Adviser to the Prime Minister: Accelerating the approval of the oil and gas law will establish two important matters

[screwball]

On 7/15/2023 at 11:04 PM, yota691 said:

Muhammad Salih, expected the issuance of important instructions to start implementing the tripartite budget law, within the next few days.

⏰

[yota691]

The financial advisor to the Prime Minister explains the implementation of the budget instructions after the government's appeals

• Time: 07/18/2023 10:27:22
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• Read: 1,560 times

  

{Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained the impact of the government's appeals against some articles of the financial budget law by implementing its instructions.

 

Saleh told {Euphrates News} agency: "Certainly delaying the implementation of the budget items has a number of effects on the economic situation, but there is an advantage in this budget that it is for three years, so the matter is remedied through sufficient flexibility on the executive side to fill the shortfall in the delay in approving it during the half the first of the year.”

He added, "The suspension of the implementation of the budget instructions is only in the articles in which the government submitted the appeal."

And the Federal Supreme Court had issued, on the 12th of this month, a state order regarding some articles of the Financial Budget Law, which included stopping the implementation of articles: ((28/ Fourth:

The Parliamentary Finance Committee expects that the government will submit new appeals to the budget, which were added by the House of Representatives, and which contain a financial side.

 

Raghad Daham

[yota691]

Government advisor: Iraq is in the safe zone regarding the debt issue and its impact on the economy

 17 hours ago

471

 

The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, revealed the total amount of money to be paid during the current decade of the Iraqi public debt.

 

Salih said in a press interview seen by “Takadam” that “scheduling the payment of the internal debt of Iraq is estimated at eight years, as the debts accumulated after the financial and security crisis in the year 2014, which was the period represented by the entry of the terrorist organization ISIS into several provinces,” noting that “the second crisis It was represented by the outbreak of the Corona virus in Iraq, which prompted the government to borrow from government banks.

 

Saleh added, "The total internal and external debt (to be paid during the current decade) constitutes 30% of the gross domestic product," noting that "the internationally accepted ratios are about 60% of the gross domestic product."

And that "Iraq is located in the very safe area regarding the issue of debt and the level of its burden on the national economy."

 

The Central Bank of Iraq had previously announced a rise in the volume of internal debt to about 70 trillion dinars, and an increase in the volume of foreign reserves to 113 billion dollars, while experts in the field of finance and economics warned of the danger of high rates of public debt.

[yota691]

Counselor Mazhar Saleh: Delaying the implementation of the budget items will affect the economic situation

 

July 18, 2023

Baghdad / Obelisk Al-Hadath: The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained the impact of the government's appeals against some articles of the financial budget law by implementing its instructions.

Saleh said, in a statement followed by the obelisk, that there is certainly a delay in the implementation of the implementation of the budget items, which have a number of effects on the economic situation, but there is an advantage in this budget that it is for three years, so the matter is remedied through sufficient flexibility on the executive side to fill the shortfall in the delay in its approval during the first half of the year. the year.

He added, that stopping the implementation of the budget instructions is only in the articles in which the government submitted the appeal.

And the Federal Supreme Court had issued, on the 12th of this month, a state order regarding some articles of the Financial Budget Law, which included stopping the implementation of articles: (28 / fourth: a - b), (57 / first - c) and (65 / second) and (70/Second), (71) and (75) of Law No. (13) for the year 2023 (the federal general budget of the Republic of Iraq for the fiscal years (2023-2024-2025) pending a decision on the constitutional lawsuit filed before this court to challenge its constitutionality, which is registered in Number (153). / Federal / 2023).

The Parliamentary Finance Committee expects that the government will submit new appeals to the budget, which were added by the House of Representatives, and which contain a financial side.

[yota691]

Advisor to the Prime Minister: Plans to increase the gross domestic product to 53% by the end of the current decade

• Time: 07/23/2023 12:33:27
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• Read: 754 times

  

{Economic: Al Furat News} Advisor to the Prime Minister, Mazhar Muhammad Salih, stated today, Sunday, that there are plans to increase the gross domestic product to 53% by the end of the current decade within the scope of activating the protection of the local product and guaranteeing the rights of consumers.

 

Saleh said to {Euphrates News}: “The Business Council in its new proposed form (which has a majority of market makers) affects enabling it to present its recommendations directly to the executive authority for approval, in a manner that contributes to the renaissance of the private sector and the development of its policies aimed at diversifying the gross domestic product from 37% currently to reach at the end of the current decade and in accordance with the national strategy for the advancement of the private sector to about 53% , within the scope of activating the protection of the local product, ensuring the rights of consumers, supporting the wheel of diversified investment for the national economy, and building a customs system sober.” 

 

He added: "This means giving a role to the private sector independently in drawing up its policies, and it itself guarantees the development of the work of market institutions in all their forms and with effective government support."

 

He continued, "The new private sector policies must be consistent with the decisions of the Business Council, with the policy of comprehensive economic development for our country as a single unit to achieve the social market system."

From: Raghad Dahham 

[yota691]

Advisor to the Sudanese: The official market for the dollar has the upper hand with the stability of the exchange rate

• Time: 08/02/2023 15:01:40
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• Read: 702 times

  

{Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that the official market for the dollar has gained the upper hand with the stability of the exchange rate.

And Mazhar Muhammad stated in a statement to {Euphrates News}, that "the issue of dealing with small businesses that were subject to long administrative and monopolistic bureaucratic chains previously was overcome after they were granted the freedom of organized and unrestricted import with high flexibility, in addition to breaking the rings of monopolistic trades that were It extends through the market to small traders, whether in financing or marketing.

He added, "The official or regular market, whether in the field of exchange or trade, has become a major hand in achieving price stability and returning to its natural atmosphere, which is a success recorded for economic policy."

It is noteworthy that the Sudanese Prime Minister, Muhammad Shia'a, stated that the dollar crisis is not a crisis, but rather a battle between the state that insists on completing the reform of the financial and banking system, and an affected group that is a group of speculators and smugglers, and we continue with determination to pursue speculators and smugglers of foreign currency.

Raghad Daham 

[yota691]

Appearance Fit: Budgeting instructions enhance revenue efficiency

Economical  2023/08/03

 

 

 Baghdad: Hussein Thagheb Al-Tamimi

Financial and economic experts described the delay in issuing budget instructions as a negative matter that affects all economic sectors, noting that the national labor market is waiting to be fed with the necessary funds to move business in the productive and service sectors.
At the same time, the advisor to the Prime Minister, Mazhar Muhammad Salih, believes that the instructions represent a road map for the implementation of the budget law, and that government agencies avoid problems of diligence in interpreting texts. Saleh said in a statement to "Al-Sabah": "The instructions for implementing the federal general budget for the years 2023-2025 are a map for the implementation of the draft law, as the executive authorities avoid the problems of jurisprudence in interpreting the text, especially since the provisions of the law may not be sufficient on their own."
He added, "The budget implementation instructions facilitate the disbursement or spending process in line with the state's financial discipline, whether operational or annual investment. These instructions also enhance the efficiency of revenue collection within the optimal investment."
For his part, researcher and academic Qasim Balshan Al-Tamimi told Al-Sabah that "the delay in issuing federal budget instructions has negative results, especially since the delay in approving the budget in itself was a problem. Today, not activating the budget after its approval is a serious matter that has clear and explicit effects on the scene."
He added, "In order to achieve a quantum leap in investment and revitalize services and reconstruction, the paragraphs and provisions of the tripartite budget must be activated on the ground," explaining that "reforms require revitalizing the private sector, which is still largely neglected."
Al-Tamimi continued, "If successive governments since 2003 had turned to the private sector as a vital and very important partner in revitalizing the country's economic reality, we would have witnessed radical and vital changes in the life of the citizen."
Economic expert Imad Al-Harish believes that "the federal general budget laws for previous years indicate clearly and explicitly that the Federal Minister of Finance must coordinate with the Federal Minister of Planning to issue the necessary instructions to facilitate the implementation of the provisions of the Federal General Budget Law of the Republic of Iraq, if approved." And he confirmed in a statement to "Al-Sabah" that "there is no justification for the delay that occurred by the Ministers of Finance and Planning," calling at the same time to "the need to expedite the completion of those instructions." The specialist in economic affairs, Hisham Khaled, explained that Iraq needs a high flow of funds paths that are available through the budget or investments, and as long as we are talking about the budget, the matter needs to reach its allocations to the labor market, which in turn addresses many problems that the country suffers from.
He added to "Al-Sabah" that "it is not easy for financial spending to take place in the country without the presence of instructions for the budget law that specify the frameworks and paths, so some are concerned as a result of the delay in issuing the instructions that a large segment is waiting for, as the budget instructions are supposed to be issued before this time." . He pointed out that "allocations for investment projects have a clear impact on activating the movement of the labor market on a large scale, as the delay in issuing instructions leads in all cases to a decrease in implementation rates, especially in the important sectors related to the life of the citizen, such as the oil and electricity sectors, so work must be done to raise the efficiency of implementation in These two sectors in particular, and the rest of the national economy in general.

[yota691]

Advisor to the Sudanese: The official market for the dollar has the upper hand with the stability of the exchange rate

• Time: 08/02/2023 15:01:40
•  
• Read: 1,560 times

  

{Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that the official market for the dollar has gained the upper hand with the stability of the exchange rate.

And Mazhar Muhammad stated in a statement to {Euphrates News}, that "the issue of dealing with small businesses that were subject to long administrative and monopolistic bureaucratic chains previously was overcome after they were granted the freedom of organized and unrestricted import with high flexibility, in addition to breaking the rings of monopolistic trades that were It extends through the market to small traders, whether in financing or marketing.

He added, "The official or regular market, whether in the field of exchange or trade, has become a major hand in achieving price stability and returning to its natural atmosphere, which is a success recorded for economic policy."

It is noteworthy that the Sudanese Prime Minister, Muhammad Shia'a, stated that the dollar crisis is not a crisis, but rather a battle between the state that insists on completing the reform of the financial and banking system, and an affected group that is a group of speculators and smugglers, and we continue with determination to pursue speculators and smugglers of foreign currency.

Raghad Daham 

[yota691]

Advisor to Al-Sudani: Positive economic prospects in Iraq until 2025

• Time: 08/08/2023 11:15:49
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• Read: 1,222 times

  

{Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, expected today, Tuesday, that the launch of the budget instructions will constitute a point of optimism for building economic forecasts until the end of the year 2025.

 

Saleh told {Euphrates News}, "The launch of the budget instructions means starting with investment spending on investment projects in the country, which constitutes a proactive point for the renaissance and stability of the business and labor market, and a point of optimism for building positive economic expectations on the launch of national development, which will continue until the end of the year 2025." 

 

From.. Raghad Dahham 

[yota691]

Sudanese advisor: the entry into force of the budget has a positive impact on the economic situation

2023-08-08 05:36

Shafaq News/ The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Tuesday, the positive impact of the economic situation after the entry into force of the budget law.

 

Saleh told Shafaq News agency, "The first positive thing with the entry into force of the budget law is the start of spending on investment projects in the country, which constitutes a proactive point for the renaissance and stability of the business and labor market, and a point of optimism to build positive economic expectations on the start of national development, which will continue until the end of the year." 2025".

 

He added, "This is according to the tripartite budget, as it is a medium-term financial plan for the advancement of the country's economy, especially in the investment aspect, which will allow the Iraq Fund for Development to work very effectively to achieve the goals of sustainable development and generate creative interaction with the private sector and the labor market, and this is why the entry into force of the budget law It will have a significant positive impact on the overall economic conditions in Iraq during the next stage."

[yota691]

Sudanese advisor: The country's financial situation indicates a high degree of stability
Yesterday, 21:39

 

Al-Ghad Press/Baghdad  
Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, ruled out a financial deficit during the current fiscal year 2023, stressing that the financial situation in the country indicates a high degree of stability .

 

Saleh said, in an interview with the official media, seen by "Al-Ghad Press", that "the federal budget for the years 2023-2024-2025 has taken into account sufficient precaution for fluctuations in annual budget revenues, specifically oil revenues, as the fiscal policy adopted a hypothetical or precautionary deficit that amounted to approximately 64 percent." trillion dinars .

 

He added, "The federal general budget indicated at the same time in its law a clear precautionary detail for the sources of financing that deficit as well, as its financing sources will be when necessary from the surpluses of the internal financial market, by dealing with bonds and treasury transfers issued by the government and bought by the banking system and the public from their financial resources." available in order to invest in those government securities and consider them excellent debt instruments .

 

He continued, "Despite the foregoing, we do not expect a deficit during the current fiscal year for two reasons: the first is the existence of a financial surplus of about 23 trillion dinars, and the second is that the cycle of oil assets is trending upward, as the average barrel of Brent oil touches 85 dollars, which means that there is growing global demand for oil .

 

And he added, "If the situation continues until the end of the current fiscal year, the country's financial situation indicates a high degree of stability in a positive way, warning at the same time the importance of imposing financial discipline in managing the state's public expenditures, as well as maximizing financial revenues according to the timing required to ensure their cash flows." In a reassuring and proper manner, to ensure the country's financial sustainability.

[yota691]

What does it mean to achieve Iraq's largest trade surplus? Government advisor answers

2023-09-04 08:14

 

Shafaq News/ The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, commented today, Monday, on Iraq achieving the largest trade surplus in 2022 over a period of ten years, and said that it achieves 3 main goals.

 

Today, Monday, a statistic conducted by the German company Statista, which specializes in market and consumer data, revealed that Iraq achieved the largest trade surplus for the past year 2022 over the past ten years.

 

Saleh explained to Shafaq News Agency, "The importance of the increase in the surplus in the current account comes in relation to the gross domestic product in its positive role in strengthening the means of economic stability represented by the stability of the general level of prices, which are the country's foreign reserves, which are a lever for stability and a tool in monetary policy to combat harmful inflationary activities." in order to ensure the purchasing power of cash incomes.

 

He added, "The high percentage of the surplus, in the current account of the balance of payments to the gross domestic product, provides the financing capacity towards achieving sustainability in investment spending, which is the basis for targeted economic growth without expanding external borrowing."

 

He pointed out that "the increase in the aforementioned surplus rate at the level of financial stability and balance is an important and major step towards achieving the so-called (fiscal discipline), which is based in its most important pillars on reducing external public debt and what requires a subsequent step required by fiscal policy in the field of imposing discipline, which is reducing the gap The deficit in the general budget and the movement towards a balanced budget, as reducing public debt and reducing the deficit are considered the most important pillars of financial discipline or what is called fiscal consolidation.

 

The financial and economic advisor to the Prime Minister concluded by saying, "The surplus proceeds in the current account of the balance of payments achieve three main goals, which are (price stability, stability, financial balance, and finally targeted economic growth)."

 

The trade balance indicates the differences in imports and exports of goods in the country during the year. If the value of its exports during a period exceeds the value of its imports, it is called a surplus in the trade balance. If the total value of imports exceeds the total value of exports, it is called a deficit in the trade balance.

 

According to the German company statista, Iraq achieved the highest trade surplus for goods in 2022 over the past ten years, as the surplus last year amounted to $53.54 billion, up by 64% from 2021, when the trade surplus for goods in that year reached $20.08 billion.

 

She explained that Iraq achieved a deficit in its trade balance for two years, the first in 2020, when the deficit amounted to 4.11 billion dollars, and the second in 2015, when the trade deficit amounted to 0.94 billion dollars.

 

And the report continued, while in 2019 the balance achieved a trade surplus amounting to 16.62 billion dollars, in 2018 the trade surplus reached 35.95 billion dollars, and the trade surplus in 2017 reached 15.1 billion dollars, indicating that the trade surplus in 2012 amounted to 35.39 billion dollars.

 

And Iraq had achieved during the past year (2022) financial revenues of more than 115 billion dollars from the export of crude oil, to be the highest in years, according to official figures announced by the Iraqi Ministry of Oil.

 

According to those figures, the daily export rate reached 3,320,000 barrels, which is a total of one billion, 211,800,000 barrels for a full year.

[yota691]

Budget deficit management is entering the testing phase

The first  09/13/2023

 

 

   Baghdad: Huda Al-Azzawi 

 

Prime Minister Muhammad Shiaa Al-Sudani’s statement about the difficulty of implementing the general tripartite budget issued by Law No. 13 of 2023 and the necessity of adhering to it the day before yesterday, Monday, raised various questions by specialists in economic and financial affairs regarding the possibility of changing the items of the tripartite budget, especially for the years 2024-2025, through Adding suggestions and items according to developments. 

 

Advisor to the Prime Minister for Financial and Economic Affairs, Dr. Mazhar Muhammad Saleh, stated in an interview with “Al-Sabah”: “The general budget for three years was built on a hypothetical deficit of 64 trillion dinars for each year.”

 

Pointing out, “The government will not face the problem of the deficit this year (2023) in light of the rise in oil prices and reaching a high level, and there is an abundance achieved this year of about 23 trillion dinars, in addition to the delay in the budget and some expenses that have not been achieved.”

Saleh pointed out, “If the price of oil per barrel reaches $70, then in the next two years a deficit of less than 130 trillion dinars will be achieved for the years 2024 and 2025. This is a large number, and it is what the Prime Minister indicated regarding the issue of managing the deficit.”

 

For his part, the rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, said in an interview with “Al-Sabah”: “The budget law is obligatory for the government to implement it from the beginning, but the difficulties that the government will face are the most prominent of the changes in oil prices, because Iraq is a rentier state and the budget depends to a large extent on On oil revenues, noting that non-oil revenues are not small, but all successive governments have been unable to control them.”

 

He stated, “The problem facing the government now and its signs began to become clear over the past few days: regarding the share of the Kurdistan region and the great disagreement in the process of calculating non-oil revenues in the region, as well as the interpretation of the provisions of the budget and the financial management law, in addition to the 50% of revenues that must be paid.” It goes to the federal government, and there is disagreement about defining or naming what federal revenues are, which need negotiations and explanations due to political interference in the work of the government, budget legislation, and the use of public money for electoral propaganda and political gain, and the numbers of social welfare that have begun to increase significantly and other categories that have burdened the operational budget. A huge burden, which exceeded 63 trillion dinars annually.”

 

Regarding the implementation of the investment budget, Al-Saffar asked: “Will the Prime Minister be able to address the rampant and expanding corruption in the process of implementing investment projects? Especially since there are more than 6,000 lagging projects, and all of this in light of the presence of a broad government program. Will the government be able to implement the investment budget?” Implement it?

 

He stressed, “The government will face major problems, but in the coming year it is possible to submit proposals to the budget, so the first year will be mandatory and the subsequent two years are subject to amendment according to the developments that appear and the government’s needs for funds, and it is possible to submit a complementary project proposal for the purpose of changing, adding and deleting items in the budget.” Based on the indicators that determine the structure of the general budget.”

 

Al-Saffar pointed out, “There is a problem that must be paid attention to, related to the central bank, which still does not control the dollar exchange rate, and the vast difference between the official price, which amounts to 1,300 dinars, and the parallel price, which reached 1,556 dinars, that is, 26 points more, and this is a problem.” It is significant that must be addressed, as the greater the difference, the government bears more burdens.”

 

Edited by: Muhammad Al-Ansari

[yota691]

Adviser to the Prime Minister: Accelerating the approval of the oil and gas law will establish two important matters

• Time: 09/28/2023 07:52:29
•  
• Read: 1,638 times

  

{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, stressed the importance of accelerating the approval of the draft oil and gas law.

 

Saleh said in a press statement, “Accelerating the adoption of the federal oil and gas project law in the House of Representatives as quickly as possible will establish a stable national road map for investment and production of the country’s primary sovereign resource, which is oil and gas.”

He explained that "this natural resource contributes directly to Iraq's gross domestic product at a direct rate of approximately 50 percent, and leaves an indirect impact on the total economic activity of our country at a rate of no less than 85 percent."

Saleh said, "Adopting a unified national oil policy, and achieving optimal investment and production in Iraq's oil area, starting from the southern fields up to the northern and regional fields, is an important and strategic matter in the matter of taking advantage of opportunity costs in the optimal and harmonious operation of the Iraqi oil policy currently."

Not to mention "achieving the best financial returns for the country that we all aspire to to finance building the Iraqi economy and the basics of sustainable development," according to Counselor Saleh.
The draft oil and gas law in Iraq available to Parliament stipulates that responsibility for managing the country's oil fields must be entrusted to a national oil company, and supervised by a federal council specialized in this subject.

For its part, the Kurdistan Oil Law indicates that the Iraqi government “has the right to participate in the management of fields discovered before 2005, but the fields discovered afterward belong to the regional government.”

The committee that was formed between Baghdad and Kurdistan to draft a draft oil and gas law includes “the Minister of Oil, the Minister of Natural Resources in the region, the Director General of SOMO Company, and the advanced staff in the Ministry of Oil, as well as the oil-producing governorates such as Basra, Dhi Qar, Maysan, and Kirkuk.”

The Prime Minister, Muhammad Shiaa Al-Sudani, said in early August that “the draft oil and gas law is one of the basic and important laws that represents a factor of strength and unity for Iraq, and it has been stuck for years, at a time when the country today is in dire need of its legislation and to benefit from this natural wealth.” In all fields and sectors, in addition to the contribution of the legislation to solving many outstanding problems.”

He explained, "There are governorates whose wealth has not been invested to date, which is considered negative for development endeavors in all their paths."

The dispute over the issue of oil has been a major source of tension between Baghdad and Erbil for years. Last year, the matter reached the judiciary, as Erbil believed that the central government was seeking to control the region’s wealth.

In February 2022, the Federal Court in Baghdad ordered the region to deliver oil produced on its lands to Baghdad, and to cancel contracts the region had signed with foreign companies.

The matter reached the point where the judiciary in Baghdad invalidated contracts with many foreign companies, especially American and Canadian companies.

After years of exporting oil alone via Turkey, it became the Kurdistan region’s control, as of late March 2023, with the decision of an international arbitration panel that gave Baghdad the right to fully manage Kurdistan’s oil.

As a result, exports from the region stopped.

A temporary agreement signed between Baghdad and Erbil in early April stipulates that Kurdistan oil sales will be made through the Iraqi Oil Marketing Company (SOMO), while revenues generated from the region’s fields will be deposited in a bank account with the Central Bank of Iraq or one of the banks approved by the Central Bank of Iraq. .

[yota691]

Saleh: Seasonal goods are in high demand and will stabilize over time

• Time: 09/28/2023 13:16:42
•  
• Read: 689 times

  

{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, attributed the rise in some seasonal commodities and goods to the demand for them and their subjection to demand and supply.

 

Saleh told Al-Furat News Agency: “These rises are temporary. There is a (seasonal) price phenomenon in all world economies, as some prices of school supplies rise before schools open their doors due to increased demand for them. Then the phenomenon disappears with the passage of days and prices return to their stability as before.” .

 

He added, "Even in the West, the prices of consumer goods before the New Year holidays, which witness an increase due to the holidays, fall immediately at the beginning of the new year due to the seasonal phenomenon in demand, which is a phenomenon of temporary price increases."

 

From.. Raghad Dahham

[Shedagal]

On 6/24/2023 at 8:47 AM, Shedagal said:

This is what Phil read - Coorslite 21 posted this awhile ago:

 

There will be a liquidity and credit crisis as banks and online payment systems are about to suffer a huge outage in Europe and the United States. There are already talks of a liquidity and credit crisis happening in inner circles. This is big.

 

Saturday- Banks and online payment systems will suffer an outage in Europe and the United States spreading worldwide. Talks of a Liquidity and credit crisis happening will spread rapidly.

 

Sunday- Customers will try to get money from banks but will be turned away. Talks of bank runs on twitter and facebook will be promptly banned. Late-Sunday night Euro-zone banks will suffer a liquidity issue and fail critical margin levels.

 

Monday 26th- Liquidity crisis contagion will spread to the United States. Financial instruments much like those used by Archegos will blow up across the entire financial sector. Bank of America, JP Morgan, and Goldman Sachs are rumoured to be insolvent along with others. The Super Rich will attempt to pull their money out of the banks only to be denied. Stock market will drop 20% and is closed for the day. Tether and other stable coins will fail causing crypto currencies to crash as they become illiquid. Short-Mid term is that crypto currencies will become worthless.

 

Tuesday- Eurozone total melt down. Bank deposits are bailed and most people will lose all their money. Social protests erupt. U.S. stock market will drop another 20% before being halted for the day again. Hedge funds will collapse and banks are stuck with meme stock shorts which will be revealed to be in the trillions. Banks fail critical margin levels and the DTCC will be forced to cover the shorts. DTCC insurance policy will fail as the insurers never had money to begin with and the Federal Reserve is stuck with the bag.

 

Wednesday- Stock market will drop another 20% before getting stopped. Subprime finally hits and housing prices crash by 50% and more. Meme stock, silver, gold, commodity trading is frozen and halted but this will only make the problem worse. Dollar insolvency is all over international news, while silver and gold skyrocket. U.S bonds will be dumped sending interest rates into the stratosphere. Mainstream media will now blare the Great Depression 2.0 and the collapse is here.

 

Thursday- U.S. government will begin to collapse and pressure on the current Admin to resign. Stock market will drop even more for a total of 85-96% since the crash on Monday. Grocery stores will now be empty as supply chains completely break down. Rumours of a coup against the U.S. government will begin to pick up on social media and gain public approval. Massive protests against the government, wallstreet, and the banks will erupt. Police will be deployed and attempt to brutally suppress the protests but they will be unsuccessful.

 

Friday- Voter fraud data is going to be dumped on the internet and this will add fuel to the fire. Reveals stolen elections going back 40 years. Government figures will go into hiding. Meme stock and silver/commodities shorts issue reaches international media and heads of state will demand answers from the U.S. because they too are
exposed through weird financial instruments. BRICS will pick up steam to replace the dollar then and now. Dollar is declared non-grata in many countries in the world with legislation fast tracked to convert dollar denominated debt to other fiat to prevent a total credit freeze."

 

Seeing how we had outages today, it might be a good time to review this.

[keylime]

3 hours ago, Shedagal said:

Seeing how we had outages today, it might be a good time to review this.

So all of this starts next week?

[horsesoldier]

Blah blah blah blah blah blah 

[6ly410]

4 hours ago, Shedagal said:

Tether and other stable coins will fail causing crypto currencies to crash as they become illiquid. Short-Mid term is that crypto currencies will become worthless

 

[Shedagal]

2 hours ago, keylime said:

So all of this starts next week?

I've given up on the timing of this, although the 26th is Monday.  Lots of chatter today and lots of signs pointing to this.  I stay prepared.

[horsesoldier]

I don't take any of it seriously anymore: haven't for a long time. 15 years they've been running their mouths how important it is. 

It's always the same thing then it blows up in their faces, people storm out while a sunami of excuses gets trotted out a better luck next year. 

These folks make our politicians look like Boy Scouts.

[md11fr8dawg]

3 hours ago, 6ly410 said:

Tether and other stable coins will fail causing crypto currencies to crash as they become illiquid. Short-Mid term is that crypto currencies will become worthless

I wouldn't count on that happening!!

[screwball]

10 hours ago, Shedagal said:

Seeing how we had outages today, it might be a good time to review this.

Yep…100% be prepared this is cabal yet of the system shutdowns…it’s coming 

[screwball]

Isn’t this how the movies started, leave the world behind? With mobile phone outages? 

[screwball]

3 hours ago, md11fr8dawg said:

I wouldn't count on that happening!!

Most cryptos will not exist in gold and asset backed…be prepared