Goldilocks' Comments and Global Economic News Monday Evening 4-22-24
Goldilocks' Comments and Global Economic News Monday Evening 4-22-24
Good Evening Dinar Recaps,
ISO 20022 UPGRADE OF SWIFT MESSAGES FOR MONEY SETTLEMENT ANNOUNCEMENT:
"To act in concert with the global standard of adopting ISO 20022 in SWIFT and Hong Kong RTGS for payment-related SWIFT messages, OTC Clear has planned to migrate money settlement messages from existing SWIFT MT messages to ISO 20022 XML-based message ("MX messages") on 22 April 2024."
On April 22nd, 2024, the Society for Worldwide Interbank Financial Telecommunications and Real Time Gross Settlements is upgrading to the ISO20022 messaging system.
The Hong Kong Interbank Clearing Limited and the Hong Kong Securities Clearing Company Limited will soon after do a market-wide testing to make sure the clearing systems of the East and West are synchronized.
Goldilocks' Comments and Global Economic News Monday Evening 4-22-24
Good Evening Dinar Recaps,
ISO 20022 UPGRADE OF SWIFT MESSAGES FOR MONEY SETTLEMENT ANNOUNCEMENT:
"To act in concert with the global standard of adopting ISO 20022 in SWIFT and Hong Kong RTGS for payment-related SWIFT messages, OTC Clear has planned to migrate money settlement messages from existing SWIFT MT messages to ISO 20022 XML-based message ("MX messages") on 22 April 2024."
On April 22nd, 2024, the Society for Worldwide Interbank Financial Telecommunications and Real Time Gross Settlements is upgrading to the ISO20022 messaging system.
The Hong Kong Interbank Clearing Limited and the Hong Kong Securities Clearing Company Limited will soon after do a market-wide testing to make sure the clearing systems of the East and West are synchronized.
Once this interface is complete and tested, the new settlement messaging system for tokenized assets through Stablecoins, already tested and regulated, in Hong Kong will be able to move digital money in cross-border International trades. This will enable foreign currency exchanges to take place on this new Digital Financial Settlement System. HKEX Adenza
© Goldilocks
👆Today
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There's even more good news for Hong Kong's upgrade to ISO 20022 and their new listings.
The China Securities Regulatory Commission said it will facilitate Hong Kong listings by leading Chinese companies.
CSRC said it will expand the Stock Connect cross-border investment scheme by placing Hong Kong's new listings on the Shanghai Stock Exchange International Financial Centre. SCMP
© Goldilocks
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There are three trends taking place on our Global Markets. These three trends have not been seen before in history.
We have new tokenized assets onboarding the trading system through ETFs, we have the dollar that has continued to rise, and we have gold that is continuing to rally.
These two major assets (dollar and new ETFs) would have at one time held the price of gold down, but we are not seeing this take place and the repercussions of this fact tell us we are sailing into new headwinds inside our Global Markets.
So far, our markets seem to be pricing in these new changes or shall I say new transitions of our economy. This is why following the new digital economy as it completes its final phases of development is so important.
Old indicators and fundamentals no longer apply and new ones are beginning to surface. This indicates a transition is taking place inside the entire economy, but you have to know what you're looking for inside the new digital asset-based trading system.
Current indications are showing us that our new correlated asset trends are beginning to work together instead of adversely. If these new trends continue, our markets will have moved from negative correlations to positive ones.
What does this mean as far as watching for changes happening on the market in our current world? It means we have to look for and when the QFS is finally completed its connections. Once its development is complete, we will then know the real values as they are turned on inside the new digital economy. VanEck
Time will tell.
© Goldilocks
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"With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries."
Today, JP Morgan Chase's Jamie Dimon met with executives from the World Bank Group and several other multilateral development lenders.
They are currently working on ways to pull private money into new jobs through their new Green Bond initiatives across Emerging Markets. The World Bank and the IMF are actively involved in these meetings as well. The World Bank in the IMF are two major players that will announce the Bretton Woods III agreement.
This will provide liquidity for several countries outside of the United States and provide movement forward in resetting/leveling the playing field for their local economies across all market sectors including Forex. Finance Yahoo World Bank
© Goldilocks
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Currency devaluations on a global scale is really picking up steam. We are about to see currency interventions begin to take place on a massive scale.
This does not mean we're about to see a revaluation many of you are looking for going forward. It just means that Credit Valuation Adjustments are about to begin on every sector of the market including Forex.
We could see some currency price adjustments, but we are looking for those CVAs to be backed by real values based on the release of caps on gold. CNBC Transwap
© Goldilocks
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China is dumping U.S. treasuries and buying Gold | FX Street
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Are the days of dollar love ending? - Opinion News | The Financial Express
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Quant Network CEO: 2024 Is The Year Of Institutional Adoption Of Blockchain | Business Upturn
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Anthony Scaramucci remains bullish on Bitcoin’s long-term performance.
He compares its development to the beginnings of the Internet and Amazon shares. | Crypto News Flash
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Cryptocurrencies: Why You Shouldn't Overlook Dogecoin (DOGE) and Retik Finance (RETIK) in 2024 - Crypto Daily
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Are the BRICS and their New Development Bank offering alternatives to the World Bank, the IMF, and the policies promoted by the traditional imperialist powers? | CADTM
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The Progression of Exchange: Cryptocurrencies and the Future of Transactions - Eye On Annapolis
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What are Green Bonds and How Can They Fight the Climate Crisis? | The Climate Reality Project
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“Seeing some confusion on next steps with the SEC vs. Ripple case.
To clarify – Ripple will file its response to the SEC’s request for penalties by April 22nd and the SEC has until May 6th to reply.”
* KC Trader
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“The authorities substantially tightened macroeconomic policies in 2023 and into the first quarter of 2024. They are beginning to reap the fruits of the adjustment in the form of a stable exchange rate and declining inflation. Nonetheless, the remaining adjustment required to keep debt on a sustainable path is significant, financing needs are high, and foreign reserves have fallen.
“The authorities and the staff team reached an agreement on most policies to underpin the requested arrangement under the ECF. They reached an understanding on the authorities’ development objectives and reforms needed to achieve macroeconomic stability and maintain debt sustainability.
IMF Staff Concludes Mission to Sierra Leone | IMF
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XRP NEWS PROOF RIPPLE & SWIFT ARE UNLOCKING $27 TRILLION | Youtube
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Economist’s “International News and Views” Monday 4-22-2024
Japan Asks America For PERMISSION To Save Its Currency As The Strong Dollar Wrecks Everything
Sean Foo: 4-22-2024
Japan and South Korea are in panic mode, both running to the US Treasury to gain approval for currency intervention. As the dollar continues to strengthen, global currencies in the world are starting to fall fast.
Here's why we are facing a global currency crisis today and how bad things can get for the global economy.
Japan Asks America For PERMISSION To Save Its Currency As The Strong Dollar Wrecks Everything
Sean Foo: 4-22-2024
Japan and South Korea are in panic mode, both running to the US Treasury to gain approval for currency intervention. As the dollar continues to strengthen, global currencies in the world are starting to fall fast.
Here's why we are facing a global currency crisis today and how bad things can get for the global economy.
BRICS Will ACCELERATE Launch of Its Financial System Following Russian Asset Seizure, Sanctions
Lena Petrova: 4-22-2024
BRICS on the rise: Why the UN is failing?
Fastepo: 4-21-2024
Internationally, there is a mixed view regarding the United Nations (UN) and its effectiveness, particularly from the BRICS nations and other parts of the Global South.
These countries often see the UN as being dominated by Western interests, particularly those of the United States, and criticize it for not adequately representing the interests of a multipolar world.
For instance, at various forums, leaders like Vladimir Putin have proposed reforms such as including African nations as permanent members of the UN Security Council to better reflect the current global dynamics.
The BRICS group itself is seen as a potential platform to foster a new world order that could challenge Western dominance in global affairs. This is exemplified by initiatives like the New Development Bank, established by BRICS to offer an alternative to Western-dominated financial institutions like the World Bank and the IMF.
Such moves underscore a desire among these nations to reduce their reliance on the US dollar and increase their autonomy in international financial systems.
In this video, we explore the reasons behind the United Nations' (UN) operational challenges and examine criticisms from the Global South. We will also discuss the limitations of the current international system and consider alternative organizations that could potentially replace the UN.
More News, Rumors and Opinions Monday PM 4-22-2024
KTFA:
Clare: Two Gulf ministers arrive in Baghdad to sign the development road agreement with Erdogan
4/22/2024
The Qatari Minister of Transportation, Jassim bin Saif Al-Sulaiti, and the Emirati Minister of Energy and Infrastructure, Suhail Al-Mazrouei, arrived in the capital, Baghdad.
The two Gulf ministers will participate in the signing ceremony of a quadripartite agreement between Iraq, Turkey, Qatar and the UAE on the path to development.
Erdogan arrived this morning in the capital, Baghdad, and was received by Prime Minister Muhammad Shiaa Al-Sudani at Baghdad International Airport.
KTFA:
Clare: Two Gulf ministers arrive in Baghdad to sign the development road agreement with Erdogan
4/22/2024
The Qatari Minister of Transportation, Jassim bin Saif Al-Sulaiti, and the Emirati Minister of Energy and Infrastructure, Suhail Al-Mazrouei, arrived in the capital, Baghdad.
The two Gulf ministers will participate in the signing ceremony of a quadripartite agreement between Iraq, Turkey, Qatar and the UAE on the path to development.
Erdogan arrived this morning in the capital, Baghdad, and was received by Prime Minister Muhammad Shiaa Al-Sudani at Baghdad International Airport.
The visit will last one day and will witness discussion of water, economic and security files, the development road project, developments in the situation in the region, and the signing of a bilateral strategic framework agreement aimed at expanding the partnership in the economic and trade fields, exchanging experiences, and confronting common environmental and regional challenges. LINK
Clare: The Iraqi Central Governor reveals the plan to reform the banking system and talks about “sanctions”
4/22/2024 - Baghdad
Today, Monday, the Governor of the Central Bank of Iraq presented a plan to reform the banking sector in Iraq, and while he touched on the issue of sanctions on Iraqi banks, he stressed that these measures did not threaten the Iraqi economy.
The Governor of the Central Bank, Ali Al-Alaq, said in a televised interview followed by “Al-Iqtisad News” that “the current Iraqi government is very focused on the economic dimension and renaissance, and the expansion of infrastructure and services,” indicating that “this matter requires the presence of an active and effective financial sector that can To accompany, activate, organize and finance, so this file goes hand in hand with the government’s plan within the framework of economic reform.”
He added, "Iraq has a very large financial relationship with the United States of America, given that the oil resources that form the basis of the Iraqi state's budget come from the export of oil via the dollar, and this is what is agreed upon globally," pointing out that "the first stop for Iraqi funds is in the Federal Reserve." The central bank then deals with these funds by investing them in various areas inside the United States and abroad in central banks of other countries.”
The Governor of the Central Bank continued, “There is diversity in the nature of these reserves, such as geographical and qualitative diversity in these investments, which are in the form of bonds, gold, goods, and others.”
Regarding the issue of financial reform in Iraq, Al-Alaq explained, “Iraq has a multi-faceted program in this framework, as the first aspect is harmony, adaptation, the adoption of international standards in financial transactions, and the application of compliance rules and laws related to combating money laundering and terrorist financing,” stressing that “there is interest.” Dollin is very focused on ensuring that transactions are free of any violations, violations, or suspicious issues.”
He continues by saying: “Given that the financial relationship with the United States of America is broad and large, the Iraqi financial system must be protected, as well as the system in America, and any money laundering or terrorist financing operations must be prevented from entering through it,” noting that “there is continuous coordination and common understanding, throughout the years.” The past in order to achieve this goal, which includes the presence of broad plans and programs, relying on international consultations and contracting with major offices specialized in this field, with which the Central Bank is organizing these matters in order to achieve the great goal, which gives positive messages to financial institutions all over the world.
As for the second matter, he stated, “This matter revolves around reforming the banking sector itself, and many details revolve around it with plans being worked on, starting with government banks such as Al-Rashid, Al-Rafidain, Al-Sina’i and Agricultural, which constitute 80% of the Iraqi banking sector,” adding by saying: "If we want to think about the reform process, we have to start from the largest part, as it was agreed in direct coordination with the Prime Minister, the government, and the Central Bank to reform these banks, through a large plan that is now underway in contract with one of the large international companies, which includes restructuring."
He continued his speech, saying, “There is a great focus on targeting the structure to advance these banks by introducing strategic partners from outside Iraq, who have accumulated experience in this field,” stressing that “there are clear desires from some internationally accredited banks to participate in this field, and we are still awaiting a study.” The company in charge of this matter in order to attract investors from inside Iraq, as it will be like public joint-stock companies that absorb capital from within the country, in addition to the necessity of having a strategic partner to modernize government bank departments in a way that reaches the advanced level.”
He pointed out, “Government banks were very late due to the circumstances that the country went through, and it is necessary to keep pace with the process of major changes,” explaining that “the detailed study of this project will be presented in the eighth month, and then there will be clarity about the road map and the next steps so that appropriate measures can be taken.” "In this regard."
Al-Alaq stated, “This is one of the things that was discussed during the meeting with the US Treasury, and it was very welcomed by all parties, not just in the United States, as it is an existing and ongoing question by the parties of international institutions.”
Regarding the US sanctions on Iraqi banks, he added: “We have a close relationship with the US Federal Bank, and what happened was the emergence of a list of bank names, where the issue was not imposing sanctions on these banks, or including them in the sanctions list, but rather depriving them of dealing in dollars only.” Pointing out that “the Central Bank took a serious look at the merits of the issue and how to take future measures, and this is part of the dialogue that took place, whether it was in the presence of the Prime Minister with the US Treasury, or even during the meetings held by the Central Bank with the US Federal Reserve.”
He noted, "Violations in the banking sector exist, and may occur, and this is the work of the Central Bank constantly, as we have a committee specialized in fines and penalties, which receives inspectors' reports, and imposes these fines on an ongoing basis in accordance with the Money Laundering and Anti-Terrorism Law."
Regarding the repercussions of this suspension on the Iraqi economy, Al-Alaq stated, “This suspension certainly has negative effects, but it will not threaten the Iraqi economy, especially since external transfer operations and the exchange rate continue normally.”
As for the fictitious companies that sell the dollar, the Governor of the Central Bank stated, “These phenomena exist in other countries as well, and due to technical developments and dealing through websites, they are an opportunity for fraud at the same time, and the Central Bank has a careful follow-up of these matters and they are reported in the judiciary.” Considering the use of these means to trap others, we warn against them.”
Al-Alaq touched on government debts, explaining: “The current government focused on the external debt, which amounts to a minimum of $9 billion to multiple parties, which is the lowest over the past years due to continuous repayments. As for the domestic debt, it has reached approximately 70 trillion dinars.” LINK
Suzie: He's planning to reform the banking system(s)?? Forgive my total ignorance but I thought this was ALL done and we're awaiting the release of a new exchange rate??
DeepWoodz: ”The detailed study”….Im not sure how to take this. Standing on this side of the rate change makes me naturally want to say something negative, but I have to consider all the facts.
Iraq did not JUST NOW begin their banking reforms. They also did not JUST NOW begin to do a study of their monetary reform, exchange rate, or otherwise. Let’s face it, I’m pretty sure there has never been anything like what Iraq is going through right now. There are no experts that have actually done this exact thing before. It really is a monumental task that will have a global impact.
Im as ready as anyone to cash in and I wish it were that simple. Truth is though, it is happening. We are so far down this road now there is no turning back.
DPadd44: IMO I think this message from Alak is not new. IMO it was recorded earlier just my MO. In reality this has been the most exciting year ever. IMO our blessing is close. we just need to trust God. It will happen IMO. As Frank has stated many times BE PREPARED !!!!
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Al-Sudani has rocked it. They showcased this country like they've never done before. We've never seen this. Anybody that's been in this investment since 2003 has never witnessed what we're witnessing today...If they were going to come out at 1310 dinar to try to do all the things they're doing right now the world would be just like they were in Kuwait - crickets. This is powerful. Wonderful.
Nader From The Mid East 'Everybody's like, hey Nader you're there for the announcement?' There's no announcement. There's not big screens...They're going to come out with a new exchange rate maybe a little smaller for now yes...You see they talking about changing the exchange rate again. Yeah, they're going to do it soon. We'll see what it is. It could be 1000. Remember we said 1000 and then they eliminate the three zeros...You're going to have to be patient.
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LIVE! AN ECONOMIC NIGHTMARE IS RAPIDLY UNFOLDING... AND THIS IS JUST THE START OF IT.
Greg Mannarino: 4-22-2024
“Tidbits From TNT” Monday 4-22-2024
TNT:
CandyKisses: Investors from 145 countries at Abu Dhabi Investment Summit
Abu Dhabi (Nina) - Investors from 145 countries will participate in the AIM Investment Summit 2024, which will be held under the theme "Adapting to the Transformation of the Investment Landscape: Harnessing New Potential for Global Economic Development", from May 7 to 9, at the Abu Dhabi National Exhibition Centre.
During the summit, the best investment opportunities for the global business community will be reviewed and discussed. 25 ministers, 45 mayors, 12 central bank governors, 900 speakers, 9 global stock exchanges, more than 50 unicorns, and more than 12,000 participants from 175 countries around the world will participate in 27 joint events organized in cooperation with more than 304 international partners.
The summit aims to provide an ideal platform that enables all participants to exchange experiences and ideas to stimulate global economic growth, discuss the challenges facing the world and come up with innovative solutions.
TNT:
CandyKisses: Investors from 145 countries at Abu Dhabi Investment Summit
Abu Dhabi (Nina) - Investors from 145 countries will participate in the AIM Investment Summit 2024, which will be held under the theme "Adapting to the Transformation of the Investment Landscape: Harnessing New Potential for Global Economic Development", from May 7 to 9, at the Abu Dhabi National Exhibition Centre. During the summit, the best investment opportunities for the global business community will be reviewed and discussed.
25 ministers, 45 mayors, 12 central bank governors, 900 speakers, 9 global stock exchanges, more than 50 unicorns, and more than 12,000 participants from 175 countries around the world will participate in 27 joint events organized in cooperation with more than 304 international partners.
The summit aims to provide an ideal platform that enables all participants to exchange experiences and ideas to stimulate global economic growth, discuss the challenges facing the world and come up with innovative solutions.
Tishwash: Exclusive.. The Iraqi government: A big surprise in Erdogan’s historic visit to Baghdad
The Iraqi government revealed, on Sunday evening, the details of Turkish President Recep Tayyip Erdogan’s visit to the capital, Baghdad, tomorrow, Monday morning, noting that “there is a big surprise” related to the agreements and memorandums of understanding to be signed in various fields.
The government spokesman, Bassem Al-Awadi, told Shafaq News Agency, “The Turkish President’s visit to Baghdad is a historic visit, and this visit will chart a path for Iraqi-Turkish relations that did not exist previously at all. This is not an attempt to exaggerate, but rather it is real, and tomorrow’s visit is Monday.” "I will reveal this matter to everyone."
Al-Awadi added, “The visit will witness the signing of two agreements, in addition to approximately (25) memorandums of understanding, and these will advance the nature of Iraqi-Turkish relations, and there is a big surprise during the visit, especially with regard to the water file, and those agreements and memorandums will focus on security, the economy, and the path to development.” ".
He explained, "Erdogan's visit to Baghdad tomorrow, Monday, is of great importance, especially since it is his first visit in 13 years, and the visit was worked on by various joint committees throughout the past year, in order to arrange the papers in the economic and security files and in the development road project."
The Iraqi government spokesman confirmed, "Tomorrow, Monday, will be an important day in shaping the nature of relations between Baghdad and Ankara, and there will be a surprise and signed agreements that are the first of their kind between the two countries."
Informed sources told Shafaq News Agency that Erdogan will sign about 37 multifaceted memorandums of understanding, the most important of which is the strategic framework memorandum for cooperation between the two countries, from which five committees are divided, as follows: security, water, economic, energy, and transportation.
Erdogan is visiting the capital, Baghdad, after a visit he made in 2011, and the Iraqi-Turkish talks focus on security, military and economic files, in addition to expanding trade cooperation.
Turkey says it is seeking greater cooperation from Baghdad in its war against the Kurdistan Workers' Party, a file that has further strained relations between the two countries due to Turkish military operations in northern Iraq, as well as disputes over oil exports and sharing scarce water supplies.
The dispute over oil exports from the Kurdistan Region is particularly thorny, and the two sides disagree over the resumption of oil exports from a pipeline through Turkey.
After nearly a decade of seeking international arbitration, the Iraqi government won recognition of its right to control oil exports, and Ankara was ordered to pay $1.5 billion in compensation for transporting them without Baghdad's approval. In protest, Ankara closed the export pipeline.
Ankara later began maintenance work on the pipeline, which contributes about 0.5% of global crude oil supplies. The two countries agreed to wait until the pipeline maintenance assessment is completed to resume flows while they continue to engage in a legal battle over the arbitration awards. link
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Tishwash: Parliamentary Finance: We are awaiting the arrival of the 2024 budget schedules during this month
Today, Sunday, the Parliamentary Finance Committee confirmed that the 2024 budget schedules will reach the House of Representatives during the current month
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, said in a statement received by Al-Rabaa: “We are awaiting the arrival of the 2024 budget schedules during this month,” stressing “the effort to correct the path of the budget by maximizing non-oil revenues, encouraging the private sector, and reducing operational spending.”
The Parliamentary Finance Committee confirmed today, Sunday, that the House of Representatives is awaiting the arrival of the 2024 budget schedules during the current month.
The committee stated in a statement received by the Iraqi News Agency (INA), that "The Chairman of the Finance Committee, Atwan Al-Atwani, received today the Chargé d'Affaires of the German Embassy."
Al-Atwani pointed out, “We are awaiting the arrival of the 2024 budget schedules during this month,” stressing “the effort to correct the path of the budget by maximizing non-oil revenues, encouraging the private sector, and reducing operational spending.”
He called on "German companies to enter Iraq and invest in various sectors, most notably the production and improvement of electrical energy," calling on "the German embassy to follow up on the implementation of the agreements and memorandums of understanding that the Sudanese signed during his visit to Germany."
While the Chargé d'Affaires of the German Embassy confirmed that "the stability of the situation in Iraq encourages the entry of our companies to invest in various fields." link
Mot: ..... Still Amazes Me What Ya Can Learn on the INternet!!!
Mot: ... heee heeee heeee -- More and More Tricks We Can learn from da INternet!!!
News, Rumors and Opinions Monday 4-22-2024
MarkZ Announcement:
Mod: Mark informed me he has an early flight tomorrow morning (Monday) and will not be landing in PR until late evening!
NO PODCAST TOMORROW (MONDAY) MORNING OR EVENING!
NORMAL PODCAST TUESDAY MORNING AT 10:00 AM EST! THANKS!
MarkZ Announcement:
Mod: Mark informed me he has an early flight tomorrow morning (Monday) and will not be landing in PR until late evening!
NO PODCAST TOMORROW (MONDAY) MORNING OR EVENING!
NORMAL PODCAST TUESDAY MORNING AT 10:00 AM EST! THANKS!
Ariel: Well guess who just left Houston? Iraq.
A lot of people are about to be rich.
They are ready.
Why wouldn’t this be there? Expect to see more of these.
The image shows a currency exchange counter located inside what appears to be a shopping mall or airport terminal. The currency exchange is labeled “CURRENCY EXCHANGE” and has a “START CONNECTING” sign overhead, suggesting it may be a new or recently opened service.
Currency exchange services allow travelers to exchange foreign currency or acquire the local currency of the country they are visiting. Having such facilities conveniently located in major transportation hubs and shopping centers makes it easier for international visitors to obtain the cash they need upon arrival.
Given the image’s title mentioning Houston, this currency exchange seems to be a new service that has recently opened up in a popular mall or airport in the Houston, Texas area to cater to the needs of international travelers and shoppers there. Iraq has a rich reserve of oil and natural gas, but their energy infrastructure faces some challenges.
Iraq’s oil and gas industry likely needs upgrades to become more efficient and productive. Houston is a hub for oil and gas technology companies, so Iraqi delegates might be seeking partnerships to improve their infrastructure.
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Tommy: They just opened a currency exchange at The Woodlands Mall north of Houston. Literally popped up overnight.
Crypto_Corvette: I can confirm! I went there today! I asked the teller if he knew about the RV, he looked at me and smiled then he said you mean the 1-to-1 revaluation.
https://dinarchronicles.com/2024/04/21/ariel-prolotario1-a-lot-of-people-are-about-to-be-rich/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Article: "Member of Sudanese delegation: We will witness a rapid decline of the dollar in the coming days" When they say the rapid decline of the dollar I don't believe for a moment they're saying the dollar is going to crash. What I believe they're saying is their expectation is the dinar is going to rise.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television saying that Alaq the CBI governor is going to stay in Washington DC for a few extra days. They saying to us that he's following up on what Sudani was doing... FRANK: Now that Sudani is back he's going to start the process of explaining to you Iraqi citizens everything on how you are going to be receiving your lower notes, how you're going to use the ATM machines...accounts, maybe even the education on the coins that will be coming out eventually. You should be excited because I am!
Economist’s “News and Views” Sunday 4-21-2024
Credit Crisis Is Now Worse As 50 Million Americans Stop Paying Creditors!
Atlantis Report: 4-20-2024
The United States is facing an unprecedented financial crisis. As many as 50 million Americans have stopped paying their creditors, causing a massive disruption in the country's credit system.
This development has sent shockwaves throughout the economy, with lenders trying to minimize the damage while consumers struggle to manage their increasing debts.
The American economy has faced many challenges recently, but none are as dangerous and pervasive as the credit crisis.
With over 50 million Americans ceasing payments to creditors, the situation has escalated beyond warning signs to a full-blown economic emergency.
Credit Crisis Is Now Worse As 50 Million Americans Stop Paying Creditors!
Atlantis Report: 4-20-2024
The United States is facing an unprecedented financial crisis. As many as 50 million Americans have stopped paying their creditors, causing a massive disruption in the country's credit system.
This development has sent shockwaves throughout the economy, with lenders trying to minimize the damage while consumers struggle to manage their increasing debts.
The American economy has faced many challenges recently, but none are as dangerous and pervasive as the credit crisis.
With over 50 million Americans ceasing payments to creditors, the situation has escalated beyond warning signs to a full-blown economic emergency.
This is why people are falling behind on payments, and now the consequences of increased consumer debt begins.
The Banks Are Insolvent! - You NEED Gold & Silver (W/ Lynette Zang)
Smart Silver Stackers
Today I had the pleasure of speaking with Lynette Zang. We cover the looming banking crisis, inflation, gold, silver & more!
Gold Owners Will Dominate In New Monetary System | Clive Thompson
Liberty and Finance: 4-20-2024
"Governments around the world are getting more worried about holding Treasuries," says Clive Thompson, retired managing director of wealth management formerly working in Swiss private banking.
In the event of a Dollar crisis, "those who have the gold will still be calling the shots." He expects the Dollar as we know it to disappear and be replaced with a Central Bank Digital currency system. Paper Dollars will no longer be spendable at some point, Clive says.
INTERVIEW TIMELINE:
0:00 Intro
1:09 Eastern gold demand
13:00 Gold = Power
17:40 Silver demand
23:35 CBDC
Goldilocks' Comments and Global Economic News Sunday Evening 4-21-24
Goldilocks' Comments and Global Economic News Sunday Evening 4-21-24
Good Evening Dinar Recaps,
Hong Kong Digital Banking Announcement:
Hong Kong is offering new guidance on their TM Systems Technology currently in development.
TM System's "goal is to become global leaders in security consulting services and location-based analytics along with software development."
This new technology will help them with their new in-house Derivatives Platform. It will run on the Orion Derivatives Platform. And, it has enhanced trading and clearing capabilities that will enable them to run almost 24 hours a day.
Hong Kong already has their own electronic security system, and this new system is currently in process of being developed for added security protection going forward on their derivatives platform.
© Goldilocks
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Goldilocks' Comments and Global Economic News Sunday Evening 4-21-24
Good Evening Dinar Recaps,
Hong Kong Digital Banking Announcement:
Hong Kong is offering new guidance on their TM Systems Technology currently in development.
TM System's "goal is to become global leaders in security consulting services and location-based analytics along with software development."
This new technology will help them with their new in-house Derivatives Platform. It will run on the Orion Derivatives Platform. And, it has enhanced trading and clearing capabilities that will enable them to run almost 24 hours a day.
Hong Kong already has their own electronic security system, and this new system is currently in process of being developed for added security protection going forward on their derivatives platform. Mayer Brown Finance Feeds Linkedin Trade Easy
© Goldilocks
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"Putin Orders Developing Grain Exchange Mechanism between BRICS Countries"
This new "Grain Exchange Mechanism" involves the BRICS group being encouraged to buy from local producers directly.
This proposal is being submitted to The BRICS summit in October. Russia has already shared with us last week that they are evolving into a Gold Standard economy in the country.
This collective shift in trade mechanisms has the capacity to transition the Global Trading Economy as the BRICS system grows.
It has ripple effects on how the Federal Reserve's suppression of gold will play out in the releasing of caps on gold in order to be competitive in Global Trading.
This move by Russia has the power to challenge the dollar under a Gold Standard regimen.
A revaluation in the gold price will profoundly affect our new tokenized assets that are backed by gold including our Stablecoins that are backed by gold. See News Youtube
"All roads lead to gold, and "digital gold" will set us free.
WATCH THE WATER.
© Goldilocks
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Yesterday, the Deutsche Bundesbank announced plans to work with the Massachusetts Institute of Technology’s Digital Currency Initiative (MIT DCI) to explore privacy and security solutions for central bank digital currency (CBDC).| Ledger Insights
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On 3 March 2024, the EU co-legislators adopted Regulation (EU) 2024/886 on instant credit transfers in euro, often called the ‘Instant Payments Regulation’ (IPR).
The IPR was published in the Official Journal of the European Union on 19 March 2024 and entered into force twenty 20 days thereafter (i.e. on 8 April 2024) the text is available here (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L_202400886).
Of course, it doesn’t mean that payment service providers (PSPs) will have to comply with all IPR rules right away, but instead, the IPR goes together with a number of key implementation deadlines. TwoBirds
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Canada's Real-Time Rail program resumes with renewed momentum | Payments
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"Project FuSSE (Fully Scalable Settlement Engine, pronounced as fyooz) is a BIS Innovation Hub project that aims to modernize financial market infrastructures for the demands of the digital age. In the face of a rapidly digitizing economy, the traditional systems face myriad challenges. FuSSE offers an open-source solution designed to meet these evolving demands head-on.
Project FuSSE marks the first collaboration between the BIS and the Inter-American Development Bank (IDB), following an agreement signed by the two institutions in September 2023. The presentation of FuSSE's progress and the official start of technical cooperation between both entities took place in Washington, D.C., in an event attended by the BIS general manager, Agustín Carstens, the president of the IDB, Ilan Goldfajn, and the governors of central banks from Chile, Colombia, and Uruguay." BIS
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What the Iraqi PM Told Iraqi People Living in the US on Thursday | Youtube
👆 Goldilocks pointed to this video
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If you missed the SNL call last night with Freedom Fighter and Jester breaking down Goldilocks posts, you can find the mp3 recording in the Archive Room Here: https://t.me/c/1570377332/39328/39735
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More News, Rumors and Opinions Sunday PM 4-21-2024
KTFA:
Clare: CEO of JPMorgan Chase expresses Support for Iraq
21st April 2024 By John Lee.
Prime Minister Mohammed Shia al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday, during his visit to the Washington DC.
During the meeting, they discussed the government's efforts in implementing financial and banking reforms, aiming to revitalize the economic situation and achieve development.
They also discussed the government's measures to develop the state-owned banking sector by contracting with leading international consulting firms specialized in banking reform. Additionally, they talked about encouraging private banks to open accounts with foreign banks to act as correspondent banks, as part of a plan to phase out the electronic platform by the end of the current year.
KTFA:
Clare: CEO of JPMorgan Chase expresses Support for Iraq
21st April 2024 By John Lee.
Prime Minister Mohammed Shia al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday, during his visit to the Washington DC.
During the meeting, they discussed the government's efforts in implementing financial and banking reforms, aiming to revitalize the economic situation and achieve development.
They also discussed the government's measures to develop the state-owned banking sector by contracting with leading international consulting firms specialized in banking reform. Additionally, they talked about encouraging private banks to open accounts with foreign banks to act as correspondent banks, as part of a plan to phase out the electronic platform by the end of the current year.
Prime Minister al-Sudani emphasized that no developmental sector can progress without reformative steps in the banking sector. He also stressed the necessity of continuing dialogue with the US Treasury, the Federal Reserve, the International Monetary Fund (IMF), and other international financial institutions.
Mr. Dimon praised the efforts of the Iraqi government in activating, developing, and rehabilitating both state-owned and private banks. He expressed his support for the activities of the Iraq Development Fund and readiness to provide expertise, assistance, training, and cooperation.
(Source: Media Office of the Prime Minister) LINK
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Clare: During Erdogan's visit...a quadripartite agreement between Iraq, Turkey, Qatar and the Emirates on the path to development
4/21/2024
Government spokesman Bassem Al-Awadi announced that it is hoped to sign a quadripartite agreement between Iraq, Turkey, Qatar and the Emirates on the path to development.
Al-Awadi said in a press statement, "The visit of Turkish President Recep Tayyip Erdogan to Baghdad tomorrow will witness a very big starting point in Iraqi-Turkish relations."
He stated that "the visit will witness the signing of two strategic agreements and more than 20 memorandums of understanding."
He pointed out that "the visit will witness the signing of a strategic agreement on the water file that will include many points and items."
Al-Awadi pointed to "an agreement between Iraq and Turkey to develop a joint approach to confront security challenges."
He noted that "the water issues for Iraq and security for Turkey are crucial issues." LINK
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Clare: Parliamentary Oil: Signs of resolving the oil dispute with Türkiye are present in Erdogan’s visit
4/21/2024
A member of the Parliamentary Oil and Gas Committee, Durgham Al-Maliki, confirmed that there are signs of resolving the oil dispute with Turkey during the visit of Turkish President Recep Tayyip Erdogan.
Al-Maliki said {to Al-Furat News}, “It is certain that Erdogan’s visit to Iraq brings many understandings between the Iraqi government and the Turkish side, to the possibility of discussing the issue of exporting the region’s oil through Turkish territory and reaching solutions with the Deputy Prime Minister for Energy Affairs and the Prime Minister.”
Al-Maliki added, "The beginnings of resolving the dispute exist because it is one of the most important outstanding issues, in addition to a number of other matters, as he will have proposals for solutions up his sleeve."
Turkish Foreign Minister Hakan Fidan stated that President Recep Tayyip Erdogan will sign, during his visit to Baghdad tomorrow, Monday, a strategic framework agreement that will become a roadmap for bilateral relations.
Fidan told reporters: “Preparations have been completed, and preliminary understandings have been reached to sign more than 20 agreements during President Erdogan’s visit to Iraq, and it is planned to sign a strategic framework agreement, which will form a road map for bilateral relations.”
Erdogan is scheduled to visit Iraq tomorrow, Monday, for the first time in 12 years.
From: Raghad Dahham LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Deepwoodz Article: "Al-Sudani: Iraq is witnessing a new reality today in the private sector" MOU’s and Sovereign Guarantees…impossible without sovereign currency that has purchasing power. We’ve learned Iraq's contracts have recently been adjusted so that payment is made in dinar...If so, contracts in the billions...paid in dinar, would require assurances that the exchange rate would not move in a negative direction...It may even go so far as to give an exchange rate. If the rate were to move negatively, the foreign contractors would lose out because the value of the agreed upon amount in reflection to their home currency would also be less. That’s a no go...Sounds freakin fantastic.
Militia Man Al Sudani...first off he shows up to Washington DC, big motorcade, heads over to the Pentagon the following day, big motorcade, comes to Michigan, what did he have? Big motorcade. He has the attention...The achievements the statesman Al Sudani has shown everybody is flat-out phenomenal...
Economic Meltdown: ZERO Cuts Signaled, Debt Auction GOES BAD, Major Currency Implodes Further
Sean Foo: 4-20-2024
Thanks to higher inflation, the Federal Reserve has signaled more delays on the rate cuts, possibly zero cuts in 2024.
This is sparking a big market correction and pushing the economy closer towards serious trouble.
We have debt auctions failing despite high yields and major currencies around the world facing further collapse.
Here's what you must know.
Timestamps & Chapters:
0:00 Powell Signals Rate Cut DELAY
3:15 US Debt Auction Big Fail
6:35 Higher Yields Massive Danger
8:52 Sponsor: IPM Bullion
10:03 Commercial Real Estate Risk
11:21 Major Currency Crash Worsens
14:38 Japan's Yen Is Trapped
John Rubino: What Do You Get When Central Banks are Panic Buying Gold?
John Rubino: What Do You Get When Central Banks are Panic Buying Gold?
Palisades Gold Radio: 4-21-2024
Tom Bodrovics welcomes back John Rubino, a former Wall Street financial analyst and author, to discuss the current bull market in gold.
Rubino asserts that gold's intrinsic value is significantly higher than its present price, which could reach $5,000 to $10,000 per ounce based on historical analysis.
He also posits that a potential collapse of the financial system due to debt could lead to a return to a gold-backed currency or a currency reset.
John Rubino: What Do You Get When Central Banks are Panic Buying Gold?
Palisades Gold Radio: 4-21-2024
Tom Bodrovics welcomes back John Rubino, a former Wall Street financial analyst and author, to discuss the current bull market in gold.
Rubino asserts that gold's intrinsic value is significantly higher than its present price, which could reach $5,000 to $10,000 per ounce based on historical analysis.
He also posits that a potential collapse of the financial system due to debt could lead to a return to a gold-backed currency or a currency reset.
They explore the implications of inflation and currency devaluation on various assets including stocks, real estate, bonds, and gold.
John argues that adjusting investment numbers for inflation offers a different perspective on asset value over time.
He warns about potential risks in the financial system, such as a commercial real estate crash or an equities bear market. He also discusses the deficit in the silver market, which could result in significant price spikes and potential defaults on futures contracts.
Despite uncertainty, John suggests investment strategies for investing in real assets like gold and silver. Investors should consider gold as a long-term investment and focus on positive goals during uncertain times to build capital for future challenges.
Gold is currently seen as a store of value, but demand for it is minimal but starting to rise. Once gold breaks through resistance and support levels, it could lead to a significant run in the market.
Time Stamp References:
0:00 – Introduction
0:45 - Gold Market Developments
4:10 - Gold Backing & Debt
8:15 - Who Will Buy US Bonds?
12:45 - Inflation Outlook
17:28 - Asset Valuations
22 :38 - Gold Drivers & Geopolitics
27:26 - Next Financial Crisis?
33:10 - Silver & Supply Issues
38:10 - Silver Industrial Demand
42:38 - Investment Demand & FOMO
47:35 - Wrap Up
Talking Points From This Episode
- Gold's potential value increase, reaching $5,000-$10,000 per ounce based on historical analysis.
- Risks of financial panic, potential scenarios like commercial real estate crash or equities bear market.
- Investment strategies proposed to protect against times of crises.
“Tidbits From TNT” Sunday 4-21-2024
TNT:
Tishwash: Parliamentary Committee: Iraq has regained its regional role and influence in the world
A member of the Parliamentary Security and Defense Committee, Muhammad Al-Shammari, confirmed today, Saturday, that Iraq has regained its regional role and influence in the world. Al-Shammari said in an interview followed by Mawazine News, “We aspire for Iraq to regain its regional and global role, and to exploit this situation to be a mediator between America and Iran to ease tensions.” Al-Shammari pointed out that "Iraq's restoration of its regional role and influence in the world could be used by the Iraqi government to establish security and stability in the Middle East and in the region in particular." link
TNT:
Tishwash: Parliamentary Committee: Iraq has regained its regional role and influence in the world
A member of the Parliamentary Security and Defense Committee, Muhammad Al-Shammari, confirmed today, Saturday, that Iraq has regained its regional role and influence in the world.
Al-Shammari said in an interview followed by Mawazine News, “We aspire for Iraq to regain its regional and global role, and to exploit this situation to be a mediator between America and Iran to ease tensions.”
Al-Shammari pointed out that "Iraq's restoration of its regional role and influence in the world could be used by the Iraqi government to establish security and stability in the Middle East and in the region in particular." link
Tishwash: Al-Alaq reveals the Central Bank’s reserve... in dollars and gold
The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced the foreign reserves in the bank.
Al-Alaq said in a press statement, “The Central Bank has a foreign reserve of more than 100 billion dollars.”
He added, "We have gold reserves of more than 130 tons, most of which are located in England."
Al-Alaq pointed out that "the volume of trade with the UAE reaches 17 billion dollars and is paid in UAE dirhams."
Al-Alaq pointed out that “First Abu Dhabi Bank is the one responsible for the commercial transfers in UAE dirhams.” link
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CandyKisses: Iraq surpasses Saudi Arabia in oil exports to the United States
The US Energy Information Administration announced on Sunday that Iraq's oil exports to the United States rose during the past week.
"The average US imports of crude oil during the past week from 8 major countries amounted to 4.832 million barrels per day, down by 265 thousand barrels per day from the previous week, which amounted to 5.097 million barrels per day," the administration said in a table.
She added that "Iraq's oil exports to America came in second place after Canada, reaching 308,000 barrels per day last week, up by 166,000 barrels per day from the previous week, which amounted to 142,000 barrels per day."
She pointed out that "the most oil revenues for America during the past week came from Canada, followed by Colombia and then Saudi Arabia."
She explained that the quantities of US imports of crude oil continued, from Mexico, Brazil, Nigeria and from Libya, while it also did not import any quantity from Ecuador and Russia.
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Tishwash: "Proposals and Obstacles"... Parliamentary Committee: Legislating the Oil and Gas Law requires the agreement of three parties
"Proposals and Obstacles"... Parliamentary Committee: Legislating the Oil and Gas Law requires the agreement of three parties
The Parliamentary Oil, Gas and Natural Resources Committee confirmed today, Saturday, that approving the draft oil and gas law requires the consensus of three parties, while it referred to proposals regarding its draft.
The Deputy Chairman of the Committee, Adnan Al-Jabri, said in an interview with (Al-Rabaa) that, “The Oil and Gas Law is one of the most important laws that must be enacted during the current session, and the Parliamentary Oil, Gas and Natural Resources Committee worked to activate the draft law or activate the legislative procedures.”
Al-Jabri added, "Legislation procedures need to prepare a draft from the government, to be discussed between the federal government and the Kurdistan Regional Government, in addition to the producing provinces, and then agreed upon and sent to the House of Representatives."
Regarding the obstacles to legislating the law, he pointed out that “the problem is that the draft has been prepared, but so far it has not been agreed upon between the productive governorates on the one hand, the Kurdistan region on the other hand, and the federal government. There are proposals by the productive governorates, proposals from the regional government, and proposals from the federal government.” ".
He continued, "The House of Representatives is waiting for all these parties to agree on a final draft, and when it is sent to the House of Representatives, it will be read first and then subject to discussion and a second reading, after which the law will be enacted. But the most important thing is that the draft comes agreed upon by all components and all Iraqi parties in the Council of Ministers." ".
He explained, "There are representatives of almost all governorates and components in the Council of Ministers, and therefore when the draft is agreed upon, the House of Representatives will not delay in approving the law." link
Mot: .. Sure Puts Things in ~~ Perspective
Mot: ..... Dang!!! -- Shes Tough!!!
News, Rumors and Opinions Sunday AM 4-21-2024
KTFA:
Frank26: "WALKINGSTICK TOLD ME... SUDANI MEETS WITH HIS BUSINESSMEN!!!"............F26
Al-Sudani: Iraq is witnessing a new reality today in the private sector
4/19/2024
Prime Minister Muhammad Shiaa Al-Sudani met today, Friday, with an elite group of Iraqi businessmen residing in the American state of Michigan, as part of his official visit to the United States.
The businessmen reviewed their companies' specializations and businesses, and expressed their willingness to be in Iraq to pursue and participate in investment opportunities available in various sectors and contribute to building their country.
KTFA:
Frank26: "WALKINGSTICK TOLD ME... SUDANI MEETS WITH HIS BUSINESSMEN!!!"............F26
Al-Sudani: Iraq is witnessing a new reality today in the private sector
4/19/2024
Prime Minister Muhammad Shiaa Al-Sudani met today, Friday, with an elite group of Iraqi businessmen residing in the American state of Michigan, as part of his official visit to the United States.
The businessmen reviewed their companies' specializations and businesses, and expressed their willingness to be in Iraq to pursue and participate in investment opportunities available in various sectors and contribute to building their country.
Al-Sudani stressed, during the meeting, that Iraq is witnessing a new reality today with regard to the private sector, explaining a series of practical steps taken by the government and the facilities it granted to the private sector. He also pointed out what has been accomplished at the level of financial and banking reform, which has increased the percentage of contracts that comply with the standards. The global rate reached 80% according to reports of international institutions.
He touched on the government's important projects in the field of the pharmaceutical industry and the housing sector, pointing to the start of establishing new residential cities, which include the construction of tens of thousands of housing units, the job opportunities they provide for young people, and the revitalization of the construction sector and dozens of related professions.
The Prime Minister urged Iraqi businessmen to seize the available investment opportunities and bring production lines to laboratories and factories in various specializations, noting that Iraq’s budget for the three years included, for the first time, providing sovereign guarantees to the private sector, in addition to establishing the Iraq Fund for Development, which will work with this. The sector is implementing vital and important projects, which contribute to moving the wheel of the economy and implementing the government’s vision for sustainable development and a strong and prosperous Iraq. LINK
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Frank26: "THE GOV STAYED BEHIND TO DEAL WITH THE MONETARY REFORM PROOF".......F26
The Governor of the Central Bank of Iraq speaks to Al-Hurra about restructuring the country's banks
Alhurra – Washington April 20, 2024
The Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed in an interview with Al-Hurra TV that Iraq has begun the process of “restructuring Iraqi banks” and has a broad plan to “reform the banks” by attracting strategic partners to modernize the Iraqi government banking system.
Al-Alaq confirmed that “investigations are continuing regarding the work of the violating Iraqi banks,” noting the formation of a committee with the US Treasury Department and the Federal Reserve “to correct the violations of the sanctioned banks.”
The full interview will be broadcast as part of the Iraqi program, on the Al-Hurra Iraq channel, Sunday, at 11:00 pm Baghdad time. (THE GOV OF THE CBI IS GOING TO MAKE AN ANNOUNCEMENT TO THE IRAQI CITIZENS -F26)
Al-Alaq pointed out that “an American company has been assigned to audit the work of these banks,” and its results will be presented to the Iraqi government and the American side to take a decision on it.
In late 2022, the Iraqi banking sector adopted the SWIFT electronic transfer system with the aim of providing better control over the use of the dollar, ensuring compliance with US sanctions on Tehran, and also in order to limit the prosperity of the informal economy.
The financial standards that were adopted encouraged the emergence of a parallel market for currencies, attracting those seeking to obtain the dollar outside official channels.
The governor expressed his support for fair competition between private and government banks to diversify revenue sources, but he explained that citizens prefer to deal with government banks.
Al-Alaq stated that the Iraqi government delegation visiting Washington agreed to discuss the file of Iraqi banks punished by the US Treasury and deprived of dealing in dollars in Iraq, adding that the visit indicates his country’s connection to the United States financially and economically.
To ensure compliance with American standards regarding money laundering and sanctions on Iran, about 20 Iraqi banks were prevented from making dollar transfers, but they still operate in Iraq using the dinar.
The banking sector in Iraq has adopted an electronic platform, the aim of which is to monitor the uses of the dollar and tighten control over a thriving informal economy, while tax evasion attracts some importers and traders.
Al-Alaq spoke about Iraqi funds in the Federal Reserve, pointing out that Iraq invests its money from inside and outside the United States, noting that Baghdad’s financial relationship with Washington is “close” and characterized by “continuous coordination and understanding,” stressing Iraq’s openness and compliance with the rules of financial institutions in the world.
The governor stressed that the Central Bank closely monitors suspicious financial fraud operations and always warns against them, and pointed out that there are precise steps to prevent citizens from falling victim to financial fraud.
Regarding the government's economic priority, Al-Alaq said that reducing foreign debt is the first goal of his government, as it was able to reduce debt to reach 9 billion dollars. While the internal debt constitutes a value of 70 trillion Iraqi dinars, he also explained that the central bank was able to reduce the inflation rate from 7.5 percent to about 3.8 percent despite what he described as challenges.
Al-Alaq stressed that "the Iraqi government is focusing on the economy, services and infrastructure," stressing the need for Iraq to arrange its financial policies in a manner consistent with international financial standards to diversify sources of income.
The Central Bank of Iraq announced in a statement that it had decided, as of January, “to limit all commercial and other transactions to the Iraqi dinar instead of the dollar” inside the country.
While the dollar can be naturally withdrawn in cash from previously existing deposits in hard currency, starting in 2024, it will become necessary to withdraw every money transfer from abroad in dinars exclusively and according to the official exchange rate.
Al-Allaq heads the Iraqi delegation participating in the 2024 spring meetings of the International Monetary Fund and the World Bank Group, which will be held in Washington, D.C., until April 20.
Regarding Iraq's relationship with the World Bank and the International Monetary Fund, the governor confirmed that it is strong - as Iraq needs their efforts, coordination and consultation, revealing that Iraq is addressing the International Monetary Fund for the purpose of cooperation and providing technical support, indicating that the Fund welcomes this cooperation.
He said that a delegation from the International Monetary Fund will visit Iraq soon to start this program. LINK
Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat Remember...the Oil and Gas law looms in the background and will surface again soon. Also after this visit to Washington I fully expect the announcement of Iraq’s full accession to the WTO to pop out shortly. Oh…it’s all so good!
Frank26 It seems to me the pattern of these bank stories that I've been receiving are changing more in the direction that, 'Yeah, we know. We don't know when. We don't know what to tell you. We don't know how much...but yeah we know what's going on.'
Suzie I know with all the forthcoming intel/info we've had..., the promise made by Sudani to the people...we all are speculating the next move shortly from Iraq as the blessing we've all (including the Iraqis) long awaited, I hope and pray we're not setting ourselves up for another disappointment from more of Iraq's capabilities for another set back like we've been used to seeing....praying for all this to go well this time around with no more delays.
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Lotta noises about the IQD
Nader: 4-20-2024
What the Iraqi PM Told Iraqi People Living in the US on Thursday
Edu Matrix: 4-20-2024
What the Iraqi PM Told Iraqi People Living in the US on Thursday - There are over 90,000 Iraqis living in the State of Michigan, which the PM visited on Thursday, the 18th of the past week. The PM also met with the President of JP Morgan.