Goldilocks' Comments and Global Economic News Wednesday AM 11-28-23

Goldilocks' Comments and Global Economic News Wednesday AM 11-28-23

Good morning Dinar Recaps,

The banking crisis of 2024 will lead to the tokenization of banking assets and the consolidation of banking systems.

Banks that survive this crash will move forward under the new digital asset based trading system.

The BIS, World Bank, and the IMF have been working on the concept of tokenized assets for some time, and they have stated that their intention is to utilize these tokenized assets with countries around the world and especially with those less fortunate.

© Goldilocks
https://www.pymnts.com/news/payments-innovation/2023/imf-world-bank-and-bis-collaborating-on-uses-of-tokenization/

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We have commodities catching a strong bid as many countries deal with serious debt problems.

In other words,

Countries are prioritizing hard assets as the illusion of paper assets breaks.

This has been the thesis for years.

Let's see what happens.

Read: https://x.com/goldtelegraph_/status/1729714851306443103?s=46

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It is the tokenization of our old traditional assets that will give new value to the digital asset-based trading system.

Our new digitized economy will synchronize our markets and banking system together utilizing gold and other commodities to support real values.

Forex is part of this digital upgrade. This is why Protocol 20 is very important. It will begin the process of moving our new digital asset tokens into real standard protocols and values.

© Goldilocks
https://fintechmagazine.com/financial-services-finserv/how-digitisation-has-transformed-the-forex-market

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Iraqi News Highlights and Points to Ponder Wednesday AM 11-29-23

Iraqi News Highlights and Points to Ponder Wednesday AM 11-29-23

The Dollar Falls To Its Lowest Levels In 4 Months

Arab and international  Economy News _ Baghdad    The price of the US dollar fell to its lowest levels since the beginning of last August as swaps traders intensified their bets that the Federal Reserve will lower interest rates by next May.

The Bloomberg Dollar Spot Index fell for a fifth day, pressured by recession fears and more dovish comments from the Federal Reserve, which led investors to bet that the US central bank will be forced to retreat from the most aggressive monetary tightening cycle since the 1980s.

In a related context, the New Zealand dollar led gains among its G10 peers after the country's central bank warned of the possibility of raising interest rates further during the next year, while the Japanese yen rose to its highest level in two months with the decline of concerns about rising US interest rates.

“Dollar weakness will continue until market expectations of the Fed change, and this could be the main focus in 2024,” Win Thien, global head of currency strategy at Brown Brothers Harriman & Co, wrote in a note. "As the dollar rises, it will take some strong real economic data to change the Fed's current more dovish outlook."Views 21 11/29/2023 - https://economy-news.net/content.php?id=37955

Parliamentary Finance: The Government Will Reduce Circulating Liquidity By 10% Next Year

 Information / Baghdad..   Member of the Parliamentary Finance Committee, Mudar Al-Karawi, confirmed on Wednesday the government’s intention to reduce the liquidity circulating in Iraq by 10% during 2024.

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

Al-Karawi said in an interview with Al-Maalouma, “The Sudanese government has begun adopting a series of economic solutions aimed at electronic transition in paying wages and services to government institutions, including gas stations, via modern cards to reduce money circulation mechanisms.”

He added, "Beginning the electronic transition in the circulation of funds in state institutions has several positives that lie in economic advantages in terms of reducing cash liquidity and transferring it to an electronic nature, which will be more controlled, not to mention its contribution to strengthening the financial balances in banks and banks."

He pointed out that "the government's programs will reduce the liquidity circulating among citizens by at least 10% during 2024 if they are implemented in practice."

The Ministry of Oil approved programs to pay fuel refueling fees via electronic cards, in a step that is the first of its kind in Iraq. Ended 25 February  LINK

The Iraqi Government Takes A Number Of Decisions Regarding Airports, The Dollar, And General Managers

WEDNESDAY, 11-29-2023, KARAR AL-ASSADI   The Iraqi Council of Ministers took a number of decisions related to the operation of airports, loans, and dealing in the US dollar, the most prominent of which was the approval to separate the management of Iraqi airports from the Iraqi Civil Aviation Authority and link it to the Ministry of Transport, in addition to approving the dismissal and rotation of 12 general directors within the third round for evaluating general directors.

This came during its forty-eighth regular session, which was chaired by Iraqi Prime Minister Muhammad Shiaa Al-Sudani.

According to a statement issued by the Prime Minister’s Media Office, a copy of which was received by Noon News Agency, the session witnessed a discussion of developments in the general situation throughout the country, and a discussion of the progress of implementation of the government program, with its various files and service and political axes, in addition to deliberating on the topics on the agenda, and take the necessary decisions thereon.

In the field of administrative reform, the Council of Ministers approved the dismissal and rotation of (12) general directors, as part of the third phase of evaluating general directors in ministries and entities not affiliated with a ministry, by adopting the standards and mechanisms prepared by the committee formed in accordance with Diwani Order (23059), to evaluate the work and performance of general directors. .

Within the framework of financial and economic reform, the Council of Ministers approved the recommendations of the minutes of the meeting held in the Ministry of Planning regarding amending Paragraph No. (1) of Council of Ministers Resolution (23545 of 2023), according to the following:

1. Commitment that all state contracts executed inside Iraq be in Iraqi dinars, with the exception of:

a. Continuing contracts on external grants and loans and agreements continue to operate in accordance with the loan or grant agreement.

B. Contracts that will be concluded after the entry into force of this decision regarding grants, foreign loans, and agreements, the terms of the agreement will be adhered to, if it stipulates that the contracts be in a currency other than the Iraqi dinar, taking into account what was stated in the circular of the Ministry of Finance on April 27, 2023.

2. The beneficiary party may open a documentary credit for the purposes of importing materials from outside Iraq for the duly contracted project.

3. The beneficiary party may transfer the salaries and wages of foreign workers in the project, as well as companies’ dues and profits in foreign currency, in accordance with the controls of the Central Bank of Iraq.

The Council of Ministers approved the recommendation of the Ministerial Council for the Economy (230272 Q) as follows:

1. The Ministry of Finance’s contribution in the amount of one million dollars, to be paid in two equal installments during the years (2024 and 2025), and the method of payment should be in cash, and the date of the first payment is April 15, 2024.

2. The Ministry of Finance contributes to the (Special Program to Strengthen the Crisis Response Window CRW).

3. The Minister of Finance, in her capacity as Governor of Iraq in the International Development Bank Group, will complete the procedures for subscribing to the contribution, once the Council of Ministers decision is issued.

As a result of the conditions of water scarcity, and the need to confront torrents and floods and harvest water in the winter of the current year, the Council of Ministers approved the Ministry of Finance to allocate an amount of (25) billion dinars to the Ministry of Water Resources for the maintenance of minor irrigation projects, the maintenance of dams and dams, and the maintenance of drilling and fuel machinery.

The Council of Ministers also approved the recommendations of the Diwani Order Committee (65 of 2022) regarding establishing an appropriate tariff for irrigation fees for agricultural lands, according to what was stated in the minutes of the Ministry of Water Resources, dated October 15, 2023, to be implemented in the coming seasons, taking into account attention. The opinion of the Legal Department in the General Secretariat of the Council of Ministers, limited to the Ministries of Commerce and Agriculture, regarding paragraph (5) of the recommendations.

In light of the directives of the Prime Minister to support the agricultural sector and mitigate the effects of severe water scarcity, the Council of Ministers approved the following:

1. The Ministry of Planning included the Iraqi side’s share of (15%) of the loan amount regarding the project to use modern irrigation techniques (equipping center-pivot irrigation systems), and determined the amounts in the budget for next year/2024.

2. Approving (2.5%) commission for the Agricultural Equipment Company, one of the formations of the Ministry of Agriculture, on par with what is in effect in the project to use modern irrigation and mechanization techniques in the aforementioned ministry, based on the price policy controls for pricing goods imported from outside Iraq approved by the Council of Ministers/ Economic Affairs Committee, pursuant to its letter dated August 24, 2008.

3. The Ministry of Agriculture contracted with the Austrian company (BAUER), taking into consideration the opinion of the Legal Department in the General Secretariat of the Council of Ministers.

In the same vein, the Council of Ministers approved the recommendation of the Ministerial Council for the Economy (230321 Q) regarding contracting with the Ministry of Industry to equip modern irrigation systems, excluding the Ministry of Agriculture, according to the following:

1. Article (3/ Contracting Methods) contained in the Instructions for Implementing Government Contracts (2 of 2014).

2. Article (7/First) of Section Three of the instructions to facilitate the implementation of the Federal General Budget Law for the three years.

3. Granting the Ministry of Industry and Minerals the financial authority to negotiate prices, quantities and specifications with the Ministry of Agriculture, within the allocation ceiling of only (100) one hundred billion dinars.

4. Adding Support By 30%.

In the air transport and aviation sector, the Council of Ministers approved the following:

1. Separating the Iraqi Airports Administration from the Iraqi Civil Aviation Authority and linking it to the Ministry of Transport/Navigation Services Company, and the company will be renamed to become (The General Company for Airports and Air Navigation Management), based on the provisions of Article (47/Second)

From the Federal General Budget Law for the fiscal years (2023 - 2024 - 2025).

2. The General Company for Airports and Air Navigation shall take the necessary measures to amend its bylaws and founding statement. To be consistent with the company's missions.

3. The assets of all Iraqi airports, linked to the Civil Aviation Authority, shall be transferred to the General Company for Airports and Air Navigation, and the services of workers at those airports shall be transferred to this company.

4. The General Company for Airports and Air Navigation shall replace the Civil Aviation Authority in implementing all obligations, technical, legal and financial, concluded with the Authority, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

5. Forming a joint committee between the Ministry of Finance, the Ministry of Transport, the Council of Advisors, and the Civil Aviation Authority; To implement the provisions of the decision and its financial, legal and technical implications.

The Council also considered a number of topics on the session’s agenda, and took the following decisions regarding them:

First / Approval of the draft law for the Republic of Iraq’s ratification of the Protocols amending Articles (50/A) and (56) of the Convention on International Civil Aviation (Chicago Convention) of 1944, signed in Montreal 2016, which was prepared by the Council of State, and referred to the House of Representatives, based on To provisions of the Constitution.

Second: Approval of adding the (Mundhiriya border crossing) in Diyala Governorate, and the (Arar border crossing) in Anbar Governorate, to Paragraph (3) of Cabinet Resolution (23111 of 2023) for importing fertilizer.

Third: Approval of the draft law to compensate the properties of those affected by the defunct regime, which was reviewed by the Council of State, and referred to the House of Representatives, based on the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

Fourth: Approval of the draft securities law, which was audited by the State Council, and referring it to the House of Representatives, based on the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

Fifth: Approval to authorize the Minister of Transport to negotiate and sign a draft memorandum of understanding regarding the development path, between the Ministry of Transport in the Republic of Iraq and the Ministry of Transport and Infrastructure in the Republic of Turkey, based on the provisions of the Treaty Contracting Law (35 of 2015), taking into account the recommendation The Legal Department in the General Secretariat of the Council of Ministers.  https://non14.net/public/162257

Provoking Points to Ponder on HOPE:

People crushed by laws, have no hope but to evade power. If the laws are their enemies, they will be enemies to the law; and those who have must to hope and nothing to lose will always be dangerous. 
Edmund Burke

People who say that life is not worthwhile are really saying that they themselves have no personal goals which are worthwhile. Get yourself a goal worth working for. Better still, get yourself a project. Always have something ahead of you to 'look forward to' - to work for and hope for. -- Maxwell Maltz

 Beware how you take away hope from another human being. -- Oliver Wendell Holmes

"Tidbits From TNT" Wednesday Morning 11-29-2023

TNT:

CandyKisses:  Chinese adviser describes Iraq as "the largest" investment destination for his country

Economy News _ Baghdad

Chinese Embassy Counselor Xu Haifeng said on Wednesday that Iraq is the largest investment destination for his country.

Haifeng said in a press conference held today at the Chinese embassy in Baghdad, that Iraq is a country rich in energy represented by oil and gas, and it is natural that the field of energy is a relatively larger source of attraction for Chinese investments, and is in line with the industrial diversity in Iraq.

Iraq is able to attract increasing Chinese investment in new areas in the country, he said

CandyKisses:  Iraq is the third largest oil exporter to China in 2023

Economy News _ Baghdad

Chinese data showed on Wednesday that Iraq ranked third among the largest oil exporters to China in 2023.

A table seen by Al-Eqtisad News showed that "Iraq exported oil to China during the current year at a daily rate of 1.03 million barrels, thus ranking third as the largest exporter to China."

"Russia ranked first as the largest oil exporter to China, with an average export of 1.84 million barrels per day, followed by Saudi Arabia second, with 1.52 million barrels per day," the table showed.

He pointed out that "Malaysia came fourth at a rate of 960,000 barrels per day, and Malaysia's exports are mostly Iranian crude, and the UAE came fifth at a rate of 730,000 barrels per day."

According to the table, "Oman came sixth at a rate of 660,000 barrels per day, Brazil came seventh at a rate of 650,000 barrels per day, Angola eighth at a rate of 520,000 barrels, and Kuwait ninth at a rate of 430,000 barrels per day."

"The United States of America came tenth with a rate of 250,000 barrels per day, Qatar ranked 11th at a rate of 190,000 barrels, and Congo ranked 12th at a rate of 150,000 barrels per day," the table continued.

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Tishwash:  China and the UAE extend the validity of the currency swap agreement

The Chinese Central Bank said in a statement, on Tuesday, that China and the UAE today renewed the agreement to exchange the two local currencies for a period of five years, reaching 35 billion yuan ($4.89 billion), or the equivalent of 18 billion dirhams .

In another statement, the Central Bank of the United Arab Emirates and the People's Bank of China said they renewed the two countries' currency swap agreement and a memorandum of understanding to enhance technical cooperation in the field of developing digital currency for central banks .

The renewal of the two countries' currency swap agreement aims to develop financial and commercial cooperation between the United Arab Emirates and the People's Republic of China, by facilitating the provision of liquidity in local currency to financial markets to settle cross-border financial and commercial transactions in a more effective and efficient manner .

While the signed memorandum of understanding aims to develop the digital currency for central banks, enhance cooperation between the UAE Central Bank and the Digital Currency Institute of the People’s Bank of China in the field of financial technology, exchange information on best practices and regulations related to digital currencies, and support the implementation of joint initiatives and projects between the two parties, including the project Al-Jisr aims to develop a platform that allows the use of multiple digital currencies for central banks, with the aim of facilitating cross-border commercial payments and making them immediate and more secure .

The memorandum also includes cooperation in the field of training and developing the technical skills of specialists on both sides, and the exchange of bilateral visits to discuss issues of common interest   link

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Tishwash:  The black market dollar will collapse in a very short period - a government statement

Fadi Al-Shammari, political advisor to Prime Minister Muhammad Shiaa Al-Sudani, said that the exchange rate on the black market will collapse within a short period, stressing that the steps of the government and the central bank will raise the value of the dinar.

Al-Shammari in an interview with the journalist Ahmed Mulla Talal:

Trade with Iran requires $15-20 million per day, despite the sanctions imposed on it, and this is one of the pressures on the government.

There is a government approach and semi-agreement with the Iranian side to establish a platform regarding trade dealing between the two countries in other currencies.

There are also other “pressures”, represented by 20-25 million dollars related to the orders of small merchants.

The dinar is fluctuating now, but it will inevitably be stronger according to the paths and decisions taken now at the Central Bank.

We are going towards the strength of the dinar, and there will be a collapse of the exchange rate on the black market, and within a short period.  link

Mot: . Ya'll Have a Very ~~~~~

Mot:  .. THIS!!! -- Just Might What they Is Waiting for to Release Da RV!!! 

Goldilocks' Comments and Global Economic News Tuesday Evening 11-28-23

Goldilocks' Comments and Global Economic News Tuesday Evening 11-28-23

Good Evening Dinar Recaps,

Bonds increase demand for a country's national currency. It also increases its value.

Iraq is beginning to sell bonds to their people and investors to participate in the growth of their new economy supported by Gold and the Dinar.

Iraq is beginning to make moves that will make their countries' economy self-sustaining going forward utilizing only the dinar to make it happen.

© Goldilocks
Baby Pips Link
Search 4 Dinar Link

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Due to economic factors, gold and silver are moving into bullish trends to meet the needs of a changing Economy based on the Metal Market to build them up.

This, in turn, has created a sustainable bull market ahead for the overall economy. The needs and services of a growing economy checks all the boxes in sustainable development.

The new use of digital assets that are tokenized on the market will enhance this sustainable growth as well allowing the market and economy to be transformed into new opportunities and new ways of living.

At this time, we are witnessing tokenized assets that are supported by the metal markets being developed in several countries to support this new digital asset-based Trading/Payment system.

© Goldilocks 
Kitco Link

The Block Link
Medium Link

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The Fed, FDIC, and OCC extend the long-term debt comment period along with capital requirements for big Banks until January 16th, 2024.

These two banking requirements will begin their journey into new banking reforms at that time.

On January 16th, 2024 final rules of implementation will begin integrating as much gold as needed to support Banks with long-term debt and capital requirements to run it.

© Goldilocks

https://www.bankingdive.com/news/fed-fdic-occ-extend-long-term-debt-comment-period/700716/

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British investment managers get the green light for tokenised funds   Reuters Link

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UK investment funds get green light for tokenization      The Block Link

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Prices of New Houses Drop Further, -18% Year-over-Year, Sales Drop, High Inventories Rise Further, Supply Jumps      Wolf Street Link

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Jester is full of wisdom and humor. His knowledge in this journey and contacts are impressive. He has been popping in and out of Seeds of Wisdom telegram rooms sharing information and always in his Jester style. Enjoy him and respect him being here.

From Jester
Confessions of an Economic Hit Man (Recommended by Jester)

"You guys might find this interesting.... the history of how Iraq got where it is... he covers at the 22-minute mark... Saudi then Iraq... I bet you didn't know how it all really happened...

https://www.loc.gov/item/2021687765/

Is it interesting this is the Library of Congress? lol" Jester

https://www.loc.gov/item/2021687765/

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After a two-year investigation phase, the European Central Bank has moved forward to a preparation phase for the Digital Euro, which commenced on 1 November 2023 and will run initially for another two years.

The digital euro would be a digital version of physical bank notes and coins, and would be free of charge to individuals and businesses within the euro area for making everyday payments. It is envisaged as a complement to cash and not a replacement.  

https://businessplus.ie/industry-type/financial-services/ecb-fires-starting-gun-for-digital-euro/

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JUST IN: 🇺🇸 US taxpayers spend $451 billion per year to house and care for illegal migrants.

@WatcherGuru

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BREAKING: ELON MUSK RIPPLE PARTNERSHIP!

https://twitter.com/CryptoGeekNews/status/1729420804897530193?t=4bLxmXTu_hwZ9MHsDpIWOw&s=35

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US Money Supply (M2) in Greatest FREE-FALL Since 1930's.

https://youtu.be/7fmsyZYG5vE?feature=shared

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Iraq Economic News and Points to Ponder Tuesday Afternoon 11-28-23

Iraq Economic News and Points to Ponder Tuesday Afternoon 11-28-23

Tlm724 Administrator Bondlady’s Corner

Overthrowing A Network That Manipulated Dollar Exchange Rates In Baghdad

Economy News – Baghdad  The General Directorate of Intelligence and Security announced, on Tuesday, the overthrow of a network that manipulated the dollar exchange rates in Baghdad .

The directorate stated in a statement, seen by Al-Iqtisad News, that “it is part of a series of specific duties carried out by the General Directorate of Intelligence and Security at the Ministry of Defense, and after the availability of accurate information about a group of smuggling gangs and speculators at the price of the dollar, through their carrying out remittance operations and buying and selling the dollar, contrary to instructions.

” The Central Bank of Iraq, the detachments of the Baghdad Intelligence and Security Directorate, affiliated with the same directorate, boycotted the information, and after obtaining judicial approvals, they were able to raid one of the banking companies in the Karrada area in Baghdad. ”

She added, "The operation resulted in the arrest of five accused speculators in the dollar exchange rate, in addition to carrying out remittance operations contrary to official instructions," noting that "they were handed over to the legally competent authorities. "

Views 44 11/28/2023 - https://economy-news.net/content.php?id=37928

Dollar Prices Stabilize In Baghdad With The Stock Market Closed

Economy  Tuesday, November 28, 2023   Baghdad/National News Center   The prices of the US dollar stabilized against the Iraqi dinar, today, Tuesday, in the markets of the capital, Baghdad, with the stock market closed.

The National News Center correspondent said, “Dollar prices stabilized with the closure of the main Kifah and Harthiya stock exchanges in Baghdad, recording 157,600 dinars against 100 dollars, while dollar prices recorded this morning 157,500 dinars against 100 dollars.”

He added, “Selling prices in exchange shops in local markets in Baghdad stabilized, as the selling price reached 158,000 dinars for 100 dollars, while the purchase price reached 157,000 dinars for 100 dollars.”   https://nnciraq.com/238847/

Finance Announces The Launch Of The Second Issue Of Reconstruction Bonds Worth More Than One Trillion Dinars

Tuesday 28, November 2023 | Economical Number of readings: 487

Baghdad / NINA / The Ministry of Finance announced on Tuesday that it intends to make the second issue of reconstruction bonds available.

The ministry stated in a statement, “Given the strong demand for trading national bonds (reconstruction bonds) and the complete subscription of the first issue amount, the ministry, represented by the Public Debt Department and in cooperation with the Central Bank of Iraq, intends to make the second issue of reconstruction bonds available at a value of 1.5 trillion dinars.” Iraqi) and with the same mechanism previous to the first issue.

She added, "This measure comes in implementation of the paragraphs of the government program related to enhancing the development and investment aspects represented by the reconstruction and construction movement that our dear country is witnessing, in addition to developing financial and monetary policies and providing opportunities for citizens to contribute to the overall economic activity through investment in bonds," noting that "these bonds are issued with a guarantee."

 The Ministry of Finance, and it is possible to purchase the bond by submitting an application to one of the official banks approved and registered with the Central Bank.”

The Ministry called on "investors and citizens to take advantage of the offer and take the initiative to benefit from this investment opportunity," noting that "the size of this issuance will be limited."

She explained that “the second issuance of bonds worth one and a half trillion dinars is negotiable on the Iraqi Stock Exchange, and is available in two denominations: - The first at a price of

(500,000) dinars, with an annual interest of 6% for two years.

- The second at a price of 1,000,000 dinars, with an annual interest of 8 % for four years.

She pointed out that “purchasing and trading the bonds offered are exempt from taxes according to what is stated in the General Federal Budget Law No. 13 of 2023.”/End 11

https://ninanews.com/Website/News/Details?key=1092285

Zidane And Romanowski Discuss Joint Efforts To Achieve Security Stability In Iraq

Iraq  Tuesday, November 28, 2023 Baghdad/National News Center,  President of the Supreme Judicial Council, Judge Faiq Zaidan, discussed today, Tuesday, with the US Ambassador to Baghdad, Elena Romanowski, joint efforts to achieve security stability in Iraq.

A statement from his office received by the National News Center stated, “The President of the Supreme Judicial Council, Judge Faiq Zaidan, received today, Tuesday, the United States Ambassador to Iraq, Elena Romanowski.”

The statement continued, "The two sides discussed joint efforts to achieve security stability in Iraq and the role of the judiciary in imposing the rule of law."   https://nnciraq.com/238857/

The Iraqi Stock Exchange Closed Up By 0.01%

Market  Economy News – Baghdad  The Iraqi Stock Exchange closed today, Tuesday, up by 0.01%.

The session traded shares of 25 companies, with the number of shares traded reaching more than 307.9 million shares, with a value of more than 434.4 million dinars.

Al-Kindi Company for Vaccine Production shares rose by 6.45%, followed by Mosul Bank by 5%, and Al-Mansour Bank by 1.98%.  Shares of Al Taif Islamic Bank fell by 14.8%, followed by Gulf Insurance by 14.2%.  Views 29   Added 11/28/2023 - https://economy-news.net/content.php?id=37922

Oil Prices Rise, Ending A Series Of Losses

Energy  Economy News – Baghdad  Oil prices rose in early trading on Tuesday, ending a series of losses that lasted several sessions before a crucial OPEC+ meeting, and markets widely expect to see production cuts increased and extended amid fears that supply will continue to exceed demand.

Brent crude futures rose, by 0152 GMT, by 45 cents, equivalent to 0.6 percent, to $80.43 per barrel, on its way to ending a four-day losing streak. As for US West Texas Intermediate crude futures, they rose 43 cents, or 0.6 percent, to $75.28 per barrel, after declining for three consecutive sessions.

OPEC+, which includes the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, will hold an online ministerial meeting on November 30 to discuss production targets for 2024.

Four OPEC+ sources told Reuters on Friday that the group was close to reaching a compromise on production quotas, which could help reach consensus on increasing cuts.

The coalition moved last week to postpone the meeting with the aim of resolving differences over production targets for African producers, which led to a decline in oil prices.

Views 33 11/28/2023 https://economy-news.net/content.php?id=37906

Sudanese Advisor: Reforming The Economy Begins With The Government Banking Sector

Economy |11/28/2023  Mawazine News – Baghdad  The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Tuesday, that the economic policy in Iraq is moving towards implementing the principle of monetary sovereignty, and while he pointed out that the informal exchange market represents only 10% of trading, he stressed that it cannot be controlled The currency of a country other than the dinar with pricing within the country; Because monetary duality has harmed the economy, he pointed out at the same time that there is a tendency to diversify currencies for travel purposes and not be limited to the dollar.

Saleh told the official agency, “Economic policy in general and monetary policy in particular are moving towards a new principle called (monetary sovereignty), which considers the Iraqi dinar the only refuge for exchange, pricing, and coverage of internal transactions.”

He added, "It is not permissible for the currency of another country whose monetary policy is subject to pricing and trade exchange operations within the Iraqi economy, and the principle of monetary sovereignty starts from this level."

He continued, "The problem in Iraq is the existence of two exchange markets: the first is the regular one in which exchange takes place through the central bank's platforms, which prices the exchange rate at 1,320 dinars to the dollar as a stable and official price and defends monetary policy."

He explained, "The second market is irregular, representing 10% of the trading rate. It is an uncontrolled market controlled by speculators and adds noise to the Iraqi economy as a whole."

He pointed out, "There are two things: The first is commodity diversification, which the government has begun through baskets that support livelihoods, including the food basket that has achieved stability in the prices of materials, as well as the medicine basket, a construction basket, and another basket for reserve materials that the Ministry of Commerce will launch soon. These are financed at the official exchange rate and help... Stabilize prices and counteract the noise introduced by the informal market.”

He stressed that "dealing in the dollar (dollarization) and its pricing of the internal economic movement is what is most harmful to the economy, but there is no harm in covering external transactions exclusively and through official platforms."

Saleh pointed out, “On this basis, government policy and the policy of the Central Bank moved towards not relying on one country’s currency in foreign transactions and diversifying those currencies such as the Emirati dirham, the Turkish lira, the Chinese yuan, the British pound, and the euro, in addition to the dollar. This diversification reduces the dollarization of the economy and gives it great independence.” .

He stressed, "This diversification can be generalized at the level of selling foreign cash currencies for travel purposes and according to the currency of the country to which one is traveling. This will greatly reduce the demand for the dollar as a single currency in transactions, and the monetary and commodity diversification adds independence to the Iraqi economy."

Regarding Iraq’s steps to provide these currencies, Saleh said, “The monetary authority in Iraq is independent, and there is a wide consultation circle between it and the government, and this is happening for the first time to open banking arrangements with central banks in countries that have a commercial partnership with Iraq, such as the Emirates, Saudi Arabia, Turkey, and China, and it is possible to cooperate with these countries.”

Directly in their national currencies to achieve ease of conversion and exchange to finance trade and the movement of goods, supported by a stable exchange rate of 1,320 dinars, which allows for achieving stability and monetary sovereignty.”

He pointed out, "The demand for foreign currency is linked to the demand for goods and foreign transactions. It is dangerous to use the dollar to cover internal transactions, and monetary double-dealing has harmed Iraq. This must end, and it does not mean not providing foreign currency to citizens for the purposes of financing foreign trade or for the purposes of travel and tourism.

Therefore, there are steps." This is a major regulatory change aimed at achieving diversification through agreement with several countries with which transactions are conducted.”

He stressed, "The state has large commercial arms, and whenever it finds that there are needs affected by secondary market noise, the commercial apparatus intervenes to expand its dealings, supported by a stable exchange rate, as well as in cooperation with Iraqi merchants."

Regarding the government’s steps to strengthen the banking system, the Prime Minister’s advisor said, “There is a large team headed by the Prime Minister that directly supervises the reform of the banking system, and the largest system is the government system, whose assets dominate 85% of the assets of the banking system in Iraq, so the reform begins with government banks.

” We are working on this seriously, and during the next 6 months the results of this reform will appear, and there will also be work in parallel to reform the private banking system, and there is a strong movement and cooperation in this direction with the associations of private and Islamic banks.”

He stressed, "The Prime Minister's philosophy confirms that economic reform cannot be achieved without reforming the banking system, and therefore the priority begins with reforming the financial system."   https://www.mawazin.net/Details.aspx?jimare=238673

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

https://www.bondladyscorner.com/

Provoking Points to Ponder From Seat of The Soul By Gary Zukav

Intuition is perception beyond the physical senses that is meant to assist you -- It is that sensory system which operates without data from the five senses

What is behind our eyes holds more power that what is in front of them 

The decisions that you make and the actions that you take upon the Earth are the means by which you evolve

An angry personality will respond to the difficulties of it life with anger, and thereby bring into being the necessity of experiencing the results of anger --

A person who is angry, and yet reveres life, however -- will respond very differently to the difficulties of his or her life than a person who is angry and has no reverence for Life

Each personality draws to itself personalities with consciousness of like frequency, or like weakness -- therefore -- the world of an angry person is filled with angry people -- the world of a greedy person is filled with greedy people -- and a loving person lives in a world of loving people

Until you become aware of the effects of your anger -- you continue to be an angry person

Knowledge is power -- and for each level of knowledge -- you are held responsible for how you use it

Continued……. More to Follow

MilitiaMan Nov 27 YouTube

MilitiaMan Nov 27 YouTube

MilitiaMan and Crew:  11-27-2023

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=fY8JHSfjcrY

Goldilocks' Comments and Global Economic News Tuesday AM 11-28-23

Goldilocks' Comments and Global Economic News Tuesday  AM 11-28-23

Good Morning Dinar Recaps,

Sovereign Gold Bonds (SGBs): A Lucrative Long-Term Investment with Tax Advantages

The first-ever tranche of Sovereign Gold Bonds (SGBs) issued on November 30, 2015 (SGB 2015-16 Series I) will mature after eight years on November 30. Also, the Reserve Bank of India (RBI) opened a premature redemption window for another series – the SGB 2017-18 Series IX issued on November 27, 2017 – last week.

https://www.thehindubusinessline.com/portfolio/golden-gains-for-first-ever-sgb-tranche/article67570607.ece

👆  Goldilocks pointed to this article

~~~~~~~~~~

Foreigners no longer have an insatiable appetite for U.S. government debt. That’s bad news for Washington.

The U.S. Treasury market is in the midst of major supply and demand changes. The Federal Reserve is shedding its portfolio at a rate of about $60 billion a month.

https://www.wsj.com/finance/investing/where-have-all-the-foreign-buyers-gone-for-u-s-treasury-debt-3db75625

~~~~~~~~~~

"US dollar falls against most currencies as rate cut view weighs"

https://www.investing.com/news/economy/sterling-steady-dollar-wobbles-as-markets-brace-for-postthanksgiving-buzz-3243256

~~~~~~~~~~

Follow Goldilocks'  Roadmap

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Iraq Economic News and Points to Ponder Tuesday AM 11-28-23

Iraq Economic News and Points to Ponder Tuesday AM 11-28-23

Tlm724 Administrator Bondlady’s Corner

Adviser To The Prime Minister: The General Company For Carbon Economics Will Provide Significant Financial Funding To Iraq

 Economy     Yesterday, 18:05   Baghdad - IA  Advisor to the Prime Minister for Technical Affairs, Muhammad Sahib Al-Daraji, revealed the goal of forming a public company for carbon economics based on the direction of Prime Minister Muhammad Shiaa Al-Sudani, indicating that work in this field will provide significant financial funding for Iraq after implementing environmentally friendly projects.

Al-Daraji said to the Iraqi News Agency (INA):  “Iraq is a signatory to the Paris Climate Agreement, which stipulates that carbon emissions must be reduced around the world, and  in Iraq our carbon production is basically low, and  the agreement required countries with increased carbon emissions to buy their bonds from countries capable of starting.”

With projects that reduce carbon production, such as Iraq, given that the atmosphere around the world is the same and every country does its best to reduce emissions.”

 He added,  "Achieving this goal for Iraq requires implementing environmentally friendly projects, including using gas to generate electricity, as well as generating it through solar energy instead of diesel, as well as expanding tree planting and other projects, as they will reduce carbon emissions.

In return, this work can be priced in the form of bonds sold to countries."

“It is unable to reduce carbon emissions due to its existing projects and therefore buys these bonds from Iraq and other countries that contribute to reducing emissions around the world.”  He continued,

"A committee was formed under my leadership and began the first project at this level, which was extending a pipeline from a gas station to an electricity station.

 The project was implemented by a Canadian company at its own expense after contracting with the Ministry of Oil in exchange for buying carbon bonds from Iraq."  He stressed,

"On this basis, a proposal was presented to establish the General Company for Carbon Economics, affiliated with the Ministry of the Environment and carrying out the task of trading in carbon bonds.

 The Prime Minister approved it, and this company was formed. The work requires the implementation of more environmentally friendly projects, and Iraq's success in achieving the goals that we have indicated will save sums of money." Very large".    https://www.ina.iq/198122--.html

Including Digital Transformation And Fighting Corruption.. The Prime Minister Sets The Most Prominent Goals Of The Five-Year Plan

 Political     11-26-2023, Baghdad – conscious   Today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani set the most prominent goals of the five-year development plan, while

indicating work to complete the establishment of a council that supports the private sector.

The Prime Minister’s Media Office stated, in a statement received by the Iraqi News Agency (INA), that

“Prime Minister Muhammad Shiaa Al-Sudani sponsored the first conference of the five-year national development plan, which was held by the Ministry of Planning in cooperation with the United Nations Development Programme, and its work will continue for the period from 26-28.” This November.

In his speech during the conference, the Prime Minister stressed that “the scale of the challenges requires integrated plans aimed at achieving comprehensive renaissance in the medium and long term,” noting that

“Iraq has witnessed a developmental interruption since the 1980s, due to wars, sieges, and counter-terrorism operations.”  He pointed out that  "the government worked to put development back on track and launch its development plans, in addition to raising the pace of implementation of existing projects, which number more than 7,000 projects, and implementing new projects that represent a higher development and service value."

 He pointed out that "the government has paid attention to strategic projects that are consistent with the Sustainable Development Vision 2030, including infrastructure projects, clean energy, the development road, Al-Faw port, and others." 

  He stressed  "the necessity of providing the best conditions to achieve the goals of the five-year plan by the parties concerned with its implementation, including the governorates," noting that

"the government, at the beginning of its work, supported the governorates, through the Supreme Commission for Coordination between the Governorates, which succeeded in changing many paths, and its results appeared." Within one year of the government's life. 

He stated that "the new governorate councils will represent a qualitative addition to the work, so care was taken to create the conditions for the success of the elections, so that each governorate would have representatives, whose work would be integrated with the governor." 

He continued, "It is time for the new development plan to have economic dimensions based on the philosophy of economic diversification," noting that

"the government has laid the foundations for economic diversification, including the establishment of the Iraqi Fund for Development, which aims to create an integrated investment environment in the country."  He stated that  

 “initiatives have been launched that aim to change the pattern of the rentier economy, such as the (Riyada) initiative, which helps young people invest their ideas in productive sectors,” noting that

“the tripartite budget included a special clause to support the private sector by granting it sovereign guarantees, which will contribute to encouraging the business and investment environment.” In the country". 

He stressed "working hard to support the private sector, and completing the formation of its development council, as it represents the primary partner of the government sector," pointing out that

"success in achieving economic diversification,

providing a fertile investment environment, and

strongly introducing the private sector into the development scene,

the reality of the situation will change.".  He stressed, "continuing to build a network of economic relations between Iraq and the countries of the world, built on the foundations of mutual interests," noting that

"the government worked to reform the banking and financial sector, by automating all economic and service activities and activities."

 He pointed out,  “starting to automate work at border crossings, and establishing the shift towards the use of electronic payment in all market and commercial transactions,” pointing out “the

need for the five-year development plan to adopt digital transformation, by adopting electronic systems in all aspects of life.”

He continued, "We need sound development data and indicators in order to make development plans successful, and this requires conducting an accurate and comprehensive census of the population, their places of residence, and their work environments," explaining that

"the population census was decided to be conducted next year, 2024, and we were directed to provide all the financial and logistical requirements to make it successful." 

He stated that "the five-year development plan should create space to achieve good governance, and establish appropriate mechanisms to fight corruption and dry up its sources wherever they may be," pointing out that

"the existence of a five-year, verifiable development plan indicates a state of security, political, social and economic stability, and must be achieved."

The results of development plans should reflect positively on vulnerable segments of society, by providing housing, education, and health, improving income levels, and reducing the effects of climate change.” 

He stated that  "the government worked, during its first year, to reduce poverty and unemployment rates, through the social protection network, improving the food basket, paying attention to health and education projects, services and infrastructure, working to not inherit poverty among poor families, and establishing a fund to support the poorest areas."".    https://www.ina.iq/198039--.html

United Nations: We Seek Cooperation With Iraq To Make The Financial Future A Success 

Economy     Yesterday, Baghdad - IA - Wissam Al-Mulla  The Resident Representative of the United Nations Development Program in Iraq, Oki Lootsma, confirmed today, Monday, the pursuit of cooperation with Iraq to make the financial future a success.

Lootsma said in his speech during the conference launching the Financial Investigation Procedures Guide, which was attended by the Iraqi News Agency (INA) correspondent:

“The United Nations Development Program is honored to cooperate with Iraq to enhance financial integrity and the success of the financial future in Iraq, as well as achieving long-term continuity.

We declare the fight against organized crime.” And combating money laundering, which is very important.”  He added,

"The process of drafting the guide highlights a large cooperative program for the 11 institutions that guarantee the judiciary, integrity, the Financial Supervision Bureau, offices for combating organized crime, and the relevant institutions, as well as the institution of this work."

He continued:  "We are pleased with the great cooperation that will lead to important results.

There are increasing applications through cooperation, exchanging information, supporting investigations, and recovering the required funds, and this enhances understanding of financial crimes,"

 stressing the commitment to supporting the work teams through the great expertise that will continue after the launch of the guide.   https://www.ina.iq/198119--.html

Tomorrow.. A High-Ranking Iraqi Delegation Will Leave For Türkiye To Discuss Three Files

 Economy     11-26-2023, Baghdad – IA   A government source said on Sunday that a high-ranking Iraqi delegation will leave tomorrow, Monday, for Turkey to discuss three files.

The source told the Iraqi News Agency (INA):

“Based on the Prime Minister’s directives regarding organizing trade exchange between Iraq and Turkey and stabilizing it through approved legal and banking methods and means, and in continuation of the first round of discussions that took place in Baghdad on Wednesday 11/15/2023, he will leave at dawn tomorrow, Monday.” 11/27/2023

A delegation including the financial advisor to the Prime Minister, three officials of the Central Bank of Iraq, and twelve directors of Iraqi banks to hold discussions with a number of Turkish financial and banking institutions, including the Central Bank of Turkey and the Association of Banks, in addition to the Turkish Banking Regulation and Supervision Agency.

He stated that the discussions will focus on a number of topics, including:

1- Discussing with Turkish banks for the purpose of opening correspondent accounts for Iraqi banks in various foreign currencies to be used in account settlements between the two countries and resolving all obstacles facing the two parties in implementing this process.

2- Discussing facilitating the use of credit cards for Iraqi residents and tourists in the Turkish banking market.

3- Discussing the organization of trade exchange between the two countries through the Turkish and Iraqi customs authorities matching the goods supplied to Iraq with the financial transfer documents through the foreign currency buying and selling window, in a way that protects the interests and stability of trade between the two countries.

The source said: “It is hoped that the above discussions will result in the signing of a number of agreements regarding banking arrangements between the two countries, which will contribute to containing the demand for the cash dollar through the irregular market for foreign currencies.”  https://www.ina.iq/198070--.html

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

https://www.bondladyscorner.com/

Provoking Points to Ponder  From Seat of The Soul By Gary Zukav

You create your  reality with your intentions 

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

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

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

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

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

"Tidbits From TNT" Tuesday Morning 11-28-2023

 TNT:

CandyKisses:  Last month. Chinese companies acquire the largest share of Iraq's oil

The Iraqi Oil Marketing Company (SOMO) announced on Tuesday that Chinese oil companies were the most numerous to buy Iraqi oil during the month of October.

According to "SOMO" in a statistic published on its official website and seen by Shafaq News Agency, that "Chinese companies were the most numerous among other international companies in the purchase of Iraqi oil and by 9 companies out of 38 companies that bought oil during the month of October."

She added that "Indian companies came second with 7 companies, then South Korean companies came third with 4 companies, American companies came fourth with 3 companies, Greek, Turkish and Italian companies came with two companies each, while the rest were distributed among Emirati, Malaysian, (Dutch-British), Spanish, Egyptian, French, Jordanian, Kuwaiti and Turkish companies with one company each."

Sumo indicated that it "relies in its sale of Iraqi oil on the main criteria for contracting with major and medium international oil companies, independent and vertically integrated government," noting that "the most prominent international companies that bought Iraqi oil are the Indian company "Andlan Oil, Korean Kokaz, American Exxon Mobil, Italian Eni and British Dutch Shell."

CandyKisses:  Toppling a network manipulating dollar exchange rates in Baghdad

Baghdad Today – Baghdad

Today, Tuesday (November 28, 2023), the General Directorate of Intelligence and Security announced the overthrow of a network that manipulates dollar exchange rates in the capital, Baghdad.

According to a statement of the Directorate received by "Baghdad Today", that "after the availability of accurate information about the establishment of a group of smuggling gangs and speculators at the price of the dollar, through their remittances and the sale and purchase of dollars Contrary to the instructions of the Central Bank of Iraq, the detachments of the Directorate of Intelligence and Security of Baghdad affiliated to the same directorate, boycotted the information and obtained judicial approvals."

The statement added that "the detachments were able to raid one of the exchange companies in the Karrada area of Baghdad and arrest (5) accused of manipulating the exchange rates of the dollar."

"They carried out remittance operations contrary to official instructions, and were handed over to the competent authorities," he said.

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

CandyKisses:  The Council of Ministers issues a special decision on the import of gold and precious metals

Economy News-Baghdad

The Council of Ministers issued a special decision on the import of gold and precious metals, which facilitates procedures and ensures their safety.
The General Secretariat of the Council of Ministers stated in a document that "the Council of Ministers decided during the forty-seventh regular session held on 21/11/2023, to approve the minutes of the meeting held at the Central Bank of Iraq regarding the amendment of the Council of Ministers Resolution (335 of 2017) on the import of gold and precious metals, which facilitates procedures and ensures their safety according to the following:

 The importer of gold must be an officially registered company in the Federal Companies Registration Department affiliated to the Federal

Ministry of Commerce 2- The entry of imported gold shall be through air freight or the arrival halls of travelers at the airport and pointed out that "the fees and fees for importing gold shall be as follows: Raw gold or bullion:

 The examination fees for the quantities of imported gold shall be 50 thousand dinars per kilogram to be collected from the Central Organization for Standardization and Quality Control.
- 100 thousand dinars for each customs duties for each kilogram of gold jewelry (gold jeweled) for the purposes of interpolation of gold, forged  thousand dinars customs fees for each kilogram 50 thousand dinars fees for examining jewellery

She pointed out that "this decision will be implemented starting from 1/12/2023, with the exception of matching the harmonized customs code and the legitimacy and originality of the external transfer, so the General Authority of Customs is authorized to issue the effective date of conformity and coordination controls between it and the Central Bank of Iraq."

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

Tishwash:  The continuation of “insults to the dollar” will force us to undertake a mass migration. Representative of the Association of Exchange Companies

The representative of the Association of Exchange Companies, Dhia Al-Taie, said that the lack of coordination between the security forces and the Central Bank, and the continued exposure of companies to “repeated insults” will lead to a mass exodus of capital from Iraq, stressing that the work of these companies is still completely halted.

 Al-Taie in an interview with journalist Adnan Al-Taie:

Exchange companies operate internally, and they number 2,100 companies. If 10% of them are abusive, that does not mean that all of them are abusive, and it cannot be said that they are the cause of the dollar crisis in Iraq.

The Fed's report was clear and did not identify exchange companies among the offending parties.

We obtain the dollar in two ways, the first is the traveler’s dollar, and there is a 100% secure platform and a webcam that monitors the process, so it cannot be tampered with. The second way is the dollar circulating in the market, which prevented us from dealing with it currently, so our work stopped completely.

More than 95% of exchange companies have real capital and their owner works directly, and these companies obtain dollars from banks as an intermediary.

We have an A-class exchange company in Amara, with a capital of 5 billion, and a share of 700 thousand dollars from the Central Bank. I obtained it with an official letter and a sequence of numbers. When the owner of the company passed control in Kut, they stopped him, arrested him, and threw him in prison despite all the official papers he possessed. Then He was released on bail after 3 days, but the amount is still withheld at the center, which means that the official and unofficial dollars are treated in the same way, so how will we work as exchange companies?

A ticket, a visa, and a passport, and you will get the travelers dollar from any exchange company in Baghdad, but despite that, there is a terrible and frightening hatred against the exchange companies.

We appeal to the need for there to be coordination between the Central Bank and the security forces so that they do not implement the bank’s instructions, as well as the activation of the team approved by the Prime Minister.

If exchange companies continue to be subjected to the same humiliation, this will lead to a mass exodus of capital.   link 

Mot: . WHAT!!! -- UR Kidding!!! – siiggghhhhhhh

Mot:  ...... LOL - This Weeeek it is!!!! 

Goldilocks' Comments and Global Economic News Monday Evening 11-27-23

 Goldilocks' Comments and Global Economic News Monday Evening 11-27-23

Good Evening Dinar Recaps,

"Al-Kazimi added that “we expect that the new year will witness a significant decline in dollar prices with the appreciation of the value of the Iraqi dinar, especially with the presence of government decisions and directives to address all the causes of the dollar crisis, and we expect that economic and financial stability will be strongly present at the beginning of next year.”

We have two things going on in Iraq that are currently raising my eyebrows and causing dimples to form on each side of my cheeks from smiling.  Iraq is currently in process of reducing the gap disparity between the Dollar and the Iraqi Dinar. This is expected to be completed by the end of the year.

Closing the disparity between the Dollar and the Dinar will help move Iraq's currency into a real value and financial stability capable of allowing them to do cross-border International trades. This is taking place through the UPI or Unified Payments Interface on India's platform early January 2024.

Al Kazimi went on to say that Iraq expects to witness the decline of the Dollar's value as the Iraqi Dinar begins to increase its value.  

Just be aware, this is a process and change still may come slowly until Protocol 20 digitizes and upgrades all our assets including currencies onto the new QFS.

This upgrade will allow Quantum Technologies to network and connect with one another producing real values upon trades beginning to happen with local currencies around the world instead of the dollar.

This is why it is important to "watch the water" as exchange rates are interfaced onto the new digital mechanisms utilized in shipping ports.

Protocol 20 is still set for January the 30th, 2024.

© Goldilocks
Search 4 Dinar Link 1
Search 4 Dinar Link 2

~~~~~~~~~~

Circle, the company behind the second-largest dollar-pegged cryptocurrency by market capitalization, has announced the launch of a new token standard for their stablecoin.

The standard is called the Bridged USDC Standard, and it introduces a new process for deploying a bridged form of USDC on Ethereum Virtual Machine (EVM) blockchains.

Circle claims that the standard for bridged USDC is permissionless, equitable, standardized, extensible, secure, and audited.

https://cryptogazette.com/circle-launched-new-bridged-usdc-standard/

~~~~~~~~~~

Jeremy Allaire, Circle’s Founder and Chief Executive Officer, has announced that CCTP will soon go live on Noble. CCTP, an acronym for Cross-Chain Transfer Protocol, has chosen the asset-issuance chain on Cosmos to pave the way for getting natively wired into dYdX on their app chain on Cosmos.

Members of the selected network can directly move their USDC into dYdX. While Solana is expected to join the list soon, members of Avalanche, Ethereum, Base, Arbitrum, Cosmos, and Optimism are not required to bridge or wrap their USDC holdings before moving them across dYdX. This makes the process efficient, economical, and safer.

dYdX has been chosen because it is a bigger protocol capable of setting a new benchmark when the market pendulums between decentralized exchange and centralized exchange. Transparency and risk management as a DeFi protocol are at the core of its operation.

CCTP going live on Noble marks the step toward unlocking the next wave of on-chain usage. This is poised to become a more user-friendly environment as the value and development progress. Interestingly, a lot of elements are merging for this innovation. This includes combining wallets, bridges, aggregators, and messaging layers. Not to forget, several blockchain networks are joining hands with CCTP and Noble to ensure the technical and user experience innovation continues across the blockchain networks.

Jeremy has said that Circle is looking to accelerate mass adoption in the next 2 years, that is, in 2024/2025. 

https://www.coinnewsspan.com/cctp-to-go-live-on-noble/

~~~~~~~~~~

Bullion Banks Worried As Gold Breaks Above $2,000 And Silver Approaches $25   

King World News

~~~~~~~~~~

Will BRICS currency be backed by crypto or gold? 

The BRICS nations are considering introducing a new currency at their 2024 summit, with debate over whether it will be a digital asset or gold-backed.

The choice between a gold-backed currency and a digital one using blockchain technology reflects the bloc’s ambition to challenge traditional financial systems.

A digital BRICS currency could modernize cross-border transactions, while a gold-backed option offers stability and reliability amid global economic uncertainty.

https://www.cryptopolitan.com/will-brics-currency-be-backed-by-crypto-gold/

~~~~~~~~~~

Bonds build liquidity for a Government. Are we running out?

© Goldilocks
WSJ Link

~~~~~~~~~~

64 US Bank Branches File to Shut Down in a Single Week—Are You Affected? | NTD
https://www.ntd.com/64-us-bank-branches-file-to-shut-down-in-a-single-week-are-you-affected_956756.html

~~~~~~~~~~

"SBI Holdings, Inc. located in Tokyo has officially entered into a Memorandum of Understanding (MOU) with Circle Internet Financial, which has headquarters in Boston, Massachusetts. This collaboration aims to facilitate the circulation of USDC stablecoins, establish a banking relationship, and promote the use of Circle's Web3 Services within Japan."

This is a very important article in that we are being told that boosting banking relations using USDC as a Stablecoin is underway.

This will begin solidifying the USDC as a Stablecoin and as a viable digital banking asset to be used in the trading of assets between Banks in Japan and the US and beyond.

Institution money tends to support projects with billions and trillions of dollars when it is ready to move out into an International platform.

© Goldilocks

https://cointelegraph.com/news/circle-sbi-holdings-partner-mou-boost-usdc-circulation-japan

~~~~~~~~~~

Follow Goldilocks'  Roadmap

Follow Goldilocks'  Timeline

Goldilocks'  Telegram Room

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Subscribe to  Newsletter

Thank you Dinar Recaps  www.DinarRecaps.com

Iraqi News Highlights and Points to Ponder Monday AM 11-27-23

Iraqi News Highlights and Points to Ponder Monday AM 11-27-23

Adviser To The Prime Minister: The Electronic Payment System Will Raise The Value Of The Dinar Against The Dollar

Time: 11/27/2023  Read: 2,158 times  {Economic: Al-Furat News} Mazhar Muhammad Saleh, financial advisor to Prime Minister Muhammad Shiaa al-Sudani, said that the electronic payment system will preserve the monetary supply of the Iraqi dinar and will raise its value against the dollar in later stages.

Saleh explained, in a press statement, that “the cash payments system is linked to a high degree of certainty whenever payments are made by electronic or digital means, which provides an accurate liquidity indicator for the banking system and reduces the degree of ambiguity and uncertainty in banking liquidity. The payments system also provides sufficient information.” The flow of cash into the banking system, the clarity of the amounts of paid and accumulated amounts, and a statement of their actual balances at all times during the banking working day.

He pointed out, "In light of monetary systems that rely on direct cash payments, bank liquidity management policies surround themselves with additional hedges of disrupted liquidity in order to anticipate liquidity risks, which disrupts part of banking and credit operations in particular."

He stated, “As electronic payments increase as a behavior in daily dealings, the management of the cash mass and its flow in the banking system will be subject to the rule of clarity in cash management, and then directing bank credit towards profitable areas, which provides efficient use of the cash mass, in addition to reducing the percentage of cash leakages outside Banks will decline, which means that a structural change in the behavior of cash demand among individuals and banks will lead to a decline, due to dealing with electronic payment systems that are linked to bank accounts.”

Saleh added, “Thus, the development of the payments environment and its transition from the direct cash environment or cash payment in payment and receipt operations to the use of electronic payment will, in all circumstances, restrict all local cash payment in currencies (other than the dinar) and spare the economy and distance its transactions from cash payment in foreign currency, because systems Digital payments do not allow transactions in the local economy in anything other than the national currency.”   LINK

Experts: Electronic payment raises the value of the dinar

The first  11/27/2023  Baghdad: Hoda Al-Azzawi  Experts and specialists in financial and economic affairs believed that the electronic payment system would preserve the monetary supply of the Iraqi dinar and raise its value against the dollar in later stages.

The Prime Minister’s Advisor for Economic and Financial Affairs, Dr. Mazhar Muhammad Saleh, explained to “Al-Sabah” that “the cash payments system is linked to a high degree of certainty whenever payments are made by electronic or digital means, which provides an accurate liquidity indicator for the banking system and reduces the degree of ambiguity.” And the uncertainty in banking liquidity.

The payments system also provides sufficient information about the flow of the cash mass into the banking system, and the amounts of paid and accumulated amounts are clear and their actual balances are stated at all times during the banking working day.”

He pointed out that "in light of monetary systems that rely on direct cash payments, bank liquidity management policies surround themselves with additional hedges of disrupted liquidity in order to anticipate liquidity risks, which disrupts part of banking operations and credit in particular," explaining that "as payments increase...

Electronic behavior as a behavior in daily dealings, the management of the cash mass and its flow in the banking system will be subject to the rule of clarity in cash management, and then direct bank credit towards profitable areas, which will provide efficient use of the cash mass, in addition to that the percentage of cash leakages outside the banks will decrease, which means that A structural change in the behavior of cash demand among individuals and banks will trend toward decline, due to dealing with electronic payment systems that are linked to bank accounts.”

He added, “Thus, the development of the payments environment and its transition from a direct cash environment or cash payment in payment and receipt operations to the use of electronic payment will, in all circumstances, restrict all local cash payment in currencies (other than the dinar) and spare the economy and distance its transactions from cash payment in foreign currency, because systems Digital payments do not allow transactions in the local economy in anything other than the national currency,” he explained, explaining that “in Milan, the economy will move its transaction payments to the (digital dinar) instead of the (cash dollar), whose transactions in internal settlements are legally rejected completely.”

For his part, the head of the “Regional Center for Studies”, Ali Al-Sahib, indicated in an interview with “Al-Sabah” that “electronic collection or electronic payment is a step that the government adopted not long ago, but it has not been implemented yet, and the Iraqi citizen in general lacks a culture.” Electronic payment, even though most countries in the world, including neighboring countries, have been dealing with it for years.”

He explained, "Despite this, if this practice is applied in Iraq, it will have both negative and positive paths. As for the positive, it is the abolition of cash and the preservation of storage, as well as preventing the banknote from being damaged and possibly stolen or lost, as well as reducing cases of corruption in gas stations and elsewhere, not to mention waste." The time in the process of receiving the money, disbursing it, etc.

He added, “As for the negatives of the process - they lie in the citizen’s ignorance and unwillingness to deal - in addition to the fees for obtaining the card and other negatives.”

He added, "It is remarkable that Iraq consumes approximately (30) million liters of vehicle fuel daily. These are very large quantities and require government effort to spread the culture of public awareness to enter this new stage," indicating that "forcing the citizen to use electronic payment may confuse The daily scene and reality raises complaints and complaints from citizens, and the best solution is for the state to give the citizen the choice to follow one of the two methods until he gets used to electronic payment.”    https://alsabaah.iq/87963-.html

One Of Them Is Borne By The Government. A Parliamentarian Identifies Two Reasons For Delaying The Release Of The 2023 Budget

Information/private..  Today, Tuesday, Member of Parliament, Jassem Al-Atwani, identified the reasons for delaying the release of financial allocations for the 2023 budget, while holding the government responsible for one of the reasons.

Al-Atwani said, in an interview with the Maalouma Agency, that “the defect in delaying the disbursement of financial allocations for the 2023 budget is clear and is due to two main reasons, one of which is borne by the federal government.”

He added, "The government followed suit after approving the budget, as it began specifying instructions and controls, considering that budget instructions must accompany its launch, and this is what happened in previous financial budgets."

The member of the House of Representatives explained, “The other reason is related to the lack of financial abundance, especially since the budget depends primarily on financial revenues, given that the government does not depend on cash reserves, but rather on imports that can be obtained from oil sales and others.”

Al-Atwani stated, “There is a clear delay in the flow of these funds, which in one way or another caused the release of financial allocations for the 2023 budget.”

A member of the Parliamentary Economy and Investment Committee, MP Muhammad Al-Zayadi, had previously criticized the Ministry of Finance for obstructing the launch of investment financial allocations in the tripartite budget for the governorates, indicating that this was reflected negatively by obstructing the completion of projects.

The House of Representatives approved, on Monday, June 12, 2023, after long deliberations between the government and parliamentarians that extended for months, the financial budget law for the three years 2023, 2024, and 2025, as the budget approved more expenditures and investments as a direct result of the increase in oil revenues, which constitute 90% of the country’s revenues. LINK

Iraq Refuses To Establish Free Trade With Iran

2023-11-27 03:53    Shafaq News/ Iran's Special Trade Representative in Iraq, Farzad Belten, revealed on Monday an Iraqi refusal to establish free trade with the Iranian side.

Belten said in statements reported by Mehr News Agency that the trade capacity between Iran and Iraq amounts to 20 billion dollars, explaining that due to the large gap between exports and imports with Iraq, this country does not want to establish free trade.

Regarding the trade situation between Iran and Iraq, he explained that during the first six months of this year, about 4.5 billion dollars of goods were exported from Iran to Iraq, and about 150 million dollars of goods were imported to Iran from the aforementioned country.

Belten, the former Director General of West Asia for the Iranian Trade Development Organization, added that the trade capacity of the two countries confirms the possibility of increasing trade relations between the two countries, including the export of goods, services, electricity and gas, at about $20 billion.

Belten also said that there is a possibility of establishing free trade or preferential tariffs with Iraq, considering that trade between Iran and Iraq is one-way and mainly includes exports from Iran to Iraq.

He continued, despite various endeavors over the past years, the Iraqi government does not wish to negotiate and sign an agreement in any of the aforementioned areas.

He added, "For Belten, Iran's main competitors in Iraqi markets are China and Turkey."

The Iranian Special Trade Representative in Iraq stated, “There are problems related to trade infrastructure such as one-way transportation of goods, clearance of goods at border crossings, standards, etc., and if they are resolved, it will be possible to develop trade relations between the two countries.”   LINK

Provoking Points To Ponder on HOPE:

People crushed by laws, have no hope but to evade power. If the laws are their enemies, they will be enemies to the law; and those who have must to hope and nothing to lose will always be dangerous. Edmund Burke

You cannot hope to build a better world without improving the individuals. To that end, each of us must work for our own improvement and, at the same time, share a general responsibility for all humanity, our particular duty being to aid those to whom we think we can be most useful. -- Marie Curie

To hope means to be ready at every moment for that which is not yet born, and yet not become desperate if there is no birth in our lifetime.  -- Erich Fromm

If we all worked on the assumption that what is accepted as true is really true, there would be little hope of advance.  -- Orville Wright

You believe that easily which you hope for earnestly -- Edward Bulwer-Lytton

In all things it is better to hope than Despair – Goethe

You cannot put a great hope into a small soul -- J L Jones

The future is lighted for us with the radiant colours of hope. Strife and sorrow shall disappear. Peace and love shall reign supreme -- John Fiske

All the Saints of God are there to protect me, to sustain me and to carry me. And your prayers, my dear friends, your indulgence, your love, your faith and your hope accompany me. -- Pope Benedict XVI