Dinar Recaps Blog Page — Dinar Recaps (2024)

China and BRICS Shake the US Dollar: What Next?

Fastpo: 6-9-2024

The BRICS nations are intensifying their efforts to reduce reliance on the US dollar in global trade and finance.

This de-dollarization initiative has gained significant momentum with the recent inclusion of Saudi Arabia, Egypt, the UAE, Iran, and Ethiopia into BRICS as of January 2024.

A major step in this direction is the development of an alternative payment system to SWIFT, which is currently dominated by the US dollar.

This new system aims to facilitate international transactions independent of US financial control, reducing the geopolitical leverage of the US.

Additionally, the BRICS New Development Bank (NDB) is increasing its lending in local currencies of member countries, with a goal to have 30% of its loans in local tenders by 2024.

This reduces reliance on the dollar and mitigates risks associated with exchange rates and US monetary policies.

The expanded BRICS, now including major oil producers like Saudi Arabia, enhances its economic influence, supporting the de-dollarization agenda by integrating more economies capable of trading in local currencies.

There is also ongoing discussion about introducing a unified BRICS currency to further accelerate this shift, potentially altering the global economic power balance. These initiatives by BRICS signify a concerted effort to create a more multipolar global financial system, challenging the hegemony of the US dollar.

While the full impact of these measures will take time to manifest, the move towards de-dollarization marks a significant shift in global economic strategies.

But the de-dollarization do not limit to the initial BRICS move.

https://www.youtube.com/watch?v=yiqVhL-ce1o

TNT:

Tishwash: Iraq participates in the 27th Saint Petersburg International Economic Forum

The Ministry of Foreign Affairs announced, today, Sunday, participation in the 27th Saint Petersburg International Economic Forum.

She continued, "During the meetings, the economic challenges facing the world were discussed and how to find sustainable solutions in light of the current global transformations, and cooperation in the field of international transport was discussed, in addition to discussing cooperation in the field of artificial intelligence and digital technology and finding joint approaches to developing education in line with technological development in the world." the world". link

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

Militia Man Anybody going with Sudani is going against the mafias and going against those that are going to have their dollar auctions dry up. They're going to have lots of different little things happen to them that are going to be painful. Anybody that's holding the dollar when they change the exchange rate...those exchange companies, 197 banks that got tagged by the central bank...they're going to have a painful experience because if you're not large on the dinar and you own dollars and Alaq drops the three zeros, those guys are going to have a painful situation... They've been warned. They've been open about stopping the dollar auctions in Iraq for this year...

Frank26 [Iraq boots-on-the-ground report] FIREFLY: Alaq said Iraq returning to the glory days and it will surpass those days. FRANK: This caught me off guard. They're talking to them a lot. We told you they would...They're releasing the videos, we told you they would. Alaq is telling the people, look I got a mechanism, you know what it is, it's a new exchange rate... 'Iraq is returning to the glory day...and will surpass those glory days.' I told you, you would never see 1 to 1. There's a reason they kept it at 1310 and they're going to return back to the glory days which was $3.22 because this is an RI, reinstatement...IMO this is happening.

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

KTFA:

Clare: Details of a meeting in Baghdad to resume the export of Kurdistan oil

6/9/2024 Baghdad –

The head of the Kurdistan Regional Government Office, Omid Sabah, revealed today, Sunday, the details of a meeting held between a delegation from the regional government and the Ministry of Oil, in the capital, Baghdad, which is the first meeting of its kind to reach a comprehensive agreement regarding resuming the export of the region’s oil through the “Corporate Oil Company.” Sumo, National.
Sabah said, in a statement received by Mawazine News Agency, that “the delegation discussed with Oil Minister Hayan Abdul Ghani and senior officials in the ministry the outstanding issues between the governments of Erbil and Baghdad and issues of common interest.

He added that the meeting focused on the dues of oil companies operating in the region and the process of Resuming the export of Kurdistan oil, production costs, and mechanisms for addressing these issues, reaching a comprehensive and balanced agreement within the framework of the constitution, and re-pumping through the Iraqi Oil Marketing Company “SOMO” as soon as possible. LINK

MARKETS A LOOK AHEAD: From PETRODOLLAR To UNIVERSAL PETRO-CURRENCY.

Greg Mannarino: 6-9-2024

https://www.youtube.com/watch?v=X8wOiP_YvmA

Over 85,000 Bank Accounts Have Just Been Locked, This Is HUGE Red Flag

Atlantis Report: 6-9-2024

Over 85,000 Bank Accounts Have Just Been Locked, This Is HUGE Red Flag

In this fast-paced world of social media and 24/7 news cycles, it's not unusual to encounter headlines that grab your attention.

The news of a large-scale lockdown of bank accounts is not only concerning but also raises serious questions about the stability and reliability of our financial institutions.

Now we're unraveling the Saga of 85,000 Frozen Bank Accounts Imagine a situation in which more than 85,000 bank accounts have been abruptly terminated, leaving their owners in a dangerous position.

This situation is more than merely cautionary; it represents a substantial concern.

https://www.youtube.com/watch?v=rUbTZA0sTVA

Goldilocks' Comments and Global Economic News Sunday Evening 6-9-24

Good evening Dinar Recaps,

Saudi Arabia joins BIS- and China-led central bank digital currency project |Reuters

~~~~~~~~~

Breaking the Bank: Sen. Lee Introduces Bill to Abolish the Federal Reserve |Lee Senate

READ PDF HERE

~~~~~~~~~

Central Banks of the World Explained

~~~~~~~~~

Remember the Golden Rule! Whoever has the gold, makes the rules! |Economic Sociology

~~~~~~~~~

DTCC testifies to Congress on opportunities to advance financial markets |Asset Servicing Times

~~~~~~~~~

The New York Fed acts as the guardian and custodian of the gold on behalf of account holders, which includes the U.S. government, foreign governments, other central banks, and official international organizations.No individuals or private sector entities are permitted to store gold in the vault. |NewYorkFed

~~~~~~~~~

What Central Banks Do |Investopedia

On a macro basis, central banks influence interest rates and participate in open market operations to control the cost of borrowing and lending throughout an economy. Central banks also operate on a micro-scale, setting the commercial banks' reserve ratio and acting as lenders of last resort when necessary.

~~~~~~~~~

Central Bank |Wikipedia

In some countries a central bank, through its subsidiaries, controls and monitors the banking sector. In other countries banking supervision is carried out by a government department such as the UK Treasury, or by an independent government agency, for example, UK's Financial Conduct Authority.

~~~~~~~~~

Steady as we go: results of the 2023 CPMI cross-border payments monitoring survey |BIS

~~~~~~~~~

Cash isn't going away, despite declining use | PaymentsSource |American Banker

~~~~~~~~~

Russia and China to cooperate on Arctic shipping route |Ship Technology

~~~~~~~~~

New Law Grants U.S. President Sweeping Powers to Block Digital Asset Access, Sparking Concerns -Crypto Daily

~~~~~~~~~

Follow Goldilocks'Roadmap

Follow Goldilocks'Timeline

Goldilocks'Telegram Room

Q & ATelegram Room

Goldilocks on theSeeds of Wisdom Team™Website

Subscribe toNewsletter

Thank youDinar Recaps

Iraqi News Highlights and Points To Ponder Sunday AM 6-9-24

Reconstructing Iraq: The Role Of Banks In Financing The Future

Time: 06/08/2024 20:27:26 Read: 2,067 times {Economic: Al-Furat News} Reconstructing Iraq after years of wars and conflicts represents a great challenge, but it also represents an opportunity to rebuild a strong and sustainable economy.

A useful summary of important news can be found on the Al-Furat News channel on Telegram. To subscribe, click here

Banks play a crucial role in financing reconstruction, by providing the loans and credit facilities necessary to finance construction and infrastructure projects.

The Iraqi Deposit Insurance Company played an important role in enhancing the confidence of investors and depositors in the Iraqi banking system, which made it easier for banks to obtain the necessary financing for reconstruction. It is estimated that Iraqi banks have provided loans worth more than $10 billion to finance reconstruction projects in recent years.

Germany's experience after World War II is an inspiring example of how banks can play a crucial role in the country's reconstruction. The KfW German Development Bank has contributed to financing many vital projects in Germany, such as rebuilding industrial and residential infrastructure, and providing financing for small and medium-sized companies. LINK

The Immaturity Of The Baghdad And Washington Agreements Prompted America To Extend State Of Emergency

Policy Political: Information / Baghdad...Political analyst Ibrahim Al-Sarraj believed that the immaturity of the agreements between Iraq and America was behind the US administration’s move towards extending the state of emergency for the presence of its forces inside Iraq.

Al-Sarraj told Al-Maalouma, “Biden renewed the state of emergency for the presence of his military forces inside Iraq, and he based this extension on the outcomes of his meeting with Prime Minister Muhammad Shiaa Al-Sudani during his recent visit to Washington.”

He added, "The government's talk about scheduling the withdrawal of foreign forces from Iraqi territory never culminated and did not reach the level of an official agreement with the American administration." Ended 25 n. LINK

Baghdad Praises Its Financial Budget And Confirms: We Have Important Projects In 2024

Reconstruction and building Economy News – Baghdad Today, Friday, the Governor of Baghdad, Abdul Muttalib Al-Alawi, announced a package of projects in various sectors within the budget for the current year 2024, while confirming that the governorate’s allocations in the budget were good.

Al-Alawi said, “The financial allocations to Baghdad Governorate within the current year’s budget, 2024, are good,” explaining that “the government and the Parliamentary Finance Committee have an understanding and knowledge of the real needs and required resources in Baghdad.”

He added, "There is continuous communication with the government to meet the special needs required for the projects that will be implemented."

He pointed out that "the governorate has several important projects during the 2024 budget, including projects in the water sector and building schools and roads, as well as the construction of pedestrian bridges that will be implemented in all areas of Baghdad, the paving of main roads, and strategic projects for sewers at the four entrances to the capital, in addition to the almost completed hospitals, which are “Health centers and strategic water projects will be opened soon.”

He stressed that "all project packages will be placed on the list of priorities of Baghdad Governorate in stages of implementation, whether within last year's 2023 budget or in the 2024 budget."

219 views Added 06/07/2024 https://economy-news.net/content.php?id=44096

The Region Is Saturated With An Explosive Budget.. Since When Is “Laqmat Al-Sayyad” Kurdish?

Policy: June 8 Information/private.. The southerners learned from the Sumerians to fish in order to live on the flesh of fish in the rivers and marshes, and to provide a decent life for themselves and their children. We have not heard of a Kurd in the mountains of Iraq who is more skilled than a southerner in this profession, and every rule has its exceptions in this matter. Then the most prominent thing that distinguishes a fisherman during eating What he caught was a favorite morsel called the “fisherman’s morsel,” which was boneless and tasted the most beautiful of all the meat in the fish.

Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..

Except in the 2024 budget, the regional government clearly excelled in a wonderful fishing method through which it was able to reap 12-17% of the Iraqi money fish, and this percentage is what we called “the fisherman’s bite,” a round that the Kurds won with the approval of the center or against its will.

*Little Revenue

Speaking about this file, a member of the Finance Committee in the House of Representatives, Moin Al-Kadhimi, revealed that the region’s share in the 2024 budget amounts to 12.67%, excluding governing and sovereign expenses.

Al-Kadhimi said in a statement to the “Al-Ma’louma” Agency, “The regional government only handed over 85 billion to Baghdad in non-oil revenues, which is an amount that is not proportionate to the actual revenues,” noting that “the region’s share of the budget amounted to 12.67, of the actual budget expenditure, which is excluded.” “Governing and sovereign expenses.”

He continues, “The region is not honest with the Baghdad government, and there is significant oil smuggling, in addition to the failure to control border crossings and non-compliance with General Customs Authority fees, which greatly affects the country’s economy,” pointing out that “the regional government’s lack of transparency with Baghdad is not in its interest.” "It will cost her a lot."

Al-Kadhimi concluded by saying: “The central government in Baghdad must monitor the work of the border crossings in the region periodically by sending committees to inspect and audit those crossings and find out the entry fees for materials into Iraq.”

The region is saturated with an explosive budget.. Since when is “Laqmat al-Sayyad” Kurdish? E91f5d58-1a96-4cbd-8a7d-eb2d1b00d5c4The region is saturated with an explosive budget.. Since when is “Laqmat al-Sayyad” Kurdish?

In addition, a member of the State of Law coalition, Saad Al-Muttalabi, revealed the region’s share of the 2024 budget, while confirming that it is considered the largest “explosive budget” in the history of the region, describing it as explosive.

Al-Muttalabi said in a statement to the “Al-Ma’louma” agency, “The region’s budget for this year is the highest in its history, as it reached more than 17% of the general budget, which totals 211 trillion dinars,” noting that “the region’s salaries are paid directly from Baghdad at a rate of 70%.” , of the region’s budget, and 30% that no one knows anything about.”

He continues, “The political blocs in the House of Representatives voted on the budget tables and witnessed no objection except from independent representatives, which means that the political blocs are involved in increasing the region’s share in exchange for a reward and large projects,” pointing out that “the political blocs are involved in granting the region an explosive budget.” Because of their vote on the budget and its passage.”

Al-Muttalabi concludes in a recent statement: “The amendment of the schedules by the government and granting the region an explosive budget was followed by support from the political blocs by voting on them, indicating that the government and political parties are involved in this unfair financial distribution.”

It is noteworthy that the region’s share in the 2023 budget amounted to 16 trillion and 690 billion dinars, while former member of the Kurdistan Regional Parliament, Jihad Hassan, stated that the region’s share in the year 2024 amounted to 20 trillion and 900 billion dinars, an increase estimated at 4 trillion and 210 billion dinars. LINK

Provoking Thoughts and Points To Ponder On Adversity

Prosperity tries the fortunate; adversity the great. -Pliny the Younger

Be willing to have it so; acceptance of what has happened is the first step to overcoming the consequences of any misfortune. -William James

If all our misfortunes were laid in one common heap, whence every one must take an equal portion, most people would be content to take their own and depart. -Solon

I never knew any man in my life who could not bear another's misfortunes perfectly like a Christian. -Alexander Pope

When the world has once begun to use us ill, it afterwards continues the same treatment with less scruple or ceremony, as men do to a whor*. -Jonathan Swift

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Turkey Just Changed the Entire Future of Europe with THIS One Move!

Cyrus Janssen: 6-9-2024

Turkey to join BRICS! It's official, Turkey is moving away from the EU and will move closer to BRICS, China, and Russia.

Turkey has been a NATO member since 1952 and this is the first time we've seen a NATO member shift away from the US and EU and move closer to BRICS.

What does this mean for the future of Europe and geopolitics around the world? Let's break it down!

https://www.youtube.com/watch?v=QqBxoFC1twI

How The End Of The US Empire Will Affect You | Matthew Piepenburg

Liberty and Finance: 6-9-2024

Gold is replacing the US dollar as a reserve currency, says Matthew Piepenburg This is not the end of the US dollar or America, but it is the end of American hegemony.

Piepenburg urges people to pay attention to what really matters and reject the culture wars that are causing even more chaos in the U.S. Staying in reality is important.

And in the financial realm, it is imperative to hold real assets in these times of deception.

NTERVIEW TIMELINE:

0:00 Intro

1:20 Fiat currency crisis

14:53 Inflation is theft

17:50 BRICS+ Dollar holdings

29:00 Gold repatriation & accumulation

35:20 True freedom

43:00 Reject mainstream media

https://www.youtube.com/watch?v=Qb3KBDrz_E8

Economic Crisis "Much Worse than 2008" Imminent with Henrik Zeberg

WTFinance: 6-8-2024

On this episode of the WTFinance podcast I had the pleasure of welcoming back Henrik Zeberg. During our conversation we spoke about Henrik's current thoughts on markets, why bull market could extend to September, what this means for his portfolio, risk of an economic crisis "much worse than 2008" and more. I hope you enjoy!

0:00 - Introduction

0:54 - Current thoughts about markets?

2:30 - What has changed outlook?

5:20 - Prolonged bull market?

8:17 - Key economic indicators?

12:31 - Similar to end of 2022?

16:17 - Repeat of 2008?

21:27 - Exposure to high beta

24:18 - Crypto price targets?

24:33 - meme stock trend

28:05 - Position after top?

30:14 - Thoughts on precious metals?

32:58 - What happens after crash?

37:30 - One message to takeaway from our conversation?

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

TNT:

Tishwash: Al-Sudani: The government has provided a safe investment environment and financial and banking facilities that are attractive to experienced companies

Tishwash: Iraq bids farewell to the list of “high-risk countries”

Observers and specialists in political affairs expressed their optimism about Iraq’s exit from the list of “high-risk countries” that was officially announced by the International Task Force (FATF) last week, noting that the international declaration represents an important step in the correct path that the Sudanese government is taking in achieving reforms. Financial and economic along with political stability.

Political affairs analyst, Qasim Balshan Al-Tamimi, told “Al-Sabah”: “Iraq’s exit from (the follow-up area) and from the list of (high-risk countries), according to the announcement of the International Task Force (FATF), is a very important step,” noting that “the announcement The International Bank came as a result of the reforms carried out by the Central Bank of Iraq, as well as the procedures and reforms of the Office of Combating Money Laundering and the Financing of Terrorism.”

He added, "Iraq's exit from the list also comes as a result of the legislation of the Anti-Money Laundering Law No. 39 of 2015, and also the establishment of the Anti-Money Laundering Council," and explained that "Under the announcement of the International Working Group, Iraq has become outside the monitoring and follow-up process, and this means that it has regained the confidence of the group."

"By restoring this confidence, Iraq can play a major and pivotal role in the region and in the world, and this step would also make Iraq a destination and a source of interest for major international development and investment companies." The International Financial Action Task Force (FATF) officially announced Iraq’s exit from the follow-up area, due to the significant progress achieved by the Central Bank of Iraq and the Anti-Money Laundering and Combating the Financing of Terrorism Office in improving and addressing deficiencies and in fulfilling all its obligations towards the recommendations of the Financial Action Task Force and addressing the requirements of the strategy to combat money laundering and financing of terrorism. Terrorism, and thus Iraq is no longer subject to monitoring and follow-up by the international Financial Action Task Force (FATF).

For his part, the political analyst, Ali Al-Baidar, stated in an interview with “Al-Sabah” that “Iraq’s exit from the list of the most corrupt countries is evidence that the Sudanese government is not a government of services - as it is referred to - but rather a reform government that has achieved many political and governmental aspects and prevented "A lot of cases of corruption."

He noted that "Iraq's exit from the list confirms the important steps that the government has worked on, and from here we can look at the deep vision with which the authority dealt with and the method of implementing its service programs in a reform manner, many of which were directed towards preventing corruption, such as activating electronic automation, and there is also awareness Socially, it contributed to rejecting cases of rampant corruption in recent years.”

He explained that "the fingerprints that Al-Sudani placed on the wheel of reform were reflected positively on the projects and the clarity of vision for many matters related to services and reform. It also appears that Prime Minister Muhammad Shia Al-Sudani laid the foundation for basic visions and ideas that are reflected in the lives of Iraqis, including creating a culture of transparency and integrity, and this The matter affects Iraq's reputation positively, and also affects international support and the creation of an investment environment in Iraq to attract companies, and these are the first fruits of reform that Sudanese reaped as a result of the positive repercussions of his government program.” link

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

CandyKisses: Within months. Jump in Indian merchandise exports to Iraq

According to data from the Indian Ministry of Commerce and Industry, the value of direct Indian exports to Iraq amounted to 3.4 billion US dollars, up from 2.7 billion dollars for the same period last year.

According to a report released by the institution today, India's rice exports rose 131 percent to $910 million, up from the same period last year, which was worth US$392 million.

Fossil fuels decreased by 9.15% to $799 million from $879 million.

Indian meat exports increased by 41.5% to US$329 million from US$232 million for the same period last year.

Iron exports also increased by 153%, tea exports by 141%, fruit exports by 114%, clothing exports by 106%, and vegetable oil exports by 103%.

The commodities that fell were sugar, whose exports from India to Iraq fell by 85%.

The report indicates that India is the fifth exporter to Iraq of goods after the UAE, China, Turkey and Iran, and the establishment of India's exports is considered direct to Iraq, and may rise if it is added to the value of re-exported goods from the UAE, which is represented by a large percentage of Indian products.

On the other hand, the value of Iraq's exports to India, mainly of crude oil, decreased from 34 billion US dollars compared to 30 billion US dollars in the period from April 2023 to March 2024.

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

Tishwash: Association of Private Banks: Iraq witnessed a major revolution and widespread change in electronic payment tools

The Iraqi Private Banks Association confirmed today, Sunday, that Iraq has witnessed a major revolution and a wide change in the level of use of electronic payment tools since 2023, while indicating a significant increase in the size and number of electronic payment operations.

The Executive Director of the Iraqi Private Banks Association, Ali Tariq, told the Iraqi News Agency (INA): “The Iraqi Private Banks Association Foundation and the Iraqi banking sector are fully prepared to cooperate within the directions of the Central Bank of Iraq, which are greatly supported by government directions, especially after the recent visit to the United States.” The American efforts resulted in framing the process of working to solve the problems related to preventing the use of the dollar for a group of Iraqi banks.”

Tariq added, “The role of the Association of Private Banks believes in implementing these trends related to amending work mechanisms, using modern technical tools, and reviewing previous accounts,” stressing that “the Association will be very supportive of these trends.”

He pointed out that "the Association of Private Banks hopes for the return of banks that can meet the above requirements," pointing out that "the issue that occurred on the private banking sector had negative effects," adding that "the general trends and the banks' directions must be to repair the damage that occurred in the stage." previous".

He stressed that "Iraq has witnessed a major revolution and a wide change since the previous year until now in the level of use of electronic payment tools, which the government has approved the adoption of electronic payment in government or private institutions," noting that "Iraq has also witnessed a significant increase in the volume of operations and the number of operations related to electronic payment, In addition to an increase in the number of bank cards, and doubling the number of electronic payment points (pos), therefore there is a big change.”

He stressed that "the current year will witness significant and tangible change by the citizen."

Tariq pointed out that "the institution seeks as much as possible to strengthen relations between electronic payment companies and banks on the one hand and between government institutions and the Central Bank of Iraq on the other hand, in addition to educating the community on the continuous use of electronic payment tools link

Iraq Economic News and Points To Ponder Sunday AM 6-9-24

Investment Law In The Balance Of The Economy

Economical 06/06/2024 Dr.. Adnan Hadi Jaaz

There is no doubt that investment is one of the most important factors that can contribute effectively to

correcting the defect in the structure of the Iraqi economy,

diversifying sources of income, and

reducing dependence on oil.

Reaching this goal is one of the most important strategic goals that contribute to Iraq’s stability and development and confronting economic, political and social crises.

Therefore, the law that is drawn up to

attract investment must direct the financial surpluses of Iraqi society and

make them move in the direction that uses capital efficiently and

achieves the maximum for Iraq. Possible benefit.

Private sector investments, whether local or foreign, are among the most important factors that can be relied upon to solve the problems of the Iraqi economy.

The private sector is the second wing of the economy, and

reality and history have proven that its distance from the economic scene was one of the biggest historical mistakes in Iraq.

However, in a quick reading of the new investment law, we are disappointed according to our vision and economic ambitions, and fears have increased for the future of this country’s economy, and

in this article we try to explain the reasons for this not optimistic vision.

According to our reading, the proposed investment law is nothing more than a law for investment in residential cities, which is not considered a channel for transferring the financial surpluses of Iraqi society into the hands of a small, non-productive group, some of whom are foreign.

The investor in building residential cities can import all the materials he needs for the project without any return to the state or the state treasury.

He can grant the land for free, and we all know that the lands overlap and there is no difference between what is inside the basic design and outside it.

Obtaining financial facilities and soft loans.

After 25% of the project is completed, he has the right to withdraw the capital and profits in full.

He has the right to employ foreigners, and of course these facilities will be used to import many times the materials and goods that the investor needs, which is the biggest source of increasing his profits and exporting foreign exchange many times the amount he obtained. Return as well as remittances of foreign workers.

As for what was mentioned in the privileges, he has the right to use what he increased from the land after the completion of the residential project without restricting or even specifying the land

This is a lot of talk.

If we assume that he decided to build facilities that are not appropriate for the privacy of Iraqi society, or any of the investments that are not appropriate for them to be in residential areas.

Does the law allow us to prevent it?

The second question is: He has the right to invest the surplus, regardless of its size: five, ten, or even twenty dunams, and perhaps more!

All of this is for the sake of producing housing units that are so far beyond the capacity and capacity of the middle class and even those with above-average incomes, and so far we only see from it an increase in the well-being of the wealthy by isolating them and settling them in private cities and in return absorbing the community’s financial surpluses and exporting them abroad.

Is this goal worth all these high economic costs?

Yes, it can stimulate the economy and increase growth if Iraq produces what the real estate sector needs, and

therefore we say that it is an expansionary financial policy that aims to increase growth rates and income by increasing production rates and thus increasing employment and income rates in a way that contributes to solving the unemployment problem that haunts the political class and always threatens it. By failure.

If we give the land for free with exemptions from taxes and fees, in addition to an interest-free loan to the investor, and we allow the employment of foreigners, and

we allow the export of foreign exchange, which is the financial surpluses of citizens and the loans that came from the Central Bank and Iraqi banks,

then all these sacrifices are for the sake of increasing the well-being of the wealthy, nothing more and nothing less.

There is a real solution to the problem of housing the poor and the middle class, and even if the needs of these segments are to be met, there are shorter and much less expensive ways, as the cost is great and very significant for the economic policy in general.

If we assume for the sake of argument that the visionary aims to increase the supply of housing units until it exceeds demand, then the gradual decline in prices will begin.

I believe that with the presence of crazy financial surpluses, including money laundering and the legalization of corruption funds, and some segments on which there are no restrictions, and

they are many without detail, this is what I call the effect.

The double negative of this money is that it deducts from public funds and exploits citizens.

It works to increase prices in a way that cannot be kept up with in the real estate sector, and real estate in Baghdad and Basra are the best examples.

Therefore, this goal is difficult to achieve and requires a long period of time or for these cities to reach remote areas. Too far.

We must be patient in approving this law, and we must push financial surpluses of all kinds in another, more efficient direction, as

they are an important financial resource and the key to solving many of Iraq’s economic, political and social problems.

We push them towards industry, especially with goods that meet the needs of the real estate sector and modern agriculture that meets the market’s need, and this is something that can be achieved.

Easily with the very large profit opportunities from the very large movement of the real estate sector due to the support of the financial and monetary policies represented by the initiatives of the Central Bank,

then it can be said that Iraq is pursuing a financial and monetary policy with clear features and results for the present and the future, and that these reasons for the investment law are somewhat logical.

https://alsabaah.iq/97948-.html

Provoking Thoughts and Points To Ponder On Adversity:

From a fallen tree, all make kindling. -Spanish proverb

The virtue of prosperity is temperance; the virtue of adversity is fortitude, which in morals is the heroical virtue. -Francis Bacon

The keenest sorrow is to recognize ourselves as the sole cause of all our adversities. -Sophocles

No untroubled day has ever dawned for me. -Seneca

You can't have more bugs than a blanketful. -Spanish proverb

Even in the deepest sinking there is the hidden purpose of an ultimate rising. Thus it is for all men, from none is the source of light withheld unless he himself withdraws from it. Therefore the most important thing is not to despair. -Hasidic saying

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

I’m a Financial Advisor: Here Are the 6 Worst Secrets You Can Keep from Me

Cara Danielle Brown Sat, Jun 8, 2024,

Some may be surprised to learn that the relationship between a client and their financial advisor can be an intimate one — largely because the events occurring in a client’s personal and professional life can have a significant impact on his or her financial future. And that means all those events — no matter how bad or ugly — need to be disclosed. It may even help to think of your financial advisor like a monetary life coach.

For various reasons, ranging from pride to shame, clients often fail to reveal sensitive information to their advisors which can put their financial future in jeopardy. To find out more, GOBankingRates spoke with seasoned financial advisors to reveal the worst secrets you can keep.

Income or Assets from Illegal Activities

For CFP Stephen Kates, this one tops the list largely due to the fact that there is a risk such activities might taint the advisor, which can destroy their career. If a client manages to hide income or assets from unsavory activities and this comes to light, the blowback for the financial advisor could include civil fines, sanctions and reputational damage.

And it’s not as simple as the financial advisor claiming ignorance given the “Know Your Client Rule,” which lays out a process of background checks that financial institutions must adhere to in order to guard against financial crimes. If anything manages to creatively slip through the cracks, the punishment can be swift.

Hiding Assets or Investments

Kates explained that some clients take a piece-meal approach to money management, choosing not to disclose certain assets because they prefer to manage them on their own or have an entirely different financial institution manage them instead. However, Kates said, “One of the most important parts of building a portfolio is having a cohesive strategy. When you hide assets, you risk the advisor recommending investments that are not appropriate in light of the true breadth of your assets.”

Overstating Income

On the opposite end of hiding assets is overstating income, explained certified financial planner and founder ofRetire to Abundance, Tyler Meyer, who once had a couple report their income as 30% higher than it actually was. Turned out, they were reporting their gross income instead of their net income.

“We had to have a very real conversation about why they weren’t hitting their savings goals,” said Meyer. “We were able to set more realistic goals, including their savings rate, but more importantly, a more realistic timeline to retire.” Overstating income can lead to inappropriate investment strategies and unrealistic goals.

Hidden Debts

In the absence of a complete financial picture, Meyer explained, advisors can’t adequately help clients in effectively managing their debt, avoiding excessive interest payments or prioritizing debt reduction.

To Read More:

https://finance.yahoo.com/news/m-financial-advisor-6-worst-140019772.html

KTFA:

RMF: Just thinking out loud. If I remember right Parliament passed the 2024 Budget Schedules on 5/3/24. Then the Budget went directly to the Gazette on the 4th.

Now we know that if not signed it goes into effect automatically 15 days later...which takes us to the 20th of June...the stuff dreams are made of.

Always hopeful and believing this may be the month the people and investors have something to celebrate.

Of course any day would be just fine to wake up and find that I can stop worrying about paying my bills. etc.

Frank26: "THE SUCCESS OF THE MONETARY REFORM HAS GIVEN IRAQI BANKS A SUCCESSFUL MECHANISM FOR THE IRAQI CITIZENS".........F26

Reconstructing Iraq: The role of banks in financing the future

6/8/2024

Reconstructing Iraq after years of wars and conflicts represents a great challenge, but it also represents an opportunity to rebuild a strong and sustainable economy.

Banks play a crucial role in financing reconstruction, by providing the loans and credit facilities necessary to finance construction and infrastructure projects.

The Iraqi Deposit Insurance Company played an important role in enhancing the confidence of investors and depositors in the Iraqi banking system, which made it easier for banks to obtain the necessary financing for reconstruction. It is estimated that Iraqi banks have provided loans worth more than $10 billion to finance reconstruction projects in recent years.

Germany's experience after World War II is an inspiring example of how banks can play a crucial role in the country's reconstruction. The KfW German Development Bank has contributed to financing many vital projects in Germany, such as rebuilding industrial and residential infrastructure, and providing financing for small and medium-sized companies. LINK

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

Frank26: "IF I WAS SUDANI... I WOULD CELEBRATE WITH THE PRESS ALSO."........F26

Al-Lami chairs the meeting of the Supreme Committee for Press Day celebrations

6/8/2024

Today, Saturday, the head of the Iraqi Journalists Syndicate, Muayyad Al-Lami, chaired the meeting of the Supreme Committee for Press Day celebrations, while stressing the importance of showing the bright image of Iraq to the delegations that will visit Iraq.

The union stated, in a statement, a copy of which was received by {Al-Furat News}, that “Al-Lami chaired the meeting of the Supreme Committee charged with preparing for the celebrations of the National Day of the Iraqi Press on its 155th anniversary, reviewing before the members of the Supreme Committee assigned by the Prime Minister the union’s procedures regarding the invitation Hosting delegations and personalities from various countries of the world, which include Arab and foreign ministers of culture and information, heads of Arab media institutions, and international organizations concerned with journalism and media.

She added, "The meeting reviewed the preparation of all logistical and technical requirements for holding the celebrations, most notably the preparation for the central celebration that will be held in the Al-Zawraa Hall of the Al-Rashid Hotel on the morning of Sunday, June 30, under the auspices of the Prime Minister, the celebratory festival of the union’s branches in the governorates, which will be held in the gardens of Abu Nawas Street, and the public celebration in the center."

Cultural and social activities, One Thousand and One Nights, as well as hosting meetings of the General Secretariat of the Arab Journalists Union.”

The union continued, “The meeting discussed the facilities that the supporting bodies represented by a number of ministries and other departments will provide to make this national celebration a success,” noting, “The meeting included representatives of the Ministries of Foreign Affairs, Interior, Culture, Transport, the Intelligence Service, the Baghdad Operations Command, the Baghdad Municipality, and the Iraqi Media Network, in addition to members.” Union Council.

Al-Lami stressed "the importance of showing the bright image of Iraq and the major reconstruction campaign that the country is witnessing in front of the Arab and foreign media delegations that will participate with the journalistic family in its celebrations this year of the National Day of the Iraqi Press, which represent more than (50) countries around the world." LINK

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

Mnt Goat The electronic systems are taking hold...This will allow the shrinkage/withdrawal of the tangible currency notes from the market that is needed in the process to Delete the Zeros...a critical part of it...I can remember hearing as far back as 2010 from Dr Shabibi the importance of the electronic banking effort and its advantages to the process. Yes, they MUST shrink down the currency mass...if you shrink down the monetary mass than what is left will be worth more.

Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani and Alaq...gave us a big speech...He started to compare corruption to terrorism saying we are not in terrorism as bad anymore, more secure, however corruption is still a daily thing...It is due to a lack of enforcing the anti-corruption law...Sudani said corruption will end and the tools needed will be utilized to its full maximum capacity to stop this corruption. FRANK: He's trying to explain to you what he promised to you but he's not going give it to you in this ugly environment...so they can steal it again.

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

The IQD Wait What's Taking So Long?

Edu Matrix: 6-9-2024

The IQD Wait: What's Taking So Long?

The 2003 Invasion, ISIS, and the Pandemic have all contributed to the delay in the Iraqi Dinar's increasing value.

Iraq's economy got into trouble during the Iran-Iraq eight-year war and has been struggling ever since.

https://www.youtube.com/watch?v=UzKAOX8VugQ

The Economic Ninja: The Petrodollar will be Destroyed on June 9th, 2024

June 8, 2024

The economic world is abuzz with the recent prediction by the enigmatic figure known as the Economic Ninja. In a bold statement, they have declared that the Petrodollar will be destroyed tomorrow, June 9th, 2024. But what does this mean for the global economy, and should we take this claim seriously

Let’s delve into the inner workings of the Petrodollar system and scrutinize the Economic Ninja’s arguments.

The Petrodollar System: A Brief Overview

To understand the potential destruction of the Petrodollar, we must first grasp its concept. The Petrodollar system was established in 1973 when the United States and Saudi Arabia reached a historic agreement. In essence, the United States would provide military protection to the Saudi kingdom, and in return, Saudi Arabia would denominate all oil sales in US dollars. This arrangement created a global demand for US dollars, as any country needing to import oil had to first acquire dollars, thereby strengthening the US currency’s position and influencing the global economy.

The Economic Ninja’s Case Against the Petrodollar

The Economic Ninja’s prediction is rooted in several factors, including the recent shift in global economic power, the rise of cryptocurrencies, and the ongoing geopolitical tensions. They argue that the Petrodollar’s days are numbered due to the following reasons:

1. The Decline of the US Dollar: With the increasing US debt and the rise of other economic powers like China and the European Union, the dominance of the US dollar is waning. Countries are seeking alternatives to the dollar for international trade and reserves, thereby weakening the Petrodollar’s foundation.

2. The Emergence of Cryptocurrencies: Decentralized digital currencies, like Bitcoin, pose a significant threat to the Petrodollar. Their borderless, anonymous, and secure nature appeals to nations and organizations seeking autonomy from the US-led financial system. If countries start adopting cryptocurrencies for oil transactions, the Petrodollar’s demise will accelerate.

3. Geopolitical Tensions: The ongoing tensions between the US and major oil-producing countries, such as Iran and Venezuela, have prompted these nations to explore alternatives to the Petrodollar. For example, Iran and Russia have already started trading oil in local currencies, bypassing the US dollar.

Analyzing the Prediction: Fact or Fiction?

While the Economic Ninja’s argument is compelling, predicting the exact date of the Petrodollar’s demise is ambitious, if not impossible. The global financial system is complex and interconnected, with numerous variables and stakeholders. Moreover, the US still holds significant influence over the global economy and the international political landscape, making a sudden collapse of the Petrodollar unlikely.

However, it is undeniable that the Petrodollar is facing challenges, and its days as the dominant global reserve currency may be numbered. The trend towards alternative currencies, the increasing US debt, and the ongoing geopolitical tensions all contribute to the potential weakening of the Petrodollar. The economic world should take these warnings seriously and prepare for a possible shift in the global financial landscape.

In conclusion, the Economic Ninja’s prediction of the Petrodollar’s destruction on June 9th, 2024, may be more of a symbolic call-to-action than a precise forecast. Nevertheless, it serves as a reminder that the global economy is constantly evolving, and the Petrodollar’s days as the undisputed global reserve currency might indeed be numbered.

Stay informed, stay vigilant, and stay prepared for the future of the global economy.

https://youtu.be/Lz4a-mjBcIk

https://dinarchronicles.com/2024/06/08/the-economic-ninja-the-petrodollar-will-be-destroyed-tomorrow-on-june-9th-2024/

KTFA

Saturday Conference Call

FRANK26—6-8-24

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

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

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

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