MilitiaMan: Iraqi Dinar-IQD Update-Budget Law-Parliament Speaker Vote-Monitoring Financial Exchanges-Next Week

Iraqi Dinar-IQD Update-Budget Law-Parliament Speaker Vote-Monitoring Financial Exchanges-Next Week

MilitiaMan and Crew:  5-31-2024

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

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

https://www.youtube.com/watch?v=dIAX_nvKLq4

Iraq Economic News and Points To Ponder Late Thursday Evening 5-30-24

Iraq Economic News and Points To Ponder Late Thursday Evening 5-30-24

Al-Rafidain Announces The Implementation Of The Comprehensive Banking System In 27 Branches In Iraq

Economy  Thursday, May 30, 2024 Baghdad/National News Center Al-Rafidain Bank

Announced   These two branches join the other branches in which the comprehensive system was activated in Baghdad and the governorates, which amount to 27 branches, in addition to the branches of the border crossings (Zurbatiyah, Safwan, Arar, and Trebil).

This step represents an important part of the bank’s efforts to leave paperwork and move completely towards electronic transformation, in line with the priorities of the government program that focuses on electronic transformation in financial transactions. This transformation aims to reduce the number of red tape for citizens and reduce time and effort in completing their transactions.

Rafidain Bank confirmed that the plan for digital transformation and adoption of the comprehensive banking system is proceeding according to the set timings, with the aim of including all branches of the bank with the application of the system, which enhances the efficiency of banking service and increases customer satisfaction.   https://nnciraq.com/256707/

Learn About The Dollar Exchange Rates In Local Markets

Economy | 11:16 - 05/30/2024  Baghdad - Mawazine News  The exchange rates of the dollar against the Iraqi dinar rose slightly, today, Thursday, in local markets.

Dollar prices rose with the opening of the main Kifah and Harthiya stock exchanges in Baghdad, recording 145,150 Iraqi dinars for every 100 dollars, while yesterday, Wednesday, prices recorded 145,000 Iraqi dinars for every 100 dollars.

Selling prices also increased in banking shops in local markets in Baghdad, where the selling price reached 146,250 dinars, while the purchasing price reached 144,250 dinars for every 100 dollars.

In Erbil, the dollar also recorded an increase in banking shops, where the selling price reached 144,850 dinars against the dollar, and the purchase price reached 144,750 dinars against 100 dollars.https://www.mawazin.net/Details.aspx?jimare=248872

Planning: The Population Census Will Achieve Fair Distribution Of Wealth Among The Governorates

Economy News – Baghdad   The Ministry of Planning confirmed, on Thursday, that the general census of population and housing will give accurate figures about the size of the real population mass in each governorate, and will achieve fairness in the distribution of wealth among them.

The spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that “the general census of population and housing is one of the field foundations for resolving the existing controversy regarding the provinces’ entitlements from the general budget,” explaining that “the census “It will result in a fair distribution of wealth among the governorates, because most of them complain of the limited financial allocations they receive that are not commensurate with their population density.”

Al-Hindawi added, “The estimated and statistical censuses will give accurate numbers about the size of the real population mass in each governorate, and therefore the state ministries will develop their action plans to fulfill the requirements for each governorate to enjoy its right from the general budget, according to the number of its population that will be mentioned in the general census.”

He stressed that "the Ministry is striving to adopt international scientific standards and field methodologies in conducting the census, using modern electronic technologies," expressing his hope that "the accuracy, reliability, and comprehensiveness of the data will reach 90 percent or more." Views 88  Added 05/30/2024 -  https://economy-news.net/content.php?id=43874

The Central Bank Sells More Than $269 Million At Auction Today 

Economy News – Baghdad  Today, Thursday, the Central Bank announced its sales of hard currency, amounting to more than $269 million in today’s transactions, according to the official rate.

The bank's data showed that the total internal cash withdrawals amounted to $19,730,000, while the total amounts of transfers abroad, which include remittances and credits, amounted to $249,569,132, while the total sale amounted to $269,299,132.

Views 57  Added 05/30/2024 - 2:48 PM  https://economy-news.net/content.php?id=43865

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder on Failures and Mistakes

The fearful are caught as often as the bold.- Helen Keller

Inaction, contrary to its reputation for being a refuge, is neither safe nor comfortable.- Madeleine Kunin

They fail, and they alone, who have not striven.- Thomas Bailey Aldrich

You may be disappointed if you fail, but you are doomed if you don't try.- Beverly Sills

It takes as much courage to have tried and failed as it does to have tried and succeeded.- Anne Morrow Lindbergh

Failure is something made only by those who fail to dare, not by those who dare to fail.- Louis Binstock

You don't always win your battles, but it's good to know you fought.- Marjorie Holmes

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

KTFA Thurs.Night CC: “FRANK26….5-30-24…..M R BREAKDOWN”

KTFA

Thursday Night Conference Call

FRANK26….5-30-24…..M R BREAKDOWN

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

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

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

https://www.youtube.com/watch?v=4VdXtxIH-T4

Iraqi Dinar Video Update Thursday Afternoon 5-30-24

Iraqi Dinar Video Update Thursday Afternoon 5-30-24

World Bank Announced IQD Exchange Rate – 5:58

Finally CBI Confirmed Iraqi Dinar Exchange Rate – 4:49

WOW US Treasury Confirmed IQD RV – 7:26

World Bank Announced IQD Exchange Rate – 5:58

https://www.youtube.com/watch?v=ZSTeHhnr9Sc

Finally CBI Confirmed Iraqi Dinar Exchange Rate – 4:49

https://www.youtube.com/watch?v=zmewVp3HCz4

WOW US Treasury Confirmed IQD RV – 7:26

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

Goldilocks' Comments and Global Economic News Thursday Evening 5-30-24

Goldilocks' Comments and Global Economic News Thursday Evening 5-30-24

Good Evening Dinar Recaps,

"Big Short’ investor Michael Burry just made a multimillion-dollar bet on gold — and dumped tech giants Alphabet and Amazon. 3 ways to add the yellow metal now"

The move from a bull market in stocks has shifted to a bull market run in gold. Since gold is being interfaced inside digital assets that represent our traditional assets, our traditional assets will maintain a steady value even if they go to a lower value. Some will rise in value. These new stock digital values will at least be a solid value, and it will be as good as gold.

Big money is starting to finally pour into gold. Why? Gold has outpaced the S&P 500 with a gain of 11.7% since the beginning of the year. Gold was trading at $2,062 per ounce. Today, it’s at $2,357 per ounce.  This is a 14.3% increase.

Gold deflates an inflated economy. Not only this is going on at this time, but we have BRICS Nations trading in their local currency with the stipulation of joining stating that each country who joins holds gold.

To top it all off, the Global Economy is moving into virtual assets that are called "tokenized assets." Each asset contains gold to support its value even the stablecoins which represents a country's currency has to have enough gold to sustain a Level Playing Field price in trade.  MoneyWise   YCharts.

Everything is turning to gold, and gold will set us free.

© Goldilocks

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READ DOC Here:

Thank you Sam for finding the above information for me. I knew it had to be somewhere.

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Everything on the new QFS either relates to gold, or it is backed by a precious metal.

These new digital standard protocols will be the mechanism by which money is moved going forward.

The future of money is in gold. Everything the world touches going forward will be because of a metal asset that enables it to do so.

© Goldilocks

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Status of Banks’ Unrealized Losses in Q1: Worsened after Brief Rate-Cut-Mania Relief | Wolf Street

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New York Stock Exchange to list Bitcoin options -  Ledger Insights - blockchain for enterprise

Bitcoin Announcement:

"Today the New York Stock Exchange (NYSE) said it plans to launch cash-settled spot Bitcoin options with the price tracking the CoinDesk Bitcoin Price Index (XBX), subject to regulatory approval."

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Once our digital assets moving towards regulation and becoming law are complete, the ability to move our "tokenized assets" backed by gold as a tier one asset will bring the banking system and the markets into correlated price patterns.

This will enable us to move forward with the new economy and begin the process of credit valuation adjustments across all sectors of the market including Forex.

© Goldilocks

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The BuyBacks that started yesterday have not turned the markets around. BuyBacks usually reset a market and support a market. So far, it is not working. The next FOMC meeting is June 11th through the 12th. We may be looking at some monetary policy changes. We have to keep our eyes open much wider than before...

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Article (10) of the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and based on the supervisory and supervisory role of this bank, it was decided to oblige the Anti-Money Laundering and Terrorist Financing Department in the electronic payment service providers/processors company to follow up on the movements that take place. On cards (whether prepaid, credit or debit)

https://cbi.iq/news/view/2595

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Meeting with the Minister of Agriculture at ROSL, 2024 | Youtube

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Comparing the IQD to the VND Iraqi News IQD VND HTG Rates | Youtube

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THE WORLD ECONOMY IS COLLAPSING FASTER... AND SOCIETY IS BEING "DECONSTRUCTED." Mannarino | Youtube

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Trading Halt | Investopedia

Market Announcement:

A delay in ticker reporting was announced about an hour ago. This delay is expected to be over 2 hours.

This does not make sense to me as a trader. Something is not right. Why would anyone buy in a stock market whereby the buy/sell indicators were delayed?

This is very dangerous.

"Trading can be halted in anticipation of a news announcement, to correct an order imbalance, as a result of a technical glitch, due to regulatory concerns or because the price of the security or an index has moved rapidly enough to trigger a halt based on exchange rules."

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It looks like I have the rest of the day off.

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All Time High Asset Prices | Youtube

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Ripple submits a letter to Judge Torres:

1 & 2

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Thank you Dinar Recaps

De Dollarization: Are American Allies (the EU) joining BRICS move?

De Dollarization: Are American Allies (the EU) joining BRICS move?

Fastepo: 5-30-2024

You may have heard the term de-dollarization. This concept involves reducing reliance on the US dollar for international trade, financial transactions, and reserves.

 While it is often associated with eastern or anti-western countries like the BRICS nations and their allies, the trend has now expanded beyond these regions.

Surprisingly, even the European Union has joined the movement, reflecting a broader shift in global financial strategies. The trend towards dedollarization in Europe and globally is gaining momentum, driven by several geopolitical and economic factors.

The EU's drive towards de-dollarization is motivated by several strategic factors. Primarily, it aims to reduce vulnerability to US sanctions, which impact European businesses by limiting their ability to engage in transactions involving the dollar

Enhancing financial autonomy is another key motive, allowing the EU to implement independent economic policies and increase the euro's stability as a global currency.

Promoting the euro in international trade helps mitigate exchange rate risks and strengthens the EU's geopolitical influence. Economic stability and risk diversification are also crucial, as reliance on the dollar exposes the EU to economic fluctuations and US policy changes.

 Additionally, facilitating trade with countries like China and Russia, which are also pursuing de-dollarization, and leveraging technological innovations in financial systems, such as SEPA and the digital euro, further support this strategic shift

 In this video, we dive deep into the concept of de-dollarization from the EU's perspective.

https://www.youtube.com/watch?v=nCA_Zmm2etI

Some “Iraq News” Posted by Clare at KTFA 5-30-2024

KTFA:

Clare:  Professor Frank Gunter launches a new white paper on de dollarisation of Iraqi economy.

29th May 2024

‘Two Cheers for Iraq: The Dinar – Dollar Exchange Rate Challenges’

Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC’s advisory council on the challenges of de-dollarisation for Iraq. 

The Advisory Council members and IBBC members have actively contributed to the paper in the past 4 months. It will be presented online on the 18th June in a webinar and in person at the Spring Conference on 2nd July. The Arabic translation will be published soon.

Professor Gunter provides an analysis of the drivers of impact on the dinar exchange rate and examines how best to deal with the parallel market of dinars to dollars. He outlines the practical policy initiatives that should reduce the gap between the official and parallel exchange rates in the medium-term.

In particular he lauds the Government of Iraq on its commitment to tackle corruption and to modernise the banking system in one fell swoop but warns of the pressure on the dinar exchange rate as budgets are overstretched and the new banking recipients (state banks) receive the liquidity to enable the economy to perform.

He writes ‘All three of these forces – the anti-corruption effort, the banking liberalization, and the lavish 2023-2025 budget – will create challenges for the management of the dinar exchange rate. One could argue that over the last two decades the Government of Iraq (GoI) had little control over its exchange rate; that exchange rate policy was determined by other sectors of the political economy in Iraq. But even if this is true, the level of the exchange rate and changes in that level are believed by many Iraqis and foreigners as providing valuable insight into the quality of economic management in Iraq.

This importance is exemplified by the current efforts to de-dollarize the Iraqi economy while there is excess demand for dollars. This excess demand is shown by a parallel exchange rate of roughly 1500 dinars per dollar compared to the official exchange rate of 1310 dinars per dollar.

An important cause of this exchange rate gap is that the GoI, with the strong encouragement of the U.S. Federal Reserve, is attempting to reduce the use of the U.S. dollar in both Iraq’s internal economy and its external transactions.

Since 2003, the U.S. dollar has facilitated economic growth in Iraq by providing a widely accepted medium of exchange for purchases as well as a reliable store of value for savings. In the long run, whether de-dollarization will have a significant adverse impact on the Iraq economy will depend on how rapidly the GoI can increase both the efficiency of alternative mediums of exchange and the perceived security of alternative stores of value.’

The report is available here to download.

https://iraqbritainbusiness.or.....qi-economy

Together we build Iraq

The Iraq Britain Business Council brings together business, trade and investment from the UK and International companies, for the benefit of the Republic of Iraq and its members.

Committed to a free, prosperous and diverse Iraq, IBBC creates strong relationships with Iraq, from Government to private companies, to benefit business, industry and the people of Iraq.

IBBC 

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Clare:  Al-Sudani announces the opening of 48 electrical power transmission stations throughout Iraq

5/30/2024

Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani announced the opening and operation of 200 electrical stations throughout Iraq’s regions and cities.

Al-Sudani’s media office stated in a statement that the latter opened and operated “48 electrical power transmission stations for ultra-high and high pressure, and 152 electricity distribution stations throughout all governorates of Iraq, within the first phase of a package of projects to resolve bottlenecks in electricity transmission and distribution networks in Baghdad and a number of governorates.”  LINK

Clare:  Hisham Al-Rikabi confirms the government's interest in restoring Iraq's status on the Arab and international levels

5/30/2024

Member of the Board of Commissioners of the Media and Communications Commission, Hisham Al-Rikabi, confirmed today, Thursday, the government’s interest in restoring Iraq’s status on the Arab and international levels.

Al-Rikabi said in a blog post on the “X” platform: “The decision to choose Iraq to head the Council of Arab Information Ministers and to host Baghdad for its fifty-fifth session came as a result of the government’s interest in restoring Iraq’s position on the Arab and international levels and the keenness of the Media and Communications Commission to develop this sector and continue consolidating the foundations of freedom of opinion and expression.” In the country."  LINK

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Clare:  Sudani: Receiving international events reflects the state of stability in Iraq

5/30/2024

Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani expressed his appreciation for the distinguished results of Iraq in the West Asian Athletics Championships held in Basra, stressing that the reception of international events reflects the state of stability in the country.

Al-Sudani said in a tweet on his website on the “X” platform: “Greetings to the athletics champions as they reap distinguished results in the West Asian Championship for women and men, which is hosted by Basra Governorate with the participation of several Arab and Asian countries.”

He added, "Hosting Arab and international sports events, in Baghdad, Basra, and our beloved governorates, reflects the state of stability that our country is witnessing in various fields, and enhances government support for the plans and programs that we have directed to advance the sports sector in general."   LINK

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Clare:  Iraq executes 8 terrorists

5/30/2024

A security source led by the Dhi Qar Governorate Police said today, Thursday, that the Ministry of Justice carried out the death sentence against 8 terrorists in Nasiriyah Central Prison, known as “Al-Hout” Prison.

The source stated, "Today, a team from the Ministry of Justice supervised the execution of the death sentence against 8 ISIS terrorists in Nasiriyah Central Prison (Al-Hout)," pointing out that "among those carrying out the death sentence was a terrorist nicknamed (Al-Sumaidaie)."

The source stated, "The implementation of the death sentence against the terrorists came after their rulings became final and were approved by the President of the Republic." LINK

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Clare:  Customs explains the importance of implementing the single window system

5/30/2024   Baghdad - IA - Hassan Al-Fawaz

The General Authority of Customs confirmed today, Thursday, that work is underway to implement the single window system, while indicating that the system simplifies procedures for the importer and exporter, and contributes to facilitating the movement of legitimate trade.

The head of the authority, Hassan Al-Ugaili, told the Iraqi News Agency (INA): “The authority works with two systems, the developed electronic declaration system that is applied in 6 centers, and the Asycoda system, which will replace the electronic declaration system.”

Al-Ugaili explained, “The Authority has begun implementing the ASYCUDA system, which is an international system, more reliable and more robust, and therefore it will replace the electronic declarations system in all those centers, but it will be implemented successively.”

He added, "The authority is working on a single window system, which is linking all state institutions concerned with customs work in one window, so the work will be completed faster and more accurately."

He stated that "the system will simplify procedures for the importer and exporter, and will contribute to facilitating the movement of legitimate trade," adding, "This is one of the stages of the ASYCUDA system, which is access to the single window for trade."  LINK

More News, Rumors and Opinions Thursday Afternoon 5-30-2024

Entire Financial System Can Go Down Soon – Chris Martenson

By Greg Hunter’s USAWatchdog.com 

Dr. Chris Martenson holds a PhD in pathology from Duke University, is a futurist and an economic researcher.  Dr. Martenson was one of the very few scientists who called…[rest of paragraph redacted]

In a new market meltdown, Dr. Martenson sees chaos and gives a hypothetical example: “China attacks Taiwan, and there is a 10 sigma move in the bond market.  Oh no, all these derivatives have blown up.  These people are supposed to be winners, and these people are supposed to be all losers.  No, no, they don’t have any money for that stuff.  It’s too complicated.  I don’t think anybody understands how this works anymore. 

 I could not find anybody who could tell me the whole thing.  I could find people who knew bits and pieces, but they knew their slice. . . . I am trying to stitch this thing all together. 

I get uncomfortable when I can’t answer the most basic questions, and that is how much risk is there in the system and where is it?”

In short, Dr. Martenson is worried about the whole financial system going down.  Dr. Martenson says, “Yes, I am worried about the whole system going down, and that leads to all sorts of speculation. . . .

 Imagine this, we wake up one day, and the markets are not open on Monday.  Oh no, glitch.  Problem.  Then, it’s two days and not open, three days not open.  People are getting worried.  Friday, and the markets are still not open.  Monday comes, and they say it’s a super big problem, and we don’t know how to resolve it. . . . They offer you 100% value today in a Central Bank Digital Currency (CBDC) account or you can wait it out and hope it gets resolved, and it might take a decade.”

Dr. Martenson likes gold, silver, land and basically all (clear title) physical assets to protect you from “The Great Taking.”  Martenson has an upcoming seminar with “The Great Taking” author David Webb (and others) to help you to counter the theft that will surely come in the next financial meltdown.

In closing, Dr. Martenson says, “This has been a series of large amplitude blunders that keep getting bigger and bigger.  The Great Taking” is the framework built, that just in case all this colossal blundering blows up, Congress and Wall Street flips a coin and you get heads we win and tails you lose.  This is the oldest story in the book.”

There is much more in the 38-minute interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with the founder of PeakProsperity.com, Dr. Chris Martenson for 5.28.24.

https://rumble.com/v4y3dpu-entire-financial-system-can-go-down-soon-chris-martenson.html

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VAL THOR

THIS AM I CALLED MY CREDIT UNION, ONLINE BANKING WAS DOWN. 

I ASKED IF THEY WERE CONVERTING OVER FROM SWIFT TO QFS. 

AN IMMEDIATE YES! 

ONLINE 3 HRS LATER. IT HAD BEEN DOWN FOR 15 HRS.

https://dinarchronicles.com/2024/05/29/val-thor-credit-union-acknowledges-qfs/

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

Militia Man  Article quote: "If we assume the Central Bank issues a new currency this will not affect the exchange rate of the Iraqi dinar."  This guy is not wrong...It won't in my view.  The exchange rate will affect the new small denominations though...If they change the value of the exchange rate by dropping the three zeros, therefor the new denominations will be affected by it, which will be value.  It's pretty simple.

Mnt Goat  ...we read three articles about the CBI official rate equaling the Parallel or Black market rate in the coming days. WOW!...Saleh, the prime minister’s financial advisor, then goes on to say this will make one dinar equal to one dollar in Iraq. WOW! ...I was told by my CBI contact months ago to watch for right before the CBI makes one more “official” rate change closer to 1000 from 1320. If you take 1000...and delete the three zeros 1000 what do you have? Of course, you have a situation of 1 dinar equals 1 dollar...But I believe that when they CBI does make this next official rate change it will move closer to 1166 and not 1000 which would make 1 dinar = 1.16 dollars just over a dollar to help the banks retrieve these dollars hoarded outside of the banks...   Let’s sit tight and watch this play out.

Jim Rickards Warns Real Danger is Not U.S. Treasuries Collapsing but Something Far Worse

Daniela Cambone:  5-30-2024

Russia could retaliate by freezing the entire Western clearance system, warns Jim Richards, New York Times bestselling author.

 In an exclusive interview with Daniela Cambone, Richards explains that if Western countries seize Russian assets, Russia could sue Euroclear, the largest clearing, settlement, and custody organization in Europe, to recover damages.

“You could throw a monkey wrench into the entire global clearance and settlement system by disrupting Euroclear, which is probably second only to DTCC in terms of settlement and clearance.”

Additionally, Richards states that we may need to return to the gold standard to restore confidence in the U.S. dollar.

“But if you have to go back to a gold standard, $27,000 would have to be the price in order to avoid massive deflation.”

https://www.youtube.com/watch?v=hM8EcWUb4mI

Some “BRICS News” Thursday 5-30-2024

BRICS Announce Resolution For New Payment & Settlement Activities

Arcadia Economics:  5-29-2024

The BRICS International Financial and Economic Forum opens on Monday in Moscow, and according to the organizing committee of the forum, a resolution will be adopted on new payment, settlement, and emission activities of the countries of the association.

We've talked on the show previously about a currency project called The Unit, that is reportedly being moved forward with the BRICS Business Council as a potential structure for a payment settlement mechanism.

And now the latest announcement sheds more light on what the BRICS are aiming for, with the information this time coming directly from them.

 Vince explains what happened and what it means, and also goes through the latest gold and silver news and developments. To find out more, click to watch the video now!

https://www.youtube.com/watch?v=Amz6zQaCMt8

BRICS Expansion: Venezuela Officially Ditches Dollar!

GlobalEconinsights:  5-29-2024

BRICS expansion: Venezuela officially ditches Dollar! In a move signaling a shift in global economic power, Venezuela has officially announced its decision to ditch the dollar in favor of closer ties with the BRICS nations - Brazil, Russia, India, China, and South Africa.

This strategic move is seen as a significant step towards reducing dependency on the US currency and forging stronger alliances with emerging economies. Stay tuned to learn more about how Venezuela's decision to join the BRICS alliance could impact the global financial landscape.

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

Karen's ad code

Iraqi Dinar Today Video Update Wednesday AM 5-30-24

Iraqi Dinar Today Video Update Wednesday  AM 5-30-24

Finally Iraqi dinar Rate 1 To 1USD Exchange Rate – 3:52

JP Morgan Chase Bank Manager Announcement about IRAQI dinar rate set – 2:37

Its Massive Come back , Finally Wait is Over  Big Hope Big IQD Exchange Rate – 2:49

Iraq get Ready for Exchange your Dinar- 4:53

Finally Iraqi dinar Rate 1 To 1USD Exchange Rate – 3:52

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

JP Morgan Chase Bank Manager Announcement about IRAQI dinar rate set – 2:37

https://www.youtube.com/watch?v=YXJnO4_aLSY

Its Massive Come back , Finally Wait is Over  Big Hope Big IQD Exchange Rate – 2:49

https://www.youtube.com/watch?v=7HbLRRg7x3U

Iraq get Ready for Exchange your Dinar – 4:53

https://www.youtube.com/watch?v=9sUiaT_JhGA

Would You Pay €1 For This House?

Would You Pay €1 For This House?

Notes From the Field by James Hickman (Simon Black)  May 29, 2024

In 2007, Giuseppe Ferrarello found himself facing a monumental challenge as the newly-elected mayor of Gangi, Italy — an incredibly picturesque yet dwindling town nestled in the mountains of Sicily.

Like many rural communities across Italy and beyond, the village of Gangi was grappling with depopulation and economic decline. Once home to 15,000 people, its population by 2007 stood at just 7,000. Young people in particular were leaving to seek job opportunities in northern Italy and elsewhere in Europe, leaving behind aging parents and empty houses.

At first glance, the situation seemed hopeless. Gangi’s inland location far from the coast rendered it unattractive to tourists.

But Ferrarello refused to give up and adopted a bold strategy to revitalize his town through the “One Euro Houses program” — a pioneering initiative aimed at attracting new residents and rejuvenating abandoned properties.

Under the program, buyers could purchase local derelict houses for a symbolic price of just one euro... but with strings attached. New owners had to commit to restoring the properties within four years.

Ferrarello’s idea was successful in attracting foreign investors. And over the next few years, the little hamlet was recognized as the “Jewel of Italy,” and named one of the “The most beautiful Italian villages.”

New residents and tourists from Europe and beyond arrived, to the delight of the local businesses and artisans.

And over the following years, several towns across Italy, Spain, France, and even the UK launched their own projects offering housing at a ‘symbolic price’.

At face value it seems like a stupendous bargain to buy a house in Europe for just 1 euro. But are these offers really worth the strings attached?

Super cheap real estate deals across various EU countries exist because the properties are worthless to their current owners. These often-dilapidated homes are located in small towns far from major population centers and tourist attractions, and many have been abandoned for generations, requiring extensive renovation.

Property taxes, though modest, make these properties a burden. And buyers typically must commit to spending at least €35,000 to renovate the property within two to three years.

If you fail to meet these obligations, you risk losing a €1,000 to €5,000 insurance deposit held by the municipality, losing the property, or both.

Other costs include €1,500 in legal fees, and roughly €3,500 for mandatory civil engineering and architectural plans.

There’s also no guarantee that €35,000 will be enough to complete renovations; many of these properties are “historic,” meaning you can’t do whatever you want. Plenty of local regulations will govern what you can and cannot do.

Therefore, renovating a small, 100 square meter (1,076 sq.ft.) home can cost between €60,000 and €160,000 to bring it to a livable and rentable condition.

Engaging in such a project could certainly benefit adventurous souls with ample free time.

But there are other challenges as well. You either need to speak Italian and be prepared for the complexities of southern European bureaucracy, or you’ll have to spend even more money on project managers.

Even if you persevere through the purchase and renovation process, consider the most probable outcome — an illiquid property in a tiny village lacking appeal to both Italians and foreigners alike. Because most of these towns aren’t as successful as Gangi at reigniting their tiny economies.

But if owning a beautiful home in Italy is your goal (and part of your Plan B), it probably makes more sense to just look at the wide selection of regular cheap properties available throughout the country.

After all, owning an Italian home does offer the allure of breathtaking scenery, cultural richness, relaxation, outdoor activities, and even an investment potential… all in one picturesque package.

Even for as low as €60,000 to €160,000, you can find a nice Italian property with no strings attached — no hunting for reliable information, no applying for remodeling and construction permits, no actual renovation, and no time wasted.

Properties almost anywhere in Italy remain remarkably cheap, as the country has, so far, missed the real estate boom experienced by its European neighbors.

As of March 2024, the average Italian property price per square meter stood at €1,850, just 6.6% higher than the nationwide low recorded in February 2020.

Property prices in Spain average €2,098 per sq.m., and €2,596 in Portugal.

And 22 provinces (out of 106) across Italy have current province-wide prices below €1,000 per square meter. That’s definitely cheap.

For example, in Gangi, the original “€1 house” village, this 151 sq.m., 3-story house in the town center offers great views, is in livable condition, and is selling for just €35,000.

(Personally, I’d rather pay 35k for the finished home than have paid 1 euro and gone through all the time, money, and work to renovate it.)

And it’s not just the cheaper southern Italy that has these deals.

Genoa — a famous port city just south of Milan, and the birthplace of Christopher Columbus — is still 47% below its 2012 peak, with plenty of options below €1,000 per square meter.

Biella — less than 90 minutes from Milan and situated right at the foot of the Alps, next to lakes, mountains, and ski resorts — offers this spacious and modern 250 sq.m. apartment located right in the town’s historic area, selling for €155,000 — a very inexpensive €620 per square meter

Now, believe it or not, this article isn’t really about buying property in Italy. To some people, Italy may be their idyllic retirement dream. Others couldn’t care less. The larger issue is how to think about a “Plan B”.

Remember, the central idea behind a Plan B is to mitigate risks by taking sensible actions — actions which make sense regardless of what happens (or doesn’t happen) in the future.

For a lot of people, a big part of their Plan B is having a second property overseas. A second home abroad, combined with residency or citizenship, is sort of like an insurance policy: you might not ever need it… but in case you ever do, you’ll be damn glad you have one.

A second residence means that you’ll always have a place to go in case, for whatever reason, you need to leave your home country. This could be enormously valuable to you and your family.

But even if that day never comes (and hopefully it doesn’t), it’s hard to imagine you’ll be worse off for owning a nice property in a place where you really enjoy spending time-- which you were able to purchase on the cheap and generate modest cashflow while you’re not using it.

For some people, Italy ticks that box. For others, it doesn’t. And for others, buying a second home isn’t the right move either. Everyone has unique, individual circumstances.

The key idea is that we can apply this same logic to other elements of a Plan B, including our finances.

For example, we have long argued why inflation will grow and become a major problem for the US dollar in the coming years; it will be extremely difficult to take on $20+ trillion in new debt in the next decade without serious, serious inflation.

Real assets are a major inflation hedge. And right now, many real assets-- including key commodities and the companies which produce them — are historically cheap.

We’re talking about high quality gold or copper miners that generate fantastic profits, have virtually zero debt, and pay 8%+ dividends… yet their shares trade at laughably low valuations.

If our inflation thesis plays out as expected, these types of companies will do extremely well, and shareholders could be richly rewarded.

But even if inflation never materializes (which is highly doubtful), it still makes sense to consider owning a strong, profitable business that pays a great dividend.

James Hickman Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/would-you-pay-e1-for-this-house-150891/