Iraq News Highlights and Points To Ponder Monday 11-11-24
Economist Identifies Main Reason Behind Dollar's Rise
Today 11:46 Information / Baghdad.. Financial and banking researcher Mustafa Hantoush confirmed today, Monday, that the demand in the parallel market is the reason behind the rise in the dollar exchange rate. Hantoush said, in an interview with Al-Maalouma Agency, that "the main reason for the rise in the exchange rate of the dollar against the Iraqi dinar is the demand in the parallel market."
He added that "the huge trade with neighboring countries and the number of travelers estimated at millions caused an increase in demand in the parallel market," noting that "some small traders do not have licenses or companies to import."
Economist Identifies Main Reason Behind Dollar's Rise
Today 11:46 Information / Baghdad.. Financial and banking researcher Mustafa Hantoush confirmed today, Monday, that the demand in the parallel market is the reason behind the rise in the dollar exchange rate. Hantoush said, in an interview with Al-Maalouma Agency, that "the main reason for the rise in the exchange rate of the dollar against the Iraqi dinar is the demand in the parallel market."
He added that "the huge trade with neighboring countries and the number of travelers estimated at millions caused an increase in demand in the parallel market," noting that "some small traders do not have licenses or companies to import."
He explained that "fears of wars in the region push traders, markets and citizens to exaggerate the quantities imported and purchased, and also push some to save dollars."
He continued: "There are no problems in the Iraqi supply chains from (Turkey, Canada, Australia, China and India) and there are no concerns about the liquidity of the dollar in Iraq." LINK LINK
Among Them Is Iraq.. The Country That Bought The Most Gold In 10 Yea
Money and business Economy News - Follow-up Governments store thousands of tons of gold bullion in their vaults, as the precious metal is considered a safe haven. Iraq has become one of the most popular countries in the world in buying gold and boosting its reserves of the yellow metal.
The economic website "RBK" published a report, based on data from central banks around the world, the International Monetary Fund, the World Bank, and the World Gold Council, highlighting countries' purchases of the yellow metal from 2013 to 2023.
According to the report, central bank purchases in the world at the end of 2023 amounted to about 1,037 tons of gold, which is the second largest volume ever purchased on an annual basis.
The report showed that Russia, China and Turkey were at the forefront of gold buying countries during the mentioned period, as the three countries’ purchases amounted to 2,903 tons of the resonant yellow metal. https://economy-news.net/content.php?id=49703
Experts: Faw Port Is Iraq's Gateway To A Global Economic Future
Economic 2024/11/11 Economic circles agreed on the importance of opening five berths within the Grand Faw Port project, and considered it the first step towards correcting the paths of the Iraqi economy, as the project represents the first step in an ambitious policy to create major infrastructure in the country, serving all sectors without exception, and is an acceptable approach to diversifying the Iraqi economy and providing opportunities for a wide segment. It is hoped that the project will be completed in its three phases in 2028 with a total capacity of 91 million tons annually.
Prime Minister Mohammed Shia al-Sudani, who sponsored the ceremony of receiving the five berths of the Faw Port from the Korean implementing company, described it as “the people’s project,” and that it “gains great importance due to its connection to the development road project, which will link, starting from the Grand Faw Port, the economies of most countries in the region, and will be an outlet for achieving economic integration,” noting that Iraq remains a fundamental pillar in the global economy, and a historical part and passageway of the most important international exchange routes.
The Five Platforms
Al-Sudani pointed out the importance of the five docks in the Grand Faw Port, as they represent the backbone of the port project in its first phase, which will be completed next year according to the previous timetables. Huge commercial ships with large drafts have already docked on the port docks.
Real Transformation
Chairman of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, described the opening of the five berths in the Grand Faw Port as a real transformation in the paths of national and global trade.
He said: Today we are facing a launch to serve the national economy, as we have actually begun to revive the Iraqi infrastructure in the ports sector, as this step represents an advancement to the global level of services provided to the national economy.
The Biggest Project
Al-Zuhairi added that the port’s capacity for all its phases exceeds 90 million tons annually, a number that reflects the extent of the work required in this project in particular. When the larger project, the development road and its facilities and the Grand Faw Port, are completed, there will be a need for millions of specialists, and here everyone can imagine the reality of the performance required in such locations.
He pointed out that the country is facing a new phase and new institutions, which are being created with the development of work in this site, which has become global, as it has become the focus of attention of the world's major economies in the East and West of the world.
Starting Point
Economic expert Mitham Al-Bolani confirmed that the starting point of the development path is the port of Faw, which has become a reality in economic life and the first real infrastructure for developing the national economy and has a positive impact on the global economy, especially since the development path is being implemented in an Iraqi-Turkish-Emirati-Qatari partnership, and that the Turkish side, in its first steps, concluded a quadripartite agreement with Hungary, Serbia and Bulgaria with the aim of delivering goods to the farthest parts of the world.
He stressed that the port of Faw represents an important starting point for global trade in various directions, and thus this port has great economic feasibility, especially with the existence of the development road, as the port and the road complement each other, pointing out that Iraq will be a fertile and mature investment destination for manufacturing industries at the present time at the very least and strategically in the future.
Geographical Area
It is noteworthy that the member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said in a statement to the Iraqi News Agency (INA): The opening of the five docks and the completion of the investment in the Faw Port will contribute to supporting the development path, in addition to the fact that it will be part of the Silk Road, indicating that Iraq is located in a geographical area that makes it a link between the major countries, China and Europe.
Global Trade
Development Consultant Amer Al-Jawahri said: The Grand Faw Port is the first real step that facilitates the reality of global trade and connects the West of the world to its East by the shortest and least time-consuming routes. It will also enhance the volume of international trade for Iraq with the countries of East Asia, where there is a large volume of trade and achieves fluidity in this aspect.
He pointed out that completing all stages of the Grand Faw Port, as a starting point for the development path, will enhance the reality of the Iraqi economy, and Iraq will be a real attraction point with great and sustainable benefit for Iraq.
Executive Body
He pointed out that Iraq, through this port, will be of new benefit to European countries and the West in general, and they will develop tendencies to invest in Iraq and its regions close to this project.
Al-Jawahiri recommended establishing the executive body for the development road project, of which the Faw Port is an important part, complementary to the new road and railway projects and other projects in more than one economic joint, which is considered a necessity for this project.
Make Agreements
He pointed out the importance of concluding agreements with several countries that have a direct impact on the process of managing the integrated project, starting with the port and the development path with all its institutions.
He stressed the necessity of forming the Faw Economic Zone Authority, which will handle the issues of economic and industrial cities and the technological city, all the way to the tourist city, which is an important part of the region and of great benefit. Here, we stress the necessity of forming institutions and the authority with legislation, so that it will transcend the successive governments that have managed the country.
Starting Point
Economic expert Dr. Salwan Al-Nouri said: Iraq is distinguished by its geographical location, and this is something known to everyone without exception. We are at the point closest to the West and East of the world, and the country could be a starting point towards the two global poles, and this will happen sooner or later, and we have to work and start from this fact, and here we must know how to work and what is required during the next stage and we have entered the circle of real international interest, and we now have a port that concerns the economies of the world.
Re-Export
Al-Nouri stressed the need to move towards legislating the re-export law in a manner that is consistent with the importance of Iraq in the arena of international trade and the international economy, as this law allows Iraq to be a real starting point for developing the national economy, noting that this law allows companies to bring imports to Iraq and work on exporting them to various countries of the world again after dealing with them or dividing them, and in this matter there is a great benefit for the country. https://alsabaah.iq/105691-.html
“Indomie” In Iraq: A Popular Dish Or A Dollar Smuggling?
11/10/2024 Iraqi economic expert Nabil Al-Marsoumi raised an interesting question about the relationship between importing “Indomie” and dollar smuggling, based on data from the General Authority of Customs.
Al-Marsoumi said in a statement, “Is there a relationship between Indomie and dollar smuggling?” indicating that “Iraq imported about 64,185 thousand tons of Indomie in 2023 through all border crossings except the Kurdistan Region, at a value of 17.7 million dollars, or the equivalent of 23.6 billion dinars.”
He explained that "this number represents an increase of 18% compared to 2022."
Al-Marsoumi added that this number is likely to rise to more than $50 million annually, especially since two-thirds of Iraq’s imports are not registered with the General Authority of Customs, but rather pass through Kurdistan’s ports and illegal ports.”
Al-Marsoumi cited the US Federal Reserve’s surprise at the import bills for Indomie, which he described as very large and much larger than the announced figures.
He raised a question about whether these imports actually reflect the Iraqis' love for this food item or whether they represent a means of smuggling dollars abroad. LINK
The 5 Most Expensive End-of-Year Money Mistakes
The 5 Most Expensive End-of-Year Money Mistakes, According to Financial Advisors
By Laura Bogart October 25, 2024 GoBankingRates
These days, you might feel inundated with messages about your resolutions for the New Year before pumpkin-spice season even ends and Mariah Carey breaks out her high note on that iconic holiday classic. You get advertisements for gym memberships, meditation apps and green-eating meal plans — the same stuff you see every year. But you’re determined not to let next year be just like the last.
You’ve decided that this is going to be the year you get everything together, body, mind, and wallet. That’s admirable. While the will to change is a fantastic first step, you’ll go farther — and stay on your journey longer — if you understand the behaviors you don’t want to repeat. This includes the money mistakes that end up costing you big bucks every year — money that’s better where it belongs, back in your wallet.
The 5 Most Expensive End-of-Year Money Mistakes, According to Financial Advisors
By Laura Bogart October 25, 2024 GoBankingRates
These days, you might feel inundated with messages about your resolutions for the New Year before pumpkin-spice season even ends and Mariah Carey breaks out her high note on that iconic holiday classic. You get advertisements for gym memberships, meditation apps and green-eating meal plans — the same stuff you see every year. But you’re determined not to let next year be just like the last.
You’ve decided that this is going to be the year you get everything together, body, mind, and wallet. That’s admirable. While the will to change is a fantastic first step, you’ll go farther — and stay on your journey longer — if you understand the behaviors you don’t want to repeat. This includes the money mistakes that end up costing you big bucks every year — money that’s better where it belongs, back in your wallet.
GOBankingRates chatted with some financial experts to learn about the most expensive faux pas that can bleed your accounts, and how to correct them.
1. You Spend Too Much During the Holidays
If you get a little too holly jolly with your money during the holidays, you’re hardly alone. There are parties galore, with food to bring and outfits to wear. And, of course, the presents. It’s easy to overspend during the holidays, even if you think you’re getting the best prices through sales days like Black Friday or Cyber Monday. In fact, Erika Kullberg, attorney and personal finance expert and founder of Erika.com, said that the lure of these short-term deals can actually compel you to spend more than you intended.
“The promise of short-term deals can be super alluring and really hits us with that fear of missing out if we don’t grab the deal,” she said. “But more often than not, the sales really aren’t all that good, and [the items] will more than likely be available during the next big sale.”
She encourages you to resist the temptation to unearth your credit card whenever you’re tempted by those big sales. Sure, if there’s something you’ve really had your eye on and built into your budget, you can treat yourself. However, don’t just get it because it’s shiny and bright — and available. You might not get a lump of coal in your stocking, but you’ll possibly blow up your budget and rack up high-interest credit card debt.
2. You Get Too Generous
TO READ MORE: LINK
Dollar Needs to Be Gold-Backed Again, This Is How It’s Possible & Why Fed Needs Reform Now | Shelton
Dollar Needs to Be Gold-Backed Again, This Is How It’s Possible & Why Fed Needs Reform Now | Shelton
Kitco News: 11-11-2024
Money should be as trustworthy as gold itself, says Dr. Judy Shelton, Senior Fellow at the Independent Institute, former economic advisor to President Donald Trump, and author of Good as Gold.
Shelton explains why the dollar needs to be backed by gold again and how this can be achieved in today’s monetary environment.
She also argues that the Federal Reserve needs reform to save the U.S. dollar, examining the central bank’s mandates and misguided inflation targets.
Dollar Needs to Be Gold-Backed Again, This Is How It’s Possible & Why Fed Needs Reform Now | Shelton
Kitco News: 11-11-2024
Money should be as trustworthy as gold itself, says Dr. Judy Shelton, Senior Fellow at the Independent Institute, former economic advisor to President Donald Trump, and author of Good as Gold.
Shelton explains why the dollar needs to be backed by gold again and how this can be achieved in today’s monetary environment.
She also argues that the Federal Reserve needs reform to save the U.S. dollar, examining the central bank’s mandates and misguided inflation targets.
News, Rumors and Opinions Monday 11-11-2024
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 Mon. 11 Nov. 2024
Compiled Mon. 11 Nov. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Sat. 9 Nov. 2024 Wolverine: “The RV has started. Thank you God. Everyone’s saying that by Tues.12 Nov. we should have a shotgun start. Everything is going at once. The bankers had a meeting and said that Zurich has already started. The codes were locked in a couple of days ago. Remember Tues. 12 Nov. is when we expect things to roll.”
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 Mon. 11 Nov. 2024
Compiled Mon. 11 Nov. 2024 12:01 am EST by Judy Byington
Global Currency Reset:
Sat. 9 Nov. 2024 Wolverine: “The RV has started. Thank you God. Everyone’s saying that by Tues.12 Nov. we should have a shotgun start. Everything is going at once. The bankers had a meeting and said that Zurich has already started. The codes were locked in a couple of days ago. Remember Tues. 12 Nov. is when we expect things to roll.”
Thurs. 7 Nov. 2024 Bruce: Tier4b (us, the Internet Group) Exchanges should start on Tues. 12 Nov.
Tues. 5 Nov. 2024 Julian Assange: All Intel is saying “Next Week.”
Fri. 8 Nov. 2024: MILITARY INTEL! Global Strategic Impact: Starlink’s Military Applications, RVs &GESARA, and the Quantum Financial System – amg-news.com – American Media Group
Sun. 10 Nov. 2024: Behind the 1:1 Currency Revaluation in NESARA GESARA: Understanding a Global Economic Proposal for Wealth Redistribution! – amg-news.com – American Media Group
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Global Financial Crisis:
Sat. 9 Nov. 2024 Banks Are Failing: https://beforeitsnews.com/prophecy/2024/11/warning-banks-are-failing-again-your-money-is-not-insured-and-its-not-safe-2558527.html
Sun. 10 Nov. 2024: A Bill to abolish the Federal Reserve has 20 sponsors. Executive Order 13772 is in full effect. The new US Treasury is about to take over. https://x.com/VALELORDX/status/1854649815201653193
Read full post here: https://dinarchronicles.com/2024/11/11/restored-republic-via-a-gcr-update-as-of-november-11-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
There's a guy on TV saying Iraqis have the possibility of purchasing any commodity electronically immediately. FRANK: You see their money can move in and out of their country now freely. Yah! There's no more restrictions. Yah! The same things are happening with goods and services.
Militia Man The census will count the population, housing, industrial and commercial establishments, agricultural land and infrastructure. Displaced persons and refugees will not be included in the account...It's scheduled for November 20, 2024. It will be accompanied by a two-day curfew in all Iraqi provinces.
EU's Controlled Collapse & Full De-industrialization: EU to Start Buying Expensive LNG from the US
Lena Petrova: 11-11-2024
Veterans Day Coffee With MarkZ 11-11-2024
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, All!! I hope your weekend was fantastic, and Happy Veteran's Day!!
Member: Thank you to all the Veterans for all of their sacrifices for our country!
MZ: We give all the Veterans our utmost gratitude. Thank you
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, All!! I hope your weekend was fantastic, and Happy Veteran's Day!!
Member: Thank you to all the Veterans for all of their sacrifices for our country!
MZ: We give all the Veterans our utmost gratitude. Thank you
MZ: An interesting weekend in Iraq, We are joined for a reading on Armistice Day. We honor our Veterans.
Member: How much longer can they push this out, too many barely surviving..
MZ: We do not know the timing but, there is a massive push in Iraq to go before Dec. 10th. They say that’s when they want to be complete – so IMO they need to go sometime this month. That makes the most sense.
Member: Another guru said redemption center appointments should start on 26th, why would they start on Thanksgiving week?
Member: I would be Thankful to see the RV that week for sure. Or sooner!
Member: Many are saying that by Tues.12 Nov. we should have a shotgun start.?
Member: I listened to militiaman last nite...he doesnt think it will be 2025...but VERY SOON now!
Member: Goldilocks doesn’t think it will go until first part of 2025 because that is when some banking laws take affect.
MZ: Goldilocks may be right……but we will see.
MZ: So far this morning it is very quiet on the bond side. But that is to be expected. On the west coast they don’t start moving around until 2-3 pm est in the afternoon . I hope to have a very solid update on the bond side this evening.
MZ: CMKX also silent over the weekend.
Member: So no RV until Trump officially takes office on Jan 20th?
MZ: I have simply not heard that ……80-90% of my contacts believe we will be going before Dec 10th. There are a few outliers opinion that we wont be going until Trump is in….but the overwhelming majority believe we will go between now and Dec. 10th.
Member I beleive we are on the threshold.
MZ: In Iraq they were very busy and working over the weekend. That is where I am going to focus this morning.
MZ” “Government spokesman reveals the most important features of the Sudanese and Trump communication” This article really gets into the discussion. Trump believes Iraq can be a very calming influence in the region. They had spoken a number of times already. I believe at least 3 times since Trump was elected. The two sides stressed moving forward with relations between our countries and they also talked about money, technology and Iraq’s role in it…..you have to know Trump has a interest in iraqs ascension and change in Value. It would bring financial stability to the US and peace and prosperity to many parts of the world. This is very encouraging.
MZ: Iraq is talking right now about how many things they can now move forward on now that they could not move forward with before – when they did not know which administration was going to be running the US. It seems the Iraqi people are excited about Trump being elected as now they know where they stand and can move forward with their reforms ……I found that very interesting as I read their weekend news articles. .
MZ: Benjamin Netanyahu also spoke at least 3 times with Trump on to bring things to a conclusion in Israel and end the conflict.
MZ: “ A Turning Point in fiscal policies-What happens after the dollar movement monitoring platform?” this is all about the auctions . They talk about the mechanisms in securing the US dollar for trade. How is it now going to function? Well the Iraqi banks will be sovereign. They will be working with an organization in the US and this may shock people.
MZ: “The advisor for the Prime Minister announces the mechanisms of support of the US Treasury to Iraq” Not the Federal Reserve. So it’s the US Treasury in charge of the movement of money , securely moving money and handling loans to Iraq if any of them need forgiving or adjusting. So who is working with Iraq to make sure banks are modernized and secure? The US Treasury. No longer working with the Federal Reserve.
MZ: This is huge because we were told one of Trumps plans is to fold the Federal Reserve into the US Treasury and do away with the Fed as we know it now.
Member: I think this is huge…..and good by Jerome Powell.
Member: Stock market news is talking about Warren Buffet is getting ready to go on a massive shopping spree when the market recorrects
MZ: That makes sense
MZ: “ Parliamentary Finance reveals a move to question the Governor of the Central Bank of Iraq. We are working to change it” Iraq has some antiquated laws that Alaq is past the retirement age. Some say he should already be retired…..But parliament is working on changing that law so he can continue to work.I think this is important as they get close to changing their rate….
Member: Alaq needs to finish the RV that he started.
MZ: “ Elon Musk Reposts call to end the Federal Reserve Bank” He says the Federal reserve bank has deviated from the constitution and this is another reason why we should “End The Fed” The constitution does not allow for the Federal Reserve. So they can remove it. Elon Musk and Judy Shelton is a big fan of this. There is also growing influence for this by Rand and Ron Paul. We will see “End the Fed” picking up speed.
Member: Come on QFS and new USN asset backed currency!!!!.
MZ: “Sudani heads to Saudi Arabia to participate in Arab and Islamic summit” They are working on establishing peace in the middle east right now.
MZ: In Vietnam: “ Vietnam Central Bank ready to sell US dollars to keep exchange rate stable” so they are going to sell US dollars and bring back in Vietnamese dong off the streets. What did we say about the pivot and auctions ending….A similar thing is happening in Iraq. They pull Dinar and dong off the streets to support its value. I believe they are about to change their exchange rates.
Member: MarkZ, IYO, is the VND going to RV at or above $!?
Member: Even if worst case scenario all currencies go 1 to 1 at the start……It will be a huge ROI (Return on Investment) for all of us.
MZ: I still expect the dong to go at the same time.
Member: What is your gut prediction saying today Mark?
MZ: I am waiting for a bond update today before I give you that.
Member: Mark do you think some are the bond people are under an NDA?
MZ: Yes I do. But whether or not they have been paid- in all certainty I don’t.
Member: Do you think the Iranian Rial will go at the same time as the dong and dinar?
MZ: I do not think the Rial will be in the first basket. I wish it were- but do not think it is.
Member: “Veterans are a symbol of what makes our nation great, and we must never forget all they have done to ensure our freedom.”
Member: Happy Veterans Day to all who served!! We appreciate and thank you all!!!
StacieZ joins the stream today. Please listen to the replay for her information.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
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!
4 Reasons You Should Stock Up on $100 Bills Before the Winter
I’m a Money Expert: 4 Reasons You Should Stock Up on $100 Bills Before the Winter
Joel Lim Sat, November 9, 2024 GOBankingRates
Digital payments are expected to reach $11 trillion in 2024. That’s a lot of virtual money changing hands.
But what if something goes wrong? It happens all the time. Banks close, digital payment platforms fail, or you lose your debit card. While an increase in spending during the winter months is predictable, the unexpected events are, of course, unpredictable.
So, one thing is clear — there are many things could happen that prevent you from using your hard-earned money. So, is it a good idea to stock up on $100 bills now? Waiting could mean your money gets tied up, and you miss out on your planned purchase.
I’m a Money Expert: 4 Reasons You Should Stock Up on $100 Bills Before the Winter
Joel Lim Sat, November 9, 2024 GOBankingRates
Digital payments are expected to reach $11 trillion in 2024. That’s a lot of virtual money changing hands.
But what if something goes wrong? It happens all the time. Banks close, digital payment platforms fail, or you lose your debit card. While an increase in spending during the winter months is predictable, the unexpected events are, of course, unpredictable.
So, one thing is clear — there are many things could happen that prevent you from using your hard-earned money. So, is it a good idea to stock up on $100 bills now? Waiting could mean your money gets tied up, and you miss out on your planned purchase.
Why Hundreds?
The $100 bill is the most common currency in circulation in the United States, yet it is also the most hated. Most people generally withdraw $100 bills when they want to store cash, not spend it. It’s like a guaranteed savings account right there in your hands. (Or under your mattress.)
Sure, it might feel unsafe to have cash on hand when you could keep it in savings, but your savings aren’t always readily available to you. Cash is.
Why not twenties? $20 bills take up way more space than hundreds. And if you’re storing a couple thousand dollars for the winter, twenties will require much more space. It becomes a bulky, unmanageable problem to wade through twenties when you can just grab a crisp $100.
Plus, if you pull out hundreds “just in case” and don’t end up spending them, it’s easier to deposit them back into the bank.
You might catch the occasional eye-roll if you pull out a C-note. Or you may have to wait a bit longer for your cashier to run a counterfeit pen across the bill. But you’ll have peace of mind that you have all the cash you need to get through an unpredictable winter.
As Tim Peters, Chief Marketing Officer at Enghouse Systems, who works with dozens of financial institutions, notes, “Based on historical norms, we know people are cash hoarders with the advent of uncertainty and thus secure lending capabilities. An example is 2008 when the cash circulation rose by 20%.”
Winter is perhaps the most unpredictable time of year, and it gets more chaotic each year with the climate changing wildly, among other things. Here are just a few reasons to stock up on $100 bills before winter arrives.
1. The Banks Could Close
Where we once knew with some certainty what kind of weather we would see in specific regions, those days are gone. Now, snowstorms hit regions not always prepared, leaving millions in freezing temperatures.
TO READ MORE: https://www.yahoo.com/finance/news/m-money-expert-4-reasons-140116476.html
Seeds of Wisdom RV and Economic Updates Monday Morning 11-11-24
Good Morning Dinar Recaps,
BRICS DIGITAL ASSET PLATFORM PROPOSAL POISED TO RESHAPE GLOBAL INVESTMENT
A proposed BRICS digital asset platform could ignite unprecedented investment in South Asia, Africa, and Latin America, driving growth in emerging markets.
Digital Assets at the Core of BRICS’ Ambitious New Investment Platform
Russian President Vladimir Putin discussed the proposed creation of a BRICS investment platform to support developing markets at the Valdai Discussion Club’s plenary session in Sochi on Friday. He was quoted by Tass as saying:
Good Morning Dinar Recaps,
BRICS DIGITAL ASSET PLATFORM PROPOSAL POISED TO RESHAPE GLOBAL INVESTMENT
A proposed BRICS digital asset platform could ignite unprecedented investment in South Asia, Africa, and Latin America, driving growth in emerging markets.
Digital Assets at the Core of BRICS’ Ambitious New Investment Platform
Russian President Vladimir Putin discussed the proposed creation of a BRICS investment platform to support developing markets at the Valdai Discussion Club’s plenary session in Sochi on Friday. He was quoted by Tass as saying:
We suggest creating a new investment platform of [BRICS countries], using electronic assets, developing them.
“The point is to create such a platform of electronic payments, with the use of which it will be possible to invest in developing markets, and these are primary markets of South Asia, Africa, and Latin America in part,” the Russian leader added. The proposed system would facilitate investments from BRICS nations into high-growth areas by utilizing a digital framework, enabling streamlined investment in these regions.
The BRICS economic bloc expanded on Jan. 1 to include Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE), joining Brazil, Russia, India, China, and South Africa. This expansion aimed to boost the group’s global economic and political influence. At a recent summit in Russia, BRICS also extended partnership invitations to 13 additional countries, further widening its international presence.
Putin highlighted that the regions targeted by this initiative exhibit strong demographic and economic potential, factors that make them attractive for BRICS investment. He opined:
We think so because very strong demographic processes are taking place there: population growth, capital accumulation, the urbanization level is in sufficient there and it will definitely grow.
At the 16th BRICS Summit, held from Oct. 22-24 in Kazan, Russia, members discussed expanding the bloc’s global influence, including developing alternatives to Western-dominated payment systems to boost financial independence.
Putin has also clarified Russia’s stance on the U.S. dollar, stating that while Russia faces restrictions on its use, it does not intend to abandon the currency. He criticized U.S. policies that limit dollar use, arguing they undermine American financial authority, though he affirmed the dollar’s importance to Russia’s economy.
@ Newshounds News™
Source: Bitcoin News
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RIPPLE V. SEC LAWSUIT: RUMORS SUGGEST NEXT POTENTIAL CHAIRMAN OF THE REGULATOR WILL BE PRO-CRYPTO
Firing Gensler seems like one of Trump’s most important crypto-related promises.
▪️Trump’s pledge to replace SEC Chair Gensler with a pro-crypto leader has sparked excitement across the community.
▪️Legal experts believe such changes could lead to a faster resolution of the Ripple v. SEC case.
Gensler’s Possible Successor
Donald Trump’s victory in the US presidential elections triggered a massive bull run for the cryptocurrency sector due to his shift from a previously skeptical view to a supportive stance on the asset class. During his campaign, the Republican pledged to make America “the crypto capital of the planet” and proposed creating a strategic BTC reserve.
He also expressed the intention to fire the SEC’s Chairman Gary Gensler on day 1, a promise which triggered huge enthusiasm among the XRP Army. To the uninitiated ones, the Commission and its head have been at war with numerous crypto companies, including Ripple.
Crypto X has been speculating whether the newly-elected president will stick to his promise and wondering who might replace Gensler at the helm of the securities regulator.
Eleanor Terrett (a popular journalist at Fox Business) recently claimed she discussed the matter with “a person close to the Trump transition team,” who assured her that the successor “will be someone pro-crypto.”
NEW: I asked a person close to the Trump transition team about some of the names being floated for @SECGov chair and whether views on #crypto would factor into the decision.
The response: “I promise you it will be someone pro-crypto.”
— Eleanor Terrett (@EleanorTerrett) November 8, 2024
A new SEC Chairman who is more open to innovation and less inclined to hamper the crypto industry’s advancement by constant legal battles is considered good news not only for those invested in XRP but the entire digital asset market.
The Potential Effect on the Case
Last week, Fred Rispoli (a US attorney who has been following the updates surrounding the Ripple v. SEC lawsuit) argued that the election of Trump could lead to “extreme changes” at the watchdog.
He claimed that the $125 million penalty, which Federal Judge Torres ordered Ripple to pay for violating certain securities laws, is the biggest win the agency can gain. Rispoli also thinks that the SEC’s new potential leadership will “recognize this whole case was idiotic and settle at that point.”
“This might include a reduction in the fine and an agreement that current sales of XRP by Ripple are sufficiently structured to not be investment contracts,“ he added.
The American lawyer Jeremy Hogan chipped in, too. He went even further, forecasting that the new leader of the SEC may dismiss all non-fraud crypto lawsuits filed over the years. Similar to Rispoli, Hogan believes the case could be officially settled for the amount of $125 million:
“It would be…awkward to settle for less than what was already awarded by a Court! The Coinbase and other cases in litigation will simply be dismissed. This will take some time. Not January, but perhaps before summer. That’s my call, and I’m sticking to it.”
@ Newshounds News™
Source: Crypto Potato
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🌱GIPPER'S NEWS READER NEW PRESIDENTIAL PLAN FOR 2025 - ARMED FORCES OF AMERICA | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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“Tidbits From TNT” Monday Morning 11-11-2024
TNT:
Tishwash: Al-Sudani in Saudi Arabia tomorrow: A speech at the Riyadh Summit and an attempt to limit the “expansion of the conflict”
An informed political source reported that Iraqi Prime Minister Mohammed Shia al-Sudani will head to the Saudi capital, Riyadh, tomorrow, Monday, November 11, to participate in the Arab-Islamic summit.
The source told Shafaq News Agency, "The participation of the Iraqi delegation in the extraordinary joint Arab-Islamic summit, in Riyadh, will be headed by Al-Sudani and will include Foreign Minister Fuad Hussein, and Al-Sudani will deliver a speech at the meeting."
He pointed out that "any developments will take place after the meeting, such as side meetings with the leaders of the countries participating in the meeting."
TNT:
Tishwash: Al-Sudani in Saudi Arabia tomorrow: A speech at the Riyadh Summit and an attempt to limit the “expansion of the conflict”
An informed political source reported that Iraqi Prime Minister Mohammed Shia al-Sudani will head to the Saudi capital, Riyadh, tomorrow, Monday, November 11, to participate in the Arab-Islamic summit.
The source told Shafaq News Agency, "The participation of the Iraqi delegation in the extraordinary joint Arab-Islamic summit, in Riyadh, will be headed by Al-Sudani and will include Foreign Minister Fuad Hussein, and Al-Sudani will deliver a speech at the meeting."
He pointed out that "any developments will take place after the meeting, such as side meetings with the leaders of the countries participating in the meeting."
Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein arrived in the Saudi capital, Riyadh, on Saturday evening to participate in the ministerial meeting of the extraordinary joint Arab-Islamic summit.
A statement by the Foreign Ministry said that Minister Hussein began his visit by meeting with the Palestinian Prime Minister and Foreign Minister, Mohammed Mustafa, where they discussed ways to enhance bilateral cooperation between the two countries.
Leaders of Arab and Islamic countries have begun arriving in Saudi Arabia in preparation for a summit to be held tomorrow, Monday (November 11), to discuss the war in Gaza and Lebanon and developments in the region, according to the Saudi Press Agency.
In late October, the Saudi Foreign Ministry announced the summit during the first meeting of an international coalition established to advance a two-state solution to end the Israeli-Palestinian conflict.
The summit is being held to "discuss the continued Israeli aggression on the Palestinian territories and Lebanon and developments in the region," according to what the Saudi Press Agency reported on Sunday.
It comes as an "extension of the joint Arab-Islamic summit held in Riyadh on November 11, 2023" at the initiative of the Arab League (Cairo) and the Organization of Islamic Cooperation (Jeddah).
Saudi Al-Ekhbariya TV broadcast footage of the arrival of Nigerian President Bola Tinubu and Lebanese Prime Minister Najib Mikati. link
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Tishwash: Sabah Sobhi: The first reading of the draft oil export law will take place next week
A member of the Iraqi parliament's oil and gas committee confirmed that the first and second readings of the oil export bill are scheduled to take place in the Iraqi parliament next week, adding that there is agreement with the Shiite parties on certain conditions for passing the oil export bill.
“The main obstacle to oil exports was Article 12 of Budget Law No. 13 of 2023, as the second paragraph of that article, paragraph “c,” stipulated that the issue of production and transportation equals the cost of production and transportation in the federal Ministry of Oil. This means that all oil production and transportation depends on the federal Ministry of Oil’s estimates for all Iraqi oil fields.
According to the federal Ministry of Oil, the cost of extracting oil in Iraq is about 9,000 to 9,000 dinars, while the cost of transportation is 1.2 cents, and oil companies are dealt with on this basis,” Sabah Subhi, a member of the Oil and Gas Committee in the Iraqi parliament, told Kurdistan 24.
He added, "Oil production in Kurdistan has been ongoing since 2007 and was the first stage of the export process, so an agreement was reached with the companies based on the government's and companies' share of the revenues, but since 2014 there have been attempts to stop the export of Kurdistan's oil."
Sabah Sobhi pointed out that "international security developments show that the Arabian Gulf is in danger due to tensions in the region, and the danger to Iraq in this case lies in the closure of the road to oil exports," adding that "Iraq only has one port for oil exports, which is the port of Basra, and 95% of Iraq's economy depends on oil."
He continued, "Iraq exports about 3.5 million barrels of oil per day. If we consider the price of a barrel at $70, the total amount of sales will be an imaginary amount. Therefore, if Iraq is unable to export its oil, a disaster will occur, since Iraq's economy depends on oil by 95%."
He added, "Iraq is looking for another port to export its oil, and it has the Haditha crossing, through which Iraq has been trying to build an oil pipeline for years, and the cost of the project is estimated at two billion dollars."
Sabah Sobhi stressed that "there is great pressure on the federal government to solve the oil problem before the arrival of winter in Europe, because there are many countries suffering from an energy crisis."
He explained that "the first and second readings of the oil export project will take place on Sunday and Monday of next week."
A member of the parliamentary oil and gas committee said, “The State Administration Coalition held a meeting on the issue of oil exports and everyone agreed to amend the project.”
He added, “I believe that the Shiite parties will agree to the project on condition that some of the project’s articles related to providing the governorates’ budgets and the issue of oil revenues are amended, in addition to some strategic projects for some of the central and southern governorates.” link
Tishwash: This is from Iraqi News
Financial assets hit new record highs ahead of 2024
The year 2024 witnessed a large number of financial assets recording new record levels that they had never seen before, especially with the shifts in global monetary policy and developments in the political and geopolitical situation across different regions of the world.
This year, gold, Bitcoin, the US stock market, European indices, and technology stocks, especially the chip and semiconductor giant Nvidia, have all reached record levels never seen before.
These increases provided distinct investment opportunities for all investors and small speculators who benefited from the possibility of trading these assets through the best licensed trading companies in Iraq 2024 .
Geopolitical concerns and political developments
Despite the different factors that pushed these assets to record levels, there are one or two factors that are common in pushing them to record these increases. For example, geopolitical developments in the Middle East and fears of an escalation of the war between Israel and Iran supported the rise of gold. On the other hand, the boom in artificial intelligence was one of the most important factors that supported the shares of the technology giant Nvidia, which in turn boosted the US stock market.
Monetary policy shift of central banks
At the same time, there are stable factors that support all of these assets, the most important of which are developments in monetary policy and the shift of global central banks from financial tightening based on raising interest rates from the beginning of 2022 until the middle of this year.
The central bank of Australia, Canada, the European Central Bank, the Bank of England, and the Federal Reserve have all begun to cut interest rates as global inflation rates decline. In this regard, the Federal Reserve cut interest rates in November for the second time this year by 25 basis points after cutting interest rates for the first time last September by 50 basis points amid expectations of a third cut in December by another 25 basis points, bringing the total expected interest rate cuts in 2024 to about 1 percent.
The Bank of England cut interest rates twice this year by 25 basis points each time, while the European Central Bank preceded all banks after approving three interest rate cuts amid expectations of an additional cut in the last months of the year. Cutting interest rates supports financial assets by withdrawing savings from banks with the decline in the interest they generate, as they are pumped into other assets such as the stock market with the aim of targeting a higher return, or gold, which is a store of value and does not bring interest, but it is a safe asset that investors resort to in times of uncertainty and for the purpose of hedging.
Is the beginning of the year marathon over?
There are currently some questions about whether what can be called the market bull marathon is over, especially for those who missed the start of the big rise. Gold has been accelerating since August of last year, while US indices have accelerated at the beginning of this year in what is known in the financial markets as the "Santa Rally". In this context, it can be answered that the markets, despite the possibility of recording some downward corrections, the factors for continuing the rise already seem to be present, especially with Donald Trump clinching the presidency, amid expectations of adopting financial policies that may maintain the momentum of the index market's rise.
At the same time, central banks have not finished their stimulus policy, which supports the rise of most financial assets, especially the stock market and some assets that enhance the value of the risk spirit.
NVIDIA is the world's largest company by market value
The upside potential in the stock market looks promising, especially with some companies hitting record highs that seem unlikely to stop in the medium term. For example, Nvidia shares have seen exceptional growth this year, a growth that is expected to maintain its accelerating momentum amid estimates of the company’s ability to maintain an accelerated growth rate in graphics processing units. Its market value has tripled to briefly surpass Apple as the most valuable company in the world, with a market value of about $3.53 trillion, ahead of the technology giant Apple. Its net income rose from about $2.3 billion in the first half of 2022 to about $31.5 billion for the same period in 2024.
Microsoft ranked third with a market value estimated at about $3.19 trillion, followed by Alphabet with a market value of about $2.04 trillion. Meanwhile, Apple’s stock was affected by downward pressure after Warren Buffett-led Berkshire Hathaway announced a major sale of part of its stake in the company. link
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Listen To Lee Greenwood’s New Rendition of ‘God Bless the U.S.A.’ .......................
https://www.youtube.com/watch?time_continue=194&v=SrMftm6Km3g&feature=emb_logo
John Wayne & Celebrity Ensemble - God Bless America...........
MilitiaMan & Crew News Reporting-IRAQ-USA-Financial Inclusion up 48%-Money Inside & Out of Iraq-Electronic Cards
MilitiaMan & Crew News Reporting-IRAQ-USA-Financial Inclusion up 48%-Money Inside & Out of Iraq-Electronic Cards
11-10-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
MilitiaMan & Crew News Reporting-IRAQ-USA-Financial Inclusion up 48%-Money Inside & Out of Iraq-Electronic Cards
11-10-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
More News, Rumors and Opinions Sunday PM
KTFA:
Clare: Including debt cancellation... Determining the mechanisms for US Treasury support for Iraq
11/10/2024 Baghdad
Today, Sunday, the Prime Minister's Advisor, Mazhar Mohammed Salih, announced the mechanisms of the US Treasury's support for Iraq since 2003, while he indicated the continuation of consultations with the US Treasury regarding combating money laundering.
Saleh told the official agency, which was followed by "Al-Eqtisad News": "The cooperation and coordination between Iraq and the US Treasury extends back to the first years since the change of the former regime," indicating that "the Treasury played an important supporting role in supporting the Paris Club agreement in 2004 concerned with writing off Iraq's debts called pre-1990 debts, and the presence of Treasury representatives in the Paris Club agreement secretariat helped ensure the writing off of 80% or more of the former regime's debts."
KTFA:
Clare: Including debt cancellation... Determining the mechanisms for US Treasury support for Iraq
11/10/2024 Baghdad
Today, Sunday, the Prime Minister's Advisor, Mazhar Mohammed Salih, announced the mechanisms of the US Treasury's support for Iraq since 2003, while he indicated the continuation of consultations with the US Treasury regarding combating money laundering.
Saleh told the official agency, which was followed by "Al-Eqtisad News": "The cooperation and coordination between Iraq and the US Treasury extends back to the first years since the change of the former regime," indicating that "the Treasury played an important supporting role in supporting the Paris Club agreement in 2004 concerned with writing off Iraq's debts called pre-1990 debts, and the presence of Treasury representatives in the Paris Club agreement secretariat helped ensure the writing off of 80% or more of the former regime's debts."
“The US Treasury succeeded in supporting infrastructure financing in Iraq through the conference held in the Spanish capital Madrid on October 23-24, 2003. Its primary goal was to mobilize financial support for the reconstruction of Iraq after the US-led invasion in 2003. Seventy countries and international organizations participated in the conference,” he added, explaining that “the conference managed to collect pledges amounting to about $33 billion, but a large part of these amounts was in the form of loans or technical support, and not all of it was direct financial aid.”
He explained that "the US Treasury contributed to establishing the Iraqi payments system in 2006 through a direct technical agreement with the Central Bank of Iraq to establish a wholesale payments system between the Central Bank on the one hand and the banks and the government in transferring funds and settling them electronically on the other hand, in addition to entering the era of settling bank checks electronically as well, which are matters in financial technology that are being introduced for the first time in our country,"
Noting that "from the history of the important assistance provided by the Treasury, it has played an important role in replacing the local, fast-forgery edition of the dinar that was issued during the nineties siege in the largest campaign witnessed by Iraq between late 2003 and early 2004 with the international edition of the dinar, according to the highest international technical specifications."
He stressed that "since the signing of the Strategic Framework Agreement in 2008 until today, there have been continuous consultations between representatives of the financial and monetary authorities in our country and the treasury to cooperate in combating money laundering and the proceeds of crime and terrorism in a manner that achieves governance and compliance for our financial and banking system as well as its optimal integration into the global financial and economic climate." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick [Iraqi bank manager friend Aki update] WALKINGSTICK You told us about these bulletin boards/ billboards that are going be brought to you there at the bank...Do you have the bulletin boards, you know the ones that you told me that they were going to send you with the pictures...explanations/descriptions of all the notes? You have...the ones you told me are going to be distributed to all these currency centers, to all the banks? [Post 1 of 2....stay tuned]
Walkingstick [Iraqi bank manager friend Aki update] AKI: No. I don't have them in the Dearborn banks yet. WALKINSTICK: Have they told you when they're going to give you these boards? AKI: I was there, Sudani was there, Alaq was there, the US Treasury, IMF, World Bank, everybody was there when these were constructed so I'm not going to tell you when we're going to display them but I'm going to tell you that I'm going tell you that I'm going to. WALKINGSTICK: #1 you don't have them in your possession yet? AKI: Correct WALKINGSTICK: #2, you were present when these boards were made? AKI: Yes. [Post 2 of 2]
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Tishwash: Iraqi PM visits Kurdistan Region on Wednesday
Mohammed Shia al-Sudani, Iraqi Prime Minister, is set to visit Erbil, the capital of the Kurdistan Region, next Wednesday.
A government source told Shafaq News that al-Sudani will meet with Kurdish officials in the region during his visit to hold several discussions before heading to al-Sulaymaniyah province link
Remember, Nader said it’s all about import export
Nader: 11-10-2024
ERBIL (Kurdistan 24) – Iraqi government with the help of the Central Bank of Iraq, do its best to increase the price of Iraqi dinar against US dollar, Mohammed Shia al-Sudani, Iraq’s new premier, said in a press conference on Tuesday.
“The interests of the needy were not taken into consideration in devaluing Iraqi currency. We tend not to repeat that in this cabinet,” he said.
Tackling endemic corruption in the country is one of the priorities of this cabinet, he said. The Iraqi government work with other neighboring other countries to return Iraq’s “stolen money,” he added.
Faced by financial crisis caused by low oil prices amid COVID-19 pandemic, the Iraqi Central Bank decided to devalue the currency, setting the exchange rate at 1,460 dinars per dollar to the public. Before the decision, each dollar was traded at 1,182 Iraqi dinars.
As Iraq’s market is heavily relied upon imports, the decision sparked public outrage and demonstrations, outcrying the rising prices of commodities. The former Finance Minister Ali A. Allawi argued that the rising commodity prices was part of the global inflation, defending the devaluation decision as it had increased the state revenue amid liquidity crisis.
Iraq Economic News and Points To Ponder Sunday Afternoon 11-10-24
Iyad Allawi And Salim Al-Jabouri Stress The Importance Of Supporting Al-Sudani's Government In Implementing The Required Reforms
Sunday 10 November 2024 | PoliticsNumber of readings: 47 Baghdad / NINA / "The leader of the National Coalition, Dr. Iyad Allawi, received in his office in Baghdad today, Sunday, Dr. Salim al-Jabouri, where an extensive discussion took place during the meeting on the current situation and the challenges facing Iraq at the current stage, especially in terms of enhancing security and stability.
According to a statement by Allawi's office, the meeting witnessed an exchange of views on preparations for the upcoming elections, and the emphasis on the need for them to be held in a fair and transparent atmosphere that ensures true representation of the will of the citizens and contributes to bringing about tangible positive change in the political and administrative reality of the country.
Iyad Allawi And Salim Al-Jabouri Stress The Importance Of Supporting Al-Sudani's Government In Implementing The Required Reforms
Sunday 10 November 2024 | PoliticsNumber of readings: 47 Baghdad / NINA / "The leader of the National Coalition, Dr. Iyad Allawi, received in his office in Baghdad today, Sunday, Dr. Salim al-Jabouri, where an extensive discussion took place during the meeting on the current situation and the challenges facing Iraq at the current stage, especially in terms of enhancing security and stability.
According to a statement by Allawi's office, the meeting witnessed an exchange of views on preparations for the upcoming elections, and the emphasis on the need for them to be held in a fair and transparent atmosphere that ensures true representation of the will of the citizens and contributes to bringing about tangible positive change in the political and administrative reality of the country.
The two sides also agreed on the importance of supporting the government of Muhammad Shia al-Sudani in implementing the required reforms, as it is an essential step to address the political and administrative situation and correct paths in a way that enhances and achieves the aspirations of the Iraqi people. / End9 https://ninanews.com/Website/News/Details?key=1167309
Labor And The World Bank Discuss Developing And Updating The Electronic Systems Of The Social Protection Authority
Sunday 10 November 2024 | Economic Number of readings: 411
Baghdad / NINA / The head of the Social Protection Authority at the Ministry of Labor, Ahmed Al-Moussawi, discussed with the World Bank delegation the executive procedures for the bank's grant program to provide electronic devices to the authority.
Al-Moussawi explained: "The meeting included discussing the plan to distribute electronic devices among the computer divisions in the social protection departments in Baghdad and the governorates, noting that this step comes within the framework of the authority's interest in developing and modernizing systems and special equipment to contribute to developing performance and integrating work with its departments.
He added:" The grant includes supporting social researchers and providing them with tablet devices to ensure speed in conducting field surveys and updating data. https://ninanews.com/Website/News/Details?key=1167215
Al-Sudani's Office Reveals Details Of A Meeting Regarding The Restructuring Of Public Companies
10/11/2024 Mawazine News – Baghdad Prime Minister Mohammed Shia al-Sudani held a regular meeting of the Supreme Committee for the Restructuring of State-Owned Public Companies today, Sunday.
A statement from his office received by Mawazine News stated that "Prime Minister Mohammed Shia al-Sudani chaired today, Sunday, the regular meeting of the Supreme Committee for the Restructuring of State-Owned Public Companies, in the presence of the Ministers of Oil, Electricity, Transport, Trade, Construction, Housing and Public Municipalities, Agriculture, Water Resources, and Communications."
The statement continued, "The meeting discussed the procedures and steps taken by the concerned authorities in light of previous decisions, as well as discussing the file of public companies offered for liquidation and their liquidation mechanisms, and the decisions supporting this process, and deliberating on the re-merger of a number of companies of the Ministry of Trade, in addition to discussing the reclassification of a number of companies of the Ministry of Water Resources.
" He added, "During the meeting, the progress made in restructuring the companies (Hammurabi, Ashur, Al-Faw, and Al-Farouq) affiliated to the Ministry of Construction, Housing, Municipalities and Public Works were reviewed."
The statement added, "The meeting witnessed the approval of the minutes and recommendations of the second meeting of the subcommittee concerned with (supervising the process of classifying companies according to the categories stipulated in Decision No. 1 of 2024 of the State-Owned Public Companies Restructuring Committee." https://www.mawazin.net/Details.aspx?jimare=256514
Expanding Banking Services And A Call To Protect Beneficiaries From Falling Into The Trap Of Usury
November 10, 2024 Baghdad - Qusay Munther Economic experts called on the government to intervene and set controls to ensure that excessive interest rates that affect the neediest groups are reduced, and to provide flexible banking alternatives that comply with Sharia conditions.
The experts told Al-Zaman yesterday that “the government is required, in light of the reforms it is carrying out in the banking sector, to urge these parties to reconsider the high interest on granting loans, as it constitutes an additional burden on those with limited income, in addition to the fact that despite the pressures that force them to apply for it, it pushes them to fall into Sharia warnings.”
They added that “religious scholars stress the need to take into account Islamic Sharia in financial transactions, which rejects patterns of usurious interest that are characterized by excessive increase in loans.”
Previous invitation
Al-Zaman had previously called on the government regarding the high usurious interest rates imposed by banks, calling for the need to take measures to ease the financial burdens on citizens and ensure that these rates are consistent with Islamic teachings, which contributes to protecting different social classes from falling into the trap of usury. Prime Minister Mohammed Shia Al-Sudani directed the expansion of banking services in the governorates.
A statement received by Al-Zaman yesterday said that (Al-Sudani directed a set of steps within the framework of efforts to reform the financial and banking system, as one of the priorities of the government program, and in light of the important steps achieved during the past two years, and in light of the challenges that the financial and banking system is witnessing, especially in the governorates,
and since confronting them requires greater attention and radical improvements to ensure enhancing confidence in the financial and banking sectors, facilitating the process of economic development, increasing financial inclusion and raising its indicators throughout the country),
and he stressed (increasing the number of bank branches in the governorates to meet the needs of the local population, and in a way that contributes to expanding the scope of financial services, while paying attention to buildings and their modernity and providing their basic requirements),
calling for (the necessity for all banks in the governorates to adopt modern technologies such as online banking services and mobile applications, which facilitates citizens’ access to their banking services easily),
reiterating (the importance of banks developing their financial services in a manner that suits the needs of individuals and small companies, such as soft loans and savings accounts,
in addition to enhancing financial inclusion in the governorates by providing banking services to different segments of society, including (districts and sub-districts in villages and rural areas), and pointed out that (the Ministry of Finance, the Central Bank of Iraq,
and the Iraqi Private and Islamic Banks Associations will undertake coordination operations with the governors’ offices to accomplish the above tasks according to their jurisdiction and responsibility, and submit quarterly reports every three months to the Prime Minister’s Office regarding the progress of work regarding the steps mentioned above).
For its part, Rafidain Bank announced the expansion of the comprehensive banking system to include 48 branches.
Infrastructure
The bank explained in a statement received by (Al-Zaman) yesterday that (as part of its continuous efforts to enhance the digital infrastructure and provide distinguished banking services, we announce the operation of 48 branches within the comprehensive banking system,
which reflects its commitment to updating its services according to the highest international standards), and continued that (this development comes as part of the bank’s strategy to improve the customer experience across all its branches, and facilitate access to integrated, fast and secure banking services),
noting that (the comprehensive banking system is a qualitative shift in the bank’s path, as it supports digital transformation and enhances the bank’s ability to efficiently meet the needs of wide segments of customers), and the statement went on to say that (this continuous expansion will include more branches in the future, as part of a well-thought-out plan aimed at providing a modern banking experience that contributes to supporting the national economy, and meeting the needs of society with distinguished and comprehensive banking services). LINK
Gold Prices Stabilize In Baghdad And Erbil
Sunday 10 November 2024 11:38 | Economic Number of readings: 166 Baghdad / NINA / Gold prices stabilized today, Sunday, in the local markets of the capital, Baghdad, and Erbil.
The price of gold in the wholesale markets on Al-Naher Street in the capital, Baghdad, this morning, reached 566 thousand dinars per mithqal of 21 karat Gulf, Turkish and European gold, and 562 thousand dinars for purchase, while the selling price of one mithqal of 21 karat Iraqi gold reached 536 thousand dinars, and the purchase price was 532 thousand.
As for gold prices in goldsmiths' shops, the selling price of a mithqal of 21 karat Gulf gold ranged between 570 thousand dinars and 580 thousand, while the selling price of a mithqal of Iraqi gold ranged between 540 thousand and 555 thousand dinars.
As for gold prices in Erbil, the selling price of 24 karat gold reached 662 thousand dinars, 21 karat 580 thousand dinars, and 18 karat 497 thousand dinars. / End 11 https://ninanews.com/Website/News/Details?key=1167203
Dollar Prices Rise Slightly As Markets Close In Baghdad And Erbil
Economy | 10/11/2024 Mawazine News – Baghdad The US dollar rose slightly against the Iraqi dinar on Sunday in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.
The dollar rose with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 150,600 dinars per 100 dollars, while this morning it recorded 150,500 dinars per 100 dollars.
The selling prices stabilized in exchange shops in the local markets in Baghdad, where the selling price reached 151,500 dinars per 100 dollars, while the purchase price reached 150,500 dinars per 100 dollars.
In Erbil, the dollar also rose, where the selling price reached 150,600 dinars per 100 dollars, and the purchase price reached 150,500 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=256517
Planning Sets Date For Announcing Preliminary And Final Census Results
Local | 10/11/2024 Mawazine News – Baghdad The Ministry of Planning announced today, Sunday, that it will support the population census with 100 special scientific blogs. While indicating that the census is not political, but rather developmental to determine the poverty line in Iraq, it confirmed that the final results of the census will be announced within 6 weeks.
The Administrative Undersecretary of the Ministry of Planning, Hanaa Al-Asadi, said during the press conference, "Mawazine News", that "the census is for Iraq and not for planning and has not seen the light for a long time due to major challenges, but Prime Minister Mohammed Shia Al-Sudani and the Minister of Planning insisted on completing the process."
She added: "We started the process of enumeration and numbering and there were challenges, but with the efforts of the members of the Statistics Authority and their keenness, the process was completed successfully through communication with the governors," noting that "we are waiting for the 20th and 21st of this month, which is the biggest challenge."
She explained that "the population census, due to what it entails, is a database for developing correct plans and visions," indicating that "the plan is to include projects according to the needs of each governorate."
She pointed out that "the issue of fear of giving correct information to mobile teams is incorrect because through them the requirements of each region and the economic classes of society will be measured and known, meaning inferring the citizens living below the poverty line and the residents of slums, to develop correct plans to include projects that serve their interests even if they are implemented after 15 years."
She noted that "the census is not political and that the candidates for election are determined based on the census to serve the citizens and the data will be analyzed by specialists within the statisticians and sorted according to the paragraphs and then go to the Department of Economic Policies within the Ministry of Planning,
which in turn will develop an appropriate plan in line with the population census through data on the number of the poor and disabled, the number of displaced persons, the number of hospitals, schools and educational centers,
in addition to people with special needs, for the purpose of including projects that are consistent with the needs of the population, while linking the private sector to the census as a partner with the state and including investors and contractors."
Regarding the devices used in the census process, Al-Asadi confirmed that, "according to the directives of the Deputy Prime Minister and Minister of Planning and within the general controls, which are instructions for implementing contracts, several companies have applied in addition to the consulting company that evaluates the best companies and contracts have been signed.
So far, there has been no hesitation on the part of those companies, and they have been a great help despite the fact that they are in exchange for a financial return, in addition to the Housing Bank, which provided a special consultant within the Statistics Authority."
Regarding social care, Al-Asadi noted that, "Our goal is not to cut salaries for anyone, but we want to know the level of poverty in Iraq and the number of graduates and unemployed."
For his part, the Executive Director General of the Census, Ali Adnan Saleh, said in a statement to the official agency, followed by NRT Arabic, that "the first phase of the census has been completed, and the most important is the stage of packaging, enumeration and numbering,"
adding that "the required documents are in partnership with the national card, as they have been completed for 94% of the population, and those who do not have an official document, there is a field in which there are those who do not have documents, so the information of the people is relied upon, and after that this information is transferred to the Unified Card Department to match the information,
and the initial results of the census will be announced during the first days, and after 6 weeks the final announcement will be made officially." https://www.mawazin.net/Details.aspx?jimare=256507
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