News, Rumors and Humor Sunday Night 1-31-2021

KTFA:

MilitiaMan:  The main power players in the world are all supporting the Economic Reforms for Iraq. Plain and simple. The USA and the UK have the lions share of Dinar outside of Iraq.

Boats all rise with the tide. Think about all that are coming in. Their boats will rise too!!

This is the best place I have ever seen to date as we see now.

They have the UST, HMQ, EMU, G7, IMF, AMF, WB, etc.. all in support now!! Get ready.. Change is coming.. imo ! ~ MM

Samson:  Al-Yasiri : The Central Bank's initiatives have contributed to employing the unemployed and moving stalled projects

31st January, 2021

The Director General of the Accounting Department at the Central Bank of Iraq, Ihsan Al-Yasiri, said on Sunday that the initiatives of the Central Bank of Iraq in recent years have contributed to employing the unemployed and restoring life to the stalled projects

Al-Yasiri added in an interview with "Al-Eqtisad News", that "after the economic and security crises that Iraq witnessed during the previous years, the Central Bank was involved in the comprehensive development process

He added, "The state was unable to provide financial resources during those years, but the Central Bank launched the 5 trillion dinars initiative for specialized government banks and the 1 trillion initiative for private banks. He stressed that "this initiative contributed to employing the unemployed and moving projects that have been stalled for years

He continued, "The Central Bank, with all its strategies, does not focus only on developing its human resources, but rather on developing human resources in all institutions. He pointed out that "the aim of changing the exchange rates is to support the Iraqi product in competition with imported products

He explained that "some sectors will respond immediately to this change, such as the agricultural sector, the construction sector, and the light industries sector," noting that "as a result, the central bank’s strategy to enter with wishful thinking has begun and will not end as it will remain supportive and supportive of the banking sector and other economic sectors   LINK

ATPInfiniy:  IS THIS A CENTRAL BANK SIGNAL FOR SOMETHING WE ARE LOOKING FOR?

The Central Bank, with all its strategies, does not focus only on developing its human resources, but rather on developing human resources in all institutions. He pointed out that "the aim of changing the exchange rates is to support the Iraqi product in competition with imported products

He explained that "some sectors will respond immediately to this change????....
IMO………A RATE CHANGE

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The arrest of an official and government employees in the oil sector on charges of embezzlement in Wasit

31st January, 2021
On Sunday, a security source said that an official in the oil sector and a number of employees had been arrested in Wasit governorate on charges of embezzlement.

The source said, to Shafaq News Agency, that "a force of integrity has arrested the director of petroleum products in Wasit, Shakir Jawad Kadhim, along with a number of the department's employees."

The source explained, "The arrest took place according to an official warrant, on charges of very large financial embezzlement."   LINK

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Courtesy of Dinar Guru

Kaperoni  The Buna payment system which is part of the Arab Monetary Fund announced a few months ago that the Iraqi dinar would be joining the program. Today, they announced a relationship with JP Morgan Bank for settlements in US dollars. This is significant news.

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Fleming Sunday RV Update:

Fleming:  Our military intel contact said Mr Fleming’s sources match his info that today Sun 31 Jan is Freedom Day, that some contacts received confirmations of people they know being called by the bank and informed access to funds is Monday 1 Feb, while T4B notifications are anticipated between now & Tue 2 Feb; so he said stay ready next 48 hours; he said his info matches the following from one source:

TNT:

Carter:  Good evening everyone, where are we tonight? Still looking for this to happen tomorrow or what?

Alf:  carter we're all hoping for tomorrow so this is finally over!

KaseyKo:  Jabouri is saying the budget will be voted on & passed by end of this week; another parliament member stated the budget should be voted on & passed by Monday. "Time will tell," as Ray says.

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Ms Devine:  15 Steps To NEVER BE POOR Again

https://youtu.be/HbQTvpq93Vg?t=2

Humor while we wait

Saturday Night Live Women’s Nike Ad

https://youtu.be/sU55auqDD28?t=

"Is This The End of Fiat Currency? The Top 11 Reasons Short Silver Squeeze is Possible

The Atlantis Report

Top 11 Reasons The Short Silver Squeeze Is Very Possible

Jan 30, 2021

Top 11 Reasons The Short Silver Squeeze Is Very Possible

The GameStop, and the Silver squeeze is a paradigm shift that has rattled Wall Street to its very core. Millions and millions of small investors attacking stock after stock, breaking every greedy hedge fund there is! I'm certain this is Wall Streets' worst fear right now!

There's just no way to stop the millions of ants devouring everything that gets in their way! Just imagine millions of pissed of people SHORTING Facebook, Amazon, Twitter, and other politically activist tech companies.

The Reddit WALLSTREETBETS triggered a run on silver, investors bought 28.3% of last year's ETF total in 1 day. Meanwhile, the Market manipulators are the ones calling it market manipulation. Is that Not Ironic!

When Wall Street wins, no problem. When Wall Street loses, suddenly we need more regulation. Only because they have lost control to manipulate!! Rules for thee; not for me.

When a big firm blows out, there should be NO BAILOUT. If the Millenials can squeeze silver, it's the end of fake Fiat currency.

Those crooks changed our real money in 1971 to this fake fiat currency. We the people, are waking up to the corruption in a system that is tainted, broken, and controlled by unethical people.

 If we all bought physical gold and silver and demanded delivery on the paper contracts we could bring this great Ponzi experiment called the markets to their knees.

 There is so much fake paper they couldn’t even cover 10% of it. It would ruin them all.

 Wait until we all buy physical silver. Let the games start. Silver bullet into the heart of the banksters. WE THE PEOPLE.

On the first day since the Reddit WallstreetBets group started targeting the short position in the silver market, the amount of metal added to SLV was 14.7% of the entire investment supply from last year!

It’s a stunning development, as at that rate, these investors would take the entire amount of silver that went to investment last year, in just 7 trading days!

SLV added 37 million ounces on Friday (according to their data) ! With short squeezes going on in the stock market, that have now spread to the silver market, the first reports are in. And the SLV trust is reporting that 37 million ounces were added in just one single day on Friday! !

Keep in mind that there are other silver trusts that likely added metal as well, and it seems like the Reddit WallStreetBets crowd certainly made an impact yesterday!

For the full transcript go to https://financearmageddon.blogspot.com

https://youtu.be/eugQCTdxjYk?t=4

MilitiaMan "News is Off The Charts Good!" Sunday 1-31-2021

KTFA:

Parliamentary Finance expects: Approval of the 2021 budget within the next two days 

Member of the Parliamentary Finance Committee, Thamer Theban, expected, on Sunday, the passage of the draft federal budget law for 2021 within the next two days, while noting that the allocations of the center and the south will be among the allocations for the development of the regions. LINK

MilitiaMan:  I cannot imagine, them not passing this week for a vote. They know there is to much at stake now. There is apparently no going back now.. Way to much has been accomplished.. imo ~ MM

Samson:  Al-Yasiri : The Central Bank's initiatives have contributed to employing the unemployed and moving stalled projects

31st January, 2021

The Director General of the Accounting Department at the Central Bank of Iraq, Ihsan Al-Yasiri, said on Sunday that the initiatives of the Central Bank of Iraq in recent years have contributed to employing the unemployed and restoring life to the stalled projects

Al-Yasiri added in an interview with "Al-Eqtisad News", that "after the economic and security crises that Iraq witnessed during the previous years, the Central Bank was involved in the comprehensive development process

He added, "The state was unable to provide financial resources during those years, but the Central Bank launched the 5 trillion dinars initiative for specialized government banks and the 1 trillion initiative for private banks. He stressed that "this initiative contributed to employing the unemployed and moving projects that have been stalled for years

He continued, "The Central Bank, with all its strategies, does not focus only on developing its human resources, but rather on developing human resources in all institutions. He pointed out that "the aim of changing the exchange rates is to support the Iraqi product in competition with imported products

He explained that "some sectors will respond immediately to this change, such as the agricultural sector, the construction sector, and the light industries sector," noting that "as a result, the central bank’s strategy to enter with wishful thinking has begun and will not end as it will remain supportive and supportive of the banking sector and other economic sectors  LINK

MilititMan:  I would have to agree that the response will be immediately. They change the exchange rate and the markets respond in like kind. And in a big way. Contracts will require it!!! imo.. The news is off the charts good the way they are talking today and yesterday. Comprehensive development process have been on going and we are now finally see the fruit of it all! imo ~ MM

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Samson:  Advisor to the Prime Minister: Creating new electronic payment cards that will enhance the advancement of services provided to citizens
31st January 2021

The financial advisor to the Prime Minister, Dr. The appearance of Muhammad Saleh, on Sunday, that the multiplicity of electronic payment companies and the introduction of new cards in the Iraqi market is achieving competition leading to the advancement of the services provided to the citizen

In an interview followed by Al-Eqtisad News, Saleh said that the creation of new electronic payment cards will contribute to creating competition that leads to the advancement of electronic services, especially when the electronic or digital payment card carries competitive advantages, such as the discount on goods and services from the national product when used in the settlement. Payments

Saleh indicated that by doing so, it will be a tool to spread competition within the national economy, and thus the electronic payment card and its use will be very practical in paying public service bills and raising the efficiency of revenue collection, as long as there are encouraging incentives when paying with the digital card, until the digital environment is fully integrated

In addition, the International Network for Cards for Electronic Payment Services Ltd. announced the (neo) application available in the (Apple Store) or (Google Play) store, through which it is possible to create an account with an electronic wallet, without the need to visit the company's headquarters or wait for long hours, and issue a card A digital visa that you can use for all your online purchases, or visit an authorized dealer to buy a gift card or request a travel card

The managing director of the company, Zaid Fawzi, affirmed that "our vision is that money must become digital and all citizens are dealt with electronic payment, especially under the circumstances of the Corona pandemic and after it, as we continue to provide the most secure, quality and easy visa cards for the Iraqi citizen, which meet all his needs with various different needs The methods of use in terms of the various features of our products

Fawzi indicated that the registration process in the application is according to the instructions of the Central Bank, and through the smart application, you can follow all your financial movements easily and safely. He pointed out that "the application provides an electronic wallet with a financial ceiling of up to 50 thousand dollars annually, and the citizen can easily charge it by visiting agents spread throughout Iraq, and create your digital card directly from the application and use it by purchasing from websites that support visa payment, promotion on social media sites and with the recharge feature." When needed, as soon as there is an amount of money in your electronic wallet

The plastic gift card product is distinguished by its availability at agents and in various categories, once you buy it closed from the agent, you can activate it in seconds in the application and directly use it online, ATMs and POS points of sale in three ways ((Chip- Swipe-Contactless) locally and internationally, and it is not refillable

As for the "plastic" travel card, any citizen can request it by visiting any authorized agent and receive it within an ideal period of time not exceeding two days as a maximum, with a financial ceiling of $ 10,000 and can be recharged immediately from the wallet. It is used with POS devices in three ways ((Chip- Swipe-Contactless and Automated Teller Machine (ATM) locally and internationally

It is noteworthy that the company, the International Network of Cards for electronic payment services, started work in 2019 with a license to do electronic payment work No. (7) from the Central Bank of Iraq and based on Law No. (56) of (2004) and it works with a cadre Iraqi youth is proud to provide the best services in the field of electronic payment to citizens.  LINK

MilitiaMan:  DIGITAL MONEY !!! I seriously like to hear this. They told us about this.. It is and was part of the plan of a level playing field. Get ready to be cashless than before. They told us there would be a smaller amount of currency in circulation. Well when they adjsut the exchange rate accordingly they will need less cash. As it will be worth more.. lol ~ imo  ~ MM

Samson:  Sairoun: Raising Or Lowering The Exchange Rate Of The Currency Is The Exclusive Authority Of The Government

31st January, 2021

Member of Parliament for the Saeron Alliance, Riad Al-Masoudi, affirmed that "raising or lowering the currency exchange rate is the exclusive authority of the government in accordance with the law and the constitution."

Al-Masoudi said in a press statement by the Independent: “Articles 78 and 80 are clear about the government's authority to manage the country, economic planning and financial policy, which are all exclusive to the executive authority.” He added, "The raising or lowering of the currency rate is an exclusive prerogative and part of the government's measures to reform the economy."

Al-Masoudi explained: “The role of the House of Representatives is legislative, supervisory, and representative exclusively in accordance with Article 68 and its constitutional paragraphs.” He pointed out: “The parliament’s role is in relation to collecting signatures, either issuing representative orders to form committees or issuing decisions on a specific issue, which are not binding and give the representative opinion of Parliament.”

It is noteworthy that the parliamentary signatures exceeded 100 signatures requesting the government to reconsider reducing the price of the local currency against foreign currencies.   LINK

MilitiaMan:  The reducing the price of the local currency is not going to happen again. 1182 Didn't work 1190 didn't work nor will 1460 if left with out deleting the zeros from the exchange rate. imo ~ MM

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Samson:  Ammar Al-Hakim Discusses With The Ambassadors Of South Korea And Japan Political Developments Regionally And Internationally  LINK

MilitiaMan:  Like I said, look at all who are lining up for the private sector. Internationalism all day long now coming in.. Perfect and timed for the end game.. imo. ~ MM

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Samson:  A senior Gulf official visits Iraq  LINK

MilitiaMan:  Man the line up is amazing to watch of late. They are all ready and willing to support the reforms out of Iraq. What I see from the amount of entities, showing up is showing us regional and international acceptance and effectively reconciliation!~ imo ~ MM

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Samson:  Kuwait postpones debts on Iraq to next year  LINK

MilitiaMan:  More support that there is a regional reconciliation going on. Perfect timing. Suppor them while knowing that the 30 billion in wings to reconstruct the country is to pay off by far more than the 2.5 billion still owed.. Wow! imo ~ MM

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Samson:  Deputy: the governor of the central bank outside the questioning and the budget within the bargaining

15:38 - 01/31/2021
The coalition of Iraqis confirmed, on Sunday, that the coming sessions will not witness the questioning of the Governor of the Central Bank of Iraq, attributing the matter to Parliament's preoccupation with the budget and through it to enter the line of negotiations and bargaining between the blocs.

The deputy of the coalition, Jasim Mohan, said to / the information / that "breaking the quorum and postponing the session during the interrogation of the governor of the Central Bank was not a coincidence and here is the coldness of dealing with the questioning by the Presidency."

He added that "the coming sessions will not witness the questioning of the governor," noting that "the budget will enter the line and the parliament will be busy with it and its long struggles."

Mohan said, "Through the differences on the points of balance between the blocs, the subject of the governor will enter and the agreements and deals on them will begin with a file in exchange for a file."

INK

MilitiaMan:  I'll bet that the budget will enter the line in parliament.. It will be busy with the exchange rate and how to allocate the money.. lol imo Why question CBI Governor about the 1460 devaluation when it can easily become in line with the dollar peg ($1.46) once they drop 3 zeros and the expression may be used as in the SDR basket like that similar to the AMF, etc.... imo  ~ MM

Samson:  Tomorrow ... a new Kurdish delegation will visit Baghdad in a last attempt before the budget is passed

14:15 - 01/30/2021
MP for the Patriotic Union of Kurdistan, Taha Amin, confirmed on Saturday that the Kurdistan Regional Government delegation will return to the capital, Baghdad, tomorrow, Sunday.

Amin said in a statement to Al-Maalouma, that “a Kurdish delegation headed by the Deputy Prime Minister of the Kurdistan Regional Government, Qubad Talabani, and the membership of both the Finance Ministers, Awat Sheikh Janab, and Planning Dara Rashid and the region, Khaled Shawani, and other officials will visit Baghdad tomorrow, Sunday, in a final round before presenting the budget to Voting in Parliament”.

He added that "the visit aims to stabilize the region's share in the budget and to agree on mechanisms to deliver the agreed quantity of oil, which is 250 thousand barrels of oil, and will it be delivered in cash or a quantity to SOMO."

Amin pointed out that "we hope that there will be a response to the last visit, because the one who is most affected by the failure to reach an agreement will be the Kurdish people."   LINK

MilitiaMan:  This is a very timely meeting we are witnessing beginning again a new. Mechanisms to deliver Cash or Quantity are on the table.. The Kurds have their people in mind, coming home with out the spoils will not look good. This is not the only timely visit we are going to see and or have been seeing by very large entities.. imo ~ MM

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Samson:  Erbil enters "last-minute" negotiations with Baghdad on the budget

12:46 - 01/31/2021
Member of the Parliamentary Finance Committee, Jamal Cougar, confirmed, on Sunday, that the Vice President of the Kurdistan Regional Government, Qubad Talabani, will arrive in the capital, Baghdad, today at noon, to conduct a final round of negotiations with Baghdad on the budget, indicating that in the event that no agreement is reached, the deputies of the region will boycott the session Vote.

Cougar said in a statement to "the information", that "the vice president of the Kurdistan region, Qubad Talabani, will arrive this afternoon in Baghdad to enter into further negotiations with Baghdad in order to reach a solution that satisfies both parties." He added that "the negotiations that Talabani will conduct are the last round, and in the event that no agreement is reached, the deputies of the region will boycott the voting session and the crisis between Baghdad and the region will remain."

It is noteworthy that the region agreed to deliver 250 thousand barrels of Kurdistan’s oil to the government set forth in Articles 11 and 10 of the budget and related to the region’s share, but Baghdad will not respond and insist that the region hand over all of its oil and half of its other revenues. LINK

MilitiaMan:  I suspect this final round is about to be game over.. Don't forget they front ran Baghdad in respect to Taxation. They were not against it. Why? We know why.. They know what we all know.. Exchange rate is going to change in early 2021 again. Private Sector will require it. Article 8 compliance will require it. The WTO will require it, the list goes on.. imo. ~ MM

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Samson:  The Sairon Alliance stresses the need for a "Kurdish conviction" to pass the 2021 budget

30th January, 2021

The Saeron Alliance, supported by the leader of the Sadrist movement, Muqtada al-Sadr, suspended today, Saturday, the fact that there is a parliamentary and political approach to pass the 2021 budget bill without the approval of the Kurdish political forces.

The leader in the coalition, MP Riad Al-Masoudi, told Shafaq News, "The current indications are that the 2021 budget bill will be passed with the approval and support of the Kurdish political forces," stressing the need for a Kurdish conviction about what was mentioned in the budget, and they are aware of the need to vote on the budget in a manner Fast, and they don't want to delay it.

Al-Masoudi indicated that "all political forces, including the Kurdish, will engage in decisive meetings during the next two days in order to finally agree on passing the budget during the current week, after the financial committee has fully completed the project, and it has not remained until consensus and political agreement on it."  LINK

MilitiaMan:  Even Sadr is in support of the Kurds getting this done fast. Me too. lol imo Again the Kurds have the people in mind. ~ MM

Samson:  The Finance Committee reveals the date for the completion of the 2021 budget

30th January, 2021

A member of the Parliamentary Finance Committee, Jamal Cougar, expected, on Saturday, to complete the 2021 budget project in the middle of this week, and then put it to a vote in the House of Representatives

Cougar said in a special statement to NRT Arabia, today (January 30, 2021), that "the Finance Committee has so far reached Article 37 of the 2021 Budget Bill, and it will be fully completed on Tuesday and presented to the political forces to take final opinions

Cougar expected the project to be put to a vote before the House of Representatives at the end of this week or during the next week

Regarding the paragraph on employee salary deductions, a member of the Finance Committee pointed out that "the government deductions are completely rejected and two proposals were put forward in place of it. The first is the application of Income Tax Law No. 113 on all employees and salaried persons and includes the total salary, and another proposal to apply this law with the exception of minimum or fragile salaries," Deductions used to start from the salary of an employee who receives more than a million dinars a month   LINK

MilitiaMan:  End of this week was yesterday 01/30/2021, early next week starts today 01/31/2021.. imo.. ~ MM

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Samson:  A member of Parliamentary Finance confirms that discussion of about 40 articles of the draft budget law has ended

31st January, 2021

A member of the Parliamentary Finance Committee, Representative Shirwan Mirza, confirmed, on Sunday, that the committee has finished discussing about 40 articles of the draft budget law

Mirza said in a press interview, that the committee will discuss during today's meeting, amending the articles and paragraphs of the budget bill and preparing them for voting by the House of Representatives, indicating that the Finance Committee has finished discussing about 40 articles of the draft law

He noted that the draft budget law will be ready for a vote in the House of Representatives during the current week  LINK

MilitiaMan:  They sure like to keep us on our toes.. lol During the current week started today.. lol  imo ~ MM

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Don961:  New text in the draft federal budget in Iraq to establish a special petrodollar fund

January 31, 2021 12:45 AM

Mubasher: The Financial Committee in the Iraqi Parliament announced today, Saturday, the addition of a new text in the draft federal budget law for 2021. 

The Media Department of the House of Representatives stated in a statement carried by the Iraqi News Agency (INA), that "the Finance Committee added a text in the draft Federal Budget Law for 2021, which includes the establishment of a special petrodollar fund for oil and gas producing provinces to implement projects and provide services." 

Today, Saturday, Parliament Speaker Muhammad al-Halbousi chaired a meeting of the Parliamentary Finance Committee, to discuss the draft federal budget bill for the fiscal year 2021.   LINK

MilitiaMan:  Interesting they have a Petro Dollar text in the BL for 2021. I'll bet it has to do with the likes of Hughes Baker, etc.. They know the money is about to flow from investment and will need to have the mechanism in place to extract their share of profits.. Right fully so. Once again in favor of the people too. imo !~ MM

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Don961:  Al-Jubouri to the World Bank Mission: Many reform measures were included in the budget

Posted 8 hours agoNews source / Mawazine News
12:03 - 01/31/2021

Baghdad - Mawazine News,
Chairman of the Parliamentary Finance Committee, Haitham Al-Jubouri, discussed with the representative of the World Bank delegation in Iraq, Ramzi Numan, the draft budget bill for 2021.

A statement stated, “Chairman of the Finance Committee, MP Haitham Al-Jubouri, received the representative of the World Bank mission in Iraq, Ramzi Numan Draft Federal Budget Law for 2021 ”.

He added, “The meeting discussed the great challenges facing the Finance Committee, during its discussions of the draft budget in light of an unstable economic and financial situation, whether in Iraq or the world, imposed by the Corona pandemic.

Al-Jubouri stressed, according to the statement, that “the Finance Committee had a major challenge in the budget represented in the huge deficit and tremendous growth in expenditures without actual reform measures,” indicating that “the committee included a lot of reform measures and rearranging the budget formulation with an economic outlook that reduces pressure on Oil revenues by supporting non-oil resources such as border crossings, collection and private sector support to stimulate the Iraqi economy.

For his part, Numan said: “The World Bank supports the reform process to revive the Iraqi economy and solve its structural problems,” stressing at the same time that the bank had restored to support investment and development projects in Iraq.

In another context, Speaker of Parliament Muhammad al-Halbousi chaired the thirty-fifth meeting of the Parliamentary Finance Committee, in which it continued its discussions on the draft federal budget bill for 2021.

A statement by the Media Department in the House of Representatives stated that the Speaker appreciated the efforts of the Finance Committee in its discussions to balance the current year and bear the burdens of the confusing financial and economic situation in the country.

He added, "Al-Halbousi presented a set of proposals and ideas that could be included in the draft law that would contribute to the development of the agricultural sector, such as obligating the government to pay farmers' dues and supporting this important segment in the country, and supporting the industrial sector and the private sector to create opportunities for unemployed youth."

The statement indicated that "the Finance Committee included a text in the budget that includes the establishment of a special fund for petrodollars for the provinces producing oil and gas to implement important projects and provide services at the level of all sectors."

He continued, "The meeting discussed supporting the liberated governorates and providing adequate allocations to the fund for their reconstruction, as well as the need to support the stabilization program to enable the displaced to return to their homes voluntarily." Ended 29 / A 87  LINK  

MilitiaMan:  So the World Bank has restored their support for investment development projects. Well aint that special.. They are not the only ones either, as we will see I am sure throughout this thread. lol imo ~ MM

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Samson:  Monetary Policy and Fiscal Policy: An Overview  LINK

MilitiaMan:  Talking Monetary Policy and Fiscal Policy in respect to the CBI and the UST.. Like I said earlier, there are more than just the Kurds in the news and the 2021 Budget.. They are clearly telling us they are pegging to the Dollar, like was said when they devalued to 1460. The IMF above is mentioned that the USD is a Fundamental Pillar. They also mention that the CBI is the one that manages and issues the currency. Talks about the management ove money in circulation.. Nice!!  They even mention that they have respectable reserves. Which supports them heading into the new market economy and or private sector. This is again timely and shows there are more involved and intertwined. All very good!... ~ Imo. ~ MM 

Post #40 has this too. ~ MM 

" human resources, but rather on developing human resources in all institutions. He pointed out that "the aim of changing the exchange rates is to support the Iraqi product in competition with imported products" "

He explained that "some sectors will respond immediately to this change, such as the agricultural sector, the construction sector, and the light industries sector," noting that "as a result, the central bank’s strategy to enter with wishful thinking has begun and will not end as it will remain supportive and supportive of the banking sector and other economic sectors

Iraqi News Sunday AM 1-31-21

Iraqi News Sunday AM 1-31-21

TLM724 Administrator BondLady’s Corner

An Economist Explains How To Reduce The Dollar’s ​​Exchange Rate

Time: 01/31/2021 11:51:52 Read: 7,592 times  {Baghdad: Al Furat News} Economic expert Basem Jamil Antoine explained the way to reduce the exchange rate of the dollar against the Iraqi dinar, indicating that there must be a plan and study and not to go with "moody".

Antoine said in an interview with the Euphrates News Agency, "I was the first to demand an increase in the value of the dollar and a reduction in the Iraqi dinar by a lower rate than the current one, indicating that instead of being 23.5%, I demanded 10% so that there is no major shock to the citizen, which leads to negative repercussions. On the market. "

He continued: "After we lowered 10% of the value of the dinar and anticipated the price of a barrel of oil, it began to rise over a period of six months, we noticed that with the recovery from Corona cases, the global economy began to increase demand for oil and the price of oil began to rise from the forties to above fifty."

He added that "the high price of a barrel of oil provides the government with great potentials. Every dollar that rises against the dinar leads to a reduction in the budget deficit of one trillion dinars."

The economic expert pointed out that "the House of Representatives has many statements and they do not have one voice or opinion, and the government as well," pointing out that "it is supposed to collect 113 signatures for the House of Representatives to reduce the value of the dollar to 1300."

Antoine added, "There must be a study based on raising the price or reducing the price, as the issue is not" moody ".

The expert Antoine expects that "the price will stabilize as it is now and will not be reduced in the future."  LINK

https://alforatnews.com/news/%D8%AE%D8%A8%D9%8A%D8%B1-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A-%D9%8A%D9%88%D8%B6%D8%AD-%D8%B7%D8%B1%D9%8A%D9%82%D8%A9-%D8%AE%D9%81%D8%B6-%D8%B3%D8%B9%D8%B1-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1

Head Of A Parliamentary Bloc: The Central Bank Deviated From Its Objectives And Caused The Deterioration Of The Iraqi Dinar

17:38 - 01/31/2021  Information / Special ...On Sunday, the head of the Irada Hussein Arab bloc criticized the policy of the Central Bank of Iraq, describing it as "floundering."

Arabs said in a statement to / Al-Maalouma / that “the central bank’s policy towards the monetary currency has floundered, causing the deterioration of the Iraqi dinar against the dollar.”

He added that "the Central Bank did not develop the correct solutions to deal with the auction of selling the currency and the dollar exchange rate."

He pointed out that "the floundering policy of the central bank has greatly affected the movement of the difficult and difficult currency wheel and how to invest it in the right way instead of storing it in homes."

He pointed out that "the central bank deviated from its goals in wasting hard currency and how to preserve it, as well as the deterioration of the Iraqi currency against the dollar."

Earlier, the Parliamentary Planning Committee accused Central Bank Governor Mustafa Ghalib of causing negligence and damaging public money. Ended 25 h    https://www.almaalomah.com/2021/01/31/518233/

The Iraqi Parliament ... Governor Of The Central Bank Outside The Interrogation And The Budget Within The Bargaining!

Political   Sunday 31 January 2021 Views: 69  The coalition of Iraqis confirmed, on Sunday, that the coming sessions will not witness the questioning of the Governor of the Central Bank of Iraq, attributing the matter to Parliament's preoccupation with the budget and through it to enter the line of negotiations and bargaining between the blocs .

"Breaking the quorum and postponing the meeting during the interrogation of the central bank governor was not a coincidence, and here is the coldness of dealing with the interrogation by the Presidency, " said coalition MP Jassem Mohan .

He added that "the coming sessions will not witness the questioning of the governor," noting that "the budget will enter the line and the parliament will be busy with it and its long struggles ."

Mohan said, "Through the differences on the points of balance between the blocks, the subject of the governor will enter and agreements and deals will begin with a file against a file."

https://aynaliraqnews.com/index.php?aa=news&id22=143203

Trade: Cash In Lieu Of Retroactive Ration

Sunday 31st January 2021  483  Baghdad: Shatha Al-Janabi   The ration card file still faces major obstacles and criticism due to poor processing of vocabulary despite its scarcity and the lack of specific times for providing it by agents, especially in light of the living reality and the difficult economic situation and what the price of the dollar against the dinar imposed on the market from the high prices of goods and commodities.

The Ministry of Commerce justifies this matter due to the lack of budget allocations and the delay in approving and disbursing them to contract with companies in order to provide card materials for those covered by fixed timetables, while the Ministry of Commerce intends to address the competent authorities to consider the possibility of compensating citizens for shares that were not previously distributed.

A number of citizens confirmed to “Al-Sabah”, “they have not received any of the items of the ration card for more than two months, except for flour, with the presence of many weak souls of agents or brokers who carry out a disinformation campaign aimed at preventing citizens from receiving these items and thus selling them to Dealers at very low prices that do not live up to the real prices at which they are sold in the market.

While a number of agents respond that "the agent did not intend to delay the distribution of ration items, because the delivery of materials is done in the form of intermittent payments by the Ministry of Trade."

They pointed out that "the accusations directed against the agents regarding selling the card materials to the market merchants in small amounts are rejected and incorrect."

Trade Minister Alaa al-Jubouri pledged, during recent press statements he made, to supply the ration card items for citizens during the current year to provide money in the first months of the year so that contracts with companies can be made to prepare the ration share and distribute it among the recipients according to the specified timelines.

He attributed the delay in providing them during the past year 2020 to the lack of allocations and their intermittent disbursement due to the drop in oil prices and the outbreak of the Corona epidemic. On the subject of this year’s allocations, the ministry’s official spokesman, Muhammad Hanoun, told Al-Sabah: “The ministry called in a number of meetings on the budget strategy to increase the proposed allocations for the ration card in order to maintain market prices and prevent inflation.”

He added that "the ministry will address the competent authorities to consider the possibility of compensating citizens for the shares that were not previously distributed."

He pointed out that "the amount funded to the ministry is not sufficient to equip all shares with one basket, as a result of not providing adequate allocations, as they are disbursed at a rate of 1/12, and what is released is only sufficient to secure one item."

During the last period, the ration card materials were withheld from those with high incomes, repetitive, illusory and deceased persons, in an effort to direct the rations to the beneficiaries and increase the vocabulary.

The government recently formed a ministerial committee headed by the Minister of Labor and by a decision of the Ministerial Council for the Economy, to reform the ration card and ensure that its components reach those with low incomes and families who are below the poverty line, through the establishment of this issue.

As for the member of the Parliamentary Services and Reconstruction Committee, Abbas Yaber, he explained to Al-Sabah that “it has been confirmed by a large number of deputies to allocate sufficient funds in the 2021 budget to provide the ration card materials due to the effects of the high price of the dollar in the local market.”

And that "the committee demanded to compensate the citizens with monetary amounts for the items of ration that are not distributed and retroactively," noting "the importance of supporting those covered by social protection and equipping them with the prescribed rations."

Yaber acknowledged the “failure” of the Ministry of Trade to supply the ration card for citizens for several months, expressing his hope “to develop a policy to distribute items to all families at a fixed time per month in order to stabilize the market.”   LINK

Mr. Ammar Al-Hakim Confirms The Possibility Of Iraq Turning Into A Success Story, Like Japan And Korea

Time: 01/31/2021 13:25:39 Read: 2,067 times  {Baghdad: Al Furat News} The head of the Iraqi coalition, Mr. Ammar Al-Hakim, affirmed that Iraq could turn into a "success story", such as the rise of Japan and South Korea after World War II.

A statement of his office, a copy of which was received by Al Furat News Agency, stated that Mr. Ammar Al-Hakim "received in his office this morning the Japanese and South Korean ambassadors in Baghdad (Suzuki Kotar) and (Jang Kyung Wook) separately, and they exchanged views on political developments in the region and the world and the form of the relationship The assumption is between Tokyo and Seoul on the one hand, and Baghdad on the other. "

He praised "the Japanese and Korean experience as two success stories," noting that "the feature of the two experiences is reliance on self-potential and reliance on Japanese and Korean abilities and skills."

Mr. Ammar al-Hakim stressed that "Iraq could turn into another success story if it relied on its human potential and resources, and we also said that the relationship between Baghdad, Tokyo and Seoul must witness a great development in the field of exchanging experiences and investing the promising opportunities that Iraq offers in the field of development and investment."

"Calling to" Mr. Ammar al-Hakim discussed with the two ambassadors "developments in the region, and visions agreed on the importance of dialogue, stopping the state of conflict, the need for calm, and the search for common interests and starting from them."

He said, "Iraq is accumulating its democratic experience and approaching the entitlement of early elections," indicating "the nature of the transient alliance that we call for as a solution to the Iraqi crisis and a strategic change in its political system."  LINK

Advisor To The Prime Minister: Creating New Electronic Payment Cards That Will Enhance The Advancement Of Services Provided To Citizens

Banks  Economy News _ Baghdad The financial advisor to the Prime Minister, Dr. The appearance of Muhammad Saleh, on Sunday, that the multiplicity of electronic payment companies and the introduction of new cards in the Iraqi market is achieving competition that leads to the advancement of the services provided to the citizen.

In an interview followed by Al-Eqtisad News, Saleh said that the creation of new electronic payment cards will contribute to creating competition that leads to the advancement of electronic services, especially when the electronic or digital payment card carries competitive advantages, such as the discount on goods and services from the national product when used in the settlement. Payments.

Saleh indicated that by doing so, it will be a tool to spread competition within the national economy, and thus the electronic payment card and its use will be very practical in paying public service bills and raising the efficiency of revenue collection, as long as there are encouraging incentives when paying with the digital card, until the digital environment is fully integrated.

In addition, the International Network for Cards for Electronic Payment Services Ltd. announced the (neo) application available in the (Apple Store) or (Google Play) store, through which it is possible to create an account with an electronic wallet, without the need to visit the company's headquarters or wait for long hours, and issue a card A digital visa that you can use for all your online purchases, or visit an authorized dealer to purchase a gift card or request a travel card.

The managing director of the company, Zaid Fawzi, affirmed that "our vision is that money must become digital and all citizens are dealt with electronic payment, especially under the circumstances of the Corona pandemic and after it, as we continue to provide the most secure, quality and easy visa cards for the Iraqi citizen, which meet all his needs with various different needs." The methods of use in terms of the various features of our products.

Fawzi pointed out that the registration process in the application is according to the instructions of the Central Bank, and through the smart application, you can follow all your financial movements easily and safely.

He pointed out that "the application provides an electronic wallet with a financial ceiling of up to 50 thousand dollars annually, and the citizen can easily charge it by visiting agents spread throughout Iraq, and create your digital card directly from the application and use it by purchasing from websites that support visa payment, promotion on social media sites and with the recharge feature." When needed, as soon as there is money in your electronic wallet.

The plastic gift card product is distinguished by its availability at agents and in various categories, once you buy it closed from the agent, you can activate it in seconds in the application and directly use it online, ATMs and POS points of sale in three ways ((Chip- Swipe-Contactless) locally and internationally, and it is not refillable.

As for the "plastic" travel card, any citizen can request it by visiting any authorized agent and receive it within an ideal period of time not exceeding two days as a maximum, with a financial ceiling of $ 10,000 and can be recharged immediately from the wallet. It is used with POS devices in three ways ((Chip- Swipe-Contactless and Automated Teller Machine (ATM) locally and internationally

It is noteworthy that the company, the International Network of Cards for Electronic Payment Services, started work in 2019 with a license to do electronic payment work No. (7) from the Central Bank of Iraq and based on Law No. (56) of (2004) and it works with a cadre Iraqi youth is proud to provide the best services in the field of electronic payment to citizens.

Number of observations 151 Date of addendum 01/31/2021   https://economy-news.net/content.php?id=23888

Al-Yasiri To "Al-Eqtisad News": The Central Bank's Initiatives Contributed To Employing The Unemployed And Moving Stalled Projects

Ihsan Shamran Al-Yasiri. "Economy News"   Banks   Economy News – Baghdad  The Director General of the Accounting Department at the Central Bank of Iraq, Ihsan Al-Yasiri, said on Sunday that the initiatives of the Central Bank of Iraq in recent years have contributed to employing the unemployed and restoring life to the stalled projects.

Al-Yasiri added in an interview with "Al-Eqtisad News", that "after the economic and security crises that Iraq witnessed during the previous years, the Central Bank was involved in the comprehensive development process."

He added, "The state was unable to provide financial resources during those years, but the Central Bank launched the 5 trillion dinars initiative for specialized government banks and the 1 trillion initiative for private banks."

He emphasized that "this initiative contributed to employing the unemployed and moving projects that have been stalled for years."

He continued, "The Central Bank, with all its strategies, does not focus only on developing its human resources, but rather on developing human resources in all institutions."

He pointed out that "the aim of changing the exchange rates is to support the Iraqi product in its competition with imported products."

He explained that "some sectors will respond immediately to this change, such as the agricultural sector, the construction sector, and the light industries sector," noting that "as a result, the central bank’s strategy to enter with wishful thinking has begun and will not end as it will remain supportive and supportive of the banking sector and other economic sectors."   Number of observations 150 Date added 01/31/2021

https://economy-news.net/content.php?id=23886

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KTFA Members "News and Views" Sunday 1-31-2021

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Samson:  Sairoun: Raising Or Lowering The Exchange Rate Of The Currency Is The Exclusive Authority Of The Government

31st January, 2021

Al-Masoudi said in a press statement by the Independent: “Articles 78 and 80 are clear about the government's authority to manage the country, economic planning and financial policy, which are all exclusive to the executive authority.” He added, "The raising or lowering of the currency rate is an exclusive prerogative and part of the government's measures to reform the economy."  LINK

DeepWoodz:  Imo...This should make you smile and it’s at least the third article I’ve seen saying this.   It’s up to Kadhimi. 

Samson:  Kuwait postpones debts on Iraq to next year

31st January, 2021

The State of Kuwait promised to postpone the debts owed by Iraq to next year.

The head of the Finance Committee, Haitham Al-Jubouri, said, "The Kuwaiti side promised to postpone the debts on Iraq until next year.

A parliamentary delegation had paid an official visit earlier to the State of Kuwait.   LINK

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Don961:  New text in the draft federal budget in Iraq to establish a special petrodollar fund

January 31, 2021 12:45 AM

Mubasher: The Financial Committee in the Iraqi Parliament announced today, Saturday, the addition of a new text in the draft federal budget law for 2021. 

The Media Department of the House of Representatives stated in a statement carried by the Iraqi News Agency (INA), that "the Finance Committee added a text in the draft Federal Budget Law for 2021, which includes the establishment of a special petrodollar fund for oil and gas producing provinces to implement projects and provide services." 

Today, Saturday, Parliament Speaker Muhammad al-Halbousi chaired a meeting of the Parliamentary Finance Committee, to discuss the draft federal budget bill for the fiscal year 2021.     LINK

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Samson:  Monetary Policy and Fiscal Policy: An Overview

31st January, 2021 by Dr. Muhannad Talib Al-Hamdi

Monetary policy and fiscal policy are the two tools that are most widely used to influence a nation's economic activity. Monetary policy is primarily concerned with managing interest rates and the total supply of money in circulation and is generally implemented by central banks, such as the Central Bank of Iraq and the US Federal Reserve Bank. Fiscal policy is a general term for tax measures (and management of government resources) and government spending. In Iraq, the country's fiscal policy is determined by the government (the executive branch) and the House of Representatives (the legislative branch). In this article, we will talk about monetary policy and leave the next article about monetary policy

Monetary policy

Monetary policy is the process of formulating, announcing and implementing a plan of actions taken by the central bank, currency board, or any specialized monetary authority that controls the amount of money in the economy and the channels through which new money is obtained in a country. Central banks usually use monetary policy to either stimulate the economy or dampen its growth. By incentivizing individuals and firms to borrow and spend, monetary policy aims to stimulate economic activity. On the contrary, by restricting spending and stimulating savings, monetary policy can act as a brake on inflation and other issues associated with an overheating economy

Monetary policy is the most blunt instrument in terms of expanding and contracting the money supply to affect inflation and growth and has less of an impact on the real economy. For example, the Fed was negative during the Great Depression. His actions prevented a complete economic collapse but did not generate significant economic growth to reflect lost output and lost jobs . An expansionary monetary policy can have limited effects on growth by increasing asset prices and lowering borrowing costs, making companies more profitable

Monetary policy relates to the demand side of economic policy, and it refers to the measures taken by a country's central bank to control the money supply and achieve macroeconomic goals that promote sustainable economic growth. This is achieved through measures such as adjusting the interest rate, buying or selling government bonds, regulating foreign exchange rates, and changing the amount of money that banks have to keep as reserves

Economists, analysts, investors, financial experts and politicians around the world are eagerly awaiting monetary policy reports and results of meetings in which monetary policy decision makers participate. Such developments have a long-term impact on the overall economy, as well as on specific industrial sectors or markets

Monetary policy is formulated on the basis of inputs gathered from a variety of sources. For example, the monetary authority may consider macroeconomic figures such as GDP and inflation, growth rates for different industry sectors and the numbers associated with them, as well as geopolitical developments in international markets, including oil embargoes, tariffs, or trade wars. Monetary policy-making entities may also consider concerns raised by certain groups such as those representing different industries and companies, survey results by well-known institutions, information from government and other reliable sources

Monetary policy requirements

Typically, monetary authorities are given political mandates to achieve a steady rise in GDP, keep unemployment rates low, and keep foreign exchange rates and inflation rates within a predictable range . Simply put, the central bank has a responsibility to balance economic growth and inflation. In addition, the population aims the cash to keep the prices of Aceh long - term interest rates are relatively low. The role of the central bank is to be the lender of last resort to commercial banks when they are undergoing a liquidity crisis to prevent financial institutions from failing and spreading financial panic, to provide commercial banks with liquidity, and to be responsible for regulatory auditing of institutions in the financial services sector

In general, monetary policies can be classified as either

Expansive monetary policy:

If a country is facing a high unemployment rate during a period of economic slowdown or recession, the monetary authority can choose an expansionary monetary policy aimed at increasing economic growth and expanding economic activity. As part of the expansionary monetary policy, the monetary authority often cuts interest rates to boost spending and make money relatively favorable

Central banks are using expansionary monetary policy to reduce unemployment and avoid recession. This expansionary policy increases cash by giving banks more money through borrowing. As a result, banks lower interest rates, making loans cheaper. Firms are borrowing more to purchase equipment, hire employees, and expand their operations. People borrow more to buy more homes, cars, appliances, and more. All of this increases demand and stimulates economic growth. An example of this expansionary approach is the low to zero interest rates that many leading economies around the world have maintained since the 2008 financial crisis

Contractionary monetary policy

An increase in the money supply can lead to higher inflation, raising the cost of living and the cost of doing business. Contractionary monetary policy, by increasing interest rates and slowing the growth of the money supply, aims to reduce inflation. This can slow economic growth and increase unemployment, but it is often necessary to cool down the economy and keep it under control. Central banks use deflationary monetary policy to reduce inflation as it reduces the money supply by restricting the amount of money that banks can lend. Banks charge a higher interest rate, which makes loans more expensive. Businesses and individuals borrow less, which slows down growth

In the early 1980s, when inflation reached record levels in the United States, reaching nearly 15%, prompting US President Gerald Ford to call inflation "the people's first enemy", the Fed raised the benchmark interest rate to 20%. Although high interest rates led to an economic recession, the bank was able to return inflation to the desired range of 3% to 4% within the few years after that

Monetary policy objectives

Central banks have three goals by exercising monetary policy. The most important one is managing inflation. The secondary goal is to reduce unemployment, but only after controlling inflation. The third goal is to promote moderate long-term interest rates

Monetary policy implementation tools

Central banks use a number of tools to shape and implement monetary policy

The first is to buy and sell short and long-term government bonds in the open market using the financial reserves they have. These operations are called open market operations. Open market operations have traditionally aimed to achieve moderate short-term interest rates by adding or withdrawing funds in the market. The central bank adds funds to the banking system by purchasing financial assets (government bonds) or withdrawing them by selling assets, and commercial banks respond to this by lending money more easily at lower interest rates, or more difficultly with higher interest rates, until the achievement of The target of the interest rate that the central bank is aiming for. Open market operations can also target specific increases in the money supply to get banks to lend money more easily by purchasing a specified amount of assets, in a process known as quantitative easing

The second option used by the monetary authorities is to change the interest rates that the central bank imposes on commercial banks in order to obtain loans from the monetary authority or the so-called discount rate. With this role, the monetary authority plays its important role as a lender of last resort when commercial banks seek emergency direct loans to cover their operations. The imposition of higher interest rates, an example of deflationary monetary policy, means that commercial banks must be more cautious about their lending operations or the risk of failure. On the contrary, lending to commercial banks at lower rates will enable them to offer loans at lower rates of interest and work with lower reserves. By raising the price Debit, the monetary authority tries to dissuade commercial banks from borrowing. This measure reduces liquidity and slows the growth of the economy. Conversely, by reducing the discount rate, the monetary authority encourages commercial banks to borrow, and this increases cash liquidity and promotes growth

The third tool is the mandatory legal reserve requirement. The monetary authority, through a law enacted by the legislative authority in the country, orders the commercial banks to the proportion of the money they must keep from the deposits made by the clients of the banks in order to ensure their ability to fulfill their obligations. The monetary authority checks that matter every day at the end of the working day. Banks that do not achieve this percentage are subject to heavy penalties, amounting to closure and liquidation. It is known that the depositors do not need all of their deposited money every day, so it is better for commercial banks to lend to individuals and companies everything that is above this obligatory percentage. In this way, commercial banks will have enough cash on hand to fulfill most of customers' daily demands. When the monetary authority wants to restrict liquidity, it raises the mandatory statutory reserve ratio, thus giving banks less money to lend. And when it wants to expand liquidity, it reduces the reserve requirement, giving commercial banks more money to lend. Central banks rarely change the statutory reserve ratio because that requires a lot of political action and legislation and makes the cost of doing business higher

Finally, in addition to directly influencing the money supply and the bank lending environment, central banks have a powerful tool in their ability to shape market expectations through their public announcements about future central bank policies. The monetary authority’s data and policy announcements move the markets, and investors who guess correctly what central banks will do can make big profits. However, the monetary authority’s policy announcements are effective only within the limits of the credibility of the authority responsible for formulating, announcing and implementing the necessary measures. In an ideal world, monetary authorities should operate completely independently of government influence, political pressure, or any other powers to make their policies. If the central bank announces a certain policy to place restrictions on increasing inflation, then inflation may continue to rise if the general public has little or no confidence in the monetary authority. When making investment decisions based on the monetary authority's stated policies, one must also consider its credibility

In reality, however, governments around the world may have different levels of interference in the work of the monetary authority. This could be done by the government, judiciary, or political parties, whose role should be limited to appointing key members of the monetary authority’s board of directors only. Alternatively, the influence of these actors could extend to forcing members of the Monetary Authority to announce populist measures, for example, to affect the economy when elections approach

Iraqi Monetary Authority

The Iraqi National Bank was established in 1947 with a capital of five million Iraqi dinars and was the nucleus of the Central Bank of Iraq established under Law No. 72 of 1956. The Central Bank of Iraq was reconfigured on March 6, 2004, as an independent monetary authority for the country. Its formation was necessary due to the events that led to the US invasion of Iraq and its consequences, as well as the downfall of the former regime. The bank was established with a capital of 100 billion dinars provided by the state in exchange for 100% of the bank’s capital, meaning that the federal government is the sole owner of these non-transferable shares. The first governor of the Central Bank of Iraq after the regime change was the well-known economist Dr. Sinan Al-Shabibi, and Mr. Mustafa Ghaleb was finally appointed as governor of the Central Bank by Prime Minister Mustafa Al-Kazemi in September 2020

The bank manages domestic monetary policy and oversees the country's financial system. It is headquartered in Baghdad and has four branches in Basra, Mosul, Sulaymaniyah, and Erbil . The new Law No. 56 of 2004 granted the Central Bank independence as it should not receive instructions from the government

In the past five decades, monetary policy has been constrained by two factors, the rentier nature of the Iraqi economy

The effect of fiscal policy, and thus the money supply was linked to government expenditures, but coordination between monetary and fiscal policy remained weak. In 1964, the Iraqi authorities reduced the role of the private sector, commercial, industrial, and banking services, through nationalizations that included commercial banks. Until the 1980s, commercial banking transactions were concentrated in a single state bank, the Rafidain Bank. Later on, another state bank, Rasheed Bank, was established. And in 1991 it was granted licenses for the establishment of private banks

The main objectives of the Central Bank of Iraq are to ensure domestic price stability and to develop a stable and competitive financial system based on a market economy, which is a system consisting of commercial banks, financial companies, stock exchanges and insurance companies. To achieve these goals, the CBI aims to support sustainable growth and employment in the country

In order for the Iraqi banking sector to perform its functions, the Central Bank of Iraq undertakes the following tasks

Implementation of the exchange rate policy. The Central Bank of Iraq manages the exchange rate policy of the Iraqi dinar, which is pegged to the US dollar. The International Monetary Fund describes the peg to the dollar as a fundamental pillar of the economy, which has led to the persistence of low and stable inflation in Iraq, with an average of about 2% for several years 

Managing Iraq's gold and foreign exchange reserves. The Central Bank of Iraq has built a respectable level of reserves of $ 54 billion by September 2020

Issuing and managing the Iraqi national currency, the Iraqi dinar, as a new currency was put into circulation at the end of 2003

Supervising the payment system, organizing and supervising the banking sector

Liberalizing the financial sector, especially the interest rate

6. Allowing foreign banks to operate in Iraq

7. Reschedule the local debts owed by the Ministry of Finance

The Central Bank of Iraq used the following rules to manage monetary policy to generate stability in the financial market

1 . Control of liquidity in two ways: primary and secondary lending and acting as lending of last resort

2. The compulsory legal reserve ratio: 25% for private sector deposits and 75% for the government sector since July 2007, but it was modified after that

3 . Auditing of excess bank reserves to monitor and control liquidity

4 .  Buying and selling treasury bills for a period of 91 days, 63 days and 28 days

5. Management of lending between commercial banks

The Central Bank of Iraq faces a number of challenges, including managing monetary policy. One of the main issues of concern stems from the insurgency by ISIS gangs in parts of the country that are believed to be responsible for a number of severe financial turmoil. The Central Bank of Iraq says ISIS looted nearly $ 800 million worth of the country's banks between 2014 and 2017, most of which was denominated in Iraqi dinars

Another major issue for the central bank stems from fluctuations in oil prices. Oil exports are the main source of foreign currency for Iraq, and thus the most important for the country's economy. According to the Organization of the Petroleum Exporting Countries (OPEC), Iraq's crude oil exports reached nearly 4 million barrels per day in 2019. The decline in oil prices was the driving force behind the decline in Iraq's foreign reserves, from $ 54 billion at the end of 2015 to 45 A billion dollars at the end of 2016. Global oil prices collapsed in early 2020, amid a global economic slowdown due to the Coronavirus pandemic , putting economic and social conditions in the war-torn country under severe pressure. Total Iraqi oil revenues nearly halved, from $ 5.05 billion in February 2020 to $ 2.99 billion in March of the same year    LINK

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Samson:  Amid tight security ... Massive demonstrations sweeping central Baghdad 

31st January, 2021

Hundreds of postgraduate degree holders and graduates from other majors demonstrated on Sunday in front of an Iraqi government office in Al-Alawi district in central Baghdad.

The Shafaq News Agency correspondent said that the demonstration witnessed a partial blocking of the streets, indicating a "very tight" security presence. LINK

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Representatives Hold Parliament Responsible For The Failure To Question The Governor Of The Central Bank

January 29, 2021 281  Baghdad – Time  An expert revealed that there are indicators of corruption in the Central Bank of Iraq and its governor in the currency market after the decision to raise the dollar against the local dinar.

Salam Al-Zubaidi said in a statement yesterday that (the bank has major indicators, especially during the recent period after the currency exchange rate increased), indicating (there are files of corruption in the currency market, but we did not find anyone to hold it accountable), and Al-Zubaidi described (the statements of Governor Mustafa Ghaleb frightening and irresponsible and that it is I lost the independence of the bank when it stated that the raising of the dollar was not from the bank, but from the Ministry of Finance).

Representatives from different blocs held Parliament responsible for failing to question the governor of the Central Bank of Iraq, while the Saeron Alliance responded to the accusations by confirming that it stood with any professional questioning.

The head of the parliamentary government program monitoring committee, Hazem Al-Khalidi, confirmed in a statement yesterday that (there are observations and major problems on the performance of the central bank during this stage), indicating that (the budget must be passed, but not by these numbers), stressing that (this week, the governor will be questioned) Central Bank and Minister of Finance).

In turn, a member of the Kurdistan Democratic Party, Majid Shankali, said in a tweet on Twitter: (It is confirmed and proven to everyone, in the forefront of which is the bloc that claims not to have any executive position, that the governor is affiliated with that bloc and it worked to not complete a quorum inside the parliament to prevent his interrogation).

The representative of the Nasr Bloc, Hoda Sajjad, revealed in a televised interview that a parliamentary bloc came to question the head of the Media and Communications Commission in absentia and evaded attending the central bank governor’s interrogation session last Wednesday.

Sajjad said that (the determination of some parliamentarians not to proceed with the questioning of the governor gave a bad message to the street. Al-Iraqi), blamed the (Parliament Presidency Commission for the failure to hold the quorum for the session and put the interrogation paragraph in a crowded schedule), and Sajjad expressed her surprise that (the first deputy speaker of the council did not ask the media department to publish attendance as he does with the rest of the sessions, especially since all the representatives were Present from 3 pm to 6 pm, and the bell for the start of the session was not rang, as we were surprised to raise it to another notice).

The MP of the Saeron Muhammad Al-Ghazi Alliance responded to the accusations leveled against his coalition by obstructing the interrogation of the governor and breaking the quorum. Al-Ghazi confirmed in a statement yesterday that (a number of coalition representatives were present at the scheduled session, while four representatives from the Victory Coalition, to which Representative Hoda Sajjad belonged), stressing that (Sairoun was the most attended bloc, and we support the interrogation of the governor of the Central Bank altogether because he It is not politically motivated and we are fully convinced of it, and the alliance is with any professional interrogation).  LINK

A Decrease In The Trading Index Of The Iraq Stock Exchange

Economie| 01:37 - 01/30/2021   Baghdad - Mawazine News  The index of weekly trading in the Iraq Stock Exchange closed with a decrease of 0.25%.

A statement by the Financial Markets Market, which has received / Mawazine News / a copy of it, stated that "the Iraq Stock Exchange organized five trading sessions during the fourth week of January 2021," indicating that "the number of shares traded during this week amounted to more than four billion shares. The value of shares traded this week amounted to more than three billion dinars.

The statement indicated that "the trading index in the market for the first session of the week closed at (489.66) points, while at the end of the week the index closed at (488.42) points, achieving a decrease of (0.25%) from its closing at the beginning of the session, pointing out that it was" implemented. During the week, more than (2000) sale and purchase contracts on the shares of companies listed on the market. ”https://www.mawazin.net/Details.aspx?jimare=139850

Parliamentary Finance Does Justice To The Oil And Gas Producing Provinces In The Draft Budget

Time: 01/30/2021 17:57:41 Read: 52 times   The Finance Committee adds a text in the draft federal budget bill for 2021, which includes the establishment of a special petrodollar fund for oil and gas producing provinces to implement projects and provide services.  LINK

An Economist Expects A Decrease In Iraqi Oil Production

Time: 01/30/2021 17:19:33 Read: 884 times   {Baghdad: Al Furat News} Economic expert Mustafa Sanad expected, on Saturday, that Iraq would reduce its oil production to compensate for the previous violations.

Sanad said, in his blog post on "Twitter," that Iraq, the second largest oil producer in OPEC, will produce about 3 million and 600 thousand barrels of crude per day in the next two months, which is the lowest level of production since 2015.

He added: that Iraq's ability to comply with OPEC + countries depends on the approval of the Kurdistan region of Iraq to reduce production from fields in the region, which the central government says is beyond its control.

Sanad explained: Non-commitment of the region means that Iraq will be forced to reduce production at a greater rate than the fields in the south, which have a much lower production cost than the production cost from the fields of the Kurdistan region, and thus the loss is double.   LINK

The Iraqi Government Agrees To Open A New Port With Iran

11:02 - 01/30/2021   The information / Baghdad ..The local administration of Wasit governorate obtained the approval of the central government to open the Shehabi border crossing with neighboring Iran, in the east of the province, which will contribute to loosening the momentum at the Zurbatiyah port and obtaining new financial revenues that support the province’s budget.

"The road linking Al Shehabi Port and Sheikh Saad district has been paved and paved with a length of 40 km back and forth, and it is ready for the vehicles and buses to come and go."

"The port will be prepared to receive two thousand people a day and about two million people during religious events, as it has been equipped with reception halls, entry halls marking booths, and all other requirements applicable to other border outlets," Al-Atabi added.

He explained, "The new port is the closest to the holy cities of Karbala and Najaf," noting that "it contributes to finding financial resources to be added to the province's treasury."

The port connects Sheikh Saad district, south of Kut, and the Iranian Ilam province, while its opening depends on completing the approvals of the concerned departments, their readiness and the degree of safety in terms of floods, with a report prepared by the Water Resources Directorate.

The new port is 70 km away from the Zurbatiyah border crossing, while it is 200 km away through Iranian territory, due to the terrain and the undulating lands inside Iran. https://www.almaalomah.com/2021/01/30/517946/

Media And Communications: Zain Has Fulfilled All Requirements And Paid Off The Debts Owed By It

Local| 04:20 - 01/30/2021  BAGHDAD - Mawazine News  The Media and Communications Commission confirmed, on Saturday, that Zain Iraq has fulfilled all the requirements in terms of paying the debts owed by it, paying the renewal dues, the fourth generation spectrum and other legal aspects.

The authority added, "The launch of the 4G service is currently considered" experimental "to ensure that it is published in high quality and then is commercially launched.

And she emphasized, "Any company that fulfills the requirements will be granted the right to launch the service." https://www.mawazin.net/Details.aspx?jimare=139870

The US State Department Pledges To Support Iraq

Time: 01/2021/30 11:42:36 Read: 1,651 times   {Baghdad: Evert News} The new US Secretary of State, Anthony Blinken, pledged that his country would continue to help the Iraqi people, while encouraging the continuation of the federal government's efforts to meet the demands of the Iraqi people.

The US State Department said in a statement, that Secretary of State Anthony Blinken made a phone call with his Iraqi counterpart Fuad Hussein, noting that the two sides discussed the strategic framework agreement between Baghdad and Washington and stressed the principles contained in the agreement.

Blinken encouraged the Iraqi federal government to "continue efforts to meet the demands of the Iraqi people for a more equitable and just country," supporting "early elections proposed this year," pledging to "help Iraq implement basic economic reforms and strengthen trade relations between the United States and Iraq for the benefit of both countries."   LINK

A Member In Parliamentary Finance Evaluates The Ministry’s Performance At {Zero}

Time: 01/2021/30 11:53:35 Read: 3,094 times   {Baghdad: Al Furat News} The Parliamentary Finance Committee confirmed, on Saturday, that there are no deductions in the salaries of employees in the 2021 budget, indicating that all the numbers in the budget are not real.

And Naji Al-Saeedi said in a televised interview, "The performance of the Ministry of Finance is {zero} because it does not know the number of employees in Iraq until now, and all the numbers in the budget are not real, such as the operational budget, staff numbers, etc."

He continued, "There are no deductions in salaries and there are resources with the state that can supplement the budget without deducting the salaries of employees," noting that "the Finance Committee rewrote the budget again and we indicated that there is a 34 trillion dinars surplus in spending and this indicates that the numbers contained in the budget are far from healthy." ".

Yesterday, Thursday, a member of the Finance Committee, Jamal Cougar, revealed in an exclusive interview with NRT Arabia, two proposals to reduce or cancel employee salary deductions in full, stressing that the deduction proposal submitted by the government is totally rejected.   LINK

To read more current and reliable Iraqi news please visit BondLady’s Corner:

 https://www.bondladyscorner.com/

News, Rumors and Opinions Sunday Morning 1-31-2021

RV Excerpts from Special Restored Republic via a GCR Report as of Sat. 30 2021

Compiled by Judy Byington

Judy Note: According to a top Banker in Zurich, a green signal was given to start all Global Currency Reset operations on Tues. 26 Jan. 2021. The official start of GCR/ RV liquidity was scheduled for Mon. Feb. 1 2021.

Thurs. 1 April was known as the Great Event – the start of the financial year in the new world financial system after the Global Currency Reset.

A Top Banker in Zurich Switzerland: A green signal was given to start all operations on Tues. 26 Jan. 2021. The official start would be Mon. Feb. 1 2021. It will be started with German Bonuses, Zimbabwe, IQD-Dinar sequentially Exotic Assets (there may be some change).

Sat. 30 Jan. Rinus Verhagen:

Official Announcement from a top Banker in Zurich Switzerland:

Dear owners of assets, a green signal was given to start all operations on 26 Jan. 2021. We are in the process of financial and operational logistics for all operations to go well. Additional payments of 1%, 9% after 9 days and 10% after 5 days may be suffered with any change in the Operating Tables.

The official start is scheduled for Feb. 1 2021. It will be started with German Bonuses, Zimbabwe, IQD-Dinar sequentially Exotic Assets (there may be some change).

We ask everyone for a little more patience. After so many years we have arrived. It has been a giant logistic process with astronomic financial codes and necessary to reduce the rhythm due to viral pandemic. Thank you to all owners and people involved. Don’t give up. The final moment has arrived. Instructions for scheduling TTMs will be sent via Email.

The CCP has realized that their policies can no longer be maintained at home and abroad.

The whole world has abused the Chinese people to use them as system slaves to produce goods.

We are now near the end of the 10 days of darkness, where we can now count on good news.

The Bankrupt US Inc, is further into debt that is now uncollectible.

The whole derivatives trade of empty promises is about to collapse, but the Great Reset has no Gold to cover all the money.

Since now the FED and ECB can no longer produce money out of thin air the whole Great Reset house of cards is falling apart.

The Euro cannot be a world trade currency, as it has no counter value, this means that the Fascist EU has no right to exist anymore.

All member countries of the Nazi EU are now sovereign again.

The GESARA world funds can never be controlled by the existing Cabal or Bilderberg governments.

Now that the mass arrests in the US are taking out the D*eep State members, and remember America first, the rest of the world will follow.

We see that several governments have already stepped down in Europe.

Own armies in Europe are now being ordered by the US to start arresting their own D*eep State governments.

It is now important to watch out that the EBS comes into force and the revelations are made public.

Then D*eep State politicians will gladly let themselves be taken to safety by the Army, to be tried for their crimes, in order to avoid the retaliation against them from their own population.

Now that the story is becoming so clear, one no longer has any valid arguments for doing a Central Banks Great Reset without value, based on Debt Slavery.

I think we are now going to see a safe period of transition, where the GESARA funds are going to be released under the supervision of the US military.

After all, NESARA and GESARA is a global operation to free the world's population from the Central Banks.

Now that the republic is being restored there should be new safe elections.

The D*eep State figures have lost reality and their own narrative out of delusions of grandeur.

Companies are reopening, HCQ is suddenly good again, so people have completely undercut their own narrative.

We await further developments in good spirits, because NESARA / GESARA is much more than just MONEY or GOLD it is about getting our sovereignty back.

Gold is the new means of payment, whereby the revaluation of currencies will determine the value of each currency as a trading transaction.

The curse called EURO will no longer be able to hold.

This will undo the whole NWO plan to hold the world population hostage by the Elite, the control system set up will have to be dismantled.

Back to simplicity and the natural laws universe laws we are about to experience.

Then the US army and patriots will restore the constitution to 1776, giving everyone back their basic rights to establish a fair rule of law.

There will be a transition, we will be able to decide what a government should look like, where the people have the power and no corrupt government can impose laws that go against the interests of the people.

The best is yet to come. Rinus

Read full post here:  https://inteldinarchronicles.blogspot.com/2021/01/restored-republic-via-gcr-special_30.html

Courtesy of Dinar Guru

Jeff   Article: "Shocking parliamentary warning: The dollar may rise to 500 thousand dinar"  ...this is not even from the Central Bank...this article is pure trash...Anytime financial information is put out in the news if it's not from the Central Bank I would be very careful trusting it.  Be careful trusting only one single article...  Article:   "Parliament intends to reduce the dollar exchange rate in the budget".   Here's what they're really going to do...they have to.  Their inflation is rising and they have to bring it down.

Bruce   [via WiserNow]   ...what we are looking for them to do is to do a final vote...of the budget - AND…the HCL...The HCL is the Hydro Carbon Law - it’s the Oil and Gas Law...the law that takes percentages and attributes the percentages to the region of Kurdistan and the rest of Iraq and Baghdad...they are going to vote on is a final vote on 2021 budget and the HCL on Monday...but to be able to do that they have to have a new rate on the Iraqi Dinar before the vote...one of our individuals that lives in Mosul...said that has to happen before Monday – well guess what?  The first business day for Iraq is Sunday – my gut is they will have that new rate on Sunday...the timing is interesting as far as the vote on Monday – Remember – we do have a group of people over there in Iraq to help them finish this – and give them any additional help they need regarding the reevaluation of their currency – What is it going to come out at?  I don’t know exactly – I know it should be really good – along the lines of what Dr Shabbibi  said it would be – back in 2012...

**********

NOW IS THE TIME to move on silver

Pimpy’s Investment Chat:  Jan 30, 2021

https://youtu.be/hHx7LNwVy1k?t=5

Mike Maloney and Silver Report Uncut Sunday 1-31-2021

The SILVER SQUEEZE: Eat My Shorts - Mike Maloney

Premiered 58 minutes ago

Join Mike Maloney for this must-watch update, in which he unravels the latest news on the current “silver squeeze”.

What will happen over the coming days and weeks?

What about shortages of silver?

Where could the price of silver go?

https://youtu.be/Jq0L5LOqLAU?t=1

Wall Street Bets Turns Attention On SLV, The Great Silver Short Squeeze Huge Surge, Pile On Silver

Silver Report uncut:  Jan 31, 2021

This is the first time the people have begun to recognize who their enemy is and they have begun to do something about it. I complain about these evil banks and their jerking the system around and it sucks to watch these criminals suppress silver prices to the lowest levels in History.

I came across this blog that detailed the Wall Street Bets plan to crush the silver shorts, In short, the plan is Buy SLV shares (or PSLV shares) and SLV call options to force physical delivery of silver to the SLV vaults.

And the happy Hawaiian had a good post and He said The people naked shorting silver via the futures markets are a couple of large banks and making them pay dearly for their over-leveraged naked shorts would be incredible.

 It’s not Melvin capital on the other side of this trade, its JP Morgan. Time to get some payback for the bailouts and manipulation they’ve done for decades (look up silver manipulation fines that JPM has paid over the years).

https://youtu.be/spKIuUIClZY?t=5

"Tidbits From TNT" Sunday Morning 1-31-2021

TNT:

Tishwash:   The World Bank announces its support for reforming the Iraqi economy

The World Bank announced that it supports reforms to revive the Iraqi economy and solve its structural problems.

The representative of the World Bank mission in Iraq, Ramzi Noman, during a meeting with Chairman of the Committee of Finance Parliamentary, Haitham al – Jubouri, E n The World Bank supports the reform process to revive the Iraqi economy and solving structural problems, stressing at the same time , regained the bank to support investment and development in Iraq projects.

On the other hand, the head of the Parliamentary Finance Committee, Haitham Al-Jubouri, said that the Finance Committee had a big challenge in the budget represented in the huge deficit and tremendous growth in expenditures without actual reform measures, indicating that the committee included many reform measures and rearranging the budget formulation with an economic view that reduces Pressure on oil revenues by supporting non-oil resources such as border crossings, tax collection, and private sector support to stimulate the Iraqi economy .  link

Cutebwoy:  Al-Jubouri to the World Bank Mission: Many reform measures were included in the budget

Baghdad – Mawazine News,

Head of the Parliamentary Finance Committee, Haitham Al-Jubouri, discussed with the representative of the World Bank delegation in Iraq, Ramzi Numan, the draft of the 2021 budget bill.

A statement stated, “The Chairman of the Finance Committee, MP Haitham Al-Jubouri, received the representative of the World Bank mission in Iraq, Ramzi Numan, to discuss a draft Draft Federal Budget Law for 2021. ”

He added, “The meeting discussed the great challenges facing the Finance Committee, during its discussions of the draft budget in light of an unstable economic and financial situation, whether in Iraq or the world, imposed by the Corona pandemic.”

Al-Jubouri confirmed, according to the statement, that “the Finance Committee had a big challenge in the budget represented in the huge deficit and tremendous growth in expenditures without actual reform measures.” Oil revenues by supporting non-oil resources such as border crossings, collection and private sector support to stimulate the Iraqi economy. ”

For his part, Numan said: “The World Bank supports the reform process to revive the Iraqi economy and solve its structural problems,” stressing at the same time that the bank has restored to support investment and development projects in Iraq.

In another context, Speaker of Parliament Muhammad al-Halbousi chaired the thirty-fifth meeting of the Parliamentary Finance Committee, in which it continued its discussions on the draft federal budget bill for 2021.

A statement by the Media Department in the House of Representatives stated that the Speaker appreciated the efforts of the Finance Committee in its discussions to balance the current year and bear the burdens of the confusing financial and economic situation in the country.

He added, “Al-Halbousi presented a set of proposals and ideas that could be included in the draft law that would contribute to developing the agricultural sector, such as obliging the government to pay farmers’ dues and supporting this important segment in the country, and supporting the industrial sector and the private sector to create opportunities for unemployed youth.”

The statement indicated that “the Finance Committee included a text in the budget that includes the establishment of a special fund for petrodollars for oil and gas producing provinces to implement important projects and provide services at the level of all sectors.”

He continued, “The meeting discussed supporting the liberated governorates and providing adequate allocations to the fund for their reconstruction, as well as the need to support the stabilization program to enable the displaced to return to their homes voluntarily.” Ended 29 / A 87

Al-Jubouri to the World Bank Mission: Many reform measures were included in the budget

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

Tishwash:  Erbil enters "last-minute" negotiations with Baghdad on the budget

Member of the Parliamentary Finance Committee, Jamal Cougar, confirmed, on Sunday, that the Vice President of the Kurdistan Regional Government, Qubad Talabani, will arrive in the capital, Baghdad, today at noon, to conduct a final round of negotiations with Baghdad on the budget, indicating that in the event that no agreement is reached, the deputies of the region will boycott the session Vote.

Cougar said in a statement to "the information", that "the vice president of the Kurdistan region, Qubad Talabani, will arrive this afternoon in Baghdad to enter into further negotiations with Baghdad in order to reach a solution that satisfies both parties."

He added, "Talabani's negotiations are the last round, and in the event that no agreement is reached, the region’s representatives will boycott the voting session, and the crisis between Baghdad and the region will remain."

It is noteworthy that the region agreed to deliver 250 thousand barrels of Kurdistan’s oil to the government set forth in Articles 11 and 10 of the budget and related to the region’s share, but Baghdad will not respond and insist that the region hand over all of its oil and half of its other revenues.  link

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

Tishwash:  A member of Parliamentary Finance confirms that discussion of about 40 articles of the draft budget law has ended

A member of the Parliamentary Finance Committee, Representative Shirwan Mirza, confirmed, on Sunday, that the committee has finished discussing about 40 articles of the draft budget law.

Mirza said in a press interview, that the committee will discuss during today's meeting, amending the articles and paragraphs of the budget bill and preparing them for voting by the House of Representatives, indicating that the Finance Committee has finished discussing about 40 articles of the bill.

He noted that the draft budget law will be ready for a vote in the House of Representatives during the current week   link

Mot:  ~~~ AHah!!! ~~~ Sooo It Does Happen!! ~~~~~

Mot:  ~~~ This has been Named ~~~ ""The Dinarian Tree"" ~~~

KTFA, MarkZ, The Atlantis Report and more Saturday Night 1-30-2021

KTFA:

Samson:  More than 4.8 million active bank accounts in Iraq

30th January, 2021

The Iraqi Private Banks Association announced on Saturday that the number of bank accounts in banks operating inside Iraq amounts to more than 4.8 million bank accounts, confirming that the number of activated bank cards is more than 11.2 million cards.

The executive director of the Iraqi Private Banks Association, Ali Tariq, said in a press release, received by Shafaq News, that bank accounts amount to more than 4.8 million accounts, which is a very good percentage, and is witnessing a significant annual growth, which is more than 44% thanks to the salaries nationalization program for state employees and the opening New companies in addition to the citizens’ need to save in banks because of the high interest rate of fixed deposits and purchases from the Internet and others.

He noted that the number of currently activated bank cards is more than 11.2 million cards, while the number of ATMs is 1170 devices, explaining that the point of sale devices known as POS amount to about 4,000 devices, and electronic payment companies are working to increase to include all stores throughout the country during the years Coming.

Tariq pointed out that the activated electronic wallets amount to more than 3.5 million wallets, and that the points of cash payment amount to about 13 thousand devices spread throughout Iraq.

He stressed that "the strategy of the Central Bank of Iraq to enhance financial inclusion contributed to increasing bank accounts, bank cards and electronic payment devices, in addition to being able to diversify banking services to all citizens in Baghdad and the provinces," noting that the Central Bank is working with the International Monetary Fund and the Arab Monetary Fund, And the World Bank, the Association of Private Banks and other financial institutions to promote the concept of financial inclusion inside Iraq.  LINK

Samson:  The Sairon Alliance stresses the need for a "Kurdish conviction" to pass the 2021 budget

30th January, 2021

The Saeron Alliance, supported by the leader of the Sadrist movement, Muqtada al-Sadr, suspended today, Saturday, the fact that there is a parliamentary and political approach to pass the 2021 budget bill without the approval of the Kurdish political forces.

The leader in the coalition, MP Riad Al-Masoudi, told Shafaq News, "The current indications are that the 2021 budget bill will be passed with the approval and support of the Kurdish political forces," stressing the need for a Kurdish conviction about what was mentioned in the budget, and they are aware of the need to vote on the budget in a manner Fast, and they don't want to delay it.

Al-Masoudi indicated that "all political forces, including the Kurdish, will engage in decisive meetings during the next two days in order to finally agree on passing the budget during the current week, after the financial committee has fully completed the project, and it has not remained until consensus and political agreement on it."  LINK

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

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

Petra  Article:  "Finally, the 2021 budget is ready for approval in Parliament"   Quote:  "the Parliamentary Finance Committee will, next week, distribute copies of the revised draft of the Maronite law to the heads of political blocs 24 hours before the date of the voting session on the budget law." The source pointed out that "next Monday is the day set for resuming parliamentary sessions and voting on the budget law."  So, IMO, BIS requires at least 24 hours notice prior to any formal rate change within all CB's around the world. They, in turn, relay that information back to all the CB's globally.  Now, if you read what I just posted the final "draft" will be sent...24 hours prior to the vote. Interesting timing. This may be something, maybe nothing, but it sure falls in line with rate before budget. They are to vote on Monday as Tuesday is their "last day of session!" So, timing is sure unique and allows the ledger to reflect the rate change retroactively back to Jan 1. Again, IMO.

Reposted

Mike Cottrell   [via PDK]   [What timeframe/window  are you hearing for the RV?]  The window is anytime. We are looking at the first financial quarter of the year...I think the window is any time….I would look for it at any moment. …The timeframe that was always given to me was Thurs, Fri, Sat, Sun…Saturday night is when all the banks shut down worldwide for at least an hour to redo their books for going into Monday’s business…

MarkZ   [via PDK]  We have always been told the ideal window was a Saturday Night between 11 pm est to 2-3 AM est…This is the ideal time because of the lack of numbers going through the financial system. It’s a quiet time and the easiest time to flag any nefarious things going on….We have always been looking at this timeframe. Yes they could do it other times….but Saturday night is the one that makes the most sense...With the QFS system they do have more flexibility then they had before.

Can Reddit Day Traders Crash JP Morgan Short Squeezing Silver ?!

The Atlantis Report:  Jan 29, 2021

A decentralized Reddit forum called WallStreetBets is causing chaos on Wall Street.

The WallStreetBets a longstanding subreddit channel where over 4 million users discuss highly speculative trading ideas and strategies, briefly went private on Wednesday in response to millions of new users pouring in.

The Reddit subgroup is operating now by invitation only. WallStreetBets crushes hedge funds and crashes trading apps by creating major short squeezes.

A short squeeze happens when a price increase for an asset prompts a rush in buying activity by those who previously bet that prices would fall. A short squeeze might sound complicated, but it’s actually a relatively straightforward process.

When institutional investors short-sell a stock, what they actually do is borrow a number of shares they believe will drop in value, sell them at the highest price possible and try to buy them back later at a lower price. If they’re successful, they hand the initial borrowed amount back and pocket the difference. If the market turns against them however, and the price of the shares increase, they are forced to buy the shares back at a loss.

If the price rises dramatically within a short space of time, it can cause devastating losses for the short-seller.

Major hedge funds have already lost around 7 billion dollars to WallStreetBets day traders short squeezes. WallStreetBets traders are not stopping here; they are now turning to silver for their next short-squeeze target after being restricted from hot stocks like GameStop and AMC.

Silver has become a new target for Reddit day traders after multiple posts on the infamous WallStreetBets subreddit .

https://youtu.be/gd_FCt83H4A?t=3

Five Ways To Loosen Big Tech’s Grip On Your Life

Five Ways To Loosen Big Tech’s Grip On Your Life

Notes From The Field By Simon Black

January 25, 2021  Bahia Beach, Puerto Rico

I imagine there are countless people right now who feel a wide range of emotions when it comes to Big Tech companies. Anger. Disgust. Confusion. Fear.  We’ve watched with exasperation as Google, Facebook, Twitter, YouTube, etc. have systematically squashed intellectual dissent; their actions have been so commonplace that there’s even a name for it: “De-platforming”.  We all know there’s a ton of garbage on the Internet, including from mainstream sources.

But de-platforming has proven to be wholeheartedly biased, totally arbitrary, and often comically ridiculous. This isn’t just about the election or the Capitol. For example, if you dare utter a word on social media that goes against the infinite and infallible wisdom of the Chinese-controlled World Health Organization, then you might find yourself banned. 

YouTube even suspended a renowned epidemiologist– a bona fide pandemic expert– because he opposed lockdowns and was hence ‘dangerous’.

Facebook censored more than 22 million posts in Q2 of 2020 for ‘hate speech’. Naturally, its entirely up to Facebook to define hate speech and judge whether or not you’re using it.

#killallmen, for example, is NOT considered hate speech. And even by the company’s own admission, hate speech against men, or white people, is a low priority.

It’s clear these companies have an enormous amount of unchecked power. They have the ability to erase you from the Internet, destroy your reputation, and, if you’re someone who makes money online, terminate your livelihood.

But the only reason they have this power is because we’ve given it to them. Hundreds of millions of people have intertwined their entire lives into the Big Tech ecosystem, to the point that they know absolutely everything about us.

People post practically every detail of their lives on Instagram. They tell Zuckerberg what they like and dislike on their Facebook profiles. They tell Jack Dorsey what they believe in on their Twitter feeds.

They give Google free license to spy on every single email that’s sent or received; Google even keeps track of the things that you buy, archiving receipts from online purchases in your inbox and aggregating all of it into your advertising profile.

Through its Maps, Drive, and Calendar applications, Google has access to our schedule, our location, and our confidential files.

They know what we’re searching for. They know what we’re saying. They know what we’re doing.

And at a certain point, a rational human being might be compelled to say “enough is enough”. How can anyone possibly trust these people with their data anymore?

The good news is that there are tons of solutions.

In fact, distancing yourself from the Big Tech companies is one of the easiest ways you can declare your own independence and regain a bit of freedom and security. Below I outline a few options to consider:

1. Absolutely use a VPN

Your device, whether your mobile phone, laptop, or even smart TV, has an IP address, and it’s something that the tech companies use to track you.

Whenever you go to Google’s homepage to search for something, for example, Google already knows it’s you.

And many websites around the Internet will track you by IP address, often sharing this information with Google, Facebook, etc.

Using a VPN helps create anonymity online because you’re no longer accessing those websites from your own IP address.

Right now, for example, even though I’m sitting at home in Puerto Rico, I’m using a VPN service and accessing the Internet through a server in Panama. So any website I visit thinks that I’m in Panama.

There are several VPN providers which, as a policy, do NOT keep logs of their customers’ activities, including VyprVPN and NordVPN.

2) Change your search engine

There’s more to the world than Google search, and plenty of other search engines exist which won’t spy on you. Among them– DuckDuckGo, which is based in the United States, and SwissCows, which is based in Switzerland.

3) Change your web browser

If you use Google Chrome, chances are pretty good that your browser is constantly feeding data back to the mother ship. Everywhere you go on the Internet, Chrome is telling Google about it.

But there are plenty of other browsers out there which are far more privacy oriented. “Brave” is one such browser; it’s open-source, which means that its source code is freely available. And it is automatically set up to block trackers and ads to help protect your privacy.

If you do those three things: VPN, change your search engine, and change your browser, you will take a giant leap forward in distancing yourself from Big Tech.

Those three steps will make it much more difficult for Facebook and Google to track you. But here are a few more to consider:

4) Consider more privacy-oriented chat applications

In a couple of weeks, WhatsApp (which is owned by Facebook) will force all users to accept its new privacy policy. Among other things, this means that ALL of your contacts will be shared with Zuckerberg.

There are better options– like Signal. Signal is ultra-secure, built for privacy, and its source code is open source. There are versions for iOS, Android, PC, Mac, and Linux.

5) Ditch Gmail

You might think that Gmail is free, but you’re paying for it with your personal data.

Google’s algorithms automatically scan every incoming email and mine data about you, all of which ends up in your advertising profile.

There are plenty of other services to use, free and paid. If you’re interested in encryption and security, you might consider Switzerland-based ProtonMail, or Iceland-based CTemplar.

There are endless possibilities to reduce Big Tech influence in your life, and these suggestions barely scratch the surface.

More advanced readers might ditch their operating system altogether for an open-source Linux distribution, or even load a custom ROM on their phone to replace Google’s Android.

For now, start small. These suggestions above are easy steps to get started, and they’ll make a huge difference.

On another note… We think gold could DOUBLE and silver could increase by up to 5 TIMES in the next few years.

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To your freedom,  Simon Black, Founder, SovereignMan.com

https://www.sovereignman.com/trends/five-ways-to-loosen-big-techs-grip-on-your-life-30556/