Economist’s “ News and Views” Friday 8-30-2024

BRICS 2024: 126 Nations Eyeing US Dollar Exit

Arcadia Economics:  8-30-2024

The October BRICS meeting is suddenly not that far away.

And now as Vince Lanci reports in today's show, we're up to 126 nations that are set to attend the BRICS Municipal Conference. Showing increasing interest in joining the bloc and moving away from reliance on the US dollar.

 Vince also talks JP Morgan's gold comments, Nvidia's earnings, and the rest of the precious metals news this morning. To find out more, click to watch the video now!

https://www.youtube.com/watch?v=zmpublt0Who

Debt Crisis Spiraling Out Of Control | Alasdair Macleod

Liberty and Finance:  8-29-2024

Alasdair Macleod discusses the imminent financial crisis stemming from the Western world's escalating government debt, which now exceeds levels seen during World War II.

He highlights the dangerous debt trap where debt growth outpaces income growth, exacerbated by a lack of foreign investment and rising inflation.

Macleod warns that the U.S. dollar is in a precarious position, with rising interest rates and a potential recession contributing to economic instability.

 He critiques the government's policies, particularly the approach to unrealized capital gains taxes, as a manifestation of the broader problem of currency devaluation.

 Macleod underscores that gold is maintaining its value amidst this turmoil, driven by global shifts away from fiat currencies and central banks' increasing gold reserves.

INTERVIEW TIMELINE:

0:00 Intro

1:35 Topic outline

3:08 Debt trap

22:53 Stocks vs gold

33:15 Russia/Ukraine conflict

42:02 Macleod Finance

https://www.youtube.com/watch?v=kug7KCVOfqE

‘Middle-Class Squeeze’: U.S. Government Spending and Real Wages Are Under Pressure - E.J. Antoni

Kitco News:  8-29-2024

Jeremy Szafron, Anchor at Kitco News, interviews E.J. Antoni, a public finance economist from the Heritage Foundation and senior fellow at Unleash Prosperity.

 In this discussion, Antoni dives into the U.S. economy’s current state, exploring whether recent GDP growth is sustainable or merely borrowing from the future.

Antoni provides his analysis on the real impact of inflation, the federal debt crisis, and the accuracy of government-reported job data.

The conversation covers the underlying vulnerabilities in the economy, from consumer debt at record levels to the challenges facing the labor market.

00:00 – Introduction

 01:16 - Is GDP Growth Sustainable or Borrowing from the Future?

 03:41 - Consumer Spending: Resilience or Credit Dependency?

06:32 - Inflation Driven by Government Spending

 09:54 - The Growing Threat of National Debt

12:47 - Can We Trust Government Job Data?

15:33 - Small Businesses and Regulatory Burdens

18:23 - Middle-Class Erosion and Real Wages

21:48 - Recession Indicators: Are We Already There?

24:35 - Long-Term Stagnation: Lessons from Japan

https://www.youtube.com/watch?v=_eTR98KJQTM

Coffee with MarkZ and Mr. Cottrell. 08/30/2024

Coffee with MarkZ and Mr. Cottrell. 08/30/2024

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: Happy Friday everyone.

Member: Well tomorrow is the last day of the week and the last day of August…..hope that is significant for us

Member: And today is the Friday before a holiday weekend.  A 3 day weekend.

Member: We have often heard that the RV is best to go o a 3 day weekend . But the whole world does not have a holiday weekend?

MZ: I have been told a 3 day weekend is easier to execute. In an ideal world they would flip the rates on a Saturday Night or Sunday morning and this would give them more time to prepare banking . It would just be easier to do it on a 3 day weekend for the biggest economies in the world.. At least that is how it was described to me.

Member: Is Redemption staff working this weekend?

MZ: Very quiet on the bond side and the group side, but the anticipation for this weekend is at a feverish pitch right now!!   We will see what happens. We should know by midday on Sunday.

Member: Quiet is a good thing I think...

MZ: We are also getting inundated with a lot of fake news. This is to be expected.

Member: Can someone please remove the wheels from the RV goal posts ?

MZ: “ The commodity comeback-Secular bull just getting started”   This is how it works when you are resetting from fiat.  They are talking about a rise in commodities. Commodities are starting to rule the day. People are running to commodities…running from paper…they want something solid. This is how history has shown us over and over. We are watching it play out, but I admit it’s a little slower than I expected.

MZ: On August 28th- “Federal Reserve board Announces  final individual capital requirements for all large banks effective  on October 1st”    That is Oct 1st of this year. They are getting tough on makng sure banks are secure. The minimum capital requirement is the same for each bank. 4.5% minimum capital for what loans they have out there. In other words. 95.5 % could be total BS.

MZ: The minimum stress capital buffer requirement…..the funds that banks can get their hands on quickly if there is a run on the banks is 2.5 %. So if there is a run on the banks….do you think only 2.5% of people are going to want their money out? That is silly….A lot more than that is going to want to touch and hold their cash …and know that it is safe. Most banks do not have these minimum requirements right now.

Member: If bank runs happen…….the PTB better be ready for huge riots, torchs and pitchforks….. and maybe some lynchings………The People of the world will rise up…imo

Member: Maybe that is what we need to get them to release the RV…..we need something.

Member: October 1st is the beginning of the New Fiscal Year!!

Member: Chase said yesterday all there banks are redeeming, you have to come in for the rate

Member: Will Iranian Rial be in the first basket?

MZ: There is a lot of back and forth on that. But right now- as of this morning I hear it is in it.

Member: Any lower denoms released in Iraq yet?

MZ: Not yet…But there are certainly preparations for lower denoms to be released on the streets.

Member: From what others are saying, all currency needs to go at once. No second baskets…

MZ: I don’t consider it as a second basket. I am told the majority of currencies will go initially …while others will have to go individually as their nations are prepared/ready. Some call that a second basket…..I don’t.

Member: US Debt Clock has shown the number of millionaires has grown by several thousand a day for the past couple of days!!

Member: Will we see an RV this year?

Member: Just a thought …911 in 2001 was to be the day this RV/Nesara/Gesara was to go, was stopped and stopped the world. September 11 is soon to be upon us. What do y’all think of this day??

​​Member: I don’t think the rv will go until the new US Treasury Notes backed by gold are out and being used.

Member: Maybe it all happens at the same time….

Member: IMO- the more that you pray the RV in, the quicker it will happen

Member: I am thankful that the Rv is happening this weekend -so by faith I call this thing forth

Member: hoping for all that can see this will be filled with joy knowing we will soon make a difference in the world

Member: Mark Z and Mark C are both AWESOME and thanks to both of you for your commitment to keeping us informed with the latest INTEL. God Bless both of YOU.

Member: Thank you, Mark for keeping us all grounded and our hearts in peace

Mr. Cottrell and CBD Gurus join the stream today . Please listen to the replay for their opinions and 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

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.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

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=3oY3fcRWOWU

Seeds of Wisdom RV and Economic Updates Friday Morning 8-30-24

Good Morning Dinar Recaps,

HONG KONG launches PROJECT ENSEMBLE SANDBOX for wCBDC, tokenization

Today the Hong Kong Monetary Authority (HKMA) launched the Project Ensemble Sandbox to support institutional experimentation with tokenization, both traditional securities and real world assets (RWA). The initiative also involves an experimental wholesale CBDC (wCBDC) to enable interbank settlement between the tokenized deposits of banks.

Four banks are providing the tokenized deposits: 

▪️HSBC,    ▪️Standard Chartered (Hong Kong), 

▪️Bank of China (Hong Kong) and  ▪️Hang Seng Bank. 

Other direct participants are Microsoft Hong Kong, Ant Digital Technologies (ADT) and Hashkey Group.

The Securities and Futures Commission (SFC) is partnering with HKMA for one of the four trial categories relating to fixed income and funds, where BlackRock and Franklin Templeton are amongst the ‘non community’ participants.

Julia Leung, SFC CEO said the Sandbox is an “example of how innovation and regulation can go hand in hand to blaze a new path for our financial markets.

As two major architects of Hong Kong’s financial markets, the SFC and the HKMA share the same vision and dedication to future-proofing the city’s financial system through innovative market infrastructure.”

Unlike stablecoins where payments involve a single token transfer, a tokenized deposit is a digital twin. Hence, a token transfer from the client of one bank to another also requires the banks to settle with each other in their off-chain books. That can be done with a payment using the conventional RTGS system, or ideally with a wholesale CBDC.

Liquidity, supply chain and green finance use cases

Meanwhile, another Sandbox application category is for liquidity management, including repo and treasury management. Ant International (not ADT), is collaborating with StanChart and HSBC to develop a global liquidity management solution. 

The goal is to use Ant’s Whale platform for treasury management to help the banks to exchange their tokens. Ultimately, this aims to support+ real-time 24/7 cross border payments.

Supply chain finance is an area to be explored in the Sandbox. One use case involves issuing electronic bills of lading (eBL) on the Global Shipping Business Network (GSBN) blockchain infrastructure.

These eBLs are tokenized by Ant Digital Technologies to support money movements for trade finance using tokenized deposits, with interbank settlement using wCBDC. The ICC Digital Standards Initiative is a participant in another trade related use case.
 

The fourth application area is for green finance, which attracted the most external participants (8) including local stock exchange HKEX.

Apart from these four areas, the HKMA said it would continue to engage with the community to potentially add more. Plus, it’s exploring collaborating with the BIS Innovation Hub on one or more themes.

The HKMA is also taking part in the European Central Bank wholesale DLT settlement trials. They aim to test the interoperability between the Project Ensemble platform and the Banque de France DL3S blockchain for wCBDC.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

JUST IN: Elon Musk wins dismissal of lawsuit claiming he rigged Dogecoin and conducted insider trading.

JUST IN: Elon Musk wins dismissal of lawsuit claiming he rigged Dogecoin and conducted insider trading.

@ Newshounds News™

Source: @WatcherGuru

~~~~~~~~~

Governments are scrambling to secure and safeguard their critical minerals.

Meanwhile, the majority of investors remain sleeping.

Billions of dollars worth of minerals in the ground are trading at a fraction of their true value.

This eventually will change.

@ Newshounds News™

Source:  Gold Telegraph on X

~~~~~~~~~

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Car Dealers Hate When You Ask These 3 Questions

Car Dealers Hate When You Ask These 3 Questions

Cynthia Measom   Updated Fri, August 30, 2024   GOBankingRates

Buying a car can be stressful. Dealers may use tried-and-true tactics to push you into a quick sale, but knowing the right questions to ask can put you in the driver’s seat.

According to Mark Beneke, co-owner of Westland Auto Sales in Fresno, California, some questions potential buyers ask might make a dealer uncomfortable because they can reveal more about the vehicle’s true condition and history. Here are three questions that some car dealers dislike — and why they’re so important for you to ask.

Can I Take the Vehicle to My Mechanic To Inspect?

Why Ask: Beneke said that a third-party mechanic can provide an unbiased assessment of the car’s condition, potentially uncovering issues the dealer might have overlooked or may not take care of as part of their process. “This will also give you some insight into the attitude of the dealership and their confidence in their work,” he added.

Why Dealers Avoid It: Beneke explained that if a dealer is aware of issues with the car or isn’t confident in the quality of the work they provide, they might be hesitant to allow you to take the car to your own mechanic.

How Long Has the Vehicle Been on the Lot?

Why Ask: “Most dealerships buy their inventory through a form of credit line, so for each day that the vehicle sits on the lot, they are paying and losing the potential to buy and sell other vehicles,” explained Beneke. “Because of this, they may be more willing to negotiate the price to move the inventory.”

TO READ MORE: https://www.yahoo.com/finance/news/car-dealers-hate-ask-3-130004635.html

News, Rumors and Opinions Friday AM 8-30-2024

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 Fri. 30 Aug. 2024

Compiled Fri. 30 Aug. 2024 12:01 am EST by Judy Byington

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

Thurs. 29 Aug. 2024 Overview of GCR/RV …Charlie Ward and Friends on Telegram The following post is an overview for those who don’t know what this GCR/RV is all about. Most people think these three things are basically the same event, not true. Each one is different.

The GCR – the Global Currency Reset – has two separate factors or parts of the whole even.

The First factor: two hundred and nine countries of the world have signed a treaty in 2014 and will reset the value of their currency through the Cross-Border Interbank Payment System (CIPS) to be on parity with all other nations of the world. That means the value of the one Dong will be the same as the value of one dollar, or any other national currency.

The real value will be felt in international trade. The Global reset means that Forex Trading for profit will be of little value as the reset will stabilize currencies and would not be subject to m**********n of currency by any government or corporation. It will affect the export markets as well, to accommodate a country’s balance of trade. Obviously, Fiat Currencies will never work in such a structured, internationally balanced.

Quantum Financial System (QFS): To accomplish this parity, a mathematical formula was created, by some very intelligent economist types (the QFS Super Artificial Intelligence), to take a conglomerate of economic data, apply a predetermined value to each data point and come up with a value for each country. This value, compared to other countries, has more to do with, the amount of currency put into circulation in that country, than it has to do with the value of its currency.

The, use factor, of the amount of currency in a countries economy, must balance the problem of supply and demand of currency while still maintaining consistent value within the international community. A problem of no small consequence for those who plan the world economy around currency and economical parity and how to accomplish this.

The Second factor in the reset, is digital Gold backed currency. To back the currency with Gold in the new QFS financial system means there is a digital Gold certificate that says you can exchange that piece of digital currency for a real piece of Gold. That means you can use either a piece of Gold or a piece of Gold backed digital money to make a purchase. Digital Money is used for convenience instead of carrying around Gold pieces. Both have the same value. The common denominator of the value of any currency is the backing of that currency by a valued commodity or asset.

While in-ground assets and other types of assets, as well as, the economy of the country, etc., plays into the parity of that currency, Gold is the most visible and universal standard to determine value. In the new QFS Digital Financial System, Gold is used as the leveling factor that buffers diversities within each country as compared to another.

As we Exchange our old Fiat currencies for the new Gold backed currencies, we are, in effect exchanging the entire old debt s*****y Financial System for a brand new, QFS Gold backed Financial System. The Central Bank of each country will once again be a part of their Treasury Department and not owned by outside private entities like the Federal Reserve Banking system, who function for their own greed and agenda. The old system is dead in the water just like an old Battleship that is no longer functionable and of little value, except for target practice.

The Gold, used by the Chinese Elders [The good guys! They’re not the c*****s!] – to create this new QFS digital money, stands as the backing for all currencies in the world. There is plenty of Gold or assets to back these currencies, in fact, more than sufficient to accomplish a new QFS monetary system for the entire world, and to flood it with asset backed digital cash. We get to say goodbye and good riddance, to the financial system of debt s*****y.

~~~~~~~~~~

Global Currency Reset:  (Rumors and opinions)

Thurs. 29 Aug. Bruce:

On Thurs. 29 Aug. 2024 there were solid but lower bank screen rates on the Redemption Center gray screens.

On Thurs. 29 Aug. 2024 the Global Financial System was fully implemented and ready to go.

All the banks have been totally integrated.

The Dinar rate was three times higher at a Redemption Center than it was at a bank.

The Dong rate was twice as high at the Redemption Center than it was at a bank.

Zim has to be redeemed at a Redemption Center, not a bank.

Tier4b should be notified to set appointments on Mon. 1 Sept.

Mortgages and credit card debt elimination was starting Wed, Thurs, Fri, 4,5,6 Sept. and will run to Sun. 15 Sept.

R&R should kick in the first week of September.

Global arrests are taking place right now.

The Forex comes up Sun. at 5pm EST with the new rates.

~~~~~~~~~~

Thurs. 29 Aug. 2024 Wolverine, “I’m absolutely excited. I wanted you to know it’s coming. It’s absolutely real.”

Thurs. 29 Aug. 2024 MarkZ: “Expect it anywhere from last Monday until September 4th.

Wed. 28 Aug. 2024: Vietnam and Zimbabwe Forge Ahead in the Global RV Movement and Redemption Center – BOOM! The Intrigue of the $100T Zim Bonds: Unmasking the Secrets of the Redemption Center – amg-news.com – American Media Group

Wed. 28 Aug. 2024: The new Quantum Financial System is the leading technology that applies and creates 100% financial security and transparency for individual currency holders. QFS assigns a digital number to every dollar/euro/yen fixed in all bank accounts worldwide. Digital numbers are monitored and updated in real time. In other words, it indicates when the sender and receiver accounts were recorded in the ledger (GPS verification). QFS lives with artificial intelligence. Artificial intelligence interacts with all financial transactions in the world, ensuring legal and intended power and transparency. Only gold or asset-backed currencies with digital gold or asset certificates will be transferred through the QFS. All gold/asset backed currencies are converted back to the gold or asset backing them.

~~~~~~~~~~

Global Financial Crisis:

Wed. 28 Aug. 2024: BREAKING NEWS ALERT: Warren Buffett’s $981 Million Bank of America Sell-Off: The Alarming Signal of an Imminent Market Crash! – amg-news.com – American Media Group

Wed. 28 Aug. 2024 Walgreens Shutting Down Thousands of Stores: https://unitednewsfront.com/winner/walgreens-announces-its-shutting-down-thousands-of-stores-customers-furious-inflation-broke-us-2/

Read full post here:  https://dinarchronicles.com/2024/08/30/restored-republic-via-a-gcr-update-as-of-august-30-2024/

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
Bank friend talked to his boss and he says when you print new currency it raises your inflation.  We have low inflation in Iraq.   We don't want to raise it.  We don't need any new zero notes.  We have already spent over $50 million on printing new notes.  FRANK:  IMO those lower notes are so close to being given to the citizens of Iraq.

Fnu Lnu  ...Crazy rumor is that the Dinar will be constant or fixed "In Country", but will float for the rest of the world. This is not true. The species of note in country will be the smaller denomination ONLY. However, the species of note for the rest of the world will include the three zero notes which will bear the same exchange rate. The only difference is that it will be multiplied by the thousands. (Three Zeros) There will be NO LOP!  It has been repeatedly stated that both species will co-exist for a period of ten years. Nothing has changed since I was told this 14 years ago. Why these rumors start to surface periodically, usually when the RV seems to be imminent,  is a mystery to me.

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

Accelerating financing private sector Iqd

Nader:  8-29-2024

https://www.youtube.com/watch?v=68P9ya2WTIg

“Tidbits From TNT” Friday Morning 8-30-2024

TNT:

Tishwash:  What are the challenges of selling Iraqi oil in “petro dinars” and will the dollar falter?

 After 2003, Iraq was able to significantly increase its oil production level thanks to its openness to international companies specializing in energy, through the new contracting system called licensing rounds. Production increased from three million barrels per day in 2003 to more than 4.22 million barrels in the last quarter of 2023.

Iraq's oil and gas sector is the country's lifeblood, contributing more than 95% of GDP.

Caution Caution

In addition, warnings are escalating about the impact of the decline in oil on the general budget in Iraq and the extent of its impact on increasing the budget deficit, which is estimated at the time of approving the budget at about (47) billion dollars, especially since the budget depends primarily on oil prices, at a rate exceeding (95%) as its source.

And to Basra, where its crude oil is witnessing weekly losses of $5, or 2%, as a result of the global decline in oil prices, while observers see: “The interesting thing about the latest confusing matter is the acceleration of oil prices, which have witnessed some declines, but as long as oil prices are above (70) dollars, Iraq is safe and the planned deficit is (47) billion dollars, but they confirmed that if it falls below (70) dollars, even by one dollar, this will increase the deficit by a large percentage of up to $1.2 billion if the decline continues for one year, and this will put great pressure on the budget.

The data also indicates that prices will remain at $70 and will rise again to around $80 based on the OPEC and OPEC Plus action plan, and Iraq will benefit. As for Iraq’s current weekly losses, they are due to fluctuations or declines in Asian demand, especially in India and China.

Strategic expert Alaa Al-Azzawi said: “This measure will enhance the value of the local currency, which is suffering from confusion due to the fluctuation of the dollar exchange rate in the Iraqi markets.

Al-Azzawi told the “Iraq Observer” agency that the most important thing in this procedure is selling oil in dinars. “The petro-dinar will enable the Iraqi currency to enter the global markets, as Russia did before and sold its oil in local currency.”

The strategic expert pointed out that the most important thing is that the Iraqi dinar will enter a new phase in global trade relations, and the position of the dollar may weaken within Iraq.

Where is the series of losses going?

Basra Heavy and Medium crude recorded weekly losses, with global oil prices recording losses of more than 2%. Basra Heavy crude closed in its last session up $1.8 to reach $72.47.

It recorded weekly losses of $3.25, while Basra Medium crude closed in its last session with an increase of $1.8 to reach $75.47, and it also recorded weekly losses of $3.39, or the equivalent of 3.92%, while Brent crude recorded weekly losses of 1.2%, and West Texas Intermediate crude recorded weekly losses of 2.1%.

Both crudes hit their lowest levels since early January this week, after the U.S. government sharply cut its estimate of jobs added by employers in the country this year through next March.

For his part, Al-Sudani’s financial advisor, Mazhar Muhammad Salih, said: “Any deviation between oil prices (petrodollars) and the exchange rate (petrodinars) according to international market data will be considered a cost that requires compensation by paying fewer dinars or collecting a higher dinar in the opposite case,” indicating that “international reserve currencies are foreign currencies held by central banks and global financial institutions as part of their monetary reserves.”

These currencies are used in international transactions and debt settlement between countries, and are a standard for international payments and facilitating global trade.”

“Russia suffered a lot when it priced its exported oil in rubles (petrorubles), and the ruble is a non-reserve currency, and committed to a value for the ruble that was initially denominated in gold to ensure the stability of oil revenues. Here, the petroruble underwent two asset cycles at the same time (which complicated the scene of selling oil in local currency and stabilizing the value of the petroruble),” Saleh said.

According to Saleh, international market data indicate that “the first cycle: is the result of the impact of what is called the gold asset cycle and its impact on the value of the (petroruble) or the local currency denominated in exported oil.

The second, and the talk is in favor of: it is the oil assets cycle, and its effect on the value of a barrel of oil outside the global price and the reflection of that on oil revenues priced in that currency, and that “the two cycles are asset cycles that are linked and contradict each other at the same time on the value (of the currency priced in the exported oil, such as the petroruble), which made pricing Russian oil in rubles as a local currency and according to the data of the global oil market a very complex issue.”

He pointed out that “the principle of using the dinar as a local currency in international oil exchanges (petrodinar) is not without many challenges, which is why those potential challenges must be carefully considered, especially the issue of the flexibility or stability of the value of the (petrodinar) itself to change and fluctuation, especially since we in the oil market are not price makers in it, but rather price takers.”

He noted that “the global oil market will control the fluctuation of the local currency (petrodinar), in addition to the importance of international recognition of it, and the financial infrastructure necessary to support such operations from (petrodinar).

“In other words, the strategy of basing the value of the currency on oil exports directly may make the value of the local currency vulnerable to fluctuations in the global market,” he continued. “The proposal to sell oil in dinars as a local currency must take into account an important theory in global trade called the Law of One Price, which is an economic concept that assumes that the same commodity should be sold at the same prices in all markets when the price is expressed in the same currency.”

Explaining: “This is on condition that there are no transportation costs or trade barriers such as customs tariffs and others, as the single price theory here is the basis for many economic and commercial models and the theory is based on the assumption that markets operate efficiently, according to the official agency.”

A new collapse
and oil prices fell by about 2 percent today, due to fears of the impact of the slowdown in economic growth in the United States and China on energy demand, especially after prices rose by more than 7 percent during the previous three days.

Brent crude futures fell 1.6 percent, or $1.31, to $80.12 a barrel, while U.S. West Texas Intermediate crude fell 1.7 percent, or $1.30, to $76.12.

Prices have risen sharply in the past few days as analysts point to a potential shutdown of Libya's Nagat fields, which could limit the OPEC member's output of around 1.2 million barrels per day.

Analysts pointed to tensions in the Middle East following a large-scale exchange of fire between Israel and Iran-allied Hezbollah in Lebanon in recent days, according to Reuters.

Crude oil prices have recently been affected by growing expectations that the Federal Reserve will cut interest rates next month, which could boost economic growth and thus demand for oil.

U.S. data is expected to show that energy companies last week pulled crude oil from inventories for the eighth week out of nine.

Analysts expected US energy companies to withdraw about three million barrels of crude from inventories during the week ending August 23.

The American Petroleum Institute is scheduled to release weekly U.S. oil inventory data today, as is the U.S. Energy Information Administration.  link

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

Tishwash:  Al-Sudani to OPEC Secretary General: Iraq is committed to the organization's production policies

Prime Minister Mohammed Shia Al-Sudani received today, Thursday, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais.

According to a statement by the Prime Minister's Office, a copy of which was received by {Euphrates News}, the meeting addressed "issues related to the oil market, with what the region is witnessing, which represents the main source of oil to the world, and the importance of coordinating joint efforts between all member states of the organization, in a way that maintains the sustainability and stability of oil prices, and does not harm exporters and consumers."

The Prime Minister stressed that "Iraq, as one of the largest oil exporting countries in the organization, always declares its commitment to the general policies of the plans adopted by OPEC countries regarding production, or what is determined within the framework of the OPEC Plus agreement."link

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

Tishwash:  Why doesn't Iraq rely on the World Bank to overcome the "dollar crisis"? An expert answers

Today, Friday (August 30, 2024), the expert in economic and financial affairs, Nabil Jabbar Al-Tamimi, commented on the possibility of the World Bank helping Iraq develop its economic and financial situation and solve the remittance crisis.

Al-Tamimi said in an interview with Baghdad Today, "The World Bank is an international banking financial institution affiliated with the United Nations, but it is subject to special management related to the influence of some countries according to their banking contributions, as its tasks are limited to investment financing for countries, providing international loans, and managing projects according to its international banking conditions."

He pointed out that "Iraq is currently working extensively with one of the World Bank institutions with the International Finance Corporation (IFC) to develop a group of sectors, including the transportation and airports sectors," explaining that "the World Bank, as an important international and financial institution and a UN institution at the same time, works with Iraq and other countries in the fields of lending and providing technical consultations, as well as providing Iraq with economic data and analyses within the limits of its work."

The expert in economic and financial affairs stressed that "it is not within the World Bank's jurisdiction to intervene in the issues facing Iraq, especially with regard to the remittance crisis, local banking failures, or weak procedures to protect funds from suspicions of money laundering and financing terrorism."

According to specialists, Iraq has more than (70) banks, approximately five of which are governmental and the remaining number are private banks, but Iraq relies heavily on financial transfers, especially with regard to the dollar, to various foreign banks, due to the failure of Iraqi private banks to arrange their legal and technical situations in the issue of financial correspondence.

Earlier, Alia Nassif, a member of the Parliamentary Integrity Committee, revealed that the Iraqi-Jordanian National Bank had obtained $3.6 billion from the currency auction during the first three months of the current year, which enabled it to obtain a profit of about 40 billion dinars. link

Mot: . Happy Friday everyone

Mot: Do You Have any Idea what a ""Jabberwalky"" Is!!!???

Seeds of Wisdom RV and Economic Updates Thursday Evening 8-29-24

Good Evening Dinar Recaps,

BRICS News: 126 Nations Discuss Moving Away from US Dollar, Explore Crypto Payments

BRICS hosted its sixth International Municipal Forum this week, with over 5,000 participants representing 126 countries attending the event in Moscow, Russia.

De-dollarisation will be high on the priority list for the countries as more countries beyond North America and Europe seek to break the US stranglehold on global finance.

BRICS is becoming stronger by the day and continues to attract more developing nations who are fed up with the continued dominance of a few economies at the expense of the majority. This made this week’s summit in Moscow even more significant, with de-dollarisation topping the list of priorities.

The sixth BRICS International Municipal Forum was held on August 27-28 this week in Moscow, Russia. According to local media, leaders from 80 Russian regions were joined by over 5,000 leaders from 120 countries globally.

Commenting on the event, Moscow’s International Relations head Sergey Cheremin said the event allowed the attendees to align their priorities in their fight for global equality.

“This forum will allow us to strengthen relations not only between the BRICS capitals and Moscow but also between our partners on all continents. Today, more than 60 official delegations are represented at the event. <…> For us, this presence is evidence of our colleagues’ interest in the technologies that Moscow is implementing in the municipal sphere,” he stated.

The forum allowed the attendees to discuss some of the challenges they face in their home countries and figure out solutions and synergies together. It touched on healthcare, transport, science and technology, education and more.

The attendees also discussed emerging trends such as AI, smart cities, IoT, climate change, and more. However, the global movement of money was one of the biggest themes.

BRICS De-dollarisation—Is Crypto Next?

As we’ve reported, BRICS has been the biggest critic of the US dollar-based global financial systems. The bloc’s founding members, especially Russia and China, have been at odds with the US for decades, competing on the tech, military, and economic front. America has continued to rely on the position of its currency to suppress these countries, and they are now fighting back.

Russia is the prime driver of the BRICS de-dollarisation movement. The Eastern European nation has been kicked out of most global funds transfer systems, including SWIFT, through the 5,000+ sanctions imposed by the US and its allies. As we recently reported, it’s working on a crypto-based system to circumvent this blockade.

When it started, BRICS was just an economic bloc of five nations with a vision of a post-USD world. However, earlier this year, five others, including Egypt and the UAE, joined, and it’s now turning into an unstoppable movement. Some reports have revealed that nearly 50 nations have expressed an interest in joining BRICS and that over half of them have formally sent their applications.

Another thing BRICS nations have in common is their affinity for crypto. Russia is set to fully legalize crypto for cross-border payments and open two new state-owned exchanges, and reports say China could follow suit.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

HOUSE COMMITTEE PLANS for Heap of Crypto Hearings in September

The House Financial Services Committee is expected to look at DeFi, U.S. enforcement and "pig butchering" in a series of hearings the panel is set to schedule for next month.

▪️The U.S. House of Representatives' financial-services committee is said to be tackling a ton of crypto issues next month, including DeFi and Securities and Exchange Commission matters.

▪️Digital assets will likely be a hot topic for SEC Chair Gary Gensler, who is said to be scheduled to face the entire committee later in September.

The U.S. House Financial Services Committee is poised to launch a series of crypto hearings digging into several aspects of the industry, according to a person briefed on the planning, including decentralized finance (DeFi), the Securities and Exchange Commission's oversight of digital assets businesses and the implications of "pig butchering" scams.

The congressional panel, which has oversight over U.S. securities and most financial products, will set a September hearing calendar jammed with crypto-relevant topics, the person said. The committee chairman, Rep. Patrick McHenry (R-N.C.), is retiring at the end of the year and has said one of his top remaining priorities is finishing one of the bills to begin establishing tailored federal rules for crypto.

The first of the hearings on Sept. 10 will be a long-awaited subcommittee examination of DeFi, an aspect of the crypto industry that's received mostly negative attention from regulators to date.

A number of proposed rules at various federal agencies could have existential consequences for DeFi projects, including at the SEC and Internal Revenue Service.

A busy day on Sept. 18 will feature two hearings – one in the morning on the enforcement practices of the SEC and one later on the implications of so-called pig butchering, the practice of posing as a romantic partner to scam people out of their assets.

But a full-committee hearing on Sept. 23 could carry the most crypto weight, with the SEC set to testify. The House panel is said to be seeking testimony from Chair Gary Gensler and the rest of the five-member commission in the same hearing – a highly unusual approach.

They'd appear just as the lawmakers are also negotiating legislation that could seek to hem in the agency's digital assets jurisdiction in favor of casting the Commodity Futures Trading Commission in a more prominent role.

The possibility of crypto legislation remains dicey this year, though the calendar includes time for work on bills, and prominent lawmakers – including Senate Majority Leader Chuck Schumer (D-N.Y.) – keep saying they intend to get something done.

A spokesperson for the committee chairman didn't immediately respond to a request for comment on the schedule planning.

@ Newshounds News™

Source:  CoinDesk

~~~~~~~~~

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The Four Biggest Mistakes People Make When Buying A New Car

Edmunds: The Four Biggest Mistakes People Make When Buying A New Car

Josh Jacquot  Updated Thu, August 29, 2024

Car buyers have more tools than ever to get the right vehicle at the right price. Still, mistakes can happen quite easily. Often, car buyers get blinded by emotion or rushed timing. Edmunds’ experts reveal the four biggest mistakes car shoppers often make and offer tips to avoid them.

Trading in a Vehicle with Negative Equity

Being upside down on a trade-in vehicle is occurring with increasing frequency. According to a recent Edmunds report, nearly one in four consumers who financed a new vehicle purchase with a trade-in during the second quarter of 2024 were underwater on their prior car loan.

“Upside down,” “underwater” and “negative equity” are interchangeable terms for a bad situation: All three mean that the car owner owes more on the loan than the vehicle is worth. Not only has the number of upside-down trade-ins grown since 2022, but so has the amount owed on those loans.

If, for example, you are $5,000 upside down on your current vehicle and decide to trade in this car and buy a new one, you will have to pay the price of the new car plus the $5,000 you owe on the current car. Your monthly payments will be much higher because you’re rolling over what you owe on your old car to the loan on your new one.

The best financial solution is to keep your current car longer and continue paying off its loan. Waiting might be challenging — you want that new car, we get it — but if you can at least ensure your trade-in value equals your loan amount, you won’t have to pay extra for the new vehicle purchase.

Rushing Into a Vehicle Purchase

There can be legitimate reasons to expedite a vehicle purchase. Perhaps your vehicle was totaled in an accident, or maybe it broke down and it’s not worth paying to fix. Either way, you’ll need a new car right away. But many shoppers don’t think about doing valuable research beforehand.

There will be new and unfamiliar automotive features and technologies worth knowing about, especially if it’s been a while since you bought a new car. If you take your time, you’ll also be able to get several quotes before you commit to a deal and have time for a vehicle inspection if it’s a used car.

Even if you need to replace your car quickly, it’s often better to find alternative transportation while you research a new vehicle purchase. Renting a car for a few days might cost a few hundred dollars, but that’s better than picking the wrong vehicle or getting suckered into a bad deal.

TO READ MORE:  https://www.yahoo.com/finance/news/edmunds-five-biggest-mistakes-people-112528264.html

Thursday Evening Chat With MarkZ 8-28-2024

Thursday Evening News 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: Good Evening Mark, Mods and Members

​​Member: So we are going to see another month go bye. What does September look like yes or no?

Member: I heard September is one of the best months for revaluations?  Guess we will see.

MZ: the rumor mill has been relatively quiet without anything provable. But we have some information from the real world we can follow.

MZ: “Iraq’s Prime Minister Mohammad Shia Al Sudani chaired a meeting of the high committee for tax reform”  So when they reviewed it they found there was a 22 % growth in tax revenues. This means the economic reforms they are working on are working . This one is really big news.

MZ: “Saudi Arabia signs an MOU  (memorandum of Understanding) with Iraq on money laundering.”

MZ: Bank Story today:  “Good Evening. I visited my neighborhood bank ( Will not share the bank) My teller mentioned they were running around like chickens with their heads cut off because they are in the process of learning their new banking software. I remarked QFS? She knew what I was referencing and responded with a “yes” . I asked her to check for rates on my 3 currencies- She calls the branch manager for assistance. This is the same branch manager that told me the RV was a scam months prior . The manager said WF was not contracted to exchange some currencies…WF was only contracted to exchange the Zim and dong.  I was stunned. So I inquired if that arrangement was at just this location?  They believe that contract was nationwide.”

MZ: I found this one interesting as they admitted to it. And I feel very confident they will be handling the dinar as well.

Member: My bank has changed their name by adding Financial Services Center.

Member: If I didn’t have so much invested in this movie, I would get up and walk out.

Member: We can safely say this is the worst movie ever…..Run the credits please.

Member: I’m praying redemption centers are working this weekend and we get to make our appointments

Member: Everyone keep positive thoughts…..its coming

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=OtqT11Rux0w

More News, Rumors and Opinions Thursday PM 8-29-2024

TNT:

Tishwash:  Central Bank of Iraq on 'unannounced' visit to America

An informed source revealed, on Thursday, that the Central Bank of Iraq is currently making an unannounced visit to the United States of America, to discuss developments in the Iraqi banking sector. 

The source told Shafaq News Agency that a delegation from the Central Bank of Iraq, headed by the Governor of the Central Bank, Ali Al-Alaq, and a number of general managers, have been visiting the United States of America since the 26th of this month, to discuss developments in the banking sector and the restrictions on the use of the dollar imposed on a large number of private banks. 

He pointed out that the Central Bank delegation discussed cancelling the platform at the beginning of next year, and relying on correspondent banks, which will increase the imposition of restrictions on Iraqi private banks, and completely eliminate competition in favor of Jordanian banks that have American correspondent banks. 

The source noted that the Central Bank is close to signing a contract with Oliver Wyman, the consulting firm for the Iraqi Development Road, to conduct a study on reforming the Iraqi banking sector, in order for it to be approved by the Central Bank in the coming period, and to be considered a roadmap for reforming the private banking sector. 

On the other hand, a number of economists were surprised by the lack of announcement of the visit of the Central Bank of Iraq to America, especially since it comes at a very important time.  link

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

Tishwash:  Parliamentary Committee: We intend to amend 10 economic laws to facilitate trade and customs procedures

 The Parliamentary Economic Committee announced today, Thursday, the existence of a project to amend about 10 economic laws, explaining that the goal is to enhance trade, facilitate customs and tax procedures, support the public and private sectors, and develop a real map for economic reform.  

Committee member Yasser Al-Hussaini said, “There is a new project that includes amendments to approximately 10 economic laws,” indicating that “the proposed amendments came after holding intensive workshops with the Businessmen’s Union and the Iraqi Businessmen’s Council, in addition to representatives from various economic sectors.” 

He explained that "these workshops aimed to absorb all visions and requirements from various economic sectors, including commercial and industrial sectors, in order to develop a comprehensive vision that achieves the required reform." 

Al-Hussaini pointed out that "the proposed project includes amendments to 10 laws aimed at enhancing trade, facilitating customs and tax procedures, and supporting the public and private sectors." 

The MP stressed that "the proposed percentage of amendments is still less than the desired level of comprehensive economic reform." 

He explained that "the committee hopes to expand the scope of the amendments to include more economic laws, reflecting the true vision of economic reform, which is not limited to meeting the requirements of the government or the private sector, but aims to develop a comprehensive vision that achieves the interests of all." 

He explained that "the law was read for the first time, and the second reading is scheduled to take place after the final vision matures through the ongoing workshops, after which the committee's report will be submitted and the law will be voted on." 

He pointed out that "this approach aims to draw a real roadmap for the long-awaited economic reform, and to ensure its compatibility with all the aspirations of the concerned parties, whether at the government or private sector level."   link

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

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

8-28-2024  Intel Guru Frank26  [Iraq boots-on-the-ground report]  FIREFLY: They tell us no matter what the dinar is stable and it is strong.  FRANK:  A program rate is not stable or strong...It's completely  worthless.  It's not strong.  It's not stable.  What are they telling the citizens?  FIREFLY:  New changes once they are implemented and take hold it will be a backbone of security for our economy and our banking system.  FRANK: That's why Alaq is in  New York right now.  Security and stability being established for the monetary reform...What are they trying to tell you?  That you  have a new exchange rate...lower notes coming to you.  None of this is going to work at a program rate.  It can only work with the  new exchange rate to add purchasing power...  

Militia Man   Iraq has some of the largest deposits of phosphates and sulfur...massive world class gold supply...rare Earths...liquid natural gas and they have...tourism... They all generate income... The Development Road Project...you're going to find taxes and tariffs at the borders.  There's going to be a lot of revenue, a lot...Back in Saddam Husain era [the dinar] was around $3.22.  It may have been considered a little bit overpriced, should have been more about $2.80...It's at 1310 right now!  There's a big difference.  Now you have to add all those things I just mentioned.  The valuation of a country.  That's what they have to do... Sudani wasn't lying when he said the dinar is going to be stronger than the dollar...

Bank Of America Is In Big Trouble

Atlantis Report:  8-28-2024

The banking industry is going through a significant change, and Bank of America is at the center of it. Despite being known for its strength, it is now facing numerous challenges that could shake its foundations.

Bank of America is currently facing different challenges, which have created an uncertain environment for investors, analysts, and consumers who are cautiously observing how the bank will navigate through these difficulties.

 Despite its previous success, Bank of America's future remains uncertain, with many challenges that have critical implications for the broader economy and impact on the real estate market.

https://www.youtube.com/watch?v=O4w4ZwyqdaU

WARNING: Warren Buffet “No Comment” on BANK Sell-Off and Holding BILLIONS in Cash

Taylor Kenny:  8-29-2024

Berkshire Hathaway tops $1 Trillion Dollar market cap as Warren Buffet sells almost $1 Billion worth of Bank of America shares. He's refusing to speak on it at this time...Does he know something we don't?

https://www.youtube.com/watch?v=P5p-lgDwvtI

Iraq News Highlights and Points To Ponder Thursday Afternoon 8-29-24

Industrial Bank Warns Citizens Against Carrying Amounts Exceeding The Permitted Limit

Economy  |  08/29/2024  Industrial Bank warns citizens against carrying amounts exceeding the permitted limit Default  Mawazine News – Baghdad  The Industrial Bank warned citizens today, Thursday, against carrying amounts exceeding the permitted limit.

The bank's media office said in a statement received by (Mawazine News): "Citizens should be careful not to carry amounts exceeding the permitted limit," indicating that "they can use official methods to transfer large sums of money."

He added, "Citizens should avoid carrying cash to avoid legal accountability in the event that the permitted limits are exceeded when bringing money in and out of Iraq are exceeded." https://www.mawazin.net/Details.aspx?jimare=254121

Victory: Passing Laws With One Basket Is Immoral

Policy Information/Special..  Today, Wednesday, the member of the Victory Alliance, Aqil Al-Radini, stressed the necessity of sorting between laws and avoiding factional interests in passing them, while he indicated that placing laws in one basket is an immoral matter.

Al-Radini said in a statement to Al-Maalouma Agency, "The political bargaining that takes place in order to pass important laws in the House of Representatives cannot be called a legislative matter," noting that "putting the Popular Mobilization Law and the general amnesty in one session is suspicious."

He added, "The accusations against the Popular Mobilization Forces' retirement law as an election promotion are incorrect and out of place," noting that "the laws must be viewed from a legal perspective and criticized on this basis."

Experts believe that passing laws according to factional interests is illegal because some of them are devoid of legal scrutiny. LINK

Parliamentary Finance Committee Reveals The Truth About Government Spending Exceeding The "Red Lines"

Baghdad Today – Baghdad  The Parliamentary Finance Committee revealed, today, Wednesday, August 28, 2024, the truth about government spending from the financial budget exceeding the red lines by spending more money than its allocated amount.

Committee member Jamal Kojer told Baghdad Today, "Government spending did not cross the red lines, because basically there is no government spending so far and no money has been spent according to what was stated in the budget law for this year."

He explained that "the delay in government spending as planned in the budget law is perhaps due to a lack of liquidity or a delay in approving the budget and the problems that occurred in its schedules."

Koger said, "There are a number of issues that led to stopping government spending and keeping only salaries."

It is noteworthy that the Ministry of Finance has denied on more than one occasion the existence of a liquidity problem to secure employees’ salaries and other operating expenses.  LINK

Al-Maliki Threatens Escalation: We Will Hold Demonstrations To Obtain People's Rights From Oil Companies

Posted On 2024-08-28 By Sotaliraq  Member of Parliament, Dhurgham Al-Maliki, announced the suspension of his membership in the parliamentary Oil and Gas Committee until further notice, justifying his decision by the committee’s failure to respond to his repeated requests to investigate suspicions of corruption related to the employment of workers in the oil fields.

Al-Maliki confirmed that he will take escalatory steps, including taking to the streets with his supporters, if these issues are not dealt with seriously.

Speaking to Al-Mada, Al-Maliki explained that when he requests to host a director of an authority or an official responsible for security permits or the employment file, his goal is to “inquire about the work mechanism,” not to blackmail or intimidate. He pointed out that he has received many complaints from citizens about selling job grades and operating cars within the authorities in exchange for sums of money.

Al-Maliki revealed the exploitation of the resources of the Basra Oil Company and some authorities and fields by employees for the purpose of illicit financial gain, which has led to increased corruption and the excessive exploitation of the money and oil of the Iraqi people.

Al-Maliki confirmed that he asked the parliamentary Oil and Gas Committee to host the director of an authority and the official of the permits department, noting that he has evidence incriminating these officials on charges of bribery and corruption, but he has not received any response from the committee for three weeks.

He explained that this disregard prompted him to suspend his membership, announcing that he will take escalatory steps if the situation continues as it is.

Al-Maliki stressed that before being a representative, he is a tribal sheikh with a large audience supporting him, and that he is ready to take to the streets with his audience to demonstrate in front of the oil authorities and fields to demand their rights at work. He pointed out that issues of concern to citizens may not be a priority for the committee at the present time, which led to a lack of interaction with his demands.

Earlier, Maliki had announced in a press conference that he was suspending his membership in the parliamentary oil and gas committee due to suspicions of corruption related to the employment of workers in the oil fields.

Maliki concluded his statements by stressing that he would not back down from his position until these issues were dealt with seriously and the suspicions of corruption related to the employment of workers in the oil fields were investigated, which he described as being marred by many suspicions of corruption and requiring a comprehensive review and investigation.  LINK

New Agreement Between Integrity And Interior In The Field Of Combating Corruption

Local  2024-08-29 |Source:  Alsumaria News  Alsumaria News – Local  The Chairman of the Federal Integrity Commission, Judge Haider Hanoun, praised the close cooperation between the Commission and the Ministry of Interior, describing the Ministry as a safety valve for the citizen and the one who is keen on implementing the law.

Judge Haider Hanoun, during his reception of the Minister of Interior, Abdul Amir Al-Shammari, noted that the efforts to combat corruption are not individual or limited to one institution over another, explaining that these efforts result from collective and joint work, and the Ministry of Interior is “the spearhead in the battle to combat corruption.”

The Chairman of the Commission praised the Arab and International Police Directorate (Interpol) for its great efforts and high level of coordination and cooperation with the Integrity Commission, especially in the file of retrieving those wanted in corruption cases, noting that the work of the Directorate within the efforts to pursue the corrupt and attempt to return them to the country is great, and is considered the "unknown soldier" of the Ministry of Interior.

For his part, the Minister of Interior, Abdul Amir Al-Shammari, expressed his full support for the Commission in all its aspects in its relentless efforts to cleanse state institutions from the clutches of corruption, pointing out that security stability contributes to the existence of achievements in combating corruption and enhancing integrity, and in raising the level of services provided to citizens.

According to the Integrity Commission statement, an agreement was reached between the two parties to hold courses, workshops and educational seminars in the field of combating corruption, preserving public money and the ethics of public service for members of the Ministry, in addition to basic courses for officers in the Interior.  LINK

The Center For Banking Studies Concludes The Specialized Certificates Program Accredited In The Kurdistan Region Of Iraq

 August 28, 2024   The Center for Banking Studies concludes the specialized certificates program accredited in the Kurdistan region of Iraq News-172483735911343  https://cbi.iq/static/uploads/news-172483735911343.jpg

     The Center for Banking Studies at the Central Bank of Iraq concluded the specialized certificate program (certified credit analyst) and (certified risk management expert) in cooperation with the German Organization for International Cooperation (GIZ) and the project to strengthen public financial management and financial markets in Iraq (FFM) in the Kurdistan region of Iraq. For the period from 11 - 22/8/2024.

    The program aims to grant accredited professional certificates, which are presented by experts and specialists in financial and banking issues and under the direct supervision of the University of Frankfurt.

     This comes within the framework of the efforts of the Center for Banking Studies to develop the skills of banking cadres in all Iraqi governorates.

     It is noteworthy that the program continues to provide these courses to those wishing to obtain them and in all governorates of Iraq, as participation in the approved specialized certificates program is done by calling the numbers 07734902775 / 07738473787 / 07822246055 and email bsc@cbi.iq.  Central Bank of Iraq  Media office  https://cbi.iq/news/view/2657

The Digital Platform For Financial Efficiency Books, Financing Plans And Controls

 August 28, 2024       :diamonds: Based on the Central Bank of Iraq Law No. (56) of 2004, as the sectoral body supervising the work of all licensed financial institutions, and within the framework of this bank’s direction to automate the work of the banking sector, as well as to support government efforts in implementing its contracts, a digital platform was created that includes the development of a new mechanism.

To issue (financial efficiency books and financing plans books) from all licensed banks, and their controls..For more click here  https://cbi.iq/static/uploads/up/file-172483397111723.pdf  *   *[six pages long]   https://cbi.iq/news/view/2656