Iraq News Highlights and Points To Ponder Wednesday Evening 7-31-24

A Parliamentarian Reveals Gold Smuggling In An “Innovative” Way.. What Is Its Relation To The Rise Of The Dollar?

Economy News – Baghdad  Member of Parliament, Alia Nassif, revealed today, Wednesday, innovative gold smuggling operations, while she mentioned the story of the death of Qarun.

Nassif said in a post on the Aks platform, followed by “Al-Eqtisad News”, that “after more than 5,000 years since the death of Qarun, a new Qarun is born, to become the crocodile of corruption in Iraq,” adding: “In short, there is currently an innovative method to destroy the Iraqi economy, which is to buy gold (local and imported), melt it, turn it into ingots, and smuggle it abroad!”

She continued: “I call on the Central Bank, the Anti-Money Laundering and Terrorism Financing Office, the Organized Crime Directorate, the Federal Integrity Commission, and all regulatory agencies to investigate the sources of funds transferred through the currency sales window to purchase gold and precious metals during 2024, and to verify the validity of the procedures in customs and the Central Agency for Standardization and Quality Control, and to verify the sales operations in the markets and who are the beneficiaries of buying gold.”

She pointed out that "the reason for the increase in dollar sales is the import of large quantities of gold (which are not sold in the markets), but are remelted and smuggled out of Iraq, taking advantage of the difference between the official and parallel exchange rates, in addition to financing suspicious operations and giving legitimacy to money coming through financial corruption and extortion." 2024/07/31 - https://economy-news.net/content.php?id=45778

Experts: Dollar Stability Depends On Creating A “New Platform” With Iran And Syria

Economic  2024/07/31  Financial and economic experts believe that the stability of the dollar exchange rate depends on creating a new platform for trade with Syria and Iran, and dealing with countries banned from the dollar in another currency.

Like the euro or the Chinese yuan.

The exchange rate yesterday in the parallel market was recorded at 149 thousand dinars for every 100 dollars, although the official rate at the Central Bank is 132 thousand dinars for every 100 dollars. Economic researcher Mustafa Al-Faraj said in a statement to “Sabah” that “the parallel market for the dollar is facing great pressure

By traders and travelers to Iran, Syria and other countries banned from using the dollar,” noting that “this increases the demand for the dollar and thus prices rise.”

He pointed out that "the solution to this problem lies in finding a new platform with these countries and dealing with them in a currency other than the dollar, such as the euro and the yuan, with the importance of finding an appropriate formula for the US Treasury that removes sanctions from our banking sector."

Al-Faraj explained that “Iraq lacks economic diversity and is completely dependent on oil, which has weakened other economic sectors,” explaining that supporting the productive sector can limit the drain on hard currency for imports.

For his part, the official spokesman for the currency market in Sulaymaniyah, Jabbar, explained:

Kuran said that “the rise of the dollar this time is not linked to a political or economic crisis or external factors, but rather is linked to the measures of the Central Bank of Iraq, and it is possible that the bank will control this.”   Height".

The Central Bank called for "taking measures that could reduce the dollar shortage in local markets."

In addition, economic researcher Alaa Al-Fahd expected the dollar exchange rate to gradually decrease in the coming days, explaining that this increase is common with the implementation of any new policy by the Central Bank of Iraq, as speculators try to exploit this in order to increase their profits.

He added, "The Central Bank of Iraq has discussions and procedures with the US Federal Reserve in order to control the exchange rate in the parallel market, and we hope that these discussions will yield positive results." https://alsabaah.iq/100272-.html

Economist Explains The Objectives Of Monetary Policy: Reducing Unemployment And Achieving Stability Of The Local Currency

Posted On2024-07-30 By Sotaliraq   Economic researcher Diaa Al-Mohsen explained the objectives of monetary policy in the country, explaining that it reduces unemployment rates and achieves stability for the local currency against foreign currencies.

Al Mohsen said, “Monetary policy is adopted to control the profit rate paid for short-term borrowing, to allow for a reduction in inflation rates or interest rates, ensuring price stability and high confidence in the value and stability of the local currency.” He noted that “monetary policy has other objectives, the most important of which may be achieving GDP stability and reducing unemployment rates.”

Al Mohsen added that “monetary policy aims to achieve stability of the local currency against foreign currencies, as the monetary authority is responsible for implementing monetary policy, which includes two types of policies that differ from each other. The first is called an expansionary policy, as it works to reduce interest rates imposed on loans.

Here, this mechanism works to increase demand for loans for investment purposes, which results in increased demand for investment goods and increased demand for goods and commodities.” He pointed out that “this mechanism works to increase demand for labor for the purpose of expanding production to meet the growing demand, as we notice here the consumer’s lack of interest in keeping cash. ‘

This policy ensures the decline of the local currency against foreign currencies, and then the foreign investor can put his money in to buy local goods at a lower price than usual, which increases demand for these goods, which increases the accelerating multiplier, which results in an increase in wages and a decrease in unemployment rates.”

“The other policy is the opposite of the first, and we call it a contractionary policy. Here, the monetary authority works to raise interest rates to withdraw the largest amount of local currency available in the market.

When interest rates are high, we find that consumers are less willing to buy goods and services. On the other hand, we find that consumers are more willing to save because interest rates are rewarding. ‘

However, this negatively affects investment, due to the high interest rates imposed on loans, which results in reducing opportunities for increased production and increasing unemployment rates. We also notice that investors are not willing to buy locally produced goods because their prices are high compared to their foreign counterparts,” Al Mohsen added.

He continued, “Monetary policy is a necessity undertaken by the monetary authority, in order to maintain the stability of the monetary system. The above is also fundamentally linked to the ability of the monetary authority to monitor the market in the cases of expansion and contraction. It is also necessary to remember the necessity of having a developed financial market.”

The problems of the banking sector and its urgent need for radical reforms in the monetary and supervisory policy of the Central Bank, and the creation of effective mechanisms to reduce corruption and ensure transparency in the management of public funds to achieve real and sustainable economic development in Iraq, are highlighted. With the ongoing dollar crisis and the absence of effective solutions, there must be a real need to establish a monetary policy that establishes the foundation for creating economic stability while preserving the country’s interests and putting an end to the US Federal Reserve’s sanctions against Iraqi banks.  LINK

MP: The Iraqi Banking Sector Is Being Executed In Favor Of Arab Banks

Policy  ,  07/31/2024 10:38  , Number of readings: 168  Baghdad - Iraq Today:   MP Alia Nassif Jassim expressed her dissatisfaction with the current situation of Iraqi banks, considering that there is an “execution” of these banks.

The MP wrote in a recent post on the X platform, “This is how Iraqi banks are being executed! A license was granted to the Jordanian Arab Bank and the Emirates Union Bank to work in #Iraq and they will start their work at the beginning of next September alongside the National Bank

 The license will also be granted to two banks (Kuwaiti and Qatari), while many Iraqi banks continue to stop and more of them will stop due to the management of the Central Bank of Iraq, which did not. address the problem during the past period, but rather worked to enter them into contracts with K2 and pay them money without result!

The banking sector is being punished for mistakes made in previous years during which it was under the supervision of the same current management of the Central Bank, so why was this management not punished for failure to fulfill its duty to supervise the work of these banks?”

These statements come at a time when the banking sector in Iraq is witnessing major challenges, with increasing criticism of the Central Bank's management.  LINK

Parliamentary Integrity: Transparency Is Absent In The Dollar Auction

July 29, 2024  Baghdad/Al-Masala: The Parliamentary Integrity Committee accused, on Monday, the Central Bank of Iraq of not being transparent regarding the dollar auction, and not providing data on the destinations where hard currency is spent, stressing that it will hold the bank’s governor, Ali Al-Alaq, accountable.

Committee member Hadi Al-Salami said, “There is a lack of transparency in the dollar auction, and the daily bulletin is not disclosed to know where the dollar goes and is sold through the auction. The bulletin is still secret, and only the amount of dollars sold is announced, and we do not know where this amount goes.”

He pointed out that "there is a parliamentary movement to hold the Central Bank Governor, Ali Al-Alaq, accountable, and the first step is to direct an oral parliamentary question, and we are waiting for his presence inside the parliament dome for the purpose of holding him accountable."

He added, "There is an effort by some representatives to question the Governor of the Central Bank, Ali Al-Alaq, due to the failure, especially in the issue of controlling the dollar exchange rate, which is still significantly higher in the parallel market than the official price."

Al-Salami stressed that “some blocs and parties refuse to question the governor of the Central Bank, as there is political protection for him, despite the failure in tasks and work, and there are indicators and observations in the work of the Central Bank, especially the currency auction.” https://almasalah.com/archives/97046

Advisor: Budget Implementation Instructions {Procedural Issue}

First  2024/07/31    Baghdad: Shaima Rashid  The Prime Minister's Financial Advisor, Mazhar Muhammad Salih, stated that the budget schedules have become a reality, and that issuing implementation instructions to institutions is a "procedural matter" that does not affect financial obligations.

Saleh told WAA: “The legal options available to implement the provisions of the federal general budget have become more flexible for the federal financial authority, in addition to the availability of the federal financial management law itself, which allows financial transactions - even if any approval of the general budget formalities is delayed in principle - especially allowing the continuation of spending or disbursement on investment projects approved in the three-year general budget as ongoing projects, as well as operational spending, or any financial transactions.”   https://alsabaah.iq/100297-.html

Al-Sudani's Advisor: Budget Implementation Instructions Are A Procedural Matter

Money  and business  Economy News – Baghdad  The Prime Minister's Financial Advisor, Mazhar Muhammad Salih, stated that the budget schedules have become a reality, and that issuing implementation instructions to institutions is a "procedural matter" that does not affect financial obligations.

[rtl]Saleh said: “The legal options available to implement the provisions of the federal general budget have become more flexible for the federal financial authority, in addition to the availability of the federal financial management law itself, which allows financial transactions –

even if any approval of the general budget formalities is delayed in principle - especially allowing the continuation of spending or disbursement on investment projects approved in the three-year general budget as ongoing projects, as well as operational spending, or any financial transactions.” Views 62 2024/07/31 https://economy-news.net/content.php?id=45764

FRANK26….7-31-24……REACHING OUT

KTFA

Wednesday Night conference Call

FRANK26….7-31-24……REACHING OUT

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=XugoEWeJWKM&t=15s

Wednesday Evening News With MarkZ 7-31-2024

Wednesday Evening News With MarkZ

MarkZ  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: Tomorrow is August, another month gone with no RV …

Member: I have a feeling August will be our lucky month

Member: Mark, Do you really feel in your heart we are close?

MZ: I do…..but this wait is painful though. Painful to be this close and not cross the finish line yet while people are giving up hope.

Member: Mark a couple weeks back you said multiple military contacts gave you a date around August 4th, to be done with everything before that..... You still feeling hot and fuzzy about that Intel?

MZ:  Rumors -they are still saying between now and the 5th. Nobody knows the timing but it’s what many are looking at.

Member: (From Dinar Guru)  Militia Man  The US Treasury will not wait.  They can act at a moment's notice.  That is coming from the higher-ups.

MZ: Some of my favorite news today comes directly from MilitiaMan. Normally I would not hijack something like this but think it’s very important. We  possibly have him joining us Friday morning with Mr. C

MZ: “ Government Advisor ; Budget Implementation Instructions (Procedural Issue) “ They reiterated that the budget tables do not need to be posted in the Gazette. The budget has already been approved for 3 years. It is perfectly legal and they have worked through the implementation thereof.

MZ: So why are they not posting budget tables in the Gazette? I think there is an important reason – like a different value on the dinar.

MZ: The chatter I am getting out of Iraq is fantastic. What have they gotten done?

MZ: The Iraqi government has their stuff cleaned up…..They have worked things out with the Kurds…..We are looking at HCL approval any day now…..Ascending to the WTO……they have come out of Chapter 7 requirements from the UN and the World Bank……It is exciting to see where we are at right now with this progress.

MZ: Bond side is still wicked quiet. At least my contacts are. And no word out of Reno. Its painfully quiet

Member: Do you still think multiple currencies in the first basket?

MZ: Yes I do.

Member: (From Dinar Guru) Guru Jeff  Article: "Four counties meet in Baghdad to support the development road project" ...You have to look at their timing.  They finished the 5-year development plan around the end of July walking into the beginning of August.  Why? Timing.  They're about to revalue.  Their actions strongly suggest to me personally IMO I really feel they're going to be revaluing in August. 

Member; Hope he’s right

Member: How soon after the HCL is signed, sealed and delivered will the pipeline to Turkey be turned on? Is that still a good marker for us?

Member: Question: If The HCL Was Passed, Is There Anything Else Holding This Up ???

Member: I'm immune to getting excited. when this actually does go I hope it comes back to me on how to get excited. lol. I do believe we are on top of this thing now though. everything crossed.

Member:  Mark Z you are keeping a voice of reason in this community which we all need… if you look at the basics of this thing it is coming… thank you for keeping your head on your shoulders for us brother

Member: good night and sweet RV dreams…..

CBD Gurus join the stream tonight ….Please listen to replay for their information

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

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

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/

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.

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

Youtube:    https://www.youtube.com/watch?v=Jx7_KQLNucc

More News, Rumors and Opinions Wednesday PM 7-31-2024

KTFA:

Clare:  urgent ...Integrity Commission announces receiving one of the most prominent defendants in the “theft of the century"

7/31/2024

The Integrity Commission announced that it had received one of the most prominent defendants in the theft of tax deposits known as the “Theft of the Century” case.

The Integrity Commission praised the cooperation of the Federal and Regional Ministers of Interior.

According to Iraqi officials, the scandal revolves around illegal cash withdrawals from the country’s General Tax Authority in 2021 and 2022 totaling about $2.5 billion, a huge sum even in a country that consistently ranks among the world’s most corrupt.

An Iraqi businessman named Nour Zuhair, who has become one of the most prominent suspects in the case, has recovered about 380 billion dinars ($292 million) in stolen funds since his release on bail in November 2022, the head of the National Integrity Commission, Haider Hanoun, told Reuters earlier. Zuhair has publicly asserted his innocence of all charges against him.   LINK

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

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

Militia Man :  The US Treasury will not wait.  They can act at a moment's notice.  That is coming from the higher-ups.

Jeff  Article: "Four counties meet in Baghdad to support the development road project" ...You have to look at their timing.  They finished the 5-year development plan around the end of July walking into the beginning of August.  Why? Timing.  They're about to revalue.  Their actions strongly suggest to me personally IMO I really feel they're going to be revaluing in August. 

Frank26  The bad guys in Iraq, whoever they may be, they just don't want the monetary reform.  They don't want it to happen.  You know that.  That's the reason why we don't have the monetary reform of the Iraqi dinar.  Because of the corruption that is occurring inside of the the government of Iraq.  But  Sudani is in good control...He sure is.

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

Tishwash:  Moeen Al-Kadhimi: Corruption dates back to Saddam’s time.. Is the budget error an employee oversight?

Ask about the Sudanese objection

Badr Organization leader Moeen Al-Kadhimi, a member of parliament’s finance committee, said that the prime minister’s objection to the existence of different versions of the budget and the addition of large sums is now being justified as an “error and oversight” made by employees, but shouldn’t we ask the “accomplices” about the truth of what happened? Expressing his belief that corruption dates back to the era of Saddam Hussein and has now evolved and become more complex.

Moeen Al-Kadhimi, with the media figure Khitam Al-Gharawi:

Going too far with public money has become a culture and has reached junior employees, and this needs to be reconsidered. This has been going on since the previous regime, and now officers are not given leave or transferred soldiers unless there is something in return for that, even though managers and officials have cars, protection and good salaries, so why do you extend your hand to ill-gotten money, and it is sometimes considered cleverness? This culture needs real treatment.

(An example of corruption) is the change that occurred in the budget tables. Some ministries, such as the Ministry of Commerce, had large amounts added to the food ration item. Who will benefit from this and who colluded with them? The explanations and justifications that are being put forward are that this was an employee mistake!

There are protocols signed between Iraq and countries such as Russia, Saudi Arabia, the Emirates, Lebanon and Jordan because these countries did not respond to demands to return the money even if they knew it was smuggled because they benefit from it, and some of these countries grant citizenship to the person and consider him a citizen of theirs. An example of this is the case of Ayham al-Samarrai, the former Minister of Electricity, who was imprisoned in the Salihiya Police Station, and an American force came and got him out and escaped, and now he lives in America.

Some of the protocols signed with countries give enough space to recover the money, but other countries do not accept this, such as Switzerland, which prefers that the money remain in its banks, and is prepared to grant citizenship to the Iraqi in order to provide him with protection and keep the money, especially for executive officials.

The government has a duty to follow up on general managers, and unfortunately, until now, there are some managers who consider the position a spoil that they want to benefit from. Sometimes this is clear to see. Yesterday, I had a call regarding the issue of security clearances, and I came across an official in a company, and we clearly noticed that he was corrupt, because all matters pass through him, he approves them and covers them up, and action was taken.

The Integrity Commission, through our conversations with them, has two problems. The first is internal, which is the lack of cooperation from some ministries and departments, which are negligent in research and auditing and do not provide priorities. The second is the lack of cooperation from the countries to which the corrupt flee. link

"US Taxpayers Owe $3/4 Million Each, It's the Biggest Banana Republic of All" –

Mike Maloney:  7-30-2024

Today, Mike Maloney dives deep into the shocking reality of US debt, revealing that each taxpayer owes around $750,000.

He celebrates Argentina's new libertarian president, Javier Milei, for his bold economic reforms that have rapidly improved the nation's financial health.

Mike contrasts this with the biased and manipulative nature of today's US media. Discover in today’s video why he believes fiscal responsibility and adherence to economic laws are crucial for a nation's prosperity.

https://www.youtube.com/watch?v=Auq3SVDLmWc

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 7-31-24

Good Afternoon Dinar Recaps,

RUSSIA LEGALIZES BITCOIN AND CRYPTO TRANSACTIONS FOR GOVERNMENT AND BUSINESSES

"In a significant legislative move, Russian lawmakers have passed a bill permitting businesses to use Bitcoin and other cryptocurrencies in international trade, according to a report by Retuers.

 This development is part of Russia's strategy to circumvent Western sanctions imposed following the invasion of Ukraine. The new law, expected to take effect in September, aims to address delays in international payments, particularly with key trading partners like China, India, and the UAE."

"Central bank Governor Elvira Nabiullina, a proponent of the law, announced that the first cryptocurrency transactions will occur before the year's end. The central bank will establish an "experimental" infrastructure for these payments, with further details pending."

"The legislation also includes regulations on cryptocurrency mining and the circulation of other digital assets but maintains the ban on cryptocurrency payments within Russia. The central bank highlighted that payment delays have caused an 8% drop in Russian imports in the second quarter of 2024.

"Despite efforts to shift to trading partners' currencies and develop an alternative BRICS payment system, many transactions still rely on dollars and euros via the SWIFT system, risking secondary sanctions. Nabiullina emphasized that these sanctions have complicated import payments, extending supply chains and increasing costs."

" Anatoly Aksakov, the head of the Duma lower house of parliament, reportedly told lawmakers, "We are taking a historic decision in the financial sphere" by passing this legislation. "

@ Newshounds News™

Read more:  Bitcoin Magazine

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DIGITAL RUSSIAN RUBLE SET FOR MASS DISTRIBUTION JULY 2025

"MOSCOW, July 30. /TASS/. If the digital ruble is successfully tested its mass introduction is possible starting July 2025, Russian Central Bank Governor Elvira Nabiullina said addressing the Federation Council (upper house of the parliament)."

"Now I can say that if everything goes as we plan further on, with pilots implemented successfully, we will be able to shift from tests to massively introducing the digital ruble from July 2025. We target those dates, though it will be a gradual process, a gradual process of using digital rubles," she said.

"Russian President Vladimir Putin said earlier that the platform of digital ruble showed efficiency and reliability as it was tested."

"The Bank of Russia has been implementing a pilot project with real digital rubles since August 15, 2023. At the first stage, active operations are tested, such as opening wallets in digital rubles for banks and clients (individuals and legal entities), transferring digital rubles between clients, and payments at trade and service enterprises."

@ Newshounds News™

Read more:  TASS

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Statement of Commissioner Caroline D. Pham in Support of Foreign Boards of Trade Final Rule
July 29, 2024

I support the Foreign Boards of Trade (FBOT) Final Rule because it promotes access to markets for U.S. participants, competition, and liquidity.  I would like to thank Maura Dundon, Roger Smith, and Alexandros Stamoulis in the CFTC’s Division of Market Oversight for their work on this rulemaking.

I will reiterate key points from my statement on the FBOT proposed rule. [1] As a CFTC Commissioner, I have made it clear that I believe in good policy that enables growth, progress, and access to markets.[2]  

Accordingly, I am pleased to support Commission efforts that take a pragmatic approach to issues that hinder market access and cross-border activity.  I continue to believe that this rulemaking exemplifies policy that ensures a level playing field, and I applaud this step in the right direction for market structure.

FBOTs have been a critical piece of the CFTC’s markets for decades and provide access for U.S. market participants to non-U.S. markets in realization of the global economy and international business.[3]  

The main substantive amendment in the FBOT Final Rule is to Regulation 48.4, which will now include

1. introducing brokers (IBs)[4] as a permissible intermediary,  in addition to
2. futures commission merchants (FCMs),
3. commodity pool operators (CPOs), and
4. commodity trading advisors (CTAs),

to enter orders on behalf of customers or commodity pools via direct access on a registered FBOT.[5]  

I believe that the FBOT Final Rule will provide more choice in brokers and broker arrangements for U.S. market participants that trade foreign futures and ensure that appropriate customer protections are in place.

As sponsor of the CFTC’s Global Markets Advisory Committee (GMAC),[6] I have devoted a significant part of my Commissionership to supporting solutions that will enhance the resiliency and efficiency of global markets.[7]  The FBOT Final Rule is policy that mitigates market fragmentation and the associated impact on liquidity, and promotes the overall competitiveness of our derivatives markets.  I am pleased to support the FBOT Final Rule.

@ Newshounds News™

Read more:  CFTC

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GOLD ON THE MOVE with Fed Rate Cut Speculation

"The latest economic data has sparked renewed optimism in the gold market, with prices climbing over $20 as investors digested signs of cooling inflation and robust economic growth"

"The central bank’s actions in the coming months could have far-reaching implications for gold prices and the broader financial landscape."

@ Newshounds News™

Read more:  Dedollarize News

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Bank of England seeks feedback for wholesale CBDC trials

Today the Bank of England published a discussion paper on innovation in money and payments. While it covers payments across the board, it aims to gather feedback for planned wholesale central bank money trials. This will include both a wholesale central bank digital currency (wCBDC) and a synchronization solution enabling DLT transactions to settle using the real-time gross settlement (RTGS) system.

The report states, “We judge that these risks are an  order of magnitude greater than the risks posed by retail use cases.”

At a retail level, the UK is now testing tokenized deposits through the Regulated Liability Network initiative. However, the paper warns of the need for progress. “Commercial bank money needs to keep pace with the needs of consumers and so carry functionalities to deliver safe and sustainable innovation in payments,” wrote the authors. “Absent such innovation, central banks may be left as the only game in town insofar as retail payments innovation is concerned.”

Regarding the wholesale CBDC trials,
in conjunction with the BIS Innovation Hub, the Bank already ran Project Meridian, which enabled a digital real estate transaction to settle via connectivity with the RTGS. Currently it’s running Project Meridien FX with the European Central Bank.

The paper outlines a series of planned wholesale tests for both the wCBDC and the synchronization solution. It envisages the latter as being a third system that integrates between the RTGS and various DLTs. It wants to run the tests side-by-side so it can make comparisons between the wCBDC and synchronization risks and complexity.

The tests encompass delivery versus payment (DvP).  Other uses cases will involve payment versus payment (PvP). Synchronization is already being trialed as part of Project Meridian FX, but it also wants to explore wCBDC.

Finally, it will test interoperability with global initiatives such as the BIS Project Agorá for cross-border payments in which the Bank is a participant.

@ Newshounds News™

Read more:  Ledger Insights

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UAE residents can now trade crypto directly with their bank accounts

The new integration enables the direct conversion of UAE dirhams into Bitcoin and Ether using M2’s spot market.

Crypto exchange M2 announced that it will allow residents in the United Arab Emirates to buy and sell Bitcoin and Ether directly using their bank accounts.

In an announcement shared with Cointelegraph, the digital asset custodian said that the new integration allows UAE residents to directly convert their dirhams into Bitcoin and Ether. Through trading pairs listed on M2’s spot markets, users can trade BTC and ETH for dirhams and vice versa. In addition, users can also deposit and withdraw dirhams.

The M2 team believes that the new integration enables users to “swiftly adapt to market changes,” allowing them to easily convert their local currency into crypto.

Wider accessibility of virtual assets in the UAE
According to M2, the new integration allows the exchange to expand its offerings amid a rapidly evolving landscape. The team also believes the new integration is a milestone for the “wider accessibility of virtual assets in the region.”

Kimmel told Cointelegraph that the new integration could also help everyday investors, especially those who are not “fully entrenched” in the nuances of the trading environment.

UAE is one of the world’s “strictest” in consumer protection.  In addition, the executive highlighted that this move is also regulated by the UAE government, which he described as one of the world’s “strictest regulatory frameworks” that prioritizes consumer protection.

@ Newshounds News™

Read more:  Coin Telegraph

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HOW MUCH MONEY IS IN CRYPTO?
HAVE YOU EVER CONSIDERED THE MARKET CAP ON THE LARGEST CRYPTOCURRENCIES?

IT MIGHT SURPRISE YOU

1. BITCOIN               1.3 Trillion
2. ETHEREUM         398 Billion
3. TETHER-USDT    114 Billion
4. BNB                        86 Billion
5. SOLANA                 84 Billion
6. XRP                        35 Billion
7. USDC                     33 Billion
8. DOGE                     18 Billion
9. TON                        17 Billion
10. CARDANO ADA   18 Billion        

@ Newshounds News™

Read more:  Coin Market Cap

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What Is Market Capitalization?

"Market capitalization, or "market cap," represents the total dollar market value of a company's outstanding shares of stock. Investors use this figure to determine a company's size instead of sales or total asset value."

"Market capitalization estimates a company's value by extrapolating what the market thinks it is worth for publicly traded companies and multiplying the share price by the number of available shares. After a company goes public and begins trading on an exchange, its share price is determined by supply and demand. As market prices move, the market cap becomes a real-time estimate of the company's value. "

Market Cap and Digital Currency
Because new digital currency offerings theoretically thin the value of existing coins, tokens, or shares, a different market cap formula can be used to calculate the market cap for all authorized shares or tokens. Analysts use diluted market cap to understand potential changes to a security, token, or coin's price."

@ Newshounds News™

Read more:  Investopedia

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Bruce’s Big Call Dinar Intel Tuesday Night 7-30-24

Bruce’s Big Call Dinar Intel Tuesday Night 7-30-24

Transcribed By WiserNow Emailed To Recaps

Welcome everybody to the big call tonight. It is Tuesday, July 30th  and you're listening to the big call. Glad everybody could join us. We're starting a little bit late tonight. I had a call that I was expecting a little earlier, that came in late, and it's good, because we got some good last minute intel that I'll share in my Intel segment. So – glad everybody could join --

Let's talk about let's talk about where we are on an Intel point of view. I told you guys I was late to the call getting some last minute intel that fortunately came in, but I was a little bit late getting on the call, like 10 minutes late to get there. But it's okay, it’s good.

So what’s been happening -  we have been looking forward, I believe on Tuesday night, I knew we were getting close to the end of t he month, and when that happens, like it did this week, because we're so close to the end of the month. Tomorrow's the last day of the month, 31st Wednesday.

I said -  Okay, here we go. More than likely going to get notifications and possibly start on the first of August. Well, that is pretty much what we're getting right now.

The the thing that there's sort of the last minute, I don't know how last minute was. It was something that was holding this up, evidently, there were five small banks in Iraq that were still exchanging with Iran in USD fiat currency. You guys know that the Fiat dollar is basically dead everywhere except here in United States.

Canada's not using it, Mexico's not using it, Vietnam is not using it, and Iraq is not supposed to be using it. So as the Fiat dollar, our current Fiat dollar is being taken to an absolute minimum, they're collecting and trying to eliminate banks that are using it -  and there were five small banks in Iraq  that we're doing this trading , initially with Iran  and the Treasury consolidated those five banks into one entity and took took it over, so to speak, so that wouldn't happen anymore. That was an issue that was solved  in the last couple of days. So that's fairly recent

The other information is that today, some of the bankers and some of the paymasters  are tied in with Wells Fargo and HSBC and Bank of America were working together – the information consolidated and working to basically get everything finished.

For example, a meeting today supposed to go three and a half hours with five and a half hours, and that was some of the information that I got late, and it just looks like everything was this has been a situation the last couple of days where we should have had, you know, results, and that we heard,

What day was it? Friday night - And I think even last night, Monday, they were setting up, late to get everything lined up, everything ready to go, so that this could happen. Now, well, it ends up - see where we going with this one -. It ends up that the meetings have finally come to an end.

There are emails that have gone out to some of the pay masters that are involved in bonds and paying out their bond holders that they're working with, and we know that, you know, they're waiting for four emails to come out, one from Wells, one from Bank of America, one from HSBC and an email from Treasury.

Well, the last day or so they got the emails from each bank, but not from Treasury. And so the one from Treasury was to give the so called green light to let us know when we're not well. It's so strange because we had confirmation on bank emails, and that was all good, but where is the Treasury email?

Well, we finally got confirmation that the Treasury email did come out of prescribed time about three hours later tonight, and the whole thing is okay, we've got that now. We understood  that some of the paymasters were going to be able to receive that email, be able to key in their passcode and ID, and then they would be able to fund their  bondholders monies, because we knew the money was moving around and was ready to be utilized and moved into these accounts.

And it was money moving in to the banks for our accounts, for exchanges, for 4b so where that went was all four emails were finally received, but when certain paymasters entered their passcode and Id ends up spinning icon on their screen. In other words, you never notice how sometimes the computer just or YouTube just seems to just pause, and you kind of go, what? Why isn't it rolling?  Why isn't it why are we playing? Why isn't this YouTube playing and it's just giving you this rolling circle of nothingness?

Well, that is where we are right now, and the paymasters were told - just leave it on - Don't monkey with it. Leave it alone and let it resolve in the morning. This is the theory. It should resolve in the morning.

Now why am I bringing all this minutia up, because when that does happen -  that is our green light. Now we can say that we have the green light from Treasury, but until that information gets loaded in so those funds  can go to bond holders accounts. Now we need for this to go, and we are kind of the most important part of all this happening, because when we get started, okay, when we  might have to take That's  wait one second -  Might have to take this one second.  - I'll complete that fundamental.   Hold on. -  let me finish that thought, you guys,  as I get my brain right.

Okay, so when they get this icon, let's call it spinning circle to clear - it's going to be good, because it's going to tell us that we have the green light and we're ready  to move forward –

What we’re hearing  from these pain masters. Is everything is complete – everything is ready with Iraq -  they hot the problem solved that I mentioned – and it’s ready to move – we’re ready to move forward.

 We're being told we should either get notified tomorrow, which is the last day of the month, Wednesday - start exchanges on Thursday the first of August or they'll get notified Thursday morning and get started Thursday – either way we win.

But this is interesting, that that we're getting down to the wire - we've got good information that's saying that it's ready to go – the green light has been sent Treasury, and now we just need for the paymasters to move funds.

And I remember the thought I had – here’s the thought -  by us going in for our exchanges and our and our redemption of Zim - we are hydrating the banks. When we exchange and put money into these accounts that we are opening – not the quantum  account, but the  Wells Fargo  primary account, I thought, right, when we do that, we're beginning to hydrate the banks  because some of the banks are essentially – almost bankrupt.

They don't have the funds - we're going to rehydrate those banks. And remember the people that are redeeming us and exchanging our currencies, they also pick up point  zero two percent - .025% of the transaction, the bank also picks up point zero two five percent - .025% -  that actually turns into some real money. That little tiny percentage of 25 hundredths of a percent will turn into real money.

So by us doing that in especially with Zim, in other currencies as well with Zim, it will really begin to stabilize the banks. And that's a very, very positive aspect for us  - to see that going there.

Now, what else is going on again? Looks like we should get notified tomorrow  and if not, we should get notified Thursday morning and start Thursday so be prepared for that.

This should be a really good end of the week, first, first part of August. I told you guys, we should have R and R, restitution and reclamation allowance in the first week of August, and that is going to be great. So and that applies to people that are 28 years of age and olde – Now if you are already getting Social Security, or you're 60 and older, 62 and over, getting social security in the same bank account where your Social Security is being direct deposited. Okay, so that's something to look for in the first week of August.

 So I don't think there's a whole lot else that we need to talk about. You know they plan to offer us the contract rate on the dinar that we have if you are a US citizen. Okay   And that's really a very good thing

So let's do this. Let's pray the call out and see. Let's see when the emails hit, whether it's tomorrow, whether it's Thursday, either way we win. Let's pray the call out,

Thank you Sue and Bob - and we will be in touch with you by email after this goes, everybody, have a great night, a great weekend, and let's keep an eye on our emails. God bless you.

Bruce’s Big Call Dinar Intel Tuesday Night 7-23-24   REPLAY  LINK     Intel Begins   57:37

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Bruce’s Big Call Dinar Intel Thursday Night 7-25-24   REPLAY LINK   Intel Begins  1:11:25

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Bruce’s Big Call Dinar Intel Tuesday Night 7-23-24  REPLAY  LINK     Intel Begins   1:07:40

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Bruce’s Big Call Dinar Intel Thursday Night 7-18-24   REPLAY LINK   Recorded Call not available

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Bruce’s Big Call Dinar Intel Thursday Night 7-11-24   REPLAY LINK  Intel Begins  1:11:40

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Bruce’s Big Call Dinar Intel Tuesday Night 7-9-24  REPLAY  LINK     Intel Begins   1:13:20

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Bruce’s Big Call Dinar Intel Thursday Night 7-4-24   REPLAY LINK   NO CALL

Bruce’s Big Call Dinar Intel Tuesday Night 7-2-24  REPLAY  LINK     Intel Begins   1:14:20

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Bruce’s Big Call Dinar Intel Thursday Night 6-27-24   REPLAY LINK   Intel Begins   1:03:30

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Will Canada Beat Japan in the Race to a Total Fiat Currency Collapse?

Will Canada Beat Japan in the Race to a Total Fiat Currency Collapse?

On July 29, 2024 By Awake-In-3D

Maybe Canada should consider Joining the BRICS gold-backed currency system – if only Canada had some gold.

Once a beacon of prosperity and stability, Canada now faces unprecedented challenges.

The nation’s standard of living is plummeting, economic policies are under intense scrutiny, and an increasing number of Canadians are considering leaving the country.

In This Article

• Canada vs. Japan in a Currency Race to the Bottom

• The Decline of Canada’s Standard of Living

• By the Numbers: Canada’s Current Economic Disaster

• Trudeau’s Economic Policies and Their Impact

• Future Prospects for Canada’s Economy

Of course the United States is also in serious decline. However, Canada does not have the luxury of having the world’s reserve currency.

Nor does Canada hold a single ton of gold in her sovereign monetary reserves.

This article details Canada’s troubling decline, offering a comprehensive look at the forces reshaping the Great White North.

Canada’s standard of living is on track for its worst decline in 40 years, according to a new study by Canada’s Fraser Institute.

The study compared the three worst periods of decline in Canada over the last 40 years – the 1989 recession, the 2008 global financial crisis, and the current post-pandemic era.

Unlike the previous recessions, Canada is not recovering this time. Something broke.

In fact, according to the Financial Post, since 2019, Canada has had the worst growth out of 50 developed economies. Inflation-adjusted Canadian wages have been flat since 2016.

Canada vs. Japan in a Currency Race to the Bottom

While both Japan and Canada are major global economies, neither country’s currency is faring very well against King Fiat Dollar this year.

The Canadian Dollar has lost 4.34%of its value year to date while the Japanese Yenb has depreciated 8.43% against the US dollar (see charts below).

CAD/USD Year to Date

JPY/USD Year to Date

While Japan’s 250% debt to GDP is a catastrophic problem with no way out, at least they have built up their sovereign gold reserves to 846 tons as of March of 2024.

Canada, on the other hand, has absolutely zero gold reserves. What are they thinking?

As I will explain below, holding no gold reserves is only the tip of the iceberg as the economic disaster unfolding in Canada paints a very dangerous future for my friends in the Great White North.

The Decline of Canada’s Standard of Living

Canada’s per-person real GDP is still falling, and with a looming US recession, Canada could crash again before it ever recovers.

The US accounts for 75% of Canada’s exports, making its economic health crucial to Canada’s prosperity. Canadian bankruptcy filings jumped 40% last year, while CIBC reports nearly half of Canadians have zero emergency savings.

Additionally, StatsCan reports that Canada’s violent crime rate is up 40% since 2014.

An Ipsos poll found that 7 in 10 Canadians agree that “Canada is broken,” rising to 8 in 10 for those between ages 18 and 34.

The Angus Reid Institute found that 42% of Canadians are considering moving to another country.

By the Numbers: Canada’s Growing Economic Disaster

• Canada’s standard of living is on track for its worst decline in 40 years.

• Since 2019, Canada has had the worst growth out of 50 developed economies.

• Inflation-adjusted Canadian wages have been flat since 2016.

• Canada’s per-person real GDP is still falling.

• The US accounts for 75% of Canada’s exports, impacting Canada’s economic health.

• Canadian bankruptcy filings jumped 40% last year.

• Nearly half of Canadians have zero emergency savings, according to CIBC.

• Government spending has nearly doubled to almost half of GDP.

• Government workers in Canada are growing almost four times faster than the private sector.

• One in three Canadians now work for the government, earning 30% more in salary and benefits than private-sector counterparts.

• Food inflation in Canada is up 25% since the pandemic.

• Energy costs in Canada have risen 30%, partly due to a carbon tax.

• Sales tax in most Canadian provinces is 13 to 15 percent on everything you buy.

Trudeau’s Economic Policies and Their Impact

Justin Trudeau’s administration has been marked by significant changes in economic policy.

Trudeau’s campaign aimed to convert Canada from a mixed economy like the US into a government-dominated economy similar to some European countries.

Under Trudeau, business investment has plunged by a third, while government spending nearly doubled to almost half of GDP.

Canadian Prime Minister Justin Trudeau. Source: True North News

Government workers in Canada are growing almost four times faster than the private sector, and one in three Canadians now work for the government, earning 30% more in salary and benefits than their private-sector counterparts.

This has made it challenging to win an election on a small-government platform, as 40% of voters are directly dependent on government-provided livelihoods.

Future Prospects for Canada’s Economy

In the near term, things will likely worsen because Canadians are stuck with Trudeau through the next election in 2025.

Conservative leader Pierre Poilievre is currently ahead in the polls, but government-funded media efforts to undermine him are narrowing his lead.

This suggests continued inflation, economic decline, mass migration, and rising crime.

Pierre Poilievre, leader of the “Common Sense Conservatives” speaks at a 2023 Town Hall meeting in Nova Scotia. Source: The Laker News

The Bottom Line

Canada is facing a critical period of economic and architectural decline. With flat wages, rising living costs, and a struggling economy, Canadians are experiencing one of the worst periods of decline in recent history.

The future of Canada’s economy remains uncertain, but addressing these issues is essential for restoring prosperity and stability.

Contributing Sources: 

• https://brownstone.org/articles/canadas-worst-decline-in-40-years/

• https://www.fraserinstitute.org/sites/default/files/changes-in-per-person-GDP-Income-1985-to-2023.pdf

• https://financialpost.com/news/canada-standard-of-living-faces-worst-decline-40-years#:~:text=A%20leader%20among%20the%20so,rate%20among%2050%20developed%20economies.

• https://thehub.ca/2024/07/23/theo-argitis-taking-stock-of-canadas-complicated-economy-before-tomorrows-bank-of-canada-decision/

=======================================

© GCR Real-Time News

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BRICS to Leave World Bank: What are alternatives?

BRICS to Leave World Bank: What are alternatives?

Fastepo:  7-30-2024

Are the World Bank and IMF Truly Serving the Global South, or Is It Time for Change? The effectiveness of the World Bank and the International Monetary Fund (IMF) has come under increasing scrutiny from BRICS nations, which argue that these institutions are dominated by Western interests and fail to address the needs of developing countries.

Critics highlight the stringent loan conditions imposed by the World Bank and IMF, which often do not align with local priorities and can exacerbate economic and social challenges.

Indian Prime Minister Narendra Modi has publicly criticized the World Bank's governance structure, describing it as outdated and disproportionately favoring Western nations. Modi has called for a more equitable system that provides greater representation and decision-making power to developing countries.

This stance reflects India's broader push for reforms in international financial institutions to ensure fairer treatment of emerging economies.

South Africa's experiences with the World Bank have also been contentious. The country has faced significant challenges due to the stringent conditions attached to World Bank loans, particularly those affecting its economic policies and social programs.

In the 1980s and 1990s, South Africa was subject to structural adjustment programs mandated by the World Bank and IMF, which included austerity measures, privatization of state-owned enterprises, and trade liberalization. These policies are widely believed to have undermined South Africa's economic sovereignty and increased social inequalities.

 Nobel laureate economist Joseph Stiglitz has been a vocal critic of the IMF and World Bank, particularly in the context of Russia. Stiglitz argues that the rapid privatization and market liberalization policies advocated by these institutions in the 1990s led to severe economic and social turmoil.

These policies resulted in a significant decline in GDP, increased poverty rates, and greater economic inequality, with a dramatic fall in life expectancy and rising unemployment.

 Critics argue that the World Bank's policies perpetuate Western influence, marginalizing the unique economic contexts of Global South nations.

 In response, BRICS has established the New Development Bank (NDB) to support infrastructure and sustainable development projects, providing an alternative to traditional financial institutions.

Geopolitical considerations also play a crucial role in BRICS' stance. The bloc's resistance to Western sanctions and efforts to trade in non-dollar currencies illustrate its push for a more equitable global financial system.

These actions underscore the growing desire among BRICS nations to reduce dependency on the US dollar and create a more inclusive economic order.

This video explores the criticisms of the World Bank, examining its historical Western control and the contentious programs that have had mixed impacts on global development.

 It delves into the reasons behind the Global South's shift towards alternatives like the NDB, emphasizing the need for financial systems that support more sustainable and equitable growth.

https://www.youtube.com/watch?v=XWBcZ1FkQdY

Coffee with MarkZ and Andy Schectman. 07/31/2024

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

MarkZ  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

Coffee with MarkZ and Andy Schectman. 07/31/2024

Member: GM everyone. Love Peace and Joy to all

Member: This is the day the lord has made and we will rejoice and be glad in it!

Member: Any RV news overnight Mark?

Member: MilitiaMan posted twice yesterday

MZ: I can tell you the news coming out of the Kurdish region is great. “The Kurdish government resolved the crisis with Wisdom”  He says Baghdad has no excuses left. They are talking about the HCL and say they have resolved it. They expect Baghdad to rubber stamp the HCL. (Hydro Carbon Law)  I imagine MM is pretty excited this morning.

MZ: We were always told that within hours or a few days they would release the RV after the HCL is finished. It’s a key piece for moving forward with their reforms.

Member: Militia Man's new video IQD Update - Iraq Dinar News - Time to Move - US FED - Not able to Wait - A Moments Notice #2

MZ: I will reach out to MilitiaMan and see if we can bring him on this week.

MZ: I am told they will have the HCL pounded out, signed and official between now and August 5th.

MZ: There is lots of positive chatter from the Iraqi banking sector that they could go(RV?) within that time frame…..fingers crossed …I still hope they roll it out today….It would sure make me feel better.

Member: we are just waiting for the green light to go. everything is ready. let's gooooooooo

Member: I am busy this weekend...can we get notifications today and exchange tomorrow please? Lol

Member: I wonder- Will the pipeline to Turkey go operational when the HCL is signed, sealed and delivered?

MZ: “US Military launches first military airstrike in Iraq in months” They say it was against “Iranian sponsored terrorists.”  In Iraq that had targeted US forces. This should not affect timing….it is against rebel forces that Iraq doesn’t want there either.  We will keep an eye on it.

Member:  (From Dinar Guru) Guru Mnt Goat  ... to get their currency reinstated for Iraq, it is an uphill battle. They must fight, fight these globalists. But some of the problems stem from themselves too as there are measures they could have taken to further manage the dollar, curb corruption and money laundering. But they didn’t.  There are also timelines in the strategic plan to get to the reinstatement that have not been met and need to move ahead now.

MZ: I believe that is correct.

MZ: Bond contacts are still silent.

Member: Has Reno started?

MZ: Not sure how to answer that question

Member: Which bank is safest to keep our exchanged money in?

MZ: If we get the QFS- we won’t have to worry about that. And it will be up to you which bank to put some in to use their “Wealth Management” crew.

Member: My credit union told me 2 years ago they were switching th the QFs

MZ: I surprised more people havn’t noticed all the changes happening to the bank system

Member: Bank story but not the kind we truly like to read about: Credit union app is down which means remote depositing is down. Perhaps it’s just a software issue & nothing to get excited about. But …

Member: Every city I drive thru in NorCalifornia suddenly has one or more new BMO banking centers. A few new tiny Chase centers as well. BMO = Bank of Montreal? Tempted to go in and ask what's going on...

Member: Both of my palms are itching/burning: left: MONEY is coming and Right: Shaking hands with a stranger.. that sounds like a visit with a Banker.. js Let's Go!!

Member: Will the Venezuelan Bolivar RV?

Member: I believe it’s supposed to be in the first basket.

Member: Prayers For our mods and all who come to hear Markz, Mark you are appreciated

Member: Everyone have a wonderful day

Andy Schectman from Miles Franklin jouns the stream today. Please listen to the replay for his opinions and information.

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MilitiaMan: IQD Update - Iraq Dinar News - Time to Move - US FED - Not able to Wait - A Moments Notice #2

IQD Update - Iraq Dinar News - Time to Move - US FED - Not able to Wait - A Moments Notice #2

MilitiaMan and Crew:  7-31-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=EcHMhxdHg3I

Iraq Economic News and Points To Ponder Wednesday AM 7-31-24

Experts: The Stability Of The Dollar Depends On The Creation Of A “New Platform” With Iran And Syria

Economical 07/31/2024  Baghdad: Ahmed Al-Janabi   Financial and economic specialists believe that the stability of the dollar exchange rate depends on creating a new platform for trade with Syria and Iran, and dealing with countries banned from the dollar in another currency. Euro or Chinese yuan.

 Yesterday, the exchange rate in the parallel market recorded 149 thousand dinars for 100 dollars, although the official price in the Central Bank is 132 thousand dinars for every 100 dollars. Economic affairs researcher Mustafa Al-Faraj said in a statement to Al-Sabah that  “the parallel market for the dollar is facing great pressure.”

By merchants and travelers to Iran, Syria, and other countries banned from the dollar,” noting that  “this increases the demand for the dollar and thus prices rise.” 

He pointed out that  “the solution to this problem lies in finding a new platform with those countries and   dealing with them in a currency other than the dollar, such as the euro and the yuan,   with the importance of finding an appropriate formula for the US Treasury  that removes sanctions from our banking sector.” 

Al-Faraj explained that  “Iraq lacks economic diversification and depends entirely on oil, which has weakened other economic sectors,” explaining that supporting the productive sector can limit the depletion of hard currency imports.

 For his part, the official spokesman for the currency market in Sulaymaniyah, Jabbar, explained  Curran said,  “The rise in the dollar this time is not linked to a political or economic crisis or external factors, but rather  it is linked to the actions of the Central Bank of Iraq, and it is possible that the bank will control this.” Height".

He called on the Central Bank to “take sufficient measures that can reduce the scarcity of the dollar in local markets.”

 In addition, economic affairs researcher Alaa Al-Fahd expected a gradual decline in the dollar exchange rate in the coming days, explaining that

this rise is common with the implementation of any new policy by the Central Bank of Iraq, as speculators try to exploit this in order to increase their gains.  He added,

"The Central Bank of Iraq has discussions and procedures with the US Federal Bank in order to control the exchange rate in the parallel market, and we hope that these discussions will produce positive results."     https://alsabaah.iq/100272-.html

  At An American Request, The Iraqi Central Bank Is Moving To Merge Banks Prohibited From Dealing In Dollars

 Economy     breaking     US Department of the Treasury     Central Bank of Iraq     US sanctions     Iraqi banks   2024-07-30   Twilight News/ Informed sources revealed, on Tuesday, the existence of a new American request to the Central Bank The Iraqi bank includes merging banks banned from dealing in dollars in the currency auction.  She said Sources told Shafaq News Agency,

 “The US Treasury and the Federal Reserve A request from the Central Bank of Iraq to merge and close banks restricted from using the dollar Some distressed banks.

She added Sources said,   “The Central Bank of Iraq is required today to take rapid measures to merge And closing troubled banks in order to return to banking, which reflects positively on The exchange rate, and for this reason the

Central Bank contracted with an international company to present a plan for the sector Banking, which will include merging banks and closing some of them.”  And revealed Informed sources said,

 “This company, on the recommendation of the Americans, is similar to the work of K2 Company, without revealing its name or disclosure more details".  https://shafaq.com/ar/اقتصـاد/بطلب-مريكي-المركزي-العراقي-يتجه-لدمج-المصارف-الممنوعة-من-التعامل-بالدولار    

Nassif: The Banking Sector Is Being Punished For Mistakes Made In Previous Years

Member of Parliament Alia Nassif commented on Tuesday after granting a license to the Arab Jordanian Bank and the Emirates Federation to work in Iraq, stressing that this method is killing Iraqi banks.

Nassif said in a tweet on the (x) platform, this method is killing Iraqi banks. A license was granted to the Arab Jordanian Bank and the Emirates Federation to work in Iraq and they will start their work at the beginning of next September, along with the National Bank.

The license will also be granted to two banks (Kuwaiti and Qatari), while many Iraqi banks continue to stop and more of them are stopped due to the management of the Central Bank of Iraq, which did not address the problem during the past period.

She added: Paying them money without results. The banking sector is being punished for mistakes for previous years in which it was under the supervision of the same current management of the Central Bank, so why was this management not punished for failing to fulfill its duty to supervise the work of those banks?!   https://www.radionawa.com/all-detail.aspx?jimare=39029

Iraq’s Reserves Of Liquefied Gas Rise To More Than 133,000 Tons

    Amr Salem July 30, 2024 An employee turns a valve at the Nahr Bin Omar natural gas field, north of the southern Iraqi port of Basra. Photo: AFP

Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil revealed on Tuesday that its output of liquefied gas had increased to over 7,000 tons and that its reserves had reached over 133,000 tons.

 The Oil Ministry’s Undersecretary for Gas Affairs, Izzat Saber, mentioned in a statement that the daily production rate of liquefied gas in Iraq reached 7,370 tons.

 The Iraqi Prime Minister and the Oil Minister both support the gas industry, Saber said, adding that

 the government’s gas utilization projects are the reason behind the increase in liquefied gas output.

The Director of Iraq’s Gas Filling and Services Company, Anmar Ali Hussein, said that the company succeeded in meeting the needs of citizens and service sectors in the capital, Baghdad, and the rest of the Iraqi governorates.

 Compared to the daily rate of gas consumption in Iraq, which is 5,700 tons, there is a surplus in the quantity of gas generated nationwide, according to Hussein.

According to the government plans, Hussein said, there will be several initiatives in the upcoming stage that will aid in the expansion and development of the gas industry.  

https://www.iraqinews.com/iraq/iraqs-reserves-of-liquefied-gas-rise-to-more-than-133000-tons/    

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