Dinar Recaps Blog Page — Dinar Recaps (2025)

This Is How The Citizen Gets The Dollar

Economy | 09/16/2024 Mawazine News – Baghdad The Trade Bank of Iraq announced today, Monday, the mechanism for obtaining the dollar currency for the purposes of traveling abroad.

The bank stated in a statement that "the requirements for obtaining the dollar currency for the purposes of traveling abroad are:

1. A valid Iraqi passport with a valid visa or residence.

2. A civil status ID and a certificate of nationality or a unified national card.

3. A residence card.

4. A valid travel ticket.

5. A pledge not to purchase foreign currency from another party inside Iraq for a period of (one month).

6. The traveler must be of Iraqi nationality and over (18) years of age.

Purchase mechanism:

1. An amount must be deposited in dinars at the bank branch exclusively, provided that the amount in dinars is equivalent to the value of the share of the same amount in dollars allocated for travel.

2. The dollar share shall be received from the outlet of the Iraqi Trade Bank at Baghdad International Airport (Babylon Hall) exclusively and by handing over the deposit slip granted to the customer when he deposited the amount in dinars.

3. The maximum period for depositing before the travel date is three days.

4. The dollar shall not be delivered to the traveler until after completing the travel procedure (Boarding pass) and after completing the passport stamping procedures.

5. The bank outlet at Baghdad International Airport will be designated For delivery purposes, the Travelers Dollar is available 24 hours a day, 7 days a week. ttps://www.mawazin.net/Details.aspx?jimare=254964

The Central Bank Announces A 15.7% Decline In Iraqi Exports In The First Quarter Of This Year

Monday 16 September 2024 | Economic Number of readings: 218 Baghdad / NINA / The Central Bank of Iraq announced today, Monday, a decline in Iraqi exports during the first quarter of this year by 15.7%.

The bank stated in a report that "Iraq's commodity exports declined by 15.7% during the first quarter of this year to reach 23 billion and 474 million dollars, compared to 27 billion and 847 million dollars for the fourth quarter of last year."

It added that "Iraqi oil exports constituted 96.7% of total commodity exports for the first quarter of this year, recording a decline of 16.4% compared to the last quarter of the previous year, and this decline is attributed to a 10.7% decline in oil prices."

It pointed out that "exports of petroleum products, including naphtha, diesel oil, and other products, constituted 2.7% in the first quarter of this year of total exports."

The bank indicated that "other commodity exports constituted a small percentage of 0.6% of total commodity exports, the largest part of which focused on industrial equipment and some primary foods and beverages prepared for family consumption." / End 8

https://ninanews.com/Website/News/Details?key=1154138

6 Scenarios That The Iraqi Central Bank Will Work On, Narrated By Al-Issawi

Local | 09/15/2024 Mawazine News – Baghdad Economic expert Abdul Karim Al-Issawi said: “Today, the Central Bank of Iraq has actually moved to the stage of direct relations with correspondent banks, and it is in the experimental stage with monitoring the changes that occur in all the processes for the purpose of fortifying the transformation.”

Al-Issawi Told Mawazine News Agency: The Platform Aimed To Enhance Transparency And Ensure Compliance With International Laws, Especially With Regard To Combating Money Laundering And Terrorist Financing.

He pointed out that:

**Potential Benefits:

1. *Facilitating remittances*: Direct relationships may make remittances faster and more flexible.

2. *Reducing remittance costs*: Relying on a platform may require additional costs that may decline with the new system.

3. *Enhancing international confidence*: If these relationships are managed well, this may help enhance the international community’s confidence in the Iraqi banking system.

As for the potential challenges: He said: “

1. Compliance risks: Easing oversight could increase the risks of money laundering and terrorist financing, which could harm Iraq’s international reputation.

2. Complexity of banking operations: Some banks may face difficulties in managing complex international relationships directly without the mediation of the Central Bank.

3. Impact on monetary policy: The Central Bank may lose some control over external capital flows, which could impact monetary policy.

It is important that this transition (if it occurs) be done gradually and thoughtfully, while ensuring that strong oversight mechanisms are in place to ensure that the Iraqi banking system is not exploited for illicit purposes.

The final decision will require a balance between benefits and risks, and will certainly have a significant impact on the Iraqi economy and international relations.

The economic expert stated that the Central Bank of Iraq is negotiating with the US Federal Reserve regarding ending the work of the electronic platform for foreign transfers and replacing it with direct banking relations between Iraqi banks. https://www.mawazin.net/Details.aspx?jimare=254919

Parliamentary Finance Committee Discusses Proposal To Establish Sovereign Fund

Chairman Of The Parliamentary Finance Committee Atwan Al-Atwani Money and business Economy News – Baghdad The Parliamentary Finance Committee announced, on Monday, discussing a proposal to establish a sovereign fund.

The media department of the House of Representatives stated in a statement, which was reviewed by "Al-Eqtisad News", that "the head of the Finance Committee, Atwan Al-Atwani, chaired a deliberative meeting of the committee in the presence of a number of its members, to discuss a number of important topics and files."

The statement added that "the meeting reviewed the outcomes and indicators of previous meetings with government agencies regarding maximizing non-oil revenues, where it was agreed on the next steps by submitting a detailed report to the government on the sources of deficiency, especially in the electricity, tax, customs and other major financial outlets sectors."

The statement continued, "The committee discussed a number of proposals that would maximize financial revenues, including the legislation of special laws on taxation, in addition to forming a committee to conform to standards, which is responsible for reviewing the estimation of planned revenues for state institutions."

The statement continued, "The committee discussed a proposal to establish a (sovereign fund) similar to rentier countries, in order to confront fluctuations in global oil prices or any financial crisis, provided that the fund is financed from the budget surplus achieved in circumstances of economic and financial prosperity."

The statement concluded, "The meeting also discussed the laws referred to the Finance Committee as a supporting committee, where Al-Atwani stressed that the committee will have an opinion and a fundamental role in legislating these laws, especially those related to economic reform and others." 105 views 09/16/2024 - https://economy-news.net/content.php?id=47664

Oil Prices Rise Slightly, Brent Hits $71 A Barrel

economy | 09/16/2024 Mawazine News – Baghdad Oil prices rose in early trade on Monday amid expectations of a U.S. interest rate cut this week, but gains were capped by a resumption of U.S. supplies after Hurricane Frances and weaker Chinese data. Brent crude futures for November delivery rose 15 cents, or 0.2 percent, to $71.76 a barrel. U.S. crude futures for October delivery rose 23 cents, or 0.3 percent, to $68.88 a barrel. https://www.mawazin.net/Details.aspx?jimare=254934

Parliamentarian: Iraq Needs Economic Plans To Protect It From Oil Price Fluctuations

September 12, 2024 Baghdad/Iraq Observer During thepast three months,oil priceswitnessed a cleardecline, as oil prices fell from $90 per barrel to $70.2 at a time when 90% of Iraq’s imports depend on oil. This decline will pose a challenge to theIraqi economythrough its impact on its operating and investment budget.

In this regard, a member of theParliamentary Oil and Gas Committee, Aso Faridoun,confirmedthat
“althoughIraqhasfinancial reservesin addition tothe presence ofgold reserveswith theCentral Bankanddoes not have any debts, all of these elements have made the economic situation of Iraq much better than other countries in the region.”

Helacksaneconomic planto protect him fromoil price fluctuations.”

During his speech to Iraq Observer, a member of theOil and Gas Committeecalled for thenecessity ofdevelopingalternative sectors such as theindustrialandagriculturalsectorsinstead of relying on a single source of income and to be a auxiliary to it, as many countries did, including the Gulf countries, which fully secured their economy and emerged from the crucible of relying on oil as a sole source through plans. A development that has been around for about 15 years.”

Fereydoun pointed out that “oil, like othercommodities, is affected bysupply and demandfactors.

For example, there is a clear decline in Chinese demand, as China possesses approximately 40% of the world’s oil imports.”

He continued, “Demand decreased from 16 million barrels per day to 8 million barrels, and this coincided with an increase in the surplus in global markets as a result of the presence of a surplus from OPEC countries by 1 million 200 thousand barrels per day and non-OPEC by 200 to 400 thousand, an increase estimated at 1 million 400 thousand barrels per day, and this accumulated.”

The percentage cumulatively increased supply, reduced demand, and led to lower oil prices.” He pointed out that “thedecline in Chinese demand for oil in particular is due to two main reasons.

First, there is an expectation of adecline in the global economy, which will continue for the next three years, which means that the demand for fuel will decrease.

Secondly,China obtains oil from markets outsideOPEC’s accounts, which, according to economic experts, representsa kind ofdestabilization.” It obtains oil from these markets at low prices.” https://observeriraq.net/برلماني-العراق-بحاجة-لخطط-اقتصادية-تق/

Including Amending The Iraqi Central Law... A Number Of Files On The Parliament’s Financial Table

September 16, 2024 Baghdad/Iraq Observer Today, Monday, theParliamentary Finance Committeeannounced a parliamentary approach toamendtheCentral BankandBanking Laws.

TheParliament’s Media Departmentstated, in a statement received by “Iraq Observer,” that

“theFinance Committee, headed by Atwan Al-Atwani, held a meeting today, Monday, at the committee’s headquarters, in the presence of a number of its members, during which the laws referred to theFinance Committeewere discussed in its capacity as a supporting committee, in addition to a review of previous meetings.” About non-oil revenues.”

The head of the committee stressed, according to the media department’s statement, “the need for a representative from the committee to attend all meetings of the other parliamentary committees to express an opinion on the joint laws as it is a supportive committee in legislating those laws.”

The committee decided to “conduct a field visit to the Kurdistan Region and the ports to follow up on oversight-related procedures and prepare a report thereon.” She added,

“A number of important laws were discussed, including “unified retirement and owners,” with the possibility ofamending laws such astheCentral Bank Lawand theBanking Law.”

The committee discussed “the possibility oflegislating a law oncollection and tax for all economic sectorsor including it in the economic reform law.” The committee noted, “discussing the

proposal to establish asovereign fundfor the country, and forming a team toreviewgovernment proceduresrelated torevenuesand estimatefinancial returnsaccording to spending units.”

The committee decided to “host theDeputy Minister of Planningto follow up on the ministry’s workregardingincreasing revenues in various sectors, and to host theChief of Staff of the Armyto discuss financial matters related to the ministry.”

https://observeriraq.net/بينها-تعديل-قانون-المركزي-العراقي-جمل/

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

Good Evening Dinar Recaps,

SEN. WARREN ADVISES 75BPS FED CUT ON RECESSION FEARS

Despite rhetoric about a strong U.S. economy, three Democratic Senators urged the Federal Reserve to implement an aggressive monetary policy shift.

Crypto-skeptic U.S. Senator Elizabeth Warren of Massachusettscalled on the Federal Reserve and its chair, Jerome Powell, to slash interest rates by 75 basis points to curtail recession risks.Warren’s letter, co-signed by fellow Senators Sheldon Whitehouse and John Hickenlooper, warned of potential economic declines that smaller funding cuts may usher in.

Source:Crypto News

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This is particularly for interoperability between commercial bank money and the CBDC. Because of this restriction, none of the interoperability options were deemed entirely suitable.

In terms of who should be responsible for various features, the paper concludes that a financial market infrastructure is the answer. The Barclays team came to a similar conclusion regarding programmability in the previous paper.

Lee Braine from the chief technology office at Barclays, said that they“evaluated various design options and concluded a financial market infrastructure could help simplify the experience of ecosystem participants and facilitate the creation of innovative services.”Dr Braine is also a member of the Bank of England’s CBDC Technology Forum.

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🌍THE GLOBAL CURRENCY RESET: REVOLUTIONIZING THE FINANCIAL WORLD |Youtube

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Saudi Wants China’s RMB For Oil As BRICS Threatens USD With Payment System Backed By Gold

Sean Foo: 9-16-2024

In two big updates, Saudi Arabia has gone public, saying they would gladly accept the Chinese Yuan for oil.

This is a big snub to the dollar as it continues to get weaponized .

Meanwhile, BRICS is preparing a new financial system where gold could become an integral component.

Timestamps & Chapters:

0:00 Saudi Accepts Yuan For Oil

2:59 Saudi China Big Economic Agenda

5:49 BRICS To Challenge USD Hegemony

7:36 Sponsor: Indigo Precious Metals

9:01 Trump Fears The End Of USD

10:08 BRICS Payment System & Gold

12:48 America's Biggest Crisis

https://www.youtube.com/watch?v=2ol-v_PuecY

LIVE! The DOLLAR IS BURNING! AND PEOPLE HAVE NO IDEA OF HOW BAD THIS IS GOING TO GET.

Greg Mannarino: 9-16-2024

https://www.youtube.com/watch?v=vYbzyrKQD7k

6 Banks Are At Risk of Collapse Now

Atlantis Report: 9-16-2024

The banking sector is on the brink of a crisis as the global economy teeters on the edge of recession. With six major banks under intense scrutiny, growing fears of instability are casting a shadow over the entire financial landscape.

As economic conditions deteriorate, lending standards tighten, creating a precarious environment for these institutions. The looming threat of insolvency is sending shockwaves through investors, depositors, and the public, fueling widespread anxiety about what lies ahead.

6 Banks Are Now At Risk of Collapse.

https://www.youtube.com/watch?v=AmDu9IFsQ1M

KTFA:

Clare: Iraqi government moves to impose taxes on social media sites

9/16/2024

Financial expert Nabil Al-Marsoumi revealed on Monday that the Iraqi government is planning to impose taxes on social media sites in Iraq, among the people covered by these taxes.

Al-Marsoumi told Shafaq News Agency, "The Iraqi government is studying a proposal to impose taxes on content creators on social media sites in the country, not users of those sites. This process came in order to enhance non-oil revenues, especially in light of the decline in oil prices and the deterioration in oil revenues. These taxes will provide good financial revenues, and for this reason the percentage will be 15% of the profits of content creators, especially since some of their profits are estimated in the millions on a daily basis."

He added, "This decision does not require a vote by the House of Representatives, as this is a decision within the authority of the Council of Ministers to expand the tax base, and does not require a law, but it is still under study, and may come into effect at the beginning of next year, as it requires months of work and study." LINK

Clare: Private Banks Association: The number of electronic payment points in Iraq increased from 7 thousand to 30 thousand

9/15/2024 Baghdad

The Executive Director of the Iraqi Private Banks Association, Ali Tariq, confirmed on Sunday that "the number of electronic payment points in government institutions and shops has increased from 7,000 to 30,000."

Tariq said, in a statement reported by the "Rudaw" media network, and reviewed by "Al-Eqtisad News", that "the financial and banking sector, electronic payment companies and other financial institutions in Iraq need to have a greater impact on the lives of citizens in terms of financing or using electronic payment tools and developing them."

He added that "the Central Bank of Iraq is currently working on a major plan to reform the banking sector in general, whether governmental or private."

He noted that "the focus in the next phase will be on developing and improving these services to strengthen the Iraqi banking sector, protect depositors' money and develop the electronic payment system, which contributes significantly to reducing the risks of using cash, whether from damage or forgery, as well as protecting the financial system from money laundering and financing terrorism."

As for deposits, he confirmed that they are "continuously increasing, whether in government or private banks, and that lending and loans are also continuously increasing."

Regarding the use of electronic payment tools, he said that "in the last two years the percentage has been very high, in the last year alone about two million electronic payment cards were issued in Iraq, increasing the number to 20 issued cards."

Regarding the payment devices that we see in shops and government institutions, he pointed out that "they have increased from 7,000 payment points to more than 30,000, and the total transfer of funds via electronic payment last month between financial institutions reached nearly 2 trillion Iraqi dinars."

The Executive Director of the Iraqi Private Banks Association confirmed that reliance on the banking sector, especially in light of the transfer system to finance foreign trade, "was organized differently than before, and at the end of this year there will also be a shift in the external transfer process to rely more on correspondent banks than the platform in its current state."

Regarding the collection of government services, he said that "recently there has been a very large acceleration and doubling in the level of government collection."

He added that "before June 2023, there were about 50 government institutions with their departments that had at least one electronic payment window, but today the number has exceeded 600 payment windows, which makes it easier for citizens to pay faster."

In the context, he stressed that "many banks rely on digital services and applications throughout Iraq and the Kurdistan Region, which has witnessed significant development in terms of the use of digital services."

Regarding transferring money abroad, he explained that if "the issue is related to personal transfers, there are specific outlets or ceilings for these transfers."

In this regard, he said that "the transfer process will be more organized and monitored by correspondent banks in which Iraqi banks have accounts to ensure real transfers and monitoring that facilitates the process of transferring money for merchants outside Iraq." LINK

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

Frank26 [Iraq boots-on-the-ground report] FIREFLY:
Television is telling us they are completing digitization at all of our ports. We know it means that the real value of the dinar will soon be given to us for our food...transportation...housing...the whole world. FRANK: You see every day there's more and more exciting news being given to the Iraqi citizens and they all piece it together...When you see prices of your food...market... housing...cars, start to change, it's because they will introduce a new exchange rate very soon to you...

Militia Man They're talking about Iraq as going global and to the international financial system. With that has responsibility and that responsibility will be defended by the central bank. That responsibility is to have a stable exchange rate and to provide commerce throughout the country in and out and across borders, with efficiency and transparency. That's what they're going to have and that's what they're doing. There's looking to be no stopping it. It's brilliant.

Market Crash or Massive Rally this Week? What a Fed Pivot will do to Tech Stocks

David Lin: 9-15-2024

In the world of finance, few events stir as much speculation and debate as the Federal Reserve’s monetary policy decisions. This week, as Wall Street braces itself for the possibility of a Fed pivot—an abrupt shift in monetary policy—investors and analysts are torn between two starkly different outcomes: a market crash or a massive rally. To delve deeper into this conundrum, we turn to insights from Bradley Tusk, Founder and CEO of venture capital powerhouse Tusk Ventures, known for backing successful tech companies like Ripple, Coinbase, and Lemonade.

The Federal Reserve has a dual mandate: to maximize employment and stabilize prices. In times of economic uncertainty, these objectives often come into conflict. With persistent inflation and slower-than-expected economic growth feeding concerns across markets, many are speculating that the Fed may pivot towards a more dovish stance, potentially cutting interest rates or slowing the pace of rate hikes.

So, what would such a pivot mean for tech stocks? Tusk paints a mixed picture. On one hand, lower interest rates generally create a favorable environment for growth stocks, especially in the tech sector, where future earnings are often heavily discounted in present valuations. On the other hand, there’s the reality of inflated expectations.

With the market at a crossroads, one thing is certain: the decisions made this week will likely echo in the investment community for years to come.

https://youtu.be/5g820_KlWww

It includes various forms of currency, such as physical cash (coins and banknotes) and demand deposits (money in bank accounts that can be easily accessed). Money supply is categorized into different measures:, M0: Physical currency in circulation, M1: M0 plus demand deposits and other liquid assets and M2: M1 plus less liquid assets like savings accounts and time deposits )

As of 2024, the estimated global money supply is around $120 trillion. This figure includes various forms of currency such as cash, demand deposits, savings accounts, and other easily accessible assets. The M2 money supply being a broader measure, also takes into account less liquid assets like time deposits. Beyond traditional money, global financial markets—including investments, real estate, and other assets—total in the hundreds of trillions, with some estimates of total global wealth exceeding $1,540 trillion

The amount of money supply needed to run the global economy is not a fixed figure, but it needs to balance facilitating trade, investment, and economic growth without causing inflation. In practical terms, this depends on factors like productivity, the velocity of money (how quickly money circulates), and the state of the economy. Central banks regulate money supply to stabilize economic growth and control inflation, adjusting it as economies expand or contract. The current global money supply of around $120 trillion reflects these adjustments to keep the economy functioning smoothly.

If all currencies were hedged against hard assets (such as gold or other commodities), it would reduce the flexibility of central banks to adjust the money supply based on economic conditions. In such a system, the money supply would be limited by the availability of the asset, which could constrain economic growth, especially during times of increased demand. This would also lead to more stability in currency value but could make the global economy less responsive to economic crises or fluctuations in trade.

Historically, the gold standard imposed such limitations, which is one reason why modern economies moved to fiat currency systems. So even if we see a move to asset backed currencies there will have to be some form of a fiat component.

So back to the original question, where is the money coming from? You cannot just add currency to the money supply. And judging by the astronomical amounts being suggested, common sense says you would create global inflation overnight. Redistributing current global wealth would mean somebody is going to have to give up something.

People out there saying the GCR has started, answer that question before passing on information that cannot be substantiated. Instead of looking for funds to show up in your account pay more attention to the mechanisms required to move the money first. When those are in place then start believing.

We should quit watching how the plane takes off and worry more on how it’s going to land.

DJ

https://dinarchronicles.com/2024/09/16/the-office-of-poofness-weekly-report-update-from-poof-and-dj-9-15-24/

And, Right On Cue, Gold Hits Another All Time High...

Notes From The Fuield By James Hickman (Simon Black) September 16, 2024

This is an anomaly we haven’t seen before.

Gold just hit yet another all-time high. But what’s strange is that, if you look at gold’s supply and demand fundamentals, the price should almost be falling. Not rising.

I’ll explain—

On the supply side, gold production is actually increasing slightly. The largest miner in the world, Newmont Mining, produced nearly 30% more gold in the first half of 2024 compared to 2023. And across the entire industry (according to the World Gold Council), global gold mining output is up slightly over 2023.

So much for shrinking supply.

But what about demand? Well, this is usually broken down into four main segments.

The first and (by far) largest segment of demand is jewelry. But global jewelry demand is down.

Signet Jewelers (which owns major jewelry brands like Kay, Zales, Jared, Blue Nile, and many others) has reported an 8.5% drop in revenue so far in 2024 versus 2023. Meanwhile China’s Gold Association reported a 27% decline in gold jewelry purchases in the first half of 2024.

Even on the high-end side, LVHM’s jewelry division (which includes the luxury brand Tiffany’s) also reported a 5.1% sales decline due to “an uncertain economic and geopolitical environment. . .”

So overall jewelry worldwide (which is THE biggest component of gold demand) is down. Worldwide.

The next segment which drives gold demand is investment demand, i.e. individual investors who buy bars and coins... but most often invest via Exchange-Traded Funds.

Well, the largest ETFs in North America (GLD and IAU, which comprise 80% of the market) are DOWN for the year, meaning they have been net SELLERS of gold, rather than buyers. Even in the month of August, these two combined for a big fat whopping 1.7 metric tons of net purchases, roughly $200 million.

That’s nowhere near enough to move the gold price.

Meanwhile, across the Pacific, all of Asia’s gold ETFs COMBINED only purchased a net 0.3 metric tons (i.e. $30 million) last month. Again, this is simply not enough demand to move the gold price.

And so far for the year, worldwide, gold ETF holdings are DOWN by about 44 metric tons.

The third category of gold demand is industrial use. You might already know, for example, that there’s about 50mg of gold in your mobile phone thanks to gold’s unique chemical properties as an electrical conductor.

So mobile phone producers (along with certain medical device manufacturers and a handful of other industries) also buy gold. It’s pretty small demand, though— industrial and technology use only makes up about 10% of global gold demand.

That said, it’s worth pointing out that iPhone sales (which is a good proxy for global mobile phone production) are down substantially, from a peak of $48 billion in Q1/2021 to just $39 billion in its most recent quarter.

So, to summarize, jewelry demand is flat or down. Investment demand for gold is flat or down. Industrial demand is too small to matter, but even that is down. Meanwhile, supply is rising.

Rising supply and falling demand? It seems like gold prices should be falling right now. And yet gold just reached yet another record high. What gives?

Well,as we’ve said before,the answer is central banks.

Poland is a great example; despite being a relatively small country, it bought 19 metric tons of gold last quarter alone. And it plans to buy at least another 125 tons in the future. That’s a lot of gold.

This is a trend taking place worldwide; central banks including China, Turkey, Qatar, India, Czech Republic, etc. have loaded up on gold this year. And in the second quarter of 2024, central banks purchased 183 metric tons of gold... which is far more than usual.

Central banks typically buy small amounts of gold, i.e. a few metric tons here and there. But over the past two years, they’ve been buying gold like crazy.

It’s pretty obvious why. They’re concerned about the world, and they’re concerned about the fate of the US dollar and US government finances.

Think about it— central banks around the world own TRILLIONS of dollars worth of US government bonds, i.e. US dollar foreign reserves. And they’re obviously worried.

Congress and the White House run outrageous budget deficits every year. The federal government’s dysfunction is a constant national embarrassment. The US national debt is set to soar by AT LEAST $22 trillion over the next decade. And inflation is far from being solved.

Foreign central banks know this. And they realize that, in a few years time, their trillions of US dollar reserves will be worth a lot less.

So they’re trying to do something about it now. And that means trading at least SOME of their dollars for gold... hence the feverish central bank gold purchases, and the all-time record high in the gold price.

We’ve already suggested that gold could easily go much higher... especially if Kamala wins. I think that’s easily a $10,000 gold price, which would suggest only a small percentage of US dollar foreign reserves invested in gold.

That doesn’t mean the gold price can’t fall in the meantime. Gold prices have been rising for so long, and, realistically, nothing goes up or down in a straight, uninterrupted line.

Some central banks will continue buying gold irrespective of its price. Others will be more conservative and try to play the market. Singapore’s central bank, for example, actually sold a bit of gold recently and are probably hoping for a pullback in prices to buy more.

But over the longer term, gold is still an extremely sensible hedge with a lot of upside.

Having said that, the real value we see right now is in gold miners.

Look at Newmont mining— and, this is not a recommendation, but just an example. Newmont is the world’s largest gold miner, i.e. more than 80% of its revenue is essentially gold.

Gold is at an all-time high, yet Newmont’s stock price is about 40% below its record high from a few years ago.

Sure, it’s a much more complicated story; you have to consider gross margins and mining costs and country risk, etc. But the larger point is that gold stocks (especially relative to gold) are very cheap right now... especially when you consider where gold could be a few years from now.

To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/and-right-on-cue-gold-hits-another-all-time-high-151422/

Good Afternoon Dinar Recaps,

LAWMAKER CALLS ON CFTC TO REGULATE ELECTION MARKETS AS POLYMARKET ACTIVITY FALTERS AMID UNCERTAINTY

Source:CryptoSlate

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RIPPLE JOINS HANDS WITH HEDERA AND APTOS LABS TO LAUNCH MICA CRYPTO ALLIANCE

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Join President Trump LIVE at 8PM (ET) on X Spaces for his announcement on World Liberty Financial!

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BIG! XRP and Interledger Protocol key to solving current issue of disconnected financial networks. |Youtube

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There are several impacts that global currency changes can have on individuals and their businesses, global mobility, and investing.

The agreement required countries to guarantee the convertibility of their currencies into US dollars to within 1% of fixed parity rates, with the dollar convertible to gold bullion for foreign governments and central banks.

Shortly after 1971, the term “petrodollar” refers to the system that emerged whereby oil-exporting countries agreed to price their oil exports in US dollars. The petrodollar allowed the US to maintain its dominance in the global financial system and helped to support the value of the US dollar.

Several currencies are pegged to the US dollar, a common strategy in the Caribbean and several of the citizenship by investment countries. The East Caribbean Dollar is the primary currency across all five CBI countries, and investors can settle their financial investment requirements in US dollars to obtain citizenship.

Turkey’s citizenship by investmentprograms pricing is in US dollars. Although in this instance, investors need to convert their US dollar into Turkish Lira.

A currency reset moves away from a monetary system focused on short-term profits and speculation. Additionally, a GCR could promote a more efficient allocation of resources and investment in long-term development.

In this regard, the global currency reset reduces geopolitical tensions by reducing the dominance of a single country’s Currency in international trade and finance and could promote greater cooperation and stability in global economic relations.

There are a few citizenship by investment nations that are forward looking with regards to a GCR.Antigua and Barbuda’sDigital Assets Business Bill andSaint Kitts and NevisVirtual Assets Bill are two pieces of legislation that allow registration of businesses interacting with cryptocurrencies. One step closer to allowing investors to pay for citizenship directly with crypto in the future.

By providing a digital payment system that does not require a bank account, CBDCs could help to reduce the number of unbanked individuals. Another potential benefit of CBDCs is improving payment system efficiency and leading to faster and more cost-effective transactions.

CBDCs could also provide central banks with additional tools for implementing monetary policy. For example, a CBDC could have negative interest rates, stimulating economic growth during periods of economic downturn. Governments using a CBDC can offer greater protection to consumers against f***d and theft. All transactions are available on a secure, tamper-proof ledger.

A CBDC will require its users to complete a KYC before being able to transact. There is the potential for privacy and encryption technology, but governments will unlikely align this way.

A CBDC raises privacy concerns using a centralized ledger to record all transactions. The CBDC would give the government or central bank issuing the CBDC a high degree of visibility into individuals’ financial activities. Although a global currency reset and CBDCs can include zero-knowledge privacy, there will be doubt among potential users.

Alternatively, countries like El Salvador adopted Bitcoin as a legal tender and the use of StableCoins as transaction currencies. A stablecoin is pegged to the US dollar but is a cryptocurrency, allowing users to transact anonymously. Previously bankless citizens now being able to engage in financial transactions with relative ease.

• Faster and more efficient payments;

• Lower transaction costs;

• Improved security and f***d protection; and

• Increased access to financial services.

Additionally, because the details of all transactions are on a secure, tamper-proof ledger, it may be easier for governments to track and verify investment transactions. Seeing each transaction could help to prevent f***d and ensure compliance with citizenship by investment program requirements.

Source: Global Residence Index

https://dinarchronicles.com/2024/09/16/the-global-currency-reset-and-the-future-of-a-global-currency/

TNT:

Tishwash: Iraq offers 100 investment opportunities in November

The Investment Authority revealed the desire of Egyptian companies to enter as partners in the International Development Road project with the aim of establishing this vital corridor, while it will offer 100 investment opportunities at its forum scheduled to be held in early November.

The Authority’s spokesperson, Hanan Jassim, said in a press statement that the Authority’s Chairman recently held an extensive meeting with a number of major Egyptian companies, during which they confirmed their desire to enter the local market on a large scale in order to employ Egyptian expertise in the fields of infrastructure, bridges, and electric power, in addition to building residential cities, as well as entering as a fourth partner in the International Development Road project with Turkey, Qatar, and the Emirates with the aim of establishing this vital corridor that shapes the future of the region’s economies for the next stage.

She added that the meeting witnessed an invitation to these companies to attend the investment forum that will be held early next November, during which 100 investment opportunities will be presented in all sectors.

She pointed out that the Authority has granted eight investment licenses in the housing, oil, gas, electricity and tourism sectors since the beginning of this year until now.

Jassim explained that the residential projects included the Al-Ghazlani residential city in Mosul, covering an area of ​​4,700 dunums, as well as part of the Karbala City Banks project, covering an area of ​​100 dunums, in addition to a third project on another part of the Karbala City Banks project, covering an area of ​​1,400 dunums, in addition to the new Ali Al-Wardi City project in Baghdad, covering an area of ​​61 million square metres.

She added that the authority granted a special license in the electricity sector for a project to generate electricity through solar energy with a capacity of 1000 megawatts for a French company in Basra Governorate, as it is the first license of this kind within the government’s plan to diversify in the energy sector, in addition to other projects represented by the sustainable Baghdad forests in Rashid Camp, the Bani Omar gas field project in Basra Governorate, as well as another project to complete the axial weighing stations within the plan of the Ministry of Construction, Housing and Public Municipalities to protect bridges from large loads.

Jassim pointed out that the investment process in the country has taken a new pattern that will raise the level of services and urban development, noting that the amended Investment Law No. 13 of 2006 is attractive to investors due to the facilities it includes. link

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Tishwash: Iraq trades more than two trillion dinars electronically in a month

The Executive Director of the Iraqi Private Banks Association, Ali Tariq, revealed on Sunday the volume of electronic trading in the country during the month of August, confirming that it exceeded two trillion Iraqi dinars.

Tariq told Shafaq News Agency, "The value of electronic trading in the past month of August alone exceeded two trillion Iraqi dinars," indicating that "the amount was transferred and traded using electronic payment systems of various types, whether cards or payment systems."

Tariq pointed out that "the amount reached two trillion dinars for only one month, and this amount will double to more than that in the coming months."

He explained that the number of electronic cards reached 20 million cards, which means that approximately 50% of the Iraqi population own electronic payment cards, and some citizens own two or three cards.

Tariq concluded by saying, “The number of electronic payment devices in the public and private sectors has exceeded 30,000 devices.”

In October 2023, the Iraqi Council of Ministers issued several executive measures related to the electronic payment system and electronic points of sale (POS), and said at the time in a statement that they "aim to enhance the use of electronic payment in Iraq and facilitate financial and commercial operations." link

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Tishwash: Al-Sudani confirms Iraq's openness to partnership with all those wishing to contribute to the development road project

Prime Minister Mohammed Shia al-Sudani stressed, on Saturday, the necessity of intensifying research and explanations regarding the Grand Faw Port and Iraq's Development Road projects and the opportunities they will provide, noting that these two projects are a basic gateway to economic growth in Iraq and the region, and an important pillar for expanding the non-oil economy.

This came during the dialogue seminar held in the capital, Baghdad, under the title (The Path to Development - Opportunities and Development), in the presence of an elite group of economic experts, investors, businessmen and media outlets, according to a statement by Al-Sudani's office, received by Shafaq News Agency.

Al-Sudani stressed that the quadripartite agreement between Iraq, Turkey, Qatar, and the UAE constitutes the axis of operating the development road, but the project is open to positive partnership with all those who wish to contribute to this international development effort, stressing that the global economy today has come to depend on the main corridors for trade, manufacturing, and integration, and the development road project will be an important axis of these international corridors.

He pointed to the industrial cities that will be established along the road, starting with the industrial city in Al-Faw, which will transform Iraq from a country landlocked in commercial and industrial routes to an open country, through its contribution to expanding Iraq's maritime effectiveness and raising the importance of its ports, most notably the Grand Faw Port.

The statement pointed out that the symposium included several axes related to the strategic development road project, including the economic and developmental feasibility of the project, which constitutes one of the future paths of the Iraqi economy, and how Iraq will move through it to become a new major player in the international shipping and transport arena, in addition to the thousands of job opportunities the project will provide, mechanisms for developing partnerships with the private sector, and the challenges facing the partnership between the government and the private sector. link

Thank you MarkZ for all your time, and encouragement daily….. PDK

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: GM Everyone. Hope the weekend was a good break for you!

Member: Praying for some positive news this morning, boy do we need it.

Member: Good morning all!! Hopefully this is our week!!!!

MZ: It’s very possible this is our week…Lets see if all the hype is right

MZ: “ A parliamentary delegation to visit the Kurdistan region next week on the salaries of employees” This article came out before the weekend….so it’s this week…..This is one of the hiccups that is keeping HCL from passing. So they are in the Kurdish region supposedly working on this….what is supposedly one of the last hiccups with passing publically the HCL….Maybe?.....Finally? If we get the HCL we should get a new value on the dinar.

MZ: “Baghdad to host tomorrow the conference “Electronic push towards stability in Iraq” This is also a big story as we see more and more banks are open…..They will be using XRP to move large sums in and out with seamless transactions on their new platform. They are right now more technically advanced than any other middle eastern country. They have laid the groundwork for exchanging and the movement of dollars/dinars.

Member: F26 source “Eddie” reported on Saturday that the salaries in Kurdistan have started paying equal pay for the Kurds starting yesterday (Sunday) Iraq was celebrating the prophet Mohammed’s birthday on Sunday , so the rate change announcement was delayed.

MZ: The chatter from Iraq has been exceptional.

Member: Chatter chatter everywhere but not coin to clink!

Member: So no lower denominations on the streets yet?

MZ: There are no lower denominations on the streets yet. Seems to be rumors so far….but, they have been preparing and training all the bank staff on the new lower denominations. If they did not have any plans on putting the into circulation soon….they would not be giving them cut sheets…or pictures on the security features….They would not be training them yet.

Member: At least the RV will be before the end of the year-according to Sudani.

MZ: Right now it is still pretty quiet on the bond front…and private banking front. We heard a lot of rumors over the weekend on more bond movement including the 1924 German bonds. There is still a tremendous amount of anticipation for mid-week this week.

Member: Mike Bara keeps posting about bond holders and getting their money

Member: Jon Dowling did a short video on xrp winning their case and quickly would rise in price in quick succession and this will kick Iraq into gear to revalue.

Member: Mark, over the weekend some reports were made that Canada Walmarts would no longer be accepting u.S. dollars by Sept 23. It said because of new security on the dollars. Could this be true?

MZ: It would not surprise me because we are supposed to be getting new bills. But this is very interesting news.

Member: I just got off the phone with Walmart Brooks Alberta Canada. Absolutely true…no USD

Member: Saudi Arabia is buying oil with the Chinese yuan.

MZ: “Saudi’s have joined Asian countries in ditching their long term sensitivity to the gold price” Evidence suggests the Saudis have covertly bought 160 tons of gold from Switzerland since 2022. Pay attention to this one . Jaimie Dimon last week was warning us on bank runs and collapses….Goldman Sacs are telling their wealthy clients to get out of the markets and buy metals….is anybody paying attention?

MZ: And yes…Saudi Arabia is pushing more of its petro sales in yuan…and doing away with petro purchases in the US dollar.

MZ: Like Andy said…slowly, slowly…suddenly…..and the suddenly part is hitting.

MZ: And China is leaving the world bank….which means they have to have something else lined up because of their global ambitions.

Member: Mark…about a month ago you talked about how your contacts said your Dinar estimate was “way too low.” You were at like $3.70…so are we talking about $5? $7? $10?

MZ: All they are telling me is my estimates are way too low.

Member: (From Dinar Guru) Mnt Goat ...They don’t need any economic revival to put a fair market rate for the dinar back on FOREX. It is all a lie....They are “artificially” suppressing the rate of the dinar. When will this abuse of the dinar end? I believe this end is near...

MZ: That is dead, spot on accurate. They are suppressing the price of the dinar

MZ: When I finish this podcast I will be traveling back home today….. Zester will be handling this evenings podcast …Tonight they are launching the new Liberty Financial system….Zester thinks its important to be here…

Member: I wonder how does all of this World Liberty Financial stuff tie in to our RV related stuff...

Member: Do you think the end of the US Fiscal year plays into the timing of resetting to an asset backed economy

Member: Wooooot. Another week down, and we begin another. Not everyone is blessed to be given a chance to have the time to perfect plans for life post RV.

Member: Safe travels today Mark….and thanks for all you do…..

Member: Thank you MarkZ! See you tomorrow. Safe travels!!!

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

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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!

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Economist: The Path Of Development Will Pass Through 12 Iraqi Governorates And Will Move Iraq To Global Status

{Economic: Al-Furat News}The economic expert, Abdul Rahman Al-Sheikhli, confirmed that the development road will pass through 12 Iraqi governorates and will have great investment opportunities. Al-Sheikhli said {to Al-Furat News} that:

“The development path will move Iraq from a regional to a global situation in terms of trade, as it will pass through 12 Iraqi governorates and will have great investment opportunities.”

He added, "Thedevelopment road project will provide Iraq with great regional and international relations. It will also attract Iraqi manpower, and we are optimistic about it."

Al-Sheikhli continued, "The stability of the security situation reflects the extent of interest in the future and the increase in investment opportunities in the country," noting that "the economic system in Iraq has changed since 2005 to amarket system, and on this basis the system must be transformed fromarentier economyto aproductive one."

https://alforatnews.iq/news/خبير-اقتصادي-طريق-التنمية-سيمر-بـ12-محافظة-عراقية-وسينقل-العراق-الى-العالمية

Governor Of The Central Bank Of Iraq: We Have Come A Long Way In The Process Of Reforming The Banking Sector

TheCentral Bank of Iraqparticipated in the conference onelectronic paymenttowardsfinancial stabilityin Iraq, which washeld under the patronage of theIraqi Prime Minister, Mr. Muhammad Shiaa Al-Sudani, andorganized by theAssociation of Iraqi Private Banks, with wide participation of the parties concerned with electronic payment and the Iraqi banking sector.

His Excellency theGovernor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq,saidduring the first session of the conference that the digital transformationmovementin Iraq, especially the financial and economic part, constitutesa priorityfor the governmentand the Central Bank of Iraq and aimstoprovidethebest banking services, stressing that there is agreat movement to advancethedigital transformation, which represents the sector.

Banking and finance areamajor pillarof it. He noted that despite the challenges and obstacles that the country has faced in recent decades, the process ofdigital transformationis taking place quicklythrough the indicators available at the Central Bank, stressing that it is moving in the right direction.

The Governor stressed that there is a very important aspect of keeping up with developments and changes.

There isdirect communicationwith internal and external parties, which is at two levels. The firstincludescapacity buildingwithin thebanking sectorby providing competencies and various applications, as the Iraqi staff is characterized by adaptation and development, and the second iscooperation.

TheInternational Bankand theCentral Bank of Iraqhave broad and effective relationships withinternational financialandmonetary institutionsandbanks around the world.

His Excellency revealed theprocess ofreformingthebanking sector, especially the government sector, noting that ithas come a long wayand it is now possible to implement what was stated in theCentral Bank’s plan in thebanking reformprocess until the end of this year.

Regarding the experience ofdigital banks, His Excellency the Governor indicated that the developments and employing them in a direction that serves the public made us move towards digital banks in Iraq as it is a new experience in countries of the world, indicating that

Iraqwill be one of the countries that are progressing indigital banksas the number of requests for digital banks increases.

It reached 60-70 banks, and the bank will choose a limited number as afirst stage, in accordance with the applicable controls and conditions, and it will be subject to an evaluation stage by the Central Bank of Iraq. Central Bank of Iraq Media office September 14, 2024 uhttps://cbi.iq/news/view/2670

Economist: The Free Bloc Is Estimated At 70 Trillion Dinars And Can Be Invested Electronically

Information / Baghdad... Economist Dr. Safwan Qusay confirmed today, Sunday, the existence of about 70 trillion dinars of free monetary mass, pointing out the possibility of investing it through switching to the electronic system in financial transactions. Qusay told Al-Maalouma,

“Focusing on investing in financial inclusion is accompanied by many benefits, the most prominent of which is withdrawing the free monetary mass outside the banking system, which is estimated at about 70 trillion dinars, that is, an average of 2 million dinars for every Iraqi citizen.”

He added, "This amount could lead to an increase in banks' liquidity and increase their ability to grant grants through small and medium-sized income-generating projects or by increasing the capacity of long-term strategic investment financing."

He stated that"Iraqi banks have the qualifications to switch to the electronic system," noting that "the transition of the financial sector to the electronic system with credit cards will pave the way for attracting international investments and increasing confidence in the Iraqi economy."

https://almaalomah.me/news/76429/economy/خبير-اقتصادي:-الكتلة-الحرة-تقدر-بـ-70-تريليون-دينار-وبالامكا

Central Bank: Electronic Payment Systems Have Contributed To Enhancing Iraq’s Compliance With Anti-Money Laundering

Economy Iraq breaking Central Bank Electronic payment Compliance Anti-money laundering
Shafaq News/The Governor of the Central Bank of Iraq, Ali Al-Alaq, said on Saturday that the use ofelectronic payment systems and technologies usedin the banking sector has contributed toenhancing compliance in combating money launderingin the country.

These statements were made by Al-Alaq on the sidelines of his hosting of the conference on electronic payment towards financial stability in Iraq, which was held in the capital, Baghdad, and was attended by a Shafaq News Agency correspondent.

The Governor of the Central Bank said that the world's focus today is on implementing compliance rules in combating money laundering, and that the safety of banking operationsis the safety of
society, the
economy,
internaland
external banking relations, and others.

He stressed, "There is a great focus on measuring the extent of compliance in each of the operations.

Therefore, when we apply anything within the framework of electronic payment and its various tools and channels or elsewhere, the question comes:
What is the capacity of compliance and governance in these operations?" Al-Alaq pointed out that
“when the conversation is about electronic matters, the application iseasyandpossible, and therefore the

level ofcomplianceis much better than the usual traditional operations, and is even
fasterand moreaccurate, and
gives a complete detail of all operations.” He added,

"Today,in using personal cards,we have a complete and direct analysis of all transactions.

Where do they take place?

What type of operations take place?

Are they consistent with compliance standards, sources of funds, etc.?

In the process ofanalyzing data, it is possible to give usimportant resultsandredirect mattersin a way that does notrepresent... Any kind of fraud or hacking.”

https://shafaq.com/ar/اقتصـاد/البنك-المركزي-انظمة-الدفع-ال-لكتروني-ساهمت-بتعزيز-امتثال-العراق-بمكافحة-غسل-ال-موال

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