Tuesday, June 4, 2024

An economist confirms the possibility of Iraq entering the field of investment in oil derivatives, 5 JUNE

An economist confirms the possibility of Iraq entering the field of investment in oil derivatives

On Tuesday, the expert in economics Safwan Qusay confirmed the possibility of Iraq entering the market for investing in oil derivatives, delivering its derivatives to various nations around the world, and avoiding any changes in the price of oil worldwide.

Qusay told , “Iraq can possibly arrive at independence in fuel, particularly gas, and shift to putting resources into the administration of oil subsidiaries at the capacity level.”

“The shift to the aforementioned investment guarantees Iraq a realized revenue, so that in the event of a decline in global oil prices, Iraq can invest in the available stock of derivatives with the aim of not reflecting price fluctuations on import operations and thus ensuring that the oil products marketing company is not harmed,” he added.

He said, “Achieving self-sufficiency in fuel and the shift toward investment and export of derivatives requires the development of oil refineries and the establishment of new refineries that guarantee Iraq’s shift toward investment and export of derivatives.”


"RV UPDATE" BY MARKZ, 5 JUNE

  MarkZ  

 [via PDK] 

  Question:   ...is it true the Budget has nothing to do with the rate. It’s dependent on oil

  MarkZ:  Yes and no…in the budget they left a mechanism for a revaluation based on rates and oil production. ….They can do the budget without the rate change- does it make sense to do that? NO….because they have been running over a 30% deficit each year.

  I have been unable to find a complete copy of Iraq’s budget that was passed to look for a rate.  I do not think the new rate is in the budget that was passed …yet.  They have the mechanism for changing the rate in there though. So they can do that rate change at anytime...They are still showing the official rate of 1310…. 
 It happened like this in Kuwait also…that although they had started the RV process. Kuwait was still showing the official rate for awhile

Comment:  Maybe they are waiting to put the new rate in the Gazette- either Wed or Sat?   

MarkZ:  That is very possible.

Sudani suspends after approving 2024 budget schedules, 5 JUNE

 Sudani suspends after approving 2024 budget schedules

Baghdad Today - Baghdad

Prime Minister Mohamed Shia Al-Sudani expressed, on Monday (June 3, 2024), his thanks and gratitude to the House of Representatives for its efforts that resulted in the approval of the budget tables.

Al-Sudani said, according to a statement by his media office, received by "Baghdad Today": "With more appreciation and pride, we congratulate the responsible step of the esteemed House of Representatives, represented in approving the budget tables for the year 2024 , related to Law (13 of 2023), the law of the "Federal Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025).”

He added: "We express thanks and appreciation for the efforts of the Presidency of the House of Representatives, political forces, parliamentary committees, and the Finance Committee, which completed the government effort, and what was previously approved in the Council of Ministers, represented in the budget tables (A, B, C, D, E, and f). "

He continued: "We reaffirm the continuation of the implementation of the government program, which received the vote of the Council of Representatives and the support of political forces, in order to complete the goals and implement the priorities that represent, above all, the aspirations of our Iraqi people and their demands that the government wishes to fulfill."

He added: "On this occasion, we call on the House of Representatives and provincial councils to support the work of the government by following up on the legislative and oversight effort, which our government institutions with all their arms and bodies consider as a support for their work, an evaluation of the path, and a guarantee against corruption, deviation and failure, just as we pledged to our people that there is no place for procrastination, nor courtesy at the expense of people's interests, preserving public money, and implementing service in all its names."

"We ask the Almighty God Almighty for success and repayment to obtain His satisfaction, glory be to Him, and to obtain the satisfaction of our honorable people."

"RV UPDATE" BY JEFF. 5 JUNE

 Jeff  

  The budget got approved with the currency value at the Central Bank value of 1310 dinar per dollar.  That is not a rate change and no it can't just magically float up 1 to 1 in the way it sits right now.  Remember the budget is a law...Changing the currency value would be a revision to the budget law.  It would have to be amended somewhere during the term of the budget year or they'd have to wait till the next budget period to change the rate.  That's the scenario we're in as of right now...There are some disagreements with the budget.   We need to give those disagreements a few days to play out to see if they're going to...appeal the budget.

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I've seen quite a few different investors out there that are super excited that Iraq was going to be approving their budget within parliament Monday...That's a huge misunderstanding on your part if you're excited...The budgets are calculated off the value of the currency.  When a budget is implemented or while the budget is implemented the rate cannot

change...If this budget got approved Monday, the next time they could change the currency...rate, they would have to wait until mid-year (September or October) or a new budget period of 2025 (March to April)...Once this budget gets approved, that's the currency value that's locked in it...It can't be magically changed...It doesn't work that way.  

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The rate change is here...   Article: "Sudanese directs to hold an extraordinary session next Sunday to discuss the 2024 budget schedules"  The reason council of Ministers which normally meet on Tuesday are meeting on Sunday is they can only meet after the rate changes...They are reducing the deficit.  To reduce the deficit you have to reduce your expenses, cost and figures.  The only way they can do that is revaluing the currency...This step is contingent upon the rate change.  

 Article:   "Parliament expects the arrival of the 2024 budget schedules"  Quote "...There are efforts to guarantee the right of many segments in the items and schedules of the 2024 budget but they cannot be judged without waiting for the numbers they contain."

 The rate has to change before parliament can approve the amendments to this budget.  This is why I showed you the final countdown a few days ago because I knew this was coming forward and here it is for you...

Mid last week I posted  "The Final Countdown

  ...Here's the reason why right here...The approval of Iraq's budget is waiting on the rate change.  That's why it's been outstanding/ pending for 6 weeks.  This week we're entering into will be its seventh week.  In order for them to complete and approve, the budget is waiting for the rate to change ...You're seeing countless articles on this.  This is a critical piece to the timing of the rate change. 

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-jeff-1-may.html

The next big step in this is we want to see when Iraq will be amending their budget...They can amend it before or after the rate changes...

 This weekend coming up would be the historical anniversary date of when Kuwait reinstated their currency - March 24, 1991

 Iraq technically does not need to amend the budget if they're not changing their rate.  

The budget already covers their operating expenses.  But they would need surplus funds to cover the reforms.  The reforms are contingent upon the rate changing.  They can't bring these reform package forward if the rate does not change.  The only reason they're amending the budget is because the rate is changing...The step of amending the budget can happen either before or after the rate changes  ... They will probably announce Thursday or Friday as to when they plan to amend the budget, which they'll probably do around this weekend...

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-jeff-22-march.html

Nearly 80 trillion dinars disappear from the 2022 and 2023 budget.. Deputy: “No one knows where it went.”, 4 JUNE

 Nearly 80 trillion dinars disappear from the 2022 and 2023 budget.. Deputy: “No one knows where it went.”

Member of the Parliamentary Integrity Committee, Hadi Al-Salami, revealed today, Tuesday, that about 57 trillion Iraqi dinars remain from the 2023 budget, and no one knows where it went.

Al-Salami said, “The 2023 budget amounted to 206 trillion, the actual expenditure was 148 trillion, and the remaining 57 trillion. No one knows where that retained money went.”

He added, "There are 22 trillion in rounds in the 2022 budget as well, and no one knows where it went," noting that "there are problems and irregularities regarding the issue of actual revenues and actual expenses in the budget tables."

He explained, “The House of Representatives made many observations on the budget schedules that were passed without warning.”  link

The country’s currently involved in the First Private RV as we know for now FROM RVHIGHLIGHTS TELEGRAM ROOM, 4 JUNE

 RV HIGHLIGHTS

What is referred to as the First Basket: The country’s currently involved in the First Private RV as we know for now. All countries will eventually revalue their currencies.


__


1. USA

2. Afghanistan

3. Brazil

4. Canada

5. China

6. India

7. Indonesia

8. Iran

9. Iraq

10. Japan

11. Kuwait

12. Libya

13. Malaysia

14. Mexico

15. Qatar

16. Russia

17. Saudi Arabia

18. Turkey

19. U.K.

20. United Arab Emirates

21. Venezuela

22. Vietnam

23. Zimbabwe- currency

24. Hungary- Forint

Zimbabwe Bonds, Hungry- Pengo Bonds and Other Historical Bonds.

Al-Sudani: Iraq has many investment opportunities offered to international companies, 4 JUNE

 Al-Sudani: Iraq has many investment opportunities offered to international companies

Prime Minister Muhammad Shiaa Al-Sudani confirmed, today, Tuesday, that Iraq has many investment opportunities offered to international companies.

Al-Sudani’s media office said in a statement received by {Al-Furat News}, “The latter received the British Ambassador to Iraq, Stephen Hitchen, and during the meeting, they discussed bilateral relations between Iraq and the United Kingdom, and mechanisms for working to strengthen and expand them in various fields, in a way that achieves mutual benefit and interests.” shared between the two countries. 

The Prime Minister stressed that "Iraq has many investment opportunities presented to international companies, welcoming the participation of British institutions and companies in various sectors, especially the sectors of energy, industry, agriculture, and other vital sectors." link

"QFS CONVERSATION" WITH GOLDILOCKS, 4 JUNE

 GOLDILOCKS

"It was decided to stop the companies whose details are listed in the table below from entering the foreign currency buying and selling window" 


Iraq is narrowing down the list of companies they will be working with going forward in the buying and selling of their foreign currency. 


Many companies buy and sell foreign currencies from around the world. Some companies even go so far as to have some of their people travel to buy currencies from around the world such as Banknote World. 


The need for these entities are going away with the new digital banking system. The move to an electronic banking system will soon make these services obsolete after our exchange. 


© Goldilocks 


https://cbi.iq/news/view/2600 


https://www.banknoteworld.com/?gad_source=1&gclid=Cj0KCQjw0_WyBhDMARIsAL1Vz8vXNWxi15zrZId_WRU5Y4tza6dgyvwZL7aZhQToiMqLvy8dgmXV7d0aAoqiEALw_wcB


 ---

BREAKING NEWS


TURKEY SAYS BRICS COULD OFFER A GOOD ALTERNATIVE TO THE EUROPEAN UNION TO BOOST ITS ECONOMIC PROSPECTS


Awkward…


Read: https://x.com/goldtelegraph_/status/1797956229085774323?s=46

"PARLIAMENT IS UP AGAINST THE WALL.... THEY HAVE NO CHOICE BUT TO OBEY SUDANI OR BE LEFT BEHIND IN THE BUDGET!!!" BY FRANK26, 4 JUNE

 KTFA

 FRANK26: "PARLIAMENT IS UP AGAINST THE WALL.... THEY HAVE NO CHOICE BUT TO OBEY SUDANI OR BE LEFT BEHIND IN THE BUDGET!!!"..........F26 

urgent... The House of Representatives votes on the schedules of the Federal Budget Law No. 2024

 

6/3/2024

 The House of Representatives voted, in its session held today, Monday, on the schedules of the Federal General Budget Law No. 2024.
 

The House of Representatives decided to adjourn its session held today, Monday, after voting on the schedules of the federal general budget law and its annexes, schedules (A/B/C/D/E/F).

LINK

"RV UPDATE" BY TEXAS SNAKE, 4 JUNE

 TEXAS SNAKE

Texas Snake, [06/03/2024, 10:32:58 p. m.]:


Well it's about 0530 AM in country and the info I am receiving is that the new rates will appear either when the banks open today or they will wait for the FOREX opening on Wednesday to be able to publish the new rate in the Gazette Paper.


  Wish I had better intel but most of the UK is asleep now.


Not much reason to open as this is all I have at this time.

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  • Sun. 2 June 2024 Texas Snake: (Wolverine) was in line with what I was told. Buckle up everyone this is the week we’ve been waiting for.

Well folks as we have been told the ideal time for release would be over a Holiday weekend and the banker was hopeful that we would receive notification close to the Reno bank closing time tonight. 


That didn't happen unfortunately.  Have also received comments declaring I am just another Guru scamming you folks.  


Salty is a dear friend who provided this room for me and my ultimate goal is to make available some basic financial planning techniques to avoid you becoming like Lottery Winners and be broke within a year or two of getting paid,


  As a result I don't open very often but the banker is hopeful he will get notified as we progress further into this weekend.  Should I get notification I will surely share,  Happy Memorial Weekend and GOD Bless.


https://dinarevaluation.blogspot.com/2024/05/rv-update-by-texas-snake-25-may.html


Well folks was advised we would have positive indications today but now am being told it should come on the 24th which is this coming Friday which would give the banks time to deal with their Fridays and Mondays and begin to schedule appointments later into next week.  We can only hope that at some point these projections will be accurate.

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A second confirmation of the above post has been received today so please stay alert come Friday, GOD Bless y'al for staying with us thru all this.

--

Texas Snake, [05/22/2024, 10:04:11 p. m.]:

Yes


I have a suggestion to make if everyone could hold off comments until I can type it out.'


Comments being made about banks on Markz and what it could mean to your deposits


My suggestion once again is for each of you to open a brokerage account with a member firm of the NYSE as they insure uo to 500k on each account you open with them and then explore the Money Market


funds with No Load funding and reposition your b ank deposits into as many MMF's as needed to remain insured.


Texas Snake, [05/22/2024, 10:27:08 p. m.]:

I am going to watch the 4th quarter of the Dal Min playoff gamd so good night and GOD Bless everyone.


https://dinarevaluation.blogspot.com/2024/05/rv-update-by-texas-snake-24-may.html