“Things Lining up” – Thurs. AM-PM KTFA Thoughts, News w/ MilitiaMan 6-30-22



Samson » June 30th, 2022

US Treasury freezes $330 billion in Russian assets

29th June, 2022

The US Treasury announced, on Wednesday, the freezing of Russian assets worth $330 billion, since the start of the war in Ukraine.

In this context, the President of the Russian Central Bank, Elvira Nabiullina, hinted that the financial regulator (the Russian Central) may continue to cut the key interest rate, but of course the situation here is very volatile.

Russian Finance Minister Antonsiluanov said that the ministries of Finance and Economic Development are ready to lose part of the budget funds for the year 2022 to stabilize the ruble exchange rate.

The Russian currency is witnessing an increase against the American and European currencies, and during today’s trading, the dollar was trading below the level of 51 rubles, for the first time since May 2015.  LINK


Russia is looking for buyers of gold to counter US sanctions

29th June, 2022

Russia will look to export gold to other countries after the United States banned Russian gold imports, the official TASS news agency reported, citing Russian Deputy Foreign Minister Sergei Ryabkov as saying on Wednesday.

The United States on Tuesday imposed sanctions on more than 100 targets in Russia and banned new imports of Russian gold, fulfilling commitments made this week by Group of Seven leaders to punish Russia for its invasion of Ukraine.

The British government said last Sunday that it, along with the United States, Japan and Canada, would ban any new imports of Russian gold as part of measures aimed at punishing Moscow.   LINK

Source: Dinar Recaps

Samson » June 30th, 2022


The Russian Central Bank Introduces A New Banknote

30th June, 2022

The Russian Central Bank offered, on Thursday, a new 100-ruble banknote, and the regulator announced that the new banknote would be put into circulation starting today (June 30, 2022).

The front side of the new banknote contains the Spasskaya Tower, the main tower of the eastern wall of the Kremlin, also known as the clock tower, while the reverse contains the Rzhevsky monument to the Soviet soldier.

The new banknotes are treated with special materials for added protection, and contain a QR code that takes the user to the central bank’s website.  LINK

Disruption of official working hours in Kurdistan for a week

30th June, 2022

Today, Thursday, the Kurdistan Regional Government announced the suspension of official working hours for a whole week.

And the regional government stated in a statement received (Baghdad today) that it had “instructed to suspend official working hours for a week on the occasion of the blessed Eid al-Adha.”

And she indicated that “the holiday starts from Saturday, July 9, until Sunday, July 17.”  LINK


The Governor of the Central Bank of Iraq participates in the (Access to Finance) conference

29th June, 2022

The Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhief, confirmed that the Central Bank continues to perform its roles prescribed by law in monitoring the financial and banking sector.

His Excellency said Wednesday, that the Central Bank is pushing the financial and banking sector to greater horizons. His Excellency added in his speech at the “Access to Finance” conference, which was held at the Al-Rasheed Hotel, with the participation of the public and private sectors:

The Central Bank of Iraq has initiated a package of measures to save the economy and economic institutions from a certain abyss, after a state of despair and panic prevailed among the dealers in the economy.  And those dealing with state institutions, after the reluctance that occurred in the performance of their obligations with them.

He added: The Central Bank made access to finance possible when it launched a number of qualitative and courageous initiatives that enabled our society to feel safe through our initiatives that covered different and important sectors. His Excellency pointed out that the Central Bank of Iraq is not kind to these measures and initiatives, and finds itself only in the position it should be in.

Governor clarified that the goal of enhancing financial inclusion and securing access to financial and banking services to the community was one of our priorities that we are working on with short, medium and long-term plans, and that access to finance is no longer a dream intertwined with red tape, corrupt and closed-minded hands, but rather has become a national path in the work of the banking sector and institutions Microfinance, and its defense has become a priority for the Central Bank and the banking sector alike.

Central Bank of Iraq 
Media Office 
29 – June – 2022    LINK

Al-Fateh: The Countdown To Forming A Government Begins After Eid

30th June, 2022


A member of the Al-Fateh Alliance, Ghazanfar al-Batekh, confirmed, on Thursday, that the coordination framework negotiations with the rest of the political blocs are continuing, and the formation of the government will take place after the blessed Eid al-Adha.

Al-Batekh said in a statement to “Al-Maalouma”, that “the atmosphere is positive and there are no differences for the coordination framework with the rest of the political blocs,” noting that “the initial agreement emphasizes the speedy formation of The government is in one basket, represented by the President of the Republic, the Prime Minister, the cabinet, and then the government curriculum.

He added, “Resolving the position of the president of the republic among the Kurdish parties is the key to the next government, which needs a quorum of 220 deputies to pass the candidate,” stressing that “the next government will be a government of services in all respects, especially the economic one.”

The coordinating framework forces became the most numerous parliamentary bloc in the House of Representatives, after obtaining about 40 new seats, taking advantage of the resignation of members of the Sadrist bloc, which gives it the upper hand in the file of government formation and the distribution of positions.  LINK

The “Great China Fund” .. Beijing is establishing a bank to promote its currency, so will the “international monetary” compete or overthrow the throne of the dollar?

29th June, 2022

China’s announcement of the establishment of an international monetary fund with a number of Asian countries, in what can be called the Great China Fund, or the Chinese Monetary Fund, raises questions about the purpose of this step, and whether it establishes an end to the dominance of the dollar on world markets, or does it represent a competitor to the International Monetary Fund, which is dominated by Western countries led by America.

China’s plan to establish a system to accumulate reserves in yuan (renminbi) initially includes the Chinese central bank, known as the People’s Bank of China (PBOC), the Bank of Indonesia, the Central Bank of Malaysia, the Monetary Authority of Hong Kong, the Monetary Authority of Singapore, and the Central Bank of Chile. 

The Chinese Monetary Fund could pave the way for the Chinese currency to play a key role in the Asia-Pacific region, and it is believed that in the longer term, this Chinese Monetary Fund could be a competitor or alternative to the International Monetary Fund, which is dominated by the dollar, according to the American Business Insider website. 

The plan comes amid growing concern in Beijing about the dominance of the US dollar, with global investors searching for safe havens, while the US set out to try to tame high inflation by raising interest rates.


How do member states benefit from the fund?

Each country will contribute 15 billion yuan, or about $2.2 billion, to the RMBLA liquidity system. “When liquidity is needed, participating central banks will not only be able to withdraw their contributions, but will also be able to obtain additional financing through a secured liquidity window” to counter market volatility, the Chinese central bank said.

These funds will be stored in the Bank for International Settlements, (BIS) is an international financial institution owned by central banks, which “promotes international monetary and financial cooperation, and acts as the bank of the central banks”, particularly with regard to the passing and settlement of banking transactions, and is headquartered in Basel, Switzerland, and has offices Representative in Hong Kong and Mexico City.

How will the Chinese Monetary Fund compete with its international counterpart?

With the announcement of the new fund’s ability to lend to its founders more than their contributions to it, it will make it similar or a competitor to the International Monetary Fund, which is dominated by the United States, and the major Western countries.

China’s monetary fund could attract more members to join in the future, said Ding Shuang, chief China economist at Standard Chartered Bank. CMF participants will also have access to additional financing through a secured liquidity window, which allows participating central banks to borrow additional using their existing holdings as collateral.

The People’s Bank of China said the arrangement would help meet reasonable international demand for the yuan and contribute to regional financial security.

This is how Beijing is trying to gradually reduce the dominance of the dollar

The announcement highlighted China’s central bank’s efforts to build infrastructure, which will help loosen the dollar’s dominance of global trade.

China’s plan to establish a yuan liquidity reserve pool with the Bank for International Settlements (BIS), could help boost the international use of the Chinese currency.


The Chinese authorities have taken a flexible approach, seeking to expand the yuan’s dealings internationally, through their fourteenth five-year plan for the period from 2021-2025, describing the process of the international use of the yuan as a matter that depends on the choice of the market and gradually.

China has for years sought to increase the global use of the yuan, signing bilateral currency swap deals worth more than 3 trillion yuan with more than 40 countries, including 400 billion yuan each for Hong Kong and South Korea, and 350 billion yuan each with the Bank of England and the Central Bank. The European Union, 300 billion yuan with Singapore, and 150 billion yuan with Russia.

What are the reasons for the establishment of the Chinese Monetary Fund?

While tension over Hong Kong’s national security law has sparked heated debates about a possible financial separation between China and the United States in 2020, the recent Western sanctions on Moscow after its invasion of Ukraine have served as a special wake-up call for Beijing, especially the decision to exclude major Russian banks from the SWIFT messaging banking system. and freezing the assets of the Russian Central Bank with Western countries and their Asian allies.

It is noteworthy that Russian President Vladimir Putin told the BRICS Business Forum last week that Russia and China are working on developing a new reserve currency with other BRICS countries (this grouping includes countries with the fastest economic growth in the world, most of which are large non-Western economies).

Meanwhile, government data indicated that China’s foreign exchange reserves – the largest in the world – rose last May, for the first time in 2022, by $80.6 billion to reach $3.13 trillion.

Everyone is afraid of America exploiting the dollar for its own benefit

In addition to political factors, and the fear of being subjected to a blockade similar to the Western blockade against Russia, China and many countries of the world are concerned about the dollar’s situation, which in recent weeks has reached its highest level in 20 years.

The sharp rise in the value of the dollar as the US Federal Reserve continues to raise interest rates in an unprecedented and aggressive manner, for nearly 30 years, is posing challenges to currencies and central banks around the world.

The whole world, even America’s allies, feel that Washington is exploiting the dollar’s status as a major reserve and trading currency, in a way that only serves its economic goals, as the US Federal Reserve accelerated the tightening of monetary regulations, and launched the process of shrinking the balance sheet in June, which led to fears of launching a recession wave. hypertrophied all over the world. Against this backdrop, China is touting that the launch of the renminbi liquidity arrangement is of great importance to defuse potential risks, a China Daily report said.


Yuan expands despite Washington’s nose

Recently, the Chinese renminbi has been used more often in trade settlements, international investment and finance, and foreign exchange transactions, and more central banks have included it in their foreign exchange reserve pools. Market players have shown an increasing willingness to use it, China Daily reported.

The yuan’s share in global payments, forex transactions, and reserve assets is still far from competing with the US dollar. The yuan accounted for 2.14% of global payments, in April 2022, well below the 41.81% led by the US dollar.

In terms of its share of global foreign exchange reserves, the yuan ranked fifth at the end of last year, with a share of 2.79%, compared to 58.5% for the US dollar and 20.6% for the euro. But many analysts believe that the Russian-Ukrainian war and market turmoil in the wake of massive interest rate increases by the US Federal Reserve may give it an opportunity for the yuan to strengthen its position.

Sanctions have damaged the global financial system and will accelerate the de-dollarization move,” China’s investment bank Citic Securities said, while a Washington Post report said Beijing’s plan to internationalize the yuan could also get a boost through the Belt and Road Initiative, particularly within Asia.

The start of the yuan competition against the dollar will be from Asia

“The yuan will initially play the role of the base currency in Asia.”  That appears to be China’s initial plan, understood by an article by Deng Zhijie, head of the Research Center of China’s State Administration of Foreign Exchange (SAFE), in the June issue of Modern Bankers.

But the Chinese official said internationalizing the yuan would be a complex and long-term task. “In the future, we should pay more attention to economic ties and strengthen regional monetary and financial cooperation,” he said.

The yuan’s weight in the IMF’s Special Drawing Rights basket will be raised to 12.28% on August 1, 2022, an increase of 1.36 percentage points over the 2016 assessment.

Does China want to find an immediate alternative to the dollar or the IMF?


The current financial and monetary system is led by America, through the dollar, the International Monetary Fund and the World Bank, and it and Western countries control the Swift system of banking exchange and the role of major Western financial stock exchanges, in addition to America’s role as the largest consumer in the world. Most likely, China does not want an immediate replacement for this existing system.

As for Beijing, it is the biggest beneficiary of the current financial system, as the dollar being the main trading currency makes it expensive, and enables China to reduce the price of its currency, which increases the competitiveness of its exports to be sold heavily to the West, especially the United States, and the latter compensates for its trade deficit with the flow of cash on its securities from The money of China, Japan, and sometimes the Gulf states, benefiting from being the center of the global financial system.

But China mostly wants to find a gradual alternative to this system for two reasons, the first is that in the long run it cannot continue the export-driven development model at the expense of domestic consumption, because it is based on low wages in the country, which cannot be sustained for reasons of potential popular discontent that may cause it.

Beijing has already begun to turn to advanced industries based on knowledge and technology, not low wages, and the continuation of this model is based on the continued opening of the United States and Western countries to Chinese products, which is not guaranteed.

The second reason is that China fears that it will be subjected to any form of deprivation or Western sanctions, similar to what happened with Russia, although this will be more difficult for the West than the Russian case due to the size of the Chinese economy and the West’s dependence on Chinese supply chains. Hence, China wants to create a financial system parallel to the current financial system led by the United States, so that it participates in the two systems. He is starting to mature.

This system will consist of its currency, the yuan, which is becoming increasingly important, as it is the largest exporter in the world, which makes it a desirable currency in international trade. With the establishment of the proposed Chinese Monetary Fund, there will be mechanisms for trading and lending the yuan, similar to the mechanisms that are dominated by the West such as the IMF.

Mostly this means that there will be two parallel global financial systems (just as there will likely be two parallel systems in all other areas of life), one led by America and the other by China. Any country can participate in both systems simultaneously, including Beijing itself.

But the problem is that the Chinese financial system, even if it is parallel or reserve, encourages financial separation between America and China more than before, a separation that will not only harm the global economy, including the economies of the two countries, but will also sever the bonds of the trade relationship between America and China, In a way that may encourage a dangerous escalation of competition between them, given that this close commercial relationship is still the first brake on the confrontation between the two giants.  LINK

Source: Dinar Recaps

Samson » June 30th, 2022

The emergency support law enters into force .. Will the government challenge it?

30th June, 2022

Today, Thursday, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, announced the entry into force of the Emergency Support Law, after more than fifteen days had passed since its enactment.

Saleh told (Baghdad Today), “The law stipulates that there is a group of deputies requesting the legislation of a law within the parliament that does not have a financial aspect.”

He added, “The law has that aspect, but the government will not object or challenge it in the Federal Court because it needs its paragraphs and is linked to the payment of dues to ministries and citizens, such as contracts and others.”

On the eighth of this month, the Iraqi parliament voted on the law on emergency support for food security as a whole, to enter its legislative recess.

The vote was attended by 273 deputies, headed by the Speaker of the Council, Muhammad al-Halbousi.


MilitiaMan » June 30th, 2022

Interesting they tell us today that the ESFL made entry into force. One day after a publishing day for the gazette.. Banks are closed are now today.. Interesting too is there is a new platform for non reporting companies for the ISX.

Saturday is another publish day for the gazette. The list of nondisclosure stocks will increase in value at varying levels of %s. This new platform is scheduled for this Sunday.

Not totally a huge thing in of it self or is it? They didn’t mention the ISX reporting companies. If the non reporting are going to increase in value and be on the new platform, would it not be likely that the fully reporting stocks do same and interlink with the NASAQ?

Would not a similar and or superior move be warranted and on the same day? I don’t know, however, with a new exchange rate to come, there is likely to be increased values for the ISX reporting companies as well. Something that would likely need to be held more close to the chest.

I see this article as being an indicator..  Possibly a very telling one. We shall see soon enough on both angles…. imo ~ MM

Samson » June 30th, 2022

The Iraq Stock Exchange launches a platform for trading shares of undisclosed companies

29th June, 2022

The Securities Commission and the Iraq Stock Exchange announced the launch of a platform for trading shares of undisclosed joint stock companies, while identifying the companies that can trade on the platform

The authority’s media stated, in a statement, that “the authority decided to create and launch (a platform for trading the shares of undisclosed joint stock companies) Undisclosed Comp as of Sunday’s session 3/7/2022,” noting that “the rate of change in the session will be 5%, up and down from the closing price.” The share price will be left with a 50% change from the last closing price of the share in the first trading session on the platform

He added, “Trading on this platform will be for companies that the Securities Commission had previously decided to suspend from trading due to failure to provide the required disclosures, which are: Electronic Industries Company, Light Industries Company, Al Badia Public Transport Company, Modern Construction Materials Industry Company, the Iraqi Company for Land Transport and a Bank Company. Babel, Al-Batak for Financial Investments, the Modern Company for Animal Production, the North Bank Company, the Al-Khair Financial Investment Company, the Iraqi Company for the Transport of Oil Products, and any company that the Commission decides in the future to include in trading on this platform from the listed companies

He called on the above companies to “commit to provide the minimum disclosure (a report on the company’s situation from the date of submitting the last financial statements to date / lawsuits / seizure and mortgage / any material events affecting the company’s activity) and the experience and mechanisms will be evaluated after three months from the start of the application and take advantage of the notes indicated on it according to an evaluation and efficiency examination form

The Securities Commission and the Iraq Stock Exchange also decided to “increase the price change percentage from 10% to 15% as of 3/7/2022 for the companies listed therein in order to activate trading in the regular trading platform

The Commission stressed that “the potential shareholder and investor – bears the responsibility of buying and selling shares on the shares listed on the undisclosed companies platform – based on his investment decisions and that the brokerage companies include a note in the purchase and sale authorization and in the investor’s agreement that includes the phrase that the shareholder and investor are informed of the above and acknowledges his responsibility any risks that appear later as a result of the lack of information and data – lack of disclosure – for the companies participating in this platform

He pointed out that the procedures were “based on Legislative Order No. 74 of 2004 and the instructions and rules issued by the Securities Commission and the Iraq Stock Exchange and in order to protect the rights of shareholders in joint stock companies listed on the Iraq Stock Exchange, attract potential investors, and activate trading in securities  LINK

Al-Kazemi’s Advisor : Two main factors contributed to the failure to submit the final accounts 10 years ago

30th June, 2022

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, clarified today, Thursday, about presenting the final accounts of the current government, indicating that there are two main factors that contributed to the failure to approve the final accounts on a regular basis 10 years ago.

Saleh said in an interview with the “National News Center”, “The current government’s presentation of the final accounts requires the submission of final accounts that extend from the year 2015-2020, taking into account that the year 2020 there is no general budget, which requires the submission of a draft law called the current budget, which is a legal expression. For a final account and a budget at the same time, because revenues and expenditures are already realized.”

He added that “it must be realized that the final account of the state is reflected in the operations of applying the general budget in accordance with the legal regulations, regulations and financial instructions issued, to show the financial position of the state, because of the rights it has to collect, and the obligations it has to pay, as the balance of the final account shows the increase Or the decrease in the state’s assets or assets, which is embodied by the deficit in expenditures or the surplus in revenues during one fiscal year.

He continued: The governmental final account is one of the most important financial statements that the government prepares annually, based on the provisions of Article 34 of the effective Financial Management Law No. 6 of 2019 as amended and related to the financial statement, to clarify all actual expenditures and revenues for the ended fiscal year and the resulting actual surplus. Or a real impotence.

He stressed that “the legislative authority was not able to approve the final account after the year 2012 and until the present time, a decade has passed, and the financial position of the state is still unknown, its details.

In the failure to approve the final accounts on a regular basis for ten years, the first is the difficulty of settling the accumulated government advances, which reached a very high number and may be equivalent in terms of the amount to the expenses of a full fiscal year or more and lack supporting documents at a high rate, and the second: the presence of more than one fiscal year that was not available it has a general budget law. What requires legislating a law (a status quo budget), as we noted above, which is closer to the final account, especially for the years 2014 and 2020.”

Saleh considered that “the oversight task of the House of Representatives in this regard will be a little arduous in following up on the completion of the country’s final accounts for the years 2013-2021, but it will certainly be fruitful after passing the final account for the fiscal year 2013 and enacting a budget law for the current situation for the year 2014 so that the government can refer the rest of the government accounts sequentially only previous years.”   LINK

MilitiaMan » June 30th, 2022

When all is said and done they completed the last 10 years of accounts. They needed that to be done.. Now we look for the fruit of it all.. imo The colors will show in the ATMs.. Lets see what they show us next. ~ MM

Popeye7 » June 30th, 2022

Imo, thanks MM, and as you stated, things could be lining up this weekend… Middle of the year, 3 day weekend in the states, ISX new platform on the 3rd, salaries beginning to be paid electronically, and all of the talk of the ATM’s as well as the NSCN… It would seem to be the perfect opportunity to make a move on this… Time will tell, and God willing… Take care, and thanks for your insight, and taking the time to share…

DinarDiva1 » June 30th, 2022

Imo, thanks MM, and as you stated, things could be lining up this weekend… Middle of the year, 3 day weekend in the states, ISX new platform on the 3rd, salaries beginning to be paid electronically, and all of the talk of the ATM’s as well as the NSCN… It would seem to be the perfect opportunity to make a move on this… Time will tell, and God willing… Take care, and thanks for your insight, and taking the time to share…

MilitiaMan » June 30th, 2022

You all are very welcome. I am glad to be able to be here and help where I can.. Enjoy the holiday weekend and lets see wha they do next. imo ~ MM 

Source: Dinar Recaps


If you wish to contact the author of any reader submitted guest post, you can give us an email at and we’ll forward your request to the author.

All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.

Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.

Copyright © 2022 Dinar Chronicles



Please enter your comment!
Please enter your name here