Goldilocks' Comments and Global Economic News for Saturday Sept 9th

Goldilocks' Comments and Global Economic News for Saturday Sept 9th

Good afternoon Dinar Recaps,

China's COMING COLLAPSE!! Most Troubling Signs Yet!!

https://youtu.be/kk11VlHE-Ak?feature=shared
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"The IMF and FSB have released a joint synthesis paper containing its policy recommendations for crypto assets. At the request of the G20, the International Monetary Fund (IMF) and Financial Stability Board (FSB) released a joint white paper publishing the IMF’s and the FSB’s recommendations and standards for crypto policy."

A white paper is a comprehensive report on a particular topic that presents a problem and creates a solution. White papers are created to educate their Market audience about new procedures that will be put into place going forward.

In other words, the movement into the new digital economy has reached a stage of implementation. Some digital networks are further along than others and their ability to mobilize and take advantage of our new digital asset-based economy will be available to them.

Some countries are more advanced and interfacing their digital networks already, and we will see movements in their economy never seen before.

These changes will affect our markets and our banking system. Volatility is expected and the rising and falling of companies will be determined by each one's preparedness for this moment in history.

© Goldilocks

https://cryptodaily.co.uk/2023/09/imf-fsb-release-synthesis-paper-policies-for-crypto-assets

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👆 If you are a crypto holder, you will want to read this white paper. This is a historical moment, and knowing the details of this white paper will be important.

The importance of knowing and understanding this particular white paper and article that I will not be posting the rest of the day unless it is vitally important.

© Goldilocks

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JackTheRippler ©️ on X

BREAKING: #G20Summit2023... UAE, Saudi, India and US to announce joint shipping, railway deal!

https://twitter.com/RippleXrpie/status/1700524736055238704?t=O3MoLYHXBs2RkEkixs-Cog&s=35

👆 Watch the water.

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Bank Lending is Drying Up, Leading to Recession

https://youtu.be/iRzhPE6k11I?feature=shared

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Thank you Dinar Recaps

Iraqi Economic News & Points to Ponder Sat PM 9-5-23

Iraqi Economic News & Points to Ponder Sat PM 9-5-23

Tlm724 Administrator Bondlady’s Corner

An Economic Specialist For Nina: An Increase In The Monetary Supply Without Growth In The Economic Base Constitutes A Weakness In The Local Currency

Saturday 09, September 2023 11:03 | Economical Number of readings: 434  Baghdad / NINA / The specialist in economic affairs, Durgham Muhammad Ali, confirmed: “An increase in the monetary mass without growth in the economic base constitutes a weakness of the local currency,” indicating: “The monetary mass of the local currency amounted to 116 trillion dinars.”

Muhammad Ali said in a statement to the National Iraqi News Agency ( NINA ) that, “There is no actual development of the Iraqi economy and that growth is the result of relatively improved oil prices, which is an unguaranteed issue, so the central bank has limits on the size of the local monetary mass that must be adhered to.”

 Stating: “What frightens economists is that there will be printing of the local currency with the same specifications outside the framework of the Central Bank to purchase cash dollars, and this is something that the state is closely following up to prevent it from happening.”

He explained that "the bank's monitoring of the rise in the monetary supply makes the equation accurate to maintain the actual strength of the Iraqi dinar, and that the central bank has accurate calculations of currency reserves as a cover for the local currency."

Advisor to the Prime Minister, Mohamed Al-Najjar, revealed that the monetary mass of the local currency has reached 116 trillion dinars, indicating that initiatives to expand electronic payment are consistent with the government’s directions.

Al-Najjar said, “Electronic payment is an important axis for developing the Iraqi financial sector and moving it to an advanced stage in the country’s monetary policy,” noting that “the size of the Iraqi monetary mass amounts to 116 trillion dinars, of which 30-40 trillion dinars are circulating within the banking system.”/ End 8   https://ninanews.com/Website/News/Details?Key=1076406

Sudanese Advisor: The Size Of The Monetary Supply Reached 116 Trillion Dinars

Economy | 10:23 - 09/09/2023  Baghdad - Mawazine News  Advisor to the Prime Minister, Muhammad Al-Najjar, revealed that the monetary mass of the local currency has reached the barrier of 116 trillion dinars, indicating that initiatives to expand electronic payment are consistent with the government’s directions.

Al-Najjar said, “Electronic payment is an important axis for developing the Iraqi financial sector and moving it to an advanced stage in the country’s monetary policy,” noting that “the size of the Iraqi monetary mass amounts to 116 trillion dinars, of which 30-40 trillion dinars are circulating within the banking system.”

He added, "The campaign to encourage electronic payment is in harmony with the directives of Prime Minister Muhammad Shiaa Al-Sudani to achieve safe financial transactions, and with the aim of achieving a great benefit for citizens, as electronic payment represents an important stage whose benefits everyone must realize."  https://www.mawazin.net/Details.aspx?jimare=234646

Parliamentary Meeting With The Minister Of Finance About Automating Customs Revenues

Saturday 09, September 2023 13:19 | Economical  Number of readings: 357  Baghdad / NINA / Today, Saturday, the Parliamentary Finance Committee held a joint meeting with the Minister of Finance, Taif Sami, to discuss the automation of customs revenues at all official border ports, including the ports in the governorates of the Kurdistan Region.  https://ninanews.com/Website/News/Details?key=1076448

The dollar stabilizes on the rise in the local market

Economy  Saturday, September 9, 2023   Baghdad/National News Center  Today, Saturday, dollar prices witnessed stability against the Iraqi dinar in the markets of the capital, Baghdad.   The prices were as follows: 

The selling price was 155,000 Iraqi dinars, while the purchasing price was 153,000 dinars for every 100 dollars.   https://nnciraq.com/225870/

Sudanese Advisor: High Oil Prices Reduce The Budget Deficit 

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Saturday, that the rise in oil asset cycle prices reduces the hypothetical deficit gap in the federal general budget.

Saleh said, “The oil markets indicate a significant increase in the prices of the cycle of oil assets. Brent crude oil has exceeded the barrier of $90 per barrel, which has a positive impact on reducing the hypothetical deficit gap in the federal general budget (which is the budget approved under Law No. 13 of 2013).” Its estimates amount to about 64 trillion dinars as an average deficit in the fiscal years 2023, 2024 and 2025, which was adopted as a preventive financial buffer to confront fluctuations in oil prices and demand surprises in energy markets.

He added, “What matters is that the average prices of exported oil during the fiscal year exceed the default price approved by the budget for a barrel of Iraqi exported oil, amounting to 70 US dollars. Therefore, any sales exceeding the above-mentioned default price will undoubtedly lead to reducing the gap in the hypothetical deficit and in a clear inverse relationship.”

He continued: “We believe that the budget for the next two years will maintain its constants and its preventive and precautionary measures regarding the development of prices in the oil markets and its relationship to the hypothetical deficit, especially for the fiscal year 2024, as the northern hemisphere is facing a high demand to build stocks facing the winter, and the indicators of war in “Ukraine indicates its continuation, and that the OPEC Plus group is also continuing the policy of limiting the quantities produced to maintain prices for exported oil that are commensurate with the stability of the revenues of its countries’ financial budgets.”  https://www.radionawa.com/all-detail.aspx?jimare=35621

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

https://www.bondladyscorner.com/

Points to Ponder About Facts:

Count Hermann Keyserling once said truly that the greatest American superstition was belief in facts.   John Gunther (1901 - 1970)

Let us take things as we find them: let us not attempt to distort them into what they are not. We cannot make facts. All our wishing cannot change them. We must use them   John Henry Cardinal Newman (1801 - 1890)

Get your facts first, and then you can distort them as much as you please. Mark Twain (1835 - 1910)

He is indebted to his memory for his jests and to his imagination for his facts. Richard Brinsley Sheridan (1751 - 1816)

Facts are stupid things.  Ronald Reagan (1911 - 2004)

The trouble with facts is that there are so many of them.  Samuel McChord Crothers, The Gentle Reader

World Bank and The IMF (International Monetary Fund) Explained

World Bank and The IMF (International Monetary Fund) Explained

Taylor Kenny:  9-8-2023

Taylor Kenney from ITM Trading takes you on a journey through the history and roles of the International Monetary Fund (IMF) and the World Bank.

 Discover how these influential organizations were created in response to post-war economic uncertainties and how their functions have evolved over time.

Learn about their impact on the global economy and why they remain topics of controversy.

CHAPTERS:

0:00 IMF and World Bank

0:39 Bretton Woods Conference

2:53 World Bank Group

 4:25 US Gold Reserves

5:16 Who is Funding Them?

6:41 Proponents and Opponents

 8:17 Argentina’s Economic Crisis

10:39 SDR’s

https://www.youtube.com/watch?v=E920L4R9GXE

"Tidbits From TNT" Saturday 9-9-2023

TNT:

CandyKisses:  The G20 summit begins in New Delhi

Information / Baghdad..

Today, Saturday, the G20 summit kicked off in the Indian capital, New Delhi.

Indian Prime Minister Narendra Modi said at the opening of the summit that "the world is suffering from a massive crisis of confidence due to the war," pointing out that "it is possible to overcome the crisis of mutual trust."

Modi called on the African Union to "join the G20."

Modi said in his opening speech, "With everyone's agreement, I ask the President of the African Union to take his place as a permanent member of the G20."

CandyKisses:  Finance is ready to implement the budget law and grant 50% of the outlets’ revenues to Kurdistan

Shafaq News / Finance Minister Tayf Sami said on Saturday that there is no consensus between the Federal Border Ports Authority and the Kurdistan Region on the unification of the pricing of customs duties.

Sami was speaking during her hosting by the Parliamentary Finance Committee in the Iraqi parliament and was attended by a correspondent of Shafaq News Agency.

Our correspondent quoted Sami as saying, "There is no consensus in customs between the federal border crossings and the Kurdistan region, considering that the customs duties in the region are lower than other ports in Iraq, and a good example of this is the entry of cigarettes through the region," she claimed.

She stressed that "zero' control must be restored, not only in one location, but in different locations with reduced customs duties in order to reduce smuggling operations."

The minister expressed her readiness to apply the text of the country's financial budget law, and that 50% of the revenues of the official border ports will be the share of the provinces in the Kurdistan region," noting that: There are 5 unofficial border ports in the region.

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Tishwash:  Concerning the dollar.. America continues to blackmail and central procedures are air in a net!

After several months have passed since the government and the central bank attempted to control the rise in dollar exchange rates, the official and parallel rate gap continues, given the schemes that Washington is pushing to pass its own interests.

As for government measures and the central bank, they are still mere notifications and decisions that do not fatten or satisfy hunger, especially since they did not stand up to the decisions of the United States of America that push to fabricate crises and not find solutions.

Washington control!

Speaking about this file, Member of Parliament Suhaila Al-Sultani accuses the United States of controlling the file of dollar exchange rates in the local markets so far, while she confirmed that the beneficiaries and speculators support the continuity of the current dollar crisis.

Al-Sultani says, in a press interview seen by Taqaddam, that “there are many parties that support destabilizing the economic situation in order to influence the workflow of the current government,” noting that “the application of the budget in the ministries and governorates will not lead to a reduction in the exchange rates of the dollar in the local markets.” ".

And she continues, “America continues to control the file of dollar exchange rates in the local markets until now,” adding that “the United States of America controls the dollar paper in order to subject the Iraqi economy to the decisions and wills that it wants to impose.”

Regarding the internal factors of the dollar crisis, Al-Sultani confirms during her speech: “The beneficiaries and speculators support the continuity of the dollar crisis and the weakening of the value of the Iraqi dinar in order to achieve their personal goal.”

* Blame war!

In addition, a member of Parliament, Thaer al-Jubouri, accuses the United States of America of waging a conspiratorial war to destroy Iraq's economy, while he directed a request to the Iraqi government regarding methods of dealing with Washington during diplomatic meetings.

Al-Jubouri said, in a press interview seen by “Takadum”, that “the Iraqi government, when it talks with the American side within the diplomatic framework, must bear in mind the criterion of strength and try to obtain advanced and modern technological technologies that benefit Iraq.”

And he adds, “America is leading the policy of economic conspiracy during the current period; to destroy the Iraqi currency and the exchange rate,” stressing “the necessity of referring to this war and not leaving it.”

The member of the House of Representatives explains that “the government and the relevant ministries are required to deal as much as they can with America, and that the conversation be diplomatic with distinction,” pointing out that “Washington, despite its geographical distance from Baghdad, is trying to impose its full control over all joints and focus on Important files such as the economy and development.

* Technical procedures?

For his part, the researcher in economic affairs, Muhammad Al-Saadi, pledges control and control of the exchange rate of the dollar in the parallel market by taking practical technical measures without resorting to methods of arrests or the use of force.

Al-Saadi says in a press interview seen by Taqaddam, “The responsible authorities are working to pursue speculators by applying the law against those who want to harm the Iraqi economy, in addition to being a first step to ensuring the elimination of the differences between the official and parallel market.”

He adds, "The need has become urgent to take decisions related to the technical and financial aspects, which would expand the outlets for selling the currency and allow citizens to buy in limited quantities by setting restrictions or preconditions."

And he shows that “the problem of exchange and high prices is often suffered by the citizen before the merchant, as the merchants began to go to the official platform to obtain the dollar, while the citizen is still suffering in obtaining the dollar, especially since some citizens go to car dealerships and face difficulty in buying in the dollar.” . link

Mot: ...oooooh the Irony!!! -- Both of These Showed Up at the Same Time!!!

Iraqi Economic News and Points to Ponder Sat AM 9-9-23

Iraqi Economic News and Points to Ponder Sat AM 9-9-23

Sudanese Advisor: The Rise In Oil Prices Reduces The Gap In The Hypothetical Budget Deficit

What matters is that the average prices of exported oil during the fiscal year exceed that hypothetical price

Zagros TV   Zagros Arabia – Erbil  The financial advisor to the Prime Minister, Mazhar Mohamed Saleh, confirmed today, Saturday (September 9, 2023), that the rise in oil asset cycle prices reduces the hypothetical deficit gap in the federal general budget.

Saleh said in a media interview carried by the official news agency, and followed by Zagros Arabia: “The oil markets indicate a tangible rise in the prices of the cycle of oil assets, as Brent crude oil has exceeded the barrier of $90 per barrel, which has a positive impact on reducing the hypothetical deficit gap in the federal general budget.” (This is the budget approved under Law No. 13 of 2013), estimated at approximately 64 trillion dinars as an average deficit in the fiscal years 2023, 2024 and 2025, which was adopted as a preventive financial buffer to confront fluctuations in oil prices and demand surprises in energy markets.

He added, "What matters is that the average prices of exported oil during the fiscal year exceed the default price approved by the budget for a barrel of Iraqi exported oil, amounting to 70 US dollars.

Therefore, any sales exceeding the aforementioned default price will undoubtedly lead to reducing the gap in the hypothetical deficit and in a clear inverse relationship." ".

He continued: “We believe that the budget for the next two years will maintain its constants and its preventive and precautionary measures, regarding the development of prices in the oil markets, and the relationship of this to the hypothetical deficit, especially for the fiscal year 2024, as the northern hemisphere is facing high demand to build stocks facing the winter, and indicators

The war in Ukraine indicates its continuation, and that the OPEC Plus group is also continuing the policy of limiting the quantities produced to maintain prices for exported oil that are commensurate with the stability of the revenues of its countries’ financial budgets.”  https://zagrosnews.net/ar/news/46529

Parliamentarian: The Kurdistan Government Is Facing The Largest Economic Crises In The History Of The Region

Politica l | 09/08/2023  Baghdad - Mawazine News  Member of the Oil, Gas and Natural Resources Committee, Ali Shaddad, revealed that the Kurdistan Regional Government is exposed to economic crises that are the largest of their kind in the history of the region.

Shaddad said in a statement, a copy of which was received by Mawazine News, that “the cessation of oil exports through the Turkish Ceyhan port has caused Kurdistan major financial crises as a result of accumulated debts that are difficult for it to pay at the present time.”

He pointed out that "the Kurdish authorities suffered huge losses and incurred large debts to international oil companies."

He explained that "Kurdistan began to throw accusations at the central government and did not reveal to the Kurdish people the truth about the money that the Baghdad government sent to Kurdistan to pay the salaries of employees and establish urban and service projects."

https://www.mawazin.net/Details.aspx?jimare=234634

Turkey "Turns The Tables" On Iraq.. Baghdad Is Demanding More Than $3 Billion In Compensation To Ankara

Politics |Today   Baghdad today - Erbil   Oil expert Kovind Sherwani confirmed today, Saturday (September 9, 2023), that the decision of the International Arbitration Court in Paris obligated Turkey to pay compensation to Iraq with a fine of one billion and 400 million dollars.

Sherwani told "Baghdad Today", "The Turkish government initially announced its commitment to the decision and stopped the export of oil through the Turkish port of Ceyhan, but it issued a statement in which it confirmed that the court's decision included five items in favor of Ankara."

He added, "According to the decision and provisions published by Turkey, there are compensations that Iraq must pay to the Turkish government amounting to more than 950 million dollars."

He pointed out that "all visits by Turkish officials did not lead to an agreement and settlement for the purpose of resuming oil exports," adding, "The cessation causes harm to the three parties, Baghdad, Ankara, and the Kurdistan region."

While Sherwani pointed out that “the issue of the oil dispute will not be resolved through the courts because it will take a long time and we will need money and expenses to be borne by all parties,” he stressed that “the solution is to sit at the negotiating table and solve the crisis radically.” 

The Kurdistan Region oil file was transferred between the Iraqi government and the Turkish government, from the courts of Paris to the courts of the United States of America. Baghdad and Ankara filed lawsuits against each other in American courts.

Iraq demands that Turkey pay a fine of (two billion and 400 million) dollars, for violating the agreement signed with it in 1973. For its part, Turkey has other accounts and is demanding compensation from Baghdad in the amount of (950 million) dollars .

On this basis, the Turkish government filed a lawsuit against the Iraqi government before an American court, demanding that Baghdad pay it compensation amounting to $956 million, refusing to pay any compensation to Iraq .

According to a report by the "Middle East Eye" website, based in the British capital, London, about the problems between Turkey and Iraq regarding the export of Kurdistan region's oil through the port of Ceyhan, the Turkish government filed a lawsuit against the Iraqi government before the District Court of Columbia in the American capital, Washington, according to which it refuses to pay any compensation to Iraq, Baghdad demands compensation amounting to $956 million. 

It is noteworthy that Iraq has not paid part of the fees for transporting oil through Turkish territory since the 1990s. The international arbitration panel set an interest rate on this debt, which increases successively whenever Iraq delays payment .

Turkey says, according to the report, that with the interest rate set by the International Arbitration Tribunal in Paris calculated for the amounts that each of the two countries must pay to the other, the amount that Iraq must pay to it becomes greater than what it must pay to Iraq .

In this regard, the report believes that Iraq will receive compensation amounting to $2.6 billion after calculating interest, while Turkey will receive $3.5 billion, meaning that Ankara will gain $919 million for the difference between the two informants for the period preceding the international arbitration panel’s decision, in addition to $37.7 million. Dollars in interest after the Authority’s decision, bringing the total to $956 million . 

The export of oil from the Kurdistan region through the Turkish port of Ceyhan to abroad was halted on March 25, in response to a decision issued by the international arbitration panel in Paris based on a lawsuit filed by the Iraqi authorities against Turkey.

The report indicated that Iraq did not inform the Turkish authorities of the matter, despite efforts made to discuss how to take action following the International Chamber of Commerce’s decision, a decision that accuses Turkey of violating its agreement with Baghdad and practicing oil trade in isolation from Baghdad and directly with the Kurdistan Regional Government between 2014 and 2018 .

According to the British website, after the Iraqi move, angry Turkish officials promised that Iraq would pay the price for this measure during their private talks, so last August 31, they took a step in this direction and filed a lawsuit in an American court, demanding compensation .

Following the decision of the Arbitration Court in Paris on March 25, Turkey suspended oil exports to the Kurdistan Region, which constitute 0.5% of the world’s total oil exports.

The British website wrote, “Turkey wants Iraq to withdraw the second lawsuit before the Arbitration Court in Paris regarding the period after 2018, in order to reach common ground regarding the court’s decision, as Ankara called on Iraq to find a payment system that satisfies both the governments of Baghdad and Erbil.”    LINK

British Report: Türkiye Is Suing Iraq To Pay Compensation Of About One Billion Dollars Because Of The Region’s Oil

Posted On 09-09-2023 By Sotaliraq    A British report revealed, today, Friday (September 8, 2023), that the Turkish government filed a lawsuit against the Iraqi government before an American court, demanding that Baghdad pay it compensation amounting to $956 million, refusing to pay any compensation to Iraq.

According to a report by the London-based Middle East Eye website, about the problems between Turkey and Iraq regarding the export of Kurdistan region’s oil through the port of Ceyhan, the Turkish government filed a lawsuit before the District Court for the District of Columbia in Washington, DC, against the Iraqi government, demanding that no compensation be paid to Iraq. Rather, Baghdad should pay compensation amounting to $956 million to it.

Turkey says, according to the report, that with the interest rate set by the International Arbitration Tribunal in Paris calculated for the compensation that each of the two countries must pay to the other, the amount that Iraq must pay to it becomes greater than what it must pay to Iraq.

According to the site, Turkey believes that Iraq will receive compensation amounting to $2.6 billion after calculating interest, while Turkey will receive $3.5 billion.

Five months passed on (August 25, 2023), since the export of oil from the Kurdistan and Kirkuk region through the Turkish port of Ceyhan was halted, which came after the decision of the international arbitration panel in Paris, which caused huge losses, amounting according to estimates to 5 billion dollars.

The export of oil from the Kurdistan region through the Turkish port of Ceyhan to abroad was stopped on March 25, in response to a decision issued by the international arbitration panel in Paris based on a lawsuit filed by the Iraqi authorities against Turkey.   LINK

Points to Ponder About Facts: 

If the facts don't fit the theory, change the facts.   Albert Einstein (1879 - 1955), (attributed)

Facts do not cease to exist because they are ignored.  Aldous Huxley (1894 - 1963), "Proper Studies", 1927

Where facts are few, experts are many  Donald R. Gannon

Get the facts, or the facts will get you. And when you get them, get them right, or they will get you wrong.   Dr. Thomas Fuller (1654 - 1734), Gnomologia, 1732

Facts are facts and will not disappear on account of your likes.  Jawaharlal Nehru (1889 - 1964)

Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence. John Adams (1735 - 1826), 'Argument in Defense of the Soldiers in the Boston Massacre Trials,' December 1770

We can have facts without thinking but we cannot have thinking without facts. John Dewey (1859 - 1952)

MilitiaMan : Iraq Dinar - International Exchange Rate - Baghdad & Erbil - "Secrets" - G20

Iraq Dinar - International Exchange Rate - Baghdad & Erbil - "Secrets" - G20

MilitiaMan and Ccrew:  9-8-2023

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

Be sure to listen to full video for all the news.

https://www.youtube.com/watch?v=ROBf0TmPmFk

Goldilocks' Comments and Global Economic News for September 8th

Goldilocks' Comments and Global Economic News for September 8th

Good afternoon Dinar Recaps,

🇲🇽 Russian oil trader expands in Mexico

Lukoil's trading unit Litasco SA is launching operations in Mexico as the oil giant seeks new markets for Russian products under widespread sanctions.

Expansion into Mexico, which is the largest fuel importer in Latin America, will open up a new market for Russian fuel.

Although Mexico has only imported from Russia once since the Ukraine conflict began, Russian supplies are finding their way into other Latin American countries.

Brazil is importing record amounts of diesel fuel from the country. Argentina is also buying naphtha and diesel fuel.

If these efforts succeed, Russia could displace the US from its position as Mexico's primary fuel supplier. The US currently accounts for 90% of Mexico's gasoline and diesel imports.

https://twitter.com/MultiPolarMarkt

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What Is Pi Network? Launch Date & News | CoinCodex
https://coincodex.com/article/32026/pi-network-launch-date/

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🚨 RIPPLE & XRP HUGE MONTH GET READY 🚨 MUST KNOW INFO 🚨 WHY XRP IS A MUST HOLD

https://youtu.be/aqoUKSnbHnw?feature=shared

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"Nobody wanted to start BRICS... this happened because of our weaponization of the U.S. dollar and weaponization of our foreign policy.”

- Robert F. Kennedy Jr

Well said

Read: https://x.com/goldtelegraph_/status/1699991441622081701?s=46

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"Caroline Pham, one of the members of the Commodity Futures Trading Commission (CFTC) is recommending a time-limited CFTC pilot program to support the development of compliant digital asset markets and tokenization.” 

Yes, the G20 recommendations on crypto clarity were due yesterday, and round table discussions began on crypto regulations.

After holding several discussions with the G20 group, Caroline said they should set up a "program for a specific period of time that incorporates many of the components drawn from past pilot programs, including registration and eligibility requirements, financial resources and other conditions, risk management, products and contract terms, and other requirements including disclosures and reporting.”

These monetary policy discussions will give us a groundwork for our new digital asset-based trading system going forward.

It remains uncertain how quickly the implementation of this new crypto clarity takes place due to laws still remaining in Congress needing to be passed.

© Goldilocks

https://www.coindesk.com/policy/2023/09/07/cftc-commissioner-pitches-pilot-program-for-us-crypto-regulation/

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The Bureau of Land Management (BLM) is introducing new oil and gas leasing restrictions that aim to raise royalty rates, tighten cleanup rules, and make it more difficult to nominate parcels for leasing on federal lands. These proposed rules align with the BLM’s efforts to prioritize conservation and recreation alongside extractive industries.

https://www.energyportal.eu/news/new-oil-and-gas-rules-would-raise-blm-royalties-in-colorado-and-across-nation-demand-land-protections/240104/

👆 Oil reforms are still in process...

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The FDIC is currently engaged in new rules and guidance for large Banks.

These rules are focusing on resolution planning points. We are in a period of time we talked about almost 2 years ago.

Look for banking failures that turn into consolidation opportunities for the larger Banks.  

Even though the process has already began for some banks, "the proposed guidance will be published in the Federal Register, with comments due by November 30, 2023."

© Goldilocks

https://www.jdsupra.com/legalnews/fdic-fed-issue-new-rules-and-guidance-4013020/

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Federal Reserve Board - Agencies propose guidance to enhance resolution planning at large banks

Federal Reserve Link

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Remarks of CFTC Commissioner Caroline D. Pham Before the Cato Institute, Staying Ahead of the Curve: Crypto Regulation and Competitiveness | CFTC
https://www.cftc.gov/PressRoom/SpeechesTestimony/opapham9

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Banking Announcement:

Saudi Awwal Bank (SAB) has partnered up with UK fintech Wise to connect its customers with “fast, secure and cost-effective” remittance services.

https://www.fintechfutures.com/2023/09/saudi-awwal-bank-taps-wise-for-international-transfers/

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"The Financial Accounting Standards Board (FASB) is an independent nonprofit organization responsible for establishing accounting and financial reporting standards for companies and nonprofit organizations in the United States, following generally accepted accounting principles (GAAP)."

The FASB is calling for the establishment of real values in the cryptocurrency market.

The U.S. standard-setting organization for accounting is currently insisting that "companies use “fair-value” accounting to report their crypto holdings."

Price changes are coming...

© Goldilocks

https://www.investopedia.com/terms/f/fasb.asp

https://www.regulationasia.com/fasb-votes-to-adopt-new-crypto-accounting-standard/

Coin Desk Link

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Panic Has Begun... The Economic Ninja

https://www.youtube.com/watch?v=eeT5zl5P7HI

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11,000-Year Prison Term for Crypto Exchange Founder!

https://youtu.be/d99dmJqrcwk?feature=shared

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Thank you Dinar Recaps

Iraqi Economic News & Points to Ponder Friday Afternoon 9-8-23

Iraqi Economic News & Points to Ponder Friday Afternoon 9-8-23

Tlm724 Administrator Bondlady’s Corner

Al-Awadi: The Regional Government Did Not Hand Over Oil And Non-Oil Revenues As Required By The Budget Law

Political  | 09/08/2023  Baghdad - Mawazine News  Government spokesman Bassem Al-Awadi confirmed today, Friday, that the federal government has fully implemented its financial obligations towards the Kurdistan region.

Al-Awadi said in a blog post on the “X” platform (formerly Twitter): “The federal government has fully implemented its financial obligations towards the Kurdistan region, and has made great efforts to provide solutions,” noting that “as of the end of June, the funds owed by the region amounted to more than three times as much.” The region’s share, according to the state’s actual spending, while the regional government did not deliver oil and non-oil revenues as required by the Federal Budget Law.”

He added, "Despite the regional government's lack of commitment, the federal government took a decision not to hold Iraqi citizens in the region responsible for non-compliance, and we worked as permitted by law by taking a decision in the Council of Ministers to lend to the region until its financial problems are fundamentally resolved."

Al-Awadi stressed that "the federal government is as keen on the rights of citizens in the Kurdistan region as it is on the rights of citizens in other governorates, and that adherence to federal laws and agreements concluded, under the constitution, is the shortest path to completing financial transfers and enhancing confidence."   https://www.mawazin.net/Details.aspx?jimare=234608

Oil Prices Are Heading Towards Recording Weekly Gains Despite Their Decline

Economy |  09/08/2023  Baghdad - Mawazine News  Oil prices fell today, Friday, in light of concerns about the slowdown in global demand for black gold, but prices are heading towards recording weekly gains after the decisions of Russia and Saudi Arabia.

US crude futures contracts were trading, by 10:01 Moscow time, at $86.45 per barrel, a decrease of 0.48% from the previous closing price.

While global Brent crude futures contracts were trading at $89.64 per barrel, a decrease of 0.31% from the previous settlement price, according to Bloomberg data.

Despite the decline in black gold prices today, they are heading towards recording weekly gains after rising this week above the level of $90 per barrel, which is the highest level since November 2022, and the rise came after Saudi Arabia and Russia extended supply cuts. Ended 29/h

https://www.mawazin.net/Details.aspx?jimare=234602

The federal government says that it has fully implemented its financial obligations towards the Kurdistan Region

money and business  Economy News _ Baghdad  Federal government spokesman Bassem Al-Awadi said on Friday that the government has fully implemented its financial obligations to the Kurdistan Region, adding that the regional government did not deliver oil and non-oil revenues to Baghdad.

Al-Awadi said in a previous post on the “X” Twitter website, “The federal government is as keen on the rights of citizens in the Kurdistan Region as it is on the rights of citizens in other governorates,” adding that “adherence to federal laws and agreements concluded, under the constitution, is the shortest path to completing transfers.” Finance and enhancing confidence.

He also stated, "As the Federal Budget Law required its delivery, despite the regional government's lack of commitment, the federal government took a decision not to hold Iraqi citizens in the region responsible for non-compliance, and we worked as permitted by the law by taking a decision in the Council of Ministers to lend to the region until its financial problems are fundamentally resolved."

Al-Awadi continued by saying, “The federal government has fully implemented its financial obligations towards the Kurdistan Region, and has made great efforts to provide solutions. Until the end of June, the funds owed by the region amounted to more than three times the region’s share, according to the state’s actual spending, while the regional government did not hand over oil revenues.” And non-oil.

The day before yesterday, Wednesday, the Council of Ministers of the Kurdistan Region called on the federal government in Baghdad to disburse the financial entitlements to the region in the amounts included in the budget tables, urging the international community to support the Kurdistan Region in obtaining its constitutional rights and financial entitlements in accordance with the constitution and the signed agreements.

Yesterday, Thursday, the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, described the failure of the federal government in Baghdad to send financial dues to the region, in violation of constitutional agreements.

Barzani wrote, in a blog post on the X website (formerly Twitter), that “Baghdad’s refusal to send our financial dues confirmed in the federal general budget is a violation of constitutional agreements, harms our citizens, and undermines confidence.”

Views 79   09/08/2023 - https://economy-news.net/content.php?id=36202

Parliamentary Committee For / Nina /: Important Laws That Parliament Will Enact During The Upcoming Sessions

Thursday 07, September 2023 | political Number of readings: 409  Baghdad / NINA / The Parliamentary Labor Committee and civil society organizations revealed a package of important laws that will be legislated during the sessions of the current legislative term.

Committee member MP Amir Al-Mamouri stated, in a statement to the National Iraqi News Agency ( NINA ), that “the House of Representatives is committed to legislating important laws during its current legislative term, as the Presidency of Parliament has adopted joint deliberative meetings for the heads of parliamentary blocs and committees, and work is still continuing to advance the legislation of these laws during Next sessions.”

He added, "The laws currently in the custody of the House of Representatives, some of them are proposals prepared by the representatives and others sent by the government for the purpose of legislating them, but there are priorities for presenting these laws, which Parliament is keen to proceed with legislating."

He explained, “The oil and gas legislation, the civil service, and other important laws pertaining to the health, higher education, and service sectors, some of them have been decided, but there are amendments that must be completed before the final vote, and some of those laws are subject to political controversy, as in the “Oil and Gas Law,” where the delay process occurred. It is not within Parliament, but there are political consensuses in the process of preparing to crystallize it, which led to its delay.”/End 5    https://ninanews.com/Website/News/Details?Key=1076072

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

https://www.bondladyscorner.com/

Points to Ponder From Aristotle:

Bring your desires down to your present means. Increase them only when your increased means permit. 

Dignity does not consist in possessing honors, but in deserving them. 

Education is an ornament in prosperity and a refuge in adversity. 

Even when laws have been written down, they ought not always to remain unaltered. 

He who is to be a good ruler must have first been ruled. 

I count him braver who overcomes his desires than him who conquers his enemies; for the hardest victory is over self. 

In a democracy the poor will have more power than the rich, because there are more of them, and the will of the majority is supreme. 

Inferiors revolt in order that they may be equal, and equals that they may be superior. Such is the state of mind which creates revolutions. 

"Tidbits From TNT" Friday 9-8-2023

TNT:

CandyKisses:  Al-Araji confirms that Iraq is proceeding with the implementation of the security agreement with Iran

Baghdad - Iraq Today:

National Security Adviser Qassim al-Araji said that Baghdad is making great efforts to implement the terms of the security agreement with Iran.

In a tweet, Al-Araji stressed his keenness to strengthen relations between the two neighboring countries, in the interest of our two countries and peoples and enhance the security and stability of the region.

In March, a security report was signed between Iraq and Iran, signed on the Iraqi side by National Security Adviser Qassim al-Araji and on behalf of Iran by then-Secretary of the Supreme National Security Council Ali Shamkhani, with the aim of "protecting the common border between the two countries".

Tishwash:  The Kurdistan region is waving an international escalation to obtain its dues allocated in the budget

Political and popular parties in the Kurdistan region called on the central government to pay the suspended financial dues, in order to pay the salaries of employees and manage the remaining life matters.

Five hundred billion dinars in the form of loans for the months of September, October and the second, is the sum of the amounts decidedCouncil of Ministersspent to the provinceKurdistan, in which officials revealed that the amounts of salaries for the months of August and July have not been paid so far, despite the entry into force of the budget on the twenty-fifth of June and the fulfillment of the region’s legal obligations.

The region, which called on the central government to review its decisions and send the dues based on the numbers recorded in the tables, especially the portion allocated to monthly salaries, which is worth nine hundred billion dinars. monthly, calling on the political forces and parties that formed the government to pay the dues as stated in the schedules and laws that urged adherence to the ministerial curriculum and the political agreements that resulted in the formation of the government.

The region was not content with local claims, but rather appealed to the international community to support it in obtaining its constitutional rights and financial entitlements according to the constitution and signed agreements. link

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CandyKisses:  The Patriotic Union of Kurdistan reveals the details of Baghdad sending 500 billion to the region

 2023/09/08 10:20

Baghdad - Iraq Today:

The Patriotic Union of Kurdistan (PUK) revealed the details of the government's decision to send 500 billion dinars to the Kurdistan Regional Government, while stressing that the amounts are due to foreign debts unrelated to oil companies or employee salaries.

Burhan Sheikh Raouf, a member of the National Union, said in a press interview: "According to the sources, there are previous debts to the region on the central government estimated at ٣٠ Billion dollars," noting that "the money was sent after settling accounts between the regional government and the center on the budget and some financial paragraphs that were pending."

He continued, "Ending the problems between the two parties contributed significantly to the approval of sending 500 billion dinars per month to the region," pointing out that "all financial accounts between the two parties will be settled in exchange for ending all previous crises."

Regarding the decision to send 500 billion dinars, Sheikh Raouf said: "The amounts are due to foreign debts that have nothing to do with the money of oil companies or the salaries of employees."

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Tishwash:  eventually it will include Iraq ...

Automated teller machine... The Middle East is a meeting point for foreign investment capital

An American report described, on Thursday, sovereign wealth funds in the Middle East as an "automated teller machine" for those looking for funds for major investments, referring to the large amount of liquidity that these institutions possess.

The American newspaper, The Wall Street Journal, indicated that “large companies looking for capital have made these funds their destination, while the regimes of the countries of the region are seeking a greater role at the global level, and they can play a greater role, especially in light of the withdrawal of major Western financiers from many countries.” investments, especially with high interest rates

According to the newspaper, major mergers and acquisitions witnessed an increase in interest from major funds, the most recent of which was the purchase of the Abu Dhabi fund of the investment management company "Fortress" for more than two billion dollars, while the Saudi fund purchased the aviation unit of Standard Chartered by about $ 700 million.

According to the American newspaper, companies and funds supervised by the National Security Adviser in Abu Dhabi, Sheikh Tahnoun bin Zayed Al Nahyan, recently moved to buy Standard Chartered Bank and Lazard Investment Bank.

It concluded deals for a British health company worth more than $ 1.2 billion, in addition to acquiring part of a giant Colombian company working in the field of food products, the newspaper says.

And the dominance of these funds in the acquisitions market appears, as the securities obligations of the Saudi Public Investment Fund increased to $ 56 billion in 2022, up from $ 33 billion in 2021, while the securities obligations of the Abu Dhabi Mubadala Fund doubled to $ 18 billion in 2022.

Peter Jaderstein, founder of the investment company "Good Advisor", likened what is happening in the Middle East to "the gold rush that occurred in the United States in previous years," according to what he told the newspaper.

The "Wall Street Journal" quoted investment fund managers as saying: "They often wait in front of their competitors in the waiting rooms of sovereign wealth funds."

They added that "Managers from Silicon Valley and New York are almost always present in the halls of the Four Seasons Hotel and other luxury hotels in Abu Dhabi."

The newspaper pointed out that the Riyadh conference, which will be held next month and is known as "Davos in the Desert", is likely to be a magnet for money hunters, unlike what happened about 5 years ago when it witnessed a wave of withdrawals by executives after the killing of journalist Jamal Khashoggi in his country's consulate.

Hundreds of CEOs and leaders of the financial sector are expected to arrive in Riyadh to attend the conference, in which Saudi Arabia is trying to highlight the kingdom's geopolitical strength, according to a previous report by Agence France-Presse.   link

Mot: .. Soooooo Ur Having a Bad Day!!! – Hmmmmmmm

Mot:  .. and So -- Where Are We!!!??  

Iraq Economic News and Points to Ponder 9-8-23

Iraq Economic News and Points to Ponder 9-8-23

Dollar Manipulation At An Iraqi Airport.” A Deputy Identifies The Bank And Demands Sudanese Intervention

Posted On09-08-2023 By Sotaliraq    The representative of Najaf Governorate, Ahmed Majeed, called on Prime Minister Muhammad Shiaa Al-Sudani to intervene to stop the manipulation and embezzlement of dollars in the Mosul Bank branch at Najaf Airport.

Majeed said, “The Integrity Commission revealed that the Mosul Bank for Investment and National Development, Najaf Airport Branch, transferred the airport’s balance from the dollar to the dinar at the official rate and closed its current account despite the creation of funds in the dollar.”

He added, “The Mosul Bank is considered the arm of one of the economic parties and has caused a waste of public money amounting to one billion and 140 million dinars by converting revenues from the dollar to the dinar and disbursing the money at the official rate.”

Majeed confirmed that a request had been submitted to Prime Minister Muhammad Shiaa Al-Sudani to “open a high-level investigation into the embezzlement of funds and relieve the director of Najaf Airport, due to the collusion of the airport administration with the bank administration.”

The Federal Integrity Commission had previously announced that it was able to arrest all the violations committed by the Mosul Bank for Investment and National Development - Najaf Airport Branch, which caused the waste of more than a billion dinars, while pointing out that this resulted from the failure of the airport administration to take measures. legal procedures to hold the bank accountable, causing the latter to exploit them and benefit from them.

It was not possible to obtain a comment from the bank or Najaf Airport on this information. LINK

Regarding The Dollar.. America Continues With Blackmail, And The Central Bank’s Measures Are An Air In The Net!

September 7 Information/Private..After several months have passed since the government and the Central Bank attempted to control the rise in dollar exchange rates, the gap between the official and parallel rates continues, given the plans that Washington is pushing in order to advance its own interests.

As for the government's and the Central Bank's measures, they are still merely notifications and decisions that do not provide satisfactory or satiating benefits, especially since they did not withstand the decisions of the United States of America, which push to create crises and not find solutions.

*Washington Control!

Speaking about this file, Member of the House of Representatives, Suhaila Al-Sultani, accuses the United States of controlling the file of dollar exchange rates in local markets until now, while she confirmed that the beneficiaries and speculators support the continuation of the current dollar crisis.

Al-Sultani said, in an interview with the Maalouma Agency, that “there are many parties that support destabilizing the economic situation in order to influence the work of the current government,” noting that “applying the budget in the ministries and governorates will not lead to a reduction in the dollar exchange rates in the local markets.” .

She continues, "America continues to control the file of dollar exchange rates in local markets until now," adding that "the United States of America controls the dollar bill in order to subject the Iraqi economy to the decisions and wills it wants to impose."

Regarding the internal factors of the dollar crisis, Al-Sultani asserts during her speech: “The beneficiaries and speculators support the continuation of the dollar crisis and the weakening of the value of the Iraqi dinar in order to achieve their personal goals.”

*A Real War!

In addition, a member of the House of Representatives, Thaer al-Jubouri, accuses the United States of America of waging a conspiratorial war to destroy Iraq’s economy, while he addressed a request to the Iraqi government regarding methods of dealing with Washington during diplomatic meetings.

Al-Jubouri said, in an interview with the Maalouma Agency, that “when the Iraqi government talks with the American side under diplomatic frameworks, it must keep in mind the standard of strength and try to obtain advanced modern technological techniques that benefit Iraq.”

He adds, "America is leading a policy of economic conspiracy during the current period to destroy the Iraqi currency and the exchange rate," stressing "the necessity of referring to this war and not abandoning it."

The member of the House of Representatives explains that “the government and the relevant ministries are required to deal as they can with America, and that the conversation be in a diplomatic manner par excellence,” pointing out that “Washington, despite its geographical distance from Baghdad, is trying to impose its complete control over all joints and its focus on... Important files such as economy and development.”

*Technical Procedures?

For his part, economic affairs researcher Muhammad Al-Saadi depends on controlling and controlling the dollar exchange rate in the parallel market by taking practical technical measures without resorting to methods of arrests or the use of force. 

Al-Saadi told Al-Maalouma, “The responsible authorities are working to pursue speculators by applying the law against those who want to harm the Iraqi economy, as well as being a first step to ensuring the elimination of the differences between the official and parallel market.”

He adds, "There has become an urgent need to take decisions related to the technical and financial aspects, which would expand currency sales outlets and allow citizens to purchase in limited quantities without setting restrictions or preconditions."

He shows that "the problem of exchange rate and high prices is often suffered by the citizen before the merchant, as merchants began to head to the official platform to obtain the dollar, while the citizen still suffers in obtaining the dollar, especially since some citizens go to car sales showrooms and face difficulty in purchasing with the dollar currency." .

During the current period, America has worked to destroy the Iraqi currency by imposing sanctions on Iraqi banks and banning the dollar under many pretexts, which in one way or another led to a severe financial crisis in the Iraqi markets. LINK

A “Worrying” Economic Vision About The Relationship Of Oil Prices To The Budget Deficit

Information / Baghdad..   Economist Nabil Al-Marsoumi confirmed today, Friday (September 8, 2023), that the oil revenues achieved until August 2023 amounted to 61.513 billion dollars, equivalent to 80 trillion dinars, while he indicated that the oil revenues estimated in the 2023 budget = 90 billion dollars, equivalent to 117 trillion dinars.

Al-Marsoumi said in a blog post followed by “Al-Ma’louma” that “the oil revenues achieved until August 2023 = 61.513 billion dollars, which is equivalent to 80 trillion dinars,” noting that “the oil revenues estimated in the 2023 budget = 90 billion dollars, which is equivalent to 117 trillion dinars.”

He continued, "If high oil prices continue and Iraq sells its oil at a price of 85 per barrel, it is possible for Iraq to achieve oil revenues of $8.7 billion per month during the remaining third of this year."

He pointed out, “Oil revenues may reach 34.8 billion dollars from September to December 2023, and thus the oil revenues actually achieved in 2023 will amount to about 96.213 billion dollars, or 125 trillion dinars, and then the actual oil revenues in 2023 will achieve a surplus of 6.213 billion dollars, meaning 8 trillion dinars, which will reduce the deficit in the 2023 budget by the amount of the surplus in oil revenues, provided that all non-oil revenues are achieved, which are estimated in the 2023 budget at about 17 trillion dinars, which may be unlikely.”

The economist stated, “The net non-oil revenues achieved during the first half of 2023 did not exceed 421 billion dinars, and therefore the high price of oil, if it continues, will not greatly reduce the budget deficit for the year 2023.”

The deficit percentage in the current draft budget reached 63.275 trillion dinars, with the adoption of a price of $70 per barrel of oil, according to what was sent by the Council of Ministers, given that more than 95 percent of the budget revenues depend on oil sales. LINK

Points to Ponder on Adversity:

There is nothing the body suffers which the soul may not profit by. - George Meredith

Even in the deepest sinking there is the hidden purpose of an ultimate rising. Thus it is for all men, from none is the source of light withheld unless he himself withdraws from it. Therefore the most important thing is not to despair. - Hasidic saying

The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.- Martin Luther King,Jr.

Great occasions do not make heroes or cowards; they simply unveil them to the eyes of men. Silently and imperceptibly, as we wake or sleep, we grow strong or weak; and at last some crisis shows what we have become. - Brooke Foss Westcott

Prosperity tries the fortunate; adversity the great. - Pliny the Younger

Be willing to have it so; acceptance of what has happened is the first step to overcoming the consequences of any misfortune. - William James

If you will call your troubles experiences, and remember that every experience develops some latent force within you, you will grow vigorous and happy, however adverse your circumstances may seem to be. - John Heywood

MilitiaMan: Iraq Dinar - Global Support Article 140 - Iraq General Budget Law 2023 - International Standards

Iraq Dinar - Global Support Article 140 - Iraq General Budget Law 2023 - International Standards

MilitiaMan and Crew:  9-8-2023

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

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