“Coffee With MarkZ” Thursday Morning Chat 8-15-2024

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 the never ending Groundhog day.

Member: Well, even Bill Murry eventually gets a happy ending…..we will too

Member: Wish we knew for sure something was really happening. This “behind the scenes stuff” sucks.

Member: Today is the anniversary of when Nixon took the US off the Gold standard. 8-15-1971

Member: Maybe it’s a good day for the US to go back on the gold standard???

Member: We may be waiting for after the elections for that …imo

Member: Any good RV news today Mark?

MZ: Well the hopium everywhere is off the charts

Member: Hopium up just like the DOW 362

Member: I don’t listen to any hopium anymore! Hope deferred makes the heart sick! No wonder so many are in a bad emotional way!

MZ: Someone shared this with me…a great breakdown from your own Government ” The Pigford Cases- USDA Settlement of discrimination suits by black farmers” This is a summary of the this settlement case …I will include the link in todays links ……This is where we are seeing movement.

https://nationalaglawcenter.org/wp-content/uploads/assets/crs/RS20430.pdf

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

MZ: I was told from day one that these settlements are part of the farm claims process…and on the heels of those will be CMKX. That we are seeing movement on the farm claims makes me feel warm and fuzzy.   This is probably the best news in the last couple of weeks.

Member: How many of your farm claims contacts have disappeared?

MZ: Three of my 14 contacts have disappeared. I know that some have received substantial funds that magically and mysteriously appeared in their bank accounts with no explanation…no restrictions.

Member: I cannot wait until we all get up and find money in our banks. It can happen

MZ: The bond side remains quiet…I am still looking for someone I know personally to confirm they have money. There are lots of folks saying they know people secondhand that have funds…..but none I know personally.  But I won’t get excited until someone I know in real life tells me this.

MZ: The group side is also quiet….lots of circletel….lots of rumors….nothing I would call ‘reputable”

Member: BANK story. My 84 yo mom went to the bank to get checks printed & they would only give her 10. She said hopefully this will last until the RV. The lady just nodded and smiled

Member: Teller at Wells Fargo on Monday, when I asked her if she was excited about her QFS Account said "Yes! We have had a lot of training on those."

Member: Big Rumor…..All U.S. banks have been purchased by the New U.S. Treasury (which has relocated from Washington D.C. to the Sparks Indian Colony near Reno, Nevada) why Indian land? Sovereign non Corporation soil

Member: In Iraq: Cant help but think CBI training their employees on FX is highly relevant. Who trains their personnel on something they wouldnt want implemented immediately? You would have to train them twice.

Member: Any word on the HCL in Iraq?

MZ: It is still back in the Parliamentary committee to rewrite a few of the paragraphs…then it will go to parliament….which could be any day…..  When it is approved you won’t have to ask…I will be screaming it out…..

 MZ: “ A retail Apocalypse is gaining momentum all over America. Is your favorite chain closing stores?” I have been talking about this for days…and “US Living Standards in grave danger” Anyone who says differently is lying to you

Member: I absolutely believe that the RV is ready to go, they are just taking it to whatever point they plan on flipping the switch

Member: You have no control over the hand that life deals you, but how you play that hand is entirely up to you.

Member: Wishing all MarkZ's Mods a fantastic day!!!! Thank you for all you do.

Member: Have a blessed day everyone.

Be sure to listen to replay for all of MarkZ’s guests…

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!

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

Youtube:     https://www.youtube.com/watch?v=PZR1IU_v8h0

Iraq Economic News and Points To Ponder Thursday AM 8-15-25

With "Corruption And Fraud" Operations... The Secrets Of Smuggling The Dollar And Withdrawing It From Dubai Via Electronic Cards
 
Source:  Alsumaria News   3,394 views   Alsumaria News – Economy  Today, Wednesday, August 14, 2024, political analyst Rafid Al-Atwani criticized the banks in Iraq, especially the private ones, as a result of the indicators of corruption and the operations of dollar smuggling abroad that are taking place around them, while he stressed that the Iraqi banks are “unsound” and trade in dollars and do not provide services to the Iraqi citizen.
 
Al-Atwani said in an interview with Al-Sumaria News that the bank’s general reputation in Iraq, especially the civil society, is “very bad” and it is accused of corruption.
 
Indeed, there are indications of the existence of real corruption, as evidenced by the sanctions imposed on more than 15 banks.

It is revealed that the dollar issued by the Central Bank of Iraq is under the command of Jordanian and Qatari banks, according to the testimony of many members of the House of Representatives.
 
The evidence for this is that when the government of Muhammad Shiaa al-Sudani was formed, the two sides (the Federal and Iraqi Central Bank) agreed that the process of exporting or purchasing goods (most of them) would be Money laundering) via the SWIFT platform, which all countries operate on, and
 
it is a solid and sound organization that monitors the movement of the dollar and prevents the money laundering process that harms global trade,
 
but after more than a year it became clear that these banks do not practice these procedures and intend to launder money in agreement with merchants and also smuggle currency. Via the direct dollar selling window.
 
He points out that 90% of the dollar that leaves the Central Bank of Iraq goes to the export process,
 
but the amount of import does not equal more than 30% actually inside the market, meaning that there is more than 60% of this money being smuggled or returned by money laundering.
 
These indicators, according to Al-Atwani, indicate that the Iraqi banks and the management of the Central Bank are “unsound” and did not benefit the Iraqi state.
 
On the contrary, we did not control the exchange of the dollar against the Iraqi dinar, indicating that it is more than a bank affiliated with political figures or those on their behalf..
 The political analyst explains that this scene gives an indication that Iraqi banks are unsound and trade in dollars, and there are no banks that provide services to the Iraqi citizen such as advances and commercial loans.
 
There is also nepotism in dealing with loans and favoritism for influential political figures, and  
the biggest victim is the Iraqi people, the value of the Iraqi dinar, and also Iraq’s foreign reputation.
 
He added that, according to a statement by a member of the Finance Committee, the profit of Jordanian banks as a result of this corruption from the process of recycling the dollar is more than a million dollars per day.

While an informed source told Al-Sumaria News, “One of the banks that is operating and is not being punished withdraws the dollar via electronic devices at the official price in Dubai, and it is transferred to Iraq to be sold in the market at the parallel price.”    https://www.alsumaria.tv/news/economy/497061/بعمليات-فساد-وتحايل-خفايا-تهريب-الدولار-وسحبه-من-دبي-عبر-البطاقات-الال

An Electronic Platform For Managing Customer Complaints Of Financial Institutions  
Economical 08/15/2024  Baghdad: Al-Sabah  Yesterday, Wednesday, the Central Bank of Iraq (Financial Inclusion Department) announced the establishment of an electronic platform to manage complaints from customers of financial institutions.
 
The bank said in a statement that it “seeks to automate the work of the financial sector, reduce reputational risks, and enhance trust between all financial institutions and the public.
 
In this regard, it has created an electronic complaints management platform whose work is to automate financial institutions’ receipt of public complaints via the complaint form link, and manage their treatment under the supervision of the bank.” “Central.”  

 He explained that “the response time for a complaint filed against financial institutions on the platform takes between one and five working days, determined by the Central Bank of Iraq through the system for each complaint based on its nature and the importance of addressing it,

 and in the event that the financial institutions do not respond to the complaint addressed to them through the system in At the specified time, a fine of (100,000 Iraqi dinars) will be imposed for each complaint for every single day of delay.” 

He explained,  “This came in order to develop the performance of institutional work and simplify government procedures by shifting to digital transactions, and for regulatory objectives that are consistent with the Central Bank of Iraq Law No. (56) of (2004) as the sectoral body supervising the work of all licensed financial institutions, and in view of the continuous development that

“This is being witnessed by the electronic financial industry, and because of its great importance in achieving economic growth, financial stability, and enhancing levels of financial inclusion.”   
 
https://alsabaah.iq/101133-.html  

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

6 Mistakes People Make at the Bank During a Recession

I’m a Banking Expert: 6 Mistakes People Make at the Bank During a Recession

J. Arky  Tue, August 13, 2024   GOBankingRates

Economic ups and downs still have lots of people worried about a potential recession. During times of downturn, many people become hyper-focused on the markets, jobs and their own personal finances tied up in banks.

While there might be some desire to move money around or take it out of financial institutions altogether, that could actually end up doing more harm than good on both a macro and micro level.

GOBankingRates reached out to banking experts to understand the six mistakes that people make at the bank during a recession. Here is what we found out below, and you can also check out why a recession is worse for your wallet than inflation.

Failing To Review Your Financial Goals

Just because there is a recession does not mean you don’t have financial goals, nor any way of working on achieving them. Do not lose sight of your future when it comes to your money.

“One of the most common yet frequently overlooked mistakes during a recession is not re-evaluating your financial goals,” said Adam Garcia, founder of The Stock Dork. “Most people will carry on saving, spending as well as investing just like they were used to before the economy went down.”

He continued, “However, it is better to be cautious in times like these. Review your financial plan by focusing on liquidity and debt reduction rather than aggressive growth or luxury purchases if possible. This should ensure you are grounded and do not go through tough times when sources of income become unpredictable.”

Not Having a Safety Net for Your Account

Running your account into the red can be dangerous, particularly during a recession.

“Overdrafting an account might seem like a small error, but during a recession it can have severe consequences,” Garcia explained. “If you overdraw often enough, those fees add up quickly and may hurt your credit score thus making it hard for you to get loans or credit cards when they would be most useful to you.

“To avoid this scenario, consider putting aside a small emergency cushion in checking or linking it to a savings account for automatic transfer purposes. In case of overdrawing, call your bank immediately so that you could tell them what landed you in such a position. Many banks offer courtesy fee waivers if it’s a rare occurrence or due to an exceptional circumstance,” suggested Garcia.

Failing To Recognize Interest Rate Changes

During times of economic turmoil, interest rates can change. If you have a loan or credit card connected to your bank, not taking note of these fluctuations can put you in dire financial straits.

“Central banks usually adjust interest rates during recessions leading to fluctuations that affect savings and loan repayments directly. Therefore, one of the mistakes that people make is not paying attention to these changes,” Garcia said.

“If interest rates drop, it might be an excellent opportunity to refinance high-interest loans or mortgages,” he added. “Conversely, if you notice interest rates rising, you should consider locking in lower rates for savings accounts or certificates of deposit (CDs). Taking the initiative regarding interest rates can save you a lot in the long run.”

Stopping Automatic Payments

Money tends to become tight during a recession, but nevertheless, there are bills to pay. If you have automatic payments turned off, consider turning them back on again.

To Read More:  https://www.yahoo.com/finance/news/m-banking-expert-6-mistakes-143116946.html

News, Rumors and Opinions Thursday AM 8-15-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 15 Aug. 2024

Compiled Thurs. 15 Aug. 2024 12:01 am EST by Judy Byington

Wed. 14 Aug. 2024 Possible Timing, David Wilcock

There will be a EBS message sent over phones, TV and radio around the Globe saying that in the next five hours or so, everyone needed to be home for a global lockdown that would last 10 to 12 days.

NESARA will be announced to the world, which will show that EVERYTHING NEW is beginning.

Then through the EBS, they will show documentaries of everything that has happened to wake up the masses.

At the end of the 12 days, they will give out an 800 number for individuals to call to obtain an appointment to set up your Quantum money account on the new Starlink Satellite System.

There were 75 Deep State Banks that were seized and all assets and accounts closed. All the Cabal’s Central Banks have been taken over, with assets entered into the Quantum Financial System (QFS).

The QFS is run on Blockchain where nothing fraudulent can happen because everything is traceable. They can see where all money goes, which stops corruption in its tracks.

Apparently all people have a sum of money in an individual Quantum Financial Account.

The seized assets of the Cabal were moved to those Quantum Financial Accounts of The People. All monies in trust funds were moved to individual QFS accounts. All our bank accounts, savings accounts and retirement accounts were safe in the new Quantum System.

The only monies not reflected in individual Quantum Accounts were investments and shares on the Stock Market. All that will be gone! It is advised to get out of the Stock Market immediately.

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Global Currency Reset:

Judy Note: It is my personal opinion, and I could very easily be wrong, that Tier4b (us, the Internet Group) will be notified to set redemption/exchange appointments sometime after Project Odin and the Military takeover begins on Mon. 19 Aug. 2024.

Wed. 14 Aug. Wolverine: “Things are happening that are confidential and I cannot discuss, but I hope to have absolutely great news for you tomorrow.”

Wed. 14 Aug. MarkZ: “Not only were the Pickford claims (black farmers) being paid out, but also the other Farm Claims have started paying out – in the billions, along with the R&R payouts” (which were assumed to be going into our QFS Accounts).

Tues. 13 Aug. 2024 Bruce: Farm claims began with black farmers being paid out on Thurs. 8 Aug. Tier4b (Us, the Internet Group)was in a seven day window to receive notification to set redemption/ exchange appointments that ran from Wed. 14 Aug. to Wed. 21 Aug, with exchange appointments to start on Mon. 19 Aug. Debt forgiveness reimbursement that zeroed out mortgages started Sun. 11 Aug. and ended Sat. 24 Aug., with credit cards wiped out of debt by Sat. 31 Aug.

Tues. 13 Aug. 2024 Mike Bara: “I have been given a date of Wed. 21 Aug. for the revaluation of the Iraqi dinar. The bond holder remains excited about the possibility he will get paid today.”

Tues. 13 Aug. “A Banker indicated that many positive items are pointing to Thurs. 15 Aug. 2024.”

Tues. 13 Aug. 2024: RV/GCR and EBS Disclosure: The Global Financial Armageddon and the Collapse of Nine Nations – The Impending EBS Disclosure and Market Crash – amg-news.com – American Media Group

Tues. 13 Aug. 2024 BRICS Destroying US Monetary System, Leading World to Gold: https://rumble.com/v5atid8-brics-is-destroying-the-u.s.-monetary-system-and-leading-the-world-to-gold.html

Read full post here:  https://dinarchronicles.com/2024/08/15/restored-republic-via-a-gcr-update-as-of-august-15-2024/

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

Bruce  [via WiserNow]  ...from the latest info that we received last night was that that we are in basically a seven day window...we got it last night that said Wednesday to Wednesday...we've also heard from another call...that was with the financial advisors, bankers and so on, that there was a consensus...that we would be notified over the weekend and then start exchanges on Monday. So the 19th...Let’s Hope that is true... This thing is right here, right there, where we can go anytime, yes, and we'll see if the Wednesday  window holds up, or if we get surprised, and maybe it goes soon...

SkyWalker  There seems to be some confusion...when it comes to the delete the zeros program. Value of the Iraqi dinar starts in country by government policies, CBI reserves, oil production, investments by the Iraqi government, output of the economy, and so on. Value is currently represented by the three zeros printed on the currency. An exchange is a ratio of two currencies which is used outside the borders of a country. Therefore, when value is added to the Iraqi dinar first by the CBI in country the three zero notes will be physically removed from circulation. In their place the CBI will release the lower notes with added value...Lastly, the exchange rate of the Iraqi dinar compared to other currencies will reflect the added value to the Iraqi dinar. So, it is not about the zeros coming off the exchange but the three zero notes being no longer used...

US Sanctions on Iraq! Is This Why the IQD RV Has NOT Happened?

Edu Matrix:  8-15-2024

US Sanctions on Iraq! Is This Why the IQD RV Has NOT Happened? We don't believe sanctions have anything to do with the delay in the IQD. However, we could be wrong.

https://www.youtube.com/watch?v=_rESeAV0gfY

BRICS Gold Rush & Election: Precious Metal Shortages Ahead | Andy Schectman

Liberty and Finance:  8-14-2024

Andy Schectman, president and CEO of Miles Franklin, examines the implications of the BRICS nations' growing interest in gold and how it might impact the precious metals market.

 He notes that the BRICS countries are increasingly investing in gold as a hedge against dollar devaluation, which could signal a shift toward a more gold-centric financial system.

INTERVIEW TIMELINE:

0:00 Intro

2:00 Risks to the US grid

10:46 Precious metals fundamentals

15:33 Financial risks

https://www.youtube.com/watch?v=JyRzL6ADXCg

“Tidbits From TNT” Thursday Morning 8-15-2024

TNT:

Tishwash:  With an increase in recent months.. Iraq's internal debt exceeds 78 trillion dinars - Urgent

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that Iraq's internal debt exceeds 78 trillion dinars, with an increase in recent months.

Saleh said in a statement to (Al-Rabia) that "Iraq's move towards borrowing from the domestic banking market to finance two waves of the general budget deficit came under the influence of the decline in the oil assets cycle and in two different periods during the current decade. The first wave of borrowing, which amounted to nearly 27 trillion dinars, was financed by the government banking system through purchasing treasury transfers during the intensification of the security crisis (the entry of the terrorist ISIS) between the years 2014-2017."

He added that "the International Monetary Fund estimated at that time the current account deficit gap of the balance of payments due to the decline in oil prices to be no less than 18 billion dollars cumulatively during those years, and the second wave occurred between the years 2020 and 2021, that is, during the health crisis with the spread of Corona and the closure of the global economy, which was accompanied by a decline in oil prices and a decline in budget revenues and the loss of more than 40% of the value of the oil barrel

While the legislation of the general budget law for the fiscal year 2020 was absent and was replaced by three legislations to finance the deficit, two of which were for direct domestic borrowing and two separate laws issued by the House of Representatives, that by heading towards the domestic borrowing market and the other is the Food Security and Development Law, and an important aspect of it was based on domestic borrowing as well, which raised the level of domestic debt to exceed the barrier of 78 trillion dinars."  link

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Harambe:  Telegram: A major cyberattack has targeted the Central Bank of Iran (CBI) and several other banks …

Telegram Link

A major cyberattack has targeted the Central Bank of Iran (CBI) and several other banks, leading to widespread disruptions in the country’s banking system. Initial assessments indicate this could be one of the largest cyberattacks ever against Iranian state infrastructure.

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Harambe:  Cyberattack targets Central Bank of Iran 

#BREAKING A major cyberattack has targeted the Central Bank of Iran (CBI) and several other banks, leading to widespread disruptions in the country’s banking system, @IranIntl has learned. Initial assessments indicate this could be one of the largest cyberattacks ever against… Show more

https://m.jpost.com/breaking-news/article-814715

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Masoud Barzani calls for national wealth and wants to preserve it, but what is the story of the “committees of commitment”?

Today, Wednesday (August 14, 2024), the leader of the Coordination Framework, Saad Al-Saadi, revealed the results of the agreement between the framework and the leader of the Kurdistan Democratic Party, Masoud Barzani, regarding the oil smuggling file.

Al-Saadi told Baghdad Today, "Smuggling natural resources, including oil, in any country represents a drain on the economy, destruction of infrastructure, and loss of the rights of the people of all stripes. Therefore, the smuggling file must be stopped." 

He added, "During the visit of the President of the Kurdistan Democratic Party, Masoud Barzani, to the capital, Baghdad, and his meeting with the leaders of the framework, the issue of natural resources was actually raised within a broad agreement to preserve them as a national wealth."

He continued: "It was agreed to form committees whose mission is to oblige all parties to abide by the decisions of the Federal Court on the oil and gas file, in addition to the rest of the other agreements with Baghdad," adding: "We hope at the same time that there will be seriousness and credibility on the part of our brothers in the region in implementing the terms of the agreement." 

He pointed out that "the management of oil and other wealth by the central government and its institutions is within the context of the Iraqi constitution, and this will must be respected and adhered to because it will address many problems and provide greater protection for the national wealth."

The visit of the leader of the Kurdistan Democratic Party, Massoud Barzani, to Baghdad attracted attention because it came after six years of "estrangement" with the ruling political class in Iraq, which suggests that a remarkable development has occurred in the relationship between the Kurdistan Region and the central government.

Political circles believe that the aim of the visit is to crown the partial understandings that occurred recently and covered several files with a comprehensive settlement between the region and the centre.

Barzani's presence as a prominent Kurdish figure aims to lend legitimacy to the settlement and raise its value so that it appears to be an important event and not just a passing meeting, which is what the central government needs to confirm its ability to bring the region's leaders to its square, while the settlement reduces internal pressures on the region's officials, especially if he succeeds in ensuring smooth and continuous payment of salaries.  link

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Tishwash:  Parliamentary Finance Committee discusses with US Embassy the financial and banking system and the lack of dollars in the market

The Parliamentary Finance Committee confirmed, today, Tuesday, discussing the financial and banking system and the lack of the dollar in the Iraqi market with a delegation from the US Embassy in Baghdad.

A statement by the Parliament's media department received by / Today's News / stated that "the head of the Parliamentary Finance Committee, Atwan Al-Atwani, received at the committee headquarters, in the presence of Representative Khalil Al-Dawski, today, Wednesday, a delegation from the US Embassy in Baghdad, Minister Counselor for Economic and Trade Affairs Julie Jules, Deputy Counselor for Economic and Trade Affairs Angel Fintling, Macroeconomic Officer, Economic and Financial Section Michael Pinnell, and Economic Assistant/Economic Section, to discuss the financial and banking system in the country, Ammar Al-Ammar."

The statement continued, "The meeting discussed the financial and economic situation in the country and the repercussions of the parallel market issue and its negative impact on the government economically, in addition to the lack of the dollar currency in the market, and the sanctions imposed on some banks, as well as the issue of the electronic platform for exporting the currency."

The head of the committee stressed "the importance of high coordination between the two sides in order to solve the pending financial problems, in addition to the importance of transparent dealing to benefit from the capabilities, and not resorting to dealing in another currency," noting "the need to create an atmosphere of understanding and invest in building bilateral relations on this basis."

Al-Atwani stressed "the committee's keenness to commit to combating financial corruption and confronting money laundering, as they are the basis for building societies, in addition to coordination in order to make correct decisions in this regard."

For her part, the Minister Advisor for Economic and Trade Affairs said that "there is a real opportunity for cooperation and reform of the economic and financial system between the two sides," stressing "working together to find appropriate solutions to all problems for the stability of Iraq as a basic ally of the United States."

The statement noted "providing clarification on the three-year general budget and plans for banking regulation and reform of the spending process, and how to finance projects, in addition to the importance of supporting the private sector and involving it with the public sector, which confirms the importance of investing the revenues achieved and the possibility of providing the service."
According to the statement, Al-Atwani pointed out the "ambition to legislate a law on partnership between the public and private sectors and involve the private sector in the market, in addition to working to amend the tax law and shift from the paper system to the electronic system."  link

Mot: . All Too Soooon 

Mot:  Just Letting Yous Know!!!! 

Iraq Economic News and Points To Ponder Wednesday Evening 8-14-24

Parliamentary Finance Committee Discusses With US Embassy The Financial And Banking System And The Lack Of Dollars In The Market

Local | 06:19 - 08/14/2024  Mawazine News – Baghdad  The Parliamentary Finance Committee confirmed, on Tuesday, discussing the financial and banking system and the lack of the dollar in the Iraqi market with a delegation from the US Embassy in Baghdad.

A statement by the Parliament's media department received by Mawazine News stated that "the head of the Parliamentary Finance Committee, Atwan Al-Atwani, received at the committee headquarters, in the presence of Representative Khalil Al-Dawski, today, Wednesday, a delegation from the US Embassy in Baghdad, Minister Counselor for Economic and Trade Affairs Julie Jules, Deputy Counselor for Economic and Trade Affairs Angel Fintling, Macroeconomic Officer, Economic and Financial Section Michael Pinnell, and Economic Assistant/Economic Section, to discuss the financial and banking system in the country, Ammar Al-Ammar."

The statement continued, "The meeting discussed the financial and economic situation in the country and the repercussions of the parallel market issue and its negative impact on the government economically, in addition to the lack of the dollar currency in the market, and the sanctions imposed on some banks, as well as the issue of the electronic platform for exporting the currency.

The head of the committee stressed "the importance of high coordination between the two sides in order to solve the pending financial problems, in addition to the importance of transparent dealing to benefit from the capabilities, and not resorting to dealing in another currency," noting "the need to create an atmosphere of understanding and invest in building bilateral relations on this basis."

Al-Atwani stressed "the committee's keenness to commit to combating financial corruption and confronting money laundering, as they are the basis for building societies, in addition to coordination in order to make correct decisions in this regard."

For her part, the Minister Advisor for Economic and Trade Affairs said that "there is a real opportunity for cooperation and reform of the economic and financial system between the two sides," stressing "working together to find appropriate solutions to all problems for the stability of Iraq as a basic ally of the United States."

The statement noted "providing clarification on the three-year general budget and plans for banking regulation and reform of the spending process, and how to finance projects, in addition to the importance of supporting the private sector and involving it with the public sector, which confirms the importance of investing the revenues achieved and the possibility of providing the service."

According to the statement, Al-Atwani pointed out the "ambition to legislate a law on partnership between the public and private sectors and involve the private sector in the market, in addition to working to amend the tax law and shift from the paper system to the electronic system." https://www.mawazin.net/Details.aspx?jimare=253273

Banks Are Working To Keep The Exchange Rate High.. The Secrets Of The Dollar Crisis Against The Dinar

Buratha News Agency142 2024-08-13  Economic expert Omar Al-Halbousi confirmed that the crisis of the dinar exchange rate against the US dollar is due to many factors.

Al-Halbousi said in a press statement: “It is well known that the rise in the dollar exchange rate and the decline in the value of the Iraqi dinar have been ongoing for more than two years, and here we confirm that the value of the dollar is stable, but the value of the Iraqi dinar fluctuates between rise and fall, and most of the time it is a fall.”

He continued, "The rise and fall of the Iraqi dinar exchange rate against the dollar from time to time is due to several reasons, including the continuation of trade with the sanctioned countries, which requires financing from outside the platform by relying on the parallel market, which is the real controller of the exchange rate.

Until now, the Central Bank has no authority over it," noting that "there are countries that live on the dollar in Iraq in the absence of the role of the Central Bank to regulate the exchange rate and stop the currency bleeding, with the penetration of these countries through private banks that dominate the currency selling window."

He explained that "private banks also push for the exchange rate to remain high, as it benefits them. They have exploited the law of delivering dollar remittances to individuals and companies coming from abroad and delivering them to their owners in Iraqi dinars and at the official price, and then they sell the dollar at the parallel market price, which increases their profits.

Therefore, they are a stumbling block to the stability of the exchange rate and stopping the bleeding of the value of the Iraqi dinar."

He explained that "remittances and the currency sales window are monopolized by a few banks that control the exchange rate and manipulate it as they wish, which explains their achievement of imaginary profits from dollar remittances, which has begun to drain Iraqi oil revenues that finance the window, knowing that the volume of daily dollar sales is very suspicious and contradicts the volume of goods entering, which means the continued smuggling of dollars abroad, carried out by the banks controlling the window and remittances and with international collusion,

" noting that "the American sanctions and the continued threat of them are another reason for the continued decline in the value of the Iraqi dinar against the dollar with the inability of the Central Bank to solve the problem of sanctions with the American side,

as well as the inability to control the work of banks and control their fraudulent work that has caused Iraq problems with the Americans, in light of the continued smuggling of dollars in various ways practiced by banks owned by foreign countries."

The economic expert pointed out that "the government is still counting on the Central Bank and its management to control the exchange rate, which the Central Bank has not succeeded in, but rather has failed in all its steps with the arrogance of private banks and their control over the Central Bank with external support,

in addition to the influence of these banks within the Central Bank, which means that until now it has not found a solution to stop the decline in the value of the Iraqi dinar against the dollar, which will lead us into major problems in the coming days, especially if new American sanctions are imposed on Iraq,

 in addition to the rise in the geopolitical conflict in the region that casts its shadow on Iraq in a multi-faceted manner."   https://burathanews.com/arabic/economic/449618

Oil Prices Rise Amid Expectations Of A Decline In US Crude Inventories

Economy  08/14/2024  Mawazine News – Baghdad  Oil prices rose on expectations of a decline in US crude and gasoline inventories, as the market monitored the possibility of widening tensions in the Middle East that could limit global oil supplies.

Brent crude futures rose 30 cents on Wednesday (August 14, 2024) to $80.99 a barrel, while US West Texas Intermediate (WTI) crude futures rose 38 cents to $78.73.

Market sources, citing data from the American Petroleum Institute (API) on Tuesday, expected US crude and gasoline stocks to fall last week and distillate inventories to rise.

The API figures showed crude inventories fell by 5.21 million barrels in the week to Aug. 9, the sources said, speaking on condition of anonymity.

Gasoline stocks fell by 3.69 million barrels and distillate inventories rose by 612,000 barrels.

The lower inventories could signal stronger demand in the United States, the world’s biggest oil consumer. Official government data from the Energy Information Administration is due later on Wednesday.

Markets are awaiting clues on Iran’s next steps after it vowed a harsh response to the assassination of Hamas leader Ismail Haniyeh late last month in Tehran, which it accused Israel of carrying out the assassination. The

US Navy has also deployed warships and a submarine to the Middle East to bolster Israel’s defences.

Analysts have warned that a widening conflict in the region could affect crude supplies from Iran and neighbouring producers, reducing inventories and supporting prices.

Meanwhile, the International Energy Agency left its forecast for global oil demand growth in 2024 unchanged on Tuesday, but trimmed its estimate for 2025, citing the impact of a weak Chinese economy on consumption, which has further limited price gains. https://www.mawazin.net/Details.aspx?jimare=253228

The Central Bank Sponsors A Meeting To Establish A National Company To Manage Electronic Payment In Iraq

Banks  Economy News – Baghdad  The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, chaired the first preparatory meeting to establish a national company to manage central electronic payment systems in Iraq.

The Central Bank's media office stated in a statement received by "Al-Eqtisad News" that "the meeting discussed the importance of regulating electronic payment operations, keeping pace with rapid technological developments, and creating a competitive payment industry that provides safe, reliable, easy-to-access, widely interoperable payment services, and rapid response and high flexibility to technical and regulatory changes."

The meeting reviewed the company’s “main objectives and special requirements for initiating the establishment, as it will undertake the tasks of managing, operating and developing some of the central and basic electronic payment systems at the national level.”

The statement indicated that, "This step came in line with the strategic plan of this bank, which goes hand in hand with the government program in the field of electronic payment and its development in Iraq."  270 views  Added 2024/08/14 -https://economy-news.net/content.php?id=46300

Nearly 200 Billion Dinars In "Fines" From The Central Bank Of Iraq On Banks And Exchange Companies

Economy  | - 08/13/2024  Mawazine News – Baghdad  The Central Bank of Iraq announced on Tuesday that fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 181 billion Iraqi dinars during the past six months.

A table from the bank showed that "the fines imposed on banks and financial companies during the past six months, starting from January until the end of last June, amounted to 181 billion, 842 million, 854 thousand, and 458 dinars," indicating that "the fines also included 151 administrative penalties for these banks and non-banking institutions, distributed between warnings, alerts, and grace periods."

The table showed that "January witnessed the highest fines on banks and non-financial institutions, as these fines reached 98 billion, 277 million, 722 thousand, and 62 dinars, with 17 administrative penalties, while June witnessed the lowest fines, reaching 2 billion, 829 million, 157 thousand, and 288 dinars, with 30 administrative penalties."

The table did not show the names of the banks that were fined and the administrative penalties.

The Investors Association in the Iraq Stock Exchange had criticized the Central Bank of Iraq for increasing fines on banks, indicating that it would affect the profitability of investors in the shares of these banks.

https://www.mawazin.net/Details.aspx?jimare=253179

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

How Much Cash Should I Have On Hand?

How Much Cash Should I Have On Hand?  It Might Be Less Than You Think

Ivana Pino ·Senior Writer  Tue, August 13,  Yahoo Personal Finance

According to an analysis by Capital One, 47.8% of American adults make no cash purchases in a typical week. And in the U.S., an estimated 87.4% of all transactions are cashless.

With card and digital payments emerging as the primary payment methods for most consumers, you might wonder how much cash you should keep in your wallet — if any at all.

Here’s a look at the benefits and drawbacks of carrying cash, and how to go about deciding how much you should keep on hand.

How Much Cash Should I Have On Hand?

Cash may no longer be king, but it’s not obsolete by any means. There are instances when paying in cash might be more beneficial than using a debit card, credit card, or digital wallet. For instance, many small businesses prefer cash and may even offer a small discount because it saves them the fees associated with credit card transactions.

Experts say it’s common for most Americans to carry $20 or $30 in cash. Ultimately, however, the amount of cash you should have on hand depends on your unique financial situation.

When determining the right amount to carry in your wallet, consider how often you use cash and for what types of expenses. Do you prefer to save up cash for big-ticket purchases, or do you mainly rely on cash for smaller transactions such as tipping?

Either way, it’s best to minimize the amount of cash you keep on hand. For one, cash isn’t insured against loss unless it's deposited in a bank, making it vulnerable to damage, loss, or theft. Plus, physical cash doesn’t have the opportunity to earn interest or grow in value. And over time, inflation reduces the purchasing power of cash.

That said, you do want to ensure your spending money and emergency savings are “liquid.” For money that you expect to need in the near future, consider depositing it in a federally insured bank account, such as a checking account or high-yield savings account. This allows you to generate interest, which helps protect your purchasing power and increase your wealth over time, while also maintaining easy access to the funds.

Pros And Cons Of Carrying Cash

Having some cash in your wallet can be helpful when you find yourself in a situation where a merchant or retailer doesn’t accept cards or digital payments. But there are definitely downsides to carrying cash too.

Here are some of the major pros and cons of cash to consider when evaluating how much you should keep on hand.

To Read More:  https://www.yahoo.com/finance/personal-finance/how-much-cash-should-i-have-on-hand-164855098.html

MilitiaMan: IQD Update - Iraq Dinar News - Central Bank - Corruption - Automation - Change is coming

IQD Update - Iraq Dinar News - Central Bank - Corruption - Automation - Change is coming

MilitiaMan and Crew:  8-14-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=k7yH1SKtou4

FRANK26….8-14-24……IT WON’T STOP

KTFA

Wednesday  Night Conference Call

FRANK26….8-14-24……IT WON’T STOP

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

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

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

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

https://www.youtube.com/watch?v=8mHcpwKHfsY

Economist’s “News and Views” Wednesday 8-14-2024

US Debt Collapse Will Destroy Dollar | Craig Hemke

Liberty and Finance:  8-13-2024

Craig Hemke emphasizes the growing national debt, noting a recent $243.7 billion deficit in July alone and a projected $1.9 trillion deficit for the fiscal year.

 He highlights the risk of worsening inflation due to increasing debt and monetary policies. Hemke recommends precious metals, such as gold, as a reliable hedge against these financial pressures and inflation. He stresses that owning physical gold can preserve purchasing power and provide safety amid rising debt and economic uncertainty.

INTERVIEW TIMELINE:

0:00 Intro

1:40 Gold update

 4:03 COT Report

 6:20 Silver update

9:51 Acquisitions

 13:19 Recession concerns

16:46 Keynsian experiment

https://www.youtube.com/watch?v=_LxuoOe4LgQ

The Yield Curve is Un-Inverting (Stocks Crash Every Time)

Heresy Financial:  8-14-2024

TIMECODES

0:00 Intro

0:34 the Yield Curve is Currently Inverted

 1:51 This Typically Indicates a Recession

4:13 There's 2 Types of UnInverting Yield Curves

6:38 Looking at All Treasury Bonds

8:24 Bull vs Bear Steepener

12:26 How Yield Curves Correlate to Stocks

 14:58 It Pays to Be Prepared

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

Matter Of Time Bubble Implodes; What The Next Financial Crisis Looks Like | Diego Parrilla

David Lin:  8-14-2024

Diego Parrilla, CIO of Quadriga Asset Managers, discusses how governments respond to crises, and the "anti-bubble" assets that would counteract the downside risks of the next financial bubble implosion.

0:00 - Intro

0:45 - Is the market top in?

2:35 - Recession risks

5:20 - Liquidity

8:15 - Fed rate cut

12:00 – Inflation

 19:25 - Money velocity

20:35 - Dollar strength

25:11 - Bubble and anti-bubbles

https://www.youtube.com/watch?v=Q1bMwbUDp9g

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 8-14-24

Good Afternoon Dinar Recaps,

NON-MARKET ECONOMY STATUS FOR VIETNAM:  'opportunities amid danger'

RECENTLY THE US COMMERCE DEPT REFUSED TO RECOGNIZE VIETNAM AS A "MARKET ECONOMY". THIS ARTICLE FROM A VIETNAMESE NEWSPAPER REVEALS THE REASONS BEHIND THIS STATUS

"The US Department of Commerce's decision to continue classifying Vietnam as a non-market economy was disappointing news. However, this gives Vietnam the chance to accelerate reform towards a market economy."

"This is the driving force for the Ministry of Industry and Trade (MOIT) to implement the commitment that it will research and analyze the US Department of Commerce’s (DOC) report about Vietnam’s economy, to supplement and complete arguments before submitting dossiers to DOC on granting market economy status, a step to concretize the Vietnam-US comprehensive strategic partnership."

"After doi moi (renovation), Vietnam has been consistent in carrying out a reform to turn the single-sectoral economy into multi-sectoral economy. The economy has been liberated from the state’s strict and rigid control, while people have freedom to trade and do business.

In addition, Vietnam has signed 16 new-generation FTAs (free trade agreements), becoming one of the most open economies in the world."

"Thanks to economic reform, Vietnam has become an example in hunger elimination and poverty reduction, with the hunger and poverty rate falling from nearly 60 percent in early 1990s to 3 percent now. Private domestic invested enterprises with official registrations have been growing steadfastly. "

"Vietnam has finished the underdevelopment period, becoming an average income country with a dynamic market economy which is integrating deeply into the global economy."

"There is no doubt that the reforms and considerable progress in recent years are why 73 economies have recognized Vietnam as a market economy."

"Economic Freedom of the World Index by Canadian Frazer Institute released late last year showed that Vietnam ranked 106th among 165 countries and territories. The position represented a four-grade promotion compared with the year before, a relatively big improvement compared with other regional countries."

"After 40 years of doi moi, Vietnam’s economy is still undergoing the transition with some shortcomings as follows:

1. First, the pricing mechanism of some products, such as petroleum, electricity, airfare and healthcare services still bears administrative intervention.

2. Second, the protection of ownership and property rights still cannot be carried out thoroughly. In some places, land is recovered by the state at non-market prices.

3. Third, the state-owned economic sector still accounts for a large proportion of the national economy.

"A report of the World Bank shows that the state still participates in many economic activities through SOEs, while the land and capital allocation bear the impact of administrative commands rather than market conditions."

Costa Rica recognizes Vietnam as market economy

@ Newshounds News™

Source:  Vietnam Net

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INDIA's CENTRAL BANK: the impact of tokenized deposits, CBDC on deposit insurance

Yesterday during a speech, Reserve Bank of India (RBI) Deputy Governor MD Patra discussed how tokenized deposits and central bank digital currency (CBDC) might impact deposit insurance.

Tokenized deposits are a digital version of bank deposits using blockchain infrastructure to process programmable payments 24/7. In a digital world, they compete with stablecoins and CBDCs, although the design is quite different.

From a deposit insurance perspective, most tokenized deposit infrastructures aim to maintain the same deposit insurance coverage as a conventional bank deposit. However, Mr Patra noted that tokenization potentially can amplify bank runs in times of stress.

Hence, the risks posed by tokenized deposits need to be modelled to determine the insurance fund size and premium rates.

If there’s a bank failure, compensating clients might be less straightforward. “With different banks using different technologies there’s also the possibility that tokenised deposits could be held by depositors who are not KYC compliant and not clients of issuing banks,” said Mar Patra. “Consequently, verification of the authenticity and genuineness of claims may prove to be a testing challenge.”

Like the United States, India has a recent history of failing banks. In 2020 YES Bank started experiencing a run and the central bank took it over for a while. It restructured the bank with several other Indian banks taking equity stakes. Subsequently, YES Bank raised additional capital and is still operational today.

CBDC impact on deposit insurance
In an economy with a retail CBDC, if a bank fails, those with uninsured deposits will quickly try to transfer the money elsewhere. 

The advantage of a CBDC its low risk because it is the liability of the central bank. On the one hand, depositors could just transfer the money to another commercial bank. Alternatively, they could switch to a CBDC.

Hence, the Deputy Governor observed that “particularly uninsured deposits, (would be) more prone to withdrawal and hence the risk of bank runs. Given the inherent links between such systems and the objectives and operations of deposit insurers, it is expected that the topic of CBDC will continue to grow in relevance for deposit insurers.”

In other words, if CBDCs encourage bank runs, that makes a bank more likely to fail and hence there’s a higher probability of drawing down the insurance fund.

“The impact of CBDC on deposits and hence deposit insurance is largely unknown as of today,” said Mr Patra. “The operating models and design features of each individual jurisdiction’s CBDC will be a crucial factor in expanding our understanding of the balance of risks.”

@ Newshounds News™

Source:  Ledger Insights

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Canada needs to overhaul crypto regulations — Coinbase exec

The Canadian government has previously come under fire for undermining the economic freedom of its citizens and freezing crypto donations.

Coinbase country director for Canada Lucas Matheson took the stage at the Blockchain Futurist Conference on Aug. 13 to discuss the state of Canadian digital asset regulation and promote the newly expanded Stand With Crypto initiative.

Matheson argued that although Canada’s regulatory framework is already robust, the country still needs to modernize crypto regulation.

The director noted that 85% of countries will be adopting comprehensive regulatory frameworks for digital assets over the next year and urged the importance of public dialogue in educating public officials about the importance of cryptocurrencies. Coinbase’s Canadian director summed up the long-term goal for Stand With Crypto’s advocacy:

“Canada frankly has a lot of work to do to change laws, and the goal is to change laws in Canada so that we can increase economic freedom and update the financial system in Canada.”

Matheson concluded his presentation by directing audience members to sign up for the advocacy group.

Coinbase launches Stand With Crypto in Canada

Coinbase launched the Stand With Crypto initiative in Canada in July of 2024, following the success of the political advocacy group in the United States.

When the advocacy group launched, Matheson said that Canadian regulators tended to be much more cooperative with the industry than American regulators but noted that input from elected politicians was lacking.

Binance cited changes in stablecoin policy and investor limits outlined in the 2023 regulation as the main drivers for the company’s exit from the country.

@ Newshounds News™

Source:  Coin Telegraph

~~~~~~~~~

BRICS should focus on creating seamless economic environment — Indian expert

Apart from economic integration, BRICS should also address "critical global challenges with a collaborative and proactive approach," Vice Chairman of BRICS Chamber of Commerce and Industry Sameep Shastri said

NEW DELHI, August 14. /TASS/. BRICS nations should focus on creating a seamless economic environment to expand trade, industrial and investment cooperation, Vice Chairman of BRICS Chamber of Commerce and Industry Sameep Shastri told TASS when commenting on the upcoming meeting of BRICS industry ministers in Russia’s Nizhny Novgorod on August 16.

"The BRICS ministerial meeting is an invaluable opportunity to strengthen the bonds between our member nations further and address key global challenges with a unified approach," he said. "We must focus on creating a seamless economic environment that fosters growth and innovation. 

This might involve harmonizing trade policies, facilitating cross-border investments, and addressing any trade imbalances that may exist," Shastri added.

Technological disparities among BRICS nations can hinder collaborative progress, the expert noted. "The meeting should address ways to bridge these gaps through joint research initiatives, technology transfer, and innovation partnerships.

Prioritizing advancements in fields such as artificial intelligence, cybersecurity, and clean technologies will be critical," he said.

Apart from economic integration, BRICS should also address "critical global challenges with a collaborative and proactive approach," the expert said. "BRICS needs to lead by example in setting ambitious sustainability targets and implementing actionable plans.

The meeting should also focus on strengthening global health systems ensuring that we are better prepared for future public health crises," he said.

Shastri believes that peace and security should be central to BRICS discussions. "With rising geopolitical tensions and the persistent threat of terrorism, BRICS must work collaboratively to develop strategies that promote global stability.

This includes enhancing counterterrorism efforts, supporting peacekeeping missions, and fostering diplomatic dialogue to resolve conflicts," he stressed.

@ Newshounds News™

Source:  TASS

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