Economist: The path of development will reduce unemployment and reduce dependence on oil as a source of budget
9-1-2023
Economist - The path of development will reduce unemployment and reduce dependence on oil as a source of budgetInformation / Baghdad..
Hashem Al-Baydani, a researcher in economic affairs, confirmed, on Friday, that the unemployment rate will be significantly reduced in the event of proper planning for development path projects, pointing out that the revenues of this path can reduce dependence on oil as a source of financing the budget.
Al-Baydani told Al-Maalouma, “The aforementioned road can push the Ministry of Industry, as well as private sector companies, to invest large areas near this road to establish factories and laboratories, and open the door for investment in front of international companies to bring their factories to Iraq to reduce transportation costs.”
He added that “constructing the road and opening projects on both sides of it can eliminate a large percentage of unemployment, since most factory owners want to export their products at reduced transportation costs, and this can be achieved by offering land near the road for investment or rent.”
And he indicated that “the establishment of factories, laboratories and projects on both sides of the road needs thousands or millions of workers and specialists, and this is something that can be invested in the right way and open the door for giant companies to invest, provided that the labor force is Iraqi, and it is possible to reduce customs duties or grant permits to open factories and factories for foreign investors.” With the aim of introducing new revenues to the country and reducing unemployment rates.
The stock market has been on a wild roller-coaster ride over the past couple of years, and if you're feeling nauseated by all the ups and downs, you're not alone.
Currently, the S&P 500 is up by nearly 18% so far this year and around 26% from its lowest point last October. While many people are optimistic that this is the start of a new bull market, others remain skeptical, especially since the long-awaited recession still isn't off the table.
If you're feeling conflicted about whether to invest right now or wait, it can sometimes be helpful to look to the experts.
While nobody can say for certain where the market is headed in the short term, legendary investor Warren Buffett can offer some reassuring words when it comes to investing during periods of volatility.
Is it safe to invest right now?
While the market's short-term movements can be daunting, they generally shouldn't affect your strategy. Even if stock prices fall in the coming weeks or months, it's still a good idea to invest now.
The stock market will always be unpredictable in the near term, and even the experts can't say where prices will be in the coming weeks or months. So if you're waiting for the perfect opportunity to invest, that moment might never arrive.
In the long term, though, the market is incredibly resilient. Over the past two decades alone, it has experienced multiple major recessions, countless corrections, and plenty of other ups and downs along the way. Yet the S&P 500 is still up by more than 207% since 2000.
In short, as long as you're a long-term investor, it doesn't necessarily matter what the market is doing today, next week, or even next month. Over many years, it's extremely likely it will see positive total returns.
Buffett's best advice for surviving volatility
This long-term investing strategy is also Warren Buffett's go-to approach, especially during periods of volatility.
In 2008, at the height of the Great Recession, Buffett wrote an opinion article for The New York Times to help reassure worried investors.
In it, he explained that he was continuing to invest in stocks even as prices plummeted.
"Let me be clear on one point: I can't predict the short-term movements of the stock market," he wrote. "What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over."
While it might sound counterintuitive, investing consistently during the market's rough patches can actually be more lucrative over time than waiting for the perfect time to buy. Many stocks are still priced well below their peaks, meaning now is your chance to load up on quality investments at a fraction of the cost.
"In short, bad news is an investor's best friend," Buffett wrote in the Times article. "It lets you buy a slice of America's future at a marked-down price."
One key to ensuring your investments thrive
Continuing to invest throughout the market's ups and downs is only one part of the equation. It's equally important to make sure you're investing in the right places.
The key to choosing the right stocks is to focus on companies with solid underlying business fundamentals -- such as healthy finances, a capable leadership team, and a competitive advantage in their industry. These stocks will still often take a hit in the short term when the market is volatile, but there's a good chance they will recover.
This is also Buffett's tried-and-true approach when buying stocks. In a 2021 letter to Berkshire Hathaway shareholders, he explained the strategy behind his and business partner Charlie Munger's investing success.
"[W]e own stocks based upon our expectations about their long-term businessperformance and not because we view them as vehicles for timely market moves," he wrote. "That point is crucial: Charlie and I are not stock-pickers; we are business-pickers."
The stock market can be intimidating during periods of volatility. But if you maintain a long-term outlook and choose the right investments, the short-term ups and downs shouldn't affect your strategy. By continuing to invest consistently, you'll be on your way to generating wealth that lasts a lifetime.
Question: Can Iraq do everything in their budget with the 1100 rate that is going now?
MarkZ answer: No, it will be in the hole if they do it with the 1132 rate…but it gets them a lot closer though.
Question: What do you estimate the NEER [Nominal Effective Exchange Rate] rate would be necessary to do their projects?
MarkZ answer: About $1.30 based on all the math that we have done, that many have done, would be the cheapest NEER rate that they can get away with, but then again they won’t be able to achieve the final value that they want if the come in that low.
...RV news...chatter among the banking folks... possible within the next 72 hours is the chatter amongst bankers and groups...
government contacts think as far out as the 9th, that is what they are hearing right now, banking contacts think we are much closer than that...my redemption contacts are working on Sunday, which is unusual...
Bruce
[via WiserNow] Now what we believe we have is ability to move forward...with our notifications on the first of September.However, it could be that we're notified...
[Friday] or Saturday, but it looks more like [Friday] with a start of exchanges to be on Saturday...Things can happen even over Labor Day weekend. At least that's what we're hearing that we can get started...the good news is...that we should be notified...[Friday] after markets close...This thing is looking like we're finally... reaching the end of what we've been waiting for...
[via WiserNow] ...everything is moving in the direction we want it to move...in terms of timing, there have been meetings ...big meetings with redemption center and some of the top bank personnel ...And ...
this particular meeting had a top tier treasury person on the call...this particular information that we received, We actually had it prior to this call, but the call verified it to us. We got it...from another couple of sources and the gist of it is that we should be notified by...Thursday, which is the 31st. And we should start our exchanges either Thursday, or Friday, which is the first of September...Intel is aiming to come together to bring this finally to fruition...We're excited about it.
A specialist presents 7 observations related to the oil and gas law and points out several negatives
2023-09-01
A specialist presents 7 observations related to the oil and gas law and points out several negativesToday, Friday, economist Nabil Al-Marsoumi made seven preliminary observations about the third edition of the Oil and Gas Law for the year 2023, while pointing out several negative aspects of the law.
Al-Marsoumi said in a blog post that “the new third version of the draft oil and gas law is not much different from the previous two versions in 2007 and 2011, and some observations can be made on the draft oil and gas law for the year 2023 as follows:
First: The legislation of the oil and gas law was supposed to precede the establishment of the national oil company, and that the president of the company should be represented in the Federal Oil and Gas Council.
Second: There is no need to involve the Governor of the Central Bank in the Federal Oil and Gas Council.
Third: It seems that the Iraqi legislator has taken advantage of the Federal Court’s decision in February 2022, which considered oil and gas activity in the region illegal, as well as the decision of the International Trade Court in Paris in March 2023, which prevented Kurdistan from using the Iraqi-Turkish line, which led to the cessation of the region’s oil exports. This investment is evident in the nature of the formation of the Federal Council, which is dominated by the central authority, and in the nature of the great powers enjoyed by the Federal Council for Oil and Gas, in exchange for very limited powers for the region and the producing provinces that are not organized in a region.
Fourth: The need for the law to include the principle of weighted voting in the Federal Oil and Gas Council according to certain criteria, such as having two or more votes for the governorate that produces more than one million barrels of equivalent per day.
Fifth: Article 8 of the law states that (the Federal Ministry of Oil shall manage the oil and gas producing fields throughout Iraq in coordination with the producing region and governorates), and the explored and undeveloped fields, as well as the exploratory patches and how to manage them, were not addressed.
Sixth: The law did not give an important role to the region and the producing governorates that are not organized into a region in drawing up strategic policies related to the development of oil and gas, which is inconsistent with Article 112 second of the Iraqi constitution, which states (the federal government and the governments of the producing regions and governorates together draw up the necessary strategic policies for the development of oil wealth And gas in order to achieve the highest benefit for the Iraqi people, adopting the latest technologies, market principles and investment encouragement).
Seventh: The law did not include any article indicating how to deal with contractual obligations with foreign companies, especially the production-sharing contracts that it signed with Kurdistan 15 years ago, which are subject to mandated international arbitration in the event of breach of contractual obligations between foreign companies and the region.
Economist: The path of development will reduce unemployment and reduce dependence on oil as a source of budget
9-1-2023
Economist - The path of development will reduce unemployment and reduce dependence on oil as a source of budgetInformation / Baghdad..
Hashem Al-Baydani, a researcher in economic affairs, confirmed, on Friday, that the unemployment rate will be significantly reduced in the event of proper planning for development path projects, pointing out that the revenues of this path can reduce dependence on oil as a source of financing the budget.
Al-Baydani told Al-Maalouma, “The aforementioned road can push the Ministry of Industry, as well as private sector companies, to invest large areas near this road to establish factories and laboratories, and open the door for investment in front of international companies to bring their factories to Iraq to reduce transportation costs.”
He added that “constructing the road and opening projects on both sides of it can eliminate a large percentage of unemployment, since most factory owners want to export their products at reduced transportation costs, and this can be achieved by offering land near the road for investment or rent.”
And he indicated that “the establishment of factories, laboratories and projects on both sides of the road needs thousands or millions of workers and specialists, and this is something that can be invested in the right way and open the door for giant companies to invest, provided that the labor force is Iraqi, and it is possible to reduce customs duties or grant permits to open factories and factories for foreign investors.” With the aim of introducing new revenues to the country and reducing unemployment rates.
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: Happy Saturday everyone.
Member: It’s a 3 day holiday weekend…Happy Labor day….hope this is the 3 day weekend we have been waiting for.
MZ: CCBD Gurus are for the first 30 minutes.
MZ: Other than chatter- not much on the RV front….but I should have MilitiaMan coming on today (at about 45 minutes in )
MZ: We continue to get good news from Iraq….They are on a holiday from now until Thursday . This would give them a tremendous opportunity ….and a lot of chatter in Iraq that they are going to take this opportunity this week to put things into place.
MZ: We should have more details by Monday morning of what to expect this week. Many indicators from Iraq about next week.
MZ: Redemption folks working a few short hours tomorrow. That does not mean we are redeeming this weekend…..but it’s a good sign.
Member: Many say something big is coming …Something will happen on or around Sept 23rd
MZ: I am hearing that from many sources. That from now to that date in September we will most likely see it all come to a culmination. …so that is pretty exciting.
Member: we were told the 5th from Zurich people
Member: EOs end the 11th, so I'm thinking everything goes down before then. Black Swan Event, metals rise, etc
Member: many say stuff will happen all at once
Member: I wonder if all nations will revalue at the same time?
MZ: We now have the illustrious MilitiaMan joining us today.
MM: Glad to be hear…..thanks for having me
MZ: I have been telling them with the extended holiday this week between now and Thursday the indicators seem to be really coming together. We see that 1132 rate all the time behind the scenes. but the CBI has a different rate that is published. . What is your wrap up for this week?
MM: I wrapped up this week talking about all the progress that has been made. What has been done since January. Big things like joining the World Trade organization as an observer status ., which has been ongoing since 2004.
MM: in February to August we see they are gearing up for full ascension to the WTO and this is a big deal. They will be out in the world economy again and in the global financial system.
MM: My understanding is they have the security and stability in the country ….enough that we can see all the countries making deals and doing things with Iraq. …Iraq is going to make a lot of money.
MM: once they have an article 8 exchange rate …that is required. For full ascension…all of us will have a different venue in a short period of time.
MZ: The WTO is big and it’s been percolating in the back since January. My sources told me years ago that when we saw them join the WTO- then it was done. They would have to be fully international for that.
MM: I think they will have a new exchange rate at the same time. IMO they probably have to have that even before for full ascension to the WTO. We can also see that the World Bank in the last few days about their support and what they are going to help do.
MM: There are specific components in that Ascension …One of the things is specifically is Iraq needs trucking and roads for the Iraq development road project …the Chinese side is the Silk road project. …All of these things are coming together at the same time .We have seen that within the last 5 days and it’s a big indicator of what is going on.
MM: The US ambassador was there the same day as the World bank. They have had some meetings in Iraq. I believe it is possible (according to articles) that the US Treasury has shown up again to get things done properly. If you remember in the news….there were some politicians who were not happy about it….they may have been embarrassed or got caught with their hands in the cookie jar….or got caught doing things that shouldn’t be done….or undoing things that shouldn’t be undone.
MZ: I think the UST being there is a huge indicator. To me it is anyway.
MM: The progress they are making is a grounding foundation that we can see. Iraq has the tripartite budget for 2023, 24 and 25 and in articles they are saying they only reason they are doing some of these deals is it is written in their budget. These are international projects written into their budget. Lots of little pieces tell us we are getting close.
MZ: These are BILLIONS in projects…and the money is coming from where???
MM: We all know it’s going to far cheaper to adjust their exchange rate and pay for all of these things. And with this holiday coming up on the 6th and 7th…some of the provinces have started as of yesterday...and continue to Thursday.
MZ: I made some calls and it seems that most of the Iraqi businesses are closed until the 7th. That’s kind of interesting. The news is definently on track
Member: Thank You Militia Man and Mark…. God Bless you both.
Member: What rumors are you hearing Mark?
MZ: That this is going to be the most epic week in the history of our lives. I am hearing all kinds of disclosure from now to the 22nd of September…and that our whole world is going to change. At least that is the rumors…you can take it or leave it. It certainly sounds great. If money starts moving this week then it should wrap up by the 3rdor 4th week of September.
MZ: I will be traveling this weekend. Back to the states for my daughter’s birthday. I will be stateside for the Monday podcast.
Member: Safe Travels Mark.
Member: Love, light, and prayers for everyone! Have a great rest of your weekend!
Member: Thank you MarkZ!! Thank you mods!! Have a blessed weekend and holiday eveyone!!
Mod: GUYS PLEASE DO MARK AND FAVOR AND "DO NOT" EMAIL THIS WEEKEND! THANKS
SATURDAYS GO TO: Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.
Vietnam follows progress of discussions on expanding BRICS membership
VOV.VN - Like many countries in the world, Vietnam is keeping a close watch on the progress made in discussions on expanding membership of the BRICS bloc of emerging economies.
Foreign Ministry spokesperson Pham Thu Hang made the statement in a reply to reporters' questions about information that the nation intends to join this group at a regular press conference held by the Vietnam Ministry of Foreign Affairs on August 17 in Hanoi.
Hang said, "As a pro-active and responsible member of the international community and consistently pursuing the foreign policy of independence, self-reliance, multilateralization and diversification of foreign relations, Vietnam is always ready to actively participate and contribute to global and regional multilateral mechanisms, organizations and forums.”
During the 15th BRICS summit which will be be held in South Africa on August 24, Vietnam is among the 71 countries invited to the event by the host country, the official said.
According to the spokesperson, within the framework of the 15th BRICS summit, there will be two conferences, including the BRICS and Africa and the BRICS Political Parties Plus Dialogue.
In line with this, the Vietnamese side is expected to send representatives to these meetings.
The BRICS are a group of economies consisting of Brazil, Russia, India, China, and South Africa formed after the addition of South Africa in 2010.
This year, South Africa holds the BRICS presidency, with BRICS countries now accounting for more than 40% of the world's population, generating over 30% of the globe's GDP.
