Monday, December 4, 2023
"RV UPDATE" BY MILITIAMAN, 4 DEC
Militia Man
Article: "It's time for the Iraqi economy to be linked to the global economic cycle. Al-Sudani stresses the government's endeavors to achieve an industry that exports its product outside Iraq."
That's exactly what we need. Everybody knows Iraq has been an import country and they've been using oil as a revenue stream. N ow they're going to go from a rentier oil industry to a non-oil revenue stream country...You have the industrial cities, liquid natural gas, tourism, agriculture...Iraq is filthy with minerals.
What we're seeing is probably one of the most exciting times we've ever been in and there's more to come...
We all see the writing on the wall at this point in time that Iraq is going to go international. They're going to be part of the WTO. With them going to the private sector you can just see it's going to be a robust economy in this country.
The President Of The Republic: There Is No Dollar Crisis In Iraq, 4 DEC
The President Of The Republic: There Is No Dollar Crisis In Iraq
President of the Republic Abdel Latif Gamal Economy News – Baghdad On Monday, President Abdel Latif Rashid denied the existence of a “dollar crisis” in the country.
Rashid stated in a television interview followed by “Al-Iqtisad News” that “Iraq’s situation now is good in terms of security, and this is greatly reflected in economic stability. Until a few years ago, we suffered from the repercussions of security instability on the economy, and we are ready to implement the government’s program that aims to To improve infrastructure in all fields, including energy, water, housing, roads, bridges, etc.
Regarding the country's economic situation, and his recent visits to Azerbaijan and Armenia, the Iraqi president stressed "the need to attract investments from various friendly countries."
He continued: “At the same time, our focus is on providing services to the Iraqi people, as the country suffers from an old state of neglect, and the government is taking seriously to improve the service situation in terms of education, health, agriculture and other fields. We encourage cooperation with investors, and starting energy, water and agricultural projects, not Especially since Iraq’s budget is now better than before.”
In response to what is being raised about the dollar crisis in Iraq, Rashid stressed that there is no dollar crisis, and that the issue is related to the change in the dollar exchange rate from time to time.
He added, "Until recently, Iraqi markets were open to any foreign currency, and this does not help the Iraqi currency. Therefore, we took some measures to strengthen the dinar's strength and control the market."
The Iraqi President stressed that his country's economic situation is good, both on the general level and on the individual level, but at the same time he pointed out that there are problems related to unemployment and others: "We hope to improve the situation and encourage the private sector to contribute to providing job opportunities for university graduates."
12/04/2023 - https://economy-news.net/content.php?id=38144
Coffee with MarkZ. 12/04/2023
The 2023 budget loses its “explosive” character: the year will end with only 58% of it being spent, 4 DEC
The 2023 budget loses its “explosive” character: the year will end with only 58% of it being spent
The 2023 budget approved by the Iraqi parliament last June was described as an “explosive budget” and the highest in the history of Iraq’s budgets, as it amounted to 199 trillion Iraqi dinars, but as the end of the current year approaches, it is expected that only 58% of the budget will be spent.
Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, said, “The committee had a meeting with the Budget Department inMinistry of FinanceWhat has happened so far is the release of allocations to governorates and ministries, but not in the required manner,” noting that “what was spent during the first six months amounted to 47 trillion dinars,” according to the official Al-Sabah newspaper.
Al-Kadhimi added, “In the second six months, the spending rate will reach more than 70 trillion, and thus we will not have a budget deficit, but rather there will be a surplus,” stressing that “next year will be without a deficit.
Al-Kadhimi pointed out that after the elections are completed, more allocations will be made to governorates and ministries to implement projects, which will lead to the advancement of the government program presented by the Prime Minister.
Accordingly, the total amount that will be spent will amount to only 117 trillion dinars during the current year, an amount equivalent to only 58% of the total budget amounting to 199 trillion dinars, which was described as the highest in the history of the country.Iraq. link
"RV UPDATE" BY BEARDED PATRIOTUSA, 4 DEC
Bearded PatriotUSA
Telegram post
12/3/23
Forwarded from Wolverine:
China is going to float U.S. gold price to $2,500 this week to break the U.S. Banks,
OPEC countries now hold Renminbi.
OPEC did another 1mm bbl production cut on Friday December 1st
China will break the U.S. gold paper contracts,
China will break the U.S. Treasury bond market,
The Reverse Repo will be drained to ZERO this week!
The G-SIB’s will all collapse.
ANSWER; ISO 20022 prevents the Fed from ever doing QE again.
Basel III
U.S. Treasury bonds no longer serve as the (global reserve asset) collateral that trades oil to value America’s debt.
China is now coordinating the float the gold price to $2,500 this week to coincide with the Reverse Repo drain.
P.S. see my 11:26PM tweet from last night.
Mike Cristo8
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