“Tidbits From TNT” Thursday 5-23-2024

TNT:

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

HappyWelshGuy:  RV Update - The Truth

Tony, is quite correct the RV will happen soon.......But not yet

This is what is really happening...

There is a carefully, orchestrated plan in effect, that is being meticulously monitored

Tier # 1 and Tier # 2 is currently being financially hydrated

When this is completed to the satisfaction of the Alliance then and only then will Tier # 3 be financially hydrated

When this is completed to the satisfaction of the Alliance then and only then will Tier # 4 (US) the internet group be financially hydrated

Everything is currently "On Track" and moving to expectation

If everything continues to expectation, then Tier # 4 should be financially on or about JUNE 15th with a back wall of July 4th

It is "NOT" going to happen today, tomorrow or this month

However, Tony is right

It will be our time soon

Nothing will stop this except for a 911 type event

Remain positive and in anticipation

My source actually sits on a special committee formatted for the very specific purpose of the timing of the revaluation to take place

June 15th, is not that far away so remain patient and be in expectation

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Fuze:  Don't get me wrong, it is possible this could extend to early June but the point is, it's suspicious for the reasons stated in this widely distributed all of a sudden mysterious source. There is legitimate Intel from literally the horses mouth that June was a best Target month of Dr. Shabibi (bless his sole) why?

Because he said " the "project to delete the zeros with the rate change should be done at the beginning or middle of Iraqs fiscal year" FOR ACCOUNTING purposes!

June is the middle of their fiscal year at present. In addition, one time in the past when the project was postponed in 2012 it was earmarked to go June 2013 according to a declassified MOF document and US Congressional Report.

These are well documented facts in video format and documents from non Maliki, non social media credible sources!!! So early to mid June would not be a surprise,

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Tishwash:  Economist: We are experiencing a good financial year and the rise in salary expenses must be reconsidered

The economic expert, Safwan Qusay, considered Iraq’s fiscal year “good,” while stressing the need to reconsider the rise in salary expenses.

Qusay said, during his hosting of the program {Free Speech} broadcast by Al-Furat satellite channel this evening, that: “

The process of implementing the program of the government of Muhammad Shiaa Al-Sudani requires {operational and investment} spending, and there are priorities voted on by Parliament, and it is held accountable for achieving these goals, so the process of allocating financial allocations To achieve these goals, it requires scientific foundations and program costs. So far, the issue is items, not programs, costs, accounting, and the establishment of a unified treasury in order not to wait for schedules, and in order for it not to be repeated in 2025.

The government is required to set estimates by establishing a unified treasury and spending and collection units on a daily basis
Parliament is one case, as they both seek to achieve their goals.

- We are facing a good year, considering that oil prices are above $70, and zero oil and other imports will contribute to reducing expenses and increasing revenues.

- The government is seeking to establish investment projects parallel to oil revenues, and the increase in salary spending needs to be restored Consider

-The timetable determines the mechanism for disbursing expenditures as it tries to move from items to programs -
Government achievements for the year 2024 can raise cash revenues

- Federal ministries must be coherent and complementary to one another, as increasing non-oil revenues enhances the value of the dinar. Iraqi, and the need to reconsider the nature of contracts with foreign companies.

-International prices change, so if the financial foundations are understood by the government, it can certainly change them.

The Ministry of Finance is required to assume that the project that it cannot finance is a source of income that is subject to investment.  link

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CandyKisses:  Sudanese arrives in Najaf to open projects

Iraqi Prime Minister Mohammed Shia al-Sudani arrived on Tuesday morning in Najaf province.

According to his media office, the visit is part of a series of field visits to the governorates.

In a subsequent statement, his office indicated that al-Sudani had launched the executive work on the upper threshold garage project, which is multi-layered (Najaf Grand Garage) in the center of the city.

Al-Sudani also launched the work of the tablet glass production project in Najaf Industrial City, the first project of the sovereign guarantees initiative for the private sector, with a production capacity of 800 tons per day.

Al-Sudani also launched the executive works in urban development projects for the southwestern side of the Haidari courtyard, during his visit to the city of Najaf.

Al-Sudani stressed that the visit to Najaf comes within the periodic visits to all our governorates to follow up on the progress of services and implement priorities in infrastructure projects and economic development, in addition to the province's privacy that necessitates attention and dedication to it.

The Prime Minister indicated that infrastructure projects have a great deal of attention, and there will be follow-up by specialized teams present in the governorate for the purpose of overcoming obstacles, noting the development of additional financial allocations to the governorate, and that there is a follow-up to the lagging projects that are being completed, as the focus is on infrastructure and service projects, because they are the basis of any development process.

He explained that the multi-storey garage project comes in line with the government's vision to alleviate urban problems in the center of Najaf, including improving infrastructure, using renewable energy, sustainability of the green environment, and facilitating and streamlining the movement of visitors and serving them.

Al-Sudani announced the approval of a package of important projects related to the threshold, which were included in the 2024 budget tables, namely:

- The project of expropriating buildings located on the southern side of the Holy Shrine, at a cost of 65 billion.

- The project of Al-Afaf Women's Hospital, at a cost of 10.312 billion.

- Carpet washing project for the Haidari plate, at a cost of 3.406 billion.

- A project of acquisitions for the development of the southern side of the Haidari courtyard, at a cost of 75 billion.

- The project of constructing the tunnel of the Prophet (PBUH) 12 billion.

- Tusi tunnel project, farewell square, at a cost of 16.4 billion.

- Adaptation of the Haram and Abu Talib Gallery, at a cost of 11 billion.

- Equipping Al-Afaf Hospital, at a cost of 11 billion.

It is noteworthy that the multi-storey garage project (Najaf Grand Garage) consists of eight floors and a capacity of 2,500 wheels, and includes 4 parts, and the standard of preserving the architectural identity of the city of Najaf was adopted, as it includes a tunnel linking the new Hajjah Street and the Haidari courtyard, in addition to tourist and recreational facilities.

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CandyKisses: :  Within the 2024 budget. Sudani announces a package of projects for the upper threshold

Baghdad Today - Baghdad

Prime Minister Mohamed Shia Al-Sudani announced on Thursday (May 23, 2024) the launch of executive works in urban development projects for the southwestern side of the Haidari Sahn.

The Sudanese Media Office said in a statement received by "Baghdad Today", that "Prime Minister Mohammed Shia Al-Sudani, launched the executive work in urban development projects for the southwestern side of the Haidari Al-Sharif courtyard, during his visit to the city of Najaf, which he arrived on Thursday morning."

According to the statement, Al-Sudani stressed that "the visit to Najaf within the periodic visits to all our provinces, to follow up on the progress of services and implement priorities in infrastructure projects and economic development, in addition to the province's privacy that necessitates attention and dedication to it."

The Prime Minister indicated that "infrastructure projects have a great deal of attention, and there will be follow-up by specialized teams present in the province for the purpose of overcoming obstacles," noting that "additional financial allocations are being made to the governorate, And that there is a follow-up to the lagging projects that are being completed, as the focus is on infrastructure and service projects, because they are the basis of any development process."

He explained that "the (multi-layered garage) project comes in line with the government's vision to alleviate urban problems in the city center of Najaf, including improving infrastructure, using renewable energy and sustainability for the green environment, and facilitating and streamlining the movement of visitors and serving them."

According to the statement, Al-Sudani announced "the approval of a package of important projects for the shrine, which were included in the 2024 budget tables, namely:
- The project of expropriating buildings located on the southern side of the upper holy shrine, at a cost of 65 billion.
- The project of the Afaf Women's Hospital, at a cost of 10.312 billion.

- Carpet washing project for the Haidari plate, at a cost of 3.406 billion.
- A project of acquisitions for the development of the southern side of the Haidari courtyard, at a cost of 75 billion.
- The project of constructing the tunnel of the Prophet (PBUH) at a cost of 12 billion.

- Tusi tunnel project, farewell square, at a cost of 16.4 billion.
- Adaptation of the Haram and Abu Talib Gallery, at a cost of 11 billion.
- Equipping Al-Afaf Hospital, at a cost of 11 billion.

It is noteworthy that the multi-storey garage project (Najaf Grand Garage) consists of eight floors with a capacity of 2,500 wheels, and includes 4 parts, in which the standard of preserving the architectural identity of the city of Najaf was adopted, as it It includes a tunnel linking the new Hajjah (Aj) Street and the Haidari courtyard, in addition to tourist and recreational facilities.

Mot: More Truisms from Earl and Opal

MilitiaMan: Iraq Dinar - IQD Related Update - Global Interconnectivity - Timing - Delete Zero's - Exchange Rate

Iraq Dinar - IQD Related Update - Global Interconnectivity - Timing - Delete Zero's - Exchange Rate

MilitiaMan and Crew:  5-23-2024

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=jhEBo8tSOGQ

Iraq Economic News and Points To Ponder Late Wednesday Evening 5-22-24

Iraq Economic News and Points To Ponder Late Wednesday Evening 5-22-24

The Central Bank Announces Approved Dollar Sales Outlets For Pilgrims

Economy News _ Baghdad   Today, Wednesday, the Central Bank of Iraq announced outlets for selling dollars to pilgrims.

The bank said in a statement received by Al-Iqtisad News, “The outlets for selling the dollar to pilgrims are in the branches of Al-Rashid, Al-Rafidain, Al-Iraqi Trade, and Al-Nasik banks, in addition to a number of money exchangers in Baghdad and a number of governorates.” Views 85 05/22/2024 - https://economy-news.net/content.php?id=43639

What Are The Reasons For The World Bank’s Demand To Reform The Retirement System In Iraq?.. Economic Clarification

Posted On05-22-2024 By Sotaliraq   Economist Nabil Al-Marsoumi explained the reasons for the World Bank's demand to reform the retirement system in Iraq.

Al-Marsoumi said in a blog post, “According to data from the General Retirement Directorate, the total number of civilian and military retirees in Iraq in 2020 reached 2.486 million retirees, while the number of retirees who receive their salaries from the retirement fund reached 544 thousand retirees.”

He pointed out that “the budget bears the disbursement of the salaries of 1.942 million retirees,” noting that “the total value of the monthly salaries of retirees amounts to 1.551 trillion dinars, and the annual value is 18.612 trillion dinars.”

He stated that “the total annual pension salaries borne by the general budget are 11.772 trillion dinars in 2020, while 6.840 trillion dinars are paid from the retirement fund.”

He stressed that “today’s numbers have risen a lot, especially since 120,000 employees annually are referred to retirement after reducing the retirement age to 60 years,” noting that “retirement referrals before 1/1/2008 are all paid from the public treasury according to the laws of transitional justice, political dismissals, and all others.”

 Laws legislated by the House of Representatives. As for those referred to retirement after 1/1/2008, their salaries are paid from the Retirement Fund, while retirement rewards are paid from the state treasury.”

He continued, “The government depends, in its financing of pensioners’ salaries and all other forms of social protection programs, on financial resources financed by oil revenues, which exposes it to delaying or even to the risk of stopping due to the fluctuation of these revenues, especially linked to highly volatile global oil prices, due to external rather than internal factors on the one hand, and low efficiency in Managing the funds of the pension fund, which lacks transparency in disclosing its assets and aspects of its investments, on the other hand.”  LINK

 Referring The 2024 Budget Tables To Parliamentary Finance

Money  and business  Economy News – Baghdad  Today, Wednesday, the House of Representatives announced the referral of the schedules of the Federal General Budget Law 2024 to the Parliamentary Finance Committee.

According to a document issued by the Council, seen by Al-Iqtisad News, “Acting Speaker of the House of Representatives Mohs Al-Mandalawi referred the schedules of the Federal General Budget Law 2024 to the Parliamentary Finance Committee.”  - https://economy-news.net/content.php?id=43645

Raq Intends To Deliver The Capacity Of The Northern Refineries To 600 Thousand Barrels Per Day

Reconstruction and building  Economy News – Baghdad  The Northern Refineries Company, affiliated with the Ministry of Oil, announced today, Wednesday, the total refining capacity of the Northern refineries, while indicating the continued development of the refineries and raising them to the ranks of international companies.

The director of the project management department at the company, Ata Aliwi Hussein Al-Hamdani, said: “The Northern Refineries Company is witnessing a major renaissance and development that will place it among the major refinery companies in the Middle East, as the cadres of the Project Management Department, the Maintenance Authority, and the company’s supporting departments have begun establishing Refining Unit 3 at the Salah al-Din Refinery.”

To be the nucleus of the Salah al-Din Refinery 3, which will be added to the company’s refinery complex with a capacity of 70,000 barrels per day,” indicating that “a new refining capacity will be added to the current basic refining capacities existing in the company.”

Al-Hamdani added, “Salah al-Din Refinery 1 will have a refining capacity of 70,000 barrels per day, Salah al-Din Refinery 2 will have a refining capacity of 70,000 barrels per day, while the North Refinery will have a capacity of 150,000 barrels per day, and the small refining units 2 and 3 in the North Refinery will have a capacity of 20.” One thousand barrels per day. It is hoped that these units will enter into trial operation this year. The Salah al-Din 3 refinery will have a capacity of 70 thousand barrels per day. It is hoped that the refining unit will be completed within one year.

Thus, the total capacity of the Al-Samoud Refinery Complex during the coming year will be approximately 380 thousand barrels per day. "

He continued: “As for the company’s external refineries, the Project Management Department, under the guidance of the Director General of the Northern Refineries Company, continues to implement the company’s plan to raise refining capacities during the current and next years.”

He explained, "The current capacity of the Kirkuk refinery is 56 thousand barrels, and after the completion of concentration unit 109, it will be 76 thousand barrels per day, while the current capacity of the Siniya refinery is 30 thousand barrels per day, and after the completion of the two new units, the refining capacity will be 50 thousand barrels per day, and the current capacity of the Haditha refinery is It reaches 16 thousand barrels,

and after completing the two new units, the refining capacity will be 36 thousand barrels per day, and the Kasak refinery has a current capacity of 20 thousand barrels per day, and after completing the new unit, the refining capacity will be 30 thousand barrels per day.

As for the Qayyarah refinery, the available refining capacity will reach approximately 12 thousand barrels per day. After completing the new unit, the refining capacity will be 32 thousand barrels per day,” noting that “the refining capacity of the current and added external refineries will be 204 thousand barrels per day.”

He pointed out that “the total refining capacity of the current and added North Refineries Company will be 584 thousand barrels per day, which is an unprecedented refining capacity in the field of the refinery sector, with the addition of complementary units such as hydrogenation, isomerization and improvement of gasoline units, energy units, technical services, pumping and storage units, industrial water transactions, and others, with modernization projects.” Units, infrastructure, residential complexes, investment units and refineries.”

He stated that “the Northern Refineries Company has also begun preparing the requirements for establishing the FCC unit, which is a unit consisting of four basic units to maximize the production of improved gasoline and intermediate distillates. This unit works on the fuel oil or black oil remaining in the refining tower produced by the company’s refineries,”

pointing out that we We seek to implement all plans and programs to raise refining capacities, modernize and develop the company’s refineries, and elevate it to the ranks of major international companies in the refinery sector in Iraq and the Middle East.”   242 views 05/22/2024 - https://economy-news.net/content.php?id=43641

Oil Prices Decline Amid Expectations That Interest Rates Will Remain High For A Longer Period

Wednesday 22, May 2024 08:08 | Economical Number of readings: 140  Baghdad / NINA / Oil prices fell for the third session in a row today, Wednesday, amid expectations that the Federal Reserve (the US central bank) will keep interest rates high for a longer period due to continued inflation, which may affect fuel use in the world’s largest oil consumer.

Brent crude futures fell 43 cents, or 0.5%, to $82.45 per barrel, and US West Texas Intermediate crude futures fell 50 cents, or 0.6%, to $78.16.

US Central Bank officials said yesterday, Tuesday, that the bank must wait several more months to ensure that inflation actually returns to the target path of 2% before any interest rate cuts.

Oil prices fell yesterday, Tuesday, as investors expected that inflation and continued interest hikes in the United States would lead to a decline in consumer and industrial demand.

Yesterday, Tuesday, Brent crude futures contracts fell by 46 cents, equivalent to 0.55%, to $83.25 per barrel by 07:28 GMT.

US West Texas Intermediate crude fell 55 cents, or 0.69%, to $79.25 a barrel. Both benchmarks fell less than 1% on Monday after US Federal Reserve (central bank) officials said they were waiting for more signs of slowing inflation before considering lowering interest rates./Ends 9

https://ninanews.com/Website/News/Details?key=1128035

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

Provoking Thoughts and Points to Ponder on Money

Inflation is determined by money supply growth.  - Roger Bootle

Laws go where dollars please.  - Portuguese proverb

Money can't buy friends, but you can get a better class of enemy.  - Spike Milligan

Money is not an aphrodisiac: the desire it may kindle in a female eye is more for the cash than the carrier.  - Marya Marines

Money is the fruit of evil as often as the root of it.  - Henry Fielding

Money, like a queen, gives rank and beauty .  - Latin proverb

http://www.famousquotesandauthors.com/topics/money_quotes.html

http://www.famousquotesandauthors.com/

Goldilocks' Comments and Global Economic News Wednesday Evening 5-22-24

Goldilocks' Comments and Global Economic News Wednesday Evening 5-22-24

Good Evening Dinar Recaps,

"Ripple CLO Claims The SEC Has a NODE on the XRP Ledger"

A NODE offers ways to approve and process transactions without a centralized authority. 

A node validates and authenticates blockchain transactions. A Blockchain node's primary job is to confirm the legality of network transactions.

Once a confirmation is made between two digital networks through a blockchain consensus, a transaction is validated on both sides of an exchange.

A protocol brings all nodes of a distributed blockchain network into agreement on a single data set or similar data confirming the right to move forward inside a blockchain connection. Then, a digital transaction can go through for both parties.

This is done electronically and without the need of someone mediating the transaction on the QFS.

It looks like XRP and the SEC have decided to play ball together. Times Tabloid  Trade Marks   Ledger

© Goldilocks

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Okay. It is official. Ripple and the SEC are doing more than playing ball together. They are in business together.

"Ripple has filed a new trademark for the phrase “RLUSD,” suggesting the likely listing symbol for its proposed dollar-based stablecoin."   Trade Mark 

A trademark does three things:
* It identifies the source of your product
* It provides legal protection for your brand name and product
* It protects you against counterfeiting and fraud

This officially ties the SEC and Ripple together in a partnership. This new filing has given them intellectual property rights to copy and expand in a business together.

This love/hate relationship has certainly turned a corner. As the pages are turned on their past relationship in courts, it will certainly be interesting to read the next chapters of what they can do together.     The Crypto Basic    Maynardnexsen

© Goldilocks

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Do you see why the XRP and SEC connection is so important? Yes, Ripple is ISO compliant. Now that changes things a little bit... 😉

© Goldilocks

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ISO 20022 Crypto: Which Coins & Tokens are Compliant? - CoinCheckup

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Iraq clears all debts to IMF | Iraqi News

Baghdad (IraqiNews.com) – The financial advisor to the Iraqi Prime Minister, Mazhar Salih, confirmed recently that Iraq has repaid all the loans it has taken from the International Monetary Fund (IMF) since 2003, a total of just under $8 billion.

Salih explained that the IMF provided several loans to Iraq, aiming to support macroeconomic stability and financial reforms, the Iraqi News Agency (INA) reported.

Between 2003 and 2021, Iraq obtained several financing programs from the IMF, including emergency loans and long-term financial assistance.

In 2016, the IMF approved a financial program worth $5.34 billion to support economic reforms in Iraq. Within five years, Iraq paid out the loan in full after obtaining two-thirds of the total.

Iraq sought a $6 billion emergency loan from the IMF in 2021; however, the loan was not granted because, at the time, it hadn’t been linked to any of the IMF’s initiatives.

Iraq’s engagement with the IMF was intended to assist in addressing the economic issues brought on by the drop in oil prices, which were connected to fluctuations in the balance of payments, as well as to promote government reforms.

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The People’s Bank of China (PBOC) and the Bank of Thailand signed a memorandum of understanding (MOU) on Tuesday to enhance cooperation in facilitating bilateral transactions using local currencies. |  Modern Diplomacy

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The American Bankers Association urged House leaders to back a bill that would stop the Federal Reserve from creating a CBDC for individuals. |  Crypto News

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"Ripple believes in CBDCs seeing them as crucial for asset tokenization!"

Is Ripple about to be the CBDC alternative? Is Ripple quickly becoming the new CBDC? Will Ripple replace the dollar?

The answer to these questions are simply put, not likely. Yet, Ripple is what is going to move CBDCs and all assets inside the new digital economy.

Ripple respects your privacy and intends to keep your information secure. (See article below) Ripple will be the settlement token that will move your money.

This is the most likely scenario that will be seen going forward. It is an alternative option that may very well be what will take place.

Life is a Quantum Soup and the taste of the final product is and will be determined by the ingredients that make it up.   Rich Turrin Substack   Ripple Energy

© Goldilocks

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👆Ripple is at the forefront of the CBDC revolution, engaging with governments globally to leverage its technology for digital currency development. In May 2023, Ripple launched a dedicated platform to assist central banks, governments, and financial institutions in issuing CBDCs and stablecoins.   2 days ago | Forbes

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3 Unconventional Trends Reshaping The Business Landscape | Forbes

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Todays House Bill removes the @SECGov entirely from crypto.

Puts all power in the hand of the Secretary of the Department of Commerce.  Twitter  Congress

Since 2021 this was Gina M. Raimondo. @SecRaimondo

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Banking Announcement:

Spot Ethereum ETF approved. Ethereum is a smart contract. Here's what it does. ETHV is currently listed on DTCC.

The DTCC is the Depository Trust & Clearing Corporation. The DTCC clears and settles virtually all broker-to-broker equity markets. Yes, Forex is an equity Market.

"A smart contract is a computer program or a transaction protocol () that is intended to automatically execute, control or document events and actions according to the terms of a contract () or an agreement."

It ensures that both sides of a trade can be securely executed with enough funds to ensure all requirements are fulfilled.   Reuters   TheBlock

© Goldilocks
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Swift Unveils New Cross-Border Payment Tracking Solution | PYMNTS

Swift Announcement:

Swift is extending ISO 20022 across the entire payment chain. 👇

"Swift has unveiled new ways for financial institutions to streamline cross-border payments for corporate customers.

The financial messaging service said it is doing this “by extending ISO 20022 across the entire payment chain and giving banks ready-to-use, white-labeled tracking services that can be activated for customers at the click of a button,” per a Tuesday (May 21) news release.

Swift plans to allow financial institutions (FIs) to capture rich data at its source by standardizing payments end-to-end with ISO 20022, according to the release.

In addition, Swift says it will also help banks offer customers payment tracking services by API or messaging channel, for complete transparency on the status of a payment as well as confirmation that it has been received."

So now, we have access to the ISO 20022 messaging system.

* Goldilocks

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What a month to remember...

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Expanding the cross-boundary e-CNY | Hong Kong Monetary Authority

The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBoC) have made further progress in the e-CNY pilot for cross-boundary payments, to expand the scope of e-CNY pilot in Hong Kong to facilitate the setup and the use of e-CNY wallets by Hong Kong residents, as well as the top-up of e-CNY wallets through the Faster Payment System (FPS).   

The interoperability between the FPS and the e-CNY system operated by the Digital Currency Institute (DCI) of the PBoC also marks the first linkage of a faster payment system with a central bank digital currency system in the world.  It provides an innovative use case which underscores interoperability, a key area set out in the G20 Roadmap for enhancing cross-border payments.

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AI Is Taking Over Accounting Jobs As People Leave The Profession | Forbes

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Asia Pacific Outshines Globally in Instant Payments Adoption - Blockchain News

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Swift standardizes payments end-to-end and gives banks ready-to-use tracking services to enhance corporate  | Swift

👆 this is going to change ISO20222 timelines a bit...😄

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Brussels, 21 May 2024 - Swift has today set out plans to help financial institutions streamline the cross-border payments experience for their corporate customers, by extending ISO 20022 across the entire payment chain and giving banks ready-to-use, white-labelled tracking services that can be activated for customers ...1 day ago | Swift

👆 I will say more on this tomorrow. This changes the game quite a bit my friends.

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VanEck's Ethereum ETF listed on DTCC ahead of SEC decision | ReadWrite

VanEck's spot Ethereum ETF listed on DTCC platform under "ETHV" ticker, awaiting SEC approval to become active. 

SEC officials in contact with major exchanges to update and modify existing spot Ether ETF applications.

Crypto community divided as May 23 deadline for SEC's decision on VanEck's ETF application approaches.

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A smart contract can execute an FX swap contract by locking the agreed rates and amounts on the blockchain, and transferring the funds automatically on the specified dates. This can reduce the need for intermediaries, such as banks or brokers, and lower the transaction fees and settlement time. | Linkedin

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This Is Serious  BRICS Nations Have Officially Set A Date To Ditch The US Dollar. | Twitter

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Ripple Vs. SEC Lawsuit: Latest Filing Marks Beginning Of The End Of Historic Battle | Bitcoinist

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IF THIS HAPPENS - CRYPTO WILL EXPLODE OVERNIGHT! MEGA CRYPTO NEWS! | Youtube

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Secret Banking Crisis Looms; What the Fed Doesn’t Want You to Know – Insider Nomi Prins | Youtube

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Zimbabwe Applies For ISO Code For ZiG Currency (5/22/24)

TNT:

Harambe:  Zimbabwe Applies For ISO Code For ZiG Currency | Pindula (5/22/24)

Reserve Bank of Zimbabwe (RBZ) deputy governor Innocent Matshe said that the central bank is in the process of applying for an International Organisation for Standardisation (ISO) code for the Zimbabwe Gold (ZiG) currency as it moves to make the unit a stand-alone currency, reported.

ISO currency codes are three-letter alphabetic codes that represent various currencies used worldwide. These codes are essential for currency trading and international settlements.

When combined, they form the symbols and cross rates used in financial transactions. For instance, USD stands for the United States Dollar, EUR represents the Euro, and JPY denotes the Japanese Yen.

The ISO currency code for the defunct Zimbabwean dollar was ZWL.

Speaking at a breakfast meeting hosted by the Zimbabwe Economics Society in Harare on Tuesday, Matshe said:

According to our economic strategy, we believed that the success of our currency, ZiG, would depend on a limited management system, maintaining a tight monetary policy stance, controlling money supply and creating demand for the domestic currency.

This would demonstrate policy consistency, build trust in ZiG and facilitate effective communication. Let me confirm that ZiG is indeed a standalone currency.

We are currently in the process of applying for an ISO code and we expect no deviation from our initial protection policies.

Matshe claimed that Zimbabwe’s economy has been growing despite exchange rate fluctuations and inflation. He said:

It is essential to have an affordable base currency. We cannot sustain a dual currency situation indefinitely. Zimbabwe’s economy has been growing despite past instabilities, including currency fluctuations, exchange rates and inflation. However, we need to address these issues.

Matshe also pointed out that it was critical to include all sectors in currency reform, including those outside the traditional financial and banking sectors. He said:

The introduction of ZiG aimed to end the instability and create a standardised currency. Without robust reforms, our economy would not have grown significantly.

We need a framework that harnesses the potential of all sectors, including those outside the traditional financial and banking sectors.

Inclusivity is crucial and we must understand that digital finance is essential for a 21st-century economy. 
We have made progress in electronic financial activities, but we need to think seriously about digitalisation.

Certainty and stability in times of crisis allow for long-term planning and investment, which is key to industrialisation.

https://www.pindula.co.zw/2024/05/22/zimbabwe-applies-for-iso-code-for-zig-currency/

“Tidbits From TNT” Wednesday Morning 5-22-2024

TNT:

Tishwash:  Biden's decision to extend the emergency in Iraq protects Baghdad's money - Iraqi expert

The expert in American affairs, Professor Aqeel Abbas, confirmed that the White House’s decision, which was issued yesterday, to extend the state of emergency in Iraq, stems from economic and financial reasons, and has no military or security aspect.

He said that the United States protects Iraqi funds from seizure in accordance with this decision, as There is an unknown number of companies and entities around the world that have sued Iraq over the invasion of Kuwait, and if this protection decision is cancelled, Iraqi funds outside the country will be subject to seizure.

Aqeel Abbas, in a statement:

Extending this decision is economic and financial, not military or security. It protects Iraq from judicial rulings issued by courts in several countries against Iraq, some of which we do not know yet, because the Iraqi state did not inventory the cases filed against the backdrop of the invasion of Kuwait. Many companies were harmed at that time and lawsuits were filed in different countries.

If the US decision is not extended, many Iraqi funds will be seized, and it will be difficult for Iraq to transfer oil money to the Central Bank.

Today, the United States is the protector of Iraqi funds. The funds go to an American bank in New York and then are transferred to Iraq.

Biden stated in a letter addressed to the US Congress:

Obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security, and the development of Iraq's political, administrative, and economic institutions continue to pose an extraordinary threat to the national security and foreign policy of Iraq and to the United States.

The national emergency declared in Executive Order 13303 relating to Iraq will remain in effect after May 22, 2024 for another additional year.   link

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CandyKisses:  Sudani arrives in Tehran to offer condolences on the death of the Iranian president and his companions

Shafaq News-Prime Minister Mohammad Shia al-Sudani arrived on Wednesday morning in Tehran to offer condolences on the death of President of the Islamic Republic of Iran Ebrahim Raisi, Foreign Minister Amir Hossein Abdollahian and their companions in the crash of the helicopter they were carrying them.

The Sudanese media office said in a statement today that the Sudanese is heading a high-level official delegation that includes the President of the Federal Court and a number of ministers and governors.

An informed source said on Tuesday that the Sudanese will participate in the funeral of the Iranian president in the capital, Tehran.

The source told Shafaq News Agency that "the Sudanese will head to the Iranian capital Tehran in order to participate in the official funeral of Iranian President Ibrahim Raisi on Wednesday."

On Monday, Iran officially announced the death of President Ebrahim Raisi along with Foreign Minister Hossein Amir-Abdollahian in the crash of a helicopter they were traveling with other officials in a rugged area near the border with Azerbaijan, in the northwestern province of East Azerbaijan.

Mourners began gathering in Tehran on Tuesday in preparation for days of funerals and processions for the late Iranian president, his foreign minister and other officials who died in the helicopter crash.

On Tuesday morning, a motorcade driven by a truck carrying coffins slowly moved through the narrow streets of central Tabriz, the closest major city to the crash site.

The bodies are due to be transported to Qom before being transported to Tehran, a funeral ceremony presided over by Iran's Supreme Leader Ayatollah Ali Khamenei on Wednesday, and a procession will be held in Birjand, Raisi's hometown, on Thursday, followed by a funeral and burial in the city of Mashhad.

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CandyKisses:  The Council of Ministers issues decisions on lagging projects and financial reform

Baghdad - Mawazine News

The Council of Ministers on Tuesday adopted new decisions related to the country's neglarizing projects and financial reform steps, while deciding to install 17 general managers in separate departments.

This came, during the presidency of Prime Minister Mohamed Shiaa Al-Sudani, the 21st regular session of the Council of Ministers, in which the general situation in the country was discussed, the topics on the agenda were discussed, and the necessary directives and decisions were issued thereon, according to a statement received by Mawazine News.

At the beginning of the session, the Sudanese touched on the painful incident that claimed the lives of the President of the Islamic Republic of Iran, the Minister of Foreign Affairs and their companions, stressing the solidarity of Iraq, the government and people, with the Iranian people and the Iranian leadership in these difficult times, and described the departure of the Iranian president as a great loss, because of his personality that loves peace, work and cooperation, referring to the joint files, whether between the two countries and with the countries of the region, which witnessed, during his presidency, further progress and achievement.

The session witnessed the review of the results of the report on the evaluation of the performance of ministries in the field of anti-corruption for 2023, and the Prime Minister directed all ministers to pay attention to the results of the report, and work to follow up on his recommendations and observations and remedy them in the results of the evaluation for 2024.

In the context of following up on infrastructure projects, the Prime Minister directed the preparation of a comprehensive vision and an integrated study on the Hally Road project in Basra Governorate, attracting sober companies in implementation, and coordinating with Basra Governorate on completion and implementation.

The Prime Minister also directed, within the framework of reforming the administrative structures of state institutions, to re-form a committee that is studying the merger of the General Company for Food Trading and the General Company for Central Markets, to present the results within a month.

The Council of Ministers continued to consider the file of lagging and suspended service projects, and put the processors to complete the work in them, as it approved the following:

1- Increasing the amount of the reserve for the project (processing and implementation of two treatment stations in Nasiriyah / Dhi Qar Governorate), and increasing the total cost of the Nasiriyah sewage project.

2- Increasing the total cost and amount of reserve for a construction (establishment of the second corridor of the Ghammas Junction Road - Al- Hamza 62 km).

3- Increasing the total cost and amount of reserve for a construction (establishment of a modern bridge and its approach).

With regard to evaluating the efficiency of general managers and follow-up performance, the Council of Ministers approved the installation of (17) Directors-General in various state ministries and institutions, distributed by (4) general managers in the Ministry of Water Resources, (3) in the Ministry of Agriculture, (3) in the Independent High Electoral Commission, (3) in the Military Industrialization Authority, and one Director-General in the ministries of electricity, industry, the Political Prisoners Foundation, and the Federal Financial Supervision Bureau.

In the context of following up the implementation and completion of traffic jam mitigation projects, the Council of Ministers approved what is confirmed in the book of the Ministry of Construction, Housing, Municipalities and Public Works, on the project to develop (front torm), provided that the Ministry bears the integrity of the procedures related to contracting. The project includes the expansion of the road from the front towards the Diyala Bridge, to improve traffic, and to ensure that the realization of the flow of integration with the project of the Mohammed Al-Qasim road connecting the road to the army canal road from the side of Rustama, in addition to the expansion of adjacent streets within the track, the establishment of two bridge intersections and the organization of the front.

The Council of Ministers voted to exclude the Italian company (GKSD) from the registration conditions set out in the amended Foreign Companies Branch Law (2 of 2017), and approve the financing of the preparation and management contract for the Internal Security Forces Hospital from the budget of the Directorate of Welfare Affairs of the Internal Security Forces, while ensuring the implementation of the restriction of all revenues, which the hospital receives from its operation, finally in favor of the budget of the aforementioned Directorate.

In the field of financial and administrative reform, the Council of Ministers approved the adoption of the (National Methodology for Good Governance Standards in Iraq), prepared by the Diwani Order Committee (84 of 2021), based on the provisions of the Constitution, taking into account the observation of the Legal Department in the General Secretariat of the Council of Ministers, not to create a section related to the follow-up of the implementation of the adoptions of good governance and administrative configurations, within the planning departments in ministries and entities not associated with the Ministry and governorates; to to conflict with the government's vision of reducing and rationalizing administrative structures. A specialized team, from the Ministry of Planning, the Board of Advisors and the Follow-up Committee of the Government Program, submits a report every (3) months, to the Prime Minister for decision.

As part of the follow-up of the energy projects with foreign companies, the Council of Ministers approved the recommendation of the Ministerial Council for Energy (24035 i) for the year 2024, which includes the contractor (Dutch Boskas Company) for a period of one month to sign the contract, starting from the date of issuance of the decision of the Council of Ministers, otherwise the appropriate measures will be taken in accordance with the instructions for the implementation of government contracts (2 of 2014).

In the same file, the recommendation of the Ministerial Council for Energy (24039 I) for the year 2024, on the supply of gas from (Al Hilal Oil Company) was approved, which includes the approval of the findings of the committee composed in the Ministry of Electricity, on discussing the price of dry gas to be processed from (Al-Hilal Oil Company), to the Kirkuk gas power plant, according to the details established by the ministry, and its continuation of signing the contract with the aforementioned company, taking into account interest the opinion of the Legal Department in the General Secretariat of the Council of Ministers, and the Ministry bears the integrity and accuracy of contractual procedures, in accordance with the laws, regulations and instructions.

In the foreign relations process, the Council of Ministers agreed to submit the Ministry of Foreign Affairs, through an official memorandum, to ensure the right to open a consulate general of the Federal Republic of Germany to the Republic of Iraq, in case of a future request in accordance with reciprocity, and the matter will be presented to the Council of Ministers at the time after determining one of the Iraqi provinces from the German side to be the headquarters of its consulate.

In application of the Council's approach to supporting the localization of the pharmaceutical industry, and encouraging the production of medicines and medical supplies inside Iraq, the Council of Ministers approved the exception (National Health Factory) from the provisions of paragraph (1) of its resolution No. (23151), related to the classification of pharmaceutical factories and the controls of referring the contracts of the Ministry of Health to them, in accordance with the classification mentioned in the aforementioned article.

The Council also approved the amendment of its resolution (24045 of 2023), regarding the Ministry of Industry and Minerals to take over the processing of the Justice Book and Real Estate Registration Departments with real estate agencies and bonds, in order to ensure the printing of the needs of the real estate registration and the law book departments in all the Ministry of Justice, not the agencies and the real estate bond (25) only, as well as the General Company for Food Products / Ministry of Industry and Minerals, amending its founding statement in line with the activity mentioned in accordance with the law.

In the direction of cooperation in the judicial and legal field with friendly countries, the Council agreed to authorize the Minister of Justice to negotiate and sign a draft cooperation agreement, between the Government of the Republic of Iraq and the Government of the Republic of Bangladesh, in the field of transferring those sentenced to deprivation of liberty, based on the Constitution, and the Ministry of Foreign Affairs to prepare the necessary document of authorization on behalf of the Government of the Republic of Iraq to the Minister of Justice, in accordance with the adopted contexts and submit it to the General Secretariat of the Council of Ministers; to obtain the signature of the Prime Minister.

In the field of following up Iraq's contribution to international efforts to combat climate change, the Council of Ministers approved the retention of the members of the permanent negotiating delegation for climate change, and the possibility of replacing them except as stipulated in the Diwan Order (24115 of 2024), and securing financial allocations for the participation of the members of the permanent negotiating delegation for climate change in the various climate meetings, as well as the annual climate conference, in accordance with the laws, regulations and instructions in force. The Ministry of Finance finances the amount established by the Ministry of Environment.

Mot: . Yaaaaaaaaaaaaaaaeh! -- Its FRIDAY!!! – ooooh 

Mot: Be sure to follow directions

Goldilocks' Comments and Global Economic News Tuesday Evening 5-21-24

Goldilocks' Comments and Global Economic News Tuesday Evening 5-21-24

Good Evening Dinar Recaps,

"The final elements for the implementation of Basel III in the EU are now agreed and will start applying on the 1st of January 2025."

Currently, we have tokenized assets and stablecoins backed by gold and other commodities moving through legislation and expected to become law at the end of June 2024.

This is forcing governments around the world to begin making decisions to implement their new digital economy. These monetary policy shifts will create credit valuation adjustments across all sectors of the market including Forex.

Countries have began moving towards bilateral trade agreements utilizing their own currencies in trade. This move will increase the demand for their currencies, yet they still need a stable price on them.

This is where stablecoins come into play. Stablecoins are backed by commodities. This alone will support the need to raise the value of currencies around the world to level the playing field in trade.

For the last 4 years, trade has been disrupted and rerouted to increase the level of exports in countries around the world offering support for these new currency values that are about to come into play.

The IMF has been working with countries globally to give guidance and instruction on their countries' ability to shift into a new supply and demand regimen. Work has been done to increase Capital Requirements  through commodities and increasing exports.

These measures will support new values and justification for currency valuation adjustments because their credit in the ability of doing so will be met by the above requirements.

We have a deadline for these changes to take full effect by January 1st, 2025. As you can surmise, price pressures to move into a real value between now and then are about to begin.

Look for XRP and XLM to be the first movers in the new digital economy. Their supporting actors will be ISO 20022 digital coins. These ISO tokens will be networks that will move money from one sector of the market to another.

Our movement from wire transfers to instant transfers electronically and through a quantum computer will increase money velocity. This will increase demand and increase the value and support for currencies going to higher levels.

Just holding ISO tokens and utilizing them in the new economy, with gold backing each of them, will serve as the bridge to our next economy. Commodities will be the next long-term Bull Run.

Our first RV (digital) is about to interface with traditional market assets on the QFS. This will transform our banking system and markets (paper money) into the new digital asset based trading system - the second RV.  Study Smarter   The Print    IT Supply Chain    Investopedia   Deloitte
 
© Goldilocks

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RESULTS of Iraq's Emergency Budget Meeting | Youtube

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Twitter

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CBI Meeting with World Bank Vietnam in Trouble? Maybe | Youtube

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NEW: House Democratic leaders said today they will NOT whip against House Republicans' crypto bill, I'm told.

The whip question sent to members this a.m. says that Waters and Scott "strongly oppose" the legislation, but does not urge them to vote "no": politico.com/f/?id=0000018f…    Twitter

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Folks, the new digital economy continues to move forward, and it is beginning to force decisions around the world on the government level.

Things have reached a critical state in the currency markets forcing the issue to move forward with credit valuation adjustments across all sectors of the market.

We now have a drivers for the market. It is digital, gold, and sailed across the Open Seas.

© Goldilocks

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FIT21 Gets House Vote, Will Crypto Stay a Partisan Issue | CCN

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H.R.4763 - 118th Congress (2023-2024): Financial Innovation and Technology for the 21st Century Act | Congress.gov | Library of Congress

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H.R. 5403, CBDC Anti-Surveillance State Act | Congressional Budget Office

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Saudi fintech barq and TerraPay forge strategic partnership | Arab News

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Santander, Iberpay introduce global instant transfers | The Paypers

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Highlighted here, the Ripple case and the ruling of #XRP was the main catalyst that started the push for real legislation to pass.

Without Ripple v SEC, this week would not have happened.   Twitter

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Biden extends Iraq’s national emergency for more year | Search4Dinar

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Russia purchased arms manufactured by its BRICS counterpart India by paying $4 billion in local currencies and not the US dollar. The Indian-made arms and equipment were procured by Russia citing 'defense purposes'. | CryptoRank

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BlackRock Exec Predicts Tidal Wave of Institutional Money Flooding Into Bitcoin ETFs — TradingView News 

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World Economic Forum founder Klaus Schwab will leave executive post | Semafor

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Several States Take Steps To Block A Central Bank Digital Currency | ZeroHedge

👆 it's going to be a fight

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JUST IN: Donald Trump's presidential campaign officially accepts Bitcoin and crypto. | @Watcher Guru

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Silver's Final Breakout Has Begun as World Trumps US Derivative Markets | Youtube

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"Ripple CLO Claims The SEC Has a NODE on the XRP Ledger"

A NODE offers ways to approve and process transactions without a centralized authority.  

A node validates and authenticates blockchain transactions. A Blockchain node's primary job is to confirm the legality of network transactions.

Once a confirmation is made between two digital networks through a blockchain consensus, a transaction is validated on both sides of an exchange.

A protocol brings all nodes of a distributed blockchain network into agreement on a single data set or similar data confirming the right to move forward inside a blockchain connection. Then, a digital transaction can go through for both parties.

This is done electronically and without the need of someone mediating the transaction on the QFS.

It looks like XRP and the SEC have decided to play ball together.  Times Tabloid  Trade Marks  Ledger

© Goldilocks

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Iraq Economic News and Points to Ponder Tuesday AM 5-21-24

Iraq Economic News and Points to Ponder Tuesday AM 5-21-24

The International Monetary Fund: It Is Expected That Iraq’s Economy Will Recover By 5.3% For The Year 2024-2025

Posted On05-21-2024 By Sotaliraq  Translated by / Hamed Ahmed  The International Monetary Fund indicated in its latest report that there are expectations for an economic recovery in Iraq for the year 2024-2025, reaching a rate of 5.3% before gradually stabilizing at a rate of 3.5% in the medium term, warning at the same time that the economic situation in general is fragile and that without action Economic and financial reforms regarding spending. This growth is vulnerable to decline if oil prices fall.

The Executive Board of the International Monetary Fund stated in its report issued on May 16, 2024, that local stability has improved further since the new government took office in October 2022, which facilitated the passage of the first three-year budget in Iraq, which led to a huge financial expansion starting in 2023. This supported a strong recovery in Iraq's non-oil economy after a contraction in 2022, and a decline in inflation by the end of 2023 by 4%.

However, Fund experts point out that the economic situation in Iraq is still fragile, as its non-oil imports and exports constitute only a small portion of the gross domestic product, making that country vulnerable to major fluctuations in oil prices.

On the other hand, the public sector is still dominant in the arena, compared to a decline in private sector development procedures for reasons related to cases of corruption and bureaucracy, as well as dilapidated infrastructure and difficulty obtaining credit, and unemployment rates are still high, especially among the youth segment, stressing the necessity of taking reform measures. Economic and financial.

The International Monetary Fund expected the growth and recovery of the gross domestic product in Iraq for the year 2024-2025, driven by improved oil production rates and financial expansion, indicating its growth by 1.4% in the year 2024, expecting the country’s gross domestic product growth rates to increase to reach 5.3% in the year 2025 before stabilizing. In the medium term, gradually at a rate of 3.5%.

While Fund experts pointed out that the risks of a decline in oil prices and an increase in OPEC+ demands to reduce production would cast a shadow on the growth rate and increase pressure on external debt, stressing the necessity of taking radical economic and financial structural reform measures to ensure continued financial and financial stability.

External debt and the necessity of developing the aspect of diversifying the sources of the economy and achieving stable and comprehensive growth for the private sector.

The Fund's experts recommend encouraging the Iraqi authorities to focus their control on public spending lists and mobilizing non-oil revenues, with the necessity of making reforms in controlling customs port resources and restricting excessive public expenditures to achieve a financial settlement while reforming the financial aid and retirement system.

The Fund's experts also recommended the need to restrict the Central Bank's financial policy efforts and strengthen the monetary liquidity policy framework, noting that improving coordination between financial and monetary operations will help absorb the increase in liquidity and enhance the financial transfer policy.

They also stressed the need to restructure banks and government banks, encourage the modernization of the private banking sector, and facilitate the establishment of mutual banking relationships.

The report states that developing the private sector and diversifying the sources of the economy are essential factors to ensure long-term financial stability and enhance job creation. This requires comprehensive reform of the private market aimed at improving society's capital and improving the environment for private commercial activities, including reforming the electricity sector and combating corruption.

The experts stressed the need to enhance the development of the private sector and develop economic diversification to address the long-term unemployment crisis and confront any future economic challenges.

As it is expected that the rate of the number of people entering working age will increase rapidly, adding 0.8% of the labor force entering the market annually, which requires a growth in the gross domestic product at a rate of 5% for the next ten years to be able to absorb this growth in the labor force and reduce the unemployment rate. To one degree.    LINK

The Acquisition Of The Currency Window Opens The Appetite Of “Jordan National Bank” To Open A “Digital Bank”

Economy  05-21-2024 | 2,526 views  Alsumaria News – Economy  After a member of the Parliamentary Integrity Committee, Alia Nassif, announced that the Jordan National Bank is one of a group of banks in the process of obtaining a license to open a “digital bank” without a headquarters in Iraq, it seems that the Jordanian Bank was not satisfied with its “takeover” of the currency selling window. According to experts in the economic field.

Representative Alia Nassif said in a statement received by Al-Sumaria News, “7 licenses will be issued for digital banks, or the so-called environmentally friendly green bank, which are banks that do not have headquarters (one of which is affiliated with the Jordan National Bank).”

Nassif added, "This wrong step comes at a time when the banking sector in Iraq is suffering from an increase in banks. The service provided by digital banks could have been added to Iraqi banks instead of granting licenses to unknown banks without headquarters and without capital."

For his part, economic expert Duraid Al-Anazi said in an interview with Al-Sumaria News, “The Jordan National Bank has internal and external privileges and extensive relations and correspondents, and it took advantage of the weakness of Iraqi banks in this aspect by seizing the largest part of the currency selling window,” indicating that “the central bank is incapable.” About finding a solution to this process because of the risks it poses.”

Al-Enezi added, "These risks are represented by the fact that the transfers that go out from the Central Bank to the Jordanian Bank are unsafe if it is subjected to any external accounting, because Iraq does not have any control over it as a foreign bank."   LINK

The Presidency Of The House Of Representatives Receives The 2024 Budget

Iraq  Tuesday, May 21, 2024 12:52 PM   Baghdad/National News Center

Today, Tuesday, the House of Representatives announced that it had received the federal general budget schedules for the current year, 2024, from the government.

The Secretary-General of the House of Representatives, Safwan Bashir Al-Jarjari, said in a statement received by the National News Centre, that “the 2024 budget tables have been received from the government.”   Al-Jarjari added, “The tables have been referred to the Presidency of the House of Representatives.”   https://nnciraq.com/256161/

The Deputy Secretary-General of the Council of Ministers discusses with the Regional Director of the World Bank Indicators For Improving The Business Environment And Supporting The Private Sector In Iraq

Tuesday 21, May 2024 11:19 | Economical Number of readings: 259  Baghdad / NINA / Deputy Secretary-General of the Council of Ministers, Dr. Farhad Nimatullah Hussein, discussed with the Regional Director for Equitable Growth, Finance and Institutions for the Middle East and North Africa at the World Bank, Muhammad Nader, and his accompanying delegation, indicators of improving the business environment, and supporting the files of digital transformation and the banking sector in Iraq. .

According to a statement, the Deputy Secretary-General of the Council of Ministers confirmed to the Council that the Prime Minister’s government program focused on supporting the private sector by improving the business environment and simplifying procedures in various fields, given the importance of this vital sector and the necessity of multiple sources of income in Iraq.

He pointed out: “The committee for improving the business environment was formed at the highest level of the government and concerned sectoral bodies, and within the business environment and the support of the private sector, it completed many works that contributed to addressing the obstacles facing this sector, most notably: amending the companies law, the tax law, and issuing a law.”

 New insolvency issues, in addition to simplifying procedures for issuing construction permits, facilitating the registration of companies and establishing a single window, and supporting and encouraging foreign investments in Iraq.

The Deputy Secretary-General called on representatives of the World Bank to provide support and assistance in the areas of developing the work of the banking sector, digital transformation and electronic governance. And supporting investment and reform of state-owned companies.

For his part, the Regional Director for the Middle East and North Africa at the World Bank indicated that the Bank is a key partner in supporting Iraq’s aspirations, to improve the business environment and implement strategic plans and programs to develop the private and financial sector and support digital transformation in Iraq, stressing that Iraq is one of the leading countries and the first country within the Middle East region to fully work and implement processes to improve the business environment that would increase investments in Iraq./End3   https://ninanews.com/Website/News/Details?key=1127856

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

Provoking Thoughts and Points to Ponder on Money

Be the business never so painful, you may have it done for money.  - Thomas Fuller

But then one is always excited by descriptions of money changing hands. It's much more fundamental than sex.  - Nigel Dennis

God makes, and apparel shapes: but it's money that finishes the man.  - Thomas Fuller

If a man has money, it is usually a sign too, that he knows how to take care of it; don't imagine his money is easy to get simply because he has plenty of it.  - Edgar Watson Howe

Interest works night and day in fair weather and in foul. It gnaws at a man's substance with invisible teeth.  - Henry Ward Beecher

http://www.famousquotesandauthors.com/topics/money_quotes.html

http://www.famousquotesandauthors.com/

“Tidbits From TNT” Tuesday 5-21-2024

TNT:

Tishwash:  The House of Representatives receives the budget schedules from the government

Today, Tuesday, the Media Department of the House of Representatives announced that the House had received the budget schedules from the government.

The department said in a statement received by the Iraqi News Agency (INA), “The Secretary-General of the House of Representatives, Safwan Bashir Al-Jarjari, received the budget schedules from the government today.”

She added, "Al-Jarjari referred the agendas to the Presidency of the House of Representatives link

Tishwash:  The budget tables are in a final government audit before being sent to Parliament

An informed source revealed that the financial budget schedules for the year 2024 are subject to a final government audit before being sent to the House of Representatives.

“The budget tables are now in the legal department of the General Secretariat of the Council of Ministers, and it is hoped that their audit will be completed within the secretariat and then sent to the Parliamentary Finance Committee.”

The source stated, “In the coming days, the Finance Committee will review the budget schedules sent by the government and follow up on their disbursement, and will make some amendments to them if necessary to adapt them to the public need.”

The Council of Ministers voted in an extraordinary session last Sunday on the budget schedules and referred them to the House of Representatives.

Prime Minister Muhammad Shiaa Al-Sudani revealed in a press conference after the session the details of the budget tables and the most prominent contents of them. He said:

Table (A) included revenues totaling (144.336) trillion dinars, and Table (B) concerned the total planned expenditures totaling (210.936) trillion dinars.

- The planned budget deficit amounted to (63.599) trillion dinars, and Table (C) is the centrally funded workforce table, amounting to (4,079,906) employees, and governing expenditures amounted to (10.042) trillion dinars.

- The investment budget for 2024 is (54.298) trillion dinars, and may reach 55 trillion dinars.
- Governorate allocations to local government programs with an investment allocation amounted to (10.633) trillion dinars in 2023, and we financed (3.333) trillion, based on fundamental requests from the governorates.

- The remainder of the allocation (7.333 trillion dinars) is in a trust account, at the disposal of the provincial governments.

- Allocating approximately (8) trillion dinars to ongoing projects, including allocations in 2024.
- For the first time in the history of budgets, we have exceeded spending by 50%.

The increase in debt repayment amounted to 3.9 trillion dinars. In 2023, the debt repayment was 12,751, and in 2024, we repaid 16.725 trillion.  link

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Tishwash:   Government Spokesman: This year and the coming will witness progress on important projects that affect the lives of citizens

The official spokesman for the Iraqi government, Bassem Al-Awadi, announced today, Monday, that the current and next year will witness the movement of important projects that affect the lives of the citizen.

Al-Awadi said in a televised statement: “The Iraqi government has tended to reduce debts and reduce the deficit in the upcoming budget, indicating that the government has tended to maximize non-oil revenues to more than 18 trillion, adding that the government has tended to grant guarantees and guarantees for vital projects that revive the economy.”

Al-Awadi stressed, “Our institutions are able to compensate the United Nations mission and our cooperation continues with the organizations.”  link

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Tishwash:  Iraq is whitewashing its debt book... and fears of financial waste

Iraq closed the file of its debts owed to the International Monetary Fund and accumulated since 2003, with a total amount exceeding 8 billion dollars, through several loans that were aimed at supporting macroeconomic stability and implementing financial reforms.

According to the financial advisor to the Iraqi government, Mazhar Muhammad Salih, after 2003, the International Monetary Fund provided several loans to Iraq that were aimed at supporting economic stability and implementing financial reform processes between the years 2003 and 2021.
Saleh explained, in an interview reported by the Iraqi Media Agency (INA), that Iraq obtained several financing programs from the International Monetary Fund, including emergency loans and relatively long-term financial aid. 

Saleh stated that since 2003, the value of loans and financial aid granted by the International Monetary Fund to Iraq amounted to $8 billion, and was repaid in full, with a focus when granting loans on implementing programs linked to supporting macroeconomic stability and implementing the necessary financial reforms. The International Monetary Fund had previously explained that Iraq needs to gradually correct its public financial conditions, to achieve debt stability in the medium term and rebuild financial reserves.

In its statement, the Fund welcomed the strong economic recovery, low inflation in Iraq, and the improvement in local conditions that led to the implementation of the first three-year budget, stressing the necessity of sound economic policies and structural reforms in Iraq to secure public finances and debts, given the regional conflicts that may affect oil prices.

At the end of last year, 2023, the International Monetary Fund stated that Iraq's economy relies heavily on oil revenues, and needs radical structural reforms to diversify sources of income and achieve sustainable growth. 

Financial waste

In this context, the financial expert, Rashid Al-Saadi, said that financial waste in Iraqi state institutions exceeds 40 billion dollars annually, and that Iraq is capable of addressing this serious problem by drawing up a sound monetary economic policy and reducing levels of financial waste. Al-Saadi added to Al-Arabi Al-Jadeed that Iraq was one of the founding countries of the International Monetary Fund in 1944, and has a strong position in the international financial system, due to its high confidence that enables it to achieve its economic policies and provides sustainable development opportunities.

He pointed out that the International Monetary Fund's decision not to provide Iraq with development loans comes because of the Fund's policy, which requires granting debts for the purpose of achieving sustainable development projects and not in order to pay salaries and the deficit in the state budget. Al-Saadi stated that the IMF stressed greatly the importance of Iraq’s move to rationalize its cash consumption, work to achieve new resources, and invest its natural and human resources to achieve the optimal financial output away from the financial waste occurring in state institutions.

He stressed that there are more than 100,000 employees who receive salaries without any work or production, in addition to the presence of approximately 150,000 employees who receive more than one salary, in addition to the great waste in the expenses of the government and its higher institutions. He stated that the financial waste in salaries and expenses holds the state budget at more than 40 billion dollars annually, which is a dangerous percentage that leads to significant slackness and a dangerous increase in the volume of expenditures, stressing the importance of reducing surplus expenditures and working to diversify the sources of national income for the Iraqi state. 

Loan burden

The economic researcher, Ahmed Sabah, said that Iraq tried to improve its relationship with the International Monetary Fund after 2003 through the Paris Club Agreement and the resulting decisions in order to extinguish the debts incurred by Iraq before its invasion in 2003, which were estimated at around 100 billion dollars, and which passed Several stages ended in 2008.

Sabah added to Al-Arabi Al-Jadeed that Iraq bore the burden of new loans at the beginning of 2014, which witnessed a rise in government expenditures on the battles to regain control of the areas that fell under the control of ISIS, and the financial problems that befell the state and a large deficit in the balance of payments. Which prompted him to request a loan from the International Monetary Fund worth $5.34 billion to meet his financial obligations.

Sabah stressed that Iraq did not sever its relationship with the International Monetary Fund, but rather the economic policy currently followed has caused the Fund to lose its confidence in it, due to the large waste of money in Iraq and the high volume of unjustified spending far from production and the multiplicity of means of national income. He stated that Iraq's economy is unstable and suffers from many fluctuations due to its total dependence on oil revenues, in addition to the state's poor economic management and its weak production performance.

Sabah stated that any decline in global oil prices will cost Iraq a lot, increase the deficit rate and raise the levels of economic risk that will result in Iraq’s bankruptcy and its reaching dangerous stages. He stressed the importance of improving Iraq's financial situation and strengthening its economic relations with international financial organizations and bodies to raise the level of confidence and confront economic crises.  link

Mot:  . Understanding Women!!! ---

Mot: ... The Moments When Ya Wonder – Hmmmmmmmm

MilitiaMan: Iraqi Dinar - FACTS - RTGS - EO 13303 - Non-Oil - Revenues - Exchange Rate Recovery - IQD Inevitable

Iraqi Dinar - FACTS - RTGS - EO 13303 - Non-Oil - Revenues - Exchange Rate Recovery - IQD Inevitable

MilitiaMan:  5-20-2024

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=TVkfVEztu6I

Goldilocks' Comments and Global Economic News Monday Evening 5-20-24

Goldilocks' Comments and Global Economic News Monday Evening 5-20-24

Good Evening Dinar Recaps,

"Geopolitical Tensions Continue to Shape Global Trade"

The BRICS Nations is and will continue to grow. The next economy will be determined by the price of gold, and not, the dollar. Many countries are leaving the dollar and trading in their own local currencies. To join the BRICS Nations, you have to own gold to support your country's currency. And then, you can be trading partners inside the BRICS Nations.

Saudi Arabia is expected to join this time around. They are expected to join in August of 2024. This shift from the Petro dollar to a Petro Yuan is expected to be a significant shift in monetary flow. It will create a more balanced set of demands on local currencies in a way we have not seen in a long time.

These new demands are forming because of geopolitical tensions, but we would have eventually had to move this direction anyway. A Fiat monetary system just simply is not meant to last forever. We have been in a transitional economy since we moved off of the gold standard in 1973 under President Richard Nixon.

For the last 4 years, new alliances have been formed on the sea and on the land that will determine new trading routes and trading partners. These new bilateral agreements between countries will form new trading relationships and new demands on our local currencies.

This will shift our economies forming new business models that will determine prices on goods and services through supply and demand. Each country will be backed by gold and other commodities to level the playing field and opportunities going forward.

This is never been a 'push of the button' reset moment. Rather, it has been a gradual evolution into a new way of life determined by an inner desire by each country to experience a level of freedom through conscious choices that bring forth what is best in all of us.

It is a movement of the body, mind, and soul to restore a separation that was never meant to occur. As we return to our natural habitat, our lives will be forever changed by an event that calls on what is highest in us to live in the world as it is.

The G20 will meet late this year to discuss and work on countries that still need attention in the Global South. The focus of this meeting is to level the playing field in the Emerging Markets. No one is left behind on this global transition. Every effort is being made to include every country in the world on this new digital asset-based trading system.   CSIS   BIS   AP News

WATCH THE WATER.

© Goldilocks

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The Bank of London launches GenAI assistant to aid enterprise API integration | Verdict

The Bank of London has launched an AI code assistant, and it is moving into mainstream banking. GenAI collects and interprets financial data on a large scale.

It helps banking managers make decisions for clients determining a good path forward for their money. It establishes portfolios designed to meet each customer's unique needs. And, it detects fraud and suspicious activities on people's accounts along with many other services.  

These products generated through an AI code goes into an Application Programming Interface (API). 

APIs are used to create an open structure that allows interaction between a bank's core services and third-party developers.

This allows banking services such as payments, identity verification, and data sharing to function.

© Goldilocks

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Implementation Status & Results Iraq - Iraq: Banking Sector Reform  

READ Pdf HERE

P1133370ISR0Di012201101318434831701.pdf

Mr. Ali Mohsen Al-Alaq recently met with the World Bank to discuss the next steps in the restructuring of Iraqi Banks into the new digital economy.

They have completed Phase 1 of their restructuring process, and now, they're moving into Phase 2. Phase 2 is the implementation stage of the Riyada Bank project.

Currently, the Central Bank of Iraq is licensing a number of digital banks.

© Goldilocks

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Real-time Analytics News for the Week Ending May 18 | RTinsights

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 Food for Others- Inspiring.MP4

 WATCH & LISTEN HERE

This is how life is supposed to be just so everyone knows..

Lots of love, lots of selfless giving that goes all the way around until it becomes a free energy engine of love. 

👆  Goldilocks pointed to this article

👆 a project idea...

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World Bank becomes first international issuer of digital Swiss franc bonds | Global Capital

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Ripple’s Global Payment Initiative in Collaboration with US Faster Payments Council | CoinPedia

According to the report, Ripple is positioning global payments as a top priority, aiming to revolutionize the industry. The survey, conducted in partnership with the FPC, delves into current and future adoption trends of blockchain payment systems, shedding light on the present scenario and what lies ahead.

Ripple’s CEO, Brad Garlinghouse, emphasizes, “[Blockchain will drive] faster payments between businesses, reducing settlement windows, and ensuring close-to-real-time payments for all bookings.”

Quoting from the report, Ripple emphasizes the real value that blockchain in payments unlocks. An impressive 77% of respondents believe that using blockchain for payments is either “Very Beneficial” or “Somewhat Beneficial” for their organizations’ end customers. Additionally, over 60% share the same sentiment regarding customers using cryptocurrency for payments.

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New Era of Inclusive Digital Payments Unveiled by NPCI |  Smartphone Magazine

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Keep your eyes on Digital Ledger Technology. Once this is regulated, instant payments become possible. (T+0 instant settlements) This will effect prices on tokenized assets and stablecoins.

This year, the movement of money itself will create a higher demand in the faster payment sectors of our Market. These new demands create price pressures.

© Goldilocks

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IBC to Ethereum: Building the interconnected Internet of Blockchains | CryptoSlate

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From the Goldilocks Q&A room

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What Is Apple Doing in AI? Summaries, Cloud and On-Device LLMs, OpenAI Deal - Bloomberg

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$1800 Stimulus Checks 2024 for Everyone: USD 1,800 Payment Status & Know Eligibility | Paymentweek

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Analyze This! Foreign Currency Liberalization | IMF Videos

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Stellar Network Adds Smart Contract Capabilities Bolstered by Extensive Onramp Network - The Defiant

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Goodbye to charging cars forever: the diamond battery that lasts 28,000 years and has an incalculable |  ECO News

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KRG shares first list of Know Your Customer (KYC) data with the Trade Bank of Iraq (TBI) | Search4Dinar

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