Wars, displacement, and sanctions have left Iraq’s economy underdeveloped and almost solely dependent on oil exports. But things have changed in Iraq and come this mid-year 2024 we are about to see the results of many years or reforms in an explosion of progress in many areas of development in Iraq. You see, all these reforms we all have been reading about in the many articles are all good but unless Iraq actually sees any impact they are meaningless.
Oh…but we are about to see the impact and it is going to be HUGE $$$.
Article Quote: “...Iraq will leave government cash dealing and switch to 100% electronic collection in mid-2024.” So, by reading today’s article on the surface it seems that Iraq would be doing away with all paper currency as they said “switch to 100% Electronic collection by mid-2024”. But I assure you this is NOT the case... it does NOT say they are doing way with cash altogether, as the Dr. Shabibi plan that I know and have been following very diligently does not indicate this either...this will be a huge milestone in the banking reform process...Iraq has been struggling to get the electronic payment process completed and now they are telling us it will be completed by mid-year 2024.WOW! WOW! WOW!
Natural resources in Iraq...a huge treasure neglected by an “official decision”!
3/24/2024
Economic researcher, Ziyad Al-Hashimi, confirmed that (mismanagement of natural resources) is one of the major problems that the Iraqi economy suffers from, as unfair government decisions deprived Iraq of huge billion-dollar revenues and global market shares.
Al-Hashemi said in a blog post on the “X” platform, followed by “ Jarida ”, that “(mismanagement of Iraq’s natural resources) and unfair government decisions have deprived Iraq of huge billion-dollar revenues and global market shares, as Iraq is ranked ninth in the world in terms of size.” It has natural resources within its territory, such as oil, natural gas, phosphate, sulfur, and other minerals.
He added, “Estimations indicate that the value of Iraqi natural resources reaches up to 16 trillion dollars, and this puts Iraq in a distinguished position among the countries of the world rich in natural resources, and despite these enormous wealth, there is official Iraqi negligence to invest in expanding exploration, extraction, production and export.” Many of these resources are natural, as the government’s focus is exclusively on oil.”
He explained, “For example, we find that there is deliberate neglect of the Iraqi phosphate sector (by official decision and for unknown reasons) despite Iraq’s possession of 9% of the global phosphate reserve, and phosphate exports can generate tens of billions of revenues annually for the Iraqi treasury.”
He stressed, “(Mismanagement of natural resources) is one of the major problems that the Iraqi economy suffers from, and it does not appear that there are any official Iraqi efforts to overcome the mistakes that caused billions in losses for this country and its economy, and until the Iraqi government wakes up from its slumber and begins to work diligently and effectively.” Iraq will continue to lose opportunities, shares, and money to other countries, which have greatly benefited from the absence of Iraq and its exports of natural resources from the global market. LINK
Article quote: "Salih summarized on Friday the benefits of Iraq's accession to the membership of the European Bank for Reconstruction and Development." It looks like Iraq is doing everything possible to join the international financial platforms. We need to wait and see how this will affect our ability to exchange our Iraqi dinar bank notes for US dollars.
There is absolutely no law against carrying large sums of cash...You can travel with as much money as you want.
However, there is a catch. If you are entering or leaving the Untied States with more than ten thousand dollars in cash or equivalent, you are required to report it to customs and border protection.
This rule applies whether the cash is in U.S. dollars or in a foreign currency...You need to complete a "FinCen 105 form"...
What happens if you don't report more than 10 thousand dollars in cash?Failure to report can lead to seizure of the money...You may also face criminal charges...Remember these rules...it's always better to be safe than sorry.]
Iraq has completed the necessary prerequisites to join the World Trade Organization WTO. This pivotal development reported by Gulf News marks new chapter in Iraq's economic journey...
Joining the WTO is not a mere formality, it necessitates a commitment to aligning with WTO rules by enhancing private sector performance and overhauling trade policies.... Membership in the WTO is a significant milestone for any country.
Adviser to the Prime Minister: Approving the 2024 budget schedules in the House of Representatives does not hinder their implementation
{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the House of Representatives’ approval of the financial budget schedules for the year 2024 does not hinder their implementation.
Saleh told {Al-Furat News} agency, “The federal tripartite general budget issued pursuant to Law No. 13 of 2023 differs from the annual budgets that are subject to Financial Management Law No. 6 of 2019, amended when the approval of its legislation was delayed, as the Federal Financial Management Law stipulates in one of its paragraphs, that In the event of a delay in approving the general budget law for the new fiscal year, disbursement will be made at a rate of 1/12 of the actual ongoing or current expenditures for the previous year.”
He stated, “The federal tripartite general budget issued pursuant to Law No. 13 of 2023 differs from the annual budgets that are subject to Financial Management Law No. 6 of 2019 amended when the approval of its legislation is delayed, as the Federal Financial Management Law stipulates in one of its paragraphs that in the event of a delay in approving the budget law General expenditure for the new fiscal year shall be made at a rate of 1/12 of the actual ongoing or ongoing expenses for the previous year.
Saleh explained, “Approving the general budget law for three years does not provide legal conditioning for the implementation of the effective administration law as long as the general budget has been enacted according to the law for three years. Therefore, I do not see that the financial tables prepared for approval by the House of Representatives constitute an obstacle to the progress of implementing the plan.”
Finance for the year 2024, in its operational and investment parts, and stopping the wheel of public finance, especially its investment part linked to development and economic prosperity, awaiting the approval of the amended budget schedules approved by the executive authority until it is approved by the House of Representatives, as if the matter requires new legislation that delays the purpose of adopting the three-year budget and the investment in time it entails. ". At the same time, he noted that “the tripartite budget experiment is a financial experiment taking place for the first time in our country. If its goal was and still is to stabilize the adoption and implementation of national development projects without delay related to the annual budget and its annual legislation, then the disruption of its implementation means a return to the annual budget square.”
Here, the fundamental difference must be made clear between implementing the budget that is enacted on an annual basis and the budget that is enacted on the basis of an average time frame, such as the tripartite general budget issued by Law 13 of 2023.”
Sulaymaniyah...a paralyzed life "in work and money" and 20 additional departments will join the strike tomorrow - urgent
Today, Sunday (March 24, 2024), 21 government departments went on strike due to the delay in disbursing employees’ salaries in Kurdistan for the month of February.
The streets of Sulaymaniyah witnessed a complete absence of traffic police, causing problems at a number of major intersections, especially those without a traffic light.
Tomorrow, the strike will expand to include more than 40 districts in Sulaymaniyah, Halabja, Rania, Garmian, Qalaat Diza, Sayyid Sadiq, Darbandikhan and other areas.
Dana Zangana, a member of the Protest Committee in Sulaymaniyah, said in an interview with “Baghdad Today” that, “Tomorrow, educational staff, lecturers, and employees will demonstrate, and the strike will continue, and the demonstration may turn into an open sit-in.”He added, "The demonstration aims to convey a message to the federal government that we do not want to settle our salaries except in federal banks exclusively, and we reject the My Account project affiliated with the regional government banks."
The markets of Sulaymaniyah are witnessing an unprecedented recession and a complete absence of preparations to receive the blessed Eid al-Fitr, as the city was crowded with thousands of families who went to the markets on the nights of Ramadan to shop and prepare for the blessed holiday, due to the lack of financial liquidity among the driving segment of the economy in the market, who are the employees. link
MarkZ and Michael Cottrell Friday Morning Chat 03/22/2024
Member: Good Friday morning... Praying for some action this weekend.
Member: It's about time for a real announcement to bring this show to a close!
Member: I wonder if all we are waiting for is the United States.
MZ: The exit from Iraq has been calm, but there are many expectations. Last night I lost another source of bondholders because they said they were going to stay quiet. It's not an official confidentiality agreement... but they believe their payment is pending and have stayed silent to be sure.
MZ: There is a movement of what I call a “massive whale,” which is between a whale, a payer, and a group leader. They asked him to pack his bags and get to Reno. I think it's a positive sign.
MZ: There have been a lot of travel requests in the last day to head west.
Member: I don't understand why they would have to go to Reno to get paid.
Member: Nowadays and in the digital age, it's a little strange.
MZ: “36 countries apply to join the BRICS alliance in 2024” These are developing countries, countries rich in raw materials. This is great news, as the BRICS are gaining enormous strength.
MZ: “Country Garden and Vanke will expose the extent of China's real estate crisis” This is from Bloomberg.
-Member: Wolvie said that agricultural claims are being paid. I also saw another post from a person who started receiving their Farm Claim funds.!!!!
MZ: I know several people who make original agricultural claims... and they have not told me that they have received anything. I've seen some talk about Pigsford farm claims (?)... but I'm waiting for one of the original FC people to get paid. Then I will be more than excited.
Member: Wolvie also said Chinese elders want it finished by Easter
Member: I heard a rumor that things could start when Sudani returns to Iraq after a meeting in the US.
MZ: We're still looking into when Sudani will be in the US and any details... Nothing yet.
Member: History of the Bank. 3 international bank transfers in 2024 took 5 days to confirm. This week sent confirmation on Monday received on Tuesday. whats???
-Member: Wealth Manager at the JP Morgan Chase branch in Houston, Texas. You've heard about the RV and you know the chase is part of it. I didn't have any news but I knew. .
Member: What is the difference between historical bonds and zim bonds?
Member: The historical bonds are: Yellow Dragon Bonds, Chinese Railway Bonds, bonds purchased a long time ago. The Zim bond must be 2008 or 2009, series Aa or AB, and say "pay to bearer" on them.
Member: Thank you all for the encouragement. Pray that something big will happen this weekend…something real.
Member: Come on, RV... the world is ready for you.
Member: Stay positive, the best is yet to come!
TRANSLATION IN SPANISH:
MarkZ y Michael Cottrell Charla del viernes por la mañana 22/03/2024
Miembro: Buen viernes por la mañana... Orando por algo de acción este fin de semana.
Miembro: ¡Ya serÃa hora de un anuncio real para llevar este programa al final!
Miembro: Me pregunto si lo único que estamos esperando es a Estados Unidos.
MZ: La salida de Irak ha sido tranquila, pero hay muchas expectativas. Anoche perdà otra fuente de tenedores de bonos porque dijeron que se iban a quedar callados. No es un acuerdo de confidencialidad oficial... pero creen que su pago está pendiente y se han mantenido en silencio para estar seguros.
MZ: Hay un movimiento de lo que yo llamo una “ballena masiva”, que está entre una ballena, un pagador y un lÃder de grupo. Le pidieron que hiciera las maletas y llegara a Reno. Creo que es una señal positiva.
MZ: Ha habido muchas solicitudes de viaje en el último dÃa para dirigirse al oeste.
Miembro: Hoy en dÃa y en la era digital, es un poco extraño.
MZ: “36 paÃses solicitan unirse a la alianza BRICS en 2024” Estos son paÃses en desarrollo, paÃses ricos en materias primas. Esta es una gran noticia, ya que los BRICS están ganando enorme fuerza.
MZ: “Country Garden y Vanke expondrán el alcance de la crisis inmobiliaria de China” Esto es de Bloomberg.
MZ: TodavÃa estamos buscando cuándo estará Sudani en los EE. UU. y cualquier detalle... Nada todavÃa.
Miembro: Historia del Banco. 3 transferencias bancarias internacionales en 2024 tardaron 5 dÃas en confirmarse. Esta semana envió el lunes confirmación recibida el martes. qfs???
-Miembro: Gerente de patrimonio en la sucursal de JP Morgan Chase en Houston, Texas. Ha oÃdo hablar de la casa rodante y sabe que la persecución es parte de ella. No tenÃa ninguna noticia pero lo sabÃa. .
Miembro: ¿Cuál es la diferencia entre bonos históricos y bonos zim?
Miembro: Los bonos históricos son: Bonos del Dragón Amarillo, Bonos de Ferrocarriles Chinos, bonos comprados hace mucho tiempo. El bono Zim debe ser 2008 o 2009, serie Aa o AB, y decir "pagar al portador" en ellos.
Miembro: Gracias a todos por el ánimo. Ore que algo grande suceda este fin de semana… algo real.
Miembro: Vamos, RV... el mundo está listo para ti.
"On 26 February 2024, the European Council adopted a new regulation, the Instant Payments Regulation. This will make instant payments in euro fully available to consumers and businesses in the EU and in EEA countries."
While Global Digital Payment Systems are moving to T+1 settlements, Europe is pressing their banking system to move to instant settlements. What Europe learns from being a first mover on the markets in instance settlements will help them formulate their Global CRYPTO Regulations (MICA). Our Tokenized Assets are continuing to interface with other Digital Global Assets around the world through Protocol 20. At the same time, we are witnessing the birth of a new regulated payment system moving towards instant payments. Europe has already confirmed that their new instant payments regulation will go into effect on April 8th, 2024, and Ripple is a part of it.
A Wolf in Sheep’s Clothing: The Secret CBDC Agenda Behind Tokenizing All Financial Assets
On March 22, 2024 By Awake-In-3D
Financial revolution or regression? The covert push towards a Central Bank Digital Currency through centralized asset tokenization.
In case you missed it, during a conversation with Bloomberg on January 4th, 2024, Larry Fink, the CEO of BlackRock, cast a spotlight on what he perceives as the inevitable future of finance: the tokenization of all financial assets.
We believe the next step forward will be the tokenization of financial assets, meaning that every stock and bond will have its own unique identifier and be recorded onto one general ledger. Every investor, including you and me, will have our own number or identification. Larry Fink, CEO BlackRock
With conviction, Fink outlined a future where every stock and bond not only boasts its own unique CUSIP identifier but also finds a place on a unified digital ledger.
Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews Follow me on Twitter: @Real_AwakeIn3D
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Al-Abadi: Al-Sudani’s visit to Washington is in the interest of Iraq
The head of the Victory Coalition, Haider al-Abadi, stressed the importance of the visit of Prime Minister Muhammad Shia al-Sudani to Washington in the middle of next month at the invitation of US President Joe Biden.
Al-Abadi said in a {special interview} on Al-Furat satellite channel: “The Prime Minister’s visit to Washington is in the interest of Iraq,” stressing “the necessity of reorganizing the relationship with the international coalition.”
Regarding the Kurdistan Democratic Party’s announcement of its boycott of the Kurdistan Regional Parliament elections next June due to its objection to the decisions of the Federal Supreme Court, Al-Abadi said, “The party’s positions must be clear regarding the decision to boycott the elections,” stressing that “
the party’s withdrawal from the elections does not hinder them in the region from a formal standpoint, but Can a Democrat abandon the regional government?
Regarding the position of presidency of the House of Representatives remaining vacant, Al-Abadi affirmed, “This obstruction is not correct,” indicating that “the dispute is confined to the Sunni political forces, and we tend toward the option of deciding the position within the House of Representatives, and it does not necessarily belong to the largest Sunni bloc.” He added, "A large majority of representatives may vote in favor of candidate Salem Al-Issawi."
Al-Abadi said, "The United Nations Mission in Iraq (UNAMI) is not strong and is not a decision-maker, but closing UN and international missions is not a good thing, and the Iraqi government is not moving toward that. link
Judy Note: There was no news on the status of the GCR and redemption process since Bruce’s call on Thurs. night 21 March. At that time we were told that President Trump would make two announcements on
Fri. 22 March and they would be followed by Tier4b receiving notification on how to set redemption appointments.
We have been told that Tier4b (us, the Internet Group who hold foreign currencies and Zim Bonds) redemption and exchanges would start before next Sun. 24 March. The General Public was supposed to start on Tues. 2 April 2024. Some Super Whales were funded out two months ago. Other Whales were finishing up being notified and funded right now. None have access to their funds yet, and won’t until Tier4b goes.
Finance Minister Stresses The Importance Of Partnership With The European Bank To Diversify The Sources Of The Economy
Earth News / Minister of Finance Taif Sami Mohammed stressed the importance of partnership with the European Bank to support the Iraqi government's plan to diversify the sources of the national economy.
According to a statement by the Ministry of Finance received by Earth News, "Minister of Finance Taif Sami Mohammed, met with the President of the European Bank for Reconstruction and Development (EBRD) Odile Renault-Basso, at the Bank's headquarters in the United Kingdom, and the Minister of Finance began her meeting with the President of the European Bank for Reconstruction by referring to the strategic partnership between Iraq and the Bank, and discussing ways to strengthen bilateral relations to ensure the possibility of strengthening the private sector in Iraq and digitizing the banking system."
The Minister of Finance stressed "the importance of partnership with the European Bank to support the Iraqi government's plan to diversify the sources of the national economy," noting that "the priorities of the Iraqi government are investment in the fields of energy and digital transformation in financial infrastructure."
For her part, Odile stressed "the bank's desire to work in Iraq and contribute to supporting the private sector and renewable energy."
Community Comment "Pimpy needs to understand outside investors of Iraq have absolutely nothing to do with project to delete the zeros. Our 25,000 note will be 25,000 note in America." I'm guessing you think that if they re-denominate the currency inside of Iraq and they change the exchange rate to $0.76, I guess you thought we could take the old currency and exchange it for the current exchange rate. That's not going to happen. I'm telling you right now that's not going to happen...
25,000 dinar would be equivalent to the 25 dinar...What Iraq does in country to its currency affects the currency worldwide..
Article: "Iraq's accession to the European Bank for reconstruction and development" This is another step for Iraq to start working with the International community. This shows outside investors how serious Iraq is of getting back on track.
Parliament finances confirm high size of 2024 budget. What are the reasons for the delay in sending it?
Economy News - Baghdad
The Parliamentary Finance Committee confirmed on Saturday the increase in the size of the federal budget to 207 trillion dinars, explaining the reasons for the delay in the arrival of the general federal budget tables to the House of Representatives for approval.
Mueen al-Kadhimi, a member of the parliamentary finance committee, commented on the issue by saying that the delay occurred at the Prime Minister's Office or by the Office of the Advisory Committee.
Al-Kazemi explained that "the ministries of finance and planning have completed their work regarding the budget tables, as the amendments were supposed to be sent before the end of 2023."
"If the amendments are sent, the House Finance Committee will review them and then present them to the House for approval," he said.
He pointed out that "the approved budget is a tripartite budget for the years 2023, 2024 and 2025, and it is natural that amendments will be made by the government to some figures that it deems necessary," noting that "the amendments led to an increase in the size of the budget from 199 trillion dinars to 207 trillion Iraqi dinars."
Earlier in the day, the Legal Committee announced that the 2024 fiscal budget tables were imminent to reach the House of Representatives.
The Ministry of Finance announced on the thirteenth of March the completion of data related to the 2024 budget tables, the inclusion of texts and their submission to the Council of Ministers
When this blessing occurs don't run to the bank. Don't trip over yourself and others. Walk. Take your time. Learn. Look. Ask questions. Learn from other's mistakes. That's what a wise person does.
Don't run to the bank. Take your time and understand exactly what you're doing. [NOTE: Be sure you're on the Dinar Guru Official Alert list. You'll get the good bad and ugly of exchange. Enter your name and email in the blue box at the top of this page...it's free.]
The only thing we're waiting for is the new exchange rate. The HCL is waiting for the new exchange rate.
Iraq is ninth in the world in natural resource reserves.. Russia is first and America is second
Iraq was ranked among the top ten countries possessing the most valuable natural resource reserves, in terms of total estimated value for the past 3 years.
According to the Statista website, natural resources are the raw inputs used to make everything that is used, from intermediate goods to final products, and these resources are found in the ground among reserves that have not yet been extracted.
According to Statista estimates, Russia came in first place, with the value of its natural resource reserves amounting to $75 trillion. This amount includes coal, oil, natural gas, gold, timber, and rare earth minerals.
The United States came second, and the estimated value of its natural resources is estimated at about 45 trillion dollars, approximately 90% of which is wood and coal.
Iraq ranked ninth, as it possesses $15.9 trillion in natural resources, and its desert terrain contains oil, natural gas, phosphate and sulfur, according to the site.
Iraq is the second largest producer of crude oil in OPEC, ranks fifth in the world in possessing proven crude oil reserves, and relies on the export of crude oil to obtain a large amount of its revenues. link
Article "Statement from Press Secretary Karine Jean-Pierre on the Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House" Quote "On April 15, President Joe Biden will welcome Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House to coordinate on common priorities and reinforce the strong bilateral partnership between the United States and Iraq."
Article: "Al-Sudani intends to visit Washington to lift the ban on banks prohibited from dealing in dollars"
Quote: "The head of the Iraqi Securities Commission, Faisal Al-Haimas, announced that three Iraqi banks were sanctioned by the US Treasury, and 25 banks were banned from dealing in dollars ;."
Article: "The Central Bank announces an understanding with the US Treasury to reconsider sanctions and indicates 'illegal trade' "