Dhi Qar Oil is considering several measures to raise the level of production
Today, Sunday, Dhi Qar Oil Organization examined a few principal points influencing the truth of oil creation in the governorate.
The Chief General of the Dhi Qar Oil Organization, Ali Khudair Abbas, told : ” The Dhi Qar Oil Organization has accomplished a huge level of its creation objectives.”
Abbas focused “the significance of proceeding to further develop execution and increment creation as indicated by the drawn up ecclesiastical plans.”
The creation limit of the oil fields in Dhi Qar Governorate is in excess of 250,000 barrels each day, disseminated as in excess of 150,000 barrels from the Gharraf field and 100,000 barrels from the Nasiriyah field.
States Ready for Fiat Currency Collapse: Gold is “Real Money”
Is the Fiat Currency System Doomed? Louisiana Thinks So
Across the United States, a growing number of states are passing legislation reaffirming gold and silver as legal tender while also rejecting Central Bank Digital Currencies (CBDCs) as valid money.
This legislative trend underscores a profound skepticism towards the stability of the fiat currency system and a proactive approach to safeguarding economic stability.
By embracing sound money principles and constitutional directives, these states are positioning themselves to withstand potential financial upheavals and protect their citizens’ wealth.
In This Article
Louisiana’s New Legislation on Gold and Silver
Constitutional Foundation for Sound Money
Growing Trend Against Fiat Currency and CBDCs
Implications for the Future of State Economies
Louisiana has made a significant legislative move as Governor Jeff Landry signed a new law on May 31, 2024, reaffirming gold and silver as legal tender.
This action reflects a broader state-level trend anticipating a collapse of the fiat currency system.
Louisiana’s New Legislation on Gold and Silver
Senate Bill 232, sponsored by Senator Mark Abraham, declares that any gold or silver coin, specie, or bullion issued by the United States government is legal tender when agreed upon by both parties in a contract.
The bill enjoyed overwhelming support, receiving only one dissenting vote in the Louisiana House and Senate.
Constitutional Foundation for Sound Money
This legislative move aligns with the U.S. Constitution. Article 1, Section 10 states: “No state shall…coin Money; emit Bills of Credit; [or] make any Thing but gold and silver Coin a Tender in Payment of Debts.”
This principle, rooted in the nation’s founding document, highlights the enduring importance of sound money policies.
Growing Trend Against Fiat Currency and CBDCs
Louisiana is part of a growing national trend where states are moving away from the fiat currency system and rejecting Central Bank Digital Currencies (CBDCs) as valid money. In 2024, Alabama, Utah, Wisconsin, Nebraska, and Kentucky passed similar legislation.
These states have taken steps to eliminate sales and capital gains taxes on precious metals and empower state treasurers to invest in gold and silver. This movement underscores a deepening distrust in the stability of the fiat currency system.
Implications for the Future of State Economies
The 53-year experiment with a purely fiat currency system in the United States has resulted in significant economic challenges.
The Federal Reserve note “dollar” has lost purchasing power, leading to inflation and economic instability. By reaffirming gold and silver as legal tender, states like Louisiana are proactively protecting their citizens’ wealth and preparing for a potential collapse of the fiat currency system.
This legislative trend suggests a broader shift towards economic self-reliance and stability at the state level, highlighting a growing recognition of the need for sound money policies.
The Bottom Line
Louisiana’s reaffirmation of gold and silver as legal tender is a clear indication of a broader state-level trend towards sound money policies.
As more states join this movement, it signals increasing skepticism about the long-term viability of the fiat currency system and a proactive approach to ensuring financial stability.
By embracing precious metals and rejecting CBDCs, states are positioning themselves to safeguard their economies and citizens against the potential collapse of the fiat currency debt system.
Nechirvan Barzani: Kurdistan will always be a factor for peace and stability
Shafaq News / President of the Kurdistan Region Nechirvan Barzani emphasized, on Sunday, the Region's role as a factor for peace and stability in the area, while also pointing out the potential to build a stable and strong state that holds its rightful place in the region and the world through cooperation with the federal government in Baghdad.
Barzani stated during his speech at the graduation ceremony of the sixth batch of students from the American University in Duhok that "a strong Kurdistan needs a generation filled with knowledge," stressing the importance of universities in "producing thinkers, entrepreneurs, and innovators."
He further affirmed that "the Kurdistan Region will always remain a contributor to security and stability," expressing readiness to "continue supporting efforts to resolve outstanding issues and reach a political agreement with Baghdad."
Barzani emphasized the potential to "build a country that has its deserved entity in the region, capable of utilizing its resources for development, improving services, and enhancing relations with neighboring countries and the region based on common interests," noting that "commonalities unite us more than differences."
He reiterated, "Kurdistan will always be a factor for peace and stability in the region."
That vote [scheduled Monday 3:00pm Baghdad time vote on the 2024 budget tables]is prior to markets opening in the United States in New York. Will they vote? Will they do it? We're going to find out.
The House of Representatives will vote next Monday on the budge schedules...We've been waiting for it... Is it important? Is it not important?
Obviously it's a focus. Article Quote: "Mustafa ... announced the House of Representatives intends to vote on the financial budget tables for the year of 2024...It will be held at 3:00 in the afternoon on Monday."
I don't think anybody's going to be able to prove me wrong, you drop the three zeros, the exchange rate changes from 1 USD to 1.32 just like al-Sudani says. Do the math it comes out to .76, apply the real effective exchange rate and that's where the show starts big time... .76 is $0.76 - it's slightly less than the dollar.
That's value. It's not .0007 something. It's value. That's what they're talking about - Bringing value to the currency. That's what Al-Alaq is there for.
Article quote: "If we assume the Central Bank issues a new currency this will not affect the exchange rate of the Iraqi dinar."
This guy is not wrong...It won't in my view. The exchange rate will affect the new small denominations though...If they change the value of the exchange rate by dropping the three zeros, therefor the new denominations will be affected by it, which will be value. It's pretty simple.
If you raise the value of the currency it's going to have a ripple effect...Instead of being a pebble...or a brick in the pond this might be a boulder. There's going to be some waves. The World Bank, IMF, US Fed, US Treasury...Bank of International Settlements, everybody's going to need to know what you're going to do and when you're going to do it and pretty close.
They're not going to be broadcasting it like everybody thinks, 'What's the date and what's the rate?' That's not how it works. But we study it close enough to where...we can see it can't be far off...
If they're going to have liquidity and they don't have it now it's going to require new small category denominations to be in circulation. Just as al-Alaq's project to delete the zeros would require new denominations. Did they do that in 2018 and have them in storage? I believe they did...
They increased that gold supply by about 40 tons...Their currency reserves are around $110 billion. They have a massive amount of wealth. They have the ability to support their imports for about 16 months they say, which is about 5x what they need. That's important. They don't want to reduce those. They'd like to keep them on hand...Iraq has a good foundation for Alaq to do what he's supposed to do and it'll only get better if he does.
If they change the value of their currency they're going to have more surpluses...The oil price is about $70 in the 2023 budget. That hasn't changed for '24 or '25 because that's a tripartite budget. They got a surplus. Oil is somewhere around $80. It's been as high as $91ish. The expectations of oil is to be somewhere in the neighborhood of $80/$90 and they even talk about $100/barrel...Iraq is going to be sitting pretty good...They have phosphates...sulfur...natural gas...Those non-oil revenue streams...taxes and tariffs are going to come online...Iraq has a good foundation for Alaq to do what he's supposed to do.
Iraq is moving forward. They've got huge reserves...increased their gold, they're going to have the private sector, their stock exchange is going to be one to reckon with. It's an emerging market and a lot of money is going to be start flowing...
If they go on the Forex system it's going to be international. It's going to be fast and furious.
Could they do something within the county prior to that?
Sure, why not, educate the citizens, do what they got to do...
Question: People want to know if they can drag this out until next year?
Militia Man: We don’t know the timing. But, I don’t think we are even close to go that long. There is way too much going on in the world and this is not only about Iraq. Remember all boats rise with the tide...I believe Iraq is ready to go with the rest of the world. Along with other countries like the Vietnamese dong.
Are they going to change the value of their currency...?
I'm pretty sure they are going to need to to pay for all these [reconstruction] objects...rebar, the cement - all that stuff is expensive at 1310. It's not so expensive if it's back at a 'previous era'....If they have the true value, their real effective exchange rate, it's going to be far cheaper...
Iraqi Sunni politician criticizes UN mission, backs its planned exit
Shafaq News/ A prominent Iraqi Sunni politician, Atheel al-Nujaifi, on Sunday criticized the United Nations Assistance Mission for Iraq (UNAMI), calling its role marginal and often favoring the ruling party.
Al-Nujaifi, a leader in the Muttahidoun Party, told Shafaq News Agency he does not believe UNAMI's withdrawal by late 2025, as requested by the Iraqi government, would negatively impact the country.
"UNAMI's effectiveness has been limited," he said. "While it achieved some success in resolving local disputes in the early years after the 2003 invasion, its role has become marginal and often aligned with the strongest party in power."
"The success, in its early days, was only a catalyst for the Iraqi parties' willingness. It only happened because the Iraqi parties were seeking a solution," he added.
Al-Nujaifi emphasized the need for Iraqi-led reforms. "Any external interference will only worsen the situation," he said.
The UN Security Council last week approved the Iraqi government's request to end UNAMI's mission by December 2025. Prime Minister Mohammed Shia al-Sudani had requested the withdrawal in May, proposing that UNAMI focus on economic reform, climate change, services, and sustainable development during its remaining time.