Warren Buffett Said That He Could End America's Deficit Problem 'In Five Minutes'
Warren Buffett Said That He Could End America's Deficit Problem 'In Five Minutes' — here's what he would do
Vishesh Raisinghani Sat, Jul 6, 2024
There’s growing concern about a looming debt crisis in America. High-profile financial figures such as Bridgewater’s Ray Dalio and JP Morgan’s CEO Jamie Dimon have shared their concerns about the record U.S. national debt in recent months.
However, legendary investor Warren Buffett proposed a solution to the nation’s borrowing issue more than a decade ago.
"I could end the deficit in five minutes,” he told CNBC’s Becky Quick in a 2011 interview. “You just pass a law that says that any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.”
Warren Buffett Said That He Could End America's Deficit Problem 'In Five Minutes' — here's what he would do
Vishesh Raisinghani Sat, Jul 6, 2024
There’s growing concern about a looming debt crisis in America. High-profile financial figures such as Bridgewater’s Ray Dalio and JP Morgan’s CEO Jamie Dimon have shared their concerns about the record U.S. national debt in recent months.
However, legendary investor Warren Buffett proposed a solution to the nation’s borrowing issue more than a decade ago.
"I could end the deficit in five minutes,” he told CNBC’s Becky Quick in a 2011 interview. “You just pass a law that says that any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.”
The Oracle of Omaha believes this simple solution could solve one of America’s more stubborn issues.
Incentives dictate actions?
Buffett’s longtime business partner the late-Charlie Munger once said, "Show me the incentive, and I will show you the outcome." It’s a philosophy that guides the business decisions and compensation plans across Berkshire Hathaway.
This is probably why Buffett believes a deterrent for the American government and lawmakers could shift the way they spend tax dollars. If lawmakers see their re-elections at risk, they may be more careful about government deficit spending.
This isn’t an unusual idea. Germany has a hard cap on deficit spending which has compelled successive governments to reign in spending over the years.
However, there is no hard cap on America’s deficit. As of May, the federal government has spent $1.2 trillion more than it has collected in fiscal year 2024. In the first quarter of 2024, federal debt as a percent of GDP was 97.3%.
This large debt burden and the lack of spending restraint is causing some economists and investors to worry about a potential debt crisis.
How can ordinary investors protect their wealth if the government is left with no choice but to keep printing more money to pay off the debt and drives inflation and interest rates higher? Wharton Professor Kent Smetters spoke to Business Insider about assets that can be used to hedge against a possible economic downturn in such a scenario. His advice is buying assets that the government would be last in line to default on.
Treasury Inflation-Protected Securities (TIPS)
U.S. treasury bonds are generally considered a low-risk investment because lending money to the U.S. government has been a reliable bet for centuries. However, bond investors are still subject to wealth erosion through inflation — which could spike in a debt crisis. Professor Smetters recommends Treasury Inflation-Protected Securities that offer the safe and stable return of a bond with downside protection.
To Read More: https://finance.yahoo.com/news/warren-buffett-said-could-end-113400320.html
Sunday AM News, Rumors and Opinions 7-7-2024
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 Sun. 7 July 2024
Compiled Sun. 7 July 2024 12:01 am EST by Judy Byington,
Global Currency Reset: (Opinions/Rumors)
Guesses of a Possible Timeline for RV, forward from JR. on Telegram
We are supposed to have RV before NESARA was officially released to public to get accounts set up in the month of July.
Almost all RV GURUS and Intel have all stated we should only take 10 days to go through all the currency holders before lockdowns (since they are going to be open 24/7 for 10 days) More redemption centers in higher populated areas. Our email confirmations an Ph #s have been given to 5 + websites.
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 Sun. 7 July 2024
Compiled Sun. 7 July 2024 12:01 am EST by Judy Byington,
Global Currency Reset: (Opinions/Rumors)
Guesses of a Possible Timeline for RV, forward from JR. on Telegram
We are supposed to have RV before NESARA was officially released to public to get accounts set up in the month of July.
Almost all RV GURUS and Intel have all stated we should only take 10 days to go through all the currency holders before lockdowns (since they are going to be open 24/7 for 10 days) More redemption centers in higher populated areas. Our email confirmations an Ph #s have been given to 5 + websites.
All Intel states were going to have 3 to 10 day lockdown of the internet to reveal to the masses. This is when they announce at the END of that announcement.
They have new QFS accounts that they will have to go in. To get there Quantum account set up at the closest bank or redemption centre in their area.
EMAILS have to come in from now up to no later than Tuesday June 9th to get into the Redemption Centers before the lockdowns.
JULY 20th to start lockdowns for 10 days to get QFS an MED-BEDS released to the world at the very end of this MONTH
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Judy Note: What we think we know as of Sun. 7 July 2024:
There will be an Internet Blackout.
The White Hat Military is in control of the redemption process, which has released funds across the World for the Global Currency Reset.
All banks have signed Non Disclosure Agreements.
The funds come directly from the US Treasury Department of Defense Operations – that go out to Treasury Departments in other countries.
Japan has revalued their currency.
Bond Holders have begun to be paid in Brazil.
Notifications have gone out to Tier 4a, a small group of Tier4b and some Bond Holders.
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Sat. 6 July 2024 Wolverine. “It has started. It is a process hopefully completed by the 20th. I’m hoping to get the Green Light in a few days.”
Fri. 5 July 2024 Banker: “Well folks it’s not like we haven’t heard this before but, I just got off a call from Hong Kong, London, NYC, Reno, and me. They are indicating that certain bond holder groups are having funds disbursed to paymasters over this weekend and that we as currency holders should remain vigilante for notifications this coming week. An FYI only as banker has not suggested same.
Sat. 6 July 2024: Bombshell Report! This is your Financial Bible | This is the Quantum Financial System Manual of GESARA-NESARA & XRP! – American Media Group (amg-news.com)
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Global Financial Crisis:
Sat. 6 July 2024 This is absolutely insane: Annual US government spending reached a MASSIVE $6.5 trillion in May, just $1.1 trillion below the March 2021 record. The government total outlays have DOUBLED in just a decade. To put this into perspective, this is more than the size of most world economies except the US and China. Meanwhile, the US budget deficit hit $1.7 trillion, or 6.2% of GDP over the last 12 months. In the past, such levels of spending have only occurred during major crises. What’s the long-term plan here?
Sat. 6 July 2024: 90% of all trade between China and Russia is conducted in Ruble or Yuan after ditching the US Dollar.
Read full post here: https://dinarchronicles.com/2024/07/07/restored-republic-via-a-gcr-update-as-of-july-7-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Key players are ready to get this thing done. It's a very good sign. I honestly believe we're watching history in the making...We're seeing progress like no other...If you're paying attention I think you guys should be really pumped and excited that things are happening.
Sandy Ingram If the Iraqi dinar revalued next week are you ready? ...Understanding this one fact, you will do just fine. The wealthy never never ever spend their bases or the foundation of their wealth. In your case this would be the profits from your Iraqi dinars...Wealthy people invest their initial profits. The first person they hire is a financial advisor. The second...is a tax professional...to make sure Uncle Sam doesn't get large sums of their money. If you do anything else you are in the fast lane to going broke.
Why Iraq Has Two Exchange Rates
Edu Matrix: 7-7-2024
Update Why Iraq Has Two Exchange Rates… Gold Prices IQD VND Rates—Iraq's two exchange rates affect the country's economic progress. This video shares how and why this is important.
Hidden Crisis: Lynette Zang Reveals The Truth About Fintech And Banking Collapse
The Market Sniper: 7-6-2024
“Tidbits From TNT” Sunday Morning 7-7-2024
TNT:
Tishwash: Oil and gas law...the unsolvable knot
The oil and gas law is considered one of the sensitive laws in the Iraqi state, as it is one of the axes of the ongoing conflict between the central and regional governments over oil imports.
The center of the dispute over the law is that the region wants to control oil imports in its lands according to its mood without the control of the federal government, while the political forces do not want to grant this privilege to the region because it gives it a kind of separatist independence, so to speak.
Since the first session of the Iraqi Council of Representatives, in 2005, the draft oil and gas law has been stuck in drawers, as disagreements prevent its approval in its final form.
After 18 years, he announced the formation of a committee to draft the law and present it to the government and the House of Representatives.
TNT:
Tishwash: Oil and gas law...the unsolvable knot
The oil and gas law is considered one of the sensitive laws in the Iraqi state, as it is one of the axes of the ongoing conflict between the central and regional governments over oil imports.
The center of the dispute over the law is that the region wants to control oil imports in its lands according to its mood without the control of the federal government, while the political forces do not want to grant this privilege to the region because it gives it a kind of separatist independence, so to speak.
Since the first session of the Iraqi Council of Representatives, in 2005, the draft oil and gas law has been stuck in drawers, as disagreements prevent its approval in its final form.
After 18 years, he announced the formation of a committee to draft the law and present it to the government and the House of Representatives.
The committee that was formed between Baghdad and Kurdistan to draft a draft law for oil and gas includes the Minister of Oil, the Minister of Natural Resources in the region, the Director General of SOMO, and the advanced staff in the Ministry of Oil, as well as the oil-producing governorates such as Basra, Dhi Qar, Maysan, and Kirkuk.
Iraq exports an average of 3.3 million barrels of crude oil per day, and black gold constitutes more than 90 percent of the Iraqi treasury's resources.
Article 14 relates to oil revenues in the Kurdistan region and their audit by the Federal Oversight Office
The draft Iraqi oil and gas law regulates this vital sector for Iraq and the management of the country's oil fields through one national company, with imports being deposited in one account.
The financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, confirmed in statements that accelerating the adoption of the federal oil and gas project law in the House of Representatives as quickly as possible will establish a stable national road map for investment and production of the country's primary sovereign resource, which is oil and gas.
He explained that "this natural resource contributes directly to Iraq's gross domestic product at a direct rate of approximately 50 percent, and leaves an indirect impact on the total economic activity of our country at a rate of no less than 85 percent."
Saleh said, "Adopting a unified national oil policy, and achieving optimal investment and production in Iraq's oil region, starting from the southern fields up to the northern and regional fields, is an important and strategic matter in the matter of taking advantage of opportunity costs in the optimal and harmonious operation of Iraqi oil policy currently."
The draft oil and gas law in Iraq available to Parliament stipulates that responsibility for managing the country's oil fields must be entrusted to a national oil company, and supervised by a federal council specialized in this subject.
For its part, the Kurdistan Oil Law indicates that the Iraqi government has the right to participate in the management of fields discovered before 2005, but the fields discovered afterward belong to the regional government.
In 2022, the Federal Court in Baghdad ordered the region to deliver the oil produced on its lands to Baghdad, and to cancel contracts that the region had signed with foreign companies. The matter went so far as to invalidate the Baghdad judiciary's contracts with many foreign companies, especially American and Canadian companies.
After years of exporting oil alone via Turkey, the Kurdistan region must adhere, as of late 2023, to the decision of an international arbitration body that gave Baghdad the right to fully manage Kurdistan's oil.
As a result, exports from the region stopped. A temporary agreement signed between Baghdad and Erbil stipulates that Kurdistan oil sales will be made through the Iraqi Oil Marketing Company “SOMO,” while revenues generated from the region’s fields will be deposited in a bank account with the Central Bank of Iraq or one of the banks approved by the Central Bank of Iraq.
A member of the Parliamentary Oil and Gas Committee, MP Durgham al-Maliki, revealed that the coordination framework and the state administration coalition discussed the oil and gas law with Masoud Barzani.
Al-Maliki told Al-Maalouma Agency, “The committee discussed the draft law in a professional manner and completed most of its paragraphs, but the government requested its withdrawal to make amendments to it, indicating that the law is still in the government's possession.”
He promised, "The approval of the annual budgets was disrupted due to oil disputes between the center and the region, indicating that approving the law has become an urgent necessity because of its ability to resolve 90% of the disputes between the region and the center."
He stressed, "The enactment of the law is governed by political agreement, not professional agreement," calling on "political forces to put pressure on the government to send the law for the purpose of legislating it." link
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CandyKisses: Member: Iraq ranks 61st in the world in the scale of the safest countries
Baghdad - Mawazine News
Iraq ranked 61st in the world out of 100 listed countries and the seventh safest Arab in the world for the current year 2024.
ACCORDING TO A RATING FROM CEOWORLD MAGAZINE.
Seed by Mawazine News, the safest countries by taking into account different dimensions, these dimensions include safety from violent crime, safety from terrorism, safety of transport, health measures (including diseases), and safety for specific groups such as women; foreign travelers, migrants, expatriates, foreign travelers and migrants.
In 2024, Andorra, located in the Pyrenees mountains between Spain and France, was chosen as the safest country in the world, and despite being one of the smallest and least populated countries in Europe, with a population of only about 82,000 people, it attracts more than 3.5 million visitors from abroad annually, making it the country with the largest number of tourists per capita with points with 97.68 points, followed by the UAE with 97.13 points, followed by the Green Land located in the Americas with 96.98 points, followed by Liechtenstein in Europe with 96.97 points.
Of the 188 countries around the world, Iraq ranked 61st globally, with points of about 82 points out of 100 points.
The index put 5 Arab countries in the safest countries category, Iraq came in seventh place after: the UAE, Saudi Arabia, Bahrain, Kuwait, Jordan, Qatar.
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Tishwash: Parliamentary Finance: Oil companies’ dues added to budget tables, government coordination to resume exports
The Parliamentary Finance Committee confirmed the continuation of coordination and communication between the federal government and the Kurdistan Region to resume oil exports through the Turkish port of Ceyhan.
The Vice-Chairman of the Committee, Ikhlas Al-Dulaimi, stated in a statement to the National Iraqi News Agency / NINA /, that "the general budget tables approved by the Council of Representatives are the ones adopted by the government, thus canceling any financial texts and paragraphs mentioned outside it," and pointed out that there are allocations for the costs of oil production and transportation worth 3 trillion and 800 billion dinars, which were added to the general budget tables.
She added, "If an agreement is reached between the federal government and the region to resume oil exports, the federal Ministry of Finance and the Ministry of Oil and Natural Resources in the region will proceed to coordinate to find a mechanism to disburse those amounts and pay the dues of oil companies."
She explained, "The oil companies operating in the Kurdistan Region, the region requests 6 months' amounts and there are contracts signed between the two parties that are difficult to cancel, because they are giant foreign companies that will resort to the judiciary and sue the region and the federal government." link
Mot: .. I Mean Some Peoples
Mot: . They Say !!!!--- Sure Hoping Soooooooooooooooon!!!!
More News, Rumors and Opinions Saturday PM
Ariel: Iraqi Dinar News: From WTO Website:
During the visit to Baghdad, the Chair was informed that Iraq’s initial market access offers on goods and services would be circulated soon, in preparation for holding the 3rd meeting of the Working Party in the middle of 2024.
Link https://v2.xscodes.icu/english/news_e/news24_e/acc_16jan24_e.htm
The team in the Ministry of Trade will “take real steps that will shorten the path to Iraq’s accession to the World Trade Organization and ultimately benefit from the advantages offered by this accession,” indicated Minister Al Ghurairi.
Ariel: Iraqi Dinar News:
From WTO Website:
During the visit to Baghdad, the Chair was informed that Iraq’s initial market access offers on goods and services would be circulated soon, in preparation for holding the 3rd meeting of the Working Party in the middle of 2024.
Link https://v2.xscodes.icu/english/news_e/news24_e/acc_16jan24_e.htm
The team in the Ministry of Trade will “take real steps that will shorten the path to Iraq’s accession to the World Trade Organization and ultimately benefit from the advantages offered by this accession,” indicated Minister Al Ghurairi.
Ariel Cont……..Parliamentary Committee to Al-Eqtisad News: The Oil and Gas Law is Almost Complete, and This is What We Hope for from Barzani’s Visit to Baghdad
7/4/2024 Baghdad
Member of the Parliamentary Oil and Gas Committee, Zainab Al-Moussawi, revealed today, Thursday, the latest developments in the Oil and Gas Law, while pointing to the impact of Masoud Barzani’s visit to Baghdad on the approval of the law.
Al-Moussawi said in an interview with Al-Eqtisad News: “So far, the draft oil and gas law is almost complete, with a high percentage that may reach 90%, but there are some objections from the Kurds regarding some points, which are summarized in handing over oil imports and exploited and unexploited natural resources to Baghdad, as Erbil refuses to do so.”
She added: “We hope that Masoud Barzani’s visit will be the beginning of resolving the crisis of the law and its legislation after an agreement with the political foundations in Baghdad, which is the Coordination Framework, 𝙖𝙨 𝙖𝙡𝙡 𝙥𝙤𝙡𝙞𝙩𝙞𝙘𝙖𝙡 𝙗𝙡𝙤𝙘𝙨 𝙖𝙧𝙚 𝙢𝙤𝙫𝙞𝙣𝙜 𝙩𝙤𝙬𝙖𝙧𝙙𝙨 𝙡𝙚𝙜𝙞𝙨𝙡𝙖𝙩𝙞𝙣𝙜 𝙩𝙝𝙚 𝙤𝙞𝙡 𝙖𝙣𝙙 𝙜𝙖𝙨 𝙡𝙖𝙬 𝙩𝙝𝙖𝙩 𝙧𝙚𝙜𝙪𝙡𝙖𝙩𝙚𝙨 𝙩𝙝𝙚 𝙘𝙤𝙪𝙣𝙩𝙧𝙮’𝙨 𝙣𝙖𝙩𝙪𝙧𝙖𝙡 𝙧𝙚𝙨𝙤𝙪𝙧𝙘𝙚𝙨”.
The member of the Parliamentary Oil Committee explained that “the Oil and Gas Law contributes to exploiting the largest possible amount of undiscovered oil fields and also contributes to achieving self-sufficiency in petroleum derivatives and optimal exploitation of wasted natural resources estimated at hundreds of billions of dollars that contribute to diversifying the state’s financial resources.”
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People, do you know how extremely huge these two reports are? This is the best news anyone can ask for that is not referring directly to rate & date while still indirectly giving you at least one of them without being specific. We are so close. Because in the second report regarding the Oil & Gas this is the constitutional rights of the citizens to get a percentage of the oil revenues once it is passed. Do you know how long people have waited to hear this is about to be complete?
This means that the new exchange rate is even closer. Because I have already given you a report about Iraq’s Compliant with international standards that needs to be completed by July 12th.
Report: -Derivative Clearing Organizations DCOs must comply by July 12, 2024. (See Federal Register link below)
The completion of these swap dealer compliance issues in the Forex Market comes at a time when Iraq has just completed their requirements on phase one of their economic reforms.
Phase one is a completion of reforms that have now qualified Iraq for international trade.
Ariel @Prolotario1
https://dinarchronicles.com/2024/07/05/ariel-prolotario1-new-exchange-rate-for-iraq-by-july-12th/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Key players are ready to get this thing done. It's a very good sign. I honestly believe we're watching history in the making...We're seeing progress like no other...If you're paying attention I think you guys should be really pumped and excited that things are happening.
Walkingstick [Iraqi bank friend Aki update] The CBI board of directors decided...to hold meeting with only all of their executives of all their banks...These two or three meeting are going on... This is on the subject of the monetary reform, lower notes, exchange rate, budget ... These next few days are going to be very silent. The press will not cover
it. No one will know anything about it. They will suppress this information...This silence is normal and to be expected right now. [Aki] has seen this quietness before when the CBI was getting ready to make a major move.
A 53 Year Old PATTERN Has Been BROKEN...
Lynette Zang: 7-6-2024
Today we are talking about a 52 year old pattern that has been broken and what that really means for the markets and your money...
The Global Economy Is Collapsing As the WORST Case Scenario Unfolds
Atlantis Report: 7-6-2024
The global economy, which was once stable and growing, is now facing serious challenges. Recently, troubling signs have been reported from different parts of the world, indicating problems for the international financial system.
Traditional signs of economic trouble, such as the strong U.S. dollar and decreasing interest rates, are now more evident than ever.
These worrying signs, combined with geopolitical tensions, trade disputes, and increasing debt levels, indicate that the global economy is in trouble. The worst-case scenario is happening right now.
Iraq Economic News and Points To Ponder Saturday Afternoon 7-6-24
How Much Is Iraq's Loan From The IMF?
Money and business Economy News – Baghdad The financial advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Saturday, that zeroing out the debts to the International Monetary Fund reflects Iraq's high and solid creditworthiness, while indicating that Iraq is in the process of paying off long-term development loans to the World Bank.
Saleh told the Iraqi News Agency (INA): "Iraq has entered into about 5 programs with the International Monetary Fund since 2004 until the end of 2018, including 3 credit readiness programs, and all of them were characterized by providing loans whose function is to support the state of stability and economic reform in Iraq in two directions.
The first: loan programs, as Iraq received loans from the International Monetary Fund to help it overcome economic crises, as these loans included supporting the general budget and financing economic stability programs, especially during the war on ISIS terrorism."
How Much Is Iraq's Loan From The IMF?
Money and business Economy News – Baghdad The financial advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Saturday, that zeroing out the debts to the International Monetary Fund reflects Iraq's high and solid creditworthiness, while indicating that Iraq is in the process of paying off long-term development loans to the World Bank.
Saleh told the Iraqi News Agency (INA): "Iraq has entered into about 5 programs with the International Monetary Fund since 2004 until the end of 2018, including 3 credit readiness programs, and all of them were characterized by providing loans whose function is to support the state of stability and economic reform in Iraq in two directions.
The first: loan programs, as Iraq received loans from the International Monetary Fund to help it overcome economic crises, as these loans included supporting the general budget and financing economic stability programs, especially during the war on ISIS terrorism."
He added: "As for the other trend: in the field of economic reforms, the International Monetary Fund usually requires countries that receive loans to implement certain economic reforms. In the case of Iraq, these reforms included improving the management of public finances and the banking sector, enhancing transparency, combating corruption, and reforming the energy sector."
He pointed out that "these loans did not exceed $5 billion per loan, and the actual withdrawal from them would not exceed $3 billion or more in each case, and according to a repayment program that takes place every 6 months with grace periods of two years before repayment with a moderate annual interest, which usually does not exceed 4.5%, and the terms of these loans do not exceed five years."
He pointed out that "Iraq has paid off the loans that were withdrawn during the last twenty years according to regular payment mechanisms and are close to zeroing out, unless they are all zeroed out today, which reflects the high and solid creditworthiness of the Republic of Iraq in repayment before the international financial community in particular and towards multilateral international financial organizations in general."
He continued: "But certainly there are long-term development loans from the World Bank that are still in place, which is another development financial organization, and amount to a few billion and are in the process of being repaid, and some of them are still in the process of being committed to being withdrawn to be spent on completing development projects contracted with the World Bank, and they are also long-term soft loans."
He stressed that "cooperation relations continue between Iraq and the International Monetary Fund in various fields, including providing technical advice and supporting economic policies," noting that "the relationship between Iraq, the International Monetary Fund and the World Bank is important for achieving economic stability and sustainable development in the country."
He pointed out that "Iraq has been a founding member of the International Monetary Fund and the World Bank since 1945."208 views 07/06/2024 - https://economy-news.net/content.php?id=44933
The Iraqi Private Sector And Improving The Investment Environment In The National Development Plan 2024-2028
Samir Al-Nusairi During the past three months, the Ministry of Planning and the specialized work teams have made efforts to prepare and prepare the National Development Plan 2024-2028, the draft of which addressed in detail the main challenges facing the Iraqi private sector and the main objectives aimed at achieving its effective contribution to improving the investment environment.
While I agree with what is stated in the plan, we emphasize the need to add the basic pillars stated in the private sector development strategy.
For the years 2014-2030, and in particular its three time periods, its four pillars, its four pillars, what has been achieved since its launch in 2014, and what has not been achieved.
It is also necessary to state what has been achieved from Iraq’s Vision 2030, which clearly outlined the path to achieving a “strong and developing private sector.”
In addition to determining what has been achieved during the implementation of previous national development plans and the economic, financial and banking reform strategy included in the government program of the current government and what is the real role through which the private sector should contribute with government participation and support in managing the overall economy.
This requires providing a legislative environment and a stable business environment and focusing on the axes that aim to build sound preliminaries for the transition to a complete economic reform.
This is what we all agree on, but this requires the government and the private sector in all its banking, industrial, agricultural, energy, health, construction, tourism and service sectors to participate and cooperate in implementing the transitional, medium and long-term economic reform strategy.
This means involving the private sector in a greater role in economic decision-making and leading the market institutionally and legislatively through the following:
1- Contributing with the government to improving the business environment in Iraq and providing an encouraging investment climate to attract national and foreign capital in accordance with the government’s program and encouraging and stimulating the achievement of partnerships between the public and private sectors in financing and developing development projects that have achieved implementation rates.
Good and its allocations are included in the general budgets of 2024 and 2025
2- Contributing with the government to creating a new legislative environment based on Article (25) of the Permanent Constitution, the strategies and laws related to economic reform, the private sector development strategy, its pillars and specific contents, in a way that ensures its activation and leadership of the market in the future.
3- Maintaining and activating the partnership, dialogue and cooperation between the private sector and the government by taking rapid measures to activate the Private Sector Development Council and start its work under the chairmanship of the Prime Minister, enacting a special law for it and forming a joint advisory council from the government and private sectors linked to the council that includes experts from the various economic sectors nominated by the council members and provides its advice and works according to a special system approved by the council.
4- Contributing with the government in developing policies, mechanisms and strategies and participating in following up on their implementation to resolve the transition to time-programmed stages to a market economy.
5- Working with the government to provide additional sources of funding for the state’s general budget by adopting the development and diversification of resources towards raising the percentage of resources other than oil in the gross domestic product, by activating the real economy and diversifying sources of national income.
6- Work to encourage the establishment and development of small, medium and micro enterprises in order to achieve comprehensive and sustainable development, including the formation of specialized institutions for this purpose and issuing a special law to develop and advance these projects and determine their economic feasibility and benefit from the Riyada initiative launched by the Prime Minister and the National Lending Strategy launched by the Central Bank on 5/25/2024.
7- Cooperation in financing and ensuring the implementation of central plans to provide infrastructure to encourage and develop the private sector in industry, trade, agriculture, tourism, health, energy, construction, strengthening and services.
8- Activating the role of specialized banks and private banks to provide soft loans to the national private sector, as well as finding solutions to the problems of taxes and accumulated interest incurred by owners of projects that have stopped production, and setting a short- and medium-term financial policy.
9- Coordination and cooperation with the relevant ministries and financial and statistical institutions, especially the Ministries of Planning and Finance, in building a financial and statistical information base and ensuring its transparency.241 views 07/06/2024 -https://economy-news.net/content.php?id=44929
Oil Prices Head For Fourth Week Of Gains
Saturday 06 July 2024 08:25 | Economic Number of readings: 212 Baghdad / NINA / Oil prices did not change much in Asian trading on Friday evening, but they are heading towards achieving gains for the fourth week in a row and remain near their highest levels since late April, thanks to hopes for strong fuel demand during the summer and some concerns about supplies.
By 01:43 GMT, Brent crude futures, which have risen 7% over the past four weeks, fell two cents to $ 87.41 a barrel.
While US West Texas Intermediate crude futures, which have risen 9% over the past four weeks, rose to $ 83.97, up nine cents from Wednesday's settlement. The US market was closed on Thursday for the Independence Day holiday, according to Reuters.
Oil has risen this week on expectations of increased demand during the summer in the United States, the world's largest oil consumer.
Analysts at ANZ Research said in a note on Friday that "market sentiment has been supported this week by signs of increased transportation and escalating geopolitical tensions in the Middle East."
The US Energy Information Administration reported a massive 12.2 million barrel draw in inventories last week, compared with analysts’ expectations for a draw of 700,000 barrels.
As for supplies, Reuters reported that Russian oil producers Rosneft and Lukoil will sharply reduce oil exports from the Black Sea port of Novorossiysk in July.
Meanwhile, Saudi Aramco cut the price of its key Arab Light crude for Asia in August by $1.80 a barrel above the average Oman/Dubai prices./https://ninanews.com/Website/News/Details?key=1139882
Record Number Of Dollar Sales By The Central Bank In A Week
Economy | 06/07/2024 Baghdad - Mawazine News The Central Bank's sales achieved a record number in terms of selling the US dollar during the past week.
The Central Bank sold during the past week, which witnessed five days of auction, a total amount of 1 billion, 374 million, 986 thousand, and 732 dollars, with a daily average of 274 million, 997 thousand, and 346 dollars.
These numbers represent a significant increase compared to the previous week, when sales amounted to 1 billion, 105 million, 258 thousand, and 154 dollars.
https://www.mawazin.net/Details.aspx?jimare=250858
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
Provoking Thoughts and Points To Ponder On Adversity:
The human race has had long experience and a fine tradition in surviving adversity. But we now face a task for which we have little experience, the task of surviving prosperity. - Alan Gregg
Adversity reveals genius, prosperity conceals it. - Horace
The virtue of prosperity is temperance; the virtue of adversity is fortitude. - Francis Bacon
In the day of prosperity be joyful, but in the day of adversity consider. - Bible
In victory even the cowardly like to boast, while in adverse times even the brave are discredited. - Sallust
Adversity is sometimes hard upon a man; but for one man who can stand prosperity, there are a hundred that will stand adversity. - Thomas Carlyle
http://famousquotesandauthors.com/topics/adversity_quotes.html
Seeds of Wisdom RV and Economics Updates Saturday Evening 7-6-24
Good Evening Dinar Recaps,
WHAT CAN RLUSD STABLECOIN DO THAT XRP CANT DO?
"Ripple President Monica Long explains the dual role the forthcoming RLUSD stablecoin could play alongside XRP for developers and payment utilities."
1. Some customers will prefer to transact in USD, so the stablecoin is the better method. 2. Sometimes a bridge asset is unnecessary. 3. XRP is a neutral crypto FOR USE as a BRIDGE ASSET. 4. XRP can move more than just currency, RLUSD only moves US dollars.
Good Evening Dinar Recaps,
WHAT CAN RLUSD STABLECOIN DO THAT XRP CANT DO?
"Ripple President Monica Long explains the dual role the forthcoming RLUSD stablecoin could play alongside XRP for developers and payment utilities."
1. Some customers will prefer to transact in USD, so the stablecoin is the better method.
2. Sometimes a bridge asset is unnecessary.
3. XRP is a neutral crypto FOR USE as a BRIDGE ASSET.
4. XRP can move more than just currency, RLUSD only moves US dollars.
"Ripple sees XRP as essential for efficient cross-currency or cross-token settlements, particularly for long-tail assets and currencies. Long cited instances with the sub-Saharan African region, Europe, and the Middle East where costs can be very high amid insufficient liquidity. In these scenarios, fees can exceed 10% of the payment, making XRP crucial for the transactions."
© Newshounds News™
Read more The Crypto Basis
~~~~~~~~~
DONALD TRUMP STATES HE WILL BECOME THE FIRST CRYPTO PRESIDENT
"At a campaign fundraising event in June, former president Donald Trump styled himself as something that would have seemed unlikely not long ago. He said he would be the crypto president," tech executive Trevor Traina, who attended the fundraiser, told Reuters that month."
"By May, he declared that the US should be the industry's global leader in the space."
"The numbers back the point. According to a May report from Public Citizen, the cryptocurrency sector is becoming a titan of political funding that's hard to ignore."
"About half of young voters surveyed by Grayscale said they will consider a candidate's crypto position before voting."
DONALD TRUMP'S STANCE ON CRYPTO SHOULD GET THE ATTENTION OF THE US SENATE WHO HAS YET TO PASS A CRYPTO BILL
© Newshounds News™
Read more: Business Insider
~~~~~~~~~
"Which Banks Are Using Ripple?
Ripple’s network of banking partners has continued to grow as the blockchain expands its global reach and influence. Moreover, the number of potential partners is expected to increase as Ripple Labs tries to move forward from its lengthy legal battle with the U.S. Securities and Exchange Commission (SEC)."
"The following banks are confirmed to have been working with Ripple:
*Santander (USA)
*Canadian Imperial Bank of Commerce (Canada)
*Kotak Mahindra Bank (India)
*Itaú Unibanco (Brazil)
*IndusInd (India)
*InstaReM (Singapore)
*BeeTech (Brazil)
*Zip Remit (Canada)
*LianLian (China)
*RAKBANK (U.A.E.)
*IFX (U.K.)
*TransferGo (U.K.)
*Currencies Direct (U.K.)
*Airwallex (Australia)
*SEB (Sweden)
*SBI Remit (Japan)
*Siam Commercial Bank (Thailand)
*Krungsri (Thailand)
On the flipside Ripple may be a faster and more affordable blockchain network than Bitcoin and Ethereum, but it is outclassed by modern networks like Solana (SOL) regarding speed and efficiency."
© Newshounds News™
Read more: Daily Coin
~~~~~~~~~
VIETNAM INTRODUCES MANDATORY FACIAL RECOGNITION FOR DIGITAL PAYMENTS THAT EXCEED APPROXIMATELY $390
This will be an issue for many US citizens going into the digital age as privacy concerns accompany KYC/AML (know your customer/ anti-money laundering) laws.
"Authorities in Vietnam have introduced a facial recognition requirement for all digital payments of 10 million dong (about $390) or more made in the country. The measure, which has already raised questions about privacy and security, requires all money transfers made through banks or e-wallets to involve face scanning on smartphones via banking applications. According to the State Bank of Vietnam, the obligation aims to “ensure the security of online and bank card payments.”
Newshounds News will be keeping an eye on these new laws and will report on their advancement.
© Newshounds News™
Read more: Agenzia Nova
~~~~~~~~~
BASEL COMMITTEE UPDATE REGARDING CRYPTO RULES FOR BANKS
"The committee is unveiling the standards later in July, culminating a years-long process."
"The Basel Committee met on July 2-3 and made policy decisions on issues that included disclosure of banks’ crypto exposure. A disclosure framework for banks’ crypto assets was proposed in December 2022 and opened for comments in May 2023.
"Updated standards will be published later in July, according to a Bank for International Settlements (BIS) statement."
This article is dated July 3, 2024, up-to-date news regarding BIS and BASEL 3 @ Newshounds News™
Read more: Coin Telegraph
~~~~~~~~~
Venezuela’s Digital Asset Remittances Hit Yearly $460 Million
"Venezuelans have recorded an increased amount of remittances with crypto numbers surging in the last one year."
HIGHLIGHTS
*"Venezuela recorded $5.4 billion in remittances last year."
*"Out of this number, over $460 million were crypto transactions."
*"Global adoption of crypto assets continues to soar with more use cases."
"Venezuelan citizens have recorded a surging number of cryptocurrency remittances with figures above $460 million in the last 12 months. Generally, remittances in the country have grown due to harsh economic conditions that led to huge numbers of migrants. The figure shows a growth in crypto adoption in the last year in Latin America and other jurisdictions."
"Venezuelans Embrace Crypto Remittances"
"Venezuelans have increased their crypto usage for transactions as general figures have spiked in the last year. According to data from the Inter-American Dialogue, Venezuelans remitted about $5.4 billion contributing 6% to the gross domestic product. To put growth in perspective, the figure is almost a 75% surge from 2021. "
"Crypto remittances were up to $461 million, totaling 9% of numbers per Chainalysis data. Manuel Orozco, director of Migration, Remittances, and Development at the Inter-American Dialogue noted that while the figures are high, a large number of migrants cannot afford to send remittances. “The number of Venezuelan migrants that are sending remittances has jumped 50-60%. It’s not a higher percentage because the rest of the migrants cannot yet afford to send money.”"
"Venezuelan remittances spiked after the country faced an economic crisis leading to migration with about 30% of households receiving money from foreign countries. In the last 10 years, over 7 million Venezuelans have left the country sending money back home through digital methods. While traditional remittance methods appear slower and more expensive, crypto assets provide an easier route. However, crypto users back home face certain regulations on some digital asset exchanges with many calling on pro-industry laws."
Globally, Crypto usage has soared. Traditional means of remittances have huge rates attached, while crypto is a much faster and cheaper way to send remittances.
@ Newshound News™
Read more: CoinGape
~~~~~~~~~
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Thank you Dinar Recaps
Economist’s “News and Views” Saturday 7-6-2024
28 Countries Joining BRICS: What Next?
Fastepo: 7-5-2024
According to a Russian newspaper, Izvestia, 28 countries have expressed interest in joining BRICS, either as full members or partners.
This information was confirmed by representatives from one of the association's countries during the BRICS Foreign Ministerial Council in Nizhny in Russia. The list includes countries from different continents including Palestine.
However, Palestine, which is not yet fully recognized internationally, has expressed interest in joining as an observer state or partner.
Please note that the timing of this expansion has not yet been confirmed. Some sources, such as the Russian Prime Minister, have mentioned that it will be discussed during the BRICS summit in 2024.
28 Countries Joining BRICS: What Next?
Fastepo: 7-5-2024
According to a Russian newspaper, Izvestia, 28 countries have expressed interest in joining BRICS, either as full members or partners.
This information was confirmed by representatives from one of the association's countries during the BRICS Foreign Ministerial Council in Nizhny in Russia. The list includes countries from different continents including Palestine.
However, Palestine, which is not yet fully recognized internationally, has expressed interest in joining as an observer state or partner.
Please note that the timing of this expansion has not yet been confirmed. Some sources, such as the Russian Prime Minister, have mentioned that it will be discussed during the BRICS summit in 2024.
However, other sources believe that it will be further discussed next year. Regardless of the timing, it is important to discuss this expansion in more detail.
This video will detail all 28 countries interested in joining BRICS and analyze their potential contributions, including how their membership could expand BRICS' influence and economic clout globally.
The analysis will consider the economic, political, and strategic implications of this expansion, providing insights into how BRICS could evolve in the coming years.
Argentina Faces Reality: Renews RMB Currency Lifeline, Expands China Trade For Economic Survival
Sean Foo: 7-6-2024
While Milei preaches dollarization, his economic moves is actually drawing Argentina closer and closer to China. Not only did he secure a vital currency lifeline, he is expanding trade with China with more agricultural exports. Here's why Milei did a dramatic U-turn towards Beijing!
Timestamps & Chapters:
0:00 Milei's U-Turn On China
2:51 Scrambling For Currency Lifeline
6:00 Argentina Needs More China Trade
9:17 China's Latin American Strategy
11:39 Milei Needs Chinese Investments
Bullion Bulletin - JULY 5, 2024
Miles Franklin: 7-5-2024
Bullion Bulletin is a compilation of videos from Andy's week of interviews. In this compilation, you'll find a variety of engaging and informative content featuring expert analysis and discussions.
Jim Rickards: If They Pull This Plug Right Now, There Will be a Reckoning Upon Us
Daniela Cambone: 7-5-2024
“The problem now is if you pull the plug, it will be chaos,” warns Jim Rickards, New York Times bestselling author. In an exclusive interview with Daniela Cambone,
Rickards also states that the U.S. is caught in a financial war, with the U.S. dollar being threatened by BRICS nations and their new currency. Even though the U.S. dollar will remain the world’s reserve currency, the BRICS currency could become a successful trading currency.
“That’s how confidence is lost in the United States, slowly at first and then suddenly. So we're not at the 'suddenly' stage yet, but we're getting really close.”
Watch the powerful interview to learn more about Rickards' thoughts.
Weekend News with MarkZ 7-6-2024
Weekend News with MarkZ
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Mod: THE CBD GURUS KICK OFF THE FIRST 45 MINS AND MARK GIVES THE NEWS AT 10:30 AM.
Member: Wow- We are at another weekend again…..something good needs to happen soon
Member: Hopefully we will get some RV news, even if it can’t be confirmed, we as your listeners understand sometimes it can’t be confirm but we would like to know we here it might be!!!
MZ: I keep getting loaded up on the Rumor side …There is a lot going on and they are saying that we hit the banks sometime around July 12th. We will see what is accurate as we get closer…but my goodness, the enthusiasm from the banking side and the group side is nuts.
Weekend News with MarkZ
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Mod: THE CBD GURUS KICK OFF THE FIRST 45 MINS AND MARK GIVES THE NEWS AT 10:30 AM.
Member: Wow- We are at another weekend again…..something good needs to happen soon
Member: Hopefully we will get some RV news, even if it can’t be confirmed, we as your listeners understand sometimes it can’t be confirm but we would like to know we here it might be!!!
MZ: I keep getting loaded up on the Rumor side …There is a lot going on and they are saying that we hit the banks sometime around July 12th. We will see what is accurate as we get closer…but my goodness, the enthusiasm from the banking side and the group side is nuts.
MZ: It’s exciting but I don’t want it to be another let down.
MZ: Yes, More and more sources are telling me that serious money movement and us moving towards the banks somewhere around the 12th-15th. Noone knows the exact timing but they are certainly preparing lots of bank contacts for that time period , so I think it may speak well to where we may be on that.
Member: IMO- They’re at the point where they have to make an adjustment .
MZ: Yes they have to…I agree
Member: Wow – Mr Cottrell was very excited yesterday…he actually said that word from Treasury is it’s IMMINENT and the process has begun
MZ: Yes he was very upbeat and excited with what he is hearing from his “back channels” and Treasury contacts
Member: Someone was asking about Dinar being in short supply earlier. I am, in fact, seeing this as well. My work partner, and now Dinar brother, tried to order some more Dinar from Citibank a few weeks ago. …..I say tried because they told him that they were all out. Unless they received another shipment, they were all out. That’s a very good sign.
Member: My bank here in Nevada will be closed the 13th and no online for the 13th (evening time) to the 14th evening. Hmmm.
Member: my bank gave notice the weekend of the 14th all accounts will not be visible online they are upgrading.
MZ: “JP Morgan warns 86 million customers that they may have to start paying for their bank accounts” Now that the government is going to restrict how much they can charge for overdraft s ect…..and when they say things like this – it’s all wrapped up in Basel 3 requirements. They are also very upset they are going to have to have more assets to cover “stress” on the banks. Presently they hypothecate it out of thin air.
Member: Everyone have a great weekend. Prayers for anyone in need. Hugs to anyone that needs one
Member: Thank you to MarkZ and all the Mods for everything you do!!!
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.
TO GET THE “REAL MARKZ ACCOUNTS”, TWITTER, YT, RUMBLE, TELEGRAM ROOMS, AND FOR MARK’S DAILY LINKS TO HIS WEBSITE: https://theoriginalmarkz.com
STAY IN THE KNOW: FOR UPDATES ON PODCASTS (CHANGES & GUESTS). YOU WILL FIND PLENTY OF USEFUL INFO THAT KOUKLA UPDATES OFTEN FOR MARK AT THE TELEGRAM INTEL CHANNEL: https://t.me/+K_GNVfTI0gFkZWYx
GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut
THANK YOU ALL FOR JOINING. HAVE A BLESSED WEEKEND! SEE YOU ALL MONDAY MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!
“Tidbits from TNT” Saturday 7-6-2024
TNT:
Tishwash: Sudanese congratulates Iranian president-elect
Prime Minister Mohammed Shia al-Sudani stressed, today, Saturday, the importance of continuing coordination between Iraq and Iran at the highest levels and in all fields.
The Prime Minister's Media Office stated in a statement that "Prime Minister Mohammed Shia al-Sudani congratulated Masoud Pezeshkian on his election as President of the Islamic Republic of Iran."
In a telegram sent to Pezeshkian, according to the statement, the Prime Minister expressed his "wishes for his success in his duties," stressing "the depth of relations between the two friendly neighboring countries, and the importance of continuing coordination at the highest levels, in all fields, and in a way that serves common interests." link
TNT:
Tishwash: Sudanese congratulates Iranian president-elect
Prime Minister Mohammed Shia al-Sudani stressed, today, Saturday, the importance of continuing coordination between Iraq and Iran at the highest levels and in all fields.
The Prime Minister's Media Office stated in a statement that "Prime Minister Mohammed Shia al-Sudani congratulated Masoud Pezeshkian on his election as President of the Islamic Republic of Iran."
In a telegram sent to Pezeshkian, according to the statement, the Prime Minister expressed his "wishes for his success in his duties," stressing "the depth of relations between the two friendly neighboring countries, and the importance of continuing coordination at the highest levels, in all fields, and in a way that serves common interests." link
Tishwash: US messages to Iraqi leaders: Dollar cash flow may stop
Prominent Kurdish politician, Masoud Barzani, sent messages to Iraqi political leaders, stating that the entry of some factions into the Israeli-Iranian conflict may prevent the flow of cash dollars into Iraq.
Politician Mishaan Al-Jubouri said that Barzani informed the leaders of the Coordination Framework that the American siege will be imposed on Iraq if Washington's interests are attacked.
He added that Barani also informed the leaders of the Coordination Framework that America can stop the flow of dollars to Iraq and cause harm to the country, but Iraq is unable to cause any harm to America link
************
Tishwash: Prime Minister's Advisor: Iraq in the process of paying off long-term development loans to the World Bank
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Saturday, that zeroing out the debts to the International Monetary Fund reflects Iraq's high and solid creditworthiness, while indicating that Iraq is in the process of paying off long-term development loans to the World Bank.
Saleh told the Iraqi News Agency (INA): "Iraq has entered into about 5 programs with the International Monetary Fund since 2004 until the end of 2018, including 3 credit readiness programs, and all of them were characterized by providing loans whose function was to support the state of stability and economic reform in Iraq in two directions. The first: loan programs, as Iraq received loans from the International Monetary Fund to help it overcome economic crises, as these loans included supporting the general budget and financing economic stability programs, especially during the war on ISIS terrorism."
He added: "As for the other direction: in the field of economic reforms, as the International Monetary Fund usually stipulates that countries that receive loans implement certain economic reforms. In the case of Iraq, these reforms included improving the management of public finances and the banking sector, enhancing transparency, combating corruption, and reforming the energy sector."
He pointed out that "these loans did not exceed $5 billion per loan, and the actual withdrawal from them will not exceed $3 billion or more in each case, and according to a repayment program that takes place every 6 months with grace periods of two years before repayment with a moderate annual interest that usually does not exceed 4.5%, and the terms of these loans do not exceed five years."
He pointed out that "Iraq has repaid the loans that were withdrawn during the past twenty years according to regular payment mechanisms and are close to zeroing out unless they are all zeroed out today, which reflects the high and solid creditworthiness of the Republic of Iraq in repayment before the international financial community in particular and towards multilateral international financial organizations in general."
He continued: "But certainly there are long-term development loans that belong to the World Bank that are still in place, which is another development financial organization, and are worth a few billion and are in the process of repayment, and some of them are still in the process of committing to withdrawing them to spend them on completing development projects contracted with the World Bank, and they are also long-term soft loans."
He stressed that "cooperation relations continue between Iraq and the International Monetary Fund in various fields, including providing technical advice and supporting economic policies," noting that "the relationship between Iraq, the International Monetary Fund and the World Bank is important for achieving economic stability and sustainable development in the country."
He pointed out that "Iraq has been a founding member of the International Monetary Fund and the World Bank since 1945." link
***********
Tishwash: The Iraqi Private Sector and Improving the Investment Environment in the National Development Plan 2024-2028
During the past three months, the Ministry of Planning and the specialized work teams have made efforts to prepare and prepare the National Development Plan 2024-2028, the draft ofD which addressed in detail the main challenges facing the Iraqi private sector and the main objectives aimed at achieving its effective contribution to improving the investment environment.
While I agree with what is stated in the plan, we emphasize the need to add the basic pillars stated in the private sector development strategy.
For the years 2014-2030, and in particular its three time periods, its four pillars, its four pillars, what has been achieved since its launch in 2014, and what has not been achieved.
It is also necessary to state what has been achieved from Iraq’s Vision 2030, which clearly outlined the path to achieving a “strong and developing private sector.”
In addition to determining what has been achieved during the implementation of previous national development plans and the economic, financial and banking reform strategy included in the government program of the current government and what is the real role through which the private sector should contribute with government participation and support in managing the overall economy. This requires providing a legislative environment and a stable business environment and focusing on the axes that aim to build sound preliminaries for the transition to a complete economic reform. This is what we all agree on, but this requires the government and the private sector in all its banking, industrial, agricultural, energy, health, construction, tourism and service sectors to participate and cooperate in implementing the transitional, medium and long-term economic reform strategy.
This means involving the private sector in a greater role in economic decision-making and leading the market institutionally and legislatively through the following:
1- Contributing with the government to improving the business environment in Iraq and providing an encouraging investment climate to attract national and foreign capital in accordance with the government’s program and encouraging and stimulating the achievement of partnerships between the public and private sectors in financing and developing development projects that have achieved implementation rates.
Good and its allocations are included in the general budgets of 2024 and 2025
2- Contributing with the government to creating a new legislative environment based on Article (25) of the Permanent Constitution, the strategies and laws related to economic reform, the private sector development strategy, its pillars and specific contents, in a way that ensures its activation and leadership of the market in the future.
3- Maintaining and activating the partnership, dialogue and cooperation between the private sector and the government by taking rapid measures to activate the Private Sector
Development Council and start its work under the chairmanship of the Prime Minister, enacting a special law for it and forming a joint advisory council from the government and private sectors linked to the council that includes experts from the various economic sectors nominated by the council members and provides its advice and works according to a special system approved by the council.
4- Contributing with the government in developing policies, mechanisms and strategies and participating in following up on their implementation to resolve the transition to time-programmed stages to a market economy.
5- Working with the government to provide additional sources of funding for the state’s general budget by adopting the development and diversification of resources towards raising
the percentage of resources other than oil in the gross domestic product, by activating the real economy and diversifying sources of national income.
6- Work to encourage the establishment and development of small, medium and micro enterprises in order to achieve comprehensive and sustainable development, including the formation of specialized institutions for this purpose and issuing a special law to develop and advance these projects and determine their economic feasibility and benefit from the Riyada initiative launched by the Prime Minister and the National Lending Strategy launched by the Central Bank on 5/25/2024.
7- Cooperation in financing and ensuring the implementation of central plans to provide infrastructure to encourage and develop the private sector in industry, trade, agriculture, tourism, health, energy, construction, strengthening and services.
8- Activating the role of specialized banks and private banks to provide soft loans to the national private sector, as well as finding solutions to the problems of taxes and accumulated interest incurred by owners of projects that have stopped production, and setting a short- and medium-term financial policy.
9- Coordination and cooperation with the relevant ministries and financial and statistical institutions, especially the Ministries of Planning and Finance, in building a financial and statistical information base and ensuring its transparency. link
Mot: Things Like This -Ya Just Can't Make up!!!!
Mot: Hah - They Say its Gunna Beeeee Hot!!!!
Iraq News Highlights and Points To Ponder Saturday AM 7-6-24
Oil and Gas Law.. The Unsolvable Knot
Economy Oil and Gas Law.. The Unsolvable Knot Information/Report.. The Oil and Gas Law is one of the sensitive laws in the Iraqi state, as it is one of the axes of the ongoing conflict between the central and regional governments over oil imports.
The center of the dispute over the law is that the region wants to control the oil revenues in its lands according to its mood without the supervision of the federal government, while the political forces do not want to grant this privilege to the region because it gives it a kind of separatist independence, so to speak.
Since the first session of the Iraqi Parliament in 2005, the draft oil and gas law has been stuck in the drawers, as disagreements prevent its approval in its final form.
Oil and Gas Law.. The Unsolvable Knot
Economy Oil and Gas Law.. The Unsolvable Knot Information/Report.. The Oil and Gas Law is one of the sensitive laws in the Iraqi state, as it is one of the axes of the ongoing conflict between the central and regional governments over oil imports.
The center of the dispute over the law is that the region wants to control the oil revenues in its lands according to its mood without the supervision of the federal government, while the political forces do not want to grant this privilege to the region because it gives it a kind of separatist independence, so to speak.
Since the first session of the Iraqi Parliament in 2005, the draft oil and gas law has been stuck in the drawers, as disagreements prevent its approval in its final form.
After 18 years, he announced the formation of a committee to draft the law and present it to the government and the House of Representatives.
The committee formed between Baghdad and Kurdistan to draft an oil and gas law includes the Minister of Oil, the Minister of Natural Resources in the region, the Director General of SOMO, and senior staff in the Ministry of Oil, in addition to oil-producing provinces such as Basra, Dhi Qar, Maysan, and Kirkuk.
Oil and Gas Law.. The Unsolvable Knot Ea31c5d3-92af-43f1-a17b-8b349f7d84ca
Iraq exports an average of 3.3 million barrels of crude oil per day, and black gold constitutes more than 90 percent of the Iraqi treasury's resources.
Article 14 relates to oil revenues in the Kurdistan Region and their audit by the Federal Audit Bureau.
The Iraqi Oil and Gas Bill regulates this vital sector for Iraq and the management of the country’s oil fields through a single national company, with revenues deposited into a single account.
The financial advisor to the Iraqi Prime Minister, Mazhar Mohammed Salih, confirmed in statements that accelerating the approval of the federal oil and gas project law in the House of Representatives as soon as possible will establish a stable national roadmap for investment and production of the country's primary sovereign resource, which is oil and gas.
He explained that this "natural resource contributes directly to Iraq's gross domestic product by nearly 50 percent, and has an indirect impact on our country's total economic activity by no less than 85 percent."
Saleh said, "Adopting a unified national oil policy, and achieving optimal investment and production in Iraq's oil area, starting from the southern fields and going up to the northern and regional fields, is an important and strategic matter in the matter of benefiting from opportunity costs in the optimal and harmonious operation of the current Iraqi oil policy."
The draft of the Iraqi oil and gas law available to parliament stipulates that the responsibility for managing the country's oil fields should be entrusted to a national oil company, supervised by a federal council specializing in this matter.
For its part, the Kurdistan Oil Law indicates that the Iraqi government has the right to participate in the management of fields discovered before 2005, but fields discovered after that are subject to the regional government.
In 2022, the Federal Court in Baghdad ordered the region to hand over the oil produced on its territory to Baghdad, and to cancel contracts signed by the region with foreign companies. The matter went so far as to invalidate contracts with many foreign companies, especially American and Canadian ones, by the judiciary in Baghdad.
After years of exporting oil alone via Turkey, the Kurdistan Region must, as of late 2023, abide by an international arbitration ruling that gives Baghdad the right to fully manage Kurdistan’s oil.
As a result, exports from the region stopped. An interim agreement signed between Baghdad and Erbil stipulates that Kurdistan’s oil sales will be made through the Iraqi State Oil Marketing Organization (SOMO), while revenues generated from the region’s fields will be deposited in a bank account at the Central Bank of Iraq or one of the banks approved by the Central Bank of Iraq.
Oil and Gas Law.. The Unsolvable Knot 7de13617-1067-4c34-ac1f-eeeb319b03ca
Member of the Parliamentary Oil and Gas Committee, MP Dhurgham Al-Maliki, revealed that the Coordination Framework and the State Administration Coalition discussed the oil and gas law with Masoud Barzani.
Al-Maliki told Al-Maalouma Agency, "The committee discussed the draft law in a professional manner and completed most of its paragraphs, but the government requested its withdrawal to make amendments to it, indicating that the law is still in the government's possession."
He considered that "the obstruction of the approval of the annual budgets is due to the oil disputes between the center and the region, indicating that the approval of the law has become an urgent necessity due to its ability to resolve 90% of the disputes between the region and the center."
He stressed that "the legislation of the law is governed by political agreement, not professional agreement," calling on "political forces to pressure the government to send the law for the purpose of legislation." LINK
Parliamentary Oil Committee Reveals Details Of The Oil And Gas Law And The Reason For Not Legislating
Policy Information / Baghdad.. Member of the Parliamentary Oil and Gas Committee, MP Dhurgham Al-Maliki, revealed today, Saturday, that the Coordination Framework and the State Administration Coalition discussed the oil and gas law with Masoud Barzani.
Al-Maliki told Al-Maalouma Agency, "The committee discussed the draft law in a professional manner and completed most of its paragraphs, but the government requested its withdrawal to make amendments to it, indicating that the law is still in the government's possession."
He considered that "the obstruction of the approval of the annual budgets is due to the oil disputes between the center and the region, indicating that the approval of the law has become an urgent necessity due to its ability to resolve 90% of the disputes between the region and the center."
He stressed that "the legislation of the law is governed by political agreement, not professional agreement," calling on "political forces to pressure the government to send the law for the purpose of legislation." LINK
Parliamentary Oil Committee Calls For Speeding Up The Legislation Of The Oil And Gas Law
Economy 14:19 - 2024-07-06 The Parliamentary Oil and Gas Committee called on political forces on Saturday to pressure the government to send the oil and gas law to parliament for legislation.
Committee member, MP Dhurgham Al-Maliki, said, "The committee discussed the draft law in a professional manner and completed most of its paragraphs, but the government requested its withdrawal to make amendments to it, noting that the law is still with the government."
He continued, "The delay in approving the annual budgets was mostly due to oil disputes between the center and the region, noting that approving the law has become an urgent necessity due to its ability to resolve 90% of the disputes between the region and the center."
He stressed that "the legislation of the law is governed by political agreement, not professionalism," calling on "political forces to pressure the government to send the law for the purpose of legislation." https://kirkuktv.net/AR/Details/21511
US Messages To Iraqi Leaders: Dollar Cash Flow May Stop
Local Economy News – Baghdad Prominent Kurdish politician, Masoud Barzani, sent messages to Iraqi political leaders, stating that the entry of some factions into the Israeli-Iranian conflict may prevent the flow of cash dollars into Iraq.
Politician Mishaan Al-Jubouri said that Barzani informed the leaders of the Coordination Framework that the American siege will be imposed on Iraq if Washington's interests are attacked.
He added that Barani also informed the leaders of the Coordination Framework that America can stop the flow of dollars to Iraq and cause harm to the country, but Iraq is unable to cause any harm to America. 194 views 07/06/2024 - https://economy-news.net/content.php?id=44927
Will The Exchange Rate Reach 1600 Dinars?
Money and business Economy News – Baghdad Economic expert, Munar Al-Abidi, confirmed that the dollar exchange rate in the parallel market may reach 1,600 dinars in the coming days after the Central Bank reduced the money supply.
Al-Obaidi said that the parallel exchange rate in the local market changes as a result of supply and demand, noting that it is expected that the value of the dinar will decrease against the dollar in the coming days and reach the 1,600 dinar barrier.
He added that the reduction in the sale of cash dollars in the local market by the Central Bank is the main factor behind the rise in the value of the dollar, and the price will depend on the provision of hard currency from sources other than the Central Bank, which are very limited and almost non-existent sources.
The Central Bank decided to prevent exchange companies from giving dollars to travelers at their headquarters, but rather limited them to airports only, with the aim of preventing them from being exploited by some parties. 80 views 07/06/2024 - https://economy-news.net/content.php?id=44921
Provoking Thoughts and Points To Ponder On Adversity:
Prosperity is not without many fears and distastes, and adversity is not without comforts and hopes. - Francis Bacon
If we had no winter, the spring would not be so pleasant; if we did not sometimes taste of adversity, prosperity would not be so welcome. - Anne Bradstreet
The good things that belong to prosperity are to be wished, but the good things that belong to adversity are to be admired. - Marcus Annaeus Seneca
One who was adored by all in prosperity is abhorred by all in adversity. - Baltasar Gracian
Prosperity provideth, but adversity proveth friends. - Queen Elizabeth I
http://famousquotesandauthors.com/topics/adversity_quotes.html
News, Rumors and Opinions Saturday AM 7-6-2024
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 Sat. 6 July 2024
Compiled Sat. 6 July 2024 12:01 am EST by Judy Byington
Trust The Plan:
US Debt and Economic Collapse: The US debt is projected to reach an unprecedented $35 trillion, with federal public debt surpassing 100% of the country’s annual economic output by 2025. This fiscal trajectory indicates the imminent bankruptcy of the US CORPORATION and the need for a new economic system.
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 Sat. 6 July 2024
Compiled Sat. 6 July 2024 12:01 am EST by Judy Byington
Trust The Plan:
US Debt and Economic Collapse: The US debt is projected to reach an unprecedented $35 trillion, with federal public debt surpassing 100% of the country’s annual economic output by 2025. This fiscal trajectory indicates the imminent bankruptcy of the US CORPORATION and the need for a new economic system.
US Treasury Notes and Wall Street: Wall Street is bracing for a flood of new US Treasury Notes, signaling the transition to a new financial system. This move is part of the broader strategy to collapse the old system and usher in a new era of economic transparency and fairness.
The Economic upheaval will lead to a Global Currency Reset, GESARA/NESARA and debt forgiveness. The Alliance is pushing for global debt forgiveness through GESARA. This initiative aims to liberate nations from financial enslavement and promote economic equity.
A Black Swan Sky Event will disrupt normalcy and trigger a series of reactions including a collapse of the Petrodollar Stock Market Crash, Bank closures, affecting economies worldwide.
A Blackout is deemed necessary to control the fallout from the anticipated events including preventing runs on banks and a complete collapse of the Stock Market.
Global Currency Reset:
Fri. 5 July 2024: Japan resets their currency – the Global Currency Reset start: https://x.com/RAGrubb2/status/1808929522189799656?t=4eSAQUdjfPCr0RUAVQEVhw&s=35
Fri. 5 July 2024: Wolverine: “They have started in Brazil and it’s not just Brazil. I’m hoping it’s also Hong Kong and Reno. It’s happening and won’t be announced. Keep an eye on your emails.” Thurs. 4 July 2024 Wolverine: “Since MarkZ let it out of the bag: Brazil starts payments on Friday 5 July 2024. Blessings. …There will be no announcement of the RV. The notifications for Tier4b to exchange will just come out without warning. Tier4b is defiantly going to exchange very soon. I received a call, but can’t say much because everything is confidential. Everyone is under NDAs. Private contractors are being paid. Bond Holders are starting. I’ve seen the signed contracts and certified documents for the reset. It’s defiantly happening.”
The Rodriguez Trust located in Tagalog Philippines has indicated that Nesara/Gesara is about to start. The gold is located in the Philippines too. …Sampalog1958 on Telegram Fri. 5 July 2024
Thurs. 4 July 2024 : No guarantees but the latest from the banker is the scuttlebutt from above him is certain bond groups will be notified over this weekend and should that occur the currency notices will go out next Tuesday or Wednesday 9, 10 July 2024, with appointment scheduling afterwards with exchanging beginning the week of the 15th of July.
Tues. 2 July 2024 Bruce: The word from a Redemption Center Head was that Tier4b (us, the Internet Group) were going to get notified on Fri. 5 July and receive appointments over the weekend. NESARA should be announced the 8th or the 9th.
Sun. 30 June 2024 Breakfast with Tiffany: USD funds for Trigger Files have been released and will be ready for disbursement next Mon. 8 July and prerequisites for launching USN Bills now being finalized and scheduled for disbursement on that July 8th.
GESARA is supposed to be announced July 8th as well, been further advised Trigger Bond payment Monday 1st and bond redemption payments Thursday 4th, public release of USN Bills and Currency Revaluation starting the 8th.
The Global Currency Reset release of funds across the World has been given, with funds coming directly from the US Treasury Department of Defense Operations.
The launch of the RV was slowed down due to many Hacker and Cyber Attacks.
There will be an Internet Blackout
The White Hat Military are in control of the redemption process.
Wells Fargo and HSBC are leading these operations across the Globe.
There are local institutions in countries around the World that are connected and ready for Global notifications with access to Treasury Departments in the different countries.
All banks have signed confidentiality agreements (NDA) so it is normal for everything to be silent.
Notifications have gone out to Tier 4a, a small group of Tier4b and some Bond Holders.
The RV is being negotiated on the Forex.
Sun. 30 June 2024 Mike Bara: The “Bond Holder” has been told he will be paid this week. I was told what day, but cannot share it. MarkZ reported that an announcement about lower denominations has been made in Iraq.
Sun. 30 June 2024: Look for something to happen around Mon. 8 July in regards to the NESARA announcement that will tie in with November 5th, allowing for the 120 days.
Read full post here: https://dinarchronicles.com/2024/07/06/restored-republic-via-a-gcr-update-as-of-july-6-2024/
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Al-Sudani told us what? The project to delete the zeros is on the table. He said $1 will equal 1.32 dinars...If you look at the math, that's dropping the 3-zeros.
Frank26 Question: "Do they have to pass the HCL before it RIs?" The HCL is already passed. The HCL has no need for anything. It sits there. Now, parliament is coming out and saying, we need to pass some laws in order for you to have the HCL and that might be.
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Imminent: Panic In The Bank System | Rafi Farber
Liberty and Finance: 7-5-2024
Rafi Farber says bank reserves may drop dramatically, putting the banking system in deeper crisis. The Federal Reserve may be able to prop the system up momentarily, but not forever.
"This is a finite system," he says. He discusses other factors that show "the endgame" may be close at hand, even within months.
INTERVIEW TIMELINE:
0:00 Intro
1:40 Bank reserves
12:45 Home sales
15:15 Yen & fiat currencies
19:38 Platinum
24:00 Last thoughts