Iraqi News Highlights Late Friday Evening 7-21-23

Iraqi News Highlights Late Friday Evening 7-21-23

Tlm724 Administrator Bondlady’s Corner

The Crisis Of The Rise Of The Dollar Returns To The Fore... And An Upcoming Parliamentary Procedure

Posted On2023-07-21 By Sotaliraq   On Friday, the Parliamentary Finance Committee confirmed its intention to host the governor of the Central Bank and the Minister of Finance during the next week, to find out the reasons for not controlling the parallel exchange rate.

The parallel price means the exchange rate of the dollar in the market and exchange offices, and not the official rate set at 1132 dinars per dollar, according to the decision of the Board of Directors of the Central Bank of Iraq, which was approved by the Council of Ministers.

The exchange rates of the US dollar rose against the Iraqi dinar, in the Baghdad markets, and in Erbil, the capital of the Kurdistan region, after Washington imposed sanctions on 14 Iraqi banks.

As the Al-Kifah and Al-Harithiya stock exchanges recorded, with the closing, yesterday evening, Thursday, 150,900 dinars for 100 dollars, while in Erbil it recorded 151,000 dinars for every 100 dollars, and the purchase price was 150,950 dinars for 100 dollars.

In this context, Moein Al-Kazemi, a member of the Finance Committee, deputy, says, “The government tried to control the exchange rate, by reducing the dollar from 145 to 130, and was able to provide remittances to countries to which remittances can be sent.”

Al-Kadhimi added, “But there are other countries from which Iraqi merchants import, and US sanctions prevent sending these remittances, forcing these merchants to obtain dollars from the parallel market.”

And he explains, “Which leads to the dollar’s ​​price remaining high in this market, and with the recent measures of the US Federal Reserve not to deal with a number of private banks, this had an impact on the dollar’s ​​price rise, to reach 155.”

Regarding the procedures of the Finance Committee in this regard, Al-Kazemi confirms, “There will be a hosting of the Governor of the Central Bank and the Ministry of Finance during the next week, to find out the real reasons for the inability to control the parallel price.”

A member of the Finance Committee explains, “The lack of control over the parallel price is due to the sanctions imposed by the United States on countries such as Iraq, Syria, Iran, Lebanon, and even on some Turkish companies, which leads to an increase in the black market demand for the dollar.”

On Wednesday, the US Treasury Department imposed sanctions on 14 Iraqi banks in a crackdown on Iran's dollar transactions.

The Wall Street Journal quoted US officials as saying that "the move came after the disclosure of information indicating that the targeted banks were involved in money laundering and fraudulent transactions."

The newspaper added, “Some of these operations may relate to individuals subject to sanctions, which increases fears that Iran will benefit from it.

A senior US official told the newspaper: “We have strong reason to suspect that some of these money laundering operations may benefit either individuals covered by US sanctions, or people who may be included in the sanctions.”

"The main danger of sanctions in Iraq is definitely related to Iran," the US official added.

Shafak Agency learned that the sanctions affected “banks (the Islamic Advisor for Investment and Finance, the Islamic Al-Qartas for Investment and Finance, as well as the Islamic Spectrum, Elaf Bank, Erbil Bank for Investment and Finance, the International Islamic Bank, Pan-Iraq Bank, Mosul Bank for Development and Investment, Al-Rajeh Bank, Sumer Commercial Bank, Trust International Islamic Bank, Ur Islamic Bank, Islamic World Bank for Investment and Finance, and Zain Iraq Islamic Bank for Investment and Finance.”

And the US Treasury Department prevented four other Iraqi banks from accessing the dollar last November, and also imposed, in cooperation with the Central Bank of Iraq, stricter controls on financial transfers in the country in general.

In the past weeks, the Central Bank of Iraq had excluded 4 private Iraqi banks from the currency sale auction (namely: Al-Ansari, Al-Sharq Al-Awsat, Al-Qabid, and Asia) following directives and warnings from the US Treasury about these banks accused of smuggling currency.    LINK

Oil Rises Due To Supply Cuts... Brent Crosses $80

Friday 21 July 2023 09:56 | Economical Number of readings: 446  Baghdad / NINA / - Brent crude prices rose in Asian trading, today, Friday, amid market assessments of the possibility of announcing economic stimulus measures in China after weak economic data, in addition to declining inventories in the United States and reducing supplies from two major producers.

Brent crude futures rose 63 cents to $80.27 a barrel by 0425 GMT, while US West Texas Intermediate crude rose 62 cents to $76.27 a barrel. Prices ended Thursday slightly higher.

For the week as a whole, Brent crude is heading for a 0.5 percent rise, while US crude is heading for a 1.1 percent increase. This means that the two benchmarks continued to rise for the fourth week in a row.

Weak economic data from China weighed on oil prices all week after the world's second-biggest oil consumer reported disappointing growth in gross domestic product for the second quarter, raising the possibility of missing the government's 5 percent annual economic growth target.

However, sentiment in commodities markets rebounded on hope that the central government would introduce more stimulus measures to support the economy.

And Beijing announced last Wednesday that it will lay out plans to stabilize the growth of ten sectors, in addition to increasing support for private companies.

Supporting prices was a decline in US crude inventories, supported by a jump in crude exports, the Energy Information Administration said on Wednesday.

In addition, recent data, such as a lower-than-expected inflation rate and moderate job growth, have convinced many investors and analysts that the Federal Reserve's expected rate hike this month will be the last in the current tightening cycle.

Higher interest rates could slow economic growth and lower demand for oil.

Riyadh announced in early July that it would extend a voluntary production cut of one million barrels per day until August, while Moscow said it would reduce exports by 500,000 barrels per day in August      https://ninanews.com/Website/News/Details?key=1066152

Minister Of Communications: We Are Working To Complete The Procedures For Iraq's Accession To The Digital Cooperation Organization

Money  and business  Economy News _ Baghdad  Today, Friday, Minister of Communications Hayam Al-Yasiri confirmed work to complete the procedures for Iraq's accession to the Digital Cooperation Organization.

A statement by the Ministry of Communications, received by "Al-Iqtisad News", stated that "Al-Yasiri met, via video conference technology, the Secretary-General of the Digital Cooperation Organization, Dima Al-Yahya, and discussed with her completing the procedures related to Iraq's accession to the Digital Cooperation Organization and the services that the organization can provide to Iraq in the field of digitization."

Al-Yasiri emphasized that "Iraq seeks to be an active member in the organization, which is considered one of the specialized organizations that are concerned with advancing the reality of communications and informatics and transferring advanced experiences to the organizing countries to them, in a way that contributes to strengthening digital cooperation between these countries."

Views 47  07/21/2023 - https://economy-news.net/content.php?id=35254

The Central Bank Of Iraq Issues A Statement Regarding Depriving Some Iraqi Banks From Dealing In Dollars

Economy | 12:58 - 07/20/2023 Baghdad - Mawazine News  The Central Bank of Iraq issued, on Thursday, a statement regarding the deprivation of some Iraqi banks from dealing in dollars, while indicating that those banks' requests do not constitute only 8% of the total external transfers.

The bank stated in a statement that Mawazine News received a copy of it, that “against the background of recent media news, the Central Bank of Iraq issued a statement regarding depriving some Iraqi banks from dealing in dollars: In addition to its right to international dealings in currencies other than the US dollar .

3- The application of the electronic platform for external transfers ensures the safety and accuracy of transfer transactions from all aspects, in accordance with international standards and practices, and the law against money laundering and terrorist financing.

The US Federal Bank, the US Department of the Treasury and international financial institutions praise this system, and it enjoys their care, with high coordination from those parties, and with an accredited international auditor.

4- What the Central Bank of Iraq has achieved in terms of expanding transfer channels and approved correspondent banks makes transfer operations available and secure, and that the number of local banks that do this is able to cover all transfer requests, with the ability of the Central Bank of Iraq to cover them without restrictions or ceilings, as long as they involve legitimate operations, bearing in mind that banks banned from the dollar do not make up their requests for only 8% of the total external transfers.

5- The announced exchange rate in the market is based on cash dollars granted by the Central Bank of Iraq to cover citizens’ requests for travel and others, and because of the citizen’s need for the national currency, some merchants and others withdraw dollars for trade or other purposes, away from the platform and away from the fundamental transfer contexts, which leads to an increase in the exchange rate on the black market, which is not a parallel market, as long as the source of the dollar is the central bank and not from within the market.

Establishing a mechanism to link imports, and what proves the existence of a fundamental financial transfer corresponding to its value in order to prevent the use of illegal means to pay their values ​​that constitute unjustified pressure on the cash dollar, and helps, on the other hand, to control manipulation and smuggling of imports.   https://www.mawazin.net/Details.aspx?jimare=231700

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

https://www.bondladyscorner.com/

Goldilocks' Comments and Global Economic News for July 21, 2023

Dinar Recaps,

RJ:  Goldilocks posted comments and links on the global financial system:

Several important items posted last night:

Now, we turn to the final points of our story. The QFS.

I will cover important events taking place in the old system, but my focus going forward will be the QFS.

Remember, the FedNow is having difficulties getting enough Global Digital Networks to interface with this system.

There is a good reason for this taking place. On the other hand, the QFS moves forward.

© Goldilocks.  😉

Banking Announcement:

"US House Republicans pass bill to regulate industry framework, SEC, CFTC registration for BTC and Stablecoins"

☝️ I will speak more on this tomorrow. We should hear more on this tomorrow.

~~~~~~~~~~

TODAY

Introduced in House (01/26/2023)

21st Century Dollar Act

"This bill requires the Department of the Treasury to establish a strategy to facilitate the position of the dollar as the primary global reserve currency.
Treasury must submit a report that includes (1) steps taken to implement this strategy, legislative recommendations, and efforts by major foreign central banks to create an official digital currency; and (2) an evaluation of the role of the renminbi (the official currency of China) in international payments and foreign exchange reserves."

The dollar is taking on a new role in our Global Economy. China's currency is also being evaluated to play a huge part in the new economy.

At this point, the dollar is moving from a World Reserve Currency to a Primary Global Reserve Currency.

These new roles are being facilitated and established by the US Treasury Department indicating a new placement of authority for the dollar/digital in our Global Economy.

© Goldilocks

~~~~~~~~~~

"US House Republicans pass bill to regulate industry framework, SEC, CFTC registration for BTC and Stablecoins."

Now, we need the Democrats to approve this new bill to move forward.

This bill had to be reintroduced this month because of XRP and the SEC finally resolving their case.

It is currently moving through Congress with updated guidelines and clarification on the crypto space.

This new bill includes registration for Bitcoin and Stablecoins.

© Goldilocks

https://www.fxstreet.com/cryptocurrencies/news/us-house-republicans-pass-bill-to-regulate-industry-framework-sec-cftc-registration-for-btc-and-stablecoins-202307210012

~~~~~~~~~~

"A token standard is a set of specific rules and protocols that determine the way a cryptocurrency token is created, behaves, and functions on a blockchain network."

Our new digital economy is requiring us to clarify roles and create guidelines that become monetary policies around the world through a standardized process that develops new protocols for our Global Economy.

Most of our tokens are being defined as commodities going forward. Real values on every sector of the market will get locked into place because of these new roles. Everything is getting tokenized. Every asset.

This puts us inside a Gold Standard Protocol. In the QFS, this may be called by a different name as we move forward.

At this time, networks and countries around the world are interfacing with each other and establishing new trust line payment mechanisms.

Protocol 20 will activate these Quantum Technologies allowing us to seamlessly conduct Global transactions that will reset our Global Payment System under new protocols and prices facilitated by smart contracts and artificial intelligence.

© Goldilocks

https://www.techopedia.com/definition/token-standards

~~~~~~~~~~

Our countries are turning gold more each day, and the US Treasury is being given more and more authority over the economy.

© Goldilocks

https://decrypt.co/149234/bipartisan-bill-would-give-us-treasury-authority-over-defi

https://www.usmint.gov/about/mint-tours-facilities/fort-knox#:~:text=1935%20%2D%20Present&text=August%20%2D%20Congress%20authorizes%20the%20transfer,country's%20precious%20metal%20bullion%20reserves.

~~~~~~~~~~

Blockchain in Transportation and Logistics Market – Increasing venture capital funding and investments in blockchain technology, Various Venders boosting market growth

https://prophecyjournals.com/blockchain-in-transportation-and-logistics-market-increasing-venture-capital-funding-and-investments-in-blockchain-technology-various-venders-boosting-market-growth/

☝️ More liquidity coming into the digital economy.

Considering tokenization: The future of real assets?

"Tokenization, through its utilization of blockchain and other distributed ledger technologies, has begun revolutionizing the digitalization of assets and is emerging as one of the most prominent use cases for the asset class. Real assets, such as real estate, infrastructure, and precious metals, are increasingly adopting tokenization as a means to access investment opportunities from a diverse range of investor groups. The momentum of this adoption is expected to continue, as indicated by a report from BCG and ADDX, which forecasts a potential market worth $16.1 trillion by 2030."

https://www.kitco.com/commentaries/2023-07-20/Considering-tokenization-The-future-of-real-assets.html

~~~~~~~~~~

U.S. Department of the Treasury
Office of Public Affairs
 
Press Release:             FOR IMMEDIATE RELEASE
July 21, 2023
 
Contact:                      Treasury Public Affairs; press@treasury.gov   
  
Remarks by Secretary of the Treasury Janet L. Yellen on Economic Resilience in Hanoi, Vietnam

As Prepared for Delivery

Thank you for that kind introduction. I’m thrilled to be in Hanoi for my first visit to Vietnam as Treasury Secretary. And I’m thankful to the U.S.-ASEAN Business Council and the companies here for your warm welcome.

In 1995, the United States and Vietnam normalized our diplomatic relations. In the 28 years since, we’ve seen a remarkable transformation sweep this country – from here in Hanoi down to Ho Chi Minh City.

This economic boom has been driven by the hard work and talent of the Vietnamese people. And it has been catalyzed by the engine of market reforms and global trade and investment. Vietnam is now a key player on the global economic stage and serves in a critical role in many vital global supply chains.

During this trip, I have seen firsthand the dynamism and energy that has propelled your economic development. This undeniable strength will help you achieve your goal of becoming a high-income country by 2045.

The United States has been your steadfast partner. At the turn of the century, we were proud to sign a robust bilateral trade agreement to expand our economic relationship. In 2007, Vietnam joined the World Trade Organization.

Since then, our relationship has only broadened and deepened. Our trade now encompasses everything from machinery to textiles to electronic components. Many of America’s largest companies – like Apple and Google – have a significant and growing presence in Vietnam.

For the past two decades, trade between our two countries grew at nearly 25 percent a year. That’s an astounding rate. Not only has U.S. imports of Vietnamese goods skyrocketed, but today, the U.S. exports nearly 20 times more to Vietnam than in 2002.

There is no sign that this momentum is slowing. Our goods trade reached a record high last year. I believe this strong economic relationship is possible because it is founded on mutual trust: it stems from our work to address the legacies of the war and is underpinned by the close and growing links between our peoples.

Today, I’d like to speak about how our economic partnership has grown even more important over the past few years. Since 2020, our countries – and the entire world – have faced a series of historic economic, public health, and geopolitical shocks.

In response, President Biden and I are advancing an agenda to strengthen our economic resilience. A driving principle of this agenda is to deepen U.S. engagement and cooperation with a broad network of reliable economic partners in areas like trade and climate. These efforts are not only focused on advanced economies – but also on developing countries and emerging markets like Vietnam.

I believe that this effort is good for the United States. And it’s good for Vietnam and other countries as well.

Economic Resilience Agenda

Let me explain.
In 2020, the world was struck by a once-in-a-century global pandemic. It claimed millions of lives and brought the world economy to a standstill.

Two years later, Russia launched a barbaric full-scale invasion of Ukraine. This war has led to the loss of many innocent Ukrainian lives and destroyed cities and civilian infrastructure. And it has generated seismic volatility in the prices of commodities like food and oil.

The impacts of these shocks have reverberated around the world – from here in Southeast Asia to Africa to North America.

While the causes of these disruptions are global, their impacts are personal. The COVID pandemic caused the first rollback in extreme poverty gains in decades. It also disrupted global supply chains, preventing families and businesses from getting the essential goods that they relied on. These shocks also contributed to global inflation – putting tremendous pressure on household budgets that were already tight to begin with.

~~~~~~~~~~

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Thank you Dinar Recaps

Iraqi News Highlights Friday Afternoon 7-21-23

Iraqi News Highlights Friday Afternoon 7-21-23

Tlm724 Administrator Bondlady’s Corner

Advisor To The Prime Minister: Our Priority Is To Support The Productive And Service Sectors

Economical 2023/07/18 Baghdad: Hussein Thagheb Al-Tamimi, Advisor to the Prime Minister for Investment Affairs, Muhammad Al-Najjar, said:

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 told "Al-Sabah": "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

a capital cycle inside the country that would Work to expand the circle of work, by investing the financial revenues in new projects that will achieve great benefit to the national economy.

Industrial affairs expert Abdul Hassan Al-Shammari pointed out that

"the transfer of advanced technology from its sources to Iraq needs legal procedures that contribute to the smooth entry of production lines, laboratories and equipment that contribute to activating the industrial sector in a phased manner," pointing out that "the country has to start from where it left off."

The world, and it requires the adoption of advanced devices and equipment to achieve economic growth and reduce the gap between Iraq and the developed world.

In an interview with Al-Sabah, he said:    

He pointed out that "the developed global effort began to view the Iraqi work arena as the most important among the countries of the world, due to the presence of a large volume of work in a country that possesses a large amount of wealth, and

this is a great incentive for most international companies, especially that the Iraqi markets accept the new that occurs on the global arena, and that Our country possesses the elements of industrial development in terms of raw materials and a wide and growing consumer market.

A member of the Iraqi Businessmen Union, Ahmed Meklef, pointed out that "benefiting from the experiences of countries must represent the focus of the next performance, as

it requires standing on the requirements of transferring advanced technology and making it the starting point for a new stage that changes the reality of the national economy for a better stage," and stressed

"the inevitability of working on Providing an environment that attracts foreign capital and serves the local economy, especially since the elements for investment advancement are available in the country, foremost of which is Investment Law No. 13 of 2006 and its amendments. 

He stressed that "the transfer of advanced technology must represent the most important requirements for the next stage, and that preparation for this stage takes place in coordination with the developed global investment effort,

especially since the country's companies and factories need a serious stand by the concerned authorities, because most of the available lines were established several decades ago and have gone out." about the scope of service.

And the expert in commercial affairs, Muhammad Zboun, had indicated that "the local market has begun to receive the new that the global industry is witnessing in more than one detail, and

most international companies want to be present in the Iraqi market directly without an intermediary, and  this is an important element that helps supply advanced technology." 

And he indicated that "the issue of technology transfer is important for the advancement of the joints of the economy because we have been away from the world for a long time, and for this you find international companies, especially those that were dealing with Iraq, keen to enter the local market." 

He pointed out that "the local economy needs advanced technology and work to supply it or enter into partnerships with international companies that can transfer technology to the country." https://alsabaah.iq/80878-.html

A Financial Researcher Identifies 5 Reasons For The “Failure” Of Private Banks: They Have Become A Burden On The Iraqi Economy 

Special|.. Today, Thursday, financial researcher Ahmed Al-Janabi said that private banks “failed” to implement the instructions of the Central Bank, and have become a “burden” on the Iraqi economy.

In his interview with Al- Jarida , Al-Janabi put 5 reasons for that “failure”, the first of which is “the dependence of those banks on quick profits by relying on the currency auction, without significant financial risks.” 

He explained that  "the second reason is the inability of private banks to achieve the financial goals for which these banks were established, as well as their inability to attract and develop deposits."

The third reason, according to Al-Janabi, is “the failure to achieve investment goals due to the failure of private banks to attract real capital and employ it in the economic fields.” 

And he continued, “The fourth Saturday is the failure to achieve real profits, because more than 85% of its net profits depend entirely on the currency window.” 

Al-Janabi referred to  “the failure of private banks to achieve development goals and innovative goals, especially their abject failure to innovate new financing formulas and their inability to open branches in sound countries.

The supervisory authority is responsible for this decline in the performance of these banks, because there are 1,000 question marks about the sources of funds for these banks, most of which do not rise to the name “bank”.   https://jaredaiq.net/News/4897

Economic Advisor: The Banking System Is Unwilling To Adapt To The Requirements Of “Disciplined” Work

Special|..  Today, Thursday, economic advisor Ziyad Al-Hashemi considered that the Iraqi banking system is unwilling to adapt to the requirements of disciplined work.

Al-Hashemi said in an interview with “ Al-Jarida ”, that “private banks are working on a strategy of maximizing profits through one main activity related to dollar purchases through the central bank window, without the presence of diversification in other banking services, and

this has led to banking practices that have a lot of financial greed.” , which is represented by transferring dollar cash blocks to the parallel market (through intermediaries) and taking advantage of the price differences,

in addition to exploiting the network of relations with external banks and even international financial transfer companies, to conduct fraudulent operations to transfer dollars and circumvent the recommendations of the Central Bank of Iraq and the controls of the US Federal Reserve.  He explained,

"This leads us to the conclusion that the Iraqi banking system is unwilling to adapt to the requirements of disciplined banking with mechanisms that require a high level of compliance and transparency, and to work towards expansion towards providing real and diversified banking services through which it achieves rewarding revenues."  He continued,

"The efforts of these banks focus clearly on searching for loopholes and weaknesses in the Iraqi monetary, banking and legal system to take advantage of them to sustain their operations and reap profits in a way that violates central controls and has a lot of damage to the Iraqi economy."

 https://jaredaiq.net/News/4901

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

https://www.bondladyscorner.com/

Awake-In-3D: FedNow, Unified Ledgers, Asset Tokenization and CBDCs: A Hidden Agenda of Total Control?

Awake-In-3D:

FedNow, Unified Ledgers, Asset Tokenization and CBDCs: A Hidden Agenda of Total Control?

On July 20, 2023 By Awake-In-3D

In CBDCs and Digital Finance

Current plans for Digital Unified Ledgers and Central Bank Digital Currencies (CBDCs) could create a system of unprecedented power and control, tokenizing all assets and properties, and imposing surveillance reminiscent of Orwell’s “1984.” While the focus on CBDCs captures the public’s attention, the real global agenda might be quietly implementing a Unified Ledger network on a large-scale. This article explores the potential implications, the risks of centralized real-time control, and the need for vigilance in safeguarding personal freedoms and financial autonomy.

Author’s Note: In exploring the topic of blockchain centralized (unified) ledgers and their potential implications, it is important to approach the topic with a balanced perspective. I want to clarify that my intention is not to come across as an alarmist or spread undue fear. Rather, my goal is to convey information that requires careful monitoring and conscious awareness.

Indeed, these digital tokens and networks are merely tools, and like any tool, their impact depends on the hands that control them. The concept of a unified ledger offers undeniable conveniences and efficiencies, potentially streamlining various transactions and processes. However, it also raises questions about the concentration of power and control, which necessitates a thoughtful and vigilant approach.

As we explore the possibilities of such systems, it becomes apparent that the key lies in striking a careful balance between convenience and the preservation of personal freedoms and privacy. Transparency, accountability, and safeguards against potential misuse must be established to ensure that these systems are used for the greater good rather than malevolent purposes.

Engaging in due diligence and staying informed about the developments in this area is essential. By keeping a close eye on how these technologies are implemented and regulated, we can help shape a future that harnesses their potential while safeguarding the rights and liberties of individuals.

It is essential to remain vigilant and responsible stewards of these tools. With a conscious and balanced approach, we can collectively steer these advancements in a positive direction, fostering a world where innovation coexists harmoniously with personal freedoms and privacy.

By the end of this article, you will understand:

• The Global Central Bank Digital Currency (CBDC) and the associated unified ledger system

• Potential unknown consequences of the CBDC system

• Surveillance implications and social credit scoring

• Advantages and disadvantages of the unified ledger system

• Challenges in opposing the implementation of the unified ledger

While the focus on CBDCs captures the public’s attention, the real global agenda might be quietly implementing a Unified Ledger network on a large-scale.

Now that the new FedNow Instant Payment Service is coming online, it is the first Federal Financial Product that used a purely digital Unified Ledger. After reading the recent release from the BIS (Bank for International Settlements) about their plan for a Global Central Bank Digital Currency (CBDC), I couldn’t help but feel alarmed by the potential implications. This article outlines the details of this agenda, why it may concern you, and what actions we can take to push back against it. I’ll explain what this CBDC is, its mechanism, and how it could profoundly impact our lives.

Understanding the Unified Ledger and CBDCs

What is a blockchain centralized (unified) ledger? In simple terms, it is like a giant digital database or platform that keeps a record of all kinds of assets and transactions. Imagine it as a massive, secure book that stores information about everything you own and do, but in a digital form.

In this ledger, instead of just having one copy owned by a single organization, it is controlled and managed by a group of powerful entities, like governments or big companies. This group works together to make decisions about the rules and data stored in the ledger.

The interesting thing about this ledger is that it represents real-world items, like money, properties, or even personal information, as digital tokens. Each token is like a unique digital representation of something you own or have, and it comes with specific rules attached to it.

This unified ledger system allows for quick and convenient transactions between these digital tokens. For example, if you want to buy a house in another country, you could do it almost instantly with just a few clicks, without all the usual paperwork and bank processes.

Imagine a world where everything you own, from dollars in your bank account to your home and car, becomes tokenized on this unified ledger.

However, the downside is that because this ledger is controlled by a group of powerful entities, they have a lot of say in how things work. They can decide the rules that apply to your assets, which might affect your financial well-being and privacy. It’s like a powerful group of people playing a video game with all our possessions and making decisions that impact our lives.

So, while a blockchain centralized (unified) ledger can bring convenience and efficiency, it also raises questions about control, surveillance, and the potential impact on our fundamental rights and freedoms.

The Global CBDC, as described by the BIS, is a unified ledger featuring a tokenized and programmable platform. This might sound complex, but it’s crucial to understand its implications. In simple terms, it’s like turning real-world assets and private properties into digital tokens represented on a single database.

Imagine a world where everything you own, from dollars in your bank account to your houses and cars, becomes tokenized on this unified ledger. Tokenizing means creating a digital representation of an asset, along with specific rules attached to it, determining its use and ownership.

Control and Surveillance in the Hands of Elites

These rules and data are decided and controlled by global elites, like Klaus Schwab, and central planners. The information gathered from real-world transactions and activities is fed into the tokens on the platform.

This unified ledger is like a massive video game, where all these tokenized assets and properties exist. Just like trading items in a game, these assets can be exchanged instantly. However, what is happening today is not in a video game. What makes this alarming is the actions being taken have very real-world and legal implications.

The implications of this CBDC/Unified Ledger construct are concerning. Your ownership and control over your assets and property could be at the mercy of central planners and elites. They would dictate the rules, which might impact your financial well-being, privacy, and even basic rights.

The Threat of Surveillance and Social Scoring

This CBDC extends the surveillance of Big Brother, reminiscent of George Orwell’s “1984.” Creditworthiness would no longer depend on your financial merit but your narrative, political affiliations, and connections. Crony capitalism and favoritism could take over, leading to unfair advantages for certain groups while disadvantaging others.

There are numerous potential unknown consequences of such a system. For instance, social scores or climate scores might be assigned, affecting various aspects of life beyond financial transactions.

The Temptation of Convenience

Amidst all the concerns, the Global CBDC does offer some undeniable conveniences. Transactions would be lightning-fast, extremely cheap, and incredibly convenient. An example given is purchasing property in a foreign country, which could be done instantly with a click of a button, eliminating the hassles of paperwork and bank procedures.

The Global Central Bank Digital Currency is a powerful and transformative concept that could reshape the world as we know it. While it offers the allure of convenience, the potential implications for personal freedom, privacy, and financial autonomy are concerning. As individuals, we must be vigilant, informed, and engaged in pushing back against any system that compromises our fundamental rights and freedoms.

Examples of CBDCs Enforcing Control and Compliance on a Unified Ledger

1. Social Credit Scores: The implementation of social credit scores could determine an individual’s access to financial services and opportunities within the unified ledger system. Those with lower social credit scores might face restricted access or higher transaction fees, limiting their financial freedom.

2. Climate Scoring: To enforce environmental compliance, a climate scoring system could be integrated into the unified ledger, rewarding eco-friendly behaviors and penalizing those deemed harmful to the environment. This could affect an individual’s access to loans, investments, and even travel options.

3. Taxation and Asset Seizure: The unified ledger allows for real-time tracking of financial activities. Governments could implement automated tax collection based on transaction data, potentially leading to unjust asset seizure or loss of funds due to minor errors.

4. Geopolitical Influence: Countries with significant control over the unified ledger’s central infrastructure could exert substantial geopolitical influence. They might impose sanctions on specific individuals or nations by restricting their access to the ledger system.

Resistance and Pushing Back has Challenges – Yet Not Futile

Pushing back against the implementation of a blockchain centralized (unified) ledger and its associated systems presents significant challenges that require careful consideration. One of the primary obstacles is the centralized control spread across multiple entities and jurisdictions. Unlike decentralized systems where no single authority holds absolute power, a unified ledger’s governance structure places decision-making in the hands of a select few. This concentration of power makes it difficult for individuals or societies to identify specific entities to oppose effectively.

The allure of convenience and efficiency offered by the unified ledger system may overshadow concerns about potential control and surveillance. As individuals become accustomed to seamless and lightning-fast transactions, they may be more inclined to accept a loss of privacy and freedom in exchange for the ease of use. This gradual acceptance can create a situation where individuals become increasingly dependent on the system, making it challenging to resist further encroachments on personal liberties.

Additionally, the gradual implementation of a unified ledger might not be presented as a centralized digital currency system initially. Instead, it could be introduced as a more efficient and secure banking and payment system, concealing its true nature and implications. By the time individuals become fully aware of the scope of its control and surveillance, they may already be deeply integrated into the system, making it harder to opt-out or resist.

The influence of powerful stakeholders, such as governments and large corporations, cannot be underestimated. These entities have the resources and influence to shape public perception and regulatory policies, potentially limiting the ability of dissenting voices to be heard effectively.

To address these challenges, awareness and education become crucial. Promoting a deeper understanding of the implications of a unified ledger system and its potential impact on personal freedoms and privacy can empower individuals to make informed decisions and advocate for responsible and transparent implementation. Engaging in open and inclusive discussions about the risks and benefits of these systems is vital in creating a more balanced and equitable future for such technologies.

Overall, pushing back against the implementation of a blockchain centralized (unified) ledger requires a concerted effort from informed and vigilant individuals, regulatory bodies, and civil society. By fostering transparency, safeguarding individual rights, and advocating for responsible governance, we can ensure that technological advancements serve humanity’s greater good without compromising our fundamental liberties.

Other Articles You May be Interested in:

• Florida, Indiana Ban CBDCs: Gold As Money A State’s Right

• IMF’s Global CBDC Platform: Another Step Towards an Elitist Global Currency Reset?

• FedNow Unleashed: A Sinister Creation in the Shadows of Our Financial Freedom

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Ai3D on Twitter: @Real_AwakeIn3D

https://ai3d.blog/fednow-unified-ledgers-asset-tokenization-and-cbdcs-a-hidden-agenda-of-total-control/

"Tidbits From TNT" Friday 7-21-2023

TNT:

Tishwash:  Disclosure of the date of the vote on the oil and gas law and the general amnesty

The Parliamentary Legal Committee in the House of Representatives revealed the date for voting in Parliament on the "oil and gas" and "general amnesty" laws. 

Representative Ahmed Fawaz Al-Latifi, a member of the Parliamentary Legal Committee, said in press statements:

“One of the most important laws that we are working on approving is the oil and gas law and the general amnesty law that was agreed upon within the State Administration Coalition, and this is what has been agreed upon, and I believe that there are final political touches to agree on it, and therefore include them in the agenda and vote on them within the House of Representatives

And they were sent from the Council of Ministers as draft laws, not proposals to the House of Representatives, and therefore we wait in the House as soon as the book or draft laws reach the Parliament, to be referred to the Committee Legal, which is concerned with studying and discussing the paragraphs and rationale of this topic and thus putting it on the agenda soon for a vote on it. link

Tishwash:  Establishment of the first joint free trade zone between Iran and Iraq

Adviser to the President of the Republic and Secretary of the Supreme Council for Free Zones in the Islamic Republic of Iran, Hojjatullah Abd al-Malik, announced the provision of the ground for the establishment of the first joint free trade zone between Iran and Iraq at a point on the other side of the Mahran border. 

On the sidelines of the visit of the Iraqi Minister of Labor to the second exhibition to introduce the investment packages and export capabilities of Iranian free and special economic zones, which is held at the permanent headquarters of international exhibitions in the city of Mashhad, northeastern Iran, Abdulmalik said: "Recently, the Iraqi Prime Minister took into consideration a point on the other side of the Mehran border in Wasit Governorate to establish a joint free zone between the two countries, where studies are being conducted on it at the present time." 

He expressed hope that the first joint free trade area between Iran and Iraq will enter the operational phase and be established by the end of the year. 

He added, Abd al-Malik, that Iraqi investors are also interested in exporting their goods to other places to meet their needs and develop their country's trade by passing through Iran and accessing the Indian Ocean and open waters through Iran's free economic zones. link

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CandyKisses:  U.S. sends thousands of Marines to Middle East

Baghdad - NAS  

The Pentagon announced the deployment of additional troops to the Middle East, including thousands of Marines and warships, in response to recent Iranian attempts to seize commercial cargo ships.      

The US decision came after the department said earlier this week that it would send F-35 and F-16 fighter jets to the Middle East, as well as the destroyer USS Thomas Hudner.  

Gen. Michael Corella, commander of U.S. Central Command (CENTCOM), said the Forces nouvelles would add unique capabilities to the region in order to further protect the free flow of international trade and support rules based on the international order.  

The readiness group consists of three ships, including the Bataan, an amphibious assault ship, where the expeditionary unit usually consists of about 2500,<> Marines.  

The U.S. announcement did not name the ships, but U.S. officials provided details of the units involved in the deployment on condition of anonymity to discuss troop movements.    

Besides Bataan, the group includes two other warships, the USS Mesa Verde and USS Thomas Hodner, and the group left Norfolk, Virginia earlier this month. It was not clear on Friday whether the three ships would continue their incursion into the Gulf region.  

Earlier in July, the US intervened to prevent Iran from seizing two tankers in the Gulf of Oman, including a case in which an Iranian ship fired on an oil tanker.  

In both cases, a U.S. Navy destroyer arrived at the scene, forcing Iranian ships to sail away from the area.  

Meanwhile, US Undersecretary of Defense for Political Affairs Colin Kahl said that "these incidents have received the most attention from the Department of Defense."  

According to a senior U.S. defense official, after the seizure attempt, the United States began flying A-10 aircraft over the Strait of Hormuz, and the planes were equipped with weapons capable of targeting Iranian fast-attack boats and other naval targets.  

The planes were deployed to the area in late March after a series of attacks on US positions by Iran-affiliated militias.  

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CandyKisses:  Central Bank: Banks deprived of dealing in dollars enjoy full freedom to deal in Iraqi dinars in various services

Baghdad / Nina / The Central Bank of Iraq affirmed: "Banks deprived of dealing in US dollars enjoy full freedom to deal in Iraqi dinars in various services within the Iraqi banking system, as well as their right to deal internationally in currencies other than the US dollar."

The bank said in a statement: "The ban on Iraqi banks from dealing in dollars came against the background of auditing bank transfers for the past year (2022) and before the application of the electronic platform and before the formation of the current government as well."

He added: "The application of the electronic platform ensures the safety and accuracy of transfer transactions in all aspects, and that transfers are available and secured thanks to the expansion of transfer channels and approved correspondent banks."

He explained: "The banks prohibited from the dollar do not constitute their requests only 8% of the total foreign transfers," noting: "The announced exchange rate in the market is based on the cash dollar granted by the Central Bank of Iraq to cover the requests of citizens for travel and others."

The Central Bank called on the government to develop a mechanism to link imports and proof of the existence of an original financial transfer corresponding to their value to prevent the use of illegal means in the payment of their values that constitute unjustified pressure on the monetary dollar, and on the other hand help control the manipulation and smuggling of imports. 

Mot:  ....... Just in Time fer da Heat Wave!!!

Mot:  .. Yep!!! -- Bout That Time!!!!

IQD Is Now A Wave Of The Future!! MilitiaMan and Crew

IQD Is Now A Wave Of The Future!!

MilitiaMan and Crew:  7-20-2023

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

Please listen to full video for all the latest news.

https://www.youtube.com/watch?v=SmZqRgMvy0w

Friday Morning Iraq Economic News Highlights 7-21-23

Friday Morning Iraq Economic News Highlights 7-21-23

Disclosure Of The Date Of The Vote On The Oil And Gas Law And The General Amnesty

Policy    07/21/2023  Number of readings: 141   Baghdad-Iraq Today:  The Parliamentary Legal Committee in the House of Representatives revealed the date for voting in Parliament on the "oil and gas" and "general amnesty" laws.

Representative Ahmed Fawaz Al-Latifi, a member of the Parliamentary Legal Committee, said in press statements: “One of the most important laws that we are working on approving is the oil and gas law and the general security law that was agreed upon within the state administration coalition, and this is what is agreed upon, and I think there are touches.”

A final policy to agree on, and thus include it on the agenda and vote on it within the House of Representatives, and it was sent from the Council of Ministers as draft laws, not proposals to the House of Representatives, and therefore we wait in the House if the letter or bills reach Parliament, to be referred to the Legal Committee, and it is concerned with studying and discussing the paragraphs and rationale of this topic and thus putting it on the agenda soon for a vote on it.   LINK

Finance Confirms Its Willingness To Send The Budget To The Presidency Of The Council For A Vote

Al-Hayat News:  The Parliamentary Finance Committee announced its readiness to send the budget to the Presidency of the House of Representatives to proceed with the legislation of the law as soon as possible.

A statement by the Parliament's media department, received by Al-Hayat News, stated that the committee has been working on completing all the remaining matters of the budget items and the numbers listed in the tables. In order to make transfers between amounts on spending units, according to need and population ratio, as well as the importance of increasing financial allocations in the governorates in implementation of the government program.

Explaining that, the committee, headed by Eng. Atwan Al-Atwani and in the presence of its members, continued its meeting on Wednesday evening late at night in order to put technical notes on the federal budget law.  https://allhayat-net.translate.goog/?p=171569&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Resources: Iraq Is On The Verge Of A Great Water Scarcity, And What Is Available In Dams Is The Least In The History Of The Ministry

Economy News – Baghdad  The Ministry of Water Resources confirmed, today, Friday, that Prime Minister Muhammad Shia’a al-Sudani directed that the water file be a priority in discussions with neighboring countries, noting that Iraq is on the verge of a “great water scarcity”, and what is present in Iraqi reservoirs and dams “is the least of what is present in it.” Ministry History.

Taha Darra, advisor to the Ministry of Water Resources, said, "There is a development in the water file with neighboring Iran, and for the first time in years, water flows into the Karun River, which resulted in a decrease in salinity levels in Basra," pointing out that "the Prime Minister is supportive of the Ministry of Water Resources, especially on level of negotiations with neighboring countries.

And he continued, "Iraq is on the verge of a great water scarcity, and what is present in the Iraqi reservoirs and their dams is the least that exists in the history of the ministry," noting that "the ministry is working to remove the excesses that cause a great waste of water by exploiting tens of acres covered with fish lakes, and evaporation is In addition, the agricultural plan must be regulated based on the existing water reserves.

Daraa added, in an interview with the official news agency, that "the ministry uses Tharthar Basin to pump water releases into the Tigris and Euphrates rivers at a rate of 80 cubic meters per second, and 100 cubic meters per second will be reached to reduce salinity and filter the two rivers."

Views 45   07/21/2023 - https://economy-news.net/content.php?id=35248

Resources: Water Scarcity Has Reached Unprecedented Levels In Iraq

Money  and business   Economy News _ Baghdad  Today, Friday, the Ministry of Water Resources confirmed that Al-Sudani directed that the water file be a priority in discussions with neighboring countries, while it revealed that Iraqi reservoirs are facing an unprecedented scarcity in the history of the ministry. 

The advisor of the Ministry of Water Resources, Taha Daraa, said in an interview with the official agency, followed by "Al-Iqtisad News", that "Iraq is on the verge of a great water scarcity, and what is present in Iraqi reservoirs and dams is the least that exists in the history of the ministry," noting that "the ministry is working to remove the abuses that It causes a great waste of water by exploiting tens of dunams covered with fish lakes, and the evaporation is large and unauthorized. In addition, the agricultural plan must be legalized based on the existing water storage. 

He added, "The ministry is using Tharthar Basin to pump water releases to the Tigris and Euphrates rivers, up to 80 cubic meters per second, and 100 cubic meters per second will be reached to reduce salinity and filter the two rivers." 

Deraa stressed the need for "there should be a culture of water consumption at the level of the citizen, the farmer, and the institutions, because we live in water scarcity, and all official social activities are required to educate the community and make it aware of the importance of water rationalization, because it will make us overcome the crisis." 

Daraa added, "There is a development in the water file with neighboring Iran, and for the first time in years, water flows into the Karun River, which resulted in a decrease in salinity levels in Basra," pointing out that "the Prime Minister is supportive of the Ministry of Water Resources, especially at the level of discussions with neighboring countries." 

He pointed out that "there is a directive by the Prime Minister to all ministries, that the water file be a priority in any discussions that take place with neighboring countries, and this is the first time that this has occurred in the history of the presidency of the government. In addition, the Prime Minister directed the security forces to cooperate with the cadres of the Ministry of Resources to remove abuses." ". 

  Views 7  07/21/2023 https://economy-news.net/content.php?id=35255

In The Document.. Serious Developments In Investigating The Theft Of The Dollar And Gold Bullion At The Rafidain Bank

Time: 07/21/2023 Read: 3,406 times  {Economic: Al Furat News} An informed source revealed the latest developments of the investigation committee on the file of the dollar and gold bullion cases in the Rafidain Bank.

The source stated to {Euphrates News} agency, that: “The investigation committee discovered the theft of large sums of dollars and dinars at the dollar sale outlet of the Rafidain Bank at Baghdad International Airport by influential members of some of the employees who were withdrawn from them by the decision of the Minister of Finance and with the complicity of the previous administration of the bank.” whose hand was also withdrawn.”

He added, "There are many files that the committee conducted an investigation about, and it was found that they contained mismanagement, waste of public money, legal and administrative violations with regard to transfers, the appointment of non-professionals in responsible positions in the bank on the basis of nepotism, and the concealment of documents and information in several cases by supporters of the previous administration, including employees and a director." His office is currently in office.

The source pointed out that "there is political pressure on the investigation committee to distort and procrastinate facts, change testimonies and hide the result related to corruption cases, in order to exonerate the previous administration and return it to its position to manage the bank," according to the source.

He pointed out, "Wide praise for the Minister of Finance for taking decisive decisions against the previous administration, which caused many administrative and legal violations, and the use of the position to achieve goals and satisfy partisan parties in illegal ways, and to reveal corruption files and the failure of the bank to develop and keep it in its current position."

And the Minister of Finance, Taif Sami, decided on July 7 to withdraw the hand of the director of the Rafidain Bank and 20 department directors and employees for sixty days due to corruption in selling dollars at Baghdad International Airport.

The Ministry of Finance assigned the head of the National Retirement Authority, Maher Hussein, to run the affairs of the bank.  LINK

The First Free Trade Zone Between Iraq And Iran On The Borders Of Mehran

July 21, 2023  Baghdad / Obelisk Al-Hadath: Adviser to the President of the Republic and Secretary of the Supreme Council for Free Zones in the Islamic Republic of Iran, Hojjatullah Abdul-Malik, announced the provision of the ground for the establishment of the first joint free trade zone between Iran and Iraq at a point on the other side of the Mahran border.

On the sidelines of the visit of the Iraqi Minister of Labor to the second exhibition to introduce the investment packages and export capabilities of the Iranian free and special economic zones, which is held at the permanent headquarters of international exhibitions in the city of Mashhad, northeastern Iran, Abdul-Malik said, “Recently, the Iraqi Prime Minister took into consideration a point on the other side. From the borders of Mahran in Wasit Governorate to establish a joint free zone between the two countries, as studies are being conducted in this regard at the present time,” according to (IRNA) agency.

He expressed hope that the first joint free trade area between Iran and Iraq will enter the operational phase and be established by the end of the year.

He added, Abdul Maliki, that Iraqi investors are also interested in exporting their goods to other places to meet their needs and develop their country's trade by passing through Iran and accessing the Indian Ocean and open waters through Iran's private and free economic zones.

https://almasalah.com/archives/59679

Iraq Market: Trading Of Shares Worth More Than 7 Billion Within A Week

Money  and business  Economy News – Baghdad  The Iraqi Stock Exchange announced today, Thursday, the weekly trading indicators.

  The market said in a statement that it organized “during the third week of July 2023, four trading sessions, from Sunday 07/16/2023 to Thursday 07/20/2023, as the trading session was not organized on Wednesday 07/19/2023 because it coincided with An official holiday, during this week check the indicators below:

 1. The number of shares traded during this week amounted to more than (7) billion shares.

 2. The value of shares traded this week amounted to more than (7) billion dinars.

 3. The trading index in the market closed for the first session of the week at (699.56) points, while the index closed at the end of the week at (705.71) points, achieving an increase of (0.87%) over its closing at the beginning of the session.

 4. During the week, more than (2,700) buying and selling contracts were executed on the shares of companies listed in the market.  Views 52   07/20/2023 - https://economy-news.net/content.php?id=35241

"SOMO" Discusses The Mechanism Of Exporting The Oil Produced In Kurdistan

Energy   Economy News – Baghdad   The Oil Marketing Company (SOMO) discussed with representatives from the Kurdistan region the mechanisms for discharging the crude oil produced in Kurdistan.

The company's media stated in a statement, "The Oil Marketing Company (SOMO) held a meeting that included the general manager of the company, representatives from the relevant departments in the Ministry of Oil, the General Accounting Department in the Federal Ministry of Finance, and representatives of the Ministry of Natural Resources and the Office of Financial Supervision in the Kurdistan Regional Government."

He added, that the meeting "discussed mechanisms for discharging crude oil produced in Kurdistan through the Iraqi Ministry of Oil in the federal government, in accordance with Article 12/ Second (a, b, c, d, e) of the Budget Law for the fiscal years 2023, 2024, 2025, And setting the necessary steps to implement the above paragraphs in order to achieve the public interest.

 Views 28   07/21/2023 -  https://economy-news.net/content.php?id=35252

Minister Of Communications: We Are Working To Complete The Procedures For Iraq's Accession To The Digital Cooperation Organization

Money  and business   Economy News _ Baghdad  Today, Friday, Minister of Communications Hayam Al-Yasiri confirmed work to complete the procedures for Iraq's accession to the Digital Cooperation Organization.

A statement by the Ministry of Communications, received by "Al-Iqtisad News", stated that "Al-Yasiri met, via video conference technology, the Secretary-General of the Digital Cooperation Organization, Dima Al-Yahya, and discussed with her completing the procedures related to Iraq's accession to the Digital Cooperation Organization and the services that the organization can provide to Iraq in the field of digitization."

Al-Yasiri emphasized that "Iraq seeks to be an active member in the organization, which is considered one of the specialized organizations that are concerned with advancing the reality of communications and informatics and transferring advanced experiences to the organizing countries to them, in a way that contributes to strengthening digital cooperation between these countries."

Views 9    07/21/2023 - https://economy-news.net/content.php?id=35254

Iraqi News Highlights Thursday Evening 7-20-23

Iraqi News Highlights Thursday Evening 7-20-23

Tlm724 Administrator Bondlady’s Corner

After America's Sanctions On Banks.. Al-Kinani: The Dollar Will Reach 175 Thousand

Information / Special..  Today, Thursday, economic expert Nasser Al-Kinani criticized the new sanctions imposed by Washington on 14 new Iraqi banks, stressing that imposing sanctions from America is a response to the government after announcing a barter for the supply of Iranian gas. 

Al-Kinani said in an interview with the information agency, "It is expected that the exchange rate of the dollar will reach 175 compared to 100 dollars during the current month," noting that "Washington's recent sanctions will restore the recent dollar exchange crisis in the local markets."  

 And he continued, "The Central Bank will work to increase its sales during the coming period for the purpose of filling the deficit that will occur as a result of removing 14 Iraqi banks from the electronic dollar platform," noting that

"Washington deliberately imposed sanctions on large banks, which are considered one of the main resources for selling the dollar at the official price." in the local markets. 

Yesterday, the US Treasury Department imposed sanctions on 14 Iraqi banks in order to remove them from the currency auction platform at the Central Bank, and this is what many consider to be a purely political decision to bring the dollar crisis back to the fore again.

https://almaalomah.me/news/economy/بعد-عقوبات-أمريكا-على-المصارف-الكناني:-الدولار-سيصل-الى-175

Citizens Under Penalty Of Fraud On The "Dollar" Platform

The first 2023/07/18  Baghdad: 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 importing, and may result in legal matters that fall victim to the citizen who needs quite a period 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 outright manipulation by companies and banks that are the only entity 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 sums of money in the names of citizens who have not traveled,"

expressing his astonishment at "the slowness of legal deterrence that makes those concerned face the responsibility of performing their duty."   https://alsabaah.iq/80889-.html

The PM's Advisor Recommends Limiting Price Speculation

Economical 2023/07/17  Baghdad: morning  Yesterday, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, recommended the need to provide a climate of competition to limit exploitation and price speculation.

Saleh said, to the Iraqi News Agency (INA):

"In order to ensure competitiveness in the market and reduce liberal chaos in the exchange sector,

it is necessary to return to the bonds of social market institutions by spreading consumer and production cooperatives that practice competitive price discipline and quality control at the same time," indicating

"They are two pillars that we lack; in order to reorganize the sectors of exchange and production to some extent and to provide a competitive environment and interaction that can isolate methods of fraud and commercial deception that are incorrect and contrary to the law."  He added that

"the methods of circumvention and commercial deception continue to cause severe damage to the interests of the public and exploit them with price speculations and goods and services far from quality control for the sake of illegal gain at the expense of the citizen's limited income,

in addition to the poor quality of the processed goods that are supplied from internationally unknown origins and are not subject to quality or quality control. 

He pointed out that "this is the biggest waste in suppressing the competitiveness of the economy and reducing the consumer's benefit and levels of legal protection in accordance with nationally and internationally accepted standards in trading goods and services within the national market."

https://alsabaah.iq/80755-.html

The Governor Of The Central Bank Urges The Trade Bank Of Iraq To Provide Services With Speed And Accuracy

Economy     Baghdad – conscious  Today, Thursday, the Governor of the Central Bank, Ali Mohsen Al-Alaq, urged the Iraqi Trade Bank to provide services with speed and accuracy.

The media expert of the Iraqi Trade Bank, Aqil Al-Shuwaili, said, in a statement received by the Iraqi News Agency (INA), that

"the President of the Iraqi Trade Bank and Chairman of the Board of Directors, Muhammad Jawad Al-Dulaimi, received in the General Administration Building the Governor of the Central Bank, Ali Mohsen Al-Alaq, and the Director General of the Banking Control Department in The Central Bank, Qasma Saleh Ali, and the Director General of the Investments and Foreign Transfers Department at the Central Bank, Mazen Sabah, in the General Administration building on an inspection visit to the bank. 

He pointed out that "Al-Alaq met with the head of the bank and the staff applying for it, and urged them on the necessity of harmonizing banking plans and directives with the program and objectives of the government and the Central Bank of Iraq." 

Al-Alaq stressed, "the need to provide all services with speed and accuracy to the bank's customers, both individuals and companies, in a way that contributes to encouraging the entry of merchants into the external transfer system, which in turn will lead to achieving stability in the exchange rate in the Iraqi market."

While Al-Dulaimi explained to the Governor of the Central Bank and the staff accompanying him, according to the statement, about his "future practical plans that he set since he assumed the position to upgrade work within the bank in a way that supports and enhances the country's economy and in line with the directions of the Iraqi government."   https://www.ina.iq/189775--.html

The Central Bank Issues A Statement Regarding The Deprivation Of Some Iraqi Banks From Dealing In Dollars

Economy     Today, Baghdad – conscious  Today, Thursday, the Central Bank of Iraq issued a statement regarding the deprivation of some Iraqi banks from dealing in dollars, while noting that these banks do not constitute requests for only 8% of the total external transfers.

And the Central Bank of Iraq stated, in a statement received by the Iraqi News Agency (INA), that

“against the background of recent media news, the Central Bank of Iraq issued a statement regarding depriving some Iraqi banks from dealing in dollars,” noting that

“preventing Iraqi banks from dealing in dollars came against the background of scrutiny.” Bank transfers for the past year (2022), before the application of the electronic platform, and before the formation of the current government as well. 

He added,  "Banks deprived of dealing in US dollars enjoy complete freedom in dealing in Iraqi dinars with various services within the Iraqi banking system, in addition to their right to international dealings in currencies other than the US dollar," noting that "the application of the electronic platform for external transfer ensures the safety of transfer transactions."

And its accuracy in all aspects, in accordance with international standards and practices, and the law against money laundering and terrorist financing, as the US Federal Bank, the US Treasury Department, and international financial institutions praised this system, and it enjoys their care, with high coordination from those parties, and with an accredited international auditor.

 And he continued, "What the Central Bank of Iraq has achieved in terms of expanding transfer channels and approved correspondent banks, makes transfer operations available and secure," noting that

"the number of local banks that do this is able to cover all transfer requests, with the ability of the Central Bank of Iraq to cover them without restrictions or restrictions." Ceilings, as long as they involve legitimate operations, bearing in mind that the banks banned from the dollar, their requests constitute only 8% of the total external transfers. 

He explained that "the announced exchange rate in the market is based on the cash dollar granted by the Central Bank of Iraq to cover citizens' requests for travel and others, and

because of the citizen's need for the national currency, some merchants and others withdraw dollars for trade or other purposes, away from the platform and away from the fundamentalist transfer contexts."

Which leads to an increase in the exchange rate on the black market, which is not a parallel market, as long as the source of the dollar is the central bank and not from within the market.

The Central Bank called, according to the statement, “the government, in order to address this phenomenon, to establish a mechanism to link imports, and what proves the existence of a fundamental financial transfer corresponding to its value in order to prevent the use of illegal means to pay its values that constitute unjustified pressure on the cash dollar, and helps on the other hand in controlling Manipulation and smuggling of imports.

https://www.ina.iq/189786--.html

Experts: The Path Of Development Is Stimulating And Attractive To Global Investment Companies

Economical 2023/07/18  Baghdad: Shukran Al-Fatlawi  Experts and interested parties unanimously agree that the completion of the initial stages of the development road, which is being worked on in its first section, which extends from the city of Al-Faw in Basra to the city of Nasiriyah, represents a catalyst and an important initial step that will be followed by subsequent stages to transfer the country's economy to a new and diversified stage.

And sustainable, stressing the importance of that path in attracting international investment companies operating in various fields.

Iraq announced a land and railway project connecting the Gulf to the Turkish border, through which it aspires to be a main route for transporting goods between the Middle East and Europe, while

a spokesman for the Ministry of Transport, Shatha Radi, confirmed to the Iraqi News Agency (INA), that

"the steps The first to complete the development path has actually started, and a headquarters for the project has been established at the global station of the General Company for Iraqi Railways.

And the Prime Minister, Muhammad Shayaa Al-Sudani, stressed that "the government is moving towards the completion of the development path project, as it includes large economic revenues for Iraq, and the creation of job opportunities and sustainable development, whose benefits extend throughout the region, in a way that enhances facing regional and international economic challenges."

Economist Dr. Nabil Al-Marsoumi considered, in an interview with Al-Sabah, the development path as a catalyst for Arab and foreign companies to enter into large investments in this vital project if its prepared stages are completed and its basic pillars are implemented. 

Al-Marsoumi added that the road extends for more than 1,200 kilometers and connects Al-Faw with Faysh Khabour, Turkey, and then to Europe, at a cost of "phase one" of $17 billion, spanning five years with two land lines, one for trucks and the other for railways to transport goods and passengers. 

Al-Marsoumi indicated that the road is still in the preliminary design stages, as the Railways Directorate in Iraq received the designs of the first section, which extends from Al-Faw to Al-Nasiriyah, pointing out that there are teams working along the road extending from Al-Faw to the Turkish Fishkhabour, with soil investigations, as it will link the east with the west of Through Iraq, to become an important commercial link,

to be followed by subsequent stages by establishing cities, industrial and commercial complexes, and electric power stations on both sides of the road.

This will be completed in the second and third stages, which extend until 2050.

Emad Al-Muhammadawi, who is interested in economic affairs, explained to “Al-Sabah” that

the development road, which the concerned companies have finished preparing for implementation, will contribute to transforming the country’s rentier and oil-dependent economy into a diversified economy full of investment projects, in addition to the eagerness of many countries in the world to enter in all fields,

hoping To start working on it on the ground, to complete the preparation stage, and to take the necessary measures in this regard. 

A spokesman for the Iraqi government, Basem Al-Awadi, confirmed that Turkish President Recep Tayyip Erdogan is enthusiastic about the development road project, and neither Ankara nor any country imposed conditions for entering it, pointing to the completion of the design of the first section of the land road.

 Al-Awadi revealed,  The signing of the land road and railway design contract between the Ministry of Transport and the Italian consulting company has reached its final stages, and the company has completed the design of the first section of the land road that extends from the city of Al-Faw in Basra to the city of Nasiriyah, and work is in progress to sign the final contract with the company." 

He stressed, "The arrival of dozens of bids from local and foreign companies and countries that have expressed their desire to participate in the implementation of the development path, and the Supreme Committee supervising this project will take important initial decisions this week."

https://alsabaah.iq/80877-.html

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

Bond Ladys Corner

Iraqi "Unrest" News and more posted by Clare at KTFA 7-20-2023

KTFA:

Clare:  The Central Bank issues two decisions to support the dinar against the dollar

7/20/2023

  The Central Bank of Iraq announced, today, Thursday, that it had taken "two urgent decisions" to enhance the ability of the Iraqi dinar in front of foreign currencies to circulate within the country.

And the Central Bank media stated in a statement received by {Euphrates News} that "the collection of all cash insurances shall be in the dinar currency exclusively with regard to internal credits, bank guarantees, and letters of guarantee issued in favor of the beneficiaries (governmental and private), even if they are in the dollar currency and at the official exchange rate." 

He added, "It was decided that the payment of the sums of the letters of guarantee upon confiscation be exclusively in the Iraqi dinar and at the official exchange rate." 

The Iraqi Central Bank called, according to the statement, "all licensed banks to take the necessary measures in accordance with the above."   LINK

Clare:  Iraq cuts diplomatic relations with Sweden

7/20/2023

The Iraqi government decided, on Thursday, to withdraw its Chargé d'Affaires in Stockholm, and expel the Swedish ambassador from the country's lands, in protest against allowing a demonstration in which the Qur'an was torn and burned for the second time.

The government spokesman, Basem Al-Awadi, said in a statement today that the Prime Minister, Muhammad Shia'a Al-Sudani, directed the Ministry of Foreign Affairs to withdraw the Iraqi Chargé d'Affairs from the Embassy of the Republic of Iraq in the Swedish capital, Stockholm. 

He also directed a request from the Swedish ambassador in Baghdad to leave Iraqi territory, in response to the repeated permission of the Swedish government to burn the Noble Qur’an, insult Islamic sanctities and burn the Iraqi flag, according to Al-Awadi.    LINK

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Clare:  Al-Sadr's supporters burn the Swedish embassy.. The Foreign Ministry denounces and Stockholm holds the Iraqi authorities responsible

7/19/2023

The Swedish embassy in Baghdad was set on fire at dawn, Thursday, during a demonstration organized by supporters of the leader of the Sadrist movement, Muqtada al-Sadr, on the eve of a gathering in Sweden in front of the Iraqi embassy whose organization intends to burn a copy of the Quran.

The attack on the Swedish embassy in Baghdad came after the Swedish police allowed the organization of a small gathering in front of the Iraqi embassy in Stockholm, where the organizer intends to burn a copy of the Koran and the Iraqi flag on Thursday.

For its part, the Iraqi Ministry of Foreign Affairs condemned in a statement "in the strongest terms" the burning of the Embassy of the Kingdom of Sweden in Baghdad, calling for the launch of an "urgent investigation" into the incident.

The statement stated that "the Iraqi government instructed the competent security authorities to conduct an urgent investigation and take the necessary security measures with the aim of uncovering the circumstances of the incident and identifying the perpetrators of this act and holding them accountable according to the law."

And Silwan Momica, who wants to burn the Qur’an in Sweden today, Thursday, is an Iraqi refugee there, and on June 28 he also burned pages of a copy of the Qur’an in front of the largest mosque in Stockholm on Eid al-Adha.

In response to the storming of its embassy, ​​the Swedish Foreign Ministry said: We condemn all attacks on diplomats and staff of international organizations. All employees of our embassy in Baghdad are safe and the ministry is in regular contact with them.

She added that the attacks on embassies and diplomats constitute a serious violation of the Vienna Convention, and the Iraqi authorities bear the responsibility to protect diplomatic missions and their personnel.   LINK

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Clare:  Iraq.. The Communications and Media Commission suspends the license of the Swedish Ericsson Telecom Company

7/20/2023

Baghdad - 

Today, Thursday, the Iraqi Media and Communications Authority announced the suspension of the license to operate the Swedish company Ericsson for communications in Iraqi territory.

The commission said in a statement, which Mawazine News received a copy of, that "the head of the Media and Communications Commission, Ali al-Moayyed, suspended the license to operate the Swedish Ericsson Telecom Company in Iraqi territory because its country allowed the burning of the Holy Qur'an and the Iraqi flag."

The media office of the prime minister announced in a statement that the latter "directs the Ministry of Foreign Affairs to withdraw the Iraqi Chargé d'Affaires from the Embassy of the Republic of Iraq in the Swedish capital, Stockholm. He also instructed the Swedish ambassador in Baghdad to leave Iraqi territory, in response to the repeated permission of the Swedish government to burn the Holy Qur'an, insult Islamic sanctities, and burn the Iraqi flag."

Earlier, Al-Sudani chaired an emergency meeting against the background of granting the Swedish government a license to burn the Qur’an, and the incident of burning the Swedish embassy in Baghdad.

The Swedish authorities summoned the Iraqi charge d'affairs in the country, following the burning of its embassy in Baghdad, in protest against Sweden's granting of approval to burn the Qur'an in front of the Iraqi embassy in Stockholm.   LINK

Clare:  After the US sanctions... Exchange company guards shoot journalists in central Baghdad

7/20/2023

The Journalistic Freedoms Observatory reported, on Thursday, that the guards of an exchange company shot two journalists in the center of the capital, Baghdad, wounding one of them and detaining his brother, after a US decision to impose sanctions on Iraqi banks.

The Observatory said, in a statement received by Shafaq News Agency, that the security forces of an exchange company opened fire on journalists in central Baghdad today, Thursday, during a live broadcast of Iraq 24 channel, which is specialized in economic affairs.

The observatory quoted Hassan Nabil, the channel's correspondent, as saying that the staff of Iraq 24 channel in Baghdad were subjected to beatings and gunshots by the protection of Al-Taif Exchange Company during live coverage in front of the company's building in Karrada, after the issuance of US sanctions against 14 Iraqi banks, including Al-Taif Bank.

Nabil added that he was detained inside the bank before being transferred to Al-Masbah police station, in addition to his brother Musa Nabil being shot in the hand when he was trying to protect him from the assault of the company's security personnel, and the photographer, Hassan Nabil, had bruises in parts of his body.

Nabil told Al-Marsad that he is currently at Al-Masbah police station in the capital to file a lawsuit against the bank's management.

This comes at a time when the Iraqi Observatory for Journalistic Freedoms had called on the security services to stop using violence against journalists and avoid arbitrarily arresting and detaining them on charges of "forbidden photography" despite having identity cards.    LINK

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Clare:  It has been suspended for more than 10 years.. Parliament announces the activation of the Article 140 Committee, according to a political agreement

7/20/2023

Today, Thursday (July 20, 2023), the Second Deputy Speaker of the House of Representatives, Shakhwan Abdullah, announced the reactivation of the temporary committee formed in the House of Representatives to follow up the work of the Article 140 Committee of the Constitution, while pointing out that this committee has been suspended for more than 10 years.

Abdullah said in a press conference held with the participation of members of Parliamentary Committee 140, followed by "Baghdad Today", that "the temporary committee formed in the House of Representatives to follow up on the work of the Article 140 Committee of the Constitution, which has been suspended for more than 10 years, was activated after the agreement of the political blocs and support for the activation of this article."

He added, "There are thousands of transactions from those affected by the policies of the defunct regime within the framework of Article 140. We noticed through representatives of the governorates that there are many files, and the truth is that the amount allocated for compensation by the government in the 2023 budget is a very small amount."

And Abdullah continued, "The committee needs to complete its tasks to four trillion. Only 100 billion dinars have been allocated, and after efforts, another 100 billion were transferred to become the amount of 200 billion. This amount needs to be organized for how compensation reaches those included in the article. A mechanism has been established for the work of the committee, and there are regular weekly meetings for the work of Committee 140 to push for its real activation and completion of its tasks."

And he pointed out, "One of the tasks of the committee is also the necessary legislation and the abolition of the decisions of the Revolutionary Command Council that are unfair to the rights of the people of many provinces."

Abdullah concluded, "We thank the efforts of the government that voted on a draft law to cancel the decisions of the Revolutionary Command Council. The committee will have its first tasks to seek to receive the draft law from the government and approve it to ensure the restoration of farmers' rights. There will be a mechanism in cooperation with the government committee to reach citizens' dues in all governorates because there are southern governorates that did not receive compensation in addition to the governorates of Kirkuk, Diyala and Nineveh."

Yesterday, Wednesday (July 19, 2023), the former deputy of the Patriotic Union of Kurdistan, Hassan Ali, criticized the exploitation of the problems of "Article 140" as the elections approached. Stressing that its solution "lies only through the constitution."

In an exclusive interview with "Baghdad Today," Alli seemed surprised by "exploiting the problems of the politically disputed regions with the approach of each new election cycle," considering that "delaying the implementation of the article does not mean at all that it has ended in a constitutional article."

The aforementioned constitutional article does not fall away with time, according to the Kurdish MP. Which confirms that "these areas must be private by the federal government."

The speaker acknowledges the continuation of the problems of the disputed areas, and links their solution exclusively to the "constitution," noting that "the mobilization of politicians will continue with every electoral process."

Yesterday, Wednesday (July 19, 2023), he announced the formation of a political alliance that includes 13 Kurdish parties to participate in the provincial elections in the disputed areas, without including the Kurdistan Democratic Party and the Kurdistan Islamic Union.  LINK

Goldilocks' Comments and Global Economic News for July 20, 2023

Goldilocks' Comments and Global Economic News for July 20, 2023

RJ: Good afternoon Dinar Recaps,

Goldilocks posted comments and links on global economics:

ISO 20022.... LET'S DO IT
💥🚨🚨🚨🚨ALERT: THE FEDERAL RESERVE OF THE UNITED STATES COULD LAUNCH ITS FEDNOW REAL-TIME PAYMENTS SERVICE AS EARLY AS TOMORROW🚨🚨🚨🚨💥

https://twitter.com/Rohitku24694375/status/1681748355519750145?t=96ss_RgNy63KCmNnXSCuZw&s=35

Iraq is in the process of creating an electronic mechanism that would force the sale of the Iraqi dinar inside the bank system and away from external markets putting pressure on their National Currency to rise outside of their control.

Banks in Iraq who achieve this benchmark will be given preferential treatment inside the Foreign Currency Market.

These banks will be given an opportunity to experience more inflows from Governmental funds to help them achieve this goal.

Once this goal is reached, Iraq will be able to formulate a real value for their currency going forward.

© Goldilocks

https://cbi.iq/news/view/2386

~~~~~~~~~~

The BRICS Nations have been buying massive amounts of gold. This expands the net worth of their currencies as an alternative monetary holding.

This puts more pressure on mining companies around the world to accelerate in their ability to function as an alternative source of income available to the world.

If they are successful in creating these new functions for gold, gold will be seen as an alternative Global Currency.

These new demands would increase the value of gold as well as force a repricing event in Gold we are looking for to liquidate our Global economies.

This repricing event would affect our digital, as well as, paper currencies around the world and give companies more money flow to grow their business ventures.

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

© Goldilocks

https://www.investorsobserver.com/news/qm-news/6770921998548598

~~~~~~~~~~

Institutional money is beginning to flow into the crypto space. Companies like BlackRock, Rothschild, Vanguard, and Franklin Templeton have and are beginning to liquidate the digital markets.

These Big Players are capable of moving a market forward, and their visions for a digital economy have placed them into a position that carves out a pathway for their companies to thrive inside a new economic environment.

As we have already pointed out in a previous article, the inclusion of crypto, gold, and the dollar are rapidly becoming inseparable forces of nature that cannot be stopped.

© Goldilocks

https://www.blockworks.co/news/inflows-crypto-products-highest-since-2021

~~~~~~~~~~

Chainlink Launches Cross-Chain Protocol to Bridge Blockchains With Traditional Capital Markets"

New digital protocols allowing crypto networks to cross over into Traditional Capital Markets are forming Bridges between money and the marketplace.

This is why I keep sharing with you that digital-assets, gold, and money will operate as one entity going forward through smart contracts and artificial intelligence.

The tokenization of commodities and assets gives a real value to prices that will secure monetary valuations moving them inside an economy.

This makes a Global Currency Reset more than a possibility. It is inevitable.

As each country formulates digital monetary policies that will meet with recommendations from the G20 meeting in September for the Global Economy, we are being positioned for a standardized process that can give us a path forward.

© Goldilocks

https://decrypt.co/148929/chainlink-ccip-cross-chain-protocol-public-blockchains-capital-markets

~~~~~~~~~~

☝️The above process will not take long in a small country like Iraq, and once they have a real value in the microcosm they can take it to the macrocosm.

Currently, they have been using a programmed rate for "in country." The next step for them in determining a real rate for their country is what they are doing right now.

It will lead to the project of deleting the three zeros.

Population of Iraq: 43.53 million (2021)

© Goldilock

~~~~~~~~~~

Twenty-two nations have formally applied to become members of the BRICS economic bloc.

The list is growing by the day.

Read: https://twitter.com/goldtelegraph_/status/1681956531980455936?s=46

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Awake-In-3D: RFK Jr. Wants to Back the Dollar with Hard Assets – A GCR/NESARA White Hat?

Awake-In-3D: 

RFK Jr. Wants to Back the Dollar with Hard Assets – A GCR/NESARA White Hat?

On July 20, 2023 By Awake-In-3D

In RV/GCR Articles

In a groundbreaking announcement that has sent shockwaves through the financial world, RFK Jr. has revealed his bold plan to support returning the US Dollar to an asset-backed currency. Drawing inspiration from his late uncle, President John F. Kennedy, RFK Jr. envisions a future where hard assets, including Bitcoin, gold, silver, and platinum, will back a portion of the country’s debt obligations.

This visionary move aims to rein in inflation, restore strength to the dollar, and challenge the corrupt fiat currency system controlled by “Banksters” and Global Elitists. Additionally, Kennedy has promised to exempt Bitcoin-to-dollar conversions from capital gains taxes, fostering innovation, ensuring privacy, and encouraging domestic investment. Is RFK Jr. the champion who will lead the charge towards a Global Currency Reset (GCR) when the time comes?

The Importance of Hard Currency and Lessons from History

“My uncle, President Kennedy, when he was in office, understood the importance of hard currency and the dangers of having pure fiat currency with no other option,” asserted RFK Jr. In drawing parallels with his uncle’s legacy, he recognized that fiat currency, detached from any tangible backing, can lead to disastrous consequences. Historically, unbacked paper currencies have been used to fund wars without requiring the approval of citizens or specific government taxation. The ease with which governments can print money to finance conflicts and quietly tax the public through inflation has perpetuated a cycle of economic imbalance and wealth disparity.

JFK Jr.’s Proposal: A Hard Asset-Backed Dollar

In a bold and strategic move, RFK Jr. proposes to start small, with perhaps 1% of issued Treasury bills backed by hard assets like gold, silver, platinum, and Bitcoin. This allocation would be increased annually based on the outcomes of the initial phase. The intention behind this visionary policy is to strengthen the US dollar by tethering it to finite assets with intrinsic value, like Bitcoin, which holds a reputation for absolute scarcity and sound monetary principles. The idea is to restore confidence in the dollar and usher in a new era of financial stability, peace, and prosperity.

Bitcoin as a Catalyst for Change

RFK Jr.’s enthusiasm for Bitcoin extends beyond its role as a hard asset for backing the dollar. He envisions Bitcoin as an instrument for change and progress, defending its right to self-custody, the freedom to run nodes at home, and advocating for industry-neutral regulation of energy. By exempting Bitcoin-to-dollar conversions from capital gains taxes, RFK Jr. aims to incentivize investments and technological ventures within the United States. Furthermore, he believes that such a policy will safeguard citizens’ privacy and obstruct governments from weaponizing currency against free speech, a core objective close to his heart.

Challenging the Current Regulatory Landscape

In opposition to the prevailing regulatory environment, RFK Jr. adamantly declares that Bitcoin is not a security and should not be treated as one. He promises to end the Biden administration’s policies that resemble Choke Point 2.0, which punishes banks dealing with Bitcoin. By taking this stance, RFK Jr. aims to create a supportive atmosphere for the adoption and development of Bitcoin and blockchain technologies in the United States.

Facing the Debt Crisis: The Road to Fiscal Stability

RFK Jr.’s visionary proposals come at a crucial time in American history. With the national debt steadily growing at 6.5% over the past decade, the need for comprehensive fiscal strategies is more urgent than ever. His plan to acquire hard assets like Bitcoin and precious metals offers an insurance policy against mounting debt and potential economic crises. This forward-looking approach seeks to secure the nation’s fiscal future and attract intellectual capital to US shores.

The Paradigm Shift: Bitcoin as a Policy Tool

RFK Jr.’s unwavering support for Bitcoin marks a paradigm shift in the political landscape. Beyond being viewed solely as an asset, he recognizes Bitcoin’s potential as a powerful policy tool. By backing the dollar with Bitcoin and other hard assets, RFK Jr. aims to challenge the current fiat currency system controlled by corrupt “Banksters” and Global Elitists. His proposal seeks to provide a strong foundation for the US dollar, ensuring its stability and credibility in the global financial market.

What it Means

RFK Jr.’s visionary plan to back the US dollar with hard assets like Bitcoin reflects a deep understanding of the pitfalls of a fiat currency system. Inspired by his uncle’s legacy, RFK Jr. aims to restore strength to the dollar, rein in inflation, and promote American financial stability, peace, and prosperity. By fostering Bitcoin adoption and encouraging domestic investment, he envisions a future where the US leads in technological advancements and intellectual capital. As the world faces economic uncertainties, RFK Jr.’s proposals provide a beacon of hope, offering a way to navigate the challenges of a debt-ridden financial system and champion a sustainable and prosperous future for the nation. The question remains: Will RFK Jr. be ready to lead the charge when the time for the Global Currency Reset arrives? Only time will tell.

Ai3D Website: Ai3D.blog
Ai3D on Telegram: GCR_RealTimeNews
Ai3D on Twitter: @Real_AwakeIn3D

https://ai3d.blog/rfk-jr-wants-to-back-the-dollar-with-hard-assets-a-gcr-nesara-white-hat/