Chihoud: Washington has lost all its cards in Iraq and is working to undermine security in the region, 20 AUGUST

 Chihoud: Washington has lost all its cards in Iraq and is working to undermine security in the region

8-19-2023

Chihoud - Washington has lost all its cards in Iraq and is working to undermine security in the regionInformation/Baghdad..

The representative of the State of Law Coalition, Muhammad al-Sayhoud, described, on Saturday, the recent US moves on the Syrian-Iraqi border as empty and aimed at showing Washington’s false control over the region.

The Zionists said in a statement to Al-Maalouma that “what is happening on the border strip between Iraq and Syria aims to stir up public opinion and show false control over the region.”

He added, “The power of the United States has lost all its cards in the region, especially with the announcement of the Saudi-Iranian rapprochement and the end of Washington’s hegemony in the Gulf.”

Al-Saihoud pointed out, “The American public opinion is very upset with the loss of control over the region and the tendency of most countries to conclude commercial deals away from Washington.”

And the social media platforms have recently witnessed a great momentum for transmitting videos of the deployment of US forces and doubling the convoys.

almaalomah.me

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The World Bank: Iraq's economy is 'fragile' with +$152 Billion debt

Shafaq News / The World Bank has stated that Iraq's economy is fragile, and the country's debt has risen to $152 billion, highlighting that the Central Bank of Iraq's (CBI) auctions have diverted hard currency to the parallel market, leading to a decline in the value of the Iraqi dinar against the dollar.

In its 'Renewed Pressures: Iraq's Recovery at Risk' reporte, the World Bank stated that "Iraq's economy is grappling with a recession in non-oil GDP, industries, and agriculture, coupled with rising inflation rates. The country lacks comprehensive structural reforms under its current government to bolster its economy beyond oil."

"The annual budget approved by the government authorities witnesses a significant increase in public expenditures by 59% compared to the previous year, constituting 74.3% of total expenditure. This will result in a substantial fiscal deficit of IQD 51.6 trillion (approximately $39.7 billion), representing 14.3% of general imports, more than half of the recent record reserves accumulated following the oil price surge."

Regarding CBI's policies in devaluing the local currency, the World Bank indicated that "the devaluation of the Iraqi dinar has led to overall and core inflation increase due to excessive reliance on imports amid weak domestic production, a gap exposed by the government's policies, further jeopardizing the country's fragile economy."

According to the World Bank, "Iraq's lack of income diversification due to successive chaotic government policies has led to a contraction of the local GDP by 1.1% in 2023, coupled with an increase in the country's public debt reaching 58.3%, up from 53.8% the previous year, totaling $152 billion, a $10 billion increase. The external debt amounts to $50 billion, while the internal debt is $102 billion. This means that the government authorities borrowed about $60 billion internally over the past three years, at an average rate of $15 billion annually, with annual interest on domestic debt amounting to 16% to 17% of the debt volume."

The bank also highlighted that "the economic prospects for Iraq's future remain subject to significant risks due to excessive reliance on oil, making it vulnerable to oil market shocks and global demand fluctuations, as evident from recent oil price declines. Additionally, driving fragility are key economic challenges like rampant corruption, inadequate service provision and infrastructure development, and security risks."

The World Bank further added, "The persistence of these policies by the government authorities will lead the country's budget to favor political parties that have hindered the wheel of development, causing significant imbalances despite two decades of claims that the war has ended.'

https://shafaq.com/en/Economy/The-World-Bank-Iraq-s-economy-is-fragile-with-152-Billion-debt

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"RV UPDATE" BY MILITIAMAN, 19 AUGUST

 MilitiaMan (KTFA)

Alaq out of the blue [In an article] Quote “from 5 to 6 cents the cost of the Iraqi currency edition per paper.”

  He just happens to throw in how much it costs to print a note.  Whether it’s the small category notes or large notes, he’s saying it is 5 to 6 cents…They’re not printing any more triple zero notes from what they said…

You have to pay attention to what they’re saying and then realize they talk outside both sides of their mouth.  So you have to be very careful of what’s being said and then you have to understand who’s saying it…

If Sudani is talking about it, you got to give that that credit.  If his advisors…saying it, give it some credibility.  If it’s a parliamentary Finance Committee be careful.  If it’s the Finance Committee and it’s directly from Sammy I would listen to that just as I would listen to Alaq because they’re the top.

"RV UPDATE" BY BRUCE. 19 AUGUST

 Bruce (The Big Call)

[via WiserNow]

What is Iraq going to do – when are they going to maybe bring out their new rate,  print it in the gazette – and all of that on Sunday?  We believe the Prime Minister is here. 

 Could he make  the announcement from here or would that new rate and the opening of the budget and the HCl law which has been passed and needs to be implemented and soon…Would that be announced here or would that come out on Sunday or Wednesday?

 We don’t know the answer to that yet…This is looking very solid for next week. Let’s see what happens.

How to Invest in Commodity Stocks, 19 AUGUST

When Is the Right Time to File for Social Security?, 19 AUGUST

Social Security is a government program designed to provide financial support during retirement. As a retirement planner with over 25 years of experience, I understand how important Social Security is for people of retirement age.

Here’s a Way to Save Social Security and Defer RMDs

For many people, Social Security represents a substantial portion of their retirement funds, accounting for over 50% and, in some cases, even 100% of their income. At the same time, it is extremely complex. According to the  IRS website, there are thousands of combinations for how you could take Social Security.

Instead of navigating the daunting complexities of Social Security on your own, I always recommend speaking to a financial professional so that you can make an informed decision. The right approach to Social Security could add up to thousands of dollars over a lifetime.

Factors to consider when deciding when to take Social Security benefits

Age. Individuals can start receiving benefits as early as age 62 or delay until age 70, with the full retirement age (FRA) usually ranging from 66 to 67, depending on the year of birth. Claiming early can give you immediate income, but it will result in permanently reduced benefits and potential tax implications if you’re still working. Claiming at FRA offers the advantage of receiving full benefits without reductions. However, delaying further up to age 70 results in increases in monthly benefits.

Income. Ultimately, when it comes to claiming, if you need the money now, that is the most important consideration. Changes in personal health, employment status or financial situation can alter the decision-making process. Individuals may opt to claim earlier to cover living expenses, even though it may result in lower lifetime benefits.

Life expectancy. Health considerations are essential. The primary advantage to delaying benefits is the significant increase in monthly benefits, which can be advantageous for those expecting to live longer. However, the trade-off is forgoing benefits during the delay period.

Marital status.  Married couples can strategize when and how to claim benefits to help optimize their combined benefits. Age differences between spouses are also an important consideration. For example, even if the higher earner has a lower life expectancy, a couple may decide to delay claiming benefits so that their spouse can have a higher monthly survivor benefit.

The impact of COLA on Social Security benefits

Cost-of-living adjustments (COLAs) are increases in Social Security benefits designed to counteract the effects of inflation  and maintain the purchasing power of retirees’ benefits over time. For example, if an individual’s monthly benefit is $2,500 and there’s a 2% COLA, their benefit for the following year will be $2,550, an increase of $50, which is 2% of $2,500.

Happy Birthday, Social Security: Celebrate by Avoiding These Three Mistakes

COLA affects the overall value of Social Security benefits, especially for those who delay claiming. Delaying benefits will result in a higher base amount that will receive COLA adjustments, leading to increased benefits over time.

Common myths regarding Social Security timing

Claiming benefits early guarantees higher lifetime benefits. While claiming early provides immediate income over a potentially longer period of time, it permanently reduces the monthly benefit amount. Delaying benefits can lead to increased benefits over time for those with longer life expectancies.

There is a “right” time to take Social Security. The idea of a one-size-fits-all answer to the Social Security timing question is unfortunately not possible. Too many factors and unique considerations must be considered for there to be a cut-and-dried answer to find the best time for your specific situation. Everyone’s situation is unique, which is why I recommend meeting with a retirement planner. A retirement plan, created with the help of a professional, could help optimize Social Security claiming strategies and lead to increased retirement income.

Social Security will cover my entire cost of living in retirement. Social Security could cover your expenses in retirement, but for many retirees, Social Security is a base, and they need to take withdrawals from investments to make up for what they need in retirement. However, it is crucial not to go overboard and drain your savings too quickly. A personalized retirement cash flow plan can help estimate what amount of withdrawal from your investments would be good to look at to supplement your Social Security income.

Why Are You Still Working?

Social Security is a vital component of retirement planning, and the decision of when to claim benefits should be made with careful consideration of individual circumstances. By understanding the significance of Social Security, considering COLAs and evaluating various claiming strategies, retirees can make informed choices to maximize their retirement benefits.

https://www.nasdaq.com/articles/when-is-the-right-time-to-file-for-social-security 

IQD Backed by Gold Not Dollars = Higher Rate?!🤔Iraq Dinar RV Updates | 8...

Weekend News with MarkZ 08/19/2023

Weekend News with MarkZ 08/19/2023

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member:  Good Saturday Morning…. Crazy to think another Saturday.

Member: Hi Mark, what is your confidence level that we will revalue by the end of 2023.

Mod:  LET US PRAY IT BREAKS LOOSE THIS WEEK

MZ: I don’t know about August but I still feel good about 2023 as a year of historic change.

MZ: Redemption Center folks are not at work….Mr C has not been paid yet. 

MZ: “In Iraq ”6 new directives from the Central Bank”  This is from the CBI for ALL banks. They have changed many of their internal structures in order to use prepaid credit and debit cards. They have also upped their limits even higher than most US prepaid cards.

MZ:   Up to about 10 grand a month on a prepaid card. 2grand a day and $750.00 a day on online purchases…They are making it very attractive to not use cash. This is very interesting…They are modernizing their system…..this is necessary for our reset. 

Member:  Good morning. I heard the rate for dinar and doing may be 4.57. I Hope that’s true?

MZ: Lot of people hearing that….I don’t have any proof though…I think somebody jumped the gun…..

Member:  DONG still possibly at $2.00 to $3.00

Member: We just need the date…….

Member:   well Bruce said Monday –Tuesday

MZ:  “China’s shadow bank misses dozens of payments, sparking protests”  The Chinese economy is imploding before our eyes. We are watching our banks fail as well. But our news is just covering the Chinese failures instead of the American failures. 

MZ: “ JPMorgan hikes default forcasts for emerging markets as Country Garden drives China contagion fears” This is another massive property developer that is having serious problems….The housing market troubles leads to the entire market being very troubled. 

MZ: “China new home prices fall for the first time in 2023 dimming economic outlook”  Devaluation of hard assets has hit China. It has hit the US as well…but only in key markets. 

MZ: “BRICS blocs to discuss payment system at upcoming summit”  They have officially stated that this upcoming meeting is to talk about a “standard payment system” so that anybody within these BRICS countries can spend, send or operate business inside and out. This is a story is much bigger than our mainstream media knows…..This allows seamless financial transfer between BRICS countries. 

Member:  Arcadia Economics on YouTube has Jim Willie giving his breakdown of the upcoming BRiCS Summit

Member: Charlie just said he believes QFS to start after Brics announcement

Member: I wonder if Venezuela taking any steps similar to Iraq to boost their currency's value, such as trying to reduce the amounts on the streets, etc.?

Member: Mark , isn't the QFS setup for world wide implementation? Therefore, the BRICS summit is a wakeup for the sleepers?? imo

Member:  Happy Birthday to those celebrating their special day. God bless everyone, have a wonderful day

Member: Everyone have a wonderful weekend……

CBD Guru’s join the stream at the beginning….please listen to the replay for all their information..

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