More News, Rumors and Opinions Thursday PM 5-23-2024

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Clare:  Sudanese calls on the private industrial sector to invest in raw materials available in Iraq

5/23/2024

Tuesday, Prime Minister Muhammad Shiaa Al-Sudani called on the Iraqi private industrial sector to invest in the raw materials available in the country.

This came during the launch, in Najaf Governorate, today, of the executive works on the Iraqi Diyar Glass Factory project.

The project is the first to be implemented in accordance with the sovereign guarantees approved in the budget, and in cooperation between the Trade Bank of Iraq (TBI) and the German Export Bank. It also represents the most important forms of cooperation between Iraq and Germany, the foundations of which were laid during His Excellency’s visit to the German capital, Berlin.

Al-Sudani stated that this factory is being implemented in an industrial city by an investor who is responsible for providing all services. The industrial city is also preparing to embrace industrialists and provide land and services, which is a feature that we aspire to be implemented in all governorates.

He pointed to the new project, which is the first to produce glass, with a capacity of 800 tons per day, which means 25% of the local market’s need. The factory will rely on silica available in Iraq, stressing the availability of many raw materials that have not been invested. He also directed the necessity of implementation according to the plan and schedule. Timeline.

The Prime Minister affirmed the government’s support for the private sector, and the provision of guarantees for all priority projects, especially the housing and construction sector, which represents a large demand for construction materials, indicating the country’s need to triple the existing factories for coverage.

Al-Sudani called on the serious private sector to invest in this important opportunity, as the government continues to remove obstacles and bureaucracy, as this path will provide real job opportunities, and larger industries will settle in this city and other industrial cities.  LINK

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The Big Bopper:  Hi KTFA Family, Does this represent the first project to start from the 2024 budget schedules? IMO, it sure reads like that….. on Wednesday’s CC, Frank asked if we could produce an article that showed the new sovereign guarenteed contracts at work from the 2024 budget schedules, if im not mistaken, this looks like the first!!

 Am I wrong on this, my opinion mistaken? Please anyone that has an opinion or can clarify this articles meaning, other than the very clear and obvious words in it, we should see something soom? Thanks Clare for this!   Thank You kindly, The Big Bopper

 Clare:  IT’S A GREAT ARTICLE…VERY TELLING. SUDANI IS GETTING IT DONE! HE IS A GREAT LEADER FOR IRAQ IMO

The project is the first to be implemented in accordance with the sovereign guarantees approved in the budget,

THAT’S EXACTLY WHAT IT SAYS!

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Clare:  Al-Sudani: We will not let the projects stop in any governorate, and their completion will change the economic and social reality

5/23/2024

Prime Minister Muhammad Shiaa Al-Sudani stressed today, Thursday, that we will not let the projects stop in any governorate, indicating that their completion will change the economic and social reality of the governorate.

The media office of the Prime Minister stated, in a statement received by {Al-Furat News}, that “Al-Sudani chaired, in the Najaf Governorate building, a meeting of directors and officials of service departments and formations, during which the reality of services in the governorate was reviewed, and the most prominent problems and obstacles facing the progress of implementation of service projects.” “.

He stressed that “the government kept in mind the citizen’s entitlements when preparing the government program, and made the necessary basic services among the most important priorities, especially the lagging and stalled infrastructure projects related to the health, education, and other sectors, due to the conditions of war, terrorism, and instability.”

He explained that “there is pressure on services and infrastructure in all sectors in the governorate, for various reasons, the most important of which is the delegations of visitors to Najaf Al-Ashraf.”

The Prime Minister said during the meeting: “We look at services starting from the perspective of lagging projects, some of which date back to 2008, such as the treatment plant project,” pointing out that “the continuation of lagging projects causes collapses and changes in prices that burden the state.”

He added, “The federal government and local governments form one team,” noting that “the voter for local governments is awaiting the results of his participation in the elections.”

He continued: “Our visit aims to develop solutions to the problems, and we do not want to repeat the same excuses after a month or two,” adding: “We are following up on the smallest details and developing solutions, and we have allocated financial allocations, but we are governed by a budget and allocations, and the ability to spend these allocations.”

He added: “We will not let the projects stop in any governorate, and the completion of the projects will change the economic and social reality of the governorate,” adding: “Visitors to the Old City come from all over the world, and the level of services in the governorate is measured in light of what is available in this area of ​​the city.”

He pointed out that “investing in Najaf Governorate is necessary to develop the industrial city and complete it in various aspects,” calling on businessmen to “invest sovereign guarantees to establish agricultural and industrial projects.”

He stated that “the indicators of the agricultural season confirm the growth in production, and 5 trillion dinars have been allocated to pay the dues of farmers and farmers, and Iraq is on the path to achieving self-sufficiency in basic crops.”  LINK

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

Frank26  A second set of books is a normal business action.  Many companies, many firms for financial projections, for balances, for audit purposes, for changes whatever it may be, run a second set of books.  The second set of books is simple business practice.  It’s not illegal unless you’re doing it illegally under the table…This second set of books is not hidden…they [Iraq] expose it [their second second set of books] to the right people, IMF, World Bank, US Treasury…

Paulette  Many feel that if Iraq changes the rate, they will have tons of money just as they that hold IQD hopefully will.  The difference between “dinar holders” and the government of Iraq is that we hold IQD and they hold USD.  Where I think Iraq sees a windfall is if they pass the budget after the CBI ‘reveals” the RD/RV to the world and thereafter RI’s.  For example, if the CBI changes the rate to 1.30…and then the COM and Parliament pass the change to the budget tables, a 130 billion USD value budget will be 100 billion IQD.  If they then RI after to 2.60USD, that same 100 billion IQD will have the purchasing power of 260 billion USD…deficit solved…

Secret Banking Crisis Looms; What the Fed Doesn’t Want You to Know – Insider Nomi Prins

Daniela Cambone:  5-22-2024

“The Fed needs to understand its boundaries and stop pretending it’s like inflation Superman,” says Dr. Nomi Prins, geopolitical finance expert and bestselling author.

She explains that the Fed has no ability to impact real inflation — the increased prices that individuals and companies face daily. She also discusses how the Fed is operating in conjunction with big banks.

Banks remit their excess earnings to the Fed, which then passes those earnings to the Treasury Department. However, because the banks haven’t reported enough of their excess earnings, the Fed is operating at a loss.

She warns that if these banks collapse, we can expect more quantitative easing and a return to zero interest rates.

CHAPTERS:

00:00 Fed cut rates

3:00 Five Flashpoints for Q-3

6:19 Credit cards debt

9:11 U.S.-China tariffs

12:11 Geopolitics moves

13:32 Inflation

15:29 Commodity prices

 19:20 Banking crisis