"Tidbits From TNT" Wednesday Morning 3-20-2024

TNT:

Tishwash:  Officially... Iraq joins the membership of the European Bank for Reconstruction and Development

The Iraqi Fund for External Development in the Ministry of Finance announced today, Wednesday, that the Republic of Iraq has joined the membership of the European Bank for Reconstruction and Development (EBRD) after the House of Representatives approved the accession law.

The Fund said in a statement received by Al-Eqtisad News, “The Republic of Iraq has joined the membership of the European Bank for Reconstruction and Development (EBRD) after the House of Representatives approved the accession law, which comes within the Ministry’s vision of strengthening frameworks of cooperation and communication between Iraq and international financial institutions.” “After the Fund’s continuous coordination with the European Bank’s management, the completion of Iraq’s contribution process, and the completion of all documents related to accession.”

He added, "Joining will enable the European Bank to finance projects within the country, promote development for various sectors, support the entrepreneurship initiative, and support the private sector through investments and participation in policy dialogue and technical assistance," pointing out that "the European Bank for Reconstruction and Development (EBRD) is a multi-faceted development bank."

Parties, headquartered in London, the bank focuses on investment as a tool to rebuild market economies in beneficiary countries, with an emphasis on supporting the private sector and its investments in advisory and political activities. The bank also helps countries develop their policies to promote energy self-sufficiency or renewable energy markets    link

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CandyKisses:  92nd in the world. Iraq ranks seventh in the Arab world in the happiness index

Baghdad Today - Follow-up

Finland continued to top the list of the World Happiness Index for the seventh consecutive year, while Iraq ranked 92nd globally and seventh in the Arab world, according to the report issued under the auspices of the United Nations.

This year's report covers 143 countries, which are categorized by several factors, including GDP per capita, healthy life expectancy, and the opinions of the population.

The researchers rely on surveys that ask respondents to answer a progressive scale of 1 to 10 on how much social support they feel in the event of a problem, their freedom to make decisions related to their own lives, their sense of how widespread corruption is in their communities, and how generous they are.

For the first time, this year's report included different classifications according to age groups, for example, Lithuania was the happiest country in the world for the age group under 30, while Denmark was at the top of the list in terms of those over 60.

Overall, Finland came first, followed by Denmark, Iceland, Sweden, Israel, the Netherlands, Norway, Luxembourg and Switzerland.

Afghanistan was at the bottom of the list, preceded by Lebanon, Lesotho and Sierra Leone.

At the Arab level, Kuwait ranked 13th globally, followed by the UAE in 22nd place, Saudi Arabia 28th, Bahrain 62nd, Libya 66th, Algeria 85th, Iraq 92nd and Palestinian Territories 103rd.

Morocco 107th, Mauritania 111th, Tunisia 115th, Jordan 125th, Egypt 127th, Comoros 132nd, Yemen 133rd and Lebanon 142nd, respectively.

First launched in 2012, the World Happiness Report is an annual survey conducted by the United Nations' Sustainable Development Solutions Network.

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CandyKisses: Ramadan and the salary crisis and floods. Nowruz holidays with a different flavor in Kurdistan - urgent

Baghdad Today - Kurdistan

Nowruz holidays in the Kurdistan region come with a different approach this year as a result of the size of the challenges faced by families in those areas, and despite the fact that Nowruz coincided this year with the blessed month of Ramadan and the crisis of delayed salaries of the region's employees

And what made matters worse was the wave of floods that occurred during the past two days, but local administrations in the governorates of the Kurdistan region decided to celebrate by lighting the Nowruz flame and going out in a number of streets, after the time of breaking the fast.

Nowruz is the Kurdish New Year, and the Kurds celebrate it in all the countries in which they are present by going out to the resorts and mountainous areas, but coinciding this year with the blessed month of Ramadan, as well as the financial crisis and the Wave of floods in the cities of the country, may make this occasion another reality.

The organizing committee of the celebrations in Sulaymaniyah announced the closure of the main Salem Street in central Sulaymaniyah and the start of Nowruz celebrations within activities interspersed with performances of Kurdish folklore, costumes, dabkat and Kurdish songs.

The Erbil Municipality, for its part, announced that preparations are underway for the Nowruz torch lighting ceremony on Erbil Citadel.

The municipality of Erbil said in a statement received by "Baghdad Today", that "its teams in the Directorate of Engineering of Erbil Gardens, this morning in a civilized manner and beautiful design standards for the ceremony of lighting the fire of Nowruz as a symbol of the National Day."

A number of citizens say that they will celebrate with their families despite the crises they are suffering from, as they have not been able to fully prepare for this occasion.

Behzad Salam, an employee in Sulaymaniyah, told Baghdad Today that he has not received his salary for 50 days, and although we are in Ramadan month, therefore in this crisis we will not be able to buy clothes for our children nor prepare optimally.

As for Nujeen Ahmed, he pointed out to "Baghdad Today", "Nowruz this year will not have a taste for several reasons, the first of which is the financial crisis, and secondly, we are used to going out to the streets and wearing Kurdish clothes that are sewn on these occasions, and on the 21st we go out with our families to the resorts and mountainous areas, " adding that "but this year we miss these things, because of the salary crisis and the coinciding of Nowruz with Ramadan "

But other families will go out to celebrate despite all the crises and circumstances that the Kurds are experiencing, but they will not miss this occasion, which is considered a national holiday for them.

Hevar Mustafa, a social researcher and academic at the University of Sulaymaniyah, stressed that Nowruz is one of the occasions that the Kurds cherish, and it is not an ordinary day, and therefore there is reverence for this occasion and national pride in it.

She pointed out in her speech to "Baghdad Today", that "the celebration this year will not be like previous years, but there are traditions, including lighting the candle of Nowruz, which expresses the liberation and revolutionary spirit of the Kurds in fighting tyranny and the injustice that they faced over different times

Mot: ........ Coming to a Driveway near you!

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Iraq Economic News and Points to Ponder Late Tuesday Evening 3-19-24

Iraq Economic News and Points to Ponder Late Tuesday Evening 3-19-24

Tlm724 Administrator Bondlady’s Corner

Revealing The Reason For The Persistence Of The Gap In The Dollar Exchange Rate Between The Official And The Parallel

Time: 03/19/2024 Read: 3,549 times  {Economic: Al-Furat News} An economic expert attributed the persistence of the price gap between the dollar and dinar exchange rates to “illegal trade.”

Nabil Al-Marsoumi told {Al-Furat News} agency, “Illegal trade with sanctioned countries is the main reason for the gap between the official price of the dollar and the parallel price, as it is difficult to cut off trade with neighboring countries such as Syria, Iran, and others like Russia, because they cover a large part of the market, especially with regard to goods.” and Iranian goods.

He added, "We expect the exchange rate to stabilize at these rates, and if the United States reconsiders and eases the sanctions, the price gap will decrease slightly now. It will not disappear."

It is noteworthy that the Central Bank of Iraq sells the dollar at the official rate of 1,320 dinars, while it reaches the “parallel” black market at a rate of 1,500 dinars.   LINK

Decline In Oil Prices In Global Markets 

Tuesday 19, March 2024 | Economical Number of readings: 432  Baghdad / NINA / Oil prices fell in today’s trading, Tuesday, after recording in yesterday’s session, Monday, the highest level since the beginning of last November.

US West Texas Intermediate crude futures were traded at $82.56 per barrel, a decrease of 0.19% from the previous settlement price. Meanwhile, global Brent crude futures were traded at $86.70 per barrel, a decrease of 0.22% from the previous closing price.

Today's decline came after a noticeable rise in crude prices in yesterday's trading, as Brent crude contracts rose by 1.8% to $86.89 per barrel, and US crude contracts rose by 1.95% to $82.16 per barrel./End    https://ninanews.com/Website/News/Details?key=1113698

Central Bank Transfers Outside Iraq Recorded $245 Million

 Money  and business  Economy News – Baghdad  Foreign remittance sales rose at the Central Bank of Iraq auction, today, Tuesday, to record $245 million.

Today, during its auction for buying and selling the US dollar, the Central Bank sold 245 million, 622 thousand and 724 dollars, which the bank covered at a base exchange rate of 1,305 dinars, per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for external transfers, and at the same price in cash.

Most of the bank's dollar sales went to strengthen balances abroad in the form of (transfers, credits), which amounted to 226 million, 922,724 thousand dollars, an increase of 92%, compared to cash sales of 18 million, 630 thousand dollars.

The number of banks that purchased cash dollars reached 6 banks, while the number of banks that responded to requests to enhance balances abroad reached 17 banks, while the total number of exchange and brokerage companies participating in the auction was 135 companies.

Yesterday, Monday, sales of foreign remittances at the Central Bank of Iraq auction recorded $221 million.    Views 89 03/19/2024 - https://economy-news.net/content.php?id=41645

"Al-Eqtisad News" Publishes The Full Decisions Of The Council Of Ministers Session

Economy News – Baghdad  Al-Eqtisad News publishes the full decisions of the twelfth regular Council of Ministers session held today, Tuesday, the most important of which was obligating the Ministry of Finance to pay the dues owed to an Iraqi bank by Kurdistan, provided that they are deducted from the region’s allocations.

The Prime Minister’s media office said in a statement, seen by Al-Iqtisad News, that “Prime Minister, Mr. Muhammad Shiaa Al-Sudani, chaired, today, Tuesday, the twelfth regular session of the Council of Ministers, in which the general situation in the country was discussed, and the most important service files were reviewed.” economic, and to deliberate on the issues on the agenda and take the necessary decisions thereon.”

The statement added, “In the field of energy, the Council voted on the following:

1. Approval to authorize the Minister of Finance, or whomever she authorizes, to sign with the relevant authorities an amendment to the loan agreement for financing the 400 kV Babylon station rehabilitation project, which is financed by the Swedish loan with JPM Bank.

2. Approval of the financing terms for the loan according to the Ministry of Finance’s letter dated February 25, 2024.

He explained, “Based on the government’s priorities, which focused on administrative reform, the Council voted on the following:

1- Approval of the controls regulating the dealings of beneficiary entities with letters of guarantee issued in their favor, taking into account the observations of the Ministerial Council for the Economy confirmed by its letter dated January 14, 2024, amending Article (17) of the aforementioned controls, according to what is stated in the department’s memorandum. Legal of the General Secretariat of the Council of Ministers, dated March 14, 2023.

2- Agreeing to accept a certified instrument or a letter of guarantee, taking into account the validity period of the certified instrument, and the beneficiary party must renew it before it becomes effective until the need no longer exists, in accordance with the rules.

The statement indicated, “Within the path of financial and banking reform, the Council issued a decision obliging the Federal Ministry of Finance to pay the dues of the Trade Bank of Iraq/TBI, due from the Kurdistan region of Iraq, in annual monthly installments for the years (2023, 2024) at a rate of (636) billion dinars for each year.” It will be deducted from the region’s allocations for the year 2024, and will be deducted later.”

He continued, "The session witnessed the approval of recommendations regarding settlement procedures for foreign claims, in accordance with Cabinet Resolutions 28 of 2014 and 48 of 2018, as follows:

1. Make an amendment to paragraphs (1 and 2) of Cabinet Resolution 28 of 2014 as follows:

a. Amend paragraph (1) to become: Authorizing ministries and entities not affiliated with a ministry with the authority to negotiate with creditor companies that have a final court ruling, and which have seized the funds of Iraqi government institutions abroad, or have not seized in their consensual settlement, at a rate less than the principal of the debt without interest,

While giving it preference in contracting with state departments in one of the government projects or contracts in exchange for the creditor party dropping the entire amount of the debt and its interests, and invalidating the lawsuit filed.

B. Amending paragraph (2) to read: Negotiating and negotiating committees shall be conducted by the relevant authorities under the supervision of the Ministry of Justice. It is exclusively concerned with following up on foreign lawsuits, and each case is presented individually to the Council of Ministers for approval.

C. Continued implementation of Cabinet Resolution No. 48 of 2018.

2. Taking into consideration the opinion of the Legal Department in the General Secretariat of the Council of Ministers.

The statement continued, "The session included approval of the following:

First: Cancellation of the recommendations of the sixth meeting of the Chinese Framework Agreement issued by Cabinet Resolution (24006 of 2024).

Second: Cancellation of the Council of Ministers’ decision (24059 of 2024) regarding the completion of the new Nasiriyah warehouse and model school buildings, funded by the Chinese agreement.

Third: Approving the projects approved by Cabinet Resolution (24130 of 2023), with an annual allocation of (7059) billion dinars, instead of (7137) billion dinars, signed by the committee.

The following was also voted on during the session:

1. Deletion of the project (constructing an international stadium in the center of Nineveh Governorate at a cost of (22,813,000,000 dinars), based on the technical reports issued by the advisory office, affiliated with the College of Engineering at Al-Mustansiriya University, which includes the recommendation to completely remove the structure with the foundations, as well as the recommendation of the advisory body / Advisor to the Governor for Technical Affairs, adopting the opinion of the Advisory Office of Al-Mustansiriya University, to demolish and completely remove the foundations, taking into account the amounts spent on the aforementioned project and the amounts of work completion, and transferring the amounts of the deposits to the project account after its deletion, according to the controls and instructions issued by the Ministry of Planning.

2. Considering the request to include the project to establish the Nineveh Central Stadium with a closed sports hall on the right side of Mosul in a turnkey manner, within the governorate’s projects for the year 2023 (amended Schedule E) specified in the Federal General Budget Law (13 of 2023), for a total amount of (36,200). 000,000 dinars) after completing all relevant listing requirements.

3. Nineveh Governorate bears full responsibility for the truth and accuracy of the information submitted to the Ministry of Planning.

He pointed out that "with regard to the contract concluded with the Turkish company Tarmash for the school buildings project, the Council issued a decision approving the acceptance of the letter of guarantee previously submitted to the Ministry of Industry and Minerals, for the same contract outside the electronic platform for the letter of guarantee, until the company has financial liquidity that enables it to return Letter of guarantee, within the electronic platform.

The Council also issued a decision approving the Ministry of Finance’s contract with the Scientific Consulting Office at the Ministry of Higher Education and Scientific Research/University of Baghdad/College of Science. To complete the system for modernizing public financial management systems (IFMIS), as an exception to the instructions for implementing government contracts (2 of 2014).

The statement explained, “The sale of residential plots of land starting from the property numbered (45373 to 49551 AD/21 Haidariyah) was approved for sale, amounting to (4176) plots, separated from the area of ​​the two plots of land numbered (42062/1, and 42063/1), district (21). )

Haidariyah, to employees of the General Secretariat of the Holy Shrine of Hussein, as an exception to the public bidding procedures, and based on the provisions of the Law on the Sale and Rent of State Funds No. (21) of 2013, as amended, and replacing it with a lottery system, according to the controls of those who are not beneficiaries of the Council of Ministers’ Resolution (20 of the year 2019), taking into account Articles (4 and 15/First/A) of the aforementioned Law on the Sale and Rent of State Funds.”

Within the framework of organizing union work, the recommendation of the Ministerial Council for Human Development (24004 B) of 2024 was approved, which includes obligating the Engineers Syndicate to address the issue of registering engineering colleges and departments and accrediting them in the Engineers Syndicate.

The Council agreed to authorize the Director General of the General Tax Authority to negotiate and initial a draft agreement to avoid double taxation and prevent evasion of taxes imposed on income and capital between the Government of the Republic of Iraq and the Government of the Republic of Latvia, based on the provisions of the Constitution, and to authorize the Minister of Finance to negotiate. And the final signature on the above project.”

He continued, "The draft law on the Republic of Iraq's ratification of the air services agreement between the government of the Republic of Iraq and the government of the Republic of Azerbaijan was approved and referred to the House of Representatives, based on the provisions of the constitution."

Views 73   Added 03/19/2024 - https://economy-news.net/content.php?id=41657

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

Provoking Points to Ponder on Decisions 

 We have resolved to endure the unendurable and suffer what is insufferable.  - Emperor Hirohito

Once a decision was made, I did not worry about it afterward.  - Harry S. Truman

No country can act wisely simultaneously in every part of the globe at every moment of time.  - Henry Kissinger

The last, if not the greatest, of the human freedoms: to choose their own attitude in any given circumstance.  - Bruno Bettelheim

He who has a choice has trouble.  - Dutch proverb

http://famousquotesandauthors.com/quotes_by_topic.html                                   

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

Iraq Economic News and Points to Ponder Tuesday Afternoon 3-19-24

Iraq Economic News and Points to Ponder Tuesday Afternoon 3-19-24

Tlm724 Administrator Bondlady’s Corner

Weak Infrastructure Hinders The Spread Of Electronic Payment In Iraq

March 18, 2024     Last updated: March 18, 2024  Al-Independent/- Iraq faces great challenges in disseminating electronic payment services despite the availability of the necessary technologies for that.

This is due to the absence of the necessary infrastructure in many departments and institutions, in addition to the weak culture of electronic dealing among a wide segment of citizens.

Experts' criticisms:

Economist Manaf Al-Sayegh criticized the absence of infrastructure for electronic payment services in many departments and institutions.

 Al-Sayegh stressed the importance of converting all financial operations to a banking system based on electronic payment for ease of use and improving the quality of the system.

Al-Sayegh pointed out that most institutions and companies currently deal with the electronic payment system, but the lack of it in many departments and stations hinders its spread.

 Imad Al-Mohammadawi, who is interested in economic affairs, called for the necessity of spreading the culture of electronic payment among segments of society.

 Al-Mohammadawi stressed the importance of encouraging, supporting and facilitating electronic dealings to attract more customers.

Government efforts:

 Deputy Governor of the Central Bank, Ammar Khalaf, explained that  “the digital financial transformation began with the localization of employee salaries and the opening of bank accounts aimed at using electronic payment in daily transactions.”

Khalaf pointed out that  some ministries responded to the directives of the Central Bank and the government, such as the Ministry of Oil, the Passports Directorate, and the General Traffic Directorate.

Challenges:

    Lack of necessary infrastructure in many departments and institutions.

    Weak culture of electronic dealing among a wide segment of citizens.

suggested solutions:

    Creating the necessary infrastructure for electronic payment services in all departments and institutions.

    Spreading the culture of electronic dealing among segments of society through awareness campaigns.

    Encouraging, supporting and facilitating the use of electronic payment services.

Electronic payment services still face major challenges in Iraq, but government efforts are based on disseminating these services and improving the culture of dealing with them among citizens.    https://mustaqila.com/ضعف-البنى-التحتية-يعيق-انتشار-الدفع-ال/  

Economists: Citizens Still Prefer Cash Transactions Over Electronic Transactions

 Economical 03/18/2024  Baghdad: Shukran Al-Fatlawi Economic affairs specialists  criticized the lack of infrastructure for electronic payment services in many departments and institutions, and confirmed that most citizens still prefer cash transactions over electronic transactions.

 Economist Manaf Al-Sayegh told Al-Sabah:

Electronic payment is a globally recognized technology that can be used without the need to carry paper money or coins, as the world today no longer needs paper payment or the use of coins, so

we find it approved through the use mechanism. A credit card that enables its holder to pay anywhere.  He added that the

need arises today for all financial operations to be transformed according to a banking system that adopts the principles of automation and dealing with electronic payment (MasterCard) or (Credit Card), as it facilitates banking operations and transfers and gives an element of speed in financial performance, pointing out that   there is a value that is sometimes imperceptible.

But the quality of the system in financial transactions between customers and the lack of difficulty, whether at the level of individuals or companies, give these advantages value for dealing according to the automation system.

 Al-Sayegh pointed out that most institutions and companies currently deal according to the electronic payment system, and even malls and stores with limited capital deal according to this system for the purpose of financial facilities and raising performance, adding that

 there are some obstacles, including the lack of infrastructure in many departments and stations for this service, stressing.

 There is a need to prepare these systems by the Ministry of Finance and the Central Bank, as the country was late in introducing this service, which has been used in most countries for decades, especially the card service through mobile phones.

He noted the  necessity of disseminating payment points (POS) in their modern form to obtain the best service in multiple places, and  obligating all departments, institutions, and shops to use them to benefit everyone. 

He stressed that  dealing with electronic payment   enables controlling transfers and  not taking the currency anywhere without the knowledge of the state, so it   can be used as a security element to prevent currency leakage.

In turn, Imad Al-Mohammadawi, who is interested in economic affairs, called during his speech to “Al-Sabah” for the necessity of spreading the culture of electronic payment among the segments of society, pointing out that  most citizens prefer cash transactions over electronic transactions because they have become accustomed to this method, believing that it is better. 

 Al-Muhammadawi pointed out  the necessity of encouraging, supporting and facilitating dealing according to this new mechanism for citizens with the aim of attracting many customers according to this method, which is considered universal and one of the approved methods in all aspects of life, because of the safety it brings in not carrying lumps of cash in daily transactions. 

It is noteworthy that the Deputy Governor of the Central Bank, Ammar Khalaf, explained in the first Iraqi Digital Economy Forum that

“the digital financial transformation began with the localization of employees’ salaries and the opening of bank accounts, the primary purpose of which was the use of electronic payment in daily transactions, whether inside or outside the country,” and he pointed out that

“some The ministries responded quickly to the directives of the Central Bank and the government, especially the Ministry of Oil by making collections at gas stations and others done electronically, as well as the Passports Directorate, which required that payment be electronic, in addition to the General Traffic Directorate and other ministries.    https://alsabaah.iq/93643-.html   

Experts: Activating The Industrial And Agricultural Sectors Stops 80% Of Imports

 Economical 03/19/2024   Baghdad: Hussein Thaghb Al-Tamimi

Specialists and experts in economic affairs believe that fully  activating the industrial and agricultural sectors could stop 80 percent of imports, while they stressed that  stabilizing prices in local markets requires cooperation between the concerned parties.

 Head of the Baghdad Chamber of Commerce, Firas Rasool Al-Hamdani, said:  The chamber’s committees are working to follow up on prices in local markets to find out the reasons for the high prices of food in the markets.

 He revealed the existence of reasons for raising prices that are beyond control, which we can put in the category of external reasons. The Chamber’s committees are also studying problems in the markets and their impact on price stability.

 It is noteworthy that the  external reasons are represented by the increase in prices from the source of imported materials at certain times of the year, including coinciding with the advent of the holy month of Ramadan.

 As for the internal reasons, they are represented by the confusion occurring at the ports and the entry of food supplies, in addition to the delay in financial transfers.

Economic affairs specialist Ahmed Maklaf said:

The rise in food prices is clear this year, and here  we can diagnose the reasons, most notably the accumulation of goods imported from abroad in Iraqi ports, which has confused the customs clearance scene, due to the difficulty of financial transfer and the failure of remittances to reach the source of imported materials.

He pointed out the importance of having a money transfer system that the importing merchant interacts with and knows its requirements to avoid such matters, which have become a challenge to importing goods.

He stressed that regulating the commercial reality is extremely important, as the

Iraqi market depends to a large extent on imports from international and regional markets to cover the increasing demand for foodstuffs, and this matter must be realized by the relevant authorities.

 As for the specialist in commercial affairs, Omar Al-Sudani, he stressed that a

 market the size of Iraq and growing is in dire need of organizing its commercial reality and rising to the world in performance, as the

 commercial process must be organized in all its stages from the source, transportation, and ports all the way to the final destination, in addition

 to ensuring that the import amounts are paid in accordance with Legal conditions at official exchange rates. Al-Sudani explained that the

 local market requires the cooperation of all concerned parties and the

 presence of flexible work mechanisms that achieve high smoothness in the arrival of goods, away from all forms of complexity, which is usually one of the causes of routine.

 He pointed out the necessity of regulating the reality of financial transfers in a way that does not confuse the commercial scene, which suffers greatly from this matter, as the ball is thrown in the court of the financial sector, which causes confusion in the entry of goods into the local market.

As for Baghdad Economic Forum member Jassem Al-Aradi, he said:

 The Iraqi market’s dependence on global markets to cover the Iraqi family’s requirements is something that needs to be stopped, as the country can dispense with most foreign imports if the country’s own efforts are relied upon. He stated that  activating the agricultural and industrial sectors eliminates the need for importing 80% from outside the country,

especially since the  elements for the success of the two sectors are available in Iraq on a large scale and      can be employed in a way that raises Iraq’s productive capabilities to levels that cover the country’s need for some crops and industries.

 He stressed the necessity of raising the country's administrative capabilities in a way that  makes the productive sectors more effective and  contributes to covering the country's needs. 

https://alsabaah.iq/93722-.html   

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

Goldilocks' Comments and Global Economic News Tuesday 3-19-24

Goldilocks' Comments and Global Economic News Tuesday 3-19-24

Good evening Dinar Recaps,

"User-Ready Mainnet
Phase 2 marks the deployment of a user-ready Mainnet where anyone can deploy and interact with smart contracts. In this phase, the network is ready for more extensive smart contract utilization, so it's the practical beginning of smart contracts on the Stellar network."

At the time of this writing, we are just a couple of hours away from the use of digital currencies going to mainnet.
It will be a transition from testnet interactions with cryptocurrencies to actual deployment and use of cryptocurrencies used on a main server.
Here, actual transactions can be made on a blockchain server between companies and countries going forward.
This will begin increasing demand on our new digital economy and new price pressures based on real values.
This does not change paper currency values just yet, but new liquidation of digital assets such as Stablecoins that represent them will provide new price pressures on them over time. Coin Telegraph

© Goldilocks

PHASE 2

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Cryptos are currently in what is called a retracement. This happens before a major price trend changes such as a Bitcoin halving.

This time is different. We have a temporary price reversal taking place within a larger trend.

The larger trend is the movement of money inside a digital economy. This time will give more people an opportunity to buy into cryptos at a lower price.

It can and will lead to a broader adoption inside the new digital asset-based trading system.

Welcome to the expansion of our new economy.

© Goldilocks

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Stellar Lumens Challenges Ethereum: Ripple Rival Expands Reach with Smart Contracts – XLM Poised to Dominate The World | Crypto News Flash

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Investors are about to find out whether Fed still expects 3 rate cuts in 2024 | Finance Yahoo

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Federal Reserve’s interest rate decision ends markets’ long resistance | CryptoPolitan

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CFTC’s Market Risk Advisory Committee to Meet.

The CFTC’s Market Risk Advisory Committee (MRAC) will meet on April 9 at 9:30 am ET. The MRAC will consider current topics and developments in the areas of central counterparty risk and governance, market structure, climate-related risk, and emerging technologies affecting derivatives and related financial markets.   Gibson Dunn

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Expert Says It’s Not Crazy If XRP Soars 1,500% to $10 | Crypto Base

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Stellar will invest $100M in Soroban smart contract apps in bid to beat Ethereum | VentureBeat

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Banks place client transition readiness under increasing scrutiny | Responsible Investor
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Iraq Economic News and Points to Ponder Tuesday AM 3-19-24

Iraq Economic News and Points to Ponder Tuesday AM 3-19-24

Tlm724 Administrator Bondlady’s Corner

Towards A Multipolar Global Monetary Policy

 Economical 03/18/2024

I do not believe that there is an authority stronger than the dollar in Iraq, as all authorities submit to it willingly, and there are those who justify themselves by defending their dollar interests and others who advise against harming this authority out of fear or greed.

Can we find a way out close to this authority that controls everything, especially since Most of Iraq's revenues are generated through the dollar.

In 2014, BNP Paribas was punished with a fine of $9 billion to be paid to the United States as a result of financing exports from Cuba, Sudan, and Iran with US dollars, because the three countries are under US sanctions, even though the financing process took a fraction of a second when it passed through an account ( Paribas) in New York and nothing more, which made an American court issue this heavy fine despite the fact that all the procedures followed in the transfers were legal according to European laws and despite the fact that the aforementioned bank is a global multinational institution and a financial services holding company that belongs to a friendly country and is headquartered in Paris and is knowledgeable.

The nature of international financial laws is broad, yet it was subjected to this harsh punishment, and  it was not taken into consideration that this bank belongs to allied countries and is one of the Big Five in the Security Council.

These harsh, unilateral measures enabled the Americans to impose their financial hegemony on other countries of the world.

As a result of this method and the fear of harsh sanctions, European companies left Iran in 2018 after they complied with the decision of former US President Donald Trump after his unilateral withdrawal from the Vienna Nuclear Agreement.

In 2015, when the government of Mr. Adil Abdul Mahdi refused to comply with the implementation of sanctions on Iran, it was overthrown.

It is clear that due to the strength of the dollar, the United States has dominated global trade for a long time, but recently the views of many global financial institutions have differed regarding the future of the US dollar, between those who believe in its weakness in the future and those who believe that it will remain strong as the only stable international currency guaranteed in circulation.

 Seventy-eight years ago, specifically after the end of World War II, the dollar became the undisputed reserve and exchange currency around the world,

but after the world became involved with it on the basis of replacing it with gold at a fixed price of $35 per ounce, and after central banks flocked to the dollar in order to build up their own reserves.

Its deposits were as stable as gold, in addition to being easy to keep or manage.

At that time, the Americans began to produce gold when they printed dollars as a counterweight to it.

For example, the Bank of France, starting in 1965, systematically replaced gold with the dollar, before America surprised the world on August 15. / August 1971, without prior coordination with any of its allies, by ending the direct international transfer from the dollar to gold.

After abandoning gold as a complete cover for money, the currency cover began to combine several components, including gold and the major foreign currencies the state owns (the dollar, the euro, the British pound, the Japanese yen, the Swiss franc, the Australian dollar, and the Chinese yuan), which made every fluctuation in The financial and monetary policies in the United States lead to the instability of the currencies of emerging and developing countries, up or down in a way that does not reflect the economic performance of those countries, which constitutes a source of continuous economic danger.

This matter has prompted some countries to use their local currency to settle their commercial transactions in order to avoid the risks of dollar fluctuations or Use of currencies other than US currency.

 After the  significant rise in global oil prices starting in 1973 and  as a result of huge dollar bills, a problem or phenomenon called the “petrodollar” emerged, as the huge amounts produced by the energy markets began to be invested in American markets, which provided a comparative advantage for the United States economy, and led to great frustration among the people.

Its European partners in particular, which prompted them, as a natural reaction, to issue a unified European currency in 1999, where the euro was established as a global currency, but it was unable to compete with the dollar due to the lack of a unified European treasury corresponding to the liquidity of New York markets, and thus the dollar remained in its position and influence as the reserve currency. The main trading in the world.

When the global financial crisis occurred in 2008, it was expected that the dollar’s ​​dominance would decline because the crisis was the responsibility of the United States alone, but the strange irony is that its dominance was strengthened, which prompted President Barack Obama to confirm in March 2009 that the dollar would maintain its dominance over global trade, basing this on political reasons.

Not economic, which is (that America has the most stable and transparent systems in the world), and an example of that transparency is that everyone is aware of how the US budget, the Federal Reserve, and the financial system work, while their Chinese counterparts operate in a way that lacks complete transparency, which has made the dollar a safe haven without a real competitor.

In the short term, which prompts investors to resort to it in any subsequent financial crisis, but this does not negate the decline in its use globally, as the control of the American currency over the world has begun to lose its momentum with the emergence of the phenomenon of “weaponizing the dollar” after the start of the Russian-Ukrainian war, as it resulted in Western economic sanctions on Russia has a bad influence on the global economic, commercial and financial systems in a way that has raised great concerns in global markets regarding the modification of the global financial system.

This anxiety and fear led to a decline in global monetary reserves in dollars to 59% currently, after they constituted about 72% in 1999, which is a significant decline in a relatively short period.

However, the de-dollarization of the world will not be completed in the short term, but it is clear that the movement that has begun is irreversible,  especially since the United States acted “stupidly” when it made its currency a weapon of political pressure, and they (the Americans) have pushed the world - from... Unintentionally - to form a global movement to get rid of the dollar in order to shake the world’s confidence in American financial actions, especially the unilateral financial sanctions it imposed on many countries.

The United States was not satisfied with that, as it further depleted the reputation of the dollar when it froze the foreign exchange reserves of the Russian Central Bank denominated in dollars in 2022 after their participation as a party in the Russian-Ukrainian war, which made non-Western world leaders fear similar behavior with their countries if a country entered into a war.

With one of the neighbors, and that conflict did not satisfy Washington, this means that their countries will lose the bulk of their foreign exchange reserves, which prompted them to begin gradual work to reduce those dollar reserves.

 Global resistance to the dominance of the dollar has taken different dimensions, but the clearest example is the increased activity of the BRICS group in accelerating the launch of its own currency to finance its stock exchanges, and China’s development of its own electronic settlement system between banks to constitute an alternative to the Western-controlled SWIFT system after it banned the “SWIFT” association.

Almost all Iranian banks, and later Russian banks, stopped using the messaging system, as they justified their actions with money laundering problems and not with US sanctions, which prompted Tehran to link its domestic financial clearing system (SEPAM) to Russia’s financial message transfer system (SPFS), which theoretically enables the two countries. Of procedure Cross-border transactions.

This activity was then reinforced when Presidents Vladimir Putin and Xi Jinping met on December 15 and announced plans to develop a joint system for financial messages and clearing between Russia and China.

This announcement included an invitation to international banks to join this system with the aim of deterring the continuing Western threat of economic sanctions.

 The BRICS group of countries, which includes the fastest growing economies in the world, represented by Russia and China, along with India, South Afric Brazil, and other developing countries that have recently joined and others are awaiting approval of their accession requests.

The five founding countries of the BRICS structure do not explicitly hide their intentions, namely that they are working to form a new international order that believes in pluralism and the rejection of exclusivity in political and economic decision-making.

They do not hide their political goals of attracting international forces that reject the current international order.

This group acknowledges its weakness, represented by the close relationship of some of its members with the United States,  but it considers it a challenge that can be overcome over time, through the availability of significant strength factors, such as its share of foreign currency reserves.

Four countries, including (China, Brazil, India, and South Africa) hold about 40% of the world’s total monetary reserves, while  China alone has about 2.4 trillion dollars, which is a very large number, if we know that it is enough to buy two-thirds of the companies in the Nasdaq index.

It is the second largest creditor after Japan.

 As for Russia, it classifies its battle with the West as an “existential battle,” and considers its membership in this group to be a protection for it.

It supports its strategic directions and its own choices in formulating a new global principle that emphasizes that all roads no longer lead to Washington alone.

The serious work of the BRICS group can be seen through the formation of a group of important financial institutions, such as the establishment of the New Development Bank, based in Shanghai, to become a counterpart and competitor to the World Bank, as well as the establishment of the BRICS Fund, opposite the International Monetary Fund.

These two important establishments  announced their goals of supporting growth and development at the international level, which     represents the first step in the BRICS countries’ plan to create a new global order, and to  liberate the world from the restrictions of the two financial institutions  (the World Bank and the International Monetary Fund) that the United States controls in formulating their general policy. In a way that serves its interests, as its opponents accuse it of.

 An important factor accelerating the emergence of the new system is the utilitarian nature of American economic institutions themselves. 

As it is expected to follow its interests and join the new system, it will simply not be more patriotic than the European economic institutions that abandoned Europe and left for America, when their interests required that, when America emerged as a unique power in the world at the financial level, and we may witness the transfer of American capital to China.

And its allies faster than expected, and then the new international bank and fund will be more attractive to international capital, which will contribute to increasing the growing competitiveness of the BRICS markets in attracting global capital, and this will help the group in overcoming the varying points of weakness among its countries represented by poverty rates.

Inequality, in addition to the geographical distance between these countries and the presence of ideological currents of a sharp competitive nature, as is the case between Russia and China.

 Iraq, as a developing country, is important to all parties to the global conflict because of its position in the Middle East and  its possession of the most important elements of the conflict represented by energy.

It can  make the right decision after the picture has become clear about the nature of the global economic trends and  work to attract everyone to compete in investments that benefit the people of Iraq and  provide... Important opportunities in building infrastructure that form the basis for those investments, both Western and Eastern, but he must choose emerging trends when he is in the position of choice, noting that what is rumored about devastating American sanctions against Iraq are merely ideas and stereotypes repeated by some teenagers in politics.

And the economy, because I believe that the United States will not resort to such a measure because it will close the expiry date of its remaining confidence as a global economic authority.

If it does so, it will lose Iraq forever, and it does not want that at all.    

https://alsabaah.iq/93642-.html    

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

"Tidbits From TNT" Tuesday 3-19-2024

TNT:

CandyKisses:  Iraqi move to build the largest solar power plant

Economy News - Baghdad

A member of the parliamentary oil, gas and natural resources committee, Sabah Sobhi, revealed on Tuesday an Iraqi trend to establish the largest solar power plant.

Sobhi said that "the renewable energy law is in the process of discussions and is incomplete so far, and the committee is working in cooperation with the Energy Committee to launch legislation on renewable energy, pointing to "the parliament's interest in legislating this law during the current session."

"The largest solar power plant in Iraq will be built after the law is enacted," he said, adding that "so far the site has not been determined, but approval is in the process of obtaining it

CandyKisses:  Urgent Baghdad governor announces suspension of Tuesday working hours due to rain

{Local: Euphrates News} Baghdad Governor Abdul Muttalib Al-Alawi announced the suspension of official working hours for Tuesday in the departments of the local government of Baghdad due to rain and bad weather.

A statement by the governor's office, a copy of which was received by Al-Furat News, said the disruption came "based on the decision of the Baghdad Provincial Council."

Several provinces announced the suspension of working hours on Tuesday due to the rains, and Baghdad's education directorates suspended their schools.

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CandyKisss:  Sudani reveals progress in ending foreign military presence

Baghdad - Iraq Today:

Prime Minister Mohamed Shia Al-Sudani confirmed progress in ending the presence of the international coalition during his meeting with German Minister of State for Foreign Affairs Tobias Lindner and his accompanying delegation.

A government statement explained that "Prime Minister Mohamed Shia Al-Sudani, German Minister of State for Foreign Affairs, received Tobias Lindner and his accompanying delegation."

During the meeting, Al-Sudani stressed "Iraq's welcome to the presence of German companies and their participation in development projects and infrastructure construction," pointing to "the government's continuation in expanding the investment environment and attracting global expertise, especially with the launch of the development road project and the associated opportunities, and the imminent signing of an agreement by Iraq with Siemens, and other German companies, in the field of gas investment associated with electric power generation," according to the statement.

"The state of stability and security achieved today in Iraq, and the growing capabilities of our security forces, confirm progress in ending the presence of the international coalition and shifting to bilateral relations with member states, especially in the context of the defeat of the terrorist remnants of ISIS," al-Sudani said.

According to the statement, the Prime Minister touched on "the current situation in the Gaza Strip, and Iraq's endeavor to deliver the necessary humanitarian aid to the Gaza Strip under aggression, and to support efforts aimed at a ceasefire and prevent the expansion of the conflict," and called on "the international community to take responsibility in stopping the approach of aggression and the war of genocide to which the Palestinian people are exposed."

The statement added, "For his part, Lindner expressed his appreciation for the size of development, economic growth and security improvement witnessed by Iraq," stressing "the German government's continuation in activating the joint action plan signed by the Sudanese with the German chancellor, during the recent Sudanese visit to Berlin."

He continued, "He also expressed his country's support for the government's steps to end the presence of the international coalition in Iraq," expressing "Germany's readiness to sign a bilateral cooperation agreement with Iraq in the security and military fields, as well as its support for Iraq's position on the need for a permanent ceasefire in the Palestinian territories, and to help the Palestinian people."

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

Tishwash:  Iraq sends technical and military committees to several countries to purchase advanced air defense systems

The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasoul, announced today, Monday, the sending of technical and military committees to several countries to contract for the purchase of advanced air defense systems.

Major General Rasoul said, according to the official agency, “Iraq has contracted French radars and a batch of them have arrived, and we are proceeding to
complete the radar system in general,” indicating that “there are low-, medium- and high-range radars.”

He added, "The Air Defense Command is capable of radar detection and monitoring the movement of aircraft within Iraqi airspace," noting that "the Military Command, led by the Commander-in-Chief of the Armed Forces, confirms the first priority of the Air Defense Command systems."

He stated that "there are technical and military committees that visited a number of countries and made offers to them, along with reviewing anti-aircraft weapons," pointing out that "when contracting for weapons or advanced systems, this will be announced." link

Mot:  ..... I Say!!! -- I Say!!! 3-18-2024

Mot.. Hoping We All Have a Very ~~~3-19-2024

MilitiaMan: Iraqi Dinar Update - Expectation Results - Al-Sudani - Taif Sami - Al-Alaq - Time to show Success

Iraqi Dinar Update - Expectation Results - Al-Sudani - Taif Sami - Al-Alaq - Time to show Success

MilitiaMan and Crew: 3-18-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news…

…https://www.youtube.com/watch?v=O-GodbVXWGk..

Iraq Economic News and Points to Ponder Monday Evening 3-18-24

Iraq Economic News and Points to Ponder Monday Evening 3-18-24

Tlm724 Administrator Bondlady’s Corner

Does Fitch's Rating Affect The Government's Only Financial "Arm"? An Expert Explains

Time: 03/18/2024 11:51:13 Read: 1,898 times  {Economic: Al-Furat News} An economic expert reduced the impact of the decision of the international credit rating agency {Fitch}, after it announced the reduction of the credit rating of the Trade Bank of Iraq (TBI) to {CCC+}.

Abdul Rahman Al-Mashhadani told {Al-Furat News} agency, “This classification is not new because it is an old classification, and it has been Iraq’s classification for years, although it is not good, and the Iraqi Trade Bank does not need bank credit because it is the government’s agent and finances government purchases and does not borrow, but rather it is He makes payments to the government, and talking about anything other than that is outside the jurisdiction.”

He added, "The international agency {Fitch} indicates that Iraqi banking institutions do not have complete transparency, and this is an indicator that we have had for years. The most important thing is that whoever is in charge of managing the Iraqi Trade Bank is being replaced on charges of corruption and mismanagement, so the problem is with the internal environment, not the external one, and this is what affects Iraq's classification." ".

Al-Mashhadani stressed, “The Fitch rating did not add anything new and does not affect Iraq.”

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in a previous press statement, “Credit ratings are linked to the bank’s ability to obtain credit facilities, and the Trade Bank of Iraq (TBI) deals with full coverage of credits in advance, and therefore its documentary credits and financing of government imports will not be exposed to problems.”

He added, "Iraq is rated (b) negative, which is not a good classification, and no unit can be higher than the country's classification. TBI will remain a semi-central bank due to its large number of correspondents, the strength of its capital, and its high profits."

It is noteworthy that TBI Bank is the only Iraqi bank that has the right to send remittances abroad, due to the debts incurred by the country that prevent sending remittances and operations with the Rasheed and Al-Rafidain banks.   LINK

Al-Sudani: We Succeeded In Implementing The 2023 Budget, And We Must Continue To Complete Economic Projects

Money  and business  Economy News – Baghdad  Today, Monday, while chairing a meeting regarding the 2024 budget schedules, Prime Minister Muhammad Shiaa Al-Sudani stressed the importance of proceeding with the completion of economic projects.

Al-Sudani said in a statement reported by his media office and received by Al-Iqtisad News: “It is necessary to focus attention on projects that are nearing completion, and projects that drive the economic cycle and support infrastructure, in addition to projects that provide the largest number of job opportunities and meet the service, health and social needs provided.” On other general necessities.

Al-Sudani stressed that "the success witnessed in implementing the 2023 budget must be invested in completing the remaining economic projects, especially those related to aspects of economic reform, investment, and infrastructure construction in the areas of transportation, health, and municipal services, and supporting productive agricultural and industrial programs."

In the path of comprehensive development and administrative decentralization, he stressed “the importance of selecting projects with the highest priority in the allocations to governorate councils, and making the local targets of the governorates in a state of integration with the programs implemented by the federal ministries, which allows achieving the highest returns and results at the level of employment and development, and meeting basic services.” For all citizens throughout Iraq.

Views 95   03/18/2024 - https://economy-news.net/content.php?id=41591

Oil Announces Its Commitment To Voluntarily Reduce Exports

Energy   Economy News – Baghdad   On Monday, the Ministry of Oil announced its commitment to voluntarily reduce exports.

The ministry said in a statement, seen by Al-Iqtisad News, that “in confirmation of Iraq’s positions in support of the initiatives of the OPEC+ member states to maintain stability and balance in the oil market, the Iraqi Ministry of Oil confirms its commitment to the agreed upon voluntary reduction.”

She added, "Despite the reports received regarding the region's production outside of coordination and agreement with the federal government, and in order to address this, the Ministry of Oil took the initiative to reduce oil exports for the coming months to absorb the increase recorded in Iraq for the past months of January and February."

She pointed out that "coordination is being done with secondary sources to confirm this in their reports issued regarding the production rates of OPEC+ countries for the coming period."

Views 7   03/18/2024 - https://economy-news.net/content.php?id=41608

More Than $242 Million In Central Bank Sales Today

Monday 18, March 2024 12:35 | Economical Number of readings: 326  Baghdad / NINA / The Central Bank of Iraq announced, today, Monday, its total sales of foreign currency through the electronic window.

The window recorded the total amounts of transfers abroad (remittances, credits) at $221,850,680, while the total amount of cash sales amounted to $20,820,000, and the total amount of sales amounted to $242,670,680.

The cash sale was set at 1,305 dinars to the dollar, while the bond credits, international settlements for the electronic card, and foreign transfers were set at 1,310 dinars to the dollar. /End 11

https://ninanews.com/Website/News/Details?key=1113552

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

Provoking Points to Ponder on Decisions 

There is one quality more important than know-how.... This is know-how by which we determine not only how to accomplish our purposes, but what our purposes are to be. - Norbert Weiner

Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved.  - William Jennings Bryan

What must be, shall be; and that which is a necessity to him that struggles is little more than choice to him that is willing.  - Marcus Annaeus Seneca

A wiser rule would be to make up your mind soberly what you want, peace or war, and then to get ready for what you want; for what we prepare for is what we shall get.  - William Graham Sumner

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

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Monday Evening 3-18-24

Subject: Goldilocks' Comments and Global Economic News Monday Evening 3-18-24

Good evening Dinar Recaps,

"BRICS Nations, Russia, and China, have joined forces to teach the US dollar an important lesson in International Markets."

This is a year that can be characterized as a "refactoring process" for the new Quantum Financial System. New codes inside Quantum Technologies are and have been in the process of being rewritten to determine trading percentages through artificial intelligence. Russia and China have joined forces in supporting new laws to govern these changes, and China is providing the Yuan for many of these purchasing transactions on their new digital payment system.

New local currencies being utilized instead of the dollar in trade necessitates many of the new changes taking place to level the playing field among countries who will now have new price pressures on their National currencies to demand shifts in pricing.

The new BRICS currency payment system will lessen the use of the dollar and bring forth more demand for currencies in the East. These demands will require currency rate changes.

As we get closer to the next BRICS summit, this is going to be a topic of interest for the conference. Each country that joins the BRICS Nations are expected to have a commodity-based backing for their currency giving real values to their Quantum Technological Mechanisms that will move their money.

New protocols will be written into the banking/trading system of the East that will scale on their new payment system in transactional trades between countries inside the QFS. CryptoDNES  Spiceworks

© Goldilocks

~~~~~~~~~~

"We are optimizing each step of the inbound tourism process, streamlining procedures ranging from visa applications to flight arrangements, hotel check-ins, shopping, and sightseeing," said Sun Yeli at the end of the 2nd session of the 14th National People's Congress in Beijing."

China is in the process of "refactoring" new codes into their payment system that will align with their own National Currency instead of the Dollar.

Is important to note that this is taking place in several countries around the world especially those joining the BRICS Nations.

The movement from a US dollar focus to a local currency focus is changing the way many of these countries live and pay for their goods and services.   TV Brics   NOEMA Mag

© Goldilocks

~~~~~~~~~~

New price changes across an entire Financial System require new codes to be written into the system that emphasize local currency dominance going forward demands monetary policy changes.

This is why we are witnessing several countries move into a free-floating rate exchange system whereby supply and demand determine their new currency values going forward.

Morocco and Egypt are two of many countries moving to a free-floating regimen in their currency payment systems. These shifts represent an alignment to, and for, a new Global Monetary System.

The new Monetary System is backed by gold and other commodities with new codes being written into these Quantum Mechanisms that will begin forming new price correlations on the markets.

For instance, new interest rates will be based on local currency values instead of the dollar going forward. Gold held by each country as a reserve asset will minimize many of these variations on the market to stabilize Global Economies.

This is an event that has been years in the making. And, this year marks the time and place for many of these transitions to begin. Some economies will be able to motorbize these new changes quicker than others, and it is important for us to watch as these new price formations begin to form on the markets.

© Goldilocks
Atalayar
Middle East Monitor
XM

~~~~~~~~~~

The changes we have been speaking about this morning will no doubt change Market behavioral patterns. Volatility is expected as we shift into new Technological Mechanisms that will guide our Global Economy forward.

Jerome Powell will be addressing many of these changes on Wednesday. It is important that we pay close attention to his words and wording on many of the new monetary shifts that will be taking place the rest of this year.

© Goldilocks

~~~~~~~~~~

XRP Trading Announcement:

XRP Trading Start on Exchange Registered with U.S. Treasury Department.

Atlantis Exchange Listing XRP.

In a recent post on X, Atlantis Exchange disclosed that it included XRP among its list of supported cryptocurrencies. Specifically, XRP commenced trading on the platform on March 17 at 5:00 AM UTC, with the trading pair USDB.

Besides listing XRP, Atlantis Exchange has issued a daring projection for XRP’s value. In particular, the platform asserted that users could witness a 100-fold value increase amid its list of XRP, urging them not to “miss out.”

At the same time, Atlantis Exchange highlighted that XRP is a crypto asset that facilitates cross-border payments. Also, it pointed out that XRP is the native currency within XRPL, a decentralized, open-source blockchain technology capable of settling transactions within a remarkable timeframe of 3-5 seconds.

Brief Summary from Goldilocks:

XRP is the only coin with clear legal status in the US. Just last year, the court declared XRP as a non-Security last year.

XRP has been listed as a Stablecoin, but it's most frequent use going forward will be that of a liquidity coin. XRP began trading with this new peg just last week.

The USDB is pegged to XRP (see above announcement). This has allowed XRP trading to start on the Atlantis Exchange and be registered with the U.S. Treasury Department.

This will allow XRP to be traded on banking and trading platforms here in the United States and in countries abroad. It will give us the ability to form bilateral trade relationships inside the new digital asset-based trading system.   Crypto News   The Crypto Basic.

© Goldilocks

~~~~~~~~~~

What is a Customs Bond? A legal contract, usually issued through a licensed Customs broker, between an importer, a Surety company and US Customs and Border Protection (CBP) that guarantees that the importer complies with Customs regulations.   UPS

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What's happening now in markets:
▼ Dow Futures 39,149.00 (-0.01%)
▲ S&P 500 Futures 5,208.00 (+0.49%)
▲ NASDAQ Futures 18,217.00 (+0.87%)
▼ 10 Year 4.304%
▲ Gold $2,163.90 (0.00%)
▲ WTI Crude Oil $81.58 (+0.01%)
▼ Bitcoin $68,170.00 (-0.26%)
Fear & Greed Index
Greed is driving the US market
MARKET DATA AS OF 7:19 AM ET

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The global chocolate industry is facing its worst crisis since Johnny Depp played Willy Wonka. Demand for chocolate is vastly outweighing the available cocoa supply, leading to skyrocketing cocoa prices that will inevitably make chocolate treats more expensive in supermarkets around the world.

* The Morning Brew

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Who’s on the Hook for Multifamily CRE Mortgages? #1 Taxpayers, far ahead of #2 Banks | Wolf Street

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Stellar Light

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"Tidbits From TNT" Monday 3-18-2024

TNT:

Tishwash:  Ismaik: The solution to the dollar crisis in Iraq is “very simple”

The economic expert, Hassan Ismaik, confirmed that the solution to the crisis of the high exchange rates of the US dollar against the Iraqi dinar is very simple.

Ismaik said in an interview with Al-Maalouma, “The foreign cash reserves that the Central Bank of Iraq owns are what preserve the value of the Iraqi currency, and because Iraq does not receive money except government money, and the private sector smuggles its money abroad.”

He added, “The Iraqi citizen does not trust the banking system in his country,” which means that there is a defect that must be fixed.

 Ismaik believes that "the solution is by placing the money obtained from the sale of crude oil, the main source of the Iraqi economy, as deposits in the central bank and attracting the hoarded funds." In the homes of Iraqis and also attracting the money of investors abroad, the private sector and investment companies.

Ismaik continued, “The success of the solution is linked to Iraq’s development of the banking sector systems and it being an open and not closed system. Reinforcing his vision with leading regional models such as the Arab Gulf countries.”

He pointed out that “there is enormous money coming from the people and the private sector, as well as investment companies.”
He added that “Iraq only needs development in the banking sector system, clarity in this system and not being closed, because when we say it is forbidden to transfer dollars, and it is forbidden to buy with dollars, and it is forbidden to exchange for dollars, your value will immediately lose and decline, and the currency will fall.”

Ismaik stressed that “the dollar crisis ends when there is a solid banking system, as there is huge amounts of money with the people in their homes, and if this money goes to... Banks will change the equation, and the money of Iraq is Abroad will range, at a minimum, between 200-300 billion in deposits in banks.”

Since the end of the year 2022, Iraq has been facing a crisis in the exchange rate of the dinar against the dollar, after the United States took a number of measures to restrict the use of... The dollar is in Iraq and its possession is limited to certain parties, as the exchange rate is witnessing fluctuations and instability despite the measures taken by the Iraqi government and the Central Bank to control the exchange rate. 

The dollar crisis has been accompanied by variation in the methods of its solutions and treatment, especially among those who see it as a crisis that expresses structural imbalances in the system. Iraqi monetary policy, and among those who believe that resolving it requires only responding to it in an intelligent manner.   link

***********

Tishwash:  The Prime Minister expresses Iraq's desire to occupy its position in the international arena

Prime Minister Muhammad Shiaa Al-Sudani received, today, Monday, the Director General of the International Atomic Energy Agency, Mr. Rafael Mariano Grossi.

Al-Sudani confirmed in a statement received by Earth News that “Iraq was one of the first countries that sought to join the agency, abide by its treaties, and worked to establish nuclear reactors for peaceful purposes. Because of his conviction that nuclear energy must be a source of prosperity and not the development of lethal weapons

He pointed out that “at the end of last year, Iraq submitted to the Agency the requirements for its accession to the Nuclear Safety Agreement, and the Joint Agreement on the Safe Management of Spent Fuel and the Safe Management of Radioactive Waste, and it is looking forward to entering again into The field of peaceful applications of nuclear energy.

The Prime Minister expressed “Iraq’s desire to occupy its natural position in the international arena, and to engage in peaceful activity in the field of atomic energy. He also looks forward to assisting the Agency in developing programs and projects related to development in the field of nuclear applications for peaceful purposes.”

For his part, Grossi extended “an invitation to Mr. Sudanese to attend the Nuclear Energy Summit, which will be held in Brussels this March, expressing his appreciation for Iraq’s cooperation with the agency,” stressing that it is “one of the leading countries working with the agency, and he also declared his commitment to working with Iraq in its program and projects.” Peaceful, which includes energy, soil desalination, disease treatment, and other peaceful fields, indicating his aspiration for the Iraqi delegation to visit the agency’s headquarters in the coming weeks;

 “To work on developing a road map to develop Iraq’s work, build infrastructure, and obtain nuclear technology in peaceful fields.”  link

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

Tishwash:  Al-Sudani: We succeeded in implementing the 2023 budget, and we must continue to complete economic projects

Today, Monday, while chairing a meeting regarding the 2024 budget schedules, Prime Minister Muhammad Shiaa Al-Sudani stressed the importance of proceeding with the completion of economic projects.

Al-Sudani said in a statement reported by his media office and received by Al-Iqtisad News: “It is necessary to focus attention on projects that are nearing completion, and projects that drive the economic cycle and support infrastructure, in addition to projects that provide the largest number of job opportunities and meet the service, health and social needs provided.” On other general necessities.

Al-Sudani stressed that "the success witnessed in implementing the 2023 budget must be invested in completing the remaining economic projects, especially those related to aspects of economic reform, investment, and infrastructure construction in the areas of transportation, health, and municipal services, and supporting productive agricultural and industrial programs."

In the path of comprehensive development and administrative decentralization, he stressed “the importance of selecting projects with the highest priority in the allocations to governorate councils, and making the local targets of the governorates in a state of integration with the programs implemented by the federal ministries, which allows achieving the highest returns and results at the level of employment and development, and meeting basic services.” For all citizens throughout Iraq   link

Mot: . Soooooooooo - Do Yas Feel It?????

Mot: poor ole ""Earl""

MilitiaMan: Iraqi Dinar-- IQD-- Dinar Update -100% Electronic - Real Effective Exchange Rate - Expected

Iraqi Dinar-- IQD-- Dinar Update -100% Electronic - Real Effective Exchange Rate - Expected

MilitiaMan and Crew:  3-17-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=F9LSr_ySgdU