More News, Rumors and Opinions Tuesday Afternoon 7-23-2024
KTFA:
Clare: A high-ranking security delegation arrives in Washington to hold a round of talks to end the coalition's mission
7/23/2024
Defense Minister Thabet Mohammed Saeed Al Abbasi arrived at the head of the Iraqi delegation on an official visit to the United States of America.
The Iraqi security delegation will hold the second round of talks to end the international coalition's mission in Iraq.
Four Iraqi sources told Reuters that Iraq wants the international coalition forces to begin withdrawing from September and to officially end the coalition's work by September 2025,and indicated "the possibility of some American forces remaining in an advisory capacity that was recently negotiated."
Meanwhile, American officials said that "the Iraqi position will be discussed with American officials in Washington this week at a security summit," adding that "there is no official agreement to end the coalition or any timetable associated with it yet." LINK
Clare: International Development Bank announces the opening of a bank deposit account
7/23/2024 Baghdad
The International Development Bank announced today, Tuesday, the opening of a deposit account (investment, term) to serve the Iraqi family.
The bank stated in a statement that "based on our belief in providing the best banking services to the bank's customers and employing the accumulated cash mass in the service of the national economy, the International Development Bank for Investment continues to open deposit accounts according to the customers' requirements in terms of the duration of the link."
He added, "These accounts provide financial returns of up to 10% annually, paid monthly from the value of the deposit, in addition to entering the monthly draw, which includes valuable cash prizes."
He stressed that "the owner of the investment deposit receives free life insurance and facilities when wishing to obtain a loan guaranteed by the deposit, as well as a credit card provided free of charge to the account holder."
The bank explained that "the funds will be invested to serve the country and will be safe and guaranteed by the Iraqi Deposit Insurance Company, which is authorized by the Central Bank of Iraq, in addition to the benefits that the owner of this account will receive, which represents a product that is in harmony with the needs of the Iraqi family seeking to invest its money in the appropriate and safe place and benefit from generous monthly returns that raise the standard of living." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Question: "If the rate is $3.22 and you go to the bank and exchange a 25,000 note in American dollars how much will that be?" $3.22 times 25,000 friend.
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
My bank guy did say dropping the zeros does not change the value. FRANK: He's right. Because it's going to be 1 to 1 with the American dollar. It doesn't effect it inside. It will effect it outside. No it will not change it. When it floats it will change it. FIREFLY: Poor countries with terrible inflation, they drop [zeros] in order to lop. We are not like that. We drop to add value. It's all inflation based. [Post 1 of 2....stay tuned]
Frank26 [Iraq boots-on-the-ground report] FRANK: Yes, you drop to add value inside of your country...They wanted to be at least 1 to 1 with the American dollar in order to add this value to your currency. That's why he means that dropping the zeros won't add value to your currency...Then your currency will float on the International market and the value of your currency goes up outside your country as well. Inside, it will go from 1320 to at least 1 American dollar in order to add value which is purchasing power...If it was a lop they would be adding zeros. [Post 2 of 2]
80% Of Banks 'Going Down’; $9 Trillion Of Debt Due Soon | Christopher Whalen
David Lin : 7-23-2024
Christopher Whalen, Chairman of Whalen Global Advisors, discusses the risks to the banking sector, opportunities for investors, market outlook, and current labor market conditions.
0:00 – Intro
1:00 - Market outlook
2:50 - Banking sector
6:50 - Liquidity issues
8:30 - Commercial real estate
9:50 - Debt maturing
13:20 – Unemployment
15:27 - Housing affordability
18:00 - Inflation outlook
20:15 - Liquidity crisis?
22:00 - De-dollarisation
26:10 - Fed policy
30:55 - Fiscal policies
32:10 - Tariffs
34:54 - Risk-on sentiment
36:00 - Banking consolidation
40:30 - DeFi and crypto