KTFA – More News, Rumors and Opinions Friday Afternoon 10-13-2023


Clare:  The Minister of Oil discusses with “Gazprom” the development of the oil and energy industry in Iraq


Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani met in Russia with Alexander Dyukov, Chairman of the Board of Directors of Gazprom Neft, and a number of company officials, in the presence of the Russian Ambassador to Iraq, Elbrus Kotrachev.

The Iraqi Oil Ministry said in a statement on Friday that the prospects for bilateral cooperation were discussed during the meeting

Ways to develop joint projects in a way that contributes to the development of the oil and energy industry in Iraq and serves common interests.

This meeting comes on the sidelines of the official visit by the Deputy Prime Minister for Energy Affairs and Minister of Oil to the Republic of Russia, according to the statement.   LINK

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

Militia Man  Al Sudani was in Russia…one of the things he said is they’re going to be doing business between the Iraqi dinar and the Russian ruble in commercial dealings…

Frank26  [Iraq boots-on-the-ground report]  FIREFLY: The television said the dinar will be replacing the dollar and the auctions will come to an end, then the CBI can control the exchange rate totally and we will be no black market anymore…The television says the Federal Reserve is still in control of the financial budgets but expects this to end in two weeks...



Tishwash:  New features in the dollar file soon… Parliament Finance discusses the crisis with all Iraqi banks

The Parliamentary Finance Committee confirmed today, Wednesday, that next week, bank directors and the governor of the Central Bank will be hosted to discuss the dollar crisis. Committee member Mustafa Al-Karaawi said in a statement to Al-Mutalaa Agency, “The Parliamentary Finance Committee intends to host the Governor of the Central Bank and bank directors to discuss the dollar file and the crisis caused by its rise.”

Al-Karaawi added, “The hosting will include discussing the reasons for non-compliance with the reform packages and the measures taken earlier to control the dollar exchange rate.” He pointed out, “The features of the new plans to control the dollar file will be determined after hosting those involved in this matter.”  link


Tishwash:  Deputy expects the dollar to decline within a few days

 The representative of the State of Law coalition, Arif Al-Hamami, expected today, Friday, that the exchange rate of the US dollar against the Iraqi dinar will decrease during the next few days.

Yesterday, Thursday, the dollar prices were recorded at the Al-Kifah and Al-Harithiya stock exchanges, 160,400 dinars for 100 dollars, according to Shafaq News Agency correspondent, while the selling price in the exchange shops in the local markets in Baghdad reached 161,500 Iraqi dinars, while the purchase amounted to 159,500 dinars for every 100 dollars.

As for Erbil, the selling price of the dollar in banking shops was 160,400 dinars, compared to 100 dollars, and the purchase price was 160,300 dinars, compared to 100 dollars.

Al-Hamami said in an interview with Shafaq News Agency, “The State of Law bloc seeks in all ways and urges the government to take the necessary measures to reduce the exchange rate of the dollar, because of its direct impact on the people, especially the poor and middle classes.”

Al-Hamami confirmed that “there are ongoing communications with the government, the Central Bank, the Prime Minister’s Office, and the Parliamentary Finance Committee in this regard.”

He added, “Government measures are continuing to reduce the dollar, including preventing smuggling outlets and opening outlets to sell the dollar at airports, but there are external circumstances that put pressure on the government, and the global situation also has an impact on the status of the dollar in Iraq.”

He explained, “Previously, the dollar rose more than the current price and then fell again, so we hope that the dollar exchange rate will decrease during the next few days.”  link

Lyn Alden: De-Dolarization on the Horizon | Gold, Dollar, Reserve Currency, Multi-Polar

Investor News:  10-13-2023

Lyn Alden run an investment research service for both retail and institutional investors at LynAlden.com. Her focus is on fundamental investing with a global macro overlay, with a specialization in currency differentials and equity valuations.


Warning: The Stock Market Crash Is Coming…

Atlantis Report:   10-13-2023

The Alarms are going off in the stock market. There are echoes of the 1987 Crash. The one that sent shockwaves through to all financial markets.

 As the Black Monday unfolded, the Prices Skyrocketed, fortunes evaporated, and panic gripped the investors. We’re now seeing unprecedented parallels with the previous crash with similar challenges coming our way.

 It includes a high market volatility with rapid price fluctuations and uncertainty.

The price swings are becoming bigger and more frequent. The frequency of intraday swings of the S and P 500 has been extremely elevated. We are also seeing an unparalleled volatility in Treasury bond markets in October 2023.

The share market’s strength in the current year despite the slowing effects of higher interest rates is a combination that feels awfully similar to the Black Monday.

 So, Will history repeat itself? Well, It’s a question that lingers, a specter that refuses to be ignored.