MILITIAMAN CC HIGHLIGHTS NOTES, 9 FEB

 MILITIAMAN CC HIGHLIGHTS NOTES

Highlights

Summary

In this lively Friday night video, the host discusses various significant updates regarding Iraq’s economic landscape, showcasing a mix of optimism and ongoing challenges.

 The conversation begins with a personal touch, highlighting the beauty of a snowy day and enjoying a cup of Freedom Forged coffee, while encouraging viewers to engage with the channel. The host delves into recent developments in Iraq, touching upon the meeting between Al Hakim and Prime Minister Al Sudani, which is set against the backdrop of the U.S. administration’s decisions regarding Iraq’s gas imports from Iran. 

There is a strong emphasis on Iraq’s financial reforms and the importance of diversifying revenue streams beyond oil, with a spotlight on the capabilities of Finance Minister T. Sami. The discussion also includes the Iraqi Commercial Bank’s recent accolades, discussions with international partners like the World Bank and Germany’s cooperation, and a focus on improving the lives of Iraqi citizens through better financial management and services. The host expresses a sense of hope and potential for Iraq’s economic future, while also acknowledging the complexities involved in moving away from a rentier economy.

• ☕ Freedom Forged Coffee: The host promotes Freedom Forged coffee, offering a discount code for viewers, setting a cozy tone for the discussion.
• 🇮🇶 Iraq’s Financial Reforms: Emphasis on the commitment to implementing financial reforms aimed at boosting non-oil revenues and improving citizens’ lives.
• 🏦 Awards for Banking Excellence: The Iraqi Commercial Bank is recognized as the best commercial bank in Iraq for 2024, showcasing improvements in financial performance.
• ⛴️ Increase in Goods Importation: A notable influx of 14 ships into Iraqi ports signals growing trade activity and economic engagement.
• 🔍 World Bank Collaboration: The Iraqi government seeks to strengthen partnerships with the World Bank to ensure sustainable economic development and transparency.
• ⚡ Energy Dependency on Iran: Prime Minister Al Sudani calls for continued U.S. exemptions on Iranian gas imports, highlighting the importance of energy for Iraq’s development projects.
• 📈 Potential Economic Growth: The host expresses optimism about Iraq’s future economic trajectory, contingent on successful reforms and international cooperation.

Key Insights

• ☕ The Importance of Community Engagement: The host’s invitation to viewers to engage with the content through likes and subscriptions illustrates the growing role of community in content creation. Building a supportive community enhances the channel’s credibility and fosters a sense of belonging among viewers. This trend underscores the significance of audience interaction in modern digital content, emphasizing that creators thrive on feedback and engagement.

• 🇮🇶 Iraq’s Shift Towards Financial Independence: The discussion around Iraq’s commitment to diversifying its revenue streams highlights a significant shift from being solely reliant on oil exports. Finance Minister T. Sami’s proactive measures to implement reforms and attract international investment reveal a strategic pivot towards sustainable economic independence. This change is crucial for Iraq, as it seeks to stabilize its economy amidst fluctuating oil prices and geopolitical uncertainties.

• 🏦 Recognition of Financial Institutions: The accolades received by the Iraqi Commercial Bank are indicative of progress in the banking sector. These awards not only validate the bank’s efforts but also enhance investor confidence in Iraq’s financial institutions. By showcasing improvements in financial performance and innovation, the bank positions itself as a key player in Iraq’s economic resurgence, paving the way for further international partnerships.

• ⛴️ Trade as an Economic Indicator: The influx of 14 ships into Iraqi ports serves as a critical economic indicator, reflecting increased trade activity and potential growth. This development signifies that Iraq is not only improving its logistical capabilities but also enhancing its appeal as a trade partner in the region. Such positive signs may lead to greater foreign investment and economic diversification, propelling the country towards stability.

• 🔍 Focus on Human Capital Development: The collaboration with the World Bank emphasizes Iraq’s commitment to improving social infrastructure and human capital. By prioritizing areas such as education and social services, the Iraqi government aims to uplift its citizens, aligning with the broader goal of sustainable development. This focus on human capital is essential for long-term economic growth and stability.

• ⚡ Balancing Energy Needs: Prime Minister Al Sudani’s request for continued exemptions from U.S. sanctions on Iranian gas imports underscores the delicate balance Iraq must maintain in its energy sector. While seeking to develop its energy infrastructure, Iraq’s reliance on Iranian gas highlights the complexities of regional politics and energy security. This dependency may hinder Iraq’s ability to fully realize its economic potential unless alternative energy sources are developed.

• 📈 Optimism in Economic Prospects: The host’s overall tone of optimism regarding Iraq’s economic future reflects a broader sentiment among analysts who observe ongoing reforms and international engagement. As Iraq navigates its way through these changes, the potential for growth and stability appears promising, contingent upon the effective implementation of reforms and a commitment to transparency and accountability. This hopeful outlook is vital for fostering confidence among domestic and international stakeholders.

In conclusion, the video encapsulates a wide array of topics relating to Iraq’s economic landscape, highlighting both achievements and challenges. From banking improvements and increased trade activity to the importance of international partnerships and energy security, the host emphasizes a multifaceted approach toward economic reform and development. The insights provided paint a comprehensive picture of Iraq’s potential trajectory, underscoring the critical interplay between governance, community engagement, and economic sustainability.

CRYPTO TRADER: it would be prudent for such a huge investment deal to be signed post the revaluation

 

Economic experts warn of dire consequences as US eyes sanctions on Iraqi bank, 9 FEB

 Economic experts warn of dire consequences as US eyes sanctions on Iraqi bank

Shafaq News/ A call by US Republican Congressman Joe Wilson to impose sanctions on Iraq’s state-owned Rafidain Bank has sparked concerns among financial and banking experts over potential repercussions for the country’s banking sector.

Wilson claimed in a post on X on Jan. 30 that “under Biden and Brett McGurk, the US treasury allowed Rafidain Bank, the largest in Iraq, to become the money laundering machine for the Iranian regime and its puppets to obtain US$,” stressing that sanctions must be imposed on the bank, and that “Trump will fix it.”

Experts warn that such sanctions could lead to a shortage of US dollars in Iraq, push up exchange rates, and isolate the country from the global financial system. The worst-case scenario, they say, would be severe and comprehensive measures that could disrupt salary payments and development projects.

"If sanctions are imposed on Iraq’s banking system, the impact would be significant and far-reaching," said Nawar Al-Saadi, professor of international economics. "Iraq relies heavily on the US financial system for international transactions, including transfers and reserves held at the US Federal Reserve. Any restrictions could create a liquidity crisis, drive demand for dollars on the black market, and lead to a sharp depreciation of the Iraqi dinar."

Al-Saadi told Shafaq News Agency that sanctions targeting Rafidain Bank or other institutions handling foreign reserves would complicate financial transfers, affecting both foreign trade and remittances from Iraqis abroad. "This would harm the private sector, which depends on imports, forcing Iraqi businesses to seek costlier and less efficient alternatives, such as intermediaries or informal financial networks," he added.

Moreover, Al-Saadi highlighted potential political consequences because, according to him, the sanctions would strain US-Iraq relations and could push Baghdad to explore alternatives outside Washington’s influence, such as increased dealings with China or Russia. However, “shifting away from the Western financial system is neither easy nor swift, given Iraq’s deep economic ties with it," he said.

In a worst-case scenario, severe and comprehensive sanctions could trigger an economic crisis, making it difficult for the government to fund salaries and infrastructure projects, leading to higher unemployment and declining foreign investment, he warned. "This could escalate into broader security and political instability."

Al-Saadi suggested that partial or targeted sanctions could limit the impact but still send a message that Iraq must reassess its financial dealings, particularly regarding its ties with Iran. "Regardless of their scope, sanctions would compel Iraq to rethink its financial policies and consider reforms to reduce its dependence on US-controlled financial channels," he said.

Wilson has previously criticized the Biden administration for its handling of Iraq and Iran, arguing that Iraq continues to send $10 billion annually to Iran for oil and electricity purchases due to a US waiver. He called for the waiver’s revocation, asserting that Iraq should source energy from the Arab world instead.

EXCERPTS FROM MARKZ, 9 FEB

 EXCERPTS FROM MARKZ

MZ: I have had so many messages from bank personnel today that have told they are working tomorrow. These are lower level, mid level,

 teller level who have no idea what’s going on but have been called into work this weekend.  Could it have something to do with updates or a change in bank systems?

MZ: Or does it have something to do with the Fed migration? 

“ Preparing for the Fedwire migration to ISO20022 in March 2025” 

This is the full migration on the Us banking system to ISO20022 …maybe it has something to do with that? I don’t know. But it’s interesting that I got it from many bank sources.

MARKZ: THEY ARE TESTING THE DINAR ON FOREX! @DINARREVALUATION #iraqidinarinvestor

 

Iraq revives 35 wells in Kirkuk to boost output, 9 FEB

 Iraq revives 35 wells in Kirkuk to boost output

Shafaq News/ Iraq has resumed production from 35 oil wells in Kirkuk Province as part of an output enhancement campaign, a source at the North Oil Company (NOC) said on Saturday.

NOC Director General Amer Khalil Ahmed met with technical and engineering teams at the Sarlu and Sarbashakh stations—part of the Kirkuk oil field—to review production operations and the company's plan to increase output, the source told Shafaq News.

"The company’s engineering and technical teams launched a well reactivation and production enhancement campaign, successfully reviving 17 wells in Bai Hassan oil field, 7 in Kirkuk field, and one in Jambur field—wells that had been inactive for a long time. They also reactivated Kirkuk Well 361, perforated Kirkuk Well 344 in Sarbashakh, and are evaluating several other wells in the area," the source added.

NOC, according to our source, is reportedly set to work this week on Kirkuk Wells 234, 329, 328, 327, and 341 in the Sarlu and Sarbashakh, along with Bai Hassan Wells 49, 161, 164, and 184 in the Kathka and Dawood Karka areas, and Kirkuk Well 257 in the Shoraw area.

“The company's current production is approximately 330,000 barrels per day (bpd), with most allocated for refining, while around 10,000 bpd are exported to Jordan,” he affirmed. 

In January, the NOC launched field development projects to enhance production in its Kirkuk fields. Technical and engineering teams successfully restored 20 wells in the Jambur field that had been inactive for years, adding around 10,000 bpd to output.

TIDBIT FROM FRANK26, 9 FEB

  Frank26   

 [Iraq] has the potential to come out at a ridiculous exchange rate just like Kuwait did 30 years ago when they went through a re-denomination and a revaluation of their currency...about $15. 

 But it only lasted for about a week and it went back down to 3 to 1...IMO it was a window created for the whales and sharks to take advantage of...Iraq has learned from Kuwait mistakes. 

 If you come out at a high rate like that...you destroy everything you worked to create the security and stability of their currency.  And it would destroy their economy, GDP, economic reform, monetary reform. 

 Inflation would go up.  I don't think we're going to see a ridiculous rate at the onset.  But I think we'll see the same rate that is floating in the Middle East which holds the most powerful currencies in the world at 3 to 1 to the dollar.

FRANK26: The laws are in place to expose the new exchange rate in the 2025 budget! @DINARREVALUATION

 

Al-Sudani Affirms Support for Strengthening and Enhancing Internal Audit as Part of the Anti-Corruption Strategy, 8 FEB

 Al-Sudani Affirms Support for Strengthening and Enhancing Internal Audit as Part of the Anti-Corruption Strategy

Prime Minister Mohammed S. Al-Sudani sponsored today the Internal Audit Conference organized by the Federal Board of Supreme Audit under the theme: “Internal Audit is the First Line of Defense Against Corruption and a Pillar of Transparency.”
 
The media office of the prime minister stated in a statement, received by The Iraqi News Agency-INA“ In his speech, Prime Minister Al-Sudani emphasized that the conference seeks to strengthen internal audit mechanisms and reinforce transparency. This aligns with the government program’s primary objective of combating corruption, a fundamental measure for restoring public trust in governance and the political system as a whole. He highlighted the critical role of internal audit as a corrective mechanism that ensures institutional integrity and prevents the misuse of public funds, clarifying that internal audit should not be viewed as bureaucratic obstruction but as a transparent and ethical process that upholds the spirit and objectives of the law before implementing its technical provisions”.
 
The statement added,” Prime Minister Al-Sudani reaffirmed that the statement issued by the Supreme Religious Authority in November of the previous year underscored the government’s unwavering commitment to prioritizing anti-corruption efforts. He emphasized that deviating from this path would impact the fulfillment of other obligations, including combating unemployment, creating job opportunities, advancing economic reforms, and improving public services”.
 
Key Highlights from Prime Minister Al-Sudani’s Speech at the Conference:
 
Internal audit is the first line of defense against corruption, safeguarding government institutions and ensuring their integrity.
 
A total of 12 trillion Iraqi dinars was allocated for service projects across ministries and provinces in 2024.
 
The achievements of the past two years have given citizens hope, strengthened their trust in the state, and fostered optimism that the country is on the right path.
 
Corruption has become like a mutating virus, adapting itself to the measures taken by audit authorities.
 
The government has implemented decisive anti-corruption measures with full transparency, legal clarity, and adherence to the rule of law.
 
Supporting and enhancing internal audit has been placed at the core of the government’s anti-corruption strategy.
 
Internal audit departments have been elevated to the level of general directorates to strengthen their role in combating corruption.
 
Legislative efforts are underway to establish a legal framework for internal audit directorates, under Article 108 of the Constitution, ensuring their operational independence.
 
The government has supported the recommendations from the First Anti-Corruption Conference, particularly those focused on enhancing internal audit departments with human resources and specialized expertise.
 
Regular performance evaluations of senior officials are essential to ensure the effectiveness and efficiency of government institutions and to prevent corruption.
 
We have directed authorities to expedite the resolution of reports, complaints, and criminal cases within the legally prescribed timeframes.
Emphasis has been placed on prioritizing high-profile corruption cases, including those involving significant amounts of public funds and senior government officials, to ensure legal accountability.
 
Strengthening trust in accountability measures is essential to establishing public confidence in the justice system and ensuring effective deterrence.
 
The government is committed to fostering a societal culture of integrity, ensuring that corruption is isolated and rejected within communities.
 
Every effort that has uncovered even minor details of corruption has led to the recovery of significant sums of stolen public funds.
 
The extradition of fugitives and the recovery of stolen assets have become key priorities in Iraq’s international engagements.

CRYPTO TRADER : Experts warn of incoming electricity crisis after Trump ends Iraq’s exemption for Iranian gas imports!, 8 FEB

 CRYPTO TRADER

#IQD Experts warn of incoming electricity crisis after Trump ends Iraq’s exemption for Iranian gas imports.

7:49 AM · Feb 8, 2025

MILITIAMAN: MM&C-Dinar-IRAQ-News-USA-Ironing things out-Financial Reforms-Global tra...

Evening News with Dr. Scott Young and MarkZ. 02/07/2025

 Evening News with Dr. Scott Young and MarkZ. 02/07/2025

20Feb 7

Evening News with Dr. Scott Young and MarkZ. 02/07/2025

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions

MZ: I have had so many messages from bank personnel today that have told they are working tomorrow. These are lower level, mid level, teller level who have no idea what’s going on but have been called into work this weekend.  Could it have something to do with updates or a change in bank systems?

MZ: Or does it have something to do with the Fed migration? “ Preparing for the Fedwire migration to ISO20022 in March 2025” This is the full migration on the Us banking system to ISO20022 …maybe it has something to do with that? I don’t know. But it’s interesting that I got it from many bank sources. 

Member: Interesting TNT has said the same thing about bank sources

MZ: I had a meeting with some upper level management folks. At the IRS they have suspended all hiring and if you were hired after Jan 20th…. You are gone. If someone was hired before Jan 20th and in a “probationary period” They are not sure what to do with those right now. I am hearing from staff that are involved that they do not know what is going on right now. From inside the IRS- they are not certain if the IRS still exists?

MZ: None of this is secret information…it is publically known. Noone has a NDA or anything like that. I believe the IRS and many employees are preparing to bail. They were told to keep working from home right now as they don’t what to do with them. Something is afoot….according to my sources that work there.  

Please listen to the replay for the total call and Dr. Young’s information and opinions on taxes. 

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY.

AJ: Parliamentary Finance meeting witnessed a 👀discussion of the timing of approving the budget tables for 2025, 8 FEB

AJ

Parliamentary Finance meeting witnessed a discussion of the timing of approving the budget tables for 2025; with the aim of launching projects according to the specified schedule with an emphasis on increasing non-oil revenues, (There it is again Non Oil) The Kurdistan Regional Government (KRG) Council of Ministers, in its latest meeting, urged the Iraqi State Oil Marketing Organization (SOMO) to resume oil exports from the Kurdistan Region as soon as possible, ensuring that all revenues are directed to the "federal treasury."

This move aligns with efforts to implement the recently approved amendment to Iraq’s budget law, which facilitates the restart of oil exports that have been halted since March 2023. The statement added, "The meeting discussed the details of amending Article 12 of the Federal Public Budget Law related to oil production and export, in addition to the financial challenges facing the country and preparations for preparing and approving the 2025 budget tables." Al-Atwani stressed - according to the statement - "the necessity of the region's commitment to pay its financial dues to the central government in exchange for receiving its dues, including employee salaries and project financing, to end financial disputes", again the financial committee's keenness to "end all disputes and stop oil smuggling; Because of its negative impact on the financial stability of the country. " The statement clarified that "the meeting witnessed a discussion of the timing of approving the budget tables for 2025; with the aim of launching projects according to the specified schedule with an emphasis on increasing non-oil revenues, reducing spending on non-core projects, investing service and educational projects, and supporting the private sector."

9:25 PM · Feb 7, 2025