Currency Insider Iraqi Dinar - Dong Updates Wednesday Afternoon 3-6-24
Currency Insider Iraqi Dinar - Dong Updates Wednesday Afternoon 3-6-24
Iraqi dinar trade bank of Iraq Bank Of Iraq big announcement – 1:53
Vietnam Dong latest rate today some positive news – 1:19
Currency Insider Iraqi Dinar - Dong Updates Wednesday Afternoon 3-6-24
Iraqi dinar trade bank of Iraq Bank Of Iraq big announcement – 1:53
Vietnam Dong latest rate today some positive news – 1:19
Iraqi dinar trade bank of Iraq Bank Of Iraq big announcement – 1:53
Vietnam Dong latest rate today some positive news – 1:19
Iraq Economic News and Points to Ponder Wednesday Afternoon 3-6-24
Iraq Economic News and Points to Ponder Wednesday Afternoon 3-6-24
Tlm724 Administrator Bondlady’s Corner
During 2023.. 7 Iraqi Banks Break The Barrier Of 1 Trillion Dinars In The Amount Of Their Deposits
Economy News – Baghdad Five Iraqi banks were able to exceed the barrier of one trillion dinars in the size of their deposits in 2023, while only two Iraqi banks were able to break the barrier of 2 trillion Iraqi dinars in the size of customer deposits with the two banks.
The economist, Manar Al-Obaidi, said, “The International Development Bank and the National Bank of Iraq were able to break the barrier of 2 trillion dinars in deposits in 2023.”
As for the five banks, they are the International Development Bank, the National Bank of Iraq, the Bank of Baghdad, the Iraqi Islamic Bank, and the Islamic South Bank, according to the economic expert.
He added, "The deposits of the five banks grew by 11.3% compared to the year 2022, bringing the total bank deposits to 9.25 trillion Iraqi dinars."
He pointed out, "Al-Janoob Islamic Bank achieved the highest percentage of growth in deposits at a rate of more than 147%, then the National Bank of Iraq, whose deposits grew in value by 90%."
Iraq Economic News and Points to Ponder Wednesday Afternoon 3-6-24
Tlm724 Administrator Bondlady’s Corner
During 2023.. 7 Iraqi Banks Break The Barrier Of 1 Trillion Dinars In The Amount Of Their Deposits
Economy News – Baghdad Five Iraqi banks were able to exceed the barrier of one trillion dinars in the size of their deposits in 2023, while only two Iraqi banks were able to break the barrier of 2 trillion Iraqi dinars in the size of customer deposits with the two banks.
The economist, Manar Al-Obaidi, said, “The International Development Bank and the National Bank of Iraq were able to break the barrier of 2 trillion dinars in deposits in 2023.”
As for the five banks, they are the International Development Bank, the National Bank of Iraq, the Bank of Baghdad, the Iraqi Islamic Bank, and the Islamic South Bank, according to the economic expert.
He added, "The deposits of the five banks grew by 11.3% compared to the year 2022, bringing the total bank deposits to 9.25 trillion Iraqi dinars."
He pointed out, "Al-Janoob Islamic Bank achieved the highest percentage of growth in deposits at a rate of more than 147%, then the National Bank of Iraq, whose deposits grew in value by 90%."
Al-Obaidi stressed, “This growth reflects an increase in public confidence in Iraqi private banks and the ability of private sector banks to acquire part of the monetary mass issued outside the banking system, as it is noted that the volume of deposits for the five banks in 2019 did not exceed the barrier of 1.8 trillion Iraqi dinars, reaching today.” To more than 9.25 trillion dinars.
He continued: "It is expected that the five Iraqi banks will continue their control of the local market and the ability to attract deposits, whether from outside the banking system or from public sector deposits, as a result of the increased confidence in these banks and their spread in various governorates, in addition to the increase in the great competition between these banks in order to acquire the largest... Amount of deposit.
He pointed out, "The increase in the volume of deposits in the private banking sector will contribute to strengthening the wheel of economic growth by directing these banks to invest deposit funds in beneficial economic projects through which they can achieve profits to cover the interest paid on these deposits."
Al-Obaidi stated, “The total value of deposits in the private and public banking sector amounted to more than 133 trillion dinars at the end of 2023, and these five banks were able to acquire 7% of the total of these deposits, and the largest value of the deposits is still present in government banks.”
Views 163 03/06/2024 - https://economy-news.net/content.php?id=41174
Iraq Is Ranked 30th Globally...The Largest Arab And International Country With Reserves Of Resonant Yellow
Wednesday 06, March 2024 11:59 | Economical Number of readings: 396 Baghdad / NINA / The United States topped the world in gold reserves, and Saudi Arabia ranked first in the Arab world, according to data from the World Gold Council.
According to the council’s report, the United States’ gold reserves amounted to 8,133.5 tons, followed by Germany with 3,352.6 tons, then Italy with 2,451.8 tons.
In the Arab world, Saudi Arabia topped the Arab countries in terms of yellow resonant reserves, which amounted to 323.1 tons, and gold represented only 4.7% of the Kingdom’s total foreign reserves.
Lebanon came in second place with reserves estimated at about 286 tons, and gold represented 56.8% of Lebanon’s total foreign reserves, while Iraq came fourth in the Arab world and 30th globally./End 9
Sales Of The Central Bank Of Iraq Exceed 210 Million Dollars
Wednesday 06, March 2024 12:06 | Economical Number of readings: 382 Baghdad / NINA / Sales of the Central Bank of Iraq at the currency auction decreased today, Wednesday, to reach 210 million dollars.
The Central Bank said in a statement that it sold today during its auction for buying and selling the US dollar 210 million 932 thousand and 703 dollars, which the bank covered at a base exchange rate of 1,305 dinars, per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for foreign transfers, and at a price of 1,310 dinars. For every dollar in cash.
He explained that most of the bank’s dollar sales went to strengthening balances abroad in the form of (transfers, credits), which amounted to 201 million 932 thousand and 703 dollars, higher than the cash sales amounting to 9 million dollars.
He pointed out that the banks that bought The number of cash dollars reached 5 banks, while the number of banks that responded to requests to enhance balances abroad reached 17 banks, while the total number of exchange and brokerage companies participating in the auction was 81 companies. https://ninanews.com/Website/News/Details?key=1111518
After Al-Rasheed And Al-Rafidain...The Iraqi Bank Announces The Cessation Of Deducting Installments
Economy 03/06/2024 Mawazine News – Baghdad The Trade Bank of Iraq announced today, Wednesday, the suspension of deducting loan installments for all employee borrowers for one month only.
The bank’s media expert, Aqeel Al-Shuwaili, said in a statement received by Mawazine News: “In implementation of the directives of Prime Minister Muhammad Shiaa Al-Sudani to stop deducting loan installments for all employees on the occasion of the holy month of Ramadan, we announce the suspension of deducting loan installments for all employee borrowers for one month only.”
He continued, "This came on the occasion of the advent of the holy month," noting that "the loans will be repaid after the end of the blessed month of Ramadan."
https://www.mawazin.net/Details.aspx?jimare=243331
Al-Sudani: The Period Is Ideal For Establishing A Strategic Economic And Political Relationship With Saudi Arabia
Political | 03/06/2024 Mawazine News - Baghdad. Prime Minister Muhammad Shiaa Al-Sudani described the current period as ideal for developing relations with the Gulf states, Saudi Arabia and Turkey, indicating that relations between Iraq and Saudi Arabia are important for the stability of the region.
Al-Sudani said in an interview followed by Mawazine News: “The Arabs returned to Iraq after the 25th Gulf and turned us open to receive the Gulf.”
He added, "The period is ideal for establishing a strategic economic and political relationship with Saudi Arabia, and that Saudi Crown Prince Mohammed bin Salman is sincere and clear in his support for Iraq and its people."
He pointed out that "my visit to Turkey changed the course of relations between the two countries, and they are continuing to develop to remove any crisis between Baghdad and Ankara."
https://www.mawazin.net/Details.aspx?jimare=243348
Oil Prices Rose Due To Fears Of Scarcity Of Supplies In Global Markets
Economy | 03/06/2024 Mawazine News – Baghdad Oil prices rose slightly in early Asian trading on Wednesday, as markets balanced concerns about demand growth in China, the world's largest crude importer, with indications of tight supplies in light of production cuts by major producers.
Prices also received support from the decline in the US dollar, which boosted demand for buyers paying in other currencies.
Price action
Brent crude futures rose 8 cents to $82.12 a barrel by 0333 GMT. US West Texas Intermediate crude futures increased 12 cents to $78.27 per barrel. https://www.mawazin.net/Details.aspx?jimare=243316
To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/
Provoking Points to Ponder on Decisions
Decisions, particularly important ones, have always made me sleepy, perhaps because I know that I will have to make them by instinct, and thinking things out is only what other people tell me I should do. - Lillian Hellman
Statistics are no substitute for judgement. - Henry Clay
It is the heart always that sees before the head can see. - Thomas Carlyle
Facts are stubborn things, but statistics are more pliable. - Laurence J. Peter
A true history of human events would show that a far larger proportion of our acts are the result of sudden impulse and accident than of that reason of which we so much boast. - Peter Cooper
http://famousquotesandauthors.com/quotes_by_topic.html
http://famousquotesandauthors.com/topics/decisions_quotes.html
Goldilocks' Comments and Global Economic News Wednesday Evening 3-6-24
Goldilocks' Comments and Global Economic News Wednesday Evening 3-6-24
Good evening Dinar Recaps,
Today, the Global Markets Advisory Committee Meeting subcommittee of the CFTC is meeting to make 3 recommendations for the markets going forward:
* The first-ever digital asset taxonomy. It is designed to promote regulatory clarity and international alignment.
* Basel 3 end game proposal.
* Transition to T+1 securities settlement and Treasury ETFs.
The role of this committee is to take a look at the legislative process and make recommendations for a bill to move it forward in Congress. Although committees only have the authority to advise, their recommendations go a long way in determining the contents of what goes on a legislative bill.
These three proposals are already in process. This committee is designed to focus attention on the details of what has already been introduced to Congress. These recommendations will provide more clarity for Congress to understand and work with current legislative bills already on the table.
The Financial Stability Board will be present at this meeting along with other prominent Global Financial Advisors. A vote will be taken today to move these legislative bills forward. CFTC
© Goldilocks
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Goldilocks' Comments and Global Economic News Wednesday Evening 3-6-24
Good evening Dinar Recaps,
Today, the Global Markets Advisory Committee Meeting subcommittee of the CFTC is meeting to make 3 recommendations for the markets going forward:
* The first-ever digital asset taxonomy. It is designed to promote regulatory clarity and international alignment.
* Basel 3 end game proposal.
* Transition to T+1 securities settlement and Treasury ETFs.
The role of this committee is to take a look at the legislative process and make recommendations for a bill to move it forward in Congress. Although committees only have the authority to advise, their recommendations go a long way in determining the contents of what goes on a legislative bill.
These three proposals are already in process. This committee is designed to focus attention on the details of what has already been introduced to Congress. These recommendations will provide more clarity for Congress to understand and work with current legislative bills already on the table.
The Financial Stability Board will be present at this meeting along with other prominent Global Financial Advisors. A vote will be taken today to move these legislative bills forward. CFTC
© Goldilocks
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Take a look at the top listing on Citibank bank rate inside Iraq. It is important to note that the US dollar conversion rate still remains the same, but it is listed as a currency that can be exchanged with the dinar.
Scroll all the way to the far right of the dinar listing at Citibank, and you will find that one US dollar still buys 1,300 dinar.
You might want to save this page to look at currency rates inside Iraq along with cbi.iq. Credit Bank of Iraq
© Goldilocks
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Gold prices hit a record high. There’s a gold rush on Wall Street | CNN Business
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In simple terms, a unit of account is defined as a standard unit of measurement of market/economic value for an asset, goods, services, and other transactions. https://3commas.io/blog/unit-of-account
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Our Global Economy is in process of redefining and recalculating currency values. Specifically, we are undergoing pilot programs to determine regulations on the use and the amount needed to level the playing field in trade among countries.
These are measured in units of account in the banking world. Each unit of account currently has a digital value and a commodity value inside what we are currently calling a tokenized asset going forward.
These new pending prices are what many are calling a Global Currency Reset. This is why new laws have been coming into effect on our new digital economy the last two and almost a half years to solidify real values going forward.
Real values are necessary for the new Quantum Financial System to calculate with precision and speeds we have never seen before in history, and not, artificial values controlled and determined by a single country.
This is the year to determine these new values going forward that will affect our Global Economy for generations to come. Finance Magnates
© Goldilocks
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The Stellar Development Foundation (SDF) recently submitted a letter in response to a Request for Information on Financial Inclusion (RFI) issued by the U.S. Department of the Treasury (Treasury).
This response blends our work on financial access with our continued efforts to advocate for open systems. By combining these two focus areas, SDF aims to inform Treasury’s development of a national strategy for financial inclusion from a technological perspective – emphasizing that tools to further financial access and inclusion can benefit from open-source and transparent technology.
In our response, we address two key points: the importance of access when defining financial inclusion and how to leverage technology to advance financial inclusion efforts.
SDF defines access as a core tenet for the advancement of financial inclusion. Access to formal financial systems, such as bank accounts, is crucial for individuals, households, and small businesses to participate in the increasingly digital economy and unlock advanced services like savings and lending.
We propose that consumers should have access to free or low-cost products that support everyday financial transactions in today’s cashless economy. Services that leverage digital wallets and blockchain technology can address traditional barriers like minimum account balances and account fees that preclude participation in the formal economy.
As a public and freely accessible blockchain, the Stellar network provides a rich environment and set of technical tools for such everyday financial services. Stellar
👆 The Stellar Development Foundation is a Committee member of the Global Markets Advisory Committee Meeting subcommittee.
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A China-Russia geopolitical alignment was long the Kremlin’s dream
The war in Ukraine has brought the two autocratic powers much closer
The axis is emerging just as the West is preoccupied with domestic issues GIS Reports Online
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The United Arab Emirates demonstrated its commitment to financial sector innovation last week when it undertook the first cross-border transfer of its central bank digital currency (CBDC), the digital dirham.
On January 29, the chairman of the UAE Central Bank sent 50 million digital dirhams - the equivalent of approximately $13 million - from the UAE to China over mBridge, a platform that allows countries and financial institutions to experiment with using CBDCs for cross-border wholesale payments.
The transfer forms part of the UAE’s efforts on developing a CBDC that can drive the the country’s digital transformation, and is the first in a series of pilot programs the UAE intends to run with CBDCs, with future projects to focus on establishing CBDC bridges with India, and a proof of concept for a CBDCs use in domestic retail and wholesale payments. Jointly these efforts comprise part of the UAE’s CBDC Strategy, which the Central Bank announced in March 2023. Elliptic
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Fast payments have achieved mass adoption in some jurisdictions but not in others – with adoption likely depending on the design characteristics of different fast payment systems (FPS).
Adoption of fast payments tends to be more widespread when the central bank owns the FPS, when non-banks participate and when the number of use cases and cross-border connections is greater.
These insights can help inform the design and development of FPS and other payment infrastructures.
YouTube
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Digital Ruble Announcement:
At a meeting of the Association of Banks of Russia, both the central bank governor and deputy governor gave an update on the digital ruble. Trials for the central bank digital currency (CBDC) started in August last year after the passage of legislation. It started with a dozen banks, 600 end users and 30 merchants across 11 cities. The plan is to begin to roll out the CBDC next year.Ledger Insights
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Nikki Haley gives speech addressing her future in 2024 presidential race – watch live
👆 This speech will give you insight into what is about to happen the rest of this year. It is a short speech. Please listen carefully.
She talks about the transition of our economy in October, Term limits for politicians, a smaller Government, and more...
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Take a look at the top listing on Citibank bank rate inside Iraq. It is important to note that the US dollar conversion rate still remains the same, but it is listed as a currency that can be exchanged with the dinar.
Scroll all the way to the far right of the dinar listing at Citibank, and you will find that one US dollar still buys 1,300 dinar. Credit Bank of Iraq
© Goldilocks
👆 You might want to save this page to look at currency rates inside Iraq along with CBI.iq.
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What have we learned the last few days about the Iraqi Dinar?
Yes, a rate has been on the back screen for years, but it is not tradable until it goes to the front screen for you and me.
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In simple terms, a unit of account is defined as a standard unit of measurement of market/economic value for an asset, goods, services, and other transactions.
https://3commas.io/blog/unit-of-account
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In the future, you will hold "units of account" for the currencies you hold or one single currency. Each of these units of account (currency) will be instilled with values that come from a digital asset.
Are you beginning to see how power will be given back to the people? You will literally be holding a real asset in your hand(s) going forward. You will own gold, and gold belongs to the people.
All roads lead to gold, and gold will set us free.
© Goldilocks
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UK regulations will allow stablecoins and CBDCs to coexist, says former BoE fintech lead
United Kingdom policymakers are adopting a coordinated approach to establish regulations allowing cryptocurrencies, stablecoins and CBDCs to coexist. CoinTelegraph
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Thank you Dinar Recaps
Bruce’s Big Call Dinar Intel Tuesday Night 3-5-24
Bruce’s Big Call Dinar Intel Tuesday Night 3-5-24
Transcribed By WiserNow Emailed To Recaps
Welcome, everybody the big call tonight. It is Tuesday, March 5th and you're listening to the big call. Thanks for tuning in everybody all around the globe. And one of your hosts is kind of getting it together. And the rest are ready to go. So, without further ado, welcome - thank you for tuning into the big call. We're looking forward to starting the call like we do every call by opening up with prayer. And then we go to a teaching which Sue has created for us, which will be great for us all. And then we take off and go on to other topics on the call
All right. Anything else Bob last minute. Okay, Bob, thank you so much. Okay, we're right on time, guys. Moving right on through. Let me tell you where we stand on our intel. We got some cool information today. And let me tell you what it is.
Well, let me just say this there was a mini sting operation last Wednesday, Thursday and Friday.
And I say that because bankers were told on a conference call last Wednesday that there were not to be any early exchanges. No early exchanges for certain all these banks. And I think some tried to jump the line.
Bruce’s Big Call Dinar Intel Tuesday Night 3-5-24
Transcribed By WiserNow Emailed To Recaps
Welcome, everybody the big call tonight. It is Tuesday, March 5th and you're listening to the big call. Thanks for tuning in everybody all around the globe. And one of your hosts is kind of getting it together. And the rest are ready to go. So, without further ado, welcome - thank you for tuning into the big call. We're looking forward to starting the call like we do every call by opening up with prayer. And then we go to a teaching which Sue has created for us, which will be great for us all. And then we take off and go on to other topics on the call
All right. Anything else Bob last minute. Okay, Bob, thank you so much. Okay, we're right on time, guys. Moving right on through. Let me tell you where we stand on our intel. We got some cool information today. And let me tell you what it is.
Well, let me just say this there was a mini sting operation last Wednesday, Thursday and Friday.
And I say that because bankers were told on a conference call last Wednesday that there were not to be any early exchanges. No early exchanges for certain all these banks. And I think some tried to jump the line.
And they were caught for doing that and they cleaned up. Basically, some of the banks that needed to be cleaned up at redemption centers and banks, and they took care of that.
Then they moved on to Okay, where do we stand now? As far as our start,
We got some information yesterday, well, actually, day before yesterday, which would have been what, Monday – no check that - Sunday, that we were looking to get the numbers to come out and get a green light from the Treasury. Either in an email this morning between 10 and 11 - Yesterday rather, yesterday, or between 10 and 11 today (Tuesday)
Well, we didn't get green light yesterday. So we kind of wrote that off As far as a start date. And then today, We didn't see an email between 10 and 11 - and we're talking about to the redemption centers. Let me clarify that - redemption centers were looking to get that - And so what they ended up with was we did get an email, and about 20 to 3 (2:40) Eastern time this afternoon.
And that was indicating that we were within 24 hours within 24 hours of being notified and getting green light from Treasury to trigger our notifications and set our appointments. When we think they'll come tomorrow. We should set our appointments. if it's early enough if we get the 800 numbers early enough in the day we quite possibly could exchange tomorrow afternoon, evening.
If we get the notification later in the day, we could set appointments and begin an exchanges on Thursday.
So either way it's a win, but we're looking very, very good for this going tomorrow. That's the information that I'm getting from and we had it confirmed from two separate unrelated redemption centers at the same information
Now - I feel really good about where we stand right now with that. We know that the dinar and the other currencies have been coming in on the forex and trading upward in the bank screens reflect that.
They reflect the fact that the currencies are trading up and still blinking - on the screen, which means they're not set. They're not stable, but they're continually moving upward in value. And they're blinking.
So what I think is people say well, why isn't ready to go They said it's already They say we're good to go. What are we waiting on? I think they're just waiting for the currencies to hit the values that they want them to hit before we get started. And it would appear that they are moving in that direction .
So you know, you're going to be rewarded for your patience you'll be rewarded for using the redemption centers to redeem your Zim and exchange your currencies. And I believe that if the information holds true, we should get our notifications tomorrow. So I'm excited about that.
And, you know, all I can say is that we waited a long time for this to manifest and hopefully we won't be disappointed it will be rewarded for our patience tomorrow. So I'm excited about where we are, where we're going with this. And I really think that we're in really good shape right now.
Now let's see what else I can say about this. Now, I know I probably had some other things I wanted to mention - but realistically, this is the main thing that we're all interested in- is going
When it comes to R&R - restitution and reclamation allowance - That is supposed to kick in about a week after the USN – USTN is released - and the latest dates we had on that were supposed to be between the 14th and 15th of March. That’s not to far away and also understand that that is supposed to occur when the redemption centers are about to close - or are closing - well for them to close they need to be open.
They need to be open not only exchanging our currencies but also redeeming our Zim – they are most concerned about the redemption of our zim in the redemption centers although we will do both. Obviously all currencies will be exchanged and all bonds will be exchanged, if you will or redeemed will be redeemed and our zim will be redeemed. But they will move very quickly to set up appointments for all zim holders.
Now there's one other piece that I think I should bring up about that I was just reminded of and that is if you let's say the numbers were to come out tomorrow, and you set your appointment within four or five days of the numbers coming out then you would be able to exchange up to 20 t0 25 days later access things later.
In other words, if people are in the hospital and need time to get healed and come out if they happen to be on a cruise, or on something where they're just not able to come in – they’re out of the country, whatever it is not able to come in this week, let's say - but if they are able to set her appointments, they could set their appointments for a day 20 or 25 days into the future.
All right, so that's new today. I just got that today.
Most important thing though, is to with your toll free number, go ahead call the call center and be connected to if you're Zim holder to the redemption center in your zip code that you indicate when you make your call. And basically you should be talking with someone redemption center that will quite possibly be helping you do your exchange in your Zim redemption, Whenever that appointment is set. So I know that redemption people are ready. We're ready.
Banks are ready in the sense that they're going to be doing currencies and not doing zin – at least not here in the US. Wells Fargo is the lead bank HSBC is the secondary bank because they're handling everything globally. And then Chase would be in 3rd position.
And why is Chase in number one position right now? Because of the 11 banks that they have in Iraq. And because of the fact they'll have 15 banks in Iraq by the end of this week.
So that's pretty cool they’re in position, but obviously Wells with the Zim will supersede them into the number one position and HSBC will take the number two position because of all the international exchanges that they will do and they will do them internationally.
And I believe Banco Santander Santander in Latin America will also be able to do zim in Central and South America and possibly Mexico as well. But I know that HSBC is also a large international bank that will be handling everything in their locations.
So – I’ll say this Med Beds are just around the corner – they’re not far – we will let them know if we need a Med Bed or in dire need of it -
We will let them know if we get better we are in dire need at the moment the redemption center when we make or when we go in for our for our appointment, and then they'll be able to get that information entered on the computer and we will be looking good. We're going in fairly shortly after our appointments maybe a week or so we should be able to start going into those appointments after we exchange. So that's what I wanted to say with you guys tonight.
It could be that we get our notifications around lunchtime tomorrow - Around noon little after. we'll see what happens that’s kinda what is anticipated based on emails, - maybe the emails come in to the redemption centers tomorrow between 10 & 11 We should be in good shape to get notified around lunchtime. Alright, and we'll take it from there. And let's just look forward to this.
I'm ready for it as all of you are. And let's just look forward to a real beautiful thing happening here for us.This is going to be an incredible blessing. Alright, so I'm not going to go in anything else right now, let’s just move it, and let's just go ahead and pray to call out,
Bruce’s Big Call Dinar Intel Tuesday Night 3-5-24 REPLAY LINK Intel Begins 1:04:40
Bruce’s Big Call Dinar Intel Thursday Night 2-22-24 REPLAY LINK Intel Begins 1:07:37
Bruce’s Big Call Dinar Intel Tuesday Night 2-27-24 REPLAY LINK Intel Begins 1:21:31
Bruce’s Big Call Dinar Intel Thursday Night 2-22-24 REPLAY LINK Intel Begins 1:05:45
Bruce’s Big Call Dinar Intel Tuesday Night 2-13-24 REPLAY LINK Intel Begins 1:02:30
Bruce’s Big Call Dinar Intel Thursday Night 2-15-24 REPLAY LINK Intel Begins 1:29:29
Bruce’s Big Call Dinar Intel Tuesday Night 2-13-24 REPLAY LINK Intel Begins 1:05:25
Bruce’s Big Call Dinar Intel Thursday Night 2-8-24 REPLAY LINK Intel Begins 1:10:00
Bruce’s Big Call Dinar Intel Tuesday Night 2-6-24 REPLAY LINK Intel Begins 1:03:30
Bruce’s Big Call Dinar Intel Thursday Night 1-25-24 REPLAY LINK Intel Begins 1:04:40
Bruce’s Big Call Dinar Intel Tuesday Night 1-30-24 REPLAY LINK Intel Begins 1:07:37
BRICS to develop blockchain-based payment system to aid in de-dollarization
BRICS to develop blockchain-based payment system to aid in de-dollarization
By Jordan Finneseth Published: Mar 05, 2024 – 12:32 PM
The rising strength of the BRICS group is emerging as a serious threat to the established world order – with countries like Saudi Arabia joining the alliance in a blow to the standing of the petrodollar – and now the group is exploring the creation of their own currency using blockchain technology.
According to a report from Russian news agency TAAS, BRICS is working to create an independent payment system based on digital currencies and blockchain, a plan that Kremlin aide Yury Ushakov called a “Contingent Reserve Arrangement.”
“We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain,” Ushakov said.
BRICS to develop blockchain-based payment system to aid in de-dollarization
By Jordan Finneseth Published: Mar 05, 2024 – 12:32 PM
The rising strength of the BRICS group is emerging as a serious threat to the established world order – with countries like Saudi Arabia joining the alliance in a blow to the standing of the petrodollar – and now the group is exploring the creation of their own currency using blockchain technology.
According to a report from Russian news agency TAAS, BRICS is working to create an independent payment system based on digital currencies and blockchain, a plan that Kremlin aide Yury Ushakov called a “Contingent Reserve Arrangement.”
“We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain,” Ushakov said.
“The main thing is to make sure it is convenient for governments, common people, and businesses, as well as cost-effective and free of politics.”
Ushakov said the primary goal of the work being done in 2024 is to increase the role of BRICS in the international monetary and financial system. This includes a move away from a reliance on the U.S. dollar in settlements and is part of a larger de-dollarization movement taking hold around the globe.
He noted that in the 2023 Johannesburg Declaration, the leaders determined that BRICS countries needed to increase settlements in national currencies and strengthen their correspondent banking networks to secure international transactions.
“Work will continue to develop the Contingent Reserve Arrangement, primarily regarding the use of currencies different from the US dollar,” Ushakov said.
On Feb. 28, TASS reported that Russia’s Finance Ministry, the Bank of Russia, and several BRICS partners were working to create the BRICS Bridge multisided payment platform as part of their efforts to improve the global monetary system.
“By the end of the year, the Russian Finance Ministry and the Bank of Russia together with partners within the [BRICS] association will draft a report for the leaders of the BRICS countries on improving the international monetary and financial system, which will contain a set of initiatives and recommendations,” the Finance Ministry said. “Developmental work based on the report will result in a number of practical initiatives, with the BRICS Bridge platform potentially becoming one of them.”
“The issue is about creating a multisided digital payment platform,” they added. “It will help bring the financial markets of the BRICS member states closer and increase mutual trade turnover.”
“The gradual integration of the new BRICS member states into the work of the financial tracks and strengthening of cooperation at the expert level was noted as being one of the crucial tasks for 2024,” the ministry said.
Source: Kitco
"Tidbits From TNT" Wednesday 3-6-2024
TNT:
Tishwash: During 2023.. 7 Iraqi banks break the barrier of 1 trillion dinars in the amount of their deposits
Five Iraqi banks were able to exceed the barrier of one trillion dinars in the size of their deposits in 2023, while only two Iraqi banks were able to break the barrier of 2 trillion Iraqi dinars in the size of customer deposits with the two banks.
The economist, Manar Al-Obaidi, said, “The International Development Bank and the National Bank of Iraq were able to break the barrier of 2 trillion dinars in deposits in 2023.”
As for the five banks, they are the International Development Bank, the National Bank of Iraq, the Bank of Baghdad, the Iraqi Islamic Bank, and the Islamic South Bank, according to the economic expert.
Headded, "The deposits of the five banks grew by 11.3% compared to theyear 2022, bringing the total bank deposits to 9.25 trillion Iraqidinars."
TNT:
Tishwash: During 2023.. 7 Iraqi banks break the barrier of 1 trillion dinars in the amount of their deposits
Five Iraqi banks were able to exceed the barrier of one trillion dinars in the size of their deposits in 2023, while only two Iraqi banks were able to break the barrier of 2 trillion Iraqi dinars in the size of customer deposits with the two banks.
The economist, Manar Al-Obaidi, said, “The International Development Bank and the National Bank of Iraq were able to break the barrier of 2 trillion dinars in deposits in 2023.”
As for the five banks, they are the International Development Bank, the National Bank of Iraq, the Bank of Baghdad, the Iraqi Islamic Bank, and the Islamic South Bank, according to the economic expert.
Headded, "The deposits of the five banks grew by 11.3% compared to theyear 2022, bringing the total bank deposits to 9.25 trillion Iraqi dinars."
He pointed out, "Al-Janoob Islamic Bank achieved the highest percentage of growth in deposits at a rate of more than 147%, then the National Bank of Iraq, whose deposits grew in value by 90%."
Al-Obaidi stressed, “This growth reflects an increase in public confidence in Iraqi private banks and the ability of private sector banks to acquire part of the monetary mass issued outside the banking system, as it is noted that the volume of deposits for the five banks in 2019 did not exceed the barrier of 1.8 trillion Iraqi dinars, reaching today.” To more than 9.25 trillion dinars.
He continued: "It is expected that the five Iraqi banks will continue their control of the local market and the ability to attract deposits, whether from outside the banking system or from public sector deposits, as a result of the increased confidence in these banks and their spread in various governorates, in addition to the increase in the great competition between these banks in order to acquire the largest... Amount of deposit.
He pointed out, "The increase in the volume of deposits in the private banking sector will contribute to strengthening the wheel of economic growth by directing these banks to invest deposit funds in beneficial economic projects through which they can achieve profits to cover the interest paid on these deposits."
Al-Obaidi stated, “The total value of deposits in the private and public banking sector amounted to more than 133 trillion dinars at the end of 2023, and these five banks were able to acquire 7% of the total of these deposits, and the largest value of the deposits is still present in government banks link
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Tishwash: Governmental weevils” are a direct threat to the state: extreme wealth exposes advocates of reform
As the voices of some politicians and elites rose on the issue of reforms and directed harsh criticism at state institutions regarding the provision of services to poor citizens in order to live a decent life, they soon began to decline again, during a period in which the citizen was still suffering from the repercussions of the depletion of the country’s wealth and the chaos of laws and procedures amidst a state of extreme poverty and poor health conditions. Services, where popular voices rise to combat what some call “government weevils.”
Hope portal
Abdullah Al-Tamimi, a retired government employee, pointed out in an interview with “Baghdad Al-Youm” that “Prime Minister Muhammad Shia’ Al-Sudani’s steps in managing the state are good and have given a glimmer of hope that we will finally have a government that is aware of its duties and is not hostage to the adventures and agenda of parties and quotas.”
He added, “The crisis of the dollar, housing, water, and unemployment is the real danger in Iraq currently, and the government has put in place plans that, if implemented, will create a gateway of hope to get out of the impasse, but there are parties that do not want the matter to proceed and a strong government to be formed in Baghdad, so it is pushing to create any crises and obstruct the state’s laws, especially in Economic file.
Whales of corruption... who are they?
As for the independent politician Sadiq Ali, he believes that “some reform advocates are basically practicing a hidden role in blackmailing state institutions, and the evidence is their obscene wealth and their silence after they have achieved a specific trend after every period,” pointing out that “the application of the Where did you get this law? is what gives sufficient answers to the question.” Knowing the good from the bad.”
Ali added in an interview exclusively with “Baghdad Today” that “there are representatives accused of corruption and have cases against them who criticize the Sudanese government, and this matter raises many question marks,” wondering what is the reason for the wealth of some of them, they and their relatives? ".
He continues by saying, "Corruption is an octopus in state institutions and the Sudanese government cannot proceed with any reforms without real blows to the whales of corruption, some of whom are protected by political immunity that recognizes that they are corrupt, but at the same time they are banks that finance campaigns during election seasons."
The body of the state is dilapidated
For his part, the head of the Diyala Chambers of Commerce, Muhammad Al-Tamimi, admitted in an interview with “Baghdad Al-Youm” that “Iraq’s main problem is the penetration of the whales of corruption into all its institutions, which is more like a mite that has been eating away at the body of the state for many years, but it has become stronger in light of the marriage of money and politics.”
He added, "Corruption is much more dangerous than terrorism and is a direct cause of the suffering of 40 million Iraqis because any government measure for correction faces obstacles within government institutions because the arms of corruption are large."
He concluded by saying: How can any government employee have huge wealth and not be asked about its source?
Unannounced investigations
Earlier, a parliamentary source revealed the existence of unannounced investigations into the wealth of nine Iraqi officials in several governorates.
The source said in an interview with "Baghdad Today", "A lot of evidence was presented by representatives and figures about the file of the extreme wealth of some officials in Baghdad and the provinces, amid questions about the source of that money, especially since they are government employees."
The source, who preferred not to reveal his name, added, “Indeed, there are investigations currently underway into the file of 9 officials,” pointing out that “extreme wealth is a source of real concern that has prompted regulatory authorities to open important files in the past months in order to clarify the sources of that money, which some have tried to do.” It involves purchasing real estate and land.
He pointed out that "2024 will witness a qualitative shift in the fight against corruption, especially in the suspicious wealth of some," expecting "important decisions to be issued in the coming weeks." link
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CandyKisses: The "black dollar" is protected by influential political parties that obstruct economic reforms
Baghdad today - Baghdad
Economic expert Ahmed Al-Tamimi confirmed today, Wednesday (March 6, 2024), that the dollar crisis in Iraq is behind corruption mafias, with political protection from some influential people and entities that are trying to obstruct economic reforms.
Al-Tamimi told "Baghdad Today", "The politically protected corruption mafias were the primary beneficiaries of the dollar crisis and they worked to exacerbate this crisis for their own interests and gains. They are also currently working to obstruct any government reforms in the financial and economic sector."
He added, "These mafias have political protection from some influential people and parties, and these parties work politically to create problems so that any government efforts that want reform fail. This is why we see that the dollar crisis is still continuing and ongoing despite all government steps. The parallel market is still witnessing a significant increase." at the official price.
Exchange rates have not stabilized for nearly two years, despite many measures taken by the government to try to control it, all of which failed, due to the existence of political "protection" for the black dollar, according to observers.
A member of the Parliamentary Finance Committee, Mudar Al-Karawi, confirmed on Tuesday (March 5, 2024) that the government has achieved good success in containing Iraq's most dangerous economic files, represented in depreciating the value of the dollar prices and limiting its rise again.
Al-Karawi told Baghdad Today that "the dollar in the parallel markets has been a source of wealth for some for years and a drain on the country's resources in various ways, especially with smuggling in a way that threatens Baghdad's economy and pushes the dinar to frequent collapse, which puts pressure on the markets and plunges the country into the maze of sanctions."
He added, "The government's measures have achieved a glimmer of hope in confronting and the most dangerous economic files by reducing the value of the dollar and stopping its rise, even if in limited proportions, but it gave strength to the dinar and dealt with a good percentage of the smuggling file and seeking to end the dollarization of the file in the markets and move to electronic payment."
Al-Karawi pointed out that "all government measures face obstacles and in different ways because the dollar was and is still the resource of the deep state and some corrupt people and those who lived on crises in increasing their wealth in different ways," pointing out that "strengthening the strength of the dinar and filling smuggling gaps will hit the interests of many at home and abroad, and thus many parties will move to sabotage the joy of citizens in the presence of correct economic paths that contribute to saving the economy and pushing it to recover after lean years."
"The government's measures are moving in the right direction despite the side pressures, but they give stimulus to achieve economic growth and ensure that the file of smuggling, corruption and the depletion of hard currency are addressed in various ways," he said.
Last Sunday (March 3, 2024), Prime Minister Mohamed Shia al-Sudani stressed that depreciating the exchange rate means giving the dollar to "illegal" trade.
Al-Sudani said during his participation in the opening of the activities of the Rafidain Forum for Dialogue in Baghdad, that "the financial situation in Iraq is at its best and the collection of commercial transactions is through commercial institutions."
"We give the student, the patient, the trader, the contractor and the investor the dollar at the official rate," he said, pointing out that "the notes recorded on Iraqi banks from the US Treasury are at the time of previous governments." "
He pointed out that "economic reform was one of the most important priorities of the government program," noting that "the salaries of employees and retirees constitute the largest monetary mass in the fiscal budget."
It is noteworthy that Iraq relies on the platform of selling currency directly to local banks and companies, which was previously known as the daily dollar auction, as one of the mechanisms to preserve the value of the Iraqi dinar, and to fight speculation in the parallel. market.
The Governor of the Central Bank of Iraq Ali Al-Alaq on February 6 that "some groups are trying to stay away from the platform for selling foreign currency to evade tax or customs or the existence of illegal trade," pointing to "the possibility of meeting all requests for the dollar," adding that "the bank has no problem in the supply or sale of dollars."
"The bank is in a comfortable position to respond to requests to buy dollars, and we have sufficient reserves and soon we will launch a mechanism that ensures that only the real traveler receives the dollar," he said.
Mot: and Yet another Awesome Govt Study - only Costing $22.5 million or so
Mot: . Ooooooh Noooooooooo!!!
Coffee with MarkZ and Andy Schectman. 03/06/2024
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Coffee with MarkZ and Andy Schectman. 03/06/2024
Member: GM MarkZ & Mods & Family
Member: Anticipation fatigue is real…..and I have it bad
Member: Any thing positive going on? Markets a hot mess.
Member: Is the chatter still good that we may see something today or tomorrow?
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Coffee with MarkZ and Andy Schectman. 03/06/2024
Member: GM MarkZ & Mods & Family
Member: Anticipation fatigue is real…..and I have it bad
Member: Any thing positive going on? Markets a hot mess.
Member: Is the chatter still good that we may see something today or tomorrow?
MZ: I feel confident we are extremely close…Maybe today or tomorrow….I’ll take either…..or whenever we get it. I am afraid to let myself get to excited.
MZ: MilitiaMan had a great recap on the dinar last night. Around the 14 minute mark he mentions that JP Morgan (Jaime Dimon) made a statement that “Iraq will be the savior of the world economy” I. That tells you the importance of what is going on in Iraq right now. Be sure to go listen to MM and like and share his videos.
MZ: There is a tremendous amount of effort and hope around this event.
Member: I asked my bank in Hawaii if they were basil 3 compliant and I got a call back that they are not required to be compliance. bigger Banks like Chase and other International Banks have to meet it
Member: Does Mr. C entering the codes have anything to do with the RV??
Menber: He is one of the signatories that bring in the gold backed currency for the US…..
Member: I'm hearing when the Market drops 3 more times...It will trigger the crash and everything will follow.. Yesterday it dropped really Low...
Member: Mark did you hear anything about the rumor that the banks in the Federal reserve is not going to give out any more money after March 11th?
MZ: It means the Federal Reserve ends their short term loans they put in place when some banks were going under. (Signature Bank, SVC Bank ecct..) So the safty net for smaller banks ends on March 11. .
Member: Yes. Doesn’t it mean the treasury loans or bailout to banks end on March 11th?
Member: I wonder when the US dollar is revalued, will the value of gold be correspondingly be lowered in value?
Member: I wonder what are the chances NO IRS TAXES due April 15th?
Member: If there are any white hats….One would think they do not want us to pay billions in taxes that go straight to the bad guys cabal to re-hypothicate the evil ones……So if you are listening White hats……get this done before we have to pay those taxes in a month.
Member: What is “double dipping”
MZ: If you exchange some currency …then go buy a bunch more to exchange….that is double dipping.
Member: That’s why it makes sense to it all at the same time….and let us exchange once.
Member: this roller coaster should be coming to an end soon!!
Member: March 6th, 2024: God is saying to you today,"You are going to receive that miracle You've been praying for. Only I can do the impossible, I can make a way where there seems to be no way.
Member: Thank you Mark Z! You’re the calming voice of sanity in this insane world.
Member: Happy Birthday to all celebrating today. God bless you all.
Andy Shehctman from Miles Franklin joins the stream today…Please listen to the replay for his opinions and information.
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Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.
Zig’s Place Chatroom Discussion Late Tuesday Evening 3-5-24
Zig’s Place Chatroom Discussion Late Tuesday Evening 3-5-24
Sheila THOUGHT THIS MIGHT BE OF INTEREST FOR YOU TO CHECK OUT AND VERIFY: VIDEO: FOREXLIVE.COM -- ForexGirl comes into video about 1 hour into video --- WATCH THE ENTIRE CONVERSATION WITH ForexGirl and Frank26 -- https://www.youtube.com/live/L69tLJTL0ZU?si=0KK0_P9uTOxijeZ6 --- https://www.forexlive.com/LiveCharts USD/IQD CURRENTLY TRADING @ 2.80 - MARCH 5, 2023
Sheila gotta get off to work, later all
Zig Trading at $2.80?...that makes no sense but I will investigate further.. Nothing to corroborate that
butterfly Zig It would be all over the news. CNBC would stop and report.
Zig Yeah
Dave 2.80.....CBI fails to mention that?
Dave do enjoy reading about a lop....... :wheelbarrel: that would be how monetary policy werks.....,.lol just checked EU sanction map....IRAQ...UN's updates from yesterday https://sanctionsmap.eu/#/main
Zig’s Place Chatroom Discussion Late Tuesday Evening 3-5-24
Sheila THOUGHT THIS MIGHT BE OF INTEREST FOR YOU TO CHECK OUT AND VERIFY: VIDEO: FOREXLIVE.COM -- ForexGirl comes into video about 1 hour into video --- WATCH THE ENTIRE CONVERSATION WITH ForexGirl and Frank26 -- https://www.youtube.com/live/L69tLJTL0ZU?si=0KK0_P9uTOxijeZ6 --- https://www.forexlive.com/LiveCharts USD/IQD CURRENTLY TRADING @ 2.80 - MARCH 5, 2023
Sheila gotta get off to work, later all
Zig Trading at $2.80?...that makes no sense but I will investigate further.. Nothing to corroborate that
butterfly Zig It would be all over the news. CNBC would stop and report.
Zig Yeah
Dave 2.80.....CBI fails to mention that?
Dave do enjoy reading about a lop....... :wheelbarrel: that would be how monetary policy werks.....,.lol just checked EU sanction map....IRAQ...UN's updates from yesterday https://sanctionsmap.eu/#/main
Zig Dave : I miss your little chats with Kap....lol
Dave deleting 3 zeros with no increase in value of the IQD when 1 iqd is worth less than 1 tenth of a cent...each 1 dollar note costs 5 cents to mint..would be economic suicide fer CBI
Dave them fils cost even more to produce - do agree with most everything else Kap states odd how Baghdad states them Kurds are corrupt and yet Kurds state much of the same.....similiar to them dems vs reps......
Zig lol....true
Dave just find me a nickle....i be happy
Zig Make that 25 cents....lol....not greedy but that's not asking for a fortune....
Dave 1/15th of a cent to a Nickle.....very good profit
NORV sheila nonsense
Zig NORV : It is amazing that Frank has thousands of followers of his videos
Zig Look at this: FRANK26….3-4-24…….FOREXLIVE.COM
24K views Streamed 17 hours ago............................................24,000 views!!!!!!!! :Thud:
NORV You can go to that link or any other and enter IQDUSD and you will the dinar valued where it should be.
Zig That rumor about the Dinar trading at $2.80 on Forex.....LOL That sucks people in
NORV I can post the dinar is $3 and everyone would post it as well. Doesn't mean it's true. Cbi.iq
NORV people need to realize the dinar will never RV. If it does anything at all, it will rise gradually over time as a result of Iraq's economic growth and success. And that can't happen until Iraq passes laws and significant investment and growth begins
NORV IMO, is it's very likely that it could reach a nickel or a dime over the next few years if Iraq quits dragging their feet. People need to stop reading that BS though from idiots like Frank 26 and others. What's Dave going to say when Iraq goes fully digital? There'll be no wheelbarrows needed LOL
Zig: NORV is Kaperoni ...You can still access some of his recent conference calls at https://www.youtube.com/ @TheAdminBob and also follow him at https://twitter.com/kaperoni
Dave NORV we have more atms in my small city than all of Iraq - digital.....here too, i like cash........ what nation is devoid of all cash?
NORV ATMs are not that important in Iraq they only need to have ATMs if you want physical cash. They are going digital..that mean paperless. Swipe 💳 and go.
Dave we swipe here also
NORV Yup I can't remember the last time I carried dollars. 💰
Dave POS exclusively? i deal in cash
NORV Nah, I do almost everything digital. Buy food, clothes, gas on my phone. GOOGLE pay works great. 👍
Dave folks sometimes pay me in cash.....means i dont have to answer to my wife
NORV The best part is you get better deals buying digital
Dave doubt it 1/2 of iraqis have bank accounts
NORV I get .35 cents gal off on gas 😆
Dave barter with a pos?
NORV Restaurants love digital purchase. Give great food discounts
Zig That's point of sale....not piece of shit.....lol.....POS
Dave not here
NORV It's everywhere Dave
NORV .the apps are the same. You just don't know about it.
Dave wife pays when we go out
Zig I like cash too but it's becoming old fashioned.....lol
NORV Go to the App Store and download an app for whatever you're going to do or restaurant or store and you will notice that every one of them apps have discounts when you pay through their mobile app
Dave will inform the MRS.
NORV I just went to Arby's the other day and got a French dip for $3. LOL everyone else pays $8
Zig Wow
NORV McDonald's has a whole bunch of discounts when you use their mobile app two for one sandwiches, two for one shakes, free fries Etc
Dave MacDonalds aint food?
NORV I just bought baseball tickets the other day for $7 a piece through MLB app. Lol. No chance of that price using paper ......HOW?
NORV It takes time Dave
Dave What nation has done this
NORV 50% in last year is good
Dave guessing not sure Dave was about 1/3rd
NORV Give them another 2 years, everyone in Iraq will be digital
Dave too many mattress stuffers 2 yrs? guessing?
NORV Once convenience catches on people will convert just like here. Everybody got a smartphone in the matter of about 12 months
Dave Iraq has accomplished NODDA in terms of anything
NORV That's not true. They just do everything at a very slow pace
Dave Banking laws fer foreign investments? HCL art 140? WTO? close....lol
NORV Just because they are not laws enacted does not mean they are doing nothing.
Dave yadda yadda
NORV When your rebuilding an entire country from the ground up and you've got tribes that don't want progress, of course it's going to take a long time
Dave NORV Just checked UNs website IRAQ still be ch7 really slow updating that banking freeze updated yesterday
NORV . I wouldn't know. I haven't been to the UN website in quite a while. Or do you mean IMF?
Dave https://sanctionsmap.eu/#/main scroll down to Iraq Which nation affiliated with IMF while under sanctions?
NORV NORV don't see anything on UN chapter 7 In fact what I do see is no restrictions And their financial system is under the IMF and I don't see any restrictions there either except for them still being in Article 14 by choice which is not a restriction.
NORV It's a decision Iraq's Central Bank has made which does affect their ability to do business with other financial institutions but that technically is not a restriction
Dave https://www.un.org/securitycouncil/sanctions/information
NORV From the general info page it shows Iraq (2) meaning they must have two outstanding issues still.
Dave arms embargo asset freeze on banking
NORV There may very well be arms embargo and there may be assets frozen of individuals within Iraq but there is no restrictions on their banks except for the possibilty of doing business with Iran. IMF Article 14 is their own choice and has nothing to do with UN chapter 7
NORV If there were investors that wanted to move money into Iraq there would be no problem I can assure you that. The problem is is that they need laws To support Investment otherwise nobody's coming to the party.
NORV And as long as Iraq continues to struggle to move forward the dinar will remain weak. I've been saying for many years only with the success and growth of Iraq's own economy can the dinar ever go up in value.
NORV I gotta go. See ya.
Dave By paragraph 19, the Council decided that the Committee shall identify individuals and entities referred to in paragraph 23, by which the Council decided that funds or other financial assets or economic resources of the previous Government of Iraq or its state bodies, corporations, or agencies, located outside Iraq as of the date of the resolution, or funds or other financial assets or economic resources that have been removed from Iraq, or acquired, by Saddam Hussein or other senior officials of the former Iraqi regime and their immediate family members, including entities owned or controlled, directly or indirectly, by them or by persons acting on their behalf or at their direction, shall freeze, without delay, those funds or other financial assets or economic resources.
butterfly IMF: Iraq Economic Growth "to Continue amid Fiscal Expansion" An International Monetary Fund (IMF) mission met with the Iraqi authorities in Amman during February 20-29 to conduct the 2024 Article IV consultation.
Some key data from their report:
1. Economic Growth:
Non-oil GDP growth: 6% in 2023.
Overall growth projected to rebound in 2024.
2. Inflation:
Declined from 7.5% in January 2023 to 4% by year-end.
3. Fiscal Position:
Deficit: 1.3% of GDP in 2023, down from a surplus of 10.8% in 2022.
Projected deficit for 2024: 7.6% of GDP.
Public debt: Expected to nearly double from 44% in 2023 to 86% by 2029.
4. Policy Priorities:
Need for fiscal adjustment to stabilize debt and rebuild buffers.
Focus on reducing current expenditure, increasing non-oil revenues, and improving revenue administration.
5. Monetary Policy:
CBI raised policy interest rates and reserve requirements.
Efforts to reduce excess liquidity and improve monetary policy pass-through.
6. Structural Reforms:
Comprehensive employment strategy needed.
Financial sector reform to improve credit access.
Urgent pension reform required.
Combat corruption and improve governance.
Hurdles to private sector development need to be removed, including in the electricity sector and business registration procedures.
7. IMF Support: The IMF staff team stands ready to support reform efforts.
Full statement from IMF:
butterfly An International Monetary Fund (IMF) mission, led by Mr. Jean-Guillaume Poulain, met with the Iraqi authorities in Amman during February 20-29 to conduct the 2024 Article IV consultation. The following statement was issued at the end of the mission:
Economic growth is projected to continue amid fiscal expansion. Meanwhile, medium-term vulnerabilities to oil price volatility have increased significantly. Reducing oil dependence and ensuring fiscal sustainability while protecting critical social and investment spending will require a significant fiscal adjustment, focused on controlling the public wage bill and increasing non-oil tax revenues.
In parallel, higher economic growth will be needed to absorb the rapidly expanding labor force, boost non-oil exports and broaden the tax base. The authorities should therefore seek to enable private sector development, including through labor market reforms, modernization of the financial sector and restructuring of state-owned banks, pension and electricity sector reforms, and continued efforts to improve governance and reduce corruption.
Economic Outlook and Risks
butterfly Growth in the non-oil sector has rebounded strongly in 2023 while inflation receded. Supported by increases in public expenditure and solid agricultural output, real non-oil GDP is estimated to have grown by 6 percent in 2023 after stalling in 2022.
Headline inflation declined from a high of 7.5 percent in January 2023 to 4 percent by year-end, reflecting lower international food and energy prices, and the impact of the February 2023 currency revaluation. The current account is expected to have recorded a surplus of 2.6 percent of GDP and international reserves increased to US$ 112 billion.
These positive developments were supported by the normalization of trade finance and the stabilization of FX market. After some initial disruptions following the introduction of new anti-money laundering and combating financing of terrorism (AML/CFT) controls on cross-border payments in November 2022, the improved compliance with the new system and the Central Bank of Iraq (CBI)'s initiatives to cut processing time led to a recovery in trade finance in the second half of 2023. This ensured private sector access to foreign exchange at the official rate for imports and travel purposes.
In the meantime, the fiscal position worsened. Although the expansionary budget was under-executed due to delayed Parliamentary approval, the fiscal balance still declined from a surplus of 10.8 percent of GDP in 2022 to a deficit of 1.3 percent in 2023, due to lower oil revenues and an increase in expenditures by 8 percentage points of GDP, of which salaries and pensions contributed 5 percentage points as the authorities started hiring in line with the budget law.
butterfly Overall growth is projected to rebound in 2024 and risks are tilted downwards amid heightened uncertainty. Non-oil growth momentum will continue in 2024. Larger declines in oil prices or extended OPEC+ cuts could weigh on fiscal and external accounts.
If regional tensions escalate, a disruption of shipping routes or damage to the oil infrastructure could result in oil production losses that could outweigh the potential positive impact of higher oil prices. In case of a deterioration in domestic security conditions, this could lead to a decline in business sentiment and suspension of investment projects. Over the medium term, non-oil growth is projected to stabilize around 2.5 percent given existing hurdles to private sector development.
Furthermore, vulnerability to oil price declines has increased as higher expenditures are projected to push the fiscal break-even oil price above $90 in 2024. Absent new policy measures, the fiscal deficit is expected to reach 7.6 percent in 2024 and widen further thereafter as oil prices are projected to gradually decline over the medium term. As a consequence, public debt would almost double from 44 percent in 2023 to 86 percent by 2029.
Butterfly Policy Priorities
An ambitious fiscal adjustment would be required to help stabilize debt in the medium term and rebuild fiscal buffers, while protecting critical capital spending. Most of the fiscal adjustment would have to come from reducing current expenditure, especially controlling the wage bill by limiting mandatory hiring and gradually introducing an attrition rule.
The authorities should also seek to increase non-oil revenues by broadening the personal income tax base and making it more progressive, reviewing the customs tariff structure, and considering new taxes on luxury items. In parallel, efforts to make revenue and customs administration more efficient should continue. Further savings could be obtained through better targeting social support and increasing cost recovery within the electricity sector. These adjustment measures should provide room for the expansion of the targeted social safety net.
The authorities should also strengthen public financial management and limit fiscal risks. The mission welcomes initial steps towards the establishment of a Treasury Single Account (TSA), which is crucial to improve cash management. Further progress is needed and close cooperation between the CBI and Ministry of Finance will be essential.
The next steps are to define TSA design options and complete the bank account census. In future years, overall ceilings on the issuance of guarantees should be specified in the budget law and be enforced. The mission advise against the use of extrabudgetary funds and highlights potential fiscal risks associated with their use.
As a second best, it would be important to ensure the Iraq Fund for Development has appropriate governance arrangements, including governing board independence while ensuring transparency of the Fund's activities including by publishing its investment plans in the annual budget documentation and restricting its ability to borrow.
butterfly The mission encourages the authorities to build on the CBI welcomed efforts to reduce excess liquidity. The CBI appropriately raised the policy interest rate and reserve requirements, introduced a 14-day CBI bill facility last summer, and scaled back its subsidized lending to the real estate sector.
However, monetary policy pass-through has been muted, hampered by large excess liquidity and lack of market incentives in financial intermediaries, especially at state-owned banks. The CBI's ongoing efforts should be supported by consolidating idle government deposits in a TSA, refraining from procyclical fiscal policy, reducing the reliance on monetary finance, and improving public debt management.
In parallel, efforts to develop an interbank market with the help of IMF technical assistance should continue. The mission also welcomes the authorities' steps to speed up the digitalization of the economy, reduce the reliance on cash and enhance financial inclusion.
Wide-ranging structural reforms are needed to foster private sector development and economic diversification. Iraq needs higher and more sustainable non-oil growth to absorb the rapidly growing labor force, increase non-oil exports and government revenue, and reduce the economy's vulnerability to oil price shocks.
Key reform priorities include:
Adopting a comprehensive employment strategy aimed at phasing-out mandatory hiring in the public sector, leveling the playing field between public and private jobs, addressing mismatches between educational curricula and the skills needed in the private sector, and strengthening labor market institutions. The strategy should also aim at reducing informality and addressing legal, social, and cultural impediments to women's participation in the workforce.
butterfly Accelerating financial sector reform to improve access to credit. The authorities are committed to modernizing the banking sector and supporting banks' ability to secure correspondent banking relationships and have taken steps towards consolidation of small private banks.
Efforts to restructure the two largest state-owned banks should intensify, including by expediting certification of past financial statements and implementation of core banking systems, and enhancing corporate governance in line with best practices.
Implementing a comprehensive pension reform. This is urgently needed to reduce the overall projected fiscal costs of the public pension scheme, better align the benefits and rules across the public and private schemes, ensure adequacy of pensions and intergenerational equity, and increase the ratio of workers participating in the private pension scheme.
Combating corruption and improving governance, particularly by strengthening the institutional and legal frameworks needed to ensure the independence of the Integrity Commission and the Board of Supreme Audit, enhancing the publication of assets and conflicts of interests declarations for top level officials, and adopting an updated anticorruption strategy.
Further, public procurement and business regulations should also be enhanced. The authorities should also continue to strengthen the AML/CFT framework and its effectiveness, including in the banking sector, guided by the priority actions identified in the MENAFATF Mutual Evaluation that will be concluded in May 2024.
Removing other hurdles to private sector development by reforming the electricity sector to improve efficiency, cost recovery, and reliable access; simplifying procedures for business registration; and upgrading critical infrastructure.
The IMF staff team stands ready to support the authorities in their reform efforts and would like to thank them for constructive and productive discussions during this mission. (Source: IMF)
Sheila @TWW You were blessed. Rumor has it there about 7M dinar/foreign currency holders here in USA. Other rumtel says 10M worldwide.
Sheila TWW lower numbers than rumtel... various holdings from one 25K dinar note up to what might be considered whale - like they have "pallet"
TWW sheila we'll have to wait to see how that works out, hummm
Sheila TWW yes we will. Heard tonight on CC that we should record our Zim serial numbers. Why only Zim, is what I want to know? They didn't give basis for that tidbit. - from Holly
Sheila @TWW two hours later here,,, gotta sleep now
Zig :Hi: Readers....This Chat Room is now a gated community https://my.cbox.ws/ZIGPLACE
:Security: where an invitation is now required in order to participate
Iraqi Dinar Today Video Updates Wednesday AM 3-6-24
Iraqi Dinar Today Video Updates Wednesday AM 3-6-24
IMF And CBI Agreement IQD RV And New Exchange Rate Done – 4:52
Its Great Update New Exchange Rate $5 to $6 USD For Every IQD – 2:52
This is Massive News IQD Beat $3.81 on Trading Screens – 3:35
Iraqi Dinar Today Video Updates Wednesday AM 3-6-24
IMF And CBI Agreement IQD RV And New Exchange Rate Done – 4:52
Its Great Update New Exchange Rate $5 to $6 USD For Every IQD – 2:52
This is Massive News IQD Beat $3.81 on Trading Screens – 3:35
IMF And CBI Agreement IQD RV And New Exchange Rate Done – 4:52
Its Great Update New Exchange Rate $5 to $6 USD For Every IQD – 2:52
This is Massive News IQD Beat $3.81 on Trading Screens – 3:35
Iraqi News Highlights and Points to Ponder Wednesday AM 3-6-24
Iraqi News Highlights and Points to Ponder Wednesday AM 3-6-24
Comment From Parliament On The Dollar Exchange Rate: Do Not Listen To The Losers
Economy |Baghdad today - Baghdad Today, Wednesday (March 6, 2024), the Parliamentary Finance Committee confirmed that the dollar is controlled by the relevant government agencies, calling for not taking into account the rumors of losing and corrupt parties.
Committee member Moin Al-Kazemi told “Baghdad Today” that “there are some politically losing parties and personalities who have major suspicions of corruption, working to continue spreading rumors that the government is not in control of the dollar market and the Iraqi dinar is declining, for the purpose of political influence as well as influencing the market".
Al-Kadhimi added, "The government is currently in complete control of the dollar in all its transactions, and there is real and serious work to strengthen the Iraqi dinar," stressing that "everyone is required not to take into account the rumors of losing and corrupt parties, as they do not want economic stability, to achieve their suspicious agendas."
Iraqi News Highlights and Points to Ponder Wednesday AM 3-6-24
Comment From Parliament On The Dollar Exchange Rate: Do Not Listen To The Losers
Economy |Baghdad today - Baghdad Today, Wednesday (March 6, 2024), the Parliamentary Finance Committee confirmed that the dollar is controlled by the relevant government agencies, calling for not taking into account the rumors of losing and corrupt parties.
Committee member Moin Al-Kazemi told “Baghdad Today” that “there are some politically losing parties and personalities who have major suspicions of corruption, working to continue spreading rumors that the government is not in control of the dollar market and the Iraqi dinar is declining, for the purpose of political influence as well as influencing the market".
Al-Kadhimi added, "The government is currently in complete control of the dollar in all its transactions, and there is real and serious work to strengthen the Iraqi dinar," stressing that "everyone is required not to take into account the rumors of losing and corrupt parties, as they do not want economic stability, to achieve their suspicious agendas."
The expert in economic affairs, Ahmed Al-Tamimi, confirmed earlier today, Wednesday, that the dollar crisis in Iraq is behind corruption mafias, with political protection from some influential people and parties that are trying to obstruct economic reforms.
Al-Tamimi told "Baghdad Today", "The politically protected corruption mafias were the primary beneficiaries of the dollar crisis and they worked to exacerbate this crisis for their interests and gains, and they are currently working to obstruct any government reforms in the financial and economic sector."
He added, "These mafias have political protection from some influential people and parties, and these parties work politically to create problems so that any government efforts that want reform fail. This is why we see that the dollar crisis is still continuing and ongoing despite all government steps. The parallel market is still witnessing a significant increase." at the official price.
Exchange rates have not stabilized for nearly two years, despite many measures taken by the government in an attempt to control it, all of which failed, due to the existence of political “protection” of the black dollar, according to observers. LINK
Trade: We Are Close To Joining The World Trade Organization
Economical 03/06/2024 Baghdad: Al-Sabah Undersecretary of the Minister of Commerce, Sattar Al-Jabri, said yesterday, Tuesday, that the issue of Iraq’s accession to the World Trade Organization is imminent, while he affirmed the current federal government’s efforts to achieve self-sufficiency and not depend on the importer.
Al-Jabri said that the governmental curriculum developed by the Iraqi government is based on a strategy to keep pace with the development taking place in the global economy, as the government signed bilateral international memorandums of understanding in the field of trade and economics. He stressed that "Iraq is seeking to enter the World Trade Organization and the issue is coming soon."
The Iraqi government official spoke about the issue of import and export, saying: There is no trade balance between exported and imported materials, as the monetary mass was going to other countries, and this is what the government is seeking to address. current by relying on self-sufficiency.
At the beginning of 2024, the Kingdom of Saudi Arabia announced its support for Iraq’s accession to the World Trade Organization, especially after the political obstacles that prevented it were removed. https://alsabaah.iq/92979-.html
The “Black Dollar” Is Protected By Influential Political Parties That Obstruct Economic Reforms
Politics |Baghdad today – Baghdad Economic expert Ahmed Al-Tamimi confirmed today, Wednesday (March 6, 2024), that the dollar crisis in Iraq is behind corruption mafias, with political protection from some influential people and entities that are trying to obstruct economic reforms.
Al-Tamimi told "Baghdad Today", "The politically protected corruption mafias were the primary beneficiaries of the dollar crisis and they worked to exacerbate this crisis for their own interests and gains. They are also currently working to obstruct any government reforms in the financial and economic sector."
He added, "These mafias have political protection from some influential people and parties, and these parties work politically to create problems so that any government efforts that want reform fail. This is why we see that the dollar crisis is still continuing and ongoing despite all government steps. The parallel market is still witnessing a significant increase." at the official price.
Exchange rates have not stabilized for nearly two years, despite many measures taken by the government in an attempt to control it, all of which failed, due to the existence of political “protection” for the black dollar, according to observers.
Member of the Parliamentary Finance Committee, Mudar Al-Karawi, confirmed on Tuesday (March 5, 2024) that the government has achieved good success in containing the most dangerous Iraqi economic files represented by reducing the value of dollar prices and limiting its rise again.
Al-Karawi explained to “Baghdad Today” that “the dollar in the parallel markets has for years been a source of wealth for some and a depletion of the country’s resources in various ways, especially with smuggling in a way that threatens Baghdad’s economy and pushes the dinar to collapse repeatedly, which puts pressure on the markets and pushes the country into the maze of sanctions.”
He added, "The government's measures have achieved a glimmer of hope in confronting and containing the most dangerous economic files by reducing the value of the dollar and stopping its rise, even by limited rates, but they have given strength to the dinar and dealt with a good percentage of the smuggling file and seeking to end the dollarization file in the markets and move to electronic payment."
Al-Karawi pointed out, “All the government’s measures face obstacles in different ways because the dollar was and still is the supplier to the deep state and some corrupt people and those who have lived off crises to increase their wealth in various ways,” pointing out that “strengthening the strength of the dinar and closing the smuggling loopholes will harm the interests of many at home and abroad, and thus parties will move.”
"There is a lot to sabotage citizens' joy in the existence of correct economic paths that contribute to saving the economy and pushing it to recovery after lean years."
He continued, "Government measures are moving in the right direction despite the side pressures, but they provide incentives to achieve economic growth and ensure the development of solutions to the issue of smuggling, corruption, and the depletion of hard currency in various ways."
Last Sunday (March 3, 2024), Prime Minister Muhammad Shiaa Al-Sudani confirmed that lowering the exchange rate means giving the dollar to “illegitimate” trade.
Al-Sudani said during his participation in the opening of the activities of the Al-Rafidain Dialogue Forum in Baghdad, “The financial situation in Iraq is at its best and commercial transactions are collected through commercial institutions.”
He added, "We give the student, the patient, the merchant, the contractor, and the investor the dollar at the official rate," pointing out that "the notes recorded on Iraqi banks from the US Treasury are from the time of previous governments."
He pointed out that "economic reform was one of the most important priorities of the government program," noting that "the salaries of employees and retirees constitute the largest cash block in the financial budget."
It is noteworthy that Iraq relies on the platform for selling currency directly to local banks and companies, which was previously known as the daily dollar auction, as one of the mechanisms for preserving the value of the Iraqi dinar and combating speculative operations in the parallel market.
The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed on February 6 that “some groups are trying to stay away from the platform for selling foreign currency to evade taxes or customs or the presence of illegal trade,” indicating “the possibility of meeting all requests for the dollar,” adding that “the bank has no problem.” In offering or selling the dollar.
He pointed out that "the bank is in a comfortable position to respond to requests to buy dollars. We have sufficient reserves, and soon we will launch a mechanism to ensure that only real travelers get the dollar." LINK
Sudanese Reforms Are In “Danger”.. Al-Fatah Alliance Warns Of “Parties” Seeking To “Topple” Them
Politics |Baghdad today – politics The leader of the Al-Fatah Alliance, Ali Al-Zubaidi, warned today, Wednesday (March 6, 2024), that some parties are seeking to “undermine” the government’s reform steps for political purposes.
Al-Zubaidi said, in an interview with “Baghdad Today”, that “it is no secret to anyone that there are media outlets directed by political parties and external parties, and they always work on political blackmail by targeting all the government’s successes and trying to undermine any reform steps for political purposes.” And personality.”
He explained, "The successes of Sudanese and his government, especially in the file of services and the economy, will push those parties and figures who are losing politically and even popularly to escalate the attack during the next stage in order to spread and implement certain agendas, which may also have external motives."
The Parliamentary Services Bloc had previously called for supporting the efforts of the Sudanese government and providing the appropriate ground for legislation and parliamentary decisions that would contribute to the success of the government’s work and keep it away from all conflicts and political disputes.
The Parliamentary Services and Reconstruction Committee confirmed on Sunday (February 18, 2024) that the current Iraqi government is working to achieve achievements in more than one path and has achieved real and realistic achievements during the past months.
Committee member Madiha Al-Moussawi told “Baghdad Today” that “the Sudanese government has a great interest in achieving reforms and development in the economic, banking and financial sectors,” indicating that “the government has made real achievements in this file during the past months of controlling the dollar exchange rate and electronic dealings.” Cash allowance and many more.
Al-Moussawi added, “The government is very interested in implementing important and strategic projects related to the reality of services and urban development, in addition to providing opportunities for the unemployed by activating the private sector and strengthening investments,
in addition to creating job opportunities through government employment through deletion and creation through budgets,” stressing that “this matter Many graduates touched him, especially those with advanced degrees and top honors.”
Al-Mousawi concluded: “Government work is ongoing and continuous in various paths to achieve achievements according to what is planned in the government curriculum.”
On Thursday (February 15, 2024), Prime Minister Muhammad Shiaa Al-Sudani reviewed the government’s economic and development vision to Dutch businessmen and companies, indicating that Iraq imports goods worth 70 billion dollars annually, and from the Netherlands alone, 500 million dollars annually.
Since taking office in October 2022, Iraqi Prime Minister Muhammad Shiaa Al-Sudani has achieved a record number of policy achievements.
The “Services Government”, which he heads, has completed a set of projects, including the construction of roads, highways and hospitals, the signing of multibillion-dollar agreements to ensure independence in the field of energy, and the completion of an agreement with Tehran to trade gas for oil so that Iraqis can withstand the extreme heat in the summer when temperatures reach... The temperature reaches 50 degrees Celsius, and work with the government to approve the federal budget for three years. LINK
Provoking Points to Ponder on Decisions
Faith ... acts promptly and boldly on the occasion, on slender evidence. - John Henry Cardinal Newman
A decision is an action you must take when you have information so incomplete that the answer does not suggest itself. - Arthur Radford
She knew in her heart that to be without optimism, that core of reasonless hope in the spirit, rather than the brain, was a fatal flaw, the seed of death. - Anne Perry
When faith is supported by facts or by logic it ceases to be faith. - Edith Hamilton
How far would Moses have gone if he had taken a poll in Egypt? - Harry S. Truman
Better to be without logic than without feeling. - Charlotte Bronte
The will to be totally rational is the will to be made out of glass and steel: and to use others as if they were glass and steel. - Marge Piercy
http://famousquotesandauthors.com/quotes_by_topic.html
http://famousquotesandauthors.com/topics/decisions_quotes.html
Currency Insider Iraqi Dinar - Dong Updates Wednesday AM 3-6-24
Currency Insider Iraqi Dinar - Dong Updates Wednesday AM 3-6-24
Iraqi dinar Revaluation Latest update – 1:51
Finally time pay off Iraqi dinar latest news – 2:45
Currency Insider Iraqi Dinar - Dong Updates Wednesday AM 3-6-24
Iraqi dinar Revaluation Latest update – 1:51
Finally time pay off Iraqi dinar latest news – 2:45
Iraqi dinar Revaluation Latest update - 1:51
Finally time pay off Iraqi dinar latest news – 2:45