MilitiaMan Saturday Night "Counterfeiting, Coins and a New Rate" 2-15-2020

KTFA:

Don961:  The US Treasury publishes a video that includes simple steps to reveal the "fake" dollar
(YOUTUBE VIDEO LINK)

Localities 02/15 2020 17:28 500    Baghdad today - follow up

The US Treasury Department released an explanatory video, which includes simple steps through which the "counterfeit currency" of a dollar can be distinguished from various categories from non-counterfeit.
The video also included an introduction to how to understand the key security features common to all banknotes in the United States to help determine whether the banknote is original or not quickly and easily.

“Fake” dollar currencies are widely spread in most countries of the world, while gangs specialized in counterfeiting currencies develop from their counterfeiting mechanisms whenever banks to print currency devise new codes that limit counterfeiting. 

To read the news and watch the video, on the original website of the US Treasury, click HERE  LINK  

Don961:  Legal protection of the national currency

Saturday 15 February 2020

 Judge / Kazem Abdel-Jasim Al-Zaidi 

There is no doubt that the currency is of great importance as the main tool for dealing which necessitates the full confidence in the state’s currency, and it has called for securing confidence in the currency that the state monopolizes itself with the right to issue its currency, and for this reason it was and still is crimes of counterfeiting the currency, and from the ages when the money was known, from Serious crimes affecting the financial reputation of the state. Therefore, old legislation imposed on them the most severe penalties, and we find that the Iraqi legislator punished these crimes as crimes. This crime acquires its seriousness in several ways. 

It is an attack on the sovereignty of the state and its right to mint the currency because it undermines confidence in the official currency, and this inevitably leads to a decrease in the value of the official currency in circulation, which is necessarily reflected on the bonds and securities issued by the state, and the risk of this crime extends to the innocent individuals who fall into their hands.

Counterfeit currency, what drives them to get rid of it by dealing with it, which extends the crime department to include a larger category of individuals, and the Iraqi Penal Code, No. 111 of 1969, as amended, in Article (306), is imprisoned for a period not exceeding a year,

or A fine for anyone who does not accept a valid national currency in circulation Legally, at their nominal value, whether metallic or paper, and currency-specific crimes are crimes against public trust and crimes related to the national currency stipulated by the Iraqi legislator, in articles (280-281) of the Iraqi Penal Code, namely, counterfeiting, forgery, forgery, entry to Iraq and possession with intent Promotion Dealing and re-dealing with a coin or banknotes that are invalidated in dealing with it, and the Iraqi legislator requires that the crime of counterfeiting, counterfeiting or counterfeiting the currency be required for the act to be based on a currency legally traded or custom in Iraq or in another country, and the intention of legal circulation when individuals are obligated to accept it in dealing .

In other words, legal circulation is the obligatory law for individuals to accept the state’s currency in their transactions, i.e. currency circulation has become compulsory, it is not up to the individual’s choice if he wishes before it, and he has the right to refuse to deal with it and that crimes of counterfeiting currency include all manifestations of assaulting public trust and that the punishment Essential in counterfeiting crimes is imprisonment, and the Iraqi legislator imposed a prison sentence of no more than seven years for anyone who makes or possesses a coin, lender, machinery, tools, or other things, what is used in counterfeiting, counterfeiting or counterfeiting a currency, whether paper or metal.

And banknotes or bonds, and the articles (283 - 284 - 285) came. As for the cases of exemption from punishment for the purpose of encouraging the perpetrators to return to the proper path and not to continue the crime to the end of it, Article (303) of the Penal Code stipulates that the person who committed a crime by imitating or falsifying seals, bonds, or stamps, or Counterfeiting currency, forgery of banknotes and financial papers and forgery of official documents if he told the public authorities before their completion and before the authorities searched and investigated their perpetrators, and that the protection of the national currency is the protection of public trust.

Given that the law does not protect things for themselves, but rather their relationship with people and constitute crimes of counterfeiting In the end, hitting the integrity and health of the currency, tampering with it, and exposing it to a risk of losing its role, which leads to a disturbance of public financial confidence based on the emotional psychological state of individuals and groups, and to spread deterioration and turmoil in financial transactions, commercial markets and banking institutions, and to create chaos and confusion as a result of the mixing of counterfeit currency     LINK

MilitiaMan:  These two articles are seeming to be placed and timed accordingly.. A re enforcement if you will on the act of counterfeiting will not be tolerated. Not only outside countries, but, their own currency and they make reference to the IQD currency and coins.

They don't have them yet? Even if they did no one in their right mind would counterfeit coins at a program rate. But, by this article about Iraq, they seem to suggest they will have coins.

A key point here that I see is they mention it is illegal to not accept legal tender. So, whereby, when they cease the Dollar Multi Currency Practice and Article 8 component, it will be illegal to accept payment in USD for goods and illegal to not accept IQD for goods when it is legal tender..

The people when doing business with other people having new IQD and or coins are going to be obligated to accept it. They will have an obligation to not accept outside country currency for payment within Iraq. Those holding USD will when going into convert at banks if need by will now have been notified that you better make sure your USD is not counterfeit. If it is there will be consequences for it. 

Now I believe in recent CCs (Mon/Weds recent past) there has been talk of the ATMs having been loaded with NSCNs and these above articles suggest that with the current warning having been given out about counterfeiting currency and coins, and obligations to accepting them if legal, suggests that there is an expectation for a rate change to warrant coins.

A significant value is needed to be applied for them to worry about counterfeiting coins. We have been told to watch the ATMs. Why? As the banks will have to be prepared for activation of new software. These articles are a huge indicator for me..

Articles suggest that the Dollar Auctions are to stop and this would indicate they are and make notice that the CBI has been showing pattern changes of recent imo ~ MM

Samson:  Al-Nassiri: Government support to the private sector is the savior for achieving economic reform

15th February, 2020

The economic and banking advisor to the Association of Iraqi Private Banks, Samir al-Nasiri, stressed on Saturday that government support and special care for the national private sector is the savior and solution to all problems of the economy and achieving the national economy

 He said in an interview with "Al-Iqtisad News", that "through discussion, analysis and study of the economic reality that Iraq is going through, it is necessary to stand logical, scientific and economic analysis on the most important axes that require finding solutions for them in the next stage in order to build the proper premises for the transition to the proper building of the economy

Giving a role to the private sector in making economic decisions and for the purpose of implementing the strategy of developing the private sector until the year 2030 requires the government and the private sector in all its banking, industrial, agricultural and service fields to participate and cooperate in implementing the development strategy in the directions that achieve For intermediate, medium and long term goals

He pointed out that "this means engaging the private sector in a greater role in managing the economy and forming the private sector development council," pointing to the need for a "representative of the private sector in the cabinet and for the private sector to be represented in opinion bodies in ministries and in special follow-up committees to follow up the implementation of council decisions." Ministers

Al-Nussairi added that there is a need to secure the governmental program for the interim or ordinary government with a clear vision of the role of the private sector for the new stage and to involve non-governmental experts and specialists in the implementation of the desired comprehensive economic, financial and banking reform program  

“Al-Nussairi added that there is a need to secure the governmental program for the interim or ordinary government with a clear vision of the role of the private sector for the new stage and to involve non-governmental experts and specialists in the implementation of the desired comprehensive economic, financial and banking reform program”  LINK

MilitiaMan:  The new stage and it implementation for comprehensive economic, financial and banking reforms.. Today we saw them talking to the people about how to check authenticity of USD currency and the Dinar with coins considered! The new stage! Coins beget value!!  One doesn’t counterfeit coins at a program rate..

They don’t warn about counterfeiting coins for just no random reason. They warn about knowing other countries currency and that legal obligations are coming soon to the local currency.

These things in the news earlier today suggest more reasoning they are about to get plenty of USD coming into banks and will need new local currency.

A obligation for the locals will to cease using USD and will have to accept only local currency. Hence again, coins with value begets a warning to not counterfeit and to check your currency for authenticity before bringing it in!! Imo -MM