Iraqi parliamentarian pushes for an emergency session amid dinar depreciation
Shafaq News/ Lawmaker Mohama Khalil on Saturday said he intends to gather signatures from fellow parliamentarians to convene an emergency session to address the soaring exchange rate of the US dollar against the Iraqi dinar.
Speaking to Shafaq News Agency, Khalil said that "the rise of the dollar against the national currency has negatively impacted the Iraqi landscape, affecting the citizens' livelihood."
He noted that it is incumbent upon the government and supervisory authorities to curb the soaring exchange rate of the US dollar, criticizing the parliament for its absenteeism and negligence in addressing this surge.
Khalil stressed that "the government needs to elucidate the reasons behind the dinar depreciation, which is expected to exacerbate, and to devise solutions and strategies in this regard, preventing speculators from exploiting the Iraqi market."
As Khalil plans to move forward with his initiative, he highlighted his determination to "call upon the parliament speaker, the first and second deputy speakers, and collect signatures of 50 lawmakers to hold an extraordinary session attended by the stakeholders (Finance Minister and the Central Bank Governor), to openly communicate and reveal to the people the reasons behind the dollar's ascent against the Iraqi currency," before the parliamentary session scheduled for the coming Monday.
World leaders meet at the United Nations with the participation of Iraq
Leaders of world countries, including Iraq, are meeting at the United Nations this week, in light of geopolitical tensions that have been greatly exacerbated by the Ukraine war, amid Russia and China competing on one side with the United States and Europe on the other side, to gain the support of developing countries.
According to a report followed by the National Iraqi News Agency ( NINA ), Russia's war in Ukraine will be the focus again at the annual gathering in New York, which Ukrainian President Volodymyr Zelensky will personally attend for the first time since the start of the conflict.
The concerns of the southern hemisphere top the agenda of the meetings this year, and the focus on this issue comes to some extent as a reflection of the increasing interest of Western countries in developing countries to ensure their support in efforts to isolate Russia.
The focus in several high-level meetings during the General Assembly is on the priorities of developing countries in Africa, Latin America and Asia, namely climate, health, development financing, and how to put the “sustainable development goals” on the right track.
“This is a year in which countries in the southern hemisphere set the agenda,” said Richard Gowan, director of the UN International Crisis Group.
He continued, "Non-Western countries seized this moment very effectively."
He added, "I think she took advantage of the fact that she knew that the United States on one side and Russia on the other wanted to gain her support."
The Ukraine war is just one reason to focus on developing countries. Over the past decade, China has pumped hundreds of billions of dollars in loans for urgent infrastructure projects, as part of its Belt and Road Initiative, which has been criticized for burdening many countries with massive debts.
The United States and its allies recently began attempts to counter China's growing influence by pledging funds in the form of development and climate aid.
Before the New York meetings, diplomats acknowledged their focus on developing countries, but denied suggestions that competition played a role.
The US Ambassador to the United Nations, Linda Thomas-Greenfield, described the General Assembly gathering as an opportunity for small countries to “present their priorities to us,” and that she did not view the matter “as a competition between great powers.”
China's ambassador to the United Nations, Zhang Jun, said that Beijing "has no intention of competing with others" and that the country, as its situation improves, "is willing to do more in return for developing countries, but we are not competing."
Russia's ambassador to the United Nations, Vasily Nebenzia, also stressed that Moscow "is not trying to win over anyone."
He added, "We are just who we are, and we will not make our friendship with anyone conditional on them standing on our side and doing what we want, unlike some of our colleagues here who are twisting their arms." link
The Iraq prime minister discussed the cooperation between financial institutions in Iraq and the US Treasury Department with the US Assistant of the Secretary of the Treasury Department, Elizabeth Rosenberg. The meeting addressed measures the Iraqi government took to reduce corruption. The Prim Minister indicated the government is advancing the banking sector reforms which are crucial for the economy's growth by adhering to international standards...
Rosenberg applauded the Iraqi government's outstanding efforts in implementing financial and banking reforms which would support Iraq's attempts to...expand its economy.
The Turkish currency has steadily increased abasing the U.S. dollar since March 2023. If Iraq's currency were to match the Turkish Lira many of us would be looking at $40,000 in profits (with 1 million dinar) even without a so-called revalue.In a matter of months you can reali
ze thousands of dollars in profits when dealing with exotic currencies.
It is taking Iraq longer than usual but they have had so many more issues than many countries.
Bruce
[via WiserNow] ...a delegation from United States, a small group that included Judy Shelton, Stephen Munchin, and a couple of senators from the United States...went over to Iraq to have – I’m gonna say, effect the changes that...needed to be made...they're already home...My thinking is that they probably accomplished what it was they went over there to do...
we've heard that everything's done and signed everything was signed off on...everything was signed off by our treasury - and everything was quote, unquote, good to go...The fact that they're back, I believe, is saying that Iraq is finally ready to go...Everything is ready to go is what we're getting from our key sources...
I received this from a friend this morning, it now has been posted
OK here goes. I have a friend of mine. That is a personal Dinar dealer in the United States. I’m able to purchase Dinar from him anytime and I get the shipment within 3 to 5 business days.
I just got off the phone with him. And he is telling me that his vendor just got all of his dinar confiscated. The vender explained to my Dinar friend that he is no longer allowed to sell and that he will be returning his 25,000USD in 2 days.
The vendor said that they are tightening the noose in iraq and they are stopping people from taking it over seas. My dinar dealer said that the us treasury has caused a wave that is causing vendors to immediately stop.
My own dinar dealer is upset bc he sold all of the dinar and does not have any for himself. He laughed and said he will have to try to grab some off eBay.
My dinar guy sells 10-20 million in dinar a week. Now he’s completely cut off.
I laughed over the phone and found it pretty ironic.
Everybody take that for what it’s worth.
Lastly, my Dinar dealer is very well-versed in cryptocurrency, and he said that the utility coins are going to explode in the next 5 to 6 months. He said if you’re going to buy anything buy XRP. He also said that if you have bitcoin, utilize well bc it’s not going to be high forever.
He also explained that Dinar’s gonna get extremely expensive here in the near future and then after that you won’t be able to buy it
That is exactly what I have been watching for and tracking daily. Because unless and until the currency Brokers stop selling exotic currency the rate has not changed. That's better news than any guru. You can hang out your shingle! Thank you!
US Treasury official urges CBI to address dollar misuse risks to avoid further sanctions
Shafaq News / A senior official from the US Department of the Treasury has stated that the Central Bank of Iraq (CBI) must address ongoing risks stemming from the misuse of the US dollar in Iraqi commercial banks to avoid further punitive measures targeting the country's financial sector. The official noted instances of fraud, money laundering, and Iran evading sanctions.
In July, the US barred 14 Iraqi banks from conducting transactions in dollars as part of a broader campaign against unlawful use of the US currency.
According to the official, there are still other Iraqi banks with risks that "need to be addressed" despite the campaign.
With reserves exceeding $100 billion in the US, Iraq heavily relies on Washington's goodwill to ensure its oil revenues and funds are not subjected to US sanctions.
The official added that the action taken by the US in July was based on clear indicators of illegal financial activity. Alleged crimes under investigation by the Treasury Department include money laundering, bribery, extortion, embezzlement, and fraud.
CBI's governor has stated that the country is committed to implementing stricter regulatory rules for the financial sector and combating dollar smuggling. CBI did not immediately respond to a request for comment on Thursday .
Iraq has over 70 private banks, a relatively new development in a sector that was almost entirely state-dominated until the fall of Saddam Hussein following the U.S. invasion in 2003. Among these banks, slightly less than a third are on the US blacklist.
The official told Reuters in Baghdad, "I chose to focus on the banks that still have access, and I see that the risks are ongoing there."
He added, "It would be great if CBI seized the opportunity to address the matter directly, which might negate the need for further actions [in the US]."
Iraqi PM invites World Bank to audit Development Road Project designs
Shafaq News/ Iraqi Prime Minister Mohammad Shia Al-Sudani directed the Ministries of Transport and the Board of Advisors to develop a mechanism for involving the World Bank in auditing the designs of the Development Road Project.
During the third meeting of the Supreme Committee for Implementing the Development Road Project (DRP), Al-Sudani and officials discussed the impact of international road projects on the DRP's work strategy and the economic model presented by the consulting team.
Prime Minister Al-Sudani emphasized the importance of launching the first implementation step and reflecting on the project's impact on various aspects of Iraq's economy, industry, services, and society.
The Development Road Project is a $17 billion infrastructure project in Iraq that aims to connect Asia to Europe through a new motorway and rail network. The project will link the southern port city of Basra to the Turkish border, connecting to existing rail and road networks that lead to Europe.
The project is being funded by a consortium of Iraqi and international investors and is expected to be completed in 2028. It is expected to create thousands of jobs and boost the Iraqi economy by billions of dollars.
The Development Road Project is more than just a road and a railway. It is also a strategic project that aims to transform Iraq into a regional transportation hub. The project will also help to promote regional cooperation and economic integration.
The project is still in its early stages but can potentially be a significant game-changer for Iraq and the region. It is a sign of Iraq's commitment to rebuilding and developing its economy and playing a more active role in the global community.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
The CBD Gurus share information the first 30 minutes or so…..then MarkZ with the news
Mod: GOOD MORNING EVERYONE! HAPPY SATURDAY!.
Member: yo, yo, yo, let's Go, Go, GO!
MZ: Well…this surprised me , but I got it from 3 different sources that they are (with hopeful anticipation) keeping a skeleton crew in call centers/ redemption centers and working on how they are going to handle appointments ….I think this is good news.
MZ: I think its comforting that the banking side of this is taking it seriously and has a small crew ready- just in case they pull the trigger.
MZ: Most of the news we are expecting should start tomorrow or Monday coming out of Iraq.
MZ: Depending on chatter coming out of Iraq - we may have a short podcast tomorrow…. Just an update as we are expecting a lot of activity tomorrow and Monday. If we get groundbreaking news…I will come on.
MZ: Bonds and groups are still in a “wait” cycle.
Member: The latest, that I have heard, from a US Soldier, is that the HCL (Hydro Carbon Law) was passed in Parliament and all is ready.
Member: What day is Sudani talking at the UN?
MZ: I believe it’s on Tuesday…..
Member: Praying everything goes all at once……that would make sense to me….shotgun start.
MZ: I am still hearing it all should go at once.
Member: Mark-Fact or fiction…..some dinar sellers are being told they can no longer sell???
MZ: Fact. Some of the smaller dealers have had their supply and purchasing limited as to what they can buy at all….. But yes…I have talked to a couple of smaller dealers that have had their access cut off so they can no longer get it. They can no longer get dinar. So, is this important or is this the US stopping dinar from getting outside and flowing to Iran?
Member: Patriot Rod Steel was on ppn. last night. the treasury secretary said on Wednesday that she would make a decision in 96 hours. that would bring us to Monday. that would be nice
Member: Rod Steel says he has got a whole list of banks that are hooked to the quantum financial system
Member: I am hearing Tuesday is our day.
MZ: That timing certainly fits. We are also expecting an announcement from the Iraqi officials here in the states at that same time.
Member: Hoping that announcement is the new dinar rate
Member: TNT Tony also said bankers are working today and tomorrow.
MZ: There you go….boom…they are getting the same thing I am getting.
Member: I am still thinking it will happen before the new fiscal year starts here in the US on Oct 1.
Member: I think next week looks fantastic.
Member: I am hping someday we are watchcing MarkZ and he gets the call for us to go
MZ: I am hoping for that as well. I am hoping we get that call on Monday.
Member: Thanks Mark and Mods for all you all do!!!
Member: Everyone have a Great weekend and God bless you all!!!
Mod: MARKS WEEKEND EMAIL ADDRESS: DONTWRITEME@NEVERONWEEKENDS.COM
“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY
SATURDAYS GO TO: Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.
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To control the money... Parliamentary Finance accuses America of putting pressure on the Central Bank
On Saturday, a member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, accused the United States of America of putting pressure on the Central Bank of Iraq by preventing the Federal Bank from accessing the funds.
Al-Kadhimi said in an interview with the Maalouma Agency, that “American dominance over the work of the Central Bank must be consistent with the vision of the Federal Reserve and the American Treasury.”
He added, "There are efforts being made by the Central Bank of Iraq to reach merchants' remittances throughout the world."
Al-Kadhimi pointed out that "remittances issued by the Central Bank of Iraq to merchants to import goods continue despite American pressure."
Member of Parliamentary Finance, Mustafa Sanad, had previously confirmed that America is leading colonialism and international blackmail against Iraq by causing an increase in the dollar exchange rate, criticizing the silence of the political blocs regarding this. link
[via PDK] Question: Do we know why Iraqi delegates are coming to DC on Sun-Tues?? MarkZ answer: I believe it is for an announcement that will make us all very happy. At least we sure hope so.
[via PDK] We are painfully close…Lots of expectations for Sunday and Monday and those meetings on HCL agreements and with the US Treasury. Things are really appearing to be lining up perfectly. All eyes at this point are on the Sunday/Monday meetings in IRAQ…on HCL and they say they are addressing the exchange rate of the dinar
…we will see what comes of those
[via PDK] Question: Do you think it will RV before the 20th. MarkZ Answer: My gut says around the 20th…but sources say they believe it will be sooner. Getting all positive news – nothing negative. Comment: We are fixin to be blessed. MarkZ: I agree with you. Sudani said he was going to address the exchange rate and the strength of the dinar. He is telling us…now we just need to see it happen.
[via PDK] “US Treasury discusses with CBI foreign trade in three currencies other than the dollar” This is the US Treasury representative in Iraq and sitting down with Alaq. Of course they are working with the CBI and working through some things...They also discussed all the tremendous efforts Iraq has done to modernize their banking system. They can now track money laundering, bad guys ect…I am still hearing there are Fed Reps and State Dept Reps there as well as World Trade Organization Reps as well. ...I am hearing out of Iraq…That they are finalizing that rate change...I still believe everything is in place and they just need to flip a switch.
Iraq's exchange rate gap expected to widen further
Shafaq News / Economic experts in Iraq predict that the gap between the official and parallel exchange rates will widen in the coming days or weeks, with expectations that the dollar exchange rate will reach 160,000 dinars during this period.
Economic expert Nabil Al-Marsoumi stated, "It is expected that the gap between the official and parallel rates will increase in the coming days or weeks, especially after the release of funds in the 2023 budget and increased consumption and investment spending."
He explained that "previous conditions remain the same, meaning that as long as there are U.S. sanctions on Iran preventing official financial transfers through bank transfers to settle Iranian trade dues, the gap will remain large and widen with time."
Regarding Iranian exports to Iraq, Al-Marsoumi said, "Iranian exports to Iraq exceed $10 billion annually, and these are currently being financed from the parallel market, by collecting dollars from travelers and transferring them to Iran."
He added, "Iraqi travelers abroad spend $3.41 billion annually, and these individuals are prohibited from obtaining dollars at the official rate, so they resort to the parallel market."
Al-Marsoumi pointed out, "the current factors in Iraq indicate that the gap will increase, and no one would be surprised if the dollar exchange rate reaches 160,000 dinars in the coming weeks or months."
He concluded by saying, "Relying on measures by the Central Bank or the Iraqi government to narrow the gap is difficult to implement because the issue involves capabilities that neither the Iraqi government nor the Central Bank possess."
"The only solution to narrow the gap between the two rates is to lift U.S. sanctions on Iran, restore official transfers to Iran, or cut off foreign trade and prevent Iraqi travelers from traveling to Iran. Otherwise, the gap will continue to widen in the near and medium term.
"
The exchange rate for the Iraqi dinar against the U.S. dollar touched 156,000 dinars for every 100 dollars with the closing of the central stock exchange in Baghdad on Thursday.
Shafaq News / The dollar held steady in Asia on Friday, easing slightly from overnight gains against peers, while the yuan strengthened in the wake of some market-beating economic data out of China.
The dollar jumped overnight after U.S. retail sales received a boost from higher gasoline prices, increasing 0.6% in August versus an estimated 0.2% rise, while market participants reacted to the European Central Bank's 25-basis point hike.
The U.S. dollar index last stood somewhat lower at 105.25, but still near Thursday's six-month peak of 105.43.
The euro remained near Thursday's multi-month low of $1.0632 against the greenback.
The yuan and Australian and New Zealand dollars received a boost after a batch of economic data from China in the Asian morning came in better-than-expected for some key indicators, providing a rare lift in sentiment.
The offshore yuan rose over 0.3% against the dollar to around 7.262 after the release.
The Australian dollar , a proxy for China growth, strengthened 0.5% to $0.6473, while the New Zealand dollar last stood 0.3% higher at $0.5931.
Elsewhere, the euro was up 0.1% at $1.0652, just off a six-month low of $1.0632 against the dollar after the ECB hiked rates another 25 basis points at its monetary policy meeting on Thursday.
Monday Sudani makes announcements through the special meeting televised throughout the country. He said a whole lot. We’ll move along day by by…of what has happened since Monday, where we’re at now, where we’re gonna be and how close that finish line really is. Tuesday our friend US Secretary
Elizabeth Rosenberg lands in Baghdad. She is an international wizard. She is brilliant…
International business, that’s why she was there. Why is she there now? Because everything is done except two things in country – that’s your new notes and your rate. They have secured the border…Now they are focusing on international investment contracts/banking.
She had a special visitor. Iran showed up… Agreements were accepted and inked by Mrs Rosenberg. Those agreements are executed…Iran is no longer slowing us down. Brilliant… Wednesday…4 meetings with Rosenberg.
Rosenberg also met with Sudani and GOI leaders…Budget, budget, budget… Thursday, Kurdistan region showed up. Meetings with Sudani. Here’s the powerful thing. Barzani is all smiles. He is no longer concerned about salaries being paid because he believes parliament will make the necessary decisions for payments.
"It's settled." Iran confirms: Rail link with Iraq is intended for the transport of tourists and visitors
Economy News - Baghdad
The Iranian ambassador to Baghdad, Mohammed Kazem Al Sadiq, confirmed on Friday that the railway link project between Iraq and Iran is intended for tourism and visitor transport.
Al-Sadiq said in an interview with the official Iraqi News Agency that "there is a serious will from the leaderships of Iraq and Iran to implement the railway link project, and the steps and operations of the launch of the rail link have begun."
He added, "The matter has been decided that the project will be for religious and natural tourism and the return and return of visitors and travelers between the two countries."
----
Next week, an “important decision” will be issued by the federal government, which calls for optimism
9/14/2023
The Prime Minister of the Kurdistan Regional Government of Iraq, Masrour Barzani, expressed on Thursday his optimism about reaching fruitful results after the visit of the region’s delegation to Baghdad.
Barzani said in an interview with reporters in Baghdad, "Next Sunday, the Iraqi Council of Ministers session will be held, and many of the topics that were discussed are likely to be subject to a final decision."
He added, "I am optimistic and hope the results will be good."
He continued, "We came to Baghdad to protect all the interests of the people of the Kurdistan Region in accordance with the constitution and to collect all financial dues. There was a discussion about the procedures so that we can, with the Prime Minister, provide support to the political parties to reach good results."
He pointed out, "We are waiting for the Cabinet meeting to be held next week, and I am optimistic that we will produce good results." LINK
As of Fri. 15 Sept. all US Banks were working for the US Treasury: When you go into a bank like Wells Fargo to exchange, you are not doing business with Wells Fargo. You are doing business with the US Treasury. They are contracting with that bank to use the space but the people don’t work for the bank they are contracted by the US Treasury.
The US Treasury Assistant Secretary made a comment per Rod Steele that everything is and has been signed off and should be approximately 96 hours from her return from Baghdad, Iraq. She returned today Fri. 15 Sept. X 96 hours = Tues. 19 Sept.
Fri. 15 Sept. TNT: Tony was informed by his bank contacts that they were facing a heavy workload and by Mon. 18 Sept. we should be exchanging.
Fri. 15 Sept. MarkZ: Lots of expectations for Sunday 17 Sept. and Mon. 18 Sept. during meetings with Iraq and the US Treasury on HCL agreements where they will be addressing the exchange rate of the dinar. Iraq wanted a worldwide announcement to the general public of a rate change somewhere around the 20th or 21st. That does not mean we are waiting until then. Groups are positioned and ready. People are all in place. Agreements are done. All we are waiting on is the switch to be pulled.
Thurs. 14 Sept. Bruce: Three excellent sources said Tier4b (us, the Internet Group) should get notified Fri, Sat or Monday 15, 16 or 18 Sept. We are at a any day, any hour basis. Release to Bond Sellers should happen Fri, Sat or Monday 15, 16 or 18 Sept. Tier4bto be notified after Bond Holders – or by next Tues. 19 Sept. Military personnel and Bond Holders have exchanged but do not yet have access to their funds.
On Tues. 12 Sept. the US Treasury gave word to Redemption Centers that everything was signed off and ready to go.
Mon. 11 Sept. Hernán Robert Hbravo: It is reported in Iraq that everything is ready and agreed with the United States Treasury for the Revaluation of the DINAR currency.
All documentation was studied and agreed upon between the government of IRAQ and the US. The documentation was delivered on Mon. 11 Sept. 2023, to the United States Treasury for prompt signature.
As of Fri. 15 Sept. Banks were no longer independent, but working for the US Treasury: When you go into a bank to exchange like Wells Fargo you are not doing business with Wells Fargo. You are doing business with the US Treasury. They are contracting with that bank to use the space but the people don’t work for the bank they are contracted by the US Treasury.
Our inside source, a brave individual deep within military intelligence circles(identity classified for obvious reasons), has dropped a piece of information that might just shake the very foundations of the global economy: 97 of the top 100 central banks are currently under transformation to become fully operational under the QFS + RTGS system. The remaining 82 smaller central banks are gearing up for this transition. On October 1st all BANKS have to be working with the QFS, THAT’S WHY WE THINK IT HAS TO BE DONE BEFORE SEPTEMBER 30.
Fri. 15 Sept. Rubix Q: I have a friend who is a personal Dinar dealer in the United States. He is telling me that his vendor just got all of his dinar confiscated and is no longer allowed to sell. They are tightening the noose in Iraq and they are stopping people from taking it overseas. The US Treasury has caused a wave that is causing vendors to immediately stop. This tells me that’s it’s a wrap…the initiation process begun. When the brokers are told to stop selling it let’s you know we are an inch away…you won’t be able to double dip once you make your appt. Second, what you have is what you have…it has been said that when we are close that brokers/dealers will be restricted from selling. As far as BTC, it’s going to zero. XRP is the mother of all digital gold backed assets.
Rep. Tom Emmer introduced a bill to ban the Federal Reserve from creating a Central Bank Digital Currency. A CBDC is nothing more than a CCP-style surveillance tool that can be weaponized to oppress the American way of life.
As of Fri. 15 Sept. 97 of the top 100 Central Banks were under transformation to become fully operational under the QFS + RTGS system. The remaining 82 smaller Central Banks were gearing up for this transition.
Fri. 15 Sept. Rubix Q on Telegram: Auto workers are now officially on strike outside the Ford assembly plant, which makes the Bronco and Ranger, in Wayne, Michigan. It’s not coming back just like Hollywood on strike. When they go on strike it’s a bye-bye. No jobs, no company so what happens to the economy. https://t.me/police_frequency/100798
Thurs. 14 Sept. Inside the Exclusive World of Redemption and Exchange Centers, Ben Fulford.
If you have purchased currency from an authorized dealer in the US an email from powerhouses like Wells Fargo Bank or even Chase – both top tier 1 banks for Exchange + Redemption Centers – is on its way to your inbox.
The US Treasury provides these email lists. No one can truly verify if they’re on this exclusive list. And thus, to ensure maximum reach, the Safelink website, the ultimate tool for exchange, will be spread like wildfire across major online platforms and chat forums.
While estimates suggest there are 10 to 12 million individuals in the US holding foreign currency or securities, only a measly 3 to 4 million find their way to the Wells Fargo email list. The reason? Scores of people innocently bringing currencies home after vacations, dutiful military personnel from places like Iraq, charter flights operations, and many more reasons you wouldn’t suspect.
Anyone longing for higher exchange rates via the Exchange or Redemption Center will be granted a unique personalized 800 number (not to be confused with the pedestrian ‘1800‘ numbers). This number, mind you, is one-time-use only.
If anyone chooses to walk into a bank directly without this unique digital access, they’re effectively shooting themselves in the foot. The reason? Banks can only offer what’s known as the screen rate or the Forex rate, a measly sum compared to what one could obtain.
Exchange rates in the US stand as fixed, unyielding monoliths – unless, of course, one possesses a particularly hefty amount.
(Zim) Bonds? Now, they’re a different ballgame. The rates of exchange, the interest, the fees after working with banks – it’s all up for negotiation, pulling the strings behind closed doors.
Your unique rendezvous at the Redemption or Exchange Center, however, comes with strings attached. No second helpings allowed! If you think you can dance twice at the same ball, think again. Should anyone attempt a sly double-dip, the repercussions will be swift and severe.
A second appointment? Reserved for a different basket of currencies scheduled half a year later.
The Redemption and Exchange Centers will be open for a brief window of 4 to 6 weeks.
Private Bank teams, with their vast networks, swoop in, ensuring anyone with redemptions over $1 million is shepherded into trust setups, private banks, and an exclusive world of perks not available to the average Joe.
Redemption Centers exist for the sole purpose of redeeming (Zim) bonds, and Exchange Centers designed for currency-only aficionados.
The safety at these centers? Top-notch. I have a hunch the military might be lurking in the shadows, ensuring iron-clad security.
