Dinar Recaps 20 6/10/23 Dinar Recaps 20 6/10/23

Goldilocks "Watch The Water" Saturday 6-10-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks continues today with lots of news and comments to help with understanding what is happening this month:

Zimbabwe has just moved into a trade liberalization policy. This reduces barriers to trade among countries such as tariffs and quotas.

Reducing barriers to trade lowers the cost of goods sold in importing countries.

Zimbabwe has just enacted a monetary policy that gives them more purchasing power. It increases the demand for their currency, and this demand will increase its value.

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks continues today with lots of news and comments to help with understanding what is happening this month:

Zimbabwe has just moved into a trade liberalization policy. This reduces barriers to trade among countries such as tariffs and quotas.

Reducing barriers to trade lowers the cost of goods sold in importing countries.

Zimbabwe has just enacted a monetary policy that gives them more purchasing power. It increases the demand for their currency, and this demand will increase its value.

https://www.chronicle.co.zw/wholesale-foreign-exchange-auction-allots-us112mln-to-banks/

Zimbabwe has also devalued it's current currency exchange rate.

This announcement has came during a time of a currency crisis that required an intervention.

They decided to set up new mechanisms of trade stating they would sell hard currency

“at the market-determined exchange rate."

This moves them off of a predetermined exchange rate and on to a new exchange rate based upon the demand for their currency.

These new prices will evolve into new price action patterns and be supported by the gold they hold extending their net worth.

Central Banking LINK

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Central bank to announce new monetary policy soon."

Bangladesh is adopting a similar policy as Zimbabwe whereby they are going to allow the market to determine their new currency exchange rates.

They went on to say that this new change is expected to come in July.

Do you see a pattern taking place yet regarding SOFR lending services and how it will transform monetary policies regarding exchange rates going forward?

Watch the water.

https://www.observerbd.com/news.php?id=423169

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"US House to Provide Clarity on the Digital Asset Ecosystem"

Congress has a draft with bipartisan support of the Democrats and the Republicans on Stablecoins. It will now move forward into the legislative process.

This will provide direction for a new digital asset-based trading system allowing for a standardized approach to international trade and exchange rates.

It's all about the water my friends.

https://coingape.com/us-house-releases-stablecoin-bill-bring-clarity-giving-fed-authority/

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Institutional Kitchens Being Warned "Have Food Stored for 10 Day Disruption in Supply Chain"

This is probably a good idea for the average person to do the same.

We all knew this was coming. Our 10 days of darkness into light are clearly upon us.

This should be just enough time to make changes to a new digital asset based trading/monetary system.

Watch the water.

Hal Turner Radio Show LINK

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While everyone else is watching the budget pass in Iraq, this room will focus on the actual changes that will take place for all markets around the world to enter into a Global Currency Reset as we have today.

© Goldilocks

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Banks advised to pay attention to liquidity when large savings mature | Business | Vietnam+ (VietnamPlus)

VietnamPlus LINK

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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

Dinar Recaps 20 6/10/23 Dinar Recaps 20 6/10/23

Alex Mooney Aims To Block Fed's Digital Currency Scheme

Alex Mooney Aims to Block Fed’s Digital Currency Scheme

Saturday, 10 June 2023, 7:40 AM

In recent days, sound money champion Congressman Alex Mooney (R-WV) introduced H.R. 3712, the Digital Dollar Pilot Prevention Act – legislation that would block the Fed from unilaterally pursuing any form of central bank digital currency (CBDC) scheme.

“Congress cannot give an inch when it comes to CBDCs. CBDCs would threaten the liberties of law-abiding Americans and are being used by authoritarian countries right now to crack down on dissent,” said Rep. Mooney.

H.R. 3712 is the latest in a growing backlash to central planners’ designs to further centralize government control of currencies, including creating a greater ability to track all financial transactions, disallowing certain types of purchases, and even outright “turning off” a targeted individual’s access to money.

Alex Mooney Aims to Block Fed’s Digital Currency Scheme

Saturday, 10 June 2023, 7:40 AM

Rep. Mooney’s bill defines “central bank digital currency” as “a form of digital money or monetary value, denominated in the national unit of account, that is a direct liability of the Federal Reserve.”

The bill continues, “Unless authorized by an Act of Congress enacted after the date of the enactment of this act, the Board of Governors of the Federal Reserve System and the Federal reserve banks may not establish, carry out, or approve a program intended to test the practicability of issuing a central bank digital currency, including by partnering or coordinating with a private sector entity to carry out such a program.”

H.R. 3712 has already attracted support, with more than a dozen original cosponsors and several endorsements from pro-liberty groups.

“Spending time and taxpayer resources on research or pilot programs would be an end-around on Congressional intent, authorization, or jurisdiction. The Federal Reserve should be focused on fulfilling its formal mandate of taming Bidenflation, not mimicking China,” David McIntosh, President, Club for Growth.

Meanwhile, the opposition to central bank digital currencies is actually somewhat bipartisan.

Republican Presidential hopefuls Ron DeSantis and Vivek Ramaswamy, along with Democrat Robert F. Kennedy Jr., have spoken out about the dangers of a centralized government-run digital currency.

Sen. Ted Cruz (R-TX) and Rep. Tom Emmer (R-MN) have also come out against CBDCs, with the latter claiming that Democrats quietly support anti-CBDC legislation as well.

Governor DeSantis recently signed legislation banning any involvement with a digital dollar as to the State of Florida, including any CBDC being viewed as money within the meaning of Florida’s Uniform Commercial Code (UCC). Several other states are now considering similar measures to pump the brakes on a potential FedCoin.

Under a CBDC scheme, a time-stamped ledger of every single transaction by every single individual and/or firm would create existential threats to privacy. Centralizing the financial history of every U.S. citizen poses other dangers as well.

It’s easy to imagine how this level of data collection could be weaponized against individuals who step outside of government-favored opinions and activities.

Donate to a cause the political class has bashed as dangerous? There goes access to your life savings. Buy or sell a product not approved by the powers that be? Your assets are frozen with the click of a mouse.

CBDCs enable what amounts to a government-granted allowance.

Rep. Mooney said, “CBDCs are not about innovation – they are about control.”

By contrast, returning to a monetary standard based in gold would help restore the freedom and privacy of the individual. And gold has historically been a stable and trusted store of wealth, largely outside the clutches of central planners.

Sound money is subject to – and determined by – market forces, serves as a natural check against unrestrained currency creation, and protects purchasing power over time.

To be sure, the Federal Reserve note system is broken. But doubling down on this failed experiment in fiat currency by adding more government tracking and control will bring about even greater destruction.

Source: Money Metals

https://dinarchronicles.com/2023/06/10/alex-mooney-aims-to-block-feds-digital-currency-scheme/

Dinar Recaps 20 6/10/23 Dinar Recaps 20 6/10/23

"Tidbits From TNT" Saturday 6-10-2023

TNT:

Tishwash: The release of 3 billion dollars of frozen Iranian funds in Iraq

The head of the joint Iranian-Iraqi Chamber of Commerce, Yahya Al-Ishaq, announced today, Saturday, that part of the Iranian debt owed to Iraq has been liberated.

Al-Ishaq said, in press statements, that "part of these refunds from Iraq has been allocated to the needs of Iranian pilgrims."

He added, "Another part of it was paid for the supply of basic commodities."

And he continued, "According to the news received, the amount paid is estimated at about $3 billion."

TNT:

Tishwash: The release of 3 billion dollars of frozen Iranian funds in Iraq

The head of the joint Iranian-Iraqi Chamber of Commerce, Yahya Al-Ishaq, announced today, Saturday, that part of the Iranian debt owed to Iraq has been liberated.

Al-Ishaq said, in press statements, that "part of these refunds from Iraq has been allocated to the needs of Iranian pilgrims."

He added, "Another part of it was paid for the supply of basic commodities."

And he continued, "According to the news received, the amount paid is estimated at about $3 billion."

Iran has previously announced that the volume of Baghdad's debts in its favor amounted to 18 billion dollars, stressing that the United States only allowed the payment of 500 million dollars of these debts link

Tishwash: What does JPMorgan's willingness to support Iraqi banks mean?

The US "JP Morgan" bank expressed its willingness to support Iraqi trade financing operations, during a meeting with the Governor of the Central Bank of Iraq, on Friday.

He called on the Iraqi Central Bank, "JP Morgan" to open a representative office in Iraq, "promising it to provide the necessary support to facilitate this step because it represents positive repercussions on the Iraqi economy in general," according to what the Central Bank of Iraq reported on its official website .

In an interview with " Al-Hurra " channel , the economist, Mahmoud Dagher, says that "GB Morgan" is one of the largest banks in the world, and it has great weight in the "correspondence process" between banks in the world.

Step importance

Regarding the importance of the bank to Iraq, the expert points out that the bank is classified in a high order, so Iraqi banks need it as an intermediary to transfer funds to exporting companies around the world, especially those that use the dollar.

The expert believes that Iraqi banks need classified banks that can help them in light of changing the new international transfer rules, and that Iraq has responded to its compliance rules.

For Dagher, JPMorgan could help Iraqi banks with money transfers and "capacity building" operations to establish new qualifications. As "most of the banks in the private sector...are modern and need training and development," as he put it.

According to Dagher, Iraqi banks need safe, classified banks at the level of “GB Morgan” for such operations, because “Iraq is one of the countries whose imports reach $60 billion, and this is a large amount,” in addition to government imports that are just over $10 billion. dollars, according to the economist.

The expert believes that whenever large banks, including JPMorgan, are able to secure credits and remittances and transfer them to the "final recipient" in European countries and the United States, "we will be able to provide better service to Iraqi merchants, while applying compliance rules."

Dagher concludes that the bank "has great weight and its presence in Iraq will encourage others to enter the market, and there is a list of banks that exchange information with 'JP Morgan' to be accepted by the bank as a correspondent," according to the Iraqi expert.

The Central Bank of Iraq said that the vice president of JP Morgan Bank, Daniel Zeliko, praised "the recent measures taken by the Central Bank of Iraq in the field of combating money laundering and terrorist financing and the adoption of international standards in money transfers." link

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Tishwash: Central Bank Governor: Dollar exchange rates will drop significantly in the coming days

Today, Saturday, the Central Bank revealed its plans to raise financial and gold reserves, and while it specified its procedures for installing prepaid devices, it clarified its plans for restructuring government banks.

The Governor of the Central Bank, Ali Al-Alaq, said in a statement to the official agency, followed by “NAS”, (June 10, 2023), that “packages of instructions for financing in foreign currencies abroad have been launched with the launch of the electronic platform,” noting that “the aim of this package is to meet the requests of All the needs of the Iraqi economic sectors, in addition to the needs of citizens for travel, treatment and study.

Al-Alaq added, "These packages contributed to organizing a large part of the trade process in Iraq through the entry of various sectors into the official channels of transfer, and mitigated exchange rate fluctuations, which at the beginning of the launch of the platform in the market reached approximately 160 thousand dinars per dollar." , stressing that "there is a significant improvement in the work of the trade financing platform and the cash payment platform, and that proceeding in this framework will contribute to a significant decrease in the exchange rate in the coming days."

And he continued, "There is no need to launch new urgent packages at the present time, as the operations are proceeding consistently through electronic platforms with the presence of some operational obstacles or obstacles related to international commercial operations related to financing. Each case is resolved separately, and therefore we see that the situation is going well." towards stability and there is no need to take additional measures.

And regarding setting $2,000 as a maximum limit for spending on Visa and MasterCard cards abroad, Al-Allaq explained, “The aim of setting ceilings for cash withdrawals from payment cards is to avoid misuse of these cards by weak-minded people and currency speculation, since continuing with the previous situation exposes the financial sector to a great threat.” And pushes for more currency smuggling.”

Regarding the operations of seizing cards at airports, the governor of the Central Bank said: “We believe that this issue has ended or is nearing completion through the circulars issued by this bank, which obligated banks and payment companies to issue one card for each customer and use the biometric fingerprint, and to set ceilings for cash withdrawals and the cooperation of the security services.” with this bank.

Regarding the insistence of some merchants on buying dollars from the parallel market, Al-Alaq said: "The insistence of some merchants on such transactions despite the facilities provided by this bank constitutes a factor of instability in the exchange rate and also exposes the owners of these transactions to legal accountability," stressing that "The failure of small traders to turn into companies that were allowed to enter the window and their insistence on financing through informal methods by buying currency from the secondary market puts pressure on the exchange rate towards an upward trend, and therefore we urge these merchants to establish small companies to enter the window and obtain dollars at the official rate."

He pointed out that "the Central Bank's procedures in monitoring the decision to deal in Iraqi dinars instead of dollars by investment companies and the sale of housing units in investment complexes are carried out through coordination with the National Investment Commission and the office of the Chairman of the Supreme Committee for the Support of the Dinar and law enforcement agencies, as well as the facilities provided by these The complexes, all sides agreed to accept the Iraqi dinar.

Regarding the central bank's plans to implement the government bank restructuring program, Al-Alaq explained, "The central bank's plans to implement the restructuring program continue, but the progress of this project is slow, because of its association with other parties related to the Federal Bureau of Financial Supervision and the Ministry of Finance, or because of the weak human capabilities available to it." Government banks," pointing out that "the Central Bank continues to provide support to these banks to improve the quality of data, including conducting an assessment of the quality of assets for the Rafidain and Rasheed banks, as an international auditing company was contracted for this purpose, and this bank bore the cost of contracting with this company."

And he continued: “As for private banks, the control process continues through the supervisory tools of this bank, and at the same time work is being done to update the instructions and controls regulating banking work and in cooperation with international institutions in order to implement international standards and international best practices, and the most prominent of these projects are the following: -

1- Draft supervisory work guide / risk management controls in commercial banks.

2- Draft capital adequacy controls.

3- The Scorecard Project for Environmental, Social and Corporate Governance Standards (ESC), where this bank issued the first report on the results of (ESC) on 1/23/2023, which is the first of its kind that reflects on the extent to which environmental, social and corporate governance standards are applied in the Iraqi banking sector.

4- Work is currently underway to update the disclosures and financial statements of commercial banks, in cooperation with the Middle East Technical Assistance Center (METAC).

5- A project to develop regulatory tools to deal with systemically important local banks.

Regarding the Central Bank's procedures for installing prepaid devices that were installed in a number of locations, Al-Alaq said that "based on the decision of the General Secretariat of the Council of Ministers No. 23044 of 2023, paragraph (2) thereof, this bank received a number of requests from ministries and government and private institutions, and it was completed." Addressing it to approach companies providing electronic payment services and request offers to supply, install and operate point-of-sale (POS) devices according to the mechanism and strategy of this bank.

He pointed out that “the above entities were provided with the names of payment service providers licensed by this bank to actively (processor, collector) for the purpose of concluding the agreements required to serve the collection of funds electronically for financial dues through (POS) devices,” noting that “electronic payment service provider companies can Licensors collect amounts due for services provided by institutions and government departments electronically, whether in connection with electronic payment gateways or directly through the deployment of point-of-sale (POS) devices.

He stressed that "the electronic bill payment project has already been launched for a number of billed departments affiliated to the ministries (construction, housing, public works, trade, electricity, interior - passports)."

With regard to the procedures of the Central Bank regarding monitoring money laundering operations and recovering funds smuggled abroad, Al-Alaq stated that, “Based on Article 9 (9 / First / A) of the Anti-Money Laundering and Terrorist Financing Law No. (39), the work of the Anti-Money Laundering Office And the financing of terrorism is receiving or obtaining reports or information about transactions that are suspected of including the proceeds of a predicate crime, money laundering, or terrorist financing from the reporting authorities. Use of prepaid cards by criminals.

He went on to say, "Following the reports received, the office took the following actions:

A- The Ministry of Finance / General Authority of Customs was approached for the purpose of preventing the issuance of any card that does not bear the name of the card holder (prepaid cards / cards).

B- The office issued a circular to the companies and banks that issued these cards, which included the following:

1- The ceiling of the aforementioned card is (10,000,000) dinars (ten million Iraqi dinars), and the holder of the aforementioned card may withdraw cash up to (3,000) dollars (three thousand dollars) or its equivalent in the currencies of other countries outside Iraq per month.

2- Due diligence measures are taken when recharging, based on Article (10) of the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and the controls and instructions issued thereunder.

3- The company or the bank has the right to issue only one prepaid card for the same customer, with the necessity that these cards be issued in the customer’s name, and the customer’s name is recorded on the card.

He pointed out that "the office carries out investigations and analysis of the information received from the above authorities, on the basis of which the defaulters are identified from individuals, companies and banks, and a number of suspicious transactions have been referred to the courts specialized in combating money laundering and terrorist financing, based on Article (9 / first / c). ) of the above law, which states: Reports that are based on reasonable grounds for suspicion of money laundering, terrorist financing or predicate offenses shall be referred to the Presidency of the Public Prosecution Office to take legal action in their regard, and to notify the relevant authorities of that.

Regarding plans to raise financial and gold reserves in the central bank, Al-Alaq indicated that “the two most important factors that determine the accumulation and depletion of foreign reserves are external, as the accumulation of reserves is mainly linked to the amount of oil exports and the price of a barrel, while the depletion of reserves takes place through importing goods and services as well as transfers.” Foreign Affairs," stressing that "under normal conditions, this bank aims to build a sustainable level of foreign reserves while ensuring high liquidity and relatively good returns."

He continued, "With regard to gold, this bank places increasing its holdings of gold on a high level of importance, and by the end of this year, this bank aims to increase its holdings by at least the equivalent of $500 million."

To them, it is derived after that by reallocating 50% of the total loan installments previously granted, whose total loans financed by the Central Bank through its initiative amount to more than 10 trillion dinars. link

Mot: and Yet another Amazing ""Insight Tip"" from Mot on being Married! ~~~

Mot: .. ooooh...... ooooh...... ooooh...... ((( Uve been Warned! )))

DINARRECAPS8 6/10/23 DINARRECAPS8 6/10/23

Saturday Morning Iraq Economic News Highlights 6-10-23

The Difficult Nights Of The Budget.. Another Round Of Maneuvers To Vote On The Deferred Paragraphs

Policy |Baghdad today - Baghdad Some paragraphs of the federal budget are still captive to political differences, while the coordination framework seeks to gather the scene and proceed with approval according to consensus.

The House of Representatives had voted during the Thursday and Friday sessions on some paragraphs of the federal budget, while others were postponed to today, Saturday, especially Articles 14-15-16-17, especially 14 related to the management of Kurdistan oil funds.

Saturday Morning Iraq Economic News Highlights 6-10-23

The Difficult Nights Of The Budget.. Another Round Of Maneuvers To Vote On The Deferred Paragraphs

The representative of the Al-Fateh Alliance, which is affiliated with the "State Administration" coalition, Karim Al-Muhammadawi, commented on the possibility of voting on the deferred paragraphs of the budget law during today's session.

Al-Muhammadawi told (Baghdad Today) that "the House of Representatives postponed voting on some paragraphs of the budget law, due to the existence of political differences over them."

He added, "Voting on it during today's session depends on the existence of a political agreement on that."

He explained, "There are efforts that will be made by the political forces in order to reach final solutions with the aim of voting on the deferred paragraphs of the budget law and proceeding to pass the entire law during today's session."

After the deep differences raised by the draft federal budget law between the main parties in the Kurdistan region, the differences moved to the center and under the dome of parliament by objecting to Articles 14-17 in the draft law and refusing to vote on it, especially with regard to the region's oil revenues.

While observers of political affairs believe that "the draft budget law every time before it is passed, it witnesses difficult labor because of the partisan interests that were and are still taking precedence over the interests of the country and the citizen." LINK

Parliamentary Finance: The Dispute Over The Budget Over Oil And The Share Of The Region

Representative Jamal Cougar Money and business Economy News – Baghdad Today, Friday, a member of the Parliamentary Finance Committee, Jamal Kocher, identified the budget articles around which the dispute revolves, stressing that a settlement has not yet taken place.

Cocher said in a press interview, "The dispute is about Articles 13 and 14 of the budget."

He added, "The settlement has not yet been finalized, and there are understandings that have been translated into texts for the two articles, which also contain notes that were not agreed upon by the Democratic Party."

He explained, "These materials talk about the delivery of Kurdistan's oil and how to calculate the region's share of it." Views 428 06/09/2023 - https://economy-news.net/content.php?id=34659

Iraq's Budget.. Parliament Votes On Three New Articles And Deletes One

Policy 2023-06-09 | 19,161 views Today, Saturday, the House of Representatives voted on new articles within the Federal Budget Law.

The media department of the Council stated in a statement received by Alsumaria News, that "the House of Representatives voted on Articles (21, 23, 24) of the Budget Law."

She pointed out that "the Council voted to delete Article 22 of the draft law."

Below is the text of Article 22, which Parliament decided to delete:

https://www.alsumaria.tv/uploadImages/ExtImages/Images1/ExtImage-365759-225029344.jpg

LINK

The Budget.. The Sharp Differences Between The Barti Deputies Cause The Postponement Of The Vote On Articles 14 And 15

June 10, 2023 Baghdad / Obelisk Event: The events of the budget approval session.. Moment by moment:

Sharp disagreements between the Parti deputies cause the postponement of the vote on Articles 14 and 15 of the budget law

The budget voting session enters its third day in a row

The House of Representatives votes on Article 13 regarding the export of Kurdistan region's oil

Parliament begins reading Article 13 of the federal budget

The House of Representatives votes on Article 12 regarding the share of the Kurdistan region

Parliament successfully continues to vote on articles of the budget law

The House of Representatives begins reading Article 9 of the Budget Law

Parliament votes on the paragraphs of Article II of the budget

Parliament finishes reading the axes of the Chinese agreement, the new loans and the energy file within the second article of the budget

The House of Representatives continues to read Article Two of the budget

Zahra Al-Bajari, representative of the Al-Sadiqun Bloc: Collecting signatures to include Article 15 of workers and lecturers

Start reading the second article of the budget, on which the vote was postponed during Thursday's session

Now... the number of attendees has reached 259 deputies inside the hall

Parliament resumes voting on the budget

All deputies return to the session hall after agreeing on the controversial points

Al-Halbousi heads to the parliament hall to complete the budget voting session

Thamer Dhiban, representative of Al-Asa'ib: The budget will be passed without the presence of the Democratic representatives and the articles of the region will be drafted in accordance with the constitution and the law

The Speaker of Parliament temporarily suspends the voting session on the budget

Al-Amiri meets with Al-Halbousi and some blocs of the Shiite framework to discuss the controversial paragraphs

News of Barzani's party deputies leaving the voting session on the budget

Parliament ends the first reading of the draft law proposal for the

second amendment to the law replacing members of parliament

The Kurdistan Democratic Bloc attends the voting session on the budget

Al-Halbousi calls on the Finance Committee to read the remaining paragraphs of the budget

The House of Representatives holds its session to complete the vote on the budget

The deputies started flocking to the session hall in preparation for holding it and voting on the budget

The House of Representatives rings its bell, signaling the start of the budget session

Masrour Barzani: I hope that the Kurdish blocs will deal with the budget law with a sense of responsibility

Source: Continuing dialogue with the Kurds on Articles 13 and 14 of the budget

News of a comprehensive agreement to pass the budget

Source: The Presidency of Parliament and heads of framework blocs will vote on the budget

An informed source: The discussions of the heads of blocs with the Presidency of Parliament focused on finding settlements on contentious points.

Al-Halbousi holds a meeting with Al-Amiri and the heads of the coordination framework blocs

The heads of the framework forces meet with their deputies before entering the budget voting session

The House of Representatives adjourns its session for one hour

The House of Representatives votes on Articles 1 and 2 of the Budget Law

The Finance Committee begins by reading the paragraphs of the federal budget copy

Media Department of the House of Representatives: The number of attendees at the session is 258 deputies

Al-Halbousi calls on the Finance Committee to read the budget and directs the number of representatives present

Representative of the Parliamentary Finance Committee, Uday Awad: Today’s session will witness the passage of 15 articles of the budget law, and the rest of the articles will be completed on Friday

Start distributing a copy of the federal budget to the deputies

Conflicting news about postponing the budget vote until further notice

The meeting of the Presidency of Parliament with the Finance Committee and the heads of parliamentary blocs ends before the budget voting session

Al-Halbousi chairs a meeting of the Finance Committee, in the presence of First Deputy Mohsen Al-Mandalawi, Shakhwan Abdullah, and heads of parliamentary blocs, prior to the voting session.

Representative Sarwa Abdel Wahed: We will boycott the voting session on the budget if the compulsory savings clause is not added

The number of deputies inside the hall exceeds 100 deputies, with a large number in the courtyard of the parliament.

MP Baqir Al-Saadi: The approval session will take place at ten o'clock in the evening

Representatives of the Patriotic Union of Kurdistan bloc: We will not meet with the Democrat and we are going to vote on the budget

Al-Halbousi will soon chair the meeting of the Finance Committee for the final vote, before the session is held

Representative Firas Al-Maslamawi: A large turnout of parliament members and a comfortable majority to pass the budget

The National Union: We will participate in the session to pass the budget law. We will vote on the general budget for 3 years

70 deputies are present inside the hall, with a group of deputies holding closed meetings

Representatives of the Azm Alliance arrive at the parliament building in preparation for the session

MP Sarwa Abdel Wahed: So far, the Finance Committee has not fully voted on the budget

Sarwa Abdul Wahed: There is a clause obligating the Kurdistan government to return what it stole from the employees' salaries

MP Muhammad Al-Baldawi: Most of the political blocs met in their headquarters to discuss the vote on the budget

News of the postponement of the parliament session to ten o'clock in the evening

MP Mustafa Sanad: The leaders of the blocs omitted the crowd differences.

An upcoming meeting of the Parliament Presidency with the Finance Committee and the heads of the blocs to agree on the final version of the budget

Independent deputies flock to the parliament building in preparation for holding a session to vote on the budget

The two deputy speakers of the House of Representatives arrive at the parliament building

Representatives of the bloc flocked to parliament in preparation for the session.

Representatives within the House of Representatives, the amendments have caused an additional burden on the oil companies

Representatives of the coordination framework hold a meeting in the House of Representatives prior to the start of the session dedicated to voting on the budget

Members of the House of Representatives flock to the parliament building to participate in the session to pass the budget law

A meeting of the Kurdish blocs inside the parliament building before the budget vote session

A number of deputies are complaining that they did not obtain a copy of the budget before voting on it

MP Basem Al-Gharibawi: Today's session may not be held at 8 pm due to the absence of consensus

Representative Abbas Al-Zamili: The Badr Parliamentary Bloc is determined to pass the budget law

https://almasalah.com/archives/55402

Central Bank Governor: Dollar Exchange Rates Will Drop Dramatically In The Coming Days

2023.06.10 - Baghdad - people Today, Saturday, the Central Bank revealed its plans to raise financial and gold reserves, and while it specified its procedures for installing prepaid devices, it clarified its plans for restructuring government banks.

Regarding setting $2,000 as a maximum limit for spending on Visa and MasterCard cards abroad, Al-Allaq explained, “The aim of setting ceilings for cash withdrawals from payment cards is to avoid misuse of these cards by weak-minded people and currency speculation, since continuing with the previous situation exposes the financial sector to a great threat.” And pushes for more currency smuggling.”

"The failure of small traders to turn into companies that were allowed to enter the window and their insistence on financing through informal methods by buying currency from the secondary market puts pressure on the exchange rate towards an upward trend, and therefore we urge these merchants to establish small companies to enter the window and obtain dollars at the official rate."

Governmental banks," pointing out that "the Central Bank continues to provide support to these banks to improve the quality of data, including conducting an assessment of the quality of assets for the Rafidain and Rasheed banks, as an international auditing company was contracted for this purpose, and this bank bore the cost of contracting with this company."

1- Draft supervisory work guide / risk management controls in commercial banks.

2- Draft capital adequacy controls.

4- Work is currently underway to update the disclosures and financial statements of commercial banks, in cooperation with the Middle East Technical Assistance Center (METAC).

5- A project to develop regulatory tools to deal with systemically important local banks.

And he pointed out that “the above entities were provided with the names of payment service providers licensed by this bank to actively (processor, collector) for the purpose of concluding the agreements required to serve the electronic collection of funds for financial dues through (POS) devices,” indicating that “electronic payment service provider companies can Licensors collect amounts due for services provided by institutions and government departments electronically, whether in connection with electronic payment gateways or directly through the deployment of point-of-sale (POS) devices.

With regard to the Central Bank's procedures regarding monitoring money laundering operations and recovering funds smuggled abroad, Al-Alaq stated, "Based on Article 9 (9 / First / A) of the Anti-Money Laundering and Terrorist Financing Law No. (39), the work of the Anti-Money Laundering Office And the financing of terrorism is receiving or obtaining reports or information about transactions that are suspected to include the proceeds of a predicate crime, money laundering, or terrorist financing from the reporting authorities. The use of prepaid cards by criminals.

He went on to say, "Following the reports received, the office took the following actions:

A- The Ministry of Finance / General Authority of Customs was approached for the purpose of preventing the issuance of any card that does not bear the name of the card holder (prepaid cards / cards).

B- The office issued a circular to the companies and banks that issued these cards, which included the following:

3- The company or the bank has the right to issue only one prepaid card to the same customer, with the necessity that these cards be issued in the customer’s name, and the customer’s name is recorded on the card.

Regarding plans to raise financial reserves and gold in the Central Bank, Al-Alaq indicated that “the two most important factors that determine the accumulation and depletion of foreign reserves are external, as the accumulation of reserves is mainly linked to the amount of oil exports and the price of a barrel, while the depletion of reserves takes place through importing goods and services as well as transfers.” Foreign Affairs," stressing that "under normal conditions, this bank aims to build a sustainable level of foreign reserves while ensuring high liquidity and relatively good returns."

And about the housing loan initiative between Al-Alaq, that “the housing loans did not stop, as the circular of this bank No. 6/5/988 on 4/27/2023 in paragraph (5) of it indicated that the financing of applications submitted to the Real Estate Bank and the Housing Fund within the allocated allocation would continue.” To them, it is derived after that by reallocating 50% of the total loan installments previously granted, whose total loans financed by the Central Bank through its initiative amount to more than 10 trillion dinars. https://www.nasnews.com/view.php?cat=108856

The Central Bank: Merchants' Insistence On Buying Dollars From The Parallel Market Exposes Them To Legal Accountability

Time: 06/10/2023 12:33:49 Read: 143 times {Economic: Al Furat News} Central Bank Governor Ali Al-Alaq confirmed today, Saturday, that the insistence of some merchants to buy dollars from the parallel market exposes them to legal accountability.

Al-Alaq said, in a press statement, that "packages of instructions for financing in foreign currencies abroad were launched with the launch of the electronic platform," pointing out that "the aim of this package is to meet the requests of all the needs of the Iraqi economic sectors in addition to the citizens' needs for travel, treatment and study."

Repair packages

Regarding the central bank's plans to implement the government bank restructuring program, Al-Alaq explained, "The central bank's plans to implement the restructuring program continue, but the progress of this project is slow, because of its association with other parties related to the Federal Bureau of Financial Supervision and the Ministry of Finance, or because of the weak human capabilities available to it." Governmental banks," pointing out that "the Central Bank continues to provide support to these banks to improve the quality of data, including conducting an assessment of the quality of assets for the Rafidain and Rasheed banks, as an international auditing company was contracted for this purpose, and this bank bore the cost of contracting with this company."

1- Draft supervisory work guide / risk management controls in commercial banks.

2- Draft capital adequacy controls.

4- Work is currently underway to update the disclosures and financial statements of commercial banks, in cooperation with the Middle East Technical Assistance Center (METAC).

5- A project to develop regulatory tools to deal with systemically important local banks.

Money laundering operations

He went on to say, "Following the reports received, the office took the following actions:

A- The Ministry of Finance / General Authority of Customs was approached for the purpose of preventing the issuance of any card that does not bear the name of the card holder (prepaid cards / cards).

B- The office issued a circular to the companies and banks that issued these cards, which included the following:

DINARRECAPS8 6/9/23 DINARRECAPS8 6/9/23

Iraqi News Highlights Friday Evening 6-9-23

Tlm724 Administrator Bondlady’s Corner

Shaddad: The Oil And Gas Law Will See The Light Immediately After The Budget

Information / Baghdad..The Oil and Gas Committee confirmed, on Thursday, the existence of a prior agreement between the forces of the state administration to legislate the oil and gas law immediately after approving the budget, indicating that the region has no choice but to proceed with the legislation of the law.

Committee member Representative Ali Shaddad Al-Faris said in a statement to Al-Maalouma, that "the regional government and its political forces have no choice but to proceed with the legislation of the oil and gas law, especially after Federal Court Decision No.

Iraqi News Highlights Friday Evening 6-9-23

Tlm724 Administrator Bondlady’s Corner

Shaddad: The Oil And Gas Law Will See The Light Immediately After The Budget

An exaggeration by the Central Bank of Iraq through the Federal Ministry of Finance, as well as the decision of the International Court in Paris, which prevented Turkey from receiving oil through the region and exporting it abroad, as large financial fines were imposed on the Turkish side in this regard. He added,

"The forces of the state administration, including the Kurdish parties, have a prior agreement to legislate the oil and gas law immediately after voting on the federal budget.

Likewise, the Oil and Gas Committee also has prior directives from the forces of the state administration to prepare to discuss the law to put it to vote."

It is noteworthy that the suspended oil and gas law in Parliament since its first session, in 2005, is one of the most prominent points on which a preliminary agreement was reached between the governments of Baghdad and the region,

but the law faces many obstacles, despite the fact that it helps to resolve the differences between the governments of Baghdad and the region. End / 25 pm

https://almaalomah.me/news/politics/شداد:-قانون-النفط-والغاز-سيرى-النور-بعد-الموازنة-مباشرة

Iraq Asks America To Solve The Problem Of Financial Dues To Iran For Gas And Electricity Exports

Money and business Economy News _ Baghdad The Iraqi government asked the United States of America to solve the problem of financial dues to Iran for its gas and electricity exports to Iraq.

And the Iraqi Ministry of Foreign Affairs stated in a statement today, Friday, that the Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, met yesterday, Thursday, 8/6/2023, with US Secretary of State Anthony Blinken, on the sidelines of the ministerial meeting of the International Coalition against ISIS, which is taking place in Riyadh.

The statement added that during the meeting, they discussed various aspects of bilateral relations between Baghdad and Washington, and ways of cooperation in various fields, and the minister stressed the importance of continuing joint work and cooperation within the "strategic framework agreement for the relationship of friendship and cooperation between the Republic of Iraq and the United States of America," appreciating the efforts of the United States. Leader of the international coalition in the fight against the terrorist organization Daesh.

The two sides discussed a range of bilateral, regional and global issues, and discussed Iraq's efforts to boost its economy and achieve energy independence, according to the statement.

The two ministers also discussed a number of regional and international issues of common concern, stressing the need to work to reduce tension, achieve calm in the region, and avoid escalation that will not serve any party.

In another aspect of the dialogue, the two ministers discussed the financial dues of the Iranian government to Iraq due to the purchase of gas and electricity from the Islamic Republic of Iran, and how to deal with the US measures against international banks, including Iraqi banks, as these measures are within the framework of the US sanctions policy on Iran.

The Deputy Prime Minister stressed the need to find a solution to this problem, as it directly affects the electrical sector in Iraq, and from this standpoint, he thanked the American side for allowing the issue of financial payments to Iranian pilgrims and from Iranian money in Iraqi banks to be resolved.

For his part, US Secretary of State Anthony Blinken affirmed that the United States is committed to supporting the stability of Iraq and the democratic process in it, and supports political stability, communication and joint action between the federal government and the Kurdistan Regional Government in a way that enhances the status and strength of Iraq in the region, hoping to reach understandings to solve outstanding problems between the two parties, especially in The oil and financial field. Views 83 06/09/2023 - https://economy-news.net/content.php?id=34651

Fall In Oil Prices

Friday 09, June 2023 10:07 | Economical Number of readings: 476 Baghdad / NINA / - Oil prices fell in early Asian trading on Friday.

Brent crude futures fell 36 cents, or 0.5%, to $75.60 a barrel, while US West Texas Intermediate crude fell 33 cents, or 0.5%, to $70.96 a barrel.

The two benchmarks fell about a dollar yesterday, Thursday, compensating for some of their losses, which earlier exceeded three dollars, after Washington and Tehran denied the validity of a report by the Middle East Eye website stating that they were close to reaching a nuclear agreement.

For the week, the two benchmarks are on track to incur a loss of about 1% and towards a second week of losses.

Oil prices rose earlier in the week after Saudi Arabia pledged large production cuts, but the gains were pared by an increase in US fuel inventories and weak Chinese export data.

On Thursday, the United States and Iran denied a report that they were close to concluding an interim agreement under which Tehran would halt its nuclear program in return for sanctions relief, including allowing it to export up to 1 million barrels of oil per day./ End

https://ninanews.com/Website/News/Details?key=1058534

The Governor Of The Central Bank Meets With The Vice President Of JP Morgan Bank

June 09, 2023 His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Allaq, met with the Vice President of the American J.P. Morgan Bank, Mr. (Daniel Zeljko) in Baghdad.

The two parties discussed ways of cooperation between JP Morgan Bank and the Central Bank of Iraq, and the American bank's willingness to support a number of Iraqi banks in financing foreign trade operations in the US dollar.

Mr. Zelikow praised the recent measures taken by the Central Bank of Iraq in the field of combating money laundering and terrorist financing and the adoption of international standards in money transfers.

His Excellency the Governor of the Central Bank of Iraq called on Mr. Zeljko to open a representative office in Iraq, promising him to provide the necessary support to facilitate this step, as it represents positive repercussions on the Iraqi economy in general, and the banking sector in particular, while the meeting touched on joint cooperation in the fields of investment management and technical support. training, in various fields.

It is noteworthy that JPMorgan Bank is the largest US bank in terms of financial assets, with assets amounting to about $4 trillion.

Central Bank of Iraq information Office 9- June – 2023 https://cbi.iq/news/view/2353

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

https://www.bondladyscorner.com/

Dinar Recaps 20 6/9/23 Dinar Recaps 20 6/9/23

Goldilocks #3 Update for Friday 6-9-2023

Goldilocks and Seeds of Wisdom

Good afternoon Dinar Recaps,

Goldilocks posted a news link on Iraq with comments:

Iraq is currently working with JP Morgan in facilitating trade in the US dollar.

"...US bank's willingness to support a number of Iraqi banks in financing foreign trade operations in the US dollar."

Iraq has come a long way in combating money laundering, terrorist financing, and the adoption of International Standards regarding money transfers.

In order for this protocol to be implemented, the FEDNOW International Payment System would need to be in play.

Iraq has until the end of the first week of July to complete their budget votes. This will enable them to join forces with the new FEDNOW.

© Goldilocks

https://cbi.iq/news/view/2353

~~~~~~~~~~

Goldilocks' Telegram Room

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Goldilocks on the Seeds of Wisdom Team Website

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Thank you Dinar Recaps

Dinar Recaps 20 6/9/23 Dinar Recaps 20 6/9/23

MilitiaMan: "Get Ready to Rumble...2023-2024-2025 Budget is Hot" 6-9-2023

IRAQ DINAR - Get Ready to Rumble.. 2023-2024-2025 Budget is Hot

MilitiaMan and Crew: 6-9-2023

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

MM: Happy Friday everybody. Obviously everyone is on pins and needles waiting for the vote on the 2023, 24 and 25 Iraqi budget. It’s been an ongoing process all day.

They postponed it a couple of times and now they are hammering out certain items and articles.

The point is they are working on finishing up this budget. They are moving forward and this isn’t going to stop.

IRAQ DINAR - Get Ready to Rumble.. 2023-2024-2025 Budget is Hot

MilitiaMan and Crew: 6-9-2023

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

MM: Happy Friday everybody. Obviously everyone is on pins and needles waiting for the vote on the 2023, 24 and 25 Iraqi budget. It’s been an ongoing process all day.

They postponed it a couple of times and now they are hammering out certain items and articles.

The point is they are working on finishing up this budget. They are moving forward and this isn’t going to stop.

https://www.youtube.com/watch?v=lX_oWfdo8dI

DINARRECAPS8 6/9/23 DINARRECAPS8 6/9/23

Iraqi News Highlights Friday Afternoon 6-9-23

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance: The Dispute Over The Budget Over Oil And The Share Of The Region

Cocher said in a press interview, "The dispute is about Articles 13 and 14 of the budget."

Iraqi News Highlights Friday Afternoon 6-9-23

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance: The Dispute Over The Budget Over Oil And The Share Of The Region

Cocher said in a press interview, "The dispute is about Articles 13 and 14 of the budget."

He explained, "These materials talk about the delivery of Kurdistan's oil and how to calculate the region's share of it." Views 84 06/09/2023 - https://economy-news.net/content.php?id=34659

US Secretary Of State: We Are Committed To Supporting The Stability Of Iraq

Political | 01:32 - 09/06/2023 Baghdad - Mawazine News US Secretary of State Anthony Blinken confirmed, on Friday, that his country is committed to supporting the stability of Iraq and the democratic process in it.

And the Ministry of Foreign Affairs stated, in a statement, which Mawazine News received a copy of, that "Deputy Prime Minister and Foreign Minister Fuad Hussein met with US Secretary of State Anthony Blinken, on the sidelines of the ministerial meeting of the international coalition against the terrorist ISIS, which is taking place in Riyadh."

The statement added, "During the meeting, they discussed various aspects of bilateral relations between Baghdad and Washington, and ways of cooperation in various fields, stressing" the importance of continuing joint work and cooperation within the strategic framework agreement for the relationship of friendship and cooperation between the Republic of Iraq and the United States of America, praising the efforts of the United States. Leader of the international coalition in the fight against the terrorist organization Daesh.

He continued, "A range of bilateral, regional and global issues were discussed, and they discussed Iraq's efforts to strengthen its economy and achieve energy independence. They also discussed

many regional and international issues of common concern, stressing" the need to work to reduce tension and achieve calm in the region, and avoid escalation. which will not serve any party.

The two ministers touched on "the financial dues of the Iranian government on Iraq due to the purchase of gas and electricity from the Islamic Republic of Iran and how to deal with the American measures on international banks, including Iraqi banks, as these measures are within the framework of the US sanctions policy on Iran," stressing the "need to find a solution."

This problem is because it directly affects the electrical sector in Iraq, and from this standpoint, the American side thanks for allowing the issue of financial payments to Iranian pilgrims and Iranian money in Iraqi banks to be resolved.

For his part, the US Secretary of State affirmed that "the United States is committed to supporting the stability of Iraq and the democratic process in it, and supports political stability, communication and joint work between the federal government and the Kurdistan Regional Government in a way that enhances the status and strength of Iraq in the region, wishing" to reach understandings to solve outstanding problems between the two parties, especially in The oil and financial field.” Ended 29/h

https://www.mawazin.net/Details.aspx?jimare=228814

The Exchange Rates Of The Dollar Against The Iraqi Dinar, Today, Friday

Economy | 09/06/2023 Baghdad - Mawazine News Today, Friday, Mawazine News publishes the exchange rates of the dollar against the Iraqi dinar on the local stock exchange.

The prices were as follows:

Purchase prices: 145,750 dinars per 100 dollars.

Selling prices: 147,750 dinars per 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=228802

An American Bank Announces Its Willingness To Support Iraqi Banks With Foreign Trade Financing Operations In The Dollar Currency

Economy | 09/06/2023 Baghdad - Mawazine News, the US "GB Morgan" bank announced, on Friday, its readiness to support a number of Iraqi banks in financing foreign trade in the US dollar.

And the Central Bank of Iraq stated, in a statement, which Mawazine News received a copy of, that “the governor of Al-Alaq received the Vice President of the American JP Morgan Bank (Daniel Zeliko) in Baghdad, and the two parties discussed ways of cooperation between the JP Morgan Bank and the Central Bank.” Iraqi, and the willingness of the American Bank to support a number of Iraqi banks in the operations of financing foreign trade in the currency of the US dollar.

And Zelikow praised, according to the statement, "the recent measures taken by the Central Bank of Iraq in the field of combating money laundering and terrorist financing and the adoption of international standards in money transfers."

The statement added that the Governor of the Central Bank of Iraq called on Zeljko to open a representative office in Iraq, promising him to provide the necessary support to facilitate this step because it represents positive repercussions on the Iraqi economy in general, and the banking sector in particular, while the meeting touched on joint cooperation in the fields of investment management. and technical support and training, in various fields.”

JPMorgan is the largest US bank in terms of financial assets, with assets amounting to about $4 trillion.

https://www.mawazin.net/Details.aspx?jimare=228808

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

https://www.bondladyscorner.com/

Dinar Recaps 20 6/9/23 Dinar Recaps 20 6/9/23

Goldilocks #2 Update Friday 6-9-2023

Goldilocks and Seeds of Wisdom #2

Good morning Dinar Recaps,

We have a correction of a date in our earlier post and one additional post:

On June 1st, 2023, we saw the FEDNOW money transfers begin.

On July 1st, 2023, FEDNOW will roll out the full version of their International Payment System.

JPMorgan will be providing their coin in utilizing this service on the METALS Blockchain.

Their coin called "onyx" owned by JP Morgan will be utilized to make money transfers Internationally.

Just this week, we saw JP Morgan integrate their coin with the UPI System in India.

This interfaces quantum computers of the United States to the BRICS Nations allowing cross-border international trades and currency exchanges with the Eastern half of our world.

Goldilocks and Seeds of Wisdom #2

Good morning Dinar Recaps,

We have a correction of a date in our earlier post and one additional post:

On June 1st, 2023, we saw the FEDNOW money transfers begin.

On July 1st, 2023, FEDNOW will roll out the full version of their International Payment System.

JPMorgan will be providing their coin in utilizing this service on the METALS Blockchain.

Their coin called "onyx" owned by JP Morgan will be utilized to make money transfers Internationally.

Just this week, we saw JP Morgan integrate their coin with the UPI System in India.

This interfaces quantum computers of the United States to the BRICS Nations allowing cross-border international trades and currency exchanges with the Eastern half of our world.

Coindesk LINK

Blockdata LINK

Metal Blockchain LINK

JPMorgan 1 LINK

JPMorgan 2 LINK .

Wikipedia LINK

~~~~~~~~~~

It looks like we are about to see a restructuring of the automobile industry.

This reset in the car industry is due to having too many cars and not enough buyers.

Car dealers are having a real problem with having overbought their inventory.

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Dinar Recaps 20 6/9/23 Dinar Recaps 20 6/9/23

Goldilocks " News on Fednow, Libor, SOFR and more" Friday 6-9-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ: Good morning Dinar Recaps,

Goldilocks posted news links and comments:

On June 1st, 2023, we saw the FEDNOW money transfers begin.

On July 1st, 2023 (this date has been corrected by Goldilocks - Dinar Recaps), the FEDNOW will roll out the full version of their International Payment System.

JPMorgan will be providing their coin in utilizing this service on the METALS Blockchain.

Their coin called "onyx" owned by JP Morgan will be utilized to make money transfers Internationally.

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ: Good morning Dinar Recaps,

Goldilocks posted news links and comments:

On June 1st, 2023, we saw the FEDNOW money transfers begin.

On July 1st, 2023 (this date has been corrected by Goldilocks - Dinar Recaps), the FEDNOW will roll out the full version of their International Payment System.

JPMorgan will be providing their coin in utilizing this service on the METALS Blockchain.

Their coin called "onyx" owned by JP Morgan will be utilized to make money transfers Internationally.

Just this week, we saw JP Morgan integrate their coin with the UPI System in India.

This interfaces quantum computers of the United States to the BRICS Nations allowing cross-border international trades and currency exchanges with the Eastern half of our world.

© Goldilocks

https://www.coindesk.com/video/federal-reserves-new-instant-payments-system-fednow-to-launch-in-july/

https://www.blockdata.tech/products/metal-blockchain

https://metalblockchain.org/

https://www.jpmorgan.com/onyx/coin-system.htm#:~:text=Our%20inaugural%20product%20solution%2C%20JPM,and%20payments%20in%20right%20time.

https://www.jpmorgan.com/onyx/about.htm#:~:text=Onyx%20is%20a%20J.P.%20Morgan,innovative%20products%2C%20platforms%20and%20marketplaces.

https://en.m.wikipedia.org/wiki/Unified_Payments_Interface#:~:text=Unified%20Payments%20Interface%20(UPI)%20is,funds%20between%20two%20bank%20Accounts.

~~~~~~~~~~

The World Bank is getting involved with retail investors in helping them to transition from Libor to SOFR bonds.

Bond exchanges are being offered to retail investors with the option to exchange bonds referencing LIBOR for the new SOFR index-linked bonds.

This has never been done before, and it is an attempt to help ease adjustments into the new monetary system at the end of the month.

~~~~~~~~~~

"Agencies Propose Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations"

This is a formal announcement that the real estate market is being reset and/or revalued.

Currently, opinions are being gathered from the public to be included in a new standardized approach of the real estate market.

© Goldilocks

https://www.consumerfinance.gov/about-us/newsroom/agencies-propose-interagency-guidance-on-reconsiderations-value-residential-real-estate-valuations/

~~~~~~~~~~

The largest US bank is willing to support Iraqi banks in dollars in financing foreign trade

https://search4dinar.wordpress.com/2023/06/09/the-largest-us-bank-is-willing-to-support-iraqi-banks-in-dollars-in-financing-foreign-trade/

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

DINARRECAPS8 6/9/23 DINARRECAPS8 6/9/23

Friday Morning Iraq Economic News Highlights 6-9-23

Parliament Votes On Two Articles That Include The Exchange Rate At 130 Thousand Dinars

2023.06.09 -Baghdad - Nas Parliament voted, Thursday, on two articles that include the exchange rate at 130,000 dinars. The House of Representatives also voted, earlier, on the first paragraph of the budget law. On Thursday, the House of Representatives proceeded to vote on the draft federal budget law for the Republic of Iraq for the fiscal years (2023, 2024, 2025).

And the media department of the House of Representatives announced the start of the voting session on the budget, in the presence of 258 deputies.

Friday Morning Iraq Economic News Highlights 6-9-23

Parliament Votes On Two Articles That Include The Exchange Rate At 130 Thousand Dinars

And the media department of the House of Representatives announced the start of the voting session on the budget, in the presence of 258 deputies.

The Parliament's media department stated in a statement, which "NAS" received a copy of, (June 8, 2023), that "the Speaker of the Parliament, Muhammad al-Halbousi, opened the work of the parliament session in the fifth electoral cycle, for the second legislative year, in the first legislative term."

The department added, "The session was held in the presence of 258 deputies."

According to deputies inside the corridors of Parliament, that the Finance Committee agreed to pass 15 of the budget articles at today's session, with the rest postponed to a session to be held tomorrow.

In turn, Representative Uday Awad confirmed, in a statement to the official agency, followed by "NAS", (June 8, 2023), that "today's session will witness the passing of 15 articles of the budget law, and the rest of the articles will be completed on Friday." https://www.nasnews.com/view.php?cat=108784

The House Of Representatives Votes On The First Paragraph Of The Budget Law

2023.06.08 - Baghdad - Nas On Thursday, the House of Representatives voted on the first paragraph of the budget law.

On Thursday, the House of Representatives proceeded to vote on the draft federal budget law for the Republic of Iraq for the fiscal years (2023, 2024, 2025).

And the media department of the House of Representatives announced the start of the voting session on the budget, in the presence of 258 deputies.

The department added, "The session was held in the presence of 258 deputies."

Postponing The Session To Complete The Vote On The Budget Materials For Several Hours

2023.06.09 - Baghdad - Nas On Friday, the head of the Kurdistan Democratic Bloc, Vian Sabri, announced the postponement of the session to complete the vote on the budget materials until six in the evening.

According to a statement issued by the Media Department of the House of Representatives, the session was supposed to start at one o'clock on Friday afternoon, but field sources indicated that all the representatives had not yet arrived at the parliament building. https://www.nasnews.com/view.php?cat=108804

The Chairman Of The Parliamentary Finance Committee Announces The Settlement Of Differences And The Agreement To Hold A Session To Pass The Budget

Today, Thursday, the head of the Parliamentary Finance Committee, Atwan Al-Atwani, announced the settlement of differences and the agreement to hold a session to pass the budget.

Al-Atwani said , in a statement to the Iraqi News Agency (INA) , that the differences regarding the budget were settled, and it was agreed to hold a voting session. The budget law and the rest of the articles will be completed on Friday. https://www.ina.iq/187048--.htm

Parliament Votes To Adopt The Value Of A Barrel Of Oil At $70 And The Exchange Rate Of The Dollar At 1,300 Dinars

2023-06-08 Shafaq News/ The Iraqi Parliament approved, late Thursday night, the exchange rate of the Iraqi dinar, at a value of 1,300 dinars against one dollar, with a financial revenue of $70 per barrel of oil.

According to the budget materials that the House of Representatives voted on, tonight, and which Shafaq News Agency viewed, that the federal budget for the year 2023 amounts to 134 trillion and 552 billion and 919 million and 63 thousand dinars.

And by calculating speculative revenues from exporting crude oil at a price of $70 per barrel, at an export rate of three million and 500 thousand barrels per day, including 400 thousand barrels per day of Kurdistan Region oil, based on an exchange rate for the dollar equivalent to 1,300 dinars per dollar. LINK

A New Postponement Of The Budget Settlement Session

Money and business Economy News – Baghdad Parliament member Nour Nafeh said that the budget vote session has been postponed to 11 pm today, Thursday, according to the Rudaw network.

In the context, Jamal Cougar, a member of Parliamentary Finance, stated that the committee "has not yet received the final draft of the budget until it holds a meeting to discuss the final touches."

The House of Representatives was scheduled to hold, at 8 pm today, Thursday, its session to vote on the draft budget law. Views 587 06/08/2023 - https://economy-news.net/content.php?id=34646

A Budget Usurped By And From It, Will It End The Controversy Of Emptiness And Fill The Pockets Of Citizens, Or Will People Return With Nostalgia?

Policy 09/06/2023, the number of readings: 99 Baghdad-Iraq today: The political editor of Iraq Today wrote:

With his success in voting on some articles of the budget in an (evening) session, it seems that it has become a custom in the parliament, which takes the night as a camel, a veil and a cover, so it passes the governments, and votes on controversial laws, and here he is repeating it with the forthcoming budget law, this The budget, which is described as the largest and largest in the history of the country,

and the most incapacitated as well, as its deficit amounts to nearly a Third, in light of the insane increase in operating expenses in which government recruitment campaigns were put, especially after 2019, a pulse that does not want to return to the conditions it was. Before this date, with the opening of everyone's appetite, for the public job, which has become an easy source of income,

We are not able to evaluate the effectiveness of the government employment program, which has been taken in a clear clientelistic form by the political forces in control, where employment takes place in return for obtaining popular support in successful electoral events, and the ability of successive governments to Confront a huge flood that eats the state's financial resources, which are already derived from it. From oil revenues, foreign companies that contracted in the so-called licensing rounds contribute by taking a balanced share.

We say that the budget that seems to have no father, although everyone claims from a hidden side, some connection to it, but he attacks it, because it did not meet his ambition, which is mostly subjective, partisan, factional, and does not put general considerations in the list of national priorities, we say this budget will be in the event that the House of Representatives today completes the approval of the remainder of its articles. It is the critical test for the government of Prime Minister Muhammad Shia'a al-Sudani, as it will reveal its ability to employ it in order to build economic growth and development, or it may reveal - God forbid - a Governmental deficit, it It seems that due to the bureaucratic legacy and corruption is present and strong in the scene, but the will of the Sudanese can curb it,

We, facing a pivotal position, may end up approving a budget, from which everyone wants what they want, and they attack it as well, and this is the case of democratic parliamentary systems, but what matters to us is that the political anger does not spread to the street and strategize it. LINK

A Deputy For Karbala Blames The Government And The Leaders Of The Blocs For Delaying The Budget And Reveals A Transfer Of Funds Without Taking Into Account The Poor Governorates

FRI, 09-06-2023, TAYSEER AL-ASADI The representative of Karbala governorate revealed the reasons for the delay in voting on the budget, explaining that voting for the budget in three years means wasting more money without supervision and spending most of its money on electoral propaganda and miserable projects.

Zuhair Shaheed Abdullah said in a statement obtained by Noon News Agency today that the delay in the budget was due to the government, the leaders of the blocs, and the political consensus, and not because of the parliament.

Abdullah revealed the transfer of 6 trillion dinars, at the rate of 3 trillion to the governorates, that is, for each governorate 200 billion without taking into account the poorest governorates.

The MP, who belongs to Ishraqa Canon, criticized the three-year budget legislation, saying that talking about financial stability through three-year budget legislation is not true at all. Stability comes by converting it into a program budget, not an item budget. He explained that voting for the three-year budget means wasting more money without supervision and spending most of its money for electoral campaigns miserable projects.

And the Iraqi parliament voted on a budget for the years 2023, 2024 and 2025, in part, to end the differences that had recently deepened between the political forces, while adjourning its session to one in the afternoon, Friday. https://non14.net/public/157620

The Finance Committee Requests A 24-Hour Deadline: Kurdistan's Dispute Was Confined Between The "Two Parties" Over The 10% Clause

Posted On2023-06-08 By Sotaliraq 2023-06-08 Today, Thursday, members of the Parliamentary Finance Committee asked the Parliamentary Legal Committee to give them only 24 hours to read the budget law in preparation for its approval, while they revealed the nature of the internal Kurdish dispute regarding the committee’s “amendments” and the party’s “veto” democrats for a specific procedure.

Sources who were present at the meeting of the Parliamentary Finance Committee, which ended a short time ago, said that “a number of committee members actually asked the Legal Committee to give a period of 24 hours only in order to read the budget law, provided that this be with the approval of the Presidency of Parliament.”

The sources added, "There is preliminary approval from the Presidency and the Parliamentary Legal Committee, but so far it has not been official regarding this request."

For her part, the deputy in the Legal Committee, Iman Abdel-Razzaq, confirmed the existence of this proposed deadline from members of the Finance Committee to their counterparts in the Legal Committee and the informal approval so far from the Presidency of Parliament.

In turn, a member of the Parliamentary Finance Committee, Mueen Al-Kazemi, said, "The Kurdistan Regional Government and the federal government have reached an important agreement regarding Articles 13 and 14 of the General Budget Law, which pertain to the mechanism for exporting oil from the region through the (SOMO) company and depositing the sums in an account in the Central Bank," noting that “The prime minister of the region has the authority to disburse the amount from this account.”

Al-Kazemi added, "In the event that it is not possible to export oil from the port of Ceyhan, the quantities of 400 thousand barrels of oil per day will be settled to the federal government for local consumption, and the federal government will have to pay the region's dues 12.67% of the budget."

A member of the Finance Committee continued, "The remaining differences are between the Democratic Party and the Patriotic Union of Kurdistan regarding the priority of disbursing the salaries of employees and retirees in the Kurdistan Region, and in the event that the distribution is not fair, the Patriotic Union will deal directly with the federal government by disbursing the dues of Sulaymaniyah without referring to the regional government." Pointing out that "the Democratic Party is not satisfied with this issue and considers it interference in the internal region."

And Al-Kazemi indicated, “Therefore, dialogues are currently taking place to reach a consensus between the Democratic Party and the National Union in this regard, in order to reach a final result.”

The Kurdistan Democratic Party objected to the amendments added by the Parliamentary Finance Committee to the budget law, which, according to the party’s vision, reflected the agreement between the governments of Baghdad and the region, while attempts were made to resolve this “crisis”, whether at the level of parliamentary meetings or even at the level of political parties and blocs to bring the views of the two parties closer. In order to pass the budget without “objections or problems” or facing last-hour surprises. LINK

The House Of Representatives Adjourned The Session On The Budget To One In The Afternoon, Friday

Posted On2023-06-09 By Sotaliraq Today, Baghdad, through its correspondents in the House of Representatives and its sources, transmits the latest developments in the voting session on the tripartite budget, which was held on Thursday.

Baghdad Today publishes the final version of the Iraq Tripartite Budget Law (documents)

The coordination framework informs the Kurdistan Democratic Party that the House of Representatives will start voting on the budget law at 10 o'clock and there will be no new delay, and the voting process will take place even in light of the boycott of the Kurdistan Democratic Party, and for this it must resolve its matter and agree finally on the points of contention

Parliament Speaker Muhammad al-Halbousi and his two deputies, Mohsen al-Mandalawi and Shakhwan Abdullah, arrive at the Parliament building.

The meeting of the Kurdish forces is still going on at the parliament building, and there is no agreement regarding the controversial paragraphs related to the Kurdistan region within the budget law so far.

The Parliamentary Finance Committee holds a meeting in the presence of the Speaker of Parliament, his two deputies and heads of parliamentary blocs to resolve differences over the budget law

Kurdish parties end all their meetings inside the House of Representatives prior to the session

- Fares Issa, head of the region's representative, arrives at the KDP bloc

Pressures exerted by the Kurdistan Democratic Party in order to postpone the voting session on the budget law until next Saturday until a final agreement is reached on the region’s paragraphs within the budget law, with the insistence of some of the coordination framework to hold the session today, with the possibility of postponing to Saturday

The meeting of the Presidency of Parliament with the Finance Committee and the heads of parliamentary blocs ended a while ago... without reaching final agreements

So far, we have not postponed the voting session on the budget law to any other day.

The parliament bell rings to invite the deputies to enter the hall to begin the voting session on the budget law

Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, announces the settlement of differences and the agreement to hold a session to pass the budget

Member of the Parliamentary Finance Committee, Uday Awad: Today's session will witness the vote on 15 articles of the budget law, and the rest of the articles will be completed tomorrow, Friday.

Start distributing the final version of the budget law among members of the House of Representatives

The House of Representatives begins voting on the tripartite budget bill

Vote to add a new item to the agenda related to the replacement of some deputies

The House of Representatives votes on the first article related to revenues, approving a barrel of oil at 70 dollars, and the exchange rate is 1,300 dinars in the budget.

The House of Representatives votes on the third article, postpones the second, and deletes the fourth

The House of Representatives votes on Article Five of the Budget Law

The House of Representatives votes on Articles 6, 7 and 8 of the Budget Law

The House of Representatives adjourns the session on the budget to one in the afternoon, Friday LINK

Parliament Adjourns After Voting On Articles Of The Draft Budget

Policy 2023-06-08 | Source: Alsumaria News 9,843 views The House of Representatives decided to adjourn its session to Friday afternoon.

Reporter saidSumerianIn Parliament, the Presidency of the Council decided to adjourn the session to one in the afternoon, Friday.

On Thursday evening, the House of Representatives held a session dedicated to approving the budget bill for three years. LINK