Awake-In-3D: Checkmate (Part 2) – A Global US Dollar Divorce and Re-Monetizing Gold to Support Our RV/GCR

Awake-In-3D:

Checkmate (Part 2) – A Global US Dollar Divorce and Re-Monetizing Gold to Support Our RV/GCR

On July 18, 2023 By Awake-In-3D

In RV/GCR Articles

Continued from Checkmate (Part 1)

The world’s financial landscape is undergoing a seismic shift, departing from the traditional US dollar-centric system towards a multi-polar era.

In this new epoch, various currencies are vying for dominance, and central banks are exploring innovative solutions such as central bank digital currencies (CBDCs). This tectonic movement is driving a re-monetization of gold and fueling speculation of gold’s revaluation against existing fiat currencies, particularly the US dollar and the Euro. In this latest installment of my “Checkmate GCR” article series, we explore the reasons and facts behind this global transition, and how it could reshape the entire monetary order.

The once-unchallenged supremacy of the US dollar in the global financial system is beginning to wane. As Zoltan Poszar, the former Credit Suisse expert, points out, we are witnessing a “monetary divorce” from the US dollar hegemony, leading to a more multi-polar world. This shift is driven by factors such as de-dollarization, the rise of central bank digital currencies, and the strategic goals of nations to reduce dependency on the dollar and diversify their reserves.

What You Will Learn Here in Part 2:

• De-dollarization in a multi-polar financial world

• The re-monetization and re-valuation of gold in the changing financial system landscape

• Gold’s increasing importance in a changing geo-economic landscape

• Central bank digital currencies (CBDCs) as a potential game-changer

• The rise of correspondent central banks and its implications

De-dollarization and a Multi-polar World

The concept of “Bretton Woods III” signifies a shift away from the traditional unipolar world, dominated by the US dollar. Instead, the global economy is embracing a multi-polar approach, where various currencies gain significance. This paradigm shift is driven by Western countries seeking to reduce reliance on Chinese supply chains and Eastern nations aiming to de-risk their relationships with Western financial institutions and the US dollar.

Re-monetization of Gold

One of the key themes emerging in this monetary divorce is the resurgence of gold as a viable monetary asset. Nations that are not geopolitically aligned with the US are increasingly diversifying their reserves and shunning US Treasuries in favor of gold. This trend indicates a growing desire to achieve monetary sovereignty and distance themselves from the uncertainties associated with the US dollar.

The re-monetization of gold is a compelling aspect of the ongoing transition towards a multi-polar world and away from the US dollar-centric global financial system. As countries seek monetary sovereignty and reduce their dependence on the dollar, gold emerges as a strategic and time-tested asset, capable of providing stability and protection amidst economic uncertainties.

While the potential revaluation of gold against existing fiat currencies remains speculative, the growing demand for gold from central banks and the strategic moves made by countries to diversify their reserves speak volumes about gold’s allure in the changing financial landscape.

As the world navigates this transformative period, the role of gold in the global economy may continue to evolve, opening new possibilities and challenges. The journey towards a more multi-polar financial system is underway, and gold’s glimmering path to stability and security is one that warrants close attention from policymakers, investors, and financial observers alike.

Re-valuation of Gold Against Fiat Currencies

As the global fiat currency debt system undergoes a monetary divorce from the US dollar, speculation is rife about a potential revaluation of gold against existing fiat currencies, especially the US dollar and the Euro.

The increasing demand for gold from central banks and the growing trend of countries buying gold instead of accumulating dollars suggest a possible shift in the relative value of gold compared to fiat currencies. If this trend continues, it could lead to a reassessment of gold’s worth in relation to traditional paper currencies.

While it is essential to approach these possibilities with caution, the re-monetization of gold and the shifting dynamics of the global financial system warrant careful observation. Gold’s historical significance and its intrinsic value make it an asset that cannot be easily dismissed, and its potential revaluation may have far-reaching consequences for the entire monetary order.

Gold as a Strategic Hedge

The changing dynamics of global trade and finance have led countries to rethink their approach to financial security. With the re-monetization of gold, central banks can diversify their holdings and insulate their economies from potential shocks in the global financial system.

Moreover, as the world moves toward a multi-polar approach to currencies, gold emerges as a valuable hedge against currency fluctuations. This flexibility grants nations greater control over their financial destiny and mitigates risks associated with over-reliance on a single currency.

Central Bank Digital Currencies (CBDCs) as Cross-border Payment Game-changers

CBDCs represent a disruptive force in the global financial system. As countries explore the possibilities of creating their own digital currencies, the need for correspondent central banks arises. This network of correspondent central banks could potentially provide an alternative system for international transactions, lessening dependence on Western financial centers and the US dollar.

Correspondent central banks may soon become an integral part of the international financial system. By facilitating direct settlement of transactions between central banks, they offer an alternative to the current dollar-based system. This shift could have profound implications for dollar funding and rates markets.

For instance, CBDCs can play a significant role in boosting the internationalization of the Chinese Renminbi (RMB). Countries planning or piloting CBDCs are often linked to the People’s Bank of China (PBOC) through swap lines. The growing share of RMB in trade finance and commodity settlements suggests that the currency’s importance will likely increase in the years to come.

What it Means

The global fiat currency debt system is indeed experiencing a monetary divorce from the US dollar. As countries diversify their reserves and explore alternatives like central bank digital currencies, gold is poised to regain its historical status as a monetary anchor. The emergence of a multi-polar world is reshaping the financial landscape, creating a catalyst for gold to be revalued against existing fiat currencies, particularly the US dollar and the Euro.

As we navigate this transformative period in monetary history, it is crucial to understand the factors propelling this shift and the potential consequences for the global financial system. The journey ahead is both uncertain and full of promise, and the revaluation of gold may be the fulcrum upon which the future of the global economy pivots.

To be continued in Checkmate (Part 3) …

Related Articles: 

Checkmate (Part 1) – How the BRICS Gold Currency will Force USA/Europe to an RV/GCR 

The Global Financial System is Being Restructured to Create a New Asset-Backed Currency System

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https://ai3d.blog/checkmate-part-2-a-global-us-dollar-divorce-and-re-monetizing-gold-to-support-our-rv-gcr/

An Arab currency stronger than the US dollar.. "Forbes" monitors the 10 weakest monetary currencies in the world

KTFA:

Clare:  An Arab currency stronger than the US dollar.. "Forbes" monitors the 10 weakest monetary currencies in the world

7/18/2023

 The American "Forbes" magazine discussed the 10 weakest currencies in the world, of which the Iranian riyal is the weakest, as well as the Lebanese pound, at a time when the Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.

The American report, translated by Shafaq News agency, pointed out that the US dollar is seen as the strongest currency in the world and is the most traded, at a certain level, but it is actually not the strongest currency, but rather the Kuwaiti dinar.

Currency pricing

The report reviewed how foreign currencies are priced, explaining that foreign currencies are traded in pairs, for example, the purchase price of the US dollar is using the pound sterling, and as a result, the currency is always priced in relation to another currency, which is known as the "exchange rate".

 The report indicated that most currencies are "floating", which means that their value fluctuates according to supply and demand, but some currencies are "pegged", which means that their value relative to another currency (such as the US dollar) is fixed at an agreed upon price.

The report pointed out that exchange rates affect the cost of goods and services in a foreign currency. For example, if the pound sterling rose against the dollar, vacation expenses in the United States would be less expensive in terms of the pound sterling.

He added that exchange rate movements provide an opportunity for investors seeking to make profits through trading foreign currencies.

Then the report reviewed the ten most vulnerable currencies in the year, according to an assessment based on the number of foreign currency units that are obtained for one US dollar.

Iranian riyal 

The report considered that the Iranian riyal is the weakest currency in the world, as one riyal buys only 0.000024 US dollars (meaning that one dollar equals 42,273 Iranian riyals).

He pointed out that the Iranian rial was introduced for the first time in the late 18th century, and was later linked to the pound sterling, and then to the US dollar.

He added that although the currency is now floating, it has remained at around 42,000 riyals to the dollar over the past few years.

Despite Iran's leadership in oil and gas, economic sanctions have put pressure on the Iranian currency, in addition to political unrest and high inflation.

Vietnamese dong

The report stated that the Vietnamese dong is considered the second weakest currency in the world, as one dong buys 0.000042 US dollars (or one dollar equals 23,711 Vietnamese dong), a process that began trading in 1978. 

He added that services represent the largest proportion of the gross domestic product, followed by industries such as electronics, energy and textiles, but the currency has been affected by restrictions on foreign investment and the recent slowdown in exports, along with high interest rates in the United States.

Laotian Cape

The report pointed out that the Laotian kip is the third weakest currency, as one kip buys $0.000052 (or $1 equals 19,072 Laotian kip), a currency introduced in the fifties of the last century, and it is a floating currency.

Laos relies heavily on exports such as copper, gold and timber, but the economy has been hit by slowing economic growth, high external debt and inflation, which put pressure on the national currency. 

Sierra Leone

As for the fourth weakest currency in the world, it is the Sierra Leonean leone, where one leone buys 0.000057 dollars (or the dollar equals 17665 Sierra Leonean leone), and it was introduced in 1964, and is fully floating.

He added that the main exports of Sierra Leone include timber and minerals such as diamonds, gold and industrial minerals, and the value of the leone currency has declined due to inflation that exceeded 40%, in addition to large debts, slow economic growth and the economic effects of the Ebola virus outbreak.

Indonesian rupiah 

The Indonesian rupiah is considered the fifth weakest currency in the world, as 1 rupee buys 0.000067 US dollars (or 1 dollar equals 14,993 Indonesian rupiahs), and was introduced in 1946 and was initially pegged to the US dollar before moving to a free float.

The report described Indonesia as the largest country in Southeast Asia in terms of gross domestic product, thanks to the services sector.

Lebanese pound

According to the report, the Lebanese pound is considered the sixth weakest currency in the world, as one pound buys 0.000067 US dollars (or the dollar equals about 90,000 Lebanese pounds). The lira was introduced for the first time in the 1930s and is linked to the US dollar.

He pointed out that Lebanon has an economy based on services, but it also exports precious stones, minerals, chemical products, food and beverages.

He added that the lira fell to a record level against the US dollar in early 2021 due to the severe economic recession, high inflation, unemployment, the banking crisis and political unrest.

Som Uzbekistan

The report stated that the Uzbekistani som is the seventh weakest currency in the world, as 1 som buys 0.000087 dollars (or 1 dollar equals 11.516 Uzbekistani som), a currency introduced in 1993 and fully floating.

Uzbekistan is considered one of the leading countries in the export of cotton and has large reserves of minerals, oil and gas. It is implementing economic reforms, but it still suffers from low economic growth, high inflation, unemployment and corruption.

Guinea franc

As for the eighth weakest currency, it is the Guinean franc, where one franc buys 0.000116 dollars (or 1 dollar equals 8583 Guinean francs). The currency was introduced in 1959 and is fully floating. 

Although Guinea has an abundance of natural resources such as gold and diamonds, it has suffered from increasing rates of inflation, military unrest and the influx of refugees from neighboring Liberia and Sierra Leone.

Paraguayan Guaraní 

And the Paraguayan guarani comes in ninth place, where 1 guarani buys 0.000138 dollars (or 1 dollar equals 7249 Paraguayan guarani), and it was introduced in 1952 and is fully floating.

Although Paraguay is a major producer of soybeans, stevia (a sugar substitute) and beef, as well as exports of corn and sugarcane, it has been pressured by soaring inflation, corruption and counterfeiting of currency.

Ugandan shilling

The Ugandan shilling is considered the tenth weakest currency in the world, as the Ugandan shilling buys 0.000273 dollars (or the dollar equals 3669 Ugandan shillings), and it was introduced in the year 1966, and it is floating freely.

Although the country is rich in commodities such as oil, gold and coffee, its economy suffers from unstable growth, high debt and political turmoil.   LINK

Goldilocks' Comments and Global Economic News for July 18, 2023

Goldilocks' Comments and Global Economic News for July 18, 2023

RJ:  Good morning Dinar Recaps,

Goldilocks posted comments and links on today's global financial news:

Options traders are betting that interest rates are positioned to drop.

Several traders are buying longer-term bonds because they are being presented an opportunity to lock in current yields in case rates fall.

iShares are the leading force in global exchange-traded funds (ETFs).

In other words, the markets are about to transition and go to real values.

© Goldilocks

"US inflation data released last week bolstered investors’ hopes that the Federal Reserve was close to the end of its interest rate hike cycle."

The dollar formed a major peak in September 2022, and it has been falling against major currencies since that time.

It has given countries like India an opportunity. They are considering expanding their Foreign Portfolio Investments with the US.

This is giving India (BRICS) a well-positioned opening to set up their UPI or Unified Payment Interface mechanism with the US and the Middle Eastern Countries.

A move that allows investment trading/payment systems between the US, India, and Middle Eastern Countries to form new price action patterns going forward.

New currency valuations (exchange rates) will form out of these supply and demand setups.

Watch the water.

© Goldilocks

LiveMint LINK 1

LiveMint LINK 2

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Digital Foreign Trade Surges as Online Exports and Overseas Markets Grow, Says Ali International Station Report

"In a recent semi-annual report on digital foreign trade, Ali International Station revealed that digitization has become the prevailing trend in various export industries and foreign trade markets. The report showcased remarkable growth in online exports and increased online traffic in the first half of the year."

We are getting reports that the digitization of trade around the world is really picking up speed.

This will increase the velocity of money going forward and provide needed organic liquidity at the push of the button to move items around the world more efficiently.

The speed of which merchants can build their companies has just increased. The potential to move forward with projects without interruptions is now in the cards.

Money velocity increases demand and demand increases values.

We truly have a Global Currency Reset in the making.

Watch the water.

© Goldilocks

BreakingLatest LINK

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Crypto To Get A Transformation Via Global Rules: G20

The Financial Stability Board [FSB] of G20 has now asserted that implementing these regulations will push cryptocurrency firms to navigate cautiously."

The new digital economy is about to get a transformation at the next G20 meeting.

New Global monetary policies are about to be given the green light inside the QFS.

This meeting takes place September 9-10, 2023.

© Goldilocks

https://watcher.guru/news/crypto-to-get-a-transformation-via-global-rules-g20

https://sdg.iisd.org/events/g20-leaders-summit-2023/#:~:text=The%2018th%20Heads%20of%20State,One%20Family%2C%20One%20Future'.

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FedNow’s “Certified Adopters” List Lacks Blockchain Networks
https://www.thecoinrepublic.com/2023/07/16/fednows-certified-adopters-list-lacks-blockchain-networks/

☝️ uh-oh. This is not a good start for FEDNOW. Will it even get off the ground? We are about to find out.

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As you can see from today's articles, Forex Reforms are taking place around the world as we speak.

It is the blending of Quantum Technologies through payment systems bringing us into a new digital economy.

Protocol 20 is about activating these Quantum Technologies around the world. The upgrade for this event is coming.

© Goldilocks

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https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

"Tidbits From TNT" Tuesday Morning 7-18-2023

TNT:

Tishwash:  so I guess Iraq is not in BRICS yet

Report: An expected decision from Baghdad will "end" the dollar globally

Today, Monday (July 17, 2023), the Watcher Guru magazine, concerned with economic affairs, revealed "accelerated steps" by the BRICS economic alliance led by China and Russia to end the "dollar domination" of the international economy, stressing that the world is now awaiting a "decision from Baghdad." 

The magazine stated, according to its report, which was translated by (Baghdad Today), that "the BRICS alliance is now trying to persuade the largest oil countries, the most important of which are" Kuwait, Iran, the UAE and Saudi Arabia "to enter the BRICS alliance instead of the SWIFT system currently used and which is dominated by the US dollar, stressing that" in If Baghdad agrees to use the BRICS system, the rest of the oil-producing countries will follow in its footsteps," according to its description. 

And she added that "during the next BRICS summit, which will be held in August in South Africa, it is expected that the Baghdad government will sign an agreement under which the BRICS system will be used, which will prompt the rest of the oil-producing countries in the region to follow in the footsteps of Iraq." 

The consequences of Baghdad's expected decision, described by the magazine as "will push the US dollar to the brink of the abyss," stressing that "if the BRICS system is used, the US dollar will suffer the biggest blow in its history," according to its description, stressing that "the Iraqi government had previously expressed its desire to enter the BRICS system.

" BRICS as an alternative to the US dollar, according to statements by Iraqi officials who confirmed their intention to rid the Iraqi economy of US control.  link

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Tishwash:  An Iraqi analyst told "Fares": The presence of the representative of the US Treasury in the Commercial Bank of Iraq is a violation of Iraq's sovereignty

Iraqi analyst Haitham Al-Khuzaie referred to the interventions of the US ambassador in Iraq's internal and external affairs, stressing that the presence of the US Treasury representative in the Commercial Bank of Iraq is a violation of Iraq's sovereignty and is rejected by every honorable Iraqi citizen.

The prominent Iraqi analyst said in an interview with Fars News Agency in this regard: How can a country build its internal and international political experience while the representative of the United Nations and the American ambassador are still interfering in its internal and external affairs, stressing that the interventions of the American ambassador and the representative of the United Nations must be limited by official means and binding them to the contexts of diplomatic action.

With regard to the statements of Iraqi officials about Iraqi sovereignty, while the representative of the US Treasury Department visits the Commercial Bank of Iraq to monitor the movement of Iraqi funds? Haitham Al-Khuzaie replied: The presence of the representative of the US Treasury in the Commercial Bank of Iraq is a violation of the sovereignty of Iraq and is rejected by every honorable Iraqi citizen. The first step is to be transparent with the people, then move officially with popular support and expel American employees from Iraqi institutions.

Regarding the unwillingness of some Iraqi politicians not to clash with the United States and believe that it has tools to put pressure on the country, the question that arises is, did China, Russia, India, Brazil, Indonesia and Vietnam build their renaissance despite America's nose? The Iraqi political analyst said: The American forces did not leave Iraq in 2011 except by force, and it is possible for people to demonstrate to expel them and for the government to officially ask them to do so, then the force option remains on the table.

It is noteworthy that the head of the "Al-Fateh" coalition in Iraq, Hadi al-Amiri, recently accused the United States of America of controlling Iraq's money, and said: It is necessary to work to achieve economic sovereignty in Iraq after the security and political stability that Iraq is currently witnessing, and added: It is shameful that the money of Iraq is controlled by an employee in the American treasury. link

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Tishwash:  Iraq disrupts official working hours tomorrow, Wednesday

The General Secretariat of the Council of Ministers confirmed that tomorrow, Wednesday, will be an official holiday in all state departments and institutions, on the occasion of the Islamic New Year.

The General Secretariat said in a statement, "Tomorrow, Wednesday, corresponding to the nineteenth of July, 2023, is considered an official holiday, on the occasion of the new Hijri year."

Yesterday, the Kurdistan Regional Government announced the suspension of working hours tomorrow, Wednesday, for the same occasion.  link

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Tishwash:  Specialists: The local economy needs advanced technology

 Advisor to the Prime Minister for Investment Affairs, Muhammad Al-Najjar, confirmed: The government is serious about supporting the productive and service sectors, in a way that leads to reviving the qualitative national product and returning it to the local markets, while specialists believe that the local economy needs advanced technology.

 Al-Najjar said in an interview with "Al-Sabah", followed by "Al-Iqtisad News": "The country is able to advance the reality of production and services through the adoption of advanced technology," pointing out that "Iraq can rotate the wheel of industrial and agricultural production through which the country's wealth can be maximized, and create A capital circulation within the country that would work to expand the circle of work, by employing financial revenues in new projects that achieve great benefit to the national economy link

Mot Only in Texas - as they Say!!!!

Mot: Be careful out there- Its a hot one today.

MilitiaMan and Crew: Iraq Dinar - Central Bank - Iraq Trade Bank - Article 140 - Exchange rate - Dollar

Iraq Dinar - Central Bank - Iraq Trade Bank - Article 140 - Exchange rate - Dollar

MilitiaMan and Crew:  7-17-2023

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

News from Kurdistan, Iraq, the New Year Holiday , The budget, Sudani and much more…

Please listen to entire video for all the information.

https://www.youtube.com/watch?v=pu86mlWdrnQ

Tuesday Morning Iraq Economic News Highlights 7-18-23

Tuesday Morning Iraq Economic News Highlights 7-18-23

Warnings Of The Closure Of Al-Faw Port And Blocking The Way For Ships Because Of Kuwait

Information / Baghdad   Political analyst Sabah Al-Aqili warned, on Tuesday, of an economic catastrophe that might afflict Iraq in the event that the road to ships is cut off, the port of Al-Faw and other ports are closed, and marine oil exports are stopped due to Kuwait's control of Khor Abdullah.

Al-Agaili told Al-Maalouma, "Kuwait knows that UN Security Council Resolution 1993 No. 833, which drew borders and granted Kuwait the right to control Khawr Abd Allah, Al-Amiya and nearby areas, while history confirms the ownership of this region to Iraq."

He added, "Iraq can file a complaint with the United Nations to challenge this decision, as well as resorting to the International Court of Justice to review maps and documents that prove the ownership of the region to Iraq."

And he indicated that "Kuwait's control of Khawr Abd Allah means ending the presence of Iraqi ports, especially the great port of Faw, and thus killing the Iraqi economy, ports and oil exports through it, in addition to making the wrong way for commercial ships to receive commercial ships in the great port of Faw."

He pointed out that "some political leaders complimented Kuwait in 2015 after they received gifts and bribes from the Kuwaiti side in order to overlook the Khawr Abdullah file." LINK

The Oil And Gas Law Takes Center Stage Amidst Assurances That The Problems Of Baghdad And Erbil Will Not Be Solved

Today 10:03   Information / Baghdad... The former member of the Parliamentary Oil and Energy Committee, Ghaleb Muhammad Ali, confirmed, on Tuesday, that the oil and gas law will not solve the existing problems between Baghdad and Erbil over the oil file, pointing out that the Kurdistan government seeks to make the region’s oil powers in its hands at a time when there is a decision by the Federal Court that obliges the government control of this file.

Follow the "information" channel on Telegram.. news that does not need to be documented..

Ali told Al-Maalouma, "The oil and gas law will enter into mazes and many problems will arise around it if it is a political and technical law, but when it comes to technical aspects, it will not affect oil dealings, whether with the region or other provinces."

He added, "There is a decision by the Federal Court stipulating that the federal government control the oil file inside and outside the region, and obligated the government to have the oil management fully under the control of the Ministry of Oil and SOMO, and therefore the oil and gas law should not contradict the court's decision."

He pointed out, Ali, that "the oil and gas law will not solve the problem between the center and the region, as Kurdistan seeks to have all the powers of the region's oil in its hands, while the center insists that the powers be under its authority." LINK

About 46 Million Barrels Of Iraqi Oil Exports To America In The First Third Of The Year 2023

Energy   Economy News _ Baghdad  The US Energy Information Administration announced today, Tuesday, that Iraq's oil exports to America amounted to about 46 million barrels during the first third of the year 2023.

The administration said in a table seen by "Al-Iqtisad News", that "Iraq's exports of crude oil and its products to America during the first third of the year 2023 and starting from January, February, March and April amounted to 45.998 million barrels, an increase of 37% over the same period in the year 2022, which America's oil exports amounted to 29.029 million barrels, an increase of 65% compared to the same period in 2021, in which oil exports to America amounted to 16.112 million barrels.

And she added, "The highest rate of oil exports to America during the first third of the year 2023 was in the month of February, when it amounted to 12.168 million barrels, while the lowest rate of oil exports was for the month of April, when it amounted to 10.942 million barrels."

He pointed out that the highest rate of exports for the first third during the past ten years was in the year 2018, when it amounted to 86.317 million barrels.

Iraq exports nearly 10% of its oil exports to America, and Iraq is considered among the top ten exporting countries to America, along with Canada, Mexico and Saudi Arabia.

Views 15  07/18/2023 - https://economy-news.net/content.php?id=35198

What Is The Reason For The Increase In Iraqi Oil Exports To America? .. An Expert Explains

economy |Today, 11:3  Baghdad today - Baghdad   Today, Tuesday (July 18, 2023), economist Nabil Al-Marsoumi explained the reasons for the increase in Iraqi oil exports to the United States, while stressing that Russia has displaced Iraq from the first place by exporting oil to India.

Al-Marsawi said in a post on his personal account on the “Facebook” platform, followed by “Baghdad Today”: Iraqi oil exports to the United States of America increased from 241 thousand barrels per day in the first third of 2022 to 383 thousand barrels per day in the first third of 2023. .

He pointed out that "this is due to the geographical redistribution of Iraqi oil exports, which lost part of its share in the Indian market in favor of Russia, which has become the first source for India as a result of the large price discounts on the prices of Russian Urals crude," stressing that it "displaced Iraq to second place."

And the economist stated that "Iraq exports about 11% of its oil exports to America," stressing that "it is the second largest oil exporter to America in OPEC after Saudi Arabia, and it is also among the top ten oil exporting countries to America."

Earlier, the US Energy Information Administration announced that Iraq's oil exports to America exceeded 250,000 barrels per day, becoming the fourth largest exporter to America, indicating that the average US imports of crude oil during the past week from eight countries amounted to 5.562 million barrels per day, up by 265,000. barrels per day, compared to the previous week, which amounted to 5.297 million barrels per day.   LINK

Citizens Under Penalty Of Fraud On The "Dollar" Platform

The first  2023/07/18: Hoda Al-Azzawi,  a new fraud and fraud carried out by influential parties in financial companies and banks, against hundreds and perhaps thousands of citizens without their knowledge. The head of the "National Approach" bloc and a member of the Parliamentary Integrity Commission, Ahmed Taha Al-Rubaie, received dozens of complaints from citizens confirming the presence of their names in the " The "platform" launched by the Central Bank of Iraq to sell foreign currency "dollars" and receive amounts designated for travel while they have not traveled at all. 

Al-Rubaie explained, in an interview with "Al-Sabah", that "the issue falls within the circle of fraud and fraud operations, and it may have been carried out on (wide levels) in coordination with influential parties, and these parties may have received the sums instead of tens of thousands of citizens or hundreds of thousands, Especially since the platform is closed, and most citizens do not know anything about it, and whoever is lucky to know that will bear the penalty of accusation and exploitation.

He stressed that "banks (governmental and private) are the only party authorized to issue (credit cards - Visa or Master Card), and therefore the fraud and fraud operations were carried out by people within those banks and money transfer companies managed by influential people."

Al-Rubaie pointed out, "We, as a legislative oversight body, have sent an inquiry letter to the Central Bank, and the matter will be followed up by the Federal Integrity Commission to uncover fraud and manipulation operations that were carried out smoothly and without accountability, and by people who have a direct or indirect relationship with government institutions." Or non-governmental organizations to take advantage of the (closed platform) and list names and receive sums allocated for travel to citizens whose passports for travel were not even indicated. 

A member of the Parliamentary Integrity Committee noted that "these issues are very serious, as the file or goal may not only be financial, but may also result in other matters, such as the use of a person's documents in imports, and may result in legal matters that fall victim to the citizen who needs quite a while to prove his innocence."

Al-Rubaie called for "forming specialized committees to uncover those involved and accomplices in these operations," asking the Central Bank about its responsibility and procedures in the face of these clear violations and explicit manipulation by companies and banks that are the only party capable of issuing (credit cards).

And to ascertain the truth of the information obtained by “Al-Sabah” by the head of the “National Approach” bloc and a member of the Parliamentary Integrity Committee, and regarding the aforementioned complaints to the Central Bank, the latter did not deny the complaints received from a member of the Integrity Committee.

The Deputy Governor of the Central Bank, Dr. Ammar Hamad Khalaf, explained to “Al-Sabah” that “many complaints were received by the Central Bank by citizens regarding their receipt of the amounts allocated for travel while they did not travel,” pointing out that “the Central Bank is aware of this,

The companies involved were held accountable and all measures were taken, including fining the company or the bank and compensating the citizens by the company involved, until the measures taken by the Central Bank reached the point of stopping the company from entering the window as a punishment.

And he stressed that "the Central Bank takes into account all complaints and takes the necessary measures against these companies and banks, and issues penalties and compensating citizens."

In turn, Muhannad Al-Atabi, a researcher on political affairs, said in an interview with "Al-Sabah": "The corrupt are still making use of every loophole they see to plunder the country, and this is evidenced by the rumors of leaks and even confirmations of the exploitation of citizens' passports without their knowledge to earn foreign currency." (The dollar) that the government sells at the official rate, so that money gangs can seize it and sell it at the black market price.”

He pointed out that "we have been informed that there are banking companies, in collusion with tourism companies, that have earned huge amounts of money in the names of citizens who have not traveled," expressing his astonishment "at the slowdown in legal deterrence, which makes those concerned face the responsibility of performing their duty."

Edited by: Muhammad Al-Ansari  https://alsabaah.iq/80889-.html

The Kurdistan Minister Of Transport Comments On Baghdad's Decision To Suspend Flights To Erbil And Sulaymaniyah Airports

Policy   2023/07/18 10:21  Number of readings: 237 Baghdad - Iraq today: The Minister of Transport in the Kurdistan Regional Government said, "There are no security or administrative problems at Erbil and Sulaymaniyah airports, and no security forces have been deployed at the two airports."

The Minister of Transport, Anu Jawhar, said in a press interview that the Baghdad Aviation Authority suspended flights to the Kurdistan region for several hours, but did not explain the reason. "The date for opening the airspace of the Kurdistan region has not been decided," he said.   LINK

Specialists: The Local Economy Needs Advanced Technology

Money and business  Economy News – Baghdad  Advisor to the Prime Minister for Investment Affairs, Muhammad Al-Najjar, confirmed: The government is serious about supporting the productive and service sectors, in a way that leads to reviving the qualitative national product and returning it to the local markets, while specialists believe that the local economy needs advanced technology.

 Al-Najjar said in an interview with "Al-Sabah", followed by "Al-Iqtisad News": "The country is able to advance the reality of production and services through the adoption of advanced technology," pointing out that "Iraq can rotate the wheel of industrial and agricultural production through which the country's wealth can be maximized, and create A capital circulation within the country that would work to expand the circle of work, by employing financial revenues in new projects that achieve great benefit to the national economy.   Views 22  07/18/2023   https://economy-news.net/content.php?id=35203

Amnesty International Protests Two Projects Of The Iraqi Government: Freedom Of Expression Is Threatened And Must Be Withdrawn

policy |Baghdad today - follow-up  Today, Tuesday (July 18, 2023), Amnesty International and the Ansam Network for Digital Rights in Iraq said that the Iraqi government has re-introduced two bills to Parliament, which, if approved, would severely restrict the right to freedom of expression and peaceful assembly of the Iraqi people.

The reintroduction of these two bills coincides with a series of prosecutions targeting people who criticize government figures, as well as a campaign led by the Ministry of Interior to crack down on “low content” online. Between January and June of this year, the authorities prosecuted at least 20 people for peacefully exercising their human right to freedom of expression. Six people were sentenced to prison but have since been released.

“The Iraqi authorities’ recent attempt to suppress freedom of expression reveals their blatant disregard for the extraordinary sacrifices Iraqis made during the 2019 uprising to ensure their freedoms,” said Bissan Fakih, Amnesty International’s Iraq and Yemen Regional Campaigns Officer. The Iraqi government should immediately withdraw these two repressive bills, and the House of Representatives should not pass any laws that unduly restrict the human rights of Iraqis."

The proposed bill on freedom of expression and peaceful assembly would give Iraqi authorities cover for a democratically approved law to unfairly prosecute anyone who makes public comments that violate “public morals” or “public order.”

 Under the proposed cybercrime bill, those who post online content deemed to harm the vaguely defined “higher economic, political, military or security interests of the country” could face up to life in prison and a fine of up to 50 million dirhams. Iraqi dinars (about 38,000 US dollars).

During meetings with Amnesty International in Baghdad in May, human rights defenders and activists expressed concern that the two bills would enable the authorities to further crack down on peaceful dissent. The proposed reforms are deeply troubling due to the recent wave of prosecutions related to freedom of expression.

One Iraqi comedian, who was prosecuted in an Iraqi court during the “low content” campaign, told Amnesty International: “I can no longer make fun of any party, the state, or any public figure…or the condition of roads, water, schools or bridges.” . Why? Because everything belongs to political parties.”

Restrict freedom of expression and peaceful assembly

On May 9, 2023, the House of Representatives conducted its second reading of the proposed law on freedom of expression and peaceful assembly, and Mohamed al-Halbousi, Speaker of the House of Representatives, may call for a public vote on the law at any time.

Moreover, amendments to the two bills are currently being discussed by lawmakers privately, according to individuals who participated in the discussions and saw new language proposed in the drafts, but these amendments have not been made public, and it is not clear if they will be made available to the Iraqi people. See the final version of the two dangerous bills before a possible vote on them.

Haider Hamzouz, Executive Director of Ansam Network, said: “It is unacceptable that we in Iraq today suffer from a lack of access to information about draft laws under consideration by Parliament. Access to information is a basic human right, and it is one of the basic factors for the rule of law, in order to enable citizens to participate effectively in political life and to fight corruption.”

The draft law prohibits “defaming religions, sects, and sects,” and anyone proven to have “publicly insulted a ritual, a symbol, or a person that is revered, glorified, or respected by a religious sect,” faces a prison sentence of up to 10 years, and a fine of up to 10,000,000 dinars. Iraqi ($7,600).

Given that religious symbols play a prominent role in the main political parties in Iraq, banning criticism of them will severely limit people’s exercise of their right to freedom of expression, and under the International Covenant on Civil and Political Rights, when a state party imposes restrictions on the exercise of freedom of expression, these Restrictions The right itself is at risk, and the relationship between the right and the limitation and between the rule and the exception must not be reversed.

The bill also allows the authorities to ban public gatherings, unless prior permission is obtained from the authorities at least five days in advance. It does not say what criteria the Iraqi authorities will apply in approving or banning protests, in effect giving them the power to ban all protests.

In its authoritative interpretation of Article 21 of the International Covenant on Civil and Political Rights on freedom of assembly, the UN Human Rights Committee has stressed in its General Comment No. 37 that “the requirement to apply for permission from the authorities undermines the notion that peaceful assembly is a fundamental right. If national laws still provide for licensing systems, these systems should be used, in practice, as notification systems, with the license granted automatically unless there are compelling reasons not to do so.”

Protesters in Iraq are already facing repression at the hands of the security services, and this risk increases any time the authorities consider a protest unauthorized, as they almost always resort to the use of force to break up such protests. Amnesty International has previously documented how at least 600 protesters were killed and thousands more injured during nationwide anti-government protests in 2019, after security forces used lethal force.

Monitor freedom of expression online

The government reintroduced the Information Crimes Bill to the House of Representatives in November 2022. Under the vaguely worded proposed law, anyone found guilty of “fueling sectarian tensions or strife” or “undermining the country’s independence, unity, safety, or economic interests, or political, military or supreme security,” could face up to life imprisonment and a fine of up to 50 million Iraqi dinars (approximately $38,000).

Bisan Fakih concluded, "In April 2023, the Iraqi government reaffirmed its promise to Amnesty International that it would guarantee public freedoms, yet its actions in Parliament are not in line with this affirmation."   Source: Amnesty International   LINK

Iraqi News Highlights Monday Evening 7-17-23

Iraqi News Highlights Monday Evening 7-17-23

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance Hosts The Governor Of The Central Bank To Discuss The Exchange Rate Of The Dollar

Political  | 07/17/2023  Baghdad - Mawazine News  The Parliamentary Finance Committee announced, on Monday, that it decided to host the Governor of the Central Bank, Ali Al-Alaq, next week.  The deputy head of the committee, Ahmed Mazhar al-Jubouri, said, “After approving the budget and fixing the exchange rate of the dollar at 1,320 dinars, there will be a hosting of the governor of the Central Bank and his advanced staff next week in the Finance Committee to discuss the issue of the exchange rate.” He added, “The committee will discuss with the governor about the bank’s plan. ” In maintaining the exchange rate.” https://www.mawazin.net/Details.aspx?jimare=231521

The Dollar Continues To Rise..The Paper Touches 150,000 Dinars

Political  07/17/2023  Baghdad - Mawazine News  The exchange rate of the dollar rose this evening in the local markets in Iraq.  The selling price of 100 dollars was recorded at 149,500 Iraqi dinars.  While the purchase price was recorded at 147,500 Iraqi dinars.  https://www.mawazin.net/Details.aspx?jimare=231527

The Central Bank Is Following Up On The Field The Banking Reform Strategy

Sameer Al-Nusairi   During these days, the Central Bank followed up with field tours of our governmental and private banks, which began last week in Erbil with a specialized and expanded meeting in the presence of banks operating in the province and the Association of Iraqi Private Banks. Field follow-ups continued today to the two governmental Iraqi Trade and Industrial Banks.

One of the most prominent things that was mentioned and emphasized by the Governor of the Central Bank as a main goal is the role of the Central Bank and the banking sector in implementing Paragraph (7) of Article (12) of the government program (financial and banking reform), which stipulates (reforming the banking system in Iraq to provide a real base And effective to advance the Iraqi economy and stimulate investment through restructuring and mechanization of government banks, reviewing their work, stimulating private banks and enabling them to be able to support real investment and development).

Where the Central Bank implements its plan for this year to build clear foundations for market stability and maintain the stability of the exchange rate of the Iraqi dinar according to the official target price and support its purchasing power and continue the campaign to support the Iraqi dinar at all levels.

Therefore, the directives of the Governor of the Central Bank to private banks in Erbil were to carry the directions The same for government banks in Baghdad. And from our follow-up and analysis of the results of field visits, the focus has been focused on as obligatory goals, which are as follows: -

First - raising the level of accuracy and speed in executing foreign commercial transfers and overcoming delays in them through in-depth negotiations with the US Federal Reserve and agreement with an auditing company specialized in auditing remittances instead.

From the US Federal Reserve, and this contributed to the success of the project by 80%, and the allocation of a permanent and developed center to conduct these transfers and ensure the stability of the exchange rate.

Second - Supporting the productive private sector, financing and developing small and medium enterprises, in a way that contributes to reducing unemployment, revitalizing the economic cycle and stimulating the economy.

Third - Enabling the banking sector to contribute to development and investment, as stated in the government program, and suggesting that banks finance the project of paving a commercial road between Baghdad and Erbil, which achieves an important strategic goal that serves trade, transport, investment, and rapid hospitalization, and is considered one of the pillars of sustainable development projects.

Fourth - Improving the level of services provided to customers and investing in modern financial and banking technologies.  Views 133  07/17/2023 https://economy-news.net/content.php?id=35175

Al-Sudani Chairs A Meeting To Discuss Launching A New Initiative To Advance The Industrial Sector

Political  | 07/17/2023   Baghdad - Mawazine News  On Monday, Prime Minister Muhammad Shia al-Sudani chaired a meeting devoted to discussing the reality of the industrial sector in Iraq and the path of launching a new industrial initiative to advance this sector, in the presence of a number of consultants and representatives of the private sector.

Al-Sudani's office stated in a statement, which Mawazine News received a copy of, that "the meeting discussed including the initiative in reviewing decisions and legislation related to the industrial sector, as well as preparing a package of urgent decisions aimed at rapid support for the national industrial sector."

During the meeting, Al-Sudani directed "to take urgent and rapid measures that enable the state to improve the environment for industrial investment and develop its contribution to the national economy."

The Prime Minister affirmed, "The government is keen to adopt promising national industrial projects, which will be a partner to the state in implementing economic development plans, and that the government is serious in its endeavor to advance the industrial reality as part of the economic reform adopted within the priorities of the government program."

https://www.mawazin.net/Details.aspx?jimare=231512

$219.7 million in Central Bank sales  Economy News – Baghdad  Today, Sunday, the sales of the Central Bank of Iraq, in the foreign currency sale window, amounted to more than 219.7 million dollars.

The Central Bank’s website published a table of its dollar sales, which was viewed by Al-Eqtisad News, as it included the participation of 35 banks and 93 exchange companies, and covered external transfer requests of $202.9 million, while cash requests amounted to $16.8 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.

Views 29  Added 07/17/2023 - 12:21 PM   https://economy-news.net/content.php?id=35186

Al-Mandalawi Directs The Concerned Parliamentary Committees To Work On Amending The Iraqi Banking Law And To Host The Governor Of The Central Bank

Monday 17, July 2023 19:05 | Economical Number of readings: 128  Baghdad / NINA / - First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, directed the Parliamentary Legal Committee to work on ripening paragraphs and amending the Iraqi Banking Law in line with the orientation of the legislative and executive authorities in supporting the private sector, as a key partner and a real contributor to moving the wheel of development in the country.

During his sponsorship, today, Monday, a symposium held by the Association of Iraqi Private Banks, under the slogan (challenges of the Iraqi banking sector), in the presence of a number of deputies and directors of private banks, called on the Parliamentary Finance Committee to host the Governor of the Central Bank, Ali Al-Alaq, to ​​discuss legislation related to the banking sector.

Iraqi, and developing solutions to the problems and challenges facing private banks, especially opportunities for credits, guarantees, taxes and cash liquidity, in a way that contributes to drawing up a comprehensive strategic investment map for the development of the banking sector in the country. /

https://ninanews.com/Website/News/Details?key=1065461

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

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Awake-In-3D: Checkmate (Part 1) – How the BRICS Gold Currency will Force USA/Europe to an RV/GCR

Awake-In-3D:

Checkmate (Part 1) – How the BRICS Gold Currency will Force USA/Europe to an RV/GCR

On July 17, 2023 By Awake-In-3D

In RV/GCR Articles

The introduction of the new gold-backed currency by the BRICS nations represents a pivotal moment in global finance, setting the stage for a potential seismic shift that could ultimately force the United States and Europe to adopt their own gold-backed currencies. As the BRICS consortium spearheads this move towards a sound money system, the impact on major fiat currencies, particularly the US dollar and the Euro, is bound to be profound.

The emergence of a credible gold-backed currency challenges the very foundation of the global fiat currency debt system, which has been plagued by persistent devaluation and erosion of purchasing power. With participating central banks exchanging their reserve dollars for the new gold-backed currency, the dollar’s devaluation is inevitable, prompting foreign entities to reduce their exposure to the beleaguered fiat currency.

This run on the dollar into gold echoes the events following the suspension of Bretton Woods in 1971, when the market initially seemed unperturbed before the implications became evident, and gold’s price skyrocketed.

As a gold-backed currency gains traction in the BRICS nations and beyond, it becomes increasingly evident that the reliance on fiat currencies for trade and investment is unsustainable. The need for economic stability, interest rate certainty, and a sound monetary foundation will drive the US and Europe to seriously consider adopting their own gold-backed currencies. The revaluation of all international fiat currencies under a balanced, asset-backed monetary system will become increasingly attractive, offering protection against inflation and fostering genuine economic progress.

Such a Global Currency Reset would herald a new era of financial responsibility and prudence, ensuring that currencies are backed by tangible assets and not subject to the whims of central banks. Investors and nations worldwide would be more inclined to adopt gold as a safe haven, adding further pressure on the US and Europe to transition towards a sound money system. As the world witnesses the success of the gold-backed currency model in the BRICS nations, the momentum for a global adoption of this monetary framework would become irresistible, ushering in a new era of financial stability and prosperity for all economies on a level playing field.

The Proposed BRICS Gold-Backed Currency Threatens the Western Fiat Debt System

The emergence of a new gold-backed currency by the BRICS nations presents a serious challenge to the global fiat currency debt system. As the foundation of this alternative currency is laid, the stage is set for gold’s revaluation against existing fiat currencies, particularly the US dollar and the Euro. The mechanics behind the establishment of the gold-backed currency and its potential implications for major currencies, economies, interest rates, and investor behavior are critical aspects to consider in understanding this paradigm shift in the global financial landscape. Policymakers and investors alike must reassess their economic strategies to adapt to the forthcoming changes, making way for a more resilient and stable financial future.

This multi-part article details the impending challenge to the global fiat currency debt system posed by the emergence of a new gold-backed currency. As the BRICS nations lead the way in introducing this alternative, the global financial landscape is set for a seismic shift, with gold poised to be revalued against existing fiat currencies, especially the US dollar and the Euro. This comprehensive analysis highlights the mechanics behind the establishment of the new gold-backed currency and its potential impact on major currencies, economies, interest rates, and investor behavior.

Key Details to be Unpacked in this Article Series

The Global Fiat Currency Debt System:

• The historical detachment of credit from gold and its consequences for the global financial system.

• The devaluation of fiat currencies relative to gold since the end of the Bretton Woods system.

• The implications of the 2% annual target for currency purchasing power and its actual erosion.

The Emergence of a New Gold-Backed Currency:

• The role of the BRICS nations in leading the transition towards a gold-backed currency.

• The significance of gold as a stable medium of exchange in contrast to fiat currencies.

• The potential consequences for western fiat currencies, including the US dollar, euro, and pound.

Understanding the Mechanics:

• The mechanics of how participating central banks will exchange reserve dollars for the new gold-backed currency.

• The devaluation of the dollar as central banks and foreign entities seek to reduce exposure.

• The impact on interest rates, bond yields, and funding costs for the US government and other western nations.

Reassessing Economic Policies:

• The need for western governments to embrace classical economic theories amid the changing economic landscape.

• The potential challenges for the Eurozone and the credibility of the euro.

• The implications for the UK pound and its limited gold reserves.

Gold as the Anchor for Credit Values:

• The historical under-appreciation of gold’s role in financial markets and its return as a key anchor for credit values.

• The stability gold-backed currencies can bring to export values and interest rates.

• The impact on the global financial system and investor behavior as gold becomes a sought-after asset.

Checkmate (Part 1): The Rise of a New Gold-Backed Currency Challenging the Global Fiat Debt System

As the world’s major economies join forces to challenge the dominance of the dollar and the euro, a groundbreaking announcement has gone largely unnoticed by mainstream media. Russia and China, determined to break free from the grip of fiat currency, are laying the groundwork for a new gold-backed trade currency that will revolutionize the global financial landscape. In this article, we delve into the mechanics behind this ambitious project, exploring how it could reshape the global economy and bring about a revaluation of gold against existing fiat currencies, particularly the US dollar and the Euro. As the movement gains momentum and key alliances are formed, we may soon witness the dawn of a new era, one where gold re-assumes its ancient role as a bedrock of value and stability in the ever-changing financial world.

The idea of a new gold-backed currency has recently been propelled into the limelight by an announcement made during a BRICS meeting in Johannesburg. The proposal, which aims to create a currency supported by 41 influential economies, poses a significant threat to fiat currencies, particularly the US dollar and the Euro. While mainstream media has largely ignored this development, it carries immense implications for the global financial system.

Why a Gold-Backed Currency is Desirable

The appeal of a gold-backed currency lies in its potential to undermine fiat currencies, which have often been detrimental to oil-producing nations. Additionally, individuals holding gold are expected to experience an increase in wealth. The decision to introduce such a currency, supported by BRICS members Brazil, Russia, India, China, and South Africa, carries implications far beyond their immediate borders.

The Evolution Away from Fiat

The shift away from fiat currency has been underway for quite some time, with de-dollarization being a key objective for Asian economic giants. Observers have noticed a steady migration of gold from the West to the East, with China and Russia increasing their gold mine output and central banks across Asia accumulating substantial gold reserves. This accumulation indicates a concerted effort to safeguard their currencies in the face of a potential demise of the US dollar.

The Role of Sergei Glazyev

Sergei Glazyev, a key figure in Russia’s macroeconomic policy, has been instrumental in laying the groundwork for the gold-backed currency project. As a board member of the Eurasian Economic Union Commission, Glazyev was entrusted by Putin to design a trade settlement currency for the EAEU. His early proposals involved a basket of commodities, but it became clear that gold would be the most practical and stable solution.

A Trojan Horse for Something Bigger

What may have initially seemed like a currency proposal limited to the SCO and EAEU members has expanded to include BRICS nations. The ambitious plan aims to create a supersized trading block, combining the SCO, EAEU, and BRICS. With their combined population and GDP, this formidable alliance poses a significant challenge to the Western alliance’s hegemony, centered around the US dollar.

The US Treasury’s Response

The US Treasury has been quick to respond to the potential threat posed by the gold-backed currency. Janet Yellen, the US Treasury Secretary, flew to Beijing to discuss the implications of the proposal and its potential impact on the US economy. The US is wary of any shift away from the dollar’s dominance, as it could impact their ability to finance budget deficits and influence global trade.

The Mechanics of the Gold-Backed Currency

The successful implementation of a gold-backed currency requires meticulous planning and cooperation among the participating nations. While some skeptics dismiss the idea, citing practical challenges and a lengthy timeline, others believe that events will unfold more rapidly than anticipated.

Creating the Foundation

Before introducing the new currency, the participating nations must lay the foundation for its smooth operation. This includes setting up the necessary institutions and mechanisms for trade settlement, currency exchange, and gold storage.

Gold Reserves and Valuation

A key aspect of the new currency is its gold backing, which must be substantial enough to inspire confidence and provide stability. The participating nations will need to increase their gold reserves, and the value of gold against existing fiat currencies, particularly the US dollar and the Euro, will need to be reevaluated.

Consolidating Trade Partners

To ensure the success of the gold-backed currency, the participating nations must consolidate their trade partnerships. By forming a formidable bloc that encompasses most of Asia, Africa, and Latin America, they can collectively challenge the dominance of the dollar and the Euro in global trade.

Challenges and Opportunities

Implementing a new gold-backed currency will not be without challenges. Some of the hurdles include convincing member states to participate fully, managing currency exchange rates, and navigating potential geopolitical conflicts. However, the benefits of a stable, gold-backed currency could far outweigh the challenges, leading to increased economic resilience and global influence.

What It Means

The rise of a new gold-backed currency supported by influential economies such as China and Russia poses a serious challenge to the global fiat currency debt system. As the groundwork for this ambitious project is laid, it is becoming increasingly clear that events will unfold more rapidly than anticipated. This currency shift could lead to the revaluation of gold against existing fiat currencies, particularly the US dollar and the Euro, while also reshaping the global economic landscape. Whether this new gold-backed currency will emerge as a formidable challenger to the existing financial order remains to be seen, but its potential implications cannot be ignored. As the world moves towards a new era of monetary policies, one thing is certain: the reintroduction of gold as a bedrock of value and stability has always supported economic prosperity, equal opportunity and wealth creation in free-market financial systems.

To be continued in Checkmate (Part 2) …

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https://ai3d.blog/checkmate-part-1-how-the-brics-gold-currency-will-force-usa-europe-to-an-rv-gcr/

Monday Afternoon Iraq Economic News Highlights 7-17-23

Monday Afternoon Iraq Economic News Highlights 7-17-23

The Finance Committee Is Likely To Launch The Implementation Of The Budget Law Tomorrow

2023-07-17 Shafaq News/ The Parliamentary Finance Committee ruled out, on Monday, the impact of the Iraqi government's appeals on articles of the general budget law in the continuation of the law, suggesting that the implementation of its articles will start from tomorrow.

Committee member, Representative Jamal Koujar told Shafaq News agency, "The appeals submitted by the government against articles and paragraphs of the budget law are the ones that stop, not the budget law."

Cougar suggested that the cabinet session tomorrow, Tuesday, would be the beginning of the launch, and the implementation of the budget law in ministries and state institutions.

Cougar stressed that the Ministry of Finance should be ready to implement the budget law, and we do not know the reasons for the delay in implementing the law.

On the third of July, the head of the federal government, Muhammad al-Sudani, submitted an appeal to the Federal Supreme Court against a number of paragraphs of the budget law, with a request to the court to issue a (state order) to stop the implementation of these articles after the law entered into force until the court decided to challenge the constitutionality of these articles.

On June 12, the Iraqi parliament voted on the financial budget for the three years (2023-2024-2025), with a value of 198.9 trillion Iraqi dinars ($153 billion) for each year.   LINK

Parliamentary Fortunes Depend On Passing The Oil Law On Political Consensus

July 16   Information/Baghdad.. A member of the Oil, Gas and Natural Resources Committee, Sabah Sobhi, pledged today, Sunday, to pass the oil law, to achieve consensus and remove many obstacles.

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Sobhi said in an interview with Al-Maalouma Agency, "The oil and gas law must be submitted to parliament because of its economic importance and its impact on the nature of the political relationship, according to the agreement concluded between the political parties that formed the government.”

He added, "The draft law is still with the government due to the outstanding political differences regarding the law," noting that "the law needs political consensus among all parties without exception."

And he continued, "Seeking to create a suitable environment to solve some of the accumulated problems to proceed with the legislation of the law during the current parliamentary session," pointing to "the continuation of work to solve all problems on the law and put it on the parliament table for the purpose of discussion.”   LINK

It Is Long Overdue.. The Oil And Gas Law Is About To Be Passed In Agreement Between Baghdad And Erbil

Information/Baghdad...  The lack of commitment of the Kurdistan Regional Government to oil exports and the quantities specified for export abroad, in addition to the loss of revenues and the lack of knowledge of the real numbers, prompted Baghdad in the last period to hold a meeting with Erbil in order to agree on specific mechanisms to ensure that oil is not smuggled and real revenues reach the capital.

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Strengthening this agreement comes by proceeding with the legislation of the oil and gas law in order to bind the region to its paragraphs and punish it in the event of breach or export in a manner contrary to the law, which is expected to see the light during the next few period.

A member of the Oil and Gas Committee, Sabah Sobhi, told Al-Maalouma, “The draft oil and gas law is still with the government due to the outstanding political differences regarding the law, as it needs political consensus between all parties without exception. "

Sobhi added, "There is an effort to create a suitable environment to solve some of the accumulated problems to proceed with the legislation of the law during the current parliamentary session."

He pointed to "the continuation of work to solve problems with the law and put it on the parliament table for the purpose of discussion." 

Representative Alaa Al-Haidari from the same committee confirms, during his interview with Al-Maalouma, that "the government program, and according to what was agreed upon by the State Administration Coalition, the oil and gas law will be legislated soon."

Al-Haidari added, “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 regulating oil revenues.”

He continued, "This project is of economic importance and is bound to deliver oil revenues through the Federal Oil Marketing Company, as well as knowing the quantities exported, especially since there is an agreement between Baghdad and Erbil to legislate the law, and therefore the House of Representatives will work to legislate it during the next stage.

On the other hand, a member of the Al-Fatah Alliance, Aed Al-Hilali, told Al-Maalouma, that "passing the oil and gas law from the House of Representatives will contribute to resuming the region's oil exports to Turkey by resolving all outstanding internal problems with Kurdistan.”

Al-Hilali pointed out that "there is a serious effort by the committees set up by the government to negotiate with the Turkish side to resume oil exports."

Despite the economic importance of the Iraqi Oil and Gas Law, which has been awaiting legislation in Parliament since 2005, which stipulates that the responsibility for managing the country's oil fields must be entrusted to a national oil company, which is exclusively supervised by Baghdad, the Dispute is over the issue of managing the oil fields of the Kurdistan Region of Iraq. It was prevented from being voted on for many years. LINK

Political Movement: Washington Imposes A Blockade On Iraq In The Energy File

Information/Baghdad...   On Monday, the Secretary-General of the Jihad and Building Movement, Jawad Al-Saadi, denounced America's attempts to create problems between the government and the people, pointing out that Washington imposes a siege on the country in the energy file and does not allow The entry of companies other than its failed companies to work on electricity projects.

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Al-Saadi told Al-Maalouma, "America does not have the ingredients that can improve the electricity situation in Iraq, and the General Electric Company has become very unsuccessful, at a time when Iraq is going through a major crisis that needs the presence of solid companies to save the energy file."

He added, "The US administration is exercising a policy of pressure on Iraq by controlling the electricity file and not allowing contracts with the German company Siemens or other international or Chinese companies in this sector."

And he indicated that "Washington worked to exert maximum pressure against Iraq, so that it did not allow the entry of discreet companies to revive the electricity file and did not give Iraq an opportunity to buy Iranian gas." LINK

Parliament Describes The Government's Move To Barter Iranian Gas As "Smart"

Information/Baghdad..  The Parliamentary Planning Committee described, on Monday, the Sudanese government's move to take action to solve the electricity crisis for the stations that supply Iranian gas by bartering black oil for the right and smart ones.

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The deputy head of the committee, Muhammad Al-Baldawi, said in an interview with Al-Maalouma, that “the government discussed many solutions in order to solve the problems of Iranian gas and the US sanctions that prevent Iraq from sending amounts of imported gas.” to operate electrical stations," noting that "the step of exchanging gas for black oil is correct." And smart.”

Al-Baldawi added, "The malicious voices rejecting the barter agreement with Iran under the pretext of wasting money, previously refused to import gas from other countries and worked to support the energy sector remaining dependent on the hands of the Americans."

He pointed out, "The Sudanese government's step to take action to solve the electricity crisis for the stations that supply Iranian gas in exchange for black oil is a correct and smart step that was carefully studied."

He pointed out that "the Iranian-Iraqi agreement achieved two things, the first is the continued supply of Iranian gas without interruption, and the second is the exploitation of black oil after it was smuggled and sold at low prices to the Gulf countries." LINK

An Expert Calls For The Application Of Safety Measures To Lift The Ban On Iraqi Airways

Economy News – Baghdad  Aviation expert Faris al-Jawari called, on Monday, on the Iraqi government to implement ICAO's USOAP operational safety audit program in order to lift the ban on Iraqi airlines from flying over Europe.

Al-Jawari said, "Lifting the ban on Iraqi Airways can only be done by developing safety, security and navigation procedures for the Iraqi aviation sector, and disengaging the operational management of Baghdad Airport from the Civil Aviation Authority," noting that "the tasks of the Civil Aviation Authority should be limited to monitoring the performance and work of airports." .

He continued, "Therefore, the administrative restructuring of the joints of the Civil Aviation Authority must be made and made a supervisory authority over Iraqi aviation, with a focus on the presence of air safety inspectors and attention to developing training and qualification procedures for all Iraqi aviation cadres, because it is the basic step to building a professional and efficient aviation sector."

On June 9, 2023, Representative Amer Abdul-Jabbar announced that the EASA organization had extended its ban on Iraqi Airways from flying over European airspace.

Abdul-Jabbar told Al-Iqtisad News that the EASA organization issued an extension of the ban on Iraqi Airways, which was imposed for the first time on the company in 1991.

He added that the ban was not lifted until after we worked in the Ministry of Transport in 2009, but after we left the ministry at the end of 2010, performance declined, until the ban was reinstated in 2015.

He added that since 2015, successive governments have not realized that the ban is not a political matter or a clan issue, and the travel of begging and pleading does not benefit, and does not need a prestige or a fortune-teller. Rather, the matter is there are regulations of the International Civil Aviation Organization (ICAO) and the European Air Navigation Safety Agency (EASA) that must be applied.

Views 19  Added 07/17/2023 - https://economy-news.net/content.php?id=35183

Parliament Is Preparing To Pass Important Laws In Its Second Legislative Term

The first  2023/07/17  Shaima Rashid  During its current session, the House of Representatives is preparing to enact important laws affecting the life of the citizen, as well as hosting some ministers on important files such as the water file and the black oil barter agreement with Iran.

Member of the House of Representatives, Ahmed Al-Sharmani, stated in an interview with “Al-Sabah” that “the subject of the salary scale for employees is in the prime minister’s court, and the draft has been completed and recommendations have been submitted to the Prime Minister by the Ministry of Planning, the Ministry of Finance and the General Secretariat of the Council of Ministers,” indicating that Parliament is waiting A decision by the Prime Minister in this regard, which includes financial consequences, but social justice is an important detail for the sustainability of the political process and security, economic and social stability.

With regard to the legislation of laws, Al-Sharmani explained that "Parliament in this chapter has important files to discuss, including the water and energy file, and the recent agreement between the Iraqi and Iranian sides regarding gas supplies, so we will seek to host the relevant ministers for the purpose of identifying the imbalances and addressing them." In accordance with the constitutional frameworks,” noting that “any official who violates his moral, national and constitutional obligations and exploits the position for his personal purposes, and is negligent in delivering the services that the Iraqi street needs, Parliament will have a firm position with him.”

Al-Sharmani added, "The previous legislative chapter witnessed the adoption of an important law, which is the retirement and social security law, so it seeks to pass laws of this size and importance, such as the (oil and gas) law and the consolidation of social justice, through important laws that can be approved in this chapter, as well Matters affecting the Iraqi family. 

 Edited by: Wael Al-Malook  https://alsabaah.iq/80778-.html

KTFA Members "News and Views" Monday 7-17-2023

KTFA:

Clare:    The Kurdistan government suspends official working hours in the first of Muharram

Shafaq News / The Department of Information and Information in the Kurdistan Regional Government announced on Monday the suspension of official working hours on the first day of the Islamic New Year according to the official calendar.

"The Ministry of Endowments and Religious Affairs will determine today evening after sunset the first day of Muharram and declare it an official holiday," the department said in a statement responding to Shafaq News Agency.  LINK

Paulette:  With a holiday this Wednesday for Islamic New Year, A cabinet meeting tomorrow on New Year's Eve.........Could Kim Clement prophesy be:

".....In the summer months........ Nothing(the week 6/21-6/28), Nothing(the week 6/28-7/5), Nothing(the week 7/5-7/12), Suddenly(the week 7/12-7/19)"...... ?????????

Clare:  The Finance Committee is likely to launch the implementation of the budget law tomorrow

7/17/2023

The Parliamentary Finance Committee ruled out, on Monday, the impact of the Iraqi government's appeals on articles of the general budget law in the continuation of the law, suggesting that the implementation of its articles will start from tomorrow.

Committee member, Representative Jamal Koujar told Shafaq News agency, "The appeals submitted by the government against articles and paragraphs of the budget law are the ones that stop, not the budget law."

Cougar suggested that the cabinet session tomorrow, Tuesday, would be the beginning of the launch, and the implementation of the budget law in ministries and state institutions.

Cougar stressed that the Ministry of Finance should be ready to implement the budget law, and we do not know the reasons for the delay in implementing the law.

On the third of July, the head of the federal government, Muhammad al-Sudani, submitted an appeal to the Federal Supreme Court against a number of paragraphs of the budget law, with a request to the court to issue a (state order) to stop the implementation of these articles after the law entered into force until the court decided to challenge the constitutionality of these articles.

On June 12, the Iraqi parliament voted on the financial budget for the three years (2023-2024-2025), with a value of 198.9 trillion Iraqi dinars ($153 billion) for each year.  LINK

Suzie:  I hope this means getting "off dead center" and get going with all reforms, as they're not using the US dollar anymore they need the rate change to the dinar to execute all their plans including the HCL.  We're starting a new week, again, how long can they keep up with the rhetoric and promises and not perform?  Hopefully Frank will have a few more answers tonight!  Just MY opinion! 

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TBJ:  I believe there are formalities in this process that make this rate change we are looking forward to, to take 'just a bit longer' than we expect, and I sure hope the frustrating "surprise" formalities are near their final end so we can finally experience the end result.....

DoTalkToMe:  I believe Iraq wants to RI. However they are ineffective so far. I believe they still need outsiders help to get it done. They need USA to hold their hand to coax them over the finish line.

Godson:  Imo.. They've been doing it they just haven't finished yet

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Clare:  The President of the Republic directs the need to work hard to implement Article (140) of the Constitution and to follow up on its implementation with the relevant authorities

2023/07/17

His Excellency the President of the Republic, Dr. Abd al-Latif Jamal Rashid, instructed the necessity of serious work to implement Article (140) of the Constitution and to end the outstanding issues regarding it in a manner that preserves the rights of all.

Mr. President stressed the importance of following up the implementation of the decisions of the Supreme Committee for the implementation of constitutional Article (140) by holding meetings and gatherings with the relevant authorities and giving priority to this file, which affects the lives of a wide segment of the components of Iraqi society.

His Excellency had met separately with a delegation that included a number of farmers and farmers from Kirkuk Governorate, and a member of the Supreme Committee for the Implementation of Article (140) of the Constitution, Mr. Babiker Siddig Ahmed, and listened to them about the problems they face, especially in resolving issues related to agricultural lands and not activating Article (140)

Where the delegation, after meeting the President of the Republic, held a number of meetings with officials and relevant authorities, which resulted in taking actual steps to implement Cabinet Resolution No. (29) of 2012 with the aim of finding appropriate solutions for the suffering of the farmers and farmers of Kirkuk.

His Excellency the President directed the formation of a committee in the Presidency of the Republic to follow up the implementation of the decisions of the Supreme Committee of Constitutional Article (140) by the relevant ministries and institutions, and to submit a report to His Excellency in this regard periodically.   LINK

Clare:  The Kurdistan delegation reveals the outcomes of its first meeting in Baghdad

7/17/2023

On Monday, the Kurdistan Regional Government delegation held its first meeting with officials of the federal government, in the capital, Baghdad.

Omid Sabah, the head of the cabinet's office in the region, who heads the Kurdish delegation, said, in a statement received by Shafaq News agency, "The meeting witnessed a discussion about the mechanism for implementing the paragraphs related to the obligations and dues of the Kurdistan Region in the federal general budget."

Sabah added, "The meeting decided to continue working with the Ministries of Oil and Finance and the Board of Supreme Audit, and a high-level meeting will be held in the coming days."

Yesterday, Sunday, a delegation from the Kurdistan Regional Government went to the capital, Baghdad, to meet with officials of the federal government at the Prime Minister's Office, and discuss the financial dues of the region.  LINK

Sir:  IMO- It’s called slow dancing! 

Far too many things going on in the world for the prettiest girl at the prom to be doing the jidder-bug, so we hold her tight and slow dance. 

Surely we have influences out side of Iraq holding things up. Plenty of articles stating that the US needs to recognize Iraq’s sovereignty. I strongly believe that it’s more than just the US. After all we all know that the IMF-WEF-World Bank-WHO-WTO and many other are compromised and have always been compromised.

Iraq is not the only country dealing with corruption and evil people. Unless the corruption in all Fore-mentioned agencies are cleaned out our just eliminated, sadly things will remain the same. You can’t have one ( RI ) without the other ( eliminate corruption).

One thing we can do as good people is to stop playing in their system. Stop shopping at their stores, gas-stations and be sure you have real money ( Constitutional money, gold-silver ). The choice is ours and so we keep slow dancing. IMO….

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Clare:  Parliamentary Finance hosts the Governor of the Central Bank to discuss the exchange rate of the dollar

7/17/2023

The Parliamentary Finance Committee announced, on Monday, that it decided to host the Governor of the Central Bank, Ali Al-Alaq, next week.

The deputy head of the committee, Ahmed Mazhar al-Jubouri, said, “After approving the budget and fixing the exchange rate of the dollar at 1,320 dinars, there will be a hosting of the governor of the Central Bank and his advanced staff next week in the Finance Committee to discuss the issue of the exchange rate.”

He added, “The committee will discuss with the governor about the bank’s plan.
” In maintaining the exchange rate.”    LINK

"Tidbits From TNT" Monday 7-17-2023

TNT:

Tishwash:  Parliament describes the government's move to barter Iranian gas as "smart"

The Parliamentary Planning Committee described, on Monday, the Sudanese government's move to take action to solve the electricity crisis for the stations that supply Iranian gas by bartering black oil for the right and smart ones.

The deputy head of the committee, Muhammad Al-Baldawi, said in an interview with Al-Maalouma, that "the government discussed many solutions in order to solve the problems of Iranian gas and the US sanctions that prevent Iraq from sending amounts of imported gas to operate electrical stations," noting that "the step of exchanging gas for black oil is correct." And smart.”

Al-Baldawi added, "The malicious voices rejecting the barter agreement with Iran under the pretext of wasting money, previously refused to import gas from other countries and worked to support the energy sector remaining dependent on the hands of the Americans."

He pointed out, "The Sudanese government's step to take action to solve the electricity crisis for the stations that supply Iranian gas in exchange for black oil is a correct and smart step that was carefully studied."

He pointed out that "the Iranian-Iraqi agreement achieved two things, the first is the continued supply of Iranian gas without interruption, and the second is the exploitation of black oil after it was smuggled and sold at low prices to the Gulf countries."   link

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Tishwash:  Political movement: Washington imposes a blockade on Iraq in the energy file

On Monday, the Secretary-General of the Jihad and Building Movement, Jawad Al-Saadi, denounced America's attempts to create problems between the government and the people, pointing out that Washington imposes a siege on the country in the energy file and does not allow the entry of companies other than its failed companies to work on electricity projects. 

Al-Saadi told Al-Maalouma, "America does not have the ingredients that can improve the electricity situation in Iraq, and the General Electric Company has become very unsuccessful, at a time when Iraq is going through a major crisis that needs the presence of solid companies to save the energy file." 

He added, "The US administration is exercising a policy of pressure on Iraq by controlling the electricity file and not allowing contracts with the German company Siemens or other international or Chinese companies in this sector." 

And he indicated that "Washington worked to exert maximum pressure against Iraq, so that it did not allow the entry of discreet companies to revive the electricity file and did not give Iraq an opportunity to buy Iranian gas."  link

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CandyKisses:  :  Iraq to open new travel routes with two countries

Baghdad - NAS  

The Ministry of Transport and the Civil Aviation Authority announced that the coming period will witness flights to Germany, Malaysia and China, with efforts to open another route to Morocco.      

Ministry spokeswoman Shatha Radi said in a statement to the official newspaper of "NAS" on Monday (July 17, 2023), that "the ministry is working to develop the work of the national carrier, by adhering to flight schedules and providing the best services and amenities to passengers on board the green bird, especially after receiving the modern aircraft contracted with Boeing, the latest of which is (The Dream Plane)."  

In the same context, she revealed "the company's intention to open a line towards Malaysia, in addition to reactivating the China line in coordination with the International Civil Aviation Organization, noting that the selection of destinations to which the green bird will travel depends on the measure of economic feasibility exclusively.  

Radi indicated that the airlines have technical teams specialized in aircraft maintenance, and in the event that they need maintenance in coordination with the manufacturers, they are contracted directly.  

"It will soon receive engines for one of the parked planes to be installed and operate the aircraft after obtaining the operating certificate," it said.  

In the same regard, PA spokesman Jihad al-Diwan said that "the authority is working to complete all technical steps leading to activating air agreements with European countries and restoring mutual cooperation in the fields of air services, while restarting direct flights with Iraq."  

He pointed to "the existence of high coordination and mutual desires between Iraq and European countries, for such steps to open new air routes in the coming period."  

He added that "the first phase of activating these agreements includes the re-operation of direct flights between Baghdad and Berlin in the coming months, and through coordination and continuous talks with the German side to enhance air cooperation between the two countries," revealing "the authority's efforts to activate the air transport agreement with the Moroccan aviation authority concluded since 2019, in preparation for the conduct of flights between the two countries."  

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CandyKisses:  It's been long awaited. The oil and gas law is about to be passed by consensus between Baghdad and Erbil

Information/Baghdad...

The KRG's lack of commitment to oil exports and the quantities specified for export abroad, as well as the loss of revenues and the lack of knowledge of the real figures, prompted Baghdad in the past period to hold a meeting with Erbil in order to agree on Certain mechanisms to ensure that oil is not smuggled and that real revenues reach the capital.

The consolidation of this agreement comes through the continuation of the legislation of the oil and gas law in order to oblige the region to its paragraphs and punish it in the event of a violation or export in violation of the law, which is expected to see the light during the next short period.

A member of the Oil and Gas Committee, Sabah Sobhi, told Al-Maalouma, "The draft oil and gas law is still with the government due to the outstanding political differences regarding the law, as it needs political consensus between all parties without exception."

Sobhi added, "There is an effort to create a suitable environment to solve some of the accumulated problems to proceed with the legislation of the law during the current parliamentary session."

He pointed to "the continuation of work to solve problems with the law and put it on the parliament table for the purpose of discussion."  

Representative Alaa Al-Haidari from the same committee confirms, during his interview with Al-Maalouma, that "the government program, and according to what was agreed upon by the State Administration Coalition, the oil and gas law will be legislated soon."

Al-Haidari added, "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 regulating oil revenues."

He continued, "This project is of economic importance and is bound to deliver oil revenues through the Federal Oil Marketing Company, as well as knowing the quantities exported, especially since there is an agreement between Baghdad and Erbil to legislate the law, and therefore the House of Representatives will work to legislate it during the next stage."

Mot: ..... Bet He Now Uses ""Da Code"" 

Mot:  siiiggghhh - Yet Another Sleepless Night Trying to Figure This un Out!!!