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A Parliamentarian Reveals Gold Smuggling In An “Innovative” Way.. What Is Its Relation To The Rise Of The Dollar?, 1 August

 Economy News – Baghdad  Member of Parliament, Alia Nassif, revealed today, Wednesday, innovative gold smuggling operations, while she mentioned the story of the death of Qarun.

Nassif said in a post on the Aks platform, followed by “Al-Eqtisad News”, that “after more than 5,000 years since the death of Qarun, a new Qarun is born, to become the crocodile of corruption in Iraq,” adding: “In short, there is currently an innovative method to destroy the Iraqi economy, which is to buy gold (local and imported), melt it, turn it into ingots, and smuggle it abroad!”

She continued: “I call on the Central Bank, the Anti-Money Laundering and Terrorism Financing Office, the Organized Crime Directorate, the Federal Integrity Commission, and all regulatory agencies to investigate the sources of funds transferred through the currency sales window to purchase gold and precious metals during 2024, and to verify the validity of the procedures in customs and the Central Agency for Standardization and Quality Control, and to verify the sales operations in the markets and who are the beneficiaries of buying gold.”

She pointed out that "the reason for the increase in dollar sales is the import of large quantities of gold (which are not sold in the markets), but are remelted and smuggled out of Iraq, taking advantage of the difference between the official and parallel exchange rates, in addition to financing suspicious operations and giving legitimacy to money coming through financial corruption and extortion." 2024/07/31 - https://economy-news.net/content.php?id=45778

MP: The Iraqi Banking Sector Is Being Executed In Favor Of Arab Banks, 1 AUGUST

 Policy  ,  07/31/2024 10:38  , Number of readings: 168  Baghdad - Iraq Today:   MP Alia Nassif Jassim expressed her dissatisfaction with the current situation of Iraqi banks, considering that there is an “execution” of these banks.

The MP wrote in a recent post on the X platform, “This is how Iraqi banks are being executed! A license was granted to the Jordanian Arab Bank and the Emirates Union Bank to work in #Iraq and they will start their work at the beginning of next September alongside the National Bank

 The license will also be granted to two banks (Kuwaiti and Qatari), while many Iraqi banks continue to stop and more of them will stop due to the management of the Central Bank of Iraq, which did not. address the problem during the past period, but rather worked to enter them into contracts with K2 and pay them money without result!

The banking sector is being punished for mistakes made in previous years during which it was under the supervision of the same current management of the Central Bank, so why was this management not punished for failure to fulfill its duty to supervise the work of these banks?”

These statements come at a time when the banking sector in Iraq is witnessing major challenges, with increasing criticism of the Central Bank's management.  LINK

Failure of the Iraqi Stock Exchange (ISX) BY MNT GOAT, 1 AUGUST

Failure of the Iraqi Stock Exchange (ISX)

I encourage my readers to go read the article titled “CORRUPTION AND FAVORITISM WEAKEN THE IRAQI STOCK EXCHANGE: NEGLECTED LAWS AND A BITTER REALITY”

Many joint-stock companies and banks participating in the Iraq Stock Exchange have shown their failure to submit their final financial statements for the year 2023, reflecting a state of chaos and indifference towards the laws regulating the work of the Iraq Stock Exchange.

 The market suffers from a continuous disregard for the legal articles regulating the relationship between companies and the market, as Article 14 obliges listed companies to prepare and publish periodic financial reports that include balance sheets and profit and loss accounts, in addition to detailed annual reports.

 However, the reality indicates that many companies blatantly ignore this article, leading to a significant lack of transparency and information available to investors.

So tell me in r

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Evening News with MarkZ. 07/31/2024

Wednesday Evening News With MarkZ 

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

Member: Tomorrow is August, another month gone with no RV …

Member: I have a feeling August will be our lucky month

Member: Mark, Do you really feel in your heart we are close?

MZ: I do…..but this wait is painful though. Painful to be this close and not cross the finish line yet while people are giving up hope. 

Member: Mark a couple weeks back you said multiple military contacts gave you a date around August 4th, to be done with everything before that..... You still feeling hot and fuzzy about that Intel?

MZ:  Rumors -they are still saying between now and the 5th. Nobody knows the timing but it’s what many are looking at. 

Member: (From Dinar Guru)  Militia Man  The US Treasury will not wait.  They can act at a moment's notice.  That is coming from the higher-ups.

MZ: Some of my favorite news today comes directly from MilitiaMan. Normally I would not hijack something like this but think it’s very important. We  possibly have him joining us Friday morning with Mr. C

MZ: “ Government Advisor ; Budget Implementation Instructions (Procedural Issue) “ They reiterated that the budget tables do not need to be posted in the Gazette. The budget has already been approved for 3 years. It is perfectly legal and they have worked through the implementation thereof. 

MZ: So why are they not posting budget tables in the Gazette? I think there is an important reason – like a different value on the dinar. 

MZ: The chatter I am getting out of Iraq is fantastic. What have they gotten done?

MZ: The Iraqi government has their stuff cleaned up…..They have worked things out with the Kurds…..We are looking at HCL approval any day now…..Ascending to the WTO……they have come out of Chapter 7 requirements from the UN and the World Bank……It is exciting to see where we are at right now with this progress. 

MZ: Bond side is still wicked quiet. At least my contacts are. And no word out of Reno. Its painfully quiet

Member: Do you still think multiple currencies in the first basket?

MZ: Yes I do.

Member: (From Dinar Guru) Guru Jeff  Article: "Four counties meet in Baghdad to support the development road project" ...You have to look at their timing.  They finished the 5-year development plan around the end of July walking into the beginning of August.  Why? Timing.  They're about to revalue.  Their actions strongly suggest to me personally IMO I really feel they're going to be revaluing in August. 

Member; Hope he’s right

Member: How soon after the HCL is signed, sealed and delivered will the pipeline to Turkey be turned on? Is that still a good marker for us?

Member: Question: If The HCL Was Passed, Is There Anything Else Holding This Up ???

Member: I'm immune to getting excited. when this actually does go I hope it comes back to me on how to get excited. lol. I do believe we are on top of this thing now though. everything crossed.

Member:  Mark Z you are keeping a voice of reason in this community which we all need… if you look at the basics of this thing it is coming… thank you for keeping your head on your shoulders for us brother

Member: good night and sweet RV dreams…..

CBD Gurus join the stream tonight ….Please listen to replay for their information 

Iraqi Dinar Exclusive News Today Anticipation Peaks Iraq’s HCL Resolutio...

Experts: Dollar Stability Depends On Creating A “New Platform” With Iran And Syria, 1 AUGUST

 Economic  2024/07/31  Financial and economic experts believe that the stability of the dollar exchange rate depends on creating a new platform for trade with Syria and Iran, and dealing with countries banned from the dollar in another currency.

Like the euro or the Chinese yuan.

The exchange rate yesterday in the parallel market was recorded at 149 thousand dinars for every 100 dollars, although the official rate at the Central Bank is 132 thousand dinars for every 100 dollars. Economic researcher Mustafa Al-Faraj said in a statement to “Sabah” that “the parallel market for the dollar is facing great pressure

By traders and travelers to Iran, Syria and other countries banned from using the dollar,” noting that “this increases the demand for the dollar and thus prices rise.”

He pointed out that "the solution to this problem lies in finding a new platform with these countries and dealing with them in a currency other than the dollar, such as the euro and the yuan, with the importance of finding an appropriate formula for the US Treasury that removes sanctions from our banking sector."

Al-Faraj explained that “Iraq lacks economic diversity and is completely dependent on oil, which has weakened other economic sectors,” explaining that supporting the productive sector can limit the drain on hard currency for imports.

For his part, the official spokesman for the currency market in Sulaymaniyah, Jabbar, explained:

Kuran said that “the rise of the dollar this time is not linked to a political or economic crisis or external factors, but rather is linked to the measures of the Central Bank of Iraq, and it is possible that the bank will control this.”   Height".

The Central Bank called for "taking measures that could reduce the dollar shortage in local markets."

In addition, economic researcher Alaa Al-Fahd expected the dollar exchange rate to gradually decrease in the coming days, explaining that this increase is common with the implementation of any new policy by the Central Bank of Iraq, as speculators try to exploit this in order to increase their profits.

He added, "The Central Bank of Iraq has discussions and procedures with the US Federal Reserve in order to control the exchange rate in the parallel market, and we hope that these discussions will yield positive results." https://alsabaah.iq/100272-.html