Friday, October 25, 2024
MP: The 2025 budget cannot be passed without sending the final accounts for the past two years, 26 OCT
MP: The 2025 budget cannot be passed without sending the final accounts for the past two years
The Parliamentary Finance Committee announced the date for the arrival of the 2025 budget tables to the House of Representatives, which will be at the beginning of next year.
In turn, the Ministry of Finance indicated the possibility of collecting 3 trillion dinars per month during the coming period, and that the Finance Committee called on the government to enhance non-oil revenues and ensure the achievement of financial targets to avoid any economic imbalances.
In the same context, member of the Economy, Industry and Trade Committee Yasser Al-Husseini confirmed that it is not possible to approve the 2025 budget without obtaining final accounts for the previous budgets.
Al-Husseini told Iraq Observer that “it is not possible for the Council to approve any measure coming from the government,” noting that “the current government differs from previous governments because one of its most prominent goals is to improve the current economic reality by fighting corruption in any form and under any circumstances.
”
He added that "Parliament is waiting for the final accounts of the 2023 and 2024 budgets to be sent, after which the 2025 budget will be considered for approval," noting that "if a budget is submitted to the House of Representatives without the final accounts, this is considered an aspect of corruption, so the House of Representatives refuses to receive a budget without the final accounts tables for the past two years."
He continued that "the committee is closely following up on how the budget funds are distributed, to ensure that they are used effectively to serve citizens and enhance the national economy, and ways to increase government revenues by developing the tax and customs system will be discussed from time to time." link
TIDBITS FROM PIMPY, 26 OCT
Pimpy
Community Comment: "Iraq just got licensed for foreign currency exchange."
Back in 2004 they were licensed for this but there was a shitload of restrictions...A lot of those restrictions are being lifted.
This is really good news for the Iraqi dinar...
If being on the SWIFT system is the 'football game', this step right here is you're in the warmup before the game.
It's really good news. That's something Iraq needed.
They'll warm up a little bit with this...
This is going to bring a lot of liquidity into the country. What they're telling people is Iraq is getting ready to step in and start becoming a big player with the big dogs.
China's Rise in Iraq's Energy Sector: From Newcomer to Dominant Player, 25 OCT
China's Rise in Iraq's Energy Sector: From Newcomer to Dominant Player
While Iraqi leaders consistently emphasize the importance of Western investment in their energy sector, their actions instead are increasing Iraq’s dependence on Chinese markets and oil firms.
Executive Summary
Chinese energy companies emerged as dominant players in the Iraqi Oil Ministry’s May licensing rounds to auction 29 oil and gas blocks, securing 10 out of 13 oil and gas blocks. Shell was the only Western international oil company to participate, and it did not win any bids. Other Western and U.S. international oil companies showed no interest in bidding, despite improved fiscal terms of the contracts.
The resounding success of Chinese firms underscores a significant shift, solidifying Beijing’s already strong position in Iraq’s energy landscape and presenting a substantial challenge to Washington’s strategic position in the region.
The increasing Chinese dominance comes amid a seemingly contradictory development: In April, Iraqi Prime Minister Mohammed al-Sudani signed numerous memorandums of understanding with U.S. energy companies, particularly focusing on gas development and power generation. This focus aligns with Washington’s strategic goals of diminishing Iran’s political influence in Iraq and, by extension, blunting China’s push to dominate Iraq’s hydrocarbon sector.
The stark contrast between the memorandums of understanding signed by U.S. companies and the contracts awarded to China demonstrates a significant mismatch between the aspirations of Washington and the realities of the investment environment in Iraq. link
EXCERPTS FROM MARKZ, 25 OCT
EXCERPTS FROM MARKZ
Waiting to be sent.. Oil and Gas Law on the Government Discussion Table, 25 OCT
Member of the Parliamentary Oil, Gas and Resources Committee, Kazem Al-Tawki, confirmed today, Thursday, that the draft oil and gas law is awaiting approval within the Council of Ministers, indicating that the joint committees between the federal government and the regional government are continuing their work to decide on the law.
Al-Tawki told Al-Maalouma Agency, “There are controversial articles that hinder sending the draft oil and gas law to the House of Representatives,” noting that “the draft is still in the government’s possession.”
He added that "the oil and gas law is still on the government's discussion table," noting that "the relevant committees are continuing their meetings in the hope of reaching an agreement on the controversial articles."
He stressed that "there is a common vision between the governments of Baghdad and the region to complete the oil and gas law file and send it to the House of Representatives." link
"MAJOR ZIM BOND" FROM A HIGH CONTACT @ERA54321DORADA, 25 OCT
@Era54321Dorada
MAJOR ZIM BOND STING OP
From a high contact From my understanding, The controllers of the Redemption process have been activated by authorities and were made aware of the fact that there were and still are FOREIGN NATIONALS with Fake ZIM BONDS . They were sent “Notifications" deliberately by the WHs to lure them into coming to ZURICH /Europe so as to trap them. The WHs were successful. This won't delay things as it was planned FYI : there have been three sting operations in Zurich. Last week they arrested 73 more people. The previous month there had been over 300 arrests. Mostly Colombian and Venezuelan citizens with fake Zimbabwean Bonds. Many sellers have had their bonds confiscated by the "authorities" and ordered to leave the country within 24 hours. --_-- So many scoundrels out there Shame on the community. The cleanup must continue @Era54321DoradaBruce’s Big Call, 25 OCT
Bruce’s Big Call Dinar Intel Thursday Night 10-24-24 REPLAY LINK Intel Begins 1:13:50
Welcome everybody to the big call tonight, it is Thursday October 24th and you're listening to the big call. Thanks for tuning in all over the globe, we had over 18 million listeners on Tuesday nights call, and we'll see if we can get between 18 and 19 million listeners tonight in the total Thank you, sat team, satellite team, for getting our signal out so many people. And thank you everybody for tuning in yet again. Let's do this - before we go to a teaching tonight, let's go ahead and pray the call in. Let's go into where we are from an Intel point of view for the RV and so on. There's not a whole lot of Intel to bring out tonight, except I want to say that we had, we had it under very good opinion by several of our sources. And these are bank sources, redemption center sources, people that should be in the know, people that are getting a call from Treasury, blah, blah, blah, you know, these people are close as we can get to the truth about what's happening. Well, the consensus was we were going to be notified today. We had a time for today by 11 or so, central noon, Eastern 11, Central, etc, across the country. But we didn't get it today, and we were like, What? What happened? We don't really know exactly what happened, but we do know that we had a number, huge number of arrests that were going on in about 7 or 8 states to you know, today continued yesterday and today. And you know, Illinois around Chicago area was one. We had stuff in New York. We had Florida, we had the Oregon, Texas, you know, quite a few states really that had issues – they had problems. People needed to be picked up, and it was probably across the board, as far as who the people were, but that's happened. And somebody says, well, we heard there was going to be a false flag event by the deep state, and one of our sources said he didn't think that was possible anymore, that that wouldn't happen, and to our knowledge it didn't happen today, but we know that, you know, a lot of arrests are ongoing, and they'll probably be ongoing for another few months, maybe through the end of the year, and I don't know beyond that if there'll be anything or not, there could be - But we know we've got National Guard that's federalized to work and do things all over the country. And I'll tell you another thing, we’ve got military, Special Forces guys. And even where there's early voting, like in Georgia, there are, federalized National Guard in place and Special Forces guys. There's, there's all kinds of monitoring this year on the elections that should keep any voter fraud at an absolute minimum, or let's call it non existent. That was what they wanted to make sure it happened this election, so it wouldn't be like it was in 2020, So this time, and even today, there were nine, nine countries that tried to hack into the voting system in Georgia, unsuccessfully, by the way, they were not able to hack into the voting machines. And so this is good news. They know what countries, and I'm sure they'll find out who people were and go after them. So early voting if you are into that - go for it, it seems to be working very well. Now let's see what else we can talk about. Oh yeah, bond holders, we always bring that up, bond holders, and we know of some going in today to set up their quantum accounts with a couple of different banks and they were able to do that, and they were told they would have access to these funds in one or two days. And some have to go back in again tomorrow to do more paperwork or to leave more paperwork with the bank, but this is telling us that we should be there also in one or two days, 24 to 48 hours - So let’s take it a little further and say, first of all, the information that we're getting about our start in tier four is based on us being notified, not Thursday which is today, but Friday, which is tomorrow, And setting our appointments and exchanges over the weekend. We think could we be notified Saturday and go Saturday? , yeah, we could, - could we get notified tomorrow, Friday and start exchanges Saturday? Yes we can So we're just gonna follow this out day by day, or super close, we're going to get this this weekend. That's what we're getting from people that are, in the know, with Treasury, people that are helping get the RV put together. You know who some of those people are, because I mentioned them in the past. Everything is coming together - you know - were we held up for a day - I think we were - we were supposed to go today. Is it because of the continuing arrests? Maybe could be. Is it because of anything else, anything bigger, I don’t know of anything else for sure, but it could be – So this is the kind of thing we're just going to have to wait out and stay as patient as we've been for all these years, and stay with it. Stay with it and watch it come to fruition. Watch it manifest right in front of our eyes. That's what I'm looking forward to seeing. Absolutely the manifestation of it We've seen rates on the dinar, on forex, which is a very good rate, just a hair under 20, that is going to be the bank screen, front screen rate - so the redemption center rate should be higher than that. And I told you guys they are supposed to offer us the contract rate on dinar at the redemption center, and that's going to end up being over five times what it is on the bank screens . So that's a very good thing, and that's why I keep emphasizing if you want to get the toll free number, set your appointment for the redemption center and then go in for your appointment time. Not more than 20 minutes - excuse me, not more than 10 minutes. Don't show up into the parking lot but 10 minutes before your appointment is early enough – anymore than that you are too early - Some of you guys believe -Oh, if I'm not early, I’m late – nope – not true – not in this case – and you do not want to be 10 minutes late for your appointment, or you might get put to the back of the line and have to re call in and set a new appointment - So get there between five and 10 minutes before your appointment time, and you should be fine. Should be fine and dandy All right now, if there's anything else Intel wise that I can think of cause there is a little bit like we're just trying to track this just for……. if you're a bond holder and you’ve got some bonds - some sheet bonds, let them know that when you set up your appointment - they might have a way to ask you what currencies you have, and it might be dial one for Zim notes. Dial two for Iraqi dinar - dial three, etc. I'm not sure how that's going to work, but we know it's an automated calling system at the beginning, and then they're either going to give you another number to call or they'll reroute you on that call to the redemption center that's based on your zip code. Make sure you get all that down. You've got your zip code ready to go. You know your currencies. You know that you'll be able to enter this thing and get an appointment set in two minutes or less, and that's included speaking to the person at the redemption center with any short questions that you might have. You can't go on and on and on and talk about everything. Your job is to set up your appointment and get out – get in and get out. And they're trying to get this exchange, generally in thirty minutes or less – thirty minutes - to set up your quantum account, your new Wells Fargo account with your, with your debit and credit card for Wells -- do your little mini presentation – 3 to 5 minutes -- I don't think we're going to have 5 to 8 minutes – I think 3 to 5 - Just give them an overview, and then you want to leave a copy of your presentation with them. They'll scan that into the computer. They'll make sure there's not 2000 people with the same exact project. If they do, they'll let you know, and maybe you can coordinate with some of those people and do it that way. But I think really, let's just continue to believe and pray got this to happen between tomorrow, and the weekend -- I think that's really what we want to see happen, since we didn't get it today, Alright now, That’s what I wanted to say tonight, what I want to get out to you, and I think, guys, we are literally hours to a day or two away. At least that’s the last information we have today -I'm going to hold on that go with it and believe for it, and let's pray the call out and believe for everything that we've heard. All right, let's turn off the recording and everybody have a wonderful weekend - let's pay attention to our emails and see where they go.
HERE IS THE LIST OF CURRENCIES SUPPOSEDLY IN THE FIRST BASKET, 25 OCT
EXCERPTS FROM MARKZ
The Central Bank of Iraq decides to reduce interest to 5.5% in order to support economic growth, 25 OCT
The Central Bank of Iraq decides to reduce interest to 5.5% in order to support economic growth
10/25/2024
The Central Bank of Iraq decided to reduce the interest rate from 7.5% to 5.5%, after the inflation rate decreased in Iraq.
According to the Ministry of Planning, the inflation rate has fallen from 8% to less than 3%.
Deputy Governor of the Central Bank, Ammar Hamad, said, "Based on the monetary policy orientations to enhance access to targeted inflation rates in a manner that does not conflict with the expected economic growth rates, and is consistent with the policy of developing deposits and increasing credit rates aimed at targeting projects, the Board of Directors of the Central Bank decided to reduce the monetary policy rate to 5.5% instead of 7.5%."
He added that the securities, namely Islamic deposit certificates and traditional transfers, were reactivated according to an annual plan with two terms, 14 days with a return of 4% and 182 days with a return of 5.5%.
He stressed that the maximum investment limit does not exceed 50% of the total private sector deposits at the bank.
The Central Bank stressed that the bank's investment ceiling in a single auction does not exceed 500 billion dinars. LINK
RV UPDATE BY GEM FINCH, 25 OCT
GEM FINCH
What has been happening – we knew we really close to the time that we’d be there. And now everything we are hearing is pointing to this going right away- even this evening I received information that F&P
- the Farm Claims and Native American claims will be paid out tonight and tomorrow and hearing that happens and then we GO - the Bond Holders are going to receive their notifications at approximately the same time as us
- then they’ll put in their codes and they will have a pre-designated amount from a year ago for the first 60 days.
After we exchange and redeem the Zim the amount we have in the QFS we can move up to 1.6B into each LLC to last for 60 days and after that we can do whatever we need to do with what remains in the QFS. But 1.6B is Huge.
Then once that is in that master account and then we’ll be able to move it into whichever accounts you have and can have up to three different banks to hold accounts for you. Interest rates - that’s the amount that we are going to be paid in the bank accounts –
NOT THE QFS WHICH IS NON INTEREST BEARING. The Banks will pay us interesting we have the ability to gain between 5% - 8 and quarter percent – now if you have a load of Zim - the lower this rate will be. And if you are going to move millions and billions you don’t need a high interest rate
- so the less you have the more you’ll get APY Annual Per Year - 5 – 8 and ¼ % - so if you made 100 million on your whole exchange you might be able to even get more than the 8 and ¼% but they want us to go as many years as possible to see the full fruition of our projects, but don’t worry about the interest rate - it’s going to be fine and Bruce saying he’ll take his interest quarterly and make it a goal to invest in peoples lives and my projects.
What else – at least three separate sources have said we would GO notified and exchanged either Tuesday - Wednesday or Thursday and this is definitely the week – and this is a member of the new USNTreasury - so let’s take him at his word - now things are happening today and tonight including all those claims being paid overnight and that should not hold us up –
but with a few things going on overnight – we should be notified sometime and should be able to exchange either tomorrow or Thursday and Bruce is REALLY EXCITED about where we are NOW. Now Bruce isn’t the only one suggesting this – but Bruce believes this is a good assessment of where we are.
As far as the R&R is concerned thank you Jeannie – as Bruce mentioned last Thursday will be this month but he’s not sure exactly when – the increase in SS payment to 62 and older you’ll receive that in November.
The exact details of that you need to listen to the recording of the call. And it will be a very nice amount. Bruce excited about everything coming through with the Blessing for us - and also excited about people they are going to be working with post RV.
There are plenty of things to be done with many different states. So Rebuild America for Florida which has much to be done re-building. Donations and organizations we can work with - but please take the first few weeks to look after yourselves and do what you haven’t been able to do for so long now - and enjoy yourself. But do keep an eye on your emails for what we will be doing in the future.
If you want to know more about these projects please listen to the recording and apparently MedBeds are meant to be being made available this coming Saturday and once we’ve been through the MedBed – then we’ll be able to refer others and if we hold Zim we’ll be given priority and now Bruce is going on to talk about Sue and that Bundle.
Planning: Census operations will continue for two weeks starting from November 20, 25 oct
Planning: Census operations will continue for two weeks starting from November 20
10/25/2024
The Ministry of Planning confirmed today, Friday, that the date for conducting the census on November 20 is fixed and unchanged, while it indicated that its operations will continue for two weeks until December 3, 2024.
The ministry's spokesman, Abdul Zahra Al-Hindawi, said in a press statement, "The ministry has completed the requirements for conducting the population census," stressing that "the percentage of completion of the requirements for enumeration and numbering reached 96% in all governorates, except for the governorates of the Kurdistan Region, which reached 65%."
Al-Hindawi added, "The Ministry of Planning is anticipating the census as an event that has been absent from Iraq for 27 years, and has worked to provide all requirements for conducting the population census on 11/20-21/2024."
He added, "The population census project is huge and large and includes an inventory of everything above ground, including buildings, homes, and residential facilities," stressing, "the development of a comprehensive plan by the Ministry of Planning."
He explained that "the inventory and numbering process was preceded by aerial photo census operations for all buildings throughout Iraq," stressing that "the inventory and numbering operations witnessed the addition of 10% of buildings through aerial photos, which records the expansion of the construction and building movement in Iraq."
Al-Hindawi said, "The ministry has prepared 40,000 well-trained researchers to record population census data," stressing, "The process of training 80,000 enumerators has begun, so that the total number of researchers will be 120,000."
He stressed that "the census staff is capable of completing its tasks in the required manner," while he explained that "the census process is distributed to every 100 families by a researcher to record their basic data (number of individuals, gender, age)," stressing that "the announcement of the initial results includes the general census (number of females + number of males) and the population of each governorate."
He added, "The census process will continue until December 3, 2024. The counted family will be referred to record data (housing, health and education), and its results will be the end of the census." LINK
RV UPDATE BY REINALDO JC, 25 OCT
REINALDO JC
Iraq Dinar
Guys, the main source & the first place to look at when the Iraq Dinar rate changes is directly from the CBI website http://cbi.iq thereafter;
it’ll be on the forex officially for you to exchange your currency. #in2024
Economist Warns Of The Danger Of Currency Counterfeiting Mafias, 25 OCT
Economist Warns Of The Danger Of Currency Counterfeiting Mafias
Posted on 2024-10-25 by sotaliraq 2024/10/23 Mustafa Fleih Economic expert Safwan Qusay warned of the danger of currency counterfeiting mafias, and while explaining the mechanism to confront them, he stressed the need to move to financial inclusion to protect the Iraqi economy from these mafias, whether internal or external.
Qusay said in an interview that the process of investigating the source of the counterfeit dinar is backed by parties trying to harm the reputation of the Iraqi dinar and trying to launder dirty money and obtain goods in exchange for this money.
He pointed out that the Central Bank is keen to track such networks, and the security services are trying to reconsider any source that could enter Iraq from abroad or to print such counterfeit money inside it.
He stressed that the issue is related to the ability to develop a device to track the movement of the Iraqi dinar in the market and there is a “Serial Number” for each category of the currency and the process of transitioning to financial inclusion and introducing money into the banking system and Iraqis dealing with credit cards will prevent counterfeiters and counterfeiters of this currency from pumping the counterfeit category into the market.
He explained that the more quickly and immediately we switch to dealing with credit cards at the private sector level, given that the government apparatus in many ministries has begun to apply such technologies in credit cards, ATMs and revenue receipt cards, it can deprive anyone who thinks of counterfeiting or forgery from entering the Iraqi market.
He explained that when the value of the currency increases, the process of counterfeiting and forgery becomes economically fragmented, and the Iraqi dinar is now fully covered, and certainly a large part of the countries in the region have been harmed, and the fluctuations in their currency prices may lead to the emergence of such mafias that print this counterfeit currency outside Iraq and pump it into the local market. In addition to educating those who receive the dinar about its type, we need to have an investigation system linked to the Internet to detect counterfeit currency.
He stressed that the seller should not only refuse to receive the counterfeit currency, but also ask the holder of this counterfeit currency to know where he got it from so that the security services can investigate the source of this counterfeit currency mass, whether it is locally printed or internationally.
He pointed out that the Central Bank is keen to compensate the holder of the counterfeit dinar if he is unaware of such distinction, and the more we encourage citizens to report with financial rewards, the more we can reach the party behind the counterfeiting.
He added that counterfeiting tends towards the higher value, i.e. at the level of large denominations such as the large currency denominations of 50 thousand and 25 thousand, and we must encourage those who receive the Iraqi dinar to examine it and not only reject the counterfeit currency but also report the holder of this counterfeit currency to reach the perpetrator.
He noted that the dollar is counterfeited by international mafias and can be pumped into the informal market, so it is not detected by dealers, and dealers in the informal market may exploit it because they are unaware that there is a counterfeit dollar from countries that carry out counterfeiting at the international level.
He stressed the need to move towards financial inclusion to protect the Iraqi economy from these mafias, whether internal or external. LINK
Coffee with MarkZ. 10/25/2024
-
Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...