Frank26, MilitiaMan and Petra: "One Small Piece will Ignite the World" 10-25-2021

KTFA:

Frank26:  "WHY DIDN'T THE CBI ALSO REMOVE THE 1, THE 10, THE 20, AND THE 100, 250 AND 500.....BECAUSE THEY WILL COEXIST WITH THE NSCN's".(new small currency notes) .....F26

The 5 and 10 thousand dinars denominations disappeared from the ATMs

Saturday 23 October 2021

Baghdad: Mustafa Al-Hashemi

Recently, there have been cases that the citizen was not familiar with, since the spread of ATMs throughout Iraq, represented by the disappearance of small and medium groups (from 1000 to 10 thousand dinars), which may bring back to the scene the scene of mistrust between the public and private banks, specifically, because of The latter's failure to provide all cash denominations in its ATMs.

Citizen B says: I (employee) “When I receive a message or a notification on my phone that my salary has been launched, I immediately go to the nearest ATM to withdraw the salary for the purpose of fulfilling my financial obligations that require cash (cash).

i added. To “Al-Sabah” that “the ATMs of the bank to which I settled my salary, are devoid of small and medium cash groups (1000 to 10 thousand dinars), and I do not know the reason, although withdrawing them as liquidity may differentiate among some who complain of the deterioration of their living conditions.”

And he added, "This case brings to mind the issue of citizens' trust in private banks, which has been shaky since the collapse of a number of them in previous years, which calls for a review of the issue of financial inclusion in the smallest details, especially the salary settlement clause."

For his part, the banker Hussein Najm believes that “these cases may occur in some private banks for accounting purposes or to facilitate the payment of the salary in the largest possible categories, and to facilitate filling the exchange with cash from those categories, as it will become lighter when transferred.”

Negm pointed out that "this case can be explained by the fact that banks encourage the public to adopt a saving policy, which has been absent from the family economy scene since the nineties of the last century, or it may be one of the problems or challenges of settlement and the banking system in general."

In turn, the expert in economic affairs, Dr. Hussein Al-Khaqani, said that there is a source of individual financial waste, represented by the electronic payment card holders of employees and retirees. When a notification is received of the release of the salary, the card holder quickly resorts to receiving his salary in cash from the exchange offices minus the commission.

Al-Khaqani added, “Perhaps the most important reason for this is the lack of electronic payment card readers, which are supposed to be available at all official authorities and the private sector, to collect their debts, such as malls, large and small shops, even taxi drivers, stores selling vegetables and fruits, ovens, restaurants, and even traffic departments and the collection of water fees. Electricity, payment of transaction fees and tax collection.

He stressed that “the banking automation process in Iraq is deficient due to the imposition of electronic cash dealings on employees and retirees, in exchange for limiting cash withdrawal points to outlets and ATMs and not providing them in all the aforementioned stores and agencies, which widens the cash gap between citizens and banks.”LINK

FROM MM & PETRA (10/24/21):

The mechanism, which calls for adopting comprehensive solutions represented in circulating the credit card reader to all cash transactions, in a way that encourages dealing with electronic cash. ….

” Al-Naimi explained to “Al-Sabah” that “credit card readers” devices are only available at salary distribution outlets only, while the success of automation requires the dissemination of these devices to all shops, markets, filling stations and every party that deals with “cash”, which would reduce Financial losses, and tangible development on the ground, not just on paper. interbank market For his part, the banker, ….

MilitiaMan:  As I have shown in posts… …. The banking reality in the country needs to activate the interbank market to be a platform that establishes an organized electronic financial market that opens and facilitates the way for foreign investment in Iraq on the one hand, and to increase cooperation between banks and improve their ability to diversify financial services to their customers.

On the other hand, attracting commercial and financial operations available in the market. …. The USA and Japan connection are about implementation..imo ….. The need to activate is the focus ….

Salih today spoke of digital Dinar …. Electronic financial market…. ….

G7 talked of a guideline in regards to digital trade (currency) ….

Salih speaking out about digitization? Lol yep ….. Down to tracking to the penny.. or did he mean Fil? ……

The ust data supports that they are full capable of implementing a digital economy and are expecting it to be about Iraq but not all about Iraq!! Watch..imo … Militia-Man

Petra:  Thanks MM! Just jumped and thought I’d say hi ….PETRA

MilitiaMan:  Let’s think like digitization would think.. ….. It is about communication ...There is going to be a time where a synchronized event takes place ….. One that will have payments, settlements, taxes, fees, customs, futures contracts, etc, all on the same ledger..  Militia-Man

Petra:  Ok….That is correct. All on platforms observable by all parties…and I mean “all!!” …..PETRA

MilitiaMan:  Same stock exchange abilities …. Valued accordingly …. The isx is not NSDAQ ready at 1460 …. Militia-Man

Petra:  Yes, immediate algorithms engaged to level the playing field automatically …PETRA

MilitiaMan:  The PTB have had their work cut out for many years!! Militia-Man

Petra: But will there be countries who aren’t on board? (Rhetorical question) PETRA

MilitiaMan:  Yes but few… Militia-Man

Petra:  This has been in the works, honestly, since Bretton Woods… PETRA

MilitiaMan:  History is coming to the forefront.. Militia-Man

Petra:  The digital part came…when it was developed in order to handle these multi-international transaction! …. One must ask….why was this developed??? Because the problem needed a solution …PETRA

MilitiaMan:  It was apparently a necessity.. which suggests there is a deeper connection to the past than many may ever know or have expected…. Militia-Man

Petra:  Correct…strategic finance principles recognized the global problem 50 years ago with the FIAT system and therefore started us down the road when most of us were kids, or not even born yet.. …. Nixon taking us off the gold standard in the 70’s started this motion down its path…and here we are today…AMAZING what has been developed …. You are on top of those pieces MM.. …. I mean, think of this….from the70’s to today look what has been developed. The integration, automation, standardization, global integration, Fintech to get us to now… PETRA

MilitiaMan:  Interestingly enough, it takes time to know the necessary, yet also know they need room to work through the issues until the time is right. Effectively , there comes a time that if calculated correctly to be a spot on the chart the convergent is made.... Militia-Man

Petra:  A spot in history that will be remembered forever…and we are right in front watching it occur. And now, we are at the stage where implementation has begun formally with the ATM’s redistributing the money supply……know that this one small move will ignite the WORLD!!! .....PETRA

MilitiaMan:  It was tested more than once in the past and more again recently.. ….. A small move? Sure, a simple flick of a match.. lol… Militia-Man

Petra:  Yup…I’m still trying to get my head around the historical perspective and bring it to the present it truly is mind boggling… PETRA

MilitiaMan:  Or let’s suggest a simple move of a decimal place or three.. Militia-Man

Petra:  And we have been waiting for that “flick of a match” that has been in the work since the 70’s…do you realize the HUGE progress that has been accomplished???? Absolutely astounding. ….. Yes, one simple move….and the WORLD changes!!!! And I don’t think I even need to say IMO because it’s history we are watching!! ….PETRA

MilitiaMan:  We know from our past, our friends, family, business, etc, that there have been issues monetary wise. They date back many many generations.. They may be more true than ever thought and cannot be forgotten in totality in fact they need to be reconciled…..Militia-Man

Petra:  Certain “Bonds” have that history MM and they are being reconciled as we speak ….. Historical funds being redistributed to the present…monies that have been put away by time to be re-purposed for other global needs… ….. But that’s another conversation my friend…. PETRA

MilitiaMan:  The fact that there is open and notorious data uh to the largest connected entities on the planet show that change had to come, no choice in the matter and they affirmed it. It is in black and white and it is posted in the forum! …. …. Not to mention the UST website or email thread!..... Militia-Man

Petra:  Yes, and do you find it interesting that most, if not almost all countries in the world have signed on to this??? ….. How long ago have we said MM that this is not just about Iraq? …..PETRA

MilitiaMan:  No, not surprised at all. There comes a time when the tide rises there is a need to lay out the lines.. Get my point? Lol …Militia-Man

Petra:  Ha ha…yup! …PETRA

MilitiaMan:  Cant be strapped down as that can capsize the biggest and even most sophisticated of all platforms if you will.. …. Militia-Man

Petra:  Yes, but, no matter what size the boat (country) the power of the tide lifts all…consistently and equally. But, there will be some “submarines” where their currency due to lack of monetary policy or economic policy…their boats sink! …. Or should I say “sinks their boat.” LOL …PETRA

MilitiaMan:  So, I presume the questions are whirling around as to time and amounts? All I can say to that is they suggest digitization is upon us, so time is short.. As for valuations, that is a tricky topic as valuations depend on so many things. But, let’s just say they did tell us they want to go back to the previous era.. Well an era is a long time ago, not recent history. Glory days comes to mind.. Oil is not $45.. lol …. Militia-Man

Petra:  Agreed Sir! The amounts are set so as to drive the IQD to it’s starting point, which is higher than the USD, and significant enough to draw in the secondary markets …. And then….the SDR steps in! ……PETRA

MilitiaMan:  That my friend is one thing to be focused on. Private sector rules require transparency and pricing.. ….Militia-Man

Petra:  Also known as “The Glory Days!” …. Yes, they do…and the need for transparency is global for all! (Fintech) ……PETRA

MilitiaMan:  The glory days may merely be a focal point to start or were adjusted accordingly to meet present and future cash values … Militia-Man

Petra:  Yes, including all present and potential future valuations for all currencies….. PETRA

MilitiaMan:  At the same time synergistically ….. Militia-Man

Petra:  IMO..Iraq has been ready for 3 months…CBI Governor announced they were completely digital 3 months ago, but, needed to see the testing of the “mechanism” and they did…3 times as we have discussed previously …..PETRA

MilitiaMan:  It is my understanding at this stage there would have had to be a point where they feel everyone is on board and in sync to allow go time…  Militia-Man

Petra:  I believe MM, that we believe we are at that point! Agree?.... PETRA

MilitiaMan:  Yes, they have had testing and yes it was public as noted by the Swiss Euro and then the Euro to Jordanian Dinar clearing …. Militia-Man

Petra:  Iraq has already lit the fuse with the cessation and removal of the 3 zero notes… …. A vacuum has been created and “must” be filled soon or there will be confusion in the minds of the citizens ….PETRA

MilitiaMan:  They talked Dinar digital currency today!! Why? Because it is reality ….. Imo they are further along than most actually get. Imo …. Militia-Man

Petra:  Yes, but the funny thing is, we are so focused on Iraq but other countries, many many countries…have been doing so all along behind the scenes. ….. And, with the agreement with the UST and the other 139+ countries….IMO, are ready!.... PETRA

MilitiaMan:  The amount of data to suggest that what I say about being further along than ever thought can be seen yesterday about the local digital crypto currency that took the street by surprise and was successful and we never heard of it.. …. They are more savvy than given credit.. imo… Militia-Man

Petra:   Oh so true…. PETRA

MilitiaMan:  The money is the focus… imo It fits the need and priorities..……Militia-Man

Petra:  Yes, and soon because the “squeeze” is getting tighter with no cash circulating per se …. PETRA  

Frank26 and KTFA Members Thursday PM 10-21-2021

KTFA:

Frank26:  "WE TOLD YOU IT WOULD BE $100 PER BARREL".......F26

The Minister of Oil sets the price of a barrel in the budget and expects crude to reach $100

20th October, 2021

On Wednesday, Oil Minister Ihsan Abdul-Jabbar set the price of a barrel in the 2022 budget, while he expected crude to reach $100

The Minister of Oil said during a workshop held today at Al-Rasheed Hotel and followed by “Economy News”, that “the central government will fix the price of a barrel of oil in the 2022 budget between 55 to 60 dollars,” noting that “this will help to make changes and a significant improvement in the performance of the national economy and overcome the financial deficit.” in the general budget

Abdul-Jabbar expected, "The price of a barrel of crude oil will reach $100, in the first quarter of next year, affected by the decline in the US and global strategic stocks and the recovery of the global economy from the repercussions of Covid 19

He announced that "Schlumbinger will start a project to drill 96 oil wells in the West Qurna 1 field, which is the largest of its kind in the country's history," noting that "the project will add 80,000 barrels per day after its completion to the total production of the Basra Oil Company, which is affiliated with the National Oil Company

He added, "Schlumbinger, which is executing for ExxonMobil, the main operator of the West Qurna 1 field, by using modern technology in drilling operations in West Qurna 1, helps all parties in the Ministry of Oil and licensing companies to reduce the costs of production per barrel and improve productivity

The Minister of Oil expressed his optimism about “a great development in the oil industry, especially since it has entered a new positive phase that competes with companies producing alternative solar energy and green and blue nitrogen fuels,” noting that “giant companies have spent billions of dollars on establishing infrastructures to manufacture modern equipment and devices.” Batteries and other materials used in the alternative energy industry

For his part, Vice-President of Schlumberger Saad Al-Damen said that "preparations are underway to launch drilling operations in the largest extractive project, which will be implemented according to the latest technology that will work in the project and the preparation and installation of the information system and software rules for its management in the Basra Oil Company   LINK

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Frank26:   "NOT AT A PROGRAM RATE"..........F26

Expo 2020 Dubai is an opportunity to boost investment in Iraq

Wednesday 20 October 2021  Baghdad: morning 

 Assurances of the role of Expo 2020 Dubai in enhancing the reality of investment in Iraq, through the portal of openness to the world, where the wide participation of major international companies that represent a sober effort around the world. 

Iraqi Foreign Minister Fouad Hussein inaugurated the Iraq pavilion at Expo 2020 Dubai, in the presence of Deputy Central Bank Governor Ihsan Al-Yasiri, Chairman of the Investment Authority Suha Al-Najjar, President of the Association of Private Banks Wadih Al-Handal, and UAE Minister of State Khalifa Shaheen Al-Marar.

Deputy Governor of the Central Bank, Ihsan al-Yasiri, pointed out that “Iraq’s presence in this forum represents an important step for rapprochement with the active international labor market that possesses all the ingredients for achieving success in performance, and is an important opportunity to communicate with the best global expertise that can be employed to serve Iraq and its economy.” In turn, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said: {The Dubai Expo 2020 is an important and promising opportunity to open the door for investment in Iraq.}

Al-Handal added that {the Iraqi pavilion in the exhibition will show its visitors the civilization, heritage and great successes that Iraqis have achieved over the past and current years}, noting that {the Central Bank and the Association of Private Banks provided financial support through the Tamkeen Fund to establish the ward}.   link

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Samson:  The Saudi-Iraqi Coordination Council discusses ways to develop banking and financial relations

21st October, 2021

The Saudi Central Bank hosted on Wednesday, October 20, 2021 AD, the meeting of the Financial and Banking Committee of the Saudi-Iraq Coordination Council.

 The Saudi Central Bank stated, in a statement, that the meeting reviewed a number of issues of common interest, and ways to develop banking and financial relations in the two countries.

In the context of developing direct cooperation between the two central banks and activating banking relations, and the desire of the Iraqi side to benefit from the experiences of the Saudi Central Bank, the bank held a meeting with the Iraqi delegation, during which discussions and opinions were exchanged in a number of areas within the tasks and responsibilities of the central banks.

The Saudi Central Bank pointed out that the discussions aim to enhance the stability and strength of financial institutions, in addition to discussing the latest developments in the financial sector. This includes digital banks.

The Saudi side in the meeting, according to a statement from the Saudi Central Bank, was headed by the Deputy Governor of the Saudi Central Bank, Ayman bin Muhammad Al-Siyari, while the Iraqi side was headed by the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif.  LINK

Samson:  Oil continues to rise as US inventories fall

21st October, 2021

Oil prices rose to extend the gains made in the previous session, with the continued decline in oil and fuel stocks in the United States

Brent crude futures rose 17 cents, or 0.2 percent, to $85.99 a barrel, after increasing 0.9 percent the previous day and US West Texas Intermediate crude futures for November, which expired on Wednesday, rose 91 cents, or 1.1 percent, at the settlement, after touching the highest level since October 2018. December contracts also rose 37 cents, or 0.4 percent, to $83.79 a barrel

The US Energy Information Administration said that crude stocks in the United States fell by 431,000 barrels in the week ending October 15 to 426.5 million barrels, compared to expectations of analysts polled by Reuters for an increase of 1.9 million barrels

The government agency added that crude stocks at the delivery center in Cushing, Oklahoma, fell to their lowest level since October 2018, indicating a tight market that may take some time to reduce and it said that gasoline stocks fell 5.4 million barrels last week to 217.7 million barrels, their lowest level since November 2019

Oil markets hit multi-year highs this week on the back of the global coal and gas crisis, which led to a shift to diesel and fuel oil for electricity generation   LINK

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Samson:  Iraq is the third largest oil exporter to China during the past month

21st October, 2021

The Chinese Customs Administration showed, on Thursday, that Iraq came in third place as the largest exporter of oil to China during the month of September of the year 2021.

The administration said in its statistics, which was followed by / Mawazine News, that "Iraq came third as the largest exporter of oil China during the month of September, amounting to 5.837 million metric tons of crude oil, equivalent to 30.800 million barrels per month, equivalent to 1.026 thousand barrels per day, down by 24.6% from last August, in which exports amounted to 1.318 million barrels per day, but these exports rose by 20.4% from September of last year.

Chinese customs added that Saudi Arabia maintained its classification as the largest supplier of crude to China for the tenth consecutive month in the month of September, even as shipments decreased by 1.2% compared to last August, as these exports reached 7.96 million metric tons, or 1.88 million barrels. Per day

She pointed out that "Russia came second, with exports amounting to 6.14 million tons, or 1.45 million barrels per day, Oman came fourth, with exports amounting to 973,000 barrels per day, while Angola came fifth, with exports amounting to 730 thousand barrels per day."   LINK

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Samson:  The Turkish lira collapses to a historical level after a decision by the Central

21st October, 2021

The Turkish currency fell against the dollar today, Thursday, to historical levels after the Turkish Central Bank decided to reduce the main interest rate, which is a basic demand of Turkish President Recep Tayyip Erdogan.

According to the "Bloomberg" agency, the dollar exchange rate rose to 9.4206 lira, an increase of 2.19%, and this is the first time that the Turkish currency recorded this level. The lira lost 20% of its value this year, and half of this decline came since the beginning of last month, when the central bank began giving easing signals, despite the rise in inflation to about 20%.

On the 15th of this month, President Recep Tayyip Erdogan dismissed three policy makers at the Central Bank, deepening the lira's decline.

The Russian "Novosti" agency reported, earlier today, Thursday, that the Turkish Central Bank reduced the main interest rate from 18% to 16% annually.

President Recep Tayyip Erdogan has repeatedly called on the central bank to ease monetary policy, and analysts believe that his intervention has eroded the credibility of monetary policy in the past few years.   LINK

Frank26: "Eddie's Report From Iraq" 10-19-2021

KTFA:

Frank26:  INCOMING:

FROM EDDIE:
Tv shows Iraq at Dubai international expo trying drum up business and investment then at expo EU signed agreements for more investment to get Iraq started in the international game . Looks like Iraq lining up business for investors all over the world tv commercials showing Iraq as a secure environment showing reconstruction of cities especially Mosul advertising for companies to come into Iraq and invest….

Tv loaded with commercials today showing Iraq as up and coming country showing new banks new businesses coming showing all good things about Iraq we seeing new commercials for banks…. Remember you told us to look for the commercials Mr. Frank well Arab league fund and IMF starting changing rate policy study and guideline big event going on it’s on tv about changing exchange rate policy…..

It’s all over our television every channel and these are new commercials we have never seen before talking to us about the exchange rate just like you said they would this is amazing…. Says it’s a course on exchange rate policy…. It’s hard to believe what we are hearing but I guess once again you were right…..
Demonstrations by losers at entrance to green zone set up tents…..

FRANK:
Like we told you Eddie the CBI will have commercials and as you can see that has now started also we told you the commercials will educate you on why you have a new exchange rate and a new small category note to match that NEW exchange rate and as you can see that has started.
Honestly we expected all of this is to have started on Sunday the 17th going into Monday

But it looks like they started today instead once again my friend everything that we have told you is now in front of you and that’s why your bank friend told you stop worrying about the laws those are for the international investors your monetary reform is ready and soon to be given to you Iraqi citizens and once again like we told you Iranian influence has been removed and all of this is because of Donald Trump...

You are about to become a leader for your country Eddie just like I told you.
I plan to come back on Nov 1, and I pray that this will be over by then if not we will continue to gather this wonderful information and share it with our family at KTFA.

Keep me posted because of these commercials I believe the information for you on the monetary reform it’s going to come up even faster now….. Eddie says yes please and will keep sending says today’s commercials are all new never seen before….. I hope you don’t mind if I say it just one more time I told you so lol….

EDDIE: Yes you did Mr. Frank and they’re telling us even more than you told us…. All those pictures you sent us Mr. Frank it is now real we are more modern than any other country and our banks will soon give us a modern currency with a modern exchange rate this is all so hard to believe but we are so grateful…..

FRANK: You take care Eddie keep sending because it’s going to come out really fast now, love you… END….. PS ……… FREAKEN TOLD YOU SO !!!!!!!! LOL……FRANK26 

Frank26:  "THE COMMERCIALS WE TOLD YOU ABOUT!!!".......F26

The Arab Monetary Fund, in cooperation with The International Monetary Fund's Center for Economics and Finance in the Middle East, organizes a course on "Exchange Rate Policy"

19th October, 2021

Abu Dhabi - United Arab Emirates

This morning, the " Exchange Rate Policy" course, organized by the Institute for Training and Capacity Building at the Arab Monetary Fund, in cooperation with the International Monetary Fund's Center for Economics and Finance in the Middle East, was inaugurated during the period  18-28 October 2021,  through the distance training method that the Fund adopted as a continuation of its training activity. 

Achieving economic and financial stability is one of the most important economic goals in all countries, so macroeconomic policies are unique in large areas, especially those policies that aim to achieve stability.

The course also highlights the differentiation of macroeconomic policies associated with different exchange rate regimes, the choice of the exchange rate regime, and the most important challenges facing exchange rate policy in developing and emerging market economies.

On this occasion, the speech of His Excellency Dr. Abdulrahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, stated:

Dear sisters and E Lakhoua

It gives me great pleasure to welcome you to the inauguration of the "Exchange Rate Policy" course,  which is being held by the Institute for Training and Capacity Building at the Arab Monetary Fund in cooperation with the International Monetary Fund's Center for Economics and Finance in the Middle East, hoping that you will seize the opportunity and benefit from the topics of the course. 

Ladies and gentlemen,

Achieving economic and financial stability is one of the most important economic goals in all countries, so macroeconomic policies are unique in large areas, especially those policies that aim to achieve stability. The course also highlights the differentiation of macroeconomic policies associated with different exchange rate regimes, the choice of the exchange rate regime, and the most important challenges facing exchange rate policy in developing and emerging market economies.

Ladies and gentlemen,

The exchange rate policy is one of the most important policies adopted by countries to maintain the stability of macroeconomic variables, the most important of which is inflation, which is considered one of the obstacles in achieving economic growth. appropriate exchange. A fixed exchange rate policy helps curb inflation, and a flexible exchange rate policy helps absorb external shocks. The results of adopting such economic policies were clear during the many economic crises that afflicted the world's economies during the past two decades, which contributed to alleviating the negative effects of those crises.

Ladies and gentlemen,

It is known that the influx of capital significantly in the presence of an effective monetary policy enables countries to avoid the consequences of these flows represented by the rise in real exchange rates, thus reducing the competitiveness of these countries' exports. Although these flows contribute to an increase in the volume of reserves, the accumulation of reserves may entail costs represented in interest payments on government bonds that are used to absorb the liquidity left by these flows. Therefore, it is necessary for countries to have controls to deal with capital flows, especially short-term, as these funds are often quick to exit.

Ladies and gentlemen,

Your course is rich in topics related to many important topics, as the different types of exchange rate strategies and arrangements and their compatibility with the existing economic policy will be reviewed. The course will focus on the following main themes:

Basics of analyzing different exchange rate systems.

How to read international currency market indicators and exchange rates.

Assessing the adequacy of foreign exchange reserves using traditional and new indicators.

The relationship between exchange rate policy and macroeconomic policies.

Basic parameters for the transition from a fixed to a flexible exchange rate.

Establishment of early warning systems for currency crises. 

Ladies and gentlemen,

In conclusion, I would like to thank the distinguished experts who presented the course materials, and to commend the fruitful cooperation that exists between the Arab Monetary Fund and the International Monetary Fund.

I wish you a successful session and may God protect you wherever you are.

Peace, mercy and blessings of God.

LINK

Frank26 and Eddie's Report "Incoming" Thursday 10-14-2021

KTFA:

The Second Central Bank Strategy (2021‐2023) An Approach to Monetary and Financial Reform

13th October, 2021 by Samir Al-Nusairi

The Central Bank of Iraq launched its second strategy for the years (2021-2023) in conjunction with the economic and financial reform strategy adopted by the government in the white paper. The new strategy has drawn a roadmap with clear objectives and policies for the next three years in a special, complex and risky economic and financial situation

And the challenges at the level of internal and external economic and financial relations. What concerns us as specialists in economic, financial and banking affairs is what are the new mechanisms and policies adopted by the Central Bank in monetary policy and banking reform in accordance with the approach of fundamental change desired for the national economy contained in the white paper and the second strategy, which constitutes the banking sector The first and basic in the economy and the implementer of monetary policy applications

The strategy of the Central Bank set the main objectives at 15 objectives and the subsidiary objectives by 75 objectives and charted the way for banking reform in accordance with the following strategic objectives

1- Supporting and achieving monetary and financial stability

 2- Enhancing and strengthening the banking sector and financial institutions

3- Enhancing digital transformation in the central bank and the banking sector

4- Developing the organizational structure and human resources of the Central Bank

5- Activating and integrating the internal and external relations of the Central Bank

Since these strategic goals have been set for a period of three years to achieve the main and subsidiary goals, which emphasize the protection of the financial system, the strengthening of financial inclusion, the management of monetary and financial stability, the development of control and supervision, the development of regulation in the banking sector, and the completion of the development of the monetary structure in the Central Bank and its branches in accordance with work frameworks and techniques authorized in central banks, developing human resources, developing banking operations, strengthening the bank's internal and external relations, and representing it locally and internationally. 

By analyzing the mechanisms and points of action to achieve the above goals, we note that the strategy identified the planning team, the implementation team, the implementation mechanisms and responsibility, as well as clear priorities for achieving reform. Certainly, these priorities were diagnosed in light of the challenges they face

Monetary policy and the banking sector due to the suffocating economic and financial crisis that Iraq has suffered for subjective and objective reasons, which can be diagnosed as follows

* Work to achieve the objectives of monetary policy, the most important of which is the stability of the exchange rate, the preservation of the purchasing power of the Iraqi dinar, the inflation rate, and the building of a foreign cash reserve

* Work to restore the confidence of citizens and customers in the Iraqi banking sector

* Work to increase the percentage of savings for the monetary mass in circulation in banks to the percentage of hoarding outside banks, where the percentage of savings in the banking sector does not exceed 20%, and the percentage of hoarding is up to 80%. Increasing the percentage of financial inclusion and the delivery of banking services to the widest spread of geographical area at the level of governorates and districts aspects and the increase in banking density in this direction

* The need to complete the structural and technical foundations of proactive control

* Activate and reconsider the development of work mechanisms in the Deposit Insurance Company

 * Reconsidering the laws of the legislative environment that regulate banking work

* Reviewing and evaluating the results of banks' business and re-classifying them by accredited international companies. And to identify weak banks that need the intervention of the Central Bank of Iraq to rehabilitate them, restore their activity and protect them from bankruptcy

* Demanding government support in accordance with previous decisions and instructions issued by the Council of Ministers, the Economic Affairs Committee and the Ministerial Council for Economy

* Strengthening and activating the central bank's lending and financing initiatives for small, medium, housing and large projects, in a way that contributes to stimulating the economy, revitalizing the economic cycle and diversifying the resources of the public budget

* Developing the organizational, technical, and administrative structure of the Central Bank of Iraq and government and private banks, while emphasizing the principles of governance and determining the owners’ intervention in the banks’ executive departments

Therefore, and for the purpose of applying the banking reform approach, according to what was stated in the strategy, according to an insight into the priorities and challenges that the Iraqi banking sector suffers from, the Central Bank made exceptional efforts during this year 2021, and many goals were achieved from the main and subsidiary goals, and it is trying to complete the achievement of all goals in 2023, which is the last year of the strategy

Therefore, the strategy of the Central Bank has proven that it established, planned and identified advanced steps on the road to the systematic application of the desired banking reform  LINK

Frank26:   FROM EDDIE......

INCOMING:

Eddie:  Tv today showed CBI rep saying they now are in the second phase of strategy for economic and financial reforms in accordance with the white papers for years 2021 to 2023

They went on to talk about all the parts the CBI banks are and will do for the white papers then after that showed that this new parliament will have the most women seated ever as a record 97 women will be part of the 329 member parliament….

Kazemi on tv saying there are no losers but all winners from the elections and their will be no deviation from the legal elections and Iraq will not stand for any injustice and results are final and all are winners the Iranian back party that lost is trying cause a lot of issues but are not because sadr bloc took their seats !.....

 Wow mr frank Sadr back on tv saying the peoples oil is for the people and we will improve the dinar to be in the ranks of the international currencies gradually and activate the role of clams to support the stability of Iraq this in his interview he saying this again….

 Look look mr frank Saying Iraq’s people should be rich it’s in their constitution that the oil money belongs partly with the citizens it’s their right to have shares of the oil revenues….

 This Friday the CBI and finance minister and Kazemi all are scheduled for meetings at the main office of Kazemi this being expressed on the news and what this could be about…..

Frank26:  Eddie remember what I told you about Friday….

Eddie:  Yes sir we do also Tv saying the white papers reforms are being pushed and now we see the government activating what is needed to comply…..

Frank26:  Eddie Improve your currency to international levels …no kidding… and he says that Iraqi citizens are about to be rich… no kidding …Like we need to hear it from him lol but you will soon hear it from Kazemi and the governor of your CBI ….by the way look at the auctions today they are at a phenomenally low level for a phenomenal reason……

Eddie:  He did it again Mr. Frank look He said rv saying from finance minister Iraq needs to adjust dollar exchange rate as the price of oil exceeds 80 a barrel…..

 Hey He say lower lower exchange rate so that means dinar go up….

 Frank26:  smile……… I know….END…..FRANK26 

Frank26 "Eddie's Report" Tuesday PM 10-5-2021

KTFA:

Frank26: EDDIE'S REPORT:

TV says today the Arab payment system has linked with the Islamic banking and now can interact with payments but thing on tv talking about how important the raise of the exchange rate has been to the economy last 9 months saying it has built up reserves and stopped money laundering saying it has been a strength for the gov since raising it devaluing it Dec of last year...

Then talked about the struggles of the citizens due to high exchange rate and then more should be done to help citizens talking about how success of many major changes of financial exchanges helps with all levels of presented at beginning of calendar year saying best for true economic values and true result of the effect of done ....

Then went on talking about how many major changes around the world at beginning of year and the success talks about makes financial and economic sense to be performed at beginning of calendar year all this by the finance minister talking about the past 9 months rate then talking about things need to be done to help citizens but then talking about best time is at beginning of calendar year in his opinion.

Now Saleh on tv talking about need to lower dollar exchange rate saying they have reached maximum efficiency at current rate and to make projects work they need the exchange rate to flavor a stronger dinar value……saying Iraq must have plans in place and get this done.

FRANK REPLIED:

All they are doing is preparing you Eddie for the announcement of your new currency and your new exchange rate by injecting ideas into your mind into your daily lives that you are about to see a new monetary reform for your currency because of the success that the CBI and Kazemi have had working together to eliminate terrorism that used to rape your currency through Iran.

What Saleh is trying to tell you is that you now have what is called in the financial world the REER !!! (Real Effective Exchange Rate)

He is expressing to you that you need this true value for your currency in order for everything to work and yes he mentions it for next year at the beginning, but that is not logical the monetary reform will come long before the economic reform just like we have told you everything else I now repeat to you everything that Walkingstick and I’ve told you...

And why is that Eddie... because the two we told you to pay attention to are now telling you exactly and repeating exactly our words praise God!

I wouldn’t worry too much about the beginning of next year because that’s just his opinion and he’s just a Minister of Finance, trust me in my very strong opinion... Mustafa has a date before next year.

***********

Frank26:  "FROM THE MOUTH OF THE AUTHORITY...KAZEMI AND MUSTAFA GHALEB!!!"...F26

After The Oil Price Hike, Alia Nassif Calls For A Reduction In The Dollar Exchange Rate

28th September, 2021

Representative Alia Nassif called on the Ministry of Finance to reduce the exchange rate of the dollar after the price of a barrel of oil exceeded eighty dollars, indicating that it is not fair for the poor to pay the price of economic crises, whether they are caused by corruption or the lack of appropriate plans to deal with crises.

Nassif said today: “The price of a barrel of oil has exceeded eighty dollars, while the dollar exchange rate is still burdening the Iraqi citizen who pays the price of financial corruption and the absence of appropriate plans to confront economic crises such as the crisis of the previous drop in oil prices and the country’s dependence on oil revenues only,” indicating: The working class is the most affected by the rise in the exchange rate of the dollar, because its purchasing power is now unable to cope with the rise in the prices of food commodities and basic materials.”

She stressed "the necessity for the Ministry of Finance to reduce the exchange rate of the dollar against the dinar and return it as it was in the past, because there is no need to continue with the high exchange rate and to avoid its negative repercussions on all groups of the people."  LINK

Iraq comments on the rise in oil to $ 80 and its reflection on the 2022 budget

09/28/2021 20:38:56

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, commented on Tuesday on the rise in oil to $ 80 and its impact on the federal budget for the fiscal year 2022.

  Saleh told Al-Furat News that "if this price continues for 12 months within the current expenditure ceiling for 2022 and is the same for the current year, the budget will be in balance and there is no need to borrow or the budget will be in deficit, but on condition that the withdrawals are fixed." 

He explained, "Expenditures are out of control and will remain constants. Expenditures will be 129 trillion dinars, as specified in the budget, and there is a deficit, but the price of a barrel is 80 dollars per barrel or slightly less with oil exports of more than 3 million and 400 thousand barrels. This alone is sufficient to make the 2022 budget in There is no need for you to resolve a deficit and finance a deficit."

"By the settlement, a hypothetical deficit is set to hedge in anticipation of the instability of oil at $80," Saleh added.  He continued, "Oil is a strategic commodity with big variables, and no one knows or guesses prices, but it is in an upward trend and the reason is that there is a breakthrough in the global economy and the level of vaccinations has become high, and economies are beginning to open up to energy, travel movement is increasing, and the demand for derivatives is increasing demand for crude oil."

Saleh pointed out, "There are no bets that will last forever, and in the last decade we have witnessed a dangerous drop in the price of oil from $147 to $13 a barrel." And between "the oil countries have reservations, and it is legitimate, rational, and required not to fall into a big problem, and I believe that the 2022 budget, even if it comes with a hypothetical deficit, will tend to hedge, but if the barrel price continues to 80 dollars and the export of the same quantities of oil or more, Iraq may export."

Saleh continued, "Then the budget will be in balance, but on condition that all expenditures are met. Sometimes they are placed, but not implemented in investment and even operational budgets sometimes, and consideration must be given to the efficiency of the exchange."

The economic advisor to the Prime Minister concluded, "I believe that this number is excellent and should be used in operating the stalled investment projects and increasing employment in the Iraqi economy, which will reduce the manifestations of poverty and increase the welfare of society."

The price of Basra Light crude rose, on Tuesday, to record more than 77 dollars, with the rise in global oil prices. Basra crude, exported to Asia, rose 1.08, or 1.47%, to $77.74, while Basra Heavy crude also rose by $1.35, or 1.90%, to $72.35. All OPEC crude prices rose, as the price of Saudi Arabian Light crude reached $77.44 per barrel, while the price of Iran Heavy Blend reached $74.03,

The UAE Murban Blend reached $77.13 per barrel, and the Algerian Sahran Blend reached $78.94, while the Nigerian Bonny Light recorded $78.22, and Girasole Angolan $78.77. Global oil prices rose as a result of the scarcity of supply and the increase in demand for it, at a time when Brent crude recorded more than $80.  LINK

Frank26 Friday Night "Possible New Instructions " 10-1-2021

KTFA:

Clare:  FRANK WANTS THIS BROUGHT HERE FOR YOU ALL TO SEE:

Frank26:  "POSSIBLY NEW INSTRUCTIONS FOR A NEW CURRENCY AND A NEW RATE!!!"........F26

New instructions for buying and selling foreign currency for the year 2021 and the stability of the dinar exchange rate

30th September, 2021

Central banks in the countries of the world mainly aim to achieve economic stability by achieving stability in the monetary system and the financial system through their programs and strategies that aim to maintain stability in the exchange of their local currencies against other foreign currencies and to build sufficient foreign cash reserves to cover their local currency in circulation

In accordance with special international standards issued by the International Monetary Fund, banks are also evaluated based on other criteria related to facing crises, challenges, economic, political and security shocks, natural and epidemic disasters in their countries, controlling stable rates of inflation and interest rates, and applying internationally established regulations and rules for combating money laundering and terrorist financing

Therefore, the Central Bank of Iraq issued last week new instructions to banks and exchange companies and mediation in the sale and purchase of licensed foreign currencies. And externally, which leads to controlling and maintaining the stability of the exchange rate and compliance with the requirements of the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2021

The Governor discussed what was mentioned in the instructions with the heads of the boards of directors and the authorized managers in a specialized workshop in which he explained the objectives of issuing the instructions and the procedures required of banks to implement them as of 10/17/2021, with an emphasis on the need for banks to practice their real work as established in their Law No. 94 of the year 20034 and focus on banking finance and the many banking products that contribute to the transition of banking work from banking to contributing to development

The economic conditions and crises, the financial deficit and the decline in the financial position of the public finances, which led to a change in the exchange rate of the Iraqi dinar for the purpose of overcoming the above crises with the Central Bank taking many measures and initiatives to stimulate the economy and revitalize the economic cycle, which contributed to the passage of nine months after the exchange rate change that the rate of control is controlled Exchange in the trading market for about a month at the target rate of 1470 dinars against the US dollar

Therefore, the new instructions regulate the process of selling foreign currency in the currency window, through which it will be implemented to maintain the stability of the exchange rate, control the movement of foreign currency locally and internationally, and abide by international standards for compliance rules and combating money laundering and terrorist financing

We do not forget here how the dollar devoured the local currencies of neighboring and regional countries, which suffered from a circumstance similar to that of Iraq, such as Iran, Turkey, Lebanon and Syria, where their local currency collapsed in very large proportions. While the Iraqi dinar exchange rate stabilized within the target rate of the Central Bank, despite the speculation in the market

In order for the economic analyzes to be accurate and not extreme of the reality of monetary stability in Iraq and the effects of the expected economic, epidemiological and expected shocks on the exchange rate of the Iraqi dinar

In order not to take the expectations of media intimidation and create a state of fear in the public and in the banking sector. I assert through an insightful economic and analytical view of the state of the monetary trading market and from a neutral and transparent point of view, we note that the steps, procedures and balanced financing initiatives of the Central Bank and the availability of foreign cash reserves at the rate and at the rate that its sufficiency is determined to cover the monetary mass in circulation and to cover imports, as the foreign cash reserve is fully secured and Iraq ranks fourth in the Arab world. The Central Bank will make exceptional efforts in accordance with the monetary policy applications and to maintain the stability of the target rates of exchange rates   LINK

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Popeye7:  Since the fiscal year for the US is Oct 1st through the 30 of Sept. in seems to me that the date should be anytime...

Many are discerning the 17th of Oct... But I read the article as saying it has to be done by the 17th of Oct by the banks concerning the new procedures for the banks...

It would give them a few weeks to get used to the new rate, and currency or NSCN... God bless, and thank for the article Frank... Just to add a little more to this, and again IMO, it would seem that having this occur before Sunday Oct. 10th elections that this would certainly help Kazemi's reelection chances by having it occur a week before voters go to the polls... That way it is fresh in their minds...

Anyway, my 2 cents... God bless,

Judy, Frank26, Lynette and more Friday 10-1-2021

RV Excerpts for the Restored Republic via a GCR: Update as of Fri. 1 Oct. 2021

Compiled Fri. 1 Oct. 2021 12:01 am EDT by Judy Byington

RED OCTOBER

The Bank Panic of 1907 occurred in October.

The Stock Market Crash of 1929 occurred in October.

Black Monday in 1987 occurred in October.

Judy Note: The one and only question everyone wants to know: “Hey Google: When does GESARA start?” Google: “Friday 15th October, 2021” Could it be any more clear than that? Now count 10 Days of Darkness before to move back from Gregorian to Julian calendar + 3 days darkness Scare Event before that 10 days. You arrive at October 2nd (Mickey Mouse clock).

Activation of the Emergency Broadcast System and the time for Tier 4B (Us, the Internet Group) to set redemption/currency exchange appointments were Military decisions dependent upon a Quantum Computer’s analysis of the status of International Crises Events going on right now, including an apparent upcoming collapse of the Global Monetary System after the Fri. 1 Oct shutdown of the US government.

On Thurs. 30 Sept, without the US Senate agreeing to up the US National Debt Ceiling, the US government would be officially broke and shut down.

The IMF asked that the Kingpin of the GCR – the Iraqi Dinar – International Rate would go public on Sat. 2 Oct, while Iraq had already given their word that their Dinar International Rate Release would happen this week that ended on Sat. 2 Oct.

Sat. 2 Oct. Beginning of Three Day Scare Event, False Flag Scenerio

Tues. 5 Oct. Beginning of Ten Days of Darkness where with the Mass Media Satellite System taken down, eight hour information videos giving new revelations would be broadcast 24/7 on TV, radio and phones using the new Starlight Satellite System.

Fri. 15 Oct. End of Ten Days of Darkness, Announcement of implementation of NESARA/GESARA.

17 days! Boom! GESARA October 15th….

Remember, Remember the Fifth of November: https://youtu.be/Hm8I8X_jQIE

Thurs. 30 Sept. The Big Call, Bruce: Thebigcall.net 712-770-4016 pin123456#

We would make the changeover to the Restored Republic at midnight tonight Thurs. 30 Sept.

The new Space Force Program will consist of the Navy, Air Force, Army, Marine, Coast Guard and all Banks. All would be connected by Sat. 2 Oct. Tracking of financial information would now be done by Space Force.

80% of the banks would be Basel Compliant by Fri. 1 Oct. That is, they could move forward with the exchanges.

Bruce guessed that we would be going to exchange/ redemption appointments by Mon. 4 Oct.

Important Historic Events and dates coming NOW:

– Reconciliation day – Canada banks closed (30 sept.)

– 3 days darkness (2-3-4 Oct. 8am) Mickey Mouse clock.

– 10 days darkness. Gregorian to Julian Calendar. 10 days missing. (5-14 Oct.)

– GCR/QFS/Global Reset/GESARA/NESARA/Dept Jubilee (October 15th)

-US Gov. Bankrupt Shutdown Sept. 30th.

– 10/2, Oct 2nd, end of Trump 21 days of prayer. Mickey Mouse Clock.

– Black Swan / Evergrande China Event Stock Market Crash.

Read full post here:  https://dinarchronicles.com/2021/10/01/restored-republic-via-a-gcr-update-as-of-october-1-2021/

 ****************

KTFA:

FROM FRANK:

THANK YOU KINDLY FOR YOUR PRAYERS KTFA FAMILY..........
THE PAIN IS EXCRUCIATING BUT JESUS IS EXCELLENT AMEN.

HEY FAMILY AND YOU KNOW WHAT?

I AM CANCER FREE PRAISE GOD!.......FRANK26 

***************

DeepWoodz:  Two sets of books…..IMO

The concept of "two sets of books" refers to the practice of attempting to hide or disguise certain financial transactions from outsiders by having a set of fraudulent accounting records (or "books") for official use and another, the real set, for personal records.

As Frank has stated, Iraq is definitely conducting business with this mechanism.;) 

This is why you can have a budget with a theoretical deficit(Financial advisor Saleh’s words) and build an entire country at the same time. The year previous you couldn’t even pay salaries on time. 

This is also why you can put out these false numbers to the world, which includes parliament and the citizens, and hide what you (Kadhimi) and the CoM are really doing to reform the economics of your country. 

Didn't Shabibi say there would be confusion? The confusion is due to these two sets of books. The numbers they use, compared to watching reality unfold don’t match up. 

Consider all the talk of corruption and outside interference. What they mean to say is IRAN. The main reason for the secrecy of the budgets and the rate. 

Evergrande: Big Trouble in China. A big threat to global GDP

Miles Harris:  Sep 29, 2021

Miles Harris offers global macro insights and champions the importance of sound money in a world gone crazy.

https://www.youtube.com/watch?v=_eTjHnO737k

China Bans All Cryptos as They Increase Gold Ownership...by LYNETTE ZANG

Oct 1, 2021

https://www.youtube.com/watch?v=yoVd4i-d8Ww

Frank26 and KTFA Members Wednesday Evening 9-29-2021

KTFA:

Frank26:  INCOMING……. FROM EDDIE:

Eddie:  TV today having a little we saw world bank doing project for 100 million in ways of vaccines and health needs for Iraq then they saying the new government bonds are worth a billion dinar and will help fill budget deficits and then financial advisor to Saleh saying the 2022 budget will be sent to parliament before end of this year saying it looks good because in budget oil will be 50s and the actual price of oil is to be in the 80s so will produce excess already but saying passage of the budget probably March of 2022.

Eddie:  TV keeps talking today about the construction bonds and the relationship to the exchange rate keep talking about lowering the exchange rate we used to be 1160 and the way he talks sounds like to 1 he in other words is talking about a revalue without actually saying it but that spells out rv.

Frank26:  Smile… They are trying to tell you something Keep listening very carefully and I strongly suggest that you go Saturday to go see your friend at the bank not Friday.

Eddie:  This advisor to Saleh still on tv talking about construction bids in reference to the exchange rate.

Frank26:  Told you so LOLOLOL.

Eddie:  Jordan Egypt and Switzerland all making deals with Iraq today to return stolen funds.

Eddie: Holiday coming Sunday to celebrate Independence Day.

Frank26:  I find it interesting that Sunday is Iraq’s Independence Day very interesting… And I have always found a Saturday into a Sunday very interesting because on Sunday Iraqi banks are open and most of the rest of the banks around the world are closed…. END…….FRANK26

************

DeepWoodz:  National Day Iraq

In August 2020, Iraq’s Cabinet agreed on a draft law to mark October 3rd as Iraq’s National Day. Announcing the decision, Iraq’s Culture Minister Hassan Nazim explained that “the importance of this day is that it is an official and international recognition of the establishment of the Iraqi state, to be among the first Arab (countries) to gain independence”.

************

Frank26:  "FROM THE MOUTH OF THE AUTHORITY...KAZEMI AND MUSTAFA GHALEB!!!"...F26

After The Oil Price Hike, Alia Nassif Calls For A Reduction In The Dollar Exchange Rate

28th September, 2021

Representative Alia Nassif called on the Ministry of Finance to reduce the exchange rate of the dollar after the price of a barrel of oil exceeded eighty dollars, indicating that it is not fair for the poor to pay the price of economic crises, whether they are caused by corruption or the lack of appropriate plans to deal with crises.

Nassif said today: “The price of a barrel of oil has exceeded eighty dollars, while the dollar exchange rate is still burdening the Iraqi citizen who pays the price of financial corruption and the absence of appropriate plans to confront economic crises such as the crisis of the previous drop in oil prices and the country’s dependence on oil revenues only,” indicating: The working class is the most affected by the rise in the exchange rate of the dollar, because its purchasing power is now unable to cope with the rise in the prices of food commodities and basic materials.”

She stressed "the necessity for the Ministry of Finance to reduce the exchange rate of the dollar against the dinar and return it as it was in the past, because there is no need to continue with the high exchange rate and to avoid its negative repercussions on all groups of the people."  LINK

Samson:  The League of Arab States calls for tight policies to advance the digital economy

29th September, 2021

Secretary-General of the League of Arab States, Ahmed Aboul Gheit, affirmed, on Wednesday, that the digital economy is currently an important resource in the global economy, as data indicate an acceleration in the growth of the digital economy at rates that exceed the rest of the sectors, as its contribution is equivalent to 22% of the total output Global crude oil, while this percentage drops in the Arab world to only 5%.

Aboul Gheit added, during his participation in the opening of the Digital Economy Conference and Exhibition (Seamless Middle East 2021) in Cairo today, that "bridging this gap and catching up with the developed countries requires us, as Arabs, to develop strict and practical policies to advance the digital economy, as investment in it will allow achieving high growth rates. and sustainable development that would absorb the large numbers of young people looking for job opportunities in many Arab countries, after the high unemployment rates following the outbreak of the new Corona virus pandemic, despite the exceptional measures approved by all Arab governments to confront it.

The Secretary-General explained that "the issue of digital transformation and the modernization of the Arab strategy in this field is one of the three priorities that we have chosen to focus on in the League of Arab States, in addition to the themes of sustainable development and entrepreneurship," stressing the necessity of "attention to building capacities in the field of artificial intelligence as the technology of the future." And in this regard.”

He pointed out that "the proposal submitted by him regarding the formation of an Arab advisory council for artificial intelligence, whose membership includes specialists from Arab organizations and member states, supervises the development of an Arab strategy in this field, and provides, when needed, the necessary advice and support to Arab countries."

Aboul Gheit added, "The development of the digital economy requires basic things, including providing an incubating and supportive environment for digital companies, establishing appropriate infrastructure and flexible legislation that facilitates the establishment of companies and provides basic rules for the protection of personal data, and other requirements."  LINK

************

Samson:  PM advisor : remaining foreign debts on Iraq

29th September, 2021

The financial advisor to the Prime Minister, Mudhir Muhammad Salih, revealed the volume of Iraq's remaining foreign debt, while stressing that it has decreased significantly.

"Iraq's foreign debts have decreased significantly, and only less than $6 billion of the actual sovereign debt under the Paris Club Agreement (debts before 1990) remains," said Salih in a statement to the Iraqi News Agency (INA). 

“Payment methods include installment payment with interest until maturity at the end of 2028, accompanied by commercial debts that were scheduled after 80% were discounted in 2006 and the remaining amount is $2.7 billion.”

He explained that “the remaining amount has been scheduled and issued in a European bond to creditors since 2006 and was called (Iraq 2028), and it carries an annual interest of about 5.8 percent, as the bond will be ended. " “The European bond (Iraq 2028) is traded in the secondary capital markets where it is universally desirable in buying and selling as a result of its high guarantees,” he noted.

He pointed out that "the foreign debt does not exceed $13 billion, which increased during financing of the war against the terrorist gangs of Daesh after 2015, and there is a gradual payment mechanism for it, as allocations to extinguish it have been made within the annual general budget," stressing "the allocation of more than 9 trillion dinars in 2021 budget to extinguish debt services, and this will be the case in 2022 budget.” 

"Debts that have not been settled so far, date back to the era of the previous regime, and they must be settled under the Paris Club Agreement, as these debts belong to the four Gulf countries and 8 other foreign countries, as they are unclaimed pending due to their connection with the financing of the Iraq-Iran war in Iraq, back to 80s, amounting to about $41 billion,” Salih explained.

He went on saying that, “there are internal debts, estimated at about $50 billion, which are liabilities within the institutions of the government system, and all of them are between public finance, the central bank and government banks, that is, they are not obligations on individuals but rather within the government financial entity," pointing to "preparing steps to end it without affecting the integrity of serving economic development or affecting the country’s financial sustainability.”   LINK

Frank26 and MilitiaMan "Timing is so Very Perfect" 9-28-2021

KTFA:

Samson:  Post 111:   After The Oil Price Hike, Alia Nassif Calls For A Reduction In The Dollar Exchange Rate

28th September, 2021

Representative Alia Nassif called on the Ministry of Finance to reduce the exchange rate of the dollar after the price of a barrel of oil exceeded eighty dollars, indicating that it is not fair for the poor to pay the price of economic crises, whether they are caused by corruption or the lack of appropriate plans to deal with crises.

Nassif said today: “The price of a barrel of oil has exceeded eighty dollars, while the dollar exchange rate is still burdening the Iraqi citizen who pays the price of financial corruption and the absence of appropriate plans to confront economic crises such as the crisis of the previous drop in oil prices and the country’s dependence on oil revenues only,”

Indicating: The working class is the most affected by the rise in the exchange rate of the dollar, because its purchasing power is now unable to cope with the rise in the prices of food commodities and basic materials.”

She stressed "the necessity for the Ministry of Finance to reduce the exchange rate of the dollar against the dinar and return it as it was in the past, because there is no need to continue with the high exchange rate and to avoid its negative repercussions on all groups of the people."    LINK

**********

MilitiaMan:  The representative  of the Ministry of Finance is telling us there is a reason that a rate change is expected to go back to a prior era. 1166 is not it nor is 1182 nor is 1460 going to cut the mustard.

They are all program rate centric and harmed the citizens. They are not international, sovereign nor freely traded exchange rates globally. The next move we may see is a digitized one that will coincide with a need to make change down to the fil if need be.

All to be for the citizens benefit!! imo  Watch what they do..

 They are telling us they even now have contracts for mobile payments.. Digital ones.. imo.  All new systems will require a new internationally traded currency with value enough to need small denominations.

Timing is so very perfect.. imo..

A smooth transition may be seamless in the very near future. imo ~ MM

*****************

Frank26:  "KTFA HERE IS YOUR KEYWORD....... CADRES!!!".........F26

Frank26:  ONE MONTH AGO I USED THIS WORD “CADRES” AND WANTED TO MAKE SURE YOU UNDERSTOOD THIS WORD…THE PEOPLE IN CHARGE, THE FAB 4, ARE THE CADRES.

THEY HAVE WORKED ON THIS AND CHANGED THE RATE ON A 2ND SET OF BOOKS AND ARE ABOUT TO SHOW IT.

THEY CREATED A SAFE HAVEN FOR THE WORLD TO POUR INTO IRAQ BY ARTICLE 8. THIS IS A SYNOPSIS OF EVERYTHING WALKINGSTICK & I TAUGHT YOU……FRANK26

An economist calls for the revival of the experiment of oil-gold speculation in Iraq

09/27/2021 21:08:55

 The economic expert, Riad Al Marsoumi, called on Monday to revive the experience of speculating oil with gold in the country.

 Al-Marsoumi told Al-Furat News that "there is an old Iraqi experience in the last century, through a specialized committee in the Central Bank of Iraq, which carries out the process of trading and economic speculation in gold." He pointed out, "The possibility of this committee to benefit from fluctuations in gold prices, especially since gold and oil have a direct relationship, that is, the higher the oil price, the higher the gold price."

Al-Marsoumi considered this field "profitable. The economy can benefit from the rise in gold prices, especially since it has become an economic safe haven, after changing the exchange rate of the dollar, which is commensurate with gold in a military relationship, and there are Iraqi cadres in the Central Bank who worked in this regard."

Experts and specialists stressed that the rise in gold prices has a strong relationship with energy and oil prices, on the grounds that the price of oil has a relationship with the productivity of most commodities because it represents a part of the cost components of any commodity, whether transportation, production or others, and when any changes in its prices occur, this affects the economy The local commodity by making changes in the prices of local commodities, whether the change is up or down. Gold prices rose in Iraq, in trading this evening, Monday, despite the decline in the prices of the precious metal globally. And the price of a gram of 24 carat gold, during evening trading in Iraqi gold shops, was about 82,445 dinars ($56.49).

A gram of 21 karat gold amounted to about 72,141 dinars ($49.43). While the price of a gram of 18 karat gold in Iraq was 61835 dinars ($42.37). As for economic gold prices in Iraq, the price of a gram of 14 karat gold scored about 48,093 dinars ($ 32.95), and the price of a gram of 12 karat gold scored about 41223 dinars ($ 28.24).   LINK

************

MilitiaMan:  This is not surprising at all that they are talking about real money and commodities in which they have much of in both. Both will support the value of their currency which too is going to be a valuable commodity.

Their Bonds paying 6% - 7% respectfully may very well be the change that set the stage for all of us. Telling us they will not change the rate for four years. They will not change it again once they change back to the previous era.

One that will require them to not change the rate again because of the new exchange rate will require stability, security and sovereignty. All of which President Salih spoke about at the UN and on CNN news..

Iraq is not being quiet about what they are doing.

The last post #111  (see above) shows that they say they are going to do something, then they show us they are doing those things. The digitization of the country has been and is underway.

I expect to see them show us the 2022 budget 10/01/2021, as they have not yet exposed the 2019 FMLA - 2021 Budget yet, and the Judiciary was to have a decision on that matter on 09/23/2021 and have yet to do so. 

IF the Training Meetings are over with the Cadres, it is show time.. imo.. ~ MM

Frank26:"The US and Iraq Are Mirror images in Their Financial Crises!" 9-27-2021

KTFA:

Frank26:  Here’s some interesting stuff from Eddie today...

TV saying news that the main objective of the 2022 budget is to pay all debt inside and outside of Iraq pay all debt off then Saying the budget is still not complete and is being worked on and then they are talking about the 400 billion going to the farmers payments is coming any day now finance guy speaking on the farmers payments…..

Then something interesting happened…

Family do you remember two months ago the United Nations criticizing Iraq for humanitarian reasons which was a bunch of lies. Then do you remember last week the United Nations coming out and saying that Iraq is about to become a leader in the Middle East….

Well it turns out that everybody knows what Iraq was about to do…. the problem is nobody knows when they are going to do it…

Frank26:  But besides the United Nations we now have an American news network that is also trying to tell the rest of the world what everyone knows already….

Now watch this from Eddie about an hour later this came in…

News saying president Saleh on interview with CNN talking about how Iraq will be a stable force with full sovereignty in the Arab world saying with construction, new infrastructure Iraq will rebound as leader in region then CBI offering two new financial bonds today for investment….

To which I told Eddie: Everybody knows what Iraq is about to do and when the United Nations bragged about Iraq being a leader in the Middle East last week it’s very encouraging now to see an American news outlet like CNN interviewing Saleh and saying that Iraq is about to become a leader in the middle east… saying that Iraq is a full sovereign country now well isn’t that amazing that everybody knows what we have been sharing since the beginning of this year……

Eddie is sending the link Eddie says it’s CNN American TV we should see it.

Spokesman for Kazami on tv talking about exchange rate and saying it must take time due to economic conditions and stability talked about the previous rate and it even referred to 2006 and 2008 but was saying it take time…..

Eddie He is correct it does take time and it was called the RV the re-calculations of the exchange rate and that was done a long time ago and that’s why they talk to you instead about the new exchange rate and the new currency that is soon to come out…

That’s all for now family but I want to ask you a question because what I will share with you in the next two days will be better understood with the following…….Iraq and the United States of America share the same financial fiscal year …………… therefore they share the same financial position….. God bless you all and stay in constant prayer because Holy Father loves to hear from us…..FRANK26

VIDEO FROM FRANK OF THE INTERVIEW:   https://youtu.be/31DpXQIsXr8?t=1

Frank26:  THE UNITED STATES OF AMERICA & IRAQ ARE MIRROR IMAGES IN THEIR FINANCIAL CRISES. WHAT WE MEAN BY THAT IS, THAT IRAQ IS ON A FISCAL CALENDAR  AND IT WOULD BEHOOVE THEM TO RELEASE THE NEW EXCHANGE RATE AND NSCN’S (new small currency notes) BY THE 30TH OF SEPTEMBER BECAUSE THAT IS THE END OF THE FISCAL YEAR OR THEY WILL DAMAGE THEIR REFORMS IF THEY DO NOT.

WITH THAT SAID….. I FIND IT INTERESTING THAT THIS COINCIDENCE IS SO CONVINCING AND TELLING CONSIDERING THE DEBT CEILING OF THE UNITED STATES OF AMERICA THAT MUST BE RAISED BY THE SAME 30TH OF SEPTEMBER BECAUSE BOTH IRAQ AND THE UNITED STATES OF AMERICA ON OCTOBER 1ST WILL NEED FINANCIAL POWER THAT ONLY THEIR CONSITUTION CAN PRODUCE………..FRANK26

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Frank26:  WHY DID I SHARE TODAY ABOUT THE FINANCIAL CALENDARS OF IRAQ AND USA? …...BECAUSE THE GOP JUST BLOCKED THE DEBT LIMIT HIKE ON GOVERNMENT FUNDING ......................... LOL ..... HEY biden ...................GOD'S WATCHING YOU ................. SMILE.....F26

GOP blocks debt limit hike, government funding

BY JORDAIN CARNEY - 09/27/21 06:38 PM EDT 

https://thehill.com/homenews/senate/574166-gop-blocks-debt-limit-hike?jwsource=cl

 Senate Republicans on Monday evening blocked a measure to fund the government and suspend the debt ceiling, carrying through on their threat to not deliver votes for a Democratic measure to raise the government's borrowing limit.

The vote tally was 48-50. Sixty votes were needed to advance the measure.

No Republicans voted for the legislation.

The setback is the latest in a slow-motion brawl over how to fund the government and deal with the debt ceiling, which kicked back in on Aug. 1 with the Treasury Department using “extraordinary measures” since then to keep the government solvent.

Congress has until the end of Thursday to pass a government funding bill to avoid a shutdown the following day. The deadline for needing to deal with the country’s borrowing limit is less definite. Treasury Secretary Janet Yellen warned congressional leadership they might need to take action as soon as next month.

Democratic leaders haven’t unveiled what their next step will be, but they are vowing to prevent a shutdown on their watch. In order to deliver on that promise, they’ll need Republican cooperation to speed up a government funding bill.

Senate Majority Leader Charles Schumer (D-N.Y.) initially voted to start debate but switched his vote — a procedural move that allows him to easily bring the measure back up for consideration.

"I changed my vote from yes to no in order to reserve the option of additional action on the House-passed legislation. Keeping the government open and preventing a default is vital to our country's future and we'll be taking further action to prevent this from happening this week," Schumer said.

 If they punt the debt fight for now, they have options on funding the government, either sticking with the Dec. 3 end date or going with a bill to try to line it up with the potential “x” date in the coming weeks when Congress will have to address the debt ceiling.

“Well, I don’t want to shut down the government,” said Sen. Dick Durbin (D-Ill.), while noting Schumer has the final say on strategy.

A spokesman for Speaker Nancy Pelosi (D-Calif.) didn’t respond to a request for comment, but Pelosi told reporters late last week that “we will keep our government open by Sept. 30, which is our date, and continue the conversation about the debt ceiling, but not for long.”

Republicans have warned for months, including just hours before Monday’s vote, that they won’t help Democrats raise or suspend the debt ceiling. Democrats voted with Republicans during the Trump administration to suspend the debt ceiling as part of larger funding packages.

“For more than two months now Senate Republicans have been completely clear about how this process will play out. So let me make it abundantly clear one more time, we will support a clean continuing resolution that will prevent a government shutdown. ...We will not provide Republican votes for raising the debt ceiling,” said Senate Minority Leader Mitch McConnell (R-Ky.).

McConnell and other GOP senators tried to bring up a short-term funding bill without the debt hike but Democrats blocked the attempt.

Democrats, meanwhile, tried to ramp up pressure on Republicans, warning that by shooting down the House-passed bill they are pushing the country closer to a default. Though the United States government has never defaulted, a similar standoff in 2011 resulted in S&P stripping the United States of its longtime AAA credit rating.

Schumer called the GOP position “unhinged,” arguing that there was a choice between “preserving our full faith and credit or vote in favor of an unprecedented default.”

They are “deliberately sabotaging our country’s ability to pay the bills and likely causing the country’s first-ever default in American history,” Schumer said.

Sixty-four House Democrats, including Majority Leader Steny Hoyer (Md.), sent a letter to McConnell on Monday arguing that Republicans are risking the country’s economic recovery, after it took a massive hit last year when businesses closed during coronavirus restrictions.
“Holding the debt limit hostage ... is a dangerous, illogical, and irresponsible way to express that concern,” the Democratic lawmakers wrote.

But that’s done little to move Republicans, who are trying to force Democrats to raise the debt ceiling on their own through the $3.5 trillion spending package that they can pass without any GOP support.

McConnell, speaking on the Senate floor, noted that Senate Democrats hadn’t voted for raising the debt ceiling during the George W. Bush administration when Republicans controlled both chambers and the White House.

But Democrats didn’t filibuster that debt ceiling hike, meaning Republicans were able to raise it on their own with a simple majority. GOP leadership has acknowledged that they have conservative members who are filibustering the government funding-debt bill, forcing Democrats to seek the higher target.

Republicans see a political advantage to forcing Democrats to raise the debt ceiling on their own through reconciliation: Doing so forces Democrats to raise the debt to a certain number, instead of doing a suspension through a certain date. The move would likely be fodder for campaign ads against vulnerable Democrats in the 2022 midterm elections.

 Republicans also hope that adding the debt fight to the reconciliation bill will make it harder for Democrats to pass the $3.5 trillion package, where they are already facing internal pushback over both the scope and the details of the sweeping bill.

 Democrats could amend the budget resolution to try to include the debt limit, though there’s no guarantee that it will line up with the spending bill. They’ve been reluctant to put that option on the table, pushing instead for a debt vote that is bipartisan.

The U.S. is on track to default on the national debt between Oct. 15 and Nov. 4 if Congress is unable to raise the federal debt ceiling, according to a forecast released Friday by the Bipartisan Policy Center.

Durbin said he expected Congress would need to act in a “matter of days” but didn’t endorse using reconciliation.

“I wouldn’t jump into any approach,” Durbin said, adding that “Schumer might have a better approach.”

Updated at 6:52 p.m.

https://thehill.com/homenews/senate/574166-gop-blocks-debt-limit-hike

Frank26 , MilitiaMan and more Wednesday 9-22-2021

KTFA:

Frank26:  (See article below) "THE NATIONAL PRODUCT ........... IS THE NATION’S CURRENCY ............. HE IS HINTING AT THE NSCN’S. ALSO ............... THIS IS A POLITICIAN FROM PARLIAMENT TRYING TO BUY VOTES VIA THE MR AND ER.

ALSO ............'LORD OF THE LAND' IS ............. THE CITIZENS OF IRAQ. ALSO VERY IMPORTANT ............... TO END THE 'EXTERNAL OCCUPATION' ........... IS A KEY YOU SEE .............. WHEN GERMANY............... 'OCCUPIED' ............... OTHER NATIONS IN EUROPE ................ THEY TOOK AWAY THE SOVEREIGNTY OF THAT NATION ...................

THIS POLITICIAN IS SAYING THE CBI IS NOW IN TOTAL CONTROL OF ITS NATION’S ..................
CURRENCY ..........................NO ONE OUTSIDE OF IRAQ NO LONGER HAS CONTROL OF THE CBI AND THE IQD !!! !!! !!!"........ F26

 Al-Amiri promises the "Lord of the Land" a promising plan and pledges to end the "occupation of the dinar"

18th September, 2021

The Secretary-General of the National Producer Gathering, Jassem Al-Amiri, launched his electoral campaign for the early parliamentary elections scheduled for the tenth of next October, listing his step within the framework of "change" and a promise to reform the agricultural and industrial sectors and end the occupation of the Iraqi dinar.

Al-Amiri said in a statement, received by the "National News Center", that "we have a few days to choose one of the two paths, the first is actual and practical reform, and the second is for the situation to remain as it is now."

He added that "the first path, despite its difficulty and rugged roads, is the approach adopted by the National Producer's Assembly," stressing "the determination of the National Producer Group" to achieve actual reform through the ballot boxes, and our plan in this is to develop the agricultural sector and for the Iraqi farmer to be the master of the land and its producer.

And he indicated that "the plan includes the development of the industrial and banking sectors, accompanied by the practical sovereignty of the national product," pledging to "end the external occupation of the Iraqi dinar by certain and specific countries."  LINK

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Frank26:  "THE CENTRAL BANK OF IRAQ IS NOT WAITING UNTIL NEXT YEAR"...........F26

Finance talks about the salaries and promotions of employees

19th September, 2021

The Parliamentary Finance Committee confirmed, on Sunday, that the employees’ salaries are secured and that the financial surplus allows for the release of upgrades, noting that if the experience of the Central Bank fails to reduce the exchange rate of the dollar, the trend in the coming years will be towards re-exchange to the old rate.

Committee member Naji Al-Saeedi said in a press statement, “The salaries of employees in the current budget are absolutely secured, and there is a surplus and there is no deficit in the budget, and this surplus can be used to launch bonuses and employee promotions, and most ministries’ budgets allow this.”

Al-Saidi added, “Special job grades will be launched for all ministries in the next budget,” noting that “with regard to promotions, as we know, they have been suspended for years, but most ministries allow promotions, including the Ministry of Education, and there is a plan in the rest of the ministries, and the financial allocation for the rest of the ministries will be provided and launched in next years".

As for the price of the dollar, the committee member explained, “It is a governmental issue that has nothing to do with the House of Representatives, and it is an arithmetic issue through calculating the general revenues of the budget,” stressing that “if there is a failure in the experience of the Central Bank about reducing the exchange rate of the dollar against the dinar, the trend will be in the coming years are about changing the exchange rate and bringing it back to its previous era, by allocating the price of the dollar and selling it in the markets in order to stabilize its exchange rates.”

With regard to contracts, Al-Saidi said that “according to the text of the law, those who have completed five years will be fixed on the permanent owners, and those who are not confirmed, this is due to the issue of local revenues because their budget is self-balancing.”   LINK

MilitiaMan:  Iraq's position in the Fintech Industry Index FinxAr: LINK

In the wake of three industrial revolutions that the world witnessed, our world today lives in the era of the fourth industrial and technological revolution, which is based on unprecedented developments in the field of communications, information networks, digital technologies, big data, currencies, digital wallets, digitization of accounts, payments, chain of large data, the use of digital identity and electronic signature...etc.

Accordingly, the search for and application of these technologies in the implementation of transactions and how to use them has become not an intellectual luxury as much as it is an inevitable necessity imposed by the developments of the technological revolution.

Modern financial technologies Fintech are products and services that rely on modern technology to improve the quality of traditional financial operations or have an impact on financial institutions, including electronic payment applications, virtual currencies, digital identity, electronic signature and eKYC model. in the lives of societies and individuals.

The annual General Index of Modern Arab Financial Technologies (FinxAr) aims to stand on the efforts of Arab countries in supporting the development of the modern financial technology industry, and to contribute to setting a vision for the modern financial technology industry in Arab countries and how to support the incubating environment for it, and to shed light on the challenges facing the development of the modern financial technology industry. 

The indicator is the first of its kind at the level of dimensions it deals with to measure its efforts to enhance the incubating environment for modern financial technologies.

This axis is represented by legislation, laws, rules, regulations, institutional framework and supervisory bodies responsible for these activities and the extent of their governance, as well as packages of national programs, initiatives and strategies necessary to build an environment that incubates modern technologies.

Increasing access to digital finance and other associated technologies and increasing the use of smart devices as incubators for financial innovations.

https://ifexiraq.com/agenda/

**************

 Day 1, 22nd September 2021

10:00 – 12:00OPENING MINISTERIAL WELCOME & VIP SESSION

H.E Professor Ali Allawi, Minister of Finance & Deputy Prime Minister

H.E Mustafa Ghalib, Governor, Central Bank of Iraq

H.E Suha Najjar, Chairwoman, National Investment Commission

H.E Salem Chalabi, President & Chairman, Trade Bank of Iraq

12:30 – 13:30IRAQ’S FINTECH REVOLUTION

How can the banking sector fast-track FinTech into their business model?

Adopting FinTech platforms as a source of legal and financial compliance.

Where does Iraq stand as a FinTech provider? Key FinTech technologies in Iraq.

Creating a legal ecosystem that enables FinTech’s to thrive and banks to digitize.

14:30 – 15:30 MOBILE BANKING SOLUTIONS FOR IRAQ

How can Iraq accelerate the development of electronic banking & mobile banking? solutions?

Secure Mobile Payments & the role of 5G to accelerate mobile banking practices.

Digital lending and loan platforms for a mobile market.

New innovations and technologies to satisfy the Iraqi market.

Cross border international technology: Innovation for mobile international payments. (See link to last day of Expo 09/23/2021 for additional data).

Adviser to the Prime Minister: The 2022 budget will be distinguished by something important, and we do not rule out surprises
08/29/2021 11:36:08

." Saleh pointed out, "Circumstances are changing, and there may appear surprises, as it relied on an oil price of 50 dollars per barrel, according to what was announced by the Ministry of Finance."

And Finance Minister Ali Allawi announced last Thursday (08/26/2021) the completion of the preparation of the draft financial budget law for 2022, and that it will be presented within 3 weeks to the Council of Ministers.  

The budget for the year 2022 will be completed within 3-4 weeks (08/29/2021) and presented to the Council of Ministers, expecting to submit it to the next parliament.

 **************

Finance Minister: We have started reform, and we need everyone's concerted efforts.

We are moving towards offering treasury bonds for trading in the Iraqi Stock Exchange,

He said: {Reform of government performance and the economic system is inevitable, and far from it we cannot create an incubating environment for the economy}, pointing out that we have begun a real reform of government institutions, banks, customs and taxes, in order to manage Economy".

LINK

"It is noteworthy that the government specified in this budget In 2021, the price of a barrel of oil is based on $ 42 per barrel and an export rate of 3.25 million barrels per day, but Parliament calculated it at a price of up to $ 45, using the Iraqi currency in evaluating the price of a barrel instead of the dollar, which ended a major political debate about restoring government support to the value of the dinar.  Iraq against the dollar."

 LINK

The Federal Court sets the date for the decision to appeal the budget.

The court had set September 19 as the date for hearing the budget appeals. (today)

 channel and followed by "Al-Iqtisad News", that "the 23rd of this month has been set as the date for the issuance of the decision to challenge the budget. (Thursday)

LINK

Al-Amiri promises the "Lord of the Land" a promising plan and pledges to end the "occupation of the dinar"

The Secretary-General of the National Producer Gathering, Jassem Al-Amiri, launched his electoral campaign for the early parliamentary elections scheduled for the tenth of next October, listing his step within the framework of "change" and a promise to reform the agricultural and industrial sectors and end the occupation of the Iraqi dinar.

And he indicated that "the plan includes the development of the industrial and banking sectors, accompanied by the practical sovereignty of the national product," pledging to "end the external occupation of the Iraqi dinar by certain and specific countries."

***********************

MilitiaMan:  From the amount of convergences we see above they timing is clearly in our favor for an exchange rate change.  The are openly talking about digitization and with currencies being apart of the future outlook and much more.

There are clear time frames being talked about. They are their words and not mine.

I suggest one reads the snippets and take in the chronology of events seriously. They are profound in correlation and timing. The process to digitize is inevitable. It is new and is at incubator status.

That means ground floor to investors. Thus, the new economic environment is ripe to grow and big time!

The environment will need the exchange rate to be with out occupation. As, in not at a program rate

. They even tell us so and that specific countries have had a hand in keeping the exchange rate occupied. They had to to get this to where we are now. A place where Iraq goes digital and international. 

They even told us that it is inevitable and that they already have it in the cards to evaluate oil pricing in Dinar. Digitizing Iraq at a program rate is not in those cards, in fact it won't work.

Digitizing and Block Chain technology, the most advanced systems in the world will require a level playing field. A program rate is not on one.

The 2021 Budget Amendments were said to be slated for the 14th of September, though on the 17th they told us they postponed  that until today. Today they told us they heard the appeal and will decide on the 23rd. Well, above we see events on the 22-23rd at the EXPO. Look who is in the line up.. It is the PTB in finance in Iraq.

All of the work in the White Papers PM Kahdimi laid out on 08/22/2021 are about what we are witnessing now.

 A digital transformation that will be global is fully underway and cannot stop, imo.. They are going to end the occupation of the DINAR and that means they are to have practical sovereignty over their national product, their currency!!!

That is what I see.. I hope you all do as well. Lets see if we get a surprise and they show just how sovereign they really are prior to the 23rd. ~ MM

Samson:  Parliamentary warnings of an "explosion of the situation" in central and southern Iraq

21st September, 2021

The Parliamentary Economy and Investment Committee warned today, Tuesday, of an explosion in the street in central and southern Iraq due to the deteriorating living conditions and the spread of unemployment in society.

Committee member Nada Shaker Jawdat told Shafaq News Agency, "The street in central and southern Iraq is close to an explosion, due to a frightening increase in the unemployment rate, and a decline in the economic situation in various fields, and the reason for this raised the exchange rate of the dollar against the Iraqi dinar, which increased the prices of Iraqi markets. This affected the citizens significantly, as well as contributed to raising the unemployment rates.”

And she indicated that "the Iraqi government is required to develop quick plans to address the economic situation in central and southern Iraq, as well as find real solutions to the issue of the high unemployment rate in these cities, before the Iraqi street explodes, due to the economic situation that it has been going through for a long time."

The Central Bank of Iraq had decided at the end of last year to raise the price of selling the dollar to banks and exchange companies to 1460 dinars, from 1182 dinars to one dollar, with the aim of compensating for the decline in oil revenues caused by the deterioration of oil prices.

The devaluation of the local currency against the hard currency was reflected in the prices of goods and merchandise, especially imported ones, in Iraq, as it witnessed a remarkable rise, which burdened the low-income and the poor.

Iraq relies 90% of its income on oil revenues, and the last time it devalued the dinar was in December 2015 when it raised the selling price of the dollar to 1182 dinars, compared to 1166 dinars in the past.

The Central Bank launched its decision regarding the new pricing for selling the dollar in a public currency auction on the 20th of last December. Iraq is under great pressure under the weight of the worst economic crisis it has witnessed since 2003 until now due to low oil prices and the outbreak of the Corona virus.  LINK

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MilitiaMan:  The pressure is on again and the timing ahead of elections is probably going to need to be addressed long before vote day. Just as the effects of the devaluation have had significant negative impact. Key elements that will have profound effects leading up to the election.

The PM and CBI can fix that quickly imo, possibly once a decision is made from the court on the 2019 FMLA - 2021 Budget that is set for the 23rd, Thursday that coincides with the EXPO completion day and the Jordan Delegation follow up to the tripartite Baghdad summit. (The latter was also mentioned in respect to the side bar UN meetings yesterday.) That is if a decision needs to be made by the court, as there is indication, there is no need. So the theory out there we are waiting in elections, is not in the cards imo.. ~ MM