Late Thursday Night "News, Rumors and Opinions" 6-9-2022
KTFA:
Samson: Adviser to Al-Kazemi: The emergency support law will compensate for the budget and move the wheel of the economy
06/08/2022 23:44:24
Mazhar Muhammad Salih, the financial advisor to Prime Minister Mustafa Al-Kazemi, praised the parliament's approval of the emergency support law for food security and development.
Saleh told {Euphrates News}: "The emergency support law is related to national food security, as well as electric power, support for farmers, and Iraq's fuel needs and he indicated that "Iraq's survival on the Financial Management Law {1/12} according to last year's expenditures is not enough
Saleh stressed that "the emergency support law will move the wheel of the economy, and its approval is a very positive matter in supporting the poor classes, as it is considered a compensatory law for the budget law, which prevented the political impasse between its approval
The House of Representatives voted in its session this evening on the proposal of the Emergency Support Law for Food Security and Development, allocating 25 trillion dinars to different pieces, after which it raised its session and entered into a legislative recess for a whole month LINK
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MilitiaMan: It is a compensatory law. It is to compensate the citizens for the entitlements. They have the final accounts now. They can begin to implement the sums to the ministries and governorates when the law takes effect. They did tell us there may be a fix for the GOI within days on the 7th...
There is a meeting with Sadr shortly, where they mention resignation papers.. Or could they be going for celebratory reasons in the coming days? We shall see..
It has been over two weeks the CBI met with the CBE Governor with gifts.. Those gifts if we believe had value, is likely to be what will trigger the compensatory law into action to bring rise to more gifts if you will for the citizens too. imo FWIW, I have a feeling he knows what page we are on.. lol ~ MM
We are so seeing the Monetary Reforms on Steroids. The best is yet to come and imo it is coming without delay now.. And yes all contracts are covered and temporary, in present state.. ~ MM
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Samson: Integrity reveals the embezzlement of nearly a trillion dinars in a number of government banks
9th June, 2022
The Federal Integrity Commission revealed the embezzlement of nearly a trillion dinars of public money, indicating that major embezzlement, forgery, fraud and money laundering had occurred in a number of branches of the Agricultural and Rasheed Bank.
The Integrity Investigations Department confirmed that the audit team, which was formed by the department, revealed a major embezzlement of public money through forgery, misrepresentation, manipulation, money laundering, abuse of positions, manipulation of banking restrictions, and the introduction of fake balance enhancements on customer accounts, indicating the existence of an organized sabotage process through the manipulation of the national economy.
In the work of government banking agencies, creating a state of chaos and instability, stressing the need to address the issue from the highest levels quickly.
The department added that the result of manipulation through transactions in the branch of the Agricultural Bank in Maysan and (4) of the Rashid Bank branches in Maysan and Baghdad amounted to (926,043,773,700) billion dinars, pointing out that the team reviewed and audited the financial statements of the mentioned banks, limited the amount, and obtained evidence. And documents, and the identification of the accused involved, the number of (41) employees of the bank’s branches and customers, companies and individuals.
It observed a great negligence in the work of the General Administration of the Agricultural Bank through the lack of control over the bank’s branch in Maysan; To ensure the integrity of its procedures, which over the course of a whole year were not able to present the data correctly, pointing to the absence of the procedures and work of the supervisory bodies on the activities of the Agricultural Bank branch, despite the presence of more than one case and suspicion of corruption hovering around its work. the final and approving it, giving correct and accurate results to those accounts and their outputs, and receiving profits and incentives; Which calls for her to be held accountable after her as a partner in the crime.
The Nozha Department clarified that the manipulation process is carried out by the customer issuing a check from his current account that does not have a sufficient balance to cover the amount of the check, and the check holder who has a current account depositing the check in his account through a special clearing (phone reservation), indicating that the procedures of the transaction it takes place through the phone reservation and the exchange of the secret numbers that support the availability of a (fictitious) balance in the account of the issuer of the check and allowing the withdrawal of the amount. LINK
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Courtesy of Dinar Guru
Walkingstick [via Frank26] ...These CBI meetings that they have been having with the IMF they showed the 'colors' to the banks...they showed what is called specimens and samples. They showed these 6 denominations to our bank friends in black and white. They did not match the colors to the denominations as they will come out officially. IMO this was due to the combination of Kazemi and Mustafa to keep the security of the new small category notes sealed and tight...the last thing the CBI needs is counterfeit...
Frank26 [Iraq boots-on-the-ground TV report] FIREFLY: It's on the bottom of the ticker on the news that the CBI's willingness to go international. Banking sector will enhance Iraq's economic situation. FRANK: Yeah, but it's going to enhance your monetary for your economic.
Get Your Popcorn Ready! STOCKS DROP ON TOMORROW'S INFLATION REPORT FEARS...
Greg Mannarino: 6-9-2022
Will Raising Interest Rates Slow Down Inflation? | Q&A with Lynette Zang & Eric Griffin
6-8-2022
Question 1: 0:42 Is the market more vulnerable to higher interest rates? Therefore the fed doesn't have to raise very much in order to stop inflation?
Question 2: 6:15 Will a market melt-up occur and what indicators should we look for if you feel a melt- will happen? Are pensions going to collapse?
Question 3: 9:14 Could a shortage of Silver cause us a Black SWAN event?
Question 4: 10:56 Would it be advised to buy junk silver as a means to barter if and when the fiat money collapses?
Question 5: 14:16 You often talk about the SDR becoming the next world reserve currency, but I’m wondering if the SDR is backed by gold or will be backed by gold in the new system?