Sunday, September 29, 2024
Setting a date to launch 102 investment opportunities in Iraq, 29 SEPT
Setting a date to launch 102 investment opportunities in Iraq
Today, Friday, the Chairman of the National Investment Commission, Haider Makiya, set the date for launching 102 investment opportunities in various sectors.
Makiya said, "The Investment Commission is preparing, during the Iraqi Investment Forum conference that will be held on the second of next October, to launch 102 investment opportunities that have completed sectoral approvals," noting that "these projects that will be announced will include various sectors, and will benefit the citizen and the state."
He pointed out that "these projects were the result of numerous discussions within the operations room within the authority, with the membership of the Iraqi Economic Council, as well as the Prime Minister's Office, and a map was drawn up for the projects that are expected to be implemented by the beginning of November."
Regarding environmental sustainability projects, Makiya confirmed that “the Authority is working with Iraqi banks to set goals, plans and applications for banks to finance climate and environmental change projects,” indicating that “the Authority has projects and a round of discussions with the International Finance Organization that will be announced soon.” link
Weekend News with MarkZ and MM. 09/28/2024
How to deposit a large sum of money , 29 SEPT
How to deposit a large sum of money
If you've amassed a large sum of money at home instead of putting cash in the bank, you may be wondering if it's even possible to deposit it once you've had a change of heart.
The answer is yes, but there are some caveats.
Specifically, when you deposit over $10,000, your bank is required by the Bank Secrecy Act to report it to the Financial Crimes Enforcement Network. Your bank may ask some personal questions, including why you're depositing such a large sum, so you must be prepared to answer them.
To be clear, if you've done nothing wrong, earned the money legitimately and paid taxes on it, this reporting requirement shouldn't worry you. You just need to know about it so you aren't caught off-guard by the bank's queries.
Read more: Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead.
What you don't want to do, though, is break up your big deposit into a series of smaller ones to evade reporting rules. This is called “structuring” and it's illegal even if you earned the money legitimately.
It’s also a good idea to call the bank in advance of making a large deposit. Showing up with $650,000 in cash could cause problems if the financial institution isn't prepared to handle that much all at once. Your bank can work with you to find a safe way to deposit the money.
You should also be aware that the Federal Deposit Insurance Corporation only insures up to $250,000 per person, per account, so simply depositing $650,000 into a bank account may not be the best move. You may want to put some money into different savings accounts or buy Certificates of Deposit or other investments with it so you don't risk losing funds above $250,000 if another bank collapse happens sometime in the future.
Making moves
While banks gave consumers lots of reasons to distrust them in the leadup to the Great Recession, the reality is that over-reacting and opting out of the financial system isn't necessarily the right move.
In fact, if you had money in index funds at the time, you may have been able to recoup your losses and earn much more. For example, if you'd had $100,000 in an S&P 500 index fund in 2009, that money would be worth around $850,000 in 2024 if you reinvested all your dividends.
Recoveries happen, as well as recessions. Many experts believe the single-best way to grow your wealth is to invest steadily over the long-term. Investing legend Warren Buffett even recommends average investors put their money in an S&P 500 index fund, since the index has a multi-decade track record of success. By not participating, you may be limiting your earning potential.
What to read next
Cost-of-living in America is still out of control — use these 3 'real assets' to protect your wealth today, no matter what the US Fed does or says
Lock in juicy quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
Jeff Bezos and Oprah Winfrey invest in this asset to keep their wealth safe — you may want to do the same in 2024
https://finance.yahoo.com/news/lost-faith-banks-2009-now-115000682.html
TNT UPDATE, 29 SEPT
Fri. 27 Sept. 2024 TNT Tony:
- On Thurs. 26 Sept. Bank managers received memos stating that the currency event has finally been finished. Finished, done, over with it. It went from the director level down to bank managers that got memos. Now we are just waiting to go. This should not happen until after 5pm.
- Some think it will be Saturday morning. Just remember that Iraq wants it by the 30th and the UN wants it on the 1st. Tony doesn’t know who won. They told us that it is done, it is fixed, they told their people it is finalized, and once we see the rates we will be going to the bank. Somewhere starting after 5 this afternoon and no later than Tuesday morning will see it live and be going to the bank.
- They are supposedly ready, staffed, have their schedules worked out, and they are just waiting to go when the numbers come up on the screen. It makes sense for us to see this Monday night, it satisfies what everyone wants, and we would be at the banks Tuesday morning. Everyone is kind of excited again.
- We are in our last 48 to 72 hours. It is sitting at the bank level. There is no more waiting for Iraq, IMF, or UST because it is done. They have given the banks the green light. The systems are now fixed or supposedly will be fixed. The only thing they are waiting on is the 800 number and Tony won’t get the 800 hundred numbers until the rates come back up. There really isn’t anything bad but Iran could do something s****d to flare up the middle eastern. If it happens before we do our part, then it is up in the air. The good thing is it is done, there is money, and it could happen for us. Be ready.
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