MilitiaMan & Crew News Report-Central Bank Governor of Iraq-Monetary Stability Directly Stimulating the Economy

MilitiaMan & Crew News Report-Central Bank Governor of Iraq-Monetary Stability Directly Stimulating the Economy

10-31-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=lVyzn37EDO4

“Tidbits From TNT” Thursday 10-31-2024

TNT:

Tishwash:  The private sector has begun a new phase

Dr. Murtadha Al-Khafaji, a member of the Iraqi Businessmen Union, stated that the Iraqi private sector has begun a new phase that is different from the previous one, and it has become possible to rely on its capabilities to implement projects.

Al-Khafaji said: The projects implemented by the Iraqi private sector indicate the potential of local effort, which has become comparable to global effort, as local capabilities have been developed during the last decade. He added that Iraqi human resources have gained a lot of experience, through interaction with global expertise, which has worked in more than one economic aspect. He pointed out that national companies must occupy the appropriate place within the local labor market.  link

Tishwash:  Call to establish a digital gold market in Iraq

The economic and financial expert, Dr. Saif Al-Halfi, called for the establishment of a digital gold market in Iraq, the establishment of which requires cooperation between the Central Bank of Iraq, the Securities Commission, and the Iraq Stock Exchange, as it provides Iraqi investors with the opportunity to participate in the global gold market, which attracts additional investments to Iraq, and also enhances cooperation between the Iraqi banking system and international financial institutions.

Al-Halfi said that the Central Bank can issue digital gold bullion in different weights: 1 gram, 10 grams, 100 grams, approved by the government. These digital bullion can be traded on the Iraq Stock Exchange in the same way that stocks or bonds are traded, and through the market’s financial intermediaries system, where investors can buy bullion using local currencies or convert them into foreign currencies. 

He added that the market can be linked to global gold prices and currency exchange rates, which enhances transparency and interaction with the global market. A platform similar to the Forex markets can also be used to trade digital gold inside Iraq in the Iraq Stock Exchange, noting that gold prices will be determined according to global exchange rates for gold and foreign currencies. This will allow investors the opportunity to speculate on gold price fluctuations and link them to changes in global currency prices, which increases profit opportunities and creates many job opportunities.

Regarding the economic benefits, Al-Halfi said: Through this market, liquidity is withdrawn from the banking system, and the digital gold market can act as a tool to withdraw cash liquidity. Instead of keeping money in banks, investors may prefer to buy digital gold, which is a safe asset that maintains its value, protects the investor’s money from high inflation rates, reduces the money supply, which is the goal, and limits inflation.

He pointed out that the digital gold market contributes to diversifying the Iraqi economy, away from the traditional reliance on oil. The market can be a platform to encourage financial innovation and develop new investment tools, especially exploiting the opportunities of the Faw Port entering operation next year, and what it provides in terms of a large base for investors, especially individuals and companies, as well as the goal we seek on the path of development.

He pointed out that establishing a digital gold market requires a strong technical infrastructure, including secure electronic platforms and clear regulatory laws to protect investors’ rights. This will increase job opportunities, the ability to diversify and innovate, and the emergence of a start-up culture.

Al-Halfi explained that the digital gold markets aim to enhance transparency and ease in gold trading, and provide investors with a real opportunity to work, trade and speculate on gold prices without the need to own actual gold. When the investor wants to convert gold into bullion or jewelry, these foundations allow him to convert digital gold into bullion while paying mining and crafting fees. All of these products create real and comprehensive investment business opportunities, which creates and enhances a flexible and innovative investment environment in Iraq. 

Gold is one of the financial assets that has always been a safe haven for investors, especially in times of economic, political and regional turmoil. Here, with the global digital and financial development, new markets have emerged for digital gold trading, where gold can be easily bought and sold through electronic platforms. In light of these developments, it is possible to create a market for digital gold trading in Iraq, especially with the government’s trend towards establishing digital banks and strengthening electronic payment systems, especially the use of electronic payment cards.  link

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Prime Minister's Advisor: Iraq is moving towards strengthening partnership with foreign companies and stimulating investment

The Prime Minister's Representative, Technical Advisor and Head of the Sovereign Loans Initiative, Mohammed Sahib Al-Daraji, confirmed today, Thursday, that the private sector is a fundamental pillar in the government's new economic plan, while pointing to the government's efforts to reduce the transfer of hard currency and support national projects.

Al-Daraji conveyed, in his speech during the first Iraqi Economic Forum, which was attended by the correspondent of the Iraqi News Agency (INA), "the greetings of Prime Minister Mohammed Shia al-Sudani and his support for this conference," explaining that "the Iraqi government has begun taking real steps to support the Iraqi economy, as it has changed the philosophy of the economy that suffered from a lack of clarity in the economic vision for more than twenty years."

He pointed out that "the government is working on a new approach that considers the private sector a fundamental pillar and seeks to integrate its outputs into the national product," noting that "the government provides special support to the investment and business environment sectors, as it seeks to separate direct investment and provide an appropriate environment for the private sector to participate in projects. The government also encourages partnerships with foreign companies to demonstrate developments in the customs and tax system, such as unifying taxes and customs tariffs across regions, and exempting foreign companies from some special taxes."

He pointed out that "Iraq has begun to guarantee the private sector before international financial institutions through the Sovereign Guarantees Initiative, and has moved towards establishing an international market for carbon bonds to support project financing."

He pointed out the "three priorities of the Iraqi economy: localizing industries, integrating with global financial institutions, and developing competencies for the public and private sectors," adding that "the Iraqi market is open to global companies, especially in the construction and clean energy sectors, and that there is a trend to support the private sector through new legislation such as laws to protect intellectual property and partnerships between the public and private sectors."

He added, "The government supports the economy based on partnership with the private sector, with a focus on reducing the transfer of hard currency abroad.

He expressed his "hope that these conferences will produce outcomes that support the current government's orientations, which is the most attentive to the private sector and the most involved in decisions," noting "the presence of representatives from the private sector on the Development Fund's Board of Directors and within the Prime Minister's official delegations as a message of support for businessmen  link

Mot.. ""Opal"" Loves October - cause ~~

Mot:  . He Knew She Knew - that He Knew She Knew - so He .....

Mot:  ... You Can Use Him fer 2 Months or More!!! 

Iraq Economic News and Points To Ponder Thursday AM 10-31-24

The Arab Accounting Dinar: A Strategic Tool For Arab Economic Integration

 October 30, 2024 Last updated: October 30, 2024 

  Hussein Al-Falluji*   In light of the growing economic challenges facing Arab countries,   the role of the Arab Accounting Dinar is emerging as an important strategic tool that may contribute to enhancing economic integration and providing effective solutions to common Arab problems.

 Perhaps many followers of Arab affairs are unaware of the existence of the Arab Accounting Dinar,  this important economic tool that can play a vital role in promoting economic integration and providing effective solutions to common problems among Arab countries.

Some people wonder about the reasons for not activating this vital project optimally, despite the great opportunities it provides for achieving financial stability and economic prosperity.

The Arab Monetary Fund relies on the Arab Accounting Dinar as the official base currency, which differs from the currencies circulating in Arab and international markets.

 The arithmetic exchange rate of the Arab dinar was fixed at the equivalent of three units of Special Drawing Rights specified by the International Monetary Fund.

 Special Drawing Rights are an international reserve asset created by the International Monetary Fund in 1969 to supplement the official reserves of member states.

 The value of these rights is determined based on a basket of five major international currencies: the Chinese yuan, the US dollar, the European euro, the Japanese yen, and the British pound.

 This link to a basket of strong currencies gives the Arab Accounting Dinar relative stability and reduces the risk of global exchange rate fluctuations, enhancing confidence in it as an instrument of financial exchange.

The use of the Arab Accounting Dinar can contribute to facilitating commercial and financial operations between Arab countries, as

 it provides a common monetary unit for settling transactions, which may reduce currency conversion costs and increase the efficiency of financial systems.

This unification helps promote intra-regional trade, opens new horizons for economic cooperation, and stimulates growth by expanding markets and facilitating the movement of goods and services.

 In addition, the Arab Accounting Dinar represents a step towards greater financial independence for Arab countries.

 By reducing dependence on foreign currencies, Arab countries can better control their monetary policies and mitigate the negative effects of global economic fluctuations.

This enhances the ability to plan financial and investment with greater confidence, supporting sustainable development and investment in vital projects and infrastructure.

 The widespread use of the Arab Accounting Dinar may also open new opportunities for joint investment among Arab countries.

 It facilitates the financing of major regional projects and enhances cooperation between Arab financial institutions.

By providing a stable and unified financial environment, Arab countries can coordinate their financial and investment policies, which enhances the competitiveness of Arab economies at the international level.

 Moreover, the Arab Accounting Dinar reflects a collective commitment by Arab countries to achieving integration and unity.

It is not just an economic tool, but a symbol of cooperation and solidarity in facing common challenges.

 This commitment strengthens confidence among member states and paves the way for further cooperation in other areas such as education, health and culture.

 Although there may be challenges to promoting the use of the ABD, such as the need to modernize financial infrastructure and coordinate monetary policy, the potential benefits make it an essential investment for the future.

Political will and joint cooperation are the basis for achieving success in this endeavor and overcoming obstacles to achieve the desired economic integration.

 In conclusion: Activating and adopting the Arab Accounting Dinar represents a real opportunity for Arab countries to enhance economic integration and achieve common prosperity.

By expanding the use of this unit of account and activating the proposals supporting it, Arab countries can build a more stable and prosperous future for their people, based on economic cooperation, solidarity and unity.

 * Independent politician  

 https://www.xe.com/currencyconverter/convert/?Amount=1&From=XDR&To=USD

 1.00 IMF Special Drawing Rights = 1.3302209 US Dollars

1 USD = 0.751755 XDR

https://mustaqila.com/الدينار-العربي-الحسابي/     

The Unfair Decision Of The Central Bank Of Iraq To Reduce Interest Rates For Banks And Issue Securities

Shawan Zangana  2024-10-30 - The Central Bank of Iraq decided, Thursday 10/24/2024, to reduce the annual interest rate between it and the banks registered with it from 7.5% to 5.5%, and to reactivate the work with securities (Islamic certificate of deposit and cash transfers) between it and the banks operating in Iraq, with an annual return of 4% for 14 days, and an annual return of 5.5% for 182 days.

Note that the maximum investment ceiling was set not to exceed 50% of the total private sector deposits with the bank, and that the bank’s investment ceiling in one auction should not exceed (500) billion Iraqi dinars.

What does this decision mean?

The following is understood from this decision:

 1- The Central Bank reduced the interest rate on lending to banks operating in Iraq by 2%, and attributed this to its desire to stimulate local investment, direct liquidity towards alternative investments, develop the national economy, and create stability.

 The Central Bank deliberately forgot to point out that this reduction in the interest rate is for the benefit of the banks, and not for the benefit of companies and individuals, as the banks do not, based on the Central Bank reducing the interest rate in their favor, reduce the interest rates on lending to companies and individuals by the same percentage, so that This support includes them, and liquidity is transferred to development and investment destinations.

 Therefore, it clearly appears that the goal of the central bank is to provide liquidity to some banks, and not to citizens, so that these banks can lend to the influential class around them and smuggle currencies abroad.

 This procedure will provide banks and financial institutions working with the Central Bank of Iraq with great liquidity to practice interest trade (carry trade), as

these banks will be able to employ the funds borrowed from the Central Bank, at a low interest rate, by depositing them with international financial institutions, in exchange for annual returns, and at high interest rates. (For example, Turkish banks pay annual interest of up to 50% on deposits), and

thus, these banks will reap huge profits, and with the money of the Iraqi people stored in the Central Bank, Without using their own financial assets, these banks will also seek to employ the funds borrowed from the central bank in speculation in global markets and stock exchanges, with the aim of reaping quick and abundant profits.

 This investment of central bank funds by banks will inevitably harm the Iraqi economy, which suffers from structural dysfunction and chronic fragility, not to mention that this investment of money is forbidden by Sharia, which is, at the same time, a door to usury, not because of interest, but because of trafficking. With it.

2- The Central Bank has issued securities, in the form of Islamic certificates of deposit and cash transfers, with fixed and specified returns and terms, and attributed this to its endeavor to provide a window for banks under US Treasury sanctions, which are unable to deal in dollars, and have large cash liquidity in Iraqi dinars.

To invest the surplus local cash it has with the Central Bank, through its possession of Islamic certificates of deposit and cash transfers, in order to reap lucrative financial returns, while

 it was necessary to The Central Bank is to punish these banks for their legal and ethical violations, and not reward them with financial returns from public funds and from citizens’ rights.

3- Government borrowing through the issuance of sovereign bonds is considered one of the central bank’s monetary policy tools, but at the same time it indicates that the Ministry of Finance is suffering from a shortage of cash liquidity in the local currency, and this leads us to the following question:

 Why is the Ministry of Finance suffering from A shortage in the monetary supply in the local currency, despite the cash issuance that exceeded 100 trillion Iraqi dinars?

 The answer may be that there is a large monetary mass in the local currency outside the banking system, and that a portion of it is circulated at home and abroad for the purposes of financing smuggling operations.

Implications Of This Decision

This decision will have the following effects:

 1- The decision will lead to an increase in the exchange rate of the dinar towards the dollar and other currencies, but temporarily, as the demand for the Iraqi dinar will increase, and

this will cause an increase in its exchange rate, but it will soon move towards a decline towards the dollar, as a result of operations to exchange it for the dollar, for the purposes of smuggling or employment. External cash.

 2- This decision will provide large liquidity to banks and financial institutions, which will be exploited to carry out financial transactions outside the development process, with the aim of reaping huge and quick profits.

 The Iraqi economy will be exposed to serious damage, as a result of wasting its money and using it by an influential faction to achieve its own interests at the expense of the people, in When the central bank was supposed to reduce the interest rate, on the condition of implementing development projects, and allowing banks to borrow from it, within the scope of the files that individuals and companies submit to local banks, in order to prevent these banks from exploiting these funds for their own interests, outside the development process.

 3- This decision, in this form, is a waste of public money, a violation of the rights of citizens, and an economic crime, punishable by law. The Central Bank of Iraq should avoid such decisions, which are economically harmful and forbidden by Sharia.

 4- This decision, and similar decisions taken by the Central Bank, have caused, and are causing, the deepening of the imbalance and fragility in the Iraqi economy and its monetary policy, and the prolongation of monetary fluctuation and instability.

 Conclusion

It appears that the decision to reduce the interest rate was taken and designed in accordance with what the interests of the ruling class over money in Iraq require, and not in accordance with the interests of national development and the future of the rentier Iraqi economy, which needs financing to diversify its sources of income.

 It also appears that the securities are designed to achieve the interests of the sanctioned banks. By the US Treasury, while it was supposed to punish her and cancel her vacations, instead of rewarding her by providing her with lucrative profits from the central bank.

 I warn the Central Bank of Iraq against making decisions that harm the currency and deepen its wounds, and

 I call on it to conduct an orthodox policy that is consistent with the principles of economics and monetary policy, and to avoid formulating policies or making decisions that contribute to achieving the interests of powerful fragmentation in the country and abroad.    https://shafaq.com/ar/مقـالات/قرار-البنك-المركزي-العراقي-الجا-ر-بخفض-سعر-الفا-دة-للمصارف-و-صدار-ال-وراق-المالية    

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Thursday Morning 10-31-24

Good Morning Dinar Recaps,

SOME EU STATES UNHAPPY WITH ECB CONTROLLING DIGITAL EURO LIMITS – REPORT

Politico reported that some European states, including Germany, France, the Netherlands and six other countries, are concerned about the European Central Bank (ECB) having the right to specify holding limits for the digital euro central bank digital currency (CBDC).

A concern is that the ECB could set the wallet limits too high, resulting in deposits flowing out of banks. One diplomat called it a “battle for power” between central banks and politicians. 

An opposite worry is that the limits might be viewed as inhibiting financial freedoms and hence a Big Brother move. A related concern is that the digital currency could be out of touch with consumer needs and not adopted.

While the EU’s treaty gives the ECB certain privileges, the digital euro will have its own legislation, which has yet to be passed. 

Before the recent European elections, several amendments were proposed to a draft. Politico viewed the notes of one of the meetings, which showed that nine countries objected to the ECB deciding on wallet holding limits.

If the ECB sets the holding limit, it views this as preserving any decision from political pressures.

How would digital euro holding limits work?
A couple of key points were not covered in the Politico piece. Firstly, the whole point of the digital euro is to create a pan European payment system in an attempt to dislodge the dominance of non-European players such as Visa and Mastercard. While SEPA may be pan European, it is purely a backend solution. Hence, it seems logical that there needs to be a single limit for the entire EU block.

If the ECB doesn’t get to decide, how would it work practically? An annual vote on limits?

Messy waterfalls
The messier point is the implementation of the holding limits. If the holding limit is €3,000 and someone receives money that pushes the balance over, then any excess funds will be swept into a bank account.

On the other hand, if someone makes a payment and doesn’t have enough digital euros in their wallet, it can automatically pull the money from the connected bank account. These are the waterfall and reverse waterfall functions.

This has a few implications. At a practical level, some people like to keep tabs on how they spend money. If there’s a lot of movement between your bank and the digital euro wallet, that gets rather messy and hard to track. A lack of visibility also helps fraudsters.

Changing tack, one of the potential advantages of a CBDC is it could provide super efficient payments. However, with the waterfall and reverse waterfall, some payments could have three payment legs: the sender doesn’t have enough funds so it pulls money from their bank; the CBDC payment; and the recipient now has too much in their wallet, so that’s swept into their bank account.

That’s why several countries believe there will be pressure to provide higher limits, so there’s less need to use the waterfall functionality.

Some have noted that the waterfall also requires all banks in the EU to support real time payments 24/7, involving significant work. However, EU instant payment regulations were adopted earlier this year, so that will be a requirement with or without the digital euro.

Debates around setting the holding limit
In one of the more recent legislative proposals, it was suggested that banks and payment providers could set the limits themselves. The Dutch central bank published a digital euro paper concluding that holding limits would be critical, especially during the transition phase.

 Another report commissioned by the European Banking Federation found a €3,000 limit with a 40% takeup would increase bank funding costs by €8.8 billion.

For its part, the ECB says it would set the limits based on the economic circumstances at launch. However, one of the tasks it’s been working on recently is coming up with a methodology to make the decision.

@ Newshounds News™

Source:  Ledger Insights

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STABLECOINS WILL THRIVE OVER CBDCS: CIRCLE CEO

Jeremy Allaire believes most governments are open-minded toward crypto and stablecoin regulations.

Speaking at the current Binance Blockchain Week in Dubai, the CEO of Circle, the issuer of the second-largest stablecoin, expressed optimism regarding global regulation toward the sector.

He also asserted that people would prefer privately-issued stablecoins over government-launched CBDCs, which has been evident in China.

Allaire spoke a lot about the current regulatory environment in numerous countries and outlined the overall positive sentiment coming from most. In fact, he noted that even those who have been publicly against the sector or sitting on the sidelines, are actually watching carefully what others would do and are ready to follow suit with comprehensive regulations.

He believes the next 12 months will be crucial for the stablecoin space, which has already grown to roughly $170 billion, with Tether’s USDT and Circle’s USDC responsible for the lion’s share.

However, Allaire noted that this is still a fraction of the global financial space, which is hundreds or even thousands of times larger. This means that the stablecoin industry still has lots of room for growth.

On the question whether the majority of global population will prefer central bank digital currencies or stablecoins, Circle’s CEO was adamant that they will go for the latter.

This is because people prefer privately-issued products and the innovation coming from them, rather than government-backed alternatives.

He outlined China as a good example. The world’s most populated nation launched its own CBDC a few years ago, but is yet to see actual usage, according to Allaire. He said people only use it once the government provides free coupons.

@ Newshounds News™

Source:  CryptoPotato

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🌱TOP QUESTIONS ABOUT EXCHANGING FOREIGN CURRENCY ANSWERED! SOWT   |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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News, Rumors and Opinions Thursday AM 10-31-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts fro the Restored Republic via a GCR: Update as of Thurs. 31 Oct. 2024

Compiled Thurs. 31 Oct. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Wed. 30 Oct. 2024 Wolverine: Looks like this is it everyone! 

Things have started in certain places. Some Bond Holders have already got notifications with appointments on Monday. Some Bond Holders already have notifications for tomorrow. 

Tier4b (us, the Internet Group) should be getting notifications for the currencies today Wed. 30 Oct, from 6 pm RENO time onwards. 

All needs to be done before the election.

I have been assured all is ready to go 

I received this info from Brazil Tues. 29 Oct. 2024: Tier4B internet group is officially active. It is a great honor to announce the Launch of the Tier4B internet Group. The use and unification under Tier4 ensure that all systems are flawless.  

We are waiting for the determination of the Wells Fargo National Bank Association, which is the guardian of these resources. Miguel Ribeiro is one of these people. The release of funds by the BC, requires authorization determination by Wells Fargo Bank which can happen at any time. The authorization has already arrived since 4 pm and all good to go from tomorrow (October 30, 2024).

I received a call from a close friend of mine and things are moving on his side, and hopefully, we will get 4B notifications.

Wed. 30 Oct. 2024: Tier4b funds released in Brazil.

On Fri. 1 Nov. 2024 Texas, the possible site of the new US Republic Capitol, was going to gold-backed currency.

On Wed. 30 Oct. 2024 Joanna Morning Star: “I was on the phone with Chief Fast Horse and his guest, Robert.  Chief Fast Horse was driving to a private plane hangar they have in Santa Barbara to then fly over to the Hopi reservation in Sedona, Arizona.  So yeah, this is cool. Humanitarian work is commencing.  Chief says the RV would never work when the US was a corporation.  He says they are now dispersing the funds because we are in the new Republic. Wanted to share the good news.” 

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Global Financial Crisis:

Wed. 30 Oct. 2024 US Banks were sitting on $750 Billion in Real Estate losses, seven times larger than total during the Global Financial Crisis.

Wed. 30 Oct. 2024: The U.S. Treasury plans to borrow nearly $1.4 trillion over six months, with $546 billion from October to December and $823 billion from January to March next year, reflecting rising debt and fiscal challenges. With the national debt nearing $36 trillion and interest payments consuming a growing share of federal revenues, economists warn the debt outlook remains uncertain, with no stabilization expected by 2029.

Read full post here:  https://dinarchronicles.com/2024/10/31/restored-republic-via-a-gcr-update-as-of-october-31-2024/

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

Frank26  [Iraq boots-on-the-ground report]   FIREFLY:
CBI saying they have plans in place to cancel out the dollar auctions soon because there is still corrupt in these transaction.   FRANK:  That is correct.  Sudani is removing the auctions from the CBI because that's where all the stealing was occurring. The auctions will no longer be in the control of the banks but in control of Sudani of the GOI...Sudani is not playing any more games. You are about to have your purchasing power as he promised you...

Mnt Goat  Remember about the Cash Center that recently opened to receive the stashes and hordes of dinars. The first point is these were dinars NOT dollars...These are NOT exchange centers. They are simply depositing their hoards of dinars in the bank and putting them into electronic form...They are staying in dinars, NOT U.S. dollars... these centers  show us some success of just the beginning stages of the process to delete the zeros. This is part of the process is to collect  these stashes of notes. These are not only needed for liquidity in the banks but also to coincide with the shrinking of the monetary mass that is needed to raise the rate of the dinar, when they do pull the trigger on the higher “official” CBI rate in- country.  

Putin Pushes For NEW International Payment System: What Is It And How Does It Work?

GeoFlux:  10-30-2024

In a bold move, Russian President Vladimir Putin is pushing for a new international payment system that could potentially reshape the global economic landscape.

The proposed BRICS Pay System, backed by the expanding BRICS group, aims to challenge the dominance of the US dollar and provide an alternative to the Western-controlled SWIFT system.

Built on blockchain technology, this system promises faster, cheaper, and more secure transactions in member nations' currencies.

The development of the BRICS Pay System is part of a broader trend of de-dollarization, as countries seek to reduce their reliance on the US dollar in international trade. This shift could lead to significant changes in global trade patterns, financial power dynamics, and economic governance.

While the BRICS Pay System faces significant challenges, such as economic disparities among member nations and regulatory hurdles, it presents intriguing opportunities for investors.

As the global financial landscape evolves, staying informed about these developments will be crucial for navigating the future of international finance.

https://www.youtube.com/watch?v=DuNPj0FBWPU

MilitiaMan & Crew News Reporting-Security & Stability-Sinjar Allocations-Unprecedented Developments

MilitiaMan & Crew News Reporting-Security & Stability-Sinjar Allocations-Unprecedented Developments

10-30-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=C44Lh9B-tec

Iraq Economic News and Points To Ponder Wednesday Evening 10-30-24

Continuing Talks Between The Kurdistan Regional Government And The Federal Government To Resolve Outstanding Issues

Kurdistan Region President Nechirvan Barzani discussed on Wednesday morning with Iraqi Parliament member and head of the Azm Alliance parliamentary bloc, Muthanna al-Samarrai, the general situation in the country, in addition to the Kurdistan Parliament elections and relations between Erbil and Baghdad, as well as the upcoming general elections in Iraq.

During the meeting, al-Samarrai congratulated President Barzani on the success of the Kurdistan Parliament elections, according to a statement issued by the presidency of the region.

During the meeting, both sides praised the ongoing talks between the Kurdistan Regional Government and the federal government to resolve outstanding issues, as they agreed that addressing these issues benefits Iraq as a whole and enhances the country's stability.

In another context, the risks resulting from the complex situation in the Middle East region were discussed, as they stressed the need for Iraq not to get involved in regional conflicts and disputes, and to work to spare the country their repercussions.  https://www.radionawa.com/all-detail.aspx?jimare=40009

Al-Alaq: The Volume Of Currency In Circulation Exceeds 100 Trillion Dinars.

Banks   Economy News – Baghdad   103 views  Added 10/30/2024 -- Al-Alaq: The volume of currency in circulation exceeds 100 trillion dinars.   https://economy-news.net/content.php?id=49311

Monetary Policy Price And Reactivation Of Securities
 
October 30, 2024     Based on monetary policy trends to enhance access to targeted inflation rates 
     in a way that does not conflict with expected economic growth rates, and
     is consistent with the policy of developing deposits and increasing credit ratios aimed at targeting projects,  relying thus on following the approach based on data obtained from the banking sector ..

For more click here    https://cbi.iq/static/uploads/up/file-173027681336323.pdf   
 
https://cbi.iq/news/view/2703 
 
~~~~~~~~~~ 
(approximate & incomplete translation of https://cbi.iq/static/uploads/up/file-173027681336323.pdf)  
 
DATE:  30/10/2024  (Population Census... the Pillar of Development)
Exchange Companies for the Art (4)
 
M/ Opening Branches    M/ Monetary policy rate and reactivation of securities
 
Based on the monetary policy orientations in enhancing access to targeted inflation rates in a manner that does not conflict with the expected economic growth rates, and is consistent with the policy of developing deposits and increasing credit ratios aimed at targeting projects, relying on the approach based on data obtained from the banking sector, the Board of Directors of this bank decided the following:-
 
1. Reducing the monetary policy rate to be (5.5%) instead of (7.5%).

2. Reactivating securities (Islamic certificates of deposit; traditional transfers) according to an annual plan and with two terms:
     A. Term (14) days with a return of (4%).
     B. Term (182) days with a return of (5.5%).

3. The maximum investment limit shall not exceed (50%) percent of the total private sector deposits at the bank, which are sent to the Open Market Operations Office via the weekly liquidity management form within the system (BSRS), where data received two weeks before the auction implementation date will be approved. In case the bank exceeds the percentage set above, it will be deprived of the auction return.

4. The bank's investment ceiling in a single auction shall not exceed (500) billion dinars.

5. For further inquiries, you may contact the office via e-mail (omo.office@cbi.iq).
 
With appreciation.
Attachments:-
- Auction issuance plan for (14) days.
- Auction issuance plan for (182) days.

Al-Sudani Discusses With The Commander Of The NATO Mission In Iraq Ways Of Cooperation In Light Of The End Of The International Coalition Mission

Wednesday 30 October 2024 18:05 | Politics Number of readings: 125  Baghdad / NINA / Prime Minister and Commander-in-Chief of the Armed Forces Mohammed Shia al-Sudani discussed with the Commander of the NATO Mission in Iraq, Lieutenant General Lukas Schweizers, ways of cooperation in light of the end of the international coalition mission.

The Prime Minister's media office said in a statement: "Al-Sudani met today with the Commander of the NATO Mission in Iraq. During the meeting, ways of security and military cooperation between Iraq and the alliance countries were discussed, in light of the end of the mission of the international coalition to fight ISIS in Iraq."

Al-Sudani was briefed on the outcomes of the high-level meeting between Iraq and the alliance, which was held in Brussels last August, and directed the formation of a joint committee between the two sides, headed by the Iraqi side by the National Security Advisor, to discuss all frameworks of cooperation.

The Prime Minister stressed Iraq's desire to move to bilateral cooperation with the alliance countries that participated in the international coalition, and to enhance the areas of training and joint advice with the Iraqi armed forces, especially after the Iraqi forces have acquired advanced levels of technical and field effectiveness.

Al-Sudani also touched on the developments in the security situation in the region, with the continued Zionist aggression on Gaza and Lebanon, its threat to regional peace, and its attempts to expand the conflict, reiterating the importance of international and UN organizations and major countries assuming their roles and responsibilities towards stopping the aggression and preventing the genocide of the steadfast Palestinian people. /  https://ninanews.com/Website/News/Details?key=1165272  

Ministry Of Justice: Completing The Electronic Documentation System And Canceling The Validity Of Paper Issuances Of Agencies

Buratha News Agency1662024-10-30   The Ministry of Justice announced today, Wednesday, the completion of work on the electronic documentation system and the cancellation of the validity of paper issuances of agencies in all notary public departments in Baghdad and the governorates.

The ministry stated in a statement that "based on the directives of the Minister of Justice, Khaled Shawani, to rely on modern technologies in the work of the judicial departments, and in cooperation with the General Secretariat of the Council of Ministers, the Notary Public Department announced the completion of work on the electronic security code system (QR) for all agencies and in all departments affiliated with it in Baghdad and the governorates."

The ministry quoted the Director General of the Notary Public Department, Youssef Hawiz Khorshid, as saying, "All 178 notary public departments in Baghdad and the governorates have been fully equipped with the requirements for working with the barcode system in order to achieve a complete transition to digitization in the department's work."   https://burathanews.com/arabic/news/452191

Basra Crude Continues To Decline

Wednesday 30 October 2024 | Economic Number of readings: 188   Baghdad / NINA / Basra Heavy and Basra Medium crude prices witnessed a decline, despite the stability of global oil prices.  Basra Heavy crude prices fell by $1.79 to reach $66.01, and Medium crude prices fell by $1.79 to reach $69.16.

Oil prices stabilized during Asian trading on Wednesday, after industrial data showed a surprise decline in crude and gasoline inventories in the United States, after losses in the previous two sessions due to the possibility of a decline in the intensity of the conflict in the Middle East. / End9 https://ninanews.com/Website/News/Details?key=1165160

Rafidain Bank Studies Establishing An Electronic Platform For Trading Government Bonds

Banks  Economy News – Baghdad   Rafidain Bank confirmed, on Wednesday, that it is studying the establishment of an electronic platform for trading government bonds.

A statement by the bank received by "Al-Eqtisad News" stated: "Under the direct supervision of the Minister of Finance and the Governor of the Central Bank of Iraq, Rafidain Bank sponsored an expanded meeting in cooperation with the Securities Commission and the Iraq Stock Exchange to discuss launching an electronic platform for trading government bonds.https://economy-news.net/content.php?id=49303

Customs Announces A Significant Increase In Trebil Port Revenues After Linking It To The ASYCUDA Program

Trebil border crossing between Iraq and Jordan   Money and business  Economy News – Baghdad  The General Authority of Customs confirmed, on Wednesday, that linking the Trebil port to the global ASYCUDA program has reduced cases of smuggling, manipulation and forgery, while indicating a significant increase in the port’s revenues.

The Director of the Trebil Border Customs, Asim Hamid Al-Shawka, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the Trebil port is a commercial and vital port and one of the most important ports in the western region in terms of revenues and exports that pass through it", noting that "it is a link between the Hashemite Kingdom of Jordan and the world through the port of Aqaba."

He added that "the reasons for the increased flow of commercial traffic inside the port are due to the ease of work there and the facilities it provides in accordance with the controls and instructions," noting that "this has made most traders import their goods through the Trebil border port."

Al-Shawka explained that "the movement of travelers from Iraq to Jordan is witnessing large numbers of travelers entering and leaving from Iraqis, Arab tourists and foreigners," indicating that "the credit goes to all the security forces that secured the expressway that connects the port to Anbar Governorate, reaching Baghdad and the rest of the governorates of Iraq."

He continued: "All goods are imported through our center from various global origins, the most important of which are food, agricultural fertilizers, dyes, construction materials, human medicines, veterinary medicines, medical supplies, agricultural materials and cars,"

noting that "our center is distinguished by a transit line for transporting goods from various countries of the world through Iraq to neighboring countries, and various Iraqi products are exported through it to the Hashemite Kingdom of Jordan and the rest of the world, the most important of which are soft drinks, juices, dates, asphalt, furniture and other Iraqi products."

He pointed out that "a crude oil pipeline passes through our center to the Hashemite Kingdom of Jordan, and based on the directives of Prime Minister Mohammed Shia Al-Sudani and Minister of Finance Taif Sami, and under the direct supervision of the Director of the General Authority of Customs Hassan Hamoud, the port was linked to the global ASYCUDA program, which enhanced the reduction of cases of smuggling, manipulation and forgery, and led to a significant increase in revenues over previous years."

He pointed out that "cases of smuggling food items unfit for human consumption were monitored and destroyed, and the smugglers were referred to the judiciary to receive their just punishment," explaining that "this success was achieved through cooperation between the General Authority of Customs, represented by the Trebil Customs Center, and the Border Ports Authority and all supporting departments in terms of the mechanism for exchanging information.

We must not forget the Anbar government, represented by the Anbar Governor and the Chairman of the Provincial Council, with their unlimited support for the Western Region Customs Directorate and the ports affiliated with the Western Region."   https://economy-news.net/content.php?id=49310

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Wednesday Evening 10-30-24

Good Evening Dinar Recaps,

STABLECOINS BOOSTING DEMAND FOR US T-BILLS: TREASURY DEPT

The United States Treasury Department is taking an interest in stablecoins and tokenization.
Stablecoins seem to be increasing demand for short-term United States government bonds known as Treasury bills, according to US Department of the Treasury meeting minutes published Oct. 30.

In an Oct. 29 meeting, the US Treasury’s Borrowing Advisory Committee weighed the benefits of stablecoin adoption and Treasury bill tokenization, with one member suggesting the US create a permissioned blockchain for T-bills, the minutes said.

The comments are the latest from US government officials indicating a nascent openness to meaningfully integrating blockchain technologies into the US financial system.

“[B]ecause most stablecoin collateral reportedly consists of either Treasury bills or Treasury-backed repurchase agreement transactions, the growth in stablecoins has likely resulted in a modest increase in demand for short-dated Treasury securities,” one Committee member said, according to the minutes.

The committee said T-bill tokenization “could lead both to operational improvements and to innovation in the Treasury market” but could also pose risks to financial stability.

One member suggested that “tokenization in the Treasury market would likely require the development of a privately controlled and permissioned blockchain managed by a trusted government authority.”

Stablecoins — tokens pegged to the US dollar — are emerging as the core infrastructure for trading and payments.

Total stablecoin market capitalization hit record highs in 2024 and now approaches $180 million, according to CoinMarketCap.

Tether USDT dominates among stablecoins with a market capitalization of $120 billion.

Circle’s USD Coin USDC is a distant second, with a market capitalization of approximately $35 billion, according to CoinMarketCap.

Meanwhile, tokenized real-world assets (RWAs) — from Treasury securities to artworks — represent a $30-trillion market opportunity globally, Colin Butler, Polygon’s global head of institutional capital, told Cointelegraph in August.

Demand is surging for products that tokenize T-bills and other highly liquid yield-bearing assets.

Among the largest in terms of assets under management (AUM) are BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and Franklin OnChain US Government Money Fund (FOBXX), with AUM of approximately $530 million and $410 million, respectively.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

A Tax-free Crypto era?
This idea of tax-free crypto transactions has generated buzz among investors and entrepreneurs. If the U.S. is successful in eliminating capital gains taxes on crypto transactions, it could position itself as a global crypto hub. This could attract significant capital from international investors and encourage U.S.-based companies to invest in blockchain and crypto technology.

For an average crypto holder, this could be the start of a new era where crypto can be used as both a payment method and a store of value without further tax concerns.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

RIPPLE NEWS: EX-CTO’S GAME-CHANGING ANNOUNCEMENT COULD REDEFINE XRP LEDGER

▪️ Ex-Ripple CTO Stefan Thomas says he’s working on a new version of Codius, the smart contract hosting protocol that allows more versatility and flexibility.

▪️One expert says this is a big deal for the XRP Ledger as it allows off-chain smart contract execution and cross-ledger
 compatibility.

Stefan Thomas, Ripple’s first Chief Technology Officer (CTO), is developing a new version of Codius, the smart contract protocol he developed a decade ago. This could open up new opportunities for the XRP Ledger.

Today, smart contracts are widespread and easier than ever to write and deploy. However, this wasn’t always the case. Back in the early 2010s, these contracts were still in their early stages and quite rigid. Thomas, who was the CTO of Ripple at the time, set out to change this, and Codius was born.

While it initially launched as a Ripple project, Codius soon gained a life of its own. Essentially, it offers a more versatile and flexible approach to deploying smart contracts, which allows them to run on any blockchain, dApp or server. These contracts can also interact with multiple other ledgers and blockchains, besides the one on which they are deployed.

Codius died years ago, but Thomas—now the CEO of Coil—recently revealed that he is working on reviving it.

Smart contracts have evolved since the days of Codius, and many of the features the team was working on in 2014 can now be found in existing blockchain networks. However, Codius retains some key tech that one expert believes could be vital to the XRP Ledger today.

Could Codius Accelerate XRP Ledger Adoption?
In a thread on X, renowned writer and entrepreneur Max Avery revealed that Codius’s unique features include decentralised hosting, which creates a peer-to-peer network for services, built-in billing, which allows programs to pay for their operations and language flexibility, which allows developers to use the language they are most proficient in.

But why does this matter for the XRP Ledger? Well, according to Avery, integrating Codius’ technology would introduce off-chain smart contract execution, which would reduce the load on the XRP Ledger and allow it to continue processing transactions at high speed.

Codius also comes with cross-ledger compatibility, which would allow dApps on the XRP Ledger to interact with those from multiple other blockchains.

“Codius’s blockchain-agnostic approach enhances versatility, enabling complex decentralized applications and cross-chain operations,” he noted.

Other benefits would include flexible smart contracts and a scalable application layer that distributes the computation load.

He added:  “Codius enhances the XRP Ledger ecosystem by providing off-chain smart contract execution, preserving and potentially increasing XRP’s TPS, and opening up new use cases through interoperability. It’s a significant step forward for the XRP Ledger.”

XRP trades at $0.524, gaining 2% in the past day

@ Newshounds News™

Source: Crypto News Flash  

  ~~~~~~~~~

CENTRALIZED STABLECOINS MAY POSE RISK TO DEFI — CURVE FINANCE FOUNDER

As centralized US dollar-pegged stablecoins continue to gain popularity, the potential for regulatory capture has grown.

The potential risks of overcollateralized stablecoins have recently come into sharper focus. Michael Egorov, founder of the decentralized borrowing and lending platform Curve Finance, argued that these risks are not necessarily the reserve-related risks commonly noted by investors but geopolitical risks posed by government regulation.

In an interview with Cointelegraph, Egorov said that the underlying assets backing collateralized stablecoins, including cash deposits in financial institutions and government securities such as United States Treasury bills, are vulnerable to asset freezes and seizures.

The Curve founder’s answer to these potential sanctions is to achieve maximum decentralization through algorithmic stablecoins, which do not rely on physical cash deposits or short-term cash equivalents:

“If you have something totally decentralized, then it is just software running onchain autonomously, so you cannot really do anything to it, and, in principle, it's still fully trackable.”

“For [the US dollar], keys are never yours. So, that’s a problem,” Egorov stated, before asserting that truly decentralized stablecoins, provide “algorithmic assurance” to investors that their funds won’t evaporate due to asset seizures.

Stablecoins backed by physical fiat assets lack any such guarantee, Egorov told Cointelegraph.

Stablecoins and growing geopolitical risk
The geopolitical risks posed by centralized stablecoins outlined by the Curve Finance founder are a growing concern among industry executives and lawmakers.

On Oct. 25, The Wall Street Journal published a story claiming that USDt
issuer Tether was under investigation by US authorities for allegedly breaking Anti-Money Laundering laws and US sanctions.

Tether CEO Paolo Ardoino denied the claims and outlined the company's reserve assets backing the USDT stablecoin.

During a recent appearance at the Plan B event in Lugano, Switzerland, the Tether CEO also argued that the European Union’s Markets in Crypto-Assets Regulation (MiCA) poses systemic risks for crypto and financial institutions due to banking reserve requirements.

Ardoino explained that the MiCA regulations require stablecoin issuers to hold at least 60% of their deposits in regulated banks, which can lend 90% of those assets to clients and create significant deposit risk for stablecoin firms in the event of bankruptcy or bank failure.

@ Newshounds News™

Source:  Cointelegraph

~~~~~~~~~

🌱TOP QUESTIONS ABOUT EXCHANGING FOREIGN CURRENCY ANSWERED! SOWT   |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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FRANK26….10-30-24……YOU HAVE NO IDEA

KTFA

Wednesday Night Conference Call

FRANK26….10-30-24……YOU HAVE NO IDEA

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

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

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

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

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

https://www.youtube.com/watch?v=ZaNVtLh6AEc

Some Iraq News Posted by Clare at KTFA 10-30-2024

KTFA:

Clare:  Monetary policy rate and reactivation of securities

October 30, 2024

Based on the monetary policy orientations to enhance access to targeted inflation rates in a manner that does not conflict with the expected economic growth rates, and is consistent with the policy of developing deposits and increasing credit ratios aimed at targeting projects, relying on following the approach based on data obtained from the banking sector .. For more click here

https://cbi.iq/news/view/2703

Clare:  What does the closure of the Central Bank platform at the end of the year mean? The Association of Banks explains

10/29/2024  Erbil -

The head of the Iraqi Banks Association, Ali Tariq, said that closing the electronic platform at the end of this year will not affect businessmen and the market for a long time, as they will quickly adapt and the market will return to normal, and the foreign trade process will be enhanced through correspondent accounts, adding that Iraq has 6 banks that have American correspondent banks, and 15 banks that have correspondent accounts with other countries to deal in different currencies.

 Ali Tariq - Chairman of the Iraqi Banks Association, during his attendance at the MERI Conference in Erbil, told 964 Network :

The platform will stop working at the end of 2024, but that does not mean that foreign trade financing will not be enhanced, whether in dollars or other currencies, but the working mechanisms will be different. Previously, the platform compensated banks that did not have correspondent accounts with American banks for the purpose of enhancing the dollar currency. After this year, all transfers will be through correspondent accounts, so the transfer capacity for dollars will be for banks that have correspondent accounts only.

Other currencies will be for banks that have accounts in the country that has that currency. For example, for the euro, the bank must have a correspondent account in a European bank, capable of completing transfers.

Therefore, the platform's downtime is not a cessation of work, but rather a transition to new work mechanisms.

There will be some changes in the market but they are temporary because businessmen have to adapt to the new mechanisms that are within international standards.

We have 6 banks that have accounts in US banks, which will be able to transfer in dollars, and other banks that will cover other currencies.

More than 15 banks are able to transfer, as they have accounts in the main countries from which Iraq imports, such as the Emirates, China, India, Turkey, and the Euro, and there are other currencies.  LINK

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

Clare:  Announcement of the auction of the Central Bank of Iraq’s remittances, numbered (B319), with a term of (14) days

October 30, 2024

We would like to inform you that the Central Bank of Iraq’s remittance auction numbered ( B319 ) has been announced with a deadline of (14) days, and the auction execution date will be on Sunday, 11/3/2024, according to what was published in the Central Securities Depository System ( CSD ) and our circular numbered 371/34 on 10/24/2024, and traditional banks can participate and submit starting from the date of publication of the announcement until the execution day.

* Note that the data used to determine the investment size (50% of private sector deposits) is according to the form dated 10/17/2024, which was submitted during the period 10/20-23/2024 via the BSRS system .

https://cbi.iq/news/view/2702

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

Clare:  Officially.. Parliament elects its Speaker tomorrow (document)

10/30/2024

The Iraqi Parliament published the agenda for tomorrow's session, Thursday, and allocated it to electing a new speaker of the parliament, to succeed Mohammed al-Halbousi, whose membership ended about a year ago.

Last Wednesday, October 23, six Sunni forces, led by the head of the Progress Party, Mohammed al-Halbousi, identified two paths to decide on the election of a new speaker of parliament, after a stalemate that lasted for 11 months.

This came in a joint statement by (Progress, National Masses, Al-Hasm, Iraqi National Project, Al-Sadara, and Al-Mubadara).

According to the statement, these forces confirmed that there are two paths and no third, the first is that all competing parties withdraw their candidates, and that all national forces present commit to supporting the candidate (Mahmoud Al-Mashhadani), who has received the support of the Sunni parliamentary and political majority.

The second option, according to the statement, is to take legal measures in the House of Representatives to nominate a new candidate from the Sunni political majority, supported by a large parliamentary majority, to preserve the right of the Sunni majority to nominate their representative for this position.

On Monday, October 28, the Coordination Framework for Shiite Forces announced an agreement to hold a session to elect a new Speaker of Parliament tomorrow, Thursday.   LINK

Clare:  Qusay Saddam seized $900 million and loaded it in trucks in 2003 - Central Bank Governor

10/30/2024

The Governor of the Central Bank, Ali Al-Alaq, said that the lessons are now sufficient for the state to move towards setting a “strict and conservative” oil price in the general budget, to avoid the pressure of declining crude prices, calling for the enactment of a law that sets the size of spending with a specific oil ceiling to ensure its coverage on the one hand, and to ensure the financing of investment projects on the other hand, noting that the three-year budget needs some new tables and amendments in line with the variables of oil prices.

Ali Al-Alaq, in an interview during the Merry Forum, followed by the 964 Network :

The role of the Central Bank cannot be reduced to the currency selling window and some marginal tasks. It is a fundamental pillar of economic and financial stability in the country. Here we must highlight a number of achievements since 2004 until today, the most important of which is maintaining the general price level, meaning the ability to manage the monetary mass in Iraq, in a way that does not lead to inflation or deflation.

After 2003, we inherited an abnormal situation devoid of any real basis for stability. Our reserves that year were $900 million, and they were seized by Qusay Saddam Hussein and loaded onto a truck. This is documented by dates and numbers. So we started from scratch. The money supply in circulation was only 4 trillion dinars. Today, the volume in circulation exceeds 100 trillion dinars, and our reserves have exceeded 100 billion dollars.

The inflation rate today is 3.8%, which is a typical rate that achieves stability and prosperity. It is an indicator of our ability to manage a monetary mass exceeding 104 trillion dinars, which does not allow pressure on purchasing power, and this is considered the most important factor in monetary and economic stability.

We have an additional mission, as we have to introduce all the tools, systems and entities that we have failed to catch up with the world with during the previous decades, and therefore there is a race against time to move towards the digital economy and advanced payment systems, as we have licensed 16 companies for electronic payment, and we are currently working on licensing digital banks, in addition to achieving advanced stages in establishing a national company for managing payments, and the Central Bank will be a partner in it to enhance it with sufficient support.

As for the reform dimension, we are currently working on two plans to reform government and private banks, which will lead to their restructuring in a way that ensures transparency, governance, and ownership structure in appropriate ways, to be consistent with international standards.

The last dimension of our work, which is not practiced by most central banks in the world, is that we work to stimulate the economy directly through lending initiatives to various sectors. The volume of loans granted to the construction and industrial sectors has reached more than 13 trillion dinars, an amount that exceeds what has been lent throughout the history of the Iraqi state. In addition, we have sought to launch initiatives to lend to small and micro-enterprises, and we have reached advanced stages of establishing a bank specialized in this initiative, and we have named it “Riyada” Bank.

We noticed that the inflation rate in 2023 was 7.5%, as the volume of issued currency jumped from 40 trillion to 100 trillion dinars, meaning that it increased in two years by an amount equivalent to its increase in the previous 18 years, and therefore we decided to withdraw part of the cash liquidity by raising the interest rate and attracting trillions of dinars from the market, although this measure is costly, but the Central Bank does not base its policies on profit and loss, but rather on the basis of performing its main function of controlling the market.

The increase in public debt is a result of the budget deficit, which is the result of increasing spending without increasing revenue. Over time, spending has become inflexible and cannot be reduced, such as the salary bill and others, and this causes a structural imbalance in the Iraqi economy.

The idea of ​​the three-year budget is in effect in many countries of the world, and we decided to move towards it in order to ensure stable implementation, although it requires the issuance of some tables and amendments to address some variables, such as oil prices, for example.

The fiscal year will end and the oil price rate remains within our estimates in the budget, but the lessons have become sufficient for us to set a conservative oil price so that the state does not face economic pressure with the fluctuations of the global oil market. Therefore, a law must be passed that sets the share of expenditures from oil revenues with a certain ceiling, in order to ensure that it is covered on the one hand, and to ensure that the financing of investment projects that are exposed to blows with every drop in oil prices is not disrupted in order to cover the expenditure ceiling.   LINK

Bruce’s Big Call Dinar Intel Tuesday Night 10-29-24

Bruce’s Big Call Dinar Intel Tuesday Night 10-29-24

Transcribed By WiserNow Emailed To Recaps

Welcome everybody to the big call tonight. It's Tuesday, October 29TH  and you're listening to the big call. Thanks everybody once again for joining us tonight – wherever you're located all around the globe. You could be anywhere, because our call gets out to an average of over 18 or 18 and a half million listeners every Tuesday and Thursday night, and we're pleased to have the satellite team that gets the call transmitted over the Star Link satellite system with permission of the United States Space Force.

So thank you for that, and thank you everybody that's tuned in through free conference call, and those of you – and you know who you are, to listen to the big call on the replay, either through the replay link or using the replay number to dial in.

So we're pleased that you're listening however you're getting us and that we can, we can get it out. And I have a lot of important things to share tonight - and I know Sue does, and Bob does as well. So let's do this. Let's pray the call in like we do every Tuesday and Thursday night, and we'll take it from there.

So let's see where we are Intel wise. I'm really excited about this Intel segment, so I'm gonna try the best I can to remember it all and to get it out to everybody. Okay, first of all, let's talk about what I've heard from a really one of our better, one of our best sources out of Iraq. All right, let's go back –

Now - Remember, you guys, the Forex has all the currencies that are more or less, more tradeable, currencies that are being exchanged being traded on and it is up all week long, and goes down at five o'clock on Friday so that they can settle trades that have taken place all week.

And then it comes back up 48 hours later, at five o'clock on Sunday evening. And we see that and we talk about the fact that during that time is something is when new currencies or changes in the rates would come up at five o'clock – or later - on Sunday.

Now we know the Forex can show currencies on any day, any given Sunday, so to speak, anytime other have to be on Sunday at five, but we know that Iraq's first business day of the week is Sunday, and we know that they had  at a new tradable dinar that came up on Sunday at five, and that that currency Since last Sunday was being traded and use for purchases in six countries in the Middle East since Sunday.

So I don't know exactly what the dinar rate is for trading purposes. But you guys might remember years ago, they talked about the Iraqi dinar would be a regional currencies. And there are other currencies that are going to be used regionally, and the dinar was going to be the one that was going to be used in the Middle East, that is, and it will be, at least, for some period of time.

I don't know for how long, really, don't I   Because realize this -  every country is sovereign now, and there are no more central banks around the globe that are being referred to as sovereign banks, like the CBI Central Bank of Iraq is now the sovereign Bank of Iraq. So that's a very positive thing. There's a gentleman named Alok A L, A K, and he was the head of the CBI, which is now the SBI, the sovereign Bank of Iraq.

Okay, so that's a nice, positive move. Well, A Lak - and we believe this is what we believe has happened, ALAK and let's see who the president of Kurdistan, which is the – and I cant think of his name -  is the prime minister of Iraq, which is sudani and Barzani. Thank you, Lord. Barzani is the president of Kurdistan. Kurdistan is a province, but it has its own regional government called the KRG Kurdistan Regional Government.

So at least these gentlemen, if not more, were on a call (with  XXXX – mentioned on live call) who hold these people on a call today – he was suggesting it is time for the healing to begin. Time for healing to begin. And he was suggesting in that call  that we would start the RV Wednesday - the 30th of October, which is tomorrow,

Now that’s what  we've heard from very strong sources in Iraq that have spoken to people who were aware of this, of this call that took place, and we know that some of these people were here  a few weeks ago, pretty much had gone over everything that they needed to talk about -  and we know that some are on their way here now and may already be here, and we Just have that information, I won't get deeply into it but that is really positive for us.

So Iraq, we've always said, was the linchpin to this whole thing going and that we were sort of dependent  upon them getting things done -  the good news is, since Sunday, this past Sunday, the government  of Iraq has paid using the newly revalued dinar back salaries, back pay – we think  contractors as well as retirees at the new dinar rate -  and They have that in their debit cards that they could see and go into and spend.

And obviously, if it's in the United States, which we know some people that are Iraqi Americans, they get the amount and it's converted into dollars.

When is our USN  supposed to show up? We know that our new USN currency, which we, which I call folding money, that goes into wallet money clips versus that is at redemption centers, and has been for a couple of years now, our new money which has nothing about the Federal Reserve on it. It's a US Treasury note, USTN - okay, that is in the redemption centers waiting for us to go and get some new cash if we want it. The new Cash Money. So it's there. It's in place.

So whenever it is that we're to start exchanges and redemption of Zim, that's where that new money would be available to us. The banks should be about the same time. The banks will have it about the same time that we only for our exchanges. In fact, our All right, let me get this right now. --  when we go for our exchanges, we're supposed to have the  notification of- what it's called right now, the system,

The system that’s supposed to get the messages out -  the Emergency Broadcast System, thank you, EBS, E, W S, -  e, w, s, -  EBS -, Early Broadcast System, E, A, S, Emergency Alert System, which is on our phones, - and EWS -  the Emergency Wireless System.

 So those three are going to be connected and used to get out information that will essentially give us cover for when we go in for our exchanges. It should be happening. What I've heard today was it should be simultaneous with the start of our appointments and redemption. It should be at the same time. So we'll look forward to that, that happening

Now – the other thing that we have heard is regarding emails. One of the people that is a contact for us that works in a redemption center had a 12 hour day to day. He was waiting on an email to arrive at eight o'clock tonight. That would have been an hour before the big call started  - and he received that email and had to forward it to three other  redemption centers in his area,  I’m sure  this happened all over the United States.

 This was not a one off. This was something that would have happened all over the country, and maybe in Canada as well. We don't have that confirmed, but I can believe that it probably did go that way.

So what's interesting about it is was  the email was to contain information about tomorrow, around 11 o'clock in the morning. And I don't know if that means a start for us, if that’s when 800 numbers are to go out, but I think it's highly possible that we do get started in some form or fashion tomorrow.

 I believe that was the plan  -  to go into effect now, and that's what the call was with Iraq -  And I believe that decision was set for us to get started tomorrow. And so I'm looking forward to that happening now.

 Does it mean we get numbers? And I said numbers and set appointments? Do we get numbers? Set appointments and  start exchanges, I think it's most likely that we would set appointments for Thursday. I'd say Charlie  Ward’s  Thursday, but that's what it would be Thursday, if we get numbers tomorrow, as indicated - and that we set our appointments tomorrow and go quite possibly starting Thursday, and we'll go right through at least the first 15 or 18 days of November.

 Now it's interesting, as (XXX) said that the healing needs to begin now or tomorrow, essentially, is what was said. The healing needs to start tomorrow, and we know that's going to provide healing in terms of the fund, the funds coming in to heal our land, and heal each other --  everything that we have projects to do all of that. So I'm excited about that possibility. I'm very excited that this is it, that this will happen.

It's not absolute. I hate to say what kids used to say with kids saying same, 100% two words, two things that they say, same  and 100%

I find myself saying that occasionally. So it's not just but what I find interesting is this is what we've been waiting for  and what I was eluding to earlier was I believe this is the time, this same Yes, to our dreams -  our plans, to our projects, to our future – and I am excited about it as usual, and as you should be as well.

Then there's an expression I'm not a fan of, just wait and see, or let's see what happens – all of that we know  - we've heard that forever, and I'm gonna have to say we're gonna have to see what happens tomorrow to find out.  

I don't know that there's any reason to go into too much with anything regarding redemption centers. We know that rates on the redemption center screen are populating -, and that means they're going up, and we know that we have fixed rates on the bank screens.

The Redemption center screens are what we're going to work off of, and it's going to be, I think the rates themselves will be so good, it'll blow us away - especially the contract rate on the Iraqi dinar. They should offer that to us, not at the banks, but only at the redemption centers. Okay, just so you know the difference. So I hope everyone is prepared for this event -  

Thank you Jeannie -  GCK  and everyone in big call universe that has been listening to the big call for 13 years. Thank you for the satellite team or sat in my column that has been getting the has been getting the call out, and doing such a beautiful job to get the call out to everyone, all over the globe, by picking my system, that's been a very beautiful and wonderful thing. So I am going to find my phone and getting the recording then or so, and we'll do that as soon as I can find it. I did this the other day.

All right? What else do I want to say? it's been wonderful to have the opportunity to share with you guys all this time. I really think it's special that we've had the opportunity to do this call to have a platform to get the word out. I appreciate you guys. I appreciate that - and I'm just gonna turn the recording off  -

Bruce’s Big Call Dinar Intel Tuesday Night 10-29-24  REPLAY LINK  Intel Begins 1:13:23

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Bruce’s Big Call Dinar Intel Thursday Night 10-24-24  REPLAY LINK  Intel Begins   1:13:50

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Bruce’s Big Call Dinar Intel Tuesday Night 10-22-24  REPLAY LINK  Intel Begins 1:15:35

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Bruce’s Big Call Dinar Intel Thursday Night 10-17-24  REPLAY LINK  Intel Begins   1:18:55

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Bruce’s Big Call Dinar Intel Tuesday Night 10-15-24  REPLAY LINK  Intel Begins 1:11:00

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Bruce’s Big Call Dinar Intel Thursday Night 10-10-24  REPLAY LINK  Intel Begins   51:11

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Bruce’s Big Call Dinar Intel Tuesday Night 10-8-24  REPLAY LINK  Intel Begins 1:03:35

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Bruce’s Big Call Dinar Intel Thursday Night 10-3-24  REPLAY LINK  Intel Begins   1:08:08

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Bruce’s Big Call Dinar Intel Tuesday Night 10-1-24  REPLAY LINK  Intel Begins   1:14:45

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