Goldilocks' Comments and Global Economic News Thursday Evening 11-16-23

Goldilocks' Comments and Global Economic News Thursday Evening 11-16-23

Good Evening Dinar Recaps,

"FDIC Chairman Martin Gruenberg said today that proposed interagency rulemaking to implement incentive pay requirements in the Dodd-Frank Act likely won’t happen before the end of the year."

The Dodd-Frank Act protects retail investors in foreign currency exchanges. Section 956 restricts those making exchanges with retail investors' money from creating excessive risks on the money you place inside a bank. This new rule has been pushed up to early next year for implementation.

© Goldilocks 
BankingJournal Link
SEC Link
Thomson Reuters Link

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Iraqi Prime Minister, Mohammed Shia al-Sudani, led a meeting on Tuesday to monitor the progress of banking reforms.   Iraq Business News Link

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Iraq has become the latest member of the European Bank for Reconstruction and Development (EBRD).

The bank recently approved amendments to its statutes to enable the limited and incremental expansion of its operations to Iraq.   Iraq Business News Link

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Continuing Jobless Claims continue to rise..Ira’s Morning Flash Video for 11 16 2023

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

 👆 Goldilocks pointed to this video

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Introducing the LC Labs Artificial Intelligence Planning Framework | The Signal
https://blogs.loc.gov/thesignal/2023/11/introducing-the-lc-labs-artificial-intelligence-planning-framework/

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Proof of Concept Under MAS’ ‘Project Guardian’ Explores Using DeFi Tools To Efficiently Administer Alternative Assets

Amid the ongoing crypto rally, major financial institutions continue to explore how blockchain technology can make their operations more efficient.

JP Morgan's Onyx digital assets unit and $500B asset manager Apollo Global have joined forces with the Monetary Authority of Singapore for a proof-of-concept demonstrating how tokenization can streamline and automate portfolio management. The PoC aims to address the historical challenges of trading and administering alternative assets, often seen as operationally intensive and cumbersome to manage within traditional portfolios.

“By leveraging the power of blockchain technology, we have shown how the construction and management of discretionary portfolios could be revolutionized,” said Tyrone Lobban, Head of Onyx Digital Assets, which currently processes billions of dollars in trades on a daily basis. TheDefiant Link

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IQM Partners with NVIDIA for Hybrid Quantum Applications
https://analyticsindiamag.com/iqm-partners-with-nvidia-for-hybrid-quantum-applications/

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Iraqi PM Orders Reform of Banking Sector 

 Where do we currently stand?

Iraq is still working on their banking reforms.

Presently, they are expanding their banking capacities into Europe on a limited basis.

And, we already know that they are going to work with India on going International in trade utilizing only the Iraqi dinar at the first of the year.

© Goldilocks
Iraq Business News Link 1
Iraq Business News Link 2

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🚨STELLAR XLM🚨100 PROJECTS COMING, THIS IS HUGE🚨XRP & XLM, YOU WON'T BELIEVE THIS

https://youtu.be/Zuykcg1c_3A?feature=shared

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Top 10 Artificial Intelligence (AI) Cryptocurrencies – Forbes Advisor UK  Forbes Link

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ALERT! Here We Go!! Silver Breaks ABOVE Moving Averages & Eyes $30..Then $50..Then...$??! (Bix Weir)   https://www.youtube.com/watch?v=Txj18xCRWIc

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Is the Goldilocks Forecast Too Good to be True? With Cem Karsan

https://www.youtube.com/live/oIyULC1UHBw?feature=shared 

 👆 Goldilocks pointed to this video

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💥MY TOP 5 ISO CRYPTO PICKS AND WHY💥XRP XDC XLM & MORE💥ONLY A FEW DAYS LEFT TO ISO 20022

https://youtu.be/A6habMd8oHQ?feature=shared

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BRICS: Iraq to Ditch US Dollar for Imported Goods

https://watcher.guru/news/brics-iraq-ditch-us-dollar-imported-goods-use-local-currency

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👆Import only. Export and import of only the dinar begins January 1st 2024. It is their export use of their dinar that will make them International using their dinar only.
This is not new news. We already knew they were only using the Iraqi dinar in country for over a month now.

@Goldilocks

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A Global Perspective on Digital Asset Innovation ft. Tajinder Singh, Deputy Secretary General-IOSCO

https://youtu.be/M1UkV59S8yo?feature=shared

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De-dollarization Has Already Started, Says Russia’s Foreign Minister Lavrov – Bitcoin News
Bitcoin Link

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Stellar Protocol 20 Upgrade Unleashes the Power of Soroban CryptoNewsFlash Link

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Moscow and Caracas are making progress towards de-dollarization and hope to switch to national currencies in trade soon, Venezuelan Foreign Minister Yvan Gil Pinto announced on Thursday.

https://www.rt.com/business/587408-russia-venezuela-confirm-dedollarization-plans/

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Iraq Economic News and Points to Ponder Thursday Evening 11-16-23

Iraq Economic News and Points to Ponder Thursday Evening 11-16-23

Tlm724 Administrator Bondlady’s Corner

Launching The Electronic Deposit System For Fuel Filling Station Owners

 Economy| 10:20 - 11/16/2023  Baghdad - Mawazine News  Al-Rafidain Bank announced, today, Thursday, the launch of the system of depositing amounts for owners of fuel filling stations via electronic card.  The bank’s media said, in a statement, that “a system for depositing amounts for fuel filling station owners via electronic cards has been launched.”

 https://www.mawazin.net/Details.aspx?jimare=237976

Parliamentary Finance For / Nina /: These Are The Results Of The Meeting With Government Bank Officials

 Thursday 16, November 2023 18:45 | Economical     Number of readings: 471 Baghdad / NINA / The Parliamentary Finance Committee revealed the results of the joint meeting with officials and directors of the five government banks, “Al-Rafidain, Al-Rashid, Agricultural, Industrial, and Real Estate.”

 The head of the committee, MP Atwan Al-Atwani, said in a statement to the National Iraqi News Agency ( NINA ), that

 “the joint meeting with government bank departments is related to a set of activities to advance their work and match them with the government program, given that supporting and enabling the work of the banking sector is a pivotal focus for the government.” 

He explained,  "The main pillar of the meeting is related to the transition from the paper system to the electronic system within a specific time frame to frame this, as

 we found some banks achieved certain completion rates through contracting with specialized companies, and there are other banks that are still under contract." 

He added,  "We discussed the files of the industrial initiative, the agricultural initiative, and the housing initiative, which are strategic initiatives that support the banks and sectors concerned, because the government is responsible for employment in the country, and

 there is a necessity to support these initiatives to create and provide projects and job opportunities," indicating that  "the Finance Committee stressed to government banks the necessity of commitment."

 “Yesterday, Wednesday, the Parliamentary Finance Committee held a joint meeting with the directors of the government banks, Al-Rafidain, Al-Rasheed, Industrial, Agricultural, and Real Estate,” to discuss the banks’ procedures for managing the currency platform and the shift to automation. Digital, and facilitating tax procedures.   https://ninanews.com/Website/News/Details?key=1090298

The European Bank “EBRD” Welcomes Iraq’s Membership

Thursday, November 16, 2023 4:15 PM  Follow-up/National News Center  The European Bank for Reconstruction and Development (EBRD) announced that Iraq had joined it, becoming the 74th country contributing to the bank after Baghdad had applied for membership in April 2018.

The European Bank stated in a report on its website, “Iraq has become the newest member of the bank, after the Board of Governors approved its membership in October 2020, while the process of transitioning to shareholder status in the bank has now ended.”

The bank explained that “Iraq, as a shareholder, can apply to become a recipient economy category, and can thus benefit from the financial and political support provided by the European Bank for Reconstruction and Development,” noting that this application will be reviewed by the shareholders in a separate process.

 The report stated that during the bank’s annual meeting this year in the city of Samarkand, the Board of Governors agreed to amend the agreement establishing the bank to allow the expansion of the bank’s operations in Iraq, adding that once the amendment enters into force, the bank will be in a position to follow up on any request from Iraq to become an active country. The bank is in it.

 The report pointed out that the decision of the Board of Governors in Samarkand also means integrating Iraq into the bank's southern and eastern Mediterranean region, with which Iraq has strong economic relations.

 The report quoted the bank’s president, Odile Renaud Basso, as saying, “I am pleased to welcome Iraq as a member of the bank, and we are fully committed to dealing with the country, and when the time comes, we look forward to starting work in Iraq, and applying our expertise in order to develop its economy.”

The bank's report pointed out that its activity in the southern and eastern Mediterranean region began for the first time in 2012, specifically in Egypt, Jordan, Morocco, and Tunisia, and then in 2017, its activities extended to Lebanon, the West Bank, and the Gaza Strip in Palestine.

 The report concluded by noting that the European Bank provides support to countries undergoing transitional stages, through a combination of investment, advisory role and policy reform, in addition to the Bank’s focus on developing the private sector and achieving sustainable change for a better future.

He added that the bank is currently focusing its efforts on supporting Ukraine, and helping the economies of member states transform into a more environmentally friendly, digital and inclusive manner.    https://nnciraq.com/237111/

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

https://www.bondladyscorner.com/

 Provoking Points to Ponder on FEAR for Living the Bold Life by Tess Marshall

64. Surely if we knew what bitterness fate held in store, we would shrink back in fear and let the cup of life pass us by untasted. ~ Jacqueline Carey

65. I don’t run away from a challenge because I am afraid. Instead, I run towards it because the only way to escape fear is to trample it beneath your foot. ~ Nadia Comaneci

66. Of all the liars in the world, sometimes the worst are our own fears. ~ Rudyard Kipling

67. Mastering others is strength. Mastering oneself makes you fearless. ~ Lao Tzu

68. When we are unhurried and wise, we perceive that only great and worthy things have any permanent and absolute existence, that petty fears and petty pleasures are but the shadow of the reality. ~ Henry David Thoreau

69. When you teach them-teach them not to fear. Fear is good in small amounts, but when it is a constant, pounding companion, it cuts away at who you are and makes it hard to do what you know is right. ~ Christopher Paolini

70. We are so scared of being judged that we look for every excuse to procrastinate. ~ Erica Jong

Iraq Economic News and Points to Ponder Thursday Afternoon 11-16-23

Iraq Economic News and Points to Ponder Thursday Afternoon 11-16-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Of Iraq Agrees To Import The Dollar To Meet The Needs Of Citizens

 November 15, 2023 Last updated: November 15, 2023   Al-Independent/- A government source revealed, today, Wednesday, that the Central Bank of Iraq issued official approvals to three Iraqi private banks to import the US dollar to meet the needs of citizens, confirming that one of the banks’ shipments had actually arrived in Iraq.

 This decision comes within the framework of the efforts made by the Central Bank of Iraq to enhance the stability of the Iraqi dinar exchange rate, and to provide the dollar in sufficient quantities to meet the needs of the local market.

 According to the source, the private banks that obtained approvals are:

 National Bank of Iraq   Ahli United Bank  Trade Bank of Iraq (TBI)  The source explained that these banks will import the US dollar through the electronic money transfer platform recently launched by the Central Bank of Iraq, with the aim of ensuring transparency and preventing currency speculation.

According to the source, there are applications from other banks that are on their way to be submitted for decision by the Central Bank of Iraq.

 The source confirmed that the Trade Bank of Iraq (TBI) is currently holding important discussions with several international companies to transfer amounts amounting to $120 million, and

 they are on their way to completion within the next few days.

 The source expected that this decision would stabilize the exchange rate of the Iraqi dinar, and provide the dollar in sufficient quantities to meet the needs of the local market.

 The impact of the decision on the Iraqi economy

 It is expected that this decision will have a positive impact on the Iraqi economy, as

it will stabilize the exchange rate of the Iraqi dinar, and

provide the dollar in sufficient quantities to meet the needs of the local market.

 According to the economic expert, Dr. Ahmed Ismail, this decision will contribute to reducing the demand for the dollar in the local market, and thus reducing the exchange rate of the Iraqi dinar against the dollar.

 This decision will also provide the dollar in sufficient quantities to meet the needs of companies and investors, which will contribute to increasing foreign investments in Iraq.

 In general, this decision is an important step by the Central Bank of Iraq to enhance the stability of the Iraqi economy.   https://mustaqila.com/البنك-المركزي-العراقي-يوافق-على-استير/

Adviser To The Prime Minister: Iraq's Foreign Currency Reserves Are The Largest In Its History

 Dollar   Money  and business  Economy News – Baghdad   The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that the government worked in two directions to defend economic stability, while noting that the country’s foreign currency reserves are the largest in Iraq’s financial history, and the package to address exchange rates aims to prevent profiteering at the expense of economic stability.

Saleh said, to an official agency followed by “Al-Iqtisad News,” that  “the country’s foreign currency reserve is the largest in Iraq’s financial history and exceeds 100 billion dollars, as it constitutes Iraq’s central reserve portfolio,” indicating that

 “market demand to finance external exchanges for the private sector is done through... These are the official reserves that the Monetary Authority displays through its platform at the official exchange rate of 1,320 dinars per dollar. 

He added,  "The high commercial efficiency of the country's foreign currency reserves has its highest standard indicators for a period of more than (fifteen commercial months), while the global standard is about (three months)." 

He added,  "At a time when the demand for foreign currency is financed through the Central Bank of Iraq platform and bank balances are enhanced in various foreign currencies to finance private sector foreign trade, which constitutes 85% or more of the actual need of the demand for external transfer and in accordance with governance rules and standards."

 Globally,  despite this, there is a demand for the cash dollar to finance commercial operations of very specific commodities that do not exceed five commodities, and

 forces from within the market are trying to purchase them from outside the official commercial mechanisms by resorting to obtaining the cash dollar from the parallel market (which is the market that does not It constitutes only 10% of the demand for foreign currency allocated for travel outside the country to finance its informal trade. 

He continued,  "These are commercial actions that are not legally recognized by the financial, commercial and banking departments and are carried out for many reasons, including tax or customs evasion or evasion of inspection and quality control procedures." 

He pointed out that  "the economic policy in general and the monetary policy in particular have all the economic capabilities to control the noise of the parallel market, which is represented by combating illegal commercial activities above all, as

 the state currently undertakes the policy of defending economic stability, especially in providing sufficient commodity supply for the goods that... It affects the life of the citizen directly, at moderate prices, financed at an exchange rate of 1,320 dinars per dollar on a permanent basis, and in two directions.

The first: providing additional supportive food and medicine baskets, construction baskets, and high-demand spare parts, and selling them at the official stable exchange rate through the cooperation mechanism between the commercial arm of the state and the national private sector, and

the second: The monetary authority has adopted new mechanisms by providing liquid foreign currencies in addition to the dollar currency (and from a basket of various foreign currencies) to meet travel needs according to the traveler’s destination, especially for Hajj, Umrah, and tourism in its various aspects and for various neighboring and distant countries, in addition to facilitating the use of payment cards with very high flexibility.” 

He pointed out that  "the policy package aims to contain the noise made by foreign currency speculators in the parallel market in order to profit at the expense of economic stability," noting that

 "the basic trends in economic policy are currently being implemented by isolating the effects of the parallel or black market and limiting its illegal activities from stability." The overall price system in the country.    112 views  11/15/2023 - https://economy-news.net/content.php?id=37558

Central Bank: Enhancing The Accounts Of 13 Banks In The Chinese Yuan

 Central Bank of Iraq  Drains  Economy News – Baghdad   An authorized source in the Central Bank of Iraq revealed, on Wednesday, the strengthening of the accounts of 13 banks in the Chinese yuan, calling on merchants and importers to secure their imports through official roads.

 The source said in a statement reported by the official news agency, and seen by Al-Eqtisad News, that

 “the number of banks whose accounts were strengthened in the Chinese currency, the yuan, reached (13) banks, suggesting that

 “the number of banks that will strengthen their balance in the Chinese currency will increase in the near future.”  He added,

  “Merchants and importers can import their goods from China at the official price that will be provided by banks dealing in the Chinese currency instead of resorting to the black market and speculators.”

 Views 66     11/15/2023 - https://economy-news.net/content.php?id=37576

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

https://www.bondladyscorner.com/

 Provoking Points to Ponder on FEAR for Living the Bold Life by Tess Marshall

56. We cannot love when we feel fear…When we release the fearful past and forgive everyone, we will experience total love and oneness with all. ~ Gerald Jampolsky

57. Life can take so many twists and turns. You can’t ever count yourself out. Even if you’re really afraid at some point, you can’t think that there’s no room for you to grow and do something good with your life. ~ Portia de Rossi

58. Never worry alone. When anxiety grabs my mind, it is self-perpetuating. Worrisome thoughts reproduce faster than rabbits, so one of the most powerful ways to stop the spiral of worry is simply to disclose my worry to a friend…The simple act of reassurance from another human being [becomes] a tool of the Spirit to cast out fear — because peace and fear are both contagious. ~ John Ortberg

59. I’m terrified of getting involved with someone who disappoints me or leaves me empty and alone. I’m terrified of rejection, so I set my expectations so high that they can never be met, and I dig around with a magnifying glass looking for flaws in very person I date. There’s always a flaw to exploit, and I’ll find it so I never have to get too close. ~ Rachel Machacek

60. If a fear cannot be articulated, it can’t be conquered. ~ Stephen King

61. The human race is a monotonous affair. Most people spend the greatest part of their time working in order to live, and what little freedom remains so fills them with fear that they seek out any and every means to be rid of it. ~ Johann Wolfgang von Goethe

62. Laughter is poison to fear. ~ George R.R. Martin

63. Be fearful when others are greedy and greedy when others are fearful. ~ Warren Buffet

Iraqi News Highlights and Points to Ponder Thursday AM 11-16-23

Iraqi News Highlights and Points to Ponder Thursday AM 11-16-23

Parliament Finance Indicates The Reason For The Decline In The Exchange Rate And Talks About “A Crackdown On Smugglers”

Sweeteners |Baghdad Today - Baghdad   In recent days, local markets have witnessed a decline in the exchange rate of the dollar against the Iraqi dinar, reaching 158 thousand for every 100 dollars. The Finance Committee in the House of Representatives indicated the reasons for the decline, while revealing “control over smugglers.”

Committee member Moin Al-Kazemi said today, Thursday (November 16, 2023), that “there is security and intelligence progress in the file of identifying dollar smugglers, and during the past days a number of them have been overthrown.”

Al-Kadhimi indicated in an interview with “Baghdad Today” that “this greatly affected the decline in the dollar exchange rate in the parallel market.”

A member of the Parliamentary Finance Committee stated, “There is great economic importance to thwarting foreign currency smuggling operations,” noting that “there is government interest in this file, and the security and intelligence services have information about these parties and personalities, and work is continuing to pursue and overthrow them.”

 Yesterday, Wednesday (November 15, 2023), the National Security Service announced the arrest of the most dangerous people involved in the currency smuggling file through its management of more than one bank and financial institution.

The agency stated in a statement received by “Baghdad Today” that “in implementation of the Prime Minister’s directives to follow up on the file of currency smuggling and speculation, and in continuation of the series of specific operations and painful strikes carried out by the National Security Service against organized crime gangs that seek to sabotage the national economy, and directly harm the lives and security of citizens, After an intelligence and field effort, we announce the arrest of one of the most dangerous people involved in the currency smuggling file through his management of more than one bank and financial institution.”

He added, "The operation took place according to fundamental judicial procedures after the accused attempted to flee outside the country," noting that "the accused, through owning several banks that had dealings with many banking companies, controlled the circulation of tens of millions of dollars daily outside the legal context."  LINK

Exchange Rates Are Close To 159 Thousand Dinars For Every 100 Dollars In Baghdad Markets And Money Exchangers

Economy |  Baghdad today - Baghdad   The exchange rates of the US dollar against the Iraqi dinar stabilized today, Thursday (November 16, 2023), in the markets and exchange offices of the capital, Baghdad, after a noticeable decline over the past two days .

The selling price in transactions this morning was 158,750 thousand dinars for every 100 US dollars, while the buying price was 156,750 thousand Iraqi dinars for every 100 US dollars .

The official price issued by the Central Bank of Iraq is 132,000 thousand dinars per 100 US dollars. LINK

A New Rise In Dollar Prices In Iraqi Markets.. This List

Economy  2023-11-16 | Alsumaria News – Economy   Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Thursday, November 16, 2023.

The selling price of the dollar in the local markets in the capital, Baghdad, was 158,750 per 100 dollars, while purchasing prices reached 156,750 per 100 dollars.

For more than 8 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 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.    مقالات ذات صلة    LINK

Warka Bank Increased To 271.6 Billion Dinars

Warka Bank   Drains   Economy News – Baghdad  The Company Registration Department, in the Ministry of Commerce, decided to approve increasing the capital of the Warka Bank for Investment and Finance to 271.6 billion dinars.

According to an official document obtained by Al-Iqtisad News, the legal procedures to increase the capital of Warka Bank from 105 billion dinars to 271.6 billion dinars have been completed.

She added that new shares were issued worth 166.5 billion dinars, the value of each share being one dinar.   Views 31 11/16/2023 - https://economy-news.net/content.php?id=37587

Its Harmful Effects Are... A Parliamentary Warning Against Printing A New Monetary Mass

Economy | 11/15/2023  Mawazine News - News  Independent MP Nazem Al-Shibli warned today, Wednesday, of the dangers of printing a new monetary mass, stressing that the rise in the price of the dollar has harmed the livelihood of a segment of poor citizens.

Al-Shibli said in a statement received by Mawazine News, "This step may lead to the erosion of the value of the Iraqi dinar, especially in light of the governor's failure to manage monetary policy."

He added, "Central Bank Governor Ali Al-Alaq failed to manage the crisis and is unable to achieve stability in the value of the Iraqi dinar," pointing out that "printing a new monetary mass will lead to adverse damage."

Al-Shibli pointed out that "the Central Bank floundered in the rise of the dollar, which directly affected the simple Iraqi citizen in his strength and daily livelihood."

https://www.mawazin.net/Details.aspx?jimare=237895

Provoking Points To Ponder From Daily Reflections For Highly effective People By Stephen Covey:

Effective People are not problem-minded -- they're opportunity-minded -- They feed opportunities and starve problems -- p154

Paradigms are powerful because they create the lens through which we see the world -- The power of a paradigm shift is the essential power of quantum change - whether that shift is an instantaneous or a slow and deliberate process -- p32

We must look at the lens through which we see the world - as well as at the world we see - and understand that the lens itself shapes how we interpret the world -- p17

We simply assume that the way we see things is the way they really are or the way they should be - And our attitudes and behaviors grow out of those assumptions -- p24

Each of us has many - many maps in our head - which can be divided into two main categories: maps of the way things are, or realities -- and maps of the way things should be - or values -- We interpret everything we experience through these mental  maps -- p24

Our character - basically - is a composite of our habits -- Because they are consistent - often unconscious patterns - they constantly daily - express our character and produce our effectiveness ........ or ineffectiveness -- p46

You are NOT your habits -- You CAN replace old patterns of self defeating behavior with new patterns - new habits of effectiveness - happiness and trust-based relationships -- p61

Highly Proactive People recognize their "respons-ability -- the ability to choose their response -- They do not blame circumstances - conditions - or conditioning for their behavior -- their behavior is a product of their own conscious choice - based on values - rather than a product of their conditions  - based on feeling -- p71

Reactive People focus on circumstances over which they have  no  control -- the negative energy generated by that  focus - combined with neglect in areas they could do  something about - causes their Circle of Influence to shrink -- p83

Proactive People focus their efforts on the things they can do something about -- the nature of their energy is positive - enlarging - and magnifying causing their Circle of Influence to increase -- p83

Whatever is at the center of our life will be the source of our security - guidance - wisdom and power -- p109 

"Tidbits From TNT" Thursday Morning 11-16-2023

TNT:

CandyKisses:  Governorates that decided to suspend official working hours on Thursday

Baghdad Today - Baghdad

Six Iraqi provinces announced the suspension of official working hours for schools and universities today, Thursday (November 16, 2023), due to rain.

The provinces of Najaf, Dhi Qar, Salah al-Din, Maysan, Muthanna and Diwaniyah decided to suspend the official working hours of schools and universities on Thursday due to heavy rain and bad weather.

The governorates excluded the exams for the third round of the holiday, in addition to the service, security and health departments.

Tishwash:  Al-Sudani: Iraq’s victory in membership in the Executive Council of UNESCO represents its return to international affairs

 Wednesday, Prime Minister Muhammad Shiaa Al-Sudani congratulated all Iraqis on the occasion of Iraq’s victory in membership in the Executive Council of UNESCO.

Al-Sudani said on the (X) platform, “We extend our sincere congratulations and blessings to all Iraqis, their academics and cultural elites, on the occasion of Iraq’s winning membership in the Executive Council of UNESCO, which represents the highest scientific and cultural authority in the world.”

He added, “Iraq’s return to important international fronts represents a natural entitlement for our beloved country, which has given the world knowledge, science, and culture in ancient times and modern times.

It also falls within the government’s policy and program to restore Iraq’s position in all international forums. Thank you to the countries that voted for Iraq, and salute to the efforts made by Iraq’s representatives to obtain this entitlement.” link

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Tishwash:  Parliamentary Finance stresses the necessity of accelerating the implementation of the comprehensive banking system

Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, stressed today, Wednesday, the necessity of accelerating the implementation of the comprehensive banking system, while stressing the importance of facilitating loan granting procedures.

The media office of the Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, said in a statement received by Mawazine News, “Al-Atwani chaired a session hosting government bank directors, to discuss ways to achieve banking and financial reform in the country,” noting that “the meeting, which was attended by representatives, members of the Finance Committee and bank directors Al-Rafidain, Al-Rasheed, Real Estate, Industrial, and Agricultural, discussed a number of important files related to the work of government banks, including mechanisms for granting banking facilities in granting loans and reducing interest rates and other services.”

He added, "The meeting reviewed the steps for preparing the banking reform paper in line with the government program, through the implementation of the comprehensive banking system."

Al-Atwani stressed "the necessity of accelerating the implementation of the comprehensive banking system," pointing out that "we will hold joint specialized workshops in order to prepare a draft of the government banks work law."
He stressed "following up on the steps to prepare the banking reform paper," expressing his support for "efforts to improve and advance this vital, important sector."

He pointed to "the importance of facilitating loan granting procedures and studying their economic feasibility in order to achieve development," explaining that "automating systems and programs is the only way to get rid of routine and fight corruption."

He stressed "accelerating the completion of the steps to transition from the paper system to the electronic system for all sectors and institutions," pointing to "the importance of preparing data centers in accordance with the standards of the Central Bank and international banks."

He stressed, "The Real Estate Bank must complete lending transactions for citizens who have completed disbursement procedures within the housing initiative."   link

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CandyKisses:  Parliament Finance indicates the reason for the decline in the exchange rate and talks about "a crackdown on smugglers" - urgent

Baghdad Today - Baghdad 

In recent days, local markets have witnessed a decline in the exchange rate of the dollar against the Iraqi dinar, reaching 158 thousand for every 100 dollars. The Finance Committee in the House of Representatives indicated the reasons for the decline, while revealing "control over smugglers."

Committee member Moin Al-Kazemi said today, Thursday (November 16, 2023), that "there is security and intelligence progress in the file of identifying dollar smugglers, and during the past days a number of them have been overthrown."

Al-Kadhimi indicated in an interview with "Baghdad Today" that "this greatly affected the decline in the dollar exchange rate in the parallel market."

The member of the parliamentary finance committee, that "there is great economic importance to thwart the smuggling of foreign currency," pointing out that "there is government interest in this file and the security and intelligence services have information about those parties and personalities and work is continuing to pursue them and overthrow them."

Yesterday, Wednesday (November 15, 2023), the National Security Agency announced the arrest of the most dangerous person involved in the currency smuggling file through its management of more than one bank and financial institution.

The agency said in a statement received by "Baghdad Today", that "in implementation of the directives of the Prime Minister to follow up the file of currency smuggling strike and speculation and to complete the series of qualitative operations and painfuls carried out by the National Security Service against organized crime gangs that seek to sabotage the national economy, and direct damage to the lives and security of citizens, and after an intelligence and field effort, we announce the arrest of one of the most dangerous involved in the file of currency smuggling Through his management of more than one bank and financial institution."

He added, "The operation took place according to due process after the defendant tried to escape outside the country," noting that "the defendant, through owning several banks that have dealings with many exchange companies, was controlling the circulation of tens of millions of dollars daily outside the legal context."

Mot: ..... Whereas the Man's remote just has an On/Off button 

Mot:  . Poor - Earl!!! --- siigghhhhh

Iraq Economic News and Points to Ponder Late Wednesday Evening 11-15-23

Iraq Economic News and Points to Ponder Late Wednesday Evening 11-15-23

Tlm724 Administrator Bondlady’s Corner

The "Sudden" Decline Of The Dollar In Iraq.. What Is The Reason And Will It Rise Again?

Economy/Localities |13-11-2023 |Baghdad today – Baghdad  During the past 24 hours, dollar exchange rates suddenly decreased by more than 4%, amid questions about the reason for this decline and whether it is permanent or will return to rising again.

Professor of Economics at Saladin University, Khurshid Othman, considered today, Monday (November 13, 2023), that the decline in the price of the dollar in the parallel market is “temporary.”

Othman said in an interview with “Baghdad Today” that “there is a group of speculators who have coordination and cooperation among themselves, and they are the ones who control the dollar exchange rate, whether rising or falling.”   

He added,  "The decline in the dollar exchange rate will continue during the next two days, but it will rise again.

It is a trick by speculators to withdraw the dollar from the citizen at a low price and then sell it again."

Today, Monday, the dollar exchange rates witnessed a noticeable decline in the parallel market and money exchangers, as the average exchange rate reached 160 thousand dinars per 100 dollars, after exceeding the barrier of 166 thousand dinars during the past two days.

The decrease came in conjunction with the Central Bank’s announcement of an agreement with the US Federal Reserve to supply new bank balances in dollars and increase the number of banks capable of carrying out transfers from 5 to 10 banks,

in addition to opening the door to importing dollars from abroad to licensed banks, in addition to opening a platform for booking dollars by travelers.

All of these decisions led to reducing the demand for the dollar, according to specialists.

https://baghdadtoday.news/235436-العراق-يخطط-لــإهمال-الدولار-الأمريكي-والبرلمان-يقترح-تنويع-سلّات-العملة-الأجنبية.html

Its Harmful Effects Are... A Parliamentary Warning Against Printing A New Monetary Mass

11/15/2023  Mawazine News – News  Independent MP Nazem Al-Shibli warned today, Wednesday, of the dangers of printing a new monetary mass, stressing that the rise in the price of the dollar has harmed the livelihood of a segment of poor citizens.

Al-Shibli said in a statement received by Mawazine News, "This step may lead to the erosion of the value of the Iraqi dinar, especially in light of the governor's failure to manage monetary policy."

He added, "Central Bank Governor Ali Al-Alaq failed to manage the crisis and is unable to achieve stability in the value of the Iraqi dinar," pointing out that "printing a new monetary mass will lead to adverse damage."

Al-Shibli pointed out that "the Central Bank floundered in the rise of the dollar, which directly affected the simple Iraqi citizen in his strength and daily livelihood."

https://www.mawazin.net/Details.aspx?jimare=237895

The Central Bank Agrees To Import The Dollar To Three Private Banks

Dollar  Economy News – Baghdad  A government source revealed, today, Wednesday, that the Central Bank issued official approvals to three Iraqi private banks to import the US dollar to meet the needs of citizens, confirming that one of the banks’ shipments had actually arrived in Iraq.

The source said, “Over the past two days, the Central Bank issued official approvals to three Iraqi private banks to import the US dollar to meet their customers’ need for this currency in amounts amounting to $100 million,” stressing that “one of the banks’ shipments has actually arrived in Iraq.”

He added, "There are applications from other banks that are on their way to be submitted for decision by the Central Bank of Iraq."

The source confirmed, "The Trade Bank of Iraq (TBI) is currently holding important discussions with several international companies to transfer amounts amounting to $120 million, and they are on their way to completion within the next few days."

Views 80 11/15/2023 - https://economy-news.net/content.php?id=37551

The Central Bank Achieves A New Step In The Right Direction To Regulate Foreign Trade

Samir Al-Nusairi   Our national economy has been suffering for two decades from a lack of clarity in methodology, fragmentation of policies, and ambiguity in economic decision-making, in addition to its impact on economic, political, and security variables in countries of the world and countries of the region.

Inside Iraq, which clearly led to the failure to achieve stability in the monetary system and the financial system, and thus to the failure to achieve the required economic stability. What further complicated the matter was the weak coordination between monetary policy and financial policy, and thus the lack of clear policies for the real sector, especially for agriculture, industry, and trade, both internally.

And certainly the impact of this on the lack of control over external transfers of imports in US dollars, which confused the monetary market and the commercial market during the years 2021 and 2022, and Iraq was obliged by the US Federal Reserve to pass all external transfers through the electronic platform in accordance with new controls and strict oversight to control the arrival of the dollar to the final beneficiary.

In addition to this, the relevant governmental authorities do not control illicit trade and do not control unofficial border crossings, which forced the Central Bank to assume its role specified in Law No. 56 of 2004 and to take, as of the first quarter of 2023, a large number of procedures, mechanisms and negotiating efforts with the US Federal Reserve.

And banks of other countries with which Iraq has important trade exchange, such as China and India, and some solid correspondent banks for the purpose of organizing foreign trade operations and controlling the movement of foreign transfers in accordance with sound international banking standards.

The efforts of the Central Bank bore fruit last week, after a number of negotiating rounds that lasted for several months, in reaching a new agreement with the US Federal Reserve, in cooperation with Citibank, JP Morgan, and the Singaporean Development Bank, and through some Jordanian banks that have Accounts opened for some Iraqi banks to open new banks, enhance their balances in US dollars, and use new currencies, namely the euro, the Chinese yuan, the Indian rupee, and the UAE dirham, with the aim of increasing the reception channels for merchants and importers, facilitating the procedures for their external transfers, shortening the time limits for external transfers on the electronic platform, and addressing cases of rejection that previously occurred for some transfers. Some merchants.

As well as issuing instructions to allow banks to import the foreign currencies they need for the purposes of covering their daily transactions in accordance with special conditions and controls under the supervision of the Central Bank.

The success of these steps requires that the banks included in the agreement with the US Federal Reserve and wishing to import foreign currencies must provide the necessary supplies and conditions and provide all conditions and capabilities to attract traders.

Importers and customers in accordance with the standards and controls that have been agreed upon. This may require some time to enter the new method of foreign transfers, with direct coverage from the correspondent banks that have been agreed upon for direct implementation to enhance bank balances and diversify foreign currencies.

I believe beyond doubt that the Central Bank has begun implementing its new strategy with sober steps based on an accurate diagnosis of the problems of foreign transfers and exchange rate stability. We hope that the number of banks covered and the number of sober global correspondent banks whose dealings gain the confidence of central banks, including the US Federal Bank, will increase and that the price stability crisis will increase. Drainage is starting to ease.

99 views 11/15/2023 - https://economy-news.net/content.php?id=37554

Central Bank: Agreement With Turkish Banks To Enhance External Transfer In The Euro Currency

Central Bank of Iraq   Economy News – Baghdad   An authorized source in the Central Bank of Iraq revealed, on Wednesday, the Central Bank’s agreement with Turkish banks to open accounts for Iraqi banks with the aim of enhancing external transfer in the euro currency .

The source said in a statement reported by the official news agency, and seen by Al-Eqtisad News, that “the Central Bank of Iraq agreed with Turkish banks to open accounts for Iraqi banks for the purposes of external transfer and to enhance balances to finance foreign trade in the euro,” pointing out that “the agreement came during a meeting.” Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, with the Turkish Ambassador, the Chairman of the Turkish Business Council, and the managers of Turkish bank branches in Iraq .

He added, "Other proposals have been developed that will be discussed in Istanbul at the end of this month with the participation of the Central Bank of Iraq and representatives of Iraqi banks ."

The source confirmed, “The agreement came to facilitate the trade exchange process between Iraq and Turkey, especially since the volume of trade between the two countries is very high, in addition to expanding external transfer outlets for importers in the euro currency,” stressing, “The Central Bank of Iraq has taken a number of measures that will contribute to reducing Dollar exchange rate .

He pointed out, "This agreement comes within the work strategy of the Central Bank of Iraq and the implementation of its plan to shift from the electronic platform for external transfers to transfers through correspondent banks to Iraqi banks, and to create multiple channels for external transfers, leading to the transfer of all local banks to external transfers via correspondent banks." ".

Views 30 11/15/2023 - https://economy-news.net/content.php?id=37571

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

https://www.bondladyscorner.com/

 Provoking Points to Ponder on FEAR for Living the Bold Life by Tess Marshall

51. Only those who have never known fear are allowed to think less of others for being afraid. Frankly, I think anyone who has never been afraid of anything in their entire life is either a liar or lacks imagination. ~ Laurel K. Hamilton

52. When you are grateful, fear disappears and abundance appears. ~ Anthony Robbins

53. There is no beauty in sadness. No honor in suffering. No growth in fear. No relief in hate. It’s just a waste of perfectly good happiness. ~ Katerina Stoykova Klemer

54. Courage is knowing what not to fear. ~ Plato

55. A further sign of health is that we don’t become undone by fear and trembling, but we take it as a message that it’s time to stop struggling and look directly at what’s threatening us.~ Pema Chodron

56. We cannot love when we feel fear…When we release the fearful past and forgive everyone, we will experience total love and oneness with all. ~ Gerald Jampolsky

Goldilocks' Comments and Global Economic News Wednesday Morning 11-15-23

Goldilocks' Comments and Global Economic News Wednesday Morning 11-15-23

Good Morning Dinar Recaps,

The Collapse of the Health Insurance CPI (How it Became Chicken**)   Wolf Street Link

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Digital Assets and Blockchain Hub   LINK

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FACT SHEET: President Joseph R. Biden and President Joko Widodo Announce the U.S.-Indonesia Comprehensive Strategic Partnership       The White House Link

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 On November 15, 2023—the statutory deadline—the Federal Communications Commission (FCC) will vote on rules to prevent so-called “digital discrimination,” i.e., discrimination in access to broadband services. Akin Gump Strauss Hauer & Feld LLP Link

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Legislative Research: US HB6365 | 2023-2024 | 118th Congress | LegiScan
https://legiscan.com/US/research/HB6365/2023

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The Committee is now considering H.R. 6365, the Stopping Illicit Oil Shipments Act of 2023, sponsored by @RepMaxineWaters.

https://twitter.com/FinancialCmte/status/1724500323669016667?t=AWWI0ZwmNKB7Z2-ePNsSMw&s=35

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The Iraqi government has been implementing strict measures to protect the Iraqi dinar, and is planning to ban all USD cash transactions by the start of 2024.

Iraq is set to implement several new economic measures to strengthen the country’s currency against the US dollar further, a government source told the Iraqi News Agency (INA) on 14 November.  

https://new.thecradle.co/articles/baghdad-reveals-new-economic-package-to-further-de-dollarize-trade

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China and the United States have agreed to pursue efforts to triple renewable energy capacity globally by 2030.

Triple?

We are going to need a lot more copper and silver.

We better get mining.

Read: https://x.com/goldtelegraph_/status/1724650450152988989?s=46

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"The SEC Adopts Security-Based Swap Execution Facility Rules that Closely Resemble Existing CFTC Swap Execution Facility Rules"

Not long ago we had the CFTC approve the Security-Based Swap Execution Facility Rules. Now, we have the SEC doing the same with similar rules.

Both the CFTC and the SEC work together in securing, registering, and executing foreign currency swaps among other assets.

It looks like we have an agreement to move forward on rules both entities can work with going forward.

"The Final Rules also implement Section 765 of the Dodd-Frank Act to mitigate conflicts of interest at SBSEFs and national securities exchanges (NSEs) that list security based swaps."

© Goldilocks

https://www.natlawreview.com/article/copy-and-paste-sec-adopts-security-based-swap-execution-facility-rules-closely

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"USDV stablecoin backed by tokenized treasuries launches"

The USDV Coin is backed by the US Treasury and an equivalent to the US dollar. It is supported by short term US Treasury Bills converted into digital tokens on the blockchain.

Stablecoins are digital tokens that are equivalent to a country's currency value. At the present time, qualified registered investors are able to buy this product.

Holders of this coin are able to verify the Treasuries backing the coin in real time.

© Goldilocks

https://crypto.news/usdv-stablecoin-backed-by-tokenized-treasuries-launches/

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Stellar Protocol 20 Upgrade Unleashes the Power of Soroban CryptoNewsFlash Link

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MUMBAI, India, Nov. 14, 2023 /PRNewswire/ -- Yodaplus DocuTrade, in a collaborative endeavor with its ecosystem partner XDC Trade Network, has successfully executed a pioneering transaction by converting traditional paper Bills of Lading (BL) to electronic BL (eBL). This groundbreaking transaction demonstrates DocuTrade's prowess in digitizing trade documents, thereby also facilitating capital provisioning against the fractionalized eBL for a shipment duration of 7 days. PRNewswire Link

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The Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking this week that seeks to expand its authority to supervise and examine providers of digital wallets and payment applications.

The proposal is the latest “larger participant” rule issued by the CFPB, and the first since 2015. Prior rules defined larger participants for student loan servicing, consumer reporting, automobile financing, debt collection and remittance markets.

https://www.jdsupra.com/legalnews/cfpb-takes-next-step-in-its-big-tech-9901404/

https://www.fintechlawblog.com/2023/11/08/cfpb-wants-to-oversee-large-nonbank-digital-payment-providers/

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Now is the time to digitalise trade finance and restore confidence, Banking & Finance  

THE BUSINESS TIMES Link

 👆 Goldilocks pointed to this article

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Climate Activists Stress the Importance of Negotiating a Formal Agreement to Replace Fossil Fuels at COP28   EnergyPortal EU Link

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Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

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Thank you   Dinar Recaps

Iraqi News Highlights and Points to Ponder Wednesday AM 11-15-23

Iraqi News Highlights and Points to Ponder Wednesday AM 11-15-23

Diversifying The Foreign Currency Commodity In Iraq..Does It Increase The Value Of The Dinar?

November 14, 2023  Baghdad/Al-Masala Al-Hadath: The Finance Committee in the House of Representatives said, on Monday, that there is a necessary and important need to diversify the basket of foreign currencies in Iraq and not depend on the US dollar. Diversifying the basket of foreign currencies also helps enhance trade with other countries that use these currencies. It also contributes to increasing the attractiveness of foreign investments.

Members of the committee believe that “the basket of foreign currencies in Iraq must be diversified and not relied on the dollar in commercial transactions, whether external or even internal, as this reduces American dominance over the Iraqi economy.”

The committee considers that the Iraqi economic environment is ready and prepared to strengthen banks in various foreign currencies and not be limited to the US dollar.

The committee expects that the coming days will witness various commercial transactions through the UAE dirham, as well as the Chinese yuan and other currencies, and this will reduce the demand for the dollar, and will have an impact on reducing the dollar exchange rate in the parallel market.”

The currencies that could be useful to Iraq are the euro, as it is the second most widely used currency in the world, and it is a relatively stable currency, in addition to the Japanese yen, as a relatively stable currency, which is a basic currency in many financial markets, as well as the Chinese yuan, which is a rising currency, and a basic currency in Many emerging markets, in addition to the UAE dirham and the Saudi riyal, which is a basic currency in the Gulf region.  https://almasalah.com/archives/72960

America Extends Iraq's Exemption From Sanctions Imposed On Iran

Energy    Economy News _ Baghdad  The United States of America announced that it had extended for four months the exemption period granted to Iraq from sanctions related to dealing with Iran, allowing Baghdad to continue importing energy from the Islamic Republic.

A senior US State Department official told reporters, requesting that his name not be published, that "this measure will allow Iraq to use its own funds to pay the costs of importing electricity from Iran, which will be placed in Iranian accounts restricted in Iraq."

He added, "Iran will not be able to use this money except for humanitarian needs."

Due to the sanctions imposed by the United States on the Islamic Republic, Baghdad cannot directly pay Tehran for its imports of Iranian gas.

The senior American official explained that the total debt owed to Tehran by Baghdad in exchange for previous Iraqi imports of Iranian gas amounts to about 10 billion dollars.

To force Baghdad to pay its unpaid debts, Tehran regularly suspends its gas supplies to Iraq, which desperately needs these imports to operate electricity production plants.

Iranian gas supplies cover a third of the needs of electricity production plants in Iraq.

The exception also stipulates that a portion of Iranian gas funds be transferred to Oman.

This is the 21st time that Washington has extended this exception to the sanctions since 2018.

Although Iraq is an oil country, it relies heavily on Iran in the field of energy, as it imports a third of its consumption needs of gas and electricity from it due to its dilapidated infrastructure, which makes it unable to achieve self-sufficiency to meet the needs of its population of 40 million people.

Iraq currently produces 16,000 megawatts of electricity, which is much less than its estimated need of 24,000 megawatts, reaching 30,000 in the summer, while its population may double by 2050, which means an increase in its energy consumption, according to the United Nations.

The previous US administration, under President Donald Trump, withdrew from the nuclear agreement concluded with Iran and at the end of 2018 reimposed sanctions on the Islamic Republic.

Because of these sanctions, many countries and international companies refrain from dealing with the Iranian government or even with Iranian companies for fear of being affected by the sanctions.

Views 34 11/15/2023 - https://economy-news.net/content.php?id=37548

Despite The US Extension Decision.. Will Iraq’s Import Of Iranian Gas Be Affected By Regional Conflicts?

Economy |  Baghdad today – Baghdad  The Parliamentary Oil and Gas Committee confirmed today, Wednesday (November 15, 2023), that Iraq will remain far from the conflict of the axes and will not be affected by the local and regional crises regarding its import of gas from Iran.

Committee member MP Ali Saadoun told Baghdad Al-Youm, “Iraq depends entirely on the operation of its electrical stations on importing gas from Iran, and there is no possibility to stop it because of its significant impact on equipping citizens with electrical energy.”

He added, "Iraq always tries to distance itself from any regional and international disputes and works to establish balanced relations with everyone. It refuses to enter into the policy of axes, and that is why it has a good and good relationship with Iran, as well as with the United States of America and the rest of the world, and it is working to take Approvals regarding the payment of money to Iran for importing gas, and this pace will continue until Iraq reaches gas investment and reaches self-sufficiency locally.”

The administration of US President Joe Biden decided to extend Iraq's exemption from sanctions requiring it not to deal with Iran for a period of four months, which allows Baghdad to continue purchasing electricity and gas from Tehran.

US officials said that US Secretary of State Anthony Blinken signed a 120-day extension of the waiver and it was referred to Congress.

Blinken signed the waiver mainly because the administration did not want to cut off Iraq from a vital source of energy, the officials said.

They indicated that the administration is confident that Iran will not be able to use any of these funds for war purposes, stressing that there is a strict examination process to ensure that the use of funds is limited to food, medicines, medical equipment, and agricultural goods.

The exemption would extend billions of dollars in sanctions relief and allow Iraq to transfer frozen electricity payments to Iranian-owned bank accounts in Europe and Oman.  LINK

After The "Oil Giant" Left Qurna... Will America Turn Its Back On Iraq Because Of The Gaza War?

Politics |   Baghdad today – Baghdad   Today, Tuesday (November 14, 2023), the Parliamentary Oil and Gas Committee considered that Iraq is an important economic partner for the United States of America and will not be distracted from it due to the Gaza war.

Committee member Ali Al-Mashkour told “Baghdad Today” that “the United States of America considers Iraq an important ally on the economic and investment levels, and it pays great attention to this file,” considering that “Washington cannot leave Baghdad because of any preoccupation it has with any file.” External, whether the Gaza war or elsewhere.”

This came in conjunction with the Ministry of Oil signing a settlement agreement with the American energy giant ExxonMobil to put the final touches on its exit from the West Qurna 1 oil field.

In this regard, Al-Mashkoor stated that “work in the Iraqi oil sector is not limited to any foreign company, American, Chinese, Russian or other. Iraq deals with this file according to its interests and according to the offers made to it by those companies, and it has nothing to do with the issue of disputes between large countries".

According to the recent agreement, the Chinese company "PetroGina" will own the largest share in the West Qurna 1 field after the departure of the American "ExxonMobil", which owned a 22.7% stake in the giant West Qurna 1 oil field in Iraq, which has a capacity of 550 thousand barrels per day. According to the Ministry of Oil.   LINK

Provoking Points To Ponder From Daily Reflections For Highly effective People By Stephen Covey:

If we want to change a situation, we first have to change ourselves -- And to change ourselves effectively - we first have to change our perceptions  -- p18

Albert Einstein observed - " The significant problems we face cannot be solved at the same level of thinking we were at when we created them" -- p42

The way we see the problem - is the problem -- p40

Effective People are not problem-minded -- they're opportunity-minded -- They feed opportunities and starve problems -- p154

Paradigms are powerful because they create the lens through which we see the world -- The power of a paradigm shift is the essential power of quantum change - whether that shift is an instantaneous or a slow and deliberate process -- p32

We must look at the lens through which we see the world - as well as at the world we see - and understand that the lens itself shapes how we interpret the world -- p17

We simply assume that the way we see things is the way they really are or the way they should be - And our attitudes and behaviors grow out of those assumptions -- p24

Each of us has many - many maps in our head - which can be divided into two main categories: maps of the way things are, or realities -- and maps of the way things should be - or values -- We interpret everything we experience through these mental  maps -- p24

"Tidbits From TNT" Wednesday Morning 11-15-2023

TNT:

CandyKisses:  National Security arrests the most dangerous speculators and smugglers of foreign currency

Economy News-Baghdad

The National Security Agency announced on Wednesday the arrest of one of the "most dangerous" speculators and smugglers of tens of millions of dollars a day.

The agency said in a statement received by "Economy News", that "as a continuation of the series of qualitative operations and painful strikes carried out by the National Security Agency against organized crime gangs that seek to sabotage the national economy, and after an intelligence and field effort, we announce the arrest of one of the most dangerous involved in the file of currency smuggling through his management of more than one bank and financial institution."

"The operation took place in accordance with due process after the accused tried to flee the country," he said.

The defendant, by owning several banks that have dealings with many exchange companies, controlled the circulation of tens of millions of dollars daily outside the legal context," he said.

Tishwash:  The dinar begins its “recovery journey” against the dollar

The Iraqi dinar continues to recover against the US dollar in the local markets in light of the continued government measures to close the price difference, as the decline reached the limits of 158 thousand per 100 dollars, at a time when experts expected that this decline is “temporary.”

Yesterday, Tuesday, in a press statement, a government source revealed a package of new measures to address the difference in the exchange rate, including regulating the import process and ensuring the entry of the largest number of merchants and importers to the foreign currency sales window by facilitating account opening procedures, deposit operations, and other procedures related to issuing the importer’s identity. Which will facilitate the “know your customer” requirements for merchants and importers.

He explained that Prime Minister Muhammad Shiaa Al-Sudani directed the activation of a joint committee between the government, the central bank and the private sector, under the supervision of his office, to hold serious discussions with the US Treasury regarding transfers through the foreign currency selling window, and the committee began its meetings from now.

He stated that there are ongoing negotiations between the government and the Central Bank with the Iranian side to regulate trade between the two countries and make the best options regarding payment of dues and amounts, and discussions are taking place at a good pace. 

The source pointed out that the government is holding ongoing discussions with the Central Bank regarding a number of topics, including facilitating procedures related to Iraqi banks importing the dollar (cash).

This process has already begun with some banks importing the dollar, and the process will expand to include other banks, and work is also underway on Proceeding to conclude agreements to supply the currencies of some countries to be provided through banks and banking companies to meet the needs of tourists and pilgrims going to those countries without the dollar currency.

He continued that the government is now working on an “equal deal” project to exchange trade and imports with some countries, such as China and India, and in their own currencies from Iraq’s main trading partners, such as India, China, and some neighboring countries, pointing out that the government is currently studying the establishment of a free zone to import materials and then market them to the private sector and ensure Delivering it to the consumer at competitive prices and in dinars.

The government is also currently studying a re-export project and there are important discussions in this regard. For his part, the economic expert, Diaa Al-Mohsen, attributed the decline in the dollar exchange rates in local markets to the systematic attempt to withdraw the dollar from citizens, while he stressed that the decline is “temporary” and will not continue or come close to the official exchange rate.

Al-Mohsen said in a press statement: There are parties that directly control the price of the dollar in the local markets, indicating that the recent measures and meetings will not lead to reducing the gap between the official and parallel prices.

He continued that the recent meetings that took place in the Emirates were marred by many problems and did not produce accurate results that would work to find solutions to the crisis of the rise in dollar prices, pointing out that the banks of some countries will benefit from the process of bidding farewell to the Iraqi currency, according to him. In turn, Khurshid Othman, professor of economics at Saladin University, confirmed that the decline in the dollar exchange rate in the parallel market is “temporary” and is due to the coordination and cooperation of a group of speculators who control the dollar exchange rate.

Othman expected the dollar exchange rate to continue to decline in the next two days, but pointed out that it would witness a rise again due to the trick of speculators in luring citizens to buy the dollar at low prices and then sell it again. link

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Tishwash:  Advisor to the Prime Minister: The government worked in two directions to defend economic stability

 The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that the government worked in two directions to defend economic stability, while noting that the country’s foreign currency reserves are the largest in Iraq’s financial history, and the package to address exchange rates aims to prevent profiteering at the expense of economic stability.

Saleh said to the Iraqi News Agency (INA): “The country’s foreign currency reserve is the largest in Iraq’s financial history and exceeds 100 billion dollars, as it constitutes Iraq’s central reserve portfolio,” indicating that “market demand to finance external exchanges for the private sector is done through these The official reserves displayed by the Monetary Authority through its platform at the official exchange rate of 1,320 dinars per dollar.

He added, "The high commercial efficiency of the country's foreign currency reserves has its highest standard indicators for a period of more than (fifteen commercial months), while the global standard is about (three months)."

He added, "At a time when the demand for foreign currency is financed through the Central Bank of Iraq platform and bank balances are enhanced in various foreign currencies to finance private sector foreign trade, which constitutes 85% or more of the actual need of the demand for external transfer and in accordance with governance rules and standards."

Globally, despite this, there is a demand for the cash dollar to finance commercial operations of very specific commodities that do not exceed five commodities, and forces from within the market are trying to purchase them from outside the official commercial mechanisms by resorting to obtaining the cash dollar from the parallel market (which is the market that does not It constitutes only 10% of the demand for foreign currency allocated for travel outside the country to finance its informal trade.

He continued, "These are commercial actions that are not legally recognized by the financial, commercial and banking departments and are carried out for many reasons, including tax or customs evasion or evasion of inspection and quality control procedures."

He pointed out that "the economic policy in general and the monetary policy in particular have all the economic capabilities to control the noise of the parallel market, which is represented by combating illegal commercial activities above all, as the state currently undertakes the policy of defending economic stability, especially in providing sufficient commodity supply for the goods that... It affects the life of the citizen directly, at moderate prices, financed at an exchange rate of 1,320 dinars per dollar on a permanent basis, and in two directions.

The first: providing additional supportive food and medicine baskets, construction baskets, and high-demand spare parts, and selling them at the official stable exchange rate through the cooperation mechanism between the commercial arm of the state and the national private sector, and

the second: The monetary authority has adopted new mechanisms by providing liquid foreign currencies in addition to the dollar currency (and from a basket of various foreign currencies) to meet travel needs according to the traveler’s destination, especially for Hajj, Umrah, and tourism in its various aspects and for various neighboring and distant countries, in addition to facilitating the use of payment cards with very high flexibility.”

He pointed out that "the policy package aims to contain the noise made by foreign currency speculators in the parallel market in order to profit at the expense of economic stability," noting that "the basic trends in economic policy are currently being implemented by isolating the effects of the parallel or black market and limiting its illegal activities from stability." The overall price system in the country   link

Mot: .. Ya Gots to Love ole ""Earl"" 

Mot:  .... Had the Worst shopping Day - EVER!!!! 

Goldilocks' Comments and Global Economic News Tuesday Evening 11-14-23

Goldilocks' Comments and Global Economic News Tuesday Evening 11-14-23

Good Evening Dinar Recaps,

CHICAGO, Nov. 13, 2023 /PRNewswire/ -- "Cboe Digital today announced plans to launch trading and clearing in margin futures on Bitcoin and Ether, beginning January 11, 2024."

It looks like Bitcoin and Ether are going prime time on the Futures Trading Market. What makes this an important date is that crypto is about to be given regulated clarity and validity inside the markets.

If this is successful, tokenized assets that brings the digital world and traditional markets together would be the next step assuming regulatory clarity goes through to make it possible.

If so, we will be well on our way to witnessing the new digital economy begin networking across all sectors of the market taking baby steps into the future.

© Goldilocks
PRNewswire Link

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BREAKING: 🇺🇸 US inflation falls to 3.2%, lower than expectations.

@WatcherGuru

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Key dates for Stellar Protocol 20 upgrade.

These dates are estimates, intended to help you plan to take necessary steps to prepare for the Protocol 20 upgrade. They may change over the next few weeks as audits and engineering tests are completed, and as new information comes in. When dates become definite, we will update this guide to let you know.

December 11 — Stellar Core, Horizon, and Soroban RPC pre-releases / Stellar SDK releases
December 18 — Testnet network upgrade readiness date and reset
December 19 — Stellar Core, Horizon, and Soroban RPC stable releases
January 30, 2024 — Public network upgrade readiness date

What do you need to do to prepare?

Before the January 30, 2024 readiness date, plan to install up-to-date versions of any and all Stellar-related software you use. If you fail to do so, your Stellar integration will be incompatible with Protocol 20, and it will likely break if and when an upgrade occurs.

https://stellar.org/blog/developers/protocol-20-upgrade-guide

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👆 Sorry folks, Protocol 20 has been pushed to January 30th 2024.

If all goes well with the first article I sent to you today, we will be able to move forward with the tokenization of assets.  I was wondering if this would get pushed back due to the first article I wrote this morning for you guys.

© Goldilocks

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We have not seen any major shifts in the Forex Market due to the dollar being the world Reserve Currency and pegged to most of the major currencies, but things are changing.

As countries are moving to the utilization of their own local currencies in trade as a payment source, this is why you are seeing 4X reforms take place at this time to adjust to these new changes.

Yes, new values will come because of these changes, and we are waiting on them to still finish these changes due to the tokenization of these assets and the implementation of Protocol 20.

© Goldilocks

Forbes Link

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When the traditional Market is transitioned over to the Digital Market being backed by real assets of real value, we can then begin looking for the final touches and conditions to be placed on what we are waiting for in currency revaluations.

© Goldilocks

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"Gold will set us free, and all roads lead to gold."

© Goldilocks

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Fitch Affirms Inter-American Development Bank at 'AAA'; Outlook Stable
Fitch Ratings Link

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If you are following closely to the change of events today taking place, you will realize that gold and digital tokens will affect the Forex Market.

These two sectors of the market are in process of being reformed and revalued. We are getting closer, but we are not there yet.

© Goldilocks

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CFTC’s Energy and Environmental Markets Advisory Committee to Meet November 13  
https://www.cftc.gov/PressRoom/Events/opaeventeemac111323

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Live updates: Federal government shutdown news  CNN Link

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Iraq Economic News and Points to Ponder Tuesday Evening 11-14-23

Iraq Economic News and Points to Ponder Tuesday Evening 11-14-23

Tlm724 Administrator Bondlady’s Corner

A Government Source Reveals A Package Of Measures To Address The Difference In The Exchange Rate

Economy |  11/14/2023  Baghdad - Mawazine News  Today, Tuesday, the government took a package of measures to address the difference in the dollar exchange rate.

A government source said in an interview with Mawazine News, “Among the measures is organizing the import process and ensuring the entry of the largest number of merchants and importers to the foreign currency sales window by facilitating account opening procedures, deposit operations, and other procedures related to issuing the importer’s identity, which will facilitate the (know your customer) requirements for the category.” Merchants and importers.

He continued, "The government and the Central Bank are conducting ongoing negotiations with the Iranian side to regulate trade between the two countries and make the best options regarding payment of dues and amounts, and discussions are taking place at a good pace."

He stressed that "Prime Minister Muhammad Shiaa Al-Sudani directed work on a number of important projects to ensure that the poor and middle-income groups are not affected by the exchange rate difference, as the Ministries of Commerce and Health are working to import important materials and provide them in Iraqi dinars at stable prices, an example of which is the food basket project (which prevails at stable prices)."

 And the pharmaceutical basket, the construction basket, and the basket of reserve materials for the transportation sector... some of which work began a while ago.”

He pointed out that "the government is now working on an (equal deal) project to exchange trade and imports with some countries, such as China and India, and in their own currencies from Iraq's main trading partners, such as India, China, and some neighboring countries."

He explained, "The government is currently studying establishing a free zone to import materials and then market them to the private sector and ensure their delivery to the consumer at competitive prices and in the Iraqi dinar, in addition to studying a re-export project, and there are important discussions in this regard."

He stated that "the government issued a series of measures to develop electronic payment systems and reduce dependence on cash... and a series of other decisions will be issued in the coming days regarding pricing and incentive policy for services provided through electronic payment."

He continued, "The Prime Minister directed the activation of a joint committee between the government, the central bank, and the private sector, under the supervision of his office, to hold serious discussions with the US Treasury regarding transfers through the foreign currency selling window, and the committee has begun its meetings from now."

He continued, "The government is holding ongoing discussions with the Central Bank of Iraq on a number of topics, including facilitating procedures related to Iraqi banks importing the (cash) dollar. This process has already begun with some banks importing the dollar, and the process will expand to include other banks, and work is also underway to proceed."

By concluding agreements to supply the currencies of some countries to be provided through banks and banking companies to meet the needs of Iraqi pilgrims going to those countries without the dollar currency.”  https://www.mawazin.net/Details.aspx?jimare=237763

Al-Halbousi Leaves The Parliament Session After His Membership Was Cancelled

Former Speaker of the House of Representatives, Muhammad al-Halbousi, left the parliament session, scheduled to be held today, Tuesday, after a judicial decision was issued to terminate his membership.

The Federal Supreme Court decided, earlier today, Tuesday, to terminate the membership of Muhammad Al-Halbousi, from the presidency of the House of Representatives.

The text of the decision stated: On Tuesday 11/14/2023, the Federal Supreme Court considered the case No. 9/Federal/2023, and decided, according to the ruling issued therein, to terminate the membership of the Speaker of the House of Representatives, Muhammad Rikan Al-Halbousi, and to terminate the membership of Representative Laith Mustafa Hammoud Al-Dulaimi, as of the date of issuance of the ruling in 11/14/2023 A final decision binding on all authorities.

https://www.radionawa.com/all-detail.aspx?jimare=36283

Iraq's Exports Of Oil And Its Products To America Exceed 60 Million Barrels Within 6 Months

Energy    Economy News – Baghdad  The US Energy Information Administration announced on Tuesday that crude oil exports to the United States amounted to more than 60 million barrels during six months of 2023.

The administration said that Iraq exported 60.387 million barrels of crude oil and its products to America from March until August.

She added that Iraq's exports of oil and its derivatives in the month of August amounted to 9.905 million barrels, an increase of 498 thousand barrels from what they recorded in July, when they reached 9.407 million barrels, and an increase of 575 thousand barrels from the month of June, in which exports reached 9.330 million barrels.

The US Energy Information Administration stated that OPEC's exports of crude oil and its products to America during the six months amounted to 261.284 million barrels, with Saudi Arabia having the highest rate of exports to America, reaching 86.470 million barrels during the same time period.

Views 51  Added 11/14/2023 - 1:45 PM   https://economy-news.net/content.php?id=37525

The Prime Minister Directs The Directors Of Government Banks To Submit A Plan Within One Month To Develop Their Work

Economy News – Baghdad  Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani directed the directors of government banks to submit a plan within one month in order to develop the work of the banks.

The media office of the Prime Minister stated in a statement received by Al-Iqtisad News that “Prime Minister Muhammad Shiaa Al-Sudani chaired a meeting that included the Minister of Finance, the Governor of the Central Bank and the directors of government banks,” indicating that “the meeting during which the work mechanisms and procedures achieved in administrative and banking reform were followed up.” , which the government has begun implementing, and constitutes one of the work priorities included within the comprehensive economic reform in the country.”

The Prime Minister directed “all government banks to prepare a plan to be submitted within one month, to develop the work of banks that includes the optimal use of financial, human and technical resources, moving from paper work to automated work, electronic dealing with all banking activities, expanding electronic payment services, and developing a comprehensive vision for banks in granting facilities.” credit and loans, and developing work mechanisms, including control and oversight tools.”

He stressed that "bank managers will be subject to performance evaluation in light of their implementation of the plan and the amount of achievement," stressing that "the real reform that the government was keen to achieve is based on banking reform, and it is determined to make bold decisions in order to implement this reform in a way that contributes to improving the investment environment." And developing the work of the public and private sectors.

The meeting witnessed a discussion of the implementation of the comprehensive banking system, through the use of advanced electronic programs and modern technology in all banking transactions, and a discussion of the development plan presented by the international company (Ernst & Young) regarding the restructuring of Rafidain Bank, to ensure the development of its business and the provision of a package of integrated banking services to citizens. Companies and similar international banks.

The Prime Minister directed "banking departments to seek international expertise by contracting with consultants specialized in banking and financial work."

Views 73  Added 11/14/2023 https://economy-news.net/content.php?id=37524

Exchange Rates In Baghdad Record 159 Thousand Dinars For Every 100 Dollars

Economy | 11:42 - 11/14/2023  Baghdad - Mawazine News  Today, Tuesday, the dollar exchange rates in Baghdad recorded a decrease compared to previous days.   The exchange rate of the dollar in Baghdad money exchangers reached 159 thousand dinars against 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=237769

Report: Restarting The Iraqi-Turkish Pipeline May Act As A “Headwind” For The Oil Market

Economy News - follow-up  An international report stated that renewed talks in Iraq to restart the oil pipeline with Turkey may act as a “headwind” for the market .

Oil prices rose on Tuesday, after a report by the Organization of the Petroleum Exporting Countries (OPEC) said that market fundamentals remain strong and against the backdrop of fears of possible supply disruption as the United States tightens its grip on Russian oil exports .

By 01:13 GMT, Brent crude futures rose 33 cents, equivalent to 0.4%, to $82.85 per barrel. US West Texas Intermediate crude futures also increased 33 cents, or 0.4%, to $78.59 per barrel .

In its monthly report, OPEC blamed speculators for the latest drop in prices. It also slightly raised its forecast for global oil demand growth in 2023 and stuck to its relatively high forecast for 2024 .

Last week, oil prices fell to their lowest level since July, affected by fears of a possible decline in demand in the United States and China, the world's largest oil consumers. China's consumer price index fell in October to levels not seen since the Covid-19 pandemic, and exports for that month contracted more than expected .

A report published by the “CNBC Arabia” network quoted ANZ Research analysts in a note on Tuesday, saying that “the declining morale in the recent period prompted OPEC to confirm its view that consumption is good .”

The note added, "Renewed talks in Iraq to restart an oil pipeline may serve as a headwind to the market "Oil Minister Hayan Abdul Ghani expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume production from the oil fields in the region and to resume exports from the northern fields via the Iraqi-Turkish pipeline .

Turkey has stopped flows amounting to 450,000 barrels per day of northern exports through the pipeline since March 25, after a ruling issued by the International Chamber of Commerce .

Views 47  11/14/2023 - https://economy-news.net/content.php?id=37539

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

https://www.bondladyscorner.com/

 Provoking Points to Ponder on FEAR for Living the Bold Life by Tess Marshall

43. Power is of two kinds. One is obtained by the fear of punishment and the other by acts of love. Power based on love is a thousand times more effective and permanent then the one derived from fear of punishment. ~ Mahatma Gandhi

44. Power does not corrupt. Fear corrupts… perhaps the fear of a loss of power. ~ John Steinbec

45. A kind of light spread out from her. And everything changed color. And the world opened out. And a day was good to awaken to. And there were no limits to anything. And the people of the world were good and handsome. And I was not afraid any more. ~ John Steinbeck

46. When we think we have been hurt by someone in the past, we build up defenses to protect ourselves from being hurt in the future. So the fearful past causes a fearful future and the past and future become one. ~ Alfred Hitchcock

47. The baby bat   Screamed out in fright,
‘Turn on the dark, I’m afraid of the light. ~ Shel Silverstein

48. I love you, I thought. But I didn’t say it. It was not that I feared she would laugh in my face. She was far too kind for that. My fear was a greater one – that she won’t say it back. ~ Alex Flinn

49. Your fear is 100% dependent on you for its survival. ~ Steve Maraboli

50. Deep in my heart I’m concealing things that I’m longing to say. Scared to confess what I’m feeling – frightened you’ll slip away. ~ Madonna