"RV UPDATE" BY PIMPY, 7 NOV

 Pimpy 

 The only reason why people are picking up dollars on the black market...is you can get a lot more Iraqi dinars than you could at the official exchange rate at the Central Bank of Iraq. 

 So if you're trying to make ends meet and you happen to get your hand on dollars because you got relatives over there in the United States making good money and they're sending some money back to you well of course you want your dinars to stretch.  

You're going to  get more dinars for your dollar...Iraq needs to increase their exchange rate so the desire to want to get rid of your dinars decreases and people start using the dinars and not needing a dollar so much...

It's definitely going to revalue.  They're under sanctions, as soon as the sanctions are lifted and Iraq can get their crap together then definitely it'll be done...

If they remove the sanctions I'm curious to see if they're going to go up in increment or are they going to just reinstate the $3.22 rate.  That's always a possibility...

Released from their sanctions that's what we're really waiting for.  So even if we woke up in the morning and you found out the Iraqi dinar had been reinstated to
$3.22, Hallelujah, We're rich right?!?  

Jumping around celebrating. But where are you going to redeem your dinar at if they are still under sanctions?  Your options are going to be very limited here in
the United States.  Chase Bank still deals with the Iraqi dinars but
not a lot of other companies or banks do just because of the
sanctions...Will they be released from their sanctions before the
revaluation or if they do an RI will they be released from their
sanctions?

Oil rises after Saudi Arabia and Russia commit to voluntary cuts. Brent at $85, 7 NOV

 Oil rises after Saudi Arabia and Russia commit to voluntary cuts. Brent at $85

Baghdad Today - Follow-up

Oil prices rose on Monday (November 6, 2023), after Saudi Arabia and Russia, the world's two largest oil exporters, confirmed the continuation of voluntary cuts in their production until the end of the year, which keeps supply tight while investors await tougher US sanctions on Iranian oil.

By midnight GMT, Brent crude futures were up 41 cents, or 0.5 percent, at $85.30 a barrel, while US West Texas Intermediate crude was at $81.05 a barrel, up 54 cents, or 0.7 percent.

In line with analysts' expectations, the Kingdom confirmed it would continue to reduce its voluntary output of one million bpd, bringing its output to nine million bpd in December, an energy ministry source said in a statement.

The source stressed that "this additional voluntary reduction comes to strengthen the precautionary efforts made by the OPEC+ countries with the aim of supporting the stability and balance of oil markets."

Following the Saudi statement, Moscow also announced a continuation of voluntary production cuts of 300, <> bpd from its crude oil and petroleum products exports until the end of December.

Both contracts saw their second consecutive weekly decline last week, down about 6 percent, driven by a easing of the geopolitical risk premium that arose from fears of supply disruptions due to the potential for conflict in the Middle East.

Israel on Sunday rejected mounting international pressure for a ceasefire as the US secretary of state sought to contain a crisis that threatens further escalation in neighboring Lebanon.

ANZ analysts said in a note: "The risk premium associated with the geopolitical background has completely disappeared after two weeks of volatile prices."

"Market focus has shifted to demand expectations that remain uncertain," they added.

Investors this week are looking for more economic data from China after the world's second-largest oil consumer reported disappointing factory data for October last week.

Tony Sycamore, analyst at IG Markets in Sydney, expects oil prices to be weighed down by news from the Middle East and technical charts this week.

He added that WTI crude needs to stay above the support level of $80 a barrel early this week, otherwise prices could fall to the low of $77.59 hit in August.

The US House of Representatives on Friday approved a bill to strengthen sanctions on Iranian oil that would impose measures on foreign ports and refineries (TADAWUL:2030) that refine oil exported from Iran if it is signed into law.

The Iraqi Parliament "ends" its legislative term with "pending" calls to hold emergency sessions , 6 NOV

 The Iraqi Parliament "ends" its legislative term with "pending" calls to hold emergency sessions

11/6/2023

The Parliamentary Strategic Planning Committee revealed, on Monday, the end of the legislative term of the House of Representatives, while there are many requests to hold sessions regarding resolving many laws and decisions, indicating that the current year will not witness the holding of any parliamentary session.

This comes after a number of members of the House of Representatives called for emergency sessions to discuss the situation in Gaza on the one hand and to discuss closing the American embassy on the other hand.

The Vice Chairman of the Committee, Muhammad Al-Baldawi, told Shafaq News Agency, “The oversight role of the House of Representatives continues and has not stopped, an d there is a presence of members of the House of Representatives in the parliamentary committees to follow up on the departments and ministries according to the work of the committees.”

 He stated that “the current legislative term of the House of Representatives will officially end on the 9th of this month, and the data indicate that it is not possible to hold any session due to the preoccupation of many members of the House in preparing for the governorate council elections,” stressing that “the current year will not witness the holding of any parliamentary session and will resume holding.” Sessions in the new legislative term at the beginning of next year.”    LINK

2ND RELAXING VIDEO 11-6-23

"RV UPDATE" BY TEXAS SNAKE, (SPANISH & ENGLISH), 6 NOV

 Sábado 04 Noviembre 2023

21:35 P.M. Hora TEXAS USA

Texas Snake: Dice

— El banquero es lo más intenso que jamás le he escuchado en relación con que esto sea un GO, así que oren, estamos aquí.

Saludos

Hernán

------

TRANSLATION IN ENGLISH:

Saturday 04 November 2023 21:35 P.M. Time TEXAS USA

 Texas Snake: Says 

— The banker is the most intense I've ever heard him say about this being a GO, so pray, we're here.

 Greetings Hernan

Progress is developing the second largest oil field in Dhi Qar, 6 NOV

 Progress is developing the second largest oil field in Dhi Qar

Dhi Qar Oil Company announced significant progress in implementing engineering and service projects in the second-largest oil fields in the governorate on Sunday.

The company mentioned in a statement received by [insert recipient], that the projects are being implemented based on the directives from senior management at Dhi Qar Oil, aimed at increasing the production capacity of the Sabah oil field and improving the work environment for employees.

She listed various projects including ones for the mobile station site, IT building, evaporation basin, service road rehab, and cafeteria building.

It was pointed out that there are other plans to rehabilitate the main road networks and bridges that connect to the central and northern stations. Additionally, service buildings and roofs will be constructed.

A law that specifies 5 conditions that must be met by the candidate for governor of the Central Bank, 6 NOV

 A law that specifies 5 conditions that must be met by the candidate for governor of the Central Bank

On Sunday, legal expert Ahmed Al-Bawi commented on the circulating names and the potential nomination of a new governor for the Central Bank of Iraq. Al-Bawi emphasized the importance of meeting five specific conditions for any candidate seeking to fill this position.

Al-Bawi stated in an interview with “Jarida” that the selection of any individual for a position of responsibility must be based on solid principles, primarily integrity, followed by scientific expertise, administrative experience, and the courage to make bold decisions, especially in light of the challenging economic situation that the Iraqi economy is currently facing.

“The candidate needs to propose innovative and practical solutions to prevent the further appreciation of the US dollar and the devaluation of the Iraqi dinar. They should also ensure that the political leaders provide assurances for the restructuring of the central bank and other financial institutions and eliminate any corrupt practices that are currently impacting the currency auctions.”

He stated that the ideal candidate should have a clear plan for handling the American Federal Reserve. It is also acceptable if the candidate has a distinguished background in international relations, as long as they use their experience to benefit the public. Additionally, Iraqi law prohibits any individual from holding a position if they have ongoing cases or charges against them in the Iraqi courts. However, it has yet to be determined whether these requirements will be enforced.