On Friday, Muhammad Al-Saadi, an expert in economic affairs, clarified that controlling the exchange rate of the dollar in the parallel market does not require arrests or forceful measures. Instead, it requires a technical solution that can strengthen the position of the dollar and support the dinar.
According to Al-Saadi, the government has taken the appropriate action by using legal prosecution against speculators. This is a necessary first step to resolve the disparities between the official and parallel markets for exchanging dollars.
He stated that technical and financial decisions must be made to increase the avenues for currency sales and enable citizens to make limited purchases by implementing restrictions or prerequisites.
He pointed out that citizens often suffer from exchange and high prices before merchants do. This is because merchants have started using the official platform to obtain dollars while citizens still struggle to get them. Some citizens even face difficulties buying cars in dollars. The government could help by opening a window to sell dollars to those who want to buy a car, as long as they provide an official purchase contract as proof of their intention.
Last Thursday, Alina Romansky, the US ambassador to Baghdad, explained the purpose of her recent visit with Iraqi politicians. She stated that the United States is prepared to assist Baghdad in resolving water-related issues with upstream countries. Furthermore, she emphasized that Iraq’s implementation of a legitimate banking system will ensure the stability of the dollar’s exchange rates.
During an interview with journalist Saif Ali, Romansky mentioned the following:
I had a wonderful summer vacation in America and afterward returned to Washington to prepare for important meetings on August 7th and 8th. These meetings were beneficial for the defense ministries of the two countries. Once they were over, I returned to Baghdad and felt it was important to meet with Iraqi political leaders. I wanted to catch up on what had happened during the five weeks I was away and follow up on matters with the Prime Minister.
As a responsible assistant, we will keep track of the provincial council elections and their fairness, along with the Kurdistan Parliament elections, followed by parliamentary elections. These events are indicative of a robust democracy.
There are various factors that contribute to the fluctuation of the dollar against the dinar. These factors include the existence of an alternative financial system and the presence of smugglers and money launderers, which ultimately result in an increase in the value of the dollar.
The restoration of a legitimate banking system can lead to a stable exchange rate.
I believe there may be some confusion regarding the 14 banks. While no sanctions have been imposed on them, they are currently prohibited from conducting transactions in US dollars.
Welcome to Episode #340 of the Value Investor Podcast.
Every week, Tracey Ryniec, the editor of Zacks Value Investor portfolio, shares some of her top value investing tips and stock picks.
Recently, the Wall Street Journal ran an article called “Here’s What a $5 Million Retirement Looks like in America.” In the article, it highlighted 5 couples and singletons who had substantial investment portfolios, over $1 million, and several had over $4 million portfolios. That’s impressive. They are rich.
How’d they do it?
None of those in the article were best selling novelists, movie stars, or professional athletes. That makes it seem even more obtainable for you and I. If they can do it, why not us?
Lessons from Rich Retirees
Those featured in the article seemingly had similar paths they followed to achieve this incredible wealth. This included,
1. They started investing early
2. They maxed out their 401ks
3. They invested in equities, both individual stocks and index funds. You don’t have to get fancy.
Keep it Simple
The stocks listed in the article were big caps that you and I could also own. When Tracey has talked with her friend Ed, another rich retiree with a million-dollar stock portfolio, he too owned basic, large cap stocks, many of which paid dividends.
None were IPOs or a small cap stock that was largely unknown to most investors. These rich investors had kept it simple.
1. Bank of America (BAC Quick QuoteBAC - Free Report)
Warren Buffett has owned Bank of America in the Berkshire Hathaway portfolio for years. It’s up 108.3% over the last 10 years, but that’s underperforming the S&P 500 which is up 170% during that same time.
Bank of America pays an attractive dividend again, however, now yielding 3%, which gives long-term investors even more firepower for compounding.
Should value investors be considering a bank like Bank of America again?
2. The Sherwin-Williams Company (SHW Quick QuoteSHW - Free Report)
Sherwin-Williams rarely gets much attention on the business shows like CNBC or Fox Business. But Tracey’s friend Ed has owned it for decades. Over the last 10 years, shares of Sherwin-Williams are up 437.8% with the dividends reinvested. That’s an annualized return of 18.3%.
$10,000 invested in Sherwin-Williams in 2013 would be worth $53,780 in 2023.
NVIDIA was mentioned in the article as a holding by one of the rich retirees. If you had bought NVIDIA just 10 years ago, it would have gone up an astounding 11,786%.
But in 2022, shares sold off so it now has a 2-year return of “just” 117%. But NVIDIA is a leader in AI and revenue is expected to rise 59% this fiscal year to $43 billion from $26 billion last year. That’s impressive.
Is NVIDIA a good buy-and-hold stock for long-term investors?
Berkshire Hathaway shares have been hitting new all-time highs in 2023. For investors looking for a way to track Buffett’s moves, including buy-and-hold, why not just buy shares of Berkshire’s B shares?
Shares of Berkshire Hathaway are up 218.9% over the last 10 years which beat the S&P 500 which was up just 170% during that same time. Over 20 years, Berkshire is up 600.9% versus the S&P 500 gaining 338.5%.
Should Berkshire Hathaway be on your short list?
5. Vanguard 500 Index Fund (VOO Quick QuoteVOO - Free Report)
Many of the rich retirees said they owned “indexes.” They didn’t say which index but the most common one is the S&P 500. The Vanguard 500 Index (VOO Quick QuoteVOO - Free Report) is one of the most common choices for those who want to own the S&P 500 in an ETF because it has a low expense ratio of just 0.04%.
Tracey owns shares of VOO in her own personal portfolio. It’s up 14.1% year-to-date but hasn’t yet hit another new all-time high this year. Buffett is a big fan of owning the indexes, like the VOO.
Should the VOO be the first step in growing your own million-dollar portfolio?
BENGALURU, Aug 18 (Reuters) - The U.S. Federal Reserve is likely done raising interest rates, according to a strong majority of economists polled by Reuters, and a slight majority now expect the central bank to wait at least through end-March before cutting them.
With the world's largest economy defying nearly every negative forecast, and unemployment around a more than five-decade low, the median probability of a recession within a year fell to 40%, its first time below 50% since September 2022.
A 90% majority, 99 of 110 economists, polled Aug 14-18 say the Fed will keep the federal funds rate in the 5.25-5.50% range at its September meeting, in line with market pricing. A roughly 80% majority expect no further rate rises this year.
That contrasts with minutes from policymakers' recent deliberations, showing a split on whether one more rise might be required. After raising rates by 25 basis points last month, Fed Chair Jerome Powell kept options open for whether there would be a hike or a pause at the September meeting.
"Chair Powell says that decision will come down to upcoming data on growth and inflation, which we suspect will show enough signs of moderation to dissuade further rate hikes," noted Sal Guatieri, senior economist at BMO Capital Markets.
"Still, a move to lower the current target range of 5.25%-5.50% is unlikely to begin until about June 2024 given the expected sluggish path of inflation back to the target."
The Fed's preferred gauge of inflation has fallen sharply from a peak of 7.0% following 11 interest rate hikes from near-zero in early 2022. But it is not expected to fall to the 2% target until at least 2025, according to the poll.
Greater confidence the economy may skirt a major downturn has led to growing expectations rates will stay higher for longer, leading to convulsions in bond markets in recent days. The benchmark 10-year Treasury note
yieldis now only a few basis points off its cycle high in October.
Indeed, 23 poll respondents said rates will rise once more this year, with two saying twice more, to 5.75-6.00%.
While a majority among 95 economists who have forecasts through mid-2024 say rates will fall at least once by then, there is no majority for the timing of the first cut.
Just over half, 48 of 95, said the Fed will hold off cutting rates through end-March, with another 45, or 47%, saying its first cut will come in Q1. The other two still expect a cut in the fourth quarter of this year.
As recently as June, over a three-quarters majority of economists polled said the Fed would start by end-March.
Another 33 respondents, roughly 35%, forecast the Fed will go for its first rate cut in Q2, leaving 79 of 95, or 83% expecting at least one rate cut by mid-2024.
SHELTER COSTS TO COME DOWN
Much will depend on how quickly inflation will fall in the last stretch from 3.0% currently on the personal consumption expenditures (PCE) index to the Fed's 2% target.
Shelter costs - which account for around a third of the consumer price index (CPI) basket and are one of the main current drivers of inflation - will fall over the rest of the year, said nearly three-quarters of economists, 23 of 31.
That would help price pressures decline over the coming months, making the fed funds rate adjusted for inflation - the real interest rate - more restrictive if held unchanged.
Adjusting that real rate of interest would most likely be the reason for a rate reduction from the Federal Open Market Committee next year rather than a first move toward stimulus, said 21 of 32 economists in a reply to another question on what will prompt the first rate cut.
"We have long seen a high threshold for cutting because Fed officials will want to minimize the risk they could regret cutting if inflation stays too high," said David Mericle, chief U.S. economist at Goldman Sachs.
"The cuts in our forecast are driven by this desire to normalize the funds rate from a restrictive level once inflation is closer to target, not by a recession."
Welcome, everybody to the big call tonight - It is Thursday, August 17th and you're listening to the big call - thanks for listening all over the globe. I was informed that we would be trying to reach 197 countries tonight and looking for about 26 million listeners in those international areas and say what difference does it make and why do I bring that up?
It's to let you guys know that that is our community of currency holders out there. globally. That's what the call is directed to. And it's literally targeted to those people who have currencies just like you do. And I love that and it was a big surprise when I found that out. But I really think our community which you're a part of is big call universe is bigger than we thought it was. And so that's really cool.
You're not alone. And even though sometimes, you might feel alone in this, and you can't talk to your spouse like they're not a believer, you can't talk to your other friends. you've lost friends over this. I get. I've been in it 19 years. I understand everything that everybody's gone through. But let me just say this - I'm excited that the community is larger than we thought - and that big call is getting out to so many people around the globe
Okeydoke Well, here we go and let’s see how much I can recall to bring out to you guys tonight because there is a lot that we learned yesterday and a few tuneups and touch ups that we got today, which are interesting. Let's sort of create our own timeline tonight.
Starting with today or tomorrow, that's Thursday or Friday - The bondholders are to receive brand new NDAs those are to go out either today or tomorrow. My gut feeling is probably tomorrow.
So they get those. They have to return those digitally and sign those digitally, or have their paymaster also co sign those NDA returns back to let's call it headquarters, which would be Wells Fargo.
And those returns by the bond sellers - let’s call them - and intermediaries have to get back by tomorrow night – Friday night , then the process and you'll see why this applies to us in a minute - and these are tier three bondholders - then they're to receive their emails Saturday from the bond pay masters that will give them access to funds on Monday ot Tuesday, this coming week. That's the process that they're in.
A lot is going to happen next week starting really over the weekend. So let's comment about the weekend first, to go all the way to Tuesday, Wednesday and Thursday 22nd 23rd 24th of August - That as you guys know are the dates for the BRICS summit in Johannesburg, South Africa. Tuesday, Wednesday and Thursday. Very important, very big.
At least 93 countries probably more that have ascribed to the BRICS consortium and that each country as a sovereign country has their own gold backed currency – and already has it. Let me put it this way - for membership into the BRICS - Let's call it a consortium.
For membership into it they need to have an asset backed actually gold for the most part - Gold back currency of their own.
Okay, so that's been going on. And every time we turn around the number of countries gets larger. Today, I understood that that would represent approximately 85 to 88% of the countries around the world would be part of the BRICS. Remember the BRICS started with Brazil, Russia, India, China, South Africa, B R I C S. And to those initial original five countries, we've added quite a few and we're somewhere up around - Gosh, 96 and probably more by the time of this show tonight.
All right - So you've got that set up. And I told you guys Tuesday night, that that appears to be a timeline where we need to get everything that we're doing – done in accordance with if not before the BRICS summit begins Tuesday.
Alright let’s back up on our timeline. We were here through the weekend and made it to Saturday. And now we have information that says that President Trump will be receiving international let's call them guests from several countries. Russia, China, Turkey Indonesia, Iraq, at least five or six countries coming to the conclusion a delegation if you will, small delegations with lot of security. He'll be meeting with these leaders over the weekend. And that's a really big deal.
I wish I could give you more information about that. But suffice it to say that this is all happening prior to Monday, which is a very big day for the world.
I think what we're going to see from President Trump is three to five announcements made by him possibly in conjunction with so many other leaders that don't know that I'm only putting that out there as a possibility. But we're gonna have I believe that announcement one of the five announcements if I'd get made that major announcements, one that we've been looking for for a long time is about NESARA.
Okay, NESARA to be announced sometime Monday. The next announcement would be an announcement about our new asset backed currency known as the USN. United States news, what that came from USN. We also use the term United States Treasury note USTN to designate our banknotes, our currency
So that announcement is supposed to come out with an announcement about the money that we have now, the Fiat dollars, it's not backed by any real assets – only the full faith and credit of the US government - that is going away. It's already gone away. Pretty much fully internationally except for Canada - US and Mexico. still usable here. And I believe we'll be able to use it in the United States, if not North America, which is Canada, US and Mexico - its considered North America, right.
So it will be used in the United States for another three months. I don't know when the cutoff date will be. So if you have tons of USD fiat currency stashed in your mattress, and cans out buried in the yard, you might want to consider spending it or turning it in for the new currency. So our new USN bank notes we hear from our bank sources will go out next week.
I don't know if it'll make it Monday, Tuesday or Wednesday when it comes out. But I think you know, there already have already been at the redemption centers for months and months. I think some have had it for well over a year because we've heard about when they first got there.
The banks if they have them already, which I think a lot of them do, like the tier one bank to they'll have them in the vaults, probably already in teller drawers in the vaults and then they'll use those when they're told to to bring those out for us - or for the public.
So those two announcements dealing with NESARA and the USN and President Trump on Monday. Now, three, possibly three more announcements would be political announcements, but I don't know exactly what they're going to be about. I have an idea what I hope they're about we'll see what that looks like. Now hold on this come out.
It would seem to me that something is vitally important as NESARA, and really, in turn, GESARA for the global economic - Okay, those should come out approximately the same time.
And NESARA something that important as well as our new money, our new currency - We already have the digital USN going and trading and have for a little while, but this will bring our new folding money if you will, our bank notes out - and we should be able to know about that on Monday and then the political announcements would follow that, I think, but five, three to five announcements on Monday by President Trump.
Now how would they bring those out? I believe they would have to use something that would allow all of mainstream television and radio media to cover it. Well, a lot of the mainstream media has not really been up to speed as far as reporting the truth of things as you guys know.
And I believe, remember, we've got the emergency broadcast service, EBS, they've got the emergency alert service - EAS and we have the new EWS - emergency wireless service and by the way the Emergency Broadcast System and emergency alert system. It's used our phones for a number of things.
So that’s happening - we have that companies are happening in terms of the EWS happening now. In other words, Monday, Tuesday is coming up hold on one second. Okay.
Sorry there's sort of blank space here. But I did get a call and it was sort of pertinent to what I'm saying about political announcements that we're looking forward to
Now I would not be surprised if they use the EWS emergency wireless system, or EBS or EAS all of them to get this news out and if mainstream media doesn't come to the party on this and say, say it accurately. I'm sure our military is ready to take those networks over and make sure that the news is accurate.
I also thimk that we could have some form of early disclosure coming out that would come out behind these announcements. Maybe not the same day, maybe not Tuesday, or Wednesday might come in fairly, fairly. shortly.
And I'm excited about this week because what we're hearing is that after those announcements, and the interesting thing about this is generally speaking, when President Trump announced something, it had already taken place.
That may be the case with the USN and bank notes - our currency in the banks. they could be there ready to go Monday. But it might be that they'll go after the announcement is actually made on Monday. So we'll see how that goes - those announcements could trigger some things for us - could it trigger the emails that we are to receive to set our appointments for our exchanges, its possible on Monday, but I'm hearing it's more likely Tuesday. We'll get those emails with the 800 number set our appointment and go in on Tuesday evening, or Wednesday for our exchanges and redemption of zim.
So we're in in tier four. we're in a tuesday Wednesday Motif right now, that appears to be where we are.
Now, on the 22nd which is Tuesday. There was a lot that is going to start. There's a lot of in there's so much and some of it's a little sensitive that I can't quite bring it out but be prepared for the possibility, a lot of things happening, Tuesday, Wednesday, Thursday, like I said, I think we should get notified Tuesday and we should start exchanges on Wednesday, and then take off from there.
I know that we have a really good situation with the rates for those of us who might have Zim They have a fixed rate that they plan to offer us on our dinar It's very good very high.
There's also have the planned rate to offer us if we assume for any dong We also have and the rest of it is just going to be whatever the front Banks screens are. Okay, let's go back to our timeline.
What is Iraq going to do - when are they going to maybe bring out their new rate, print it in the gazette - and all of that on Sunday? We believe the Prime Minister is here. Could he make the announcement from here or would that new rate and the opening of the budget and the HCl law which has been passed and needs to be implemented and so on.
Would that be announced here or would that come out on Sunday or Wednesday? We don't know the answer to that yet. It could be Sunday, or it could which is the first business day remember that? In the Middle East - It's Sundays a first business day and then Wednesday is another major day because that's when usually the printed version.
Okay, so I am back and I need to make one change here in my little system and one moment let me see here.
Okay. Okay, the other thing that I want to say Intel wise is this is this is a very important week for us. I think we're going to see major changes in our stock exchange by Tuesday or Wednesday.
I think as they transition to the USN, and there'll be some changes in place there. We have heard that we will be on an entirely new financial system, which is the global financial system of the of the
of the world and everything that is coming down that we've been looking for is taking place and should be starting Tuesday and Wednesday and Thursday because this is these are the dates that the BRICS summit is, is underway, those three days.
And these some meetings, as I mentioned, are taking place primary to or preliminary meetings before the BRICS summit, but it's going to be a global phenomenon. And I believe we're gonna get really good information that come out from these announcements. And, and I really think we're starting really starting afresh this coming week. So I wanted to say that get that out to you.
Now I wanted to just thank everybody for listening to the call tonight. Wherever you are around the globe. So thank you everybody for listening. This is looking very solid for next week. Let's see what happens. Let's pay close attention to what happens on Monday for announcements and then we'll take it from there. All right, everybody, have a great weekend.
I believe it will stay quiet until we cross the finish line…But, I have been assured Iraq plans to finish in the month of August. And bankers are still looking at around the 20th…I hope that is accurate. And yes…I am an optimist.
”Iraq possesses 132 tons of gold reserves”
They are continuing to stock up. I believe they are way closer than they are telling us.
Comment: Many still think Iraq will float.
MarkZ:
My sources still believe straight to contract rates for us…
MilitiaMan (KTFA)
What are we looking for? For them to spend the money [from the budget]. If they haven’t spent the money they don’t have it yet.
Their job [parliament, GOI, CBI] is not to tell you, ‘We’re going to change the exchange rate from X to X tomorrow.‘ They’re not going to do that.
Bruce (The Big Call)
[via WiserNow]
…we’re sort of that day by day situation where we’ve been told – we’re minutes away – this is getting ready to go… things are really happening…I think the next two to three days we’re going to be really significant if we go this week… Iraq is still saying they’re going to put out a new rate and open their budget and pull it out in their gazette…they might wait until Saturday or it could be printed in a special edition…of the Gazette…and…the so called HCL the hydrocarbon law the oil and gas law… which has been passed a long time ago – would be implemented with the new rate… We’ll see what happens.
Indomie is beyond need and fraudulent Iraqis… A detailed presentation of Al-Alaq’s statements about the dollar crisis
The Governor of the Central Bank, Ali Al-Alaq, presented, on Wednesday, a detailed presentation on the exchange rate crisis, and controlling the critical balance between dollar supply and demand for it. “Finance we will not print dinars except under conditions.”
Al-Alaq said, in the presence of a number of representatives of media institutions, that international financial agencies have investigated “strange imports,” including large quantities of indomie, even the US Federal Bank asked about the fact that “Iraqis love indomie so much.”
Al-Alaq ruled out the central bank’s resort to printing the dinar to secure the budget’s need, “unless we get an equivalent foreign currency.”
-----
The international coalition reveals the reason for the movement of its military forces in Iraq
Baghdad - Iraq Today:
The international coalition to fight ISIS revealed the reasons for the movements of its forces inside and outside Iraq, noting that they are "standard and routine operations."
"Coalition service members from the Tenth Mountain Division have replaced service members from the Ohio State National Guard," the coalition said in a statement.
"This operation is part of the planned rotational replacement of troops in support of CJTF-Operation Inherent Resolve over the past month," he said.
The coalition noted that the official transfer of responsibility ceremony at Erbil Air Base "took place on August 15, 2023," noting that "in order to redeploy the unit whose scheduled deployment period expires, service personnel in the unit to be replaced must be ready and ready to take charge."
The replacement "includes those equipment belonging to the unit", it said.
These operations are "normative and routine, conducted in a deliberate, planned and carefully coordinated manner with security partners", the coalition said.
"During the replacement and rotation of these forces, the movements of troops, vehicles and equipment inside and outside Iraq take place," the statement said, adding that "these logistical movements are necessary to support the coalition forces."
The Coalition stressed that CJTF-Operation Inherent Resolve "will remain committed to achieving the enduring defeat of Daesh and will continue to advise, assist and empower partner forces through routine disruption and rotation operations."
Here is what was told to me by my CBI contact when I asked these questions yesterday on my weekly call to Iraq:
“As of April 17, 2021 • Basel III rules move physical gold from being considered a Tier-3 asset to being considered Tier-1, which allows physical gold in bullion form to be counted at 100% value for reserve purposes.
All forms of gold, including physical, are required to be at least 85-percent funded with Tier 1 capital in accordance with the Net Stability Funding Ratio (“NSFR”) introduced in Basel 3”.
Remember that Tier 1 capital is not just Gold.
So there is not definitive ration for only Gold to total Tier 1 assets.
I was also told: “that the 113 billion in reserves, the CBI keeps bragging about, is all in US dollars today in the JPMorgan Chase Bank, N.A in NYC and does not include the billions of Gold reserves, which is additional.
Even though Ali Alaq makes reference to backing the dinar with US dollars he knows this is not a safe way to back the dinar in the long run and this will change to a mixture of a foreign currency basket of 6 developed countries.”
In 2011 the plan for the dinar was outlined and included eventually going to a basket of 5 currencies and not just solely the US dollar.
They told me there is now 6 currencies in the basket.
What does all this mean to us as investors?
It means that the CBI is still on track with the 2011 plan and is moving ahead with it.
By reserving gold, they are moving to meet the Basel 3 rules.
So once again the news, if you were paying attention to an article of an interview with Ali Alaq, he told us the future vision of the Iraqi dinar.
It is backing the dinar with GOLD!
No longer just the dollar.
Yes, we can definitely see the trend already to get the dollar out of Iraq.
It is a process.
So, first Alaq says that today they back the dinar with the billions of reserves, which is the dollar.
Then he talks about the future where it will be backed by GOLD not the Dollar.
He says Iraq has 132 tons of gold.
So how much is that in equivalent dollars?
Let’s see if we can figure it out.
1 ton = 2,000 pounds
1 pound = 16 ounces
1 ounce of GOLD is valued at $1,896 (market price) example only
$30,336 per pound
$60,672,000 per ton
Iraq has about $8,008,704,000 billion worth of GOLD
What else is in the news?
Looks to me like Iraq is working with the WTO now since it has joined it and has been working with all along.
I quote from today’s article- “the center will provide to Iraq, with a diagnosis of challenges and work to support Iraq’s accession to the World Trade Organization by providing technical and legal advice and supporting trade policies to align with international standards.”
More proof that Iraq is part of the WTO and is in full accession.
I quote from one of the articles today that just about sums up all of today’s articles on the subject matter:
“Iraq has made strides implementing U.S. dollar supply restrictions targeting Iran but faces an uphill battle with a banking system unaccustomed to strict oversight and persistent currency smugglers, central bank governor Ali al-Alaq said.”
“It is really a battle, because the people benefiting from this situation and those harmed (by the new measures) will try in various ways to continue their illegal activities,” Allaq said in an interview with Reuters.”
We wait for more news on the progression of the currency reforms being instituted by the CBI and the coming second “official” rate change to around 1000.
But they are not there yet and I do not expect this will take too long now that the budget is release.
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: Good morning everyone. Love Peace and Joy to all.
Good morning Mark, Mr. Cottrell, and all the fam!
Member: I cannot believe we are at another weekend already…wow
MZ: No huge runaway RV news guys. “Sudanese and Mandalowi agree to speed up implementation of budget items” They are talking about the economic reforms , the projects ect……they need to stop in-fighting and get this thing implemented.
MZ: In this implementation they need to control their rates. Exchange rates, parallel markets ect……so to me, this was a very encouraging article…they need to go sooner rather than later to get these reforms done. …with a concerted effort from the various blocs to make it happen.
MZ: “Bitcoin, Etherium flash crash triggers $800 million in liquidations” somebody triggered a run or a flash by dumping….most likely a wallet held by the US government……at least that’s what most crypto experts believe…..that the US government tried to flash crash cryptos yesterday….that’s what the indicators based on the wallets are……just .don’t panic.
MZ: Now this is an absolutely huge piece…pay attention. “ China’s Evergrande files for bankruptcy in New York” This is chapter 15- they are trying to get protections from liabilities. Also filing for bankruptcy protection was another big Chinese company yesterday.
MZ: This is enormous and lets us know how troubled the Chinese economy is. If China implodes…Europe implodes. European banks have huge holdings in China. Once that happens….because the US has huge holdings in Europe…..then the US will crash. There is a domino effect…..So who crashes first???
Member: looks like the market meltdown is here
Member: The old system has to crash to bring in the new QFS……come on RV
Member: I always thought right after the markets close of Friday nights was a good time to pull the trigger. Then we exchange over the weekend when the normies are not paying attention….just a thought …..
Member: Good thought. And remember the BRICS summit starts next Tuesday with over 40-60 countries clamoring to join them. Still hoping they announce a new international gold backed currency next week….. Events for the RV may be waiting for that??
Member: I listen to higher source everyday and according to the intel August 21 seems to be good for us
MZ: We will have MilitiaMan on Mondays podcast if we have not already crossed the finish line. We will get his take on where we are at based on fundamentals.
Mr. Cottrell joins the stream today. Please listen to the replay for his information and opinions.
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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!
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.
Member of Al-Fateh: Parliament is on the verge of heated debates regarding the oil and gas law
8-17-2023
Member of Al-Fateh - Parliament is on the verge of heated debates regarding the oil and gas lawInformation / Baghdad..
A member of the Al-Fateh Alliance, Ali Al-Zubaidi, stressed, on Thursday, the need for the oil and gas law to be well prepared before it is presented in parliament, in order to avoid political tensions that may occur and impede the legislation of the law under the dome of the House of Representatives.
Al-Zubaidi told Al-Maalouma, “Parliament may be on the verge of heated discussions regarding the oil and gas law, especially since there are some objections that often occur when trying to introduce the law.”
He added, “The aforementioned law has been postponed for a long time as a result of the escalation of political differences around it, which necessitates preparing the law correctly so that it is fair to all and makes the center the main engine for this law by distributing wealth to everyone without prejudice to any province, whether in the region or outside it.”
And he indicated that “some oil fields outside the borders of the region have been controlled during the period of the terrorist ISIS, as tanks move from them to be sold for the benefit of the region and the family of Massoud Barzani in particular.”
Al-Zubaidi pointed out, “This matter requires a solution to this problem through the oil and gas law, so that the distribution of wealth to everyone is normal.”
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The Minister of Oil holds a meeting to discuss the draft oil and gas law
17/08/2023
The Minister of Oil holds a meeting to discuss the draft oil and gas lawToday, Thursday, the Ministry of Oil organized a meeting of the working group tasked with preparing the draft oil and gas law.
The meeting was chaired by the Ministry’s advisor for administrative, legal and oversight affairs, Hamdan Awijel, and the meeting included a number of officials in the oil companies and departments of the Ministry’s headquarters.
And the Ministry of Oil stated in a statement, NRT Arabia received a copy of it, that “the meeting aims to discuss the preparation of a draft oil and gas law, and to work on crystallizing a professional national vision that achieves the goals of optimal investment of oil wealth to serve the public interest.”
And the Prime Minister, Muhammad Shia Al-Sudani, had directed in early August to form a ministerial committee that would supervise the technical dialogues between the Federal Ministry of Oil and the Ministry of Natural Resources in the region, as well as inviting the governors of the oil-producing provinces of Basra, Maysan, Kirkuk and Dhi Qar. And the general managers of government oil companies for the ongoing technical dialogues regarding the draft oil and gas law, provided that these dialogues are followed by the completion of the political dialogue to agree to present the draft law.
Al-Mandalawi and Al-Sudani agree to expedite the implementation of the budget provisions
Mohsen Al-Mandalawi, the First Deputy Speaker of the House of Representatives, and the Prime Minister, Muhammad Shia’a Al-Sudani, have mutually agreed to accelerate the implementation of the tripartite budget items, with specific focus on service and strategic projects, as well as the procedures for their execution and monitoring.
Today, on Friday, Mandalawi’s media office issued a statement stating that this information was discussed during their meeting.
According to the statement, both parties emphasized the need for ongoing coordination between the legislative and executive branches. The goal is to speed up the creation of strong laws that benefit citizens and meet their needs. They also emphasized the importance of laws that promote economic and investment development, revive the industry, and create suitable job opportunities for young people.
Hanan Munther Nassif, Director General of the Iraqi Facts Department at the Ministry of Justice, recently announced the release of Instructions No. (1) for the year 2023. These instructions aim to simplify the implementation of the Federal General Budget Law of the Republic of Iraq for fiscal years (2023-2024-2025), as stated in No. (13) for the year 2023. The announcement was published in the Al-Waqi newspaper at the beginning of August.
The financial budget for the next three years (insert number_1) was voted on by the Iraqi parliament on June 12. The budget has a value of 198.9 trillion Iraqi dinars ($153 billion) each year.
