The National Union reveals a prior agreement to pass the oil and gas law
7-9-2023
The National Union reveals a prior agreement to pass the oil and gas lawInformation / Baghdad..
The rapporteur of the Patriotic Union of Kurdistan parliamentary bloc, Karwan Ali Yarouis, revealed on Sunday that there is a political agreement to pass the oil and gas law in parliament, stressing that discussions about it will be launched after the end of the legislative recess.
Yarois told Al-Maalouma that “the oil and gas law is one of the most important laws that ends the dispute between the federal government and the regional government and guarantees Iraq’s rights in general.”
He added, “There is a political desire among the forces of the State Administration coalition to approve the law during the current parliamentary session,” noting that “the legislation of the law helps to resolve the differences between the governments of Baghdad and the region.”
Yarois pointed out that “Parliament is close to enacting the oil and gas law, and that discussions about it will start after the end of the legislative recess.”
The representative of the Kurdistan Democratic Party, Jay Taymur, confirmed in a previous interview with Al-Maalouma that there is a political consensus to pass the oil and gas law during the current parliamentary session.
Nothing will happen without the new exchange rate. How do you get the new exchange rate? By cleaning the floor of the CBI that has the new exchange rate so all Iraqi citizens will be well protected and their currency will not be stolen anymore, will not be counterfeited anymore … Sudani is busting everybody’s behind and it’s on a daily basis for the monetary reform…
XRP pairing with the dinar is a tell tale sign of an international float that’s coming with a pairing of many currencies with the Iraqi dinar.
You have to know when to hold them and when to fold them. When the new exchange rate comes out at least IMO 1 to 1, 90% of you are going to go to your banks and exchange. You’re going to say, ‘I’m done. I’m out of here. I’m happy with this.’ And that’s enough. That’s what the CBI is counting on by the way. If you have only a few dinars I don’t blame you. But if you have a lot of dinars, I would tell you to consider exchanging 10% and holding onto the 90% and watch the float.
Mountain Goat
Article: “IRAQ AND GERMANY SIGN A STRATEGIC COOPERATION AGREEMENT IN THE FIELD OF COMMUNICATIONS AND POSTAL SERVICES”
Does Iraq need this to RV? NO! But it certainly shows us once again just where this country of Iraq is slowly progressing more and more “open to the rest of the world”.
MilitiaMan (KTFA)
Halabousi was talking to the leaders of the country, the politicians etc, he says to run away before your arrest on corruption charges. So the Speaker of the House of Representatives is telling the people, those of you that are corrupt, you better start running…There’s been 96 arrests…those arrests probably have some influence on why Halabousi has suggested these guys take off and start running.
The Minister of Transport announced the completion of the port is 60%…At 1310 how many dinars is it going to cost to rebuild a port? How’s that going to work?
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It didn’t. It’s not finished… Remember this 2023-24-25 budget is retroactive to the 1st of this year…If they change the exchange rate…if they got to 1 to 1 that’s 1300% cheaper.What if they come back to the previous era…around $2.80 to $3.22…that’s 2600% cheaper… amazing how much cheaper that port’s going to be to build. Same with all these construction projects…The country is going to have to import those materials.
The Global Financial System implosion was imminent; US Inc, IMF, UN, World Bank, World Economic Forum and Central Banks around the World were now bankrupt defunct corporations without Sovereignty. The IRS and Federal Reserve have been shut down, while the bankrupt US Treasury has been transferred to the new US Treasury funded by gold and other assets of the Restored Republic and resides on an Indian Reservation near Reno Nevada; 4,000 Banks including Bank of America and Wells Fargo, were set to fail.
WARNING: There were reports of some asking for you to hand over your foreign currencies and/or Zim Bonds to them saying they will exchange or redeem them for you. DO NOT give in to this scam. Only the purchaser of the currency or bond can legally exchange or redeem that currency or bond at a Redemption Center for the higher rates. Exceptions were that if you have given someone currency or bonds, along with a notarized gift letter saying you have done so, or if you have given someone Power of Attorney over your affairs. The bottom line: If someone tries to turn in your currency or bonds without your authorization, they could be arrested.
The New Quantum Financial System’s Global Currency Revaluation – Slaves no more to the Cabal:
Sat. 8 July MarkZ: The chatter out of Iraq is that all eyes are between now and the 12th when they release the funds in their budget. Is there a lot of hope that’s when it will go? Absolutely. They have everything in place to pull the trigger.
China has defaulted on a trillion$ debt to US Bond Holders, which will undermine the US Dollar and Euro making them disappear. …Charlie Ward on Sat. 8 July
Fri. 7 July Death of the Fiat Currency System and Birth of Our GCR, Awake-In-3D The Fiat Currency Debt System is hurtling headlong into total collapse. It may start slowly at first, but as a series of financial stress points develop, a chain of events will accelerate into a sudden systemic crash. The recent demise of one Swiss and three US banks is just the tip of the iceberg. The domino effect is already in motion, and it won’t be too long before the entire global financial system crumbles – leading to the birth of Our GCR.
Former Blackrock Employee: The global fiat currencies are about to fail! If this collapse is imminent, it just means one thing from my perspective. The RV is right around the corner. RV stands for the Re-Valuation of the current currencies. This is the birthing of a new financial system on the horizon. The new currency will be backed by gold. No more inflations and no more making money from thin air. I can’t wait for this to happen. What an exciting time to be living in.
On Fri. 30 June the US Inc. Federal Reserve and US Inc. Treasury were asked to hand over all their assets as they were unable to pay back the Global Repository the quadrillions owed.
On Sat. 1 July the new Quantum Financial System began interfacing in computers around the World to coordinate currency transactions through the International Payment System ISO 20022. Also on Sat. 1 July the fiat US Dollar transferred into a gold/asset-backed US Note.
OnSun. 2 July about 5 pm EST the Dinar Rate on the Forex went public. A live Foreign Currency Converter showed it was fluctuating in value:1,000,000 IQD to USD – Iraqi Dinars to US Dollars Exchange Rate (xe.com) Khan Baba: Iraqi Dinar $4.86 International Rate.
OnMon. 3 July SOFR, Libor and many nations dumped their US Treasuries.
On Tues. 4 July the Quantum Financial System was fully integrated worldwide.
By October 2023 all protocols for the QFS should be complete.
BRICS New Gold Currency: A Serious Attack on the Fiat Dollar World
On July 8, 2023 By Awake-In-3D
I firmly believe that a BRICS new currency initiative may be the initiation and direct path forward for the eventual implementation of our RV/GCR scenario. The rise of a new joint currency backed by gold, the growing frustration with the dominance of the US dollar, and the expanding influence of the BRICS countries are reshaping the global economic landscape.
In this article, I discuss the key insights I’ve learned from an in-depth, private-source discussion on the BRICS’ new currency, its potential convertibility into gold, as will as the possible geopolitical and geo-economic consequences.
What You Will Learn from This Article
BRICS’ serious challenge to the dominance of the US dollar and the trend of de-dollarization
The potential convertibility of the new BRICS currency into gold and its implications for the global economy
The geopolitical consequences and tensions among BRICS member countries
The deliberate and calculated approach of BRICS in building up secretariats and think tanks
The expansion of BRICS membership and the role of Gulf countries
The uncertainties surrounding the leadership and coordination within BRICS
The past initiatives of BRICS and the lessons learned for the success of this new currency endeavor.
Valuable insights into the transformative developments surrounding BRICS’ new currency and its potential impact on today’s global fiat currency financial system
BRICS Currency and Growing Frustration
The BRICS currency aims to challenge the dominance of the US dollar in the world. It signifies a frustration with the way the US has used the dollar for its own purposes. BRICS seeks to develop a multi-polar world, reducing the influence of a single country. This frustration has led to an increasing number of countries expressing interest in joining BRICS.
Details of the New Currency
The specifics of how the new currency will evolve are not yet public. However, a roadmap for its development has been planned. The currency is expected to be convertible into gold, possibly using the Shanghai Gold Exchange. Russia and China already treat their growing trade by holding dollars in a gold-convertible account in China’s Central Bank. This model may serve as a template for China and other Gulf countries. BRICS is also utilizing local currencies to settle trade balances through the New Trade Bank, creating a reserve of local currencies.
The Strength of BRICS
BRICS has developed a robust organization with separate secretariats for various sectors, including geopolitics, trade, finance, education, and sports. These secretariats are housed in the BRICS Tower in Shanghai, signifying the early development of a new block of countries that poses a threat to the G7 nations.
BRICS’ New Currency Convertibility into Gold and Potential Expansion
Convertibility into Gold
The new BRICS currency is expected to eventually be convertible into gold. This means that holders of the currency will have the ability to redeem it for physical gold. The exact process of convertibility will likely be implemented gradually, with full convertibility expected by the mid-2020s. China holds an impressive 50,000+ tons of gold, while Russia possesses over 12,000 tons, indicating their significant gold reserves. The Shanghai Gold Exchange has already facilitated the conversion of large amounts of gold, with approximately 25,000 tons passing through the exchange into Chinese households and institutions.
Return to the Gold StandardThe ultimate goal for the new currency is believed to be a full return to the gold standard. This implies that the currency will be fully backed by and redeemable for gold, possibly surpassing the level of the previous gold standard. Such a return is anticipated to occur before 2030, primarily among BRICS Plus members.
Implications for Currency Issuance and Debts
The introduction of a gold-backed BRICS currency would not necessarily curtail the ability of member countries to issue their own currencies. However, an interesting point is that any existing or new member defaulting on loans from Western banks and financial institutions would not hinder their acceptance into BRICS. Consequently, the debt owed to entities like the IMF and the World Bank would effectively be wiped out upon the launch of the new currency.
Involvement of Other Commodities
While the original idea was for the new currency to be backed by a basket of commodities, including oil and rare earths, it seems that the concept has evolved into a gold-backed currency. Gold is now considered the primary backing for the currency. The role of other commodities in the currency remains uncertain.
Expansion of the BRICS Group
The BRICS coalition is likely to expand its membership in the near future. Around 20 countries, including Ethiopia, have expressed interest in joining. However, any new member requires unanimous approval from existing BRICS members. The first round of expansion is expected to be completed within a couple of years, with Gulf countries likely to be included. President Xi of China has made it clear that Gulf countries will have surpluses with China, and invoicing will be done in RMB, suggesting a close relationship between China and these nations.
Domestic Adoption of the Currency
Initially, the BRICS currency will likely be used to facilitate trade between member countries. It may not be immediately adopted as the domestic currency of these countries. The focus is primarily on using the currency for trade financing among BRICS members. However, as more trade is conducted in currencies other than the US dollar, central banks may reconsider the percentage of their reserves held in dollars.
Reactions and American ResponseThe US response to the development of the BRICS currency remains uncertain. The growing prominence of the new currency and the shift away from the dollar in energy markets could impact the role of the dollar as a global reserve currency. The actions and reactions of the US in response to these changes will be significant to watch.
Geopolitical Consequences and Unity Among BRICS Countries
There are existing tensions and disputes among some BRICS members. For example, China and India have border disputes. When all these countries come together, there will inevitably be jostling for supremacy and leadership. It is unclear if the assumption is that China will take the lead or if it has been technically agreed upon. However, the goal of BRICS is to pursue the greater good and operate on unanimous voting. The focus is on creating a multinational world, which suggests that differences may be put aside for the benefit of the group.
Previous Initiatives and Materialization
Previous ambitious initiatives by BRICS, such as developing a BRICS credit rating agency and creating a BRICS undersea cable, have not materialized as expected. Even the new development bank launched in 2014 remains heavily dependent on the US dollar for its survival, with local currency financing representing a small portion of its portfolio. Despite these setbacks, it is believed that the involvement of BRICS has been a deliberate, slow movement, carefully building up secretariats and think tanks. The lessons learned from past failures may contribute to the success of this new initiative.
The Role of BRICS Secretariat and Mistakes
The establishment of secretariats and think tanks within BRICS indicates a more thorough and thoughtful approach. The current President of the New Development Bank is the ex-president of Brazil, suggesting a movement towards greater significance. The previous plans may not have been well thought out, but BRICS has likely learned from those mistakes.
Coordination and Leadership
It is unclear which country is taking the lead in this initiative. The coordination seems to be mutual among all the countries, with advice flowing from the Secretariat to the leaders. The leader of the Secretariat, who remains unidentified, may play a crucial role in guiding the decision-making process.
Conclusion
It is important to note that this information is based on available data and speculation, as the specifics and outcomes of the BRICS initiative are not officially confirmed. However, the emergence of BRICS’ new currency, potentially backed by gold, signals a significant challenge to the long-standing dominance of the US dollar and the trend of de-dollarization. The possibility of convertibility into gold and the substantial gold reserves of China and Russia add depth to this currency’s potential.
While tensions and disputes exist among BRICS member countries, the pursuit of the greater good and unanimous decision-making characterize the coalition. Past initiatives may not have materialized as planned, but the deliberate approach of building secretariats and think tanks suggests a more thoughtful strategy this time. The expansion of BRICS membership, particularly with the involvement of Gulf countries, further highlights the shifting geopolitical landscape. The true extent of coordination and leadership within BRICS remain a subject of speculation.
We will have to wait and see what actually transpires at the upcoming BRICS Summit in late August. I will certainly be watching closely.
