Example of an Exchange Appointment Checklist and Tips For the Big Day

Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest:  Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team

Bank appointment for Currency EXCHANGE Instructions/Checklist

Bank Name_________________________________________

Bank 800#__________________________________________

“I am calling to schedule a foreign currency exchange”

My name is___________________________________________

My zipcode is__________________

My e-mail address is (If they ask for it)________________________________

For your own information or at your exchange appointment : No one is supposed to ask how much currency you have until you are at the exchange appointment.

I have________________________ IQN (Iraqi) currency

I have________________________VNN (Vietnamese) currency

I have________________________ IDN (Indonesian) currency

I have_________100Trillion,________50Trillion,_______20Trillionand_______10Trillion
2008AA notes of ZWN (Zimbabwe) currency

FILL IN THE BLANKS for EXCHANGE appointment information that you get from the call
center representative:

Your appointment Information:

Date_________________________

TIME_________________________

The Location____________________

------------

The Day of Your Appointment- Things To Do

1. Make sure you know where you are going. Arrive early so you can “get yourself together, take a deep breath”.

Do not loiter. If you are too early, stay SECURELY in the general area but not in the bank parking lot!

2. Remember to get in and get the EXCHANGE done, there a lot of other people behind you in line so be thoughtful of their time as well.

You will have time for questions at your second appointment with your new Private Banker/Wealth Manager.

3. Be discrete, be professional, and be alert and aware of your surroundings. BREATHE! Seriously consider hiring security to accompany you to your appointment or bring a trusted friend.

4. Collect business cards from everyone or take their name and phone numbers as well as the location of their regular branch office.

5. Read and Sign the NDA. If it is simple and states you cannot tell anyone except your spouse, lawyer, or CPA (These are the people that need to know how you came about your money for tax purposes) how you came about all of your new found wealth, sign it and move forward with your exchange.

Be prepared to uphold it!

If you break the terms, you could lose your newfound wealth.

If the NDA is more complex and you are not comfortable with it, simply let them know you would like to explore your options with another banking institution. They may or may not waive the NDA.

REMEMBER TO GET A COPY OF THE NDA IF YOU SIGNED IT.

--------------

The Day of Your Appointment Things NOT To Do

Do not demand anything while at the bank or act like a lunatic, you will be escorted out.

Remember the Golden Rule “Treat others the way you wish to be Treated”!!!

Items to Bring to the EXCHANGE Appointment

(Check off the list as you put all items needed together to make sure you remember everything)

“Driver’s License

“Second form of ID (accredit card or passport)

“Your most recent utility bill (Water, power, etc.) to confirm residency in case you have never held an account with the bank you will be exchanging with or for another form of ID

“Power of Attorney Paperwork (If you are exchanging for someone else)

“A pad, pen to take notes, calculator

“Receipts for all currency purchased or gifting letter if they were a gift in case they are needed (Do not offer them, only do so if they are requested)

“IQD / VNN / IDN / ZWN currency

“Have your TOD designees (Transferable on Death) full legal names, phone numbers, addresses and Social Security Numbers written down that you want listed on your accounts.

You can have multiple TOD designations per account (Wife/Husband, Children, Grandchildren, Nieces/Nephews, etc.)

“Have a list of Cashier’s Checks you will need, if any, along with the exact amounts and who they need to be Payable to

“Decide in advance if you will be requesting cash for “Pocket Money” beforehand and how much……if allowed
-----------

New Account Numbers for each Currency EXCHANGED (If You decide to have separate accounts) For your own records. At one time it was suggested to use separate accounts for each currency in case of different tax liabilities……That may no longer be the case

Name of Bank Exchanger____________________________________________

Bank____________________________________________

Branch___________________________________________

IQD Checking Account Number__________________________________________

IQD Checking Routing Number__________________________________________

IQD Savings Account Number (Deposit 50% of your Exchange for Taxes just in case and do not touch until Tax Time)_________________________________________

Add TOD (Transferable on Death) Names to Accounts (Checking and Savings)

“Make sure you receive copies of the deposit slips and all account information

“Get Clean and Clear Certificates – at least 10 or more (Documentation that your money is not tied to anything illegal)

“Get starter checks if needed until your checks arrive

“Get ATM card if you want one

“Set up Online Banking if wanted

“Inquire about Extra Insurance for your funds __________

 (Use the same format for VND, Rupiah, Zim and Rial or other currencies if they are also exchangeable at this time)

DID YOU GET A COPY OF YOUR SIGNED NDA?

Set second appointment with a Private Banker or Wealth  Manager  (The bank will guide as to who you need to speak with based on your EXCHANGE/deposit amount

This appointment will be the one in which you discuss all of your options for investment and
your “perks”. Also Trusts and all other questions you may have.

Private Banker Name__________________________
 
Telephone Number____________________________

Appointment time______________

Location___________________________

Notes:  ___________________________________________________________________

____________________________________________________________________

___________________________________________________________________

4 Money Behaviors You Need To Change Now To Build Your Wealth

I Became a Millionaire by 30: 4 Money Behaviors You Need To Change Now To Build Your Wealth

Adam Palasciano   Mon, Mar 18, 2024

Amid what seems like out-of-control inflation, becoming a millionaire seems like a dream. However, as of 2024, there are about 22 million millionaires in the U.S., according to Millennial Money. It’s even possible to become a millionaire in your 20s.

CNBC spoke with Vivian Tu, a former Wall Street trader-turned expert, educator, podcast host, and founder of the financial equity phenomenon Your Rich BFF. Amazingly, she made her first million by age 27

Tu grew up in an immigrant household that focused on frugality. Then, she started her career on Wall Street and realized the wealthy focus less on saving and more on earning and finding ways to grow their wealth.

4 Tips To Build Your Wealth

Here are four tips Tu suggested to help you become a millionaire yourself:

Focus on the Long Term: Becoming wealthy means developing patience when it comes to growing your wealth. Investing your money and holding it for many years before selling your assets typically results in much more growth. For example, if you sock away thousands of dollars per year in your retirement account, not touching it until at least age 59 and half will mean significant wealth later on.

Stop Trying To Impress Others: Instead of spending money on designer clothes, luxury vacations or a fancy apartment, wealthy people invest in assets that pay them back. Investing to earn passive income is the true way to build long-term wealth and have financial freedom.

To Read More Please Go to Original Article Here:

https://finance.yahoo.com/news/became-millionaire-30-4-money-190456885.html

Iraqi Dinar Today Video Updates Tuesday Afternoon 3-19-24

Iraqi Dinar Today Video Updates Tuesday Afternoon 3-19-24

Explosive News: Ready to Join WTO & Currency Speculation Explodes – 4:25

Great News US Treasury Confirm IQD Revaluation Massive Exchange Rate – 2:05

WOW its, Massive $1.32 Rate Set On Iraqi Bank Screens – 3:32

 Explosive News: Ready to Join WTO & Currency Speculation Explodes – 4:25

https://www.youtube.com/watch?v=bWe4tIUa3fQ

Great New US Treasury Confirm IQD Revaluation Massive Exchange Rate – 2:05

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

WOW its, Massive $1.32 Rate Set On Iraqi Bank Screens – 3:32

https://www.youtube.com/watch?v=wJHorIE30i8

Iraq Economic News and Points to Ponder Tuesday Afternoon 3-19-24

Iraq Economic News and Points to Ponder Tuesday Afternoon 3-19-24

Tlm724 Administrator Bondlady’s Corner

Weak Infrastructure Hinders The Spread Of Electronic Payment In Iraq

March 18, 2024     Last updated: March 18, 2024  Al-Independent/- Iraq faces great challenges in disseminating electronic payment services despite the availability of the necessary technologies for that.

This is due to the absence of the necessary infrastructure in many departments and institutions, in addition to the weak culture of electronic dealing among a wide segment of citizens.

Experts' criticisms:

Economist Manaf Al-Sayegh criticized the absence of infrastructure for electronic payment services in many departments and institutions.

 Al-Sayegh stressed the importance of converting all financial operations to a banking system based on electronic payment for ease of use and improving the quality of the system.

Al-Sayegh pointed out that most institutions and companies currently deal with the electronic payment system, but the lack of it in many departments and stations hinders its spread.

 Imad Al-Mohammadawi, who is interested in economic affairs, called for the necessity of spreading the culture of electronic payment among segments of society.

 Al-Mohammadawi stressed the importance of encouraging, supporting and facilitating electronic dealings to attract more customers.

Government efforts:

 Deputy Governor of the Central Bank, Ammar Khalaf, explained that  “the digital financial transformation began with the localization of employee salaries and the opening of bank accounts aimed at using electronic payment in daily transactions.”

Khalaf pointed out that  some ministries responded to the directives of the Central Bank and the government, such as the Ministry of Oil, the Passports Directorate, and the General Traffic Directorate.

Challenges:

    Lack of necessary infrastructure in many departments and institutions.

    Weak culture of electronic dealing among a wide segment of citizens.

suggested solutions:

    Creating the necessary infrastructure for electronic payment services in all departments and institutions.

    Spreading the culture of electronic dealing among segments of society through awareness campaigns.

    Encouraging, supporting and facilitating the use of electronic payment services.

Electronic payment services still face major challenges in Iraq, but government efforts are based on disseminating these services and improving the culture of dealing with them among citizens.    https://mustaqila.com/ضعف-البنى-التحتية-يعيق-انتشار-الدفع-ال/  

Economists: Citizens Still Prefer Cash Transactions Over Electronic Transactions

 Economical 03/18/2024  Baghdad: Shukran Al-Fatlawi Economic affairs specialists  criticized the lack of infrastructure for electronic payment services in many departments and institutions, and confirmed that most citizens still prefer cash transactions over electronic transactions.

 Economist Manaf Al-Sayegh told Al-Sabah:

Electronic payment is a globally recognized technology that can be used without the need to carry paper money or coins, as the world today no longer needs paper payment or the use of coins, so

we find it approved through the use mechanism. A credit card that enables its holder to pay anywhere.  He added that the

need arises today for all financial operations to be transformed according to a banking system that adopts the principles of automation and dealing with electronic payment (MasterCard) or (Credit Card), as it facilitates banking operations and transfers and gives an element of speed in financial performance, pointing out that   there is a value that is sometimes imperceptible.

But the quality of the system in financial transactions between customers and the lack of difficulty, whether at the level of individuals or companies, give these advantages value for dealing according to the automation system.

 Al-Sayegh pointed out that most institutions and companies currently deal according to the electronic payment system, and even malls and stores with limited capital deal according to this system for the purpose of financial facilities and raising performance, adding that

 there are some obstacles, including the lack of infrastructure in many departments and stations for this service, stressing.

 There is a need to prepare these systems by the Ministry of Finance and the Central Bank, as the country was late in introducing this service, which has been used in most countries for decades, especially the card service through mobile phones.

He noted the  necessity of disseminating payment points (POS) in their modern form to obtain the best service in multiple places, and  obligating all departments, institutions, and shops to use them to benefit everyone. 

He stressed that  dealing with electronic payment   enables controlling transfers and  not taking the currency anywhere without the knowledge of the state, so it   can be used as a security element to prevent currency leakage.

In turn, Imad Al-Mohammadawi, who is interested in economic affairs, called during his speech to “Al-Sabah” for the necessity of spreading the culture of electronic payment among the segments of society, pointing out that  most citizens prefer cash transactions over electronic transactions because they have become accustomed to this method, believing that it is better. 

 Al-Muhammadawi pointed out  the necessity of encouraging, supporting and facilitating dealing according to this new mechanism for citizens with the aim of attracting many customers according to this method, which is considered universal and one of the approved methods in all aspects of life, because of the safety it brings in not carrying lumps of cash in daily transactions. 

It is noteworthy that the Deputy Governor of the Central Bank, Ammar Khalaf, explained in the first Iraqi Digital Economy Forum that

“the digital financial transformation began with the localization of employees’ salaries and the opening of bank accounts, the primary purpose of which was the use of electronic payment in daily transactions, whether inside or outside the country,” and he pointed out that

“some The ministries responded quickly to the directives of the Central Bank and the government, especially the Ministry of Oil by making collections at gas stations and others done electronically, as well as the Passports Directorate, which required that payment be electronic, in addition to the General Traffic Directorate and other ministries.    https://alsabaah.iq/93643-.html   

Experts: Activating The Industrial And Agricultural Sectors Stops 80% Of Imports

 Economical 03/19/2024   Baghdad: Hussein Thaghb Al-Tamimi

Specialists and experts in economic affairs believe that fully  activating the industrial and agricultural sectors could stop 80 percent of imports, while they stressed that  stabilizing prices in local markets requires cooperation between the concerned parties.

 Head of the Baghdad Chamber of Commerce, Firas Rasool Al-Hamdani, said:  The chamber’s committees are working to follow up on prices in local markets to find out the reasons for the high prices of food in the markets.

 He revealed the existence of reasons for raising prices that are beyond control, which we can put in the category of external reasons. The Chamber’s committees are also studying problems in the markets and their impact on price stability.

 It is noteworthy that the  external reasons are represented by the increase in prices from the source of imported materials at certain times of the year, including coinciding with the advent of the holy month of Ramadan.

 As for the internal reasons, they are represented by the confusion occurring at the ports and the entry of food supplies, in addition to the delay in financial transfers.

Economic affairs specialist Ahmed Maklaf said:

The rise in food prices is clear this year, and here  we can diagnose the reasons, most notably the accumulation of goods imported from abroad in Iraqi ports, which has confused the customs clearance scene, due to the difficulty of financial transfer and the failure of remittances to reach the source of imported materials.

He pointed out the importance of having a money transfer system that the importing merchant interacts with and knows its requirements to avoid such matters, which have become a challenge to importing goods.

He stressed that regulating the commercial reality is extremely important, as the

Iraqi market depends to a large extent on imports from international and regional markets to cover the increasing demand for foodstuffs, and this matter must be realized by the relevant authorities.

 As for the specialist in commercial affairs, Omar Al-Sudani, he stressed that a

 market the size of Iraq and growing is in dire need of organizing its commercial reality and rising to the world in performance, as the

 commercial process must be organized in all its stages from the source, transportation, and ports all the way to the final destination, in addition

 to ensuring that the import amounts are paid in accordance with Legal conditions at official exchange rates. Al-Sudani explained that the

 local market requires the cooperation of all concerned parties and the

 presence of flexible work mechanisms that achieve high smoothness in the arrival of goods, away from all forms of complexity, which is usually one of the causes of routine.

 He pointed out the necessity of regulating the reality of financial transfers in a way that does not confuse the commercial scene, which suffers greatly from this matter, as the ball is thrown in the court of the financial sector, which causes confusion in the entry of goods into the local market.

As for Baghdad Economic Forum member Jassem Al-Aradi, he said:

 The Iraqi market’s dependence on global markets to cover the Iraqi family’s requirements is something that needs to be stopped, as the country can dispense with most foreign imports if the country’s own efforts are relied upon. He stated that  activating the agricultural and industrial sectors eliminates the need for importing 80% from outside the country,

especially since the  elements for the success of the two sectors are available in Iraq on a large scale and      can be employed in a way that raises Iraq’s productive capabilities to levels that cover the country’s need for some crops and industries.

 He stressed the necessity of raising the country's administrative capabilities in a way that  makes the productive sectors more effective and  contributes to covering the country's needs. 

https://alsabaah.iq/93722-.html   

To read more current and reliable Iraqi news please visit BondLady’s  Corner: https://www.bondladyscorner.com/  

More News, Rumors and Opinions Tuesday Evening 3-19-2024

KTFA:

Frank26:  "THE IQD IS INTERNATIONAL & RESTRICTION FREE FOR THE WORLD TO USE IT"..........F26

TRANSLATION:
International Development Bank

@IDB_Iraq

From Baghdad to China, in a maximum of 3 days!
The International Development Bank provides money transfer services to companies and merchants to China in the Yuan ¥ currency and at preferential rates.

With the International Development Bank; Transfer your money easily and quickly!

#Corporate_account
#International_Development_Bank

"Frank26:  I AGREE WITH THIS... BECAUSE IN MY OPINION A NEW EXCHANGE RATE IS COMING IN THOSE DAYS.".........F26

Al-Kadhimi: We are waiting for the Council of Ministers to vote on the 2024 budget schedules and send them in the coming days

3/15/2024

Today, Friday, the Parliamentary Finance Committee commented on Finance Minister Taif Sami’s announcement that data related to the 2024 budget schedules would be sent to the Council of Ministers.

Committee member Moeen Al-Kadhimi explained, in a press statement, followed by NRT Arabia, that “the Ministry of Finance sending data on the 2024 budget tables to the Council of Ministers means that its mission has ended and we are waiting for the Council of Ministers to vote on these tables and send them within the next few days.”

Al-Kadhimi added, “The Council of Ministers will speed up sending these tables to the House of Representatives, and we in turn will have access to them, and some amendments may be made to them, if there are any observations, and we cannot view these data, except after they officially arrive from the Council of Ministers.” “After he approves it.”

Last Wednesday, the Minister of Finance, Taif Sami, announced the completion of data related to the 2024 budget tables, the inclusion of texts, and sending them to the Council of Ministers.

Sami said, “The data related to the 2024 budget tables has been completed, the texts have been included, and they have been sent to the Council of Ministers.” 

She stressed that she "will not launch funding for the salaries of Kurdistan Region employees for the month of March until after resettlement, and I do not disagree with the decision of the Federal Court."

The Prime Minister, Muhammad Shiaa Al-Sudani, announced on February 20 that “the government is continuing to scrutinize the schedules for the 2024 budget, as the government carefully confronted the deficit within the 2023 budget.”   LINK

 ************

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man  Al-Sudani...talked about having the dinar be 1.32 dinars to the dollar...turns out to be around $0.76.  That's a big bit of purchasing power for the citizens.  Is it what they're going to end up with in the future based off all the natural resources that they...all the non-oil maximized income...tourism, all the extra stuff you never had when Saddam Hussein was in office?  Saddam Hussein's $3.22 to 1 dinar was based off about $35 a barrel of oil.  Oil is pushing $85 today...They have surplus money coming from all these different places...

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:  The funding for all of 2024, last Wednesday was suspended...and it was changed...They must be using the new exchange rate.  They said they changed it and then sent it to the Council of Ministers for the review.  Then it is to be sent to the House for a vote...It should be going for a vote any time.  We think it's going to move to 1.32 making it $0.76 which is not more than the dollar like Sudani promised, until they add the new exchange rate to it.  That's what we're expecting.

LIVE! Hundreds Of Banks Are GOING TO FAIL! Which Ones Are They?

Greg Mannarino:  3-19-2024

https://www.youtube.com/watch?v=DcZf0_lToE4

MASSIVE DEBT TRAP: American Households Struggle with Debt Burdens as Debt Hits New Record Levels

Lena Petrova:  3-19-2024

https://www.youtube.com/watch?v=UFjOwv1RxbY

Goldilocks' Comments and Global Economic News Tuesday 3-19-24

Goldilocks' Comments and Global Economic News Tuesday 3-19-24

Good evening Dinar Recaps,

"User-Ready Mainnet
Phase 2 marks the deployment of a user-ready Mainnet where anyone can deploy and interact with smart contracts. In this phase, the network is ready for more extensive smart contract utilization, so it's the practical beginning of smart contracts on the Stellar network."

At the time of this writing, we are just a couple of hours away from the use of digital currencies going to mainnet.
It will be a transition from testnet interactions with cryptocurrencies to actual deployment and use of cryptocurrencies used on a main server.
Here, actual transactions can be made on a blockchain server between companies and countries going forward.
This will begin increasing demand on our new digital economy and new price pressures based on real values.
This does not change paper currency values just yet, but new liquidation of digital assets such as Stablecoins that represent them will provide new price pressures on them over time. Coin Telegraph

© Goldilocks

PHASE 2

~~~~~~~~~~

Cryptos are currently in what is called a retracement. This happens before a major price trend changes such as a Bitcoin halving.

This time is different. We have a temporary price reversal taking place within a larger trend.

The larger trend is the movement of money inside a digital economy. This time will give more people an opportunity to buy into cryptos at a lower price.

It can and will lead to a broader adoption inside the new digital asset-based trading system.

Welcome to the expansion of our new economy.

© Goldilocks

~~~~~~~~~~

Stellar Lumens Challenges Ethereum: Ripple Rival Expands Reach with Smart Contracts – XLM Poised to Dominate The World | Crypto News Flash

~~~~~~~~~~

Investors are about to find out whether Fed still expects 3 rate cuts in 2024 | Finance Yahoo

~~~~~~~~~~

Federal Reserve’s interest rate decision ends markets’ long resistance | CryptoPolitan

~~~~~~~~~~

CFTC’s Market Risk Advisory Committee to Meet.

The CFTC’s Market Risk Advisory Committee (MRAC) will meet on April 9 at 9:30 am ET. The MRAC will consider current topics and developments in the areas of central counterparty risk and governance, market structure, climate-related risk, and emerging technologies affecting derivatives and related financial markets.   Gibson Dunn

~~~~~~~~~~

Expert Says It’s Not Crazy If XRP Soars 1,500% to $10 | Crypto Base

~~~~~~~~~~

Stellar will invest $100M in Soroban smart contract apps in bid to beat Ethereum | VentureBeat

~~~~~~~~~~

Banks place client transition readiness under increasing scrutiny | Responsible Investor
~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps  --  www.DinarRecaps.com

The $21 Trillion RV Question: Iraq’s Economic IQD Dilemma and the Gold Solution: Awake-In-3D

The $21 Trillion RV Question: Iraq’s Economic IQD Dilemma and the Gold Solution

On March 18, 2024  By Awake-In-3D

From Economic Impossibility to Golden Opportunity: The Path Forward for the RV of the Iraqi Dinar

I tremendously enjoy engaging with my subscribers at GCR Real-Time News.

The questions raised and the discussions held around currency revaluations, particularly concerning Iraq’s dinar (IQD), provide for compelling conversation on the limitations of fiat currencies and the potential for a shift towards a gold-backed monetary system.

As countries assess and plan realistic strategies to combat today’s growing fiat economic and monetary uncertainties, the conversation about the nature of currency value, the impact of oil revenues, and the feasibility of significant currency revaluations serve as both informative and relevant.

Here’s the summary breakdown of a recent conversation thread on GCR Real-Time News.

The Iraqi Dinar RV Conundrum

At the heart of the debate is Iraq’s consideration of revaluing its currency, the IQD, potentially to $3.00 (or higher) against the U.S. dollar, a move that poses significant mathematical and economic challenges.

With an estimated 7 trillion (or more) IQD notes held outside of Iraq, a revaluation (RV) at such a rate would require an unfathomable $21 trillion ($3.00 x 7 Trillion IQD) fiat Dollars to fund the RV.

A sum far beyond Iraq’s current financial capacity, generated primarily through its oil trade revenues of around $100 billion per year at current oil prices. It would take Iraq centuries to pay for a $3.00 RV exchange rate at Iraq’s current and future production capacities. No Oil Contracts or economic development project investments scenario gets Iraq to $21 Trillion in the near or long term.

Iraq produces around 4.2 million barrels of oil per day combined with constant geopolitical instabilities. The USA produces over 13 million barrels per day.

This stark reality highlights the inherent limitations of fiat currencies, which are not backed by physical commodities like gold but only by public confidence and a government’s declared ‘promises’.

The Gold-Backed Purchasing Power Solution

The potential solution lies in transitioning to a gold-backed currency system, a concept currently being explored by the BRICS nations as they seek to introduce an alternative to the fiat currency system dominated by Western economies.

A gold-backed currency promises enhanced stability and purchasing power, directly challenging the existing fiat system’s dominance.

If Iraq, Vietnam, Indonesia, Malaysia, etc., are accepted into BRICS, their currencies would participate in the new BRICS gold-backed common trade currency and financial system.

In other words, the IQD, VND, etc. would significantly gain purchasing power (exchange rate) against the Dollar, Euro, and other major fiat currencies.

So why can’t Iraq just peg the IQD to a high dollar exchange rate like Kuwait, Oman and Bahrain do?

Because unlike the other high-rate currencies in the region, Iraq has the unique problem of having over 7 trillion (or more) in IQD being held outside of Iraq by foreigners like you and me.

Kuwait, Oman and Bahrain do not have a fraction of their currencies being held by foreigners as does Iraq. This is why these other countries can maintain their high fiat exchange rate peg to the US Dollar. Iraq simply cannot repeg the fiat IQD value (purchasing power) with that many IQD held around the world.

The Ripple Effect of a Gold-Backed System

Should a gold-backed currency system come to fruition, the implications become financially significant, forcing Western economies to reconsider their fiat monetary policies and potentially launch their own gold-backed currencies in order to stop their old currencies from massive devaluation.

This shift could dramatically increase the purchasing power of currencies from Iraq and other countries like Vietnam, Indonesia, Malaysia, and Zimbabwe, making a revaluation of the IQD both mathematically and economically viable.

The key would be the relative devaluation of fiat currencies like the U.S. dollar against new gold-backed currencies, fundamentally and forever altering the global economic landscape.

In other words, the increase in the IQD’s purchasing power (exchange rate) would originate from the depreciation of the US Dollar vs. the gold-backed IQD – not from the IQD suddenly gaining purchasing power out of thin air (because it can’t).

There are not enough oil contracts or native economic development value-generation within Iraq’s realistic capability that could support (pay for) a fiat IQD revaluation to $3.00+ against the current fiat dollar.

Basically, $21 Trillion dollars rivals the total GDP of the entire United States. Let that sink in…

The Re-denomination vs. Revaluation Debate

Iraq’s ongoing strategy to re-denominate the IQD, removing three zeros from its notes, illustrates the difference between re-denomination and revaluation.

While re-denomination is a superficial change affecting the currency’s appearance and public perception (confidence), revaluation alters the currency’s actual purchasing power.

The Iraqi Ministry of Finance (MoF) and the Central Bank of Iraq’s consideration of this strategy underscores the complexities of currency management and the pursuit of public confidence in the IQD.

The Global Context and the Future of Fiat Currencies

The discussion extends beyond Iraq, touching on the broader dynamics of the global financial system, the role of free-floating currencies, and the managed pegs that stabilize many oil-dependent economies.

The possibility of transitioning to a gold-backed system raises questions about the sustainability of fiat currencies and their future in a world looking for more stable and reliable monetary foundations.

As all of us in the RV/GCR community seek to freely and openly discuss these issues, the situation in Iraq serves as a critical point of analysis for the future of the global financial system as a whole.

Sidebar of topics discussed at GCR Real-Time News Telegram Channel:

1. Estimated IQD Notes Held Abroad: 7 trillion IQD, as reported by Iraq’s Ministry of Finance.

2. Hypothetical RV Rate: If Iraq revalues (RVs) the IQD to $3.00 against the U.S. dollar.

3. Total Dollar Requirement for Hypothetical RV: $21 trillion (7 trillion IQD x $3.00).

4. Iraq’s Annual Oil Revenue: Approximately $100 billion at current oil prices.

5. Time Required to Cover RV Cost with Oil Revenue: Over 210 years, assuming 100% of Iraq’s annual oil revenue is dedicated to funding (paying for) the RV.

6. Current Exchange Rate Perception Issue: If Iraq re-denominates by deleting 3 zeros from the currency, 1 IQD equals 1.310 per dollar, compared to the less favorable current rate of 1310 IQD per dollar. But the purchasing power of the IQD remains unchanged.

7. Major Free-Floating Currencies: Dollar, Euro, British Pound, Swiss Franc, Japanese Yen, Russian Ruble, Indian Rupee, among others. These countries have highly diverse economies (their GDPs are not dependent on a single industry or service).

8. Countries with Pegged Currencies: China, Kuwait, Oman, Saudi Arabia, Bahrain, Singapore, Hong Kong, Iraq, and many others emphasizing the prevalence of stable, managed currency pegs and floats among oil-dependent, or less diverse economies.

9. Economic Dependency on Oil: The majority of GDP for many pegged/managed currency countries comes from oil revenues, highlighting the risk and volatility in oil markets if these countries utilized a free-floating currency exchange rate system.

The shift towards a gold-backed currency system could herald a new era in finance, challenging the status quo and offering a path toward greater economic stability and equity among nations.

The journey from fiat to gold-backed currencies is most certainly fraught with challenges and uncertainties, yet the potential rewards could redefine the essence of monetary value in the near future.

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews
Follow me on Twitter: @Real_AwakeIn3D

https://ai3d.blog/the-21-trillion-rv-question-iraqs-economic-iqd-dilemma-and-the-gold-solution/

Iraqi Dinar Video Update Tuesday AM 3-19-24

Iraqi Dinar Video Update Tuesday AM 3-19-24

CBI Set IQD 3.44$ New Rate – 3:10

WOW It's Unbelievable Massive Update – 4:41

Chase Bank Announce Display Rate On Screen – 3:11

 CBI Set IQD 3.44$ New Rate – 3:10

https://www.youtube.com/watch?v=Wru9IY0vFnE&t=93s

WOW It's Unbelievable Massive Update – 4:41

https://www.youtube.com/watch?v=S3cpw-jxKaA

Chase Bank Announce Display Rate On Screen – 3:11

https://www.youtube.com/watch?v=asb3EMKnuoo

Iraq Economic News and Points to Ponder Tuesday AM 3-19-24

Iraq Economic News and Points to Ponder Tuesday AM 3-19-24

Tlm724 Administrator Bondlady’s Corner

Towards A Multipolar Global Monetary Policy

 Economical 03/18/2024

I do not believe that there is an authority stronger than the dollar in Iraq, as all authorities submit to it willingly, and there are those who justify themselves by defending their dollar interests and others who advise against harming this authority out of fear or greed.

Can we find a way out close to this authority that controls everything, especially since Most of Iraq's revenues are generated through the dollar.

In 2014, BNP Paribas was punished with a fine of $9 billion to be paid to the United States as a result of financing exports from Cuba, Sudan, and Iran with US dollars, because the three countries are under US sanctions, even though the financing process took a fraction of a second when it passed through an account ( Paribas) in New York and nothing more, which made an American court issue this heavy fine despite the fact that all the procedures followed in the transfers were legal according to European laws and despite the fact that the aforementioned bank is a global multinational institution and a financial services holding company that belongs to a friendly country and is headquartered in Paris and is knowledgeable.

The nature of international financial laws is broad, yet it was subjected to this harsh punishment, and  it was not taken into consideration that this bank belongs to allied countries and is one of the Big Five in the Security Council.

These harsh, unilateral measures enabled the Americans to impose their financial hegemony on other countries of the world.

As a result of this method and the fear of harsh sanctions, European companies left Iran in 2018 after they complied with the decision of former US President Donald Trump after his unilateral withdrawal from the Vienna Nuclear Agreement.

In 2015, when the government of Mr. Adil Abdul Mahdi refused to comply with the implementation of sanctions on Iran, it was overthrown.

It is clear that due to the strength of the dollar, the United States has dominated global trade for a long time, but recently the views of many global financial institutions have differed regarding the future of the US dollar, between those who believe in its weakness in the future and those who believe that it will remain strong as the only stable international currency guaranteed in circulation.

 Seventy-eight years ago, specifically after the end of World War II, the dollar became the undisputed reserve and exchange currency around the world,

but after the world became involved with it on the basis of replacing it with gold at a fixed price of $35 per ounce, and after central banks flocked to the dollar in order to build up their own reserves.

Its deposits were as stable as gold, in addition to being easy to keep or manage.

At that time, the Americans began to produce gold when they printed dollars as a counterweight to it.

For example, the Bank of France, starting in 1965, systematically replaced gold with the dollar, before America surprised the world on August 15. / August 1971, without prior coordination with any of its allies, by ending the direct international transfer from the dollar to gold.

After abandoning gold as a complete cover for money, the currency cover began to combine several components, including gold and the major foreign currencies the state owns (the dollar, the euro, the British pound, the Japanese yen, the Swiss franc, the Australian dollar, and the Chinese yuan), which made every fluctuation in The financial and monetary policies in the United States lead to the instability of the currencies of emerging and developing countries, up or down in a way that does not reflect the economic performance of those countries, which constitutes a source of continuous economic danger.

This matter has prompted some countries to use their local currency to settle their commercial transactions in order to avoid the risks of dollar fluctuations or Use of currencies other than US currency.

 After the  significant rise in global oil prices starting in 1973 and  as a result of huge dollar bills, a problem or phenomenon called the “petrodollar” emerged, as the huge amounts produced by the energy markets began to be invested in American markets, which provided a comparative advantage for the United States economy, and led to great frustration among the people.

Its European partners in particular, which prompted them, as a natural reaction, to issue a unified European currency in 1999, where the euro was established as a global currency, but it was unable to compete with the dollar due to the lack of a unified European treasury corresponding to the liquidity of New York markets, and thus the dollar remained in its position and influence as the reserve currency. The main trading in the world.

When the global financial crisis occurred in 2008, it was expected that the dollar’s ​​dominance would decline because the crisis was the responsibility of the United States alone, but the strange irony is that its dominance was strengthened, which prompted President Barack Obama to confirm in March 2009 that the dollar would maintain its dominance over global trade, basing this on political reasons.

Not economic, which is (that America has the most stable and transparent systems in the world), and an example of that transparency is that everyone is aware of how the US budget, the Federal Reserve, and the financial system work, while their Chinese counterparts operate in a way that lacks complete transparency, which has made the dollar a safe haven without a real competitor.

In the short term, which prompts investors to resort to it in any subsequent financial crisis, but this does not negate the decline in its use globally, as the control of the American currency over the world has begun to lose its momentum with the emergence of the phenomenon of “weaponizing the dollar” after the start of the Russian-Ukrainian war, as it resulted in Western economic sanctions on Russia has a bad influence on the global economic, commercial and financial systems in a way that has raised great concerns in global markets regarding the modification of the global financial system.

This anxiety and fear led to a decline in global monetary reserves in dollars to 59% currently, after they constituted about 72% in 1999, which is a significant decline in a relatively short period.

However, the de-dollarization of the world will not be completed in the short term, but it is clear that the movement that has begun is irreversible,  especially since the United States acted “stupidly” when it made its currency a weapon of political pressure, and they (the Americans) have pushed the world - from... Unintentionally - to form a global movement to get rid of the dollar in order to shake the world’s confidence in American financial actions, especially the unilateral financial sanctions it imposed on many countries.

The United States was not satisfied with that, as it further depleted the reputation of the dollar when it froze the foreign exchange reserves of the Russian Central Bank denominated in dollars in 2022 after their participation as a party in the Russian-Ukrainian war, which made non-Western world leaders fear similar behavior with their countries if a country entered into a war.

With one of the neighbors, and that conflict did not satisfy Washington, this means that their countries will lose the bulk of their foreign exchange reserves, which prompted them to begin gradual work to reduce those dollar reserves.

 Global resistance to the dominance of the dollar has taken different dimensions, but the clearest example is the increased activity of the BRICS group in accelerating the launch of its own currency to finance its stock exchanges, and China’s development of its own electronic settlement system between banks to constitute an alternative to the Western-controlled SWIFT system after it banned the “SWIFT” association.

Almost all Iranian banks, and later Russian banks, stopped using the messaging system, as they justified their actions with money laundering problems and not with US sanctions, which prompted Tehran to link its domestic financial clearing system (SEPAM) to Russia’s financial message transfer system (SPFS), which theoretically enables the two countries. Of procedure Cross-border transactions.

This activity was then reinforced when Presidents Vladimir Putin and Xi Jinping met on December 15 and announced plans to develop a joint system for financial messages and clearing between Russia and China.

This announcement included an invitation to international banks to join this system with the aim of deterring the continuing Western threat of economic sanctions.

 The BRICS group of countries, which includes the fastest growing economies in the world, represented by Russia and China, along with India, South Afric Brazil, and other developing countries that have recently joined and others are awaiting approval of their accession requests.

The five founding countries of the BRICS structure do not explicitly hide their intentions, namely that they are working to form a new international order that believes in pluralism and the rejection of exclusivity in political and economic decision-making.

They do not hide their political goals of attracting international forces that reject the current international order.

This group acknowledges its weakness, represented by the close relationship of some of its members with the United States,  but it considers it a challenge that can be overcome over time, through the availability of significant strength factors, such as its share of foreign currency reserves.

Four countries, including (China, Brazil, India, and South Africa) hold about 40% of the world’s total monetary reserves, while  China alone has about 2.4 trillion dollars, which is a very large number, if we know that it is enough to buy two-thirds of the companies in the Nasdaq index.

It is the second largest creditor after Japan.

 As for Russia, it classifies its battle with the West as an “existential battle,” and considers its membership in this group to be a protection for it.

It supports its strategic directions and its own choices in formulating a new global principle that emphasizes that all roads no longer lead to Washington alone.

The serious work of the BRICS group can be seen through the formation of a group of important financial institutions, such as the establishment of the New Development Bank, based in Shanghai, to become a counterpart and competitor to the World Bank, as well as the establishment of the BRICS Fund, opposite the International Monetary Fund.

These two important establishments  announced their goals of supporting growth and development at the international level, which     represents the first step in the BRICS countries’ plan to create a new global order, and to  liberate the world from the restrictions of the two financial institutions  (the World Bank and the International Monetary Fund) that the United States controls in formulating their general policy. In a way that serves its interests, as its opponents accuse it of.

 An important factor accelerating the emergence of the new system is the utilitarian nature of American economic institutions themselves. 

As it is expected to follow its interests and join the new system, it will simply not be more patriotic than the European economic institutions that abandoned Europe and left for America, when their interests required that, when America emerged as a unique power in the world at the financial level, and we may witness the transfer of American capital to China.

And its allies faster than expected, and then the new international bank and fund will be more attractive to international capital, which will contribute to increasing the growing competitiveness of the BRICS markets in attracting global capital, and this will help the group in overcoming the varying points of weakness among its countries represented by poverty rates.

Inequality, in addition to the geographical distance between these countries and the presence of ideological currents of a sharp competitive nature, as is the case between Russia and China.

 Iraq, as a developing country, is important to all parties to the global conflict because of its position in the Middle East and  its possession of the most important elements of the conflict represented by energy.

It can  make the right decision after the picture has become clear about the nature of the global economic trends and  work to attract everyone to compete in investments that benefit the people of Iraq and  provide... Important opportunities in building infrastructure that form the basis for those investments, both Western and Eastern, but he must choose emerging trends when he is in the position of choice, noting that what is rumored about devastating American sanctions against Iraq are merely ideas and stereotypes repeated by some teenagers in politics.

And the economy, because I believe that the United States will not resort to such a measure because it will close the expiry date of its remaining confidence as a global economic authority.

If it does so, it will lose Iraq forever, and it does not want that at all.    

https://alsabaah.iq/93642-.html    

To read more current and reliable Iraqi news please visit BondLady’s  Corner: https://www.bondladyscorner.com/  

"Tidbits From TNT" Tuesday 3-19-2024

TNT:

CandyKisses:  Iraqi move to build the largest solar power plant

Economy News - Baghdad

A member of the parliamentary oil, gas and natural resources committee, Sabah Sobhi, revealed on Tuesday an Iraqi trend to establish the largest solar power plant.

Sobhi said that "the renewable energy law is in the process of discussions and is incomplete so far, and the committee is working in cooperation with the Energy Committee to launch legislation on renewable energy, pointing to "the parliament's interest in legislating this law during the current session."

"The largest solar power plant in Iraq will be built after the law is enacted," he said, adding that "so far the site has not been determined, but approval is in the process of obtaining it

CandyKisses:  Urgent Baghdad governor announces suspension of Tuesday working hours due to rain

{Local: Euphrates News} Baghdad Governor Abdul Muttalib Al-Alawi announced the suspension of official working hours for Tuesday in the departments of the local government of Baghdad due to rain and bad weather.

A statement by the governor's office, a copy of which was received by Al-Furat News, said the disruption came "based on the decision of the Baghdad Provincial Council."

Several provinces announced the suspension of working hours on Tuesday due to the rains, and Baghdad's education directorates suspended their schools.

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

CandyKisss:  Sudani reveals progress in ending foreign military presence

Baghdad - Iraq Today:

Prime Minister Mohamed Shia Al-Sudani confirmed progress in ending the presence of the international coalition during his meeting with German Minister of State for Foreign Affairs Tobias Lindner and his accompanying delegation.

A government statement explained that "Prime Minister Mohamed Shia Al-Sudani, German Minister of State for Foreign Affairs, received Tobias Lindner and his accompanying delegation."

During the meeting, Al-Sudani stressed "Iraq's welcome to the presence of German companies and their participation in development projects and infrastructure construction," pointing to "the government's continuation in expanding the investment environment and attracting global expertise, especially with the launch of the development road project and the associated opportunities, and the imminent signing of an agreement by Iraq with Siemens, and other German companies, in the field of gas investment associated with electric power generation," according to the statement.

"The state of stability and security achieved today in Iraq, and the growing capabilities of our security forces, confirm progress in ending the presence of the international coalition and shifting to bilateral relations with member states, especially in the context of the defeat of the terrorist remnants of ISIS," al-Sudani said.

According to the statement, the Prime Minister touched on "the current situation in the Gaza Strip, and Iraq's endeavor to deliver the necessary humanitarian aid to the Gaza Strip under aggression, and to support efforts aimed at a ceasefire and prevent the expansion of the conflict," and called on "the international community to take responsibility in stopping the approach of aggression and the war of genocide to which the Palestinian people are exposed."

The statement added, "For his part, Lindner expressed his appreciation for the size of development, economic growth and security improvement witnessed by Iraq," stressing "the German government's continuation in activating the joint action plan signed by the Sudanese with the German chancellor, during the recent Sudanese visit to Berlin."

He continued, "He also expressed his country's support for the government's steps to end the presence of the international coalition in Iraq," expressing "Germany's readiness to sign a bilateral cooperation agreement with Iraq in the security and military fields, as well as its support for Iraq's position on the need for a permanent ceasefire in the Palestinian territories, and to help the Palestinian people."

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

Tishwash:  Iraq sends technical and military committees to several countries to purchase advanced air defense systems

The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasoul, announced today, Monday, the sending of technical and military committees to several countries to contract for the purchase of advanced air defense systems.

Major General Rasoul said, according to the official agency, “Iraq has contracted French radars and a batch of them have arrived, and we are proceeding to
complete the radar system in general,” indicating that “there are low-, medium- and high-range radars.”

He added, "The Air Defense Command is capable of radar detection and monitoring the movement of aircraft within Iraqi airspace," noting that "the Military Command, led by the Commander-in-Chief of the Armed Forces, confirms the first priority of the Air Defense Command systems."

He stated that "there are technical and military committees that visited a number of countries and made offers to them, along with reviewing anti-aircraft weapons," pointing out that "when contracting for weapons or advanced systems, this will be announced." link

Mot:  ..... I Say!!! -- I Say!!! 3-18-2024

Mot.. Hoping We All Have a Very ~~~3-19-2024

"Coffee With MarkZ" Tuesday Morning Chat 3-19-2024

PDK Note: When Mark says there is no RV news-obviously I do not do notes……I will only transcribe RV Related or Intel with Financial relevance. Thanks for understandng.

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

Member: Good morning everybody! Praying God’s many blessings to you all.

Member: Does anyone remember hearing years ago this will happen in the spring? It’s the first day of spring today…

Member: Hope springs eternal.

Member: With there being less and less news day by day….Maybe it’s getting closer to happening?

MZ: I think the news is getting restricted as we get closer. I think the quiet is a positive sign. A number of sources were given cautionary notices to be quiet or NDA’s. So to me it’s a great sign that things are quiet.

MZ: There are loads of unsubstantiated rumors out there …but nothing that can be verified.

MZ: Contacts in Iraq and around the world still think we are within days….but they have thought that before….so not going to jump out of my skin just yet. The quiet is probably the thing that is the most encouraging to me right now.

Member: Our best hope may be that Iraq has gotten sick of the US messing with them and just goes alone……then the rest of the world may go after them………

Member: ​​Ramadan just started Mar 12 and goes 30 days. Maybe nothing until after that?

Member: Maybe Iraq need to RV before they go into Brics??

MZ: Yes news is a little slim…..MilitiaMan had a good one….a reminder that Iraq will be the savior of the world’s financial system. They clearly know their role in this process.

Member: I wonder when Sudani is coming to the US?

MZ: That’s a great question. I have heard everything from “he is here already covertly” to “he is coming on Thursday” I wish I could pin it down exactly. But, he is expected within this week.

Member: in 2022 you said a number of your bond holders had been paid. What do you believe now?

MZ: those were called swaps. They sold to private individuals or “speculators” . We are still waiting for Treasury/UST ect to start purchasing the historic bonds. That’s when we can get excited. But yes…back then there was some “bond flipping” going on.

Member: Are we waiting for any other discernible markers…? We keep hearing everything is ready… but… apparently that isn’t the case?

Member: Mr.C said that everything is going to happen all at once with the flip of a switch!

Member: A while back I put into my calendar that Q F S is fully implemented on Saturday the 23rd. Can’t remember the source but it was calendar worthy

Member: I would love to see a new USN note just to know they are real.

Member: There has been a lot of chatter about the new notes, and a lot of dates that have come and gone, and still nothing :-(. We have heard about bank employees saying they “have it in the vault” but still

Member: WF and other banks are launching a new payment processor called PAZE? Maybe its part of the QFS???

Member: Any updates on specimen sheets for the Iraqi lower denoms? Anyone leak a picture?

MZ: I have not had anyone leak a picture yet. I do have some lower denoms that were released in the Kurdish region…(Mark holds up a few notes) and the plan is to use those temporariy while they distribute the new bills.

Member: Mark, have you heard anymore about us having to pay a 35% tax when the RV happens on the dinar

Member: Frank26 still thinks we will be paying taxes.

Member: Noone will know until we get there I think……Hope for the best but prepare for the worst.

Member: They need to release the reset before Americans are forced to pay the cabal all their Tax money on April 15th….If Whitehats don’t want bad guys to get billions of our dollars….then do it before then !!

MZ: We don’t know everything going on in the background. But we are certainly frustrated with all of it.

Member: All I know is that time is ticking to the point of no return-we need this now!

​​Member: Easter the 31st, Eclipse the 8th ... let's git the show on the road!!

Member: Sunday will be the 33rd Kuwait anniversary.

Member: Thanks to all for encouragement. Just praying it happens soon….But hope and faith are hard to find right now.

Member: Nothing, Nothing, Nothing…then Suddenly.

 THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

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Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

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THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

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.

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