Tivon and KTFA Members "This is What We Came For" 5-31-2022

KTFA:

TIVON:  Sayyyy whatttttttttttt now? Are you seeing this people? This is what we came for. What's going on tonight with you all. Look at this article. Can you say shots fired? They plan on emptying the budget? Somebody is about to turn over some tables and throw some chairs.    IMO

Clare:  Rights movement: The food security law aims to empty the government budget

05/31/2022

The rights movement confirmed that the adoption of the emergency food security support law aims to empty the government budget of the surplus.

The movement's spokesman, Ali Fadlallah, said; For the program {Al-Mastra}, broadcast by Al-Furat satellite channel tonight, that: "The government deals with the people in the manner of a corrupt doctor, and if the Iraqi parliament is really interested in the citizen, there is a financial management law that is an opportunity."  

He added, "The caretaker government has the right to dispose of the surplus of the 2021 budget, amounting to 14 billion dollars, which is supposed to be used to raise the value of the dinar and increase the balance of hard currency."

Fadlallah indicated, "The purpose of approving this law came to empty the government's budget of the financial surplus, and there will be 10 trillion dinars internal and external borrowing." 

 He recalled by saying, "We warned in advance of the repercussions of the war in Ukraine, and the government did not move a finger, and Iraq is on the verge of deliberately cutting off electric power due to the failure to agree on forming a government." 

He added, "There is a large looting of Iraq's money, and the caretaker government does not have the ability to reject and approve laws, and the emergency support law did not mention the central and southern provinces."

And Fadlallah said, "The law, in principle, is incorrect, and the height of the crime is the failure to allocate funds for it to the central and southern governorates."  

He stressed "the importance of putting the weight of the law on food and water and promoting the food security industry."

The head of the National Forces Alliance bloc, Faleh Al-Sari, called on the House of Representatives to legalize the proposed law on emergency support for food security and development.

Al-Sari said in his intervention in today’s parliament session, if necessities must allow prohibitions, the proposed law must be codified and refined, and its main and primary goal is the problem that the citizen and the world suffers from, which is food, medicine and electricity.

He added, as for the proposed law to branch out and move forward with other directions, activities and ministries, it will expose the House of Representatives to criticism and that it did not proceed with laws and legislation while it is under oath to respect laws and legislation, calling on the Presidency of the House of Representatives to take into account the observations it raised.

The House of Representatives had completed in its session today, Tuesday, the second reading of the proposed law on emergency support for food security and development.   LINK

Iobey777:  I think Tivon is correct!! This is a HUGE warning and slap in the face towards those who have been holding this up!! Go Get 'em Kazemi and whoever else can make this happen!! Time is fast running out!!

More Iraqi News Tuesday Afternoon 5-31-22

More Iraqi News Tuesday Afternoon 5-31-22

TLM724 Administrator Bondlady’s Corner

An Economist Calls For Transferring Part Of The Oil Revenues To The Sovereign Wealth Fund To Eliminate Unemployment

Monday 30 May 2022 10:46 | economic    Number of readings: 189  Baghdad / NINA / - The economic expert, Safwan Qusay, called for transferring part of the oil revenues above $70 to the Sovereign Wealth Fund and financing it from all other revenues to eliminate poverty and unemployment, provide raw materials and deepen investment in industrial and commercial cities.

Qusay said in a statement to the National Iraqi News Agency / NINA/ : "  With the continued rise in oil prices and the increase in Iraq's revenues, it became clear the need to accelerate the achievement of the goals of the White Paper, especially economic diversification,

by transferring part of the oil revenues above $70 to the Sovereign Wealth Fund and financing it from all other revenues and linking it to the national development plan and from Then turn it into real productive projects commensurate with the rates of poverty and unemployment, the availability of raw materials, the deepening of investment in the industrial and commercial cities, and the establishment of launching agricultural cities in the system of partnership between the sources of bank financing and the regular private sector and with government supervision and facilities according to the system of joint arrangements.

Qusay continued: "Such treatments will contribute to achieving food, drug, industrial, commercial and cultural security by investing locally available resources with the need to integrate with the regional and international environment with a flexible and multi-dimensional participation system." / End 8

https://ninanews.com/Website/News/Details?Key=979189

An Economist Stresses The Need To Diversify Sources Of Income And Invest In High Oil Prices

Monday 30 May 2022 10:56 | economic    Number of readings: 198  Baghdad / NINA / - The economic expert, Malath Al-Amin, stressed the need to put the difference in the price of oil fixed in the budget over the selling price in a special account to invest it in huge productive projects that contribute to money circulation, achieving profits and providing thousands of job opportunities.

In a statement to the National Iraqi News Agency ( NINA ), Al-Amin said : “Oil prices in global markets crossed the level of 120 dollars per barrel, taking advantage of the Ukrainian-Russian crisis and the fear of European countries of the possibility of a war that would lead to a halt in energy supplies, which prompted them to boost their energy stocks and increase prices. globally".

He stressed that: “Iraq should benefit from this matter by maintaining the prices set by (OPEC +) so that the rise in energy prices does not cause a rise and inflation in the prices of agricultural and industrial products,” indicating that

the government can put the amount of the price difference fixed in The budget for the sale price is in a special account to be planned and invested in huge productive projects that contribute to the circulation of money, achieve profits and provide thousands of job opportunities, which will contribute to reducing imports, raising the value of the national currency and achieving the required economic development.

“The government is required to work towards Diversify sources of income and reduce dependence on oil exports as a major source of budget financing,

so that Iraq can face the transformation of the global market’s dependence towards clean energy and reduce dependence on oil as its main source. / End 8   https://ninanews.com/Website/News/Details?Key=979193

The Governor Of The Central Bank Receives A Delegation From The International Company “Visa”

Monday, May 30, 2022 8:25 PM  National News Center/ Baghdad  The Central Bank of Iraq confirmed, on Monday, its support for the steps of the "Visa International" company in its work in the country.

And the bank stated in a statement, received by the "National News Center", that "the Governor of the Central Bank of Iraq, Mustafa Ghaleb, received a delegation from the International Visa Company, where the company started the first steps of its work in Iraq."

On the sidelines of his meeting with the delegation, he stressed that "the Central Bank of Iraq will support the company's steps in its work in Iraq, because of its importance in attracting sober international expertise and the need to encourage electronic payments and enhance financial inclusion."

He added that "the Central Bank of Iraq pays great attention to developing the banking sector and keeps pace with the latest developments, and we will provide the necessary support for that."  https://nnciraq.com/131719/

The Central Bank Of Iraq Meets With The International Visa Company

May 31, 2022 The Central Bank of Iraq meets with the International Visa Company

His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhif, received, today, Monday, a delegation from the International Visa Company, where the company started the first steps for its work in Iraq.

His Excellency stressed, on the sidelines of his meeting with the delegation, that the Central Bank of Iraq will support the company's steps in its work in Iraq because of the importance in attracting discreet international experiences and the need to encourage electronic payments and enhance financial inclusion.

His Excellency added:

The Central Bank of Iraq pays great attention in developing the banking sector and keeping pace with the latest developments, and we will provide the necessary support for that.  https://cbi.iq/news/view/2011

It Is Likely That Foreign Reserves Will Rise To More Than 70 Billion Dollars

Sumerian special    2022-05-30 | 05:20  Alsumaria - Iraq news  Source:  Sumerian  495 views  Economic reality: the foreign reserves are likely to rise to more than $70 billion.

There is talk of a clear relative increase in the volume of foreign currency reserves for Iraq, to more than seventy billion dollars, amid expectations of positive repercussions if the right development plans are put in place.

Toward high levels, the size of Iraq's cash reserve is increasing.

Expectations indicate that it may exceed the limits of seventy billion dollars at the end of this year.

Developments that many hope will have positive effects, provided that they think about putting development plans at the forefront of work.

This rise in the volume of foreign currency reserves could be a basis to thwart any future moves to raise the value of the dollar, and may constitute a step towards restoring exchange rates stability in a way that is in the interest of the citizen.

This relatively high level makes Iraq reassuring about the level of foreign reserves, and here the need remains necessary for there to be a process of balance between the level of financing and development steps and means of production to achieve stability.

https://www.alsumaria.tv/news/خاص-السومرية/422029/ترجيحات-بارتفاع-الاحتياطي-الأجنبي-الى-أكثر-من-70-مليار-دولار

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

https://www.bondladyscorner.com/

6 Common Excuses for Not Saving Money

6 Common Excuses for Not Saving Money   By Tara Struyk

Have you ever settled on a new exercise program, only to get a bad cold a few days in and happily throw yourself on the couch, relieved to have a handy excuse? Excuses must be human nature; I know I usually make them when I'm facing something that’s new, that's hard, or that I just don’t enjoy. And I’ve certainly made excuses when it comes to money.

In the years that I’ve been writing about personal finance and investing, I’ve also heard my fair share of excuses, mostly from readers who don’t agree with my advice.

The problem is, unlike good financial habits, excuses are easy to come by, even though most of them just don’t stand up to reason. Check out some of the ones I’ve heard most frequently so far.

  Excuse: “I don’t make enough to save money.”

This may be true for some people, especially in this economy, but not having any money left at the end of the month doesn’t necessarily mean you can’t afford to save.

After all, most people spend money on a number of unnecessary things each month, such as restaurant meals, impulse buys, and cable TV. Finding some money for saving doesn’t have to mean voluntarily living in a dark, unheated room without any entertainment or luxuries, but if you’ve declared your budget too tight to put money aside before even looking for ways to reduce your spending, you’re making an excuse.

Excuse: “Interest rates are too low to bother with.”

Interest rates are at an all-time low right now, and that does make putting money into a savings account a little, well, disheartening. However, it’s likely that many of our grandparents — and certainly our great-grandparents — may have gone years without using a bank at all. Now that banks provide a safe place to park your cash, they pay interest in return for holding your money.

Interest is a great way to grow your savings, but even if you get almost nothing, at least you have some cash when you need it. Plus, if you’re able to put enough away, you can always look into investments with the potential for higher returns, such as stocks and mutual funds.

Excuse: “I have too much debt to put money into savings.”

If you have a lot of debt, it’s important to focus some serious effort into getting rid of it. But that doesn't mean that every bit of money you can spare should go straight to your creditors. In fact, it’s more important than ever to save when you’re in debt because it can help you avoid digging yourself in deeper.

If you don't at least have a small emergency fund, you'll be forced to pull out your credit card when unexpected expenses — such as a car repair — inevitably arise.

Excuse: “I’ll catch up later when my salary is higher.”

To continue reading, please go to the original article here:

https://www.wisebread.com/6-common-excuses-for-not-saving-money?wbref=readmore-2

Tuesday Evening News with MarkZ 5-31-2022

Tuesday Evening News with MarkZ 05/31/2022

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: ​is it Christmas eve tonight mark?

Member: GOLDEN EGG OR SCRAMBLED EGG??

Member: Tomorrow would be a great day for an RV

MZ: I pray you are right. I pray tomorrow is “golden” .  I am still hearing tomorrow is the goal. News has been positive from the banking side…. But I am a bit worried we have not gotten more information from banks. They are still under the expectations that tomorrow will be a “go” day for announcements and setting appointments.

MZ: If it happens I would guess 2 or 3 days to get in. This is still being discussed so cross your fingers and say your prayers. We hope this one was actually it.

MZ: Tonight I will be watching closely. I will sleep with the cell phone ringer on in anticipation….

MZ: If I am hearing this good chatter I am certain other intel providers are also hearing it…hearing tomorrow is the goal for notifications. …..so watch the boards. .

Member: Mark Z heard chinese elders will not make decision during a mercury retrograde so will be after june 7

Member: Did you hear Simon says his humanitarian project was approved from zim.

Member: Do you think Iraq will go alone? What about Vietnam?

MZ: I am told that if Iraq settles for the NEER (Nominal effective exchange rate) instead of a full reinstatement of value and decides to pull the trigger without the rest of the world… if they go with the low rate of $1.60…and let it float …I was told Vietnam would do the same thing….and release the dong at a .30 cent rate and let it float.

MZ: They are both very much expected to quickly float to reinstatement values ...Iraq in the mid $3’s to $4 and Vietnam to float to the low $2 range.

MZ: At least it would finally put an end to us sitting around and waiting. But, it would also rehypothicate the rats….so I don’t see that happening

Member…Then those Chinese elders and white hat better hurry up and do something quick…..

MZ: I still think we will get a full blown reset…the world is very desperate at this point…

Member:  Mark !! this is Super Exciting!! I can’t believe how lucky we are to be a part of this. Whoot Whoot

Member: But the Us does not have an asset backed or gold backed currency yet….maybe they are waiting on that?

Member: not getting to excited, because we haven't seen the event, or market crash.... hope I'm wrong!!

Member: No perp walks. No dragon gold yet

Member: Maybe the RV is the event for the rest to happen?

Member: When the RV goes all the current Administration is automatically gone and new election with new currency…Nesara/Gesara

Member: Frank26 said something about Iraq installing thousands of new ATM Machines Internationally

Member: Do you have any idea where email will come from. What are we looking for in mail. Thanks

Mod: : IT WILL BE POSTED ON THIS WEBSITE

Member: Al dinar sites will post the info….Mark Bruce and others will post the info…..Recaps will send emails to its subscribers…..so will Chronicles……you are not going to miss it.

Member: It is already June 1st here is Australia….will we get emails first?

MZ: I think it will all go at once…all over the world…at whatever time it is….I think it will seem like it is east to west because of the times the banks and redemption centers open worldwide in all the different time zones.

Member: Has there ever been another time we were this close?

MZ: I cannot remember a time when we were this close.

Member: 4 day bank holiday in U.K. queens,jubille june2-5th

Member:  thank you MarkZ and crew for all you do for us.

Member: Have a wonderful evening everyone, keeping the RV fingers and toes crossed

Note: Marks podcast audio was breaking up badly at the end…..technical difficulties.

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

The next stream is tomorrow at 10Am est……..unless.

https://www.youtube.com/watch?v=O1cNcIOaDF0

Some "World News" Posted by Samson at KTFA Tuesday PM 5-31-2022

KTFA:

Samsom:  The European Union removes the largest Russian bank from the "SWIFT" system

31st May, 2022

The 27 countries of the European Union agreed, during a summit in Brussels, to exclude "Sberbank", the largest bank in Russia, from the SWIFT system for international money transfers.

This comes within the framework of the sixth package of European sanctions against Moscow over the "attack" on Ukraine.

"This package of sanctions includes tough measures such as excluding Sberbank, Russia's largest bank, from Swift," said European Council President Charles Michel.

Sberbank is the largest bank in Russia, as it controls about a third of the country's banking sector. LINK

Samson:  Russia's Sberbank declares that it is "operating normally" and that its exclusion from the "SWIFT" system has a limited impact

31st May, 2022

Russia's Sberbank confirmed, on Tuesday, that its exclusion from the SWIFT system for international money transfers, based on the European Union's decision, will have a limited impact.

"We are operating normally - the main restrictions are already in place," said the bank, which has previously been targeted by US and British sanctions. He added that "the exclusion from the SWIFT system does not change anything in the situation with regard to international payments." He stressed that "the internal operations in Russia do not depend on SWIFT, and the bank will implement them normally."

The United States imposed strict restrictions on Sberbank; In early April, it froze all of his assets “associated with the US financial system” and prevented him from conducting transactions with US actors. The United Kingdom also froze the assets of Russia's largest bank.

On Monday evening, the 27 member states of the European Union reached an agreement on a sixth package of sanctions against Russia due to its operation in Ukraine, which includes reducing its imports of Russian oil by 90% by the end of this year, adding 60 additional individuals to the European blacklist, and excluding Three Russian banks are part of the SWIFT system for international money transfers, including Sberbank.

The "Swift" system is considered one of the largest financial and banking messaging networks, and it allows the transit of payment requests between banks, requests to transfer bank customers' funds, requests to buy and sell securities, and others. Sberbank is the heir to the savings banks from the tsarist era, and almost all Russians have an account in it.  LINK

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Samson:  Russian Central Bank: All countries of the world will rethink the risks of the dollar and the euro

31st May, 2022

The Russian Central Bank reported that the West's precedent of freezing part of Russia's international reserves will prompt other countries to rethink the risks of placing their reserves in dollars and euros.

The Russian Central said that “the precedent of freezing the gold and foreign exchange reserves of the Bank of Russia (the Central Bank of Russia) will lead to the fact that the central banks of the world will rethink the risks of placing their reserves in US dollars and the euro. It is possible to expect an increase in the demand for gold and a decrease in the role of the dollar and the euro as reserve assets.”

After Moscow launched a special military operation in Ukraine, Western countries imposed sanctions on Russia, affecting companies, individuals and economic sectors, and within the framework of the sanctions, Russia's international reserves estimated at $300 billion were frozen.

Earlier, Russian President Vladimir Putin warned Western countries against confiscating Russian property abroad, and said that "stealing other people's property never leads to good."

“Violation of rules and norms in the field of international finance and trade does not lead to anything good,” Putin said. In simple words stealing other people's property has never done good to anyone, especially those who are involved in this unseemly act.”  LINK

Samson:  Get ready for reverse currency wars

31st May, 2022

Over the past year, the US dollar has appreciated against the euro by 12%, and at 0.93 to the euro, it is close to parity. If oil and other dollar-denominated commodity prices look high now, they look even higher in euros. 

With the value of the US currency rising, and inflation in many countries at levels not seen in decades, we may now be entering so-called “reverse currency wars” – where countries compete to enhance the value of their currencies against foreign currencies.

Originally, the term “currency wars” was a decorative description of what international economists have long called “competitive devaluations” or, after floating exchange rates began in the early 1970s, “competitive depreciations.” 

In these situations, countries feel aggrieved that their trading partners deliberately pursue policies aimed at weakening their currencies in order to gain an unfair advantage in international trade. 

Competitive devaluation may arise when all countries' major macroeconomic objectives, in addition to maximizing GDP growth and employment, include improving their trade balances. This generally describes the last few decades in the global economy.

On the other hand, reverse currency wars involve competitive currency appreciation. Here, countries imagine that their trading partners are deliberately trying to strengthen their currencies in order to rein in inflation. This could describe the period that began in 2021, when inflation returned to pose a severe problem in most countries.

In either case, it is impossible for all countries to pursue such strategies, because it is not possible to move exchange rates in the same direction simultaneously. Competitive devaluation or valuation is often seen as evidence of a lack of international cooperation to stabilize exchange rates, which sometimes causes calls for a new Bretton Woods-style arrangement for greater policy coordination.

The United States has often been quick to claim that other countries' currencies are unfairly undervalued. Since 1988, Congress has required the Treasury to submit semi-annual reports on whether America's major trading partners are manipulating their currencies. China and other Asian countries are the most common targets. But Switzerland, too, has always been in doubt, even though the Swiss franc can easily be considered the most expensive major currency by other standards.

In February 2013, the US Treasury took charge of a micro-form of the Bretton Woods agreement under which the G7 countries would refrain from taking any steps to devalue their currencies. In fact, the 2013 agreement is unknown to many, but it worked. Over the last decade, the G7 member states have not intervened to sell their currencies in the foreign exchange market.

As for China, which is not a member of the Group of Seven, it intervenes in the currency market. But since 2014, it has been doing so to slow, not encourage, the renminbi's depreciation.

The phrase “currency war” was coined in 2010 by Brazilian leaders to protest the monetary policies of the United States, Japan, and other countries. They did not accuse the US Federal Reserve or the Bank of Japan of openly devaluing the dollar or the yen, or interfering in the foreign exchange market to push the two currencies down, but rather of adopting excessively accommodative monetary policies. 

Brazilian policymakers claimed that their American and Japanese counterparts cut interest rates to zero and then made matters worse by introducing quantitative easing, deliberately devaluing the dollar and the yen, thereby boosting net exports, and exporting unemployment to their trading partners.

Similarly, no one today is accusing the US authorities of using foreign exchange intervention to raise the value of the dollar. Rather, the complaint revolves around the fact that the current interest-rate increases by the Federal Reserve are attracting capital inflows to the US and strengthening the US currency, leading to higher international interest rates and thus keeping global growth below its potential.

Fears of competitive devaluation are not without historical precedents, most notably in the 1930s, when major powers devalued their currencies against gold and thus against each other. But is there also precedent for competitive valuation?

Some observers have claimed that the early 1980s provided just such antecedents. When the Federal Reserve, led by Paul Volcker, decided to raise interest rates sharply to combat inflation, he knew that the appreciation of the dollar would help him in this task. But the corresponding depreciation of the currencies of US trading partners exacerbated their inflation rates and forced them to raise interest rates as well.

The most likely victims of today's euro appreciation are not the other big rich countries, but the emerging and developing economies. Many of them have large dollar-denominated debt, which has been exacerbated by the fiscal spending required to combat the COVID-19 pandemic. When the value of the dollar rises, the costs of debt servicing in local currencies increase. The combination of rising global interest rates and a stronger dollar could trigger debt crises, as happened in Mexico in 1982 and 1994.

But not all fears of competitive currency appreciation are justified or worth reforming the international currency system. Unlike most central banks, the Bank of Japan maintained a very loose monetary policy throughout the past year, continuing its long-running campaign to increase growth and inflation. So, while the Federal Reserve is raising interest rates in an attempt to slow the rate hike in the US, Japanese interest rates are still zero or less. As we expected, the widening interest rate differential has caused the yen to depreciate by about 15% against the dollar over the past year.

On the whole, such a large change in the exchange rate of the dollar against the yen is not a real problem. It pushed prices up in Japan while putting pressure on inflation in the United States. This is what both countries have been striving to achieve. Floating currencies allow each country to pursue monetary policy that suits its own circumstances.

But with high global inflation likely to persist for some time, the odds of counter-currency wars rise. Instead of racing to the bottom in the foreign-exchange market, we may see a rush to the top – and the poorest countries are likely to suffer the most in the process.   LINK

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

Samson:  Oil continues to rise, recording 123 dollars a barrel

31st May, 2022

Crude oil prices rose today, Tuesday, after the European Union agreed to reduce oil imports from Russia by the end of 2022.

The decision raised supply fears amid increased demand ahead of the peak summer driving season in the United States and Europe.

Brent crude futures for July were at $1.45 to $123.20 a barrel at 04:40 GMT. US West Texas Intermediate (WTI) crude futures were trading at $118.49 a barrel, up $3.42 from Friday's close. LINK

Tivon and KTFA Members on the "Emergency Food Security Law " 5-31-2022

KTFA::

TIVON:  Listening to the call (Monday Night KTFA CC) I presume given that both the Food Security Law & The 2022 Budget Law share a rate that can be allocated to areas of projects and investments by tapping into the savings/reserves once the F.S.L. is voted on can utilize or disseminate the Ration Cards among the citizens. As both are considered by Mazhar legitimate legislation. 

And they the citizens can receive "Purchasing Power" prior to the government being seated since it was stated it (FSL) can hold them over until the 2022 Budget is open.

 If I am correct in that assessment I anticipate that a final vote of the F.S.L. will be the catalyst to reinstate the exchange rate even before the formation of the government is what I take from the information as of late.

Tivon Cont….Why? Because a parliament member commented on why they were willing to forego the 2022 Budget temporarily all together if they pass the F.S.L. so the citizens can afford basic necessities while they figure out who will be a part of the government.

So with that said I personally expect that a rare should be revealed shortly after the session tomorrow when they pass the F.S.L.. If anyone disagrees please tell me what's your perspective on this topic. Because aren't they using the surplus from oil to finance both Food Security & The 2022 Budget?

I remember the three main areas were...
Food Security
Poor Classes
Investment Projects

So with that said and how tomorrow will shape up could be two separate events that collide or conjoin concurrently in unison one action towards releasing a new exchange rate once the 2nd/3rd Reading is done on the F.S.L..

This is what gives it it's excitement and anticipation as to the results of the session tomorrow. They found a way to work around the political blockage that Al-Zamili stated was not causing obstruction to get things done in a legislative manner that brought us to where we are now.

I do not see how this week is shaping up to slow down anything forthcoming in regards to the entitlements the citizens have waited for long enough. IMO  

~~~~~~~~~~~~

Samson:  Finance Committee: The proposal for the emergency support law will be passed by a majority

30th May, 2022

Monday, the Parliamentary Finance Committee confirmed that the emergency support law will be passed a week after the second reading, while noting that the Ministry of Health requested the allocation of 1.3 trillion dinars to its budget within the law.

A member of the committee, Sattar al-Atabi, said, "The committee hosted stakeholders regarding the proposal for the emergency support law," noting that "the members of the committee are determined to discuss the provisions of the law until it is properly matured." He added, "We are trying to pass the law within a ceiling of 25 trillion dinars," noting that "there are no obstacles or impediments regarding the law."

He continued, "The Ministry of Health requested the allocation of 1.3 trillion dinars to its budget within the emergency support law," noting that "the law will be presented tomorrow for the second reading and will be voted on a week after the completion of the second reading."

And he indicated that "the law will be passed by a majority of two-thirds of the members of the House of Representatives," warning "some political parties against putting the law into the political conflict."

LINK

TIVON:  The Ministry of Health requested the allocation of 1.3 trillion dinars to its budget within the law. Very key statement made here as you look back on the multiple articles stating Food Security Law & 2022 Budget are synonymous.

 The request should imply that the allocations will also go towards the Ration Cards as well which is VISA/Master Card which would require a rate if citizens are looking to afford food, products, and services due to the high prices if I am not wrong on the assessment given that all of this will come from the Oil surplus?

 But do they have to release the exchange rate to utilize that surplus is the primary question I hope can be answered soon now that it is a week out from passing.

Because after all isn't this "The Big Cheese" in terms of funds avaliable within the law? What investment projects in Iraq that will generate income? If so shouldn't this income come with "Purchasing Power"?

Aren't certain members of the government looking to pass laws without the formation of the government? Would the Food Security Law qualify? If so why not the 2022 Budget which Al-Kazemi could have legal grounds to pass if granted the authority. Oil & Gas Law should also go down the same route.    IMO

Samson:  Parliamentary Finance announces the allocation of 10 trillion dinars for the development of the regions within the emergency support

31st May, 2022

Today, Tuesday, the Parliamentary Finance Committee announced the allocation of 10 trillion dinars for the development of the regions within the law of emergency support for food security and development

Committee member Ikhlas al-Dulaimi told the Iraqi News Agency (INA): "The committee hosted the committees of the regions and the migration and the displaced to find out the needs of the provinces, regions and the displaced," noting that "the emergency food security support law allocated 10 trillion dinars for the development of the regions, except for the petrodollar

She added that "the law did not allocate any funds to immigration and the displaced," stressing the need to "find financial allocations to the displaced within the emergency support law because the camps suffer from major problems

And she added, "The law can change completely or some of its parts after the second reading, and there are observations made by committees and specialists," explaining that the law is preliminary and will be discussed and amended during the upcoming sessions 

~~~~~~~~~~~~~ 

TIVON

1.) Will the "Food Security Law" create "Purchasing Power" for citizens?

2.) Will the rate change occur once the F.S.L. is voted on and passed?

3.) Do we have to wait for the Oil & Gas Law to see a new exchange rate?

4.) Do we have to wait until the 2022 Budget is open to see the reinstatement of the Dinar?

5.) Do we have to wait for the formation of the GOI in order to see the release of the new small category notes?

6.) Do we have to wait until the ATM machines are set up locally/Internationally in order to see the rate on the Forex Market?

7.) Is Iraq waiting for the Gold Standard so they can peg the Dinar to precious metals? 

These are the lingering questions that some ponder about in the midst of all of the political jargon as we march towards another month without none of the above occurring thus far. How close are we really?  The summer is now upon us as the saga of the Iraqi Dinar continues. What will be in store for us this coming June?    IMO

~~~~~~~~~~

GodLover:  I will try to answer these questions imo

1) No imo. The FSL was created to be used to give their citizens immediate relief until the 2022 budget is passed & opened. The FSL is synonymous (similar) to the 2022 budget, because it has a budget of it's own. As well, the FSL has money set aside from oil rise surplus to fund the FSL. I think the FSL is good for the citizens in the short term, but it takes away from the 2022 budget.
2) Again, no, I don't think that is realistic.
3) I would hope the oil & gas law gets worked out in time prior to the 2022 budget opening. As far as it being required prior to a rate change, it would certainly be beneficial to their citizens.
4) Yes imo. The FSL & the 2022 budget are separate animals, but are similar (synonymous) because they both have a budget.
5) Certainly a new GOI is needed imo. Or for the current to be given full authority. As far as the NSCN's, I would think they would be released simultaneously with the MR or shortly after. Prior to the monetary reforms release would be pointless.
6) Honestly, I would think the ATM's would not be an issue
7) As I have said before, when Iraq is ready.....it will happen. 

~~~~~~~~~~~

TIVON:  I couldn't post my last few questions as this last one is the wildcard given it hasn't been defined as a priority just yet. And that is the "Citizens Entitlements".

 What falls under this? Because this is also apart of the Food Security Law. Is it the Oil & Gas? Purchasing Power? Because this puts all those other questions in perspective. The final vote is a week out. What will they add to the law that will warrant a rate change that is conducive to the entitlements the citizens are seeking?

They stated that  The House of Representatives assessed the criticality of the financial situation and the need to provide the necessary funding to address basic expenses and aspects that directly affect the livelihood of the citizen and the food basket, support for strategic storage and the poor classes, in addition to paying the dues of farmers and farmers in order to support the local product and reduce dependence.

What would this require if they are speaking on the livelihood of the citizens? What is the one thing that can produce a daily advance towards a stable life for an Iraqi? The Oil & Gas Law right? Well if that is a yes this would fall under the Food Security Law.

Didn't they state they are trying to pass laws without a formation of government? Because at this point the formation of a government is a formality and not a requirement. Because some in parliament and the House of Representatives do not see it as a priority to get things done on behalf of the citizens.

The Finance Committee is looking to revitalize the entire economy with the FSL. How can they begin to do this without a 2022 Budget? Someone seems intent on using the FSL to accomplish many things. Including a rate change.  IMO.

~~~~~~~~~~~

Samson:  Deputy: We are studying passing laws without waiting for the formation of the government

31st May, 2022

A member of the "Save the Homeland" coalition, MP Ahmed Mazhar al-Jubouri, said on Tuesday that alliances are still suspended and dialogues are "frozen", and there is nothing new in light of the political blockage.

Al-Jubouri added in an interview with the official "Al-Sabah" newspaper, which was followed by Mawazine News, "In parliament, we have started studying options for passing laws without waiting for the formation of the government."

He explained, "If the problem is to dissolve parliament, we are ready for the constitutional text, and the parliament must dissolve itself, and thus represent the will of the Iraqis, and when there are real popular demands, we are ready to go in this direction."

Al-Jubouri indicated that "the Alliance to Save a Homeland was determined from the first moment to achieve a national project that differs from the old projects, or to start an initiative that there would be a majority government plus a constructive national opposition, not a destructive one."

He continued, "Therefore, if the Alliance to Save a Homeland is on one side, it is not a problem, because it aspires to be a political project and not an electoral project for the president of the republic or the formation of the government."  LINK

TIVON:  Could they be referring to the "Oil & Gas Law"? Hmmmmmm. Because I am positive you will have antagonist forces stiff arming this movement to get the HCL going. Hopefully this is not another fight we have to sit through as we wait out a week for the Food Security Law to pass.  IMO

Tuesday AM Iraq Economy News Highlights 5-31-22

Tuesday AM Iraq Economy News Highlights 5-31-22

What Will Happen In Iraq In 2050? .. The Middle Eastern Threat That No One Talks About

Posted On2022-05-31 By Sotaliraq   The Israeli newspaper, Haaretz, warned against the world’s ignoring the phenomenon of sandstorms in the Middle East, especially in Iraq, which cause billions of dollars in economic losses and health damage to thousands of citizens, pointing out that this phenomenon is liable to increase dramatically in the coming years.

And after the newspaper pointed out in a report that sandstorms in the Middle East are ignored by the world compared to other types of natural disasters, and thus ignore their increasing effects on people's health and the region's economy.

The report compared the scenes of the storm in Iraq with the scenes known to be in the United States, saying it is as if you are in the midst of a winter storm in an American city, where cars are moving slowly in the streets, and their headlights are shining in the middle of the day, as if they are passing through a layer of snow, but he adds that the place He is already in Baghdad amid temperatures exceeding 30 degrees Celsius, and that the streets were not covered by the white color of snow, but rather the orange color, which is the color of sand and dust that fills the air, indicating that similar scenes were recorded in Iran, eastern Syria and most of the Gulf countries.

The report pointed out that sandstorms usually hit Iraq during the spring months.

But he added that the events of a storm are considered the tenth since the beginning of April, i.e. an average of one storm every week, explaining that it is a phenomenon that has worsened in terms of size and danger in recent years, and is expected to worsen in the coming years.

The report warned that these storms “are not just a nuisance,” as they inflict heavy health and economic costs as well. In Iraq, about a thousand people were hospitalized due to respiratory problems, and the government declared a holiday to urge people to stay home, and many airports were closed.

The report also warned that the economic and health repercussions of sandstorms have not been studied in the same way as studies identifying the effects of other natural disasters.

The report quoted the academic at Oxford University Nick Middleton, who co-authored one of the first research studies on this issue, that the costs are very high, explaining that “dust storms can affect tens of millions of people, and their economic impact amounts to hundreds of millions of dollars.”

Middleton said that the link between health problems and sandstorms is not always clear, but it may be "enormous", noting that "there are strong links between dusty days and respiratory problems and some heart diseases."

However, one of the few estimates available on the economic costs of dust storms, from the World Bank, which spoke in 2019, stated that the global cost of dust and sand storms increased by 63% between 1990 and 2013 to reach $3.6 trillion. As for the Middle East and North Africa, it increased by an even greater rate of 123%, to reach $141 billion.

The "Haaretz" report indicated that this estimate reflects the losses incurred to the economy as a result of premature deaths due to excessive exposure to dust, noting that Iraq, for example,

Since 2013, it has suffered from an estimated 10,400 premature deaths due to dust, which imposed losses on the economy of about $15 billion, or 2.9% of GDP.

orange warning

He added that among the direct costs, there are losses due to closed airports, loss of crops and production stops, in addition to the holidays announced by the government, which the World Bank estimated at about 13 billion dollars, which means that the total costs of losses in the Middle East and North Africa region from sandstorms exceed 150 billion. dollars annually.

The report confirmed that these costs are heading towards increasing, noting that the Iraqi Ministry of Environment monitored 122 dust storms and 283 dusty days during the year 2013 alone, but an official in the Ministry of Environment warned during the past month that Iraq may suffer from 272 days of storms. hourly averaged over the next two decades, which could increase to more than 300 days by 2050.

In his research paper, Middleton documented, under the title “The Comprehensive Causes and Social and Economic Consequences of a Severe Dust Storm in the Middle East,” the repercussions of a particularly large sandstorm in early April 2015, which hit an area of ​​10 million square kilometers, including Iraq, Iran and the Gulf, It extended in the east to India and even to the Red Sea in the west.

The report pointed out that the storm forced officials to close schools in Qatar and parts of Saudi Arabia, which declared a holiday for workers, disrupted Saudi and Iranian ports, and forced airports in seven countries to delay, reroute or cancel flights. Construction work has also stopped in open spaces in the UAE, and Abu Dhabi canceled the Desert Challenge Rally because visibility was almost zero, and even solar power plants stopped working due to the accumulation of a lot of dust on the power panels.

According to that study, traffic accidents have increased in Saudi Arabia, Qatar and the UAE, and cases of respiratory patients in hospitals have increased.

The report pointed out that Israel is not immune to dust storms, although it does not suffer from any of the same severe pattern as Iraq and other neighboring countries.

The report explained; That the phenomenon of climate change is responsible for the increase in these extreme weather phenomena, but experts say that climate change is only one of the factors, and it will nonetheless have a greater impact in the coming years because it causes an increase in desertification and more severe drought, noting that the sources of dust and sand storms It is mainly due to natural and not man-made factors, but these factors are exacerbated by human activity.

The report continued, explaining that poor land management causes the soil to become unprotected after the crops are harvested, and wars have caused farmers to abandon their fields, creating large areas of land where the winds can easily carry dust. Population growth and urban expansion also reduce the areas that previously housed plants that provide protection for the soil.

In addition, large bodies of water have dried up, such as the Aral Sea between Kazakhstan and Uzbekistan, and Lake Urmia in Iran, which was once the largest lake in the Middle East. Dam-building projects have also caused draining of rivers and reduced water flows to the Tigris and Euphrates rivers. Saddam Hussein even played a role in draining the marsh areas in the south. Some scientists also believe that the weather phenomenon of La Niña has contributed to the recent rise in dust storms in the Middle East.

The report quoted a researcher at the Middle East Institute in Washington, Panfasha Kinosh, who doubted that Middle Eastern governments would be willing to make a great effort to address this problem, explaining that “sand and dust storms are often viewed in the Gulf region as natural phenomena that cannot be controlled.” To a large extent it.”

The report concluded by noting that governments in the region have taken some measures, as Saudi Crown Prince Mohammed bin Salman pledged to plant 10 billion trees in Saudi Arabia and an additional 40 billion trees in the region in order to combat sandstorms and desertification. In 2016, an institute in the UAE launched a dust storm forecasting system that countries in the region can use to prepare for major storms.

But Middleton admits that even if there is cooperation between governments, fighting sandstorms will not be easy, but he added that they can at least mitigate their effects and address the local factors that make sandstorms worse.   LINK

The Political Struggle Within Parliament Deepens The Financial Crisis And Disrupts Projects

Posted On2022-05-31 By Sotaliraq   Baghdad/ Saif Abdullah   The political conflict between the coordination framework and the National Salvation Alliance, over the formation of the new Iraqi government, complicated the approval of the draft law on the country’s general federal budget for the year 2022, despite the country’s need to fund important service projects in the electricity and food sectors and opening the door for appointments for new graduates, which prompted the government of the President of the Council The outgoing minister, Mustafa Al-Kazemi, to prepare a draft law on emergency support for food security and development, through the Ministry of Finance, and send it to Parliament for a vote.

The political division between the two alliances has disrupted the emergency support bill, as it is a door to corruption due to the funds allocated to the project, which were estimated at more than 35 trillion Iraqi dinars (24.1 billion dollars), which reinforced citizens’ fears of entering the country into a suffocating economic crisis and disrupting service projects.

Exacerbation of unemployment and poverty rates. On the other hand, the Federal Court entered the crisis line. On May 15, 2022, it issued a ruling to cancel the Food Security Law sent by the Council of Ministers to the House of Representatives after a lawsuit submitted by Representative Basem Khashan.

In an indirect criticism of the Federal Court’s decision, Al-Kazemi indicated that “the failure to achieve all these necessities is a factor that obstructs the government’s role in conducting the daily matters that fall into the hands of providing the requirements of the Iraqi people, protecting the poorest groups, providing services and electricity, and limiting the rise in global prices.” .

For her part, a member of the House of Representatives, Suhaila Al-Sultani, confirmed that the federal budget for the year 2022 includes an item for the regions and governorates, and its delay will cause delays and delays for service projects in the governorates, especially appointments and fixing contracts and those present.

Al-Sultani said in an interview with (Al-Mada), that “the absence of a budget law will disrupt the economy of the governorates, especially since the southern and central governorates need strong infrastructure, and the approval of the budget must be done quickly to improve the economies of those governorates,” noting that “the current government has taken many laws. And the procedures are outside its powers as it is a conduct of business, which is what the Federal Court worked to respond to.”

In addition, the economic expert, Nabil Jabbar, explains that “the projects included in the regional development projects for the governorates will not be affected by the absence of a budget law or any other law, since the disbursement mechanisms for projects have been addressed in the first amendment to the Financial Management Law in accordance with Article 12 Second.”

And he indicated that "the absence of the budget does not allow the inclusion of new projects or the referral of new projects," noting that "the programs to reduce unemployment are not exclusively linked to the budget law, providing a business environment, loans, initiatives, commercial regulation, and dozens of factors that are not related to the budget law or any other Alternative law.

He explained that "Iraq has suffered from a lack of investment budgets from 2014 to 2020, with the exception of part of the investment that was implemented in 2019."

[size=45]In the midst of this, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, told Al-Mada that “the House of Representatives should have taken over the passage of the general budget law, but the so-called political blockage has disrupted the country’s annual plans with the hope of restructuring the government according to the constitutional contexts in the circumstances.”

And under the pressure of the high cost of living, it was relied on accepting the emergency food security and development bill through the government as an alternative to the general budget to give a longer political opportunity until the consensus reached its climax in understanding the future of the executive authority, as this shows.

He added, "Despite the foregoing, the preparation of the draft federal general budget law for the year 2022 was carried out in accordance with the effective Financial Management Law No. 6 of 2019, the amended, as the legal timings require the preparation of the draft budget law on the basis of the state of the economy and financial expectations for the next three years, as stated.

In Article 3 / first of the above law (regarding budget preparation) and based on the text of Article 6 of the same law above, the preparation of estimates took place in July 2021, and they should have been submitted to the Council of Ministers in September after voting on them to be referred to the House of Representatives in order to legislate its law.

However, the dilemma occurred in the delay in proceeding with the draft budget law, which came as a result of dissolving the House of Representatives in preparation for the 10-10-2021 elections.

He added, "Depriving the country of legislating the general budget 2022, and we are approaching the middle of the year because of the interpretation of what the caretaker government's work is, is more harmful than not accepting the passage of the budget bill through the government that is still working...and it is the same government that the current parliament has accepted." To pass the emergency food security law between its corridors.”   LINK

The Dollar Depreciates Against The Dinar

Economie| 09:31 - 31/05/2022  Baghdad - Mawazine News   The dollar exchange rates witnessed, today, Tuesday, a decrease in the Iraqi Stock Exchange.  Selling price: 148,400 dinars per 100 dollars, buying price: 148,300 dinars per 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=194984

For The Fourth Month, Iraq Is Among The Largest Exporters Of Oil To South Korea

Shafaq News/ The South Korean Customs Administration revealed, on Tuesday, that Iraq ranked fourth and for the fourth consecutive month among the largest oil exporting countries to South Korea during the month of April of 2022.

The administration said in its statistics, seen by Shafak News Agency, that "Iraq came as the fourth largest oil exporter to South Korea during the month of April, at 6.488 million barrels, up by 2.1% from last March, in which exports amounted to 6.353 million barrels, up by 2.5% from The same period in 2021, in which exports amounted to 6.328 million barrels.

She added that "the quantity of Iraqi crude oil exported to South Korea for the first four months of January, February, March and April 2022 amounted to 22.503 million barrels, an increase of 12.9 percent over the same period in 2021, when these quantities amounted to 19.940 million barrels."

And they indicated that "Saudi Arabia ranked first as the largest oil exporter to South Korea last April, with a quantity of 26.691 million barrels, followed by the United States of America, with a quantity of 11.371 million barrels, and then Kuwait came third, with a quantity of 10.679 million barrels, and then the UAE came fifth, with a quantity of 5.963 million barrels." .

And she added, "Kazakhstan came sixth with a quantity of 5.280 million barrels, Russia came seventh with a quantity of 4.333 million barrels, Qatar came eighth with a quantity of 3.419 million barrels, then Mexico came ninth with a quantity of 2.899 million barrels, and finally Mexico came tenth with a quantity of 2.069 million barrels."  LINK

Parliamentary Integrity Proposes A Way To Recover The Dowry Money

The Parliamentary Integrity Committee submitted a proposal, which represented a new mechanism for recovering money smuggled outside the country.

A member of the Parliamentary Integrity Committee, Ahmed Al-Rubaie, suggested that the government contract with solid international institutions to move in international courts to recover the money in return for a percentage of the recovered money. He stressed, that several factors contributed to closing some files of corruption, looting public money, delaying and obstructing the recovery process, pointing out that there are many pressure papers owned by the Iraqi government that can be used to recover Iraqi funds.  LINK

Abdullah Calls For Border Control And Coordination Between The Federal Government And The Peshmerga In The "Soft" Areas

Shafaq News / The Second Deputy Speaker of the House of Representatives, Sheikha Wan Abdullah, called today, Monday, to complete cooperation and coordination between the federal forces and the Peshmerga to enhance security in soft areas, while stressing the importance of controlling the borders to prevent the infiltration of terrorists and limit the drug trade.

The media office of the second deputy said in a statement received by Shafaq News Agency, "The Deputy Speaker of the Iraqi Parliament, Sheikha Wan Abdullah, visited the Joint Operations Command, and he was received by the Deputy Commander of Joint Operations, First Lieutenant General Abdul Amir Al-Shammari, and the developments of the security and military conditions in general and the efforts of the armed forces were reviewed. In addition to seizing the land to address security violations and eliminate the remaining ISIS hideouts, the necessary measures to complete the formation of Brigade 20 and its deployment in soft areas to enhance security were discussed.

The statement added that "the deputy chairman of the council praised the role of joint operations," while stressing "the importance of controlling the borders to prevent the infiltration of terrorists, reduce the drug trade and prosecute criminals."

Abdullah indicated, according to the statement, "the need to complete cooperation and coordination between the federal military forces and the Peshmerga forces and fill the voids."

The statement continued, "The security situation in Sinjar and ways to restore stability and provide services to the people of the judiciary were discussed, and a reassessment of tasks and duties in line with the magnitude of the challenges," stressing the parliament's support for "military and security institutions with legislation and laws and the provision of financial allocations to the army in order to develop its capabilities." to carry out its duties in maintaining security and enforcing the rule of law.   LINK

Iraqi News Tuesday Morning 5-31-22

Iraqi News Tuesday Morning 5-31-22

TLM724 Administrator BondLady’s Corner

Parliamentary Integrity: Most Of The Corruption Funds Go To Banks Outside Iraq

Money and business  A member of the Parliamentary Integrity Committee, Ahmed Taha Al-Rubaie, confirmed, on Tuesday, that most of the corruption funds go to investments or banks outside Iraq, noting that political courtesies, personal relations and interests with some parties contributed to closing some corruption files and looting public money .

Al-Rubaie said in a television interview that "when conducting referendums in accordance with international public standards, Iraq is mentioned at the forefront of the most corrupt countries, and that most of this money goes to investments or banks outside Iraq ."

He pointed out that "despite the complexity of the routine in recovering these funds, the government and the Ministry of Foreign Affairs, which represents foreign policy, as well as the administrative and executive aspect related to the Integrity Commission, must find international coordination to prosecute the corrupt and recover the looted funds outside Iraq ."

And he indicated that "there are a lot of pressure papers on the countries owned by the Iraqi government and the Integrity Commission that can be used, especially since many of these corrupt people are diagnosed and their accounts are known in foreign banks and can be used as a pressure card through trade and economic relations with these countries to recover Iraqi funds. This matter needs a real will on the part of the state .”

Al-Rubaie suggested that the government “contract with discreet international institutions to move in international courts for the purpose of recovering these funds in exchange for a percentage of the recovered funds,” stressing that “political courtesies, personal relations and interests with some parties, contributed to closing some files of corruption and looting public money or contributed to delaying Recovery and obstruction of official procedures and others.  Views 128  Added 05/31/2022 - 11:07 AM Update 05/31/2022 - 5:35 PM https://economy-news.net/content.php?id=28258

Al-Husseini: Cutting the link between Baghdad and the region disrupted the activation of the “oil and gas” law

Economie  Monday, 30 May 2022 10:07 PM National News Center / Special   The economic expert, Ahmed Al-Husseini, confirmed today, Monday, that the general budget depends on oil imports by 96%, indicating the importance of activating the oil and gas law to ensure that the financial needs of the public budget are met.

Al-Husseini said in an interview with the "National News Center", "The failure to activate the oil and gas law is due to political reasons more than economic factors, especially with the presence of political intersections between Baghdad and the Kurdistan region."

He added that "the Kurdistan region owes Baghdad huge sums of oil imports since the adoption of the oil and gas law in 2007 until now," stressing that "the region is obligated to pay these funds to Baghdad, especially after the decision of the Federal Court."

And he indicated that "not activating the oil and gas law will cost Iraq huge sums and will make the process of following up on the production and export of crude oil and financial revenues very difficult, which calls on the Parliament and the competent authorities to speed up the process of activating it."

https://nnciraq.com/131742/

Iraq Moves To Supply The European Market With Oil

Sumo  Energy Economy News – Baghdad   The Oil Marketing Company (SOMO) revealed, on Tuesday, that France approached the possibility of Iraq to supply the European market with oil

The company's general manager, Alaa Al-Yasiri, said during his hosting of the Parliamentary Oil, Gas and Natural Resources Committee, according to a statement reported by the official news agency, that "SOMO is the only company responsible for exporting oil and importing its derivatives," explaining that "the marketing company is a middle link between the Ministry of Oil." and the beneficiaries of the oil.

He stressed, "The approach of the French authorities concerned with the possibility of Iraq supplying the European market with oil."

He added that "Iraq is committed to the decisions of OPEC," stressing "his company's interest in Indian and Chinese government oil companies because it deals with a long-term contract and the company cannot lose its customers."

He pointed out that "the targets of Iraqi crude oil are oil refineries," expressing "his hope that the Parliamentary Energy Committee will support the company's work."

58 . views  Added 05/31/2022 - 3:53 PM   Update 05/31/2022 - 5:57 PM

https://economy-news.net/content.php?id=28264

Oil Prices Rise, Brent Crude Exceeds $ 123 A Barrel

Economie| 08:13 - 31/05/2022   Follow-up - Mawazine News: Oil prices recorded, on Tuesday, a rise to their highest level in two months, after the European Union decided to ban 90% of Russian oil as part of a meeting related to the sixth package of sanctions against Moscow due to the war on Ukraine.

Brent crude futures rose more than a dollar to $123 a barrel, while US West Texas Intermediate crude futures jumped a dollar to $116.10 a barrel, continuing strong gains made last week.

The ban on Russian oil will lead to a shortage in the crude oil market, which is already suffering from supply pressures amid increased demand for gasoline, diesel and jet fuel ahead of the peak summer demand season in the United States and Europe.    https://www.mawazin.net/Details.aspx?jimare=194975

Investment Reveals An Initiative To Revive The Industrial Sector In Anbar

Economie| 03:30 - 31/05/2022  Anbar - Mawazine News, Chairman of the National Investment Authority Suha Al-Najjar revealed, on Tuesday, an initiative to revive the industrial sector in Anbar Governorate and make it a springboard for industrial investment projects in the country.

Al-Najjar told the official news agency, "Today, during our tour in Anbar Governorate, we saw various types of projects, including projects to establish central markets (malls), housing and other health projects. We also saw hotel projects such as the Ramadi Hotel, which is one of the largest hotels in terms of quality. And the number of rooms, in Iraq.

She added, "There is great interest in the province in general in terms of infrastructure, hygiene, organization, traffic lights and green areas," noting that "there is a clear effort in Anbar, which has resulted in providing an attractive environment for investors, in addition to the facilities provided."

Al-Najjar affirmed, "there is great cooperation between the province and investors at the level of the province's reality," noting that "the most prominent feature of Anbar's projects is their huge size, high completion rates, and solid and distinguished quality."

Al-Najjar continued, "Because of the abundance of raw materials in Anbar Governorate and the presence of all the ingredients for the success of the industry, the authority will have an initiative with the Anbar Investment Commission to revive the industrial sector in Anbar to be the starting point for industrial investment projects in the country." Ended 29/R77    https://www.mawazin.net/Details.aspx?jimare=195015

An Ambitious Plan By The World Bank To Push Hundreds Of Iraqi Women Towards Economic Progress

Economie  Tue, May 31, 2022 10:39 AM  National News Center / Special  The head of the Baghdad Chamber of Commerce, Firas Al-Hamdani, confirmed today, Tuesday, that the World Bank, in cooperation with economic organizations and the Chamber of Commerce, has a view to engaging hundreds of businesswomen to develop their capabilities.

Al-Hamdani said in a statement to the "National News Center", "There is a clear interest in supporting and participating businesswomen in international conferences and forums, which has produced effective economic figures with great chances of success, such as the Managing Director of the International Islamic Bank, Suhad Kafaei, and the General Manager of Al-Safa Company for Canning Iraqi Dates, Huda Al-Azzawi." .

And he indicated that "the World Bank, in partnership with the Chamber of Commerce and economic organizations, has an expanded view of engaging more than 450 women to develop and develop their capabilities."   https://nnciraq.com/131784/

The Dollar Depreciates Against The Dinar

Economie| 09:31 - 31/05/2022 Baghdad - Mawazine News  The dollar exchange rates witnessed, today, Tuesday, a decrease in the Iraqi Stock Exchange.  Selling price: 148,400 dinars per 100 dollars,  buying price: 148,300 dinars per 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=194984

Central Bank: Visa International Has Started Its Work In Iraq

Economie| 08:22 - 30/05/2022   Baghdad - Mawazine News   The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, received, on Monday, a delegation from the International Visa Company, where the company started the first steps of its work in Iraq.

According to a statement by the bank, Mawazine News received a copy of it, the governor confirmed, on the sidelines of his meeting with the delegation, that the Central Bank of Iraq will support the company’s steps in its work in Iraq because of its importance in attracting sober international expertise and the need to encourage electronic payments and enhance financial inclusion.

He added that the Central Bank of Iraq attaches great importance to developing the banking sector and keeps pace with the latest developments, and we will provide the necessary support for that. Ended 29/R77 https://www.mawazin.net/Details.aspx?jimare=194948

The International Company (Visa) Begins Its Work In Iraq, And The Central Bank Promises To Support It

Money and business  Economy News – Baghdad The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, confirmed, on Monday, that the bank will support the steps of the International Visa Company in its work in Iraq.

The bank's media office said in a statement, "The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, received today a delegation from the International Visa Company, where the company started the first steps of its work in Iraq."

The Governor of the Central Bank stressed, "The Central Bank of Iraq will support the company's steps in its work in Iraq because of its importance in attracting sober international expertise and the need to encourage electronic payments and enhance financial inclusion."

He added, "The Central Bank of Iraq pays great attention to developing the banking sector and keeps pace with the latest developments, and we will provide the necessary support for that."

Views 1232  Added 05/30/2022 - 8:27 PM  Update 05/31/2022 - 5:59 PM

https://economy-news.net/content.php?id=28254

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

https://www.bondladyscorner.com/

"Coffee With MarkZ" Tuesday Morning Chat 5-31-2022

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ Tuesday Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Last day of May……..Lets all pray it’s a fabulous one.

Member: We’re definitely close because a lot activity “behind the scenes”

Member: Make Iraq Great Again. So AMERICA will be BETTER

Member:  Good Morning Patriots! It's a good day to RV! Are "They" ready to pull the trigger?

MZ: There are a couple of key update meetings scheduled for Reno this afternoon.  I should have an update by this evening…..

MZ: it has been relatively quiet  but that doesn’t mean that there isn’t a whole lot happening behind the scenes. There is still great expectations for today.

MZ: Redemption folks are very confident that this appears to be our week.

MZ: In Iraq there are quite a few articles dropping and they are all about passing the budget,seating the government and Food Security.  They are in a mad dash to raise the value and remove the zeros…there has been constant and nonstop news coming out of Iraq. .

MZ: Folks in Zurich are still sitting on their hands…..no bond movement over the weekend.

Member: What are your thoughts on “no movement”

MZ: I think the movement is all “behind the scenes” over the weekend. That’s why I am anxiously waiting for updates this afternoon on what did occur over the weekend. Was there progress?  Were things put in place?  To me this is the calm before the storm….and they have been very effective at shutting down leaks.

MZ: there is still plenty of folks being fed misinformation, smoke and misdirection ….but,  they are very good at shutting down real information leaks as to where we are at right now.

Member: Simon says all banks compliant and ready to go!!! Great News!!!

Member:  l heard all banks have the QFS ready to go. All money is there and not allowed to touch it

Member:  The elders have been in Reno several times this year and before giving deadlines that were not met. They want it done

Member: I read the SWIFT system is being switched over to a digital model that will use central bank CBDCs. BRICS agreement will move a huge % of the world outside of SWIFT. The petro dollar is being replaced.

Member: I asked the mgr at B of A about the QFS and he said just waiting for an email of phone call.

Member: I just received an email that my companys federal credit union will be shut down June 1st for conversion to a new banking software system.

MZ: Article “ Czech Republic to join Poland and Hungary in Central European gold Rush”  These people are trying to bring stability to their economies. They are looking at what Russia did…who has stability in their domestic economy because they have backed it by assets….

Member: The RV is waiting on USA to get it done!

Member:  Maybe that is why they will let Iraq RV...the cabal needs more money?

Member: Yes…if Iraq goes alone….i think the cabal will be able to make a lot of money and cause more evil in the world…….imo…still hope we get the whole GCR

Member: I am praying this is the week for the “Jubilee” 

MZ: So am I

Member: The queens 70 year Jubilee kicks off on Friday and she will have been the queen for 70 years on Sunday. Let’s hope she does not make it and we get our JUBILEE!!

Member: I hope we do not have to be in a group to exchange

MZ: that is more fear mongering…..do not be worried about that.

Member:  Question: What was different when Kuwaits currency RVed as far as domestic conditions?

Member: Politics and the deep state is the difference…..imo

Member: Kuwait still had terrible conditions when they RV’d…..Iraq is in a lot better shape…..Recaps posted the Kuwait article over the weekend that told about what happened when they RV’d

Member: MarkZ…this wait been too long and you almost forget what you waiting for …thanks for being there every day and for your enthusiasm and your positive outlook

Member: Everyone have a great day….looking forward to tonight’s podcast

Dr. Rich joins the stream at the end….please listen to the replay for all his information.

OKIE HAS ONGOING SERIOUS HEALTH ISSUES. OUR COMMUNITY IS THE ONLY HELP HE CURRENTLY HAS - HELP IF YOU CAN- THIS IS THE ONLY LINK TO SUPPORT OKIE.  https://www.paypal.com/paypalme/SeedsofWisdomTeam

OKIE is still very ill and needs our help. Salty has a NEW SOW Humanitarian Fund account just for Okie Every penny goes to Okie to help with Medical costs. Here it is: http://paypal.me/OkieTeam

No Paypal acct needed on this link: https://www.paypal.com/donate?hosted_button_id=J6BM9Z7ZU5RDW

IF THE INTERNET GOES DOWN Emergency number… (712) 770-5028 Code:648989 Playback number (712) 770-5066

IF MARK LOSES THE ABILITY “TO STREAM LIVE"...PLEASE TAKE NOTE OF THE "NEW" EMERGENCY NUMBER EFFECTIVE DAY: (712) 770-5028 Code: 648989 Playback number (712) 770-5055 or 712-770-5066.

The next stream is tonight at 7 pm est…..unless.

MARK HAS BEEN INVOLVED IN THIS FOR MANY YEARS FROM THE HISTORY AND MADE MANY CONTACTS WORLDWIDE. HE RESPECTS EACH OF THEM AND PROTECTS THEIR PRIVACY. HE VERIFIES INFORMATION BEFORE HE SHARES YET THINGS CHANGE AND IT IS NOT IN HIS CONTROL.

THE INFORMATION PROVIDED IN THE STREAM IS IN MARKZ OPINION - INFORMATION PROVIDED IS BY VETTED CONTACTS - INFORMATION CAN AND MAY CHANGE AT ANY TIME WITH OR WITHOUT NOTICE

MZ: Zim payouts I hear will be traunched…..a structured payout over time…….What is a traunch?   https://www.investopedia.com/terms/t/traunch.asp

MZ:  JFK Secret Societies Speech in case we forgot   https://www.youtube.com/watch?v=ItOPg2l7-t0

JFK to 911 Everything Is A Rich Man's Trick https://www.youtube.com/watch?v=8ObvK4NR_LI&has_verified=1&bpctr=1579044401

Your straw man (Strawman) is an artificial person http://freedom-school.com/aware/your-straw-man-is-an-artificial-person.html

MZ: Video on PP’s and Farm claims: https://www.youtube.com/watch?v=sAL0exvL45Y

Mod:  Dr Shabibi answering questions https://www.youtube.com/watch?v=ol8wve53-ME

MZ: Watch the Video “The end of the road” by Monkey films on Amazon Prime….End of the Road: https://tubitv.com/movies/451883/end_of_the_road

You can share links like these one's to those who don't believe: theoriginalmarkz: https://www.slideshare.net/ahmeddinargate/the-history-of-iraqi-dinar-exchange-rate

IF THE INTERNET GOES DOWN MARKZ NEW NUMBER Emergency number (712) 770-5028 Code:648989 Playback number (712) 770-5066

Mark Coffee and Chat …. Monday through Friday 10:00 AM EST EDT ….Chats live or recorded https://www.twitch.tv/theoriginalmarkz ONLY SPECIAL NEWS tweeted out https://twitter.com/originalmarkz

MARKZ and SALTY TOES have worked hard to build a COMMUNITY that people can trust.  You can connect with MarkZ at The Seeds of Wisdom Team Community and website.  Just visit the Seeds of Wisdom Team Website, join the Seeds of Wisdom Telegram Community, and Subscribe to receive email updates. https://seedsofwisdomteam.com/

Follow Mark on odysee ( formerly known as library) at https://odysee.com/@theoriginalmarkz:e

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=5mYCakvpoMQ

Holly, Wolverine and more.......Tuesday AM 5-31-2022

Tuesday Thoughts From Holly

Good morning roomies

Rv: we are on an any moment.

 All is ready to go just waiting for some event to launch this. -Holly

Wolverine: 5-31-2022

We are at the pinnacle of this emotional roller coaster ride. I want you to lift up your vibration and spread a vast amount of energy onto this planet so that God can free us from our shackles and be able to join forces with all humanitarians of this earth and help our fellow man and tear down all these temple of evil and allow God with a mighty wind and have them evaporated from this earth.

Soon we will be facing a new earth where there will be no poverty, no injustice, no corrupt politicians, no elites like The Rothschilds, Rockefeller, Illuminate, Soros, Dictators and Pedophiles that have contaminated this planet for centuries.

We will have abundance and we will have a future and face new technology that is going to cure us from all our illnesses.

Thank you all for joining this journey.

You are all creatures of God and have been chosen to take this incredible challenge.

God bless you all :    Wolverine

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

KTFA:

Samson:  The Federal Reserve is divided in its orientations .. regarding the creation of a digital dollar?

30th May, 2022

Federal Reserve Vice Chair Lyle Brainard told House lawmakers that a US central bank digital currency could one day provide consumers with a level of security, amid the proliferation of privately issued digital assets such as stablecoins.

In the future, Brainard told the House Financial Services Committee, a central bank digital currency could co-exist with stablecoins, and complement them by providing widely available, government-backed payment methods.

"It can provide a secure commitment to the central bank as a neutral settlement layer in the digital financial system," she added, noting that "it would in fact facilitate and enable private sector innovation."

Brainard's comments come as the Federal Reserve discusses a possible new form of money to keep pace with private sector payment innovations, including stablecoins, a type of cryptocurrency intended to be pegged to the dollar or another national currency.

Unlike private cryptocurrencies, such as “Bitcoin”, the central bank digital currency issued by the Federal Reserve will be issued and backed by the US central bank, a government entity, as well as US banknotes and paper currency.

This idea divided Federal Reserve officials, making it unlikely that they would soon decide whether to create a digital dollar.

Stablecoins gained renewed interest from regulators this month after the TerraUSD coin, at the time one of the largest stablecoins, saw its value drop below the dollar.  LINK

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

Courtesy of Dinar Guru

Frank26   In all honesty if Iraq doesn't move soon the basket may move without them.  Iraq is now backed by gold.  It used to be backed by oil.  It can be backed by anything they want.  They're that powerful financially.  Yes, the ISO was very powerful, this was an IMF goal and so is raising the value of the IQD an IMF goal.  The IMF is not silent about raising the value of the dinar.  It's what they are doing...

Deepwoodz   Kadhimi has been silent but he usually is concerning parliament...I do agree there is a work around/smoke and mirrors in play. I suggest that the EFSLaw is the work around to the new exchange rate...the budget law and EFS law are synonymous. I believe this means the rate is in both. Whichever comes first should reveal it.

Ruble stronger vs dollar than before Ukraine War | Bill Holter

Arcadia Economics:  5-30-2022

Ruble stronger vs dollar than before Ukraine War | Bill Holter

A few months ago Joe Biden warned Vladimir Putin that if Russia invaded Ukraine, the US would respond with financial sanctions. Which it did.

However months later, after initially getting blown out, the Ruble has rallied. And now it´s even stronger against the dollar than even before the whole skirmish began.

Fortunately Bill Holter of JS MineSet joined me on the show to explain what´s happened, and why this puts so much pressure on the western financial system. As well as what to be aware of going forward.

So to hear the latest economic update with Bill Holter, click to watch this video now!

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

Be Ready For A BIG Move In The Stock Market... Keep Your Eyes On These Few Things.

Greg Mannarino:  5-31-2022

https://www.youtube.com/watch?v=YvRhL3KVhfQ&t=31s

"Tidbits From TNT" Tuesday Morning 5-31-2022

TNT:

TwoCuteCats:  European Banks Led by BNP to Benefit From Basel Rule Change

Regulators tweak math for capital buffers in nod to bank union

BNP Paribas could see lower capital requirements as a result

European banks led by BNP Paribas SA stand to benefit after global regulators agreed to start treating the euro area as one market in determining capital requirements for its top lenders.

Banks headquartered in Europe’s banking union, which encompasses mainly the countries that share the euro, would see cross-border exposures within the bloc treated as domestic ones, which are considered less risky, 

https://www.bloomberg.com/news/articles/2022-05-30/european-banks-led-by-bnp-set-to-benefit-from-basel-rule-change

Harambe:  Vietnam more attractive investment destination | Vietnam+ (5/30/22)

Due to China's strict zero-COVID policy and disrupted supply chains, more and more German companies in Asia are looking for alternatives and neighbouring Vietnam has become a new target, the German weekly business news magazine WirtschaftsWoch wrote in an article published on May 29.

In Asia, many German companies are looking at Vietnam as a new location for production.

The article cited Marko Walde, Chief Representative of the German Industry and Commerce in Vietnam, as saying that since Vietnam reopened its borders on March 15, the chamber has been visited almost every week by medium-sized German companies looking for new locations.

Vietnam offers tariff advantages thanks to the Trans-Pacific trade agreement with the US and is the only Asian country, besides Singapore, that has a free trade agreement with the EU.

Internationally active companies are diversifying their supply chains and considering Vietnam as an investment location, the article quoted the Germany Trade & Invest (GTAI) in analysis of the country of 99 million inhabitants. 

The GTAI also took Danish toy manufacturer Lego as an example, with the company investing more than 1.2 billion EUR (1.29 billion USD) in a new factory in Vietnam.

https://en.vietnamplus.vn/vietnam-more-attractive-investment-destination-german-business-magazine/229406.vnp

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

Tishwash:  Masoud Haider, warning of the anger of the Iraqi street: The poverty rate is increasing and the situation may explode

Masoud Haider, advisor to President Barzani, warned today, Monday, of an explosion in the Iraqi street in light of the failure of the political forces to agree on the formation of the federal government, nearly seven months after the elections.

In an interview with Kurdistan 24, Masoud Haider said that Iraq is under the rule of armed groups and the influence of a regional state that implements its policies in the country through its own tools.

He added that ballot boxes are not respected in Iraq, noting at the same time that the Iraqi people "are very angry, and the street may explode at any moment."

Masoud Haidar stressed that there is an attempt to take the country to safety through the tripartite alliance (the Sadrist movement, sovereignty and the Democratic Party).

Adviser to President Barzani indicated that Iraq's imports amounted to 1300 billion dollars in the past 19 years, but they did not reflect on the lives of citizens, especially in Baghdad and the south, pointing out that the poverty rate exceeded 40 percent, and reached 50 percent in some provinces.

Masoud Haider said that the Kurds organized their relations with Baghdad within the framework of the constitution.

He went on to say, "The stability of Baghdad is important to the Kurdistan Region, and any chaos that occurs in Iraq will reflect negatively on Kurdistan."   link

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

Tishwash:  Visa International begins its work in Iraq

The Central Bank of Iraq announced that Visa International has started its work in Iraq.

A statement by the bank stated that "Al-Furat News Agency" received a copy of it, "The Governor of the Central Bank of Iraq, Mustafa Ghaleb, received today, Monday, a delegation from the International Visa Company, where the company started the first steps of its work in Iraq."

On the sidelines of his meeting with the delegation, Makheef stressed that "the Central Bank of Iraq will support the company's steps in its work in Iraq because of its importance in attracting sober international expertise and the need to encourage electronic payments and enhance financial inclusion."

He added, "The Central Bank of Iraq pays great attention to developing the banking sector and keeps pace with the latest developments, and we will provide the necessary support for that."  link

Mot:  ACTUAL CRAIG'S LIST PERSONALS AD

To the Guy Who Tried to Mug Me in Downtown Savannah night before last.

Date: 2011-11-27, 1:43 am. E.S.T.

I was the guy wearing the black Burberry jacket that you demanded that I hand over, shortly after you pulled the knife on me and my girlfriend, threatening our lives. You also asked for my girlfriend's purse and earrings.

I can only hope that you somehow come across this rather important message.

First, I'd like to apologize for your embarrassment; I didn't expect you to actually crap in your pants when I drew my pistol after you took my jacket.. The evening was not that cold, and I was wearing the jacket for a reason.. my girlfriend was happy that I just returned safely from my 2nd tour as a Combat Marine in Afghanistan .. She had just bought me that Kimber Custom Model 1911 .45 ACP pistol for my birthday, and we had picked up a shoulder holster for it that very evening.

Obviously you agree that it is a very intimidating weapon when pointed at your head ... isn't it?!

I know it probably wasn't fun walking back to wherever you'd come from with crap in your pants. I'm sure it was even worse walking bare-footed since I made you leave your shoes, cell phone, and wallet with me. (That prevented you from calling or running to your buddies to come help mug us again).

After I called your mother or "Momma" as you had her listed in your cell, I explained the entire episode of what you'd done. Then I went and filled up my gas tank as well as those of four other people in the gas station, -- on your credit card. The guy with the big motor home took 153 gallons and was extremely grateful!

I gave your shoes to a homeless guy outside Vinnie Van Go Go's, along with all the cash in your wallet. [That made his day!]

I then threw your wallet into the big pink "pimp mobile" that was parked at the curb ..... after I broke the windshield and side window and keyed the entire driver's side of the car.

Earlier, I managed to get in two threatening phone calls to the DA's office and one to the FBI, while mentioning President Obama as my possible target. The FBI guy seemed really

intense and we had a nice long chat (I guess while he traced your number etc.).

In a way, perhaps I should apologize for not killing you ... but I feel this type of retribution

is a far more appropriate punishment for your threatened crime. I wish you well as you try to sort through some of these rather immediate pressing issues, and can only hope that you have the opportunity to reflect upon, and perhaps reconsider, the career path ou've chosen to pursue in life..

Remember, next time you might not be so lucky. Have a good day!

Thoughtfully yours, Semper fi,

Alex