Ross » September 27th, 2021
One of the most potentially far-reaching trends in the financial landscape right now is the imminent roll-out of Central Bank Digital Currencies (CBDCs). CBDCs will be issued by central banks and will be legal tender.
Many CBDCs that are being researched and developed employ Distributed Ledger Technology (DLT), with the recording of transactions on a blockchain. CBDCs will be tied to user identities and Digital IDs, and straight off the bat they allow for total surveillance by the State. Agustín Carstens general manager of the BIS, where he chillingly said: “We don’t know who’s using a $100 bill today and we don’t know who’s using a 1,000 peso bill today. (Implying they would in the future)
With the BIS is Basel Switzerland as the conductor and orchestrator, it’s not surprising that central bank governors and country heads are now singing from the same song sheet, the song being ‘private digital currencies bad, central bank digital currencies good’.
Central Banks can thus influence and control the behavior of the recipients of this centralized digital cash, as well as exclude those who they want to penalize or who don’t comply with the State’s rules or parameters.
Although central banks will claim that they are introducing CBDCs for reasons such as improving payments efficiency, boosting financial inclusion for the unbanked and tackling illicit transactions, their real motivations, as always, are for surveillance and control.
Surveillance of a population via complete visibility into financial transaction flow and user identities, and centralized control of the money supply within a cashless financial system. (Welcome to the New World Order of 1984)
And you thought banks monitoring transactions above $600 was bad…
Don961 » September 27th, 2021
Monday 27 September 2021 Mustafa Mohamed Ibrahim
There is talk at the present time, whether in the academic, professional or market circles, that the exchange rate will return to what it was, i.e. to 1200 dinars per dollar, after the end of the elections period or after the approval of the budget for the year 2022 by the next Legislative Council (Parliament). However, these propaganda have two impacts on the economic situation in the country.
First, the citizen will be greatly affected when this news is promoted through his income and how his money will be used in the future, so waiting is the decision taken by Kiss.
The second is the economic stagnation that occurs in the market as a result of such news, the goals of which are known to most citizens, especially about two weeks away from holding the parliamentary elections, after which the issue of the exchange rate is closed in a Final manner.
The budget for the year 2022, which is in the corridors of the Ministry of Finance, initially, so far, confirms that the exchange rate is 1450 dinars per dollar, which indicates that there is complete independence of monetary policy, which means that monetary policy continues to achieve its development goals to control the market, and that any amendment In the exchange rate again and in a close time, it will lead to an unfavorable economic situation its aftermath.
Despite all this, pressure continues on the Central Bank of Iraq and continues to bear public financial lapses, and this is based on the continuation of the economic crises of this country, which has not stabilized and improved economically since a year 2003.
The first objective of monetary policy is to achieve exchange rate stability, and this is what monetary policy achieved during the previous and current periods, in order to stabilize the market and maximize foreign reserves.
The monetary policy turned to development goals through the housing initiative and support the health sector in light of the global epidemic as well as supporting developments and technologies Electronic banking work through the financial inclusion program, as well as financial and banking services provided to the customer to complete financial transactions as soon as possible …Maybe.
In conclusion, the only determinant and controller of the exchange rate remains monetary policy, because it is the supreme goal of the Central Bank of Iraq, which achieves price stability in the market. Personal, and does not want to reform the economic situation in the future, which is awaited by future generations, in an economically prosperous Iraq that achieves the goals of sustainable development through the modern banking industry and keeps pace with global technological developments that characterize international banks. LIN
Samson » September 27th, 2021
Months .. Iraq is on a date with the most important technological event
27th September, 2021
Today, Monday, the Iraqi Ministry of Communications revealed the latest developments regarding the completion of the project to establish the Iraqi satellite, while it indicated the presence of local and international competition by major companies.
Ministry spokesman, Raad al-Mashhadani, told the National News Center that “after the announcement of the Iraqi tender by the Ministry of Communications, we began receiving dozens of offers submitted by major foreign, Arab and even local companies to establish the Iraqi satellite project.”
And he indicated that “the General Company for Communication and Informatics has become its mission to collect bids, efficiency and expertise that these companies submit through (CV), which carries efficiency, experience and development,” noting that “the Ministry of Communications gave these companies 180 days to submit bids and advanced specifications related to the establishment of the Iraqi satellite, with a view to directing it. LINK
Expectations of a rise in oil prices from 90-100 dollars a barrel
Expectations indicate that global demand for oil will return in early 2022 to levels before the outbreak of the new Corona virus, while Goldman Sachs estimated that its price will rise to between 90 and 100 dollars per barrel.
Today, Monday, oil producers and traders expected that global fuel demand would return to pre-Covid-19 levels by early next year, with the economy ridding itself of the consequences of the pandemic, but the excess refining capacity will likely pressure those expectations. Sector leaders said that despite the continued increase in cases of the disease in many markets, which affected the recovery of demand for some refining products, such as jet fuel, consumption trends for gasoline and diesel indicated higher growth, according to Reuters.
These statements were made at the 2021 Platts Petroleum Asia-Pacific Conference, which is being held in a hybrid form this year, as it includes both real and virtual participants. “We’ve seen refining margins recover as demand recovers,” said Eugene Leung, president of BP Singapore and chief executive of BP’s trading and shipping arm in Asia, the Pacific and the Middle East. of production lines,” according to Reuters. “Most likely, the excess refining capacity will reduce to some degree those margins,” he said in a pre-recorded speech to the conference.
The head of Hess Corp, an American oil and gas producer, said that the company expects global demand to return to pre-pandemic levels, which were 100 million barrels per day, by the end of this year or early 2022.
The IEA also forecast a strong recovery from the fourth quarter, citing “strong pent-up demand and continued progress in vaccination campaigns” to prevent COVID-19. And it expected that the average global demand for oil in 2021 will reach 96.1 million barrels per day and 99.4 million barrels per day in 2022, compared to recording 90.0 million barrels per day in 2020. The Organization of the Petroleum Exporting Countries (OPEC) expected average demand in the fourth quarter of this year to reach 99.70 million barrels per day.
For its part, Goldman Sachs raised its forecast for the price of Brent crude by the end of the year to $90 a barrel, from $80 currently, due to the recovery of fuel demand at a faster rate than expected from the repercussions of the spread of the mutated delta from the Corona virus and the impact of Hurricane Ida on global supplies. Brent futures approached three-year highs last week as global production disruptions prompted companies to withdraw large amounts of their crude stocks.
Crude was traded at $79.19 a barrel at 0619 GMT, while the price of US West Texas Intermediate crude was $75.08 a barrel. “We have long had a positive outlook for oil prices, but the supply-demand deficit is currently larger than our expectations with global demand rebounding from the effect of a delta shift faster than our previous forecast and with global supply continuing at lower levels than our previous forecast,” Goldman Sachs said in a note dated September 26. “.
Earlier this month, “OPEC” and its allies, “OPEC +”, agreed to stick to a decision taken in July to gradually undo production cuts. Goldman Sachs said that the damage caused by Hurricane Ida to supplies erased the impact of the increase in “OPEC +” production, and that production of non-shale oil was still disappointing.
Regarding its forecasts for 2022, the bank reduced its average forecast for the second and fourth quarters to $80 from $85 a barrel, taking into account the possibility of a US-Iran nuclear deal by April.
Source: Dinar Recaps
Frank26 » September 27th, 2021
Here’s some interesting stuff from Eddie today…
TV saying news that the main objective of the 2022 budget is to pay all debt inside and outside of Iraq pay all debt off then Saying the budget is still not complete and is being worked on and then they are talking about the 400 billion going to the farmers payments is coming any day now finance guy speaking on the farmers payments…..
Then something interesting happened…
Family do you remember two months ago the United Nations criticizing Iraq for humanitarian reasons which was a bunch of lies. Then do you remember last week the United Nations coming out and saying that Iraq is about to become a leader in the Middle East….
Well it turns out that everybody knows what Iraq was about to do…. the problem is nobody knows when they are going to do it…
But besides the United Nations we now have an American news network that is also trying to tell the rest of the world what everyone knows already….
Now watch this from Eddie about an hour later this came in…
News saying president Saleh on interview with CNN talking about how Iraq will be a stable force with full sovereignty in the Arab world saying with construction, new infrastructure Iraq will rebound as leader in region then CBI offering two new financial bonds today for investment….
To which I told Eddie: Everybody knows what Iraq is about to do and when the United Nations bragged about Iraq being a leader in the Middle East last week it’s very encouraging now to see an American news outlet like CNN interviewing Saleh and saying that Iraq is about to become a leader in the middle east… saying that Iraq is a full sovereign country now well isn’t that amazing that everybody knows what we have been sharing since the beginning of this year……
Eddie is sending the link Eddie says it’s CNN American TV we should see it.
Spokesman for Kazami on tv talking about exchange rate and saying it must take time due to economic conditions and stability talked about the previous rate and it even referred to 2006 and 2008 but was saying it take time…..
Eddie He is correct it does take time and it was called the RV the re-calculations of the exchange rate and that was done a long time ago and that’s why they talk to you instead about the new exchange rate and the new currency that is soon to come out…
That’s all for now family but I want to ask you a question because what I will share with you in the next two days will be better understood with the following…….Iraq and the United States of America share the same financial fiscal year …………… therefore they share the same financial position….. God bless you all and stay in constant prayer because Holy Father loves to hear from us…..FRANK26
VIDEO FROM FRANK OF THE INTERVIEW: https://youtu.be/31DpXQIsXr8?t=1
THE UNITED STATES OF AMERICA & IRAQ ARE MIRROR IMAGES IN THEIR FINANCIAL CRISES. WHAT WE MEAN BY THAT IS, THAT IRAQ IS ON A FISCAL CALENDAR AND IT WOULD BEHOOVE THEM TO RELEASE THE NEW EXCHANGE RATE AND NSCN’S (new small currency notes) BY THE 30TH OF SEPTEMBER BECAUSE THAT IS THE END OF THE FISCAL YEAR OR THEY WILL DAMAGE THEIR REFORMS IF THEY DO NOT.
WITH THAT SAID….. I FIND IT INTERESTING THAT THIS COINCIDENCE IS SO CONVINCING AND TELLING CONSIDERING THE DEBT CEILING OF THE UNITED STATES OF AMERICA THAT MUST BE RAISED BY THE SAME 30TH OF SEPTEMBER BECAUSE BOTH IRAQ AND THE UNITED STATES OF AMERICA ON OCTOBER 1ST WILL NEED FINANCIAL POWER THAT ONLY THEIR CONSITUTION CAN PRODUCE………..FRANK26
WHY DID I SHARE TODAY ABOUT THE FINANCIAL CALENDARS OF IRAQ AND USA? ……BECAUSE THE GOP JUST BLOCKED THE DEBT LIMIT HIKE ON GOVERNMENT FUNDING ……………………. LOL ….. HEY biden ……………….GOD’S WATCHING YOU …………….. SMILE…..F26
GOP blocks debt limit hike, government funding
BY JORDAIN CARNEY – 09/27/21 06:38 PM EDT
Senate Republicans on Monday evening blocked a measure to fund the government and suspend the debt ceiling, carrying through on their threat to not deliver votes for a Democratic measure to raise the government’s borrowing limit.
The vote tally was 48-50. Sixty votes were needed to advance the measure.
No Republicans voted for the legislation.
The setback is the latest in a slow-motion brawl over how to fund the government and deal with the debt ceiling, which kicked back in on Aug. 1 with the Treasury Department using “extraordinary measures” since then to keep the government solvent.
Congress has until the end of Thursday to pass a government funding bill to avoid a shutdown the following day. The deadline for needing to deal with the country’s borrowing limit is less definite. Treasury Secretary Janet Yellen warned congressional leadership they might need to take action as soon as next month.
Democratic leaders haven’t unveiled what their next step will be, but they are vowing to prevent a shutdown on their watch. In order to deliver on that promise, they’ll need Republican cooperation to speed up a government funding bill.
Senate Majority Leader Charles Schumer (D-N.Y.) initially voted to start debate but switched his vote — a procedural move that allows him to easily bring the measure back up for consideration.
“I changed my vote from yes to no in order to reserve the option of additional action on the House-passed legislation. Keeping the government open and preventing a default is vital to our country’s future and we’ll be taking further action to prevent this from happening this week,” Schumer said.
If they punt the debt fight for now, they have options on funding the government, either sticking with the Dec. 3 end date or going with a bill to try to line it up with the potential “x” date in the coming weeks when Congress will have to address the debt ceiling.
“Well, I don’t want to shut down the government,” said Sen. Dick Durbin (D-Ill.), while noting Schumer has the final say on strategy.
A spokesman for Speaker Nancy Pelosi (D-Calif.) didn’t respond to a request for comment, but Pelosi told reporters late last week that “we will keep our government open by Sept. 30, which is our date, and continue the conversation about the debt ceiling, but not for long.”
Republicans have warned for months, including just hours before Monday’s vote, that they won’t help Democrats raise or suspend the debt ceiling. Democrats voted with Republicans during the Trump administration to suspend the debt ceiling as part of larger funding packages.
“For more than two months now Senate Republicans have been completely clear about how this process will play out. So let me make it abundantly clear one more time, we will support a clean continuing resolution that will prevent a government shutdown. …We will not provide Republican votes for raising the debt ceiling,” said Senate Minority Leader Mitch McConnell (R-Ky.).
McConnell and other GOP senators tried to bring up a short-term funding bill without the debt hike but Democrats blocked the attempt.
Democrats, meanwhile, tried to ramp up pressure on Republicans, warning that by shooting down the House-passed bill they are pushing the country closer to a default. Though the United States government has never defaulted, a similar standoff in 2011 resulted in S&P stripping the United States of its longtime AAA credit rating.
Schumer called the GOP position “unhinged,” arguing that there was a choice between “preserving our full faith and credit or vote in favor of an unprecedented default.”
They are “deliberately sabotaging our country’s ability to pay the bills and likely causing the country’s first-ever default in American history,” Schumer said.
Sixty-four House Democrats, including Majority Leader Steny Hoyer (Md.), sent a letter to McConnell on Monday arguing that Republicans are risking the country’s economic recovery, after it took a massive hit last year when businesses closed during coronavirus restrictions.
“Holding the debt limit hostage … is a dangerous, illogical, and irresponsible way to express that concern,” the Democratic lawmakers wrote.
But that’s done little to move Republicans, who are trying to force Democrats to raise the debt ceiling on their own through the $3.5 trillion spending package that they can pass without any GOP support.
McConnell, speaking on the Senate floor, noted that Senate Democrats hadn’t voted for raising the debt ceiling during the George W. Bush administration when Republicans controlled both chambers and the White House.
But Democrats didn’t filibuster that debt ceiling hike, meaning Republicans were able to raise it on their own with a simple majority. GOP leadership has acknowledged that they have conservative members who are filibustering the government funding-debt bill, forcing Democrats to seek the higher target.
Republicans see a political advantage to forcing Democrats to raise the debt ceiling on their own through reconciliation: Doing so forces Democrats to raise the debt to a certain number, instead of doing a suspension through a certain date. The move would likely be fodder for campaign ads against vulnerable Democrats in the 2022 midterm elections.
Republicans also hope that adding the debt fight to the reconciliation bill will make it harder for Democrats to pass the $3.5 trillion package, where they are already facing internal pushback over both the scope and the details of the sweeping bill.
Democrats could amend the budget resolution to try to include the debt limit, though there’s no guarantee that it will line up with the spending bill. They’ve been reluctant to put that option on the table, pushing instead for a debt vote that is bipartisan.
The U.S. is on track to default on the national debt between Oct. 15 and Nov. 4 if Congress is unable to raise the federal debt ceiling, according to a forecast released Friday by the Bipartisan Policy Center.
Durbin said he expected Congress would need to act in a “matter of days” but didn’t endorse using reconciliation.
“I wouldn’t jump into any approach,” Durbin said, adding that “Schumer might have a better approach.”
Updated at 6:52 p.m.
Source: Dinar Recaps
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