Thursday, December 7, 2023
"RV UPDATE" BY KAPERONI & NADER FROM MID EAST, 8 DEC
Kaperoni
They...have to have the dinar stabilized within the country and within the 2% rule mandated by the IMF in order to then accept IMF article VIII and begin to float the dinar which would raise its value based on supply and demand. All of these processes and or steps required time.
Nader From The Mid East
Question "Can you talk about the steps involved in cashing in dinars?" When exchange time comes we're going to have to go to three things - Redemption center, 1-800# or the army base. :)
[Nader is clearly joking about these three things]...People are telling them that. That's wrong. The only thing you can do to change your money, walk to your bank, if they accept it, or go through exchange offices. There's no redemption centers, no army bases, there is no 1-800#s, nothing that way. [NOTE: Gurus disagree on the potential exchange procedures. Stay tuned to Dinar Guru as this important subject unfolds and become clear.]
Iraq Affirms Support for OPEC+ Agreement, Aims to Stabilize Global Oil Market, 8 DEC
Iraq Affirms Support for OPEC+ Agreement, Aims to Stabilize Global Oil Market
Renewing its commitment to the OPEC+ agreement, Iraq continues to support the collective strategy of regulating oil output to maintain balance and stability in the global oil market. The commitment comes as a voluntary contribution to managing the supply and demand dynamics of the oil market, control the fluctuation of global oil prices, and ensure the benefit of both producers and consumers internationally.
Iraq’s Continued Support for the OPEC+ Agreement
Iraq’s Oil Minister, Hayan Abdel-Ghani, affirmed the country’s dedication to the OPEC+ agreement and its commitment to voluntary oil production cuts. This declaration, as reported by the Iraqi state news agency (INA), is part of Iraq’s concerted efforts to achieve oil market balance and stability. The OPEC+ agreement, an alliance of oil-producing nations, aims to regulate oil output to manage market dynamics and influence global oil prices.
The Impact on Global Oil Market
As oil prices regained some ground after a six-month low, concerns remain about sluggish demand and economic slowdowns in the US and China. By renewing its commitment to the OPEC+ agreement, Iraq demonstrates its dedication to cooperative strategies designed to maintain market equilibrium and prevent excessive volatility. This initiative is a testament to Iraq’s role as a responsible member of the global energy community, willing to adjust its oil production in line with agreed-upon international strategies for the broader economic environment’s benefit.
Looking Forward
With this renewed commitment, Iraq continues to fortify its position in the global oil market. It underpins the importance of cooperative strategies and collective efforts to mitigate the impacts of economic slowdowns and maintain stability in the oil market. As the world navigates economic uncertainties, Iraq’s support for the OPEC+ agreement is a beacon of dedication to the broader economic environment and the global energy community.
Russia and Vietnam Quadruple Trade Settlements in National Currencies, 7 DEC
Russia and Vietnam Quadruple Trade Settlements in National Currencies
Trade settlements between Russia and Vietnam, conducted in their respective national currencies, the ruble and the dong, have seen an unprecedented increase in 2023, quadrupling in volume. This significant leap was revealed by Olga Basha, the head of international settlements at VTB bank, who shared this information ahead of the Russia Calling 2023 investment forum.
Rise of National Currencies in Trade Settlements
The shift towards national currencies for cross-border trade, moving away from the dominant US dollar, commenced in 2022. This global trend intensified particularly after sanctions related to the conflict in Ukraine led to Russia being disconnected from Western financial systems and the freezing of its foreign reserves.
VTB Bank: Facilitating Ruble-Dong Transactions
VTB, Russia’s second-largest bank, plays a pivotal role in these burgeoning trade settlements, acting as a market maker in Vietnam. Payments for the ruble-dong currency pair are being processed through a joint bank, indicating a shift towards greater financial independence and interdependence between the two countries.
From China to India: A Global Trend
This trend is not confined to Russia and Vietnam. VTB Bank has also noted an increase in the use of national currencies for transactions across its international subsidiaries and branches. Operations in India and China, as well as throughout the Commonwealth of Independent States, are increasingly turning to national currencies, reinforcing this shift away from the US dollar in cross-border trade.
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 7 DEC
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: TV is showing the IMF and the World Bank talking about Iraq and then the IMF kind of started talking bad about us...Iraq. Criticizing. Out of no where the World Bank stands up and says, 'Get off their backs. There is a plan in place and expect imports to bust wide open because soon as the dinar revalues...' 'YES the World Bank said this. The World Bank is saying the dinar revaluation will cause us to buy more imports because we have more purchasing power. They're telling us this!
FRANK: It's no longer a secret...My goodness...this is straight from the horses mouth...This is basically an announcement...evidence. He said it.
FIREFLY: TV says we are moving towards monetary sovereignty.
FRANK: The reason they tell you this is because it’s moving towards a monetary sovereign national currency that will replace the 3-zero notes that are worthless and also replace the American dollar…They’re not hiding anything. It’s not a secret. Everything is out in the open…
You are now standing on the grounds of the RD and you’re soon to walk into the float. These are the steps. This is the journey you’ve taken whether your recognize it and understand it or not. The monetary reform is moving forward beautifully.
Article:
“The President of the Republic: There is no dollar crisis in Iraq”
OF COURSE NOT… THERE’S A NEW NATIONAL CURRENCY & A NEW EXCHANGE RATE COMING… AND EVERYONE KNOWS IT.
Iraq committed to voluntary reduction in oil production, Minister says, 7 DEC
Iraq committed to voluntary reduction in oil production, Minister says, 7 DEC
Shafaq News / Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, announced on Thursday Iraq's complete endorsement of the OPEC+ group's agreement and decisions made last month regarding production cuts.
Abdul Ghani, presiding over a meeting at the Iraqi Oil Marketing Company (SOMO), stated according to a statement that Iraq is committed to a voluntary additional reduction in oil production of up to 220,000 barrels per day, effective from the 1st of January 2024 until the 31st of March 2024.
He affirmed, "Iraq's decision aligns with joint efforts to achieve equilibrium and stability in the oil markets. According to the reduction program, Iraq will decrease its production to four million barrels per day during the specified period."
He also expressed appreciation for the precautionary measures taken by the OPEC+ group to preserve the balance and stability of the oil market.
On his part, the Director General of SOMO, Ammar al-Ankabi, confirmed, "Iraq, being the second-largest crude oil producer in the OPEC organization, will remain supportive of the organization and its allies, in line with the declared cooperation with OPEC+, in accordance with developments in the oil market."
"The OPEC+ agreement and the voluntary reduction decisions by producing countries within OPEC and outside it aim to address challenges and changes in the oil market, minimizing their impact on its stability", he added.
https://shafaq.com/en/Economy/Iraq-committed-to-voluntary-reduction-in-oil-production-Minister-says
The date of “cancellation of cash” and the reality of the additional fees.. New details about electronic payment at gas stations, 7 DEC
The date of “cancellation of cash” and the reality of the additional fees.. New details about electronic payment at gas stations
Today, Sunday (December 3, 2023), the Petroleum Products Distribution Company affiliated with the Ministry of Oil revealed new details regarding stopping cash payment at gas stations at the beginning of the new year.
The company's general manager, Hussein Talib, told "Baghdad Today",
"Closing cash transactions at gas stations completely will not happen at the beginning of next year, but rather in the first quarter of 2024, and
the process will also take place gradually at the stations, one after the other.". Talib stated,
“There are kiosks that will be opened in most gas stations in order to issue an electronic payment card, in order to facilitate this matter for many citizens, and
payment via the card will not deduct any additional amount other than the amount that appears on the payment screen, without any Other wages.
The Director General of the Petroleum Products Distribution Company added,
“Payment devices will be available at every pump so that there will be no delay in the issue of paying wages, and
the process will be easy and fast and will not cause any rush.
On the contrary, it will speed up the payment process, but rather cash payment, which takes time to complete.” Count the money.”
https://baghdadtoday.news/236932-موعد-الغاء-النقد-وحقيقة-الرسوم-الاضافية.-تفاصيل-جديدة-عن-الدفع-الالكتروني-بمحطات-الوقود.html
Goodbye PetroDollar: Saudi Arabia’s Plan to Decouple from the Dollar BY AWAKE0-IN-3D, 7 DEC
Goodbye PetroDollar: Saudi Arabia’s Plan to Decouple from the Dollar
On December 5, 2023 By Awake-In-3D
In RV/GCR
And So It Begins…
The events in Saudi Arabia, particularly the establishment of a $7 billion local currency swap line with China and the probable shift away from the US Dollar, are significant in the context of the end of US dollar dominance and preparations for the approaching Global Currency Reset (GCR).
These events reflect a shifting global economic landscape where multiple currencies play a more prominent role, challenging the historical dominance of the US Dollar.
Saudi Arabia recently announced a groundbreaking $7 billion local currency swap line with China, sparking speculation about a significant shift in their economic strategy.
The Saudis face a unique challenge: despite low production costs, the government’s budget heavily depends on oil revenue. Breaking the Riyal peg to the Dollar becomes a solution, attracting foreign buyers offering alternative currencies for oil.
This move implies a potential detachment of the Saudi Riyal from the US Dollar.
The process is calculated and strategic, involving several stages outlined below.
1. Swap Lines: The Prelude to Ending the Petro-dollar
The initial step involves the official declaration of currency swap lines between Saudi Arabia and China. This move sets the stage for a broader transformation in the financial landscape.
2. Shifting to Yuan for Oil Transactions
The Saudis begin accepting substantial amounts of Chinese Yuan for their oil exports. This signals a departure from the traditional practice of exclusively using the US Dollar in oil transactions, challenging the established norm.
3. Breaking the Peg during Stable Oil Prices
Unlike typical scenarios where currency pegs break during crises, the Riyal is deliberately unlinked from the USD when oil prices are relatively strong. This strategic timing aims to minimize economic turbulence during the transition.
4. USD Substitution and Potential Economic Fallout
The substitution of the Chinese Yuan for the US Dollar becomes an existential threat to the US. As Saudi Arabia diversifies its currency reserves, the US responds by attacking the Saudi Arabian exchange rate, potentially triggering sanctions.
5. Sanctions Risk and Expanded Swaps
In response to the currency shift, the US may impose sanctions on Saudi Arabia. In anticipation, Saudi Arabia expands currency swap agreements, converting sanctioned USD assets into Riyal-based assets.
6. Loans Repaid in Chinese Yuan
China, a key player in this strategic move, provides loans repayable in Chinese Yuan. This reinforces China’s economic influence and helps Saudi Arabia navigate financial challenges post-sanctions.
Historical Context: Learning from Russia’s Experience
Drawing parallels with Russia’s 2014/15 experience, where an oil price collapse led to economic challenges, Saudi Arabia seems to be learning from history. Russia’s survival and subsequent blueprint may guide Saudi Arabia’s strategic decisions.
Russia-China Dynamic: A Blueprint for Yuan Expansion
China’s support for Russia during the ruble crisis, including a yuan-ruble swap line, serves as a blueprint for expanding the Yuan without causing runaway inflation. This strategic collaboration allows China to utilize its US Treasuries and dollar surpluses for loans to emerging market partners.
Saudi Arabia’s Motivation: Balancing Budget Amidst Oil Price Volatility
The Saudis face a unique challenge: despite low production costs, the government’s budget heavily depends on oil revenue. Breaking the Riyal peg to the Dollar becomes a solution, attracting foreign buyers offering alternative currencies for oil.
Saudi Arabia’s Pivot to Russia and China
The geopolitical implications of Saudi Arabia’s alignment with Russia and China become evident. This shift, triggered by a lack of trust in the US, positions Saudi Arabia strategically in a changing global currency and economic landscape.
Preparing for Currency Warfare
Saudi Arabia’s preparation for a potential economic attack on oil prices signifies a proactive approach to safeguard their interests. The kingdom is certainly preparing itself for a future being shaped by strategic currency decisions among new global alliances.
Supporting article: https://tomluongo.me/2023/11/24/what-are-the-saudis-really-preparing-for/
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Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
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https://ai3d.blog/goodbye-petrodollar-saudi-arabias-plan-to-decouple-from-the-dollar/
"RV UPDATE" BY BREITLING, 7 DEC
Breitling
Community Comment: "Obviously Iraq wants and is expanding their markets. The currency swaps with all these other countries are something new...Why now? Why would a country wish to participate with Iraq in a currency swap? For a currency worth 1/10th of a penny unless you saw the future of the dinar?"
Bingo. Not just the future of the dinar, it's the future of the market that's inside of Iraq. The reason you're seeing the tempo of the currency swaps inside of Iraq is because they're pulling all the currencies out that are competing with the local currency, which is Iraqi dinar. From the local markets they're trying to pull every currency out - Euro, Dollar, it doesn't matter. They're pulling it all out. You can only use the Iraqi dinar. This is very very good news for us that this is happening...
For Iraq it's not a question if more dollars are coming into Iraq, it's do the average citizens have access to them. That's what they're trying to fight...They want to take the dollar out so the supply times velocity of the dinar goes up.
Global Tax Reforms and Sanctions: A Comprehensive Review, 7 DEC
Global Tax Reforms and Sanctions: A Comprehensive Review
The U.S. Supreme Court commenced hearings in Moore v United States, a critical case that raises concerns over the constitutionality of a mandatory repatriation tax imposed on U.S. shareholders in foreign corporations in 2017. This case could potentially influence future tax legislation controlling domestic and global capital markets. A verdict is expected in the spring of 2024.
Taliban’s Taxation and Afghanistan’s Economy
In Afghanistan, the Taliban regime is heavily dependent on taxes and an amplified export of natural resources to finance its first annual budget. As a result, Afghans are bracing themselves for an increased tax burden on various activities. This comes as the Taliban government is on a mission to collect revenue to fund its operations.
Significant Changes in Bangladesh’s Income Tax Act 2023
In Bangladesh, the newly passed Income Tax Act 2023 brings significant revisions for individuals, companies, and start-ups. The act integrates tax exemptions on salary, removes minimum tax for e-TIN holders, and introduces a ceiling on tax rebates. The changes extend to include tax surcharge, taxation on dividend income, and reporting of assets and liabilities.
Constitutionality of Taxing Foreign Income
Simultaneously, the U.S. Supreme Court is examining a lawsuit by a Washington couple challenging a one-time tax imposed in 2017. The couple contests the constitutionality of taxing income from shares in foreign corporations. The outcome of this case could have vast implications for the U.S. tax code.
Forex Update and Sanctions
This report also brings an update on the Iraqi Dinar to United States Dollar conversion. The currency rates are frequently updated, providing accurate conversions for those in need.
The U.K. government has announced 46 new sanctions targeting individuals and organisations supporting Russia’s illegal invasion of Ukraine. Concurrently, the U.S. Department of Justice has filed war crime charges against four Russian nationals accused of torturing and unlawfully confining a U.S. citizen. The U.S. has also proposed a new plan for the release of two Americans wrongfully detained in Russia.
https://bnn.network/bnn-newsroom/global-tax-reforms-and-sanctions-a-comprehensive-review/
Iraqi Business Council President Announces Tax Reform Initiative, 7 DEC
Iraqi Business Council President Announces Tax Reform Initiative, 7 DEC
The President of the Iraqi Business Council recently announced an impending tax reform expected to increase tax revenues to 10% of the country’s national budget. The move aligns with broader economic reforms designed to enhance the efficiency and effectiveness of Iraq’s tax system. By revising the existing tax framework, the government aims to boost its revenues without imposing excessive financial burdens on individuals and businesses.
Unraveling the Economic Roots of Iraq
Prime Minister Mohammed Shia Al-Sudani attributed many of the challenges and problems faced by Iraqi society to economic causes. He stressed the necessity of adhering to imposed fees and taxes, supporting local products without circumvention. Economic reform, with a particular emphasis on tax reforms, has been a top priority for the current Iraqi government. The Prime Minister acknowledged the complexities involved in implementing tax reforms and highlighted the discrepancy between recorded import data and the International Trade Center’s data, suggesting tax evasion of approximately $26 billion.
Reforming Tax System in Iraq: A Conference with a Mission
The conference, “Reforming Tax System in Iraq”, aims to modify tax legislation, develop tax administration, rectify the imbalance in the tax work environment, achieve tax justice, and reduce the tax burden. It will also review tax and customs policies in Iraq. The conference will consider 12 winning research papers from various fields submitted by governmental, academic, private sector companies, and international organizations.
A Global Rethink on Tax Policies
In a similar vein, Saudi Arabia will offer a 30-year tax break as an incentive for global companies that relocate their regional headquarters to the kingdom. This tax concession move follows Saudi Arabia’s introduction of rules in 2021, requiring foreign companies to establish regional headquarters in the country by the end of this year or risk losing government contracts. On a global level, the World Health Organization (WHO) has suggested higher taxes on sweetened and alcoholic beverages to promote healthier behaviors, underscoring how tax policy can be a tool for broader societal goals.
https://bnn.network/world/iraq/iraqi-business-council-president-announces-tax-reform-initiative/
"RV UPDATE" BY PIMPY, 7 DEC
Pimpy
Not only is Iraq tackling infrastructure - fixing the 10th largest port in the world, opening up one of the largest roads for interstate commerce, in addition to that they're meeting with companies with the opportunity to do business with them and meeting with other countries for the opportunity to do trade with them.
As they continue to grow economically and become stronger...and they come up with alternative revenue outside of relying on oil if they could do away with corruption, stabilize their government, keep these idiots...from launching missiles at US soldiers, all this contributes to the strengthening of the Iraqi dinar and from there we'll start to see increases happening in increments as they go along.
Remember I told you I was aware that Iraq was sitting on the discovery of some oil fields and I had not heard anything about it in the news whatsoever...Trade Bank of Iraq receives shipments of US dollars, 7 DEC
Trade Bank of Iraq receives shipments of US dollars
Baghdad (IraqiNews.com) – A government source revealed on Thursday that shipments of US dollars arrived at the Trade Bank of Iraq (TBI).
The source told the Iraqi News Agency (INA) that shipments including millions of US dollars arrived at the TBI as part of its plan to meet the needs of its clients.
The source added that other shipments of US dollars are scheduled to arrive in the next few days.
A source in the Iraqi banking sector mentioned last week that new shipments of US dollars imported by Iraqi banks have arrived at Baghdad International Airport, explaining that the banks will use the shipments to fulfill the needs of customers.
In mid-November, a government official revealed that three private banks in Iraq received official authorization from the Central Bank of Iraq (CBI) to import US dollars to meet the needs of their clients.
The official confirmed that the amounts go up to $100 million, indicating that the CBI is studying additional requests submitted by other Iraqi banks to import US dollars.
INA reported that the TBI recently held important discussions with several international companies to transfer amounts reaching $120 million.
The CBI’s recent decision allowing private banks to import foreign currencies via commercial flights sparked controversy as Iraqi lawmakers and legal experts deemed it unconstitutional, according to The News Arab.
Officials from the CBI held intensive meetings with US officials in Abu Dhabi last month to discuss external transfers to cover imports.
https://www.iraqinews.com/iraq/trade-bank-of-iraq-receives-shipments-of-us-dollars/
A matter of a homeland.” A campaign to support the Iraqi dinar and make it the gateway to build the country, 7 DEC
A matter of a homeland.” A campaign to support the Iraqi dinar and make it the gateway to build the country, 7 DEC
2023-12-07 06:02Font
Shafaq News / Encouraging and dealing with the local currency under the current economic conditions in the country is an important issue, especially with the government’s tendency to “strengthen” the Iraqi dinar against other hard currencies, especially the dollar, as well as seeking to present it first in order to be a “issue of a homeland” in a real way.
In the government’s will to encourage dealing in the dinar in all daily transactions, the call to be a door to build the country again, and seek to strengthen and promote the Iraqi economy, and reduce dependence on other foreign currencies, so that according to government trends is fixed and the rest are variables, so that the dinar is a gateway to sustainable development and prosperity at all levels.
https://shafaq.com/ar/مجتـمع/قضية-وطن-حملة-لدعم-الدينار-العراقي-وجعله-بوابة-بنا-البلد
Coffee with MarkZ. 12/07/2023
Wednesday Evening News with MarkZ, 7 DEC
Wednesday Evening News with MarkZ
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Evening Everyone!! Hoping for some RV news tonight.
MZ: I received a great banking story today…..I edited out anything incriminating. A person from somewhere out west …they live in a 55 and over community. The next door neighbors were an older couple and are both employed and way up the chain at one of the major banks.
MZ: our member has been telling them for quite awhile about how currencies are going to change and there was going to be a reset …markets are going to crash …there is going to be unrest….ect…told them this for years…..and the neighbors told them they were nuts.
MZ: Well the banking neighbors came to our member and told them that everything they had told them was right. …They asked our member if they would help them plan and prep for this? And that last week they had a big meeting and told all the team leaders to possibly start looking for new jobs as the bank will not be needing nearly as many employees. That bank will possibly be cutting staff by 75%.
Member: I heard from a finance guy on New Years Eve the ATM’s will get loaded with new currency.
MZ: There is a whole lot pointing to the first of the year right now. But they still could get us all in and out before then. If they do let us exchange before they release it to the public….they would need us to sign very serious NDA’s.
Member: Mark it would be a lot easier if we had the RV money during the craziness
Member: Story: A friend of mine works as a security guard in a large building where there is a wealth management company. They have been having huge meetings well into the night with all the big bankers in the area.
Member: Are we possibly looking at weeks or longer now?
MZ: I think we may be looking at another week or two. But others think we are looking at the first week of January. We don’t know. All we can do is guess at it.
Member: I’m not looking for anything til January 1
Member: So wonder what the hold up is?
Member: There are a lot of rich and powerful people that don’t want this to happen
Member: So is Jan 1st our back wall date?
MZ: I believe there is a back wall date and its possibly the first week in Jan. But I am still hearing sooner than later.
Member: It’s only 18 days until Christmas.
Member: How did it from Dec 1 to the 15th and now Jan1st??
MZ: My Iraqi sources said the goal was for Dec 1st. They may be ready and we may be seeing it happening there already……I still think mid month ….but there are a number of people in other forums who think it’s the first week of January. I still think sooner.
MZ: “ BRICS 20 new countries applied to join alliance in 2024” This story was breaking today Becoming full members of BRICS on Jan 1st is Saudi Arabia, UAE, Venezuela, Iran . Egypt and Ethiopia.
Member: Interesting info from Frank26 stating the black street markets in Iraq will be closed down on the 19th…
Member: Saudia Arabia and Iraq made a deal today. And Putin was in the middle east as well.
Member: I’m still being called a fool, that all the hype is just that, but one day when I sit back on my huge porch, I will smile
Member: Tomorrow, Tomorrow, We’ll RV tomorrow, Annie song
Member: May the reason for the season bring you love hope peace and joy
"RV UPDATE" BY MNT GOAT, 7 DEC
Mnt Goat
This gets more and more exciting with each call to Iraq [with CBI contact]. So, we know from past conversations that Iraq wants and needs to continue the process of the financial reform plan, of which the currency reform is a part of and a VERY high priority.
Oh my gosh!!! I truly can hardly believe all the good news coming from Iraq this period. Maybe it's not the RV, as of yet, but I can assure you it is coming and there is no stopping it. It is like a loaded freight train coming fast down the tracks.
The [CBI] contact...told me thatthe rate is going to change very soon but not backwards only forwards, meaning to go up in value and not down. I was also told that as an investor we will like the final rate.
Again, it was emphasized to me that there would first be an in-country rate (close to USD 1 to IQD 1) during the swap-out in Iraq of the three zero notes and then later a new rate once the dinar is liberated back to the foreign currency exchanges and re-pegged. At this point the in-country rate goes away. There will NEVER be two rates...They wanted to make this point very clear to me that this is the process. When the in-country rate comes out there is little we, as investors, can do to exchange and our turn-out will come later, if we so choose to give up our dinars.