Goldilocks' Comments and Global Economic News Friday Evening 3-29-24

 Goldilocks' Comments and Global Economic News Friday Evening 3-29-24

Good Evening Dinar Recaps,

As we approach the MICA testing and implementation of regulating Global cryptocurrencies, Exchange Traded Notes or ETNs THAT TRACK INDEXES, BONDS AND OTHER ASSETS will soon become available on May 28th, 2024.

MICA's pilot program is expected to be done near the above date as well. This will enable us to move forward with Global Cryptocurrency Regulations.

While all of this is going on, Phase 2 of Project Aurora progresses forward along with MICA. This includes anti-money laundering (AML) mechanisms to support the new digital economy. It ensures a proof of concept application able to scale this and other pilot programs.

Project Aurora allows banks to validate investments in digital transformation, and it minimizes the risk of a costly mistake in a full-scale implementation of a project such as MICA.  BIS  Asana  RegulationAsia  Lucinity

© Goldilocks

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Look for a Ripple to begin making its move when Global Regulations are put into place along with other Tokenized Assets.

Why?

At that time, the utility will become the driving force for all our cryptocurrencies inside the new digital asset-based trading system.

Demand always creates opportunity for supply. Don't get me wrong. You have to have both supply and demand, but demand creates the need for supply and use case scenarios.

These are the things that create values for living and prices to go along with it.

© Goldilocks

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"Citigroup strategists expect the Federal Reserve to start cutting interest rates in June, the bank said after the Personal Consumption Expenditures (PCE) for February was released today.

Citi's projections are now more in line with the Federal Reserve's expectations for the upcoming easing cycle. In a research note, the strategists said they expect Chair Jerome Powell to maintain a dovish stance despite recent hawkish signals from other Fed officials."

This would not be a surprise to me due to the fact that the lowering of rates would help kick-start the new digital economy.

MICA is expected to be completed by May 28th, 2024. It will give regulations and demands for new digital assets to commence.

A lowering of interest rates after holding back Commodity prices for years would send these new Tokenized Assets backed by gold and other Commodities through the roof.

Timing is everything my friends, and these new price pressures on Stablecoins that represent various countries' currencies would begin to put price pressures on the paper money you and I hold.

Watch for laws to govern these new Tokenized Assets to begin coming into play these next two months.

© Goldilocks
Investing News

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 Long-run price stability could be a key feature of the gold standard, researchers with the Federal Reserve Bank of Philadelphia find. 

In their working paper, published in February, Jesu‌s Ferna‌ndez Villaverde and Daniel Sanches explore how the gold standard would operate as a monetary framework in a hypothetical small open economy. 

They argue that the price level would consistently converge to its long-run equilibrium value. Inflation and deflation would be “merely temporary phenomena”   Central Banking

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OFAC Settlement Illustrates Sanctions Compliance Risks for Foreign Asset Managers Trading U.S. Securities | Privacy & Information Security Law Blog

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London Stock Exchange Announcement:

The London Stock Exchange has announced the launch of a market for Bitcoin (BTC) and Ethereum (ETH) exchange-traded notes (ETN). In a notice issued on Monday, the United Kingdom’s major stock exchange said that the Crypto ETNs will be rolled out on May 28.

The stock exchange had earlier revealed that it would accept applications for the admission to trading of Bitcoin and Ethereum Crypto ETNs in the second quarter of 2024.

In the latest update, the London Stock Exchange said it will accept applications for trading these crypto ETNs from April 8, 2024.   Live Mint

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Australia's Banking Announcement:

Australia’s High Value Clearing System Has Adopted ISO 20022   Regulation Asia

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Markets: Stocks finished the first quarter strong (markets are closed today for Good Friday), with the S&P 500 and Dow closing at record highs. Tech stocks continued to drive the gains this quarter, while investors were giddy that the Fed might soon cut interest rates. Sadly, fallen meme stock AMC couldn’t join the party: It dropped 14% after the movie theater chain announced a stock sale.

© The Morning Brew

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IMF-World Bank Spring Meetings 2024 – It’s Coming | Youtube

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"Tidbits From TNT" Friday Morning 3-29-2024

TNT:

Tishwash:  Mandalawy: Achieving security, stability and progress is achieved through complete sovereignty of Iraq

The Acting Speaker of the House of Representatives, Mohsen Al-Mandlawi, stressed today, Thursday, that achieving security, stability and progress is achieved through complete sovereignty of Iraq.

"The cadres of Badr were still making sacrifices and striving for Iraq," said Mandalawi, in a speech he delivered on the occasion of the 43rd anniversary of the founding of the Badr organization، The Iraqis stood before many attempts to drag the country into sectarianism, and they responded to the great call of the fatwa of the highest religious authority against terrorism, and victory was the ally of the Iraqis on every occasion".

He added that "Iraq is going through many and great challenges represented by corruption and drugs that ravage our children, as well as achieving security and stability, and these challenges require a spirit of jihad that is supported and shared by Iraqi society".

I drew that " Iraqis are looking for an integrated sovereignty for our country, and this is done by ending the presence of the international coalition in Iraq, and turning to an external relationship based on mutual respect and in the interest of our country، We cannot enjoy stability, security, or progress without the full sovereignty of the country".  link

CandyKisses:  Parliamentary Finance hopes to reach the current year's budget tables before the end of next week

 Baghdad - Iraq Today:   2024/03/29 10:34 

The Parliamentary Finance Committee clarified the most important priority sectors in the 2024 budget, and while expressing its hope to send the budget tables to Parliament next week, it clarified the size of the amounts disbursed by the governorates last year.

The head of the committee, Atwan Al-Atwani, stated that "the Finance Committee and the House of Representatives support the governors, and this was embodied through the necessary financial allocations in the emergency support law and in the 2023 budget, which reached the financial allocation to the governorates with the reconstruction funds of the liberated areas up to 10 trillion," noting that "the number of projects reached about 5,500 projects in all governorates at a total cost of 49 trillion dinars."

He added that "the total spent of the 2023 budget of the 10 trillion is 3 trillion and 300 billion distributed by 1 trillion and 300 billion dinars as completed work arms and 2 trillion and 200 billion to finance projects until the end of 2023," noting that "our recent meeting with the governors came to embody the support of the Finance Committee and the House of Representatives for the governorates to study the obstacles that prevent the completion of these projects."

He stressed that "the Finance Committee is waiting for the budget tables from the government, and we expected the government to vote on them in its last meeting last Tuesday."

He pointed out that "there are two tracks that the budget takes in approving it, which is its approval by planning and financing by the Ministry of Finance," pointing out that "the 2024 budget will focus on the sectors of health, education, electric power and housing according to priority."

He stated that "the mechanism for distributing budget amounts between governorates is through population ratios and poverty," explaining that "in the 2023 budget, specific amounts were added to all governorates, regardless of the criteria adopted by the Ministry of Planning, feeling that the governorates need support and allocate sufficient funds to promote the services sector."

He pointed out that "the tables determine the course of spending and allocation in the budget," pointing out that "the House of Representatives has the right to make transfers between ministries in the budget law."

Al-Atwani expressed his hope that "next week will be the date for sending the budget to the House of Representatives," explaining that "there are some provinces and ministries that stop funding and are waiting for the approval of budget tables."

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Tishwash:  Sudanese: Financial and administrative corruption has crippled the country and wasted wealth

Prime Minister, Muhammad Shiaa Al-Sudani, confirmed today, Thursday, that financial and administrative corruption has crippled the country and wasted wealth.

Al-Sudani said in a speech he delivered on the occasion of the 43rd anniversary of the founding of the Badr Organization, that “the Badr Organization presented its best men and leaders as martyrs in the war against terrorism in order to consolidate the gains achieved within a pluralistic democratic system that guarantees freedoms and rights.”

He added: "We have devoted our efforts to preserving these constants and gains since we assumed our responsibility to form the government, following a political impasse, and we have been keen for our government to be representative of all components and sects, without discrimination or bias, and to work to serve all Iraqis, as we called our government." Naming the National Service Government, because our people have been very patient while waiting for us to improve their service and living conditions.”

He continued, "We have set a set of priorities in our government program, which are the same basic needs of every Iraqi. We will continue to work to achieve comprehensive reforms in all sectors, and fight financial and administrative corruption that has disrupted projects and wasted wealth."

He stressed: "We have fulfilled many of the objectives of our commitment to providing comprehensive services and completing the projects that were stalled and delayed. We completed the governorate council elections in a stable atmosphere and safe conditions. We hope that all the forces that formed the local governments will work in the spirit of one team and reject the ongoing political disagreement."

He pointed out that "provincial councils are an important link in the transformation of the administrative system towards administrative decentralization, based on the constitution. Our government has worked to eliminate internal and external crises, move the relationship with the international coalition to a new form, and end its presence among the most important files that we worked on, and confirmed in the Government programme.

He pointed out that "the challenges we face today require all political forces to join hands and cooperate in order to cross the shores of security and development, as our government has launched major economic and development projects, and political and security stability make Iraq an attractive environment for reconstruction and investment by major international companies, and maintaining stability is important." In Iraq, it is the responsibility of all political forces.”

He noted that "the Palestinians in Gaza have been subjected, for months, to the most horrific killings and destruction at the hands of the occupation forces, in the face of shameful international silence and an abandonment of moral responsibilities by the major powers." link

Mot:  .. UH OH -- ole ""Fred"" da Bunny – siiggghhhhhh

Mot: .... did that really Happen

Iraq Economic News and Points to Ponder Thursday Evening 3-28-24

Iraq Economic News and Points to Ponder Thursday Evening 3-28-24

Tlm724 Administrator Bondlady’s Corner

Electronic Payment Is Sustainable Growth

 Economical 03/28/2024  Muhammad Fadel Al-Khafaji  Electronic payment is one of the modern innovations that enhances economic growth in the country, as it allows individuals and companies to conduct financial transactions with ease and safety, by  supporting the growth and sustainability of the local economy while  maintaining its stability and economic standing.

 The electronic payment process contributes significantly to enhancing government resources and collecting them in a reliable, secure and transparent environment, relying on the infrastructure of payment systems and their platforms through central control managed by the Central Bank of Iraq, banks, and payment service providers, as it is an important link in a major goal that seeks to achieve Reducing the phenomenon of cash economy.

  Electronic payment reduces momentum within banks and facilitates the process of e-commerce and online shopping.  Thanks to this technology, companies can  reduce costs,  increase productivity, and  drive transactions through banking and financial channels, which enhances sustainable economic prosperity in the country.

Electronic payment contributes to improving flexibility and speed in payment processes, allowing individuals and companies to execute transactions immediately and without delay.

 Electronic payment can also be used at any time and in any place, which makes it the ideal choice for individuals, by purchasing all their needs through the electronic payment method, through electronic cards that allow you these services.

The electronic payment method enhances transparency and financial inclusion in the country, as

it reduces the rate of tax evasion and financial fraud and facilitates international money transfers.

 In this way, electronic payment makes significant progress in achieving economic development and enhancing financial stability in the country.     https://alsabaah.iq/94244-.html

The Minister Of Finance Is Following Up On The Field The Progress Of The Newly Implemented ASYCUDA System

Thursday 28, March 2024 14:22 | Economical Number of readings: 170  Baghdad / NINA / Today, Thursday, the Minister of Finance, Taif Sami, conducted a field visit to the headquarters of the General Authority for Customs, during which she was briefed on the workflow mechanism during a tour she conducted within the corridors and departments of the Authority, and learned about the procedures of the customs modernization team according to the automation system (Global Asycoda).

The United Nations experts gave a brief explanation about the nature of the technical processing of materials and goods in customs centers.

Minister Sami noted some observations related to the work of the program and expressed directions regarding it and the necessity of accelerating its implementation so that it can be circulated in the rest of the customs centers. She also praised the efforts made that contributed to the implementation of the (ASYCUDA) program at the air cargo customs and the large welcome yard in the port of Umm Qasr, stressing the provision of full support and overcoming... Obstacles facing the work team responsible for automating customs procedures.

The Minister of Finance praised the efforts of the Authority’s employees and its general administration and urged them to make more efforts by developing functional capabilities and skills, especially in the field of working on the customs automation and modernization system./End 5

https://ninanews.com/Website/News/Details?key=1118291

Ismaik: Iraqi Youth Are Qualified For The Labor Market Because They Are “Tremendous Energy”

 Time: 03/28/2024 12:39:37 Read: 910 times  {Local: Al-Furat News} The economic expert and businessman, Hassan Ismaik, stressed the need for young people in Iraq to invest in the labor market.  Ismaik told {Al-Furat News}, a copy of which:

“50% of the Iraqi population are young people, and   investing in them leads to achieving economic goals, and Iraqi youth must be relied upon to implement projects inside Iraq.”

He added, "While the current government, headed by Muhammad Shiaa Al-Sudani, is moving forward to achieve comprehensive development in the country's various sectors,

it must employ young energies and benefit from their potential, by supporting them and developing their local communities, and making them a major partner in the government's investment and strategic projects."

He stressed the importance of "relying on Iraqi youth to implement investment projects inside the country," adding that "youth have important roles in developing the economy of Iraq, as they are a great economic force that can be exploited for comprehensive development, and in all sectors, and  by motivating them to be creative in various fields, it is possible to obtain... On  creative entrepreneurial ideas, and  increasing production and income for themselves and those working in those fields, which ensures success and progress.” 

In the same context, Ismaik pointed out that Iraqi youth are known to  have a high percentage of educated people,   have scientific achievements inside and outside their country, and     are qualified to be at the helm of leadership towards development. He stated that"the Iraqi young man is  qualified for the labor market and is  able to build his country because he has the basis for that, as the Iraqi people have a tremendous energy in their nature."  https://alforatnews.iq/news/إسميك-الشباب-العراقي-مؤهل-لسوق-العمل-كونه-طاقة-جبارة      

Forming A Council For “Competition And Preventing Monopoly”

 The first 03/28/2024  Baghdad: Omar Abdul Latif  The current government efforts to control the market and inflation in general have escalated recently, after the announcement of the first steps to form the Council for “Competition Affairs and Monopoly Prevention.”

 Council Advisor Dr. Ikram Abdel Aziz, in an interview with Al-Sabah, said,  “The government formed this council from the public and private sectors to reinforce this principle and carry out its work in accordance with what was stated in the Competition and Monopoly Prevention Law No. 14 of 2010.”

 Abdel Aziz added that “the Council will work to enhance the movement of production, trade and services, without giving any room for monopoly, economic concentration and marketing abuse,” noting that  “there are certain lines that must be studied and monitored to limit these practices,” indicating that  “the Council will be a supervisory and controlling body.”

To move prices and prevent commercial fraud, as the law will include many provisions that prevent oral and written monopolistic practices.”  Abdel Aziz continued,  “The issue of competition and preventing monopoly is important, and there is a need for awareness and cooperation of all relevant ministries and authorities,” noting the necessity of “joining efforts to support this trend, as this council will monitor and follow up on imported products and what can be produced locally.”  

The council's advisor indicated that "the prospective council will cooperate with security agencies such as economic security and organized crime in order to take legal measures against violators," noting that "the council will permanently submit its reports to the Prime Minister regarding the tasks for which it was established."      https://alsabaah.iq/94265-.html    

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

Provoking Points To Ponder On Failures and Mistakes

Imagine a congress of eminent celebrities such as More, Bacon, Grotius, Pascal, Cromwell, Bossuet, Montesquieu, Jefferson, Napoleon, Pitt, etc. They would be an Encyclopedia of Errors. - Lord Acton

Flops are a part of life's menu, and Eve never been a girl to miss out on any of the courses.- Rosalind Russell

Every man's got to figure to get beat sometime.- Joe Louis

Who thinks it just to be judged by a single error?- Beryl Markham

Man errs as long as he struggles.- Johann von Goethe

Mistakes are part of the dues one pays for a full life.- Sophia Loren

Mistakes are the usual bridge between inexperience and wisdom.- Phyllis Therous

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

http://famousquotesandauthors.com/quotes_by_topic.html

Iraq Economic News and Points to Ponder Thursday Afternoon 3-28-24

Iraq Economic News and Points to Ponder Thursday Afternoon 3-28-24

Tlm724 Administrator Bondlady’s Corner

Parliamentary Expectations That The Dollar Exchange Rate Will Reach 140 Thousand Dinars

Economy | 03/28/2024  Mawazine News – Baghdad  MP Mudar Al-Karawi confirmed today, Thursday, that the parallel market decreased by 10% within 3 months in Iraq.

Al-Karawi told Mawazine News, “The efforts of the Central Bank and the actions of the Ministry of Finance reduced the influence of the parallel market and led to a reduction in the exchange rate by 10% within 3 months.”

He added, "The exchange rate reaching 140,000 dinars per $100 is very likely in the coming weeks."

He pointed out that "reducing smuggling, automating procedures, and controlling the movement of money and payments are all reasons that contributed to creating financial stability and pushing the parallel market to decline, albeit very slowly."

Fluctuations in the exchange rates of the US dollar in Iraq have raised fears that the dinar may suffer a new shock in the coming days.

In building the financial budget, Iraq depends on the revenues generated from the sale of crude oil by up to 96%, as the volume of Iraq’s oil production currently amounts to more than 4 million barrels per day according to OPEC Plus specifications, and its export capacity reaches more than 3 million barrels per day.   https://www.mawazin.net/Details.aspx?jimare=244777

The Stock Exchange Announces The Launch Of Trading On “Emaar Bonds”

Iraq Stock Exchange  Market   Economy News – Baghdad  The Iraq Stock Exchange (the Stock Exchange) announced, on Thursday, the launch of trading on the third issuance of “Emaar bonds” at the deposit center.

The stock exchange said in a document received by Al-Eqtisad News, “Based on the decision of the Securities Commission and the decision of the Board of Governors to list and deposit the trading of Emaar bonds (the third issue), and on the occasion of the completion of technical procedures in the market, deposits of the third issue (Emaar bonds) will begin at the deposit center.” By owners of bonds of all categories as of Thursday 3/28/2024.”

The stock exchange added, “The bonds will be launched for trading starting from the Sunday session, 4/21/2024, on the bond platforms.”

The stock exchange pointed out that “two-year bonds of (500) thousand dinars mature on 12/30/2025, with an annual interest rate of (6%), paid every six months.”

She added that "four-year bonds of one million dinars mature on 12/30/2027 with an annual interest rate of 8% paid every six months."

The stock exchange confirmed that "trading is according to the bond category on the bond platform, and the rate of change is 5% up and down from (the price calculated for the bond on that day during the issuance period) according to the table received from the Central Bank of Iraq."

She stated that “the minimum commission for the brokerage company is 1,000 dinars, and the commission rate is 0.003 of the value of the bond when trading,” noting that “the bond trading session lasts from 10 a.m. until 12 noon.”126 views  - https://economy-news.net/content.php?id=41960

Oil Prices Fell For The Second Day With An Increase In US Inventories

Economy | 10:27 - 03/28/2024   Mawazine News – Baghdad  Oil prices fell for the second day in a row after a report on a rise in crude inventories in the United States, the world's largest oil consumer, and indications that major producers are unlikely to change production policy at a technical meeting scheduled for next week.

Brent crude futures for May fell 74 cents, or 0.9%, to $85.51 a barrel by 04.20 GMT. The May contract is scheduled to expire on Thursday, and the most actively traded June contract fell 68 cents, or 0.8%, to $84.95.

US West Texas Intermediate crude futures for May delivery fell by 64 cents, or 0.8%, to reach $80.98.

Oil prices fell this week after rising to their highest levels since October last week, and remained about 3% higher than the average closing price in the first week of March.

John Rong Yip, a market strategy analyst at IG in Singapore, said, “The sharp rise in US crude inventories and expectations about the possibility that the OPEC+ alliance will not change production policy next week led to a further decline in oil prices in today’s session.”

https://www.mawazin.net/Details.aspx?jimare=244743

Decrease In The Dollar Exchange Rate On The Baghdad Stock Exchange

Economy  Thursday, March 28, 2024  Baghdad/National News Center  Today, Thursday, the dollar exchange rates recorded a decline against the Iraqi dinar on the Baghdad Stock Exchange.

Dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 147,350 Iraqi dinars for every 100 dollars, while yesterday, Wednesday, they recorded 148,200 Iraqi dinars for every 100 dollars.

Selling prices in exchange shops in local markets in Baghdad reached 148,250 dinars, while purchasing prices reached 146,250 dinars for every 100 dollars.    https://nnciraq.com/251748/

Iraq Begins Building Two New Tankers To Transport Petroleum Products

Reconstruction and building  Economy News – Baghdad  The Iraqi Oil Tanker Company (National Carrier) announced today, Thursday, that the rate of transportation of oil products produced in Iraqi refineries has increased to 65% after the two tankers, Akkad and Sumer, entered work.

While it confirmed the imminent announcement of the construction of two new tankers to transport the products, it revealed a plan to enter into real partnerships. With major companies to own giant tankers.

The company's general manager, Ali Qais, told the official agency, followed by "Al-Eqtisad News", that "the Iraqi Oil Tanker Company previously owned 29 tankers of different sizes, but as a result of the wars and conflicts that the country went through, this fleet was completely destroyed, and Iraq began to sell oil in bulk and not... And that is why the Oil Tanker Company sought after 2003 to restore its position.”

Qais added, “The company owns 4 tankers, which are oil product tankers only (Tigris, Euphrates, Shatt al-Arab, and Baghdad) with a capacity of 13 thousand tons. In 2019, it signed a contract to build two tankers according to international specifications, namely (AKD and Sumer) to transport oil products.”

He continued: “We are now in the process of negotiating with international companies to enter into major partnerships for the purpose of owning tankers, as well as restoring the activity of transporting Iraqi crude oil, as the rate of transport of petroleum products produced in refineries reached 65% after the entry of the two tankers (AKKD and SUMMER),” stressing: “

We are now in the process of announcing the construction of two new tankers to transport products, and we will try to reach 100% of product transport.”

Regarding the percentage of exported quantities of crude oil, Qais explained, “The exported quantities of crude oil are sold through the oil marketing company, that is, the purchasing companies are the ones that transport the oil because we sell it subtracted and not in the form of a liquid. However, the Minister of Oil stressed the necessity of restarting the activity of transporting Iraqi crude oil.” By Iraqi tankers.

He pointed out that "the company's future plan is to build two tankers for oil products and enter into real partnerships with major companies for the purpose of owning giant tankers to transport Iraqi crude oil."    222 views 03/28/2024 - https://economy-news.net/content.php?id=41956

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

Provoking Points To Ponder On Failures and Mistakes

Imagine a congress of eminent celebrities such as More, Bacon, Grotius, Pascal, Cromwell, Bossuet, Montesquieu, Jefferson, Napoleon, Pitt, etc. They would be an Encyclopedia of Errors. - Lord Acton

Flops are a part of life's menu, and Eve never been a girl to miss out on any of the courses.- Rosalind Russell

Every man's got to figure to get beat sometime.- Joe Louis

Who thinks it just to be judged by a single error?- Beryl Markham

Man errs as long as he struggles.- Johann von Goethe

Mistakes are part of the dues one pays for a full life.- Sophia Loren

Mistakes are the usual bridge between inexperience and wisdom.- Phyllis Therous

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

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Thursday Afternoon 3-28-24

Goldilocks' Comments and Global Economic News Thursday Afternoon 3-28-24

Good Afternoon Dinar Recaps,

"The collapse of a major bridge along a crucial trade corridor outside Baltimore idled shipping at one of the East Coast’s busiest ports, tied up coal shipments, and pushed retailers, truckers, and industrial firms to reroute shipping volumes to contain the economic fallout of the catastrophic event."

An event of this magnitude does take a toll on an already fragile Market. We have to remember Market shifts such as these do not happen right away.

The market lags behind a good 4 to 5 days before events like this begin to show up. We will have a choice to add liquidity to the market inflating it more, or we will witness it go to a real value.

The Dow is at its maximum price ever, and there is not another referencing price to match it.

This has the potential to cause an aggressive movement downward to its 200-day moving average. And, an event like this in the shipping industry could take months to years to recover.

Is history repeating itself? Although the circumstances are different, we have the same scenario at play whereby the shipping industry is disrupted. This happened on a much grander scheme when Donald Trump was our president. His administrative team brought us back by the end of the year. Ironically, it was about the same time of the year. It was just before an election too.

This gives everyone an idea just how events such as these can create havoc among the markets. At that time, we considered a currency intervention as we neared the end of the chaos.  WSJ

© Goldilocks

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"In Baltimore warehouses registered with the London Metal Exchange, there are 756 metric tons of nickel, 150 tons of tin and 50 tons of copper, LME data shows."

The measurements above were reported about 2 days ago. The movement of metals supports the banking system. It also supports the dollar.

This gives us an idea of what we may be facing in the banking system as well. When the movement of metals is slowed down, it will have a corresponding effect on the banking system that supplies it's liquidity.   Reuters

© Goldilocks

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"A Basel 3 compliant bank = your Redemption Center, this is where you can choose to exchange."

© Freedom Fighter

"All roads lead to Gold, and Gold will set us free."

© Goldilocks
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"Top smelters agreed the spot market had become disconnected from true market fundamentals, one meeting participant told Reuters."

“It is meaningless to set a guidance price in the current market,” the source added, speaking on condition of anonymity."

Copper derives its prices from mining production, global demand, currency exchange rates, inventory levels, and much more.

Copper is decoupling from the dollar. I really hope you still have those copper pennies and nickels we have talked about for years.

A decoupling event of copper from the dollar would allow both monetary systems to find their real values.    Mining

© Goldilocks

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Did you know that copper tells you how well an economy is doing?

© Goldilocks

https://www.reuters.com/plus/copper-as-an-economic-indicator

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"Post-Covid correlation patterns between commodity prices and the US dollar will become more common in the future. There is a robust and significant long-run relationship between the US dollar and the US terms of trade. In the past, when the United States was a net commodity importer, higher commodity prices corresponded to a lower US terms of trade and a weaker US dollar. Now that the United States is a commodity exporter, higher commodity prices raise the US terms of trade and strengthen the US dollar."

It may not take long for other Commodities to start decoupling from the market fundamentals as copper is doing now.

Then, we will have the freedom of our gold and silver markets to go to their real values.

As our commodity markets are released to real values and real fundamentals, our ability to formulate prices on global currencies based on these new values will become possible.  BIS

© Goldilocks

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"India's payments landscape is on the brink of a major transformation as NBBL prepares to roll out interoperable bill payments network. The goal is to establish standardized rules and design the system for seamless interoperability across various banking platforms."

This will allow The Reserve Bank of India's money to move on to an interoperable system for internet banking transactions.

This new payment system will go through the National Payments Corporation of India the (NPCI).

Interestingly, this is showing up as the MICA rollout of crypto regulations is coming to their final conclusion at the end of May 2024. Will we see a FedNow announcement soon? One-Percent Club Linkedin

Time will tell.

© Goldilocks

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Trains, planes, container ships and now bridge's.
🚢👀🔥

Did you know a second bridge had an incident today also?

A “spontaneous combustion situation” with raw wood products at a landscaping supply center caused a massive fire underneath the Valley View Bridge in Ohio early Tuesday morning.

Remember this is just a coincidence.

The FBI and Joe Biden have stated nothing unusual is happening.

Community notes and mainstream media fact checkers will not allow any debate.
Twitter @DarkIILight

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SEC Adopts Reforms Relating to Investment Advisers Operating Exclusively Through the Internet | SEC

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Hong Kong Monetary Authority - HKMA and SFC further consult on enhancements to Hong Kong’s OTC derivatives reporting regime | HKMA

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Ripple Vs. SEC Update: Judge Torres Weighs Extending XRP Lawsuit Fairly - Forex News by FX Leaders | FX Leaders

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I hope everyone has a peaceful and reflective Easter weekend. I really enjoy this time of the year as it gives me an opportunity to discern just how grateful I am and can be for viewing the world around me through the eyes of the very one who came to save us.

Please keep your focus here as I have word from my banking sources that the RV is not going to happen around Easter. We are just not simply there yet my friends.

© Goldilocks

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"Over $1B in U.S. Treasury Notes Has Been Tokenized on Public Blockchains.

Tokenized Treasuries are digital representations of U.S. government bonds that can be traded as tokens on the blockchain."    Coindesk

By Omkar Godbole

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I just wanted to update everyone on the CBI contact Dee, Sam, and I speak to on occasions. We are so proud of him.

He has a new role. Central Bank of Iraq (CBI) Investment AND Foreign Remittances Directorate of Iraq. 

© Goldilocks  😉

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Iraqi News Highlights and Points to Ponder Thursday Afternoon 3-28-24

Iraqi News Highlights and Points to Ponder Thursday Afternoon 3-28-24

A Deputy Expects The Dollar Exchange Rate To Reach 140 Iraqi Dinars

Today 10:32   Information/Baghdad  Representative Mudar Al-Karawi confirmed today, Thursday, that the parallel market decreased by 10% within 3 months in Iraq.

Al-Karawi told Al-Maalouma, “The efforts of the Central Bank and the measures of the Ministry of Finance reduced the influence of the parallel market and led to a reduction in the exchange rate by 10% within 3 months.”

He added, "The exchange rate reaching 140,000 dinars per $100 is very likely in the coming weeks."

He pointed out that "reducing smuggling, automating procedures, and controlling the movement of money and payments are all reasons that contributed to creating financial stability and pushing the parallel market to decline, even if very slowly."  LINK

Al-Yasiri: The American Administration Is Working Hard To Destroy The Iraqi Economy

Information/Baghdad...  The political and security analyst, Muhammad Al-Yasiri, today, Thursday, accused the American administration of continuing its hostile policy to destroy the Iraqi economy.

Al-Yasiri told Al-Maalouma, “The US Treasury Department continues to restrict the flow of dollars to the Central Bank of Iraq and reduce cash liquidity.”

He pointed out that "the American administration is working hard to restrict the Iraqi government and discourage it from demanding the removal of its occupying forces from the country."

He continued, "The American restrictions on Iraq regarding the dollar clearly confirm the lie of the so-called friendship of the United States of America with Iraq."

The US Treasury Department recently imposed economic sanctions on eight Iraqi banks, preceded by sanctions on fourteen others, and prevented them from dealing in the dollar currency, as the reasons behind the imposition of such sanctions were not explained.   LINK

Parliamentary Integrity Presents A File Related To Kuwaiti Violations Of Iraqi Oil

Information/Baghdad...  Today, Thursday, the Parliamentary Integrity Committee presented the file of Kuwaiti violations on oil lands in Basra Governorate and within the administrative borders of Iraq.

Committee member Intisar al-Maliki told Al-Maalouma, “Parliamentary Integrity held a meeting with the head of the Integrity Commission to discuss a number of files and issues related to financial and administrative corruption.”

She added, "The most important issues, news, and rulings were discussed, while the files of lagging projects, financial waste, transfer of funds, distribution of land, and social benefits were presented."

Al-Maliki indicated that "the meeting focused on the issue of Kuwait's violations of Iraqi oil lands."

Kuwaiti violations are still continuing, and this time they included the border oil fields shared with Iraq according to a plan prepared by Britain, as historical maps confirm the right of Iraq, which owns 224 miles of oil fields towards the Arabian Gulf and Khor Abdullah, amid silence from the Ministry of Foreign Affairs regarding these violations.    LINK

“Tough” Comments On Interest Rates Raise The Dollar Globally

Money  and business  Economy News - follow up  The dollar received a boost against its major currency counterparts, during trading today, Thursday (March 28, 2024), as a Federal Reserve official said that they are not in a rush to lower interest rates amid stubborn inflation, at a time when traders are awaiting major economic data.

Meanwhile, the yen maintained its position against the dollar after Japan's top monetary policy officials indicated on Wednesday that they were ready to intervene. The Japanese currency is still not far from the level of 152 against the dollar.

Federal Reserve Governor Christopher Waller said that the latest inflation data, which was disappointing, confirms the need for the US central bank to refrain from reducing the target interest rate in the short term.

The dollar index, which measures the performance of the US currency against major currencies, rose in the wake of Waller's comments and saw little change, settling at 104.41 points. It has increased about three percent so far this year.

Waller's speech is "evidence that the Fed is more cautious about stubborn inflation and perhaps even accelerating price growth again," said Kyle Rodda, a financial markets analyst at Capital.com.

Traders are awaiting key US inflation data to be released tomorrow, Friday, after a larger-than-expected jump in US durable goods orders on Tuesday, which has already strengthened the dollar against the yen.

The dollar reached 151.975 yen yesterday, Wednesday, its highest level against the Japanese currency since mid-1990.

But the yen rose slightly after the Japanese authorities held a meeting, on Wednesday, regarding the currency’s decline, and chief currency official Masato Kanda said that he “would not rule out taking any steps to respond to erratic movements in the foreign exchange market.”

Finance Minister Shunichi Suzuki said authorities could take "decisive steps," language he has not used since Japan's last intervention in 2022.

In one of the transactions, the yen reached 151.37 against the dollar.

As for cryptocurrencies, Bitcoin rose in the latest trading by 1.14 percent to $69,648.86.

Views 64 03/28/2024 - https://economy-news.net/content.php?id=41946

After It Was 63 Trillion In 2023... The 2024 Budget Deficit Will Rise To 80 Trillion Dinars

Baghdad Today – Baghdad  Today, Wednesday (March 27, 2024), the Minister of Planning, Muhammad Tamim, revealed that the budget deficit has risen to 80 trillion dinars.

A statement from the office of the Chairman of the Finance Committee, received by Baghdad Today, stated that “the committee, headed by Atwan Al-Atwani, hosted today the Deputy Prime Minister and Minister of Planning, Muhammad Tamim, to discuss ways to overcome obstacles to listing and financing projects, and to discuss the reasons for the delay in sending the 2024 budget schedules to the committee.”

Al-Atwani stressed during the meeting that, “The goal of approving the tripartite budget was to give the government flexibility to implement its program.”

He pointed out, “Yesterday, in its meeting with the governors, the committee discussed simplifying the procedures for listing and financing service and strategic projects undertaken by local governments, and therefore today it is reviewing the proposals and proposals of the governors to the Minister of Planning regarding ways to overcome the obstacles to listing and financing projects.”

Al-Atwani asked the Minister of Planning about the reasons for the government’s delay in sending the 2024 budget schedules, and the latter replied, “The government committee responsible for reviewing and auditing those schedules is working to reduce the deficit of 80 trillion dinars because it is considered a large deficit.”

The Chairman of the Parliamentary Finance Committee confirmed, “The committee is looking forward to sending the 2024 budget schedules as quickly as possible, because its continued delay has greater negative repercussions on the financing and implementation of projects, in addition to its impact on the productive sectors.”

Al-Atwani revealed that "the total budget for 2024 amounted to about 228 trillion dinars."

The Minister of Planning said that his ministry relies on an advanced electronic program to fulfill the project listing requirements, and that it has come a long way in terms of simplifying procedures. LINK

Provoking Points To Ponder On Chance and Fortune

I make the most of all that comes, And the least of all that goes. - Sara Teasdale

If you do not expect it, you will not find the unexpected, for it is hard to find and difficult. - Heraclitus

Two roads diverged in a wood and I - I took the one less travelled by, And that has made all the difference.  - Robert Frost

Unless a man has trained himself for his chance, the chance will only make him ridiculous.  - W. Matthews

Chance is always powerful. Let your hook be always cast. In the pool where you least expect it, will be a fish.  - Ovid

Chance is the pseudonym of God when he did not want to sign.  - Anatole France

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

http://famousquotesandauthors.com/quotes_by_topic.html

"Tidbits From TNT" Thursday 3-28-2024

TNT:

CandyKisses:  Al-Yasiri: The US administration is working hard to destroy the Iraqi economy

Information/Baghdad...Political and security analyst Mohammed al-Yasiri on Thursday accused the US administration of continuing its hostile policy to destroy the Iraqi economy.
Al-Yasiri told Al-Maalouma that "the US Treasury Department continues to tighten the noose on the flow of dollars to the Central Bank of Iraq and reduce cash liquidity."

He pointed out that "the US administration is working hard to restrict the Iraqi government and dissuade it from demanding the removal of its occupying forces from the country."

He continued, "The US tightening on Iraq on the dollar clearly confirms the lie of the so-called friendship of the United States of America to Iraq.

"The US Treasury Department imposed economic sanctions on eight Iraqi banks recently, preceded by sanctions on fourteen others, and prevented them from dealing in the dollar currency, as the reasons behind the imposition of such sanctions were not explained.

CandyKisses:  The first day of Eid al-Fitr.. Determining the day of sighting the crescent by astronomical calculations

Baghdad today - follow-up

The 18th day of the holy month of Ramadan has entered today, Thursday (March 28, 2024), with a number of theories circulating about astronomical calculations of the time and date on which the Eid al-Fitr crescent can be seen.

The International Astronomy Center published two maps of the moon's path and the areas where it can be seen, saying in its report, as follows:

The possibility of seeing the crescent of Eid al-Fitr on Tuesday, April 9, 2024

- Visibility of the crescent is impossible from areas in red due to moonset before sunset and/or due to surface conjunction after sunset.

- The crescent is visible using a telescope only from areas located in blue.

- The crescent can be seen using a telescope from the pink-colored areas, and it is possible to see the crescent with the naked eye in the event of complete atmospheric clarity and observation by an experienced observer.

- The crescent is visible with the naked eye from the areas located in the green color.

- The crescent is not visible with the naked eye or by telescope from uncolored areas, although the moon sets after sunset and the surface conjunction occurs before sunset, due to the lack of illumination of the crescent and/or its proximity to the horizon.

- Please note that the figures show that the crescent can be seen in areas between latitudes 60°N and 60°S.

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Tishwash:  Everyone in Iraq wants the Sudanese visit to Washington to be successful, even the factions!

 Once again, Washington is talking about the continued threat of ISIS in the region, days before Muhammad Al-Sudani's expected visit to the White House.

Foreign Minister Fouad Hussein says that the withdrawal of American forces from Iraq “needs time” and “knowing the type of forces.”

No party inside the country objects to these statements, which seem to undermine the main goal of the visit, which is "removing the American forces."

Last Friday, the White House announced that Sudanese's visit to Washington would take place on April 15, a date postponed from last year.

US Secretary of State Anthony Blinken and Fouad Hussein, who preceded the Prime Minister to Washington a few days ago, affirmed their countries' determination to continue the partnership in fighting ISIS.

Blinken said before entering the meeting room at the State Department: “Despite the good work we have done over the years in dealing with this threat, the horrific attack that occurred near Moscow a few days ago reminds us that ISIS is still a force that we must continue to deal with.” with her".

He pointed out that what happened in Moscow is a reminder "that we must continue to deal with ISIS."

For his part, the Iraqi Foreign Minister said, "It is a pleasure to be here and to hold discussions on various topics related to our bilateral relations."

He continued, "We were partners in the fight against ISIS, and we will remain partners in this battle," noting that continuing the fight against terrorism "is our duty, and we have done a wonderful job in defeating the so-called ISIS terrorist state."

According to a US State Department statement, the meeting comes in preparation for the meeting of the Supreme Coordination Committee between Washington and Baghdad, and the expected visit of Prime Minister Muhammad al-Sudani to Washington, where he will meet with US President Joe Biden.

In this regard, Blinken said, “We look forward to Al-Sudani’s visit to see President Biden in a few weeks.”

He added that the Supreme Coordination Committee between the two countries "is an important part of the strategic framework agreement that guides the comprehensive relationship between Iraq and the United States."

He continued, "Our partnership includes many issues that have a direct impact on the lives of Iraqis as well as Americans... everything, from water to energy to the environment to services."

He revealed that the US administration is "very much looking forward" to preparing for that meeting (the coordination committee) as well as dealing with some of the direct challenges facing the two countries.

He said, "For us, Iraq is an important partner for the stability of the region."

Baghdad had announced a few days ago that it would discuss five files in Washington, one of which was the issue of the withdrawal of American forces, which it confirmed was a file that “does not accept maneuvering or courtesy.” In this context, Rahim Al-Aboudi, a member of the Al-Hikmah Movement, told Al-Mada: “Sudani’s visit to Washington is important in the hope that the work of the joint Iraqi-American committees will shift to scheduling the withdrawal and moving to comprehensive, security, and economic relations.”

The two parties engaged in more than one dialogue in Baghdad about assessing the situation in the country, 7 years after Iraq declared “victory over ISIS,” while there is conflicting information about Washington’s approval to withdraw forces.

Foreign Minister Fuad Hussein had said a few days ago in Washington that withdrawing forces from Iraq "needs a period of time and knowledge of how to withdraw and the type of forces withdrawn."

He pointed out that "these questions need answers, and the answers come from both sides, and as a result there will be an agreement between the American and Iraqi sides, and according to the joint agreement, the new policy will be approved."

Analysts at home, such as Ihsan Al-Shammari, head of the Center for Political Thinking, who told Al-Mada, believe that "the United States is not ready now to withdraw forces."

Western reports also indicated that Biden may agree to withdraw "part of the coalition forces, but not the American ones," on the condition of protecting his country's forces in Iraq.

On the other hand, he interpreted the words of the US Ambassador to Iraq, Elena Romanowski, a few days ago about the “danger of ISIS” as a prior refusal to discuss the issue of withdrawing forces.

Romanowski told Reuters, "The work of the US-led military coalition with Iraq to completely defeat the organization is not over yet." The words of Blinken and Romanowski were not commented on by any party in Iraq, and even the factions remained silent.

Abu Ali Al-Askari, spokesman for the Hezbollah Brigades, had warned that not removing the coalition forces from Iraq “will open the door to hell,” but he made a threat days before announcing the date of Al-Sudani’s visit.

It is now believed, according to what is circulating in political circles, that remaining silent on the American positions is because everyone wants the visit to be a success. The government, the coordination framework, and even the factions that do not seem ready to lose new leaders due to American raids.

Rahim Al-Aboudi says: “Strengthening the partnership with the United States will be very important for Iraq, as it will allow American companies to enter the investment market and other companies affiliated with the coalition countries.”

On the other hand, Haider Al-Salami, a member of the Foreign Relations Committee in the House of Representatives, points out that what matters to his committee is that “Iraq returns to being an effective state in the region, and that issues of sovereignty are discussed clearly with Washington.”   link

Mot: Have YOu Ever Seen Easter Biker Chicks???? ...........

Mot: Remember !!! It is Soooo Important to Help the Kids Enjoy Easter!!! ~~~

MilitiaMan: Iraqi Dinar - IQD Update - SWIFT - Purchasing Power - Urban Renaissance - Release Salaries – Budget

Iraqi Dinar - IQD Update - SWIFT - Purchasing Power - Urban Renaissance - Release Salaries – Budget

MilitiaMan and Crew:  3-27-2024

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=--v-uIL4zdM

Iraq Economic News and Points to Ponder Wednesday Evening 3-27-24

Iraq Economic News and Points to Ponder Wednesday Evening 3-27-24

Tlm724 Administrator Bondlady’s Corner

The National Bank Of Iraq Continues Its Digital Transformation By Launching Its New Banking System And Mobile Application

Economy News – Baghdad  Recognizing the importance of technology in enhancing the efficiency of operations and providing exceptional digital banking experiences to customers, the National Bank of Iraq announced its success in launching its new banking system based on the international Temenos company’s systems (Temenos – T24), which is considered the most important banking systems, in addition to launching its developed application on phones. Mobile Banking.

The National Bank of Iraq has begun implementing its operational operations based on its new banking system as of the beginning of this year. This system will contribute to improving the efficiency of operations, which reduces the time and effort expended in completing transactions and enhances their accuracy.

The system allows customers to carry out various banking transactions via... The Internet or through a mobile application, such as transferring money, paying bills, and requesting banking products.

The system will also contribute to enhancing compliance with international standards and the requirements of the Central Bank of Iraq, which enhances transparency and security in banking operations.

On the other hand, the new mobile application, which features an easy-to-use interface, is one of the most important components of the National Bank of Iraq’s digital transformation journey, as it provides customers with a wide range of banking services, such as:

account management in terms of viewing their account balances, transactions, and transferring funds, Paying bills, knowing their loan deductions, in addition to the possibility of linking the account to credit cards, while many services will soon be available, most notably; Opening accounts through the application and the ability to transfer via Western Union, in addition to many various digital services.

This step will consolidate the position of the National Bank of Iraq as a major player in the Iraqi banking sector, thanks to enabling it to provide unprecedented digital banking services and solutions that meet the advanced and growing needs of its individual and corporate clients, of various sectors and sizes, whether large companies or small and medium companies, which gives them added value.

The authorized director of the National Bank of Iraq, Ayman Abu Dhaim, confirmed that this project is consistent with the vision of the Central Bank of Iraq in supporting the banking sector and making it modern and efficient, indicating that the bank’s investment in advanced technology not only ensures compliance with the regulations of the Central Bank of Iraq, but also paves the way for the future.

Innovation and digital excellence.”, pointing to the unprecedented demand for the mobile application, which was downloaded by 40,000 customers in the first two days of its launch.

Abu Dhaim thanked the technical team that implemented the project in record time, and expressed his appreciation to Temenos International, the international supplier.

The T24 core banking system, and ITSS, a leader in the field of information technology, specializes in providing an integrated software package to meet the multiple needs of all types and sizes of companies.

In turn, the Chief Operating Officer of the National Bank of Iraq, Aqeel Ezz Al-Din, pointed out the positive impact of the new system on the bank’s performance, Stressing that the bank is working to keep pace with development and technology and establish new standards in the Iraqi banking market.

The National Bank of Iraq - headquartered in the Iraqi capital, Baghdad - was established in 1995 as a public joint stock company, and in 2005 Capital Bank / Jordan acquired the majority shares in the bank (61.85%), which enabled it to develop its products and services, and strengthen its foothold. Globally, and enhancing financial inclusion at the country level.

Thanks to this acquisition, Capital Bank - which owns a wide network of correspondent banks - provided the National Bank of Iraq with a gateway to global economies, as it facilitated sending and receiving internal and external transfers, granting credit facilities, and providing trade financing services.

The bank can also trade for the benefit of its clients in the Jordanian market and in... Global markets through Capital Investments, the investment arm of Capital Bank.

The National Bank of Iraq - with a capital of 300 billion Iraqi dinars (or the equivalent of 229 million US dollars) - topped the list of banks and banks operating in the Iraqi market at various levels.

 It is considered the best private bank in Iraq in terms of growth (assets, facilities and deposits), and has won multiple international and local awards for its role in supporting and encouraging investment in Iraq, and as the fastest growing in the field of retail trade and localization of salaries for the public and private sectors, and it is the best commercial bank in Iraq.

 It won the Iraqi Stock Exchange Award for its role in supporting and encouraging investment in Iraq 2021. It was also rated by the largest international financial institutions Capital Intelligence (BB) and by Moody's (B3) and rated by the Central Bank of Iraq (very good).

It should be noted that the bank’s total assets approached $2.8 billion, supported by a growth in customer deposits of about 91%, while the bank has a growing customer base that today has reached about 200,000 customers who are served through more than 1,000 employees, 30 branches, and 200 ATMs in all major Iraqi cities. In addition to a branch in the Kingdom of Saudi Arabia.

Views 131 03/27/2024 - https://economy-news.net/content.php?id=41918

Oil Prices Decline As US Crude Inventories Rise

3/27/2024  Mawazine News – Baghdad  Oil prices fell for the second day in a row, on Wednesday, after a report on rising crude inventories in the United States, the world's largest oil consumer, and indications that major producers are unlikely to change production policy at a technical meeting scheduled for next week.

Brent crude futures for May fell 69 cents, or 0.8 percent, to $85.56 a barrel by 01:50 GMT. The May contract is scheduled to expire tomorrow, Thursday, and the most widely traded June contract fell 60 cents, or 0.7 percent, to $85.03.

US West Texas Intermediate crude futures for May delivery fell by 55 cents, or 0.7 percent, to $81.07.

US crude oil inventories rose by 9.3 million barrels in the week ending March 22, according to market sources, citing figures from the American Petroleum Institute on Tuesday. Distillate stocks also increased by 531 thousand barrels.   But gasoline stocks fell by 4.4 million barrels.

https://www.mawazin.net/Details.aspx?jimare=244663

The Foreign Minister Discusses With His American Counterpart Arrangements For The Sudanese Visit To Washington

Foreign Minister Fouad Hussein met with his US counterpart, Anthony Blinken, in Washington.

During the meeting, arrangements were discussed for the visit of Prime Minister Muhammad Shia al-Sudani to Washington during next April, and arrangements for holding a meeting of the Supreme Coordination Committee (HCC) and other committees emanating from the strategic framework agreement were discussed.

The two sides discussed, according to a statement by the Ministry of Foreign Affairs, the overall bilateral relations between the two countries and ways to enhance their areas in light of the strategic framework agreement, the role of the international coalition to fight ISIS, the assessment of the situation in Syria, dealing with Al-Hawl camp, and the importance of continuing the work of the Supreme Military Committee (HMC) with... Emphasizing the importance of joint efforts to combat ISIS and build the capabilities of Iraqi forces.

They also stressed the importance of continuing the dialogue between the federal government and the Kurdistan Regional Government on relevant issues, including budget and economic issues, addressing the issue of the oil export pipeline through Turkey, the importance of implementing the Sinjar Agreement to normalize the situation in the city, and addressing the issues of Yazidis, male and female, kidnapped by the terrorist organization.

The meeting discussed the work of the United Nations Assistance Mission for Iraq (UNAMI) and its vital role in vital files, as well as discussing developments in Iraqi relations with the Gulf states, especially Iraqi-Kuwaiti relations, and the importance of maintaining distinguished relations between the two countries.

The two ministers touched on the partnership between the two countries in the fields of economics, energy, security and combating terrorism, and exchanged views on the most prominent regional issues and crises and the efforts made to ease those tensions. Arrangements for holding a meeting of the Supreme Coordination Committee (HCC) and other committees emanating from the strategic framework agreement were also discussed, and arrangements for the visit of the President of the Republic. The ministers are heading to Washington to meet with US President Joe Biden next April.

Blinken expressed his aspiration for the visit of Prime Minister Muhammad Shiaa Al-Sudani to Washington to meet with President Biden in the coming weeks, and for holding a meeting of the Supreme Coordination Committee, which is an important part of the strategic framework agreement that directs the comprehensive relationship between the two countries, stressing: “Iraq is an important and extremely important partner for the stability of the region.” He

stated: “The terrorist ISIS still poses a real threat,” noting: “The attack that occurred in Moscow a few days ago reminds us that this organization is still a potentially effective force that we must continue to deal with.”   https://www.radionawa.com/all-detail.aspx?jimare=37782

Al-Ziyadi: The “Automation” File Will Support The Government Economically

Iraq  Wednesday, March 27, 2024 6:06 PM Exclusive / National News Center Member of the Parliamentary Investment Committee, Muhammad Al-Zayadi, confirmed today, Wednesday, that the file of automating border crossings will support the government economically.

Al-Ziyadi said in an interview with the National News Center: “The government has resorted to automating the Ports Authority, and we hope to provide all means of success for this project so that it can be implemented on the ground.”

He added, “This file will support the government and the country’s economy and will be a tributary, like oil, and depositing huge funds in the Ministry of Finance in order to support the services government,” indicating that “the success of this project depends on the solidity of the implementation of this file.”

https://nnciraq.com/251694/

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

Goldilocks' Comments and Global Economic News Wednesday 3-27-24

 Goldilocks' Comments and Global Economic News Wednesday 3-27-24 

Good Afternoon Dinar Recaps,

"Since trade values mostly increase when switching from MFN schemes to FTA schemes due to the latter’s lower tariff rates, a depreciation of the domestic currency may increase more than when only considering the above typical effect through relative price changes."

Vietnam is currently working on a couple of finishing touches to the payment side of their new stock market upgrade. They are currently working on trading ratios that allows a Free Trade Agreement based on supply and demand moving forward.

Vietnam does have some banks that are Basel 3 compliant, and more integration inside this upgrade is still taking place. For them to trade on a supply and demand platform, they need to prove that they have enough commodities and services to support this change into a Free Trade Agreement with other countries.

This will greatly enhance their currency's purchasing power, and the demand for it will increase its value. The implementation of this new status of Free Trade Agreements is expected to be implemented on January 1st, 2025. Vietnam News     CEPR

Watch the water.

© Goldilocks

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Most countries around the world are bankrupt or on the verge of being so with no ability to repay their debts. War, inflation, geopolitical issues, debt and more have created price distortions inside our International Financial System.

Part of the process of restoring credit to an individual or countries is to go through a Credit Valuation Adjustment. You are going to hear the term Credit Valuation Adjustment as we get closer to the moment when Nations around the world sign an International Treaty Agreement to make these changes.

This is part of the reason why we have Basel 3 compliance coming into play this year. These new requirements will reveal Financial flaws needing to be adjusted inside the banking system and force mergers needed to successfully put us on a path that is sustainable going forward.  Bank of England
Wikipedia

© Goldilocks
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👇 I will be back a little bit later. I have to check in with a couple of my trading partners. When I return, I will have some banking updates for you. 👇

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MICA Announcement:

Markets in Crypto-Assets (MICA) has finalized their draft. Service providers are concerned about overreach and clarity on some key issues, but the ability to move forward and test the new digital asset-based trading system is possible at this point.   CNN News

© Goldilocks  

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IMF recommends stablecoins and CBDCs to boost Pacific Islands’ economies | Coin Telegraph

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Asia-Pacific Banks Not Feeling the Heat from Final Basel Rules | Hellenic Shipping News Worldwide

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Prices of New Houses -19% from Peak, Lowest since June 2021. Why Sales of New Houses Held Up, while Sales of Existing Houses Plunged | Wolf Street

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The collapse of a major bridge along a crucial trade corridor outside Baltimore idled shipping at one of the East Coast's busiest ports, tied up coal shipments and pushed retailers, truckers and industrial firms to reroute shipping volumes to contain the economic fallout of the catastrophic event.   WSJ

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👆 More on this tomorrow. I want to check in on a few things dealing with how much this will affect our economy because it will.

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James Rickards: Stocks, gold & bitcoin price predictions as Wall St bulls face rising nuclear threat | Youtube

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KTFA Members "Wednesday Iraq News" 3-27-2024

KTFA:

Clare:  The Iraqi government raises the size of the 2024 budget, and Parliament is “surprised”

3/27/2024

The Parliamentary Finance Committee said on Wednesday that the Iraqi government had increased the size of the 2024 budget, noting that it was “surprised” by the decision.

Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, explained to Shafaq News Agency, “The Parliamentary Finance Committee hosted the Minister of Planning to discuss amendments, projects, and the reasons for the delay in sending the general budget law to the House of Representatives.”

He added, "We in the Parliamentary Finance Committee were surprised that the government raised the total amount of the budget law from 199 trillion dinars to 228 trillion dinars in the 2024 budget," explaining that "this increase is large, while what was spent in 2023 amounted to 142 trillion dinars."

He pointed out that "the members of the Finance Committee had an opinion regarding the hosting that the budget should be realistic and not just planning."

Al-Kadhimi pointed out that “raising the total amount in the budget law caused an increase in the deficit rate,” noting that “the budget is currently still in the corridors of the Council of Ministers and is expected to be sent to the House of Representatives next month.”   LINK

Clare:  Al-Sudani announces the movement of nearly 500 stalled projects in Iraq

3/27/2024

Prime Minister Muhammad Shiaa Al-Sudani announced, this Wednesday morning, that his government has begun moving hundreds of stalled projects in various sectors in all governorates of the country.

This came during his pre-dawn inspection tour of the Nisour Square project site, which is one of the projects to relieve traffic congestion west of the capital, Baghdad, accompanied by the Minister of Construction and Housing, and the official of the implementing Chinese Railway Company, according to a statement issued by the Sudanese Media Office.

The Prime Minister expressed his appreciation for the continuation of work 24 hours a day, with three meals a day, in order to speed up completion and bring the project into service.

Al-Sudani stressed, in a speech to the workers, that this project is one of the most accurate and important projects for the movement of citizens in the capital, praising the efforts of the workers on the site and the supporting parties that maintained the work in the spirit of one team.

He stated that the package of projects to relieve traffic congestion will contribute to reducing the waste of citizens’ time, reducing pollution in the capital, and facilitating the flow of traffic, stressing the necessity of maintaining engineering specifications in implementation.

The statement quoted Al-Sudani as saying, “The government is continuing to move the stalled projects in all governorates and all sectors, as more than 490 projects have been moved and returned to work in a record period of time. It is an approach whose results are being followed by citizens who see the seriousness and clarity in it.”   LINK

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Don961:  Welcoming Iraq's accession to membership in the European Bank

Economical  03/26/2024   Baghdad: Hussein Thaghab

Economic and financial experts in the public and private sectors unanimously agreed on the importance of Iraq’s accession to membership in the European Bank for Reconstruction and Development, and that in all cases it represents an important step that enhances its position within the global labor market. This accession comes at a time when the government and the Central Bank of Iraq are working to develop the Iraqi financial sector. And moving it to a better stage, commensurate with its economic weight on the global scene.

Executive Director of the Association of Iraqi Private Banks, Ali Tariq, told “Al-Sabah”: Iraq needs such important steps that strengthen its financial position, at a time when efforts continue in full swing to develop the performance of the national financial sector, and that such partnerships will have a positive impact on National financial sector.

He stressed that the European Bank for Reconstruction and Development is an important financial institution, and that joining in itself is a positive step that complements the development effort that the country seeks, as everyone realizes that Iraq is an important field of work and a destination for many major international companies, which requires us to work to keep pace with global developments in the financial sector.

He pointed out that the efforts of the government and the Central Bank to develop the local financial sector are continuing and at their strongest, and such steps reinforce these trends, as they bring closer distances with important financial institutions.

The Prime Minister's Advisor for Financial Affairs, Dr. Mazhar Muhammad Salih explained the benefits of Iraq joining the European Bank for Reconstruction and Development.

Saleh said to the Iraqi News Agency (INA): “There is a positive syndrome between building the development strategy that is embodied today by the government’s philosophy of launching a development initiative with comprehensive sectoral economic ties, which is called the (Development Road) project, which is the corridor and the strategic project that connects the countries of the European Union.” In Asia through Iraq and the Gulf sea lanes and vice versa on the one hand, and the requirements for implementing the various stages of the development path through the role that Iraq’s membership in the European Bank for Reconstruction and Development occupies on the other hand, especially in the preferences for obtaining European technology and ensuring the role of European Union countries’ companies in implementing the path. Development in all its aspects, whether in infrastructure, industrial production projects, and various logistical services.”

Financial and economic expert Dr. Salwan Al-Nouri described Iraq’s membership in the European Bank for Reconstruction and Development as important and strategic and puts Iraq on safe paths.

He said: Iraq cannot achieve sustainable economic development without the presence of important global partnerships that accelerate the implementation of development plans, by providing supplies that effort cannot provide. Locally, at the same speed as our local effort, which is represented by advanced technology and capital. Al-Nouri pointed out that the global effort can shorten the time and effort in the development process that Iraq seeks, as it has abundant capital and advanced equipment that can be used to serve the national economy, and this is not impossible, pointing out that such important partnerships with institutions have weight. On the global economic arena will enhance national development capabilities.

Economist Ahmed Maklaf said: Iraq’s accession to membership in the European Bank for Reconstruction and Development is a success in itself, as it contributes to changing the global outlook on the Iraqi business arena and moving it to a new stage, especially since many international banks are still afraid of being present in the Iraqi market even though they are... Realizes the importance of Iraq on the global economic scene.

An official pointed out that the concerned authorities in Iraq must work towards building bridges of cooperation with the largest international financial institutions and be present inside Iraq with a weight commensurate with Iraq’s economic size, especially since Iraq represents the focus of important work in the region and the world, and that bilateral partnerships with Iraq are of great benefit to all. the parties.

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Don961:  Fiscal and monetary policies succeed in undermining the parallel dollar

Economical  03/27/2024  Baghdad: Haider Falih Al-Rubaie

The exchange rates of the dollar in the parallel market witnessed a noticeable decline, reaching yesterday, Monday, around 146 thousand dinars per 100 dollars, a number that specialists believe may decline further in the coming periods as a result of the success of the financial and monetary policies, stressing that the superiority of the official market, represented by the platform for selling the dollar. The Central Bank, in meeting the needs of foreign trade, led to a decline in the effects of the parallel market for the green currency, while specialists attributed the reasons for this decline to the introduction of the customs automation program (ASYCUDA).

 According to specialists, this decline constituted a positive factor in controlling the prices of goods and materials in local markets. They expect inflation rates to decline in the coming periods if monetary policy continues to succeed in meeting foreign trade financing.

In an image that confirms the solidarity of the executive and legislative authorities to confront the effects of the parallel market, the Parliamentary Finance Committee hosted earlier the Governor of the Central Bank, Ali Al-Alaq, to ​​discuss a number of important files, most notably the procedures for addressing the large gap in the sale of the dollar between the official price and the parallel market, as well as foreign trade remittances.

Through (the platform).” Al-Alaq indicated during the hosting that there were ongoing meetings with the US Treasury, and it was agreed to reconsider the sanctions imposed on Iraqi banks, and that such decisions should not be issued in the future except after discussing and informing the Central Bank of Iraq, as it concerned with monitoring its activity.

In the midst of this, the financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, believes that “economic policy played a major role in imposing a climate of stability in the general level of dollar exchange rates,” indicating that “the state of superiority of the official exchange market in financing Iraq’s foreign trade caused a decline in the effects of the market.” Parallel and receding Its illegal activities.

Saleh pointed out to the Iraqi News Agency, “INA,” that “the decline in parallel market rates in favor of the official exchange rate is a tangible success in the cohesion of the country’s economic policy in its three aspects: financial, monetary, and commercial,”

Pointing out that “work and high coordination of policies led to providing an incubator of stability embodied in Relative price calm and containing seasonal price fluctuations for high-demand items, specifically providing basic goods related to consumption and daily living for citizens,” noting “the importance of using the customs policy, which was represented by (reducing customs tariffs and diversifying imports without quantitative limits for basic and necessary goods) as part of the performance of the financial policy in providing stability.” price and guarantee the supply of food and essential goods and production supplies at the official exchange rate and in accordance with the requirements of the national economy.”

Confirming the views of the government advisor, the economic expert, Manaf Al-Sayegh, pointed out that “the existence of coordination measures between the financial and monetary policies indicates the presence of a sound reading among the pillars of the Iraqi economy, and that the strategy that was developed to enhance the value of the dinar has begun to bear fruit.”

However, Al-Sayegh, during his talk to “Al-Sabah,” urged the necessity of knowing the real measures that led to the decline in the parallel exchange rate to ensure its sustainability during the coming periods, with the aim of absolutely controlling the green currency and preventing its rise again, stressing that this decline in the exchange rate could achieve a number of economic gains, The most prominent of which is controlling the prices of goods and materials in local markets, and reducing the rise in inflation rates during the coming periods, and therefore this is in the interest of Supporting individual economics.

Al-Sayegh pointed out that the past few days witnessed a clear decline in the demand for the dollar in the parallel market, which led to a decline in its exchange rate, indicating that the decline in demand resulted from meeting the needs of financing foreign trade by the Central Bank, and therefore the dinar can gain a lot during the coming periods if it is filled. Most of the external financing needs of the private sector.

In turn, the specialist in economic affairs, Dr. Ali Daadoush, attributed controlling the exchange rate and reducing it in the parallel market, to the recent measures represented by the introduction of the Customs Data Automation Program (ASYCUDA) system, stressing that this important government measure is an essential part of reducing the rise in the price of the dollar in Parallel market.

Dadoush also believes during his talk to “Al-Sabah” that “this decline will positively affect the level of per capita income, and will also push people who hoard the dollar to give it up and sell it, which could contribute to the continued decline in the exchange rate, indicating at the same time that this decline in the currency Green prices will ultimately lead to a positive effect of controlling the prices of some goods necessary for the individual, while the rest of the goods, especially luxury goods, will remain high as a result of their connection to global prices, which are high mainly as a result of global inflation.   LINK