Iraqi News Highlights Tuesday Afternoon 6-6-23

Iraqi News Highlights Tuesday Afternoon 6-6-23

Tlm724 Administrator Bondlady’s Corner

In Numbers.. Iraqi Central Sales Of Dollars

Economy | 02:27 - 06/06/2023   Baghdad - Mawazine News  The Central Bank's sales of foreign currency witnessed, on Tuesday, a decrease in today's trading, recording 207 million dollars.

According to the schedule of the currency sale window, the Central Bank sold during its auction today 207,331,654 dollars, which the bank covered at an exchange rate of 1305 dinars, per dollar for documentary credits and international settlements of electronic cards, and at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in cash.

Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits), amounting to 144,221,654 million dollars, while the rest, amounting to 63,110,000 million dollars, went in the form of cash sales.     https://www.mawazin.net/Details.aspx?jimare=228551

The Stability Of The Dollar Exchange Rates In The Local Markets

Economy   Tuesday, June 6, 2023 Baghdad / National News Center  Today, Tuesday, the prices of the US dollar against the Iraqi dinar witnessed stability in the local markets.

As it recorded “selling prices of 148,000 dinars per 100 dollars, while the purchase prices recorded 147,000 dinars per 100 dollars.”    https://nnciraq.com/209541/

US Ambassador: 'Corrupt' Entities Are Behind The Rise In Dollar Prices

Iraq   Tuesday, June 6, 2023   Baghdad / National News Center   Today, Tuesday, the US ambassador to Iraq, Alina Romanowski, accused entities she described as "corrupt" of being behind the rise in the exchange rate of the dollar against the dinar in the parallel market.

The ambassador responded to a question and a journalist regarding the crisis of the high exchange rate and its return to the fore. You have already indicated that the United States has nothing to do with this file. Can you elaborate more in this regard, about the causes of the crisis and what are your observations on the financial situation of Iraq?

The ambassador said, "I would not describe this issue as a crisis. I made it clear that we do not control the exchange rate, and not that the United States has nothing to do with this file. It is better to describe this issue as the side effect of an economy that is moving away from transactions based on cash circulation."

Romanowski renewed the United States' support for the efforts of the Iraqi government and the Central Bank of Iraq to combat corruption and money laundering. The restrictions imposed on these activities resulted in positive developments in the Iraqi banking sector, to include increased use by businessmen from banks and financial institutions, which helped reduce the difference between the official and unofficial exchange rates.

And she continued, “Some corrupt companies and entities were previously using forged documents and collecting requests to transfer funds abroad for fictitious purposes. Now that this activity is restricted, companies wishing to access the official dollar rate to finance imports will need to obtain bank accounts and a proper license from the Ministry of Commerce.”

And it indicated that “corrupt entities that hoard dollars for currency speculation, and companies that continue to import goods without a license through cash or informal channels, are putting pressure on the parallel exchange rate. Instead, we encourage everyone to deal within the formal banking sector and reduce the demand for money markets.”    https://nnciraq.com/209621/

The Central Bank: Directed To Build A National Lending Strategy That Will Come Into Effect In Early 2024

Economy | 11:51 - 05/06/2023   Baghdad - Mawazine News  The Central Bank of Iraq announced today, Monday, a direction to build a national strategy for lending that will come into effect at the beginning of next year 2024, and while confirming that the Riyada Bank will be a base for launching and financing small and medium enterprises, he indicated that his total initiatives amounted to more than 12 billion dollars. .

Governor Ali Al-Alaq said in a speech during a conference held by the German Agency for International Cooperation (GIZ) on the needs and priorities of actual financing for small and medium enterprises in Iraq, that “based on the role of the Central Bank of Iraq in achieving economic stability and contributing to growth and prosperity and creating job opportunities through unconventional monetary policy.”

Which has been started since 2015, and it is one of the policies pursued by some central banks in the world in order to advance economic growth. The model that aims to achieve a balance between economic development, social inclusion and environmental protection.

Al-Alaq added, "The initiatives of the Central Bank of Iraq, which are distributed between the initiative to develop small and medium projects, housing loans, renewable energy and other economic projects in the agricultural, industrial and services fields, which total more than $ 12 billion, accounted for 30 percent of the total credit in the private sector."

He explained, "The Central Bank is moving towards building a national strategy for lending, and it has reached advanced stages in terms of design, and it is expected that it will enter into force in early 2024, and aims to facilitate bank borrowing in its various forms in light of a diagnosis through weaknesses and challenges as well as opportunities and points." The force available to end this formulation is realistic."

He stressed, "The Central Bank will continue to support small and medium enterprises, which are the backbone of economic projects, revitalize the private sector, and reduce unemployment and poverty."

And he continued, "The experience of the Central Bank during the initiative to finance small and medium enterprises in the past years indicated that financing alone is not sufficient, but rather sectors, skills, and training must be strengthened and an environment suitable for the launch of projects must be created, and this is what we see from international organizations that have long experience in this field." including the German Cooperation Organization.

He pointed out, "The launch of the Al-Riyadah Bank project during the past days and work to achieve it through Iraqi banks, which will be a basis for launching and financing small and medium enterprises."

And he added, "Monetary policy tools contribute to overcoming financial crises," calling on government and private banks to "strengthen their efforts in this regard."

And the price of the relationship, "the organized efforts that try to enhance the cooperation of projects that serve development."      https://www.mawazin.net/Details.aspx?jimare=228435

Iraqi-Japanese Talks To Complete The Signing Of Agreements Related To The Oil Industries

Energy    Economy News – Baghdad   Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein stressed the need for Japanese companies to participate in the reconstruction of infrastructure.

A statement by the Ministry of Foreign Affairs said, "The Foreign Minister received the Assistant Foreign Minister of Japan, Kansuke Nagaoka, in his office in the Ministry's building in Baghdad," pointing out that "the two sides discussed bilateral relations between the two countries, and ways to enhance them to serve the interests of the two peoples."

Hussein expressed "Baghdad's aspiration for a greater role for Tokyo in various fields," stressing "the need for Japanese companies to participate in the reconstruction of infrastructure, and to provide Iraq with scientific expertise that contributes to the construction process."

The Minister of Foreign Affairs called for "encouraging investment companies to expand economic activity due to their great expertise in this field," pointing to "opening more prospects for joint cooperation and increasing the volume of trade exchange between the two countries."

Hussein stressed "the importance of the talks being held by the two sides to complete the signing of a number of agreements related to the oil industries and areas of water management and purification."

Views 67   Added 06/06/2023 - https://economy-news.net/content.php?id=34604

Global Oil Prices Fell

Tuesday 06, June 2023 09:08 | Economical Number of readings: 389  Baghdad / NINA / - Oil prices fell today, Tuesday, to give up most of the gains achieved in the last session, after Saudi Arabia and the "OPEC +" countries announced an increase in production cuts.

Brent crude futures fell 28 cents, or 0.37%, to $76.43 a barrel by 04:20 GMT. US West Texas Intermediate crude lost 34 cents, or 0.47%, to $71.81 a barrel.

And Brent rose by $ 2.6 yesterday, Monday, while US crude increased by $ 3.3, a few hours after Saudi Arabia announced that it intends to reduce its production by one million barrels per day to 9 million barrels per day in July, according to Reuters.

This voluntary cut, the largest cut decided by Saudi Arabia in years, comes in addition to a broader agreement by the “OPEC +” alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, to limit supply in an effort to support crude prices.

The "OPEC +" alliance pumps about 40% of global crude oil production. / End 7

https://ninanews.com/Website/News/Details?key=1057926

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16 Asian Countries Express Interest to Ditch the US Dollar and Accept BRICS

16 Asian Countries Express Interest to Ditch the US Dollar and Accept BRICS

Tuesday, 6 June 2023, 1:48 AM

BRICS is moving at a rapid pace to sideline the U.S. dollar and promote their native currencies for global trade. Around 41 countries have expressed their interest to join the BRICS alliance and accept the new currency for cross-border transactions. Russia and China are convincing many other countries to enter the bloc to dethrone the U.S. dollar.

 The USD’s global reserve status is being challenged by developing nations and could send the greenback on a path of decline.

16 Asian Countries Ready to Accept BRICS, Ditch the U.S. Dollar

10 ASEAN countries have agreed to stop trading in the U.S. dollar and will use native currencies for cross-border settlements. ASEAN is a bloc of 10 countries compromising Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.

The ASEAN alliance put a declaration in place avoiding the U.S. dollar for settlements and advancing the local currency usage. The Eastern countries are taking steps to end reliance on the dollar and create a new global financial order.

On the other hand, the Gulf Cooperation Council (GCC) countries are following suit with the ASEAN bloc. Member nations of GCC Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates have expressed their interest to join BRICS. In addition, Saudi Arabia is in talks to fund the BRICS bank, commonly called The New Development Bank (NDB).

If Saudi Arabia funds the BRICS bank, the alliance could receive an economic boost and sideline the U.S. dollar. The move could attract many other countries to accept the BRICS currency and stop trading with the dollar altogether. Read here to know more details on why Saudi funding the BRICS bank is dangerous to the American economy.

BRICS is an acronym for Brazil, Russia, India, China, and South Africa. The decision to launch a new currency will be jointly taken in the next summit in South Africa in August.

Source: Watcher.Guru

https://dinarchronicles.com/2023/06/06/16-asian-countries-express-interest-to-ditch-the-us-dollar-and-accept-brics/ v

Tuesday Morning Iraq Economic News Highlights 6-6-23

Tuesday Morning Iraq Economic News Highlights 6-6-23

Adviser To The Prime Minister Sends A Message To Members Of Parliament Regarding The Vote On The Budget Law

Political    Baghdad -Today, Tuesday, the advisor to the Prime Minister, Diaa al-Nasseri, sent a message to members of parliament regarding voting on the budget law.

Al-Nasseri said in a tweet, followed by the Iraqi News Agency (INA): "The time has come for the people's representatives to say their word inside the parliament dome, not outside it, by voting on the tripartite budget 2023-2024-2025."

And he added, "Enough with compliments and procrastination by playing on words and letters, and the region's oil must be fully exported in accordance with the law and the constitution, and let this be the first reform in 20 years in the history of budgets."   https://www.ina.iq/186850--.html

A Political Bloc Warns Of An Article In The Budget

Today, Tuesday, the head of the National Approach bloc, Ammar Tohme, warned of a dangerous article on the Iraqi economy that was included in the 2023 budget draft.

Tohme said, in a statement, that “the draft budget for the year 2023 stipulates in Article (2)-b-paragraph (5) that :slight_frown: for ministries and governorates to open the door to investment and partnership with the private sector, and a committee is formed to prepare special instructions for them and grant them exceptions from relevant laws to be issued by the Council. Ministers), and this involves many risks and violations, including:

1. The article refers to the permissibility of partnership with the private sector, which is absolute and may include the participation of the local or foreign investor in the ownership of existing or built projects such as the Al-Faw port, electricity production stations, factories and laboratories of the Iraqi state, agricultural assets, infrastructure for the communications sector, and minerals such as phosphates, sulfur, mercury, copper, uranium... This is a waste of the state's strategic financial service resources.

2. The aforementioned article refers to the Council of Ministers issuing instructions to make an exception to the laws in force, and that includes suspending the laws in force or amending their contents other than the constitutional powers that are confined to Parliament. The legislative power is one of the competences of Parliament and may not be delegated or granted to the executive authority.

3. According to this article, the Council of Ministers can issue instructions that cancel what was included in the Investment Law of 2006, which in Article (29) of it prohibited privatization activities in the fields of oil and gas extraction and the government banking sector, and the ownership of these natural wealth becomes available to investors, merchants and influential people in the political scene! ! While such wealth is absolutely not subject to personal ownership by virtue of the constitution and fair principles.

4. What increases the concern about the existence of this article in the budget law is what was included in the basics paper for preparing the budget on its eighth page, as it stipulated (completing the financial and administrative reform processes, especially with regard to restructuring the Rasheed and Rafidain Banks and the rest of the government banks ... in a way that contributes to the advancement of the economy and revitalization of private investment) and structuring In one sense, it means privatizing these banks and selling their shares or some of them to merchants and businessmen! Especially since the end of the article referred to the activation of private investment.

5. Among the effects of applying this article is opening the door to the privatization of public production and distribution companies and providing the infrastructure for service ministries on which the state has spent tens of billions of dollars over many years and offering it at the cheapest price to investors, so they share in its ownership.

6. It follows from this article that the will of a few people (politically and financially influential) influence the state’s strategic, economic and service decisions, and control the political, economic and administrative decision of the country.   https://takadum-news.com/archives/167772

Deputy: Important Projects Are Threatened With Extinction Due To The Delay In Approving The Budget

 A member of the Parliamentary Transportation and Communications Committee, Zuhair Shahid Al-Fatlawi, warned, on Monday, against delaying the completion of important and stalled projects, especially transportation projects, due to the delay in approving the budget.

Al-Fatlawi said, in a press interview seen by “Takadum”, that “the delay in approving the budget negatively affects the completion of stalled and delayed projects and the new projects announced by the government.”

He added, "The delay will hit the investment sector and investors and will contribute to widespread unemployment among young people," noting that "there is a parliamentary movement to speed up the approval of the budget and improve the economy and investment in Iraq."

He pointed out that "many of the lagging and stalled projects have not been completed so far due to the delay in approving the budget, as well as the new projects announced by the government, including roads and bridges."    https://takadum-news.com/archives/167718

Parliamentarian: The Budget Will Be Passed In A Way That Does Not Satisfy The Deputies.. What Is The Relationship Of The Leaders Of The Blocs?

Today, Monday, a member of the House of Representatives, Adnan Al-Jabri, made a request regarding the mechanism for voting on the 2023 budget bill, and while it was likely that the voting date would be prolonged, he confirmed that the budget would be passed in a way that did not satisfy the representatives.

Al-Jabri said in a press interview seen by “Takadum” that “passing the federal budget law inside the dome of Parliament must be far from the influence of the leaders of the political blocs by putting pressure on their members in the House of Representatives.”

He added, “The vote on the budget is likely to be prolonged; As a result of the influence of the leaders of the political blocs on some deputies,” noting that “the political consensus will pass the budget in a way that may not satisfy the deputies.”

And regarding the position of the representatives of the southern governorates regarding the session to pass the budget, Al-Jabri stressed that “the representatives of the center and the south will not vote on the budget until after fairness to their governorates,” pointing out that “the budget law did not do justice to the governorates of the south, especially Basra.”  https://takadum-news.com/archives/167714

A Parliamentarian Determines The Duration Of The Implementation Of The Budget: It Will Be Passed During The Current Week

Today, Monday, a member of the House of Representatives, Jawad Al-Ghazali, confirmed the possibility of presenting and voting on the budget inside the parliament dome during the current week, and while specifying the time required to initiate it, he confirmed the existence of popular appeals to expedite its approval.

Al-Ghazali said in a press interview seen by Taqaddam, “There are calls and appeals from the Iraqi people to expedite the approval of the budget, and according to the information received, it will be sent and voted on, under the dome of parliament during the current week.”

He added, "The issue of passing the budget has become an urgent necessity for the people, especially since all the basic requirements for the advancement of service work and state departments depend on it, as it entered the second half of the current year, and so far it has not been approved."

The member of the House of Representatives explained, “The implementation of the budget needs more than a month to be approved and published,” noting that “delaying voting negatively affects government work, and in the end the people have reactions and disgust at the government’s performance.”    https://takadum-news.com/archives/167735

Because Of The Region's Disputes.. Al-Marsoumi: The Budget May Not Be Passed This Year

Economic expert Nabil Al-Marsoumi predicted, on Monday, the inability of the political forces to pass the general budget law during the current year, while stressing that the deepening of the differences with the Kurdistan region regarding several files may hinder the vote on the law.

Al-Marsawi said in a press interview, which was reviewed by “Takadam”, that “the budget has lost part of its effectiveness as a result; Its approval and the passage of the first half of the year have been disrupted,” noting that “the deepening of differences with the Kurdistan region regarding several files will disrupt the vote on the law, which means the continuation of the suffering of its passage.”

He continued, "The Kurdistan Democratic Party still rejects the Finance Committee's amendments to several paragraphs, most notably the control of oil exports and the delivery of its revenues, as well as the Federal Court's decision on the unconstitutionality of the Kurdistan Parliament, which deepened the dispute between the two Kurdish parties," pointing out that "we expect the inability of the political forces to Passing the general budget law during the current year, which will keep Iraq without a budget for the second year in a row.

The share of the region and some paragraphs related to Kurdistan are still a matter of controversy, as they have become a stumbling block in the way of completing the budget and placing it on the agenda for the purpose of voting on it, given the great differences between the two ruling parties in the region.

https://takadum-news.com/archives/167712

A Member Of The Democrat Talks About The Possibility Of Postponing The Approval Of The Budget Until After The Holiday

Money  and business  Economy News – Baghdad   A member of the Kurdistan Democratic Party, Wafaa Muhammad Karim, said on Monday that not approving the budget this week means that it will be postponed until after Eid al-Adha.

"There are still understandings and discussions between the Kurdistan Democratic Party and the government regarding the points of contention over the share of the Kurdistan region in the budget," Karim said in a statement to "Euphrates News" agency, followed by "Al-Iqtisad News".

Karim added, "Some of them have been agreed upon and others are still, as signatures were collected to hold the voting session on the budget tomorrow, Tuesday."

He continued, "We are awaiting the official announcement and the final agreement with the region about holding the session," adding that "not approving the budget this week means postponing it until after Eid al-Adha."  434 views  06/05/2023 - https://economy-news.net/content.php?id=34594

Officially.. Parliament Sets The Date For The Session To Vote On The Budget

Policy  2023-06-06 | 5,305 views  Alsumaria News – Politics  The House of Representatives has set next Thursday as the date for the voting session on the public financial budget.

The media department of the House of Representatives stated in a statement received by Alsumaria News, that "it was decided to hold a voting session on the budget law next Thursday."

Thursday's meeting agenda is below:   LINK

Parliament Sets The Date For The Session To Vote On The Budget

Money  and business  Economy News _ Baghdad  The House of Representatives has set, next Thursday, a date for voting on the tripartite budget bill.

The session’s agenda included, according to the media department of the parliament, “voting on the draft federal budget law for the years (2023, 2024, 2025).  https://economy-news.net/content.php?id=34601

Member Of Parliamentary Finance: The Government Will Face A "Major Problem" During The Next Year

Money  and business   Economy News – Baghdad  Today, Monday, a member of the Parliamentary Finance Committee, Jamal Cougar, expressed his hope that oil prices will remain high to "save the budget and the country."

Cougar stated, "The government will face a major deficit problem during the next year, because oil prices may trend downward, on the one hand, and on the other hand, the government has 23 trillion dinars rounded up from last year, and the surplus will be withdrawn during the current year."

He added, "It is expected that next year's budget will be for salaries only with the same deficit," noting that "the operational budget alone has reached 140 trillion dinars, in contrast, the state's resources are 134 trillion dinars, which is not even sufficient for the operational budget."

In an interview with the official newspaper, Cougar expressed his hope that "oil prices will remain high to save the budget and the country."  Views 388   06/05/2023 -https://economy-news.net/content.php?id=34590

"Tidbits From TNT" Tuesday Morning 6-6-2023

TNT:

Tishwash:  Close more than 20 smuggling corridors between Iraq and Iran

 A local official in Diyala said today, Tuesday, that the border forces have embarked on a comprehensive security plan to close illegal smuggling corridors and ports in the east of the province, specifically in the border areas adjacent to Iran.

The director of the Qazaniyah district (115 km east of Baquba), Mazen Akram Al-Khuzai, told Shafaq News agency, that the engineering effort and the formations of the border forces continue to close more than 20 passages and smuggling outlets, distributed in the Qazaniyah district and the Mandali district, indicating that the corridors are used, part of them for smuggling livestock and the other part for smuggling drugs.

And he indicated that the smuggling corridors are spread along the border strip between Mandali and Qazania and the Iranian side over a length of more than 40 km, indicating that the closure plan included barbed wire, control towers, monitoring and treatment of voids between the border posts to reduce smuggling operations.

The Iraqi government launched a comprehensive plan to address and end border smuggling operations with Iran, with internal security measures and other coordination and intelligence measures with the Iranian side.

The phenomenon of smuggling has emerged through the regions of Mandali and Qazania, east of Diyala, in recent years, and is practiced by influential parties or groups linked to political forces and parties.  link

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CandyKisses:  "Credit Cards". A new trick to smuggle dollars out of Iraq

Despite the strict measures taken by the US Treasury Department and the Central Bank of Iraq and the development of several controls, the means of smuggling hard currency out of Iraq have multiplied, including bank credit cards, which are behind organized bodies as described by specialists.

In a new ploy to bypass government control, smuggling gangs follow the method of filling dozens of bank credit cards with large amounts of Iraqi dinars and converting them into dollars at the official government rate abroad, as influential parties were able to withdraw varying funds from the dollar currency in neighboring countries.

Salam Mohammed, an economist, confirmed to Shafaq News Agency that "the great restriction placed by the US Treasury and the Central Bank of Iraq on the parties that were smuggling currency abroad made them create new ways to smuggle currency," explaining "Now there are smuggling operations behind them influential parties that smuggle currency through bank credit cards through the forgery of smuggler dozens of bank credit cards, which carry large financial accounts, the smuggler converts the dollar at the government exchange rate and transports the dollar out of the country."

"Failure to control such types of smuggling will make hard currency unstable in the markets, and this requires setting a filter for bank card holders or determining the mechanism for granting them according to very precise controls," Salam said.

The Directorate of Border Ports said earlier that the use of bank credit cards to smuggle dollars is a new tactic, after its cadres tightened security measures at land border crossings and international airports to reduce the smuggling of dollars (cash) out of Iraq.

In this regard, Salah Al-Wandi, who works at one of the border crossings with one of the neighboring countries, said in a statement to the Shafaq News Agency that "currency smuggling has become easy in light of the smugglers' innovation of new ways to smuggle currency, stressing that "credit card holders are smuggling currency through Baghdad, Najaf and Basra airport, as well as land ports with neighboring countries."

"The US Treasury Department and the Central Bank of Iraq have previously imposed strict controls on cash transfers carried out by Iraqi banks in an attempt to curb money laundering and smuggling, but smuggling operations are witnessing a diversity of ways and means of currency exit, which poses a great danger to the national economy," al-Wandi said.

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Tishwash:  Capital Bank" promises Iraq a qualitative commercial shift with the Gulf countries

The National Bank of Iraq, affiliated to the "Capital Bank" group, announced during its sponsorship of the joint Saudi-Iraqi business matching forum that was held in Jeddah, that it will start its business through its official headquarters in the King Abdullah Financial Center in Riyadh, stressing that it is a step that will contribute to promoting economic development in Iraq, whose economy is witnessing clear growth, will make a "qualitative leap" in enhancing the volume of trade exchanges with the Gulf states. 

This announcement was made by the Chairman of the Saudi-Iraqi Business Council, Muhammad bin Abdullah Al-Khorayef, who inaugurated the activities of the forum along with a number of members of the Business Council, the Coordination Council, the Saudi Export Development Authority, the Ministry of Investment and the Foreign Trade Authority, and a number of official figures and businessmen from both Saudi sides.

 And the Iraqi, and the managing director of the National Bank of Iraq, Ayman Abu Dahim, and the deputy CEO of the Capital Bank Group, Mr. Nadim Qabbat, and the CEO of the National Bank of Iraq in Saudi Arabia, Eng. Zaid bin Abdulaziz Abunayan, and a group of executives in the bank.

The opening of a branch of the National Bank of Iraq, according to Al-Khorayef, is an important step to expand the base of trade exchange between Iraq and the Kingdom of Saudi Arabia in light of the increasing growth of exports between the two countries. , by providing commercial services to them directly.

For his part, the Managing Director of the National Bank of Iraq, Ayman Abu Dahim, stressed "the importance of opening the first Iraqi bank in the Kingdom of Saudi Arabia," explaining that "the National Bank of Iraq will play an important role in developing and developing economic relations between the two countries, after the increasing growth in the volume of trade exchanges." between them."

He stressed, "The importance of the bank becoming the ideal partner for Saudi and Iraqi companies."

For his part, the CEO of the National Bank of Iraq in the Kingdom of Saudi Arabia, Zaid Abunayyan, expressed his happiness with the opening of the first branch of the National Bank of Iraq in Saudi Arabia and said that "the branch will provide banking services and various banking facilities to cover the untapped sectors in the Saudi trade market, which means increasing its market share of Total commercial dealings between Saudi Arabia and Iraq by providing services to strategic corporate clients and facilitating their commercial dealings.

Abunayyan pointed out that "the volume of trade exchanges between Iraq and Saudi Arabia amounted to 5.5 billion riyals last year, with a growth rate of 48%, as the volume of trade exchange maintained stable growth during the past few years, explaining that the scope is still great for increasing bilateral trade exchange, especially after the bank directs Al-Ahly Al-Iraqi does its business in Saudi Arabia, and thus aspires to become the preferred and ideal partner for Saudi and Iraqi companies, in a step that will contribute to strengthening the economic development process in Iraq, whose economy is witnessing clear growth. 

During the forum, a brief was presented about the Saudi Iraqi Investment Company, wholly owned by the Saudi Public Investment Fund, which was established recently with a capital of $3 billion. 

Acting CEO of the Saudi Iraqi Investment Company, Miteb Al-Shathri, stated that "the company will invest in Iraq through direct investment in private companies and in companies listed in the Iraqi market, in addition to indirect investment by participating in economically feasible infrastructure projects and investing in funds that target Iraqi market.

Al-Shathri added, "The Saudi-Iraqi company will jointly invest with the Public Investment Fund companies and private sector companies to accelerate the regional expansion of Saudi companies," noting that "the presence of the National Bank of Iraq in Riyadh will contribute to encouraging and facilitating trade between the two brotherly countries in light of the increasing growth of exports between the two countries." ".  

The Public Investment Fund had invested $185 million in the Capital Bank Group of Jordan in exchange for a 24% stake, which in turn owns a 62% stake in the National Bank of Iraq.

For his part, Abu Dahim expressed his "thanks and appreciation to the Saudi Public Investment Fund for its clear keenness to develop and develop Saudi-Iraqi cooperation relations, and transfer them to new levels," noting that "the establishment of the Saudi-Iraqi Investment Company and its direction to invest in Iraq will cause a quantum leap in enhancing the volume of exchanges." trade between the two countries. 

It is worth noting that the establishment of a branch of the National Bank of Iraq in the Saudi market, which is among the strongest economies in the world, will contribute to supporting the pace of growth by building a network of banking relations with major institutions and companies operating in the commercial sector in the Kingdom and the continuous pursuit of achieving the desired goals through innovation and development.

 In providing all banking solutions that support and support commercial activities between the Kingdom of Saudi Arabia and Iraq.  link

Mot:  .. Yeppers... Starting to Notice I Is!! ~~~

CandyKisses:  GONE TO THE BEACH!!!!

Iraqi News Highlights Late Monday Evening 6-5-23

Iraqi News Highlights Late Monday Evening 6-5-23

Tlm724 Administrator Bondlady’s Corner

An Economist Told NINA: International Understandings Are The Only Solution To Reduce The Gap Between The Official And Parallel Dollar Price

Monday 05, June 2023 09:31 | Economical   Number of readings: 475  Baghdad / NINA /- The economist, Nabil Al-Marsoumi, confirmed that   the only solution to reduce the gap between the official price of the dollar and the parallel price in the market is the international understandings about paying countries' dues for imports of goods and merchandise in dollars and the large withdrawal on it in the currency auction, noting: "This rise He came to settle the sums of trade and import from neighboring countries.”

Al-Marsoumi said, in a statement to the National Iraqi News Agency ( NINA ), that

"the sales of the Central Bank of Iraq increased, especially during the past months of April and May, and

restored their previous levels before launching the electronic platform," noting that "the

increase in sales confirms the compliance of Iraqi banks with the rules for working on the electronic platform." created by the US Federal Bank, and thus a

large number of bank transfers were successfully executed. 

He explained: "The  large gap between the official selling price of the dollar and the parallel market, despite the central bank's measures, is caused by the use of cash dollars to settle trade with neighboring countries, especially Iran, as

it is subject to US sanctions that prevent it from obtaining dollars directly," noting that

"Iraq It imports goods and products from Iran amounting to 10 billion dollars annually, and

this prompts the need to find certain mechanisms to finance trade with Iran. 

The economist stressed, "the  need to find understandings between the Central Bank and the US Treasury to implement a mechanism that enables Iraq to pay the Iranian side's dues for goods,

such as choosing an alternative currency for the dollar," noting that

"failing to find a settlement for this matter keeps the dollar's prices fluctuating no matter what." Sales of the Central Bank of Iraq amounted to dollars.   https://ninanews.net/Website/News/Details?key=1057718

Ignite Controversy About The Central Bank's Policies With Banks {Fines} 

The first 2023/06/06  Baghdad: Shukran Al-Fatlawi   The controversy escalated between experts and specialists in financial affairs regarding the imposition of fines by the Central Bank on banks, as

some of them supported this step and considered it dues that must be paid to contribute to the development process, while

another section rejected it and described it as a retaliatory and inflexible policy that negatively affects the performance of banks.

The Central Bank recently imposed financial fines on banks and institutions after they manipulated the exchange rate of the dollar against the dinar. Alert and warning after its manipulation of the dollar exchange rates.

The economist, Dr. Mustafa Hantoush, told Al-Sabah:

The increase in fines on banks is an inflexible policy by the Central Bank, as

it is imposed for several reasons and does not fall even after overcoming its causes.  He pointed out the

need to give banks a period to address their mistakes, stressing that exceeding

fines amounting to 34 billion dinars is more like a policy of retaliation or collection than a policy of regulating performance.   Hantoush noted that

banks began to fear dealing with citizens and conducting banking transactions, and

therefore their capabilities were curtailed, as

they became content with some businesses to achieve profit without going for banking expansion.  He added that

banks at the present time do not have the ability to attract the monetary mass, as more than 70 percent of the cash is still hoarded,

because dealing with depositors requires several things and methods of dealing,

foremost of which is the flexibility that is not currently available due to the recent policies of the Central Bank. The process of abandoning banks and accessing depositors’ money. Hantoush emphasized that

failure to attract and recycle deposits forces the country to print dinars, and

thus an inflation process occurs, even though the dinar is equivalent to the dollar.   https://alsabaah.iq/78426-.html

 The Minister Of Finance Is Taking A Package Of Measures And Procedures To Control The Movement Of Accounts

 June 4 21:46 1 shares  The Minister of Finance takes a package of measures and procedures to control the movement of accounts

Information / Baghdad...  Minister of Finance, Taif Sami, announced today, Sunday, that the  TSA system will contribute to improving the quality of financial statements for banks, while she referred to a package of measures and procedures to control the movement of financial accounts.

The Ministry of Finance said, in a statement received by Al-Maaloumah, that “Minister Taif Sami chaired today the consultative meeting regarding the requirements for designing and implementing the TSA unified account system, in the presence of the general managers of Al-Rafidian and Al-Rasheed banks, the real estate, industrial, agricultural, Al-Nahrain Islamic Bank, the Iraqi Trade Bank, and the director general of the Accounting Department.”

And representatives of the above banks, the representative of the Office of Financial Supervision and the ministerial team concerned with the project.

During the meeting, the Minister of Finance stressed the importance of doubling the work efforts of the sub-committees by obliging all spending units within ministries and institutions to allocate allocations for them and not to exceed their account ceilings, to reduce cases of out-of-control spending, in addition to doubling oversight and audit efforts around them.

The measures and procedures that the Ministry is working on to control the movement of financial accounts to include various sectors and to  determine the accuracy of the financial data, in addition to moving towards updating the financing accounts towards the investment account and the current operational account.

She stressed that "the system will contribute to improving the quality of financial statements of banks within the framework of applying international standards in auditing,  control,  transparency and risk management." https://almaalomah.me/news/economy/وزير-المالية-تتخذ-حزمة-من-التدابير-والإجراءات-للسيطرة-على-حر  

Experts Call For Offering {The Path Of Development} To Foreign Investment

Economical 06/04/2023  Baghdad: Hussein Thagheb Al-Tamimi  Experts in economic affairs called for the need to put the development path project on the table of “foreign investment”, while at the same time warning against exploiting this project for political purposes.

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, described the role of the development path in reviving the national economy as important, pointing out that

“the work mechanisms must take into account modernity in the implementation of all stages and joints of the project.”  Saleh told Al-Sabah,

"As long as the project is implemented jointly with investors, there is a need for a financing alliance whose stages are being prepared in advance before starting to refer the project to international contracting companies to implement it competitively according to the latest technological and digital specifications in the world." 

And he called for "the need to choose manufacturing industries whose production is interconnected, locally and globally, to make economies of scale, reduce costs, and maximize returns, with a truly tight interconnected plan."

Haider Kazem al-Baghdadi, a specialist in economic affairs, said:

“The development path is one of the important strategic projects for future generations and the future of Iraq, because of its positive aspects, both visible and unforeseen.” 

He added, “The factors for the success of this path require the development of an implementation plan that depends on allocating the necessary amounts for implementation and is not linked to a specific annual budget, because this project is not exploited for any political purpose.”. 

In the technical side of the project, Al-Baghdadi said:

“It is preferable that this road be in the form of an artery branching to Jordan, Turkey and Iran for the purpose of benefiting from the advantages of this project and preserving it from commercial competitors, and it is not preferable that it be on one side (a specific country).”

In turn, a member of the Baghdad Economic Forum, Amer Al-Jawahiri, said:

“The development path represents an economic step on the path to achieving sustainable development in its true form, on the basis that it is an integrated and comprehensive project, not only a road and a railway, but will lead to the establishment of industrial and service cities and major ports.” 

He pointed out that "the path of development must be an important part of the Belt and Road initiative, which includes the establishment of infrastructure and production, service and tourism projects, and there must be coordination with major countries to coordinate mechanisms for linking the east and west of the world, and to reach major agreements that contribute to Bringing major investments,” noting that  “partnerships are important in the implementation and operation of this project.” 

And he indicated that  “the project includes commercial points throughout the project and its paths, and Iraq can be the heart of the real and most important link between the West and the East, and here it is necessary to work on implementing development path projects that require quick procedures and serious action with all parties to implement such an important project because there are projects International competition,

but the path of development is the most likely to have the ingredients for success and the absence of complex challenges. 

Al-Jawahiri stressed that "Iraq is in dire need to start development projects that have weight in the world, commensurate with Iraq's economic capabilities and move it to a new stage that achieves the benefit of the country and the global economy in general."

Regarding the financial returns of the project, Al-Jawahiri said:

“This matter depends on the exact economic feasibility of the reality of the performance of this project and its details, and it is not possible to set specific numbers for this pillar of the Development Road project.” 

Pointing out that “the project requires a comprehensive and serious move to achieve attracting international and local direct investments in all aspects of the project, which represents a great development movement that achieves financial returns and benefits for all parties, but determining a specific number is not possible at the present time.”    https://alsabaah.iq/78245-.html

Economical 06/05/2023  Baghdad: morning  Yesterday, Sunday, Finance Minister Taif Sami discussed reforming the tax system and maximizing non-oil revenues.

A statement by the ministry stated that Sami chaired an expanded meeting to follow up on the paragraphs of implementing the ministerial program presented by the government program team in the General Secretariat of the Council of Ministers, in the presence of the general directors of the Mesopotamian, Rasheed, Agricultural, Industrial and Real Estate banks, the customs and tax authorities, and the directors of the legal, accounting and budget department in the ministry.  He added,

"The meeting discussed the report on the implementation of the government program prepared according to the

priorities of the ministerial platform related to the second chapter of 2023, managing public money, reducing consumer spending in favor of sustainable development projects, and shifting towards balancing programs and performance, in addition to adopting a vision to limit external borrowing for investment projects."

 He stressed that "the meeting continued to study 

the priorities of reforming the tax and customs system, controlling border crossings, and maximizing non-oil state revenues, as well as following up on plans to reform the banking sector in a way that guarantees raising its contribution to the overall economic activity," noting that

"a detailed report was presented on completion rates."

Departments and agencies for their projects in accordance with the ministerial curriculum, identifying cases of delay in implementing programs in accordance with the vision (2023-2025), and

stressing overcoming all obstacles to the completion of reform projects, and other plans consistent with the criteria for the advancement of the national economy.    https://alsabaah.iq/78327-.html

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

https://www.bondladyscorner.com/

Monday Evening Iraq Economic News Highlights 6-5-23

Monday Evening Iraq Economic News Highlights 6-5-23

The Economist: Not Approving The Budget These Days Will Lose Its Economic Content

Monday 05, June 2023 10:37 | Economical Number of readings: 389  Baghdad / NINA / - The specialist in economic affairs, Durgham Muhammad Ali, confirmed: "More delay in approving the budget will lose its importance and content."    Muhammad Ali said in a statement to the National Iraqi News Agency ( NINA ) that "the lack of approval of the budget, and we are in the middle of the year, has made it lose its content, especially on the investment side," noting that "a solution must be found to the crisis facing the approval of each budget."  And between: "A joint workshop between the Ministry of Finance and representatives of the blocs during the formulation of the budget will overcome many of these problems."

And he continued: "Proceeding annually with this sterile scenario of political rivalries, will renew the problem of the lack of budgets or their significant delay."/

https://ninanews-com.translate.goog/Website/News/Details?key=1057736&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Deputy: We Will Not Be Silent About Disrupting The Budget, And We Will Resort To Collecting Signatures To Hold The Session Within Two Days

Time: 06/05/2023 Read: 1,976 times  {Politics: Al Furat News} The representative of the National State Forces Alliance, Ali Shaddad, explained today, Monday, that there is a deliberate delay in not holding the voting session on the budget law, pointing out that it will be resorted to collecting parliamentary signatures to hold it.   LINK

A Deputy Announces The Arrival Of The Draft Budget For The Coalition Of State Forces To Discuss The Outstanding Points With The Region

Time: 06/05/2023    Read: 780 times  {Politics: Al-Furat News} Representative of the State Forces Alliance, Ali Al-Bandawi, announced today, Monday, that the draft budget bill had reached the coalition in order to discuss the outstanding points with the region.

Al-Bindawi told {Euphrates News}, that "the draft budget law has reached the coalition to be studied and to discuss the outstanding points with the Kurdistan region," noting that "we will not yet be informed of the date of presenting the budget to the House of Representatives, and that the fundamental dispute that appears with each budget be with the province.

He added, "Most things will be completed with the budget file during the current week or next week at the latest."

It is noteworthy that the Kurdistan Regional Government has recently objected to the amendments made to the paragraphs related to the region in the financial budget that the Iraqi Parliament seeks to approve, describing it as a violation of the laws, the constitution and the agreements concluded between Erbil and Baghdad.

On the 13th of last March, the Council of Ministers approved the largest financial budget in the history of the country, which exceeded 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit of 63 trillion Iraqi dinars, taking advantage of the rise in global oil prices, which It constitutes more than 95% of the country's financial revenues, amid objections from financial and legal experts regarding the budget items, but it has not yet been approved due to disagreements.

It is noteworthy that the House of Representatives failed to hold a session to vote on the budget due to the continuing dispute over the share of the Kurdistan region, which refused any amendment regarding it.    From.. Raghad Dahham    LINK

Accelerate The Passage Of The Budget On The Table Of Khazali And Al-Halbousi

2023.06.05 - Baghdad - Nas  The Secretary-General of the League of the Righteous Movement, Qais Khazali, discussed, on Monday, with the Speaker of Parliament, Muhammad al-Halbousi, the speedy passage of the budget. 

  A statement by Khazali's office, a copy of which "NAS" received, stated (June 5, 2023), that "the Secretary-General of the League of the Righteous, Sheikh Qais Khazali, received today in his office in the capital, Baghdad, Parliament Speaker Muhammad al-Halbousi," noting that "the meeting was attended by the head of the Sadiqoon bloc." Parliamentary Adnan Feihan, who emphasized his bloc's quest to resolve the financial budget law in a way that does justice to all the rights of the Iraqi people. 

The statement added, "During the meeting, they discussed the latest political developments and what resulted from the discussions within the House of Representatives regarding the articles of the financial budget law, and emphasized the need to pass the law as soon as possible because of its importance related to the lives of citizens and the completion of development projects in the country." 

He continued, "They also discussed the necessity of enacting important legislation and laws to advance the service and economic reality and interest in service projects and infrastructure." 

https://www.nasnews.com/view.php?cat=108537

Collect Parliamentary Signatures To Hold A Session To Vote On The Budget

Information / Baghdad.. The representative of the Al-Fatah Alliance bloc, Walid Al-Sahlani, revealed, on Monday, that he had collected parliamentary signatures to set a date for holding a session to vote on the federal general budget.

Al-Sahlani said, in an interview with Al-Maalouma, that "a number of representatives of the coordination framework began to collect signatures calling on the Presidency of Parliament and heads of political blocs to set a date for holding a session to vote on the draft budget law during this week."

He added, "All indications indicate that there is agreement on most of the contentious points for the Kurdistan region."

Al-Sahlani indicated, "The other points that have not been agreed upon are referred to a vote inside the parliament dome during the voting session on the law."

Yesterday, Sunday, the representative of the Al-Fateh Alliance, Muhammad Al-Baldawi, revealed the approval of the region’s delegation on the conditions of the Parliamentary Finance Committee regarding Kurdistan’s share of the federal general budget. LINK

Al-Agaili: 12% Of The Budget Goes To Kurdistan And 2% To The Southern Governorates

On Sunday, the political analyst, Sabah Al-Agaili, accused the Kurdistan Regional Government of focusing on political agreements in order to pass its percentage of the general budget law, while stressing that political agreements should not pass at the expense of the central and southern governorates.

Al-Aqili said in a press interview, which was seen by “Takadum”, that “the time has come to end the region’s courtesy that has extended for twenty years in most files with the central government,” noting that “the Finance Committee is required to vote on protective figures for the region’s percentage of the budget and the fairness of the southern governorates.” ".

He continued, "The region will get 12.67%, while the southern governorates will take 2%, and this is what falls within the injustice of the southern governorates," pointing out that "Kurdistan continues to focus on the file of political agreements in order to pass their percentage of the general budget law."

Regarding the percentage of the southern governorates in the budget, Al-Aqili stresses: “The need to tighten control over the crossings, border crossings, and airports, and to include their revenues in the general budget,” adding that “it is unreasonable for the political agreements to pass at the expense of the central and southern governorates.”    https://takadum-news.com/archives/167606

Advisor To The Prime Minister Explains The Importance Of Re-Examining Operating Expenses And Warns Against Borrowing

Economy   Baghdad - aware - Nassar Al-Hajj   Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, called for a re-examination of operating expenses and building them according to the principles of justice and fairness, while stressing the need to create partnerships with the private sector to advance the investment budget programs.

Salih said, in a statement to the Iraqi News Agency (INA), "It is necessary to carry out a strict re-examination of operating expenses in all its details and build them according to the two principles of justice and fairness in financial behavior and to address the waste left by previous legislation and led to an exponentially increasing burden of expenditures and posed a burden on financial sustainability and its future." ".

He added, "Actual partnerships must be established with the private sector to advance the investment budget programs, especially productive and income-generating projects, within the framework of a strategy for cooperation and partnership between the state and the private sector, and seeking to find sources of financing available from outside the general budget or direct reliance on fluctuations in the oil resource in it."

And he called, for "the need to consider the issue of the comprehensive financial reform plan and the reorganization of financial life, in which the scope of waste has expanded in its components due to the accumulation of legislation that requires financing constantly, so going to borrow or borrow and engage in overburdening debts in the interest of the operational budget of a non-productive consumer nature, as it causes confiscation The hopes of future generations and their bequeathing negative financing models that eliminate opportunities for prosperity and economic progress. https://www.ina.iq/186719--.html

Awake-In-3D: Project Hammer (Part 2) A History Leading to "Our GCR"

Project Hammer (Part 2) – A HISTORY LEADING TO “OUR GCR”

On June 4, 2023   By   Awake-In-3D

ANDREW GOUGH – Operation Golden Lily Conspiracy

Historical Background Before Project Hammer: Operation Golden Lily

In the year 1944, a significant event known as Operation Golden Lily unfolded, orchestrated by the Japanese Emperor and his military. Over the previous half-century, the Japanese had plundered twelve Asian countries, ransacking museums, banks, gold reserves, private art collections, and even sacred graves of ancient tombs. This article sheds light on the objectives of Operation Golden Lily and its repercussions, highlighting the efforts of the United States in thwarting Japan’s ambitions.

The article photo shows General MacArthur inspecting Philippines WW2 Gold.

The Ambitious Strategy

The Japanese had a two-fold strategy in Operation Golden Lily. Firstly, they aimed to strip the East of its cultural identity by looting priceless treasures. Secondly, they intended to transfer these treasures back to Japan to fund their military, political, and economic dominance for the next thousand years. Their ambitious plans were ultimately disrupted when approaching allied forces, primarily the United States, began targeting Japanese cargo ships en route to or from the Philippines.

Securing the Treasures

Having gained control over the Philippines, the Japanese were in the process of transferring their war spoils from Singapore to Japan. However, with US tanks closing in at a mere 30 kilometers away, General Yamashita, the head of the Japanese occupying army in the Philippines, realized that the war was lost. To protect the stolen gold, the Japanese swiftly constructed complex tunnel systems leading to deep underground vaults. These tunnels were primarily located on Japanese military bases, with some near significant landmarks such as hospitals, schools, churches, mountains, and waterfalls.

The US Military Discovers the Gold

Despite the Japanese taking extensive precautions to safeguard the secret vaults, US military intelligence officers managed to uncover their existence. They seized billions (1945 US Dollars) in gold, platinum, precious gems, and cultural treasures from these hidden locations. Alongside Nazi war loot from Europe, the Japanese plunder was channeled by the US through Gold Certificates into an off-ledger trust known as the “Black Eagle” Trust. This discovery marked the inception of the clandestine Yotsuya Fund, financed by the Golden Lily treasure.

Enter the Keenan Fund and the M-Fund (sound familiar???)

In addition to the Yotsuya Fund, another fund named after Joseph Keenan, the chief prosecutor in the Tokyo war crimes trials, was established utilizing the Golden Lily funds. Eventually, both funds were merged into what became known as the M-Fund. By 1950, the M-Fund had grown significantly, reaching nearly 10% of Japan’s gross national product.

The Impact on Japanese Politics

The M-Fund played a crucial role in supporting pro-US leader Nobosuke Kishi in Japan. During his three-year term as prime minister from 1957 to 1960, Kishi received an annual sum of $10 million primarily sourced from the M-Fund. This financial backing enabled him to exert influence and promote the interests of the United States in Japan.

The Marcos Connection

After 1965, President Ferdinand Marcos of the Philippines, a favored ally of Washington, sought a share of the Golden Lily wealth. To facilitate his involvement, Marcos utilized CIA aircraft, US Air Force planes, and US Navy ships to transport the bullion. The CIA’s global network of banks, such as the Nugan-Hand Bank in Australia, which had numerous retired US intelligence officials on its board, provided offshore refuge for the “black money.” The once-known Golden Lily Gold became widely recognized as the Marcos Gold.

Unveiling Global Gold Trading Platforms

As the global elite and military-industrial complex grew increasingly avaricious and power-hungry, Marcos was eventually overthrown and exiled, laying the groundwork for the emergence of global gold trading platforms. One of the notable initiatives in this realm was Project Hammer, among many others that followed suit.

Now Back to Project Hammer…

Project Hammer, a covert operation with macroeconomic objectives, played a significant role in leveraging assets stolen during World War II for private profits and funding secret projects. Through complex networks and financial strategies, banks and intelligence agencies shielded themselves from responsibility, creating a shadowy world of parallel finance.

Following the defeat of the Japanese and their failure to negotiate the retention of the Philippines, the Office of Strategic Services (OSS), the forerunner of the CIA, began recovering the bullion stolen by the Axis powers. This bullion formed the “Black Eagle” fund, which operated under the shadow of the 1944 Bretton Woods Agreement. The fund’s assets were placed under the control of Severino Garcia Santa Romana, an OSS operative, who established numerous corporate entities to manage them.

Offshore Accounts and Private Gold Treaty Agreements

To handle the recovered assets, Santa Romana’s corporate entities established 176 bank accounts in 42 countries. These accounts operated under private Gold Treaty agreements, keeping the assets hidden from public view. The true extent of these accounts and their connections remained concealed for years.

Gold and Platinum Certificates

Over the years, European banks issued gold and platinum certificates based on this bullion. The certificates bore the names of prominent individuals, often heads of state, as beneficiaries. However, these individuals were not the legal beneficiaries but rather a smokescreen to obscure the true origin of the bullion. The banks holding the assets did not own them but utilized them in off-ledger activities, often to an irresponsible extent. This parallel financing scheme was based on the leveraging and monetization of the WW2 gold certificates as collateral.

Of course, the Elitists and Banksters neglected their originally promised obligation to return the stolen collateral assets to their rightful owners… until a new program began in the 1990s.

The Birth of a New Project

This is the principle historical background for what evolved into a new operation beginning in the 1990s. It is a project to re-purpose the Funds, Trusts and Gold for the benefit of Humanity – the origin of Our GCR today.

Interestingly, all of the background mechanisms and structure of the “Good Guy” Global Currency Reset were born out of programs like Project Hammer.

The delay in releasing Our GCR are many fold. Primarily, there have been far too many persons and entities fraudulently claiming to be the rightful heirs to the many Trusts, Funds and Trading Platform accounts. Many or you have been witness to this over the past 15 years in GCR Land. I can only surmise that a decision to allow the collapse of the current financial system.

For much more on Operation Golden Lily, go here: https://andrewgough.co.uk/the-golden-lily-conspiracy-my-journey-of-discovery/

https://ai3d.blog/project-hammer-part-2-a-history-leading-to-our-gcr/

(Note: You Can see all of Awake-In-3D’s past Articles in Dinar Recaps Category section)

Goldilocks " Gold is the bridge to our new home, and we are beginning to cross it." 6-5-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted some news links with comments to help us understand what is happening!

Okay, folks, the markets have now been positioned for a transition. The debt ceiling will give us temporary breathing room to make adjustments into our new economy. 

Our banks have now been filled with cash again based on loans they hope to refill by buyers on the market who already have limited cash reserves. 

What happens if these T-Bills are not bought by investors? 

The US Bond market measures the performance of the market. And, it is in direct correlation with the strength of the dollar. So, the answer to the above question is about to be found out.

As you can see, the road ahead is expected to be volatile whereby decisions on loans going forward will begin showing new liquidity lines of credit. 

These new calculations will affect our GDP and challenge our World Reserve Status. And, it doesn't get any better in the homefront.

This will affect lines of credit given to investors on the market causing the availability of buying more assets to narrow.

On the one hand, over 756 billion dollars has returned to the banks, BUT money has been taken from long-term investments and put into money market opportunities. 

Money Market Funds allow a customer to be able to pull from their funds just like cash. 

As you can see, the status of the dollar to support our markets and markets around the world is waning. 

We are at a prefaces. Going forward, we have embarked upon uncharted territory. This is why you have seen Central Banks around the world stock up on gold. 

Saudi Arabia has stepped up to say they are going to limit the amount of oil provided in the near term due to these changes taking place. 

This decision will allow them to raise the price of oil to new levels protecting their precious asset's values. 

Oil is a commodity along with gold and silver. We can expect these prices to change in the near term for these three assets in a repricing event that will reset the global markets.

When everything else falls apart, gold has been the path forward that has led us from darkness into light. It has been called upon many times in our history to transition us from one monetary system to another.

Gold is the bridge to our new home, and we are beginning to cross it. 

Gold will set us free, and all roads lead to gold. 

© Goldilocks

Washington Examiner LINK

DailyHodl 1 LINK

StraitsTimes LINK

DailyHodl 2  LINK

The Daily Star LINK

~~~~~~~~~~

We currently have clarification between the SEC and the CFTC on digital assets. It is in draft form and being prepped for legislation due to be finished by the end of the month. 

"As per the report, the bill would provide an easy solution “to registration and explicitly allow crypto securities to be traded on alternative trading systems.” This would be under the purview of the SEC, while CFTC would oversee the crypto spot commodity market under existing law."

This clarity will allow us to move forward with our new digital asset-based trading system after June 30th. 

© Goldilocks

The Coin Republic 1 LINK

The Coin Republic 2 LINK

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

"Tidbits From TNT" Monday Morning 6-5-2023

TNT:

Tishwash:  Parliamentary Finance: The legislative term will not be suspended without passing the budget

The Parliamentary Finance Committee denied Parliament's intention to announce the legislative recess before the completion of the budget law.

Committee member Iman Abdel-Razzaq said, in a statement reported by "Al-Sabah", which was seen by Al-Maaloumah, "The legislative term will remain open until the budget is approved, as the parliament is not obliged to take its vacation after the ninth of this month, but rather waits until the budget is approved."

She added that "there are no initiatives or agreements regarding the budget," expressing her regret for this situation, as the entire people are waiting for passage.

"The  legislative term has been extended in order to approve the budget law, since the interests of the people in terms of investments or appointments are all suspended until the law is passed," she added   link

Tishwash:  This evening.. the frame holds a crucial meeting before voting on the budget

The leader in the coordination framework, Turki Al-Atbi, revealed that an important meeting will be held this evening, Monday, to push the 2023 budget to the House of Representatives.

Al-Atbi said in an interview with Al-Maalouma, "An important meeting will be held this evening in Baghdad, in the presence of representatives of the coordination framework forces, to discuss crystallizing a decisive position with the dilemmas that impede the completion of the discussion of the 2023 budget by the Parliamentary Finance Committee, in preparation for presenting it to the House of Representatives."

He added, "There is a principled consensus to support the speedy resolution of all problems in an objective and fair manner for all parties, in order for the budget to be ready for voting at the end of this week."

He pointed out that "80% of the problems facing the 2023 budget have been resolved in the past days, and that the political agreement that paves the way for its presentation is just around the corner at the present time, according to the information."

The KDP's objection to the Parliamentary Finance Committee's amendments to the 2023 budget caused a delay in voting on it last week.    link

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

Tishwash:  Baghdad sends 400 billion new dinars to Kurdistan

 Today, Monday, the representative of the Kurdistan Regional Government in Baghdad, Fares Issa, confirmed that if the budget is not approved in the coming days, Baghdad will send 400 billion new dinars to the region.

Issa told (Baghdad Today) that "the Kurdistan Regional Government has not yet released the salaries for the month of May for employees, due to the lack of sufficient financial liquidity, as a result of stopping oil exports and not approving the budget."

He added, "In the event of a delay in approving the budget, the federal government will send in the coming days an amount of 400 billion dinars as a loan that will be deducted from the region's share, so that the Kurdistan government can pay the salaries of its employees."

The Kurdistan region is witnessing a severe financial crisis that caused its inability to pay the salaries of employees after the decision to stop oil exports from the region to Turkey, which came after the Federal Ministry of Oil won a lawsuit in international courts.  link

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

Tishwash:  The Central Bank of Iraq is looking forward to building a partnership with the German "GIZ" and announces advanced stage

he Governor of the Central Bank of Iraq, Ali Al-Alaq, affirmed, on Monday, the bank's aspiration to build a partnership with the German Institute for International Cooperation (GIZ), indicating that it has reached advanced stages in building a national strategy for lending.

This came during a speech by Al-Alaq at a conference held by the German Foundation for International Cooperation regarding the needs and priorities of actual financing for small and medium enterprises in Iraq, and was attended by the Shafaq News Agency correspondent.

GIZ is now one of the largest development agencies in the world and was established on January 1, 2011, through the merger of three German international development organisations.

Al-Alaq said, "The German Foundation for International Cooperation, which is today one of the largest institutions in the world and operates on the basis of a model that aims to achieve a balance between economic development, social integration and environmental protection," explaining that "this comes from the role of the Central Bank of Iraq in achieving economic stability." Contributing to growth, prosperity and job creation through unconventional monetary policy, which is one of the policies pursued by some central banks in the world in order to drive economic growth.

He added that "the initiatives of the Central Bank of Iraq, which are distributed between the initiative to develop small and medium projects, housing loans, renewable energy and other economic projects in the field of agriculture, industry and services, which total more than 12 billion dollars, constituted 30% of the total credit in the private sector and for the purpose of strengthening this Direction The Central Bank is building a national strategy for lending, which has reached advanced stages in terms of design and is expected to be announced in early 2024.

He continued, "This strategy aims to facilitate bank borrowing in all its forms in light of diagnosing weaknesses and challenges as well as opportunities and strengths available," stressing "the continuation of supporting small and medium enterprises, which are the backbone of economic projects, revitalizing the private sector, and reducing unemployment and poverty."

Al-Alaq said, "Our experience through the Small and Medium Enterprises Financing Initiative over the past years has shown that funding alone is not sufficient, but it is necessary to strengthen sectors, skills and training, and create a suitable environment for launching projects. This is what we are seeing from international organizations that have long experience in this field, including the German Cooperation Foundation." ".

And the governor of the Central Bank of Iraq added, "We launched during the past days the Al-Riyadah Bank project and we are working to achieve it through Iraqi banks, which will be a starting point for financing small and medium projects."  link

Mot:  ... Geeeeshshshshshshhhhhhhhhh!!! Do this Monday thing

Mot:  . oooooooooooh - How I Can Relate!!!! ~~~ customer service menu…ugh

MilitiaMan and Angel1: "Iraq-3rd World Country to 1st World Leader 6-4-2023

Thank you PDK……

Iraq- 3rd World to 1st World Country Leader with Militia Man & Angel1

MilitiaMan and Crew :  6-4-2023

An interview with Angel1.

Some highlights by PDK-Not verbatim

MM: We are in a good space and seeing some good things

A1:  Where are we? Here’s what we know. . In February there was a massive delegation from Iraq that went to DC to talk about the economic reform.

A1: Here is what we know for a fact….DC had told Iraq that tjey have until June 1 to execucte everything…..to revalue their currency……to become international and move forward with their monetary reform.

A1: Well, June 1 passed. Let’s go back to May 30th….May 3oth was absolutely massive and here is what happened.

A1: On May 30th the Kurdistan Regional Government  was dissolved. Now Iraq was like a 2 headed monster…..Baghdad has a Prime Minister and a Finance Minister ect…..and Kurdistan mirrored that. It was unconstitutional. I knew this from the very beginning  that they would need to go back to the constitutional ways of being one government.  

A1: on May 30th a judge ruled and now the Kurdistan regional government has been dissolved and their power and authority has been taken from them.  Now they will be like every other area and just have a governor.

MM: A state within a country.

A1: That is exactly it. And this was a requirement that had to happen so they could move forward.  Now on May 31- the next day……a high level delegation  arrived in DC.

A1:  The purpose of this visit was to ask for an extension. Remember June was the hard date. They asked for an extension and were in DC for less than 24 hours.  They got their extension…They got their commands…..They got their orders and they left.

A1:  That same day the CBI stops all transactions  from Western Union. The purpose of that was to take full control of the IQD. Also the same day on May 31- the QFS is up and live as of 5 am PST. !!!

A1: This is not for public use as of yet. But it is up and running.  Now obviously Iraq got their extension.  June 1 was another huge day. They launched the electronic platform with great success.  Their electronic platform is more advanced than ours.

Ai Also on June 1, the IMF report came out. It was a fair report. It had some negatives in it. The reason for the negatives  is because they are in a transition. They are implementing some massive changes.   They have oil agreements that have been signed and agreed upon …but not executed yet. They have got a liquidity issue because they went from a multi-currency pracctise to  a single –currency practice…..and they also went digital…..so all of this is necessary for their new currency …for the RV and for them to go international.

A1:  on all the recommendations the IMF gave- Iraq is already ahead of the game. Now on June 3……the oil minister comes out and says publically that  the cost of a barrel of oil will be $80 dollars very soon.  And today Opec comes out and says Iraq, Saudi Arabia, Russia, Algeria, Oman ,, UAE, …..they all agreed to extend the period of oil production  until the end of 2024. This is simple supply and demand.

MM: This will keep the price up over $80 bucks.

AI It could go above ethat which would be great for us and our investment. Also good for all ththese cocuntries have made. eir oil investments.

A1:  This type of agreement has never, ever been done before. These major countries have never done this. There is a lot of people on board and heading in one direction. We are going to see things at lightning speed because of these agreements that these countries have made.  

A1: Iraq is about to have a “Quantum leap”  economically…all these countries are signing contracts with Iraq already.

A!: Today has been a big day because we are so close. Today Sami-The Finance minister had big meetings today ….she met with the Council of Ministers (COM)  …and she met with the heads of major banks ….and today she announced  a package of measures and proceedures  to control the movement of financial accounts. …major accounts. These are the accounts that are used for “budget” purposes.

A1: I am no longer concerned about the budget. In DC the extension was givien…..I believe there was always a plan  to implement different packages and different measures for the second chapter…….well, the second chapter is simply the  second half of the year.  The second half of the year began on June 1.

A1: By June 1 they were supposed to be international and supposed to be having their new rate floating on forex.  Iraq is going from the third world country that it is….to the first world country it is supposed to be.   It is mind boggling.

A1: We know Iraq has the value and we are simply waiting for the rate to reflect it.

Note from PDK: Please listen to the replay for all the details and the entire stream….There is a lot more news that was not transcribed……..

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

Monday Morning Iraq Economic News Highlights 6-5-23

Monday Morning Iraq Economic News Highlights 6-5-23

Parliamentary Finance: Political Agreements Regarding The Budget "Have Not Been Decided Yet"

Information / Baghdad...  A member of the Parliamentary Finance Committee, Mustafa Al-Karawi, confirmed, on Monday, that the political agreements regarding the budget did not reach the stage of passing.

Al-Karawi told Al-Maalooma, "The budget amendments, from a technical point of view, are supposed to be in the hands of the Parliamentary Finance Committee, as it undertakes to make the amendment, vote on it, and pass it within the House of Representatives."

He added, "The agreements between the political parties on budget amendments are not considered constitutional agreements, but the reality of the situation in the country requires the members of the Finance Committee to be influenced by the leaders of the political blocs, as ideas and visions are ripened to be reflected in the Finance Committee."

And Al-Karawi said, "The agreements between the political parties are still immature and have not reached the final results, and then they are referred to the Presidency of Parliament to set a date for the voting session."   LINK

Parliamentary Finance: The Legislative Term Will Not Be Suspended Without Passing The Budget

Information/Baghdad.. The Parliamentary Finance Committee denied Parliament's intention to announce the legislative recess before the completion of the budget law.

Committee member Iman Abdel-Razzaq said, in a statement reported by "Al-Sabah", which was seen by Al-Maaloumah, "The legislative term will remain open until the budget is approved, as the parliament is not obliged to take its vacation after the ninth of this month, but rather waits until the budget is approved."

She added that "there are no initiatives or agreements regarding the budget," expressing her regret for this situation, as the entire people are waiting for passage.

"The legislative term has been extended in order to approve the budget law, since the interests of the people in terms of investments or appointments are all suspended until the law is passed," she added. LINK

A Compromise Between The Political Forces To Pass The Budget This Week

Information/Baghdad..  The representative of the Sovereignty Alliance, Adnan Al-Juhaishi, revealed, on Monday, a political agreement between the political forces and parties to legislate the budget law during the current week. 

Al-Juhaishi said in an interview with Al-Maalouma Agency, "The political settlement is the available solution through which the federal budget law for the year 2023 can be legislated."

He added, "The Iraqi street is waiting for the approval of the budget by Parliament, and most of the political forces are seeking to approve it during the current week."

He pointed out that "the continuation of efforts for a political settlement through budget legislation and resolving all controversial points regarding the law."

The representative of the Kurdistan Democratic Party, a member of the Oil and Gas Committee, Sabah Sobhi, confirmed, on Monday, that the political forces had not reached a final agreement regarding the share of the region, calling on the Finance Committee to adopt the formula of the agreement signed with Prime Minister Muhammad Shia Al-Sudani regarding the export of oil. LINK

Deputy For Al-Barti: Approval Of The Budget Is Associated With The Political Agreement To Return The Text Of The Government To Finance

A member of the Finance Committee in the Federal Parliament, Siban Sherwani, said today, Monday, that in order to rectify the situation, the two parties must return to the text contained in the 2023 agreement between Erbil and Baghdad, regarding the share of the Kurdistan region’s budget.

 And he added, in a statement to KDP-affiliated media, followed by Al-Mutala, that: "The parties in the administration of the state are negotiating to make changes, and our demand is that the project that came from the government be implemented as it is."

Sherwani explained, "The government is the executive party and will decide whether it can implement those points or not, so we must go back to the government's text, because in fact they are implementing it."

 And he stressed: "No date has been set for the meeting yet, and when a political agreement is reached to return the text of the government to the Finance Committee, the parliamentary meeting will be determined and the budget will be approved."   LINK

Parliamentary Finance: The Budget Will Not Be Approved This Week, And The Parties Are Required To Concede In The Interest Of The People

Parliament announced that it would keep its legislative session open "without a holiday" until the approval of the budget, which was halted due to political differences regarding its items. For those quantities or their establishments, as well as the relationship between the federal government and Erbil regarding the management of oil revenues from exports and other details contained in the articles of the region in the budget (12-13-14), and the disputes led to the disruption of the activities of the Finance Committee that was about to send the budget to Parliament To select and acknowledge a session.

 A member of the Parliamentary Finance Committee, Iman Abdel-Razzaq, said, in a statement to the official newspaper, followed by Al-Mutala, that: “The legislative term remains open until the budget is approved, as the parliament is not obliged to take its recess after the ninth of the current month of June – the date of a month’s passage since the extension of the legislative term – and It is waiting until the budget is approved.

The member of the committee criticized the current reality of the budget discussions, and said: "So far, there have been no initiatives or agreements regarding the budget," expressing her regret for this situation, "as the entire people are waiting for this project," and noting that "the agreements are now taking place in (closed rooms, And not in the Finance Committee that completed the items of the budget, but disagreements over some articles that paralyzed the movement of the committee and the budget became in the hands of the political blocs.

 And she continued, "The legislative term has been extended in order to approve the budget law, and everything is currently suspended waiting for it, so there is no investment, appointments, or contracts due to political differences." News about the agreement between them, and we do not believe that the budget will be approved during the current week.   LINK

The Democrat Announces A Preliminary Agreement To Pass The Budget[/Size]

Information/Baghdad..   The representative of the Kurdistan Democratic Party, a member of the Oil and Gas Committee, Sabah Sobhi, confirmed, on Monday, that the political forces had not reached a final agreement regarding the share of the region, calling on the Finance Committee to adopt the formula of the agreement signed with Prime Minister Muhammad Shia Al-Sudani regarding the export of oil.

Sobhi said in an interview with Al-Maalouma agency, "The Parliamentary Finance Committee's changes to the draft federal budget violated the agreement of Prime Minister Muhammad Shia'a al-Sudanese regarding the export of Kurdistan's oil."

He added, "There is an initial rapprochement between all political forces, and they need to mature those understandings in order to announce the final understanding to pass the budget," noting that "the government is not ready to add new financial allocations that burden the budget.”

He pointed out that "negotiations are still ongoing and we expect the budget to be passed soon," stressing that "the last node is Articles 13 and 14 within the budget."

The representative of the Sovereignty Alliance, Adnan Al-Juhaishi, revealed, in a previous interview, a political agreement between the political forces and parties to legislate the budget law during the current week. LINK

Parliamentary Finance: The Legislative Term Will Not Be Suspended Without Passing The Budget[/Size]

Information/Baghdad..   The Parliamentary Finance Committee denied Parliament's intention to announce the legislative recess before the completion of the budget law.

Committee member Iman Abdel-Razzaq said, in a statement reported by "Al-Sabah", which was seen by Al-Maaloumah, "The legislative term will remain open until the budget is approved, as the parliament is not obliged to take its vacation after the ninth of this month, but rather waits until the budget is approved."

She added that "there are no initiatives or agreements regarding the budget," expressing her regret for this situation, as the entire people are waiting for passage. "The 

legislative term has been extended in order to approve the budget law, since the interests of the people in terms of investments or appointments are all suspended until the law is passed," she added. LINK

Parliamentary legislative season {open} until approval of the budget

Baghdad: Shaima Rashid   Parliament kept its legislative session open "without a holiday" until the approval of the budget, which was halted due to political differences regarding its items. After the Finance Committee completed voting on most of its items, it collided with the region's refusal - specifically the Democratic Party - the mechanism for calculating the quantities of oil produced in the region and the party receiving those quantities or establishing them.

As well as the relationship between the federal government and Erbil regarding the management of oil revenues from exports and other details included in the articles on the region in the budget (12-13-14), and the disputes led to the disruption of the activities of the Finance Committee, which was about to send the budget to Parliament to set a session and approve it.

A member of the Parliamentary Finance Committee, Iman Abdel-Razzaq, said in an interview with “Al-Sabah”: “The legislative term remains open until the budget is approved, as the parliament is not obliged to take its recess after the ninth of the current month of June – when a month has passed since the extension of the legislative term – but rather waits until Approval of the budget.

The committee member criticized the current reality of the budget discussions, and said: "So far, there have been no initiatives or agreements regarding the budget," expressing her regret for this situation, "as the entire people are waiting for this project," and noting that "the agreements now take place in (closed rooms, not In the Finance Committee, which completed the items of the budget, but disagreements over some articles that paralyzed the committee’s movement, and the budget became in the hands of the political blocs.

And she continued, "The legislative term has been extended in order to approve the budget law, and everything is currently suspended waiting for it, so there is no investment, appointments, or contracts due to political differences." News about the agreement between them, and we do not believe that the budget will be approved during the current week.    https://alsabaah.iq/78345-.html