"Tidbits From TNT" Wednesday Morning 7-12-2023

TNT:

Tishwash:  Oil: The agreement with Iran will ensure the smooth flow of gas and end the stumbling block due to US sanctions

Today, Tuesday, the Ministry of Oil confirmed that the agreement with Iran will ensure the smooth flow of the supplied gas and end the previous stumbling block due to US sanctions, noting that its implementation will take place according to an agreed mechanism according to the pricing of global markets, pointing out at the same time that Minister Hayan Abdul Ghani made contacts to accelerate Implementation of the prime minister's directives for the agreement.

"The agreement with Iran to barter Iranian gas for Iraqi black oil represents one of the most important solutions that the government and the Council of Ministers resorted to to pay dues for the supplied gas," said ministry spokesman Assem Jihad.

He added, "The agreement will ensure the smooth flow of the supplied gas and end the previous stumbling block due to the US sanctions imposed on Iran, according to which it was agreed on the supply and pricing mechanism approved in the oil markets, and the ministry expressed its willingness to implement the Prime Minister's directives to ensure the smooth continuation of gas flows."

He continued, "This step is very important, and the Deputy Prime Minister and Minister of Oil, Hayan Abdul-Ghani, held an immediate meeting and contacted the concerned agents and managers, and directed to expedite the implementation of the directives of the Prime Minister and the Council of Ministers that were issued today." link

CandyKisses:  Advisor to the Prime Minister: The government's vision aims to transform Iraq into an attractive country for investment

Advisor to the Prime Minister: The government's vision aims to transform Iraq into an attractive country for investment

Economy News _ Baghdad

The political adviser to Prime Minister Fadi al-Shammari said on Wednesday that the government's vision aims to transform Iraq into an attractive country for investment by improving the business environment and developing the country's infrastructure.

Al-Shammari explained that the government realizes that incoming investment plays a crucial role in promoting economic development, creating job opportunities, improving the quality of life of citizens, diversifying the base of the Iraqi economy and developing non-oil sectors, and on this basis, the goal of the government of Muhammad Shia Al-Sudani is to simplify bureaucratic procedures and enhance transparency in granting investment licenses through amendments to government decisions related to investment.

Al-Shammari indicated that the amendments made by the Council of Ministers to Resolution (245 of 2019) were essential and important to overcome the episodes of administrative red tape, create an advanced and advanced investment environment for the investor, and give more powers and flexibility to the National Investment Commission and investment commissions in the governorates to deal with investors and shorten the time for them.

He pointed out that the amendments came in line with the vision of Prime Minister Mohammed Shia Al-Sudani of the need to provide an integrated work environment that meets the needs of the investor and reduces the time in granting investment license, and Al-Shammari explained the most prominent amendments made by the Council of Ministers: -

First - Approving plans related to investment projects with the competent feudal authorities for all projects within (30 working days maximum).

Second: The governorates shall provide the National Investment Commission with the numbers of land plots, their districts, their areas, gender, dependency and uses within and outside the municipal boundaries.

Third: The Central Bank, government banks and other financial institutions granted Iraqi and foreign investors in partnership with Iraqis loans and financial facilities in the event that they complete (25%) of the project.

The National Investment Commission must complete all required approvals, including the allocation of land before announcing investment opportunities.

Fifth: Providing a single window, which serves as an integrated data bank that provides comprehensive details about the lands and investment licenses granted, making it easier for the investor to obtain detailed information from one place about the lands in all Iraqi provinces, thus reducing reviews and simplifying procedures for the investor.

Amendment of Resolution 245 granting the National Investment Commission the authority to amend investment licenses after they were previously vague and unclear.

The amendment empowered the National Investment Commission to set controls and instructions regarding the announcement of the lands on which investment opportunities will be built and to grant them flexibility in doing so.

The amendment to Resolution 245 provides for contracting with an international company to supervise investment projects and giving it the authority to approve or reject the project in the event of non-conformity with the approved specifications and standards to be met.

In this context, Al-Shammari pointed out that the government realizes that transforming Iraq into an attractive investment destination requires joint efforts by all concerned parties, including the private sector, the local community and foreign investors, and by achieving this vision, investment can have an important role in strengthening the Iraqi economy, achieving sustainable development in the country, providing job opportunities and diversifying sources of income.

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

CandyKisses:  Anbar Supports Sudanese's Steps. The Beginning Of The Dismantling Of Corruption Networks And Mafias

The leader of the United Anbar Alliance, Abdul Wahab Al-Bilawi, announced on Wednesday that all the people of Anbar support and support the steps taken by Prime Minister Mohammed Shia Al-Sudani, while noting that they are the beginning of dismantling networks and mafias of corruption.

"All the changes made by Prime Minister Mohammed al-Sudani in Anbar province over the past few days have a significant impact on Anbar society as the beginning of the dismantling of corruption networks, corruption mafias and the economic offices of corrupt parties in Anbar province," al-Bilawi told Earth News.

"There is support for the Sudanese and we are waiting for more from him, because corruption has spread in most joints in Anbar province, and today what has been dismantled and reforms are carried out does not exceed 20%, and we are waiting for the dismantling of the rest of the offices, the sale of land and the domination of people's necks," he said.

"The security changes in Anbar province are a good sign, given that the security authorities were politicized and affiliated with a political party and ordered by them, and Anbar was outside the control of the state, but today the Anbari citizen has hope for the return of the province in the bosom of the homeland, the state and the security forces," he said.

"The reconstruction fund is the largest economic office for corrupt parties, which has been done and we demand an investigation into what was seized in the retirement departments and other departments," he said.

It is noteworthy that the commander-in-chief of the armed forces, Prime Minister Mohammed al-Sudani, has made changes in the past few days to a number of security leaders in Anbar province.

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

Tishwash:  ‘That’s the relationship we want to build’: Erbil becomes Nashville’s 10th sister city

NASHVILLE, Tenn. (WKRN) — After receiving unanimous approval from the Metro City Council Thursday night, Erbil has now become the first city in the Middle East to be named one of Nashville’s sister cities.

The official approval of a resolution establishing Erbil, the capital of the Kurdistan Region of Iraq, as Nashville’s 10th sister city comes after more than two decades of efforts to foster a sister city partnership.

According to the Tennessee Kurdish Community Council (TKCC), the first wave of Kurds arrived in Nashville in the 1970s after the collapse of a Kurdish uprising in Iraq, and today Nashville has the largest Kurdish population outside of Kurdistan in the world.

“Current day numbers are between 25,000 and 28,000 Kurdish people living in our city that are our brothers and sisters,” said District 4 Councilmember Robert Swope, who was among numerous council members that sponsored the resolution.

Swope said former Mayor Bill Purcell recognized the connection between the two communities in 2000 and spent the next 23 years getting the resolution to council members’ desks. Since then, leaders from both cities have traveled over 6,000 miles to visit each other.

A delegation from Kurdistan came to Nashville in May 2022, and just six weeks ago, Mayor John Cooper traveled to Erbil with representatives from Sister Cities of Nashville, council members, Purcell, and other officials to further explore the partnership and city.

“When I landed in Erbil, I was shocked and for the next week we were, let’s just say treated like royalty or dignitaries by everyone from Prime Minister Barzani on down,” Swope said. “Kurdistan isn’t the dessert. It’s more like Colorado or Idaho. It’s actually gorgeous.”

Some evidence points to Erbil being the oldest continuously inhabited city in the world, with occupation dating back to at least 3000 BC, said Swope, who added that the city’s beauty explains why “the Kurdish people have fought for 5,000 years to protect it.”

“The Kurdish community is full of very resilient people. People that went through wars and fled. A lot of them are refugees, and they’ve made Nashville home, and they’ve contributed so much to what Nashville is,” said At-Large Councilmember Zulfat Suara, who also sponsored the resolution.

The sister city program was created by President Dwight Eisenhower in 1956, with the vision of building bonds between people from different communities and cultures across the world, according to Sister Cities International.

Nashville has been forging similar connections with other communities for many years. Edmonton, Canada became Nashville’s first official sister city in 1990, and before this year, the last city to partner with Nashville was Chengdu, China in 2020.

Many of Nashville’s sister cities engage in events and exchange programs that give residents from both cities an opportunity to participate in different cultural and educational activities thousands of miles away.

Representatives from the Erbil government are expected to join Nashvillians for an official signing ceremony designating the two communities as sister cities in August. As an immigrant herself, Suara said she is proud to see the acceptance of the Kurdish community in Nashville.

“It goes a long way,” she said. “We live in a very divisive world where people see the other people as ‘other’, and so for a city like Nashville to be able to say the Kurds in this city are our sisters and we’re working together; I think that’s the world that we all want to live in. That’s the relationship we want to build where we see each other as people regardless of our background.”   link

CandyKisses:  HAVING FUN YEARS AGO

Mot... Being a Parent is Like~~~~

Iraqi News Highlights Tuesday Afternoon 7-11-23

Iraqi News Highlights Tuesday Afternoon 7-11-23

Tlm724 Administrator Bondlady’s Corner

Oil Rises On The Back Of “OPEC +” Cuts, And Traders Focus On Economic Data

Economy | 09:16 - 11/07/2023  Baghdad - Mawazine News  Oil prices rose today, Tuesday, compensating for some of the losses of the previous session, with dealers focusing on Saudi Arabia and Russia reducing production and anticipating economic data that may help confirm the demand for crude.  Brent crude futures rose 33 cents, or 0.4%, to $78 a barrel by 0050 GMT, and US West Texas Intermediate crude rose 35 cents, or 0.5%, to $73.34.

And prices fell 1% yesterday, Monday, amid expectations of an increase in the possibility of raising US interest rates, and with investors reaping profits, according to "Reuters".

While US central bank officials said the bank would likely need to raise interest rates further to bring down inflation, markets were relieved by indications that officials also believe the current tightening cycle is coming to an end.

Supply cuts from the world's two largest oil exporters, Saudi Arabia and Russia, scheduled for August helped lift record prices, which were also supported by the dollar's drop to a two-month low.

A weaker dollar makes crude oil cheaper for holders of other currencies and often increases demand for oil.

Saudi Arabia said last week that it would extend its cut of at least one million barrels per day until August, while Russia said it would cut its oil exports next month by 500,000 barrels per day.

Dealers are also looking forward to US crude stock data, to be released by the American Petroleum Institute later on Tuesday, and analysts expect stocks to increase by 200,000 barrels.

Investors are also awaiting the release of US consumer price index data, a key report on inflation, this week, as well as economic reports from China to gauge demand expectations.

https://www.mawazin.net/Details.aspx?jimare=231082

Al-Sudani Receives The Regional Director Of The International Finance Corporation / IFC And Emphasizes Cooperation To Support Youth And Renewable Energy Projects

Money  and business  Economy News – Baghdad  On Tuesday, Prime Minister Mohamed Shia Al-Sudani received the Regional Director of the International Finance Corporation / IFC, Aftab Ahmed.

The media office of the council stated in a statement received by "Al-Iqtisad News" that "the meeting witnessed discussions on aspects of closer financial cooperation between Iraq and the institution, and ways to develop partnerships, in a way that enhances the ability of the Iraqi economy to face regional and international challenges and global crises."

Al-Sudani indicated during the meeting that "Iraq's adoption of a reform path in all financial and banking aspects, aiming to open up to broader horizons for joint action at the international level, in a way that develops the local investment environment."

And he stressed that "the International Finance Corporation is a partner in the field of development and encouragement of the Iraqi private sector," indicating "the government's aspiration to expedite the completion of the development plan for Baghdad International Airport as soon as possible,

 because it represents a civilized facade for the country," stressing "the government's desire to cooperate With the institution to establish a (Riyada) bank, which aims to support small projects, and what job opportunities it will provide for young people.

For his part, Mr. Aftab Ahmed expressed the readiness of the Finance Corporation for cooperation and partnership with Iraq, referring to the projects that will be implemented in Iraq during the next three years. He also confirmed the continuation of work on the Baghdad airport development project, and its completion in record time, in addition to the readiness to support the establishment of the (Riyada) bank.

 Supporting renewable energy projects in Iraq, and other projects to develop the capabilities of Iraqi youth in the field of information technology and artificial intelligence.

Views 45  Added 07/11/2023   https://economy-news.net/content.php?id=35106

The British Ambassador Confirms The Desire Of His Country's Companies To Work In Iraq

Political  11/07/2023  Baghdad - Mawazine News  The British Ambassador to Iraq, Mark Bryson Richardson, confirmed that his country's companies want to work in Iraq and carry out a number of vital projects.

And the Presidency of the Republic stated in a statement, which Mawazine News received a copy of, that "The President of the Republic, Abd al-Latif Jamal Rashid, received today, at the Baghdad Palace, the United Kingdom's ambassador to Iraq, Mark Bryson Richardson, on the occasion of the end of his work in Baghdad," explaining that "the President of the Republic carried the ambassador Greetings to the King of the United Kingdom, King Charles III.

The President of the Republic wished the ambassador success in his upcoming diplomatic missions, expressing his appreciation for Richardson's efforts to improve relations between the two countries throughout his tenure in Iraq.

He stressed "the importance of strengthening bilateral relations and developing constructive cooperation between the two countries, and the need for coordination on issues of common interest in a way that achieves the interests of the two friendly peoples," noting "the importance of encouraging British companies to work and invest in Iraq, especially with the clear security stability the country has witnessed over recent years." ".

The President of the Republic touched on "the importance of cooperation between Iraqi and British universities and benefiting from the experiences of British universities in water, climate and energy issues."

In turn, the British ambassador stressed "the strength of bilateral relations," reiterating his country's "continued support for Iraq in various fields, especially in the field of war against terrorism and limiting climate change."

And the British ambassador stated that "British companies want to work in Iraq and carry out a number of vital projects," expressing his thanks to "the President of the Republic for his support for his diplomatic efforts in consolidating relations between the two countries and facilitating the performance of his work duties in Iraq."    https://www.mawazin.net/Details.aspx?jimare=231101

Planning: The Population Of Iraq For The Current Year Reached 43 Million And 324 Thousand People

Local | 11/07/2023  Baghdad - Mawazine News  The Ministry of Planning confirmed today, Tuesday, that the population of Iraq for the current year amounted to 43 million and 324 thousand people.

In a statement issued on the occasion of World Population Day, the ministry said that it is "working to conduct a general population census in the next year 2024, with the aim of serving development by building a comprehensive and complete database on the reality of the population in all fields, which will serve development plans," indicating that " The government has paid great attention to creating the appropriate conditions for conducting the census after providing financial allocations.

She stated that "the Higher Commission for Census, headed by Deputy Prime Minister - Minister of Planning, Muhammad Ali Tamim, is preparing to hold an important meeting in the coming days to approve the detailed plan for conducting the census," noting that "the ministry continues its preparations to hold an official celebration on the occasion of World Population Day on July 26."

 The current one, in cooperation and partnership with the United Nations Population Fund and the Iraqi Association for Statistical Sciences, will be devoted to population and climate change.

She stated that "the celebration of World Population Day for this year will coincide with the launch of the national document for population policy in Iraq, which was announced by the Prime Minister, Muhammad Shia' al-Sudani, on May 17, and includes eleven axes that covered all aspects of human life, and these axes are:

Education and learning - health and reproductive health - childhood, rights and protection - youth and employment - empowerment of women - support for vulnerable population groups (children - the disabled - the elderly) - population and climate changes - internal and external migration - housing - values ​​and social cohesion - finally the axis of advocacy and population education .

And it indicated that "the population of Iraq for this year 2023 is estimated at 43 million and 324 thousand people," noting that "the annual population growth rate is 2.5 percent."

And she continued, "The percentage of males is 50.5 percent and females are 49.5 percent of the total population," explaining that "the percentage of the population in the age group under 15 years is about 40 percent of the total population, while the percentage of the population aged 15-64 years is 75 percent, and young people constitute Within the age group (15-24) years, 28 percent of the total population.

He pointed out that "about 50 percent of the population is concentrated in the governorates (Baghdad - Nineveh - Basra - Dhi Qar), and the urban population (urban) constitutes 70 percent, compared to 30 percent of the rural population," pointing to "a significant improvement in the health of infants and without children."

Five years after the decline in mortality rates within this category to less than 20 deaths per (100,000) live births, which reflected positively on the improvement in life expectancy and its rise to 74 years.

She stated that "a decline was recorded in the fertility rate from 3.66 in 2018, to 3.3 births for women aged (15-49) years in 2022," expecting that "the population of Iraq will enter the fourth stage of the demographic shifts, leading to its entry into the stage of (the demographic gift) that will decrease In which fertility rates reach the level of replacement, and the percentage of age groups of dependent age decreases, compared to an increase in the percentage of age groups of working age.

https://www.mawazin.net/Details.aspx?jimare=231112

$212.5 Million In Central Bank Sales

Economy News – Baghdad  Today, Tuesday, the sales of the Central Bank of Iraq in the foreign currency sale window amounted to more than 212.5 million dollars.

The Central Bank’s website published a schedule of its dollar sales, and “Al-Iqtisad News” reviewed it, as it included the participation of 32 banks and 15 exchange companies, and covered external transfer requests of $180.6 million, while cash requests amounted to $31.8 million.

And the Central Bank of Iraq sells the dollar for documentary credits and international settlements of electronic cards at a price of 1305 dinars per dollar.

41 views  Added 07/11/2023 - https://economy-news.net/content.php?id=35102

NATO Is Looking To Expand Its Mission In Iraq

Tuesday 11, July 2023 19:40 | political Number of readings: 129  Baghdad / NINA / - NATO confirmed that it is considering expanding its mission in Iraq at the request of the Iraqi government, to include providing advice to the Ministry of Interior on the federal police, stressing that the mission of his mission is being implemented "with the full approval of the Iraqi authorities."

The statement stated to the NATO summit held in Lithuania on July 11 and 12, that "at the request of the Iraqi government, we are studying expanding NATO's mission in Iraq, by developing it to include providing advice to the Iraqi Ministry of Interior on the federal police."

NATO affirmed its commitment and allies to support Iraq to "achieve stability in the country," praising the "continued efforts and progress made by the Iraqi government and security forces to combat ISIS."

He urged the alliance to "make more progress in Iraq's war against terrorism in all its forms and manifestations."

He stressed that his mission in Iraq will continue to "provide non-combat advice and support capacity building for Iraqi security institutions" in Baghdad, noting that it "has strengthened cooperation with the Iraqi Ministry of Defense."

NATO made it clear that the continuation of its mission in Iraq is subject to a request from the Iraqi authorities and "will be implemented with their full approval" and in close coordination with relevant partners and international actors, stressing its full respect for "Iraq's sovereignty and territorial integrity." / End    https://ninanews.com/Website/News/Details?key=1064431

A List Of Dollar Exchange Rates In Iraq Markets

Economy  July 11, 2023 Baghdad / National News Center  The National News Center publishes a list of dollar exchange rates in Baghdad, the north and the south in the local market for today, Tuesday.

In Baghdad:  the buying price of a dollar is 148,750 per 100 dollars,   the selling price of a dollar is 146,750 per 100 dollars

in the north:   the buying price of a dollar is 149,250 per 100 dollars,  the selling price of a dollar is 149,250 per 100 dollars

in the south:   the buying price of a dollar is 148,750 per 100 dollars,  the selling price of a dollar is 146,750 per 100 dollar    https://nnciraq.com/215660/

To Read More Current And Reliable Iraqi News Please Visit Bondlady’s Corner:

Https://Www.Bondladyscorner.Com/

Will the Iraqi Parliament Approve the Long-Awaited Oil and Gas Law?

TNT:

Tishwash:  Will the Iraqi parliament approve the long-awaited oil and gas law?

The Iraqi parliament is preparing to discuss the oil and gas law as part of a group of laws that will be discussed after the legislative recess ends and the parliament reconvenes.

The law, which has been waiting for more than a decade, is expected to be discussed, but it is not certain whether or not the law will be passed in that session.

Observers believe, despite the importance of the oil and gas law at that stage that Iraq is going through, that political differences and blocs within parliament may delay it, unless consensus is reached before the voting process, as the law is of great importance to Baghdad and Erbil, given that oil represents the main revenue component. in the Iraqi budget.

First, Abdul Malik al-Husseini, an Iraqi political analyst, says that the draft oil and gas law, which is of great economic importance, is one of the most important laws that would raise the production capacity of oil and gas derivatives , and contribute significantly to promoting foreign investments in this field.

Urgent need

He added in his speech to “ Sputnik ”: “In a country like Iraq, which ranks fifth in the world as the second largest oil reserve in the world, the legislation of such a law is an urgent necessity, as it regulates the method of extracting oil and minerals throughout Iraq, including the Kurdistan region, as well as Organizing oil revenues.

Al-Husseini pointed out that the differences that halted the enactment of this law for 18 years lie in the interpretation of the constitutional articles related to oil marketing and revenue management, as well as the oil contracts that each government adopts with foreign companies.

Stabilizer

The political analyst explained that the results of the negotiation process between the central government and the Kurdistan Regional Government , which takes place through the specialized negotiating committees, indicate the imminent end of its work, and then the oil and gas law was presented to parliament for reading and then voting.

Al-Husseini added that after the start of the second legislative term of the second legislative year last Sunday, the parliamentary committees began their legislative and oversight work, and the first session of the second legislative term will be held next Saturday.

Al-Husseini pointed out that President Al-Halbousi is conducting consultations with the various parties regarding the oil and gas law, and stressing the need to speed up its approval, which would enhance the stability of Iraq's economic policy, and end all differences between the central government and the region.

Missing compatibility

For his part, Kifah Mahmoud, a political researcher and expert on Kurdish and Iraqi affairs, says, "According to the government program and what was agreed upon between the Kurdistan Democratic Party, the coordination framework, and the Sovereignty Alliance in managing the state, the oil and gas law is legislated in a way that achieves and guarantees the rights and gains of the people of the Kurdistan region, and according to the constitution." This is in theory."

And he added in his speech to “Sputnik”, but on the practical ground, and after the framework abandoned its commitments in the oil agreement and in the budget law, and work to reduce the constitutional powers of the region and attempt to prejudice its entity, by using the majority of the component in Parliament away from the consensus on which the Sudanese government was formed. and its political programme.

Demographic change

Mahmoud pointed out that it has become difficult to achieve an oil and gas law that satisfies everyone. Indeed, what is happening in terms of demographic change in Sinjar, Khanaqin, Kirkuk, Mandali and the Nineveh Plain does not encourage the application of Article 140, but rather the exact opposite.

The Iraqi Prime Minister, Muhammad Shia' al-Sudani , said in the middle of last month that alternative energy will compete with oil and gas in the future.

Al-Sumariya News reported that Al-Sudani's remarks came in a speech he made during his attendance at a celebration marking the 63rd anniversary of the convening of the founding conference of OPEC, which was held in the capital, Baghdad.

Al-Sudani stressed that "oil still represents a basic source of energy in the world, and it has its importance in politics, economy, development, and the environment, and its importance to countries that depend on it, for production or consumption, and when OPEC was founded, the oil wealth was managed by monopolistic companies that lost countries' sovereignty and influence in Oil Market.

OPEC members

The Iraqi Prime Minister indicated that "OPEC members manage the plans, production and industry of their oil with full sovereignty and draw their oil policies," noting that "the entry of natural and associated gas into the energy investment market has added new responsibilities to member states and has become a vital resource for many industries, which requires Member States should bear in mind the multiplying challenges they face. 

Shiaa Al-Sudani stated that Iraq has relied for decades on oil as a basic resource for the economy and money, at a time when natural gas was neglected, which deprived his country of many development opportunities, stressing that Iraq signed important contracts to invest in both natural and associated gas.

It is noteworthy that the 5 countries that participated in the founding of "OPEC" are Iraq, Kuwait, Iran, Saudi Arabia and Venezuela, as the first meeting of the organization was held in Baghdad in 1960. ink

Goldilocks' Comments and Global Economic News for July 11, 2023

Goldilocks' Comments and Global Economic News for July 11, 2023

RJ:  Good morning Dinar Recaps,

The US dollar is in a mega cycle, and it could take some time for it to fall. But, we are clearly in the end game cycle of the US dollar.

We are witnessing countries attempt to bring the US dollar down through the reduction of oil produced for the global economy. And now, we are witnessing Hedge Funders get involved with shorting the dollar. Hedge Funding is a pool of resources designed to direct and redirect market patterns. In other words, institutional money is beginning to get involved with the markets.

Hedge funding will create new price actions on the market and form new patterns going forward leading us into a commodity-based economy. "The report cites data from the CFTC as revealing that leveraged investors switched to a net short position on the US currency of 20,091 contracts in the week ending 7 July, having been long by a net 5,196 contracts in the previous week.

Bloomberg’s gauge of the dollar has dropped 1.6% this year on signs the Fed is nearing the end of its tightening cycle and as the rest of the world has caught up in raising rates to combat inflation." This puts us in an optimal position to RESET our Global Economy.

We are witnessing the BRICS Nations form an alliance. They are in the process of creating monetary policies to solidify this union and create a collective trading currency backed by gold.

At the same time, we have collective countries beginning to trade in their own National Currencies to increase the strength of their own currency values. Along with this move, we are witnessing them back there National Currencies with commodity resources.

Other countries' economies have been weakening for some time due to a strong dollar, and this does not bode well for US trading partners as well. It turns into a cycle whereby no World Reserve Currency in and of itself has that much power to sustain a global downturn.

There have been attempts to provide liquidity for smaller countries to keep their governments from falling into chaos. Inflation and increasing debt in the US economy just don't allow for sustained global growth to happen any longer.

We are all in this together, and the collective effort on the Global Economy is necessary to find new paths ahead of us. This is why you are seeing efforts to position ourselves in the Oil Market, the Silver Market, and the Gold Market.

The Commodity Market has been held down for a very long time. And many government officials around the world are calling for a weaker dollar and a stronger Commodity Market.

A weaker dollar supports growth in the stock market. This is why you saw a global shift on July 1st 2023. The movement from an interest-bearing liquidity mechanism known as Libor gave way to SOFR collateralized liquidity backed by gold.

Over time, this Global shift allows us to move from fighting inflation to protecting growth. We can expect a release of caps on the Commodity Market at any moment, and eventually, a resetting of prices inside the Commodity Markets that will allow for sustained growth.

A weaker dollar allows for a leveling off of currencies to occur raising the value of some and minimizing values and others.

This gives our global economy an opportunity to revalue everything inside a QFS financial model that will lead us forward into a new digital age of financing backed by gold.

New Standardized procedures are currently in development and monetary policies are being formed around the world to create and activate new banking protocols (20) that will lead us into the future.

All roads lead to Gold, and Gold will set us free.

© Goldilocks

http://www.hedgeweek.com/2023/07/10/321248/hedge-funds-go-net-short-us-dollar-first-time-march

https://www.bloomberg.com/news/articles/2023-07-10/hedge-funds-abandon-bullish-dollar-bets-on-peak-fed-speculation#xj4y7vzkg

https://en.m.wikipedia.org/wiki/Hedge_fund

~~~~~~~~~~

"The Federal Reserve Bank of New York’s New York Innovation Center (NYIC), in collaboration with members of the U.S. financial services sector, published the findings of a proof of concept (https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115) (PoC) that explored the feasibility of an interoperable network for wholesale payments operating on a shared multi-entity distributed ledger."

In other words, regulated digital asset settlements have been researched and deemed capable of moving forward.

We can now begin looking for that final congressional vote on stablecoins representing a country's currencies.

© Goldilocks

https://www.tradersmagazine.com/am/ny-fed-completes-poc-for-regulated-digital-asset-settlement/

~~~~~~~~~~

Our Global Markets are currently and collectively utilizing their resources to purposefully reset our Global Markets.

© Goldilocks

~~~~~~~~~~

Based on the decision of the Board of Directors of this bank No. (112) for the year 2023 taken in its session No. (1637) held on 4/7/2023, it was decided to approve the resumption of the activity of the Mercury and Passport companies to mediate the sale and purchase of foreign currencies.

https://cbi.iq/news/view/2372

~~~~~~~~~~

Today, Monday, His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired a meeting with bank departments located in the Kurdistan region of Iraq.
During the meeting, they discussed the affairs of the banking sector in the region and upgrading its work to keep pace with developments, enhance financial inclusion and spread the culture of electronic transactions.

https://cbi.iq/news/view/2373

~~~~~~~~~~

"The Federal Reserve Bank of New York’s New York Innovation Center (NYIC), in collaboration with members of the U.S. financial services sector, published the findings of a proof of concept (PoC) that explored the feasibility of an interoperable network for wholesale payments operating on a shared multi-entity distributed ledger."

In other words, regulated digital asset settlements have been researched and deemed capable of moving forward.

We can now begin looking for that final congressional vote on stablecoins representing a country's currencies.

© Goldilocks

https://www.tradersmagazine.com/am/ny-fed-completes-poc-for-regulated-digital-asset-settlement/

~~~~~~~~~~

What Is FedNow? The Government’s First Instant Payment Service Launches Soon | Nasdaq
https://money.com/what-is-fednow/?xid=nasdaq&utm_source=nasdaq&utm_medium=rss_synd

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

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" Tuesday 7-11-2023

TNT:

CandyKisses:  Economic clarifies mechanisms to support the Iraqi dinar and reduce demand for the dollar

Information/Baghdad...

Economist Safwan Qusai explained on Tuesday the mechanisms to support the Iraqi dinar and reduce the demand for the dollar in the parallel market.

Qusai told Al-Maalouma that "the government can support the Iraqi dinar through industry and agriculture, in addition to the possibility of selling oil to certain countries in Iraqi dinars with the knowledge of the US Treasury."

He added that "the orientation of this mechanism would allow Iraqi traders to import from these countries in dinars, and this opens the way for the import of foodstuffs, soft drinks, cigarettes, medicines and other goods, especially for countries that are allowed to sell." oil in dinars, such as Jordan and Egypt, and in return traders go to import goods from them in dinars."

And he indicated that "the aforementioned measures would reduce pressure on the demand for the dollar in the parallel market, as confidence must return to the dinar, in addition to that the Ministry of Finance and the Central Bank have to work jointly."

Qusai pointed out that "some public spending measures are not commensurate with the central bank's policy, and vice versa

CandyKisses:  US companies suffer fastest bankruptcy in 10 years

Information/ follow-up.

The number of US corporate bankruptcies in the six months ending June rose at the fastest pace since the first half of 2010, amid interest rates at historic highs.

According to data from S&P Global Market Intelligence, the number of bankruptcies recorded in the first half of this year is higher compared to the same period in 2020 when the Covid-19 pandemic wreaked havoc on the economy.

According to Market Insider, data provider Epic, total corporate failures during the first half of the year rose 68% year-on-year to around 3,<>.

Among the key names that have faced bankruptcies over the past six months are Silicon Valley Bank, Bed Bath & Beyond and Lord Stone Motors.

Greg Morin, Vice President of Business Development and Revenue at Epic Pankrapsy, said: "This trend points to the economic experiences that businesses are currently facing that are affected by rising interest rates, inflation and increased borrowing costs. 

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

CandyKisses:  A government delegation from the Kurdistan Region visits Baghdad to implement the provisions of the budget law

A government delegation from the Kurdistan Region visits Baghdad to implement the provisions of the budget law

Economy News _ Baghdad

In the next few days, a delegation from the Kurdistan Regional Government (KRG) is scheduled to visit the capital Baghdad to proceed with the implementation of the provisions of Iraq's fiscal budget law.

Omid Sabah, chief of cabinet of the region, said that the relationship between the regional government and the federal government is at a good level.

Regarding the existence of constitutional observations related to the budget law, Sabah said in an interview with the "Kurdistan 24" satellite channel, which is close to the Kurdistan Regional Government, that the Prime Minister of the region, Masrour Barzani, and the Federal Prime Minister formed two high-level teams, each separately, to implement the articles of the budget law.

According to the Kurdish government official, the KRG delegation is scheduled to visit Baghdad at the end of this week or the beginning of next week to start scientifically implementing the provisions and articles of the federal budget law

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

Tishwash:  The Prime Minister receives the Regional Director of the International Finance Corporation / IFC

The Prime Minister, Mr. Mohamed Shia Al-Sudani, received, this morning, Tuesday, the Regional Director of the International Finance Corporation / IFC, Mr. Aftab Ahmed.  

The meeting witnessed discussions on aspects of closer financial cooperation between Iraq and the Corporation, and ways to develop partnerships, in a way that enhances the ability of the Iraqi economy to face regional and international challenges and global crises.  

During the meeting, the Prime Minister indicated that Iraq has pursued a reform path in all financial and banking aspects, aiming to open up to broader horizons for joint action at the international level, in a way that develops the local investment environment.  

His Excellency stressed that the International Finance Corporation is a partner in the field of development and encouragement of the Iraqi private sector, indicating the government's aspiration to expedite the completion of the Baghdad International Airport development plan as soon as possible, because it represents a civilized front for the country, and His Excellency also affirmed the government's desire to cooperate with the Corporation to establish a bank (Riyada), which aims to support small projects, and the job opportunities they will provide for young people.  

For his part, Mr. Aftab Ahmed expressed the readiness of the Finance Corporation for cooperation and partnership with Iraq, referring to the projects that will be implemented in Iraq during the next three years. He also confirmed the continuation of work on the Baghdad airport development project, and its completion in record time, in addition to the readiness to support the establishment of the (Riyada) bank. Supporting renewable energy projects in Iraq, and other projects to develop the capabilities of Iraqi youth in the field of information technology and artificial intelligence.   link

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

Tishwash:  Indonesia is holding a tanker flying the flag of Iran

 The Indonesian Coast Guard said, on Tuesday, that it had detained an Iranian-flagged tanker on suspicion of illegally transporting oil, according to Reuters.

He added in a statement that the ship "Arman 114" was carrying 272,569 tons of light crude oil, and it is suspected that it was transferring oil to another ship without a permit.

This is not the first time that Indonesia has detained an Iranian oil tanker, as Indonesia announced, on January 25, 2021, that the Coast Guard had detained the tanker "MT Horse", which flies the Iranian flag, on suspicion of illegally transporting oil in Indonesian waters, according to the agency. Reuters.

Indonesia's detention of the Iranian ship continued for about 4 months, until it was released in May 2021.

Iran said at the time that the tanker "MT Horse" was detained due to a "technical issue", and demanded that Indonesia explain the detention of the tanker.

"The Ministry of Foreign Affairs is coordinating with the Coast Guard and has obtained information that the oil tanker...is suspected of violating the law," said Indonesian Foreign Ministry spokesman Teuku Faiz Siya at the time.

The International Maritime Organization requires ships to use location detection devices for safety and transparency. Ship crews can switch off these devices in case of hacking or similar risks. However, ships often turn off the devices to hide their location in case of illegal activities.

Iran is accused of concealing the destination of its oil sales by disabling tracking systems in its tankers, which makes it difficult to estimate the volume of Iranian exports as part of Tehran's efforts to overcome US sanctions.  link

Mot:  .. its HOT out here mowing da Lawn.. soooooo

Mot:  .... sure Glad it Aint Snowing!!!

Tuesday Morning Iraq Economic News Highlights 7-11-23

Tuesday Morning Iraq Economic News Highlights 7-11-23

The President Of The Republic Directs The Formation Of A Committee To Follow Up The Implementation Of The Decisions Of The Supreme Committee For The Implementation Of Article 140

Policy  2023-07-11 | Alsumaria News – Politics  The President of the Republic, Abd al-Latif Jamal Rashid, directed today, Tuesday, during his meeting with a member of the Supreme Committee for the Implementation of Article (140) of the Constitution, Babiker Siddig Ahmed, to form a committee to follow up the implementation of the decisions of the Supreme Committee for the implementation of Article by the relevant ministries.

The media office of the President of the Republic stated, in a statement received by Alsumaria News, that the latter "received, at the Baghdad Palace, a member of the Supreme Committee for the Implementation of Article (140) of the Constitution, Babiker Siddig Ahmed, as the President of the Republic stressed during the meeting, the need to work seriously to implement Article (140) and in accordance with It guarantees the delivery of rights to its people, and addresses the unjust decisions taken by the former regime with the aim of demographic change.

The President of the Republic referred to "the importance of communication and joint work with the relevant ministries, such as justice, agriculture and defense, to follow up on the implementation of Article (140)," directing "the formation of a committee in the Presidency of the Republic to follow up on the implementation of the decisions of the Supreme Committee for the implementation of Article (140) by the relevant ministries."

The statement added, "The President of the Republic listened briefly from Babiker Siddig Ahmed about the progress of the work of the Committee for the Implementation of Article (140) of the Constitution, what has been accomplished and the obstacles facing the completion of its work, in addition to a number of proposals to support the work of the Committee in the performance of its tasks."

The committee member expressed his "thanks and appreciation to the president for his interest and keenness to support and follow up the work of the Supreme Committee to implement Article (140) of the constitution."  LINK

The President Of The Republic Directs The Formation Of A Committee To Follow Up The Implementation Of The Decisions Of The Supreme Committee For The Implementation Of Article 140

Tuesday 11 July 2023 14:23 | politics Number of readings: 101   [rtl]Baghdad / NINA / - The President of the Republic, Abdul Latif Jamal Rashid, today, Tuesday, during his meeting with a member of the Supreme Committee for the implementation of Article (140) of the Constitution, Babiker Siddig Ahmed, directed the formation of a committee to follow up on the implementation of the decisions of the Supreme Committee for the implementation of Article by the relevant ministries.

The media office of the President of the Republic stated in the statement of the President, during the meeting, stressing the need to work seriously to implement Article (140) in a way that guarantees the delivery of the right to its people, and to address the unjust decisions taken by the previous regime with the aim of demographic change.

Concerned, such as justice, agriculture and defense, to follow up on the implementation of Article (140)”, directing “the formation of a committee in the Presidency of the Republic to follow up on the implementation of the decisions of the Supreme Committee for the implementation of Article (140) by the relevant ministries.”

The statement added that the President of the Republic listened briefly from Babiker Siddig Ahmed about the progress of the work of the Committee for the Implementation of Article (140) of the Constitution, what has been accomplished and the obstacles facing the completion of its work, In addition to a number of proposals to support the work of the Committee in the performance of its tasks

https://ninanews-com.translate.goog/Website/News/Details?Key=1064362&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Al-Sudani: Iraq Has Followed A Path Of Reform In All Financial And Banking Aspects

Policy 2023-07-11 | Al-Sudani: Iraq has followed a path of reform in all financial and banking aspects   LINK

Al-Sudani Reminds The Conservatives That The "Triple Budget Opportunity" Is Irreplaceable

Baghdad today – Baghdad  The Prime Minister, Muhammad Shia'a al-Sudani, considered the financial budget for the governorates "an irreplaceable opportunity for the conservatives to invest in."

Today, Monday, Al-Sudani chaired the seventh session of the Higher Commission for Coordination between the governorates not associated with a region, during which developments in public events in the governorates were discussed, and a number of basic files were discussed, most notably those related to providing services to citizens, and addressing the obstacles they face, in addition to deliberating on prepared topics. on the agenda and issue decisions regarding it, according to a statement by the Prime Minister's Office.

Al-Sudani stressed during the session that: "The government submitted the first semi-annual report on the implementation of the government program and it was approved by the Council of Ministers, and it includes observations and recommendations that will be addressed to implement the required goals."

He referred to "the budget of the provinces within the tripartite budget, which is an irreplaceable opportunity for the governors to invest their funds and allocations in the right direction," stressing that "the citizen has waited a long time in order to enjoy basic services, and they do not represent an achievement or an honor compared to the allocations that were allocated for the past years."

The Prime Minister directed "the need to invest the allocations optimally," stressing that "the plans and vision of the governors will be reviewed on how to invest the allocations in coordination with the Ministry of Planning, stressing the need for the investment plans of the allocations to be in accordance with the priorities of the government program, especially with regard to the service aspect that pertains to completing Infrastructure".

Al-Sudani said, "We do not want any district, district, or locality to lack basic services, which is a benefit for our people who have endured suffering over the past years," stressing "not implementing programs that are not related to the citizen's needs and address their problems."

And he indicated, "The financial allocations came at an important circumstance, to correct the course of action of the government and ministries in a way that serves the citizens, and that all governorates comply with the work methodology over a twenty-four-hour period, in order to complete duties and projects."

The Prime Minister referred to "the challenge of the upcoming elections that will face the governors, as the provinces will witness political competition between various addresses, and it will represent a test for the governor in how to deal with everyone as an executive official," stressing the best dealing with allocations and investing them in a way that serves the province and its people according to a scientific vision, and not according to The electoral governor's program directs allocations to this district or that area according to the loyalties or the electoral audience.

Al-Sudani explained that the way the governors deal with the allocations and the mechanism for their investment and use of the powers will be monitored, and the government will follow up on each governor’s plan and the way he spends the allocations, and he pointed to what he described as “those lurking in the budget in order to benefit from it for personal, partisan or utilitarian purposes, and the need to confront them and spend money in their rightful place, and block the way for weak-minded employees or non-employees, who will try in various ways to enter and invest in these projects.”

The session witnessed the hosting of the Minister of Water Resources and the Minister of Environment to discuss the issue of drinking water scarcity in some governorates, and to discuss projects that were suspended due to environmental determinants.

During the session, a number of decisions were taken. In the field of drug control, the following were decided:

1- All governorates provide the Ministry of Health with an integrated plan to establish treatment centers for drug addicts and psychotropic substances, and prepare lands for them, taking into account the population density (one or more centers).

2- The Ministry of Health and the Pharmacists Syndicate, in cooperation with the Organized Crime Control Directorate, tighten control over the dispensing of psychotropic drugs in pharmacies according to original prescriptions issued by doctors’ clinics, and monitor their non-medical use.

3- The Iraqi Media Network, in cooperation with the Ministry of Health and the Ministry of Interior, implements a media plan to educate citizens about the dangers of drug abuse and the penalties imposed on those who possess, buy, sell or possess narcotic substances, psychotropic substances or chemical precursors, based on the Narcotic Drugs and Psychotropic Substances Law No. (50) of 2017.

In the direction of supporting media policies in the governorates, the following decision was taken:

Approval of the recommendations of the committee formed under Administrative Order No. (28) of 2023 regarding support for media policies in the governorates, and the Iraqi Media Network is responsible for implementing them.

With regard to the residential plots of land for the martyrs and political prisoners, the following was decided:

Referring the tasks of the committee under Administrative Order No. (736) for the year 2023, which is responsible for developing solutions to the obstacles facing the allocation of lands for the families of martyrs and political prisoners, to the committee formed according to Diwaniya Order No. (22431) for the year 2022.   LINK

Soon...A Delegation From The Region Will Visit Baghdad With An "Important Law"

Baghdad today – Erbil   Today, Monday, an official source in the Kurdistan Regional Government revealed that a delegation from the region visited the capital, Baghdad, to discuss the oil and gas law with the federal government.

The source told "Baghdad Today", that: "A delegation from the Kurdistan government will visit Baghdad next week to discuss with the federal government on the oil and gas law."

He added that "a joint committee has been formed from both sides, including a group of experts, and they have gone a long way in discussing what is related to the aforementioned law."

According to the source, the Iraqi parliament has so far completed 70 percent of the work of the oil and gas law.

Yesterday, Sunday, the second legislative term of Parliament began, and the Presidency of the House of Representatives instructed all parliamentary committees to carry out their work and legislative and oversight tasks, to study draft laws submitted to them and to ripen their paragraphs for submission to the Presidency of the Council, in order to include them on the agenda of the upcoming sessions, pointing out that the first session of the legislative term The second, will be held next Saturday.

Official circles are waiting for the start of a new phase of the journey to resolve the fate of the draft oil and gas law, as one of the most controversial laws after 2003. The renewed oil dispute between Baghdad and Erbil in each government was a cause of political estrangement at times and turned into part of the settlement files built on Its basis is a fragile relationship between the federal government and the Kurdistan region.

The oil and gas law is a pending file, so as soon as an interim agreement saw the light - as happened before the formation of the government - the draft law was left in the drawers of Parliament.

On February 15, 2022, the Federal Supreme Court ruled that the private oil and gas law in the regional government was unconstitutional. The decision also stipulated that the oil contracts concluded by the Kurdistan government with oil companies, parties, and foreign countries are invalid.

The oil and gas law in Iraq, which has been awaiting legislation in Parliament since 2005, stipulates that the management of all oil fields in the country must be under the responsibility of a national oil company under the supervision of a specialized federal council.   LINK

Frame: America Did Not Interact With Three Government Messages To End The Electricity Crisis

Posted On2023-07-10 By Sotaliraq  The leader in the coordination framework, Jabbar Odeh, confirmed, on Monday, that America did not interact with three government messages to end the electricity crisis.

Odeh said in an interview, "The electricity crisis worsened 72 hours ago, at alarming levels, with the cut-off reaching 18 hours per day, amid an atmosphere close to half the boiling point.

He added, "America did not interact with three government messages about facilitating the arrival of Iraqi funds to pay off gas import debts to the Iranian side, but rather did not take any step towards ending the crisis by facilitating the task of sending money because of its sanctions."

He pointed out that “America realizes that the Sudanese strategy in managing many vital files has become a threat to its influence, so it seeks, by complicating financial payments to pay the debts of imported Iranian gas, to create a direct crisis in the country,” stressing that “the coordination framework supports Sudan’s options in Ending the current electricity crisis.

The Iraqi provinces are experiencing a major energy crisis after supplies have been reduced to 18 hours per day, amid rising temperatures.   LINK

Iran Settles The Controversy Over The Fact Of Cutting Off Gas Exports To Iraq

Economy  |Baghdad today - follow-up  The director of the distribution network at the National Iranian Gas Company, Mohammad Reza Goulaei, denied cutting off gas exports to Iraq.

"There is a malfunction in the gas network in the west of the country, which has caused a decrease in exports to Iraq by 5-10 million cubic meters per day in the past few days," Goulaei told Fars News Agency and its affiliate, "Baghdad Today."

He pointed out that "gas exports to Iraq continue and will continue, but due to the intense heat in the southern and southwestern regions of the country, the efficiency of equipment in the production and transportation sectors was disrupted, which negatively affected the transfer of gas to the gas network in the west of the country."

The Iranian official added, "The average daily gas exports to Iraq were 30 million cubic meters last month, and this figure reached 21 million cubic meters during this month."

It is noteworthy that Iraq is currently witnessing a crisis with an acute shortage of electricity supply hours, coinciding with a significant rise in temperatures and exhausting weather, with expectations of a greater rise in temperature at the end of the week and the coming days.

A political bloc warned of an "imminent popular explosion" due to the electricity shortage crisis.  LINK

MilitiaMan and Crew: Iraq - CBI Governor - France Total - 27 Billion - Al-Sudani

Iraq - CBI Governor - France Total - 27 Billion - Al-Sudani

MilitiaMan and Crew:  7-11-2023

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

The convergence we are witnessing for Iraq to get to a market economy is amazing and underway to completion! The central Bank of Iraq has awakened!!

Be sure to listen to full video for all the latest news…

https://www.youtube.com/watch?v=s9zOHVVJTBY

Iraqi News Highlights Late Monday Evening 7-10-23

Iraqi News Highlights Late Monday Evening 7-10-23

Tlm724 Administrator Bondlady’s Corner

Ftaa Kurdistan Prohibits Cash Transfer Via Bank Cards Outside The Country

Kurdistan    breaking    Kurdistan fatwa    cash transfers  2023-07-09 Shafaq News/ On Sunday, the Supreme Council for Fatwa in the Kurdistan Region issued a clarification about bank cards and cash transfers with the aim of profiting.

In a statement received by Shafaq News agency, the council said, "Making bank cards in the name of citizens, transferring money on them, withdrawing them outside the country, and bringing them back into the local markets is a prohibited and illegal process."

The council attributed the reason for its fatwa, according to the statement, to the prohibition of deceiving banking procedures, the law, and government instructions, stressing that

"Muslims must abide by the instructions and conditions set for the transfer of the Iraqi dinar with the US dollar."

In the fatwa, the council inferred a hadith of the Prophet of Islam, Muhammad:  “Muslims are bound by their conditions, except for a condition that forbids what is lawful, or makes lawful what is forbidden.” 

And after the Central Bank’s decision to fix the exchange rate of the Iraqi dinar against the US dollar, and not to decrease it in the local markets, many Iraqis resorted to buying bank cards and  transferring amounts of Iraqi dinars on them and transferring them to another account outside the country (the UAE and Turkey often) so that

a second person could buy the dollar from abroad. At the official rate of the Central Bank and re-transferring it to the first account,   with the aim of profiting from the discrepancy between the official rate and the price in the local markets.

https://shafaq.com/ar/كوردســتانيات/فتا-كوردستان-يحر-م-الحوالة-النقدية-عبر-البطاقات-البنكية-خارج-البلاد

Al-Saadi: Importers' Dependence On The Dollar Is Behind Its Failure To Devalue It In The Parallel Market

Information / Baghdad..The researcher in economic affairs, Muhammad Al-Saadi, explained, on Friday, that the total dependence of importing traders on the dollar in the parallel market is behind its continued rise in the parallel market. 

Al-Saadi told Al-Maalouma that "many merchants, especially importers, depend on the dollar on the black market, and did not go to the electronic platform in order to obtain the dollar at the official rate."  

He added, "The lack of locally produced commodities pushes the trader to go abroad in order to import, and therefore he has the option of going to obtain the dollar from the official platform, and

he may go to erase the parallel market in order to obtain the currency as quickly as possible."   And he indicated that

"the volume of demand for buying the dollar, especially by speculators and traders, made some exchange shop owners monopolize the currency and store it in order to raise its value in the parallel market and obtain great benefits,  despite the government's measures to control prices." 

https://almaalomah.me/news/economy/الساعدي:-اعتماد-المستوردين-على-الدولار-وراء-عدم-تخفيضه-في-ال

Al-Mashat: The Central Bank's Initiatives Have Stimulated The Labor Market

July 9, 2023 Last updated: July 9, 2023 The Independent/- The Chairman of the Board of Directors of the Arab Islamic Bank of Mashreq, Sadiq Al-Mashat, stressed the role of the Central Bank of Iraq's initiatives in stimulating the local labor market, which provided the required credit through the banking system for many projects.

Al-Mashat said that financing represents the important axis in raising economic performance within the labor market, and that the Central Iraqi instructions came in support of projects, pointing to the importance of the instructions for lending major projects, which have a positive impact on the national economy,

taking into account the preparation periods for this type of projects, which last for more than 6 months, which needs a serious pause. 

He pointed out that Iraq needs a large volume of work with local and international participation, which requires a banking system that provides quality services.

https://mustaqila.com/المشاط-مبادرات-المركزي-حفزت-سوق-العمل/

The Governor Of The Central Bank Of Iraq Presides Over A Meeting With Bank Administrations In Erbil

July 10, 2023      Today, Monday, His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired a meeting with bank departments located in the Kurdistan region of Iraq.

During the meeting, they discussed the 

affairs of the banking sector in the region and

upgrading its work to keep pace with developments,

enhance financial inclusion and

spread the culture of electronic transactions.

What was presented by the Association of Iraqi Private Banks about the procedures related to the projects put forward by the Central Bank of Iraq during the past weeks, represented by the establishment of the Al-Riyadah Bank for Small Projects and the Loan Guarantee Company and the establishment of the Finance and Business Center, was also reviewed, praising the positive steps and progress made in them.

 His Excellency had, on the sidelines of his visit to the region, visited the branch of the Central Bank in Erbil, and held a meeting with the General Manager of the branch, Mr. Kazem Namik Ahmed, and department officials, listening to the mechanism of the branch's work and the challenges facing its work.

His Excellency urged the branch's employees to work diligently, and to provide the best banking services to the residents of the geographical area that the branch supervises,

directing the need to strengthen the supervisory and oversight position of the Central Bank over banks operating within its jurisdiction.    Central Bank of Iraq    information Office    10 - July – 2023 

https://cbi.iq/news/view/2373   https://cbi.iq/news/view/2374  repost  

Iraq Is At The Bottom Of The "Big Ten" List Of Arab Gas Producers

economy |Yesterday, Baghdad today - follow-up Iraq came in the tenth place in the list of the most Arab countries producing natural gas during 2022, as 

Iraq’s production increased during the past year to 9.4 billion cubic meters, compared to 9.1 billion cubic meters in 2021.

And the list of the most Arab countries producing natural gas during 2022 shows that Qatar and Saudi Arabia came to the fore, followed by Algeria in third place, Egypt fourth, and the UAE fifth, while the Sultanate of Oman came in sixth place, Bahrain seventh, Libya eighth, and Kuwait ninth, with Iraq at the bottom of the list..

Although it is among the most Arab countries producing natural gas,

Iraq is one of the importers of natural gas, as production is not sufficient for domestic consumption,

which has negative effects on the country's electricity sector, which depends on that fossil fuel.

In June 2023, Iraq launched the sixth round of licensing for oil and gas exploration in 11 promising gas exploration blocks.

According to preliminary estimates of the Ministry of Oil, Iraq has reserves estimated at 132 trillion cubic feet of gas, as

about 70% of Iraqi gas is gas associated with oil extraction for treatment, and Iraq ranks 11th among the world's countries rich in natural gas.

raq relies on Iranian gas to operate electric power plants, while the Ministry of Electricity estimated that the period of Iraq's need for Iranian gas ranges between 5-10 years.

https://baghdadtoday-news.translate.goog/225783-العراق-في-ذيل-قائمة-العشرة-الكبار-بانتاج-الغاز-عربيًا.html

Tomorrow... Oil Will Sign Contracts For The Integrated Gas Development And Growth Project With Total

Economy| 06:50 - 09/07/2023 Baghdad - Mawazine News The Ministry of Oil confirmed today, Sunday, that it will sign contracts for the integrated gas development and growth project with the international company Total, tomorrow, Monday.

"The contracts for the integrated gas development and growth project will be signed with the global company Total" tomorrow, Monday, under the auspices and presence of Deputy Prime Minister - Minister of Oil Hayan Abdul-Ghani, spokesman for the Ministry of Oil, Assem Jihad, said in a statement.  He added,

"The set of contracts concluded by the Ministry with Total includes the first project contract for transporting sea water to the productive oil fields, while the other project is the gas investment project associated with oil operations from the number of oil fields in Basra Governorate, at a rate of six hundred million standard cubic feet per day divided into two phases.

The third contract is represented by the development of the Artawi oil field and the increase in production, while the fourth contract project is a project to generate electric power from solar energy at a rate of (1 gigawatt). 

 Jihad pointed to  "the importance of these contracts in developing the oil industry in Iraq, as they represent an important addition to support the national economy."  https://www.mawazin.net/Details.aspx?Jimare=230982

Trade Minister: Iraq's Reserves Of Wheat Have Reached 5 Million Tons

 Economy     8-07-2023, 21:13 Baghdad - Conscious - Falih Al-Obaidi Today, Saturday, Minister of Commerce Atheer Al-Ghurairy confirmed that the ministry has a strategic stockpile of wheat that has reached 5 million tons, which is enough for more than a year.

Al-Ghurairy told the Iraqi News Agency (INA) during his visit to Salah al-Din Governorate:

"The ministry left the critical period in which it possessed strategic storage sufficient for only one month," pointing out,

"The current storage is sufficient for more than a full year, estimated at 5 million tons, and is still The marketing of wheat continues until now, and we also have enough storage for 4 months of foodstuffs.” 

He added, "There is also no rise in food prices in the markets, because the ministry has dealt with that and follows up the prices accurately," noting,

"The ministry has procedures that the citizen will touch with regard to the ration card, opening marketing outlets, and distributing goods and foodstuffs regularly and studied dates."

There will be larger and more modern shopping centers across the country.” 

He pointed out, "The prices of flour now in the market do not exceed 12 thousand dinars per bag, and "zero" flour 28 thousand dinars.   https://www.ina.iq/188998--5-.html

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

https://www.bondladyscorner.com/

Iraqi News Highlights Monday Afternoon 7-10-23

Iraqi News Highlights Monday Afternoon 7-10-23

Tlm724 Administrator Bondlady’s Corner

In Detail.. Al-Sudani's Advisor Reveals The Reason For Not Implementing The Budget Law: It May Require A "State Order"

Policy     breaking    Public budget    Federal Supreme Court    Iraqi Council of Ministers

2023-07-08 23:09  Shafaq News/ Today, Sunday, the financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the reason why the budget law has not been implemented until now, despite it being published in the Official Gazette (Al-Waqee'). 

Salih told Shafaq News agency, "The federal general budget for the three years 2023-2025 begins to come into effect practically since the aforementioned law was published in the Official Gazette of the Republic of Iraq, but there are two factors affecting the start of implementation immediately,

The first: that the Ministries of Finance and Planning issue implementation instructions The general budget law for the current fiscal year, which will extend until the year 2025 on the one hand, and

on the other hand, it turns to an issue through which the government may wait for a solution to the problematic of the paragraphs that were appealed to the Federal Court and which relate to the articles added by the House of Representatives to the previously approved draft budget law From the Council of Ministers and submitted to Parliament for legislation. 

He added,  "The added legal issues and materials that are related to the issue of separation of powers or adding articles that constitute a spending burden on the general budget and fall outside the powers specified by the constitution for the House of Representatives when preparing the legislation of the budget law, noting that  the power of the House of Representatives to amend except for legislation are (reducing expenditures and transferring between chapters and chapters). 

And that  "the government is currently awaiting the implementation of the budget law,

it may obtain (a state order) from the Federal Court to suspend the articles or legal texts contested in the budget law in order to be frozen or suspended without implementation and proceed with implementation in the rest of the paragraphs until the issuance of the final decision of the Federal Court."

And for this reason, I see that these factors are the essential constraints pending the implementation of the General Budget Law so far, especially after the law was issued in the Official Gazette.

On Monday (June 26), the official Iraqi Gazette published by the Ministry of Justice published the text of the general budget law for the years (2023, 2024, and 2025).

And the Iraqi parliament voted, on June 12, on the federal budget law for the years 2023, 2024, and 2025, after discussions that lasted for five days.

The value of the current year budget is 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit of 63 trillion dinars (48.3 billion dollars), while the items of the 2023 and 2024 budgets have not been published. 

https://shafaq.com/ar/سیاسة/بالتفاصيل-مستشار-السوداني-يكشف-عن-سبب-عدم-تنفيذ-قانون-الموازنة-قد-تتطلب-امرا-ولا-يا

The Stability Of The Exchange Rates Of The Dollar Against The Dinar In The Local Markets

Monday 10, July 2023  Economical Number of readings: 330   Baghdad / NINA / The exchange rates of the dollar against the dinar witnessed stability in the stock market and local markets today, Monday.

Al-Harithiya and Al-Kifah Stock Exchanges recorded, on Monday morning, an exchange rate of 147,750 Iraqi dinars for 100 dollars.

The selling price of the dollar in exchange offices and local markets reached 148,750 dinars per hundred dollars, and the purchase price was 146,750 dinars per 100 dollars, which are the same prices as yesterday, Sunday./ End   https://ninanews.com/Website/News/Details?key=1064104

The Canadian Ambassador Is Discussing In Kirkuk The Economic And Service Conditions In The Province

Monday 10, July 2023 | Economical Number of readings: 310  Kirkuk / NINA /- The Canadian Ambassador to Iraq, Gregory Galligan, met the representative of the Governor of Kirkuk, the technical assistant, Eng. Ali Hammadi, in the governorate building.

During the meeting, they discussed the economic and service conditions in the province.

The technical assistant confirmed that the province of Kirkuk is witnessing a great development in the field of reconstruction and construction and the provision of services to all its citizens, in addition to working on the reconstruction of the liberated areas and the return of the displaced to them.

He pointed out: "Kirkuk represents a wide space for investment and development due to the achievements, stability and coexistence witnessed."

For his part, the ambassador indicated that his first visit to Kirkuk will contribute to encouraging the ambassadors of countries to visit it and see its reality and importance. He valued the importance of the international airport and the progress witnessed by the province.  The ambassador had arrived in Kirkuk this morning through its international airport. https://ninanews.com/Website/News/Details?key=1064125

Oil Prices Fell After US Statements About An Economic Recession

Economy | 10:22 - 10/07/2023  Baghdad - Mawazine News  Oil prices fell in trading today, Monday, amid fears of a decline in demand for crude, after US statements that warned of an economic recession in the United States.

By 10:12 Baghdad time, US West Texas Intermediate crude futures fell by 0.76% to $73.30 a barrel.

While Brent crude futures fell by 0.71% to $77.91 a barrel, according to Bloomberg agency data.

Earlier, US Treasury Secretary Janet Yellen did not rule out an economic recession in the United States, and said, "The risk of a recession in the United States is not far from the table."

https://www.mawazin.net/Details.aspx?jimare=231008

On The Anniversary Of The Liberation Of Mosul.. Washington Confirms Its Commitment To Help Iraq

political |  10/07/2023  Baghdad - Mawazine News,  the US Ambassador to Iraq, Ilia Romansky, affirmed her country's commitment to helping Iraq.

"On the occasion of the anniversary of the liberation of Mosul, we affirm our commitment to work through the International Coalition against ISIS and other partners to help Iraq and ensure the permanent defeat of ISIS, and support stabilization efforts to encourage the return of the displaced to their local communities," Romansky said in a tweet, followed by Mawazine News.

https://www.mawazin.net/Details.aspx?jimare=231029

Total To Al-Sudani: We Will Start Working On The Sites Within Days

Political  | - 10/07/2023   Baghdad - Mawazine News,  Prime Minister Mohamed Shiaa Al-Sudani received, on Monday, the CEO of the French Total Energies Group, Patrick Pouyanne.

Al-Sudani's office stated in a statement, which Mawazine News received a copy of, that "during the meeting, they discussed aspects of cooperation within the recently concluded contract between Iraq and Total, as he blessed the start of implementation steps on the ground."

Al-Sudani stressed, "The government has come a long way with commitments and reaching this stage," noting that "the contract with the company and the fifth licensing round fall within the strategic vision for gas investment, which Iraq was late to start investing in."

He renewed the government's approach towards concluding serious partnerships with major companies in terms of investing in natural resources, and benefiting from associated gas in particular.

For his part, Pouyanne said, "His company is heading towards broad cooperation with Iraq, its confidence in partnership in the fields of energy, and investing in promising and ambitious sectors in this field," stressing that "the company's technical teams will start their work in their locations within days."     https://www.mawazin.net/Details.aspx?jimare=231030

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

Bond Ladys Corner

KTFA Members "News and Views" Monday 7-10-2023

KTFA:

Clare:  Parliamentarian: We are following the issue of accelerating the implementation of the budget instructions

7/09/2023

The deputy of the State of Law Coalition, Jawad Al-Ghazali, confirmed that Parliament will follow up on the issue of accelerating the implementation of the budget instructions.

 Al-Ghazali told Al-Furat News that: "Everyone is waiting for the implementation of the budget instructions to start providing services to the citizens because they suffer from a severe shortage, especially in the housing and educational fields." 

Al-Ghazali pointed out, "It has now left the House of Representatives and entered the Government. On our part, as deputies and the legislative authority, we are following the matter of speeding up the implementation of its instructions.

And the Parliamentary Finance Committee announced that, with the start of the legislative term, it will form sub-committees to monitor the provisions of the implementation of the budget law, and activate the oversight role on certain ministries without other ministries, according to the committee’s plan.

Today, Sunday, the Presidency of the House of Representatives set a date for the start of the second legislative term for the second legislative year, and the first session of the second legislative term will be held next Saturday, corresponding to 7/15/2023.

From: Raghad Dahham    LINK

Turk182:  IMHO - Ladies & Gentlemen, please begin to put your Trays & Seat backs in their upright positions, as we prepare the cabin for descent into our destination.

Billuke:  Bringing this plane in for a landing!!!.... Old timers will know what I'm referring to......imo

Don:  I think we are flying in IFR weather and the approach is being missed each time. We need to go to alternate airport till the weather clears.

DallasDude:  The closest alternate airport is Vietnam I believe..happy travels.

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

Clare:  Wholesale corruption" in the Rafidain Bank... the most prominent reasons for the overthrow of its administration (documents)

7/10/2023

An informed source revealed, on Monday, the reasons for withdrawing the hand of the Director General of the Governmental Rafidain Bank and a number of department managers and bank employees by the Ministry of Finance.

The source told Shafaq News agency, "The current management of Al-Rafidain Bank, which has been withdrawn, is accused of several cases, including causing waste of public money and mismanagement, and making administrative transfers on the basis of nepotism and nepotism away from the standard of competence and integrity, and the rise of unqualified people to assume administrative positions."   LINK

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

Clare:  An Iraqi official caught in the act of bribery in the south of the country

7/10/2023

The Federal Integrity Commission announced, on Monday, the arrest of a tax official in the act of "bribery" in Basra Governorate, in the south of the country.

And she said, in a brief statement received by Shafaq News Agency, that the Federal Integrity Commission team caught the Basra tax director in the act of bribery.

And it indicated that it would publish details and pictures at a later time, without giving further details.   LINK

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

Clare:  The Ministry of Oil sets the date for signing Total global contracts

7/09/2023

The Ministry of Oil announced the signing of contracts for the integrated gas development and growth project with Total International Company tomorrow, Monday, under the auspices and presence of Deputy Prime Minister - Minister of Oil, Hayan Abdul Ghani.

The ministry's spokesman, Assem Jihad, said, in a statement, which {Euphrates News} received a copy of, that: "The set of contracts concluded by the ministry with Total includes first the contract for the project of transporting sea water to the productive oil fields."

He added, "As for the other project, it is a project to invest the gas associated with oil operations from the number of oil fields in Basra Governorate, at a rate of six hundred million standard cubic feet per day, divided into two phases." 
Jihad continued, "The third contract project is represented by developing the Artawi oil field and increasing production from it, while the fourth contract project is a project to generate electric power from solar energy at a rate of (1 gigawatt)."

Jihad pointed to "the importance of these contracts in developing the oil industry in Iraq, as they represent an important addition to supporting the national economy."   LINK

Turk182:  at a Program Rate of 1310 +/-     I think NOT

Goldilocks' Comments and Global Economic News for July 10, 2023

Goldilocks' Comments and Global Economic News for July 10, 2023

RJ:  Good morning Dinar Recaps,

~~~~~  Goldilocks posted the following few articles late yesterday July 9, 2023.  I felt they were newsworthy to share.  RJ  ~~~~~

"The Colombian peso has emerged as the most revalued currency against the dollar in recent times, according to reports from renowned publications such as the Financial Times, Portfolio, and Money in Image.

Financial experts speculate on the reasons behind this unprecedented growth, which has seen the Colombian peso outperform its Mexican counterpart against the dollar."

BreakingLatestNews LINK 

"The peso is up 5.4% since the start of 2023, outperforming the Brazilian Real's 4.5% gain, yet below Mexico's peso advance of 7.8%, as sentiment over the direction of policy-making in Latin America's No."

Reuters LINK

~~~~~~~~~~

☝️ Can you imagine what these currencies are going to do when they are pegged to gold versus the dollar?

~~~~~  Goldilocks posted the following news and comments this morning July 10, 2023  ~~~~~

We first reported in this room that the New Development Bank said that the BRICS gold-backed currency would not be a part of the meeting in August. And now, we have another announcement:

HILARY JOFFE: "BRICS currency is not on the cards. Despite what politicians have said, it is not on the agenda for the summit in SA."

As we have mentioned before, the New Development Bank has asked countries joining the BRICS system to strengthen their National currencies through backing of their monetary system with gold or other commodities.

We have been witnessing major strides in countries becoming Basel 3 compliant in the East through Article 4 consultations being reported. And when they do challenge the dollar with their own single trading currency in the East backed by gold, it will be able to do what they want it to accomplish.

Basel 3 compliance will strengthen their currencies and add value to them, a single BRICS trading currency backed by gold at a later date will challenge the dollar.

© Goldilocks

https://www.businesslive.co.za/bd/opinion/columnists/2023-07-10-hilary-joffe-brics-currency-is-not-on-the-cards/

~~~~~~~~~~

"The Saudi Central Bank (SAMA) has issued the Implementing Regulations for the Law of Payments and Payment Services to support the objective of enhancing the soundness and efficiency of the payment systems infrastructure in Saudi Arabia."

The Saudi Arabian Monetary Agency (SAMA) is the kingdom's central money and banking authority.

It regulates commercial and development banks along with other financial institutions.

Going forward, Saudi Arabia has new regulations to guide their monetary system into the new QFS.

© Goldilocks

https://tradearabia.com/touch/article/BANK/411123

https://www.britannica.com/place/Saudi-Arabian-Monetary-Agency

~~~~~~~~~~

Want to know why those stablecoins haven't been voted on within the first week of July?

We have a strong focus on the enforcement of cryptocurrency engagement at this time.

Even though this is needed for now, a move towards collaborative efforts between the SEC and the CFTC is strongly being encouraged for cryptocurrency innovation and growth.

The dust is settling and a lot is taking place behind the scenes. Monetary policies are expected to be done by Saturday. Perhaps we will see the vote this week on Stablecoins.

© Goldilocks

https://heraldsheets.com/ex-sec-and-cftc-chairs-propose-new-crypto-regulatory-approach/

~~~~~~~~~~

"India And Tanzania Started Trade Settlements In Local Currencies: Jaishankar"

India is reporting another trade settlement in their local currency with Tanzania.

New Market patterns are being formed in currency developments trading in local currencies instead of the dollar.

© Goldilocks

https://www.outlookindia.com/national/india-and-tanzania-started-trade-settlements-in-local-currencies-jaishankar-news-301240

~~~~~~~~~~

JUST IN: $820 billion Standard Chartered Bank predicts Bitcoin will reach $120,000 by the end of 2024.

@WatcherGuru

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps