Friday, June 25, 2021

WOTS WED JUN 23 21 Baghdad-Erbil controversial funding agreement: What does Al-Kadhimi seek?

 WOTS WED JUN 23 21 

Baghdad-Erbil controversial funding agreement: What does Al-Kadhimi seek?

No My FX Buddies Podcast today

The dollar exchange rates in the local markets, for Wednesday, (June 23, 2021), according to the monitoring of specialists.   

 

Baghdad - Stock Exchange of struggle الكف  

147,550  

....  

Exchange rate (approximate)  

147,000  

148,000  

————————————————-  

Erbil / Bursa  

147,750  

———————————  

Basra / Bursa  

147,700  

-——————————-  

Mosul / Bursa  

147,800  

——————————-  

Najaf / Bursa  

147,650  




The Markets:
The Asian markets closed mixed NIK down by .03% HSI up by 1.79% SHANG up by .25%
The UK markets are currently trading in the red mostly from .06% to .68% FTSE is up by .31%
Our futures are currently trading in the green   DOW at 33886 up  by .15% SNP at 4239 up  by .06% NDX at 14269.50 up by .08%

Precious Metals:
Gold is green at 1783 Silver is green  at 26.05 Copper is green at 425 Platinum is green at 1083 
Brent 75 WTI  73   Bitcoin: 33,988 10 yr yield: 1.47

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1429.1000  1479.4000 1457.2000 1456.9000 1456.9000  0.0000 12:03
 USD/VND  23020.0000  23030.0000 23004.4600 23001.5800 23001.5800  4.3000 02:42
 USD/CNY  6.4759  6.4779 6.4887 6.4733 6.4805  -0.0046 05:23
 USD/KWD  0.3005  0.3015 0.3009 0.3007 0.3009  -0.0002 04:37
 GBP/USD  1.3961  1.3962 1.3987 1.3923 1.3947  0.0014 05:23
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  0.0000 00:00
 USD/IDR  14430.0000  14436.0000 14484.0000 14423.0000 14446.0000  -14.0000 05:21




Iraqi Articles:

Oil rises on sharp decline in US inventories

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Oil prices rose on Wednesday after industry data showed that US crude inventories fell more than expected, bolstering views of a tightening balance between supply and demand as land and air travel rebounded in Europe and North America.

US West Texas Intermediate crude futures jumped 33 cents, or 0.5 percent, to $73.18 a barrel at 05:07 GMT, after falling 60 cents on Tuesday.

Brent crude futures jumped 42 cents, or 0.6 percent, to $75.23 a barrel, after losing 9 cents on Tuesday.

The American Petroleum Institute industry group reported that crude oil inventories fell by 7.2 million barrels for the week ending June 18, according to two market sources.

All eyes are on what the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, plan to do when they meet on July 1 as they gauge the recovery in demand.

The US dollar's retreat from a two-month high hit late last week also helped support oil prices, as the dollar's weakness made oil less expensive relative to other currencies.


Counselor Mazhar Saleh: The statements that attacked our clarification on currency zeros... are politicized and unprofessional 

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Dr. Mazhar Salih, Economic Adviser to Prime Minister Mustafa Al-Kazemi, said on Wednesday, June 23, 2021 that his statement about the project to delete zeros represents a purely economic point of view that included a technical explanation of the issue of the history of the multiplication of zeros in the Iraqi currency during the siege. the past 

In response to statements criticizing his point of view, Saleh considered that they are issued by politicized parties and trolling for words, adding: I have spent seventy-three years of my life and I still face this type of human being, considering that people are enemies of what they are truly ignorant of

Saleh considered that these statements, which claimed that talking about the deletion of zeros, caused a recession in the Iraqi market, politicized and .issued by people who call themselves politicians and independents

And the appearance of Muhammad Salih set two conditions for deleting 3 zeros from the currency, while stressing that the deletion option is proposed as .part of the strategies for reforming the currency and cash payments system in Iraq

Saleh told the Obelisk, "The Central Bank of Iraq developed a project to delete three zeros from the Iraqi currency in order to reform the cash payments system, which has become burdened with the insomnia of the economic blockade imposed in the nineties of the last century, and put it into research and study a long time ago, after looking at about 54 An international experience from the end of the Second World War until the second decade of the twenty-first century, which took place in various countries of the world, in which the monetary payment systems were reformed and made to work more .efficiently, the last of which was the Islamic Republic of Iran and before that, Turkey

He added that "the phenomenon of increasing zeros in the monetary unit or adding zeros to a single monetary unit usually comes due to the exposure of economies to unruly waves of inflation or continuous sharp rises for years in the price level due to wars, sieges and conflicts, which lead to financing the . ".deficit of government budgets through cash issuance

Saleh believed that "the hyperinflation that hit the Iraqi economy in the nineties of the last century added three numbers to the Iraqi monetary unit (that is, one dinar became equal to one thousand dinars, and ten dinars became ten thousand dinars, and so on for the rest of the categories), while the small categories disappeared from circulation completely, but rather Every 250 fils became equal to 250 dinars, and it was considered the smallest .monetary unit in circulation today, which raised the cost of micro-transactions that mostly affect the poor

He concluded by saying, "The project to delete zeros in Iraq is still technically prepared by the Central Bank of Iraq, which is the official sectoral authority and the monetary authority concerned with this matter and in cooperation with all three state agencies and authorities, but the project is postponed at .the present time until the appropriate conditions are achieved and remains part of the currency system reform strategies. and cash payments in Iraq 


Analysis - Baghdad-Erbil controversial funding agreement: What does Al-Kadhimi seek?

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Analysis - Baghdad-Erbil controversial funding agreement: What does Al-Kadhimi seek?

In a controversial decision that drew opposition from finance minister, the Iraqi government decided on June 16 to pay $200 billion dinars ($14 million) monthly to the Kurdish Regional Government (KRG) to finance payments to state workers in the autonomous region. The decision was put to vote at a government meeting and the ministers unanimously approved the funding.

AhlulBayt News Agency (ABNA): In a controversial decision that drew opposition from finance minister, the Iraqi government decided on June 16 to pay $200 billion dinars ($14 million) monthly to the Kurdish Regional Government (KRG) to finance payments to state workers in the autonomous region. The decision was put to vote at a government meeting and the ministers unanimously approved the funding. According to the government, the payment will be considered since the first day of the first month of this year and will be made to Erbil, meaning that Baghdad has to pay 1.2 trillion dinars as employee salaries to the KRG. 

The decision was made as the budget has been a contentious issue between Erbil and Baghdad since 2013. It has triggered massive opposition from various political circles. But what is the reason behind the opposition and why has al-Kadhimi made such a decision in the current conditions? 

Ongoing dispute over adherence to agreement on the oil and budget 

In analyzing the massive objection to the government decision, it must be taken into account that it has roots in the Kurdish dispute with the central government over budget and oil. Over the past years, Erbil leaders insisted that the central government should provide the employees payment budget. On the opposite side, Baghdad pressed for supervision over the Kurdish oil sales. Both accuse each other of failing to keep commitment. 

But in the new conditions, after the world oil price rose to more than $70 a barrel, Erbil has gained a large or maximum part of the budget needed to pay employees, and with 200 billion dinars sent by the central government, now the income of the KRG reaches more than 1 trillion dinars, which is over 100 billion dinars more than the budget needed to pay full salaries to employees. Here is a list of the KRG monthly incomes after new budget is sent to Erbil: 200 billion dinars paid by Baghdad, $450 billion earned from oil sales, 350 billion internal incomes, and 25 billion dinar in aids from the "global coalition." All these sums make a total of 1,025 billion dinars, while the budget needed for the salaries is 894 billion dinars. So, there would be a 130 billion surplus. 

Some Iraqi political parties have expressed dissatisfaction with the government plan and even threatened to impeach Prime Minister Mustafa al-Kadhimi. For example, Hassan Salem, the head of Fatah coalition in the parliament in a statement said paying 200 billion dinars monthly "ex post facto" is an open violation of the constitution and the 2021 budget law, according to which the two sides should commit to their promises. 

"To prevent waste of the public budget, we would take legal actions. The attorney general should prevent this payment to the Kurdish region. The prime minister should be impeached for not committing to the constitution," he was quoted as saying. 

Also, Burhanuddin Ishaq, a senior member of the Babilioun Movement, said that the Iraqi cabinet's decision to pay 200 billion dinars a month to the Kurdish region ex post facto from the beginning of this year, without the Erbil government complying with its obligations in the budget law, violates the Iraqi constitution and other ordinary laws. 

"The reason for that is lack of political will to pass oil and gas law to regulate the revenues of sales of energy resources," he added. 

It seems that the decision will stir further opposition and increase the tension between the Kurds and the central government to new heights. 

Al-Kadhimi’s election goals 

The future elections, scheduled for October 10, also make a reason for this al-Kadhimi's decision. The fact is that al-Kadhimi is trying to secure Kurdish seats in parliament in the run-up to this election. This means that he can now secure about 60 purely Kurdish parliamentary seats. He is well aware that the vast majority of Kurdish parties will welcome Baghdad sending funds to pay the salaries of region's workers, and that his recent decision could spur Kurdish support for his reelection. 

Also, it seems that he intends to coalesce with Muqtada al-Sadr, the head of Saerun coalition, and Masoud Barzani, the head of the Kurdish Democratic Party, to retain his premiership, as the two parties are rumored to have plans for a coalition. Therefore, it can be concluded that the funding plan has election goals and helps an alliance between him and the two political leaders.

 

CBI Update:  Just  a note:

They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is 
here.   

Click on the link above for the latest update.

The CBI for rate is 1460

The currency auction For June 23rd, 2021 total sales amount $216,426,643. 


ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today
Value Traded: not updated for today 

6-22-2021  Newshound Guru Pimpy  Article:   "The U.S. House of Representatives decides to cancel the use of military force in Iraq"  Yay!  We feel they're stable enough to be there on their own and that's exactly what they did.  This is a good move.  We're restoring the sovereignty of Iraq.  Notice that they said, 'We want you to respect our sovereignty.  We want sovereignty, sovereignty, sovereignty.' Sovereignty is a nation that can stand on their own without any outside help.

6-22-2021   Newshound Guru MilitiaMan   Article:  "AL-KAZEMI’S ADVISOR: THE PROJECT TO DELETE ZEROS FROM THE CURRENCY IS SUBJECT TO TWO CONDITIONS"  Quote:  "appropriate conditions are achieved, cash payments in Iraq..."  Wow...Imo they are achieved. CASH PAYMENTS RETROACTIVE to come imo...

6-22-2021   Intel Guru Holly  Tuesday RV News: The hold up on Sunday night was resolved yesterday. There were a lot of meetings yesterday and the rate issue not being released was fixed. I will not put out any timeframe when we expect to see the final release as people get too stuck on a date and then get upset if that date does not happen. Just know all is moving forward and we are on track for this to happen at any moment...

6-22-2021   Intel Guru MarkZ   [via PDK]  What I am hearing on the RV front is the IMF and UST are having some glitches. We don’t know if they are political, software, financial or what???  They are in the process of squaring this away... My folks are still in place...I think it’s any moment between now and Thursday…At least that is what I am being told. I really hope its accurate...

6-22-2021   Intel Guru Frank26  A powerful article came out on the 20th...the article is flat out telling you, we now have security inside of Iraq and we now have stability in our currency.  You're about to see something very soon IMO...  On December 20th they approved everything...and exactly 6 months later right on target on the 20th of June they start to tell you everything we told you they were going to tell you and even more...

6-22-2021   Intel Guru Sheila  [via Guru MarkZ] ...things look great for this to go at any moment...The CBI is meeting tomorrow with financial leaders and private banks…Chase, Wells Fargo, Citibank, Bank of America…  The exchange rate can come back at anytime…they have the “Monetary Reform” well calculated and it’s about to come back… all the postponements were due to Iran interference. …The rate has been a secret but they are about to tell us everything...  The CBI says the new rate is a phenomenon…

6-22-2021   Newshound/Intel Guru Mnt Goat   I have some “WOW” news for you...Yes, this news is amazing since the financial advisor to the prime minister suggested that they perform the project to delete the zeros. We have not heard any discussions on this project for a very long time. It is about time. They are discussing it as part of the solution to the financial mess they are in...once again they are debating the need to do the project (which will get us the RV and shortly afterwards the RI).  What we need is for the finance committee, through the pressure from the prime minister and his financial advisor and economists, to work with the CBI and then later for the CBI to confirm that they are moving ahead. We have not yet gotten this confirmation...

6-22-2021   Newshound Guru Pimpy  When they tell you it's being exchanged in country...that doesn't make no sense...I want you to understand something.  If the rate change happened in country do you understand what type of black market we'd have going on here?  You can go to the United States and buy the currency dirt cheap, run over to the border, give it to a friend who can run it to Iraq, exchange it for the higher exchange rate, take the money, bring it back to you, go back to your country buy more and get rich that way.  This is why there is no change of rate in country.  It would definitely disable the currency.  That doesn't make any sense whatsoever.

6-22-2021   Intel Guru Fleming  Third Monday RV Report...  Military has confirmed that from 1:01 AM EDT...the FOREX will update. Tomorrow morning will be the shotgun start for Tier 4. If everything goes according to plan, in the wee hours of the morning, Tuesday, June 22, 2021 is our start...

6-22-2021   Intel Guru MarkZ   Evening Update:  No negative news…A number of my banking contacts are going right to voicemail...I am hoping this is a good sign...  [Maybe they signed an NDA?]  Yes I am hoping that…or that they are busy exchanging right now. I would like to think this is positive news...a couple of them in Europe...are being asked to stay in position. They are being told this is very close…imminent…  [Do you think this is our week]  All of my bankings contacts do…and I hope they are correct.  


Catnip's Corner:
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ARTICLE 1 (from PM Kadhimi's website)

The Council of Ministers holds its regular session headed by Prime Minister Mustafa Al-Kazemi

Today, Tuesday, Prime Minister Mustafa Al-Kazemi chaired the twenty-fourth regular session of the Council of Ministers, during which he discussed the developments of events in the country, in addition to discussing the topics on the agenda.

The Cabinet session witnessed a review of government measures in the areas of prevention and health awareness control to limit the spread of the Corona virus and secure vaccines and distribute them to health institutions in Baghdad and the governorates, to be available to all citizens.

The Council of Ministers hosted the Chairman of the Board of the Independent High Electoral Commission to discuss their needs to facilitate holding early elections on time on October 10, 2021, where they:

First / agree to:

- Continuing the work of the Independent High Electoral Commission in paragraph (2) of the Council of Ministers Resolution (61 of 2018), and excluding it from paragraphs (5, 6, 12) of the Ministry of Finance circular No. (2437) on January 27, 2010.

- The continuation of the work of the Independent High Electoral Commission in paragraph (23) of Cabinet Resolution (276 of 2019).

Postponing the exemption of the Independent High Electoral Commission from the procedures for renting warehouses affiliated with the Commission set forth in Article (40) of the Law of Sale and Renting State Funds (21 of 2013), which relates to service wages at a rate of (2%) of the provisions of Article (11/paragraph first) And Article (26/paragraph III/c), regarding the extension of the rent allowance named in the contract, imposes an increase of (10%) from the previous year’s rent.

Second / Amending the Cabinet Resolution (91 for the year 2021), according to the following:

- Approval of the allocation of the Ministry of Finance (3,000,000) dinars, only three billion dinars, to the Municipality of Baghdad from the emergency reserve for the fiscal year / 2021, to expand Street (77) and Street (80), and the Baghdad-Kut, Rustumiya road, and return midwives to their correct path according to Technical specifications submitted by the Ministry of Electricity, based on the provisions of Article (5) of the Federal General Budget Law for the fiscal year/2021.

Securing an amount of (2000,000,000) dinars, only two billion dinars for the aforementioned project, through transfers and through coordination between the ministries of finance and planning.

Third / Approval of the draft law of the Institute for the Preparation of Police Commissioners, which was reviewed by the State Council and referred to the House of Representatives, based on the provisions of Articles (61 / Clause First, and 80 / Clause Second) of the Constitution, taking into account the remarks of the Ministry of Interior according to its numbered letter (T.S./Sri/926) dated November 8, 2020, and the notes of the legal department in the General Secretariat of the Council of Ministers confirmed by its memorandum No. (M.D./Q./2/2/12/42/47 LQ) dated 3 February 2020.

Fourth / Approval of the amendment of the Cabinet Resolution (29 of 2019) to become as follows:

- Approval of the Ministry of Finance writing off all financial sums and benefits that were owed by employees of the Institution of Political Prisoners, who were martyred exclusively as a result of terrorist operations instead of extinguishing them, based on the provisions of Article (46) of the amended Federal Financial Management Law (6 of 2019), and a decision Cabinet (28 of 2020).

Fifth / Approval of waiving the amount of income tax on the issuance of bonds of the Republic of Iraq for the year / 2006, owed by the Commercial Bank of Iraq exclusively for the years from 2006 to 2017, amounting to (570,1142000) dinars, only five billion seven hundred and one million and one hundred and forty two thousand dinars, on According to the provisions of Article (46) of the Federal Financial Management Law (6 of 2019), and Cabinet Resolution (28 of 2020).

Sixth / Approval of the National Strategy for the Security of Critical Infrastructures (Sensitive), which is proven to link the National Security Council letter numbered (5/1/770) dated July 12, 2020, and the National Security Council Resolution (13 of 2020), taking into account the opinion of the Secretariat General of the Council of Ministers confirmed by the legal department memorandum No. (M.D./Q./2/38/42/294 L.Q), dated October 6, 2020.

Media Office of the Prime Minister
22 - June - 2021

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ARTICLE 2 (from Government of Iraq twitter account)

Cabinet Spokesperson: The Council of Ministers approved the national strategy for infrastructure security and agreed to allocate three billion IQD for the expansion of the Baghdad-Kut Highway.

Cabinet Spokesperson: The Council of Ministers hosted the director of the Electoral Commission to overcome the difficulties facing its work, and discussed preparing the commission’s warehouses and prepare the staff that will work during the elections.
Cabinet Spokesperson: The initiative will grant interest-free loans to citizens to buy and build housing units, and the loan repayment period up to (20 ) years, and will motivate citizens to buy housing units.
Cabinet Spokesperson: The Iraqi government has taken measures to handle the housing issue, and the Central Bank took an initiative to finance the Real Estate Bank and the Housing Fund with more than one trillion and 800 billion IQD.
1
Cabinet Spokesperson, the Minister of Culture @HassanNadhem, holds a press conference in
Baghdad to brief the media on today’s Cabinet meeting and developments in Iraq.
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ARTICLE 3

The Iraqi Central launches an initiative of 5 trillion dinars to reduce the effects of changing the exchange rate
June 22, 2021 05:18 PM

Mubasher: The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, revealed today, Tuesday, the launch of an initiative worth 5 trillion dinars.

The Finance Committee said in a statement today, Tuesday, that it "hosted, headed by the Chairman of the Committee, Representative Haitham Al-Jubouri, and in the presence of its members and a number of members of the other parliamentary committees, the Governor of the Central Bank, Mustafa Ghaleb Mikhaif, and the Deputy Governor, Ammar Hamad Khalaf."

The statement added, "The periodic meeting that took place at the headquarters of the Finance Committee discussed the steps that the Central Bank promised to implement to reduce the repercussions of changing the exchange rate and its implications, and the issue of selling the currency and confronting the process of its depletion and ways to preserve and invest it properly."

He pointed out that "the committee discussed the projects, plans and loans that the bank promised to implement after changing the currency exchange rate.

The committee stressed the need to adhere to those promises and the speed of their implementation, especially those that contribute to the employment of unemployed youth, support the housing, industry and agricultural sectors, support the local product, and ease restrictions and routine procedures on them.

He continued, "The committee discussed the issue of electronic connectivity between the ministries of commerce and finance and the customs and tax authorities with the Central Bank, as well as the automation of procedures at border crossings, stressing the need for the government to fulfill its duty towards this as indicated by the Finance Committee and the House of Representatives through the Budget Law for 2021."

According to the statement, the committee called on the central bank to take the strongest and strict measures against banks that violate regulations, stressing its support for the bank in this regard, as the current period requires concerted efforts among all authorities.

The committee was directed to host the Minister of Finance to discuss what was proposed in the hosting and to discuss a number of issues that concern the economic reality of the country.

For his part, the Governor of the Central Bank provided a clarification on what the bank has taken and the steps it seeks to take to reduce the negative effects of changing the exchange rate, revealing at the same time, “the launch of an initiative worth 5 trillion in addition to contributing to moving the housing sector to complete the residential complexes that were suspended, as well as The imminent issuance of bonds that enable citizens to invest their money.”

He called for "going to the exchange outlets to receive the financial dues for the sixth installment."

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ARTICLE 4

It costs the state 3 million per month.. The phenomenon of theft of manhole covers spread in Karbala انتشار
07:13 - 06/22/2021
Baghdad - Mawazine News

The Karbala Sewerage Directorate announced, on Tuesday, that it had taken strict measures against the thieves of manhole covers.

 The director of Karbala sewers, Amer Obaid, said, "The Karbala governorate, with its districts and districts, has thirty-five thousand sewer holes, and nearly thirty thousand side drainage holes," noting that "it is difficult to control them and protect their covers from theft."

He added, "The Directorate of Sewage has approached Karbala Governorate, the Police Command and the Operations Command, to put an end to this uncivilized phenomenon that endangers the lives of citizens and their private properties at risk and damage," noting that "strict legal measures will be taken to curb this phenomenon, including fines and imprisonment."

On the other hand, the director of the Al-Hur sewage branch in Karbala, Raed Abboud, said that "the theft of manholes sewage covers began to appear in Karbala about three months ago, especially after the work of iron and steel plants because they contain iron, or what is called cast iron, to be recycled and recycled."

He added that "the theft of sewer covers costs the state sums of money estimated at two million dinars and may reach three million per month, and this constitutes an additional burden on the departments as they operate in the self-financing system."

He pointed out that "there are accidents, including one death of a three-year-old child who fell into one of the newly stolen "manholes", in addition to the occurrence of a number of cases of injury and permanent disability of citizens, and the fall of a number of cars in them and their exposure to damage," calling for "the need to stop these thefts and avoid their dangers.”

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ARTICLE 5

Oddities of the world: customs and traditions that you may hear about for the first time
Tue, Jun 22, 2021 7:49 PM

Around the world, there are many tribes, and each of them has strange and different customs and traditions according to what they believe in.

crocodile skin

Tribes in New Guinea undergo a process called crocodile scratching when a boy becomes a man, and it can take months for the body to fully recover.

red people

The Himba tribe in Namibia are known for covering their skin with a thick red cream made from local herbs and crushed rock. The cream is seen as attractive to other members of the tribe as it keeps their skin safe from the scorching African sun.

Himba women bathe only once in their lives, just before marriage, on the night of their bathing, they wash their hair with ashes and must keep the same hairstyle for the rest of their lives.

When you get old you die alone Eskimos have an interesting tradition when it comes to caring for the elderly, to prevent the older members of society from being a burden on their families, they are sent to die alone on a floating iceberg when they come of a certain age, they see it as giving The old man farewell leaves them with their grace and dignity.

The strangest customs in the world
The toughest wig The Holly Wigman of New Guinea is known as the fiercest and strangest tribe in the world, and they spend most of their lives making huge, ornate wigs, with boys even sent to wig school as part of the initiation of manhood, and wigs are used to intimidate enemies who are fighting against them.

Bull jumping to become a man. In the Hammer tribe in Ethiopia, young boys prove their manhood by jumping on the back of a bull, then jumping from the back of that bull to another bull and seeing how many they can jump across. They usually perform this ritual while they are naked.

Bigger is more beautiful, everyone in the Mauritanian tribe believes that the older the woman, the more beautiful, so that fathers send their daughters to fat camps where they are fed an average of 15,000 calories every day where being big makes you more desirable as a wife.

Crazy habits around the world
Cut it close, the women of the Dani tribe who live in Amena Papua, Indonesia, choose grief in a very strange way, when a family member dies, the women in the family voluntarily cut off part of one of their fingers, and they anesthetize it by tying the part with a thread for about half an hour, and after Making the cut, they close the wound with fire.

In the family resting, the burial traditions of the Yanomami tribe in the Amazon are more than strange. When a person from this tribe dies, their body is cremated and the ashes are mixed into a soup that their surviving family members drink. They believe that by eating the remains of their loved ones, their souls will live with them forever.

Giraffe necks, the Kayan women are mainly the ones you see with golden coils around their necks, although men sometimes wear them but there are different ideas as to why they wear coils, but the most common reason is that they are a symbol of beauty.

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