News, Rumors and Opinions Wednesday Afternoon 3-20-2024
KTFA:
Wrestler: Why so quiet after such a great call last night?
Alicia2015: It’s the final countdown. Everyone’s busy dusting off their dinars. IMO
TBJohnson: I believe that one reason why it’s rather quiet here is because we’re all holding our breath in anticipation for what appears to be happening soon with our investment…. It could happen any time or within merely a couple of weeks from now in my opinion….
Clare: Parliament Finance: The Central Bank will move to support banks through this mechanism
3/20/2024 Baghdad
Today, Wednesday, the Parliamentary Finance Committee revealed the Central Bank’s intention to support banks through loans, while indicating that the Ministry of Labor has opened the platform for applying for small project loans.
The representative of the committee, Mustafa Al-Karawi, said in an interview followed by Al-Iqtisad News: “The committee, during its hosting of the governor of the Central Bank, called for support for banks, especially in the issue of loans,” noting that “the governor of the central bank promised the committee to launch loans, especially the Real Estate Bank, to support the construction movement.”
He added, “Loans for small projects will be through the Ministry of Labor, which in turn has opened a platform to provide unregistered people who have not benefited from previous loans in order to support projects, with the value of the loan reaching 50 million dinars.” LINK
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Jeff This weekend coming up would be the historical anniversary date of when Kuwait reinstated their currency – March 24, 1991
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Bank friend says…Al-Sudani is making an announcement during Ramadan remember? He’ll go to Washington DC but after he comes back I believe that this rate [1.32 dinar to $1.00} with the deletion of the zeros will coincide with the WTO. We are basically in a countdown. FRANK: …The final countdown. Let’s roll! I think when they finish with Washington DC and they come back, we may see what we’re looking for. [Post 1 of 2….stay tuned]
Frank26 Continued : I am crazy excited your prime minister Al-Sudani and the governor of the CBI Alaq and the board of directors are constantly telling you they’re going to give you 1.32 dinars to $1 and a new exchange rate to match it with lower notes…It looks like the next two weeks will be very loud on the monetary reform education. Be ready to move quick. [Post 2 of 2]
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TNT:
Tishwash: Saudi Arabia approves an agreement to open a regional office for the International Monetary Fund in Riyadh
Enhances the Fund’s presence and partnership with Arab institutions
The Saudi Council of Ministers, headed by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, approved on Tuesday evening a headquarters agreement between the government of the Kingdom of Saudi Arabia and the International Monetary Fund to establish a regional office for the Fund in the city of Riyadh, according to the Saudi Press Agency, SPA.
The Saudi Ministry of Finance had signed an agreement with the International Monetary Fund regarding the establishment of a regional office for the Fund in the Kingdom.
The Director of the International Monetary Fund, Kristalina Georgieva, recently said, “Our new office in Riyadh works to strengthen our presence and partnerships with Arab institutions.”
This step reflects the Kingdom’s position as the largest economy in the region and one of the most prominent economies of the G20. link
Is The Fed About To Crash Markets? Economy Is Weaker Than You Think | Axel Merk
David Lin: 3-20-2024
Axel Merk, CIO and President of Merk Investments, discusses the major investments themes for 2024 and his outlook for markets and the economy.
0:00 – Intro
1:55 – Drivers of Rally
3:45 – Gold vs. stocks
5:30 – Investing sentiment
7:40 – Gold price outlook
13:00 – U.S. dollar
16:15 – Red Sea attacks and trade
18:15 – Fed monetary policy
21:40 – Fiscal policy
23:00 – 2024 thesis
23:40 – Investing in gold stocks
