“Tidbits From TNT” Wednesday Morning 8-28-2024

TNT:

Tishwash:  Iraq spends half of its budget on imports, and these countries are at the forefront of suppliers

The Ministry of Planning revealed "the volume of Iraq's annual imports."

The Ministry's spokesman, Abdul Zahra Al-Hindawi, said in a statement to the official media, that: “Iraq imports many goods and merchandise from various countries of the world, including foodstuffs of various kinds and shapes, including electrical, construction, engineering, chemical, agricultural, medical, health supplies, and cars.”

He added, "The volume of annual imports reaches no less than 50 billion dollars."

He continued, “Iraq imports from the countries: Jordan, Turkey, Iran, Saudi Arabia, the Emirates, China, India, Japan, Brazil, the United States, and a number of European countries   link

Tishwash:  Billion Dollar Ambition.. Iraq Provides Facilities to Egyptian Companies and a Delegation from Them to Visit Baghdad Next Month

Egypt aims to increase the volume of trade exchange with Iraq by about 41% to one billion dollars during the coming year, compared to 707 million dollars annually, according to an Egyptian government official, at a time when major Egyptian companies expressed interest in investing in several sectors there in a meeting with Prime Minister Mohammed Shia al-Sudani.

The official's statements came hours after Prime Minister Mohammed Shia'a's visit to Egypt, where he met with a group of businessmen representing major Egyptian companies, who expressed their readiness to work in Iraq in various fields, especially the development road project, pharmaceutical industries, hospitals, infrastructure, and construction industries, according to a statement issued by the Prime Minister's Office.

Al-Sudani pointed out during the meeting that “the doors are open to Egyptian businessmen and companies, whose presence in Iraq is important to us, due to their successful experiences, and within a political direction to lead the two countries towards more cooperation and integration,” according to the statement.

The government official added that according to the latest statistics, the value of Egyptian exports to Iraq amounts to about $700 million annually, while the value of imports from Iraq does not exceed $7 million.

In contrast, an Egyptian delegation headed by Deputy Prime Minister and Minister of Industry and Transport Kamel El-Wazir intends to visit Iraq on September 9, with the aim of completing procedures for strategic partnerships between Egyptian and Iraqi companies, and with the Iraqi government, according to what was revealed by Alaa Ezz, Secretary-General of the Federation of Egyptian Chambers of Commerce.

Ezz added that the meeting with Al-Sudani, which included representatives of several companies including Hisham Talaat Moustafa, Hassan Allam, Orascom and El-Sewedy, witnessed the presentation of “the contribution of Egyptian companies to the infrastructure in the field of housing and construction in Iraq,” adding: “We asked the Prime Minister to deal with Iraq as a partnership and not as a labor market, meaning that Egyptian factories will manufacture production requirements in Iraq, either by acquiring their troubled factories or partnering with them to operate them.”

Pharmaceutical Partnership

Ezz explained that they also asked the Iraqi Council of Ministers to establish a partnership between the two countries in the field of medicines in stages, by establishing Egyptian factories to produce medicines, adding that Iraq imports 90% of its medicine needs, worth 3 billion dollars, revealing that the Iraqi side promised to issue government guarantees to Egyptian companies that will operate in Iraq.

This is not the first time that Egyptian companies have expressed a desire to work in Iraq. Last June, two Egyptian sources said that the Iraqi Ministry of Health was holding talks with Egyptian contracting companies to participate in the implementation and rehabilitation of 12 hospitals in the country with a total investment of $480 million.

Role of contracting companies

In addition to the pharmaceutical sector, Egyptian contracting companies are moving towards expanding their business abroad and seizing business in countries that are allocating billions in investments for reconstruction and development, especially Iraq and Libya.

Iraq needs $88.2 billion to implement reconstruction projects inside the country, which witnessed great destruction during the war against ISIS, according to previous statements by the Iraqi Ministry of Planning.

Tarek Shukry, head of the Real Estate Development Chamber at the Federation of Egyptian Industries, said that the Iraqi Prime Minister addressed his country’s need to build 2.5 million housing units, and implement other projects in the fields of infrastructure, water, roads and utilities.

Shoukry added that the Egyptian Minister of Investment and Industry will be a link between Iraq and Egyptian businessmen, especially with regard to the details of the required investment projects, land locations, offering systems, methods of granting them, financial transfers, granting visas, and other important matters for investors.

Shoukry said that the Iraqi Prime Minister promised to send all the details of the projects within two weeks.  link

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Tishwash:  OPEC Secretary General arrives in Baghdad

The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, arrived in Baghdad on Wednesday.

The official spokesman for the Iraqi Ministry of Oil said in a statement today, August 28, 2024, "The Secretary-General of the Organization of the Petroleum Exporting Countries, Haitham Al-Ghais, arrived in Baghdad on a two-day visit."

He added, "The visit comes within the framework of bilateral communication on developments in the oil market, in addition to enhancing and expanding the horizons of cooperation in the Organization of the Petroleum Exporting Countries (OPEC) and OPEC Plus."

The ministry spokesman said, "Al-Ghais's visit schedule includes meeting with the Iraqi Oil Minister and a number of Iraqi officials."

Sabah Subhi, a member of the Oil and Gas Committee in the Iraqi Parliament, had previously told Kurdistan 24, “Iraq has exceeded its share of oil exports in OPEC, and must reduce its exports next year. Therefore, Iraq is obstructing all attempts to resume the export of oil from the Kurdistan Region.”

Sabah Subhi added, "The Iraqi Ministry of Oil is obstructing all attempts to resume the export of oil from the Kurdistan Region."

He explained that "Iraq exceeded its share of oil exports in OPEC by 1.4 million barrels out of the 3.6 million barrels allocated to it," adding that "OPEC has repeatedly warned Iraq against exceeding its share of oil exports."

As of March 25, 2023, crude oil exports from Kurdistan fields and Kirkuk province to Turkey via the Turkish port of Ceyhan have been halted.

In addition to suspending all oil activities of foreign companies operating in Kurdistan fields, after the decision of the International Arbitration Court in Paris that these exports are illegal.

This decision comes as a result of a lawsuit filed by the federal government against Turkey at the International Court of Arbitration in Paris in 2014, due to its allowing the flow of Kurdistan oil into its territory and its export without Baghdad’s approval.

According to an agreement concluded between Baghdad and Ankara in 2010, the State Oil Marketing Organization (SOMO) is the only entity authorized to export, market and sell Iraqi oil in global markets.

Kurdistan used to export 450 thousand barrels daily to Turkey, to secure the salaries of its employees and its financial revenues, due to the absence of an oil and gas law regulating the management of oil wealth in Iraq.

On April 4, 2023, Erbil and Baghdad reached an interim agreement until the Iraqi parliament passes the oil and gas law.

This agreement stipulated that the Kurdistan government would hand over 400,000 barrels per day to SOMO, form a joint four-party committee to oversee the sale of oil in global markets, open an independent account at the Central Bank to deposit financial revenues, and appoint a representative from the regional government as Deputy Director General of SOMO.  link

Mot: ... It sure is 

Mot .... Just Saying !!!! 

Iraq News Highlights and Points To Ponder Tuesday Evening 8-27-24

Revealing The Main Currency Used In Iran's Trade With Iraq

Economy  2024-08-27 |1,414 views  Alsumaria News – Economy  Shaaban Forotan, a member of the Board of Directors of the Joint Iranian-Iraqi Chamber of Commerce, revealed today, Tuesday, that the largest part of trade between Iraq and Iran, at the level of traders and exporters, is carried out through the Iranian riyal.

"Most Iranian exporters now work in riyals in trade with Iraq, and financial transactions between the two countries will continue without using the Iranian riyal, i.e. also in dollars. This does not mean the complete elimination of the dollar, but a large portion of traders conduct their transactions without the dollar," Forotan said in statements to Iranian media.

He explained that "the commitment to trade in dollars does not include all product groups, but the exchange of riyals into dollars cannot be implemented due to sanctions imposed on banks, and riyal traders earn from selling goods in the Iraqi market through their contacts with the stock exchanges of Iraq and Iran or a third country such as the United Arab Emirates, and they do not have the possibility of direct settlement."

He pointed out that "the supply of Iranian goods faced a problem in the Iraqi market, which is the multiple increase in the prices of goods in Iran during the year, while prices are expected to increase only once a year."  LINK

1329 People Arrested For Manipulating Food Prices And The Dollar

Iraq  2024/08/27  The number of those arrested by the Ministry of Interior who manipulated food prices and the dollar reached 1,329 suspects during the first quarter of 2024.

This was reported by the official spokesman for the ministry, Brigadier General Muqdad Miri, explaining to “Al-Sabah” that the arrest operation was carried out by teams from the Organized Crime Directorate, which launched campaigns since the beginning of 2024 to limit the rise in food prices and those who manipulate them, due to its great impact on people with limited income, stressing the continuation of the campaigns in Baghdad and the governorates.

He explained that among the activities carried out by the Organized Crime Directorate is the detection of unlicensed medical clinics and laboratories, especially since recently, a large spread of these clinics has been observed, noting that the Directorate's teams were able to arrest 628 suspects working in unlicensed medical clinics, pharmacies and laboratories, while the number of those arrested for working illegally in beauty and tattoo centers reached 237 suspects during the first half of 2024.

Miri stressed that protecting the national product is the responsibility of the ministry, noting that the Organized Crime teams are carrying out continuous campaigns to ensure that the national product does not violate health and environmental instructions, and that the number of those arrested for violating these instructions is 505 suspects during the current year.   https://alsabaah.iq/101703-.html

1329 Price Manipulators Arrested

First  2024/08/27  The number of those arrested by the Ministry of Interior who manipulated food prices and the dollar reached 1,329 suspects during the first quarter of 2024.

This was reported by the official spokesman for the ministry, Brigadier General Muqdad Miri, explaining to “Sabah” that the arrest was carried out by teams from the Organized Crime Directorate, which launched campaigns since the beginning of 2024 to limit the rise in food prices and those who manipulate them.   https://alsabaah.iq/101722-.html

Former MP: Black Money Is The Most Important Factor In The Rise Of Real Estate In Iraq

Economy    Information / Baghdad   MP Ayoub Al-Rubaie confirmed on Tuesday that what he called “black money” is the most important factor that led to the rise in real estate prices in Iraq.

Follow "Al-Maalouma" channel on Telegram.. News that does not need verification..

Al-Rubaie told Al-Maalouma Agency, "Corruption is eating away at Iraq's institutions, and has made some influential people enjoy obscene wealth by consuming public money."

He added, "A not insignificant portion of the black money went to buy real estate in city centers, including Baghdad, which led to a crazy rise in real estate prices."

He explained that "real estate prices in some areas of Baghdad are the highest in the Middle East."

He pointed out that "the implementation of the 'Where did you get this from' law must receive attention because it is the beginning of exposing the corrupt and protecting public money." LINK

Economist: Iraq Stock Exchange Suffers From Lack Of Liquidity

Stock Exchange      Economy News – Baghdad  Economic expert, Saif Al-Halfi, confirmed that the Iraqi Stock Exchange is currently suffering from a lack of liquidity, due to the weak confidence of foreign investors in the Iraqi market.

Al-Halfi told Al-Eqtisad News that the Iraqi stock market suffers from a lack of liquidity, as trading rates are still relatively low compared to other markets in the region, noting that the daily trading volume may reach 3 billion dinars per day in the best case.

He stressed that the market value of the companies listed on the market exceeds 12 trillion dinars.

Most listed companies are seeing their shares decline as a result of lower demand and the exit of a number of foreign investors from the market.

Al-Halfi pointed out that foreign investors' confidence in the Iraqi market is still low due to unstable political and economic factors, as well as the lack of legal and procedural facilities for opening accounts for foreign investors, in addition to the weakness of the infrastructure in electronic trading.

  He pointed out that the lack of technology and modern financial infrastructure, including digital banking services and advanced electronic trading platforms, affects the efficiency of the market and its ability to attract investors, and that the development of the banking system will be positively and directly reflected in the development of the performance of market indicators.

Al-Halfi stressed the government's role in promoting the stock market through economic reforms, supporting small and medium enterprises, and encouraging foreign investments.

Al-Halfi concluded his speech by saying that the Iraqi stock market reflects a complex reality that can be described as a mixture of pain and sadness as a result of the great challenges it faces, with some opportunities for joy and profits if the economic and political conditions improve. 90 views 08/27/2024 - https://economy-news.net/content.php?id=46789

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 8-27-24 Part 2

Good Afternoon Dinar Recaps,

RIPPLE NEWS: Russia to Begin Trials of Crypto Payments and Exchanges on September 1—Will They Use XRP?

▪️Russia is set to start a trial for cross-border payments in digital tokens in September to ease the pain of crippling sanctions, sources tell Bloomberg.

▪️Only a scalable blockchain network with low fees and real-time transactions can serve the country, which has over 144 million residents, making XRP one of the best candidates for the role.

Since the conflict with Ukraine started, Russia has become the world’s most sanctioned nation. For months, the government has relied on short-term fixes, which have helped prop up the ruble and keep the financial system afloat.

However, the weight of global isolation is catching up with Russia, and sources now say that the government is exploring crypto.

According to sources who spoke to Bloomberg, Russia intends to start the trial on Sunday. It will rely on its National Payment Card System to facilitate the swap between the country’s ruble and crypto tokens.

The system was created in 2014 to provide faster and cheaper payments for Russians. Today, it underpins the country’s interbank payment systems and the Mir, the national card payment network.

According to the two sources, the government picked the system as it already contains instant payments and features like interbank clearing, making it easier to integrate with all existing financial rails. The system is also operated and regulated by the central bank, giving the government added confidence.

The move, which hasn’t been made official or public at press time, is no surprise. President Vladimir Putin’s administration has been softening its stance on crypto in recent months. 

Last month, legislators legalized crypto mining in the country, as we reported. The lawmakers also laid the groundwork for the testing of digital tokens for payments.

Two weeks ago, Finance Minister Anton Siluanov revealed that the government was working on legalizing crypto exchanges. However, he clarified that suitable regulations had yet to be formulated to make this possible.

“We haven’t found a solution yet on how to do this,” he said.

Crypto to Evade Crippling Sanctions—Does XRP Offer the Best Alternative?

Crypto might be Russia’s best to evade sanctions. While these sanctions encompass every fabric of the country’s economy, Western nations have mainly targeted Russia’s money, seeking to limit the country’s ability to send or receive money.

According to the BBC, the sanctions have frozen around $350 billion of Russia’s foreign currency (which accounts for half the country’s total reserves). 70% of the country’s banks have been frozen from the global economy, including being restricted from SWIFT.

Crypto offers a decentralized option whose access can’t be restricted by centralized entities, and sanctioned countries, including China, Russia, Iran, and Venezuela, are increasingly exploring it as an option.

Of the 10,000+ cryptos that Russia can turn to, XRP offers the best alternative. For one, XRP is already a massive player in the global movement of money, with its products and networks being integrated by some of the world’s largest financial institutions.

In some countries like Japan, over 80% of the banks are working on integrating crypto. Its low fees, instant transactions, and robust ecosystem make it superior to its peers.

XRP trades at $0.5913, losing 0.6% in the past day.

@ Newshounds News™

Source:  CRYPTO NEWS FLASH

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China considers sanctions against its companies due to ties with Russia illegal

According to the statement, such actions by Western countries "meet their egoistic interests, though [they] are not based on facts, with the international community not to accept them at any time"

BEIJING, August 27. /TASS/. Beijing considers unilateral sanctions imposed by the US and its allies against Chinese enterprises for suggested ties with Russia illegal, special envoy of the Chinese government Li Hui told a briefing following the fourth round of shuttle diplomacy on discussion of the conflict in Ukraine with Brazil, Indonesia and South Africa.

"Some countries take advantage of the crisis, winning their allies over to their side and continuing shifting responsibility [for the crisis]. Moreover, they are trying to throw around words on China’s responsibility," he said. "Using illegal unilateral sanctions, they threaten normal trade with Russia," Li Hui added.

Such actions by Western countries "meet their egoistic interests, though [they] are not based on facts, with the international community not to accept them at any time," he stressed.

After the beginning of the special military operation in Ukraine the US and the European Union imposed a number of sanctions against Chinese enterprises for allegedly supporting Russia’s defense industry. Beijing rejects those accusations, noting that they are unfounded.

Li Hui visited Brazil, Indonesia and South Africa from July 27 to August 8 for discussing the Ukrainian crisis.

@ Newshounds News™

Source:  TASS

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Listen and learn from this man. He has facts and shares with us as we all wait. Share with others!

August 28, 2024 12:00 Central Noon, 1 PM ET

Listen Here - Podcast Room https://t.me/+VAm-AlWWqWPzyK8G

Replays - YouTube Currency Facts - YouTube

Ask your questions in the Living Room: Link Directly from Isaac when ask for a bio

“But understand I do not have contacts. Isaac

"I have buyers the us treasury , DOD , Admiral , HSBC several big platforms that I have signed contracts with all and they paid already for the inspection several times" Isaac

Take a look at Isaac's Photos of His Currency  LINK

@ Newshounds News™

Source:  Isaac's Call

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If Telegram should suddenly close we will use the following to keep everyone informed.

➡️ Website Forum Link 
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@ Newshounds News™

Source:  SOWT 

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BRICS NEWS: Payments in Chinese Yuan Overtake US Dollar by 2.5%, Crypto Payments Next?

▪️ The Chinese yuan’s profile in global payments and trade is rising, overtaking the US dollar as the most used currency in cross-border payments in China.

▪️ It’s also making a mark in other countries and was the most traded currency on Russia’s Moscow Exchange last year.

The US dollar has dominated global commerce for decades, and today, it accounts for around 60% of all global currency reserves. However, the tide could be slowly turning as more countries recognize the power that a currency wields and seek to prop up their own.

One of the leading contenders is China’s yuan, officially known as the renminbi. While China is the world’s second-largest economy and the nexus of global manufacturing, its currency has failed to keep up with the country’s ascent since the turn of the millennium.

The yuan has failed to rival the USD and has even fallen behind the euro, sterling pound, and the Japanese yen.

However, global political realignments are changing the currency landscape. China is now closer than ever to Russia and has even courted other major economies as members of BRICS, including Brazil, India, the UAE, Egypt, and South Africa. 

These nations are collectively against the USD’s domination and have been working on a blockchain-based alternative, as we have reported.

This solution could take a bit longer, as some of the BRICS leaders have admitted, and in the meantime, China’s yuan looks like the de facto currency of choice.

The Yuan Gains Ground—Is Crypto Next?

Last year, the yuan overtook the USD in cross-border commerce for the first time ever in China, accounting for 48%, while the dollar hit 46.7%. This was seen as a significant event that ushered in a new era of de-dollarisation for Asia’s largest economy.

It doesn’t end there. By the end of 2023, the yuan emerged as the most traded currency on the Moscow Exchange. It accounted for 42% of the trades, edging the dollar’s 39.5%, as reported by Reuters and other local Russian outlets. Yuan volume tripled to 34.15 trillion rubles ($385 billion), while that of the USD dipped.

This trend is bound to only get stronger. For one, Russia, China, Iran and several Middle-Eastern nations that are warming to BRICS are subject to sanctions from the US and its allies in Europe and Asia. Russia, in particular, is now the most sanctioned nation in history. This has denied its banks and payment systems access to the global payments grid.

Russia has been experimenting with crypto as a go-around, as we reported. However, in cross-border trading with allies like China, the yuan and ruble are more suited.

The USD isn’t going to be threatened overnight. America is still the world’s largest economy, and the country enjoys the support of Europe and some of Asia’s largest economies, including Japan and South Korea.

However, de-dollarisation is certainly on course. And once the greenback is out of the picture, the yuan could become one of the key players. Gradually, crypto could also play a much more significant role, especially if China changes its stance against crypto, as has been reported.

@ Newshounds News™

Source:  Crypto News Flash

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Economist’s “News and Views” Tuesday 8-27-2024

BRICS Launches Intrabank System: Disruption of Western Finance System?

Fastepo:  8-27-2024

Over the past month, BRICS has seen substantial developments that underscore its growing influence on the global stage, from financial banking system to group expansion.

As of August 2024, around 40 to 47 countries from various regions, including Africa, Asia, and South America, have expressed their desire to join BRICS.

 This interest is fueled largely by the bloc's potential to challenge the current global economic order, which is heavily dominated by Western institutions like the IMF and World Bank. Many of these nations are seeking to diversify away from reliance on the U.S. dollar, as they perceive this dependency to pose significant risks to their economies, especially considering potential U.S. economic downturns.

 In parallel to its membership expansion, BRICS is advancing initiatives to create alternative financial systems.

 For example, the BRICS New Development Bank has approved 98 infrastructure projects totaling $33 billion since its inception, positioning itself as a credible alternative to Western-dominated financial institutions. Additionally, the group is working towards an intra-bank payment system, aimed at reducing reliance on the dollar in cross-border transactions, which is seen as a key step toward de-dollarization.

 In this video, we take you through the latest development of BRICS as of August 2024.

https://www.youtube.com/watch?v=OpvUi03A0q0

China & Japan Just Ditched All US Imports!

Tech Beat:  8-27-2024

In this video, we look at the dramatic shift in global trade dynamics as China and Japan make the courageous decision to severely decrease, and in some cases altogether halt, their imports from the United States.

This development marks a watershed moment in the economic connections between three major world powers, raising critical questions about the future of international commerce.

We look at the reasons behind this abrupt choice, such as continued trade disputes, geopolitical strategies, and China and Japan's growing push for economic self-reliance.

 We also look at the potential ramifications for the global economy, particularly for industries and firms that have long relied on strong trade relations between the United States and these two Asian powerhouses.

Furthermore, we will examine the ramifications for the United States and its role in the global market.

Could this signal the start of a larger move away from US economic influence? How will this affect consumers, businesses, and the entire economic landscape?

 Join us as we dissect the data, share expert perspectives, and examine the larger implications of this significant development.

https://www.youtube.com/watch?v=37MWwol1-_U

A Huge Bombshell is About to Hit U S Banks in a Massive Way

Atlantis Report:  8-27-2024

The aftermath of an aggressive tightening cycle, marked by historic interest rate hikes, is giving way to a new phase that could see the Federal Reserve resorting to rate cuts. However, conflicting signals and uncertainties surrounding the timing of these rate cuts are raising concerns among investors.

Against this backdrop, the banking sector is grappling with significant risks, and it appears that a huge bombshell is about to hit US banks.

https://www.youtube.com/watch?v=oKeQqKzd-2g

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 8-27-24

Good Afternoon Dinar Recaps,

RIPPLE Partner Nium Adopts JP. Morgan Payments: Is an XRP integration in the Works?

▪️J.P. Morgan discloses that Nium made a breakthrough in its global expansion following a strategic partnership that made its real-time solutions available for use.
▪️Nium operates in more than 220 countries, and its cards are issued to more than 30 countries globally.

Ripple’s partner, Nium, known for seamless real-time cross-border payments for financial institutions worldwide, earlier sealed a strategic partnership with J.P Morgan Payments.

According to reports, this development has enabled the Singapore-based fintech to navigate the complex regulatory structure in Asia Pacific that initially acted as a headwind against its expansion.

As multiple sources have captured, Nium leverages J.P. Morgan Payments customized solutions, including real-time and automated cross-currency solutions, to offset the foreign exchange risk associated with its cross-border and cross-currency transactions.

According to Nium, the provided solutions have helped it address the issue of exchange rate fluctuation and long-term shifts, which threatened its financial stability, customer demand, and profitability.

Nium has also been assisted in optimizing its banking set-up to experience the necessary upgrade critical for its expansion. Most importantly, this was achieved by capitalizing on JP Morgan’s global infrastructure and resorting to local best practices.

More on the Impact of J.P Morgan on Nium

Commenting on this, the Head of Compliance APAC, Nium Joey Tang, explained how J.P. Morgan’s experience has been crucial in its journey to the top.

We need a trusted bank that can help us navigate through complex currency restrictions and provide scalable solutions that can be easily extended to new markets. This gives us the flexibility to grow our business. J.P. Morgan Payments is our natural choice.

An official report was found on the JP. Morgan’s website mentions that the collaboration has enabled Nium to witness unimaginable expansion and growth, as it operates in more than 220 countries.

 Also, it has issued cards to over 30 countries so far. In the future, Nium, assisted by JP. Morgan, would solve its existing payment challenges and unlock the full potential of the global economy.

Also, the possibility of Nium going public, as we reported last year, is still high as the company records growth in several areas of its operation.

According to Anupam Pahuja, the EVP and General Manager of APAC & MEA, Nium, the company would continue to expand as long as it closely collaborates with the bank.

Nium has grown rapidly in recent years, and we’re excited to continue expanding globally with J.P. Morgan Payments as our trusted ally.

Following this publication, XRP enthusiasts have rekindled hopes that the popular bank could collaborate with Ripple to expose the asset to similar breakthroughs.

Long time #Ripple partner Nium has begun using JPMorgan Payments to better serve their customers with collections and global FX rails. This would seem to be an alternative to #Ripple products or perhaps just additional rails for Nium’s platforms.

Last year, a JP. Morgan’s report captured how banks could leverage Central Bank Digital Currencies (CBDCs) for corporate purposes. The report highlighted Ripple, SWIFT, and the CLS Group as the entities that address the issues of such payments and delays.

Specifically, the bank acknowledged the real-time nature of the cross-border payment infrastructures that use XRP as a settlement instrument. However, it highlighted the inherent volatility issue of Ripple’s system.

High volatility of XRP leading to limited willingness from banks in using it to facilitate payments.

@ Newshounds News™

Source:  Crypto News Flash

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MOSCOW TO HOST 6TH INTERNATIONAL MUNICIPAL BRICs FORUM

MOSCOW, August 27. /TASS/. The 6th International Municipal BRICS Forum will be held in Moscow’s Expocenter on August 27-28, 2024, the press service of the Moscow Department of Foreign Economic and International Ties said.

"The forum will be the largest international floor, where representatives of government authorities and the business will share the advance experience and discuss key issues of municipal cooperation," the press service said.

Delegations from 126 countries are expected to take part in the forum along with representatives of Russian regions. More than 5,000 participants from 500 cities of the world will discuss:

▪️current economic problems
▪️digital technology spheres
▪️environment
▪️municipal infrastructure
▪️transport
▪️healthcare
▪️education
▪️culture

@ Newshounds News™

Source:  TASS

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The Secret To America's Takedown - Economic Ninja|  Youtube

@ Newshounds News™

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Lynette Zang’s Ultimate Warning To SILVER Stackers! |  Youtube

Good video on the value of owning Gold and Silver.

@ Newshounds News™

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Listen and learn from this man. He has facts and shares with us as we all wait. Share with others!

August 28, 2024 12:00 Central Noon, 1 PM ET

Listen Here - Podcast Room https://t.me/+VAm-AlWWqWPzyK8G

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Ask your questions in the Living Room: Link Directly from Isaac when ask for a bio

“But understand I do not have contacts. Isaac

"I have buyers the us treasury , DOD , Admiral , HSBC several big platforms that I have signed contracts with all and they paid already for the inspection several times" Isaac

Take a look at Isaac's Photos of His Currency  LINK

@ Newshounds News™

Source:  Isaac's Call

~~~~~~~~~

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Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Tuesday Morning 8-27-24

The Prime Minister's Advisor announces the imminent launch of new tax reform packages
  
Balsam Hameed   Today, Monday, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, announced the most prominent government steps in maximizing non-oil revenues, while indicating the imminent launch of new tax reform packages.
 
Saleh said, to the official agency followed by (Al-Oula News):
 
“One of the basic principles that came in the government’s approach to financial reform and which was approved by the House of Representatives in October 2022 is to maximize non-oil resources in the general budgets of the Republic of Iraq, for which goals were set.”

An amount in order for its contribution to the total revenues generated by non-oil economic activity to increase to 20 percent instead of its historical rates, which do not exceed 10 percent in the best cases.” 

 He added,  “Diversifying sources of non-oil revenues and maximizing them in public budgets is one of the biggest reform challenges in the financial and economic fields in the country.” 

He pointed out,  “These challenges come from two main factors:
 
The first is the degree to which diversification of budget resources is linked to the success of diversification in the country’s gross domestic product, especially the three agricultural, industrial, and service sectors.”  

He stated,   “The oil production sector still dominates a percentage of the components of that gross domestic product, which sometimes reaches 60 percent, which gives the national economy a rentier character and direct coexistence on the financial flows provided by the oil resource mostly alone.”

He added,  “The second factor among these challenges is related to non-governmental activity in generating gross domestic product, and we specifically mean market activity or the private sector.” 

He continued,  “The majority of the economic forces that generate income and wealth within market activity carry out their economic activities within the framework of the so-called (shadow economy), which are (gray) markets that are irregular and not known to the regulatory, tax and banking bodies as is known, and their percentage amounts to about 70 percent.” Of the total private sector activity in the country. 

He stressed that   “gray or shadow markets are one of the most important basic factors causing the decline in non-oil revenues in the country’s general budget.”  

He pointed out that   “the first step taken by the current government in maximizing non-oil revenues began by adopting a new approach to tax reform,” noting that
 
“the Council of Ministers approved earlier this year 8 new packages to reform the tax system in the country, led by the principle of expanding tax bases.”

He stressed by saying:  “Two tax reform packages have been launched, and the
 
rest of the packages will be launched sequentially and gradually
 
within the government’s reform policy in the financial field and maximizing the state’s resources from sources of income and wealth from outside the oil sector, as this is accompanied by
 
 administrative and legislative reform and high-precision digital governance of tax institutions in areas of appreciation and collection with high transparency and efficiency.”  https://www.awla.news/مستشار-رئيس-الوزراء-يعلن-قرب-إطلاق-حزم/   

Minister of Finance stresses the importance of completing plans to regulate the work of the government banking sector

Money and business   Economy News – Baghdad  Finance Minister Taif Sami stressed, on Tuesday, the importance of completing plans to regulate the work of the government banking sector.

A statement by the ministry, seen by Al-Eqtisad News, said that "Minister of Finance Taif Sami chaired a coordination meeting with the international auditing and oversight firm Ernst & Young to follow up on the ongoing technical plans to merge and organize the work of Rafidain and Rasheed banks and insurance companies."

It added, "During the meeting, which was attended by a number of the ministry's general managers and formations, a report was presented by the auditing firm on the final stages of its work regarding organizing the work of the government banking sector, in addition to discussing the proposed plans and final implementation stages in line with the priorities of reform and development."

The Minister of Finance stressed - according to the statement - "the importance of implementing these procedures to contribute to enhancing confidence in the banking system and providing a stable financial environment that supports economic growth, which is positively reflected on the national economy in general and achieving sustainable development and stimulating growth in various sectors."

Sami explained, "The importance of benefiting from the expertise of solid international companies such as Ernst & Young in the field of regulating and restructuring financial institutions, as the ministry aims to make Iraqi banks internationally and locally acceptable to provide better services to citizens.

The auditing company's expertise will also contribute to improving the efficiency and effectiveness of financial institutions, as it is expected that merging and regulating financial institutions will improve the quality of banking services provided and enhance investor confidence in the Iraqi economy."

The statement continued, "Iraq is witnessing transformations in the government banking sector through the adoption of ambitious work programs to restructure government banks, aiming to enhance the efficiency of these banks and improve their services provided to citizens and companies and strengthen financial suitability by increasing capital and diversifying sources of income,

 in addition to improving governance by applying high standards of transparency and accountability and adopting the latest banking technologies to provide more efficient services, as well as increasing confidence in the banking sector and thus attracting foreign investments." 32 views 08/27/2024 -    https://economy-news.net/content.php?id=46822

Dollar Prices Continue To Decline Against The Dinar In Baghdad

Stock Exchange  Economy News – Baghdad  The US dollar exchange rate fell on Tuesday morning in Baghdad markets.

The dollar prices witnessed a decline with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 149,000 Iraqi dinars for every 100 dollars, while yesterday, Monday, it recorded 149,350 dinars for every 100 dollars.

The selling prices in the exchange shops in the local markets in Baghdad recorded a decrease, as the selling price reached 150,000 dinars, while the purchase price reached 148,000 dinars for every https://economy-news.net/content.php?id=46792

Al-Araji From Brussels: NATO's Mission In Iraq Is Advisory, Not Combat

Tuesday 27 August 2024 17:51 | Politics Number of readings: 75  Baghdad / NINA / National Security Adviser Qasim Al-Araji reiterated the Iraqi government's confirmation that NATO's mission in Iraq is an advisory mission and not a combat mission.

The National Security Advisory said in a statement: "Iraq and NATO held, today, Tuesday, the first session of the High-Level Partnership Dialogue at the alliance's headquarters in the Belgian capital, Brussels."

According to the statement, a high-level official Iraqi delegation headed by National Security Adviser Qasim Al-Araji participated in the dialogue, while the side representing NATO was headed by Assistant Secretary-General for Operations and Special Coordinator for Counter-Terrorism Tom Govas, and the Secretary-General's Representative for Southern Neighborhood Affairs Javier Colomina.

The dialogue, which came at the invitation of NATO, discussed ways to enhance the partnership between Iraq and the alliance, including completing the capacity building of Iraqi security forces and other issues related to border security, combating drugs and terrorism, and the file of the Syrian Al-Hawl camp.

During the dialogue, Al-Araji reiterated the Iraqi government's emphasis that NATO's mission in Iraq is an advisory mission and not a combat mission, stressing: "The long-term partnership with NATO is to achieve Iraq's interests, fight terrorism, and develop and rehabilitate the capabilities of the Iraqi forces," stressing the importance of continuing dialogue and partnership with NATO, to achieve Iraq's interests, security and stability.

In a speech on the sidelines of the dialogue, the National Security Advisor referred to Iraq's position rejecting the killing and starvation taking place in the Gaza Strip, and that there is no security or safety except with the existence of an independent Palestinian state, stressing the importance of adopting the principle of dialogue and diplomatic channels as a way to resolve international crises and conflicts.

For their part, NATO representatives praised Iraq's pivotal role and its importance in enhancing the security and stability of the region, expressing the alliance's readiness to increase cooperation and enhance the defense capacity building package agreed upon between the two sides.

Al-Araji also extended an official invitation to NATO representatives to hold the second session of the High-Level Partnership Dialogue in the capital, Baghdad, next year. /End9 https://ninanews.com/Website/News/Details?key=1150108

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Tuesday Morning 8-27-24

Good Morning Dinar Recaps,

Cardano Founder Hints at New ‘Partner Chain’ Collaboration with Algorand: What’s Next for ADA?

▪️ Charles Hoskinson, Cardano’s CEO, praised Algorand’s blockchain technology and suggested a partnership for decentralized AI projects.

▪️ The much-anticipated Cardano Chang hard fork has been delayed to September 1, causing concerns within the community.

Cardano CEO Charles Hoskinson has expressed a strong interest in Algorand’s blockchain technology, suggesting a potential collaboration focused on decentralized artificial intelligence (AI) initiatives.

This potential collaboration can yield a lot of benefits for both Cardano and Algorand in the growing AI market.

Algorand has been receiving a lot of attention lately, and this has led Charles Hoskinson to express his opinion on the project. Furthermore, he stated that Algorand, in conjunction with a tailored proof of work suitable for AI tasks, could be a promising decentralized AI platform within the crypto market. 

This recognition from Hoskinson highlights the strategic value he sees in Algorand’s technology, particularly in its application to AI-driven projects.

Hoskinson also suggested that Algorand could be a partner chain to Cardano, a partnership he thinks can harness the full potential of Minotaur, Cardano’s proof-of-stake/proof-of-work multi-asset consensus protocol.

Such a partnership could open up new avenues of benefits that would improve blockchain networks, foster innovation, and increase its application in the sphere of AI.

Algorand CTO Responds Positively to Collaboration Proposal

In response to Hoskinson’s statements, Gary Malouf, the Chief Technical Officer of Algorand Technologies, expressed his interest in the cooperation.

Malouf pointed out that previous conversations about the integration of AI capabilities have taken place, which means that there is some level of coordination between the two blockchain networks.

In response to this exchange, Hoskinson told IOHK’s Chief Technology Officer, Romain Pellerin, to arrange a meeting to discuss the proposed collaboration. Pellerin agreed excitedly, saying that it would be great to have Algorand as a partner chain.

Although this partnership is currently nascent, the conversation between the two blockchain pioneers suggests that the partnership between IBM and Microsoft could lead to a significant integration of AI and blockchain.

Chang Hard Fork Experiences Another Delay

In another major event, the long-awaited Cardano Chang hard fork has again been delayed, with a new expected launch on the 1st of September. As we previously reported, the initial plan was to take place on August 27, but this shift has caused some concern among the Cardano community.

The Chang hard fork is a vital upgrade that will change the face of Cardano’s governance model, signifying the start of the Voltaire era and paving the way for a completely decentralized and autonomous network.

Charles Hoskinson complained about the delay, mentioning that even large exchanges like Binance have not yet announced their support for the upgrade. He especially stressed the need to adhere to the timelines, saying that all the parties should hasten their work.

In addition to the hard fork, there has been a lot of development activity in the project recently, even more than Ethereum in terms of GitHub pull requests.

This rise in activity is in line with the ongoing development of the Cardano ecosystem, whereby the developers are still working on new upgrades and projects whose intention is to improve the network.At the time of writing,

ADA was trading at $0.379, marking a 2% increase over the past 24 hours.

@ Newshounds News™

Source:  Crypto News Flash   

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Russia plans stablecoins, 2 crypto exchanges to circumvent sanctions

Last week Russian news outlet Kommersant reported on the planned creation of two cryptocurrency exchanges for foreign payments to circumvent sanctions, citing sources.

The aim is to create stablecoins for the Chinese yuan and a BRICS currency basket. It’s expected that initially individuals won’t be able to take part, given the goal is to support importers and exporters.

Russia passed legislation in late July allowing cryptocurrency exchanges to operate as part of cryptocurrency experimental legal regime (ELR) under a program developed by the central bank.

The use of stablecoins rather than un-backed cryptocurrencies makes sense given the central bank’s role.

UPDATE:  shortly after publication, Bloomberg said that preliminary tests start this weekend, citing sources. These trials will use the National Payment Card System to swap rubles for any cryptocurrencies using an existing crypto exchange.

Use of the card system gives the central bank oversight. The outcome of these preliminary tests will determine steps around the potential creation of crypto exchanges next year, as described below. Bloomberg’s sources reiterated the same two exchanges.

The Kommersant article was a little controversial. It stated that one of the cryptocurrency exchanges might involve the Moscow Exchange. The other exchange will use the St. Petersburg Currency Exchange (SPCE) database for foreign economic activity.

While the currency exchange disputed this point, it would make sense to use its database, given the currency exchange knows the details of the importers and exporters. Interfax, the state news agency, published a report in which the St. Petersburg Currency Exchange (SPCE) strongly denied involvement.

The Moscow Exchange runs the main currency exchange, but trading in dollars and euros came to an abrupt halt in June when OFAC placed it on the sanctions list. Hence, it also has data on who might qualify as a professional for FX trading in stablecoins.

There may be some confusion between two entities that we suspect are not related. The sanctions and sanction busting sometimes resemble Whac-A-Mole. Every time Europe or OFAC sanctions an entity or methodology, Russia tries something else.

Russia has iterated through foreign branches, digital financial assets involving tokenized commodities, CBDC, crypto and others. The foreign branches are gradually getting sanctioned, with warnings not to open new ones. And most of the digital financial asset (DFA) issuing platforms and known cryptocurrency exchanges have also been sanctioned. Sanctions announced this week cover commodities.

Sanctions and two similar sounding Russian entities

There are two Russian entities with similar names. There is the Saint Petersburg Currency Exchange known in English as SPCEX or SPVB and in Russia as JSC SPB, versus the Saint Petersburg Stock Exchange (PJSC SPB). OFAC sanctioned the stock exchange in November 2023. We don’t think the currency exchange has yet been sanctioned directly, but there’s a caveat.

It is believed that state owned bank Promsvyazbank controls the currency exchange. The bank was one of the first on the sanctions list, which includes subsidiaries and hence the currency exchange.

However, as the ownership isn’t entirely clear, it’s conceivable the currency exchange may have been ignored so far. That may be why it doesn’t want to be associated with the crypto exchange.

Google translates the currency exchange acronym СПВБ as the Saint Petersburg Stock Exchange.

On the other hand, the sanctioned stock exchange is registered as a digital financial assets platform. In a May interview, its CEO said its involvement as a cryptocurrency exchange operator was under discussion. However, we believe it’s the currency exchange that has the useful data.

While the Russian end isn’t clear yet, nor is the other side. If Russia wants to use a Chinese currency stablecoin, what assets would form part of the reserves? Likely it will use the excess reserves Russia received for all payments.

Which cryptocurrency exchange will be used on the Chinese end? Will China allow some off-ramping from a stablecoin to the mainland? Or will it be via Hong Kong?

An even bigger question is this: in the absence of CBDC, could stablecoins form the interim foundation of the so-called BRICS Bridge for local currency payments?

@ Newshounds News™

Source:  Ledger Insights

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They Are Taking Our Silver  |  Youtube

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~~~~~~~~~

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“Tidbits From TNT” Tuesday 8-27-2024

TNT:

Tishwash:  Sudanese meets Sisi

Prime Minister Mohammed Shia Al-Sudani arrived at the Alamein Presidential Palace in Egypt.

He was received by the President of the Arab Republic of Egypt, Abdel Fattah El-Sisi, and they will discuss "the overall bilateral relations between the two countries, and the latest international developments in the region. He will also hold extensive discussions with his Egyptian counterpart on enhancing joint cooperation in various fields and sectors."

Al-Sudani arrived in Egypt this morning, accompanied by a ministerial delegation.  link

Al-Sudani begins official visit to Egypt and Tunisia

Prime Minister Mohammed Shia Al-Sudani began an official visit to the Arab Republic of Egypt and the Republic of Tunisia on Tuesday morning.

This came in a brief statement issued by Al-Sudani's media office without going into further details. link

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

Tishwash: Revealing the main currency used in Iran's trade with Iraq

 Shaaban Forotan, a member of the board of directors of the Iranian-Iraqi Joint Chamber of Commerce, revealed today, Tuesday, that the largest part of trade between Iraq and Iran, in terms of traders and exporters, is carried out through the Iranian riyal.

"Most Iranian exporters now work in riyals in trade with Iraq, and financial transactions between the two countries will continue without using the Iranian riyal, i.e. also in dollars. This does not mean the complete elimination of the dollar, but a large portion of traders conduct their transactions without the dollar," Forotan said in statements to Iranian media.

He explained that "the commitment to trade in dollars does not include all product groups, but the exchange of riyals into dollars cannot be implemented due to the sanctions imposed on banks, and riyal traders earn from selling goods in the Iraqi market through their contacts with the stock exchanges of Iraq and Iran or a third country such as the United Arab Emirates, and they do not have the possibility of direct settlement."

He pointed out that "the supply of Iranian goods faced a problem in the Iraqi market, which is the multiple increase in the prices of goods in Iran during the year, while it is expected that prices will increase only once a year   link

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

Tishwash:  Economist: Iraq Stock Exchange suffers from lack of liquidity

Economic expert, Saif Al-Halfi, confirmed that the Iraqi Stock Exchange is currently suffering from a lack of liquidity, due to the weak confidence of foreign investors in the Iraqi market.

Al-Halfi told Al-Eqtisad News that the Iraqi stock market suffers from a lack of liquidity, as trading rates are still relatively low compared to other markets in the region, noting that the daily trading volume may reach 3 billion dinars per day in the best case.

He stressed that the market value of the companies listed on the market exceeds 12 trillion dinars.

Most listed companies are seeing their shares decline as a result of lower demand and the exit of a number of foreign investors from the market.

Al-Halfi pointed out that foreign investors' confidence in the Iraqi market is still low due to unstable political and economic factors, as well as the lack of legal and procedural facilities for opening accounts for foreign investors, in addition to the weakness of the infrastructure in electronic trading.

  He pointed out that the lack of technology and modern financial infrastructure, including digital banking services and advanced electronic trading platforms, affects the efficiency of the market and its ability to attract investors, and that the development of the banking system will be positively and directly reflected in the development of the performance of market indicators.

Al-Halfi stressed the government's role in promoting the stock market through economic reforms, supporting small and medium enterprises, and encouraging foreign investments.

Al-Halfi concluded his speech by saying that the Iraqi stock market reflects a complex reality that can be described as a mixture of pain and sadness as a result of the great challenges it faces, with some opportunities for joy and profits if the economic and political conditions improve  link

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

Al-Mandlawi: Iraq focuses on the economic and investment aspect through concluding bilateral international agreements

Acting Speaker of the Council of Representatives, Mr. Mohsen Al-Mandalawi, confirmed today, Monday, that Iraq is focusing on the economic and investment aspect by concluding bilateral international agreements.

Al-Mandlawi's office said in a statement received by the Iraqi News Agency (INA), "Acting Speaker of Parliament Mohsen Al-Mandlawi met, at his residence today, Monday, with the US Deputy Ambassador to Iraq, and the Director of the Political Section at the Embassy, ​​Michelle Siders, and the accompanying delegation, to discuss a number of files of mutual interest, and to discuss the latest developments in the region."

He added that "during the meeting, the future of joint relations was discussed, and ways to develop them to serve the interests of the two friendly peoples, and the emphasis was placed on Iraq's keenness to establish balanced relations with its regional and international surroundings based on cooperation and mutual respect, and contributing to the country's growth and progress and achieving the people's hopes and aspirations."

Al-Mandlawi pointed out that "Iraq is currently looking forward, after the security situation has stabilized and ISIS gangs have been eliminated, to focusing on the economic and investment aspect through solid bilateral agreements and understandings capable of achieving comprehensive economic development in the country   link

Mot: things that make you go hmmmm 

Mot: Beeeeee Aware! - Just in Case!!!! 

MilitiaMan: IQD Dinar Update - Global Economics - Investments - Developments - Laws - Non - Oil Revenue - Water

IQD Dinar Update - Global Economics - Investments - Developments - Laws - Non - Oil Revenue - Water

MilitiaMan and Crew:  8-26-2024

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=TyNvf8WuyHE

Seeds of Wisdom RV and Economic Updates Monday Evening 8-26-24

Good Evening Dinar Recaps,

New Study Reveals How IOTA Technology Can Boost Security for Smart Homes and Protect IoT Devices from Cyberattacks

▪️ Ripple has minted the first 185 tokens of its RLUSD stablecoin onA new study by the University of Mosul details how IOTA improves security for smart homes to protect Internet of Things (IoT) devices from cyberattacks.

▪️ Ripple has minted the first 185 tokens of its RLUSD stablecoin onThe study proposes a new lightweight authentication model based on IOTA’s Tangle for an IoT-based smart house monitoring system.

We’re living in the era of the Internet of Things, with over 17 billion IoT devices today, a number that’s expected to double by the end of the decade. As the devices surge, so does the danger lurking from cyber criminals, and according to a new study, IOTA offers the best security for this sector.

Today, IOTA caters to several industries, from supply chain management to tokenization, as founder Dominik Scheiner told CNF in an interview earlier this year. 

However, at its founding, the network mainly targeted the machine-to-machine economy enabled by the Internet of Things. And despite diversifying, it remains the best network for IoT.

IOTA’s superiority was backed by a recent report by two researchers from the computer science department at the University of Mosul in Iraq. The two, Sameera Abbas Fadhel and Dr. Ahmed S. Nori, acknowledged that while blockchain offers superb data integrity and security, its “limitations in terms of scalability, throughput, and storage capacity” make blockchain “an unsuitable option for devices with limited resources in the IoT environment.”

The two proposed a new lightweight authentication model for an IoT-based smart house monitoring system that’s based on the IOTA Tangle and utilizes other technologies, such as decentralized identifiers and stronghold vault technologies.

IOTA for IoT

IoT is changing the world, enabling automation and efficiency by allowing devices to communicate autonomously. It’s impacting healthcare through remote monitoring, smart cities through automated administration processes, consumer experience through personalised interactions and much more.

However, researchers warn that IoT devices could be the next big target for hackers. According to one study by the World Bank, Europe, and APAC regions experience around 70 IoT attacks weekly per organization.

This makes security the most critical requirement for IoT networks, and according to the two researchers, IOTA may be the solution.

They believe that IOTA’s Directed Acyclic Graph (DAG) based technology “enhances the transactional throughput, decreases transaction confirmation time, minimizes control consumption and removes transaction charges, hence being more suitable in the IoT setting.”

One of IOTA’s advantages is feeless transactions. The network requires a user to approve two previous transactions in lieu of paying a fee, “thereby increasing the engagement of users in protecting the network without charging.”

And then there’s the scalability, where IOTA is unmatched by its peers, and with billions of devices and, potentially, trillions of daily transactions, IoT can only work on a network that scales massively.

The researchers stated:

Moreover, unlike the blockchains fixed to traditional single chain processing of transactions, IOTA works with the structure called Tangle which enables parallel processing of the transaction. This design greatly enhances the system‟s generated throughput and scalability which makes IOTA capable of accommodating a larger number of users and transactions in its network.

IOTA trades at $0.1404, dipping 2.9% in the past day.

@ Newshounds News™
Source:  Crypto News Flash

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THIS IS NOT A CONSPIRACY THEORY

Countries are accelerating their efforts in crypto exchanges, stable coins, and gold stockpiling, all while developing central bank digital currencies.

This is not a conspiracy theory.

These are all facts.

Connect the dots.

@ Newshounds News™ https://t.me/+PRwSMqsjRVViOTVh

Source: X Gold Telegraph: https://x.com/goldtelegraph_/status/1828106418735718831?s=46

~~~~~~~~~

Listen and learn from this man. He has facts and shares with us as we all wait. Share with others!

August 28, 2024 12:00 Central Noon, 1 PM ET

Listen Here - Podcast Room https://t.me/+VAm-AlWWqWPzyK8G

Replays - YouTube Currency Facts - YouTube

Ask your questions in the Living Room: Link Directly from Isaac when ask for a bio

“But understand I do not have contacts. Isaac

"I have buyers the us treasury , DOD , Admiral , HSBC several big platforms that I have signed contracts with all and they paid already for the inspection several times" Isaac

@ Newshounds News™

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Iraq News Highlights and Points To Ponder Monday Evening 8-26-24

Secrets” Of The Theft Of The Century... “Iraq Observer” Publishes The Full Story From A To Z

 August 26, 2024  Baghdad/Iraq Observer   A secret report prepared by the Iraqi General Tax Authority revealed the full story of the theft of tax deposits, or as it is known as the “theft of the century,” while  highlighting the role of Nour Zuhair, the most prominent accused of the theft.

 According to the report, which was reviewed by “Iraq Observer”, “after auditing the Authority’s deposit account in Rafidain Bank No. (60032), the facts contained became clear to us,” indicating that “during the period from (September 9, 2021) to (August 11, 2022). ) A total amount of three trillion, 701 billion and 380 million Iraqi dinars was withdrawn from the tax deposit account.

 He added,  “The amount was withdrawn using 247 bank instruments by third parties that do not represent the original depositing parties nor the General Tax Authority,” pointing out that  “the parties to whom the total amount was disbursed are five companies, namely:

 A. Al Qant General Contracting

for. Humpback Whale General Trading

T. Baghdad Winds General Trading

 Th. Innovators for oil services

C. Badia Al Masaa General Trading.

According to the confidential report prepared by the General Tax Authority, it was found that  “the five companies in whose names these amounts were withdrawn are owned by only two people, namely Nour Zuhair Jassim and Abdul Mahdi Tawfiq Mahdi.” 

The report indicates that  “during the period referred to (September 9, 2021 to August 11, 2022), the five companies withdrew the amounts listed below:

A. Al-Qant General Contracting Company:  1.185 trillion dinars

 for. Humpback Whale General Trade Company:  982 billion dinars

 T. Badia Al Samaa General Trading Company:  624 billion dinars

 Th. Baghdad Winds General Trade Company:  477 billion dinars

 C. Mbdoun Oil Services Company:  433.015 billion dinars

 He stated that “all the amounts withdrawn from its bank account were withdrawn in cash and by hand,” pointing out that  “the largest instrument disbursed was in the amount of 44 billion dinars, and that the smallest instrument was in the amount of 10 million dinars, and the  companies that withdrew the funds had no tax deposits.” 

He noted that  “the five companies are newly established companies with small capitals.  The two companies, Al-Qant and Mbdoun, were founded in 2021, and  the other three companies were recently established.”  

https://observeriraq.net/خفايا-سرقة-القرن-عراق-اوبزيرفر-تنشر/     

Iraq Is The Ninth Country In The World To Buy Gold In 2024

Posted On 2024-08-26 By Sotaliraq   Recent statistics revealed that Iraq ranked ninth globally among the top 10 countries buying gold this year. Gold refers to converting foreign currency reserves into gold.

According to statistics, Iraq bought 100 tons of gold this year, coming in ninth out of the top 10 countries buying gold this year, compared to 1298 tons bought by Russia, as interest in buying gold is increasing amidst rising geopolitical tensions and economic fluctuations.

Gold hit an all-time high of $2,531.75 an ounce after breaking above $2,500 for the first time this month amid growing expectations that the Federal Reserve is close to cutting interest rates. LINK

19 Trillion Dinars in the Wind: Where Does Iraq’s Electricity Money Go?

August 25, 2024   Baghdad/Al-Masala: The electricity problem in Iraq is one of the most prominent issues that has troubled citizens and aroused their discontent over many years.

Despite the enormous natural resources and large budgets allocated to this sector, the electricity situation is still suffering from severe deterioration.

Iraq suffers from a severe shortage of electricity with increasing demand, which directly affects the daily lives of citizens and hinders economic and social development in the country.

The electricity dilemma in Iraq is manifested through continuous power outages and the instability of the electrical grid, which causes widespread discontent among citizens.

This situation raises many questions about how the funds allocated to improve the electricity sector are spent, especially with the continuous increase in financial allocations to this sector.

In 2023, the Ministry of Electricity’s allocations amounted to about 15 trillion dinars, while it rose to about 19 trillion dinars in 2024. However, the country’s energy production levels are still at their lowest.

Retired electrical engineer Ali Al-Hussain spoke about the reasons behind this worsening crisis, saying: “From my experience in this field, I can say that the main problem lies in corruption and mismanagement.

There are projects that were announced but were not implemented on the ground, and others were implemented at exorbitant costs without achieving tangible results.

In addition, there is a lack of good planning and an unfair distribution of available energy, which leads to the damage of areas most in need of energy, such as Karbala, which received millions of pilgrims during Arbaeen and was unable to provide stable electricity.”

Citizen Ahmed Al-Ali expressed his dissatisfaction with the current situation, saying: “We are paying the price for mismanagement and corruption. How can we spend all this money and not see any improvement in the electricity situation?

Life has become very difficult with the frequent power outages, and our children suffer in the extreme heat in the summer and the bitter cold in the winter. We demand that those responsible be held accountable and that radical solutions be provided to this disastrous situation.”

Corruption And Mismanagement

Statements by the member of the Parliamentary Legal Committee, Mohammed Al-Khafaji, indicate the existence of major suspicions of corruption in the management of the electricity file in Iraq, as he described the allocations of the Ministry of Electricity as “the theft of the century.”

Al-Khafaji called for the Minister of Electricity to be questioned to investigate the country’s deteriorating energy situation, which reflects a general dissatisfaction with the government’s performance in this area. Corruption and mismanagement do not stop at inefficient spending, but extend to the lack of effective oversight mechanisms to ensure that funds are properly directed and projects are implemented efficiently.

As the electricity situation in Iraq continues to deteriorate, a solution remains elusive unless corruption and mismanagement are seriously addressed.

There is an urgent need for comprehensive structural reforms in the electricity sector, including the development of long-term strategic plans and the activation of the role of oversight and accountability to ensure the improvement of electricity services for citizens, while Iraq needs wise leadership and bold decisions to save this vital sector from the ongoing crises and achieve sustainable development https://almasalah.com/archives/99284

Parliament Knows Nothing About The "Saudi Investment Protection" Law.. What Is Its Impact On Iraq? - Urgent

Economy | Baghdad Today – Baghdad  Member of Parliament, Jawad Al-Yassari, confirmed today, Monday (August 26, 2024), that Parliament does not know the details of the Saudi Investment Protection Law that is scheduled to be legislated during the next stage.

Al-Yassari told Baghdad Today that "the Iraqi parliament has not yet reviewed the Saudi investment protection law that is scheduled to be legislated during the next stage," noting that "it is certain that this law will go through several stages of study and discussion before it is passed."

He added, "Iraq has good investment laws, and we do not believe that there is a need to legislate an investment law specific to a particular country," noting that "this step will open the door to the country that wants its own law, and this will be at the expense of Iraq, as there are fears about this matter."

He added: "But there may be agreements to protect investors' money, and this is a natural right for any investor, especially since Iraq is going through conditions that are still unstable."

He continued: "We are waiting for the draft law to be presented to the House of Representatives, which will be submitted by the government, for the purpose of reviewing it and knowing its paragraphs and what they include, so that it can be discussed to determine the extent of the necessity of legislating such a law specific to Saudi investments, and how it is possible to protect those investments with a law that is binding on Iraq to implement."

Iraq is preparing a draft law to protect Saudi investment, with the aim of submitting it for discussion in Parliament, in preparation for its approval in the coming months, with the aim of enhancing economic cooperation between the two countries.

This was announced during a meeting between the Chairman of the Federation of Saudi Chambers, Hassan bin Mujib Al-Huwaizi, and the Chairman of the Iraqi-Saudi Friendship Committee in the Iraqi Parliament, Shaalan Al-Karim, and his accompanying delegation, as part of an official visit to the Kingdom.

Regarding the impact of the law, experts confirm that after its approval, there will be a gradual increase in the level of trade exchange between the two countries, which currently exceeds approximately one billion US dollars per year, with a growth rate estimated at around 10% annually.

On July 18, 2023, the Iraqi Council of Representatives postponed voting on (the draft law to ratify the agreement on the encouragement and mutual protection of investments between the government of the Republic of Iraq and the government of the Kingdom of Saudi Arabia), and it has not been included on the Council’s agenda yet.

Economic relations between Iraq and Saudi Arabia are diverse in different fields, especially in the energy sector; where a $27 billion agreement was signed last year to develop a solar power plant, with the participation of TotalEnergies, and the Saudi company ACWA Power was invited to join part of this deal. LINK