Dinar Recaps Blog Page — Dinar Recaps (2024)

TNT:

Tishwash: Government Advisor: “Petro Dinar” Requires Good Stock of Foreign Currencies and Gold

The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, explained today, Sunday, that "the adoption of the dinar in pricing oil, or what is called (petro dinar), requires, first of all, the availability of foreign reserve currencies or gold, as Russia did when it purchased Russian oil with gold-backed rubles, which caused problems that we will discuss later."

He added in press statements that "these foreign reserves must be available (as a necessary condition) and operate according to a high standard of efficiency that guarantees the stability of the exchange rate linked to oil (the petro dinar) in order to hedge against oil price fluctuations to ensure the stability of the exchange rate (the petro dinar) itself."

“Linking oil sales to the dinar on a fixed basis with oil prices instead of the foreign reserves base means linking the dinar to the oil asset cycle first, and that oil is sold according to global oil prices. If the exchange rate of the dinar (petrodinar) against the (petrodollar) is fixed, and oil prices fall, then the demand for the dinar for accounting purposes will certainly fall, and the dinar will be exchanged for oil in larger quantities and the demand for the (petrodinar) will be lower, and vice versa,” he added.

He pointed out that "any deviation between oil prices (petrodollar) and the exchange rate (petrodinar) according to international market data will be considered a cost that requires compensation by paying fewer dinars or collecting a higher dinar in the opposite case," indicating that "international reserve currencies are foreign currencies held by central banks and global financial institutions as part of their cash reserves. These currencies are used in international transactions and settling debts between countries, and are a standard for international payments and facilitating global trade." link

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Tishwash: Parliament falsifies the budget again.. Al-Mandlawi may lose his position!

MP Basem Khashan confirmed the possibility of terminating the membership of the acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, if the charges of tampering with the budget tables that were recently revealed by the Prime Minister’s Office are proven, noting that the parliament committed legal violations in amending the budget tables and they were on their way to being published and implemented had it not been for the government’s scrutiny, indicating that many MPs were subjected to deception in this file.

The Council of Ministers had spoken of an increase of 15 trillion dinars in the last tables, and it was not included in the agreement, discussions and voting, requesting a re-audit.

Khashan said, in an interview with the media figure Ahmed Mulla Talal:

The budget tables sent by the Council of Ministers were changed and their allocations were manipulated in the House of Representatives in an illegal manner.

The forged schedules would have been published and implemented had it not been for the Cabinet's scrutiny.

Most of the budget schedules have been changed, and the process has been carried out by ignoring a large number of parliamentarians.

The legal violations committed by the House of Representatives in amending the budget tables are countless and are considered a major crime.

The funding for the ration card basket has been increased to 5 trillion dinars for contracts that include major problems.

Manipulation and alteration operations can be legally classified under the crimes of alteration with the intent to defraud, regardless of the size of the amounts and figures that were manipulated.

The acting Speaker of the House of Representatives is responsible for tampering with the budget tables sent to the Cabinet.

The Federal Court can terminate Mohsen Al-Mandalawi’s membership, if the charges of manipulation are proven. link

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Tishwash: Iraq: Qusay Shafiq reveals major financial scandals and demands investigation

Public money scandals continue in Iraq

Dr. Qusay Shafiq, a well-known activist on social media, sparked widespread controversy after revealing huge financial scandals related to the management of public funds in Iraq. He accused the government and parliament of manipulating the financial budget tables, wondering about the fate of tens of billions of dollars that were not spent transparently.

Shafiq referred in a tweet onthe “X” websiteto what he described as the “theft of the century,” which the Integrity Commission estimated at $2.5 billion, equivalent to 4 trillion Iraqi dinars. However, he expressed his surprise at the large gap between this figure and the ongoing corruption in manipulating the budgets of recent years, as he revealed that the manipulation of the 2024 budget tables reached about $10 billion.

In a related context, Shafik touched on the Food Security Law, noting that about $20 billion has been allocated to it, but he wondered about the entities that monitored the disbursem*nt of this money, stressing that the Ministry of Finance and the Central Bank have not received any of this money so far. He added, “$10 billion was spent on infrastructure projects, but where did the remaining $10 billion go?”

Shafik discussed the budgets of previous years, including the budgets of 2014, 2020, 2022, and 2023, noting that no funds were disbursed to the governorates from the 2023 budget. This raised questions about how the authorities deal with public funds, especially in light of the Central Bank’s report, which indicated that the cash reserve had not increased despite the significant rise in oil prices due to regional conflicts.

Qusay Shafiqconcludedhis statements by calling for a comprehensive investigation into previous financial deals, stressing that the people’s money is a trust that must be preserved. These statements come at a time whenIraqis witnessing increasing pressure from citizens and international observers, who are demanding greater transparency and accountability in the management of public funds.

Shafiq's statements are a strong call for regulatory bodies and government authorities to take urgent action to curb corruption and clarify the fate of the allocated funds, as the Iraqi people await answers on how their financial wealth is managed. link

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Tishwash: Urgent In numbers.. The Central Bank buys dollars from the Ministry of Finance in an unprecedented move since 2003

An economic expert revealed an “unprecedented” figure for the value of the dollars purchased by the Central Bank of Iraq from the Ministry of Finance during the month of July.

Coffee with Zester

Some highlights by PDK-Not verbatim

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: GM Zester, mods, and RV family

Zester I am hoping this is the week we are all blessed.

Zester: Pops (MarkZ) is currency undergoing the stem cell treatment. He is in good spirits. He will give an update as soon as he can about the first treatment. Please keep pops in your thoughts and prayers.

Zester: MilitiaMan gave a great update on articles last night (Be sure to go listen)

Zester: “ CBI sells $271 million in forex on Monday” This is $271 million dollars for Iraqi dinar. This is a regular occurance via the auctions. This article

Zester We are expecting a bond update tomorrow mid-day.

Member: Anyone else think it would be massively ironic if the RV happened while MarkZ is away?!

Member: Zester- when do you think the RV will happen?

Zester: I always thought it would be great fun for it to happen while pops is on a break…keeping my fingers crossed it happens in the next couple of days…but, no one knows…..If it was my choice it would have happened years ago. But I am confident it will happen.

Member: MarkZ said on Saturday to watch today and tomorrow for possible big bond news…..so thanks Zester for keeping us posted.

Member: IMO it will happen between today and Weds. Watch for something big to happen today

Member: IMO- Iraq wants its money valued as high as possible in order to benefit its people and to entice other countries’ to invest in Iraq and be willing to bring heavy equipment to build buildings, bridges

Member: Zester thank you for your dedication and hard work

Member: Prayers for pops…..for healing and recovery….everyone have a great day.

Stacie Z joins the stream today . Be sure to listen to the replay for her information

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!

Twitch: https://www.twitch.tv/theoriginalmarkz

Youtube: https://www.youtube.com/watch?v=dmomcjKDadY

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

Global Currency Reset: (Rumors/Opinions)

Sat. 17 Aug. 2024 Wolverine: “It’s all coming through this next week. Exciting things have happened, but I’m not allowed to say what. People are expecting something Sun. night 18 Aug. Just to let you know guys is to get ready. I’m sorry that I can’t say anything as everyone is under total NDA now and soon I will be as well. That opera will be release any day now.

Wolverine cont…….Thank you for all the support you have all given me as this is one of the most hardest things that I have done in my life as it has control our way of life for years and played with our emotions. We have seen so many of our compatriots that did not make it and thankfully their family will cross the finish line for them. During this journey I never thought that I was going to be attacked viciously and even to this day the attacks are still continuing.

I know within my heart that I’m doing God’s work and that too many of you are suffering and you need hope and a messenger to know what is going on. As soon as I’m under NDA you won’t hear from me anymore but my job has been completed and I can leave with good conscience that I have done everything possible to help you.

The opera will be release once I receive the green light. Don’t forget the Get Together in February 2025 here in Sydney as we are planning to have the biggest party that Sydney has ever held with all these patriots coming from so many countries. Remember that it’s going to be a gala night and so wear your best clothes everyone. I’ll let you all know the day and the address of the Get Together. Love you all. Your friend Wolverine.”

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Sat. 17 Aug. 2024 Free and Easy Missouri on Telegram Fri. 16 Aug. 2024: On Fri. 16 Aug. we were told it would go between 12 noon and 12 midnight. It did go through so you know some people got paid yesterday. Banks were putting it in to make sure it would go. This morning Sat. 17 Aug. there are people getting paid. Certain people have privileges that you don’t have yet. Some will be elevated there by Mon. 19 Aug. Should have 800#s tonight after 5 pm. The system is live and it’s working. If not tonight, then we’ll start tomorrow morning.

Fri. 16 Aug. 2024 TNT Tony: “The system is live and working. People high up exchanged Thurs. 15 Aug. and Fri. 16 Aug. The system is working. We are hours maybe a day away. Iraq officially RV’d with a Rate of $3.19, Contract Rate $28.50 after Banks closed Sat. 17 Aug.Tier4b (us, the Internet Group) will be notified Mon. 19 Aug. with exchanges beginning Tues. 20 Aug.”

Fri. 16 Aug. 2024 MarkZ: Mark was hearing the process was underway. More bond contacts continuing to anticipate payments through the weekend. One large group in Reno is expectant but hasn’t started yet. Redemption Centers on standby. Mark suggested things could very well start this weekend but don’t be disappointed if it takes an extra day or two.

Thurs. 15 Aug. 2024 Bruce: “The USN will be on the Forex Sun. night 18 Aug. and will be seen on bank screens Mon. morning 19 Aug. Tier4b(us, the Internet Group) should get notified sometime by Tues. 20 Aug. 2024.Tier 4b exchange/redemption appointments should start by Wed. 21 2024.”

Thurs. 15 Aug. 2024 Farm Claims liquidity, Ginger’s Liberty Lounge: Reports regarding Farm Claims settlements being paid are accurate; and this is a very nice item which we can happily check off our “non negotiable list”. I was unable to share the exact details from my own confirmed contact, so I am sharing this other news passed along from someone else. 8.14.24. Lamb: “I just got off the phone with a friend of mine, she told me that her friend that had registered with the farm claim packages … He woke up to $500,000 in their bank account with no explanation, no nothing, he showed her the bank statement and knows this other person had “no pot to piss in” before (per se). So the statement about farm claims being paid is 100%.”

Fri. 16 Aug. 2024 RV Highlights: Nesara will be announced first. This way the PUBLIC (everyone) will receive financial relief from debts.The RV will also be released QUIETLY for T4b for us to revalue. Once 4b is done or nearly done, then the public will commence on their exchange. The purpose of the NDA is to keep T4b mouths shut (or their funds will be clawed back) regarding the amount of rates being paid out because the PUBLIC will NOT be receiving the same high rates.This is to keep the PUBLIC for being upset and causing backlash.

Sat. 17 Aug. 2024: BOOOM!!! A Comprehensive Disclosure of the NESARA/GESARA Global Economic System: Exploring the Benefits of a 100% Gold Asset-Backed Currency, Price Discovery, and… – amg-news.com – American Media Group

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Global Financial Crisis:

Sat. 17 Aug. 2024 Yesterday, 53 years ago, the United States temporarily suspended the dollar’s convertibility to gold. The world is still waiting. Today, we witnessed history. Interesting coincidence.https://x.com/goldtelegraph_/status/1824637729361006968?s=46

Sat. 17 Aug. 2024 Rite Aid Shuts Down All Stores in Two States, Leaving Tens of Thousands Scrambling for Essential Medications. Rite Aid has announced the closure of all its stores in Michigan and Ohio, following a staggering total of over 856 store closures since filing for Chapter 11 bankruptcy in October 2023. https://www.thegatewaypundit.com/2024/08/rite-aid-shuts-down-all-stores-two-states/

Sat. 17 Aug. 2024: Iranian banks hit by MAJOR CYBERATTACK after Supreme Leader Ayatollah Ali Khamenei promised retaliatory attack against Israel https://www.newstarget.com/2024-08-16-iranian-banks-hit-by-major-cyberattack.html

Read full post here: https://dinarchronicles.com/2024/08/19/restored-republic-via-a-gcr-update-as-of-august-19-2024/

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Courtesy of Dinar Guru: https://www.dinarguru.com/

Mnt Goat Article quote: “that the government is demanding guarantees for non – substituent currency back to the markets”. This means the reinstatement back to the FOREX trading markets. The CBI wants guarantees that once they begin the process of the Project to Delete the Zeros, it will go all the way to the reinstatement. So is this not what my CBI contact also told us?

Militia Man

WARNING: Banks Are Preparing for an Imminent Banking Crisis as Property Foreclosures Soar

Lena Petrova: 8-18-2024

https://www.youtube.com/watch?v=K5L_8P9AQJA

ANOTHER Recession Indicator Has Been TRIGGERED!

Lynette Zang: 8-17-2024

In today's video we are talking about the SAHM rule being triggered due to the recent rise in unemployment and what that means for you and your money...

https://www.youtube.com/watch?v=APZ5QkP4uPc

Iraq Dinar News - IQD Update -Central Bank of Iraq - WTO - Remove Zeros? - PetroDinar - 1st mention

MilitiaMan and Crew: 8-18-2024

https://www.youtube.com/watch?v=VjS_n6sh4Pg

I Just Received A $10M Inheritance What Should I Do?

Christy Bieber Sun, August 18, 2024 Moneywise

I'm 31, single and just received a $10M inheritance from a parent I didn't know I had — what should I do?

A caller to "The Ramsey Show" experienced a shocking twist when his mom showed up on his doorstep to tell him the two of them had just inherited a fortune — but the news also delivered a major curveball.

"A family friend who she’s known for a long time passed away," the caller told co-hosts George Kamel and John Delony. "This individual left my mother and myself in his will, and according to the lawyer who's handling the estate, it’s worth between $10 million and $14 million."

That sounds like a good thing, but there was more to come. As the caller explained: "In the will, he’s designated me as his son. I’ve never met this man, never met him before in my life."

Talk about a life-changing moment. Not only does the caller have some emotional issues to deal with, he also has to figure out what to do with his share of sudden wealth.

Understanding The Details

Receiving a multimillion-dollar inheritance can be overwhelming to anyone, especially when it's unexpected. The first key thing to do is to understand the details of what this means for your finances.

In this particular situation, the caller explained he wouldn't just be handed the money.

"We won’t necessarily be able to collect the liquid cash," he said. Instead, the money is being kept in a trust and will be doled out over time. "Me and my mom are splitting the dividends, the interest, and whatever income that trust brings in.”

The caller says the trustee, who was the deceased man's lawyer, estimates the average income would be $500,000 a year.

Obviously, this is a complicated way of receiving an inheritance, so the first thing The Ramsey Show co-hosts recommended was talking to a lawyer.

https://www.yahoo.com/finance/news/im-31-single-just-received-113500654.html

Good Morning Dinar Recaps,

U.S. Government’s Crypto Holdings: Everything You Must Know

Arkham Intelligence shows that a wallet tied to the U.S. government is sitting on a hefty stash of cryptocurrency. A massive fortune can heavily influence the markets, and we have previously seen how the German Government’s Bitcoin sell-off affected the markets. Amid the political drama and crypto confusion, let’s find out how much the U.S. Government holds.

When we say hefty, think 203,200 BTC, which clocks in at roughly $12 billion, along with 50,200 ETH, worth around $130 million. On top of that, the address holds 750.7 wBTC, valued at about $44.41 million, plus a variety of other tokens. Altogether, the total value of the assets is estimated to be around $12.4 billion.

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Jackson Hole Economic Policy SymposiumThe 2024 Economic Policy Symposium. "Reassessing the Effectiveness and Transmission of Monetary Policy," will be held Aug. 22-24.

@ Newshounds News™

Source:https://telegra.ph/Jackson-Hole-Addressing-policy-challenges-and-marking-milestones-08-19

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Crypto Market Jitters Amid Political Drama

This discovery comes at a rather tense time, with the U.S. political landscape adding more fuel to the already unpredictable crypto market. Vice President Kamala Harris has thrown her support behind the digital currencies, echoing the vision of the Democratic President-Elect.

But here’s the kicker: the current administration doesn’t seem to be on the same page. The government’s recent $2 billion crypto sell-off has stirred the pot, contradicting the pro-crypto stance many expected.

@ Newshounds News™

Source:

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Source:CoinTelegraph

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"The Great Gold & Silver Rush of the 21st Century Is Here" | Mike Maloney LIVE | Rebel Capitalist 1

8-15-2024

Join us for an eye-opening live presentation with Mike Maloney, founder of GoldSilver.com and author of "Guide to Investing in Gold and Silver" and “The Great Gold & Silver Rush of the 21st Century”.

In this thought-provoking discussion, Mike delves into the fundamental distinction between money and currency. Discover the historical significance of gold as money and witness how the U.S. dollar has drastically lost its value over time.

Learn about Mike's journey into precious metals investment and how Robert Kiyosaki played a pivotal role in his career.

Explore the essential attributes of true money, including being a store of value, unit of account, and medium of exchange. Find out why gold has stood the test of time as a reliable store of value, while fiat currencies like the U.S. dollar continue to erode in value.

https://www.youtube.com/watch?v=vPsmkMmraAs

From Recaps Archives

The "Hidden Secrets of Money" series by Mike Maloney

Money vs Currency - Hidden Secrets Of Money Episode 1 - Mike Maloney

https://youtu.be/DyV0OfU3-FU?t=1

Seven Stages Of Empire - Hidden Secrets Of Money Episode 2 - Mike Maloney

https://youtu.be/EdSq5H7awi8?t=1

This Timeline Shows The Death Of The US Dollar As World Reserve - Hidden Secrets Of Money Episode 3

https://youtu.be/y-IemeM-Ado?t=1

The Federal Reserve: Biggest Scam In The History Of Mankind - Hidden Secrets of Money Ep 4

https://youtu.be/iFDe5kUUyT0?t=1

Where Does Money Come From? - Hidden Secrets Of Money Ep 5 - Mike Maloney

https://youtu.be/OQWMd_NPSBA?t=1

Top 4 Reasons For Deflation BEFORE Hyperinflation - Hidden Secrets Of Money Episode 6 (Mike Maloney)

https://youtu.be/8GP87dgTqF8?t=1

The Money Illusion - Hidden Secrets Of Money Episode 7 - Mike Maloney

https://youtu.be/P4_1pwsm5LY?t=1

From Bitcoin To Hedera Hashgraph (Documentary) Hidden Secrets Of Money Episode 8

https://youtu.be/SF362xxcfdk?t=1

Fall Of Empires: Rome vs USA (Hidden Secrets Of Money Ep 9)

https://youtu.be/OuOcnGAv4oo?t=1

American Bread & Circus (Hidden Secrets Of Money Ep 10) https://youtu.be/fiCKf7hfa*gk?t=1

Good Afternoon Dinar Recaps,

Colorado Church group tokenizes $2.5M chapel

This may be the first tokenized church in the world.YEP

A network of affiliated church groups called the “Colorado House of Prayer” has tokenized its main chapel in an effort to purchase the $2.5 million building.

The pastor heading the project, Blake Bush, says he was compelled by a higher power to use blockchain technology as a tool for advancing the group’s mission.

Tokenize the building

According to a report from Forbes, Bush’s congregation and other church groups had beenrentingthe building from its owner, a local businessperson who also owns a car dealership.

The 11,457-square-foot building, called “Old Stone Church” due to its stone exterior, was purchased by its current owner in 2022 at a cost of $2.2 million. Reportedly, Bush and the Colorado House of Prayer group intend to purchase the building for $2.5 million

Bush says he came up with the idea of tokenizing the building — putting it on the blockchain as a digital asset that can be split into shares — after a spiritual experience.

“I heard the Lord say, ‘tokenize the building,'" Bush told Forbes, later adding that he had been “praying for this for years” and that God had told him to “go get my house.”

Blockchain and real estate

In order to accomplish his holy mission, Bush and the group created “Stone Coin,” a digital asset used to raise money for the purchase of Old Stone Church. The coin is tied to a real estate token created by REtokens and running on the Polymesh private blockchain.

Like any tokenization project, the results will depend on the amount of positive token-flow and reactive value. The project is reportedly seeking investors after having raised about half of its goal.

In the future the token’s board, which includes Bush and other religious leaders as well as the mayor of a nearby town, plans to open up token sales to non-parishioners. While this could potentially put the digital asset ownership at risk of an outsider takeover, Bush doesn’t appear to be too concerned about that.

When presented with the notion that, for example, Satanists could end up making a run on the church’s tokens, Bush quipped that he’d be grateful, “let’s introduce you to Jesus.”

@ Newshounds News™

Source:

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Crypto enthusiast Edward Farina highlighted the map in a post on the social media platform X. The map describes how coins like XRP can serve as a global reserve asset, with gold as an essential anchor.

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Economist Identifies Weaknesses In Banking System: 80% Of Money Supply In Citizens’ Homes

Economy |Baghdad Today – Baghdad Financial and economic expert Alaa Jaloub Al-Fahd revealed today, Sunday (August 18, 2024), a weakness in the Iraqi banking system, while confirming the presence of 80% of the cash mass in citizens’ homes.

Al-Fahd told Baghdad Today, "The amount of cash liquidity pumped into the local market is estimated at the size of annual government spending, and this includes salaries, wages, and others. It constitutes a large percentage and is considered the citizen's purchasing power."

He added that "the rise in income levels after 2003, due to the increase in salaries, led to an increase in purchasing power, and this led to an increase in the level of demand for real estate and other things," indicating that "the rise in real estate prices has nothing to do with the issue of the increase in the citizen's cash liquidity or not, because this increase is dependent on the issue of supply and demand."

Al-Fahd explained that "any increase or decrease in the volume of liquidity is estimated by the volume of real spending and the volume of savings, considering that the citizen's income is divided between consumption and savings, and the higher the savings rate, the more it is supposed to be exploited economically through investment."

He pointed out that "there is a weakness in the banking system's ability to absorb all the cash available to citizens, as most of this cash is inside homes, far from banks," noting that "the amount of cash available to citizens in homes is estimated at more than 80% of the issued cash mass, and this constitutes a weakness in the banking system, in withdrawing that mass and investing it."

It is noteworthy that financial expert Saleh Al-Masrafi confirmed on Tuesday (August 6, 2024) that Iraq is among the highest countries in the Middle East in the file of hoarding money, while he diagnosed a grave error in the Iraqi banking system .

The banker said in an interview with Baghdad Today, "The accumulations that have continued for many years have pushed citizens to lose confidence in banks and resort to hoarding money in their homes," indicating that "its percentage reaches 70% of financial liquidity, and these are large numbers that indicate that we are among the highest countries in the Middle East in hoarding money ."

He added that "hoarding money in the financial concept is a grave mistake that will confuse the financial process and reduce the government's ability to provide liquidity to pay salaries," explaining that "resorting to electronic payment is a step in the right direction, but the most important thing is withdrawing liquidity, and there are several ways ."

The banker pointed out that "the recent issuance of treasury bonds is a correct decision, but the media propaganda to create a culture of safe investment in the street is very weak, and this is what creates low rates of dealing with them, even though the interest rates are attractive ."

He stressed the "necessity of seeking to expand the circle of withdrawing liquidity from homes and creating a movement of money that contributes to increasing the recovery of investment and granting government loans, especially with the presence of requests that exceed by 5 times the amount of money allocated for loans in any sector, especially housing." LINK

Is It Time To Remove The Zeros?

Economic 2024/08/18 There is an economic principle in the free market economy, capitalism, or whatever you call it, to treat the defect or distortion in the economic structure as a result of the shock.

That is, accepting the financial, economic and social effects of this measure in the hope of improving the economic reality.

In order to clarify this principle and analyze its effects as a means of spreading economic culture, we will address the issue of deleting zeros from the currency in order to reduce its effects on the size of the monetary mass and the value of money.

The more difficult and complex the solutions to reduce the dollar exchange rate between the official and parallel rates become, the more calls for the necessity of deleting zeros increase, believing that it is one of the solutions.

Here, if the decision is made to remove zeros, this means treating the defect with the shock effect, but we must first present the most prominent advantages and disadvantages of removing zeros and compare them to reach an optimal solution and a sound decision.

This is the best way to spread the culture of discrimination among the public, rather than addressing specialists because they are aware of the optimal solution.

One of the most prominent advantages of removing zeros is reducing the size of the monetary mass, not its value (simply the number of banknotes used in circulation).

This advantage results in the ease of carrying cash amounts and protecting them from theft or damage.

As for the disadvantages, deleting zeros will create countless social problems that we can do without at this stage due to the inability to convince the public to accept the decrease in the size of the monetary mass while acknowledging that the real value of the money is not affected.

The issue is related to the mind and the memory’s preservation of large amounts, and then the solution of commercial and personal contracts and agreements creates disagreements and an inability to reach an understanding.

From the above analysis, it is clear that the procedure of deleting zeros is not appropriate at the present time. However, with the use of electronic payment operations, the environment will be mature and acceptable for the idea of ​​implementing the decision to delete zeros, and the process will be automatic without the citizen feeling it. But is it time to issue the decision?

We see that it is too early due to the recent introduction of electronic payment technology in commercial, market, official and private transactions.

The experience is still limited to absorbing such a transformation, and when the percentage of acceptance and use of electronic payment tools reaches 90 percent of citizens, then the decision to delete zeros can be implemented easily and smoothly. It takes time to spread the culture of electronic payment, and it is required to intensify media and advertising campaigns to focus it in the citizen's memory and accept it.

In such a case, the concerned authorities should reduce the costs of using electronic payment and impose strict control over fraud and manipulation, and then expand and diversify electronic payment companies throughout the country.

Those concerned should start with state institutions in using electronic payment for all transactions, and then the culture of electronic payment will expand. https://alsabaah.iq/101197-.html

Government Advisor Explains The Possibility Of Using The Dinar Instead Of The Dollar In Oil Sales

Money and business Economy News – Baghdad The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, clarified today, Sunday, what is being circulated in some media outlets regarding the possibility of using the dinar instead of the dollar in oil sales.

Saleh said in an interview with the Iraqi News Agency, followed by "Al-Eqtisad News", that "the adoption of the dinar in the pricing of oil, or what is called (petro dinar), especially when the national currency is not one of the international reserve currencies, requires the availability of foreign reserve currencies or gold, as Russia did when it bought Russian oil with gold-backed rubles, which caused problems that we will come to later."

He added that "these foreign reserves must be available (as a necessary condition) and operate according to a high standard of efficiency that guarantees the stability of the exchange rate linked to oil (the petro dinar) in order to hedge against oil price fluctuations to ensure the stability of the exchange rate (the petro dinar) itself from the beginning."

He added that “linking oil sales to the dinar on a fixed basis with oil prices instead of the foreign reserves base means linking the dinar to the oil asset cycle first, and that oil is sold according to global oil prices. If the exchange rate of the dinar (petrodinar) against the (petrodollar) is fixed, for example, and oil prices fall, then the demand for the dinar for accounting purposes will certainly fall, and the dinar will be exchanged for oil in larger quantities and the demand for the (petrodinar) will be lower, and vice versa.”

He pointed out that "any deviation between oil prices (petrodollar) and the exchange rate (petrodinar) according to international market data will be considered a cost that requires compensation by paying fewer dinars or collecting a higher dinar in the opposite case," indicating that "international reserve currencies are foreign currencies held by central banks and global financial institutions as part of their cash reserves.

These currencies are used in international transactions and settling debts between countries, and are a standard for international payments and facilitating global trade."

He explained that "Russia suffered a lot when it priced its exported oil in rubles (petrorubles) and the ruble is a non-reserve currency and committed to a value for the ruble that was initially denominated in gold to ensure the stability of oil revenues. Here (petrorubles) were subject to two asset cycles at the same time (which complicated the scene of selling oil in local currency and stabilizing the value of the petrorubles)."

He pointed out that "the first cycle: is the result of the impact of what is called the gold assets cycle and its impact on the value of the (petroruble) or the local currency denominated in exported oil, while the second: is the oil assets cycle, and its impact on the value of a barrel of oil outside the global price and the reflection of that on oil revenues priced in that currency."

He stressed that "the two cycles are asset cycles that are linked and contradictory at the same time on the value of (the currency priced in the exported oil, such as the petroruble), which made pricing Russian oil in rubles as a local currency and according to the data of the global oil market a very complex issue."

He added that "the principle of using the dinar as a local currency in international oil exchanges (petrodinar) is not without many challenges, which is why those potential challenges must be carefully considered, especially the issue of the flexibility or stability of the value of the (petrodinar) itself to change and fluctuation, especially since we in the oil market are not price makers in it, but rather price takers."

He noted that "the global oil market will control the fluctuation of the local currency (petrodinar), in addition to the importance of international recognition of it, and the financial infrastructure necessary to support such operations of (petrodinar), in other words, the strategy of relying the value of the currency directly on oil exports may make the value of the local currency vulnerable to fluctuations in the global market."

Saleh added that “the proposal to sell oil in dinars as a local currency must take into account an important theory in global trade called the Law of One Price, which is an economic concept that assumes that the same commodity must be sold at the same prices in all markets when the price is expressed in the same currency, provided that there are no transportation costs or trade barriers such as customs tariffs and others.

The Law of One Price is the basis for many economic and trade models, and the theory is based on the assumption that markets operate efficiently.”

He added: “The single price theory is the basic path to understanding the pricing mechanism in foreign exchange markets, as the theory seeks to explain that currency exchange rates always reflect the difference in prices between two countries, and when oil is priced in dollars (petrodollars), the exchange rate of the dinar (petrodinar) should be consistent with oil prices without fluctuation and at the same time consistent with the (petrodollars) and also steadily,

and these are two issues that are difficult to control because they are external international factors that determine the value of the local currency so that it operates regularly and in a stable price compatibility with the oil market and international foreign currencies at the same time.”

“For example, if a barrel of oil is sold in the United States at $76 and in Europe at 72 euros, the single price theory predicts that, taking into account the exchange rate between the dollar and the euro, the price of a barrel of oil should be equal after adjusting the currency, provided that there are no transportation costs or trade barriers.

This requires that the value of oil sold to Europe and America be consistent with the fluctuations in currency prices in order to ensure that the single price theory is in place.

Thus, adopting the local currency in global trade is a very complex issue to ensure the stability of oil prices consistent with the value of the Iraqi dinar (petrodinar), especially in a fixed exchange rate system (exchange rate), unless discounts are granted or differences are charged in oil marketing operations or floating (petrodinar).

Then, for example, the Oil Marketing Company (SOMO) will play a dual role in oil and monetary policies, whether in the field of oil pricing or pricing the oil dinar exchange rate (petrodinar),” he continued.

He added: "The strength and stability of the Iraqi dinar will remain linked to the factors of real growth and diversity in the national economy, in addition to achieving an appropriate surplus in the current account of the balance of payments, and linking the national currency to a basket of foreign currencies that provides stability in the value of the dinar itself.

In light of the above, introducing mechanisms for stabilizing the dinar exchange rate into a single rentier economy exclusively based on the oil dinar is an economic trend with ambiguous results and is very vague, in addition to entering the (petrodinar) system, which requires risks (the aforementioned single price theory) to ensure its stability in light of the fluctuations in the oil assets cycle and a single rentier economy, not to mention not knowing the adopted exchange system (petrodinar).

Will it be a fixed exchange system supported by foreign reserves or will it be a flexible exchange system in which the (petrodinar) changes with the change in oil prices? These are paths that have no answers on the ground and are really very ambiguous." Views 56 2024/08/18 - https://economy-news.net/content.php?id=46433

KTFA

Clare: Baghdad hosts regional technology summit

8/18/2024Baghdad

Baghdad witnessed the launch of the Huawei Middle East and Central Asia Business Tour, which brought together more than 200 of its partners and customers from various industries to explore new avenues for growth and win the future of digital transformation in Iraq. The event highlights the importance of developing a stronger partnership ecosystem in Iraq and stimulates in-depth discussion on how comprehensive ICT solutions can enable key sectors including education, healthcare, government, real estate, and finance.

In his opening remarks, Mr. Alex Zhang, Vice President of Enterprise Business at Huawei Middle East and Central Asia, emphasized the importance of digital transformation for Iraq, saying: “Digital transformation is not just a strategic imperative for Iraq, but a path to sustainable growth.

By leveraging advanced technologies and building strong partnerships, we can overcome challenges and open up unprecedented horizons for progress in the fields of government, education, healthcare, real estate, and financial services. Huawei is committed to investing in Iraq’s ICT infrastructure and strengthening the partnership ecosystem to drive this transformation.”

Rafid Abbas Kheder, Member of the Sub-Board of Directors of the Commercial Environment, also delivered the keynote speech titled “In Iraq for Iraq”, where he emphasized: “Huawei has been operating in the Iraqi market for more than 20 years and is dedicated to becoming a major contributor to the national digital economy. With an open mindset and continuous collaboration strategy, Huawei will work hand in hand with all partners and customers to achieve shared growth and success and start a new chapter in a thriving digital economy in Iraq.”

Huawei experts presented a comprehensive range of sector-specific solutions, each designed to empower key sectors in Iraq:

- *Education: Building a dynamic learning environment through robust network infrastructure, secure data centers, and smart classroom solutions.

- *Healthcare: Improving patient care and operational efficiency through smart wards, advanced medical imaging technology, and reliable hospital network solutions.

- *Finance: Securing sensitive financial data through robust networks and advanced storage solutions, allowing financial institutions to operate efficiently and drive economic stability.

- *Government: Enhance government services and decision making through smart office systems, advanced campus networks, and lightweight data centers to improve operations.

- *Real Estate: Leveraging Huawei's smart property management technology, creating a sustainable and efficient environment that optimizes energy consumption and enhances tenant experiences.

In the evening session, Jason Yang, Huawei’s Business Director for the Middle East and Central Asia, emphasized Iraq’s potential for digital growth, saying: “We see tremendous potential in the digitization of government and businesses in Iraq. Huawei’s commitment to strategic investment, strong partnerships, and partner-driven leadership approach puts the company at the forefront of driving this digital transformation.”

The event also introduced HUAWEI eKit, a platform designed for SMEs. This platform combines multiple functions including marketing, transactions, services, and partner operations, and offers a range of products that include networking products and collaboration tools specifically designed to meet the needs of SMEs.

Huawei’s trade show is a milestone in the digital transformation journey to provide an open and collaborative platform for the Iraqi market. The event was well received by attendees and reinforced Huawei’s role as a strategic partner in the region through its solutions. LINK

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Clare: Al-Sudani: The government pays great attention to the electricity file

8/18/2024Baghdad

Prime Minister Mohammed Shia Al-Sudani confirmed today, Sunday, that the government pays great attention to the electricity file.

The Prime Minister's Media Office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani chaired a meeting of the electricity team concerned with the electrical energy file, in the presence of the Minister of Electricity."

The meeting witnessed "discussing the development of a new technical and economic vision to address the problem of the shortage in the provision of electrical energy in the short and long term, and developing rapid solutions that would contribute to providing electricity to citizens and other vital sectors," according to the statement.

The meeting also discussed "the mechanism adopted to provide fuel, and the financing mechanism in the new economic model for electricity production projects, which the government has planned as part of its new vision in this important sector."

During the meeting, the Prime Minister stressed that "the government pays great attention to the electric power file, as it is one of the foundations on which economic plans and infrastructure projects in all sectors depend, and to create a development renaissance in the country." LINK

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Courtesy of Dinar Guru: https://www.dinarguru.com/

This is what we investors looking for iqd # dinar

Nader: 8-18-2024

https://www.youtube.com/watch?v=NMLAv3JOC3I

Three Currencies to Watch and Why IQD TRY ARS

Edu Matrix: 8-18-2024

Three Currencies to Watch and Why IQD TRY ARS - Rates These countries are on the path to a high GDP which could easily result in a higher currency rate.

https://www.youtube.com/watch?v=fN2uFrxqQIo

TNT:

Tishwash: Is it time to remove the zeros?

Yasser Al-Mutawali

There is an economic principle in the free market economy, capitalism, or whatever you call it, to treat the defect or distortion in the economic structure as a result of the shock.

That is, accepting the financial, economic and social effects of this measure in the hope of improving the economic reality.

In order to clarify this principle and analyze its effects as a means of spreading economic culture, we will address the issue of deleting zeros from the currency in order to reduce its effects on the size of the monetary mass and the value of money. The more difficult and complex the solutions to reduce the dollar exchange rate between the official and parallel rates become, the more calls for the necessity of deleting zeros increase, believing that it is one of the solutions.

Here, if the decision is made to remove zeros, this means treating the defect with the shock effect, but we must first present the most prominent advantages and disadvantages of removing zeros and compare them to reach an optimal solution and a sound decision.

This is the best way to spread the culture of discrimination among the public, rather than addressing specialists because they are aware of the optimal solution. One of the most prominent advantages of removing zeros is reducing the size of the monetary mass, not its value (simply the number of banknotes used in circulation). This advantage results in the ease of carrying cash amounts and protecting them from theft or damage.

As for the disadvantages, deleting zeros will create countless social problems that we can do without at this stage due to the inability to convince the public to accept the decrease in the size of the monetary mass while acknowledging that the real value of the money is not affected. The issue is related to the mind and the memory’s preservation of large amounts, and then the solution of commercial and personal contracts and agreements creates disagreements and an inability to reach an understanding.

From the above analysis, it is clear that the procedure of deleting zeros is not appropriate at the present time. However, with the use of electronic payment operations, the environment will be mature and acceptable for the idea of ​​implementing the decision to delete zeros, and the process will be automatic without the citizen feeling it. But is it time to issue the decision? We see that it is too early due to the recent introduction of electronic payment technology in commercial, market, official and private transactions. The experience is still limited to absorbing such a transformation, and when the percentage of acceptance and use of electronic payment tools reaches 90 percent of citizens, then the decision to delete zeros can be implemented easily and smoothly. It takes time to spread the culture of electronic payment, and it is required to intensify media and advertising campaigns to focus it in the citizen's memory and accept it. In such a case, the concerned authorities should reduce the costs of using electronic payment and impose strict control over fraud and manipulation, and then expand and diversify electronic payment companies throughout the country.

Those concerned should start with state institutions in using electronic payment for all transactions, and then the culture of electronic payment will expand. link

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Tishwash: The environment is fertile for investment and solid global companies.. Parliament is "optimistic" about the government and is monitoring

Today, Sunday (August 18, 2024), the Parliamentary Investment Committee described the investment companies operating in Iraq as “solid and international,” stressing thatParliament monitors their work.

Committee member Mohammed Al-Ziyadi told Baghdad Today, "All investment companies operating in Iraq are solid and international, and have many businesses in different countries. Any company operating in Iraq works according to specifications, and its file is audited and all its previous businesses in different countries are reviewed," stressing "the need for Parliament to monitor the work of these companies."

He added, "Iraq is not obligated to introduce any unsound foreign company, especially since Iraq has an important and fertile investment environment and all international companies have a real desire to work within it, especially in light of the security and political stability after the formation of the current government."

Since the first day that Mohammed Shia al-Sudani assumed power in the country, he stressed his keenness to attract solid international companies to implement road, bridge and infrastructure projects in Iraq.

Here, the Parliamentary Transport Committee confirms the success of the Iraqi government in developing external roads and paying attention to this file.

The head of the committee, Zahra Al-Bajari, told Baghdad Today, Saturday (August 10, 2024), that “the government has succeeded in developing many external roads between the governorates, and there is a clear and tangible improvement in those roads, through paving and tiling,” noting that “certainly this matter has contributed greatly to reducing traffic accidents, which used to occur on a daily basis due to the deterioration of those roads,” and she added: “We still need more attention to this file.”

Prime Minister Mohammed Shia al-Sudani has repeatedly stressed that his government is moving forward to fulfill its promises to implement service projects in Baghdad and the governorates. On May 27, 2024, the prime minister said, at the Rustumiyah, Al-Muhandisin and Al-Shaljiya bridges, as part of the first package of projects to ease traffic congestion in the capital, Baghdad, that his government is moving forward to fulfill its promises to the people and implement service projects in Baghdad and the governorates, indicating that "there are 4 projects at the level of bridges and overpasses in Anbar, Diwaniyah, Dhi Qar and Maysan, which will be opened within the next three months." link

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Tishwash: Has the spark ignited in the Iraqi dinar and the near-total collapse?

Economic expert Mustafa Hantoush said today, Saturday, that the current thinking about changing monetary policies for the next stage is incorrect, regardless of the people who will be nominated for the position of governor.

Hantoush told the “Iraq Observer” agency, “Iraq is currently going through a phase of almost complete collapse in monetary policies, which are: “the policy of preserving the national banking system - the policy of international monetary relations - the policy of protecting the local currency against foreign currencies.”

dollar mill

The economic expert continued: “In addition to the policy of activating banking operations and supporting the Iraqi market - the financing policy supporting the Iraqi industrial, agricultural, tourism and other sectors - the policy of the technical legal banking opinion supporting the movement of markets flexibly - the policy of activating the tools of the money market in the stock market - the policy of supporting electronic transactions.” Therefore, the next stage must be to rescue monetary policies through national monetary and banking plans.

Economic data

Globally, the dollar approached its highest level in two weeks against the yen after its largest one-day gains against its major counterparts in four weeks, as strong US economic data eliminated fears of recession.

New procedures

The dollar was particularly strong against the Japanese currency thanks to higher Treasury yields as traders scaled back bets that the Federal Reserve will be forced to take aggressive easing measures next month.

Risk-sensitive currencies such as the pound were strong as an improving economic outlook lifted stocks.

The dollar index, which measures the greenback against six major currencies including the yen, the pound and the euro, was little changed at 103.20 after rising 0.41% overnight, its biggest gain since July 18.

The dollar fell slightly to 149.11 yen, but remained close to yesterday's high of 149.40, a level last seen on Aug. 2.

The Commerce Department said retail sales rose 1.0% last month, beating expectations for a 0.3% gain. Separate figures showed 227,000 Americans filed for unemployment benefits last week, fewer than the 235,000 expected.

Traders are convinced that the Federal Reserve will cut interest rates on September 18, but the size of the cut is being discussed, according to a statement.

The odds are currently at 25% for a large 50 basis point cut, down from 36% the day before, according to CME Group's FedWatch tool.

Low salaries

Surprisingly weak monthly payrolls data at the start of the month has raised the odds of a larger cut to 71%.

Sterling was slightly higher at $1.2859, building on a 0.21% advance overnight. The British currency got additional support from strong GDP figures on Tuesday.

The euro was steady at $1.0973 after falling 0.36 percent in the previous session.

The risk-sensitive Australian dollar was steady at $0.66105 after advancing 0.2 percent the previous day after data showed a much larger-than-expected increase in jobs. link

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Tishwash: Controlling 80% of currency smuggling in Iraq.. 6 qualitative strikes "paid off" and efforts continue

The Parliamentary Security and Defense Committee revealed, today, Sunday (August 18, 2024), the secrets of 6 qualitative strikes against what it called hard currency smuggling mafias in Iraq.

Committee member MP Yasser Iskandar Watout said in an interview with Baghdad Today, "Smuggling hard currency in all its forms is a drain on the country's economic capabilities and leads to pressure on the markets by raising exchange rates, which leads to an increase in prices."

"There are efforts being made, some of which are exceptional, through the reports we receive that reflect the continuation of implementing a series of strategies to reduce the smuggling of hard currency, which has been controlled by up to 80% in recent months through the efforts of the Ministry of Interior and its formations with the Central Bank, which has achieved positive results in this regard," added Watout.

He pointed out that "6 operations took place in the past months, representing qualitative strikes against the hard currency smuggling mafias in Iraq, which bore fruit, explaining, "But has smuggling ended completely? The answer is no, and efforts are continuing to end these illegal acts, which are taking place with complications that require intensive and doubled work by the competent authorities."

Financial and economic expert Nawar Al-Saadi revealed on Friday (August 16, 2024) the importance of the benefits of “digitizing” financial transactions for Iraqi banks, while pointing out that digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services.

Al-Saadi told Baghdad Today that “digitizing financial transactions in Iraqi banks can provide significant benefits, especially in terms of reducing currency smuggling,” indicating that “by adopting digital systems, banks can track all financial transfers with greater accuracy and transparency. This means that each transaction is automatically recorded and saved in a central database that can be reviewed at any time. This allows the relevant authorities to monitor and quickly detect suspicious financial activities, making it difficult for smugglers to exploit the financial system to smuggle currencies.”

“Digitizing the banking system contributes to reducing money laundering cases, as these operations usually depend on exploiting loopholes in traditional systems, but with an advanced digital system, these operations become more complex. Digitization also allows the use of advanced technologies such as artificial intelligence to analyze patterns in banking data and identify any abnormal or suspicious transactions,” he added, stressing that “this helps prevent money laundering by early identification of unusual activities and reporting them to the competent authorities.”

Al-Saadi explained that “to implement this digital transformation in Iraq, there is a need for investments in technological infrastructure and developing the institutional capabilities of banks,” noting that “this requires providing modern technology, training employees to use it effectively, in addition to developing legislation and laws that protect users and encourage digital transactions. It is also important to enhance customer awareness of the benefits of digital transactions and build their confidence in the new systems.”

He stressed that “digitization in banks contributes to achieving more transparency and credibility in the financial system, as each transaction can be easily tracked and reviewed. It also improves the operational efficiency of banks by completing transactions faster and at a lower cost. In terms of security, digitization provides higher levels of protection against fraud and theft through advanced encryption technologies.”

The financial and economic expert concluded by saying, “Digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services. Digitizing financial transactions in Iraqi banks also has great potential to enhance economic stability and reduce the risks associated with money laundering and currency smuggling, leading to a safer and more efficient financial system link