Iraq News Highlights and Points To Ponder Wednesday AM 7-24-24

Causing A Huge Financial Inflation.. Al-Saadi Identifies A Parliamentary "Point Of Contention" Regarding The Drug Law

Policy  2024-07-24 |404 views Alsumaria News - Special:  Today, Wednesday, the Deputy Chairman of the Parliamentary Legal Committee, Murtada Al-Saadi, revealed the most prominent differences with the Parliamentary Health Committee regarding the Drug Law, while he pointed out the position of the Ministry of Interior regarding the naming of the law.

Al-Saadi told Sumaria News: "I submitted the drug law proposal at the beginning of the session and we worked on it for more than a year. There were many hostings and its first reading was completed after our efforts with the parliamentary health committee"

He added that "there is a point of disagreement about naming the site and whether it will be an agency, a commission or a directorate," indicating that "the legal committee stresses that it should remain a general directorate for drugs and this is an important part."

He pointed out that "parties in the Ministry of Interior are working hard to make it a body, and we objected to it because it will cause significant inflation and save huge sums of money, which will result in flabbiness like the rest of the bodies."

He explained that "the committee is now with the Ministry of Health and the vision is one to proceed with preparing the report and working to complete this important law and withdraw all the observations submitted by the representatives."

Earlier this month, the head of the Parliamentary Health Committee,    Majid Shankali, said that "the committee will work during the current legislative session on the first amendment   to the Narcotics Law of 2017." LINK

President Of The Republic: Iraq Is Politically, Security-Wise And Economically Stable And Supports Human Rights

Time: 2024/07/23 Reading: 169 times

President of the Republic: Iraq is politically, security-wise and economically stable and supports h Screenshot-gallery-97 

{Politics: Al Furat News} President of the Republic Abdul Latif Jamal Rashid confirmed today, Tuesday, that Iraq seeks to develop its relations positively with various countries of the world, based on the stability it is witnessing on the security, political and economic levels.

The Presidency of the Republic stated in a statement received by {Al Furat News}, that "Rashid received at the Baghdad Palace, the German Federal Ambassador Christine Hohmann, the Chargé d'Affairs of the Kingdom of the Netherlands Laetitia Van Asch, the Canadian Chargé d'Affairs Marie Therese Hilal, in addition to the Political Advisor to the Embassy of the United Kingdom Angus Clarkson."

The President of the Republic pointed out that "the Iraqi government is working on developing comprehensive plans to rehabilitate and operate factories and plants, and attract investors due to the existence of equal and promising opportunities for companies to invest in Iraq through vital and developmental projects, especially since Iraq today enjoys political, security and economic stability."

He stressed, "Iraq's efforts in combating violence against women and children, finding solutions to the issues of displaced persons, supporting human rights in general, and the means to activate joint international cooperation in this field,"

noting that "Iraq cares about and supports human rights in a distinctive way, and supports its principles and adopts them as a basis for legislating its laws and organizing community work, as all complaints in this regard receive attention and follow-up from the Presidency of the Republic and the relevant authorities."

In turn, representatives of diplomatic missions expressed their happiness with the "development taking place in Iraq," stressing "their countries' keenness to support Iraq's stability and expand the horizons of cooperation with it in various fields."  LINK

Parliamentary Investment: Approval Of The Arbitration Law Will Protect Foreign Capital From Sanction

Economy  Information / Baghdad ..   Member of the Parliamentary Economic and Investment Committee, MP Mohammed Al-Ziyadi, confirmed today, Tuesday, that the approval of the arbitration law will protect foreign capital from international financial sanctions.

Al-Ziyadi said in a statement to / Al-Maalouma / agency, "Tomorrow's session will witness the first reading of the arbitration law, which is a step towards activating commercial investment in Iraq."

He pointed out that "Iraq is in dire need of approving this law because it will open up horizons for commercial cooperation and investment of funds, in addition to thinking about ways that help attract investors and capital."

Al-Ziyadi stressed the "necessity of not touching the foundations of the state and the integration of government institutions."

It is noteworthy that the Presidency of the Iraqi Council of Representatives included the first reading paragraph of the draft arbitration law in its session that will be held tomorrow, Wednesday. LINK

The Government Approves A Package Of New Decisions

Economy  ,  07/24/2024 10:23  , Number of readings: 162 Baghdad - Iraq Today:  The Iraqi Council of Ministers approved a package of decisions in various economic and service sectors, most notably the construction of dozens of schools in a number of governorates.

The Prime Minister's Media Office stated in a statement that the Council held its thirtieth regular session chaired by Muhammad Shiaa Al-Sudani, during which the general situation in the country was discussed, and the implementation of the government program priorities was followed up. The session reviewed the most important files related to development and economic aspects, as well as considering the topics on the agenda, and making decisions about it.

Al-Sudani stressed that the ministries and security agencies must rely on what is available at the Military Industrialization Authority, especially since the equipment and products it produces conform to standards and at an appropriate cost, which represents an essential factor in achieving autonomy.

He stressed that these industries could be a base for developing multiple civil industries, because part of the factories serve civil ministries, including the electrical transformer rehabilitation factory.

1- Increasing the total cost of the project (acquisition of the plot of land numbered (5686/1) m 43, Yaramjah al-Sharqiya/Mosul, Nineveh Governorate)/Ministry of Justice.

2- Approval of the amount of the increase due on undisbursed dues, within Cabinet Resolution 301 of 2021, in (Contract 1 Direct Invitation/2012), a project to build (251) school buildings, using the prefabricated concrete construction method, in the governorates except Baghdad.

In the project contract (4/assignment/2012), which includes the construction of (73) schools using the prefabricated concrete construction method in the governorates of Baghdad and Babylon, with (60) schools in Baghdad and (13) in Babylon. In the draft contract (1/assignment/2012), the construction of (65) schools in place of those in danger of collapse, of various capacities, using the prefabricated concrete construction method, with (20) in Babylon, (41) in Muthanna, and (4) in Diwaniyah.

3- Approving the amount of the increase in the total costs and the reserve percentage for the projects recorded in the letter of the Ministry of Planning, dated July 8, 2024, which includes the previously executed spare orders, which are required to be implemented ( the second phase), and the spare orders resulting from the amount of uncompleted works in accordance with the decision of the Council of Ministers (301 For the year 2021).

4- Increasing the amount of reserve for the contract (construction of the North Tikrit Bridge) and its approaches (first phase) within the project (construction of the Tikrit Concrete Bridge (North Tikrit Bridge) and its approaches).

8- Increasing the amount of reserve and the total cost of the main project (paving streets in the center of Basra Governorate with sidewalks, number 7).

In the course of treatments for the electric power sector, the Council of Ministers approved the recommendation of the Central Committee for Review and Approval of Referral in the Ministry of Electricity, regarding the signing of a contract addendum with BFT Company within the investment plan, which Includes the design, equipping and implementation of electric power transmission lines by the concerned company, according to the following: 1-

Adopting the prevailing standard costs that serve the interest of the Ministry of Electricity.

2- Determine the lines that will be implemented within the contract, after obtaining the necessary approvals, provided that they do not exceed the contractual financial ceiling specified in the contract annex, and only mention the total lengths of the lines.

3- BFT Company shall bear the previous bank commissions, while the General Company for Electricity Transmission/Central Region shall bear the integrity and accuracy of contractual procedures, in accordance with laws, regulations and instructions.

Within the framework of developing and supporting the national industry, the Council approved the recommendations of the minutes of the meeting of the Dry Gas Committee for Investment Projects, regarding (Khor Al-Zubair Fertilizer Factory/ Southern Fertilizers General Company, Abu Al-Khaseeb Fertilizer Project/ Under Referral Procedures, and New Projects), taking into account the comments of the Minister of Industry and Minerals at the minutes, including:

1- Determining the price of dry gas supplied to the Southern Fertilizers Factory: 50 dinars/mqm, for the General Company line, and the partnership line with the private sector, and the price of gas for the attached projects shall be 75 dinars/mqm, and the new projects that are announced shall be according to a price equation agreed upon between the Ministries of Oil and Industry, and with the approval of the Ministerial Council for the Economy.

2- The Ministry of Oil is committed to allocating and equipping new industrial projects planned to be established in partnership with the private sector, by public companies in the Ministry of Industry and Minerals, with quantities of dry gas, according to the need of those projects for quantities, and according to a timetable for equipping, and at prices that achieve the economic feasibility of establishing those projects, and the quantities and prices are regulated through an agreement between the Ministries of Oil and Industry, and with the approval of the Ministerial Council for the Economy.

3- The Ministry of Industry and Minerals shall restore the economic balance of the partnership contracts that have been concluded, or that are under contract to establish new industrial projects, by renegotiating with the companies participating with it, to reach an economically feasible formula that ensures the continuation and continuation of implementation, in a manner that does not harm the interests of both parties.

The Council of Ministers approved the recommendations of the competent authority in the Ministry of Industry and Minerals (Industrial Development and Organization Department), based on the Iraqi Products Protection Law (11 of 2010) amended, as follows:

1- Extending the imposition of an additional customs duty of 65% of the unit of measurement of the product (plastic ampoules), imported to Iraq from all countries of origin, for a period of 4 years and without reduction.

2- Imposing an additional customs duty of 30% of the unit of measurement of a product (aluminum cans for soft drinks, juices and energy drinks).

3- The Ministry of Finance/General Authority of Customs shall apply the customs duty on the aforementioned products and notify the Ministry of Industry and Minerals/Department of Industrial Development and Organization, with a periodic notification about the imported quantities, the value of the additional duties on the imported foreign product, the exporting countries and the importing entities.

In the oil sector file, the Council of Ministers approved the recommendation of the Ministerial Council for Energy (24062 T) for the year 2024 regarding the authority to purchase and implement, which includes raising the authority to purchase and implement the Oil Projects Company for the project (the connecting pipeline network for the unit/FCC, in the Basra refinery), from 100 million dinars to 500 million dinars, based on the instructions to facilitate the implementation of the Federal General Budget Law of the Republic of Iraq (1 of 2023 ).

The Council approved the recommendation of the Ministerial Council for the Economy (24225 Q), regarding the approval of the report of the committee formed in accordance with the Diwani Order (24573 of 2024), issued by the Office of the Prime Minister, regarding studying the economics of the oil and gas sector in Iraq, leading to approving and showing the real costs along the way. The value chain, according to economic principles.

In the process of developing the infrastructure of border crossings to receive visitors and expatriates, the Council of Ministers approved the Ministry of Finance allocating an amount of (5) billion dinars to Wasit Governorate from the emergency reserve, based on the provisions of the Federal General Budget Law (13 of 2023), for the rehabilitation and establishment of a “transport square.”

 Visitors at the Zurbatiyah border crossing with its annexes, in a regular, geometric manner befitting the status of Iraq and the reception of visitors.

The Council also approved the Ministry of Finance allocating an amount of (7) billion dinars to Maysan Governorate from the emergency reserve, in accordance with the provisions of the General Budget Law, for the purpose of urgent rehabilitation of the Al-Shayb border crossing, Including the establishment of 3 squares, in preparation for the influx of visitors to the holy shrines on the fortieth anniversary of Imam Hussein. ‘

Maysan Governorate should follow the direct invitation method, as an exception to the instructions for implementing government contracts (2 of 2014) for the purpose of implementation, and assigning Maysan Governorate to implement the project (establishing the new Al-Shayb border crossing) in a turnkey format, as an exception to the controls attached to the instructions for implementing government contracts.

The Council also approved the Ministry of Finance allocating an amount of (3.5) billion dinars to Diyala Governorate from the emergency reserve, based on the Federal General Budget Law, for the purpose of rehabilitating the Al-Mundhiriya border crossing, in preparation for receiving visitors , and authorizing Diyala Governorate to have direct implementation authority for the purpose of implementing the project, and it includes (Project Establishment of the new Al-Mundhiriya border crossing) within Diyala Governorate's allocations from the Liberated Governorates Reconstruction Fund.

In this regard, and in order to benefit from the experience of the Supreme Authority for Hajj and Umrah in the processes of delegation and reverse delegation; The Council approved the following:

1. Authorizing the Authority to contract with private transport companies for the purpose of renting (2000) buses, as an exception to the Government Contracts Implementation Instructions No. (2) of 2014, and the controls attached there for the purpose of transporting visitors to Imam Hussein (peace be upon him) during the fortieth visit. The Ministry of Finance allocates the required amount from the budget of the Prime Minister's Office.

2. Reducing the percentage of tax withheld from contracted transport companies on contracts concluded from (3%) to (1%), according to the authority vested in the Ministry of Finance.

3. Approval of the guarantees submitted to the Supreme Authority for Hajj and Umrah by the companies to be contracted with, in accordance with the fundamental mechanisms and procedures followed by the Authority for contracting purposes.

4. Approval of subscription receipts for companies to be contracted with in the Department of Labor and Social Security.

5. The Supreme Authority for Hajj and Umrah is responsible for the validity and safety of contractual procedures, and the Prime Minister’s Office forms committees to follow up and monitor the work mechanism.

In order to develop the work of the Iraqi air system and raise its level of efficiency, the Council agreed to exempt the General Company for Airport and Air Navigation Management from contracting methods and instructions for implementing government contracts (2 of 2014), in implementing projects related to developing the infrastructure for special devices and equipment for air traffic management systems.

Navigation, radars, air guidance and automated landing systems, communications for air navigation and cybersecurity systems, as well as what is related to restructuring Iraqi air routes,

 linking them to the global network of neighboring countries, transforming the navigation system in Iraq, and reducing the longitudinal separation between aircraft, which contributes to increasing the density of aircraft movement. In the Iraqi airspace, it maximizes the company's resources.

It was approved to authorize the Ministry of Education to contract, in a direct referral manner, with the Iraqi Media Network and the House of Cultural Affairs in the Ministry of Culture, to complete the printing of school curricula.

The Council authorized the Ministry of Construction, Housing, Municipalities and Public Works to choose the appropriate agreement method, as an exception to Government Contracts Implementation Instructions No. (2 of 2014) for the purpose of repairing the minaret of the Al-Khalifa Mosque.

It was also approved to exempt the Central Agency for Standardization and Quality Control from the provisions of Article Seven of Instructions No. (1 of 2023), the provisions to facilitate the implementation of the Federal General Budget Law, with regard to purchasing and equipping laboratories with the devices, equipment, and laboratory supplies necessary for the work of the device, based on the aforementioned instructions.    LINK 

7 Major Differences Between Rich and Poor People

7 Major Differences Between Rich and Poor People, According To Money Expert Humphrey Yang

Adam Palasciano  Tue, July 23, 2024  GOBankingRates

Of course, everyone wants to be rich. The idea of not having to worry about money seems like a dream for most. But, becoming rich takes lots of discipline and determination. The reality is that it’s easier to be poor.

In a recent YouTube video from financial guru Humphrey Yang, he outlined the seven major differences between rich and poor people that are important to understand.

If you want to become rich, you’ll need to understand the key differences between the rich and the poor.

The Rich Are Subtle About Their Wealth

The rich are more focused on “stealth wealth”: they’re not trying to impress people with fancy cars, designer clothes and handbags, or expensive vacations. They’re modest and they’ve developed financial freedom and autonomy, rather than spending money on discretionary purchases.

When poor people come into money for the first time, they’re tempted to go out and spend money on things that they believe will give them some sort of status. This is exactly how not to become rich

The Rich Know It Takes Money To Make Money

The rich save and invest their money rather than spend it right away. They understand the idea of leveraging capital to scale their well. Poor people frequently tend to spend money rather than save money.

The reality is that the more you save, the easier it is for your money to work for you. Reaching a 6 figure portfolio is key to accelerating your financial growth.

The Rich Understand Delayed Gratification

The rich know that resisting impulsive purchases will lead to a big payoff later in life. Poor people tend to spend money on the things that bring them gratification now rather than save and invest that money for the future. Delayed gratification and stretching out your time horizon are both key to long-term wealth accumulation.

The Rich Invest in Assets

Rich people love to invest in assets. Poor people tend to just leave their money in a savings account rather than invest it. An asset is defined as a resource with an economic value that will provide a benefit to you at a later point in time. Assets can include real estate, stocks, index funds, retirement funds, etc. Typically, assets go up in value and some pay you just for owning the asset.

TO READ MORE:

https://www.yahoo.com/news/finance/news/7-major-differences-between-rich-195149153.html

News, Rumors and Opinions Wednesday AM 7-24-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Wed. 24 July 2024

Compiled Wed. 24 July 2024 12:01 am EST by Judy Byington

Imminent!
Emergency Broadcast System Release Globally
Global Communication Blackout
NESARA/GESARA Release
Freedom From Debt to The Deep State Cabal
Global Currency Reset of 209 Sovereign Nations to Gold/Asset-backed Currencies

It’s only wise to have at least a month’s supply of food, water, cash, medicine and essential items on hand for your family and to share with others in case of emergency.

Global Currency Reset:  (Opinions/Rumors)

Tues. 23 July 2024 Bruce:

The Emergency Broadcast System and Emergency Warning System will (allegedly) start on Wed. 24 July or Thurs. 25 July.

The Redemption Center screens (allegedly) showed solid rates late Tues. afternoon.

By Wed. 24 July at 9:30 EST the rates will be (allegedly) solid on the Redemption Center screens.

Staff will(allegedly)  be sent in at 10 and 2 pm to cover day on Wed. 24 July.

Tier4b (us, the Internet Group) should get notified Wed. 24 July and start that same day.

The Iraqi Dinar(allegedly)  has a Contract Rate that will be offered to US citizens – very high

Zim Holders (allegedly) have precedent going in for appointments and for Med Bed appointments

Bond Holders will (allegedly) be notified on Wed. 24 July and get access to their monies on Thurs. 25 July.

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Tues. 23 July 2024 MarkZ: Some interesting historic bond stuff. I am hearing comforting things from the bond side and this is coming from many sources….that historic paperwork –especially on the Asian bonds was sent to the Hague. I am also hearing the only reason the RV did not go over the weekend was fights over the value of some old German bonds. But things are now “unstuck” and seems to be moving much quicker now that the current administration is no longer delaying things. They are too preoccupied to keep slowing and stopping things right now.

Mon. 22 July 2024 Banker: “The banker is traveling back to Texas on Wednesday and is hopeful for a Thursday announcement with appointment scheduling to follow thru the weekend. We shall see.”

Tues. 23 July 2024 Wolverine:

“I am so excited. The Precatorios Platform was (allegedly) made liquid today. We are talking millions of people. Private contractors are also(allegedly)  being paid. I also heard that more have been called into Zurich. My Asian contact said that their platform starts on Wed. 24 July.”

“I have been crying a lot and full of happiness. What a day to wake up to. I received a call at 5 am this morning and listened to the yells and screams of joy from leaders in the Precotorious group! It is mindboggling that all this has been released at last. They will be blessed in a few days onto a digital wallet.  It is a Stablecoin, so they do not have to worry as that particular crypto goes down.  There will also be debit cards from wallets.  No bank will have hold on their money from a bank account. It has been absolutely phenomenal on that platform Thanks to Brazil people will enough oxygen to breathe and not worry about the help they need so much.

Last night, a certain country in Asia is (allegedly) about to release today. China as well.  They are about to be released as well. Listen to Wolvie he knows !  This is the week we have waited for – FOR all of us!!!!

Zurich Source -I was told that there was a big meeting of the London Committee this morning. Everything is in progress. Waiting for the (allegedly) start of activities tomorrow Wed. 24 July.

A committee member in London confirmed that funds will be released this afternoon in Reno and payments tomorrow Wed. 24 July.  That is, has the delivery and return of the trigger contracts (allegedly) been completed or is it still pending? Pending.

If what Zurich and London say is correct, activation payments will begin tomorrow Wed. 24 July.  Reno has liquid funds.  They received instructions to pay tomorrow morning 1. Farmers-2-Elderly -3 Platforms.

On Wednesday, to (allegedly) pay the ‘whales’.

On Thursday D-1-D-2 will be (allegedly) released.  The platforms will receive their funds tomorrow, but they must wait for D1 and D2 to go live on Thursday.  Dubai 1 and Dubai 2 provide all the money for the exchange and although the Platforms can receive your funds and send contracts, notices, etc.,

God bless you all we have finally arrived. This is the news guys. We have finally arrived. Give a big hug to your family, wife, husband, sons and daughters, we have finally arrived. This is the week we have been waiting for. And at last, Precatorios is released for millions.  We have finally arrived. God Bless you.

Five years on this, almost six years, has taken lots of toll on my health, lost my hearing as well, and I need those med beds, and hoping those will be available soon. I will be traveling very soon guys. Very soon. I will leave the channel to Carpathia and that is all from me. Have a beautiful day, love you guys, with all my heart. Wolverine.

“What are Precatorios? Around 2018, a pilot test was carried out in Brazil where funds were delivered to several holders, as part of their negotiations of financial instruments. These funds were blocked without legal justification, to which the beneficiaries responded with a lawsuit. When a ruling was not received within the stipulated time, a legal resource called Precatoria was used, which had a successful result. Because of this, the program was named that way. As within the transaction the humanitarian issue or donations are required, this is where the opportunity to participate in this program arises.

At this moment there is a start in Brazil, for the beneficiaries of this process. We must take into account the respective travel times to each representative according to their Region, then to each leader and continuing with the lists, it takes time to organize the logistics, which is why we cannot establish exact dates.

The processes was in the final stretch. The main representatives were already in training and organization to give the pass to the nations and in turn the different representatives of each nation are developing tests on the lists depending on their logistics, to have effective deliveries and fast and above all legally, for the support of each recipient.

Read full post here:  https://dinarchronicles.com/2024/07/24/restored-republic-via-a-gcr-update-as-of-july-23-2024-2/

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

Margarita   Article Quote:   "The World Trade Organization usually intervenes in the exchange rate policy when the concerned country deliberately keeps the value of its local currency low in order to improve the competitiveness of local production and encourage exports at the expense of foreign goods,"  WOW!...the wto DOES USUALLY interfere in the exchange rate policy...

MarkZ   [via PDK]  I am...hearing the only reason the RV did not go over the weekend was fights over the value of some old German bonds. But things are now “unstuck” and seems to be moving much quicker now that the current administration is no longer delaying things . They are too preoccupied to keep slowing and stopping things right now.

The US Literally Cannot Repay Its National Debt.

New Money:  7-23-2024

The Congressional Budget Office has admitted that the US national debt cannot be repaid. So what's the solution from the US Government and Federal Reserve, will this weigh on the election, and what will the result be for the stock market?

CONTENTS

 0:00 The U.S. Can't Repay Its Debt

 1:00 How the Government Goes Into Debt

4:00 The Size of the Deficit

8:15 Inflating Away the Debt

 12:40 Fixing the Deficit

https://www.youtube.com/watch?v=iK5dpPzjaPA

Silver vs Fiat: The Fall of Minimum Wage in Real Terms | Mike Maloney

Mike Maloney:  7-23-2024

In this eye-opening video, Mike Maloney breaks down complex economic concepts to reveal that the minimum wage has effectively fallen by over 70% since 1963.

Using the example of silver quarters, he illustrates the decline in purchasing power and discusses the broader implications of income inequality and flawed economic policies.

Learn why raising the minimum wage might not be the solution and explore alternative approaches to solving economic disparities.

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

“Tidbits From TNT” Wednesday Morning 7-24-2024

TNT:

Tishwash:  American procrastination and Iraqi insistence.. Parliament announces: Foreign forces cannot remain - Urgent

Today, Wednesday (July 24, 2024), the representative of the Al-Fatah Alliance, Mukhtar Al-Moussawi, praised the government’s insistence and seriousness in resolving the issue of expelling foreign forces from Iraq.

Al-Moussawi said in an interview with "Baghdad Today", "The Iraqi government headed by Mohammed Shia al-Sudani is serious and determined to end the file of removing foreign forces from all Iraqi territories as soon as possible, and for this reason it is negotiating with the American side at a very high pace."

He added, "Certainly, the American side is seeking to procrastinate and delay, but in return there is an Iraqi government will to resolve the issue, supported politically and popularly, and it is not acceptable in any way for any foreign force to remain under any name."

Although it was announced that ending the mission of the international coalition in Iraq was one of the most important topics of Al-Sudani’s visit to Washington, which took place in mid-April, the bulk of the talks, discussions and signed memoranda of understanding focused on creating or moving the relationship from the security aspect to other development aspects, but it did not include ending security cooperation completely, while American statements deny any talk or intention to withdraw completely from Iraq.  link

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Tishwash:  Iraqi banking system.. A significant increase in the number of bank accounts and the volume of deposits for citizens

The banking system in Iraq is gradually regaining citizens’ confidence with the increase in the number of bank accounts in the country.

Banking systems around the world are facing increasing challenges in light of rapid economic and financial changes. To ensure the stability of these systems and protect depositors’ funds, many countries are moving towards joining the International Association of Deposit Insurers. This membership is not just a formality, but a strategic step that carries significant benefits for member countries and their banking systems.

In Iraq, economic and political challenges over the decades have provided a strong justification for keeping money at home rather than in banks. However, the accession of the Iraqi Deposit Insurance Corporation (ICDI) to the International Association of Deposit Insurers was a decisive step in improving confidence in the banking system. Since its accession, Iraq has witnessed a significant increase in the number of bank accounts and the volume of deposits, reflecting a significant improvement in citizens’ confidence in banks. This development enhances Iraq’s ability to attract investment and support economic growth by converting savings into productive investments.

In a world characterized by increasing economic and financial interdependence, countries cannot operate in isolation from each other. Membership in international deposit insurance bodies reflects countries’ commitment to international cooperation and exchange of expertise, and confirms their relentless pursuit of financial stability and the protection of depositors’ funds. This membership is not just a formality, but a strategic investment in the future of the banking system and the national economy as a whole.

International cooperation: the cornerstone of deposit insurance
International bodies provide a unique platform for the exchange of expertise and knowledge between member states. National financial institutions can benefit from the successful experiences of other countries in the field of deposit insurance, and avoid the mistakes made by some countries. This ongoing exchange contributes to the development and modernization of deposit insurance policies and procedures in line with international best practices.

Joining the International Association of Deposit Insurers (IADI) enhances the transparency and credibility of the national banking system. A country’s commitment to strict international standards in the field of deposit insurance sends a positive message to citizens and investors, stating that their deposits with banks that are members of the deposit insurance system are in safe hands and that the banking system is subject to effective local monitoring and supervision. International bodies do not only provide a platform for the exchange of expertise, but also provide technical and advisory support to their members.

National institutions can benefit from the expertise of international specialists in developing and implementing effective deposit insurance policies, assessing potential risks, and preparing for financial crises.

By adhering to international standards and implementing best practices, national institutions can reduce the risk of financial crises and enhance the stability of the banking system. This stability is not an end in itself, but rather a means to achieve broader economic and social goals, such as increasing economic growth rates and creating job opportunities. When citizens and investors trust the banking system, they are more willing to deposit their money in banks.

 This increased confidence leads to an increase in the volume of deposits available for investment, which supports economic activity and contributes to achieving sustainable development. The impact of membership in international bodies is not limited to enhancing financial stability and confidence in the banking system, but extends to supporting economic development. Increasing the volume of deposits available for investment can contribute to financing development projects, providing loans to small and medium enterprises, and creating new job opportunities.

Malaysia:
Malaysia joined the International Association of Deposit Insurers, which helped improve deposit insurance policies and increase confidence in the banking system. This accession led to an increase in the volume of bank deposits and greater financial stability, which contributed to supporting economic growth in the country.

South Korea:
After the Asian financial crisis in the late 1990s, South Korea joined the International Association of Deposit Insurers. International membership helped restore confidence in the banking system and stabilise the national economy, allowing South Korea to achieve a rapid economic recovery.  link

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The role of the Iraq Stock Exchange in supporting monetary policy in Iraq

Lawyer and banking expert Saif Al-Halfi

The world is now moving with rapid steps racing with the wind in the role of stocks supporting monetary policies, especially since the old classical theories considered that stock markets are not among the tools of monetary policy. This concept reflected a traditional understanding where monetary policy focused on tools such as interest rates, monetary facilities, and banks’ cash reserves.

The development of theories and the difference in models of economic studies differ with the development of research, studies and the financial market from one country to another. It is difficult to make a theory applicable to all countries and different economies, from emerging economies to more complex economies. Because of this dialectic based on trying to understand and establish the nature of the relationship between financial markets and monetary policy, which has become more evident in many countries.

Stock markets have become part of the general economic strategy of governments and central banks, especially after the introduction of the idea of ​​cryptocurrencies and digital banks, as they directly affect consumption, investment and economic confidence.

Iraqi market

In the case of the Iraqi model and long years of economic stagnation as a rentier economy that relies primarily on oil to finance its annual budgets and the state of price speculation on the stability of the dollar exchange rate in local markets or what is known as the parallel dollar situation, we can 🤔 look at the Iraqi Stock Exchange as a tool supporting monetary policy and influencing the state of the rentier economy. This is done through:

1- Encouraging local and foreign investment. The stock market can be a quick and important means of attracting local capital, especially cash in circulation, and trying to return it to banking incubators and investing it in short-term investments through price maneuvers on the shares of emerging companies listed on the Iraq Stock Exchange or long-term investments by pumping these cash blocks into the shares of profit generating companies, which are companies that regularly achieve rewarding annual financial profits, thus enhancing the idea of ​​ withdrawing the accumulated cash liquidity and returning it to banking incubators in a way that reduces immediate and temporary speculation on the parallel dollar in the local market.

It also creates real opportunities for foreign capital moving between emerging markets to enter, which provides them with the opportunity for quick entry, profitable investment and safe exit.

2- Diversifying the economy from excessive dependence on oil. The stock market can be used to encourage local and international investments in sectors that create greater economic diversity than usual and a state of rapid sales and price maneuvers for shares of promising companies in Iraq.

3- Absorbing liquidity The stock market can play an important role in absorbing excess liquidity in the economy, which helps control inflation. This depends on the ability of the Iraqi market to be quick in price transactions from buying and selling through the shares of the companies listed in it and pressuring brokerage firms to apply and activate the latest smart systems and phone applications for daily sales and contracts executed in it, as well as encouraging the publication of financial data for Iraqi companies on international platforms that encourage understanding the culture of Iraqi company shares.

One of the most important economic theories that support that financial markets can be an effective tool in monetary policy is the Wealth Effec theory, which is summarized and almost consistent with understanding the dialectic of the Iraqi economy and the stock market economy.

 More consistent with the Iraqi model is the Wealth Effect Theory, written by Gregory Mankiw. Its summary is that the rise in the value of financial assets among individuals gives them an incentive to withdraw money and re-inject it into purchasing new assets and stocks in order to increase wealth and gives them a feeling of wealth, which prompts them to spend on consumption and develop the national economy.

 In conclusion, all these theories and studies support the idea that financial markets can be an effective and successful tool in achieving economic stability and enhancing growth, especially in emerging markets such as Iraq. If the Iraqi stock market is exploited in the right way that attracts local and international investments, it can help diversify the Iraqi economy and create new opportunities that drive economic integration in Iraq, making the Iraqi Stock Exchange a valuable tool for monetary policies.  link

Mot: ..... Yahoooooooooooooo - Dad!! --- I dids It!!!!

Mot: . Bet Ya Didn't Knows This un!!! 

Iraq Economic News and Points To Ponder Tuesday Evening 7-23-24

Two Reasons Behind The Rise In The Dollar Exchange Rates In Iraq.. What Are The Expectations About Its Fate? 
 
Economy/Localities | Today, 16:42 |Baghdad today – Baghdad  Today, Tuesday (July 23, 2024), economic expert Alaa Al-Fahd revealed that
 
there are two reasons behind the return of the dollar exchange rates against the Iraqi dinar in the local market, while
 
he expected it to gradually decline.  Al-Fahd told "Baghdad Today",
 
"The rise in the price of the dollar in the parallel market came due to the
 
     Central Bank of Iraq implementing a new mechanism, selling dollars to travelers, in addition to the presence of a crisis in
 
     checking remittances in the Chinese yuan, and
 
this matter was quickly resolved by the Central Bank of Iraq."".

 Al-Fahd stated,  "We expect that there will be a gradual decline in the dollar exchange rate in the coming days.
 
This rise is common with the implementation of any new policy by the Central Bank of Iraq, as speculators try to exploit this in order to increase their profits."  He added,
 
"The Central Bank of Iraq has discussions and procedures with the US Federal Bank in order to control the exchange rate in the parallel market, and
 
this rise is due to the rise in illicit trade, but the
 
Central Bank of Iraq emphasized control over the dollar file and
 
there are positive discussions with the American side."".
 
Since Eid al-Adha, the exchange rate of the dollar has risen to more than 152 thousand dinars in the parallel market and money exchangers, after hovering around 145 thousand dinars for every 100 dollars.
 
Prices returned to decline last week, with the dollar now hovering around 149 thousand dinars for every 100 dollars.
 
The Central Bank imposed a mechanism that prevents the delivery of dollars to travelers except at airports, which increased the demand for dollars in the parallel market after illicit trade was financed through the parallel market via travelers’ dollars.   
 
https://baghdadtoday.news/254073-سببان-وراء-ارتفاع-أسعار-صرف-الدولار-في-العراق.-ما-التوقعات-حول-مصيره؟.html   

The Role Of The Iraq Stock Exchange In Supporting Monetary Policy In Iraq
 
July 23, 2024 Last updated: July 23, 2024  Lawyer and banking expert Saif Al-Halafi
 
The world is now moving with rapid steps, racing with the wind, in the role of stocks supporting monetary policies, especially since the old classical theories considered that stock markets were not among the tools of monetary policy.

This concept reflected a traditional understanding, where monetary policy was focused on tools such as interest rates, monetary facilities, and monetary reserves. For banks
 
The development of theories and the different models of economic studies vary with the development of research, studies, and the financial market from one country to another.
 
It is difficult to make a theory apply to all different countries and economies, from emerging economies to more complex economies, and because of this dialectic based on trying to understand and establish the nature of the relationship between financial markets and politics.
 
Cash is becoming more evident in many countries
 
Stock markets have become part of the general economic strategy of governments and central banks, especially after the introduction of the idea of ​​cryptocurrencies and digital banks, as they directly affect consumption, investment, and economic confidence.
 
Iraqi market
 
In the case of the Iraqi model and the long years of economic stagnation in that it is a rentier economy that relies mainly on oil to finance its annual budgets and the case of price speculation on the stability of the dollar exchange rate in local markets or what is known as the parallel dollar situation, we can look at the Iraqi market Securities as a supportive tool for monetary policy and influential in the case of a rentier economy.
 
This is done through:
 
1- Encouraging local and foreign investment.
 
The stock market can be a quick and important means of bringing in local capital, especially cash in circulation, and trying to return it to banking incubators and putting it into short-term investments through price maneuvers on the shares of emerging companies listed on the Iraq Stock Exchange for securities or investments. Long-term by pumping these cash blocks into the shares of profit generating companies, which are companies that regularly achieve lucrative annual financial profits,
 
thus reinforcing the idea of ​​withdrawing the hoarded liquidity and returning it to bank incubators in a way that reduces immediate and temporary speculation on the parallel dollar in the local market.

It also creates real opportunities for the entry of foreign capital that moves between emerging markets, which provides them with the opportunity for quick entry, profitable investment, and safe exit.
 
2- Diversification of the economy indicates severe over-reliance on oil.
 
The stock market can be used to encourage local and international investments in sectors that create greater economic diversification than usual and a state of rapid price sales and maneuvers for shares of promising companies in Iraq
 
3- Absorption of liquidity
 
The stock market can play an important role in absorbing excess liquidity in the economy, which helps in controlling inflation, and
 
this depends on the ability of the Iraqi market to be quick in price deliberations of buying and selling through the shares of companies listed in it and putting pressure on companies.
 
Mediation in applying and activating the latest smart systems and phone applications for the daily operations of sales and contracts executed therein, and also encouraging the publication of financial statements of Iraqi companies in international platforms that encourage understanding of the culture of shares of Iraqi companies.
 
One of the most important economic theories that supports that financial markets can be an effective tool in monetary policy is the Wealth Effec[t] theory, which is summarized and almost consistent...in understanding the dialectic of the Iraqi economy and the stock market economy, and is more consistent with the Iraqi model called the theory.
 
Wealth effect theory, written by Gregory Mankiw.
 
Its summary is that the rise in the value of individuals’ financial assets gives them an incentive to withdraw money and re-inject it into purchasing new assets and stocks in order to increase wealth and gives them a feeling of wealth, which prompts them to spend on consumption and develop the national economy.
 
The bottom line is that all of these theories and studies support the idea that financial markets can be an effective and successful tool in achieving economic stability and promoting growth, especially in emerging markets such as Iraq
 

If the Iraqi stock market is exploited in the correct way that brings local and international investments, it can help in diversifying The Iraqi economy and creating new opportunities driving economic integration in Iraq, which makes the Iraqi stock market a valuable tool for monetary policies    https://mustaqila.com/دور-سوق-العراق-لأوراق-المالية-في  

Completion Bonds (Second Issue)

July 23, 2024   :diamonds: demand for trading in national bonds ( Enjaz Bonds / First Issuance the request of the Ministry of Finance, this bank will offer ( Enjaz Bonds / Second Issuance ) on behalf of the aforementioned Ministry for an amount 1,500,000,000,000. (of) high Due to the and at) dinars Iraqi (one trillion and five hundred billion Iraqi dinars) ... For more, click here : https://cbi.iq/static/uploads/up/file-172172636358958.pdf    https://cbi.iq/news/view/2620

Next Year: The Opening Of 3 International Airports

 The first 07/21/2024  Baghdad: Batoul Al-Hassani

 Next year, the Ministry of Transport will open three new international airports within the southern and northern regions of the country.

Director of the Ministry's Media Office, Maytham Al-Safi, explained to Al-Sabah that the ongoing work through local and international companies within the international airports of Holy Karbala, Nasiriyah and Mosul is continuing at an increasing pace and according to the prepared and predetermined timetable for completion.

He revealed coordination with the Imam Hussein Shrine to implement and complete the Karbala International Airport project, which is considered one of the vital projects important to strengthen the aviation infrastructure in the country, as a British company is responsible for its construction at a total cost of $500 million.

 The airport is expected to receive six million visitors annually, making it the largest. in the country.

Al-Safi stated that work is underway at Nasiriyah Airport in Dhi Qar Governorate, by two companies, the

 first of which is Chinese and is carrying out its construction according to international standards, and the

second of Turkey is supervising the implementation, while the designs of Mosul Airport are being completed by a consulting party, in addition to the continuation of contracting, manufacturing and factory inspections. And training for navigational systems, devices and specialized equipment Consecutively.

He stressed that the three airports will be opened next year, which is expected to contribute significantly to

improving the air transport infrastructure in Iraq, in addition to

strengthening economic and tourism ties with various countries of the world and

opening new international destinations through them.   https://alsabaah.iq/99674-.html

Seeds of Wisdom RV and Economic Updates Tuesday Evening 7-23-24

Good Evening Dinar Recaps,

BRICS IS MAKING PREPARATIONS FOR A US DOLLAR COLLAPSE

"According to a Russian IMF representative, BRICS is ready to offer an alternative to the US Dollar amid the currency’s collapse, and the bloc must prepare for such an instance. The alliance, consisting of Russia; India, China; Brazil; South Africa; and supporting nations, has been working to abandon the US Dollar for some time."

"The BRICS bloc is working to develop a new BRICS currency to replace the US dollar, alongside local currencies between nations. In an interview with RIA Novosti published on Friday, Russian IMF rep Alexey Mozhin noted that the shortcomings of the current financial system are becoming more apparent.

Furthermore, he points out that many publications have started to mention BRICS as a group that will offer a successful alternative to the greenback."

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

BRICS CURRENCY TO SERVE AS SUBSTITUTE IF US DOLLAR COLLAPSES

"The BRICS bloc has turned to blockchain technology for its brand-new payment system, according to reports. Indeed, its efforts have sought to build a competing currency built on digital assets."

"The US Dollar is still a ways away from crashing altogether, however, the path is there for BRICS to do damage. The greenback is still the global reserve, but a mounting US Debt has ensured that it won’t remain a fact forever.

"Furthermore, support around the BRICS bloc has grown over the past few years, with more countries likely to receive invites to join in 2024.
With more support in numbers and finances, BRICS could develop a strong contending currency to fight the US dollar."

@ Newshounds News™

Read more:  The Republicans Voice

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GOLD, SILVER: India's TAX CUT to Offer a Bullish Boost for the Metals?

"Today, India slashed its import tax on gold and silver, a move that could further boost demand for both precious metals in the world’s second-biggest gold market and support higher prices globally. The move will cut taxes on gold and silver imports by more than half, lowering duties from 15 percent to 6 percent."

"India will also lower the import tax on platinum to 6.4 percent."

"World Gold Council Indian operations CEO Sachin Jain told Reuters the tax cut is “a massive step in the right direction.”

“It will reduce the incentives for smuggling of gold. It will create a level playing field for honest industry stakeholders.”

"Gold was up about $14 in overseas trading after officials announced the tax cut. Even with the high import taxes, Indian gold demand has been strong. Through the first five months of 2024, gold imports into India increased by 26 percent year-on-year, with 230 tons of gold flowing into the country. This is despite record-high prices."

"Indians have historically had an affinity for gold. Indian households own an estimated 25,000 tons of gold, and that likely understates the amount given the large black market in the country. Gold is deeply interwoven into the country’s marriage ceremonies and cultural rituals. Indians have long valued the yellow metal as a store of wealth, especially in poorer rural regions."

"Gold isn't considered a luxury in India. Even poor Indians buy gold. According to a 2018 ICE 360 survey, one in every two households in India had purchased gold within the last five years. Overall, 87 percent of Indian households own some gold. Even households at the lowest income levels in India hold some of the yellow metal. According to the survey, more than 75 percent of families in the bottom 10 percent of income managed to buy some gold."

@ Newshounds News™

Read more:  Investing

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146 TRILLIONpic

@ Newshounds News™

Read more:  https://x.com/SMQKEDQG/status/1780670320522747961

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Warren Buffett Dumps $1.5 Billion Worth Bank of America Shares

Ace investor Warren Buffett’s investment arm Berkshire Hathaway has dumped $1.5 billion worth of Bank of America (BAC) shares. The recent regulatory filings show that the billionaire offloaded 33.9 million Bank of America shares. The BAC stocks were sold at an average price of $43.56 per share. After the sale from Berkshire Hathaway, BAC stocks fell to $42.30 with a decline of 1.40%.

The reduction is significant and has come as a surprise to the US stock market. Warren Buffett is known to hold stocks for the long term and not offload them mid-way. However, despite the sell-off, Warren Buffett is still the second-biggest holder of Bank of America stocks. Berkshire Hathaway holds a 10.8% stake in BAC after falling from the top position to the second due to the sell-off

@ Newshounds News™

Read more:  Watcher Guru

~~~~~~~~~

IS TRUMP RIGHT TO WORRY THAT CHINA COULD TAKE OVER CRYPTO?

Does China regret banning Bitcoin mining in 2021? Could it opt back in? Can a single nation even control decentralized assets like BTC?

It’s only recently that Donald Trump has paid any attention to crypto. But now he wants to be the “crypto president,” and he’s raising digital assets as a geopolitical issue.

Asked on July 16 why he’s suddenly embracing the crypto community, he told Bloomberg:

“If we don’t do it, China is going to pick it up and China’s going to have it—or somebody else, but most likely China.”

In the interview, Trump explained how the recent experience with his “Mugshot” NFT Collection “opened my eyes” to cryptocurrencies, saying, “80% of the money [from the NFT sale] was paid in crypto. It was incredible.”

“So we have a good foundation [i.e., crypto]. It’s a baby. It’s an infant right now. But I don’t want to be responsible for allowing another country to take over this sphere,” he added.

His remarks raised several interesting questions — and not just whether China, which banned crypto trading and Bitcoin mining in 2021, is even interested in reentering the crypto trading and mining markets.

It touches on the relationship between governments and the crypto/blockchain sector generally.

To what extent can any single sovereign nation control decentralized and diversified digital assets like Bitcoin and Ethereum.

Is it even possible?

Why China?
China was once a major crypto player. The largest crypto exchanges, such as Binance, were located in China, and as much as 75% of Bitcoin mining took place on the Chinese mainland, according to estimates.

But in 2021, China cracked down on crypto trading and mining, and by July of that year, Bitcoin mining had essentially vanished on the mainland.

Recent developments, however, have raised speculation “that the Chinese government may be warming to cryptocurrency and that Hong Kong may be a testing ground for these efforts,” noted Chainalysis in October.

Indeed, in April 2024, the central government approved the launch of several Bitcoin exchange-traded funds (ETFs) in Hong Kong. Some observers think China wants to make Hong Kong a crypto hub — despite a continued trading ban on the mainland.

China’s Bitcoin ban a “strategic blunder”

“Absolutely,” Daniel Lacalle, chief economist of Tressis, told Cointelegraph.

“Beijing’s 2021 mining crackdown was a strategic blunder,” Emiliano Pagnotta, associate professor of finance at Singapore Management University, told Cointelegraph.

China wants to maintain tight control of capital outflows on the mainland, Wang, assistant professor in the economics department at the University of Essex, told Cointelegraph, which is why it banned crypto trading.

But Hong Kong, while controlled by China, has a different economy. It has always had open market policies and free capital flow, and crypto might find a natural home in the former British colony. Wang added:

“Hong Kong serves as the hub to allow some capital flow in and out of mainland China, which is important for Hong Kong and also for mainland China.”

“The digital asset ETF market in Hong Kong has indeed seen substantial growth since its launch in April 2024,” Patrick Pan, chairman and CEO of OSL — a crypto-exchange now operating in Hong Kong — told Cointelegraph.

Pan added that mainland China “has maintained a stringent stance against cryptocurrency trading and speculations.”

Pan points out, however, that China has largely accepted the importance of cryptocurrencies’ underlying blockchain technology.

“China’s development and gradual rollout of the digital yuan showcase an interest and capacity to embrace blockchain technologies, which bring long-term benefits to the country’s financial infrastructure through enhanced efficiency and security of its financial systems,” said Pan.

China may be softening its stance on crypto
Chinese government decision-making is opaque, so one may never know if China truly regrets its 2021 crypto ban. But what is clear is that “the country is reassessing its approach, especially as it sees the strategic value in digital assets,” Zennon Kapron, founder and director of consulting firm Kapronasia, told Cointelegraph, adding:

“The softening stance in Hong Kong could be a strategic move to remain competitive in the fintech and digital finance space without fully reversing its mainland policy.”

But is it too late?

“China still has advantages, such as access to cheap hardware and electricity in certain regions,” Kapron allowed. “If the government were to provide incentives or loosen restrictions, it’s conceivable that some level of dominance could be reestablished.”

It wouldn’t be easy, though. “The global mining landscape has become more diversified, making it harder for any single country to dominate,” observed Kapron.

“Bitcoin mining is not like making CPUs, but more similar to producing solar panels, building railways, etc. China has the capacity and even the comparative advantage in this type of mass production.”

Crypto trading may be a different matter, though. China is unlikely to change its trading ban on the mainland unless it first changes its capital markets policy, said Wang.

Pagnotta, by comparison, said China could still be a force within the crypto sector, particularly if it demonstrates more pragmatism and regulatory clarity.

“China now seems more open to the crypto industry and has allowed the launch of Bitcoin and ETH ETFs in Hong Kong,” said Moreno.

“Despite China’s ban on Bitcoin mining, Chinese mining pools still hold nearly 54% market share,” CryptoQuant founder Ki Young Ju posted on July 1. “While not all participants in these pools are Chinese, some mining farms might still be operating covertly in China, with authorities possibly concealing data.”

China’s central government also remains a Bitcoin “whale” as a result of its past activities — holding 190,000 BTC, or about 1% of the Bitcoin currently in existence. This is not a trivial amount.

Could China dominate crypto again?
Wang, for his part, believes that if China really sets its mind to it, it could still “play a super important, if not dominating, role” in the global crypto sector.

Not only does it have natural advantages, but there is a huge demand for using cryptocurrencies to send Chinese assets abroad, Wang added, especially given China’s tight capital market controls.

The biggest cryptocurrency exchange platform in the world in terms of trade volume is still Binance, “which is a company started in China by a Chinese but later moved abroad, and still 20% of Binance’s trade comes from China,” noted Wang.

As per Trump’s remarks, is crypto really emerging as a new theater of competition between the great powers? According to Pagnotta:

“Trump wants votes, and he understands that tens of millions of Americans hold digital assets and see it as an important electoral issue. Drawing a contrast to Biden or China in this regard is politically astute.”

“At a more profound level, Trump does not want a Chinese/BRICS [i.e, Brazil, Russia, India, China, South Africa]-led central bank digital currency [CBDC] to become dominant. Even if he did not suddenly become a genuine Bitcoiner, he surely comprehends enough game theory to realize that Bitcoin is the politically neutral global property rights system in the 21st century,” added Pagnotta

In doing so, the former US president could simply be applying the ancient wisdom that “the enemy of my enemy is my friend.”

Still, others believe the suggestion that China may once again try to gain dominance in the global crypto market is just plain wrong. Leading cryptocurrencies like Bitcoin and Ether are too diversified and decentralized now to allow control by any one sovereign state.

“China’s influence in the crypto market may grow, particularly through initiatives like the digital yuan,” said Kapron, “but achieving dominance over decentralized cryptocurrencies is a different challenge altogether.”

Trump’s recent utterances may reflect a strategic concern, continued Kapron, “but the reality is that the decentralized and diversified nature of these digital assets acts as a significant barrier to dominance by any single nation.”

Added economist Lacalle:
“There is no such thing as nationalist crypto. The beauty of the crypto market is that it is completely diversified and decentralized. The concept of government control of crypto makes no sense to anyone that understands independent currencies.”

@ Newshounds News™

Read more:  COIN TELEGRAPH

~~~~~~~~~

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Tuesday Evening Chat With MarkZ 7-23-2024

PDK Note:  I only transcribe RV/Financial news and intel. Not political opinions or most guests on this podcast.    If a podcast is mostly political…I may not post at all. Thank you

Tuesday Evening Chat With MarkZ

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: Hello Mark MODS and Everyone

Member: Have to ask….Are we there yet??? Lol

MZ: “After 20 years is Iraq making progress to join the WTO?”  Well we are hearing this is sqared away and there should be an announcement in the next day or two. This is part of what we are getting rumor-wise right now.

MZ: What we know for a fact from folks on both the US side and the Iraqi side…..,is that there are very “top secret” meetings occurring right now in Wash D.C. with Iraqi folks about the removal of US troops and security units in Iraq.  This is one of the key things we were told to watch and it is occurring right now in D.C.

MZ: And news from the WTO is it’s a “wrap” …and they are keeping it under wraps.

MZ: And if 1/10th of the bond rumors I am hearing today are accurate…..then people all over the world are starting to see spendable dollars. The question is – are the rumors accurate or not?

MZ: I am hearing this from so many different sides now that it makes me feel warm and fuzzy. But we still can’t go to the bank yet…..so please stay calm and grounded when you hear this news. I can only imagine how nuts the dinar boards are right now.

MZ: But, until we get the notice that is good to go…and we get to go to the banks….stay calm. But I can tell you this bond chatter is through the roof with rumors of dollars moving ect…..

Member: how long will we have to exchange...

Member: We were told about 10 days to make appointments and at least 30 days to exchange.

MZ: “Trial starts for Vietnam Tycoon in $146 million graft case” They are going hard after anybody with graft and corruption. Mostly millionaires and billionaires. Is this Vietnams way of collecting money from private individuals or are they cleaning things up before the reset?  I don’t know what to tell you on this…yet. That we are seeing this tells me Vietnam is preparing for something. I suspect they are preparing for an RV.

Member: Was at a salon getting a pedicure-The owner John is from Vietnam. He mentioned lots of things happening in his native country….Lots of corrupt politicians getting ousted and arrested.

MZ: That makes me feel better.

MZ: The bigger news is “China sells 68% of US Treasuries –Wha’ts next?”  This is a great one by fastepo who details all the countries unloading their treasuries.  What does that do? It brings them all home…all of that fiat money rushing back to the US.  

Member: That just could crash the system…….fingers crossed.

Member: Mark - bank story. Small-town, n.e. TN. Went to a bank in Walmart to repair torn $20. Said to teller, "They don't make money like they used to." She said, "New currency is sturdier!" She's held it!

Member: Bank story from another channel last night. A lady went to a WF bank in Texas and the bank manager gave her the time and rate. He had to turn away from the camera while talking to her.

MZ: I like that story…I am looking forward to call this a wrap.

Member: I want to know the time and rate!!   So wonder -what was it?

Member: is this ever going to happen???

Member: I think instead of complaining , we need to consider Thanking God for our Blessings. Let's try to encourage each other, we're all going thru this together.

Member: Keep those thought positive.

Meber: THANKS MARK, MODS AND EVERYONE AND HAVE A BLESSED NIGHT

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

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/

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

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!

Youtube:     https://www.youtube.com/watch?v=UTsXo2pcwKk

Economist’s “News and Views” Tuesday 7-23-2024

As U.S. Debt Hits Historic Levels, How Close Are We to a Complete System Failure?

Daniela Cambone: 7-23-2024

The U.S. deficit will become worrisome if tax revenue collected by the government falls far short of, or gets too close to, the debt service, claims Joel Litman, President and CEO of Valens Research.

 However, he remains optimistic about the overall U.S. economy. “U.S. assets are easily 50 trillion at the lowest end, probably closer to 100 trillion.

 The U.S. government is still the biggest landowner of U.S. land in the United States,” he states.

Furthermore, Litman provides a clear and informed perspective on why the U.S. remains financially resilient and what measures could ensure continued economic stability.

Don't miss this insightful analysis that challenges common alarmist views and offers a deeper understanding of national debt dynamics.

CHAPTERS:

00:00 US debt

 5:52 The breaking point of US debt

7:53 Servicing the debt

11:04 Warren Buffet ends deficit in 5 minutes

 16:01 Diminishing purchasing power

 17:52 Real estate

https://www.youtube.com/watch?v=2PO01EuI_ik

China Sell 68% of its US Treasury: What's next?

Fastepo:  7-23-2024

The general U.S. perspective of US treasury emphasizes the security and reliability of Treasury securities. Critics, however, point to different aspects.

 They often argue that the massive issuance of U.S. Treasuries is a reflection of the significant national debt, which stood at approximately $34.9 trillion as of July 2024.

They argue that this growing debt could pose long-term economic risks, including potential inflation and increased borrowing costs.

Additionally, they highlight the dependency of the U.S. on foreign investment, particularly from countries like China and Japan, which hold large amounts of U.S. debt—around $1.15 trillion and $1.1 trillion, respectively, as of early 2024.

https://www.youtube.com/watch?v=GcSk0AtWu2w

As Washington Threatens To Shutdown China Banks, Beijing Sells Record $79.7B In US Debt & Stocks

Sean Foo:  7-23-2024

Jake Sullivan, the US NSA advisor, just warned Chinese banks. This threat is a dangerous one and risks upsetting the global economy.

Trade could be severely disrupted and supply chains broken. Meanwhile, China understands the risk and a recent report confirms they are exiting dollar assets in a big way.

They sold $79.7 Billion of US assets from January to May this year, a new record.

Timestamps & Chapters:

0:00 Sullivan Targets China Banks

 2:43 China Fleeing US Assets

5:55 Feeding Into Further De-Dollarization

7:51 Sponsor: Indigo Precious Metals

9:15 Risking China Anti-USD Trade

10:27 Disastrous China Tariff Risk

 13:29 China Has No Choice

https://www.youtube.com/watch?v=pX3SDYSRNLY

More News, Rumors and Opinions Tuesday Afternoon 7-23-2024

KTFA:

Clare:  A high-ranking security delegation arrives in Washington to hold a round of talks to end the coalition's mission

7/23/2024

Defense Minister Thabet Mohammed Saeed Al Abbasi arrived at the head of the Iraqi delegation on an official visit to the United States of America.

The Iraqi security delegation will hold the second round of talks to end the international coalition's mission in Iraq.

Four Iraqi sources told Reuters that Iraq wants the international coalition forces to begin withdrawing from September and to officially end the coalition's work by September 2025,and indicated "the possibility of some American forces remaining in an advisory capacity that was recently negotiated."

Meanwhile, American officials said that "the Iraqi position will be discussed with American officials in Washington this week at a security summit," adding that "there is no official agreement to end the coalition or any timetable associated with it yet."  LINK

 Clare:  International Development Bank announces the opening of a bank deposit account 

7/23/2024  Baghdad

The International Development Bank announced today, Tuesday, the opening of a deposit account (investment, term) to serve the Iraqi family.

The bank stated in a statement that "based on our belief in providing the best banking services to the bank's customers and employing the accumulated cash mass in the service of the national economy, the International Development Bank for Investment continues to open deposit accounts according to the customers' requirements in terms of the duration of the link."

He added, "These accounts provide financial returns of up to 10% annually, paid monthly from the value of the deposit, in addition to entering the monthly draw, which includes valuable cash prizes."

He stressed that "the owner of the investment deposit receives free life insurance and facilities when wishing to obtain a loan guaranteed by the deposit, as well as a credit card provided free of charge to the account holder."

The bank explained that "the funds will be invested to serve the country and will be safe and guaranteed by the Iraqi Deposit Insurance Company, which is authorized by the Central Bank of Iraq, in addition to the benefits that the owner of this account will receive, which represents a product that is in harmony with the needs of the Iraqi family seeking to invest its money in the appropriate and safe place and benefit from generous monthly returns that raise the standard of living."  LINK

************

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

Frank26  Question: "If the rate is $3.22 and you go to the bank and exchange a 25,000 note in American dollars how much will that be?"  $3.22 times 25,000 friend. 

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
My bank guy did say dropping the zeros does not change the value.  FRANK:  He's right.  Because it's going to be 1 to 1 with the American dollar.  It doesn't effect it inside.  It will effect it outside.  No it will not change it.  When it floats it will change it.  FIREFLY: Poor countries with terrible inflation, they drop [zeros] in order to lop.  We are not like that.  We drop to add value.  It's all inflation based. [Post 1 of 2....stay tuned]

Frank26   [Iraq boots-on-the-ground report]    FRANK: Yes, you drop to add value inside of your country...They wanted to be at least 1 to 1 with the American dollar in order to add this value to your currency.  That's why he means that dropping the zeros won't add value to your currency...Then your currency will float on the International market and the value of your currency goes up outside your country as well.  Inside, it will go from 1320 to at least 1 American dollar in order to add value which is purchasing power...If it was a lop they would be adding zeros.  [Post 2 of 2]

80% Of Banks 'Going Down’; $9 Trillion Of Debt Due Soon | Christopher Whalen

David Lin :  7-23-2024

Christopher Whalen, Chairman of Whalen Global Advisors, discusses the risks to the banking sector, opportunities for investors, market outlook, and current labor market conditions.

0:00 – Intro

 1:00 - Market outlook

2:50 - Banking sector

6:50 - Liquidity issues

8:30 - Commercial real estate

 9:50 - Debt maturing

13:20 – Unemployment

 15:27 - Housing affordability

18:00 - Inflation outlook

20:15 - Liquidity crisis?

22:00 - De-dollarisation

 26:10 - Fed policy

 30:55 - Fiscal policies

32:10 - Tariffs

34:54 - Risk-on sentiment

36:00 - Banking consolidation

40:30 - DeFi and crypto

https://www.youtube.com/watch?v=EJJ6WjxPG4E

When’s The Right Time To Turn Off The Tap?

Nearly half of young Americans rely on the bank of Mom and Dad to get by — When’s The Right Time To Turn Off The Tap?

Chris Clark  Mon, July 22, 2024   Moneywise

A new report from Bank of America suggests Gen Zers are relying on financial help from Mom and Dad — a “parent trap” that raises big questions about financial independence and the long-term impacts on their parents’ financial health, particularly their retirement savings.

The study found that 46% of adult Gen Z-ers rely on financial help from their parents, ranging from covering everyday expenses to helping with significant financial commitments such as rent, mortgage payments and other debt repayments.

About one in four respondents to BoA’s study said housing expenses were a chief barrier to financial independence, and over half said they do not pay for their housing.

Rising costs of living, inflation, student loan debt and economic instability have made it increasingly difficult for young adults to achieve financial independence. The COVID-19 pandemic exacerbated these issues, leading to job losses and reduced income that disproportionately affected younger workers.

The Bank of America study highlights a significant trend of young adults relying on their parents, but it’s essential for parents to recognize the long-term risks. By setting clear boundaries, providing financial education and gradually reducing support, parents can help their children become financially independent while safeguarding their own futures.

Risks to parents

While providing financial assistance to adult children can be a way for parents to show support and ensure their children’s well-being, it comes with significant risks, chiefly the impact on the parents’ own financial security and leaving their children unprepared to handle their own finances.

Financial expert Suze Orman warns that continuing to support adult children can severely compromise parents’ ability to retire comfortably. Orman argues parents often underestimate the long-term financial implications of this support, which can reduce their own savings when they need it the most.

Impact on retirement savings

Parents who use their retirement savings to support their adult children may find themselves in a precarious financial situation. Some parents are still supporting their children well into their 40s, delaying their own retirement and putting their financial future at risk. This prolonged financial support can lead to parents working longer than planned or significantly adjusting their retirement lifestyle to accommodate the shortfall in savings.

TO READ MORE:  https://www.yahoo.com/news/finance/news/nearly-half-young-americans-rely-142500016.html

“Coffee With MarkZ” Tuesday Morning Chat 7-23-2024

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: Welcome to Terrific Tuesday everyone

Member: I know we were told things would get crazy toward the end, but seriously?

Member: Change is the only constant in life. Your ability to adapt to those changes will determine your success in life.

Member: Any RV news today?

MZ: Some interesting historic bond stuff. I am hearing comforting things from the bond side and this is coming from many sources….that historic paperwork –especially on the Asian bonds was sent to the Hague.

MZ: I am also hearing the only reason the RV did not go over the weekend was fights over the value of some old German bonds. But things are now “unstuck” and seems to be moving much quicker now that the current administration is no longer delaying things . They are too preoccupied to keep slowing and stopping things right now.

Member:  ​​those bond guys are getting tortured........just like us

MZ: In Iraq It’s been quiet over the weekend. Groups are very quiet and nothing from CMKX.

Member: I wonder if Iraq is quiet is because it's all done and nothing else to report?

MZ: Yes… I very much think they have done everything they needed to do….and they are waiting on us…

Member: could Iraq still go first and alone?

MZ: I am still being told they all go at one time.

Member: besides Dinar, Bolivar, dong and Rupiah, what other currencies are going at one time?

Member: I would say Zim and maybe the Iranian rial?

Member: List I had saved from last year: Might be changes since then…..: 1. US 2. UK 3. Kuwait 4. Canada 5. Mexico 6. Russia 7. China 8. Venezuela 9. Iranian Rial 10. IRAQ 11. Indonesia Rupiah 12. Malaysia 13. Vietnamese 14. Brazil 15. Saudi Arabia 16. Qatar 17. United Arab Emirates 18. Turkey 19. Afghanistan possibly20. India 21. Libya 22. Japan23. Zimbabwe (current currency

Member: 1st basket goes all at once? Other currencies will go when the countries are ready… 2nd basket etc will trickle out when they are ready, correct?

Member: ​​Many in the Iraqi parlimant dont want the RV according to Frank

Member: Rumors that Iraq will have a new Speaker of the House today or Thursday

Member: The debt clock is showing the Federal Reserve is "creating" $8300/second out of thin air...

Member: Mark: is tier 4B getting closer?

Member: if bonds go….we in 4b should be hours or a few short days behind them.

​​Member: Digital 1st, this weekend, then currencies  backed by Digital gold, then currencies RV. That's my take. Once RV of crypto and exchange as gold backed, then no taxes, precious metals not taxed.

Member: This week into the weekend would be awesome! Let's do it!

Member: Timing is relative people remember that so be patient and prepared

Member: Could the RV still happen this month?

Member: B prepared to have to wait until after the elections……just imo…..but makes sense.

MZ: I am still hearing July is very much still in play.

Member: will we still have the rumored 10 days of darkeness?

MZ: No part of me thinks there will be 10 days of darkness. But they could possibly take control of social media. There may be temporary outages in certain towns while they clean things up….but everything will not be out for 10 solid days….That is what I was told from the beginning from people who should know…..

Member: Mark, my military intel contact is warning of an EVENT tomorrow the 24th

Member: Mark, is there anything that we may say or do during our appointments to screw our selves up?

Member: May you all have an honestly amazing day!

Member: The best is yet to come.

StacieZ joins the stream today. Please listen to the replay for her information.

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

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

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

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

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

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Youtube:     https://www.youtube.com/watch?v=dhb3w37b2fg