Iraqi lawmakers hold 'individual' meetings to choose parliament speaker
Shafaq News/ Iraqi lawmakers are holding "individual" meetings away from the influence of political bloc leaders to select a new parliament speaker, a parliamentary source revealed on Saturday.
The source indicated that the odds favor Salim al-Issawi's candidacy.
The source, speaking to Shafaq News Agency, stated that lawmakers are conducting individual meetings independently of political bloc leaders to choose a candidate for the position of Speaker of the House of Representatives.
The source added that the majority of the Coordination Framework members back al-Issawi. Some have estimated that around 180 lawmakers, mostly from the Coordination Framework, believe al-Issawi will break the dominance of former Speaker Mohammed al-Halboosi.
According to the source, those supporting Mahmoud al-Mashhadani for the position are limited to the State of Law and Takadom (Progress), in addition to some independent lawmakers, not exceeding 140.
The source indicated that expectations within the parliament currently point to postponing the election of the Speaker until the evening to finalize the matter.
Earlier, al-Azm Alliance revealed that all political forces are holding intensive meetings before the Saturday session.
[via PDK] Question: Do we need to sign an NDA at our exchange?
MarkZ: I was told the need for an NDA for currencies is getting slimmer and slimmer...
[via PDK]
On the banking side there are big expectations for this weekend. Many people saying this. And expecting a big announcement out of Iraq this Sunday. Hopefully this is it. We will find out Sunday or Monday.
Article: “Russia endorses Vietnams future participation in BRICS: Russian ambassador”
This is the world doing the fundamentals it takes to change their currencies.We are seeing a seismic shift from fiat back to commodities. This is a big piece of news.
And Vietnam is pushing toward that end…like Iraq and it’s with or without the US.
Question: Will the VND go at the same time as the IQD?
MarkZ: We still expect them to go at the same time.
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Mark Z on 5.16.24
Member: Good Morning Everyone! Have a Terrific Thursday!
MZ: Are you guys ready- are you paying attention and waiting for big announcements or “extraordinary plans” to be revealed in Iraq on Sunday- according to Sudani ?
Member: Not expecting so I can be pleasantly surprised….
Member….MilitiaMan also mentioned this last night.
MZ: MM had a good solid video last night….Hope you all listen…… He talks about “Extraordinary Plans” to be announced –according to Al-Sudani. On Sunday. Now this has something to do with the budget. Finishing the 2024 budget.
MZ: I tell you what- announcing a different rate would sure fix all of those problems including the budget
MZ: We are all praying this means something big. Lots of progress internationally and MM also talks about the impending ascension to the WTO.
Member: it seems that sudani is under enormous pressure to pull the trigger.. but I'm sure he's making sure that there's no hiccups".
MZ: I continue to hear great things from banks as they continue to train. They say it means we are close but I don’t know what that means timewise
Member: Close is one of those words I never want to hear again after the RV. Close does not seem to mean what we used to think it meant.
MZ: “Russia endorses Vietnams future participation in BRICS: Russian ambassador” This is the world doing the fundamentals it takes to change their currencies. We are seeing a seismic shift from fiat back to commodities. This is a big piece of news. And Vietnam is pushing toward that end…like Iraq and it’s with or without the US. .
Member: Putin said 80% of trade between Russia and china is traded outside the USD
Member: Hey if Vietnam wants to go now I won't stop them
Member: Since Vietnam is doing so well financially on their own, I wonder if its possible that vnd could go higher than 50% of iqd?
Member: has there been a change in how they'll send notifications for redemption center appointments?
Member: I firmly believe we will not really know until it happens. No sense worrying about something we have no control of.
Member: Will the VND go at the same time as the IQD?
MZ: We still expect them to go at the same time.
Member: Could we be in the banks next week?
MZ: If we get a rate on Sunday- IMO we could be in the banks next week.
PM Al-Sudani orders creation of intelligence training and research academy
Shafaq News / Iraqi Prime Minister and Commander-in-Chief of the Armed Forces Mohammed Shia Al-Sudani chaired a meeting of the National Intelligence Council on Saturday.
During the meeting, several security files and issues related to intelligence operations and plans were discussed and the latest updates on security and intelligence operations were presented according to areas of responsibility, as stated by the PM’s media office.
“Prime Minister Al-Sudani received a comprehensive assessment of the preparedness and level of performance of the intelligence and security agencies, their duties related to Iraq's security, the safety of its territory, and the security operational map outlining proactive measures and pre-prepared plans to address potential threats or security breaches.”
Prime Minister Al-Sudani emphasized the importance of “close cooperation between security and intelligence agencies, optimal management of information, working as a unified entity, and distributing intelligence work sectors.” He stressed securing the requirements for formulating general policies in intelligence operations and updating them according to the latest field developments.
“The Prime Minister also underscored the importance of monitoring terrorist and extremist groups and observing any movements or activities targeting social peace, especially after the successes achieved by our armed forces in dismantling these networks and crippling their capabilities.”
The statement further mentioned that Prime Minister Al-Sudani highlighted the need for the “intelligence agencies to employ work areas to develop precise assessments of risks, generate regular national security reports to cover any potential threats locally, regionally, or internationally, and enhance individual competencies and the capabilities of intelligence personnel to develop field operations.”
The Prime Minister ordered “conducting a study on the feasibility of establishing an intelligence training and research academy to enhance national capacities and capabilities. This academy would support the state’s security and intelligence apparatus in gathering and analyzing information and improving capa bilities to handle cyber threats, which are considered the most significant danger to intelligence agencies,” as per the media office’s statement.
There is NO NEED for an NDA, whatsoever, unless you were a participant in the Private Placements, which were concluded in 2011. The only people who otherwise hold NDAs are bank presidents, branch managers, and of course any of the three letter agencies necessarily involved, such as the UST...
There are several regiments to float a currency: FREE FLOAT - The currency's value is determined solely by supply and demand in the market...MANAGED FLOAT - Similar to a free floating...but a government intervenes by buying or selling its own currency to minimize fluctuations.
CURRENCY PEG - The currency's value is pegged to a basket of currencies or to another country's currency. EUROPEAN SNAKE [In The Tunnel] - Beginning in mid-1972...Each country agreed not to allow its currency to fluctuate more than 1 1/8% up or down from an agreed central exchange rate.
I doubt they still call it "The Snake" but that is the method used to if one wishes to participate in the IMF baskets...
The Dinar will use the European Snake method of floating the currency because it only allows for a 1 1/8% fluctuation up or down thus providing the maximum stability. The currency will open with it's permanent value, more or less, and then over time, it may be allowed to adjust one and one-eighth percent either way...
Chinese exports to Iraq surged more than 90% in the last decade
Shafaq News/ The Iraq Future Foundation revealed on Saturday a 93% increase in Chinese exports of direct goods to Iraq over the past decade, warning that this surge raise concerns about Iraq's ability to meet the escalating demand for foreign currency.
According to the foundation's report, Chinese direct exports to Iraq totaled $7.9 billion in 2015, with an anticipated rise to $15.3 billion by the end of 2024 based on early-year data.
The report highlighted specific sectors driving this growth. Machinery and equipment exports, including air conditioning and refrigeration devices, saw a remarkable 162% increase, from $1.4 billion in 2015 to an expected over $3.7 billion by 2024.
Electrical appliance exports, constituting 14% of China's total exports to Iraq, also surged by 77%, from $1 billion to a projected $1.9 billion by 2024.
Notably, Chinese iron and steel exports experienced the most significant spike, with a staggering 280% growth compared to 2015, projected to reach $500 million by 2024.
Moreover, rubber-made product exports, particularly tires, soared by 195%, from $151 million in 2015 to an estimated $446 million by the end of 2024.
The foundation attributed this exponential growth to various factors, including rising demand due to population growth and urban expansion in Iraq and direct shipping from China instead of other intermediary countries.
However, the report cautioned that this surge could pose challenges, leading Iraq towards a phase where it struggles to cover the burgeoning demand for foreign currency. It recommended strategies such as localized manufacturing to reduce dependency on Chinese imports, especially in critical sectors like mechanical and electrical devices and tires.
