On Friday, MP Mustafa Al-Karawi said that the Kurdistan Region didn’t follow the rules in the budget for three years.
Al-Karawi told , “The three-year financial plan incorporated a few things connected with the Kurdistan District, however not a solitary one of them have been focused on yet, taking note of that the locale has huge credits owed to the focal government that should be paid.
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He demanded a “comprehensive review in order to implement the law, noting that the employees’ paper is a method of pressure on the federal government that the region is adopting to achieve financial gains,” and he said that this was necessary in order to implement the law.
He brought up that “setting up texts that oblige the locale to send out oil through SOMO is a significant positive development.”
The London Bullion Market Association and the World Gold Council have recently been advocating for gold to become a High Quality Liquid Asset.
The LBMA has done their research, and they gave to the Bank of International Settlements a "working paper" that provides the benefits of reclassifying gold from a Tier 1 asset to a Sound Money regimen. If accepted, gold would be seen as money.
From what we are seeing inside a Basel 3 banking system that is about to come into play, this is certainly the next moves. In order for money to have a Level Playing Field with Tokenized Assets that are backed by gold, this is just simply the next step.
Reclassifying gold as a High-Quality Liquid Asset (HQLA) improves liquidity, enhances market stability, creates trust and confidence in the financial system, provides overall economic and financial stability, and regulatory compliance benefits.
The LBMA and WGC believe that gold meets the criteria of an HQLA under Basel III regulations. They list several reasons that support gold's classification as an HQLA such as:
*Gold's “high credit standing”
*Gold's “low legal risk”
*Gold's “denomination in USD”
*Gold's “low volatility”
*Gold's “negative correlation with risky assets”
*Gold's “active and sizable market”
On April 11, 2023, Arkansas moved to recognize gold and silver as legal tender, with the “Arkansas Legal Tender Act”. This act allows the use of all forms of gold and silver bullion to pay off debts.
"Following the lead of the Utah Legal Tender Act of 2011, already 43 US States have adopted legislation that simplifies the use of gold and silver coins as money. This comes straight from Article I Section 10 of the Constitution, which states: “No State shall ... make any thing but gold and silver coin a tender in payment of debts.”
Take a close look at the new digital asset based trading system often referred to as the Quantum Financial System. Everything turns to gold and the use of it is just simply Sound Money.
On Friday, the management of the border Al-Faiha oil field predicted that during the month of August, production capacity would rise to 100,000 barrels per day.
Field chief Mohammed Taher said in an explanation got by , “The field is on the line with Iran and current creation has arrived at 80 thousand barrels each day and it is trusted that the limit will increment to 100 thousand barrels each day next August.”
Taher added, “The field comprises of two protecting banks, Bank An and Bank B, each bank has 50 thousand barrels each day, and the quantity of wells in the field has arrived at 43 wells, 36 wells underway, and a trial water infusion well, and the rest are recovery wells that are not yet associated with the station.”
He noted that “the field produces two lines of liquid and dry gas, and that the production capacity of liquid gas has reached approximately 1,100-1,480 tons per day, and the production of dry gas is approximately 98 MCM,” and that “the gas flaring cessation project will be completed by the end of this year, and that the gas processing capacity is 130 MCM per day.”
“The field consists of seven branches, including the reservoirs, wells, projects, production, administrative, legal, and security branches,” Taher said, noting that “the total area of the field is 865 square kilometers” and that “the cadres work in morning and evening shifts.”
Aki...wanted to report there is a big run on the banks of Iraq right now by the Iraqi citizens. They're pouring into the banks. It's not happening in Aki's bank [Which is in Michigan] it's happening over in Iraq.
What's going on is it was, last Tuesday, they announced to the Iraqi citizens, you have a new currency coming. So all of a sudden people started pouring in the following day on Wednesday and Thursday...'We are giving you a new currency,' is what triggered this.
All the sales of oil are now in Iraqi dinars and no longer in American dollars...The National Oil Company of Iraq will now receive the Iraqi dinars, through them, into the banks of Iraq for the GOI to use. No foreign currency. Nobody stealing foreign currency or their currency. Security and stability is because of the control Sudani has.
Individual from the Parliamentary Money Council, MP Moeen Al-Kadhimi, uncovered today, Saturday, the explanations behind returning the financial plan to the Place of Delegates, while affirming that the board of trustees has opened an examination concerning the matter.
Al-Kadhimi said in a meeting with Al-Sumaria television that the spending plan tables endorsed by the Place of Agents are similar tables sent by the public authority, and when they were moved from the Parliament Administration to the Top state leader’s Office, obviously a few changes had happened in these tables, adding that they were gotten back to Parliament to revise them and resending them to the Chamber of Clergymen as they were.
Al-Kadhimi added that this correction is in the possession of the Administration of the Chamber of Delegates, and it can make the revisions and resend them without alluding to the Money Advisory group, demonstrating that the Money Panel will open an examination concerning this adjustment of a portion of the numbers that raised the spending plan from 211 trillion to 226 trillion.
MP Baqir Al-Saadi uncovered, on Thursday (July 11, 2024), that the spending plan would get back to the Place of Delegates to make a few minor changes to it.
