Iraq Economic News and Points to Ponder Tuesday Evening 3-26-24

Iraq Economic News and Points to Ponder Tuesday Evening 3-26-24

Tlm724 Administrator Bondlady’s Corner

"Al-Eqtisad News" Publishes The Decisions Of Today's Cabinet Session

Economy News – Baghdad  In its session held on Tuesday, the Council of Ministers issued several decisions regarding working hours, opening roads, gasoline prices, and other files.

A statement issued by the Prime Minister’s Media Office, received by Al-Iqtisad News, said: “The Council of Ministers held its thirteenth regular session headed by Prime Minister Muhammad Shiaa Al-Sudani, during which the general conditions in the country were discussed, the most important service and economic files were reviewed, and the topics listed on the list were discussed.” agenda and take the necessary decisions thereon.”

According to the statement, the Council of Ministers approved the Eid al-Fitr holiday, starting from Tuesday, April 9, 2024, until Saturday, April 13, 2024, provided that official working hours in all government institutions will resume on Sunday, April 14, 2024.

The Council also voted, according to the statement, to consider March 31 and April 1, 2024, as an official holiday for members of the Christian community. On the occasion of their celebrations of Resurrection.

As part of the government’s steps to address traffic congestion and regulate the working hours of state departments, the Council of Ministers approved, according to the statement, the recommendations of the consultative meeting held on March 16, 2024, concerned with addressing traffic congestion, as follows:

1. Approving the start and end times of official working hours at the headquarters of ministries, the headquarters of their formations, and entities not affiliated with a ministry.

In the capital, Baghdad, for a period of (three months), as an experiment after the blessed Eid al-Fitr holiday, provided that it will be re-evaluated after the end of the aforementioned period by the committee formed according to the letter of the General Secretariat of the Council of Ministers dated January 23, 2023, according to the following details:

a. The official working hours begin for government departments in the Green Zone and the ministries of (Foreign Affairs, Planning, Agriculture, Water Resources, Environment, Migration and Displacement, Communications, Youth and Sports, Culture, Industry and Minerals), (Central Bank of Iraq, Federal Financial Supervision Bureau, Baghdad Municipality, and Aviation Authority). Civil), at seven in the morning and ends at two in the afternoon.

B. The official working hours for the three presidencies and the ministries (Interior, Defense, Health, Finance, Electricity, Justice, Labor and Social Affairs), the Ministry of Education and all associated schools and institutes, begin at eight in the morning, or according to the duties assigned to them by service and security departments and institutions, and end at Three in the afternoon.

C. The official working hours for the ministries of (Higher Education and Scientific Research, Transport, Trade, Construction, Housing, Municipalities, Public Works, and Oil) and (the Shiite and Sunni Endowment Offices, the Martyrs and Political Prisoners Institutions, the Aliyaj Authority for Hajj and Umrah, and the State Council, with the rest of the other bodies not mentioned) begin at Nine in the morning, and ends at four in the afternoon.

D. The official working hours for all public and private universities and colleges begin at ten in the morning, taking into account the adjustment of the weekly holidays for colleges and departments to achieve variation in working hours during the days of the week.

2. Obligating the ministries and agencies not affiliated with a ministry to activate the mass transportation system with no less than (30%) of their employees via buses located in the ministries and agencies not affiliated with a ministry, or through direct coordination with the Ministry of Transport/the General Company for Transporting Passengers and Delegations, and stimulating Employees are encouraged to participate in mass transportation by giving them a grace period to extend the morning footprint half an hour after the start of official work and the evening fingerprint half an hour before the end of official work.

3. Establishing pedestrian bridges for citizens to cross near colleges and hospitals, and ensuring that a fence is placed to prevent crossing except through the bridges.

4.Removing and removing illegal traffickers and street vendors on the sidewalks and streets, especially in the areas of Shorja, New Baghdad, and some crowded markets.

5. Studying the increase in vehicle registration fees in accordance with Council of Ministers Resolution (68 of 2016), amended by Council of Ministers Resolution (237 of 2016), and studying increasing customs duties for importing cars, on the condition that the Kurdistan Region of Iraq adheres to this increase.

6. Opening closed roads in some areas of Baghdad, including:

a. Al-Kargouliya (Al-Saddah) Road towards Al-Amin area.

B. Return the transfer gate near Al-Shaab Stadium.

7. Increase the price of improved gasoline to (850) dinars per liter, and premium gasoline to (1,250 dinars) per liter, as of May 1, 2024.

The statement added that in the field of developing electrical interconnection with neighboring countries, and based on the Federal General Budget Law (No. 13 of 2023), and the instructions for implementing the Budget Law for the fiscal years (2023, 2024, 2025), the Council of Ministers approved the recommendations of the Sovereign Guarantees Committee held on March 9. 2024 and the recommendation of the Ministerial Council for Energy (24022) for the year 2024 regarding the electrical interconnection between the government of the Republic of Iraq and the Electrical Interconnection Authority of the Gulf Cooperation Council countries, according to the following:

1. Issuing a payment guarantee in the amount of ($311,744,668), including the calculated interest.

2. The period is seven years, starting from the year 2025, for the benefit of the Gulf Interconnection Authority, according to what was stated in Cabinet Resolution (145 of 2022).

3. The expected cost of purchasing energy from the Iraqi-Gulf line will be on the basis of (Take and Pay).

4. Exempting the Gulf Interconnection Authority from the fees for issuing the guarantee stipulated in the Federal Financial Administration Law, according to their request, as they are a government entity and not investors, and because they do not realize profits from the project.

In the electricity sector, the statement continued that, in order to follow up on the establishment of electrical stations, the Council of Ministers agreed to authorize the Minister of Electricity to sign a letter of intent between the Ministry of Electricity and the international company (GE Vernova) to implement the projects included in the ministry’s plan.

The Council approved the recommendation of the Ministerial Council for Energy (24023 i) for the year 2024 regarding the implementation of technical and legal requirements. According to the following:

1. Commitment of the departments owning the lands allocated and specified for the establishment of secondary stations, which are (Baghdad Municipality, the Ministry of Finance/State Real Estate Department, the Ministry of Construction, Housing, Municipalities and Public Works, the Baghdad Governorate, Al-Nahrain University, the Ministry of Agriculture/Agricultural Lands Department, and the Directorate of Municipalities of the Three Governorates for the Central Region)

 Wasit, Diyala and Anbar; implementing the decisions of the Council of Ministers (393 of 2019 and 169 of 2022) and the directives of the Prime Minister regarding the subject under discussion, and accelerating the facilitation of the allocation procedures and approvals and handing over to the Ministry of Electricity those lands according to the allocation position schedule for the aforementioned stations, which number (64).

Signed, regarding accelerating the facilitation of allocation procedures and approvals and handing over these lands to the Ministry of Electricity within (3 three months) working from the date of the response to the content of the aforementioned letter from the Ministry of Electricity, so that the Ministry of Electricity can begin referral procedures to international companies specialized in the field of energy and inclusion within international loans and initiate implementation. .

2. Forming a committee from the relevant departments (Baghdad Municipality - Designs Department, Baghdad Antiquities and Heritage Inspectorate, Central Region Governorates - Wasit, Diyala and Anbar, Roads and Bridges Directorate, Highway Traffic Directorate, Ministry of Oil - Oil Pipeline Company, Urban Planning Directorate in Baghdad and the concerned governorates

And the Directorates of Agriculture in Baghdad and the governorates of the Central Region and the Directorate of Water Resources, and the approval of the municipal departments regarding conflicts in the routes of the aforementioned lines and cables and their location in relation to the borders of the municipality in question, and the Ministry of Defense, and the Directorate of Communications for Baghdad and the aforementioned governorates),

 headed by whomever the Council deems appropriate to secure the necessary approvals to implement the routes of the lines and cables.

Concerning the transmission of electrical energy (132 and 400) kV, to complete the projects within the specified times, and obligating the Ministry of Electricity to install the routes electronically.

Also in the energy sector, and to follow up on investment projects in it, the Council of Ministers approved the recommendation of the Ministerial Council for Energy (24020 i) for the year 2024 according to the following:

Approval of amending Cabinet Resolution (312 of 2021) regarding the approval of the Ministerial Council for Energy’s Recommendation (100 of 2021) regarding the renewable energy report to become:

1. Reviewing the investment opportunity granted within Cabinet Resolution (312 of 2021), and it was not initiated and not implemented for any reasons (contractual or other).

2. Review the energy transferred to other companies.

3. Authorizing the Ministry of Electricity to evaluate and reconsider the investment opportunities previously granted, pursuant to Council of Ministers Resolution (312 of 2021) and those not referred, described in paragraph (1) mentioned above.

4. Opening the field of investment in solar energy to Iraqi and other international companies, taking into account the rapid development and changing global prices in the field of renewable energies; To take advantage of time, reduce the complexity of contracting procedures with investment companies, and speed up the introduction of energy into the national system. To fill the deficit, especially in the summer months.

According to the statement, the Council approved the exception of the companies winning the contracts for the Al-Khader and Al-Daraji water project from the period requirement (15) days, stated in the circular of the General Secretariat of the Council of Ministers, dated October 2023, provided that the foreign company is obligated to open a branch in Iraq within 3 months from the date of signing.

 The contract includes procedures in the event of failure to register for a reason related to the company, and the procedures and effect must be agreed upon with the German Development Bank.

In this regard, the Council also approved issuing a directive to the Ministry of Commerce to direct Iraqi attachés abroad to inform companies wishing to work in Iraq to open branches, and to direct the Companies Registrar Department to facilitate the procedures.

The statement continued that, in the field of optimal investment of oil wealth and associated gas, the Council of Ministers agreed to authorize the Ministry of Oil to sign a memorandum of strategic cooperation with the American company (Honeywell), to invest gas and reduce flaring to a minimum, and to benefit from engineering expertise in the field of developing refineries, gas exploitation and petrochemicals.

Optimally, in the field of training and development of engineering and technical personnel, taking into account that the implementation of the memorandum does not entail any financial or legal obligations for the Ministry of Oil.

The Council followed up on service projects, as the Council of Ministers approved, according to the statement, the recommendation of the Ministerial Council for the Economy (24098 BC), which included approval to extend the duration of signing the contract for the project (Al-Wahda District sewers) for a month.

It also approved the recommendation of the Ministerial Council for the Economy (24116 Q) as follows:

Approval to grant Mega Projects Consultant Company (KBR) an operating advance (request for the first task order for preparations (logistics - technical - consultants)) and to hire a core team for the work, and to pay an initial completion rate to start work of (10%), amounting to ($2,223,626).

 As an exception to the instructions to facilitate the implementation of the Federal General Budget Law for the fiscal years (2023 – 2024 – 2025) No. 13 of 2023, according to what was stated in the letter of the Ministry of Planning, dated March 14, 2024, provided that the Mega Projects Consultant Company (KBR) submits a letter A guarantee for the amount, in addition to a performance guarantee letter worth (5%) of the contract that will be provided by the aforementioned company.

The Council of Ministers agreed to:

1. Increase the total cost of the project (constructing the College of Physical Education swimming pool) to become (8,757,987,250 dinars)

2. The Ministry of Higher Education and Scientific Research and the University of Basra bear responsibility for the delay in resolving lagging projects, the validity and accuracy of all data and prices that were provided to the Ministry of Planning, and ensuring accuracy and checking requests and priorities before submitting them to the Ministry of Planning and avoiding many amendments.

As part of following up on oil projects, the Council of Ministers approved the Ministry of Oil’s request to increase the total cost of the project (delivering fuel to industrial and electrical projects to the pipeline company) to become (1,484,685,731,853 dinars).

The Council of Ministers followed up on the implementation of infrastructure for water projects in Diyala Governorate, and decided the following:

1. Reporting the violation to the General Directorate of Water; Because it implemented previous replacement orders (2, 3, 4, 6) before approaching the Ministry of Planning and obtaining the proper approvals to change the method of implementing the contract, from a turnkey contract to a contractor contract.

2. Changing the contract implementation method from a turnkey contract to a contract (schedules and quantities) according to the following:

A. Increasing the total cost of the (Salam Water, Al-Sarajiq and Al-Mansouriya/Diyala Water) project to become (108,013,603,945 dinars).

C. The Ministry of Construction, Housing, Municipalities and Public Works bears full responsibility for the truth and accuracy of the information submitted to the Ministry of Planning. The committees for preparing spare orders and moderating prices also bear the quantities, paragraphs, prices and specifications contained therein.

3. The Ministry of Construction, Housing, Municipalities and Public Works will carry out in-depth administrative procedures and investigations into all observations of the Federal Financial Supervision Bureau and refer the negligent party to justice.

The Council considered a number of issues on the agenda, according to the statement, and took the following decisions regarding them:

First: Approval of what was stated in the letter of the Ministry of Planning on March 24, 2024 regarding contracts for the general census of population and housing, provided that the Ministry bears responsibility for the integrity of the procedures.

Second: Approval of appointing individuals on the list provided and linked to the position of Director General, based on the provisions of the Civil Service Law (24 of 1960).

Third: Approval of what was stated in the letter of the Ministry of Health on March 25, 2024, regarding the establishment of hospitals with a capacity of 100 beds in Baghdad and the governorates, which included sending direct invitations to (3) specialized consulting offices, as an exception to the instructions for implementing government contracts.

The Council also approved the approval of what The Ministry of Health issued a letter dated March 24, 2024 regarding the hospital management and operation program, excluding the Ministry from the periods specified for the companies contracting with it to provide final insurance, for a period of one month.

Views 36 Added 03/26/2024 - https://economy-news.net/content.php?id=41893

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

Goldilocks' Comments and Global Economic News Tuesday Evening 3-26-24

Goldilocks' Comments and Global Economic News Tuesday Evening 3-26-24

Good Evening Dinar Recaps,

We are rapidly approaching the April into May deadline for the MICA, EU’s Comprehensive New Crypto Regulation Standards. MICA stands for Markets in Crypto-Assets. MICA is being integrated with the DTCC. The Depository Trust and Clearing Corporation will process our new Global Digital transactions.

Essentially, Europe will be moving our new digital money through this new integration testing the speed, flow, and security of its movement. This is being done to make sure we have a smooth transition and implementation by May 28th, 2024.

This comprehensive industry testing is necessary to measure end-to-end processes such as trade executions to trade settlements along with non-standard settlement scenarios utilizing tokenized assets.

When this is finished, US Treasury and Repo Market mechanisms will be capable of being utilized. It will enhance data information for the Derivatives Market, Equity Markets, Instant Payments, Digital Ledger Transmissions and much more.

After this is completed, new rules and regulations can be applied for the governing lawful use of this new Quantum Technology inside our new Digital Asset-Based Trading System. DTCC 1 Securrency Coindesk

© Goldilocks

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"After rolling out its digital asset trading platform, German-based stock exchange Deutsche Börse has signaled an intention to proceed with an institutional-facing solution."

The Deutsche Bank has moved into a proposal phase in rolling out their digital assets business platform.

This will allow exchange attempts to be made with digital currencies representing each country's currencies to their institutional clients. 

Remember, the Deutsche Bank touches every Bank around the world on some level, and the execution of this program will allow connections to be made between Banks who desire to exchange foreign currency.

The proposal phase includes the business idea, market analysis, management team, financial projections, and the terms and conditions of the funding. In other words, they are ready to move forward.  Coingeek

© Goldilocks

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There are several ISO 20022 Tokens. Each represents a set of assets that will flow through their Network.

Think of these Networks as channels that will move Tokenized Assets or Stocks that are now Digital.

This is a very important role in the new economy, and you can't tell me that these ISO20022 Tokens won't be valuable going forward.

The trick is to obtain them before the switch is turned on for them to move freely. At that time, we may see assets move into real values of significance overnight.

The first RV.

The second RV will be our paper currencies sometime after this event.

We are getting closer for those waiting on their paper currencies to change.

Hopefully, the two go together. I have not received information on this just yet, so we wait. Coincodex

© Goldilocks

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You might have heard of ETPs, ETFs, ETCs and ETNs, but what are these financial instruments exactly? How can they facilitate exposure to assets like cryptocurrencies for investors? | BitPanda

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The European Council has adopted the Instant Payments Regulation and it is now scheduled to come into effect in a little over two weeks. The deadline for compliance is far too tight, argues CGI’s Ainsley Ward |  Electronic Payments International
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DBS Announcement:

Mumbai [India], September 13 (ANI/PR Newswire): DBS has launched real-time online tracking for cross-border collections for businesses in India in partnership with SWIFT Global Payments Innovation (gpi). DBS is the first bank in India and Asia-Pacific to offer this service to clients, which is expected to benefit close to 4000 corporate and SME clients in India, with numbers expected to grow further. Yahoo Finance

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The Federal Reserve Board released the hypothetical scenarios for its annual stress test, which helps ensure that large banks can lend to households and businesses even in a severe recession. | LA Times
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HSBC will be launching tokenized gold tomorrow to its retail clients, said Hong Kong chief digital officer Bojan Obradović during a panel at the «Milken Institute Global Investor’s Symposium». This will mark the first form of tokenized real-world asset that it is introducing to the segment.  Finews

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Pre-validation: combatting fraud and minimising errors in payments - OMFIF

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What are the massive drivers of the future markets? The answer to this question lies in what the Central Banks are currently doing.

Buying gold.

© Goldilocks

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BALTIMORE − A massive search effort was underway Tuesday for six construction workers who were on the Francis Scott Key Bridge in Baltimore when it was struck by a large cargo ship and collapsed into the Patapsco River, shutting down a critical artery for East Coast shipping, authorities said. | USA Today
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China puts trust in AI to maintain largest high-speed rail network on Earth | South China Morning Post

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London Stock Exchange (LSE) Will Start Market for Bitcoin and Ether ETN's May 28 | Coindesk

👆  Goldilocks pointed to this article

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Project Neo: gaining new economic insights with AI and novel data sources | BIS

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Currency Insider Iraqi Dinar – Dong Tuesday Afternoon 3-26-24

Currency Insider Iraqi Dinar – Dong Tuesday Afternoon 3-26-24

Iraqi dinar RV Date Announced – 1:53

Iraqi dinar new rate on $3.45 ? Iraqi dinar after RV Announcement – 2:28

Vietnam Dong time to celebrate for Dong holder – 1:14

 Iraqi dinar RV Date Announced – 1:53

https://www.youtube.com/watch?v=n4F50sO3FmM

Iraqi dinar new rate on $3.45 ? Iraqi dinar after RV Announcement – 2:28

https://www.youtube.com/watch?v=gGNk2KGVzhg

Vietnam Dong time to celebrate for Dong holder – 1:14

https://www.youtube.com/watch?v=u9w3P_POfOk

Iraq Economic News and Points to Ponder Tuesday Afternoon 3-26-24

Iraq Economic News and Points to Ponder Tuesday Afternoon 3-26-24

Tlm724 Administrator Bondlady’s Corner

Digital Tracking Reveals The Threads.. What Happened To The Dollar Exchange Rate In Iraq?

Economy  03-25-2024 | 14,205 views  Al-Sumaria News – Economy  Over the past few days, Iraqi citizens have been observing the rapid decline in the dollar exchange rates until it reached the stock market at 146 thousand dinars per 100 dollars.

In a quick look conducted by "Al-Sumaria News" to find out the reason for the rapid and continuous decline in exchange rates, we found a close connection between the variables of the exchange rate figures and the variables of the central bank's sales figures.

The dollar exchange rates on stock exchanges in Iraq between March 15 and 18 were at 150,000 dinars for every 100 dollars, and began to gradually decline after March 18, below 150,000 dinars.

The exchange rate on March 18 was 149.6 dinars per dollar, and it dropped to 149.5 and then 148.8. The gradual decline also continued two days ago to 147.5, until today, March 25, the exchange rate reached 146.5 dinars per dollar.

On the other hand, by monitoring the Central Bank’s sales of dollars, it appears that sales were less than $220 million and stable at this level throughout the past weeks and months, but since March 17, that is, on the date of the start of the rapid decline in the exchange rate on March 18,

 it appears that sales On March 14, the Central Bank jumped above $235 million for the first time in many months, and the rise continued on March 17, reaching more than $240 million,

and on March 18, it reached more than $242 million, and on March 19, it reached more than $245 million, and on March 20, it reached more than $242 million.

 In March, it reached more than $250 million, and continued until today, March 25, with numbers hovering around $250 million.

From this, it appears that the Central Bank’s sales of the dollar increased by more than 13%, while the dollar exchange rates decreased by 3% during the past two weeks.

It seems that the Central Bank of Iraq began to cover the need for trade dollars, and merchants began to buy quantities of dollars from the parallel market, and began to head to the Central Bank’s window, especially with the facilities that were granted to gold and cigarette merchants, who represent the largest percentage of merchants evading the platform and the currency selling window. The official government resorts to buying dollars from the parallel market.  LINK

https://www.alsumaria.tv/news/economy/484876/%D8%AA%D8%AA%D8%A8%D8%B9-%D8%B1%D9%82%D9%85%D9%8A-%D9%8A%D9%83%D8%B4%D9%81-%D8%A7%D9%84%D8%AE%D9%8A%D9%88%D8%B7-%D9%85%D8%A7%D8%B0%D8%A7-%D8%A3%D8%B5%D8%A7%D8%A8-%D8%B3%D8%B9%D8%B1-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D8%9F

Iraq And Britain Sign The First Agreement In The Field Of The Stock Market

Economy News – Baghdad  The Securities Authority announced, on Tuesday, the signing of a joint cooperation agreement with the British Chartered Institute for Securities.

The Chairman of the Authority, Faisal Al-Haims, said in a statement seen by Al-Eqtisad News, “The agreement has been worked on by the Securities Authority for almost a year, and the signing of an agreement in cooperation between the Securities Authority and the British Royal Institute in licensing the capital markets is a high professional certificate recognized in all countries.” Countries of the world".

Al-Haims pointed out, "This agreement represents a qualitative shift in the work of brokers in the stock market in terms of financial mobilization for the performance of companies and their ability to add new skills, not in the Iraqi stock market, but in other markets, both regional and global."

He added, "The articles of the agreement include the possibility of organizing training courses for Iraqi cadres to benefit from the experiences of financial markets in countries around the world, and developing the professional framework by imposing the qualifications of the Chartered Institute for Securities and Investment on local Iraqi institutes specialized in the field of securities."

Views 61 03/26/2024 - https://economy-news.net/content.php?id=41888

Oil: The Gas Sector Is Witnessing Great Development

Tuesday 26, March 2024 15:06 | Economical Number of readings: 335

Baghdad / NINA / The Ministry of Oil announced that the gas sector is witnessing great development, indicating that it aims to maximize national production.

The Ministry stated in a statement: “Today, the Undersecretary for Gas Affairs, Izzat Saber, chaired a meeting to discuss the five-year plan for the gas sector, which included the companies specialized in gas affairs and the relevant departments at the Ministry’s headquarters.”

She added: "The meeting included a discussion of the five-year plans and development and investment programs for the projects of the Basra Gas Company and the South Gas Company, and the fields of licensing rounds."

According to the statement, the Undersecretary for Gas Affairs stressed “the importance of accelerating the implementation of plans for optimal investment of gas wealth within the government program that aims to maximize national production, stop burning gas, and convert it into useful energy to supply and meet the needs of the electricity sector and industries related to its consumption,” noting that “the sector Gas is witnessing great development to convert associated gas into useful energy.”

He explained, "The Ministry has previously contracted with specialized international companies to invest gas from all promising oil fields," pointing out that "these projects are under implementation to implement their plans and programs to gradually supply national production with new quantities, including the Halfaya, Nasiriyah, Gharaf, and Basra gas projects, in addition to New contracts with Total and the gas investment project in the Nahran Bin Omar field, in addition to the fifth, fifth “supplement” and sixth licensing rounds.

He expressed his hope that it would “add large quantities to national production.”/ End 7

https://ninanews.com/Website/News/Details?key=1116922

Iraq To Purchase 50 New Trains For The Development Road’s Railways

   Amr Salem March 25, 2024   A train in Iraq. Photo: Iraqi News Agency

Baghdad (IraqiNews.com) – The Iraqi Ministry of Transport revealed on Monday that the government has authorized a proposal to purchase 50 new trains from foreign manufacturers to service a 1,200-kilometer railway that is currently under construction.

The information director at the Iraqi Transport Ministry, Maytham Safi, told the Iraqi News Agency (INA) that 66 percent of the design studies for the project known as the Development Road have been finished and the path of the railway has been chosen.

The Development Road is the name given by the Iraqi government to what was known as the dry canal that connects the Al-Faw Grand Port in southern Iraq with the Turkish territories through railway networks and roads.

The Development Road includes a railway where trains will pass through 10 Iraqi governorates.

The Iraqi Prime Minister, Mohamed Shia Al-Sudani, stated earlier that the Development Road represents a global corridor to transport goods and energy.

Al-Sudni illustrated that the project includes a railway to transport goods, with a capacity of 3.5 million tons in its first phase that will be increased to 7.5 million tons in the second phase.

The Iraqi Prime Minister elaborated that the project will also include a highway for land transport and pipelines to transport energy, in addition to the Al-Faw Grand Port and the industrial city expected to be one of the largest in the Middle East.

The project will generate many job opportunities for Iraq and the countries of the region, as well as opportunities for industries and businessmen, and it will be a center attracting global trade.

Many Arab, regional, and European countries have expressed their willingness to participate in Iraq’s Development Road project, either by pumping in investments or taking part in the construction works, as it constitutes an important link between Asia and Europe.

The value of the project is estimated at $17 billion. It will connect the Al-Faw Grand Port in southern Iraq to the border with Turkey by extending a railway and road network.

The project is expected to turn the country into a transit center by shortening the travel time between Asia and Europe in an attempt to compete with Egypt’s Suez Canal.    

https://www.iraqinews.com/iraq/iraq-to-purchase-50-new-trains-for-the-development-roads-railways/     

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

Iraqi Dinar Video Update Tuesday Afternoon 3-26-24

Iraqi Dinar Video Update Tuesday Afternoon 3-26-24

IQD/USD Closes as a Stable Rate – 3:17

Iraq PM Al-Sudani Big Announcement About IQD RV – 3:56

Congratulations It's Time For Vietnamese Dong Revaluation – 3:39

Iraqi Dinar Revaluation Last 24 Hours – 3:25

 IQD/USD Closes as a Stable Rate – 3:17

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

Iraq PM Al-Sudani Big Announcement About IQD RV – 3:56

https://www.youtube.com/watch?v=spwczG4_JY0

Congratulations It's Time For Vietnamese Dong Revaluation – 3:39

https://www.youtube.com/watch?v=UTkoFQu-jfg

Iraqi Dinar Revaluation Last 24 Hours – 3:25

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

Tuesday Evening Chat with MarkZ 3-26-2024

Tuesday Evening News with MarkZ

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

​​Member: Good Evening everyone….Any good news tonight Mark?

MZ: We are getting some bond news. There were a number of bond meetings. So far they are expecting  all completed and final contracts and their 1% payment the first of next week. So that is positive….will be right around April 1st.

Member: Skye Prince of Australia reports Bond holders started getting paid beginning 1 pm our time!!!

Member: If bonds are moving is CMKM ready to be released????

Member: MilitiaMan is hearing  sanctions were removed from Iraq as well.

MZ: It’s good to know that someone with his level of connections inside the country are hearing the same things.

Member:  Frank 26 still thinks that the Dinar will go first and alone.

MZ:  “Switch to Gold Standard could stabilize prices- Philadelphia Fed research”  This story is popping out today.  We are watching more and more lights come on.

Member:  ​​Bank story went to my Chase talked to manager did not talk currency but asked about the private customer. She told me over 50K would qualify JP Morgan on site will cover higher value in their accounts

Member: For CANADIANS: HSBC private weatlh clients have been migrated to Royal Bannk of Canada. RBC has been Basel lll compliant since April 2023, per their website. So, looks like RBC is in.

MZ: I have a good bank story to share with you all tomorrow…..

Member:  When is the IRS going away, I’m tired of paying

Member: Still praying we get the reset before we all have to pay billions in taxes in 2 weeks to rehydrate the cabal.

Member: Good night all…….fingers crossed this is our week.

Member: The best is yet to come.

 “THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES & NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.

​TO GET THE “REAL MARKZ ACCOUNTS”, TWITTER, YT, RUMBLE, TELEGRAM ROOMS, AND FOR MARK’S DAILY LINKS TO HIS WEBSITE: https://theoriginalmarkz.com

STAY IN THE KNOW: FOR UPDATES ON PODCASTS (CHANGES & GUESTS). YOU WILL FIND PLENTY OF USEFUL INFO THAT KOUKLA UPDATES OFTEN FOR MARK AT THE TELEGRAM INTEL CHANNEL: https://t.me/+K_GNVfTI0gFkZWYx

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

https://www.youtube.com/watch?v=3OrxvOPrMmE

Some "Tuesday News" Posted by Clare at KTFA 3-26-2024

KTFA:

Clare:  From Tuesday until Saturday.. Iraq announces the Eid al-Fitr holiday

3/26/2024

The Iraqi government announced the Eid al-Fitr holiday, which extends from the ninth of next April until the 13th.

The media office of the Iraqi Prime Minister said in a statement, received by Shafaq News Agency, that the Council approved considering the Eid al-Fitr holiday, starting from Tuesday, April 9, 2024, until Saturday, April 13, 2024, provided that official working hours will resume in all government institutions, On Sunday, April 14, 2024.   LINK

Clare:  Parliamentary Finance: Budget tables arrive before the Eid holiday

3/26/2024

The Parliamentary Finance Committee expected that the budget tables for the current year 2024 would arrive in the House of Representatives before the Eid al-Fitr holiday.

Committee member, Moeen Al-Kazemi, said in a press statement, “The 2024 budget schedules have not yet arrived from the government, even though we are in the month of March, and the government was supposed to send them before the end of last year and submit them to Parliament for approval,” noting, “The Ministry of Finance has completed The proposed amendments to the budget.”

He added that the Ministry of Planning has completed the investment budget and now the tables are in the body of advisors at the Prime Minister’s Office and have been presented to the Prime Minister, expecting that “the amendments to the 2024 budget will reach the House of Representatives before Eid al-Fitr.”

On March 13, the Ministry of Finance announced the completion of data related to the 2024 budget schedules, the inclusion of texts, and sending them to the Council of Ministers.

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed {to Al-Furat News} that the House of Representatives’ approval of the budget schedules for the year 2024 does not hinder their implementation.    LINK

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Deputy: Al-Sudani will raise the issue of lifting sanctions against Iraqi banks in Washington

3/26/2024   Baghdad

 The representative of the Coordination Framework, Arif Al-Hamami, confirmed that Prime Minister Muhammad Shiaa Al-Sudani sought to negotiate directly with American officials to withdraw their forces from Iraq and end the tasks of the international coalition.

 Al-Hamami said in an interview followed by Mawazine News: “Al-Sudani will emphasize the security partnership and support of the Iraqi forces in the field of training and armament, and work to lift the American veto on Iraq’s contract to purchase advanced air defense systems,” indicating the existence of “an undeclared American veto so that The Iraqi sky is under American control and it penetrates it whenever it wants without any deterrent.”

Al-Hamami added, “Al-Sudani’s discussions in the White House will focus on the financial and economic file, especially related to the American sanctions on some Iraqi banks, and the impact of that on Iraq, and seeking to lift those sanctions and working to find a mechanism to pay Iraq’s foreign debts.”

The visit to Washington is considered a protocol procedure used by successive Iraqi government heads after the US invasion of Iraq in 2003, and it usually occurs in the first months of assuming office.

However, Al-Sudani’s visit, in his capacity as head of a government emerging from a political alliance (the Coordination Framework), which declared on more than one occasion his opposition to the United States and his work to remove its military presence from the country, may take it out of its usual context this time, especially since the files that Al-Sudani is carrying to Washington will not Be acceptable to America. LINK

Clare:  Preserving foreign reserves.. An Iraqi academic study answers the question “The stability of the Iraqi dinar against the dollar”

3/25/2024

At a time when the price of the dollar is still fluctuating between high and low, forcing the market to live in a state of some kind of confusion, because the hard currency constitutes an important tool in Iraqi trade, as it is a trade that depends on imports for most of the products in the local market, On Monday, a researcher whose master’s thesis was discussed at the College of Administration and Economics at Tikrit University put forward some possible solutions for controlling the price of the dollar, as his thesis came about the role of the central bank and the currency selling window, their role in stabilizing the dinar against the dollar, and the importance of maintaining foreign currency reserves. .

Researcher Ahmed Abdullah Akil told Shafaq News Agency, “The study aims to know and measure the extent of the impact of some of the central bank’s tools in achieving stability in the exchange rate of the Iraqi dinar against the US dollar during the period (2004 - 2022) in order to know the places of imbalance and negatives that hinder achieving Stability of the value of the local currency according to what is appropriate to the nature of the Iraqi economy, as the goal of maintaining the value of the local currency was the primary goal of the bank with the aim of maintaining the price level, which is essentially linked to the exchange rate of the local dinar against the US dollar.

He added, "The study variables were analyzed and measured according to the (Eviews 13) program, and it was found that there is a positive and significant relationship between some of the central bank's tools as independent variables and the official and parallel exchange rates as dependent variables in the short term, with some negative and positive correlations to some variables in the long term, as It was noted that some tools were ineffective in influencing the currency exchange rate, such as the legal reserve, the rediscount rate, and open market operations, but the effect of some of them was limited to inflation.

He pointed out that "while the effect of the interest rate and the window was positive on the value of the local currency as a result of its reduction in the nominal exchange rate, this indicates the ability of the central bank to influence the stability of the exchange rate of the local currency against the foreign currency, especially through the currency selling window throughout the study period, except for some In the last years of the study period, the nominal exchange rate rose again, and so did the parallel market, by decision of the monetary authority represented by the Central Bank, for the purpose of confronting public expenditures and confronting the repercussions of the global health crisis related to the Corona epidemic and the accompanying decline in oil prices, which is the main source of the dollar. America because of the rentier nature of the Iraqi economy.”

He continued: “It was also noted that the gap between the official exchange rate and its counterpart in the parallel market increased due to the increased demand for foreign currency, and the study presented a number of recommendations, the most important of which is continuing the operation of the window without excessive use of foreign reserves and diversifying the sources of obtaining foreign currency by pushing the wheel of development and activating the real sector.” Industry and agriculture, in order to achieve a reduction in imports, which reduces the depletion of the currency, in addition to tightening control measures to prevent the smuggling of foreign currency and actions that affect the supply of it, which contributes to the stability of the local currency exchange rate.”

He stressed that "continuing to operate the currency selling window without compromising on foreign reserves, and diversifying the sources of obtaining foreign currency so that the exchange rate does not remain hostage to oil prices as it is almost the only source of obtaining foreign currency."

He stated that "advancing the wheel of development in Iraq, activating the real sector, revitalizing industry and agriculture to reduce imports, relieving pressure on foreign dollar reserves, distancing the Central Bank from political pressures, granting it the necessary powers to deal with fluctuations in the economic situation, including exchange rate fluctuations, and tightening supervisory measures to prevent foreign currency smuggling." abroad so as not to affect the supply of foreign currency, and thus the value of the local currency.”   LINK

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Clare:  Signing an Iraqi-British agreement for joint cooperation in the stock market

3/26/2024

The Securities Commission announced, on Tuesday, the signing of a joint cooperation agreement with the British Chartered Institute for Securities, which includes the exchange of information related to financial training programs, confirming that the agreement represents a qualitative shift in the work of brokers in the stock market.

Deputy Chairman of the Securities Commission, Nagham Hussein, told Shafaq News Agency, “Today, the Iraqi Securities Commission signed a cooperation agreement with the British Chartered Institute for Securities and Investment, which stipulates the establishment of a framework for cooperation and exchange of information related to financial training programs for securities markets and services to develop and maintain capabilities.” HR". 

She added, "The articles of the agreement include the possibility of organizing training courses for Iraqi cadres to benefit from the experiences of financial markets in countries around the world, and developing the professional framework by imposing the qualifications of the Chartered Institute for Securities and Investment on local Iraqi institutes specialized in the field of securities."

For his part, Chairman of the Securities Commission, Faisal Al-Haims, told Shafak, “The agreement has been worked on by the Securities Commission for about a year. The signing of an agreement in cooperation between the Securities Commission and the British Royal Institute in licensing the capital markets is a highly professional certificate recognized in all countries of the world.”

He pointed out that "this agreement represents a qualitative shift in the work of brokers in the stock market in terms of stimulating the financial performance of companies and their ability to add new skills, not in the Iraqi stock market, but in other markets, both regional and global." LINK

Iraq Economic News and Points to Ponder Tuesday AM 3-26-24

Iraq Economic News and Points to Ponder Tuesday AM 3-26-24

Tlm724 Administrator Bondlady’s Corner

The Secret Of The Dollar’s ​​Decline: The Parallel Market Lost Its Customers And Demand For The Platform Increased Four-Fold

Economy  03-26-2024 | 17,082 views  Al-Sumaria News – Economy  The Deputy Governor of the Central Bank of Iraq confirmed that external commercial transfers through the official SWIFT system have increased significantly and jumped from $50 million per day to $200 million now.

Deputy Governor of the Central Bank, Ammar Khalaf, said that transactions via the Central Bank’s electronic platform - which ensures compliance with the SWIFT system - have witnessed a significant increase, and many foreign trade transactions are now conducted through the platform,” according to Agence France-Presse.

He added, "At the beginning of 2023, transactions amounted to $50 million per day, and now we have about $200 million, which is proportional to the size of the Iraqi economy."

Khalaf said, "We noticed that the cases of rejections by the US Federal Reserve on remittances have decreased recently because banks have realized the international requirements and because merchants know better what is required to transfer their money."

Khalaf said: “We are in constant contact with the US Treasury to try to lift the ban on some banks,” hoping that the talks will yield “good and positive results.”

Perhaps this matter reveals the real secret of the decline in the exchange rates of the dollar against the dinar, as there is only a small part remaining, perhaps equivalent to 25 million dollars per day, that buys the dollar from the parallel market, while the rest of the types of foreign trade have begun to take place through the central bank and in a fundamental manner according to the announced numbers. LINK

Government Source: All Government Banks Adopted The Simple Decreasing Interest Method Instead Of Fixed Interest

Economy News – Baghdad  On Monday, Prime Minister Muhammad Shiaa Al-Sudani directed government banks to adopt simple decreasing interest on loans and advances. 

Views 80  03/25/2024 - https://economy-news.net/content.php?id=41858

Investing In Iraq's Natural Wealth Is A Step Towards Economic Integration

Money  and business  Economy News _ Baghdad  Experts in financial and economic affairs called for investing the enormous natural resources that Iraq possesses in a scientific and systematic manner that contributes to removing the country from the cycle of the “one-way rentier” economy represented by oil and gas, to reach integration in various industrial, agricultural and commercial aspects.

According to the classification of international economic institutions, Iraq ranks ninth in the world in terms of its possession of raw natural resources, amounting to approximately 16 trillion dollars.

Advisor to the Prime Minister for Financial and Economic Affairs, Dr. Mazhar Muhammad Salih, said in an interview with “Al-Sabah” followed by “Al-Iqtisad News,” that “Iraq ranks ninth in the world in the value of natural resources and wealth stored in the ground - which the global economic circles estimate as stored wealth at prices.” prevailing - at least 16 to 17 trillion US dollars.”

He explained that “the reports of the geological survey experts in Iraq confirm that the country has the first reserve in the world of sulfur and the second reserve of phosphate after Morocco,” noting that “the reports were previously completed by the experts of the Iraqi Geological Survey, within the project (identifying reserves), as For example, approximately 10 billion tons of phosphate and others were discovered.”

Saleh added, “With the exception of the current investment in oil and gas wealth, the Iraqi economy has the opportunity to optimally exploit these mineral and other natural resources,” noting that “the draft economic reform law and the natural resources investment law constitute Iraq’s future strategy for the birth of investment partnerships with the private sector in accordance with A broad production chain that goes beyond extraction and export, so that the extraction outputs go to the manufacturing of the raw materials themselves as inputs, which are chains that will undoubtedly generate and maximize added value.”

He explained that "such an approach is one of the country's economic diversification policies and the elimination of (rentier unilateralism), and it is an approach that undoubtedly creates a solid development base based on creating exports to global markets with high-value export revenues that are in the interest of the current account of the Iraqi balance of payments."

He noted that "such a policy of investment, partnership and development requires a pattern of investment rates that maximize production and annual national income, the basis of which is certainly the investment and production partnership between the state and the private sector."

The specialized international economic website Statista published a report on the natural resources possessed by the countries of the world, where Iraq ranked ninth in the world, as it possesses 15.9 trillion dollars in natural resources, and its desert terrain contains oil, natural gas, phosphate and sulfur, according to the website.

For his part, the head of the Regional Center for Studies, Ali Al-Sahib, said, “Iraq possesses many important natural resources, especially expensive materials such as sulfur and mercury, in addition to gas, coal, etc., and therefore it was possible for Iraq to escape from the so-called (Dutch bug) in terms of Its dependence on oil alone, in addition to the possibility of achieving a significant increase in its financial income, which would raise the purchasing power of the Iraqi individual.”

He noted that "Iraq's investment in these minerals and gas, in addition to oil - and it possesses the second oil reserve in the world - qualifies it to be one of the rich countries, despite the fact that the living reality of the Iraqi individual is witnessing negative repercussions due to the presence of a corruption system that ravages the Iraqi body and strikes its institutions."

He added, "Iraq does not possess - especially after 2003 - the devices and equipment capable of extracting these riches buried in the ground, but it can contract with major international companies specialized in this matter in order to achieve a qualitative leap in the economic and even industrial fields. With this measure, it will have moved far, even if "Partly based on dependence on oil revenues."

Views 79 03/26/2024 - https://economy-news.net/content.php?id=41868

Stability Of The US Dollar Exchange Rates On The Baghdad Stock Exchange

Economy  Tuesday, March 26, 2024 12:29 PM  Baghdad/National News Center   The exchange rates of the US dollar stabilized on Tuesday morning in Baghdad markets, with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 147,400 dinars for every 100 dollars, which are the same prices that were recorded yesterday, Monday.

Buying and selling prices also stabilized in the exchange shops in the local markets in Baghdad, as the selling price reached 148,500 dinars, while the purchasing price reached 146,500 dinars for every 100 dollars.   https://nnciraq.com/251539/

The Central Bank Sells About A Quarter Of A Billion Dollars At Auction Today

Money and business    Economy News – Baghdad  The Central Bank of Iraq announced, on Sunday, its sales of hard currency, amounting to about 250 million dollars in today’s transactions, according to the official rate of 1310. The bank’s data showed that the total internal cash withdrawals amounted to 14,330,000 dollars, while the total amounts of transfers abroad, which include remittances. The credits amounted to $235,620,923, while the total sale amounted to $249,950,923. Views 73   3/25/2024 - https://economy-news.net/content.php?id=41834

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

Provoking Thoughts and Points to Ponder on Buying & Selling

A fair price for oil is whatever you can get plus ten to twenty per cent - Anonymous

A decision is the action an executive must take when he has information so incomplete that the answer does not suggest itself  - Arthur William Radford

An extravagance is anything you buy that is of no earthly use to your wife - Franklin P. Jones

What costs nothing is worth nothing  - Anonymous

Keep thy shop and thy shop will keep thee  - Ben Jonson

Everything is worth what its purchaser will pay for it  - Publilius Syrus

There is hardly anything in the world that some man can't make a little worse and sell a little cheaper, and the people who consider price only are this man's lawful prey - John Ruskin

Cheat me in the price but not in the goods  - Thomas Fuller

When you buy, use your eyes and your mind, not your ears - Czechoslovakian proverb

People will buy anything that's one to a customer - Sinclair Lewis 

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

http://famousquotesandauthors.com/quotes_by_topic.html

“It looks like fly crap to me. . .”

“It looks like fly crap to me. . .”

Notes From the Field by Simon Black / James Hickman  March 25, 2024

I’m on my way back home from Mexico City after an incredible weekend event here with more than 100 of our Total Access members.

First things first, if you’ve never been to Mexico City, I highly recommend it. A lot of people have a misconception that the city is some kind third world dump. It’s not. And most first-time visitors are stunned by the vast green areas, expansive parks, tree-lined streets, museums, architecture, and modern lifestyle.

In my opinion it also has some of the best restaurants in the western hemisphere. You can eat extremely well in Mexico City, but you don’t pay very much for it.

The event we held for our Schiff Sovereign Total Access members was also pretty great.

I started off the conference explaining why we should expect higher inflation in the future-- and I’ve written about this extensively. The US government’s own projections call for $20 trillion in additional debt over the next decade. And frankly we think they’re woefully underestimating the problem.

But even $20 trillion will likely prove catastrophic. That would mean the US national debt will reach $55 trillion.

If yields remain at today’s levels (roughly 4.5%), then the government will have to spend nearly $2.5 trillion per year, just to pay interest on the debt. That would make interest on the debt the #1 expense of the federal government, triggering a vicious cycle in which the Treasury Department would have to borrow more and more each year just to be able to pay interest on the money they’ve already borrowed.

To say this is unsustainable would be a massive understatement. And we believe that the Federal Reserve will step in to bail out the government by slashing interest rates to zero (or even negative levels).

Think about it-- if the national debt is $55 trillion, but the interest rate on that debt is literally 0%, then the government’s annual interest bill is zero… essentially saving them $2.5 trillion per year.

Sounds great. But it would come at substantial cost.

For the Federal Reserve to lower rates, it would require them to dramatically increase the money supply, what we typically refer to as ‘printing money’. They’re not actually printing physical currency-- it all happens electronically. But the effect is the same: it’s highly inflationary.

When the Fed ‘printed’ $5 trillion during the pandemic, the US economy saw 9% inflation. So, if the Fed prints $20 trillion or more to push interest rates down to zero, how much inflation will be see then?

No one knows. But it probably won’t be their magical 2% target.

My partner Peter Schiff came on the stage later and made similar comments. And with this inflationary scenario in mind, we sketched out a number of strategies, both personal and financial, that would make sense in the coming years.

It would be easy to study this problem and come away with a sense of dread. After all, a $55+ trillion national debt and $2.5 trillion in annual interest expense looks pretty scary. (Remember, these are based on the government’s own forecasts.)

But if you can understand the trend and its consequences, then you can also take completely rational steps to reduce their impact. That’s the entire concept behind a Plan B.

Peter and I both see overwhelming evidence of substantial inflation in the future. But this means we can prepare for it now, rationally. And we outlined a number of strategies to do so.

One rather obvious one is gold. And we talked about why gold will likely become very important in the future. My personal view is that gold will eventually displace the dollar as the global reserve standard, i.e. how foreign governments and central banks settle their accounts.

With a $55+ trillion projected national debt, and $2.5 trillion in annual interest expense, it’s hard to imagine the rest of the world continuing to allow the US dollar to remain the dominant reserve currency.

And it would be a similar outcome if the Fed ‘prints’ tens of trillions of dollars.

Either way, we see the dollar’s reign as the dominant reserve currency coming to an end over the next decade.

But since no one trusts the Chinese government, or some new ‘BRICS dollar’, gold is the most likely candidate to replace the US dollar since every government and central bank on the planet already owns it… and has confidence in it.

Gold has the added benefit that no single government controls it. And so single country dominates gold production; China, Russia, the United States, Canada, etc. all produce substantial quantities each year.

We later heard from a colleague of mine who runs one of the largest precious metals storage facilities in the world, based in Singapore. He gave me an insider’s view of the gold and silver markets, and sketched out why there may be a shortage coming, especially in silver.

He explained how many of the world’s largest commodities and metals exchanges have seen dwindling stockpiles… while many mines are doing direct ‘offtake’ agreements with large industrial consumers (like electronics companies).

The end result has been a trend of declining physical silver availability, and he believes this will ultimately drive the silver price much higher.

He added that silver is currently quite cheap compared to gold, with the silver/gold ratio currently at about 90:1, versus its historic average over the past several years of roughly 70.

We also had a presentation from a venture capital firm that talked about buying shares of prominent startups (Airbnb, SpaceX, etc.) in the secondary market, i.e. from employees or early-stage investors seeking liquidity. It’s an interesting way to take a discounted position in a high growth business whose value could explode in an inflationary environment.

As one could expect right now, there was also ample discussion about cryptocurrency, including a mini-debate between Peter and our guest Mark Moss, who also spoke at the event. More on that another time.

Perhaps my favorite part was hearing from the former President of Mexico, Vicente Fox. He spoke in the morning about how many short-sighted and dangerous leaders are ruining the world… and I couldn’t agree more.

During a Q&A session later, he told the crowd about the time that George W. Bush came down to Mexico to convince him to support the war in Iraq.

Former President Fox told us that Bush’s team rolled out maps of Iraq onto his desk and pointed at a tiny speck, saying, “There are the weapons of mass destruction.”

Fox stared closely at the table and brought his face closer to where they were pointing, and said, “It looks like mierda de mosca to me…” That’s Spanish for ‘fly shit’.

I want to extend my sincerest thanks to all the members who joined us for a wonderful weekend in Mexico City. The event, the restaurants, the personal discussions with each of you, and the camaraderie were all unforgettable.

And if you’re not currently a member but interested in joining Total Access, you can find out more about it here.

To your freedom,  James Hickman  Co-Founder, Schiff Sovereign LLC

 [Important Reminder: In case you missed our announcement from January 24, Sovereign Man has merged with Peter Schiff's media group. We are now called Schiff Sovereign, and our founder (Simon Black) has dropped the pen name and is now writing under his real name, James Hickman.]

https://www.schiffsovereign.com/trends/it-looks-like-fly-sht-to-me-150313/

Iraqi Dinar Video Update Tuesday AM 3-26-24

Iraqi Dinar Video Update Tuesday AM 3-26-24

Iraqi Dinar Set New Rate 1IQD = 5.93$ - 3:31

IMF & World Bank Increased IQD Value Today – 3:40

WOW It's Massive Update About IQD – 3:37

Dong Huge New Latest Update – 4:09

 Iraqi Dinar Set New Rate 1IQD = 5.93$ - 3:31

https://www.youtube.com/watch?v=g0l6Wjiqlos

IMF & World Bank Increased IQD Value Today – 3:40

https://www.youtube.com/watch?v=dTiVo28sfms

WOW It's Massive Update About IQD – 3:37

https://www.youtube.com/watch?v=VZvGO4VTui0

Dong Huge New Latest Update – 4:09

https://www.youtube.com/watch?v=GJpKUExsZp8

More News, Rumors and Opinions Tuesday Afternoon 3-26-2024

TNT:

CandyKisses:  BRICS Adopts Non-Dollar Payment System

Mawazine News-Baghdad

The BRICS Group is on the move to expand non-dollar payments, as Group countries seek to move away from the U.S.-controlled SWIFT banking system.

The group’s plans, which include Russia, China, Brazil, South Africa, India, Saudi Arabia, the UAE, Egypt and Ethiopia, include the creation of an international BRICS Pay payment system based on blockchain technology, i.e., based on digital assets.

It will be possible to overcome Western sanctions and obstacles thanks to this decentralized mechanism, which will include multiple currencies, and the mechanism will contribute to strengthening the economic influence of the BRICS group and accelerating the emergence of a supranational currency, which is a direct threat to the position of the US currency.

A major goal of the BRICS countries is to move away from the dollar and use national currencies in business transactions. It should be noted that 95% of trade transactions between Russia and China are in rubles and yuan.

“All of this enhances the ability to repay and strengthens economic resilience to uncertainty, uncertainty and external shocks,” says Shin Yi, head of the BRICS Research Center at Fudan University’s Development Research Institute of China.

The idea of the mechanism revolves around the creation of a special platform based on digital currencies in the countries of the "BRICS" to implement financial settlements, which will break the monopoly of the Western "SWIFT" system of financial operations around the world, and a few days ago, Russian Assistant President Yuri Ushakov revealed the intention of the "BRICS" countries to create a payment system based on digital currency technology.

With the US dollar used as a tool in sanctions and the arrival of U.S. public debt at an astronomical level, countries in the world, led by the BRICS countries, are increasing the use of national currencies in international trade.

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Tishwash:  Sanad: Washington is blackmailing Baghdad with dollars, and the Sudanese government must end the sanctions file

Independent MP Mustafa Sanad called on the government of Muhammad Shiaa al-Sudani to expedite discussions on removing foreign forces.

Sanad said in a televised interview followed by Mawazine News: “The Iraqi government must strongly adopt the Iraqi files, and the most important of these files are the foreign presence file and the banking file, stressing that there are Iraqi banks that were contributing to the activity of the economic cycle and were closed by Washington.”

He added, "The existence of some violations among these banks does not require closing them and assigning Jordanian or Gulf banks to carry out their work, and this is considered the biggest mistake."

He pointed out that "the US Federal Reserve has reduced the pumping of dollars to Iraq in the recent period, and we hope that this file will be discussed during the Sudanese's upcoming visit to Washington."  link

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man  How are they going to attract foreign investment?   They're going to open their borders with an International currency ... and they're going to rock and roll.  The signs are everywhere.  Al Sudani recently said he was going to make a change to the dinar to 1.32 dinars to the dollar, which is about $0.76.  But that doesn't include adding the Real Effective Exchange Rate.

Frank26   You've got the prime minister of Iraq already having a discussion with former President Trump.  You got the prime minister of Iraq already having a discussion with former President Bush.  It's interesting now we have the foreign minister in DC...he's talking with the United States Treasury...No one talks to anybody at the White House until April the 15th because...they're not going there to hand them the exchange rate they want to use, they're going there to activate it and tell them that's it...

The Central Bank announces an increase in dollar transfers through official channels

Nader:  3-26-2024

https://www.youtube.com/watch?v=AEFugqz142g

Banks OUT Of Cash And Start To Dump Everything, As HUNDREDS More Banks Face Failure

Atlantis Report:  3-25-2024

The financial sector is on the verge of a serious crisis, with many banks struggling due to severe cash shortages.

This has led to institutions desperately selling off assets, causing a widespread crisis that could affect the entire industry. With hundreds more banks at risk of failure, the impact of this unfolding disaster is likely to spread throughout the global economy, potentially causing an unprecedented chain reaction.

Today, we will look at the potential causes of bank liquidity crises, explore their potential domino effect on the financial system, and examine possible solutions.

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