Iraq Economic News and Points to Ponder Sunday AM 9-17-23

Iraq Economic News and Points to Ponder Sunday AM 9-17-23

Speculators And Analysts Manipulate The Price Of The Dollar Through “False Assumptions”

The first  09/17/2023   Baghdad: Huda Al-Azzawi    A “false hypothesis” claiming that visits by US Treasury officials to the capital, Baghdad, aimed at increasing sanctions on banks, has gained currency in the local market and was the main reason for the rise in the dollar exchange rate over the past few days. Specialists in economic affairs have shown that these hypotheses unleashed by beneficiary speculators are supported and promoted by many economic or political analysts for several reasons.

The economic affairs analyst, Nabil Jabbar Al-Tamimi, stated in an interview with “Al-Sabah” that “there is a link between the rise in the exchange rate of the dollar and the sanctions imposed on banks, and this link came as a result of traders and some people benefiting from the economic analysis,” stressing that “there is no relationship to the rise in...

 The exchange rate when imposing sanctions on four banks in November 2022, as well as when imposing sanctions on 14 banks after that date,” explaining that “these assumptions are economically illogical, because the (14) banks had an entry rate of about 8% in the currency auction and can be covered.” By other banks.

He pointed out that "these hypotheses are unleashed by some economic analysts for the purpose of benefiting from them, especially since some of them have political leanings against the current government, and try to distort the facts by promoting such (false hypotheses) or have a connection with currency traders, and this is what The authorities alerted him,” and Al-Tamimi expected that some of these economic analysts would be “arrested” in the next few days.

He pointed out that "the Communications and Media Commission stressed the importance of avoiding misleading information on more than one occasion, which causes an increase in exchange rates. This information must be addressed by government authorities to refute it and hold accountable everyone who promotes false information that causes an increase in the exchange rate."

For his part, the professor and analyst in economic affairs, Dr. Jaafar Alloush, indicated in an exclusive interview with “Al-Sabah” that “the incorrect reading of the visits of treasury officials is what gives general impressions that compliance with international standards has not been achieved, and thus creates pessimistic expectations that help raise the dollar exchange rate.” While the Central Bank’s data explaining its policies confirms progress in accordance with those policies  Standards".

Alloush considered the unstable rise in the exchange rate “an economically unjustified rise, but it is linked to the abundance and expansion of the volume of internal exchanges in the dollar currency, supported by the increasing types and volume of imported goods that are financed in dollars,” and explained that “the demand for the dollar is multi-faceted and depends on the volume of transactions (which It constitutes a growing demand), as the rise in the exchange rate of the dollar is directly proportional to the volume of internal trading in it,

and with there being only one source for supplying the dollar, which is the central bank (the window for selling the currency) and through the mediations of commercial banks that finance these exchanges, especially foreign trade, in exchange for the limited supply of this supply.

“The problem remains in the form of a real gap between the increasing demand for dollar transactions and the limited supply.”

 He pointed out, “Here lies the danger of lowering the exchange rate by the central bank and losing its effectiveness unless the means of financing trade are legalized and the volume of local dollar exchanges is reduced.”

Regarding the repeated visits of US Treasury officials to Baghdad, Alloush stated that “those visits come to ensure the application of these international standards, and they are also periodic visits that have occurred for a long time, and there are financial relations linking the Central Bank of Iraq with the Federal Reserve and the American Treasury, and meetings are held.” "A regular period between the two parties to review many issues."

He explained, "These days, the visits of American officials to Baghdad are being exploited in the media to inject more waves of pessimism that are directed towards creating a supportive climate for the instability of the dollar exchange rate, knowing that this rise has become a financial resource for many speculators, some of whom control the parallel exchange market, because Dollar trading has expanded its base, and this expansion creates additional difficulties for the monetary authorities and the central bank in controlling the gap in the parallel rate with the official rate.

 Edited by: Muhammad Al-Ansari    https://alsabaah.iq/84100-.html

Dollar Prices Continue To Rise For The Second Day In A Row... 157 Thousand Dinars For Every 100 Dollars

Economy |Baghdad today - Baghdad   Today, Sunday (September 17, 2023), the dollar exchange rates witnessed a continued rise against the Iraqi dinar at money exchangers in the capital, Baghdad.

Money exchangers in the capital, Baghdad, recorded 157,000 dinars for sale for every 100 US dollars, while they recorded 155,000 thousand dinars for purchase for every 100 US dollars.

Yesterday, Saturday (September 16, 2023), the exchange rates of the US dollar against the Iraqi dinar recorded a noticeable increase in local markets.

The "Baghdad Today" correspondent said, "The selling price of the dollar reached, on Saturday morning, 157,000 dinars per 100 dollars, while the purchase price reached 155,000 dinars per 100 dollars."

The dollar exchange rates are witnessing fluctuations in local markets with fears of arrests of owners of exchange companies and private banks that do not adhere to the official rate.

Earlier, economic expert Nabil Al-Marsoumi confirmed that dollar prices are likely to record an additional rise in the parallel market in the coming days, bringing the exchange rate to 160 thousand dinars for every 100 dollars, while he indicated that the current rise is due to a real demand for the dollar and not money laundering. Or a fictitious or illegal request, rather its goal is to finance real trade with countries banned from the dollar.  LINK

Compared To Last Week... Iraq's Oil Exports To America Increased

Economy |Baghdad today - follow-up   The US Energy Information Administration announced today, Sunday (September 17, 2023), that Iraq's oil exports to America increased by more than half the amount exported during the past week.

The administration said in a table followed by “Baghdad Today” that “the average US imports of crude oil during the past week from seven major countries amounted to 6.346 million barrels per day, an increase of 524 thousand barrels per day from the previous week, which amounted to 5.822 million barrels per day.”

She added, "Iraq's oil exports to America reached an average of 248 thousand barrels per day last week, an increase of 148 thousand barrels per day from the previous week, which reached an average of 100 thousand barrels per day."

The administration also indicated that “the most oil revenues to America during the past week came from Canada at an average of 3.645 million barrels per day, followed by Mexico with an average of 1.095 million barrels per day, and oil revenues from Brazil amounted to an average of 545 thousand barrels per day, and then Saudi Arabia at an average of 383 thousand barrels.” Daily".

While “the amount of American imports of crude oil from Nigeria amounted to an average of 219 thousand barrels per day, and from Colombia an average of 211 thousand barrels per day, while no quantity was imported from Russia, Libya, or Ecuador,” according to the table. Source: Agencies   LINK

Democratic Party: The Government Will Vote To Grant 800 Billion Dinars To The Kurdistan Region

Information / Baghdad..  The representative of the Kurdistan Democratic Party, Mahma Khalil, confirmed on Sunday that the Federal Council of Ministers will vote today on granting the region 800 billion dinars.

Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..

Khalil said in a statement to Al-Maalouma, “The Council of Ministers will present, during its session, which will be held today, Sunday, the regional government’s request to grant it 800 billion dinars as an advance from its share in the federal budget for the purpose of covering employee salaries.”

He added, "There are positive signs about the Council of Ministers' vote on the regional government's request for an advance of 800 billion from its budget share for the current year."

The Iraqi Council of Ministers intends to hold its regular session today, Sunday, instead of Tuesday, as is usual every week, due to the travel of Council President Muhammad Shiaa Al-Sudani to New York to participate in the work of the United Nations General Assembly. LINK

Points to Ponder on Riches & Wealth:

 As riches and favor forsake a man we discover him to be a fool, but nobody could find it out in his prosperity. -- Bruy'ere

Worldly wealth is the devil's bait; and those whose minds feed upon riches, recede in general from real happiness, in proportion as their stores increase; as the moon, when she is fullest of light, is farthest from the sun. -- Burton

Wealth is like a viper, which is harmless if a man knows how to take hold of it; but if he does not, it will twine round his hand and bite him. -- St Clement

Money and time are the heaviest burdens of life, and the unhappiest of all mortals are those who have more of either than they know how to use. -- Johnson

There is no society,m however free and democratic, where wealth will not create an aristocracy. -- Bulwer 

Riches are gotten with pain, kept with care, and lost with grief.  The cares of riches lie heavier upon a good man that the inconvenience of an honest poverty. -- L'Estrange

The wealth of a state consists not in great treasures, solid walls, fair palaces, weapons and armor; but its best and noblest wealth, and its truest safety, is in having learned, wise, honorable, and well - educated citizens.
Wealth consists not in having great possessions, but in having few wants. -- Epicurus

Wealth hath never given happiness, but often hastened misery; enough hath never cause misery, but often quickened happiness. -- Tupper

If thou desire to purchase honor with they wealth, consider first how that wealth became thine; if thy labor got it, let they wisdom keep it; if oppression found it, let repentance restore it; if they parent left it, let they virtues deserve it; so shall they honor be safer, better, and cheaper. -- Quarles

Goldilocks' Comments and Global Economic News for September 16th

Goldilocks' Comments and Global Economic News for September 16th

Good afternoon Dinar Recaps,

Banks are in support of Basel 3 Capital Requirements with some exceptions and asking for adjustments inside Credit Unions and smaller Banks.

They have already found that the need for adjusted requirements depending on the population size and the amount of money in that community is needed to be proportional to the size of that community's ability to hold a certain economic status.

Instead of flat across-the-board Capital Requirements for banks of all sizes, changes are being called for to meet the needs of smaller Community Banks.

This will reduce the amount of consolidation going forward and keep some solid banking practices in communities that have been known for a long time.

As you can see, we talked about adjustments being made during this period of time. Here is one of them.

© Goldilocks

https://news.cuna.org/articles/123035-cuna-woccu-urge-basel-iii-proportionality-implementation

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U.S. Has More Gold in Reserves Than All of BRICS Combined

https://watcher.guru/news/u-s-has-more-gold-in-reserves-than-all-of-brics-combined

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Barring any negative surprises, Maersk shipping industry is beginning to see an upside trend in trading volumes. Remember, the shipping industry is 80% of what takes place in the trading sector.

Maersk CEO says it is not what it used to be a few years ago, but they are seeing signs of less volatility and more production opportunities.

Maersk is one of the largest shipping industries in the world and a good barometer in gauging trade on the water.

This is a good sign as we approach market and banking reforms complying with Basel 3 requirements. It is a synchronistic set of patterns we are looking for to determine realistic revenue to support new values on each sector of the market including foreign currency values.

Things are beginning to look as though we are being set up for a Global Currency Reset.

The proposal period and testing period for Basel III requirements are on November the 30th. December is a month for the banking system to clear their books, and it is a wonderful time for them to move forward with the implementation of Basel III requirements.

Basel 4 began on January 1st 2023, it was the expectation the Basel 3 would be completed by the end of the year.

The tokenization of assets backed by real values inside a commodity Market is also expected to be done in the near term with more networks being built on an open banking system as we move forward.

Look for gold, silver, and other Commodities such as oil to go to real values or head that way anytime this year or early next year.

Do you see how the Markets, Banks, Regulatory agencies, Shipping industry, and Currency Reforms are laying a foundation for change?

© Goldilocks

https://indiashippingnews.com/maersk-the-shipping-giant-is-showing-tentative-signs-of-a-bounce-back-in-global-trade/

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The new digital asset-based trading system is not simply a button you can push to change everything.

It is layered with support mechanisms capable of keeping the system going through monetizing efforts in every sector of the market.

© Goldilocks

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Indonesia Ready to Work on Critical Minerals Agreement With U.S.

Rich in critical minerals like nickel, Indonesia is ready to start working with the United States on an agreement to supply the nation with these minerals in order to meet the increasing demand for electric vehicles.

It’s just another prime example of one of the many proposed agreements nations are making with each other in order to meet their emissions-related goals. These critical minerals represent important components in developing clean energy technology.

https://etftrends.com/gold-silver-investing-channel/indonesia-ready-work-critical-minerals-agreement-us/

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London gold body aims to create secure global database | Reuters
https://www.reuters.com/markets/commodities/london-gold-body-aims-create-secure-global-database-2023-09-14/

LONDON, Sept 14 (Reuters) - Deutsche Bank has partnered with Swiss crypto firm Taurus to provide custody services for institutional clients' cryptocurrencies and tokenised assets, Taurus said in a statement on Thursday.

The partnership means Deutsche Bank will, for the first time, be able to hold a limited number of cryptocurrencies for its clients, as well as tokenised versions of traditional financial assets, a Deutsche Bank spokesperson said.

Crypto trading is not in the bank's "immediate plans", the spokesperson said. Deutsche Bank said it aimed to offer crypto trading in a World Economic Forum paperback in 2020.

https://archive.ph/2023.09.14-122111/https://www.reuters.com/business/finance/deutsche-bank-hold-crypto-institutional-clients-2023-09-14/

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BOOM! A New List of Banks That are Connected to The QFS System or are Being Connected – QFS + RTGS Trust The Plan! - American Media Group BOOM! A New List of Banks That are Connected to the QFS System or are Being Connected - QFS + RTGS Trust the Plan!
https://amg-news.com/boom-a-new-list-of-banks-that-are-connected-to-the-qfs-system-or-are-being-connected-qfs-rtgs-trust-the-plan/

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Zambia, China to dedollarize trade

Zambia and China have agreed to encourage wider use of their own currencies in trade and investment following a meeting in Beijing between Presidents Xi Jinping and Hakainde Hichilema.

The measure would reduce foreign exchange costs and exchange rate risks, according to a joint statement made by the two leaders on Friday.

Additionally, this move could reduce dependence on the US dollar, which is currently used to calculate the price of copper.

Copper constitutes roughly 70% of Zambia's export earnings, while China represents approximately half of global demand.

https://twitter.com/MultiPolarMarkt

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When our interests shift to more sharing, understanding, and involvement in the completion of a fair and abundant monetary system over our own self-absorbed piece of it, the abundance we are seeking the most can already be found within our hearts.

© Goldilocks

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Thank you Dinar Recaps

KTFA Members "News and Views" Saturday PM 9-16-2023

KTFA:

Jim:  Iraq and speaker will be speaking at the United Nations General Assembly on Tuesday, 19th sometime between 4:30pm  and 6:00pm Eastern. Iraq is #17 on the speaker roster. https://www.un.org/en/conferences/SDGSummit2023

Suzie:  Just MY opinion, but I would like to think this "Jolly Farm's" ride is about to come to an end soon.  With all the meetings with the UST, WTO, AMF, travels back and forth between countries, contracts being signed, countries pouring in to do business, Iraq to be the leader in the middle east and so on and so forth, this cannot drag out to the "best Christmas ever" like we've had so many times past, or Sudani and Alaq and all this information coming forth would prove to be fraudulent and leave them in a position they DO NOT want to be in and would destroy any credibility we've had in Iraq and information provided, not to mention what this would do to them internally, so I'm personally looking for this soon, not months down the road, as international business, if all true, won't stand for it.  Just My opinion! 

Clare:  Al-Sudani chairs the third meeting of the Supreme Committee for Implementing the Development Road Project

9/16/2023

Today, Saturday, the Prime Minister, Muhammad Shiaa Al-Sudani, chaired the third meeting of the Supreme Committee for the Implementation of the Development Road Project.

The Prime Minister's Media Office stated, in a statement received by {Al-Furat News}, that "Prime Minister Muhammad Shia' al-Sudani chaired the third meeting of the Supreme Committee for Implementing the Development Road Project."    LINK

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Clare:  Al-Sudani and Fouad Hussein alongside world leaders in New York

9/16/2023

World leaders will meet at the United Nations next week, in light of geopolitical tensions that have been greatly exacerbated by the Ukraine war, amid Russia and China competing on one side with the United States and Europe on the other side to gain support from developing countries.

The Iraqi delegation will participate in the meetings of the United Nations General Assembly, headed by Prime Minister Muhammad Shiaa al-Sudani and Foreign Minister Fuad Hussein, and they will meet there with many world leaders, according to Foreign Ministry spokesman Ahmed al-Sahhaf.

Foreign Minister Fouad Hussein arrived in New York yesterday to participate in the meetings of the United Nations General Assembly.

According to Reuters, Russia's war in Ukraine will again be a focus at the annual gathering in New York, which Ukrainian President Volodymyr Zelensky will personally attend for the first time since the conflict began.

The concerns of the Southern Hemisphere also top the agenda of the meetings this year, and the focus on this issue comes to some extent as a reflection of the increasing interest of Western countries in developing countries to ensure their support in efforts to isolate Russia.

The focus of several high-level meetings during the General Assembly will be on the priorities of developing countries in Africa, Latin America and Asia, namely climate, health, development financing, and how to put the “sustainable development goals” on the right track.

Before the New York meetings, diplomats acknowledged their focus on developing countries, but denied suggestions that competition played a role.   LINK

Clare:  At the request of the Iraqi government, the Security Council decides to end the mandate of UNITAD after a year

9/16/2023

The UN Security Council decided to end the mandate of the investigation team to enhance accountability for crimes committed by ISIS “UNITAD” in September 2024.

On Friday (September 15, 2023), the Council voted unanimously to end UNITAD’s mandate after a year, at the request of the Iraqi government.

The resolution, which was prepared with British support, refers to an Iraqi request from UN investigators to hand over the documents they collected about ISIS crimes to Iraqi institutions with the aim of holding members of the organization accountable and the people who provided it with financial support.

The investigation team was formed to enhance accountability for crimes committed by ISIS in 2017, in accordance with UN Security Council Resolution 2379 and at the request of the Iraqi government.

Last June, Special Adviser and Head of the Investigative Team, Christian Reicher, told the UN Security Council that investigators were gathering evidence of ISIS “developing and using chemical weapons,” as well as strengthening their evidence of sexual and gender-based violence and the organization’s crimes against Sunni children. Shiites, Yazidis and Christians.

The British delegate to the United Nations, Barbara Woodward, indicated in her speech before the Security Council that the team “was able during the last period to help Iraq open mass graves, facilitate the return of remains to their families, and work closely with Iraqi judges and investigators, specifically in the field of collecting evidence.” ".

She pointed out that "the team provided the opportunity for survivors, including female survivors, of sexual and gender-based violence to give their tribute safely and with full respect for their rights."

She noted that the team was able to provide "psychosocial treatment in partnership with the Iraqi Ministry of Health, which had a real impact on the survivors."

The resolution adopted by the Security Council calls on the Secretary-General of the United Nations, António Guterres, to submit a report by next January, including his recommendations on demanding that Iraq hand over the evidence collected by the UNITAD team.

The Security Council also called on the team to determine, with the approval of the Iraqi government, ways to share evidence with other countries, and to inform Baghdad before handing over any evidence to a third country.

The British delegate pointed out that her country is working with the Iraqi government to "continue the team approach in Iraq and the whole world."

On September 13, ISIS survivor and Nobel Peace Prize winner Nadia Murad and human rights lawyer Amal Clooney expressed, in a joint statement, their support for the team’s mission and their concern that its mandate might not be extended.

They stated that the evidence collected by the team shows the "depth of ISIS' brutality, not only against the Yazidi Kurds, but also against all other components."

Nadia Murad and Amal Clooney called for extending the team's mandate in order to protect evidence and use it in future judicial procedures and to build Iraqi capabilities in "investigating and holding accountable international crimes."

Last August, the Special Adviser and Head of the United Nations Investigative Team to Promote Accountability for ISIS Crimes (UNITAD), Christian Richter, confirmed during a media statement that the team is now working in joint teams with the Iraqi legislative body (House of Representatives) on a local law on international crimes. in Iraq.

He pointed to good communication with the Iraqi government regarding the Yazidi Women Survivors Law, adding that it is not within the powers of UNITAD to work to compensate those affected.    LINK

Iraq Economic News and Points to Ponder Saturday Afternoon 9-16-23

Iraq Economic News and Points to Ponder Saturday Afternoon  9-16-23

Tlm724 Administrator Bondlady’s Corner

With The Stock Market Closed...The Dollar Rises In Baghdad And Erbil

Economy  Saturday, September 16, 2023 Baghdad/National News Center  Dollar prices rose today, Saturday, in Baghdad markets, and decreased in Erbil with the closure.

The National News Center correspondent said, “Dollar prices rose with the closure of the Al-Kifah and Al-Harithiya stock exchanges to record 156,200 dinars against 100 dollars, while dollar prices recorded this morning 155,800 dinars against 100 dollars.”

He added, “Selling prices in exchange shops in local markets in Baghdad stabilized, as the selling price reached 156,500 Iraqi dinars for 100 dollars, while the purchase price reached 155,000 dinars for 100 dollars.”

As for Erbil, the dollar recorded an increase, as the selling price reached 156,500 dinars for every 100 dollars, and the purchasing price was 155,700 dinars for every 100 dollars.  https://nnciraq.com/227214/

Parliamentary Finance Hosts The Ministers Of Oil And Natural Resources

Noah:  The Finance Committee decided to host the Deputy Prime Minister and Minister of Oil, Hayan Abdul Ghani, and the Minister of Natural Resources and Agency in the Kurdistan Region, Kamal Muhammad Salih, to discuss the region’s oil exports and deliver the allocated quantity to the federal government in accordance with the budget law, in addition to resuming exports from the pipeline to the port. Jihan Al-Turki.

Committee member Muhammad Nouri said in a press statement that the Parliamentary Finance Committee decided to host Abdul-Ghani and Saleh in the coming days, to review the most important private oil matters in the Kurdistan Region, and to reach an understanding with the region regarding oil exports and revenues and handing them over to the federal government.

He added that during the hosting, the volume of oil revenues for the region and their delivery to Baghdad will be known, and the real numbers regarding oil exports and the financial revenues generated from them will be determined.

He continued by saying that the Parliamentary Finance Committee will discuss during the hosting the issue of resuming the resumption of oil exports via the Turkish Ceyhan line, and where the dialogues and understandings with the Turkish side have reached in this regard.

Article 13 of the budget obligates the Kurdistan Region to deliver at least 400,000 barrels of crude oil on a daily basis to SOMO for export through the port of Ceyhan, or to use it locally if it is not exported.

https://www.radionawa.com/all-detail.aspx?jimare=35705

At The Request Of Iraq...The Security Council Decides To End The Mandate Of “UNITAD”

NOAA:  The UN Security Council decided to end the mandate of the investigation team to enhance accountability for crimes committed by ISIS, “UNITAD,” in September 2024.

Yesterday evening, Friday, the Council voted unanimously to end the mandate of UNITAD after a year, at the request of the Iraqi government.

The resolution, which was prepared with British support, refers to an Iraqi request from UN investigators to hand over the documents they collected about ISIS crimes to Iraqi institutions with the aim of holding members of the organization accountable and the people who provided it with financial support.

The investigation team was formed to enhance accountability for crimes committed by ISIS in 2017, in accordance with UN Security Council Resolution 2379 and at the request of the Iraqi government.

Last June, Special Adviser and Head of the Investigative Team, Christian Reicher, told the UN Security Council that investigators were gathering evidence of ISIS “developing and using chemical weapons,” in addition to strengthening their evidence of sexual and gender-based violence and the organization’s crimes against Sunni children. Shiites, Yazidis and Christians.

The British delegate to the United Nations, Barbara Woodward, indicated in her speech before the Security Council that the team “was able during the last period to help Iraq open mass graves, facilitate the return of the remains to their families, and work closely with Iraqi judges and investigators, specifically in the field of collecting evidence.” ".

She stated, "The team provided the opportunity for survivors, including female survivors, of sexual and gender-based violence to give their testimonies safely and with their rights fully respected."

She noted that the team was able to provide "psychosocial treatment in partnership with the Iraqi Ministry of Health, which had a real impact on the survivors."

The resolution adopted by the Security Council calls on the Secretary-General of the United Nations, António Guterres, to submit a report by next January, including his recommendations on demanding that Iraq hand over the evidence collected by the UNITAD team.

The Security Council also called on the team to determine, with the approval of the Iraqi government, ways to share evidence with other countries, and to inform Baghdad before handing over any evidence to a third country.

The British delegate pointed out that her country is working with the Iraqi government to "continue the team approach in Iraq and the whole world."  https://www.radionawa.com/all-detail.aspx?jimare=35696

Trade: Iraq Was Not Affected By The Global Crisis Regarding Rising Food Prices

Saturday 16, September 2023 11:31 | Economical Number of readings: 363

Baghdad / NINA / The Ministry of Commerce confirmed, today, Saturday, that Iraq was not affected by the global crisis, with regard to the rise in food prices, thanks to the regular distribution of the food basket on time.

Ministry of Commerce spokesman, Muthanna Jabbar Al-Fariji, told the official agency, “Iraq was not affected by the global crisis, with regard to the rise in food prices, thanks to the regular distribution of the food basket on time.”

Al-Fariji added: “With regard to the global crisis that the world has gone through, which is related to the rise in food prices, as well as the wheat crisis and the problems of implementing Ukrainian wheat contracts to the Turkish side, in addition to the intervention of the Russian authorities in preventing wheat from reaching the Turkish side, and the great confusion it caused in The movement of global market prices for foodstuffs, Iraq did not feel the magnitude of the crisis, thanks to the regular distribution of food baskets to Iraqi families.”

He continued: “The basket program is stable and has made a significant contribution to stabilizing prices in the local food market, and has helped heads of families reduce the burden on them in terms of purchasing power,” pointing out that “the food basket program, over two years, has completed 19 baskets, of which 11 will be in the year 2022.” And 8 baskets during the current year until the present day.”

He stressed that "work is continuing, and the Ministry of Commerce's warehouses contain good quantities of storage, in addition to the strategic storage, in addition to the arrival of all the basket materials to the agents. The citizens received all the basket items at once, which created stability and satisfaction among the citizens."

He explained, "This stability was evident in the questionnaires conducted by the Ministry in all governorates, as it was found that most of those whose opinions were taken in the questionnaire were satisfied with the quantities of basket materials received." 

Al-Fariji explained, “The Ministry hopes that the government’s support will continue, and that the basket program will continue to be supportive and supportive of Iraqis, those with limited income, and those below the poverty line.”/End  https://ninanews.com/Website/News/Details?key=1078060

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

https://www.bondladyscorner.com/

Points to Ponder on Gratitude:

You must give some time to your fellow men. Even if it's a little thing, do something for others -The great art of giving consists in this: the gift should cost very little and yet be greatly coveted, so that it may be the more highly appreciated.  Baltasar Gracian

Gratitude is born in hearts that take time to count up past mercies.  Charles E. Jefferson (1860 - 1937)

Gratitude is not only the greatest of virtues, but the parent of all others.   Cicero (106 BC - 43 BC), 'Pro Plancio,' 54 B.C

The excellence of a gift lies in its appropriateness rather than in its value.  Charles Dudley Warner (1829 - 1900), 'Eleventh Study,' Backlog Studies, 1873

Gratitude is merely the secret hope of further favors.   Francois de La Rochefoucauld (1613 - 1680)

A compliment is a gift, not to be thrown away carelessly, unless you want to hurt the giver. Eleanor Hamilton

Gratitude is the most exquisite form of courtesy.  Jacques Maritain (1882 - 1973), Reflections on America, 1958

"Tidbits From TNT" Saturday 9-16-2023

TNT:

CandyKisses:  Sudani and Fouad Hussein with world leaders in New York

World leaders will meet at the United Nations next week amid geopolitical tensions largely fueled by Ukraine's war, with Russia and China competing on one side with the United States and Europe on the other for the support of developing countries.

The Iraqi delegation will participate in the meetings of the United Nations General Assembly, headed by Prime Minister Mohammed Shia al-Sudani and Foreign Minister Fuad Hussein, and will meet there with many world leaders, according to Foreign Ministry spokesman Ahmed al-Sahaf.

Foreign Minister Fuad Hussein arrived yesterday in New York to participate in the meetings of the United Nations General Assembly.

Russia's war in Ukraine will be the focus again at the annual gathering in New York, which Ukrainian President Volodymyr Zelensky will attend in person for the first time since the conflict began.

Also on the agenda for this year's meetings are the concerns of the southern hemisphere, and the focus on this is partly a reflection of the growing interest of Western countries in developing countries to ensure their support in efforts to isolate Russia.

Several high-level meetings during the General Assembly will focus on the priorities of developing countries in Africa, Latin America and Asia: climate, health, development finance and how to put the Sustainable Development Goals on track.

Ahead of the New York meetings, diplomats acknowledged their focus on developing countries, but denied suggestions that rivalry played a role.

Tishwash:  To control the money... Parliamentary Finance accuses America of putting pressure on the Central Bank

On Saturday, a member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, accused the United States of America of putting pressure on the Central Bank of Iraq by preventing the Federal Bank from accessing the funds.  

Al-Kadhimi said in an interview with the Maalouma Agency, that “American dominance over the work of the Central Bank must be consistent with the vision of the Federal Reserve and the American Treasury.”

He added, "There are efforts being made by the Central Bank of Iraq to reach merchants' remittances throughout the world."

Al-Kadhimi pointed out that "remittances issued by the Central Bank of Iraq to merchants to import goods continue despite American pressure."

Member of Parliamentary Finance, Mustafa Sanad, had previously confirmed that America is leading colonialism and international blackmail against Iraq by causing an increase in the dollar exchange rate, criticizing the silence of the political blocs regarding this. link

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CandyKisses:  The US Treasury Department reveals the secrets of its assistant visit to Iraq and its meeting with senior officials

Baghdad - Iraq Today: 2023/09/16 10:03

The US Treasury Department announced that Assistant Secretary Elizabeth Rosenberg discussed with Iraqi officials during her visit to Baghdad raising the level of the Iraqi banking sector to "international standards" and "preventing violations" of US sanctions.

US Assistant Secretary of the Treasury for Combating the Financing of "Terrorism" and Financial Crimes, Elizabeth Rosenberg, visited Baghdad on September 12 and 13, and held meetings with Iraqi officials, led by Prime Minister Mohammed Shia al-Sudani and Central Bank Governor Ali Al-Alaq.

In a statement about the visit, the US Treasury Department noted that Elizabeth Rosenberg met with the prime minister and officials of the Central Bank, the Iraqi Economic Intelligence Unit, the Commercial Bank of Iraq and representatives of private banks.

Recognizing the challenges and future opportunities for the development of Iraq's financial sector, the two sides "declared their commitment to continue working together and taking positive steps towards meaningful and long-term reforms, in order for Iraq to live up to international standards, and prevent falsity, sanctions violations, terrorist financing and other illegal acts," she said.

Earlier, US State Department spokesman, Matthew Miller, said in a press interview that the US Treasury Department discussed with the Iraqi government the opportunities and challenges facing the financial sector in Iraq, and ways to develop the sector and raise it to the level of international standards.

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Tishwash:  Iraq is in the first quarter of the list of the most powerful and influential countries around the world

Iraq is ranked 50th globally and fourth in the Arab world in the most influential countries in the world, according to CEOWORLD magazine, which specializes in statistics.

The magazine stated in a report seen by Shafaq News Agency, “The United States topped the list of the most influential countries in the world in 2023, with 95.29 points, out of 195 included in the table, as it leads the world in the fields of science, sports, technology, etc., and the country is distinguished by the strongest economy.” And army in the world, China ranked second with 95.09 points, Russia came in third place with 94.26 points, India came in fourth place with 94.16 points, and then France came in fifth place with 94.15 points.

According to the magazine, Germany came in sixth place with 93.63 points, then the United Kingdom came in seventh place with 93.47 points, Japan came in eighth place with 93.38 points, Saudi Arabia came in ninth place with 93.12 points, and Italy came in tenth place in the most influential countries in the world with 92.84 points.

Grenada ranked at the bottom of the world's least influential countries, ranking 195th globally with 45.74 points, preceded by the Comoros Islands, ranked 194th globally with 46.02 points, according to the statistics magazine.

In the Arab world, Saudi Arabia came in first place, the UAE came in second place and ranked 33rd globally with 88.36 points, Egypt came third in the world and ranked 41st in the world with 86.4 points, then Iraq came fourth and ranked 50th in the world with 83.1 points.

Qatar ranked fifth, ranked 55th, with 82.37 points, then Algeria came sixth, ranked 56th globally, with 82.28 points, then Kuwait, seventh, ranked 58th globally, with 82.05 points, Morocco eighth, ranked 61st globally, with 81.44 points, and Oman ninth, ranked 69th globally, 78.6 points. Jordan is tenth and ranked 91st globally with 72.96 points. link

Mot: .. finally !! -- I Say!!!

Mot:  . Crazy Times OUt There fur Sure!!!

Iraq Economic News and Points to Ponder Saturday AM 9-16-23

Iraq Economic News and Points to Ponder Saturday AM 9-16-23

The Dollar Crisis Is “Political”... Who Is Behind It And Who Is The Target?

Baghdad today - Baghdad   The continued manipulation of the dollar exchange rate, and the Iraqi street’s anger at the government, which seeks to control the market at times by pursuing speculators and at other times by overthrowing smugglers, but “blame” is still following the government of Prime Minister Muhammad Shiaa Al-Sudani. “Baghdad Al-Youm” opened the file of the rise in dollar exchange rates to stop at Causes and targets of the crisis.

Today, Saturday (September 16, 2023), the dollar exchange rates recorded a new high, as the selling price reached 157,000 dinars per 100 dollars, while the purchase price reached 155,000 dinars per 100 dollars.

The Crisis And Its Causes

Political analyst Kazem Al-Hajj confirms today, Saturday (September 16, 2023), that the continuation of the dollar crisis in Iraq is “political,” among the reasons behind it.

Al-Hajj told “Baghdad Today” that “it is beyond doubt that the dollar crisis in Iraq that has been going on for months is political, and its aim is to target Prime Minister Muhammad Shiaa al-Sudani and his government.”

He explains that “this targeting is behind the United States of America and internal political parties that are manipulating the market .  ”

He stated that "the political targeting of the Sudanese and his government through the dollar crisis is very clear, especially after the Prime Minister succeeded in many service files."

Al-Hajj adds, "There are those who do not want that success by inflaming the economic situation, which has a direct impact on the citizen."

New Sanctions Loom On The Horizon

On a related level, a senior official at the US Treasury Department says 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, money laundering, and Iran’s evasion of 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, who spoke on condition of anonymity to Reuters, stated that there are still other Iraqi banks operating with risks that “must be addressed” despite the campaign.

 Source: Baghdad Al-Youm + agencies    LINK

An American Threat Related To The Price Of The Dollar In Iraq And The Million Jobs Provided By Tehran.. What Is The Relationship Between Travelers?

Economy | Baghdad today - Baghdad   For more than nine months, and specifically since the Central Bank began operating the electronic platform and international financial transfer system “SWIFT,” the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel (black) markets.

The exchange rate in the parallel markets is still recording a significant increase compared to the official rate, as the capital, Baghdad, recorded 156 thousand Iraqi dinars for every 100 US dollars, while the official exchange rate is 1,320 dinars to the dollar.

Economist Nabil Al-Marsoumi said today, Saturday (September 16, 2023), that the visit of US Assistant Secretary of the Treasury Elizabeth Rosenberg to Baghdad was not only related to assisting the Central Bank of Iraq in its efforts to achieve exchange rate stability, but rather the threat of additional sanctions on the Iraqi banking system in If dollar smuggling operations continue.

Al-Marsawi explained in a blog post published on his personal account on the Facebook platform and followed by “Baghdad Today”, that “despite the reforms carried out by the Central Bank to improve banks’ compliance to deal with the requirements of the electronic platform in the Central Bank of Iraq and the US Federal Bank, the results of which were that the majority dealt with it, Which led to a significant increase in the Central Bank’s sales, which averaged about $200 million per day.

However, the gap began to widen between the official and parallel prices of the dinar against the dollar, as the gap between them reached 20%, which is much larger than the recognized global levels of about 2%. Just".

 Iraqis in Iran

He continued, "The gap is linked to two important reasons: the first is the prevention of financial transfers through banking channels to countries sanctioned by the United States, especially Iran, which led to financing trade with them by purchasing dollars from the parallel market and then smuggling it to Iran, and the second: is the large demand from travelers.

" Iraqis go to Iran for dollars from the parallel market, because the instructions of the Central Bank do not allow them to buy dollars at the official price, which is a large demand, because Iraqi travelers to Iran constitute 55% of the total foreign tourists in Iran, and Iraqis have spent about 3.410 billion dollars in 2022 in Iran.” https://baghdadtoday.news/uploads/posts/2023-09/20181107_023515-849.jpg

Al-Marsoumi continued, “Iranian exports of non-oil goods to Iraq amounted to $10.3 billion in 2022, or about 20% of Iran’s total non-oil exports in 2022, as Iran currently supplies 8.2% of Iraq’s needs in the machinery sector, and 26.7% in the field of agriculture.” Industry and foodstuffs, 18.9% of the country’s mineral needs, 55% of building materials, 48% of refinery products, and 28% of petrochemical products. The majority of goods that Iran exports to Iraq are among the goods that lead to job creation and have high added value.”

 A Million Professions

The economic expert added, “Studies indicate that more than a million jobs are provided by the Iranian export sector to Iraq, and therefore the gap between the official and parallel prices of the dinar against the dollar cannot be reduced or neutralized by canceling the US sanctions on Iran so that Iraq’s imports from it can be financed through... Banks, or by cutting off Iraq’s imports from Iran and preventing Iraqis from traveling to it, which is what the United States seeks as a strategic goal in order to strangle Iran economically, and it is a goal fraught with risks due to the great economic importance of Iraq in the Iranian economic strategy.”

On Friday (September 15, 2023), the US Treasury Department called for the need to improve the financial sector in Iraq and limit the financing of terrorism.

The US Treasury said in a statement that it agreed with Iraq to work to improve the financial sector to prevent fraud, sanctions evasion, terrorist financing, and other illegal activities.

On September 12 and 13, the US Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes, Elizabeth Rosenberg, met with the Prime Minister, the Central Bank of Iraq, and representatives of Iraqi private sector banks in Baghdad.

The statement said, "The two sides agreed that there are opportunities and challenges to improve the financial sector in Iraq, and to work together towards meaningful and sustainable reforms, to bring Iraq to international standards and prevent fraud, sanctions evasion, terrorist financing, and other illegal activities."

 New Penalties

In parallel with the US official's visit to Baghdad, a senior US Treasury official said 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, money laundering, and Iranian evasion. Of penalties.

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, who spoke on condition of anonymity to Reuters, stated 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.

An American threat related to the price of the dollar in Iraq and the million jobs provided by Tehra

Illegal Activity

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.

“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."

The official stated that the government of Iraqi Prime Minister Muhammad Shia al-Sudani, who was appointed in October 2022, had been cooperative and had made “progress,” something that “was not necessarily the case” 10 to 15 years ago.

The US Treasury Department official said that despite this, there are still “special interests who feel comfortable with the current situation and may raise concerns in the event of change,” but he did not reveal the identity of these stakeholders.   LINK

A New Reason For The Rise In The Dollar Exchange Rate In Iraq - Urgent

Sweeteners | Baghdad today - Baghdad   Today, Saturday (September 16, 2023), expert in financial and economic affairs, Rashid Al-Saadi, revealed the reason for the rise in the dollar exchange rate in the local market.

Al-Saadi told "Baghdad Today", "The reason for the rise in the dollar exchange rate is the blocking of (50) banking companies from dealing in the dollar, and this greatly affected the supply of the dollar in the local market, which led to its rise."

He stated that “the blocking of these companies was carried out by the Central Bank, due to manipulation of the dollar share of these ATMs allocated to travelers according to the share approved by the Central Bank, and according to the information that reached us from the Central Bank of Iraq, the problem of these ATMs will be solved, which leads to... The dollar was reduced again in the local market. LINK

The Dollar Continues To Fly High In The Markets Of Baghdad And Kurdistan

2023-09-16 02:15  Shafaq News/ The exchange rates of the US dollar against the Iraqi dinar continue to rise, recording new numbers, today, Saturday, in the markets of the capital, Baghdad, and in Erbil, the capital of the Kurdistan Region.

Shafaq News Agency correspondent said that dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 155,800 dinars against 100 dollars, while selling prices last Thursday recorded 155,600 dinars.

Our correspondent indicated that selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 157,000 Iraqi dinars, while the purchasing price reached 154,000 dinars for every 100 dollars.

As for Erbil, the stock market does not trade on official holidays, but the dollar recorded an increase in exchange shops, where the selling price reached 156,050 dinars, and the purchase price was 155,900 dinars for every 100 dollars. LINK

Points to Ponder on Wealth:

There is a burden of care in getting riches; fear in keeping them; temptation in using them; guilt is abusing them; sorrow in losing them; and a burden of account at last to be given concerning them. --
M Henry

The acquisition of wealth is a work of  great labor; its possession a source of continual fear; it loss, of excessive grief. -- From the Latin 

Agur said, "Give me neither poverty nor riches"; and this will ever be the prayer of the wise. Our incomes should be like our shoes: if too small, they will gall and pinch us, but if too large, they will cause us to stumble  and to trip. But wealth, after all, is a relative thing, since he that has little, and wants less, is richer than he that has much, but wants more. True contentment depends not upon what we have; a tub was large enough for Diogenes, but a world was too little for Alexander. -- Colton 

Our wealth is often a snare to ourselves, and always a temptation to others. -- Colton

Men pursue riches under the idea that their possession will set them at ease and above the world.  But the law of association often makes those who begin by loving gold as a servant, finish by becoming its slaves; and independence without wealth is at least as common as wealth without independence. -- Colton

In proportion as nations become more corrupt, more disgrace will attach to poverty and more respect to wealth. -- Colton

The larger the income, the harder it is to live within it. -- Whately

Iraqi Economic News & Points to Ponder Late Friday Evening 9-15-23

Iraqi Economic News & Points to Ponder Late Friday Evening  9-15-23

Tlm724 Administrator Bondlady’s Corner

The Kurdish Delegation: These Are The Results Of The Meetings With The Presidencies And Leaders Of The Political Blocs

Friday 15, September 2023 11:07 | Political Number of readings: 517   Baghdad / NINA / The delegation of the Kurdistan Regional Government revealed the results of its meetings with the presidencies and political leaders in the capital, Baghdad.

The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, said, during a press conference at Baghdad International Airport early in the morning on Friday, that “the delegation of the Kurdistan Regional Government held extensive and lengthy discussions with the Prime Minister, the President of the Republic, the Speaker of Parliament, and leaders of other political parties.”

 He added, “The delegation proposed He presented two proposals, one short-term and the other long-term, to provide financial dues to Kurdistan,” indicating that “the long-term solution may require legislation and some changes and amendments to some laws, and we will work on it later.” He continued to say, “The current solution is linked to the Iraqi Council of Ministers meeting next Sunday, May 17.

” This September,” noting: “There is good news and a solution to the current problems as soon as possible.”   https://ninanews.com/Website/News/Details?key=1077901

Oil Prices Jump To The Highest Level In 10 Months

Economy | 09:21 - 09/15/2023  Baghdad - Mawazine News  Oil prices rose to their highest level in 10 months in early trading on Friday, after China reduced banks’ cash reserve requirements to boost its economic recovery, and amid expectations that the cycle of raising global interest rates will soon end.

Tina Teng, an analyst at CMC, said that reducing mandatory reserve requirements in China contributed to raising the prices of energy and industrial metals in general, adding that Chinese industrial production and retail sales data may be a market driver later on Friday.

As Edward Moya, an analyst at OANDA, said, “Betting on oil has become a favorite trade on Wall Street. No one doubts that the OPEC+ decision at the end of last month will keep the oil market in a very tight state in the fourth quarter.”

By 0303 GMT, Brent crude rose 63 cents, equivalent to 0.6 percent, to $94.31 a barrel, while US West Texas Intermediate crude rose 0.8 percent to $90.86. This is the highest trading level for the two benchmarks since November.

Ongoing concerns about supply, and expectations that the US central bank will keep interest rates unchanged, have put oil prices on track to close higher for the third week in a row.

Higher interest rates increase borrowing costs for businesses and consumers, which may slow economic growth and reduce demand for oil.    https://www.mawazin.net/Details.aspx?jimare=235002

Instead Of The President Of The Republic, The Sudanese Participates In The United Nations General Assembly Meeting

Political | 12:41 - 09/15/2023  Baghdad - Mawazine News An informed source reported that Prime Minister Muhammad Shiaa Al-Sudani is scheduled to participate in the annual meeting of the United Nations General Assembly next week.

The source said in an interview with Mawazine News, “Prime Minister Muhammad Shiaa Al-Sudani is scheduled to participate, instead of President Abdul Latif Rashid, in the annual meeting of the United Nations General Assembly, next week.”

The United Nations General Assembly meeting scheduled to be held on Monday, September 18, 2023, will be held at the organization’s headquarters in New York City, and Al-Sudani will deliver Iraq’s speech there.   https://www.mawazin.net/Details.aspx?jimare=235012

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

https://www.bondladyscorner.com/

Points to Ponder onThe Value of Challenge:

Challenge is life's way of making sure that you truly desire the things you achieve. Challenge is an excellent tool for keeping you focused on the things that really matter to you.

Imagine for a moment what it would be like to live in a world with no challenge. In such a world, you could obtain anything and everything with no need for effort, discipline or commitment. Does that sound like a great setup, with your every wish fulfilled the moment you think of it?

Well, it might be nice for 20 minutes or so,but it would soon grow extremely tiresome. For such a world would literally overwhelm you with meaningless triviality.

Sure, every wish would be instantly granted, but it would all be painfully empty.

The value of achievement is in the achieving, in the overcoming of the challenges, in the person you become as a result of going through the process.

To have the reward without the effort is to have no reward at all,  nothing but an empty and meaningless token.

Challenge is difficult, often painful, always demanding, and as  such, challenge is what makes true value, beauty and fulfillment  possible. Challenge can be tough, yet indeed it brings about the richness and fullness of life.

Ralph Marston

Goldilocks' Comments and Global Economic News for September 15th

Goldilocks' Comments and Global Economic News for September 15th

Good evening Dinar Recaps,

On January 20, 2024, Global Gold Monetary Fund will launch it's gold-backed currency in the Philippines.

This is a move into a gold-backed currency. Countries around the world are being invited to do the same through the GGMF.

It is a return to the gold standard for the Philippines, and it will serve as a starting point for many countries to do the same who choose to do so.

© Goldilocks

https://www.manilatimes.net/2023/09/15/public-square/global-gold-monetary-fund-fosters-gold-backed-currency/1910062

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2023 G20 Sustainable Finance Report finalised in Varanasi meeting - Hindustan Times
https://www.hindustantimes.com/cities/others/2023-g20-sustainable-finance-report-finalised-in-varanasi-meeting-101694693921068.html

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Gold as International Reserves: A Barbarous Relic No More?

https://www.imf.org/en/Publications/WP/Issues/2023/01/27/Gold-as-International-Reserves-A-Barbarous-Relic-No-More-528089

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US committee recommends royalties on minerals for EVs in sweeping reform proposal

Sept 12 (Reuters) - "A federal committee on Tuesday recommended imposing royalties on U.S. hard rock mining for the first time, a move it said could increase domestic production by providing funds for the agencies in charge of issuing new mining permits.

The proposal was part of a suite of recommendations aimed at increasing supply of the materials like lithium, cobalt, and nickel that are needed for a domestic electric vehicle (EV) industry that is key to President Joe Biden's climate agenda."

https://www.reuters.com/markets/commodities/us-committee-recommends-royalties-minerals-evs-sweeping-reform-proposal-2023-09-12/

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Live Gold Prices | Gold News And Analysis | Mining News | KITCO

Kitco News - The Society for Worldwide Interbank Financial Telecommunications (Swift) recently released the results of experiments it conducted with Chainlink (LINK), a leading Web3 service platform, which demonstrated that Swift infrastructure is capable of facilitating the transfer of tokenized value across multiple public and private blockchain networks.

https://www.kitco.com/news/2023-09-15/Swift-is-laying-the-groundwork-for-a-global-interoperable-blockchain-ecosystem-SDX-s-Alex-Kech.html

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Payments GPS:

Cross-Border International Trading is now traceable in real time.

“We have witnessed a high demand for transparency in the cross-border payments space. Our vision for Payments GPS is to provide clients and partners with one interface where they can track all payments across Corpay’s networks. And we don’t plan on stopping here. We’re on a mission to continue improving our infrastructure and data-sharing across all networks so we can continue delivering leading-edge transparency.”

This will allow the movement of money to be more transparent and secure especially in high volume trading of foreign currency between countries.

© Goldilocks

https://www.crowdfundinsider.com/2023/09/212870-corpay-cross-border-introduces-payments-gps-for-live-payment-tracking/

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With These 2 Achievements, Ripple Can Start Revolutionizing Tokenization: Expert

https://cryptopotato.com/with-these-2-achievements-ripple-can-start-revolutionizing-tokenization-expert/

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Quantum Xchange Takes Center Stage at Premier Tech Conferences, Championing the Future of Encryption

The Case for Quantum Security in the Enterprise

https://www.businesswire.com/news/home/20230912250315/en/Quantum-Xchange-Takes-Center-Stage-at-Premier-Tech-Conferences-Championing-the-Future-of-Encryption

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The biggest oil deficit since 2007 will hit in the 4th quarter as Saudi Arabia cuts supply
https://markets.businessinsider.com/news/commodities/oil-supply-deficit-crude-prices-opec-saudi-arabia-russia-production-2023-9

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Iraqi Banking Announcement:

"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"
Delarue Currency Counting Machines are currently being installed inside the Iraqi Banks.

This is especially important for foreign currency exchanges outside of the Middle East banking system such as currencies related to the Dollar and the Euros.

These machines will count the money and throw out counterfeit bills.

© Goldilocks

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

https://www.hyundaimib.com/tech-guide/#:~:text=Technology%20Guide%20about%20Banknote%20Counting,check%20damaged%20or%20counterfeit%20notes.

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Banking Bombshell! The Real Reason Behind Those Wells Fargo Emails! Inside the Exclusive World of Redemption Centers! - Gazetteller
https://gazetteller.com/banking-bombshell-the-real-reason-behind-those-wells-fargo-emails-inside-the-exclusive-world-of-redemption-centers/

👆 Look where the Redemption Centers are...

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Banking Announcement:
Iraq is beginning to advance their banking reforms.

© Goldilocks https://youtu.be/eVJKTvZ6BSg?feature=shared

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The United Auto Workers (UAW) began a strike on Friday against all three of Detroit's legacy automakers, in an unprecedented move that could initiate a costly and protracted struggle over wages and job security.

After the midnight deadline for a new contract passed, workers walked out on a Ford Motor Co. plant in Michigan that makes Bronco SUVs, a General Motors Co. factory in Missouri that assembles Chevrolet Colorado pickups and a Stellantis NV plant in Ohio that builds Jeep Wrangler SUVs. The union and automakers are still far apart after weeks of talks.

The strategy, which is focused on individual plants, is designed to gradually reduce production of profitable vehicles while minimizing the impact on the UAW strike fund.

The union stated that it will expand the strike to additional locations depending on the progress of negotiations.

“Tonight, for the first time in our history, we will strike all three of the Big Three at once,” UAW President Shawn Fain said late Thursday. “This strategy will keep the companies guessing. It will give our national negotiators maximum leverage and flexibility in bargaining. And if we need to go all out, we will.”

The union said 12,700 workers at three plants will be part of the initial action. UAW members will get $500 a week from the union in strike pay.

https://twitter.com/MultiPolarMarkt 

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Tokenizing Traditional Assets: The Rise of Blockchain-Based Securities in 2023
https://www.coindesk.com/business/2023/09/14/the-tokenization-of-assets-is-underway/

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Follow Goldilocks' Roadmap

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Thank you Dinar Recaps

Paper Checks Are Dead. Cash Is Dying. Who Still Uses Them?

Paper Checks Are Dead. Cash Is Dying. Who Still Uses Them?

Andrew Van Dam, (c) 2023, The Washington Post

Fri, September 15, 2023

In a few years, comically oversized foam-board novelty checks will be the last remaining evidence of a 20th-century icon, as the paper check goes the way of the landline phone and the floppy disk. Even the most dubious cliché of the past century - the promise that the check's in the mail - has fallen from common usage.

So where - if anywhere - are paper checks making their last stand? That's what astute reader Bill O'Donnell from Chicago wants to know. "How many Americans still use paper checks?" he asks. "Who are they and where do they live? What are the trend lines?"

Let's start with the trend lines, Bill! They, uh, point down. At the turn of the millennium, back when recording each transaction on paper might still have seemed like a good way to outfox the Y2K bug, they were the default for anyone not handing over cash.

Back then, 6 out of every 10 noncash purchases, gifts and paid bills were handled with checks. A mere two decades later, just 1 in 20 are. The paper check's fall from grace has been meteoric, in the plummeting-so-fast-it-immolates-in-the-mesosphere sense.

As recently as 2003, the Federal Reserve ran 45 check-processing locations in which brigades of workers routed each check. A decade later, it was operating just one, in Atlanta, as check usage fell and the Fed executed a long-planned transition to a largely electronic system. The checks were also processed faster, meaning even fewer of them were, as the cliché went, in the mail.

We don't know exactly when the paper check peaked, because the Fed wasn't consistently measuring transaction methods until after the decline began. In the future, officials hope to stay ahead of our payment preferences. If we were to ditch cash at the rate we gave up checks, for example, the Fed's enormous cash-processing operations might require a sudden and substantial overhaul.

"[People were] caught off guard by the rate at which check-writing dropped off the map," said the Atlanta Fed's Kevin Foster, who has spent more than a decade measuring Americans' payment habits. "We don't want to be caught off guard the same way with cash!"

To continue reading, please go to the original article here:

https://finance.yahoo.com/news/paper-checks-dead-cash-dying-173012508.html

"Tidbits From TNT" Friday 9-15-2023

TNT:

CandyKisses:  Instead of the president of the republic. Al-Sudani participates in the meeting of the United Nations General Assembly

Baghdad - Mawazine News

Prime Minister Mohamed Shaia Al-Sudani is scheduled to participate in the annual meeting of the United Nations General Assembly next week, a source familiar with the matter said.

The source said in an interview with Mawazine News that "Prime Minister Mohammed Shiaa Al-Sudani instead of President Abdullatif Rashid will participate in the annual meeting of the United Nations General Assembly, next week."

The United Nations General Assembly meeting to be held, Monday, September 18, 2023, will be held at the organization's headquarters in New York City, and Sudani will deliver Iraq's speech there.

Tishwash:  The financial advisor reveals understandings to exclude the dollar in commercial dealings with Iran

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed on Thursday that “there is an understanding on the horizon with Iran to use a basket of foreign currencies other than the dollar to settle commercial transactions between Iraq and Iran.”

Saleh said in a statement followed by Al-Maalouma, “Allowing an international means of payment other than the dollar and identifying trade flows in a transparent and highly governance manner with the Islamic Republic of Iran within the international trading system will undoubtedly contribute to the stability of the exchange market in Iraq, in addition to enhancing the stability of the payments system.” Foreign Affairs in our country, and leads to high stability in trade and financial movements without negative monetary effects on our national economy.”

He added: “Therefore, there is a high understanding on the horizon in using a basket of foreign currencies other than the dollar to settle commercial transactions with the neighboring country, Iran, without this constituting an international obstacle, and at the same time providing the desired monetary stability in our country, especially the foreign currency market.”

He pointed out, “It is clear that there is a correlation between trade with the Islamic Republic of Iran on the part of the Iraqi private sector and the need to have an international payment currency to settle trade exchanges, at a time when there is a ban by the United States in the field of financial transfers that was imposed on Iran more than a decade ago.” time, and is subject to high degrees of strictness.”

He continued: "Such requirements led, over time, to dealing with commercial settlements in foreign currency, but from outside the official markets, especially in the demand for cash dollars on the local black market."

Mazhar Muhammad Saleh continued, stressing that “it has become logical to find an alternative international monetary medium for trade settlements with the neighboring country instead of the United States currency.

The alternative monetary medium is used in a transparent and clear manner before the international financial community and at the same time spares the local exchange market from the pressures of international restrictions, their complications and their effects on the economy.” "Our country." link

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Tishwash:  Hong Kong is the bridge between the region's country and China

As Hong Kong prepares to host the Belt and Road Initiative summit, its focus is increasingly turning to the Gulf region to consolidate ways of investment and trade cooperation.

The Chinese Special Administrative Region has been working to strengthen its ties with the Middle East since 2013, when the Belt and Road Initiative was launched, and Hong Kong seeks to attract more companies from the region, confirming its pivotal role in trade relations between China and the countries of the region.

Analysts reported in an interview with the Arabian Gulf Business Insight platform that one of the topics of the discussion will include a free trade agreement between Hong Kong and the United Arab Emirates.

Albert Wong, CEO of the Hong Kong Science and Technology Parks, said last month that the city's doors are open to business, especially in the field of innovation, adding: “We want to attract technology companies in the Middle East to enter the market in Hong Kong on a two-way path.”

Ahead of the Belt and Road Initiative summit, Jamie Chiang, acting director-general of investment promotion at state agency InvestHK, highlighted opportunities in biotechnology and artificial intelligence.

A number of sectors such as food, tourism, culture and retail are also in the mix following the launch of a $4 billion government investment fund targeting technology companies in Hong Kong.

The UAE is Hong Kong's largest trading partner in the Middle East, and the total value of trade exchange for non-oil products reached $11.7 billion during 2022, an increase of 40% over the past five years.

In February of this year, Dubai Chambers announced the opening of an office in Hong Kong, following a visit to the United Arab Emirates and Saudi Arabia by John Lee, the CEO of the region.

Emirates Airlines also announced last week the addition of a third daily flight to Hong Kong starting in November to “meet market demand.”

Redmond Wong, a Hong Kong-based Saxo Bank analyst, told Arabian Gulf Business Insight that the city has flourished as a “commercial hub” for trade and investment services, benefiting from China’s growth in global trade.

He added: “It is expected that this bilateral relationship will continue to develop, especially in light of the decline in trade relations with traditional partners such as the United States and Japan.” “The thriving economic ties between China and the Gulf Cooperation Council countries provide an important pathway for Hong Kong.”

The value of UAE exports to Hong Kong reached $10.7 billion in 2021, exceeding exports to mainland China, which amounted to $9 billion.

Redmond Wong continued: “This confirms Hong Kong’s role in re-exporting UAE imports to mainland China.”

Saudi Arabia is China's largest trading partner in the Middle East, with bilateral trade reaching $106 billion in 2022. It is followed by the United Arab
Emirates with $72 billion. More than 6,000 Chinese companies operate in the UAE

Vijay Valeisha, chief investment officer at Century Financial, said that the consolidation of Saudi Arabia and the UAE as regional leaders has led to an increase in the volume of trade between Hong Kong and other countries in the region.

He told Arabian Gulf Business Insight that the BRI summit is expected to result in a number of agreements in which technology will play a key role, saying: “The trade relations augur well for the growing technology sector in both the UAE and Saudi Arabia.”

Hong Kong's role as a nexus with China also represents an ideal location for GCC sovereign wealth funds to establish bases to conduct business from there.

“In essence, Hong Kong is emerging as the backbone that facilitates deeper economic integration between China and the GCC countries,” Redmond Wong said.    link

Mot:  .. Such a Special Moment forth coming!!!

Mot:  ... Such Fun Raising the ""Wee Folks"" snarky teenagers

Iraq Economic News and Points to Ponder Friday AM 9-15-23

Iraq Economic News and Points to Ponder Friday AM 9-15-23

An Understanding Looms On The Horizon Between Iraq And Iran To Use Currencies Other Than The Dollar In Commercial Transactions

September 14, 2023  Baghdad/Al-Masala Al-Hadath: The financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, confirmed that there is an understanding on the horizon with Iran to use a basket of foreign currencies other than the dollar to settle commercial transactions between Iraq and Iran.

Saleh said in statements followed by Al-Masala, that allowing an international means of payment other than the dollar and identifying trade flows in a transparent and highly governance manner with the Islamic Republic of Iran within the international trading system will undoubtedly contribute to the stability of the exchange market in Iraq, in addition to enhancing the stability of the external payments system in our country. It leads to high stability in trade and financial movements without negative monetary impacts on our national economy.

He added: Therefore, there is a high understanding on the horizon in using a basket of foreign currencies other than the dollar to settle commercial transactions with the neighboring country [Iran], without this constituting an international obstacle, and at the same time providing the desired monetary stability in our country, especially the foreign currency market.

He pointed out that it is clear that there is a correlation between trade with the Islamic Republic of Iran on the part of the Iraqi private sector and the need to have an international payment currency to settle trade exchange, at a time when there is a ban by the United States in the field of financial transfers that was imposed on Iran more than a decade ago. , and is subject to high degrees of stringency.

He continued: Such requirements led, over time, to dealing with commercial settlements in foreign currency, but from outside the official markets, especially in the demand for cash dollars on the local black market.

He concluded his speech by saying that it has become logical to find an alternative international monetary medium for trade settlements with the neighboring country instead of the United States currency. The alternative monetary medium is used in a transparent and clear manner before the international financial community and at the same time spares the local exchange market from the pressures of international restrictions, their complications and their effects on our country’s economy.

https://almasalah.com/archives/66534

The US State Department Welcomes The Discussions Between The Federal Government And The Region Regarding The Financial File

September 15, 2023  Baghdad/Al-Masala Al-Hadath: The US State Department welcomed, on Friday, the ongoing discussions between the Kurdistan Regional Government and the federal government regarding the monthly salaries of employees and workers in the public sector in the region and Kurdistan’s share of the financial budget.

Regarding the visit made by a delegation from the regional government yesterday, Thursday, to Baghdad, headed by the region’s Prime Minister, Masrour Barzani, and his deputy, Qubad Talabani, the US State Department told Kurdish media, “It welcomes the continuation of discussions between the Kurdistan Regional Government and the central government in Baghdad.”

The US State Department called on officials in both the federal government and the Kurdistan region to solve problems related to the budget, based on the constitution, and in a way that is in the interest of all Iraqis.

The regional government delegation visited Baghdad yesterday, Thursday, with the aim of holding discussions with the federal government regarding the monthly salaries of employees and workers in the public sector in the region and Kurdistan’s share of the budget.

In addition to its head, the delegation included: Qubad Talabani, Deputy Prime Minister of the region, Awat Sheikh Janab, Minister of Finance and Economy, Omid Sabah, Chief of the Cabinet Office, and Amanj Rahim, Secretary of the Council of Ministers.

The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, announced that the Kurdistan delegation had put forward two proposals, one short-term and the other long-term, to provide financial dues to Kurdistan, indicating that “the long-term solution may require legislation and some changes and amendments to some laws, indicating that they will work on it later.” As for the current solution, it is linked to the Iraqi Council of Ministers meeting next Sunday, September 17.”

He assured Barzani that there would be good news and a solution to the current problems as soon as possible.   https://almasalah.com/archives/66582

Al-Sudani Discusses With Barzani The Budget File

Politics,  09/14/2023 Number of readings: 282  Baghdad - Iraq Today:  Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani received a high-ranking Kurdish delegation headed by the Prime Minister of the Kurdistan Regional Government, Masrour Barzani.

The Prime Minister's Media Office stated, in a brief statement, that "Al-Sudani received the Prime Minister of the Iraqi Kurdistan Regional Government, Masrour Barzani, the Deputy Prime Minister of the Regional Government, Qubad Talabani, and their accompanying delegation."

He added, "The delegation includes Deputy Prime Minister of the Regional Government Qubad Talabani, Minister of Finance Awat Sheikh Janab, Secretary of the Council of Ministers Amanj Rahim, and Chief of the Regional Office Omid Sabah."  LINK

Barzani Is Optimistic: We Presented Two Proposals To Baghdad And The Solution At The Cabinet Meeting Next Sunday

Time: 09/15/2023 Read: 1,469 times    {Politics: Al-Furat News} The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, announced that he had put forward two proposals to secure the receipt of financial dues to the region.

In his speech during a press conference held at Baghdad International Airport on Thursday-Friday night, in the presence of representatives of the Kurdistan blocs in Parliament, Masrour Barzani said: “We came as a delegation of the Kurdistan Regional Government to defend the constitutional rights of the people of the Kurdistan Region.”

Barzani expressed his thanks to the Kurdistan blocs that showed support and support for their government, with one side and one position in defense of the entity of the Kurdistan region, hoping that they will be able to provide all the financial rights and entitlements to the citizens of Kurdistan.

Masrour Barzani stated that the delegation held extensive and lengthy discussions with the Prime Minister, the President of the Republic, the Speaker of Parliament, and leaders of other political parties.

He revealed that the Kurdistan Region delegation had put forward two proposals, one short-term and the other long-term, to provide financial dues to Kurdistan.

He explained that the long-term solution may require legislation and some changes and amendments to some laws, indicating that they will work on it later.

As for the current solution, it is linked to the Iraqi Council of Ministers meeting next Sunday, September 17th.

Masrour Barzani explained that all the political parties they met with expressed their willingness to support the proposals of the Kurdistan Region delegation to be able to provide the salaries of Kurdistan Region employees for the current year. He reassured that there would be good news and a solution to the current problems as soon as possible. LINK

Advisor To The Sudanese: We Will See Satisfactory Solutions With The Region Soon

Time: 09/14/2023  Read: 1,664 times  {Politics: Al-Furat News} Hisham al-Rikabi, media advisor to the Prime Minister, Muhammad Shia al-Sudani, confirmed that the current crisis between Baghdad and the Kurdistan region will witness “satisfactory solutions for all parties soon,” indicating the presence of a will among the parties of the coordination framework and the state administration coalition to overcome obstacles.

Al-Rikabi said, in a press statement today, Thursday, that a meeting took place between Prime Minister Muhammad Shia al-Sudani and Prime Minister of the Kurdistan Regional Government, Masrour Barzani, and the two sides stressed the necessity of resolving the legal and financial problems between the two governments in accordance with the constitution and the law. 

He added, "The government is continuing to find a solution to this issue that has been pending for many years, and there is seriousness on the part of the Iraqi government in finding radical solutions in dealing with the Kurdistan region."

Al-Rikabi stated that the Prime Minister stated during the meeting that “the government worked and is still working to ensure that the requirements for a decent living for Iraqi citizens are not affected, whether in the Kurdistan Region or the rest of the governorates, while resolving the legal and administrative problems in a way that is consistent with the requirements of the legal and constitutional position. Therefore, there is a real will to Overcoming the current dispute and crisis.

He added, "We will see satisfactory solutions for all parties soon."

The media advisor to the Prime Minister pointed out that there are “many problems, including legal and technical ones,” indicating that they “must be solved in a realistic and tangible way so that the ball does not happen again and obstacles, problems, and disagreements arise related to the issue of salaries and other issues related to the Kurdistan Region, as well as the legal position.” related to the delivery of oil and other resources.”

He continued: "There are positions from the political forces in the coordination framework and the state administration coalition to overcome these obstacles in a realistic manner that satisfies all parties in the Kurdistan region and Baghdad."

Hisham Al-Rikabi pointed out that the Iraqi government views the issue of Kurdistan region employee salaries as “a national and moral entitlement towards its citizens in Kurdistan,” noting that Baghdad is “keen to” take measures to ensure that the law is not violated and the issue is resolved legally because the continuation of this problem will have consequences. "It may harm the rights of citizens."

He continued his speech by saying: "We will soon find clear and frank measures that are consistent with the spirit of the law and the texts of the constitution, which represents all segments of the Iraqi people."

He stressed the continuation of communication between the two sides, adding that "when the existing obstacles are overcome, there will be clear and frank measures by the government."

He went on to say: “The Iraqi government handed over sums of money to the Kurdistan Regional Government in the form of loans until the issue of resolving all matters related to the export of oil and handing it over to the federal government is resolved,” stressing “the presence of governmental efforts and political forces on the need to find solutions that will end this issue so that The situation of the employees of the Kurdistan region is the same as the situation of the employees of the rest of Iraq.”

He explained that there is "a determination to alleviate the crisis and alleviate the suffering of the citizens of the Kurdistan Region," adding that "clear and frank solutions and a will must be found on the part of the Kurdistan Regional Government to deal with the position of the Iraqi government in order to completely resolve this issue."    LINK

Points to Ponder on Character: 

Never does a man portray his own character more vividly, than in his manner of portraying another -- Richter

Character and personal force are the only investments that are worth anything -- Whitman

Characters do not change -- Opinions alter , but characters are only developed --Benjamin Disraeli

As they, who for every slight infirmity take physic to repair their health, do rather impair it; so they, who for every trifle are eager to vindicate their character, do rather weaken it -- J Mason

Our character is but the stamp on our souls of the free choices of good and evil we have made through life --John Cunningham Geikie

Truthfulness is a corner-stone in character, and if it be not firmly laid in youth, there will ever after be a weak spot in the foundation -- J Davis

Character is the result of two things: Mental attitude and the way we spend our time --Elbert Hubbard