More News, Rumors and Opinions Thursday PM 7-11-2024
TNT:
Tishwash: this is what it looks like when they are there celebrating
Karbala suspends official working hours for these days
Today, Thursday, the holy Karbala Governorate announced a three-day official holiday, coinciding with the anniversary of the martyrdom of Imam Hussein, peace be upon him.
The provincial council stated in a statement received by “Iraq Awaz Yerfer” that “the council decided to suspend official work on Tuesday, Wednesday and Thursday, on the anniversary of the martyrdom of Imam Hussein, peace be upon him.” link
Tishwash: Iraq and the Inter-State Transformations in the Relationship with Washington
Prime Minister Mohammed Shia al-Sudani was not seeking, during his recent visit to the United States, a media glare or a souvenir photo at the White House as much as he was seeking to bring about a qualitative shift in the relationship between Baghdad and Washington
A profound transformation in this relationship and to go beyond the stage of focusing on the security file that has dominated the relationship since 2003, and to move towards multiple partnerships in several fields. However, in the beginning, there is an urgent need to restore confidence between the two parties in a way that achieves the strategic interests of Iraq.
There are still sharp differences between the two parties, the most important of which is in the method of performance and management of files.
It seems that Mr. al-Sudani seemed more willing to reach an understanding and present conditions that were not previously proposed in drawing up the relationship between the two parties, including financial guarantees for loans and other financial exchanges that were not clear in the exchange between Iraq and America. link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat ...two main issues concerning the monetary policy...The first issue is about the cash outside of the banking system...that the percentage of cash outside the banking system reached 91%... they already told us they have plan to retrieve this money... as investors in the dinar...part of the 91% also includes our dinars. They told us this money is desperately needed in the banks...But how will they get ours, as investors? So, the answer is...the CBI will have to revalue the dinar enough to a significant level to get us foreign investors to run to the bank and turn it in. Within Iraq, however it is much different and they only need to overcome the parallel market rate of the dollar and these notes will come flowing back in to the banks. This is also when they can begin the swap out to the newer lower denominations... [Post 1 of 2....stay tuned]
Mnt Goat The second is the reluctance of the US to allow the currency reform process to move ahead as the 3rd phase of the strategic plan calls for and is supposed to have already begun. But can it really begin without this measure? It is already a week into July and still the US has not given its confirmation as to the support they will give for this next part of the phase...there is not really much going on in the currency reform process...to indicate that the 3rd phase is started...One solution, as we learned, was for the three letter agencies to open the spigot and pour out the very good news about Iraq’s stability. Folks they are prepping for something really big in the very near future. They are trying to kickstart this 3rd phase of the strategic plan... [Post 2 of 2]
G7 Ultimatum: Saudi Arabia Threatens Western Debt Sell-Off Over Russian Asset Seizure
Sean Foo: 7-11-2024
In a sudden reveal, Saudi Arabia issued a warning to G7 in anticipation of the Russian asset seizure.
They warned of dumping EU bonds if the Western powers decided to go ahead with confiscating Russia's sovereign assets.
While this won't immediately crater the US or the European bond market, it shows the Middle East looking to de-dollarize their reserves and trade.
Timestamps & Chapters:
0:00 Saudi Arabia Warns The West
2:36 G7 Asset Seizure Backfires
5:26 Saudi De-Dollarization Risk
8:52 Western Debt A Financial Trap
11:29 Saudi Debt Dump Symbolic Disaster