DINAR REVALUATION

Thursday, August 15, 2024

ANALYSIS OF IRAQ NEWS: Baghdad signs 13 agreements to develop oil and gas fields BY DINAR REVALUATION, 15 AUGUST

Baghdad signs 13 agreements to develop oil and gas fields

Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil announced on Wednesday that it signed 13 preliminary agreements to develop 13 oil and gas exploration blocks and fields.

The agreements are part of the supplementary fifth and sixth licensing rounds initiated by the Iraqi government to increase the country’s production of oil, and particularly gas, which Iraq needs to operate its power plants.

The Iraqi Minister of Oil, Hayan Abdul-Ghani, reaffirmed the ministry’s eagerness to increase oil and gas production by maximizing the utilization of available resources, according to a statement cited by the Iraqi News Agency (INA).

The agreements are expected to increase the country’s production of crude oil by 750,000 barrels per day and gas by 850,000 cubic feet per day, according to Abdul-Ghani.

The Iraqi Oil Minister indicated that these additional quantities will be used as fuel to operate power plants and, subsequently, support the energy sector in Iraq by generating electricity.

Iraq currently generates a little over 27,000 megawatts of electricity, but it requires 48,000 megawatts to cover its own demands, according to figures recently disclosed by Ahmed Musa, the Ministry of Electricity’s spokesperson.

80 percent of Iraq’s power plants run on gas, some of which is imported from Iran on a five-year deal, providing 50 million cubic meters of gas every day, according to Musa.

Iraq heavily relies on gas imports from Iran but has recently invested in many projects to start taking advantage of flared gas and using renewable energy to generate electricity.

Gas imports from Iran are extremely important for Iraq to generate electricity. However, US sanctions imposed on Iran make it difficult for Baghdad to pay for the Iranian gas.

Iraq witnesses daily power outages that may last up to 10 hours, but things worsen during the scorching summer when the temperature exceeds 50 degrees Celsius (122 degrees Fahrenheit).

The Iraqi Minister of Electricity, Ziyad Ali Fadel, announced in mid-March that an agreement had been signed with Siemens Energy to turn flared gas into fuel within six months.

Fadel confirmed that the agreement is part of the efforts of the Iraqi government to stop gas flaring and use it to generate electricity.

https://www.iraqinews.com/iraq/baghdad-signs-13-agreements-to-develop-oil-and-gas-fields/

ANALYSIS

Baghdad has recently signed 13 preliminary agreements aimed at developing oil and gas exploration blocks and fields. This move is part of Iraq's broader strategy to boost its oil and gas production capabilities. The agreements are expected to enhance crude oil output by 750,000 barrels per day and increase gas production by 850,000 cubic feet per day.

Iraq’s energy sector has been struggling with significant power shortages. Currently, the country generates about 27,000 megawatts of electricity but needs 48,000 megawatts to meet its demand. About 80% of Iraq’s power plants rely on gas, much of which is imported from Iran. However, due to US sanctions on Iran, payments for this gas have become complicated.

In response to these challenges, Iraq is investing in projects to utilize flared gas and explore renewable energy sources. Notably, an agreement with Siemens Energy aims to convert flared gas into usable fuel within six months. This initiative is part of Iraq's broader effort to mitigate gas flaring and improve electricity generation capabilities.

"IRAQ IS IN PROCESS OF IMPLEMENTING THEIR OWN DIGITAL BANKING SYSTEM" BY GOLDILOCKS, 15 AUGUST

GOLDILOCKS

Iraq Law No. 56 of 2004

Iraq is in process of implementing their own digital banking system. They are moving to an electronic system that allows them to move money within their own International Banking System.

Inside this law is Article 28. Article 28 allows the CBI to buy and sell foreign currency. It can now be done without conditions facilitating finance and international trade.

https://ina.iq/eng/34160-cbi-has-set-up-a-new-system-to-handle-complaints.html

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CBI Sent Currency Exchange Instructions to Banks🚩Be Ready For It🤔Dinar R...

ANALYSIS OF IRAQ NEWS: Parliamentary Finance Committee discusses with US Embassy the financial and banking system and the lack of dollars in the market BY DINAR REVALUATION , 15 AUGUST

Parliamentary Finance Committee discusses with US Embassy the financial and banking system and the lack of dollars in the market

The Parliamentary Finance Committee confirmed, today, Tuesday, discussing the financial and banking system and the lack of the dollar in the Iraqi market with a delegation from the US Embassy in Baghdad.

A statement by the Parliament's media department received by / Today's News / stated that "the head of the Parliamentary Finance Committee, Atwan Al-Atwani, received at the committee headquarters, in the presence of Representative Khalil Al-Dawski, today, Wednesday, a delegation from the US Embassy in Baghdad, Minister Counselor for Economic and Trade Affairs Julie Jules, Deputy Counselor for Economic and Trade Affairs Angel Fintling, Macroeconomic Officer, Economic and Financial Section Michael Pinnell, and Economic Assistant/Economic Section, to discuss the financial and banking system in the country, Ammar Al-Ammar."

The statement continued, "The meeting discussed the financial and economic situation in the country and the repercussions of the parallel market issue and its negative impact on the government economically, in addition to the lack of the dollar currency in the market, and the sanctions imposed on some banks, as well as the issue of the electronic platform for exporting the currency."

The head of the committee stressed "the importance of high coordination between the two sides in order to solve the pending financial problems, in addition to the importance of transparent dealing to benefit from the capabilities, and not resorting to dealing in another currency," noting "the need to create an atmosphere of understanding and invest in building bilateral relations on this basis. "

Al-Atwani stressed "the committee's keenness to commit to combating financial corruption and confronting money laundering, as they are the basis for building societies, in addition to coordination in order to make correct decisions in this regard."

For her part, the Minister Advisor for Economic and Trade Affairs said that "there is a real opportunity for cooperation and reform of the economic and financial system between the two sides," stressing "working together to find appropriate solutions to all problems for the stability of Iraq as a basic ally of the United States."

The statement noted "providing clarification on the three-year general budget and plans for banking regulation and reform of the spending process, and how to finance projects, in addition to the importance of supporting the private sector and involving it with the public sector, which confirms the importance of investing the revenues achieved and the possibility of providing the service."
According to the statement, Al-Atwani pointed out the "ambition to legislate a law on partnership between the public and private sectors and involve the private sector in the market, in addition to working to amend the tax law and shift from the paper system to the electronic system." link

ANALYSIS

The Parliamentary Finance Committee in Iraq held a meeting with a delegation from the US Embassy in Baghdad to discuss the challenges facing the country’s financial and banking systems. The meeting, which included key figures like Julie Jules, Angel Fintling, Michael Pinnell, and Ammar Al-Ammar, focused on several critical issues:

Dollar Shortage: One of the major topics was the shortage of dollars in the Iraqi market, which has created significant economic challenges.
Parallel Market: The committee discussed the negative effects of the parallel market on the economy, particularly its impact on the government.
Sanctions on Banks: The sanctions imposed on some Iraqi banks were another area of concern.
Electronic Currency Platform: The implementation of an electronic platform for currency exchange was also reviewed.

The head of the Parliamentary Finance Committee, Atwan Al-Atwani, emphasized the need for close cooperation between Iraq and the US to address these financial issues. He stressed the importance of transparency and the benefits of bilateral relations to solve these problems.

The Minister Counselor for Economic and Trade Affairs, Julie Jules, acknowledged the potential for cooperation and reform, highlighting the opportunity to work together on solutions that support Iraq’s stability.

The discussion also touched on the three-year general budget, plans for banking regulation, and the financing of projects. Al-Atwani expressed a commitment to combating financial corruption and money laundering, which he sees as foundational to societal development. Additionally, there was a focus on involving the private sector more actively in the economy and modernizing the tax system.

LATEST FROM GINGER, 15 AUGUST

GINGER

💢 Happy News!! Only worked one hour earlier and got most of the workday approved VTO. Been a productive catch all day, getting things done and even spent time with Mr Ginger. Please pray with me that the last hour and a half gets cleared, too? (My 8 - 930 PM) It's been nice having a bit of time to focus on other stuff at home. 🏡💓🏡💓🏡 Love you GLL family

....

Getting some positive news from Triple Cabin Extravaganza Happy Campers - just waiting until there's something solid to tell you other than, "We're waiting". There's no bad news whatsoever - so at least that's a plus. You know me -- tryna vet it before I tell it. 😉☺️

Maintain that circumspect focus, friends. Look at all avenues and then you won't get blindsided when what "they" said doesn't happen when "they" said it would.

~ Gin Gin 8.13.24

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GINGER

Freedom Prevails, Liberty Lounger Extraordinaire

💥 Here are screenshots of the CBI website ... this IS SO EXCITING ...I can't translate the PDF exactly, but it has to be the instruction on currency exchange!!!!! I can feel the sand between my toes already and the sun shining on my face .... LET'S GO!!!! 🔥❤️🔥

💢 Goldilocks confirmed this has to do with Foreign Exchange Service Providers Working Procedures 😁

8.13.24

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Coffee with MarkZ. 08/15/2024

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: Welcome to the never ending Groundhog day.

Member: Well, even Bill Murry eventually gets a happy ending…..we will too

Member: Wish we knew for sure something was really happening. This “behind the scenes stuff” sucks.

Member: Today is the anniversary of when Nixon took the US off the Gold standard. 8-15-1971

Member: Maybe it’s a good day for the US to go back on the gold standard???

Member: We may be waiting for after the elections for that …imo

Member: Any good RV news today Mark?

MZ: Well the hopium everywhere is off the charts

Member: Hopium up just like the DOW 362

Member: I don’t listen to any hopium anymore! Hope deferred makes the heart sick! No wonder so many are in a bad emotional way!

MZ: Someone shared this with me…a great breakdown from your own Government ” The Pigford Cases- USDA Settlement of discrimination suits by black farmers” This is a summary of the this settlement case …I will include the link in todays links ……This is where we are seeing movement.

https://nationalaglawcenter.org/wp-content/uploads/assets/crs/RS20430.pdf

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

MZ: I was told from day one that these settlements are part of the farm claims process…and on the heels of those will be CMKX. That we are seeing movement on the farm claims makes me feel warm and fuzzy. This is probably the best news in the last couple of weeks.

Member: How many of your farm claims contacts have disappeared?

MZ: Three of my 14 contacts have disappeared. I know that some have received substantial funds that magically and mysteriously appeared in their bank accounts with no explanation…no restrictions.

Member: I cannot wait until we all get up and find money in our banks. It can happen

MZ: The bond side remains quiet…I am still looking for someone I know personally to confirm they have money. There are lots of folks saying they know people secondhand that have funds…..but none I know personally. But I won’t get excited until someone I know in real life tells me this.

MZ: The group side is also quiet….lots of circletel….lots of rumors….nothing I would call ‘reputable”

Member: BANK story. My 84 yo mom went to the bank to get checks printed & they would only give her 10. She said hopefully this will last until the RV. The lady just nodded and smiled

Member: Teller at Wells Fargo on Monday, when I asked her if she was excited about her QFS Account said "Yes! We have had a lot of training on those."

Member: Big Rumor…..All U.S. banks have been purchased by the New U.S. Treasury (which has relocated from Washington D.C. to the Sparks Indian Colony near Reno, Nevada) why Indian land? Sovereign non Corporation soil

Member: In Iraq: Cant help but think CBI training their employees on FX is highly relevant. Who trains their personnel on something they wouldnt want implemented immediately? You would have to train them twice.

Member: Any word on the HCL in Iraq?

MZ: It is still back in the Parliamentary committee to rewrite a few of the paragraphs…then it will go to parliament….which could be any day….. When it is approved you won’t have to ask…I will be screaming it out…..

MZ: “ A retail Apocalypse is gaining momentum all over America. Is your favorite chain closing stores?” I have been talking about this for days…and “US Living Standards in grave danger” Anyone who says differently is lying to you

Member: I absolutely believe that the RV is ready to go, they are just taking it to whatever point they plan on flipping the switch

Member: You have no control over the hand that life deals you, but how you play that hand is entirely up to you.

Member: Wishing all MarkZ's Mods a fantastic day!!!! Thank you for all you do.

Member: Have a blessed day everyone.

Be sure to listen to replay for all of MarkZ’s guests…

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

ANALYSIS OF IRAQ NEWS: With an increase in recent months.. Iraq's internal debt exceeds 78 trillion dinars - Urgent BY DINAR REVALUATION, 15 AUGUST

With an increase in recent months.. Iraq's internal debt exceeds 78 trillion dinars - Urgent

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that Iraq's internal debt exceeds 78 trillion dinars, with an increase in recent months.

Saleh said in a statement to (Al-Rabia) that "Iraq's move towards borrowing from the domestic banking market to finance two waves of the general budget deficit came under the influence of the decline in the oil assets cycle and in two different periods during the current decade. The first wave of borrowing, which amounted to nearly 27 trillion dinars, was financed by the government banking system through purchasing treasury transfers during the intensification of the security crisis (the entry of the terrorist ISIS) between the years 2014-2017."

He added that "the International Monetary Fund estimated at that time the current account deficit gap of the balance of payments due to the decline in oil prices to be no less than 18 billion dollars cumulatively during those years, and the second wave occurred between the years 2020 and 2021, that is, during the health crisis with the spread of Corona and the closure of the global economy, which was accompanied by a decline in oil prices and a decline in budget revenues and the loss of more than 40% of the value of the oil barrel

While the legislation of the general budget law for the fiscal year 2020 was absent and was replaced by three legislations to finance the deficit, two of which were for direct domestic borrowing and two separate laws issued by the House of Representatives, that by heading towards the domestic borrowing market and the other is the Food Security and Development Law, and an important aspect of it was based on domestic borrowing as well, which raised the level of domestic debt to exceed the barrier of 78 trillion dinars." link

ANALYSIS

Iraq's internal debt has indeed risen sharply, surpassing 78 trillion dinars recently. This increase is largely due to two significant periods of economic strain.

2014-2017: During this time, Iraq faced severe financial pressure due to the rise of ISIS and a drop in oil prices. The government borrowed approximately 27 trillion dinars from domestic banks to cover the deficit caused by these challenges.
2020-2021: The COVID-19 pandemic further exacerbated economic difficulties, with falling oil prices and decreased budget revenues. During this period, Iraq enacted several laws, including the Food Security and Development Law, which relied heavily on domestic borrowing. This pushed the total internal debt above 78 trillion dinars.

These borrowing waves were necessary due to reduced oil revenues, which are crucial for Iraq’s economy, and the need to finance the budget deficits arising from various crises.