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
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
Government and Central Bank meetings in Davos to shorten the time towards financial and banking reform
KTFA:
Clare: Government and Central Bank meetings in Davos to shorten the time towards financial and banking reform
1/21/2024 Baghdad
Samir Al-Nusairi
On the sidelines of the Davos Forum in its 54th session held in Switzerland last week, Mr. Prime Minister, his accompanying delegation, and Mr. Governor of the Central Bank continued to hold meetings, understandings, and negotiations with the World Bank, the International Monetary Fund, the President of the European Bank for Reconstruction, the American bank, J.P. Morgan, and international financial institutions, with the aim of accelerating the procedures that... It is implemented by the government in cooperation with the Central Bank towards achieving financial and banking reform.
KTFA:
Clare: Government and Central Bank meetings in Davos to shorten the time towards financial and banking reform
1/21/2024 Baghdad
Samir Al-Nusairi
On the sidelines of the Davos Forum in its 54th session held in Switzerland last week, Mr. Prime Minister, his accompanying delegation, and Mr. Governor of the Central Bank continued to hold meetings, understandings, and negotiations with the World Bank, the International Monetary Fund, the President of the European Bank for Reconstruction, the American bank, J.P. Morgan, and international financial institutions, with the aim of accelerating the procedures that... It is implemented by the government in cooperation with the Central Bank towards achieving financial and banking reform.
In implementation of what was stated in the twelve axis of the government curriculum (financial and banking), in which the government’s program for the financial and banking sector was determined and strategic policies and procedures were drawn up in paragraphs (1-7).
To restructure the general budget, manage public money, reduce the pressure on consumer spending in favor of projects and programs for sustainable development, and pressure public debt to a minimum, and limit external borrowing to investment and service projects. The borrower will repay the loan from the project’s revenues, and establish the Iraq Fund for Development and include it in the general budget in 2023.
Controlling border crossings, reforming the tax and public sector systems, maximizing revenues for economic productive sectors other than oil, and reaching 20% in budget revenues over the next 3 years.
The primary and important goal is to reform the banking and private sector in accordance with what was stated in Paragraph (7), which considers financial and banking reform to be the beginning of reform.
A successful economy, with a focus on structuring and empowering government banks, reconsidering their work, and empowering private banks to be able to truly support investment and development. In fact, the government and the Central Bank have initiated contractual and negotiating procedures with the international auditing and consulting firm Ernst & Young, under the direct supervision and follow-up of the Prime Minister, and his emphasis on the company’s global programs being applicable and different from previous experiences, in a way that ensures achieving the goal according to the time period planned for project completion. Completely.
And the meeting with the CEO of the American bank JP Morgan on the sidelines of the Davos Forum held in Switzerland and asking him to cooperate with the Central Bank and banks to open accounts for Iraqi banks to organize financing of foreign trade and help accelerate digital transformation applications and the use of electronic payment technologies, in addition to the close follow-up of the Minister of Finance and the Governor of the Bank. Iraqi Central Bank.
With regard to banking reform, the Central Bank made great efforts to implement what was stated in the government curriculum in the face of the challenges facing the reform process, as the regulation of foreign trade financing and digital transformation in the banking sector were achieved in 2023, the near launch of a national lending strategy, and the establishment of a Riyada Bank to finance small and medium enterprises, and work continues to reduce... Fluctuation of the exchange rate of the cash dollar in the parallel market. In general, the Central Bank’s plans aim to achieve my goals:
First - Developing and reclassifying the Iraqi banking system, enhancing citizens’ confidence in it, and providing financial solvency that enables it to meet requests quickly and when required.
2-Transforming banks to their primary function, which is lending for sustainable development.
3- Banks that do not provide loans and banking facilities that help in development lose their meaning as banks, which requires a specific stance towards them from the Central Bank.
4- Banks are the lever of development and the importance of the Ministry of Finance and the Central Bank to support banks, develop their functions, and rely on their own capabilities in dealing with reputable global correspondent banks and to be regulated in the global banking system in accordance with international standards and to obtain internationally accredited classification.
5- Withdrawing funds that are outside the banking cycle and entering them into the banking system by providing comprehensive banking products and services to customers without delay, smoothly, easily and transparently.
All of the above objectives, although the period specified for their implementation according to the government timetable ranges between (1-4) years, the strategy of the government and the Central Bank for the year 2024 will shorten the time and achieve most of the above objectives.
There are banks that are moving towards the required development, banks that still need an additional period of time to achieve their goals, and there are troubled banks that are now making exceptional efforts from the central bank and the departments of these banks to rehabilitate them.
What concerns us here is the real functional role of banks in providing loans and banking facilities and the transition from the banking role to the developmental role. There are two important observations that must be taken into consideration with regard to providing loans and banking facilities to stimulate the economy.
First: The nature of the banks’ activities depends on the nature of the activities of the economic sectors, and that the economic activity is concentrated in foreign trade (imports), so it requires controlling imports, supporting the local product, and supporting the private industrial sector, which the government is currently working to promote with calculated executive measures and with the cooperation of all other sectors.
Second: It is necessary to provide a legal environment and extend the authority of the law in order to eliminate the phenomenon of defaulting on loans by making legislative amendments and treating private sector debts in the same manner as government sector debts as premium debts that must be repaid, which will help expand the private banking sector by granting all types of bank financing. .
The other important thing is the transition of the government and private banking sector to a solid and developed economic sector that is committed to international regulations, rules and standards for compliance, anti-money laundering, financial reporting and risk management, and thus to truly be a lever for development.
Contributing to stimulating the economic cycle by activating and supporting financing for small and medium enterprises and large development projects, through which the building of a solid national economy and sustainable development is achieved that ultimately serves the Iraqi people and their aspirations for a better life.
This means that each government or private bank must have a plan with specific goals for the four years specified in the government curriculum and under the supervision and follow-up of the Central Bank in the areas of development of payment systems and modern banking technologies, the transition from dealing in cash to dealing with modern electronic payment methods in accordance with international standards, and the presentation of new banking products to stimulate inclusion. Financial capacity building, training and qualification of human resources, achieving the goal of investing in human capital and developing the structural structure of the banking sector.
Banks also pay attention to applying financial stability standards, which are financial safety indicators such as the capital adequacy ratio, the liquidity ratio, and the profitability ratio such as the ratio of profit and net profit to capital, the ratio of return on assets, the ratio of return on shareholders’ equity, the ratio of activity costs, financial leverage, and the ratio of investment of funds, in addition to adopting indicators to measure efficiency. the performance. LINK
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….
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
***************
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?......
(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?
Friday Night KTFA CC: " FRANK26…..1-19-23…..IQD UPDATE …….PICNIC BASKET"
KTFA
Friday Night Conference Call
FRANK26…..1-19-23…..IQD UPDATE …….PICNIC BASKET
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#
KTFA
Friday Night Conference Call
FRANK26…..1-19-23…..IQD UPDATE …….PICNIC BASKET
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#
KTFA Members "News and Views" Thursday 1-18-2024
KTFA:
Frank26: "ATTENTION IRAQI CITIZENS... MORE OF YOUR MONETARY REFORM EDUCATION!!!"......F26
Clare: 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.”
KTFA:
Frank26: "ATTENTION IRAQI CITIZENS... MORE OF YOUR MONETARY REFORM EDUCATION!!!"......F26
Clare: 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: "THE WHOLE INTERNATIONAL WORLD IS AWARE OF SUDANI'S MONETARY REFORMS & THEY ALL WANT A PART OF IT!!!".........F26
International Finance Corporation: We want to expand our business in Iraq as an investment region
1/17/2024 Baghdad
The International Finance Corporation announced, on Wednesday, its desire to expand its work in Iraq as an attractive region for investment.
The Prime Minister’s media office said in a statement, seen by Al-Iqtisad News, that “Al-Sudani met in Davos with a delegation from the International Finance Corporation/IFC, headed by Executive Vice President Mokhtar Diop.”
The statement added, "The meeting witnessed a review of the prospects for cooperation between Iraq and the international institution, a member of the World Bank Group, in light of the Iraqi government moving forward with economic reforms and implementing major strategic and investment projects."
Al-Sudani confirmed, according to the statement, “the government’s readiness to develop the scope of cooperation and partnership with the international institution, especially after the signing of a contract between the Civil Aviation Authority and the international institution to prepare an investment portfolio regarding the Baghdad International Airport development project to be on the same level as international airports, and compatible with international standards in a comprehensive manner.”
For its part, the International Finance Corporation delegation expressed its desire to expand its work in Iraq as an attractive region for investment, as well as to participate in the Strategic Development Road project and the major projects attached to it. LINK
*****************
KTFA Wednesday Night CC: https://youtu.be/B4diqPc1bAg
JJimmyJJ: I’ve been thinking about these commodity futures that Frank mentioned at the end of the call last night.
Disclaimer: In my business career, I usually sold services, not manufactured goods, so I’ve never dealt with commodity futures. In addition, we don’t know what commodities were traded, the expiration dates of the contracts, if the differing amounts were for different length contracts, or even if these contracts are for imports or exports.
Or, in other words, there are too many unknown variables for this to be anything other than a thought exercise for fun. But, while we’re waiting for the announcement, we certainly have time. So, let’s have fun with this. All IMO…
A commodities futures contract is a contract between too large entities to purchase the commodity at a set price at a future date. And usually for a set amount. Frank mentioned, as an aside, exporting something from Iraq. So, let’s assume these contracts were exporting a commodity out of Iraq. As their major export is oil, let’s assume these are futures contracts for oil. Frank also said these contracts are in dinar, which means that, if our assumptions are true, Iraq is going against the petro-dollar and getting paid directly in dinar. Also, if these are oil futures, we can confidently assume that the Ministry of Oil worked very closely with the PM’s office and the CBI on these contracts, so they aren’t guessing. This has to be based on information.
Frank also mentioned that there were at least two different contracts: 1 at an exchange rate of $1.68 per dinar, and another at $3.04 per dinar.
Let’s assume that some entity isn’t getting a deal at almost half the rate of another entity, so the most likely cause of this discrepancy would be differing expiration dates on the contract. Perhaps the $1.68 contract expires earlier, and the $3.04 contract expires later. That would likely mean a float changing the rate.
I sure would like to see the dates on those contracts. If all these assumptions are right (and they probably aren’t), this could show both the timetable the CBI is expecting for the float, AND that the CBI is at least looking at a rate over $3.00 per dinar.
Boys and girls, this is more a WAG than a prediction, but the expectations for this RV to finally get announced have just ramped up even more. It’s getting pretty hot in this waiting room of ours!
Holy smokes and Hallelujah!
Clare: Al-Sudani: We are facing a new Iraq economically
1/18/2024
Prime Minister Muhammad Shiaa Al-Sudani expressed, on Thursday, his optimism about the general economic situation in Iraq during the next twenty years.
This came in statements he made during the dialogue session within the work of the Davos Economic Forum held in Switzerland.
He was asked about his vision of the Iraqi economic future during the next twenty years, and he replied: Yes, Iraq will be completely different for the better.
He added that Iraq is moving at a steady pace, and I believe it benefits from the support of the people of all its components and sects, and this is the source of its strength until now,” stressing, “We build our plans and programs in the spirit of partnership, understanding and consensus among the people and through its constitutional institutions we create a new economic vision, and we are facing a new Iraq economically.” Through various activities and projects, we invest in the natural materials we have, and we invest in the heritage and civilization that we carry, enabling us to move with confidence towards a better future in a strong, united, independent, and stable Iraq.”
On a parallel level, Al-Sudani met with the Director General of the International Monetary Fund, Ms. Kristalina Georgieva, on the sidelines of his participation in the Davos Economic Forum held in Switzerland.
The Sudanese media office stated in a statement that, during the meeting, financial cooperation relations between Iraq and the International Monetary Fund were discussed, within the framework of supporting the development path in Iraq.
Al-Sudani referred to the government’s plans in the field of economic and financial reform, as a gateway and basis for all the reforms that the government plans in all vital sectors.
In turn, Georgieva welcomed Iraq's accession to a non-financing program to support economic reforms, as meetings with the Fund will begin next month to implement this program.
She also praised the steps taken by the government in the field of the financial and banking system, and improving the business and investment environment, expressing its understanding of Iraq's uniqueness and the challenges it faces. LINK
Wednesday Night KTFA CC: " FRANK26….1-17-24…..IQD UPDATE….A DATE AGREED UPON"
KTFA
Wednesday Night Conference Call
FRANK26….1-17-24…..IQD UPDATE….A DATE AGREED UPON
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
KTFA
Wednesday Night Conference Call
FRANK26….1-17-24…..IQD UPDATE….A DATE AGREED UPON
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
Monday Night KTFA CC "FRANK26…..1-15-24……RESTORING CONFIDENCE !!!"
KTFA
Monday Night Conference Call
FRANK26…..1-15-24……RESTORING CONFIDENCE !!!
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
KTFA
Monday Night Conference Call
FRANK26…..1-15-24……RESTORING CONFIDENCE !!!
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
"Vietnam News" Posted by Henig at KTFA 1-12-2024
KTFA:
Henig: Fruit and vegetable exports likely to reach nearly 5.6 billion USD
Vietnam’s fruit and vegetable export turnover hit a new record in reaching nearly 5.6 billion USD in 2023, exceeding the plan by 40% and increasing nearly 66% over the same period of 2022. It also leads the agriculture product group, surpassing key crops such as rice, cashew nuts, coffee, and cassava.
VNA Tuesday, December 26, 2023 07:55
KTFA:
Henig: Fruit and vegetable exports likely to reach nearly 5.6 billion USD
Vietnam’s fruit and vegetable export turnover hit a new record in reaching nearly 5.6 billion USD in 2023, exceeding the plan by 40% and increasing nearly 66% over the same period of 2022. It also leads the agriculture product group, surpassing key crops such as rice, cashew nuts, coffee, and cassava.
VNA Tuesday, December 26, 2023 07:55
Henig: Textile-garment sector logs record number of export markets
Vietnam's textile and garment products have been exported to 104 countries and territories this year – a record number, according to the Vietnam Textile and Apparel Association.
VNA Monday, December 25, 2023 03:00
According to the Vietnam Textile and Apparel Association, the US remained the biggest importer of Vietnamese textile and garment products with a turnover of over 11 billion USD by the end of September. It was followed by Japan, the EU, the Republic of Korea, Canada, and China.
Diversifying markets, products, customers and partners is a step towards reducing Vietnam's reliance on large markets. Markets that previously did not import products from Vietnam now do so, affirming the nation's position in the global marketplace.
According to the Association, 2023 has posed significant challenges, such as the lingering global impact of the COVID-19 pandemic and a large inventory due to decreased demand.
The total export value of the industry last year surpassed 44 billion USD, but with these difficulties, it is expected to decrease by more than 9% this year to over 40 billion USD.
VNA LINK
Henig: Vietnamese currency to appreciate despite forex fluctuations
Experts predict that recent fluctuations in foreign exchange rates are short-term, and the Vietnamese currency, the dong, will trend to appreciate again in the medium to long term.
Hanoi (VNA) – After a relative period of stability, the USD/VND exchange rate has increased sharply. Experts said that the surge in exchange rates will last for just a short time, but enterprises still need to take measures in anticipation of the risks.
From August 28 to 31, the USD/VND exchange rate rose sharply. At Vietcombank, the sharpest increase was recorded on August 30, when the rate hit 24,350 VND per USD while the daily reference exchange rate, set by the State Bank of Vietnam (SBV), was 23,977 VND per USD.
However, the rate gradually cooled down after the Natonal Day holiday. Vietcombank listed its selling rate on September 5 at 24,240 VND per USD, down slightly from the previous week, while the reference rate for the day was reduced by 281 VND to 23,959 VND per USD.
Despite certain declines, exchange rates are still high, over 24,000 VND per USD, up 1.4% from the end of July and 1.6% from the year’s beginning.
In August, the SBV raised the daily reference exchange rate for the greenback by a total of 0.82% from July. This was the strongest hike since the start of 2023 and also partly reflected the pressure on exchange rates in the recent past.
Ngo Dang Khoa, Director for the foreign exchange, capital market and securities services division of HSBC Vietnam, said the pressure comes from the impact of the international market. Inflationary concerns in the US have yet to ease while interest rates in the world’s biggest economy bounced back last week. The US Dollar Index, which measures changes in the greenback’s value in comparision with a basket of six key currencies (EUR, JPY, GDP, CAD, SEK, CHF), inched up 0.65% to 104.26.
Meanwhile, the contrast between the monetary policies of Vietnam and the US is also among the causes of the pressure on domestic exchange rates. The slowdown in growth curbed inflation, and the forex market’s stability during the first months of 2023 showed the priority Vietnam has given to growth promotion. This was completely different from the US, where economic statistics remain positive and the core inflation hasn’t been brought down to the target level, forcing the Federal Reserve (Fed) to keep tightening monetary policy.
Experts said that exchange rates have fluctuated strongly as the SBV lowered regulatory interest rates four consecutive times since the start of 2023. Meanwhile, the Fed and many major central banks in the world are still pursuing tightened monetary policies to contain inflation. Exchange rate differentials form a factor encouraging the holding of foreign currencies, which has subsequently fueled exchange rates in the recent past.
In addition, weaker exports have also affected sources of foreign currency revenue, keeping exchange rates high.
Khoa said recent exchange rate fluctuations are short term, and the Vietnamese dong will appreciate in the medium to long term. In the international market, the US dollar is forecast to depreciate in the last months of the year as Fed has neared the end of its tightening cycle.
Echoing the view, Tran Van Tanh, deputy head of the research and analysis division of the Yuanta Securities Vietnam Co. Ltd, said exchange rate fluctuations are manageable, and such a tense scenario as in 2022 is unlikely to happen because the SBV now has more favourable conditions than in the same period last year. The central bank also purchased over 6 billion USD to supplement the country’s foreign exchange reserves in the first half of 2023.
He perceived that the exchange rate issue will only become truly tense if Fed raises interest rates again at its September meeting and the US dollar continues gaining strength. However, insiders predicted that Fed is more likely to maintain current interest rates. VNA LINK
Monday Night KTFA CC "FRANK26….1-8-24…….BEING BORN"
KTFA
Monday Night Conference Call
FRANK26….1-8-24…….BEING BORN
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
KTFA
Monday Night Conference Call
FRANK26….1-8-24…….BEING BORN
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
Thursday Night KTFA CC " FRANK26…..1-4-24……LET’S BANK ON IT"
KTFA
Thursday Night Conference Call
FRANK26…..1-4-24……LET’S 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
KTFA
Thursday Night Conference Call
FRANK26…..1-4-24……LET’S 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