Parliamentary Economy: The current world budget surplus will reduce next year’s budget deficit
On Monday, Yasser Al-Husseini, a Parliamentary Economy and Trade Committee member, confirmed that the surplus from the 2023 budget would be used to fill the deficit in the 2024-2025 budget.
During an interview, Al-Husseini mentioned that the government still needs to allocate funds for the 2023 projects, which could result in financial deficits for the following year’s budget .
He stated that the current budget deficit of 64 trillion will be covered by the surplus in the next fiscal year. He also mentioned that the funds allocated to various projects have yet to be utilized, which will result in a financial abundance that can be utilized in future budgets.
Parliament approved the budget six months ago after a difficult struggle due to political controversy that disrupted the country’s economic interests.
“CFTC Approves Proposed Amendments to Regulations Regarding Real-Time Public Reporting and Swap Data Recordkeeping and Reporting Requirements”
This new data collection is expected to harmonize International Data swap transactions that take place on the Forex Market.
It begins on January 1st, 2024.
It is designed to create accurate and efficient reporting of the data being transferred back and forth between cross-border International trading.
The UPI is expected to adopt and use this new reporting rule on January 29th, 2024.
The Unified Payments Interface is the foreign currency mechanism that India is going to use next year in International trade between countries.
Iraq, Vietnam, and Indonesia are three of several countries that will utilize this UPI interface.
It will allow several Banks across the world to exchange on the Forex Market under one digital mechanism.
Trade digitalization will boost Vietnam’s connection on the global stage “Digitalization offers opportunities for a country to engage in international trade, benefiting micro, small, and medium-sized enterprises, although there will be regulatory challenges, according to HSBC.”
Vietnam is finishing up their version of the QFS system to be interfaced with the overall system this month as their assets are supposed to be tokenized as of yesterday.
Vietnam already has Basel 3 compliance to support their markets through a banking system fully compliant in commodity backing.
These new opportunities and new demands to move into the international world will begin creating price pressures on their currency going forward.
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 evening all…….Any RV news anywhere???
Member: I know you are traveling back to PR on Wed. What happens if we get notifications that day?
MZ: Well because there is a chance of that…I made sure I booked a flight with internet. So I will be able to go live….no matter where.
MZ: The rumors are through the roof. From Iraq especially….that they have expectations for the next 48 hours and before the 20th. I do not know if it will happen on the 20th….but I do feel it will happen within the next few weeks.
MZ: But bank groups are positioning for the next few days. …I am hearing the same from bond folks and every source that I have.
MZZ: Banking contacts are all looking at the next 36/48 hours…..We really are close….but leets see what happens.
Member: 36-48 hours matches what MY has been telling me for the last week & a half.
MZ: But everyone stay grounded. You all know it’s inevitable. It’s a “when” and not an “if”.. Historically we know it’s inevitable as banks cannot pay their debt. There are massive derivatives coming due.
Member: Will there be Debt Forgiveness?
Member: I heard this is the year of the Debt jubilee….all debts forgiven!
Member: If Nesara/Gesara cancels all debt, does that also include Governments? If so, that may be why they don't care about the deficit??? I know they also have Dinar
Member: Really hope Nesara is real.
MZ: Nesara/Gesara and debt forgiveness There has been no time in recorded history when they reset without erasing debt. They have to get rid of debt. Everytime you move from a debt based fiat system…you have to reset because the debt is untenable. I 100% believe there will be debt forgiveness.
MZ: The US, China, Europe all have the same problem – they cannot pay debt. Debt forgiveness will be a crucial part of this reset.
Member: Anything new about the Chinese elders in Reno?
MZ: I know they were having high meetings. Very important meetings. I was told they were meeting today with the banks AND tne board that will pull the trigger. I know there were extra representative and/or elders that were in Reno over the weekend and had important meetings with some of the key influencers on the timing and the trigger. I believe they were settling on final timing.
MZ: “Zimbabwe to rejoin the commonwealth in 2024” I think this is important because Zimbabwe –(after to moving to a gold backed currency) would not rejoin the fiat world……they wouldn’t reach out to the west unless the western world was going to have sound banking. I think this is important.
Member: Thanks Mark and Mods…..everyone have a great night.
Member: Merry Christmas to all the Mods. May you all get some down time with family this Christmas time.
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With varying participation rates and massive violations, the Commission closes the polls and ends the elections, 18 DEC
Shafaq News/ The Election Commission announced, on Monday, the closure of general ballot boxes for the governorate and district council elections, in the 15 governorates that are not organized into a region, amid varying participation rates and a number of electoral and security violations.
The Commission confirmed, in urgent news, that ballot boxes were closed at 6:00 pm on Monday, in all electoral centers distributed in 15 governorates, with the exception of the Kurdistan Region.
As of midday, the Chairman of the Board of Commissioners, Judge Omar Ahmed, announced that the percentage of voting in the general ballot for the provincial and district council elections amounted to only 17 percent.
Baghdad and the governorates of Diyala, Babel, Karbala, Dhi Qar, Diwaniyah, Muthanna, and Anbar recorded a weak participation rate in the general vote for the governorate council elections, as of midday.
Former member of the Election Commission, Saad Al-Rawi, noted the presence of delays in some polling stations, and told Shafaq News Agency that the participation rate will not exceed the rates of previous sessions, which usually range between 25 to 35%.
Security aspect
In this context, the Federal Minister of the Interior, Abdul Amir Al-Shammari, considered the polling stations “vital targets that must be defended,” moments after the polls closed and the public voting process ended.
Before that, a security source in Najaf reported that an explosion occurred near an electoral center in the Kufa district, in an attack that was the second of its kind targeting electoral centers, after an attack with explosive devices that targeted 4 electoral centers in the governorate.
On Monday morning, the voting process began in the general ballot for the irregular provincial council elections in a region in Iraq, as electoral centers began opening their doors to citizens to cast their votes.
On Saturday (December 16th), the special voting process for the local elections for members of the security forces, displaced persons, and prison inmates took place, and ended with a participation rate of 67%.
Provincial council elections were last held in Iraq in 2013 before they were dissolved by the major demonstrations that swept the country in October 2019 in protest against the deteriorating living and service conditions, the spread of financial and administrative corruption, and the spread of corruption in state institutions and departments.
[via PDK] ... article from the local news over there...says they have defeated the “parallel market” or the black market for currency. Why is this important?We were told this would be the next step before they released the new rate. So there is great expectation. They continue to tell the Iraqi people to watch for changes in the dinar values at stores and market places.
I am not worried about a float. None of my bankers are worried about a float...I was told that because of the “Oil for Dinar“ program –the redeeming banks or redemption centers that this will be our best price. All my bankers agree.
