Evening News with Zester and MarkZ May 20th 2024

Evening News with Zester May 20th 2024

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

Evening news update with a call in from the OriginalmarkZ

Member: Gooood evening Mark, Zester, and fellow Patriots

Zester We will do some news and a short update from pops

MZ: Whats running around right now – and I think there is some truth to it ….With the upheaval in iraqn…I am hearing suddenly Iran is on the table for the revaluation.

MZ: So the Iranian  rial looks like it’s going to be in the first basket.

MZ: Most of what I am getting is that rates should be resettled on Wednesday. But I don’t know what that means for us timing wise.

MZ: This actually makes sense to me because of where the sources  are from and their connections .

MZ: in Iraq they are not releasing the specifics of the 2024 budget that they approved and announced yesterday.  I want to know if there is a rate in there.

Member: Thanks Mark and Zester for all the encouragement.

Member: Praying this is our golden week

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=SLfOTG0Ie6g

More News, Rumors and Opinions Monday PM 5-20-2024

KTFA:

Clare: The Iraq Fund for Development approves steps to localize industries and attract foreign investments

5/20/2024

Today, Monday, Prime Minister Muhammad Shiaa Al-Sudani chaired the third meeting of the Board of Directors of the Iraq Fund for Development, in the presence of the Minister of Finance, and the Ministers of Planning, Construction, Housing, Municipalities, and Public Works.

The meeting discussed, according to a statement by Al-Sudani’s office, a copy of which {Al-Furat News} received, “in the projects placed on the Fund’s work plan, the introduction of foreign investments into the Iraqi economy, and within the course of work of the Fund’s projects and targeting the localization of various industries in Iraq, requests submitted by private sector entities were discussed for the purpose of Construction of school buildings, as requests exceeded what was offered for the project in its first phase.”

He added, "The meeting also discussed a project to establish a factory for manufacturing passenger buses, in partnership with one of the specialized international companies, and also discussed a request to establish a factory for electronic tablet computers and use them in schools within the educational and pedagogical process."

The statement indicated that "the meeting discussed the issue of partnerships with American, British and Saudi companies in the fields of modern irrigation technologies and the use of technology in this context, as well as in the field of liquefying industrial gases and lighting roads and bridges."

The meeting also witnessed setting dates for launching the “Rent and Own” project, for the purpose of contributing to developing practical and economic solutions to the housing crisis. LINK

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Clare:  Planning discusses with the World Bank ways to enhance cooperation and finance the Development Road Project

5/20/2024

Today, Monday, the Ministry of Planning held a meeting with representatives of the World Bank to enhance cooperation and activate partnership in various fields, including the emergency loan and finding financing for the development road project.

The Ministry of Planning stated in a statement, “The meeting, which was chaired by the Undersecretary for Technical Affairs, Maher Hammad Johan, witnessed a discussion of the restructuring of the Social Fund for Development loan and the mechanism for extending it, as well as a discussion of government reform paths, priorities, and government directions in this regard, which included a number of axes, including economic and financial reform, “Restructuring the banking sector and reforming institutions in general.”

She added: “The meeting also discussed the axes of the five-year national development plan for the years (2024-2028), focusing on a number of its main axes and the mechanism of cooperation and coordination with the World Bank in order to work on them to achieve comprehensive and equitable growth, as well as working to intensify efforts to improve performance.” Activating partnership in various fields, while continuing to provide support to the Iraqi government.”

The meeting also included discussing possible options for restructuring for the purpose of providing financing for the Development Road Project due to its importance to the Iraqi government and achieving its development goals, and working to find joint financing for it.

The meeting was attended by the Regional Director for the Middle East at the World Bank, Jean-Christophe, the Regional Director for Equitable Growth, Finance and Institutions for the Middle East and North Africa at the World Bank, Nader Muhammad and their accompanying delegation, the Director General of the Financial and Economic Policies Department, Sabah Jundi Mansour, and a number of employees of the relevant departments in the Ministry. LINK

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

Militia Man  The budget doesn't work at 1300 to 1 or 1310 or even 1320.  It's doesn't work at 1160 for crying out loud let alone 1460.  Why is it going to work today?  It's not.

Pimpy   Article: "Floating the Iraqi dinar.  A solution to fill a 'gap' whose volatile price against the dollar"  If the Iraq dinar floats and for whatever reason a lot of people start investing into the currency and it drives the exchange rate up, if it gets anywhere near $0.25 and higher for me, I'm out of there!  Seriously, I will sell my currency...The cool thing about this is there's no talk about a redenomination.  So are they actually going to float this currency with the zeros on there and take the risk that sucker is going to jump up really high in the exchange rate?  ...Keep an eye on that sucker, watch the exchange rate, if it gets anywhere near where you want to sell it, then jump all over it.  I wouldn't procrastinate or gamble with it.

BRICS to Open a Central Bank Iraqs Relationship to BRICS Exchange Rate Up

Edu Matrix:  5-20-2024

BRICS to Open a Central Bank Iraq's Relationship to BRICS Exchange Rate Up

There is no doubt BRICS would like for a country like Iraq to join.

Iraq is not only US dollars rich, but also oil rich. A BRICS Central Bank changes the global line-up.

https://www.youtube.com/watch?v=5zI7BSOGUK0

We Have A BIG Problem. MARKET RISK IS RISING. Will The Fed Take Action? IMPORTANT UPDATES.

Greg Mannarino:  5-20-2024

https://www.youtube.com/watch?v=qizAl1luNAw

Goldilocks' Comments and Global Economic News Monday Evening 5-20-24

Goldilocks' Comments and Global Economic News Monday Evening 5-20-24

Good Evening Dinar Recaps,

"Geopolitical Tensions Continue to Shape Global Trade"

The BRICS Nations is and will continue to grow. The next economy will be determined by the price of gold, and not, the dollar. Many countries are leaving the dollar and trading in their own local currencies. To join the BRICS Nations, you have to own gold to support your country's currency. And then, you can be trading partners inside the BRICS Nations.

Saudi Arabia is expected to join this time around. They are expected to join in August of 2024. This shift from the Petro dollar to a Petro Yuan is expected to be a significant shift in monetary flow. It will create a more balanced set of demands on local currencies in a way we have not seen in a long time.

These new demands are forming because of geopolitical tensions, but we would have eventually had to move this direction anyway. A Fiat monetary system just simply is not meant to last forever. We have been in a transitional economy since we moved off of the gold standard in 1973 under President Richard Nixon.

For the last 4 years, new alliances have been formed on the sea and on the land that will determine new trading routes and trading partners. These new bilateral agreements between countries will form new trading relationships and new demands on our local currencies.

This will shift our economies forming new business models that will determine prices on goods and services through supply and demand. Each country will be backed by gold and other commodities to level the playing field and opportunities going forward.

This is never been a 'push of the button' reset moment. Rather, it has been a gradual evolution into a new way of life determined by an inner desire by each country to experience a level of freedom through conscious choices that bring forth what is best in all of us.

It is a movement of the body, mind, and soul to restore a separation that was never meant to occur. As we return to our natural habitat, our lives will be forever changed by an event that calls on what is highest in us to live in the world as it is.

The G20 will meet late this year to discuss and work on countries that still need attention in the Global South. The focus of this meeting is to level the playing field in the Emerging Markets. No one is left behind on this global transition. Every effort is being made to include every country in the world on this new digital asset-based trading system.   CSIS   BIS   AP News

WATCH THE WATER.

© Goldilocks

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The Bank of London launches GenAI assistant to aid enterprise API integration | Verdict

The Bank of London has launched an AI code assistant, and it is moving into mainstream banking. GenAI collects and interprets financial data on a large scale.

It helps banking managers make decisions for clients determining a good path forward for their money. It establishes portfolios designed to meet each customer's unique needs. And, it detects fraud and suspicious activities on people's accounts along with many other services.  

These products generated through an AI code goes into an Application Programming Interface (API). 

APIs are used to create an open structure that allows interaction between a bank's core services and third-party developers.

This allows banking services such as payments, identity verification, and data sharing to function.

© Goldilocks

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Implementation Status & Results Iraq - Iraq: Banking Sector Reform  

READ Pdf HERE

P1133370ISR0Di012201101318434831701.pdf

Mr. Ali Mohsen Al-Alaq recently met with the World Bank to discuss the next steps in the restructuring of Iraqi Banks into the new digital economy.

They have completed Phase 1 of their restructuring process, and now, they're moving into Phase 2. Phase 2 is the implementation stage of the Riyada Bank project.

Currently, the Central Bank of Iraq is licensing a number of digital banks.

© Goldilocks

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Real-time Analytics News for the Week Ending May 18 | RTinsights

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 Food for Others- Inspiring.MP4

 WATCH & LISTEN HERE

This is how life is supposed to be just so everyone knows..

Lots of love, lots of selfless giving that goes all the way around until it becomes a free energy engine of love. 

👆  Goldilocks pointed to this article

👆 a project idea...

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World Bank becomes first international issuer of digital Swiss franc bonds | Global Capital

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Ripple’s Global Payment Initiative in Collaboration with US Faster Payments Council | CoinPedia

According to the report, Ripple is positioning global payments as a top priority, aiming to revolutionize the industry. The survey, conducted in partnership with the FPC, delves into current and future adoption trends of blockchain payment systems, shedding light on the present scenario and what lies ahead.

Ripple’s CEO, Brad Garlinghouse, emphasizes, “[Blockchain will drive] faster payments between businesses, reducing settlement windows, and ensuring close-to-real-time payments for all bookings.”

Quoting from the report, Ripple emphasizes the real value that blockchain in payments unlocks. An impressive 77% of respondents believe that using blockchain for payments is either “Very Beneficial” or “Somewhat Beneficial” for their organizations’ end customers. Additionally, over 60% share the same sentiment regarding customers using cryptocurrency for payments.

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New Era of Inclusive Digital Payments Unveiled by NPCI |  Smartphone Magazine

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Keep your eyes on Digital Ledger Technology. Once this is regulated, instant payments become possible. (T+0 instant settlements) This will effect prices on tokenized assets and stablecoins.

This year, the movement of money itself will create a higher demand in the faster payment sectors of our Market. These new demands create price pressures.

© Goldilocks

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IBC to Ethereum: Building the interconnected Internet of Blockchains | CryptoSlate

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From the Goldilocks Q&A room

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What Is Apple Doing in AI? Summaries, Cloud and On-Device LLMs, OpenAI Deal - Bloomberg

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$1800 Stimulus Checks 2024 for Everyone: USD 1,800 Payment Status & Know Eligibility | Paymentweek

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Analyze This! Foreign Currency Liberalization | IMF Videos

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Stellar Network Adds Smart Contract Capabilities Bolstered by Extensive Onramp Network - The Defiant

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Goodbye to charging cars forever: the diamond battery that lasts 28,000 years and has an incalculable |  ECO News

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KRG shares first list of Know Your Customer (KYC) data with the Trade Bank of Iraq (TBI) | Search4Dinar

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Thank you Dinar Recaps

Iraqi Dinar Today Video Updates Monday Afternoon 5-20-24

Iraqi Dinar Today Video Updates Monday Afternoon 5-20-24

Great News came Out From the WTO & IMF – 3:45

Massive News ,JP Morgan, Chase Bank Iraqi dinar$4.42 USD And Vietnam Dong $2.90 – 3:49

WOW Vietnam Dong Final Value$3.88 US Dollar Fully RV – 3:50

WOW , Its, Massive Exchange Rate Fixed At $4.25 Finally Done – 4:31

Great News came Out From the WTO & IMF – 3:45

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

Massive News ,JP Morgan, Chase Bank Every Iraqi dinar$4.42 USD And Vietnam Dong $2.90 – 3:49

https://www.youtube.com/watch?v=Y40YZ2SQgLU

WOW Vietnam Dong Final Value$3.88 US Dollar Fully RV -  3:50

https://www.youtube.com/watch?v=80wEbey-CSg

WOW , Its, Massive Exchange Rate Fixed At $4.25 Finally Done – 4:31

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

VND Update: U.S. Trade Upgrade Promises Stronger Exchange Rate

VND Update: U.S. Trade Upgrade Promises Stronger Exchange Rate

On May 18, 2024
By Awake-In-3D

New Market Economy Status Could Transform Economic and Trade Relations

In This Article:

1. Overview of the U.S. Department of Commerce Review

2. Advocates’ Arguments for Vietnam’s Market Economy Status

3. Concerns from U.S. Industries

4. Broader Economic and Geopolitical Implications

The United States is considering a significant economic move for upgrading Vietnam from a non-market economy (NME) to a market economy.

This change seeks to end high anti-dumping and countervailing duties on Vietnamese imports, while boosting Vietnam’s economy and its struggling VND currency exchange rate with the US Dollar.

Overview of the U.S. Department of Commerce Review

The U.S. Department of Commerce is set to complete its review of Vietnam’s economic status by late July 2024.

Currently, Vietnam is among 12 countries designated as NMEs, subjecting its goods to higher duties. Proponents argue that Vietnam has made substantial progress in currency convertibility, labor rights, and openness to foreign investment, qualifying it for an upgrade.

Advocates’ Arguments for Vietnam’s Market Economy Status

Vietnam’s Ministry of Industry and Trade (MOIT) and other proponents highlight several key improvements.

They point to enhanced currency convertibility, improved labor rights, and increased openness to foreign investments.

Major investors such as Samsung, Intel, and Nike have significantly contributed to Vietnam’s economic landscape, demonstrating confidence in its market reforms.

Concerns from U.S. Industries

Opponents, including U.S. steelmakers and agricultural groups like the Southern Shrimp Alliance, express concerns about potential negative impacts on American industries.

They argue that ongoing state intervention and unfair trade practices in Vietnam could harm U.S. businesses.

The decision also faces scrutiny from U.S. domestic politics, particularly in swing states like Pennsylvania, where the impact on local industries is a critical consideration.

Broader Economic and Geopolitical Implications

Changing Vietnam’s status holds broader implications beyond trade.

Economically, it would strengthen the VND and enhance Vietnam’s position in the global market. Geopolitically, it could counterbalance China’s influence in the region, fostering closer U.S.-Vietnam economic relations.

The potential upgrade also reflects Vietnam’s infrastructural and business reforms, offering growth prospects for U.S. firms and increasing foreign direct investment, which rose to $3.5 billion in 2022.

The Bottom Line

The potential upgrade of Vietnam’s economic status by the U.S. Department of Commerce could significantly impact trade relations and strengthen the Vietnamese dong.

The decision, expected by late July 2024, will play a crucial role in shaping the future of U.S.-Vietnam economic and geopolitical dynamics.

Supporting article: Vietnam Briefing MAY 9th 2024

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews
Follow me on Twitter: @Real_AwakeIn3D

https://ai3d.blog/vnd-update-u-s-trade-upgrade-promises-stronger-exchange-rate/

Currency Insider Video Updates Monday AM 5-20-24

Currency Insider Video Updates Monday AM 5-20-24

Iraqi dinar new rate 1 to 1 incredible – 1:43

Iraqi Dinar Showing Highest At $3.87 – 2:43

Iraqi Dinar Worth Of 20 Years Waiting – 2:22

 Iraqi Dinar If Your Waiting For Rate Pay Attention – 2:35

 Iraqi dinar new rate 1 to 1 incredible – 1:43

https://www.youtube.com/watch?v=MYSnR4-uvfE

Iraqi Dinar Showing Highest At $3.87 – 2:43

https://www.youtube.com/watch?v=EtR691evjWU

Iraqi Dinar Worth Of 20 Years Waiting – 2:22

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

Iraqi Dinar If Your Waiting For Rate Pay Attention -  2:35

https://www.youtube.com/watch?v=sTg6cqJDIYI

“Coffee With MarkZ” Monday Morning Chat 5-20-2024

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ  Update- Some highlights by PDK-Not verbatim

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

Member: Well another day!! Good morning everyone!!!

Member: Sure am tired of this “movie

Member: it's not a movie, at this point it's a sitcom

Member: Some have called for RV this week.

Member: What’s the good news today Mark?

Member: big things are expected on Memorial day weekend with 3 day banking holiday.

MZ: Many banking sources  are expecting big things this week. Some expect things as early as today. .Many bankers are upbeat about today and this up coming Memorial day weekend. …. But, There is a lot of smoke out there.

MZ: “Zimbabwe receives invitation to China’s premier global gold showcase” They are one of the only 20 countries that were invited. This shows Zimbabwe’s rise to prominence in the BRICS world and commodities world. .

MZ: New Bank Story: “ From a small town outside a large one- A banker had been doing research for a customer after hearing about it. While doing research he found out about the validity of the currencies and determined his banks was involved in the RV”

​​Member: Im new- what does RV stand for?

MZ: Re-Valuation

Member: CMKX news?

MZ: No new CMKX news. They are ready and waiting.

Member: Bond news Mark? I’m hearing it’s good and moving forward fast..

Member: Mark, a bond guy said that they are anticipating all historic bonds to be paid out by end of May or first week of June

Member: How can Iraq pass their budget without a new rate?

MZ: Remember when they designed their budget –they added a clause in there for a value change…for the budget to adjust for a value change. We are hearing they passed a budget but we are waiting for a few details that are missing. Things that are not released yet. This may be an interesting day on that front.

Member: Was that Sudanis big announcement yesterday.

MZ: I believe that was Sudanis big announcement that they passed the budget.  They have made a lot of agreements…a lot of movement toward Erbil and the HCL.

Member: MM put out and article this morning that the COM (Council of ministers) is sending the schedules to the HOR (House of Representatives) tomorrow

Member: Frank26 has a good overview of yesterday’s events. Go give him a listen.

Member: So is the death of Iraian president yet another excuse for delaying the RV? This rollercoaster is exhausting & disheartening

Member: Sure looks suspicious to me …reminds of of when Khadafi in Libya was killed.

MZ: It could just be an maintenance issue…..But you have to wonder when something like this happens to someone in a that position . Prayers for a smooth transition for the Iranian people. He was a very controversial figure.  

Member: Think about this.... Sometimes people have to be moved out of the way for good things to happen. Iran?

Member: The 1st VP of Iran will be the New President of Iran!! He is a Conservative, so we could see a different Iran!!

Member: My friend in Iran said he did not think there was any foul play, but that he was not a good guy

Member: Maybe white hats are finally doing some clean up?

Member: There are rumors of the federal reserve going away.

MZ: “GOP Lawmaker introduces a bill to abolish the Federal Reserve” This is a oldie but a goldie. . Rep Thomas Massey a republican out of Kentucky intruded this. Many have jumped in to support the bill.  This was first introduced in 1999 by Ron Paul . This to me is great news that it is gaining momentum .

Member: Saw this about an hour ago: Wyoming Strikes Gold: 2.34 Billion Tons Unearthed, Rattles China

Member: I went to a coin show Saturday and met a woman who wanted to buy silver but wasn't sure what to buy. My hubby and I helped her. Found out she knows about the RV, owns several currencies & agrachecks

Member: This roller coaster sucks

Member: Nothing, nothing, nothing, then suddenly something.

Member: Hearing energy has shifted ….this is huge get excited ....it's switched …3d reality will show face soon ….abundance on ur lives is imminent

GUYS! MARK'S BIRTHDAY PODCAST CELEBRATION COMING UP ON FRIDAY MAY 24TH! STAY TUNE!

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

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

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

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

MARK’S TELEGRAM ROOM FOR WORLD NEWS EVENTS & CHAT? LINK: https://t.me/TrollingNews_telegram

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

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

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=ifvoHtnfB8E

How Gold Could RV To $27,374 Against The Fiat Dollar: Awake-In-3D

How Gold Could RV To $27,374 Against The Fiat Dollar

On May 19, 2024   By Awake-In-3D

Understanding the Revaluation of Gold in the Face of Fiat Currency Debt Implosion and Gold-Backing the US Dollar

In This Article:

• Gold’s Path to $27,000

• The Underlying Analysis: Why Gold Could Surge

• Historical Precedents and Lessons

• The Supply and Demand Dynamics

• Doing the Math

The intrinsic value of gold is set to revalue significantly against the fiat currency system, particularly the US Dollar.

As global economic uncertainties rise, gold’s stability offers the only safe haven.

Here’s why one globally recognized financial expert believes that gold would exceed $27,000 per ounce in the near future.

Gold’s Path to $27,000

A rather straight forward and simple analysis now indicates that gold might surpass $27,000.

This forecast isn’t speculative but grounded in historical data and economic models.

While no forecast guarantees certainty, the tools and methodologies applied here have proven accurate across various contexts.

The Underlying Analysis: Why Gold Could Surge

The analysis starts with a crucial question: What’s the implied non-deflationary price of gold under a new gold standard?

Central bankers currently control fiat currencies and have little interest in a gold standard. However, should confidence in fiat currencies collapse due to factors like excessive money creation, Bitcoin competition, or a new financial crisis, a return to gold will become necessary.

Under such a scenario, determining the proper price for gold becomes essential to maintain economic equilibrium.

Historical Precedents and Lessons

Historical events provide valuable lessons. The UK’s return to the gold standard at an unrealistic price in 1925 led to an early entry into the Great Depression.

Conversely, the US devalued the dollar against gold in 1933, spurring commodity price rises and aiding economic recovery.

The key policy goal is to find the “just right” price to balance gold and dollars, something the US is well-positioned to achieve with its substantial gold reserves.

The Supply and Demand Dynamics

The supply side of gold shows a significant decline in new mining output.

Despite rising gold prices, US mine production has decreased by 28% over seven years.

This trend suggests that while output could potentially expand, current conditions support higher prices.

On the demand side, central banks, ETFs, hedge funds, and individual purchases drive demand. Notably, central bank gold demand has surged by 1,000% from 2010 to 2022, with no signs of slowing down in 2024.

This scenario of flat supply and rising demand supports the forecast of higher gold prices.

The Bottom Line

The revaluation of gold against the US Dollar is not just a possibility but a plausible outcome based on rigorous analysis.

As economic conditions fluctuate and confidence in fiat currencies potentially wanes, gold stands to gain significantly.

The recent discussion that BRICS is creating a new currency based on 40% gold-backing, the math for the same gold-backing of the US Dollar.

Doing the math for gold reaching $27,374 per ounce

1. Current M1 Money Supply: The U.S. M1 money supply today is $17.9 trillion.

2. Gold Backing Ratio: Assume a 40% gold backing for the money supply (historical precedent from 1913–1946).

3. Gold Required for 40% Coverage: Calculate 40% of $17.9 trillion, which equals $7.16 trillion.

4. Total U.S. Gold Reserves: The U.S. Treasury holds 261.5 million troy ounces of gold.

5. Implied Gold Price Calculation: Divide the required gold value by the total gold reserves: $7.16 trillion divided by 261.5 million troy ounces equals approximately $27,374 per troy ounce.

Thus, based on these calculations, the implied non-deflationary equilibrium price of gold under a new gold standard could exceed $27,000 per ounce.

Supporting article: https://dailyreckoning.com/27000-gold/

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews
Follow me on Twitter: @Real_AwakeIn3D

https://ai3d.blog/how-gold-could-rv-to-27374-against-the-fiat-dollar/

“Tidbits From TNT” Monday Morning 5-20-2024

TNT:

Tishwash:  The impact of the death of Iranian President Ebrahim Raisi on the Iranian currency

The Iranian currency witnessed a major collapse following the killing of Iranian President Ebrahim Raisi and Foreign Minister Hossein Amir Abdollahian. The currency fell by more than 8 percent as of last night, reflecting the profound impact of political events on the Iranian economy.

On Sunday, as news of the fate of Iranian President Ebrahim Raisi spread after his plane crashed in East Azerbaijan Province, the dollar exchange rate witnessed a noticeable increase against the Iranian riyal in the unofficial market. The price of the dollar rose from the level of 57 thousand riyals per dollar to more than 62 thousand riyals in Monday morning trading.

This increase came after the official death of President Ebrahim Raisi and the Minister of Foreign Affairs was officially confirmed on Monday morning, as their helicopter crashed in the East Azerbaijan region, northern Iran. As a result, the Iranian currency exchange rate reached 60.6 thousand tomans against the US dollar, knowing that the Iranian toman is equal to 10 riyals.

The Iranian rial had witnessed a slight recovery against the dollar after a period of increasing tensions with Israel, as the dollar exchange rate reached about 70 thousand riyals per dollar. With the decline in tensions, the dollar exchange rate began to gradually decline, reaching 57 thousand riyals in parallel market trading on Sunday morning.

It is worth noting that the Iranian government has set an official exchange rate for the dollar at 42,000 rials to one dollar since 2018. However, the rial is suffering from great pressure due to high inflation sparked by the ongoing US sanctions. These sanctions, imposed during the administration of former US President Donald Trump, reduced sales of some of Iran's main exports, especially oil and its products.

This incident comes at a time when the Iranian economy is suffering from major challenges, as political fluctuations make it more difficult to predict the future of the currency and stabilize the economy. This rapid decline in the value of the Iranian rial reflects the fragility of the economic situation and the great pressures that the country faces in light of the sanctions and political turmoil.  link

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Tishwash: Iraq declares one day of public mourning for the death of the Iranian president and his companions

 Today, Monday (May 20, 2024), the official government spokesman, Bassem Al-Awadi, announced a one-day public mourning for the passing of Iranian President Ebrahim Raisi and his companions.

Al-Awadi said in a statement received by “Baghdad Today” that “in standing with the Iranian people and their leadership, in these difficult times, and in solidarity with the feelings of sadness and pain, with the passing of the President of the Islamic Republic of Iran, Ebrahim Raisi, and the Minister of Foreign Affairs, Hossein Amir Abdollahian, and their companions, in the painful incident, the government announced Iraqiya: Public mourning throughout Iraq, for one day, tomorrow, Tuesday.

He added: "We ask God Almighty to inspire the families of the victims and the general Iranian people and their leadership with patience and solace."

On Monday morning, the government and Iranian media sources confirmed the death of Iranian President Ebrahim Raisi and his Foreign Minister Amir Abdullahian in a helicopter crash in the northeast of the country, yesterday evening, Sunday. link

 And here's what they tweeted

The Iraqi government declares one day of general mourning tomorrow, Tuesday, throughout the country for the death of Iranian President Ebrahim Raisi and Foreign Minister Hossein Amir Abdollahian and their entourage.

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Tishwash:  Does "dollar dominance" threaten the global economy?

 In the world of an intertwined economy with multiple competing powers, the dominance of the US dollar remains a pivotal issue that raises many questions, at a time when the dollar plays a major role in the international financial system, as it participates in the majority of international transactions and constitutes a large portion of global reserves, and this situation gives the United States power. tremendous economic and political potential, but it comes with increasing challenges and risks.

With the rise in US interest rates and the strengthening of the dollar, pressures have begun to appear on international transactions that rely heavily on the US currency.

These pressures not only affect emerging markets, but may also lead to radical changes in the global financial system. With increasing talk about alternatives to the dollar by members of the BRICS group, for example, there is renewed debate about the future of the dollar’s ​​dominance and whether it will continue in light of the mounting economic and political challenges.

Sovereign debt

In a related context, Joe Yark, head of the global markets department at Cedra Markets, says that the US dollar represents 58 percent of global reserves, and represents 70 to 80 percent of the volume of global trade, in addition to the pricing of oil and basic commodities in the US dollar, which makes it have an impact. Mainly on the global economy.

Yark points out that the steps taken by the US Federal Reserve, whether tightening or easing monetary policy, of course affect global banks, which is evident with regard to raising interest in recent periods to combat inflation. He explains in this context that:

* The US Federal Reserve is playing a positive role at the present time. It is considered a “tempo officer.”

* The huge US debt and the risks resulting from sovereign debt are the only fear.

* The US Federal Reserve’s decisions due to its excessive debt, and the so-called “global debt bubble” which exceeded $315 trillion, negatively affect the global economy.

* Markets are affected by the Federal Reserve’s decisions to raise interest rates, which hampers the economy in these countries (..), which are forced to pay additional costs to purchase goods.

Dollar dominance

From London, economist Anwar Al-Qassim says, “The dominance of the greenback currently appears more fragile than it seems, given the expected changes in the dollar’s ​​exchange rate system and its eroding international standing in favor of multiple international currencies.”

We are witnessing a clear shift. When most Asian countries follow China, along with countries such as Russia and the BRICS countries, the dollar, which currently represents the base currency for about two-thirds of global GDP, may end up losing approximately half of its value.

During 2023, Russia and China transferred more than 90 percent of trade to the yuan and the ruble, which demonstrates the almost complete elimination of the dollar in economic relations between the two countries.

He added: “China is now considered an economic giant, not only in terms of production and exports, but also in terms of the size of its financial sector, which is currently the largest in the world, with the value of its assets amounting to 60 trillion dollars...while the total American debt to the federal government exceeds 34 trillion dollars.” This is a record number that foretells the upcoming economic challenges and the future of the dollar.

He stresses that while it is not entirely clear that the dollar will be eliminated as the primary means of exchange anytime soon, abolishing “dollarization” has become a strategic option for many countries, led by Moscow and Beijing.  link

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Tishwash:  Washington is delaying its withdrawal from Iraq, and Baghdad is “evading”

Despite the many demands from some political forces and the Islamic resistance in Iraq to remove American forces, the government position is not at the required level regarding this issue.  

Recently, Prime Minister Muhammad Shiaa Al-Sudani visited the United States and met with its President Joe Biden, while it was agreed to transform the relationship from military to economic and commercial based on trade exchange in various fields! . 

Regarding the issue of removing American forces from Iraq, Representative Mahma Khalil said in an interview with “Al-Ma’louma” that “the law to remove foreign forces from Iraqi territory falls on the responsibility of the federal government,” stressing that “the law will work to remove every soldier, trainee, and advisor.” 

Khalil called on "the government to work seriously on this issue and to expedite sending the law regarding the removal of American forces from Iraq to the House of Representatives for the purpose of voting on it." 

*An explicit government position

In the same context, political analyst Sabah Al-Ukaili confirmed that the Iraqi government is not serious about the issue of removing American forces from the country. 

Al-Ugaili told Al-Maalouma: “The political forces and the Iraqi government are not sincere in the issue of removing American forces from Iraq,” indicating “the American forces are not serious about leaving Iraq.”   

He added, "The Iraqi government is evading this file despite the resistance factions' mandate to Prime Minister Muhammad al-Sudani," noting that "if the factions do not sense the seriousness of the Iraqi government in this regard, they will have another position "  

He explained that "the method of the American military forces often violates the autonomy of the Iraqi state, most notably targeting the leaders of the Popular Mobilization Forces and other targets," calling on "the government to take a strict and resolute stance on this issue and to stay away from patchwork solutions and procrastination.”  

For his part, the Chairman of the Parliamentary Security and Defense Committee, Karim Aliwi, confirmed in an interview with Al-Maalouma that “the talks taking place between the Iraqi and American delegations regarding ending the tasks of the international coalition forces are among the committee’s most prominent concerns,” noting that “the government asked the committee to be neutral and monitor those matters.” Dialogues.  link

Mot: Ya Knows!!! -- NOT All Boots are fer Walking!!!!

News, Rumors and Opinions Monday AM 5-20-2024

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 Mon. 20 May 2024

Compiled Mon. 20 May 2024 12:01 am EST by Judy Byington

Global Currency Reset:

“I know someone personally who is bond holder in US going for an appointment on Mon. (20 May 2024).” …God’s Elf on Telegram Sat. 18 May 2024

US Treasury Conference Call on Sun. 19 May 2024: “Everything is on schedule and the US is finishing up last minute paperwork. All tests for the RV have gone great. Stay positive. It’s coming.”… Mena, Liberty Lounger Extraordinaire on Telegram Sun. 19 May 2024

Sat. 18 May 2024 Bank Customer: “I thought it was awesome that starting today, Wells Fargo changed their screensaver to a rainbow hitting the golden light! Sounds pretty telling to me! About to hit that part of gold jackpot in glorious abundance. Blessings.”

Fri. 17 May 2024 MarkZ: “On May 22nd, (This is from the IRS but other government agencies are also doing this….they will be conducting emergency alert tests nationwide to all their employees on text messaging, email and laptop notifications. So they are prepared for May 22nd.

MZ From a member: “Now in one of the top banks here in the country – they are very clued in on currencies. When they found out the amount of the currency they had they said “We need to sit down with you- but we can’t sit down with you until the 22nd. Our key people for wealth management are in training for foreign currencies and exchanges – but we want to sit down with as soon as they back from training.”

MZ: Now this doesn’t mean the RV will happen on the 22nd. But the bank can’t talk to them now even though they want to talk to them….until May 22nd. So- the top wealth management at a big bank with a big wealth management arm-and they get back from foreign currency exchange training on the 22nd –This is a great “tell.”

Global Financial Crisis:

Sun. 19 May 2024: Iranian Stock Market is Crashing.

On Sun. 19 May 2024 Citizens Bank (bought out by HSBC) has cut off some customer’s bank account funds. “Citizens Bank turned off access to our money without warning, saying a new card has been sent out to all users. No letter in the mail, no ability to withdraw funds. Seems suspect to anyone? Especially knowing the $AMC $GME Moass and silver squeeze were popping off this week. Citizens was a subsidiary of the Royal Bank of Scotland. In 2021 Citizens bought HSBC East Coast operations. HSBC is directly tied to Dominion. T Edit: We’ve been warning you. Expect far more of this. This week should be very interesting! https://twitter.com/TraderGirlQ/status/1792221317791445308?t=5tRg1Z86tlQy8rRdTz7Bjw&s=19

Read full post here:  https://dinarchronicles.com/2024/05/20/restored-republic-via-a-gcr-update-as-of-may-20-2024/

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

Deepwoodz  The parallel market rate is an illegal, “black market” rate. This is the rate they have been trying to get rid of and we all know how they can easily get rid of it, and that’s by adding value to their national currency. A value that is much higher than the dollars they have used for 20 years. I believe the way they are doing this is kind of like building all the financial infrastructure FIRST, that when all else is done, will be able to support the worlds most valuable currency rate. They are doing it right. Not just flipping a switch. That very last part of the cake, is the icing. The best for last.

Bruce   [WiserNow]  We know that...Iraq paid back the IMF – a loan that they got in 2003...that's when the new 25 10,000 5000 1000 dinar notes were printed.  Our notes that we have now are printed starting in 2003.  And they paid the IMF back at $8 billion against a loan Iraq  received in 2003... Now, to do that, you had to have a revalued dinar...to make that doable...the rates are actually on the ATM’s in Baghdad in airports and other places. So have they converted over to I think the new rate in country – yes... they're keeping it hidden until they're ready for everything to be released.  

Post-NESARA: Price vs Inflation Part 2

Dr. Scott Young:  5-19-2024

How does Inflation affect price?

Will we see "1950s" pricing again?

What is the difference between Soft Costs (services) vs Hard Costs (COGS)?

How do businesses affect pricing for both Services vs COGS? How will Insurances reduce pricing? How will housing be reduced in pricing?

Will Student Loans come down along with universities?

What will Consumer Confidence do to pricing along with what the EBS will do to the Corruption?

Part 1:  https://www.youtube.com/watch?v=CvyAVGcAF5k

https://www.youtube.com/watch?v=xVp6F9DpCe0

Floating The Currency Between Economic Benefit And Disadvantages

An Unruly Policy Or A Necessary Need? .. Floating The Currency Between Economic Benefit And Disadvantages

Money  and business  Economy News – Baghdad   The stability of the Iraqi dinar has always faced major challenges in recent years, as it has witnessed price fluctuations, not to mention a gap between what the central bank determines and what is sold in the parallel market.

In order to avoid the “volatility” syndrome and the “gap” in the price of the Iraqi dinar against foreign currencies, some experts believe that the solution lies in a kind of “surgical” operation for the country’s monetary system that may be painful, but it achieves long-term monetary stability for the national currency through... "float".

The cash selling price, according to the Central Bank, is 1,305 dinars per dollar, while the price for transfers abroad is 1,310 dinars per dollar, and the price in the parallel market is about 1,450 dinars per dollar in mid-May, according to local media, while it reached levels of 1,600 dinars per dollar in previous periods.

For months, the Iraqi authorities have been imposing restrictions in their efforts to control exchange rates, restricting all commercial transactions within the country to the Iraqi dinar, and establishing a new mechanism that subjects external transfers to greater scrutiny.

Iraqi economic analysts who spoke to Al-Hurra website, some of them warned against taking a decision that would lead to floating the dinar, while some of them believe that a moderate policy could be taken that suits the Iraqi economy, based on “floating” and “stabilization” at the same time.

Is The Flotation Policy Compatible With The Iraqi Economy?

The specificity of the Iraqi economy is not proportional to the floating of the exchange rate. Archive

Advisor to the Prime Minister for Financial Affairs, Mazhar Salih, believes that floating the currency price does not suit the Iraqi economy, especially since it is a "rentier economy, dominated by foreign currency reserves."

He explains in statements to the “Al-Hurra” website that “the economic vision that wants to float the Iraqi dinar to end the gap between the official price and the parallel price may be possible in an economy in which the free market alone influences the movement of the balance of payments, and not in an economy in which the rentier government sector is dominant and generates reserves.” Foreign currency".

He added, "The monetary authority in Iraq alone is the main source of supply of foreign currency that meets the desired demand for foreign exchange in the local market."

Saleh believes that the demands for flotation inevitably mean “adopting the prevailing exchange rate in the parallel market, in order to achieve the goal of stability and balance in the official exchange rate itself at a new exchange point that the market will reach at the end of the assumed flotation policy and return to stability again.”

The flotation scenario also means “the withdrawal of the monetary authority as the main central offerer of foreign currency, and its replacement by new forces of free market makers, which certainly have only a weak, limited supply of foreign exchange,” according to Saleh.

He points out that these forces carry “an uncontrolled package of inflationary expectations, and are called in the economic literature (the forces generating inflationary expectations), which will give dominance to the supply forces of speculators” who own limited amounts of foreign exchange, matched by “an open demand for foreign currency from The market side" exceeds what is offered by "at least more than ten times in our estimate."

Chancellor Saleh described this policy as “unruly,” as as long as “the central government supply of foreign currency will be absent from the market, we will not obtain any equilibrium point in the exchange rate that flotation seeks except with a widespread deterioration of the exchange rate as long as it is carried out by forces generating inflationary expectations in a severe rentier economy.” "unilateralism."

He warns that if the exchange rate moves in “a market that is incomplete, in terms of productivity, in its compensation for the required supply of goods and services,” no one “will know how much the new exchange rate resulting from the flotation will be,” which will be accompanied by “a prior wave of inflationary expectations,” the trends of which are difficult to control. , which may push monetary policy makers to “intervene with excessive foreign reserves and unjustified extravagance in foreign exchange to impose a state of stability.”

According to the World Bank, Iraq has 145 billion barrels of proven oil reserves, which are among the largest crude oil reserves in the world.

But Iraq hopes that the country's oil reserves will exceed 160 billion barrels, according to what the Minister of Oil, Hayyan Abdul Ghani, recently announced.

What If The Iraqi Dinar Was Floated?

The claims that have appeared every now and then for years calling for floating the exchange rate of the Iraqi dinar are “strange,” and most of them are made by people who are “not specialized in economics or monetary policy,” according to what Professor of International Economic Relations, Abdul Rahman al-Mashhadani, confirms to the Al-Hurra website.

He asserts in a decisive tone, "Iraq cannot proceed with floating the dinar's exchange rate. The evidence for this is all the agreements concluded with the International Monetary Fund since 2004, and the reviews praised the stabilization of the exchange rate by the Central Bank of Iraq."

Al-Mashhadani added that there was a study by experts at the World Bank during the past years that recommended “raising the exchange rate,” noting that even then, “these recommendations cannot be taken into account because the World Bank is concerned with what is related to economic development, but following up on the recommendations for monetary policies is taken into account if It was from the International Monetary Fund.

In its latest review on Thursday, the International Monetary Fund praised the efforts of the Central Bank of Iraq to tighten monetary policy and strengthen its liquidity management framework.

He explains that “the real gap is in the wheel of production in the Iraqi economy, as the majority of goods are imported from abroad, which means that the flotation will cause a spiral in price rates to become significantly high and affect the marginalized classes,” indicating that such a decision cannot be taken “as a matter of politics.” “Cash” only, as we must “consider the burdens it will impose on citizens.”

Al-Mashhadani confirms that what has been applied in other Arab countries does not “mean that it can be applied to the Iraqi economy,” suggesting that “the exchange rate will become at the levels of 5,000 dinars to the dollar,” as “the Central Bank has lost control over exchange rates, leaving them to float.”

There is a fear that “floating” will cause “social” problems, as “salaries will erode significantly,” which may threaten “new classes to slide into poverty,” while “a class of merchants, politicians, and businessmen will benefit, who will benefit from the state of instability that will result from... This matter".

Al-Mashhadani agrees that floating in the end means “that the parallel market will control exchange rates,” but it will not achieve “the desired monetary stability,” as the central bank will then need to “print more local currency to keep up with demand in the markets,” and the government will need to increase salaries and allocations for aid packages. Social.

"Float With Controls" For Full "Editing".

The economic expert, Manar Al-Obaidi, recommends following a “currency float” policy, but with controls such that a “managed float policy is used to gradually liberalize the currency until complete liberalization of the exchange rate is reached.”

He said in a post on his Facebook account, "Such a policy could be a successful alternative in Iraq by following a managed float policy where the central bank controls the range of volatility and works to gradually increase it until the currency is completely liberalized."

Al-Obaidi gave the example of “the managed flotation policy followed by Morocco in 2018,” noting that it was accompanied by the abolition of customs tariffs on basic materials and “supporting funds for vulnerable classes,” stressing that this experience can be used to influence “inflation.”

Reasons For The Exchange Rate “Gap”.

A New Procedure For The Iraqi Dinar

The Iraqi government advisor, Saleh, attributes the reason and existence of a “gap” in the dinar’s exchange rates against the dollar between the official and parallel markets to “external factors imposed by the compliance platform and auditing administrative restrictions on external transfer movements, which is not related to the deficit in the authority’s monetary reserves,” noting that the reserve Iraq's foreign currency is considered the highest in the country's history, as it touches the levels of import coverage for 16 months, compared to the global standard, which does not exceed three months of import coverage.

Financial transfers in dollars through official channels have increased significantly in Iraq, while Iraq continues its reforms of the financial sector in line with international standards, according to a previous report by Agence France-Presse.

In late 2022, the Iraqi banking sector adopted the SWIFT electronic transfer system with the aim of providing better control over the use of the dollar, ensuring compliance with US sanctions on Tehran, and also in order to limit the prosperity of the informal economy.

The financial standards that were adopted encouraged the emergence of a parallel market for currencies, attracting those seeking to obtain dollars outside official channels.

Saleh pointed out that there is a distortion in support for the prices of some commodities “on the part of financial policy, which is support in which the rich and poor mostly enjoy it equally without discrimination, and it represents an added, imperceptible real income, and it is the product of a financial policy inherited from the consumer welfare state for the rentier resource.”

He continued, "It is inconceivable until this moment that 90 percent of Iraq's population is receiving food support provided by the state as an extension of the economic blockade phase of the nineties in light of the changing standards of living and lifestyle, the increasing number of affluent people, and the growth of the middle class."

In mid-May, the Iraqi authorities announced the purchase of 1.5 million tons of wheat since the beginning of the year.

According to the Ministry of Agriculture, Iraq, with a population exceeding 43 million people, needs between 4.5 million and five million tons of wheat annually.

The International Monetary Fund said Thursday that Iraq's internal imbalances have been exacerbated by significant fiscal expansion and low oil prices.

The Fund added that Iraq needs to gradually correct public financial conditions in Iraq to achieve debt stability in the medium term and rebuild financial reserves.

To ensure compliance with US standards regarding money laundering and sanctions on Iran, about 20 Iraqi banks were prevented from making dollar transfers.

Last September, the Iraqi government decided that merchants who deal with Iran are forced to turn to the parallel market to obtain currency, given that Tehran is subject to sanctions and “is not allowed to conduct financial transfers,” according to Agence France-Presse.

A Positive Step For The "Economy" But!!

The Iraqi economic academic, Nabil Al-Marsoumi, believes that the solution to addressing the discrepancy in the currency exchange rate through “free floating of the Iraqi dinar” may have “some economic positives.”

He added in an interview with Al-Hurra website that "the economy should not be taken in its abstract aspect, but rather in terms of its relationship to people, especially the poor among them."

Al-Marsoumi warns that "the Iraqi dinar may witness a violent collapse and rampant inflation that will cause prices in the Iraqi market to rise to record levels that will harm citizens, especially the low-income classes."

He explains that Iraq lacks "a national private sector that could contribute to increasing the supply of dollars in the local market, and because of the large volume of imports, which reach 67 billion dollars annually, the government is the only party that owns the dollar."

He notes that "if the government decides not to intervene in the exchange market, we are expected to witness consequences that will cause severe damage to citizens' living standards, making the poor even more miserable, and may lead to social tensions and a major rift in the social peace."

For his part, the economic expert Al-Obaidi defined the primary goal of liberalizing the currency as “creating an economy capable of withstanding various economic shocks, and reducing reliance on reserves that are greatly depleted in order to maintain a fixed exchange rate, which could stop once the reserves run out.” .

He added that this also "contributes to supporting the domestic product and changing the consumption pattern, and thus reducing the import bill for Iraq, which rises annually as an indirect reason as a result of the attempt to maintain a fixed exchange rate."

Not to mention, “continuing to try to maintain a fixed exchange rate depletes reserves,” which will lead at a certain stage, “accompanied by a decrease in reserves, followed by either a complete liberalization of the currency or a significant reduction in the price rate, which will have major repercussions on the citizen, and will cause great confusion in "A market that already suffers from a lack of economic stability."

What Is The Alternative To Floating The Currency?

The Iraqi Dinar Lost 25 Percent Of Its Value In Previous Periods

The Iraqi economic expert, Mahmoud Dagher, confirms to Al-Hurra website that the solution for Iraq may be a system “between floating and stabilization” to help stabilize currency exchange rates.

The expert, Dagher, a former official at the Central Bank of Iraq, explains that “the origin of the exchange system is floating, which is what free countries adopt.”

He explains that "the continuity of the gap requires reaching a middle system that solves the problem between free floating and stabilization. This is a system that many developing countries follow, and it helps solve the problems of currency fluctuation."

Financial expert Saleh proposes alternatives to floating, in a way that serves the objectives of monetary policy and limits inflationary risks, through the use of financial tools such as “taxes and customs duties that act as an intermediary to influence the exchange rate to achieve balance and price stability.”

He added, "Instead of resorting to lowering the exchange rate to harmonize the market through flotation, it would be through amending customs tariff schedules and imposing careful, thoughtful controls to protect the national economy."

Saleh called for correcting the defect in the structure of the Iraqi economy as a whole, as it is not possible to continue with “high operating spending in annual public budgets, which has always generated cash income from rentier sources that are matched only by very limited productivity of commodity and service flows, which has made the country It relies mainly on large-scale imported consumer goods.”

Counselor Saleh revealed, on Thursday, that the loans provided by the International Monetary Fund to Iraq since 2003 totaled no more than $8 billion, confirming that they had been repaid in full, according to a report published by the “INA” agency.

Last March, the International Monetary Fund stressed “the Iraqi economy’s need for broad structural measures to enhance private sector development and economic diversification, and to raise growth rates in the non-oil sector in a sustainable manner to accommodate the rapidly increasing workforce, and to increase non-oil exports and government revenues, in addition to Reducing the economy's exposure to oil price shocks.

He called for "accelerating the pace of reforms in the financial sector to improve access to financing, by modernizing the banking sector and supporting the ability of banks to establish banking relationships with other banks, and taking steps aimed at merging small-sized private banks," not to mention the need "to restructure the two largest government banks." ".

The Governor of the Central Bank, Ali Al-Alaq, announced in statements in early May 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,” according to the “ Inaa ” agency.

He continued, "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, according to financial control, which requires reducing spending or increasing domestic revenues, or both."

Iraq has begun to recover relatively after years of wars, occupation, and sectarian violence that followed the US-led invasion in 2003, according to an Agence France-Presse report.

242 views   05/19/2024 - https://economy-news.net/content.php?id=43544

Provoking Thoughts and Points to Ponder on Advice :

Don't fight forces; use them.  - Buckminster Fuller

Drink nothing without seeing it; sign nothing without reading it.  - Spanish proverb

What is important is to keep learning, to enjoy challenge, and to tolerate ambiguity. In the end there are no certain answers.  - Marina Horner

Simplicity, simplicity, simplicity. I say, let your affairs be as two or three, and not a hundred or a thousand; instead of a million count half a dozen, and keep your accounts on your thumbnail.  - Henry David Thoreau

You must not think, sir, to catch old birds with chaff.  - Cervantes

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

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