Among them are Russia and China... Members of the Security Council support ending the mission of the UNAMI mission in Iraq, 17 MAY

Among them are Russia and China... Members of the Security Council support ending the mission of the UNAMI mission in Iraq

 Yesterday, Thursday, a number of members of the UN Security Council, including Russia and China, supported Baghdad’s request to end the mission of the United Nations mission in Iraq by next year, but Washington did not immediately provide its support for this step.

Last week, the Iraqi government asked the United Nations to end, by the end of 2025, its political mission that it has been performing in the country for more than 20 years, considering that it is no longer necessary.

Iraq's Deputy Representative to the United Nations, Abbas Kadhim Obaid Al-Fatlawi, repeated the request before the Council, yesterday, Thursday, saying, "The mission achieved its goals."

Russian envoy Vasily Nebenzia supported this view, saying: “Iraqis are ready to take responsibility for the political future of their country.”

He added: "The remaining problems must not become an excuse for the United Nations mission to remain in the country indefinitely."

China's Deputy Representative to the United Nations, Geng Shuang, noted that within the framework of the annual renewal of the mission, whose mandate expires at the end of May, the Council must "propose a plan in order to ensure gradual withdrawal and a smooth transition towards final withdrawal."

Given that UN missions can only operate with the consent of the host country, Britain and France have also expressed their support for the shift in the partnership between Iraq and the UN.

The position of the United States was more ambiguous, as Ambassador Linda Thomas-Greenfield said that the United Nations Mission (UNAMI) still had “important work to perform,” and did not address Baghdad’s request.

She emphasized the mission's key role in many important political issues, such as supporting the organization of elections and promoting human rights, although Iraq clearly requested that the mission focus more directly on economic issues.

In an assessment requested by the council, German diplomat Volker Perthes said in March that UNAMI, which had more than 700 staff as of late 2023, “appears in its current form to be too large.”

Perthes called on the mission to "begin transferring its tasks to the national institutions and the United Nations team in the country in a responsible, organized and gradual manner within an agreed upon time frame."  link

ABOUT VIETNAM 'S ABILITY TO MOVE INTO A MARKET ECONOMY" BY GOLDILOCKS, 17 MAY

 GOLDILOCKS

Goldilocks' Comments and Global Economic News Monday AM 5-13-24

The link below provides information on Vietnam's review by the US Department of Commerce regarding Vietnam's ability to move into a Market Economy.

 

 My understanding from the previous article on Vietnam reviewed is that this is not a graded review. It is simply a valuation of the types of goods and services they can provide comprehensively.

 

 Vietnam is showing steady growth in several areas of their Market. Their potential to increase National Capital Investment opportunities on a Global scale is evident.

 

 Clearly, hurdles are being cleared for Vietnam to move into a Market Economy. A Market Economy will allow them to freely move their money  through supply and demand.

******************************

 

 Credit Valuation Adjustments on their currency will be determined by Vietnam's ability to move their goods and services near and far at competitive rates.

 

 © Goldilocks

Coffee with MarkZ and Mr. Cottrell. 05/17/2024

The Monetary Fund: “Internal Stability Has Improved Since The New Government Took Office In October 2022.”, 17 MAY

 The Monetary Fund: “Internal Stability Has Improved Since The New Government Took Office In October 2022.”

Reports   Washington, DC - On May 13, 2024, the Executive Board of the International Monetary Fund (IMF) concluded Article IV consultations with Iraq and considered and approved the staff assessment.

Internal stability has improved since the new government took office in October 2022, facilitating the passage of Iraq's first three-year budget, which entailed a major fiscal expansion starting in 2023, supporting a strong recovery in Iraq's non-oil economy after a contraction in 2023. 2022.

Iraq has been largely unaffected by the conflict in the region, and domestic inflation fell to 4% by the end of 2023, reflecting lower international food prices, a revaluation of the currency from February 2023, and a return to normalization of trade finance.

Continued fiscal expansion is expected to boost growth in 2024.

*Executive Council evaluation*:  Executive Directors agreed with the thrust of the staff assessment, and welcomed the strong economic recovery, low inflation, and improving domestic conditions that led to the implementation of the first-ever three-year budget.

Directors agreed that the immediate implementation of Customs and Revenue Administration reforms, full implementation of the Single Treasury Account, and strict oversight and limitation of the use of extra-budgetary funds and government guarantees are essential to support fiscal consolidation.

Directors praised the central bank's efforts to tighten monetary policy and strengthen the liquidity management framework.

Improving coordination between fiscal and monetary operations would help absorb excess liquidity and enhance monetary policy transmission.

The directors agreed that accelerating the restructuring process of large state-owned banks was essential. They support the modernization of the private banking sector, by facilitating the establishment of correspondent banking relationships, reducing regulatory uncertainties, and enhancing the efficiency and competitiveness of private banks.

Directors agreed that improving governance and combating corruption were also key, and encouraged further strengthening of the AML/CFT framework, strengthening public procurement and business systems, and addressing deficiencies in the electricity sector.

Directors welcomed renewed efforts towards accession to the World Trade Organization and encouraged the authorities to improve the coverage and timeliness of statistics.

Directors welcomed the authorities' request to establish a policy coordination instrument.

The next Article IV consultations with Iraq are expected to be held in the standard 12-month cycle.

322 views   05/16/2024 - https://economy-news.net/content.php?id=43490

Basel III Update: The Real Reason for Delayed Compliance Explained by AWAKE IN 3D, 17 MAY

 Basel III Update: The Real Reason for Delayed Compliance Explained

On May 15, 2024
By Awake-In-3D

Continued delays in adopting Basel III regulations prompt skepticism about banks’ willingness to disclose financial risks, despite reassurances that progress is being made.

In This Article

• Persistent Delays in Basel III Implementation
• Crypto Asset Regulations: A Convenient Excuse?
• Bank Transparency and the Hesitance to Disclose Risk Ratios
• Broader Implications for the Banking Sector

Introduction

The ongoing postponement of Basel III compliance raises concerns about banks’ commitment to financial transparency.

Despite frequent assurances from the Basel III Governing Body, the reality suggests that full compliance is far from imminent.

The recent focus on crypto asset regulation appears to be another tactic to delay the inevitable: public disclosure of banks’ risk leverage ratios.

Persistent Delays in Basel III Implementation

Basel III regulations are critical for ensuring the stability of the global banking system. Banks must measure and report financial risks accurately, using approved methods to calculate their risk-weighted assets.

However, the journey towards full compliance has been anything but smooth.

The Basel III Committee has consistently emphasized the importance of implementing these regulations. Yet, deadlines continue to be pushed back, with many jurisdictions now aiming for completion this year or the next. This pattern of delay raises questions about the underlying reasons for the slow progress.

Crypto Asset Regulations: A Convenient Excuse?

The latest hurdle in Basel III compliance involves new rules for managing crypto asset exposures. Originally set for implementation by January 1, 2025, these rules have now been delayed to January 1, 2026.

Claims are that this postponement is necessary to develop a stable regulatory framework.

However, this explanation seems more like a convenient excuse than a genuine obstacle. The classification of crypto assets into two groups, each with different regulatory treatments, adds complexity.

Still, it should not justify such significant delays. The focus on crypto assets might be diverting attention from the real issue: banks’ reluctance to reveal their true financial risks.

Banking Transparency and the Hesitance to Disclose Risk Ratios

A critical component of Basel III compliance is the public disclosure of risk-weighted assets. This transparency is vital for regulators and the public to assess a bank’s risk profile accurately.

However, many banks appear hesitant to disclose their risk leverage ratios, likely fearing the exposure of their financial vulnerabilities.

This reluctance suggests that banks may have more to hide than they are willing to admit. Full transparency could reveal that many institutions are not as financially stable as they claim.

This fear of public scrutiny is, I believe, a significant factor behind the persistent delays in Basel III compliance.

Basel III Compliance Dashboard for US Banks: Notice the yellow boxes (delays) are in credit/market risk and disclosure categories. SOURCE: Basel III Committee/BIS

Broader Implications for the Banking Sector

The ongoing delays in Basel III compliance and the hesitance to disclose risk ratios have broader implications for the global banking sector.

While the Governors and Heads of Supervision (GHOS) continue to express commitment to these regulations, the repeated postponements indicate a lack of genuine progress.

The introduction of crypto asset regulations adds another layer of complexity, but it should not serve as a primary reason for delay.

The lack of full compliance and transparency undermines the stability of the global financial system. The banking sector’s credibility depends on its willingness to embrace transparency and accountability.

The Bottom Line

The repeated delays in Basel III compliance highlight a concerning trend: banks’ reluctance to disclose their financial risks.

While GHOS maintains that progress is being made, the reality suggests otherwise.

The focus on crypto asset regulations appears to be more of a distraction than a legitimate obstacle. The global banking sector must confront its transparency issues head-on to ensure financial stability and restore public confidence.

Contributing source: https://www.bis.org/press/p240513a.htm

© GCR Real-Time News

Coffee with MarkZ and Mr. Cottrell. 05/17/2024

PDK Note: I will only transcribe RV Related or Intel with Financial relevance. If it’s a stream mainly about politics…I will not do notes. 

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

Coffee with MarkZ and Mr. Cottrell. 05/17/2024

Member: Happy Friday everyone. 

MZ: Sorry about being a little late. Power outage here ane working off a laptop and batteries today. 

MZ: gotta move fast today in case I lose power.

MZ: I have a real humdinger of an article to share. This tells us we will go no matter what.  They have put together this system and I was told this was always the plan to force the issue. “Escobar:De-Dollarization Bombshell - The Coming Of BRICS+ Decentralized Monetary  Ecosysstem   “

MZ: They are creating a Universally accepted currency payment option outside the traditional ones. It is neither crypto or central banks. It is something in-between. It is based on 40% gold and 60% the BRICS countries currencies.  So if a country is wealthy in commodities they are going to be worth more.  Metals are going to be worth more 

​​ Mod:  Escobar:De-Dollarization Bombshell - The Coming Of BRICS+ Decentralized Monetary  Ecosysstem   https://www.zerohedge.com/geopolitical/escobar-de-dollarization-bombshell-coming-brics-decentralized-monetary-ecosystem

MZ: They talk about how it is replacing current sysstems….and   I was told this was always the plan to have as a back up and to force the RV . This is the kill switch or the fail safe for us. So that is what they are doing…and we are watching it move forward. . 

So we win….the question is “how soon?”  I just love this article

Member: So the bad guys are willing to burn down the world in order to keep power and this is the plan to stop them????   Wow

Member: sounds like we will need our gold backed USN in order to participate in the US? I wonder if the QFS will work with it? 

Member: Maybe this new BRICS system is another term for the QFS????

MZ: On the banking side there are big expectations for this weekend. Many people saying this. And expecting a big announcement out of Iraq this Sunday . Hopefully this is it. We will find out Sunday or Monday.  

Member: I hope Sunday cranks this out with Iraq moving forward for their people.

Member: A guru at TNT says today… and be ready be ready be ready.

MZ: They are continuing to crack down to keep people quiet. But its very positive ecause of the sheer number they are cracking down on. And very positive on the number of people getting trained in banks on foreign currency. 

MZ: Overall it’s a fantastic time to be us. 

Member: I heard the End of June, UK gets their new QFS digital payment system

Mr. C Joins:  

MZ: A number of new people are asking how does this go. They are very confused about the RV and reset. .

MC: OK:  the first thing is when the golden dragon decides it is safe to release the funds-a team will arrive here comprising of the US treasury  (New treasury from RENO) , reps from the military, The Chinese families,. and they will present to me a gold certificate and the codes to be able to unlock  and initiate the RV. 

MC: I send the codes to a portable satellite computer system to the New Republic Treasury and they unlock  and distribute the gold all around the world to all the signatories of the gold treaty.  

MC: Immediately 2 things occur. 1. All fiat currencies go to zero except for the time frame to exchange the currencies. and 2. All derivatives are wiped off the balance sheets of all companies and corporations around the world.

MC: The next step is automatically a global debt Jubilee which means all debts. Ben Fulford is now saying (all debt both public and private) are dissipated- gone.  That is where is starts. 

MC: The reset is then in process and it happens within a couple hours. Then the changing of the values occurs . We should most likely see the markets shut down for at lleast one day and maybe 2. 

MZ: Do we expect a value change and then automatically rates are 1 to 1 ? Because we are expecting some currencies to be higher than the US dollar. 

MC: The values on the exchanges like dinar ect…..are per agreements and what groups you are in….I do not know that much about that. I do know its immediate and automatic. The change in values is immediate. So you won’t be waiting days or weeks to get it. 

MZ: That is what I was told too. It’s immediate and they roll to a 1 to 1 after they adjust for values  differences. 

MC: is will go to parity around the world 1 to 1 across the board. 

Member: I always thought RV first, we exchange at the new increased rates….then reset happens when it goes to 1 to 1 parity.  Guess we shall see. 

Member: Will we still have 30 days to exchange?

MZ: That is what I am still hearing. 

Member: Thanks Mark and Mr. C……Hope your power comes back on Mark. ASAP

Member: have a blessed day and weekend! prayers for all who need them. 

Member: A secret to happiness is letting every situation be what it is instead of what you think it should be, and then making the best of it... yungbleu

Mr. Cottrell joins the stream today. Please listen to the replay for the entire Q&A and his  information and opinions. 

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THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics. 

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