"Tidbits From TNT" Monday Morning 4-1-2024

TNT:

Tishwash:  Al-Sudani receives an invitation from the Saudi Crown Prince to participate in the World Economic Forum

Media Office of the Prime Minister: Saudi Crown Prince Mohammed bin Salman referred in his message to the Prime Minister to the close relations linking the Kingdom of Saudi Arabia with Iraq and that his participation will have a good impact on the success of the meeting’s work.

 Today, Monday, Iraqi Prime Minister Muhammad Shia al-Sudani received an official invitation from Saudi Crown Prince Mohammed bin Salman to participate in the special meeting of the World Economic Forum, which the Kingdom will host at the end of next April.

This was mentioned in a statement issued by Al-Sudani’s office and received by Shafaq News Agency. 

The statement conveyed that Bin Salman, in a letter he sent to Al-Sudani, referred to the close relations between the Kingdom of Saudi Arabia and Iraq, and that his participation will have a good impact on the success of the meeting’s work.

According to the statement, the special meeting of the World Economic Forum will be held in Riyadh for the period from April 28-29, and will address a number of international topics and issues, and discuss international cooperation in the fields of economics and sustainable development.   link

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Tishwash:  International competition to operate the large Al-Faw port... Transport: We will choose the best

Chinese, Singaporean, and Emirati companies are competing to operate the Al-Faw Grand Port, while the Ministry of Transport will announce during the coming period the company that will become a partner in managing and operating the port.

Director of the Ministry's Media Office, Maitham Al-Safi, said: The Ministry is seeking to contract with international companies specialized in the fields of port management and operation to be accredited as a partner in the management and operation of the Grand Faw Port, as it has received several offers in this regard, and it will announce the name of the operating partner during the next short period.

He added, "The most prominent contenders for managing and operating the port are Chinese, Singaporean, and Emirati companies that have great experience as they manage the most important major ports on the continent of Asia," indicating that "the committees concerned with preparing the requirements for operating the port are working to expedite the preparation of what is required of the companies submitting operating offers through the application." The vision of the government and the Ministry of Transport in establishing strategic projects, the most important of which is this project and making it a global transit station.

Al-Safi noted “the necessity for the company that will be selected to prepare the necessary plans to manage and operate the port based on studying the regional and international maritime transport market and marketing studies and their impact on the optimal choice of management and operation method.”

He explained, "Giving opportunities to invest in Al-Faw Port projects to giant companies that operate within international standards is the most important challenge for the Ministry during the first phase of operating the project, especially as it is prepared to receive reputable international companies that intend to invest in their projects according to future plans and visions that they have set in advance."

He pointed out that “the Ports Administration is working as one team with the Ministry of Transport to achieve the highest levels in implementing port projects that have reached advanced completion rates, whether in the work of the five berths or the highway linking the port and the submerged tunnel in the city of Umm Qasr, or in the container handling station, or in the canal.” Navigationa llink

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CandyKisses: Transportation: We are working to activate mass transportation in the cities of Sadr and Shula

Economy News - Baghdaddad

The General Company for Passenger Transport and delegations in the Ministry of Transport announced on Sunday the start of activating a mass transport line in some areas of Baghdad passing through the center and south of the capital, while confirming that the next phase will include the areas of Sadr City and Shula.

The company's general manager, Karim Kazem Hussein, said in a statement reported by the official news agency, and seen by "Economy News", that "under the guidance of Prime Minister Mohammed Shia Al-Sudani and under the direct supervision of Transport Minister Razzaq Muhaibis, the company began today in the fourth station to activate mass transport in a number of areas of Baghdad."

He added, "This line will start from the Bismayah area towards Jurf al-Naddaf and Diyala Bridge, then the Canal Road, then the Mashtal Intersection towards New Baghdad, and take the Mohammed al-Qasim highway through the Bab al-Sharqi intersection in central Baghdad, as well as the Nahda intersection, then Sheikh Omar and ending with Bab al-Mu'azzam and back again."

"This axis is the fourth out of 72 axes that will be activated successively on all provinces and areas of Baghdad province," he said, noting that "there is a plan to expand also towards other provinces."

"The next phase will be towards the most densely populated areas towards Sadr City and the torch area, as we have a plan in the coming weeks to start these lines," he said

Mot:  Fools Day is Canceled This Year ...................

Mot:  That Time Again !!! .........BEST CLASSROOM APRIL FOOLS PRANK EVER

https://www.youtube.com/watch?v=R9rymEWJX38

Iraq Economic News and Points to Ponder Sunday Evening 3-31-24

Iraq Economic News and Points to Ponder Sunday Evening 3-31-24

Tlm724 Administrator Bondlady’s Corner

Iraq’s Banking System Grows 15.1% In 2023 To $156.7 Billion
 
Iraqi News   March 31, 2024  1460    
The new headquarters of the Central Bank of Iraq in Baghdad. Photo: AFP
 
Baghdad (IraqiNews.com) – By the end of 2023, the total assets of the Iraqi banking system had grown by 15.1% annually to $156.7 billion.
 
This was mostly driven, according to Rabee Securities, by the 15.3% increase in deposits to $101.9 billion.
 
[WAIT! WHAT?

 $101,900,000,000 x 1320 IQD/$ = 134,508,000,000,000 IQD ~ 134.5T IQD
is $101.9 billion meant to be 101.9 billion IQD?
percentage increases are important data, imho]

The largest contributor to overall deposit growth was current deposits, which  increased 17.2% to $82.1 billion and   accounted for 80.5% of all deposits in the banking system.
 
Additionally, the   total deposits of the private sector climbed by 14.7% in 2023 to reach $43.2 billion, while the   deposits of Iraq’s Central Government increased by 22.7% to $36.1 billion and the   deposits of public institutions increased by 6.1% to $22.6 billion.
 
“As a measure to control the FX flow into the banking system, the CBI now allows a limited number of banks to participate in the CBI foreign currency window and engage in USD transactions,” said Aysegul Ozge Ozgur, Head of Research at Rabee Securities
 
“National Bank of Iraq, Bank of Baghdad, and Al-Mansour Bank are among these banks that have been permitted to engage in such activities, thus,
 
they are benefiting from an expanded market share in USD transactions,” added Ozgur.
 
There are 61 commercial banking institutions in Iraq, according to Rabee Securities, made up of 54 private banks (25 non-Islamic and 29 Islamic) and 7 state banks (one Islamic and six non-Islamic).
 
In terms of Return on Average Equity (ROAE) and Return on Average Assets (ROAA), the National Bank of Iraq, Bank of Baghdad, and Al-Mansour Bank are among the most profitable ISX-listed banks.
 
In 2023, their balance sheets and income statements showed remarkable development.   
 
https://www.iraqinews.com/iraq/iraqs-banking-system-grows-15-1-in-2023-to-156-7-billion/   

Infographic: The Central Bank Of Iraq Announces An Increase In The Volume Of Loans And Advances During 2023  

March 31, 2024  The Central Bank of Iraq announced an increase in the volume of loans and advances granted by banks operating in Iraq.

     The Central Bank of Iraq confirmed that the volume of loans and advances granted by banks operating in Iraq amounted to (60.8) trillion dinars, at a rate of (17%) in 2023, after it was (51.9) trillion dinars, at a rate of (12%).) in 2022, while the  loans and advances granted in 2021 amounted to (46.1) trillion dinars, at a rate of (7%).

     The Central Bank of Iraq noted the importance of loans and advances, which are important factors in stimulating the local economy. 

     Central Bank of Iraq    information Office   31 - March – 2024   https://cbi.iq/news/view/2539     

Controls For Licensing Digital Banks In Iraq
 
March 31, 2024   :diamonds: Controls for licensing digital banks in Iraq..For more, click here 
 
https://cbi.iq/static/uploads/up/file-171187147328235.pdf
 
https://cbi.iq/news/view/2538   
 
 [Partial and approximate translation of https://cbi.iq/static/uploads/up/file-171187147328235.pdf] 
 
All approved banks  
M/ Controls for licensing digital banks in Al-Ara 
Based on the decision of the Board of Directors of this bank No. (57) of 1951 and in view of the need for diversification in Providing banking services in light of technological progress that contributes to enhancing financial inclusion through...
To facilitate customers’ access to banking services, we have attached a link (controls for licensing digital banks in Iraq).  with respect.    https://cbi.iq/news/view/2538     

Parliamentary Finance: The Current Year’s Budget Amounted To 228 Trillion Dinars

 The first 04/01/2024    Baghdad: Shaima Rashid   The Parliamentary Finance Committee revealed that the current year’s budget deficit exceeded 20 trillion over the previous year’s budget, indicating that

 it was a planned deficit and not a real one, at a time when it hosted the new governors to learn about their most prominent demands and the problems they suffer from and to discuss other technical matters.

Committee member, Jamal Cougar, said in an interview with “Al-Sabah”:

 The 2024 budget amounts to 228 trillion dinars, with a planned deficit amounting to 84 trillion dinars, noting that salaries, according to the Minister of Planning, will reach 102 trillion dinars, which is a very large amount.  He pointed out that the

 deficit is planned because every year large amounts are added to the operating budget that may not be implemented, and  any reduction in the implementation rate of the budget will be a reduction in the deficit rate, indicating that the  previous budget had a deficit of 64 trillion, meaning an increase of about 20 trillion.

 Koger added that the new governors were hosted in order to know the extent of the implementation of projects in their governorates,

in addition to learning about the most important problems and obstacles they face and talking about the projects, what has been implemented and what has not been implemented, in addition to other matters, including food security.   He pointed out that the

 Minister of Planning was hosted and revealed the details of the projects and their implementation and why some projects had not been referred yet, stressing that the

governors’ requests were mostly service related to the completed projects, and

 they called on the government, through the committee, to disburse the amounts for the completed projects.     https://alsabaah.iq/94419-.html    

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

 Provoking Points To Ponder On Failures and Mistakes

 He is always right who suspects that he makes mistakes.- Spanish proverb

The man who makes no mistakes does not usually make anything.- Bishop WC. Magee

A good marksman may miss.- Thomas Fuller

He that has much to do will do something wrong.- Samuel Johnson

For a just man falleth seven times, and riseth up again.- Bible

To make no mistake is not in the power of man; but from their errors and mistakes the wise and good learn wisdom for the future.- Plutarch

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

http://famousquotesandauthors.com/quotes_by_topic.html 

Goldilocks' Comments and Global Economic News Sunday 3-31-24

Goldilocks' Comments and Global Economic News Sunday 3-31-24

Happy Easter Dinar Recaps,

CHIPS Announcement:

"The Clearing House Interbank Payments System (CHIPS) is the largest private sector USD clearing system for wire transfers. Along with its public sector counterpart, Fedwire, CHIPS forms the primary network for transferring and settling payments in US dollars."

The Clearing House is ready to launch the CHIPS ISO 20022 messaging service for a April 2024 implementation. It just so happens to be taking place as MICA goes through it's regulatory process leading to implementation by May 28th, 2024.

We must not forget that the Depository Trust & Clearing Corporation which is an American Financial Company will be going through this process as well leading up to the May 28th, 2024 deadline.

This will allow our newly formed Global crypto regulatory assets to work with a messaging system to clearly give direction on many of the payments taking place with tokenized assets.

To keep this information protected Project Aurora will be implemented during this time of testing to prevent money laundering.

Early June, the Federal Reserve is expected to lower interest rates igniting a fuel to the fire of these newly formed crypto regulations allowing the new digital economy to get their footing on solid ground.

Gold is beginning to formulate new price patterns as we speak giving our new tokenized assets real values that can be transacted within the new QFS.

New laws and regulations are expected during this time to be placed on these new crypto regulations, and look for the words Project Genesis to also come into play.

Project Genesis will provide liquidity to countries willing to transform their society into clean initiatives. Don't you just love when a plan comes together?  The Clearing House Modern Treasury  Pymnts Itexus

At this point, we will have an operable Quantum Financial System.

© Goldilocks

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I will be spending the rest of my day with my family. I hope you have a Blessed Easter Day.

I will have a meeting with our CBI Banker contact in Iraq who now has ties to the Foreign Remittance Department.

We will be discussing some of the rumors that have been happening over the weekend, but most of our discussions have to do with Tokenized Assets as of late.

© Goldilocks

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Tokenized US Treasury Bonds Hit $1 Billion Milestone on Public Blockchains – Finance Bitcoin News

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In-country Iraq rate change Announcement:

Cost of Living Comparison Between Boston, MA and Baghdad 
You would need around 2,419.3$ (3,165,090.3IQD) in Baghdad to maintain the same standard of life that you can have with 8,300.0$ in Boston, MA (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare the cost of living and assume net earnings (after income tax). You can change the amount in this calculation.

It looks like retail market prices have not changed in Iraq. This is their first business day of their week on Sunday. Follow the link below and you will see...

It only takes a little bit of research to dispel many of the rumors that flow through these rooms as fantasy over fact.   Numbeo 1   Numbeo 2

Truth will set you free.

© Goldilocks

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In my conversation today with our CBI contact in Iraq with new ties to the foreign remittance department, he reminded me to follow the cbi.iq website for rates in country and internationally. No changes. Enjoy your Easter.

© Goldilocks

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Iraq Economic News and Points to Ponder Late Saturday Evening 3-30-24

Iraq Economic News and Points to Ponder Late Saturday Evening 3-30-24

Tlm724 Administrator Bondlady’s Corner

The Dollar Continues To Decline In Parallel Markets

Economy |  03/30/2024   Mawazine News – Baghdad  The prices of the US dollar fell against the dinar in Baghdad, on Saturday, and in Erbil with the stock market closed.

A source told Mawazine News that dollar prices fell with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 147,150 Iraqi dinars against 100 dollars, while this morning it recorded 147,350 Iraqi dinars against 100 dollars.

He pointed out that selling prices in exchange shops in local markets in Baghdad decreased, as the selling price reached 148,250 dinars for 100 dollars, while the purchase price reached 146,250 dinars for 100 dollars.

In Erbil, the dollar also recorded a decline, as the selling price reached 146,800 dinars for every 100 dollars, and the purchasing price was 146,600 dinars for every 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=244885

About 7 Million Barrels Within A Month... Iraq’s Oil Exports To America

Economy  Saturday, March 30, 2024   Baghdad / National News Center  The US Energy Information Administration announced on Saturday that crude oil exports to the United States amounted to more than 115 million barrels during the month of January of this year.

The administration said in a table: Iraq’s exports of oil and its derivatives in January amounted to 6.722 million barrels, 200 thousand barrels lower than what they recorded in December of last year, which amounted to 6.922 million barrels.

She added that Iraq exported about 115.263 million barrels of crude oil and its products to America during the past year.

The US Energy Information Administration stated that OPEC's exports of crude oil and its products to America during January amounted to 34.161 million barrels, with Saudi Arabia having the highest rate of exports to America, reaching 11 million and 981 thousand barrels during the same time period.

https://nnciraq.com/251893/

For The Third Month... Basra Crude Oil Continues To Soar And Achieves Weekly Gains

Economy | 03/30/2024  Mawazine Yunuz – Baghdad  Basra crude achieved weekly gains, with global oil prices recording gains for the third month in a row.

Basra Heavy crude closed, in its last session on Friday, at an increase of 97 cents to reach $83.47, recording weekly gains of $2.07, equivalent to 3.18%.

Basra Intermediate crude also closed in its last session at an increase of 97 cents, reaching $86.30, and also recorded weekly gains of $2, or the equivalent of 2.37%.

Global oil prices witnessed strong increases during recent weekly market transactions, with prices heading for gains for the third month in a row. https://www.mawazin.net/Details.aspx?jimare=244858

Sudanese Advisor: The Budget Tables Focus On Investment Spending For New Projects

Economy | 03/30/2024  Mawazine News – Baghdad  The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Saturday, that the 2024 budget tables focus on investment spending for new projects.

Saleh said in a statement followed by Mawazine News: “The existing procedures for completing the public finance tables for the fiscal year 2024 in order to submit them to the legislative authority for approval and implementation immediately are only a response to the text contained in the Federal General Budget Law No. 13 of 2023 (the tripartite ) Which stipulated the submission of schedules of public expenditures and revenues adapted according to the new fiscal year and its objective circumstances for the year 2024 for legal approval.

He pointed out that "the most important thing in these tables is determining the levels of investment spending on new projects, which is fundamental and fundamental spending in the movement of the national economy, as it is directly linked to the development and growth of the economy by providing objective conditions for the movement of government demand for supplies and inputs for investment in projects."

“The demand for productive factors associated with government investment activity is essential in achieving the targeted level of growth in the annual gross domestic product and sustaining its momentum, in addition to its connection to the labor market and business and moving them in accordance with a climate required by the sustainability of the country’s economic development itself.”

Prime Minister Muhammad Shiaa Al-Sudani earlier confirmed the start of setting 2024 budget schedules.   https://www.mawazin.net/Details.aspx?jimare=244882

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

 Provoking Points To Ponder On Failures and Mistakes

Show me a person who has never made a mistake and Ell show you somebody who has never achieved much.- Joan Collins

He only is exempt from failures who makes no effort.- Richard Whately

Only he who does nothing makes no mistakes.- French proverb

The only man who makes no mistakes is the man who never does anything.- Eleanor Roosevelt

Life is not life unless you make mistakes.- Joan Collins

We all choke, and the man who says he doesn't choke is lying like hell. We all leak oil.- Lee Trevino

He who has never failed somewhere, that man cannot be great.- Herman Melville

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

http://famousquotesandauthors.com/quotes_by_topic.html 

"Tidbits From TNT" Sunday (Easter) Morning 3-31-2024

TNT:

CandyKisses:  Al-Mandalawi congratulates Christians in Iraq and the rest of the world on the occasion of Easter

Baghdad / Nina / Acting Speaker of the House of Representatives Mohsen Al-Mandalawi congratulated on Sunday the people of the Christian religion in Iraq and the rest of the world, on the occasion of Easter (Easter).

Al-Mandalawi said in a post on the "X" platform, "We extend our best blessings to the people of the Christian religion in Iraq and the rest of the world, on the occasion of Easter (Easter), and we commend the role and contributions of the sons of this authentic component with the rest of the components of our dear people in building modern Iraq, and achieving stability and security for our country.

He added: "We affirm that this atmosphere of faith in the holy month of Ramadan, which coincides with the holidays of our Christian brothers, is an opportunity to strengthen the bonds of love, tolerance, peace and coexistence among the sons of Iraq, as well as an opportunity to renounce discrimination, extremism, terrorism and corruption, for a strong and prosperous Iraq."

CandyKisses:  Iraqi provinces that suspended working hours next Monday

A number of Iraqi governorates decided to suspend the official working hours for next Monday (April 1, 2024).

The provinces of Basra, Najaf, Karbala, Diyala, Maysan, Dhi Qar and Wasit, Baghdad governorate departments, announced the suspension of official working hours next Monday, on the anniversary of the martyrdom of Imam Ali (pbuh).

The holiday excluded the security, service and health departments in the aforementioned governorates.

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CandyKisses:  Assurances that the government will proceed to remove US forces from Iraq

Information / Baghdad...MP for the Coordination Framework Mohammed Saadoun confirmed on Sunday the government's determination to end the presence of the international coalition in Iraq and remove the US forces.

Saadoun told Al-Maalouma that "there are indications that Washington is not an object to the departure of its forces from Iraqi territory.""There are assurances from the federal government to remove US troops from Iraq, and they are proceeding with this."

He pointed out that "the government seeks not to limit the relationship to the security field only, but to open up to other areas after the end of the tasks of the international coalition in the country and the removal of foreign forces from Iraqi territory." 

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Tishwash:  Information” opens the files for installing lecturers, the exchange rate, and automation in the 2024 budget

An accelerated movement led by the Parliamentary Finance Committee in order to find objective solutions to many of the problems facing the economy and money in Iraq by pushing the government’s programs for implementation in light of the challenges imposed by the oil markets, which constitute an important criterion in determining the volume of money flowing to the country’s treasury, not to mention the rights of multiple segments awaiting resolution. In the 2024 budget.

The Information Agency interviewed Mudar Al-Karawi, a member of the Parliamentary Finance Committee, to find out the most prominent developments in the economic file in the country and its challenges during 2024.

Q/ When will the 2024 budget schedules reach Parliament and are there any important changes?

A/ We expect the 2024 budget schedules to arrive next week after they are completed by the government committee, after which they will be discussed by the committee, but it is too early to talk about its provisions in detail, but the Ministry of Finance is awaiting approval of the schedules in order to launch financing for all governorate projects according to the instructions.

Q/ Where has the automation file reached in state institutions?

A/ There is remarkable progress in applying automation, especially in the tax and customs departments, not to mention the rest of the other services, because it is a path that will reduce the routine of administrative procedures and close 50% of the doors to corruption, in addition to being an effort to develop non-oil revenues for the Iraqi treasury.

Q/ The 2020 lecturer file in education, will it be decided in the 2024 budget tables?

A/ The Parliamentary Finance Committee gives importance to this file, and we officially asked the Ministry of Finance to include their appointments within the Ministry of Education’s 2024 allocations, and we are awaiting the schedules in order to deal with them according to the procedures.

Q/ Will the exchange rate in the parallel market witness a greater decline in 2024?

C/ The Central Bank and financial measures contributed to stopping the fever of the exchange rate rise in the parallel market and even controlling it at high rates and the gradual decline that occurred, even if it was slow over the last five months, but it was the beginning of pushing it to be close to the exchange rate specified by the Central Bank of Iraq, i.e. The decline will continue

Q: Was the amount of money allocated to provincial projects in 2023 limited?

Q/ It was not limited, but rather it was at a high rate compared to previous years, especially since the total amount allocated amounts to more than 10 trillion dinars, and it covers more than 5 thousand projects in the governorates, but reaching the actual completion requires some time, especially with the procedures and time period to complete the stages. .

Q/ What is Iraq’s 2024 strategy to confront its financial challenges?

 A/ Iraq is still facing a real challenge represented by its dependence on the sale of oil as a primary resource for its treasury at a rate approaching 90% in light of price fluctuations that put the economy in a difficult situation from time to time. Therefore, there is a general trend in maximizing non-oil treasury revenues and establishing a culture of partnership between the two sectors. Public and private, to crystallize a long series of investments that create job opportunities and provide indicators of activity according to the principle of service in exchange for interest.”

Q/ What are the most prominent challenges of investments in Iraq?

 A/ For years, the security factor has been the most prominent challenge to investment and attracting capital, but the situation is currently different with stability and control of the security forces, but the marketing factor remains, creating flexibility in procedures, reassuring investors, and diversifying job opportunities are challenges that must be paid attention to, in addition to the necessity of ending any indicators of corruption that are trying to approach the file. Investing and seeking to reduce procedures in a way that contributes to attracting more money, especially since internal investment rates increased by 35% in the past 16 months.”

Q/ Is Iraq continuing to diversify currency baskets?

C/ A current reality imposed by international conditions on the importance of diversifying the basket of currencies in order to secure import needs from multiple origins and not to limit dealing to one or two currencies. Also, pushing the Iraqi reserve to the principle of diversification is very important, and it is a context that most countries in the world have begun to adopt in recent years.  link

Mot: .. heeee heeeee heeeee 

Mot: .. And Yet another ""Truism"" frum ole ""Mot"" of course! 

Mot: When Easter Eggs Hatch!!!!.............

Mot:  .. Honey!! -- Have You Seen my ~~~~~

MilitiaMan: Iraq Dinar - IQD Update - 36 Million National Cards - Automation - Taif Sami is to Launch Funding

Iraq Dinar - IQD Update - 36 Million National Cards - Automation - Taif Sami is to Launch Funding

MilitiaMan and Crew:  3-30-2024

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=TUaXz6gvjy4

Goldilocks' Comments and Global Economic News Saturday Afternoon 3-30-24

Goldilocks' Comments and Global Economic News Saturday Afternoon 3-30-24

Good Afternoon Dinar Recaps,

Japan has now signaled that officials are on standby to intervene in the market to address the yen.

Gold is at record highs in Japan.

The Bank of Japan has distorted its capital markets, and the world will feel the effects.

Read: https://x.com/goldtelegraph_/status/1773887121268396146?s=46

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The Bank of Japan is in a very difficult position. They hold a lot of US dollars in reserve that could be utilized to prop up their own currency if they were to sell it off. The problem is that a move like this would disturb the balance of trade on a worldwide level. Shifts in the prices of other countries' currency values may start a domino effect.

A stronger Yen would create a lower US Dollar if too many sales of the US dollar were to be put into the market so quickly. Normally, lowering interest rates creates more purchasing power for a country, this is currently not working for their economy. Because of this reason, a currency intervention is being contemplated.

Normal banking protocols are currently not able to pull them out of their situation at this time. They are Basel 3 compliant, and a move towards more reliance on gold as a Currency Reserve may be an option they cannot rule out at this point.

A clear backing and more gold support while selling off the dollar in small increments may be a choice that has validity at this time. Either way, the country needs to increase the value of their currency soon, and choices are becoming very limited quickly.  CNBC  Japan Times  Financial Services Agency

© Goldilocks

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"The State Bank of Vietnam (SBV) has withdrawn nearly VND75 trillion from the banking system over the course of the last five trading sessions."

Moves like this one create a shift in trading imbalances and currency rate exchanges. And, a VND drain makes it difficult for policymakers at the Central Bank of a country be able to control the supply of money.

This will also reduce the ability of their Central Bank to intervene upon their currency. Ten of Vietnam's Commercial Banks are Basel 3 compliant, and gold will become the backing and standard for future interventions creating a more sovereign country.  Vietnam Net   EY

© Goldilocks

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FED LEAK: Massive Storm for GOLD & SILVER - Andy Schectman | Youtube

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Currency risks will drive gold and silver sky-high by year-end – BMO Capital Markets | Kitco

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SGX to disclose trader positions on commodities in Q3 | XM

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Indonesia: Crypto Products Required To Pass On Regulatory Sandbox After New Rule

OJK’s new measure requires Financial Services Institutions (FSIs) to enter new products and services in Indonesia’s regulatory sandbox. According to the reports, the regulation includes banking, insurance, and crypto companies that “are guaranteed to be suitable for use by consumers.”  Bitcoinist

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A MESSAGE FROM SAM OLIVER on the Transition into Gold

"Gold will set you free"

https://t.me/c/1545617426/75865

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A group of professional people posed this question to a group of 4 to 8-year-olds, 'What does love mean?' The answers they got were broader, deeper, and more profound than anyone could have ever imagined!

'When my grandmother got arthritis, she couldn't bend over and paint her toenails anymore... So my grandfather does it for her all the time, even when his hands got arthritis too. That's love.' Rebecca - age 8

'When someone loves you, the way they say your name is different. You just know that your name is safe in their mouth.' Billy - age 4

'Love is when a girl puts on perfume and a boy puts on shaving cologne and they go out and smell each other.' Karl - age 5

'Love is when you go out to eat and give somebody most of your French fries without making them give you any of theirs.' Chrissy - age 6

'Love is what makes you smile when you're tired.' Terri - age 4

'Love is when my mommy makes coffee for my daddy and she takes a sip before giving it to him, to make sure the taste is OK.' Danny - age 8

'Love is what's in the room with you at Christmas if you stop opening presents and just listen.' Bobby - age 7 (Wow!)

'If you want to learn to love better, you should start with a friend who you hate.' Nikka - age 6

(we need a few million more Nikka's on this planet)

'Love is when you tell a guy you like his shirt, then he wears it every day.' Noelle - age 7

'Love is like a little old woman and a little old man who are still friends even after they know each other so well.' Tommy - age 6

'During my piano recital, I was on a stage and I was scared. I looked at all the people watching me and saw my daddy waving and smiling.

He was the only one doing that. I wasn't scared anymore.' Cindy - age 8

'My mommy loves me more than anybody. You don't see anyone else kissing me to sleep at night.' Clare - age 6

'Love is when Mommy gives Daddy the best piece of chicken.' Elaine - age 5

'Love is when Mommy sees Daddy smelly and sweaty and still says he is handsomer than Robert Redford.' Chris - age 7

'Love is when your puppy licks your face even after you left him alone all day.' Mary Ann - age 4

'I know my older sister loves me because she gives me all her old clothes and has to go out and buy new ones.' Lauren - age 4

'When you love somebody, your eyelashes go up and down and little stars come out of you.' (what an image!) Karen - age 7

'Love is when Mommy sees Daddy on the toilet and she doesn't think it's gross...' Mark - age 6

'You really shouldn't say 'I love you' unless you mean it. But if you mean it, you should say it a lot. People forget.' Jessica - age 8

And the final one: The winner was a four-year-old child whose next-door neighbor was an elderly gentleman who had recently lost his wife. Upon seeing the man cry, the little boy went into the old gentleman's yard, climbed onto his lap, and just sat there. When his mother asked what he had said to the neighbor, the little boy said, 'Nothing, I just helped him cry.'

~~~~~~~~~

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CENTRAL BANKS AROUND THE WORLD ANTICIPATING A DOLLAR COLLAPSE ANY DAY NOW

CENTRAL BANKS AROUND THE WORLD ANTICIPATING A DOLLAR COLLAPSE ANY DAY NOW

By Jai Hamid – Crytopolitan.com
March 21, 2024

Central banks globally are hoarding gold, hinting at worries over the US dollar’s stability.

The move is led by BRICS nations, aiming to lessen their reliance on the dollar in international trade.

Gold is being amassed as a strategic asset against potential dollar depreciation and a broader financial shift.

The global stage is brimming with tension, and it’s not the kind that just ends when the credits roll. No, this suspense is way heavier and could hit your wallet like a ton of bricks. 

Central banks all over the world are stockpiling gold like there’s no tomorrow, cementing our expectations that the era of the US dollar’s dominance could be nearing a dramatic climax. I’m talking about its death, guys. Finally.

With the BRICS steadfast on its mission to kill the dollar, financial experts like Peter Schiff are now starting to picture a world where the dollar isn’t needed.

A Golden Hedge Against Dollar Dominance

Let’s dive in. Over the past year, the gold market has become hotter than a summer blockbuster, with countries acquiring it faster than fans at a surprise concert. The motive is a solid backup plan against the powerful dollar’s fluctuations and a strategic move to diversify assets. The heavyweight champion in this gold rush is, of course, China. It’s like they’ve got a golden touch, dominating the scene and subtly hinting at the dollar’s timely curtain call.

The BRICS are all about shaking up the currency mix in international trade, giving more air time to local currencies, and maybe even crafting their very own superstar currency. And gold just happens to be the backbone of their mission to usher us all into a world where the dollar, and by extension America, doesn’t call all the shots.

Peter Schiff reckons that central banks aren’t just picking up gold for its bling. Nope, they’re gearing up for a scenario where the dollar takes a nosedive. Schiff puts it bluntly. The U.S. is blissfully unaware of the incoming storm, with its debt ticking away like a time bomb, while other countries are making moves to shield themselves from the fallout.

The U.S. debt clock is ticking past $34 trillion, a number so high it’s actually unthinkable. Meanwhile, the BRICS are like the cool kids at the party, ditching the dollar in their transactions and betting big on gold. Schiff points out that it’s a savvy play to stay ahead of a dollar decline and the whisperings of a sovereign debt crisis.

The Dollar’s Starring Role in a Shifting Global Economy

Switching gears, let’s talk about the home front. The U.S. economy seems way too confident, unfazed by the de-dollarization plans and its crippling debt. Unemployment claims are doing the limbo, sales of pre-owned homes are bouncing back, and the overall economic vibe is upbeat. On paper at least. The Federal Reserve decided to keep interest rates steady, with hints of future cuts. Powell, quite literally, said, “Crisis? What crisis?”

But the labor market’s resilience has this dynamism that halts plans of easing monetary policy, making it a bit trickier to navigate. Even with some industries experiencing layoffs, the overall data is one of strength and stability, with employers clinging to their workforce like a lifeline. Probably cause they are.

The housing market, beaten by the Fed’s inflation-fighting strategies, is now showing signs of life, offering a glimmer of hope for the spring selling season. Despite a tighter supply and soaring prices pushing some buyers to the sidelines, there’s a [hopeless?] expectation that things could be looking up.

Technically, the U.S. is still outpacing its global counterparts, thanks to all of that. But as the world’s central banks load up on gold and strategize for a zero dollar-dependent future, it’s a reminder that the global economy is far from one-dimensional.

https://dinarchronicles.com/2024/03/29/central-banks-around-the-world-are-anticipating-a-dollar-collapse/

"Tidbits From TNT" Saturday 3-30-2024

TNT:

Tishwash:  Kurdistan retirees rush with "tremendous human momentum" in front of banks to receive their salaries..

This morning, Saturday (March 30, 2024), banks in the governorates of the Kurdistan Region witnessed a huge human momentum by retirees to receive their salaries.

The "Baghdad Today" correspondent said, "The banks of the Kurdistan region witnessed this morning a huge human momentum from retirees to receive their salaries."

Last Thursday, the Ministry of Finance and Economy of the Kurdistan Regional Government announced the employee salary schedule for the month of February. 

According to the schedule published, and seen by “Baghdad Today,” “the distribution of salaries will begin starting on Saturday, as the Ministry of Health, Finance, Interior, retirees, social affairs, and people with special needs will be the first to receive the salary.” 

On Wednesday, the Kurdistan Regional Government announced the distribution of employee salaries for the month of February and the preparations to secure salaries for the coming months.   Link

CandyKisses:  Iraq-Jordan power line to see the light tomorrow, Saturday

Baghdad - Iraq Today:

The Director General of the Jordanian National Electric Power Company Amjad Al-Rawashdeh said that the Jordanian-Iraqi electrical interconnection line will enter service next Saturday.

The Jordan News Agency (Petra) quoted Rawashdeh as saying that the line will be shared between the Jordanian Risha electric stations and the Iraqi Rutba station at a voltage of 132 kilovolts, to feed the loads of the Rutba area near the border with Jordan.

On February 11, 2024, in the capital, Amman, Iraq and Jordan signed a document to provide the Iraqi side with 40 megawatts of electricity in the first phase, as the two parties considered the contract as part of a more comprehensive Arab plan for the Arab common market for energy in the future.

The Iraqi Ministry of Electricity announced the completion of the operation of the Iraqi-Jordanian electric line, stressing that the date of entry of the line into service will be next Saturday, March 30.

She added that the line will be shared between the Jordanian Risha electric stations and the Iraqi Rutba station, and at a voltage of 132 kilovolts to feed the loads of the Rutba area near the border with Jordan.

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

CandyKisses: Among them are the ones related to American sanctions and exchange rates. Government clarifications on many economic files

 Economy News - Baghdad

The technical adviser to Prime Minister Mohamed Shia Al-Sudani, Friday, while explaining that the government is serious about changing and amending the salary scale for state employees, indicating that stopping the Central Bank initiative made investment residential complexes the monopoly of the well-off.

 Mohammed Sahib al-Daraji said in a televised interview followed by "Economy News", that "the visit of the Prime Minister to Washington will be important because America is an important player in the region and these data make the Iraqi government required to deal with the file of the relationship with Washington at the economic and financial level, especially through the control of the US Federal on Iraq's funds from the sale of oil."

 He added, "Sudani's visit is important and there are many files that will be resolved, including the file of money, the presence of US international forces, the file of energy and water and the climate file," considering that "the visit comes to develop a new framework for the relationship."

Al-Daraji explained that "the US sanctions on private banks are not their right, but their control of Iraq's money made them behave in this way."

 He pointed out that "the difference between the exchange rate of the dollar against the dinar will be resolved soon through some of the measures that the government seeks to implement, which limited the exchange rate to 2000 dinars against the dollar," expecting that "the exchange rate stabilizes at 1480 and 1470 dinars against the dollar."

 Al-Daraji pointed out that "Iraq does not suffer from a cash liquidity crisis because Iraq obtains liquidity by selling oil in dollars and selling it inside Iraq and obtaining dinars from the inside and recycling it," noting that "the current crisis is not a liquidity crisis, but the delay in budget schedules is what led to the existence of this crisis, which arises from the cessation of the conversion of dollars into dinars, through intermediary banks."

 He explained that "the recent decisions of the Council of Ministers on raising the price of fuel, improved gasoline and super were part of a package of decisions, the most important of which was to reduce the public debt of the country through the reduction and cancellation of some loans to reduce the public debt to $ 10 billion, meaning that the public debt is less than 10% of GDP, as for the subsidized "gasoline" or other subsidized goods are smuggled continuously, noting that "the target of this decision are high-income people and simple citizens will not be affected by this The decision in addition to seeking self-sufficiency in oil products."

 Al-Daraji pointed out that "the Iraqi family, according to planning, consists of 5.6 people, which means 6 million families, which means cars with the number of families or more, which means the re-imposition of the individual and marital system, and this is unacceptable by citizens, but these decisions with changing the working hours of some ministries to reduce the momentum in the streets."

The adviser to the Prime Minister stressed that "political tensions are what brought Iraq to this stage by reducing the size of the achievements achieved by the government, but the situation now in Iraq has changed because of awareness, which has become a reality that political tensions can not change," noting that "the country did not get anything during the previous periods and lost confidence in democracy, but there are signs of the return of confidence and satisfaction with what will result from the current government."

 In addition, Al-Daraji pointed out that "the monetary mass in Iraq is very high and the Finance Committee should review its information because the financial mass is large and there is no problem in it," explaining that "the monetary mass exists among citizens and trades in the market through the disbursement of the necessary needs of citizens," noting that "Iraq if it sells $ 8 billion and becomes in the Central Bank and what is converted into dollars is equivalent to what the bank sells from the dollar through the platform It is the process of converting dollars into dinars, and it is possible to transfer the surplus to industry and investment in residential complexes to reduce the suffering of citizens."

 Al-Daraji pointed out that "electronic payment enhances the output of the cash mass stored by citizens through sales transactions between citizens, and it is possible to establish holding companies for the participation of citizens, but we need insurance in order for these projects to succeed."

 On the slogan of Made in Iraq, the adviser to the Prime Minister stressed that "this is a national demand for this government, which is very serious to preserve hard currency and develop the Iraqi economy," noting that "the current government announced for the first time that it will guarantee the investor through sovereign guarantee and this is an encouragement for Made in Iraq, which has the raw materials necessary for industries and evidence cement industry, which has succeeded in achieving self-sufficiency in Iraq."

 He pointed out that "America, which numbers 300 million, has 3 million employees, while Iraq has 8 million employees, and this is the result of poor planning, which makes the Iraqi economy restricted," and explained that "the salary scale must be adjusted and the government is serious about changing it to reduce the differences between employees," noting that "changing the salary scale will be by raising the salaries of employees and not reducing some."

"The abolition of military industrialization was a big mistake committed by Bremer and its results were catastrophic for Iraq because the institution was a high-end art institution that was misused by the former regime," al-Daraji said.

 Al-Daraji explained that "the government has supported some industries with sovereign guarantees, including a large glass factory in Najaf, in addition to the establishment of a petrochemical complex in Basra, in addition to the construction industries in Samawa and Diwaniyah, and the government's biggest priority is the localization of the pharmaceutical industry, which costs the country hard currency estimated at $ 6 billion per year," noting that "the establishment of factories needs financing, protection and marketing, and the government helps finance the project and protect it from importer competition in addition to marketing assistance."

Al-Daraji pointed out that "the pharmaceutical industry needs successful commercial advertising that gets rid of the idea that foreign production is better than Iraqi, so we need good marketing and change this idea about the Iraqi product in order for these projects to succeed."

Regarding the new Sadr City, Al-Daraji said, "Work is underway to select designs for the city's infrastructure and select solid Chinese companies to develop this city, which is expected to start work within the next two months," noting that "the government supports the presence of Arab and foreign investors to encourage the provision of service to citizens."

He considered that "stopping the initiative of the Central Bank is a mistake reserved because it made investment complexes the monopoly of the well-to-do," explaining that "Sadr City residential will be available to the poor classes of citizens because of the support of the government," noting that "the government seeks to take out civil government departments to the parties to reduce the population momentum in the center of the capital."

Mot: ..... warning – warning

Mot: ~ Maxine Tip fer Easter ~~~

MilitiaMan: IRAQ DINAR - IQD- DINAR UPDATES - IRAQ STOP THE PLATFORM - STOP AUCTIONS - APRIL 1 - CONFIDENCE

IRAQ DINAR - IQD- DINAR UPDATES - IRAQ STOP THE PLATFORM - STOP AUCTIONS - APRIL 1 - CONFIDENCE

MilitiaMan and Crew:  3-29-2024

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=L-7FEgLPm60

Iraq Economic News and Points to Ponder Friday Evening 3-29-24

Iraq Economic News and Points to Ponder Friday Evening 3-29-24

Tlm724 Administrator Bondlady’s Corner

Submitting Recommendations To The Economic Ministerial Council Regarding Sanctioned Banks

Economy News – Baghdad  The head of the Securities Commission and head of the committee in charge of the sanctioned banks, Faisal Al-Haimas, confirmed today, Friday, the submission of recommendations to the Economic Ministerial Council regarding those banks.

Al-Haims said in a statement to the official agency, followed by Al-Iqtisad News: “Prime Minister Muhammad Shiaa Al-Sudani assigned him to head a committee to look into the sanctioned banks,” noting that “the recommendations were submitted to the Economic Ministerial Council more than three weeks ago.”

He added, "The committee is awaiting the approval of the recommendations by the Ministerial Economic Council," noting that "the committee stressed the necessity of launching development initiatives through government and private private banks to strengthen the Iraqi economy."

He pointed out that "the reasons for the delay in announcing the recommendations by the Council of Ministers are the existence of procedures and discussions between the Ministerial Economic Council and the Central Bank and other procedures."

Views 101 03/29/2024 - https://economy-news.net/content.php?id=41991

Oil Continues To Achieve Gains For The Third Month In A Row

Economy  Friday, March 29, 2024 Follow-up/National News Center  Oil prices jumped more than a dollar amid expectations of tight supply due to the possibility of the OPEC+ alliance maintaining its current production cut, ongoing attacks on energy infrastructure in Russia, and a shrinking number of American oil exploration platforms.

On Thursday (March 28, 2024), Brent crude futures contracts for May delivery rose $1.39, or 1.6%, to reach $87.48 per barrel upon settlement, while the most widely traded June futures contracts rose $1.58 to reach $87 per barrel upon settlement.

As for US West Texas Intermediate crude futures for May delivery, they rose $1.82, or 2.2%, to record $83.17 per barrel upon settlement.

Brent crude recorded a weekly increase of 2.4%, while West Texas Intermediate crude recorded a weekly increase of approximately 3.2%. Both crudes achieved gains for the third month in a row.

Last session, oil prices came under pressure after US crude oil and gasoline inventories rose unexpectedly last week, driven by higher crude imports and slower gasoline demand, according to Energy Information Administration data.

However, the increase in crude oil inventories was less than the American Petroleum Institute had expected, and analysts noted that the increase was less than expected for this time of year, according to Reuters.

Prices also received support from US refinery operating rates, which rose 0.9 percentage points last week.

The number of oil and gas exploration rigs, an early indicator of future supply volume, shrank by three rigs to 621 in the week ending March 28, according to data from energy services company Baker Hughes.

Investors will await indicators from next week's meeting of the Joint Ministerial Committee for Production Monitoring of the Organization of the Petroleum Exporting Countries (OPEC).

Growing geopolitical risks have raised expectations of potential supply disruption, but the OPEC+ alliance is unlikely to make any changes to oil production policy until the full ministerial meeting in June.

https://nnciraq.com/251804/

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

 Provoking Points To Ponder On Failures and Mistakes

Be aware that young people have to be able to make their own mistakes and that times change.- Gina Shapira

The best brewer sometimes makes bad beer.- German proverb

We must somehow get comfortable with the reality of periodic failure. ... Like a trip to the dentist, the thought of occasional reverses may not make us tingle with joyful anticipation, but then again, it's not the end of the world.- Sam Collins

The progress of rivers to the ocean is not so rapid as that of man to error.- Voltaire

All men are liable to error; and most men are ... by passion or interest, under temptation to it.- John Locke

To err is human, to forgive divine.- Alexander Pope

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

http://famousquotesandauthors.com/quotes_by_topic.html