STATUS OF THE RV
Saturday, August 5, 2023
"STATUS OF THE RV" BY IQD IRAQ & VND VIETNAM, 5 AUGUST
"IRAQI PARLIAMENTARY FINANCE COMMITTE DISCUSSING SOARING DOLLAR EXHANGE RATE WITH PRIME MINISTER", 5 AUGUST
Iraqi Parliamentary Finance Committee to Discuss Soaring Dollar Exchange Rate with Prime Minister
Shafaq News/ The Parliamentary Finance Committee of Iraq is set to hold an imminent meeting with Prime Minister Mohammad Shia al-Sudani to discuss the reasons behind the escalating exchange rate of the U.S. dollar and the measures the government is taking to address this crisis, a committee member disclosed on Saturday.
"The Parliamentary Finance Committee had hosted a meeting with the Governor of the Central Bank, Ali al-Allaq, to deliberate the causes behind the steep rise in the dollar exchange rate against the Iraqi dinar in the market and the procedures and decisions taken by the Central Bank to handle the crisis," Lawmaker Yehya al-Mohammadi told Shafaq News Agency.
"The committee is set to meet with Prime Minister Mohammad al-Sudani to examine the government's measures and decisions it made to resolve the dollar crisis," he added.
Al-Mohammadi said that "the committee will also host officials from the Ministry of Finance, the Tax Department, Customs, and leaders from security agencies to discuss their measures to curb the smuggling of foreign currency abroad."
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Iraq and Kuwait seek to resolve disputes over maritime border and oilfields
Iraq and Kuwait pledged on Sunday to work towards resolving issues dating back to Saddam Hussein’s 1990 invasion of the oil-rich country.
Top of the agenda at a meeting in Baghdad were the disputes over the maritime border demarcation and joint oilfields.
“We discussed the pending issues between the two sides and we also discussed ways to protect the good relations between the two countries and develop them,” Iraqi Foreign Minster Fuad Hussein said at a joint press conference with Kuwaiti Foreign Minister Sheikh Salem Abdullah Al Jaber Al Sabah.
The technical-legal committee on the maritime border will meet in Baghdad on August 14, followed by a delegation visit from Kuwaiti Oil Minister Saad Al Barrak on September 10.
“There were extensive discussions on the [maritime border] issue and both sides expressed their opinions and agreed to continue discussions,” Mr Hussein said.
A supreme committee linked to Iraqi Foreign Ministry will lead the discussions and supervise all other subcommittees, he added.
Sheikh Salem hailed Sunday's discussions as “very fruitful, reflecting the deepness of the strong bilateral relations between our countries”.
“We are determined to work hand-in-hand to develop these relations and to develop and push them to new horizons,” he said.
Both countries realised the importance of solving the issues and “on top of them the issue of ending the maritime border demarcation”, he said.
The land border between the two neighbours was demarcated by the UN after the Iraqi army was pushed out of Kuwait. But the maritime boundary was left for the two sides to resolve.
Since the 2003 US-led invasion that toppled Saddam, both countries have been meeting to resolve this and several other issues, with little progress made.
Iraqi fishermen have complained of harassment by Kuwaiti fishermen, alleging that they do not respect maritime boundaries, particularly regarding navigation in the Khor Abdullah, a waterway that separates Iraq from Kuwait and is Iraq's gateway to the Gulf.
Iraq is constructing the multi-billion dollar Grand Port of Al Faw on Khor Abdullah, which at in the heart of the country's ambitious plan to connect Asia to Europe through rail and road networks that traverse Turkey.
Early last year, Iraq paid its last war reparations to Kuwait, settling the $52.4 billion of claims made for damage inflicted during the 1990 invasion.
Both ministers also discussed the issue of Kuwaiti nationals who had gone missing during the invasion, Kuwaiti-owned properties in the southern province of Basra, fishing, the fight against drugs trafficking and the mutual facilitation of visits by Iraqi and Kuwaiti citizens.
To boost trade, the Kuwaiti minister announced the opening a of commercial attache office at the Kuwaiti consulate in Basra.
Iraqi Minister of Transport Razzaq Al Saadawi and Basra Governor Asaad Al Eidani, as well as representatives from the Oil Ministry, attended the meeting.
Kuwait is also in dispute with Iran over their maritime border and Al Durra offshore gasfield in the Arabian Gulf.
Kuwait and Saudi Arabia say they have “exclusive rights” to Al Durra and called on Iran to validate its claim by first demarcating its own maritime borders.
Iran previously claimed a stake in the field and described a Kuwaiti-Saudi agreement signed last year to develop the field as “illegal”.
"Interest Rate Hedge ETFs on the Rise Again", 5 AUGUST
Interest rate hedge ETFs are once again rising, especially after the Fed’s 11th rate hike. The central bank, in its latest meeting, raised interest rates by a quarter-percentage point and signaled the possibility of further increases ahead (read: ETFs to Gain as Fed Raises Rates to a 22-Year High).
The rate hike brings the benchmark interest rate, the federal funds rate, to 5.25-5.50%, the highest level since March 2001. “Recent indicators suggest that economic activity has been expanding at a moderate pace," the Fed said in its statement. "Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated." Although inflation has dropped from the peak of 9.1%, it has a long way to go to meet the Federal Reserve's 2% target.
The American economy surprisingly picked up steam in the second quarter, thanks to resilience among consumers and businesses in the face of high interest rates. This is especially true as the GDP grew 2.4% annually from 2% growth in the first quarter.
Additionally, the surge in yields contributed to the rally in these ETFs. Treasury yields spiked to the highs of 2023 in the Aug 2 trading session, buoyed by plans of government debt issuance and signs of the labor market’s enduring strength. The 10-year yields topped 4.12%, marking the highest level since November 2022, while 30-year yields reached their highest level in nearly nine months to about 4.2% (read: Inverse Treasury ETFs Spike as Yields Hit 2023 Highs).
Higher Rates: Pros and Cons
The increase in interest rates has made borrowing expensive, pushed up the cost of buying a new car or house, increased the cost of carrying credit card debt and thus slowed down the economic growth. This will further boost the U.S. dollar against the basket of other currencies, thereby leaving a huge impact on commodity-linked investments. Thus, a rising-rate environment will hurt a number of segments.
In particular, high dividend-paying sectors such as utilities and real estate would be the worst hit, given their higher sensitivity to rising interest rates. Additionally, securities in capital-intensive sectors like telecom would also be impacted by higher rates. However, higher interest rates usually indicate a healthy economy, leading to greater consumer power and increased IT spending. This combination of factors will result in increased industrial activity and a pickup in consumer demand.
This has compelled investors to flock to the interest rate hedge ETFs to protect themselves from the rising rate environment. We have highlighted a few of them:
Advocate Rising Rate Hedge ETF (RRH)
Advocate Rising Rate Hedge ETF is a multi-asset ETF that seeks to generate capital appreciation during periods of rising long-term interest rates, specifically interest rates, with maturities of five years or longer. It is an actively managed fund and seeks to achieve its investment objective primarily by investing in a combination of U.S. Treasury securities; forwards, futures or options on various currencies; long and short positions on the short and long-end of the Treasury or swap yield curve via futures, swaps, forwards and other over-the-counter derivatives; long and short positions on equity indexes and investment companies, including ETFs; and commodity futures and options.
Advocate Rising Rate Hedge ETF has accumulated $7.1 million in its asset base and charges 85 bps in annual fees. It trades in an average daily volume of 29,000 shares and has gained 8.7% in a month.
Simplify Interest Rate Hedge ETF (PFIX)
Simplify Interest Rate Hedge ETF is the first ETF providing a simple, direct and transparent interest rate hedge. It seeks to provide a hedge against a sharp increase in long-term interest rates and benefit from market stress when fixed-income volatility increases while providing the potential for income.
Simplify Interest Rate Hedge ETF holds a large position in over-the-counter interest rate options intended to provide a direct and transparent convex exposure to large upward moves in interest rates and interest rate volatility. It invests in long-dated put options on 20-year US Treasury bonds to offer the most liquid and the most cost-efficient way of getting interest rate protection. PFIX has accumulated $204.3 million in its asset base and trades in an average daily volume of 117,000 shares. It charges 50 bps in annual fees and has surged 15% in a month.
Global X Interest Rate Hedge ETF (RATE)
Global X Interest Rate Hedge ETF is an actively managed fund that seeks to provide a hedge against sharp increases in long-term U.S. interest rates and is expected to benefit during periods of market stress when interest rate volatility is elevated. It seeks to achieve its investment objective primarily by investing in long interest rate swap options and long positions in short-term U.S. Treasury securities (read: Rates To Remain Higher For Longer? ETFs to Hedge the Trend).
Global X Interest Rate Hedge ETF has amassed $3.3 million in its asset base and trades in average daily volume of 1,000 shares. It charges 47 bps in fees per year and has gained 5.3% in a month.
https://www.nasdaq.com/articles/interest-rate-hedge-etfs-on-the-rise-again
"WHAT IS ARTICLE 304?", DINAR IRAQ AND DONG VIETNAM, 5 AUGUST
What is Article 304?
To protect the dinar… Since when do you protect toilet paper?
Since when do you protect used toilet paper that’s already been flushed down the toilet? Never. You’re going to release 304 right now? What for? Have you done it the years before? No.
Have you done it decades before? No…Sudani is arresting people left and right, backwards and forwards, up and down…because he’s not messing around anymore with those that are delaying the monetary reform.
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DINARLAND UPDATE, 5 AUGUST
MarkZ
[via PDK]Question: …is this our weekend?
MarkZ Answer: We don’t know for sure but there are a lot of pieces put into to place that could let it go this weekend. A heck of a lot of them…But, we won’t know until we cross the finish line…Most of my sources still believe we are very close. MR.C [Guru Mike Cottrell] thinks any day now to just a few weeks and I agree…My connections in wealth management have been preparing for this for some time. My guess is we are closer than we think…
Frank26 (KTFA)
What is Article 304? To protect the dinar
… Since when do you protect toilet paper? Since when do you protect used toilet paper that’s already been flushed down the toilet? Never. You’re going to release 304 right now? What for? Have you done it the years before?No. Have you done it decades before? No…Sudani is arresting people left and right, backwards and forwards, up and down…because he’s not messing around anymore with those that are delaying the monetary reform.
Article:
“The judiciary: the arrest of suspects who carried out suspicious banking activities and the seizure of 15 million dollars“
This week all these articles are about what? All the bad guys being busted. All the banks that are being punished. All the merchants that are being closed down…The CBI floor is almost spotless for the Monetary reform!
MilitiaMan (KTFA)
Support the dinar, that’s the focus and the demand to diminish with the dollar. We can see they’re moving to that end. We all know the central bank law says it’s illegal to the dollar. The IMF Article VIII compliance requires the dollar to disappear when it comes to goods and services within the country…Bottom line is there’s not going to be a need for that parallel market anymore…
Bruce (The Big Call)
[via WiserNow]
I can tell you the rates are continuing to go up. The Dong is is terrific. And the dinar is very good. Extremely good… way more than we thought they were looking for …both rates are excellent right now – this is coming right up the bank screens…
…we had Vietnam come to the party…They got Basel three compliant…So…Vietnam is good to go…
Sandy Ingram
Since the integration of AI gathering knowledge from across the Internet, we are learning more about what was said behind closed doors…We now know the ‘big dogs’ do expect an increase in the Iraqi currency.
JUDY NOTE, 5 AUGUST
Global Currency Revaluation:
- Fri. 4 Aug. Wolverine: “The head of the Humanitarian financial instruments in Colombia just announced that all protocols are ready and that letter of exit to release the funds are ready and to thank everyone for this incredible blessing.”
- Fri. 4 Aug. TNT Call: The banks are saying the RV could start today Fri. 4 Aug. after 4 pm after the markets close. FedNow was only activated yesterday Thurs. 3 Aug. Iraq is saying the budget instructions will be made public in the next 10 days, which could mean any time. The back wall is the 12th. It was agreed to be done by then. Tony is waiting for a bank update and will tweet it out.
- Bearded Patriot confirmed that the first wave of liquidity started on Tues. 1 Aug. and Iraq’s new Dinar rate would be published in their Gazette on Sat. 5 Aug.
- MarkZ said that a number of very connected people had to be in place by Fri. 4 Aug. and on that Fri. 4 Aug. said, “A lot of people are traveling today.” He had received mixed reports of this going Sat. 5 Aug, Tues. 8 Aug. or Wed. 9 Aug.
- According to Bruce, Bond Holders would have their funds liquid and Tier4b (Us, the Internet Group) would receive notification to set foreign currency exchange and Zim
Bond redemption appointments on Mon. 7 Aug, or Tues. 8 Aug, with the actual appointments beginning Tues. 8 Aug, or Wed. 9 Aug.
- Texas Snake and Wolverine both reported that their high sources indicated it would go this week.
- On Sun. 30 July Russian President Vladimir Putin announced the Global Currency Reset and on Mon. 31 July, signed a digital ruble bill into law, approving the use of its central bank digital currency for payments starting from Aug. 1, 2023.
- The BRICS Alliance has finally abandoned the USD for a global trade settlement – Cryptopolitan. The line has been drawn in the sand and BRICS nations have made a stand that could shake the global financial landscape. https://www.cryptopolitan.com/brics-abandons-usd-global-trade-settlement/
Fri. 4 Aug. Bearded Patriot
- Have some very exciting Intel & informational news for everyone. I’m saying that due to the request and restrictions that have been placed, all that I can say or relay to you is to listen to BRUCE’s 08-03-2023 recording!!!!!
- It’s basically pretty much what my last night’s call consisted of. Due to the fact that Bruce has put this out, I have NOT crossed the line of my requirements regarding Intel.
- Though, there are a few things that Bruce mentioned that I would like to address:
1. Regarding Biden…NOT A PROBLEM
2. EAS/EBS…NOT A PROBLEM
3. NESARA Announcement…NOT A PROBLEM - Please note to all readers: the following information below has been already mentioned prior to the “MUM” request, so this is NOT NEW INTEL.
- The only thing that is required right now by the Iraqis, CBI and World Court is the payment requirement (proof) for the United States Treasury, which from what I’ve been hearing is well on its way and being fulfilled. (BP)
- Once this has been satisfied, then the Iraqis can move forward and publish in the Gazette the new Iraqi budget rate which will send into international standards. (BP)
- Now, remember me estimating a week or so ago regarding “possible dates” of 31st – 8th of August???
- Well, I had an individual ask me why the 8th and I explained to him that the Chinese LOVES the number 8! This was also verified on Bruce’s call just last night. JUST KEEP THAT IN MIND! Now am I saying that’s the magical date? NO. I’m not in charge of the date/dates, but I’m definitely gonna be looking at some travel destinations just to be on the safe side so I can get my tickets just in case. Lol (BP)
- Again, this information has already been announced, so this still is NOT CROSSING THE INFORMATIONAL LINE IMO…..(BP)
- I’m expecting more information later tonight and will keep everyone informed. I suggest everyone stay vigilant, eyes on your emails, pay attention to your hearing: HINT!!!
Apparent Timeline:
- The EBS merged with the Global Financial System Thurs. 3 Aug. evening.
- Fri. 4 Aug. TNT Call: The banks are saying the RV could start today after 4 pm after the markets close. FedNow was only activated yesterday Thurs. 3 Aug. Iraq is saying the budget instructions will be made public in the next 10 days, which could mean any time. The back wall is the 12th. It was agreed to be done by then.
- NESARA/GESARA will be announced sometime between Tues. 8 Aug. and Tues. 15 Aug.
- Bond Holders will be liquid and paid on Mon. 7 Aug. or Tues. 8 Aug.
- Tier4b (Us, the Internet Group) will be notified Mon. 7 Aug. or Tues. 8 Aug. and our exchanges will begin Tues.8 Aug. or Wed. 9 Aug.
- The NESARA/GESARA announcement also was expected very soon, along with how to get your Med Bed appointment.
- Wed. 23 Aug. 2023: BRICS to formally announce Global Currency Reset at their Summit meetings.
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...