Goldilocks' Comments and Global Economic News Wednesday Evening 11-8-23

Goldilocks' Comments and Global Economic News Wednesday Evening 11-8-23

Good Evening Dinar Recaps,

Dodd-Frank Update:
We have a lot of people utilizing digital apps these days that may not be covered under the FDIC protection mechanisms.   There is an ongoing movement to educate people in this area of their money holdings.   We have seen FTX and other cryptos fail this year without protections for their customers, and it is important to only invest what you can afford to lose in any of them.

As these systems become more integrated in the years to come, it is important to just simply be careful.

© Goldilocks
Dodd-Frank update Link

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How to Migrate to ISO 20022   ACI Worldwide Link

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Ripple To Partner With Georgia’s Central Bank in the Eurasian Country’s CBDC Pilot The Daily Hodl Link

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Supply Chain Resiliency Can Be Boosted with Production Production and Digital Maturity

Material Handling and Logistics Link

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Defaults of high-yield corporate bonds are accelerating and could bring a $46 billion wave of distressed debt in 2024, Bank of America says   BusinessInsider Link

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Metals Focus predicts a boost in precious metals demand due to advanced AI chips and electronic components.

Silver is expected to be most affected, being a key element in electronics and facing supply constraints with rising green energy needs.

Industrial demand for gold has dropped this year, but the overall tech sector uptake of precious metals is forecasted to rebound next year due to AI developments.

https://oilprice.com/Metals/Gold/AI-Surge-To-Fuel-Precious-Metals-Demand-In-2024.html

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PBoC in a Hurry to Buy Gold: Covertly Bought 593t of Gold YTD

https://www.gainesvillecoins.com/blog/pboc-in-hurry-to-buy-gold-covertly

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FCA and Bank of England publish proposals for regulating stablecoins   Bank of England Link

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MORE RUNS ON BANKS... EXPECT PRICE ACTION DISTORTIONS TO WORSEN, FASTER. 

Mannarino Link

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BRICS: Russia Dumps Currencies Worth $8.7 Million in Yuan & Ruble Set - BRICS continues to DUMP the dollar🔥

BRICS member Russia is aggressively buying and selling currencies in the foreign exchange markets. The Central Bank of Russia initiated large amounts of ‘buy’ and ‘sell’ of currencies in the domestic market on Tuesday. The regulator is exchanging currencies in the Moscow Exchange section and sold tenders worth 0.8 billion Rubles. The first settlement was initiated on November 2, 2023, continuing over Monday and Tuesday of this week.

It was reported on the 9th of October BRICS dumped a total of $123 billion in U.S. treasuries in 2023.

https://watcher.guru/news/brics-russia-dumps-currencies-worth-8-7-million-yuan-ruble

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CFPB Proposes New Federal Oversight of Big Tech Companies and Other Providers of Digital Wallets and Payment Apps 

Consumer Financial Protection Bureau Link

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Blockchain Revolution: A Race for Banking's Survival
https://www.financemagnates.com/cryptocurrency/blockchain-revolution-a-race-for-bankings-survival/

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Keough School expert to play key role in COP28 climate talks on food systems 

Notre Dame News Link

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Fedwire Will Get Boost From ISO 20022 and Data-Rich Messaging

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"Agencies Extend Comment Period on Proposed Rules to Strengthen Large Bank Capital Requirements"

The Office of The Comptroller of The Currency is informing us that they will begin the final phase of Basel 3 requirement implementations on January 16, 2024. 

This is the point to which the banking system will have enough capital requirements to synchronize their support of the banks and markets going forward.

Unless they extend this date, Basel 3 requirements will be on center stage.

© Goldilocks

https://www.occ.gov/news-issuances/news-releases/2023/nr-ia-2023-116.html

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Hello tomorrow I have a very very important cc to see where are we , as soon as I finish I will post , blessing   © Isaac

Isaac's room link   https://t.me/joinchat/Tc5mohvokA3F-CnM

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The Bank of Russia will be creating a digital ruble payment system with the United Arab Emirates.

This is a major development. Here comes CBDCs.   Read: https://x.com/goldtelegraph_/status/1722344359428075625?s=46

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Follow Goldilocks' Roadmap

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Thank you   Dinar Recaps

Iraq Economic News and Points to Ponder Wednesday Afternoon 11-8-23

Iraq Economic News and Points to Ponder Wednesday Afternoon 11-8-23

Tlm724 Administrator Bondlady’s Corner

Economist: The Dollar Exchange Rate Will Be Equal To The Government Price Early Next Year

 Economy    breaking    dollar price    Economic forecasts    Official pricing    Black market  2023-11-07 Shafaq News/ Academic and economic expert Dr. Khaled Haider expected today, Tuesday,  the price of the dollar to stabilize against the Iraqi dinar, close to government pricing, with the start of next year.

 Dr. Khaled Haider said in a statement to Shafaq News Agency, that  the current political situation is directly linked to the financial and economic situation of the region, and the  recent events in Gaza and the accusations directed at Iran of supporting Hamas are all reasons that make citizens expect that this situation will affect the economic situation, including the financial one, since Iraq It is an important economic region for Iran because a portion of the foreign currency goes to its eastern neighbor.” 

He pointed out that "administrative and financial corruption in Iraq plays a major role in the exchange rate difference, especially those who benefit from this difference,

 which prompts the Central Bank of Iraq to pump large amounts of dollars into the currency auction, ranging from 200 to 250 million dollars daily to cover the market’s need for currency, in

 While the actual daily need ranges between $190 to $200 million, the  bank is pumping more than that in an attempt to control the exchange rate.” 

Haider stated,  “Near-term expectations may be inaccurate, but it is expected, and

 according to a scientific economic reading, that the price of the dollar in the markets will approach the government pricing at the beginning of next year after the implementation of the Central Bank of Iraq’s decision to ban financial transactions in anything other than the Iraqi dinar, and

 this will make the Iraqi dinar More powerful in local markets.

 Regarding the impact of the fluctuation of the dollar exchange rate on the citizen, the economic expert confirmed that this “reflected negatively on the citizen, as today the exchange rate of 100 dollars reached more than 164 thousand Iraqi dinars, especially if we take into account that until the year 2020 the official exchange rate was 118 thousand dinars against... 100 dollars, while it currently ranges above 160 thousand dinars. Certainly, this disparity is reflected in the prices of consumer goods, since Iraq is a consuming country.”

 Earlier today, Shafaq News Agency correspondent said that dollar prices fell with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 165,250 dinars against 100 dollars, while prices this morning were 166,000 dinars against 100 dollars.

 https://shafaq.com/ar/اقتصـاد/خبير-اقتصادي-سعر-صرف-الدولار-سيوازي-التسعيرة-الحكومية-مطلع-العام-المقبل

In The Document... The Central Bank Allows Banks To Import Foreign Currency... Under Five Conditions

Wednesday 08, November 2023 | Economical Number of readings: 165  Baghdad / NINA / The Central Bank of Iraq decided, today, Wednesday, to allow banks to import foreign currency according to 5 conditions.

It was stated in a letter sent by the Central Bank of Iraq to the licensed banks, that “based on the requests received to the bank, and in order to provide the required flexibility for banks operating in Iraq, it was decided to allow the import of foreign currency from outside Iraq while adhering to the following:

 1 - That the uses of the amounts be For the purposes of meeting the requests of your customers, including duly registered companies, organizations, bodies, and individuals working for foreign companies or institutions who receive incoming remittances from outside Iraq.

2- Submit a request to the Central Bank of Iraq (Banking Control Department) that includes the quantity required to be entered along with the details of the shipment.

3- The Entering amounts exclusively through air ports.

4- Your commitment to registering the serial numbers for these shipments and providing the Banking Control Department with them and their recipients’ data later.

5- Providing the Central Bank with the name of the foreign shipping company with a copy of the license granted to it in its country.

The Central Bank of Iraq confirmed its continued provision of currency foreign products to meet customer requirements and in accordance with instructions and controls in this regard./End 8

https://ninanews.com/Website/News/Details?key=1088703

The Return Of The Rise In Dollar Exchange Rates In Local Markets

Time: 11/08/2023 17:04:54 Read: 1,443 times  {Economic: Al-Furat News} The exchange rates of the US dollar rose again against the Iraqi dinar, today, Wednesday, in Baghdad markets with the stock market closed.

With the closure of the main Kifah and Harithiya stock exchanges in Baghdad, dollar prices recorded 164,600 Iraqi dinars against 100 dollars, while prices this morning were 163,300 dinars against 100 dollars.

Until the selling prices in the exchange shops in the local markets in Baghdad rose, as the selling price reached 165,750 Iraqi dinars for 100 dollars, while the purchase price reached 163,750 dinars for 100 dollars.  LINK

Foreign Remittances Increased By 86% In The Iraqi Currency Auction

Wednesday 08, November 2023 15:27 | Economical Number of readings: 237  Baghdad / NINA / External remittances increased at the Central Bank of Iraq auction, today, Wednesday, by 86% at the expense of cash sales, to reach 197 million dollars.

The Central Bank stated in a statement: “Today, during its auction for buying and selling the US dollar, the Central Bank sold 225 million 801 thousand and 357 dollars, which the bank covered at a base exchange rate of 1,305 dinars, per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar.” For external transfers at the same price per dollar in cash.

He added, "Most of the bank's dollar sales went to strengthen balances abroad in the form of (remittances, credits), which amounted to 197 million 651 thousand and 357 dollars, an increase of 86%, compared to cash sales amounting to 28 million 150 thousand dollars."

He pointed out that "the number of banks that purchased cash dollars reached 8 banks, while the number of banks that responded to requests to enhance balances abroad reached 18 banks, while the total number of exchange and brokerage companies participating in the auction was 97 companies."/End    https://ninanews.com/Website/News/Details?key=1088674

Chairman Of The National Investment Commission: Iraq Looks Forward To Effective Levels Of Economic And Investment Cooperation

Wednesday 08, November 2023 15:00 | Economical Number of readings: 288   Baghdad / NINA / The head of the National Investment Commission, Haider Muhammad Makkiya, confirmed that Iraq is looking forward to effective levels of economic and investment cooperation.

He said during his meeting with Iraqi ambassadors to China, Japan and South Korea: "Iraq is looking forward to levels of effective economic and investment cooperation among major companies and foreign businessmen." 

He added: "The Authority's policy is to expand regional and international transactions to enhance the confidence factor in the Iraqi investment environment."

He continued: “The work programs prepared to develop the reality of investment will adopt joint mechanisms with developed countries in East Asia and various countries in the fields of investment and business.”/ End   https://ninanews.com/Website/News/Details?key=1088670

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

https://www.bondladyscorner.com/

Provoking Points to Ponder on Character:

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

Goldilocks' Comments and Global Economic News Late Wednesday Morning 11-8-23

Goldilocks' Comments and Global Economic News Late Wednesday Morning 11-8-23

Good Morning Dinar Recaps,

Iraq's pursuit of a unified oil law since 2017 is seen as a step towards national unity but may threaten Kurdistan's semi-autonomous status and exclude Western energy involvement.

Russia and China are increasing their presence in Iraq's oil market, capitalizing on reduced U.S. influence in the Middle East and leveraging strategic alliances.

The new oil law, controlled from Baghdad, is intended to manage all oil and gas production in Iraq, consolidating power and possibly marking a shift away from Western energy dominance. OilPrice Link

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There are still plenty of Copper Pennies for YOU

https://youtu.be/Q8orFTsGUJo?feature=shared

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BRICS: What Happens if Saudi Arabia Ditches US Dollar for Oil?
https://watcher.guru/news/brics-what-happens-if-saudi-arabia-ditch-us-dollar-oil

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JUST IN: HSBC, one of the largest banks in the world, to launch a digital-assets custody service for institutional clients.   @WatcherGuru

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Record Number of Supertankers Heads to the Gulf to Export US Oil – MishTalk
https://mishtalk.com/economics/record-number-of-supertankers-heads-to-the-gulf-to-export-us-oil/

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The CFTC just released its results on holding the new economy into account and alignment with traditional mechanisms already in place to secure a safe and efficient digital economic system.

As we transition into a digital economy, it has been important that all of these new digital applications register and follow regulatory guidelines. This article gives you an idea of some of the changes and recommendations that have taken place in 2023. It has been a year of transition.

In 2024, we are going to see the new digital economy come into play. Various sectors of the market will move forward faster than others depending on how much they have integrated themselves into the new digital asset-based trading system.

Some countries will be further along than others. Either way, it is time to begin implementing tokenized assets on the market that will guide us forward.

These new tokenized assets will have real values based on Commodities supporting them and standard protocols. This is why the new economy is called the digital asset-based trading system to cover all titles of what is involved in bringing it about.

© Goldilocks https://www.cftc.gov/PressRoom/PressReleases/8822-23

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Follow Goldilocks'   Roadmap

Follow Goldilocks'   Timeline

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Goldilocks on the Seeds of Wisdom Team™  Website

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Thank you  Dinar Recaps

Some "Wednesday News" Posted by Clare at KTFA 11-8-2023

KTFA:

Clare:  The Ministry of Interior is in the process of opening sites for the national card and electronic passport in countries around the world

11/8/2023  Baghdad

The Minister of Interior, Abdul Amir Al-Shammari, confirmed on Wednesday that the ministry is working to open new sites for the national card and the electronic passport in a number of countries around the world.

Al-Shammari’s media office stated in a statement received by Al-Eqtisad News, “Minister of Interior, Abdul Amir Al-Shammari, participated in the seventh ambassadors’ conference, which included a dialogue seminar on (the consular services session), where discussion and dialogue took place regarding the joint work strategy between the Ministries of Interior and Foreign Affairs.” .

Al-Shammari stressed, according to the statement, “The Ministry of Interior always seeks to provide the best services to the Iraqi community by opening new sites for the national card and the electronic passport in a number of countries around the world, to facilitate the granting of documents.”

He pointed out that "the Ministry is working on an electronic entry visa (visa) project that will solve many of the obstacles facing the work of Iraqi missions abroad."  LINK

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Clare: The Central Bank allows Iraqi banks to import foreign currency and requires them to meet 5 conditions (document)

11/8/2023

The Central Bank of Iraq decided, on Wednesday, to allow Iraqi banks to import foreign exchange according to 5 conditions.

It was stated in a letter sent by the Central Bank of Iraq to the licensed banks and obtained by Shafaq News Agency, “Based on the requests received to the bank, and in order to provide the required flexibility to banks operating in Iraq, it was decided to allow you to import foreign currency from outside Iraq while adhering to the following: -

1- The amounts will be used for the purposes of meeting Ziyankum’s requests from duly registered companies, organizations and bodies, and individuals working for foreign companies or institutions who receive incoming remittances from outside Iraq.

2- Submit a request to the Central Bank of Iraq (Banking Control Department) that includes the quantity required to be entered along with the details of the shipment.

3- Payments must be entered exclusively through air ports.

4- Your commitment to register the serial numbers of these shipments and provide the Banking Control Department with them and the data of their recipients later.

5- Providing the Central Bank with the name of the foreign shipping company along with a copy of the license granted to it in its country.

The Central Bank of Iraq confirmed its continued provision of foreign currency to meet customer requirements and in accordance with instructions and controls in this regard. LINK

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Clare:  America says it is following the resumption of Kurdistan oil exports and the draft oil and gas law

11/7/2023

The Ministry of Natural Resources in the Kurdistan Regional Government announced, on Tuesday, that an American diplomatic delegation confirmed that Washington is closely following the process of resuming oil exports through the region’s pipeline to Turkey and legislating the oil and gas law. 

A statement from the ministry, received by Shafaq News Agency, said that the Kurdistan Minister of Electricity and Natural Resources, Kamal Muhammad Salih, received today, Tuesday, the American Consul General in Erbil, Mark Straw, pointing out that the new American Consul expressed his pleasure to invest in the electricity, energy and oil sector.   

The statement indicated that the American consul confirmed regarding the issue of resuming oil exports (via the region’s pipeline to the Turkish port of Ceyhan) and the issuance of the draft federal oil and gas law that his country is closely following the process of resuming the region’s oil exports, indicating that Washington knows that suspending exports has negative effects on the region’s oil exports. Revenues of the region and its public sector. 

Straw added, according to the statement, that addressing the revenue problem and approving the oil and gas law are among the priorities of his country's policy and programs. 

The statement indicated that Minister Saleh expressed his thanks for America's role in giving importance to efforts to resume the region's oil exports, follow up on addressing oil and gas problems, expand investment, and approve the federal oil and gas law with the participation of the Kurdistan Region.   LINK

Clare: Parliamentary Finance calls for an emergency session regarding the rise in the dollar... and warns strongly of its repercussions

11/7/2023

The Parliamentary Finance Committee called on the leaders of the political blocs to hold an emergency session of the House of Representatives regarding the rise in the price of the dollar against the Iraqi dinar.

Committee member Jamal Cougar said, in a press statement, that “there are many reasons for the rise in the dollar, including the failure to spend the budget in the required manner so that it is not exploited by the parties participating in the elections,” noting that “there is a will that wants to thwart the {SWIFT} system on the part of the influential parties.” What he said.

He pointed out that "other reasons are the many complications in the way of companies, investors, traders, and private sector people to obtain the dollar from the platform, in addition to the mafia’s control over the dollar platform through which it is spent."

Koger pointed out “the political concern about the repercussions of the Gaza war on the entire region, and the Iraqi position on the events may lead in the future, if it engages in the conflict, to repercussions that may be more severe,” stressing that “the solution lies in disbursing the budget, providing very many facilities to investors, and simplifying government procedures to obtain the dollar.” In addition to striking mafias and limiting their influence and control over banks.”

The parliamentary finance member called for holding an emergency session in the presence of the leaders of the political blocs and specialists and informing them of the dangers of not implementing the SWIFT system and its repercussions on the political, economic, and even security and social dimensions. LINK

DCDriver:  they are actually talking about entering the swift system? Wow!!

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Clare: The government issues new instructions regarding the dollar exchange rate mechanism

11/7/2023 Information / Baghdad..

On Tuesday, the Council of Ministers held its forty-fifth regular session headed by Prime Minister Muhammad Shiaa Al-Sudani, while taking a set of decisions regarding the dollar price mechanism and maximizing the state’s imports.

The Office of the President of the Council stated in a statement received by “Al-Ma’louma” that, “In the course of government action to regulate financial transactions based on the dollar, the Council agreed to amend Paragraph (3) of Cabinet Resolution (23545 of 2023) regarding the dollar exchange rate mechanism, to become according to The following: With regard to Iraqi borrowers from government banks (including the Iraqi Trade Bank) in the US dollar currency, these banks are committed to repaying their loans at the official exchange rate (1,320 dinars) for every US dollar from the borrower, provided that the Central Bank of Iraq strengthens the banks’ accounts in dollars for transfer purposes. The external exchange rate, and at the official exchange rate, according to its need, and this procedure applies exclusively to loans that were disbursed before the issuance of this decision.

As part of the government’s efforts to combat corruption and recover stolen funds, the Council of Ministers agreed to “issue instructions to facilitate the implementation of the provisions of the Iraq Money Recovery Fund Law No. (9) of 2012, based on the provisions of the Constitution and Article (9) of the aforementioned law, taking into consideration the proposals.” set forth in the draft project submitted by the Iraq Assets Recovery Fund, and the notes of the Legal Department in the General Secretariat of the Council of Ministers.”

In the direction of working to maximize the state’s imports, the Ministry of Commerce was approved to sell (49,624,767) kg, or forty-nine thousand six hundred and twenty-four tons, and seven hundred and sixty-seven kg, of damaged wheat that is not suitable for animal consumption, and to export it outside the country for final disposal, provided that Its release shall be under the supervision and follow-up of the National Security Service, provided that the sale is made at public auction for export purposes, and that the price is determined by the Estimation Committee formed in accordance with the Law on the Sale and Rent of State Funds, in accordance with the procedures stipulated in Article (8) of this law, and the amount shall be transferred to The Public Treasury, according to Paragraph (3) of Cabinet Resolution (360 of 2022).”

The recommendation of the Ministerial Council for the Economy (230276 Q) was also approved as follows: Approval of what was stated in the letter of the Ministry of Agriculture dated October 5, 2023, regarding the sale of the remaining quantity of premix amounting to (1,113,955) kg, one thousand one hundred and thirteen tons and nine hundred and fifty-five. kg, belonging to the General Company for Agricultural Equipment, without public bidding; Because it is highly perishable, based on the provisions of the Law on the Sale and Rent of State Funds (21 of 2013), provided that the aforementioned ministry bears the financial and legal consequences and the accuracy of the information.” 

As well as "the Ministry of Agriculture's scrutiny of the reasons for purchasing quantities greater than the actual need."

The Council voted to "address the debts owed by the Ministries of Defense and Interior and the Popular Mobilization Authority, regarding medicines and medical supplies from the Ministry of Health/The General Company for Marketing Medicines and Medical Supplies (Kimadia), through coordination between the Ministry of Health and the relevant authorities, and providing the Ministry of Finance with what supports these debts." The amount will be secured this year/2023, or next year/2024.”   LINK

Iraqi News Highlights and Points to Ponder Wednesday AM 11-8-23

Iraqi News Highlights and Points to Ponder Wednesday AM 11-8-23

Parliamentary Finance Calls On Bloc Leaders For An Emergency Session Regarding The Rise In The Dollar

Political | 11:08 - 08/11/2023  Baghdad - Mawazine News  The Parliamentary Finance Committee called on the leaders of the political blocs to hold an emergency session regarding the rise in the price of the dollar against the Iraqi dinar, while describing the Central Bank’s solutions as marginal and not helping to solve the problem.

Member of the Finance Committee, Jamal Kujar, said in an interview with the official newspaper, “There are many reasons for the rise in the dollar, including the failure to spend the budget in the required manner so that it is not exploited by the parties participating in the elections,” noting the presence of a will that wants to thwart the “SWIFT” system on the part of the influential parties.

He pointed out, “The other reasons are the many complications in the way of companies, investors, traders, and private sector people to obtain the dollar from the platform, in addition to the mafia’s control over the dollar platform through which it is spent.”

Cougar pointed out, “Political concern about the repercussions of the Gaza war on the entire region, and the Iraqi position on the events may lead in the future, if it engages in the conflict, to repercussions that may be more severe,” stressing that “the solution lies in disbursing the budget, providing very many facilities to investors, and simplifying government procedures to obtain the dollar.” In addition to striking mafias and limiting their influence and control over banks.”

He called for "holding an emergency session in the presence of leaders of political blocs and specialists and informing them of the dangers of not implementing the SWIFT system and its repercussions on the political, economic, and even security and social dimensions."

https://www.mawazin.net/Details.aspx?jimare=237448

With The Rise Of The Dollar, The Central Bank Governor Is The Subject Of Questioning

By video  2023-11-07 | 13:00  Source:  Alsumaria News  2 views  Gradually, the crisis of the rise in the dollar is developing, with judicial procedures continuing to investigate an official at the Central Bank and parliamentary procedures moving towards questioning the bank governor.

Slowly, the reasons for the rise in dollar prices are becoming clearer, after representatives revealed investigations conducted by the judiciary with the general director of the Central Bank on suspicion of corruption, price manipulation, and serious issues, as a result of which a foreign bank was able to acquire two billion dollars a month.

What was Parliament's position on the issue of corruption? See the report above for details.   LINK

Expecting A "Jump In The Exchange Rate"... The Chamber Of Commerce Proposes A "Salary Dollar" Proposal.

Economy | Baghdad Today - Baghdad   The price of the dollar continues to rise in the parallel market amid expectations of a “new jump” in the exchange rate, especially since many private banks are “a front for political parties,” according to specialists. Expecting a "jump in the exchange rate"... The Chamber of Commerce proposes a "salary dollar" propos -2

"Salary Dollar" Proposal

Today, Wednesday (November 8, 2023), the Diyala Chamber of Commerce introduced what it called the “salary dollar” temporarily to limit the rise in the parallel market.

The head of the Diyala Chamber of Commerce, Muhammad al-Tamimi, said in an interview with “Baghdad Today,” that “the rise in the dollar exchange rate in the parallel market in recent days is worrying, especially with assurances from experts that the rise will not remain at limits ranging between 160-170 thousand dinars for every $100.” "In fact, it may jump to higher numbers."

He adds, "The rise in the exchange rate in the parallel market indicates the presence of influential parties, some of which are deeply embedded in state institutions, and do not want to abandon the river of money that flows into the pockets of politicians and elites under various titles."

He pointed out that "a not insignificant portion of the banks are fronts for political parties and blocs," noting that "the psychological state constitutes another factor in raising the dollar, with many refusing to give it up. Some of them even began to push to change the cash they have in Iraqi dinars into dollars out of greed." In other profits and for fear that the national currency will lose more strength in the face of the rise of the parallel market.”

Al-Tamimi called for "adopting the experience of granting part of employees' salaries in dollars temporarily and according to the official price of the dollar, away from the currency auction, which is subject to powerful banks and financial forces that profit daily tens of billions of dinars within seconds with the difference in currency between the official and the parallel."

 He stated that “giving employees dollars will achieve stability and prevent the auction from being exploited to increase the wealth of powerful parties.”

Governmental Reasons And Intentions

In recent days, the exchange rate of the dollar against the Iraqi dinar has witnessed a significant rise, approaching 170,000 dinars for every 100 dollars, which has become a burden on the Iraqi citizen who is struggling to provide a living.

On (November 6, 2023), Member of Parliament Hussein Habib identified the reasons for the rise of the dollar in the country at an accelerating pace in the past weeks, stressing that the intentions of Prime Minister Muhammad Shiaa Al-Sudani are not sufficient to contain the parallel market crisis.

Habib said in an interview with “Baghdad Today” that “the dollar crisis in Iraqi markets is primarily linked to internal factors, most notably the mishandling of the currency and its monopoly by mafias and influential parties, as well as smuggling. As for external factors, they are linked to the political situation of the government and the extent of its acceptability by Washington.” The sponsor of the dollar and the official currency.

He added, "The Sudanese government has actually begun to take steps to address currency smuggling and prevent its circulation in the hands of mafias and influential parties, but they are not sufficient and must be strengthened with other steps to ensure that the dollar reaches those who need it, whether for trade, travel, or treatment, to confront its steady rise in the markets."

He pointed out that "the arrest of speculators and the tightening of the mechanisms for granting the dollar have an impact, but it remains limited, and attention must be given to another issue that is the most important by activating factories and laboratories to meet the needs of the markets and reduce the export of the dollar abroad because the proportion of Iraq's imports has reached the peak level due to the absence of national production."

He continued: "The state's monopoly on the import file for medicines and basic materials is important in order to limit speculation and for the dollar to be allocated to specific segments and to push merchants to rebuild factories and give all facilities and support in order to end the dollarization file in the markets and adopt the national currency in all internal transactions."   LINK

A Slight Decline In Dollar Exchange Rates In Baghdad Money Exchangers

Baghdad today – Baghdad  Today, Wednesday (November 8, 2023), the dollar exchange rates recorded a slight decrease in exchange offices in the capital, Baghdad.

The "Baghdad Today" correspondent said, "The selling price of the dollar in exchange offices in Baghdad today reached 164,250 dinars for every 100 dollars."

He added, "The purchase price reached 162,250 dinars for every 100 dollars."  LINK

Al-Rasheed Issues A Warning To Those Wishing To Obtain Dollars For Travel Purposes

Information/Baghdad..  Today, Wednesday, Al-Rasheed Bank issued a warning to those wishing to obtain the dollar for travel purposes.

The bank said in a statement received by the “Al-Ma’louma” agency, “It has recently been noticed that pages and offices have been published promoting electronic submission for the purpose of purchasing dollars for travel.”

The bank warned “all citizens against dealing with these fake offices and pages as they are theft of official papers,” stressing that “submitting through the link on the bank’s official page is easy and smooth and does not require any intermediary.”   https://edollar.rasheedbank.gov.iq   LINK

Provoking Points to Ponder on Dreaming & Believing:

The most powerful thing you can do to change the world, is to change your own beliefs about the nature of life, people, reality, to something more positive.... and to begin to act accordingly - Shakti Gawain- Creative Visualisation 

Ask and it shall be given you; seek - and ye shall find; knock - and it shall be opened unto you -- For every one that asketh - receiveth; and he that seeketh - findeth; and to him that knocketh - it shall be opened - Matthew 7: 7,8
               
Expect your every need to be met, Expect the answer to every problem, Expect abundance on every level, Expect to grow spiritually - Ellen Caddy - The Dawn of Change 

Expect the best: Convert problems into opportunities; Be dissatisfied with the status quo: Focus on where you want to go, instead of where you're coming from; and most importantly, Decide to be happy, knowing it's an attitude, a habit gained from daily practice, and not a result or payoff - Dennis Waitley - The Winners Edge

When you are inspired by some great purpose - some extraordinary project - all your thoughts break their bonds - your mind transcends limitations - your consciousness expands in every direction -- and you find yourself in a new, great and wonderful world -- Dormant forces, faculties and talents become alive, and you discover yourself to be a greater person by far than you ever dreamed yourself to be - Patanjali

Trials are but lessons that you failed to learn presented once again - so where you made a faulty choice before you can now make a better one - and thus escape all pain that what you chose before has brought to you - A Course in Miracles

"Tidbits From TNT" Wednesday Morning 11-8-2023

TNT:

Tishwash:  The government is reviewing the latest offers from international companies to implement projects in Al-Faw Port

 Prime Minister Muhammad Shiaa Al-Sudani chaired the fifth meeting of the Supreme Committee for the implementation of the development road project and the Grand Al-Faw Port.

A statement from the Prime Minister's Office, a copy of which was received by {Al-Furat News}, said, "The meeting witnessed the hosting of the Italian consultant who presented the economic feasibility study for the three projects, which include the Al-Faw port project, the docks and attached yards, the associated railway project, and the land road project and its details."

The statement referred to "a review of the latest measures taken and offers submitted by reputable international companies to implement the project."  link

Tishwash: An American official from Erbil: Passing the oil and gas law is a priority for Washington

The new US consul in Erbil, Mark Straw, confirmed on Tuesday that addressing the revenue problem and passing the oil and gas law will be Washington’s priorities and agenda in Kurdistan.

A statement from the Ministry of Natural Resources, the regional government, said, “The Acting Minister of Electricity and Natural Resources, Kamal Muhammad Salih, received today the American Consul General in the Kurdistan Region, Mark Straw.”

The statement added, "The Minister of Electricity and Natural Resources thanked the United States of America for its role in resuming oil exports to the Kurdistan region, following up on solving oil and gas problems, expanding investment, and approving the federal oil and gas law with the Kurdistan region."

In turn, the American Consul confirmed, “We are closely following the process of resuming oil exports and we know that the suspension of oil has had a negative impact on revenues and citizens, and that addressing the revenue problem and passing the oil and gas law will be among the priorities of Washington’s policy and agenda.”

He expressed his "happiness with investing in the electricity, energy and oil sectors." link

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

CandyKisses:  Minister Hasan: We Have 28 Hospitals Under Construction

Economy Baghdad News

Health Minister Saleh al-Hasnawi announced on Tuesday the direction to rehabilitate Fatima al-Zahra Hospital in Habibiyah, Baghdad, and between 28 hospitals under construction, he confirmed the introduction of about 2000,<> new beds into service.

Al-Hasnawi said, in an interview conducted by the official news agency and seen by "Economy News", that "the government and health program witnessed in the first year of the government's life a good rate of achievement, including the opening of Al-Sayyab hospitals in Basra, and the martyr wise in Maysan with a capacity of 492 beds each, and the Bone Marrow Transplant and Hematology Hospital in the Medical City with a capacity of 125 beds, and Al-Hadba Hospital in Mosul with a capacity of 85 beds, and Al-Hayat Hospital for the treatment of addiction patients with a capacity of 125 beds, in addition to the Children's Hospital in Karbala. Holy Phase II with a capacity of 200 beds."

Al-Hasnawi added, "We have introduced specialized centers for service, including the Fallujah Center for Burns, and the Fallujah Center for Cardiac Surgery, and we have also introduced special lobbies in most provinces related to isolation lobbies for communicable diseases, and we have also opened cancer centers, the most important of which is the Wasit Center for Cancer Diseases, which is an integrated center that provides diagnostic and therapeutic services, in addition to the rehabilitation of hospitals in the provinces, and the full rehabilitation of Tikrit, Ramadi and Kadhimiya hospitals, and the Medical City in Baghdad, the most important of which is the surgical emergency lobby with two operating halls and diagnostic rooms, which received the year. The past thousands of patients, and conducted in this hall hundreds of surgeries, in addition to the rehabilitation of Al-Kindi Hospital, and Ibn Al-Baladi Hospital, and now there is rehabilitation work for Yarmouk Hospital," pointing out that "Fatima Al-Zahra Hospital in the Habibiya area is on the gates of rehabilitation in addition to building in a large number of hospitals in Baghdad and the provinces."

He stressed that "the ministry has 28 hospitals under construction, 20 of which are in the governorates, where the ministry introduced this year of the government's life 1650 new beds for health services, and introduced more than 300 beds for dialysis, and introduced cancer centers Department of rehabilitation and modernization of devices, and the department of introducing new cancer centers," noting that "the first phase was good, but our ambitions are greater, and we are moving the government program at a faster pace considering that the budget continues for next year, and there is no budget 1/12 that hinders work at the beginning of the year."

Regarding the program related to the establishment of health centers, Al-Hasnawi explained that "this year we introduced 27 main health centers, 16 sub-centers and quite a few health houses, and we also converted the system of 45 health centers to the family medicine system, and we introduced 64 popular clinics to service, and we introduced two new pharmacies to service, and there are a large number of devices that have been installed."

"In the coming year 2024, the Ministry of Health will achieve more with the efforts of the ministry's employees and the cooperation of all, in addition to the cooperation of the supporting ministries and the role of positive media, all of which have combined efforts to serve the citizen," he said.

He pointed out that "the diagnosis of negatives by the media to deliver a message to officials in the ministry is one of the important factors for evaluating work," calling on "the media to be accurate in reporting the facts, because they are reform steps."

Mot:  .... Clever - if It works!!!!! 

Mot:  .. Really! - It's that simple

Goldilocks' Comments and Global Economic News Tuesday Evening 11-7-23

Goldilocks' Comments and Global Economic News Tuesday Evening 11-7-23

Good evening Dinar Recaps,

The Central Bank of Iraq decided to resume the sale of gold bullion and coins, starting Wednesday, November 8, 2023, via an “electronic platform.”

The Central Bank of Iraq confirmed that government and private banks can apply to buy gold bullion and coins via (an electronic platform designated for this purpose), indicating that their sale will be in accordance with the instructions and controls issued by the Central Bank of Iraq.
 
Central Bank of Iraq   Information Office   https://cbi.iq/news/view/2463

~~~~~~~~~~

BREAKING NEWS

CHINA ADDED TO ITS GOLD HOLDINGS FOR THE 12TH STRAIGHT MONTH IN OCTOBER

THE CENTRAL BANK ADDED ABOUT 23 TONS

China has gold fever.

Read: https://x.com/goldtelegraph_/status/1721817507349364886?s=46

~~~~~~~~~~

"Inter-Agency Working Group Releases New Report on Treasury Market Resilience Efforts"

Several mechanisms have just recently been changed to support the markets going into 2024 that allow the flow of money to move with more efficiency and profitability.

* Implement a Treasury buyback program

* More transparency on the secondary Market

* More information in the repo Market

* More clarity in reporting requirements

* Expand cross-margining efforts between central counterparties that clear cash and derivative transactions related to Treasury securities

Basically, we are witnessing restrictions made on to the Old Market being released to New Market modalities such as the use of local currencies around the world used as collateral.

More flexibility in BuyBacks giving investors quicker returns on their profit margins. 

And more...

The new digital trading economy is allowing these changes to take place to even the playing field for Professional and Retail investors.

© Goldilocks

https://www.cftc.gov/PressRoom/PressReleases/8820-23

~~~~~~~~~~

Following the launch of BRICSPAY, the BRICS system has been exploring the expansion of the Digital Yuan.

Currently, the movement towards leveling the playing field between the East and the West through the digital Yuan is underway.

Below, you will find a legislative bill link regarding proposed legislative changes to the world's reserved status.

© Goldilocks

https://watcher.guru/news/brics-china-exploring-cross-border-use-of-digital-yuan

https://www.congress.gov/bill/118th-congress/house-bill/556

CoinDesk Link

~~~~~~~~~~

READOUT: Financial Stability Oversight Council Meeting on November 3, 2023

U.S. Department of the Treasury Link

~~~~~~~~~~

BRICS nations see massive surge in global transactions
https://www.cryptopolitan.com/brics-massive-surge-in-global-transactions/

~~~~~~~~~~

(Bloomberg) -- "Oil edged up after Saudi Arabia and Russia reaffirmed they will stick with oil supply curbs of more than 1 million barrels a day through the end of the year."

Saudi Arabia and Russia have recommitted themselves to extending oil supply curbs until the end of the year.

This will hold the price of oil to a higher level and not allow it to depreciate in the coming months as consumer spending wanes.

© Goldilocks

https://finance.yahoo.com/news/oil-edges-higher-saudis-russian-234810693.html

~~~~~~~~~~

BRICS Trade Surges Ahead Of Enlargement: Report    Iran Front Page Link

~~~~~~~~~~

HOTTEL: World's First Fully Tokenized Asset-Backed Investment Coin Successfully Launched
https://comtex.com/?p=442893944

~~~~~~~~~~

House-passed bill includes Boebert measures blocking BLM oil, gas reforms, local leasing plans 

GJSentinel Link

~~~~~~~~~~

UPDATE from Goldilocks:

The Oil Market is still in economic reforms.

Gold is being added as an economic form of payment on electronic platforms.

We still have electronic currency reforms in development.

And,  Banks are adjusting their Capital requirements to synchronize transactions between them and the markets.

We have never seen this much activity at the same time.

We are clearly inside a Global Currency Reset.

We are clearly still in process, but the final phases of these changes are within sight.

© Goldilocks

~~~~~~~~~~

BREAKING NEWS

CHINA WILL TIGHTEN RARE EARTH EXPORT CONTROLS, REQUIRING EXPORTERS TO REPORT RARE-EARTH TYPES AND THEIR EXPORT DESTINATIONS

Commodities…   Read: https://x.com/goldtelegraph_/status/1721936408691261668?s=46

~~~~~~~~~~

"They Are Doing It Right In Front Of You!" Don't Miss Out! It's Happening! (Breaking Crypto News!)

https://youtu.be/V1gqr2zW100?feature=shared

~~~~~~~~~~

SHOCKING Reveal! The Rise of AI in Modern Warfare 🚀

https://youtube.com/shorts/9okUewjzm9w?feature=shared

~~~~~~~~~~

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Thank you  Dinar Recaps    www.DinarRecaps.com

Iraq Economic News and Points to Ponder Tuesday Afternoon 11-7-23

Iraq Economic News and Points to Ponder Tuesday Afternoon 11-7-23

Tlm724 Administrator Bondlady’s Corner

An American Official From Erbil: Passing The Oil And Gas Law Is A Priority For Washington

Political | 04:45 - 07/11/2023 Mawazine News – Baghdad  The new US consul in Erbil, Mark Straw, confirmed on Tuesday that addressing the revenue problem and passing the oil and gas law will be Washington’s priorities and agenda in Kurdistan.

A statement from the Ministry of Natural Resources, the regional government, said, “The Acting Minister of Electricity and Natural Resources, Kamal Muhammad Salih, received today the American Consul General in the Kurdistan Region, Mark Straw.”

The statement added, "The Minister of Electricity and Natural Resources thanked the United States of America for its role in resuming oil exports to the Kurdistan region, following up on solving oil and gas problems, expanding investment, and approving the federal oil and gas law with the Kurdistan region."

In turn, the American Consul confirmed, “We are closely following the process of resuming oil exports and we know that the suspension of oil has had a negative impact on revenues and citizens, and that addressing the revenue problem and passing the oil and gas law will be among the priorities of Washington’s policy and agenda.”

He expressed his "happiness with investing in the electricity, energy and oil sectors."

https://www.mawazin.net/Details.aspx?jimare=237428

A Crazy Rise In Dollar Exchange Rates In Iraq

Political | 10:39 - 07/11/2023  Baghdad - Mawazine News  The exchange rate of the dollar rose again today, Tuesday, against the Iraqi dinar in local markets.  Below are the dollar exchange rates in local markets this morning:

_ Selling price: 167,000 dinars per 100 dollars

_ Purchasing price: 165,000 dinars per 100 dollars

https://www.mawazin.net/Details.aspx?jimare=237409

The Iraqi Central Bank Resumes The Sale Of Gold Bullion And Coins Via An Electronic Platform

Economy | 10:57 - 07/11/2023  Baghdad - Mawazine News  The Central Bank of Iraq decided, today, Tuesday, to resume the sale of gold bullion and coins via an electronic platform.

A statement from the Central Bank, received by Mawazine News, stated that it “decided to sell gold bullion and coins via an electronic platform, starting tomorrow, Wednesday.”

He pointed out, “Governmental and private banks can apply to buy gold bullion and coins via (an electronic platform designated for this purpose),” indicating that “their sale will be in accordance with the instructions and controls issued by the Central Bank of Iraq.” Ended

https://www.mawazin.net/Details.aspx?jimare=237411

Integrity: We Will Pursue Money Laundering Crimes With Modern Technologies And Digitalization

Iraq   Tuesday, November 7, 2023 Baghdad/National News Center  Today, Tuesday, the Federal Integrity Commission confirmed its intention to prosecute crimes of illicit gain and money laundering using modern technologies and digitalization.

Integrity stated in a statement received by the National News Centre, that “The Chairman of the Authority, Judge Haider Hanoun, stressed in his speech at the launch ceremony of the (Laser Fiche) system, which was attended by the representative and advisor to the Prime Minister (Moayad Al-Saadi), the importance of benefiting from technological development and the information revolution.” ;

With the aim of digital transformation and electronic governance for its role in combating corruption, saving effort, speeding up work, reducing costs, and achieving administrative integrity and transparency in all state institutions.”

Judge Hanoun stressed “the importance of all state institutions shifting to automating their procedures and moving towards electronic governance,” pointing out that “this will prevent auditors from coming into contact with employees and reduce the chances of blackmailing them or demanding bribes from them in exchange for facilitating the completion of their transactions.”

He praised “the great and fruitful cooperation between the Authority and the United Nations Development Program (UNDP) in various fields, especially in the field of transition to digitization and achieving electronic governance,” noting that “the launch of the enterprise management system (Laser fiche) comes within a series of milestones.” Cooperation in this field.”

He pointed out, “The two parties cooperated in launching a project to establish a digital forensic laboratory (DFL), which seeks to support the Federal Integrity Commission in benefiting from the digital revolution and information technology in investigating corruption cases and prosecuting its perpetrators, and making it capable of tracking smuggled funds.

As a result of corruption crimes, it enhances its ability to detect corruption, fraud, and money laundering, investigate those crimes, and deter their perpetrators.”

Hanoun appreciated, “The efforts made by the Vice President of the Authority and the General Director of the Academy (Mazhar Turki Abd), its technical staff, and the rest of its employees in their seriousness and perseverance. In order to reach the start of automating all the academy’s procedures,”

he stressed that “this experiment, which he hopes will be successful, will be circulated among the rest of the authority’s departments and benefit from it in overcoming some of the obstacles that it may encounter,” while he explained that “the authority’s law allows it to carry out any work that contributes to combating Corruption or the prevention of it,

and also granting it the authority to use the means of scientific advancement, devices and machines for investigation, investigation, and evidence gathering, and to provide the requirements and requirements for their use in the field of detecting corruption crimes, preventing them, or prosecuting their perpetrators.”   https://nnciraq.com/235812/

Iraq And America Discuss Common Legal Issues

Political | 11:28 - 07/11/2023   Baghdad - Mawazine News  The President of the Supreme Judicial Council, Faiq Zaidan, discussed with the US Ambassador to Iraq, today, Tuesday, the common legal issues between the two countries.

A statement of the Supreme Judicial Council received by Mawazine News stated, “The President of the Supreme Judicial Council, Faiq Zaidan, received today the United States Ambassador to Iraq, Elena Romanowski.”

The statement added, "The meeting discussed a number of common legal issues between the two countries." Ended    https://www.mawazin.net/Details.aspx?jimare=237414

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

https://www.bondladyscorner.com/

Provoking Points to Ponder on Character:

Character building begins in our infancy and continues until  death --Mrs Franklin D Roosevelt

A tree will not only lie as it falls, but it will fall as it leans -- J J Gurney

Let us not say, Every man  is the architect of his own fortune; but let us say, every man is the architect of his own character -- G D Boardman

Talents are best nurtured in solitude; character is best formed in the stormy billows of the world -- Johann Wolfgang von  Goethe

It is not what a man gets, but what a man is, that he should think of - He should think first of his character, and then of his condition: for if we have the former, he need have no fears about the latter - Character will draw condition after it -- Circumstances obey principles -- H W Beecher

It is not money, nor is it mere intellect, that governs the world; it is moral character, and intellect associated with moral excellence -- T D Woolsey

To be worth anything, character must be capable of standing firm upon its feet in the world of daily work, temptation, and trial; and able to bear the wear and tear of actual life -- Cloistered virtues do not count for much -- Samuel Smiles

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

"Tidbits From TNT" Tuesday 11-7-2023

TNT:

Tishwash:  Through travelers... new controls for declaring funds leaving and entering Iraq 

On Tuesday, the Anti-Money Laundering and Counter-Terrorism Financing Office issued a new decision regarding money and currencies carried by travelers.

The office stated in a statement received by Al-Iqtisad News, “Based on the provisions of the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015 related to obligating every person upon entering or leaving Iraq to declare, upon request from a representative of the General Authority of Customs, the money, currencies, or tools he carries.” Money that is negotiable to the bearer or transferred inside or outside Iraq through a person, postal service, shipping service, or by any other means.

He added, "The measure comes to reduce the risks of bringing money in and out across the Iraqi border and exploiting that for money laundering or terrorist financing operations."  link

Tishwash:  An economic expert details the reasons for the rise in the dollar: What is happening in Iraq is organized smuggling

Economist Nabil Al-Marsoumi detailed on Tuesday the reasons for the rise in dollar prices, while noting that what is happening in Iraq is organized smuggling of the dollar.

Al-Marsoumi told Earth News Agency, “What is happening in Iraq is not speculation with the black dollar in the parallel market, but rather what is happening on the ground is an organized smuggling operation of travelers’ dollars or cash dollars for two basic reasons.”

Al-Marsoumi added, “The first reason lies in the fact that some of the goods imported from abroad that are not included in the electronic platform, including gold, drugs, alcoholic beverages, and cigarettes, some of which have a very large value, that is, no less than a quarter of a billion dollars annually, on the one hand.”

He added, “On the other hand, there is a strong demand for the dollar in the parallel market because of the need for it in order to settle commercial initiatives or Iraq’s imports of Iranian goods, which amount to 10 billion dollars annually due to the sanctions imposed on it, which prevent the settlement of commercial transactions with bank transfers.”

He pointed out that there is “a large segment of travelers who intend to travel to countries sanctioned by America. These people do not obtain the dollar at the official price, but rather from the parallel market, which has led to a widening of the gap between the parallel and official prices in the Iraqi market.”  link

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

CandyKisses:  The Central Bank of Iraq resumes the sale of gold bullion and coins through an electronic platform

 Shafaq News / The Central Bank of Iraq decided, as of Wednesday, to resume the sale of gold bullion and coins through an "electronic platform".

The Central Bank of Iraq confirmed in a statement that government and private banks can apply to buy gold bullion and coins through (an electronic platform dedicated to this purpose), noting that their sale will be in accordance with the instructions and controls issued by the Central Bank of Iraq.

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

Tishwash:  Rafidain Bank requires retirees to receive salaries electronically

On Monday, Rafidain Bank announced the obligation of retirees to receive salaries via electronic card, and called on those who receive their salaries manually to issue them as soon as possible.

A statement from the bank said that the directive is part of “commitment to government directives in simplifying procedures and adopting electronic payment systems in distributing salaries .”

The bank called on retirees who receive their salaries manually to “review the nearest issuance center in the bank’s branches in Baghdad and the governorates, with the required official documents, for the purpose of issuing and activating the electronic card in order to receive the retirement salary.”  link

The bank confirmed that it had issued a directive to “its branches to oblige retirees who receive their monthly salaries manually, and to inform them of expediting the completion of the issuance of the electronic card and receiving it for free.”

Mot: ............ Encounters with my dog

Mot: .... oooooh Yea... Kids at Practice!!! Siiggghhhhhh 

Iraqi News Highlights and Points to Ponder Tuesday AM 11-7-23

Iraqi News Highlights and Points to Ponder Tuesday AM 11-7-23

An Economic Expert Details The Reasons For The Rise In The Dollar: What Is Happening In Iraq Is Organized Smuggling

Posted On2023-11-07 By Sotaliraq   On Tuesday, economic expert Nabil Al-Marsoumi detailed the reasons for the rise in dollar prices, while pointing out that what is happening in Iraq is organized smuggling of the dollar.

Al-Marsoumi stated, “What is happening in Iraq is not speculation in the black dollar in the parallel market, but rather what is happening on the ground is an organized smuggling operation of the traveler’s dollar or the cash dollar for two basic reasons.”

Al-Marsoumi added, “The first reason lies in the fact that some goods imported from abroad that are not included in the electronic platform, including gold, drugs, alcoholic beverages, and cigarettes, some of which have a very large value, that is, no less than a quarter of a billion dollars annually, on the one hand.”

He added, “On the other hand, there is a strong demand for the dollar in the parallel market because of the need for it in order to settle commercial initiatives or Iraq’s imports of Iranian goods, which amount to 10 billion dollars annually due to the sanctions imposed on it, which prevent the settlement of commercial transactions with bank transfers.”

He pointed out that there is “a large segment of travelers who intend to travel to countries sanctioned by America. These people do not obtain the dollar at the official price, but rather from the parallel market, which has led to a widening of the gap between the parallel and official prices in the Iraqi market.” LINK

Determine 3 Points To End Dependence On The Dollar In Iraq

 Information / Baghdad...   Representative Hussein Habib, on Tuesday, identified three basic points to end reliance on banking transactions in dollars within Iraqi markets.

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

Habib said in an interview with Al-Maalouma, “There are many solutions to end the file of the rise in the dollar exchange rate in the country’s parallel markets, which has a direct impact on prices, especially with the presence of speculators, whales, and influential networks that benefit from any crisis in reaping profits through their control of the dollar file.” ".

He added, "There are 3 important horizons for ending the dollarization of markets in Iraq, the most prominent of which is identifying the segments entitled to deal in dollars, stressing the shift to dealing in dinars at home, and pushing the authorities to increase their participation in the file of providing basic materials, such as food, medicines, and other materials, and putting them in Iraqi dinars in the markets, in addition to... Reopening factories in order to reduce the rate of imports and thus reduce the export of dollars abroad.”

He pointed out that "there are external factors affecting the dollar file, especially by Washington, but reducing imports and relying on national production is the most important factor in reducing demand for the dollar and relying on the national currency in all internal exchanges."

The exchange rate of the dollar in the parallel market witnessed an increase in recent weeks and broke the barrier of 168 thousand dinars for every 100 dollars.    LINK

A Parliamentary Accusation Against The Presidency Of Parliament Regarding Ignoring The Dollar Crisis And Hosting The Sudanese

Information / Baghdad..   Independent MP Hadi Al-Salami, on Tuesday, accused the Parliament Presidency of ignoring MPs’ calls to host the Prime Minister and the Central Bank Governor to discuss the dollar crisis.

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

Al-Salami said in an interview with the Maalouma Agency, “The Presidency of Parliament did not deal with the issue of the dollar exchange rate,” pointing out that “there are continuous follow-ups by members of the House of Representatives regarding the real and parallel exchange rates.”

He added, "The dollar crisis is still casting a shadow over the economic scene in light of warnings about the decline in the value of the Iraqi dinar."

He pointed out that "the dollar is continuing to gradually increase and it is possible that it will exceed 170 thousand dinars in the absence of new deliberate steps to control this matter."

Al-Salami pointed out, “The Presidency of Parliament ignored our calls to host the Prime Minister and the Governor of the Central Bank to discuss the dollar crisis.”

Independent MP Basem Ngheimesh Al-Gharibawi had confirmed that the Presidency of Parliament had not responded to demands to hold an investment session to discuss the dollar crisis and its instability in the markets. Ended / 25 h   LINK

Increase In Currency Auction Transfers From The Dollar Outside Iraq

Economical  11/07/2023   Baghdad: Morning:  Foreign remittances rose at the Central Bank of Iraq auction, yesterday, Monday, by 86 percent at the expense of cash sales, to reach $199 million.

During its auction for buying and selling the US dollar, the Central Bank sold 227 million 447 thousand and 755 dollars, which the bank covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, and at 1,310 dinars per dollar for external transfers, and at the same price in cash.

Most of the bank's dollar sales went to strengthen balances abroad in the form of (remittances, credits), which amounted to 199 million 757 thousand and 755 dollars, an increase of 86 percent, compared to cash sales amounting to 27 million 690 thousand dollars.

The number of banks that purchased cash dollars reached 4 banks, while the number of banks that responded to requests to enhance balances abroad reached 22 banks, while the total number of exchange and brokerage companies participating in the auction was 48 companies.

https://alsabaah.iq/86829-.html

Cash Sales Amounted To 37 Million.. Foreign Remittances Increased By 81% In The Iraqi Central Auction

2023-11-07 Shafaq News/ External remittances increased at the Central Bank of Iraq auction today, Tuesday, by 81% at the expense of cash sales, to reach 195 million dollars.

Shafaq News Agency correspondent said, “Today, during its auction for buying and selling the US dollar, the Central Bank sold 233 million, 689,796 dollars, which the bank covered at a base exchange rate of 1,305 dinars, per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for remittances.” Foreign Affairs, at a price of 1,310 dinars per dollar in cash.

Our correspondent added, “Most of the bank’s dollar sales went to strengthen balances abroad in the form of (remittances, credits), which amounted to 195 million, 939,796 dollars, an increase of 81%, compared to cash sales of 37 million, 750 thousand dollars.”

Our correspondent pointed out that the number of banks that purchased cash dollars reached 9 banks, while the number of banks that responded to requests to enhance balances abroad reached 19 banks, while the total number of exchange and brokerage companies participating in the auction was 132 companies.   LINK

The Exported Monetary Mass Increased To 102 Trillion Dinars

Money  and business    The monetary mass exported rose to 102.1 trillion dinars, an increase of more than 2 trillion dinars during the month of October.

According to the statistical website of the Central Bank of Iraq, the currency issued in October amounted to 102.1 trillion dinars, while last September it was 100 trillion dinars.

As of last September, 91.8 trillion dinars are outside the banking sector and stored in homes.

The Ministry of Finance is suffering from its inability to obtain the dinar currency to launch the investment budget, but is currently content with paying employee salaries and some other needs.

 The Ministry of Finance sells the dollar to the Central Bank of Iraq, and the latter sells it through the dollar platform to banks for the purpose of financing foreign trade.

Views 29 11/07/2023 - https://economy-news.net/content.php?id=37337

Provoking Points to Ponder on COURAGE:

  To see what is right and not do it, is want of courage -- Confucius

If we survive danger it steels our courage more than anything else -- Niebulur

Physical courage which despises all danger, will make a man brave in one way -- Moral courage, which despises all opinion -- will make a man brave in another -- The former would seem most necessary for the camp; the latter for the council; but to constitute a great man -- BOTH ARE NECESSARY -- Colton

Courage consists not in blindly overlooking danger; but in seeing and conquering it --Richter

True courage is not the brutal force of vulgar heroes, but the firm resolve of virtue and reason -- Whitehead

MilitiaMan and Crew: Iraq International Progress 11-6-2023

Iraq International Progress

MilitiaMan and Crew:  11-6-2023

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=dmnpJELJXTs