MilitiaMan: Iraqi Dinar--International Praise for Iraq's Achievements - Unprecedented
Iraqi Dinar--International Praise for Iraq's Achievements - Unprecedented
MilitiaMan and Crew: 2-9-2024
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraqi Dinar--International Praise for Iraq's Achievements - Unprecedented
MilitiaMan and Crew: 2-9-2024
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Some "Thursday News" From KTFA 2-8-2024
KTFA:
Clare: Observer: Ending the mission of the United Nations office in Iraq takes Iraq out of Chapter Seven
2/7/2024
The United Nations office in Iraq takes Iraq out of Chapter Seven
Information / Baghdad..
On Wednesday, political observer Sabah Al-Ugaili called on Prime Minister Muhammad Shia Al-Sudani to end the work of the United Nations representation in Iraq, indicating that “if this matter were achieved, it would remove Iraq from Chapter Seven.”
Al-Ugaili told Al-Maalouma, “The time is right for Sudanese to ask the Secretary-General of the United Nations to end the work of its representation in Iraq, especially after Plasschaert announced the end of its mission in Iraq.”
KTFA:
Clare: Observer: Ending the mission of the United Nations office in Iraq takes Iraq out of Chapter Seven
2/7/2024
The United Nations office in Iraq takes Iraq out of Chapter Seven
Information / Baghdad..
On Wednesday, political observer Sabah Al-Ugaili called on Prime Minister Muhammad Shia Al-Sudani to end the work of the United Nations representation in Iraq, indicating that “if this matter were achieved, it would remove Iraq from Chapter Seven.”
Al-Ugaili told Al-Maalouma, “The time is right for Sudanese to ask the Secretary-General of the United Nations to end the work of its representation in Iraq, especially after Plasschaert announced the end of its mission in Iraq.”
He added, “Plasschaert’s request to end its mission and the Chinese representative’s recognition of the existence of a state of political and economic stability in Iraq gives Al-Sudani the opportunity to ask the Secretary-General of the United Nations to end the work of the United Nations office in Iraq, or at least reduce it, and then Iraq will exit Chapter Seven.”
The representative of the Secretary-General of the United Nations, Jeanine Plasschaert, had asked the Secretary-General of the United Nations that it was her mission in Iraq during her periodic briefing at the UN Security Council yesterday, Tuesday.
It is noteworthy that Iraq has been subject since 1990 to Chapter Seven of the United Nations Charter, which was imposed on it after Saddam’s regime invaded the State of Kuwait in August of the same year. This clause allows the use of force against Iraq as it constitutes a threat to international security, in addition to freezing large amounts of its financial assets in Iraq. International banks to pay compensation to those affected by the invasion. LINK
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Clare: Al-Sudani confirms: The Baghdad Metro project establishes an important shift in the movement of citizens in the capital, Baghdad
2/8/2024
Prime Minister Muhammad Shiaa Al-Sudani confirmed that the Baghdad Metro project establishes an important shift in the movement of citizens in the capital, Baghdad, whose population has exceeded 8 million people.
Al-Sudani said during the ceremony of launching investment opportunities for the Baghdad Metro and Karbala-Najaf Express Train projects that the project consists of 7 lines with a length of 148 km, and will cover most of the areas of Baghdad. The metro project also establishes a process of linking with the new cities that have been started, which is the Al-Jawahiri City, west of Baghdad. Ali Al-Wardi City, south of Baghdad, and New Sadr City, east of Baghdad.
He explained that these projects carry clear and significant economic feasibility for the private sector that is serious about implementing them.
He stressed that the announcement of these two projects represents a transition in the course of the government’s work from quick and simple projects, such as service and engineering effort projects, to major projects.
Al-Sudani explained that the work processes are continuing, as we have worked on these two projects, launched the development road project, and are directly supervising the completion of the Grand Faw Port project and concluding contracts for new cities.
He confirmed that the investment portfolio to rehabilitate and expand Baghdad International Airport will soon be completed.
Al-Sudani pointed out that all these projects lay the foundation for a development renaissance for the new Iraq, after years of neglect, poor planning, and corruption that affected all projects, especially infrastructure.
He stated that public transportation is a goal in which we will not limit ourselves to building bridges, overpasses, and tunnels, but rather we have an integrated vision for a package of several modern means of transportation for our capital.
He stressed that we are establishing a new philosophy of management through the state undertaking organization and planning, and paving the way for the technically capable private sector to undertake the implementation of these projects.
He continued: We cannot remain dependent on oil imports to implement all service projects.
Al-Sudani stressed that Iraq is witnessing a high growth rate, the highest among countries in the region.
He stated: We must create the requirements for an attractive and supportive investment environment to pave the way for the work of local, Arab and foreign companies.
He explained: We need the support of members of the House of Representatives, with its specialized committees, in supporting the state’s directions with legislation that paves the way for an investment-attractive environment.
Al-Sudani confirmed that we sent the draft economic amendments law, which includes several laws that we want to be in one package to save time, and many international companies are waiting for these amendments.
He also stressed that launching the “Year of Achievements” is not just a slogan, but rather within a vision that has been prepared since the writing of the government program, and is planned during the life of this government.
He stated: We established projects according to timings, and we raised the slogan: There is no slow project approved and implemented in this government, and we are continuing in this direction. LINK
Iraq Economic News and Points to Ponder Thursday Evening 2-8-24
Iraq Economic News and Points to Ponder Thursday Evening 2-8-24
Tlm724 Administrator Bondlady’s Corner
Washington: We Support The Sovereignty Of Iraq And Are Holding Talks With It About The American Military Situation There
Time: 02/08/2024 Read: 936 times {Politics: Al-Furat News} US National Security Council spokesman John Kirby announced Washington’s support for the sovereignty and unity of Iraq.
Kirby said in a press statement, "We have good relations with Iraq and we support its territorial sovereignty."
He added, "We are holding talks with Iraq about the American military situation in the country."
The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasool, announced in a brief statement this evening, a copy of which {Al-Furat News} received, that “to discuss and schedule the end of the international coalition’s mission in Iraq, the Supreme Bilateral Military Technical Committee between Iraq and the United States of America will resume its work next Sunday.”
It is noteworthy that Prime Minister Muhammad Shiaa Al-Sudani confirmed during his meeting with the Spanish Minister of Defense today that “the insistence on ending the international coalition’s mission in Iraq comes after the Iraqi forces gained advanced capabilities in combating terrorism, and the remnants of ISIS no longer pose a threat to the Iraqi state.”
Iraq Economic News and Points to Ponder Thursday Evening 2-8-24
Tlm724 Administrator Bondlady’s Corner
Washington: We Support The Sovereignty Of Iraq And Are Holding Talks With It About The American Military Situation There
Time: 02/08/2024 Read: 936 times {Politics: Al-Furat News} US National Security Council spokesman John Kirby announced Washington’s support for the sovereignty and unity of Iraq. Kirby said in a press statement, "We have good relations with Iraq and we support its territorial sovereignty."
He added, "We are holding talks with Iraq about the American military situation in the country."
The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasool, announced in a brief statement this evening, a copy of which {Al-Furat News} received, that “to discuss and schedule the end of the international coalition’s mission in Iraq, the Supreme Bilateral Military Technical Committee between Iraq and the United States of America will resume its work next Sunday.”
It is noteworthy that Prime Minister Muhammad Shiaa Al-Sudani confirmed during his meeting with the Spanish Minister of Defense today that “the insistence on ending the international coalition’s mission in Iraq comes after the Iraqi forces gained advanced capabilities in combating terrorism, and the remnants of ISIS no longer pose a threat to the Iraqi state.” LINK
Will The Banking System Collapse In Iraq? A Former Director Of The Central Bank Answers
Money and business Economy News - BaghdadOn Thursday, Mahmoud Dagher, an economist and former director general of the Central Bank, ruled out the collapse of the banking system in Iraq following the sanctions imposed by the US Treasury on a group of banks in the country.
Dagher said in an interview followed by Al-Iqtisad News, "The collapse of the banking system due to these sanctions and restrictions will not happen despite the continued pressure of this intensity that is harming these banks."
He added that there are no real reasons for these sanctions, adding that the US Treasury only restricted these banks from obtaining the dollar.
Dagher stated, “Because there are no reasons, and because the case is suspicious, it is not a penalty, but rather a restriction on those banks, but it results in harm to them, to the people, and to the import financing process.”
He stated that the penalties were based on banks dealing with suspicious financial transfers during the past year 2023.
The day before yesterday, Tuesday, Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, called on the United States of America to reconsider the sanctions imposed on 21 Iraqi banks that contribute to financing the food basket items for families with limited income, as the Iraqi Ministry of Foreign Affairs announced on Wednesday.
In July 2023, the US Treasury Department imposed sanctions on 14 Iraqi banks in a crackdown on Iran’s dollar transactions.
An official document issued by the Central Bank of Iraq this February showed that 8 Iraqi banks were banned from participating in the foreign currency buying and selling window.
Iraq has more than 70 private banks, a relatively new feature in a sector that was almost entirely under state control until the fall of Saddam Hussein's regime after the US invasion in 2003.
213 views 02/08/2024 - https://economy-news.net/content.php?id=40275
Prime Minister: The Government Has Placed Combating Corruption At Its Top Priority
Economy News – Baghdad Prime Minister Muhammad Shiaa Al-Sudani confirmed on Thursday that the government has placed combating corruption at its top priority.
The Prime Minister’s Media Office said in a statement, seen by Al-Iqtisad News, that “Prime Minister Muhammad Shiaa Al-Sudani received the head of the Lebanese National Anti-Corruption Authority, Judge Claude Karam.”
Al-Sudani pointed out - during the meeting - that "the Iraqi government has placed the fight against corruption at the top of its priorities, and has made the cooperation of brotherly and friendly countries with Iraq on the issue of recovering stolen and wanted funds a criterion for successful diplomatic relations with those countries."
The statement added, "The meeting witnessed a discussion of requests for legal assistance, procedures for extraditing those wanted in corruption cases, recovering stolen funds, exchanging information regarding the accused and wanted persons, and emphasizing the importance of exchanging experiences and techniques that raise the efficiency of workers in the field of combating corruption in the two countries." Views 54 02/08/2024 https://economy-news.net/content.php?id=40288
Oil Rises Due To Strong Demand For Fuel In America
Mawazine News – Baghdad Oil prices recorded an increase during early Thursday trading, after Israel rejected a proposal from the Palestinian Hamas movement for a ceasefire, while talks continue to try to end the ongoing conflict in Gaza and tensions in the Middle East in general, which have cast a shadow on the market since October.
Indications of strong demand for fuel in the United States also supported the market's upward trend this week.
By 01:32 GMT, Brent crude futures rose 22 cents, or 0.28 percent, to $79.43 per barrel, and US West Texas Intermediate crude futures increased 19 cents, or 0.26 percent, to $74.05 per barrel.
https://www.mawazin.net/Details.aspx?jimare=241759
Dollar Exchange Rates Recorded A Slight Increase In 7 Governorates
Thursday 08, February 2024 18:36 | Economical Number of readings: 302 Baghdad / NINA / The exchange rates of the dollar against the dinar recorded a slight increase this evening, Thursday, in 7 Iraqi governorates. Below is a list of the dollar selling price:
Baghdad 152,350 Erbil 152,200 Basra 152,500 Najaf 152,400 Nineveh 152,300 Kirkuk 152,300 Sulaymaniyah 152,300. https://ninanews.com/Website/News/Details?key=1105551
To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/
Points To Ponder on Anxiety about the Future Quotes and Quotations
He that fears not the future may enjoy the present. - Thomas Fuller
Grief and constant anxiety kill nearly as many women as men die on the battlefield. - Mary Bokin Chesnut
To tremble before anticipated evils is to bemoan what thou hast never lost. - Johann von Goethe
He who foresees calamities suffers them twice over. - Beilby Porteous
He who fears he shall suffer already suffers what he fears. - Michel de Montaigne
If you are afraid for your future, you don't have a present. - James Petersen
http://famousquotesandauthors.com/topics/anxiety_about_the_future_quotes.html
Goldilocks' Comments and Global Economic News Thursday Evening 2-8-24
Goldilocks' Comments and Global Economic News Thursday Evening 2-8-24
Good Evening Dinar Recaps,
Joint Statement on the U.S.-UK Financial Regulatory Working Group
Folks, several financial governing bodies have been working together to create new leverage mechanisms that will level the playing field between countries around the world.
There is a growing understanding that these new Digital Payment Systems will create new Global Currency Values going forward.
The following article represents an accumulation of several working bodies in the financial payment sector collaborating new efforts for equalizing trade mechanisms on a Global scale going forward.
This is all part of leveling the playing field we have talked about many times among countries to allow everyone to move forward together inside a new Digital Asset Based Trading System. Treasury UK Gov
© Goldilocks
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Goldilocks' Comments and Global Economic News Thursday Evening 2-8-24
Good Evening Dinar Recaps,
Joint Statement on the U.S.-UK Financial Regulatory Working Group
Folks, several financial governing bodies have been working together to create new leverage mechanisms that will level the playing field between countries around the world.
There is a growing understanding that these new Digital Payment Systems will create new Global Currency Values going forward.
The following article represents an accumulation of several working bodies in the financial payment sector collaborating new efforts for equalizing trade mechanisms on a Global scale going forward.
This is all part of leveling the playing field we have talked about many times among countries to allow everyone to move forward together inside a new Digital Asset Based Trading System. Treasury UK Gov
© Goldilocks
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"The WTO's Global Review of Aid for Trade, scheduled for 26-28 June, aims to integrate trade into development strategies under the theme 'Mainstreaming Trade'. This event addresses supply-side constraints that hinder the participation of developing economies and LDCs in global trade."
LDC stands for least developed countries. In 2021, the least developed countries have been exporting primarily oil, gold, copper, and clothes. The shift to encouraging agricultural exports has been underway ever since that time, and this is beginning to help encourage more trading revenue in the commodity sector that will allow them to compete with some of the larger countries.
This article is telling us that Economic Development between countries are in process of being reformed through the World Trade Organization. Economic development effects currency appreciation as changes to trade ratios create improvement in the standard of living through the World Trade Organization.
We talked about this not too long ago. Countries are working with the WTO in making some of these changes since the early part of this year in late part of last year. These changes improve the quality of living in a country's revenue inspiring new demands on their currency and their values.
There is a meeting this month to go over contracts and establish new trade ratios based upon new demands in countries around the world for goods and services.
Later this year we are reading about a conference that will be held to focus on supply side issues in these Global Trade mechanisms. These shifts will create a More Level Playing Field between countries and new price pressures on their local currencies fulfilling these orders. BNN Breaking ACS AEC
Watch the water.
© Goldilocks
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World’s Best Supply Chain Finance Providers 2024
Technological advancements in digitalization and automation have made supply chain finance (SCF) more accessible and efficient, which has led to a proliferation of platforms and solutions that streamline the processing of invoices and payments, making it easier for companies of all sizes to implement SCF programs.
The increased complexity of supply chains makes managing working capital efficiently much more challenging. SCF can bridge the gap between payment terms and the actual flow of goods—helping buyers and suppliers improve their cash flow by accelerating receivables for suppliers and extending payables for buyers. https://gfmag.com/banking/worlds-best-supply-chain-finance-providers-2024/
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Cybersecurity remains number one risk for global banks | Fin Extra
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Hong Kong General Chamber Of Commerce Urges Government To Consider Yuan-Linked Stablecoin
The Hong Kong submitted proposals for the city’s upcoming budget, asking policymakers to allow the issuance of a stablecoin in China’s yuan.
It said in a Feb. 6 statement that the stablecoin could be be backed by the yuan or a basket of various fiat currencies, including the yuan, Hong Kong dollar and USD stablecoins. Inside Bitcoins
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Swiss Fintech Trade Group Details Vision of “Tokenized Finance” - Fintech Schweiz Digital Finance News - FintechNewsCH
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5G Promises Connected Consumers More Personalized Banking | Pymnts
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"Established in 1964 as a permanent intergovernmental body United Nations Conference on Trade and Development (UNCTAD) is the main authority of the General Assembly in the sphere of trade and development. Its purpose is promotion of trade and development, particularly in developing countries."
The UNCTAD is currently calling for immediate reforms to the global debt framework such as the WTO we have been talking about today to avoid a widespread debt crisis within developing countries.
Many of the decisions you are seeing today on payment systems have had their roots in many years of discussions to get to this point. We are witnessing an implementation stage in the new digital economy taking place as we speak.
When Protocol 20 begins to connect Quantum Technologies from around the world, you are going to see many of the workings of these collective payment bodies from around the world began to implement and formulate new value structures on our new Global economy.
We are witnessing pressures to move forward with a new Financial System from all sides of the world at this time. Volatility in the market is expected, and it will shake out old price patterns and formulate new ones in the transformation of these traditional assets becoming tokenized inside a new commodity-based system. UNCTAD Economy Gov
© Goldilocks
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How does the Soroban Smart Contract Platform work?
https://youtu.be/vV8FLaz1gXY?feature=shared
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Stellar | Soroban | Smart Contracts Platform on Stellar | Stellar
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"Hong Kong is among first to propose crypto reserve requirements for banks aligned with new international standards."
This will go a long way to help approve those stablecoins that are in Hong Kong's current pilot program.
Creating synergistic payment programs between the banking system and crypto through pegging their stablecoins with commodity assets will give a real value to their digital economy and those that trade with them in the sandbox being tested and soon to be regulated. SCMP
© Goldilocks
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"Tidbits From TNT" Thursday 2-8-2024
TNT:
Tishwash: The best in the region... international praise for the infrastructure of electronic payment systems in Iraq
The World Bank confirmed on Wednesday that the infrastructure for electronic payment systems in Iraq is the best in the region.
A statement from the Central Bank received by Mawazine News stated, “The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received a delegation from the World Bank headed by the Director of the World Bank’s office in Iraq, Richard Abdel Nour.”
He added, "During the meeting, strengthening bilateral cooperation between the Central Bank of Iraq and the World Bank was discussed, and electronic payment projects and financial inclusion were discussed, as well as reform programs to enhance the stability and development of the financial sector."
TNT:
Tishwash: The best in the region... international praise for the infrastructure of electronic payment systems in Iraq
The World Bank confirmed on Wednesday that the infrastructure for electronic payment systems in Iraq is the best in the region.
A statement from the Central Bank received by Mawazine News stated, “The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received a delegation from the World Bank headed by the Director of the World Bank’s office in Iraq, Richard Abdel Nour.”
He added, "During the meeting, strengthening bilateral cooperation between the Central Bank of Iraq and the World Bank was discussed, and electronic payment projects and financial inclusion were discussed, as well as reform programs to enhance the stability and development of the financial sector."
He explained, "The two parties discussed the support of the World Bank to provide advice in establishing the Riyada Bank dedicated to financing small projects in Iraq, with the support of the International Finance Corporation."
In turn, the World Bank delegation praised “the Central Bank of Iraq’s procedures in facilitating financial transfers to different segments in Iraq,” noting that “the infrastructure for electronic payment systems and software systems in Iraq is among the best systems in the region.” link
CandyKisses: Iraq calls on Washington to return to negotiations to discuss the future of the “coalition”
February 8, 2024 01:22
Aletihad.ae news-The Iraqi Ministry of Foreign Affairs announced yesterday that Foreign Minister Fuad Hussein stressed in a phone call with US Secretary of State Anthony Blinken the necessity of returning to dialogue and the negotiating table to discuss the future of the international military coalition led by the United States in Iraq.
The talks between the two countries began in January, but less than 24 hours later, three American soldiers were killed in an attack on the Syrian-Jordanian border, which led to the talks stopping since then.
The Iraqi Foreign Ministry statement said that during his call with Blinken, Hussein stressed the Iraqi government’s rejection of such attacks and informed him that “Iraq is not an arena for settling scores between rival countries.”
The United States has 2,500 soldiers in Iraq who provide advice and assistance to local forces to prevent the return of the terrorist organization ISIS, which in 2014 took control of large parts of Iraq and Syria before its defeat.
After the withdrawal, Iraq is keen to establish bilateral relations with coalition members, including military cooperation in the field of training and equipment.
Hussein formally called on the US Treasury Department to reconsider the sanctions it imposed on several Iraqi banks, and asked whether those sanctions had been imposed due to compliance issues or “for other political reasons.”
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CandyKisses: "Bombing Baghdad". Khazali calls for official action towards UN Security Council
Shafaq News / The Secretary-General of Asaib Ahl al-Haq, Qais al-Khazali, on Thursday, that "denunciations and condemnations are no longer enough," in a comment on the assassination of Kataib Hezbollah leader "Abu Baqer" by US bombing yesterday in Baghdad.
Al-Khazali said in a tweet on the X website published at an advanced hour, that "the continued American attacks on Iraqi lives, and the violation of the sovereignty of our country, is evidence of the American disregard and disregard for the Iraqi government and people."
He added, "It is clear that it is not in the process of stopping this underestimation and recklessness, but rather it continues its attacks, despite the positive steps taken by the esteemed Iraqi government, and the commitment to calm by the honorable resistance factions."
"It is clear that denunciations and condemnations are no longer enough, which necessitates the need for Iraq to submit an official request to the UN Security Council, demanding the immediate withdrawal of foreign forces," he said.
Khazali also stressed that "Iraq should start implementing practical measures to strengthen its self-defense capabilities against any external aggression."
In this context, according to Khazali's tweet, "the support and solidarity of the Iraqi people becomes essential for the success of these decisive steps, towards restoring full sovereignty over Iraqi territory and airspace, and fortifying the national economy."
The Iraqi Security Media Cell held the United States of America and the international coalition responsible for the repercussions of the killing of "Abu Baqer" and his companions as a result of an aerial bombardment by a drone that targeted a wheel they were traveling in east of the capital, Baghdad.
Meanwhile, an authorized source in the cell said, "Those who targeted a wheel carrying two leaders of the Popular Mobilization Forces in the Mashtal area, east of the capital, Baghdad, are American drones that penetrated Iraqi airspace."
In turn, Kataib Hizbullah confirmed in a statement the death of Wissam Mohammed Saber (Abu Baqir al-Saadi) following the shelling of US forces in Baghdad.
On Wednesday, the US Central Command claimed responsibility for the attack that targeted Kataib Hezbollah leader Abu Baqir al-Saadi in the Mashtal area, east of Baghdad, and said he was responsible for attacks targeting its forces in the area.
Mot: Where is it!!!????
Mot: How many of you thought this was filmed in the ocean
MilitiaMan: Iraq Dinar - Formula for New Pricing - Al -Sudani - Opportunity - Exit Chapter VII - UN Mission Over
Iraq Dinar - Formula for New Pricing - Al -Sudani - Opportunity - Exit Chapter VII - UN Mission Over
MilitiaMan and Crew: 2-8-2024
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Dinar - Formula for New Pricing - Al -Sudani - Opportunity - Exit Chapter VII - UN Mission Over
MilitiaMan and Crew: 2-8-2024
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraqi News Highlights and Points to Ponder Thursday AM 2-8-24
Iraqi News Highlights and Points to Ponder Thursday AM 2-8-24
A Former Central Bank Official Rules Out The Collapse Of The Iraqi Banking System As A Result Of US Sanctions
2024-02-08 Shafaq News/ Mahmoud Dagher, an economist and former general director of the Central Bank, ruled out, on Thursday, the collapse of the banking system in Iraq following the sanctions imposed by the US Treasury on a group of banks in the country.
Dagher said in an interview with Shafaq News Agency, "The collapse of the banking system due to these sanctions and restrictions will not happen despite the continued pressure of this intensity that is harming these banks."
He added that there are no real reasons for these sanctions, adding that the US Treasury only restricted these banks from obtaining the dollar.
Dagher stated, “Because there are no reasons, and because the case is suspicious, it is not a penalty, but rather a restriction on those banks, but it results in harm to them, to the people, and to the import financing process.”
He stated that the penalties came based on the banks’ dealings with suspicious financial transfers during the past year 2023.
Iraqi News Highlights and Points to Ponder Thursday AM 2-8-24
A Former Central Bank Official Rules Out The Collapse Of The Iraqi Banking System As A Result Of US Sanctions
2024-02-08 Shafaq News/ Mahmoud Dagher, an economist and former general director of the Central Bank, ruled out, on Thursday, the collapse of the banking system in Iraq following the sanctions imposed by the US Treasury on a group of banks in the country.
Dagher said in an interview with Shafaq News Agency, "The collapse of the banking system due to these sanctions and restrictions will not happen despite the continued pressure of this intensity that is harming these banks."
He added that there are no real reasons for these sanctions, adding that the US Treasury only restricted these banks from obtaining the dollar.
Dagher stated, “Because there are no reasons, and because the case is suspicious, it is not a penalty, but rather a restriction on those banks, but it results in harm to them, to the people, and to the import financing process.”
He stated that the penalties came based on the banks’ dealings with suspicious financial transfers during the past year 2023.
The day before yesterday, Tuesday, Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, called on the United States of America to reconsider the sanctions imposed on 21 Iraqi banks that contribute to financing the food basket items for families with limited income, as the Iraqi Ministry of Foreign Affairs announced on Wednesday.
In July 2023, the US Treasury Department imposed sanctions on 14 Iraqi banks in a crackdown on Iran’s dollar transactions.
An official document issued by the Central Bank of Iraq this February showed that 8 Iraqi banks were banned from participating in the foreign currency buying and selling window.
Iraq has more than 70 private banks, a relatively new feature in a sector that was almost entirely under state control until the fall of Saddam Hussein's regime after the US invasion in 2003. LINK
Cairo Fines Baghdad A Billion Dollars Following A Contract That Was “Not Implemented”..Parliamentary Doubts About “Selling The File”
Money and business Economy News – Baghdad Baghdad lost about a billion dollars to Cairo for not complying with a contract with an Egyptian company concluded in 2001 that it did not implement, in a case before a court in Cairo, in which the complainant and the lawyers were Egyptian, according to a member of the Parliamentary Transport and Communications Committee.
According to a decision by the Egyptian Arbitration Court, Iraq must pay $927 million in compensation to an Egyptian aviation services company called “Horse” that was previously contracted with, but the Iraqi Airways Company and the Ministry of Transport did not comply with it.
In this context, a member of the Parliamentary Economics and Communications Committee, Karwan Yarois, explains that there are doubts that “the file was sold in some way because it is not true,” according to the Rudaw network.
He pointed out that "the complainant is an Egyptian company, and the arbitration court is in Egypt, and the Iraqi lawyer's team consists of two Egyptian lawyers, one of whom is an employee of Iraqi Airlines itself."
It is not permissible in law for an employee to “practice law at the same time,” according to Karwan Yarois, who revealed that the Egyptian employee “was contracted as a lawyer in the case for $400,000.”
Information indicates that the value of the contract amounted to $97 million, while compensation was set at $927 million.
For its part, the Iraqi government began negotiations with the Egyptian government to pay this amount through crude oil.
In turn, Yasser Al-Husseini, a member of the Parliamentary Economics Committee, confirms that the compensation “burdens the government’s burden and causes a waste of public money and many financial violations, and next week we will have an announced position on all issues and take it towards the judiciary and the government to address this matter”...
The decision of the Egyptian Arbitration Court to impose compensation of $927 million on Iraq because of the “Horse” company comes while it had been classified by an Egyptian court decision on (October 25, 2015) as a company affiliated with the Muslim Brotherhood and included in the list of banned companies.
According to follow-ups conducted by the Iraqi Parliament, the contract dates back to 2001, and the previous regime concluded it for the motive of espionage and for political purposes, but in 2005 Iraq renewed this contract again, resulting in the loss of millions of dollars.
205 views 02/08/2024 - https://economy-news.net/content.php?id=40265
Monday: The Launch Of The World Government Summit In Dubai
Thursday 08, February 2024 | General Number of readings: 278 [rtl]Dubai / NINA / The World Government Summit will kick off in Dubai next Monday under the slogan “Foreseeing the Governments of the Future” and will last for three days.
The new edition of the summit explores future opportunities and challenges and the most prominent challenges facing the world in a number of pressing issues. It also discusses ways to reach common visions to advance government work, strengthen cooperation between governments of the world, exchange experiences, and focus on inspiring stories and models in government work that have left positive impacts and brought about change. Real in the reality of their countries and societies.
The summit brings together 120 government delegations and more than 85 international and regional organizations and global institutions, in addition to an elite group of global thought leaders and experts, in the presence of more than 4,000 participants.
In its new session, the summit includes 6 main themes and 15 global forums that discuss major global future trends and transformations in more than 110 main dialogue and interactive sessions, in which 200 international personalities, including presidents, ministers, experts, thinkers and future makers, speak, in addition to holding more than 23 ministerial meetings. An executive session was attended by more than 300 ministers.
The summit launches 25 strategic reports in cooperation with knowledge partners from think tanks and academic and research institutions, with the aim of studying global trends in various sectors and providing implementable government strategies. https://ninanews.com/Website/News/Details?Key=1105463
Washington's Sanctions Restrict Baghdad's Economy.. Banks Are In A "Dilemma" And The Iraqi Central Bank Is A "Spectator"
Posted On 02-08-2024 By Sotaliraq February 7 The banking sector in Iraq is experiencing unenviable days, as a result of the succession of US sanctions on banks one after another, which portends an economic “disaster” that the government will face sooner or later, with exchange rates fluctuating above the barrier of 150,000 for every 100 dollars.
The US Treasury Department imposed sanctions on 14 banks, according to what was revealed by the Wall Street Journal, and these sanctions come months after similar sanctions were imposed on 4 other Iraqi banks after they were accused of various pretexts and pretexts, including money laundering.
The US sanctions are raising a new wave of concern among Iraqis, especially since all government measures during the government of Prime Minister Muhammad Shiaa al-Sudani did not succeed in bringing the parallel exchange rate closer to the official rate.
Earlier today, Foreign Minister Fuad Hussein and US Secretary of State Anthony Blinken discussed the sanctions imposed by the US Treasury on Iraqi banks.
Member of the House of Representatives, Zainab Al-Moussawi, revealed the reason for the US Treasury Department placing economic sanctions on some Iraqi banks, and while she described Washington’s arguments as “false,” she stressed the necessity of getting rid of Iraq’s dependence on the dollar.
Al-Moussawi said, in an interview, that “the American administration always resorts to punishing Iraq by placing solid institutions under the control of the Iraqi state, as it did recently by placing several banks on the US Treasury Department’s sanctions list under a false pretext with no concrete evidence.”
She adds, “Washington is working to punish Iraqi banks in order to reduce the value of the Iraqi dinar and raise the value of the US dollar in a move to humiliate Iraq and request assistance from Washington in supplying the country with foreign currency.”
The member of the House of Representatives stresses “the necessity of changing Iraq’s dependence on the dollar by selling crude oil, the only source of the Iraqi state, and selling it in other foreign currencies such as the Chinese yuan, the Russian ruble, and other currencies that have strength and authority in global markets, and leaving American hegemony over the Iraqi economy.”
Al-Mousawi explains, “The US Treasury sanctions will obstruct the flow of remittances, afflict the Iraqi banking sector with chaos, and also affect the internal exchange rate greatly, and this is what Washington is currently following LINK
Parliamentary Bodies Talk About “Boycotting The American Ambassador” And Clarify “Washington’s Agenda” In Baghdad
Politics |Baghdad Today – Baghdad Parliamentary authorities confirmed that the decision to boycott US Ambassador Elena Romanski already exists, while referring to the "Washington agenda", which it wants to implement in Baghdad.
A member of the coordination framework, Muhammad Al-Baldawi, said today, Thursday (February 8, 2024), that “boycotting the meeting with the American ambassador to Iraq is an existing decision and it is a general trend in response to violations, but the issue went beyond the topic of the meeting, whether it should remain or be recalled.”
Al-Baldawi added in an interview with “Baghdad Today”: “We are facing major crimes committed by Washington against the leaders of the Popular Mobilization Forces and the Iraqi resistance factions through the attempt of the evil state - in reference to America - to drag Iraq and the region into war and ignite strife in implementation of its policies of setting fires in countries.” .
He pointed out, "Although the Iraqi resistance factions and their coordination have suspended targeting the American occupation bases, the latter is working with all its efforts to drag the factions, the resistance and Iraq into the war," pointing out that "it is necessary to send an urgent message to the United Nations, the Security Council, and the coalition leadership to withdraw the forces present in "The country."
He stated, "It is necessary for the United Nations to work in accordance with the Charter and hold accountable the countries that ignite wars in the region," noting that "what happened yesterday is aggression and a blatant violation of the country's sovereignty that cannot be tolerated, and the removal of American forces is a national demand of all factions."
On (January 28, 2024), the independent representative in the Iraqi parliament, Sajjad Salem, commented on the formation of a joint military committee between Iraq and the United States of America in order to remove foreign forces from Iraqi territory.
Salem told "Baghdad Today", "According to the strategic framework agreement between Baghdad and Washington, there are joint committees between the two parties, and these committees discuss security and military preparations, discuss threats, and end the work of the international coalition and remove foreign forces from the work and jurisdiction of the Iraqi security forces. They are Those most capable of identifying Iraq still need the presence of international coalition forces and to estimate the extent of the risks and threats that Iraq faces.”
He added, "The formation of a joint military committee between Iraq and the United States of America came due to the recent events that Iraq witnessed, including escalation between some factions and the Americans and mutual bombing operations, but whether American forces remain or not must be according to the estimates of the Iraqi forces, as this is a technical and security aspect." "It must be far from whims and political agenda."
On January 27, 2024, the first round of bilateral dialogue between Iraq and the United States was launched to end the mission of the international coalition against ISIS, which Baghdad hopes will lead to a gradual reduction of coalition forces on its territory. LINK
Iran Has The Least Share In Kurdistan. Most Investors Are Lebanese And Turkish, With $10 Billion
Posted On 02-08-2024 By Sotaliraq The Kurdistan Investment Authority says that foreign companies have implemented 45 projects since 2006 with a capital amounting to $10 billion, most of them Turkish and Lebanese, while confirming the participation of America and Iran in this.
Pashtwan Hama Saeed - Director of the Kurdistan Investment Authority, Network 964:
The volume of foreign investment in Kurdistan amounts to $10 billion, and the foreign companies investing in the region are Turkish, Iranian, Lebanese, Russian, Emirati, American and Chinese.
From 2006 until the end of 2023, foreign companies implemented 45 investment projects with a capital of $10 billion in the region.
Turkish companies occupy first place in the region’s investments with 17 projects, followed by Lebanese companies with 10 projects, while Iranian companies have the lowest “independent shares” in the region.
Recently, 29 joint projects were agreed upon between Iraqi and foreign companies in the Kurdistan region. LINK
Iraq Economic News and Points to Ponder Late Wednesday Evening 2-7-24
Iraq Economic News and Points to Ponder Late Wednesday Evening 2-7-24
Tlm724 Administrator Bondlady’s Corner
Iraq Calls On The US Treasury To Reconsider The Sanctions Imposed On Private Banks
Economy | 10:19 - 02/07/2024 Mawazine News – Baghdad The Iraqi Ministry of Foreign Affairs called on the US Treasury to reconsider the decision to impose sanctions on some private banks.
The Ministry of Foreign Affairs stated in a statement received by Mawazine News, “The Deputy Prime Minister and Minister of Foreign Affairs received a phone call yesterday evening from US Secretary of State Anthony Blinken, as part of following up on the most prominent developments and regional and international issues of common interest.”
The statement added, "The Minister of Foreign Affairs touched on the sanctions imposed by the US Treasury on seven Iraqi banks recently, which were preceded by sanctions on fourteen Iraqi banks, as the reasons behind the imposition of such sanctions were not stated, and whether Washington's imposition of these sanctions was a “Because of the lack of discipline of these banks in implementing instructions and banking compliance rules, or for other political reasons, especially since the US Treasury Department is in constant communication with the Central Bank of Iraq.”
Iraq Economic News and Points to Ponder Late Wednesday Evening 2-7-24
Tlm724 Administrator Bondlady’s Corner
Iraq Calls On The US Treasury To Reconsider The Sanctions Imposed On Private Banks
Economy | 10:19 - 02/07/2024 Mawazine News – Baghdad The Iraqi Ministry of Foreign Affairs called on the US Treasury to reconsider the decision to impose sanctions on some private banks.
The Ministry of Foreign Affairs stated in a statement received by Mawazine News, “The Deputy Prime Minister and Minister of Foreign Affairs received a phone call yesterday evening from US Secretary of State Anthony Blinken, as part of following up on the most prominent developments and regional and international issues of common interest.”
The statement added, "The Minister of Foreign Affairs touched on the sanctions imposed by the US Treasury on seven Iraqi banks recently, which were preceded by sanctions on fourteen Iraqi banks, as the reasons behind the imposition of such sanctions were not stated, and whether Washington's imposition of these sanctions was a “Because of the lack of discipline of these banks in implementing instructions and banking compliance rules, or for other political reasons, especially since the US Treasury Department is in constant communication with the Central Bank of Iraq.”
He pointed out that "those banks have an important and major role in financing ration card expenses and providing food baskets to Iraqi families with limited income," officially calling for "a reconsideration of the US Treasury's decision on the issue."
He pointed out "Iraq's keenness to build partnerships and cooperation with friendly countries and to work jointly towards confronting economic and security challenges in a way that supports the consolidation of stability in the region." https://www.mawazin.net/Details.aspx?jimare=241716
Bank Of Jordan: Iraq Includes A Strategic Market That Has The Elements Of Successful Investment
Wednesday 07, February 2024 15:41 | Economical Number of readings: 465 Baghdad / NINA / The Bank of Jordan Group confirmed its keenness to be present in the Iraqi market and reach joint investments between Iraq and Jordan.
The group’s general manager, Saleh Hammad, said in press statements today, Wednesday, that “joint investments need financial products and services that meet all the requirements of the various segments of businessmen, investors, and companies.”
He added, "The value that any external institution will add to Iraq is the new technology that it can introduce on the basis of providing financial services," noting that "Iraq includes a strategic investment market that has the elements of successful investment."
The Bank of Jordan was the diamond sponsor of the activities of the Jordanian-Iraqi Economic Integration Forum held in Baghdad late last month (1/29-30/20234). This event is considered an opportunity to strengthen and develop economic and trade relations between Jordan and Iraq through exchanging experiences and building strategic partnerships that enhance Cooperation between the two countries.
The Bank of Jordan’s sponsorship of the Jordanian-Iraqi Economic Integration Forum comes after the inauguration of the first branch of the Bank of Jordan in Iraq, as part of the Bank of Jordan’s comprehensive strategic plan to expand its business in the Arab region, and create development projects aimed at maximizing the benefit from the capabilities available between the two countries, in addition to achieving the best levels of Integration and partnership in all economic, investment and trade fields.
The activities of the Jordanian-Iraqi Economic Integration Forum, in the presence of a number of ministers, officials, representatives of official and governmental bodies from Jordan and Iraq, and businessmen from various sectors, included a variety of sessions and discussions that focused on various economic sectors and opportunities available to companies and investors in Jordan and Iraq. And discuss topics of trade and investment, infrastructure development, innovation and technology, education and vocational training, and financial and banking issues./End
Oil Rises As Fears Of Excess Supply Ease
Economy | - 02/07/2024 Mawazine News – Baghdad Oil prices rose today, Wednesday, in light of expectations that US oil production growth will remain largely stable until 2025, which eases fears of excess supply.
Brent crude futures increased 38 cents, or 0.5%, to $78.97 per barrel by 00:13 GMT, while US West Texas Intermediate crude increased 41 cents, or 0.6%, to $73.72. Both crude oil prices rose slightly on Monday.
Yesterday, Tuesday, the US Energy Information Administration said in its short-term energy forecasts: “US domestic production will not exceed the record recorded in December 2023, which is more than 13.3 million barrels per day, until February 2025,” according to Reuters. It
also reduced The EIA also forecasts domestic oil production growth in 2024 of 120,000 bpd to 170,000 bpd, which is down sharply from last year's production increase of 1.02 million bpd.
https://www.mawazin.net/Details.aspx?jimare=241721
Washington Renews Its Support For The Iraqi Government In The Field Of Economic Cooperation
Economy | 10:06 - 02/07/2024 Mawazine News – Baghdad The United States of America renewed its keenness to continue joint work and communication between the two sides, and to support the Iraqi government in various fields, especially in the field of economic cooperation.
A statement by the Iraqi Ministry of Foreign Affairs, received by Mawazine News, stated, “The Deputy Prime Minister and Minister of Foreign Affairs received a phone call yesterday evening from US Secretary of State Anthony Blinken, as part of following up on the most prominent developments and regional and international issues of common interest.”
He added, "During the call, the attacks launched by the United States of America on military and civilian sites in the Akashat and Al-Qaim regions were discussed, which targeted Iraqi security forces and resulted in the martyrdom of a number of security forces and Iraqi civilians."
The Deputy Prime Minister and Minister of Foreign Affairs affirmed "the Iraqi government's rejection of such attacks and the need to stop them and for Iraq not to be an arena for settling scores between rival countries," stressing the need to return to the dialogue and negotiation table within the framework of the meetings of the Supreme Military Committee.
The two sides also stressed the importance of working to strengthen the partnership. The strategy between the two countries and continued coordination and consultation during the coming period to pursue joint action paths in order to confront the growing challenges in the region.”
Hussein touched on “the sanctions that were imposed by the US Treasury on seven Iraqi banks recently, which were preceded by sanctions on fourteen Iraqi banks, as the reasons behind the imposition of such sanctions were not explained, and whether Washington’s imposition of these sanctions came due to the lack of discipline of these sanctions.”
Banks in implementing instructions and banking compliance rules, or for other political reasons, especially since the US Treasury Department is in constant communication with the Central Bank of Iraq.”
He pointed out that "those banks have an important and major role in financing ration card expenses and providing food baskets to Iraqi families with limited income.
The minister officially requested that the US Treasury’s decision on the matter be reconsidered, and he pointed to Iraq’s keenness to build partnerships and cooperation with friendly countries and work Joint efforts to confront economic and security challenges in a way that supports the consolidation of stability in the region.”
For his part, the Minister of Foreign Affairs stressed his keenness to “continue joint work and communication between the two sides, and to support the Iraqi government in various fields, especially in the field of economic cooperation.” https://www.mawazin.net/Details.aspx?jimare=241715
The Minister Of Finance Stresses The Necessity Of Working According To Electronic Governance Methods
Economy | 01:00 - 02/07/2024 Mawazine News - Baghdad, Minister of Finance, Taif Sami Muhammad, stressed today, Wednesday, the necessity of working according to electronic governance methods and adopting automation.
A statement from the Ministry received by Mawazine News stated, “In the presence of the Minister of Finance, Taif Sami Muhammad, and under the supervision of the Director General of the Accounting Department, Jamil Thajib Yousef, the Director of the Treasury Audit Department, and the Director of Treasury Affairs, the Accounting Department in the Ministry of Finance opened, today, the new office of the Baghdad Governorate Treasury at its headquarters.”
The Ministry, which is concerned with completing compensation transactions for the families of martyrs and those affected by military operations and military errors in accordance with government decisions, in addition to the tasks of disbursing operational salaries and calculating real estate registration revenues and the financial affairs of districts and districts.
During the opening ceremony, the Minister of Finance stressed “the necessity of working according to electronic governance methods, adopting automation in compensation processes, and following modern and simplified means in completing citizens’ transactions,” noting that “the opening of the new office will contribute to addressing the cases of momentum facing auditors and completing their transactions within time limits.” short". https://www.mawazin.net/Details.aspx?jimare=241725
During Today's Auction... The Iraqi Central Bank's Sales Exceeded $200 Million
Money and business Economy News – Baghdad External remittances rose at the Central Bank’s auction today, Wednesday, to reach $187 million compared to last Monday.
During its auction for buying and selling the US dollar, the Central Bank sold 203 million and 721 thousand and 6 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 price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.
Most of the bank's dollar sales went to strengthening balances abroad in the form of (transfers, credits), which amounted to 187 million 551 thousand and 6 dollars, an increase of 91%, compared to cash sales amounting to 16 million 170 thousand dollars.
The number of banks that purchased cash dollars reached 5 banks, while the number of banks that responded to requests to enhance balances abroad reached 15 banks, while the total number of exchange and brokerage companies participating in the auction was 87 companies.
Views 55 Added 02/07/2024 - 3:07 PM https://economy-news.net/content.php?id=40239
To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/
Goldilocks' Comments and Global Economic News Wednesday Evening 2-7-24
Goldilocks' Comments and Global Economic News Wednesday Evening 2-7-24
Good evening Dinar Recaps,
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the World Bank headed by the Director of the World Bank’s office in Iraq, Mr. Richard Abdel Nour.
During the meeting, they discussed enhancing bilateral cooperation between the Central Bank of Iraq and the World Bank and discussing electronic payment projects and financial inclusion, as well as reform programs to enhance the stability and development of the financial sector.
The two parties also discussed the support of the World Bank to provide advice in establishing the Riyada Bank dedicated to financing small projects in Iraq, with the support of the International Finance Corporation.
In turn, the World Bank delegation praised the procedures of the Central Bank of Iraq in facilitating financial transfers to different segments in Iraq, noting that the infrastructure of electronic payment systems and software systems in Iraq are among the best systems in the region.
Central Bank of Iraq Information Office 7 February – 2024
Goldilocks' Comments and Global Economic News Wednesday Evening 2-7-24
Good evening Dinar Recaps,
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the World Bank headed by the Director of the World Bank’s office in Iraq, Mr. Richard Abdel Nour.
During the meeting, they discussed enhancing bilateral cooperation between the Central Bank of Iraq and the World Bank and discussing electronic payment projects and financial inclusion, as well as reform programs to enhance the stability and development of the financial sector.
The two parties also discussed the support of the World Bank to provide advice in establishing the Riyada Bank dedicated to financing small projects in Iraq, with the support of the International Finance Corporation.
In turn, the World Bank delegation praised the procedures of the Central Bank of Iraq in facilitating financial transfers to different segments in Iraq, noting that the infrastructure of electronic payment systems and software systems in Iraq are among the best systems in the region.
Central Bank of Iraq Information Office 7 February – 2024 https://cbi.iq/news/view/2511
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Economic Reforms in Iraq are currently being implemented. This does not mean it will happen all in one month. Some of these reforms will take place throughout this year.
In other words, the Central Bank of Iraq and the World Bank are currently in process of implementing their new digital asset-based trading system into the Global Markets. https://cbi.iq/news/view/2511
© Goldilocks
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Those of you who have been in this process for some time can remember when Iraq said the following words, "...they would wait for a suitable environment for the re-entrance into the Global Markets." Well, they are beginning the process this month.
© Goldilocks
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Watch interest rates. This is where the game begins.
© Goldilocks
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Commercial real estate is crashing. Workspace offices are on sale globally in almost all businesses you can think of at this time. Regional banks are extremely stressed - again. Business Insider
© Goldilocks
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Janet Yellen: Some banks may be ‘quite stressed’ by empty office building trouble | CNN
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The report noted that “Even if only half of the uninsured depositors decide to withdraw, almost 190 banks are at potential risk of impairment to insured depositors, with potentially $300 billion of insured deposits at risk. Norada Real Estate Investments
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The US dollar currently has a lot of downward pressure on it due to a lack of demand for its use.
This does not mean it cannot be pushed up due to war utilizing the dollar to support those efforts.
Just so you know, the real technicals on the dollar if war wasn't taking place would have brought the dollar to a much lower value by now.
A lot of technical values will begin to change during this war. They certainly will need to be adjusted when they are done. Investopedia
© Goldilocks
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Auto Loan Balances, Subprime, Delinquencies, and Income: Who Are Those Drunken Sailors? | Wolf Street
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Credit-card and car-loan delinquencies are at their highest point in more than a decade | Morningstar
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Janet Yellen: Some banks may be ‘quite stressed’ by empty office building trouble | CNN
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Dow theory is flashing a warning | Finance Yahoo
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Crypto Risks Demand Congressional Action, Treasury Secretary Sounds Alarm | Tron Weekly
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Inflation constricts growth and liquidity in 2024 for banks and credit unions, according to new Wipfli reports | PR Newswire
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The Central Banks all around the world have been accumulating gold for some time. There is a good reason for this, which, we are witnessing take place at this time.
Central Banks provide liquidity for the banking system during times of turmoil and downturns such as the one we are experiencing.
As our Global Economy begins to feel a greater force of inflation creating liquidity squeezes on our banking systems going forward, it will be the role of the Central Banks to utilize our gold holdings to add net worth and value to our banks the dollar can no longer provide.
This movement forward into a greater and greater dependence on gold to deflate our inflated economy will create a bridge into our new economy. ICICI Direct
"All roads lead to gold, and gold will set us free."
© Goldilocks
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When our economy begins to lower interest rates, we will see the Metal Markets begin to rise. At that time, many of our tokenized assets that are backed by gold and other commodities will begin to add value to our new tokenized assets in the new digital economy.
Protocol 20 will bring these new assets into the market through Quantum Technologies interfacing networks that will allow them to work together. This will be again creating real world assets of authentic values going forward.
Depending on where we are in interest rate cuts as our Quantum Technologies begin the process of populating new asset values into the market, we will begin to witness synchronizing efforts between the banking system and the markets begin to flow into them new mechanisms that will guide us forward in our new digital asset based trading system.
For instance, some of the highest demands on Silver going forward ever recorded will begin to raise the price of assets this particular commodity is backing.
Throughout history, silver and gold has been used at times to represent monetary values. They are both coming into play along with other commodity metal assets and rare earth minerals.
Lower interest rates will begin the process of infusing higher values and more liquidity into our markets. All reports continue to tell us to expect great changes as we near the second half of the year.
Everything is going to be tokenized before it's over my friends. Everything. What this tells us is values on these new tokenized assets are about to see new values when the markets pivots or changes direction into the new financial system. Silver Institute
© Goldilocks
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Isaac Posted a Message today!
Hello I will have a great update tomorrow. Blessings!
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On Thursday, the Supreme Court will hear arguments over whether Section 3 of the 14th Amendment bars former President Donald Trump from the ballot in Colorado — the outcome of which could upend the 2024 presidential election.
The court will hear oral arguments in the case on Thursday, Feb. 8.
Both Trump and the Colorado voters who sued to bar him had asked the high court to weigh in and determine whether a part of the 14th Amendment designed to keep Confederates out of government after the Civil War should apply to the former president — and leading contender for the GOP nomination — later this year. NPR
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👆 If you think this doesn't have anything to do with the economy, you better think again.
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Large cryptocurrency miners in US now have to report energy use to the government | Ars Technica
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Used-Vehicle Wholesale Prices Give Up 55% of Pandemic Spike: Historic Plunge after Crazy Spike | Wolf Street
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U.S. SEC Clears 'Dealer' Rule Expansion That Could Rope in DeFi | Coin Desk
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Today, the Commission is considering whether to adopt final rules further defining a dealer and government securities dealer. I am pleased to support this adoption because it requires that firms that act like dealers register with the Commission as dealers, thereby protecting investors as well as promoting market integrity, resiliency, and transparency.
The registration, oversight, and regulatory regime for dealers is a cornerstone of the federal securities laws. It was amongst the first authorities that Congress gave the SEC as part of the Securities Exchange Act of 1934.
When dealers register, they become subject to a variety of important laws and rules that help protect the public, promote market integrity, and facilitate capital formation. Amongst these are meeting minimum capital requirements, reporting data to regulators, and keeping books and records. This regime benefits investors, issuers, and markets alike—and has done so for nearly 90 years. SEC Link 1 SEC Link 2
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Iraq Economic News and Points to Ponder Wednesday Afternoon 2-7-24
Iraq Economic News and Points to Ponder Wednesday Afternoon 2-7-24
Tlm724 Administrator Bondlady’s Corner
The World Bank: Iraq Is Among The Best Electronic Payment Systems In The Region
Wednesday 07, February 2024 14:18 | Economical Number of readings: 334 Baghdad / NINA / The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, discussed today, Wednesday, with the World Bank delegation in Iraq headed by Richard Abdel Nour, the support of the World Bank to provide advice in establishing the Riyada Bank dedicated to financing small projects in Iraq, with the support of the International Finance Corporation.
A statement from the bank stated that Al-Alaq “discussed in the meeting electronic payment projects and financial inclusion, as well as reform programs to enhance the stability and development of the financial sector.”
For its part, the delegation praised the measures of the Central Bank of Iraq in facilitating financial transfers to different segments in Iraq, noting that The infrastructure for electronic payment systems and software systems in Iraq is among the best systems in the region.”
Iraq Economic News and Points to Ponder Wednesday Afternoon 2-7-24
Tlm724 Administrator Bondlady’s Corner
The World Bank: Iraq Is Among The Best Electronic Payment Systems In The Region
Wednesday 07, February 2024 14:18 | Economical Number of readings: 334 Baghdad / NINA / The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, discussed today, Wednesday, with the World Bank delegation in Iraq headed by Richard Abdel Nour, the support of the World Bank to provide advice in establishing the Riyada Bank dedicated to financing small projects in Iraq, with the support of the International Finance Corporation.
A statement from the bank stated that Al-Alaq “discussed in the meeting electronic payment projects and financial inclusion, as well as reform programs to enhance the stability and development of the financial sector.”
For its part, the delegation praised the measures of the Central Bank of Iraq in facilitating financial transfers to different segments in Iraq, noting that The infrastructure for electronic payment systems and software systems in Iraq is among the best systems in the region.”/End 11
Central Bank: The Electronic Payment File Is A High Priority And The Prime Minister Is Very Supportive
Economy | 06/02/2024 Mawazine News – Baghdad The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, that the electronic payment file is a high government priority, and while he indicated a significant decrease in inflation compared to the beginning of 2023, he announced the imminent launch of a special mechanism for selling the dollar to ensure that it reaches real travelers only.
Electronic Defense Al-
Alaq said in a press interview followed by Mawazine News: “The Central Bank and the government give high priority to the issue of electronic payment because of its important economic repercussions and raising the level of transactions away from excessive use of cash,” noting that “the Iraqi economy is a cash economy par excellence and the electronic payment process.” It aims to significantly reduce the economic degree of cash.”
He added, "The Prime Minister is very supportive of the process of converting to electronic payment and holds successive and continuous meetings in order to strengthen the procedures related to this issue. We have made important strides in arranging electronic payment at the level of collection and payment in state institutions, in addition to that the Council of Ministers approved a number of important packages and decisions." Which facilitates this process and does not burden the citizen with the resulting commissions.”
He stated that “the Central Bank has a broad strategy in the electronic payment file and has developed the infrastructure and covers any type of electronic payment, whether by cards, via mobile phone, or other means,” indicating that “the Central Bank is also working on a strategy of financial inclusion and increasing users of financial services.” .
He continued, "There are direct decisions issued to support the use of electronic payment, including obligating government agencies to make payment and receipt through cards, and also linking the process of renewing licenses in stores and approving them in buying and selling operations with the incentives granted, especially the government decision to bear 50 percent, which will make it marginal."
At the same time, Al-Alaq stressed that “the Central Bank is working to complete the establishment of Riyada Bank, which will focus on supporting small projects by relying on the use of financial services away from cash dealing.”
Inflation declined.
He stated that “the indicator of the success of monetary policy in any country is controlling the general level of prices and reducing inflation,” explaining that “inflation has now decreased significantly compared to the beginning of 2023, which indicates, as the US Treasury Assistant mentioned a few days ago, that the decline in the level of Inflation indicates that foreign trade is covered by the official rate and that foreign financing operations are taking place smoothly, and all importers and merchants can obtain the dollar at the official rate and control it.”
Iqbal on the official platform
pointed out that “the Central Bank’s adherence to the rules and principles of external transfer in accordance with the conditions and requirements it set and its insistence on implementing them is what prompted many hesitant merchants to enter the platform for selling foreign currency, especially since using it is easy and safe and it provides them with the dollar at the official rate.”
Al-Alaq pointed out that “the Central Bank confirms the possibility of meeting all requests for the dollar, whether personal, commercial, or any kind, as long as they are valid and legitimate, and this is strongly supported by the size of the foreign reserves present at the Central Bank.”
He pointed out that “the Central Bank has no problem in offering or selling the dollar, and it does not place restrictions on sales operations at all and has never specified for the bank how much a dollar it can buy, nor has it set an upper or lower limit for a merchant, importer, or user of the dollar, or anything else.” This gave the impression that there was no problem in responding to demand for the dollar and that speculation was useless because the rules for this speculation were not available and incorrect.”
He added, "Some groups are still trying, from here and there, to stay away from the platform for various reasons, whether to evade taxes, customs, etc., or for the presence of illegal trade, as the drug dealer cannot transfer it through the central bank, or if it is corruption money, it cannot be transferred." Through the Central Bank.
Meeting all requests to purchase the dollar.
He pointed out that “the Central Bank is in a comfortable position to respond to the requests to purchase the dollar and we have sufficient reserves. On the other hand, there are some countries that do not have sufficient reserves to respond to the demand, and therefore they have a large difference in the price between the parallel and the official price.”
Regarding providing the dollar to travelers, Al-Alaq said, “After the experience we had in how to sell the dollar to travelers and citizens, we found many observations, including that it is difficult for the real traveler to obtain the dollar, and therefore we had a meeting in this regard, and we will finalize a new mechanism after developing its programs related to this.” The subject, according to which only the real traveler will receive the dollar.”
He stated, "One of the things that helped calm and reassure the market is the stability of the exchange rate and the central bank's provision of payment options after currencies such as the euro, the dirham, the Turkish lira, and the Indian rupee, which are expanding."
The Best In The Region... International Praise For The Infrastructure Of Electronic Payment Systems In Iraq
Economy | 02/07/2024 Mawazine News – Baghdad The World Bank confirmed on Wednesday that the infrastructure for electronic payment systems in Iraq is the best in the region.
A statement from the Central Bank received by Mawazine News stated, “The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received a delegation from the World Bank headed by the Director of the World Bank’s office in Iraq, Richard Abdel Nour.”
He added, "During the meeting, strengthening bilateral cooperation between the Central Bank of Iraq and the World Bank was discussed, and electronic payment projects and financial inclusion were discussed, as well as reform programs to enhance the stability and development of the financial sector."
He explained, "The two parties discussed the support of the World Bank to provide advice in establishing the Riyada Bank dedicated to financing small projects in Iraq, with the support of the International Finance Corporation."
In turn, the World Bank delegation praised “the Central Bank of Iraq’s procedures in facilitating financial transfers to different segments in Iraq,” noting that “the infrastructure for electronic payment systems and software systems in Iraq is among the best systems in the region.”
https://www.mawazin.net/Details.aspx?jimare=241730
Iraq Increased Its Possession Of The Yellow Metal To More Than 142 Tons
Wednesday 07, February 2024 14:06 | Economical Number of readings: 285 Baghdad/ NINA /The World Gold Council announced today, Wednesday, that Iraq has increased its possession of the yellow metal to more than 142 tons.
The Council said in its latest table for last January, “Iraq maintained its 30th ranking globally out of 100 countries included in the table with the largest gold reserves and raised its possession to 142.6 tons from 132 tons, which represents 8.3% of the rest of its other reserves.”
He added, "Iraq ranked fourth in the Arab world after Saudi Arabia, which possessed 323.1 tons, followed by Lebanon, which possessed 286.8 tons, and Algeria, which possessed 173.6 tons."
He pointed out that "the United States of America sits on the throne of the rest of the countries with the largest possession of gold in the world at 8133.5 thousand tons, followed by Germany with 3352.6 thousand tons, then Italy came with 2451.8 thousand tons, while Bosnia and Herzegovina came at the bottom with 1.5 tons."
The Council stated, "Iraq announced the purchase of gold in the year 2023, amounting to approximately 12.25 tons."
It is noteworthy that the World Gold Council is based in the United Kingdom and has extensive experience and deep knowledge of the factors causing market change. Its members consist of the largest and most advanced gold mining companies in the world.
https://ninanews.com/Website/News/Details?key=1105322
High Dollar Exchange Rates In Baghdad
Economy Wednesday, February 7, 2024 10:35 AM Baghdad/National News Center The prices of the US dollar rose slightly against the Iraqi dinar, today, Wednesday, in the markets of the capital, Baghdad.
The prices were as follows:
The selling price is 153,250 dinars per 100 dollars.
The purchase price is 151,250 dinars per 100 dollars.
To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/
Points To Ponder On Advice Quotes and Quotations
Simplicity, simplicity, simplicity. I say, let your affairs be as two or three, and not a hundred or a thousand; instead of a million count half a dozen, and keep your accounts on your thumbnail. - Henry David Thoreau
What is important is to keep learning, to enjoy challenge, and to tolerate ambiguity. In the end there are no certain answers. - Marina Horner
It is well enough, when one is talking to a friend, to lodge in an odd word by way of counsel now and then; but there is something mighty irksome in its staring upon one in a letter, where one ought to see only kind words and friendly remembrances. - Mary Lamb
Men of much depth of mind can bear a great deal of counsel; for it does not easily deface their own character, nor render their purposes indistinct. - Arthur Helps
Old men are fond of giving good advice, to console themselves for being no longer in a position to give bad examples. - La Rochefoucauld
"Tidbits From TNT" Wednesday Morning 2-7-2024
TNT:
Tishwash: Japan, Britain, Algeria and Malta praise Al-Sudani's reform efforts in Iraq
Japan, France, Britain, Algeria, and Malta expressed their absolute support for the Iraqi government in meeting the aspirations of the Iraqi people, praising the reform efforts of Prime Minister Muhammad Shiaa al-Sudani.
Japan's representative in the UN Security Council said, "We welcome the holding of Iraqi local elections and we hope that the Kurdistan region will hold its overdue elections."
He added, "We call on all international parties to stop tensions and maintain good neighborliness, and we value Iraq's role in limiting the expansion of the conflict in the region."
TNT:
Tishwash: Japan, Britain, Algeria and Malta praise Al-Sudani's reform efforts in Iraq
Japan, France, Britain, Algeria, and Malta expressed their absolute support for the Iraqi government in meeting the aspirations of the Iraqi people, praising the reform efforts of Prime Minister Muhammad Shiaa al-Sudani.
Japan's representative in the UN Security Council said, "We welcome the holding of Iraqi local elections and we hope that the Kurdistan region will hold its overdue elections."
He added, "We call on all international parties to stop tensions and maintain good neighborliness, and we value Iraq's role in limiting the expansion of the conflict in the region."
For his part, the British representative in the UN Security Council affirmed: “We value the Iraqi government’s reform steps in the areas of economy, security and investment,”
while the French representative in the Security Council saluted the efforts of the Iraqi government to complete the reforms that the Iraqi people aspire to, calling on everyone to respect Iraq’s sovereignty and keep its lands away from the specter of Conflict in the region
In addition, the representatives of Algeria and Malta stressed the commitment of the United Nations mission to support the Iraqi priorities and its efforts to achieve peace there. link
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CandyKisses: Najaf will suspend official working hours tomorrow, Thursday
Baghdad Today - Najaf
Today, Wednesday (February 7, 2024), the Najaf Provincial Council announced the suspension of official working hours in the governorate's departments, tomorrow, Thursday, on the occasion of the Prophet's resurrection.
The provincial office said in a statement received by "Baghdad Today" that "it was decided to suspend the official working hours of the departments of Najaf province for tomorrow, Thursday, on the occasion of the Prophet's mission."
The statement excluded "security and service departments and external preliminary exams from the holiday."
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CandyKisses: The best in the area. International praise for the infrastructure of electronic payment systems in Iraq
Mawazine News- Baghdad
Bank confirmed International, on Wednesday, that the infrastructure of electronic payment systems in Iraq Best in the area.
A statement stated The Central Bank received it / Mawazine News /, that "the Governor of the Central Bank of Iraq Ali Mohsen Al-Alaq, received a delegation from the World Bank headed by the Director of the World Bank Office in Iraq Richard Abdel Nour".
He added, that During the meeting, they discussed strengthening bilateral cooperation between the Central Bank of Iraq The World Bank will discuss e-payment projects, financial inclusion, as well as programs reform to promote the stability and development of the financial sector."
He explained, that "The two parties discussed the support of the World Bank to provide advice on the establishment of Riyada Bank Dedicated to microfinance in Iraq with the support of the Finance Corporation International".
In turn, praised World Bank Delegation, "Central Bank of Iraq's Procedures in Facilitating Remittances financial for different segments in Iraq," he said, noting that "the infrastructure Electronic payment systems and software systems in Iraq are among the best in area".
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CandyKisses: Iraq calls on US Treasury to reconsider sanctions on civil banks
Mawazine News – Baghdad
The Iraqi Foreign Ministry called on the US Treasury to reconsider the decision to impose sanctions on some civil banks.
The Ministry of Foreign Affairs said in a statement received by Mawazine News that "the Deputy Prime Minister and the Minister of Foreign Affairs received a phone call yesterday evening, from US Secretary of State Anthony Blinken, as part of the follow-up of the most prominent developments and regional and international issues of common interest."
The statement added, "The Secretary of State touched on the sanctions imposed by the US Treasury on seven Iraqi banks recently preceded by sanctions on fourteen Iraqi banks, as the reasons behind the imposition of such sanctions have not been stated, and whether Washington's imposition of these sanctions came due to the undiscipline of these banks in implementing banking instructions and compliance rules, or for other political reasons, especially as the US Treasury Department is in constant contact with the Central Bank of Iraq."
He pointed out that "these banks have an important and significant role in financing the expenses of the ration card and providing the food basket for Iraqi families with limited income," he officially called for "a review of the US Treasury decision on the subject."
He pointed out that "Iraq is keen to build partnership and cooperation relations with friendly countries and joint work towards facing economic and security challenges and in a way that supports consolidating stability in the region."
Mot: The Radio
Mot: Pictures on a phone
