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Clare:  And finally.. 50 days after its approval.. the budget enters into force

8/5/2023  Baghdad –

The Parliamentary Finance Committee confirmed, today, Saturday, that the federal budget law will enter into force during the current week, pointing out that the budget instructions will be circulated to all ministries.

Committee member Thamer Dhiban Al-Hamdani said in a press statement, “The general federal budget for the first time is sent to the State Shura Council in order to scrutinize its items,” pointing out that “the budget will be implemented during the current week.”

He added, “The budget instructions will be circulated to all ministries, agencies and governorates, and the government will proceed to achieve its items according to a service and economic vision.”

He pointed out that “the regulatory authorities will start monitoring the mechanism for disbursing funds and projects according to a plan that had been prepared in advance to avoid wasting money.”  LINK

Clare:  Al-Sudani: Iraq seeks openness to cooperation and economic partnership with all countries

8/5/2023 Baghdad –

Prime Minister Muhammad Shia Al-Sudani affirmed today, Saturday, that Iraq seeks to open up to cooperation and economic partnership with all countries.

A statement by the prime minister’s media office stated that “the prime minister received the UK ambassador to Iraq, Stephen Hitchin, and discussed with him the overall public relations between the two friendly countries, and the most prominent ways to develop them in various fields, in a way that serves the interests of the Iraqi and British peoples.”

The Prime Minister referred to “Iraq’s endeavor towards openness to economic cooperation and partnership with all brotherly and friendly countries, and its support for stability and development efforts in the region.”
For his part, “the British ambassador welcomed the Iraqi government’s steps in the field of economic reform,” appreciating “Iraq’s efforts and their positive repercussions on the region and the challenges it faces.”   LINK

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Mnt Goat  This week I had an interesting conversation with my CBI contact in Iraq. I was told to expect yet another “official” rate change of the dinar from the 1320 rate. I was told the new measures were trying to get as close to 1000 rate as possible. I asked about a more specific number, but I could not get a commitment on the actual range. However, I was told that the measures to be taken in the coming weeks should move the dinar within this range.  [post 1 of 2….stay tuned]

Mnt Goat  What is the plan once this new rate range is met?  I was told that the CBI could then go ahead with the project to delete the zeros. We know that when this new rate is rolled out the CBI will then drop three zeros from the currency. It was my feeling that they are heading to around an 1166 from 1320 rate so we are not that far to go and these new measures should take them to the rate they need.[post 2 of 2]

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New BRICS Currency Boosts Gold & Destroys Dollar – Jim Rickards

By Greg Hunter

This brings us the new BRICS gold-weighted currency (Brazil, Russia, India, China, South Africa) that might be announced in the middle to the end of next month.

Rickards calls one unit of currency a “BRIC.”  This is a competitor to the U.S. dollar, but Rickards says, “It’s not a reserve currency. . . .I think it may be 8 grams of gold to one “BRIC” (currency), but I don’t know.

What I do know is it does not matter.  What does matter is they are going to anchor it to a weight of gold. . . . It’s NOT redeemable in gold, it is anchored to it. . . .

Let’s says a “BRIC” is worth one ounce of gold.  Today that is $1,970 per ounce, except the “BRIC” is NOT anchored to the dollar.  It is anchored to gold, which stands in the middle of this equation.

So, the dollar price of gold is going to be going up and down all the time, which means the dollar/“BRIC” exchange rate is going to be going up and down all the time.  They don’t have to defend the “BRIC.”  They have gold, but they don’t have to back it up with gold. . . . They actually don’t need any gold. . . .

If you have made your currency anchored to gold . . . do you want the price to go up or down?  You want the price of gold to go up because that means the “BRIC” is worth more dollars, and the dollar is crashing.

It’s a way to destroy the dollar.  You don’t need dollars and you don’t need gold.  You just need to be smart enough to anchor your currency to gold, and when dollar inflation starts to go up, your currency is going to be worth more because of how you pegged it, not to dollars, but how you pegged it to gold.”

Rickards goes on to say, “So, if I were a BRICS member, and I were Russia in particular, and I had this currency tied to gold, and I wanted my currency to be more valuable and your currency (U.S. dollar) less valuable, one of the ways to do that is mess with the supply chain and drive up the price of oil, gasoline, grain . . . which drives up pork prices and chicken prices, and the list goes on.  That’s one way to do it.”

Read full article and video here:  https://usawatchdog.com/new-brics-currency-boosts-gold-destroys-dollar-jim-rickards/

ALERT! GRAND CANYON GOLD! Billions of Ounces READY to SAVE AMERICA! (excerpt from GC Gold Debate)

Bix Weir:  8-5-2023

The above is part of a discussion on the massive amount of gold along the banks of the Colorado River that currently sits waiting for the USA to Transition to a Gold Standard!

You can listen to the entire interview here: Bix Weir & Steve St. Angelo: Secret Stores of Gold & Free Markets

Bix Weir & Steve St. Angelo: Secret Stores of Gold, Free Markets, and the Energy Cliff https://www.youtube.com/watch?v=AeNRTGFGqV4&t=0s

https://www.youtube.com/watch?v=ki2_nS1XKm4