PART 2
Many people ask me why the US has to ship plane loads of actual dollars ($100 bills) to Iraq to disperse money to them from the DFI account. They ask why not just electronically send it? I like questions like this as this shows me solid thinking on the part of the investor. So let me explain. The following article says it all and so here is the article:
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America praises Iraq’s official ratification of the electronic payment system
The US Ambassador to Baghdad, Elena Romanowski, praised, on Tuesday, Iraq’s official ratification of the electronic payment system at the end of last April.
In her blog on the “X-Twitter” platform, Romanowski described this approval as “wonderful news.”
He added, “This step will pave the way for a modern financial system and economic growth,” noting that this ratification was “a joint effort by the United States Agency for International Development, the Central Bank of Iraq, and the United Nations Development Program.”
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WOW! WOW! WOW! What an article! 😊 Iraq is finally where it needs to be. I will sum up the answer of this above question asked of me of not using electronic payments to disperse DFI funds, with another question back to you. How can Iraq electronically receive transfer payments when:
1.Iraq did not even have the capability to electronically receive the funds and
2.nonetheless disperse the funds to make payments for imports electronically with hundreds of merchants?
This is why the implementation of the electronic payment capability is so HUGE in the banking reforms for Iraq and is praised so much by all the entities trying to help bring Iraq up to the 21st century standards and banking practices. This is why we see so many articles on the progress of this effort. It is needed if Iraq is going to trade on the open global markets and make and receive payments from other countries.
So, I am trying to relate these upcoming events to the process that needs to take place in the banking reforms sector. Do you see it now? It is simply a matter of time now. Any point in the process we can have the possibility of the project to delete the zeros executed and then followed by the reinstatement. But the process must play out. Get it? It is not about any singular event such as “seeing the new rate in the budget” or any other silly, stupid, conjured up event by these idiot intel gurus. As investors we must realize this is not a get rich quick scheme. It is a solid investment and you have to have the guts to “stay the course”.
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