Freedom Fighter ©️
July 9, 2024
💥Cryptocurrency to be considered money 💰
💥Iraqs ports are digitizing - new rate will be required - “eventually”
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🟠GOLDILOCKS article breakdown
🏆Iraq testing the IQD in the FOREX market ‼️
💥Directly from the CBI
Activity transactions on the (FITR) platform"
Iraq is now showing transaction activities on the FITR platform. FITR are Exchange Traded Funds that come under the category of cross currency swaps.
Currency ETFs are exchange-traded funds that track the comparative value of a currency. These investment mechanisms allow people like you and me to gain exposure to the forex market.
"Cross-currency swaps are commonly used for fixed income investments where the cash flows are known with a high degree of certainty. Hedging currency risk with a cross-currency swap effectively creates a synthetic local currency denominated bond by converting the bond’s foreign currency denominated cash flows or risk into a stream of local currency payments. Cross currency swap hedging strategies can be tailored for either active strategies or passive buy-and-hold fixed income strategies."
Here is how the above quotation works. The Exchange Stabilization Fund (ESF) of the U.S. Department of the Treasury can purchase or sell foreign currencies.
The ESF also includes Special Drawing Rights (SDRs), which are international reserve assets created by the International Monetary Fund. The ESF can also enter into "warehouse" swaps with the Federal Reserve System.
The Federal Reserve has a repurchase facility for foreign and international monetary authorities, also known as the FIMA Repo Facility.
This allows foreign account holders to temporarily exchange Treasury Securities for dollars to meet potential liquidity needs.
"According to TreasuryDirect, Treasury Bills, Notes, Bonds, TIPS, and FRNs are transferable, so you can buy or sell them in the secondary market."
Yes, foreign currency, also known as forex, is traded on the secondary market, which includes equities and fixed-income instruments like bonds.
The foreign exchange market is a decentralized, over-the-counter (OTC) marketplace that determines the exchange rate for currencies around the world.
Let me end this dialogue where we began it. And, this is a direct quote from the CBI website, "Activity transactions on the (FITR) platform."
This gives us an idea of how close we are. Let me be clear, we do not know if these are testing transactions or actual transactions at this time. But, we do know they are in training for the use of this trading mechanism for a reason.
© Goldilocks
https://cbi.iq/news/view/2616
https://www.sec.gov/divisions/marketreg/mr-noaction/fitr110102.htm
https://www.schwab.com/etfs/types/currency-etfs
https://www.slcmanagement.com/ca/en/insights/all-insights/currency-risk-management-for-foreign-fixed-income-investments/
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