Frank26 and KTFA Members "News and Views" 2-9-2024

KTFA:

Frank26:  "TAKES YOU OUT OF CHAPTER VII... AND PUTS YOU IN AN INTERNATIONAL BASKET!!!"......F26

 Observer: Ending the mission of the United Nations office in Iraq takes Iraq out of Chapter Seven 

 2/7/2024

The United Nations office in Iraq takes Iraq out of Chapter Seven 

Information / Baghdad..

On Wednesday, political observer Sabah Al-Ugaili called on Prime Minister Muhammad Shia Al-Sudani to end the work of the United Nations representation in Iraq, indicating that “if this matter were achieved, it would remove Iraq from Chapter Seven.”

Al-Ugaili told Al-Maalouma, “The time is right for Sudanese to ask the Secretary-General of the United Nations to end the work of its representation in Iraq, especially after Plasschaert announced the end of its mission in Iraq.”

He added, “Plasschaert’s request to end its mission and the Chinese representative’s recognition of the existence of a state of political and economic stability in Iraq gives Al-Sudani the opportunity to ask the Secretary-General of the United Nations to end the work of the United Nations office in Iraq, or at least reduce it, and then Iraq will exit Chapter Seven.”

The representative of the Secretary-General of the United Nations, Jeanine Plasschaert, had asked the Secretary-General of the United Nations that it was her mission in Iraq during her periodic briefing at the UN Security Council yesterday, Tuesday.

It is noteworthy that Iraq has been subject since 1990 to Chapter Seven of the United Nations Charter, which was imposed on it after Saddam’s regime invaded the State of Kuwait in August of the same year. This clause allows the use of force against Iraq as it constitutes a threat to international security, in addition to freezing large amounts of its financial assets in Iraq. International banks to pay compensation to those affected by the invasion.  LINK

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Frank26:  "WALKINGSTICK REMINDS US..." ................F26

 The Governor of the Central Bank of Iraq receives a delegation from the World Bank

February 07, 2024

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the World Bank headed by the Director of the World Bank’s office in Iraq, Mr. Richard Abdel Nour.

During the meeting, they discussed enhancing bilateral cooperation between the Central Bank of Iraq and the World Bank and discussing electronic payment projects and financial inclusion, as well as reform programs to enhance the stability and development of the financial sector.

The two parties also discussed the support of the World Bank to provide advice in establishing the Riyada Bank dedicated to financing small projects in Iraq, with the support of the International Finance Corporation.

In turn, the World Bank delegation praised the procedures of the Central Bank of Iraq in facilitating financial transfers to different segments in Iraq, noting that the infrastructure of electronic payment systems and software systems in Iraq are among the best systems in the region.

 Central Bank of Iraq
Information Office

7 - February - 2024

https://cbi.iq/news/view/2511

Henig:  UN to investigate claims of corruption in Iraq aid project

Guardian report found staff allegedly sought bribes in return for helping people win deals as part of $1.5bn construction programme

Simona Foltyn    Mon 5 Feb 2024 07.09 EST

The UN Development Programme (UNDP) is dispatching a team to Iraq to assess allegations of corruption in its $1.5bn (£1.2bn) construction programme following a Guardian investigation.

According to an internal document obtained by the Guardian, the UNDP’s administrator, Achim Steiner, has “commissioned a management review and assessment of the allegations” after revelations its staff were allegedly taking kickbacks in return for helping business people obtain lucrative construction contracts.

The six-page document, sent to donors on 25 January, aimed to reassure western capitals that the UNDP could hold itself to account through internal oversight mechanisms. At a subsequent meeting, several donors pressed the agency to carry out an external review to help restore credibility.

An Iraqi government official with detailed knowledge of the matter said the country’s prime minister, Mohammed Shia al-Sudani, had ordered the country’s integrity commission to launch a separate investigation.

The UNDP document said the agency had previously referred 136 cases to its Office of Audit and Investigations (OAI) in relation to the reconstruction programme – the majority of which were against suppliers rather than employees. It said 56 were substantiated, of which 52 were related to vendors who subsequently faced sanction. The document provided no further detail on the remaining four cases, or whether any disciplinary action had been taken.

The brief said the UNDP was “committed to fostering a work culture and environment where all UNDP personnel can report wrongdoing without fear of retaliation”.

Magnifying glass over the United Nations Development Programme UNDP company logo
UN staff on £1.5bn Iraq aid project ‘demanding bribes’
Read more
However, since the Guardian’s report, more UNDP employees have come forward with allegations. They described a “culture of fear” and impunity that they said extended across the agency’s Middle East offices. They accused UNDP managers who had developed close relationships with government counterparts of weaponising those ties to shield themselves from accountability while retaliating against staff who spoke out.

One person who worked at an office in the Middle East said they tried to raise the alarm over hundreds of thousands of dollars being channelled to an organisation run by a government official, but that superiors “signalled very quickly that we ought not to get involved”. When they reported the case to the OAI, the person was told they had not provided sufficient documentation for the investigation to go ahead. “The OAI doesn’t work at all. It’s completely dysfunctional,” the person said.

At UNDP Iraq, one employee filed complaints to the ombudsman and OAI alleging mismanagement and bullying by a supervisor, only to watch senior management turn against them. “They told me, either I drop my grievance or my upcoming performance review would not look good and I would be let go,” they said. The Guardian has seen copies of the complaints, but is not making further details public on this and other cases to protect the whistleblowers.

Another employee who worked for the UNDP said they were threatened by a former manager after voicing concerns over wasteful spending. “Straight away, they said: ‘You know where the door is and you won’t have a job if you continue to raise things,’” they recalled. The manager’s close ties to government officials made them untouchable. “They are in each other’s pockets, and it’s enabled from the top,” the employee said.

Last week, the UNDP’s resident representative in Iraq, Auke Lootsma, wrote in a staff email that the Guardian investigation was “very unfortunate”, adding that his office was “working with UN headquarters to refute these unfair and unjust allegations”. Lootsma asked staff to “refrain from any comment”.

In a statement to the Guardian, a UNDP spokesperson said allegations that employees were threatened with retaliation for reporting wrongdoing were “completely at odds with UNDP’s commitment to accountability, integrity and openness to scrutiny”.

The statement said the allegations were not specific enough to be addressed individually and that the agency would “welcome more details to allow the appropriate independent channels to assess further”.

It added that the UNDP’s ethics office had invested heavily in training staff on issues related to conflict of interest and protection against retaliation, and that the OAI conducted audits and investigations “independently from UNDP management or any outside party and in line with UNDP’s whistleblowing and retaliation policies”.   LINK

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Henig:  Dollar steps up over dong

By Dat Nguyen Tue 2/6/2024, 08:42 pm (PT)

 The U.S. dollar rose against the Vietnamese dong Wednesday morning.

Vietcombank sold the dollar at VND24,570, up 0.16% from Tuesday.

The State Bank of Vietnam lowered its reference rate by 0.03% to VND23,956.

It fell 0.40% to VND24,850 on the black market.

 The greenback has increased by 0.61% against the dong since the beginning of the year.

 Globally the dollar remained under pressure on Wednesday after retreating from a nearly three-month high against the euro in the previous session with a decline in U.S. bond yields adding to the drag, Reuters reported.

 Analysts pointed to technical factors for the dollar's pullback, following a two-day rally of as much as 1.4% against the euro after unexpectedly strong U.S. jobs data and more hawkish rhetoric from Federal Reserve Chair Jerome Powell scuppered bets for an early interest rate cut.

The U.S. dollar index - which measures the currency against six major peers, including the euro - was flat at 104.14, following Tuesday's 0.29% slide. It had reached the highest since Nov. 14 at 104.60 on Monday.   LINK

KTFA Wednesday Night CC: "FRANK26….2-7-24…….IQD UPDATE…..BANK ON IT"

KTFA

Wednesday Night Conference Call

FRANK26….2-7-24…….IQD UPDATE…..BANK ON IT

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=j8QMqWT441Q

KTFA Monday Night CC: " FRANK26……2-5-24……IQD UPDATE……WAIT FOR IT…WAIT FOR IT"

KTFA

Monday Night Conference Call

FRANK26……2-5-24……IQD UPDATE……WAIT FOR IT…WAIT FOR IT

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

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

Frank26 "News and Views" Sunday 2-4-2024

KTFA:

Frank26:  "THE CBI POSITIONING THE DINAR FOR THE INTERNATIONAL WORLD"..........F26

Appointing leadership positions in electronic payment companies

February 01, 2024

It was decided that electronic payment companies must obtain the approval of this bank to appoint employees who occupy important leadership positions ...For more click here

https://cbi.iq/news/view/2510

Frank26:  "REMEMBER WE SUGGESTED MAYBE 30 OR MORE COUNTRIES IN THE BASKET...
MAYBE IRAQ WILL USE THE BRICS BASKET"............F26

 34 Countries Look to Join BRICS Alliance After Saudi Arabia’s Entry

 Vinod Dsouza   February 1, 2024

Saudi Arabia joined BRICS on Wednesday and is now officially a part of the emerging economies’ grouping.

The Kingdom of Saudi Arabia’s induction into BRICS has caused developing countries to express their interest in joining the alliance. BRICS is attracting developing countries to flock towards the alliance as a handful of nations look to cut ties with the US dollar. The mounting U.S. dollar debt and the White House’s sanctions against emerging economies are what led them to consider joining BRICS.

If the BRICS alliance convinces the majority of developing countries to settle trade in local currencies, the US dollar will be the hardest hit currency. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.

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BRICS: 34 Countries Ready To Join Alliance After Saudi Arabia’s Induction

A total of 34 countries have now expressed their interest to join the BRICS alliance as of February 1, 2024, according to CNN. South Africa’s Foreign Minister Naledi Pandor confirmed in a recent press conference that 34 countries are looking to enter BRICS. However, Pandor did not specify the names of the 34 countries in the joint press conference.

The interest in joining BRICS alliance is growing from developing nations as they want to stay ahead of the changing financial dynamics. BRICS is initiating a global shift removing the spotlight from the US dollar to keeping the focus on local currencies. The paradigm shift could uproot the US dollar’s global hegemony and challenge the traditional financial order controlled by the West.

The BRICS bloc aims to replace it with a new world order and operate a ‘multipolar world’ without the US dollar. Therefore, the coming years will decide the fate of the US dollar where developing countries are putting local currencies first. The next decade could be different where the US dollar will have to fight to protect its global reserve status.   LINK

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Frank26:  "THESE COUNTRIES WERE NOT ATTRACTED BY A PROGRAM RATE... THEY WERE ATTRACTED BY SUDANI'S PROMISES.".........F26

Chambers of Commerce: Government support attracted many countries to establish economic relations with Iraq

1/31/2024  Baghdad - IA - Hassan Al-Fawaz

The Federation of Chambers of Commerce announced today, Wednesday, that the private sector witnessed a significant recovery in 2023, stressing that government support for the sector worked to attract countries to establish strong economic relations with Iraq.

The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, told the Iraqi News Agency (INA): “The private sector in Iraq witnessed a significant recovery during the year 2023, due to government support, in addition to the financial and monetary recovery in all Iraqi banks.”

He stressed, "The great government support for the private sector has had a positive impact on the influx of many countries to Iraq, to ​​establish strong economic relations." 

He pointed out, "The BRICS economic phenomenon has become a reality in changing the economic world in the world, as the dollar and the euro are no longer the main currencies in financial dealings."  LINK

Frank26:  "NO IT'S MUCH MORE THAN THAT!!! THAT'S WHY YOU HAVE A NEW EXCHANGE RATE COMING".........F26

 It may rise to 206 trillion dinars.. The Finance Committee reveals the latest developments in the 2024 budget

2/1/2024  Baghdad

Today, Thursday (February 1, 2024), the Parliamentary Finance Committee revealed the latest developments in the financial budget for the year 2024, while indicating that it will rise to 206 trillion dinars instead of 199 trillion dinars.

Committee member Mustafa Al-Karaawi told the official agency, “Article 77/Second of the Tripartite Federal Budget Law for the years 2023, 2024, and 2025 stipulates that the House of Representatives will be provided with updated tables for the 2024 budget in order to discuss the file of increase or decrease in the file of financial allocations according to expected revenues and according to the price of oil.” Installer". 

He added, "The schedules are still being prepared in the Council of Ministers in preparation for approval, and the House of Representatives will begin discussing the budget after it arrives from the government. We believe that transmission must be accelerated because the delay may restrict the disbursement of operational and investment budgets in the coming days," noting, "Disbursement is now limited to salaries." employees and their benefits directly.”

Al-Karaawi stressed that “the issue of updating the tables depends on the oil market and the quantities exported, on the basis of which the expected revenues will be calculated, and it is based on the size of expenditures and the percentage of the deficit, “pointing out that “there is a point of view that occurred in the 2023 budget according to the quantities that were spent and how to deal with it.” The deficit and revenues achieved, and it is assumed that there will be a growth in expenditures given that there is a growth in the operating budget, and there are contracts concluded in 2023 that have not been disbursed yet and must be added in the next budget “

Regarding the appointments, he explained that they “may include contracts, firsts, holders of advanced degrees, and governorate contracts for the 150,000 degrees that have not been implemented yet and which have been transferred to the 2024 budget.”

He pointed out that "the committee developed a proactive plan by conducting field visits to the ministries that are in direct contact with the citizen, starting with the Ministry of Health and then the Ministry of Construction and Housing to see the percentage of budget completion for each ministry at the operational and investment levels, to know the efficiency of spending.” Actual, given that performance evaluation depends on the extent to which the expected percentage matches the actual achievement.”

A member of Parliamentary Finance stated, “The committee found that there are many items that have not been funded in the Ministry of Construction and Housing, for which more than two trillion and 200 million dinars were supposed to be allocated, but about 60 percent of them are funded. This means that the government has committed itself.” With a budget greater than the possibility of implementing it.”

Al-Karaawi called on the government to “avoid this in the 2024 budget to complete the projects, infrastructure and development projects it has started,” pointing out that “there is relative progress on the issue of performance, but there needs to be a well -thought-out plan to complete what has been started so that it is clear to the public.” "For real."

He stated, “The actual outcome of the 2023 budget is that the total revenues were 134 trillion, excluding the region’s oil imports, at an oil price of $70 per barrel,” expecting that “the same price will be repeated in the 2024 budget, and therefore the revenue estimates may be the same, given that the prices are "The world is approaching last year's numbers."

He pointed out that "the total volume of expenditures achieved is 154 trillion after adding 7 trillion dinars as allocations to the budget, so its total amount will rise from 199 trillion to 206 trillion dinars."

He stressed, “According to an article in the budget, the Council of Ministers has the right to add amounts to the 2024 budget to cover the deficit or needs in the areas of electricity, trade, and others.”   LINK

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Frank26:  "BECAUSE OF A NEW EXCHANGE RATE!!!"...........F26

 Planning: The current year will witness an improvement in average per capita income

1/30/2024

Baghdad: The mainstay of the emirate

. The Ministry of Planning confirmed that the average per capita income last year amounted to 7-8 million dinars, and that there is a discrepancy in income rates for many segments of society, noting that oil prices contributed to the rise in the average per capita income, which is calculated after dividing the gross product.

On the population, while it is expected that the average per capita income for the current year 2024 will witness a noticeable improvement, especially after the government’s great direction in supporting the social protection program, the ration card, and providing services to citizens.

In a way that confirms an improvement in the national economy, the Ministry of Planning stated that the actions of the government and the Central Bank of Iraq contributed to the decline and stability of inflation indicators and a decline in their rates during the last two years, as the inflation rate was (6 percent) in the year 2021, and decreased in the year 2022 to ( 5 percent) and then in the year 2023 the inflation rate was 4.4, meaning less than 4 and a half percent.”

The official spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said that the average per capita income is extracted and calculated by dividing the volume of revenues or resources that the country obtains by the number of population. Thus, we are talking about a rate or average annual per capita income ranging between 7 to 8 million dinars per capita during the past year 2023, pointing out that this improvement in the level of per capita income came as a result of improved oil sales and increased prices, and thus the country achieved good financial revenues. Al-
Hindawi pointed out that The per capita income, which amounts to 7 to 8 million dinars, does not include the entire population, as the individual does not receive the same income or equally. Rather, there is certainly a discrepancy between one group and another and between one segment and another, according to many factors, and that there are segments whose average annual income may be 3 million or five million dinars.

There are segments whose annual income is 10 million dinars, or perhaps their annual income is 20 million dinars annually, indicating that the discrepancy in these numbers comes as a result of the nature of the work and the academic achievement certificate of the individual, who may also work in more than one job, as a result of which his annual income increases or decreases according to these factors, indicating Until the improvement in income rates also depends on the level of services that the individual receives, including water, electricity, sanitation, transportation methods, and other requirements.   LINK

Frank26:  "THEY TOLD EDDIE ON THE 29TH OF JANUARY, A CAMPAIGN WAS BEING LAUNCHED TO EDUCATE THE IRAQI CITIZENS ON THEIR MONETARY REFORM... THIS IS ANOTHER EXAMPLE OF IT".................F26

Empowering the Iraqi economy: growth through strategic investments and banking excellence

1/30/2024  Baghdad

 Cihan University - Dohuk held the "Third Annual Economic Forum", in the presence of Zirvan Abdul Mohsen Asaad, President of the University, and a number of experts, economists, bank managers and academic figures.

 The forum was held in the Research Center hall, under the slogan “Empowering the Iraqi Economy: Growth through Strategic Investments and Banking Excellence.”

The first session began at eleven o'clock in the afternoon and lasted for two hours, and was moderated by Ahmed Al-Saffar, an academic and former member of the Iraqi parliament.

 The first speaker was Abdul Hussein Al-Anbaki, head of the economic advisory office of the Iraqi Prime Minister, who began his speech about the challenges facing development in Iraq.

Al-Anbaki stressed "the necessity of addressing structural imbalances in the economy, pointing out the failure to achieve the goals associated with Article (25), which aims to reform the economy by diversifying sources and supporting the private sector."

 Al-Anbaki referred to the history of the Reconstruction Council and the impact of changes in its allocations on its effectiveness, proposing the establishment of an independent Popular Development Fund to finance government and private projects with soft loans.

He concluded with recommendations for administrative reform before economic reform, reconsidering the management of oil revenues, adjusting the exchange rate of the Iraqi dinar, and canceling the auction. currency, and the legislation of the public-private partnership law.”

The second speaker was Haval Siddiq Ismail, representative of the Minister of Investment in the Kurdistan Region, and Director General of the Investment Authority in Dohuk, who “presented a comprehensive analysis of the investment situation in the region. He provided details about investment projects and successful sectors in attracting investment, with a focus on challenges, opportunities, and policies.”

The government encourages investors. Dr. Haval also highlighted the regulatory and bureaucratic obstacles, and provided a realistic assessment of the difficulties and potential opportunities. Finally, he provided details about the potential opportunities and government policies followed by the Kurdistan Regional Government to facilitate a prosperous investment environment.

The second session started at one o'clock in the afternoon and lasted for two hours, and was moderated by Nawar Al-Saadi, Professor of International Economics and Director of the Research Center at Cihan University.

The second session began with a speech by Muhammad Al-Najjar, Advisor to the Iraqi Prime Minister for Investment, and Executive Director of the Iraq Fund for Development.

In his speech, Al-Najjar shed light on the “Iraq Fund for Development, which was newly established as an independent body reporting to the Prime Minister. Al-Najjar spoke about the Fund’s role in promoting change and diversifying the Iraqi economy. The Fund aims to attract local and international investors to participate in the implementation of various projects.”

One prominent example discussed by Al-Najjar is “the ongoing project to build 1,950 schools across Iraq. These projects will be delivered to private sector investors and the Iraqi investor exclusively, with guarantees such as the return of capital after five years. This approach does not encourage local investment.” "Not only does it ensure the effective participation of the private sector in the reconstruction process in Iraq."

The fund's strategy focuses on "different stages of investors, starting from local investors to foreign investors. It emphasizes the involvement of local stakeholders to enhance local ownership in development projects, with an emphasis on handing over projects to the private sector to guarantee a return on capital after a certain period."

Regarding the second speaker, Ahmed Al-Tabqajli, Chief Strategist at the Iraq Fund at the Asian Development Fund,

Al-Tabjali talked about “strategies for attracting investments to the Iraqi Stock Exchange. The market was characterized by strong performance, as the AFC Fund rose by 110.4% in 2023, making it one of the best funds in the world.” (ONLY BECAUSE OF THE MONETARY REFORM & BANKING RESTRUCTURE OF IRAQ -F26)

Al-Tabjali explained this performance “by the development of new procedures by the Central Bank of Iraq, which led to accelerating reliance on banking services and promoting growth in the non-oil economy. The market was also affected by the relative stability of the country, which created a more stable economic environment and attracted the interest of international investors.”

Al-Tabqajli also pointed to the market's role in supporting the development of an efficient economy by providing capital to companies, and believes that the development of the Iraqi Stock Exchange contributes to enhancing the gross domestic product and economic stability in the region.

Then, many interactive questions, discussions, and inputs were posed by the attendees, and in conclusion, the forum came out with a set of proposals and recommendations that will be submitted to the relevant authorities.  LINK

KTFA Friday Night CC: " FRANK26…..2-2-24……HOW TO EXCHANGE"

Note: Remember that all intel about our exchange appointments should be considered "RUMORS".  The process still appears to be constantly changing and we may not know the true facts about our exchanges until we are actually at the banks.

KTFA

Friday Night Conference Call

FRANK26…..2-2-24……HOW TO EXCHANGE

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=MtKvjcMt-VY

KTFA Wednesday Night CC: " FRANK26……1-31-24…..AKI CALLED…I AM DONE"

KTFA

Wednesday Evening Conference Call

FRANK26……1-31-24…..AKI CALLED…I AM DONE

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=_muxcy1yoBM

Monday Night KTFA CC: " FRANK26…..1-29-24….IQD UPDATE…..EDDIE GET READY"

KTFA

Monday Night Conference Call

FRANK26…..1-29-24….IQD UPDATE…..EDDIE GET READY

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=A7TBQ-EHVBg

Wednesday Night KTFA CC: " FRANK26….1-24-24….IQD UPDATE"

KTFA

Wednesday Night Conference Call

FRANK26….1-24-24….IQD UPDATE

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=L8QFpVJbc4Y

Monday Night KTFA CC: " FRANK26….1-22-24….IQD…..I LIKE THINGS IN 3’s"

KTFA

Monday Night Conference Call

FRANK26….1-22-24….IQD…..I LIKE THINGS IN 3’s

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=JzyGM63cKFk

KTFA Members "News and Views" Sunday 1-21-2024

KTFA:

Clare:  With the closure...the dollar price decreased

1/20/2024

The main stock exchange in the capital, Baghdad, closed today, Saturday, due to the decline in the exchange rate of the dollar against the Iraqi dinar.

Selling prices in money exchange shops in local markets in Baghdad reached 153,250 Iraqi dinars for 100 dollars, while purchasing prices reached 151,250 dinars for 100 dollars.  LINK

Sir_Shawn:  IMO- CBI official rate 1310
1 USD ~ 1310 IQD = 0.000763
Drop the three zeros 
1USD ~ IQD 0.763 = 1.310 
Anyone for a mic  drop…
Question is when….

Paulette:  IMO......I don't believe .76 USD for one IQD (1.31 IQD/1USD) would be adequate for the Iraqis to want to abandon the more valuable USD......The MOP/MOI study all the way back in 2009 stated 1.14-1.18USD to 1 IQD to start for 3 years prior to reinstating the true value of 3.22USD per 1 IQD

Sir_Shawn:  Well in my opinion, you are right, so this brings up the basket of currencies and the float. The Dinar will correct itself probably instantaneous. The question is the second set of books where I believe they were using the 1.31 per Dinar. We know that all those buildings and cities were not built on 1310 Dinars. But still we wait…  IMO

Paulette:  IMO......the basket of currencies is what they intend to peg to instead of just pegging to one currency - the USD.  At least this is what the CBI and the GOI has stated in the past.  If they are pegged to just one currency, if the value (purchasing power) of that currency drops significantly, so does the value (purchasing power) of the IQD.  

If they are pegged to a basket a currencies, if one drops the others keep the IQD "propped up".  This is extremely important to Iraq as they are predominantly an import country.  This is precisely what they stated years ago and those articles are probably somewhere within the pages of the Final Article thread.  Bottom line, the pegging to a basket is to maintain the purchasing power and stability of the currency and not a singular event to increase the IQD purchasing power.

The issue I still see is in order to peg to a basket of currencies, they would "officially" have to depeg from the USD.  While I have yet to see the US relinquish their receivership status over Iraq and the fact that the US is desperate to try to keep the USD propped up, I am unsure the actual mechanism of how they will be allowed to depeg and then repeg.  It seems like receivership would need lifted first for that kind of move.

The buildings and cities were built on the USD value predominantly from oil sales.  The number of IQD to the USD value seems irrelevant.  Look at Vietnam and all they have accomplished with a currency value of less than a tenth that of the IQD.  The big difference is Vietnam expanded their currency supply and Iraq has not.  Iraq clearly has full intent to RI their currency and change their currency structure to rid itself of the 3 zeros.  These articles are definitely contained in the FA thread.

If they are truly heading to a simple 3 decimal space move on their exchange rate and as you said they are heading to 1.31USD to 1 IQD, they would have to make another move first to 763.4 from 1310.  Frank has said they had planned on one more move.  As of now, a simple decimal move of 3 places would mean 1310 IQD to 1 USD would become 1.310 IQD to 1 USD or 76 cents per IQD

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Frank26:  "ATTENTION IRAQI CITIZENS... MORE OF YOUR MONETARY REFORM EDUCATION!!!"......F26

An economic expert calls for using a basket of currencies to evaluate the Iraqi dinar

 1/17/2024

 Economic affairs expert, Raad Tawij, called today, Wednesday, for the use of a basket of currencies, whether the euro, the Chinese yuan, or the UAE dirham, in valuing the Iraqi dinar in a way that competes with its valuation in the dollar.

Tawij said in a statement to the National Iraqi News Agency ( NINA ): “As a result of the high competitiveness of the Iraqi economy in the field of monetary and commodity use in its trade exchange with other countries, and as a result of its use of the dollar at a rate of 95% within the framework of the Iraqi electronic platform and for the most diverse monetary exchange and to prevent the monopoly of a country’s currency.”

One on the platform, so a basket of currencies, whether the euro, the Chinese yuan, or the UAE dirham, must be used to value the Iraqi dinar in a way that competes with its value in the dollar.”

He stressed, "Allowing users of this basket of currencies to use the electronic platform will contribute to creating monetary balance and addressing any deficit in other currencies." LINK

Frank26:  "LOL.......... SORRY, YOU HAVE MUCH MORE THAN THAT."...........F26

Clare:  For the first time...the assets of Iraqi banks record an unprecedented number

1/18/2023    Baghdad

Today, Thursday (January 18, 2024), an economic expert revealed an “unprecedented” rise in assets in Iraqi banks operating in the country.

Manar Al-Obaidi said in a statement received by “Baghdad Today” that “the volume of assets of Iraqi banks operating in Iraq amounted to more than 202 trillion dinars, which is the first time that it has exceeded the barrier of 200 trillion dinars.”

He added, "The value of banks' assets increased by 8% compared to the same period of the previous year."

Al-Obaidi pointed out that “the size of banks’ assets to the Iraqi GDP is around 52%, and despite this high percentage, it is still lagging behind compared to the Middle East region, where the size of banks’ assets to the GDP reached around 80%.”

He continued, "Government banks are still in control of the total assets of the banking sector, at a rate of about 85% of the total assets of banks, and despite the rise in the assets of the private banking sector, it still does not constitute more than 15% of the total assets of banks operating in Iraq."   LINK

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

Frank26:  "SUDANI, MAY I ASK AT WHAT RATE?"..............F26

Clare:  Minister: Baghdad International Fair achieved many partnership contracts with Iraqi and international sectors

1/20/2023

The Minister of Commerce, Atheer Al-Ghurairi, announced on Saturday the conclusion of the activities of the 47th Baghdad International Fair after achieving “a great success” amid a huge official and public outpouring, whose activities began on the 10th until the 19th of this month of January.

In a statement today, the Minister stressed that “the course’s activities were distinguished compared to previous sessions in terms of organization, qualification, diversity and size of participation by countries and companies, as well as the achievement of many partnership contracts between Iraqi sectors and sectors of countries and companies participating in the international session.”

He pointed out that "the Baghdad International Fair is a message to the world that Iraq is coming strong as an important economic player capable of containing the largest international gatherings and interacting with them in a way that serves the aspirations of our people for a free and dignified life. In addition, the exhibition was a message from the participating countries of their desire to extend bridges of cooperation." With Iraq."

For his part, the company’s general manager, Mustafa Al-Ani, confirmed, “The conclusion of the activities of the Baghdad International Fair, bidding farewell to another year in its pioneering journey that accompanied its launch in the sixties of the last century.”

He said, “This session was distinguished by the participation of 22 countries and 850 local, Arab, and international companies, which is the highest participation compared to the sessions.” Previously, the participation of the Kingdom of Saudi Arabia was the largest.

He added, "The conclusion of this session gives other aspects to the new Iraq in its economic developments, which could give it the opportunity to enter international investments, as the exhibition witnessed commercial displays of various international and local commodities and merchandise, in addition to the projects and achievements of local and international companies from various sectors, as well as projects related to infrastructure." agricultural, industrial, technological and other sectors.”   LINK

"Frank's Bank Questions" From KTFA 1-19-2024

(Dinar Recaps Note: This post is for informational purposes only.  It is not legal, tax or investment advice.  Dinar Recaps advises that everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.)

KTFA:

Clare:  REPOSTING THIS BY REQUEST: (FROM 2022)

THESE ARE FRANK’S BANKS QUESTIONS THAT YOU MAY WANT TO SAVE FOR YOURSELF...

 FRANK’S BANK QUESTIONS (YOU MAY WANT TO SAVE FOR YOURSELF): 
I PREPARED MYSELF WITH WALKINGSTICK ................ HE WAS THE BANK OFFICER AND I WAS MR CLAMPLETT  …………………. 

1. IF I DEPOSIT MY PROFIT IN YOUR BANK ............... HOW MUCH WILL YOUR FDIC COVER MY ACCOUNT ................... WILL YOUR BANK CONNECT ME WITH YOUR INSURANCE COMPANIES ?.......

2. WILL YOUR BANK GIVE ME A CARD TO WITHDRAW ........... UNLIMITED AMOUNTS?............. DO I NEED APPOINTMENTS TO WITHDRAW CASH ?  WILL YOUR BANK ESTABLISH A CASH RESERVE FOR MY ACCOUNTS?......

3. YO YO YO MR BANKER ................ U ALL GOT "CDARS" TO PROTECT ME WITH ? A NICE BROTHER IN NY .......... WORKED WITH BANKS CALLED ME AND TOLD THAT ONE ............... AND MORE......

FRANK26

THE FOLLOWING QUESTIONS ARE FROM PREMIUM MEMBERS THAT WERE POSTED IN CHAT ALSO FROM 2022

1. Will you confirm the validity of my notes in house?

2. What is the spread?

3. Will they pay for the insurance on my money if I leave it in their bank?

4. How will you guarantee that my funds will be safe in your keeping?

5. Can I have my bank accounts locked down and the only one that can see my accounts is the Manager and I?

6. If I leave my money here for a set time how much interest can I get.?

7. Can I get my dinar exchanged into the USDC. Digital Dollar and sent to my crypto wallet?

8. Will they guarantee to match any better offer from another bank, so I know I am getting the best deal available by banking here?

9. How many accounts can I open up at one time?

10. If I exchange all of my foreign currency through your bank, would you charge me any service fees for the exchanges???

11. What perks above and beyond what you give to regular customers can you provide to me if I deposit with you?

12. What can you offer me that another financial institute won’t? Why should I select your institution?

13. Transfer limits?

14. How much is it to insure my bank accounts from someone hacking into my bank accounts?

15. If I only exchange some now but will be back to exchange a lot more later could I get a better spread on first exchange too?

16. Can you provide space to store gold and silver?

17. what will be your fee..will it be determined by funds remaining in account, or amount of conversion , or both??

18. Is there a dedicated contact number or person that I can speak with in regards to my account without being routed to a call center?

19. What type of timeframe is There when I request fund to be transferred to a outside Account and is there a transfer limit?

20. If for any reason your bank takes my money and then says the FDIC will help you(I don’t believe they will but not in my lifetime) what kind of policies do you have in place to stop this from happening?

21. can use this with our exchanges, https://www.intrafinetworkdeposits.com/

22. Can I get separate guarantees at each of your branch banks my money is in by having separate accounts?

23. Can I have a non interest bearing account and only make bank withdrawals from my trust? Is it possible not to have a debit card for my account?

24. What type of protection do you offer for a hacking incident through your security into my account via debit card attack?

25. Is it better to get a credit card with a high balance to get instead of a debit card so no one can get a hold of my accounts, wouldn’t this be better option then a debit card?

26. How many cashier's checks can I get on the first appointment

27. Is there a way to keep local tellers from knowing how much money you have?

28. Will your bank have the necessary equipment in house to validate the notes at the time of exchange.

29. In the news there was some stories that certain bank(s) seemed to freeze accounts over someone’s political position, is that a concern here? (shame we have to ask this now a days) imo

30. Will you offer help with our tax questions?

31. Will you have any objections to come to my attorney’s office and be recorded while doing my exchange?

32. Bank? do you have De La Rue machine?

33. How many interest-bearing accounts can I have for compounding interest from the principal?

34. How many derivatives does your bank hold?

35. Would I have a dedicated person to inform me on the growth of the rate throughout the year?

36. Will we have free access to a wealth management team?

37. Bank? Will I get a no fee account if I deposit my money with you?

38. Can you guarantee that my account would not be used to train tellers?

39. What perks will I get with my account?

40. What high-yield accounts are available at the multi-million $ level?

41. At what deposit point $ (my deposits / others I direct to deposit) will I "NOT" have to pay a spread fee?

 42. Can you get me in SILVER OR GOLD for my currencies and I prefer not to keep them at home, how does it work for you to keep here? any charges, how quickly can I get it.

43. Will you pay for INS over the FDIC if I Keep it in your banks, will you have a group health ins for my family.

44. What type of accounts will be available to me? And can you offer transfers of funds outside the USA?

45. Contact information regarding Canadian Banks?

46. how many accts are insured up to $250.000.00 can I have .....

47. Would this account be fiduciary, meaning I have control?

48. What in-house Wealth Management services do you have to offer, and what information about them is available on line?

49.What must my net worth be, to be a part of your Private Bank and what are your fees based on Assets Under Management?

50. Should we bring in 1 IQD note to establish a relationship with the bank before bring in the rest of the IQD notes?

51. Do you have multicurrency accounts, and can we have one in IQD? If not, can we open one in a foreign account and once in IQD, can we send the deposit currier protected by the bank to deposit in their account as IQD?

52. Can we have that account in IQD tied to a bank card and use it in the US, getting the bank card exchange rates that are so low?

53. Do we need a Wealth Manager prior to our exchange?

54. would it be best to get the trust set up prior to exchange

55. Can you give us an idea, by assuming only moderate risk what type of return we could get at different levels of investment left with your bank. Also, what would be the time period we would have to agree for, to get these returns.

56. How will the Bank handle a influx of exchange appointments with a unknown timeframe to exchange?

57. If several accounts are opened each with 250,000.00 due to insurance coverage if placed in trusts after one is established. Do they need separate EIN numbers?

58. When I buy my house, cars etc. what is the best rate and terms you will offer me. I believe in OPM if I can get a 1,2,3,% rate on what I borrow yet make 7,8,9,10% or more on my investments. Lets talk or should I say Negotiate! n my investments

59. If you are involved on a higher level investment platform with your bank, On average how often can you pull distributions from the investment? Annually, Qtrly, monthly, etc...

60. Does your bank participate in CDARs?

61. Why should I do business with you over your competitors?

62. If we as a Group come in and exchange our Dinars , will you drop the spread fee for the ones that would leave 50% of our exchange money in your Bank for not less than three years?

63. How soon after depositing or account opened will I be able to access funds, and will there be a limit placed on how much is withdrawn?

64. Can i deposit my ncsn (new small currency notes) in your bank ( floating)

65. How will you protect me & fight for me?

66. Can I open an account & place a few dinar in it, then hold the rest until I'm ready to fold?

67. If I exchange my Dinars here and have it deposited into my account in another Bank, What would the spread be?

68. Can I break a 25K IQD Note into smaller Dinar denominations, the same way one might break a $20 bill into smaller bills?

69. Is faxing used as alternative to emails for secure communication? (Olde school faxing)

70. Does your wealth management team set up electronic(digital) exchange capabilities for me(my investment accounts) with stateside brokerage firms that offer better (no) transaction fees between them and my foreign trading accounts?

71. Is a prudent amount for exchange be based on current debt levels? Should any amount or percentage of funds be held in reserve?? Thank You much.

72. Do you) have beneficiary accounts?

73. Will you be able to create "Clean & Clear Certificates to verify funds are legal.

74. Are you invested in derivatives? If so, which ones, and can the wealth manager give me a list of them and their 10 yr history of performance?