Wednesday, June 12, 2024
Bruce’s Big Call Dinar, 12 June
Bruce’s Big Call Dinar Intel Tuesday Night 6-11-24
Welcome everybody to the big call tonight. It's Tuesday, June 11th and you're listening to the big call. Thanks, everybody. I’d like to welcome everybody to the big call from wherever you're located. And of course, like to thank the SAT team for keeping up with and monitoring using the Starlink satellite system monitoring our listeners, which at last count we thought were about 25 million. That was in close to 200 or so countries -
So let’s see what the numbers are coming out today - the main thing is we're welcoming everybody to the big call - Glad you guys could make it - and I'm excited about fact that we're getting out, reaching a lot of people and trying to do the best we can by putting our information to them
So Bob what's our time hack, Bob? It's 10:05, . Okay, good 10:05. Let’s do this - intel segment is relatively short tonight, things are very quiet and have been for days, and realize we haven't had a call since Thursday night, so that's five days ago, but I can tell you, we have two sources saying that we expect notifications either - Well, it was either today or tomorrow, they haven't come in today.
That puts tomorrow in position right now. And the other piece that we got was from a bond - well banker who's got connections to the bondholders and the bond pay masters - He said bondholders should be receiving their emails tomorrow.
Well, typically, if the bondholders get their emails tomorrow, we should get our emails tomorrow as well. That is theory of the shotgun start. They could be a little bit ahead of us, but overall, I don't believe that's going to be the case. I think they're right there. I think this thing is very close to coming out.
They really don’t want us to know when it's going to come out. But if bondholders get notified tomorrow, we should also get notified tomorrow, and then all we do is set appointments and start our exchanges tomorrow or Thursday.
So not a whole lot of Intel. I know that everybody's curious as to when our start is, obviously, I'm curious about it as well, but when things tend to be this quiet, this quiet out there, usually we could say it's it's ready to go, being quiet for a reason, and we can take advantage of that. It's not much, but we don't need a whole lot we just need a start, and I think this is what we are looking at
Obviously we're very close. Hopefully this thing we get notified tomorrow, we'll see what that looks like, and everything's just moving behind the scenes - . So I can tell you that the so called pickup is going gangbusters right now - There's a lot happening behind the scenes – to remove people basically been in the way of this for a long time – they are getting picked up right and left now.
So without detail on that, I feel like you're getting what you need to get right now. Obviously we're looking forward to this going so thank you guys for listening tonight. I appreciate it. And before we turn off the recording, let's go ahead and start and pray ourselves out. Okay? Good.
"IQD still at 1/6 of a penny…. Why?" BY MNT GOAT, 12 JUNE
IRAQ’S FINANCIAL REVENUES EXCEED 42 TRILLION DINARS WITHIN 4 MONTHS
The Iraqi Ministry of Finance revealed, on Monday, that the volume of revenues in the federal budget during four months exceeded 42 trillion dinars, confirming that the oil contribution to the budget remains at about 89%.
(oil revenue down from 95% in last report…😊)
Shafaq News Agency followed the data and tables issued by the Ministry of Finance this month, for the accounts of the months of January, February, March, and April for the current fiscal year, which showed that oil is still the main resource for Iraq’s general budget, as it reached 89%, which indicates that the rentier economy is the basis of the country’s general budget.
The financial tables indicated that the total revenues in the aforementioned four months amounted to 42 trillion and 725 billion and 409 million and 202 thousand and 38 dinars, and that the total expenditures with advances amounted to three trillion and 678 billion and 245 million and 511 thousand dinars.
According to the financial tables, oil revenues amounted to 38 trillion, 3 billion, 728 million, and 183 thousand dinars, which constitute 89% of the general budget, while non-oil revenues amounted to four trillion, 698 billion, 785 million, and 9 thousand dinars.
For his part, economic expert Muhammad al-Hassani told Shafaq News Agency, “Oil prices are subject to global fluctuations,” stressing that “the Iraqi government must take advantage of the financial abundance in the budget by developing the economic and agricultural sectors to reduce dependence on oil.”
He added, “Corruption and bureaucracy overwhelm most aspects of government institutions and prevent any economic development taking place in Iraq,” warning against “not diversifying the Iraqi economy as quickly as possible, which will make the Iraqi state unable to even pay the salaries of its employees in the near future.”
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, confirmed in March 2021 in an interview with Shafaq News Agency, that the reasons for the Iraqi economy remaining rentier are due to the wars and the imposition of the economic blockade on the country during the past era and the political conflicts we are witnessing today, which led to… dispersal of economic resources.
The Iraqi state’s continued reliance on oil as the sole source of the general budget is a source of danger in the global crises that occur from time to time as oil prices are affected by them, which makes the country tend every time to cover the deficit through borrowing from abroad or within, and thus indicates an inability to manage… Effectively using state funds, and the inability to find alternative financing solutions.
(IQD still at 1/6 of a penny…. Why?)
The SEC signs an important agreement with the IFC Foundation. With these details, 12 JUNE
The SEC signs an important agreement with the IFC Foundation. With these details
The Iraqi Securities Commission signed, today, Wednesday, the Agreement on the Guide to Environmental, Social and Corporate Governance with the International Finance Corporation (IFC) (a World Bank organization).
The Authority said in a statement received by {Al-Furat News} a copy of it, that: “The objective of the agreement is to promote and develop the investment environment in Iraq by improving regulations, environmental, social and governance frameworks to comply with international standards, enhancing the ability to implement and supervise its implementation in Iraq and contribute to increasing investment attractiveness in the Iraq stock market environment.”
She added, “To achieve this goal, coordination will be done with the Iraq Stock Exchange through the supervision of the Iraqi Securities Commission to develop the guide to environmental, social and corporate governance to support the improvement of the performance of listed companies, and put Iraq on the path towards a strong and sustainable economy, as the agreement included reaching a mandatory guide to apply to companies listed on the Iraq Stock Exchange.”
The head of the Commission, Faisal Al-Haims, said, “The preparation of a guide to social and environmental governance and corporate governance through a partnership with the International Finance Corporation improves the Iraqi investment environment by adopting international standards that evolve from the current investment environment in the Iraq Stock Exchange. Following the framework of environmental and social governance and corporate governance makes companies listed on the Iraq Stock Exchange more transparent and better performing, and be more attractive to foreign investments.”
He pointed out that “the topic of environmental and social governance and corporate governance will be a focus of the national strategy for investment awareness and support for the investment culture that the Authority is working on and will be announced in October 1 of this year.”
For his part, Aftab Ahmed, Regional Director of the International Finance Corporation for the Middle East, Pakistan and Afghanistan, said, “We are excited to partner with the Iraqi Securities Commission in this important initiative that aims to help companies and banks mitigate the risks of environmental, social and governance practices, improve long-term performance sustainably, as well as attract investment, and contribute to the sustainable growth of the stock market in Iraq.”
He pointed out that “during the process of preparing the manual, there will be workshops and meetings with relevant parties such as listed companies and brokerage companies.”
The Iraqi Securities Commission, as the regulator and monitoring stock activity and associated financial activities and services, seeks to increase the contribution of this sector to GDP and provide an investment environment that protects the rights of investors and other stakeholders.
https://alforatnews.iq/news/هيأة-الأوراق-المالية-توقع-اتفاقية-مهمة-مع-مؤسسة%C2%A0ifc-بهذه-التفاصيل
"RV UPDATE" BY FRANK26 & FIREFLY, 12 JUNE
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Parliament is saying we're going to pass the investment law. You're going to see it very soon...
FIREFLY: I talked to my bank friend...He said when we do drop the zeros, we the citizens will have a certain number of days to return for new lower currency. This will be the 1 to 1. Not 1 dollar for 1 dinar but 25k note for a 25 note. It will revalue in country above a dollar...We will probably see dinar in country just over $1.
FRANK: Now do you see why they kept it at 1320?
FIREFLY: The 1 to 1 will be dropping off the three zeros from our exchange rate, from our currency...a 25k note will be a 25 note...This is for inside of country, not outside of country.
https://dinarevaluation.blogspot.com/2024/06/iraq-boots-on-ground-report-by-firefly_0626288117.html
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