More News, Rumors and Opinions Friday Afternoon 6-16-2023
KTFA:
Clare: Iraq plans to join World Trade Organization
June 15, 2023
The Iraqi Ministry of Trade revealed on Thursday that the government is planning to complete the requirements for Iraq’s accession to the World Trade Organization (WTO), indicating that financial contributions to the WTO have been settled.
A statement issued by the Ministry of Trade illustrated that work is underway to complete the requirements for joining the WTO, especially in terms of goods, services, the agricultural issue, and the modernization of the customs system.
Coordination has been ongoing with the General Authority of Customs to complete the modernization of the customs system and finalize the Tariff Law to be able to join the WTO, according to the Iraqi News Agency (INA).
Coordination is also underway with the Iraqi private sector and the Kurdistan region of Iraq to unify the visions related to the requirements for Iraq’s accession to the WTO.
The Iraqi Ministry of Trade mentioned last January that the committee concerned with Iraq’s accession to the WTO, headed by the Minister of Trade and consisting of representatives of ministries, agencies, and the private sector, is working to have the requirements for Iraq’s accession to the organization completed.
The ministry added that its plan includes holding official meetings at the WTO’s headquarters in Geneva and coordinating with the member states to mobilize support and speed up accession procedures to make Iraq an active member and partner in economic decisions and trade policies that would enhance Iraq’s integration into the global economy. LINK
ButchB: looks like Iraq gets to play with the big boys now
Turk182: Thank you for your Application to join the WTO Iraq - just an FYI - "You ain't getting in with a program rate of 1,300 to 1 "imo
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Paulette: IMO......I disagree........the rate is irrelevant to the World....Very relevant to the CBI who has to supply the actual money.....look at Vietnam....... Instead, I believe "You ain't getting in unless you are recognized by the IMF as Article VIII compliant" is the more appropriate statement.
This brings the IQD back to FOREX and easily exchanged worldwide.
Anybody here that thinks the IQD is worthless toilet paper money can feel free to just send what they have to me. After all, it's worthless right? Contact me by PM and I will be happy to take that worthless toilet paper off your hands. I, for one, certainly have a measurable amount of value of the IQD held. In fact, our group has a significant value of accumulated IQD....We just hope the value increases but recognize the current value is significant based on what we have had to exchange for it.
The budget value is the same at 1300 as it would be at 1-1. It is based predominantly on oil sales denominated in USD. It is just the amount of IQD that differs.
The rate is just a number to the currency value. $1,000,000 USD value of IQD at 1300 is the same as a $1,000,000 USD value at .25. It is still $1,000,000 value. The value is the same but the amount of IQD is the only difference. It is just a number tally system.
The issue is freedom of movement of capital. That is what will open Iraq to the world.
Go Article VIII announcement Go RI. This is at the discretion of the IMF.
In the meantime, I hope Iraq restructures their currency very soon. This is a CBI function and at their discretion.
Billuke: imo....I concur with Paulette - from a conf. call this past Jan. 18 - Frank mentioned that a rate can be low to join the WTO, but has to be internationally tradable currency. imo...Look at South Korea and Vietnam Perhaps Iraq's 15 - 18 year attempt to join the WTO will finally come about....soom.
Cleitus: Viet Nam (Dong) and SK (Won) are tradeable currencies with a low rate because they had and continue to have STABILITY, SECURITY and were not/are not multi-currency countries. Iraq was NOT any of the above until recently under Sudani. Things started to get hot under Kazimi (sp) when he and his delegation made that famous visit to DC to present the "Papers" (roadmap to where we are today) to the IMF and other US government agencies.
Can you say Iraq has security and stability today? Of course you can..., AND, no longer are they a multi-currency country. Thus, the sanctions were gradually lifted. And..., I'll throw in the, IMO.
This was widely discussed a few years ago and the ole timers should remember this. For you ole timers that may remember this famous trip to DC, I'm doing this from memory. If I need to be corrected somewhere please step in.
So..., I say God has his own time for this event. I believe a massive wealth transfer is about to happen so stay patient and prayer.
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DoTalkToMe: The US and the US dollar being shuned and rejected by Africa.
Africa takes a very hard stand against LGQT community. They stand against the debauchery of the US. Many countries will be doing trades with different currencies. Things are getting exciting on the world stage
MOakes: It is about time the countries of the world wake up and reject the Fed.
The Fed has been punishing the peoples of the world since 1913 when Woodrow Wilson, signed the act into law. IMO
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Courtesy of Dinar Guru
Frank26 Article: "The Iraqi Trade Bank and JPMorgan are discussing the development of banking operations". CHASE TOLD THE WORLD THE IRAQ DINAR IS A SCAM... NOW THEY TELL THE WORLD IT'S THE GREATEST CURRENCY IN THE WORLD
Mnt Goat I had an interesting conversation with my CBI contact...I was told that the IMF, World Bank and the US Treasury has given the “green light” to reinstate the currency and liberate it back to the foreign currency exchanges A.k.A. FOREX. What does this mean? This means, as I was told, that they plan to move ahead with the redenomination beginning this week in preparation for FOREX...once they do the “project to delete the zeros” they will first monitor it for inflation for a few days or more. We just don’t know. Yes, they will have to change the rate close to $1USD per dinar inside Iraq first and see what happens. This may go on all next week even so be patient or it may not be so long.
The Fed's Shocking Statement Reveals What Comes Next
Heresy Financial: 6-16-2023
The Federal Reserve finally blinked and announced a pause to their rate hikes, and they told us what is coming next.
Number one, prices are never returning to where they were before 2020. Number two, the reverse repo facility will help refill the government's treasury general account.
And number three, the big one here, Jerome Powell, was explicitly asked about the deteriorating financial position of the United States with their high deficits and high debt.
And he was asked if the Fed would finance government debt. And Powell explicitly, at least, said very clearly no, under no circumstance. This is huge if true.
Timecodes
0:00 Introduction
2:11 Prices are Permanently Higher
4:39 Rate Cuts During Inflation
6:31 Reverse Repo Slow Drain
9:39 No More Government Bailouts
12:18 End of the Fed (independence)