More News, Rumors and Opinions Sunday PM 6-16-2024
KTFA:
Frank26: "FROM PHOSPHATE TO OIL IRAQ HAS EVERYTHING THE WORLD NEEDS!!!".........F26
The industry opens the door to investment in the Al-Qaim phosphate plant
6/12/2024 Baghdad
Anbar Governor's Advisor for Energy Affairs, Aziz Khalaf Al-Tarmouz, announced today, Wednesday, that the Al-Qaim phosphate plant will soon be transferred for investment after a hiatus that lasted for more than 15 years.
Al-Tarmouz said, "A large number of investment companies have submitted their papers to obtain this investment opportunity."
He added, "It is hoped that the project will be referred to one of the international investment companies within approximately 45 days."
He continued, "The value of the investment contract is about 3 billion dollars, as the plant is considered one of the most important sovereign strategic projects that serve the
economy of Iraq and Anbar."
He explained, "The Ministry closed the tender a week ago, awaiting its referral to the relevant international companies." LINK
Frank26: "SUDANI PROTECTS THE MONETARY REFORM!!!"...........F26
Revealing the embezzlement and waste of 200 million dinars of public money in an Iraqi governorate
6/14/2024
The Federal Integrity Commission revealed, on Friday, that an arrest warrant had been issued against a former official in the Samawah Municipality Directorate. For embezzling nearly two hundred million dinars of public money, in addition to issuing an order to bring in two officials in the directorate.
The Government Information and Communications Office indicated in a statement today that the work team consisting of the staff of the Authority’s investigation office in Muthanna, which moved on (6/12/2024) to the Samawah Municipality Directorate, revealed, after investigation, auditing and review work, the existence of financial violations and cases of embezzlement of money. This year, it was carried out by the former municipal collection official, explaining that he cut off the collection receipts for the real amounts owed by the citizens and collected from them, and tampered with the second copy of the “carbonated” receipt by registering it with amounts that were less than the real amounts actually deducted.
The office continued that the accused was paying the smaller amount to the directorate’s fund. Based on the “carbonated” copies that he tampered with, explaining that the audit work concluded that as a result of tampering with the receipts and distorting the amounts and their dates; In order to overcome the payment delay period, an amount of (198,920,467) one hundred and ninety-eight million dinars of public money was wasted.
He continued that the judge of the Integrity Investigation Court in Muthanna issued an arrest and investigation order against the accused, the former collection official in the Samawah Municipality, in addition to bringing in the accounts, control and internal audit officials there, based on the provisions of Article (315) of the Penal Code. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick These ATM machines have the capability to recognize the lower denoms that are soon to be passed out to the citizens in order to add value to their currency and to go hand in hand with a new exchange rate of the lower notes...These ATM machines have the software for the lower notes. But does it have the lower notes in these ATM machines? It is unknown...Since April there have been thousands of these ATMs being put out...
Nader From The Mid East Article: "Iraq Bulks Up Gold Reserves, Inch Up World Rankings" Quote: "Their holdings have grown to 145.7 tons, a bump of over 3 tons compared to 142.6 tons the previous month. This increase...is enough to nudge Iraq one spot higher in the WGC's global ranking, landing them 31st place out of 100 countries."
BRICS: $517 Billion in Unrealized Losses Hits US Banking System
Geopolitical Analyst: 6-15-2024
While the BRICS alliance is strengthening its banking system, the US seems to be on a downhill.
In the last three years alone, 15 US banks collapsed renewing fears of financial instability across the homeland. Banks such as the Republic First Bank, Citizens Bank, First Republic Bank, Signature Bank, Silicon Valley Bank, and First State Bank, among others, collapsed in the last three years.
The Federal Deposit Insurance Corporation (FDIC) published the latest report that the US banking system is looking at an unrealized loss of $517 billion.
The FDIC also stated that US 63 lenders are currently on the brink of insolvency.
The banks are now saddled with more than half a trillion dollars on the balance sheets in their papers. The development shows that the US banks are at risk while the central banks of BRICS are massively accumulating gold.
While the unrealized losses are only on the balance sheets, they could become a liability when the banks require liquidity.
The number of lenders on its Problem Bank List rose significantly last quarter, reported FDIC. This puts the US banking system under pressure as BRICS is dumping US treasuries and the dollar.
In the last seven months alone, BRICS member China has sold $72 billion worth of US treasuries.
The BRICS alliance is also spearheading the de-dollarization movement by convincing developing countries to end reliance on the dollar.
The number of banks on the Problem Bank List, those with a CAMELS composite rating of ‘4’ or ‘5’ increased from 52 in fourth quarter 2023 to 63 in first quarter 2024.
The number of problem banks represented 1.4% of total banks, which was within the normal range for non-crisis periods of 1% to 2% of all banks.
Total assets held by problem banks increased $15.8 billion to $82.1 billion during the quarter,” read the FDIC report.