TNT – More News, Rumors and Opinions Thursday PM 1-11-2024

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CandyKisses: A surplus of more than 10 trillion. How did Iraq end the 2023 budget without a deficit?-Urgent

Baghdad Today – Baghdad

Today, Thursday (January 10, 2024), the Parliamentary Finance Committee confirmed that the year 2023 did not witness any financial deficit as proven and estimated in the budget law.

 Committee member Jamal Kojar told Baghdad Today that “the 2023 budget law did not witness any financial deficit, due to the cessation of disbursement of funds for projects in the provinces, by order of the Prime Minister to prevent the exploitation of those funds and projects by advertising elections during the last local elections.”

“The funds of the projects that were not disbursed during the past year will be transferred to the 2024 budget, and we are waiting for the schedule of disbursements in order to see and vote on them, so far we do not know what the budget will include in terms of projects and disbursements,” Koger said.

The total revenues of the Iraqi state until November 2023 amounted to more than 121 trillion dinars, while expenditures amounted to more than 110 trillion dinars, which means a surplus of more than 10 trillion dinars, according to the Iraqi Ministry of Finance.

Tishwash:  Tokyo: The Baghdad International Fair returns to the forefront and we enjoy friendly relations with Iraq

 The General Company for Exhibitions and Commercial Services confirmed today, Thursday, that Japan’s participation in the Baghdad Fair sessions has an economic and fundamental weight, while the Chargé d’Affairs of the Japanese Embassy in Iraq, Masimoto Keniji, indicated that the Baghdad Fair is returning to the forefront.

Director General of the General Company for Exhibitions and Commercial Services, Mustafa Al-Ani, said in his speech during the Japanese National Day celebration: “We congratulate the friendly country of Japan, the government and people, on the occasion of the Japanese National Day, and we wish them continued progress and prosperity.”

He continued, “Based on the depth of the distinguished economic and trade relations between Iraq and Japan, as the two countries have a close relationship over many decades with the economic and technical cooperation agreement signed between the two governments in 1944,” noting “the efforts to sustain and strengthen these relations.”

He pointed out that “Japan’s participation in the ongoing Baghdad International Fair sessions in recent years has great economic and fundamental weight due to its global economic power, being the third largest economy in the world, and possessing an advanced and sophisticated vision and technology in various fields, in addition to the Iraqi consumer’s confidence in Japanese goods.” “For its strength and sobriety, the reputation of Japanese companies, and its transparency in business dealings.”

He continued, “The Iraqi people look with admiration at Japan’s pioneering experience in dealing with the devastating effects of World War II, and look forward to benefiting from this experience in the construction and reconstruction process.”

He expressed his “thanks for the efforts made by those in charge of the Japanese pavilion in their participation in the current session of the Baghdad International Fair, and his aspiration to increase economic activities and events between the two countries and to strengthen economic and trade relations through the serious and actual presence of Japanese companies in Iraq.”

In turn, the Chargé d’Affairs of the Japanese Embassy in Iraq, Masimoto Keniji, confirmed, in a speech during the celebration, that “the Baghdad International Fair is returning to the forefront, especially with the participation of many countries and companies in this session.”

He added, “Japanese-Iraqi economic relations enjoy a friendly relationship and witnessed a trade boom in the seventies, and after 2003, economic activities and relations returned,” noting that “Japan provided much assistance in the southern regions and in several fields.”

He pointed out that “Iraq has a rich history and Mesopotamian civilization, and they have many potentials represented by rich resources in addition to humanity with a young majority, in addition to its good relations with countries,” explaining that “the Baghdad International Fair is an important link, as about 18 participated in this session.” Japanese company.

He expressed his hope “for the development of Iraqi-Japanese relations in all fields,” explaining that “the Japanese embassy receives many cultural activities.”  link

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

Frank26   These institutions [WTO etc] want Iraq to join them because they know Iraq is about to go into a float state.  Let’s look for 1 to 1200, 1 to 1,000, 1 to 1.  Let’s look for a change that is dramatic enough for it to be allowed to be released into the international theater.  Within the next 5 days I’m very curious to see what the exchange rate will be after the 15th.  Very curious to see if they’re going to leave it at at penny stocks or are we improving?

Militia Man  The oil & gas law is a very important and is considered to be integral to the citizens needs and the economic development of the country. They stop short of telling us what came of the oil & gas law today. Why? …One reason would be that there is exchange rate sensitivity with respect to the law…An exchange rate to be one that is stronger than the dollar  (Per Al-Sudani) will help largely in that regard. So, yesterday they were focusing on the importance of this law and with urgency. A very good sign!!!

What Happens When The Banks Go Bust? | Todd “Bubba” Horwitz

Liberty and Finance:  1-10-2024

The banks are too over leveraged, says Todd “Bubba” Horwitz.

“You cannot borrow your way out of debt. The more you have to borrow, the more leverage you are taking on,” he says, “and eventually that leverage has to bust.”

He discusses what he expects will happen if the banks go bust and how it may impact the depositor.

INTERVIEW TIMELINE:

0:00 Intro

1:09 Banking system

 2:58 Let the banks fail

4:54 Commercial real estate

6:52 Jobs market

10:22 National debt

11:45 Presidential election

12:50 Rate cuts?

 14:11 Market crash

 15:51 Gold & silver

18:18 Bubba Trading

18:34 Last thoughts