Dinar Recaps Blog Page — Dinar Recaps (2024)

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In his keynotes,Hoskinson delved into the ongoing situation ofAI leveraging blockchain as an incentive and trust layer to create a decentralized marketplace for data, models, and inference.

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ECB countries noted significance of arising climatic risks and recognized the need to assess these risks and roll out approaches towards their recording and regulation.

"The majority of countries considers over time the possibility of introducing regulation for banks in management of climatic risks within the framework of internal procedures of capital adequacy assessment and risk-sensitive stimulating regulation," the Bank of Russia said.

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This walletwill revolutionize identity verification by offering users a secure and seamless way to confirm their identity with greater certainty.

Furthermore, this Wallet will allow users to share verified information, including email, age, address, and contact numbers, just with a click of a button.

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Among Them Is The Delay In Distributing Profits.. An Economic Diagnosis Of The Reasons For The Decline In Stock Prices On The Iraqi Stock Exchange

Stock Exchange Economy News – Baghdad Financial markets expert, Tamara Hussein, attributed the decline in stock prices on the Iraqi Stock Exchange today, Thursday, to the lack of demand from investors.

Most of the stocks in the Iraq Stock Exchange have witnessed a decline in their value since the tension in the region, as the leading stocks continue to decline.

Hussein said, in an interview with "Al-Eqtisad News", that "the decline in stock prices in the Iraqi Stock Exchange is due to many reasons, the most important of which is the weak demand due to the lack of liquidity available in the market, as well as the increase in banks' capital through subscriptions that were conducted in previous months, as they withdrew a lot of money from investors."

She added, "The other reason is the delay in distributing the profits that were approved by some banks," adding, "We hope that the market's performance will improve after they are distributed."

She pointed out that, "The third issue revolves around foreign investors' sales, in addition to inaccurate news that talks about the possibility of a global crisis in the financial markets, which caused a state of panic and withdrawal from trading, which is an expected and natural situation."

The financial markets expert expected that "leading companies will regain their usual positions in the coming months." To view the latest news, follow us on Telegram https://t.me/Economynews2021 - https://economy-news.net/content.php?id=46336

The Stock Market Ends The Week With Losses

Stock Exchange Economy News – Baghdad The stock market ended its week, Thursday, with losses of 0.20%. The session witnessed the trading of 3.4 billion shares, worth 1.8 billion dinars.

552 transactions were executed on the shares of 36 traded companies.

The value of shares of 15 traded companies decreased, while the value of shares of 5 other companies increased. 103 viewS 2024/08/15 - https://economy-news.net/content.php?id=46354

Central Bank Of Iraq Announces The Establishment Of A Complaints Management Platform

Banks Economy News – Baghdad The Central Bank of Iraq announced, on Thursday, the establishment of a platform to manage citizens’ complaints, while confirming that the period for processing the complaint will not take more than five days.

The Central Bank's media office said in a statement, seen by "Al-Eqtisad News", that "the platform was created in the context of work to develop institutional work performance and simplify government procedures by shifting to digital transactions, and for regulatory objectives that are consistent with the Central Bank of Iraq Law No. (56) of 2004 as the sectoral body supervising the work of all licensed financial institutions."

He added, "The establishment of the platform also came in view of the continuous development witnessed by the electronic financial industry, and due to its great importance in achieving economic growth, financial stability and enhancing levels of financial inclusion, the Central Bank of Iraq has created an electronic platform for managing the complaints system."

He added, "The work of the platform is summarized in automating the receipt of all public complaints by financial institutions via the electronic complaint form link, and its processing is managed under the supervision of the Central Bank of Iraq and its financial institutions through this platform." He continued,

"The period of processing the complaint does not take more than five working days, by the financial institution concerned with the complaint, in addition to its importance and nature."

The bank indicated, according to the statement, that "the prepared platform is in the training phase for authorized banking and non-banking financial institutions, and it will be launched in real time after the training operations are completed."

The Central Bank published the platform link, which appears below:

https://cbi.iq/static/uploads/up/file-172371164075527.pdf

116 views Added 2024/08/15 - https://economy-news.net/content.php?id=46348

Al-Sudani's Advisor: Iraq's External Debt Does Not Exceed 9 Billion Dollars

Economy | 12:16 - 08/15/2024 Mawazine News – Baghdad The financial advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Thursday, that Iraq's external debts do not exceed 9 billion dollars.

Salih said that "Iraq's external debts due during the current decade do not exceed 9 billion dollars in all cases."

He added that "the general budget provides sufficient annual allocations to service all debts, which means paying installments and interest, according to the nature of the debt, which is called debt amortization."

He continued that "Iraq has not recorded any default in paying its external debt obligations over the past twenty years," noting that "payment mechanisms are carried out according to strict financial and banking rules that are highly coordinated between the Ministry of Finance and the Central Bank of Iraq."

He added that "this has shown sustainable stability in the creditworthiness indicators of global rating agencies, since the adoption of the first credit rating for Iraq in 2016 until the present time."

https://www.mawazin.net/Details.aspx?jimare=253309

Dollar Exchange Rates Stabilize In Baghdad And Erbil

Thursday 15 August 2024 10:34 | Economic Number of readings: 175 Baghdad / NINA / The exchange rates of the US dollar stabilized, Thursday morning, in the markets of Baghdad and Erbil.

The price of the dollar stabilized with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 150,000 Iraqi dinars for every 100 dollars, which is the same price as yesterday, Wednesday.

The selling price stabilized in exchange shops in the local markets in Baghdad at 151,000 dinars, and the purchase price was 149,000 dinars, for every 100 dollars.

In Erbil, the dollar also stabilized in exchange shops at a selling price of 150,000 dinars and a purchase of 149,900 dinars for every 100 dollars. / End H To https://ninanews.com/Website/News/Details?key=1147871

For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/

Evening News with MarkZ and Dr. Sott Young. 08/15/2024

MarkZ Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions

MZ: Very cool bank story sent to me: “I’m with a very small credit union in Alabama. I went this morning and asked if they had the new currency ready? The teller grinned and pointed to a large metal machine between them…She said that as soon as somebody wants to withdraw cash and corporate gets the code- the machine will start spitting out the notes. These branches only have 2 tellers and they both were really excited to talk about it.

MZ: Some of the newer banks have a machine that counts …I love it…They know about new currency and already have it pre-loaded in the machine. They just need the code to turn the machine on as soon as corporate gets it….Then we get the new money. For me this was an epic bank story.

Member: My CHASE BANK in Tulsa, OK has the new ATM’S. Bank manager walked us through it. I was depositing cash and I would have NEVER done that. Just laid my cash in the door and got my receipt.

Member: I have used the new ATM at my CHASE BANK. But the bank manager still insists that they won’t be accepting foreign currency, even though they sell it ?????

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

Please listen to the replay for all Dr. Scott’s Information and Opinions

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

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

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

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

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

Youtube: https://www.youtube.com/watch?v=_kjPxcMH1mU

KTFA:

Clare: The Central Bank of Iraq organizes an awareness workshop on illicit gains

August 15, 2024

The Central Bank of Iraq, Human Resources Directorate/Women's Affairs Division, organized an awareness workshop on illicit gains in cooperation with the Integrity Commission.

The workshop addressed the laws, legislation and penalties related to illicit gains and the importance of applying e-governance in state departments and institutions to reduce them.

The workshop reviewed the role and efforts of the Central Bank of Iraq in responding to the requirements of the Integrity Commission, especially in implementing the National Strategy for Integrity and Combating Corruption (2021-2024).

It is noteworthy that the Central Bank of Iraq has organized many seminars and workshops for its employees in the field of combating corruption during the past months.

Central Bank of Iraq
Media Office
August 15, 2024

https://cbi.iq/news/view/2641

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Clare: Parliamentary Finance Committee to US Delegation: The Triennial Budget Represents an Important Message to Foreign Companies

8/14/2024 Baghdad

The head of the parliamentary finance committee, Atwan Al-Atwani, confirmed to the delegation of the US embassy in Baghdad, on Wednesday, that the three-year budget represents an important message to foreign companies.

The media office of the head of the parliamentary finance committee said in a statement, seen by "Al-Eqtisad News", that "the head of the parliamentary finance committee, Atwan Al-Atwani, received a delegation from the US embassy in Baghdad, headed by the Minister Plenipotentiary for Economic and Commercial Affairs, Julie Jules."

The statement added that "Al-Atwani reviewed - during the meeting - the financial and monetary situation in the country, and the role of the finance committee in monitoring the implementation of the general budget law, especially the paragraphs related to maximizing non-oil revenues or those supporting the private sector and investment."

It pointed out that "Al-Atwani addressed the most important challenges facing financial policy in Iraq, most notably the restrictions and procedures of the US Treasury, which have had a significant impact on the work of the banking sector and caused the continued crisis of fluctuations in the dollar price."

The head of the finance committee - according to the statement - touched on "the importance of the private sector entering as a major partner with the government in implementing and financing projects and providing services," stressing "his committee's determination to approve the law on partnership between the public and private sectors, in addition to amending the tax law in a manner that keeps pace with the development taking place in the work of the tax system, whether in providing services or collection."

The statement added that "the meeting discussed ways to enhance joint bilateral cooperation between Iraq and the United States within the framework of the Strategic Framework Agreement, and to activate its economic contents related to developing capabilities and helping to reform the financial and banking system."

For its part, the US embassy delegation praised "the experience of the three-year budget for its tangible positive repercussions in terms of improving the living conditions of Iraqis and enabling the government to perform its duties," stressing "its readiness to cooperate and work together with the Finance Committee to solve the existing problems between the US Treasury and Iraqi banks."

Al-Atwani stressed - according to the statement - that "the three-year budget represents an important message to foreign countries and companies that Iraq's financial situation is good and there is no obstruction or halt in contracts and implementation," explaining that "Iraq is rich in its wealth and energies and all it needs is wise management of money."

He continued, "We suffer from the problem of unfair US Treasury sanctions against 14 Iraqi banks without prior warning," indicating that "obligating Iraq to cover its foreign transactions through the platform and punishing a large number of its local banks are among the most important reasons for the continuation of the dollar crisis and the creation of the parallel market."

Al-Atwani expressed his "hope that this meeting will be a starting point for a new phase of cooperation, understanding and assistance in addressing the problem of US Treasury restrictions and procedures on the financial and banking sector." LINK

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Clare: Italian company begins work on updating Mosul's basic design

8/15/2024

The cadres of the Italian company in charge of the project to develop and modernize the basic design of the city of Mosul began, today, Wednesday, the geographical survey work in the city.

Nineveh Deputy Governor for Reconstruction Affairs, Abdul Wahab Sultan, told Shafaq News Agency, "The cadres of the Italian company (SGI), which is responsible for the project to update the basic design of the city of Mosul, have started their work in the field geographical survey in the city, in the first steps aimed at implementing the project to develop the basic design of Mosul."

Sultan stressed that "the Nineveh Governorate administration is proceeding with all its energy and determination to develop Mosul and change its reality for the better, which can only be achieved through implementing the city's basic design expansion project."

Last March, the governor of Nineveh announced the signing of a contract to update and expand the basic design of the city of Mosul, after the last expansion of the city since the year 2000.

The expansion of Mosul includes a distance of 7 km in all directions from Mosul, and the new design is supposed to secure 160 thousand dunums of land that will be allocated to establish large projects and infrastructure that will serve the city and all components in Nineveh.

Over the past years, the project has been met with objections from some components in the Nineveh Plain, while political forces from the Shabak component that have an armed faction announced their refusal to allow the implementation of the expansion project towards eastern Mosul, under the pretext of fear of demographic change. LINK

Clare: Al-Sudani concludes his visit to Karbala.. This is what it included

8/15/2024Baghdad

Prime Minister Mohammed Shia Al-Sudani concluded his visit to the holy Karbala Governorate today, Thursday, which included the opening of several projects.

The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that "Al-Suwani returned to the capital, Baghdad, after concluding his visit to the holy Karbala Governorate, which included:

■ Follow up on work in the facilities and installations of Karbala International Airport.

■ Launching the implementation works for three power station projects:

● Combined cycle of Karbala gas station with a capacity of (132 megawatts).

●Karbala Solar Power Plant Investment Project with a capacity of (300 megawatts),

● Karbala Banks Secondary Transformation Station 400 kV, with a capacity of (1500 MVA), as part of a package of projects to resolve bottlenecks in the transmission of electrical energy.

■ Announcing the largest project to produce (10) thousand megawatts of electric power.

■ Inauguration of Karbala Industrial City, and launching of executive works for four industrial projects/first phase, in the city, which are:

● Industrial gases plant with a capacity of (1000 tons/day).

● White oil factory with a capacity of (1000 cubic meters/day).

●Vacuum distillation plant with a capacity of (2500 tons/day), and organic solvent plant with a capacity of (1000 cubic meters/day). LINK

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Clare: Al-Sudani announces readiness to launch the "largest" electricity production project in Iraq

8/15/2024

Prime Minister Mohammed Shia al-Sudani announced on Thursday that his government is ready to launch the "largest" electricity production in Iraq at a rate of 10,000 megawatts.

Al-Sudani said in a speech during the ceremony to launch the executive works of the projects of three power stations in Karbala Governorate, that this project is a strategic project in electrical energy, which will be implemented according to a new economic model and a new vision that will be announced to the private sector, after it has been studied by a team of consultants specializing in electricity.

He stressed that the stability of energy sources is an encouraging factor for investment and development, and pushes for the development of sources of income by activating all other economic sectors, in addition to the ongoing work to improve the transportation and distribution sector, to deliver electricity service in a sustainable manner to the citizen, without it being a burden on the state and its financial budget.

Al-Sudani also pointed out that the combined cycle projects and solar energy projects are part of the government's plans to reform the electricity system, indicating that the launch of the solar energy project in Karbala and Babylon will continue with the rest of the governorates, which is happening for the first time in Iraq.

He stressed the importance of supporting the private sector, which represents a support for the government in facing crises, emphasizing the special nature of Karbala Governorate, which is visited by millions of visitors throughout the year from inside and outside Iraq.

The three projects launched by Al-Sudani in Karbala are: the combined cycle of the Karbala gas station with a capacity of (132 megawatts), the Karbala investment solar energy station with a capacity of (300 megawatts), and the Karbala secondary transformer station, 400 KV, with a capacity of (1500 megawatts).

It is worth noting that the three station projects will achieve an increase in the production of electrical energy, as the combined cycle of the Karbala gas station contributes to adding (132) megawatts to the currently operating station, with a total design capacity of (250) megawatts, while the Karbala solar energy investment station project is one of several important contracts concluded by the government in the field of renewable energy projects with a number of specialized international companies, including signing a contract to implement a solar energy station with a private sector company with a capacity of (300) megawatts.

As for the Karbala Banks Secondary Station 400 KV, with a capacity of (1500) megawatts, it is being implemented within the second phase of the electrical energy transmission projects, under the contract with the German company Siemens, and is the first transformer station of its kind in Karbala, and will contribute to relieving bottlenecks in the network, thus raising the level of stability and meeting the needs of the various sectors in the Middle Euphrates region. LINK

TNT:

Tishwash: As the region continues to steal oil...the oil and gas law is in the parliament's drawers

The draft oil and gas law is one of the most controversial issues between the political blocs and the Kurdish national component.

The Kurds continue to steal Iraqi oil and sell it on the black market for half its market value, which is a huge waste of the country's financial resources.

Independent politician Adnan Abdullah confirmed on Thursday that oil smuggled from the Kurdistan region is sold for less than half its value.

Abdullah told Al-Maalouma, “The region smuggles about 300,000 barrels per day, and this is no secret and the government and all political forces know about it.”

He added, "The smuggled oil is sold for less than half its value, which is what drives some brokers in neighboring countries to deal with the smuggling file due to the large profits, noting that" mutual interests with some forces in Baghdad push for not opening this sensitive file."

He pointed out that "oil smuggling is illegal and represents a drain on the national wealth that everyone must preserve and its management must be federal."

It is noteworthy that oil smuggling operations from the Kurdistan Region have been ongoing for years by some of the ruling parties in the region.

This is one of the reasons for not passing the oil and gas law from the House of Representatives, due to the major political differences that will keep the law in the drawers of the House of Representatives.

He added, "There are laws that cannot see the light during this session due to the deep differences, most notably the oil and gas law that has not been decided for four previous parliamentary sessions."
He confirmed that the law will be postponed to the next session in the hope that it will find consensus on it. link

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Tishwash: State Department in response to US State Department spokesman: There are no US forces in Iraq except for military advisors

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

Frank26 Question: "Why is no one speaking of the WTO meeting with Iraq on Friday?" Because it's not that important. They were supposed to get everything done by the 15th for the WTO. What are they going to do Friday? They're just going to talk about it. It's not until the value of the Iraq dinar is released and the lower notes and lifting of the three zeros, that's when they'll join the WTO...Why do they want a sanctioned rate? ...They don't. They know exactly what they're doing.

Militia Man There are a lot of things that are rough and tumble out there. On a good note, everything we're seeing is still focused and still on track and I think we're going to be in good shape. If they launched this over a year ago, we're coming to a close. I firmly believe it, they're coming to a close and they're getting ready to do what they have to do...

BRICS Move Gold-Backed 'Unit' Plans Forward Ahead Of October Meeting In Kazan

Arcadia Economics: 8-14-2024

Various Russian officials have made comments alluding to a greater gold involvement in the monetary system ever since (and in some ways even before) they were kicked out of the SWIFT system in 2022.

Yet while there have been no formal announcements, signs of progress have been emerging. And 2 months ago Matt Riley joined me on the show to talk about 'the Unit,' which is a proposal for a payment settlement currency that would include a 40% gold backing.

Today Matt returns to the show and provides an update on how the plan is evolving ahead of the BRICS October meeting, and whether he expects an announcement at that meeting.

We also talk about whether a successful Unit would ultimately force the west to put some sort of collateral behind their own currencies, and whether he expects people to front-run the move if the plan continues to progress and eventually become more public.

While we don't yet know the ultimate outcome, evidence of the possibility of a potentially landscape-changing transition continues to emerge.

And to find out more about it, months before most of the world will ever have any idea, click to watch the video now!

https://www.youtube.com/watch?v=J23gSixFjnk

Parliamentary Oil Committee Reveals Details Of Oil Smuggling From The Region To Iranian Ports

Energy Economy News – Baghdad The Parliamentary Oil and Gas Committee revealed, on Thursday, the details of oil smuggling from the Kurdistan Region to Iranian ports, explaining that this operation caused a crisis in the transfer of crude oil between Iraqi refineries.

The deputy head of the committee, Adnan al-Jaberi, said in a press interview, "We have seen a document issued by the State Oil Marketing Organization (SOMO) regarding the smuggling of oil from the Kurdistan Region to Iranian ports," noting that "this document states that oil is smuggled from Erbil and Sulaymaniyah via tankers through the Bashmakh and Pirouz Khan crossings."

Al-Jabri added, "The document revealed that the price of transporting one ton of crude oil to Iran is $135," noting that "this issue caused an internal crisis in the land transport of oil, considering that most of the tankers are private and have turned towards loading these smuggled materials, and there has been a defect in the transport of official oil, because SOMO pays $33 per official ton, while the cost of transporting smuggled oil reaches $135 per ton, and thus most of the tankers have turned to transporting smuggled oil."

Al-Jaberi continued, "This crisis has caused the accumulation of crude oil in a number of refineries, which has affected the quantity of petroleum derivatives in these refineries," noting that "the Parliamentary Oil and Gas Committee is following up on this issue with importance, and we will host general managers in this regard."

121 views Added 2024/08/15 - https://economy-news.net/content.php?id=46337

As The Region Continues To Steal Oil...The Oil And Gas Law Is In The Parliament's Drawers

Economy As the region continues to steal oil...the oil and gas law is in the parliament's drawers[/size]

Information / Report.. The draft oil and gas law is one of the most controversial issues between the political blocs and the Kurdish national component.

Follow "Al-Maalouma" channel on Facebook.. News that does not need verification..

The Kurds continue to steal Iraqi oil and sell it on the black market for half its market value, which is a huge waste of the country's financial resources.

Independent politician Adnan Abdullah confirmed on Thursday that oil smuggled from the Kurdistan region is sold for less than half its value.

Abdullah told Al-Maalouma, "The region smuggles about 300,000 barrels per day, and this is no secret and the government and all political forces know about it."

He added, "The smuggled oil is sold for less than half its value, which is what drives some brokers in neighboring countries to deal with the smuggling file due to the large profits, noting that "mutual interests with some forces in Baghdad push for not opening this sensitive file."

He pointed out that "oil smuggling is illegal and represents a drain on the national wealth that everyone must preserve and its management must be federal."

It is noteworthy that oil smuggling operations from the Kurdistan Region have been ongoing for years by some of the ruling parties in the region.

Despite the government's moves to end the violations of the region's oil exports by passing the Oil and Gas Law, the obstacle of the Kurdish parties is what is pushing to suspend the law by objecting to the paragraphs and articles of the law that will end the region's violations in the operations of extracting and exporting oil through the Turkish port of Ceyhan.

The continuous objection and the placing of obstacles are due to preventing the approval of the law that may end the theft of contracts with foreign extraction companies in which the Barzani government is a major partner, in addition to ending the seizure of oil revenues and the positions they control as a result of exporting independently of the central government and the national SOMO company.

The Kurdish objection is centered on the paragraph of the control of the National Marketing Company (SOMO) over the operations of extracting, exporting and selling oil and gas.

Legal experts confirmed that all the articles that the Kurdish parties object to are not legal and constitutional, but rather in order to continue seizing the country's wealth.

The sources indicate that the Kurdish parties exploit the weakness of the governments in order to obtain high percentages of money and oil and gas revenues, and the approval of the law will end all these operations.

This is one of the reasons for not passing the oil and gas law from the House of Representatives, due to the major political differences that will keep the law in the drawers of the House of Representatives.

Member of the committee, MP Mohammed Anouz, ruled out today, Thursday, the ability of the political blocs to pass the oil and gas law and some other controversial laws.

Anouz told the / Al-Maalouma / agency, "The legal committee has a number of controversial laws that cannot be passed due to the political differences over them."

He added, "There are laws that cannot see the light during this session due to the deep differences, most notably the oil and gas law that has not been decided for four previous parliamentary sessions."

He confirmed that the law will be postponed to the next session in the hope that it will find consensus on it. LINK

Politician: Oil Smuggled From Kurdistan Region Is Sold For Less Than Half Its Value

Economy Information/Baghdad Independent politician Adnan Abdullah confirmed on Thursday that oil smuggled from the Kurdistan Region is sold for less than half its value.

Abdullah told Al-Maalouma, "The region smuggles about 300 thousand barrels per day, and this is no secret, and the government and all political forces know about it."

He added that "smuggled oil is sold for less than half its value, and this is what prompts some brokers in neighboring countries to deal with the smuggling file due to the large profits, noting that "mutual interests with some forces in Baghdad prompt not to open this sensitive file."

He pointed out that "oil smuggling is illegal and represents a drain on the national wealth, which must be preserved by everyone and managed by the federal government."

It is noteworthy that oil smuggling operations from the Kurdistan region have been ongoing for years by some of the ruling parties in the region. LINK

Parliamentary Legal Committee Rules Out Passing Oil And Gas Law

Economy Information / Baghdad.. Today, Thursday, the committee member, MP Mohammed Anouz, ruled out the ability of the political blocs to pass the oil and gas law and some other controversial laws.

Anouz told Al-Maalouma Agency, "The Legal Committee has a number of controversial laws that cannot be passed due to political differences over them."

He added, "There are laws that cannot see the light of day during this session due to deep differences, most notably the oil and gas law, which has not been decided for four previous parliamentary sessions."

He stressed that the law will be postponed to the next session, hoping that it will be agreed upon LINK

Parliamentary Finance Committee Discusses With Us Embassy The Financial And Banking System And The Lack Of Dollars In The Market

Local | 06:19 - 08/14/2024 Parliamentary Finance Committee discusses with US Embassy the financial and banking system and the l Default

Mawazine News – Baghdad The Parliamentary Finance Committee confirmed, on Tuesday, discussing the financial and banking system and the lack of the dollar in the Iraqi market with a delegation from the US Embassy in Baghdad.

A statement by the Parliament's media department received by Mawazine News stated that "the head of the Parliamentary Finance Committee, Atwan Al-Atwani, received at the committee headquarters, in the presence of Representative Khalil Al-Dawski, today, Wednesday, a delegation from the US Embassy in Baghdad, Minister Counselor for Economic and Trade Affairs Julie Jules, Deputy Counselor for Economic and Trade Affairs Angel Fintling, Macroeconomic Officer, Economic and Financial Section Michael Pinnell, and Economic Assistant/Economic Section, to discuss the financial and banking system in the country, Ammar Al-Ammar."

The statement continued, "The meeting discussed the financial and economic situation in the country and the repercussions of the parallel market issue and its negative impact on the government economically, in addition to the lack of the dollar currency in the market, and the sanctions imposed on some banks, as well as the issue of the electronic platform for exporting the currency."

The head of the committee stressed "the importance of high coordination between the two sides in order to solve the pending financial problems, in addition to the importance of transparent dealing to benefit from the capabilities, and not resorting to dealing in another currency," noting "the need to create an atmosphere of understanding and invest in building bilateral relations on this basis."

Al-Atwani stressed "the committee's keenness to commit to combating financial corruption and confronting money laundering, as they are the basis for building societies, in addition to coordination in order to make correct decisions in this regard."

For her part, the Minister Advisor for Economic and Trade Affairs said that "there is a real opportunity for cooperation and reform of the economic and financial system between the two sides," stressing "working together to find appropriate solutions to all problems for the stability of Iraq as a basic ally of the United States."

The statement noted "providing clarification on the three-year general budget and plans for banking regulation and reform of the spending process, and how to finance projects, in addition to the importance of supporting the private sector and involving it with the public sector, which confirms the importance of investing the revenues achieved and the possibility of providing the service."

According to the statement, Al-Atwani pointed out the "ambition to legislate a law on partnership between the public and private sectors and involve the private sector in the market, in addition to working to amend the tax law and shift from the paper system to the electronic system."

https://www.mawazin.net/Details.aspx?jimare=253273

4 Shrewd Ways to Protect Your Wealth

By Marina Benitez August 1, 2024 GoBankingRates

Keep your money where it belongs — secure and working for you.

Wealth isn’t about how much money you make, but how much you keep. Whether you’re just starting out or have already built a comfortable nest egg, protecting your wealth can feel like a never-ending game of whack-a-mole. From market fluctuations to unexpected expenses, there’s always something trying to chip away at your hard-earned money.

But don’t worry; we’ve got some clever and easy-to-implement strategies to keep your money right where it belongs — secure and working for you.

1. Protect Your Portfolio With Precious Metals

If the past few years have shown us anything, it’s that disruptions to the market can come out of nowhere. Between the pandemic, supply-chain issues and bear markets, a lot of people’s retirement savings felt the impact.

That’s why it can be a smart idea to look for ways to protect your retirement savings from the unpredictable. For a lot of people, investing in precious metals is a way to diversify and protect their investments.

One way to do this is with a precious metals IRA through a company likeAmerican Hartford Gold. Precious metals often outperform other investments in a volatile market, and their value tends to rise with inflation, making them an effective hedge during uncertain economic times.

Opening a gold or silver IRA is easy, and you can roll over funds from existing retirement accounts. Or you can buy gold and silver directly from American Hartford Gold’s collection.

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Why Are These US STATES Buying GOLD? Just Like Central Banks

VRIC Media: 8-15-2024

We are set up for a historic decade in the commodity sector, this show will be the central source of information and study for my portfolio strategy.

It will be a place where myself and other investors from the sector will stress test our ideas and discuss where we are allocating capital.

This week, I am joined by Jp Cortez, Executive Director of the Sound Money Defense League, who is here to make his case for the return of sound money.

Jp dives deep into the resurgence of gold and silver as viable forms of money, the legislative victories across U.S. states removing barriers to using precious metals, and the growing trend of states and individuals adopting a personal gold standard.

We also explore the strategic importance of gold in protecting wealth, the challenges of counterparty risk, and the broader implications of these trends for the future of money in America.

0:00 Intro

1:18 The Case for Gold as Money

5:19 - Advantages of Gold & Silver Ownership

13:48 Counterparty Risk & Gold's Role

18:42 States Adopting Gold in Treasury

23:57 Global & National Trends in Gold Acquisition

39:22 - Sound Money as a Constitutional Right

44:50 - Sound Money Scholarship

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

In recent years, there’s been a growing sense that the current global financial system, which relies heavily on paper money (or fiat currencies), is clearly on its path to a logical conclusion in the form of a worldwide systemic crash.

This means that countries will move away from relying solely on traditional fiat currencies like the U.S. dollar and instead turn to something real, like gold, to back their currencies.

To prepare for this possible reset, central banks in various countries have been buying large amounts of gold. They see gold as a safe and reliable asset that can protect their economies if the value of paper fiat currency falls.

This article will explore why central banks are making these moves and what it means for the future of our financial system.

In This Article:

1. Record Gold Purchases by Central Banks in 2024 Signal Preparation for a Global Currency Reset

2. Key Factors Driving Central Bank Gold Accumulation

3. How Gold Will Anchor a Global Currency Reset

4. The Global Economic Impact of Central Banks’ Gold Strategy

As concerns about the stability of the global fiat currency system grow, central banks around the world are aggressively purchasing gold.

By mid-2024, these purchases had set a new record, indicating preparations for an impending global currency reset.

Central banks added a net 483 tons of gold in the first six months of the year, reflecting a strategic move towards gold as a hedge against the risks of the current financial system.

This surge represents a 5 percent increase from the previous record of 460 tons set in the first half of 2023. Despite a slight slowdown in the second quarter, central banks bought 183 tons of gold during this period, a figure that remains historically high.

This activity is largely driven by concerns over a potential global currency reset, as trust in the fiat currency system continues to erode.

Countries like China, India, and Turkey have significantly increased their gold reserves, reflecting their strategic intent to diversify away from fiat currencies, particularly the U.S. dollar. China, which paused its official gold purchases in May and June, is speculated to be acquiring gold off the books, contributing to the demand.

This move aligns with broader concerns about the sustainability of the fiat currency system and the potential for a financial reset anchored by gold.

With the fiat currency system showing signs of strain—exacerbated by high levels of debt and inflation in major economies—gold is being viewed as a stable alternative. Poland, for instance, has made significant strides to increase the share of gold in its total reserves to 20 percent.

This strategy reflects a broader trend where central banks are preparing for a possible transition to a gold-backed system, which could offer more stability in a rapidly changing economic landscape.

The World Gold Council’s recent survey reveals that nearly 30 percent of central banks plan to add more gold to their reserves over the next 12 months. This widespread interest in gold underscores its value in a future where fiat currencies may no longer hold any level of trust.

As central banks continue to stockpile gold, the global economy will witness a significant shift towards a system where gold plays a central role, altering the dynamics of international trade, investment, and monetary policy.

As fears of a global currency reset mount, central banks are turning to gold to protect their economies. This trend suggests that gold will soon become the cornerstone of a new financial system, reshaping the global economic order in profound ways.

Supporting Article:

• https://www.linkedin.com/pulse/central-banks-appetite-gold-hasnt-been-satisfied-money-metals-de9je/

• https://www.moneymetals.com/news/2024/08/05/central-bank-gold-buying-through-first-half-of-2024-sets-record-003358

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

MarkZ Update- Some highlights by PDK-Not verbatim

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

Member: Welcome to the never ending Groundhog day.

Member: Well, even Bill Murry eventually gets a happy ending…..we will too

Member: Wish we knew for sure something was really happening. This “behind the scenes stuff” sucks.

Member: Today is the anniversary of when Nixon took the US off the Gold standard. 8-15-1971

Member: Maybe it’s a good day for the US to go back on the gold standard???

Member: We may be waiting for after the elections for that …imo

Member: Any good RV news today Mark?

MZ: Well the hopium everywhere is off the charts

Member: Hopium up just like the DOW 362

Member: I don’t listen to any hopium anymore! Hope deferred makes the heart sick! No wonder so many are in a bad emotional way!

MZ: Someone shared this with me…a great breakdown from your own Government ” The Pigford Cases- USDA Settlement of discrimination suits by black farmers” This is a summary of the this settlement case …I will include the link in todays links ……This is where we are seeing movement.

https://nationalaglawcenter.org/wp-content/uploads/assets/crs/RS20430.pdf

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

MZ: I was told from day one that these settlements are part of the farm claims process…and on the heels of those will be CMKX. That we are seeing movement on the farm claims makes me feel warm and fuzzy. This is probably the best news in the last couple of weeks.

Member: How many of your farm claims contacts have disappeared?

MZ: Three of my 14 contacts have disappeared. I know that some have received substantial funds that magically and mysteriously appeared in their bank accounts with no explanation…no restrictions.

Member: I cannot wait until we all get up and find money in our banks. It can happen

MZ: The bond side remains quiet…I am still looking for someone I know personally to confirm they have money. There are lots of folks saying they know people secondhand that have funds…..but none I know personally. But I won’t get excited until someone I know in real life tells me this.

MZ: The group side is also quiet….lots of circletel….lots of rumors….nothing I would call ‘reputable”

Member: BANK story. My 84 yo mom went to the bank to get checks printed & they would only give her 10. She said hopefully this will last until the RV. The lady just nodded and smiled

Member: Teller at Wells Fargo on Monday, when I asked her if she was excited about her QFS Account said "Yes! We have had a lot of training on those."

Member: Big Rumor…..All U.S. banks have been purchased by the New U.S. Treasury (which has relocated from Washington D.C. to the Sparks Indian Colony near Reno, Nevada)why Indian land? Sovereign non Corporation soil

Member: In Iraq: Cant help but think CBI training their employees on FX is highly relevant. Who trains their personnel on something they wouldnt want implemented immediately? You would have to train them twice.

Member: Any word on the HCL in Iraq?

MZ: It is still back in the Parliamentary committee to rewrite a few of the paragraphs…then it will go to parliament….which could be any day….. When it is approved you won’t have to ask…I will be screaming it out…..

MZ: “ A retail Apocalypse is gaining momentum all over America. Is your favorite chain closing stores?” I have been talking about this for days…and “US Living Standards in grave danger” Anyone who says differently is lying to you

Member: I absolutely believe that the RV is ready to go, they are just taking it to whatever point they plan on flipping the switch

Member: You have no control over the hand that life deals you, but how you play that hand is entirely up to you.

Member: Wishing all MarkZ's Mods a fantastic day!!!! Thank you for all you do.

Member: Have a blessed day everyone.

Be sure to listen to replay for all of MarkZ’s guests…

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

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

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

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.

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THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

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While an informed source told Al-Sumaria News, “One of the banks that is operatingand is not being punishedwithdraws the dollarvia electronic devicesat the official price in Dubai, and it is transferred to Iraqto besoldin themarketat theparallel price.” https://www.alsumaria.tv/news/economy/497061/بعمليات-فساد-وتحايل-خفايا-تهريب-الدولار-وسحبه-من-دبي-عبر-البطاقات-الال

An Electronic Platform For Managing Customer Complaints Of Financial Institutions
Economical 08/15/2024 Baghdad: Al-Sabah Yesterday, Wednesday, theCentral Bank of Iraq(Financial Inclusion Department)announcedthe establishment ofanelectronic platformtomanage complaintsfrom customers of financial institutions.

Thebanksaid in a statement that it “seeks toautomate the work of the financial sector,reduce reputational risks, andenhance trustbetween all financial institutions and the public.

In this regard, it has created an electronic complaints management platform whose work is to automate financial institutions’ receipt of public complaints via the complaint form link, and manage their treatment under the supervision of the bank.” “Central.”

He explained that “theresponse time for a complaint filed against financial institutions on the platform takes between one and five working days, determined by theCentral Bank of Iraqthrough the system for each complaint based on its nature and the importance of addressing it,

and in the event that the financial institutions do not respond to the complaint addressed to them through the system in At the specified time, afineof(100,000 Iraqi dinars)will be imposed for each complaint for every single day of delay.”

He explained, “This came in order to develop the performance of institutional work and simplify government procedures by shifting to digital transactions, and for regulatory objectives that are consistent with the Central Bank of Iraq Law No. (56) of (2004) as the sectoral body supervising the work of all licensed financial institutions, and in view of the continuous development that

“This is being witnessed by the electronic financial industry, and because of its great importance in achieving economic growth, financial stability, and enhancing levels of financial inclusion.”

https://alsabaah.iq/101133-.html

For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/