Goldilocks' Comments and Global Economic News Thursday Evening 1-11-24

Goldilocks' Comments and Global Economic News Thursday Evening 1-11-24

Good Evening Dinar Recaps,

Today, spot Bitcoin ETF will begin Trading on the Global Markets. Yesterday's announcements and official adoption of Bitcoin ETFs and today's official launching of this new asset class marks the beginning stages of our new digital economy.

We are witnessing history in the making, and a new Global Economic pathway into the future. A spiritual corridor has been opened within the hearts and minds of the human race allowing access to parts of ourselves never accessed before.

It is in our creative endeavors such as these that access the highest aspects of our human potential.

We are witnessing the evolution of humanity as we embark on a journey uniting both Heaven and Earth.

May God Bless us as we move forward into the great unknown, and may we always hold fast to the notion that none of us ever walk alone. Reuters Link

© Goldilocks

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The Financial Services subcommittee has issued an official statement regarding digital economic adoption and stablecoin payment implementation in the United States.

It is increasingly clear as we have been stating in this room that the United States of America is embarking upon a new Digital asset-based Trading System supported by the Commodities Market.

Our new tokenized assets going forward will be coordinated with new Basel 3 compliant Banking Protocols. A Gold Standard set of rules and regulations will begin to guide this process as further benchmarks are achieved to solidify this new Global Financial System.

© Goldilocks

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Economic Sanctions: Agency Efforts Help Mitigate Some of the Risks Posed by Digital Assets | U.S. GAO

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The FDIC, Federal Reserve and Office of the Comptroller of the Currency today jointly released a prerecorded, one-hour webinar on the final rule to modernize regulations implementing the Community Reinvestment Act. The video provides an overview of the rule and its objectives. Additional topics in the recording include assessment areas, community development, evaluation framework, performance tests, ratings, data collection and reporting and applicability dates.

https://bankingjournal.aba.com/2024/01/banking-agencies-release-video-on-community-reinvestment-act-rule/

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Are Hopes of Lower Mortgage Rates Freezing Up the Market Further? Buyers’ Strike Continues | Wolf Street

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The Central Bank of Russia issued into circulation on 10/16/2023 the new banknote in denomination of (5000) rubles, with an indication that the old issue of the same denomination is still in circulation and has the power of exoneration and legal presentation.

(A new banknote of 5000 Russian)
https://cbi.iq/news/view/2499

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The FDIC, Federal Reserve and Office of the Comptroller of the Currency today jointly released a prerecorded, one-hour webinar on the final rule to modernize regulations implementing the Community Reinvestment Act. The video provides an overview of the rule and its objectives. Additional topics in the recording include assessment areas, community development, evaluation framework, performance tests, ratings, data collection and reporting and applicability dates.

https://bankingjournal.aba.com/2024/01/banking-agencies-release-video-on-community-reinvestment-act-rule/

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Do you see it? Gold and Bitcoin are tracking one another.
© Goldilocks

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With Gold tracking Bitcoin, it will add stress to the Commodities Market.

Gold knows what it's doing. It is the bridge into the next economy that we are now crossing over into at this time.
 
Gold works miracles under pressure.

All roads lead to gold, and gold will set us free.

© Goldilocks

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Below is a list of Bitcoin EFT’s and their ticker symbols.

Blackrock's iShares Bitcoin Trust (IBIT)
ARK 21Shares Bitcoin ETF (ARKB)
WisdomTree Bitcoin Fund (BTCW)
Invesco Galaxy Bitcoin ETF (BTCO)
Bitwise Bitcoin ETF (BITB)
VanEck Bitcoin Trust (HODL)
Franklin Bitcoin ETF (EZBC)
Fidelity Wise Origin Bitcoin Trust (FBTC)
Valkyrie Bitcoin Fund (BRRR)
Grayscale Bitcoin Trust (GBTC)
Hashdex Bitcoin ETF (DEFI)

© GM

Bitcoin ETF Ticker Symbols.

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All of these new ETFs that are tokenizing our assets on the market will create price pressures for gold.

No one knows for sure if Ripple is the next one in line, but they are expecting more.

Each one will cover more and more sectors of the market including Forex. As we all know, we have been studying these tokenized assets and know that gold will support the ones chosen for the new digital economy.

Each step along the way will create new valuations on the market under a new set of Basel 3 guidelines.

This is how our markets will formulate new values across each sector of the digital market.

Can you say float?

© Goldilocks

https://thecryptobasic.com/2024/01/11/top-experts-say-xrp-etf-is-next-with-bitcoin-etf-approved/

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Look for Stablecoins to begin making headline News soon.

Goldilocks

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Iraq Economic News and Points to Ponder Thursday Evening 1-11-24

Iraq Economic News and Points to Ponder Thursday Evening 1-11-24

Tlm724 Administrator Bondlady’s Corner

The Prime Minister Appreciates The Efforts Of America And Italy Made To Support Iraq

Local |  01/11/2024  Mawazine News – Baghdad   Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Thursday, that the path of reform is long and the government has begun to establish it in the long term.

The Prime Minister's Media Office stated in a statement received by Mawazine News that "Al-Sudani received the ambassadors of the Iraq Economic Contact Group (IECG), which represents the major economic countries, France, Britain, Italy, Spain, the United States, Japan, and Canada, in addition to the ambassador of the European Union."

During the meeting, the Prime Minister appreciated “the efforts made to support Iraq in the various past stages. He also expressed his thanks to the United States and Italy, which chaired the group, for the work and communication they provided,” stressing “continuing cooperation with the next presidency represented by the United Kingdom and France, for example.” Achieving the goals for which this group was formed.”

He reviewed, "The government's vision regarding the economic, financial, banking, and customs reforms that it has begun implementing, and its seriousness in establishing a future work approach, in addition to its efforts in implementing its commitments within the ministerial program, and the five priorities that were included in its executive program."

He touched on "the strategic projects that will be an important basis for Iraq's economic renaissance, which are the path of development and gas and renewable energy projects," noting that "the government is aware that the path of reform is long, but it has begun to establish it in the long term, which will help future governments carry out their tasks." .

For their part, representatives of the contact group expressed “great interest and optimism in government policies in the field of the economy, and pointed to past accumulations that the government has begun to address.”

The Italian ambassador praised "the government's description of achievement, and the preparation of a different budget that includes new ideas such as the Iraq Fund for Development and the provision of sovereign guarantees to the private sector."

The US Ambassador to Iraq also praised "the government's successful steps in the field of banking reforms, and its approach to reforming government banks by relying on major international companies, as well as its move towards activating the electronic payment system."

The French ambassador to Iraq praised "the government's policies in reforming border crossings and customs by adopting the ASYCUDA system and preparing a financial budget for three years."

The meeting concluded with an agreement to form a working group and an action plan for a period of 6 months, interspersed with meetings between representatives of the group’s countries, ministries and advisors to the Prime Minister concerned with following up on the work. This will be followed by holding a meeting chaired by the Prime Minister to evaluate what has been presented.

https://www.mawazin.net/Details.aspx?jimare=240226

The US Ambassador Praises The Government's Successful Steps In The Field Of Banking Reforms

Iraq   Thursday, January 11, 2024 Baghdad/National News Center  Today, Thursday, the US Ambassador to Iraq, Elena Romanowski, praised the government's successful steps in the field of banking reforms and its approach to reforming government banks by relying on major international companies.

The media office of Prime Minister Muhammad Shia Al-Sudani stated, in a statement received by the National News Center, that “Al-Sudani received, today, ambassadors from the Iraq Economic Contact Group (IECG), which represents the major economic countries; France, Britain, Italy, Spain, the United States, Japan, and Canada, in addition to the European Union ambassador.”

During the meeting, Al-Sudani appreciated “the efforts made to support Iraq in the various past stages, and also expressed his thanks to the United States and Italy, which chaired the group, for the work and communication they provided,” stressing “the continuation of cooperation with the next presidency represented by the United Kingdom and France, for example.” Achieving the goals for which this group was formed.”

The Prime Minister reviewed “the government’s vision regarding the economic, financial, banking and customs reforms that it has begun to implement, and its seriousness in establishing a future work approach, in addition to its efforts in implementing its commitments within the ministerial program, and the five priorities that were included in its executive program. He also touched on the strategic projects that will be An important basis for Iraq’s economic renaissance, which is the path to development and gas and renewable energy projects.”

He pointed out, “The government realizes that the path of reform is long, but it has begun to establish a foundation for it in the long term, which will help future governments carry out their tasks.” For their part, representatives of the contact group expressed “great interest and optimism in government policies in the field of the economy.”

They pointed to “the past accumulations that the government has begun to address, as the Italian ambassador praised the government’s description of achievement, and the preparation of a different budget that includes new ideas such as the Iraq Fund for Development and the provision of sovereign guarantees to the private sector.”

In addition, the American ambassador to Iraq praised “the government’s successful steps in the field of banking reforms, and its direction to reform government banks by relying on major international companies, as well as the direction towards activating the electronic payment system.”

The French ambassador to Iraq also praised “the government’s policies in reforming border crossings and customs by adopting the ASYCUDA system and preparing a financial budget for three years.”

According to the statement, “The meeting concluded with an agreement to form a working group and an action plan for a period of 6 months, interspersed with meetings between representatives of the group’s countries, ministries, and advisors to the Prime Minister concerned with following up on the work. This will be followed by holding a meeting chaired by the Prime Minister to evaluate what has been presented.”   https://nnciraq.com/245552/

Association Of Banks: The Private Banking Sector Is The Most Traded In The Iraq Stock Exchange

President of the Iraqi Private Banks Association, Wadih Al-Handal  Economy News – Baghdad  The head of the Iraqi Private Banks Association, Wadih Al-Handal, announced on Thursday that the private banking sector will be the most traded on the Iraqi Stock Exchange during the year 2023.

Al-Handal said in a statement, reported by the official news agency, and seen by Al-Iqtisad News, that “the banking sector constitutes 93.94% of the total trading in the year 2023 in the Iraq Stock Exchange, with 647.8 billion shares traded out of a total of 689.6 billion shares.”

He added, "The value of traded shares amounted to 512.7 billion dinars," noting that "the private banking sector witnessed significant development over the past year, despite the challenges it faced in financing foreign trade."

He pointed out, "Bank stocks witnessed significant growth during the year 2023, as some banks' growth reached more than 200% due to increased demand for the sector from Iraqi and foreign investors."

He continued, "The banking sector witnessed an increase in its capital during the past year, in addition to the acquisition of some Iraqi banks by a number of Arab banks, and the entry of some Arab banks into the Iraqi market."  119 views 01/11/2024 - https://economy-news.net/content.php?id=39342

Weekly Trading Indicators For The Iraqi Stock Exchange

 Market  Economy News – Baghdad  During the second week of January 2024, the Iraq Stock Exchange organized five trading sessions from Sunday, 01/07/2024, to Thursday, 01/11/2024. During this week, the following indicators were achieved:

1. The number of shares traded during this week reached more than (6) billion shares.

2. The value of shares traded this week amounted to more than (6) billion dinars.

3. The market trading index closed for the first session of the week at (872.74) points, while the index closed at the end of the week at (866.99) points, achieving a decrease of (0.66%) from its close at the first session.

4. During the week (4025) purchase and sale contracts were executed on the shares of companies listed in the market.  Views 59 01/11/2024 - https://economy-news.net/content.php?id=39336

An Economist Determines Why Iraq Is Moving Towards Internal Debt

Money and business    Economy News – Special  The economic expert, Mustafa Hantoush, revealed today, Thursday, the reason for Iraq’s move toward the theory of internal debt, while clearing is considered the “best option” to return these debts.

Hantoush said, in an interview with Al-Eqtisad News, that “Iraq, in recent years, has begun to move towards the theory of internal debt, due to the accumulation of funds in several funds, including the Retirement Fund, which relates to the state’s transactions amounting to more than 7 trillion dinars, the Social Security Fund, in addition to To the banks of Al-Rafidain, Al-Rasheed, and Al-Iraqi Trade Banks.

He added, "These banks now have deposits in very large amounts, and thus the state headed toward internal debt that amounted to more than 70 trillion dinars."

The economic expert called for "returning the debt to the retirement fund," noting that "there are two theories for restoring the internal debt. The first is related to repayment. This is a long theory, as governments will not be able to repay in this way in light of the presence of interest."

The other theory, according to Hantoush, is “clearing, which may bring about settlement operations for some internal debt, which has some risks, but it may be the solution available to the Iraqi state.”

Earlier today, an informed source revealed that the size of the Ministry of Finance’s internal debt had reached about 70 trillion dinars, indicating that the rise in internal debt was not a good indicator, especially since the government possesses liquidity, and it must work to structure the internal debt.

Views 89  Added 01/11/2024 - https://economy-news.net/content.php?id=39329

To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/

Provoking Points To Ponder on Adversity:

True knowledge comes only through suffering.- Elizabeth Barrett Browning

Suffering raises up those souls that are truly great; it is only small souls that are made mean-spirited by it.- Alexandra David-Neel

He disposes Doom who hath suffered him.- Emily Dickinson

Suffering has always been with us, does it really matter in what form it comes? All that matters is how we bear it and how we fit it into our lives.- Etty Hillesum

We are healed of a suffering only by experiencing it to the full.- Marcel Proust

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

 Famous Quotes and Authors, Famous Quotations for all Occasions-

Iraq Economic News and Points to Ponder Thursday Afternoon 1-11-24

Iraq Economic News and Points to Ponder Thursday Afternoon 1-11-24

Tlm724 Administrator Bondlady’s Corner

{Diminishing Interest}.. A Government Trend To Increase Development Rates

 Economical 01/11/2024   Baghdad: Haider Falih Al-Rubaie  Economic affairs specialists welcomed the government trend that will oblige banks to set decreasing interest rates on loans, stressing that this could achieve a number of important economic factors, including  increasing development rates and   raising the purchasing power of the beneficiaries of these loans, especially   employees,  retirees, and  those covered by the Social Protection Law.

According to specialists, the high interest rates on loans imposed by banks according to the increasing interest method have burdened the beneficiaries of those loans, especially those with limited income, who are forced to pay half the value of the loan sometimes in the form of interest, which led to limiting their purchasing capabilities, and thus this contributed

The banking method significantly increases poverty rates, according to specialists, who also called for the need for the central bank to intervene decisively in determining the interest rates charged on loans.

The welcoming economic stances came after the government decision to limit the “drain” on the financial capabilities of loan beneficiaries, as the Prime Minister, Muhammad Shiaa Al-Sudani, instructed to reconsider the calculation of the interest paid on loans granted to citizens.

Prime Minister Muhammad Shiaa Al-Sudani directed the Ministry of Finance, the Central Bank, and government and private banks to reconsider calculating the interest paid on loans granted to citizens, using the simple decreasing interest method instead of the cumulative method, which burdens the borrower with burdens on them.

This decision, according to the economic expert, Dr. Ali Daadoush, during his speech to Al-Sabah, could enhance the financial solvency of three of the most important segments of society, namely the segment of employees, retirees, and those covered by the Social Protection Law, stressing that this approach is sufficient to achieve a package of important economic achievements, which stands in Its introduction is to give a great advantage to those with fixed income, as  the decision, once activated, will reduce the interest paid to become gradually lower until the loan is paid in full.

The expert, Daadoush, gave an example of how to apply decreasing interest if it was actually implemented by banks. He pointed out that, for example, if the loan amount is 10 million dinars, with an interest rate of 10%, and the repayment years are 5 years, then 200 thousand dinars are deducted per month.

But next year the interest will be paid on the amount of 8 million and so on, indicating at the same time that  this approach is consistent with the government program in one way or another as it is concerned with serving a large segment of employees and retirees who have been burdened by the cumulative interest.

Despite the positives listed by expert Daoudesh, researcher and member of the Iraqi Economists Association,  Muqdam Al-Shaibani, believes that the decision has other advantages related to increasing rates of sustainable development in Iraq.

Al-Shaibani told “Al-Sabah” that   “the government’s direction to reconsider calculating the interest on loans granted to citizens and using the simple decreasing interest method will achieve a noticeable and rapid increase in the development process, which will reflect positively on the economic reality of the country through employing the workforce, reviving the markets, and operating many means.”

Transportation that will contribute to supporting construction, trade and other development areas.

Researcher Al-Shaibani also believes that the rest of the loans should be included in the government decision, as industrial and agricultural diminishing loans can play a vital role in accelerating and increasing rates of economic development, and

that financing projects with their various uses is sufficient to eliminate unemployment and improve the level of per capita income from the gross domestic product to achieve well-being for citizens..

Specialists had previously welcomed, during their talks with “Al-Sabah”, the directions of the monetary authority in the country, which aim to increase rates of sustainable development, stressing that

the launch of the Central Bank of the National Lending Strategy could achieve a package of important economic steps, the forefront of which is the elimination of... Unemployment, poverty, and moving the wheel of private sector work.

The initiative announced earlier by the Governor of the Central Bank, Ali Al-Alaq, according to the opinions of specialists, constituted a starting point towards nourishing economic stability and contributing to growth, prosperity and creating job opportunities,

especially since this strategy is directed to supporting small and medium enterprises, which can absorb thousands of workers..

Al-Alaq announced a plan to build a national lending strategy that will come into effect at the beginning of this year, 2024, stressing that

Riyada Bank will be a base for launching and financing small and medium enterprises, and that its total initiatives have reached more than 12 billion dollars.    https://alsabaah.iq/90267-.html

Prime Minister: We Cannot Create Development Without Reforming The Banking And Financial Sector

 Wednesday 10, January 2024 | Economical   Baghdad / NINA / The Prime Minister stressed that:  “Development cannot be created without reforming the banking and financial sector.”

Al-Sudani said in a speech at the opening of the Baghdad International Fair activities:  “The government has adopted economic reform from day one.” He added:   “Specialized teams have come up with a package of measures that contribute to tax reform.” /End

https://ninanews.com/Website/News/Details?key=1100266

Rafidain Bank Announces Privileges For Electronic Payment Instead Of Cash

 Wednesday 10, January 2024 | Economical     Number of readings: 281 Baghdad / NINA / Al-Rafidain Bank announced privileges for electronic payment and the use of points of sale in financial transactions instead of cash.

The bank said in a statement that one of the advantages of electronic payment is the  saving of time and     effort in carrying out financial transactions, and the security of transactions, as the  electronic payment device provides security and trust by encrypting financial transactions and  protecting  customers from fraud and unauthorized use, and the device also  provides speed and ease in payment operations.”  https://ninanews.com/Website/News/Details?key=1100131

Al-Rafidain Issues A Clarification Regarding The Use Of The Electronic Card

 Tuesday, January 9, 2024 Baghdad/National News Center   Today, Tuesday, Rafidain Bank issued a clarification regarding the use of electronic cards.  The bank stated, in a statement received by the National News Center, that “the electronic card has several benefits and advantages and is used in important areas, most notably deposits, withdrawals, shopping, and conducting daily financial transactions away from cash and manual cash.”

The statement added:  “From this standpoint, Rafidain Bank stresses the need for its holder to act in accordance with his declared income limits, especially the electronic card for employees and retirees, which is fed into a bank account, and

thus it should be used in a civilized and responsible manner by filling it with amounts consistent with the maximum permissible limit and in a manner consistent with the amount The monthly salary of the employee or retiree and the rest of the sources of income declared by the cardholder in accordance with the Anti-Money Laundering and Counter-Terrorism Financing Law.”

He warned citizens against “giving the card and password to another person who withdraws amounts outside the country, and  this is part of money laundering operations,” concluding by saying: “Dear citizen, your card is your financial identity, so be sure to use it for the legitimate purposes designated for it inside and outside Iraq.”    https://nnciraq.com/245113/

In The Document.. The Iraqi Central Bank Issues Guidance Regarding Financial Movements Via Cards

Local / Economy |Yesterday, |Baghdad today – Baghdad Today, Wednesday (January 10, 2024), the Central Bank of Iraq directed that it is absolutely not permissible to set a “maximum ceiling” for spending exclusively from debit cards, with regard to payment and obtaining powers in government departments.

According to a document seen by "Baghdad Today", the directive concerns debit cards linked to a bank account, as citizens who own this type of card will be able to pay fees and financial fees for government services in all state departments without a limited ceiling on spending.

In the document.. The Iraqi Central Bank issues guidance regarding financial movements via cards Whatsapp-image-2024-01-10-at-7_14_05-pm

https://baghdadtoday.news/uploads/posts/2024-01/whatsapp-image-2024-01-10-at-7_14_05-pm.jpg  

https://baghdadtoday.news/239806-بالوثيقة.-المركزي-العراقي-يصدر-توجيهاً-بشأن-الحركات-المالية-عبر-البطاقات.html

To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/

Provoking Points To Ponder on Adversity:

 Don't look forward to the day when you stop suffering. Because when it comes, you'll know you're dead.- Tennessee Williams

How sublime a thing it is to suffer and be strong.- Henry Wadsworth Longfellow

He disposes Doom who hath suffered him.- Emily Dickinson

They merit more praise who know how to suffer misery than those who temper themselves in contentment.- Pietro Aretino

Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, vision cleared, ambition inspired, and success achieved.- Helen Keller

Never to suffer would have been never to have been blessed.- Edgar Allan Poe

It is somehow reassuring to discover that the word "travel" is derived from "travail," denoting the pains of childbirth.- Jessica Mitford 

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

 Famous Quotes and Authors, Famous Quotations for all Occasions-

Iraqi News Highlights and Points to Ponder Thursday AM 1-11-24

Iraqi News Highlights and Points to Ponder Thursday AM 1-11-24

Hard Currency Sales Rose To More Than $229 Million At Thursday’s Auction

Economy |Baghdad today – Baghdad  Today, Thursday (January 11, 2024), the Central Bank’s sales amounted to more than $229 million during its auction to buy and sell the US dollar.

According to the bank’s list, its total sales today amounted to 229 million and 63 thousand and 145 dollars, which the bank covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at a rate of 1,310 dinars per dollar for external transfers, and at a rate of 1,310 dinars per dollar in cash.

According to the table provided to “Baghdad Today,” “most of the dollar sales went to strengthen balances abroad in the form of (remittances, credits), amounting to 206 million and 883 thousand and 145 dollars, while the rest, amounting to 22 million and 180 thousand dollars, went in the form of cash sales.”   LINK

Dollar Conflicts Are Exhausting The Market. The Government’s Solutions Are Almost Powerless, And The Citizen Is A Victim Of Prices

Posted On01-11-2024 By Sotaliraq  Baghdad/ Haider Hisham  The Iraqi people have been suffering for quite some time from the rise in the dollar exchange rates in local markets, despite the government and the central bank taking many measures to control the “parallel market,” but attempts to control it and bring it to the official price seem “difficult,” according to what is expected. Citizens, at a time when Parliament Finance confirmed that the strength of the dollar will remain.

On February 7, 2023, one hundred days after assuming the presidency of the government, Prime Minister Muhammad Shiaa Al-Sudani confirmed that “the currency window was a black spot in the banking system,” pointing to “the vote on the Central Bank’s request to adjust the exchange rate to 1,300 dinars for every one dollar.” .

Al-Sudani said at the time: “In order for the citizen to be convinced that the dinar is stronger than the dollar, I advise citizens not to acquire the dollar.”

Many citizens were upset by the continuing dollar crisis, as they always remembered the speech of the Prime Minister and his advisors, who promised that “the dinar would be stronger than the dollar,” but the continuous rise in the American currency did not fulfill the government’s “famous” statement.

Citizen Omar Al-Zaidi said, in an interview with (Al-Mada), that “the crisis of the dollar’s ​​rise in the markets has increased our suffering, given the lack of control over its prices, especially in the parallel market,” considering that “the measures of the government and the Central Bank are not sufficient to control this rise.”

Al-Zaidi adds, “The Prime Minister promised us several months ago to control the dollar crisis, and bring prices and their fluctuations in the Iraqi street to the official price, which he set after assuming office, but these are only ‘daydreams’, and the dollar will not fall.”

Dollar prices recorded an increase with the opening of the Al-Kifah and Al-Harithiya stock exchanges yesterday, Wednesday, to record 153,900 Iraqi dinars against 100 dollars, while prices also rose in banking shops in the local markets in Baghdad, where the selling price reached 154,750 Iraqi dinars. Member of the Parliamentary Finance Committee, Mudar Al-Karawi, expected a rise in the dollar and an increase in demand on the parallel market, with the launch of the allocations of the financial budget law, while he stressed that the strength of the dollar will remain for several reasons.

Al-Karawi said, in an interview with Al Mada, “Reducing the dollar exchange rates in the parallel market is a strategy adopted by the current government through four dimensions: The most prominent of which is strengthening the dinar, ending the issue of smuggling and speculation, in addition to resolving the issue of dollarization in the markets, as well as the trend towards electronic payment.”

He points out that “a decrease in the dollar is possible and an increase is also possible, but according to specific percentages according to the principle of supply and demand.” Because the Central Bank’s measures will have an impact in the coming months.”

The member of Parliamentary Finance explains that “the pressure will be great on the parallel market and may rise by certain percentages, with the release of budget allocations,” stressing that “the ability of speculators has decreased by clear percentages.”

Al-Karawi points out, “Iraq exists in a worried regional environment and its crises are multiple, and it still depends on the pastoralist economy, so it is the most affected by several files,” pointing out that “the strength of the dollar remains present, but according to levels.”

He explains, “The parallel market’s influence cannot be eliminated without reviving industry and national production in order to reduce the demand for buying the dollar,” noting that “exchange rates are currently almost stable and their rise may tend to decline, but slowly.” According to economists, the widening gap between the official and parallel rates of the dollar against the dinar weakens confidence in the local currency, reduces incentives to deposit money in Iraqi banks and prompts savers to exchange the dinar for the dollar, which leads to higher prices and a decrease in the real or purchasing value of the Iraqi currency.

In turn, economic affairs researcher, Diaa Al-Mohsen, enslaved the government’s ability to confirm its saying, “The dinar is stronger than the dollar,” while proposing several solutions to control the dollar exchange rates. Al-Mohsen confirms, in an interview with (Al-Mada), that “the exchange rate of the dollar against the Iraqi dinar has fallen from its previous levels to the threshold of 1,500 dinars per dollar, but this did not prevent the dollar from rising again,” wondering “why did the exchange rate of the dollar decrease against the Iraqi dinar?” Why did it rise again?

He added: “There were no real changes that occurred in the Iraqi economy, even aiming for a decrease in the exchange rate,” noting that “small merchants still cannot pay the dues they owe to suppliers, especially those Syrian, Lebanese, and Iranian suppliers, due to the embargo imposed on these countries by US Federal Bank.

He notes, “These people are forced to go to the black market to buy the dollar, which leads to an increase in demand for the dollar and thus its price rises.” “The solution is in more than one direction. The first is to agree with these countries to pay the dues they owe in the same country’s currency, that is, to deal in the local currency of Iraq, Syria, Lebanon and Iran, and then secondly to activate and qualify the real economic sectors to contribute to meeting the largest part of the market’s needs.” According to the researcher’s vision of economic affairs.

He continues, “These solutions are the ones that will end the suffering of the Iraqis with the rise in prices and end the dollar battle with them.”

The government is not able to implement the saying that the dinar is stronger than the dollar,” Al-Mohsen adds to (Al-Mada), and says: “As long as imports consume the largest part of oil revenues, in addition to the agricultural and industrial sectors not contributing, except for the local market’s need for goods that the citizen needs, then it is “It is difficult to strengthen the local currency, at the expense of the dollar.”

The fluctuation in the exchange rate is troubling Iraqis and has become their primary concern due to its catastrophic repercussions on their living conditions and purchasing capabilities, which are declining daily due to the rise in prices of basic goods, materials and services, with the decline in the value of the dinar against the dollar.

Exchange rate fluctuations are taking place around the clock, despite the attempts of the Central Bank of Iraq to control them and return to the official approved exchange rate of 132 thousand dinars per 100 dollars, which prompts observers and economic experts to sound the alarm that what is happening will further destabilize the political and social stability of the country, and will raise Of the already high rates of poverty, unemployment and high prices.

It is noteworthy that, on Tuesday, February 7, 2023, the Council of Ministers approved a decision to adjust the dollar exchange rate to 1,300 dinars.  LINK

A Source For Al-Iqtisad News: The Internal Debt Amounts To About 70 Trillion Dinars

Money  and business  Economy News – Baghdad  An informed source revealed that the size of the Ministry of Finance’s internal debt reached about 70 trillion dinars.

The source told Al-Iqtisad News that the size of the internal debt in 2019 was more than 38.3 trillion dinars, while it increased after the approval of the first and second deficit financing laws in the year 2020, which allowed the government to borrow 30 trillion dinars through treasury bonds and direct loans from banks to finance salaries. State employees after the collapse of oil prices during the Corona pandemic

He added that the internal debt currently amounts to about 70 trillion dinars, and that most of the borrowing is by the Central Bank, the Rafidain and Rasheed banks, and the Retirement Authority.

He continued that treasury transfers discounted by the Central Bank amounted to 42.6 trillion dinars, while treasury transfers discounted by government banks amounted to 5.1 trillion dinars, and other financial institutions such as the Retirement Authority amounted to 18.2 trillion dinars.

He pointed out that the bonds recently offered by the Ministry of Finance, namely reconstruction and construction, amounted to 2.58 trillion dinars after being discounted by citizens and financial institutions.

The source confirmed that the rise in internal debt is not a good indicator, especially since the government has liquidity and must work to restructure the internal debt.

Views 78 01/11/2024 -https://economy-news.net/content.php?id=39327

An economist determines why Iraq is moving toward internal debt

Money  and business  Economy News – Special  The economic expert, Mustafa Hantoush, revealed today, Thursday, the reason for Iraq’s move towards the theory of internal debt, while clearing is considered the “best option” to return these debts.

Hantoush said, in an interview with Al-Iqtisad News, that “Iraq, in recent years, has begun to move towards the theory of internal debt, due to the accumulation of funds in several funds, including the Retirement Fund, which relates to the state’s transactions amounting to more than 7 trillion dinars, the Social Security Fund, in addition to To the banks of Al-Rafidain, Al-Rasheed, and Al-Iraqi Trade Banks.

He added, "These banks now have deposits in very large amounts, and thus the state headed toward internal debt that amounted to more than 70 trillion dinars."

The economist called for "returning the debt to the retirement fund," noting that "there are two theories for restoring the internal debt. The first is related to repayment. This is a long theory, as governments will not be able to repay in this way in light of the presence of interest."

The other theory, according to Hantoush, is “clearing, which may bring about settlement operations for some internal debt, which has some risks, but it may be the solution available to the Iraqi state.”

Earlier today, an informed source revealed that the size of the Ministry of Finance’s internal debt had reached about 70 trillion dinars, indicating that the rise in internal debt was not a good indicator, especially since the government possesses liquidity, and it must work to structure the internal debt.

Views 40 01/11/2024 - https://economy-news.net/content.php?id=39329

Provoking Points To Ponder on Adversity:

Much of your pain is the bitter potion by which the physician within you heals your sick self.- Kahlil Gibran

Man cannot remake himself without suffering, for he is both the marble and the sculptor.- Dr. Alexis Carrel

Out of suffering have emerged the strongest souls; the most massive characters are seared with scars.- Edwin H. Chapin

The pain of love is the pain of being alive. It is a perpetual wound.- Maureen Duffy

There is no coming to consciousness without pain.- Carl Jung

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

 Famous Quotes and Authors, Famous Quotations for all Occasions-

"Tidbits From TNT" Thursday Morning 1-11-2024

TNT:

Tishwash:  you can look each one of these up and see what they do too 

UK Firms introduce new Banking Systems at National Bank of Iraq

The National Bank of Iraq (NBI) has announced the introduction of three new banking systems.

According to Izzidin Abusalameh, Group Chief Operating Officer of Capital Bank of Jordan (majority shareholder of NBI), trade finance operations will be enhanced with the help of software from UK-based Finastra.

Additionally, both NBI and Capital Bank of Jordan have successfully implemented Transact, a core banking solution from British company Temenos.

Temenos' Payment Hub will also replace the legacy systems at NBI.   link 

CandyKisses:  The popular movement demands the deterrence of US forces and the end of their presence inside Iraq

Information / Baghdad...

Hussein al-Karawi, a member of the popular movement for the Belt and Road, said on Thursday that Iraq has the possibility of heading towards the eastern camp and moving away from US economic hegemony, and taking appropriate decisions to deter US forces and end their presence inside Iraq without thinking about the economic consequences for Washington.

 Al-Karawi told Al-Maalouma that "political forces must move to put an end to the American transgressions on the Iraqi people, the security services and the Popular Mobilization, and this requires a unified position from the resistance forces to pressure the political parties to take decisions that would end the American presence inside Iraq."

He added that "America continues its violations and crimes inside Iraq, and this requires taking deterrent measures to stop these repeated attacks against the Iraqi people."

He pointed out that "Iraq can not link its economy to the American side and head towards the eastern camp alongside Russia, China, Iran and other Asian countries, and take decisions that ensure the removal of the American occupier from Iraq without thinking or fearing any economic measures that Washington may take against Baghdad." Finished 25n

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CandyKisses:  The UAE invites the Sudanese to participate in the World Government Summit

Shafaq News/ Iraqi Prime Minister Muhammad Shiaa Al-Sudani received, on Wednesday, an invitation to participate in the work of the World Government Summit 2024.

His media office said in a statement received by Shafaq News Agency, that Al-Sudani received, this afternoon, the Ambassador of the United Arab Emirates in Baghdad, Salem Al-Zaabi.

According to the statement, Al Zaabi brought the greetings of the President of the United Arab Emirates, Mohammed bin Zayed Al Nahyan, and the Ruler of Dubai, Mohammed bin Rashid Al Maktoum, to the Prime Minister, handing him an invitation from Mohammed bin Rashid to participate in the work of the World Government Summit 2024, which will be held in the Emirates. Next February.

According to the statement, the Prime Minister stressed the depth of the relationship between Iraq and the UAE, pointing to the importance of the global summit and its vital impact on providing services in various forms to citizens, and praised the UAE government and its leadership in the field of e-government.

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CandyKisses:  Officially.. The House of Representatives sets next Saturday as the date for the election of a speaker of parliament

Baghdad Today - Baghdad

Today, Thursday (January 11, 2024), the House of Representatives announced the agenda of its session scheduled to be held next Saturday.

According to a document issued by the media department of the House of Representatives, and obtained by "Baghdad Today", "the session of the House of Representatives scheduled to be held next Saturday will include the election of the speaker of the House of Representatives. "

She pointed out that "the session will be held at three o'clock in the afternoon."

Mot: FYI!!! -- School Was WAY easier in His Day - Because ...

Mot: . Had I known He was Real!!! --- ooooh Well!!!!

Goldilocks' Comments and Global Economic News Wednesday Evening 1-10-24

Goldilocks' Comments and Global Economic News Wednesday Evening 1-10-24

Good Evening Dinar Recaps,

"The Bank Term Funding Program (BTFP), the Fed’s infamous tool to nip the March 2023 bank-panic and liquidity crisis in the bud, will expire on March 11, at its original one-year time limit, Michael Barr, Fed Vice Chair for Supervision, said at a panel appearance in Washington, D.C., today."

Not long ago, we learned that interest rates would take a drastic turn downward between March and May. This would be normal since interest rates normally fall during a recession. It is a tool that is used to stimulate growth.

Gold has a tendency to rise when interest rates go down. Historically, gold has been known to do very well during a recession as well. Do you see the setup patterns taking place?

We have new localized currencies around the world that are beginning to move into the marketplace, and they are being strengthened because of their inflationary demand at the present time.

The BTFP will be pulled on March the 11th, 2024. At this time, look for Market and currency interventions to begin. This is when our January the 16th, 2024 Basel 3 requirements to infuse the markets and banking system with gold to support their unification are most likely to create an incredible demand for gold.

These new tokenized assets across all sectors of the market including the Forex sector will then have access to gold's liquidity raising the value of our new digital economy through a new World Reserve Asset capable of deflating our inflated economy with real world values.

© Goldilocks
WolfStreet Link
Bullion By Post Link
Bloomberg Link

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Global economy on track for worst half-decade of growth in 30 years, says World Bank

https://www.ft.com/content/b00ec9ec-5497-4543-aa57-f10873c8952b

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We are just a few hours away from spot Bitcoin ETF approval. A couple of things for us to expect are as follows:

Historically, these events Trigger selling pressure on the CME Futures Market. Yes, selling pressure is usually the initial reaction to a new asset being added to the markets. We will see.

And, Standard Chartered Bank expects Market inflows to significantly increase for Bitcoin over the next two years.

These two triggers will increase the demand for Digital Asset Based Trading adoption. We have already heard of more ETFs being on their way to inclusion inside the market such as Ethereum and Ripple.

These trigger events will transition the market into a digital economy whereby new demands and new price actions on tokenized assets across every sector of the market will be revalued.

These new tokenized assets regulated by new Basel 3 requirements on January 16th, 2024 will be standardized through protocol 20 (January 30th) as the green light is given for Quantum Technologies to form new networks on our Global markets.

© Goldilocks
TheQuantumInsider. Link
https://www.sc.com/en/

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Washington, D.C. — "The Commodity Futures Trading Commission today issued, for public comment, a proposed rule on the Investment of Customer Funds by Futures Commission Merchants and Derivatives Clearing Organizations."

On January 17th, 2024 new rules are formulating new guidelines on the use of clients' money inside the banking system.

Investment of your money inside the banking system is about to come under new rulings that restrict past protocols.

These new guidelines will secure a client's assets through the use of gold supporting each account.

© Goldilocks
https://www.cftc.gov/PressRoom/PressReleases/8818-23

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Key highlights of FinCEN’s final rule on access to Beneficial Ownership Information | Eversheds Sutherland (US) LLP   JDSupra Link

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Crypto regulations tightened in 80% of major jurisdictions in 2023, analysts say  Crypto News Link

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New maritime route to increase trade competitiveness of Jordan, Egypt - India Shipping News

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Gold shows modest gain amid dollar retreat and inflation report anticipation - Shafaq News Link

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A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price. That fixed price is used to determine the value of the currency. 

For example, if the U.S. sets the price of gold at $500 an ounce, the value of the dollar would be 1/500th of an ounce of gold.     https://www.investopedia.com › ask

What Is the Gold Standard? Advantages, Alternatives, and History - Investopedia 

👆Gold did not reset today, but it is indicating a level of caution today.

When it does, you will know the global economy has just agreed upon a change.

© Goldilocks

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And, so It begins. The transition into the new digital economy begins.

© Goldilocks

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Blockchain comes to bank wholesale deposits in bid to slash costs

Major banks will begin digitising contracts that govern their debt financing, and explore trading and settling money market transactions using blockchain technology, in a project that Imperium Markets and the Digital Finance Co-operative Research Centre (DFCRC) will launch in the coming months.

The move is an example of the “tokenisation” of financial assets (https://www.afr.com/companies/financial-services/tokenisation-of-real-world-assets-is-the-killer-app-for-crypto-20231019-p5edlb) – in this case, wholesale bank deposits – which has been identified by the Reserve Bank as one used for a digital version of the Australian dollar, the eAUD.

The trials suggest initial applications for blockchains beyond bitcoin in Australian financial markets will not be clearing and settlement of public equities – after ASX bungled a project to replace CHESS – but rather wholesale debt capital markets.   AFR Link

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The RSI or Relative Strength Index is curling on Bitcoin whereby wrapped assets of spot Bitcoin ETF reside.

As we discussed earlier today, a new asset usually takes a dive the first day or so it enters the market before it starts to come back up.

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SEC Archives Link

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Thank you Dinar Recaps

Iraq Economic News and Points to Ponder Wednesday Afternoon 1-10-24

Iraq Economic News and Points to Ponder Wednesday Afternoon 1-10-24

Tlm724 Administrator Bondlady’s Corner

Economy Parliament: Officials Behind Manipulation Of The Dollar...And Warns Of “A Very Dangerous Matter”

Time: 01/09/2024 Read: 2,301 times  {Economic: Al-Furat News} A member of the Parliamentary Economics Committee, Soran Omar, accused influential parties - which he did not name - of being behind the manipulation of the dollar exchange rate.

Omar said in a press statement, “The government did not control the exchange rate radically, and all measures to reduce it have limited impact, in light of the continued smuggling and money laundering through some banks and money exchangers,” noting that “the Central Bank’s measures are continuing, but the exchange rate is still high.” On the black market, the difference sometimes reaches 25 thousand dinars {per hundred dollars} from the official price.”

He warned that "corrupt people are benefiting from the rise in the exchange rate, and some officials are behind the manipulation of the black market," calling for "radical measures to be taken to set the price, as it affects the economy negatively, which is a very dangerous matter that portends undesirable consequences."

Omar pointed out that “the responsible authorities accuse merchants of being behind the increase in exchange rates due to their reluctance to enter the Central Bank’s platform to buy dollars, in addition to complaints from commercial circles about obstacles and restrictions imposed by the Central Bank that complicate the issue of dealing with the platform.”

It is noteworthy that the measures to strengthen monetary sovereignty in the country by reducing dealing with the dollar and relying on the Iraqi dinar in financial transactions are still confusing daily life in the local markets, as they witness a large difference between the official and parallel prices.

The Central Bank of Iraq sells the dollar through a special electronic platform for trading foreign currency at a price of 1,320 dinars per dollar, while the exchange rate in the parallel market is about 1,530 dinars.   LINK

"Al-Eqtisad News" Publishes Dollar Prices On Iraqi Stock Exchanges

 Economy News – Baghdad  Today, Wednesday, Al-Iqtisad News publishes the exchange rates of the dollar in local markets.  The exchange rates on the Baghdad stock exchanges reached 154,300 per 100 dollars, while the Basra Stock Exchange recorded 154,400 per 100 dollars.  As for the Kurdistan region, prices in Erbil and Sulaymaniyah reached 154,100, but the Dohuk Stock Exchange recorded an increase in prices, reaching 154,200. Views 49  01/10/2024 - https://economy-news.net/content.php?id=39305

The Government Begins Preparing The 2024 Budget Schedules

Money  and business  Economy News – Baghdad  Deputy Prime Minister, Minister of Planning Muhammad Tamim, announced work on preparing the 2024 budget schedules and sending them to Parliament for approval.

A statement issued by the Ministry of Oil, a copy of which was received by Al-Eqtisad News, said: “Today, Wednesday, Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, chaired an expanded meeting, held in the Ministry of Oil, in the presence of the Deputy Prime Minister for Energy Affairs, Minister of Oil, Hayan Abdul-Ghani, Minister of Finance, Taif Sami, Minister of Oil in the Kurdistan Regional Government, Kamal Muhammad, and his accompanying delegation, as well as undersecretaries of the Ministries of Planning and Oil, and a number of general directors in the two ministries, and the Ministry of Finance.”

The statement added that during the meeting, mechanisms for preparing the general budget schedules for this year 2024 were discussed, in its operational and investment aspects, in light of oil prices and the revenues expected to be achieved during this year.

The minister stressed the government's keenness to complete these schedules within this year's budget as soon as possible and send them to the House of Representatives for approval, taking into account the quantities of oil exported, including the Kurdistan region's share, and Iraq's obligations to the production quotas specified by OPEC Plus.

For his part, the Minister of Oil, Hayan Abdul Ghani, stressed the importance of the budget, which requires completing the spending and financial revenue schedules, indicating that the Ministry of Oil is making great efforts to provide the best conditions to secure the production and export of oil, and to achieve appropriate revenues to secure financing of the budget.

In addition, Finance Minister Taif Sami indicated the ministry’s keenness to achieve balance in the budget and secure the necessary funding for the ruling and basic spending sections, whether on the operational or investment side.

Meanwhile, the Minister of Oil in the Kurdistan Region, Kamal Muhammad, expressed the region’s readiness to cooperate in the field of oil export in accordance with what was approved by the budget law.

It is noteworthy that the Iraqi government approved a three-year budget in order to formulate a clear financial and economic policy to achieve development.

90 views 01/10/2024 - https://economy-news.net/content.php?id=39307

Stock Market Falls By 1.04%

Iraqi Stock Exchange  Market  The Iraqi Stock Exchange fell by 1.04% after the shares of leading companies fell.  The stock exchange concluded 837 deals on shares of 38 companies, with traded shares reaching 918 million shares, worth 1.3 billion dinars.

Shares of Palestine Hotel rose by 4.8%, Elite General Contracting by 4.26%, and Al-Sajjad Furniture by 3.3%, while shares of Trans-Iraq Bank decreased by 5.6% and National Furniture Industries by 5%.

The banking sector ranked first in trading, with traded shares reaching 745.6 million shares worth 701.4 million dinars, followed by the industrial sector, which traded 34.9 million shares worth 110 million dinars.  Views 45  Added 01/10/2024 - 2:35 PM  https://economy-news.net/content.php?id=39306

Al-Sudani: The Process Of Development And Work For A Strong, Stable And Prosperous Iraq Has Begun

Time: 01/10/2024 18:29:39 Read: 169 times  Prime Minister Muhammad Shiaa Al-Sudani, unlike the opening of the activities of the 47th session of the Baghdad International Fair:

I welcome brothers, friends, companies and businessmen to Baghdad Al Salam  Today was a special day, as in the morning we laid the foundation stone for constructing a bridge on the Tigris River

The process of development and work towards a strong, stable and prosperous Iraq has begun LINK

Prime Minister: Iraq Seeks To Expel The Coalition Forces Quickly And Orderly

Wednesday 10, January 2024 15:26 | Political Number of readings: 276  Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Wednesday, that Iraq seeks to expel the international coalition forces quickly and orderly, while indicating that ending the war on Gaza will stop the danger of regional escalation.

The Prime Minister said in an interview with Reuters: “Iraq is seeking to remove the international coalition forces quickly and orderly so that they do not remain in Iraq for a long time and the attacks continue,” indicating that “this is done by agreeing on a time frame for their removal.”

He added, "There is a need to reorganize the relationship, so that it is not a target or justification for any party, whether internal or external, to tamper with stability in Iraq and the region."

Regarding the war on Gaza, the Prime Minister stressed “the necessity of ending this war, which would stop the danger of regional escalation,” explaining that “ending the Gaza war is the only solution.”

He warned of “the expansion of the conflict arena in a region that is sensitive to the entire world and which possesses most of the energy supplies.”https://ninanews.com/Website/News/Details?Key=1100226

To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/

Provoking Points To Ponder on Adversity:

Much of your pain is the bitter potion by which the physician within you heals your sick self.- Kahlil Gibran

Man cannot remake himself without suffering, for he is both the marble and the sculptor.- Dr. Alexis Carrel

Out of suffering have emerged the strongest souls; the most massive characters are seared with scars.- Edwin H. Chapin

The pain of love is the pain of being alive. It is a perpetual wound.- Maureen Duffy

There is no coming to consciousness without pain.- Carl Jung

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

 Famous Quotes and Authors, Famous Quotations for all Occasions-

"Tidbits From TNT" Wednesday 1-10-2024

TNT:

Tishwash:  Al-Sudani: We want a quick exit of the international coalition, and its presence is destabilizing for the region

Prime Minister Muhammad Shiaa al-Sudani announced that Iraq wants a quick and orderly exit of the US-led military forces from its territory through negotiation, but he did not set a final date.

In a statement to Reuters, Al-Sudani described the presence of these forces as “destabilizing in light of the regional repercussions of the Gaza war.”

Al-Sudani said that there is a need to reorganize this relationship so that it is not a goal or justification for any party, whether internal or external, to tamper with stability in Iraq and the region.

He added that the exit of these forces must take place through negotiation.   link

CandyKisses:  Washington disregards Baghdad's decisions. Its forces continue to stay and the dispersion of positions supports them

Information/private.

The Pentagon expressed a position through which it responded to the Iraqi government, which was determined to schedule the removal of their forces during the current year, so Washington did not pay attention to Baghdad's demands, and hit the desires of political and popular forces "in disregard."

The refusal of the Washington administration to withdraw its forces from Iraq is not new, as it has always maintained that its exit in 2011 was a big mistake, which it was reconciled by introducing ISIS gangs to return from the window again, under the pretext that it was able to return again to Mesopotamia.

The Pentagon confirmed on Monday that it does not currently plan to withdraw its forces of about 2,500 troops from Iraq, under the pretext of fighting ISIS gangs.

The leader of the Fatah Alliance, Aide Sahib, outlined the reasons for the continued US presence in Iraq, while stressing the importance of Washington's commitment to agreements with the Iraqi state.

Sahib said, in an interview with the Information Agency, that "the US presence in Iraq is due, among other things, to Washington's fear for its interests in the region, and therefore it will not abide by any pledge with the Iraqi government or any other political party related to the withdrawal of its forces from Iraq."

He adds, "The other thing revolves around the Iraqi house, where there are three houses inside the Iraqi house, which leads to the absence of unity of discourse, which Washington invests very heavily by pushing the components towards each other, and through this policy can establish its presence in the country."

The leader of the Amiri alliance pointed out that "there are very many international files, where we need a global negotiating team capable of going towards global institutions to embarrass Washington and draw its policy inside Iraq, as is the case in Korea, Japan and Germany "

Sahib stressed "the importance of America's commitment to agreements and commitments with the Iraqi state, especially the previous ones, as Washington cannot violate Iraqi autonomy and not abide by the Strategic Framework Agreement, for example."

Washington disregards Baghdad's decisions. Its forces continue to stay and the dispersion of positions supports them

 Washington disregards Baghdad's decisions. Its forces continue to stay and the dispersion of positions supports them

"Official occupation"

The American response to Baghdad's demands clarifies one reality, which this or that political party is trying to hide to ensure the achievement of mutual interests, away from the interests of the Iraqi people, who have suffered greatly from the American presence on their territory.

In addition, the leader of the coordination framework, Mahmoud Al-Hayani, commented on the position of the US Department of Defense, which rejected the exit of its forces from Iraq, and while describing the US presence as "occupation", he stressed the lack of need for these forces to survive.

Al-Hayani said, in an interview with the agency / Information /, that "after the recent position issued by the Pentagon, which refused to withdraw its forces from Iraq, those forces have become officially occupied," noting that "the Iraqi government insists on the formation of committees to schedule the removal of all foreign forces, while Washington rejects this idea."

He pointed out that "the security agreement concluded between Baghdad and Washington focused on pushing back the danger and fighting terrorism that threatens the country, but this file has ended after the defeat of ISIS gangs, which confirms that the country does not need these forces." "

"The forces that defended the country from the threat of ISIS were represented by the Iraqi security forces, not the Americans," he said, pointing out that "America's insistence on staying confirms the existence of premeditated goals and intentions."

The American presence in Iraq is due to a basic reason and revolves around the existing political forces, so that each of them searches for its interests, so you see that party is allied with Turkey, and this with the UAE, and the other with America , so it does not consider Iraq its home, but just a geographical location to be on, and stole the largest amount of its wealth. 

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Tishwash:  Al-Sudani: No force will be able to stop the wheel of reconstruction that has begun

Prime Minister Muhammad Shiaa Al-Sudani said on Wednesday that the government he heads is continuing with the wheel of reconstruction and construction in the country despite the many challenges it faces.

This came in a speech during the launch of work on a multi-lane bridge project on the Tigris River in Al-Jadriya in the center of the capital, Baghdad.

Al-Sudani said in a speech followed by “Earth News” that, “The Iraqi government faces many challenges, and there are those who try to occupy us with this or that file, but they face a solid will and determination to continue with this methodology of work regarding the implementation of projects.”

He added, "We pledge to our people that we will not back down from work, and no force will be able to stop the wheel of reconstruction that has begun."  link

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Tishwash:  Today.. the launch of the Baghdad Exhibition activities, with wide local and international participation

The Minister of Commerce, Atheer Daoud Al-Ghurairi, announced the completion of all preparations for holding the 47th session of the Baghdad International Fair, which opens today, Wednesday, with wide local and international participation.

Al-Ghurairi confirmed, according to a trade statement after his tour of the exhibition’s pavilions and citizens’ resting places, that the exhibition in this session differs from previous ones in terms of organization, the number of participating countries and companies, and the infrastructure that we have worked on over the previous months, to be at the level of ambition, as the exhibition represents Iraq’s window to the world and contributes to achieving real partnerships. For the Iraqi private sector with its counterparts in other countries of the world.”

He added, “The staff of the General Company for Iraqi Exhibitions, along with the supporting bodies in the ministry’s departments and companies, have completed all final preparations for holding the new session of the Baghdad Fair, and we can say that this session will have a good level of organization, as well as aspects Others related to rehabilitating green spaces, planting them, and creating electronic gates for the first time. We were able to take many measures in the exhibition’s pavilions and halls, which continued over the past months, contributing to fundamental changes that showed the exhibition with artistic beauty and good taste.”

Al-Ghurairi noted the participation of more than 21 countries and more than 850 companies in the session’s activities. Some of the new ones are participating for the first time, and there are many requests to participate in the exhibition that were submitted to the General Company for Iraqi Exhibitions, while the Iraqi Federation of Industries participates with a large pavilion that represents Iraqi industries of locally manufactured materials, and some of them are exported to other countries of the world. It is a step that works to find all means of support for them to enable and support them. Export.   link

Mot: Happy National Static Electricity Day! (I know... it's *shocking* that this is a thing!)

Mot: .. Awkward is Right!!!

Iraq Economic News and Points to Ponder Wednesday AM 1-10-24

Iraq Economic News and Points to Ponder Wednesday AM 1-10-24

Tlm724 Administrator Bondlady’s Corner

Directive From The Sudanese Government To The Central Bank And Banks Regarding Interest On Citizens’ Loans – Urgent

 Politics |Yesterday, 22:09 |Baghdad today – Baghdad  Today, Tuesday (January 9, 2024), Prime Minister Muhammad Shiaa Al-Sudani directed the Central Bank and all banks to use the decreasing simple interest method in citizens’ loans.

A government source said in an interview with "Baghdad Today",

"Al-Sudani directed the Ministry of Finance, the Central Bank of Iraq, and government and private banks to reconsider calculating the interest paid on loans granted to citizens." He added,  "He also directed the use of the simple, decreasing interest method instead of the cumulative method, which places burdens on the borrower that burden them."

https://baghdadtoday.news/239745-توجيه-من-السوداني-الى-المركزي-والمصارف-بشأن-فائدة-قروض-المواطنين-عاجل.html

Electronic Payment In Iraq...A Deterrent To Corruption And Bribery And Fears Of A Weak Financial Culture Among People

Reports and analyses     Iraq     breaking     Central Bank of Iraq     Electronic payment     gas stations     POS  2024-01-08 21:36d  Shafaq News/ Electronic payment is a system for making or settling payments without the need to use cash.

This system has many advantages, the most important of which is eliminating corruption, fraud and direct bribery in government institutions, ease of trading, raising cash deposit rates in banks and other benefits.

But Iraq's transition to this globally applicable system is not without fraud, whether by merchants when citizens shop, or by collecting additional amounts under the pretext of the withholding fees currently in effect, especially since society's culture of electronic payment is weak.

Therefore, it is necessary to educate society on trading in it, and to facilitate the opening of bank credits for citizens for the purpose of issuing electronic cards smoothly and without obstacles, according to what a number of experts in the Iraqi economy spoke to Shafaq News Agency.

Ending cash handling at gas stations

The Iraqi government seeks to activate the electronic payment service, adopt modern automation systems, and end cash dealing.

Accordingly, the Petroleum Products Distribution Company, affiliated with the Iraqi Ministry of Oil, has set the end of next March as a deadline for cash transactions at government and private fuel filling stations.

The company's general manager, Hussein Talib, said in a previous statement to Shafaq News Agency,

"All government and private fuel filling stations will use the electronic payment system to fill fuel, on the first of next April."

Talib had announced an increase in fuel refueling rates through electronic payment cards, confirming in a statement received by Shafaq News Agency, that

“sales through the use of electronic cards

     recorded 35 million dinars last April, while in

     November of last year they recorded more than 350 million dinars.”

This is usually an indication of the success of the experiment.

Talib called on citizens to “procure electronic payment cards to learn more about the service and discover its advantages.”

1.2 million bank accounts in 9 months

In turn, the Iraqi Private Banks Association revealed, on December 12, a growth in accounts, bank cards and electronic payment devices after the great support provided by Prime Minister Muhammad Shia al-Sudani and the Central Bank of Iraq to the banking sector, through activating electronic payment in government and private institutions and reform in Foreign trade financing mechanisms

The association’s executive director, Ali Tariq, said in a press statement that bank accounts grew by 14%, reaching 10.02 million bank accounts by September 30, 2023, after at the end of 2022 there were more than 8.79 million accounts, which means the creation of more than 1.2 million. Account within 9 months.

Benefits of electronic payment

In this context, financial and economic expert, Mahmoud Dagher, says,

“Cash is the means used for all corruption and fraudulent operations, and therefore

one of the most important benefits of electronic payment is the elimination of corruption and fraudulent operations.”  Dagher added to Shafaq News Agency,

“It also facilitates the process of settling accounts inside banks instead of the settlements being outside banks in offices and homes.” He continues,

"It also helps businessmen to have controlled accounts through the bank statements provided to them by the banks they are affiliated with." He asserts,

 “There are no harms or negatives to electronic payment, and

all countries of the world are trying to reduce the volume of settlements by cash payment and resort to electronic payment.” The economist believes that

 “Iraq is capable of regularizing electronic payments quickly, expecting that

“by the end of 2024, many private and public businesses will settle their payments via electronic payment, which will make it easier for everyone to accomplish many things.”

Requirements for conversion to electronic payment

The economic researcher, Ahmed Eid, agrees with what Mahmoud Dagher said about the

benefits of electronic payment, indicating that it has many advantages, including

“ease of trading,

guaranteeing traders’ funds, in addition to

raising cash deposit rates in banks and banks, and

reducing the factors of corruption and fraud.” And direct bribery in all current Iraqi state institutions, and

provides the opportunity to activate the oversight aspect of the movement of funds.”

But the shift to the electronic payment system through payment cards is not free of fraud - according to what Eid told Shafaq News Agency - whether by merchants when citizens shop, or by collecting additional amounts under the pretext of the withholding fees currently in effect in light of a very weak culture. To the community through electronic payment. Eid stresses

"the necessity of educating society about trading in it, and facilitating the opening of bank credits for citizens for the purpose of issuing electronic cards smoothly and without obstacles." He notes that

"there are gangs and mafias that exploit these cards to smuggle currency by withdrawing money outside the country, and control measures still greatly affect those residing outside Iraq, due to the fraud and smuggling operations carried out by these gangs."

On January 7, the Prime Minister, Muhammad Shiaa Al-Sudani, directed that citizens be spared additional financial burdens resulting from commissions, during a meeting devoted to following up on the financial and economic transformation to electronic payment, points of sale, and financial trading using electronic cards (POS).

Al-Sudani confirmed, according to a statement issued by his media office, that the goal is to facilitate dealing and facilitate payment in all fields, while ensuring the highest levels of security.

Demands the provision of POS devices in public places

Most markets and fuel filling stations lack POS devices, despite the Council of Ministers’ directives to implement the electronic payment system in state institutions, the private sector, commercial centers, stores, markets, and other entertainment facilities.

Citizens still lack the provision of POS devices, and

there are demands from the Central Bank, banks, and electronic payment companies to provide POS points of sale and make them accessible to citizens for use with electronic cards in shopping and paying instead of cash.

At the beginning of last June, the Central Bank of Iraq announced that Council of Ministers Resolution No. (23044) for the year 2023 had entered into force, which was to increase the number of electronic payment devices (POS) in government institutions and the private sector to enhance the culture of electronic payment and collection, and reduce the use of paper money in Collection and commercial transactions.

"Wataniya" company for electronic payment systems

It is noteworthy that the Board of Directors of the Central Bank of Iraq decided, on December 13, to establish the “National Company for Electronic Payment Systems” throughout the country, indicating that the company represents a qualitative development in the structure of the country’s financial infrastructure.

According to the Iraqi Central Bank statement, this step coincides with the rapid growth in electronic financial services and products and the rise in the number of users in accordance with the framework of the government program to support and adopt advanced electronic payment systems.

https://shafaq.com/ar/تقارير-وتحليلات/الدفع-ال-لكتروني-في-العراق-رادع-للفساد-والرشوة-ومخاوف-من-ثقافة-مالية-ضعيفة-لدى-الن-اس

To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/

Provoking Points To Ponder on Adversity:

There is often in people to whom "the worst" has happened an almost transcendent freedom, for they have faced "the worst" and survived it.- Carol Pearson

I didn't know I'd have to be torn down before I could be built up.- Anonymous

Suffering! ... We owe to it all that is good in us, all that gives value to life; we owe to it pity, we owe to it courage, we owe to it all the virtues.- Anatole France

It is only the women whose eyes have been washed clear with tears who get the broad vision that makes them little sisters to all the world.- Dorothy Dix

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

 Famous Quotes and Authors, Famous Quotations for all Occasions-

MilitiaMan: Iraq Dinar - Sovereignty - Exchange Rate - Oil & Gas Law - Internationalism - Global Exchange Rate

Iraq Dinar - Sovereignty - Exchange Rate - Oil & Gas Law - Internationalism - Global Exchange Rate

MilitiaMan and Crew:  1-9-2024

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=9b7D8sJrngY

Goldilocks' Comments and Global Economic News Tuesday Evening 1-9-24

 Goldilocks' Comments and Global Economic News Tuesday Evening 1-9-24

Good Evening Dinar Recaps,

Lawmakers are now taking cryptocurrency and blockchain regulations to their states. On January 5, the Blockchain Basics Act, a bill that aims to protect several blockchain and cryptocurrency rights, was introduced in the Nebraska Unicameral Legislature by Sen. Eliot Bolstar, putting the cornhusker state at the forefront of these initiatives.

The act seeks to guarantee the rights of Nebraskans to mine cryptocurrency without restrictions, exert the custody of their cryptocurrency assets, and transact with crypto. It also establishes the exemption of capital gains state taxes for cryptocurrency transactions under $200.  Bitcoin News Link

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Leveling the playing field for stablecoins 

The race for Stablecoin adoption is underway. Stablecoins represent a country's currency. The current technology is at T+1 settlement. The goal is to reach T + O settlement or instant settlement.

Patriot, the blockchain interbank payment network, already utilizes JP Morgan's Coin as a Deposit Token throughout the current banking system.  This network has already achieved near-zero instant payment system technology.

The goal is to create a Level Playing Field among countries and their payment systems through T+0 settlements. And, Stablecoins are the path forward to reach this goal collectively.

For a Stablecoin to qualify in digital payment systems going forward, they will need a stable price equivalent to the country's current regulated price on their currency. The use of gold backing each of these Stablecoins will help to achieve this goal.

© Goldilocks

Risk Link

Ledger Insights Link

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Russia and Iran step up de-dollarization drive with pact to shun the greenback in bilateral trade, report says

Russia and Iran have reportedly agreed to avoid the dollar in bilateral trade and use their own currencies instead.

The move is seen as part of the de-dollarization trend among nations to shift away from using the greenback in trade and investment.

Russia and Iran, both facing US economic sanctions, have been stepping up their cooperation.

Russia and Iran have entered into an agreement to avoid using the dollar in bilateral trade, relying instead on their own currencies, a new report says.   Business Insider Link

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Several states are beginning to construct gold and silver depositories across the United States.

This growing option for holding your money in precious Metals and utilizing it through the use of a debit card of some type is a growing trend that is rapidly progressing.

"Oklahoma Bill seeks to create gold and silver depository | KFOR.com Oklahoma City"

© Goldilocks

https://kfor.com/news/local/oklahoma-bill-seeks-to-create-gold-and-silver-depository/

https://www.congress.gov/bill/117th-congress/senate-bill/1351

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Digital Assets Market Poised For Mainstream Adoption, Anticipated Launch Of A Spot ETF Stands As Milestone In Bitcoin's History - Report    Crowdfund Insider Link

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XRP ETP Surfaces on Fidelity Investments Platform
https://thecryptobasic.com/2024/01/08/xrp-etp-surfaces-on-fidelity-investments-platform/

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In the next 24 hours, the CRYPTO World changes forever. It really doesn't matter if the spot Bitcoin ETF is accepted or not tomorrow because it will be.

Put simply, there's just too much money to be made in crypto for the big boys and girls to remain out of it within the companies that they own.

The new digital economy officially and spiritually will begin to change the world in ways we have never seen before.

The values we have placed on traditional assets will be valued differently through tokenized assets coming into play in the new digital economy.

© Goldilocks

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Exchange Stabilization Fund | U.S. Department of the Treasury
https://home.treasury.gov/policy-issues/international/exchange-stabilization-fundv

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ISO 20022.... LET'S DO IT

https://twitter.com/Rohitku24694375/status/1744789450490835326?t=sFVjGhAU5OWJb97MFPTL1A&s=35

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👆 Now, Ethereum wants their own ETF. The Digital Financial system is here my friends.

© Goldilocks

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SEC Account 'Compromised,' Announces False Spot Bitcoin ETF Approval.

SEC Chair Gary Gensler quickly refuted a post from the official SEC Twitter (X) account indicating the approvals.

https://www.thestreet.com/crypto/markets/sec-account-posts-fake-spot-bitcoin-etf-approval

👆 Not yet, tomorrow is the day we find out.

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Watch the Debt Clock at 6 pm ET tonight!   A Secret Message appears every Sunday, Tuesday, and Thursday at 6 pm ET.   Join the discussions in the Living Room as we try to decode the message!

Discussions ON THE DEBT CLOCK Topic begin at 6 pm ET
Join in the fun with your decoding ideas.
While the Debt Clock topic is being discussed please stay on topic. Off-topic comments during this time are subject to being removed. Thank you

The Living Room Link

The Debt Clock Link

The Debt Clock on the SOWT Website Link

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