Iraq “Census News” posted by Frank26 and Clare at KTFA 11-20-2024
KTFA:
Frank26: "IF SO... THEN THERE IS A NEW EXCHANGE RATE.".......F26
Finance: Salaries may be funded after census holiday
11/17/2024
An informed source confirmed, today, Sunday, that the Accounting and Budget Department in the Ministry of Finance is currently working to complete the process of financing the salaries of employees in government institutions.
The source told Al Furat News Agency that "if the work is completed, salaries will be released tomorrow, but it is most likely that this will be done after the census holiday, with work continuing on Fridays and Saturdays as usual during the salary funding release periods."
KTFA:
Frank26: "IF SO... THEN THERE IS A NEW EXCHANGE RATE.".......F26
Finance: Salaries may be funded after census holiday
11/17/2024
An informed source confirmed, today, Sunday, that the Accounting and Budget Department in the Ministry of Finance is currently working to complete the process of financing the salaries of employees in government institutions.
The source told Al Furat News Agency that "if the work is completed, salaries will be released tomorrow, but it is most likely that this will be done after the census holiday, with work continuing on Fridays and Saturdays as usual during the salary funding release periods."
From.. Raghad LINK
Clare: Iraq census curfew begins
11/19/2024
The curfew for the population census begins in Iraq.
The spokesman for the Ministry of Interior, Brigadier General Muqdad al-Moussawi, announced that the comprehensive curfew, as part of the general preparation process for the population and housing, will begin at midnight (12:00) on the 19th and end at midnight (12:00) on the 21st of this month.
The Supreme Security Committee for the Population Census also confirmed that the curfew will take effect at midnight on the 19th and 20th of November at 2:400, i.e. 12 midnight, and will continue until 2:400 on the 21st and 22nd of November, including the governorates of the Kurdistan Region.
It indicated that the movement of citizens, vehicles and trains will be restricted when the curfew enters into effect between governorates, districts and sub-districts, between urban and rural areas, and between sub-districts and sub-districts and vice versa, except for humanitarian cases, extreme necessity, and what is imposed by security, natural and climatic conditions. LINK
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Clare: Al-Sudani: We are living a historic day with the population census
11/20/2024
Prime Minister Mohammed Shia Al-Sudani during his visit to the headquarters of the Ministry of Planning, the General Authority for Statistics and Geographic Information Systems to follow up on the progress of the implementation of the general population census:
We congratulate all the people on this entitlement that has been suspended for ages, and today is historic.
We are living a historic day with the population census.
Census lays the foundation for a new Iraq
Religious authorities of all religions urged participation in the census.
We have completed a modern census.
Population census is a process whose goal is purely developmental.
We thank citizens for their cooperation and urge them to continue with the meters. LINK
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Clare: Prime Minister's Advisor: National development plans depend on census results
11/20/2024 Baghdad
The Prime Minister's Financial Advisor, Mazhar Mohammed Saleh, confirmed today, Wednesday, that the population census data will direct government investments to improve infrastructure and services, while indicating that national development plans will depend on the census results.
The Prime Minister's Advisor, Mazhar Mohammed Salih, said in an interview with the Iraqi News Agency, which was followed by "Al-Eqtisad News", that "the population census represents a basic strategic tool for achieving sustainable economic growth in Iraq."
He stressed that "the data resulting from this census will contribute to improving government administration, enhancing governance levels, as well as supporting investment and increasing the efficiency of resource use to achieve comprehensive economic development."
Saleh pointed out that “the comprehensive population census provides many essential axes that contribute to achieving these goals, the most prominent of which are:
1. The census helps identify areas that suffer from a lack of services and infrastructure, which directs government investments to improve these sectors, as these investments include water services, roads, electricity, schools, hospitals, and banks.
2. The census provides a detailed database for drawing up effective housing policies.
3. Through detailed data on the workforce, the government can develop policies to support employment, train workers, and stimulate productive sectors to serve the national economy.
4. The comprehensive population census allows for the collection of accurate information on the population size, its geographical distribution, age groups, and educational level, in addition to its contribution to helping the government and the private sector plan better, and determine economic priorities and optimal policies within national development plans, especially the 2024-2028 development plan. LINK
Iraq News Highlights and Points to Ponder Wednesday AM 11-20-24
Trade: The General Population Census Will Be A Starting Point For Important Economic Transformations
Tuesday 19 November 2024 19:10 | Economic Number of readings: 253 Baghdad / NINA / The Ministry of Trade confirmed that the general population census is an important step in directing investments, which accelerate development steps in all regions of Iraq.
A statement by the ministry quoted the official spokesman for the ministry, Mohammed Hanoun, as saying: "The government's approach through conducting the general population census, despite the difficulties it faced, is aimed at attracting international efforts to the national labor market in a way that revives the economy, and gives those in charge of the economic file a clear vision of the economic reality by creating a database that represents a starting point for economic policies that aim to address the imbalance in the economic structure."
Trade: The General Population Census Will Be A Starting Point For Important Economic Transformations
Tuesday 19 November 2024 19:10 | Economic Number of readings: 253 Baghdad / NINA / The Ministry of Trade confirmed that the general population census is an important step in directing investments, which accelerate development steps in all regions of Iraq.
A statement by the ministry quoted the official spokesman for the ministry, Mohammed Hanoun, as saying: "The government's approach through conducting the general population census, despite the difficulties it faced, is aimed at attracting international efforts to the national labor market in a way that revives the economy, and gives those in charge of the economic file a clear vision of the economic reality by creating a database that represents a starting point for economic policies that aim to address the imbalance in the economic structure."
Hanoun pointed out that "the general population census step will accurately reflect the reality of human wealth and the percentage of young people, as they represent an important economic force that can be employed in the sectors of knowledge, investment, and various aspects of the economy that have the elements of advancement and development."
The official spokesman for the Ministry of Commerce confirmed that "the general population census is a statistical procedure that represents a database on the numbers of Iraqis and the nature of their work," noting that "it is the first of its kind in decades, as the last census was conducted in 1987."
He continued, "It is a developmental work, the aim of which is to direct the country's resources in the right direction, and it is a procedure that serves the country economically and socially, by addressing poverty and unemployment, identifying needy families, the number of workers and unemployed, and improving the economic situation in general. ‘
It is a "message of reassurance to citizens and the country alike, meaning that the country is now safe from saboteurs and terrorist acts, and in a position that allows it to carry out this major and important procedure.
" Hanoun confirmed that "the census will determine the actual number of residents inside the country, and those residing outside the country in cooperation with the Ministry of Foreign Affairs later, and non-Iraqis working and residing will be counted, which will contribute to limiting their numbers and knowing their living conditions."
He pointed out that "the census is the most important source of economic and social data for all countries of the world," indicating that "knowing the results of the census enables the formulation of general policies and the development of strategies related to investment, housing, education, health, and capital investment related to road and communications networks, and the development of public services and development programs, accompanied by enabling countries to distribute Budgets between administrative regions according to development needs.
He continued: "The census helps enable the private sector and investors to drive development, raise the level of urban planning, and support decision-makers in making decisions."
He explained: "The economic view of the population is limited to two aspects: The first is that the population is a consumer force that exerts pressure on the available economic resources, and that these pressures increase in intensity the more limited and unilateral the resources are." / https://ninanews.com/Website/News/Details?key=1169924
How Will The Census Reflect On Drawing The Economic Map Of Iraq? An Expert Answers
Time: 2024/11/20 Reading: 390 times {Economic: Al Furat News} An economic expert stressed the importance of the general population census in Iraq for the benefits it provides in planning the economic and social sectors.
Nabil Al-Marsoumi told Al-Furat News Agency: “Iraq has a long experience in general population censuses, as the first census was in 1920 and the last comprehensive and integrated census was in 1987. During the last 37 years, no population census was conducted and the data was limited to estimates.
Today, it is gaining great importance that develops with time, as it is pivotal for economic and political decision-makers, detailed and accurate databases, population databases on age groups, and analysis of variables in population distribution, and the diversity, comprehensiveness and accuracy of data help decision-makers in drawing up paths for sound economic and social development plans and determining the supply of public goods and services.”
He added, "Census data helps in sector planning, meaning that this economic and social practice includes a package of benefits distributed to the government from the public sector, establishments and individuals, and the private sector benefits by knowing the possibility of future demand for goods and services and diagnosing the transformation in individuals' assets, their income level and sources, and other important variables."
Al Marsoumi explained: “We also benefit from the census by knowing the size and details of the public commodity in the future, and we learn important economic information, including the housing market and sound economic decisions. The government benefits from its results in drawing important economic and social policies in the future by providing a reliable, high-precision database, unlike what is currently being used, which is drawing estimated data based on hypothetical projections.”
The general population census process began this Wednesday morning, with a curfew imposed throughout Iraq, which began at 12 midnight last night and will continue until next Friday. From.. Raghad LINK
Government Advisor: Population Census Is An Essential Tool For Building Effective Strategic Economic Plans
Time: 2024/11/20 Reading: 377 times {Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, considered the population census “an essential tool for building effective strategic economic plans and achieving comprehensive and sustainable development.”
Saleh told Al Furat News Agency that "by providing accurate data, the census helps improve the management of the country's material and financial resources, support development funds, and strengthen the national economy in a way that achieves the well-being of society."
He explained, “It can be said that the comprehensive population census leads to direct results, most notably: improving financing programs, i.e. census data provides a clear view of the population’s needs, which contributes to designing financing programs that support small and medium enterprises and enhance local economic growth, as well as strengthening international partnerships, as the population census leads to strengthening these partnerships through the availability of reliable data from the population census that supports requests for financing and assistance from international bodies, such as the World Bank, regional development funds, and other funds associated with multilateral international financial institutions.”
The general population census process began this Wednesday morning, with a curfew imposed throughout Iraq, which began at 12 midnight last night and will continue until next Friday. From.. Raghad LINK
The Future Of International Trade Transactions In US Dollars In Iraq
Samir Al-Nusairi The US dollar is the first global currency for foreign trade transactions between countries of the world. It constitutes 80% of the volume of international financial transactions and represents about 60% of international reserve currencies. The dollar is the only currency that accommodates large financial transactions in the oil and energy sector and global oil trades amounting to 100 million barrels in addition to other commodities. Other currencies constitute about (20%-25%).
The dollar plays a fundamental role in the control of the American economy over the global economy in various fields, and many countries tried to get rid of the dominance of the US dollar in previous periods, but they could not. Therefore, the BRICS group was established, and its member states, namely China, Brazil, India and South Africa, are trying to limit the dominance of the dollar in international commercial and banking transactions, and the number of countries in it has now become about 9 countries.
After several countries joined, including Arab countries such as Egypt, the Kingdom of Saudi Arabia, and the United Arab Emirates, in addition to Ethiopia and Iran in 2024, and its main goals are to limit the dominance of the dollar in global trade, cooperation between the tax and customs authorities of the group’s countries, and to reach the creation of a new currency for use among the group’s countries.
Iraq, with the aim of reorganizing foreign trade financing, began concluding agreements with central banks with which Iraq has extensive trade exchange, in agreement with solid correspondent banks in China, India, the Emirates and Turkey, to deal in Chinese yuan, Indian rupee, Emirati dirham and Turkish lira, to achieve two goals:
the first is to enable our banks to agree with correspondent banks in these countries and other countries to deal directly with them after canceling the electronic platform, and
the second is to introduce new foreign currencies for commercial and banking transactions other than the US dollar, to enable banks that do not have US correspondent banks to continue their foreign transfers with those alternative countries according to special agreements with their central banks.
This can help control the reduction in the widespread local demand for the US dollar, create a state of balance in the money market, and maintain the purchasing power of the local currency, the Iraqi dinar. This method is now in effect, in addition to the existence of dealings in the US dollar as well. https://economy-news.net/content.php?id=50000
Seeds of Wisdom RV and Economic Updates Wednesday Morning 11-20-24
Good Morning Dinar Recaps,
BRICS NEWS: 4 NEW COUNTRIES SHOW INTEREST TO JOIN BRICS ALLIANCE
A total of four new countries have expressed their interest in joining the BRICS alliance this month. The number of countries that are ready to be a part of the bloc is only growing lately. The de-dollarization agenda, clubbed with a renewed consideration of local currencies is what’s attracting emerging economies into the bloc.
Four new nations have come forward officially expressing their intent to be a part of the BRICS alliance. The four countries that want to join the bloc are: Bolivia Columbia Libya Namibia
Good Morning Dinar Recaps,
BRICS NEWS: 4 NEW COUNTRIES SHOW INTEREST TO JOIN BRICS ALLIANCE
A total of four new countries have expressed their interest in joining the BRICS alliance this month. The number of countries that are ready to be a part of the bloc is only growing lately. The de-dollarization agenda, clubbed with a renewed consideration of local currencies is what’s attracting emerging economies into the bloc.
Four new nations have come forward officially expressing their intent to be a part of the BRICS alliance. The four countries that want to join the bloc are: Bolivia Columbia Libya Namibia.
While Bolivia is already a part of the BRICS alliance via the ‘Partner countries.’ It is now looking to be a full-time member. “BRICS is a new alternative that will be able to help first of all countries like Bolivia, but also many others,” said Foreign Minister Celinda Sosa. “This shows that there is a vision of integration, a multilateral vision where all countries have this opportunity,” she said.
Columbia, Libya, and Namibia are knocking on the doors of the BRICS alliance for an official membership. Nonetheless, the expansion could only happen in 2025 as the bloc started the new ‘Partner Countries’ initiative. Therefore, these countries are unlikely to be a part of the grouping this year or any time soon.
The BRICS alliance invited 13 new nations to join the bloc as ‘Partner Countries’ during the 16th summit in Kazan. Russian President Vladimir Putin confirmed that all the countries will officially become partners after they approve the invitation.
“The establishment of a new category of partner countries has become a significant conclusion of the Kazan Summit. The list of potential candidate countries was also agreed upon, to which the Russian presidency will send a relevant invitation,” said Putin.
@ Newshounds News™
Source: Watcher Guru
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PAYPAL TAPS XOOM FOR CROSS-BORDER STABLECOIN PAYMENTS
The partnership is designed to expand access to PYUSD in Asian and African markets, PayPal said
PayPal has tapped Xoom to enable cross-border payments using its stablecoin, PayPal USD, the payments giant said on Nov. 19.
The partnership is designed to expand access to PYUSD in Asian and African markets and let PayPal settle cross-border transactions outside of traditional banking hours, PayPal said.
Xoom is working with Cebuana Lhuillier and Yellow Card to handle PYUSD disbursements.
“[S]tablecoins like PYUSD are changing the payments landscape, and by integrating our technology, they will be able to move money in the most effective way possible thanks to our stablecoin and payments infrastructure,” Chris Maurice, Yellow Card’s CEO, said in a statement.
Launched in 2023, PYUSD is backed 1:1 by US dollars and is issued by Paxos Trust Company, a United States-regulated crypto custodian. It competes with other regulated, dollar-backed stablecoins, such as Circle Internet Financial’s USDC.
An Ethereum-compatible ERC-20 token, PYUSD is the only stablecoin supported on PayPal’s payment rails. It is designed to be “available to an already large and growing community of external developers, wallets and Web3 applications” and easily onboarded by cryptocurrency exchanges, according to PayPal.
PayPal has been taking steps to expand PYUSD’s accessibility, including working with Anchorage Digital to launch a rewards program for clients who custody PayPal USD stablecoins with the crypto custodian.
In May, PayPal launched PYUSD on Solana, partnering with Crypto.com, Phantom and Paxos to on-ramp users onto the blockchain network.
It also partnered with Web3 infrastructure provider MoonPay to buy cryptocurrency using a PayPal account. That partnership extended to on-ramping users to crypto betting platform Polymarket in July.
Coinbase, which also has an institutional custody arm, incentivizes users to hold stablecoins on its platform as well. It currently offers approximately 5.2% annual percentage yield on USDC. Coinbase owns an equity stake in Circle.
Despite its recent successes, PYUSD still greatly lags behind dollar-pegged stablecoins USDT and USDC. According to data from CoinMarketCap, the two leading stablecoins command market capitalizations of some $128 billion and $37 billion, respectively.
@ Newshounds News™
Source: CoinTelegraph
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🌱 MELANIA TRUMP'S LAUNCH OF THE "ON THE MOVE" DIGITAL SERIES IS SIGNIFICANT FOR SEVERAL REASONS | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Thank you Dinar Recaps
News, Rumors and Opinions Wednesday AM 11-20-2024
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Wed. 20 Nov. 2024
Compiled Wed. 20 Nov. 2024 12:01 am EST by Judy Byington
Possible Timing: Ezra A. Cohen on Telegram
Tues. 19 Nov. 2024: The clock is ticking and the storm is nearing. This week marks the beginning of the end for the old system. Bank of America, Deutsche Bank and JP Morgan on the brink as stock markets tumble and the QFS rises from the ashes.
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Wed. 20 Nov. 2024
Compiled Wed. 20 Nov. 2024 12:01 am EST by Judy Byington
Possible Timing: Ezra A. Cohen on Telegram
Tues. 19 Nov. 2024: The clock is ticking and the storm is nearing. This week marks the beginning of the end for the old system. Bank of America, Deutsche Bank and JP Morgan on the brink as stock markets tumble and the QFS rises from the ashes.
Wed. 20 Nov. 2024: Iraq rejoices. The new Dinar Rate heralds a new era.
Thurs. 21 Nov. 2024: The QFS is unveiled, ushering in a revolution.
Sat. 30 Nov. 2024: The World tunes in, the EBS activates and no one is left unaffected.
Sun. 1 Dec. to Mon. 2 Dec. 2024: Project Sandman Fall of US Dollar.
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Tues. 19 Nov. 2024 Bruce:
On Sun 17 Nov. they tested four different foreign currencies and they passed the test.
Some politicians were trying to get a early start on the QFS, and they were arrested
Over the weekend Bruce was told we would get started this week
The RR payments are divided into three age groups 30-45 years, 45-60, and 60 plus.
Age Group 60 and older: if you are getting SS your RR will pay you a lump sum to the bank where you receive your SS payment, unless you are exchanging, and then your RR will be put in your Quantum Account as you are exchanging.
Age Group 30-45: you get monthly payments for 30 years. You will be required to sign a document promising to keep on working at your job for another 15 years. If you don’t have a job, you will promise to get a job.
Age Group 45-60: RR monthly payment every year for two years. You will sign an agreement that you will work another ten years.
RR starts to pay out when you are exchanging currency, or if you don’t have currency, the first week of December.
SS increases take place in December. It will be substantial.
GCR RV: Bond Holders will receive notification overnight tomorrow Wed. 20 Nov.
Tier 4b (us, the Internet Group) notification by or before noon tomorrow.
Call the Call Center using the toll free number and the zip code where you want to exchange.
You will have your exchange appointment 2-4 hours after you set your appointment – they could start Wed. afternoon 20 Nov. 2024.
Currencies on the Forex have been trading at great rates. Contract Rate on the Dinar is very strong. Dong has been traded up.
Read full post here: https://dinarchronicles.com/2024/11/20/restored-republic-via-a-gcr-update-as-of-november-20-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Article: "The deletion of the zeros and evaluate the dinar" They're talking about the concept of currency revaluation which means, quote: "...a calculated upward adjustment of a country's official exchange rate..." This particular article supports the fact that they're openly educating their citizens as we speak...I think you guys really should know how close this is because why would they be talking about this now when it wouldn't be necessary? It would be absolutely 100% talking about it now because they want to make sure everybody knows what's happening, without saying what's happening. That's how it works. It's fascinating to watch...
Frank26 [Iraq boots-on-the-ground report] FIREFLY:IMF on TV news praising Iraq for their financial and banking reforms and development. FRANK: Have you noticed the IMF is constantly, almost weekly, now bragging about the monetary reform process of the Central Bank of Iraq? Bragging about it. If you go to the IMF website, it will tell you in English the Iraqi dinar is going through a revaluation right now. There's no secrets.
Why The Bond Market Collapse Could Trigger The "End Game" | Rafi Farber
Liberty and Finance: 11-19-2024
Rafi Farber highlights that bond yields have been rising even as the Federal Reserve is cutting interest rates, which is unusual.
Historically, when the Fed cuts rates, long-term bond yields tend to fall. This phenomenon hasn't occurred since 1981, signaling that the bond market may be in a bear market.
Farber suggests that the only way the Fed could halt rising bond yields is by buying up the entire bond market, similar to Japan's strategy. However, this could lead to the collapse of the dollar, as the Fed can't engage in such extreme measures without undermining the world's reserve currency.
INTERVIEW TIMELINE:
0:00 Intro
1:20 Bond market crisis
6:24 Preparedness
13:41 Basis trade
16:20 Gold update
19:00 Bitcoin vs gold
23:00 The End Game Investor
“Tidbits From TNT” Wednesday Morning 11-20-2024
TNT:
Tishwash: Iraq launches long-awaited population census, Prime Minister says
Iraqi Prime Minister Mohammed Shia al-Sudani announced that Wednesday, November 20, will mark “a significant developmental and civilizational milestone” as Iraq embarks on its long-awaited census.
In a televised address, al-Sudani stated, "We are initiating the national population census to complete the priorities of the government program, aiming to make the census a modern scientific tool for planning," expressing the government's commitment to serving the Iraqi people.
The census aims, according to Al-Sudani, to shape economic and social development using modern, scientific methods, addressing information gaps in planning, service delivery, and national decision-making.
TNT:
Tishwash: Iraq launches long-awaited population census, Prime Minister says
Iraqi Prime Minister Mohammed Shia al-Sudani announced that Wednesday, November 20, will mark “a significant developmental and civilizational milestone” as Iraq embarks on its long-awaited census.
In a televised address, al-Sudani stated, "We are initiating the national population census to complete the priorities of the government program, aiming to make the census a modern scientific tool for planning," expressing the government's commitment to serving the Iraqi people.
The census aims, according to Al-Sudani, to shape economic and social development using modern, scientific methods, addressing information gaps in planning, service delivery, and national decision-making.
“Advanced and accurate electronic methods would be used to ensure the census results are reliable and beneficial for the present and future of Iraq.” He said.
The Prime Minister considered that data generated from this census will serve as a “tool for informed decision-making and ensuring equitable distribution of resources and services across governorates," al-Sudani said.
Al-Sudani urged citizens to cooperate with the teams conducting the census, clarifying that it is not related to taxes or social protection but is essential for development across all sectors.
Notably, the census, scheduled for November 20-21, will provide Iraq with its first accurate and comprehensive population data in decades. The last nationwide census was conducted in 1987, while the most recent one in 1997 excluded the Kurdistan Region. Current estimates place Iraq's population at around 43 million.
More than 120,000 field researchers will go door to door, collecting data from households using electronic tablets, in a process supported by the United Nations.
Available in Arabic, Kurdish, and English, the census form will feature 70 questions covering religion, health, education, labor, and economic activity. However, questions regarding an individual's ethnicity, language spoken at home, and ancestry have been excluded.
The initial results will be announced within 24 hours, with the final figures expected to be released within three months. link
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Tishwash: Iraqi Firm Becomes Exclusive Dealer for China’s Rox Motor
Iraq’s Laith Al-Obaidi Group has announced an exclusive dealership agreement with China’s Rox Motor, marking a significant milestone in the Iraqi automotive market.
The agreement was signed during the Guangzhou Nanling Automobile Exhibition by Rox Motor CEO Yan Feng and Laith Al-Obaidi Group CEO Ali Al-Obaidi. This partnership expands Laith Al-Obaidi Group’s portfolio, which now includes eight automotive-focused businesses in Iraq, further strengthening its market presence.
Rox Motor’s innovative Range Extended Electric Vehicles (REVs), combining electric power with an integrated generator, are touted as ideal for the Iraqi market due to their efficiency and suitability for modern consumers.
Beyond Iraq, Rox Motor has also established distribution agreements in Qatar, Kuwait, Azerbaijan, the Philippines, and Egypt, showcasing its growing footprint in emerging markets worldwide. link
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Tishwash: Italy-Iraq: a business forum promoted by Unido Itpo on November 27th in Rome
The aim is to "facilitate partnerships and commercial collaborations between Iraqi and Italian stakeholders"
The Italian Investment and Technology Promotion Office of the United Nations Industrial Development Organization (Unido Itpo) is organizing the “Iraq Business and Cooperation Forum” event in Rome on November 27, in collaboration with Confindustria.
The aim, Unido Itpo reported, is to “facilitate partnerships and business collaborations between Iraqi and Italian stakeholders from institutions, business associations and the private sector in the fields of agri-food, energy and environment, infrastructure and construction, medicine and pharmaceuticals and beyond”.
The Forum will open with a plenary session in the morning, with interventions by high-level representatives of distinguished stakeholders, including the Italian Ministry of Foreign Affairs and International Cooperation, the Italian Agency for Development Cooperation (AICS) and other members of Sistema Italia.
On the Iraqi side, there will be representatives of the Ministry of Industry and Minerals, the Ministry of Commerce, the Iraqi Federation of Industries, the Iraqi Federation of Chambers of Commerce, the National Investment Commission, the Board of Investment of the Kurdistan Regional Government, the Industrial Cities Corporation.
Also present will be the Unido Enterprise Development Centers, which will bring their expertise and knowledge, contributing to the strategic discussions and the resulting developments. The afternoon of the Forum will be dedicated to B2B and B2G meetings, allowing direct interactions between the participating Italian companies and their Iraqi counterparts.
The event is organized within the project “Investment Promotion for Iraq – Phase 2” funded by AICS and the project “Establishing Innovative Platform in Iraq” funded by MAECI, both implemented by UNIDO ITPO Italy. link
Mot . Such Fond Memories of a Winter Past!!!
Mot: What a Guy!!!! Smile for the camera
Iraq Economic News and Points to Ponder Tuesday Evening 11-19-24
The Future Of International Trade Transactions In US Dollars In Iraq
Samir Al-Nusairi The US dollar is the first global currency for foreign trade transactions between countries of the world. It constitutes 80% of the volume of international financial transactions and represents about 60% of international reserve currencies.
The dollar is the only currency that accommodates large financial transactions in the oil and energy sector and global oil trades amounting to 100 million barrels in addition to other commodities. Other currencies constitute about (20%-25%).
The Future Of International Trade Transactions In US Dollars In Iraq
Samir Al-Nusairi The US dollar is the first global currency for foreign trade transactions between countries of the world. It constitutes 80% of the volume of international financial transactions and represents about 60% of international reserve currencies.
The dollar is the only currency that accommodates large financial transactions in the oil and energy sector and global oil trades amounting to 100 million barrels in addition to other commodities. Other currencies constitute about (20%-25%).
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The dollar plays a fundamental role in the control of the American economy over the global economy in various fields, and many countries tried to get rid of the dominance of the US dollar in previous periods, but they could not.
Therefore, the BRICS group was established, and its member states, namely China, Brazil, India and South Africa, are trying to limit the dominance of the dollar in international commercial and banking transactions, and the number of countries in it has now become about 9 countries.
After several countries joined, including Arab countries such as Egypt, the Kingdom of Saudi Arabia, and the United Arab Emirates, in addition to Ethiopia and Iran in 2024, and its main goals are to limit the dominance of the dollar in global trade, cooperation between the tax and customs authorities of the group’s countries, and to reach the creation of a new currency for use among the group’s countries.
Iraq, with the aim of reorganizing foreign trade financing, began concluding agreements with central banks with which Iraq has extensive trade exchange, in agreement with solid correspondent banks in China, India, the Emirates and Turkey, to deal in Chinese yuan, Indian rupee, Emirati dirham and Turkish lira, to achieve two goals:
the first is to enable our banks to agree with correspondent banks in these countries and other countries to deal directly with them after canceling the electronic platform, and
the second is to introduce new foreign currencies for commercial and banking transactions other than the US dollar, to enable banks that do not have US correspondent banks to continue their foreign transfers with those alternative countries according to special agreements with their central banks.
This can help control the reduction in the widespread local demand for the US dollar, create a state of balance in the money market, and maintain the purchasing power of the local currency, the Iraqi dinar. This method is now in effect, in addition to the existence of dealings in the US dollar as well. https://economy-news.net/content.php?id=50000
Foreign Minister And US Ambassador Stress Need To Continue Cooperation And Strengthen Partnership
Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein and US Ambassador Alina Romansky stressed the need to continue cooperation and strengthen partnership to serve common interests.
A statement from the Ministry of Foreign Affairs stated that "Deputy Prime Minister Fuad Hussein received the US Ambassador to Iraq Alina Romansky."
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The statement added that "the meeting discussed the results of the US elections and the expected new administration in Washington, in addition to reviewing the results of the Arab-Islamic Summit and the Climate Summit. The two sides also touched on the tense situation in the regional environment and current challenges."
It continued, "The two parties discussed the course of bilateral relations between the two countries during the current administration, and future expectations for these relations, while stressing the need to continue good cooperation between the two countries and strengthen the partnership to serve common interests." https://www.radionawa.com/all-detail.aspx?jimare=40311
Gold Prices Rise In The Capital Baghdad
Money and business Economy News – Baghdad Gold prices witnessed a rise in the wholesale markets on Al-Nahr Street in Baghdad, where the selling price of one mithqal of 21 karat Gulf, Turkish and European gold was recorded at 545 thousand dinars, while the purchase price reached 541 thousand dinars.
The selling price of one mithqal of 21-karat Iraqi gold was recorded at 515 thousand dinars, and the purchase price was 511 thousand dinars.
As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranged between 545,000 and 555,000 dinars, while the selling price of a mithqal of Iraqi gold ranged between 515,000 and 525,000 dinars. https://economy-news.net/content.php?id=49997
Oil Prices Fall Amid Production Shutdowns, War Fears
Energy Economy News – Baghdad Oil prices fell on Tuesday after rising the previous day due to a production shutdown at Norway's Johan Sverdrup oilfield, but investors remained cautious amid concerns about a possible escalation in the war between Russia and Ukraine.
Brent crude futures for January delivery were down 7 cents, or 0.1 percent, at $73.37 a barrel by 0119 GMT, while U.S. West Texas Intermediate (WTI) crude futures for December delivery were at $69.23 a barrel, down 7 cents, or 0.1 percent. The more active January contract for WTI was down 4 cents, or 0.1 percent, at $69.21.
“Investors remained cautious in assessing the direction of the war between Russia and Ukraine after the escalation we saw over the weekend,” said Toshitaka Tazawa, an analyst at Fujitomi Securities.
Meanwhile, supply concerns persisted due to production problems at some oil fields.
Equinor said on Monday that production from its Johan Sverdrup oilfield, the largest in western Europe, had been halted due to an onshore power outage. A company spokesman said work was underway to restart production, but it was not immediately clear when it would resume. https://economy-news.net/content.php?id=49987
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Trade: The General Population Census Will Be A Starting Point For Important Economic Transformations
Tuesday 19 November 2024 19:10 | Economic Number of readings: 45 Baghdad / NINA / The Ministry of Trade confirmed that the general population census is an important step in directing investments, which accelerate development steps in all regions of Iraq.
A statement by the ministry quoted the official spokesman for the ministry, Mohammed Hanoun, as saying: "The government's approach through conducting the general population census, despite the difficulties it faced, is aimed at attracting international efforts to the national labor market in a way that revives the economy, and gives those in charge of the economic file a clear vision of the economic reality by creating a database that represents a starting point for economic policies that aim to address the imbalance in the economic structure."
Hanoun pointed out that "the general population census step will accurately reflect the reality of human wealth and the percentage of young people, as they represent an important economic force that can be employed in the sectors of knowledge, investment, and various aspects of the economy that have the elements of advancement and development."
The official spokesman for the Ministry of Commerce confirmed that "the general population census is a statistical procedure that represents a database on the numbers of Iraqis and the nature of their work," noting that "it is the first of its kind in decades, as the last census was conducted in 1987."
He continued, "It is a developmental work, the aim of which is to direct the country's resources in the right direction, and it is a procedure that serves the country economically and socially, by addressing poverty and unemployment, identifying needy families, the number of workers and unemployed, and improving the economic situation in general. It is a "message of reassurance to citizens and the country alike, meaning that the country is now safe from saboteurs and terrorist acts, and in a position that allows it to carry out this major and important procedure.
" Hanoun confirmed that "the census will determine the actual number of residents inside the country, and those residing outside the country in cooperation with the Ministry of Foreign Affairs later, and non-Iraqis working and residing will be counted, which will contribute to limiting their numbers and knowing their living conditions."
He pointed out that "the census is the most important source of economic and social data for all countries of the world," indicating that "knowing the results of the census enables the formulation of general policies and the development of strategies related to investment, housing, education, health, and capital investment related to road and communications networks, and the development of public services and development programs, accompanied by enabling countries to distribute Budgets between administrative regions according to development needs.
He continued: "The census helps enable the private sector and investors to drive development, raise the level of urban planning, and support decision-makers in making decisions."
He explained: "The economic view of the population is limited to two aspects: The first is that the population is a consumer force that exerts pressure on the available economic resources, and that these pressures increase in intensity the more limited and unilateral the resources are." / End8
https://ninanews.com/Website/News/Details?key=1169924
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Tuesday Evening 11-19-24
Good Evening Dinar Recaps,
CHAINLINK COLLABORATES WITH MICROSOFT ON CBDC COMMISSIONED BY BRAZIL’S CENTRAL BANK
Blockchain oracle service provider Chainlink (LINK) is working on a pilot project for Brazil’s proposed central bank digital currency (CBDC) called DREX with Microsoft and other firms in the country.
In a press release, Chainlink says it is collaborating with Microsoft Brazil, digital bank Banco Inter and blockchain finance firm 7COMm to build a trade finance solution as part of the second phase of the DREX pilot.
Good Evening Dinar Recaps,
CHAINLINK COLLABORATES WITH MICROSOFT ON CBDC COMMISSIONED BY BRAZIL’S CENTRAL BANK
Blockchain oracle service provider Chainlink (LINK) is working on a pilot project for Brazil’s proposed central bank digital currency (CBDC) called DREX with Microsoft and other firms in the country.
In a press release, Chainlink says it is collaborating with Microsoft Brazil, digital bank Banco Inter and blockchain finance firm 7COMm to build a trade finance solution as part of the second phase of the DREX pilot.
The goal of the pilot, according to the announcement, is to “demonstrate the automated settlement of agricultural commodity transactions across borders, across platforms, and via different currencies.”
Chainlink will use its Cross-Chain Interoperability Protocol (CCIP) to create interoperability between Brazil’s Central Bank and other foreign banks using DREX, ensuring efficient transaction settlements.
The pilot also aims to tokenize an Electronic Bill of Lading (eBoL) – or receipts for cargo used by shippers and carriers – and put them on-chain using supply chain data to trigger payments to exporters.
Says Angela Walker, global head of banking and capital markets at Chainlink Labs,
“We look forward to working with the Central Bank of Brazil, Banco Inter, and Microsoft to demonstrate how the adoption of blockchain technology combined with Chainlink’s interoperability protocol CCIP can transform trade finance… Chainlink CCIP is essential to enabling secure cross-border, cross-currency, and cross-chain transactions and will help showcase what tokenized assets can do at scale for this key CBDC use case in Brazil.”
Chainlink’s CCIP technology was recently used by Swiss crypto firm Taurus in its proof-of-concept run with asset management giant State Street to tokenize funds.
Chainlink creator Sergey Nazarov recently predicted that CCIP would help real-world assets (RWAs) overtake the value of all other sectors in crypto, and become the main mechanisms that allows traditional finance to bring trillions of dollars into the blockchain industry.
“So this is kind of the world that I think we should all be preparing for, and that the Chainlink ecosystem is working towards, by both enabling DeFi to grow and be secure and reach the kind of level of reliability and guarantees that the DeFi community needs and that the TradFi community needs, and enabling the TradFi community’s value to flow onto blockchains and into the DeFi ecosystem eventually.
What this will result in, if it works as intended, is CCIP (cross-chain interoperability protocol) becoming one of the key protocols of the Internet, what we call the Internet of contracts and internet of value. Because CCIP is fundamentally the data and value transport mechanism by which that data and value flows into and across all of those chains.”
@ Newshounds News™
Source: The Daily Hodl
~~~~~~~~~
BRIAN ARMSTRONG PROPOSES US SOVEREIGN WEALTH FUND THAT PAYS AMERICANS DIVIDENDS THROUGH ELON MUSK’S D.O.G.E.
Coinbase co-founder and CEO Brian Armstrong is proposing a plan that would pay dividends to Americans while making the size of the government leaner.
Armstrong says on the social media platform X that President-elect Donald Trump’s proposed Department of Government Efficiency (DOGE) is a “once in a lifetime opportunity” to “cut the size of government back to health.”
According to the Coinbase CEO, America’s founding fathers may have failed to anticipate the tendency of politicians to promise more free stuff in an effort to get more votes.
“To future-proof this, we may need a constitutional amendment capping total government expenditure (at say 10%), or a way to align incentives.”
Armstrong says that the creation of a US sovereign wealth fund could potentially help in increasing federal government spending when necessary while curtailing expenditure over the long term.
“You’d ideally have a way to temporarily dial up burn (say in wartime), but still have the right incentives to not let spending get totally out of control longer term.
An example would be a US sovereign wealth fund, where every citizen gets a share (maybe people can buy more if they want), and any budget surplus pays a dividend.
Every citizen then has skin in the game. Maybe Congress gets a slightly larger stake.”
To support his argument for a leaner US federal government, the Coinbase CEO says,
“[Economist and Nobel laureate] Milton Friedman famously suggested the function of government be limited to:
1. Courts to enforce contracts and settle disputes.
2. Police to keep the peace at home (enforce laws, protect property rights).
3. Military for national defense.”
Billionaire tech mogul Elon Musk, who was handpicked by Trump to spearhead the Department of Government Efficiency (DOGE), responded to Armstrong saying, “Milton Friedman was great.”
Last week, President-elect Donald Trump announced he was appointing Musk and biotech entrepreneur, Vivek Ramaswamy, to lead DOGE shortly after his election. Trump said DOGE would help his administration’s quest to “dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures and restructure federal agencies.”
@ Newshounds News™
Source: The Daily Hodl
~~~~~~~~~
🌱 BIG REWARDS FROM STAKING! WHAT IS IT? | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
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FRANK26….11-19-24……NEGATIVE…
KTFA
Tuesday Night Conference Call
FRANK26….11-19-24……NEGATIVE…
This video is in Frank’s and his team’s opinion only
Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.
Frank’s team is Walkingstick, Eddie in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
KTFA
Tuesday Night Conference Call
FRANK26….11-19-24……NEGATIVE…
This video is in Frank’s and his team’s opinion only
Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.
Frank’s team is Walkingstick, Eddie in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE
Short Tuesday Evening Chat With MarkZ 11-19-2024
uesday Evening Chat With MarkZ
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: GE Mark and mods. It sure feels like we are getting really close. Let's do this already
Member: Does the Iraqi census have to complete b4 RV can occur?
Member: The census starts early tomorrow in Iraq…..
Tuesday Evening Chat With MarkZ
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: GE Mark and mods. It sure feels like we are getting really close. Let's do this already
Member: Does the Iraqi census have to complete b4 RV can occur?
Member: The census starts early tomorrow in Iraq…..
MZ: “A specialist determines the importance and objectives of the census and it has nothing to do with the citizens private life” It will allow them to allocate growth , roads ect…..they shut everything down and literally go door to door and count. They are also talking about changing, moving and expanding some redemption exchange centers in Iraq. Do they need more in certain areas? I heard this from a minister as another reason why they are doing the census.
MZ: I am now getting great chatter from the bond side. They are very hopeful and if they are right- by Thursday we should get an announcement. This is from some really solid contacts and I really hope they are right.
MZ: Some of my other top notch contacts said they have not heard that yet….so we will see. There is a lot of misinformation put out there on purpose.
MZ: Buckle up- we know things are close.
Member: Mark do you think the RV will go by Thanksgiving! ??
MZ: I hope we have our Christmas before Thanksgiving…..fingers crossed
Member: Thank to all for the encouragement Enjoy the rest of your night.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...
Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!
More News, Rumors and Opinions Tuesday PM 11-19-2024
KTFA:
Clare: Iraqi Prime Minister: Tomorrow we will take an important step that has been delayed for years
11/19/2024
Iraqi Prime Minister Mohammed Shia al-Sudani confirmed that tomorrow, Wednesday, will be an important civilized and developmental step, as the long-awaited general population and housing census will begin after years of delay.
Al-Sudani said in a televised speech, "We are starting to implement the general population census to complete the priorities of the government program, and we seek for the census to be a modern scientific tool in planning."
He pointed out that the government took the decision to implement the census with great confidence in the capabilities of its government agencies, and that it is determined to serve the Iraqi people.
KTFA:
Clare: Iraqi Prime Minister: Tomorrow we will take an important step that has been delayed for years
11/19/2024
Iraqi Prime Minister Mohammed Shia al-Sudani confirmed that tomorrow, Wednesday, will be an important civilized and developmental step, as the long-awaited general population and housing census will begin after years of delay.
Al-Sudani said in a televised speech, "We are starting to implement the general population census to complete the priorities of the government program, and we seek for the census to be a modern scientific tool in planning."
He pointed out that the government took the decision to implement the census with great confidence in the capabilities of its government agencies, and that it is determined to serve the Iraqi people.
He explained that "the best modern methods were adopted to conduct the census in a scientific and accurate electronic manner, so that the results would serve the present and future of Iraqis."
He also added that the database that will result from the census will be a valuable tool for serving state institutions, and will contribute to supporting the rights of the segments most in need of service.
He pointed out that "the census is not just numbers that accumulate, but rather it is the dividing line between guesswork and facts and a decisive means of determining vital and effective decisions."
The Prime Minister called on citizens to cooperate with the teams tasked with conducting the census, stressing that the census has nothing to do with tax issues or social protection, but rather is a pillar for development and progress in all sectors.
He also praised the role of the Ministry of Planning and the General Authority for Statistics and Information Systems in the preparations they made, and thanked the United Nations Population Fund for its support, as well as the security services that worked to provide a safe and stable environment for the implementation of this operation.
Al-Sudani concluded his speech by saying: “We are confident in the dedication of citizens for the progress of our country, and we believe in a bright future that Iraqis and future generations will be proud of.” LINK
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Clare: Parliamentary Finance Committee reveals the "impacts" of the population census on "provincial budgets"
11/19/2024
Member of the Parliamentary Finance Committee, MP Jamal Kojer, confirmed on Tuesday that the population census will re-budget all governorates, indicating that the results of the census will be adopted in the budget if it is completed before the budget is prepared.
Kocher said in an interview with Shafaq News Agency, "It is supposed to re-prepare the budget of all governorates, including the governorates of the Kurdistan Region, based on the population census on the one hand, on the resources on the other hand, and on the sensitivity of the region on the third hand."
He added, "There are governorates with high population density and therefore they must be taken into consideration in the upcoming budget. There are some governorates that lack resources or have resources, and these resources have social and health implications. Some governorates have a strategic dimension, for example Basra, Baghdad and Erbil, or some are gateways for the state with other countries."
He stressed that "the population census will have its effects in the next budget if the budget is prepared after the completion of the population census. However, if it is not completed, it will be postponed to the 2026 budget to adopt the census results." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat ...the CBI is once again educating the citizens and merchants on how the new process will replace the currency auctions. In the article titled “PRIVATE BANKS ASSOCIATION: IRAQ TO ADOPT ADVANCED TRADE FINANCE SYSTEM BY END OF 2024” once again they explain how the new process will work. Quote: “it is expected that by the end of the year there will be a transition to another more advanced and accurate system to enhance control over foreign transfers related to trade.”
Frank26 [Banks] don't want to lose customers. I told you you're Mr. Clampett, they're Mr. Drysdale. They're going to treat you like you have [money]. And I told you about perks...If you want to do business with one of these banks and you're in another state, they'll fly you in. They'll take care of your hotel. They'll pay for your food. They'll give you a rental car. You know how much money you're worth to them? That's why I use that example of the Beverly Hill Billies...There are a lot of perks they'll shower you with. They'll help you if you don't have your own team. I think you should get their team, your team, get a third team...You need advice. You need empirical data.
Silver Prices Set to SKYROCKET in 2025! Why Central Banks Are DOOMED!
Wall Street Silver: 11-19-2024
If You Think Bitcoin Is On Fire, Just Wait For The Natural Gas Boom
If You Think Bitcoin Is On Fire, Just Wait For The Natural Gas Boom
November 12, 2024 Notes from the Field By James Hickman / Simon Black
“Wow, these guys are going to be in for a rude wakening about how much power is going to be available. . .” thought Joe Dominguez, CEO of Constellation Energy.
Dominguez was one of the attendees last May at a private, invitation-only gathering of energy and tech company CEOs held at Microsoft’s headquarters. The whole point was to talk about power.
Everyone already knew that AI was consuming a lot of electricity, and they assumed this demand would grow. A lot. But they didn’t realize by quite how much until OpenAI co-founder Sam Altman told the group that just a single AI model will require as much power as a large city.
If You Think Bitcoin Is On Fire, Just Wait For The Natural Gas Boom
November 12, 2024 Notes from the Field By James Hickman / Simon Black
“Wow, these guys are going to be in for a rude wakening about how much power is going to be available. . .” thought Joe Dominguez, CEO of Constellation Energy.
Dominguez was one of the attendees last May at a private, invitation-only gathering of energy and tech company CEOs held at Microsoft’s headquarters. The whole point was to talk about power.
Everyone already knew that AI was consuming a lot of electricity, and they assumed this demand would grow. A lot. But they didn’t realize by quite how much until OpenAI co-founder Sam Altman told the group that just a single AI model will require as much power as a large city.
Again, that’s just ONE model. And there are plenty of them out there-- Google Gemini, OpenAI, Meta AI, etc. Every major tech company-- not to mention plenty of startups-- have developed or are developing power-hungry AI models.
In terms of energy demand and power consumption, AI will be the equivalent of adding several states to the US over the next few years. And America’s power grid simply doesn’t have the capacity.
Joe Dominguez understood that immediately… which is why his company teamed up with Microsoft to restart the Three Mile Island nuclear power station in Pennsylvania.
But one additional nuclear power plant is barely going to move the needle on America’s energy needs… and it takes way too much time to build new ones.
In fact, the most recent nuclear power facility to come online in the US took more than a decade to build. So even if the industry gets started today (which they won’t), and the permitting process were quick and easy (which it won’t be), nuclear power is still a long way out.
But there’s an easier option for the here and now: natural gas.
I’ve written about this before-- US natural gas is absurdly cheap, especially compared to global prices. That’s because there’s just so damn much of it in the US… combined with the fact that natural gas is complicated to transport.
Oil is simple. Tanker ships crisscross the planet transporting crude from country to country, so the global price for oil is similar everywhere.
But it’s not that way with gas. Natural gas has to first be decontaminated of various impurities at the wellhead in order to be transported in ‘dry’ form through pipelines, then stored underground.
At the moment there is no trans-Atlantic pipeline allowing US natural gas to flow to Europe. And building one would take years if not decades.
That’s why there’s such a tremendous price difference in natural gas between the United States and Europe. The US produces oceans of it but hardly uses it, hence a cheap price. Europe barely produces any but consumes it voraciously, so the price is more than 4x higher.
If only there were a readily available way to transport natural gas across the Atlantic… then US producers would be able to export to Europe. Natural gas would be more like oil-- a global commodity whose price is more or less the same around the world. And the US price would surge.
Well, there actually is a way to do that. Natural gas can be liquefied into a condensed form (about 1/600th of the gaseous volume) and transported at -163C.
Obviously, there’s a cost to liquefying and transporting gas. But a US producer can still make so much more money selling gas to Europe-- even after the additional costs are included.
And this started to happen around 2017; US producers began liquefying their natural gas and exporting to Europe in major quantities. Within a few years, LNG exports were booming.
But then, earlier this year, Joe Biden bowed to the climate fanatics and ordered his Department of Energy to cease issuing permits for new LNG export terminals… essentially shutting down export growth.
It’s safe to expect a totally different policy starting in January, i.e. more US natural gas will flow to Europe. That means less supply in the US. Natural gas prices will rise as a result… and probably by a LOT.
But don’t forget about AI.
Let’s first think about different ways to generate electricity and the types of fuels that are available.
There’s solar and wind, for example. The prices of solar panels in particular… and wind turbines to a degree, are both falling. In large part this is because the Chinese Communist Party heavily subsidizes its domestic solar panel industry.
So, wind and solar are somewhat price competitive. But they carry a security risk: do you really want China manufacturing your entire power grid? Is it possible they built a kill switch in their software?
More importantly, they’re not terribly reliable. There are times (like night!) when the sun doesn’t shine. Germany (which generates nearly 60% of its power from renewable energy) recently experienced yet another dunkelflaute, i.e. a foggy, doldrum period in which there is neither sunshine nor wind.
This doesn’t work for AI. Tech companies need reliability.
Then there’s coal… which is super reliable, not to mention cheap and efficient. But it’s one of the dirtiest fuels known to man. Google won’t get its hands dirty with that one.
Tech companies love nuclear. They understand it is, by far, the most efficient form of energy known to man. But again, new reactors are 10+ years away. AI needs power now.
And that pretty much leaves natural gas. The US has oceans of it and barely uses a fraction of its supply. It’s absurdly cheap. In fact, according to the US National Renewable Energy Laboratory, natural gas is THE cheapest fuel source per MW of electrical capacity.
It’s the cleanest of all the conventional sources. Plus, you can construct a new facility in about two years… so new power can come online quickly. And the Big Tech companies have demonstrated that they are more than willing to shell out the cash needed to finance natural gas power plants.
Between these two trends: AI power demand, and the upcoming export boom, natural gas prices are probably going to soar.
We’ve just watched the Dow Jones Industrial Average rise by 7% to an all-time high in the last week. Bitcoin has surged by more than 30% to its all-time high.
That’s nothing compared to what we could see in the natural gas price.
It’s obviously not going to happen in a week, these trends will take longer to unfold. But it’s definitely a good time to look at some of the extremely undervalued natural gas producers whose profits will boom.
To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC