Iraq renews its support for the OPEC Plus agreement and commitment to voluntary cuts, 9 DEC

 Iraq renews its support for the OPEC Plus agreement and commitment to voluntary cuts

On Thursday, Iraq’s Deputy Prime Minister for Energy Affairs and Oil Minister, Hayan Abdul Ghani, reiterated Iraq’s full support for the OPEC+ agreement and the decisions made on November 30, 2023.

According to a statement from the Ministry of Oil, Abdul Ghani led a meeting with officials from the Iraqi Oil Marketing Company SOMO. During the meeting, they emphasized Iraq’s support for an agreement to achieve balance and stability in oil markets.

“Iraq has announced that it will reduce its oil production to 4 million barrels per day from January 1, 2024, until March 31 of the same year, in line with the reduction program. The country’s representative expressed appreciation for the measures taken by the OPEC+ group to maintain balance and stability in the oil market.”

Ammar Al-Anbuki, the Director General of the Iraqi Oil Marketing Company, has confirmed that Iraq, being the second largest producer of crude oil in OPEC, will continue to support the efforts of the organization and its allies as per the Declaration of Cooperation in (OPEC+), in compliance with the latest developments in the oil market.

Al-Anbuki stated that the OPEC+ agreement and the voluntary reduction decisions made by both OPEC and non-OPEC producing countries are intended to tackle the challenges and changes currently faced by the oil market. These initiatives aim to minimize the impact of these changes on the market’s stability.

The Prime Minister’s Advisor summarizes the importance of activating the partnership between the Iraqi and Saudi private sectors, 9 DEC

The Prime Minister’s Advisor summarizes the importance of activating the partnership between the Iraqi and Saudi private sectors

Mazhar Muhammad Salih, the Prime Minister’s Advisor for Financial Affairs, highlighted the significance of establishing a solid partnership between Iraq’s and Saudi Arabia’s private sectors. In a statement on Friday, he emphasized that the economic geography of both countries lays a strong foundation for collaboration in the Gulf and Middle East regions. Salih also pointed out the economic benefits that this partnership can bring about.

Saleh informed the official agency that the economy of the Kingdom of Saudi Arabia holds a significant position in the Group of Twenty countries, which is the world’s largest group in terms of economic growth and prosperity. Moreover, the economic geography of Iraq and Saudi Arabia plays a crucial role in the region’s economies, particularly in the Gulf and the Middle East, where they have a pioneering economic role in managing the world’s energy market.

Saleh mentioned that the oil production of Iraq and Saudi Arabia is second to none, making both countries essential players in global oil production. Additionally, both countries occupy the top position in religious tourism, further increasing these two giant economies’ economic attraction and relative advantages. This leads to a high degree of economic interconnection, particularly in the industrial and digital investment fields, as well as other areas of economic progress.

He highlighted, “The identification of the strongholds of the two adjacent nations is a significant step towards merging markets and collaborating in economic and investment ventures. These pillars of strength have been acknowledged by the Prime Minister as crucial factors in shaping the partnership between our two nations.”

“The Kingdom has experienced stability and economic growth over the last half century, which has led to economic prosperity in two areas. Firstly, there has been high economic diversification outside of the energy sector, with a focus on manufacturing industry. Secondly, the Kingdom has integrated into the global economy, embracing the latest technologies and taking advantage of opportunities for economic progress.”

Saleh said, “It is well-known that Saudi Arabia holds a prominent position in ensuring the quality control of its products and all supplies related to production and development. Its production standards are considered among the best in the world.”

During his speech, he emphasized the importance of joint cooperation between Iraq and its neighboring economies. He mentioned that Iraq’s economic future is based on the Development Road Project and the Iraq Fund for Development, and that these projects need to be initiated to activate the national market. The goal is to achieve expected balanced benefits and interests that will benefit both Iraq and its neighbors.

The speaker ended by stating that given the factors mentioned above, it is unavoidable that the competitive market, investments, technological advancements, and knowledge transfer available in a large economy like Saudi Arabia would encourage the establishment of strong foundations for long-term strategic economic partnerships between the two neighboring countries.

It is necessary for the government and men in society to uphold the rights Islam has given women to live freely and with respect.

 

BRUCE'S BIG CALL, 8 DEC

 Bruce’s Big Call Dinar Intel Thursday Night 12-7-23   REPLAY LINK   Intel Begins   22:00

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FH1R0

Welcome, everybody. Tonight. It is Thursday, December 7th  and you're listening to the Big Call and you're listening to my voice cracking as I'm not feeling very well right now.

In fact, I'm not feeling well enough to where I'm going to go first with Intel after Sue does her teaching And I need to get some rest. Sorry I have to sound like this and hopefully I don't cough in the middle of my intel.  But let's do this let's pray the call in.  So let's do the Intel segment now. Then you can go into yours and Bob can go into his whichever way you guys want to do it.   Okay   the intel that we received today is as follows.

We checked with one of the bondholders and he is saying okay, they get they have the funds in the Super Whales and the Whales with the big guys in tier 3. Those guys have the funds in their account. They can see it in their account but they have not had access to it yet -  They're looking to get their money and receive notification by email that they can go ahead and spend those funds.

The regular bond holders let's say  are not Whales but Super Whales  were told today -  that they're going to try to push it  through at 2am in the morning, Tomorrow morning.

And evidently  they had planned to do it this morning at 2am in the morning and were not able  to get it done. I don't know why it just didn't go,

Now what we are looking for so called, final green light  -  from Treasury, so that they can move through and we're waiting for the final green light from the Treasury. To get this done - we're waiting for the final green light from the Treasury. And we hope that tomorrow which is December the eighth very important day - We hope that that gets it done for all of us -

Lets see – what else  ---  what  we're waiting for is the release of all the funds and that's what gives us the opportunity to go in set our appointments – get the emails that we're looking for and we're looking to get those and set our  appointments and start ourt exchanges and redemption of Zim.

So if that happens at 2am tomorrow morning on the eighth – its a day that the China likes because they love the number 8 - that is a day that we would love too should it happen.

That's the final release is what we're looking to have happen. That's where we are at this point.

Today we had we saw that the Bank of Japan the National Bank of Japan which is there, which is their Central Bank crashed today.

About nine other central banks all central banks will crash. If they haven't already they will crash in the next few days. And that would include Germany, France - all the central banks in Europe because these banks were Rothschild banks.

So they're going to wipe all of those -out eliminate those just like our Federal Reserve is our central bank. And that is on its way out. Or it has been reported absorbed into our treasury, the US and the US Treasury.

So this is something that's happening right now, this week. And now do we have to wait for that to occur? Before we go, it’s hard to say – I don’t know that exactly but - this is something that is definitely happening. Some people were putting up with this has to happen on or before the 14th of December. Because on the 15th  traditionally -  Really, and it may not happen that way this year.  But Banker's  in Europe go on a one month holiday  from the 15th of December to  the 15th of January.

It's been a tradition for a  long, long time every year. This year, it could change what they do and it could - we will have to wait and see what happens

I’m trying to think if there's anything else that needed to be said right now but  I think that’s the majority of what I heard today – I think that’s it so - could tomorrow be the day.

It is quite possible that tomorrow is our big we've always liked the 8th  but we've been wrong so many times - because it hasn't been ready. We think the quantum financial system every thing is lined up – perfect time to do it - every single day it but we'll have to see whether that goes through or not tomorrow at 2 am - Bond holders -  and for any kind of shotgun start. – it should happen  for us

I’m excited about that  - there’s just not that much else that I'm getting that  is out there right now – that I’m hearing anyway.

So I'm gonna turn it over to Sue to do her teaching. We'll see where this goes  I’m going to tune out -

BREAK IN FROM BRUCE:  Hey Guys can I jump in for a minute

Ijust got a call from one of my major handlers -  We got a text saying  - it is finally over. We are going to receive our emails tomorrow. Oh it's done. Its done -  It's  blankity blank done  .

Repeat it one more time. Repeat it one more time. We're getting notifications tomorrow -  Don't look for them at 2 am – you might wake up to them. That is what he said -  So when it's done it's done  it is blankity  blank  done.  Alright guys, thank you,

Economic Thrills Is Vietnam Dong About to Exceed $2.80 Vietnam's Economi...

"RV UPDATE" BY MILITIAMAN, 8 DEC

 Militia Man 

 Article  "...A campaign to support the Iraqi dinar and make it the gateway to bustling the country." They're talking about the Iraqi dinar...They're not talking about the Euro ...[or] all the other currencies ...They're saying we're going to do trade in the dinar and it's going to be the gateway...

  Bilateral trade...Multilateral trade, Multilateral banking - all of these things show Iraq is going international...I believe I'm going to be 100% right.   The evidence is clear as day.

 Article quote 'They're preserving the foreign cash reserves of Iraq in the central bank so  it's a benefit for the country thus they will control the movement of speculators on the black market putting pressure on the  dollar circulating on the parallel market and unofficial outlets.'  The black market, parallel market, the illicit market, whatever  you want to call it is going bye-bye.  

Iraq’s Financial Crisis: Parliament Member Reveals Loss of 35 Trillion Dinar, 8 DEC

 Iraq’s Financial Crisis: Parliament Member Reveals Loss of 35 Trillion Dinar

On Thursday, Mohammed Al-Nouri, a member of the Iraqi Parliament’s Finance Committee, disclosed the disappearance of a staggering 35 trillion Iraqi dinars in printed currency, shedding light on the challenges besieging Iraq’s financial system. The revelation, made to the Al-Sumaria satellite TV channel, underscores the prevalence of smuggling, which accounts for 60-70% of the country’s financial activity.

Roots of the Financial System’s Failure

The roots of the financial system’s failure, according to Al-Nouri, lie in the dominance of certain parties and the quota system within financial institutions. The lack of electronic automation and final accounts in banks exacerbates the issue. With more than 73 private banks, Iraq’s banking system is under considerable strain. Al-Nouri stressed the urgent need for an independent financial system to restore economic balance in the country.

Government Banks and the Central Bank

The government banks, Al-Nouri said, find themselves tied down by the Ministry of Finance and the Prime Minister’s Office. Mismanagement at the Central Bank has had a detrimental effect on the dollar exchange rate and the budget. The United States’ Federal Reserve plays a decisive role in Iraq’s monetary policy, with funds being provided only with American approval.

Smuggling and Its Impact on Revenue

Al-Nouri also highlighted the rampant smuggling in Iraq under the current government, which has turned the country into a hub for drugs. The smuggling of imported goods such as cigarettes, gold, mobile phones, and alcohol has severely affected the country’s revenue. Dollar sales in Iraq are insufficient to meet the country’s needs due to smuggling, which necessitates stricter control of open and party-dominated ports.

Economic Impact and Dependence on the United States

The loss of the Iraqi dinar has inflicted significant economic damage, suspending small projects and construction loans. The Iraqi economy is heavily reliant on the United States, with sanctions from the U.S. Federal Reserve causing a surge in the exchange rate. The financial dealings have been further affected by missiles targeting Ain Al-Assad base and the embassy. The shocks to the economic system underline the urgent need for reform and greater control over financial institutions.

https://bnn.network/finance-nav/iraqs-financial-crisis-parliament-member-reveals-loss-of-35-trillion-dinar/

Iraq’s Prime Minister Calls for Justice following Attack on U.S. Embassy, 8 DEC

Iraq’s Prime Minister Calls for Justice following Attack on U.S. Embassy

In an unequivocal denouncement, Prime Minister Mohammed Shia’ Al Sudani of Iraq, the Commander-in-Chief of the Armed Forces, has called for the relentless pursuit and justice against those behind the attack that targeted the U.S. Embassy in Iraq. The assault involved projectiles fired at the embassy, marking a significant escalation in a series of similar incidents.

Unacceptable Attacks on Peace and Stability

Al Sudani was firm in his stance that such attacks on diplomatic missions are unjustifiable and unacceptable, irrespective of the reasoning or delusions that might lie behind these disgraceful acts. He stated that the perpetrators are a detriment to Iraq’s stability and security and present a distorted image of the Iraqi people’s will. This misrepresentation does not echo the national decisions that have been formally expressed by the Iraqi government on several occasions.

Lawless Elements Undermining Iraq

The Prime Minister referred to these groups as lawless elements that do not represent Iraq’s will. He warned against actions that undermine Iraq’s stability, internal security, and political reputation. These activities, particularly when they target secure locations safeguarded by international law and conventions, are deemed  terrorist acts. Al Sudani’s stern words come in the wake of an assault on the US embassy in Baghdad’s heavily fortified Green Zone, which has been the target of numerous attacks recently.

Defense of Iraq’s Sovereignty

Al Sudani reaffirmed that the Iraqi security forces and government agencies, each within their jurisdiction and duty, will continue to protect diplomatic missions and uphold international treaties. The Prime Minister vowed that the offending elements would face relentless pursuit and resistance in defense of Iraq’s sovereignty and the stability achieved through a long history of significant sacrifices. He also highlighted the presence of roughly 2,500 US troops in Iraq and about 900 in Syria, part of efforts to prevent a resurgence of the Islamic State group.

As this situation unfolds, the world watches closely, hoping for a swift resolution that upholds Iraq’s sovereignty and maintains international peace and security.

https://bnn.network/world/iraq/iraqs-prime-minister-calls-for-justice-following-attack-on-u-s-embassy/