More News, Rumors and Opinions Wednesday PM 7-29-2020
TNT:
Eccle519: ...All is alligning and I don't mean stars and planets lol
MudPilot: are their banks exchanging Zim as of this date?? Tks much
JudiblueEyes: The select people that were called in with existing bank contacts it has been told have exchanged zim. We will see. There are few surprises left in life maybe this is one of them.
Eccle519: If you think about it, it sounds like banks don't want mass hysteria from Dinar/Dong holders to invade their banks and I agree. That's why to me it's starting to sound like private exchanges will continue and yes, the 800# for appointments do make sense
Tishwash: Financial expert: Advanced technology is necessary to develop the banking system
An expert in the financial affairs, Wehbe Al-Khaffaf, stressed the importance of advanced systems in raising the efficiency of the banking system and enabling it to deal with the large numbers required by the Iraqi economy’s driver during the coming period.
Al-Khaffaf said that adopting advanced technology and following up on the latest developments in the global financial sector is necessary to enhance financial products with the new that suits the reality of the family’s situation.
He pointed out that Iraq has a good banking system and is expanding in an organized manner and under the supervision of the Central Bank of Iraq, which directs banks in a direction that serves the sustainable development process required by the development stage.
He pointed out that many banks are continuously looking to enhance their technological capabilities, including the International Islamic Trust Bank, which adopts a plan to develop its systems and what suits global developments and directives of the Central. link
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KTFA:
Ross: I'm sure everyone understands this question but me...but I have wondered if the US arbitrarily changed the IQD rate at the start of the war...Why can't the US change it back ? Apologize for my ignorance just curious and never heard an explanation before.
Realtormc: The USD usage was supposed to be temporary in Iraq and temporary has now been like 16-17 years, The intention was to never have Iraq use USD forever, the IQD was turned off so Saddam Hussein couldn't use a strong currency to buy weapons. So, the currency should've been turned back on a while ago… The sanctions, program rate, etc. were all done through the UN/IMF at the request of the USA. IMO
StephenMac63: Imo, it will be changed back instantly...After Iraq has done everything it's supposed to do....economic reforms, security and stability, get rid of Iranians....once those are completed then all that's left is a Public Announcement that they have changed the exchange rate.....how?.....by official being held responsible for Article 8.
Imo, of course …….
After the removal of saddam the Iraqi people had dinars with saddams pic. As Realtormc mentioned, the sanctions were placed by UN security council. In order to make sure the world did not accept saddam notes, the dinar was devalued.
Since the Saddam dinar was devalued so low, the USA imported USD for the creation of the banking system and to give iraq is a medium of exchange in the markets. This was not to be a permanent solution.
In the meantime the IQD came out and was given to the peeps. Several denoms were presented.
There is to be a point where the IQD will have more value than the uSD...in country, this will be one way of weaning the peeps of the usd.
When the UN is satisfied (when USA tells them ) the IQD will be reinstated to the world with a new value. IMO
DeepWoodz: I agree Stephen...according to Monday’s call that shoulder to shoulder is coming REAL SOON! Just a few more line items to be completed as per Trump. Imo
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Don961: Member of foreign relations: Al-Kazemi's visits to Riyadh and Washington were not canceled
Localities 7/20/2020 20:58 131
Baghdad today - Baghdad ,
a member of the Foreign Relations Committee, Amer Al-Fayez, confirmed today, Wednesday, that the foreign tours of Prime Minister Mustafa Al-Kazemi of the Kingdom of Saudi Arabia, and the United States of America, existed and were not canceled.
Al-Fayez said in an interview with (Baghdad Today), that "Al-Kazimi's visit to Saudi Arabia was postponed as a result of the illness of the King of Saudi Arabia, who after his recovery will be a visit," noting that "the Prime Minister's visit to Washington will be this month."
He explained that "both visits work to support the openness of Iraq to the region and neighboring countries and the world, and taking into account balance in the region because Iraq can play an important role by being a friend of Iran, Saudi Arabia and the United States and playing the role of calm."
He noted that "
He stressed that "the visits remain, and the invitation is ongoing and awaiting the order of things."
Al-Kazemi’s government is trying hard to ease tensions in the country and maintain a balance between regional and international powers in order to embark on its reform plan.
While the Saudi station was postponed on Al-Kazemi’s tour after coordination and consultation between the two capitals, Baghdad and Riyadh, Al-Kazemi visited Tehran and met senior Iranian officials, including the leader of the Islamic Republic, Ali Khamenei, and received supportive positions for his government. LINK
Jim Willie | Discuss currency wars and the rise in non-US-dollar-based trading
Premiered Jul 28, 2020