Goldilocks' Comments and Global Economic News Friday Evening 1-5-24

Goldilocks' Comments and Global Economic News Friday Evening 1-5-24

Good Evening Dinar Recaps,

Our $34 Trillion Debt Is Turning the States to Gold    The New York Sun Link

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Republican lawmakers and the White House agreed last June to temporarily lift the nation's debt limit, staving off the risk of what would be a historic default. That agreement lasts until January 2025. Here are some answers to questions about the new record national debt.

US national debt hits record $34 trillion as Congress gears up for funding fight  ABC News Link

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Maersk suspends shipping through key Red Sea maritime trade route ‘until further notice’ CNN Link

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South Korean blockchain Klaytn onboards gold RWA DeFi platform

Klaytn said the platform, launched alongside an accompanying cryptocurrency, provides what it claims to be the first tokenized gold available on DeFi outside of the Ethereum ecosystem.  The Block Link

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From Black Gold to Tech Marvel: Coal's New Role in Electronics    OilPrice Link

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US Labor Market Summarized: (This is the revised report - a lot of mistakes don't you think)

1. 10 out of the last 11 jobs reports revised lower

2. ~25% of jobs gains in 2023 ultimately revised away

3. Government jobs accounted for 25% of December jobs gains

4. Part-time jobs UP 762,000, full-time jobs DOWN 1.5 million in December

5. Full-time job gains are FLAT for 2023 while part-time is up sharply

6. Inflation-adjusted earnings ~3% BELOW 2021 levels

But still, the initial jobs number beats expectations and prints headlines before being revised lower.

How is this a "soft landing.?"

Twitter Link
CNN Link
BIS Link

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Iraqi News Highlights and Points to Ponder Friday Afternoon 1-5-24

Iraqi News Highlights and Points to Ponder Friday Afternoon 1-5-24

New Amendments Await The Tripartite Budget Law, And The Region Is Taking Its Articles Into Account

Special Sumerian 01-04-2024 Source:  Sumerian  126 views   After several bumps in the way, the tripartite budget returns to the forefront of amendments again, even though its articles are constitutional, according to representatives.

Budget materials, especially those related to the region’s entitlements from a legal point of view, are in the above report.  LINK

Iraqi Companies Record An Increase In Market Value During 2023 And Expectations Of The Entry Of “Foreign Portfolios”

2024-01-05 Shafaq News/ The Future Iraq Foundation for Economic Studies and Consultations monitored an increase in the market value of companies listed on the Iraqi Stock Exchange by 20% during the past year to reach 18.66 trillion Iraqi dinars, higher than what it recorded at the end of 2022, which amounted to 15.56 trillion Iraqi dinars.

According to the institution’s statistics, the banking sector, which represents 50% of the total market value of listed companies, rose by 19.4% to reach 9.23 trillion dinars after it was at the end of 2022 with a value of 7,734, and this increase came as a result of the rise in the market value of the banks of Baghdad, the Iraqi National Bank, Al-Mansour Bank, and the Credit Bank. Its market value increased by more than 100% during this year.

At the level of the telecommunications sector, which represents 38% of the total market value of companies, it increased by 22.7% as a result of the increase in the market value of “Zain Iraq” by 25.8% and “Asiacell” by 18%.

In the industrial sector, which represents 5.6% of the total market value of listed companies, it rose by 13.8%, making the sector exceed the trillion dinars barrier for the first time, after it was at the end of 2022 around 915 billion dinars. This increase came as a result of the rise in “Pepsi Baghdad” company, which represents 76% of The total market value of industrial sector companies increased by 17.6%, but the market value of many industrial companies decreased, such as “Fallujah” for construction materials, and the Modern Construction Materials Company, whose value decreased by 41%, which affected the total market value of the sector.

While the hotels and tourism sector, which represents 3.36% of the total market value of listed companies, recorded an increase of 11.6%, bringing the market value of the sector’s companies to 627 billion dinars, after it was at the end of 2022 at a value of 562 billion dinars. This increase came as a result of a rise in the shares of Babel Hotels. Which represents 32% of the total companies in the sector, and whose market value increased by 7.5%, in addition to the increase in the market value of the “Palestine” Hotel, which represents 14% of the total market value of companies in the sector, which increased by 37.5%.

It is expected that companies listed on the market will witness an increase in 2024, especially the banking, industry, services and agriculture sectors. It is possible that the market value of the entire market in 2024 will exceed the 22 trillion dinars barrier, especially with the percentages of profits achieved by companies listed on the market, specifically in the banking sector, which is expected to increase. It will dominate the market more over the next year through the merger of a group of banks and also the demand to buy bank shares, most of which are below the fair value of the share.

It is expected that new companies will be listed that could contribute to increasing the demand for shares and thus increasing the market value of the market, as it provides an attractive investment environment that derives its strength from the strength of corporate profits, the high share price, weak competition in the market, in addition to the entry of new foreign portfolios into the market that contribute to increasing the market value of companies. included.  LINK

Iran And The Rise Of The Dollar.. Fingers Point To “Beneficiaries” Of The Kerman Bombing

Posted On01-05-2024 By Sotaliraq  01-04-2024  An Iranian report said on Thursday that the occurrence of a large number of casualties in the terrorist incident in the city of Kerman prompted “profiteers” to use the media to harness the incident as a “ladder” to raise the price of foreign currency and defraud people.

The Iranian Fars Agency noted in a report, “The killing of 95 people and the injury of 284 citizens in the terrorist attack that occurred yesterday in Kerman renewed the pain of the entire Iranian people.”

The report added that, amidst the grief of citizens, there were some businessmen and speculators who created a ladder from the blood of the victims of yesterday’s terrorist incident to protect currency fluctuations and speculation. Pointing out that “just minutes after the news of the terrorist attack on the people of Kerman was published, some websites and channels were raising the exchange rate with specific economic ideas under the pretext of the Kerman bombing and the fall of a group of citizens as victims.”

He noted that “the brokers, who were unable to play with people’s lives in the past few months, saw in the terrorist attack and the shedding of the blood of the country’s people a good opportunity to make a profit, despite the trend being towards a decline in exchange rates and gold, so they raised the exchange rate to 500 tomans higher.” From yesterday afternoon prices.”

Do not buy in the market

The report explained, “All these pressures to raise the price of the currency occurred while these traders faced the problem of lack of demand and the inability to carry out transactions at the new prices,” pointing out that activists in the foreign exchange market are aware that brokers are trying to fish out of murky waters through the media available to them.

For this reason, the currency and coin market was almost empty of customers yesterday afternoon, and only some channels were raising the exchange rate, according to the report.

Before the terrorist attack, the exchange rate was 50,100 tomans, but after news of the incident, the exchange rate rose to 50,600 tomans, and the price of the dollar was raised to 50,950 tomans.[

According to the report, the story becomes more interesting when everyone knows that during yesterday and today the global prices of gold and other metals decreased in global markets, and only the prices in the gold, currency and dollar market in Iran rose due to the presence of intermediaries and their media.

Market volatility

The report quoted Iranian economic expert Muhammad Bayat, saying, “Financial markets react to increasing political and social risks. After the terrorist incident that occurred yesterday, financial markets seemed to react, but the sudden increase and growth in prices at a time when there is no demand in the market, this indicates... However, some people try to raise prices under any pretext.”

Bayat stressed that the prices of currencies and coins are declining mainly due to the decrease in the price of gold, and this decrease in prices has led to market depression for some.

The economist concluded that the growth of prices in the currency and coin market comes without economic justification, and once inflation calms down, prices will return again to the levels targeted by the market maker, and people must be careful not to fall into the game of volatility. LINK

A Financial Expert Identifies The Danger Of The “Deep State” In The Dollar Market And Talks About 3 Pressing Factors

Economy |Baghdad today – Baghdad  Today, Thursday (January 4, 2024), financial expert Saleh Al-Bankari identified the danger of the deep state in the parallel market for the dollar, while pointing to 3 “pressuring” factors on price fluctuations.

The banker told "Baghdad Today", "The fluctuation of the dollar exchange rates in the parallel market recently is due to three direct pressing factors, and is centered on the Central Bank's measures to limit smuggling and launch its electronic platform, in addition to the US Federal Reserve sanctions file and its handling of economic conditions."

He added, "The third factor lies in the government's dealings through adopting the electronic payment file," pointing out that "the dollar has not witnessed any real pressure in recent months in terms of demand, especially with the Sudanese government's decision to stop the budget with the approaching elections of December 18 to prevent its investment in... The promotional dimension by the candidates.

The banker pointed out that "the political scene, in its internal and external aspects, and the events surrounding the region constitute the most dangerous factors for the parallel market in the country, noting that there is no complete control over the border crossings with all their addresses to limit smuggling."

Regarding the dollar in the parallel market, the expert said, “The parallel market is subject, in one way or another, to the control of the deep state, referring to very influential parties who are behind the series of speculations that took place in the past months in order to reap more profits.”

He continued, "Restoring confidence in banks and the general economic situation is a step in the right direction," pointing out that "modernizing the banking sector and adopting modern frameworks will help stabilize the currency market and give strength to the dinar, especially since electronic payment is very important in multiple directions."

Yesterday, Wednesday, the Parliamentary Economics Committee revealed those involved in the fluctuation of the parallel market in Iraq, while indicating that the “dollar traps” are nearing their end.

Committee member Representative Yasser Al-Husseini told “Baghdad Today” that “we are closely following the issue of fluctuations in the parallel market in Iraq, especially after the move to the electronic platform prepared by the Central Bank to regulate dollar liquidity and prevent smuggling, but on the other hand, there are those whose reconciliation with any organization was attacked because He loses his ability to smuggle and manipulate, which prompts him to try to disrupt the markets by various means.”

He added, "Despite the fluctuation in prices, the coming days will bring greater reassurance for merchants and all dealers in the financial market in terms of the stability of the exchange rate at good levels, especially with the central bank's oversight procedures, which we hope will increase in their aspects."

Al-Husseini pointed out that what he called dollar traps - in reference to the attempt of some to manipulate exchange rates in the parallel market - are almost over, pointing out that “there are corrupt people who live off market chaos in addition to the trade in contraband, including drugs, which also constitutes a competitor in the parallel market.” Stressing that "the Central Bank's measures will combat the most important threads of liquidity among these people."

He continued, "The stability of the dollar exchange rate will lead to a decrease in prices in the markets, and this needs some time, indicating that the government's entry into the file of securing materials in the markets will lead to a greater wave of decline in the coming period."

Since the announcement of raising the value of the Iraqi dinar against the dollar by the Central Bank, local markets have witnessed trading at a rate other than the official price of the dollar, with a difference that sometimes reached 30 points, which necessitated the government and the Central Bank to intervene with measures to limit this phenomenon, but to no avail so far, as...

The dollar exchange rate remained high to more than 150 thousand dinars for every 100 dollars in the markets and exchange offices of Baghdad and the provinces.  LINK

 Provoking Points To Ponder on Adversity:

 I am escaped by the skin of my teeth.- Bible

Prosperity tries the fortunate; adversity the great.- Pliny the Younger

Be willing to have it so; acceptance of what has happened is the first step to overcoming the consequences of any misfortune.- William James

If all our misfortunes were laid in one common heap, whence every one must take an equal portion, most people would be content to take their own and depart.- Solon

I never knew any man in my life who could not bear another's misfortunes perfectly like a Christian.- Alexander Pope

When the world has once begun to use us ill, it afterwards continues the same treatment with less scruple or ceremony, as men do to a whore.- Jonathan Swift

Is there no balm in Gilead? Is there no physician there?- Bible

Every difficulty slurred over will be a ghost to disturb your repose later on.- Fridiric Chopin

http://famousquotesandauthors.com/topics/adversity_quotes.html

 Famous Quotes and Authors, Famous Quotations for all Occasions-

Goldilocks' Comments and Global Economic News Friday AM 1-5-24

Goldilocks' Comments and Global Economic News Friday AM 1-5-24

Good Morning Dinar Recaps,

The World Economic Forum's Annual Meeting 2024 takes place 15-19 January 2024.

The 54th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets. https://www.weforum.org/agenda/2024/01/how-to-follow-the-annual-meeting-2024/

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Freight rates for ocean cargo have soared after an attempted attack on Wednesday and a bid to hijack a Maersk ship last Sunday forced shipping companies to suspend plans to restart transits through the Red Sea. https://www.asiafinancial.com/ocean-freight-fees-shoot-up-after-new-red-sea-ship-attacks

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"Interest rate differentials are an important factor in the global economy. They can affect the flow of capital between countries, the value of currencies, and the profitability of investments."

An interest rate differential is basically two different interest rates in two different countries or currencies. At this point, we are witnessing several different ones across the globe.

These interest rate differentials affect values and exchange rates in trade. It is creating a problem for hedge funders wanting to make clear trade bids on the Forex Markets based on a value they can profit from in the trade.

Uncertain interest rates is beginning to create a level of uncertainty for hedge funders attempting to position themselves for profit on the Forex Currency Market in Cross Border International Trading.

Uncertainty in the market creates pullbacks from investors that bring down the flow of money creating less demand and value for currencies utilized in trades.

A great example of this is the use of the dollar in oil trades being replaced by local currencies in the East. As these new volumes increase because of interest rate differentials, countries holding more value over time will be the ones utilized in trades going forward.

These new demands will increase value over time on chosen currencies with lower interest rates resulting in more value in the exchange of goods and services. Look for currency interventions this year to begin the process of leveling off the playing field through narrowing interest rate differentials.

© Goldilocks
Risk Link
Menafn Link

👆Look for currency interventions to begin this year when interest rates around the world begin to move on par with one another.

© Goldilocks
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"Tidbits From TNT" Friday Morning 1-5-2024

TNT:

CandyKisses:  The Central Bank announces expected decisions to support the Iraqi dinar

The Central Bank of Iraq revealed, on Friday, measures and decisions expected to support the dinar and maintain its strength against other currencies, and other measures that will positively affect the exchange rate, while noting that it has taken measures in the field of phasing out the electronic platform.

The assistant director general of the investment department at the Central Bank of Iraq, Mohammed Younis, told the official agency, that "the Central Bank will monitor and follow up all banks, and customer complaints that come back to it in case banks are forced to transfer customer accounts to US dollars," stressing that "this subject is easy to follow and monitor, and banks that do not comply with this decision will be held accountable."

Younis added, "This decision and the decisions that will follow in the coming days are all in the interest of supporting the Iraqi dinar and increasing confidence in it," noting that "what confirms the strength of the dinar and the public's confidence in it is the continuation of the Central Bank of Iraq and its failure to perform any need of various sectors, as it is now funding the sectors of commerce, electronic payment, travel and other sectors."

He pointed out that "the coming days will be more measures in the field of meeting all the needs of the market, supporting the Iraqi dinar and maintaining its strength against other currencies," noting that "the Central Bank, within its new procedures, prevented banks from automatic transfer of customer accounts in dollar to Iraqi dinars, without the consent of the customer, and allowed customers to open accounts in different currencies."

"What is new in updating the procedures is that it allowed companies that have contracts with the state to receive their incoming remittances, including the salaries of workers, as well as ongoing contracts on grants and loans in accordance with the Council of Ministers," Younis noted, "The other point is also in this new decision, is to allow banks to agree with their customers to bring their incoming remittances in cash to Iraq."

He stressed that "these measures will positively affect the exchange rate in the market, and will increase the supply of the dollar, and contribute to serving and supporting important sectors in the economy, including the sectors of exporters and the sector of companies operating in the government field and in the field of infrastructure development and strategic projects, in addition to supporting civil society organizations that contribute to the humanitarian and charitable field in Iraq."

Younis explained, "The main goal behind this update or these instructions is to expand the largest possible segment of obtaining the cash dollar by meeting its current needs of this dollar, as these instructions were expanded from the beneficiaries of the cash dollar, including civil society organizations, and these measures supported an important segment of the economy, the exporters sector, as it allowed them to obtain 40 percent of the remittances received as a result of their exports and receipt in cash."

He pointed out that "the decision clearly specified the mechanisms for its implementation by banks, and focused on the subject of incoming transfers, as it allows the receipt of some categories of their incoming remittances in cash," explaining that "this decision is related to the incoming remittances and not the cash sale of dollars for travelers, as the cash sale to travelers will continue as it is now, in addition to meeting the needs of customers and companies through this decision, and therefore will reflect positively on the exchange rate in the coming days."

Younis stressed that "there are no restrictions applied to banks in the field of money transfer, because there are procedures in the field of phasing out the Central Bank of Iraq platform by supporting interests to open accounts in foreign banks abroad, and the role of the Central Bank is short to enhance these balances and to follow up on transfers."

He concluded, "There are no restrictions on the transfer of funds in various currencies within the foreign currency banking system, but this decision is related to the cash dollar (cash withdrawal)."

https://www.nrttv.com/ar/detail3/21249

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CandyKisses:  Political gathering: The recent escalation in Iraq must accelerate the exit of the Americans

Baghdad Today - Nineveh

Today, Friday (January 5, 2024), Abbas Fadel, a leader in the networked gathering, called for an emergency parliamentary session of the Iraqi parliament.

Fadel told Baghdad Today that "the escalation represented by the bombing of a headquarters of the Popular Mobilization Forces in Baghdad must be an incentive to expel US forces and implement the decision issued by parliament in 2020."

He added that "what happened yesterday is no less serious than the airport incident, as the target party is an official body that orders the authority and the Iraqi state, so holding an emergency session of parliament to expedite a vote on the rapid exit of US forces, and the implementation of this decision by the government directly."

The American side claimed responsibility for the bombing of the headquarters of the Popular Mobilization Forces in Baghdad, which killed a number of leaders, including the jihadist assistant of Harakat al-Nujaba, Abu Taqwa al-Saidi.

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TishwashL  Urgent Al-Sudani: The justifications for the existence of the international coalition have ended and a bilateral committee has been established to schedule its withdrawal from Iraq

The Commander-in-Chief of the Armed Forces, Prime Minister Muhammad Shiaa al-Sudani, announced the formation of a bilateral committee to schedule the withdrawal of international coalition forces from Iraq.

On Friday morning, Al-Sudani attended the memorial ceremony held by the Popular Mobilization Forces on the fourth anniversary of the martyrdom of Al-Nasr leaders and their comrades in 2020.

Al-Sudani pointed out, in his speech, that the attack that led to the martyrdom of the deputy head of the Popular Mobilization Forces, the martyr Jamal Jaafar Al-Ibrahim (Abu Mahdi Al-Muhandis), and the guest of Iraq, General Hajj Qassem Soleimani, represented a blow to all the customs, charters and laws that govern the relationship between Iraq and the United States. It was a heinous and unjustified crime.

He stated that the government is in the process of setting the date for the start of the work of the bilateral committee to make arrangements to permanently end the presence of the international coalition forces in Iraq, and that there will be no neglect of everything that would complete national sovereignty over the land and skies of Iraq.

He pointed out that "four years ago, at the dawn of January 3, 2020, the American administration committed a heinous act by killing an Iraqi military commander, the deputy head of the Popular Mobilization Forces, Jamal Jaafar Al-Ibrahim, and Abu Mahdi Al-Muhandis," noting that "the assassination of Iraq's guest, General “Qassem Soleimani represented a double blow to Iraq, its traditions and customs, and an attack on two countries.”

He pointed out that "Iraq has a strategic partnership agreement and diplomatic relations with America, and in this way the main principles of international relations and what was stipulated in the United Nations Charter regarding equality of sovereignty between states and the prohibition of the use of force in international relations were violated," noting that "Iraq lost a man whose main concern was "In his years, Iraq will be free and independent."

He stated, "The martyr Abu Mahdi Al-Muhandis recalled his legacy of struggle and jihad, and advanced the ranks to defend Iraq from the evils of ISIS terrorists, and rose up under the shadow of the religious authority's fatwa to lead the people of the mobilization in those difficult days."

Al-Sudani continued, "Our government has developed projects, plans, and goals to raise living standards and reduce poverty rates. We have stressed that this year will be a year of achievements. Efforts to fight corruption will continue, with all the powers and legislation the government possesses. We have completed the provincial council elections, which have been stalled for years, to enhance political stability." .

He said, "Our region has been living in a tense situation since October 7 of last year, due to the aggressive and criminal policies practiced by the occupation authorities against the Palestinians in Gaza and the occupied territories. We warned that the continuation of brutal practices in Gaza will have serious repercussions on the region and the world, and we are beginning to feel its effects today." In many countries of the region.

The Prime Minister promised, "The most serious incidents are those that have been repeated more than once in Iraq, with the international coalition forces carrying out attacks against the headquarters of the Popular Mobilization Forces," stressing that "the Popular Mobilization Forces represent an official presence affiliated with the state, subject to it, and an integral part of our armed forces."

He explained, "We have repeatedly emphasized that in the event of a violation or transgression by any Iraqi party, or if Iraqi law is violated, the Iraqi government is the only party that has the right to follow up on the merits of these violations," indicating that "the government is the authority authorized to enforce the law, Everyone must work through it, and no one can infringe on Iraq’s sovereignty.”

Al-Sudani condemned "the attacks that target our security forces, and go beyond the spirit and letter of the mandate that created the international coalition," stressing "the government's ability and willingness to take appropriate decisions to preserve Iraq's sovereignty, security, and stability, as it lies at the core of its responsibilities, obligations, and constitutional duties."

He also affirmed “the firm and principled position in ending the existence of the international coalition after the justifications for its existence have ended,” revealing that “we are in the process of setting the date for the start of the dialogue through the bilateral committee that was formed to determine the arrangements for the end of this presence, and it is a commitment that the government will not back down from, and will not neglect anything that would lead to it.” Completing national sovereignty over the land, sky and waters of Iraq.”

He concluded his speech by saying, "The foundation of loyalty and gratitude for the blood of the martyrs and their sacrifices requires all of us to respect the state and its constitutional institutions."  link

Mot: .. and then I Remembered!!! ~~~~

Mot:  . One of Those Moments - when – siiiggghhhhhh

Iraq Economic News and Points to Ponder Friday AM 1-5-24

Iraq Economic News and Points to Ponder Friday AM 1-5-24

Tlm724 Administrator Bondlady’s Corner

 Al-Sudani: We Are Facing A New Evaluation Of The Ministers And What They Have Accomplished During The Past Period

 Economy| 01/02/2024  Mawazine News – Baghdad  Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Tuesday, his intention to conduct a new evaluation of the ministers and what they have accomplished during the past period.

Al-Sudani said during the first regular cabinet session of this year:

“We are facing a new assessment of the ministers and what they have accomplished during the past period,” pointing out that  “the government is preparing to launch the second semi-annual report this month.”  He added,  "The five priorities will be the most important criteria for evaluating government work," noting that  "the government process chose to build confidence and fulfill promises to the people."    https://www.mawazin.net/Details.aspx?jimare=239815

Digital Transformation In Islamic Banks

Economical 01/04/2024   Ihsan Al-Shammari said that adopting a digital transformation strategy by Islamic banks is an acceptable trend, and comes in harmony with government trends in this direction, and it is desirable in the Islamic economy, but this acceptance is conditional on several controls, so that it does not deviate from its goal, and the situation does not lead to Access to spoilers.

One of the necessary controls when purchasing or employing financial technology is to ensure its suitability for the Islamic finance system.

It is best to develop an internal technology that suits the needs and specificity of Islamic banks.

Therefore, financial sums should be allocated to establish a subsidiary of Islamic banks, with the aim of innovating products internally, and not relying on financial technology. Foreign companies that do not take into account the privacy of Islamic banks and the required legal sequence when carrying out operations.

Here, digital transformation should not be a trick or an excuse to reach illegal transactions.

If digital transformation is intended for anything forbidden, such as installing a device to calculate interest, then it is forbidden, and the applications of digital transformation and digital Islamic finance should not result in violating a text of Sharia.

Reality requires that the digital transformation be disciplined in terms of establishing contracts with financial technology companies and the three parties, so as not to lead to contracts with forbidden companies that are not permissible to deal with.

Likewise, the installation of modern systems and technologies must be accompanied by a careful review that includes all their aspects, and not be satisfied with what they promote.

Companies have the strength of their systems and their advantages, as they must be controlled from the Sharia aspects, and the Sharia burden falls on the Sharia bodies, represented by their Sharia management in the bank, to ensure the integrity of those systems before installing them in the specific bank.

A major role must be created for the Sharia Board in supervising and following up on the digital transformation strategy, due to its absence having negative effects and Sharia risks on the performance of digital banking operations on the grounds that it is a technical issue.

We conclude that what is required is that all digital finance transactions and digital transformation contracts are subject to continuous Sharia auditing, in the form of an independent Sharia audit mission specialized in digital finance, in order to follow up on the discipline of digital finance products and services, to prevent the entry of illicit profits into the bank, and to control the product in the event of any technical or technical failure. Legal, legal or accounting.  https://alsabaah.iq/89881-.html

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

https://www.bondladyscorner.com/

 Provoking Points To Ponder on Adversity:

 The keenest sorrow is to recognize ourselves as the sole cause of all our adversities.- Sophocles

No untroubled day has ever dawned for me.- Seneca

You can't have more bugs than a blanketful.

- Spanish proverbEven in the deepest sinking there is the hidden purpose of an ultimate rising. Thus it is for all men, from none is the source of light withheld unless he himself withdraws from it. Therefore the most important thing is not to despair.- Hasidic saying

Trouble will rain on those who are already wet.- Anonymous

They say a reasonable amount o' fleas is good for a dog - it keeps him from broodin' over bein' a dog mebbe.- Edward Noyes Westcott

There is nothing the body suffers which the soul may not profit by.- George Meredith

The burden is equal to the horse's strength.- The Talmud

Nothing befalls a man except what is in his nature to endure.- Marcus Aurelius

http://famousquotesandauthors.com/topics/adversity_quotes.html

 Famous Quotes and Authors, Famous Quotations for all Occasions-

Goldilocks' Comments and Global Economic News Thursday Evening 1-4-24

Goldilocks' Comments and Global Economic News Thursday Evening 1-4-24

Good Evening Dinar Recaps,

Banking Announcement:

HSBC Launches Tokenized Gold

"One of the largest bullion dealers in London, HSBC Holding, has launched tokenized physical gold trading on its single-dealer platform. The new capability will keep ownership records of the physical gold on a distributed ledger. The new service works with the bank’s Orion platform—which issues digital assets—and its digital custody service, slated to go live in 2024."

HSBC Bank is offering the ability to buy gold tokenized assets. The benefit of this Digital Ledger Program is that you can buy small quantities of gold and build on your portfolio as you have the money to do so.

Your gold will be held on a Digital Ledger service allowing you to hold physical gold through a banking system.  This indicates a shift in our monetary system. A system whereby gold backs both our markets and our banking system going forward.  Is a clear indication that we are moving out of a Fiat system and into a Gold Standard Economy.      https://gfmag.com/banking/hsbc-launches-tokenized-gold/

© Goldilocks

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Iraq is in the process of bringing in non-banked financial institutions into the new digital banking system.

They are achieving this goal through a series of educational offerings surrounding new banking reforms that will help this transition into the banking sector from those outside of it.

© Goldilocks
https://cbi.iq/news/view/2495

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Recently, we have been receiving several pieces of news that give indication that currencies will begin to float up this year.

Will they float to their real value in 2024?

This remains to be seen. It is more important that this year of transition be one whereby exchange rates are tested on the markets and weigh in their worth through the banking system against other currencies.

It is a process whereby the synchronization of the entire Global Economy is currently in play.

We already know that the Indian Rupee has come out and voiced that they expect their currency to trade against the US dollar at 80 to 82 cents by the end of the year. Many countries are expected to bring in their projections soon.

It is important that we develop strategies on what to do in exchanging our currencies as more news develops.

© Goldilocks

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FORM 8-A

FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES

PURSUANT TO SECTION 12(b) OR (g) OF THE 

SECURITIES EXCHANGE ACT OF 1934

GRAYSCALE BITCOIN TRUST (BTC)

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IMF Chief Says Fed Is ‘Definitely’ Securing Soft Landing, Warns of Fragmentation   

BNN Bloomberg Link

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Unlocking the potential of regulated digital assets

As the regulatory frameworks for the tokenisation of securities continue to evolve, market participants need to get to grips with the requirements of new asset classes and new ways of managing existing asset classes.

Fostering real change will be a process and the industry is likely to take an incremental approach, experimenting with distributed ledger technology and digital asset processes in regulated environments to build a resilient, compliant, and sustainable digital asset space.

https://www.ledgerinsights.com/bnp-paribas-regulated-digital-assets/

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Basel Committee Proposes Revised Criteria for Stablecoins' Risk Treatment
https://www.coinlive.com/news-flash/402190

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Ethereum’s Role in Tokenization: From ICOs to Tokenized Securities

Ethereum, the second-largest blockchain by market capitalization, has played a pivotal role in revolutionizing the way assets are owned and exchanged through tokenization.

This process involves representing real-world assets, such as physical goods, securities, and intellectual property, as digital tokens on a blockchain like Ethereum (https://www.binance.com/en-NG/price/ethereum).

These tokens can then be easily traded, fractionalized, and managed, opening up a vast array of possibilities.  The Nation Newspaper Link

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JUST IN: VanEck files registration of securities with SEC for its spot Bitcoin ETF.  @WatcherGuru

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Watch for the crypto markets and the currency markets to move in tandem with each other throughout this year as they find their real values based upon real numbers supporting these two asset classes through gold.

Solid numbers allow the Quantum Financial System of Technologies to operate with specific/real numbers designed to level the playing field securely, efficiently, and fairly.

© Goldilocks

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FORM 8-A

FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES

PURSUANT TO SECTION 12(b) OR (g) OF THE 

SECURITIES EXCHANGE ACT OF 1934

VANECK BITCOIN TRUST

~~~~~~~~~~

MARKET MAKERS HAVE BEEN PREPARING FOR MONTHS TO ENSURE THE CRYPTO MARKET HAS ENOUGH LIQUIDITY FOR THE FLOOD OF INVESTMENT MONEY THAT WILL POUR INTO THE CRYPTO MARKET IF THE BTC ETF APPROVAL IN NEXT FEW DAYS  

Twitter Link

FORM 8-A

FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES

PURSUANT TO SECTION 12(b) OR (g) OF THE 

SECURITIES EXCHANGE ACT OF 1934

VALKYRIE BITCOIN FUND

~~~~~~~~~~

Are you starting to get the picture with all of these spot Bitcoin ETFs?

Do you see how they are about to transition the global markets into a digital economy?

We have been talking about this the last few weeks.

@ Goldilocks

~~~~~~~~~~

A report published by research firm Matrixport opining that the spot bitcoin ETF applications in queue would be rejected was widely disseminated by news outlets and caused widespread panic and massive liquidations across the entire space.

These were the largest liquidation levels since the infamous “Cointelegraph Intern” post several months ago that caught short sellers offside. The founder of Matrixport claimed that the dissemination of their analysis was outside of the firm’s control and was simply the opinion of one of the firm’s analysts.

Cointelegraph Link

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Thank you Dinar Recaps

Iraq Economic News and Points to Ponder Thursday Afternoon 1-4-24

Iraq Economic News and Points to Ponder Thursday Afternoon 1-4-24

Tlm724 Administrator Bondlady’s Corner

The Dollar Continues To Rise In The Parallel Market

Economy |  04/01/2024  The main stock market in Baghdad closed today, Thursday, due to a rise in the price of the dollar against the Iraqi dinar.

According to local sources, selling prices in money exchange shops in local markets in Baghdad recorded 154,500 dinars for 100 dollars, while purchasing prices reached 152,500 dinars for 100 dollars.

The selling price this morning was 153,500 dinars, while the purchase price was 151,500 dinars for every 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=239895

Morgan Stanley Expects Oil Prices To Fall In 2024 As Supply Increases

Morgan Stanley   Arab and international  Economy News - follow-up  Morgan Stanley expects Brent crude prices to stabilize near $80 per barrel in the first half of 2024 before declining by the end of the year as supply outpaces global oil demand growth this year.

The bank expects the growth of global oil demand to slow as the favorable factors that accompanied the recovery from the Covid-19 pandemic recede. Morgan Stanley analysts expected oil demand to grow to 1.2 million barrels per day in 2024, compared to about 2.2 million barrels per day in 2023.

Non-OPEC supply growth is also expected to decline, but at a slower pace, to grow by about 1.7 million barrels per day in 2024, driven in part by production from the United States, Brazil, and Canada.

OPEC+ plans to hold a meeting on February 1 to evaluate the recent decision to reduce oil production.

Brent crude was trading at $78.63 a barrel by 0440 GMT on Thursday, while US West Texas Intermediate crude futures reached $73.22.  01/04/2024 - https://economy-news.net/content.php?id=39160

In Numbers: More Than $97 Billion In Iraq’s Oil Revenues Last Year

Time: 01/04/2024 20:02:46 Read: 52 times  {Economic: Al-Furat News} Last year, 2023, Iraq sold more than 1.232 billion barrels of oil, with revenues exceeding 97 billion dollars.

According to the Ministry of Oil’s data, related to crude oil exports and revenues generated from them during the past year 2023, collected by the Rudaw Media Network, Iraq achieved more than 97 billion and 513 million and 743 thousand dollars.

These revenues came from the sale of more than 1.232 billion and 170 thousand barrels of crude oil within 12 months.

October is the month with the highest revenues, amounting to $9,593,643 billion, and the month is the highest in terms of exports, which amounted to 109,545,589 barrels.

The month with the lowest revenues was February, amounting to 7,062,704 billion dollars, with exports amounting to 92,255,610 barrels.

Below are statistics on total oil exports and revenues by month in 2023:

January  Exports: 101,245,095 barrels   Revenues: 7,663,788 billion dollars

February  Exports: 92,255,610 barrels   Revenues: 7,062,704 billion dollars

March  Exports: 100,913,027 barrels   Revenues: 7,506,401 billion dollars

April  Exports: 98,634,947 barrels      Revenues: 7,699,272 billion dollars

May  Exports: 102,463,387 barrels    Revenues: 7,324,641 billion dollars

June  Exports: 100,059,052 barrels   Revenues: 7,115,000 billion dollars

July  Exports: 106,755,169 barrels   Revenues: 8,330,475 billion dollars

Dad  Exports: 106,122,679 barrels   Revenues: 8,997,851 billion dollars

September  Exports 103,143,199 barrels   Revenues: 9,422,140 billion dollars

October  Exports: 109,545,589 barrels   Revenues: 9,593,643 billion dollars

November  Exports: 102,975,782 barrels   Revenues: 8,481,558 billion dollars

December  Exports: 108,056,590 barrels   Revenues: 8,316,000 billion dollars

Iraq occupies fifth place among the top 10 countries in the world with oil reserves, according to the Italian oil company Eni, amounting to 145.019 billion barrels for the year 2022 with a compound growth rate of 0.1%.   LINK

An American Official: Our Forces In The Region Have Been Subjected To About 115 Attacks Since October 17

the world | 06:30 - 04/01/2024  The Washington Post quoted an American defense official as saying that American forces and international coalition forces in the region have been subjected to about 115 attacks since last October 17.

For his part, an American official told Reuters that the army carried out a strike in Baghdad against an Iraqi faction leader believed to be responsible for attacks on American forces.

According to the Pentagon, the missile and drone attacks resulted in the injury of about 60 American soldiers.   https://www.mawazin.net/Details.aspx?jimare=239893

The US Army Confirms That It Carried Out A Strike On An Iraqi Faction Responsible For Attacks Against It

 04/01/2024 Mawazine News – Baghdad  The United States of America approved, today, Thursday, the implementation of an air strike against the Popular Mobilization Forces in the capital, Baghdad.

Reuters quoted an American official as saying: “We carried out a strike in Baghdad against a leader in an Iraqi faction suspected of being behind attacks on our forces.”

The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasool, confirmed earlier today, Thursday, that the American targeting of one of the headquarters of the Popular Mobilization Forces east of Baghdad is “an act no different from terrorist acts.”

https://www.mawazin.net/Details.aspx?jimare=239885

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

https://www.bondladyscorner.com/

 Provoking Points To Ponder on Adversity:

The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.- Martin Luther King, Jr.

Great occasions do not make heroes or cowards; they simply unveil them to the eyes of men. Silently and imperceptibly, as we wake or sleep, we grow strong or weak; and at last some crisis shows what we have become.- Brooke Foss Westcott

What does not destroy me, makes me strong.- Friedrich Nietzsche

I long ago came to the conclusion that all life is six to five against.- Damon Runyon

 (Adversity is) the state in which a man most easily becomes acquainted with himself, being especially free from admirers then.- Samuel Johnson

Adversity has the same effect on a man that severe training has on the pugilist - it reduces him to his fighting weight.- Josh Billings

From a fallen tree, all make kindling.- Spanish proverb

The virtue of prosperity is temperance; the virtue of adversity is fortitude, which in morals is the heroical virtue.- Francis Bacon

http://famousquotesandauthors.com/topics/adversity_quotes.html

 Famous Quotes and Authors, Famous Quotations for all Occasions-

Iraqi News Highlights and Points to Ponder Thursday Afternoon 1-4-24

Iraqi News Highlights and Points to Ponder Thursday Afternoon 1-4-24

Monetary Conflicts: The Iranian-Iraqi Chamber Of Commerce Confirms The Continuation Of Exchanges Despite The Seizure Of The Dollar

January 3, 2024  Baghdad/Al-Masala Al-Hadath: Member of the Iranian-Iraqi Chamber of Commerce, Hamid Hosseini, said that the Iraqi Central Bank’s law to control the dollar and the announced restrictions do not mean the end of trade exchanges between the two countries or create problems in trade.

During a televised interview, Hosseini referred to the recent measures of the Central Bank of Iraq to deal with foreign currencies: The restrictions imposed after the adoption of this law were in no way a new or unprecedented event in the face of Iranian-Iraqi trade, as they had existed before in many ways.

He added: Naturally, this law made it difficult to exchange dollars in the markets of this country, which will naturally affect the process of commercial and international exchanges. These restrictions are very similar to the laws on buying and selling currencies in Iran and cannot be considered a complete ban on currency exchange.

He pointed to the consequences of applying this law on the foreign exchange process for Iranian merchants and businessmen in Iraq, and said: Nothing new will happen after this law, especially in a country like Iraq, where such issues can be easily resolved. Of course, perhaps export and import expenditures will rise slightly for a short period of time and the business process will face some risks, but it is unlikely that there will be a major problem in trade exchanges.

Referring to the political developments and events in the region and their impact on similar restrictions, this economic activist added: Such issues are generally related to political situations, relations and regional tensions, especially since Iraq is always under pressure from the United States and is forced to surrender to the demands of the United States often.

Hosseini expressed his hope that the positive trend of foreign exchange and trade between Iran and Iraq would continue, and he said: In Iraq, many people still do not want to transfer, buy and sell dollars through financial and banking networks or letters of credit and the like, and Iraqi exchange offices are still the main agent. To exchange currencies in this country.

He continued: Given the circumstances that Iraq is going through, there has always been a way to buy and sell currencies in this country, and Iran can continue its trade exchanges with this country in different ways. There is no doubt that despite the adoption of the new law in this country, the window is open for foreign exchange between Iran and Iraq, and the export process must continue in this way.

He believed that Iranian businessmen and merchants should not worry too much about the consequences of the new Central Bank of Iraq law, because other countries such as Russia, Syria, Venezuela, and others also face similar problems, but they were able to solve them.

In conclusion, he stressed that the Iranian government and the Central Bank are taking effective steps in this regard by providing more support and solutions for export operations and currency exchange with Iraq.   https://almasalah.com/archives/78281

Exchange Rate Fluctuations In Iraqi Stock Exchanges...This List

Economy News – Baghdad  The dollar exchange rates continue to fluctuate in the Iraqi markets during Thursday’s trading.

The exchange rate on the Al-Kifah Stock Exchange in the capital, Baghdad, reached 152,700 per 100 dollars, while the hard currency on the Basra Stock Exchange reached 152,600 dinars per 100 dollars.

The Kurdistan stock exchanges recorded a variation in exchange rates, as it reached 152,500 on the Erbil Stock Exchange, while in Sulaymaniyah, it reached 152,650, and moving to Dohuk, it recorded 152,600 for every 100 dollars.  Views 94 01/04/2024 - https://economy-news.net/content.php?id=39151

The Iranian Riyal Instead Of The Dollar.. Who Benefits From Financing Trade Between Baghdad And Tehran?

Posted On01-04-2024 By Sotaliraq  Ayoub Saad   Iraq began a project to import Iranian goods in the riyal currency instead of the US dollar, as it considered this step important and would contribute to increasing trade exchange with neighboring regional countries.

According to experts, this will put a big question mark on how Iraqi merchants can buy Iranian currency, because that requires either using the US dollar or using the Iraqi dinar, which will be returned again to Iraq for the purpose of being replaced with the dollar, given the very modest volume of Iraqi exports to Iran.

Assistant Director General of the General Foodstuff Company, Muthanna Jabbar, said in an interview with (Al-Mada), “The project was adopted by the Central Bank of Iraq in coordination with Iraqi government banks, starting with the Iraqi Trade Bank, Al-Rafidain and Al-Rashid Bank, and other accredited private banks.”

He adds, “The project depends primarily on reducing the internal demand of importing merchants for the dollar currency,” noting that “imports from Turkey, Iran, Syria, and Saudi Arabia are in the internal currency. It is possible to adopt the internal currency as an alternative currency and calibrate the dollar prices within a specific mechanism in the banks.”

He continues, “Banks have a network of correspondents covering all locations of the world, and are also connected to stock exchanges. If the importer is from China or Iran, he is originally purchasing a specific commodity or commodity in that country’s currency.”

Jabbar explains, “Accreditation is opened on the basis of that country’s currency and is calibrated in dollars, so the Iraqi Trade Bank ensures through the correspondent network that it provides that country’s currency to the merchant applying for the platform for the purpose of import.”

The Assistant Director General of the General Foodstuff Company states, “This step will contribute to increasing trade exchange with regional neighboring countries on the basis of the dinar against the currency, which will help strengthen the dinar and reduce the demand for the import dollar.”[/size]

It is noteworthy that the volume of trade between Iraq and Iran reaches 10 billion dollars per year, and is divided into 95% in favor of Iranian goods, goods and services, and 5% in favor of Iraqi exports, in addition to amounts equivalent to the volume of this trade that Iraq pays to the Iranian side in exchange for importing the gas necessary to operate the stations. electrical.

For his part, economic expert Nasser Al-Kanani said, during a brief interview with (Al-Mada), that “the issue is not easy, and is in the negative interest of Iraq,” noting that “the government is forced to take this measure because it imports from countries under a blockade.”

It is noteworthy that the Central Bank of Iran confirmed the start of a project to settle its country’s exports abroad in the national currency, the riyal, and the issue of settling Iranian exports via the riyal currency outside the borders has been studied by the Central Bank for several months, and that its entry into force will address the requirements of exporters to Iraq and Afghanistan, in addition to the draft regulations. The cross-border riyal was formulated by the Central Bank, and practically two banks have started this project, and soon it will be circulated to all the country's banks.

The American magazine Forbes classified the Iranian riyal as the weakest in the world against the US dollar, as every one US dollar is equivalent to more than 422,000 Iranian riyals. “The difference is greater in parallel markets.”

Specialists believe that continuing to implement the decision to finance trade between the two countries in the Iranian currency would benefit the Iranian riyal but not the Iraqi one, due to the very modest volume of Iraqi exports to Iran.

According to statistics, Iran imported more than $263 million of various Iraqi products, witnessing a decline of 78% compared to previous years, and Iraq was one of Iran’s permanent trading partners over previous years and decades.   LINK

Tens Of Tons And Hundreds Of Thousands Of Dollars.. What Do You Know About Iraq’s Import Of Pork?

Economy   01-04-2024   2,805 views  Al-Sumaria News – Economy   The announcement of statistical data and numbers related to the volume of what Iraq imports and consumes annually of some foodstuffs and goods has become subject to astonishment by citizens, even though they consume these goods continuously, but converting them into numbers makes the Iraqis surprised and believe that the announced numbers are larger. From the volume of what is actually consumed and available in the markets.

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While this applies to goods that are already widely consumed, such as the Indomie product, announcing figures on the volume of pork imported by Iraq may become more surprising.

There is not much clear data available on the volume of pork imported and consumed by Iraq, but the Global Economic Complexity Observatory indicates that Iraq imported pork in 2021 worth 808 thousand dollars, that is, more than one billion Iraqi dinars.

It ranks 141st in the world as the largest importer of pork globally, and pork ranks 738th among the most imported products in Iraq.

Data indicate that Iraq imported pork mainly from the Netherlands for $765,000, South Korea for more than $24,000, Germany for about $13,000, and the United States for about $7,000.

In a historical review, the “Selina” website, which specializes in global agricultural statistics, indicates that Iraq imported 127 tons of pork in 2015, 47 tons in 2016, 74 tons in 2017, 115 tons in 2018, and in 2019 imports jumped to 186 tons. In 2020, it decreased to 90 tons, and in 2021 it jumped to 117 tons.

This makes 2019 the highest year, but following the spread of Corona and the closure of ports, imports decreased significantly.   LINK

Provoking Points To Ponder on Adversity:

Too much happens ... Man performs, engenders so much more than he can or should have to bear. That's how he finds that he can bear anything.  - William Faulkner

A great man does not lose his self-possession when he is afflicted; the ocean is not made muddy by the falling in of its banks.- Panchatantra

I've had an unhappy life, thank God.- Russell Baker

Do not show your wounded finger, for everything will knock up against it.- Baltasar Gracian

They sicken of the calm that know the storm.- Dorothy Parker

Trouble is only opportunity in work clothes.- Henry J. Kaiser

The man who is swimming against the stream knows the strength of it.- Woodrow Wilson

Famous Quotes and Authors, Famous Quotations for all Occasions 

"Tidbits From TNT" Thursday 1-4-2024

 TNT:

Tishwash:  Security deployment and closure of the gates of the Green Zone in Baghdad

Press sources reported, today, Thursday, that the gates of the Green Zone in the capital, Baghdad, began closing, after the bombing that targeted the capital.

She said, "The security forces began closing the gates of the Green Zone in the capital, Baghdad, in anticipation of any emergency," noting, "There is a heavy security deployment within the vicinity of the Green Zone."   link

Tishwash:  Iraq considers targeting the PMF headquarters in Baghdad a "terrorist act" and holds the international coalition responsible for the attack

Today, Thursday (January 4, 2024), the spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasool, described the targeting of the Popular Mobilization Forces headquarters in Baghdad as a “terrorist act,” while holding the international coalition forces responsible for this unjustified attack.

Rasoul said in a statement received by “Baghdad Today”: “In a blatant attack and a blatant violation of Iraq’s sovereignty and security, a drone carried out an act no different from terrorist acts, targeting one of the security headquarters in the capital, Baghdad, today, Thursday, which led to casualties in... This incident is completely unacceptable.”

He added, "The Iraqi Armed Forces hold the International Coalition Forces responsible for this unprovoked attack on an Iraqi security body operating in accordance with the powers granted to it by the Commander-in-Chief of the Armed Forces, which undermines all understandings between the Iraqi Armed Forces and the International Coalition Forces."

He stressed, "We consider this targeting a dangerous escalation and assault on Iraq, far from the spirit and letter of the mandate and the work for which the international coalition was created in Iraq."

Earlier today, a security source reported that the death toll from the bombing of the Popular Mobilization Forces headquarters had risen to 8 members, including two martyrs.

The source told "Baghdad Today", "The initial toll of targeting a headquarters belonging to the Popular Mobilization Forces in the Palestine Street area, east of the capital, Baghdad, rose to 8, including two martyrs."

While another source spoke to "Baghdad Today", that "the person targeted in the bombing that targeted one of the headquarters of the Popular Mobilization Forces is Abu Taqwa Al-Saeedi, commander of the 12th Brigade (Najab Movement 1-)."

He added, "There is no truth to the injury of the Secretary-General of the Popular Mobilization Forces, Lieutenant General Abu Muhammed Al-Halafi."  link

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

Tishwash:  From the dollar to the dinar... Iraqis complain about the deterioration of their salaries

“I have been waiting for about four months to receive my full salary from the bank, but every time I receive half of it and have to wait two or three weeks until I receive another payment,” says Sakar Mustafa, an Iraqi journalist who works independently with international institutions.

She explains to “ Raise Your Voice ” that “her salary ranges between 1,500 and 2,000 US dollars, depending on the work she performs, but what the bank disburses to her does not exceed 1,000 dollars, which is a very small amount that is not sufficient for all of her monthly expenses, represented by house rent and school tuition.” Bills and transportation.

“I spoke to the bank, and they informed me that they had received instructions to disburse salaries according to their capabilities, and currently they do not have the full liquidity to disburse it in full in dollars,” Mustafa continues.

She confirms that "her salary either arrives incomplete, or is transferred to the Iraqi dinar at the official rate set by the government (1,320 dinars per dollar), at a time when the exchange rate in the parallel market is 1,520 dinars per dollar."

On December 31, the Central Bank of Iraq announced the identification of the categories that receive their transfers in US dollars, which are: diplomatic missions, all international organizations and agencies operating in Iraq, and non-governmental civil society organizations registered in the General Secretariat of the Council of Ministers, in the event that the foreign donor stipulates that they pay sums of money. Foreign transfers received in the dollar currency inside Iraq.

In addition to government contracts in effect in the US dollar currency, ongoing contracts for grants, loans, and foreign agreements, and 40% of the remittances received by Iraqi exporters resulting from their exports abroad.

Since the end of 2022, Iraq has been witnessing an exchange rate crisis, represented by the fluctuation of dinar prices against the dollar and other foreign currencies, and inflation in the prices of goods and services in local markets.

The crisis deepened in 2023, with a significant decline in the price of the dinar against the dollar in the parallel market.

One of the solutions developed by the government is to force merchants to deal in the Iraqi dinar in their local transactions, so that the Central Bank of Iraq adopted the electronic platform in the currency auction to limit the smuggling of the dollar from the country and increase the value of the dinar.

The Central Bank activated the second phase of adopting the platform, with the aim of subjecting individual financial transfers and credit cards, activating electronic payment, reducing dependence on cash, and allowing Iraqi banks to import all currencies, including the dollar, to meet the needs of their customers.

But these solutions did not end the crisis in salaries for Iraqi employees working with foreign institutions.

"arbitrary action"

From the beginning of last December until the 20th of December, Iraqi banks, both governmental and private, have imported 255 million US dollars to meet the needs of their customers, according to the latest Central Bank statistics, published by the  official news agency . 

Economist Hammam Al-Shamaa told “Raise Your Voice,” saying, “Reducing the exchange rate in the parallel market to the official exchange rate will not be achieved in the short or even long term. There are many obstacles that prevent this.”

He wonders: “Does Iraq have enough foreign currencies and dollars if oil prices fall? Can it pump into the markets an amount of dollars that would lead to equality or matching between the official and parallel prices?”

“The answers are left to the future,” adds Al-Shamaa, who considered that “the Central Bank’s insistence on dealing with employee salaries paid in dollars based on the official exchange rate is an arbitrary and unfair measure for employees who receive US currency. This measure will not have a significant impact on the markets, as there will be a decline.” In remittances, resort to banking offices or black money transfers.”

Economist Nabil Jabbar Al-Tamimi points out that “there is a defect in the Central Bank’s dealings with external transfers from oil companies and institutions, media institutions, diplomatic bodies and oil companies, as well as other employee beneficiaries, who receive their salaries in dollars, and complain about the large difference between the price of... Official and parallel exchange if their salaries are converted into dinars.”

He told “Raise Your Voice”: “The cases you mentioned are exceptional, and are not an excuse to stop the campaign to end dollarization represented by the excessive use of the dollar in the local market, and the fate of the dollar exchange rate in the end is to stabilize at the official rate or something close to it within months.”

At the same time, Al-Tamimi believes that “the public interest requires acceptance of the state’s decisions, despite their problems.”  link

Mot:  . I'm Trying - Really -- Its sooo Hard!!! – siigghhhhhh

Mot:  . And....there it is 

Iraq Economic News and Points to Ponder Thursday AM 1-4-24

Iraq Economic News and Points to Ponder Thursday AM 1-4-24

Tlm724 Administrator Bondlady’s Corner 

An Economic Center Proposes Changing The Mechanism For Delivering Dollars To Travelers At Iraqi Airports  

 Economy     breaking  center     Proposal     changing     Dollar delivery mechanism     Iraqi travelers

2024-01-03 Shafaq News/ Today, Thursday, the Iraqi Political and Economic Center presented a proposal to change the mechanism for delivering dollars to travelers at Iraqi airports, while recording several observations on the currently approved mechanisms.

The center’s director, Wissam Hadmal Al-Helu, said in a statement received by Shafaq News Agency,

 “The mechanism for delivering the dollar to travelers has witnessed in the past months   a lot of complexity and    did not provide it to many of its beneficiaries for the purposes permitted by the Central Bank.”

 He added,  "The mechanism adopted links that open at limited times, which causes great pressure on it and deprives many people of the ability to enter and reserve to request dollars, as well as

banks specifying specific numbers that are allowed to purchase, and then closing the application according to what was reported by the complaints of many that reached the Iraqi Central Bank."

 Al-Helu continued,  "Accordingly, the Center proposes another mechanism that is simple and protected at the same time, and that  it should be under the supervision of the Central Bank of Iraq and the competent authorities in Iraqi airports," explaining that

"the proposed mechanism includes enabling the traveler who meets the conditions to request what he needs from the 3,000 US dollars allocated to him."

The traveler brings an amount equivalent to the Iraqi dinar and delivers it immediately from inside the airport after stamping his passport upon departure and presenting the stamp, ticket, and board to the bank outlets located at the airports, whose employees are present 24 hours a day.

He pointed out that "this measure will facilitate the way travelers receive the dollar and ensure fair distribution and that the majority of travelers will not be forced to buy the dollar from the black market with a large difference from the official price, which constitutes pressure that represents one of the factors that contributed to raising the exchange rate months ago."

https://api.shafaq.com/ar/اقتصـاد/مركز-اقتصادي-يقترح-تغيير-لية-تسليم-الدولار-للمسافرين-في-المطارات-العراقية

The Center For Banking Studies Announces Its Training Plan For The Year 2024

January 04, 2024    The Center for Banking Studies at the Central Bank of Iraq announced its training plan for the year 2024, which included (12) axes, each of which was distributed over a number of courses, with a total of (80) courses for all axes.

 This year's plan was characterized by the creation of a special axis for non-banking financial institutions, in addition to adding a number of new courses to the other axes in line with the developments witnessed by the international banking sector, and meeting the needs of local banks and the aspirations of the Central Bank of Iraq in the process of reforming the Iraqi banking sector.  https://cbi.iq/news/view/2495

A Significant Increase In The Rate Of External Remittances To The Dollar At The Central Bank Of Iraq Auction

Wednesday 03, January 2024 | Economical Number of readings: 390  Baghdad / NINA / External remittances increased at the Central Bank auction, today, Wednesday, by 91% at the expense of cash sales, to reach $188 million.

The Central Bank stated in a statement that, “During its auction today for buying and selling the US dollar, it sold 205 million, 298 thousand and 248 dollars, which the bank covered at a base exchange rate of 1,305 dinars, per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for foreign transfers.” At a price of 1,310 dinars per dollar in cash form,

he added that most of the bank’s dollar sales went to strengthening balances abroad in the form of (transfers, credits), which amounted to 188 million 706 thousand and 693 dollars, an increase of 91%, compared to cash sales amounting to 16 million 592 thousand and 20 dollars.

He pointed out that the number of banks that purchased cash dollars reached 3 banks, while the number of banks that responded to requests to enhance balances abroad reached 18 banks, while the total number of exchange and brokerage companies participating in the auction was 34 companies./End 8    https://ninanews.com/Website/News/Details?key=1098954

Global Variables And Their Impact On The Iraqi Economy

 Economical  Yasser Al-Metwally:    In the midst of the events that the world witnessed during the past five years, including 2024, which complement the challenges the world faces, intentions are moving towards a multipolar economy after the events struck the last nail in the coffin of obscene globalization, beginning a new era.

This is what the opinions of economists agreed upon, based on indicators of the events of the five years that ravaged the global economy (Corona, the Russia-Ukraine war, and most recently the Israel-Gaza war), which prompted them, and

I mean countries, to rise up against the unilateral hegemony controlling the global economy, and the reasons are known to far and wide. One of the most influential of which is the strict American policy towards the world.

One of the indicators of the escape forward from globalization is the coalition of the five BRICS countries in an attempt to get rid of the dollar’s ​​control over the global economy.

The events that took place foreshadowed expectations of a global global war on the verge of occurring had it not been for the wisdom of some countries, such as China, for example, which was able to defuse it by postponing its invasion of Taiwan before it happened.

It has become certain for everyone that there will be no globalization in the future, but that everyone will sing his praises (protectionism).

America has realized this fact and is trying to recover what remains of its power and maintain its role in leading the global economy.

It began to maneuver at times and to be lenient at other times, indicating - with satisfaction and conviction - that the future is multipolar in managing the global economy and there is no room for monopolization of power that has become useless with... Countries have reached the point of certainty that the solution lies in sharing influence, so they began to work in this manner.

Between these two scenes, some emerging countries broke out of the net of economic dependency and entered the challenge by adopting policies and measures that, to say the least, are the beginnings of a real confrontation with the status quo and an attempt to evade dependency.

Perhaps the closest The example of Saudi Arabia, which took balanced steps in response to the events, taking advantage of its own capabilities to maneuver and the independence of its decision in dealing with countries according to their interests.

This is a simple example that I will cite to reach what concerns us in Iraq.

How much have we been able to meet this challenge? In other words, how capable is Iraq of the challenge?

We acknowledge that Iraq's circumstances may prevent this challenge from being met, so it requires the liberalization and independence of the economy, but how?

Starting with the slogan of protectionism raised by countries, it is summed up by securing food and medicine, possessing technology, and developing education.

These matters require a national will and a unified decision. Is this will available in Iraq?  

It is noted that the Prime Minister is trying hard to experience this important trinity of liberalizing the economy and influence and achieving independence for the country’s economic decision.

On the public policy side, he has maneuvered well in distributing his interests among all countries and keeping them at the same distance, represented by American, Chinese, Russian, Arab and regional investments, and this is a successful and sound beginning.

But in conclusion, Iraq must liberate its commercial market from monoactivity (reliance on imports) only and try to revitalize and strengthen the position of the local industrial and agricultural production sectors with the aim of providing food and medicine.

We hope that these trends will receive support that expresses the national will with the importance and inevitability of prioritizing our country’s interests and strengthening its economy. https://alsabaah.iq/89710-.html

Iraq Is Second In The Middle East With A Large Number Of Children During 2023

 Saturday, December 30, 2023   Baghdad/National News Center  Iraq ranked 48th globally in birth rate density, which measures the number of births per thousand people in a country, and is known internationally as the birth rate.

This indicator gives a clearer picture of the density of births per thousand people, and  it gives a more accurate result than classifying countries according to the number of births because countries are not equal in number of inhabitants and areas.

According to statistics provided by the US Central Intelligence Agency, Iraq is ranked 48th globally out of 228 countries, with a birth density of 24.2 births per thousand people annually.

On the Arab level, Iraq ranked fifth in the Arab world in terms of birth rate density in 2023, after Somalia, Sudan, Palestine, and Mauritania.

The country with the highest birth rate is Niger, with a birth rate of 46.9 births per thousand people. The country with the lowest birth rate is Ukraine, with a birth rate of 5.8 births per thousand people.

If Iraq's location is analysed, it will be in the first quarter of the countries with the most children in the world, and  in the Middle East, Iraq comes in second place in the number of children after the West Bank and Gaza.      https://nnciraq.com/243565/

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

https://www.bondladyscorner.com/

 Provoking Points To Ponder on Adversity:

An earthquake achieves what the law promises but does not in practice maintain - the equality of all men.  - Ignazio Silone

I don't deserve this award, but I have arthritis and I don't deserve that either. - Jack Benny

I have an inward treasure born within me, which can keep me alive if all the extraneous delights should be withheld; or offered only at a price I cannot afford.  - Charlotte Bronte

Nothing is more desirable than to be released from an affliction, but nothing is more frightening than to be divested of a crutch.  - James Baldwin

People don't ever seem to realize that doing what's right is no guarantee against misfortune. - William McFee

The struggle to the top is in itself enough to fulfill the human heart. Sisyphus should be regarded as happy.  - Albert Camus

There are three modes of bearing the ills of life: by indifference, by philosophy and by religion. - Charles Caleb Colton

Weeping may endure for a night, but joy cometh in the morning. - Bible

Night brings our troubles to the light rather than banishes them. - Seneca

http://famousquotesandauthors.com/topics/adversity_quotes.html

 Famous Quotes and Authors, Famous Quotations for all Occasions-

MilitiaMan: Iraq Dinar - Dispurse Payments - Stage Set for Internationalism - Timing - Dinar Commercial - Part 2

Iraq Dinar - Dispurse Payments - Stage Set for Internationalism - Timing - Dinar Commercial - Part 2

MilitiaMan and Crew:  1-3-2024

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=GbCK3gQWMP8