News — Dinar Recaps Blog Page — Dinar Recaps (2024)

Iraq Economic News and Points To Ponder Tuesday Afternoon 6-25-24

What Do Investments In Iraq Mean Politically And Economically?

June 24, 2024 Baghdad/Iraq Observer Thehigh level of Arab and international investment optimism constitutes a new support factor for the economic renaissance in Iraq, while observers praised the government measures taken to support investment and economic reform together, which is witnessing significant growth after overcoming many obstacles.

Arab and foreign demand for investment in Iraq has shown an acceleration in growth since 2024, with significant Iraqi support being provided in light of political stability in the country.

They stated:

“Any trend towards locally made materials, such as construction industries such as rebar, cement, sand, wood, etc., which led to their local rise, and so on, are requirements that go towards keeping exchange rates within their rates and not decreasing them.”

Today, selling prices in money exchange shops in local markets in Baghdad were 148,000 dinars for 100 dollars, while purchasing prices reached 146,000 dinars for 100 dollars. https://observeriraq.net/ماذا-تعني-الاستثمارات-في-العراق-سياسي/

Laundering Corruption Money Raises Baghdad Real Estate... Questions About The Source Of Purchasing Power

Baghdad today – Baghdad Economic affairs researcher Mustafa Akram Hantoush confirmed today, Sunday (June 23, 2024), that

the rise in real estate prices in some areas of the capital, Baghdad, is due to money laundering, considering that the Baghdad Municipality’s approval of the area to be 200 meters or less is considered a violation, and also caused an increase in prices. Real estate. Hantoush told “Baghdad Today” that

“thereal estate file in Iraq has become a very complex file and contains clear errors, and

there are also government decisions that have contributed to the rise in real estate prices, including the Baghdad Municipality approving an area of ​​200 square meters for the house as a basic design and there is a separate bond, especially

This square has become unavailable in most areas of Baghdad, except in some upscale areas.” He stated,

"TheCentral Bank of Iraq recently took a correct decision, that any house valued at more than 250 million before the tax must deposit the amounts in a bank until it is known where the source of that money comes from.

This is one of the ways to combat and limit money laundering through purchasing real estate.". He added,

"In areas that are witnessing a crazy rise in real estate prices, with the square meter reaching approximately 12 million or more, real estate there must be monitored, as

this rise may be caused by money laundering, especially since there is no such purchasing power in areas that are originally residential and not commercial." The researcher in the economic affairs continued,

“Working to register one or two houses in the name of one person is considered a reactionary law.

There is no harm in anyone owning dozens of houses if the source of his money is known.

We do not expect that such decisions, if there is a trend towards them, will not limit the rise in Prices at all, but may even have negative consequences.”

https://baghdadtoday.news/252066-غسيل-أموال-الفساد-يرفع-عقارات-بغداد.-تساؤلات-عن-مصدر-القوة-الشرائية.html

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

Provoking Thoughts and Points to Ponder on Wealth

It is wealth to be content.-Lao-Tzu

Who is rich? He that rejoices in his portion.-Benjamin Franklin

If you're happy, you're wealthy! Happiness doesn't need a bank account.-Sr. Mary Christelle Macaluso

Wealth ... is a relative thing since he that has little and wants less is richer than he that has much but wants more.-Charles Caleb Colton

Sometimes when you have everything, you can't really tell what matters.-Christina Onassis

The only question with wealth is what you do with it.-John D. Rockefeller

The rich man is not one who is in possession of much, but one who gives much. -Saint John Chrysostom

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

http://famousquotesandauthors.com/quotes_by_topic.html

30 Countries ditch US dollar: What Next?

Fastepo: 6-25-2024

Nations and regional alliances are increasingly moving away from the US dollar for their trade transactions, a process termed de-dollarization.

This trend seeks to decrease dependence on a single currency, thereby enhancing economic stability by employing a variety of local currencies.

By prioritizing their own currencies, countries aim to mitigate geopolitical risks and bolster their domestic economies.

This ongoing shift is transforming global trade and financial systems, potentially reducing the global dominance of the US dollar.

In this video, we examine the recent trend among various nations to decrease their dependency on the US dollar for international transactions.

We investigate the reasons driving these decisions and offer insights into their economic strategies.

Additionally, we focus on de-dollarization efforts within the BRICS+ bloc, highlighting significant steps these countries have taken to diversify the currencies used in global trade.

https://www.youtube.com/watch?v=C_cl2D8qg5c

LIVE! The U.S. e-CON-omic CON-JOB Is Worsening FASTER! EXPECT A HIGHER STOCK MARKET.

Greg Mannarino: 6-25-2024

https://www.youtube.com/watch?v=T_kPH_iMZ64

ALERT: FDIC Slams Big Banks for MASSIVE Risks

Taylor Kenny: 6-25-2024

The FDIC has raised alarms over major banks' emergency plans, concerns mount over the scale of derivative exposure in the financial sector, and questions emerge about the adequacy of deposit insurance amid banking uncertainties.

With whispers of a potential global financial shake-up, what do the experts know that we don't?

https://www.youtube.com/watch?v=1lP9qfWgRws

TNT:

Tishwash: Parliamentary recommendation for Finance and Planning to launch instructions for implementing budget schedules

CandyKisses: The Central Bank of Iraq revealed the mechanism of imposing fines on private banks

According to a document issued by the bank on the third of this month, "we would like to inform you that the imposition of fines on banks and non-bank financial institutions is done through a competent committee in this bank based on the Central Bank Law No. (56) of (2004) and the Banking Law No. (94) of (2004) and the instructions and controls that regulate banking operations."

He added that due to the violation of these laws, instructions and controls by the bank or non-banking financial institution, the purpose of imposing fines on banks and non-bank financial institutions is to prevent them from committing violations of the laws mentioned above and the instructions issued under them to protect them and ensure their safety and the safety of the financial sector in general.

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

Tishwash: Finally, “Carrefour” will open in Baghdad.. The international chain has ended its hesitation

It may not be a passing commercial event in Baghdad.. The international shopping chain “Carrefour” - which has been reluctant for years to enter the Iraqi market - has made up its mind and is actually preparing to open two branches in the capital.

The first will be in the Jadriya area within the “Jadriya Mall,” and the second within the Bismayah Mall complex. According to information obtained bythe 964 networkfrom various sources, the opening of the chain of markets in Al-Harithiya Mall has been withdrawn, because “Carrefour” needs a very large space that “Al-Harithiya” did not provide.

He already got what he wanted, as he acquired the largest part of the area of ​​Al-Jadriya Mall, which will also include a group of branches of international agencies, while the chain’s branch in Bismaya will also obtain a large area within the mall of the residential complex, and Al-Jadriya Mall was scheduled to open.

It was strange that the local authorities in Baghdad agreed to open “Carrefour” in Jadriya...the most crowded area of ​​Baghdad. Usually, the authorities oblige the “Carrefour” chain to open its branches in areas far from city centers, to contribute to the revitalization of remote areas and eliminate traffic congestion, especially since the crowding “Carrefour” is a certainty due to the easy and unique shopping experience it provides, the competitive offers and prices, the way products are presented, and the quality standards supervised by teams of international experts.

Carrefour is a French international supermarket chain with five branches in the Kurdistan region of Iraq (5 branches in Erbil, a branch in Sulaymaniyah, and another in Dohuk), and provides a wide range of home, food and other shopping options to the consumer.

Carrefour was scheduled to open a branch in Baghdad Mall in the Al-Harithiya area in the center of the capital, but the lack of suitable spaces prevented this, which prompted those responsible for the chain’s affairs in Iraq to search for alternative locations, indicating the possibility that the chain may have a third branch and perhaps A fourth in Baghdad soon. ink

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

Tishwash: Canadian oil replaces Iraqi crude on the American West Coast

Refineries on the West Coast of the United States intend to replace their imports of heavy Iraqi oil with cheaper crude from Canada, at a time when the newly expanded “Trans Mountain” line is re-arranging trade flows across the Pacific Ocean, according to what Bloomberg reported.

California and Washington are scheduled to import about 150,000 barrels per day of Canadian crude via tankers in June, representing a seven-fold increase in average volumes, according to preliminary data from Vortexa. At the same time, their imports of Iraqi “Basra Heavy” crude are expected to decrease to 3,587 barrels per day, from 76,000 barrels last May.

The Trans Mountain expansion, which began in May, transports 590,000 barrels per day of crude from the Canadian oil sands to Vancouver for export. This is likely to be an advantage for refiners on the US West Coast, which would otherwise pay several dollars more per barrel to buy Iraqi crude.

As Canadian imports to the US West Coast rise, shipments of Brazilian medium-sulfur TUPI oil, as well as Basra Heavy crude, decline.

Alberta's heavy West Canadian Standard crude is trading about $13 cheaper than U.S. West Texas Intermediate crude, or about $67 a barrel, according to Bloomberg's general index pricing. Basra Heavy crude is trading about $5.55 cheaper than benchmark Brent crude, or more than $80 per barrel. link

Iraq News Highlights Tuesday AM 6-25-24

An Expert Expects Economic Growth In Iraq To Decline During 2024

Economy |Baghdad today - BaghdadToday, Tuesday (June 25, 2024), the economic expert, Nabil Al-Marsoumi, revealed the rate of economic growth in Iraq during 2024.

Al-Marsoumi said in a post on the Facebook platform, followed by “Baghdad Today,” that “the World Bank confirmed in its report that Iraq’s economic growth reached 7.6% in 2022 and 7.6% in 2022, while it reached 2.9% in 2023,” expecting “Iraq’s economic growth will decrease in the year 2024 to reach - 0.3%, and it will achieve growth in the year 2025 reaching 3.8% and 5.3% in the year 2026.”

He added, "Economic growth in Iraq is not self-growth or planned, but rather a transitory growth linked to external variables, the most important of which is the rise in global demand for oil and the rise in its prices, and therefore it cannot be relied upon to create positive effects among the various economic sectors," pointing out that "it should have been The World Bank should pay attention to the growth rate of non-oil gross product and not to general economic growth, which is greatly affected by oil.”

Al-Marsoumi continued, “The significant economic growth achieved in Iraq in 2022 resulted from the increase in oil production quantities and the rise in oil prices, while the negative economic growth in 2023 and 2024 is linked to the decline in oil production quantities due to OPEC Plus restrictions and the decline in oil prices, as well as the expected positive economic growth.” “The years 2025 and 2026 are linked to a reduction in OPEC restrictions and the possibility of a rise in global oil prices.” LINK

Parliamentary Recommendation For Finance And Planning To Launch Instructions For Implementing Budget Schedules

Political | 06/25/2024 Baghdad - Mawazine NewsToday, Tuesday, the Parliamentary Finance Committee recommended the Ministries of Finance and Planning to release instructions for implementing the 2024 budget schedules, while indicating that all appeals are normal and did not rise to the rejection of some paragraphs.

Committee member Nazem Al-Shibli said, “The budget is effective after its publication in Al-Waqa’i newspaper, but it needs instructions issued by the Ministries of Finance and Planning in order for it to be clearly implemented in the ministries, agencies, and governorates,” explaining that “the budget is not devoid of complaints and appeals every year, but the court It is the one who decides the authority to implement or legislate.”

Al-Shibli added, “The court will hear all appeals,” pointing out that “the budget is subject to appeal if any party objects to a part of it,” noting that “all appeals are normal and do not rise to the rejection of some paragraphs.” https://www.mawazin.net/Details.aspx?jimare=250213

The Dollar Continues To Rise.. Learn About The Exchange Rates In Iraqi Markets[/Size]

Economy 2024-06-25 Alsumaria News – Economy Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Tuesday, June 25, 2024.

Dollar prices rose slightly with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 147,900 Iraqi dinars for every 100 dollars, while selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 148,750 dinars, while the purchase price reached 146,750 dinars for every 100 dollars.

On February 7, 2022, the Council of Ministers announced its approval of amending the dollar exchange rate to 1,320 dinars per dollar.

For about a year, and specifically since the Central Bank began operating the electronic platform and the international financial transfer system ““SWIFT,” the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel markets. LINK

Canadian Oil Replaces Iraqi Crude On The American West Coast

Money and business Economy News - follow up Refiners on the West Coast of the United States intend to replace their imports of Iraqi heavy oil with cheaper crude from Canada, at a time when the newly expanded “Trans Mountain” line rearranges trade flows across the Pacific Ocean.

California and Washington are scheduled to import about 150,000 barrels per day of Canadian crude via tankers in June, representing a seven-fold increase in average volumes, according to preliminary data from Vortexa. At the same time, their imports of Iraqi “Basra Heavy” crude are expected to decrease to 3,587 barrels per day, from 76,000 barrels last May.

The Trans Mountain expansion, which began in May, transports 590,000 barrels per day of crude from the Canadian oil sands to Vancouver for export. This is likely to be an advantage for refiners on the US West Coast, which would otherwise pay several dollars more per barrel to buy Iraqi crude.

Trade flows also suggest that the United States will for now remain a dominant buyer of Canadian oil, even as the pipeline gives producers access to coveted Asian markets.

European competition for Iraqi Basra crude in light of the shortage of supplies

While the Trans Mountain line is still not operating at full capacity, the company expects 22 tankers to ship crude oil from Vancouver this month. More than 81 thousand barrels per day are heading to China. Another 50,000 barrels per day are headed to India, the first movement of its kind off the Canadian Pacific coast.

As Canadian imports to the US West Coast rise, shipments of Brazilian medium-sulphur, Tupi, as well as Basra Heavy crude oil are declining.

Alberta heavy West Canadian Standard crude is trading about $13 cheaper than U.S. West Texas Intermediate crude, or about $67 a barrel, according to Bloomberg's general index pricing. Basra Heavy crude is trading about $5.55 cheaper than benchmark Brent crude, or more than $80 per barrel. Views 69 06/25/2024 https://economy-news.net/content.php?id=44588

Basra Council: We Are Serious About Activating The Law On Basra, The Economic Capital Of Iraq

Monday 24, June 2024 | Economical Number of readings: 515

Basra / NINA / The Basra Governorate Council confirmed its intention "to activate the law on Basra, the economic capital of Iraq, pointing to discussing the issue with the Prime Minister in order to activate this law."

The head of the Council’s Finance and Administrative Committee, Shukr Al-Amiri, said, “This is an attractive factor for foreign investment companies, given that Basra will be a corridor for international trade,” indicating that all of this encourages the economy, develops trade, and also provides job opportunities for many unemployed youth. .

Al-Amiri explained that the seventh economic conference in Basra Governorate comes in order to focus on economic activity in the governorate. https://ninanews.com/Website/News/Details?key=1133954

Provoking Thoughts and Points to Ponder on Wealth

I have enough money to get by. I'm not independently wealthy, just independently lazy, I suppose. -Montgomery Clift

I have no complex about wealth. I have worked hard for my money, producing things people need. I believe that the able industrial leader who creates wealth and employment is more worthy of historical notice than politicians or soldiers.-Paul Getty

I was born into it and there was nothing I could do about it. It was there, like air or food, or any other element. The only question with wealth is what you do with it.-John D. Rockefeller

I wish to become rich, so that I can instruct the people and glorify honest poverty a little, like those kind-hearted, fat, benevolent people do.-Mark Twain

In big houses in which things are done properly, there is always the religious element. The diurnal cycle is observed with more feeling when there are servants to do the work.-Elizabeth Bowen

True abundance is not about gathering more things, it's about touching the place in us that is connected to the divine source of abundance, so that we know what we need in the moment will be provided.-Mary Manin Morrissey

It's time we put thoughts of lack behind us. It's time for us to discover the secrets of the stars, to sail to an uncharted land, to open up a new heaven where our spirits can soar.-Sarah Ban Breathnach

It is good to have things that money can buy, but it is also good to check up once in awhile and be sure we have the things money can't buy.-George Horace Lorimer

Ordinary riches can be stolen, real riches cannot. In your soul are infinitely precious things that cannot be taken from you.-Oscar Wilde

'Let us not get so busy or live so fast that we can't listen to the music of the meadow or the symphony that glorifies the forest. Some things in the world are far more important than wealth; one of them is the ability to enjoy simple things.-Dale Carnegie

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

http://famousquotesandauthors.com/quotes_by_topic.html

Iraq Dinar - Iraq to Rejoin WTO - Cetral Bank Pressing Banks & Money Exhangers - AI Emperative Use

MilitiaMan and Crew: 6-24-2024

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=xzFRnPNg-6Y

Iraq Economic News and Points To Ponder Monday Afternoon 6-24-24

Iraq Transfers $254 Million Abroad Within One Day

Economy | 06/24/2024 Baghdad - Mawazine News Foreign remittance sales at the Central Bank of Iraq auction, today, Monday, increased by 92% over cash sales, reaching more than 254 million dollars.

Today, during its auction for buying and selling the US dollar, the Central Bank sold 274 million, 246 thousand and 415 dollars, covering it at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,305 dinars per dollar in cash. .

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 254 million 66 thousand and 415 dollars, an increase of 92% over cash sales amounting to 20 million 180 thousand dollars.

The number of banks that purchased cash dollars reached 3 banks, while the number of banks that responded to requests to enhance balances abroad reached 16 banks, and the total number of exchange and brokerage companies participating in the auction was 40 companies.

https://www.mawazin.net/Details.aspx?jimare=250168

The Central Bank Publishes The Mechanism For Imposing Fines On Private Banks

Economy | 06/24/2024 Baghdad - Mawazine News The Central Bank of Iraq revealed the mechanism for imposing fines on private banks and money changers.

According to a document issued by the bank on the third of this month, “We would like to inform you that imposing fines on banks and non-banking financial institutions is carried out through a specialized committee in this bank whose work is based on Central Bank Law No. (56) of (2004) and Banking Law No. (94) of (2004) and the instructions and controls that regulate banking operations.”

He added, “In view of the bank or non-banking financial institution’s violation of these laws, instructions and controls, noting that the purpose of imposing fines on banks and non-banking financial institutions is to prevent them from committing violations of the laws mentioned above and the instructions issued pursuant to them to protect them and ensure their safety and the safety of the financial sector in general.” . https://www.mawazin.net/Details.aspx?jimare=250153

The President Of The Republic Calls For Amending Laws Related To Investment

Political | 02:19 - 06/24/2024 Baghdad - Mawazine News On Monday, President Abdel Latif Gamal Rachid called for amending laws related to investment.

A statement from the Presidency of the Republic stated, “The President of the Republic, Abdul Latif Jamal Rashid, received today at Al-Salam Palace in Baghdad, the Chairman of the National Investment Authority, Haider Muhammad Makkiya,” indicating that “during the meeting, the National Authority’s work plans and its investment policy were reviewed.”

The President of the Republic pointed out "the necessity of overcoming obstacles facing investors, as well as supporting Iraqi businessmen and involving them in the investment process."

He explained that "activating investment requires making amendments to some of the applicable laws," stressing his support for "everything that would facilitate and revitalize this vital sector in a way that strengthens the national economy and provides job opportunities."

He stressed "developing communication mechanisms, exchanging experiences and information, and enhancing the process of trade partnerships between Iraq and countries with expertise in this field."

For his part, Makiya affirmed the Authority's "keenness to develop the work," reviewing "the investment plans and projects currently in the works, in addition to the future plans drawn up to develop all cities in Iraq and serve their residents." https://www.mawazin.net/Details.aspx?jimare=250163

Iraq.. Oil Will Continue To Rise Until 2025

Economy | 06/24/2024 Baghdad - Mawazine News The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, today, Monday, identified the most important economic gains achieved due to the rise in oil prices, pointing out that global energy market sources indicate that the current rise in oil prices will continue until the end of the year 2025.

Saleh said, “There are There is a clear link between the rise in revenues from Iraqi sourced oil due to the rise in energy prices in global markets on the one hand, and the sustainability of financing investment projects whose allocations are estimated in Federal General Budget Law No. 13 of 2023 (the tripartite budget), which exceeds 55 trillion dinars annually.”

He explained, “The rise in oil prices above their estimated rates leads to reducing the hypothetical deficit gap in the annual general budget, which is estimated at approximately 64 trillion dinars, and provides sustainability of spending on development projects,” stressing that “the hypothetical deficit is no longer a reason for faltering or delaying reconstruction projects and expenditures.” Related investment.

Saleh added, "The government program has prioritized, in its philosophy and general directions, the policy of diversifying sources of income in the national economy."

He stated, “For the first time, sovereign guarantees are granted to market activities and the private sector as a partner in development, with priority to major economic diversification activities, by providing appropriate financing to the private sector from global financial sources in order to finance the transfer of modern technology, especially the manufacturing and petrochemical industries, as well as industries related to the provision of high-quality products.” “A link to reconstruction, to ensure stable and high growth rates and provide the requirements for sustainable development and operation.”

He pointed out, “Global energy market sources indicate that the current oil prices will continue to rise until the end of the year 2025, with an average price of one barrel of crude oil at no less than $82, which is an average that exceeds the conservative price mentioned in the general budget law above, which was estimated at about $70 per barrel.” https://www.mawazin.net/Details.aspx?jimare=250173

Iraq Approves The Lending Strategy

06/24/2024 Baghdad - Mawazine News , today, Monday, the Ministerial Council for the Economy approved the national lending strategy, while deciding to hold a special session of the Council, in the Kurdistan region, to resolve all outstanding economic problems.

This came during a meeting held under the chairmanship of Foreign Minister Fouad Hussein, the 18th session of the Ministerial Council for the Economy, in the presence of the Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Trade, Agriculture, Industry, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank of Iraq, and the Prime Minister’s advisors for economic and legal affairs. Chairman of the Securities Commission, and Undersecretary of the Ministry of Oil.

According to a statement received by Mawazine News Agency, the Council discussed the items on its agenda and took the necessary decisions regarding them, and approved the Ministry of Transport’s request to refer a project to extend a railway between the city of Basra and the Shalamcheh port, as far as financial powers are concerned.

The Council approved the national lending strategy after the Governor of the Central Bank presented a brief on the strategy and what the bank implemented during previous lending initiatives. It also decided to hold a special session in order to discuss all opinions, ideas and proposals related to maximizing the state’s non-oil revenues.

The Council agreed, according to the statement, for the General Company (UR) affiliated with the Ministry of Industry to purchase the damaged and damaged cables and wires from the Ministry of Electricity and all their assortments for a price to be agreed upon between the two parties.

The Council reviewed the technical report prepared by the Ministry of Commerce on the reality and work of private mills, and decided to support the Ministry’s measures to improve the quality of flour production provided to citizens, as well as to approve the transfer of ownership of the mills.

The Council also agreed to cancel the withdrawal of work from the company executing the contract to prepare (16) spherical tanks so that the completion rates reach the final stages. The Council also decided, upon the request of the Ministry of Agriculture, to open the import of winter crops (lahana, cauliflower, lettuce, turnips, and beets). https://www.mawazin.net/Details.aspx?jimare=250167

How Much Were The Dollar Exchange Rates In The Markets Today?

Economy | 06/24/2024 Baghdad - Mawazine News The exchange rates of the dollar against the dinar rose today, Monday, in the markets of the capital, Baghdad.

Dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 147,150 dinars for every 100 dollars, while yesterday, Sunday, they recorded 146,800 dinars for every 100 dollars.

Selling prices also rose in the local markets in Baghdad, as the selling price reached 148,000 dinars, while the purchasing price reached 146,000 dinars for every 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=250162

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

Provoking Points To Ponder On Chance and Fortune

I make the most of all that comes, And the least of all that goes. -Sara Teasdale

If you do not expect it, you will not find the unexpected, for it is hard to find and difficult. -Heracl*tus

Two roads diverged in a wood and I - I took the one less travelled by, And that has made all the difference.-Robert Frost

Unless a man has trained himself for his chance, the chance will only make him ridiculous.-W. Matthews

Chance is always powerful. Let your hook be always cast. In the pool where you least expect it, will be a fish.-Ovid

Chance is the pseudonym of God when he did not want to sign.-Anatole France

The harder you work, the luckier you get.-Gary Player

I think we consider too much the good luck of the early bird and not enough the bad luck of the early worm.-Franklin D. Roosevelt

Fortune favours the bold.-Terence

The luck of having talent is not enough; one must also have a talent for luck.-Hector Berlioz

In the field of observation, chance favours the prepared mind.-Louis Pasteur

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

http://famousquotesandauthors.com/quotes_by_topic.html

U.S. Dollar Will Lose its Reserve Status, “We Fumbled this Big Time”: Charles Payne

Daniela Cambone: 6-24-2024

The Fed is on the verge of making a monumental mistake,” warns Charles Payne, host of Fox's "Making Money with Charles Payne.” Speaking with Daniela Cambone, Payne criticizes the Federal Reserve's decision to hold interest rates steady at a 23-year high, arguing it will not benefit the economy.

He also lashes out against the Fed's “data-dependency” approach, questioning, “What data exactly are you looking at? Are you looking at late payments? Are you looking at bankruptcies?”

On recent reports of Saudi Arabia breaking away from the petrodollar system, Payne acknowledges that de-dollarization is happening.

"We're not doing the things that come with the sort of fiduciary responsibility of having the world's premier currency," he says.

He also advises people to stay flexible about the city where they buy their first home and to start saving. Watch the insightful interview now to learn more about Payne's views.

CHAPTERS:

00:00 De-dollarization

5:48 HSBC statement about the US dollar

7:21 Fed rate cuts

10:58 Job market

13:50 People can’t retire

16:52 Housing purchasing

20:44 Stock market

23:39 Investing in precious metals

24:58 Future of America

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

BRICS' WIN IN ASIA: Malaysia & Thailand Apply to Join, While Japan Is Ditching US Treasuries

Lena Petrova: 6-24-2024

https://www.youtube.com/watch?v=oI4qrr87zN4

US Dollar to Get Re-Priced from ‘Widely Overvalued’ Levels, Massive Impact on Gold, Bitcoin Targets

Kitco News: 6-24-2024

U.S. Treasuries will be dumped as global reserves by 2030 as the U.S. dollar will get re-priced from "widely overvalued" levels, Luke Gromen, founder and president of Forest for the Trees (FFTT), tells Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News.

Gromen weighs in on what he sees as the new global reserve asset and what it means for gold and Bitcoin prices.

https://www.youtube.com/watch?v=Vv9DVOhyNhE

Goldilocks' Comments and Global Economic News Monday 6-24-24

Good Evening Dinar Recaps,

~~~~~~~~~

Options Clearing Corporation: Risk Management Transformation |Youtube

~~~~~~~~~

Understanding Treasury Contract Specifications |Youtube

~~~~~~~~~

Central Bank Swap Arrangements, Explained |Youtube

👆 Goldilocks pointed to this article

~~~~~~~~~

Hong Kong invites global opinions on web3 and virtual assets future -StartupNews fyi

~~~~~~~~~

Asset managers update proposals for Ether ETFs, eyeing July launch —Blockchair News

~~~~~~~~~

Commission seeks input from industry on the use of artificial intelligence in finance -European Commission

~~~~~~~~~

The podcast 6/22/24 on Vietnam should get everyone excited about where we are with FACTS. Podcast Youtube

~~~~~~~~~

Goldilocks'Daily Breakdown PodcastLink

Goldilocks'Telegram Room

Goldilocks' Q & A ClassroomLink

Follow Goldilocks'Roadmap

Follow Goldilocks'Timeline

Goldilocks on theSeeds of Wisdom Team™Website

Subscribe toNewsletter

Thank youDinar Recaps

Iraq News Highlights and Points To Ponder Monday AM 6-24-24

Oil Continues Its Losses As Commodity Markets Are Affected By The Rise Of The Dollar

Monday 24, June 2024 08:38 | Economical Number of readings: 148

Baghdad / NINA / Oil prices fell in early Asian transactions today, Monday, for the second session in a row, affected by the rise of the dollar after renewed fears of the continuation of high interest rates for a longer period and the lack of risk appetite among investors.

By dawn today, Brent crude futures fell 40 cents, or 0.5%, to $84.84 per barrel, after falling 0.6% upon settlement on Friday. West Texas Intermediate crude futures also fell 39 cents, or 0.5%, to $80.34 per barrel. The rise of the dollar raises the cost of purchasing oil denominated in the US currency for holders of other currencies.

But crude contracts rose by about 3% last week due to indications of increased demand for oil products in the United States, the world's largest consumer, as well as the continued implementation of production cuts in the OPEC+ group.

Oil prices received support from geopolitical risks in the Middle East due to the war in the Gaza Strip, as well as the intensification of Ukrainian drone attacks on Russian oil refineries.

]https://ninanews.com/Website/News/Details?key=1133787

The Dollar Rises Again Against The Iraqi Dinar After Declining For Two Consecutive Days

Economy |Today Baghdad today – Baghdad Today, Monday (June 24, 2024), the dollar exchange rates recorded a slight increase against the Iraqi dinar on the main stock exchange in the capital, Baghdad .

The "Baghdad Today" correspondent said, "The dollar prices on the Al-Kifah and Al-Harithiya stock exchanges recorded 147,100 dinars for every 100 dollars."

He added, "Prices in banking shops in local markets in Baghdad also recorded an increase, as the selling price reached 148,000 dinars, while the purchase price reached 146,750 dinars for every 100 dollars." LINK

The 2024 Budget Is Safe With Government Controls

Iraq 06/24/2024 The Budget Department of the Ministry of Finance called on all ministries, governorates, and entities not affiliated with a ministry, to send their authorized representatives for the purpose of receiving estimates of current expenditures, revenues, and investment projects for the current year, approved by the House of Representatives, and this is the first time that general budget tables have been approved and not a law.

Budget, where the government set a general budget for three years (2023, 2024, 2025).

There has been much talk among specialists about the budget deficit, which some have estimated at 25 percent, while the government seems confident in its calculations and is constantly calling for reassurance.

The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Saleh, on specific mechanisms to fill the supposed deficit.

Saleh told Al-Sabah: “There are various objective factors that public finances depend on in the event of a real emergency deficit during the remaining six months of spending of the current fiscal year, which is known as limited resort to short-term loans or bridge loans in the terminology.”

He explained, “The general budget law in force allows borrowing with treasury bonds or transfers from the internal banking market, in addition to controlling operational spending priorities, which is what is called financial discipline, which tends towards preferring some necessary operational expenses over others according to priorities,” indicating that “this comes To provide sufficient financing for the committed urban projects without faltering or stopping.”

Saleh noted that “the policy of financial discipline adopted by the fiscal policy has become more restrictive in collecting government revenues and in accordance with strict oversight characterized by speed and precision,” and stated that “it is no secret that there are funds that were not spent from the previous fiscal year’s budget and were recycled, which provides a facilitating, compensatory climate.” In the flow of cash revenues, especially in meeting part of the basic and development spending needs in the current year’s budget.”

He pointed out, "Despite the above, oil markets are still in booming demand and their prices are higher at a rate of change of (positive 15 percent) than what is planned for the price of a barrel of crude oil in Federal Budget Law No. 13 of 2023 (the tripartite budget), which is $70 per barrel." “One,” he stressed, “this in itself is a positive element in covering necessary spending, and leads to a continuous reduction in the hypothetical or planned deficit gap.”

In this context, economic affairs researcher, Nabil Jabbar Al-Tamimi, stated that the ceiling on government spending and revenues is restricted, expecting that public spending will not exceed the available amounts.

Al-Tamimi told “Al-Sabah”: “The general budget is numbers, tables, and hypothetical estimates for revenues and spending, and in general, the government has set a high ceiling for revenues and spending, and indicated that a large deficit could occur in the issue of revenues to cover spending.” He added, “The government has put in place a set of plans.” To cover the budget deficit, including borrowing and selling bonds.

He continued, "The government will not spend more than the expected revenues and will not be able to implement the budget in full technically and financially, and spending at the end of the year will not exceed 150 trillion dinars." He stressed that "this number is the amount of revenue achieved with a small deficit," indicating that "the government will not You can implement the budget in full and will remain hostage to the funds collected, which will be spent according to the available ceiling.”

Edited by: Muhammad Al-Ansari https://alsabaah.iq/98452-.html

An Economist Expects The Dollar Exchange Rate To Approach The 140,000 Threshold

Economy Information / Baghdad..Today, Monday, the economic expert, Nabil Al-Ali, expected a decline in the exchange rates of the US dollar against the Iraqi dinar during the coming period.

Al-Ali told Al-Maaloma Agency, “There is a possibility that the exchange rate of the dollar against the dinar will reach 142 thousand in the coming days if the Central Bank of Iraq’s sales of foreign currency continue to increase.”

He added, "The increase in the Central Bank of Iraq's sales of dollars through the currency auction will contribute to reducing exchange rates, even if slightly, without returning to the threshold of 150,000 or more."

Al-Ali pointed out that "exchange rates recorded a relative decline at the beginning of this week."

America worked to destroy the Iraqi currency by imposing sanctions on private banks and banning the dollar under many pretexts, which led, in one way or another, to a severe financial crisis in the local markets. LINK;

Provoking Thoughts and Points To Ponder On Adversity

Trouble will rain on those who are already wet. -Anonymous

They say a reasonable amount o' fleas is good for a dog - it keeps him from broodin' over bein' a dog mebbe. -Edward Noyes Westcott

There is nothing the body suffers which the soul may not profit by. -George Meredith

The burden is equal to the horse's strength. -The Talmud

Nothing befalls a man except what is in his nature to endure. -Marcus Aurelius

I am escaped by the skin of my teeth. -Bible

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

http://famousquotesandauthors.com/quotes_by_topic.html

TNT:

Tishwash: Al-Nujaba: There is no solution to the American presence in Iraq except through “military jihad”

Today, Sunday, Al-Nujaba Movement identified a single solution to end the American presence in Iraq.

The movement stated in a statement received by Al-Youm Al-Akhbariya: “We congratulate the brothers in the Sayyid al-Shuhada Brigades on the rise of the Mujahid Abdullah Razzaq Anoun al-Safi as a martyr following a brutal American attack.”

She continued, "This targeting and previous American terrorist operations confirm, beyond doubt, the validity of what the Al-Nujaba Movement has repeatedly declared, that the presence of these occupying forces is a hostile combat presence whose job is to protect the interests of the American and Zionist occupation."

Al-Nujaba continued her statement: "We affirm the continuation of our jihadist work." Military, which we consider to be the only solution that limits and ends the existence of the occupation.” link

Tishwash: The President of the Republic calls for amending laws related to investment

The President of the Republic, Abdul Latif Gamal Rashid, called today, Monday, for amending the laws related to investment, while praising the efforts of the Financial Supervision Bureau.

A statement from the Presidency of the Republic, received by Al-Iqtisad News, stated that “President of the Republic, Abdul Latif Jamal Rashid, received today at Al-Salam Palace in Baghdad, the Chairman of the National Investment Authority, Haider Muhammad Makiya,” noting that “during the meeting, the National Authority’s work plans and its investment policy were reviewed.”

The President of the Republic pointed out "the necessity of overcoming obstacles facing investors, as well as supporting Iraqi businessmen and involving them in the investment process."

He explained that "activating investment requires making amendments to some of the applicable laws," stressing his support for "everything that would facilitate and revitalize this vital sector in a way that strengthens the national economy and provides job opportunities."

He stressed "developing communication mechanisms, exchanging experiences and information, and enhancing the process of trade partnerships between Iraq and countries with expertise in this field."

For his part, Makiya stressed the Authority's "keenness to develop the work," reviewing "the investment plans and projects currently in the works, in addition to the future plans drawn up to develop all cities in Iraq and serve their residents."

The statement continued, "The President of the Republic, Abdul Latif Jamal Rashid, also received today at Al-Salam Palace in Baghdad, the head of the Financial Supervision Bureau, Ammar Subhi Khalaf, and during the meeting, the work of the Financial Supervision Bureau was discussed."

The President of the Republic stressed "the importance of the Bureau's work in establishing concepts of integrity and transparency for the work of state institutions," noting "the necessity of continuing efforts to preserve public money and combat administrative and financial corruption."

He pointed out that "promoting the concepts of integrity and anti-corruption helps support the country's development process, enhances investment and supports the private sector, and provides equal opportunities for all," indicating "the importance of strengthening coordination between all regulatory bodies to achieve these goals."

He referred to "the work of the Financial Supervision Bureau in monitoring the performance of state institutions," praising "the efforts made by it in taking care of public money, reducing waste of spending, and monitoring the implementation of development projects in the country."

For his part, Ammar Sobhi Khalaf appreciated the “directives of the President of the Republic,” reviewing the work progress of the Financial Supervision Bureau, the tasks assigned to it, and the plans drawn up to develop the work in the future to achieve the goals set for it.” link

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

Tishwash: Warning against trading digital currencies in Iraq

He refused to let Iraq deal in these currencies because they lacked basis for evaluation except supply and demand. link

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

CandyKisses: Disabling official working hours next Tuesday (Tomorrow) on the occasion of Eid Al-Ghadir

Baghdad - Mil

The State Media Cell announced, on Sunday, the disallation of official working hours next Tuesday on the occasion of Eid Al-Ghader Al-Aghar.

The official media quoted the spokesman for the team, Haider Al-Majeed, followed by "Mil", that "The Prime Minister, Mohammed Shia Al-Sudani, directed during the meeting of the Council of Ministers, in its twenty-fourth regular session, held on 2024/6/10, to disrupt official working hours on Tuesday, corresponding to June 25, 2024, in all ministries and government institutions, coinciding with the day of Ghadeer, based on the provisions of Article (1/I/G) of the Law on Public Holidays (12 of 2024)."

With the launch of the activities of "Al-Ghadeer Week" with the participation of 12 countries, the Iraqi Ministry of Interior confirmed, on Friday, the preparation of a plan to secure the atmosphere of Eid Al-Ghadeer Al-Agar and facilitate the entry and movement of visitors in Najaf and the rest of the governorates.

Last Thursday, the Supreme Committee for the activities of "Ghadeer Week" in Iraq announced the completion of the preparations and preparations for that religious occasion, which was approved on a recent official holiday.

On the 18th day of Dhul-Hijjah according to the Hijri calendar, Shiites celebrate "Eid Al-Ghadir," which is the date on which the Prophet Muhammad delivered the sermon of Ghadeer in the area of "Ghadeer Kham", while returning from his last argument (the farewell pilgrimage), in the tenth year of Hijra, in which his cousin, Imam Ali, was given an imam to Muslims after him.

On May 22, the Iraqi parliament voted on the bill for public holidays, which included the Eid al-Ghadeer holiday.

Iraq Economic News and Points To Ponder Sunday Afternoon 6-23-24

Advisor To The Association Of Banks: The Central Bank's Third Strategy Is A New Methodology For Financial And Banking Reform

Economy News – Baghdad Mecca – Exclusive Samir Al-Nusairi, advisor to the Iraqi Private Banks Association, confirmed that the Central Bank's third strategy has drawn up a road map and programs with clear goals and initiatives for a period of three years in a special, complex, and risk-filled economic and financial situation.

Al-Nusairi said, in an interview from Makkah Al-Mukarramah, exclusively for “Al-Iqtisad News,” that “the Central Bank’s third strategy for the years (2024-2026), which derived its main and subsidiary objectives from the general economic policies of the state and its strategy for financial and banking reform that the government adopted in the government curriculum and from Central Bank Law No. 56 of 2004, and the new strategy has drawn up a road map and programs with clear objectives and initiatives for a period of three years in a special and complex economic and financial circ*mstance full of risks and challenges at the level of internal and external economic and financial relations.”

He pointed out, “What concerns us as specialists in economic, financial, and banking affairs is what are the new mechanisms and policies that the Central Bank has adopted in its monetary policy and banking reform? According to the approach of the fundamental change desired for the national economy, in which the banking sector constitutes the first and basic link and the implementer of monetary policy applications.”

Al-Nusairi explained that “the Central Bank’s third strategy set the basic goals at 7 goals, the sub-goals at 80 goals, and 75 initiatives to achieve the basic and subsidiary goals and charted the way for banking and financial reform in accordance with the following strategic goals: -

1- Supporting and enhancing monetary stability.

2- Promoting digital transformation and activating electronic payment.” Strengthening cybersecurity in the Central Bank and the banking sector.

3- Promoting financial inclusion.

4- Maintaining a sound financial system that guarantees the rights of its customers.

5- Developing the organizational structure and developing human resources capabilities in the central bank.

6- Strengthening the position of the central bank locally and internationally.

7- Strengthening the compliance of the banking sector Non-banking institutions in line with international standards.

He added, “These strategic objectives have been defined as programs and policies to achieve the primary and subsidiary objectives and their most prominent initiatives in achieving the first strategic objective, which is the national lending strategy, which will restructure banking financing in Iraq and the initiative to leave the electronic platform and adopt correspondent banks in Iraq.”

External transfers and the goals emphasize protecting the financial system, enhancing financial inclusion, managing monetary and financial stability, developing control and supervision, developing regulation in the banking sector, completing the development of the organizational structure in the central bank in accordance with the frameworks and techniques adopted in international central banks, raising the capabilities of human resources, developing banking operations, and enhancing bank relations. internal and external, and to represent him locally and internationally.”

Al-Nusairi concluded, “By analyzing the mechanisms and action points to achieve the above goals, we note that the strategy identified the planning team, the implementation team, the implementation mechanisms, and responsibility. It also identified clear priorities for achieving reform. Certainly, these priorities were diagnosed in light of the challenges facing the monetary policy and the banking sector, the implementation steps, and the results achieved by the strategy.”

The first is for the years 2016-2020 and the second strategy is for the years 2021-2023 and the stifling economic and financial challenges that Iraq has suffered over the past years.

Work through this strategy is to clearly identify opportunities to overcome the challenges for this and for the purpose of implementing the banking reform methodology according to what was stated in the strategy and according to an insight into the priorities and challenges that The Iraqi banking sector is suffering from it.

The Central Bank made exceptional efforts during this year and last year, completing the first phase of it and began implementing the second phase.

Many of the primary and secondary objectives were achieved, and it is trying to complete the achievement of all the objectives in the second half of 2024 and the years 2025 and 2026 of the plan that has been proven to have been prepared and planned. It has identified advanced steps on the path to systematic implementation of the desired financial and banking reform in Iraq.

283 views 06/23/2024 - https://economy-news.net/content.php?id=44513

The World Bank Predicts Iraq's Economic Future In 2026

Economy | 12:19 - 06/23/2024 Baghdad - Mawazine News The World Bank expected, today, Sunday, that Iraq will achieve economic growth of more than 5% in the year 2026.

The bank stated in a report followed by Mawazine News, that “Iraq’s economic growth for the year 2022 reached 7.6%, and in 2023 it decreased.” To reach - 2.9%.

He expected Iraq's economic growth to decline in 2024 to reach 0.3%, to achieve growth in 2025 of up to 3.8%, and to achieve growth in 2026 of up to 5.3%.

The bank's report indicated that "oil exporting countries from outside the Gulf Cooperation Council will help the expected recovery in the oil sector in 2025 boost growth in Iraq and Algeria." https://www.mawazin.net/Details.aspx?jimare=250086

Iraq's Oil Exports To America Declined Last Week

Sunday 23, June 2024 10:44 | Economical Number of readings: 238 Baghdad / NINA / Iraq's oil exports to the United States recorded a decline during the past week.

The US Energy Information Administration stated in a report, “The average US imports of crude oil during the past week from 8 major countries amounted to 6,028 million barrels per day, down by 21 thousand barrels per day from the previous week, which amounted to 6,120 million barrels per day.”

She added, "Iraq's oil exports to America amounted to 164,000 barrels per day last week, down by 64,000 barrels per day from the previous week, which amounted to 228,000 barrels per day."

She continued, "Most of America's oil revenues during the past week came from Canada, followed by Mexico, then Saudi Arabia and Colombia, while American imports of crude oil continued, from Brazil, Ecuador and Nigeria, and it did not import any quantity from Libya."/End 11 https://ninanews.com/Website/News/Details?key=1133630

Find Out The Exchange Rate Of The Dollar In Local Markets

Economy | 10:59 - 06/23/2024 Baghdad - Mawazine News The exchange rates of the dollar against the dinar recorded a slight increase today, Sunday, on the main stock exchange in the capital, Baghdad.

The price of the dollar in the Kifah and Al-Harithiya stock exchanges recorded 146,850 dinars for every 100 dollars.

Prices in the exchange shops in the local markets in Baghdad also recorded an increase, as the selling price reached 147,750 dinars, while the purchase price reached 145,750 dinars for every 100 dollars.https://www.mawazin.net/Details.aspx?jimare=250079

Currency Auction: Central Bank Sells $273 Million

Economy | 06/23/2024 Baghdad - Mawazine News The Central Bank revealed, on Sunday, its hard currency sales for today, confirming that they amounted to more than 273 million dollars in the currency auction.

In its auction today, the bank sold 273 million, 244 thousand and 330 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for external transfers.

According to the bank’s data, the total internal cash withdrawals amounted to $22,970,000, while the total amounts of transfers abroad, which include transfers and credits, amounted to $250,274,330. https://www.mawazin.net/Details.aspx?jimare=250106

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

Provoking Thoughts and Points To Ponder On Adversity:

The virtue of prosperity is temperance; the virtue of adversity is fortitude, which in morals is the heroical virtue. -Francis Bacon

The keenest sorrow is to recognize ourselves as the sole cause of all our adversities. -Sophocles

No untroubled day has ever dawned for me. -Seneca

You can't have more bugs than a blanketful. -Spanish proverb

Even in the deepest sinking there is the hidden purpose of an ultimate rising. Thus it is for all men, from none is the source of light withheld unless he himself withdraws from it. Therefore the most important thing is not to despair. -Hasidic saying

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

http://famousquotesandauthors.com/quotes_by_topic.html