News, Rumors and Opinions Wednesday AM 5-15-2024
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 Wed. 15 May 2024 Compiled Wed. 15 May 2024 12:01 am EST by Judy Byington
NESARA/GESARA: The Dawn of a New World
“The End of Poverty, The End of Debt, The Beginning of a New Golden Age!” Prepare for a world where poverty, hunger, and debt are relics of the past, replaced by global prosperity and lasting peace for all!
NESARA Joins Forces with GESARA: In a monumental shift, NESARA, a comprehensive economic reform plan for the United States, has united its destiny with GESARA, its global counterpart. This momentous announcement heralds a profound transformation that will impact not only the United States but also a coalition of 206 sovereign nations worldwide. The linchpin of this transformation is the new financial system enshrined within GESARA.
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 Wed. 15 May 2024
Compiled Wed. 15 May 2024 12:01 am EST by Judy Byington
NESARA/GESARA: The Dawn of a New World
“The End of Poverty, The End of Debt, The Beginning of a New Golden Age!” Prepare for a world where poverty, hunger, and debt are relics of the past, replaced by global prosperity and lasting peace for all!
NESARA Joins Forces with GESARA: In a monumental shift, NESARA, a comprehensive economic reform plan for the United States, has united its destiny with GESARA, its global counterpart. This momentous announcement heralds a profound transformation that will impact not only the United States but also a coalition of 206 sovereign nations worldwide. The linchpin of this transformation is the new financial system enshrined within GESARA.
A Global Gold-Standard Monetary System: Once GESARA takes center stage, the International Monetary Fund (IMF) will declare the inception of a “global gold-standard monetary system.” In this new era, all remaining fiat currencies will be exchanged for gold-backed currency, a significant step away from paper money. The march toward digital currencies will gain momentum under this revitalized financial system.
A Transition Rooted in Simplicity: To ensure a seamless transition, meticulous preparations have been made. The new financial system has been operational for months, securely hosted on a quantum server impervious to hacking or unauthorized access. Crucially, wealth proliferation is a cornerstone of this transformation. Newly minted wealth holders are more inclined to contribute to humanitarian efforts, ultimately fostering wealth for all.
Wealth-Building Mechanisms: This transformation might witness a shortage of skilled workers, which, paradoxically, is a wealth-building catalyst. The resulting surge in wages and salaries counterbalances the price drop stemming from tax reductions, sometimes up to 80% of final product costs, thus ushering in deflation. Lower energy costs, thanks to free-energy technologies, further contribute to this financial renaissance.
The Future: A Glorious Reality: Our future is poised to be a grand tapestry of innovation and abundance. Technologies once suppressed by the cabal, some dating back centuries, are finally being unleashed. For instance, the pristine waters of Antarctica will revitalize arid regions and infuse life into all flora and fauna. A world with personalized credit cards, Replicators that produce everything, and newfound awareness of the power of the mind to manifest our desires awaits. Real healthcare capable of rejuvenating our bodies, re-growing limbs or organs, and even reversing the aging process by decades is on the horizon.
Liberation from Financial Chains: Money and traditional banking, tools historically employed by the cabal to manipulate and control us within a debt-based economy, are slated for obsolescence. Coinage, however, will endure. With the elimination of national debts globally, taxes will be lowered for individuals and corporations. Instead, a flat sales tax of approximately 15% on new items will be implemented.
The Dissolution of the Global Elite’s Pyramid: The current pyramid structure dominated by the global elite, governments, and corporations has reached its limit. This structure perpetuates class divisions and scarcity. True spiritual evolution arises when one’s identity transcends material attachments. With the advent of free energy, advanced transportation, and Replicators accessible to all, true equality emerges. No one will be enslaved, people will pursue their passions with ample free time for reflection and creativity. Hoarding becomes unnecessary.
A Vision of Advanced Civilization: In advanced civilizations, concerns about food, shelter, and transportation are relics of the past. As NESARA and GESARA unfurl, we stand on the brink of a world where prosperity, freedom, and innovation thrive, and the human spirit soars unburdened by material concerns.
The Critical GESARA Teachings Every American Needs to Learn Before the Financial Reset!
~~~~~~~~~~~~~
Global Currency Reset:
Tues. 14 May 2024 Bruce, The Big Call The Big Call Universe (ibize.com) 667-770-1866, pin123456#
Bruce’s US Space Force contact indicated Tier4b (Us, the Internet Group) would have a window to receive notification between tonight Tues. 14 May and Wed. night 15 May.
An Iraqi source said there was an in-country Dinar Rate at over $8. The Dong was just below $8.
The Dinar went on a CBI platform to trade (not on the Forex).
On Sun. 12 May the PM of Iraq made two of the three announcements he was supposed to make, with the third announcement made on Mon. 13 May.
Our banking accounts have been mirrored on the QFS. Those accounts were made live on the QFS yesterday Mon. 13 May.
Tues. 14 May 2024: The Ancient Frequency Powering the Quantum Financial System Revealed: Setting Up the QFS Accounts!
Read full post here: https://dinarchronicles.com/2024/05/15/restored-republic-via-a-gcr-update-as-of-may-15-2024/
Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat ...Iraq is always much farther ahead than it seems in these articles, as they can read a bit gloomy at times like there is a ton more of work to be done. But in reality, they are much, much closer to accomplishing most of the goals to the Pillars of Financial Reform as we realize as needed to progress forward into the international arena and play ball with the big guys… Folks, it is coming...we can’t stop it now. It is just a matter of time.
Walkingstick [Information from Iraq bank owner #1 friend] Ever since Sudani came back from Washington DC the government of Iraq...has been in the process of making...videos, commercials, advertising. Sudani has been doing this on behalf of the executive level of all the private banks...These videos will soon be released and shown on Iraqi television
and the big screens. Suandi and the GOI are making these videos with the executive branch of each bank to teach the Iraqi citizens about the new national currency...and the process of the new exchange rate...There will be a primary video, a spearhead video. The videos will be with the head of the private banks, the governor of the Central Bank of Iraq, the whole of the board members, the government of Iraq, Sudani himself, the Minister of Planning, the Minister of Finance, the Minister of Oil. It will encompass all of the GOI of Sudani because the GOI encompasses the entire executive branch...These videos will explain to the Iraqi citizens the process of the monetary reform and where it is at that moment... [Post 2 of 2]
************
DISASTER. Inflation Report Comes In WORSE THAN EXPECTED! AND ITS NOT GOING TO STOP.
Greg Mannarino: 5-14-2024
Iraqi News Highlights and Points to Ponder Wednesday AM 5-15-24
Iraqi News Highlights and Points to Ponder Wednesday AM 5-15-24
Parliamentary Finance Indicates Government Negligence Regarding The Budget
Economy Information/Baghdad.. Member of the Parliamentary Finance Committee, MP Hussein Moanis, confirmed on Tuesday that delaying sending amendments to the 2024 budget schedules to Parliament is a negligence on the part of the government.
Mu'nis told Al-Maalouma, "Extending the legislative term of the House of Representatives for a month was aimed at allowing the government to complete and implement amendments to the special schedules for the 2024 budget and send them to Parliament within this period."
He added, "The committee believes that the delay in sending the schedules is negligent and cannot last longer due to the governorates and state sectors' need for funds to implement projects," indicating that "the committee is still waiting for them to be sent in order to study them and present them to the council for a vote."
Iraqi News Highlights and Points to Ponder Wednesday AM 5-15-24
Parliamentary Finance Indicates Government Negligence Regarding The Budget
Economy Information/Baghdad.. Member of the Parliamentary Finance Committee, MP Hussein Moanis, confirmed on Tuesday that delaying sending amendments to the 2024 budget schedules to Parliament is a negligence on the part of the government.
Mu'nis told Al-Maalouma, "Extending the legislative term of the House of Representatives for a month was aimed at allowing the government to complete and implement amendments to the special schedules for the 2024 budget and send them to Parliament within this period."
He added, "The committee believes that the delay in sending the schedules is negligent and cannot last longer due to the governorates and state sectors' need for funds to implement projects," indicating that "the committee is still waiting for them to be sent in order to study them and present them to the council for a vote."
The House of Representatives decided to extend the current legislative term for a period of 30 days, in order to wait for the 2024 budget schedules to be sent from the government and to resolve the crisis of electing a new Speaker of the House of Representatives. Ended / 25 AD LINK
A Government Meeting To Review The 2024 Budget Schedules
Money and business Economy News – Baghdad Today, Wednesday, the Minister of Planning, Muhammad Ali Tamim, chaired a ministerial meeting to review the schedules of the federal general budget for the year 2024.
A statement from the ministry received by “Al-Iqtisad News” stated, “Today, the Minister of Planning, Muhammad Ali Tamim, chaired a meeting of the committee concerned with reviewing the schedules of the federal general budget for the year 2024, in the presence of the Minister of Oil, Hayan Abdul-Ghani, the Minister of Construction, Housing, and Municipalities, Benkin Rikani, the Minister of Electricity, Ziad Ali Fadel, and the Prime Minister.
” The Office of Financial Supervision, Ammar Sobhi, the Prime Minister’s advisors for legal, economic and strategic affairs, the head of the legal department in the General Secretariat of the Council of Ministers, and also a delegation from the Kurdistan Regional Government, which included the Minister of Finance, the head of the Office of the Regional Council, the Secretariat of the Council of Ministers and the head of the Coordination and Follow-up Department.” .
He added, "During the meeting, a number of files were discussed on the agenda, including a discussion of the transfer mechanism for the Kurdistan Regional Government's allocations within the budget tables, especially with regard to employee compensation, social care, and regional government revenues, and the mechanism for handing them over to the federal government according to what was stated in the Federal Court's decision and the law." Financial management, and the state’s general budget law.”
He continued, "The meeting also discussed the discussion of maximizing revenues to reduce the percentage of the deficit contained in the general budget by creating legal texts to include electricity sales and local oil sales as revenues in the budget tables." Views 65 05/15/2024 - https://economy-news.net/content.php?id=43451
Al-Sudani Told An American Official: The Government Is Proceeding With Economic And Financial Reform
Political | 02:24 - 05/15/2024 Mawazine News - Baghdad Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Wednesday, that the government’s efforts and steps in the field of economic and financial reform, especially in the areas of tax, customs, and the banking sector, and completing the elements of an ideal investment environment
Al-Sudani’s media office stated in a statement received by Mawazine News that “Al-Sudani received US Assistant Secretary of State for Energy Resources Affairs Jeffrey Payette, in the presence of the US Ambassador to Iraq,” noting that “the meeting reviewed the most prominent files of cooperation in the field of energy, in all its forms, and ways to develop it.” “In a way that contributes to achieving common interests.”
The Prime Minister stressed “the government’s keenness to implement its executive approach within the axis of achieving energy self-sufficiency, in the areas of exploiting locally produced natural and associated gas, generating electricity, providing petroleum derivatives, and producing chemical fertilizers and petrochemical materials,” referring to the memorandums of understanding that were signed during his visit to The United States of America last April, which is being implemented on the ground.”
Al-Sudani pointed to "the government's efforts and steps in the field of economic and financial reform, especially in the areas of tax, customs, and the banking sector, and completing the elements of the ideal investment environment, calling on American companies to work and invest in Iraq."
For his part, Payet praised the efforts of the Iraqi government in developing the energy sector, noting that “the joint statement by Prime Minister Muhammad Shia al-Sudani and US President Joseph Biden represented a road map and a framework for fruitful work and cooperation.”
He stressed “the desire of American companies to invest and expand their activities within Iraq"
https://www.mawazin.net/Details.aspx?jimare=248040
Al-Sudani Calls On American Companies To Work And Invest In Iraq
Policy - 2024-05-15 Today, Wednesday, Al-Akhbariya - Baghdad, US Assistant Secretary of State for Energy Resources Affairs, Jeffrey Payette, confirmed on Wednesday the desire of American companies to invest and expand their activities inside Iraq.
The media office of Prime Minister Muhammad Shiaa Al-Sudani stated in a statement received by Al-Youm Al-Akhbariya that “Al-Sudani received US Assistant Secretary of State for Energy Resources Affairs Jeffrey Payette, in the presence of the US Ambassador to Iraq,” noting that “the meeting reviewed the most prominent files of cooperation in the field of energy, In all its forms, and ways to develop it, in a way that contributes to achieving common interests.”
Al-Sudani stressed, “The government’s keenness to implement its executive approach within the axis of achieving energy self-sufficiency, in the areas of exploiting locally produced natural and associated gas, generating electricity, providing petroleum derivatives, and producing chemical fertilizers and petrochemical materials,” referring to the memorandums of understanding that were signed during his visit to the United States of America. Last April, which is being implemented on the ground.”
Al-Sudani pointed to "the government's efforts and steps in the field of economic and financial reform, especially in the areas of tax, customs, and the banking sector, and completing the elements of the ideal investment environment, calling on American companies to work and invest in Iraq."
For his part, Payet praised the efforts of the Iraqi government in developing the energy sector, noting that “the joint statement by Prime Minister Muhammad Shia al-Sudani and US President Joseph Biden represented a road map and a framework for fruitful work and cooperation.”
He stressed “the desire of American companies to invest and expand their activities within Iraq".
https://today-agency.net/Details/11004#hathalyoum
The President Of The Republic: Iraq Is Facing A New Stage And Horizons Of Growth And Economic Development
Baghdad - IA The President of the Republic, Abdul Latif Jamal Rashid, confirmed today, Wednesday, that Iraq is facing a new stage and horizons of growth and economic development.
The Presidency’s Media Department stated, in a statement received by the Iraqi News Agency (INA), that “The President of the Republic, Abdul Latif Jamal Rashid, received today at Al-Salam Palace in Baghdad, the Vice President of the World Bank for the Middle East and North Africa, Othman Dion, and his accompanying delegation, where the President welcomed... At the beginning of the meeting, the delegation also congratulated Dion on the occasion of assuming his position.
The President of the Republic explained "the importance of strengthening relations between Iraq and the World Bank, noting" the necessity of working to consolidate cooperation and joint coordination in the financial, monetary and technical sectors in a way that strengthens the Iraqi economy.
He pointed out that "Iraq is facing a new stage and horizons of growth and economic development," stressing that "the government's ministerial program includes the implementation of construction and reconstruction projects and infrastructure development."
The President of the Republic stated that "one of our priorities is to establish security and stability in the country because it is the starting point for achieving comprehensive development, developing the economy, investing, and undertaking strategic projects that serve citizens and improve their living conditions," noting that "Iraq is full of human energies, competencies, and expertise."
For his part, Othman Dion expressed his happiness at visiting Iraq and learning directly about the situation in Iraq, praising "the progress that has been achieved."
He also reviewed the work of the World Bank in Iraq in the fields of water, energy, and reducing unemployment. https://www.ina.iq/208846--.html#hathalyoum
New Policies May Push Iraq To Add 75 Thousand Barrels Of Oil Per Day To Its OPEC Quota
Economy - 2024-05-15 Kazakhstan later on Tuesday opened a thorny debate over OPEC+ production levels, saying it believes it should be allowed to pump more oil in 2025, when all of the producers' group's current production cuts end.
OPEC+ commissioned three companies - IHS, Wood Mackenzie and Rystad Energy - to assess the capabilities of all members for use in reference production - figures by which production cuts or increases are calculated - from 2025. The reviews are scheduled to take place by 2025. End of June.
As a result, the issue will not come up at the June 1 meeting, allowing the group to decide on policy for the rest of 2024 more easily, five OPEC+ sources said. But it also means the June meeting won't give the market much policy guidance for 2025, when all the current cuts end.
One OPEC+ source who requested anonymity said: “Figures related to production capabilities will not be presented at the June meeting,” adding that “the reason is that some countries have not fully concluded their discussions with secondary sources.”
The UAE is expected to gain up to 180,000 barrels per day of additional capacity until 2027, while Kazakhstan is expected to gain up to 80,000 barrels per day of new capacity, according to estimates by JPMorgan. Iraq can add another 50 to 75 thousand barrels per day.
The International Monetary Fund estimates that Saudi Arabia needs an oil price of $96.20 this year to balance its budget, then falling to $84.70 in 2025.
Iraq's budget needs an oil price of $90 next year, and Algeria and Kazakhstan need prices well above $100. dollar. https://today-agency.net/Details/10951
Iraqi Dinar Today Video Updates Wednesday AM 5-15-24
Iraqi Dinar Today Video Updates Wednesday AM 5-15-24
JP Morgan Chase Bank, WTO & IMF Revealing Zimbabwe Dollar Have Been Approved – 4:28
Wells Fargo Massive announcement – 3:14
Vietnamese Dong Set 4.58$ New Rate – 3:30
Iraqi Dinar Today Video Updates Wednesday AM 5-15-24
JP Morgan Chase Bank, WTO & IMF Revealing Zimbabwe Dollar Have Been Approved – 4:28
Wells Fargo Massive announcement – 3:14
Vietnamese Dong Set 4.58$ New Rate – 3:30
JP Morgan Chase Bank, WTO & IMF Revealing Zimbabwe Dollar Have Been Approved – 4:28
Wells Fargo Massive announcement – 3:14
Vietnamese Dong Set 4.58$ New Rate – 3:30
5 Ways The Rockefellers Created Generational Wealth
5 Ways The Rockefellers Created Generational Wealth
The Rockefellers Are Still One of the Richest Families of All Time — 5 Ways They Created Generational Wealth
Dawn Allcot Sun, May 12, 2024
Only 10% of family wealth makes it to the third generation, according to a landmark Williams Group wealth consultancy study reported by Reuters in 2015. But a handful of families throughout history have managed to buck this “third generation curse” to create a legacy that has lasted for centuries. Among the best known are the Rockefellers.
How John D. Rockefeller Built His Wealth
John D. Rockefeller was one of the most famous business moguls of the 19th and early 20th centuries, building his family’s fortune through the Standard Oil Company. His company controlled 90% of the U.S. refineries and pipelines at a time when a need for oil was increasing thanks to the introduction of internal combustion engines and growing demands for electricity, according to History.
Rockefeller had amassed a net worth of nearly $900 million by 1912, according to Smithsonian Magazine. That’s equivalent to about $28 billion in today’s dollars and a staggering sum by 1912 standards.
5 Ways The Rockefellers Created Generational Wealth
The Rockefellers Are Still One of the Richest Families of All Time — 5 Ways They Created Generational Wealth
Dawn Allcot Sun, May 12, 2024
Only 10% of family wealth makes it to the third generation, according to a landmark Williams Group wealth consultancy study reported by Reuters in 2015. But a handful of families throughout history have managed to buck this “third generation curse” to create a legacy that has lasted for centuries. Among the best known are the Rockefellers.
How John D. Rockefeller Built His Wealth
John D. Rockefeller was one of the most famous business moguls of the 19th and early 20th centuries, building his family’s fortune through the Standard Oil Company. His company controlled 90% of the U.S. refineries and pipelines at a time when a need for oil was increasing thanks to the introduction of internal combustion engines and growing demands for electricity, according to History.
Rockefeller had amassed a net worth of nearly $900 million by 1912, according to Smithsonian Magazine. That’s equivalent to about $28 billion in today’s dollars and a staggering sum by 1912 standards.
Ultimately, the Supreme Court ordered the dissolution of the Standard Oil Trust, declaring it in violation of antitrust laws. The move broke Standard Oil into a number of businesses that used the Standard Oil name. Subsequent mergers created oil and gas industry leaders like ExxonMobil and Chevron.
The Rockefeller family’s name and wealth live on — And so do its philanthropic efforts, including $500 million John Rockefeller personally gifted to charities.
The Rockefeller Family Today
The Rockefeller family is 200 members strong and has a cumulative net worth of $10.3 billion, according to Forbes. The wealthiest and most prominent family member of this century, David Rockefeller, was the world’s oldest billionaire at 101 years old, with a net worth of $3.3 billion when he died in 2017.
How the Rockefellers Created Generational Wealth
What did the Rockefeller family do right that so many other families fail to implement?
Accounted for Every Dollar
Whether your net worth measures in the seven figures or you’re living paycheck to paycheck, every dollar without a specific job is in danger of being wasted. The Rockefellers have a team of financial managers to ensure that every dollar is put to good use, leveraging their money to make more money.
Established a Family Office
The Rockefellers were the first family to establish a full-service single family office in the U.S., according to Deloitte. The Rockefeller Global Family Office manages all facets of the family’s wealth, investments and business dealings.
Created Irrevocable Trusts
The Rockefellers use irrevocable trusts, which heirs cannot easily change, to ensure that money gets passed on as it should, according to Barrons. An irrevocable trust removes assets from your taxable estate, which means your heirs might not pay tax on that money. An irrevocable trust can also protect those assets from lawsuits or creditors, which can provide a benefit if you are a high-profile personality or in a high-risk career where you might get sued.
Leveraged Legal Tax Avoidance Strategies
To Read More:
https://news.yahoo.com/finance/news/rockefellers-still-one-richest-families-000009583.html
KTFA Tues. Night CC: “FRANK26….5-14-24….LESS OF ME”
KTFA
Tuesday Night conference Call
FRANK26….5-14-24….LESS OF ME
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#
KTFA
Tuesday Night conference Call
FRANK26….5-14-24….LESS OF ME
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#
Economist’s “News and Views” Tuesday 5-14-2024
Peter Schiff: “US and EU will have Argentina-type inflation”
Reinvent Money: 5-14-2924
Paul Buitink talks to Peter Schiff, founder of Schiffgold, about the increasing global debt levels.
When Paul asks which currency is in the most trouble, Peter responds that's it looking bad for all and especially for the US dollar.
It's just because of its world reserve status that on the surface the dollar still doesn't look as bad as the others. He believes that debt will increase in both the U.S. and the EU, with politicians prioritizing reelection over the economic and public well-being.
This unsustainable trajectory, he warns, may lead to Argentina-style inflation, because politicians won't dare to default.
Peter talks about the endgame for the current financial system and the role the dollar and gold will play going forward.
Peter Schiff: “US and EU will have Argentina-type inflation”
Reinvent Money: 5-14-2924
Paul Buitink talks to Peter Schiff, founder of Schiffgold, about the increasing global debt levels.
When Paul asks which currency is in the most trouble, Peter responds that's it looking bad for all and especially for the US dollar.
It's just because of its world reserve status that on the surface the dollar still doesn't look as bad as the others. He believes that debt will increase in both the U.S. and the EU, with politicians prioritizing reelection over the economic and public well-being.
This unsustainable trajectory, he warns, may lead to Argentina-style inflation, because politicians won't dare to default.
Peter talks about the endgame for the current financial system and the role the dollar and gold will play going forward.
Peter remains skeptical about the value of cryptocurrencies like bitcoin. In his view, a cryptocurrency only has real value when backed by a tangible asset such as gold.
Without such backing, he argues, cryptocurrencies lack inherent value. Peter says you have tot protect yourself with gold and other non-printable assets.
My Favorite Chart: What Happens When Purchasing Power Becomes ZERO?
Lynette Zang: 5-14-2024
SHOCKING $8.9 Trillion US Debt Due THIS SUMMER
5-14-2024
The U.S. banking sector is at a crossroads as over $400 billion in unrealized losses loom large, exacerbated by unyielding interest rates, setting the stage for a potential crisis of epic proportions.
With multiple bank failures already a reality, tensions rise as the looming maturity of $8.9 trillion in government debt threatens to tip the scales of financial stability.
CHAPTERS:
00:00 $8.9 Trillion US Debt Due
01:22 Unrealized Bank Losses
02:36 Debt Maturity 2024
05:23 Banks In Limbo
Iraq Economic News and Points to Ponder Tuesday Afternoon 5-14-24
Iraq Economic News and Points to Ponder Tuesday Afternoon 5-14-24
Including A Capital Increase Of 400 Billion Dinars... A Number Of Files On The Table Of The Bank Of Baghdad Authority
Economy News – Baghdad The General Authority of the Bank of Baghdad intends to hold a meeting on May 18 to discuss a number of files, including increasing the capital to 400 billion dinars.
The bank’s media stated in a statement, received by “Al-Iqtisad News”, that “the general authority of the bank will hold a meeting on next May 18 to discuss and approve the annual financial statements for the year 2023, distribute profits, and increase the paid-up capital from 300.0 billion Iraqi dinars to 400.0 billion Iraqi dinars in accordance with the provisions of Article 55/second, at a rate of 33.3%, and an agreement with the Jordan Kuwait Bank, in addition to stopping trading in the bank’s shares as of May 14.”
He added, "Net profits grew by 44% on a quarterly basis in the first quarter of 2024, driven by a decrease in provisions for credit losses and an increase in commissions and foreign currency revenues; an increase in net profit on an annual basis by 203%."
Iraq Economic News and Points to Ponder Tuesday Afternoon 5-14-24
Including A Capital Increase Of 400 Billion Dinars... A Number Of Files On The Table Of The Bank Of Baghdad Authority
Economy News – Baghdad The General Authority of the Bank of Baghdad intends to hold a meeting on May 18 to discuss a number of files, including increasing the capital to 400 billion dinars.
The bank’s media stated in a statement, received by “Al-Iqtisad News”, that “the general authority of the bank will hold a meeting on next May 18 to discuss and approve the annual financial statements for the year 2023, distribute profits, and increase the paid-up capital from 300.0 billion Iraqi dinars to 400.0 billion Iraqi dinars in accordance with the provisions of Article 55/second, at a rate of 33.3%, and an agreement with the Jordan Kuwait Bank, in addition to stopping trading in the bank’s shares as of May 14.”
He added, "Net profits grew by 44% on a quarterly basis in the first quarter of 2024, driven by a decrease in provisions for credit losses and an increase in commissions and foreign currency revenues; an increase in net profit on an annual basis by 203%."
He pointed out, "The Bank of Baghdad showed significant growth in net profits after tax in the first quarter of 2024, which rose by 44% on a quarterly basis and 203% on an annual basis, reaching 76.1 billion Iraqi dinars ($58.1 million)."
He stated, “Net commission income increased by 12% on a quarterly basis (+241% on an annual basis) to reach 58.0 billion Iraqi dinars ($44.2 million) in the first quarter of 2024, mainly due to the increase in bank transfer commissions.” and lower commission expenses.
He pointed out, "The bank recorded a net growth in income from foreign currencies of 29% on a quarterly basis (+141% on an annual basis) in the first quarter of 2024, reaching 27.6 billion Iraqi dinars ($21.0 million)," indicating Provisions for expected credit losses decreased from 16.1 billion Iraqi dinars ($12.2 million) in the fourth quarter of 2023 to 2.2 billion Iraqi dinars ($1.7 million) in the first quarter of 2024 due to a decrease in provisions for expected credit losses on cash held by central banks. And provisions for expected credit losses on balances with banks and financial institutions.”
The statement continued: “A 4% decrease on a quarterly basis in total assets in the first quarter of 2024, driven by a decrease in customer deposits, offset by growth in equity; strong growth in financial assets; growth of total outstanding assets on an annual basis by 45%.” In addition to "a decrease in the total assets of the Bank of Baghdad by 4% on a quarterly basis (+45% on an annual basis) to 2.6 trillion Iraqi dinars ($2.0 billion) at the end of the third month of 2024."
He stressed that “the bank is the second largest bank listed on the Iraqi Stock Exchange based on its assets and deposits,” noting that “customer deposits decreased by 9% on a quarterly basis (+48% on an annual basis) to reach 2.0 trillion Iraqi dinars ( $1.5 billion) driven by a decrease in corporate current and call accounts, partially offset by an increase in corporate term deposits.”
He noted that “ownership rights grew by 16% on a quarterly basis (+54% on an annual basis) to reach 548.4 billion Iraqi dinars ($361.6 million) at the end of the third month of 2024 due to recording net profits amounting to 76.1 billion Iraqi dinars ($58.1 million). million dollars) in the first quarter of 2024.
The statement added: “The Bank of Baghdad records the highest annual return on average assets and the return on average equity in the first three months of 2024 among the banks listed on the Iraq Stock Exchange,” stressing that “The Bank of Baghdad almost doubled the percentage of annual return on average assets from 5.7.” % in the first three months of 2023 to 11.3% in the first three months of 2024.
He stated, "The bank doubled the annual return on the average equity ratio from 28.4% in the first three months of 2023 to 59.5% in the first three months of 2024." 115 views 05/14/2024 - https://economy-news.net/content.php?id=43404
Iraq Increases Its Gold Reserves To Exceed 145 Tons
Economy | 05/14/2024 Mawazine News – Baghdad Iraq's gold reserves witnessed a noticeable increase during the month of February 2024, as International Monetary Fund data showed that Iraq had increased its possession of the precious metal by 3,079 tons, bringing the total to 145,661 tons.
This increase indicates Iraq's continued strategy to diversify its foreign reserves and enhance financial and monetary stability in the long term.
Gold is a traditional safe haven for investors, especially during periods of economic and geopolitical uncertainty.
This step by Iraq comes at a time when the world is witnessing a rise in gold prices, as the price reached its highest level in its history last month above $2,400 per ounce.
Iraq is among the countries that possess large amounts of gold reserves in the Arab region, as it ranks fourth after Saudi Arabia, Algeria, and Morocco.
In general, this increase in Iraq's gold reserves is considered a positive indicator of the health and strength of the Iraqi economy. https://www.mawazin.net/Details.aspx?jimare=247934
Within A Month... Iraq's Oil Exports To America Exceed 8 Million Barrels
Money and business Economy News – Baghdad The US Energy Information Administration announced on Tuesday that Iraq's oil exports to America amounted to more than 8 million barrels during the month of April.
The administration said in its table, “Iraq exported 8.866 million barrels of crude oil to America during the month of March, with an average of 295 thousand barrels per day, higher than the month of March, in which Iraqi oil exports to America amounted to 5.483 million barrels, with an average of 176 thousand barrels per day.” .
She added, "Iraq exported an average of 142,000 barrels per day of crude oil to America during the first week of April, while it exported an average of 308,000 barrels per day in the second week, and exported an average of 309,000 barrels per day in the third week," noting that "the week's exports The fourth average reached 307 thousand barrels per day.
The US Energy Information Administration stated that “Iraq ranked fourth in its exports to America during the past month after Canada, Mexico, and Saudi Arabia, and ranked second in the Arab world after Saudi Arabia,” indicating that “Canada ranked first as the country that exports the most oil to America, followed by Mexico.” - https://economy-news.net/content.php?id=43410
Oil Prices Stabilize Awaiting OPEC Report
Time: 05/14/2024 Read: 897 times {Economic: Al-Furat News} Oil prices stabilized as markets awaited the release of OPEC’s report on its expectations for the global energy market.
US crude futures rose by 0.13% to $79.22 per barrel, while Brent crude futures rose by 0.12% to $83.46 per barrel.
In yesterday's trading, US crude contracts ended trading with an increase of 1.1% at $79.12 per barrel, while Brent contracts closed with an increase of 0.7% at $83.36 per barrel. LINK
After Implementing Electronic Systems, Customs Announces A “Historic” Increase In Its Revenues
Economy Yesterday, 21:41 Baghdad - IA - Wissam Al-Mulla The General Authority of Customs announced today, Tuesday, achieving what it described as a historic increase in its revenue rate during the first quarter of this year, while
it expected a doubling of revenues once the automation project is completed.
The head of the General Authority for Customs, Hassan Al-Ugaili, told the Iraqi News Agency (INA):
“During the years 2022 and 2023, the General Authority for Customs achieved an increase in the percentage of its revenues, and last year it reached 28%.” He added,
"In the first quarter of this year, the Authority achieved an increase of 120% over the first quarter of last year, as the first quarter of this year is the highest revenue since the founding of the Customs." He continued,
"The increase came as a result of a set of measures by the authority through simplifying procedures, in addition to monitoring and implementing some electronic systems," pointing out that
"the authority is in the process of generalizing the application of electronic systems in all ports of the Iraqi state, and
we hope in the middle of next year to end automation in all Customs centers. He pointed out that
“the authority is looking forward to achieving an increase in revenues this year to more than 100% over the previous year,” expecting that
“if automation is completed and fully disseminated, the increase may reach three times.” https://www.ina.iq/208827--.html
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
Iraqi Dinar Video Update Tuesday Afternoon 5-14-24
Iraqi Dinar Video Update Tuesday Afternoon 5-14-24
Iraqi Dinar Revaluation Approved – 3:14
WOW Vietnamese Dong Set 4 58$ New Rate – 2:50
JP Morgan Chase Bank Big Changed IQD New Rate – 3:37
Iraqi Dinar Video Update Tuesday Afternoon 5-14-24
Iraqi Dinar Revaluation Approved – 3:14
WOW Vietnamese Dong Set 4 58$ New Rate – 2:50
JP Morgan Chase Bank Big Changed IQD New Rate – 3:37
Iraqi Dinar Revaluation Approved – 3:14
WOW Vietnamese Dong Set 4 58$ New Rate – 2:50
JP Morgan Chase Bank Big Changed IQD New Rate – 3:37
Goldilocks' Comments and Global Economic News Tuesday Evening 5-14-24
Goldilocks' Comments and Global Economic News Tuesday Evening 5-14-24
Good Evening Dinar Recaps,
Prudential treatment of cryptoasset exposures | BIS
"The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 13 May 2024."
During this meeting, they set up a new Basel 3 standard timeline for crypto asset implementation.
The new timeline was moved from January 1st, 2025 to January 1st, 2026. It is expected that 2/3s of our crypto assets will be done by the end of this year.
The committee wanted to reiterate that the expectation is for these crypto assets to be implemented into Basel 3 "as soon as possible." It is important to know that the bank's exposure to tokenized traditional assets, stablecoins, and unbacked cryptoassets is still set for January 1st, 2025.
It is the crypto assets standards that will continue on until January 1st, 2026. BIS © Goldilocks ~~~~~~~~~
Goldilocks' Comments and Global Economic News Tuesday Evening 5-14-24
Good Evening Dinar Recaps,
Prudential treatment of cryptoasset exposures | BIS
"The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 13 May 2024."
During this meeting, they set up a new Basel 3 standard timeline for crypto asset implementation.
The new timeline was moved from January 1st, 2025 to January 1st, 2026. It is expected that 2/3s of our crypto assets will be done by the end of this year.
The committee wanted to reiterate that the expectation is for these crypto assets to be implemented into Basel 3 "as soon as possible."
It is important to know that the bank's exposure to tokenized traditional assets, stablecoins, and unbacked cryptoassets is still set for January 1st, 2025.
It is the crypto assets standards that will continue on until January 1st, 2026. BIS
© Goldilocks
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"UAE: Liv Digital Bank enters tokenization deal targeting Gen Zs" | CoinGeek
We are moving at a rapid pace at this point in the tokenization of our assets around the world.
You are going to notice the word digital added to many banking titles and companies going forward. Old traditional assets have been reformed into digital assets.
Hong Kong is leading the way in the digital asset transformation, and the innovation of our new banking system on a global scale is in its final stages there.
Hong Kong is presently finishing up many of their pilot programs, and their movement forward will lead our way into the new digital age.
© Goldilocks
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Franklin Templeton CEO: All Investment Funds Going Blockchain | Crypto Times
"Jenny Johnson, CEO of the $1.6 trillion asset management giant Franklin Templeton, stated that all exchange-traded funds (ETFs) and mutual funds will eventually migrate to blockchain technology."
I know we have gone over this several times, but this gives you an idea of how much money is transferred into blockchain technology.
This is just one of many companies that are doing the same as we speak.
Institutional money and institutional integration are beginning to take place on the blockchain at larger magnitudes indicating that the new digital economy is moving towards mass adoption.
© Goldilocks
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U.S. banks undertake blockchain experiment | Investment Executive
"The U.S. financial sector is exploring the idea of tokenizing various financial instruments, including U.S. Treasuries, wholesale central bank money, and commercial bank money, which would enable transactions in these instruments to settle on a single shared ledger.
Currently, transactions in various components of the wholesale financial system all take place on separate systems. A new project will examine the concept of tokenizing these instruments to facilitate settlement on a single platform, under existing legal frameworks.
SIFMA is serving as project manager, with participation from several large financial institutions including Citi, J.P. Morgan, Mastercard, Swift, TD Bank N.A., U.S. Bank, USDF, Wells Fargo, Visa, and Zions Bancorp.
Other project contributors include the Bank of New York Mellon, Broadridge, DTCC, the International Swaps and Derivatives Association, Tassat Group, and the MITRE Corp"
I want to point out that this article is sharing with us how this new experiment is being conducted on the Swift System and the new Digital Ledger Transmission System (DLT) Ledger.
This indicates that the movement of foreign currency exchange services is transitioning from wire services that can take days for transmissions to occur to electronic exchange services that are done in a matter of seconds and far more cost-efficient.
This is what my banker friend was referring to yesterday as to why her friend was going through foreign exchange services training.
© Goldilocks
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Tokenizing assets on a scalable blockchain | Naeem Aslam, Antonino Sardegno, Stas Trock | Youtube
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Swarm Markets (SMT) Price Today, News & Live Chart | Forbes Crypto Market Data
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...by the Securities and Exchange Commission
H.J. Res. 109 would invalidate SEC Staff Accounting Bulletin 121 (SAB 121), which reflects considered SEC staff views regarding the accounting obligations of certain firms that safeguard crypto-assets. 6 days ago
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SEC issues SAB 121 on digital asset custodial obligations | KPMG
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👆The US is still working on who has governing power over these digital assets. This is why many Governments are moving ahead of the United States in the mobilization of the new digital economy.
This is why the MICA regulations are so important for us to finish. It will give more clarity and government power to authentic leaders in government to facilitate the movement of our new digital economy. House Financial Services
© Goldilocks
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US Department of Treasury, Pacific Northwest National Laboratory, and Cloudflare Partner to Share Early Warning Threat | CoudFlare
San Francisco, CA, May 9, 2024 – Cloudflare, Inc (NYSE: NET), the leading connectivity cloud company, today announced a partnership with the United States Department of Treasury and Pacific Northwest National Laboratory (PNNL) under the Department of Energy to improve the cyber resilience of the financial services industry by sharing an advanced threat intelligence feed through Cloudflare. With this new offering, financial services institutions that are using Cloudflare Gateway now have privileged access to Custom Indicator Feeds that share threat indicators and enable direct action to be taken, to better defend against ransomware, phishing, and other threats.
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Ranking Member Waters Statement on Resolution to Overturn SEC’s Guidance on Crypto Assets: H.J. Res. 109 “Would Have Broad and Negative Consequences for All Public Companies and Their Investors, with Implications for the Entire Securities Market, Not Just Crypto.” | U.S. House Committee on Financial Services Democrats
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May 9, 2024
Tokenized Real-World Assets: Pathways to SEC Registration
By: Ryan Mitteness, Ryan M. McRobert, Andrew T. Albertson
What You Need to Know
Global demand for Tokenized Real-World Assets (RWAs) is growing rapidly in the decentralized finance (DeFi) community and traditional finance industry.
Tokenized RWAs allow legal ownership or rights to traditionally illiquid assets to be digitalized and traded on digital platforms, leading to expedited settlements and potentially reduced operating costs.
Regulatory hurdles have slowed adoption in U.S. markets where companies have to navigate existing securities laws and often lengthy review processes by the Securities Exchange Commission (SEC).
While a clear preferred registration pathway through the SEC for tokenized RWAs has yet to emerge, there are various potential approaches issuers of RWAs may explore for broadly marketed offerings in the United States. Fenwick
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ETFs and mutual funds are all going to be on blockchain, says Franklin Templeton CEO - Ledger Insights - blockchain for enterprise | LedgerInsights
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Thank you everyone for your participation in this room. I thought I would give you an idea of the statistics that actually take place in this room. This is the current total.
It is important to note that almost 50% of the people in this room actually come to it every day. This is very rare due to the fact that most people join rooms and then move on to others.
What you are looking at above is an active room where people realize and know that the information being shared is important, and I take this room and the lives of the people within it as an important piece instilled within my heart of prayer each and every day as I write to support and encourage all of us to move forward in faith, hope, and love.
© Goldilocks
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ECB conducts first DLT trials for wholesale central bank money settlement | FinExtra
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Report on OTC derivatives data reporting and aggregation requirements
The final regulations come into operation on 21 October 2024, introducing the UPI, UTI, CDE and ISO 20022 in reporting.10 hours ago
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Miami Federal Court Orders Multiple Individuals and Entities to Pay Over $225 Million for Foreign Currency Fraud and Misappropriation Scheme | CFTC
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May 14, 2024
Washington, D.C. — The Commodity Futures Trading Commission today announced the Honorable Darrin P. Gayles of the U.S. District Court for the Southern District of Florida issued an order of default judgment against four individuals and five companies (nine defendants): Jase Davis of Brandon, Mississippi; Borys Konovalenko of Ukraine; Anna Shymko of Duluth, Georgia; Alla Skala of Grand Island, New York and/or Fort Erie, Canada; Easy Com LLC d/b/a ROFX, a New Hampshire LLC; Global E-Advantages LLC a/k/a Kickmagic LLC d/b/a ROFX, a Delaware LLC and New York foreign LLC; Grovee LLC d/b/a ROFX, a Delaware LLC; Notus LLC d/b/a ROFX, a dissolved Colorado LLC; and Shopostar LLC d/b/a ROFX, a Colorado LLC.
The default judgment order stems from the CFTC’s August 31, 2022 amended complaint charging the nine defendants and defendant Timothy F. Stubbs with fraud, misappropriation, and registration violations in connection with a fraudulent foreign currency (forex) scheme. [See CFTC Press Release Nos. 8486-22 and 8790-23]
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DTCC Comments on Industry’s Affirmation Progress | DTCC
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H.R.4766 - 118th Congress (2023-2024): Clarity for Payment Stablecoins Act of 2023 | Congress Gov
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Using MRI, engineers have found a way to detect light deep in the brain | MIT News | Massachusetts Institute of Technology
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Thank you Dinar Recaps
Some “Tuesday News” Posted by Clare at KTFA
KTFA:
Clare: Al-Sudani announces the imminent formation of a directorate concerned with the affairs of the Iraqi community in the world
5/14/2024
Prime Minister Muhammad Shiaa Al-Sudani announced, on Tuesday, the imminent formation of a directorate in the Prime Minister’s Office concerned with the affairs of the Iraqi community in the world.
This came during his meeting with the delegation of the General Synod of the Evangelical Seventh-day Adventist Church, headed by Pastor Magdel Izer Schulz, Assistant President of the Church in the World, and his accompanying delegation.
Al-Sudani explained that the goal of forming this directorate is “in order to maintain communication (i.e., the Iraqi community) with their country, and to benefit from their experiences in construction and reconstruction.”
The Prime Minister also expressed the government's readiness to cooperate in reopening the Seventh-day Adventist Church in Baghdad, as part of its care for the members of this sect and other sects. LINK
KTFA:
Clare: Al-Sudani announces the imminent formation of a directorate concerned with the affairs of the Iraqi community in the world
5/14/2024
Prime Minister Muhammad Shiaa Al-Sudani announced, on Tuesday, the imminent formation of a directorate in the Prime Minister’s Office concerned with the affairs of the Iraqi community in the world.
This came during his meeting with the delegation of the General Synod of the Evangelical Seventh-day Adventist Church, headed by Pastor Magdel Izer Schulz, Assistant President of the Church in the World, and his accompanying delegation.
Al-Sudani explained that the goal of forming this directorate is “in order to maintain communication (i.e., the Iraqi community) with their country, and to benefit from their experiences in construction and reconstruction.”
The Prime Minister also expressed the government's readiness to cooperate in reopening the Seventh-day Adventist Church in Baghdad, as part of its care for the members of this sect and other sects. LINK
Clare: Nechirvan Barzani makes a new visit to Baghdad to meet with Al-Sudani
5/14/2024
The official spokesman for the Presidency of the Kurdistan Region, Dilshad Shihab, said that Nechirvan Barzani, President of the Kurdistan Region, is visiting Baghdad today, Tuesday.
Regarding the visit program, Shehab indicated in a statement published on the official website of the regional presidency today, that President Nechirvan Barzani will meet with the Federal Prime Minister of Iraq, Muhammad Shia al-Sudani, to discuss Erbil-Baghdad relations and issues of common interest.
At the end of last April, the President of the Region made a visit to the federal capital, Baghdad, and held meetings with the Presidents of the Republic, the ministers, and a group of political party leaders. He also participated in a meeting of the State Administration Coalition. LINK
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Clare: The automobile trade announces a new mechanism to open production lines with international companies
5/14/2024 Baghdad
The General Company for Automotive Trading revealed today, Tuesday, that it is adopting a new mechanism to open production lines with international companies, while indicating a move to equip the departments with vehicles and equipment.
The Director General of the company affiliated with the Ministry of Commerce, Hashim Al-Sudani, said in an interview with the Iraqi News Agency, followed by Al-Eqtisad News, that “theGeneral Company for Automotive Trade seeks to equip state departments with
machinery, equipment, and vehicles of various types and from well-known international origins.”
He added that "contracts were concluded with state departments, in addition to participation in tenders announced by the ministry," indicating that "the company's future plans aim to achieve real partnerships with the manufacturer directly and not with the middle merchant or agent, so that the company is the official representative of the manufacturing companies." Inside Iraq, visits were made to automobile factories in Brazil and Europe, in addition to Spanish, Italian and French companies.”
He pointed out that "the company's plan is moving towards agreement with these companies and seeking to open production lines in agreement with the Ministry of Industry and Minerals and opening factories to produce these machines and equipment inside Iraq, especially after the decision to implement the development path, as it will open horizons and facilitate trade, and Iraq will be the focus of the world's attention." LINK
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Clare: Iraq increases its possession of gold by more than three tons, bringing the total to "145,661" tons
5/14/2024
Iraq's gold reserves witnessed a noticeable increase during the month of February 2024, as International Monetary Fund data showed that "Iraq has increased its possession of the precious metal by 3,079 tons, bringing the total to 145,661 tons."
This increase indicates "Iraq's continued strategy to diversify its foreign reserves and enhance financial and monetary stability in the long term."
Gold is a traditional safe haven for investors, especially during periods of economic and geopolitical uncertainty.
This step by Iraq comes at a time when the world is witnessing a rise in gold prices, as the price reached its highest level in its history last month above $2,400 per ounce.
Iraq is among the countries that possess large amounts of gold reserves in the Arab region, as it ranks fourth after Saudi Arabia, Algeria, and Morocco.
In general, this increase in Iraq's gold reserves is considered a positive indicator of the health and strength of the Iraqi economy. LINK
DeepWoodz: Just a heads up. This should read 145 tons. The comma is a decimal. But yall prolly knew that.
Clare: Sudanese directs to hold an extraordinary session next Sunday to discuss the 2024 budget schedules
5/14/2024
Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani directed that an “extraordinary” session of the Council be held next Sunday, to discuss the federal budget schedules for the year 2024.
This came during his presidency of the twentieth regular session of the Council of Ministers, during which the general situation in the country was discussed, and a number of vital files included within the government’s program were discussed, in addition to considering the topics on the agenda and taking the necessary decisions regarding them.
A statement from Al-Sudani’s office, a copy of which was received by NRT Arabic, stated that the Prime Minister directed that an extraordinary session of the Council be held next Sunday, May 19, to discuss the federal budget schedules for the year 2024.
He directed the formation of a committee headed by a representative of the Ministry of Planning and membership of representatives of the Ministry of Finance, the Council of Advisors, the General Secretariat of the Council of Ministers, and the Federal Public Service Council, which will re-examine (the draft Public Service Institute Law) and submit its recommendations within one working month to the Council of Ministers to take the appropriate decision.
Based on the directives of Prime Minister Muhammad Shiaa Al-Sudani, issued in February 2023, the Council of Ministers approved proceeding with the procedures for evacuating and opening the military zone (known as the Fifth Division) in the city of Kadhimiya, and converting its land into recreational, educational and cultural facilities, hotels, hospitals, health and medical centers, sports stadiums, and a defense center.
The city and cities for visitors, according to an integrated architectural vision, and a special conference will be held on this topic, and specialized international companies will be approved to implement these vital and important projects, which will serve the city’s people and visitors. As part of implementing the government’s approach, which aims to restart lagging projects and address the problems and obstacles they face, the following was approved:
Firstly, changing the name of the project (Rehabilitation of the Martyr Othman Al-Obaidi Hall) to become (Rehabilitation of the Martyr Othman Al-Obaidi Hall - Method of Implementation: Secretariat), and increasing the total cost of the project.
Secondly: Increasing the total cost and the amount of reserve for the project (constructing the second corridor of the road leading to the Tarmiyah District, with a length of 15 km).
Third: Increasing the total cost of the project (equipping, installing, inspecting and operating the Al-Kahla secondary mobile in Al-Kahla district). Fourth: Creating a component (the remaining works for the project to expand the Tourism Department building in Holy Karbala/the Center).
In the field of the educational sector, and in order to speed up the process of printing textbooks and provide them at the required times, the Council of Ministers approved the recommendations of the Audit Committee regarding the printing of textbooks as follows:
1- Authorizing the Ministry of Education to assign (Al-Nahrain General Company) to complete the work of printing school books and notebooks, and excluding it from the contracting methods stipulated in the Instructions for Implementing Government Contracts (2 of 2014) before holding any tender, in order to exploit its full production capacity and rely exclusively on its machines. Provided that the aforementioned Ministry shall provide full support to the company from the Central Education Fund to Al-Nahrain General Company in providing the necessary amounts to purchase the raw materials involved in the printing work at the specified times, in a way that ensures the completion of contracts from the company, in light of the instructions and controls, and is spent from the Fund’s funds.
2- Referring the remainder and surplus capacity of the Al-Nahrain General Company, using the public tender method, to the public and private sector printers at an amount of (50%) for each, provided that a schedule worth two billion dinars is allowed for each company, without being restricted by the number of titles, and that the books reach the students within the timings. Determined before the start of the school year.
3- Obliging the Ministry of Education to adhere to the financial allocations included in the 2024 estimates tables upon contracting, and the Ministry of Finance must provide funding to ensure the Ministry of Education’s commitment to fulfilling its contractual obligations and delivering books to students within the specified times before the start of the academic year.
4- Continuation of implementation of Cabinet Resolution (23424 of 2023) so that the period between referral and signing of the contract will be (5) working days for textbook printing contracts, without the need to issue a warning to the printing press that is reluctant to sign the contracts.
The Council of Ministers approved the following:
1- The Ministry of Oil contracted with the Military Industrialization Authority to purchase machinery from its financial allocations, provided that the amount required for purchase, amounting to (76.150) billion dinars, would be divided among its extractive companies benefiting from the service of the Energy Police Directorate, in two stages:
-The first phase (43.65) billion dinars.
-The other stage (32.5) billion dinars, regarding the request for an M4 (Babylon) rifle weapon, will be considered later. The Ministry of Oil will gift these mechanisms to the Ministry of the Interior for the purposes of the tasks of the Energy Police Directorate, in accordance with the provisions of the instructions to facilitate the implementation of the General Budget Law, as an exception to the requirement that these goods be not purchased during the current year, and surplus to the need of the concerned department, according to the authority stipulated in the aforementioned instructions. above.
2. Excluding profitable, self-financed oil companies from work, from the decision of the Committee for the Restructuring of Public State-Owned Companies No. (1 of 2024), provided that the Ministry of Interior is responsible for the integrity of the procedures, the formation of opening committees, the analysis of bids, and the preparation of estimated costs for the subject of the research decision
A vote was also taken to stop the exceptions granted to the Ministry of Electricity pursuant to Council of Ministers Resolution (24049 of 2024), and any text that conflicts with this decision shall not be implemented.
The Council of Ministers reviewed the financial data tables for the state’s account, based on the provisions of the amended Federal Financial Management Law (6 of 2019).
The Council also reviewed the annual report for the year 2023 of the Iraq Assets Recovery Fund, based on the provisions of Article (7) of the amended Iraq Assets Recovery Law (9 of 2012) .LINK
More News, Rumors and Opinions Tuesday PM 5-14-2024
R. Kiyosaki warns US dollar to crash as ‘BRICS gold crypto’ emerges Ana Zirojevic May 13, 2024
Amid warnings of a major financial crash, famous investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, has shared his views on why the United States dollar, in particular, might suffer as a new currency threatens its global domination.
Specifically, Kiyosaki was visiting South Africa, “watching and listening to rumors of what will happen when BRICS nations, Brazil, Russia, India, China, South Africa produce BRICS crypto, possibly backed by gold,” as he told his followers in an X post published on May 12.
R. Kiyosaki warns US dollar to crash as ‘BRICS gold crypto’ emerges
Ana Zirojevic May 13, 2024
Amid warnings of a major financial crash, famous investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, has shared his views on why the United States dollar, in particular, might suffer as a new currency threatens its global domination.
Specifically, Kiyosaki was visiting South Africa, “watching and listening to rumors of what will happen when BRICS nations, Brazil, Russia, India, China, South Africa produce BRICS crypto, possibly backed by gold,” as he told his followers in an X post published on May 12.
Hyperinflation on horizon
Indeed, according to the renowned finance educator, if the rumors are true, this would mean a loss of value to the US dollar and a hyperinflation in the US, and he recommended investing money in alternative assets instead, including gold, silver, and Bitcoin (BTC) to protect oneself against this crash:
“If BRICS gold crypto happens, trillions in fake money, fiat US dollars will come rushing back to home to America causing hyperinflation in America, ultimately destroying US dollar. Best buy real gold, silver, and Bitcoin now, and protect yourself from the crash of US dollar.”
As a reminder, Kiyosaki has lately intensified his doomsday warnings, stressing the crash has already started, signaling the end of the US dollar, and that the dire situation is only worsening “because our debt keeps going up,” with the dollar’s demise the primary reason to accumulate the above assets.
More recently, he said that most people were living in “Disneyland” instead of preparing for the crisis using a strategy he considers the best – starting their own business, using debt as money to buy cash-flowing assets like rental properties, and saving gold, silver, and the maiden cryptocurrency.
Robert Kiyosaki and Bitcoin
Interestingly, the ‘Rich Dad Poor Dad’ author has also admitted to being a latecomer to the crypto industry and not knowing much about the flagship decentralized finance (DeFi) asset, but he has been a fan nonetheless, including Bitcoin in most of his recommendations.
On top of that, he has agreed with the founder and CEO of ARK Invest, Cathie Wood, and her extremely bullish prediction that Bitcoin price in USD could hit $2.3 million. For now, Bitcoin is trading at $61,639, gaining 1.55% on the day, but declining 4.57% in the past week, and losing 8.58% on its monthly chart.
Source: Finbold
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Article: "Floating the dinar" returns to the forefront.. Will the Central Bank of Iraq resort to it and what are its risks?" Floating the dinar, oh my goodness, they are talking to the Iraqi citizens about the monetary reform...Floating the dinar is what they're going to do...
Mnt Goat ...the US Treasury needs to recognize that Iraq still has tremendous value in the dinar as the country sits right now with its oil revenues and out paces Kuwait in all aspects of its economy and so why is Kuwait 1 KWD = $3.40 USD? ...the IQD is being intentionally suppressed now after 20 years already and that is at the heart of the problem Iraq now faces. In reality they are more than ready and the Dr Shabibi attempt in 2012 tells it all...
Deflation As Economy Comes To A Halt | Michael Pento
Liberty and Finance: 5-13-2024
Disinflation is coming, says portfolio manager Michael Pento and even a short period of deflation is likely.
Amid the economy coming to a halt, the Fed will have no other option than to inflate the currency supply.
At that point, stagflation will become the new normal, he says. And stagflation - high inflation with a weak economy - has proven to be the ideal environment for gold.
INTERVIEW TIMELINE:
0:00 Intro
1:20 Japan's economy
10:00 Dedollarization
18:21 What's the Fed's real goal?