Wednesday, August 14, 2024
IRAQ MUST TO ELIMINATE THE CORRUPT PRACTICES INVOLVING COMPANIES LINKED TO POLITICAL FORCES BY DINAR REVALUATION, 14 AUGUST
Iraq Loses One Trillion Dinars Annually.. MP: Corruption In Ports Is "Dangerous"
Economy |Baghdad Today – Baghdad Member of Parliament Yasser Al-Hussaini revealed, today, Wednesday (August 14, 2024), that Iraq is exposed to a loss of one trillion dinars annually due to corruption in the ports, while describing what is happening in the ports as "dangerous."
Al-Hussaini said in an interview with Baghdad Today, "The parliamentary investigation committee continues to collect documents and evidence that prove day after day the extent of the major violations of public funds, and the documented numbers confirm beyond doubt that they are higher than what we mentioned previously in terms of losses and financial violations in general."
He added, "What is happening in the ports is the mortgage of this large economic facility to companies affiliated with political forces for decades through contracts that oblige the government, noting that Iraq loses nearly a trillion dinars annually that goes into the accounts and pockets of companies."
Al-Hussaini pointed out that "what is happening in the ports is dangerous and what we have revealed so far raises many question marks, stressing that all investigations and documents will be submitted to the Iraqi judiciary."
On Friday (July 12, 2024), the head of the Parliamentary Order 160 Committee to investigate suspicions of corruption in Iraqi ports, Yasser Al-Hussaini, revealed 3 results that he described as “bitter” in the Basra ports file.
Al-Husseini told Baghdad Today, "What we are doing is perhaps the most important parliamentary investigation to preserve the wealth of Iraqis by addressing a sensitive and dangerous file due to the huge amount of money and the administrative and financial violations that have been detected."
He added, "Investigations are continuing into the file of suspicions of financial and administrative corruption in Iraqi ports, despite the existence of three-dimensional pressures from influential political and governmental parties in a single attempt, which is to undermine the work of the committee as much as possible and obstruct what it is doing."
The MP said, "Three bitter facts were revealed: the waste of 20 trillion dinars is not suspicion, but a fact. There is a lot of evidence accompanied by long decades that mortgage Iraq's wealth to corrupt political parties. In addition, the extent of the pressures revealed the identity of those who want to keep the scourge of corruption eating away at the ports to sustain their coffers with money, without caring about the harm it causes to the Iraqis."
He considered that "the investigation into the Basra ports file is the most dangerous and important and is a courageous step in confronting the scourge of corruption that has large arms," stressing that "what we seek is to preserve public money and stop the draining of the country's wealth."
Member of the Parliamentary Integrity Committee, Ali Turki, had previously stated that the committee formed to investigate corruption files in the ports had failed in its mission.
On April 15, the acting Speaker of Parliament, Mohsen Al-Mandalawi, decided to form a parliamentary committee to investigate “violations” at Iraqi ports.
The committee is formed under the chairmanship of MP Yasser Hashem Al-Hussaini and the membership of MPs Faleh Al-Khazaali, Hassan Salem Abdul Rahim Al-Shammari, Mona Al-Sabil, Siban Aziz Soran Omar Muwaffaq Hussein Saud Al-Saadi Abdul Amir Al-Mayahhi Alaa Al-Haidari Ali Al-Maksousi, and Rafiq Al-Salihi. It is responsible for investigating violations in Iraqi ports, and the committee will be supported by employees from the ministry and the relevant bodies according to the committee’s needs, and the results of the investigation will be presented to the House of Representatives.” LINK
ANALYSIS
The recent revelations about corruption in Iraq's ports have exposed a severe economic crisis, with the country reportedly losing one trillion dinars annually. This loss is attributed to corrupt practices involving companies linked to political forces, which have allegedly been siphoning off public funds through long-term contracts.
Member of Parliament Yasser Al-Hussaini has described the situation as "dangerous" and outlined that the parliamentary investigation is uncovering significant financial violations. He emphasized that these investigations are crucial for addressing the misuse of Iraq's resources and stopping the drain on the country’s wealth.
The investigation has revealed three major issues: the massive waste of 20 trillion dinars, the involvement of corrupt political parties, and the substantial pressures exerted to hinder the investigation’s progress. Despite these challenges, the committee, led by Al-Hussaini, continues to pursue accountability and transparency, aiming to bring the perpetrators to justice.
The corruption in the ports has been a persistent issue, and the parliamentary committee's efforts represent a crucial step toward addressing and mitigating these problems. The results of the ongoing investigation are expected to be submitted to the judiciary, potentially leading to significant legal and administrative reforms.
LATEST FROM GOLDILOCKS, 14 AUGUST
GOLDILOCKS
The Governor of the CBI in Iraq "chaired the first preparatory meeting to establish a national company to manage central electronic payment systems in Iraq, with the participation of a number of bank officials, bank managers, electronic payment service providers, and the Iraqi Private Banks Association."
Iraq is preparing themselves for the full integration of their new Digital Banking System. They are currently working out the details of implementation that would become a National protocol for their new Banking System.
It is good to see them get to this point, so they can begin the process of implementing their new banking reforms inside an International Electronic Payment System.
© Goldilocks
https://cbi.iq/news/view/2639
https://t.me/GoldilocksQFSD
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Let's take a closer look at where we are. About a week ago, we learned that the new QFS was placing ISO20022 codes to our new digital currency.
Today, we are witnessing a place to record these Global currencies through Digital Ledger Technology (DLT).
And, we are being reminded that the CFTC will be governing them. We now have a storehouse of value through Bitcoin on our markets and a smart contract Network through Ethereum to insure that enough money is on both sides of a trade. Ripple has been set free and will be moving digital currencies around on the new digital markets. Finally, we have several cryptos indexed into pairs against Ripple allowing crypto guidance for these digital coins to come up to par with Ripple.
Will Ripple replace Swift entirely or live-in coexistence together? We are already experiencing a coexistence in some cases. As Ripple adapts and expands into payment processes around the world, the ability to move into the primary source of payments will make it the new digital World Reserve Currency.
Is it time for MICA regulations to be introduced in America? It's coming, and new laws will be giving them validation, so a green light for the new QFS can commence.
© Goldilocks
THE NEED OF PRESERVE THE NATIONAL WEALTH AND ADDRESS THE OIL SMUGGLING ISSUES IN IRAQ BY DINAR REVALUATION, 14 AUGUST
Masoud Barzani Calls For National Wealth And Wants To Preserve It, But What Is The Story Of The “Committees Of Commitment”?
Politics |Baghdad Today – Baghdad Today, Wednesday (August 14, 2024), the leader of the Coordination Framework, Saad Al-Saadi, revealed the results of the agreement between the framework and the leader of the Kurdistan Democratic Party, Masoud Barzani, regarding the oil smuggling file.
Al-Saadi told Baghdad Today, "Smuggling natural resources, including oil, in any country represents a drain on the economy, destruction of infrastructure, and loss of the rights of the people of all stripes. Therefore, the smuggling file must be stopped."
He added, "During the visit of the President of the Kurdistan Democratic Party, Masoud Barzani, to the capital, Baghdad, and his meeting with the leaders of the framework, the issue of natural resources was actually raised within a broad agreement to preserve them as a national wealth."
He continued: "It was agreed to form committees whose mission is to oblige all parties to abide by the decisions of the Federal Court on the oil and gas file, in addition to the rest of the other agreements with Baghdad," adding: "We hope at the same time that there will be seriousness and credibility on the part of our brothers in the region in implementing the terms of the agreement."
He pointed out that "the management of oil and other wealth by the central government and its institutions is within the context of the Iraqi constitution, and this will must be respected and adhered to because it will address many problems and provide greater protection for the national wealth."
The visit of the leader of the Kurdistan Democratic Party, Massoud Barzani, to Baghdad attracted attention because it came after six years of "estrangement" with the ruling political class in Iraq, which suggests that a remarkable development has occurred in the relationship between the Kurdistan Region and the central government.
Political circles believe that the aim of the visit is to crown the partial understandings that occurred recently and covered several files with a comprehensive settlement between the region and the centre.
Barzani's presence as a prominent Kurdish figure aims to lend legitimacy to the settlement and raise its value so that it appears to be an important event and not just a passing meeting, which is what the central government needs to confirm its ability to bring the region's leaders to its square, while the settlement reduces internal pressures on the region's officials, especially if he succeeds in ensuring smooth and continuous payment of salaries. LINK
ANALYSIS
The recent developments involving Masoud Barzani and the Coordination Framework in Iraq reflect a significant shift in the political landscape concerning the management of natural resources, especially oil.
Background Context:
Masoud Barzani's Visit: Masoud Barzani, a prominent Kurdish leader and head of the Kurdistan Democratic Party (KDP), made a notable visit to Baghdad after a six-year hiatus. This visit is seen as a strategic move to address and resolve long-standing disputes between the Kurdistan Region and the central Iraqi government.
Committees of Commitment: During his visit, Barzani and the Coordination Framework, a coalition of Iraqi political groups, agreed on the formation of specialized committees. These committees are tasked with enforcing compliance with decisions from the Federal Court regarding oil and gas management. Their broader mandate includes ensuring adherence to agreements made between the Kurdistan Region and Baghdad, with a focus on preserving national wealth and addressing oil smuggling issues.
Key Points of the Agreement:
Objective of the Committees: The committees' primary role is to oversee and ensure that all parties adhere to the Federal Court's rulings on oil and gas management. This move aims to tackle the smuggling of natural resources, which is seen as detrimental to the country's economy and infrastructure.
National Wealth Protection: Both Barzani and the Coordination Framework emphasize the need to preserve Iraq's natural resources as national wealth. This is intended to safeguard these resources from misuse and ensure they benefit the entire country rather than being exploited for regional or individual gain.
Central Government Control: The agreement underscores the importance of managing oil and other resources through central government institutions in line with the Iraqi constitution. This is expected to resolve many ongoing issues and offer greater protection for Iraq's national wealth.
Political and Economic Implications: Barzani's visit and the subsequent agreement signify a potential thaw in relations between the Kurdistan Region and the central government. The settlement aims to address internal pressures within the Kurdistan Region by ensuring regular and transparent salary payments and other financial commitments.
Broader Impact:
Political Settlement: The visit and agreement highlight a significant effort to mend relations and settle long-standing disputes. The presence of Barzani lends considerable weight to the settlement, aiming to solidify it as a crucial development rather than a transient event.
Regional Stability: Successful implementation of the agreement could enhance stability in both the Kurdistan Region and the broader Iraqi state by addressing economic grievances and improving governance over national resources.
This development suggests a pivotal moment in Iraqi politics, with potential long-term implications for resource management, regional autonomy, and national unity.
LATEST FROM MIKE BARA, 14 AUGUST
MIKE BARA
Tues. 13 Aug. 2024 Mike Bara
“I have been given a date of Wed. 21 Aug. for the revaluation of the Iraqi dinar. The bond holder remains excited about the possibility he will get paid today.”
---A contact went to the bank (Big 4) today to buy more currency.
He was told by the manager, who acknowledges the RV, not to bother, because he would be coming back to exchange in "two days."
Same contact was also told that "this week" the market would drop "2,000 points."
That's not enough to make an impact. I think he misheard and was told the market would drop TO 2,000 POINTS. Don't forget, Andy Schectman predicted this on my interview with him two weeks ago. (link below).
He said the US markets could drop to the value of Gold, which is around $2,454 an ounce.
Also hearing the Crowdstrike hackers got access to the crash protection algorithms, and that when the plunge begins, they won't be able to halt trading. This is how it will be portrayed anyway. https://mikebara.blogspot.com/2024/07/the-new-gold-standard-with-mike-bara.html
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...