Dinar Recaps Blog Page — Dinar Recaps (2024)

Economist: Kurdish Merchants Entering The Dollar Selling Platform Contributed To Lowering The Exchange Rate - Urgent

Economy ​ 08-31-2024, |Baghdad today – Baghdad An economist and academic at Cihan University, Nawar Al-Saadi, said today, Saturday (August 31, 2024), that Kurdish merchants benefited from the Iraqi government’s official dollar selling platform and contributed to lowering the exchange rate.

Al-Saadi told "Baghdad Today", "There is entry for merchants from the Kurdistan region to the official dollar selling platform, and these merchants benefited from obtaining the dollar at the official exchange rate, instead of buying from parallel markets that witness higher prices," indicating that "this influx The dollar supply to the market contributed significantly to the increase in supply, which led to a reduction in the price.”

He added, "The matter is not limited to this factor alone, as the Iraqi markets suffer from frequent fluctuations as a result of economic and political instability, and

speculators exploit any change in the market to achieve quick gains, which increases the chaos in the exchange market," noting that

"rumors about possible changes in The exchange rate prompted many to sell the dollar at low prices for fear of future declines, which increased pressure on the dollar price.” Al-Saadi stated that

“there are ongoing discussions between the Central Bank of Iraq and the US Federal Reserve, which could have a significant impact on the exchange rate,” stressing that

“the results of these meetings will be decisive in determining the future direction of the price of the dollar in the Iraqi market, if agreements are reached.”

Certainly, we may see significant changes in the exchange rate based on those results.”

It is noteworthy that the specialist in financial affairs, Nabil Jabbar Al-Tamimi, confirmed on Saturday (August 3, 2024) that the

exchange rate of the dollar in the parallel market will remain higher than the official price due to the failure to find solutions by the Central Bank for black transfers. Al-Tamimi told "Baghdad Today",

"The continued rise in the dollar exchange rate in the parallel market is due to the continuation of black transfers to finance some foreign trade by some merchants, without finding any solutions for these merchants by the Central Bank of Iraq."

He stated, "The Central Bank of Iraq is required to find solutions and quick procedures for these merchants, especially small merchants, who have almost daily trade with Iran, Syria, and some other countries prohibited from dealing in dollars." He pointed out that

"these merchants move to the black market for the purpose of financing their trade, and

this is what leads to the exchange rate remaining high in the parallel market with a large difference from the official rate, and this matter is borne by the Central Bank, as it is responsible for this file."

Today, the dollar exchange rates returned to a relative rise, touching 150 thousand dinars on the stock market, maintaining this level since Eid al-Adha, where it rose from 1,450 dinars to around 150 thousand dinars or less, and has stabilized in this range until now. https://baghdadtoday.news/256839-اقتصادي-دخول-التجار-الكرد-لمنصة-بيع-الدولار-ساهم-بخفض-سعر-الصرف-عاجل.html

US Treasury Praises Iraq's Progress In Monitoring Transfers And Selling Dollars

September 1, 2024 Proposal to cancel SWIFT and replace it with relations with the international banking network

Baghdad - Qusay Munther New York - Morsi Abu Touq The US Treasury Department praised the remarkable progress made by the Central Bank of Iraq in strengthening control procedures over foreign transfers and cash sales of the dollar, while considering that these steps contribute to strengthening financial and economic stability in the country.

Auditing Companies

A statement by the bank received by (Al-Zaman) yesterday said that (a high-level negotiating delegation headed by Governor Ali Mohsen Al-Alaq held a series of intensive meetings in New York City, USA, which included discussions with the US Treasury Department and the Federal Reserve Bank,

in addition to meetings with a group of companies, including international auditing companies, who praised the major transformations achieved by the Central Bank, represented by the remarkable progress in the procedures for monitoring foreign transfers and cash sales of the dollar currency),

adding that (this led to improving systems, policies and procedures in accordance with international and local standards, enhancing transparency in covering foreign trade and providing protection for the banking and financial sector from the risks of money laundering, financing terrorism and financial crimes),

and pointed out that (a meeting will be held between bank officials and its international partners by the end of this year regarding the major transformation in ending the work of the electronic platform for foreign transfers and replacing it with direct banking relations between Iraqi banks and the network of international correspondent banks, according to the plan developed by this bank,

and implemented internationally, which will allow the Central Bank and the Federal Reserve Bank to exercise their supervisory roles Away from the executive procedures, this transformation will have important repercussions on the stability, fluidity and transparency of the country’s foreign trade financing operations,” he continued, adding that “this step will contribute to achieving the required stability in exchange rates, which in turn will enhance the efficiency of the financial system in Iraq.

” The statement stressed that “the meetings also addressed mechanisms for expanding the network of international correspondent banks and qualifying Iraqi banks to meet the necessary requirements for opening their accounts with international correspondent banks, with the aim of enabling them to complete their financial transactions, whether through external transfers in US dollars or other foreign currencies.”

A source had previously revealed an unannounced visit by the Central Bank to the United States of America to discuss developments in the Iraqi banking sector.

Banking Sector

The source said in a statement yesterday that (a delegation from the Central Bank, led by Al-Alaq, and a number of general managers, visited the United States of America, since the 26th of last month, to discuss developments in the banking sector and the restrictions on the use of the dollar imposed on a large number of private banks),

and he continued that (the Central Bank delegation discussed canceling the platform at the beginning of next year, and relying on correspondent banks, which will increase the imposition of restrictions on Iraqi private banks, and completely eliminate competition in favor of Jordanian banks that have American correspondent banks),

noting that (the Central Bank is close to signing a contract with Oliver Wyman, the consulting company for the Iraqi Development Road, to conduct a study on reforming the Iraqi banking sector, and in order for it to be approved by the bank as a roadmap for reforming the private banking sector).

The dollar exchange rate rose slightly in the Baghdad and Erbil stock exchanges. Money exchange office owners said yesterday that “dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 149,200 dinars for every hundred dollars.

” They added that “selling prices in exchange offices in the local markets in Baghdad stabilized at a selling price of 150,000 dinars, while the purchase price reached 148,000 dinars for every hundred dollars. As for Erbil, the stock exchange does not trade on official holidays, but the dollar recorded a slight increase there.” LINK

Ministry Of Finance: Iraq Maintains Its Credit Rating And Foreign Exchange Reserves Level

Money and business Economy News – Baghdad The Ministry of Finance confirmed, on Sunday, that Iraq has maintained its credit rating and the level of foreign currency reserves.

The ministry said in a statement, seen by "Al-Eqtisad News", that "in the latest report issued by Standard & Poor's Credit Rating Agency (S&P), Iraq maintains its credit rating at B- / B with a stable outlook, indicating financial and economic stability in Iraq."

It added, "The new rating reflects the ongoing economic and financial reform policy pursued by the Ministry of Finance, in addition to maintaining the level of foreign currency reserves that exceed the external public debt and fulfilling other external financial obligations as a result of the stability of crude oil prices." It continued,

"The agency's report indicated the possibility of improving Iraq's credit rating in the event of an increase in the economic growth rate, diversification of the state's oil and non-oil public financial revenues, an increase in the per capita income share of the national income, and the continuation of financial and economic policy reform measures." https://economy-news.net/content.php?id=47044

Next Week.. An Arab Transparency Meeting In Baghdad

The first 09/01/2024 Cairo: Esraa Khalifa Under the patronage of Prime Minister Muhammad Shiaa Al-Sudani, the Arab Administrative Development Organization - affiliated with the League of Arab States - will hold the second forum for promoting transparency and good governance under the slogan

“Integrity is an essential component in the era of complexity and opportunity,” for the period from 10 to 12 September in the capital, Baghdad.

An elite group of officials and experts from many international and regional organizations concerned with development, anti-corruption and oversight bodies, as well as university professors and researchers interested in the field of anti-corruption, from various Arab countries, participate in the forum. A source in the Arab Administrative Development Organization told Al-Sabah:

“The forum aims to draw a unified road map to

contribute to achieving integrity and transparency,

strengthen the political agenda to combat corruption in the region, and

build paths for cooperation between governments, the media, civil society and the private sector.”

https://alsabaah.iq/101952-.html

For current and reliable Iraqi news please visit:https://www.bondladyscorner.com/

Labor Day, The First Continental Congress Meets In Philadelphia

September 5, 2022 | by NCC Staff

On September 5, 1774, the first Continental Congress in the United States met in Philadelphia to consider its reaction to the British government’s restraints on trade and representative government after the Boston Tea Party.

The group of colonial luminaries didn’t meet in Independence Hall (which, at the time, was called the Pennsylvania State House). Instead, delegates selected by colonial legislatures met next door in Carpenters’ Hall, which had just been constructed. The State House was already occupied by the Pennsylvania provincial assembly.

The delegates gathered on the morning of September 5 at Philadelphia’s City Tavern, near Benjamin Franklin’s home. Franklin had remained in England, and he would deliver a petition from the First Congress to King George III in late 1774. The group then walked over to Carpenters’ Hall to inspect the meeting room.

“They took a view of the room, and of the chamber where is an excellent library… The general cry was, that this was a good room, and the question was put, whether we were satisfied with this room? and it passed in the affirmative,” said John Adams.

In all, 56 delegates from 12 colonies came to Philadelphia for the meeting to address the Coercive or Intolerable Acts. The laws were meant as punishment for the activities of the Boston Tea Party, but they affected all colonies. Neither Franklin nor Thomas Jefferson attended, but in addition to Adams, the delegates included Patrick Henry, Roger Sherman, John Jay, John Dickinson, Richard Henry Lee, George Washington, and John Adams’ cousin, Samuel Adams.

Thomas Jefferson’s cousin, Peyton Randolph, was named as the first president of the Continental Congress. Randolph was another prominent Virginia leader and Washington’s close friend.

To continue reading, please go to the original article here:

https://constitutioncenter.org/blog/the-first-congress-meets-in-philadelphia

10 Fascinating Facts About The Labor Day Holiday

Labor Day has been a national holiday since 1894, when President Grover Cleveland signed the law that Congress passed designating the first Monday in September a holiday for workers. Labor unions pressed and activists sacrificed to gain recognition of both the contributions and the mistreatment of workers at the time.

September 5, 2022 The first Monday in September is celebrated nationally as Labor Day. So how did we get the holiday and why is no one quite sure who created it?

The Labor Day holiday grew out of the late 19th century organized labor movement, and it quickly became a national holiday as the labor movement assumed a prominent role in American society. Here’s how it all started, with the facts, as we know them, supplied by the Labor Department, the Library Of Congress, and other sources.

1. The idea first became public in 1882. In September 1882, the unions of New York City decided to have a parade to celebrate their members being in unions, and to show support for all unions. At least 20,000 people were there, and the workers had to give up a day’s pay to attend. There was also a lot of beer involved in the event.

2. The New York parade inspired other unions. Other regions started having parades, and by 1887, Oregon, Massachusetts, New York, New Jersey, and Colorado made Labor Day a state holiday.

3. How did the Haymarket Affair influence Labor Day? On May 4, 1886, a bomb exploded at a union rally in Chicago’s Haymarket Square, which led to violence that killed seven police officers and four others.

The incident also led to May 1 being celebrated in most nations as Workers Day. The U.S. government chose Labor Day instead to avoid a celebration on May 1 and New York's unions had already picked the first Monday in September for their holiday.

4. Two people with similar names are credited with that first New York City event. Matthew Maguire, a machinist, and Peter McGuire, a carpenter, have been linked to the 1882 parade. The men were from rival unions; in 2011, Linda Stinson, a former U.S. Department of Labor’s historian, said she didn't know which man should be credited - partially because people over the years confused them because of their similar-sounding names.

5. Grover Cleveland helped make Labor Day a national holiday. After violence related to the Pullman railroad strike, President Cleveland and lawmakers in Washington wanted a federal holiday to celebrate labor - and not a holiday celebrated on May 1.

Cleveland signed an act in 1894 establishing the federal holiday; most states had already passed laws establishing a Labor Day holiday by that point. Sen. James Henderson Kyle of South Dakota introduced S. 730 to make Labor Day a federal legal holiday on the first Monday of September. It was approved on June 28, 1894.

To continue reading, please go to the original article here:

https://constitutioncenter.org/blog/10-fascinating-facts-about-the-labor-day-holiday

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:

Sun. 1 Sept. 2024 MarkZ: “I got a update this morning from a redemption center contact. They very much still expect to be called into work this weekend. Their chain of command said to expect to work before Tuesday. This is excellent news.”

Sun. 1 Sept. 2024 Wolverine: Payment for operations start on Wed. 4 Sept. 2024.

We close the week with the following report: the auditors from the World Bank and the Peter Wong Platform who arrived in Brazil on August 27, 2024 are packing their bags to return to the US tomorrow, August 31, 2024.

Since Monday, September 2, 2024 is a holiday in the US (Labor Day), there is no possibility of banking hours at the Reno Platform (Nevada/USA), so what was decided at the meeting within the Central Bank on August 29, 2024 is that the global START will be given on September 3, 2024

After several tests and detailed adjustments, Brazil, the US and 47 other countries and their respective Central Banks will finally be able to proceed in synchrony and simultaneously with the release and settlement of the financial operations of which they are part (I emphasize that in Brazil BR the operations released and approved for payment are LTN and T*A, which were unified within the same platform).

The deadline for distributing the amounts to the spreadsheets of the Managers who will receive them will start on September 4, 2024 and will run until September 13, 2024.

Sat. 31 Aug. 2024 Wolverine: “Looks like everything has been lined up for Tues. 3 Sept. The Precatorias was supposed to go today, but now they are going to go on Tues. 3 Sept. It’s going to be a shotgun start. All contracts have been signed. Everything is ready to go. …Tier 1, 2, 3 and 4 banks around the world are fully integrated and ready for distribution. The RV is finally here. God bless. Your friend, Wolverine”

…Dr. Eduardo Tavares, CEA Professor and Founding Partner of Mundo Financeiro – Specialist in Corporate Finance and Investment Banking from FIA Business School, Fri. 30 Aug. 2024 https://www.eduardotavares.com.br/portolio

…Peter Wong, Former Chief Executive Officer of the Hong Kong and Shanghai Banking Corporation Mr. Peter TS Wong is Vice Chairman and Chief Executive Officer of Asia-Pacific of The Hongkong and Shanghai Banking Corporation Limited (“HSBC”). He is a Group Managing Director and member of the Board of Directors of the HSBC Group. BuyBye Smart Jardim Cambu

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Sun. 1 Sept. 2024: Exposed: Dragon Family Gold and the U.S. Federal Reserve System – Presidents Sukarno, John F. Kennedy, and the Hilton Green Agreement! – amg-news.com – American Media Group

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Global Financial Crisis:

BRICS Bank President Says Ditching the US Dollar is a ‘Main Focus’: https://watcher.guru/news/brics-bank-president-says-ditching-the-us-dollar-is-a-main-focus

Sun. 1 Sept. 2024 Central Banks Doomed: https://beforeitsnews.com/prophecy/2024/09/central-banks-are-doomed-gold-silver-are-about-to-go-parabolic-greg-mannarino-2024-2555080.html

Read full post here: https://dinarchronicles.com/2024/09/02/restored-republic-via-a-gcr-update-as-of-september-2-2024/

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

Fnu Lnu The subsequent [After New York] visit to Washington D.C. was most likely to prove to the UST that the rogue, non-compliant banks in Iraq were brought to heel. I see an RV in the near future and I must say, it's about time.

Militia Man Article: "After the success of the recent negotiations in Washington...the Central Bank succeeded...in diversifying the basket of commercial currencies. Indicating this will lead to a significant decrease in the demand for the dollar...This meeting with...the Central Bank of Iraq...US Federal Reserve and US Treasury, which lasted for 3 days..." Commercial currencies with the Iraqi dinar. They're not going to do that at 1310...When things change everybody's going to be ready to do business with Iraq.

Hard Landing Scenarios – Severe Recession Is Coming, Blame the Banking System

Kitco News: 9-2-2024

George Gammon, an investor, macroeconomics expert, and host of The Rebel Capitalist Show, outlines the potential hard-landing scenarios for the U.S. economy.

Gammon tells Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, that a severe recession is the most likely outcome and shares his insights into when the recession might hit.

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

“We CAN'T Survive” - Japan Steel Giant PANICS Over China, EU EV Market Starts To Collapse

Sean Foo: 9=2=2-24

The G7 China trade war is escalating with the Japan Steel giant asking the government for massive tariffs on imports from China. Meanwhile, Europe's own EV market is collapsing and the tariff war with China is only going to make things worse. Here's what you must know!

Timestamps & Chapters:

0:00 Japan Panics Over Chinese Steel

3:15 Steel Punishments Will Backfire

6:42 Eurozone EV Market Collapsing

7:54 Sponsor: Indigo Precious Metals

9:19 Europe Disastrous Policies

10:58 Massive EV Risk Coming

14:12 Decoupling To Get Worse

https://www.youtube.com/watch?v=8hrekxULink

Good Afternoon Dinar Recaps,

▪️Microsoft has been a primary investor, owning a 49% share of the company thanks to its $13 billion investment in 2019.

▪️Apple partnered with OpenAI in June to use its models to power upcoming AI features.

▪️Nvidia, the dominant chipmaker, provides OpenAI with the infrastructure it needs to train and run its models.

Although OpenAI’s ChatGPT remains the market leader, with hundreds of millions of monthly users, the company has yet to turn a profit from its AI products and services. Moreover, OpenAI must continue spending billions to stay competitive and maintain its market leadership.

Google’s AI image generation tool was previously operational but was pulled in February following incidents where the AI overcompensated for race and ethnicity when generating images of people.

The upgrade, expected inOctober, will include features such as AI-generated summaries of news articles tailored to users’ preferences.

Due to their reliance on voice commands, existing home assistants have struggled to gain traction, often proving awkward to use. These devices tend to add more friction to users’ workflows rather than simplifying them.

This agreement grants the U.S. AI Safety Institute—which was established via President Biden’s executive order on AI—access to major new models from each company before their release.

These collaborations probably give AI companies some breathing room when releasing models that might otherwise face government scrutiny.

Source:CoinGeek

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Tesla CEO Elon Musk indicated the potential return of Dogecoin as a payment option for Tesla products.This statement came just two days after he and Tesla successfully dismissed a June 2022 lawsuit accusing them of defrauding investors through a Dogecoin pump-and-dump scheme.

Tesla previously accepted Dogecoin for products in January 2022, but it is unclear if the company will reimplement this feature.

Source:Coin-Turk

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Iraq...The Drama Of Corruption And Its Danger To Society

Iyad Anbar Corruption scandals in Iraq are very similar to television drama stories, as they both rely on the plot of the novel that makes the viewer follow the events and their developments with passion and wait for their endings.

This is how we in Iraq coexist and interact with news of corruption, its personalities, and its details, and it is never absent from the events of news bulletins and the topics of political talk shows.

In addition, we have come to live with it in every detail of our daily lives, including poor services, deteriorating health conditions, and the routine of daily dealings between citizens and state departments and institutions.

The latest dramatic series of corruption scandals is the return of the “Theft of the Century” case to the forefront, and the story of its return began with August 14 being set as the date for the trial of the main accused in the case, Nour Zuhair, who failed to appear, so the trial was postponed to the 27th of the month..

Nour Zuhair, the hero of the drama story of the theft of tax deposits, which became known as the “theft of the century,” chose to attend a television interview with the Iraqi “Al-Sharqiya” channel, to talk about his “oppression” and his denial of the existence of theft or corruption, and described the issue as a “lie.”

But he did not deny the bribes he offered to politicians, media figures, and state employees, confirming to us that this routine in Iraq is the basis of corruption.

The hero of the series “Theft of the Century” wants to keep the eyes of the Iraqis on monitoring his news, after he circulated news about his being in a traffic accident in Beirut, and we are preoccupied with interpretations of the “accident,” especially with the trial date approaching.

Until it became clear that there was no accident, and that it was fabricated to escape the trial date, according to press follow-ups.

The irony is that we have become so preoccupied with following news of corruption that we have become accustomed to hearing about thefts and corruption deals worth millions and billions of dollars.

We live in a country where millions of citizens live on social welfare benefits, and these terrifying numbers are close to the budget of countries such as Jordan, Syria and Lebanon.

Prime Minister Muhammad Shiaa Al-Sudani was more frank and clear when he stated at the beginning of his assumption of office, saying that

“any talk about fighting corruption is absurd and a joke on the chin” if there is no accountability and recovery of funds from those involved in the “theft of the century” scandal.

It seems that the Prime Minister's statement is the most credible, because so far there has been no resolution of any of the corruption files, and no prosecution of any of those involved.

Despite this statement, Al-Sudani and his government were involved in the “theft of the century” and pledged to recover the money stolen from the state treasury.

While this file was in the hands of the judiciary, the first accused (Nour Zuhair) is behind bars.

Let the Sudanese involve himself in this file to market himself as the one who resolved the most dangerous corruption file in the history of the Iraqi state, and perhaps the largest theft of state funds, and that he was the one who achieved an achievement by settling it.

It later became clear that Nour Zuhair was outside Iraq, without any restrictions on his movement.

He moves between countries and appears in a television interview to describe the theft as “the lie of the century,” that he is a victim of “dirty blackmail,” and that he offered bribes worth millions of dollars. Although he "did not steal state money."

The television interview in which the main accused of the theft of the century appeared, talking about billions of dinars. It is nothing but a scandal for the entire government system.

How could this money be vulnerable to theft or fraud, if corruption did not ravage the entire body of the political system?

This corruption has spread and all actors in the authoritarian system have become involved in it, and are even its founders.

Hence, we no longer need to diagnose and describe corruption by political figures who were directly and indirectly involved in managing the corruption system, and who legitimized the plunder of state resources, which became like a gold mine, with mafias and gangs competing to plunder as much of it as possible.

Corruption in Iraq reflects a struggle to share the rentier economy between political parties and forces of power and influence, and thus it has become spider webs.

It does not stop at the borders of figures in high positions in the state, but rather extends to include political mafias, and figures outside the political description and social classes, who work according to personal relationships with influential government or party figures, or they work at the addresses of “economic offices” affiliated with political parties or armed militias. .

The corruption drama continues, and from time to time there is a new series.

The latest of which is the exchange of accusations between the government and the House of Representatives about the existence of manipulation worth 15 trillion dinars, which is equivalent to 10 billion dollars, in the budget tables for the year 2024.

The government directs an accusation against the Presidency of the House of Representatives that the tables sent by it differ from the copy of the tables sent by the government.

Hence, the Presidency’s approval of the final budget schedules was delayed due to these differences.

The government addresses the Presidency of the House of Representatives and confirms the existence of three different copies of the schedules:

the first is printed on paper, and it has fundamental differences compared to the copy sent by the Council of Ministers.

The second is electronically printed, and has fundamental differences from the Cabinet version and the House of Representatives paper version.

The issue is not the exchange of communications between the government and Parliament, nor delaying the approval of the budget schedules, the financial allocations of which cannot be released except with the approval of the President of the Republic and their publication in the official newspaper, “Al-Waqa’i al-Iraqiyya.”

Rather, it is the nature of the relationship between the legislative and executive institutions in managing the state’s resources, which indicates either the presence of manipulation in financial allocations contrary to the will of the government responsible for preparing the federal budget.

Or there are errors in routine transactions that result in $10 billion, according to statements by members of the House of Representatives.

In both cases, administrative routine is no different from corruption, because both are manifestations of political corruption.

Another series of corruption dramas being circulated on news bulletins and social media, its subject is the existence of a “blackmail network” inside the Prime Minister’s Office, where some figures working in important positions in the government palace were arrested and accused of wiretapping the phones of political and security figures, and impersonating politicians and businessmen. And fake news industry.

Although the judiciary has not resolved these charges, merely acknowledging their existence weakens the government’s credibility in fighting corruption.

In Iraq, there are official institutions with many names and titles, whose function is to combat corruption, such as: the

Integrity Commission, the

Financial Supervision Bureau, the

Integrity Committee in the House of Representatives, and

judicial courts specialized in examining corruption cases.

But corruption in Iraq remains and expands, and corruption has a higher authority than the law that fights it.

There is no country in the world that is devoid of corruption, whether financial or political, but the levels of its presence differ from one country to another.

When a country like Iraq is at the forefront of the most corrupt countries, here we are faced with a real problem in the political system and the ruling elites that produced this corruption.

The irony is that everyone agrees on the existence of corruption, and the diagnosis of its causes.

But there is no clear will to combat it or set limits to it, because everyone has begun to live with it and consider it a natural phenomenon that there is no need to rebel against or fight against.

The danger is not in corruption and its spread, but rather in its penetration into state institutions and its acceptance by citizens and politicians alike.

Hence, it produces social norms and values, politicians, and a culture that accepts corruption.

The general rule has become that the corrupt in this country are the majority, and the minority are the non-corrupt.

Society's view of anyone who holds a political or administrative position is that he is accused of corruption.

We can imagine the danger to social values ​​when society celebrates the corrupt on official occasions, when they are rotated into high-ranking positions in the state, and the absence of accountability and responsibility for anyone proven involved in cases of theft of public money.

When there is no accountability for the corrupt, the result is the spread of corruption and the transformation of its personalities into public figures accepted by society.

As long as the ruling system acknowledges the penetration of corruption into all aspects of the state, and at the same time does not fight it.

The result is the imposition of corrupt figures as representing the authoritarian system and the political society. https://economy-news.net/content.php?id=47016

The US Dollar is Being DECIMATED And They Have No Idea How To Stop It

The Atlantis Report: 9-2-2024

In this video, we dive deep into the alarming state of the US Dollar and the unprecedented challenges it faces on the global stage.

As the value of the dollar continues to plummet, policymakers are scrambling to find solutions, but are they too late? We'll explore the key factors driving this decline, including economic policies, international competition, and the shifting balance of power in global markets.

Whether you're an investor, a concerned citizen, or simply curious about the future of the world's reserve currency, this analysis will give you crucial insights into the forces at play and what they could mean for the future of the US economy.

Don't miss this urgent discussion on the potential downfall of the dollar and the ripple effects it could have worldwide.

https://www.youtube.com/watch?v=O9DcbamVyp4

$1.5 Trillion in Debt about to Enter Delinquency

Steven Van Metre: 9-1-2024

In a world that has seen its fair share of economic upheaval, the alarming statistic of $1.5 trillion in debt on the brink of entering delinquency raises concerns that could reverberate through global markets. While many have focused on conventional threats to economic stability, such as inflation and soaring interest rates, this looming crisis remains largely overlooked.

As we delve into the insidious nature of debt delinquency, we uncover why this could be the financial crisis no one saw coming.

Before we dive into the specifics, it’s essential to understand what debt delinquency means. Simply put, it occurs when borrowers fail to meet their payment obligations on loans, credit cards, or any form of credit. When these delinquencies pile up, they create a ripple effect that can jeopardize not only individual financial stability but also the health of entire economies.

The staggering figure of $1.5 trillion primarily encompasses consumer debt in various forms, including credit cards, auto loans, and student loans. Unlike previous financial crises, triggered by subprime mortgages and excessive leverage in real estate, this crisis is rooted in everyday consumer behavior. It reflects a growing trend of individuals and families overextending themselves financially, often relying on credit cards as a lifeline to maintain their standards of living.

As interest rates rise in response to inflationary pressures, many borrowers may find themselves unable to meet their payment obligations. Even a slight uptick in interest rates can result in significant additional costs for those already stretching their budgets thin.

As we face this potential crisis of $1.5 trillion in debt entering delinquency, it’s a wake-up call for individuals, policymakers, and financial institutions alike. While consumer debt has been a topic of concern for years, its impact is now at a precipice.

We must act decisively, prioritizing financial education, promoting responsible lending practices, and fostering an economic environment that supports stability. The financial crisis no one expected may be hiding in plain sight, but together, we can tackle the challenges ahead before it spirals out of control.

Watch the video below from Steven Van Metre for his insights.

https://youtu.be/Qj3FR5XT-LE

BRICS Update: Saudi Sign a $50 Billion Deal with CHINA: What's Next?

Fastepo: 9-1-2024

The United States has been applying considerable pressure on Saudi Arabia to distance itself from China and other BRICS nations due to concerns over geopolitical and economic issues.

The U.S. is particularly focused on preventing the transfer of crucial technology, infrastructure, and data to China, which could potentially threaten U.S. national security and economic interests.

Nonetheless, Saudi Arabia's recent actions, including the signing of $50 billion in memorandums of understanding with Chinese financial institutions, suggest a clear intent to strengthen its relationship with China.

This development is part of Saudi Arabia's broader strategy to diversify its economic partnerships and reduce its dependence on oil, aligning with its Vision 2030 initiative.

The agreements with Chinese banks aim to enhance two-way capital flows, covering both debt and equity investments, thereby promoting deeper economic integration between the two nations.

Specifically, Saudi Arabia’s investments in China saw substantial growth, highlighted by the PIF's move to sign six major agreements worth $50 billion with leading Chinese financial institutions.

These deals were aimed at enhancing bilateral capital flows, supporting investments in various sectors including technology and infrastructure. This follows the previous year's surge, where investments by Gulf funds in China increased from a modest $100 million to $2.3 billion in 2023, underscoring the rapid intensification of economic ties.

https://www.youtube.com/watch?v=6PjesMs6xaQ

Labor Day Coffee with MarkZ and Militiaman. 09/02/2024

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: Morning Everyone..Are we ready to turn this page???????

Member: forget the page, I want to get rid of the whole book.

Member: I’m ready for the PTB to quit wasting perfectly good 3 day weekends and pull the darn trigger

Member: End this nightmare movie and Let the chips fall where they may…. if these sleeping people aren't awake bye now chances are they might never wake up

Member: Is today the big day Mark?

MZ: There is a lot of chatter about tomorrow being our big day. Guess we will find out then-if not sooner. Today banks are closed.

Member: Today was a workday in the Middle East. No holiday here

MZ: We are hearing all kinds of rumors that everything started ripping yesterday and they are “releasing the hounds of the RV” Tons of rumors. Tons of contacts saying “This is it” Guess we will find out tomorrow.

MZ: There are a substantial amount of rumors that Indian Nations are about to have funds released to their people…along with alerts for Fines and Penalties, CMKX, and Prosperity packages. I am hearing extremely positive things for today and tomorrow on F&P’s.

MZ: Stay calm. It’s a 3 day weekend and lots of emphasis being put out there for today. We don’t know if it’s just hopium or its real? But, I can tell you I’m blown away by the number of people convinced its all about to be seen.

Member: We hear the same story every 3 day weekend.

MZ: That is why I caution you to be calm.

MZ: My Iraq folks are bouncing with anticipation for the next 3 days.

Member: I a hearing the Kurds are thwarting the HCL…Does this affect the RV?

MZ: I hear that is more like a diversion. Just have to wait. .

Member: Thank you Mark for sharing the rumor. Gives us some hope. Today would be amazing!

Member: Militiaman was excited on his last video

MZ: If you just follow the news from Iraq …there is a lot to be excited about.

Member: Please please please please pleeeeeeeeeeeeease please..... let's do this!!!!

Member: Looks like Redemption Center Staff not working today???

MZ: I have not been able to reach any redeption contacts…so don’t know what to tell you on that. I have no idea if they were called in to work today or not.

Ember: Maybe that’s good news?

​​Member: Two of our banks had a parking lot full of employees on Saturday, after being closed to the public!!

MZ: MilitiaMan may be joining us today …They are openly talking about Lower Denominations in Iraq again. Any rumors of cut sheets or currency samples circulating in the banks again …13 banks are set up in Iraq to handle exchanges.

Member: Hoping to retire here soon!

Member: Excited to see what September has in store for us!

Member: I’m not even looking for anything to happen until after the election……hope I’m wrong.

Meber: I’m looking for gold backed currencies and the QFS……then the RV

Member: I hope that this month we dont get the infamous " this has to get done before the end of fiscal year" that we get every september. I'm sick and tired of it.

Member: Yes the US fiscal year starts Oct. 1…..

Member: Mark and MM we love you both for your integrity, honesty and positive energy!!! Thank you!

Member: Good day all! Wishing everyone a safe and happy Labor Day!

MilitiaMan Joins the stream today. Please listen to the replay for his information and opinions

Stacie Z also joins the stream at the end. Please listen to 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=7kq6OWqymbI

Good Morning Dinar Recaps,

For the second quarter of 2024, Hedera had a very good financial situation in terms of several aspects.

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“I think we are the largest layer 1 with on-chain governance. There are some smaller players, like Tezos and Polkadot, who already have on-chain governance. But if there was a leaderboard, real decentralized layer-1s, we would be number one.”

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KTFA:

Clare: Al-Sudani confirms to the consulting company the necessity of meeting the technical and economic needs of the development road project

9/1/2024

Prime Minister Mohammed Shia Al-Sudani received today, Sunday, representatives of Oliver Wyman Consulting Company for the Ministry of Transport.

A statement from his office, received by {Euphrates News}, stated that: "This came within the framework of Al-Sudani's follow-up of the Iraq Development Road project and the progress of work in it, in the presence of a number of advisors."

He added, "The meeting witnessed a review of a number of tracks to follow up on the implementation stages according to the timetable for the sections."

Al-Sudani stressed the "necessity of the consulting body to take into consideration meeting the technical and economic needs of the project, which confirms its pivotal role in the economy of Iraq and the region." LINK

Clare: Imposing a curfew in all Iraqi governorates on November 20 and 21

9/1/2024

The Iraqi government decided, on Sunday, to impose a curfew on November 20 and 21 in all regions and cities of the country to conduct the population census.

This came during the chairmanship of Prime Minister Mohammed Shia Al-Sudani of the third meeting of the Supreme Population Council, during which the preparations underway to conduct the general population and housing census next November were discussed and followed up.

The meeting approved a set of decisions that would facilitate the preparation and training process for conducting the census, as follows: Imposing a curfew in all Iraqi governorates on November 20 and 21, to conduct the population census.

It was also decided to address the requirements with the Kurdistan Regional Government of Iraq regarding training statistical personnel for the numbering and enumeration process.

Among the decisions, the Ministries of Education, Higher Education and Scientific Research will support the statistical process by preparing classrooms for training, as well as youth centers through the Ministry of Youth and Sports.

The Council stressed in its decisions the need to expedite the transfer of financial requirements and allocations to finance the census project.

The statement also referred to hosting the head of the General Authority for Statistics and Geographic Information Systems in the meeting of the Supreme Committee for Coordination between the Governorates.

The meeting approved the study of amending the Compulsory Education Law No. 118 of 1976, as well as supporting the executive body for literacy in the governorates, and providing it with the required financial allocation.

It was also decided to adopt the report on the overall procedures and indicators achieved by the sectoral ministries concerned with implementing the recommendations issued by international conferences and national commitments on population issues, issued by the Statistics and Geographic Information Systems Authority in the Ministry of Planning, provided that the report includes appendices that include the most important statistical indicators resulting from the general population census, the social and economic survey of families in Iraq, and the multiple-indicator survey.

Today, Sunday, September 1, the Ministry of Planning began the census and numbering operations, which will continue for two months, in preparation for implementing the general population and housing census, scheduled for November 20, 2024.

The head of the Statistics and Geographic Information Systems Authority at the Ministry of Planning, Diaa Awad Kazim, called in a press conference held yesterday for the Council of Ministers to impose a curfew on the census day in order to complete household data.

Last May, the Iraqi Deputy Prime Minister and Minister of Planning announced commitment to the timelines of the action plan, and the population census will be implemented on its scheduled date of November 20, 2024.

At the end of last May, the Ministry of Planning conducted a pilot census in 86 localities distributed among 18 governorates, 46 in rural areas and 40 in urban areas.

Iraq is preparing to conduct a general population census on October 20 of this year.

According to estimates prepared by the Ministry of Planning, the population of Iraq in 2023 is 43 million people, while the capital, Baghdad, has the largest population according to population projections based on annual estimates.

The Ministry of Planning expects Iraq's population to reach 48 million by 2028. LINK

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

Samson Article 1: "The Minister of Finance follows up on the regulation of the work of government banks with the international auditing firm Ernst & Young" Article 2: "Central Bank contracts with international auditing firm in New York"

Militia Man You didn't have anybody talking about privatizing the banks 20 years ago...It wasn't in the pipeline. It's obviously different from 2016. We don't have ISSI anymore. It's obviously different from 2018. Why would they print all that currency in 2018 and then just stop doing it? ...It's really a complex situation. It's more than just pushing a button... There was a component of corruption...We all know they're going to have transparency and accountability...With the likes of Ernst & Young involved the world will find confidence...You're going to find big things are underway for this country.

The Collapse of America & Everything Wrong With Society Today (+ A Hopeful Way Forward) | Ray Dalio

Tom Bilyeu: 9-1-2024

Today, we dive deep into the complex dynamics of America's current economic and societal challenges with legendary investor and author, Ray Dalio. In this episode titled "The Collapse of America & Everything Wrong With Society Today (+ A Hopeful Way Forward),"

Tom and Ray explore the precarious state of the U.S. economy, examining the consequences of national debt, the importance of fiscal responsibility, and the geopolitical shifts threatening the dollar's status as the world reserve currency.

Ray Dalio lays out a clear blueprint for navigating these turbulent times, emphasizing the need for financial strength, prudent governance, and social cohesion.

The conversation delves into critical topics such as the devaluation of the dollar, the necessity of a thriving middle class, and the transformative impact of quality education and equal opportunity.

They also discuss intriguing case studies, including Singapore's remarkable rise and the fundamental principles that have guided historically successful nations.

This episode is a must-listen for anyone concerned about the future of America and looking for actionable insights on fostering a more resilient and prosperous society.

Tune in as Tom and Ray tackle the tough questions and offer a hopeful path forward.

https://www.youtube.com/watch?v=S0j8_1t1c1A

TNT:

Tishwash: Iraq participates in the meeting of the Arab Economic Council

The Arab Economic Committee is scheduled to begin its work today, Monday, to prepare for the 114th session of the Arab League's Economic and Social Council, which will be held at the ministerial level next Thursday, with the participation of the Minister of Trade, Athir Dawood Salman Al-Ghariri.

She continued that the report focused on continuing to implement the social dimensions of the 2030 Sustainable Development Plan, supporting vulnerable groups in society, and other activities related to persons with disabilities and the elderly, health, youth, women, family and childhood, population policies, civil society and human rights, migration and expatriates, education, scientific research, culture and dialogue of civilizations. link

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Tishwash: Schlumberger signs Iraq Training Agreement

TheArab Institute for OilandSchlumbergerhave signed a cooperation agreement at the Iraqi Ministry of Oil, focusing on training and development for the sector's workforce.

Bassem Mohammed Khudair, the Deputy Minister for Extraction Affairs, stated that this memorandum aligns with the ministry's strategy to enhance technical and engineering skills.

Schlumberger's Executive Director in Iraq, Waseem Al-Azmeh, emphasized the company's commitment to using its expertise to develop the skills of Iraq's oil sector employees.

Hisham Yass, General Director of the Training and Development Department, highlighted that this partnership is a significant addition to the ministry's training program, to be implemented through the Arab Institute for Oil, which is responsible for certifying training programs.

Ghaleb Mohammed Ali, the Deputy Director of the institute, expressed hope that this collaboration will help achieve the ministry's goals in improving the performance of its workforce. link

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Tishwash: The Central Bank of Iran sold 320 billion Iraqi dinars to visitors

Iranian media revealed, today, Sunday, that 1.6 million Iranian visitors purchased the Iraqi currency in Iran before heading to Iraq to perform the Arbaeen pilgrimage.

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Tishwash: Al-Sudani's advisor explains the reasons for the fluctuation of gold prices in Iraq

The financial and economic advisor to the Prime Minister, Mazhar Salih, said today, Monday, that the reasons for the fluctuation of the price of gold in Iraq are not internal, but rather global, indicating that the Iraqi government encourages the import of gold because it is a “safe haven” for wealth.

At the state or individual level, gold has historically been a safe haven for preserving the purchasing power of wealth, as people keep gold for that purpose, and the cycle of gold assets between rising and falling is usually slow. If we take the cycle of assets, we find gold, almost as an average, as it is of constant value among other wealth,” Saleh told Al Furat News Agency, explaining that “society has historically been accustomed to keeping gold as a tendency to preserve personal wealth.”

He added, "In the modern era, the state keeps part of its foreign reserves supporting the national currency in gold. For example, Iraq keeps about 148 tons of gold, which constitutes 10% of its foreign currency reserves."

During the past month of February, Iraq's gold reserves witnessed a significant increase, as data from the International Monetary Fund showed that Iraq had increased its holdings of the precious metal by 3,079 tons, bringing the total to 145,661 tons.

He continued, "The reserves are a diversified investment portfolio of gold and currencies such as the dollar, euro, pound, yuan, yen, and others," describing this diversity as "based on basic global evidence, and it is not arbitrary."

He pointed out that "this evidence was made in agreement with the International Monetary Fund, in terms of the percentages of monetary gold that support and are considered a cover for the Iraqi dinar."

He stressed that the global standard for this is 10%, considering gold “not easy for fast payment operations and others, and it is heavy, but it is part of protecting reserves and confronting fluctuations in currency values.”

He explained that "the gold asset cycle is slow, so keeping it protects reserves from currency fluctuations. Iraq is not a maker of gold prices in global markets, but rather a recipient, because we are not a country that possesses gold wealth, but rather we import gold. Therefore, the entry of gold into

Iraq is a good wealth that is better than the entry of consumer goods that are not valuable and drain resources. Gold is a "precious wealth for the future," noting that "the gold discovered in the world is approximately 75%, and it is limited and not extensive, so central banks are pushing to keep a minimum amount of gold."

He stressed that "the policy of encouraging the entry of gold into Iraq is an import of wealth, and as assets they represent good stores of wealth, so the state encourages this and the customs taxes on them are moderate," indicating that "the gold markets in Iraq depend on two things: its price in the world and the extent of the rise or fall of the dollar, and we receive external visas at the value of gold and the dollar," considering encouraging the flow of gold into Iraq "a good thing. Recently, the price of gold has risen in Iraq, as the price of a mithqal (5 grams) has exceeded 500 thousand Iraqi dinars." link