KTFA Members "News and Views" Tuesday 3-9-2021
KTFA:
JJimmyJJ: This isn't proposing to be a summary, it is only my opinion of what I heard tonight from Frank and Walkingstick (thanks guys!), so take it for what it's worth. If the mods want to delete this because it isn't official, I won't be offended. But, here is what I think I heard tonight about what the next parts of the plan are for the Iraqi dinar:
1) Planning is done.
They are done with the plan to announce 1:1 in country. The announcement of the NSCNs (lower denoms) is part of that. No date for when they'll announce it all, but it SHOULD be soon--not months. More likely days or weeks.
2) Benchmarks for 3-zero note recovery.
After the announcement of the 1:1 rate change and the NSCNs, they are going to be monitoring the rate of recovery of the 3 zero notes. In other words, they have a target for how many "mattress dinars" are turned into the banking system. Once they recover a certain number count AND a certain monetary amount back into the CBI, this (along with other, unknown benchmarks) will trip another change of the rate inside Iraq (increasing the rate again). No timeframe, but perhaps weeks or months.
3) 3-Zero note exchange deadline
There will also be a timeline given for when the 3 zero notes must be turned into the CBI (inside Iraq, not outside Iraq). If you are within Iraq and miss that deadline, your notes will be worthless. Once that deadline is passed, they will raise the rate inside Iraq again. Perhaps to around $4.25 to 1 dinar. No timeline on when this will happen.
Once #1 above happens, the demand within the international market will force the exchange rate for the Iraqi dinar outside Iraq to begin to rise.
Thanks again to Frank for his conference call tonight, and to WS and the other team members for bringing this to us. My apologies for what I missed and/or misunderstood.
Oh, and to quote Frank, all this is IMO
Clare: NICE SUMMARY HOWEVER...I WOULD LIKE TO POINT OUT A CORRECTION.... FRANK SAID THE $4.25 WAS THE CAP INTERNATIONALLY IN HIS OPINON...
AFTER THE 1-1 AT THE ONSET, THERE WILL BE ANOTHER RATE INCREASE INSIDE OF IRAQ. FRANK SAID THE RATE & TIMEFRAME WAS UNKNOWN OF THAT 2ND INCREASE.... imo
Monday Night KTFA CC: 3-8-21......IMO.....123......THIS IS IT
TUESDAY -FROM FRANK....TONIGHT!!! YOUTUBE WITH FRANK @ 7PM EST....
AND FOR THE FIRST TIME EVER!!!....WALKINGSTICK WILL JOIN FRANK VIA EARBUD ON THE PHONE
TO ANSWER QUESTIONS FROM MILITIA MAN & PETRA ON LAST NIGHT'S INFORMATION!!!
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Samson: Iraq declares an official holiday
9th March 2021
The Cabinet decided to suspend official working hours tomorrow, Wednesday, in the capital, Baghdad, on the occasion of the anniversary of the death of Imam Musa bin Jaafar al-Kadhim.
In a brief statement received by Shafaq News, the council excluded the service and security departments from the holiday.
In the meantime, the governorate of Baghdad announced the suspension of the official working hours on Wednesday and Thursday for all its departments, with the exception of health and municipal institutions, for the same occasion.
The local government in the Iraqi capital said in a statement that the suspension of work hours will include all departments and directorates of Baghdad governorate, with the exception of health institutions and the municipality, to ensure the continuation of the provision of treatment and municipal services.
The governorates of Maysan, Wasit and Karbala, which are predominantly Shiite, decided to suspend work hours in their departments and institutions tomorrow, Wednesday, for the same occasion.
The Imami Shiite Muslims in Iraq commemorate the death of the seventh imam, Musa bin Jaafar bin Muhammad bin Ali bin al-Hussein bin Ali bin Abi Talib on the 25th of Rajab every year, as millions of visitors flock to the shrine in the city of Al-Kazemi, north of the capital, Baghdad. LINK
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Samson: Iran is waiting for Iraq to pay its debts, and the Finance Minister: is on the list of priorities
9th March, 2021
The Iranian ambassador in Baghdad, Iraj Masjedi, held a meeting with the Iraqi Finance Minister, Abdul Amir Allawi; To discuss the issue of recovering the frozen Iranian assets in Iraq
The meeting between Allawi and Masjedi, which was held yesterday, Monday, dealt with the political atmosphere between the two countries and the mechanisms for paying Iran's financial demands from the Iraqi side, according to IRNA. In addition, Iraqi Finance Minister Ali Allawi stressed that "Iran's financial demands are on the list of priorities and that the necessary estimates have been drawn up in this regard
It is noteworthy, that Iran is asking Iraq sums of money worth 6 billion dollars, in return for its exports of electricity and gas to this Iraq. It is noteworthy that Iranian Energy Minister Reza Ardakanian said at the end of 2020 that his country had received about 700 thousand dollars from Iraq in exchange for electricity and gas exports
Ardakanian added that during his visit to Iraq, meetings were held, and good agreements were reached regarding dues to export electricity and gas to Iraq. The Minister of Energy also said, (December 29, 2020), that Iran will pay for the purchase of the Corona vaccine from Europe with its own money in Iraq
Earlier, the Iraqi Ministry of Electricity warned that a number of cities, including the capital, Baghdad, are at risk of power outages due to the decline in Iranian electricity exports LINK