KTFA:

Buckeyetree:  I liked Militia Man's words from his discussion with Petra posted in Final Article Below….As follows:  "Everyone is not only ready, but they are in need."

Those words summed up their discussion in that one statement. I would say that everyone is reference to the countries and big banks dealing with Iraq, but I include the idea of everyone being ready as all of us who have been waiting along with them.

End of June would be end of the 2nd quarter of the year less than 3 weeks. May all be done sooner than later. It seems like the big banks, WB and BIS, are looking to get it done.

FROM MM & PETRA:

MilitiaMan:  Everything is coming true? Well not sure everything but many things are ringing true.. imo.. One thing I note to day was the SWISS / FRANCE did a digital cross border payment test / experiment. Interesting timing of that. Why? Well to me is because the Swiss have money to give back to Iraq and France has deals with Iraq. The Swiss are very well versed in Banking and for many many moons.. lol Digital Euro? Digital Dollar in the BUNA, Digital currencies were a theme at the meetings the last month real close. Digital; currency swaps .. That is a massive sign.

Those 500 Bankers and Central Bankers were all about the digital transformation to come. The UST told us last Saturday they have ACIEVED GLOBAL REFORMS... Yet, the infuse 500 billion into the REPO markets daily.. That is not sustainable. They need to adjust imo immediately.. Hence we see imo the SWISS / FRENCH test if you will.. WOW! ........MilitiaMan

https://www.ledgerinsights.com/central-banks-of-switzerland-france-in-wholesale-cbdc-trial/

Petra:  Good stuff up above MM.... I read the article MM that the link you sent good stuff.

MilitiaMan:  So they did testing 6 months ago too.. "Six months ago, the Swiss National Bank shared the results of Project Helvetia, where the conclusion was it was a success, but more work is needed." So more work has been initiated.. imo........

Petra:  Ok, I will be serious. One must ask....why Switzerland? Why didn't France go to Belgium or Germany to do the "test!" Switzerland is the story!!....PETRA

MilitiaMan:  So more work has been initiated.. imo…

Why is the world Bank so giving now? lol "With regard to the role of the World Bank in improving Iraq’s economy, Numan stated that “the Bank is working with the Government of Iraq to implement the reform items that it has drawn up, and we are working through all our projects to approach the economic crises that we have previously identified, and all the projects we undertake are within the framework of supporting the paper White reform. He pointed out that "Iraq has drawn up a policy to improve the country's economic reality by adhering to the reform white paper approved by the Council of Ministers, and work has begun to implement its contents.""….. There you go. They are implementing the WPs…

Petra:  I had opined the other day the amount of interaction the WB was having with Iraq. They are definitely at the back...pushing!

MilitiaMan:  This was today.. "Today the Swiss National Bank announced it’s participating in a wholesale central bank digital currency (CBDC) trial with the Banque de France, and the BIS Innovation Hub. The solution aims to use the digital Swiss Franc and digital Euro to settle cross border trades for financial instruments such as stock or bonds on a blockchain. The central banks don’t want the tests to be interpreted as a decision to launch a CBDC."….

Look at the targets.. "Benoît Cœuré, Head of the BIS Innovation Hub, also involved in Project Helvetia, observed that Project Jura complements other BIS work that targets a G20 goal to improve cross border payments. The BIS is participating in a multi-CBDC trial in Asia with the central banks of Hong Kong, Thailand, China and the UAE. Plus, there’s another test with the Monetary Authority of Singapore, Project Dunbar, for a single distributed ledger system to be used for multi-CBDC cross border payments by commercial banks."

Petra:  Thanks MM....I have a theory on that but need to noodle on it! I find it interesting they are moving this direction...with the BIS involved. No mention of WB or IMF....this is farther along IMO…

MilitiaMan:  Well the G-7 and UST said they "Achieved Global Reform" on Saturday last. Then the World bank on Tuesday says they are working with Iraq on the WP reforms.. See the connections. SWISS and France going for cross Border settlements in CBDC... No coincidences.. imo

Petra:  No. And when they "talk" about it...you know it's much farther along. This is all Fintech....great way to work out the currency swaps! Time for those swaps to come home!!!! IMO..

MilitiaMan:  The key is the UST has given the NOD if you will.

Petra:  Yes. And I am hoping while Mr. Biden is talking that the real business is being done down the street. They are all in town anyway...why waste a good business lunch!!!

MilitiaMan:  The testing 6 months ago was a success.. Work was still needed, but, they said it was a success back then.. 6 months has passed.. A Lot of work can be done in 6 months. Iraq Devalued 6 months ago, real close...

Petra:  Yes MM. And they are good at hiding it but leaving just enough information for speculators on both sides of the equation to be aware. Change is coming and we are sending out the warning flags. This week at G7....QFS...UST Decision. And now BIS stepping up with new cross-border payment "testing."

MilitiaMan:  That my friend is a very good point about warning flags.. The REPO market is SCREAMING ICBERG AHEAD!!!! While the Ship is at full speed...

Petra:  Yes. And you know these very subjects were addressed as I believe I saw the agenda including many "digital" discussions.

MilitiaMan:  They have to act... To not .. The ship (GLOBE) is going to the bottom and quick.. imo

Petra:  I think MM and I would agree. But, what is sticking in my head is that 3B that CBI just through out there to "calm" the markets.

MilitiaMan:  FIMA - CML was put in place for this.. imo…

I am still thinking that is not a calming effect. I think that may be more likely to be a different sort of Calming effect. Spending 5% of reserves still reeks of what will calm the people and the markets.. That is the mechanism we await.

The mechanism will calm the street and the vendors.. As they will not be needed any more.. Or at least as they are being used now.. imo.. Digital makes them go away..

What if the issue 3 billion worth of NSCNs?  (New Small Category Notes) That would be one qualude to the market .. lol….

They know they have to bleed the citizens as fast as possible. Hence the threats of 1600 and 2000... Sadly those that fall for it will be kicking themselves then they'll be hunting down those that took advantage and even possibly return the favor.. lol…

Petra:  Well yes. By Iraq moving to a digital marketplace (Visa/MC) and reducing significantly the use of "Cash" drives the digital strategy. So, why would they need exchangers? They would not! When the CBI changes the rate, or holds a rate, fine! It's all digital, and nobody can game the system anymore. Money changers will be looking for a new job VERY soon. IMO…

MilitiaMan:  Squeeze play.. Is on.. " They added that one of the most prominent problems they suffer from is that "the bank's branches force the owners of electronic outlets and exchange companies to receive small paper currencies of the category (5-10) thousand dinars, and they refuse to hand over the amounts they want to withdraw in large denominations."

They explained that "this matter represents a security crisis for them, as they will have to carry and move large amounts of money, noting that some of their outlets are about 60 or 801 km away from the bank's branches, in addition to their financial losses because many of these small paper currencies are damaged and cannot be exchanged for customers."" Imo…. They may be looking for another place to live too.. imo

Petra:  To have some abstract thinking MM..........what if this BIS/France/Swiss "testing" is not a "test" but a DEMONSTRATION to all the CB's in the world. To show at least the digital portion of the transaction can occur in seconds on the Blockchain!!!!! They can talk about their crypto currencies later but what if this is a "hidden" factor for large transnational currency swaps. oooooohhhhhh I am liking this thought!!!! And with less oxygen!!!!!

MilitiaMan:  Lol Petra... They already said they had success, so I can see your theory as being potentially spot on!

Petra:  That’s where the thought came from. If they "test" on the basics was done....then the "Final Exam" to show the world they can do it. Then perfect! Oh yes, and who is overseeing all this?? The BIS!!!!

MilitiaMan:  Look at all the names they dropped in that link and then look at all the #s at the bottom.. They all have #s lol They are already getting attention..

Who has been gathering the all the Bankers? Yep.. BIS…

K has been in the news giving his support to the country.. "“The government managed, despite the heavy legacy and great challenges, to accomplish important steps on the path of reform, and to save the country financially and economically, and it is trying hard, with plans and strategies that have been completed.” preparing it to put the country on the right pat"…

So he is telling us that the accomplished important steps to fixt the country financially and economically. That is MR and ER... They have it now being implemented.. imo…

Think new system. Think new TEST with the cross border payments.. "The banking system is required to have plans that support development."..

"In turn, the financial affairs specialist, Faeq Nasser, said that "the development of the private banking system and its adoption of advanced technology, which is relied on in international banks, contribute greatly to addressing all economic problems, as it will provide the necessary funding for important projects.""

They will have transparency.. Advanced technology requires it.. imo…

Petra:  Well there you go MM. That's right from the horses mouth...so to say.

MilitiaMan:  In other words.. Do you have the new system in place and ready to go ERBIL? "The meeting also touched on the need to review the banking system in the region to support investments and investors and strengthen the private sector. The meeting also discussed the issue of implementing the general budget law for the year 2021, where the US Consul expressed his full support for the government's efforts in this regard."…

No kidding right.. We support the move to a market economy and so by that along with the WB show us the rate already.. lol…..

Petra,, Just thinking.. This is not billions.. This is merely "" hndreds of milions 200 real close a day..""The increase in central bank sales for the purpose of reducing the price of the dollar because there is a rise in prices and monetary inflation, so the bank tries to stabilize the financial market and prevent and limit speculation, pumping quantities and creating a balance between supply and demand because economic activity in general is weak and not at the required level.""

Dont' forget the CBI need coordination... They imo are fully aware of the action on the street.

IMO that is where I am leaning to.. That 3 billion is not hundreds of millions..

Petra:  Yes MM. no question CBI has their eyes all over it. Not to mention tempering perception on the streets!This is all being set up for the big reveal IMO. Why did they wait until now to do this? Execution of a strategy!..

MilitiaMan:  Take it into a business sense now.. Who is talking about supporting reforms? The USA is, Great Britain is and so is the World Bank…

Yes, $3 billion at a new rate is not a lot of currency..

That is why, I keep coming back to that issue…. Spending 5% of current reserves makes little sense when they are to go to a market economy. When I say the USA, GB and the WB are in support, they are almost literally telling them to go now.. We have your back….

Petra:  Yes. Support is strong and timing, based on our previous discussion…the mechanisms are ready. Digital plus rate are the 2 mechanisms of which I infer…They want to control the release of the NSCN’s in order to force the digital economy… So how much cash needs to be out there in circulation is the question........

MilitiaMan:  Petra, think about this idea.. They know the street is inflationary.. They are using millions to stabilize the rate.not billions. But, they are working to keep it stable. Thus, when theydo change the rate if they happen to be stable.. Then my view is that they will have a better rate than 1460 can offer.. Make sense? lol...

"it is noteworthy that the local markets in Iraq have witnessed a significant rise in the exchange rate of the dollar for days, which exceeded more than 1500 dinars."

"The Central Bank also sold through the currency auction, and for the second day, the highest amount of the dollar, as it exceeded today, Thursday, 218 million dollars, which is an unprecedented amount since the bank raised the price of the dollar on January 19 last."

Notice not billions.. They even got the day and month wrong.....

Petra:  Absolutely MM. it’s all about the math now. The street speculation and fear of loss has got to stop. This money is a short term stopgap imo.

Got it MM….therefore we both are right. Millions is a short term solution. Tick tock!...
 
MilitiaMan:  Petra... "Iraq has signed a heads-of-agreement deal with French firm Total (TOTF.PA) spanning four projects involving natural gas, solar energy and seawater reprocessing, the oil ministry said on Monday. ... The agreement was signed during a visit by Total CEO Patrick Pouyanne, it said. Mar 29, 2021"...SWISS / FRANCE today.. Like I said... ENERGY..BINGO..

Petra:  The squeeze is happening...

MilitiaMan: This doesn't add into the billions very fast.. imo "The statement added," The increase will be as shown below: The share of the bank is $300,000 per week - the share of a class A exchange company is $2,200,000 per week - the share of a class B exchange company is $750,000 per week The share of the Class C exchange company is $70,000 per week."...

Petra:  The math to billions doesn’t play out at those numbers MM. something else is afoot....

MilitiaMan:  The move is on folks.. big time imo... "The Minister of Oil issues a directive regarding major investment projects"Talabani confirms the readiness of the Kurdistan government to support American investors in the region"“the Bank is working with the Government of Iraq to implement the reform items that it has drawn up, and we are working through all our projects to approach the economic crises that we have previously identified, and all the projects we undertake are within the framework of supporting the paper White reform. He pointed out that "Iraq has drawn up a policy to improve the country's economic reality by adhering to the reform white paper approved by the Council of Ministers, and work has begun to implement its contents."...

Petra:  This all takes….funding. WP execution. But, all have great plans as you have indicated MM but nothing is EXECUTED until the RI of the IQD...

That has started or they wouldn't have had the interconnection with the new test.. imo... EVERYONE is not only ready, they are in need..

Petra:  That’s where we are going MM. in support of our theories an hour or so ago. The data supports the theory. Evidence that demands a verdict!!!..

MilitiaMan:  The GCC is linked digitally.. BUNA. He pointed out that the Iraqi market is a very important market for Bahraini exports, and this is evident through the growth of those exports by up to 47 percent in the year 2020 compared to 2019. He added that there are aspirations and a serious will from the Gulf Cooperation Council countries towards increasing economic and investment cooperation with the Republic of Iraq as a basis for development and prosperity in the Arab region. He noted the importance of his meeting with the delegation of the Bahrain Chamber of Commerce and Industry to allow the Iraqi side to study the best ways to activate cooperation between the two countries commercially and economically. "activate cooperation " We are witnessing the roll out.. imo..

Petra:   Buna is THE platform!! Integration, digital, transnational trade…all….waiting..And ongoing planning to insure success!...

MilitiaMan:  They are seriously showing regional reconciliation and global.. imo..This is about the Oil market! "A member of the Parliamentary Finance Committee, Salim Cougar, confirmed, on Thursday, that the rise in the oil price will provide cash liquidity, and the Central Bank has allocated three billion to control the market." This is about financial liquidity for imports.. "Cougar said in a statement to the agency / Information / that "the rise in oil prices will provide cash liquidity, and the Central Bank has allocated three billion dollars to control the market and raise prices," noting that "financial liquidity will control the price of food and commercial products."" 

Not the exchange rate. He goes on.. Talks about the Auctions. It is not $3 bilion.. "He added that "the central bank has sold 460 million dollars in the currency auction to control the market prices," noting that "the rise of the dollar is the result of supply and demand."" 
460 million...

Petra:  Yes they are. Sure a lot of talk!! Most GCC countries are engaged. AMF is active in the background with the WB holding their hand to get them to the endgame! IMO....Well, if that’s the case MM…then the $3B is for…..P

MilitiaMan:  The $3 billion may have had to have to clear the import ledger.. That is imo to be expected at the last push to the market economy.. ? imo.... MilitiaMan

Petra:  They are using the same reason for the auctions as for the liquidity and price stability. imo  Of the $3b.....