“Smooth Transition” – Tues. PM KTFA Thoughts, News w/ Frank26, MilitiaMan 9-28-21



Samson » September 28th, 2021

Brent crude jumps above $80 a barrel for the first time since 2018

28th September, 2021

The price of Brent crude jumped, on Tuesday, above $ 80 for the first time in nearly three years, amid expectations of rising demand and concerns about supplies as the world slowly emerges from the epidemic crisis

Brent crude rose 0.8 percent in morning Asian trading to $80.19, its highest level since October 2018, according to AFP

West Texas Intermediate crude also rose 0.9 percent to $76.07

Global supplies are tight due to the rapid recovery in fuel demand from the Delta outbreak and Hurricane Ida’s damage to US production

Members of the Organization of the Petroleum Exporting Countries “OPEC” and their allies, the group known as OPEC +, are facing difficulties in increasing production as the lack of investment continues or maintenance work is delayed due to the pandemic   LINK

Parliamentary Economy presents a proposal after the rise in oil prices

28th September, 2021

The Parliamentary Committee on Economy and Investment confirmed, on Tuesday, that the financial abundance obtained by the public treasury as a result of the increase in oil prices during more than a year with the continued rise in oil prices globally must be classified in renaissance investment projects for infrastructure, calling on the next government to reconsider the exchange rate of the dollar after the absence of the dollar. cash crisis

Committee member Intisar Ali said, “The financial abundance obtained by the public treasury as a result of the rise in oil prices has reached more than 34 billion dollars during the current year, according to preliminary data issued by specialized financial authorities

She added, “The increase in financial abundance is still continuing, especially as oil prices continued to rise with expectations of continuing to rise to a level of more than $80 during the current year, and this means that the treasury will get more financial abundance

She called on the next government to “classify the financial abundance for investment projects, improve infrastructure and support the private sector, and not classify it to the gates of waste and unproductive and profitable spending,” calling on the next government to “reconsider the dollar exchange rate after the monetary crisis has passed

It is noteworthy that the results of deliberations in the stock exchanges showed that the price of a barrel of crude oil of the “Brent” brand for November delivery exceeded $80 for the first time since October 23, 2018   LINK

Source: Dinar Recaps

Samson » September 28th, 2021

Post 111:   After The Oil Price Hike, Alia Nassif Calls For A Reduction In The Dollar Exchange Rate

28th September, 2021

Representative Alia Nassif called on the Ministry of Finance to reduce the exchange rate of the dollar after the price of a barrel of oil exceeded eighty dollars, indicating that it is not fair for the poor to pay the price of economic crises, whether they are caused by corruption or the lack of appropriate plans to deal with crises.

Nassif said today: “The price of a barrel of oil has exceeded eighty dollars, while the dollar exchange rate is still burdening the Iraqi citizen who pays the price of financial corruption and the absence of appropriate plans to confront economic crises such as the crisis of the previous drop in oil prices and the country’s dependence on oil revenues only,”

Indicating: The working class is the most affected by the rise in the exchange rate of the dollar, because its purchasing power is now unable to cope with the rise in the prices of food commodities and basic materials.”

She stressed “the necessity for the Ministry of Finance to reduce the exchange rate of the dollar against the dinar and return it as it was in the past, because there is no need to continue with the high exchange rate and to avoid its negative repercussions on all groups of the people.”    LINK

MilitiaMan » September 28th, 2021

The representative  of the Ministry of Finance is telling us there is a reason that a rate change is expected to go back to a prior era. 1166 is not it nor is 1182 nor is 1460 going to cut the mustard.

They are all program rate centric and harmed the citizens. They are not international, sovereign nor freely traded exchange rates globally. The next move we may see is a digitized one that will coincide with a need to make change down to the fil if need be.

All to be for the citizens benefit!! imo  Watch what they do..

They are telling us they even now have contracts for mobile payments.. Digital ones.. imo.  All new systems will require a new internationally traded currency with value enough to need small denominations.

Timing is so very perfect.. imo..

A smooth transition may be seamless in the very near future. imo ~ MM

Frank26 » September 28th, 2021





An economist calls for the revival of the experiment of oil-gold speculation in Iraq

09/27/2021 21:08:55

The economic expert, Riad Al Marsoumi, called on Monday to revive the experience of speculating oil with gold in the country.

Al-Marsoumi told Al-Furat News that “there is an old Iraqi experience in the last century, through a specialized committee in the Central Bank of Iraq, which carries out the process of trading and economic speculation in gold.” He pointed out, “The possibility of this committee to benefit from fluctuations in gold prices, especially since gold and oil have a direct relationship, that is, the higher the oil price, the higher the gold price.”

Al-Marsoumi considered this field “profitable. The economy can benefit from the rise in gold prices, especially since it has become an economic safe haven, after changing the exchange rate of the dollar, which is commensurate with gold in a military relationship, and there are Iraqi cadres in the Central Bank who worked in this regard.”

Experts and specialists stressed that the rise in gold prices has a strong relationship with energy and oil prices, on the grounds that the price of oil has a relationship with the productivity of most commodities because it represents a part of the cost components of any commodity, whether transportation, production or others, and when any changes in its prices occur, this affects the economy The local commodity by making changes in the prices of local commodities, whether the change is up or down. Gold prices rose in Iraq, in trading this evening, Monday, despite the decline in the prices of the precious metal globally. And the price of a gram of 24 carat gold, during evening trading in Iraqi gold shops, was about 82,445 dinars ($56.49).

A gram of 21 karat gold amounted to about 72,141 dinars ($49.43). While the price of a gram of 18 karat gold in Iraq was 61835 dinars ($42.37). As for economic gold prices in Iraq, the price of a gram of 14 karat gold scored about 48,093 dinars ($ 32.95), and the price of a gram of 12 karat gold scored about 41223 dinars ($ 28.24).   LINK

MilitiaMan » September 28th, 2021

This is not surprising at all that they are talking about real money and commodities in which they have much of in both. Both will support the value of their currency which too is going to be a valuable commodity.

Their Bonds paying 6% – 7% respectfully may very well be the change that set the stage for all of us. Telling us they will not change the rate for four years. They will not change it again once they change back to the previous era.

One that will require them to not change the rate again because of the new exchange rate will require stability, security and sovereignty. All of which President Salih spoke about at the UN and on CNN news..

Iraq is not being quiet about what they are doing.

The last post #111  (see above) shows that they say they are going to do something, then they show us they are doing those things. The digitization of the country has been and is underway.

I expect to see them show us the 2022 budget 10/01/2021, as they have not yet exposed the 2019 FMLA – 2021 Budget yet, and the Judiciary was to have a decision on that matter on 09/23/2021 and have yet to do so. 

IF the Training Meetings are over with the Cadres, it is show time.. imo.. ~ MM

Source: Dinar Recaps


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