Is It More Important To Be Rich Or Happy?

Is It More Important To Be Rich Or Happy?  By JD Roth

Sometimes we in the United States forget how privileged we are. Because of our relative wealth, we can make claims like “it’s more important to be happy than it is to be rich”. In this guest post, Saravanan P of Engineer’s Finance argues that for the poor, money is more important than happiness.

Though this post has been heavily edited, keep in mind that English is not Saravanan’s native language.

Being happy is a state of mind and heart that does not matter whether we are rich or poor. But we can only make statements like “It’s more important to be happy than it is to be rich” when we are rich and not poor.

Being rich always gives us the power to do things at the time we want. In short, it gives us freedom.

Sometimes I think I know just what it means to have money more than Americans do. I have seen people here in India struggle to earn two to three dollars a day working for more than 12 hours. It’s hard, but still people do it.

If we were to ask these people whether they are happy, they would say they are, but are they really? They assume they’re happy and move on with the life. For them happiness is merely having their bread and butter.

If you are poor, you yearn for food and nothing else — money matters more than happiness because without the minimum of money, you don’t eat. After you are rich, you tend to say that happiness is more important because your basics are already met. In fact, perhaps most rich people cannot even imagine a life in which the basics may be out of reach on any given day.

Many people argue that being rich is not as important as being happy. I just have two questions for people who say this:

    When you are in hunger, can you think of being happy?

    When you can’t keep yourself warm during winter, can you think of being happy?

Until you satisfy your basic needs, you can’t think of happiness. Forget about being happy. Once your basic necessities are met and you start living (not surviving), only then does happiness surface.

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

https://www.getrichslowly.org/is-it-more-important-to-be-rich-or-to-be-happy/

Tuesday AM Iraq Parliament News Highlights 5-31-22

Tuesday AM Iraq Parliament News Highlights 5-31-22

The Splits...A Problem That Delays The Decision To Form The Government

Sumerian special  2022-05-31 | 03:38  Source:  Sumerian  449 views  The splits within some political components...a problem that delays the decision to form the government

The issue of withdrawals and splits that took place in some political forces and blocs, in addition to the differences between the one component, angered many who consider the matter a stumbling block in the way of forming a government.

Many question marks are raised by the issue of withdrawals and splits that occur within some political forces and blocs. Their causes are attributed to several things, perhaps the most prominent of which is related to the conflict of positions, which may naturally create additional divisions that will weaken the shape of the political scene that suffers from the crisis of forming a government.

Some believe that the continuation of differences within the components hinders reaching a unified vision to create political stability, as there must be a project regulating political blocs and parties to avoid splits and cracks in their pillars.

Among the reasons for these splits is the absence of democracy, the exclusivity of decision-making and the sharing of positions, which are generally considered unsuccessful steps that gave negative impressions and messages to the popular circles, which reached despair over the course of politics in Iraq.   LINK

5 Parliamentary Meetings Before Today's Session

Political| 12:06 - 31/05/2022   Baghdad - Mawazine News  The Media Department of the House of Representatives announced, on Tuesday, that a number of parliamentary committees will hold meetings prior to today's parliament session.

In a statement received by Mawazine News, the department said, "The Parliamentary Committee on Economy, Industry and Trade is discussing improving the vocabulary of the ration card and the smooth flow of its access to citizens."

The statement added, "The Parliamentary Oil, Gas and Natural Resources Committee is now hosting the Director General of the Oil Marketing Company (SOMO) to review the company's work.

It indicated that the Parliamentary Committee for Culture, Tourism, Antiquities and Media is now holding a meeting to discuss a number of law proposals and decide to host the Minister of Culture." In

this context, the Parliamentary Endowments and Clans Committee hosted, according to the statement, "the head of the Endowment Office for Christians, Yazidis and Sabean Mandaeans."

The statement continued, "The Parliamentary Committee on Agriculture, Water and Marshes is now discussing the third amendment bill for the implementation of irrigation projects No. 38 of 1971." Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=194998

8 Parliamentary Committees Meet Inside The Dome Of Parliament.. this is what I discussed

Policy  2022-05-31 | Source:  Alsumaria news  1,836 views  According to the statement, the Parliamentary Committee on Agriculture, Water and Marshes discussed the third amendment bill to implement irrigation projects No. 38 of 1971.

She indicated that "the Parliamentary Labor Committee and civil society organizations are studying the proposal to amend the NGO Law."

While the Strategic Planning Committee and the Federal Parliamentary Service discussed reactivating the external advisory unit with the University of Baghdad, Al-Mustansiriya and Al-Nahrain University, according to the statement.

And she added, "The Parliamentary Security and Defense Committee held a meeting to discuss its internal system and the proposed science service law." LINK

The Specter Of “Abdul Mahdi’s Fall” Haunts The Formation Of The New Government

Posted On2022-05-31 By Sotaliraq  Baghdad / Tamim Al-Hassan  The specter of the fall of the Adel Abdul-Mahdi government two years ago dominates most of the discussions that are taking place behind the scenes between the political forces to get out of the current crisis.

Most of the views of the political currents are that the broad partnership project, a term recently adopted by the "coordinating framework" group instead of "consensual", will lead us to a clash with the people.

It seems that the state of "political contraction" that began with the recent early elections has reached the most complex episodes, and everyone has stopped presenting initiatives and proposals, or even "tweets."

The number of initiatives from forces inside and outside the crisis and from independents reached 13, while other initiatives are awaiting on the way.

The progress of forming the government stopped at the knot of choosing the president of the republic, and the emergence of what became known as the “blocking third,” according to the famous interpretation of the Federal Court on the quorum of the “president” election.

According to the deliberations between the political forces, everyone is at a "crossroads" over the form of the next government, and the fear of provoking the street again.

Sources familiar with those deliberations spoke to (Al-Mada) that "the most common reasons that divide the views of political forces between forming a consensus government or a majority is what happened in the October demonstrations."

These sources indicate that supporters of the "political majority" project, which is defended by the leader of the Sadrist movement, Muqtada al-Sadr, believe that it is "the project closest to the demands of the street."

And she adds: "The last group believes that what the coordination framework proposes is out of history, and no one will venture to repeat the experience of the Abdul-Mahdi government."

The fear of provoking the street, as happened in 2019, and then the fall of the government, is what pushes the political forces to the “Sadr project,” as the sources say.

The sources stress that "none of the allies of the current leader wants to form a government that does not last more than 6 months, if it is in the same way as the formation of previous governments."

The leader of the current had admitted in mid-May that he was unable to form a government because of the "blocking third", so he decided to go to the opposition for a period of no less than a month.

According to what he understood from al-Sadr's recent tweet, he will remain in the opposition's framework if his rival, the "coordinating framework", is able to form a government.

But the other side has so far not made a single step towards forming a new government, and is relying on foreign initiatives, and the expiry of the last "30 days" deadline.

According to the "Coordination Committee" circles, the latter is sure that any new change in the political crisis scene will not occur until after mid-June at least.

"Most likely, a new government will not be formed without an agreement between the Sadrists and the coordinating framework," said Rasoul Abu Hasna, a former deputy from the Dawa Party.

Abu Hasna has little hope that Sadr will go to the opposition completely, adding: "In that case, the government may be formed from the framework and the rest of the political forces."

Recently, the Coordination Council has softened its demand for a “consensual” government due to the street’s rejection of that term, which reminds of previous governments. Instead, it has started using the word “extended government,” a term used by the leader of the Wisdom Movement, Ammar al-Hakim.

A wing of the "frameworkers" thinks that the term "expanded government" will be a way out of the crisis, which is an intermediate situation between the "consensus and majority" governments, as it will avoid the Sadrist movement the embarrassment of including other Shiite forces in the majority government it calls for without prejudice to the origin of the project.

The coordination framework is on the cusp of launching a new initiative, which, according to some leaks, may satisfy the Sadrists, but with conditions that seem difficult to achieve.

The Sadrists stipulate, according to what is being leaked, that in the event of accepting the formation of an interim government that paves the way for new elections, it must be a “political majority government that excludes Nuri al-Maliki, the former prime minister, and Qais al-Khazali, the leader of Asa’ib Ahl al-Haq.”

And part of these conditions, especially those related to the "prohibited" by the leader of the movement, may return matters to square one, as the "Coordination Committee" refused more than once to give up al-Maliki or one of the formations of the Shiite bloc.

It is believed, according to what is circulating behind the scenes, that Tehran, at the impulse of al-Maliki, is the one who stands every time against any attempts to "splinter" within the bloc.

And recently, some wings within the coordination framework of (Al-Mada) revealed that there are proposals that have not yet reached the initiative stage, in forming a “interim government headed by Mustafa Al-Kazemi that will arrange elections within a year” in a final solution to the crisis from the point of view of the “frameworkers.”

The maturity of these proposals is related to recent developments between the two Kurdish parties, the Democratic Party and the Patriotic Union, where there are leaks that Massoud Barzani, the leader of the Democratic Party, may present a new initiative.

The "coordinating party" prefers to wait until the issuance of a final form of the negotiations taking place between the two parties and the developments of what will happen, before it initiates the presentation of the last paper.

So far, the two parties have formed committees to negotiate to solve the problems between the two parties, while the recent negotiations did not address the crisis of forming a government so far.

In this context, Arafat Karam, one of the advisors to the leader of the Democratic Party, confirmed that the latter has tried, since the beginning of the crisis, to communicate with all the winning and non-winning political forces.

Karam said, according to Kurdish media: "The problem is not the issue of assigning the presidency of the republic to the Kurdistan Democratic Party candidate, but the problem for the other party begins after the election of the president of the republic."

Karam, a former deputy, explained that “the coordination framework sees that the Sadrist movement, as a Shiite party, constitutes a minority in the Alliance to Save a Nation, and believes that this poses a danger to the Shiite component, and if we examine their statements, we find that they stress that the doctrine is in danger, and that the rights of the component in Dangerous, that is why they want to form the largest bloc.  LINK

Calls Escalate To Dissolve The Iraqi Parliament

Posted On2022-05-31 By Sotaliraq An imminent meeting of the Kurdish parties to agree on a candidate for the post of President of the Republic

The Iraqi parliament faces calls for its dissolution in light of the political impasse in the country (EPA)

In the past few days, calls for the dissolution of the Iraqi parliament have escalated as a way out to solve the political impasse that the country is suffering from, after seven months have passed since the elections and the parliament's failure to form a government or elect a president. These calls come at a time when the last deadline given by the leader of the "Sadr movement" Muqtada al-Sadr to his opponents in the Shiite "coordination framework" to form a government is about to expire while he moves to the opposition ranks.

Despite the continuing political stalemate in the country, the Iraqi parliament, in which the tripartite "Save the Homeland Alliance" has a majority, which includes the "Sadr Movement", the Sunni "Sovereignty Alliance" and the "Kurdistan Democratic Party", began discussing and approving a number of bills. Such as the law criminalizing normalization with Israel that was voted on by lawmakers last week.

Parliament also began discussing the controversial and controversial emergency food security support law. While the “coordinating framework” voted in favor of the law criminalizing normalization with Israel, even though al-Sadr was the one who submitted it to Parliament, given that the position on Israel unifies the Shiite house despite the sharp differences within it, the emergency food security support law still faces many difficulties in terms of how to pass it until It does not count as an achievement for Sadr and the current government, which is a caretaker government. On the other hand, political, elite, and legal actors began attempts to pressure the parliament to dissolve.

In this context, a number of political and intellectual forces and parties have filed lawsuits before the Federal Court in order to withdraw legitimacy from Parliament in preparation for its dissolution, amid legal controversy and objections based on the fact that the methods of dissolving Parliament are known and not among them is the Federal Court doing so because it does not represent one of its competencies.

In parallel to moving these lawsuits before the Federal Court to dissolve Parliament, the Federal Court postponed consideration of the lawsuit filed against Parliament Speaker Muhammad al-Halbousi by independent MP Basem Khashan, alleging perjury, until the twelfth of next June.

Although the indications go towards dismissing the case on the grounds that perjury includes only the President of the Republic after presenting the reasons for that, there are those who believe that such cases are considered means of pressure that MPs from within Parliament can resort to, despite the conviction of a large segment of MPs, As it seems, the futility of dissolving Parliament because it may open the door to chaos.

In this context, Siham al-Moussawi, a deputy from the Shiite "coordination framework", says that "the calls for the dissolution of Parliament are very difficult in light of political forces obtaining large parliamentary seats," noting that "dissolving the parliament and holding new elections may expose the political situation to greater problems than currently existing.”

She added that "the current disputes are easier than dissolving Parliament, which harms stability, especially at this sensitive time that the country is going through," noting that its alliance "contemplates resolving differences away from political pressures and reaching an agreement between the coordination framework and the Sadrist movement in order to form the next government."

In addition, the Kurdistan Democratic Party announced, on Monday, an upcoming meeting that includes all Kurdish parties to decide the candidate for the presidency of the republic. At a time when there are no indications of the possibility of resolving the political impasse in the country, the imminent meeting of the Kurdish parties could result from reaching a consensus formula among the Kurds on one candidate for the post of President of the Republic.

In this context, Kurdistan Democratic Party deputy Shirwan Al-Dobardani announced in a statement carried by the official news agency in Iraq that “the Democratic Party is still sticking to the candidate Riber Ahmed for the post of President of the Republic,” noting that “an expected meeting will be held soon between the two Kurdish parties (the Democratic Party and the Patriotic Union). )

And the rest of the other Kurdish political parties to come up with one candidate for the presidency of the republic.” He added that "the Democratic Party does not want to marginalize any Kurdish political forces in Kurdistan," noting that "administrative positions in Kurdistan have nothing to do with the position of President of the Republic." LINK

KTFA Monday Night CC "Color My World International" 5-30-2022

KTFA

Monday Night KTFA CC:

Frank26:  5-30-22…….. COLOR MY WORLD INTERNATIONAL

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

Special Report From Eddie Tonight

Frank’s team is Walkingstick, Petra, MilitiaMan and Eddie in Iraq

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=lPBbj4UmznM

Monday Afternoon Iraq Economy News Highlights 5-30-22

Monday Afternoon Iraq Economy News Highlights 5-30-22

Four Parliamentary Committees Rely On The Emergency Support Law

Posted On2022-05-30 By Sotaliraq   The legal, financial, health, environment and education committees in the House of Representatives threw their weight in an attempt to include in the emergency support law the largest possible number of materials guaranteeing the allocations of several segments, including free lecturers and contract employees, this comes while the Ministry of Finance put its final touches on the 2022 budget. With half of it coming in by June.

And the ministry’s advisor, Abdul Hassan Jamal, said in a statement to Al-Iraqiya channel: “The budget department took into account all the allocations, including lecturers and contracts,” adding, “But we are waiting for the next government, because the current one has no powers that empower it to submit draft laws to Parliament.”

Jamal pointed out that “the financial ceilings have not been definitively determined. We must receive the proposed oil prices by the Ministry of Oil and the quantities of oil sold in accordance with the agreements with OPEC.”

Regarding the emergency support law, he explained that “the current law is similar to the one that was suspended by the Federal Court, and it will serve wide segments.” It seems that opponents of the law have changed their tone towards it, as the representative of the coordination framework, Waad Qaddo, said that the latter, “will reserve some provisions of the law if they are Put it to a vote again in Parliament.

Disclaimer: All published articles represent the opinion of its authors only   LINK

Is The Emergency Support Law Being Challenged Again?.. The Parliamentary Legal Answer

2022-05-30  Yes Iraq: Baghdad   Today, Monday, the Parliamentary Legal Committee ruled out challenging the emergency support law for food security and development, while noting that the way out of passing the budget bill is almost impossible.

The age head of the Legal Committee, Muhammad Anouz, said, “The way out of passing the federal budget bill for the year 2022 has become very difficult and almost impossible,” noting that “the government had an opportunity to present the law before the elections, even if one day it would have been easy, or it would have been. It should amend its internal system at the very least, since the concept of conducting business is governed by the constitutional timing process in that the election of a government directly within a month at the least.”

Anouz added, "There were attempts to compel the government to submit the budget, but the Federal Court's decision hampered this issue, and therefore an initiative took place by the House of Representatives to present the Food Security Law at the very least to move an aspect of social life, especially for the fragile social sectors and segments." .

He pointed out that "the Food Security Law is not expected to be challenged because it is governed by a constitutional provision that conduct of business does not include the submission of legislation. Therefore, an attempt was made, according to Article 60 of the Constitution, for the draft law to come from the government, and the proposed law comes from the House of Representatives and is submitted by At least 10 members of the House of Representatives or submitted by a specialized committee, and this is what happened,” expressing his hope that “the Food Security Law will proceed to secure people’s needs at least in a limited area,” stressing that “the budget will remain unpresentable.”

The Parliamentary Legal Committee confirmed, earlier, the possibility of legislating the 2022 budget law under the caretaker government, noting that the House of Representatives is working to find a legal formula that would allow it to be passed.

The head of the age of the Parliamentary Legal Committee, Muhammad Anouz, said that "the dialogue is still continuing within the committee and the rest of the House of Representatives, in order to find a sound legal formula that allows receiving the 2022 draft budget from the caretaker government."

He added, "The House of Representatives is the supreme legislative body, and it can provide a legislative legal cover that allows meeting the needs of citizens, especially as the wheel of the economy awaits the financial allocations necessary to run the daily lives of citizens."

He continued, "Any talk about the possibility or inability to submit the draft budget does not stand in front of the necessary need of the Iraqi society, especially since there is a need to launch job opportunities and sectors that are waiting for solutions to legislate the budget."   LINK

What Is Not Being Told About..The Future Of The Iraqi Economy To Where?!

https://meqrab.com/img/2022/05/iraq-1.png

MAY 19, 2022   788   Nowadays, China is trying to support its plan in the One Belt, One Road project or the so-called “New Silk Road” by not interfering with geopolitical tensions.

Supporting some countries that constitute a cornerstone in this path militarily, culturally and investment, particularly in the field of energy.

Among the most important of these countries that support it is Iraq, which is considered a key region in the export of oil, as 90% of the revenues of Iraqi imports come from crude oil.

On the other hand, China excels in many fields of technology and infrastructure development , especially that Chinese state-owned companies are the largest investors of oil in Iraq, whether in modernizing or developing infrastructure in this industry even during the extended period of the war and beyond.

After imposing sanctions on Iran, China is seeking today to cover the shortage of oil imports by searching for oil-exporting countries, in a move that would constitute a severe blow to the Iranian oil sector, as the two Chinese oil companies were buying nearly 600,000 barrels per day of Iranian production.

On the other hand, Iraqi oil exports to China increased from zero in 2007 to 270 million barrels annually by 2017, ranking second after Saudi Arabia in the Middle East, where Iraqi oil exports represent about 8.8% of the total Chinese oil imports.

And China found in “loan diplomacy” the best way to expand its influence, adopting the “carrot and stick” method, whereby countries are tempted to engage in the distinguished project of Chinese foreign policy, which is known with the participation of 138 countries and 30 international organizations, with a colossal value of up to eight trillion dollars, before For the governments of these countries to sink into the debt quagmire, by granting them billions of dollars in loans on special terms, they are well aware that many countries will not be able to pay the debts nor their interests, only to find themselves a victim of a “debt trap.”

The term “debt trap diplomacy” is attributed to Brahma Chellani, the Indian thinker and academic, and he used it in his criticism of the Chinese government’s policy, which gives huge loans to countries, but in return seizes their strategic assets, as collateral for loans in the event of default, when speaking about the dragon strategy. The Chinese aim to exploit resources in the Third World, conquer local markets with low-quality Chinese goods, and even labor to compete for local jobs.

And the story of the “debt trap” was revealed in 2017, when a report spread confirming China’s clever takeover of the port of Hambantota city in Sri Lanka, after the state government was late in paying its debts, and Sri Lanka found itself paid, under the terms of the contract, about the privatization of 70 percent of the debt. China-funded port of a Chinese company.

And China intends to seize the projects that it has financed, which are ports, airports or strategic infrastructure, or at least take the right to use them for a long period, sometimes up to 99 years.

Chinese companies have been working in Iraq for years that may exceed a decade, and they focus a lot on projects related to oil and its derivatives or logistics services related to oil extraction operations in the regions of southern Iraq rich in natural resources.

But these companies, which have annual investments in the billions of dollars, are almost absent from oversight and from the eyes of the Iraqi, Arab and even international media, so they seem to be discreet companies that do not practice corruption.

According to informed sources, "Iraq lost millions of dollars due to the corruption of Chinese companies, which took advantage of the country's conditions and sought refuge with political parties that have great influence in Iraq and were able to evade taxes."

According to the sources, "these companies follow the mechanisms of dispatching officials and employees who have ties to their work to China and to Europe, in order to offer them temptations to cover up the corruption operations they carry out during their work in Iraq."

The deputy in the Iraqi parliament said during a television interview, "In Wasit Governorate, for example, we have 3 experiences with Chinese companies, which are among the worst applications on the ground, adding that the problem is corruption that hinders all steps of reconstruction."

In addition, the work of these companies is not limited to oil fields only. Earlier, they entered the file of armament contracts, but this file was also marred by corruption, according to the parliamentarian, who revealed in 2016 violations and suspicions of corruption in an armament deal with a Chinese company, and confirmed Other companies submitted bids with this company and were removed.   LINK

Expert: Iraq's Fear Of China's Domination Of Its Oil Industry Is Pushing It Towards The West

Shafaq News/ Oil expert Hamza Al-Jawahiri confirmed, on Monday, that the fear of Chinese domination of the Iraqi oil industry pushed him towards Western companies, indicating that Western oil companies are reluctant to contract on projects due to financial corruption.

Al-Jawahiri told Shafak News Agency, "Chinese technology is equivalent to what is available in Western companies, and these companies and laboratories in the West have transferred their factories to China, and so is the case with technology, and that China themselves developed the technology and there is no objection to Chinese technology."

He added, "The objection comes to the Chinese domination of the Iraqi oil industry, which is what Iraq fears. Therefore, it seeks to find Western and Eastern diversity in direct national production."

And Al-Jawahiri said, "Iraq refuses to have a hegemony of one party at the expense of another, and seeks to find a balance between the West and the East."

He stressed that "hegemony is rejected, as your decision will depend on the interest of this state, especially since we are talking about major development projects whose costs range from 6 to 12 billion dollars and more, and these decisions affect sovereignty and therefore countries avoid placing their eggs in one basket."

He pointed out that "contracting projects, whether investment or service, is open to all, and China is present in every competitive process."

Al-Jawahiri added, "Western companies are reticent about obtaining projects in Iraq because of financial corruption because they are held accountable in their countries if they are involved in paying bribes and are included in the blacklist, unlike Chinese or eastern companies in general with the exception of Japanese companies, and therefore they get great opportunities in Iraq."

Iraqi Oil Minister Ihsan Abdul-Jabbar, during his recent visit to France, called on French oil companies specialized in reconstruction to contribute to projects to increase production capacities, rehabilitate infrastructure, optimize gas and renewable energy investment, and improve oil working conditions and environment.

Abdul-Jabbar told Shafak News Agency; "Real investment that produces real value for the country, develops society and people, and raises the level of work ethics, is what Western companies do."

He added that "other companies are good at work, but they do not meet all these requirements," noting that "the ministry is trying to come up with the best companies capable of creating a social environment and good work and implement projects at the cheapest prices and the highest return."

A number of Western companies, including Oxon Mobil, had hinted at selling their stakes in the main oil fields in Iraq, and this step raised the fear of the Iraqi government and the Ministry of Oil in light of measures that may negatively affect Iraqi oil production, while the Minister of Oil demanded the necessity of contracting with one of the American companies in the event of an exit. Any American company from the Iraqi oil fields.

On July 4, when he was hosted by the House of Representatives, Oil Minister Ihsan Abdul-Jabbar described this step by companies that demanded to sell their shares, such as Lukoil and ExxonMobil, that the investment climate is not attractive in Iraq.   LINK

Chinese Companies Pay Bribes In Iraq.. The Mystery Of Insisting On Iraqi Oil In Exchange For The “Coolness” Of Western Companies

2022-05-30   Yes Iraq: Baghdad   Indicators confirm the Chinese insistence and rush to invest in the Iraqi oil fields, offset by the “coolness” of Western companies and attempts to withdraw, which requires explanations to understand what is happening, and while reports indicated that Chinese companies do not seek big profits in Iraq as much as they seek to ensure the flow of oil supplies to China, Another explanation is related to the ability of Chinese companies to “keep up with corruption and pay bribes,” in contrast to Western companies that may be subject to sanctions in their countries if they commit any of these violations in Iraq.

Oil expert Hamza Al-Jawahiri says that “Chinese technology is equivalent to what exists in Western companies, and these companies and laboratories in the West have transferred their factories to China, as well as the case with technology, just as China themselves have developed technology and there is no objection to Chinese technology.”

He added, "The objection comes to the Chinese domination of the Iraqi oil industry, which is what Iraq fears. Therefore, it seeks to find Western and Eastern diversity in direct national production."

Al-Jawahiri indicated that "Iraq refuses to have a hegemony of one party at the expense of another and seeks to find a balance between the West and the East."

He stressed that "hegemony is rejected, as your decision will depend on the interest of this state, especially since we are talking about major development projects whose costs range from 6 to 12 billion dollars and more, and these decisions affect sovereignty and therefore countries avoid placing their eggs in one basket."

He pointed out that "contracting projects, whether investment or service, is open to all, and China is present in every competitive process."

Al-Jawahiri added, "Western companies are reticent about obtaining projects in Iraq because of financial corruption because they are held accountable in their countries if they are involved in paying bribes and are included in the blacklist, unlike Chinese or eastern companies in general with the exception of Japanese companies, and therefore they get great opportunities in Iraq."   LINK

Parliamentary Finance: The Proposal For The Emergency Support Law Will Be Passed By A Two-Thirds Majority

Iraq   09:29 - 2022-05-30   Today, Monday, the Parliamentary Finance Committee announced that the emergency support law will be passed a week after the second reading, while noting that the Ministry of Health requested the allocation of 1.3 trillion dinars to its budget within the law.

A member of the committee, Sattar al-Atabi, said that "the committee hosted the stakeholders regarding the proposed emergency support law," noting that "the members of the committee are determined to discuss the provisions of the law until it is properly matured."

He added, "We are trying to pass the law within a ceiling of 25 trillion dinars," noting that "there are no obstacles or impediments regarding the law."

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

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

https://kirkuktv.net/AR/Details/6413

Iraqi News Monday Afternoon 5-30-22

Iraqi News Monday Afternoon 5-30-22

TLM724 Administrator BondLady’s Corner

Al-Kazemi’s Advisor Warns Of Austerity, Financial Distress And Inflation

Adviser to the Prime Minister, Mazhar Muhammad Salih, expected the passing of the emergency support bill for food security and development, while warning of the state of austerity in the event that the bill was not passed.

Saleh said in a statement to Al-Iraqiya News, "The proposal for the emergency support law for food security and development is very important in providing the ration card and strengthening the strategic storage, as well as the need to provide allocations to pay farmers' dues, in addition to providing the cost of imported oil derivatives," expecting "the passage of the proposed law."

Saleh warned of "the state of austerity, financial distress and inflation, which is a dangerous phenomenon, in the event that the proposed law is not passed," noting that "this law proposal is a rescue spending package to reduce any potential risks."

Saleh added that "the prices of fuel, gas, sugar and grains rose by 40% from last year," stressing the need to "provide the ration card items due to the high rate of poverty."

And regarding the white paper, Saleh said that "this paper is almost disabled in such a circumstance after the increase in financial support," explaining that "this paper is a long-term reform and can be modified because the Iraqi economy needs it."   https://www.radionawa.com/all-detail.aspx?jimare=29690

Integrity reveals the waste of (6) billion dinars of public money in Muthanna

Political | 05:00 - 30/05/2022   Baghdad - Mawazine News  The Federal Integrity Commission announced that it has seized public money, forgery and fake names in the Muthanna Health Department and the branch of the General Company for Agricultural Equipment in the province.

In its discussion of five seizures, which were carried out based on judicial notes, the commission’s investigations department reported that the Muthanna Investigation Office team, which moved to a number of Muthanna hospitals, managed through four separate operations to seize 60,000 (60,000) thousand CEPAP masks (face mask). Chinese origin is redundant in hospitals (Al-Hussein Educational, Al-Rumaitha General, Women's, Children and Al-Khader General) hospitals in the governorate.

The department added that the value of the seized devices amounted to (6,000,000,000) billion dinars, pointing out that they were not used and were left in the warehouses of the Health Department. Which led to a waste of public money, pointing out that in mid-February of this year, the authority announced the seizure of (99,935) masking devices worth (6,500,000,000) billion dinars in the Muthanna Health Department out of (175,000) thousand devices that exceed the actual need for them. It was supplied by the General Company for Marketing Drugs and Medical Supplies (Kimadia).

She explained that the team carried out a separate operation in the General Company for Agricultural Supplies - Muthanna Branch, during which two forged books allegedly issued by the Muthanna Agriculture Directorate and addressed to the company were revealed, noting that there were cases of manipulation and forgery in (116) transactions and more than 100 lists. fictitious name;

For the purpose of receiving fertilizer (urea and dab) in an amount exceeding (200) tons, indicating that the amount of the amounts that have been disbursed; To supply farmers with materials from the General Company for Agricultural Supplies, based on those transactions, amounted to (225,000,000) million dinars.

Minutes of seizure operations were organized and presented, along with the seized exhibits, to the judge of the Integrity Investigation Court in Muthanna. To take appropriate legal measures. Ended 29/h

https://www.mawazin.net/Details.aspx?jimare=194918

The Dollar Is Rising In The Iraqi Market

Economie| 10:38 - 30/05/2022   Baghdad - Mawazine News, the dollar exchange rates rose, today, Monday, on the Iraqi Stock Exchange.  Selling price: 148,450 dinars per 100 dollars, Buying price: 148,350 dinars per 100 dollars    https://www.mawazin.net/Details.aspx?jimare=194875

Oil Prices Exceed $120 Per Barrel

Economie| 08:29 - 30/05/2022   Follow-up - Mawazine News: Oil prices rose, on Monday, to their highest level in two months, bringing the price of Brent above $120, as traders waited to see if the European Union would reach an agreement on the Russian oil embargo before a meeting on a sixth package of sanctions against Moscow.

Brent crude futures rose 61 cents, or 0.51%, to $120.04 a barrel at 04:39 GMT, while US West Texas Intermediate crude futures jumped 98 cents, or 0.85%, to $116.06 a barrel, extending strong gains for the week. Past.

The European Union is due to meet on Monday and Tuesday to discuss the sixth package of sanctions against Russia for its invasion of Ukraine, which Moscow calls a "special operation" to disarm its neighbor.

Any additional ban on Russian oil would tighten the crude market, which is already under pressure on supplies amid rising demand for gasoline, diesel and jet fuel ahead of the peak summer demand season in the United States and Europe. Ended 29/N33   https://www.mawazin.net/Details.aspx?jimare=194860

Parliamentary Integrity: We Are Studying The File Of The Sumo Oil Company In Detail

Iraq   Monday, 30 May 2022 5:49 PM  National News Center / Special  Today, Monday, the Parliamentary Integrity Committee commented on Iraq's loss of large sums of money as a result of corruption within oil companies, specifically SOMO.

Committee member Ahmed Al-Rubaie said in a statement to the "National News Center", "Oil companies have many aspects of corruption, and the most prominent of these aspects is the payment of delayed fines, which amount to half a billion dollars," stressing that "integrity is studying the SOMO file in detail."

He added that "the file of the oil companies is open extensively with the Parliamentary Integrity Committee, so we hope that the Ministry of Oil and the management of SOMO will cooperate with integrity in order to diagnose the negligent and hand him over to the judiciary."

He pointed out that "all the file of oil companies in all their forms is open to the Integrity Commission in order to study it extensively and diagnose the negatives."

It is noteworthy that Iraq loses large delay fines as a result of the mismanagement of the (SOMO) company in the export of oil, while Representative Uday Awad confirmed, earlier, the opening of a criminal case with the Integrity Commission to hold accountable the negligent in wasting public money.

https://nnciraq.com/131684/

An Iraqi Move To Form An International Bloc Regarding The Recovery Of Funds And The Extradition Of Convicts

Political Today, 13:49  Baghdad - I know Today, Monday, the Integrity Commission announced that it has submitted a proposal to hold an international conference in the capital, Baghdad, aimed at forming an international bloc to pressure countries that refrain from cooperating in the field of money recovery and those convicted of corruption cases, while revealing the approximate number of the money sentenced to be recovered.

The head of the commission, Judge Alaa Jawad Al-Saadi, said, in an exclusive interview with Kahramana magazine, which is affiliated with the Integrity Commission, and followed by the Iraqi News Agency (INA), that "there are many obstacles that hinder the recovery of funds and those convicted of corruption cases from outside Iraq, despite the exceptional work provided by the concerned authorities in Iraq." Chief among them is the Integrity Commission.

Al-Saadi added, "There are objections by the state in which the wanted persons are present in their various characteristics, whether they are (ministers, governors, general managers) and others, despite the issuance of judicial rulings against them by the Iraqi judiciary," noting that "the content of those objections marketed by the incubating countries The wanted persons have for several reasons, including protecting the wanted person by granting him her nationality or pushing her with political motives to retrieve him.

He pointed out that "there are sometimes objections to technical reasons, such as the lack of laws in that country that allow the extradition of those on its territory to other countries, or the incompleteness of the extradition file according to its point of view, despite the fact that the procedures for the files have been completed by the requesting party."

He noted that "the Commission has worked to find unconventional means in order to succeed in its national efforts to recover money and those convicted in corruption cases, and among those ways is the implementation of the recommendations of the Baghdad International Conference, where it began to develop a plan to implement the outcomes of the conference held in Baghdad (15-16 September 2021), which was Chief among them is finding unconventional means to recover funds in cooperation with the Ministry of Foreign Affairs and a number of the authority's departments.

He pointed out that "the commission has begun to work on activating government support on the political and diplomatic sides to follow up on the files of recovering corruption funds smuggled outside Iraq, while the laws of some countries will be discussed and studied in depth in order to seize corruption funds abroad and communicate with the relevant international authorities in order to recover them.".

Al-Saadi stressed, "There is an active movement at all levels, whether regional or international, in order to form an international bloc that pressures countries that refrain from cooperating in the field of money recovery and those convicted of corruption cases," noting that "the authority submitted a proposal to organize an international conference for bodies and institutions specialized in combating corruption."

The financial and administrative center in the capital, Baghdad, in order for the participants in the conference to adopt the Iraq project, which calls for the formation of that international pressure bloc, activating the work in it and implementing it on the ground.

And he added, "We are determined to hold that conference in the capital, Baghdad," noting that

"the task of preparing and coordinating the organization of the conference was referred to a committee composed of a number of competent departments, in coordination with a number of international organizations that sponsor and contribute to it."

And the head of the commission added, "The response to requests for legal assistance related to the inventory of smuggled corruption funds and their recovery to Iraq and the prosecution of those wanted internationally varies from one country to another," noting that

"the level of countries' response to these demands is related to several things, including the extent to which the laws of the country are required to provide assistance or The delivery of international and regional terms and agreements, as well as the level of relations and exchange of interests between them and Iraq, in addition to the level of diplomatic effort expended.

Judge Al-Saadi indicated that "the effective Law No. 30 of 2011, amended, entrusted the recovery department with the task of following up and recovering money and proceeds of corruption smuggled out of Iraq after 2003.

As for the looted funds that belong to the era of the previous regime, it is within the competence of the Fund for the Recovery of Iraq's Funds from Abroad. This is based on Law No. 9 of 2012 as amended.

He pointed out that "the approximate number of smuggled funds and proceeds of corruption, which were determined according to judicial decisions issued by the subject courts (penal courts, courts of first instance), which obligate the fugitive convict to pay the amounts of damage he inflicted on public money or that he unlawfully seized, to the party affected by his act.

The criminal proceeds are called (the money sentenced to be recovered), with an approximate total value of more than one billion and 416 million dollars.

He referred to the "recent success that was achieved in recovering more than $9 million in the case of the convicted (Zina Saud), a former employee of the Baghdad Municipality," praising "the tireless efforts that led, through continuous follow-up, to the recovery of those funds."

Al-Saadi reviewed, "the details of the case, which began in 2009 after the commission revealed that the convict had smuggled money out of Iraq, specifically to the Kingdom of Jordan and the Republic of Lebanon," adding:

"For that, an arrest warrant was issued against her, as the commission succeeded in recovering her so that the Iraqi judiciary issued its decision No. 3626 / c 3 \ 2012 against her on 5 \ 12 \ 2012, which includes the sentence of life imprisonment against her and the confiscation of her movable and immovable funds, amounting to 9 million, 384 thousand and 499 dollars.

He continued, "In the same case, the commission obtained guarantees from the Jordanian side to return the sum of 5 million and 700 thousand dollars, which was smuggled by the convict to the Kingdom," denying "the existence of any legal impediment preventing the organization of an international file to recover corruption funds smuggled abroad, even if the accused is Or the person convicted of smuggling it is inside Iraqi territory.”

He explained, "The Recovery Department, according to its competence specified in Article (10/Seventh) of the Amended Integrity and Illicit Gain Law No. 30 of 2011, is organizing two files, one of which is related to the pursuit of the internationally sought in order to recover it, and the other to pursue corruption funds smuggled abroad."

He stressed, "The formation of international investigative courts is very difficult at the present time," attributing this to several reasons, foremost of which is "the difficulty of reaching the international consensus required for the establishment of these courts, as it is difficult to reach such a consensus at the present time because resorting to international justice in These issues are still not raised, especially since there are many international means for disputes in such cases."   https://www.ina.iq/157236--.html

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

https://www.bondladyscorner.com/

Seven Financial Influencers On Saving, Inflation, And Starting Your Own Business

Seven Financial Influencers On Saving, Inflation, And Starting Your Own Business

Benjamin Din + Meghan Coyle + Rosalie Murphy  May 18, 2022

Amid stagnating wages and rising prices, the financial pros will tell you the same thing: You can’t keep saving and spending the same way you always have if you want to keep up. There are plenty of things you can do to combat some of the biggest issues facing consumers today.

Here’s what some Asian and Pacific Islander financial pros suggest for how to beat inflation, save at the pump and maybe even take the plunge if you’re considering starting your own business.

1. Hui-chin Chen

Inflation has risen 8.5% over the last 12 months, according to the U.S. Department of Labor and Statistics. To combat inflation, Hui-chin Chen, a certified financial planner who runs the Money Matters for Globetrotters blog, recommends focusing on the income and expenses you can control.

“Inflation manifests in our lives through having to spend more to maintain the same lifestyle. That means there are only two things anyone can do to cope — make more or change lifestyle.

“During the time of Great Resignation, the workers who have the drive and ability to earn that higher return of capital will be better poised to face longer-term inflation.

“Changing lifestyle doesn’t mean we need to give up what is important to us or even live a lower quality of life. It requires first taking stock on what part of your spending is inflated outside of your control, and taking control on the part you can.

“For example, those with fixed-rate mortgages will not see a huge jump on housing cost, but those renting might. On the other hand, those who are location independent can seek greener pastures more easily for lower cost of living than those tied down by a job or house.”

More about Hui-chin Chen: Chen is a CFP and the principal of Pavlov Financial Planning. She is an immigrant and expat, and is passionate about making cross-border financial planning accessible and does so through her founding of the CIGA Network and her blog, Money Matters for Globetrotters. Twitter: @huichinfp

"So much more thorough and easier to manipulate than the 'plan' created for me by my advisor. When something changes in my life or my thinking, bingo! I just change assumptions and make sure I still live longer than my money!" – Eric, 56

2. Vivian Tu

Vivian Tu, better known as “Your Rich BFF” on TikTok, said everything we’re used to buying is going up — milk, cars, travel. Think about that when annual raises come up at work.

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

https://www.marketwatch.com/story/seven-financial-influencers-on-saving-inflation-and-starting-your-own-business-11652468693?siteid=yhoof2

MilitiaMan and KTFA Members "News and Veiws" Monday Eveining 5-30-2022

KTFA:

Clare: : The Iraqi parliament includes the emergency support law on the agenda of the Tuesday session

2022-05-30

The Iraqi parliament has included the discussion of the emergency food security support law on the agenda for tomorrow's session.

According to the one-paragraph agenda; That the Finance Committee will report and members of Parliament discuss the emergency support law.

On May 28, the leader of the Sadrist movement, Muqtada al-Sadr, called on the Iraqi parliament to expedite the vote on the emergency food security support law, stressing that the vote should be kept away from "partisan, sectarian and nationalist bids." LINK  

MilitiaMan:  Sadr up to the plate to make sure there is expediency.. Fresh in their faces tonight.. I like it.. The vote is in the table and he wants it done..~ MM

MilitiaMan:  The Industrial Bank needs a new financial allocation within the budget to open new branches.. If / when it is approved..? (See article below)  What is that financial allocation they speak of?

 I suppose at this juncture since they speak of the budget and I'll suppose they are talking about the 2022 Budget Law, we can presume that it is about a new exchange rate within that budget.

Since the emergency food law is slated along with the 2022 Budget in the short term and them being synonymous to each other, they to, are awaiting to be exposed. Fascinating how this is coming together now.. imo ~ MM 

Samson:  A government bank announces an increase in the industrial growth rate due to the rise in the price of the dollar

29th May, 2022

The Industrial Bank revealed, today, Sunday, an increase in the rate of industrial growth in the country due to the high exchange rates of the dollar, while stressing that the opening of new branches in the provinces needs a financial allocation within the budget.

The Director of the Bank, Bilal Sabah Al-Hamdani, said, “The Central Bank’s initiative is excellent for medium and large projects, and its duration is 15 years, and the average interest is 2%, and for large projects 3,” noting that “we have started working on the initiative, but Iraq needs thousands of factories and we are trying to provide loans.” hundreds of factories.

He pointed out that "the Industrial Bank is self-financing and has capital to lend to customers, but there is an increase in the size of the national industry and the demand significantly," noting that "the previous years, the request for loans came for projects under establishment and new, with limits of 100-150, and currently the demand reaches thousands, and this because of the exchange rate change, which led to the importer being expensive and the local product being cheaper than the importer, which made businessmen, traders and importers think about setting up factories inside Iraq.

He added, "The bank has detection committees before and after granting the loan and we give documentary credits that we import to the production line or if they are raw materials and in construction loans, it is done according to the stages of construction and completion," noting that "the delay in payment is usually from the owner of the plant and some of them are due to regional issues."

Like the edible oil factory that used to import the raw material from Ukraine, and today the import has been stopped, and the factory is resorting to other countries where the raw materials are more expensive, and this is beyond our control, and there is also mismanagement, but we in the bank are in control of the issue.”

He added, "Most of the factories began to rise at the rate of growth for industry, but the average number of factories is few and we need thousands of factories. We are now in the process of establishing hundreds only. With time, and if the budget is approved and an amount is allocated to the bank, some branches can be opened in some provinces because it does not have branches in all provinces." And this is one of the suffering,” explaining that “the Industrial Bank owns branches in Baghdad, Karbala, Babylon and Basra only, and the opening of new branches that need allocations and sums of money within the budget.”   LINK

 ~~~~~~~~~~~~~

Jerry1971:  THANKS MM FOR YOUR CONTINUING GREAT ANALYSIS ON THE STUDY OF THE IQD

THE FSL AND NOW EVEN THE BUDGET OF 2022 ARE HOT TOPICS ON THE AGENDA IN THE IRAQI PARLIAMENT …IT CAN POSSIBLY GO BOTH WAYS THE FSL AND BUDGET OR ONE WAY MEANS THE FSL GETS VOTED UPON AFTER THE 2ND AND 3RD READING

THAT WILL HOPEFULLY TRIGGER OFF THE NEW EXCHANGE RATE FOR THE IRAQI DINAR FOR THE CITIZENS AND WE DINIARIANS THIS WHOLE SENARIO IS LOOKING FANTASTIC. 

TIME IS RUNNING OUT FOR THESE IRAQI POLITICIANS TO DO SOME THING SOONER THAN LATER FOR THEIR CITIZENS

MilitiaMan:  There is definitely a push to get the reforms done.. The articles all show it to be the case and the world having been involved through the World Bank, IMF, AMF, UST, etc., is and or was the catalyst to push the politic side into high gear or the consequences may have been very dire.

The CBI has not come this far, nor has the infrastructure with the e-government, e-payment and settle systems, automation of the ports and borders for taxation, digital transformation for interconnectivity not only regionally but internationally... Lets see what the days bring us,

 I know today there are many articles that have data that is integral to our study.. imo ~ MM

~~~~~~~~~~~

Samson:  Economist: Iraq Is Able To Revive Its Economy Through A New Road Map

30th May, 2022

The economic expert Wissam Al-Tamimi confirmed that Iraq possesses large areas that can be exploited and prepare a new road map to make it a corridor for goods coming from other countries towards the rest of the world, whether in Asia or Europe, to achieve a great economic return for each shipment entering Iraq.

Al-Tamimi told Al-Maalouma, "Iraq has a good road network, but it is no longer adequate, as Baghdad needs the fourth ring road to create more than 5 new residential areas, as its revival will eliminate a large percentage of the housing crisis, in addition to the fact that the road It can be exploited to rid Baghdad of the traffic congestion of large load wheels, in addition to the possibility of establishing factories, rest stations and commercial buildings on the side to achieve a good economic return for the state and the citizen.

He added that "Iraq urgently needs a new international road linking the north with the south, center and west to make it a corridor for goods coming across the sea towards Turkey, Syria, Jordan and the rest of the European countries, and it is possible to put up such projects for investment or it can be paid through oil."

Al-Tamimi explained, "There are a lot of ingredients and qualifications to make Iraq an economic gateway linking Asia with countries to Europe and the rest of the countries, where it is possible to invest the financial abundance to come with giant companies that establish a new road network that will enter the state with great resources and be an opportunity to eliminate unemployment and the housing crisis, and make the country one of the most important countries Industrial Arabic.   

MilitiaMan:  They are clearly telling us they are opening up to the international world. The infrastructure build out will require it and they know. Once the new exchange rate or financial allocation is put in to motion, the floor gates of growth will ensue..

The borders are automated and ready imo, the CBI has had a good report from the IMF and World Bank. Their Credit Rating is about imo to increase again. All tell tale signs of what is to come.. imo.. ~ MM

They are obviously show casing their new wings to fly into the international business realm... They know they have the massive resources to link the globe with the road map in place.  Financial Abundance is going to change the playing field.. We all can appreciate that. Just as giant companies will. imo ~ MM

Samson:  Al-Jabri informs the religious references in Najaf about the file of food security and high prices globally and locally

05/30/2022 11:53:33

The Undersecretary of the Ministry of Commerce, Sattar Al-Jabri, visited Najaf Governorate and met with religious references, Grand Ayatollah Sheikh Muhammad Ishaq Al-Fayyad and Grand Ayatollah Sheikh Bashir Al-Najafi at their residence.

Al-Jabri said in a statement that Al-Furat News Agency received a copy of, that "the visit comes to emphasize the main role of the religious authority in society and the need to inform it of the important files that pertain to the people, including the file of food security and the ration quota for the purpose of evaluating default and working with transparency, as well as discussing the repercussions of the war." The Russian-Ukrainian and its cause of high prices globally, including prices in Iraq." 

The Undersecretary of the Ministry of Commerce indicated that he "discussed with religious references the most important challenges facing the country in the current period and the need to close ranks and end the political problems that stand in the way of providing the ministries' needs and obstructing work and providing services to citizens."

Al-Jabri indicated that "the meeting also witnessed an explanation of the ministry's work and a discussion of the general situation in the country and issues related to the commercial sector, stressing the importance of expediting the approval of the budget to meet the needs of citizens and provide strategic food stocks."   LINK

 MilitiaMan:  Again there is a focus on the importance of the 2022 Budget to meet the needs of the Citizens. We know by the CBI financial records they have already printed currency to work with the new exchange rate. imo. ~ MM

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

Samson:  A government bank announces an increase in the industrial growth rate due to the rise in the price of the dollar

29th May, 2022

The Industrial Bank revealed, today, Sunday, an increase in the rate of industrial growth in the country due to the high exchange rates of the dollar, while stressing that the opening of new branches in the provinces needs a financial allocation within the budget.

The Director of the Bank, Bilal Sabah Al-Hamdani, said, “The Central Bank’s initiative is excellent for medium and large projects, and its duration is 15 years, and the average interest is 2%, and for large projects 3,” noting that “we have started working on the initiative, but Iraq needs thousands of factories and we are trying to provide loans.” hundreds of factories.

He pointed out that "the Industrial Bank is self-financing and has capital to lend to customers, but there is an increase in the size of the national industry and the demand significantly," noting that "the previous years, the request for loans came for projects under establishment and new, with limits of 100-150, and currently the demand reaches thousands, and this because of the exchange rate change, which led to the importer being expensive and the local product being cheaper than the importer, which made businessmen, traders and importers think about setting up factories inside Iraq.

He added, "The bank has detection committees before and after granting the loan and we give documentary credits that we import to the production line or if they are raw materials and in construction loans, it is done according to the stages of construction and completion," noting that "the delay in payment is usually from the owner of the plant and some of them are due to regional issues."

Like the edible oil factory that used to import the raw material from Ukraine, and today the import has been stopped, and the factory is resorting to other countries where the raw materials are more expensive, and this is beyond our control, and there is also mismanagement, but we in the bank are in control of the issue.”

He added, "Most of the factories began to rise at the rate of growth for industry, but the average number of factories is few and we need thousands of factories. We are now in the process of establishing hundreds only.

 With time, and if the budget is approved and an amount is allocated to the bank, some branches can be opened in some provinces because it does not have branches in all provinces." And this is one of the suffering,” explaining that “the Industrial Bank owns branches in Baghdad, Karbala, Babylon and Basra only, and the opening of new branches that need allocations and sums of money within the budget.”  LINK 

MilitiaMan:  The Industrial Bank needs a new financial allocation within the budget to open new branches.. If / when it is approved..? What is that financial allocation they speak of? I suppose at this juncture since they speak of the budget and I'll suppose they are talking about the 2022 Budget Law, we can presume that it is about a new exchange rate within that budget. Since the emergency food law is slated along with the 2022 Budget in the short term and them being synonymous to each other, they to, are awaiting to be exposed. Fascinating how this is coming together now.. imo ~ MM 

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

Samson:  Parliamentary legal intends to enact the most important law regulating the relationship between the center and the region..there are no problems after it

29th May, 2022

The Parliamentary Legal Committee announced today, Sunday, its intention to legislate a number of important laws that are intended to strengthen the work of the next government, noting that among them the oil and gas law.

Committee member Aref Al-Hamami said in an interview with (Baghdad Today), that "there are bills that have been on the shelves of Parliament for years, and therefore it has become necessary to pass them and reformulate them."

He added that "the Federal Oil and Gas Law is the most important draft of laws that we intend to pass to regulate the oil relationship between the center and the region."   LINK

MilitiaMan:  The timing of this is by no coincidence. It has been needed for this at the end game. It is the most important draft law that has been on the shelves for many years already, therefore, when they have the seated government or the work around in place it too will be needing the new exchange rate applied, imo.. We can see now that the push for Iraq to take care of their citizens not only by passing the emergency security food law and the 2022 budget law, they will legislate the FOGL... A game changer for the future security of their food. They'll have income in perpetuity to make sure of it.. imo.. Likely this is slated to be timed accordingly. imo This looks great.. ~ MM.

Al-Rasheed Bank of Iraq outside international sanctions after 30 years  LINK

MilitiaMan:  The bank will enjoy the confidence of the global system and international financial markets, specifically  by collection credit lines for foreign trade. They are not going to be doing that with a program rate. The lifting sanctions on the bank is to allow interconnectivity to important countries that are centers of international banking and related financial transactions. Then add in the likes of VISA dealing with the CBI. We are watching the convergence of a country in renaissance.. IT is going to be an amazing event to be apart of, even if from the outside looking in.. ~ MM

~~~~~~~~~~

Samson:  Al-Sahlani: The Coming Days Will Witness A Breakthrough In The Political Crisis

30th May, 2022
The former representative of the Al-Fateh Alliance, Walid Al-Sahlani, confirmed that the coming days will witness a breakthrough to the current political crisis, pointing out that the framework initiatives, international pressures, resolving the situation from some parties of the Triple Alliance, and the Kurdish dialogues all lead to détente.

Al-Sahlani told Al-Maalouma, "The coordination framework launched many initiatives in order to solve the political blockage, especially since the political process cannot be saved in this way and therefore does not serve the interest of the people and affects the country in general." He added that "the caretaker government is tied and cannot achieve any economic renaissance for the country, and therefore it has become imperative to end the current crisis, which prompted the coordination framework to present initiatives to resolve the political blockage."

And he indicated that "the current real problem lies in naming the largest bloc between the coordination framework and the Sadrist movement, or by the tripartite alliance that the Sadrist movement calls for," noting that "there is international pressure to resolve the current situation, and this began with the Kurdish dialogue to end the crisis." He pointed out that "there is a solution to the crisis on the part of the tripartite alliance, and it is likely that the next few days will witness a breakthrough in the political crisis."   

MilitiaMan:  Just like we talked about lately. We knew there were meetings on this weeks ago. The international pressures have been applied and it looks as the effects are starting to show. I have not seen Sadr move the line in the sand of Maliki having anything to do with the government. I would not be surprised that the PM in Iran had words on the matter. There comes a time were things need to be done for the larger picture. Maliki's portion of the canvas may have been framed out.. We shall see. Imo ~ MM

MilitiaMan and Tivon "This is a Big Deal" Monday PM 5-30-2022

KTFA:

Samson:  Al-Jabri informs the religious references in Najaf about the file of food security and high prices globally and locally

05/30/2022 11:53:33

The Undersecretary of the Ministry of Commerce, Sattar Al-Jabri, visited Najaf Governorate and met with religious references, Grand Ayatollah Sheikh Muhammad Ishaq Al-Fayyad and Grand Ayatollah Sheikh Bashir Al-Najafi at their residence.

Al-Jabri said in a statement that Al-Furat News Agency received a copy of, that "the visit comes to emphasize the main role of the religious authority in society and the need to inform it of the important files that pertain to the people, including the file of food security and the ration quota for the purpose of evaluating default and working with transparency, as well as discussing the repercussions of the war." The Russian-Ukrainian and its cause of high prices globally, including prices in Iraq." 

The Undersecretary of the Ministry of Commerce indicated that he "discussed with religious references the most important challenges facing the country in the current period and the need to close ranks and end the political problems that stand in the way of providing the ministries' needs and obstructing work and providing services to citizens."

Al-Jabri indicated that "the meeting also witnessed an explanation of the ministry's work and a discussion of the general situation in the country and issues related to the commercial sector, stressing the importance of expediting the approval of the budget to meet the needs of citizens and provide strategic food stocks."

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

MilitiaMan:  Again there is a focus on the importance of the 2022 Budget to meet the needs of the Citizens. We know by the CBI financial records they have already printed currency to work with the new exchange rate. imo. ~ MM

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

TIVON:  This article is a banger for several reasons. One major one coming from an advisor from Al-Kazemi when he mentioned that the two legislative laws that have a right to use the savings/reserves was the Food Security Law & 2022 Budget Law.

 On top of that he also stated that the rise in Iraq's hard currency reserves will increase confidence in the Iraqi dinar and will increase its stability," stressing that "the Iraqi dinar is approaching "Full Coverage" 😀 of hard currency reserves in light of the current exchange rate." Do you know how heavy this statement is? I wonder why no one has commented on this revelation.

Listen, especially to this one particular gentleman Al-Zamili working on behalf of the citizens and not partisan self serving oligarchs when he officially stated that work in the legislative body continues without any disruption regardless of what is going on with the political impasse.

They are still voting/passing laws. So keep in mind that the Food Security Law has legal privileges to exploit reserves just as the budget Law does. And if the two are synonymous and we know the budget needs a rate to be operational to allocate funds to departments, projects, and agriculture. Wouldn't that mean the same for the FSL? Food, Poor Classes, and Investments were/are the three major areas where the surplus from oil was going to be spent on.

Mazhar also mentioned  that "the reserves also have a function in the process of financing foreign trade, which is related to development through the import of production means and supplies that will revive economic development." These reserves maintain the "Purchasing Power" of individuals, as it preserves the real income of the individual from fluctuations in the event of the deterioration of the dinar.

Come on people it doesn't get any better than this. All of these statements are only a couple or few days old.  IMO

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

MilitiaMan:  Absolutely is a big deal. They have the reserves and in my view it is well over 90 billion they have suggested which is far more than needed to expose the new exchange rate.

The Food Security Law and 2022 Budget Law are synonymous and yes they both need the rate just as the Oil and Gas Law.. They are all interlinked and will be used in conjunction with the renaissance that is about to explode.

All of the above are inclusive to the rate not only based of oil. The taxes, tariffs, fees, customs, tourism, Liquid Natural Gas, mining, etc, all will be apart of the Non - Oil GDP to support the exchange rate and private sector build out. imo  ~MM

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

Zeeman:  i am confused can you explain. you just said you thought the food law and budget was in the bag. but there is an atricle 91 that says the state of law will not pass this and secondly how can the budget be approved with the care taker gov with no end in sight between malaki/iran and sadr? thanks in advance  

TIVON:  When you look into the fine print of the article you will notice that they don't even make an attempt to clarify their point about the Food Security Law that was rejected by the courts that was a Draft Law that has since then been amended and passed a 1st Reading on that law in which the 2nd/3rd Reading is supposed to happen this Tuesday.

 Pay attention to things that disregard one thing because of another political opponents influence on that said thing which would be who & what?

Al-Sadr and his support for the Food Security Law that his enemies or obstructing parties do not want passed because of outside forces that continue to undermine the sovereignty of Iraq because they do not want citizens having purchasing power that will come from the Oil & Gas Law through the Federal Court which also have opponents in it that do not want to see a prosperous Iraq.

The Federal Court has not challenged the alternative Food Security Law. Big difference that this article does not mention for obvious reasons. Every article posted here is not in the intrest of Iraq. But it's good that they are because we get to see who's for and against the people. These people would be the Zionist/Khazarian/Cabal.  IMO

Quote: The statement added, "The oil and gas law in the region seems to have become a source of threat to the economic and political interests of some neighboring countries, which do not want the best for it and for Iraq, which prompted them to stand against this law through influential parties in the federal authorities that follow the policies of these countries."  End quote

TIVON:  Remember we have artist of confusion in Iraq who are hell bent on muddying the waters. They purposely left out information to make it appear that the current Food Security Law on the table tomorrow for Parliament was the one revoked by the Supreme Federal Court. Which is a total lie. Take those names down so you know who to look for to cause issues. They knew better and still proceeded to publish that article when we are well passed that event that happened 3+ weeks ago.

~~~~~~~~~~~

Tivon:  Things are wrapping up in terms of meetings and laws being passed that help uproot the corrupt bodies who stand in the way.

Some of them work for the Federal Government. Some work for Parliament. Some work in the Banking sector. Which is why you can not take every article at face value until you compiled enough to form a cohesive opion that underwrite the succession of actions formed that brought about events that has are will bring us closer to what we want.

And this week is powerful in regards to that. Especially the next session coming up hours from now. So expect even more news of prominence to come out. Especially when you see names like Al- Zamili, Mazhar, Al-Kazemi, Al-Sadr, and a few others including the governor of the CBI.   IMO

Monday Iraq Economy News Highlights 5-30-22

Monday Iraq Economy News Highlights 5-30-22

Iraq Has The Worst Budget With The Highest Budget .. “Earth News” Monitors The Budgets Of 4 Countries Within 10 Years (Statistic And Infographic)

29/05/2022  Earth News / Sam Mahmoud  In its first statistical report, Earth News reviews the total budgets of Iraq during the past ten years, compared to three regional countries chosen as models, namely Egypt, Jordan and the UAE, highlighting the differences in budgets and the total, compared to what was achieved in Iraq and those countries in the same period.

According to a census, which started with the 2012 budget in the four countries, it took into account the absence of two budgets in Iraq (2014 and 2020), as well as the approval of the UAE only for the budget for the current year 2022 among all the countries selected in the census, and it was excluded to maintain the ten-year calculation Entirely.

The total figures for the total budgets in these countries were as follows: Iraq $767 billion for 8 budgets, the UAE $140 billion for 10 budgets, Egypt $917.5 billion for 10 budgets and Jordan $119.6 billion for 10 budgets.

Starting with Iraq, it has spent $767 billion since 2012 until now, without the country witnessing any progress in the field of infrastructure, education, energy, roads and bridges, in addition to the absence of important investments related to the life of the citizen.

Iraq’s budgets were as follows: $100 billion/2012, $118 billion/2013, no budget/2014, $103 billion/2015, $91 billion/2016, $66 billion/2017, $88 billion/2018, $112 billion/ 2019, no budget / 2020, $89 billion / 2021.

The UAE budgets were as follows: $11.4 billion in 2012, $12.1 billion in 2013, $12.5 billion in 2014, $13.4 billion in 2015, $13.2 billion in 2016, $13.3 billion in 2017, $15.4 billion in 2018, and 16.3 billion. $19, $16.6 billion/2020, $15.8 billion/2021.

Turning to Egypt, its budgets were as follows: $84.5 billion/2012, $117 billion/2013, $76 billion/2014, $80 billion/2015, $104 billion/2016, $63 billion/2017, $80 billion / 2018, $95 billion / 2019, $136 billion / 2020, $82 billion / 2021.

Jordan's budgets were as follows: $9.6 billion in 2012, $10.5 billion in 2013, $11.2 billion in 2014, $11.1 billion in 2015, $11.8 billion in 2016, $12.6 billion in 2017, $11.9 billion in 2018, and 13.1 billion. $19, $13.8 billion/2020, $14 billion/2021.

The level of Iraqi economic growth fluctuated, due to its connection with international oil prices, where the budget was built on its basis, and oil revenues constituted more than 90 percent of the budgets, which exposed it to major economic shocks, which prompted successive governments to austerity.

A member of the former Parliamentary Economy and Investment Committee, Nada Shaker Jawdat, told "Earth News", "Very large funds are allocated in Iraq's budget with each year that goes between corruption and waste due to poor planning and management, and this is the reason for the loss of budget funds over the past years without any projects." Concretely large on the ground by the citizen.”

She added that "the countries of the region and the world, specifically the Arab countries, depended largely and mainly on investment in the development of infrastructure and reconstruction, and this matter is being lost by Iraq frankly, for several reasons, including security instability, which pushes major companies not to take investment projects in Iraq, in addition to The complex procedures in referring projects to investment and the accompanying corruption and extortion operations.”

And she stressed "the need to build Iraq's budgets, according to strategic plans, not according to traditional plans, which are always a budget of expenditures and not a budget of projects and services, although there are large financial allocations for the establishment of giant projects in various fields."

https://i0.wp.com/earthiq.news/wp-content/uploads/2022/05/IMG_20220529_214940_498.jpg

Turning to the UAE, the oil country and member of OPEC, the UAE economy has achieved growth rates that are considered among the highest in the world, during the past decade, as the country’s gross domestic product has doubled by more than 5 times in ten years, according to official statistics issued by the Ministry of Economy and the UAE Central Bank. In addition to the UAE achieving qualitative leaps in the sectors of education, health, investment, roads and technology, and its international classification is very advanced in most sectors.

In Egypt, which is also an oil and gas exporter, the annual growth rate of the economy increased and reached its peak during 2018, compared to the last ten years, and investment and net exports were the most important main sources of growth, at a rate of 74 percent, according to the Egyptian Ministry of Planning, and this is up to As well as achieving breakthroughs in the level of infrastructure, construction and tourism.

Turning to Jordan, the non-oil country, the total output rose to about 42 billion dollars, after it was less than 30 billion dollars during the past ten years, in addition to the increase in exports, reaching about 140 countries, and this is in return for Jordan maintaining the exchange rate of the Jordanian dinar against the dollar. Stable and provision of infrastructure, the most important of which is electricity permanently.

In addition, an expert in economic affairs, Salam Sumaisem, told "Earth News", that "the reason for not developing infrastructure and establishing strategic projects in Iraq during the past years, despite explosive financial budgets, is unlike some poor countries, which witnessed remarkable development in the same period due to several The most important reasons are corruption and failure.”

Sumaisem stressed that “corruption is the main reason why the money of these explosive budgets goes to the balances of the corrupt and is not properly spent on developing infrastructure and establishing strategic projects in various sectors, especially since the majority of projects were referred to fake companies and are not experienced, and for this there are hundreds of projects that have been suspended for years. , without holding the negligent parties to account, whether governmental or private.

And she added, "There is a defect in the issue of preparing Iraq's budgets, especially since these budgets depend in financial revenues on more than 90 percent of oil revenues, with the presence of many important doors that can provide money in supporting budgets, especially related to the aspect of tourism, communications, agriculture and many others neglected." due to poor management and planning by the relevant authorities.”

She pointed out that "Iraq's budgets over the past years do not differ from each other only some of the exchange sections, as they are always devoid of plans and projects of a strategic dimension, unlike other countries that always work on a major change between the budgets of the years, and the budget of Iraq is always only Expenditures and expenses related to salaries and other financial issues to run state institutions without important and realistic projects implemented on the ground.”

https://earthiq.news/archives/90592

Dollar Exchange Rates In Local Markets

Economie  2022-05-30   Source:  Alsumaria news   2,091 views  The exchange rates of the dollar rose, today, Monday, in the local markets.

The selling prices of the dollar were 148,450 dinars per 100 dollars, while the purchase prices of the dollar were 148,350 dinars per 100 dollars.

Earlier, he decided Central Bank of Iraq Adjusting the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, while the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen was 1470 dinars per dollar.  LINK

Oil Prices Record A New Jump

Economie  2022-05-30 |   Source:  Alsumaria news  3,278 views  Oil prices rose to a two-month high on Monday, as traders waited to see if the European Union could reach an agreement on a Russian oil embargo ahead of a meeting related to the sixth package of sanctions against Moscow over its invasion of Ukraine.

Brent crude futures for July rose more than a dollar to $120.50 a barrel, while US West Texas Intermediate crude futures jumped a dollar to $116.10 a barrel, continuing strong gains made last week.

European Union leaders are scheduled to meet on Monday and Tuesday to discuss the sixth package of sanctions against Russia to conquer it Ukraine.

Any additional ban on Russian oil will lead to a supply shortage in the crude oil market, which is already under pressure on supplies amid increased demand for gasoline, diesel and jet fuel ahead of the peak summer demand season in the United States and Europe.

Officials said European Union governments failed to agree on a Russian oil embargo on Sunday but would continue talks on a deal to ban offshore shipments of Russian oil while allowing pipeline deliveries.TADAWUL:2360) before Monday afternoon's summit.

If this is agreed upon, Hungary and Slovakia And the Czech Republic to continue receiving Russian oil through the Druzhba pipeline for some time until alternative supplies are arranged.

In confirmation of the lack of supply in the market, it is expected that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, which are called OPEC +, Western calls to speed up the increase in their oil production when they meet on Thursday. Six sources in OPEC + told Reuters OPEC + will stick to its plan to add 432,000 barrels per day in July. "This raises the specter of further disruption to the flow of oil through

The oil market was also tense after Iran said on Friday that its navy had seized two Greek oil tankers in retaliation for the United States' confiscation of Iranian oil from an oil tanker seized off the Greek coast. Strait of Hormuz which carries a third of world trade

Oil prices were also supported by the dollar's decline after investors abandoned expectations of an interest rate hike in the United States and as concerns about a global recession faded. A falling dollar makes oil less expensive for importers in other currencies. LINK

Oil Prices Cross $120 A Barrel

Economie  11:22 - 2022-05-30   Oil prices hit a two-month high on Monday, as traders waited to see if the European Union could reach an agreement on a Russian oil embargo ahead of a meeting related to the sixth package of sanctions against Moscow over its invasion of Ukraine.

Brent crude futures rose more than a dollar to $120.50 a barrel, while US West Texas Intermediate crude futures jumped a dollar to $116.10 a barrel, continuing the strong gains made last week.

European Union leaders are scheduled to meet on Monday and Tuesday to discuss the sixth package of sanctions against Russia for its invasion of Ukraine.

Any additional ban on Russian oil will lead to a supply shortage in the crude oil market, which is already under pressure on supplies amid increased demand for gasoline, diesel and jet fuel ahead of the peak summer demand season in the United States and Europe.

EU governments failed to agree on a Russian oil embargo on Sunday, but will continue talks on a deal to ban sea shipments of Russian oil while allowing pipeline deliveries before the summit on Monday afternoon, officials said.  https://kirkuktv.net/AR/Details/6395

Experts On The Rise In Cash Reserves: Oil Imports Doubled Expenditures

Posted On2022-05-30 By Sotaliraq   Baghdad/ Firas Adnan   Economists confirmed that Iraq's monthly oil imports are currently double its expenditures, pointing out that the increase in energy and food prices will cost the treasury $18 billion, but they talked about a significant increase in the Central Bank's reserves in a way that enables it to cover the value of the Iraqi dinar.

Another economic expert, Safwan Qusay, said, "Iraq is going this year without a budget, and this made the government unable to spend more than 101 trillion dinars, which is the amount of spending for the past year."

Qusay continued, "The average monthly spending according to last year's budget is 7.5 trillion dinars," explaining that "Iraq's monthly revenues are close to 15 trillion dinars."

The House of Representatives is seeking to pass a law on emergency support for food security in order to provide financial support to a number of sectors by allocating more than 25 trillion dinars.

Qusay said, "Iraq will get an additional 50 trillion dinars over what it was last year, and the total will be in the range of 120 to 130 billion dollars, which is the revenues for the current year."

He stressed, "The increase occurred after the zeroing of Kuwait's debts in the previous year, which provided us with 3 billion dollars, with the change in the exchange rate of the dollar against the Iraqi dinar, which provided us with 10 billion dollars."

Qusay spoke about “another important factor, which is the rise in oil prices, as a barrel is currently sold at $117 per barrel, as the export quantities will return next month to 3.7 million barrels per day.”

On the other hand, Qusay said, "Iraq needs to increase the dues to purchase energy and foodstuffs, and this requires finding an additional 18 billion dollars to raise the prices of these materials."

He stressed, "The remaining revenues will be about 50 billion dollars, and despite the statement of Finance Minister Ali Abdul Amir Allawi that there will be 20 billion dollars that will go to the reserve, but we believe that the amount will be more than that."

And Qusay, that «the reserves of the Central Bank will rise in a manner that covers the value of the Iraqi dinar, which there is no doubt about its collapse according to these data».

For his part, the economist Nabil Al-Ali said, "The current oil prices in the global markets, which are between 110 to 120 dollars, were expected and within what most of the major economic institutions concerned talked about."

Al-Ali added, "A part of these institutions began to expect a new rise in oil prices during the second half of this year."

He pointed out that "the current rise occurred as a natural result of the repercussions of the war between Russia and Ukraine on the oil market," adding that "the second expectation is the stability of prices as they are and will not decline below $100."

Al-Ali indicated that "the current rates have a great positive impact on the economies of the oil-producing countries, including Iraq, and unlike other oil-consuming countries, they will be affected."

He noted, "The damage to Iraq can occur in one aspect only, which is the rise in consumer product prices in general as a result of the rise in oil prices."

Al-Ali pointed out that “the cash reserve of Iraq is linked to the Central Bank, and the increase that occurred in it during the past period was the result of the rise in oil prices, and this overall reflects the extent of the overall stability of Iraq’s economy and its ability to borrow conditionally during the past period to establish development projects.”

He added, "The rise in revenues has a significant impact on Iraq's credit rating, in that it is not exposed to risks, and these are important indicators that are reflected in the volume of oil needs."

Al-Ali explained, "Once Iraq enters into budgets, these reserves will be eroded, and their increase occurred as a result of the lack of spending after the end of the budget law for the past year."

He called, "there is stability in the cash reserve and there will be no continuous increase, but some amounts are transferred to the accounts of the government or the Ministry of Finance in order to spend them in the development aspects, energy production or gas investment in order to return the revenues."

Al-Ali went on to say that “the reserves are against the local currency in order to find a kind of balance in monetary policy, while the additional revenues can go to government accounts,” stressing that “the increase in the reserves must be linked to an increase in the printing of the local currency so that we have a kind of Stability and balance.

Iraq had started a series of reform measures at the economic level represented in the White Paper, and these measures were welcomed by the international community.   LINK

Memorial Day Update With MarkZ 5-30-2022

Memorial Day 2022 05/30/2022

Some highlights by PDK-Not verbatim

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

Member:  Good Afternoon everyone! And a huge thank you to all who have served our wonderful country!

Member: God Bless us all on this auspicious day of remembrance

MZ: News has been pretty solid over the weekend.

Member: Mark Z Are we going to be RICH June 1st or is a RUSE. or Head Fake.

MZ: I am told in Iraq- they passed the Food Security Bill over the weekend is which is absolutely huge. I am trying to find it in their actual government records…..I believe this is a shot across the bow to move forward with the white papers and the change in value. They are letting us know they are willing to dissolve the entire parliament and start over quickly because this is taking so long to get the government sat. .

MZ: They will do whatever it takes to move forward with economic reforms meaning delete the zeros and increase the value. I think it was great news coming out of Iraq.

MZ: Folks on my banking side and redemption centers still believe redemptions will start on the 1st (June) .I am hoping and praying they meet that goal. Today is already the 30th so it’s not far off to see if they are right.

MZ: Not as much news as I wanted out of Reno, Dubai, Zurich or Hong Kong. Kinda expected for over the weekend and they know it’s a holiday for us. I have not heard any updates or any news of CMKX or settlements yet.

MZ: Mountain Goat had a good post: (From Dinar Guru)  Mnt Goat   Article:  "A WISE ADMINISTRATION RAISED THE PRICE OF THE DOLLAR.. A BOLD TALK BY THE MINISTER OF FINANCE ABOUT A SURPRISE FOR THE IRAQI ECONOMY, WHICH BODES WELL"  Quote:  "...confirmed the increase in cash reserves with the Central Bank to 90 billion dollars by the end of this year,..."  Iraq says they have the security and certainly they have the financial stability. They repeatedly said they needed this for the project to delete the zeros and so where is it? Do you get my point?

Member: Any changes on the rate for the Vietnamese Dong?

MZ: I still hear to look for about $2.25 -$2.30….There has been a lot of grumblings out of Vietnam that they are prepared to make a significant rate change even if the Global Reset doesn’t occur.

MZ: So that answers the question we had “What happens if Iraq goes solo?” . it looks like Vietnam will be going with them…The rate may not be as high a value…but should still be a significant change.

Member: Staying positive that Iraq Vietnam will go at the same time.

Member: ​If the dinar does go first and you exchange please be sure to set aside for taxes. Ask a tax expert if you do not know what to do. Just protect yourself is all am saying.

Member: What could happen if we choose NOT to pay those taxes??? Why would we want to give more money to the Cabal???

Member: I pray there will be No taxes on foreign currency!

Member: If we are paid in fiat and have to pay taxes, Maybe we will get all that back under NESARA?...

Member: If Iraq goes alone we will get fiat money?

Member: What happens if Iraq and Vietnam go and the Us does not have gold backed money?

MZ:   If that happens we would be paid in fiat and most likely would be taxed. And nothing much will change in the country except we will have more money.

Member: I hear….we would get fiat because the GCR isn’t ready yet …..not enough countries including US do not have gold/asset backed money.

MZ: If that happens we will have a big talk about things…..it could create a potential for us….we will be well positioned for the next round of the global reset.  We will just have to adjust our plans.

Member: In other words Change, Adapt and Overcome

MZ: Exactly

MZ: Article:  “ Bofa: Sharp decline in Russian Exports could send oil above $150 a barrel”  You all were sending news from CA –where gas is over $8 a gallon this weekend.

Member: It’s amazing that this hasn’t happened yet. So many hurting people. And it will change everyone’s mindset about money and life

Member: Yesterday was JFK 105th birthday.

Member: Thank you for all you do MarkZ! Have a good Memorial Day!! God bless you and your family.

Member: Thank you for the podcast today Mark. Enjoy the rest of your day. Thank you to all the soldiers for your service and god bless everyone

Member: See you all tomorrow for Coffee

MZ: There will be no update tonight unless there is breaking news…..I will be at a Wedding.

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

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

https://www.youtube.com/watch?v=HjExJo4XaCs

Memorial Day Tribute

Memorial Day Tribute

Posted by JDTolle at KTFA From Dinar Recaps Archives

Memorial Day, originally called Decoration Day, is a day of remembrance for those who have died in service of the United States of America.  Over two dozen cities and towns claim to be the birthplace of Memorial Day. While Waterloo N.Y. was officially declared the birthplace of Memorial Day by President Lyndon Johnson in May 1966, it’s difficult to prove conclusively the origins of the day.

Regardless of the exact date or location of its origins, one thing is clear – Memorial Day was borne out of the Civil War and a desire to honor our dead.

It was officially proclaimed on 5 May 1868 by General John Logan, national commander of the Grand Army of the Republic, in his General Order No. 11. “The 30th of May, 1868, is designated for the purpose of strewing with flowers, or otherwise decorating the graves of comrades who died in defense of their country during the late rebellion, and whose bodies now lie in almost every city, village and hamlet churchyard in the land,” he proclaimed.

The date of Decoration Day, as he called it, was chosen because it wasn’t the anniversary of any particular battle.  On the first Decoration Day, General James Garfield made a speech at Arlington National Cemetery, and 5,000 participants decorated the graves of the 20,000 Union and Confederate soldiers buried there.

The first state to officially recognize the holiday was New York in 1873. By 1890 it was recognized by all of the northern states. The South refused to acknowledge the day, honoring their dead on separate days until after World War I (when the holiday changed from honoring just those who died fighting in the Civil War to honoring Americans who died fighting in any war).

It is now observed in almost every state on the last Monday in May with Congressional passage of the National Holiday Act of 1971 (P.L. 90 – 363). This helped ensure a three day weekend for Federal holidays, though several southern states have an additional separate day for honoring the Confederate war dead: January 19th in Texas; April 26th in Alabama, Florida, Georgia, and Mississippi; May 10th in South Carolina; and June 3rd (Jefferson Davis’ birthday) in Louisiana and Tennessee.

Red Poppies

In 1915, inspired by the poem “In Flanders Fields,” Moina Michael replied with her own poem:

We cherish too, the Poppy red

That grows on fields where valor led,

It seems to signal to the skies

That blood of heroes never dies.

She then conceived of an idea to wear red poppies on Memorial day in honor of those who died serving the nation during war. She was the first to wear one, and sold poppies to her friends and co-workers with the money going to benefit servicemen in need.

Later a Madam Guerin from France was visiting the United States and learned of this new custom started by Ms. Michael. When she returned to France she made artificial red poppies to raise money for war orphaned children and widowed women.

This tradition spread to other countries. In 1921, the Franco-American Children’s League sold poppies nationally to benefit war orphans of France and Belgium. The League disbanded a year later and Madam Guerin approached the VFW for help.

Shortly before Memorial Day in 1922 the VFW became the first veterans’ organization to nationally sell poppies. Two years later their “Buddy” Poppy program was selling artificial poppies made by disabled veterans. In 1948 the US Post Office honored Ms. Michael for her role in founding the National Poppy movement by issuing a red 3 cent postage stamp with her likeness on it.

National Moment of Remembrance

The “National Moment of Remembrance” resolution was passed on Dec 2000 which asks that at 3 p.m. local time, for all Americans “To voluntarily and informally observe in their own way a Moment of remembrance and respect, pausing from whatever they are doing for a moment of silence or listening to ‘Taps.”

Here are the number of casualties in each U.S. war:

Civil War: Approximately 620,000 Americans died. The Union lost almost 365,000 troops and the Confederacy about 260,000. More than half of these deaths were caused by disease.

World War I: 116,516 Americans died, more than half from disease.

World War II: 405,399 Americans died.

Korean War: 36,574 Americans died.

Vietnam Conflict: 58,220 Americans died. More than 47,000 Americans were killed in action and nearly 11,000 died of other causes.

Operation Desert Shield/Desert Storm: 148 U.S. battle deaths and 145 non-battle deaths.

Operation Iraqi Freedom: 4,422 U.S. service members died.

Operation New Dawn: 66 U.S. service members died.

Operation Enduring Freedom: 2,318 U.S. service members have died as of May 12, 2014.

In remembrance of all those who gave the last full measure of devotion for this great nation and the freedoms we all enjoy today.

Red Skelton Explains "The Pledge of Allegiance"

https://www.youtube.com/watch?v=nDnXcw6euIE