More News, Rumors and Opinions Friday Afternoon 2-3-2023
KTFA:
Suzie: Now that we're going into February and have a new PM and a new CBI Gov, and they care so much about their people and economy, reserves at the highest, supposedly all these hundreds of companies pouring into Iraq hooked into Buna Swift, the AMF all the banking updates, nscns ready, IMF and US telling them to get this done, ascension to the WTO, countries signing major contracts, and on and on, why can't this prettiest girl at the prom still not find her way there? Iran?? I thought they pretty well got rid of that "influence" and all I'm doing is asking this all in MY OPINION, and honesty, what's taking so long if they're in such a hurry? Just askin', not looking for an argument or to get moderated, just askin'.........
Cashflow: Hi Suzie, I agree 100% with you. But correct me if Im wrong but is this not the same scenario as Kuwait did? I personaly think imo after the meeting on tuesday in Washington we will see something happen. Boom all of a sudden. You have to have faith because if you dont then what do have? Just IMO.
KTFA Cont…..
Billuke: The mistake that people have made over the years in dinarland is to equate what happened in Kuwait to Iraq. Two different situations and animals. If one can find the NY Times article: AFTER THE WAR; No Electricity but Kuwait Reopens Its Banks from March 25, 1991, and other articles from around that time, you'll see it was a quick reopening of Kuwait's economy after the war.
DeepWoodz: Suzie…. Sounds like from what you said, Iraq is still clawing back those 000 notes! Liquidity of the dinar and the dollar drying up at the same time?! Sounds freakin awesome! That can only mean one thing, right?! All imo
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From Recaps Archives
NY TIMES(Kuwait RV): Published: March 25, 1991 It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency......Banks reopened for the first time since Iraqi occupation forces shut them down in December.
Thousands of people lined up to exchange their old Kuwaiti dinars for crisp new ones and to withdraw a limited amount of money.....The Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis.
The invalid serial numbers were posted today in front of all banks in the city....All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.
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Courtesy of Dinar Guru
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani still saying he wants to strengthen our currency. He came out early this morning and he said this is his objective. This is on top of what he is saying yesterday about returning the rate to what it should be. This is encouraging.
Frank26 What have I told you is the reason why we do not have the reinstatement of the Iraqi dinar? It's Iran...there's only one reason...that's what they're dealing with, the corruption of Iran. And the meeting they are going to have [In Washington] is very powerful. It deals with the exchange rate and corruption of Iran.
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TNT:
Tishwash: The most prominent of which is the "tax holiday".. 5 positive outcomes of the Sudanese meeting with the heads of the chambers of commerce
Today, Friday, the head of the chambers of commerce in Diyala, Muhammad Mulla Jawad al-Tamimi, revealed the most important results of the expanded meeting with Prime Minister Muhammad Shia al-Sudani in Baghdad yesterday.
Al-Tamimi told (Baghdad Today) that "the expanded meeting of the heads of the chambers of commerce in the provinces with the Prime Minister, Muhammad Shia' al-Sudani, and economic and financial elites in Baghdad, yesterday evening, was positive about presenting important files to contain the dollar crisis and give the markets guarantees that contribute to stability during the coming period." the next stage.”
He added, "Al-Sudani followed the implementation of the decisions issued by the previous meeting, while the Central Bank demanded the urgency of issuing instructions for credits and transfers according to the proposed ceilings and determinants as quickly as they represent the cornerstone of Iraq's foreign trade."
And he continued: "Al-Sudani also followed up on the implementation of the decisions issued to the tax and customs departments, which will greatly contribute to facilitating the adoption of the new mechanism for foreign trade proposed by the Central Bank, and this is what matters to the merchant in carrying out his daily work."
He pointed out that "the president of the federation and the importing merchants presented at the meeting a set of proposals and solutions, the most important of which is a request for a tax and customs holiday for a period of five years.
And he continued, "We also called for facilities to open bank accounts for small merchants and facilitate their work procedures in light of the new transformation, as they are the majority segment, with an emphasis on adopting the banking system in implementing the internal transfer through the Iraqi payment system by adopting the RTGs & CT system to transfer the internal transfer between government and private banks."
He pointed out that "the meeting touched on discussing the decisions issued regarding reliance on the local currency in all government and private departments and the need to implement electronic payment services in them to achieve many goals that contribute directly and indirectly to the new economic system," stressing that "the meeting resulted in 5 positives in general."
Through consensus and the flexibility of Al-Sudani in accelerating the pace of procedures to create flexibility in financial dealings.
Yesterday, Thursday, Prime Minister Muhammad Shia al-Sudani chaired the second meeting of the Federation of Chambers of Commerce and the Association of Iraqi Banks, as well as other bodies; Taxes, customs, border crossings and the central bank, while the meeting witnessed a discussion of the economic situation at the national level in light of the exchange rate fluctuations, and their effects on the Iraqi market. link
The Fed Can’t Fight What It Doesn’t Understand - Ep 869
Peter Schiff: 2-2-2023
· As expected, the Fed did exactly what was expected.
· Gold trades highest it’s been in almost a year.
· Government causes inflation, not consumers.
· Investors are seeing through the outliers when it comes to stronger economic data.
· Congress acts shocked to discover fraud with PPP loans.
UNBELIEVEABLE! The Data Is 100% FAKE! But You Haven't Seen ANYTHING YET!
Greg Mannarino: 2-3-2023