Iraq Economic News and Points to Ponder Late Monday Evening 5-6-24

Iraq Economic News and Points to Ponder Late Monday Evening 5-6-24

“The Shocks Have Changed.” The Governor Of The Central Bank Explains The Impact Of The Openness Of Iraqi Banks On Their International Counterparts

Economy News – Baghdad  On Monday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, highlighted the impact of the openness of Iraqi banks on their international counterparts, while noting that the global economy has begun to face a phase characterized by rising levels of public and private debt.

Al-Alaq, in his speech at the conference “The Challenges Facing Iraqi Banks in Complying with International Laws and Legislation and Meeting the Requirements of Correspondent Banks,” followed by “Al-Iqtisad News,” said, “Central banks have faced increasing challenges after decades of appearances and are closer to quiescence starting with the decline in interest rates.” and inflation,” pointing out that “the global economy has begun to face a phase characterized by rising levels of public and private debt.”

He added, "The nature of local, international and historical shocks has changed due to an increase or decrease in demand, with the exception of supply shocks, in addition to new challenges represented by financial stability in public financial policy and the financial control decision that requires reducing spending or increasing domestic revenues."

The Governor of the Central Bank explained, “Over the past years, the Iraqi banking sector has opened up to local financial institutions over their international counterparts, and to the extent that all of this achieves communication and attention with the outside world, it undoubtedly carries many challenges and impacts.”

Ali Al-Alaq continued: “We hope that this conference will succeed in reaching effective solutions to this challenge and devoting cooperation and coordination between Arab central banks, Arab expenditures and non-banking financial institutions to achieve stability and growth.”

The conference will succeed in reaching effective solutions to this challenge and devoting cooperation and coordination between Arab central banks. Arab expenditures and non-banking financial institutions to achieve stability and growth.”  05/06/2024 - https://economy-news.net/content.php?id=43178

The Union Of Arab Banks Proposes 4 “Important” Points For Iraqi Banks To Meet Compliance Standards

Economy News – Baghdad  Today, Monday, the Secretary-General of the Union of Arab Banks, Wissam Al-Futouh, presented four proposals to confront Iraqi banks with compliance standards and stimulate their relationship with correspondent banks.

Al-Futuh said, in his speech during the conference “The Challenges Facing Arab Banks in Complying with State Laws and Legislation and Meeting the Requirements of Correspondent Banks,” that “the financial and banking challenges that Iraq has suffered recently are many, despite the efforts of the Central Bank of Iraq,” considering that “Iraqi banks deal With a complex network.

He added, "The Arab region is going through fateful dangers resulting from wars and other political conflicts, and this conflict would increase the risks of uncertainty in the prospects of the Middle East and North Africa, resulting in severe economic impacts on many Arab countries."

Al-Futuh proposed a set of points for Iraqi banks to meet compliance standards, stimulate their relationships with correspondent banks, and enhance confidence in Iraqi banks, including: “Iraqi banks must invest in strong infrastructure.”

He continued: The other thing is adopting advanced technology, which leads to changing the rules of the game in the field of compliance, as there are many programs that rely on artificial intelligence to help analyze data and comply.

As for the third matter, Al-Futuh focused on “the necessity of adopting the principle of transparency in banking operations and preparing financial reports, to build sustainable trust with the international community,” pointing out that “the last and most important matter is the preparation of a comprehensive national plan for capacity development, training and qualification, especially in the field of compliance with... During the establishment of a committee under the name of the National Committee for Capacity Development, Training and Qualification, which will be in cooperation between the Union of Arab Banks and the Association of Iraqi Private Banks, under the supervision of the Central Bank of Iraq.

He pointed out, “The tasks of this committee also include 4 important points. The first revolves around training and qualification of Arab cadres and capacity building on the subject of compliance, while the second revolves around providing advice and support and choosing a compliance program specific to each bank.”

The third point “represents the formation of a continuous force of influence to develop Iraqi banks’ relations with international bodies, especially the American ones.” The fourth point is “documenting policies and internal controls for banking compliance.”

Views 166   05/06/  https://economy-news.net/content.php?id=43180

The President Of The Association Of Private Banks Sends An “Important” Invitation To The Central Bank Regarding The Banking Sector

Economy News – Baghdad  Today, Monday, the President of the Association of Iraqi Private Banks, Wadih Al-Handal, sent an invitation to the Central Bank of Iraq regarding the Iraqi banking sector, while addressing the deprivation of Iraqi banks from dealing in dollars.

Al-Handal said in his speech at the conference, “The challenges facing Iraqi banks in complying with international laws and legislation and meeting the requirements of correspondent banks,” followed by “Al-Iqtisad News,” “Our vision and work revolve around building a strong Iraqi banking sector, capable of facing challenges and contributing more to financing various projects.”

Its types, supporting the Iraqi economy, developing local and international partnerships, and promoting the concepts of financial inclusion in society.”

He added, "The Arab region is witnessing great challenges at all levels, including economic challenges and banking challenges in particular, including what happened in Iraq in terms of deprivation of dealing in the main international currency (the dollar), which is approximately half of the number of Iraqi banks, and which has had a significant and clear impact on banking services." inside Iraq).

The Director of the Association of Iraqi Private Banks explained: “I praise the efforts of the Iraqi government and the Central Bank of Iraq in resolving these problems with the American side, especially what resulted from the visit of Prime Minister Muhammad Shia Al-Sudani to Washington, and his meeting with a number of American figures.”

The outcomes that were determined include appointing a review committee and developing a road map for solutions.”

Al-Handal stated, “The Iraqi Private Banks Association is fully prepared to cooperate and support the plans of the government and the Central Bank of Iraq and contribute to improving the banking environment and developing the banking infrastructure in accordance with the best international practices.”

He called on the Iraqi government and the Central Bank to "work to strengthen the private banking sector, by supporting private banks in general and disadvantaged banks in particular to ensure the continuation of their work and open the horizons of banking work more broadly, whether inside Iraq or to help build strong relationships with international financial institutions."

286 views   05/06/2024 - https://economy-news.net/content.php?id=43179

Central Bank Governor: The Banking Sector Is Witnessing Major Qualitative Developments

Economy | 11:26 - 06/05/2024  Mawazine News – Baghdad  Central Bank Governor Ali Al-Alaq announced on Monday that the banking sector is witnessing major qualitative developments, while calling for cooperation and coordination between Arab central banks, banks and non-banking financial institutions to achieve stability and economic growth.

Al-Allaq said during the conference, “The Challenges Facing Arab Banks in Complying with International Laws and Legislation and Meeting the Requirements of Correspondent Banks,” held in Baghdad in the presence of a large number of Arab banking and economic officials: “I am pleased to welcome you to your second country, Iraq, and I extend my thanks and gratitude to the Board of Directors of the Union of Banks.”

The Arab League, the Secretary-General of the Association of Iraqi Private Banks, and everyone who contributed to enabling the holding of this conference, the importance of which is not hidden from everyone, is within the framework of the many cooperation and partnerships that the Central Bank of Iraq establishes with various Arab and international organizations and institutions and its openness to them, with the aim of exchanging experiences and improving performance in the banking and financial sector. .

He added, "This reflects the compatibility of development visions and strategic objectives with regard to the topics being addressed, which focus on fundamental and fundamental areas, such as supporting economic development, combating money laundering and terrorist financing, digitizing financial and banking services and products, electronic payments, and achieving financial inclusion goals."

 Pointing out that "these issues directly affect the economy and the lives of citizens, as it is not possible to research the reality of the banking sector and the reality of banks apart from the overall economy."

Al-Alaq stressed that “central banks faced increasing challenges after decades of traditional functions and tasks, which could be close to static, until each period brought different challenges that required a special approach to confront them,” pointing out that “after long periods of decline in interest rates and inflation,

The global economy has begun to face a phase characterized by high inflation and high levels of public and private debt, which has called on central banks to sense the urgent need to include financial stability and concerns about deflation within their economic models and to develop unconventional tools to deal with them.

He continued, "The financial crisis in 2008 was followed by a series of challenges, as public debt rose and the rush to raise interest rates to confront inflation threats made servicing the public debt more expensive. Here, it is difficult to balance in achieving intersecting goals that make it difficult to approach them," pointing out that "since... “The Corona crisis has become clear that public financial policy can correct one of the factors driving increased inflation.”

He stated that "the nature of shocks and the frequency of their occurrence have changed locally and internationally, as shocks historically occurred due to increased or decreased demand, with the exception of supply shocks, which is known as stagflation in the 1970s of the last century,"

pointing out that "there are many shocks today, including demand versus supply, and special risks versus Systemic risks, transient versus permanent shocks, which requires a modified approach in the face of sudden and unexpected changes.”

He stated that "central banks face new challenges in the interaction between financial and monetary stability, in light of the dominance of general financial policy and the necessity of central banks to facilitate excessive government debts, in accordance with financial control, which requires reducing spending or increasing domestic revenues, or both."

He stated that "over the past 10 years, the Iraqi banking sector has witnessed significant qualitative developments in response to the adoptions and policies of the Central Bank of Iraq, as it introduced and applied for the first time the concepts and practices of compliance rules, governance, risk management, prudential oversight, risk-based oversight, comprehensive quality management, business continuity, digital services, and financial inclusion."

He stated that "despite all these developments, there remain major and mounting challenges represented by the challenges of compliance with international laws, legislation, requirements and standards," explaining that "these challenges have a direct connection and impact on the openness of local financial institutions to their international counterparts."

He stressed that “to the extent that all of this achieves communication and connection with the outside world, it undoubtedly carries many challenges and implications,” expressing his hope that “this conference will succeed in satisfying it, reaching effective solutions to this challenge, and devoting cooperation and coordination between Arab central banks and Arab banks.” and non-banking financial institutions, to achieve stability and growth.”  https://www.mawazin.net/Details.aspx?jimare=247412

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

Provoking Thoughts and Points to Ponder on Wealth

True abundance is not about gathering more things, it's about touching the place in us that is connected to the divine source of abundance, so that we know what we need in the moment will be provided.  - Mary Manin Morrissey

It's time we put thoughts of lack behind us. It's time for us to discover the secrets of the stars, to sail to an uncharted land, to open up a new heaven where our spirits can soar.  - Sarah Ban Breathnach

It is good to have things that money can buy, but it is also good to check up once in awhile and be sure we have the things money can't buy.   - George Horace Lorimer

Ordinary riches can be stolen, real riches cannot. In your soul are infinitely precious things that cannot be taken from you.  - Oscar Wilde

'Let us not get so busy or live so fast that we can't listen to the music of the meadow or the symphony that glorifies the forest. Some things in the world are far more important than wealth; one of them is the ability to enjoy simple things.  - Dale Carnegie

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

http://famousquotesandauthors.com/quotes_by_topic.html

KTFA Monday Night CC: FRANK26….5-6-24….WE TAKE CONTROL NOW !!!

KTFA

Monday Night Conference Call

FRANK26….5-6-24….WE TAKE CONTROL NOW !!!

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=qx8An-RcEeQ

The 1 Big Mistake You Should Never, Ever Make With Your Passport

The 1 Big Mistake You Should Never, Ever Make With Your Passport

BuzzFeed   Sun, May 5, 2024

A couple of years ago, I was invited to attend a friend’s July wedding in his wife’s hometown in northern Italy. As the date approached, I remarked to another friend who was also planning to travel from the U.S. for the celebration that I was glad I had just renewed my passport since it was due to expire in May. She responded cheerfully that she was all set because her passport wouldn’t expire until September.

She was mistaken. My friend was not all set because Italy, as part of the Schengen Area of European countries, requires visitors to have a passport that is valid for at least three months beyond the date they intend to depart.

Fortunately, she was able to expedite her passport renewal and make it to the wedding, but her situation highlighted a fairly common misconception about international travel.

Having A Current Passport Isn’t Always Enough

“A lot of us just think we need a valid passport to travel the world beyond our borders, but what many people don’t realize [is] that a current passport alone might not be enough,” said Katy Nastro, a spokesperson for the flight alert service Going.

Indeed, many countries require your passport to have a certain duration of validity remaining beyond the intended dates of your trip. The most common lengths are three and six months past the date you fly back to the U.S.

“A lot of countries, namely in Asia and the Middle East, require six months’ validity beyond your travel dates ― meaning if you take a trip to Vietnam in July, for example, your passport needs to be valid up until at least January,” Nastro explained. “If you arrive at the airport and try to get on your flight, some airlines won’t even let you board without this very important bit of time, in which case you run the risk of not being able to take your trip.”

Each country has a different timeline for passport validity, so international travelers need to familiarize themselves with these policies before booking a trip.

“Some may require three months, while others may require six months or even more,” said David Alwadish, the founder and CEO of the passport and visa service ItsEasy.com. “When some countries also require a visa and grant a multiyear paper visa, they may require at least one year or more [of] validity.”

The specific requirement depends on a variety of factors, including the country’s immigration policies, bilateral agreements and security risk considerations.

“Therefore, it’s crucial for travelers to thoroughly check the entry requirements of the specific country they plan to visit to ensure compliance with passport validity regulations,” Alwadish emphasized.

He and Nastro have both observed a lack of understanding around passport validity rules.

“It’s common for people to be unaware of the three- or six-month passport validity rule, particularly among those who don’t travel frequently or haven’t encountered it before,” Alwadish said. “The rule may not be consistently enforced across all countries, causing misconceptions among travelers. The complexity of immigration policies, which can change, adds to the challenge of staying informed. Lastly, passport validity requirements may not be well-publicized, leading to lower awareness among travelers.”

What’s The Reason For These Requirements?

 “These requirements ensure that visitors have a valid passport for the duration of their intended stay, as well as for a buffer period in case of unexpected delays or extensions,” Alwadish explained.

You might’ve planned a two-week sojourn in the South of France, for instance, but maybe after a few days you realize that you actually want to stay for two months. Or perhaps something happens that’s out of your control.

“This is mainly out of precaution,” Nastro said. “Let’s say you fall seriously ill or have an accident and then need to stay in that country longer than intended. If your passport expires during this unplanned time, it can cause a mountain of issues upon trying to exit the country.”

The period of passport validity for international tourists provides an extra cushion in case you sustain an injury that precludes you from flying for a while, or you delay your return for other personal reasons. The point is to account for the fact that plans might change.

“Countries set a minimum of three or six months of passport validity for foreign visitors to facilitate efficient immigration procedures, bolster security measures and improve emergency management,” Alwadish said. “This ensures that visitors have a valid travel document throughout their stay and can respond effectively to unforeseen circumstances. Furthermore, these requirements promote fairness and reciprocity in visa policies, fostering balanced relationships between countries.”

To Read More:

https://www.yahoo.com/lifestyle/1-big-mistake-never-ever-111603933.html

Ariel: Major Update 5-6-2024

Emailed to Recaps:

Ariel:  Major Update  

It is being  reported  that financial liquidity is available and there are no risks to the Iraqi dinar. A lot of things are being completed. 

Also economic affairs expert Safwan Qusay confirmed that financial liquidity is available and there are no high risks regarding the existence of the Iraqi dinar. He pointed out, "Iraq has completed all its financial needs, and the rest of it needs the price of a barrel of oil to reach only $96 to cover the financial deficit."

But you know what's even better than this? 

It is also being reported that the Foreign Currency Exchange Regulations were completed on May 4th, 2024.  Report here 👇

https://uscode.house.gov/view.xhtmlreq=988&f=treesort&fq=true&num=91&hl=true&edition=prelim&granuleId=USC-prelim-title26-section988   

What does this mean for Iraqi Dinar holders?

Foreign Currency Exchange Regulations play a crucial role in the Iraqi Dinar revaluation and conversion to USD in 2024 by ensuring the process is conducted smoothly and transparently. 

These regulations set the framework for international transactions involving the Iraqi Dinar, which is vital for the currency's international acceptance and stability. 

They also help prevent illegal activities like money laundering and support Iraq's efforts to combat the financing of terrorism.

Not to mention Economist Muhammad Hashem Helou confirmed that the central bank cannot float the dinar exchange rate. 🤑

Not to mention the parallel market is reaching the official price of the REER-(Real Effective Exchange Rate)

Not to mention the Al-Rafidain Bank announced the application of the new platform that will allow electronic banking for Iraqis. Which is the main branch. 

Not to mention the Deputy Chairman of the Parliamentary Planning Committee, Muhammad Karim, confirmed last Thursday, that the 2024  budget will proceed after completing the changes in its schedules for allocations for governorate and ministries projects. 

Not to mention Atheer Daoud Al Ghurairi, Minister of Commerce of Iraq, has confirmed that Iraq has completed the requirements to join the World Trade Organisation (WTO) after completing economic reforms and improving the business environment. 

Not to mention that there is an accession ceremony happening on May 9th for 9 countries, Iraq being one of them per article that came out a month ago. 

People you have a lot to look forward to. So please understand the reality of the current situation with regard to your investment. You are being primed to take full advantage of your portfolio with all the info that has come out in support of this inevitable reality. 

Enjoy the rest of your day.

Ariel

Monday Evening News with MarkZ 5-6-2024

Monday 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 one and all and Mark and Mods

Member: Are we there yet???

MZ: I did have multiple bankers over the weekend get notified and are beginning training today. They are “Training to handle foreign currency exchanges”. Some of the currencies mentioned are exactly what we are holding. And they are being trained on them. NOW-THIS WEEK-IMMEDIATELY!!! .  

MZ: This is really cool to get real-world contacts and have it confirmed by someone else on a totally different coast of the United States!!!!! This is very exciting in my book.

MZ: These are banking  people who have never been trained before…these are some of the ones the banks had told them “No, this is never going to happen”  and now suddenly the banks come to them and say “ You have got to get trained now-this week- immediately”

MZ: So these are not the trained redemption center folks. These are banking personell who were told that this RV stuff was hogwash before…Now if its hogwash-why are they suddenly being trained to do it????…..Gave me a good warm and fuzzy feeling today. .

Member: Wonderful news MARKZ!!! It is a feel good news and needed these days!!!

Member: Training?  What kind of training?

MZ: They need to know the security features on the various bills in order to verify them on site. That is what they are training on.

Member: I heard the dong could be as high as $3.60.

MZ: I heard that too…but I think it will be somewhere in the mid $2 range.

Member: A CPA told me if the currency is purchased to make money, it may be taxable. What do you think or know about that?

MZ: Tonight we have 2 different articles from the state department/government sites on taxes. “There are no taxes or subsidies on the purchase or sales on foreign exchange”  and they mention Iraq and Vietnam. One is from 2022 and the other one is earlier. Sounds like to me there are no taxes or subsidies on the purchase or sales on foreign exchange!!!

MZ: This is of course if no laws change. Both links are in my daily links – scroll down to section 6

https://www.state.gov/reports/2022-investment-climate-statements/iraq/

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

Member: So bottom line- There are no Taxes on foreign currency exchange!!

Member: So lets say Iraq has a float…how long will be have to exchange the large notes..

MZ: They will have to tell us. We do not know.

MZ: “China’s Gold buying spree could be the straw that breaks the dollar’s back”  They are catching on….gold backed currency!!!

Member: I went to a credit union today. They were remodeling and had gotten new De la rue machines “that could verify foreign currency”!

Member: The WF bank near me has been ready for awhile now. They sure seem to know who I am. My banker showed me the rainbow currency a long time ago. Just waiting to go

Member:  MarkZ can you give us nervous people some idea what to expect when we go to the bank to redeem our currencies

Member: Go to Recaps to the post RV section…..many articles on that there.

Member:  Mark…….thanks as always, and thanks to all the mods as well.

Member: Very encouraging news tonight…..Thanks so much ….

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

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=ChW1ThLwPS4

Goldilocks' Comments and Global Economic News Monday Evening 5-6-24

Goldilocks' Comments and Global Economic News Monday Evening 5-6-24

Good Evening Dinar Recaps,

"When gold is set free, so are we."

Let's take a close look at why that is. There is a strong belief that gold is no longer determined by economic prices on the market. A shift is occurring and China is in the middle of it.

Much of the gold prices as of late have been driven by the China Market buying up this particular precious metal. It is one of the requirements of the BRICS Nations in joining this alliance to trade goods and services with the backing of gold.

In other words, we have new price discoveries taking place attempting to reset the price of gold. The higher the price of gold goes, it has the ability to determine the price of the dollar going forward. When gold is the standard over the dollar, price discoveries on foreign currencies begin to shift.

Gold and the Dollar have a correlated relationship that is currently breaking down because of inflation, de-dollarization, and the purchase of gold by countries overseas.

When the price pressures on gold becomes so great, it will require new formulations of values and a reset in gold will occur. All of our tokenized assets backed by gold, our stablecoins that represents a country's currencies backed by gold, and gold itself will be free to move into a real value.

These new values will be determined by supply and demand, and not, a predetermined price set to parallel a particular World Reserve Asset. This is when we have a reset.

Here is what the final moments look like...

Paper trades in gold and silver on the COMEX Market are stopped.

When trades in paper gold and paper silver in the Futures Market come to a halt, this will enable them to adjust spot prices on physical gold and physical silver.

A slight movement upward (manually done) occurs to encourage trade. This is done over and over again until the market recognizes the new determinations and price correlations.

This is where you see chart gaps happen in the market, and they have to be filled.

Once these gaps are filled and new movement forward on gold and silver are secured, we have a reset. This will reset everything.   CME Group   NY Times
Everything.

© Goldilocks

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New Bank merger guidelines

Pdf READ HERE

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Are Real-Time Payments Near an Inflection Point? BofA Thinks So | Payments

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Banking Intel:

Commercial Lenders (Relationship Managers) are currently receiving electronic messages to sign up for Foreign Currency Training.   Street Directory  Learn   Study  

© Goldilocks

👆 By the way, Commercial Lenders are having to report for foreign currency exchange training. It is not an option. It is a requirement.

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Building a User-Friendly Interface for Central Bank Digital Currency Applications: A Case Study  | HackerNoon

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If Ripple is not a security, it is a commodity. A precious metal. And, you can currently get it for just over 50 cents.

Many of you have stated that you cannot afford precious metals. Well, you don't have an excuse now. Why would you wait for it to go up?

The case is expected to be finished in September 2024. What are you waiting for? This is not advice, but it is probably one you wished a year from now someone had given to you.    Youtube

© Goldilocks

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Iraqi Dinar Video Update Monday AM 5-6-24

Iraqi Dinar Video Update Monday AM 5-6-24

Finally IQD Big Exchange Rate 1 IQD= 6.57$ - 3:27

WOW Congarts It's Good News For IQD Investor's – 3:17

Iraqi Dinar Going To Be International Revaluation – 4:35

WOW This Is Exciting News Coming From Iraq – 3:36

 Finally IQD Big Exchange Rate 1 IQD= 6.57$ - 3:27

https://www.youtube.com/watch?v=xbxLlKO3lAQ

WOW Congarts It's Good News For IQD Investor's – 3:17

https://www.youtube.com/watch?v=DiYW4ukMxuY

Iraqi Dinar Going To Be International Revaluation – 4:35

https://www.youtube.com/watch?v=sWg5c73Ttdo

WOW This Is Exciting News Coming From Iraq – 3:36

https://www.youtube.com/watch?v=l1zOOkiHFGc

Iraqi News Highlights and Points to Ponder Monday Afternoon 5-6-24

Iraqi News Highlights and Points to Ponder Monday Afternoon 5-6-24

Savings And Financial Inclusion

Economical  05/06/2024  There is a close relationship between saving and financial inclusion, as economies with good levels of saving are usually more comprehensive, stable, and consistent in financial trades and exchanges, growth rates, and the ability to withstand shocks.

It seems that this relationship was an impetus for adopting the slogan “Towards encouraging saving to enhance... Financial Inclusion” on the occasion of the Arab Financial Inclusion Day, which falls on April 27th every year.

Financial inclusion means providing financial services to all societal groups and encouraging them to open bank accounts, by opening more bank branches in places far from city centers, and introducing more payment systems and technologies that contribute to reducing episodes of slackness in performance and restoring confidence between the public and the banking sector.

This establishes the withdrawal of the cash mass stored in homes and other places of hoarding, and thus recycling it in credit operations and economic projects in order to support the business environment and address the problem of unemployment in the labor market and thus achieve sustainable development.

The banking sector in our country participates in financial inclusion activities that promote and open up to the public in public places, universities, and commercial centers, with the aim of encouraging the public to deal with the banking sector and increasing the proportion of transactions and transactions in the banking arena, thus achieving the highest levels of savings.

Such productive activities may have a degree of impact depending on the regions in which they are held, and complement what the relevant authorities are working for in the context of adopting electronic payment systems and protecting the public. However, there are obstacles that need to be contemplated and reconsidered if we want to achieve positive results in the file.

Encouraging savings and achieving the complementary relationship between financial inclusion and withdrawing the public’s accumulated cash mass, which the relevant authorities estimate at approximately 70 percent of the issued cash.

The first of these problems that need study and contemplation is the problem of the difference in the currency exchange rate, which prompts the public to buy foreign currencies as a safe haven.

From exchange rate fluctuations, solving this problem contributes significantly to creating trust between the public and banks, in addition to the possibility of raising the interest rate in light of the increase in government spending on service projects, which may result in an increase in inflation rates, and we believe that providing banking privileges to savers is the way.

 It is appropriate to encourage saving, such as guaranteeing access to housing units for savers, especially children and young women, at half the price after ten or fifteen years of saving at certain rates, or providing a free marriage grant if these age groups continue saving for about a number of years.   https://alsabaah.iq/96119-.html

Warnings Of Challenges Delaying Budget Approval, Most Notably The Deficit[/Size]

Political |06/05/2024  Mawazine News - Baghdad

The Iraqi state is facing major challenges in light of the delay in approving the federal state budget for this year 2024, amounting to about 228 trillion dinars (the dollar = 1.320 thousand dinars) despite the passage of five months of this year, and this delay was reflected in the disruption of service and infrastructure projects. Infrastructure, amounting to about 1,300 projects, has been added to the budget schedules and items.

The state entered the fifth month of the year without a budget, despite Law No. 16 of 2009 stipulating that the budget is prepared three months before the end of the fiscal year.

Iraqi officials confirmed that all service sectors, including health and education, suffer from lack of spending and delays in many financial allocations related to service and investment projects.

While political sources revealed that voting on the budget items will take place in the Council of Ministers soon, to be sent to Parliament in order to study it and present it to a final legislative vote.

On June 12, 2023, the Iraqi Parliament voted on the federal budget law for the years 2023, 2024, and 2025, in an initiative that is the first of its kind in the country’s history in terms of the size of the budget and the number of fiscal years, with a value of 197 trillion and 828 billion dinars annually, with a financial deficit of 63 trillion dinars, but the decision gave the government the right to amend and review the budget each year according to what the country’s financial landscape requires, including oil prices.

A government source said in a phone call with Al-Araby Al-Jadeed that the general budget of the Iraqi state for this year 2024 is under government review, and will be approved during the upcoming Council of Ministers sessions, because it needs to amend its schedules and reduce the percentage of the financial deficit.

The source, who requested to remain anonymous, explained that the Iraqi Ministry of Finance sent the budget schedules more than a month ago to the Council of Ministers, and work was done to resolve differences related to the value of projects and the volume of investment spending. He pointed out that the tripartite budget tables require periodic review in each fiscal year in order to adjust project costs, the size of salaries, appointments, retirement, and the inclusion of new projects.

He added that the government amendments also include the allocations of ministries and governorate budgets not linked to the region, without prejudice to the legal texts and provisions, the price of a barrel of oil, and exchange rates, as they have been in effect since the beginning of the current year.

Parliamentary criticism

: The Finance Committee in the Iraqi Parliament held the Iraqi government responsible for the delay in sending the budget to the House of Representatives for the purpose of studying it and knowing the chapters on financial disbursement, its schedules, and the laws that were added to it before submitting it to a final vote.

Committee member Moeen Al-Kazemi said that the budget figures expected to reach Parliament have risen from 197 trillion dinars last year to more than 228 trillion, and that this increase will be based on numbers, not items.

In statements to reporters on Saturday, Al-Kadhimi criticized the Ministry of Finance’s reluctance to disburse the provinces’ financial dues despite entering the fifth month of the year, and this is what caused the modification of many service projects in the municipal, educational and health departments.

Budget delay

For his part, Representative Mahma Khalil explained that the first year of the tripartite budget must be adhered to, while the following two years, 2024 and 2025, are subject to change, but the country has now entered the fifth month and the government has not sent the budget to the House of Representatives despite its demands for it.   https://www.mawazin.net/Details.aspx?jimare=247417

The Delay Surrounds Five Iraqi Ministries.. What Is The Relationship With The Budget?

Money  and business  Economy News – Baghdad   The Strategic Planning and Federal Service Committee in the House of Representatives revealed that there are 5 ministries that have not achieved advanced completion rates in their projects within the government program.

The Vice Chairman of the Committee, Mohamed Al-Baldawi, said in an interview followed by Al-Iqtisad News, that “those ministries have delayed in accomplishing the tasks assigned to them,” without referring to the names or descriptions of the work of those ministries.

Al-Baldawi attributed this reluctance to “the possibility of financial problems due to the delay in the budget law,” explaining that “those ministries were not allocated sufficient budgets for these projects, and there are projects in the first place that were not planned properly and thus they delayed.”

He stated that "there are also problems that accompanied the planning process within the ministry and the institution and at the leadership level and directing projects and human resources in the right direction."100 views   05/05/2024 - https://economy-news.net/content.php?id=43150

Including Iraq... Five Countries Possess More Than 1,000 Tons Of Gold

Economical  05/05/2024   The World Gold Council announced yesterday, Saturday, that Iraq and four Arab countries possess more than a thousand tons of global gold reserves.

The Council said in its latest schedule for the month of May that “the first five countries (Saudi Arabia, Lebanon, Algeria, Libya and Iraq) possess 1,72,6 thousand tons.”

He added, "Iraq maintained its ranking of 30th globally out of the 100 countries listed in the table with the largest gold reserves, as it has not purchased gold since May last year, bringing its gold possessions to 142.6 tons, which represents 9.3% of the rest of its other reserves."

The Council also pointed out that “the United States of America sits on the throne of the rest of the countries with the largest possession of gold in the world at 8,133.5 thousand tons, followed by Germany with 3,352.6 thousand tons, then Italy came with 2,451.8 thousand tons, while Suriname came at the bottom with 1.2 thousand tons.” “.

It is noteworthy that the World Gold Council is based in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest and most advanced gold mining companies in the world.

Most Arab countries maintained the size of their gold reserves by the end of the first quarter of 2024, at the same levels recorded at the end of last year, with the exception of Oman and Qatar, which recorded net purchases of 4.5 tons and 1.5 tons, respectively.

Successive increases in gold prices led the value of most countries' reserves to record new levels, before the recent declines during the second half of April led to the value of those reserves returning to what they were.   https://alsabaah.iq/96029-.html

Provoking Thoughts and Points to Ponder on Wealth

It is wealth to be content.  - Lao-Tzu

Who is rich? He that rejoices in his portion.  - Benjamin Franklin

If you're happy, you're wealthy! Happiness doesn't need a bank account.  - Sr. Mary Christelle Macaluso

Wealth ... is a relative thing since he that has little and wants less is richer than he that has much but wants more.  - Charles Caleb Colton

Sometimes when you have everything, you can't really tell what matters.  - Christina Onassis

The only question with wealth is what you do with it.  - John D. Rockefeller

The rich man is not one who is in possession of much, but one who gives much. - Saint John Chrysostom

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

http://famousquotesandauthors.com/quotes_by_topic.html

More News, Rumors and Opinions Monday Afternoon 5-6-2024

TNT:

Tishwash:  Iran calls for the use of national currencies in economic exchanges with Iraq

Iranian First Vice President Muhammad Mokhber received, on Monday, Iraqi Trade Minister Atheer Daoud Salman al-Ghurairi.

According to Iranian agencies, during the meeting, an informant said that the achievements and successes of the Iraqi government and people have always been of special importance to the Islamic Republic of Iran, expressing his hope that we will witness, day after day, the achievement of more successes and prosperity for the peoples of the two countries.

Mukhbar considered that facilitating cooperation between the private sector in the two countries is the basis for developing economic relations between Iran and Iraq, and added: The Iranian private sector has a great motivation to work in Iraq, due to the friendly relations between the two countries and the presence of the holy shrines.

He called for the Joint Cooperation Committee to identify obstacles to the development of trade relations between the two countries, and to take the necessary steps to resolve them.

Mukhbar also stressed the necessity of using national currencies in economic exchanges, pointing out that the friendly, deep and historical relations between the two countries require the use of national currencies in commercial and economic exchanges, instead of using the currency of a third country.  link

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

Militia Man  Article: "Specialist: Floating the dinar is economic suicide"  Them bringing up exchange regimes obviously...they're going to do something because why talk about it if it's not going to change.  You don't.

Frank26  there's no set date for this to happen.  That's just the way it is.  I'm sorry if you can't tolerate that, you should move on.  But if you can tolerate what a speculative investment brings into you your life then you understand, oh my gosh...[Saleh] just told the Iraqis the Iraqi citizens that the exchange rate for our currency it's almost reached the official rate and once it does we're calling upon it to float...

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BRICS should be ready for dollar collapse – Russian IMF rep

4/5/24 – Azərbaycan24

The international group could create an alternative currency based on their national legal tenders, according to Alexey Mozhin.

The BRICS group of nations could offer an alternative currency in the event of a collapse of the dollar and the international monetary system, according to Russia’s executive director at the International Monetary Fund, Alexey Mozhin.

In an interview with RIA Novosti published on Friday, the expert noted that the shortcomings of the current financial system are becoming more apparent and that many publications have started to mention BRICS “in the context of the fact that this association can offer an alternative.”

Mozhin explained that it is possible for the economic bloc’s member countries to create a currency that would be “built on a basket of currencies of the five member countries,” which would include the Chinese yuan, Indian rupee, Russian ruble, Brazilian real, and the South African rand.

“Such a proposal is being discussed. In the event of the collapse of the dollar and the international monetary system, it will be necessary to turn the said BRICS accounting unit into a real currency, backed by exchange goods,” the director told the outlet.

Earlier this year, during a meeting of BRICS finance ministers and heads of central banks, representatives of its member states expressed support for moving away from the dollar and for trading in national currencies instead.

Russia’s Deputy Minister of Finance, Ivan Chebeskov, said at the time that “most countries said that payments in national currencies are what the BRICS countries need. We are already a large BRICS family, consisting of ten countries. Most countries supported the need to build new payment mechanisms and shared their experience developing central bank digital currencies, building new platforms, and participating in pilots of various platforms.”

Chebeskov surmised that the majority of the participants of February’s BRICS forum supported boosting bilateral trade and strengthening economic ties by moving to independent settlement mechanisms in national currencies.

The global trend towards de-dollarization comes after Russia was cut off from the Western financial system following the outbreak of the Ukraine conflict in 2022. Additionally, financial experts have raised concerns that the seizure of Russia’s foreign assets, and Western plans to confiscate these, could further spur the trend. (RT)

Source: Azərbaycan24

https://dinarchronicles.com/2024/05/05/brics-should-be-ready-for-the-collapse-of-the-us-dollar/

LIVE! Did You Miss It? The NEXT PHASE Of CURRENCY DEVALUATION HAS ALREADY BEGUN!

Greg Mannarino:  5-6-2024

https://www.youtube.com/watch?v=_qklb4TZT5E

On The Verge Of Collapse; This Was 100% Predictable | John Rubino

Liberty and Finance:  5-6-2024

Precious metals have increased substantially this year and are signaling that the public is losing confidence in the financial system.

John Rubino  says, "This was predictable from day-1 back in 1971 when we got rid of the last vestiges of the gold-standard."

Governments, institutions, and individuals are drowning in debt. This debt-based system is destroying the financial system and even the moral fabric of society as bankruptcy and debt cancellation become the only options.

 "I don't have the slightest idea how this plays out exactly." However, he notes there are actionable steps people can take today to be more prepared for crisis.

INTERVIEW TIMELINE:

0:00 Intro

1:31 Job's numbers

4:00 Stock bear market

6:55 Fed policy during downturn

8:58 Debt situation

16:57 Japan's debt bubble

21:19 Fear trade in gold

28:37 Fighting against authoritarianism

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

Iraqi Dinar Video Update Late Sunday Evening 5-5-24

Iraqi Dinar Video Update Late Sunday Evening 5-5-24

Iraqi Dinar Massive Huge Reinstement  - 3:13

JP Morgan Chase Bank Big Announced IQD RV – 3:31

Iraqi Dinar Big Exchange Rate – 4:11

Something Big Happening   - 4:01

Iraqi Dinar Massive Huge Reinstement – 3:13

https://www.youtube.com/watch?v=XUka3_pl3ws

JP Morgan Chase Bank Big Announced IQD RV – 3:31

https://www.youtube.com/watch?v=KCxG6k33YdE

Iraqi Dinar Big Exchange Rate – 4:11

https://www.youtube.com/watch?v=9pPPf5cG16E

Something Big Happening – 4:01

https://www.youtube.com/watch?v=A8fyshpHc4c  

“Tidbits From TNT” Monday 5-6-2024

TNT:

Tishwash:  Signing a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency

Today, Monday, the Ministry of Planning announced the signing of a memorandum of understanding between the Trade Bank of Iraq and the Japanese International Development Agency.

The ministry said in a statement received by the Iraqi News Agency (INA): “On behalf of the Prime Minister, Muhammad Shia al-Sudani, the Minister of Planning, Muhammad Ali Tamim, today sponsored the signing ceremony of a memorandum of understanding between the Iraqi Trade Bank and the Japanese Development Agency (JICA).”

The statement added, "The signing ceremony was attended by the Prime Minister's Advisor, Muhammad al-Daraji, the President of the Trade Bank of Iraq, and a number of officials in the Ministries of Foreign Affairs and Finance, while on the Japanese side it was attended by representatives of the Japanese Embassy in Iraq and the JICA Agency."   link

CandyKisses:  Sudani to visit Italy next week

BAGHDAD (NINA) - Political adviser to the Prime Minister Sebhan Mullah Jiyad has revealed a visit by Prime Minister Mohammed Shia al-Sudani to Italy next week.

Mullah Jiyad said in a statement to the official newspaper: "The Prime Minister will go to the Italian capital Rome on a two-day visit starting on the tenth of May," explaining that "this visit comes within the Iraqi diplomatic openness led by the Sudanese government, and linking it to the economic dimension."

He pointed out that "Iraq and Italy have many commonalities at the political and diplomatic levels, as well as interrelated interests at the economic level, as there are many Italian companies that have dealt and are dealing with Iraq, especially in industries related to the energy sectors, in addition to Italy's participation in the international coalition in the war against (ISIS) and its support for Iraq."

He stressed that "this visit comes within the direction to arrange the bilateral relationship between Iraq and the countries of the international coalition in preparation for scheduling its withdrawal from Iraq." 

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CandyKisses:  The launch of the conference of the Union of Arab Banks in Baghdad

Monday 06, May 2024

Baghdad / Nina / The activities of the Union of Arab Banks Conference, sponsored by the Central Bank of Iraq, were launched in the capital, Baghdad, under the title "Challenges facing Arab banks in complying with international laws and legislation and meeting the requirements of correspondent banks."

The two-day conference, which was held at the Babylon Hotel, was attended by Central Bank Governor Ali Al-Alaq, government and parliamentary figures, and a number of Arab banking and economic officials.

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Tishwash:  Arab banks: Iraq supports the transition from dependence on oil revenues to a diversified economy

The Union of Arab Banks confirmed on Monday that the Iraqi government supports the country's transition from dependence on oil revenues to a successful diversified economy, while putting forward four proposals to enhance the compliance environment for Iraqi banks.

The Secretary-General of the Union of Arab Banks, Wissam Hassan, said during the conference “The Challenges Facing Arab Banks in Complying with International Laws and Legislation and Meeting the Requirements of Correspondent Banks,” held in Baghdad in the presence of a large number of Arab banking and economic officials, and attended by the correspondent of the Iraqi News Agency (INA): "Enhancing international confidence in Iraqi banks requires additional effort on multiple fronts, to enhance the compliance environment for Iraqi banks."

He pointed out, “There are four proposals to enhance the compliance environment in Iraqi banks. First, Iraqi banks must invest in a strong compliance infrastructure, and the second proposal is to adopt advanced technology, which leads to changing the rules of the game in the field of compliance, as there are many programs, including It relies on artificial intelligence, which helps in the compliance process and data analysis.”

He added, "The third proposal is to adopt the principle of transparency in banking operations and the preparation of financial reports, in order to build sustainable trust with the international community. The last and most important proposal, in our opinion, is to prepare a comprehensive national plan for capacity development, training and qualification, especially in the field of affiliation."

He continued, "Here the Union of Arab Banks proposes that a committee be established under the name of the National Capacity Development, Training and Qualification Committee, in cooperation between the Union of Arab Banks and the Association of Iraqi Private Banks and under the supervision of the Central Bank of Iraq, and its tasks will be training and qualifying Iraqi cadres and building capabilities in the subject of compliance and combating money laundering and terrorist financing." And combating corruption, to become what is called a certified director for combating financial crimes.”

He went on to say: "The committee's mission is also to provide consultation and technical support to develop and choose the special compliance program for each bank, in addition to forming an influence and communication force to develop Iraqi banks' relations with international banking and regulatory authorities, especially American ones, in addition to documenting policies, procedures and internal controls related to compliance for each bank." .

In turn, member of the Board of Directors of the Union of Arab Banks, Ziad Khalaf, said during the conference: “Compliance with international laws and legislation is not just a legal necessity, and not just an obligation, but rather an investment in confidence and economic stability, an investment that reflects our commitment to transparency and integrity, and our responsibility to ensure the protection of interests.” Finance, which is, in short, the basis of success and sustainability in mid-range businesses.”

He added, “If the Arab world wants to achieve integration and economic renaissance in the region, economists must recognize the historical moment in Iraq, which is the fourth largest economy in the Middle East and North Africa,” expressing his regret that “our Arab region is one of the least integrated regions in the world, as there is no Two-way trade represents only 18 percent of total trade, as well as of total exports.

He explained, "The Iraqi government today supports the country's transition from dependence on oil revenues to a diversified economy, as a single economy is fraught with risks, while a diversified economy is guaranteed success."

He pointed out that "activating the banking sector requires expanding electronic payment services and ensuring the granting of credit formations and loans by developing work mechanisms, including control and oversight, and enhancing their flexibility while adopting digital solutions, in addition to enhancing information security, combating fraud operations, and ensuring compliance with financial and banking legislation and laws," calling for "Enhancing cooperation in order to build strong foundations for sustainable growth in our Arab region link

Mot: .... Starting to Understand - I Is!!! 

Mot: The RV plan (From Recaps Archives)