"ANALYZING ARTICLE VIII & ARTICLE 14" BY MILITIAMAN, 12 OCT

Militia Man

  Article VIII implicitly states no member may impose without the Fund's approval restrictions on the performance of payments and transfers related to international commercial transactions ...

 Article 14 implicitly indicates if the member is prepared to accept the obligations (which we haven't quite seen yet)...contained in sections 2, 3 and 4 of Article VIII it says thus the agreement encourages the free movement of capital between countries and the transfer of balances between other members...

to facilitate the performance of international payments and work to create a stable exchange rate system which provides the appropriate foreign investments..

.Article VIII...is the freedom of movement of capital.  If you don't have it and you're not released to get it, you're not going anywhere. 

The Central Bank of Iraq, the government of Iraq, the tripartite budget of Iraq - 2023, 24, 25 they haven't spend any money yet...Why ?  

Because they haven't adjusted their exchange rate yet.  Do they need to?  I think they really do...June 12th they passed the trig-part type budget.  It's in the Gazette.  There's no amendments to it.  

If anybody has them, I like to see them...[Gurus] Jeff...Pimpy...Frank26 you guys are welcome to do that.  Let's see if they made any amendments to their budget.  I don't think they have.

Article:  "The Iraqi Central Bank issues a warning to banks regarding dollar deposits." 

 A fresh edict from the central bank...Spelling out that the citizens have the right to redeem their deposits in the banks and that the monies are guaranteed and it is their inherent right to do so through or by the year 2024. 

 None the less the unprecedented crowds ensued...What is unusual is...the way the Central Bank exposed those [banks] that didn't have the money on hand were apparently found to be speculating with depositors funds in dollars. That is not good and there will be consequences.

 The Central Bank is now going to take measures against banks that abstain from taking care of their obligations to the citizens.