KTFA Members "News and Views" Wednesday 5-5-2021
KTFA:
Clare: FROM FRANK: KTFA FAMILY ................ JUST FOUND OUT THAT WS (WalkingStick) MADE IT THRU THE OPERATION….. PRAISE GOD .........................
HE IS RESTING .........
TY KINDLY FOR YOUR PRAYERS AND SUPPORT ................ FRANK26
Bambi: I haven't heard much about Executive Order 13303 in a while so I looked it up again. The original date is May 22, 2003. HMMMMM...
Executive Order 13303 was issued on May 22, 2003 by United States President George W. Bush to protect the Development Fund for Iraq for the rebuilding of Iraq from any legal attachments or liens. Further, it protects Iraqi oil products and interests and ownership by US persons (defined to include US corporations) from attachment as well.
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BearCinnebar: Here are some meat & potato documents from the International Monetary Fund IMF: for the new people we have introduced KTFA to: THANK YOU FOR THIS POST TO BE ALLOWED:
HERE ARE THE LATEST IMF INTERNATIONAL MONETARY FUND REPORTS GIVING IRAQ DIRECTIVES: THE GREEN LIGHT IN DECEMBER 2020: AND FOR SWIFT IMPLEMENTATION FEBRUARY 2021:
IMF Staff Completes 2020 Article IV Mission with Iraq
December 12, 2020
HERE IS WHAT IS IMPORTANT: 7TH PARAGRAPH:
“A decisive strategy to reform the large state-owned banks and level the playing field ( to be on par with the American Dollar ) in the financial sector will enable private sector development and secure financial stability.
AND
IMF Executive Board Concludes 2020 Article IV Consultation with Iraq
February 11, 2021
HERE IS WHAT IS IMPORTANT: 7TH PARAGRAPH:
They welcomed the authorities’ planned fiscal reforms in the “White Paper” and encouraged their careful prioritization and swift implementation while minimizing the impact on the vulnerable.
REMEMBER TO THANK FRANK26 & MILITIAMAN FOR GIVING US THESE DOCUMENTS!
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Samson: China announces the imminent launch of the agreement with Iraq .. 30 billion volume of trade initiative
5th May, 2021
Today, Wednesday, China announced the imminent activation of the agreement with Iraq, while revealing that the annual volume of exchange between the two countries has reached 30 billion dollars.
"The annual volume of exchange exceeded 30 billion dollars annually," said Chinese Commercial Counselor Xu Chun, during a press conference with Chinese Vice Ambassador Jian Fangning, through a closed circuit to introduce the Chinese development achievements and the development of economic and trade relations between Iraq and China. 2019, the volume of exchange reached 33 billion and 300 million dollars, but last year it decreased to 30 billion and 200 million dollars, as a result of the decline in world oil prices.
He added that "China is still considered the largest importer of Iraqi crude oil despite the decrease in imports due to the repercussions of the Corona pandemic."
On the date of implementation of the agreement signed between Iraq and China, he explained that "the Chinese Sancho Foundation is working closely with the Iraqi Ministry of Finance and the Central Bank to address technical issues," stressing that "the Sino-Iraqi agreement will be activated as soon as possible and there is a serious intention in this regard." LINK
Samson: The judiciary examines the procedures for implementing the investment law
5th May, 2021
Today, Wednesday, the President of the Supreme Judicial Council, Judge Faiq Zeidan, discussed with the President of the National Investment Authority the authority’s procedures in implementing the investment law.
A statement of the Judicial Council, of which the Tigris received a copy, stated that “the President of the Supreme Judicial Council, Judge Faik Zidan, received today, Suha Dawood Al-Najjar, Chairman of the National Investment Authority.”
The statement added, "The meeting discussed the Commission’s procedures for implementing the investment law." LINK
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Samson: Baghdad's ambassador in Rome to RT: We asked Italy's help to lift the seizure of Iraq's funds frozen in its banks
4th May, 2021
Tuesday, the Iraqi ambassador to Italy, Safia Al-Suhail, revealed that her country submitted a request to the Italian government to lift the seizure of Iraq's funds frozen in its banks.
He told RT, "The request includes Iraqi funds frozen before 2003 in Italian banks."
She added, "The Italian Foreign Minister affirmed his country's keenness to solve this problem to recover the funds of the frozen Iraqi accounts in his country's banks."
Al-Suhail emphasized Iraq's desire to strengthen its relations and openness towards economic relations with Italy, and called on Italian companies to invest in reconstruction projects and expand cooperation in the sectors of culture, education and tourism.
The funds of the former Iraqi regime and those connected to it were frozen in 1990 by UN Security Council Resolutions 660 and 661, against the backdrop of Saddam Hussein’s regime’s invasion of Kuwait.
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Samson: China invades the world of digital currencies with "Xia"
5th May, 2021
In an attempt to establish its dominance early on the encrypted digital currency market, approved by governments around the world, China launched the "Xia" digital currency, the first cryptocurrency, as part of its plans to find alternatives that reduce the dollar's control over global payments.
According to official data, China aims to make its digital currencies on a wide-ranging exchange list, and to quickly adopt them in the financial, corporate, commercial and government sectors, to become competitors to the most famous Bitcoin counterparts. Although digital currencies are considered the future, they create problems for governments that control the money supply, and do not favor exchanging money with a technological alternative.
Last Monday, the start-up "Xia", which is based in China, launched its digital currency through which it seeks to reinvent digital money, to become the first private cryptocurrency called "Chia" with government approval. The "Shea" platform began its trial operation on 19 March. China's move to launch cryptocurrencies came after the record highs of the Bitcoin currency, which currently exceed levels of 56 thousand dollars per unit, compared to less than 7 thousand dollars two years ago.
This comes along with the Chinese authorities unofficially launching their digital currency, the yuan, last February, becoming the first major economies to introduce a government digital currency. According to the data released, the "Chia" project has undergone development for more than 3 years, during which the entity responsible for development has raised about $ 3 million in the first round of financing for 2018, and since then it has raised $ 28 million in two additional rounds.
Advantages of Chinese currencies
The new Chinese currencies differ from the known cryptocurrencies, which are decentralized and unsecured, unlike Chinese currencies, which will be approved by the central bank and guaranteed as legal currency by the state. Thus, digital transactions will be subject to the supervision of the Central Bank and help in combating money laundering and terrorist financing.
The "Shea" platform relies on blockchain technology and hard disk storage capacity in the process of extracting the currency, unlike Bitcoin, which consumes large amounts of energy during its mining. China plans to make its digital currency an alternative to traditional financial networks, to provide a safe and energy-efficient network for modern financing and payments. "Xia" significantly reduces energy consumption and environmental pollution, which makes it preferred over other currencies such as Bitcoin, Ethereum and thousands of other currencies.
In a previous statement, Xia said that using the cryptocurrency should be easier than using banknotes, more difficult to lose, and almost impossible to steal. The company added that it aims to sell software services and smart transaction software to governments, financial institutions, companies and major buyers. It added that it plans to publicly list its digital currency in the future, through which it will mainly allow the backers to treat its shares as an exchange-traded fund for the "Xia" digital currency.
The number of encrypted digital currencies around the world is about 5,120, with a market value of more than $ 2.275 trillion as of Tuesday morning, with Bitcoin acquiring the largest share of them, by 46 percent, at a value of $ 1.05 trillion. Investors in virtual currencies are finding a feasible investment tool, after the decline in gold prices and the dollar, which over the past nine months have formed a safe haven for dealers due to the Corona virus. The idea of "virtual currencies", including "Bitcoin", appeared in Japan at the end of 2008, and it did not obtain coverage for its value in gold or foreign currencies, and it has nothing to do with central banks. LINK