Saturday, November 30, 2024
Iraq Signs Mecca Agreement To Enhance Cooperation In Preventing And Combating Corruption, 30 nov
Iraq Signs Mecca Agreement To Enhance Cooperation In Preventing And Combating Corruption
Iraq signed, on Wednesday, the Mecca Agreement to enhance cooperation in the field of preventing and combating corruption and recovering its proceeds.
A statement by the Integrity Commission, received by the Iraqi News Agency (INA), stated that “Iraq signed the Mecca Agreement for the member states of the Organization of Islamic Cooperation in the field of enforcing anti-corruption laws, as the Council of Ministers authorized the Federal Integrity Commission to sign the agreement.”
The statement added, "This came during Iraq's participation, represented by the Commission, in the second ministerial meeting of anti-corruption law enforcement agencies in the member states of the Organization of Islamic Cooperation, held in the Qatari capital, Doha, from November 26-27."
He pointed out that “the meeting resulted in several decisions, including: establishing mechanisms to activate what is stipulated in the Makkah Agreement for Cooperation in the Field of Law Enforcement stipulated in Chapter Two of the Agreement, with regard to persons suspected of committing corruption crimes, or the locations of other concerned persons, and the movement of criminal proceeds or property derived from committing those crimes.”
The statement explained that “the agreement aims to enhance cooperation between anti-corruption law enforcement authorities in an efficient and rapid manner, encourages joining the Riyadh Global Initiative Network, provides a legal framework for the direct and rapid exchange of information and investigations, and contributes to preventing corruption crimes and limiting safe havens for the corrupt.”
GLOBAL CURRENCY RESET : Dinar $4.21, VND $2.47, Bolivar $.83, ZIM $.30 BY JULIAN ASSANGE, 30 NOV
JULIAN ASSANGE
GLOBAL CURRENCY RESET:
· Thurs. 28 Nov. 2024 Wolverine: “I’m under an NDA so can’t say much, but we are going to have a wonderful Christmas. Check your emails at hourly.”
Thurs. 28 Nov. 2024 TNT Call:
· We got a call from the committee guy. He said the IMF and UN just had a meeting and I was told to call and tell you the currencies that have been green lighted to go are the Iraqi Dinar, ZIM, Venezuela Bolivar, Dong and Zimbabwe ZIM.
· The rest of the 4-5 countries currencies are being renegotiated.
· Janet Yellen is gone. She resigned this past Sun. morning.
· They are all afraid of the new administration.
· They are supposed to vote on Friday in Parliament.
· They were told it’s imminent. Be ready. No time set. They are on call right now.
· Dinar $4.21, VND $2.47, Bolivar $.83, ZIM $.30
· CIA guy said a bank memo said to get your people ready for Friday after 2 pm, or the weekend.
· So enjoy your holiday and get ready at a moment’s notice to get to the banks.
· Thurs. 28 Nov. 2024: NESARA - GESARA - MED BEDS… Here You Go: Earth Alliance White Hats, Including Presidents Trump, Xi, Putin, Other Earth Alliance Leaders, and All of You Awakened in Humanity
· Thurs. 28 Nov. 2024 Jon Dowling: “Wells Fargo is ready to go with the QFS and the US Debt Clock is Gold! 62,000 wealth managers nationwide ready to go! Get your affairs in order. Early Christmas thus year! Iraq finishing all the important laws this week.”
· Thurs. 28 Nov. 2024: Russia and Iran have completely abandoned the US dollar in bilateral trade, shifting entirely to national currencies. "We have entered into a currency agreement with Russia and abandoned the dollar. Now we only trade in rubles and rials."
E-Payment Team: Iraq Will Witness A Major Electronic Transformation Next Year, 30 NOV
E-Payment Team: Iraq Will Witness A Major Electronic Transformation Next Year
Head of the electronic payment team in Iraq, Nabil Al-Najjar, confirmed today, Friday, that Iraq will witness a major electronic transformation next year.
Al-Najjar said in a statement to the Iraqi News Agency (INA): “The number of cards for electronic payment users has exceeded 18 million cards, which means that a third of the Iraqi people use electronic payment cards,” noting that “there is a government trend in favor of electronic payment through some decisions, and this indicates a major shift in the Iraqi economy.”
He continued, “The Iraqi market is heading towards major digital campaigns in accordance with the economic decisions issued by the government of Prime Minister Mohammed Shia al-Sudani, and it is expected that the year 2025 will witness a major shift in dealing with electronic payment.”
MAJEED: How would Iraq start selling the bonds this Sunday and lower 2% interest rate on these points ??? , 30 NOV
MAJEED
Here is a question for the one who claims to know a lot about finance 
Q:
“A country has high volatility in their currency because it is backed by oil plus, the currency is devalued…. They decided to sell bonds, and reduce 2% interest rate from these bonds auctions…. What would happen to their economy?”
A: 1. Impact on the Bond Market
a. Reduced Attractiveness for Investors
•Lowering the interest rate (yield) on bonds makes them less attractive to both domestic and foreign investors, especially in a volatile economy where investors demand higher returns to offset risk.
•Foreign Investors: If foreign investors are key participants, they might pull back due to insufficient returns compared to the risks associated with currency volatility and devaluation.
•Domestic Investors: Domestic investors might also shift their funds to other investments, such as foreign currencies or real assets like gold, further pressuring the currency.
b. Difficulty in Financing
•If demand for bonds decreases, the government may struggle to raise the funds it needs, forcing it to issue bonds at higher rates later or reduce planned expenditures.
————————————
2. Impact on the Currency
a. Depreciation Risk
•If foreign investors withdraw or avoid purchasing bonds, there will be less demand for the local currency, leading to further devaluation.
•The devaluation could spiral if confidence in the government’s ability to manage debt or stabilize the economy erodes.
b. Increased Volatility
• The combination of a devalued currency and lower bond yields could heighten speculation in the currency market, leading to greater volatility.
———————-
3. Impact on Inflation
a. Imported Inflation
•A weaker currency increases the cost of imported goods, contributing to inflation. In oil-dependent economies, essential imports like food and machinery often make up a significant portion of trade.
•This could erode purchasing power further, especially if wages do not adjust.
b. Domestic Price Pressures
•Inflation could also increase domestically as businesses face higher costs for imported inputs, which they may pass on to consumers.
4. Impact on Public Confidence
a. Erosion of Trust
•Reducing bond interest rates in an already unstable environment may signal desperation or poor financial management, leading to a loss of confidence among businesses and the public.
•Citizens may shift their savings into foreign currencies, gold, or other assets, further weakening the local currency and increasing volatility.
b. Black Market Activity
• If the local currency continues to devalue, a parallel black market for foreign currency could thrive, undermining the central bank’s control over monetary policy.
—————-
5. Potential Long-Term Effects
a. Fiscal Challenges
•A lack of success in bond auctions could increase reliance on other, potentially riskier financing methods, such as printing money, which could lead to hyperinflation.
•Alternatively, the government may need to cut spending on critical services and infrastructure, worsening economic conditions.
b. Economic Contraction
•Higher inflation, reduced investor confidence, and currency instability could discourage private sector investment, dampen consumer spending, and slow economic growth.
solution
Policy Considerations
To mitigate these effects, the government must pair bond issuance and interest rate reductions with complementary policies, such as:
1.Strengthening Currency Stability: Implement measures to stabilize the currency, such as managing oil revenue flows or increasing foreign exchange reserves.
2.Improving Investor Confidence: Use clear communication to signal that bond issuance is part of a broader, well-planned economic strategy.
3.Encouraging Domestic Participation: Provide incentives for local investors to purchase bonds, such as tax benefits or inflation-indexed bonds.
Q:
“A country has high volatility in their currency because it is backed by oil plus, the currency is devalued…. They decided to sell bonds, and reduce 2% interest rate from these bonds auctions…. What would happen to their economy?”
A: 1. Impact on the Bond Market
a. Reduced Attractiveness for Investors
•Lowering the interest rate (yield) on bonds makes them less attractive to both domestic and foreign investors, especially in a volatile economy where investors demand higher returns to offset risk.
•Foreign Investors: If foreign investors are key participants, they might pull back due to insufficient returns compared to the risks associated with currency volatility and devaluation.
•Domestic Investors: Domestic investors might also shift their funds to other investments, such as foreign currencies or real assets like gold, further pressuring the currency.
b. Difficulty in Financing
•If demand for bonds decreases, the government may struggle to raise the funds it needs, forcing it to issue bonds at higher rates later or reduce planned expenditures.
————————————
2. Impact on the Currency
a. Depreciation Risk
•If foreign investors withdraw or avoid purchasing bonds, there will be less demand for the local currency, leading to further devaluation.
•The devaluation could spiral if confidence in the government’s ability to manage debt or stabilize the economy erodes.
b. Increased Volatility
• The combination of a devalued currency and lower bond yields could heighten speculation in the currency market, leading to greater volatility.
———————-
3. Impact on Inflation
a. Imported Inflation
•A weaker currency increases the cost of imported goods, contributing to inflation. In oil-dependent economies, essential imports like food and machinery often make up a significant portion of trade.
•This could erode purchasing power further, especially if wages do not adjust.
b. Domestic Price Pressures
•Inflation could also increase domestically as businesses face higher costs for imported inputs, which they may pass on to consumers.
4. Impact on Public Confidence
a. Erosion of Trust
•Reducing bond interest rates in an already unstable environment may signal desperation or poor financial management, leading to a loss of confidence among businesses and the public.
•Citizens may shift their savings into foreign currencies, gold, or other assets, further weakening the local currency and increasing volatility.
b. Black Market Activity
• If the local currency continues to devalue, a parallel black market for foreign currency could thrive, undermining the central bank’s control over monetary policy.
—————-
5. Potential Long-Term Effects
a. Fiscal Challenges
•A lack of success in bond auctions could increase reliance on other, potentially riskier financing methods, such as printing money, which could lead to hyperinflation.
•Alternatively, the government may need to cut spending on critical services and infrastructure, worsening economic conditions.
b. Economic Contraction
•Higher inflation, reduced investor confidence, and currency instability could discourage private sector investment, dampen consumer spending, and slow economic growth.
solution
Policy Considerations
To mitigate these effects, the government must pair bond issuance and interest rate reductions with complementary policies, such as:
1.Strengthening Currency Stability: Implement measures to stabilize the currency, such as managing oil revenue flows or increasing foreign exchange reserves.
2.Improving Investor Confidence: Use clear communication to signal that bond issuance is part of a broader, well-planned economic strategy.
3.Encouraging Domestic Participation: Provide incentives for local investors to purchase bonds, such as tax benefits or inflation-indexed bonds.----
How would Iraq start selling the bonds this Sunday and lower 2% interest rate on these points ???
Their currency is already devalued and has high volatility…. It will destroy the economy.
That’s a destruction to the economy .That is pain upon pain .
----
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