MilitiaMan & Crew News Reporting - Iraq Dinar Updates

MilitiaMan & Crew News Reporting - Iraq Dinar Updates

MilitiaMan and Crew: 10-17-2024

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=ELXnIAlX4xI

A Real Asset With A 12% Dividend Yield

A Real Asset With A 12% Dividend Yield

Notes From the Field By James Hickman / Simon Black October 17, 2024

It’s very hard to overstate just how obliterated the global economy was following World War II. Europe was in ruins, with many major cities having been bombed back into the Stone Age. Japan had literally been nuked.

And just about every economy around the world that still had any manufacturing capacity was pumping out guns, bullets, and bombs; there was hardly any economic activity taking place that wasn’t somehow tied to the war.

It was sort of like Covid— the regular economy was shut down... and governments discovered very quickly that they couldn’t simply turn the global economic machine back on with the flip of a switch.

The transition from obliterated war economy to booming peacetime economy was an incredibly difficult one. So in 1948, the United States (which was among the only developed major economies still standing) launched the Marshal Plan.

The idea was simple, America would shovel $13 billion (which, as a percentage of global GDP is equivalent to around $5 trillion today) around the world to facilitate trade and economic development.

But alongside the financial aid came a promise: the US Navy would protect the seas, ensuring that the global flow of goods could continue unimpeded.

For decades, American naval dominance guaranteed a level of safety and stability that allowed international trade to thrive. Shipping routes were secured, costs remained low, and commerce could flow relatively uninterrupted across the world's oceans.

The post-WWII era ushered in an unprecedented period of cooperation and prosperity, making international trade easier, faster, and more profitable.

But those calm seas are growing choppy again.

The war between Russia and Ukraine, for example, has drastically altered oil trade routes. Russian crude oil, which once flowed easily into Europe, is now making much longer journeys to places like India, where it’s refined and then sent back to Europe as diesel.

This convoluted, inefficient process is adding enormous strain and cost to shipping routes, increasing the “ton miles”, i.e. each mile that a ton of product must travel.

But this is just one example. In the Middle East, the Houthis in Yemen have launched attacks on vessels transiting the Red Sea, creating a new chokepoint in global shipping lanes. Pirates have increased their attacks in the area as well.

Many oil tankers are now rerouting entirely around the southern tip of Africa to avoid the Suez Canal, extending travel times significantly.

The further oil must go, the more tankers are needed. The problem is, these changes took place quite rapidly, yet shipbuilding is not an industry that can quickly respond to that demand.

Shipbuilding is a slow, capital-intensive process. And after years of underinvestment, there are hardly any new tankers being built. Shipyards are busy constructing other types of vessels, but the number of new oil tankers remains near record lows.

At the same time, a large chunk of the existing global fleet is over 20 years old, nearing the end of its lifespan. This imbalance is going to worsen before it gets better, leading to a serious shortage in oil tankers at the exact moment when the world needs them most.

The combination of more ton miles and fewer ships is creating a perfect storm in the tanker market.

This imbalance is inflationary. Both shipping and energy are core components of nearly every supply chain. Higher costs to transport oil mean higher costs for just about everything else we buy—from groceries to manufactured goods.

Climate fanatics can pretend that the world is ready to run off wind and solar, which is why they suppress investment in everything from new drilling, to transport ships. But the reality is, oil is still the most important energy source on earth.

Energy is a prime example of a real asset— a critical resource that keeps the economy going, and cannot be created out of thin air by governments and central banks.

And the shipping companies which transport that oil are real asset businesses... which is why we have been following this industry closely.

One company in particular that we told subscribers about in our premium investment research stands out as being uniquely positioned to capitalize on these trends.

It has a fleet of 82 ships, with an average age of just over 10 years, meaning they have plenty of life left. They can also continue to benefit from the shortage of ships as long as it lasts— which we know from the global orderbook for new ships, will be several years at least.

But this also means the company won’t have to spend huge amounts of capital in the near future buying new ships. And already, it carries little debt... yet still pays around a 12% dividend.

Again, in addition to the dynamics of debt, deficits, and dysfunction in the US government which promise to increase inflation, global conflict is also inflationary.

This is another example of the real asset companies not only poised to do well in an inflationary world, but that are also trading near historic low valuations.

This shipping company, for example, is trading at a P/E (price to earnings) ratio of just 4.44.

While we can wish all we want that the world was not becoming less cooperative, that won’t change the reality. Better to position ourselves to benefit under these conditions, by investing in companies that actually gain from that disorder.

We’ve talked a lot about this same dynamic when it comes to gold, and why central banks around the world are turning to it, and away from the US dollar.

We also talked about it recently in relation to how the prices of certain critical metals have been artificially suppressed by climate fanatics who think the days of gas vehicles are past. They are wrong.

The best way to fight back, while inflation-proofing your future, is to invest in critical real asset companies at historic lows.

To your freedom,  James Hickman  Co-Founder, Schiff Sovereign LLC

PS-

Our premium investment research service, The 4th Pillar, has provided recent, in-depth reports on several undervalued real asset businesses, which we believe are set to boom under these conditions

https://www.schiffsovereign.com/trends/a-real-asset-with-a-12-dividend-yield-151662/

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 10-17-24

Good Afternoon Dinar Recaps,

STABLECOIN ADOPTION IN U.S. IS LOW: CHAINALYSIS REPORTS

According to a Chainalysis report, stablecoin adoption in the U.S. has slowed, with regulatory uncertainty driving more transactions to global markets.

Stablecoin adoption in the U.S. has slowed in 2024 compared to global markets, according to an October 17 report by blockchain analysis firm Chainalysis.

The report highlights that while stablecoin use has surged internationally, U.S. markets have seen a decline in their share of stablecoin transactions, dropping from roughly 50% in 2023 to below 40% in 2024.

Global Stablecoin Adoption Outpaces the U.S.
As per the report, this slowdown in adopting stablecoin in the U.S. is largely attributed to the lack of regulatory clarity.

Chainalysis noted that, in contrast to other regions, the U.S. has failed to make significant regulatory progress in the digital assets space, particularly stablecoins, contributing to a stagnation in adoption.

While the U.S. stablecoin market is experiencing a relative decline, global markets have witnessed increased adoption.

More transactions are now taking place on non-U.S.-regulated exchanges, reflecting a growing demand for stablecoins in emerging markets.

This surge is driven by stablecoins’ ability to offer a stable store of value in regions with volatile currencies and limited access to U.S. dollars.

Populations in these areas use stablecoins to access U.S. dollar stability without needing traditional banking systems.

U.S. Regulatory Uncertainty and Global Competition
Chainalysis also emphasized that regulatory uncertainty in the U.S. contributes substantially to the country’s slowdown in stablecoin adoption.

Unlike regions such as the European Union, United Arab Emirates, Singapore, and Hong Kong, which have enacted clear regulatory frameworks encouraging digital asset growth, the U.S. struggles to regulate stablecoins.

Additionally, the European Union’s Markets in Crypto-Assets Regulation (MiCA), implemented in June 2024, has provided much-needed clarity for stablecoins in Europe, attracting projects and fostering adoption.

Meanwhile, Circle warns that without clear guidance, the U.S. could forfeit its influence in the stablecoin market and lose its leadership in dollar-based on-chain commerce.

While the U.S. lags in regulatory progress, there have been steps toward developing a stablecoin framework.

In July 2023, the House Financial Services Committee advanced a stablecoin bill aimed at providing regulatory clarity.

Circle remains optimistic, hoping that Congress will pass the bill to establish clear anti-money laundering (AML) and sanctions obligations for stablecoin issuers, ensuring the U.S. retains its role in the global stablecoin market.

@ Newshounds News™

Source:  CryptoNews

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RIPPLE NEWS: CEO BRAD GARLINGHOUSE CONSIDERS IPO PATH, SAYS ‘SEC IS NOT OUR FRIEND’

At the recent Swell conference, Ripple CEO Brad Garlinghouse addressed the possibility of the company going public. When asked about a potential IPO in light of regulatory clarity expected next year, he clarified, “An IPO has not been a high priority for us. Part of that is because the SEC is not our friend.”

In an interview with Thinking Crypto, he said that most companies seek to go public primarily to raise capital. In contrast, Ripple has maintained a strong financial position, allowing it to invest in various projects and make acquisitions without the immediate need for public funding. “We have a hostile SEC and a company that doesn’t need to raise capital,” he said, explaining why an IPO is not at the forefront of Ripple’s agenda.

Garlinghouse did acknowledge the importance of ensuring liquidity for shareholders and maintaining appropriate company valuation. However, he reiterated that prioritizing an IPO is not urgent, especially given the time-consuming process it entails. “Even when I think about it, usually when a company says they’re going public, it still takes twelve plus months,” he said, adding that regulatory conditions must improve first.

The Crypto Market Outlook for 2025
When discussing the broader crypto market as it heads into 2025, Garlinghouse expressed positivity despite the challenges the industry has faced.

Garlinghouse pointed out that the U.S. government’s previously hostile stance towards crypto is beginning to shift, especially with major players like BlackRock entering the space. He explained the importance of this development, as it indicates increasing institutional interest in blockchain technology and its potential applications.

While acknowledging the difficulty of making accurate predictions about crypto prices, Garlinghouse remains optimistic about the next year or two, suggesting that positive changes may occur sooner rather than later.

@ Newshounds News™

Read more:  CoinPedia

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🌍 Q: Can I sell my Zim for money today? Can I gift Currency? DYOR | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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More News, Rumors and Opinions Thursday Afternoon 10-17-2024

MikeCristo8: This will Reset Oil Back onto a Gold Standard

10-16-2024

The whole point of the BRICS alliance is to stabilize the Middle East oil markets away from the dollar SWIFT payment systems.

This involves having a new currency to settle your Middle East oil trade.

BRICS is likely to introduce a *small basket of currencies backed by oil and gold.

That will reset oil back onto a gold standard.

Doesn’t everyone realize that the liquidity problems faced by banks is.

Because the dollar no longer settles the oil trade.

China is devaluing the yuan against gold to get oil onto a gold standard.

https://dinarchronicles.com/2024/10/16/mikecristo8-this-will-reset-oil-back-onto-a-gold-standard/

RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 17 Oct. 2024

Compiled Thurs. 17 Oct. 2024 12:01 am EST by Judy Byington

Wed. 16 Oct. 2024 The 30+1 Primary Provisions of NESARA GESARA: The Ultimate Blueprint for Global Transformation …David Wilcock

1. Debt Forgiveness: All bank-related debts, including credit cards, mortgages, and loans caused by illigal banking practices, will be eliminated. This financial “jubilee” will free people from oppressive financial institutions.

2. Termination of the IRS: The IRS will be permanently shut down, and its employees will be reassigned to the new Treasury-based tax collection system.

3. Abolishment of Income Tax: Income taxes, including taxes on investments and retirement accounts, will be completely removed, as they were unconstitutionally imposed.

4. Flat-Rate Sales Tax: A 14% flat-rate sales tax will be introduced on new, non-essential goods (excluding food, medicine, and used items) to fund government operations, ensuring a fairer and more transparent tax system.

5. Restoration of Financial Privacy: New systems will be implemented to protect financial privacy, ending widespread data theft and hacking.

6. Re-indexing of Precious Metals: Gold, silver, and other precious metals will be re-indexed within 30 days of NESARA’s completion, stabilizing the economy.

7. Federal Reserve Phase-Out: The Federal Reserve will be dissolved over the course of a year, transitioning all monetary control to the U.S. Treasury.

8. Banking Reform: Banks will face new limits on rates and fees, while citizens gain stronger custody rights over their funds. Banks will be phased out over 3-5 years post-NESARA.

9. Boost to Senior Citizens’ Benefits: NESARA will increase benefits for senior citizens, ensuring financial support during their later years.

10. Global Peace Initiatives: The U.S. will cease all aggressive military actions, focusing on peaceful diplomatic relations worldwide.

11. QFS (Quantum Financial System): Most NESARA-related exchanges of foreign currency and bonds will be securely stored in blockchain accounts via the Quantum Financial System.

12. Humanitarian Project Funding: Large-scale funding will be provided for domestic and global humanitarian projects, allowing for widespread societal improvements.

13. Redemption of Currencies and Bonds: Individuals will have the opportunity to redeem or exchange their foreign currencies and ZIM bonds at specific rates for personal use and humanitarian projects.

14. Reclamation of Stolen Assets: Assets stolen by corrupt institutions, including the Federal Reserve and Wall Street, will be reclaimed and restored to rightful owners.

15. Return to Constitutional Law: NESARA will restore Constitutional Law within the U.S. legal system, eliminating unconstitutional practices.

16. Reinstatement of the Title of Nobility Amendment: Americans under foreign influence or control will lose their citizenship and be deported to prevent foreign interference in domestic affairs.

17. New Elections: Immediate Presidential and Congressional elections will be held within 120 days of NESARA’s announcement, wiping the slate clean of previous corrupt regimes.

18. New QFS Voting System: A revolutionary voting system based on the Quantum Financial System (QFS) will replace the current election system. Only those who have participated in NESARA benefits will be eligible voters.

19. Release of Suppressed Technologies: Over 6,000 hidden patents for advanced technologies, including free energy and medical cures, will be made public.

20. Privatization of the U.S. Postal Service: The USPS will be privatized to streamline operations and improve efficiency.

https://dinarchronicles.com/2024/10/17/restored-republic-via-a-gcr-update-as-of-october-17-2024/

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

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

Frank26  [Bank Story]   BRAD:  Huntington Bank in Pennsylvania...I funded my account with a small amount of money and I said I'd like to place an order for Iraqi dinar but before I do I want to see how much I can get for my money...To make a long story short they sell them at the program rate, which you know is nothing special...By the time I left I realized all I had to do was have her remove money from my account.  I was on top of the world.  I came home and called...Gary. I said you live in Indianapolis, Do you have any Huntington Banks where you are?  [Post 1 of 2....stay tuned]

Frank26  [Bank Story Continues]  He goes yeah.  I said, you want to call them and see if you can purchase the dinar and dong?  He goes sure thing.  He text me back half hour later, he goes, Brad I can get them here in Indianapolis too.  They come out of Miami...Why would Huntington Bank all of a sudden be selling dinar and dong at...970 branches in 11 states?   Boom! FRANK:  ...I have a Huntington Bank here in Toledo Ohio, they wouldn't sell dinars in the past.  Why are they doing it now?   The reason why IMO is because it opens the door for them to exchange the three zero notes.    [Post 2 of 2]

LBMA Survey Foresees Silver Rising To $45 Per Ounce

Arcadia Economics:  10-17-2024

The LBMA just held its annual conference in Miami, where they compiled their precious metals survey. Which calls for silver to outperform gold, and rise to $45 per ounce.

To get a full recap of their conclusions and what you can take away from them, Vince Lanci goes through the report and puts it all in context.

https://www.youtube.com/watch?v=wcCv1Yosn9g

Economist’s “News and Views” 10-17-2024

We've Destroyed the US Dollar and Time is Running Out to Save it: Art Laffer

Daniela Cambone:  10-17-2024

In this conversation with Daniela Cambone, Dr. Arthur Laffer discusses various aspects of the economy, focusing on the implications of debt, trade policies, the future of the US dollar, monetary policy, and the impact on the middle class.

He emphasizes that debt is a tool that can be used effectively if managed properly, critiques current trade policies, and argues for the importance of a stable dollar and sound monetary policy.

Laffer also highlights the need for a flat tax system and discusses the challenges facing the middle class in today's economic environment.

CHAPTERS:

00:00 Debt is a tool, not the problem.

5:13 Trump’s tariffs plan

10:05 De-dollarization

 13:17 The strength of U.S. dollar

14:39 Threats that the U.S. dollar is facing

15:34 Return to the gold standard

 17:00 What should Powell be doing?

19:45 Lift the American middle class

21:34 U.S. debt

 41:10 Illegal immigration and border security

43:47 Final takeaways

https://www.youtube.com/watch?v=v7h4fvVtRAY

ALERT! THE WORLD ECONOMY IS FREEFALLING FASTER AND DEBT SATURATION IS MAKING IT WORSE.

Greg Mannarino:  10-17-2024

https://www.youtube.com/watch?v=jJykWabDYp4

Citigroup Sounds The Alarm On TOTAL Economic Collapse, Chase Bank Warning

Atlantis Report:  10-17-2024

As we end 2024, the ominous tune of a banking collapse looms large over the once-mighty Citigroup.

From its inception in the late 20th century, where it pioneered modern banking services, automatic teller machines, and credit card offerings, Citigroup has witnessed a relentless downward spiral since the housing crisis and financial meltdown of 2008.

Now, a collapse is nearer than ever before. Citigroup, one of the world's leading banks, has made a shocking announcement about the looming threat of a complete economic collapse.

 This alarming forecast comes amidst growing concerns over the state of the labor market, which has shown signs of deterioration that could have far-reaching consequences for the nation's economic stability. The warning has prompted governments, corporations, and individuals to prepare for an unprecedented economic calamity.

Before 2007, Citigroup stood prominently among the elite financial institutions in the United States, consistently delivering robust returns to its steadfast shareholders through both appreciating share prices and generous dividends.

 However, the culmination of the housing boom and the subsequent financial crisis pushed Citigroup to the brink, necessitating government intervention to navigate the resulting losses. Subsequently, Citigroup's stock struggled to regain its pre-crisis momentum, failing to recover from the setbacks of 2008.

Chase Bank and Citigroup have raised red flags, signaling a deep-seated issue within the banking sector. Nine percent of all bank branches in the U.S. have shut down since 2017. Earlier in the month, Citigroup informed the majority of its employees that they could work remotely for the final two weeks of December.

Workers are allowed to log in remotely from any location within their country of employment from Monday to December 29, a Friday, marking this week as the last in-person experience for many staff members this year, according to sources familiar with the situation.

 In contrast to last year when the perk was introduced, employees are now apprehensive about CEO Jane Fraser's comprehensive corporate reorganization, with some expressing concerns about the potential existence of their jobs next year. Citigroup has indicated that Fraser's assessment of the third-largest U.S. bank by assets will be concluded by the end of 2024.

https://www.youtube.com/watch?v=FI5Dw6Ya8KM

“Coffee With MarkZ” Thursday Morning Chat 10-17-2024

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: Good Morning and Hope Springs Eternal!!

Member: Well I hope today is our day!

Member: [blink blink] it’s Thursday already over half of October gone. Time flies when you’re not having fun, lol.

Member: The RV feels like a buddy waiting to ask his girl to marry him … quit dragging your feet, and do it already.

Member: Mark, what is the good word for today?

MZ: “Iraq Parlianment expects to vote on Economic Reform laws soon”

Member” “Soon” is a 4 letter word.

MZ: This has to do with the Industrial investment law, and to me this is very important and one of the clear signs that we saw in their “white papers”. They are spelling out everything they have to do to support a higher rate.  They are doing the economic reforms to support this higher rate and lift up all Iraqis.

Member: Wondering how many steps are in Iraq before the process is done and we can RV?

MZ: “ Today Kurdistan government announces September salary payments”  they used to be a year or 6 months behind…but now in October they announce paying September salaries. To me this means money is moving. This is n HCL requirement that is happening. I think HCL is done and they are hiding the announcement.

MZ: “Finance launches third issue of Injaz government bonds for public subscription”  these are all brand new investment bonds in Iraq. It has a heck of an interest rate and stays denominated in IQD. The first round was only for Iraqi citizens but now it looks like this round is open to all others. I am hoping we have a revaluation before the bonds can be purchased

Member: The Injaz/Enjaz will be available April 15th through May 15th. interesting timing

Member: Any historic bond news or is it quiet as usual?

MZ: No money movement yet….some of the other bond holders had to put together more paperwork and are scheduled for next week. These are bonds that are other than the German bonds. We ned them to start seeing real spendable money. That will be when we start celebrating 

Member: I think  all the silent bond holders are under a nda possibly?

Member: How many times do they need to update paperwork and get put out another week?? Sounds like a big circle jerk session to me.

Member: They are supposedly working on German bonds now…Mark is talking about other bonds like Asian bonds and Zim bonds for next week.

Member: Mike Bara thinks maybe Iraq will go alone at first

Member: Iraq may be sick and tired of waiting on the rest of the world ….I sure am

Member: Re Mike Bara intel. If we go cash in Dinar/Zim if GCR doesn’t go…can we still redeem the other currencies when they go?

Member: Question: If Iraq goes first, will we be able to get SKR’s for our other currencies in advance of a GCR?

Member: If Iraq goes alone, can we just go to bank and cash in our Dinar and still be allowed to go to Redemption Center when the rest go?? Like Zims, Dong, etc. I don’t want to jeopardize things.

Member: you can go twice if they revalue at different times.

Member: I would be excited if Iraq went alone…..It would give all of us relief and make the rest of the world “hurry up” to catch up…..imo

MZ: I still believe all currencies are going together.

Member: (From dinar Guru)Guru Mnt Goat  Iraq is going to experience a “redenomination” of their currency meaning to execute the process of swapping out larger three zero notes for newer...lower denominations ...when you take money out of circulation...You cause deflation, which is revaluing your currency or making it worth more. There is also all the other assets and variables involved that will FORCE the system to bring back the dinar to its nominal value, finally. They are...doing this redenomination...to “normalize” their currency back to their “normal” denominations, as before the sanctions took place. They will also need a “normalized” rate and not this current “suppressed" rate...

MZ: Yes….spot on

Member: Last night, Frank said the first payroll is retro back to Feb thru August at the old rate, the second (possibly two weeks later?) is supposed to be at the new rate...

MZ: It could be….but to me it makes more sense to pay them at the old rate and then change the value.

Member: Did iraq just open a dinar redemption center?

MZ: They opened “deposit only” banking locations  to deposit cash in for the electronic banking system. The Iraqi people have more faith in the banking new banking system that is effective and efficient and cleaning up corruption from businesses. They can trace every transaction. And when the value changes…they don’t have to rush to the banks.

Member: I recently heard to expect the RV between the 22nd and 26th of October

MZ:  Based on what I am hearing out of the bond side…that makes sense.

Member: it is getting real ppl, get ready if you are not already

Member: Let's get this RV party started

Member: Thank you Mark for being a beacon of positivity .

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!

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Youtube:    https://www.youtube.com/watch?v=ME6eNSyfbp0

Iraq News Highlights and Points To Ponder Thursday AM 10-17-24

They Brought In About 4 Billion Dollars.. Iran Receives More Than 4 Million Tourists, Led By Iraq, In Six Months

Wednesday,10-16-2024 Taisir Al-Asadi  The Iranian Ministry of Tourism revealed today, Wednesday, that Iraq topped the list of tourists arriving in Iran during the first half of this year.

Deputy Minister of Tourism, Ali Asghar Shalbavian, said, "Iran received more than 4 million and 168 thousand tourists in the last six months, bringing in about 4 billion dollars."

He added, "Most of the tourists entering Iran are from Iraq, Afghanistan, Turkey, Pakistan, Azerbaijan, Armenia, India, the Gulf states, China and Russia, respectively." https://non14.net/public/171135

Parliamentary Committee Talks About Economic Reform Law: It Reached Parliament Months Ago

Policy  2024-10-17 | 172 views   Sumerian News – Politics  Expected Committee Economy, Industry and Trade Parliamentary Committee, voting on the economic reform law during the next few days.

He said Deputy Committee Chairman Yasser Al-Husseini said, “The law reached the Council months ago. ”Representatives In general and to Committee The economy in particular, and it includes all laws that include the economic aspect,” according to the newspaper. the morning Official.

He added, "The committee held many workshops at all levels, whether for businessmen or industrial and economic experts," stressing that "the committee is proceeding with reading this."the lawAnd work on voting on it during the next stage in cooperation withCommitteesOther specialists.”

Al-Hussaini pointed out that “there are observations, whether fromRepresentativesOr by experts, and it will be included in a paper prepared alongside the law,” noting that “the committee is determined to vote on it with the available capabilities for what it deems important in this.”the lawWhich can bring about a major reform in the country's economic reality."

He also stressed "the importance of the Industrial Investment Law for the public and private sectors, to accurately diagnose this partnership," indicating that "the contracts concluded in accordance with thisthe law“It will be beneficial and profitable for both parties, unlike some contracts that have more negatives than positives in the industrial sector, which oblige the state to long-term, impossible conditions.”

He continued, “The committee is proceeding with voting on the industrial investment law, which is no less important than other laws, despite some objections that have prevented voting on it so far,” stressing that “the final stage of voting has been reached after consensus was reached between the political blocs objecting to its wording.”  LINK

Kurdistan Finance Deposits More Than 77 Billion In Non-Oil Revenues Into Baghdad Treasury

Local | 10/16/2024   Mawazine News - Baghdad   The Ministry of Finance and Economy in the Kurdistan Regional Government announced today, Wednesday, the transfer of more than 77 billion dinars to the federal treasury from the region's non-oil revenues.

The ministry indicated in a statement received by "Mawazine News", that "an amount of 77 billion, 841 million, and 761 thousand dinars was transferred to the bank account of the Federal Ministry of Finance at the Central Bank of Iraq / Erbil branch."

It continued, "This amount represents the share of the general federal treasury from the non-oil revenues of the Kurdistan Region of Iraq for the month of June." https://www.mawazin.net/Details.aspx?jimare=256012

The Trial Period For Raising The Prices Of Improved Gasoline Has Ended, And The Amount Of Revenues Is “Absent”

2024-10-17 By Sotaliraq  The Iraqi government seems to be hesitant about the public outrage if it reveals the results of raising the prices of “improved gasoline,” especially since the pilot plan ended more than a month ago, which indicates that there are “hidden obstacles” behind the issue, according to observers.

On March 26, 2024, the Council of Ministers voted in a session chaired by Mohammed Shia al-Sudani to increase the price of improved gasoline from 650 dinars per liter to 850 dinars per liter, and premium gasoline from 1,000 dinars to 1,250 dinars per liter, starting from May 1 for a period of 3 months, after which the situation will be re-evaluated.

According to expert estimates, Iraq lost approximately 3 trillion Iraqi dinars on importing improved gasoline (which is the value of government support for improved gasoline) during 2023, stressing that these numbers have been the same for years.

The government has not yet received the evidence,

and Iraqis have strongly criticized the decision to increase fuel prices, considering that this step “is sufficient to raise the prices of all materials in the markets.”

Speaking of numbers, the Oil Products Distribution Company said (July 16, 2024) that it sold about 977 million liters of gasoline (improved, regular, and super) during the month of June of this year, without disclosing the financial returns from these numbers.

In this regard, economic expert Nabil Jabbar Al-Tamimi believes that “Iraq’s imports of petroleum derivatives have increased over the past four years, as a result of the increase in consumption and the growing demand for fuel (high-octane improved) that local refineries do not provide.”

Al-Tamimi says that “annual fuel imports have reached about $3 billion, which is a large number and unreasonable for a country considered one of the largest oil producers to import gasoline at these numbers.”

The latest government move came months ago, according to Al-Tamimi, as a bold step to raise the prices of some petroleum derivatives by 20-30%, stressing that “this step was accompanied by the government’s opening of the Karbala refinery, and also the return of production lines in the Baiji refinery.”

This year, the Iraqi government reopened the northern refinery in Baiji in Salah al-Din Governorate after rehabilitating it, following its closure for more than 10 years. It also announced at the end of last year the opening of the Karbala oil refinery with a production capacity of 140,000 barrels per day, including “improved gasoline.”

Al-Tamimi added, “These refineries were able to cover a large percentage of imports, which amounted to 15 million liters per day,” adding, “Such a step may contribute at the end of the year to saving large amounts of money that go to imports, provided that the government makes reforms to the laws of public companies, including oil refining and distribution companies, to increase the treasury’s share of these revenues that came as a result of government steps to establish new refineries and open production lines, in addition to setting a new price for oil derivatives.”

A few days ago, the Ministry of Oil issued a new statement about “improved gasoline,” confirming that Iraq will achieve self-sufficiency in improved gasoline next year, while confirming that it has achieved self-sufficiency in gas oil and kerosene products.

The decision to raise gasoline prices will continue for a long time.

According to Nabil Al-Marsoumi, an economics professor in Basra, the cost of importing improved gasoline in 2022 is 1,700 dinars per liter, while the cost of importing regular gasoline is 900 dinars per liter, indicating that the state is losing money on all types of gasoline.

In contrast, Mustafa Hantoush, an economic researcher, says, “The government is currently unable to restore the price of improved gasoline to what it was before, except after exports stabilize at the new Baiji and Karbala refineries.”

According to Hantoush, Iraq is still heavily dependent on importing improved gasoline, as local production cannot meet the large and growing need in the Iraqi market.

Hantoush continues, saying, “The Iraqi citizen is the one most affected by the decision, given that raising the price of fuel always leads to raising the prices of all food and non-food items in the markets in general.”

Regarding the possibility of raising prices again, Hantoush expects that “the government is not currently considering such a step,” stressing that “the current prices of both improved and regular gasoline will remain like this for a long time.”

According to readings by economic experts, the government has been providing support of up to 20% of the value of improved and super gasoline over the past years, which has placed a burden on the financial budget.

Iraq consumes between 27 million and 31 million liters of gasoline per day, while production is about 50% of the market's need, according to experts.

Iraq has also imported gasoline and gas since 2003 until now at a cost of about 70 billion US dollars, and it also imported 26 million liters of gas oil per month. LINK

Iraq's 2025 budget returns to the forefront, so what are the demands?

In video  2024-10-17 | 2025 budget... demands to prepare a realistic formula for next year's budget tables.  About the general budget tables for the year 2025, amid demands for the necessity of preparing them realistically, with the possibility of investing the surplus in preparing the next year’s budget to create economic comfort.   Follow this full report on Alsumaria!  LINK

Petroleum Products: The Percentage Of Imports Of Derivatives Decreased To 50 Percent

10/16/2024  Mawazine News - Economy   The Oil Products Distribution Company confirmed on Wednesday that the government's plans have contributed to reducing the percentage of oil derivatives imports to 50%, indicating the date for ending the import file completely.

The Director General of the Oil Products Distribution Company, Hussein Talib, said: "The state was spending approximately $4.5 billion annually on importing products such as gasoline, gas oil and kerosene, and this spending is gradually decreasing with the continuation of projects aimed at achieving self-sufficiency."

He added: "Last year witnessed intensive follow-up to complete the stalled projects in the Ministry of Oil within the ministry's policy and the government program of the current government, as the ministry has set a program within a time plan to complete these projects."

He pointed out that "the most important project completed at the end of 2023 is the Karbala Refinery Project, which is considered a major source of local products, as it refines approximately 140,000 barrels of crude oil per day, with products that conform to global marketing specifications, including Super 95 octane gasoline, gas oil, kerosene and all other products."

He continued: "Operating the Karbala refinery and completing the refining projects in the northern region has reduced the import of petroleum derivatives, and ended the import of gas oil and kerosene, and reduced the import of improved gasoline from 15 million liters to 7 million liters per day, or 50%."

He stressed that "the Ministry of Oil is working to completely end the import of petroleum derivatives by 2025."   https://www.mawazin.net/Details.aspx?jimare=256029

Seeds of Wisdom RV and Economic Updates Thursday Morning 10-17-24

Good Morning Dinar Recaps,

Brazil Pushes BRICS to Shift From US Dollar, Advocating National Currencies in Global Trade

Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries.

As the group expands, discussions on alternative payment platforms are gaining momentum ahead of the BRICS summit in Kazan. Brazil aims to advance this initiative during its 2025 chairmanship, reflecting growing momentum among member states.

Brazil Advocates for National Currencies in BRICS Trade
Brazil’s Foreign Affairs Secretary for Asia and the Pacific, Eduardo Paes Saboia, stated on Tuesday that Brazil is advocating for a greater use of national currencies among BRICS member countries in global trade, aiming to reduce reliance on the U.S. dollar. 

Originally established in 2006 by Brazil, Russia, India, and China, the BRICS group was later joined by South Africa in 2011. In 2024, BRICS expanded further with the inclusion of Egypt, Iran, the United Arab Emirates (UAE), Saudi Arabia, and Ethiopia as full members.

Speaking to reporters, Saboia noted that discussions about this shift are already underway, stating that the issue of reducing the reliance on the U.S. dollar “has already been considered at meetings of finance ministers and heads of central banks” of the BRICS nations. Expressing optimism about the upcoming BRICS summit in Kazan, he was quoted by Tass publication as stating:

I hope that those discussions will be reflected in a certain way in the declaration in Kazan.

Saboia also confirmed that Brazil would continue pushing for an increased share of national currencies in trade among BRICS members during its chairmanship in 2025.

This initiative aligns with comments made by Russian Foreign Minister Sergey Lavrov in September, who mentioned that a report on alternative payment platforms for BRICS nations would be prepared for the Kazan summit. Lavrov said the report would explore “options for creating alternative payment platforms for settlements between BRICS member countries.”

Additionally, Dilma Rousseff, the president of the BRICS New Development Bank, revealed in October that the financial institution intends to “use national currencies for investing in the private sector of the economies of member states.” The Kazan summit will be a key event during Russia’s chairmanship of the organization, which has planned over 200 events this year.

@ Newshounds News™

Source:  Bitcoin News 

~~~~~~~~~

STELLAR ECOSYSTEM IMPLEMENTS BLOCKAID SECURITY FEATURES

Stellar’s Lobstr and Freighter Wallets are the first to receive the new Blockaid security features

Blockchain security firm Blockaid announced the integration of its advanced Onchain Detection and Response (ODR) technology on the Stellar blockchain, starting with the Lobstr and Freighter wallet applications.

According to an Oct. 17 announcement viewed by Cointelegraph, the strategic partnership will bring real-time threat monitoring and rapid response capabilities to the wallets, with further integrations planned.

Blockaid’s Web3 services
Blockaid describes its services as being somewhat like an antivirus software for Web3 decentralized applications.

Ido Ben Natan, CEO of Blockaid, told Cointelegraph that the first wave of enhancements “alerts users whenever they interact with a dangerous transaction, DApp, or token.” He added that “by flagging malicious interactions, we’re protecting millions of users from scams and hacks.”

According to the company’s announcement:

“Blockaid’s Web3 security technology, trusted by Coinbase, Stellar, and Metamask, has scanned over 4.5 billion transactions, prevented more than 100 million attacks, and defended against potential losses exceeding $4 billion.”

In just the first half of 2024 alone, Blockaid inked deals with a number of blockchain firms in the industry including a Coinbase Wallet integration in March, and partnerships with 1inch and Avalanche Core Wallet in June.

Stellar
Stellar bills itself as a decentralized open-source blockchain platform for decentralized finance (DeFi), assets, and payments. Its primary token, XLM, has a market capitalization of $2.8 billion as of Oct. 16.

It’s purported to be faster and more efficient than more popular blockchain platforms such as Bitcoin thanks to its Federated Byzantine Agreement (FBA) algorithm, which handles consensus through a streamlined protocol.

As Cointelegraph reported in August, France-based fintech company Next Generation and Ireland-based electronic money institution (EMI) Decta announced a plan to reintroduce a euro-pegged stablecoin, EURT, on the Stellar blockchain.

The launch of EURT signifies a period of perceived relief from regulatory uncertainty for cryptocurrency and blockchain firms operating in the European Union. By all accounts, the stablecoin market appears to be surging under the Markets in Crypto-Assets (MiCA) regulation and increasing legal clarity.

@ Newshounds News™

Source:  CoinTelegraph 

~~~~~~~~~

AUDIO REPLAY BOB LOCK: OCT 16, 2024 | Youtube

Bob Lock discusses his new book, "Managing sudden wealth through smart team building" as well as what the future might bring with a new financial system and ways to protect yourself with a possible stock market crash and/or bank failure.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

🌍 Navigating Financial Uncertainty: Protect Your 401(k) and Assets!  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Thank you Dinar Recaps

News, Rumors and Opinions Thursday AM 10-17-2024

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. 17 Oct. 2024

Compiled Thurs. 17 Oct. 2024 12:01 am EST by Judy Byington

Tues. 22 Oct. to Thurs. 24 Oct. BRICS Summit To Announce Global Currency Reset. The event in Kazan hosting 24 leaders, 32 countries will initiate a massive shift in macroeconomics through the arrival of its BRICS Pay system. The event is expected to be the largest foreign policy event ever held in Russia. That should be a massive moment for the global south and its continued efforts toward increased competition with the West.

https://watcher.guru/news/who-will-attend-brics-summit-2024-key-leaders-confirmed https://www.dailynewsegypt.com/2024/10/13/brics-summit-in-kazan-to-host-24-leaders-32-countries

On Sun. 27 Oct. into Mon. 28 Oct. 2024 Project Sandman (US Dollar crash) was expected to kick off.

~~~~~~~~~~~~~

Global Currency Reset:

Wed. 16 Oct. 2024 TNT Tony: “Everything that was delaying the RV has already been taken care of. There is not going to be a war. The banks have a date and time. It is between now and Sunday 20 October 2024. It could be two hours after this call. I will not have a date and time in advance. We will have 10 days to rescue Zim, after that we are out of luck. According to the three-letter agencies, it will happen before Sunday. Everyone is excited for the RV again (because there is not going to be a war).”

Tues. 15 Oct. 2024 Wolverine: “I can assure you that things are happening this week. There is a lot of movement in Reno. Whales are traveling to Reno. A Whale friend of mine got paid in Zurich. I heard from Zurich that we are going to be paid this week.”

Wed. 16 Oct. 2024 MarkZ: “A number of my bond contacts swear this is our week. I think anywhere between now and the e******n is most likely. I very much believe it will be a shotgun start. I think we will see some of the historic bonds go then “Bam” things will start ripping. Everything going at once. Groups are aggregating other bonds to go after the German bonds. Zim bonds are on that list for next week. I got a report that Dragon bonds are being pulled together as well. At least we are starting to get some activity other than German bonds. From the Redemption /wealth management side-they are ready, working and being told to stay close. They do not yet know timing.”

Tues. 15 Oct. 2024 TNT: “There’s a new date and time. I’ll explain tomorrow.”

Tues. 15 Oct. 2024 Anon: “Blockchain went live on Monday. They have moved from the SWIFT System to the new Quantum Financial System. That means 200 countries and 11,000 institutions are live on the system. Expect some downtime with banks and ATMs not accessible. They couldn’t go live until a certain person was taken from his position.”

Tues. 15 Oct. 2024 Anon: SSI (Social Security Disability recipients) will receive two checks in November.

Tues. 15 Oct. 2024 Anon: “I received some preliminary information last evening that I couldn’t confirm, then today I was included on an international call from several countries all over the world including US cities of NYC, Reno, Mia, plus Zurich, Hong Kong, and Iraq. The sum and substance of this call was all the in country banking and money reorganization that was to be introduced to the citizens this week and the CBI wanted this nation to announce our new currency in conjunction with them but if not then the CBI and Iraq would RV on their own. Per several on the call all requirements such as FOREX have been satisfied. Please remember I am just a messenger but they sounded very confident of this info.”

Tues. 15 Oct. 2024 Mike Bara: The Bondholder’s team was told they would be “contacted” about the funds process in the “midnight-to-midnight” window. Turns out they were. They have now been told that funds are good to release starting tomorrow Wed. 16 Oct. 2024. I know the time but can’t say it.

Wed. 16 Oct. is designated as an official celebration Day for Iraq and the day they will pay their contractors in the new Dinar Rate.

Wed. 16 Oct. 2024: Declassification of Information: NESARA GESARA, White Hats, Quantum Financial System (QFS), Banking Cartels, Brunson Brothers, and Empowerment of the People! – amg-news.com – American Media Group

Tues. 15 Oct. 2024: BOOOOM! NESARA GESARA Implements the Ultimate Global Reset: The Most Complete List of 30+1 Shocking Protocols Ever! – amg-news.com – American Media Group

~~~~~~~~~~~~

Judy Note: The below is in my opinion only:

Only exchange at a licensed Redemption Center. If you exchange at a bank you will get a MUCH LOWER Rate, and thus much less money, on your exchange.

The Zim can only be redeemed for the first ten days after appointments are made available. After those ten days it is worth nothing.

You can only exchange once because they are concerned about “double dipping,” where a person exchanges and then goes out and buys more and then tries to exchange it. They will not allow that.

Take whatever time is offered you for your exchange appointment no matter what it is. If you don’t, you will be put at the end of the line.

You will likely be required to sign a Non Disclosure Agreement (NDA) about the specifics of your exchange. Read it carefully before exchanging and take it seriously. If you break that agreement, they will confiscate all your monies.

It is my understanding that if you are married, you both must be present at your exchange and you both have to sign the NDA.

It is wise not to take anyone with you to your exchange. If you do they will have to sign an NDA just like you. If they break that NDA you will lose all your monies.

If your circumstances are such that it is difficult for you to go to your exchange they will make arrangements with the Military to take you there and bring you back home.

Remember, everything is tracked on the Quantum Computer. Your first exchange appointment is your last exchange appointment.

If you have questions ask them to the person on the other end of the line when you make your appointment.

One chance only to exchange, Seriously Savage on Telegram: “I have a friend who has been working with the Treasury (contractor.) He told me that we will get one bite of this apple – ONE. They are concerned about “double dipping.” They don’t want people to run to the bank, exchange, then go buy more currency and attempt it again. My friend is handling the database with currency holders. If you go to the bank to exchange before your appointment, the bank will take your contact information because they are required to inform the Treasury that you’ve exchanged – The Treasury will know. Your name and contact info will be marked as “already exchanged” and you will not be given a private appointment. That means if you also have bonds, you won’t be able to redeem them. You all can make your own decision, but it might behoove you to wait just in case this is what they’re doing.”

Read full post here:  https://dinarchronicles.com/2024/10/17/restored-republic-via-a-gcr-update-as-of-october-17-2024/

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

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

Frank26   The HCL is done.  It is completed.  Sudani got it.  It only waits for the new exchange rate like everything else.   The fact they keep talking...about it over and over again is because it is about to be given...The moment you  see the HCL, you will see your new exchange rate...

Mnt Goat  Iraq is going to experience a “redenomination” of their currency meaning to execute the process of swapping out larger three zero notes for newer...lower denominations ...when you take money out of circulation...You cause deflation, which is revaluing your currency or making it worth more. There is also all the other assets and variables involved that will FORCE the system to bring back the dinar to its nominal value, finally. They are...doing this redenomination...to “normalize” their currency back to their “normal” denominations, as before the sanctions took place. They will also need a “normalized” rate and not this current “suppressed" rate...

Will They Float the IQD? Parallel Market vs. Black Market

Edu Matrix:  10-16-2024

Will They Float the IQD? Parallel Market vs. Black Market Mybe they will float the Iraqi Dinar to be rid of the dual currency rate issues that have caused serious protest. In this video viewers learn the difference in Argentina's Parallel Market and Iraq's Black Market and how it can affect the economy.

https://www.youtube.com/watch?v=8Kk4Fah47t4

Jim Willie: Expectations For BRICS Summit, 'The Unit', & De-Dollarization

Arcadia Economics:  10-16-2024

In part 2 of our interview with Jim Willie he talks about what he believes is happening with the BRICS, their proposal for a partially gold-backed 'Unit,' and the current status of their de-dollarization plans.

 As always, Jim had plenty to say, and you'll want to click to watch this one now!

https://www.youtube.com/watch?v=iL8iYyadPrg

“Tidbits From TNT” Thursday Morning 10-17-2024

TNT:

Tishwash:  Washington: We support Iraq’s economic reform agenda, updating the budget and enhancing transparency 

The United States affirmed, today, Thursday, its commitment to supporting the economic reform agenda in Iraq, including updating the budget and enhancing transparency.

“I was pleased to meet with Finance Minister Taif Sami Mohammed,” said US Ambassador to Baghdad Alina Romanowski. “Economic diplomacy is a fundamental pillar of the comprehensive US-Iraq partnership.”

She added, "The US government is committed to supporting Iraq's economic reform agenda, including updating the budget and enhancing transparency."   link

Tishwash:  Al-Sudani: The government has regained the confidence of citizens

“There is no stopping in implementing projects and following up on them everywhere, and local governments are the second arm of the state after the ministries.” This is the approach that Prime Minister Mohammed Shia al-Sudani relied on, who confirmed that the important achievement that was made is that his government was able to restore the confidence of citizens, especially in the service aspect, pledging to continue this.

The Prime Minister visited Diyala Governorate yesterday, Wednesday, and opened the (Baghdad-Khalis Road) with a length of (60) km, round trip, and several other projects, while he announced a package of new projects.

Al-Sudani said during the visit: "Diyala represents a miniature Iraq with its national diversity and has made many sacrifices, and it is shameful to talk about infrastructure in the year (2024)." He explained that "following up on important projects through field visits to the governorates is an approach followed to determine the implementation rates and the most important problems and obstacles," stressing "the commitment to the principle of working in the spirit of one team between the federal government and local governments, which are the second executive arm of the government after the ministries."

The Prime Minister stressed that "the government has regained citizens' confidence, which is an important achievement that must continue, especially in the service sector," noting that "infrastructure projects are a priority for the government, and it is imperative to complete them, especially the stalled ones." He also announced "the formation of a committee that will begin its work next week to follow up on the outcomes of his visit to Diyala Governorate, and submit recommendations related to it to the Council of Ministers."

Al-Sudani directed the necessity of completing major service projects within their specified timeframes, appreciating the role of all workers in these projects that the government has placed among the priorities of its government program.   link

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

Tishwash:  ILO: Iraqi government has developed programmes to help facilitate transition to formal economy

The International Labor Organization confirmed on Wednesday that the current government has developed programs and policies that help facilitate the transition to the formal economy, while indicating that informal work represents a crucial component despite its problems in economic activity.

The International Labor Organization's country coordinator, Maha Kattaa, said at the national conference on informal work and paths towards decent work in Iraq, which was followed by "Al-Eqtisad News", that "this conference addresses a very important and urgent issue, which is the issue of the informal economy and informal work," noting that "the informal economy refers to the group of economic activities carried out by workers and economic units that are not covered either in law or in practice by formal arrangements or may be covered sufficiently."

“Informal or irregular work is a complex, multifaceted phenomenon that includes a variety of activities, transactions and individuals who work outside formal businesses but sometimes also work within formal businesses,” she added, noting that “informal work represents a crucial but somewhat problematic component of economic activity while the informal sector can be a mechanism for addressing and alleviating poverty.”

She explained that "most of the poor work in the informal sector, so we should not look at this sector as unfair, but also as a sector that absorbs the poor and attracts individuals with low skills and low educational attainment. Therefore, the issue of looking at this sector is very important because it absorbs this number of workers."

The sector explained that "the problem lies in crises and shocks when they occur in any country, including the recent crisis with Corona. Those who were affected more than the workers are the workers in the informal sector because there was no mechanism to reach these workers. On the contrary, the workers who work in the organized sector have records that show where these workers are located."

She continued: “It was difficult to provide some services to workers in the informal sector, so we sometimes call them invisible workers, because it is really difficult to reach them, in addition to companies and institutions that operate in an informal manner, even in crises, there is a difficulty in how to reach these companies to help them in most countries, and during the Corona crisis, aid packages were provided to companies, but we did not reach companies and institutions if they were not regular.”

She pointed out that "informal work is not limited to Iraq, it exists all over the world, but the percentage of informal work or informal economy varies from one country to another," indicating that "the International Labor Organization adopted in 2015 a recommendation called the recommendation for the transition from the informal economy to the formal economy, and recommendation number 204 approved guiding policies for all countries that wish to complete the transition process to help them in this process."

She pointed out that "there can be flexibility to absorb shocks while enhancing the creation of decent job opportunities, and we must look at the Iraqi economy with the structure of the economy that relies heavily on oil and contributes significantly to exports, and that more than 90% of exports in Iraq come from oil, and the revenues that come from oil are what contribute to the government budget and also to the gross domestic product," noting that "the oil sector does not employ large numbers, so we notice that the gross domestic product comes from the resource, and the labor comes from another source."

She stated that "small, medium and large companies play a role in creating job opportunities in the construction, services and manufacturing sectors, which create job opportunities in Iraq," explaining that "women work more in the informal sector in most countries of the world, while in our Arab region, men work more in the informal sector for several reasons, the most important of which is that women in our Arab region and also in Iraq prefer to work either in the public sector or in the organized private sector, as job opportunities in the informal sector do not attract women. This issue is attributed to the advantages offered by the informal private sector, because it is an unprotected sector that does not provide decent job opportunities or social security. There is no protection for workers, so women are reluctant to enter the labor market, especially in the sectors."

“We commend the current government for taking major measures and procedures to facilitate the transition through new legislation, including the Social Security Law and the amendment of the Labor Law in 2015, all of which helped move forward with the transition process,” she added, “There are current material policies, plans and programs being implemented by the government, including the recently launched National Development Plan, work to update the private sector development strategy, the policy of regulating small projects and developing small and medium enterprises, and others. All of these programs and policies will also help facilitate the transition process.”  link

Mot.. As More and More Seasoned I Become 

Mot: Wise old Earl  

Iraq Economic News and Points To Ponder Wednesday Afternoon 10-16-24

Minister Of Finance Stresses The Importance Of Partnership With The United States To Achieve Sustainable Development In Iraq

Tuesday 15 October 2024 | Economic Number of readings: 345  Baghdad / NINA / Minister of Finance Taif Sami stressed the importance of partnership with the United States to achieve sustainable development in Iraq.

The Ministry of Finance said in a statement: "Minister Taif Sami received the US Ambassador to Baghdad, Alina Romanowski, and discussed ways to enhance bilateral relations, with a focus on economic cooperation."

The statement added: "The meeting discussed the development road project that links Iraq to Europe via Turkey and is considered one of the largest strategic and vital projects, making Iraq the link between Asia and Europe."

During the meeting, the efforts made by the Iraqi government to achieve economic reforms were also discussed, and Minister Taif Sami stressed the importance of partnership with the United States to achieve sustainable development in Iraq and enhance the financial stability that Iraq seeks at this stage.

Sami pointed out that: "Economic cooperation between the two countries is one of the main factors for achieving these goals."

For her part, the US Ambassador affirmed the United States' commitment to continue supporting Iraq in several areas, especially in the economic and financial aspects, as part of the strategic partnership between the two countries." /  https://ninanews.com/Website/News/Details?key=1162376

ILO: Iraqi Government Has Developed Programmes To Help Facilitate Transition To Formal Economy

International Labour Organization logo  Money and business Economy News - Baghdad

The International Labor Organization confirmed on Wednesday that the current government has developed programs and policies that help facilitate the transition to the formal economy, while indicating that informal work represents a crucial component despite its problems in economic activity.

The International Labor Organization's country coordinator, Maha Kattaa, said at the national conference on informal work and paths towards decent work in Iraq, which was followed by "Al-Eqtisad News", that "this conference addresses a very important and urgent issue, which is the issue of the informal economy and informal work,"

noting that "the informal economy refers to the group of economic activities carried out by workers and economic units that are not covered either in law or in practice by formal arrangements or may be covered sufficiently."

“Informal or irregular work is a complex, multifaceted phenomenon that includes a variety of activities, transactions and individuals who work outside formal businesses but sometimes also work within formal businesses,” she added, noting that “informal work represents a crucial but somewhat problematic component of economic activity while the informal sector can be a mechanism for addressing and alleviating poverty.”

She explained that "most of the poor work in the informal sector, so we should not look at this sector as unfair, but also as a sector that absorbs the poor and attracts individuals with low skills and low educational attainment. Therefore, the issue of looking at this sector is very important because it absorbs this number of workers."

The sector explained that "the problem lies in crises and shocks when they occur in any country, including the recent crisis with Corona. Those who were affected more than the workers are the workers in the informal sector because there was no mechanism to reach these workers.

 On the contrary, the workers who work in the organized sector have records that show where these workers are located."

She continued: “It was difficult to provide some services to workers in the informal sector, so we sometimes call them invisible workers, because it is really difficult to reach them, in addition to companies and institutions that operate in an informal manner, even in crises, there is a difficulty in how to reach these companies to help them in most countries, and during the Corona crisis, aid packages were provided to companies, but we did not reach companies and institutions if they were not regular.”

She pointed out that "informal work is not limited to Iraq, it exists all over the world, but the percentage of informal work or informal economy varies from one country to another," indicating that "the International Labor Organization adopted in 2015 a recommendation called the recommendation for the transition from the informal economy to the formal economy, and recommendation number 204 approved guiding policies for all countries that wish to complete the transition process to help them in this process."

She pointed out that "there can be flexibility to absorb shocks while enhancing the creation of decent job opportunities, and we must look at the Iraqi economy with the structure of the economy that relies heavily on oil and contributes significantly to exports, and that more than 90% of exports in Iraq come from oil, and the revenues that come from oil are what contribute to the government budget and also to the gross domestic product," noting that "the oil sector does not employ large numbers, so we notice that the gross domestic product comes from the resource, and the labor comes from another source."

She stated that "small, medium and large companies play a role in creating job opportunities in the construction, services and manufacturing sectors, which create job opportunities in Iraq," explaining that "women work more in the informal sector in most countries of the world, while in our Arab region, men work more in the informal sector for several reasons, the most important of which is that women in our Arab region and also in Iraq prefer to work either in the public sector or in the organized private sector, as job opportunities in the informal sector do not attract women.

This issue is attributed to the advantages offered by the informal private sector, because it is an unprotected sector that does not provide decent job opportunities or social security. There is no protection for workers, so women are reluctant to enter the labor market, especially in the sectors."

“We commend the current government for taking major measures and procedures to facilitate the transition through new legislation, including the Social Security Law and the amendment of the Labor Law in 2015, all of which helped move forward with the transition process,”

she added, “There are current material policies, plans and programs being implemented by the government, including the recently launched National Development Plan, work to update the private sector development strategy, the policy of regulating small projects and developing small and medium enterprises, and others. All of these programs and policies will also help facilitate the transition process.”   33 views   10/16/2024 https://economy-news.net/content.php?id=48801

Kurdistan Finance Deposits More Than 77 Billion In Non-Oil Revenues Into Baghdad Treasury

Local | 10/16/2024  Mawazine News – Baghdad  The Ministry of Finance and Economy in the Kurdistan Regional Government announced today, Wednesday, the transfer of more than 77 billion dinars to the federal treasury from the region's non-oil revenues.

The ministry indicated in a statement received by "Mawazine News", that "an amount of 77 billion, 841 million, and 761 thousand dinars was transferred to the bank account of the Federal Ministry of Finance at the Central Bank of Iraq / Erbil branch."

It continued, "This amount represents the share of the general federal treasury from the non-oil revenues of the Kurdistan Region of Iraq for the month of June." https://www.mawazin.net/Details.aspx?jimare=256012

Oil Steadies After Sharp Declines As Regional Uncertainty Persists

Arabic and international  Economy News - Follow-up  Oil prices steadied on Wednesday, supported by OPEC+ cuts and uncertainty over developments in the Middle East conflict, but expectations of abundant supply next year put pressure on prices.

Price movements

Oil prices fell more than 4 percent to their lowest in nearly two weeks on Tuesday on weak demand expectations and after a newspaper report that Israel would not strike Iranian nuclear and oil sites, easing concerns about supply disruptions.

By 09:30 GMT, Brent crude futures were up 16 cents, or 0.2 percent, at $74.41 a barrel.

While US West Texas Intermediate (WTI) crude futures fell 19 cents, or 0.3 percent, to $70.39 a barrel.

However, fears remain of an escalation of the conflict between Israel and the Iranian-backed Lebanese Hezbollah group.

OPEC+ production cuts will remain in place until December, when some OPEC members begin to increase their production.

On the demand side, OPEC and the International Energy Agency this week lowered their forecasts for global oil demand growth in 2024, with Chinese demand the main factor behind the downgrade.

China may raise an additional 6 trillion yuan ($850 billion) in special treasury bonds over three years to stimulate the slumping economy, local media reported.

Currently, the market is awaiting the latest data on crude and fuel inventories in the United States.

The American Petroleum Institute is due to release its weekly report later on Wednesday, while the Energy Information Administration data is due on Thursday.

Analysts polled by Reuters expected crude inventories to rise by about 1.8 million barrels in the week to October 11.   Views 43   10/16/2024 - https://economy-news.net/content.php?id=48798

About $253 Million Decrease In Central Bank Sales In Today's Auction

Banks  Economy News – Baghdad  The Central Bank of Iraq announced today, Wednesday, its sales of hard currency, which amounted to more than 253 million dollars in today's transactions, according to the official price of 1310.

The bank's data showed that the total internal cash withdrawals amounted to $7,400,000, while the total amounts of transfers abroad, including remittances and credits, amounted to $246,097,545, while the total sales amounted to $253,497,545.  https://economy-news.net/content.php?id=48797

Sharp rise in dollar price shakes markets as stock market closes

10/16/2024   Mawazine News – Economy   The US dollar exchange rate witnessed a rise in the markets of the capital Baghdad today, Wednesday, with the closure of the country's main stock exchange.

The dollar exchange rate rose with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 152,750 dinars per 100 dollars, compared to the price recorded in the morning, which amounted to 152,600 dinars per 100 dollars.

As for the dollar exchange rates in the exchange offices in the local markets in Baghdad, they also witnessed a rise, as the selling price reached 153,750 dinars per 100 dollars, while the buying price reached 151,750 dinars per 100 dollars.   yhttps://www.mawazin.net/Details.aspx?jimare=256018

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