state treasury, and according to government data, inflation rates in Iraq increased by 5.3 percent last September compared to what it was during the month of September 2021, according to the latest official statistics .

The high rate of inflation, which coincides with the decrease in purchasing power, despite the financial abundance witnessed by the Iraqi state treasury due to the rise in oil prices, is accompanied by warnings of observers and specialists in economic affairs that the continued rise in inflation may lead to a new wave of protests in the country.
The official spokesman for the ministry, Abdul-Zahra Al-Hindawi, said that the reason for the rise in inflation came as a result of the rise in the prices of a large part of food.

Al-Hardan said that Iraq was affected by the global crisis caused by the Corona pandemic, supply problems and the increase in prices globally due to the Russian war on Ukraine.

He added that what is in the market are imported products that are directly affected by the value of the local currency against the dollar and the absence of market control and the lack of real work to control prices, stressing the importance of increasing local production, preventing monopoly, and working to increase supply further to contribute to lowering prices.

Member of the Finance Committee in the Iraqi parliament, Ahmed Al-Saffar, believes that the state, after 2003, does not have any economic and financial policy to confront inflation, and that the national economy is fragile and weak due to its primary dependence on oil revenues only.

Al-Saffar indicated that successive governments cannot do anything in the absence of monetary and financial policies, criticizing the role of the Central Bank, whose work is now limited to the currency sale window and other issues that do not achieve a balance between the monetary and financial sides.

Regarding the capabilities of the government charged with headed by Muhammad Shia Al-Sudani, Al-Saffar stressed that this government has a good program, but its provisions were talked about by all former heads of government, but they did not achieve anything from it, because of the partisan and sectarian quotas that exist in the Iraqi state.

Al-Saffar ruled out that the Sudanese would bring about any change or progress on the economic level due to the existing political interventions, imposing wills and parties’ interventions in the work of the government and the preparation and legislation of the budget, as well as the misdistribution of ministries based on sectarian and partisan basis, which leads to worse economic conditions than the years previous.

And the International Monetary Fund, in its latest report, suggested that the annual general inflation of Iraq would reach more than 4 percent this year, according to the security and political events in the region, in addition to the Corona pandemic and then the Russian war on Ukraine.   link

Mot: .... its a Marital Thingy! ~~~

Mot:  . Yet another Awesome Holiday Idea from Mot of course! ~~~

Iraqi News Highlights Tuesday Evening 10-25-22

Iraqi News Highlights Tuesday Evening 10-25-22

Tlm724 Administrator Bondlady’s Corner

Clarification From The Central Bank Regarding The Possibility Of Changing The Dollar Exchange Rate

Monday, October 24, 2022 8:14 PM Baghdad/National News Center

Approximate Translation –

The answer of the Central Bank of Iraq attached to its book No. 181 on 10/12/2022

.Addressed to the Honorable First Vice-President of the House of Representatives

It is worth noting that the decision to change the exchange rate is a strategic national decision that is not linked to circumstances progressions; And that the negative results that may have resulted from it can be avoided by lle and governmental measures To support the Abell categories and improve the vocabulary of the Tamdim card” and not to back down from this important decision.

Regarding your inquiry about the possibility of changing the current exchange rate; We would like to clarify that the exchange rate Current right a lot of positive results; Including reducing the budget deficit, which achieved a surplus in the year 1 Compared to 2020: And the fiscal space that is created for the Iraqi government as a result of the price

The current exchange will help it pay its obligations, including some of its internal and external debts

Which contributes to enhancing financial sustainability” and increasing support for the fragile classes and financing investment projects stalled.

With regard to changing the exchange rate, we would like to point out the following:

Changing the exchange rate over short periods of time exposes you to the local markets, threatens investment and creates stagnation

The economy weakens confidence in monetary policy and the value of the local currency; It also contributes to increasing the intensity

Speculation in foreign currencies and increasing their hoarding as a safe haven and a disguise of value more than currency local.

ele od | Changing the exchange rate to correct the gap between the real value of the national currency (the dinar) and the value

The nominal value is due to the fact that the dollar is calculated at a low exchange rate; Which gives a high competitive advantage to the goods  imported services; impeding the advancement of the national product; While the exchange rate hike constituted a barrier

In front of the importer, a competitive advantage for the national product is equivalent to the rate of change in the exchange rate (about 9623).

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https://nnciraq.com/159604/

Al-Sudani: The Next Government Wants To Strengthen The Relationship With America In Several Areas

Political | 04:44 - 10/25/2022  Baghdad - Mawazine News  Prime Minister-designate Muhammad Shia Al-Sudani received, on Tuesday, the US ambassador to Iraq, Alina Romanowski, and the commander of the international coalition forces, General Matthew MacFarlane, and the accompanying delegation.

A statement by Al-Sudani's office stated that "Mawazine News" received a copy of it, that "the meeting discussed the continuation of security cooperation and coordination between the two countries in the fight against terrorism within the framework of advice and training, in a manner that preserves Iraq's sovereignty and helps develop the capabilities of the Iraqi security forces."

Al-Sudani stressed, during the meeting, that "maintaining security is the mainstay of any economic reform, and expressed the future government's desire to strengthen the relationship with the United States of America, in addition to security cooperation, to include economic, cultural, scientific and other aspects."

For her part, the US ambassador and her accompanying delegation renewed her country's support for the new Iraqi government and its aspiration to expand bilateral cooperation frameworks with Iraq. General McFarlane gave a briefing on military cooperation with Iraq, stressing the importance of strengthening the trusted partnership between the two sides. Ended 29/R77

https://www.mawazin.net/Details.aspx?jimare=209225

Deputy Minister Of Finance Calls For Strengthening The Capabilities Of The Comprehensive Banking System

Today, Tuesday, Minister of Finance Hayam Neamat Mahmoud conducted an inspection tour to the National Pension Authority and the Al-Nahrain Islamic Bank, accompanied by the general managers of both the authority and the bank.

The media office of the ministry stated in a statement: "During the visit, which included the departments and people of the authority, several directives were made that will develop and enhance the tasks and functional capabilities, and intensify efforts to raise the level of services provided to the retired segment, as well as direct knowledge of the progress of the administrative and technical procedures approved in the authority." .

He added, "The minister's inspection tour included meeting with a number of auditors, and listening to their needs and observations," pointing out that the various difficulties were overcome and overcoming, and that the burdens of citizens and auditors were relieved, in accordance with the rules and regulations.

Mahmoud explained during her visit to Al-Nahrain Islamic Bank, according to the statement, that "the visit came with the aim of identifying the obstacles and diagnosing weaknesses in the performance of the banking sector, and working to overcome them by strengthening the capabilities of the comprehensive banking system, and providing its requirements to ensure the provision of the best services to the bank's customers, as well as increasing the contribution of The bank is involved in the overall economic and vital activities in the country. https://www.radionawa.com/all-detail.aspx?jimare=31829

The Appearance Of Muhammad Salih To / Nina /: It Is Better To Provide A Detailed Appendix For Managing A Sovereign Fund Within The New Budget

Tuesday 25 October 2022 12:49 | Economic Number of readings: 221

Baghdad / NINA / - The financial expert, advisor to the Prime Minister, Mazhar Muhammad Salih, suggested submitting a detailed appendix for managing a sovereign fund within the new budget.

He told the National Iraqi News Agency ( NINA ): It was suggested that the draft law on the new general budget for the year 2023 / a detailed appendix for the management of a sovereign wealth fund / be presented in the draft law for wealth / concerned with the financial abundance that accumulated during the 2022 fiscal year.

Saleh pointed out the importance of this being done with the approval of the mechanisms of the fund within the draft federal budget law itself, in order to create (legal) harmony with the text of Article 19 of the Federal Financial Management Law on the definition of the “sovereign fund” for wealth.

During the current year, Iraq achieved financial abundance as a result of the rise in oil prices, which called on deputies and specialists to make maximum use of it through strategic projects or the establishment of a sovereign fund for future generations./End 3

https://ninanews.com/Website/News/Details?Key=1009830

The Central Bank Confirms Paying "Great Care" To Financial Stability

Banks   Economy News – Baghdad   The Monetary and Financial Stability Department of the Central Bank of Iraq organized a "remote" training workshop, the first of its kind, on the "Experience of the Central Bank of Iraq in preparing indicators of financial stability and early warning", presented to the Central Bank of Libya, for the period from 24-27 October current first.

According to a statement by the Central Bank’s media office, “The workshop aims to highlight the importance of the stability of the financial system, as it is one of the main objectives that the Central Bank of Iraq must achieve and maintain, along with the stability of the general level of prices and the exchange rate, to ensure effective performance of all economic units, towards achieving sustainable economic development.

The statement added, "The workshop will also provide a presentation of the experience of the Central Bank of Iraq in developing the financial stability report and early warning report, and the most important developments that occurred in financial safety indicators, stress tests, and financial infrastructure, as well as indicators of financial inclusion in Iraq."

The Deputy Governor of the Central Bank of Iraq, during the opening of the workshop, confirmed that "the Central Bank of Iraq welcomes cooperation, communication and coordination with the Central Bank of Libya, in a way that enhances bilateral relations and exchange of experiences."

He continued, "The Central Bank of Iraq pays great attention to financial stability," noting that "climate change has occupied a part of the work of the Central Bank of Iraq and the competent institutions in Iraq, and their efforts."   170 . views   Added 10/25/2022 - 12:43 PM  Update 10/25/2022 - 5:21 PM

https://economy-news.net/content.php?id=30398

Dollar Exchange Rates Against The Dinar

Economie| 09:19 - 10/25/2022   Baghdad - Mawazine News, the dollar exchange rates fell, today, Tuesday, on the local stock exchange.

And the selling prices of the dollar were 146.300 dinars per 100 dollars, while the purchase prices of the dollar were 146.200 dinars per 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=209173

Deputy: An Upcoming Parliamentary Hosting Of The Governor Of The Central Bank And The Minister Of Finance Regarding The Reduction Of The Exchange Rate

Economie| 05:11 - 10/24/2022   Baghdad - Mawazine News, the representative of the Sadiqoon bloc, Suhaila Al-Sultani, announced today, Monday, the hosting of the Governor of the Central Bank and the Minister of Finance in order to reduce the exchange rate of the dollar against the Iraqi dinar.

Al-Sultani said, according to the media of her bloc, that "the signatures of more than 50 deputies were collected to host the governor of the Central Bank and the Minister of Finance in the new government in order to put pressure on reducing the exchange rate, even if it was in stages or gradually."

She added, "The exchange rate must be reduced because of the difficult standard of living that the Iraqi people are experiencing now and the high rate of poverty," stressing that "the representatives who signed the exchange rate cut will present a successful financial policy on which global policies are based."

And she added, "All deputies and political blocs are determined to reduce the exchange rate, and the number of deputies who signed will increase in the coming days."

A number of deputies had announced, earlier today, the collection of parliamentary signatures from all political blocs in order to work to reduce the exchange rate of the dollar. Raising the price of the dollar in a year. Ended 29 / h    https://www.mawazin.net/Details.aspx?jimare=209127

Oil Prices Rise As The Dollar Falls

Economie| 08:31 - 10/25/2022  Follow-up - Mawazine News : Oil prices rose, on Tuesday, to compensate for some of the losses of the previous session, with the decline of the US dollar, while the weak US business data reduced expectations of a further interest rate hike in the world's largest economy.

International benchmark Brent crude futures rose 23 cents to $93.49 a barrel by 04:10 GMT.

US West Texas Intermediate crude futures rose 32 cents to $84.90 a barrel.

https://www.mawazin.net/Details.aspx?jimare=209170

Al-Ghanimi Announces The Extradition Of The Accused Of Stealing Tax Deposits For Integrity

Political | 03:51 - 10/25/2022   Baghdad - Mawazine News   The Minister of Interior, Othman Al-Ghanimi, announced, on Tuesday, the handing over of the accused of stealing tax trust funds to the Integrity Commission.

Al-Ghanimi said, in a statement received by Mawazine News, that "the accused (Noor Zuhair Jassim) was handed over to the Integrity Commission to take the necessary measures against him in accordance with the law."  He added, "The Ministry of Interior is the real support and the strong arm for implementing the law." Ended 29/R77    https://www.mawazin.net/Details.aspx?jimare=20921

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

MilitiaMan Tuesday Evening "Follow The Money" 10-25-2022

KTFA:

Samson:  With 14 bags .. Al-Sudani intends to enter Parliament next Sunday to obtain confidence

25th October, 2022

The State of Law coalition confirmed, on Tuesday, the intention of the Prime Minister-designate, Muhammad Shiaa Al-Sudani, to go to the House of Representatives next Sunday to obtain confidence, noting that Al-Sudani has completed 14 ministries so far.

The leader of the coalition, Jassim Muhammad Jaafar, said in a statement to "Al-Maalouma", that "the Prime Minister-designate, Muhammad Shia' al-Sudani, tried to avoid the October demonstrations and did not specify the session during the past days, in conjunction with calls for protests." Jaafar added, "Al-Sudani has settled 14 ministries and they will be announced in the coming days and then voted on in Parliament to give the government confidence."  

He pointed out that "next Sunday will be a date for the parliament session, and after voting on 14 ministries, it will be completed comfortably during the next week." 

Independent MP Hussein Arab had confirmed in a previous statement to "Al-Maalouma", that the official announcement on the new cabinet will be next Thursday, noting that the independent representatives will not have any representation in the next Sudanese government.   LINK

~~~~~~~~~~

At Al-Abadi's house... an "important" meeting of the leaders of the coordination framework for sharing the cabinet

25th October, 2022

An informed political source said, on Tuesday, that the leaders of the comprehensive coordination framework of the Shiite forces, with the exception of the Sadrist movement, are now holding a meeting at the house of the leader in the framework Haider al-Abadi to complete the government formation.

The source told Shafaq News Agency, "An important meeting is to complete the distribution of the twelve ministerial portfolios of the Shiite component, and their sharing between the framework blocs and parties." And he indicated that "the distribution of ministries will be in coordination and consultation with the Prime Minister-designate, Muhammad Shiaa Al-Sudani."

Earlier today, the State of Law coalition led by Nuri al-Maliki revealed the number of his ministerial portfolios in the upcoming government headed by Muhammad Shiaa al-Sudani.

The leader of the coalition, Fadel Mawat, told Shafak News Agency, "According to the electoral weight, the share of the State of Law coalition in the Sudanese government is four ministries, but we have always been (Umm Al-Walid) and all of our concern is to form the government and speed up resolving this file, as we will have only two portfolios in the government." new".

And he indicated that "the State of Law coalition will have the Ministry of Higher Education, and perhaps with it the Ministry of Transport or Labor and Social Affairs, and this is subject to the dialogues that are currently taking place between the blocs and parties and the Prime Minister-designate."

While the other framework blocs got the rest of the twelve ministries,

And yesterday, Monday, the leader in the coordination framework, Fadi Al-Shammari, revealed to Shafaq News Agency, "The news that talks about the existence of a political agreement to pass half the government during a parliamentary session to be held this evening (yesterday), is incorrect and there is no such approach or agreement at all." He added, "Next Wednesday is the semi-final date for a vote of confidence in the government of Muhammad Shia al-Sudani, and government consultations for the prime minister-designate are in their final touches."  LINK

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The central bank resolves the controversy over the dollar exchange rate plan

24th October, 2022

On Monday, the Central Bank of Iraq resolved the controversy over reducing the value of the dollar against the dinar, in response to a report by a member of the Parliamentary Finance Committee, Nermin Maarouf.

Nermin said in a statement she received (Al-Oula News) a copy of, "A few days ago, as the Finance Committee in the House of Representatives, we asked the Governor of the Central Bank about rumors of a depreciation of the dollar against the dinar, in response to a report we sent."  

The deputy added, that the central bank replied, "that it does not intend to change the value of the dollar for several reasons, as the current exchange rate of the dollar achieved some positive results and reduced the government budget deficit to a good degree, although the government was able to pay off some of its internal and external debts."  

The bank explained, according to Nermin, that "changes in the dollar exchange rate in the near future will create a state of instability in the currency market, cause distrust of the dinar, negatively affect economic activity and the investment situation, and increase speculative activity in the currency."  

The bank’s answer also stated, “The devaluation of the dinar against the dollar will enhance the competitiveness of local products and reduce the demand for foreign imports.”  

The bank stated, “With regard to the negative impact of the current dollar exchange rate on people’s livelihoods, especially for the poor, the central bank believes that the government can provide aid and assistance to these groups and improve food stamps to mitigate the consequences of dollar appreciation instead of returning it to its old value.”   LINK

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

MilitiaMan:  They are clearly trying to keep everyone on the back foot for a purpose.. Just like the rehashed articles about not changing the exchange rate again (like the above), when they clearly have every intention of doing so.

There are at least 4-5 that counter the calls for not to change the exchange rate.

They printed new notes in 2018 to the tune of $500 million real close, it is the Governments program to new currency issuance and therefore, the date of the cabinet not disclosed consistently is used to keep those in expectation of that at bay until the final moment.. imo...

I like what I am seeing this week.. This month is coming to a close and the world is liking the progress. The calls for assurances have been many.

There are repercussions for not seating the government.. They all know it..  Far to costly not to get it done now.. imo ~ MM

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Harvester:  All these news articles that come in all day long IMO are like a dust storm, which I am sure Iraq is familiar with lol. But then MM posts and it is like the dust clears and we find we are still moving on the right path in the right direction. So appreciate and look forward to your afternoon posts MM. Thank you

MilitiaMan:  Thank you too. I am glad to help. Lets see what the next couple of days bring us.. From the looks of it there is serious anticipation for the GOI to have a vote on the cabinet.. There are side bar things that are going on in the Middle easy starting tomorrow..  Of which has implications to Viet Nam imo as well.. The middle east and emerging markets are going to explode again into next year. Much is likely to hinge on what we see in the short term.. Follow the money... imo ~ MM

Iraqi News Highlights Tuesday Afternoon 10-25-22

Iraqi News Highlights Tuesday Afternoon 10-25-22

Tlm724 Administrator Bondlady’s Corner

The Governor Of The Bank And The Minister Of Finance Hosted By Parliament To Reduce The Exchange Rate

October 24 16:16  information/private.  Today, Monday, the representative of the Al-Fateh Alliance, Suhaila Al-Sultani, announced the hosting  Governor of the Central Bank and the  Minister of Finance  in order to reduce the exchange rate of the dollar against the Iraqi dinar.

Al-Sultani said in an interview with Al-Maalouma, that  "the signatures of more than 50 deputies were collected to host the governor of the Central Bank and the Minister of Finance in the new government in order to pressure the reduction of the exchange rate, even if it was in stages or gradually."

She added,  The exchange rate must be reduced because of the difficult standard of living that the Iraqi people are experiencing now and the high rate of poverty,"

stressing that  "the representatives who signed the exchange rate cut will present a successful financial policy on which global policies are based."

And she added,  "All deputies and political blocs are determined to reduce the exchange rate, and the number of deputies who signed will increase in the coming days."

A number of deputies had announced, earlier today, the collection of parliamentary signatures from all political blocs in order to work to reduce the exchange rate of the dollar. The rise in the price of the dollar in the year 2020 https://almaalomah.me/news/politics/محافظ-البنك-ووزير-المالية-بضيافة-البرلمان-لخفض-سعر-الصرف

A Parliamentary Move Facing An Economic Challenge.. The Dollar Exchange Rate In Front Of Two Options, The Best Of Which Is “Bitter”!

   October 24 19:56  information /special.   Parliamentary moves appear clearly during the formation of the new government to

return the dollar exchange rate back to what it was before, to

address the economic reality that has been greatly affected by the “unfair” decision taken by the caretaker government,

but the real desire may be shocked by the economic challenges and the cost of restoring the price , which is an obstacle to his return again.

On December 19, 2020, it was officially announced that the foreign exchange rate (the US dollar) would be 145,000 dinars for every $100, according to the state’s general budget for 2021 approved by the House of Representatives.

*"return cost"

“Every action has a reaction.” Raising the dollar exchange rate must bring negative results that may appear sooner or later on the Iraqi government, and these results may cost the country trillions of dinars in return for bringing it back to what it was before.

In this regard, the economic expert, Nabil Al-Marsoumi, determined the financial cost of returning the dollar exchange rate to before the levels of 2020.

Al-Marsoumi states in a post on his Facebook page that

"the annual financial cost of restoring the dinar exchange rate to what it was before amounts to about 25 trillion dinars."

He added, "The cost is renewable every year and is not a one-time cost."

Today, Monday, the dollar exchange rates witnessed a decline in the local markets.

And the selling prices of the dollar were 146.400 dinars per 100 dollars, while the purchase prices of the dollar were 146.300 dinars per 100 dollars.

*"Parliamentary Actions"

The high cost of living due to high prices, twice what it was before the vote to raise the price of the dollar in 2020, prompted the presence of actual moves by members of the House of Representatives to lift the country’s economy out of the miserable state it reached as a result of the Al-Kazemi government’s decision.

For her part, a member of the House of Representatives, Zahra Al-Bajari, revealed that

parliamentary signatures were collected to include a paragraph to gradually reduce the price of the dollar to protect the Iraqi citizen from the unfair decision of the Al-Kazemi government to raise the price of the dollar.  And Al-Bajari indicated, in a statement received by / the information /, that

"the Iraqi parliament is starting to move towards voting on re-exchange of the dollar and gradually reducing the price to protect the consumer and the Iraqi citizen."

She pointed out that   "41 parliamentary signatures were collected to issue a parliamentary decision to reduce the price of the dollar."

In turn, the representative of the Al-Fateh Alliance, Suhaila Al-Sultani, confirmed, today, Monday, that

the House of Representatives will host the Governor of the Central Bank and the Minister of Finance in order to reduce the exchange rate of the dollar against the Iraqi dinar.

Al-Sultani said in an interview with "Al-Maalouma", that  "the signatures of more than 50 deputies were collected to host the governor of the Central Bank and the Minister of Finance in the new government in order to put pressure on reducing the exchange rate, even if it was in stages or gradually."

She added,  "The exchange rate must be reduced due to the difficult standard of living that the Iraqi people are experiencing now and the high rate of poverty,"

stressing that   "the representatives who signed the exchange rate cut will present a successful financial policy on which global policies are based."

And she added,   "All deputies and political blocs are determined to reduce the exchange rate, and the number of deputies who signed will increase in the coming days."

* Economic analysis

For his part, the economic expert, Dia Al-Mohsen, considered restoring the dollar exchange rate at the present time to be useless, and would cause a major economic shock in the Iraqi market.

Al-Mohsen said in an interview with / the information agency, that

"the issue of restoring the dollar exchange rate at the present time is useless, given that

there are no real economic justifications that give importance at the present time," noting that

"the responsibility of the Central Bank is to monitor the market and given that

the Iraqi economy is market and that

The exchange rate of the dollar is controlled by supply and demand and nothing else.

He adds,  "The Iraqi government is required to revitalize the economy and important sectors such as agriculture and industry, instead of restoring the exchange rate to what it was, which may cause a major shock that may exceed the shock that occurred in 2021."

He points out,  "There is a large abundance of foreign currencies through which the government can revive the Iraqi economy,"

noting that   "there is a lot of labor that can be put into these projects, which may generate additional revenues."

The caretaker government often prides itself on raising the financial stockpile that arrived by chance, taking advantage of the rise in international oil prices and the weight of the citizen’s priest by raising the exchange rate on him and devaluing the local currency.

The suffering facing the Iraqis does not stop at a certain limit, and it will continue until the coming of the government of “the people’s creation.”

https://almaalomah.me/news/economy/تحرك-نيابي-يواجه-تحد-اقتصادي-سعر-صرف-الدولار-أمام-خيارين-احل

The Central Bank Of (Baghdad Today): Changing The Exchange Rate Will Confuse The Market, And No One Else Has The Authority To Change It

   1,034 Economie 10/24/2022 19:49 ak   Baghdad today – Baghdad   Today, Monday, the administration of the Central Bank of Iraq confirmed that talking about returning the dollar to its previous price will confuse the market, which is a bad message for the merchant and the citizen and causes concern for everyone.

A member of the bank’s board of directors, Mazhar Muhammad Salih, told (Baghdad Today):

We say that nothing is fixed forever,

but the issue of returning the dollar against the dinar to its previous era must be done after looking at the positives more than the negatives, then it is possible to talk with the concerned authorities to move back to its previous price.”.

And Saleh indicated that   "the authority to return the dollar to the previous price is exclusively within the authority of the executive authority and the policies of the Central Bank and not the authority of any other party because we are talking about drawing up the country's fiscal policy."

The talk about restoring the exchange rate of the dollar to its previous era again in the corridors of Parliament, which prompted members of the House of Representatives to collect signatures to restore the exchange rate to its previous rate, which amounts to about 120 thousand dinars compared to the $100.   https://baghdadtoday.news/news/204191/البنك-المركزي-لـبغداد-ال

Deputy: Our Movement To Change The Exchange Rate Will Be Subject To Discussion.. And The Decision Is In The Hands Of The Central Bank

800 Policy 10/24/2022 16:57   Baghdad today – Baghdad   Deputy Mudar Al-Karawi reviewed, today, Monday, the mechanisms for returning the dollar exchange rate to its previous position,

while considering that the matter will be subject to discussion by a specialized committee, and the decision in the end belongs to the authority of the Central Bank.

Al-Karawi said in an interview with (Baghdad Today),

"The government's justification for raising the dollar exchange rate was to confront a critical financial crisis that required urgent solutions at the time,

but the situation changed with the increase in Iraq's treasury revenues, supported by oil prices, which constitute approximately 85% of the volume of public revenues over country level." He added,

"The government pledged, after raising the exchange rate, to maintain prices in the markets from speculation and to ensure the stability of the main materials,

but this did not happen and this decision constituted a drain on the pockets of millions of poor and simple people, especially since Iraq has nearly 13 million people below the poverty line." He pointed out that

"with support for the movement to reconsider the exchange rate of the dollar in Iraq, it is due to three reasons.

The first is the formation of a higher economic committee in order to objectively study the decision and give solutions that contribute to supporting the

stability of markets and

caring for the poor, in addition to

stating its pros and cons in front of public opinion according to a general perspective.".

He pointed out that   "determining the exchange rate is a decision of the powers of the executive authorities,

but its discussion by the House of Representatives is necessary in order to coordinate with the next government to develop mechanisms that contribute to alleviating the burdens caused by raising the dollar exchange rate on Iraqi markets and considering the possibility of gradually reducing it by the Central Iraqi as the competent authority.

https://baghdadtoday.news/news/204165/نائب-حراكنا-لتغيير-سعر-ا

Central Bank: There Are No Intentions To Change The Exchange Rate

Economy Yesterday, 21:38  Baghdad - I know   Today, Monday, the Central Bank of Iraq reiterated that there are no intentions to change the exchange rate.

An official source in the Central Bank told the Iraqi News Agency (INA), that

"there are no intentions to change the exchange rate."

The source called on citizens and all stakeholders to preserve the value of their money and to stay away from what is rumored in the media.    https://www.ina.iq/168572--.html

The Central Bank Of Iraq Offers A Training Workshop To The Central Bank Of Libya

October 25, 2022   Yesterday, Monday, the Monetary and Financial Stability Department of the Central Bank of Iraq organized a "remote" training workshop, which is the first of its kind, on (the experience of the Central Bank of Iraq in preparing indicators of financial stability and early warning), presented to the Central Bank of Libya, its duration from 24- October 27.

The workshop aims to highlight the importance of the stability of the financial system;

As it is one of the main goals that the Central Bank of Iraq must achieve and preserve, along with the stability of the general level of prices and the exchange rate, to ensure effective performance of all economic units, towards achieving sustainable economic development.

The workshop will also submit an offer to experience the Central Bank of Iraq in

developing the financial stability report and early warning report,

the most important developments that have occurred in financial safety indicators,

pressing conditions tests, and

financial infrastructure, as well as

indicators of financial inclusion in Iraq.

During the opening of the workshop, the deputy governor of the Central Bank of Iraq confirmed that the Central Bank of Iraq welcomes cooperation, communication and coordination with the Central Bank of Libya, in order to enhance bilateral relations and exchange experiences.  

He added:   The Central Bank of Iraq pays great attention to financial stability, noting that climate change occupied a space for the work of the Central Bank of Iraq and the specialized institutions in Iraq, and their efforts.   The Central Bank of Iraq   information Office 25- October -2022  https://cbi.iq/news/view/2111

To read more current and reliable Iraqi news please visit BondLady’s Corner:

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Dollar Decline vs. Dollar Collapse

Dollar Decline vs. Dollar Collapse

Why a dollar decline is inevitable, and a collapse is unimaginable

By Kimberly Amadeo     Updated on May 18, 2022

The U.S. dollar declines when the dollar's value is lower compared to other currencies in the foreign exchange market. This manifests itself as a decline in the dollar index. Generally, this means a foreign currency, such as the euro, can buy an increasingly large amount of dollars.

A declining dollar can also mean a fall in the value of U.S. Treasurys, which drives up Treasury yields and interest rates. Treasury note yields are the main driver of mortgage rates. It can mean that foreign central banks and sovereign wealth funds are holding fewer dollars, too. This lowers the demand for dollars.

Economic Effects of a Declining Dollar

A weaker dollar buys less in foreign goods. This increases the price of imports, contributing to inflation. As the dollar weakens, investors in the benchmark 10-year Treasury and other bonds sell their dollar-denominated holdings.

Contracts for oil and other commodities are usually denominated in dollars. As a result, historically, there has been an inverse relationship between the value of the dollar and commodities prices. Essentially, as the value of the dollar falls, the dollar-denominated prices of these commodities must rise to reflect their unchanged intrinsic value.

On the plus side, a weakening dollar helps U.S. exporters. Their goods will seem cheaper to international buyers. This boosts the United States’ economic growth, which attracts foreign investors to U.S. stocks. However, if enough investors leave the dollar for other currencies, this could cause a dollar collapse. This is largely a theoretical consideration. The probability of this development is extremely low, as discussed in the closing section of this piece.

Potential Causes of Dollar Decline

In 2010, the Foreign Account Tax Compliance Act required foreign banks and other financial institutions to disclose information regarding income and assets held by U.S. customers.1 Its goal is to root out wealthy U.S. taxpayers who are hiding money offshore on purpose.

Another aim of the law is to stop foreign banks from using tax evasion as a profitable line of business. Many people were worried that foreign banks would drop U.S. customers, to avoid compliance with the law, thereby pushing those banks away from dollar-denominated assets, which might lead to a decline in the dollar's value.

On October 16, 2013, China allowed British investors to pour $13.1 billion into its tightly restricted capital markets. This made London the first trading hub for the yuan outside of Asia. This is one way China is trying to encourage central banks to increase their holdings of the Chinese yuan. It is the biggest potential threat to the value of the dollar. China would like the yuan to replace the dollar as the world's reserve currency. Were that to happen, the dollar would lose value.

Since then, China has been devaluing the yuan against the dollar. It is doing so because its leaders are worried China's economy is growing too slowly. The devaluation objective is largely accomplished via the continual purchase of U.S. dollars by the Chinese central bank. Clearly, China’s actions have a significant impact on the value of the dollar.

Recent Declines in the Dollar's Value

 To continue reading, please go to the original article here:

https://www.thebalancemoney.com/dollar-decline-or-dollar-collapse-3306090

"Corruption and Arrests -iraqi News" Posted by Samson at KTFA

KTFA:

Samson:  Interior Minister: We arrested one of those "involved in stealing tax money" while trying to escape from Baghdad airport

24th October, 2022

Iraq is a trust in our necks and we will not allow the theft of its money or complacency in anything that affects its security, and accordingly we directed a special force of the heroes of the Ministry of Interior to arrest (Noor Zuhair Jassim) at Baghdad International Airport while he was trying to leave the country by a private plane, as I thank and appreciate the efforts of the just Iraqi judiciary, which issued the necessary approvals to accomplish this task. 

Othman Al-Ghanimi 
Minister of the Interior   LINK

Samson:  The Minister of Interior confirms.. a security force prevents the owner of the "Al-Qant" company, who is involved in "theft of tax money", from traveling

24th October, 2022

On Monday, a security force prevented one of the main suspects in the investigation for theft of tax insurance funds from traveling through Baghdad airport.

A security source told Shafak News Agency; A security force prevented Nour Zuhair, director of the "Al-Qant" company, which was involved in stealing tax department insurance funds, from boarding the plane at Baghdad Airport.

The source added; That the procedure was a travel ban only, and he was not arrested due to the lack of a judicial warrant for his arrest and summons.

Meanwhile; The Iraqi Minister of Interior, Othman Al-Ghanimi, confirmed the arrest of the director of the Al-Qant Company at Baghdad Airport.

Al-Ghanimi said in a statement received by Shafak News Agency; "We directed a special force of the Ministry of Interior's heroes to arrest (Noor Zuhair Jassim) at Baghdad International Airport while he was trying to leave the country by a private plane."

Al-Ghanimi thanked "the just Iraqi judiciary, which issued the necessary approvals to accomplish this task."   LINK

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

Samson:  The Ministry of the Interior arrests (7) wanted persons in Baghdad

25th October, 2022

The Ministry of Interior announced today, Tuesday, the arrest of (7) suspects in Baghdad, according to various legal articles.

A statement by the Ministry of Interior, received by Shafaq News Agency, said that "the detachments of the Al-Wahda Police Station in the Al-Madayn Police Department of the Baghdad Police Command arrested seven suspects, during a morning security exercise supervised by the Baghdad Police Commander, according to various legal articles."

The statement added that "the arrested suspects were escorted to the aforementioned police station to take fundamental legal measures against them in accordance with the law."   LINK

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

Samson:  Mustafa Al-Kazemi confirms that the Iraqi government will continue to fight corruption

25th October, 2022

The Iraqi caretaker prime minister, Mustafa Al-Kazemi, confirmed, on Tuesday, the government's continuation in the fight against corruption and the arrest of criminals.

Al-Kazemi said - in a tweet to him, according to Al-Iraqiya News Channel - that from the first day until the last moment, we affirm our government's continuation in the fight against corruption, exposing the corrupt and arresting the criminals

He added, "The pursuit of public money looters and bringing them to justice is an issue that has received our direct attention and close follow-up in accordance with the legal contexts in force in the implementation of judicial orders, without regard to the owners of bids, political extortion, and forgers of facts who were the basis of corruption and its defenders, and they will remain if they are not confronted politically and publicly exposed

The Iraqi Prime Minister thanked the heroes of the Ministry of Interior for their efforts and all the security services and the judiciary and its agencies, saying, "We are all working for the country and the state   LINK

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

Samson:  Mr. Al-Hakim praises the arrest of those accused of stealing tax deposits and strongly supports anti-corruption efforts

10/25/2022 11:33:56

 The head of the National State Forces Alliance, Mr. Al-Hakim, valued "the position of the responsible judiciary, the Ministry of the Interior, the security forces and the parliamentarians who contributed to revealing the details of the case of money stolen from tax insurances, and the follow-up and arrest of those accused of these major violations."

Al-Hakim affirmed in a statement that Al-Furat News received a copy of it, "his strong support for any governmental or parliamentary effort that pursues and follows up corruption files, apprehends criminals without exception, and returns the looted funds to the public treasury." He called on "all honorable, selfless and conscientious people to stand united in the face of corruption, deter corrupters and bring them to justice."

Mr. Al-Hakim affirmed that "the people aspire only to a strong government capable of curbing corruption and the corrupt, and inflicting just punishment on all those whose sinful souls tempt them to prejudice the capabilities and rights of the people."

The Ministry of the Interior and the Integrity Commission announced yesterday the arrest of Nour Al-Mudhaffar, one of the accused in the case of tax deposits deposited in the branches of the Rafidain Bank at Baghdad International Airport while he was trying to leave the country by a private plane.  LINK

Samson:  After the arrest of the main accused, a legal expert clarifies the expected penalties for tax thieves

10/25/2022 15:13:12

Legal expert Ali Al-Tamimi explained, on Tuesday, the expected penalties for tax thieves, pointing out that the confession of the arrested suspects will inevitably lead to the arrest of important figures, and these figures may deny the charges against them.

Al-Tamimi said in a statement received by {Euphrates News} that “the arrest warrants were issued in accordance with Article 444/11 of the Iraqi Penal Code, theft of state funds, a felony punishable by up to 10 years in prison with the aggravating circumstances contained therein. Emphasis is provided in this article...where the arrest warrant was followed by a ban on travel and investigation or search to seize all his money in connection with the crime. 

He continued: "I think this will be followed by placing a sign not to dispose of the movable and immovable funds of those interested, and to open the general traffic, real estate and government banks to prevent the disposal of the money until the case is resolved," noting that "the accused who were arrested, important confessions necessitate that the investigation be confidential in these cases."

 And by a decision of the investigation court, so that information does not leak to wanted persons, they will be recognized by those arrested, and this leads to their escape or the scattering of evidence.” 

He added, "Even those who fled abroad can prepare files to retrieve them as wanted persons, whether in the public prosecution or integrity, and retrieve them with the smuggled money, especially with the existence of the 2005 money laundering agreement ratified by Iraq in 2007, and that the confession of the arrested suspects will inevitably lead to the arrest of important figures and these figures may deny."

The charges brought against her, but the Code of Criminal Procedure resolved this, so it obliged the investigation court to file independent cases against them, and the accused who were recognized as a witness against them in this case .. according to Article 125 of fundamentalism, and no one is above the law. 

And he indicated, "Popular pressure was great in this case, and its important results came. In fact, the people are the source of the authorities. I think that this case will be a gateway to eliminating financial and administrative corruption in Iraq...whether internally or what is smuggled and recovering."  LINK

"Tidbits From TNT" Tuesday Morning 10-25-2022

TNT:

CandyKisses:  A Representative Of The State Of Law: The Sudanese Government Booth Is Complete, And The Voting Session Will Be On This Date

Earth News/ Representative of the State of Law coalition, Muhammad Al-Ziyadi, confirmed today, Tuesday, that the government booth of Muhammad Shi`a Al-Sudani has been fully completed, while revealing the date of the voting session on it.

Al-Ziyadi said in an interview with Earth News, "The cabinet of Muhammad Shiaa Al-Sudani has been completely completed," noting that "today it is difficult to hold a session to vote on the booth, and the session may be held tomorrow, Wednesday, or the day after tomorrow, Thursday."

Al-Ziyadi added that "the blocs that will attend the session are affiliated with the coalition of state administration, namely the Kurdistan Democratic Party, the Patriotic Union, the will and determination, the coordination framework with all its forces, and some independent blocs that will also attend to end the second constitutional chapter."

CandyKisses:  The October 25 demonstrations.. 10 security directives, most notably "live bullets" and "smoke smoke"

 The General Command of the Iraqi Armed Forces issued, on Monday evening, ten directives to the security forces regarding dealing with demonstrators and ensuring the necessary protection for them.

Demonstrations by Tishreen supporters took place on the first of this month in Al-Tahrir and Al-Nusour Squares in Baghdad, commemorating the third anniversary of their "uprising" against the current political class.

The demonstrators threatened the political class, to return on the 25th of the month, which falls on Tuesday, to commemorate the same day three years ago, which witnessed a widespread protest against the political situation in the country.

In this regard, the Personal Secretary of the Commander in Chief, Lieutenant General Muhammad Hamid, directed, according to a book issued by the office of Prime Minister Mustafa Al-Kazemi, received by Shafaq News Agency, to "prevent the use of live bullets (fire bullets and rubber gear) and smoke bombs," stressing that "any action otherwise, commanders and commanders found to have used live ammunition will be held accountable within their sphere of responsibility."

According to the book, the inspection bodies in the security and military services will inspect the units charged with protecting the demonstration yards and confirm that they are not carrying any firearm or offensive means, calling on all security and military agencies to “instruct officers, ranks, and associates to secure protection for the demonstration yards.”

According to the book, Hamid addressed the security services to "employ human, information and technical resources to accomplish the tasks entrusted to them," noting that "the numerical density is important in controlling the entrances and exits of the demonstration squares and providing protection for the demonstrators, by deploying inspection units in anticipation of any illegal weapon and its confiscation in The state of proximity to the demonstration squares, as well as the protection of government headquarters, buildings and infrastructure.

 The book issued by the Office of the Commander-in-Chief directed to “disseminate the intelligence effort to obtain proactive information by diagnosing rioters, restraint, professional and humanitarian dealings, and not to engage in friction to prevent quarrels,” stressing the need for “leaders and commanders to be at the head of their units, to take the necessary measures.” To act under the directives of the Commander in Chief.

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

Ulued:  Let 'S have fun with this one........ARE WE THERE YET

KaseyKo1:  I'm still optimistic we'll see something by the end of the month. I think there's a massive misdirection of info campaign going on from Iraq. The best thing to do is remember Kuwait & China.

Skinman:  I kind of agree with you I think the world is waiting on this for too long and the UN is putting their foot down I think will see it before the end of the month like I was told they need a rate to have a budget

RVAlready:  I can’t see a bunch of Iraqis, who are expecting an RV shortly, going out and rioting. I think everyone is hoping for a smooth road to the RV.

Skinman:  Probably the most encouraging thing I’ve heard was when they’re equivalent to speaker of the house, Said people are going to be made millionaires and billionaires of a reevaluation

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

CandyKisses:  Deputy: Al-Jubouri was brought before the judiciary in the case of theft of tax secretariats

Member of the Parliamentary Integrity Committee, Abdul Rahim Al-Shammari:
Implementation of the recruitment order issued against the accused, Haitham Al-Jubouri, currently advisor to the Prime Minister and a former member of the House of Representatives, and is currently before the court.

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

Tishwash:  The Central Bank confirms paying "great care" to financial stability

The Monetary and Financial Stability Department of the Central Bank of Iraq organized a "remote" training workshop, the first of its kind, on the "Experience of the Central Bank of Iraq in preparing indicators of financial stability and early warning", presented to the Central Bank of Libya, for the period from 24-27 October current first.

According to a statement by the Central Bank’s media office, “The workshop aims to highlight the importance of the stability of the financial system, as it is one of the main objectives that the Central Bank of Iraq must achieve and maintain, along with the stability of the general level of prices and the exchange rate, to ensure effective performance of all economic units, towards achieving sustainable economic development.

The statement added, "The workshop will also provide a presentation of the experience of the Central Bank of Iraq in developing the financial stability report and early warning report, and the most important developments that occurred in financial safety indicators, stress tests, and financial infrastructure, as well as indicators of financial inclusion in Iraq."

The Deputy Governor of the Central Bank of Iraq, during the opening of the workshop, confirmed that "the Central Bank of Iraq welcomes cooperation, communication and coordination with the Central Bank of Libya, in a way that enhances bilateral relations and exchange of experiences."

He continued, "The Central Bank of Iraq pays great attention to financial stability," noting that "climate change has occupied a part of the work of the Central Bank of Iraq and the competent institutions in Iraq, and their efforts   link

Mot: .... Always Check Halloween Candy!! ~ Ya Never KNows! ~

Mot: ~~~~~~ Atitude fur Sure! ~~~~~ 

Tuesday AM Iraq Parliament News Highlights 10-25-22

Tuesday AM Iraq Parliament News Highlights 10-25-22

Al-Mandulai Assures The American Ambassador The Importance Of Forming A Government That Meets The Aspirations Of The People And Strengthens Iraq's Relations

Political | 05:31 - 10/24/2022  Baghdad - Mawazine News, First Deputy Speaker of Parliament Mohsen Al-Mandalawi stressed, on Monday, the importance of forming a strong government that meets the aspirations of the people and promotes balanced international relations that support stability.

Al-Mandalawi's office stated in a statement that Mawazine News received a copy of it, that "the latter discussed with the American ambassador in Baghdad, Alina Romanowsky, the importance of the new government being strong and responsive to the aspirations of the Iraqi people, and seeking balanced relations at the regional and international levels, and supportive of the country's full stability, And that the House of Representatives exercise its legislative and oversight role in following up on the implementation of its duties within the government curriculum.

According to the statement, Al-Mandalawi affirmed, "The House of Representatives is keen to strengthen relations with the United States of America in the economic, political and cultural fields." Ended 29/h     https://www.mawazin.net/Details.aspx?jimare=209131

Al-Hakim Calls On Everyone To Support The Sudanese By Forming A Government Of National Service

Political | 04:16 - 10/24/2022   Baghdad - Mawazine News, the head of the Al-Hikma Movement, Ammar Al-Hakim, called for the support of the Prime Minister-designate, Muhammad Shia Al-Sudani, to form a government of national service.

Al-Hakim said in a statement received by Mawazine News, a copy of it, that "while our patient and proud people eagerly await the birth of the new government booth, we call upon all political blocs to support, support and assist the Prime Minister-designate and his ministerial team in his mission and to stand with him in forming a government of national service."

He called on everyone to "join hands and compromise in the interest of Iraq and the Iraqis, and to prioritize it over all other interests."

He continued, "We hope that the next government will do its utmost to protect Iraq and serve its people, and that it will spare no effort in the task of restoring citizens' confidence in the political process and sowing optimism in the hearts of our people in the next stage, and benefiting from the experiences of the previous stages to overcome mistakes and work to develop real and realistic solutions. Today, he is only satisfied with a national service government that achieves his legitimate aspirations.” Ended 29/h

https://www.mawazin.net/Details.aspx?jimare=209119

Al-Sudani And Al-Amiri Are Angry, And There Is No Session This Week To Announce The Government

Posted On2022-10-25 By Sotaliraq   Baghdad / Tamim Al-Hassan  It has become almost certain that the government of designate Muhammad al-Sudani will not be presented to Parliament this week, as the coordinating framework had planned.

In conjunction with that, popular activities are supposed to begin today to commemorate the third anniversary of the second wave of the Tishreen movement in 2019.

In the last chapters of the Shiite-Shiite disputes over the ministries, a prominent leader in the "framework" threatened to withdraw from the government formation process.

For the second week, conflicts over security positions and sovereign ministries continue, while warnings are being issued that Al-Sudani may apologize for his mission.

According to what is going on in closed rooms, well-informed sources told Al-Mada that "the most prominent parties to the Shiite conflict are the State of Law, Al-Fateh, Hezbollah Brigades and Asa'ib Ahl al-Haq."

According to those sources, the rounds of arms within the coordination framework "concluded with granting Nuri al-Maliki, the leader of the state of law, the Ministry of Oil at the expense of the Badr Organization."

The source speculates that the ministry will be assigned to al-Maliki's son-in-law, the head of the Al-Bashaer movement, MP Yasser Sakhel.

Al-Attar had recently launched an organized attack on the current Oil Minister, Ihsan Abdul-Jabbar, and removed him from the management of the National Oil Company and the acting Ministry of Finance.

Some of the "tyremen" accused Abdul-Jabbar of concluding suspicious contracts with some companies and distributing plots of land to senior employees in the ministry in an upscale area west of Baghdad.

The sources indicate that the rule of law's control over "oil" has caused Hadi al-Amiri, the leader of the Badr Organization, to decide to withdraw his candidate for the Ministry of Interior, Qassem al-Araji.

Al-Araji's office said in a statement on Sunday evening that "it has not issued any news about whether or not al-Araji's nomination for the position of the Ministry of Interior has been withdrawn, because Mr. al-Araji was not a candidate for this position."

He added that "everything published on news sites and pages in this regard has nothing to do with Al-Araji's media office, and it is unofficial and baseless news."

Asa'ib Ahl al-Haq (Qais al-Khazali), the rest of the coordinating framework, is wrestling for the position of Interior Minister.

Hezbollah Brigades also entered the competition line, aiming to obtain the intelligence position, and trying to remove Faleh al-Fayyad from the PMF leadership.

According to well-informed sources, the raging conflict within the coordination framework led Hadi al-Amiri to "threatening to withdraw from the government."

And Al-Amiri threatens to withdraw for the second time after he was forced last July to remove his candidate, Qassem Al-Araji, from competing for prime minister, after Al-Maliki imposed the name Al-Sudani.

Shiites are supposed to get 12 ministries out of 22 or 23, and according to the points system (electoral weights), the share of the state of law is 4 ministries (1 sovereign), while the position of Vice President of the Republic may be added to it.

As for the share of the Al-Fateh Alliance, which includes the Badr Organization, Asa’ib, the Supreme Council and Sanad Gathering, according to that system, it is 5 ministries (one sovereign).

And the worst scenario that the coordination framework fears because of the intensity of the competition is that the Sudanese "apologise" for completing the government.

On those differences, State of Law MP Aref Al-Hamami said in an interview with Al-Mada that "there are bets on the failure of this government, but it has no choice but to succeed."

Al-Hamami adds: "The Sudanese are looking for specifics for ministers, which may conflict with some of the candidates."

The deputy points out that the person in charge of forming the government "is looking for a minister who has experience in his field of work, even if he is a partisan from the first line, but at least he has knowledge and previously worked in the same specialty of the ministry."

According to leaks, the coordination framework gave Al-Sudani a deadline next week to complete his government booth.

On Sunday, Al-Sudani announced that the interviews with the candidates for the ministries "will be through a specialized committee that includes a group of consultants, and is headed by the Prime Minister-designate."

He stressed that "the candidates who have been chosen to take charge will be officially announced after the end of the interviews, and to ensure the integrity of the candidates' position on the legal aspects, and to set a date for the parliament session to gain confidence."

Representative Aref Al-Hamami says, “The Sudanese may not present all the ministries. Delayed ministries can be postponed to another stage.

The Sunni forces are also still intersected regarding the ministries, especially the ministries of defense and planning.

In a television interview, the representative of the "Azm" coalition, Ahmed al-Jubouri, attacked Parliament Speaker Muhammad al-Halbousi, against the background of distributing ministries.

Azm had previously threatened that he would obtain the position of Speaker of Parliament if he did not obtain his electoral entitlement from the ministries.

Al-Jubouri said in a television program that Al-Halbousi “asked Azm to take the Ministry of Defense and to get 5 ministries in return.”

According to the quota system, the Sunni forces' share of the total number of ministries is between 5 and 6 portfolios.

Al-Jubouri defended his alliance, calling for "the position of Deputy Prime Minister in addition to the Ministry of Defense and the Ministry of Service."

In the midst of that conflict, supporters of the "Tishreen Movement" announced that the demonstrations to be launched today, Tuesday, would be in all governorates.

According to data from the movement’s coordinators, the demonstration will start at 3 pm, stressing the commitment to peace and discipline.

In this regard, Muhammad Tawfiq Allawi, a former candidate for prime minister, commented that the demonstrators "will enter our homes in the green and drag us into the streets."

Allawi said in a tweet on Twitter that the parties' struggle led to "their pockets (referring to those parties) being filled at the expense of the common people who suffer from poverty and starvation."

Allawi cited the words of one of the former heads of government, whose name was not mentioned, in describing what is happening now, and warning against the demonstrators entering "the homes of politicians and dragging them down.   LINK

Al-Maliki To The Turkish Ambassador: The New Government Will Gain The Confidence Of Parliament Very Soon, With The Participation Of All Components

Shafaq News/ The head of the State of Law coalition, Nuri al-Maliki, said on Monday that the new government that he seeks to form, Muhammad Shia al-Sudani, will gain the confidence of Parliament very soon, with the participation of all Iraqi components.

This came during a meeting in his office with Turkey's ambassador to Iraq, Ali Reza Konai, according to a statement received by Shafaq News Agency.

According to the statement, the two sides reviewed the developments of the political and security situation in the country, as well as the bilateral relations between the two countries and aspects of cooperation in various fields, as well as cooperation in solving the water crisis that Iraq suffers from.

Al-Maliki pointed to the depth of Iraqi-Turkish relations and the need to strengthen them to serve the interests of the two neighboring countries, stressing that "Iraq seeks in the next stage to strengthen stability and cooperation with all friends and brothers."

And the head of the State of Law coalition stated that "Iraq is open to the countries of the world and seeks to invest its positive relations in the framework of providing services and providing job opportunities through the establishment of development and service projects," noting that "the new government will gain the confidence of Parliament very soon, and all components of the Iraqi people will participate in its representation." ".

Al-Maliki called on everyone to "support Iraq at the current stage in order to enhance security and peace in all countries of the region."

For his part, Ambassador Konai expressed his country's readiness to support Iraq, stressing Turkey's keenness to respect Iraq's sovereignty and territorial integrity and its desire to strengthen bilateral relations in the interest of the two friendly peoples.   LINK

Inflation Dictionary Your Guide to the Jargon

Inflation Dictionary   Your Guide to the Jargon

Here's what experts mean when talking about ‘CPI’ and 'soft landing'

By Diccon Hyatt and Medora Lee  Updated on June 10, 2022

Fact checked by Julianne Slovak

Higher and higher inflation may seem relentless, but what exactly is driving it and what can be done? Government officials and the media are abuzz with talk of things like core inflation, supply chain problems, and interest rate hikes, but these terms can be opaque, to say the least.

As prices rise faster than they have since 1981, here’s how to translate the jargon.

Inflation

Inflation is a sustained increase in the average price level of goods and services. While prices of individual products—gasoline or steak, for example—can go up or down, that doesn’t necessarily mean there’s inflation, because inflation is a broad increase in prices.

The speed at which prices increase is called the inflation rate, and that accelerated to 8.6% in May from 8.3% in April, according to the latest reading of one widely used measurement, the Consumer Price Index (see definition below).1 In other words, overall, prices in May were 8.6% higher than they were in May 2021. For context, the inflation rate has stayed around or below 3% most years since the early 1990s, and the last time it was this high was all the way back in 1981.

Because prices are rising so much faster than usual, the big question is how long it will last and what can and should be done about it.

Inflation happens when “too much money chases too few goods,” according to an old saying in economics. There’s broad debate over exactly what is causing the current inflation trend.

But some economists argue the pandemic’s shutdowns and labor shortages have caused difficulties in production and transportation that have given us the “too few goods” part of the equation, while government stimulus measures to combat the pandemic’s economic downturn have provided the “too much money” element.

To that point, the government, via the Federal Reserve, has pulled back its support to curtail the “too much money” factor, raising the cost of borrowing by increasing its benchmark interest rate. But raising the rate (see below) risks higher unemployment and hitting the brakes on economic growth, so it’s not always an easy choice. Making matters worse is the war in Ukraine, which sent the price of oil and other commodities higher amid sanctions against Russia and other supply disruptions in the region.

CPI and PCE

The Consumer Price Index (CPI) and the Personal Consumption Expenditures (PCE) price index are both government measures of consumer prices. The change in them, more often than not measured year-over-year, is inflation when it’s going up, and deflation when it’s going down.

With each index, there is a “headline” inflation rate as well as a “core” inflation rate (see definition below) that strips out prices from the volatile food and energy sectors.2 The details of how they measure price changes and what they measure are different, and explain why CPI tends to reflect more inflation than PCE.3

CPI, released by the Bureau of Labor Statistics, measures how much urban consumers pay for a basket of goods and services based on household surveys. The basket is static, measuring the price changes of the same basket each month, and only accounts for out-of-pocket expenses, so items that are not directly paid for—like Medicare or Medicaid—aren’t counted.

In contrast, the Bureau of Economic Analysis’s PCE index reflects the prices of goods and services businesses are selling. It includes those items not directly paid for by consumers, like medical care paid for by employer-provided insurance, and accounts for changing consumer choices, making the basket more variable. For example, if bread gets too expensive and people stop buying it, the weighting of bread drops in the calculation.

 To continue reading, please go to the original article here:

https://www.thebalancemoney.com/inflation-dictionary-your-guide-to-the-jargon-5206432