Awake-In-3D "Texas Takes the Lead: A Golden Future for Sovereign Digital Currency"

Awake in 3D

Texas Takes the Lead: A Golden Future for Sovereign Digital Currency

On May 25, 2023 By Awake-In-3D

Could Texas (not Reno) be the actual location of the New Republic Sovereign US Treasury?

For several years now, multiple rumors in GCR Land implied that Texas, not Reno Nevada, will be the location of the New United States Republic’s Sovereign Treasury. I’ve always considered this as a fringe viewpoint. Yet, given the constant distraction and confusion coming out of Reno, what I see happening in Texas is truly exciting. Perhaps Texas is Ground Zero for US RV/GCR activities.

Let’s take a deep dive into what Texas is doing regarding a gold-backed digital currency and explore how it could spearhead this transformative change and the positive implications it may bring.

Texas, the Lone Star State, is poised to revolutionize the world of finance with its groundbreaking proposal for a state-run digital currency. In a move that challenges the collapsing debt-based fiat currency system, Texas Senate Bill 2334 seeks to introduce a digital currency backed by gold and silver, offering an alternative that prioritizes transparency, privacy, and individual agency. This bold step has the potential to pave the way for a brighter monetary future, free from the grips of centralized control.

A Trailblazing Vision for a State-Backed Digital Currency

Texas Senate Bill 2334 is a visionary proposition that envisions a state-run digital currency backed by tangible assets like gold and silver. By adopting such a currency, Texas could become the first state in the nation to embark on this groundbreaking path, setting an inspiring precedent for others to follow. This bold move aligns with Texas’ previous establishment of a state gold depository, akin to the revered Fort Knox, which serves as a physical foundation for a gold-backed currency.

Unlocking Global Potential: Digital Currency for All

One of the most remarkable aspects of this proposal is its global reach. If the Texas digital currency becomes a reality, people from all corners of the world, not just within Texas, would have access to this innovative monetary system. Through a simple debit card, individuals could transact using this digital currency, transcending geographical boundaries. The proposed law empowers the Texas comptroller to create the digital currency, mint pure gold or silver coins based on weight, and declare them as legal tender for settling debts.

Democratizing Financial Freedom

Under the Texas digital currency plan, the debit card could be utilized worldwide wherever debit cards are accepted. This opens up a realm of possibilities for individuals outside of Texas, granting them the ability to create accounts and leverage this system, provided it complies with their local regulations. The state comptroller, supported by a trustee overseeing the program, would ensure that sufficient gold or silver reserves are held to back the digital currency units allocated to each account holder. This prudent approach strengthens the stability and credibility of the currency.

A Return to the Gold Standard: A Time-Tested System

To grasp the significance of a gold-backed digital currency, let’s delve into the gold standard. This monetary system anchors the circulating currency to gold reserves stored in government vaults. The convertibility of gold and currency prevents excessive currency creation by the government, safeguarding against market manipulation. With a return to the gold standard, money assumes a stable and unobtrusive role, no longer subject to the whims of economic policymakers. This shift diminishes economic inequality and curtails the undue influence of the wealthy over financial systems, fostering a fairer and more balanced society.

Bottom Line

Texas’ bold proposal for a state-run digital currency backed by gold and silver holds immense promise for a future founded on transparency, privacy, and individual empowerment. By spearheading this transformative change, Texas has the potential to reshape the financial landscape, inspiring others to explore alternative monetary systems that prioritize the common good. As the world looks on, the Lone Star State illuminates a path towards a golden future for digital currencies.

Reference Article

https://ai3d.blog/texas-takes-the-lead-a-golden-future-for-sovereign-digital-currency/

Iraqi News Highlights Thursday Afternoon 5-25-23

Iraqi News Highlights Thursday Afternoon 5-25-23

Tlm724 Administrator Bondlady’s Corner

Baghdad And Riyadh Are Discussing Activating Memorandums Of Understanding For The Banking Sector And Investment Opportunities In Iraq

Economy| 09:49 - 05/25/2023  Baghdad - Mawazine News, Minister of Finance, Taif Sami, discussed with the Saudi Minister of Investment, Khaled Al-Falih, openness towards developing partnership with the Kingdom in various sectors.

A statement by the Ministry of Finance stated, "Finance Minister Taif Sami met with Saudi Minister of Investment Khaled Al-Falih on the sidelines of the meetings of the Iraqi-Saudi Coordination Council in its fifth session held in the Kingdom of Saudi Arabia."

He added, "The two sides discussed common files in the fields of economy, money and investment, and openness towards developing partnership with the Kingdom in various sectors. The understanding signed between the two countries, especially with regard to the banking sector and the abundant investment opportunities in Iraq, and facilitating entry requirements for Saudi investors.

Sami stressed, "The priority is to raise the level of relations with Saudi Arabia, and raise the level of strategic and investment relations to the highest levels, support and enhance them in a way that serves the interests of the two countries and peoples in various fields."

The statement added: "A meeting of the joint business council between the two countries, and the Saudi-Iraqi economic forum, will be held on the sidelines of the session of the Coordinating Council, in the presence of a number of businessmen in the two countries." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=227631

European Minister: Representatives Of Twenty Czech Companies Are Currently Visiting Iraq To Enhance Economic Cooperation

Money  and business  Economy News / Baghdad   On Thursday, Prime Minister Muhammad Shia' al-Sudani discussed with a Czech delegation the enhancement of bilateral cooperation in the fields of agriculture, energy, health, air transport, scholarships, and ways to increase the volume of trade exchange between Iraq and the Czech Republic.

Al-Sudani said in a statement on the sidelines of his meeting with the Minister of Foreign Affairs of the Czech Republic, Jan Lipavsky, that "Iraq has overcome security difficulties, and the doors are open to fruitful partnerships with all friends," stressing that "the opportunity is available for Czech companies to contribute to government plans for infrastructure construction and modernization of services." .

He pointed out that "the government seeks to formulate a new vision between Iraq and the international coalition, based on actual need and future visions of challenges."

For his part, the Czech minister affirmed, "his country's government welcomes the Iraqi economic steps that promote stability and sustainable development," praising "the future positive direction presented by the Iraqi government."

And he indicated that "a delegation of businessmen and representatives of twenty Czech companies is currently visiting Iraq to discuss opportunities for joint economic cooperation."

Lipavsky presented "an official invitation from the President of the Czech Republic to the Prime Minister to visit the Czech Republic, in order to strengthen and strengthen bilateral relations for the benefit of the two friendly countries."   Views 69  05/25/2023 https://economy-news.net/content.php?id=34420

The Iraq Stock Exchange Ends The Week's Trading Down By 1.27%

Market  Economy News / Baghdad  The weekly indices of the Iraq Stock Exchange showed a decline in the trading index by 1.27%.

The number of shares traded during this week amounted to more than (3) billion shares, while the value of shares traded this week amounted to more than (3) billion dinars.

The trading index in the market closed for the first session of the week at (652.55) points, while the index closed at the end of the week at (644.38) points, achieving a decrease of (1.27%) from its closing at the beginning of the session.

During the week, more than (2,700) buying and selling contracts were executed on the shares of companies listed in the market.   05/25/2023 - https://economy-news.net/content.php?id=34418

Transport Announces The Start Of Applying The POS Electronic Payment System At The Ministry's Headquarters

Money  and business  Economy News / Baghdad  The Ministry of Transport announced, on Thursday, the actual implementation of the POS electronic payment system at the Ministry's headquarters and its formations, after signing an agreement with the Arab Gate Company licensed by the Central Bank of Iraq.

The Director General of the Administrative and Financial Department, Ahmed Khalaf Bunyan, said in a statement, "The implementation of this system comes to achieve quality standards in applying the latest electronic systems, according to the study, plans and programs set by the ministry to switch to the electronic payment process and keep pace with development in this field."

He added, "The terms of this agreement were prepared by the Central Bank uniformly for all state institutions, and the ministry is keen to implement them within the time limit specified by the Council of Ministers."  Views 73  Added 05/25/2023 - https://economy-news.net/content.php?id=34417

A Slight Decline In Global Oil Prices

Energy  Economy News – Baghdad  Oil prices fell slightly, Thursday, after uncertainty that America avoids a debt default was offset by the possibility of further OPEC + production cuts.

Brent crude futures fell 7 cents, or 0.09 percent, to $78.30 a barrel by 04:41 GMT.

US West Texas Intermediate crude fell 16 cents, or 0.2%, to $74.18.

Views 75  Added 05/25/2023 - https://economy-news.net/content.php?id=34401

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

https://www.bondladyscorner.com/

"Tidbits From TNT" Thursday 5-25-2023

TNT:

Tishwash:  Imposing new taxes on citizens... and warnings of their effects

The high deficit in the budget prompted the Finance Committee to go towards taxation options, which deputies believe will have a negative impact on the living conditions of citizens, while others see it as a maximization of state revenues.

The matter was settled and the discussion about imposing taxes or not ended with the Finance Committee voting to collect the fees for sales of gasoline, black oil and gas in addition to the fees for foreign travel.

The options before the Finance Committee were limited, as it tried repeatedly to reduce the volume of expenditures and reduce the percentage of the budget deficit, but it ended up going towards voting on the imposed taxes, which will negatively affect the financial situation of the citizen, according to deputies.   link

Tishwash:  Saudi Arabia expresses a "strong" desire to expand investment and economic partnerships with Iraq

On Thursday, Saudi Minister of Transport, Saleh Al-Jasser, confirmed the endeavor to expand investment and economic partnerships with Iraq.

Al-Jasser mentioned, during his speech at the launch of the work of the Coordinating Council, that there is a "serious and strong desire" from the Saudi King and the Crown Prince to "expand investment and economic partnerships in all fields and enter Iraq strongly."

He added, "They discussed strengthening international cooperation in the field of aviation security and the participation of the Iraqi side in the aviation security program in the Middle East, which was embraced by Saudi Arabia    link

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Tishwash:  Foreign Minister: The Third Baghdad Conference will focus on the economic relations of Iraq's neighboring countries 

Foreign Minister Fuad Hussein confirmed today, Thursday, that the Baghdad Conference, in its third edition, will focus on the economic relations of Iraq's neighboring countries.

The ministry's media office stated in a statement received by (Baghdad Today) that "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein received a phone call from French Foreign Minister Catherine Cologne," noting that "the two sides discussed improving bilateral relations in various fields, and ways to enhance consultation and coordination." between Baghdad and Paris," expressing his "thanks to the French government for its positions in support of Iraq in various fields."

The statement indicated that "the two sides discussed the results of the visit of Prime Minister Muhammad Shia' al-Sudani to Paris on 1/26/2023, and discussed the initial steps for preparations for the Baghdad Conference for Cooperation and Partnership in its third edition," while the Foreign Minister confirmed that "the next Baghdad conference will focus on the economic relations of countries The Iraqi neighborhood and how to transform economic integration into integration in this field.

He pointed out, "In another axis, the two ministers discussed the strategic partnership agreement that was signed during the Prime Minister's visit to Paris, and ways to start implementing it. The two sides also discussed developments in the regional situation and easing tensions between the countries of the region."

For her part, the minister praised the "development of bilateral relations between the two countries," appreciating "the work of the Ministry of Foreign Affairs in removing some obstacles in the way of the agreement between Total and the Iraqi government," expressing her "happiness with this agreement, which leads to the strengthening of Iraqi-French relations, in addition to the work The aforementioned company, especially in the field of associated gas, will increase Iraqi revenues, but will also reduce the impact of environmental risks due to flaring of gas.   link

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CandyKisses:  Economist: The Central Bank and the government are working to end (dollarization)

Baghdad - Iraq Today:

Economist Nabil Jabbar al-Tamimi confirmed that the government and the Central Bank of Iraq are working to end the phenomenon of dollarization.

Al-Tamimi said in a press interview, "There is dealing in dollars in many transactions and things inside the country, not just cars, and this is completely unacceptable."

"The paths of hard currency must be identified in certain files, which are imports only, so that it becomes a surplus in the dollar, because if dealing in dinars becomes, the citizen will not buy dollars from the market," he stressed.

He pointed out that "stability must be supported for the Iraqi dinar, so that the purchase of cars is dealt with in dinars and the dollar is dispensed with, explaining that it is an important step and will enable the stability of the market, and was absent from the sight of successive governments."

It is noteworthy that the government is trying to control the continued rise in the exchange rate of the dollar against the Iraqi dinar in the markets three months after its decision to officially raise the value of the Iraqi dinar at the rate of 1320 per dollar.

The Ministry of Interior recently banned traders and citizens from dealing in dollars in markets and shops, and limited transactions to Iraqi dinars.

Mot:  ... Yeppers! - Been There - Done That!!

Mot: .. Raising the ""Wee Folks"" has its Perks fer sure! ~~~~

Goldilocks " Deutshe Bank, SOFR, BRICS and more" Thursday 5-25-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks posted some news articles with comments this morning:

Below you will find a Pillar 3 disclosure report for the Deutsche Bank.

They are showing Capital requirements under Basel 3 compliance rules.

You will notice that the banks they work with are under Basel 3 requirements and exclusions from certain Central Bank exposures have been taken.

The Deutsche Bank reaches into Banks all over the world, and a coordinated effort is converting all banks at this time into a new commodity-based digital system.

© Goldilocks
Deutsche Bank : Pillar 3 Report Q1 2023 | MarketScreener
https://www.marketscreener.com/quote/stock/DEUTSCHE-BANK-AG-56358396/news/Deutsche-Bank-Pillar-3-Report-Q1-2023-43932578/

Countries in the East are lining up to ditch the dollar and utilize their own National Currencies backed by gold.

Russia and China are urging their New International Payment System for the East to move faster.

At this time, 41 countries want to join the SCO and BRICS system in terms of a trading currency to be utilized on a competitive level with the Euro and the Dollar. 

© Goldilocks

https://www.tasnimnews.com/en/news/2023/05/24/2900895/iran-determined-to-ditch-us-dollar-in-bilateral-transactions-with-russia-vp

https://news.bitcoin.com/china-russia-urged-to-speed-up-creation-of-cutting-edge-payment-infrastructure-for-brics-and-sco-currencies/

https://watcher.guru/news/41-countries-ready-to-accept-brics-currency

https://youtu.be/vysTTNtZDxQ

~~~~~~~~~~

The longer Banks wait to convert over to a SOFR lending system the more it's going to cost them in interest rates spreads.

They have until June 30th to complete this process, and the longer they wait the more costly it will be as well as dangerous for them in being able to remain afloat.

© Goldilocks

Regional banks face soaring term SOFR spreads - Risk.net
https://www.risk.net/derivatives/7956791/regional-banks-face-soaring-term-sofr-spreads

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Our Eastern Countries are developing a coordinated effort and payment system that will sustain them and help them grow on the International Stage.

They are nearing the point of which they can self-sustain a growing economy.

This will allow them to be competitive on the International Stage.

It is a Level Playing Field in the making.

© Goldilocks

Russia, China seal economic pacts amid Western criticism
https://www.reuters.com/world/russia-china-set-ink-bilateral-pacts-despite-western-criticism-2023-05-24/

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Intel:

There was a rumor going around yesterday that the Dinar and the Dong had recently revalued to a significantly higher rate.

Dee and I just got off the phone with a Regional Vice President of Huntington Bank in Ohio.

Here is what we found out. They do not currently hold the Iraqi Dinar and the Vietnamese Dong has not changed its value.

© Goldilocks

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Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Thursday Morning Iraq Economic News Highlights 5-25-23

Thursday Morning Iraq Economic News Highlights 5-25-23

Iraqi-Saudi Talks On Money And Economics

05-25-2023,   TAYSEER AL-ASADI   Today, Thursday, the Iraqi Ministry of Finance announced the holding of a meeting to discuss the development of mutual cooperation in the field of finance and economy.

The ministry said in a statement, received by the Noon news agency, that Minister Taif Sami met with the Saudi Minister of Investment, Khaled Al-Falih, and discussed with him joint files in the fields of economy, money and investment, and openness towards developing partnership with the Kingdom in various sectors, on the sidelines of the meetings of the Iraqi-Saudi Coordination Council in its session. Fifth, held in the Kingdom of Saudi Arabia.

The meeting witnessed, according to the statement, discussions on consolidating bilateral relations between the two friendly countries, through the development of mutual cooperation in the field of finance and economy, in addition to discussing the activation of memorandums of understanding signed between the two countries, especially with regard to the banking sector and the abundant investment opportunities in Iraq and facilitating the entry requirements of Saudi investors.

Minister Taif reiterated her priority on raising the level of relations with the brothers in the Kingdom, and raising the level of strategic and investment relations to the highest levels, supporting and strengthening them in a way that serves the interests of the two countries and peoples in various fields.

On the sidelines of the session of the Coordinating Council, according to the statement, a meeting of the joint business council between the two countries and the Saudi-Iraqi economic forum will be held, in the presence of a number of businessmen in the two countries.

In 2017, the two countries established the Saudi-Iraqi Coordination Council with the aim of strengthening relations and communication between them at the strategic level and raising bilateral relations to new horizons in various fields, including economic, development, security, investment, tourism, cultural and media, as well as coordination on international and regional issues.

https://non14.net/public/157246

Economic Distortions And Taxes.. A New Obstacle To The Budget And Solutions Are Absent

Sumerian special 2023-05-24 | 14:16  Source: Alsumaria News   1,991 views  Report - Alsumaria News   The economic situation in Iraq is witnessing a significant decline, especially after the decline in the value of the Iraqi dinar against the dollar, as well as the distortions that accompany the systems used in managing economic affairs in it and the failure to address new, organized and developed types.

For years, the Iraqi government relied on oil revenues by more than 95% of the total budget, and the budget came with a total proposed expenditure of 197.8 trillion dinars ($152.2 billion). The price of a barrel of oil is about $70 per barrel, with a financial deficit of 63 trillion dinars. ($48.5 billion), according to Prime Minister Muhammad al-Sudani, who indicated that this budget will be repeated in the next two years as well.

The General Budget Law included imposing taxes on many consumables to enhance non-oil revenues, which are very important for reducing the deficit, and also a tool for directing the economy towards economic diversification in the long term to strengthen the economy.

Indicate block head Kurdistan Democratic Party In the Iraqi parliament, Vian Sabri pointed out, "Any step taken by the federal government regarding enhancing federal revenues or that the Finance Committee in Parliament came after extensive studies, we are with it."

Sabri said in an interview with  Alsumaria News  "We, as an Iraqi state, need to enhance other non-oil revenues, given that the Iraqi budget is completely dependent on oil, so taxes must be collected from electricity, water, fuel, and others," explaining that "when the Iraqi citizen has economic stability and a real economic structure, such as the revenues of the private sector and projects investment and its rise in the budget, there will certainly be other incomes for the Iraqi individual in general.

And she added, "It is possible to see the matter in a positive or negative way if we want, but in the end the government must strengthen federal revenues because they are very important, and the rents and the federal treasury should not be based solely on oil in the event thatIraqHe owns a lot of goods, and he has agriculture and industry, and we can invest them.”

The budget included the imposition of new taxes of 5% on the revenues of sales of one liter of gasoline, and also 10% on gas or kerosene oil, and a rate of 15% on imported fuel, in addition to 1%. On black oil sales

For his part, a member of Parliament said about the bloc  Kurdistan Democratic Party  Shirvan Al-Dauberdan, in an interview with  Alsumaria News, that "balancingIraqAnd its revenues need to be maximized because of its dependence on oil by 95%, and this matter is very negative for the Iraqi economy in the near future, indicating that “putting a very small amount that does not exceed 70 dinars on fuel does not cause harm to the citizen, with a proposal to exempt taxis from it.” ".

He pointed out, "From 3-4 billion dollars annually was spent before  Ministry of Finance  To support the import of fuel,” stressing that “electricity also needs to set real collection, given that so far only 7% of the actual fees have been collected on it, while government departments only if the collection is taken correctly, it reaches 27%, and this is all considered a waste of public money.”

He added , "The government must take a real stance to collect real revenues from (tax, customs, ports, communication companies, fuel and electricity), and the ministries that rely on self-financing must take their fees from their work and not depend on the government," pointing out that "more than 10 million An Iraqi employee depends on the budget for their salaries on oil, and in the event of a drop in the price of a barrel, the government will not be able to pay it.

Al-Dobardan explained, "Modifying the salary scale of the three presidencies is not equal to anything in front of the tax revenues that the government will put in place, and there is a real review of the federal government for all aspects of the state to reduce expenditures, and there are many ministries that need great support, such as health and education, and we must move away from mobilizing the Iraqi people and go towards industrial and agricultural development.

Observers believe that these taxes will enhance non-oil revenues and raise their contribution rate to 13%, but they will be offset by a rise in the cost of transporting people and goods and a new rise in the prices of goods and services, whether produced locally or imported, and this may lead to exceeding the annual inflation rate specified in the budget. At a rate of 5%, which will have a negative impact on the standard of living of citizens.”

For his part, the independent MP and a member Legal Committee Raed Al-Maliki said, “It is expected at the beginning that the Finance Committee will reduce the percentage of the budget deficit and reduce spending in other ways, but after studying the budget items, the committee found that all the doors that help in this matter are closed,” noting that “what happened is a A transfer from some paragraphs to new ones that have been included in the budget.

Al-Maliki told Alsumaria News “The government insisted on imposing taxes and fees on oil derivatives and assigning this matter to the work of the companies that produce and distribute these derivatives, as well as the refinery companies, and this will have negative effects on the work of these companies, as well as their employees and their financial capacity.”

He added, "This decision came to reduce the percentage of the deficit in the budget, but there is no real guarantee that the matter will not fall on the citizen at the end," pointing out that "if taxes and fees are imposed on these producing companies, their revenues will decrease and they will increase the prices of products.” Which you sell to the local market even if this is not approved in the budget, given that determining the prices of oil products is not subject to budget laws, but rather to commercial standards.

Al-Maliki concluded his speech, that "the decision is to maximize the state's revenues, but all the consequences that it will cause on the citizen and the economy, as well as the institutions themselves, must be known."    LINK

Parliamentary Finance Committee: We Need Five Days Before Putting The Budget To Vote

Posted On2023-05-24 By Sotaliraq  Today, Wednesday, the Parliamentary Finance Committee revealed that there are 5 remaining articles that have not yet been voted on and need further discussion, indicating that they need an additional five days to resolve them.

Committee member Muhammad Nuri said in a press statement, “The committee voted to confirm the contracts before and after the date of 10/2/2019 and included them in the budget, and that there are other paragraphs that will be discussed to include free lecturers and other appendices to the contracts and adapt their financial and legal status.”

He explained that “the remaining paragraphs for discussion within the Finance Committee do not exceed five, including transfers and the region’s budget, and for this the committee needs a period of no more than five days for discussion before presenting the budget for voting before Parliament.”

A member of the Parliamentary Finance confirmed, “There is no disagreement regarding the region’s budget file, but rather there is a need to organize the mechanism of agreement between Baghdad and Erbil in terms of accounts, numbers, agreements, and a mechanism for collecting revenues, as well as scheduling the region’s debts.”   LINK

The Finance Committee Confirms Its Willingness To Send The General Budget Law For A Vote

Thursday 25 May 2023 09:09 | Economical Number of readings: 540  Baghdad / NINA / - The Parliamentary Finance Committee confirmed its readiness to send the general budget law to the Presidency of Parliament.

And the media department of Parliament stated: “The Finance Committee, headed by Atwan Al-Atwani and the presence of its members, held a meeting yesterday evening that lasted until late hours of the night in order to put technical notes on the federal budget law .”

The committee proceeded to complete all the remaining matters of the budget items, and the numbers are listed in the tables;In order to make transfers between amounts on spending units, according to need and population ratio, as well as the importance of increasing financial allocations in the governorates in implementation of the government program.

The committee renewed its readiness to send the budget to the Presidency of the House of Representatives to proceed with the legislation of the law as soon as possible./ Ended 7[/rtl]

https://ninanews-com.translate.goog/Website/News/Details?key=1055575&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

The American oil giant reveals the reasons for its withdrawal from Iraq

Posted On2023-05-24 By Sotaliraq   2023-05-24  The American “ExxonMobil” oil company confirmed, on Wednesday, that its exit from the “West Qurna Phase One” field was not due to costs.

And the company (Standard & Poor’s) S & P Global Commodity Insights quoted John Ardell, vice president of “Exxon Mobil” for research and exploration, as saying that “the recent moves taken by Exxon Mobil to withdraw from countries such as the West Qurna field in Iraq and Equatorial Guinea are not costly.” He pointed out that such entrances and exits are a natural part of the excavation work.

We cannot do everything everywhere, and what drives us to do it on a very active basis is to manage our investment portfolio,” Ardel said, noting that “the company will come out of places like Equatorial Guinea, like West Qurna and will grow very quickly in other countries as part of Consistent high scores.”

Exxon Mobil seeks to sell its 32.7% stake in the West Qurna / 1 field, while it recently sold part of its stake to the Indonesian company Pertamina, which owns a 10% stake in the field.

The other partners in the field are the Japanese Itochu (19.6%), the Indonesian Pertamina (10%) and the Iraqi State Oil Exploration Company (5%).

Iraq wanted to replace Exxon Mobil with another American company of no less weight and weight than it, which is seeking to get out of the field or for the Basra Oil Company to buy its share in the field.

During the year 2010, Iraq signed several contracts with international companies to develop its oil fields within the first and second licensing rounds. Those fields were mostly concentrated in the southern fields. Exxon Mobil was one of the companies that won the contract for the West Qurna field in the first phase, within a consortium of several companies.

The West Qurna field is one of the large oil fields in Iraq, and oil was extracted from it for the first time in 1973, and it is estimated that it contains oil reserves of 24 billion barrels.  LINK

A Member Of Parliamentary Finance Reveals The Latest Developments In The Budget

Political | 09:18 - 05/25/2023  Baghdad - Mawazine News, a member of the Parliamentary Finance Committee, Haitham Al-Zahwan, revealed today, Thursday, the latest developments in the draft budget law.

 Al-Zahwan said, "The items that have not been approved or voted on are the expenditures and schedules that have not yet been resolved, and if things go smoothly and without obstruction, it is possible that the end of (today's Thursday) will be completed so that the draft budget and the committee's report will be sent to the Presidency of Parliament."

And he continued, "The region's share impeded voting on the budget, as the political blocs are still entering into negotiations in this regard," ruling out that "it will be sent to parliament during the coming hours, in addition to the transfers and allocations that need a day as well."

Al-Zahwan added, in a statement followed by Mawazine News, that "the issue of the provincial funds that were received from the government has been passed, and the funds that have been added have not yet been voted on." Ended 29/N33    https://www.mawazin.net/Details.aspx?jimare=227629

Al-Halbousi: Next Saturday Is The Date For Voting On The Budget

Political | 12:57 - 05/25/2023  Baghdad - Mawazine News  Parliament Speaker Muhammad al-Halbousi announced that next Saturday will be the date for approving the federal budget.

Al-Halbousi told the parliament's media department, "The budget is in its final touches, and the Finance Committee is ready to hand over the budget today, Thursday, to Parliament."

He pointed out, "The budget law is important and includes many investment projects that will reflect positively on the service reality."

He continued, "The Finance Committee amended some items on the budget to serve the state's view in general, and also to strengthen the role of government institutions in carrying out reforms and governance in some joints."   Al-Halbousi confirmed, "The budget will be passed next Saturday."

https://www.mawazin.net/Details.aspx?jimare=227624

Awake-In-3D "The Inescapable Financial System Collapse and The Elitist Reset Solution"

Awake-In-3D

The Inescapable Financial System Collapse and The Elitist Reset Solution

On May 24, 2023 By  Awake-In-3D

There is Our GCR, and there is the Elitist Monetary Reset. This article will focus on the “bad guy” Reset so that it can be identified when ultimately revealed to the public.

The global financial system, built on debt-based currency creation, is teetering on the brink of collapse. As mounting evidence suggests an inevitable implosion, a planned Reset looms, but is it a move toward salvation or a descent into greater darkness?

The impending transition to a Central Bank digital currency could trap individuals in a system of complete control, with negative interest rates and increased taxes stifling any hope of escape. Meanwhile, the surging demand for gold and alarming bank failures hint at the magnitude of the impending crisis. Are we hurtling towards a breakdown of the monetary system, or is there still room for redemption?

The Fragile State of the Fiat Currency System

For the first time in human history, the world exclusively relies on a Fiat Currency system, shackled by mounting debt. This debt-based financial economy now displays harbingers of an irreversible collapse, heralding the necessity, and inevitability of a global financial Reset.

The Planned Elitist Reset and Its Master Intentions

The envisioned Reset, courtesy of the global elites and banksters, aims to avert a cataclysmic implosion of the financial system. However, what lies beneath the surface is a transition from bad to worse. As the precipice nears, losing confidence in the currency would trigger profound changes, posing a threat to our intricate society intertwined with the banking system. This monumental crisis would provide the perfect cover and opportunity to execute the master Reset plan.

The Prelude to Crisis: Bank Failures and Revealing Statements

The initial tremors of crisis are evident in the wake of significant bank failures. Institutions such as Silvergate, Signature Silicon Valley Bank, and First Republic have fallen under regulatory control and been absorbed by influential entities like JP Morgan. The size and scale of these failures, dwarfing those commonly cited, expose the fundamental flaws within the banking system.

The orchestration of mergers and acquisitions by governments and central banks to salvage failing institutions does not negate the fact that a failure has occurred. Bank runs loom as a genuine threat, shining a spotlight on the fraudulent and enslaving characteristics of the current monetary paradigm.

Under the prevailing system, a privileged few benefit without contributing more than they consume. Entrepreneurs, business owners, and those who drive the economy forward find themselves carrying the weight of the system. The exposure of this system’s exploitative nature, enabling fraud, theft, and currency manipulation, is gaining traction and revealing its true face.

The Perils of Central Bank Digital Currencies and Possible Trojan Horse Bait-and-Switch

The desired reset entails the implementation of Central Bank digital currencies, enabling absolute control over the populace. Once ensnared in this system, individuals will find themselves trapped, burdened with the requirement of ever-increasing currency to fulfill debt interest payments.

The stark imbalance between the existing 20 trillion dollars in currency circulation and the staggering 93 trillion dollars of U.S. public and private debt, underscores the fallacy of our current monetary structure. Yet it would not be surprising if all the talk of a U.S. Federal Reserve Bank CBDC is a bait and switch scenario. The real threat that must be understood about the Global Elitist’s plans is the consolidation of bank deposits under a single, digital ledger system.

This single monetary ledger is the key mechanism for the Great Reset plan. It is perfectly foreseeable that the CBDC is a Trojan Horse gaining all the public attention and protests while behind the scenes, amidst a bank solvency crisis, the FED rides in to save the day by publicly announcing the abandonment of their CBDC plans while quietly consolidating a public and private deposits onto a unified monetary ledger via the few largest commercial banks that survive the crisis.

Who Owns the FED?

What most are not aware of is, who actually owns the Federal Reserve Bank? The FED’s shareholders own them. Who are the FED’s shareholders? The largest commercial banks such as JPMorgan, Goldman Sachs, Citibank, Wells Fargo, Bank of America and others, which are Member Banks under the FED’s umbrella, own substantial shares of the FED. Once these banking behemoths merge with the smaller, failing banks (with FED financial assistance of course), the stage is set for a consolidated monetary ledger giving them total access to all financial transaction data. They don’t need a CBDC for that – they only need a unified account ledger.

A Central Bank Gold Rush Amidst Uncertainty

While no country currently operates with real money, the actions of central banks speak volumes. Gold, recognized as a tier one asset, holds immense appeal as the safest and most reliable store of value. Record-breaking purchases of gold by Asian central banks, coupled with China’s ban on gold exports, signal their preparation for an impending global monetary system breakdown. This indicates that gold is considered the safest, most secure, and trustworthy asset.

Adding more gold signals that they are getting ready for something. However, they are trying to prolong this process as much as possible. China, being the world’s largest gold producer, has made it illegal to export gold from the country. Additionally, China is also the world’s largest buyer of gold. The reason behind this is that they are preparing for a worst case scenario. Don’t listen to what they say, learn by what they do.

In the past, when countries were connected through trade, recessions would spread from one country to another within a few years. Today, with the global interconnection of financial systems and derivatives, any crisis can quickly impact the entire world. It doesn’t matter where the crisis originates.

Summary

As the world hurtles towards a financial precipice, the escalating signs paint a vivid picture of an impending collapse. The debt-laden Fiat Currency system teeters on the edge, while elitist and bankster plans for a Reboot and Reset raise questions about the true intentions behind such measures.

The proposed transition to Central Bank digital currencies threatens to entrap individuals in a web of control, perpetuating a cycle of increasing debt and diminished freedoms, yet an actual CBDC is not necessarily a prerequisite for this deleterious Reset. Their true goal may to simply forge a unified, monetary ledger consolidating the majority of bank deposits and data mining.

The surge in gold purchases and alarming bank failures further underline the fragility of the current system. With mainstream attention turning toward the fraudulent nature of the monetary system, the stage is set for a reckoning that could reshape the global financial landscape.

https://ai3d.blog/the-inescapable-financial-system-collapse-and-the-elitist-reset-solution/

Iraqi News Highlights Wednesday Evening 5-24-23

Iraqi News Highlights Wednesday Evening 5-24-23

Tlm724 Administrator Bondlady’s Corner

Stability Of Dollar Exchange Rates On The Local Stock Exchange

Wednesday 24, May 2023 10:58 | Economical Number of readings: 516   Baghdad / NINA / - The exchange rates of the dollar against the Iraqi dinar stabilized, today, Wednesday, on the local stock exchange.

The selling price of the dollar amounted to 147,000 dinars for 100 US dollars, while the purchase price was 145,000 dinars for 100 dollars.    https://ninanews.com/Website/News/Details?key=1055403

More Than $265 Million In Central Bank Sales Today

Economy| 12:06 - 05/24/2023  Baghdad - Mawazine News  recorded the central bank's sales of foreign currency in an auction today, Wednesday, more than 265 million dollars.   https://www.mawazin.net/Details.aspx?jimare=227562

The New Commander Of The NATO Mission: A Secure And Prosperous Iraq That Will Make Our Countries Safer And More Prosperous

Wednesday 24, May 2023 16:53 | political Number of readings: 188   Baghdad / NINA / - The new commander of the NATO mission operating in Iraq confirmed: "A secure and prosperous Iraq makes our countries more secure and prosperous." Lieutenant

General Jose Antonio said, during the official ceremony of replacing the leadership of the NATO mission operating in Iraq, today, Wednesday, in Baghdad, " Today, a Spanish commander assumes his mission as commander of the NATO mission in Iraq.. There is no significant change in the work of the mission, and continuity is the rule followed, and we continue what his predecessor started.

He explained, "All members of the alliance share the same goals and values. NATO was born because no single country could face the threats posed by external adversaries. Threats and adversaries have changed over the years, but the alliance has adapted to new challenges."

He added, "NATO consists of 31 countries and an increase of 10 countries that signed the North Atlantic Treaty in 1949, and this organization was originally intended to defend the countries located in the south of the North Atlantic, and NATO in Iraq came according to the request of his government to support the reform of the security sector," noting that " The mission is not of a combat nature, but rather to provide advice and deal with the same problems we face."

He continued, addressing the audience, "Iraqi colleagues, you have your own history, culture, and systems. It is up to the Iraqis to organize their own sector by adapting our advice to their own circumstances. We offer you the opportunity by learning from our experience. The support we provide to Iraq is also beneficial to NATO members. We live." All of us are in a world where risks cannot be limited to one country or region without others.

And the new European leader stressed: "A secure and prosperous Iraq makes our countries more secure and prosperous, and providing advice is the main task of the NATO mission in Iraq."/ End 5

https://ninanews.com/Website/News/Details?key=1055484

The Ministry Of Finance Is Examining Procedures For Approving Electronic Point Of Sale (POS) Systems In Various Economic Sectors

Tuesday 23 May 2023 23:52 | Economical Number of readings: 737  Baghdad / NINA / The Ministry of Finance discussed the procedures for approving electronic point-of-sale (POS) systems in various economic sectors.

A statement by the ministry stated, “Undersecretary of the Ministry of Finance, Masoud Haider, chaired today, Tuesday, an expanded meeting that included the general managers of the ministry’s banks and departments concerned with the project to circulate POS devices. ‘

The meeting discussed procedures for approving electronic POS systems in various economic sectors, by defining a package One of the supporting facilities is to expand the coverage of the use of these devices, which in turn will reduce cash circulation and save money.

The agent said, according to the statement, that "the ministry is seriously supportive of the government's efforts to implement the decision issued by the Council of Ministers, No. (23044) for the year 2023, which provides for the deployment of (POS) devices," noting that "the adoption of points of sale works to facilitate the government's control over the management of Its money through collecting its revenues on the one hand, and on the other hand it works on the development of the banking sector and electronic payment companies.   https://ninanews.com/Website/News/Details?key=1055343

Sudanese Advisor: The Development Path Will Provide 100,000 Job Opportunities

 May 23 22:00    Information / Baghdad  Adviser to the Prime Minister for Transportation Affairs Nasser Saleh Al-Asadi confirmed, on Tuesday, that the

development road project will provide 100,000 job opportunities as a first stage and

one million opportunities after its completion and completion, while he indicated that the

train track within the project will pass through (13) governorates.

Al-Asadi said in a statement to official television and its follower / information / that

"Prime Minister Muhammad Shia' al-Sudani made it clear more than once that

Iraq will start with a new economic approach that brings together Arab and non-Arab parties in the region, especially neighboring countries, to a sustainable economic approach that guarantees the prosperity and development of the region," noting that "The development path project is the new nerve of the Iraqi economy." 

He added, "The project will include multiple paragraphs that increase the efficiency of the performance of the Iraqi economy and the societies of neighboring countries," noting that

"the economic map in the region is an important trade exchange between East and West, and Iraq is located in an important part of this region." 

He stressed that  "the countries invited to launch the development path project confirmed their attendance at the conference of transport ministers of neighboring countries and the Gulf Cooperation Council, which will be held next Saturday and will include the launch of the project," pointing out that "these countries are interested in this important economic project." 

And he indicated that "the project is vital and will provide financial and societal sustainability, preserve the environment and open various fields," noting that "the project will provide, as a first stage, 100,000 job opportunities, and it may reach one million job opportunities upon its completion."  He pointed out that "the project will include ports, new industrial and residential cities, in addition to airports,"

explaining that "the implementation of the project will be towards the desert with the aim of reclaiming land for agriculture, industry and trade, and the train track within the project will pass through 13 governorates."

He stated that "there is no problem facing the project," noting that "Prime Minister Muhammad Shiaa al-Sudani and Minister of Transport Razzaq Muhibis al-Saadawi directly supervise the project with the smallest details." ended 25 n

https://almaalomah.me/news/economy/مستشار-السوداني:-طريق-التنمية-سيوفر-100-ألف-فرصة-عمل

Sudanese Advisor: Iraq Will Turn Into A Major Transport Station Between Asia And Europe

Today   Information/Baghdad... Advisor to the Prime Minister Hisham Al-Rikabi confirmed, on Wednesday, that the development  project will shorten the journey to 15 days by land instead of 33 days by sea. 

Al-Rikabi said, in a statement to the official agency, followed by "the information", that "the development road project is one of the major projects, as Iraq will turn into a major station for trade and a major transport station between Asia and Europe."  And he pointed out, "The project will shorten the sea voyage time from 33 to 15 days." Ended / 25

https://almaalomah.me/news/economy/مستشار-السوداني:-العراق-سيتحول-لمحطة-نقل-كبرى-بين-آسيا-وأورو

Economist: The Workers' Retirement Law Will Achieve Three Government Goals

 May 23 Information / Baghdad ..Economic expert Diaa Mohsen confirmed, on Tuesday, that the

Social Security and Workers Retirement Law will achieve three goals for the benefit of the Iraqi government and economy.

Mohsen said in an interview with Al-Maalouma, "The approval of the Social Security and Work Retirement Law represents a quantum leap in the development of the private sector, in addition to achieving three main factors that are in the interest of the Iraqi government and economy." 

He added, "The first positive factor of the law will lift the government's burden of appointment claims, because workers in the private sector will guarantee their pension rights in the future from the retirement fund."  Mohsen pointed out,

"The second factor has given the private sector the opportunity to play its role in developing its productive tools, and thus it will reflect positively on the development of the Iraqi economy, as well as its contribution to reducing the unemployment rate." 

Mohsen pointed out that "despite several observations on the law, its approval at the present time is a first step towards achieving social justice."

It is noteworthy that the House of Representatives voted last week on the Social Security and Workers Retirement Law. End / 25 pm

https://almaalomah.me/news/economy/اقتصادي:-قانون-تقاعد-العمال-سيحقق-ثلاثة-اهداف-حكومية

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

https://www.bondladyscorner.com/

Iraqi News Highlights Wednesday Afternoon 5-24-23

Iraqi News Highlights Wednesday Afternoon 5-24-23

Tlm724 Administrator Bondlady’s Corner

Confiscated 33 Years Ago.. Iraq Recovers 20 Million Dollars Of Its Money In Kuwait

Political | 03:17 - 05/24/2023   Baghdad - Mawazine News   The Iraq Money Recovery Fund announced the recovery of more than (20) million US dollars of Iraqi funds in the State of Kuwait.

Haider Hanoun, Chairman of the Fund's Board of Directors, said in a statement, which Mawazine News received a copy of, that "the fund, and within the framework of its follow-up of Iraqi funds abroad and working to recover them through diplomatic and legal means, succeeded in recovering an amount of (20,437,157) million US dollars from the funds that were Deposited in the account of the secretariats of the Embassy of Iraq in Kuwait at the National Bank of Kuwait, after reactivating the account and financing the balances.

He added, "The funds were withheld since 1990, and were subject to confiscation and account closure, and after proving and returning them, they were deposited as 'trusts' to the account of the Iraqi embassy in Kuwait, appreciating the role of the Ministry of Foreign Affairs in exerting efforts and cooperation in recovering the funds," noting that "the Central Bank The Iraqi reported that the amount was deposited in the “Iraq 2” account at the US Federal Reserve Bank.

It should be noted that the Iraq Money Recovery Fund announced in mid-May the recovery of the amount of the liquidation of a company, and the follow-up of the settlement of the amount of (80) million US dollars in the (Credit Suisse) bank. https://www.mawazin.net/Details.aspx?jimare=227583

Sudanese Advisor: The Path Of Development Will Turn Iraq Into A Major Station For Trade

Economy| 02:19 - 05/24/2023  Baghdad - Mawazine News,  the media advisor to the Prime Minister, Hisham Al-Rikabi, considered, on Wednesday, that the road project will turn Iraq into a major station for trade and a major transport station between Asia and Europe.    https://www.mawazin.net/Details.aspx?jimare=227573

The Minister Of Finance Announces The Formation Of A Committee To Prepare A Draft Economic Reform Law

Economy| 11:23 - 05/24/2023  Baghdad - Mawazine News , Minister of Finance, Taif Sami, announced, on Wednesday, the formation of a committee to review the laws that regulate commercial work, and to prepare a draft economic reform law, while revealing the results of administrative investigations and the completion of lawsuits in the Tax and Pension Commissions.

And a statement by the Ministry of Finance, received by Mawazine News, said, "The Minister of Finance, Taif Sami, chaired an expanded meeting of the committee (follow-up to reform the financial sector) concerned with following up on projects for public finance systems, electronic payment, reducing corruption phenomena, and evaluating the performance of the ministry's departments and formations."

Sami referred, according to the statement, to "a number of procedures and recommendations, including the formation of sub-committees of the National Strategy Committee for Integrity and Anti-Corruption in the ministry's departments and the establishment of a number of training workshops regarding the integrity and anti-corruption strategy in the presence of members of the Federal Integrity Commission, as well as linking the ministerial curriculum and the government program with forms previously prepared by the Integrity Commission.

She explained, "  With regard to draft laws, regulations and instructions related to the Ministry of Finance and the reduction of corruption phenomena in the tax, customs, insurance, banking and free zone sectors, the minister pointed out that "a number of internal regulations for the Ministry of Finance departments have been completed and sent to the State Council,

 and a committee has been formed to review laws that Organizing commercial work and preparing a draft economic reform law, as some of its clauses included amending some articles of laws, including the income tax law, the real estate tax law, and the customs law, in addition to an update on the draft law of the General Authority for Free Zones and the Insurance Bureau.

And she emphasized, "The ministry has prepared a specific methodological plan with a time limit to address the delay in the procedures followed in preparing the final accounts, as it sent the 2016 and 2017 accounts to the Office of Financial Supervision, while the Accounting Department was instructed to complete, take and audit the final accounts from 2018-2022 through working hours on Fridays." And Saturday, and this depends on all spending units charged with sending the deficiencies they have in the aforementioned accounts.

She pointed out, "developing a program that ensures the proper application of the amended Financial Management Law No. (6) of 2019 and the Federal General Budget Law, the implementation of the unified treasury account and the electronic financial management project IFMIS, and follow-up on the implementation of the electronic payment project (POS), as well as the automation of work in the General Tax Authority and the General Authority."

Customs, and the implementation of a package of procedures to support the retirees segment by the National Retirement Authority, which contributed to simplifying procedures for retirees, most notably the formation of teams from the authority to complete pension transactions in the ministries and conducting an electronic program to organize the work of the authority.

stated, that "

Regarding the settlement of administrative investigations and the completion of criminal cases in the Federal Integrity Commission, Sami indicated that "the ministry has prepared a preliminary report on the ministry's departments regarding the activity of the investigation committees and issues of integrity: 1- The General Authority for Taxes ... the number of investigation committees for the year 2023/ 160 settled cases/ 85 

entries Procedure and approval / 75

Penalties imposed / 75

Employees referred to court / 4

Penal lawsuits settled / 55 Civil

servant lawsuits settled / 40

Administrative court lawsuits / 2

Appeal and cassation lawsuits settled / 6

Real estate tax debt lawsuits / 15

2- The National Retirement Authority..

* Activity of investigative committees related to pension transactions and integrity issues:

Cases referred in 2023 and previous years to investigative committees / 239

files completed by the committee / 21

cases completed by the committee / 573

amount of refunds / 4,311,817,174

* The position of integrity cases in 2023 and previous years:

number of cases / 62

settled lawsuits / 8

lawsuits under investigation and legal procedures / 54

3- The situation regarding criminal and civil lawsuits in 2023 and previous years..

The number of criminal lawsuits / 503,

the amount of refunds / 1,467,321,316,

the number of civil lawsuits / 150

And she noted, "The investigation cases of the General Authority of Customs were resolved by the committees formed and in accordance with the timings specified in the orders for the formation of these committees, and the official letters and communications received from the judicial authorities, the Federal Integrity Commission and all its departments, and the Financial Supervision Bureau were answered according to the specified period, and there is no justified delay." ".

Sami stressed that "one of its priorities is to organize state real estate and protect it from encroachment and control," noting that "the ministry is following up with the state real estate department initiating electronic transformation, contracting with technical government agencies, and inventorying ownership by inventorying and registering real estate in Baghdad and the provinces." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=227558

Transportation: 10 Countries Will Participate In The Development Road Conference In Baghdad

Economy| 11:24 - 05/24/2023   Baghdad - Mawazine News   The Ministry of Transport announced, on Wednesday, the participation of 10 countries in the Development Road Conference, which is scheduled to be held next Saturday in the capital, Baghdad.

The ministry said, in a statement received by Mawazine News, that "the ministry continues its preparations for the Development Path Conference, under the guidance of the preparatory committee for the conference, which is chaired by the Minister of Transport, Razzaq Muhibis Al-Saadawi."

The ministry stated that "the countries to which the Ministry of Transport invited to attend the conference are (Saudi Arabia, Turkey, Syria, Jordan, Kuwait, Bahrain, Qatar, UAE, Oman, Iran), and all of these countries have confirmed their desire to attend and participate in the activities of the conference." .

And she added, "The conference will be held in the government palace inside the Green Zone, next Saturday (May 27), and it will last for one day only," pointing out that

https://www.mawazin.net/Details.aspx?jimare=227559

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

https://www.bondladyscorner.com/

Goldilocks "The timing of everything coming together is impeccable and certainly not a coincidence. "

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks posted some news articles with comments:

"LCH SwapClear (originally London Clearing House) is a British clearing house group that serves major international exchanges."

LCH SwapClear has just completed it's transition from Libor to SOFR.

There were two parts to this transition. The second and final transition is now over.

This transition was a multi trillion dollar conversion into a collateralized lending service backed by real assets. The first transition was 43 trillion dollars worth of assets. The second and final transition was 43 trillion dollars of assets.

LCH SwapClear converted roughly 600,000 USD Libor contracts into SOFR which is the new reference rate in USD.

LCH clears several asset classes: "commodities, securities, exchange traded derivatives, credit default swaps, energy contracts, freight derivatives, interest rate swaps, foreign exchange and Euro and Sterling denominated bonds and repos."

https://en.m.wikipedia.org/wiki/LCH_(clearing_house)#:~:text=In%20addition%2C%20LCH%20clears%20a,Sterling%20denominated%20bonds%20and%20repos. 

Going forward, this allows Forex to trade foreign currencies inside a 100% Gold Backed Exchange System recently updated with standardized digital protocols.

© Goldilocks

https://www.thetradenews.com/lch-swapclear-completes-libor-to-sofr-transition/

https://www.lch.com/services/swapclear

~~~~~~~~~~

Back in late 2021, I shared with you that Fintech would be part of our new economy.

Now, we are witnessing the formalization of Fintech in the Banking System.

Fintech and the Banking System have signed formal agreements to determine who will do what and why.

This partnership will lead us forward in the new digital banking system and create innovative asset opportunities for their customers.

Artificial Intelligence will create pathways in and through economic scenarios run on a program to determine the most profitable path forward.

© Goldilocks

https://www.jdsupra.com/legalnews/the-recipe-for-a-strong-bank-fintech-2913105/

~~~~~~~~~~

"Ripple Looking To Deploy $1,000,000,000 To Grow and Acquire Firms in Crypto Industry, Says Brad Garlinghouse"

Ripple is the banking coin that will be used in cross-border international trading around the world.

They are getting ready to give away a billion dollars worth of Ripple to liquidate the above venture.

This is coming at a time when Ripple and the SEC are finalizing their settlement case at any moment.

The timing of everything coming together is impeccable and certainly not a coincidence.

© Goldilocks

https://dailyhodl.com/2023/05/22/ripple-looking-to-deploy-1000000000-to-grow-and-acquire-firms-in-crypto-industry-says-brad-garlinghouse/

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Wednesday Morning Iraq Economic News Highlights 5-24-23

Wednesday Morning Iraq Economic News Highlights 5-24-23

Learn About The Latest Developments In The Budget

Money  and business   Economy News – Baghdad  The Parliamentary Finance Committee confirmed, on Wednesday, that most of the budget items have been decided in preparation for a vote on it.

The Parliament's media department said in a statement, "The Finance Committee, chaired by Atwan Al-Atwani and in the presence of its members, resumed a meeting to resolve some technical matters related to the federal general budget law, in preparation for submitting it to the House of Representatives."

He explained, "The committee decided to visit a delegation of its members to the Ministry of Finance to view the files that need clarification, in addition to resolving the file of lecturers and contracts after 10/2/2019, and the rest of the groups in order to adapt their conditions."

He added, "During the meeting, it hosted the head of the Martyrs Foundation, Abdul-Ilah Al-Naili, regarding the work of the commission and its budget, while Al-Naili reviewed a vision about the foundation's needs for financial allocations for the implementation of projects for the foundation's development and social programs."

He continued, "A number of proposed items and materials were discussed in order to ripen them in a way that contributes to maximizing revenues, investing resources for the state treasury, establishing projects, as well as supporting farmers who use modern irrigation systems, and voting on them."

Views 75   Added 05/24/2023 - https://economy-news.net/content.php?id=34385

The Meetings Of Al-Sudani And The Leaders Of The “Framework”: A New Date For Passing The Budget And Stopping The Disintegration Of The “State Administration”

2023-05-24 By Sotaliraq  Baghdad / Tamim Al-Hassan  Hours before the new supposed date for passing the budget, the coordinating framework is trying to control some disagreements or delay them until another time.

Information indicates that one of the "framework's" missions during the recent past was to block the way for interventions from one of the countries to destabilize consensus.

The last two days witnessed an intensification of political meetings, which amounted to 5 meetings, most of which moved Prime Minister Muhammad al-Sudani to meet with leaders.

Those meetings discussed two main issues: the budget, increasing governorate allocations, and reducing disputes.

The most prominent of these meetings was between Nuri al-Maliki, the leader of the State of Law, and Qais al-Khazali, the leader of the League, after leaks about differences between the two parties.

Commenting on these meetings, an informed political source close to the "framework" says: "It is working to impose political calm in preparation for passing the budget."

And the source, who spoke to (Al-Mada) on condition of anonymity, adds: “There are differences within some alliances in the State Administration Coalition (which includes all the main forces in Parliament).”

And he continues, "In these meetings, attempts were made to stop the interference of a country (which he did not mention specifically) that wanted to destabilize and dismantle the ruling coalition."

Iran is often mentioned in those situations, as Tehran has distinguished relations with some political parties, especially the Shiites.

What increases the chances of Tehran putting pressure on the "framework", according to observers, is the closeness of the Shiite alliance with the United States.

In the last rounds of US Ambassador Elena Romanowski, she had met with al-Maliki shortly before the latter's meeting with Khazali.

According to former members of the Dawa Party led by al-Maliki, the latter offered Romanowski help in dismantling the "militias" due to his experience in this field.[/size]

Al-Maliki had declared more than once his refusal to hand over security positions to parties that have armed wings.

He considered the position of the leader of the State of Law to be hostile to Asa'ib Ahl al-Haq, which at one time demanded the management of the intelligence service, which is still under the supervision of al-Sudani.

And in the last meeting between Al-Maliki and Al-Khazali, on Monday evening, they discussed: “Developments in the current political situation and local and regional security developments were discussed: according to a statement by the office of the first.

Shortly thereafter, al-Maliki met with Prime Minister Muhammad al-Sudani, and the two parties stressed the need for Parliament to speed up the approval of the budget, according to a government statement.

Then, on the same day, Al-Sudani met with the leader of the Wisdom Movement, Ammar Al-Hakim, and a statement was issued after the meeting, which talked about the budget.

A day earlier (last Sunday), the prime minister had met with the leader of the Al-Fatah coalition, Hadi al-Amiri, and Parliament Speaker Muhammad al-Halbousi, and the most prominent discussions were about the budget.

According to the informed source, the second part of the objectives of the recent meetings «was to increase the allocations of the provinces equally in the budget, with the exception of the share of the provinces affected by terrorism».

The source confirms that «it was agreed to double the allocations of the provinces to become 5 trillion instead of 2.5 trillion dinars».

Criticisms were of the modest percentage allocated to the governorates in the three-year budget, compared to 8 trillion dinars in the food security law, which is a financial supplement and not a budget.

On these developments, the source says, "The new date for approving the budget, after the failure of the previous dates, will be on May 25th (tomorrow, Thursday)."

And the last date may not be binding on the Finance Committee in Parliament, which believes that it may be postponed to next week.

Prior to that, it had been set for last May 17, according to a statement by the “State Administration,” and it was postponed to last Monday, and the committee did not finish resolving the differences.

It does not seem understood until now the reason behind the objections of the political forces and the coordination framework to the budget, which was supposed to have discussed the budget before sending it to parliament for many hours.

Some of the leaks that reached Al-Mada indicate that what happened can only be interpreted as "a political objection that escalated with fears of the expansion of Al-Sudani and the imminence of local elections."

According to Ahmed al-Asadi, Minister of Labor, the budget was presented to the coordination framework, the State Administration coalition and the Council of Ministers before it went to Parliament.

Al-Asadi said in an interview with one of the local stations that the budget was discussed for 3 hours in the State Administration Coalition and more than once within the coordination framework (each meeting is no less than 3 hours), and 6 hours in the Council of Ministers, which includes ministers representing political parties.

Al-Asadi stressed that "every political party had sent notes and comments on the draft law, and it was included in the budget."

The rise of Shiite objections to the budget coincided with news of the prime minister's move to make alliances outside the coordination framework with emerging parties.

News had circulated earlier, suggesting that al-Sudani would run alone with his party, the Euphrates Movement, in the local elections.

New additions to the budget

In addition, the budget is still “under study,” according to Youssef Al-Kalabi, a member of the Finance Committee in Parliament, who said that changes were made after the meetings this week.

And he stated in a statement to the official agency that the recent changes are “in transferring allocations from one ministry to another or from one ministry to a governorate, especially since there are substandard allocations.”

And he pointed out, “The committee was keen to include in the budget matters related to combating corruption and obliging ministers with regard to the issue of contracting and not collecting imports,” noting, “adding the semi-annual evaluation paragraph for the executive authorities within the budget.”

And the Parliamentary Finance Committee announced last Monday that it had discussed a number of budget items and voted on a paragraph related to the collection of fuel sales fees.

And the parliament stated in a statement that it had reviewed and reviewed: “The issue of leadership positions for those with the rank of general manager and the mechanism for granting them a five-year leave, or referral to retirement.”

And she added, “The committee voted at the same time on the item related to collecting fees for sales of gasoline, black oil and gas, and recording revenue for the state treasury, so that the selling price does not affect citizens, in addition to foreign travel fees.”

Later, Hussein Moanes, a member of the Finance Committee, announced that the committee voted to confirm contract holders who have two years or more of service, whether "paid or free."[/size]

And Moans indicated, according to platforms affiliated with the “framework”, that this is conditional on “the contractor continuing to work without interruption, regardless of the date of the contract or operation.”

And he indicated that among those included were “the awakening, lecturers and administrators in the education directorates, good news in Diyala, contracts of attribution to Umm al-Rubaie’in in Nineveh, and confirmation of Salah al-Din’s angels.”

In addition to "staff recruiting Muthanna Health Authority, the Elections Commission (election contracts), Sunni endowment guards, and 2019 lecturers."

The paragraph that was voted on also includes “contracting with veterinarians within the Veterinary Medical Graduation Law and according to the Ministry’s need.   LINK

The Parliamentary Finance Committee Confirms The Resolution Of Most Of The Budget Items In Preparation For A Vote On It

Iraq    2023-05-24  Today, Wednesday, the Parliamentary Finance Committee confirmed that most of the budget items have been decided in preparation for a vote on it.

And the media department of the Council stated in a statement, "The Finance Committee, headed by Atwan Al-Atwani and the presence of its members, resumed a meeting to resolve some technical matters related to the Federal General Budget Law in preparation for submitting it to the House of Representatives."

And he explained, "The committee decided to visit a delegation of its members to the Ministry of Finance to see the files that need clarification, as well as resolving the file of lecturers and contracts after 10/2/2019, and the rest of the groups in order to adapt their conditions."

He added, "During the meeting, she hosted the head of the Martyrs Foundation, Abdul-Ilah Al-Naeli, regarding the work of the commission and its budget, while Al-Naeli reviewed a vision about the foundation's needs for financial allocations for the implementation of projects for the foundation's development and social programs."

And he continued, "A number of proposed items and materials were discussed in order to ripen them in a way that contributes to maximizing revenues, investing resources for the state treasury, establishing projects, as well as supporting farmers who use modern irrigation systems, and voting on them."

https://kirkuktv.net/AR/Details/15448

Parliamentary Finance Confirms The Resolution Of Most Of The Budget Items In Preparation For A Vote On It

Policy   2023-05-24 | 510 views  Alsumaria News – Politics   The Parliamentary Finance Committee confirmed today, Wednesday, the settlement of most of the items of the general budget in preparation for a vote on it inside the parliament dome.

And the media department of the House of Representatives stated, in a statement received by Alsumaria News, that "the Finance Committee, headed by Atwan Al-Atwani, and in the presence of its members, resumed a meeting to resolve some technical matters related to the federal budget law, in preparation for submitting them to the House of Representatives."

She added, "The committee decided to visit a delegation of its members to the Ministry of Finance to view the files that need clarification, in addition to resolving the file of lecturers and contracts after 10/2/2019, and the rest of the groups in order to adapt their conditions."

During the meeting, the committee hosted the "Chairman of the Martyrs Foundation, Abdul-Ilah Al-Naeli, regarding the work of the commission and its budget, while Al-Naeli reviewed a vision about the institution's needs for financial allocations for the implementation of projects for the development and social programs of the institution."

  According to the statement, the statement indicated, "The committee then discussed a number of proposed items and materials in order to ripen them in a way that contributes to maximizing revenues, investing resources for the state treasury, establishing projects, as well as supporting farmers who use modern irrigation systems, and voting on them."   LINK

At A Cost Of 400 Billion.. More Than 100 Parliamentarians Are Calling For Adding The Seawater Desalination Project To The Budget (Documents)

2023-05-23 Shafaq News/ More than 100 members of the Iraqi Parliament demanded, on Tuesday, to add a paragraph for the sea water project in Basra Governorate within the general financial budget.

According to documents signed by 105 parliamentarians, they demanded that 400 billion dinars be allocated for the seawater desalination project to implement the Al-Faw thermal station with a production capacity of 3000 megawatts.

This comes at a time when the Iraqi Prime Minister, Muhammad Shia'a al-Sudani, called at the beginning of May for an "urgent" international intervention to address the low water levels of the Tigris and Euphrates rivers, while affirming his government's intention to go to "desalinate" sea water.

It is noteworthy that Iraq suffers from water scarcity as a result of the lack of rain and the decrease in water revenues in the Tigris and Euphrates rivers, which affected the agricultural plan for the current season, which shrank to 50% from what it was during the last season.   LINK

"Tidbits From TNT" Wednesday AM 5-24-2023

TNT:

CandyKisses:  Parliamentarian: Foreign presence in Iraq is unjustified. The need is gone

Information / Baghdad.

Deputy head of the Sindh National Bloc Faleh al-Khazali on Wednesday called on the government to speed up the withdrawal of all foreign forces from Iraq, stressing the lack of security need for their presence. 

Al-Khazali said in an interview with Al-Maalouma that "supporting our security forces within the budget contributes significantly to the removal of foreign forces in general and the United States in particular from Iraqi territory."

"Iraqi forces control the security situation in the country and do not need any external support to fight terrorism or impose security in the country," he said.

Al-Khazali indicated, "The government is required to expedite the implementation of the parliamentary decision to withdraw these forces and issue an official letter demanding the removal of the American forces in light of the stability of the security situation."

The representative of the Al-Sadiqun Parliamentary Bloc, Rafik Al-Salhi, had accused the US forces of undermining the security of Iraq, calling for the need to set a clear and specific timetable for the withdrawal of those forces from the country.

Tishwash:  Announcement of the participating countries in the Development Road Conference in Baghdad next Saturday

The Ministry of Transport intends to hold an international conference on the Development Road Project, under the auspices of His Excellency the Prime Minister, Eng. Mohamed Shiaa Al-Sudani, next Saturday, May 27, in the presence of representatives of ten regional countries, as well as representatives of the General Secretariat of the Gulf Cooperation Council, and the Bank international. 

The media office of the Ministry of Transport said in a press statement that the ministry continues its preparations for the Development Path Conference, under the guidance of the preparatory committee for the conference, which is chaired by His Excellency the Minister of Transport, Mr. Razzaq Muhibis Al-Saadawi.

The statement added that the countries that were invited by the Ministry of Transport to attend the conference are (Saudi Arabia, Turkey, Syria, Jordan, Kuwait, Bahrain, Qatar, UAE, Oman, Iran), and all of these countries have confirmed their desire to attend and participate in the activities of the conference.   

The statement added that the conference will be held in the government palace inside the Green Zone, next Saturday (May 27), and will last for one day only.

The statement stressed that the conference will witness the official announcement of the project in order to know the countries that seriously wish to join the project.

With regard to media coverage, the statement indicated that a press center will be on the sidelines of the conference, and there will be entry authorizations for media professionals to cover the conference in coordination with the Ministry of Transport.   link

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Tishwash:  Iraq invites international companies to develop 14 oil and gas fields and sites

The Ministry of Oil called on international companies specialized in developing oil and gas fields and sites to participate in the competition process in the new complementary and supplementary round of the fifth licensing round, which includes 14 oil and gas fields and sites.

The official spokesman for the ministry, Assem Jihad, said in a press statement that: “In connection with what was announced by the ministry in 2018 regarding the fifth licensing round, and what followed it last February in concluding contracts with the winning companies in the fifth licensing round to develop A number of border fields and exploratory sites in a number of governorates.

And he indicated that the announcement aims to enhance the ministry's goals in encouraging investment in the oil sector, in cooperation with discreet international companies. The new fields were put forward   link

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Tishwash:  Iraq seeks to revive oil "bridges" with three countries and is moving to secure its gas wealth

 Iraq seeks to revive oil pipelines with 3 Arab countries, in addition to exploiting gas associated with production operations.

"Al-Sharq Bloomberg" agency, quoting Farhad Aladdin, advisor to the Iraqi prime minister for foreign relations, said on the sidelines of the "Qatar Economic Forum" that "there are negotiations to revive a pipeline with Saudi Arabia that existed in the seventies, and there is thinking about activating an oil pipeline through Syria." In addition to the (Basra-Aqaba) pipeline, which is currently under study by consultants.

 These plans come at a time when Iraq is suffering from stopping the export of Iraqi Kurdistan's oil through the Turkish port of Ceyhan, which caused the region to lose exports estimated at 450,000 barrels per day.

With regard to re-exporting oil through the pipeline to the Turkish port of Ceyhan, Aladdin said that the Turkish side says that there are "technical problems" that impede the resumption of its work, noting at the same time that "the Turkish run-off elections may be preoccupying the interests of Turkish officials at the present time." ".

Iraq stopped exporting about 450,000 barrels per day of crude oil from the Kurdistan Region and the Kirkuk fields via a pipeline to the Turkish port of Ceyhan last March, after Iraq won an international arbitration case due to Turkey allowing Erbil to export oil without the approval of Baghdad, as Baghdad is considered Oil exports by the KRG are illegal.

Adviser to the Iraqi prime minister, he said, "The Turkish side initially asked to negotiate a fine approved by the court, estimated at $1.5 billion, but they told us later that the process of stopping the oil through Ceyhan pipelines was due to technical problems."

In terms of gas, Aladdin said that his country seeks to fully exploit the gas associated with oil production operations, which currently ranges between 1,600 and 1,800 million cubic feet of gas.

For his part, Iraqi Oil Minister Hayan Abdul-Ghani said, yesterday, Tuesday, on the sidelines of the Qatar Economic Forum, that his country has a partnership with the "Shell" company to exploit the associated gas from oil production operations in Basra.

He added, "The first phase of exploitation of about 400 million cubic feet of associated gas will be opened by the end of this month, and the second phase will be opened at the end of the year."

He continued: There is a partnership with the French company "Total" to exploit the equivalent of 600 million cubic feet of gas within 5 years.

Oil-producing countries can save additional resources amounting to $82 billion annually, if they exploit the gas burned in the air during the oil extraction process, which is called associated gas, according to "Global Data" data.

Russia, Iraq, Iran, the United States, Algeria, Venezuela and Nigeria are the seven countries that burn the most gas for nine consecutive years, since the launch of the first satellite in 2012 to track gas flaring operations, according to World Bank data.

These seven countries produce 40% of the world's oil annually, but they account for about two-thirds of associated gas flaring worldwide.   link

Mot:  . Ahah!!! - Truth is Out!! -- Heres the Real Reason that Men ....

Mot:  . LOL - Beeee Careful What Ya Ask fer!!!