MarkZ and Michael Cottrell Friday Morning Chat 6-30-2023

Note From PDK: I will be traveling for the next week or so. I may or may not be able to transcribe Marks Podcasts or they may be later than usual….Be sure to listen to his daily calls for all of his intel and opinions……..Thank you

MarkZ Friday  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: Happy Independence Day weekend everyone

Member: Mark- if Nesara gets implemented …will there be capital gains tax like on ROI?

MZ: As we understand it most likely not…..and the capital gains tax will go away …all those taxes will go away and we will have a VAT tax. (value added tax on purchases)

Member: praying GoldBacked or U.S.N. is announced this weekend

Member: How will we know we don’t end up with the cabal’s CBDC vs the correct gold backed currency? The way Goldilocks explains it – we are heading to CBDC’s

MZ: Do we get the good one or the bad one?  There is a war going on right now. If they do get their CBDC-it wont change the fact that there is too much debt …….Based on my research and intel nothing short of a reset to commodities  and erasure of debts will save this economy.

MZ: if they get their CBDC’s it will be short lived…..70-80% of the rest of the world is moving to a gold backed/commodity backed system (BRICS)   Either way I believe we win in the end.

Member: praying the good guys win.

Member: Regulated CBDC is good! Unregulated CBDC is the cabal CBDC!

Member: There are already too many states that have banned the cabal CBDC

Member: Nobody wants the CBDC ….read a good article in Epoch Times

Member: is the Fednow good or bad?

Member: I hear New World Order already failed. Fednow equals XRP Now

MZ: “Whales bought $360 million XRP amid recent 12% price drop”  Why is that important?  XRP is the backbone of international transfers right now. So the whales with smart money buy on the dip …..This is a tell tale sign.

MZ: “ How long will the dollar last as the world’s default currency? The BRICS Nations are gathering in S.Africa this August with this on the agenda”  our window is getting very short for a positive reset. This is a huge subject in the press and the financial world.

Member: At this point I think the best we can hope for is reinstatement of the Dinar. The rest sounds too good to be true.

Member: Are you confident the Zim will go?

MZ: I am very confident the Zim is going to go. And very confident the dong will go at the same time as the dinar.

Member: I guess sthere is not banker or bond news today…..hope they are all under NDA’s

Member: Thanks Mark and mods…..everyone enjoy the holiday

Member: Hey mark…..oh we are getting so excited for new beginnings hope you have a wonderful weekend

Member: Happy 4th of July Weekend!...Stay safe everyone…

Mr. Cottrell joins the stream today…Please listen to replay for his information.

“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY

SATURDAY GO TO: Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

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Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

MARK’S TELEGRAM ROOM FOR WORLD NEWS EVENTS & CHAT? LINK: https://t.me/TrollingNews_telegram

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

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Youtube:     https://www.youtube.com/watch?v=y0WBj6pQQ4I

Awake-In-3D: The Biggest Monetary Shock in 52 Years is Coming 6-30-2023

Awake-In-3D:

The Biggest Monetary Shock in 52 Years is Coming

On June 29, 2023 By Awake-In-3D

The BRICS+ countries are on the verge of announcing a new currency linked to gold, which could trigger a global currency reset and mark the end of the US dollar’s reign as the exclusive global reserve currency. This move is expected to have far-reaching consequences for the international financial system, causing shockwaves that the world is unprepared for.

With gold prices being manipulated and the potential volatility of a gold-backed currency, questions arise about the stability and viability of such a system. However, the BRICS+ currency’s value will be determined by the price of gold, and China and Russia are likely to play a pivotal role in influencing the dollar price of gold to increase the value of their currency and undermine the US dollar.

The implications for investors and the long-term impact on exchange rates and capital markets remain uncertain.

I am summarizing a recent article written by Jim Rickards. He is an American lawyer, economist, and investment banker with 40 years of experience working in capital markets on Wall Street.

The article discusses the upcoming announcement of a new currency by the BRICS+ countries, which could have significant implications for the global financial system and the US dollar. The new currency is likely to be linked to gold, leveraging the gold reserves of BRICS members Russia and China. This move could potentially lead to a global currency reset, with the end of the US dollar as the exclusive global reserve currency and the rise of a gold-backed monetary system.

The article argues that the dollar’s strength should be measured in gold, as gold is not a central bank currency. The author highlights the manipulation of gold prices in the paper gold market, emphasizing the need for a fixed price for gold in a gold-backed currency. The potential volatility of gold as a currency is discussed, along with the US government’s possible motivation to sabotage a rival currency bloc.

The article concludes that the value of the new BRICS+ currency will be determined by the price of gold, with China and Russia likely to influence the dollar price of gold to increase the value of their currency and undermine the US dollar.

Key Points from the Article:

• The BRICS+ countries are set to announce the creation of a new currency linked to gold.

• Russia and China, the two largest gold producers in the world, have significant gold reserves.

• Gold prices are subject to manipulation, supported by statistical evidence and expert testimony.

• The author suggests that a gold-backed currency would require a fixed price for gold to ensure stability.

• The BRICS+ currency will be valued in units of gold by weight, with a fixed value in gold.

• The value of the new currency will fluctuate based on the dollar price of gold.

• China and Russia are expected to have significant influence over the dollar price of gold and the value of the new currency.

• The collapse of the dollar, measured in gold or the BRICS currency, could lead to inflation and a loss of purchasing power.

Original article link: https://dailyreckoning.com/the-biggest-monetary-shock-in-52-years/

Website: Ai3D GCR RealTimeNews | Telegram: GCR_RealTimeNews | Twitter: @Real_AwakeIn3D

https://ai3d.blog/the-biggest-monetary-shock-in-52-years-is-coming/

A Steady Controlled Demolition of U.S. Credit Markets

Danielle DiMartino Booth: A Steady Controlled Demolition of U.S. Credit Markets

Palisades Gold Radio:   6-29-2023

Tom Bodrovics welcomes back Danielle DiMartino Booth to discuss the looming problems of the US credit markets. Booth notes that the US is in the midst of a controlled demolition, and that the deliberate nature of Powell's higher for longer rate hike schedule is having a negative effect in the form of bankruptcies.

 Despite this, there has not been a major financial meltdown due to the amount of credit card spending and the amount of fiscal stimulus from the pandemic.

Booth discussed the tightening of banking standards and lending standards, which she noted have been imposed by credit unions and regional banks. She noted that as long as Jay Powell succeeds in maintaining a higher for longer stance on monetary policy, there will be a continued bleed into the money market fund industry.

She discussed the magnitude of fiscal relief and fiscal stimulus that is still being pumped into the economy, and how this is helping the Fed to regain some of their credibility.

 Danielle also discussed student loan forbearance, which was part of the debt ceiling law and explained that there was little room for an extension.

She then discussed commercial real estate, noting that demand had declined and companies and businesses were turning in their keys.

DiMartino Booth then discussed the goal of Federal Reserve Chairman Jay Powell, which is to raise interest rates and rewrite modern monetary policy history. To do this, he must get rid of the zero bound, stop at two percent, get rid of quantitative easing, and get out of the credit easing business.

Finally, DiMartino Booth discussed the global implications of the US keeping their rates higher for longer. She also notes that major fiscal relief should not be expected until the second quarter of 2025 at the earliest.

Time Stamp References:

0:00 - Introduction

0:52 - Fed Pauses & Bankruptcies

2:27 - Stimulus & Credit

4:46 - Consumer Debt & Spending

7:02 - Lending Tightening

8:27 - Powell Approach

10:23 - Soft Landing & Jobs

14:12 - Impacts & Stimulus

16:08 - Student Loans

18:17 - Commercial Real Estate

19:44 - Easing & Timelines

22:05 - Monetary History

26:41 - U.S. & C.B. Stress

28:22 - Wrap Up

Talking Points: - The US is in the midst of a controlled demolition, with the deliberate nature of Powell's higher for longer rate hike schedule having a negative effect in the form of bankruptcies.

- Federal Reserve Chairman Jay Powell is aiming to raise interest rates and rewrite modern monetary policy history.

 - The US dictates global monetary policy, and domestically major fiscal relief should not be expected until the second quarter of 2025 at the earliest.

https://www.youtube.com/watch?v=lr2bbtqBNZI

Economic Thoughts From John Rubino and Lynette Zang 6-30-2023

Painful Market Crash on the Horizon with John Rubino

WTFinance:  6-30-2023

On this episode of the WTFinance podcast I have the pleasure of speaking with John Rubino - Founder of dollarcollapse.com, author/co-author of 5 books and a great Substack.

During our conversation we spoke about the bearish pain to come, why we will see further bank failures, could central banks bail out governments, whether this would lead to a Bretton Woods 3.0 and how to protect wealth during this period.

 I hope you enjoy!

0:00 - Introduction

0:53 - Key events that John is currently watching?

4:10 - Surprised how well the economy has held up?

5:20 - How will John know bearish catalyst

8:35- Why would central banks not bail out government?

13:10 - Do central bankers have any tools left to save the current system?

16:30 - Bretton Woods 3.0 or BRICS currency to emerge?

22:00 - What is happen with the Euro?

29:10 - Potential for a hot or cold war between diverging regions?

35:20 - How to protect wealth?

37:20 - Is land really a store of wealth when governments can tax?

40:55 - Key message to take away from our conversation?

https://www.youtube.com/watch?v=oDEj2sGOh6c

IMF Report: Unmasking the Global Zombie Corporation Epidemic

Lynette Zang:  6-29-2023

We've talked a lot over the years about zombie companies, those companies that have not been able to make any principal payments, let alone all of their interest payments for at least three years.

But the banks and other lenders don't want that to show up on their books. So they loan them the money so that they can at least make most of their interest payment. And then any excess goes on.

And so what they're really growing is more and more and more debt. Well, the IMF just came out with a report on it. And I think you really need to know about it.

CHAPTERS:

0:00 Zombie Companies

 1:28 IMF - Rise of the Walking Dead

3:32 We See Patterns

6:20 Average Share of Zombie Corporations

 8:54 Mean Duration

11:39 Markets Saying to Fed

13:42 Profits Look Shaky

16:43 Junk Loans Defaults Surge

20:09 Powell Wake Up Call!

22:22 Long Term Benefits of Owning Gold

https://www.youtube.com/watch?v=2z0zruKd_uM

Bruce’s Big Call Dinar Intel Thursday Night 6-29-23

Bruce’s Big Call Dinar Intel Thursday Night 6-29-23

Transcribed By WiserNow Emailed To Recaps

Welcome everybody to the big call tonight. It is Thursday, June, 29, and you're listening to the big call. Thanks for tuning in, wherever you're listening from all over the globe. Welcome you to the big call, and if it's your first time hopefully you're in for a treat. If you've been here, like many of us for 12 years that we've been doing the call - Welcome back.

So let's take a look.at the Intel that we have for night. There are a couple of things that are very important that we're just about to come into. I've told you guys on Tuesday night, that’s the Fourth of July was not going to be a day that we would go in for exchanges.

Well, it appears that the Fifth of July is the first day that we should go in for exchanges.

I said our notifications  could come out Saturday, Sunday or Monday, set our appointments and then start on Wednesday, the fifth with appointments with our exchange appointments.

It could come out Saturday or Sunday. My personal feeling is it'll probably come out Monday.

Just because of the other things that are happening on Saturday. Let's talk about a Saturday, the first of July - tomorrow, which is Friday the 30th of June. Tomorrow is the transition day for our new financial system as we transition from the old USD dollar to the US N dollar on the first of July.

So tomorrow transitions from the old financial system into the new - specifically to the USN - our new United States Treasury dollar

Now admittedly it's digital, but we also have the physical currency, the cash that we will have I don't know if it'll be Monday, or maybe Wednesday - we know it's at the redemption centers already - so it'll be there when we go in for our exchanges - but we know that the financial system which we're referring to the  USN - when we say that - transitions from Friday the 30th  into the first of July, which is Saturday.

So that is a very positive move for us. The other thing that we're hearing and it's from certain sources, is the fourth of July, which is Tuesday could be a very important day when we see the political change take place that we thought might happen as a result of one of the Brunson cases.

If that occurs, then we're totally off and running as a result of that. That's very big. Obviously !

As far as Iraq is concerned, they are wrapping up their Eid on Sunday. We have a new rate from Iraq coming out and the Iraq dinar - the new Iraqi dinar - will be on the Forex Sunday evening at five o'clock and we would be able to see it here.  If you're a Forex person, you could see it.

It's been on there and it's been trading, but it's been blocked for the United States.

Now my understanding is that Sunday at five o'clock if you're a subscriber to Forex, that would come off and you would be able to witness the rate and see the trading that's going on with the Iraqi dinar starting around five o'clock - On Sunday, the second of July.

I believe I mentioned that the  med bed appointments.  - First appointments are available starting the 10th of July. That means if we go in on the fifth or the sixth for our exchange and redemption of Zim. We get the information we would need to set those appointments. And they're really targeting the Zim holder because they know we have humanitarian projects and they know that we would like to be around and you need to let them know that at the redemption center. We want to be around to see your projects come through to completion in the next 100 200 300 years.

So we realized that longevity is a portion of what's available in the med beds.

Numbers winding your body back with time where you don't age as fast and where you could literally live 200 300 400 more years and you're gonna be able to do that when you go in for your appointment.

You're gonna be able to tell them that's what you want. And then they'll either do from what we know now. They'll either remember to call on the set that that appointment or they'll give you a printed sheet is like a form letter that you'll have with the information on it - that might need to be filled out and scanned in.

 Or they'll give you a website that you can go to to fill out the information and submit it for your appointment.   There's three ways we believe that you're going to have access to when you go in for your dinar and zim exchange.

You know, I listened to a call today that was sent to me kind of a podcast with a woman from 1000 Oaks, California and the other guy who was hosting the show. And it surprised me because as much as we've talked about in the last several years you that have been listening to the big call for the last six 8 -10 or 12 years know far more than a lot of the other people that are out there in the mainstream.

 You have way more than they do and you really know more than most bankers do about this event about what's happening. The bankers are just now getting up to speed and they still don't have it quite right.

Redemption center staff is up to speed. They know what's going on. And they're ready to go  - And it's good. but it just surprised me how basic information that we've heard for years and have taken for granted is just now coming into not even the mainstream but just people that are just now getting a clue about what's about to happen.

Their terminology is wrong. they get kind of the concepts but they really don't have it right.

You guys know far more than you think you know - if you've been listening, you know about the Global Currency Reset you know about 29 countries’ currencies that are going up in value - that their currencies are backed or asset backed, some of them by gold, some of them by gold and other precious metals, some by diamonds and other jewels, some by other types of commodity items - Some of it could be the oil and natural gas. Some of it could be by intellectual property. The point is each country's currency has a value established by these assets.

Okay, that each country has and not everybody is fully gold backed US isn't completely fully gold backed but we have a pretty high percentage of gold backing our US Treasury dollar.

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

The other thing is that I'm hearing is and I hope this is also going to come through that NESARA and GESARA could be announced in some form or fashion on Saturday, which would make sense as the first day of July.

Now, we had also heard that that information may come out on the Fourth of July, which is conceivable or maybe we'll get something additionally coming out on the fourth but I'd rather see something regarding NESARA, come down on the first, which is Saturday.

Now, GESARA is supposed to be announced or brought out by Charlie Ward and I think the same timeframe. Maybe used to bring both NESARA and GESARA out.

And what would come out as a part as a as part of the announcement of NESARA would it include debt forgiveness?

Would it include restitution and restoration allowance that we're looking to receive back in the first and possibly last weeks of July?  Could very well.

Would it include the description of that could include the dissolution of federal income tax.

There's so many things – could it have a discussion about the new form of taxation that we're starting, which is sort of a consumption tax on non consumable items. So that's ironic, right?

In other words, new goods that are not that would be taxed at a consumption rate, similar to the value added tax in Euro except ours is supposed to be I think 14% Total somewhere in that range, 14 to 15%.

And that's a really big, big deal. Could that be brought out?  I don't know how much they will bring out. They could overload us if they tried to bring too much out on Saturday. But I think they're gonna bring out sort of the positive effects of the NESARA to us. And maybe they get into the political ramifications of it, meaning election than 120 days, and so on. There's a lot to it

Now, in the meantime, we talked a little bit about the arrests that were going on in California and in New England - numbers have increased over 8000 in California, and over 3000 in the northeast, five states.

And, you know, the military presence that we have built up in the United States is the greatest ever in history in the US - and we have coverage in 300 and I believe its 331 or two cities now - and they're there for the announcements that is dissipated, which will make the political change that we've been talking about for a while. – in case there are any repercussions  that would come out of that.

They are ready for that - ready to take action if needed.

Now could NESARA and GESARA  for that matter – be explained on emergency alert system or emergency broadcast system because I don't have that yet. It's not clear as to how they're going to use that, and when they're going to use it.

But I wouldn't be surprised if some of that was utilized when we start our exchanges which should be coming next Wednesday the Fifth of July.

Now the redemption centers are set to go 15 days straight - in all redemption centers throughout the United States regardless of the population density or demographics, all set to go for a 15 day period of time.  Some will  not need to be open that long .

Some might need to close down because they don't need to be open. They've got their Zim holders in the area taken care of. They've got most of the other currency holders done, so we'll see if all of them stay open 15 days from country

By the way on med beds - are over 8300 Bed beds throughout the United States and with no further than 90 miles to drive to any one office or clinic let's call it that has med beds  in that  and includes the wide expanses of United States especially out west where the distances are greater To get to towns or cities that would have been.

The higher the concentration to population and demographics - the higher the concentration of med beds for those cities and towns. - It follows it makes sense

Let's see if there's anything else. -

So we're expecting some pretty good things to happen. If give us true independence again on the Fourth of July and we'll have to see what the political change turns out to be.

Whether Brunson runs in which a lot of Supreme Court cases are supposed to be brought tomorrow. Whether it runs and is one of them or not. We'll see.

But we understand. One of the Brunson cases was dropped but the other one was adjudicated with a positive result for President Trump, which would be returning the elections of 2020.

So let's see what happens. Let's see what that's the information that we're getting.

As far as it goes, as we are, we are right where we need to be. I'm very excited about the transition from the USD to USN  tomorrow to Saturday the first of July. We will continue to be able to use our USD fiat currency in this country for several months - even after the new money comes out, we'll still be able to use the dollar until they phase it out here completely and by that I mean, a Fiat dollar phase out.

But everything appears to be ready to roll and it's already moving forward  in Iraq and EID which some people thought might hold this up ends on Sunday  - At sunset I believe. So that is not the factor for us.

And we believe a quantum financial system is being fully  integrated into all countries, all banks that qualify to be part of it. So is the Starlink satellite system that's all part of it. and countries are being added into the QFS now and should be complete by the Fourth of July.

All countries globally should be completely integrated. and the QFS should be fully integrated operational on or by the Fourth of July.

So that's the intel that I wanted to bring to you guys tonight - I feel like we're at a really good place to get everything to come through.

What I'm praying for and I'd like to pray with me is that all of the intel we have comes together and comes into fruition as described - I believe, whereas we're further along than we've ever been before.

And I really believe that everything has moved to a place where now it's time for this to go.

And that's my hope and that's my prayer. So I want to thank everybody,  All things considered, this should be our last call.  We're not intending to have a call Tuesday night on the fourth of July. We're just not going to have one so we should have everything we're looking for. Including toll free numbers, email prior to them anyway. Right. We think it's by Monday. Let’s believe that's the case too.

And thank you big call universe. All the listeners out there. Thank you so much for tuning in.   Thank you for everything that you're doing out there. Thank you for those that have helped to get the call out to various countries throughout the globe.

We've had as few as an additional 40 or 42 countries and as many as 102 210 countries receive our call in their own language and appreciate the guys that have put that software together and created a way to get the call out so far. It's getting out to millions of people. As many as 5 million per country. So that's a very positive thing.

And in the meantime, everybody, let's have a great weekend. Let's pay attention to what's going on tomorrow and Saturday especially. And this could be a beautiful start to our new future.

 All right, thanks everybody for tuning in - have a great safe weekend. And a wonderful Independence Day on Tuesday

Bruce’s Big Call Dinar Intel Thursday Night 6-29-23   REPLAY LINK    Intel Begins   1:05:05

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Bruce’s Big Call Dinar Intel Tuesday Night 6-27-23   REPLAY LINK   Intel Begins   53:13

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Bruce’s Big Call Dinar Intel Thursday Night 6-22-23   REPLAY LINK    Intel Begins   1:03:50

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Bruce’s Big Call Dinar Intel Tuesday Night 6-20-23   REPLAY LINK   Intel Begins   1:25:00

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Bruce’s Big Call Dinar Intel Thursday Night 6-15-23   REPLAY LINK    Intel Begins   1:12:45

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Bruce’s Big Call Dinar Intel Tuesday Night 6-13-23   REPLAY LINK   Intel Begins   1:07:37

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Bruce’s Big Call Dinar Intel Thursday Night 6-8-23   REPLAY LINK    Intel Begins   1:06:00

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Bruce’s Big Call Dinar Intel Tuesday Night 6-6-23   REPLAY LINK   Intel Begins   1:18:18

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHFHq

Friday Afternoon Clarification from RJ

Good afternoon Dinar Recaps,

Some members brought this comment to our attention.

"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/ "

It was posted near rhe end of…

"Coffee With MarkZ" Tuesday Morning Chat 6-27-2023

https://dinarrecaps.com/our-blog/qamuzjrf4k68gplduoluwb3md61qhr

MarkZ and Salty are still friends but she no longer promotes MarkZ and he no longer promotes the Seeds of Wisdom Team.  His information is no longer on the Seeds of Wisdom Team Website or in our Telegram rooms.  It is true that they worked hard to build a community but they are no longer affiliated with each other.  

Please refrain from posting anything that states that MarkZ and Salty Toes are working together or that MarkZ's info can be found on the SOWT website.  That is history at this time even though they remain friends.

Thank you so much for understanding and for all you do for the whole Dinar community.

Sincerely,

RJ

"Zimbabwe, Vietnam and Indonisia News" Posted by Harambe at TNT 6-30-2023

TNT:

Harambe:  Zim-dollar regains grip against USD again | The Chronicle (6/29/23)

THE Zimbabwe dollar is fast regaining value against the US dollar with the weighted average rate at the wholesale foreign exchange auction today pegging the local currency at US$1: $5,739 from US$1:ZWL6,300 on Tuesday.

Expectations are that the exchange rate (official and parallel market), which recently took a battering from the negative impact of excess liquidity in the market, will strengthen in favor of the local currency going forward.

Since the introduction of the wholesale auction, financial institutions have been struggling to raise Zimbabwe dollar funding enough to buy more than US$1 million at any given time.

In an update today, the total value of bids accepted was $3,5 million with $2,9 million allotted.

Based on the Reserve Bank of Zimbabwe update, the highest bid rate received was $6 000 while the lowest was $5,263.

On Tuesday, financial institutions only managed to buy a third of the US$30 million foreign currency available on the wholesale foreign currency auction as the Zimbabwe dollar liquidity crunch hits the market.

Only US$10 million was purchased by banks today from the US$30 million on offer.

In the first wholesale foreign currency auction early this month, 19 banks were allotted US$11,18 million as authorities switched to the banking system’s interbank market.

As part of the reforms, the RBZ’s Monetary Policy Committee (MPC) met early June and came up with additional interventions aimed at ensuring that the interbank forex market became the primary source for foreign exchange needs in the economy.

The latest development overtakes the auctions that have carried the burden for just under three years since the middle of 2020.

In taking measures to address issues affecting the economy, the MPC noted that the prevailing volatility in the exchange rate emanated from both supply-side and demand-side factors.

 https://www.chronicle.co.zw/zim-dollars-regains-grip-against-usd-again/

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

Harambe:  Vietnam, Indonesia step up legislative ties | Vietnam+

(6/29/23)

Chairman of the National Assembly (NA)’s Committee for External Relations Vu Hai Ha hosted a reception in Hanoi on June 29 for the Ambassador of Indonesia to Vietnam, Denny Abdi.

 Ha said the countries, sharing a bilateral traditional friendship which was upgraded to strategic partnership in 2013, have boosted their high-level and all-level exchanges, maintained and promoted their effective cooperation mechanisms, and coordinated policies in line with Indonesia's priorities for the region, especially during its 2023 ASEAN chairmanship.

He stressed that the Vietnamese NA wishes to deepen and enhance the strategic partnership between Vietnam and Indonesia via further strengthening cooperation with the legislative bodies of Indonesia, particularly in delegation exchanges and teamwork between the sides’ specialised committees and friendship parliamentarians' groups.

The Vietnamese NA also looks forward to promoting the exchange of information and experiences with the Indonesian parliament on law building and inspection work related to post-COVID-19 socio-economic recovery and global issues such as digital transformation, he added.

The official said in the time to come, Vietnam and Indonesia need to continue improving the legal framework for cooperative activities and maximising the effectiveness of their joint committee on economic, scientific, and technological cooperation to facilitate trade and investment flows.

The two countries should explore and seek opportunities for collaboration in such new areas as digital transformation, clean energy, capitalising on the opportunities brought by the Fourth Industrial Revolution.

For his part, the Indonesian diplomat stressed that Indonesia values its strategic partnership with Vietnam and is committed to making every effort to promote their friendly cooperation.

Agreeing with Ha’s assessment regarding the strong ties between the two countries in various fields, the ambassador suggested that the Vietnamese and Indonesian legislative bodies further promote these cooperative relations and increase their exchange of high-level delegations.

https://en.vietnamplus.vn/vietnam-indonesia-step-up-legislative-ties/255485.vnp

Prime Minister hosts IMF’s Article IV consultation team | Vietnam+ (6/29/23)

Hanoi (VNA) - Prime Minister Pham Minh Chinh on June 29 received a delegation of the International Monetary Fund (IMF) headed by Sanjaya Panth, Deputy Director of the IMF’s Asia and Pacific Department, who are on a working trip in Vietnam for Article IV consultation.

Expressing his satisfaction with the results of the cooperation between Vietnam and the IMF, PM Chinh stated that the Vietnamese Government always listens to and highly values the evaluation opinions and policy advice from the IMF. The report by the Article IV consultation team is one of the important sources of input information for the making and implementation of policies by the government, ministries and sectors.

The IMF’s consultation and policy dialogue activities have supported the Vietnamese government in formulating stable and effective socio-economic development policies, especially during the COVID-19 crisis and the current global instability, PM Chinh said.

The IMF delegation congratulated the country on its positive economic and social achievements, particularly after the pandemic.

They noted that global growth prospects are relatively weak, but the Asian region, including Vietnam, sees more favourable ones and can serve as a global growth driver. The Vietnamese economy is expected to grow better in the last months of 2023 and this growth momentum is likely to be sustained and bolstered in the coming years.

The government leader expressed the desire for the IMF to continue providing competent Vietnamese agencies with training programmes and technical support in economic, financial, and monetary management, and statistics.

He proposed that the team and IMF Resident Representative Office in Vietnam further enhance policy advisory activities for the Vietnamese government and agencies. The PM also expressed his hope and confidence that the already good relationship between the sides will be increasingly consolidated and strengthened and that the IMFwill continue to accompany Vietnam in its future development process.

Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

https://en.vietnamplus.vn/prime-minister-hosts-imfs-article-iv-consultation-team/255487.vnp

Friday Afternoon Iraq Economic News Highlights 6-30-23

Friday Afternoon Iraq Economic News Highlights 6-30-23

The President Of The Republic: The Government Is Serious About Taking Measures To Encourage Investment

Money  and business   Economy News – Baghdad  President Abdul Latif Rashid said that Iraq enjoys security, peace and stability, and this provides opportunities for investors to invest in the country.

Rashid added, in an interview with the BBC, that "the government is serious about taking concrete measures that will encourage foreign and domestic investment, as there are promising opportunities for investors in Iraq, especially with the security, safety and stability that Iraqi cities are witnessing."

The President of the Republic referred to "the need to amend money transfer laws and regulations, financial policy, and improve some rules and regulations related to investors and the banking sector."

 70 views  Added 06/29/2023 https://economy-news.net/content.php?id=34946

He Described It As A Safe Investment Environment... Al-Khattabi: An International Investment Conference Will Be Held Soon In The Holy City Of Karbala (video)

FRI, 06-30-2023, TAYSEER AL-ASADI  The Holy Governor of Karbala, Eng. Nassif Jassim Al-Khattabi, revealed that an international investment conference will soon be held in Karbala Governorate, after he described it as a safe environment for internal and external investment, and stressed that the time has come to attract international companies to invest in the Holy Governorate of Karbala.

And Al-Khattabi said in a statement to the Noon News Agency that "Karbala governorate today is a safe environment and the time has come to attract international investment companies to implement large projects in the holy Karbala in all specializations,

and we are strongly determined to activate investment with the support of Prime Minister Muhammad Shia'a Al-Sudani and the basic government program, which is Karbala governorate is part of it and is concerned with supporting investment and creating a safe environment for it, although some officials are against investment because they do not have the correct vision, which can be addressed in the future during work, and their ideas will change when seeing success in work,

but the Karbala street remains supportive of investment, the prime minister and the program The government is supportive of us, and the Karbala administration insists that real investment, whether internal, contribute mainly to creating job opportunities and building the city, and an international investment conference will be held in the holy governorate of Karbala soon.” https://non14.net/public/158142

Iraq And Saudi Arabia Are Discussing The "Housing Crisis" And The Establishment Of Major Cities 

The head of the National Investment Commission, Haider Muhammad Makiya, discussed with the Saudi Minister of Investment, Khaled Al-Falih, the solution to the housing crisis and the establishment of major cities in all governorates.

The office of the Chairman of the Investment Authority stated in a statement, that: “In implementation of the directives of the Prime Minister, Muhammad Shia’a Al-Sudani, and in completion of the procedures of the National Investment Commission in the course of financing the Basmaya residential project, the Chairman of the Commission discussed mechanisms for joint cooperation with the Saudi Minister of Investment Khaled Al-Falih to finance the Basmaya project.”

Makiya stressed during the meeting, "the necessity of bridging investment relations with the Kingdom of Saudi Arabia, especially with the Ministry of Investment and the Saudi Investment Fund, as it is one of the major funds in the world, to determine financing paths for major strategic projects of a service nature to citizens," indicating "the importance of completing housing units and their infrastructure within the Bismayah complex and the start Providing the best services to the residents.

He pointed out that "the priorities set by the Iraqi government's special program are represented by addressing the housing crisis and establishing major cities in all governorates of Iraq," pointing to "the prime minister's seriousness in finding solutions that cover the needs of Iraqi citizens for adequate housing through agreement with investment companies and investors to establish housing complexes." fit them."

For his part, the Saudi Minister of Investment, Khaled Al-Falih, expressed his readiness to cooperate with the National Investment Commission in completing the success story in the Bismayah complex, which is one of the important investment signs in Baghdad, after the financing is studied to complete the project or other residential complexes or new cities in Iraq. https://www.dijlah.tv/index.php?page=article&id=330843

The Head Of The Ports Authority Visits The Sea Ports Of Basra And Is Briefed On The Flow Of Work There

Friday 30, June 2023 | General Number of readings: 74 Baghdad / NINA / - The head of the Border Crossings Authority, Omar Adnan Al-Waeli, visited the sea ports of Basra to see in the field the flow of work in it.

The authority stated in a statement, “Al-Waeli held an important meeting immediately upon his arrival at the second leg of the visit, in the presence of the directors of the ports, directors of customs centers, and directors of other working departments operating in the ports of Umm Qasr port (north, middle and south), where the requirements of the departments and obstacles facing the progress of work were listened to to ensure the implementation of government decisions, noting that many paragraphs have been emphasized, including the following:

Working in a team spirit, exchanging information, integration, and cooperation to ensure smooth and highly professional business flow, and following up on the file of withdrawing piled containers.

Continuing the electronic audit through the application of the fee exemption program, as well as the electronic audit program for customs and tax receipts, and preventing forgery and distortion of official papers.

Seeing the mechanism of work of the sonars and the process of analyzing the image of the incoming goods to prevent the passage of any manipulation or smuggling of materials not mentioned in the official papers, as the images were at a high level of accuracy and analysis, And the workers on these examinations have a high level of experience and extreme care

 He conducted an inspection tour, as a result of which a number of violations were seized, which consisted of seizing wheels without the permitted model for import, hidden behind spare tools intended for smuggling. To receive

https://ninanews-com.translate.goog/Website/News/Details?Key=1062296&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Al-Rafidain: The Introduction Of Cards That Are Distinguished For Issuing A Certain Amount And According To The Salary

Economy  ,  2023/06/30 17:10  , Number of readings: 141   Baghdad-Iraq today: Al-Rafidain Bank announced, today, Friday, the imminent launch of cards that are distinguished by the launch of a certain amount and according to the salary.

The bank stated, in a statement, that "the credit card will soon be launched."

He added, "The card carries privileges, including lending for a certain amount and according to the salary."  LINK

An Economist Reveals The {Radical} Solution To Address Unemployment In Iraq

Time: 06/30/2023 Read: 1,235 {Economic: Al Furat News} Economic expert Rashid Al-Saadi revealed the basic and radical solution to address the unemployment file in Iraq.

Al-Saadi told the Euphrates News agency, "The basic and fundamental solution to addressing the unemployment file with the graduation of large numbers of students is to diversify sources of income and rely mainly on agriculture and industry and the rest of the tourism sectors, especially since Iraq is qualified to use these resources to increase its financial revenues and employ large numbers of workers."

Graduates to set up productive factories and companies, as well as real support for the private sector.

He pointed out that there are "corruption mafias in the sub-districts that stand against the state's plans and programs that are presented by the prime ministers, and that this is a big problem."Raghad Daham  LINK

Chambers Of Commerce: The Rate Of Investment Increased By 70% In Diyala

On Thursday, the chambers of commerce revealed an increase in the rate of investment in Diyala by 70%.  “The investment file in Diyala witnessed repeated setbacks due to security unrest and economic crises in the past years,” said the head of the Chambers of Commerce in Diyala, Muhammad al-Tamimi, in a press interview seen by Takadum, pointing out that “the situation changed in 2023.”

He added, "The investment rate has increased by 70%, especially in the housing sector, which represents 50% of the turnout for investment in general," noting that "5 main reasons stand behind businessmen's confidence in the Diyala environment, the most prominent of which is relative stability."

He pointed out that "Diyala is characterized by a multiplicity of investment opportunities in 7 vital sectors," noting that "unfortunately, some security incidents are being exaggerated from time to time, although they are repeated in other provinces, but the situation is generally stable."

It is currently investing tens of billions of dinars in various service projects in Diyala, especially the housing sector.   https://takadum-news.com/archives/171283

Al-Rafidain announces the imminent launch of the credit card

Political  | 09:26 - 06/30/2023  Baghdad - Mawazine News Al  -Rafidain Bank revealed, on Friday, that the credit card (credit card) is about to be launched.

The bank stated, in a statement, which Mawazine News received a copy of, that "the credit card will be launched soon."  And he added, "The card carries privileges, including lending for a certain amount and according to the salary." https://www.mawazin.net/Details.aspx?jimare=230343

Al-Halbousi: On The Occasion Of The International Day Of Parliamentary Work: We Celebrate The Importance Of The Role That Parliamentarians Play In Legislating Laws

Friday 30, June 2023 14:46 | politics Number of readings: 178  Baghdad / NINA /- Parliament Speaker Muhammad Al-Halbousi praised the role that parliamentarians play in enacting laws, in addition to carrying out the duty of oversight tasks.

Al-Halbousi said in his tweet on Twitter on the occasion of the International Day of Parliamentary Work: We celebrate the importance of the role that parliamentarians play in legislating laws in addition to carrying out the duty of oversight tasks, and we emphasize the role of Parliaments in consolidating democracy, achieving the aspirations of the people, and promoting peace and stability.

https://ninanews-com.translate.goog/Website/News/Details?Key=1062274&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

The President Of The Republic: The Government Is Serious About Taking Measures To Encourage Investment

Money  and business   Economy News – Baghdad  President Abdul Latif Rashid said that Iraq enjoys security, peace and stability, and this provides opportunities for investors to invest in the country.

Rashid added, in an interview with the BBC, that "the government is serious about taking concrete measures that will encourage foreign and domestic investment, as there are promising opportunities for investors in Iraq, especially with the security, safety and stability that Iraqi cities are witnessing."

The President of the Republic referred to "the need to amend money transfer laws and regulations, financial policy, and improve some rules and regulations related to investors and the banking sector."

 70 views  Added 06/29/2023 https://economy-news.net/content.php?id=34946

He Described It As A Safe Investment Environment... Al-Khattabi: An International Investment Conference Will Be Held Soon In The Holy City Of Karbala (video)

FRI, 06-30-2023, TAYSEER AL-ASADI  The Holy Governor of Karbala, Eng. Nassif Jassim Al-Khattabi, revealed that an international investment conference will soon be held in Karbala Governorate, after he described it as a safe environment for internal and external investment, and stressed that the time has come to attract international companies to invest in the Holy Governorate of Karbala.

And Al-Khattabi said in a statement to the Noon News Agency that "Karbala governorate today is a safe environment and the time has come to attract international investment companies to implement large projects in the holy Karbala in all specializations,

and we are strongly determined to activate investment with the support of Prime Minister Muhammad Shia'a Al-Sudani and the basic government program, which is Karbala governorate is part of it and is concerned with supporting investment and creating a safe environment for it, although some officials are against investment because they do not have the correct vision, which can be addressed in the future during work, and their ideas will change when seeing success in work,

but the Karbala street remains supportive of investment, the prime minister and the program The government is supportive of us, and the Karbala administration insists that real investment, whether internal, contribute mainly to creating job opportunities and building the city, and an international investment conference will be held in the holy governorate of Karbala soon.” https://non14.net/public/158142

Iraq And Saudi Arabia Are Discussing The "Housing Crisis" And The Establishment Of Major Cities

 The head of the National Investment Commission, Haider Muhammad Makiya, discussed with the Saudi Minister of Investment, Khaled Al-Falih, the solution to the housing crisis and the establishment of major cities in all governorates.

The office of the Chairman of the Investment Authority stated in a statement, that: “In implementation of the directives of the Prime Minister, Muhammad Shia’a Al-Sudani, and in completion of the procedures of the National Investment Commission in the course of financing the Basmaya residential project, the Chairman of the Commission discussed mechanisms for joint cooperation with the Saudi Minister of Investment Khaled Al-Falih to finance the Basmaya project.”

Makiya stressed during the meeting, "the necessity of bridging investment relations with the Kingdom of Saudi Arabia, especially with the Ministry of Investment and the Saudi Investment Fund, as it is one of the major funds in the world, to determine financing paths for major strategic projects of a service nature to citizens," indicating "the importance of completing housing units and their infrastructure within the Bismayah complex and the start Providing the best services to the residents.

He pointed out that "the priorities set by the Iraqi government's special program are represented by addressing the housing crisis and establishing major cities in all governorates of Iraq," pointing to "the prime minister's seriousness in finding solutions that cover the needs of Iraqi citizens for adequate housing through agreement with investment companies and investors to establish housing complexes." fit them."

For his part, the Saudi Minister of Investment, Khaled Al-Falih, expressed his readiness to cooperate with the National Investment Commission in completing the success story in the Bismayah complex, which is one of the important investment signs in Baghdad, after the financing is studied to complete the project or other residential complexes or new cities in Iraq.

https://www.dijlah.tv/index.php?page=article&id=330843

The Head Of The Ports Authority Visits The Sea Ports Of Basra And Is Briefed On The Flow Of Work There

Friday 30, June 2023 | General Number of readings: 74 Baghdad / NINA / - The head of the Border Crossings Authority, Omar Adnan Al-Waeli, visited the sea ports of Basra to see in the field the flow of work in it.

The authority stated in a statement, “Al-Waeli held an important meeting immediately upon his arrival at the second leg of the visit, in the presence of the directors of the ports, directors of customs centers, and directors of other working departments operating in the ports of Umm Qasr port (north, middle and south), where the requirements of the departments and obstacles facing the progress of work were listened to to ensure the implementation of government decisions, noting that many paragraphs have been emphasized, including the following:

Working in a team spirit, exchanging information, integration, and cooperation to ensure smooth and highly professional business flow, and following up on the file of withdrawing piled containers.

Continuing the electronic audit through the application of the fee exemption program, as well as the electronic audit program for customs and tax receipts, and preventing forgery and distortion of official papers.

Seeing the mechanism of work of the sonars and the process of analyzing the image of the incoming goods to prevent the passage of any manipulation or smuggling of materials not mentioned in the official papers, as the images were at a high level of accuracy and analysis, And the workers on these examinations have a high level of experience and extreme care

 He conducted an inspection tour, as a result of which a number of violations were seized, which consisted of seizing wheels without the permitted model for import, hidden behind spare tools intended for smuggling. To receive

https://ninanews-com.translate.goog/Website/News/Details?Key=1062296&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Al-Rafidain: The Introduction Of Cards That Are Distinguished For Issuing A Certain Amount And According To The Salary

Economy  ,  2023/06/30 17:10  , Number of readings: 141   Baghdad-Iraq today: Al-Rafidain Bank announced, today, Friday, the imminent launch of cards that are distinguished by the launch of a certain amount and according to the salary.

The bank stated, in a statement, that "the credit card will soon be launched."

He added, "The card carries privileges, including lending for a certain amount and according to the salary."  LINK

An Economist Reveals The {Radical} Solution To Address Unemployment In Iraq

Time: 06/30/2023 Read: 1,235 {Economic: Al Furat News} Economic expert Rashid Al-Saadi revealed the basic and radical solution to address the unemployment file in Iraq.

Al-Saadi told the Euphrates News agency, "The basic and fundamental solution to addressing the unemployment file with the graduation of large numbers of students is to diversify sources of income and rely mainly on agriculture and industry and the rest of the tourism sectors, especially since Iraq is qualified to use these resources to increase its financial revenues and employ large numbers of workers."

Graduates to set up productive factories and companies, as well as real support for the private sector.

He pointed out that there are "corruption mafias in the sub-districts that stand against the state's plans and programs that are presented by the prime ministers, and that this is a big problem."Raghad Daham  LINK

Chambers Of Commerce: The Rate Of Investment Increased By 70% In Diyala

On Thursday, the chambers of commerce revealed an increase in the rate of investment in Diyala by 70%.  “The investment file in Diyala witnessed repeated setbacks due to security unrest and economic crises in the past years,” said the head of the Chambers of Commerce in Diyala, Muhammad al-Tamimi, in a press interview seen by Takadum, pointing out that “the situation changed in 2023.”

He added, "The investment rate has increased by 70%, especially in the housing sector, which represents 50% of the turnout for investment in general," noting that "5 main reasons stand behind businessmen's confidence in the Diyala environment, the most prominent of which is relative stability."

He pointed out that "Diyala is characterized by a multiplicity of investment opportunities in 7 vital sectors," noting that "unfortunately, some security incidents are being exaggerated from time to time, although they are repeated in other provinces, but the situation is generally stable."

It is currently investing tens of billions of dinars in various service projects in Diyala, especially the housing sector.   https://takadum-news.com/archives/171283

Al-Rafidain announces the imminent launch of the credit card

Political  | 09:26 - 06/30/2023  Baghdad - Mawazine News Al  -Rafidain Bank revealed, on Friday, that the credit card (credit card) is about to be launched.

The bank stated, in a statement, which Mawazine News received a copy of, that "the credit card will be launched soon."  And he added, "The card carries privileges, including lending for a certain amount and according to the salary." https://www.mawazin.net/Details.aspx?jimare=230343

Al-Halbousi: On The Occasion Of The International Day Of Parliamentary Work: We Celebrate The Importance Of The Role That Parliamentarians Play In Legislating Laws

Friday 30, June 2023 14:46 | politics Number of readings: 178  Baghdad / NINA /- Parliament Speaker Muhammad Al-Halbousi praised the role that parliamentarians play in enacting laws, in addition to carrying out the duty of oversight tasks.

Al-Halbousi said in his tweet on Twitter on the occasion of the International Day of Parliamentary Work: We celebrate the importance of the role that parliamentarians play in legislating laws in addition to carrying out the duty of oversight tasks, and we emphasize the role of Parliaments in consolidating democracy, achieving the aspirations of the people, and promoting peace and stability.

https://ninanews-com.translate.goog/Website/News/Details?Key=1062274&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Friday Morning Goldilock post

Good morning Dinar Recaps,

Goldilocks posted some comments and links on global financial news:

“Vietnam’s economic growth is projected to recover in the second half of 2023, reaching around 4.7 percent for the year, supported by a rebound in exports and expansionary domestic policies. Inflation is expected to remain contained below the SBV’s 4.5 percent ceiling. Over the medium term, Vietnam can return to high growth rates as structural reforms are implemented."

This is part of a report the IMF gave on Vietnam at the end of their Article 4 evaluation. It was recommended that Vietnam take the lead now and guide their country through fiscal policy.

Fiscal policy is the use of government revenue collection and expenditure to influence a country's economy.

Government revenue collection is the following: individual and corporate income tax deposits, customs duties, fees for government service, fines, and loan repayments.  

Through the implementation of these reforms, Vietnam's government will be able to sustain their government and influence growth going forward.

For these reasons, Vietnam has been released of Article 4 from the IMF. "IMF Staff Completes 2023 Article IV Mission to Vietnam."

Along with Vietnam's adherence to SOFR lending rates and Basel 3 compliance, Vietnam has over 20 million tons of rare earth minerals valuing at 3 trillion dollars to put them well on their way to economic growth and the revaluation of all of their assets.

© Goldilocks

https://www.imf.org/en/News/Articles/2023/06/29/pr23247-vietnam-imf-staff-completes-2023-art-iv-mission

https://www.vietnam-briefing.com/news/rare-earth-mining-vietnam.html/#:~:text=Vietnam's%20rare%20earth%20reserves,for%20the%20nation's%20economic%20development.

~~~~~~~~~~

"Article IV outlines states’ powers in relation to each other. States have the authority to create and enforce their own laws but must respect and help enforce the laws of other states. Congress may pass Federal laws regarding how states honor other states’ laws and records."

The IMF reported that Indonesia has shown progression since 2022 through their forward-looking reforms to help sustain their economic challenges moving forward.

In other words, Indonesia has become a self-sustaining government capable of moving forward with their own monetary policies.

There are several minerals found and produced in Indonesia such as tin, bauxite, nickel, gold, and copper. Many of these minerals are used in creating electronic vehicles.

These minerals are found in such abundance that the backing of their economy places them on the road to Basel 3 compliance and implementation.

"IMF Executive Board Concludes 2023 Article IV Consultation with Indonesia"

© Goldilocks

https://www.imf.org/en/News/Articles/2023/06/22/pr23229-indonesia-imf-executive-board-concludes-2023-article-iv-consultation-with-indonesia

http://www.imf.org/external/np/sec/misc/qualifiers.htm

https://www.statista.com/topics/4690/natural-resources-in-indonesia/#topicOverview

~~~~~~~~~~

The Commodities Futures Trading Commission (CFTC) issued a no-action letter for moving forward with the Libor reference rates shifting to SOFR lending rates on June 30th.

This no action letter means permission has been granted for today's transition into a new collateralized economy.

USD LIBOR ICE Swap Rates and Moscow Prime Offered Rates were given a nod to proceed.

After today and tomorrow, these new reference rates will begin transitioning our new economy from the old one. The process of moving into real values in our new digital economy has been given the green light.

© Goldilocks

https://www.cftc.gov/PressRoom/PressReleases/8737-23

~~~~~~~~~~

Just in case you are wondering. "IMF Staff Completes 2020 Article IV Mission with Iraq."

Since that time, Iraq had currency reforms to implement and a budget to complete.

They have been reviewed regularly due to ongoing issues with our global economy during Covid-19 to keep them updated with Article 4 conducted by the IMF.

Here is what was said to Iraq on May 31st, 2023 in their closing comments to them from the IMF. "...the mission urges full implementation of the framework for managing government guarantees,"

In other words, the government is capable of moving forward with guarantees backed by their financial reforms that comply with Basel 3 and QFS mechanisms.

© Goldilocks

https://www.imf.org/en/News/Articles/2020/12/13/pr20372-imf-staff-completes-2020-article-iv-mission-with-iraq

https://www.imf.org/en/Countries/IRQ

https://www.imf.org/en/News/Articles/2023/05/31/pr23188-iraq-imf-staff-concludes-staff-visit

~~~~~~~~~~

Iraq, Indonesia, and Vietnam have completed Article 4 with the IMF and are capable of moving forward with their currency reforms.

© Goldilocks

~~~~~~~~~~

We will see some movement in July with our currencies, but August will begin showing us huge changes in leveling off our currencies around the world.

© Goldilocks

Iraqi News Highlights Friday Morning 6-30-23

Iraqi News Highlights Friday Morning 6-30-23

Tlm724 Administrator Bondlady’s Corner

The Dinar Support Committee Is In The Process Of Making New Moves Regarding The Exchange Rate

Money  and business  Economy News _ Baghdad The Higher Committee for Supporting the Iraqi Dinar intends to coordinate a meeting between Prime Minister Muhammad al-Sudani and some merchants to agree on setting concrete mechanisms that limit the problems of exchange rate fluctuations, the rule of the parallel exchange rate in the markets, and control of dollar transactions. 

Committee member Omar Al-Sudani, director of the supervision and follow-up department at the Baghdad Chamber of Commerce, said, in an interview with the official newspaper, followed by “Al-Iqtisad News”, that

“the committee, within its next plan, to diagnose errors and weaknesses that caused the rise in exchange rates in the parallel market, called for the need to support merchants and facilitate He ordered them with regard to taxes after there were many problems in this regard,” adding that

“the committee supported merchants in the Baghdad Chamber of Commerce and the Registrar of Companies, and

prepared simple companies to support medium merchants, as well as

following up on banks and

recommending facilitating their procedures towards merchants, and

coordinating a meeting for merchants with the head of the Council Ministers[to listen to their problems and the possibility of solving them by overcoming the obstacles facing their commercial work.  

 Al-Sudani added, "The committee aims to

support the dinar and

make it the basis for buying and selling in transactions within the country and

adopting the foreign currency (the dollar) in external transactions only,

which reduces pressure on the dollar and leads to a decline in its exchange rates in the local market.

This process, if successful, will achieve price stability and proportionality." With the income of the citizen, who is burdened by the rise in prices as a result of fluctuating exchange rates. 

He explained that "several measures have been put in place to support the dinar, as the central bank has taken upon itself to solve the problem of bank transfers and adopt the platform in this regard despite the repeated complaints of merchants, but

it is a good step to speed up the issue of remittances, in parallel with the simplification of banking procedures from the Baghdad Chamber of Commerce, which merchants complained about."

A lot of them, as the Chamber organized discussion sessions through which merchants gathered with bank representatives to discuss and find solutions, and the rest of the procedures relate to the merchant himself and the extent of his response to the campaign and his implementation of the instructions that the committee provides him with in order to ensure the value of the dinar.  

He continued by saying that "the issue of currency stability is related to government measures more than it relates to other parties, as they are the only ones capable of doing so, through the procedures they take and the extent of their implementation," noting that

"the Baghdad Chamber of Commerce works alongside the merchant who incurred losses as a result of the fluctuation that occurred and its reflection on prices."

And the current recession and the reluctance of citizens to buy, and

it will remain supportive of any measure that would support price stability and raise the value of the Iraqi dinar against the US dollar,

by preventing speculation in the currency and continuous campaigns to urge the merchant to adopt the dinar in his dealings,

as well as government control and preventing currency smuggling and so on. Measures to maintain the stability of the currency.    Views 366   06/26/2023 https://economy-news.net/content.php?id=34900

Al-Sudani: 85% Of Iraq's Trade Takes Place Through The Dollar Platform

Mohamed Shiaa Al-Sudani  Money  and business  The Prime Minister, Muhammad Shia Al-Sudani, said that more than 85% of the financing of foreign trade for Iraq takes place through the dollar platform established by the Central Bank of Iraq.

And the Central Bank, at the end of the year 2022, activated the electronic platform for external transfer, and set new controls with the US Federal Bank, which led to a crisis in the dollar exchange rate. 

He added that Iraq is committed to international standards in financing foreign trade, and that

the exchange rate of the dollar in the parallel market will not remain at this high, after the recent central bank measures.

He pointed out that the citizen can obtain the dollar at the official rate, as it was for the purposes of trade and travel, explaining that the person who goes to the price equivalent to the dollar goes to smuggling and money laundering.

And the Deputy Director General of the Investments Department at the Central Bank, Muhammad Yunus, said that

"all financial transfers are followed up and monitored by the Central Bank of Iraq through the electronic platform, and the cash sale platform (fitr).

He added, "These operations come within the international standards for combating money laundering and terrorist financing, and are compatible with all international norms and laws, and do not affect the reputation of Iraq, the central bank and financial institutions in the event of any defect in those transfers."

He pointed out that "accepted remittances began to increase continuously, and

we expect the central bank to reach very high levels."

Regarding the possibility of the exchange rate of the dollar returning to its previous price, Younis indicated that

"the parallel rate has begun to decline gradually on a daily basis during the past days," pointing out that

"the Central Bank is working hard to solve all the problems that banks and merchants suffer from in the process of financial transfer." Views 352   06/25/2023  https://economy-news.net/content.php?id=34884

At The Official Price, 1315 And 1320 Dinars

Al-Rafidain: Issuing documentary credits via the electronic platform and external transfers

Economy  |06-26-2023, 15:35 | Baghdad today – Baghdad  Today, Monday, Al-Rafidain Bank announced the issuance of documentary credits through the electronic platform and external transfers.

The media office of the bank stated in a statement received by (Baghdad Today) that

"the issuance of documentary credits through the electronic platform at the official price of 1315 dinars to one dollar."  He added,  "Foreign remittances are at a price of 1320 dinars per dollar."

 https://baghdadtoday.news/224882-الرافدين-إصدار-الاعتمادات-المستندية-عبر-المنصة-الإلكترونية-والحوالات-الخارجية.html

Al-Rafidain Reveals That The Credit Card Will Soon Be Launched

 Today, |Baghdad today – Baghdad  Today, Friday, Al-Rafidain Bank revealed that the credit card will soon be launched.

The media office of the bank stated, in a statement received by (Baghdad Today), that "the credit card will be launched soon," noting that  "the card carries privileges, including lending for a certain amount and according to the salary."

 https://baghdadtoday.news/225115-الرافدين-يكشف-عن-قرب-إطلاق-بطاقة-الكردت-كارد-الائتمانية.html

Mazhar Muhammad Salih: There Is No Fear Of Fluctuating Oil Prices For The Budget

Money  and business  Economy News – Baghdad  On Sunday, the economic advisor to the Prime Minister, Mazhar Muhammad Salih, dispelled fears of the impact of oil price fluctuations on the budget.  Saleh said,  "There is no fear for the budget from fluctuating oil prices, because in the current reality it managed for half a year, but its approval will require additional expenditures during the second half of this year."

Saleh added, in an interview with the official newspaper, that "the expenditures will increase from now on, and those expenses will be covered from oil and non-oil revenues, and any financial deficit can be remedied through internal and external borrowing."

Views 187 06/25/2023 -  https://economy-news.net/content.php?id=34895

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The Paradoxes Of Wealth: Misaligned Beliefs About Money

The Paradoxes Of Wealth: Misaligned Beliefs About Money

By Financial Samurai / 06/28/2023

The 2023 Charles Schwab Modern Wealth Survey highlights the many paradoxes of wealth in America. Over 1,000 individuals of all different backgrounds filled out the survey.

Overall, the survey, conducted between March 1 and March 23, 2023, says it takes a net worth of $2.2 million to be considered wealthy in 2023. The net worth amount is the same as it was in 2022 but up from $1.9 million in 2021.

If there's one positive thing a bear market does, it's that it lowers wealth expectations.

In this post, I'd like to look more closely at the data and point out the wealth paradoxes. Americans don't seem to understand what it means to be wealthy. We also don't seem to act according to our financial goals and personal beliefs!

Wealth Paradox #1: Inflation Is Not As Bad As It Seems

The first paradox of wealth is Americans' inability to accept reality. Americans believe inflation is a big negative to lifestyle quality.

High inflation is why the Federal Reserve has aggressively raised interest rates since 2022. However, despite inflation reaching 40-year highs, the amount of net worth necessary to feel wealthy has not increased.

With inflation up between 4% to 6.4% YoY in 2023, it would be logical to believe the net worth required to be wealthy in 2023 would also rise by 4% to 6.4%. If so, the net worth range in 2023 should be between $2.288 and $2.34 million. But paradoxically, the net worth amount stayed flat.

So maybe, the threat of inflation to American livelihoods is overstated. Just as life goes on whether you take action or not, inflation goes on whether you're accumulating more wealth or not.

Wealth Paradox #2: Feeling Wealthy Despite Not Having Enough

48% of Schwab's Wealth Survey respondents feel wealthy, yet the average net worth of those who feel wealthy is only $560K. Yet, we just learned that $2.2 million is the net worth considered by survey respondents to be considered wealthy! A $1.64 million shortfall is huge, especially in terms of percentage.

Therefore, either the respondents are lying about the amount needed to feel wealthy, lying about their net worth, or are inexperienced about how much it really takes to feel wealthy. Or maybe Americans are simply delusional about money.

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

https://www.financialsamurai.com/paradoxes-of-wealth/