Finance and Politics Intertwine: A Deep Dive into the KRG-Iraqi Finance Committee Meeting, 18 OCT

 Finance and Politics Intertwine: A Deep Dive into the KRG-Iraqi Finance Committee Meeting

Amidst the labyrinth of political tensions and economic hardships, a slender thread of dialogue has been extended between the Kurdistan Regional Government (KRG) and the Iraqi Finance Committee. In a four-hour discourse held in the heart of Baghdad, Awat Sheikh Janab, leading the KRG delegation, and his counterparts from the Finance Committee, sought to untangle the knot of financial burdens plaguing the salaried employees in the Kurdistan Region.

A Struggle for Sustenance

The KRG, grappling with financial difficulties, has found itself in the throes of escalating disagreements with the central Iraqi government over the distribution of the region’s budget share. The result is a singularly human crisis: the inability of the KRG to pay its employees, triggering a wave of unrest and protests within the Kurdistan Region.

A Step towards Resolution

The recent diplomatic rendezvous is hailed as a promising step towards resolving the salary issue and thawing the frosty relations between the KRG and the central government. Both parties, recognizing the need to prioritize the welfare of Kurdistan’s salaried employees, have agreed to separate this matter from the broader political disputes. A beacon of hope, perhaps, in the murky sea of uncertainty.

Seeking Support in a Tumultuous Economy

The KRG’s financial struggles are largely attributed to the plummeting oil prices and the economic fallout of the COVID-19 pandemic. The region, heavily reliant on oil revenues, has been severely impacted, pushing it to seek financial support from the central government. In an attempt to diversify its economy, the KRG has been encouraging investment in industries such as agriculture, tourism, and manufacturing. However, these efforts are continuously undermined by the financial constraints faced by the region.

Meanwhile, the geopolitical landscape of the region continues to shift. From Libya, where protests erupted over a deadly strike on a Gaza hospital, to Israel, where the government halted military operations during US President Joe Biden’s visit. In Iraq, the development of a ‘Dry Canal’ road project is underway, aiming to connect the north and south, boost investments, and significantly alter international transport routes. Amidst these changes, the Iraqi government is courting foreign investment, inviting Spanish companies to contribute to the development road project and invest in sectors like transport and renewable energy.

But hurdles remain. Economic experts point out the lack of an industrial base and agriculture in Iraq, potentially impeding its entry into the BRICS group. Furthermore, the Central Bank of Iraq’s decision to raise the interest rate for bank depositors, part of its banking reform measures, reflects the country’s ongoing efforts to revitalize its banking system.

While these developments unfold, Huawei, the Chinese multinational technology company, showcased its latest artificial intelligence and digital transformation solutions at the GITEX Global 2023 exhibition in Dubai. A testament to the relentless march of technological evolution, even amidst political and economic turmoil.

In summary, the dialogue between the KRG and the Iraqi Finance Committee is not merely a meeting; it is a manifestation of the shared human will to overcome adversity. It is a testament to the power of dialogue in resolving crises and the potential for cooperation amidst conflict. As the region witnesses a confluence of protests, diplomatic visits, infrastructure projects, and technological advancements, the plight of the salaried employees of Kurdistan remains a stark reminder of the human element embedded in the grand narrative of politics and economics.

https://bnn.network/politics/finance-and-politics-intertwine-a-deep-dive-into-the-krg-iraqi-finance-committee-meeting/

The Central Bank Denies “Information” Issuing A New Category Of Local Currency, 18 OCT

 The Central Bank Denies “Information” Issuing A New Category Of Local Currency

   October 16 14:18  Information / Baghdad..  The Central Bank of Iraq denied, today, Monday, that the bank has any intention to issue a new currency or a small or large denomination during the current period.

A member of the Board of Directors of the Central Bank of Iraq, Ahmed Barihi, said in a statement to “Al-Ma’louma” that “talk about issuing a new currency by the Central Bank of Iraq is not true at the present time.”  Berihi added, “If a new denomination of currency is issued, whether small or large, it will not affect the exchange rate of the dollar against the dinar, but rather it will only serve and facilitate transactions in the simple market.”

A member of the Board of Directors of the Central Bank of Iraq pointed out that

"the Iraqi currency is stable and the existing denominations are sufficient."

A member of the Parliamentary Finance Committee, Representative Nermin Maarouf, announced in press statements that

the committee will discuss with the Governor of the Central Bank the feasibility and motives behind taking the decision to issue the 20,000 dinars denomination, the

financial value of this denomination and  other details related to its expected issuance. Ended / 25 AD

 https://almaalomah.me/news/43892/economy/البنك-المركزي-ينفي-لـالمعلومة-إصدار-فئة-جديدة-من-العملة-المح

Bruce’s Big Call, 18 OCT

 Bruce’s Big Call Dinar Intel Tuesday Night 10-17-23   REPLAY LINK   Intel Begins   1:07:07

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHxVo

Welcome, everybody the big call tonight. It is Tuesday, October 17th and you're listening to the big call. Thanks, everybody wherever you're located around the globe. We had we were in 201 countries on last Thursday's call - Let's see how many we have had 28.5 - 28 point 6 million listeners confirmed tag back to us that listen to the call and that's a record. That's the most the largest reach we've had so far, Internationally. So thanks so much to the satellite team for putting that together. And hopefully we have a similar reach on our call tonight. Alright, let's see. Where are we tonight? You know, I'll start with this. We don't have a speaker of the house yet But I know Jim Jordan, they put a third vote through today, in in the house, and he got 200 votes he needs 217 Now, tomorrow, they're supposed to have another vote. Maybe that'll do it. I think that's important for us. It may not be absolute, but I think it's important for us to move into the arena of political change that we're looking forward to. So let's see what happens with that. All right, outside of that, we do talk to redemption center people occasionally, and tell them some of the top let's just call it the top Wells Fargo personnel - And where we stand right now - is yesterday at the redemption centers. - They were doing a series of I believe five video conference calls, five in one day. That's a lot. We don't know who they're with. We can only presume who they might have been with based on the past and based on Treasury calls and calls with other bankers calls that are maybe international versus calls that are domestic throughout the US. But that occurred yesterday. And I know that where we are today we've got a consensus of redemption centers, staff and top Wells Fargo personnel that are suggesting the same thing and that is they are looking for an email tomorrow morning between 10 and 11 - Eastern time tomorrow. That would most likely go out not only to tier one banks, but also at least to the redemption centers. And it may go out to all the banks. I don't know that. But we know that the redemption centers are looking for it between 10 and 11 in the morning, that would give them a heads up as to notifications - we think are going out tomorrow. It's not absolute, but the notifications come in by email from Treasury between 10 and 11. And it suggests that go ahead for us. We could very well get notified tomorrow. Now, what else? When we get notified - Especially if it's - well, let me put it this way. If we were to get notified before noon, It would be quite possible we would start exchanges on that same day in the afternoon and evening. So in the case of tomorrow, we got it before noon. We can maybe exchange tomorrow afternoon / tomorrow evening - which is Wednesday. Tthat would be great. Now, it doesn't mean that even if they get the email between 10 and 11 that we get notified then. We could get notified in the afternoon. We could get notified overnight. We don't know exactly when to do it and neither do the redemption centers and neither do the top Wells Fargo people. They're just going to have to get in when they get it. So our hope is that we get notified - we set our appointments - and at least start Thursday. That's what I'm hoping that we'll see if that's what manifests I mean, there's so much stuff going on around the globe. And we do need a number of things to get ready to come out. I don't know that they all have to come out before we get notified. We're supposed to still go on a shotgun start with our bondholders and with our other brothers in tier 4A - brothers and sisters in the admirals groups. But I'll say this I think that the shotgun start could be and we've heard it said several times to us. That happened within a 10 to 12 hour period of each other. The bondholders might get access to their funds that such and such. We may get our notifications at such a time – set our appointments to begin in such a time - and the whole thing and the admirals groups, emails and notifications to their participants would go out. It all should occur within about a 12 hour period. it may be tighter than that. It may happen within a two or three hour period. but it should occur within 12 hours of each other. That's what I mean by that is a shotgun start. So you know guys, we've been awfully close before, or at least we thought it was that case. And now we're at that same point of could it happen? Could it happen tomorrow? I don't know - but I'd say one thing. Redemption centers and top executives for the banks are looking for that email to occur between 10 and 11 in the morning. We don't know what it's going to say we think it has to do with the release of notifications, for us. Bondholders still do not have access to funds yet. They would be looking for an email as well that would give them access to funds. And then they have some spendability - they've only had what I call walking around money so far, that's been allocated to them. And it hasn't been a lot. It's been a little something but it hasn't been anywhere near the 1% or 10% or whatever their arrangement is, of what they're going to get. And so, you know, we're gonna have an opportunity to move approximately $1.2 billion into each of our LLC accounts - From our quantum account when we go in. So in the case, in my case, I've got four LLCs. I should be able to move about 1.2B into each account. They're already set up. I mean, the accounts aren’t but the LLCs are set up. That's how I'm choosing to do it. Not the only way to do it. It's just the way that my attorney and I have talked about and decided to do it that way. So I think you know what I'm doing four accounts because one is for rebuild America, one for rebuild international ones for veterans retreat network and one's for the pastoral retreat. But we've got four LLC for four separate projects. You obviously don't have to do it that way. I'm doing it that way, you know, just for accounting purposes and whatever else. So I'm looking forward to it. Remember our appointments are only supposed to last about 30 minutes now. Not 40 like we were taught about a couple of months ago. Now we're looking at trying to get everything done in 30 minutes they're going to have three delarue machines at each redemption center that they can literally - If you had three or four or five different currencies, they can run them quickly through three different people operating those delarue machines at the same time - And that's gonna be cool to listen to that happen - (sound of money counting machine) simulated. So that's exciting. And obviously what's more exciting is what we're going to be able to do with these resources for humanity with our projects and to be prepared for those projects - You need to be as prepared as you can be between now and the first six months, maybe a year. That's really the majority of everything we think I can tell you this. What we got in report today was all the rates are extremely good. And we know that the dinar came back up on the Forex yesterday and came back up on the streets for trading on forex and on the bank screen today. The rates are very good. And I think everybody will be super pleased with that. I don't know if there's anything - you know, it's funny yesterday, and even the day before so that would have been like Sunday and Monday. We had very little information in fact yesterday was sort of a dud because it didn't really bring us much of anything. Today was a little bit better even though we are still waiting for those emails morning. So I'm talking about the ones going to the redemption center centers and the banks that if those turn out positive, then we should operational words “should” be notified as early as tomorrow. But let's see what happens. It’s kind of exciting but you know as well as I do, you know nobody's information in 100% including mine. I do the best I can to bring what I get from several sources, multiple sources, and sometimes we're right on the verge of it. And then something happens and we're not there. So we hope that this is it. I'm looking forward to getting notifications just like you guys. So thanks everybody for tuning in tonight. So thanks for listening everybody all over the globe. Thank you for we finally met we were looking to get 200 countries. On Thursday. We got 201 out of 209. We got two old ones. And I don't think we got to Israel or couple others in the Middle East. That might have been where we were a little short on on Thursday night but hopefully tonight we're reaching quite a few countries. The main thing is that we are looking forward to receiving this blessing. So in a very timely manner here. So let's pray the call out. and then we'll say goodnight for tonight and look forward to see what happens in the next couple of days.

"ANALISIS OF NEWS OF IRAQ" BY SANDY INGRAM, 18 OCT

Sandy Ingram 

 Article: "Iraq Economy News for 2024, According to the IMF is not Good, Iraq Says Differently"  

What the IMF is saying is Iraq's economy forecast is leaning towards a negative because countries with currencies pegged to the US dollar, except Iraq's central bank, have followed the US fed's footsteps and adjusting the interest rates accordingly. 

  In other words Iraq did not follow in the footsteps of the Federal Reserve and as a result the IMF sees Iraq's inflation rate at or around 9% in 2024 rather than at 3.5% the the Iraqi minister of planning announced.  The 5.5% difference is enough to be concerned about.

 Article:  "35 million lost every day: Shutdown of Iraq-Turkey oil pipeline has hurt stat and oil companies" 

 In total Iraq lost $7 billion USD.  Turkey has officially notified Iraq the oil pipeline is ready to be reopened...

Protests Emerge Outside the US Embassy in Baghdad, Iraq #shorts, 18 OCT

In the heart of Baghdad, a city steeped in a rich tapestry of history and conflict, a new wave of dissent has unfurled outside the US embassy. The bone of contention: Israel’s devastating airstrikes in Palestine, which have culminated in over 500 fatalities. This public outpouring is one manifestation of a broader swell of protests that has surged across the Middle East and North Africa, a poignant echo of solidarity with Palestine that resonates in the face of escalating violence and rising civilian casualties.

These protests, like a wildfire of indignation, have sparked across countries such as Iraq, Lebanon, Jordan, Iran, and Turkey. They stand as a collective testament to the outrage against Israel’s actions, their voices amplifying the silent cries of Palestine. The catalyst for this uproar was the deadly Israeli air attack on the Al-Ahli al-Arabi Hospital in Gaza – arguably the most catastrophic single attack since the start of the Israeli-Hamas war. And while Israel has denied responsibility, the World Health Organization’s condemnation and call for the protection of Gaza’s civilians and healthcare workers reveal the depth of the crisis.

The protests have spread far and wide. From Iran, where crowds thronged outside the French Embassy in Tehran, to Turkey, where protestors outside the Israeli consulate were scattered by the police. In Lebanon, Iraq, and Jordan, protestors attempted to storm the Israeli embassies or consulates, their sentiments a mirror reflecting the region’s long-standing anti-Israel sentiments .

A Global Outcry

Yet, the scope of these protests is not confined to the Middle East and North Africa. In Libya, hundreds marched through the streets of Tripoli, their hands bearing Palestinian flags, their voices chanting slogans of support for Gaza. Reports of protests have also filtered in from Yemen, Morocco, and Tunisia. These global demonstrations underscore the shared anger and disdain for Israel’s actions in Gaza, fueled by decades of oppression and violence against the Palestinian people.

But the international community isn’t merely a silent spectator. US President Joe Biden, who happened to be in Israel during these protests, expressed his grief and outrage over the hospital blast. He even hinted that Israeli forces might not have been responsible. The United Arab Emirates and Bahrain, which established ties with Israel under the Abraham Accords of 2020, have also condemned the attack. The United States has raised its travel alert for Lebanon and greenlit the voluntary departure of US government personnel’s family members, while Israel’s national security council has warned against travel to Turkey.

The protests, then, are more than just an outpouring of anger and frustration over the Israeli-Palestinian conflict. They represent a broader sentiment of solidarity with Palestine and a condemnation of the violence and civilian casualties caused by the Israeli airstrikes. And as the death toll continues to rise and the violence escalates, it’s clear that the situation remains far from resolved. The protests, a testament to the deep-rooted anti-Israel sentiments in the region and the strong emotions the conflict arouses, are likely to continue, a stark reminder of the human toll of this seemingly endless conflict.

Coffee with MarkZ and Andy Schectman. 10/18/2023

MarkZ  Update- 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 Wednesday morning…..Trying hard not to ask “Are we there yet?”  lol

Member: Can I have an RV to go please? Is this the right drive thru?

Member:  I feel like Linus on Charlie Brown just sitting in the Pumpkin Patch waiting for the Great Pumpkin to arrive, while all of my friends are out trick-or-treating, oblivious to the Great Pumpkin arrival!

Member:  Mark are we close. just asking for a friend

MZ:I think we are close…..It certainly feels close. 

MZ: I was expecting a lot more news today…especially out of bond sources….they are still hearing conflicting info as to if its now…or when the conflict overseas is settled. There are some with appointments this Friday and they are expecting full funding….There are also a couple appointments for over the weekend…..we shall see…..they had also expected full funding 2 weeks ago. It is interesting getting so many different stories from the bond side.  

Member:  I thought that the bondholders money was going to be released when we went in??

MZ: MilitiaMan did a good video …he is talking about what we mentioned yesterday…..Instead of the dollar at customs and duties…there is de-dollarization. They are making certain that everything is conducted in dinar from here on out.  For government function they can only use dinar….no other currencies. 

MZ: “Government revisits using “Gold Dinar” as reserve currency”  According to the Prime Minister of Malaysia……..and this is yet another story from the PM that they will reinstate a “Gold Dinar” Many countries have realized they need to go to commodity backed/gold backed currency. 

Member:  Don’t get it Iraq acting like they have a new rate … but yet no new rate nor operational budget nor HCL … frustrating

Member:  Iraq needs to borrow Kuwait RV Team and get this done!!

Member:  (From Dinar Guru)  Mnt Goat   The saga about the Iraqi dinar RV only gets better as the months roll on. More and more pieces are put in place for the inevitable revaluation and reinstatement of the dinar. It has become not a matter of “if” these events will occur but “when”.

MZ: It is absolutely a “When” not an “if” 

Member: Mark can this really happen with all the wars going on, Or dose the fighting have to be over.?????

Member: while the world is watching Isreal, banks keep folding....the financial system can't keep going this way...

Member: What do you still expect as the rate for the dong?

MZ: I still expect the low $2 range….$2.25 ish. But, most of my sources say it could be more in the $3 dollar range….we shall see. 

Member: 5 RV’s have happened since World War 2

MZ: Bam….yes they have. There is a lot of historic precedence for what we are going through….. 

Member: Do we need a new speaker of the house before Iraq can move forward?

MZ: We are being told that the ball is in Iraq’s court now….so no…..

Member: I’ve been on this journey since 2016 and it’s been hell

Member: it almost over ! been waiting since 2017

Member: I have been waiting since 2007……I agree- it has been hell…..praying there is a light at the end of this loooong train tunnel

Membeere:  y'all just be patient. When this does finally happen. it will be a great blessing. Just do the best you can with what you have until then.

Member: Everything could change suddenly in the blink of an eye……

Member:  I am not sure I am going to believe when this thing actually happens - I'll be in shock for sure….A good shock

Member:  Mark and Mods thanks for all you do!

Andy Schectman from Miles Franklin joins the stream at the end….please listen to the replay for his opinions and 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 IN MARKZ’S OPINION ONLY

PM al-Sudani denounces Israeli attacks on Gaza as genocide, full-fledged war crime, 18 OCT

 PM al-Sudani denounces Israeli attacks on Gaza as genocide, full-fledged war crime, 18 OCT

Shafaq News/ Iraq's Prime Minister Mohamed Shai al-Sudani on Wednesday condemned the ongoing Israeli attacks on the Palestinians in Gaza as a full-fledged war crime and an act of genocide.

Al-Sudani's came during a meeting with Arab parliament speakers and members participating in the 35th Arab Parliamentary Union's emergency conference, held in the Iraqi capital, Baghdad, to discuss the evolving situation in Gaza.

Al-Sudani reiterated Iraq's unwavering commitment to the Palestinian cause, calling for an urgent action to support the Palestinian people who are facing "blatant aggression and a full-fledged war crime, an attempt at genocide, as Israeli authorities have relentlessly targeted innocent civilians."

He also condemned to the recent ruthless bombing of a hospital in Gaza on Tuesday evening, an act that resulted in the loss of hundreds of lives, including children and women.

"This heinous act, which goes against all international conventions and humanitarian law, further underscores the need for immediate international intervention," he added. 

The premier called upon the international community, parliamentary and political entities, to come to the aid of the oppressed Palestinian people, ensuring their full legitimate rights to establish their state on their homeland.