Dinar Recaps Blog Page — Dinar Recaps (2024)

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FRANK26…..7-7-24…….ALMOST WHITE

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=D7lasnF9DR0

BRICS Intra-bank Payment System Launched: What next?

Fastepo: 7-7-2024

Russia and Iran, as two BRICS members, have finalized the integration of their national payment systems, a significant step toward enhancing their economic cooperation and circumventing U.S. sanctions.

The heads of the central banks from both nations have been working closely to link Iran's SEPAM system with Russia's System for Transfer of Financial Messages (SPFS).

This integration will allow the two countries to conduct trade and financial transactions using their national currencies, the ruble and rial, reducing their reliance on the U.S. dollar and the Western-dominated SWIFT system.

The new system will enable Iranian and Russian banks to issue and accept each other's bank cards, facilitating smoother transactions for businesses and individuals in both countries.

This move is seen as a strategic effort by both nations to mitigate the impact of international sanctions and strengthen their economic ties.

Russia, heavily sanctioned due to its invasion of Ukraine, and Iran, facing long-standing sanctions related to its nuclear program and other issues, are increasingly collaborating to build financial infrastructure independent of Western influence.

The first trade transactions using this new system have already taken place, and both countries are optimistic about the potential to significantly increase their annual bilateral trade, aiming to double it from $4 billion to $8 billion.

This integration is part of a broader effort to create a more resilient and self-sufficient economic partnership between Russia and Iran, further solidifying their alliance against Western economic pressures.

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

TNT:

Tishwash: Central Bank hosts meeting to regulate e-commerce in Iraq

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired the meeting of the Diwani Order Committee (24079) to regulate e-commerce in Iraq with the participation of the concerned authorities.

During the meeting, the draft e-commerce and consumer protection system was discussed through the controls discussed by the attendees, through the registration procedures and obtaining a license to practice this trade.

The committee contributed to defining the service provider and granting him a license through an electronic platform established by the Ministry of Trade. The committee members stressed the need to establish controls for granting a license to those wishing to practice e-commerce in a manner that preserves the rights of all parties.

The attendees agreed to submit the "system paper" to the Council of Ministers for review and approval to proceed with work on it.

Central Bank of Iraq
Media Office
July 7, 2024 link

Clare: Economist explains why the dollar fluctuates

Economic researcher Alaa Al-Fahd diagnosed, today, Saturday, a factor that caused the dollar price to rise against the Iraqi dinar in the parallel market.

Al-Fahd said in a press interview that "the fluctuations in the dollar exchange rate in the parallel market came as a result of the Central Bank of Iraq taking new measures regarding selling currency to travelers and delivering amounts from the airport exclusively."

He added, "When there are new measures, there are fluctuations in exchange rates," noting that "there are those who try to raise concerns with any new measures taken by the Central Bank in order to benefit some speculators."

The economic researcher pointed out that "the Central Bank has reassured more than once that it will continue to sell the currency and cover all needs, whether for imports or travel, and there are no concerns." link

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Tishwash: Investment shows the importance of the Singapore Agreement.. What are its details?

The National Investment Commission confirmed, today, Sunday, that the Singapore agreement will accelerate the increase in Iraq's international classification, while clarifying regarding financing projects of local, Arab and foreign investors in Iraq.

The head of the commission, Haider Makiya, said: “The investment classification of emerging countries in 2024, conducted by FDI Intelligence, ranked Iraq fourth, indicating the confidence provided by investment in Iraq, specifically the National Investment Commission, in providing a safe legislative environment for the investor to settle in Iraq and return large capital to implement infrastructure projects and achieve sustainable development.”

He added, "The Singapore Agreement will accelerate and speed up the increase in Iraq's international rating, which is a sovereign rating for the whole world, and thus Iraq's rating will be known when it is good."

He pointed out that "all investors in the world will come without any restrictions or conditions as long as the legislative environment exists and governs their work in Iraq, and thus the process of attracting money to enter it will proceed easily and smoothly."

He pointed out that "project financing may be internal or external. If Iraq joins the international agreements, the process regarding foreign investors will be governed by the agreements. However, if the investor is local or Arab and wants to take financing, he will be subject to Iraqi laws regarding financing." link

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

Militia Man Article: "Prime Minister's Advisor: Iraq in the process of paying off long-term development loans to the World Bank" It looks like Iraq's financial situation is solid as they get effectively. She has so many revenue streams coming on board now it will only get better and the World Bank, the IMF, the UST, etc all know it. Hence, the view of Iraq will bring confidence to the largest Banks and Financial Entities in the world. That was broadcasted globally too.

Frank26

Iraqi Trade Bank's Progress on Debt Collection

Nader: 7-7-2024

https://www.youtube.com/watch?v=2HfINwzvko8

MARKETS A LOOK AHEAD: A NEW PHASE OF HYPER-DEBT HAS ALREADY BEGUN.

Greg Mannarino: 7-7-2024

https://www.youtube.com/watch?v=cVBZ8K2V-No

Some Thoughts On America For Her 248th Birthday

Notes From The Field by James Hickman (Simon Black Sovereign Man) July 3, 2024

When the 56 delegates to the Second Continental Congress ratified the Declaration of Independence 248 years ago tomorrow, they were creating much more than a nation. They were giving birth to an idea.

America, at its core, is an idea. And it’s one that ranks as one of the greatest innovations in the history of human civilization, right up there with the wheel, the steam engine, the printing press, and the Internet.

The idea of America wasn’t born in 1776, however. By then it had already evolved over thousands of years.

The ancient Greeks embraced individual liberty, direct democracy, and a respect for the rule of law.

The Roman republic further refined Greek democracy and developed a more professional legal code. The early Roman Empire embodied peace through strength, ushering in nearly two centuries of geopolitical stability and economic prosperity under the Pax Romana.

The later Byzantine Empire fused Greek and Roman ideas with Judeo-Christian values. And by 1000 AD, the Republic of Venice– borrowing from Rome’s republican form of government– infused an early form of capitalism to this model.

The Dutch republic of the 1600s refined the concept of a powerful, free, capitalist society even further, as did philosophers like Rousseau, Montesquieu, John Locke, and Adam Smith.

So, when the Founding Fathers wrote the Declaration of Independence (and subsequently the US Constitution), they didn’t have to start from scratch; they drew from a rich, 2,000-year intellectual heritage of the giants who came before them.

This means that America is ultimately a composite of the very best ideas that human civilization ever had to offer— and the combined concept was then elevated to unprecedented heights.

Nothing is perfect, and America wasn’t either.

But based on this idea, the United States became the world’s largest economy in less than a century and the dominant global superpower about 80 years later. That is an unparalleled achievement which no other superpower in human history has come close to matching.

It’s also worth pointing out that the majority of the world’s most important innovations, from airplanes and air conditioning to cell phones and chocolate chip cookies, were either born or perfected in America.

Again, none of this is an accident. America’s success is the deliberate outcome from combining the best ideas from 2,000+ years of human civilization… plus some disciplined execution and a little bit of luck.

Obviously, America has weathered challenges as well. The Civil War. The Great Depression. The turmoil of the 1960s.

But its foundation of economic potential, plus a baseline of social cohesion and shared values, have always allowed the nation to overcome… and for the idea of America to persist.

The country is now at an undeniable crossroads, and it’s not just about a single election.

There are obvious signs of national decline: rising inflation, mounting debt, diminished global standing, a loss of government dignity, and stinging embarrassments like the shameful withdrawal from Afghanistan.

Even the idea of America itself is on the ropes; there are powerful forces within government, media, and the education system who seek to redefine America’s core principles.

Capitalism has been demonized and reinvented. Individual liberty has given way to a radical woke ideology. And the concept of limited government is almost a punchline at this point.

Still, there is a plausible scenario in which America’s best days are ahead.

If politicians embrace the principles that originally fueled the country’s prosperity—such as capitalism and laissez-faire productivity—America could experience an economic boom not seen since the Industrial Revolution.

By cutting taxes, slashing anti-capitalist regulation, and embracing the free market, the increase in productivity could be staggering.

This boom would lead to increased tax revenue, i.e. funds which could rebuild the military, secure the southern border, save Social Security, curb inflation, balance the budget, and chip away at the national debt.

As China buckles under the consequences of its central planning and upside-down demographic pyramid (brought on by its idiotic “One Child policy”), the United States could easily reassert its global primacy.

The dollar’s status as the global reserve currency would be unquestioned, and the world could see a new era of global peace and prosperity.

This is not a pipe dream. It’s a genuine possibility.

The other possibility is that the government does nothing to arrest America’s decline.

The debt continues to spiral further out of control. Rising deficits trigger painful inflation. Excessive regulation stifles economic growth, leaving the economy stagnant and performing far below its full potential.

Individuals are constrained by politicians’ incessant and debilitating rules about how to live, what to buy, and what to drive. The social fabric continues to tear apart with idiotic mandates, censorship, wokeness, gaslighting, and a hatred for capitalism.

Unfortunately, that is the road the country is presently on. Yes, it can be fixed. They can change directions. And we certainly hope that happens.

But as we used to say in the military, hope is not a course of action. That’s why we have a Plan B.

Having a Plan B is not being negative or pessimistic. It’s certainly not irrational. And it’s not unpatriotic.

The fierce individuality to NOT bow down to circ*mstances is exactly what has allowed America to persevere so many times before.

And taking sensible steps to preserve, protect, and defend what you have worked so hard to achieve in life is about as core of an American value as it gets.

James Hickman

James Hickman (aka Simon Black) is an international investor, entrepreneur, and founder of Sovereign Man. Hisfree daily e-letter Notes from the Fieldis about using the experiences from his life and travels to help you achieve more freedom, make more money, keep more of it, and protect it all from bankrupt governments.

More Articles By James Hickman

https://www.schiffsovereign.com/trends/some-thoughts-on-america-for-her-248th-birthday-151123/

The Central Bank Reveals The Volume Of Its Hard Currency Sales

Time: 2024/07/07 Read: 780 times {Economic: Al Furat News} The Central Bank of Iraq’s sales, on Sunday, from the hard currency auction for the US dollar during the month of June amounted to more than 4 billion dollars.

During the month of June, during the days in which it opened its auction for buying and selling the US dollar, the Central Bank sold 4 billion, 438 million, 744 thousand, and 273 dollars, at a daily rate of 295 million, 916 thousand, and 284 dollars.

Foreign remittance sales during the past month amounted to 4 billion, 50 million, 289 thousand, and 273 dollars, an increase of 90% compared to cash sales, which amounted to 388 million, 455 thousand dollars.

These sales were distributed between transfers abroad to finance foreign trade, and cash sales to banks, while the selling price of documentary credits and international settlements for electronic cards reached 1,310 dinars per dollar, while the selling price of transfers abroad and the cash selling price reached 1,305 dinars per dollar. LINK

How Do We Control The Rise In The Price Of The Dollar?

The distinguished financial expert Mahmoud Dagher provides the answer

July 6, 2024 Baghdad/Iraq Observer Financial expert Mahmoud Dagher talks to “Iraq Observer” about the ways in which it is possible to control the rise in dollar prices in local markets.

Watch the video clip via the link below:

https://youtu.be/szUd5lr2Ovk?si=ay52hTAvF5DOAamf

https://observeriraq.net/كيف-نسيطر-على-ارتفاع-سعر-الدولار؟-الخب/

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[approximate translation of https://youtu.be/szUd5lr2Ovk?si=ay52hTAvF5DOAamf ]

0:00 Peace be upon you, he adopts

0:03 Iraq has a fixed exchange rate system, meaning its currency is the dinar

0:09 It is fixedly linked to the dollar, which means that

0:14 There is one buying price and one selling price

0:20 Deviation is allowed only within limits from one to

0:24 Two and not continuously but what is going on

0:30 reality

0:31 There is a gap of up to 10%

0:37 Show the official rate adopted by the bank

0:40 The central bank and the transactions taking place in it

0:44 The market returns most

0:49 this 0:50 The difference is as follows

0:54 First, there is a commission imposed by banks

0:59 Merchants

1:01 About the price

1:02 The official one is there

1:05 Commission imposed by him

1:08 Importing merchants at the official price

1:14 on

1:16 the sales

1:19 For individuals, there are commissions charged on sales

1:23 Dollar

1:24 With cards, commissions are charged

1:27 On dollar sales in Western transfers

1:31 And German

1:34 Gram return to fixed exchange rate should be terminated

1:38 These commissions

1:40 With a well-thought-out program and steps

1:44 And it's clear

1:46 Let us know that there is a commitment to the exchange rate system

1:50 Firm and do not deviate from it. Thank you very much

https://observeriraq.net/كيف-نسيطر-على-ارتفاع-سعر-الدولار؟-الخب/

The Central Bank Hosts A Meeting To Regulate Electronic Commerce In Iraq

July 07, 2024 His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired the meeting of the Diwani Order Committee (24079) to regulate electronic commerce in Iraq with the participation of the concerned authorities.

During the meeting, a draft system for e-commerce and consumer protection was discussed through the controls discussed by the attendees, through registration procedures and obtaining a license to practice this trade.

The committee contributed to defining the service provider and granting it a license through an electronic platform established by the Ministry of Commerce, and the members of the committee stressed establishing the controls for granting a license to those wishing to practice electronic commerce in a way that preserves the rights of all parties.

While the attendees agreed to submit the “regulation paper” to the Council of Ministers for review and approval to proceed with work on it. Central Bank of Iraq information Office 7 - July 2024 https://cbi.iq/news/view/2612

Is Iraq Able To Activate Direct Flights To Europe And America?

Money and business Economy News – Baghdad The Ministry of Transport clarified, today, Sunday, the possibility of activating direct flights to Europe, America and other countries.

The Ministry's media office stated: "Regarding the activation of transit to serve travelers to other countries, in order for Iraqis to leave via Iraqi Airways, and then fly via other companies, specifically Europe, we are currently working on it via IATA or AT3PIS."

The office added: "As for other countries such as (America, Canada), which will be included in the AT3PIS file in the event that the flight to Europe with a 737 aircraft is successful, we can introduce AT3PIS into the Dreamliner aircraft, meaning that the work is related to the AT3PIS method, i.e. the Iraqi Aviation Authority, with other authorities."

The office continued: "As for African countries, there are not many requests, and we will work on the (Baghdad-Tunis) line," noting that "as for East Asian countries, the ministry is waiting to receive the remaining modern long-haul aircraft, such as the Dreamliner, through which the (Thailand-Jakarta-Bali) line will be opened."52 views 07/07/2024 - https://economy-news.net/content.php?id=44974

To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/

KTFA:

Clare: Urgent... Office of Imam Sistani: Next Monday is the first day of the month of Muharram

7/6/2024

The office of the supreme religious authority, Grand Ayatollah Imam Sayyid Ali al-Sistani, in Najaf al-Ashraf announced that tomorrow, Sunday, is the last day of the month of Dhu al-Hijjah, and Monday, corresponding to (7/8/2024 AD), is the first day of the month of Muharram for the year 1446.

Thus, Wednesday, July 17, is the tenth of Muharram (Ashura). LINK

Clare: Airlines set date to resume flights between Baghdad and Moscow

7/6/2024

Today, Saturday, the Director General of Iraqi Airways, Manaf Abdul Moneim, revealed the date for resuming direct flights between Iraq and Russia after their recent suspension.

Abdul Moneim said in a statement by the Ministry of Transport, a copy of which was received by {Euphrates News}, that "the first direct flight will be carried out on July 16th."

He explained that "restarting the direct flight line between Baghdad and Moscow came in line with the directives of the Minister of Transport, as it is one of the vital transport lines that serve the Iraqi community present on Russian territory."

He added, "The number of flights has been set at two flights per week on Saturdays and Tuesdays as a first stage, with the opportunity to allocate additional flights after studying the volume of demand for the aforementioned sector." LINK

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Clare: Iraq announces the start of direct flights between Baghdad and Beijing

7/6/2024 Baghdad

Iraqi Airways announced the start of direct flights from Baghdad to Beijing after a hiatus that lasted for several years.

A statement by the Ministry of Transport received by "Al-Eqtisad News" stated that "in line with the directives of the Minister of Transport, Razzaq Muhaibis Al-Saadawi, on the necessity of expanding the destinations of the national carrier to various regional and international sectors, the Iraqi Airways administration announces the start of direct flights from Baghdad to Beijing after a hiatus that lasted for several years," noting that "the first flight took off this afternoon from Baghdad International Airport to Beijing Daxing International Airport."

The company's general manager, Eng. Manaf Abdul-Moneim, said according to the statement that "the resumption of operation of this vital line between Iraq and China, which is the second of its kind after the (Guangzhou) sector, is an important step, especially since it will open new horizons of joint cooperation between the two countries," noting that "the number of scheduled flights for this sector has been set at two flights per week, going from Iraq on Saturdays and Tuesdays, and returning from Beijing on Sundays and Wednesdays, in addition to allocating the latest aircraft to serve the line, which are the Dreamliner model, distinguished by its ability to cover long distances and high travel comfort." LINK

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Clare: How much is Iraq's loan from the IMF?

7/6/2024 Baghdad

The financial advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Saturday, that zeroing out the debts to the International Monetary Fund reflects Iraq's high and solid creditworthiness, while indicating that Iraq is in the process of paying off long-term development loans to the World Bank.

Saleh told the Iraqi News Agency (INA): "Iraq has entered into about 5 programs with the International Monetary Fund since 2004 until the end of 2018, including 3 credit readiness programs, and all of them were characterized by providing loans whose function is to support the state of stability and economic reform in Iraq in two directions. The first: loan programs, as Iraq received loans from the International Monetary Fund to help it overcome economic crises, as these loans included supporting the general budget and financing economic stability programs, especially during the war on ISIS terrorism."

He added: "As for the other trend: in the field of economic reforms, the International Monetary Fund usually requires countries that receive loans to implement certain economic reforms. In the case of Iraq, these reforms included improving the management of public finances and the banking sector, enhancing transparency, combating corruption, and reforming the energy sector."

He pointed out that "these loans did not exceed $5 billion per loan, and the actual withdrawal from them would not exceed $3 billion or more in each case, and according to a repayment program that takes place every 6 months with grace periods of two years before repayment with a moderate annual interest, which usually does not exceed 4.5%, and the terms of these loans do not exceed five years."

He pointed out that "Iraq has paid off the loans that were withdrawn during the last twenty years according to regular payment mechanisms and are close to zeroing out, unless they are all zeroed out today, which reflects the high and solid creditworthiness of the Republic of Iraq in repayment before the international financial community in particular and towards multilateral international financial organizations in general."

He continued: "But certainly there are long-term development loans from the World Bank that are still in place, which is another development financial organization, and amount to a few billion and are in the process of being repaid, and some of them are still in the process of being committed to being withdrawn to be spent on completing development projects contracted with the World Bank, and they are also long-term soft loans."

He stressed that "cooperation relations continue between Iraq and the International Monetary Fund in various fields, including providing technical advice and supporting economic policies," noting that "the relationship between Iraq, the International Monetary Fund and the World Bank is important for achieving economic stability and sustainable development in the country."

He pointed out that "Iraq has been a founding member of the International Monetary Fund and the World Bank since 1945." LINK

Clare: Parliamentary Finance to NINA: Oil companies’ dues added to budget tables, government coordination to resume exports

The Vice-Chairman of the Committee, Ikhlas Al-Dulaimi, stated in a statement to the National Iraqi News Agency /NINA/, that "the general budget tables approved by the Council of Representatives are the ones adopted by the government, thus canceling any financial texts and paragraphs mentioned outside it," and pointed out that there are allocations for the costs of oil production and transportation worth 3 trillion and 800 billion dinars, which were added to the general budget tables.

She added, "If an agreement is reached between the federal government and the region to resume oil exports, the federal Ministry of Finance and the Ministry of Oil and Natural Resources in the region will proceed to coordinate to find a mechanism to disburse those amounts and pay the dues of oil companies."

She explained, "The oil companies operating in the Kurdistan Region, the region requests 6 months' amounts and there are contracts signed between the two parties that are difficult to cancel, because they are giant foreign companies that will resort to the judiciary and sue the region and the federal government." LINK

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Clare: The Iraqi Private Sector and Improving the Investment Environment in the National Development Plan 2024-2028

7/6/2024 Samir Al-Nusairi

During the past three months, the Ministry of Planning and the specialized work teams have made efforts to prepare and prepare the National Development Plan 2024-2028, the draft of which addressed in detail the main challenges facing the Iraqi private sector and the main objectives aimed at achieving its effective contribution to improving the investment environment.

While I agree with what is stated in the plan, we emphasize the need to add the basic pillars stated in the private sector development strategy.

For the years 2014-2030, and in particular its three time periods, its four pillars, its four pillars, what has been achieved since its launch in 2014, and what has not been achieved.

It is also necessary to state what has been achieved from Iraq’s Vision 2030, which clearly outlined the path to achieving a “strong and developing private sector.”

In addition to determining what has been achieved during the implementation of previous national development plans and the economic, financial and banking reform strategy included in the government program of the current government and what is the real role through which the private sector should contribute with government participation and support in managing the overall economy. This requires providing a legislative environment and a stable business environment and focusing on the axes that aim to build sound preliminaries for the transition to a complete economic reform.

This is what we all agree on, but this requires the government and the private sector in all its banking, industrial, agricultural, energy, health, construction, tourism and service sectors to participate and cooperate in implementing the transitional, medium and long-term economic reform strategy.

This means involving the private sector in a greater role in economic decision-making and leading the market institutionally and legislatively through the following:

1- Contributing with the government to improving the business environment in Iraq and providing an encouraging investment climate to attract national and foreign capital in accordance with the government’s program and encouraging and stimulating the achievement of partnerships between the public and private sectors in financing and developing development projects that have achieved implementation rates.

Good and its allocations are included in the general budgets of 2024 and 2025

2- Contributing with the government to creating a new legislative environment based on Article (25) of the Permanent Constitution, the strategies and laws related to economic reform, the private sector development strategy, its pillars and specific contents, in a way that ensures its activation and leadership of the market in the future.

3- Maintaining and activating the partnership, dialogue and cooperation between the private sector and the government by taking rapid measures to activate the Private Sector Development Council and start its work under the chairmanship of the Prime Minister, enacting a special law for it and forming a joint advisory council from the government and private sectors linked to the council that includes experts from the various economic sectors nominated by the council members and provides its advice and works according to a special system approved by the council.

4- Contributing with the government in developing policies, mechanisms and strategies and participating in following up on their implementation to resolve the transition to time-programmed stages to a market economy.

5- Working with the government to provide additional sources of funding for the state’s general budget by adopting the development and diversification of resources towards raising the percentage of resources other than oil in the gross domestic product, by activating the real economy and diversifying sources of national income.

6- Work to encourage the establishment and development of small, medium and micro enterprises in order to achieve comprehensive and sustainable development, including the formation of specialized institutions for this purpose and issuing a special law to develop and advance these projects and determine their economic feasibility and benefit from the Riyada initiative launched by the Prime Minister and the National Lending Strategy launched by the Central Bank on 5/25/2024.

7- Cooperation in financing and ensuring the implementation of central plans to provide infrastructure to encourage and develop the private sector in industry, trade, agriculture, tourism, health, energy, construction, strengthening and services.

8- Activating the role of specialized banks and private banks to provide soft loans to the national private sector, as well as finding solutions to the problems of taxes and accumulated interest incurred by owners of projects that have stopped production, and setting a short- and medium-term financial policy.

9- Coordination and cooperation with the relevant ministries and financial and statistical institutions, especially the Ministries of Planning and Finance, in building a financial and statistical information base and ensuring its transparency. LINK

Al-Sudani's Advisor Comments On The Fluctuation Of The Dollar Price: It Does Not Suit The Strength Of Iraq's Foreign Reserves

Economy |Today Baghdad Today – Baghdad Mazhar Muhammad Salih, the Prime Minister's economic advisor, confirmed today, Sunday (July 7, 2024), that the fluctuations witnessed by the secondary or parallel dollar exchange market during the past days are not commensurate with the strength of Iraq's international or foreign reserves.

Saleh said in an interview with Baghdad Today, "These are the actions undertaken by speculators looking for emergency profitable opportunities here and there," indicating that "the fixed exchange rate system in Iraq is based on international reserves, which is the highest in the history of Iraq, and its monetary policy, as foreign currency covers a percentage of more than 100% of the total currency currently issued."

He added that "the dollar exchange rate compared to the dinar in the parallel market does not constitute any relative importance in influencing the stability of the general price level, as this general price level has become stable in its components and trends due to the influence of the official exchange rate factor currently dominating the financing of foreign trade (imports), amounting to 1320 dinars per dollar," explaining that "this represents a stable trend for the exchange rate and the stable external value of the dinar revolves around it, which is embodied by the state of stability in the relative prices of goods and services to a large extent, as annual inflation in our country does not exceed 3%."

He pointed out that "in light of the strength of the foreign reserves supporting the Iraqi dinar, the value of which as liquid foreign assets exceeds 100 billion dollars, the official exchange market, as a general trend, will remain dominant in containing any colored noise or ambiguous information that affects the parallel exchange market in short periods due to urgent international or regional political events here and there or in adapting some instructions regulating the monetary market."

He explained that "after the decline of the dollarization phenomenon in domestic transactions, especially in contracts, obligations and payments within the country since last year and its legal prohibition, the parallel exchange market has become such that its general effects today only form a narrow economic scope of prohibited transactions practiced by informal markets and at a rate of 10% of the total supply and demand transactions for the currency."

Saleh stressed that "the stability of the exchange rate of the dinar to the dollar that the country is witnessing, even in the secondary markets, is a real and solid stability. Rather, it is derived from the strength of the impact of the price and quantity factors of the monetary and financial policies and their integration in imposing overall price stability in the country and containing inflationary expectations that were caused by the forces of the parallel exchange market during the past years," stressing that "the irregular secondary market, due to the freedom of external transfer, is under the influence of the official exchange market rate, whose operations are constantly expanding in favor of dealing with the fixed official exchange rate."

The price of the dollar against the Iraqi dinar has witnessed a noticeable increase in the past few days, as the exchange rate in the local markets reached 150,000 dinars for every 100 dollars. LINK

Currency War Rages On, Iraq's Economy The Biggest Loser

July 6 20:16 Information/Baghdad.. After Iraq opened up to China commercially, Iraq gained a point that is considered the most important, which is dealing in the Chinese yuan, despite its rarity, as Iraq deals in the US dollar when selling its oil abroad. America’s sense of danger forced it to fight international dealings outside the scope of the dollar, in order to maintain its dominance in the economic arena.

Follow "Al-Maalouma" channel on Telegram.. News that does not need verification..

More political than economic, two things linked together that enable countries to rule the world in one way or another, and preserving the interests of the government requires malicious policies like those America is currently implementing, without taking into account the economy of the affected peoples like Iraq and others. All of these explanations and more lie in the issue of stopping dealing in the Chinese yuan.

*Scaling The Economy

Speaking about this file, Ali Al-Zubaidi, a member of the Nabni Alliance, considered that the attempt to stop dealing in the Chinese yuan in Iraq’s foreign transactions by the US Federal Reserve is political pressure and a restriction on the Iraqi economy.

Al-Zubaidi said in a statement to Al-Maalouma Agency, "America is exerting economic pressure on Iraq to gain political gains," noting that "stopping Iraq's external dealings with the Chinese yuan comes to limit Iraq's economic role and the dominance of the US dollar."

He added, "The rise in the dollar price in the Iraqi markets is a result of the Federal Reserve imposing sanctions on transactions in the Chinese yuan and stopping dealing with it," noting that "America is exerting pressure to remain in Iraq for as long as possible."

Since the beginning of 2023, the Central Bank of Iraq has issued several decisions aimed at maintaining the stability of the general monetary and economic situation and confronting the risks of fluctuations in the exchange rate of the Iraqi dinar against the US dollar, the most important of which is strengthening the balances of Iraqi banks that have accounts with Chinese banks - in Chinese yuan.

*Dinar Threat

In this regard, economic expert Ahmed Abdul Rabbo said today, Saturday, that stopping dealing in the Chinese yuan will greatly affect the Iraqi economy, while he confirmed that the coming days will witness a significant increase in the price of the dollar against the Iraqi dinar.

Abdul Rabbo said in a statement to Al-Maalouma Agency, "Stopping transactions in the Chinese yuan by America through imposing sanctions on the banks dealing with it is a blatant interference in the Iraqi economy and cannot be ignored," noting that "limiting Iraq's transactions in the US dollar strengthens America economically and increases its hegemony over Iraq."

He added, "Imposing sanctions and stopping transactions in the Chinese yuan is a political matter more than an economic one," calling on the government to "intervene in this matter because the Iraqi market is full of Chinese goods, and such a decision will raise their prices for the common citizen."

Economic expert Nabil Al-Marsoumi had previously stated that Iraq intends to rely on the Chinese yuan for the purpose of trade exchange with China, in addition to the European euro, the Emirati dirham and the Jordanian dinar, as the Iraqi authorities seek to provide other foreign currencies for local dealings in addition to the US dollar. LINK

Warren Buffett Said That He Could End America's Deficit Problem 'In Five Minutes' — here's what he would do

Vishesh Raisinghani Sat, Jul 6, 2024

There’s growing concern about a looming debt crisis in America. High-profile financial figures such as Bridgewater’s Ray Dalio and JP Morgan’s CEO Jamie Dimon have shared their concerns about the record U.S. national debt in recent months.

However, legendary investor Warren Buffett proposed a solution to the nation’s borrowing issue more than a decade ago.

"I could end the deficit in five minutes,” he told CNBC’s Becky Quick in a 2011 interview. “You just pass a law that says that any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.”

The Oracle of Omaha believes this simple solution could solve one of America’s more stubborn issues.

Incentives dictate actions?

Buffett’s longtime business partner the late-Charlie Munger once said, "Show me the incentive, and I will show you the outcome." It’s a philosophy that guides the business decisions and compensation plans across Berkshire Hathaway.

This is probably why Buffett believes a deterrent for the American government and lawmakers could shift the way they spend tax dollars. If lawmakers see their re-elections at risk, they may be more careful about government deficit spending.

This isn’t an unusual idea. Germany has a hard cap on deficit spending which has compelled successive governments to reign in spending over the years.

However, there is no hard cap on America’s deficit. As of May, the federal government has spent $1.2 trillion more than it has collected in fiscal year 2024. In the first quarter of 2024, federal debt as a percent of GDP was 97.3%.

This large debt burden and the lack of spending restraint is causing some economists and investors to worry about a potential debt crisis.

How can ordinary investors protect their wealth if the government is left with no choice but to keep printing more money to pay off the debt and drives inflation and interest rates higher? Wharton Professor Kent Smetters spoke to Business Insider about assets that can be used to hedge against a possible economic downturn in such a scenario. His advice is buying assets that the government would be last in line to default on.

Treasury Inflation-Protected Securities (TIPS)

U.S. treasury bonds are generally considered a low-risk investment because lending money to the U.S. government has been a reliable bet for centuries. However, bond investors are still subject to wealth erosion through inflation — which could spike in a debt crisis. Professor Smetters recommends Treasury Inflation-Protected Securities that offer the safe and stable return of a bond with downside protection.

To Read More: https://finance.yahoo.com/news/warren-buffett-said-could-end-113400320.html

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.

Global Currency Reset: (Opinions/Rumors)

Guesses of a Possible Timeline for RV, forward from JR. on Telegram

We are supposed to have RVbefore NESARA was officially released to public to get accounts set up in the month of July.

Almost all RV GURUS and Intelhave all stated we should only take 10 days to go through all the currency holders before lockdowns (since they are going to be open 24/7 for 10 days) More redemption centers in higher populated areas. Our email confirmations an Ph #s have been given to 5 + websites.

All Intel states were going to have 3 to 10 day lockdown of the internet to reveal to the masses. This is when they announce at the END of that announcement.

They have new QFSaccounts that they will have to go in. To get there Quantum account set up at the closest bank or redemption centre in their area.

EMAILS have to come in from now up to no later than Tuesday June 9th to get into the Redemption Centers before the lockdowns.

JULY 20th to start lockdowns for 10 days to get QFS an MED-BEDS released to the world at the very end of this MONTH

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Judy Note: What we think we know as of Sun. 7 July 2024:

There will be an Internet Blackout.

The White Hat Military is in control of the redemption process, which has released funds across the World for the Global Currency Reset.

All banks have signed Non Disclosure Agreements.

The funds come directly from the US Treasury Department of Defense Operations – that go out to Treasury Departments in other countries.

Japan has revalued their currency.

Bond Holders have begun to be paid in Brazil.

Notifications have gone out to Tier 4a, a small group of Tier4b and some Bond Holders.

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Sat. 6 July 2024 Wolverine. “It has started. It is a process hopefully completed by the 20th. I’m hoping to get the Green Light in a few days.”

Fri. 5 July 2024 Banker: “Well folks it’s not like we haven’t heard this before but, I just got off a call from Hong Kong, London, NYC, Reno, and me. They are indicating that certain bond holder groups are having funds disbursed to paymasters over this weekend and that we as currency holders should remain vigilante for notifications this coming week. An FYI only as banker has not suggested same.

Sat. 6 July 2024: Bombshell Report! This is your Financial Bible | This is the Quantum Financial System Manual of GESARA-NESARA & XRP! – American Media Group (amg-news.com)

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Global Financial Crisis:

Sat. 6 July 2024 This is absolutely insane: Annual US government spending reached a MASSIVE $6.5 trillion in May, just $1.1 trillion below the March 2021 record. The government total outlays have DOUBLED in just a decade. To put this into perspective, this is more than the size of most world economies except the US and China. Meanwhile, the US budget deficit hit $1.7 trillion, or 6.2% of GDP over the last 12 months. In the past, such levels of spending have only occurred during major crises. What’s the long-termplanhere?

Sat. 6 July 2024: 90% of all trade between China and Russia is conducted in Ruble or Yuan after ditching the US Dollar.

Read full post here: https://dinarchronicles.com/2024/07/07/restored-republic-via-a-gcr-update-as-of-july-7-2024/

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

Militia Man Key players are ready to get this thing done. It's a very good sign. I honestly believe we're watching history in the making...We're seeing progress like no other...If you're paying attention I think you guys should be really pumped and excited that things are happening.

Sandy Ingram If the Iraqi dinar revalued next week are you ready? ...Understanding this one fact, you will do just fine. The wealthy never never ever spend their bases or the foundation of their wealth. In your case this would be the profits from your Iraqi dinars...Wealthy people invest their initial profits. The first person they hire is a financial advisor. The second...is a tax professional...to make sure Uncle Sam doesn't get large sums of their money. If you do anything else you are in the fast lane to going broke.

Why Iraq Has Two Exchange Rates

Edu Matrix: 7-7-2024

Update Why Iraq Has Two Exchange Rates… Gold Prices IQD VND Rates—Iraq's two exchange rates affect the country's economic progress. This video shares how and why this is important.

https://www.youtube.com/watch?v=ZX9MbK99cxw

Hidden Crisis: Lynette Zang Reveals The Truth About Fintech And Banking Collapse

The Market Sniper: 7-6-2024

https://www.youtube.com/watch?v=2-ABF1YPWHk

TNT:

Tishwash: Oil and gas law...the unsolvable knot

The oil and gas law is considered one of the sensitive laws in the Iraqi state, as it is one of the axes of the ongoing conflict between the central and regional governments over oil imports.

The center of the dispute over the law is that the region wants to control oil imports in its lands according to its mood without the control of the federal government, while the political forces do not want to grant this privilege to the region because it gives it a kind of separatist independence, so to speak.

Since the first session of the Iraqi Council of Representatives, in 2005, the draft oil and gas law has been stuck in drawers, as disagreements prevent its approval in its final form.

After 18 years, he announced the formation of a committee to draft the law and present it to the government and the House of Representatives.

The committee that was formed between Baghdad and Kurdistan to draft a draft law for oil and gas includes the Minister of Oil, the Minister of Natural Resources in the region, the Director General of SOMO, and the advanced staff in the Ministry of Oil, as well as the oil-producing governorates such as Basra, Dhi Qar, Maysan, and Kirkuk.

Iraq exports an average of 3.3 million barrels of crude oil per day, and black gold constitutes more than 90 percent of the Iraqi treasury's resources.

Article 14 relates to oil revenues in the Kurdistan region and their audit by the Federal Oversight Office

The draft Iraqi oil and gas law regulates this vital sector for Iraq and the management of the country's oil fields through one national company, with imports being deposited in one account.

The financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, confirmed in statements that accelerating the adoption of the federal oil and gas project law in the House of Representatives as quickly as possible will establish a stable national road map for investment and production of the country's primary sovereign resource, which is oil and gas.

He explained that "this natural resource contributes directly to Iraq's gross domestic product at a direct rate of approximately 50 percent, and leaves an indirect impact on the total economic activity of our country at a rate of no less than 85 percent."

Saleh said, "Adopting a unified national oil policy, and achieving optimal investment and production in Iraq's oil region, starting from the southern fields up to the northern and regional fields, is an important and strategic matter in the matter of taking advantage of opportunity costs in the optimal and harmonious operation of Iraqi oil policy currently."

The draft oil and gas law in Iraq available to Parliament stipulates that responsibility for managing the country's oil fields must be entrusted to a national oil company, and supervised by a federal council specialized in this subject.

For its part, the Kurdistan Oil Law indicates that the Iraqi government has the right to participate in the management of fields discovered before 2005, but the fields discovered afterward belong to the regional government.

In 2022, the Federal Court in Baghdad ordered the region to deliver the oil produced on its lands to Baghdad, and to cancel contracts that the region had signed with foreign companies. The matter went so far as to invalidate the Baghdad judiciary's contracts with many foreign companies, especially American and Canadian companies.

After years of exporting oil alone via Turkey, the Kurdistan region must adhere, as of late 2023, to the decision of an international arbitration body that gave Baghdad the right to fully manage Kurdistan's oil.

As a result, exports from the region stopped. A temporary agreement signed between Baghdad and Erbil stipulates that Kurdistan oil sales will be made through the Iraqi Oil Marketing Company “SOMO,” while revenues generated from the region’s fields will be deposited in a bank account with the Central Bank of Iraq or one of the banks approved by the Central Bank of Iraq.

A member of the Parliamentary Oil and Gas Committee, MP Durgham al-Maliki, revealed that the coordination framework and the state administration coalition discussed the oil and gas law with Masoud Barzani.

Al-Maliki told Al-Maalouma Agency, “The committee discussed the draft law in a professional manner and completed most of its paragraphs, but the government requested its withdrawal to make amendments to it, indicating that the law is still in the government's possession.”

He promised, "The approval of the annual budgets was disrupted due to oil disputes between the center and the region, indicating that approving the law has become an urgent necessity because of its ability to resolve 90% of the disputes between the region and the center."

He stressed, "The enactment of the law is governed by political agreement, not professional agreement," calling on "political forces to put pressure on the government to send the law for the purpose of legislating it." link

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CandyKisses: Member: Iraq ranks 61st in the world in the scale of the safest countries

Baghdad - Mawazine News

Iraq ranked 61st in the world out of 100 listed countries and the seventh safest Arab in the world for the current year 2024.

ACCORDING TO A RATING FROM CEOWORLD MAGAZINE.

Seed by Mawazine News, the safest countries by taking into account different dimensions, these dimensions include safety from violent crime, safety from terrorism, safety of transport, health measures (including diseases), and safety for specific groups such as women; foreign travelers, migrants, expatriates, foreign travelers and migrants.

In 2024, Andorra, located in the Pyrenees mountains between Spain and France, was chosen as the safest country in the world, and despite being one of the smallest and least populated countries in Europe, with a population of only about 82,000 people, it attracts more than 3.5 million visitors from abroad annually, making it the country with the largest number of tourists per capita with points with 97.68 points, followed by the UAE with 97.13 points, followed by the Green Land located in the Americas with 96.98 points, followed by Liechtenstein in Europe with 96.97 points.

Of the 188 countries around the world, Iraq ranked 61st globally, with points of about 82 points out of 100 points.

The index put 5 Arab countries in the safest countries category, Iraq came in seventh place after: the UAE, Saudi Arabia, Bahrain, Kuwait, Jordan, Qatar.

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Tishwash: Parliamentary Finance: Oil companies’ dues added to budget tables, government coordination to resume exports