More News, Rumors and Opinions Sunday PM 9-15-2024
KTFA:
Frank26: "BECAUSE THE WRONG PATH WAS A PROGRAM RATE"..........F26
Al-Sudani: Iraq today is on the right path
9/14/2024
Prime Minister Mohammed Shia Al-Sudani, during a dialogue seminar by the Anki Foundation for Studies and Research on the path to development, in the presence of Mr. Al-Hakim:
Iraq depends on oil as the only source to cover its expenses, which have begun to increase.
The development path needs more study and clarification.
We must think properly to activate sectors that support oil.
- There must be projects that suit Iraq to be a focus of development.
We have started establishing and implementing the development road project, which will transform Iraq into an open country.
We have unnatural materials that have not been exploited in industries and the strategic location of Iraq.
We are in the planning, design and other studies phase and we have approached the World Bank to begin implementing the development road from Basra to Mosul.
Capital finds opportunity in Iraq amid security and political stability
- Many capitals want to invest in Iraq
Iraq today is on the right track LINK
************
Frank26: "WHY?... BECAUSE... THE MONETARY REFORM DEMANDS THIS"..........F26
Al-Alaq: The number of digital banks in Iraq will be greater than neighboring countries
9/14/2024
The Governor of the Central Bank of Iraq expected, on Saturday, that the number of digital banks in the country would increase and be larger than in neighboring countries.
This came during his hosting of the activities of the Electronic Payment Conference towards Financial Stability in Iraq, which was launched in the capital, Baghdad, and was attended by a Shafaq News Agency correspondent.
Al-Alaq said during the hosting that “the experience of digital banks in the world is an experience that indicates a shift towards an approach that is completely consistent with technical developments and employing them in a direction that serves various operations.”
He added, "Digital banks are widely spread in the world, and the volume of financial transactions for these banks has reached about 5 trillion annually, and it is hoped that the number will reach about 7 trillion dollars by the year 2027."
Al-Alaq also pointed out that this is an important indicator that calls on us to stimulate this aspect, focus on it and push it forward, adding that “Iraq will be one of the countries that will advance in digital banks that occupy an important space, and the number of these banks in Iraq will be greater than in neighboring countries.”
He continued by saying, "Before launching the licensing round for digital banks, the Central Bank conducted in-depth studies and reviewed the experiences of other countries extensively until we set the necessary rules and controls to license this type of bank."
The Central Bank Governor concluded his speech by saying, “We were surprised that the number of applicants to establish digital banks exceeded 70 banks,” stressing that “the Central Bank is studying the applications to establish digital banks, sorting them out, and selecting a limited number of them.” LINK
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
Mr Sammy [Iraqi bank manager friend] says we are in charge of our own money. It's not being overseen by the US Treasury. FRANK: This is the most powerful thing I can share with you tonight...IMO when Alaq came back he told everybody there's no more sanctions on the banks of Iraq...That means your program rate does not exist anymore. FIREFLY: Mr Sammy says they are running the new system...This new system will remain for the rest of the year...This monetary reform education phase we're in right now will last for this whole year... [Post 1 of 2....stay tuned]
Frank26 [Iraq boots-on-the-ground report] FRANK: Mr. Sammy and I are on the same page. The only difference is he's turning the page a little slower than I am. I do not see this going into next year. Actually it's impossible. I see the monetary reform education...commercials...US Treasury revealing to you all sanctions have been release, which tells me we are extremely close...Mr Sammy...tells you it's coming at the end of the year or beginning, I tell you it's now... [Post 2 of 2]
************
Fed’s Own Charts Show Dollar’s Purchasing Power Heading to Zero, Hyperinflation Next – Lynette Zang
Kitco News: 9-15-2024
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Lynette Zang, Founder & CEO of Zang Enterprises, who warns that the transition to hyperinflation has already begun.
Zang says to expect tremendous market volatility in 2025, adding that the public will start losing confidence in the U.S. dollar.
She also breaks down the latest developments when it comes to the health of the U.S. banking sector, her recession outlook, global monetary system shifts, and the role that gold plays.
Zang also shares her gold price outlook and how to prepare for the coming economic uncertainty.
00:00:00 Coming Up
00:01:42 Introduction: Health of the Banking Sector
00:04:54 Currency Life Cycles
00:07:25 Global Reserve Currencies
00:14:42 Economic Indicators and Recession Outlook
00:21:01 Hyperinflation Concerns
00:37:01 Banking System Collapse and Bail-ins
00:46:50 FDIC, Public Perception, Banking Confidence
00:52:33 The Role of Gold in Economic Stability
01:00:27 Global Monetary System Shifts
01:11:37 Preparing for Economic Uncertainty