MilitiaMan: Iraq - Progress - Dinar - Iran - Trade - International - Businesses

Iraq - Progress - Dinar - Iran - Trade - International - Businesses

MilitiaMan and Crew:  9-14-2023

The Crew:  Samson, PompeyPeter, Petra, Angel1,  Daytrader, Sunkissed, GIGI and Militia Man

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

.https://www.youtube.com/watch?v=kcNTD92Oa4g

Goldilocks' Comments and Global Economic News for September 14th

Goldilocks' Comments and Global Economic News for September 14th

Good evening Dinar Recaps,

"Maritime Companies Should Act Quickly to Have a Say in New Federal Policies"

The new digital economic system is getting ready to be applied to seaports and laws of the sea.

On September 23, 2023, there will be a meeting and last chance for commercial seafarers to have their input into the new monetary policies taking place in the new digital system.

After that time, there will be the implementation of the new Maritime Laws guided by monetary policies inside our new "digital asset based trading system."

Again, over 80% of our trades take place on the sea through imports and exports of goods and services. The exchange rates are determined by new policies that take effect.

"Monetary policy changes that impact national interest rates change the value of that country's currency. A residual impact of raising or decreasing interest rates is that country's currency's value will become stronger or weaker, and downstream impacts on global exchange rates occur."

Now, do you see why I've been telling you all of this time to "watch the water?" Let's watch closely to see if these changes happen immediately or over time, but they will change.

© Goldilocks   Phelps Link   IMF Link      Investopedia Link

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 SEC Small Business Advisory Committee to Discuss Funding for Early-Stage Companies and Alternative Funding for Small Businesses   https://www.sec.gov/news/press-release/2023-177

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Banks Gear Up for ‘Larger Assault’ on Regulators After CFPB Win

https://news.bloomberglaw.com/banking-law/banks-gear-up-for-larger-assault-on-regulators-after-cfpb-win

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"Active trading in gold swaps by the Bank for International Settlements (BIS), the central bank of the central banks, in August."

"The BIS Gold Swaps rise to 26 Tonnes as soaring debt makes price suppression harder" says Robert Lambourne.

Let's take a moment here and pause. How do you deflate an inflated economy that is out of control? GOLD

Take a good look at what's going on in our economy, and you will understand why we are having to make this shift in the way we process goods and services.

Throughout history, gold has been the bridge from one economy to the next. And, we are about to see that bridge raised to levels capable of allowing us to cross over through tokenized assets backed by gold and new monetary policies to guide us.

It is no accident that the Bank of International Settlements is accumulating so much gold. The Bank for International Settlements holds gold for foreign exchange transactions and Central Bank reserves to manage monetary transactions held within the current monetary policies.

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

© Goldilocks

GoldSeek Link

https://www.bis.org/banking/balsheet/statofacc230831.pdf

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India, Saudi mull local currency trade | Mint
https://www.livemint.com/news/world/india-saudi-mull-local-currency-trade-11694454394313.html

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In a groundbreaking initiative, Mastercard has embarked on a mission to collaborate with central banks worldwide through its Central Bank Digital Currency (CBDC) program. The timing of this endeavor, which was officially launched this summer, has been strategically chosen due to the sustained global interest in digital currencies. Mastercard aims to usher in a new era of payment interoperability, recognizing its vital role in fostering a robust global economy.

https://thecurrencyanalytics.com/altcoins/mastercards-bold-move-to-drive-global-payment-innovation-69179.php

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Crypto-backed Mortgages: Unlocking the Power of Digital Assets

TheCoinRepublic Link

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Lyn Alden: Inflation vs. Deflation | Preparing for Economic Uncertainty

https://youtu.be/Rh9sflFmHCI?feature=shared

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BREAKING NEWS

CHINA ASKS BIG BANKS TO STAGGER AND ADJUST DOLLAR PURCHASES IN ORDER TO ALLEVIATE DOWNSIDE PRESSURE ON THE YUAN

It is getting hot.

Read: https://x.com/goldtelegraph_/status/1702367200655581289?s=46

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Interagency Special Purpose Credit Program Roundtable

https://youtu.be/v4UXjjQpkYI?feature=shared

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Goldilocks on the Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Iraqi Economic News and Points to Ponder Thursday Afternoon 9-14-23

 Iraqi Economic News and Points to Ponder Thursday Afternoon 9-14-23

Tlm724 Administrator Bondlady’s Corner

America Threatens New Punitive Measures Against Banks In Iraq

Iraq  Thursday, September 14, 2023 7:25 PM Follow-up / National News Center

A senior US Treasury official said on Thursday that the Central Bank of Iraq must address the ongoing risks resulting from the misuse of the dollar in Iraqi commercial banks in order to avoid imposing new punitive measures targeting the financial sector in the country, pointing to acts of fraud and laundering. Money and Iran evading sanctions.

In July, the United States prevented 14 Iraqi banks from conducting transactions in dollars as part of a broader campaign against the illegal use of the American currency.

The official told Reuters that there are still other Iraqi banks operating with risks that “must be addressed” despite the campaign.

With reserves of more than $100 billion in the United States, Iraq relies heavily on Washington's good faith to ensure that its oil revenues and funds are not subject to US sanctions.

The official added that the measure, which his country took in July, was based on clear indications of illegal financial activity. He explained that the alleged crimes being considered by the Treasury Department include acts of money laundering, bribery, extortion, embezzlement and fraud.

The Iraqi Central Governor says, “His country is committed to implementing stricter regulatory rules for the financial sector and combating dollar smuggling.” The Iraqi Central Bank did not immediately respond to a request for comment on Thursday.

Iraq has more than 70 private banks, a relatively new feature in a sector that was almost entirely under state control until the fall of Saddam Hussein after the US invasion in 2003.

Of these banks, just under a third are on the US blacklist.

“I choose to focus on banks that still have access and where I see continued risks,” the official told Reuters in Baghdad.

He added, "It would be great if the central bank seized the opportunity to address the matter directly, which might negate the need (in the United States) to take further measures."

https://nnciraq.com/226956/

Planning Discusses Preparations For Holding A Workshop To Present Sectoral Papers For The National Development Plan For The Next Five Years

Thursday 14, September 2023 12:21 | Economical Number of readings: 253

Baghdad / NINA / Today, Thursday, the Ministry of Planning held a meeting of the preparatory committee to prepare the national development plan for the next five years.

The Ministry said in a statement: The Preparatory Committee held its regular meeting headed by the Undersecretary for Technical Affairs, Maher Hammad Johan, which comes within a series of its ongoing meetings in this regard, adding: “The meeting discussed the necessary preparations to hold the workshop on presenting the sectoral papers for the plan, as well as assigning experts.” From the United Nations Development Program to work with sectoral teams according to specialization in preparing the plan, as well as presenting its general framework.”

The statement indicated that the meeting also included a presentation of the completed sectoral papers for the national development plan for the next five years after formulation by the heads of the sectoral committees.

The meeting was attended, according to the statement, by the head of the Central Bureau of Statistics, Zia Awad Kazem, a number of general directors in the ministry, and an elite group of national, international and academic experts, as well as representatives of the relevant departments in the ministry, in addition to representatives of the United Nations Development Programme./ End

 https://ninanews.com/Website/News/Details?key=1077657

The Dollar Continues To Rise With The Closure Of The Stock Market In Baghdad

Economy   Thursday, September 14, 2023 4:41 PM  Baghdad/National News Center  The exchange rates of the dollar rose today, Thursday, in Baghdad markets, with the stock market closed.

The National News Center correspondent said, “Dollar prices rose with the closure of the Al-Kifah and Harthiya stock exchanges to record 155,800 dinars against 100 dollars, while dollar prices recorded this morning 155,600 dinars against 100 dollars.”

He added, “Selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 157,000 Iraqi dinars for 100 dollars, while the purchase price reached 155,000 dinars for 100 dollars.”    https://nnciraq.com/226929/

Al-Sudani Chairs The Second Session Of The Supreme Committee For Reconstruction And Investment

Thursday 14, September 2023 | Political Number of readings: 35   Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani chaired, today, Thursday, the second session of the Supreme Committee for Reconstruction and Investment.

Al-Sudani stressed, at the beginning of the session, that the committee’s work supports the efforts of the ministries in completing strategic and development projects, and implementing public policy and the objectives of the government program, within the work of the ministries and sectoral agencies, especially pushing major projects and enabling them to move forward, and moving stalled projects.

During the session, a number of projects under implementation were reviewed, and the chronological steps of the completion stages and progress were followed, in addition to following up on the files and topics on the agenda, and taking the necessary decisions regarding them.

The session witnessed a follow-up of the tasks and powers of the committee, and a review of the Diwani Order (22430) of 2022, for the purpose of amending the tasks. The tasks prepared by the body of advisors in the Prime Minister’s Office were also approved, taking into account the observations raised by the members of the committee, and the body of advisors undertaking the preparation A paper containing clear and specific definitions (for development, strategic and infrastructure projects).

The project for constructing Highway No. 2 and its requirements for financing and implementation were also discussed, and it was decided that the Ministries of Planning and Reconstruction, Housing, Municipalities and Public Works would undertake the inclusion of a component of preparing a study and surveys for the route of the new road, which connects (Samarra - Baghdad - Holy Karbala - Al-Najaf Al-Ashraf).

The session discussed the comprehensive survey of the Rafael project, and it was decided that the National Investment Commission would present the results of the surveys of the area surrounding Baghdad International Airport to a consulting office for the purpose of preparing a study on its possible uses, and presenting the results of the study to the Supreme Committee for Reconstruction and Investment.

The two investment projects of Zour Al-Jadriya and Lake Al-Jadriya were also discussed, and it was decided as follows:

1- The General Directorate of Real Estate Registration shall register the land of Zour Al-Jadriya in the name of the Tourism Authority, provided that the uses of the land are determined exclusively for entertainment and tourism purposes, without establishing fixed facilities, taking into account the establishment of a bridge through This land is being implemented by the Ministry of Construction, Housing and Municipalities.

2- Approving the committee’s recommendations contained in the letter of the General Secretariat of the Council of Ministers on August 27, 2023, without establishing fixed facilities, and taking into account the establishment of a bridge through the land, which was approved by the Diwani Order Committee No. 37 of 2019, and the bridge implemented by the Ministry of Construction, Housing, Municipalities and Public Works./End 8    https://ninanews.com/Website/News/Details?key=1077805

Central Bank Sales Amounted To More Than $199 Million

Economy News – Baghdad   Today, Thursday, the Central Bank of Iraq’s sales in the foreign currency sales window amounted to more than 199.5 million dollars.

The Central Bank’s website published its dollar sales schedule, which Al-Eqtisad News reviewed. It included the participation of 26 banks and 62 exchange companies, and foreign transfer requests covered $158.2 million, while cash requests amounted to more than $41.2 million.

The Central Bank of Iraq sells the dollar for documentary credits and international settlements for electronic cards at a price of 1,305 dinars per dollar, for every dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash. Views 35 09/14/2023 - https://economy-news.net/content.php?id=36355

Oil Records Its Highest Levels In 2023 Amid Expectations Of Supply Shortages

Energy   Economy News _ Baghdad  Oil prices rebounded on Thursday, with Brent crude exceeding $93 a barrel for the first time this year, as expectations of tightening supplies for the rest of 2023 overshadowed concerns about weak economic growth and rising US inventories.

The International Energy Agency said earlier that Saudi Arabia and Russia's extension of oil production cuts would lead to a market deficit during the fourth quarter, before a pessimistic report on US inventories led to a slight decline in prices.

By 11:00 GMT, Brent crude rose $1.20, or 1.3%, to $93.08 per barrel after touching $93.11, its highest level since November 2022.

American West Texas Intermediate crude gained $1.14, or 1.3%, to $89.66, after also recording its highest levels in ten months.

A day before the IEA report, the Organization of the Petroleum Exporting Countries (OPEC) issued an updated forecast for strong demand and also pointed to a supply deficit in 2023 if production cuts are maintained.   Views 25 09/14/2023 - https://economy-news.net/content.php?id=36361

Integrity Announces The Launch Of The “Where Did You Get This” Campaign For Election Candidates

Political | 01:13 - 09/14/2023   Baghdad - Mawazine News   The head of the Integrity Commission, Judge Haider Hanoun, announced today, Thursday, the launch of a campaign (Where did you get this from) for candidates in the provincial council elections.

Hanoun said, during a press conference regarding efforts to combat corruption and recover funds: “Today we announce the launch of a campaign (Where did you get this from) regarding the inflation of candidates’ funds in the upcoming local elections,” adding: “We must bring honest men to the provincial councils.”

He added, "The success of the campaigns (Anti-Corruption) and (Where Did You Get This) for provincial council candidates requires, first of all, the cooperation of citizens and cooperation with regulatory bodies to expose the corrupt."

He called on all citizens to "read the Integrity and Illegal Gain Commission Law to know the path towards combating corruption," stressing that "citizen silence and complacency in combating corruption and punishing the corrupt increases the power of the corrupt and weakens the state apparatus."

He continued: “Yesterday, we held an important meeting with the Independent High Electoral Commission to oblige party candidates to disclose and submit their financial liabilities,” stressing that “the process of combating corruption is a complex and complex process and requires everyone’s contribution and assistance.”

He stressed that "the government is cooperating with the Integrity Commission on the issue of combating corruption, and the Prime Minister is seriously seeking to cooperate with the Integrity Commission to recover the funds, the wanted persons, and the accused," announcing that "he will soon go to Egypt to conclude an important memorandum of understanding to follow up on the wanted persons and recover the funds, in addition to signing memorandums of understanding with Several countries have the same issue.”

He revealed "the seizure of 10 properties, the follow-up of funds smuggled into Turkey worth $6 million, and the follow-up of the retrieval of a building in Turkey."

In response to a question by the correspondent of the Iraqi News Agency (INA), regarding the issue of tax deposits, Hanoun said, “Some of the defendants and those involved in the issue of tax deposits are asking the Integrity Commission to be neutral with them, and therefore we say to the defendants abroad that you are going the wrong way. The Commission "It is not a neutral party with the corrupt, but rather an opponent to them."

He added, "The Integrity Commission is working to prove the cases, charges, and suspicions against the accused, and whoever claims to have no connection to corruption must submit evidence to the Commission to conduct the procedures and submit it to the competent courts," stressing that "all those involved in the tax deposits case will be tried before a fair judiciary."

https://www.mawazin.net/Details.aspx?jimare=234956

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

https://www.bondladyscorner.com/

Points to Ponder on Exaggeration:

Some persons are exaggerators by temperament -- They do not mean untruth, but their feelings are strong, and their imaginations vivid, so that their statements are largely discounted by those of calm judgment and cooler temperament  -- They do not realize that "we always weaken what we exaggerate"  Tryon Edwards 

Exaggeration is a blood relation to falsehood, and nearly as blameable -- H Ballou 

Exaggeration as to rhetoric, is using a vast force to lift a feather; as to morals and character, it is using falsehood to lift one's self out of the confidence of his fellowmen -- Paget 

There are some persons who would not for their lives tell a direct and willful lie, but who so exaggerate that it seems as if for their lives they could not tell the exact truth -- Paget 

Some "Iraq News" Posted by Clare at KTFA 9-14-2023

KTFA:

Clare:  Parliamentary Economy receives a delegation from the World Trade Organization

The Economy, Industry and Trade Committee, headed by MP Ahmed Salim Al-Kinani and in the presence of a number of its members, received on Wednesday a delegation from the World Trade Organization.

During the meeting, the possibility of the Republic of Iraq joining the World Trade Organization was discussed, and what are the most important measures that Iraq must take for the purpose of starting to join the World Trade Organization.

Media Department,
House of Representatives
9/13/2023   LINK

Clare:  Iraqi movements to join the World Trade Organization

9/13/2023

Baghdad  

Today, Wednesday, the Parliamentary Economy and Trade Committee discussed with the World Trade Organization delegation the mechanism for Iraq’s accession to the organization.

The Council’s Media Department stated in a statement received by Al-Ghad Press, a copy of which was obtained, that “the Committee on Economy, Industry and Trade, headed by Representative Ahmed Salim Al-Kinani and in the presence of a number of its members, met with a delegation from the World Trade Organization.”

She added, "During the meeting, the possibility of the Republic of Iraq joining the World Trade Organization was discussed, and what are the most important measures that Iraq must take for the purpose of starting to join the World Trade Organization."    LINK

GMan:  The rate change is the only possible item left to allow them to move from observer status to full time member. This is my interpretation from the W.T.O. articles and website info. Again IMO

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Clare:  The Governor of the Central Bank opens the seventh meeting of the National Quality Team

September 14, 2023

The seventh meeting of the National Quality Team was launched in Baghdad, under the auspices of the Central Bank of Iraq.

The meeting was attended by heads of comprehensive quality management and institutional development departments in Iraqi state bodies, institutions and ministries.

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, opened the meeting with a speech he delivered on this occasion, stressing the importance of the presence of this team as a nucleus for change and reform and evaluating the concepts of modern strategic plans, praising the team’s work and distinguished performance.

While a session was held for the team, chaired by Mr. Yaqoub Youssef Hassan, Director of Total Quality Management in the General Secretariat of the Council of Ministers, and the membership of Dr. Haider Abdullah, Director of the Total Quality Management Department at the Central Bank of Iraq, to ​​discuss the team’s strategic plan and leadership in quality management in government institutions.

Central Bank of Iraq
Media Office
September 14, 2023

https://cbi.iq/news/view/2412

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Clare:  Announcement of a tender for supplying, installing and operating counting and sorting machines and currency packing machines

September 14, 2023

Announcement of the public tender numbered (2023/5) for equipping, installing and operating Iraqi and foreign currency counting and sorting machines (dollars and euros) and currency packing machines for the Central Bank of Iraq / Kurdistan Region Branch / Erbil

The Central Bank of Iraq announces the conduct of a public and private tender to equip, install and operate machines for counting and sorting Iraqi and foreign currency (dollars and euros), number (30) and currency packing machines, number (4) machines for the Central Bank of Iraq / Kurdistan Region Branch / ErbiA

,According to the technical specifications and legal conditions stated . In the standard document for processing goods prepared by this bank At a total estimated cost of (650,000,000) Iraqi dinars (six hundred and fifty million Iraqi dinars), and from the planning budget of the Central Bank of Iraq for the year 2023 and from the allocations of the Central Bank of Iraq / Kurdistan Region / Erbil branch, companies wishing to participate in the tender (agents for specialized companies in Iraq who are legally accredited) must )

Those with experience and specialization send their official authorized persons, pursuant to a letter of authorization, to the headquarters of the Central Bank of Iraq / located in Baghdad - Al-Rashid Street - Building No. (2), Floor (3), Legal Department / Contracts Department for the purpose of obtaining the tender documents in exchange for an amount of (250,000) Iraqi dinars. (

Two hundred and fifty thousand Iraqi dinars) is non-refundable and the tender closing date will be before the end of official working hours on (Sunday) corresponding to10/22/2023. The person who wins the tender will bear the fees for publishing the advertisement 

https://cbi.iq/news/view/2413

Clare:  The UAE expresses a "serious" desire to participate in the development road project in Iraq

9/14/2023

The UAE Minister of State, Mr. Khalifa Shaheen Al-Marar, expressed on Thursday his country's "serious" desire to participate in the development road project that Iraq intends to implement, which links it to Europe via Turkey.

This came during today's reception by Prime Minister Muhammad Shiaa Al-Sudani, the UAE Minister of State, and his accompanying delegation, according to a statement issued by the Iraqi government.

The statement said that the meeting witnessed discussion of ways of cooperation and strengthening areas of partnership between Iraq and the United Arab Emirates, as the Prime Minister affirmed the government’s pursuit of a policy of economic integration with the brotherly and friendly country, as it represents the basic gateway to stability in the region.

Al-Sudani highlighted Iraq's openness to Emirati companies and businessmen to work within the country, stressing the government's keenness to develop relations with the Emirates in all fields, especially those related to the economic, investment and development aspects.

For his part, the Emirati minister expressed his country's happiness at holding the joint committee meetings in Baghdad, stressing his country's support for development and investment projects in Iraq, noting the serious desire to participate in the vital development road project, because of its importance to all countries of the region.

Yesterday, Tuesday, Turkish Foreign Minister Hakan Fidan announced intensive talks with Iraq, the UAE and Qatar regarding the Turkish-Iraqi development road project.

It is noteworthy that the value of the development road project is estimated at 17 billion dollars to connect an important port, “Al-Faw Grand Port,” for goods on the southern Iraqi coast to the border with Turkey by extending a railway and road network.

The development road aims to link the port of Al-Faw in southern Iraq, which is rich in oil, with Turkey, turning the country into a transit center by shortening travel time between Asia and Europe in an attempt to compete with the Suez Canal.

The Iraqi government envisions high-speed trains transporting goods and passengers at speeds of up to 300 kilometers per hour, in addition to extending lines to local industrial and energy centers, which could include oil and gas pipelines.

According to the plans, the main transportation roads will be linked to the main port of Al-Faw on the shores of the Gulf through modernizing and building more than 1.2 thousand kilometers of railways and highways linking Iraq to neighboring countries.   LINK

Iraq Economic News and Points to Ponder Thursday Morning 9-14-23

Iraq Economic News and Points to Ponder Thursday Morning 9-14-23

Baghdad Sends More Than 100 Billion Dinars To The Kurdistan Region

2023-09-  Shafaq News/ The Director General of Trade in the Ministry of Commerce in the Kurdistan Regional Government, Nawzad Kamel, announced today, Thursday, that the Iraqi government has deposited an amount of 107 billion dinars in financial dues to farmers for wheat marketing for the year 2023 in the region’s commercial account.

Kamel said in a statement today that another amount was deposited in the account of the Ministry of Commerce, related to financial dues to farmers for the year 2023, which will be distributed as follows: 50 billion dinars for Sulaymaniyah, 32 billion dinars for Erbil, and 25 billion dinars for Dohuk.  He added that after completing the administrative and financial procedures, distribution will take place according to the date of wheat delivery to the silos.   LINK

An Economist Warns Of American Intentions Regarding Iraqi Financial Dealings

Information / Baghdad...Economic affairs researcher, Muhammad Al-Saadi, warned on Thursday of American intentions and dictates regarding Iraqi foreign financial transactions, as well as dialogues and invoices, likely imposing new conditions related to the process of transferring the dollar from the US Federal Bank. 

Al-Saadi told Al-Maalouma, “Washington may move towards imposing new dictates on Iraq through the visit of the US Assistant Secretary of the Treasury for Anti-Money Laundering Affairs (Elizabeth Rosenberg) to Baghdad and her meeting with the Governor of the Central Bank.”

He added, "It is expected that the visit aims to impose new conditions regarding the transfer of dollars from Iraqi funds in the Federal Bank," noting that "the visit comes in the context of conditions adopted by the American administration to impose on the government of Muhammad Shia al-Sudani and implement them."

He stated, "The conditions include the US Treasury's monitoring of all Iraqi foreign import invoices, and tightening control over Iraqi remittances and the dollar selling platform through the anti-money laundering framework." LINK

Al-Fatah: The Region Deals With The Federal Government As If It Belonged To Another Country

Information / Baghdad...   The representative of the Al-Fatah Alliance, Muhammad Al-Baldawi, confirmed on Thursday that the region deals with the federal government as if it belongs to another country, pointing out that the government is working to implement the tripartite budget law that determined the nature of the financial relationship with the region.

Al-Baldawi told Al-Maalouma, “The Kurdistan Region is not considered a second country, but rather it is dealt with according to the law and the constitution as it is part of Iraq, while the regional government deals with its federal counterpart as if it were in another country.”

https://media.almaalomah.me/archive/image/2023/9/14/2a1a2aea-1812-4dde-bcc7-e9c2258febdf.jpg

He added, "The Kurds often go to points of difference and not to common ground or points that constitute a factor of attraction. They also put pressure on areas around which there are problems, such as Kirkuk Governorate and the tensions that occurred there recently."

He stated that "the tripartite budget determined the nature of the region's financial dealings in handing over oil and non-oil revenues to the federal government, provided that the region reaches its designated percentage of the budget."

Al-Baldawi noted, “The Prime Minister has made it clear that the government cannot differentiate between salaries and the amounts that go to the region in other investment and operational fields.” LINK

Al-Kadhimi’s Corruption Continues.. Nineveh Airport Is Added To The Series Of Files

Information/Baghdad..  On Thursday, Representative for Nineveh Governorate, Khaled Al-Obaidi, revealed exciting details regarding the corruption of former Prime Minister Mustafa Al-Kadhimi, indicating that his advisor stole 54 billion dinars from the Nineveh Airport deal.

Al-Obaidi said in a televised interview followed by Al-Maalouma, “The reconstruction advisor during Al-Kadhimi’s time received a bribe in exchange for signing a contract to reconstruct Nineveh Airport for the benefit of an unknown Turkish company.”

 He added, "The previous amount was 214 billion dinars, while 54 billion dinars were added for the benefit of the advisor and senior Al-Kadhimi government."

 He pointed out that “construction in Nineveh does not exceed 20% and is limited to paving only,” indicating that the education and health sectors are among the worst sectors in Nineveh, indicating that “serving interests in Nineveh is very “horrible.”

The Al-Kadhimi government is considered the most corrupt, despite its short life, as record numbers of thefts were recorded, such as the theft of the century and others.   LINK

Points to Ponder on Truth:

It's a basic truth of the human condition that everybody lies. The only variable is about what. The weird thing about telling someone they're dying is it tends to focus their priorities. You find out what matters to them. What they're willing to die for. David Shore, House M.D., Three Stories, 2004

The public will believe anything, so long as it is not founded on truth.  Edith Sitwell (1887 - 1964)

Truth is the only safe ground to stand on  Elizabeth Cady Stanton (1815 - 1902)

The truth is more important than the facts. Frank Lloyd Wright (1869 - 1959)

All truths are easy to understand once they are discovered; the point is to discover them.   Galileo Galilei (1564 - 1642)

The truth that makes men free is for the most part the truth which men prefer not to hear Herbert Agar

As scarce as truth is, the supply has always been in excess of the demand. Josh Billings(1818 - 1885), 'Affurisms from Josh Billings: His Sayings,' 1865

Say not, 'I have found the truth,' but rather, 'I have found a truth.'  Kahlil Gibran (1883 - 1931)

Do not run from the truth. There be nought so hard to live with as a lie. Kathryn L. Nelson,Pemberley Manor, 2006

"Tidbits From TNT" Thursday Morning 9-14-2023

TNT:

Tishwash:  The path to development... 4 countries are holding intensive talks regarding the project 

Turkish Foreign Minister Hakan Fidan announced on Wednesday (September 13, 2023) that intensive talks were being held with Iraq, the UAE and Qatar regarding the Iraqi-Turkish development road project.

Fidan said during a joint press conference held on Wednesday with his British counterpart, James Cleverly, who is on an official visit to the Turkish capital, Ankara, that "Iraq, the Emirates, Turkey and Qatar are holding intensive talks regarding the Turkish-Iraqi development road project."

Fidan added that new trade routes have become important after the geopolitical developments witnessed in recent years, including the Corona epidemic, the Russian-Ukrainian war, and the competition between the United States and China or the West and China.

“These developments also reintroduced other trade routes that were previously discussed in theory,” he noted.

Fidan stated that the trade route does not mean meeting trade alone, but at the same time it is a reflection of geostrategic competition. link

Tishwash:  Al-Sudani receives the UAE Minister of State and confirms the government's keenness to develop relations between the two countries

Today, Thursday (September 14, 2023), Prime Minister Muhammad Shiaa Al-Sudani received UAE Minister of State Khalifa Shaheen Al-Marar, while the Prime Minister stressed Iraq’s keenness to develop relations between the two countries in all fields. 

The Prime Minister's Media Office said in a statement received by "Baghdad Today", "The meeting witnessed discussion of ways of cooperation and strengthening areas of partnership between Iraq and the United Arab Emirates." 

The Prime Minister affirmed, according to the statement, "the government is pursuing a policy of economic integration with the brotherly and friendly country, as it represents the basic gateway to stability in the region." 

Al-Sudani stated, "Iraq's openness to Emirati companies and businessmen to work within the country," stressing "the government's keenness to develop relations with the Emirates in all fields, especially those related to the economic, investment, and development aspects." 

For his part, the Emirati minister conveyed to “the Prime Minister the greetings of Sheikh Mohammed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Maktoum, and Sheikh Mansour bin Zayed Al Nahyan,” expressing “his country’s happiness at holding the joint committee meetings in Baghdad,” according to the statement.

He stressed "his country's support for development and investment projects in Iraq," noting "the serious desire to participate in the vital development road project, because of its importance to all countries of the region."    link

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Tishwash:  Experts: An expected increase of $6 billion due to the rise in oil prices

The gesture of Prime Minister Muhammad Shia al-Sudani regarding the Kurdistan region’s share of the budget, which he described as “an entitlement,” opened the door again to agreement sooner or later and to end disputes. Economic and legal experts saw the gesture as being consistent with the spirit of the law by considering the citizens of the region as part of the Iraqi people.

According to statements followed by “Earth News,” economic expert Kovind Sherwani said, “According to the budget law and its schedules, the region’s share is 16.4 trillion dinars annually, equivalent to 3.1 trillion dinars per month, and when non-oil revenues are deducted, about 960 billion dinars remain,” and he added. “The best solution is internal arbitration (the Financial Supervision Bureau, for example), external arbitration (international accounting firms), or the intervention of political actors in the state administration coalition.”

Political affairs researcher Saman Nouh pointed out that “there is a deficit and a major financial problem that the region is suffering from,” and explained that “the delay in employee salaries in the region has been a problem since 2015, and delays have become normal in the region with it being received at intervals, and now perhaps this is the last stage.”

Of the salary payment crises, which may have previously been linked to oil prices and the inability of the regional government to meet the needs in this regard, which caused this decline, in addition to the cost of transportation and marketing and the benefits of companies that used to take approximately 50 percent of the revenues from the oil produced in the region, but after a court decision Paris: The region has become fundamentally dependent on the money received from Baghdad.

The economic expert, Abdul Rahman Al-Mashhadani, believes that “Prime Minister Muhammad Shiaa Al-Sudani was very clear by putting all the dots on the letters that the share of Kurdistan in the budget, which is 12.67 percent, there is no indication that it is for salary allocations and reconstruction allocations, but rather it is the share of the region and the Kurdistan Regional Government.” To adapt its resources in a manner consistent with the dues owed to it.” He added, “We are waiting for the Minister of Finance in the regional government and the Federal Minister of Finance to sit before the Parliamentary Finance Committee and present the numbers,” pointing out that “today the language of numbers is what speaks about what the region received and handed over to Baghdad.” .

Al-Mashhadani added, saying: “Before 2016, once the budget was approved, the region would take its full share of the budget and would not hand over anything or disclose anything, but in Al-Abadi’s government in 2016, the decision was for the region to deliver oil to Baghdad and then receive its share, and Al-Abadi set it.” text in the budget and has continued to this day,” indicating that “all the money that the region was obtaining in the government of Adel Abdul Mahdi, the government of Al-Kazemi, and even the current Sudanese government are loans and obligations, and when the Office of Financial Supervision or any specialized international company audits, the region’s share will show how much it amounts to and whether Whether to pay financial obligations or not.

In addition, legal expert Ali Al-Tamimi pointed out that “the issue of employee salaries in the Kurdistan region, with the presence of the Federal Court’s decisions regarding the export of oil and gas by the Kurdistan Region, and also related to the Federal Court’s decisions related to the region’s share and the details contained in the budget law for the year 2023, all of these... It is true that the details are binding and an applicable legal matter; But the solution, in my opinion, regarding employee salaries, is through negotiation and understanding between the federal government and the Kurdistan Regional Government, especially since these salaries have a humanitarian aspect. I mean, I am talking about the spirit of the law and not about the texts.”

Al-Tamimi added, “The entire issue needs legal solutions that do not conflict with the decisions of the Federal Court and do not conflict with the General Budget Law, and these could be in the form of settlements in the form of clearing or in the form of loans or advances, and I do not think they are absent from the Federal Ministry of Finance.” Or the Council of Ministers, especially since Prime Minister Muhammad Shiaa al-Sudani has humanitarian positions and positions of extreme compassion towards citizens, whether in the Kurdistan region or in the rest of the Iraqi governorates, and it is a humanitarian issue far from rigid texts.

Meanwhile, the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, announced, during a speech in Erbil, a visit to the capital, Baghdad, in order to find a solution to the problems “peacefully,” according to the official newspaper. link

Mot:  ... Siigggggghhhhhhhhh!!!!!

Mot: ...... Almsot Here it tis!!!

Goldilocks' Comments and Global Economic News for September 13th

Goldilocks' Comments and Global Economic News for September 13th

Good evening Dinar Recaps,

Market Announcement:   China Securities Regulatory Commission is expanding the range of their assets to allow Infrastructure REITs (real estate assets).

The CSRC is equivalent to the SEC in the US. They are the regulatory body that oversees the Trading Assets in China.    Everything is being tokenized and traded on the market supported by a commodity asset. This will give our market assets around the world a Level Playing Field real value including Forex that deals with foreign currency.   © Goldilocks  Linkedin Link

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Telegram adds self-custodial crypto wallet worldwide, excluding the US | TechCrunch
https://techcrunch.com/2023/09/13/telegram-ton-crypto-wallet/

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OECD Launches Governance Principles for Green Transition
“The revised Principles mark a significant, renewed international consensus and a strong desire from all OECD and G20 members to strengthen guidance on companies’ sustainability and resilience, to help them support the green transition and adapt to climate risks,” said OECD Secretary-General Mathias Cormann.
https://www.regulationasia.com/oecd-launches-governance-principles-for-green-transition/

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🔴 G20 Calls For GLOBAL DIGITAL IDs, CBDC and Strict Crypto Regulation

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

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STATE STREET (stellar-statestreet.com)
STATE STREET’S FX CONNECT TO INTEGRATE LOOPFX, THE PIONEER OF PEER-TO-PEER-TO-BANK
LoopFX is pioneering a novel liquidity venue for large spot FX trades by centralizing peer-to-peer matching alongside bank interest. This innovative approach empowers traders using FX Connect to identify real-time matches for trades exceeding $10 million with other buy-side institutions. It also offers banks a secure channel to showcase their market axes.
https://financefeeds.com/state-streets-fx-connect-to-integrate-loopfx-the-pioneer-of-peer-to-peer-to-bank/

👆 (Goldilocks pointed to this article)

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"CME Group and DTCC’s enhanced treasury cross-margining arrangement receives SEC and CFTC approval.
The arrangement will allow eligible clearing members to gain increased margin efficiencies between US treasury securities and CME Group interest rate futures, with an expected launch in January 2024."
Cross-margin trading allows securities to be traded from one asset class to another holding liquidity for future margin calls.
There are a lot of directions I can go with this information, but I know many in this room are interested in the foreign currency direction.
A cross-margin arrangement can be agreed upon with the price of a foreign currency and used as collateral in making trades that will help an investor obtain an asset through what is called a cross-margin investment.
In other words, foreign currencies are expected to have a higher value in the future and can be used as collateral security for these trades. And, since foreign currency is considered a security and a commodity in the near term, the SEC and CFTC are involved in overseeing these transactions.
The implementation date for this to be accessed begins in January 2024. It will provide much-needed liquidity for several Market sectors including foreign currency exchanges.
© Goldilocks    Global Custodian Link

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"Fair trade laws were enacted by states in the 1930s to allow manufacturers to set prices for their products by retailers. The laws were enacted by almost every state to counteract the constant price fluctuations brought on by the Great Depression. Manufacturers wanted to set price minimums for retailers on their products because they feared that too low of prices diminished brand or product value as seen by consumers. The practice gradually was eliminated by states as international trade increased which limited enforceability of fair trade laws, and in 1975 Congress enacted legislation that made fair trade laws illegal under the Sherman Antitrust Act."

This is another Level Playing Field mechanism that is coming into effect known as the "fair trading bill."
You will see why this has to take effect as our Market systems all over the world are transitioning.

This new revised bill will minimize merchants from undercutting each other in the sale of their goods and services during a monetary crisis.
© Goldilocks
https://www.nyasatimes.com/experts-scrutinize-fine-tune-competition-and-fair-trading-bill-regulations/
https://www.law.cornell.edu/wex/fair_trade_laws

Can you see what's happening today? They are preparing us for a transition into the new economy.
© Goldilocks

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Stellar | It’s Expensive to Be Poor   https://stellar.org/blog/thought-leadership/its-expensive-to-be-poor

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Stellar | Decentralife | Stellar   https://stellar.org/blog/ecosystem/decentralife-neema-adam

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Stellar | Blockchain as a Tool for Aid Disbursements

https://stellar.org/blog/tools-solutions/blockchain-tool-aid-disbursements

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Stellar | The Realities of Delivering Aid  https://stellar.org/blog/thought-leadership/the-realities-of-delivering-aid

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The Bank of International Settlements (BIS) is calling for blockchain-based sustainable finance solutions. Indeed, the newly announced COP28 initiative seeks the development of new blockchain-based technologies to aid the sustainability of the finance sector.

Additionally, the new initiatives have also called for artificial intelligence to be used to achieve their goals. Moreover, it is set to be developed alongside the Central Bank of the United Arab Emirates (UAE), and the Emirates Institute of Finance.
https://watcher.guru/news/bis-calling-for-blockchain-based-sustainable-finance-solutions

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Washington, D.C. — The Commodity Futures Trading Commission’s Division of Clearing and Risk today issued a no-action letter providing that DCR will not recommend the CFTC take enforcement action against Taiwan Futures Exchange (TAIFEX) for failing to register as a derivatives clearing organization (DCO) as required by Section 5b(a) of the Commodity Exchange Act (CEA). 

Today’s no-action letter extends CFTC Letter 22-12, which expires September 15. The extension will be until the earlier of March 15, 2024 or the date on which the CFTC exempts TAIFEX from registration as a DCO under Section 5b(h) of the CEA.

Like CFTC Letter 22-12, today’s no-action letter is limited to TAIFEX’s clearing of the proprietary trades of U.S. clearing members and their affiliates. 

-CFTC-       https://www.cftc.gov/PressRoom/PressReleases/8776-23

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💥 XLM ANNOUNCEMENT NEWS 💥 STELLAR XLM WHY I KEEP HOLDING

https://youtu.be/Gs7EtnWz9fQ?feature=shared

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Federal Reserve Actions to Support the Flow of Credit to Households and Businesses

FEDERAL RESERVE: “As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020.  This action eliminated reserve requirements for all depository institutions.”

READ MORE… Click HERE. 
© Greg Mannarino

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JUST IN: FTX receives court approval to liquidate $3.4 billion in crypto assets
• Solana
• Bitcoin
• Ethereum
• WBTC
• WETH
• USDT
• XRP
• STG
• APT
• BIT

@WatcherGuru

👆 Let the sell-offs begin...

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I split today's post in two cuz it was kinda long....
 
The Silver Story is one that will SHOCK THE WORLD when the TRUTH comes out...175 years of Silver price suppression won't end quietly!!
 
ALERT! PART 1 - Silver Stands Ready as Banks Shut Down Coin Dealer Access to CASH! (Bix Weir)

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

  WAKE UP DEMOCRATS! The artificially suppressed price of silver is destroying any hopes for the Future of The Green New Deal! 
 
SUPPLY ISSUE: Price suppression destroys the economics of operating Silver Mines and ensures NO NEW MINES come online. 
 DEMAND ISSUE: Price suppression makes silver demand skyrocket in Industrial Applications as the low cost of silver makes EVERY APPLICATION PROFITABLE. 
 
Something will BREAK VERY SOON: either the availability of silver will dry up OR the price will skyrocket sparking a panic to own physical silver!
 
ALERT! PART 2 - DEMOCRATS BEWARE! Silver Price Suppression Will Destroy Green New DEAL!! (Bix Weir)     https://www.youtube.com/watch?v=7cabOL-OF2I

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Franklin Templeton, a leading asset manager, has entered the race for a Bitcoin spot ETF with the "Franklin Bitcoin ETF". The aim of many of these leading institutions applying for ETFs is to attract large institutional investors, which could potentially bring trillions of dollars into the crypto industry. Franklin Templeton's ETF will be based on a mix of cryptocurrency exchange Bitcoin prices to deter price manipulation.
Archive Link

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Digital Banking Announcement:  
Mountain Protocol has publicly announced its launch along with USDM following a financing round led by Castle Island Ventures and several others. The token, USDM, is fully backed by short-term US Treasuries and offers a unique yield-bearing system, allowing even non-US users to earn interest in US Treasuries. Mountain Protocol has also secured a digital asset business license from the Bermuda Monetary Authority. https://crypto.news/mountain-protocol-launches-yield-bearing-stablecoin-in-bermudas/

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U.S. Senator requests information on ways to improve privacy protections of health data | Hogan Lovells – JDSupra   https://www.jdsupra.com/legalnews/u-s-senator-requests-information-on-7126663/

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Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Iraqi Economic News & Points to Ponder Wednesday Evening 9-13-23

Iraqi Economic News & Points to Ponder Wednesday Evening 9-13-23

Tlm724 Administrator Bondlady’s Corner

With The Market Closed In Baghdad.. The Dollar Soars And Exhausts The Dinar By 157 Thousand

Economy |  09/13/2023  Baghdad - Mawazine News  The dollar exchange rates recorded a new high on Wednesday evening in local market transactions.

Selling prices in the local markets in the capital, Baghdad, recorded 157,000 dinars for 100 dollars, while purchasing prices reached 156,000 dinars for 100 dollars. Ended 29/99

https://www.mawazin.net/Details.aspx?jimare=234924

Al-Sudani Discusses Financial And Banking Reforms With The US Treasury

Iraq   Wednesday, September 13, 2023 Baghdad/National News Center  Today, Wednesday, Prime Minister Muhammad Shiaa Al-Sudani discussed with the US Treasury Department financial and banking reforms.

A statement from his office received by the Al-Khabari News Center stated, “Prime Minister Muhammad Shiaa Al-Sudani received, today, Wednesday, US Assistant Secretary of the Treasury, Elizabeth Rosenberg, and her accompanying delegation.”

The statement continued, “During the meeting, joint cooperation between financial institutions in Iraq and the US Treasury was discussed, and the government’s measures to implement financial and banking reforms were discussed to reduce corruption operations in all its forms.”

The Prime Minister indicated, “The government is continuing to implement its priorities in reforming the banking sector, which is a basic basis for developing the economy, by adopting international standards, addressing the distortions and imbalances that accompanied its work, and keeping pace with developments,” stressing that “those reforms have contributed, significantly, to reducing... Money laundering operations, as well as addressing suspicious trade and reducing corruption.”

Al-Sudani stated, “The government has come a long way in implementing its reforms in financial institutions, in the public and private sectors.”

For her part, Rosenberg praised “the great steps taken by the government in the field of financial and banking reform, which will help Iraq advance its economy and enhance its programs and plans in the field of sustainable development.”     https://nnciraq.com/226746/

The Governor Of The Central Bank Of Iraq Receives The Assistant Secretary Of The US Treasury

Money  and business  Economy News – Baghdad   On Wednesday, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, discussed with the Assistant Secretary of the US Treasury, Elizabeth Rosenberg, bilateral relations and discussed the measures taken in the field of combating money laundering and terrorist financing.

The media office of the Central Bank stated, in a statement received by Al-Iqtisad News, that “Governor Ali Mohsen Al-Alaq received the Assistant Secretary of the US Treasury, Elizabeth Rosenberg, and her accompanying delegation,” indicating that “the meeting discussed bilateral relations and discussed the measures taken by the Central Bank of Iraq in the field of Combating money laundering and terrorist financing.

He pointed to "confirmation of the continued support provided by the US Treasury and joint efforts to enhance transparency, integrity, and implementation of international compliance instructions in the Iraqi banking system."

The two parties discussed “following up on the outcomes and results of previous meetings between the Central Bank of Iraq on the one hand, and the US Treasury Department and the US Federal Bank on the other hand, as well as the possibility of providing technical support in the field of financing foreign trade through solid banking channels with mechanisms that enable financing legitimate foreign trade, in various currencies, including (Euro, Chinese yuan, and UAE dirham), as well as regulating trade with the Turkish Republic.

The US Treasury Department appreciated "the efforts and steps of the Central Bank of Iraq in contracting with international auditing companies to ensure the accuracy and transparency of procedures."   Views 85 09/13/2023 - https://economy-news.net/content.php?id=36334

The Minister Of Commerce Discusses With The Armenian Minister Of Economy Ways To Develop Trade, Economic And Investment Relations

Wednesday 13, September 2023 18:23 | Economical Number of readings: 123  Baghdad / NINA / Today, Wednesday, the Minister of Trade, Atheer Daoud Al-Ghurairi, discussed with the Armenian Minister of Economy, Vahan Keropian, the development of trade, economic and investment relations, and increasing the volume of trade exchange, on the sidelines of the joint Iraqi-Armenian committee.

During the meeting, Minister Al-Ghurairi confirmed the Iraqi government's intention, within its program, to give the private sector a role to improve the business environment in Iraq and with the countries of the world.

He added: "The opportunities are promising in light of the security and political stability, which has had an impact on many countries entering into various investment projects inside Iraq."

Al-Ghurairi said: “We are working to consolidate and frame relations and agreements and activate joint committees with all countries of the world in light of governmental openness to open channels of cooperation in all fields and to serve common interests,” stressing the readiness to provide facilities for the participation of Armenian companies in the 47th Baghdad International Fair so that it will be an opportunity for their presence.

Armenian businessmen and companies to find opportunities to enter into real partnerships with Iraqi sectors through investment projects.”

For his part, the Armenian minister stressed his country’s keenness to develop economic and trade relations with Iraq and increase the volume of trade exchange.

In this regard, he said: “As a first step, we will participate in the Baghdad exhibition with representation Governmental and we seek to encourage a number of companies to participate in the exhibition,” stressing his government’s readiness to cooperate in the fields of electricity, agriculture, and renewable solar energy in a way that serves the interests of the two friendly countries./End 8

https://ninanews.com/Website/News/Details?key=1077527

Al-Sudani Says That His Government Will End The Dollar Crisis After An Agreement With Iran

Monday, Prime Minister Muhammad Shiaa Al-Sudani announced new steps in the issue of the dollar exchange rate crisis, and said that these steps would “break down” the parallel market.

Al-Sudani spoke about the currency market file during a meeting with a number of media professionals held at the government palace, indicating that “the dollar issue requires reform of the banking and financial sector, and is linked to taxes, customs, and fees to protect products and economic policies.”

Al-Sudani said that this sector “has not witnessed any reform since 2003, and it was necessary to adhere to global compliance standards, which were supposed to be implemented in the previous government,” noting that “the decision to reduce the exchange rate to 1,320 dinars per dollar was a correction to the decision to raise “The previous exchange rate, which was not well thought out.”

Al-Sudani stated that the existence of “the parallel market is linked to a number of commercial operations, including trade with Iran,” and in this regard, he explained that merchants cannot send money legally in light of the American sanctions on Tehran, “which forces them to deal with the parallel market.”

The Prime Minister confirmed that “the Iranian side informed the government in the last meeting to stop dealing in the dollar, and to replace it with the euro, the yuan, the dirham, the Iraqi dinar, or the Iranian toman,” and revealed that there is “a mechanism that the Central Bank of Iraq and its Iranian counterpart are working on to prepare a plan to regulate this trade.”

Al-Sudani said that the new mechanism with Iran “will break the back of the parallel market,” while he explained that other problems associated with the parallel market relate to the trade in tobacco, gold, and medicines.

The Prime Minister indicated that “his government is working to solve the problems and organize the work of major traders in these sectors in preparation for including them in the procedures for purchasing the dollar from the Central Bank.”   https://economy-news.net/content.php?id=36299

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

https://www.bondladyscorner.com/

Points to Ponder on Extravagance  and  Extremes:

Laws cannot prevent extravagance; and this, perhaps is not always an evil to the public -- A shilling spent idly by a fool may be picked up by a wiser person, who knows better what to do with it; it is, therefore, not lost -- Franklin

Extremes are dangerous -- A middle estate is safest, as a middle temper of the sea, between a still calm and a violent temper, is most hopeful to bear the mariner to his haven --Swinnock

All extremes are error -- The reverse of error is not the truth, but error still -- Truth lies between these extremes -- Cecil

The man who can be nothing but serious, or nothing but merry, is but half a man -- Leigh Hunt

Extremes meet in almost everything; it is hard to tell whether the statesman at the top of the world, or the ploughman at the bottom, labors hardest -- Tancred

Extreme views are never just; something always turns up which disturbs the calculations founded on their data -- Tancred
The blast that blows loudest is soonest overblown -- Smollett

 We must remember how apt man is to extremes -- rushing from credulity and weakness to suspicion and distrust -- Bulwer

 The Greatest flood has soonest ebb; the sorest tempest, the most sudden calm; the hottest love, the coldest end; and from the deepest desire often ensues the deadliest hate -- Socrates

Neither great poverty, nor great riches will hear reason -- Fielding
No violent extremes endure; a sober moderation stands secure -- Aleyn

Zimbabwe, Vietnam and Iran News Posted by Harambe at TNT 9-13-2023

TNT:

Harambe:  Zimbabwe … Debt clearance drive to dominate Professor Mthuli Ncube’s agenda | Chronicle (9/13/23)

Zimbabwe’s debt clearance drive and continuation of the economic policies aimed at the attainment of Vision 2030 are items likely to feature more prominently on the Finance and Investment Promotion Minister, Professor Mthuli Ncube’s agenda, an economic commentator has said.

On Monday, President Mnangagwa retained Professor Ncube in the modified Finance and Investment Promotion ministry which was previously Finance and Economic Development.

Economic commentators said the development is meant to ensure smooth continuity in the finance ministry

National University of Science and Technology (Nust) Department of Banking and Investment Promotion, Mr Stevenson Dlamini said: “The re-appointment of the Honorable Minister Professor Mthuli Ncube to the position of Minister of Finance and Investment Promotion came as no surprise to me.

“His appointment is meant to ensure the continuation of the economic policies aimed at the attainment of Vision 2030.

“We expect that the tight monetary policy stance will continue for the duration of   National Development Strategy 1 (NDS1).”

 Mr Dlamini added that Prof Ncube will also place more focus on debt clearance strategy.

“He is likely to prioritize the debt clearance and Industrial Development Policies which will be supported by a high drive to build forex and gold reserves,” said Mr Dlamini.

Recently, officials said the country is making remarkable progress on its Arrears Clearance and Debt Resolution mission with trust and goodwill growing among partners as international funders are warming up to the process with the International Monetary Fund (IMF) agreeing to start the process of engagement on some programmes.

The IMF is due to start the Staff Monitored Programme during the fourth quarter of 2023 or the first quarter of 2024.

In December 2022, the Government established a structured dialogue platform with all creditors and development partners, to institutionalise structured dialogue on economic and governance reforms to underpin the arrears clearance and debt resolution process.

Zimbabwe’s debt clearance process is being championed by African Development Bank president Dr Akinumwi Adesina and former Mozambican President Joaquim Chissano, who has been designated as High-Level Facilitator.

President Mnangagwa appointed Dr Adesina as a champion in July 2022.

Zimbabwe is in arrears for servicing its debt, with arrears to multilateral development banks, including the African Development Bank, the World Bank and the European Investment Bank.

https://www.chronicle.co.zw/debt-clearance-drive-to-dominate-professor-mthuli-ncubes-agenda/

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Vietnam eyes golden opportunity from improved relations with US - VnExpress International (9/13/23)

Improved relations with the U.S. are giving Vietnam the chance to transform its economy and participate deeply in the global advanced technology supply chain, experts say.

In his meeting with U.S. President Joe Biden on Monday, Prime Minister Pham Minh Chinh said to consider the economy, trading and investment as the "perpetual drivers" of a bilateral agreement.

Vietnam and the U.S.’ establishment of the Comprehensive Strategic Partnership, according to Ambassador Pham Quang Vinh, "elevates the trust and understanding between the nations, which will surely become a motivator for long-term economic cooperation."

In the face of a disrupted supply chain, numerous shifts and competition between major nations, he said the U.S. would need locations where it could trust the production process.

As observed by experts, the significance of elevated Vietnam- U.S. ties resides in the ability to establish strategic trust, which is the basis for businesses to invest long-term.

Dr. Nguyen Khac Giang, Visiting Fellow of Singapore’s ISEAS-Yusof Ishak Institute, said the Biden administration was emphasizing strategies – de-risking, shifting the supply chain to mutual partners, and friend-shoring – that were now improved after Vietnam and the U.S. upgraded their relations.

"The conditions are satisfied for both sides to form a political bond and safeguards for businesses to operate and develop," said Nguyen Quang Dong, the director of the Institute for Policy Studies and Media Development.

The premise is the advantageous and mutually beneficial relationship between Vietnamese and U.S. businesses in past decades.

The U.S. notified Vietnam of its friend-shoring strategy in July when Secretary of the Treasury Janet Yellen visited the country.

She said the U.S. wanted to expand its business relations and diversify the supply chain between trusted partners such as Vietnam.

The purpose is to reduce global uncertainties and geopolitical risks. Since 2021, the U.S. has promoted efforts to restructure the global supply chain, especially that of semiconductors which contain many essential technologies.

Vietnam’s first opportunity is to shift its economy toward modernization and to join the advanced technology supply chain.

In a shared statement, the U.S. committed to supporting Vietnam in training and growing an advanced technology labor force, as well as promoting the rapid growth of the country’s semiconductor ecosystem.

Many U.S. semiconductor firms have emphasized their investments in Vietnam.

Amkor Technology (based in Arizona) is looking at a September completion window for its US$1.6 billion semiconductor factory in Bac Ninh, with test production at the end of October.

Amkor said the factory was their largest one in the world. In mid-May, Marvell Technology, Inc. announced its world-class semiconductor design center in Ho Chi Minh City, which is at the same level as its facilities in the U.S., India and Israel.

Expectations are placed on Vietnam to make great commercial advances, especially when slower growth in the global economy reducing exports.

A shared statement between General Secretary of the Communist Party of Vietnam Nguyen Phu Trong and President Biden said both Vietnam and the U.S. would create beneficial conditions, expand access for respective countries’ goods and services, support trading and economic policies, and overcome hurdles relating to accessing markets via the Trade and Investment Framework Agreement.

"Exported goods that are traditional and have the upper hand such as textiles, furniture, footwear and electronics will recover with a positive growth rate," said the Minister of Industry and Trade Nguyen Hong Dien.

Vietnamese agricultural goods will also see increased access in U.S. markets. In August, husked coconut is the eighth fruit product to be exported via an official quota to the U.S.

As official statistics show, trading between Vietnam and the U.S. scored US$124 billion last year, a 275-fold increase in 27 years.

To Vietnam, the U.S. is the largest export market and the second-largest trading partner. Conversely, to the U.S., Vietnam is the seventh-largest trading partner globally and largest in the ASEAN bloc.

That being said, according to experts, Vietnam still has much work to do.

Specifically, by participating in the advanced technology supply chain, Nguyen Quang Dong said, it was necessary to reflect on the failings of the supporting industries in the past decades.

The ecosystem for supporting industries remains low in number and strength, which is prompting Vietnamese firms to only be manufacturers, the lowest tier.

The advanced technology supply chain will have stricter demands and requests.

"We need to carefully analyze where in this new supply chain we can insert ourselves, and from there make investments for local businesses in a methodical, strategic manner. We must refrain from thinking that we can participate immediately," Dong said.

This is to avoid a repeat of the supply chain for FDI businesses’ failure in the past.

"Vietnam has to heighten its efforts to absorb new opportunities," added Ambassador Pham Quang Vinh.

He said the Government and the U.S. needed to come together to develop major decisions focusing on policy frameworks, infrastructure and human resources.

Minister Nguyen Hong Dien noted the U.S. was a hyper-large and super-competitive import market with a scale of $US 3.277 trillion, a detail that compels businesses to adapt quickly.

Businesses must clearly establish their product strategy, partners and distribution channels; gain clarity regarding export requirements and potential relevance to trade remedies; guarantee input materials have clear origins; and research ways to upgrade production facilities based on "eco-friendly production standards."

They also need to apply strategies to diversify their customer base and to reach niche markets to lower risks.

Dr. Nguyen Khac Giang also said, at this point, the most important thing is to create conditions for local businesses to utilize this opportunity and become an essential component in the global flow of goods and services.

"When the ‘favorable window’ has passed, Vietnam’s economy must have enough strength to stand on its own at a higher rank internationally," he said.

https://e.vnexpress.net/news/business/economy/vietnam-eyes-golden-opportunity-from-improved-relations-with-us-4652900.html

Harambe:  Iran, Iraq reach favorable agreements over gas export - Mehr News Agency | (9/13/23)

The oil minister also on the sidelines of a cabinet meeting on Wednesday morning said that the negotiations are underway regarding the issue of the Arash field.

Iranian authorities have expressed dissatisfaction over a contract signed between Kuwait and Saudi Arabia last year that enables them to develop the field and share its resources without Iran’s involvement

https://en.mehrnews.com/news/206026/Iran-Iraq-reach-favorable-agreements-over-gas-export

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Harambe:  President Raisi Says Iran Has Authority On Released Assets | Iran Front Page (9/13/23)

Iranian President Ebrahim Raeisi has stressed Tehran’s full authority on its recently-unblocked funds, saying it is the Islamic Republic that decides how to spend the funds and that the money will be spent "wherever we need it."

Raisi made the remarks in an exclusive interview with the American broadcast television network NBC in the capital Tehran on Tuesday.

He pointed to last month’s deal between Iran and the United States to exchange prisoners and to secure the release of $6 billion of Iranian funds that had remained blocked in two South Korean banks since 2018 because of US pressure on Seoul.

The administration of US President Joe Biden claimed at the time that the funds and the proceeds of Iranian oil sales to South Korea could only be spent on “humanitarian” purposes.

Raisi stated during the interview that Iran would have “authority” over how the funds would be spent, stressing, “This money belongs to the Iranian people, the Iranian government, so the Islamic Republic of Iran will decide what to do with this money.”

Asked whether the released funds would be used for other purposes rather than humanitarian needs, the Iranian president said, “Humanitarian means whatever the Iranian people need, so this money will be budgeted for those needs, and the needs of the Iranian people will be decided and determined by the Iranian government.”

The president also added the American detainees in Iran were “very healthy,” and would be coming home soon as the US-Iran prisoner exchange deal would be completed in “due time.”

The Biden administration announced on Monday that it had taken concrete steps to clear the way for the prisoner exchange, issuing a waiver that allows international banks to transfer the $6 billion to Qatar without the threat of US sanctions.

The waiver means that European, Middle Eastern and Asian banks will not be in violation of US sanctions in converting Iran’s money, which was frozen in South Korea, and transferring it to Qatar’s central bank, where it will be held for Tehran to be used for the purchase of non-sanctioned goods.

The Biden administration also agreed to release five Iranian citizens held in the United States.

The five Iranian detainees were identified as Mehrdad Moein Ansari, Kambiz Attar Kashani, Reza Sarhangpour Kofrani, Amin Hassanzadeh, and Kaveh Lotfollah Afrasiabi.

Top Iranian officials have emphasized that there is no connection between the prisoner exchange agreement reached with the United States and the release of Iran’s frozen assets.

Earlier in August, Iran’s Foreign Minister Hossein Amir-Abdollahian said, “The exchange of prisoners is a completely humanitarian issue and has nothing to do with unblocking our funds in foreign banks.”

https://ifpnews.com/president-raisi-iran-authority-released-assets/

Iraq Economic News and Points to Ponder Wednesday Afternoon 9-13-23

Iraq Economic News and Points to Ponder Wednesday Afternoon 9-13-23

Iraqi Movements To Join The World Trade Organization

Al-Ghad Press/Baghdad    Today, Wednesday, the Parliamentary Economy and Trade Committee discussed with the World Trade Organization delegation the mechanism for Iraq’s accession to the organization.

The Council’s Media Department stated in a statement received by Al-Ghad Press, a copy of which was obtained, that “the Committee on Economy, Industry and Trade, headed by Representative Ahmed Salim Al-Kinani and in the presence of a number of its members, met with a delegation from the World Trade Organization.”

She added, "During the meeting, the possibility of the Republic of Iraq joining the World Trade Organization was discussed, and what are the most important measures that Iraq must take for the purpose of starting to join the World Trade Organization."  https://alghadpress.com/39278--.html

A Sudanese Advisor Refutes His Statement Regarding The Monetary Bloc.. What Did He Say?

Economy |  Baghdad Today – Baghdad  Today, Wednesday (September 13, 2023), the Prime Minister’s Advisor for Investment Affairs, Muhammad al-Najjar, refuted what was attributed to him regarding the size of the Iraqi monetary mass.

Al-Najjar said in a press statement, followed by "Baghdad Today", that "the Central Bank of Iraq is not within its jurisdiction, and that it will contact the official newspaper to delete the news attributed to it."

The official newspaper Al-Sabah published in its issue of September 9, quoting the advisor to the Prime Minister, Muhammad Al-Najjar, as saying that “the monetary supply of the local currency has reached the barrier of 116 trillion dinars, of which within the banking system is between 30 and 40 trillion dinars.”

Data from the Central Bank of Iraq indicate that the volume of cash in banks until July 2023 amounted to 7.5 trillion Iraqi dinars, and not between 30 and 40 trillion dinars.

As for the volume of printed money until July 2023, it amounted to 99.7 trillion dinars, not 113 trillion dinars.   LINK

Al-Shammari: The Path Of Development Will Turn Iraq Into A Global Transit Point With Huge Returns

Time: 09/12/2023 Read: 2,457 times  Al-Shammari: The path of development will turn Iraq into a global transit point with huge returns 73456737-1

  {Politics: Al-Furat News} Advisor to the Prime Minister, Fadi Al-Shammari, confirmed today, Tuesday, that the path of development will turn Iraq into a global transit point with huge revenues.

Al-Shammari said, in a statement, a copy of which was received by {Al-Furat News}, that: “Iraq announced that it will establish a road complex by declaring a “development road,” through which goods, travelers, and energy lines will be transported from east to west and vice versa as well.

It will also turn the country into a point Global transit, and thus the Chinese market will move to Europe and the European market to Asia, as well as the Gulf, Iranian, Saudi, Indian and Pakistani markets.”

He added, "It will also provide huge financial returns in addition to the desires of countries to establish factories along the line. It represents a qualitative transition for Iraq from a country full of problems to a regional trade center. It will also fulfill the dream of a development road project that will connect the old world and the new world."

Al-Shammari continued, “The development road project starts from the Al-Faw port in Basra and passes through ten Iraqi governorates all the way to Turkey and from there to Europe and other corridors in multiple stages that will be announced successively for the transport of goods and energy, and it starts from a specific point in the large Al-Faw port, as the development road is multiple.”

 “Dual-use modes include highways through which freight trucks pass, railways for transporting goods and passengers, and energy transport corridors.”

He stated, "The road passes through 10 governorates up to the Iraqi-Turkish border, from which it will be connected to the highway network in Turkey. Through this road, Iraq will turn into a major trade station and a major transportation station between Asia and Europe, with the sea journey time reduced from (33) to (15)." "One day."

Al-Shammari added, “The Development Road is a modern multi-modal infrastructure system (consisting of ports, airports, highways, and new railway lines) that complies with the highest international standards and best engineering practices, which facilitates the social and economic development and diversification of Iraq and related neighboring countries.

The corridor will also be "The global transport of goods and energy will achieve significant development gains for Iraq and transform the areas on both sides of it into factories, laboratories, warehouses and investment projects that contribute to diversifying sources of income."

He pointed out, "The maximum capacity of the Al-Faw Grand Port is about (3.5) million equivalent units according to the assumed horizon in 2028, while it will reach about (7.5) million equivalent units according to the assumed horizon in 2038," considering the "shortest and least expensive development path for transportation and transit."

Al-Shammari continued, “Industrial cities will be established along the development road, and the Al-Faw Port project will include the largest industrial city in the Middle East,” noting that “the development road will be the closest and most suitable for transportation and linking operations between the continents of Asia and Europe.”

At the conclusion of his statement, he noted, “The final completion period for the Development Road Project, according to the feasibility study, is until 2028, and it is currently in the first design and soil investigation stage, after which tenders will begin to be referred upon completion of the final designs for any section of the Development Road, whether for railways or highways.” "  LINK

Sudanese Advisor: The Rise In Oil Achieves Two Budget Goals

Time: 09/13/2023 Read: 104 times  {Economic: Al-Furat News} Mazhar Muhammad Saleh, the economic advisor to the Prime Minister, Muhammad Shiaa Al-Sudani, said that two financial budget goals were likely to be achieved due to the continued rise in oil prices.

Saleh told Al-Furat News Agency, "It is possible to benefit from the expected rise in oil prices in reducing the budget deficit through relaxed spending in its law without a shortage in funding."

He pointed out that "fiscal policy resorts to converting part of the hypothetical deficit into an actual deficit, which leads to the hypothetical in all cases, which means dispensing with borrowing when urgent financial necessity occurs."

In another statement, Saleh said, “The general budget for three years was built on a hypothetical deficit of 64 trillion dinars per year,” pointing out that “the government will not face the problem of the deficit this year (2023) in light of the rise in oil prices and their reaching a high level, and that There is an abundance achieved this year of about 23 trillion dinars, in addition to the delay in the budget and some expenses that were not achieved.”

Saleh pointed out, “If the price of oil per barrel reaches $70, then in the next two years a deficit of less than 130 trillion dinars will be achieved for the years 2024 and 2025. This is a large number, and it is what the Prime Minister indicated regarding the issue of managing the deficit.” Raghad Dahham   LINK

Points to Ponder on Extravagance & Extremes:

He that is extravagant will soon become poor, and poverty will enforce dependence, and invite corruption --Johnson

The passion of acquiring riches in order to support a vain expense, corrupts the purest souls -- Fenelon

Waste of time is the most extravagant and costly  of all expenses -- Theophrastus

That  is suitable to a man, in point of ornamental expense, not which he can afford to have, but which he can afford to lose -- Whately

The man who builds, and lacks wherewith to pay, provides a home from which to run away -- Young

Extremes, though contrary, have the like effects -- Extreme heat kills, and so extreme cold; extreme love breeds satiety, and so extreme hatred; and too violent rigor tempts chastity, as does too much license -- Chapman

Too austere a philosophy makes few wise men; too rigorous politics, few good subjects; too hard a religion, few persons whose devotion is of long continuance -- St Euremond

Mistrust the man who finds everything good; the man who finds everything evil; and still more the man who is indifferent to everything -- Lavater

"Tidbits From TNT" Wednesday 9-13-2023

TNT:

Tishwash:  The Governor of the Central Bank of Iraq receives the Assistant Secretary of the US Treasury

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received US Assistant Secretary of the Treasury Elizabeth Rosenberg and her accompanying delegation.

During the meeting, they discussed bilateral relations and discussed the measures taken by the Central Bank of Iraq in the field of combating money laundering and terrorist financing, in addition to confirming the continued support provided by the US Treasury and joint efforts to enhance transparency and integrity and implement international compliance instructions in the Iraqi banking system.

The two parties discussed following up on the outcomes and results of previous meetings between the Central Bank of Iraq on the one hand, and the US Treasury Department and the US Federal Bank on the other hand, as well as the possibility of providing technical support in the field of financing foreign trade through reliable banking channels with mechanisms that enable financing legitimate foreign trade, in various currencies, including ( Euro, Chinese yuan, and UAE dirham), as well as regulating trade with the Republic of Turkey.

The US Treasury Department appreciated the efforts and steps of the Central Bank of Iraq in contracting with international auditing companies to ensure the accuracy and transparency of procedures.

Central Bank of Iraq
Information Office
September 13, 2023

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Tishwash:  The Central Bank and the US Treasury are discussing implementing international compliance instructions in the banking system

The Central Bank and the US Treasury are discussing implementing international compliance instructions in the banking system   link

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Tishwash:  Parliamentary Finance decides to host the Ministers of Federal Oil and Wealth in Kurdistan

The Parliamentary Finance Committee decided, today, Tuesday, to host the Ministers of Federal Oil and Resources in the Kurdistan Region, while indicating that it will submit its report to the Presidency of Parliament to find out the reasons for the interruption of funds from the region.

Committee Chairman Atwan Al-Atwani said in an interview with the Iraqi News Agency, followed by Al-Iqtisad News, that “the committee hosted the government negotiating team with the Kurdistan region, which is the first step regarding the task assigned to the House of Representatives to reach appropriate solutions regarding the region’s amounts in accordance with the constitution and the budget law.”

He added, "The committee will host during the current week the current Minister of Oil in the government and the Minister of Wealth in the Kurdistan region to complete the meetings and boycott the information provided by the government team to find out where the defect lies," noting that "the committee will submit its report to the House of Representatives during the current week to find out the reasons for cutting The amounts for the region, and what solutions the House of Representatives could take to guarantee the rights of citizens in Kurdistan    link

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Tishwash:  Iraqi Foreign Minister: We reject the threat to our country's sovereignty

Iraqi Foreign Minister, Fouad Hussein, said that his country rejects the use of its territory to attack Iran, but it also rejects “threatening Iraqi sovereignty.”

This came during a joint press conference held by Hussein, yesterday, Tuesday, with his Austrian counterpart, Alexander Schallenberg, according to the official Iraqi News Agency (INA).

Hussein said, "The Iraqi constitution prohibits any party from using Iraqi lands to attack neighboring countries."

He added, "Iraq's relations with Iran are strong, and this relationship prevents the use of violence," noting that "Iraq refuses to use its territory to attack Iran by some groups (armed groups), and we also reject the threat to Iraqi sovereignty."

He pointed out that "Iraq is committed to the agreement concluded with the Iranian side, which included removing armed groups from the border and transferring them to camps deep in the region (Kurdistan) and far from the border."

He pointed out that he will visit Iran today, Wednesday, to "discuss the implementation of this agreement by both sides."

On the other hand, the Iraqi minister discussed with his Austrian counterpart a number of files, most notably the political relations between the two countries, as well as the work of Austrian companies in Iraq and the return of flights to Austrian Airlines.

On Monday, the Austrian Foreign Minister arrived in Baghdad on an official visit that lasted two days, during which he announced the reopening of his country’s embassy in Iraq, more than 30 years after its closure.

Vienna closed its embassy in Baghdad in 1991 following the Gulf War (1990-1991), and since that time the Austrian embassy in Jordan has performed the duties of the embassy in Baghdad. link

Mot:  .......... Kinda like da RV - Huh!!!

Mot:  ~~ oooops ---- embarrassed with his car ~~~~