"Baghdad-INAThe Parliamentary Finance Committee announced today, Friday, that it will continue revision and reviewing the 2024 budget schedules to complete it on time in order to vote on them in Parliament, while confirming its readiness to present the final report on the budget schedules in next Monday's session."
This meeting on Monday is regarding budget schedules. No mention of exchange rate changes are expected to be a part of this meeting.
We should see a lot of legislative bodies here in the United States and abroad get very active this month regulating and moving virtual assets into law inside the new Global Digital Economy.
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."