About Iraq's Foreign Policy

About Iraq Foreign Policy

Embassy of the Republic of Iraq

In the last 10 years, Iraq has undergone a dramatic, rapid, and positive transformation and is making progress after decades of war and instability inflicted by Saddam Hussein.

Today, the Republic of Iraq is restoring its natural role as a critical global partner and a stabilizing force in the Middle East. Iraq can be a positive factor for regional stability and a friendly, peaceful country that respects national interests and understands the security concerns of our neighbors.

The priorities and objectives of the Ministry of Foreign Affairs include:

Protecting Iraq's security, stabilizing the country and preserving Iraq's territorial integrity;

Restoring international diplomatic bilateral relations and re-engaging the international community in Iraq's reconstruction and development;

Reconstructing our economy and infrastructure to raise the standard of living of the Iraqi people;

Reactivating Iraq's diplomatic missions and promoting Iraqi political, economic, social, and cultural interests;

Rejoining, and engaging in multi-lateral bodies;

Reforming the Ministry of Foreign Affairs and its activities based on new values and principles;

Pursuing our chosen path of democratization within the framework of sovereignty, unity and equal citizenship.

The Ministry of Foreign Affairs is actively pursuing normalization of diplomatic relations with the international community on the basis of cooperation and respect for mutual interests and international law and is promoting and protecting Iraq's interests through active participation in multilateral forums and initiatives.

The new Iraq is committed to upholding the universal principles of human rights, democracy and good governance, and we reject the illegal proliferation of Weapons of Mass Destruction.

 In the Middle East region, our priorities are to rebuild and enhance Iraq's bilateral relations through an active and transparent foreign policy to reengage our neighbors, strengthen relations with Arab countries and improve relations with the broader Islamic community.

We are reaching out to our neighbors and the Arab countries through participation in multilateral forums, including the Arab League, and by encouraging regional cooperation based on historical cultural ties and geographic proximity.

Iraq remains committed to its Islamic identity and, as the home to some of Islam's holiest sites; we have established procedures for religious tourism and promoting cultural exchange.

Click here to view the Constitution of Iraq.

To continue reading please go to original article here:

http://www.iraqiembassy.us/page/foreign-policy

About Iraq"s Economy

 About Iraq  Economy

Embassy of the Republic of Iraq

Agriculture

Harvesting_in_Iraq.jpg   

About 1/8 of Iraq is arable land, mainly in the north and northeast. Approximately 1/10 is permanent pasture. The most significant crops include: barley, wheat, rice, vegetables, corn (maize), millet, sugarcane, sugar beets, oil seeds, fruit, fodder, tobacco and cotton.

Iraq was formerly the largest producer of dates, and is approaching increased production after a decline during the Iran-Iraq War. Animal husbandry is widely practiced, particularly among the Kurds of the northeast, producing milk, meat, hides and wool.

Natural Resources

Oil was discovered in Iraq in 1927. Iraq has the world’s fifth largest petroleum reserves and it is also its most valuable mineral. Oil contributes the largest portion of GDP and constitutes most of Iraq’s foreign exchange. It has traditionally provided about 95% of foreign exchange earnings.

Moreover, Iraq is thought to have untapped resources and minerals, such as salt, gypsum, and stone, in addition to large sulfur reserves. Iraq has multiple other industries such as chemicals, textiles, leather and metal processing.

Finance

All banks and insurance companies were nationalized in 1964. The Central Bank of Iraq (founded in 1947 and one of the first central banks in the Arab world) has the sole right to issue the Dinar, the national currency.

The Rafidain Bank (1941) is the oldest commercial bank. In 1988, the state founded a second commercial bank, the Rasheed Bank. There are also three state-owned specialized banks: the Agricultural Co-operative Bank (1936), the Industrial Bank (1940), and the Real Estate Bank (1949).

Beginning in 1991 the government authorized private banks to operate, albeit under the strict supervision of the Central Bank. The Baghdad Stock Exchange opened in 1992. In 2003, the Iraqi government removed restrictions on international bank transactions.

Facts and Statistics

Nominal GDP (2009 est.): $65.8 billion.

Nominal GDP per capita (2009 est., PPP): $2,108.

GDP real growth rate (2010 est.): 10.2%.

Rate of inflation (2012 est.): 4.2%.

Unemployment rate (2008 official): 12% to 18%.

Budget (FY 2010): Revenues–$52.8 billion; expenditures–$72.4 billion.

Public debt (2010 est.): $92.3 million.

Natural resources: Oil, natural gas, phosphates, sulfur.

Agriculture: Products–wheat, barley, rice, corn, chickpeas, beans, dates, cotton, sunflowers, cattle, sheep and chickens.

Industry: Types–petroleum, chemicals, textiles, construction materials, food processing, fertilizer, metal fabrication/processing.

Trade:

Exports (2009 est.)–$39.3 billion; export commodities–crude oil, crude materials excluding fuels, food and live animals. Export partners (2009)–U.S. 27.6%, India 14.5%, Italy 10.1%, South Korea 8.6%, Taiwan 5.6%, China 4.2%, Netherlands 4.1%, and Japan 4.0%.

Imports (2009 est.)–$41.3 billion; import commodities–food, medicine, manufactured goods. Import partners (2009): Turkey 25.0%, Syria 17.4%, U.S. 8.7%, China 6.8%, Jordan 4.2%, Italy 4.0%, and Germany 4.0%.

To continue reading please go to original article here:

http://www.iraqiembassy.us/page/economy

About Iraq Geography Baghdad

About Iraq   Geography  Baghdad

Embassy of The Republic of Iraq

Iraq, situated in what was ancient Mesopotamia, occupies the eastern wing of the Fertile Crescent, the relatively fertile area of land in the otherwise arid region of the Middle East and North Africa.

 Iraq is bordered to the north by Turkey, to the east by Iran, to the west by Syria and Jordan, and to the south by Saudi Arabia and Kuwait. It is one of the easternmost countries in the Arab world. The country sits at the same latitude as the southern United States.

Iraq can be divided into four geographical regions: the Tigris-Euphrates alluvial plains in central and southeastern Iraq; Al-Jazeerah, an upland region in the north between the Tigris and Euphrates rivers; deserts in the west and south, covering about two-fifths of the country; and highlands in the north and northeast.

The Tigris-Euphrates river system drains into Iraq, fed by melting winter snow in Turkey that gives Iraq viable soil to support agriculture, a major component of the economy.

Urban and Rural Settlement

Over three quarters of the Iraqi population lives in urban environments, mostly in Baghdad, Basra, Mosul, and Erbil. Baghdad, a major metropolis, and the capital, is the political, economic, and communications hub of Iraq. Close to one third of the total population of Iraq lives in Baghdad.

Historically, Baghdad sits in the same area as Babylon. The city of Mosul, second only to Baghdad in its size, sits on the Tigris near the ruins of the ancient Assyrian capital of Nineveh and has recently experienced rapid growth.

Towns, hamlets and villages comprise the remainder of the population. These are situated throughout Iraq, but mostly in the lowlands and valleys around the Tigris and Euphrates rivers. Most of these populations depend on agriculture for their survival.

Facts about Iraq’s Geography

Fifth largest proven reserves of petroleum in the world.

Substantial reserves of natural gas.

The mountains, hills and plains of north and northeastern Iraq occupy about 35,500 square miles (92,000 square kilometers), about one-fifth of the country.

Dams form an important role in controlling flooding and permitting irrigation, and Iraq has many giant irrigation projects.

Area: 437,072 square kilometers; about the size of California.

Cities: Capital–Baghdad (7.2 million, 2006 estimate). Other cities–Basra, Mosul, Najaf, Karbala, Erbil, and Kirkuk.

Terrain: Alluvial plains, mountains and desert.

Climate: Mostly hot and dry.

Climate and Soil

Iraqi Kurdistan Region

Iraq’s average temperature is 70 °F (21°C), and the average monthly rainfall is less than an inch (16 mm), depending on the season. There are two seasons, summer and winter, with only short transitional periods between the two. Summer lasts from May to October and is characterized by cloudless skies, hot temperatures, low humidity and no precipitation from June through September.

Temperatures in Baghdad average 95 °F (35 °C), but have been recorded up to 123 °F (51 °C) during summers. During the winter, which lasts from December to February, temperatures are mild with bouts of hot and cold ranging between 35 and 60 °F (2 to 15 °C). Rainfall averages just over an inch per month (29 mm) between November and April.

Iraq has two climatic provinces: the hot, arid lowlands, including the alluvial plains and the deserts, and the damper northeast, where the higher elevation produces cooler temperatures.

The lowlands are covered by heavy alluvial soils with a high proportion of clay that is suitable for cultivation and building materials. In the northeast, summer is shorter while the winter lasts longer. The greater winter rainfall sustains good seasonal pastures.

Common to all of Iraq is the steady northerly and northwesterly wind, which brings extremely dry air and a cloudless sky. Additionally, a southern and southeast wind brings dust storms throughout the year, but most frequently in the summer.

Plant and Animal Life

Sheep herding in Iraq

Vegetation in Iraq is characterized by drought. Iraq’s arid climate and harsh terrain are not conducive to wildlife. The most common animals are birds, such as ducks, partridges, snipes and herons, and small mammals like badgers, otters, and muskrats. Gazelle also exist in the country’s remote deserts.

Other wild animals include camels, pigs, jackals, foxes and rabbits. Various species of water buffalo are bred in the marshlands. Desert locusts, which are common across the Middle East, also live in Iraq.

Few forests exist, with the exception of small oak forests in the north and northeast. Alpine plants grow in the cool, dry climate of the mountains. Shrubs and herbs grow in the more arid regions, and grasses and lush plants thrive along the Tigris and Euphrates rivers.

Two of the most common lush plants are licorice and the date palm. By some estimates, Iraq has more than 22 million date trees. Other major crops include barley, wheat, watermelons, tomatoes, grapes, cucumbers, and oranges.

To continue reading please go to original article here:

http://www.iraqiembassy.us/page/geography

"Dubious Sources Create Skewed Information"

"Dubious Sources Create Skewed Information"

By  Ron Giles - 10.24.19

I am not going to delude myself into thinking that anything I write in this post will change the runaway narrative of useless streams of dubious information that has permeated a lot of the reporting on IDC. This dubious information has now become an IDC narrative that builds on concepts and ideas that are contrary to and skew the truth.

Reference: Judy Byington’s Restored Republic via a GCR: Update as of Oct. 20, 2019

Comment on Judy’s reporting;

Judy reports on the information she gathers from many different sources on the internet. That means she is only parroting/reporting on what other people say. In her disclaimer, she mentions that it is up to the individual reader to use their own discernment. Taking everything, she writes as being the truth goes against the disclaimer.

It is wise to read the disclaimer from time to time to keep this fact in mind as one reads the post instead of just skipping over it and going on to the new information being reported.

Thank you, Judy, for your efforts and willingness to do a great service to IDC readers. You are appreciated and revered for what you do.

That being said, let's dive into the fray and see where it takes us. First, Let’s take a look at what one segment of the following report has to say in Judy’s post on October 20, 2019. My comments will be in italics

1. There have been very heated meetings in Reno. There are those in Reno (like Mnuchin) who do not want Tier 4B to go. They know they can't stop it but are trying their best to slow it down. There are those in security and the White Hats who are not legit and who don't want this to happen. The Powers That Be do not want us in control and don't want us to move forward with humanitarian projects.

Ron Giles:  Reno is not activated yet and is not involved in the decision-making process of the RV. The decisions are in the hands of the Alliance in coordination with the Chinese Elders and Grandfather. When our funds are determined to be safe; the RV/Redemption will take place without prior notice.

2. The military changed protocols, procedures and policies, and that has created a bottleneck that is very hard to get out of.

Ron Giles:  The Military is a dynamic responsive organization and fully capable of making changes in response to the enemy’s moves. They are not a bottleneck. There is no room for blaming anybody. We are at war.

3. China is tired of the hype and all is being moved from Reno to Hong Kong. We are hoping that by this being transferred to Hong Kong that a lot of the bugs, politics, and quibbling is stopped. If Hong Kong is taking it over it means the 2% fee will not be paid to the US Treasury.

Ron Giles:  There are no designated headquarters for the RV in any city. When the decision is made the 800# will be released and the RV/Redemption will begin everywhere in the world at the same time. All go or no go has always been the mantra and still is. All RV/Redemption funds will go into the QFS.

The QFS is not a bank, it is a Financial institution in service to mankind. There will never be any fees or taxes on our funds, not even the payments from the structured payout interest payments. These funds are for humanitarian projects and no entity will ever tax these funds as income tax. NEVER!

4. There was a group of the Chinese running some work through Reno, and someone in Reno stopped them – they were stopped 4 times. This week they put something on it that led to a specific computer and person who kept stopping it. He was arrested. They tried again and a 2nd person was arrested and did it again – now we are waiting to see what happened. Interpol was brought in by the World court. Second time Interpol made the arrest.

Ron Giles:  Speculation only with no supporting info, only drama-useless information.

5. We know many of our calls go directly to Trump and Chairman Xi – They know what we are saying. We don't provide intel – we provide information.

Ron Giles:  All information calls are monitored but not by Trump or XI or another world leader, they have other work to do. The Alliance keeps track of all conference calls to see what damage is being done. Damage = crimes = Criminals = jail time= justice.

6. You give a zip code where you want to exchange. Then you tell them if you have Zim and/or currency. If you have Zim will be transferred to a live person at Redemption/ Transition Center, you will be going to and they are the only one who will get your name. When you arrive at your appointment, you will complete an information sheet about who you are. Next, you will meet with those who will do the actual transaction and they are the only one who gets your name. Then you will request to meet with a wealth manager.

Ron Giles:   When you call the first 800#, you will be given a new 800# to call to make your appointment at a redemption center near your zip code, or an authorized QFS agent bank. The use of Wealth managers will be a choice you make on your own if you think you need one. I will not be using any bank-sponsored wealth managers.

They are involved with making money for their clients which is against the rules for Exchange/Redemption funds. Most bank associated Wealth Managers have no training in humanitarian work and thus are not a good source of information or counsel.

A person with an MBA degree, one who has expertise in structuring a business model, would be a better source. Reason this out; If wealth managers were so good why is it that we lightworkers are getting the money instead of governments, banks or their wealth managers? We are the ones who will do the heavy lifting of mankind out of poverty and lack consciousness. We are the pure in heart, not them and that is why we have been given the opportunity to serve.

To continue reading, please go to the original article here:

https://inteldinarchronicles.blogspot.com/2019/10/dubious-sources-create-skewed.html

What It’s Like to Have a Billionaire Brother

What It’s Like to Have a Billionaire Brother

‘Are the rich really different from the rest of us?’ I ask myself while wrestling with my billionaire younger brother at 3 a.m.

Eric Spitznagel  Oct 5 · 10 min read

For most of the last decade, my brother Mark and his family lived in a house with a moat.

The house — a four-bedroom French villa in Bel Air previously owned by Jennifer Lopez and Marc Anthony — is pretty impressive even without the moat, but that unnecessary protective trench gives the house a certain surreal charm. It’s nice to know that when you visit your family for the holidays, you don’t have to worry about Spanish conquistadors.

When I tell people about my brother’s moat house, they usually ask, “Is he rich or something?” When I admit that he is, their next question is, “So you guys probably don’t get along anymore, right?”

It’s a weird thing to assume, especially the “anymore” part. It’s as if the moment my brother’s bank account added a few extra zeros (okay, a lot of extra zeros), he morphed into Monty Burns from The Simpsons.

I can’t blame them. For most of my life, everything I believed about very rich people I learned from F. Scott Fitzgerald. “They are different from you and me,” he wrote in the 1925 short story “The Rich Boy.”

Despite not knowing any rich people personally, that seemed about right to me.

My family, on both my mother’s and father’s sides, has historically been middle class, usually on the lower end. We buy our cars used, find our clothes at outlet malls, and aren’t afraid of eating meat “priced for quick sale.”

I grew up with birthday parties at Burger King and the knowledge at eight that I’d be paying off college loans till I was 40. How could I disagree with Fitzgerald that rich people, with their lack of any discernible struggling, really did believe “deep in their hearts, that they are better than we are?”

The wealthy aren’t helping their own case. Tom Perkins complained to the Wall Street Journal about the “rising tide of hatred” against the super-rich, comparing his supposed oppression to the Kristallnacht.

If you consumed enough media as a child and ever saw your parents get stressed out by bills, you hated the rich out of instinct.

N. Gregory Mankiw, a former economic adviser to President George W. Bush, wrote a New York Times op-ed in which he suggested that chief executives deserve to be paid more than the rest of us because they take bigger risks.

But for me, the real influence was pop culture, which I grew up consuming ravenously. It was filled with reminders that the super-wealthy are unfailingly villains — Lex Luthor, Jabba the Hutt, the rich kids’ camp in Meatballs.

For every Richie Rich fantasy or pleasantly paternal Daddy Warbucks, there was a sneering J. R. Ewing or Smaug the Unassessably Wealthy, hoarding his stolen jewels and fending off hobbits. If you consumed enough media as a child and ever saw your parents get stressed out by bills, you hated the rich out of instinct.

Even science seems to agree that the rich are probably arrogant jerks. A study published in 2012 in the Proceedings of the National Academy of Sciences summed up our collective suspicions with its title alone: “Higher Social Class Predicts Increased Unethical Behavior.”

Mark wasn’t born rich. If he were, I would be rich, too.

My younger brother (two years my junior) got that way because he’s very good at making bad bets. He’s what some people have called a “doomsday investor.” He bets on market calamity, the financial disasters that nobody expects to happen. Every time you turn on the news and the stock market has taken another hit and the federal debt ceiling is on the verge of caving in, Mark just made another million.

He published a book about his investing philosophy, The Dao of Capital: Austrian Investing in a Distorted World, which I’m told is very good. I own a copy, and I’ve tried to read it several times. But given my limited grasp of all things financial, it might as well be written in Sumerian.

I asked him once what he does, and here’s how he explained it: “I exploit the distortions of our interventionist monetary policy as they manifest themselves in the financial markets. I do this specifically using very asymmetric payoffs of derivatives.”

Make sense? If it does, then you’re probably rich, too. I have no idea what any of that means. It might as well be the muted trombone “mwa mwa” of a Peanuts parent.

To continue reading, please go to the original article here:

https://humanparts.medium.com/the-moat-the-millions-and-the-50-timex-watch-c43f67bdce2d

Money: A Myth or A Conspiracy?

Money: A Myth or A Conspiracy?

By Ashish Subedi  Dec 18

 “It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning” — Henry Ford

 Chasing bunch of cash, that is where everything sums up to, right? But, is that where every thing should sum up to? It’s kinda both ‘Yes’ and ‘No’. But the bigger question is, what are those god like papers?

 What Are Real Assets?

Money? Well, that would be the current asset but everything grounds up to the actual physical properties. Lands, golds are the actual properties disguised as money.

 Long before we had money, we used to have lands, golds as an asset. But these assets were very much hard to exchange. So, a bunch of brilliant people came up with a term ‘Money’.

 For getting money, people had to reserve their actual property to the money lenders and this is how all it started.

History

It all started with Federal Reserve System. In early 19th century, a group of 6 brilliant and wealthy people had a meeting. One of them was Nelson Aldrich who led the meeting.

Other members were Henry Davidson, Frank Vanderlip, Benjamin Strong, Abe Andrews and Charles Norton. The meeting went for 9 days and they came up with Federal Reserve System and established a central bank in America.

 “Central banks are the organizations responsible for money generation”

So, was that all what it took to make money the god?

People then had an idea about the central bank and what it can do. So, civilians was against them. On the other hand, Congress was also contra to their actions.

But, these 6 people were very smart for their time and made a conspired contract with the Congress.

 Since, they had reach of many local banks, they published a fake and conspired news to the Civilians claiming that local banks were against Federal Reserve System.

Whereas, the local banks did what they asked. So, unknowingly people thought Federal Reserve System to be good.

So, this was all it took to have a complete monopoly in maintaining the economic status.

To continue reading, please go to the original article here:

https://medium.com/@subediashish35/money-a-myth-or-a-conspiracy-d1dfe468f73a

What Happened When I Unwittingly Married Into Money

What Happened When I Unwittingly Married Into Money

By Anonymous  From The Cut

 Living With Money explores the personal side of personal finance: how our bank balances do and don’t define who we are.

 I first realized my in-laws had money, real money, when they bought a second house — to store their boat. Fewer than two miles separate their homes, making this renovated boat house a tricky thing to explain to friends. I try not to bring it up. It raises too many questions.

Eighteen months into my marriage, my husband and I relocated to the Pacific Northwest. This move put us for the first time within driving distance of his parents, who had recently retired in a gorgeous beach house in a sleepy coastal hamlet.

​This move also marked the beginning of a new chapter: realizing my husband’s family is rich.

While I reap the benefits of my in-laws’ wealth and generosity, I often find myself feeling uncomfortable and guilty. It’s such a stark contrast to my immigrant family upbringing, when I was always keenly aware that I was the “poorest” of my friends.

I was raised in a middle-class family in an upper-class suburb of Houston. My mother, who emigrated from Hong Kong, never attended college. My father worked a blue-collar job for the postal service until he passed away when I was 19. We were exactly comfortable — and not in the way rich people say they are comfortable.

My in-laws have taken us on several luxury vacations. We’ve had fun touring castles in Scotland and exploring the jungles of Costa Rica. But these getaways bring emotional baggage, in equal parts sadness and guilt, because I could never take this kind of trip with my parents.

I couldn’t bear to tell my mom that my in-laws picked up the tab for vacation. Nobody loves free stuff more than my mother. (She once snagged a stash of complimentary tampons from the ladies room at a hotel even though she was a post-menopausal woman in her 60s.) Maybe she’d be ecstatic for me. But I certainly couldn’t risk making her feel bad.

To continue reading, please go to the original article here:

https://www.thecut.com/2018/11/married-into-money.html

News, Rumors and Opinions Friday Morning 10-18-19

KTFA:

Gem:  Remember family Frank has said he really don’t have anything else to tell us, he also said if nothing significant come out that he won’t do a u-tube

Don961:  Iraq loses membership of the Human Rights Council because of the recent protests .. in favor of a submerged state!

2019-10-18

14 new members of the UN Human Rights Council

New York UN General Assembly. Five countries - Indonesia, Iraq, Japan, the Marshall Islands and the Republic of Korea - are running as candidates for the Asia-Pacific region, competing for four seats: after the vote, Iraq failed to get the support it needed. Human rights despite the support of some permanent members of the Security Council for re-nomination

UNESCO also:

Iraq lost the right to vote at the UNESCO General Conference, which will be held next month at the headquarters of the Organization in Paris.  link

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Don961:  The first repercussions of restrictions on freedom of expression .. Iraq receives an international shock

2019-10-17

Iraq on Thursday lost its membership as a candidate for the Asia-Pacific region at the UN Human Rights Council.

"Five countries - Indonesia, Iraq, Japan, the Marshall Islands and the Republic of Korea - have advanced as candidates for the Asia-Pacific region, competing for four seats," the UN General Assembly said in a statement.

He added, "After the vote, Iraq failed to get the support it needs, although it was a member of the current session and was removed from the membership of the Human Rights Council despite the support of some permanent members of the Security Council to re-nominate."

MP Mohammed al-Karbouli, a member of the Iraqi Forces Union, said Thursday that Iraq's continued restriction on the freedom of public opinion has made it lose its membership in the UN Human Rights Council.   link

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Courtesy of Dinar Guru

Jeff  ...about a month ago they told us in the month of February they were going to implement financial controls and measures at the ports and borders to control the funding and financing of terrorism and money laundering.  The only reason you would implement those types of steps is most likely for a rate change...

TNT:

Harambe:  NewsDay Zimbabwe: New notes being printed (10/17/19)

NEW bank notes will be introduced into the market in a few months’ time to ease the current serious shortage of cash in the country, a Reserve Bank of Zimbabwe (RBZ) official has revealed.

RBZ deputy director for finance and markets, William Manimanzi, disclosed this yesterday when he appeared before the Budget and Finance Portfolio Committee on Monday together with Pfungwa Kunaka, the acting secretary in the Ministry of Finance to speak on the 2020 National Budget.

 He said the new notes were being printed outside the country, and would be the solution to the cash crisis in the country, which has resulted in people being short-changed and charged high premiums by money transfer agents.

Budget and Finance Parliamentary Portfolio Committee chairperson Felix Mhona had asked Kunaka and Manimanzi to explain how the 2020 National Budget would deal with the cash crisis in the country.

 Manimanzi told MPs that the issue of the new notes would be announced at the right time.

“There are currency reforms that have taken place over the past few months and we have been working on ways to try and ameliorate the current cash shortages, and what happened was that we had introduced bond notes as an export incentive that were going on a drip feed system,” he said.

“Those funds were allocated to banks, but unfortunately, the bond note has become a commodity and its circulation is now outside the banks. However, there is a programme that the Minister of Finance, Mthuli Ncube has already spoken about.

“I am not privy to the dates, but what is happening is that new notes will be available soon so that they meet the required cash demands. Obviously, these notes are going to be printed outside the country and this requires foreign exchange. That is all I can say at the moment — but maybe in a few months — I do not know exactly when, but those new notes will be available.” 

 In August, Ncube announced that the country would introduce new monetary notes before the end of the year to ease the cash shortages, but he did not say it would be a new currency.

He said the country would not introduce new monetary notes to replace the quasi currency bond notes, but would introduce replacement notes to address imbalances between cash in circulation and electronic money.

 Marondera East MP Patrick Chidhakwa (Zanu PF) then asked Manimanzi to explain the steps that the RBZ had taken to deal with EcoCash agents.

“For instance, where I come from in Nyakurwi, cash is still being sold at 50% premium to rural people and they end up paying $35 EcoCash transfers for transport, (for a journey which) which costs $25 because they do not have cash. As RBZ, you always say that you do not dispense money to money changers, but we always see crisp notes on the streets,” Chidhakwa said.

 Kambuzuma MP Willias Madzimure (MDC Alliance) also said the RBZ must explain to Parliament who exactly was behind the EcoCash premium cash distortion.

“Who is in control of EcoCash, and as RBZ, are you still controlling the monetary policy? For example, you pay teachers through RTGS (Real Time Gross Settlement dollars) and when they look for transport using electronic money, they are charged premiums,” Madzimure said. 

 “What it actually means is that a teacher who earns RTGS$1 000 actually earns RTGS$500 because they need to buy cash. Who are these people, because they have very fat bank accounts and they always have people sitting at different places with bags of cash and exchanging it on a 50% premium?”

He said it was only in Zimbabwe where bags of cash are found on the streets, while banks cannot dispense physical money.

 “Selling of cash is not happening in Malawi, Mozambique or Zambia, but it is happening in Zimbabwe. It means that the RBZ is not in control of the monetary policy,” Madzimure said.

Manimanzi said the RBZ only supplied bond notes to commercial banks, adding that the central bank’s Financial Intelligence Unit was investigating the issue of street money deals.

 “As RBZ, we deal with cash through the banking system, but we had sectors paid in cash like the cotton and tobacco farmers. Our Financial Intelligence Unit is now trying to look at those bond notes on the streets because if we issue them out, we can trace their serial numbers,” Manimanzi said.

“In terms of the 50% EcoCash premiums, we are aware of this development and that is why over the past few weeks we banned cash-outs, but it was later reversed. We have engaged EcoCash and Potraz [Postal and Telecommunications Regulatory Authority] and a number of merchants have lost their licences and their accounts were closed.”

 The RBZ official said Econet explained that the illegal transactions were happening outside their platforms.

“Where the transactions are done at proper EcoCash cash-out platforms, EcoCash is able to deal with that. The solution really is on the supply of cash and its availability,” he said.

“If cash is available, then this will be a thing of the past. As RBZ, we are now working with Potraz and Econet to deal with the issue. We still need EcoCash because it has helped the rural areas in terms of financial inclusion.”

 Economist John Robertson urged the central bank to ensure that there is no excessive money printing that will drive inflation.

“The central bank must keep its promises that there will be no excessive money in circulation. Banks have to buy cash from the central bank and the central bank must not put money in circulation that is not paid for by banks. The money must not be excessive as it will drive inflation,” he warned. 

 “There must limited production of notes, but enough for automated teller machines to start working again. If people start to have confidence in the banking system, there will be stability and they will bank their cash.”

Robertson said at the moment, people were not willing to put cash in banks because they do not know whether they will get it when they need it.

 “Another issue is there should be a balance between supply and demand. The exchange rate must be stable. If the exchange rate remains stagnant for a year, inflation will go down. The quantity of money in circulation must not distort currency value,” he said.

https://www.newsday.co.zw/2019/10/new-notes-being-printed/

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2/3 Of Americans Are Actively Preparing For Recession! It's How They're Doing It That's The Bad News

Silver Report Uncut:  Oct 18, 2019

First we look at the overnight funding markets. We see even though the fed has begun permanent open market operations (Not QE) there is still a desperation for liquidity. We also look at a recent poll from bankrate that revealed 2/3 of Americans are already actively preparing for a recession. The bad news the largest response was by cutting spending. This comes at a time when there are huge fund flow trend changes i.e. going to cash, and drops in the September retail spending data.

https://youtu.be/Mk0sQeiJLp4?t=2

The “Apple Theory” by JohnP

Thanks John For sending this to Recaps

From Dinar Recaps Archives

The “Apple Theory” by JohnP

I have a theory on the whole dinar "rate" discussion.  I call it the "Apple Theory".  In fact it could also be the "Gumball Theory" if you like as the implications are the same but I don't know if they're allowed to have gumballs in Iraq.

Anyway we'll stick with Apple Theory in the meantime, and maybe someone can research whether they're allowed gumballs.

Anyway, with all the discussion and conjecture about the rate, I think folks are missing the most important point, and that is what the LOWEST denomination that will be in circulation is - and how do you pay for an apple.

We heard about the "fils" a couple months ago and that made me VERY happy as they were supposed to be a fraction of a dinar.  And this is where the Apple Theory comes in.

You see, in the real world you have to be able to buy an apple - not a bushel, but a single apple.  This means that you can impute the planned exchange rate by looking at the lowest denomination that will be in circulation, and estimate what it will cost to buy an apple (or gumball, if they're allowed to have those).

I believe that if they move to parity with the dollar, then the lowest denomination in circulation should be about 1/10th of a dinar.  The smallest coin we use here in New Zealand is a 10 cent coin and everything is rounded up or down to ten cents.

If, on the other hand, they are going to RV at 3.86 (or whatever), them the lowest denomination in circulation should be about 1/30th of a dinar, because that's about what it takes to buy an apple.

To some degree the same theory can be applied by looking at the HIGHEST denomination that they will have in circulation.

For practical purposes the biggest note in circulation in the US is a $100 note.  The same is true here in NZ.  Therefore discussion about introducing a 50k note is probably not a good thing.

If we assume that a modern society needs a note worth about $100 in buying power for day to day transactions and convenience, then having a 50,000 dinar note should mean that they are looking at a rate of about double what it ts now, or about 1/500th of a dollar.

 If it is confirmed that they plan to introduce a 100k note then that should mean that they are not looking at raising the rate at all and the rate will remain about 1,000 dinar to a dollar.

There is a possibility that they will only use a 50k note for banking transactions but I doubt very much that they would make a big deal about that with the public as the public wouldn't have any need for a note that large if they RV at 3.86.

After all, all THEY care about is buying an apple!

This Secret Hiding In Your $1 Bills Could Make It Worth Thousands

This Secret Hiding In Your $1 Bills Could Make It Worth Thousands If You Look Closely

Everyone dreams about getting rich overnight, but this almost impossible. You need to be very lucky and win the Powerball or Lotto in order to do that. However, there’s another way to get super rich that might surprise you.

There are some dollar bills that are worth thousands of dollars and you might be carrying one in your pocket right now. You better stick around for #15 in order to find out if you own one of these special dollar bills.

25.  One Dollar

Today we are going to share with you some amazing information that might make you rich. Therefore, open your wallet and take out all the cash that you have because you will need to search for some special markers.

24.  Rare Bills

There are some one dollar bills that sell for as much as $2,500! Can you believe this? If you do have one of these special bills in your wallet, then you are going to make some easy money.

23.  Getting Rich Overnight

With that being said, get out a magnifier glass or the zoom camera on your smartphone because you will need to pay close attention to the serial numbers of your dollar bills. You might even end up selling the lucky bill for thousands of dollars!

22.  Collector Items

The reason why dollar bills with specific serial numbers are selling for so much is because they are seen as collector items. Who would even buy a dollar bill for so much money? You might have seen them in this famous show…

21.  The Famous Show

Everyone who has watched at least on episode of the famous Pawn Shop show knows that people are willing to pay top dollar for items that they want to add to their collection. We’ve seen many items selling for tens of thousands of dollars!

20.  Serial Numbers

Even though dollar bills might mean nothing more than this week’s groceries for your, some people are more than happy to pay you a fortune for them if they have the right serial number. Keep reading to find out why collectors are desperately searching for rare items.

19.  The Collectors

The reason why collectors are willing to pay so much money for a single dollar bill is because it will help them complete their collection. Check out the picture at #7 to see which are the rare serial numbers that can make you rich.

To continue reading, please go to the original article here:

https://www.obsev.com/g/secret-hiding-1-bills-make-worth-thousands-look-closely/699904?utm_source=yahoo&utm_campaign=TestYAH-AS-CT-Yuri-Mihai-DollarBills-US&utm_medium=HOMEPAGE_US&utm_term=prezna

Central Banks Expect Dollar to Reign Supreme for Another 25 Years

Central Banks Expect Dollar to Reign Supreme for Another 25 Years

Economics By Katherine Greifeld   October 16, 2019

 Dollar still the ‘ultimate safe-haven currency’: UBS report

 Chinese yuan expected to chip away at greenback’s share

Foreign-exchange reserve managers at central banks around the globe expect the dollar to remain dominant for at least another quarter-century.

Roughly 66% of managers believe the greenback will remain the reserve currency of choice over the next 25 years, according to a UBS Asset Management survey of 30 central banks. The U.S. currency accounts for about 62% of global central banks’ $11.7 trillion foreign-exchange reserves, the International Monetary Fund said last month.

The finding comes as questions emerge over the state of the so-called strong dollar policy and countries like Russia vocally diversify out of the greenback. Bank of England Governor Mark Carney railed against the dollar’s hegemony in August, bemoaning the currency’s “domineering influence” on trade. But still, the dollar is “the ultimate safe-haven currency,” according to UBS.

“The dominance of the U.S. dollar in global reserves -- an average share above 60% over the last 25 years -- has been a constant feature of FX reserve management,” UBS analysts Massimiliano Castelli and Philipp Salman wrote in a report released Wednesday. “This is particularly surprising because speculations about the imminent demise of the dollar have become a stable refrain over the past decades.”

The Chinese yuan is expected to chip away at the dollar’s share, however. UBS found that 38% of respondents see it becoming a reserve currency on the level of the dollar or the euro in the quarter-century to come. The euro accounted for just over 20% of reserves in the second quarter, according to IMF data.

To continue reading, please go to the original article here:

https://www.bloomberg.com/news/articles/2019-10-16/central-banks-expect-king-dollar-to-reign-for-another-25-years