A Lesson In Learning To Say "No"
A Lesson In Learning To Say "No"
Tim Keown ESPN Senior Writer
(Note: This Article can apply to Lotto-Winners, A Big Inheritance and Dinarians!)
HERE'S A CHALLENGE: Imagine what it feels like to be 21 years old, extremely successful, famously wealthy, wildly stressed and unbearably miserable. How, you might wonder, can all those conditions exist simultaneously?
Start here, with Cowboys All-Pro offensive tackle Tyron Smith, talking to his mother on the phone one day in 2012, his second year in the NFL, during a time of growing tension between him
"We've found a house," Frankie Pinkney told her son.
By this stage, wariness had become as intrinsic to Smith's identity as his brown eyes and bookcase shoulders. Silently, he awaited details. He had agreed to purchase a home in Southern California for his mother and stepfather. They would live in it; he would own it as an investment.
The agreed-upon budget was roughly $300,000, but over the course of the conversation, Frankie dropped the bomb. List price: more like $800,000.
Smith, now 23, is sitting at a polished wood table in the conference room of his lawyer's Dallas office. Surrounded by his girlfriend, accountant and lawyer, he fixes his eyes on a spot somewhere high on the floor-to-ceiling window. "Yeah, my parents wanted a house," Smith says. "But it was way bigger than mine and cost way more than mine."
A Lesson In Learning To Say "No"
Tim Keown ESPN Senior Writer
(Note: This Article can apply to Lotto-Winners, A Big Inheritance and Dinarians!)
HERE'S A CHALLENGE: Imagine what it feels like to be 21 years old, extremely successful, famously wealthy, wildly stressed and unbearably miserable. How, you might wonder, can all those conditions exist simultaneously?
Start here, with Cowboys All-Pro offensive tackle Tyron Smith, talking to his mother on the phone one day in 2012, his second year in the NFL, during a time of growing tension between him
"We've found a house," Frankie Pinkney told her son.
By this stage, wariness had become as intrinsic to Smith's identity as his brown eyes and bookcase shoulders. Silently, he awaited details. He had agreed to purchase a home in Southern California for his mother and stepfather. They would live in it; he would own it as an investment.
The agreed-upon budget was roughly $300,000, but over the course of the conversation, Frankie dropped the bomb. List price: more like $800,000.
Smith, now 23, is sitting at a polished wood table in the conference room of his lawyer's Dallas office. Surrounded by his girlfriend, accountant and lawyer, he fixes his eyes on a spot somewhere high on the floor-to-ceiling window. "Yeah, my parents wanted a house," Smith says. "But it was way bigger than mine and cost way more than mine."
It's not an easy topic for Smith to discuss -- recounting the conversation appears to be nearly as hard as being on the phone in the first place. He long ago gave up trying to pinpoint when it all went wrong, when the combination of family and money turned corrosive, when one ceased to exist without the other. He recites facts, stripped of emotion, as if determined to turn a painful time in his life into an after-action report.
"That call," he says. "That was the point where I said, 'That's enough.'"
At that precise moment, as he hung up the phone without giving his mother assent or encouragement, something hardened inside him. Reclaiming his finances, that was the easy part. Demystifying his new life -- being something other than a conduit for the wishes of those around him -- that was more complicated.
It works like this: We lack the linguistic dexterity to explain the myriad paths of young men who emerge from poverty -- or a simple lack of privilege -- and achieve riches by playing a game. When words fail us, a creation myth must fill the void, and so the modern professional athlete becomes our Sedna, a massive woman of Inuit legend who lives at the bottom of the ocean, controlling the underworld by providing fish to keep her people from going hungry.
Our version of Sedna frees himself from the streets -- the temptations, the poverty, the turbulent flow of every Bad Part of Town -- through a ceaseless, unquenchable devotion to his sport. Visions of The Escape accompany every rep on the bench press, every free throw in an empty gym. In short, his life is a series of made-in-Akron, Beats by Dre moments.
Yes, he will rise up to leave it all behind, but here's where the mythological sleight of hand appears: He'll bring it all with him too. He can't forget where he came from. The myth mandates loyalty and strikes down the ingrate.
And all those people who toiled alongside, those who believed in him and sheltered him and sacrificed for him? They'll also come along, for he's the sin-eater, absorbing all debts -- moral and financial -- so others can be absolved. And his people will never go hungry again.
Jeff Wilson His family's demands for money isn't an easy topic for Smith to discuss.
IT LONG AGO became easier for an athlete to subscribe to this myth than to defy it with his personal story. Easier to nod and smile and tacitly agree to be a benign receptacle for our society's need to bundle its fairy tales into color-coded boxes.
Why else would newly minted professional athletes -- and let's cut the pretense: It's nearly always young black athletes -- invariably be asked whether they've bought their mother a new house? Or a new car? Or both? Does anyone know whether Aaron Rodgers moved his stay-at-home mother and chiropractor father out of their Chico, California, home and into a beach mansion? Has anyone ever thought to ask?
But could it be possible, ever so slightly possible, that athletes who come from similar backgrounds can have wildly dissimilar stories?
Smith's story is best told chronologically. And it begins, as so many do, in a van filled with cleaning supplies rattling down a desolate highway somewhere in the Mojave Desert.
To Read Full Story Go here:
Some "Tuesday Iraq News" Posted by Clare at KTFA 4-2-2024
KTFA:
Clare: Saleh: The 2024 budget schedules are being prepared according to the tripartite budget
4/2/2024
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the financial tables for the 2024 budget are being prepared in accordance with the legislation of the three financial budgets.
Saleh told {Al-Furat News} agency, “The proposed financial schedules that are being prepared by the executive authority today are based on the financial legislation in force and approved in accordance with the aforementioned tripartite budget law.”
KTFA:
Clare: Saleh: The 2024 budget schedules are being prepared according to the tripartite budget
4/2/2024
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the financial tables for the 2024 budget are being prepared in accordance with the legislation of the three financial budgets.
Saleh told {Al-Furat News} agency, “The proposed financial schedules that are being prepared by the executive authority today are based on the financial legislation in force and approved in accordance with the aforementioned tripartite budget law.”
He stated that “presenting the financial tables for the fiscal year 2024 to obtain parliamentary approval for those tables, which include public revenues and expenditures, undoubtedly embodies a legislative path that we see in all cases as more flexible in the legislative process because the financial principles and constants have become an integral part of the Federal General Budget Law No. 13 of 2023 (the Tripartite), which is the law that was originally legislated by the House of Representatives and by a vote of the legislative authority and published in the Official Gazette last year.”
A few days ago, the Council of Ministers received the budget schedules from the Ministry of Finance, and began working on them to sign them and send them later to the House of Representatives.
The Parliamentary Finance Committee expects to resolve the budget schedules this month.
From.. Raghad Dahham LINK
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4/1/2024 Baghdad – INA
Finance Minister, Taif Sami, confirmed today, Monday, the development of plans to accelerate the pace of financial and banking reforms, while the World Bank indicated continued serious and fruitful cooperation with the Iraqi government.
The Ministry of Finance said in a statement received by the Iraqi News Agency (INA): “Minister of Finance, Taif Sami, received today the Regional Director for the Middle East at the World Bank, Jean-Christophe Carré, the Special Representative of the Bank in Iraq, Richard Abdel Nour, and a number of experts and specialists.”
She added, "During the meeting, priorities for development projects and ways to support the World Bank to strengthen the financial and business sectors and improve the investment environment were discussed," noting, "It was emphasized that continued bilateral coordination to promote sustainable development was discussed, in addition to discussing the Bank's support for the government program for economic reform in Iraq." ".
The Minister of Finance referred to the Ministry's efforts and plans towards accelerating the pace of financial and banking reforms in line with the Iraqi government's vision aimed at consolidating the foundations of the national economy, creating economic balance, and correcting the course of financial policy in Iraq.
For his part, the bank representative pointed out "the continuation of serious and fruitful cooperation with the Iraqi government, in everything related to providing the necessary support in terms of expertise for development projects and reforms related to the financial and business sector." LINK
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Clare: Iraq’s banking system grows 15.1% in 2023 to $156.7 billion
March 31, 2024
Baghdad (IraqiNews.com) – By the end of 2023, the total assets of the Iraqi banking system had grown by 15.1% annually to $156.7 billion. This was mostly driven, according to Rabee Securities, by the 15.3% increase in deposits to $101.9 billion.
The largest contributor to overall deposit growth was current deposits, which increased 17.2% to $82.1 billion and accounted for 80.5% of all deposits in the banking system.
Additionally, the total deposits of the private sector climbed by 14.7% in 2023 to reach $43.2 billion, while the deposits of Iraq’s Central Government increased by 22.7% to $36.1 billion and the deposits of public institutions increased by 6.1% to $22.6 billion.
“As a measure to control the FX flow into the banking system, the CBI now allows a limited number of banks to participate in the CBI foreign currency window and engage in USD transactions,” said Aysegul Ozge Ozgur, Head of Research at Rabee Securities
“National Bank of Iraq, Bank of Baghdad, and Al-Mansour Bank are among these banks that have been permitted to engage in such activities, thus, they are benefiting from an expanded market share in USD transactions,” added Ozgur.
There are 61 commercial banking institutions in Iraq, according to Rabee Securities, made up of 54 private banks (25 non-Islamic and 29 Islamic) and 7 state banks (one Islamic and six non-Islamic).
In terms of Return on Average Equity (ROAE) and Return on Average Assets (ROAA), the National Bank of Iraq, Bank of Baghdad, and Al-Mansour Bank are among the most profitable ISX-listed banks. In 2023, their balance sheets and income statements showed remarkable development. LINK
Clare: Launching a new trading indicator
4/2/2024 Baghdad/
The Iraq Stock Exchange and the Securities Commission announced today, Tuesday, the imminent launch of a new index for stock trading.
A statement by the Commission and the Market, received by Iraq Observer, stated that “the Securities Commission and the Iraqi Stock Exchange, after studying, analyzing and measuring the market index of traded stock prices, are preparing to launch a new index that operates under the title ISX15.”
The statement added, “The work and analysis team at the Securities Commission and the Iraqi Stock Exchange focused on measuring the new index and testing it on the experimental environment, and then starting the test on the real environment according to the most important principles, the most important of which is selecting a sample of companies for the best 15 companies in terms of continuing daily trading, as well as choosing the company’s weight.”
Based on the market value of the free float shares, provided that the effect does not exceed 20% at best for a single company as a maximum, and adopting the same prevailing base session for the ISX60 index after adjusting its weight based on the free float shares, as well as other additional variables that will be presented in the index guide.” LINK
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Clare: The Central Bank of Iraq clarifies the mechanism for depositing oil revenues abroad
4/2/2024- Baghdad
The Central Bank of Iraq revealed the mechanism for depositing oil revenues abroad, in response to a parliamentary question on the subject.
The document stated that the legal basis for depositing oil revenues in the “IRAQ2” account with the Federal Reserve Bank in New York is the expiration of the extension of Executive Order issued by the US President No. 13303 in 2003, which granted immunity to Iraqi funds deposited in the “DFI” account.
Deputy Governor of the Central Bank, Ammar Hamad, explained that the “IRAQ2” account is used to deposit funds for Iraqi crude oil exports, and they are transferred to the Central Bank of Iraq’s account at the Federal Reserve Bank within 24 hours of receiving them.
He stressed that this mechanism ensures that the funds are not exposed to creditor claims, as they are funds belonging to the Iraqi government derived from the export of crude oil.
He added that a memorandum of understanding was signed between the Iraqi Ministry of Finance and the Central Bank of Iraq in 2014 regulating the work of the “IRAQ2” account, and that this memorandum is the legal basis for establishing the aforementioned account.
He pointed out that the immunity granted in accordance with the memorandum of understanding includes sovereign funds only, and does not include funds used for commercial purposes.
He explained that Iraq's foreign reserves are deposited with several external parties, including central banks and financial institutions, and are not limited to the Federal Reserve Bank.
He pointed out that the interest rates on these deposits vary according to the investment segment, the duration of the investment, and the institution with which the investment is made.
Finally, he explained that the company transporting the dollar from the Federal Reserve Bank to Baghdad International Airport is Orient, and that the insurance amount for one shipment is 414,000 US dollars, and that the transportation fees are 216,310 US dollars LINK
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Clare: Parliamentary Integrity: A five-member committee to recover Iraqi Trade Bank funds owed by individuals and companies
4/2/2024
The Parliamentary Integrity Committee decided to form a five-member committee to recover the money taken from the Trade Bank of Iraq (TBI).
The Vice-Chairman of the Committee, Alia Nassif, stated in a press statement today, Tuesday, that: “It was decided to form a five-member committee to recover the funds taken from the Trade Bank of Iraq (TBI), and this took place during the hosting of the head of the bank, Bilal Sabah, to coordinate between the Parliamentary Integrity Committee and the bank for the purpose of recovering the funds.”
Which are owed by individuals and companies, and companies that are late in paying what they owe were reviewed, and it was agreed to coordinate with the judicial authorities with regard to issuing judicial rulings against those who are delinquent in paying, as well as coordination with the Ministry of Justice, especially the two enforcement departments, with regard to accelerating the implementation of judicial rulings on those who are late in paying.”
She added, “It has been agreed to coordinate with the Real Estate Registration Department regarding the sale of mortgaged properties for the purpose of recovering the bank’s money, and it is expected in the coming days to issue judicial orders, ban travel, seize funds, and circulate them to all government departments.”
She explained, “Some individuals and companies that owed money belonging to the bank, which was revealed last week (within the first batch), began paying off the debts after this file was moved by parliament, while the second batch includes an Islamic bank, 8 companies, and one person.” LINK
MarkZ Monday PM and Tuesday AM-RV related news
PDK Note: Monday Night MarkZ podcast was very political so was not posted…..but here is a brief synopsis of the Monday Night RV intel Mark shared.
Member: did you get any great news from bond contacts today Mark?
MZ: As a matter of fact - I had a bond contact that had a meeting today just tell me he is under an NDA . He had told me awhile ago he would never take an NDA unless they gave him dollars! And he went under an NDA today.
MZ: My other bond contacts – one had a meeting delayed and some have not responded yet.
MZ: I was hoping for some rock solid confirmations today but they have not come in yet.
Member: What kind of bonds?
MZ: These are Historic bonds. These are super Petchelli bonds…..which is what the person was holding who just went quiet on me today. I hope this means he has money in hand.
PDK Note: Monday Night MarkZ podcast was very political so was not posted…..but here is a brief synopsis of the Monday Night RV intel Mark shared.
Member: did you get any great news from bond contacts today Mark?
MZ: As a matter of fact - I had a bond contact that had a meeting today just tell me he is under an NDA . He had told me awhile ago he would never take an NDA unless they gave him dollars! And he went under an NDA today.
MZ: My other bond contacts – one had a meeting delayed and some have not responded yet.
MZ: I was hoping for some rock solid confirmations today but they have not come in yet.
Member: What kind of bonds?
MZ: These are Historic bonds. These are super Petchelli bonds…..which is what the person was holding who just went quiet on me today. I hope this means he has money in hand.
Tuesday Morning Podcast RV related information
MarkZ Update- 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 morning all... hoping everyone has an amazing day
Member: Any thoughts on why we are still here waiting on this? Seems very weird to me.
Member: IMO Someone or something is still stopping everything from moving forward.
Member: Hey Mark, any overnight information on any more bonds being paid out?
MZ: I do have a couple more with appointments today. The first appointment is around 3:00est.
Member: If the bond info is true- what is the timeline for us?
MZ: 3-10 days. If what I believed happened….really happened. I am still searching for confirmation of that.
Member: What is the relationship between bonds historic bonds being paid and the RV?
Member: Bonds are supposed to pay out just before its our turn to go exchange. That is why Mark watches them
MZ: “China’s Vanke shares hit record lows after disappointing earnings , payout cut” and Country Gardens is on the ropes….”Country Gardens suspends shares in Hong Kong “ It was crashing so hard they were suspended.
MZ: “Citibank lays off 430 employees in New York across units” They are scrambling to change their business model. They seem to be investing heavily in “Wealth Management offices”
Member: I have an appointment with WF wealth management this week I’m going to see what they say, I will keep you posted on the outcome.
Member: the markets are in the red today……
Member: Is there a tipping point for the markets? A point that is their “point of no return” as it pertains to losses and a potential crash?
Member: Was the St Germaine Trust opened on Easter ….???
Member: I guess no……or we would all know about it by now.
Member: I feel like I’m next in line to cash out my lottery ticket and the power went off……
Member: Mark, what are your thoughts that maybe we've been duped??
Member: At the very least Iraq dinar is very undervalued….and they will have to eventually raise their rates….even if its not as much as dream about……I’m hoping for at least 1 to 1 with the USD.
Member: Am I the only one who can't wait for RV just to prove to hubby I'm not wrong? LOL
Membere: I know I am sick of people thinking I’m crazy for believing the RV is real…..would love to say “I told you so”!!!
Member: Praying this is our week to celebrate…Hang in there everyone.
Member: Could Apr 8 be the day? The Solar Eclipse. A once in 2000 yr event typically the fall of empires and a new birth for power on Earth.
Member: Mark, as always thank you for all the latest news and updates.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&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
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Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
MARK’S TELEGRAM ROOM FOR WORLD NEWS EVENTS & CHAT? LINK: https://t.me/TrollingNews_telegram
THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!
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.
Iraq Economic News and Points to Ponder Tuesday AM 4-2-24
Iraq Economic News and Points to Ponder Tuesday AM 4-2-24
Tlm724 Administrator Bondlady’s Corner
The Central Bank Warns Against Closing Iraq's Account With The US Federal Reserve: It Will Put Our Money At Risk (Documents)
Economy breaking Central Bank of Iraq US Federal Reserve 2024-04-01 10:24
Shafaq News/ On Monday, the Central Bank of Iraq revealed the legal basis for depositing oil revenues in the US Federal Reserve. According to documents issued by the bank and viewed by Shafaq News Agency,
“The legal basis for depositing oil revenues in the Federal Reserve Bank of New York in the IRAQ2 account alternative to the DFI account is the expiration of the extension of the Executive Order issued by the US President No. 13303 issued in March 2003.”
According to which immunity was granted to the Iraqi funds deposited in the Iraqi Development Account (DFI) at the time, and the end of the United Nations protection over Iraqi funds that was granted to it under UN Security Council Resolution No. 1483 of 2003 after the issuance of UN Resolution 1956 at the end of 2010.
The documents added, "Accordingly, an IRAQ2 account was opened, which is used to deposit funds from Iraqi crude oil exports, and they are transferred to the account of the Central Bank of Iraq at the Federal Reserve Bank within 24 hours of receiving these amounts to ensure that they are not exposed to the claims of creditors, as they are funds belonging to the Iraqi government derived from the export of crude oil."
Iraq Economic News and Points to Ponder Tuesday AM 4-2-24
Tlm724 Administrator Bondlady’s Corner
The Central Bank Warns Against Closing Iraq's Account With The US Federal Reserve: It Will Put Our Money At Risk (Documents)
Economy breaking Central Bank of Iraq US Federal Reserve 2024-04-01 10:24
Shafaq News/ On Monday, the Central Bank of Iraq revealed the legal basis for depositing oil revenues in the US Federal Reserve. According to documents issued by the bank and viewed by Shafaq News Agency,
“The legal basis for depositing oil revenues in the Federal Reserve Bank of New York in the IRAQ2 account alternative to the DFI account is the expiration of the extension of the Executive Order issued by the US President No. 13303 issued in March 2003.”
According to which immunity was granted to the Iraqi funds deposited in the Iraqi Development Account (DFI) at the time, and the end of the United Nations protection over Iraqi funds that was granted to it under UN Security Council Resolution No. 1483 of 2003 after the issuance of UN Resolution 1956 at the end of 2010.
The documents added, "Accordingly, an IRAQ2 account was opened, which is used to deposit funds from Iraqi crude oil exports, and they are transferred to the account of the Central Bank of Iraq at the Federal Reserve Bank within 24 hours of receiving these amounts to ensure that they are not exposed to the claims of creditors, as they are funds belonging to the Iraqi government derived from the export of crude oil."
This mechanism was organized through a (memorandum of understanding) signed between the Iraqi Ministry of Finance and the Central Bank of Iraq on 6/2/2014 for the purpose of organizing the work of the IRAQ2 alternative account for the Development Fund for Iraq, and this memorandum is the legal basis for establishing the aforementioned account.
She continued, "The immunity granted in accordance with these two documents includes sovereign funds only and does not include funds used for commercial purposes."
The documents explained, “With regard to the answer to the third paragraph, foreign reserves may be deposited with several external parties, central banks and financial institutions, and not only in the Federal Reserve Bank, and interest rates vary according to the investment segment, the duration of the investment, and the institution with which the investment is made,
in addition to the fact that the transport company is Orient is the company contracted by this bank to transport dollar shipments from the Federal Reserve Bank to Baghdad International Airport, with an insurance amount of (414,000) US dollars (four hundred and fourteen thousand US dollars per shipment, and transportation fees of (216,310) US dollars (two hundred and sixteen thousand three hundred and ten US dollars, Department of Parliamentary Affairs, Department of Parliamentary Oversight.” She continued,
"It is not possible to transfer the revenues from the sale of oil to the interior due to the impossibility of carrying out financial operations for Iraq if the funds are at home, and
closing our account with the Federal Reserve Bank could expose Iraq to the risk of international claims,
in addition to the inability to settle our payments in US dollars without the presence of... An account at the Federal Reserve Bank or other U.S. commercial bank.
https://media.shafaq.com/media/arcella/1711995857611.jpeg
https://media.shafaq.com/media/arcella/1711995858300.jpeg
https://shafaq.com/ar/اقتصـاد/البنك-المركزي-يحذر-من-غلق-حساب-العراق-لدى-الفيدرالي-ال-مريكي-سيعرض-موالنا-للخطر-وثا-ق
The Central Bank Of Iraq Clarifies The Mechanism For Depositing Oil Revenues Abroad
Logo of the Central Bank of Iraq Drains Economy News – Baghdad The Central Bank of Iraq revealed the mechanism for depositing oil revenues abroad, in response to a parliamentary question on the subject.
The document stated that the legal basis for depositing oil revenues in the “IRAQ2” account with the Federal Reserve Bank in New York is the expiration of the extension of Executive Order issued by the US President No. 13303 in 2003, which granted immunity to Iraqi funds deposited in the “DFI” account.
Deputy Governor of the Central Bank, Ammar Hamad, explained that the
“IRAQ2” account is used to deposit funds for Iraqi crude oil exports, and they are transferred to the Central Bank of Iraq’s account at the Federal Reserve Bank within 24 hours of receiving them. He stressed that
this mechanism ensures that the funds are not exposed to creditor claims, as they are funds belonging to the Iraqi government derived from the export of crude oil.
He added that a memorandum of understanding was signed between the Iraqi Ministry of Finance and the Central Bank of Iraq in 2014 regulating the work of the “IRAQ2” account, and that this memorandum is the legal basis for establishing the aforementioned account.
He pointed out that the immunity granted in accordance with the memorandum of understanding includes sovereign funds only, and does not include funds used for commercial purposes.
He explained that Iraq's foreign reserves are deposited with several external parties, including central banks and financial institutions, and are not limited to the Federal Reserve Bank.
He pointed out that the interest rates on these deposits vary according to the investment segment, the duration of the investment, and the institution with which the investment is made.
Finally, he explained that the company transporting the dollar from the Federal Reserve Bank to Baghdad International Airport is Orient, and that the insurance amount for one shipment is 414,000 US dollars, and that the transportation fees are 216,310 US dollars.
https://economy-news.net/ckfinder/userfiles/images/1711995857611.jpeg
https://economy-news.net/ckfinder/userfiles/images/1711995858300.jpeg
120 views Added 04/02/2024 - https://economy-news.net/content.php?id=42099
Why Lift Partial Government Support?
Economical 04/01/2024 Yasser Al-Metwally
Why lift partial government support? Is it linked to public finance reform?
The recent government decision to raise gasoline prices sparked widespread controversy and analyzes went in various ways.
Let us discuss the matter from the economic point of view of the decision, and based on our first reading of it, it became clear that
it was consistent with the vision and requirements of the International Monetary Fund, which stipulates that in order to achieve reforms, increasing government support by adopting tax policies that help diversify sources to enhance annual budgets.
From this standpoint, on which all capitalist and socialist theories are based, the process of capital turnover aims to redistribute income fairly among segments of society.
This requires
imposing tax policies and
enhancing and
diversifying state revenues,
but these procedures are applied in countries that enjoy high stability.
Therefore, the timing of this decision may be considered inappropriate for the complex circumstances that the country is going through, especially market instability and structural distortions in the image of the Iraqi economy.
This is accompanied by a weakness in the economic culture that makes any decision regarding support face dissatisfaction.
Perhaps the reason for this weakness in the economic culture is due to the lack of transparency in the directions of tax revenues and their spending.
It is known that the capital cycle is based on the adoption of tax revenues, as I mentioned above, and
it goes in two important areas, the first of which is the
redistribution of income among citizens according to their standards of living, and the second is that one of the
government’s duties is to provide services in exchange for the amount of taxes it receives from taxpayers.
This is how economic theory works in all countries of the world.
The lack of transparency means the lack of clarity about the
size of tax revenue in the budget and the
ways of distributing it among services, as well as its
support for vulnerable segments.
This absence resulted in a weakness in the economic culture and its depth among the citizen,
which makes him not accept any decision related to increasing taxes or removing government support because
he is not aware of the directions of spending this money, which should go towards providing the best services to him.
The instability of the exchange rate along with the stability of wages and salaries leads to an impact on purchasing power.. How?
This is because the Iraqi market is accustomed to exploiting rumours.
Any decision is exploited by some merchants, thereby raising prices, and
the effect of this is to create dissatisfaction,
which is sometimes exploited by some at a time when the government has begun to find preliminary solutions, gain the satisfaction of the citizen, and talk about truly tangible achievements.
Therefore, we see the necessity of postponing the implementation of this decision until another time when
market stability and prices are achieved and the
standard of living improves and until the
citizen witnesses the results of the government’s efforts in implementing broad government service projects on the ground, which is nothing more than a point of view.
Then we, the economic media community, can convince the citizen that these projects require that he contribute to their perpetuation through his compliance with correct and sound economic decisions.
https://alsabaah.iq/94400-.html
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
Provoking Points To Ponder On Failures and Mistakes
War is a series of catastrophes that results in victory.- Georges Clemenceau
Victory goes to the player who makes the next-to-last mistake.- Anonymous
A man finds he has been wrong at every stage of his career, only to deduce the astonishing conclusion that he is at last entirely right.- Robert Louis Stevenson
One loss is good for the soul. Too many losses are not good for the coach.- Knute Rockne
In all science, error precedes the truth, and it is better it should go first than last.- Hugh Walpole
In the game of life it's a good idea to have a few early losses, which relieves you of the pressure of trying to maintain an undefeated season.- Bill Vaughan
http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html
Iraqi Dinar Video Update Monday Late Evening 4-1-24
Iraqi Dinar Video Update Monday Late Evening 4-1-24
WOW Today Chase Bank Exchange Rate – 3:28
Iraqi Dinar Iraqi Dinar Big Massive Update – 3:56
Iraqi Dinar Video Update Monday Late Evening 4-1-24
WOW Today Chase Bank Exchange Rate – 3:28
Iraqi Dinar Iraqi Dinar Big Massive Update – 3:56
WOW Today Chase Bank Exchange Rate – 3:28
Iraqi Dinar Iraqi Dinar Big Massive Update – 3:56
"Tidbits From TNT" Tuesday Morning 4-2-2024
TNT:
CandyKisses: Parliamentary Finance: The budget tables are still with the government and 20 days to approve them in Parliament
{Economic: Euphrates News} A member of the parliamentary finance committee, Jamal Kojar, expected that the schedules will take 20 days in parliament after they arrive from the government for approval.
In a press statement, Koger stated that "the 2024 budget tables have not reached the House of Representatives so far because they are still on the cabinet table."
He added that "a tripartite budget has been approved, and we have given the authority to the government to spend the 2023 budget, while the 2024 and 2025 budgets must be reviewed by parliament because some projects ended last year, so they must be removed from the 2024 and 2025 budgets," stressing that "the schedules are not fixed because oil prices and financial resources fluctuate, and the number of employees and retirees is increasing."
TNT:
CandyKisses: Parliamentary Finance: The budget tables are still with the government and 20 days to approve them in Parliament
{Economic: Euphrates News} A member of the parliamentary finance committee, Jamal Kojar, expected that the schedules will take 20 days in parliament after they arrive from the government for approval.
In a press statement, Koger stated that "the 2024 budget tables have not reached the House of Representatives so far because they are still on the cabinet table."
He added that "a tripartite budget has been approved, and we have given the authority to the government to spend the 2023 budget, while the 2024 and 2025 budgets must be reviewed by parliament because some projects ended last year, so they must be removed from the 2024 and 2025 budgets," stressing that "the schedules are not fixed because oil prices and financial resources fluctuate, and the number of employees and retirees is increasing."
Koger added that "any law must go through three stages until it is approved, the first stage begins in the concerned committee, the second is public discussions in the council, and the third is voting," noting that "there is no approval or amendment to any law before it passes through the three stages."
Koger concluded by saying that "the general budget law takes (20-40) days," predicting that "schedules will take shorter."
A few days ago, the Council of Ministers received the budget tables from the Ministry of Finance, and work began on them to sign them and send them later to the House of Representatives.
Tishwash: Baghdad-Washington dialogue: Will the US withdrawal file from Iraq be resolved?
A new round of dialogue is being held between Baghdad and Washington, the fourth since last February, to discuss the issue of the American withdrawal from Iraq and ending the role of the international coalition to fight ISIS. This tour comes ahead of the visit of Iraqi Prime Minister Muhammad Shia al-Sudani to the White House.
Challenges:
This round of dialogue faces many challenges, the most important of which are:
The lack of a clear consensus on the feasibility of withdrawal: Iraqi views on withdrawal differ, between those who see the necessity of the withdrawal of all American forces, and those who see the importance of some of them remaining to support the Iraqi forces in the fight against terrorism.
The position of the American administration: The American administration did not announce a clear position on withdrawal, while the statements of its officials indicate their desire to redraw the coalition’s tasks or for the forces to remain for additional years.
Pressure from armed factions: Some Iraqi armed factions continue their attacks against American forces, demanding their complete withdrawal from the country.
Discussions:
The discussions between Baghdad and Washington address many points, the most important of which are:
Evaluating the international coalition’s mission: The fourth round evaluates the need for the international coalition’s presence in Iraq.
Setting a timetable for withdrawal: Baghdad is demanding that a clear timetable be set for US withdrawal.
Determining the nature of American support for Iraq: The tour discusses the nature of the support that the international coalition will provide to Iraq after its withdrawal.
The issue of the withdrawal of US forces from Iraq remains complex, and requires further dialogue and negotiation between Baghdad and Washington. link
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CandyKisses: The Central Bank reveals the reason for depositing Iraqi oil money in America
Baghdad - Iraq Today:
The Central Bank of Iraq revealed the legal basis for depositing oil revenues in the US Federal Reserve.
According to documents issued by the Central Bank, "the legal basis for depositing oil revenues at the Federal Reserve Bank of New York in the IRAQ2 alternative account to the DFI account is the expiration of the extension of the US President's Executive Order No. 13303 issued in March 2003, which granted immunity over Iraqi funds deposited in the then DFI Iraq Development Account, and the end of the United Nations protection over Iraq's funds that were granted to it under the UN Security Council Resolution No. 1483 of 2003 after the issuance of UN Resolution 1956 at the end of 2010."
The documents added, "Accordingly, the IRAQ2 account was opened, which is used to deposit the funds of Iraqi crude oil exports and is transferred to the account of the Central Bank of Iraq with the Federal Reserve Bank within a period of 24 hours from the receipt of these amounts to ensure that they are not exposed to the claims of creditors as they are funds belonging to the Iraqi government derived from the export of crude oil, and this mechanism has been organized through a (memorandum of understanding) signed between the Iraqi Ministry of Finance and the Central Bank of Iraq on 2/6/2014 for the purpose of organizing the work of the alternative IRAQ2 account. for the account of the Development Fund for Iraq and that this memorandum is the legal basis for the establishment of the said account."
"The immunity granted under these two documents covers sovereign funds only and does not include funds used for commercial purposes."
The documents explained, "With regard to the answer to the third paragraph, foreign reserves may be deposited with several external parties, central banks and financial institutions, and not only based in the Federal Reserve Bank, and that interest rates vary according to the investment segment, the duration of the investment and the institution with which the investment is made, in addition to that the carrier company is Orient Company, which is contracted with this bank to transport dollar shipments from the Federal Reserve Bank to Baghdad International Airport and with a security amount of (414,000) US dollars (four hundred and fourteen thousand dollars). US per shipment, and transportation fees of (216,310) US dollars (two hundred and sixteen thousand three hundred and ten US dollars) Department of Parliamentary Affairs, Parliamentary Oversight Section.
She added that "it is not possible to transfer the revenues of the sale of oil to the interior because of the impossibility of carrying out financial operations for Iraq if the money is at home, and closing our account with the Federal Reserve Bank can expose Iraq to the risk of international claims, in addition to the inability to settle our payments in US dollars without an account in the Federal Reserve Bank or another US commercial bank."
Mot: ....... Here We Go Again!!!!
Mot: . Cabin in Alaska for rent, lovely view.
News, Rumors and Opinions Tuesday AM 4-2-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 2 April 2024
Compiled Tues. 2 April 2024 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
Sun. 31 March Frank 26: “The Iraqi Minister of Finance is in Washington DC, but he’s not there to see the president of the United States. He’s there to deal with the exchange rate of their country, not with the American dollar.”
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 2 April 2024
Compiled Tues. 2 April 2024 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
Sun. 31 March Frank 26: “The Iraqi Minister of Finance is in Washington DC, but he’s not there to see the president of the United States. He’s there to deal with the exchange rate of their country, not with the American dollar.”
Sat. 30 March Ginger: “We’re hearing that the revaluation of the rate is currently underway inside the border of Iraq. The Parliament committee has instructed Iraqi merchants and retailers to adjust their prices of goods and services, effective this weekend, to reflect the changes of their new rate for the Iraqi Dinar. My crystal ball is broken but I have a hopeful hunch they will do like Kuwait did, all those years ago. Kuwait wanted to change their rate inside the country first, privately, for the citizens to enjoy and celebrate their advancement onto the international stage. After several days, the new rate went live, internationally on the FOREX for the whole world to see!”
April Hong Kong Launches Tokenized Gold: https://coingeek.com/hsbc-launches-tokenized-gold-for-retail-customers-in-hong-kong/
Global Financial Crisis:
The Cabal’s SWIFT Planning Launch of New Central Bank non-asset backed Digital Currency Platform in 12-24 Months.
BRICS Ditches, Murders the US Dollar: https://www.cryptopolitan.com/how-us-be-affected-when-brics-ditch-dollar/
Federal Reserve posts record loss of $114 billion in 2023. The Federal Reserve has been closed for about three years and hasn’t printed any new currency since at least 2019. https://t.me/CharlieWardFriends
Baltimore Bridge Collapse: Nearly 5,000 trucks crossed the Francis Scott Key Bridge daily, according to the American Trucking Association. That adds up to $28 billion in goods crossing annually. The collapse has effectively shut down the Port of Baltimore, which is one of the busiest in the U.S. Last year, the port handled $80 billion of cargo. Many areas and industries are feeling the ripple effect. The York County Economic Alliance said 40 million tons of freight comes into the county each year from Maryland, while 38 million tons heads out.
Read full post here: https://dinarchronicles.com/2024/04/02/restored-republic-via-a-gcr-update-as-of-april-2-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Ramadan is over on the 8th. Then we have EID holiday from the 8th to the 14th and then on the 15th Sudani is supposed to go to Washington D.C...It's time to get a little excited...
Militia Man Why in the world would anybody want to invest into Iraq if they were going to put their money into Iraq and then they were going to lose? Because if you invest your money in Iraq and they LOP their currency you're not going to make any money, it's a neutral event.
Walkingstick [Report from #1 - his Iraqi bank owner friend in Iraq and in our opinion] The HCL has been long done! ....Article 140 and the disputed territories, done! The redenomination at the onset, that rate is done! Awaiting nothing but the release and implementation of all of this.
Why People Invest in the Iraqi Dinar IQD
Edu Matrix: 4-2-2024
There are several different reasons people invest in the Iraqi Dinar, this video shares those reasons.
LIVE! Are You Ready? Goldman Sachs WARNS On Stocks... PLUS! The Economic FREEFALL WORSENS.
Greg Mannarino: 4-1-2024
Currency Insider Iraqi Dinar – Dong Monday Evening 4-1-24
Currency Insider Iraqi Dinar – Dong Monday Evening 4-1-24
Iraqi Dinar Final Call For Final rates - 2:14
Iraqi dinar announcement has been suddenly changed – 2:16
Currency Insider Iraqi Dinar – Dong Monday Evening 4-1-24
Iraqi Dinar Final Call For Final rates - 2:14
Iraqi dinar announcement has been suddenly changed – 2:16
Iraqi Dinar Final Call For Final Update About USA Restrictions On Iraq rates – 2:14
Iraqi dinar announcement has been suddenly changed – 2:16
Iraqi Dinar Today Video Updates Monday Evening 4-1-24
Iraqi Dinar Today Video Updates Monday Evening 4-1-24
Update About USA Restrictions On Iraq – 3:32
WOW WOW Chase Bank & Wells Fargo Finally Approved Dinar, Zim & Dong Revaluation – 3:24
Iraqi Dinar Today Video Updates Monday Evening 4-1-24
Update About USA Restrictions On Iraq – 3:32
WOW WOW Chase Bank & Wells Fargo Finally Approved Dinar, Zim & Dong Revaluation – 3:24
WOW WOW Chase Bank & Wells Fargo Finally Approved Dinar, Zim & Dong Revaluation – 3:24
Iraqi Dinar Video Update Monday Evening 4-1-24
Iraqi Dinar Video Update Monday Evening 4-1-24
WOW Congrats Iraqi Dinar Big Massive Exchange Rate – 3:15
Amazing Iraqi Dinar Revaluation Last 24 Hours – 3:44
Iraqi Dinar Big Statement 3 Zero Removed – 3:06
Iraqi Dinar Video Update Monday Evening 4-1-24
WOW Congrats Iraqi Dinar Big Massive Exchange Rate – 3:15
Amazing Iraqi Dinar Revaluation Last 24 Hours – 3:44
Iraqi Dinar Big Statement 3 Zero Removed – 3:06
WOW Congrats Iraqi Dinar Big Massive Exchange Rate - 3:15
Amazing Iraqi Dinar Revaluation Last 24 Hours – 3:44
Iraqi Dinar Big Statement 3 Zero Removed – 3:06
VELOCITY OF MONEY From Recaps Archives
Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team
VELOCITY OF MONEY - From Virginia Gentleman
I know I don’t have to state the obvious …GO HAVE FUN WITH SOME OF YOUR NEW FOUND WEALTH. However, I would like to pass on some words of wisdom.
As we get ready to punch it in, please remember to act like you’ve been in the End Zone before. Take a deep breath and exhale slowly as you collect yourself with the full intentions of acting with class and integrity.
Respectful treatment of others will be an inherent responsibility of your new status, as well as respectful treatment of your money and assets. You owe this to yourself, your family, your neighbors, and your heirs.
Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team
VELOCITY OF MONEY - From Virginia Gentleman
I know I don’t have to state the obvious …GO HAVE FUN WITH SOME OF YOUR NEW FOUND WEALTH. However, I would like to pass on some words of wisdom.
As we get ready to punch it in, please remember to act like you’ve been in the End Zone before. Take a deep breath and exhale slowly as you collect yourself with the full intentions of acting with class and integrity.
Respectful treatment of others will be an inherent responsibility of your new status, as well as respectful treatment of your money and assets. You owe this to yourself, your family, your neighbors, and your heirs.
Don’t hoard it, and on the other hand, don’t waste it or give it all away. Save, invest, and spend wisely.
One of the single best things you can do with a small portion, and in effect a very small portion, is to be more generous over at least the next 18-24 months (or the longer) spending your money locally. What do I mean? The answer is the ‘VELOCITY OF MONEY’.
The Velocity of Money is a fairly simple financial concept where a ‘community’ can be positively impacted by the way a group of individuals increase the spending of their money in their economy, and in turn, the ripple effect of that spending as it accelerates throughout that same economy.
It can be local, regional, national, and even global. Velocity of money is most effective in a smaller market with the smaller more predictive population of a local economy, and it isn’t just effective, it is fun for the people spending their increased earnings, or in this case, significant returns on an investment. Yep, that is you!
Anyone who has ever lived in a small town or Suburban area where a new large company has come in and opened a large facility and hired a large amount of employees has witnessed this phenomenon.
Money gets pumped in and spending from increased disposable income begins to spread out through the entire community finding its way into the wallets of all the inhabitants.
The goal is to spend your money at local establishments on services, appliances, home improvements, food, entertainment, and such.
More precisely on things like tipping an extra 5-15 percent, using a valet to park at the local steakhouse (tipping extra), go hear a local band (put money in the tip jar), buy cheese or pork or beef at a farmers market instead of 2 month old shrink wrapped processed cheese from a Big Box store or grocer, get an extra manicure or haircut (tipping extra!), get your car repaired at the mechanic down that side road instead of Walmart or the Dealer, buy those nicer hiking boots ‘Made In America’.
Get your computer cleaned up by that geek in the shop she set up in the old 7-11 building, buy your lumber from the local milled lumber supplier not the National Chain hardware store, deal with a local community bank or credit union with a substantial portion of your money… you get it now right.
Think about it. You may be spending either the same amount or perhaps an extra 10-20%, and you’re getting the same things… OFTEN WITH THE BONUS OF MUCH HIGHER QUALITY PRODUCTS WHILE GETTING TO KNOW YOUR NEIGHBORS ON MAIN STREET!!!
I personally look forward to trying some of the world’s best Craft Breweries in Richmond (tipping generously) and touring some of Virginia’s wineries (tipping generously)… jealous of you Kentucky folks that can tour the best ‘Bourbon’ distilleries on the planet, or you ‘Whiskey’ lovers in Tennessee just outside of Fayetteville down the Admiral Frank B Kelso highway or those in Nashville who can wander in a restaurant and catch a ‘local’ band like Kenny Chesney, lol. Believe it!
By doing this the dominoes of positive change begin to fall within your local community. The ripple effect is that the waiters, mechanics, manicurists, hairstylists, valet, carpenter, plumber, artisan cheesemaker, farmer, and others in your community begin to make more money.
And what do they do? They go out and spend more, tip more, consume more. Your local tax authority makes more sales tax revenue and spends it on improvements.
I’m in America, but the Velocity of Money is true in Canada, Great Britain, Iraq, Vietnam, or anywhere. And guess what? Since this is fun stuff you’ll be doing while spending your hard earned money, you will also be wearing a BIG smile.
There is nothing more infectious and quick to spread goodwill than passing on your smile accompanied by kind words. So be wise with your prosperity and have some fun …LOCALLY.
Even pay attention to those companies being loyal corporate citizens to us through the new incentives to stay and manufacture here, and be loyal to them.
The fruit you bear will fall from your tree and spread its seeds…
Live and grow in the nine fruits of the Spirit and you will sow the nine fruits…
Love, Joy, Peace, Patience, Kindness, Goodness, Gentleness, Faithfulness, and Self-Control.
Take care –Virginia Gentleman