Goldilocks' Comments and Global Economic News Wednesday Evening 11-29-23

 Goldilocks' Comments and Global Economic News Wednesday Evening 11-29-23

Good evening Dinar Recaps,

Are you noticing all of the collaboration taking place between Quantum Technologies in the articles this morning?

Many of the major corporations around the world have already begun the process of interfacing their networks together on the QFS.  As Protocol 20 continues to test its system with these new technologies connecting to one another, we will witness an explosion of new services available to us on January 30th, 2024 providing the vote to move forward with Protocol 20 is agreed upon.

© Goldilocks

Testnet Announcement and Scheduled Maintenance:

Test Network (Testnet) Reset on Monday, December 18th 2023, at 5:00pm UTC (11:00am local time)
A reset of the Stellar Test Network (Testnet) will clear all data from Testnet Horizon and Stellar Core instances. Please be prepared to recreate any Testnet data you need, including accounts, assets, offers, and liquidity pools. See testnet best practices for more information. https://dashboard.stellar.org/

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The Securities, Commodities, and Derivatives Exchange (SECDEX) has been selected by the Seychelles Government to showcase in the Blue Zone at COP28 UAE (30 November - 12 December).

Seychelles-based SECDEX is a regulated financial market infrastructure firm focusing on securities, debt, spot commodities and derivatives contracts in traditional and digital tokenised forms.

In collaboration with sustainability firm Island Carbon Consult, SECDEX will host an event in the Seychelles Pavilion on 4 December.   AssetServicingTimes Link

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Black Friday for US retailers did not go well

For the retailers and brands that count on Black Friday the most, the day was a dud.

Not a good sign for these chains and for the US economy, which needs consumers to keep increasing their spending to avoid a recession. It also raises the risk that the rest of the holiday shopping season will disappoint, forcing retailers to offer more discounts to make up for lost sales.

According to a Bloomberg Second Measure analysis of transaction data, the median decline in Black Friday sales was 4% for a group of 40 companies that derive a higher percentage of their sales for the year from holiday shopping than their peers.

Follow us on Telegram and Twitter 

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Tokenbridge launches services suite

Token aggregator and distribution platform Tokenbridge has launched a suite of services for fund managers, financial advisors and their clients.

Through its token distribution system, Tokenbridge aims to refine operational processes, reducing friction, inefficiencies and risk.

A fully integrated CBDC or Stablecoin cash management solution is available through the platform.
AssetServicingTimes Link

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A joint project by central banks has shown that it's possible to maintain privacy when making payments with national digital currencies.

Project Tourbillon, by the Bank for International Settlements (BIS) Innovation Hub in Switzerland explores payer anonymity with central bank digital currencies (CBDC). A final report on the project published Wednesday shows the central banks looked at payment options where users don't need to disclose personal information to anyone, including the merchant. However, the merchant's identity would be disclosed to their bank when the payment occurs to help reduce tax evasion or illicit payments.

As jurisdictions around the world consider issuing digital versions of sovereign currencies, privacy has emerged as a chief public concern.

https://www.coindesk.com/policy/2023/11/29/central-bank-project-shows-cbdc-payments-can-be-private/

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Bank Announcement:

Bill Comes Due for Large Bank Failures as FDIC Adopts Special Assessment for IDIs With Assets in Excess of $5 Billion

The Federal Deposit Insurance Corporation (the “FDIC”) has issued a final rule that imposes a special assessment on insured depository institutions (“IDIs”) to recover losses realized by the Deposit Insurance Fund (the “DIF”) when Silicon Valley Bank (“SVB”) and Signature Bank (“Signature”) were closed by the regulators earlier this year.

The special assessment is mandated under the Federal Deposit Insurance Act as a means to recover losses to the DIF when the FDIC exercises its systemic risk authority to provide full deposit protection for otherwise uninsured depositors of a failed bank as was the case with the failures of SVB and Signature.

The statute provides the FDIC with broad authority to determine the design and timeframe for the special assessment and to consider a variety of factors including economic conditions and possible effects on the industry. The special assessment is in addition to the regular assessments that IDIs make to secure deposit insurance for their customers.

https://www.jdsupra.com/legalnews/bill-comes-due-for-large-bank-failures-4130486/

BUCKLE UP: Silver & Gold Are Now In Blastoff Mode Along With The Mining Stocks!  

King World News Link

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Project Tourbillon: exploring privacy, security and scalability for CBDCs
https://www.bis.org/publ/othp80.htm

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Standard Chartered becomes the first foreign bank to join China's CBDC pilot testing
Forbes India Link

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BlackRock and JPMorgan have acquired more than 7.5 million XRP, coinciding with the upcoming listing   TheCryptoAlert Link

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Commercial mortgage delinquencies jump at banks       National Mortgage News

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The end of this month marks the first anniversary of the release of the Canadian Indo-Pacific Strategy (CIPS).

It represents a once-in-a-generation strategic shift in Canada’s foreign policy to preserve a rules-based order with like-minded countries like Japan, the U.S., South Korea and political entities such as Taiwan.

Japan and Canada's other friends have a deep interest in CIPS being successfully implemented to contribute to peace and stability in the Indo-Pacific region. They see Canada as a supplier of energy and critical minerals, a diplomatic convener, a country committed to the rule-of-law globally and one that eschews the Machiavellian, might-is-right approach to international affairs.

https://www.japantimes.co.jp/commentary/2023/11/28/japan/canada-indo-pacific-strategy/

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Thank you  Dinar Recaps   www.DinarRecaps.com

Iraq Economic News and Points to Ponder Wednesday Afternoon 11-29-23

Iraq Economic News and Points to Ponder Wednesday Afternoon 11-29-23

Tlm724 Administrator Bondlady’s Corner

The Dinar Will Recover.. Iraq Is Approaching An “Imminent End” To The Dollar Crisis Before The End Of 2023

 Economy |11-27-2023,  Baghdad today – Baghdad  Today, Monday (November 27, 2023), the Parliamentary Finance Committee commented on the possibility of the Iraqi government succeeding in controlling the dollar by the end of the current year.

Committee member Moeen Al-Kazemi told Baghdad Al-Youm,  “The government and the central bank are working to end the dollar crisis once and for all, and  there is great progress in this file and  there is control over the market, as well as a gradual decline in exchange rates in the parallel market.”

 Al-Kadhimi added,  "We expect that the new year will witness a significant decline in dollar prices with the rise in 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."

Earlier, a senior official in the Central Bank of Iraq told Reuters that the country will ban cash withdrawals and transactions in dollars as of January 1, 2024, in the latest effort to limit the misuse of the country’s hard currency reserves in financial crimes and evade US sanctions on Iran. .

Mazen Ahmed, Director General of the Investment and Transfer Department at the Central Bank of Iraq, told Reuters that the aim of the step is to stop the illegal use of about 50 percent of the $10 billion cash amount that Iraq imports annually from the Federal Reserve Bank in New York.

This step comes as part of a broader campaign to stop the economy's dependence on the dollar after residents began to prefer the US currency over the dinar.  Ahmed said that  people who deposit dollars in banks before the end of 2023 will be able to withdraw money in dollars in 2024. But dollars deposited in 2024 can only be withdrawn in the local currency at the official rate of 1,320 dinars to the dollar.

Official Price

Ahmed said, "You want to transfer money? To do so. You want a card in dollars? Here you go. You can use the card inside Iraq at the official rate, or if you want to withdraw cash, you can at the official rate in dinars... but don't talk to me about dollars in cash anymore."

Iraq has already created a platform to organize bank transfers that make up the bulk of demand for dollars, and which has served as a hotbed for counterfeit receipts and fraudulent transactions that have leaked dollars to Iran and Syria, which are under US sanctions. 

Ahmed stated that  this system, which was put in place in coordination with the authorities in the United States where Iraq's reserves of $120 billion from oil sales are kept, is now almost airtight and provides dollars at the official rate to those who engage in legitimate trade activities such as importing food and consumer goods.  But he said that  the misuse of cash withdrawals continues in ways that include travelers who are officially entitled to $3,000 but are looking for ways to circumvent the system.

Iraq relies heavily on its good relations with Washington to ensure that the country's oil revenues and funds are not subject to American oversight.

Dollar Shortage  

Many local banks have already limited cash withdrawals in dollars over the past few months, exacerbating shortages that have caused the exchange rate to continue to rise in the parallel market. 

Ahmed said that  some banks are suffering from a shortage of dollars because many people are trying to withdraw at the same time in light of a feeling of unease about the financial system, while  some banks are also suffering from a shortage because they provided loans denominated in dollars that were then repaid in dinars. 

He added that  the Central Bank of Iraq also limited the amount of dollars it provides as part of an agreement with the US Central Bank to limit cash liquidity and shift to electronic payments. 

Ahmed pointed out that  the Iraqi Central Bank expects the dinar to lose more of its value as the new measures enter into force, but he added that  this is an acceptable side effect of formalizing the financial system, noting that  the Iraqi Central Bank provides dollars at the official exchange rate for all legitimate purposes.

He said that the cost that Iraq is bearing today is not compared to the value of achieving this goal. 

Ahmed stated that  the financing operations that are carried out transparently and legally through the bank and at the official rate are the most important and therefore nothing else matters, even if the exchange rate reaches 1700.

 He continued, saying,  "The cost we bear now is nothing compared to achieving this goal, in all honesty, as long as the legitimate channels are established.

What matters is even if the exchange rate reaches 1,700... because the legitimate purpose is the official price." https://baghdadtoday.news/236459-الدينار-سيتعافى.-العراق-يقترب-من-نهاية-وشيكة-لأزمة-الدولار-قبل-نهاية-2023.html

The Importance Of Oil And Gas Law

Economic 11/26/2023 Muhammad Sharif Abu Maysam  The importance of the Oil and Gas Law does not stop at establishing the correct mechanisms and methods for managing oil wealth and establishing the correct solutions for resolving oil and gas conflicts and disputes between the producing and contracting parties in a way that enhances confidence in the political system and the judicial institution, as its legislation and entry into force will necessarily contribute to supporting political, security and economic stability.

They will contribute to strengthening national unity, increasing the rule of law, and creating an attractive investment environment that goes beyond promoting investments in the oil sector, and will push towards the urgent need to legislate the Federal Court Law,

respect the constitution, and resolve all points of contention between the center and the region, given that most of the outstanding problems between Baghdad and Erbil are the result of the oil and revenue file. Oil, and most importantly of all,

the legislation of this law will confirm the right of the Iraqi people to own oil and gas wealth as stated in Articles (11 and 12) of the Constitution.

Despite this great importance of legislating the oil and gas law, which prompted the current government to form a committee to study and amend the draft law and then present it to the government and the House of Representatives, political differences are still an obstacle to approving a law that satisfies all parties since 2007 until now, which makes Legislating this law is the biggest challenge under the government's program document applications.

It goes without saying that a legal draft that is not consistent with the constitutional texts will be subject to categorical rejection under the powers of the Federal Court responsible for implementing the constitutional texts.

Anything less than that can be agreed upon through intensifying dialogue sessions between oil and legal experts and those concerned with financial management.

However, such a law will remain. It has been locked away for about sixteen years without legislation under the pretext of political differences.

This is a very strange matter, not only because the justifications for obstruction are illogical in light of the extent of the national importance of its legislation,

but also because the current stage is the most dangerous after the escalation of the conflict between the major oil-consuming countries, in addition to what the country is witnessing. Of major economic transformations, at a time when we are looking forward to implementing the government program, specifically with regard to legislating obstructive laws and resolving disputes related to economic files.

Accordingly, the current committee charged with studying and amending the draft prepared in 2007, over which dialogue took place for years to no avail, is required to work hard, compete for time, and disclose the reality of the obstacles that hinder reaching consensus on the controversial points contained therein, with the aim of forming a public opinion that pressures those responsible. By disrupting.    https://alsabaah.iq/87868-.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

When we align our thoughts, emotions, and actions with the highest part of ourselves, we are filled with enthusiasm, purpose and meaning. Life is rich and full  -We have no thoughts of bitterness -- we have no memory of fear -- We are joyously and intimately engaged with our world - This is the experience of authentic power

Your intentions create the reality that you experience -- Until you become aware of this - it happens unconsciously - therefore -- be mindful of what you project -- this is the  first step toward authentic power

The journey to authentic power requires that you become conscious of all that you feel

When seen through authentically empowered eyes - a being with a higher rank in creation is one that has more ability to  see without obstruction, more ability to live in love and wisdom - and more ability and desire to help others evolve into the same love and  Light

Continued……….. More to come

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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RIPPLE XRP🚨BIGGEST LIFE CHANGING EVENT🚨PREPARE NOW!

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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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Follow Goldilocks'  Roadmap

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Thank you Dinar Recaps    www.DinarRecaps.com

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

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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

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"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

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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."

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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!!!!