DINARRECAPS8 10/14/23 DINARRECAPS8 10/14/23

Iraq Economic News and Points to Ponder Saturday AM 10-14-23

The Number Of “Billionaires” In Iraq Is Equivalent To That In 9 Countries. A Quarter Of Its Population Is Below The Poverty Line, And A Third Of Its Youth Are “Unemployed.”

Economy | Baghdad today - Baghdad Noticeable economic disparity in the country. Luxury for some and the burden of living on the shoulders of others, and the dreams of ambitious youth disappear under “unemployment” and billions here and dinars there, amid government attempts to eradicate poverty, through “social care” or “soft loans,” while reports indicate that “billionaires ” In Iraq, it is equivalent to that of 9 countries combined.

The Number Of “Billionaires” In Iraq Is Equivalent To That In 9 Countries. A Quarter Of Its Population Is Below The Poverty Line, And A Third Of Its Youth Are “Unemployed.”

Economic affairs expert Nabil Al-Marsoumi explained today, Saturday (October 14, 2023), that "a quarter of Iraq's population lives below the poverty line, and a third of its youth suffer from unemployment."

In numbers: Iraq's wealthy people

The economic expert quoted statistics from a French studies center regarding economic disparity in Iraq, in which he stated that “36 billionaires, each of whom has a wealth of more than a billion dollars, in addition to 16,000 millionaires, each of whom has a wealth of more than a million dollars,” according to a blog post followed by “Baghdad Al-Youm.”

While "the number of billionaires in Iraq is equivalent to the number of the following countries combined: the Emirates, Kuwait, Lebanon, Hungary, Romania, Portugal, the Netherlands, Denmark, and Nigeria," Al-Marsoumi said.

The number of “billionaires” in Iraq is equivalent to that in 9 countries. A quarter of its population Iraq and poverty levels

On (July 21, 2023), the Minister of Labor and Social Affairs, Ahmed Al-Asadi, confirmed that the measures taken by the government raised Iraq’s level by 20 levels in the international poverty hierarchy, according to the United Nations.

In press statements, Al-Asadi revealed, “The loan fund of 400 billion dinars has been approved for this year within the 2023 budget, as we will work to ensure that these loans are for real projects to employ tens of thousands of unemployed people.”

He stressed that through these steps, "Iraq rose 20 places in terms of poverty levels according to the latest United Nations report, where Iraq was ranked 86 and has now reached 66, and we will continue our work until Iraq reaches advanced stages."

The poverty rate in Iraq ranges between 22-25%, and Al-Muthanna Governorate (southwest) leads the poorest governorates with a rate of 52%, followed by Al-Diwaniyah and Dhi Qar governorates in the south with a rate of 49%, according to statistics from the Ministry of Planning. LINK

Exchange Rates Continue To Exceed The Barrier Of 160 Thousand Per Hundred Dollars In Iraq

Economy 2023-10-14 2,857 views Alsumaria News – Economy Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Saturday, October 14, 2023.

Dollar prices exceeded the 160,000 mark in local markets in Baghdad, where the selling price reached 161,500 per 100 dollars, while the purchase price reached 159,500 per 100 dollars.

For more than 7 months, and specifically since the Central Bank began operating the electronic platform and the 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 Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of buying the dollar from the Ministry of Finance reached 1,300 dinars per dollar and selling it at (1,310) dinars per dollar to banks through the electronic platform, and it is sold for (1,320) dinars per dollar. Dollars from banks and non-banking financial institutions to the final beneficiary. LINK

A New Rise In The Dollar Exchange Rate In Iraqi Markets

Economy | 10/14/2023 Baghdad - Mawazine News The dollar exchange rates rose on Saturday in local markets. The selling price was 161,500 Iraqi dinars per 100 dollars. While the purchase price was 159,500 Iraqi dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=236330

Iraqi Oil Exports To America Declined During The Past Week

Iraq's oil exports to America amounted to 247 thousand barrels per day last week

Zagros TV 11:48 AM #Oil #America Iraqi oil exports to America declined during the past week

Jordan raises its share in importing Iraqi oil to 450 thousand barrels per month

Zagros Arabia – Erbil The US Energy Information Administration announced today, Saturday, a decline in Iraq’s oil exports to America during the past week.

Tables published by the administration revealed that the average US imports of crude oil during the past week from eight major countries amounted to 5.299 million barrels per day, an increase of 321 thousand barrels per day from the previous week, which had reached 4.978 million barrels per day.

According to the tables, the administration added that Iraq's oil exports to America amounted to 247 thousand barrels per day last week, down by 59 thousand barrels per day from the previous week, which averaged 306 thousand barrels per day.

It also indicated that most of America's oil revenues during the past week came from Canada at an average of 3,544 million barrels per day, followed by Mexico with an average of 656 million barrels per day, and oil imports from Brazil amounted to an average of 362 thousand barrels per day, and then Colombia at an average of 289 thousand barrels per day.

According to the administration, the amount of American imports of crude oil from Libya was at a rate of 88 thousand barrels per day, from Saudi Arabia at a rate of 67 thousand barrels per day, and from Nigeria at a rate of 46 thousand barrels per day, while no quantity was imported from Russia or from Ecuador. https://zagrosnews.net/ar/news/47431

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

Dinar Recaps 20 10/14/23 Dinar Recaps 20 10/14/23

"Tidbits From TNT" Saturday Morning 10-14-2023

TNT:

CandyKisses: Iranian oil minister expects the price of a barrel of oil to rise to $ 100

Iranian Oil Minister Javad Oji expected the price of a barrel of crude oil to reach 100 US dollars in global markets, according to what was quoted on Saturday by the Islamic Republic of Iran Agency "IRNA".

This came during a meeting of the administrative council of the city of Mehr in the southern Iranian province of Fars held on Friday.

The minister said that "the price of oil in the global market is expected to reach $ 100 per barrel" in light of the recent developments in the Middle East.

TNT:

CandyKisses: Iranian oil minister expects the price of a barrel of oil to rise to $ 100

This came during a meeting of the administrative council of the city of Mehr in the southern Iranian province of Fars held on Friday.

The minister said that "the price of oil in the global market is expected to reach $ 100 per barrel" in light of the recent developments in the Middle East.

CandyKisses: A new jump in oil prices and Brent records $ 90 a barrel

Baghdad today - follow-up

Global oil prices rose today, Saturday (October 14, 2023), by 4.5%, and a barrel of Brent crude oil reached $90 for the first time since the beginning of this October, according to trading data.

According to Reuters, the price of December futures contracts for Brent crude rose by 4.56%, reaching $89.92 per barrel, minutes before it reached $90 for the first time since October 4.

November futures for West Texas Intermediate crude rose 4.57% to $86.75

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Tishwash: A parliamentary committee clarifies the points of disagreement over the oil and gas law

The Parliamentary Oil and Gas Committee confirmed today, Friday, that efforts to legislate the oil and gas law, which has been stalled since 2005, are progressing slowly due to the controversial points not being resolved yet, while it clarified those points.

Committee member Zainab Al-Moussawi said, in a statement followed by Mawazine News, that “legislation of the oil and gas law is proceeding slowly as a result of controversial points, the most important of which is the management of the Kurdistan region’s oil fields and the financial revenues generated from selling oil and exporting abroad.”

She added, "There is a second controversial point that indicates that the management of national wealth, including those in the Kurdistan region, is by the federal government."

She continued, "Managing federal financial revenues and exporting Kurdish oil abroad through the National Oil Company (SOMO) are also controversial points to which Erbil objects."

She stressed, "There are ongoing dialogues between Baghdad and Erbil to overcome differences and approve the law that will draw the map of oil in Iraq again." link

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Tishwash: An expert reveals the importance of attracting Russian investments to Iraq.. What is America’s role?

The economic expert, Safwan Qusay, confirmed today, Friday, that Iraq is trying to be in the region of economic balance by attracting investments from countries of the East or West, including Russia.

Qusay said in a statement followed by Mawazine News, “Russia represents a giant industrial country, and Iraq’s openness to the Russian system can be exploited by attracting investments in the agriculture, livestock, and transportation sectors. Especially if we manage the investment file in the iron and steel sector to create complementary industries at the train level.” And ships.”

He added, "Iraq is looking forward to investing in its geographical location and it needs to establish an industrial zone for strategic industries that complement the path of development and the presence of economic powers such as Russia that can contribute to these sectors. I believe that establishing a nuclear reactor to generate electrical energy will support the process of establishing this industrial city and that we will have diversity." In sources of investments.

He pointed out that "Iraq is looking forward to increasing the capacity of financial transactions with the Russian side outside the SWIFT system, so that it has trade with the East through this system and this reduces the pressure on financial bottlenecks in some cases." He continued, saying: "Russia is a country currently present in Iraq.

" It has investments in the energy and petrochemicals sector, and it may be ready for Russian investments. In return, there can be a link to the production of the continent of Asia through Russia, and to link the continent of Asia through the Al-Faw crossing and through border crossings with Iran for the crossing of goods from Russia to the continent of Africa via the Kingdom of Saudi Arabia. And Jordan.”

Regarding Iraq’s orientation towards a number of economic poles and the possibility of its exit from American influence as a result of this orientation, Qusay said: “Iraq does not have a region of attraction without others, but it must build a sectoral investment map so that there is competition in every sector, and I believe that the advantage of the economy is The return is what will determine the preference. For example, integration with the Russian economy at the level of agriculture, iron and steel industries, and nuclear energy. This could be the path.” He added

: “With the United States, for example, we need a technological city established by American companies at home .” The Iraqi and the British believe that British insurance companies are able to guarantee global investment in Iraq, and I believe that the division of regions and commercial and economic dealings with countries of the world are what will contribute to determining the path of investment in Iraq, and Iraq is not against any investment.”

Russian President Vladimir Putin and Iraqi Prime Minister Muhammad Shiaa Al-Sudani participated in the activities of the "Russian Energy Week" forum, which was held in Moscow.
In his speech at the opening of the forum, Putin stressed that "the global economy is moving to a multipolar model that has several growth centers."

For his part, Al-Sudani spoke at the forum about Russian development in the gas, oil, and electricity sectors, in addition to the Iraqi government’s priority in economic diversification through integrated energy, petrochemical, and integrated projects. link

Mot: ..... ole ""Mots"" Advice on - Animal Attacks!!

Mot: ... Why!!!???? --- Every time!!!

DINARRECAPS8 10/13/23 DINARRECAPS8 10/13/23

Goldilocks' Comments and Global Economic News Friday Evening 10-13-23

Goldilocks' Comments and Global Economic News Friday Evening 10-13-23

Good morning Dinar Recaps,

Did you know that there have been over 66,000 articles published in this room for the last 2 years?

We have learned a lot together regarding the new QFS system.

© Goldilocks

Goldilocks' Comments and Global Economic News Friday Evening 10-13-23

Good morning Dinar Recaps,

Did you know that there have been over 66,000 articles published in this room for the last 2 years?

We have learned a lot together regarding the new QFS system.

© Goldilocks

~~~~~~~~~~

On Friday, the World Bank stated it is boosting its collaboration with nine Multilateral Development Banks.

Multilateral Development Banks are part of the BRICS System. More and more liquidity is moving over to the BRICS System.

The World Bank provides financing, policy advice, and technical assistance to governments of developing countries.

The transition of power and wealth is right in front of us my friends.

© Goldilocks
Zawya Link
Wikipedia New_Development_Bank Link

~~~~~~~~~~

"Sudan’s Iranian Rapprochement Gives Control Of The Red Sea To BRICS"

On January 1st, 2024, Iran and Sudan are reestablishing harmonious relations after 7 years of conflicting viewpoints through connection with the BRICS Nations.

This gives control of access to the Red Sea and the Suez Canal to the BRICS Nations. As we have discussed many times in this room, 80% of International trade takes place on the water whereby the formation of exchange rates occurs the most.

Watch the water.

© Goldilocks
Silk Road Briefing Link

~~~~~~~~~~

The Stellar (XLM) blockchain, known for fast international transactions, is about to introduce something new. This is called Soroban, a platform for smart contracts that’s being tested right now. What makes Soroban special is its use of WebAssembly (WASM), which is designed to work well with regular websites and blockchain systems.

Blockchains need to be very safe. Even a tiny mistake in the code can cause big problems. That’s why Stellar wants to make sure that its new system, Soroban, is as safe as possible. Smart contracts, which are agreements stored on the blockchain, have to be very secure because they are immutable so once they are made, they can’t be changed.

Crypto News Link

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Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development
IMF Link

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Transcript of October 2023 World Economic Outlook Press Briefing

Speakers:

Pierre‑Olivier Gourinchas, Director, Research Department, IMF
Petya Koeva Brooks, Deputy Director, Research Department, IMF
Daniel Leigh, Division Chief, Research Department, IMF

IMF Link

~~~~~~~~~~

We are still in the testing phase of Protocol 20.

At the end of the month, a vote will be taken to move forward with the integration of Quantum Technologies.

Smart Contracts will be activated around the world to secure both sides of a trade in an electronic format.

© Goldilocks
https://dashboard.stellar.org/

~~~~~~~~~~

STRATEGIC IMPORTANCE OF THE RED SEA

One of the most important issues in the Red Sea area over the last 50 years has been the Arab-Israeli conflict. There is also the close interrelationship between the Red Sea and the Arab Gulf, which have historic, economic, and strategic links.

Pdf Links:
STRATEGIC IMPORTANCE OF THE RED SEA
Strategic Importance of the Red Sea - DTIC

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Transcript of Middle East and Central Asia Department Press Briefing

Speaker: Jihad Azour, Director of the Middle East and Central Asia Department, IMF

IMF Link

~~~~~~~~~~

Something to pay close attention to is the developments in the Strait of Hormuz.

This is a chokepoint for nearly 20% of the world's oil.

Read: https://x.com/goldtelegraph_/status/1712885583935426637?s=46

~~~~~~~~~~

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 -- www.DinarRecaps.com

DINARRECAPS8 10/13/23 DINARRECAPS8 10/13/23

Iraq Economic News and Points to Ponder Friday Afternoon 10-13-23

Tlm724 Administrator Bondlady’s Corner

Economist: The Central Bank Bears The Rise In The Dollar... And 50 Billion Are Frozen In Homes

Time: 2023/10/12 22:59:51 Read: 4,979 times {Economic: Al-Furat News} The economic expert, Abdul Rahman Al-Mashhadani, held the Central Bank of Iraq responsible for the rise in the dollar in the local market.

Al-Mashhadani said: For the program {Free Speech} broadcast by Al-Furat satellite channel this Thursday evening, it said: “The rise in dollar prices is caused by the parallel market, which meets trade requests with countries sanctioned by the American side and amounts to $30 million per day, as well as financing the drug trade through it.”

Iraq Economic News and Points to Ponder Friday Afternoon 10-13-23

Tlm724 Administrator Bondlady’s Corner

Economist: The Central Bank Bears The Rise In The Dollar... And 50 Billion Are Frozen In Homes

He added, "At this moment, all the measures taken are incorrect, and a section of speculators and traders are the ones causing the dollar prices to rise, and the Central Bank's measures to reduce the sale of the dollar led to an increase in the exchange rate."

Al-Mashhadani stressed, "The necessity of adopting a culture of relying on the banking system in financial transactions. Iraq is supposed to be a tourist country with the presence of more than 12 archaeological and religious sites. The problem is that we have not invested any tourism in the country."

He pointed out, "The solid amount of dollars in Iraqi homes is no less than 50 billion dollars. If the Central Bank criminalizes dealing in dollars, how will they be spent?"

Al-Mashhadani stressed, "The Central Bank still has the tools to control the exchange rate." LINK

The Central Bank Calls For The Opening Of Exchange Offices In Iraq's Airports

Economy News – Baghdad The Central Bank of Iraq called on Class A exchange companies to open offices in Iraqi airports in order to facilitate obtaining the dollar currency for travelers.

Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said, “The Central Bank directed the Class A exchange companies to facilitate travelers’ access to the dollar currency through their companies and by opening offices in the airports of (Baghdad - Basra - Najaf - Erbil).”

Khalaf addressed companies wishing to open an office in one or more of the above airports, depending on the geographical area of the spread of their branches, by “submitting their applications to the Central Bank, specifying the airport in which they wish to work.”

The Director General of the Investment Department at the Central Bank, Mazen Ahmed, said a few days ago, in an interview with Al-Iraqiya News Channel, that the Central Bank will open 5 branches of banking offices inside the airports of Baghdad, Najaf, and Basra in order to sell the dollar to travelers, indicating that Erbil Airport will be in the next stage. .

303 views 10/13/2023 - https://economy-news.net/content.php?id=36952

An Expert Reveals The Importance Of Attracting Russian Investments To Iraq.. What Is America’s Role?

Economy | 04:29 - 10/13/2023 Mawazine News – Baghdad The economic expert, Safwan Qusay, confirmed today, Friday, that Iraq is trying to be in the region of economic balance by attracting investments from countries of the East or West, including Russia.

Qusay said in a statement followed by Mawazine News, “Russia represents a giant industrial country, and Iraq’s openness to the Russian system can be exploited by attracting investments in the agriculture, livestock, and transportation sectors. Especially if we manage the investment file in the iron and steel sector to create complementary industries at the train level.” And ships.”

I believe that establishing a nuclear reactor to generate electrical energy will support the process of establishing this industrial city and that we will have diversity." In sources of investments.

He pointed out that "Iraq is looking forward to increasing the capacity of financial transactions with the Russian side outside the SWIFT system, so that it has trade with the East through this system and this reduces the pressure on financial bottlenecks in some cases." He continued, saying: "Russia is a country currently present in Iraq.

" It has investments in the energy and petrochemicals sector, and it may be ready for Russian investments. In return, there can be a link to the production of the continent of Asia through Russia, and to link the continent of Asia through the Al-Faw crossing and through border crossings with Iran for the crossing of goods from Russia to the continent of Africa via the Kingdom of Saudi Arabia. And Jordan.”

Regarding Iraq’s orientation towards a number of economic poles and the possibility of its exit from American influence as a result of this orientation, Qusay said:

“Iraq does not have a region of attraction without others, but it must build a sectoral investment map so that there is competition in every sector, and I believe that the advantage of the economy is The return is what will determine the preference. For example, integration with the Russian economy at the level of agriculture, iron and steel industries, and nuclear energy. This could be the path.”

He added: “With the United States, for example, we need a technological city established by American companies at home .”

The Iraqi and the British believe that British insurance companies are able to guarantee global investment in Iraq, and I believe that the division of regions and commercial and economic dealings with countries of the world are what will contribute to determining the path of investment in Iraq, and Iraq is not against any investment.”

Russian President Vladimir Putin and Iraqi Prime Minister Muhammad Shiaa Al-Sudani participated in the activities of the "Russian Energy Week" forum, which was held in Moscow.

In his speech at the opening of the forum, Putin stressed that "the global economy is moving to a multipolar model that has several growth centers."

For his part, Al-Sudani spoke at the forum about Russian development in the gas, oil, and electricity sectors, in addition to the Iraqi government’s priority in economic diversification through integrated energy, petrochemical, and integrated projects. https://www.mawazin.net/Details.aspx?jimare=236310

Iraq Is Working To Establish A Factory For The German Mercedes Company

Reconstruction and building Economy News - Baghdad: The Prime Minister's advisor, Muhammad Sahib Al-Daraji, confirmed that Iraq is working to establish factories for Mercedes and MAN.

Al-Daraji said, during his visit as part of an official delegation to Saudi Arabia, “Our visit includes several goals, including visiting the factories of MAN and Mercedes companies, because there is a memorandum of understanding between the Iraqi Military Industrialization Organization and a Saudi international company to invest in building factories of MAN and Mercedes companies in Iraq.”

He added, “We discussed with the Saudi public and private sector many investment opportunities in the residential, agricultural and industrial sectors.” The Iraqi-Saudi Investment Company was also established, the Saudi Investment Protection Law was approved, and 3 billion US dollars were allocated from the Saudi side to invest in Iraq. 10/13/2023 https://economy-news.net/content.php?id=36948

High Oil Prices

Economy | 10/13/2023 Follow-up - Mawazine News Oil prices rose today, Friday, after the United States tightened its sanctions program on Russian crude exports, raising concerns about supplies in an already scarce market, and global inventories are expected to decline during the fourth quarter.

Brent crude futures rose 36 cents, or 0.4%, to $86.36 per barrel, and US West Texas Intermediate crude rose 53 cents, or 0.6%, to $83.44 per barrel.

Brent crude is heading for weekly gains of 2.1%, and West Texas Intermediate crude is heading for a 0.8% rise this week, after both crude oils rose sharply on Monday due to the possibility of disruption to exports from the Middle East. https://www.mawazin.net/Details.aspx?jimare=236302

The International Monetary Fund Is Pessimistic About The Future Of The Iraqi Economy

Money and business Economy News – Baghdad The International Monetary Fund confirmed that restrictions on foreign currency sales in Iraq have hindered growth in the gross domestic product.

The Fund said in a report on regional economic developments and prospects, seen by Al-Iqtisad News, that “reductions in oil production are having repercussions on oil-exporting countries, as the growth of the gross oil domestic product has slowed following three rounds of sharp cuts in oil production under the OPEC + agreement.” October 2022, April 2023, and June 2023.”

He added that the Gulf countries' non-oil GDP grew, thanks to the strength of the manufacturing industry and the recovery of the services sector, while in Iraq, restrictions on foreign currency sales hinder growth.

Although the Iraqi Ministry of Planning announced that inflation reached 3.5%, the International Monetary Fund placed Iraq alongside Algeria, which has an inflation rate of more than 9%, and Iran at 30%.

He said, “Inflation is still high in another group of oil exporters, which are Algeria, Iraq, and Iran,” referring to countries with currencies pegged to the US dollar, except for Iraq. Central banks followed in the footsteps of the Federal Reserve, which led to a rise in basic interest rates this year by 100 points. Average basis until August 2023.

The International Monetary Fund noted that Iraq's primary non-oil balances declined due to the rise in public sector wages, in addition to the increase in the support rate.

The Fund stated that this year, growth is expected to record a noticeable slowdown in oil-exporting countries, reaching 2%, stressing that growth in Iraq will decline due to the reduction in oil production and the impact of rationalizing the use of foreign currency in import-dependent sectors.

He pointed out that in 2024, it is expected that the increase in the wage bill in Iraq will lead to a decline in the public financial position. 10/13/2023 - https://economy-news.net/content.php?id=36951

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

https://www.bondladyscorner.com/

Points to Ponder From KAHLIL GIBRAN:

If the other person injures you, you may forget the injury; but if you injure him you will always remember.

They deem me mad because I will not sell my days for gold; and I deem them mad because they think my days have a price.

The significance of a man is not in what he attains but rather in what he longs to attain.

The tiny flame that lights up the human heart is like a blazing torch that comes down from heaven to light up the paths of mankind. For in one soul are contained the hopes and feelings of all Mankind.

Let there be spaces in your togetherness.

Dinar Recaps 20 10/13/23 Dinar Recaps 20 10/13/23

"Tidbits From TNT" Friday 10-13-2023

TNT:

Tishwash: Economic praise for Iraq and Russia's agreement to deal in dinars and rubles: a masterstroke

On Thursday, economic expert Bassem Antoun considered the Iraqi-Russian agreement in transactions between the two countries in the local currencies of the dinar and the ruble to open new doors with other countries for dealing in local currencies, which will reduce the demand for the dollar , describing the agreement as a “masterstroke.”

Anton said in a statement to Al-Maalouma, “Raising the issue of dealings between Iraq and the Russian Federation at the highest level of two figures played a role in agreeing with the Russian side to conduct transactions between the two countries in the local currencies of the ruble and dinar, especially since the volume of Russian annual investments in Iraq amounted to 19 One billion annually, and this is a very large number.”

He added, “In light of the agreement, Iraq will open new horizons of openness with important countries to deal with in the local currency. Therefore, the demand for the dollar will decrease and the value of the Iraqi dinar will rise against the dollar. "

TNT:

Tishwash: Economic praise for Iraq and Russia's agreement to deal in dinars and rubles: a masterstroke

Antoun explained, “Among the basic and strategic measures of the current government and future governments is to activate the agricultural and industrial sector to achieve self-sufficiency, which will also reduce the demand for the dollar to obtain and agricultural and industrial products from abroad, and After that the country will emerge from dependence on the unilateral rentier economy dependent on the sale of oil.”

Prime Minister Muhammad Shiaa Al-Sudani announced yesterday, Wednesday, the government's interest in investing in gas, especially since this wealth has not received attention since the discovery of oil.

Prime Minister Muhammad Shiaa Al-Sudani concluded a visit to the Russian capital, Moscow, which he visited the day before yesterday, Tuesday. link

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CandyKisses: Economist: The Central Bank bears the rise of the dollar. And 50 billion frozen in homes

{Economic: Euphrates News} The economic expert, Abdul Rahman Al-Mashhadani, held the Central Bank of Iraq responsible for the rise of the dollar in the local market.

Al-Mashhadani told the program "Free Speech" broadcast by Al-Furat satellite channel on Thursday evening, "The rise in dollar prices is caused by the parallel market, which meets trade requests with countries sanctioned by the US side and reaches $ 30 million per day, as well as financing drug trade through it."

"Until this moment, all the measures taken are improper, and some speculators and traders are the ones who cause the rise in dollar prices, and the Central Bank's measures to reduce the sale of dollars led to a rise in the exchange rate," he added.

Al-Mashhadani stressed "the need to adopt a culture of adopting the banking system in financial transactions, and Iraq is supposed to be a tourist country with more than 12 archaeological and religious sites, and the problem is that we did not invest any tourism in the country."

He pointed out that "the rigid mass of dollars in Iraqi homes is not less than 50 billion dollars, so if the Central Bank criminalizes dealing in dollars, how will it be disbursed?"

"The central bank still has the tools with which it controls the exchange rate," Mashhadani said.

************

CandyKisses: Oil rises to more than $86 due to tightening sanctions on Russian crude

Baghdad today - follow-up

Oil prices rose today, Friday (October 13, 2023), after the United States tightened its sanctions program on Russian crude exports, raising concerns about supplies in an already scarce market.

By 0052 GMT, Brent crude futures rose 36 cents, or 0.4 percent, to $86.36 per barrel. US West Texas Intermediate crude also rose 53 cents, or 0.6 percent, to $83.44 per barrel.

Brent crude is heading for weekly gains of 2.1 percent, and West Texas Intermediate crude is heading for a 0.8 percent rise this week, after both crude oils rose sharply, Monday, due to the possibility of disruption to exports from the Middle East after the Hamas attack on Israel over the weekend threatened to expand... Scope of conflict.

Prices fell during the week, but on Thursday the United States imposed the first sanctions on owners of tankers carrying Russian oil whose price exceeds the Group of Seven price cap of $60 a barrel and imposed them to fill loopholes in the mechanism designed to punish Moscow for Its war in Ukraine.

Russia is the world's second-largest oil producer and major exporter, and tighter US scrutiny of its shipments could reduce supplies.

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Tishwash: Saudi Arabia: Preemptive measures must be taken in the oil market

Saudi Energy Minister Prince Abdulaziz bin Salman announced today, Thursday, that it is necessary to take “proactive” measures in the oil market and try to achieve stability in it.

He added during a visit to Russia: “We do not have a magic wand... It is difficult to predict what will happen in the market even within half a year.”

In addition, the Saudi minister confirmed to the official Russia 24 TV channel that the need to move in oil markets depends on the extent of their volatility ink

Mot: ... why i go out alot .....

Mot: .... Finally - its in Words!!!

DINARRECAPS8 10/13/23 DINARRECAPS8 10/13/23

Iraq Economic News and Points to Ponder Friday AM 10-13-23

The International Monetary Fund Is Pessimistic About The Future Of The Iraqi Economy

International Monetary Fund building Money and business Economy News – Baghdad The International Monetary Fund confirmed that restrictions on foreign currency sales in Iraq have hindered growth in the gross domestic product.

Iraq Economic News and Points to Ponder Friday AM 10-13-23

The International Monetary Fund Is Pessimistic About The Future Of The Iraqi Economy

The International Monetary Fund noted that Iraq's primary non-oil balances declined due to the rise in public sector wages, in addition to the increase in the support rate.

He pointed out that in 2024, it is expected that the increase in the wage bill in Iraq will lead to a decline in the public financial position. 240 views 10/13/2023 - https://economy-news.net/content.php?id=36951

The Central Bank Calls For The Opening Of Exchange Offices In Iraq's Airports

https://economy-news.net/vrsfls/cntnt/pctr/37128.jpg

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Economy News – Baghdad The Central Bank building, which is still under construction in the Jadriya area in Baghdad The Central Bank of Iraq called on Class A exchange companies to open offices in Iraqi airports in order to facilitate obtaining the dollar currency for travelers.

The Central Bank calls for the opening of exchange offices in Iraq's airports 1697139490834

215 views 10/13/2023 - https://economy-news.net/content.php?id=36952

Iraqi Livestock Is An Important Economic Resource That Faces A Number Of Challenges

https://media.shafaq.com/media/arcella/1697131514486.jpeg

2023-10-12 Shafaq News/ Livestock production has declined over the past years in Iraq, due to low water levels of the Tigris and Euphrates rivers, scarcity of rain, drought, lack of pastures, and high feed prices, in addition to production costs in general, amid calls to support this sector as it constitutes an economic resource. It is important for the country, and thousands of breeders and farmers depend on it.

The difficult conditions that Iraq is witnessing, including the decrease in water releases coming from the Tigris and Euphrates rivers from Turkey, climate changes, and high temperatures, have led to a decrease in water storage and the drying up of the marshes, and despite government moves and the Ministries of Water Resources and Agriculture, the water situation has not improved much, according to a spokesman for Ministry of Agriculture, Muhammad Al-Khuzai.

Al-Khuzaie confirms to Shafaq News Agency, “Water scarcity has caused the death of many animals, and the displacement of breeders to other areas, in order to preserve the remaining animals they have.”

Solve Part Of The Problem

In an attempt to reduce the damage and support breeders, “the Ministry of Agriculture had an initiative to allocate 5 billion dinars to purchase feed and distribute it to breeders,” according to Al-Khuzaie, noting that “feed prices rose worldwide as a result of the Russian-Ukrainian war, which exacerbated the suffering of this sector.”

The Ministry of Agriculture spokesman points out at the conclusion of his speech that “these treatments are to solve part of the problem, and not a solution to the main problem of water scarcity.”

Supports To Increase Production

For her part, the First Deputy Chairman of the Parliamentary Agriculture, Water and Marshlands Committee, Zozan Ali Saleh, explains that “the livestock sector faces many challenges, including the water crisis, the high cost of feed, the spread of epidemics, and the high cost of production,” pointing out that “by resolving the water crisis, it will be solved.” "There are many problems that various sectors suffer from, including the agricultural and livestock sectors."

Saleh stressed to Shafaq News Agency the necessity of “supporting livestock by providing fodder and vaccines, granting loans to farmers, along with veterinary medical care, providing agricultural production requirements, and encouraging farmers to use modern methods of agriculture and use modern irrigation systems, so that there are foundations for increasing production and a supply.” "Good for the Iraqi economy."

High Prices Of Animal Products

The agricultural expert, Khattab Al-Damen, attributes the decline in livestock productivity to the same reasons mentioned by Zozan Ali Saleh, stating, “The decline in production led to a decline in the quantities produced of meat, milk, poultry, and fish, so their prices rose clearly.”

Speaking to Shafaq News Agency, Al-Damen calls on the government, especially the Ministries of Agriculture and Water Resources, to “manufacture feed locally to reduce costs and provide it at subsidized prices, as well as provide veterinary supplies to farmers, to increase livestock production at lower costs, which will help stabilize prices.” LINK

Iraq Is Working To Establish A Factory For The German Mercedes Company

Muhammad Sahib Al-Daraji Reconstruction and building Economy News - Baghdad: The Prime Minister's advisor, Muhammad Sahib Al-Daraji, confirmed that Iraq is working to establish factories for Mercedes and MAN.

309 views 10/13/2023 - https://economy-news.net/content.php?id=36948

Do Not Come Back.” The Text Of The Leaflet That Israel Delivered To The Residents Of Gaza

Posted On2023-10-13 By Sotaliraq Israel warned the residents of the Gaza Strip to approach the security wall as the intensity of the escalation in the Gaza Strip increased, amid speculation that Israel would move towards a ground attack. The latter informed the residents of the Strip to evacuate their homes and head towards the south.

The text of the statement delivered by the Israeli army to the residents of the Gaza Strip stated: “To the residents of Gaza City, terrorist organizations have begun the war against the State of Israel. Gaza City has become a battlefield. You must evacuate your homes immediately and head to the south of the Gaza Valley.”

The statement added:

For your security and safety, you must not return to your homes until further notice by the Israeli army.

Public and known shelters in Gaza City must be evacuated.

It is forbidden to approach the security wall, and anyone who approaches exposes himself to death.

On Friday morning, Israeli army spokesman Jonathan Conricus conveyed a statement to the media and a message to the residents of Gaza, ahead of a possible ground attack expected soon.

Conricus said, in a video clip previously published by the official Israeli army page on the “X” platform, “Twitter”:

The past hours have been relatively quiet compared to the past six days.

The rocket fire is still continuing, and the “terrorists” are still attacking the Israelis, or at least trying to.

Hours ago, we sent a message in Arabic to the residents of Gaza.

As a humanitarian step in order to reduce civilian casualties, we are asking Gazans to evacuate their homes and head south, towards Wadi Gaza, which is an area known and visible to everyone.[/size]

The Israeli army also published a written statement on Friday morning, in which it said through its spokesman that it “calls on all residents of Gaza City to evacuate their homes and head south.”

The army asked residents to “be present south of Wadi Gaza, as shown on the map.”

The spokesman explained that Hamas “opened the war against Israel, and Gaza City is witnessing military operations.”

He added: “He will not be allowed to return to Gaza City unless a statement is issued allowing this.” It is forbidden to approach the fence area with Israel.”

The spokesman said that Hamas militants “are hiding inside Gaza City in tunnels under homes and inside densely populated buildings.”

He continued: “O residents of Gaza, you must go south to preserve your personal security and the security of your families.” LINK

Points to Ponder on The Four Agreements:

If you can implement these 4 things into your daily life your life will change -- and it will be more harmonious -- with less suffering - and less negative Karma -- it would be most helpful if you could print these out - paste to an index card and carry with you or place where you can be reminded of them until they are fully into your conscious mind -- just a kind heartfelt suggestion - your choice --

The Four Agreements - Don Miguel Ruiz

Agreement 1 - Be impeccable with your word - Speak with integrity. Say only what you mean. Avoid using the word to speak against yourself or to gossip about others. Use the power of your word in the direction of truth and love.

Agreement 2 - Don’t take anything personally - Nothing others do is because of you. What others say and do is a projection of their own reality, their own dream. When you are immune to the opinions and actions of others, you won’t be the victim of needless suffering.

Agreement 3 - Don’t make assumptions - Find the courage to ask questions and to express what you really want. Communicate with others as clearly as you can to avoid misunderstandings, sadness and drama. With just this one agreement, you can completely transform your life.

Agreement 4 - Always do your best - Your best is going to change from moment to moment; it will be different when you are healthy as opposed to sick. Under any circumstance, simply do your best, and you will avoid self-judgment, self-abuse and regret.

Dinar Recaps 20 10/13/23 Dinar Recaps 20 10/13/23

MilitiaMan: Central Bank of Iraq - Suspended Western Union - ZainCash - Temporarily - Iraq Dinar - International

Central Bank of Iraq - Suspended Western Union - ZainCash - Temporarily - Iraq Dinar - International

MilitiaMan and Crew: 10-12-2023

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

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

Central Bank of Iraq - Suspended Western Union - ZainCash - Temporarily - Iraq Dinar - International

MilitiaMan and Crew: 10-12-2023

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=br2HIi6DemY

DINARRECAPS8 10/12/23 DINARRECAPS8 10/12/23

Goldilocks' Comments and Global Economic News Thursday Evening 10-12-23

Goldilocks' Comments and Global Economic News Thursday Evening 10-12-23

Good evening Dinar Recaps,

In September, India's central bank made its largest monthly gold purchase in 15 months.

~~~~~~~~~~

China has added gold for 11 straight months

They have purchased 243 tonnes of gold since they started reporting these purchases

We are witnessing the local #gold premium in China soar to record highs when compared to international pricing A new system is emerging?

Goldilocks' Comments and Global Economic News Thursday Evening 10-12-23

Good evening Dinar Recaps,

In September, India's central bank made its largest monthly gold purchase in 15 months.

Read: https://x.com/goldtelegraph_/status/1712253002357387454?s=46

~~~~~~~~~~

Read: https://x.com/goldtelegraph_/status/1712202649666502700?s=46

"Bitcoin and gold have similar inflation-hedge narratives. Currently, gold has a lower inflation rate (1.7%) than Bitcoin (1.8%), but it will be a monumental flip at the halving. A simplistic inflation story would require gold and bitcoin to rise together. However, gold is getting hammered in the last few days while bitcoin is bouncing."

About a week ago we talked about this taking place. We talked about how assets would decouple from each other and how price distortions would occur during a time of War. In the end, a reset/revaluing of assets would occur.

© Goldilocks

~~~~~~~~~~

“Zimbabwe launched a new gold-backed digital currency in an effort to halt re-dollarization, which the administration of President Emmerson Mnangagwa worries could destroy the country's already struggling economy.”

At this time, this is only for citizens of Zimbabwe and can’t be purchased out of the country. But this shows the initiative is not only in the Middle East and Asia but also in Africa.

~~~~~~~~~~

ZIMBABWE

🟠INTRODUCES GOLD-BACKED CURRENCY

🟢IF SOMEONE IN ZIMBABWE HAS GOLD IT CAN BE CONVERTED TO DIGITAL TOKENS

✅GOAL IS TO DE-DOLLARIZE

https://allafrica.com/stories/202310100479.html

~~~~~~~~~~

It's time for liquidity to flow out of energy and into other markets

https://youtu.be/g6TxjlOoLAk?feature=shared

~~~~~~~~~~

Artificial intelligence is beginning to take over the banking system at this point. It will begin driving Market direction and integration through a series of data points that give us a path going forward.

This will change the landscape of management inside our banking systems, and it will create new opportunities inside the markets that will revolutionize the way we create money.

Computers work with real values. This is why the banks, markets, and payment systems have to work with a decentralized system based on real values supported by the commodity markets.

Gold gives solid values to our new digital asset-based trading system. Look for November going into December to create life-changing events in our banking system and our markets.

© Goldilocks
IBS Intelligence Link
The Street Link
Analytics Insight Link
The Currency Analytics Link

~~~~~~~~~~

Aside from leading the banking sector in profitability as of half year ended June 30, 2023, United Bank for Africa (UBA) also outperformed other Tier-1 and Tier-2 banks in Capital Adequacy Ratio (CAR) and Liquidity Ratio (LR) to maintain soundness and resilient financial system, THISDAY investigation has revealed.

This Day Live Link

~~~~~~~~~~

"Derivative Exchange Deribit to Start XRP Options Trading January 2024."

An option contract is linked to an underlying asset, e.g., a stock or another security. In other words, this gives XRP the ability to trade in pairs.

Currency pairs set values of one vs. another, and their exchange rates will continuously fluctuate based on their respective changing values.

Do you remember a while back when we saw XRP being paired to the IQD? Both currencies provide support to one another when they are paired together. It keeps the fluctuations of individual exchange rates in check offering more value to each one together than alone.

In January 2024, XRP is being called up to play in the Big Leagues. This will transform our traditional markets across all sectors.

Yes, Babe Ruth (XRP) is stepping up to the plate, and it will bring with it a grouping of other currencies to stabilize values in the new digital asset-based trading system.

© Goldilocks
The Crypto Basic Link

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Fed's Barr frames capital reform as final chapter of Dodd-Frank | American Banker
American Banker Link

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BRICS: Saudi Arabia & China Partner to Develop New AI System

Watcher Guru Link

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INTRODUCING | Stellar and PwC Launch a Financial Inclusion Framework to Assess and Judge Blockchain Projects in Emerging Markets

The framework was developed by analyzing 12 blockchain applications operating in Colombia, Argentina, Kenya, and the Philippines.

BitcoinKE Link

~~~~~~~~~~

US #inflation in September came in above forecasts, raising the odds the Fed will hike #InterestRates

US Consumer Price Index:
▪️ m/m = +0.4% (expected +0.3% / previously +0.6%);
▪️ y/y = +3.7% (expected +3.6% / previously +3.7%);
▪️ Core #CPI = +4.1% yoy (expected +4.1% / previously +4.3%).

MultiPolarMarkt

~~~~~~~~~~

~~~~~~~~~~

WEF: Are You Ready For A.I. To Monitor Your Thoughts?

https://www.youtube.com/watch?v=DZsxUl2qihQ

~~~~~~~~~~

BREAKING NEWS

AN IMF OFFICIAL IS WARNING THAT THE UNITED STATES IS ON A UNSUSTAINABLE FISCAL PATH WITH BIG DEFICITS

Surprise, surprise.

Read: https://x.com/goldtelegraph_/status/1712563495840129368?s=46

~~~~~~~~~~

It's not until you look behind that you see how things are connected.

We have been covering the QFS for over 2 years. We have been following it as a group from the ground up. Now, we are beginning to reveal how things are interconnected.

© Goldilocks

~~~~~~~~~~

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 -- www.DinarRecaps.com

DINARRECAPS8 10/12/23 DINARRECAPS8 10/12/23

Iraq Economic News and Points to Ponder Thursday Evening 10-12-23

The Dollar Will Be Reduced In Iraq.. A New Government Project Related To Trade With 3 Countries Was Revealed

The State of Law coalition revealed a new government project related to trade exchange between Iraq and three countries, while clarifying America’s position on that, and its impact on the dollar.

The leader of the coalition, Jassim Muhammad, said in a press interview seen by “Taqaddam” that “there is a new government project to adopt currencies other than the dollar to deal with several countries, including China, Iran and Russia,” stressing that “this project, if implemented correctly, will work to reduce the demand for the dollar.” In Iraqi markets.”

Iraq Economic News and Points to Ponder Thursday Evening 10-12-23

The Dollar Will Be Reduced In Iraq.. A New Government Project Related To Trade With 3 Countries Was Revealed

The State of Law coalition revealed a new government project related to trade exchange between Iraq and three countries, while clarifying America’s position on that, and its impact on the dollar.

He added, “The project to create a currency for exchange between Iraq and these countries will greatly affect the dollar and will lead to a decline in its prices,” stressing that “the current rise in dollar exchange rates in Iraq will not be able to be reduced by any party, whether the central bank or others, as long as the demand for it is high.” .

Regarding America’s position on the new project, Muhammad explained, “America has no relationship with this project, and it does not matter whether or not it agrees to the project to create a currency other than the dollar for Iraqi commercial transactions, provided that there is a will from Iraq and these countries.”

The leader of Al-Maliki’s coalition stated, “Iraq is required to believe in this issue and adopt this project during the coming period, and the need to overcome the stage of fear and anxiety about the results.”

https://takadum-news.com/archives/187528#hathalyoum

Obelisk Hour: Iraq Does Not Have The Ability To Completely Liberate Itself From The Dollar

October 11, 2023 Baghdad/Al-Masala Al-Hadath: Al-Masala publishes the most prominent interactions of television dialogues:

Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, during a televised dialogue:

- The BRICS group manages a quarter of the world’s economy

- America uses the dollar to impose its political control

- Iraq does not have the ability to completely liberate itself from the dollar

- The Iraqi political position is not unified

- The Kurdistan region has not issued a position on the events in Palestine

- The scarcity of the dollar on the black market has produced a huge difference in the price Dollar

- The Palestinian people are facing a tragic siege and indiscriminate bombing

- Arab regimes must support the Palestinians without hesitation

- Operation Al-Aqsa Flood showed the fragility of the Israeli intelligence and military system

- Operation Al-Aqsa gave great hope for the possibility of Israel’s demise

Chairman of the Iraqi Business Council, Daoud Abd Zayer, during a televised dialogue:

- BRICS is a new type of dealing with financial systems, but it is a “reserve”

- Iraq must be close to BRICS

- BRICS countries still deal in dollars until now

- America will not have a reaction to Iraq joining BRICS

- America dominates the financial system

Spokesman for the Sayyid al-Shuhada Brigades, Sheikh Kazem al-Fartusi, during a televised interview:

- Iraq’s positions on the “Palestinian issue” are very good

- The government’s position on the Palestinian issue was good

- We do not rely on the Arab position on the Palestine issue as much as we rely on the axis of resistance

- The victories of the resistance are still continuing and constitute a terror to the Zionist entity

- We will target all American bases in Iraq as soon as Washington's intervention in the Gaza battles

Member of the Syrian People’s Assembly, MP Walid Darwish, during a televised dialogue:

- “The Al-Aqsa Flood” is the beginning of the end of the usurping entity

- The Resistance Axis shares the victories of the “Al-Aqsa Flood” from Palestine to Syria, Iraq and Lebanon

- Syria focuses on supporting the resistance and the resistance’s victories in Palestine

- The Palestinian Resistance accomplished “The Great” with heroic operations

- The Resistance in Iran, Yemen and Lebanon Syria and Iraq will intervene as soon as Washington intervenes

Head of the Association of Muslim Scholars in Lebanon, Sheikh Hassan Abdullah, during a televised interview:

- Gaza will not fight the battle of “Al-Aqsa Flood” alone at all

- Lebanon’s position is focused on providing full support to Gaza

- The Zionist entity has become floundering in recent days

- We will not allow the Zionist enemy to kill any Lebanese citizen without a response from the resistance

- The resistance is fully prepared and will intervene as soon as the enemy rises With any land adventure inside Gaza https://almasalah.com/archives/69934

Economic Advisor: The Dollar Problem Is Internal And The Central Bank Failed To Lower The Exchange Rate

Time: 2023/10/12 Read: 663 times {Economic: Al-Furat News} The former economic advisor to the Presidency of the House of Representatives, Muhammad Al-Fakhri, considered the dollar problem in Iraq “internal,” while he saw that the Central Bank “failed” to lower the exchange rate.

Al-Fakhri said: For the program {Free Speech} broadcast by Al-Furat satellite channel this Thursday evening, he said: “It is difficult to compare Berlin and Baghdad with the presence of public transportation, reliance on the metro, and citizens’ awareness of dispensing with cars and turning to public transportation.”

He added, "There is also a difference in working hours, which helps absorb momentum in public streets," warning that "all successive governments have not taken upon themselves the importance of citizens' awareness of preserving the environment."

Al-Fakhri continued, “Iraq’s problem is internal, but we must be careful about our interests in dealing with others, and the Central Bank, despite its measures, has not succeeded in reducing the price of the dollar, and the Iraqi banking system needs to be completely restructured.”

He added, "I do not agree with the Central Bank to withdraw deposits in dinars while they are deposited in dollars, especially since we need to encourage the savings system. It is also not the duty of the Central Bank to enter into an auction to sell the currency, but rather its duty to supervise and maintain the monetary policy in the country."

Al-Fakhri stressed "the importance of keeping pace with the world through the use of global financial technologies, as the use of credit cards helps to adopt official exchange and dispense with banking offices."

He concluded by saying, "There is no real will to change the banking system in Iraq, and everyone bears the responsibility of spreading awareness." Wafaa Al-Fatlawi LINK

Wall Street Journal: America Refused To Give Iraq A Billion Dollars Of Its Oil Money

October 5 20:05 Information/translation.. A report by the American Wall Street Journal revealed, on Thursday, that Iraq asked the United States for one billion dollars in cash from its funds, but the United States refused this under the pretext of money laundering.

The report, translated by the “Al-Ma’louma” agency, stated, “Iraq is seeking to obtain a special shipment worth one billion dollars in cash from the Federal Reserve Bank in New York, but American officials declined to approve, saying that the request conflicts with their efforts to curb Baghdad’s use of the dollar and stop illicit cash flows.” While Baghdad said that it needs funds derived from its oil sales to support its cash reserves.

The report added, "Since the American invasion of Iraq two decades ago, the United States has been providing $10 billion or more annually to Baghdad on bi-monthly cargo flights carrying huge pallets of cash, derived from proceeds from Iraqi oil sales deposited with the Federal Reserve Bank," it says. American officials said that banknotes in the hands of Iraqis have become a lucrative source for illicit dollars and corrupt politicians.

The report continued, "Iraq said it needs funds to help support its faltering currency, while a senior Iraqi official said that after the United States rejected Iraq's initial appeal last month, the Central Bank of Iraq submitted an official request last week, and the US Treasury Department is still... "You study it."

The report continued, "According to Iraqi officials, Treasury officials informed Iraqi bank governors that sending a large additional shipment conflicts with Washington's goal of reducing Iraq's use of American banknotes in favor of electronic transactions that can be more easily tracked. Meanwhile, American officials said that there is strong evidence that "Some of the dollars that used to go to Iraq are smuggled in cash."

The report noted that "the initial American refusal angered some Iraqi officials, who said they requested an additional billion dollars from their own funds because the country's cash reserves declined after Washington's attempts to restrict the flow of dollars led to widespread panic and hoarding of dollars on stock exchanges."

For his part, a member of the Finance Committee in the Iraqi Parliament, Mueen Al-Kazemi, said, “The American side is making excuses for not giving Iraq its legal and legitimate funds.” LINK

An “Urgent” Warning Of A Danger Threatening The Political System And Iraq’s Relationship With Iran

10/12/2023 2493 Earth News/ Economist Nabil Al-Marsoumi warned on Thursday of the continuing widening gap between the official and parallel dollar prices.

Al-Marsoumi stated in a clarification followed by Earth News that “the continuing growing gap between the official and parallel rates of the dinar against the dollar poses a danger to the political system and the Iraqi government if it is not neutralized or reduced.”

He added, "This will ultimately lead to drying up the sources of the monetary dollar and then stopping commercial dealings between Iraq and Iran, which will lead to harming the supreme economic interests of Iran, which considers Iraq to be at the heart of the Iranian economic strategy, which provides it with an important source for obtaining the American dollar and an important tributary for more employment." One million Iranian workers work to produce and export goods to Iraq.”

He continued, "All of this may ultimately lead to serious developments in political and economic relations between Iraq and Iran." https://earthiq.news/archives/287360

DINARRECAPS8 10/12/23 DINARRECAPS8 10/12/23

Iraq Economic News and Points to Ponder Thursday Afternoon 10-12-23

Tlm724 Administrator Bondlady’s Corner

For The Second Day...The Dollar Continues To Decline Against The Iraqi Dinar

Time: 2023/10/12 10:25:06 Read: 3,432 times {Economic: Al-Furat News} Dollar prices fell, today, Thursday, in Baghdad markets

The prices were as follows.. The selling price was 161,500 Iraqi dinars, while the purchase amounted to 159,500 dinars per 100 dollars.

Iraq Economic News and Points to Ponder Thursday Afternoon 10-12-23

Tlm724 Administrator Bondlady’s Corner

For The Second Day...The Dollar Continues To Decline Against The Iraqi Dinar

Time: 2023/10/12 10:25:06 Read: 3,432 times {Economic: Al-Furat News} Dollar prices fell, today, Thursday, in Baghdad markets

The prices were as follows.. The selling price was 161,500 Iraqi dinars, while the purchase amounted to 159,500 dinars per 100 dollars. Link

Slight Decline In Dollar Exchange Rates In Baghdad

Economy Wednesday, October 11, 2023 Baghdad / National News Center Today, Wednesday, dollar prices recorded a slight decline in the markets of the capital, Baghdad, to record 162,100 dinars against 100 dollars, while yesterday, Tuesday, prices were 163,000 dinars against 100 dollars.

Selling prices in exchange shops in local markets in Baghdad reached 163,000 dinars per 100 dollars, while purchasing prices reached 161,000 dinars per 100 dollars. https://nnciraq.com/231158/

By More Than 300%...The OPEC Countries Implement The “OPEC+” Agreement

Economy Thursday, October 12, 2023 Follow-up / National News Center The Russian “Novosti” agency reported today, Thursday, that oil production in OPEC member states rose last month by 273 thousand barrels per day compared to the previous month.

The organization's monthly report stated that production reached an average level of 27.75 million barrels per day thanks to Nigeria, Saudi Arabia, and Kuwait. During this, the OPEC countries participating in the “OPEC+” agreement produced 3.88 million barrels per day less than the permissible levels, implementing the agreement by 305%.

The report explained that, according to some sources, OPEC’s total production of crude oil reached an average of 27.75 million barrels per day in September 2023, an increase of 273 thousand barrels per day compared to last August. Oil production increased mainly in Nigeria, Saudi Arabia and Kuwait, while production decreased in Venezuela and Equatorial Guinea.

Thus, OPEC fulfilled the “OPEC+” agreement by 305%, which led to reducing production by 3.88 million barrels per day above the prescribed quotas. https://nnciraq.com/231426/

The Federal Supreme Court Issues A Ruling Confirming Its Role In Protecting Public Money

Iraq Thursday, October 12, 2023 Baghdad/National News Center Today, Thursday, the Federal Supreme Court issued a ruling affirming its role in protecting public money.

The court stated in a statement received by the National News Centre, that it “ruled, in a ruling issued in a public session and with the agreement of all its members, to reject the challenge to the constitutionality of the text of Article (19/Fourth) of the Integrity Commission Law No. 30 of 2011, amended by Law No. 30 of 2017, which stipulates (The court shall order the return of the value of the illegal gain.

Those convicted in accordance with clauses (Second) and (Third) of this article shall not be released except after paying the amount of the fine and returning the value of the illegal gain. The expiration of the criminal case due to death shall not prevent the implementation of the ruling to return the value of the illegal gain.) from him".

She pointed out that it is “a legislative option for the House of Representatives in accordance with its constitutional jurisdiction to legislate federal laws, and it came for organizational and procedural matters, the purpose of which is to protect public funds in accordance with what was stated in Article (27/First) of the Constitution, which affirmed the sanctity of public funds and that protecting them is the duty of every citizen.” https://nnciraq.com/231366/

In 5 Sessions.. Iraqi Market: Trading Of Shares Worth More Than 4 Billion Dinars

Money and business Economy News – Baghdad Today, Thursday, the Iraq Stock Exchange announced the weekly trading indicators.

It was stated in a statement received by Al-Eqtisad News that, “During the second week of October 2023, the Iraqi Stock Exchange organized five trading sessions from Sunday (October Cool to Thursday (October 12).”

The statement added: “During this week, the following indicators were achieved:

1. The number of shares traded during this week reached more than 2 billion shares.

2. The value of shares traded this week amounted to more than 4 billion dinars.

3. The market trading index closed for the first session of the week at (836.30) points, while the index closed at the end of the week at (816.10) points, achieving a decrease of (2.48%) from its close at the first session.

4. During the week, (3043) purchase and sale contracts were executed on the shares of companies listed in the market. Views 39 10/12/2023 - https://economy-news.net/content.php?id=36939

A Source In The Central Bank Denies, Via “Al-Iqtisad News,” The Suspension Of The “Western Union” Service.

Money and business Economy News – Baghdad On Thursday, a source in the Central Bank of Iraq denied reports about the suspension of the “Western Union” international financial transfer service in Iraq.

The source told Al-Iqtisad News Agency: “The Central Bank of Iraq denies this news and there is no truth to the existence of such a practice.”

The source called for "not to circulate news from unknown and incorrect sources."

Views 69 10/12/2023 - https://economy-news.net/content.php?id=36940

Oil Prices Decline, And Brent Crude Oil Reaches $85 Per Barrel

Economy | 12/10/2023 Baghdad - Mawazine News Today, Thursday (October 12, 2023), oil prices continued to decline for the third session, affected by a larger-than-expected increase in crude and gasoline inventories in the United States and a decline in concerns about supplies.

By 0138 GMT, Brent crude futures fell 41 cents, equivalent to 0.48 percent, to $85.41 per barrel. While US West Texas Intermediate crude fell 49 cents, or 0.59 percent, to $83 per barrel.

Both benchmarks gave up most of their gains at the beginning of the week.

US crude oil inventories increased by about 12.9 million barrels, according to market sources, citing American Petroleum Institute figures on Wednesday.

This is much higher than the increase of 500,000 barrels that analysts expected in a Reuters poll.

The data showed that gasoline stocks also rose by 3.6 million barrels, which is completely contrary to the decline of 800,000 barrels that analysts expected, as fears of a slowdown in demand for fuel in the United States continue.

Markets are awaiting more data on inventories from the US Energy Information Administration, scheduled to be released later on Thursday at 1430 GMT.

https://www.mawazin.net/Details.aspx?jimare=236242

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

https://www.bondladyscorner.com/

Points to Ponder from The Seat of the Soul By Gary Zukav:

You create your reality with your intentions

An intention is a quality of consciousness that you bring to an action

At each moment you choose the intentions that will shape your experiences and those things upon which you will focus your attention -- If you choose unconsciously, you evolve unconsciously -- If you choose consciously, you evolve consciously

Every action, thought, and feeling is motivated by an intention -- and that intention is a cause that exists as one with an effect -- If we participate in the cause - it is not possible for us not to participate in the effect -- In this most profound way - we are held responsible for our every action , thought, and feeling, which is to say, for our every intention

From the perception of the five sensory human, intentions have no effects, the effects of actions are physical, and not all actions affect us or others -- From the perception of the multi sensory human -- the intention behind an action determines its effects, every intention affects both us and others -- and the effects of intentions extend far beyond the physical world

Feel your intentions in your heart -- Feel not what your mind tells you, but what your heart tells you

DINARRECAPS8 10/12/23 DINARRECAPS8 10/12/23

Global Central Banks Are Hoarding Gold Like Never Before

Anil Varma Tue, October 10, 2023

Global Central Banks Are Hoarding Gold Like Never Before As They Seek To Reduce 'Overconcentration' Of Dollar Reserves

Global central banks have been buying record amounts of gold as they seek to diversify reserves away from the dollar. "We expect central banks to continue their role as net purchasers of gold," according to the head of gold strategy at State Street. The trend appears to be part of the broader de-dollarization drive, led by countries including China and Russia.

Global central banks have been snapping up record amounts of gold since the start of 2022 - a trend that should continue as countries look to move away from an "overconcentration" of reserves in the dollar, according to State Street Global Advisors.

Global Central Banks Are Hoarding Gold Like Never Before

Anil Varma Tue, October 10, 2023

Global Central Banks Are Hoarding Gold Like Never Before As They Seek To Reduce 'Overconcentration' Of Dollar Reserves Global central banks have been buying record amounts of gold as they seek to diversify reserves away from the dollar. "We expect central banks to continue their role as net purchasers of gold," according to the head of gold strategy at State Street. The trend appears to be part of the broader de-dollarization drive, led by countries including China and Russia.

Monetary authorities across nations made net purchases of 387 metric tons of the yellow metal in the first half of 2023, after buying an unprecedented 1,083 tons the whole of last year, the world's fourth-largest asset manager said in a recent note.

In addition to reserve diversification, the trend is also driven by central banks' desire to strengthen balance sheets and increase liquidity without adding credit risk, according to the firm.

"The reasons driving central bank gold purchases — to diversify their reserves, improve their balance sheets, and gain liquidity from an asset without credit risk — likely won't change given today's increasing economic and geopolitical risks," Maxwell Gold, head of gold strategy at State Street, wrote in the note.

"Therefore, as we look ahead, we expect central banks to continue their role as net purchasers of gold," he added.

De-dollarization

The trend appears to be part of a broader international movement - known as de-dollarization - to reduce reliance on the dollar in trade and investment, after the US leveraged the greenback's supremacy to impose economic sanctions on some countries. China and Russia have led the anti-dollar drive, which also saw the BRICS group of nations weigh the prospect of a shared currency.

"In recent years, the Society for Worldwide Interbank Financial Telecommunications (SWIFT) payments system has been used to impose sanctions, both on Iran in 2015 and on Russia in 2022 — a tactic some have described as "weaponization,"" Gold wrote.

"If a government perceives international sanctions as a real threat, then switching from US dollar assets to an anonymous counter like gold becomes extremely attractive, particularly in scenarios of multi-lateral sanctions by several reserve currency nations," he added.

Read the original article on Business Insider

https://markets.businessinsider.com/news/commodities/de-dollarization-global-central-banks-are-hoarding-gold-like-never-before-2023-10