Monday, February 12, 2024
Sudani cancels his visit to the UAE and apologizes to its president, 13 FEB
Sudani cancels his visit to the UAE and apologizes to its president
Shafaq News / An official source revealed that Iraqi Prime Minister Mohammed Shia Al-Sudani canceled his scheduled visit to the UAE, on Monday.
The source told Shafaq News Agency that Prime Minister Mohammed Shia Al-Sudani canceled his visit to the United Arab Emirates to participate in the World Government Summit, without knowing the reasons for canceling the visit.
"RV UPDATE" BY MILITIAMAN, 13 FEB
Militia Man
Iraq is moving towards going into a market economy...it's quite obvious...Tensions are the trade lines between Egypt and Jordan because of the Red Sea. There's been some chaos going on with different factions disrupting trade...Iraq's Development Road Project Article quote: "Iraq supports an alternative to the international transport lines that deliver good from the East to the West." Everything's coinciding at this time with the major international transport companies coming into play...
There's evidence the project to delete the zeros off the exchange rate is underway or is still on the table. It exists and that's because of who said it. We know Al-Alaq has said it and it's been referenced to one of his financial advisors...Saleh.
What I like about the Iraqi dinar...is there's progress and there's been progress... The bottom line is ever since Al-Sudani has taken the helm...things have progressed immensely.
We have adopted electronic payment and will list its companies in the trading market – Securities Commission, 13. FEB
We have adopted electronic payment and will list its companies in the trading market – Securities Commission
Baghdad – 964
The Securities Commission announced on Monday that the acceptance of cash payments is through electronic payment methods only, while revealing a trend to list electronic payment companies on the stock market.
The head of the authority, Faisal Al-Hims, said in a statement to the official agency, followed by the 964 network, that “the authority represents regulatory bodies on the Iraq Stock Exchange, and since the beginning of the Prime Minister’s directive, by taking steps to automate electronic payment and the ongoing operations in the market in general, the authority has been forming a working team to support this file.”
Al-Hims added, “The Authority has currently stopped accepting cash payments except through electronic payment methods as revenues in the Securities Commission.”
He pointed out that “the market is currently destined to use this mechanism through intermediaries operating in the Iraq Stock Exchange,” noting that “electronic payment companies are not traded in the Iraq Stock Exchange, but there are companies in various other sectors, including banks, that are present in trading in the Iraq market.”
He stressed that “there is a trend to list electronic payment companies on the Iraq Stock Exchange during the current year.”
"RV UPDATE" BY CLARE & YADA, 13 FEB
Clare
Article: "Saleh: Iraq is experiencing high price stability and the decline of parallel market noise "
YADASecurities Commission: Accepting Cash Payments Exclusively Through Electronic Payment Methods, 13 FEB
Securities Commission: Accepting Cash Payments Exclusively Through Electronic Payment Methods
Money and business Economy News _ Baghdad The Iraqi Securities Commission announced today, Monday, that cash payments are accepted through electronic payment methods, while revealing a trend to list electronic payment companies on the stock market.
The head of the authority, Faisal Al-Haims, said in an interview with the Iraqi News Agency, followed by Al-Iqtisad News, that “the authority represents supervisory bodies for the Iraqi securities market, and since the beginning of the Prime Minister’s directive to take steps to automate electronic payment and ongoing operations in the market in general, the authority has been working on Forming a working group to support this file.”
Al-Haims added, “The Authority has now stopped accepting cash payments except through electronic payment methods as revenues from the Securities Authority.”
He pointed out that "the market is currently heading to use this mechanism through intermediaries working in the Iraq Stock Exchange," noting that "electronic payment companies are not traded in the Iraq Stock Exchange, but there are companies in various other sectors, including banks, present in trading in the Iraq Stock Exchange." ".
He stressed that "there is a trend to list electronic payment companies on the Iraqi Stock Exchange during the current year." Views 101 02/12/2024 - https://economy-news.net/content.php?id=40379
"RV UPDATE" BY SANDY INGRAM, 12 FEB
Sandy Ingram
"Iraq's central bank revokes Iran's Bank Melli operating license" This article tells us the US is serious about not allowing Iran to have access to US dollars. It also tells us Iraq is serious about aligning with the US Treasury Department to maintain access to over one hundred billion US dollar of its money in the Federal Reserve.
Vietnam is making major financial news. Vietnam factory activity returns to growth status after the pandemic, tourist arrivals increased by 73.6% in January and retail sales are still growing for the 26th straight month. The inflation rate is at a five month low of 3.7%. Overall Vietnam has green lights on all growth patterns...Vietnam knows precisely what to do to bring the value of its currency back into the line of profit...
An Economic Expert Expects The Dollar To Rise Before Ramadan, 12 FEB
An Economic Expert Expects The Dollar To Rise Before Ramadan
Time: 02/12/2024 16:33:00 Read: 1,118 times {Economic: Al-Furat News} The economic expert, Ali Karim Idhib, expected today, Monday, that the dollar will rise before the holy month of Ramadan.
Idhib said {to Al-Furat News} that: “Despite the government measures and the Central Bank of Iraq to support the national currency, the reality is still different, as the exchange rates in the parallel market amount to 153 thousand dinars for every 100 dollars, while the official exchange rate is 132 thousand dinars.” ".
He added, "Which means there is a price difference of more than 20 thousand dinars. The reason for this lies in the limited supply of the US dollar and the difficulty of obtaining it by individuals or small merchants. This is what Baghdad seeks in a step to prevent smuggling and money laundering."
Idhib pointed out, "This step, despite its effectiveness, is somewhat harmful and has caused, as I said, a major shortage in the supply of the dollar, and the demand for it is increasing, especially with the demand of citizens during this period that is witnessing the disruption of official working hours and the departure of many Iraqis to travel to regions inside and outside Iraq."
He added, "In addition to the increase in purchasing power for shopping, as we are approaching the month of Ramadan, the market depends by up to 90 percent on imported dollars."
Idhib called for "implementing the policies adopted by the government of Muhammad Shiaa Al-Sudani, while liberalizing the factors for obtaining the dollar smoothly and according to certain ceilings for all citizens."
Selling prices in exchange shops in local markets in Baghdad today, Monday, reached 153,250 dinars, while purchasing prices reached 152,250 dinars. LINK
"RV UPDATE" BY WOLVERINE, 12 FEB
WOLVERINE
🇺🇸💥🇺🇸. Wow! Zimbabwe is one of the countries with a large amount of gold! The rates should be decent for the exchange. 🇺🇸💥🇺🇸👇👇👇
HAPPY MONDAY DEAR PATRIOTS 😎
The Super Bowl drama is finally over ✅
Here's something interesting I found today...
ZIMBABWE MAY BACK ITS CURRENCY WITH GOLD IN AN EFFORT TO END EXCHANGE RATE INSTABILITY
Zimbabwe's governor considers using gold to back his currency.
The Zimbabwe dollar has fallen almost 50% so far this year.
I don't have any notes from Zim, but I know some of you do and are holding out.
Economist: The Window For Selling The Currency Ends In 2024, And The Central Bank Will Devote Itself To Supervision, 12 FEB
Economist: The Window For Selling The Currency Ends In 2024, And The Central Bank Will Devote Itself To Supervision
Time: 02/12/2024 20:44:48 Read: 234 times {Economic: Al-Furat News} The economic expert, Abdul Rahman Al-Sheikhli, confirmed today, Monday, the end of the window for selling the currency during 2024, and the Central Bank will devote itself to supervision.
Al-Sheikhli said {to Al-Furat News} that: “The window for selling the currency is about to end during the year 2024, and cash sales are now few in relation to remittances, and there are more than 200 million dollars transferred for the purposes of importing goods from abroad according to the method of documentary credits, and this process excludes many problems.”
He added, "The Central Bank of Iraq decided to end the currency window process and adopt correspondent banks as an alternative. There will be a new mechanism to provide currency for transfers without returning to the currency window or the electronic platform."
Al-Sheikhly believes, “This mechanism will save a lot of effort and external relations. Therefore, the Central Bank will devote itself to the role of supervision and auditing and not enhancing the balances. It will also absolve itself of responsibility for the import process according to its law.”
He added, "There will be more than one external correspondent bank in different currencies according to the trade imported from the source. This will eliminate the problems, the most prominent of which is the process of leakage of funds from the Central Bank and banks to prohibited parties." LINK
"RV UPDATE" BY FRANK26, 12 FEB
Frank26
[Alaska Bank Story]
BANK INQUIRER: I called North Rim Bank, they didn't want to talk to me at all because they said I don't have an account. They said I would have to wait 90 days after opening an account before I could even exchange. We scratched that bank off the list. Then I called The Credit Union One and Alaska USA Credit Union. They told me neither one do exchanges.
FRANK: I suggest you need to go to a major bank ...Go to the state bank...
BANK INQUIRER: I called USAA Bank...they do not do foreign cash exchanges. Then I went to Key Bank...They do foreign cash exchanges in the bank. She looked up the currency and nothing shows yet...They do not have a De La Ru Machine they said they'd have to send it out.
Iraq Is Experiencing High Price Stability And The Decline Of Parallel Market Noise, 12 FEB
Iraq Is Experiencing High Price Stability And The Decline Of Parallel Market Noise
Time: 02/12/2024 15:02:46 Read: 949 times {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq “is experiencing a state of price stability.”
Saleh told Al-Furat News Agency: “The country is experiencing a high state of stability at all price levels, whether in terms of the general level of prices and low inflation growth rates, or in terms of the broad influence of the central exchange market and the foreign currency window in stabilizing the commodity supply prices of goods imported into the country and integrating “The capabilities of the official central exchange market in providing broad financing to the private sector at the fixed exchange rate for foreign trade of 1,320 dinars per dollar.”
He pointed to "high flexibility, whether in applying compliance procedures or in methods of external transfer in various currencies, which has begun to affect the decline of the parallel market and reduce the level of price noise that it previously caused on price stability." LINK
"RV UPDATE" BY PIMPY, 12 FEB
Pimpy
...You don't need to go to a Redemption Center...I bank out of Wells Fargo. I went in there, talked to my manager. He said this if the exchange rate is very large and you end up making a lot of profit off it, 'All you got to do is call, let me know when you come in or just walk in, wave to me so I see you and tell me that you're coming to exchange your currency. We will go ahead and run it through the machine to make sure it's not counterfeit...once we say it's all good we deposit it directly into your account.' ...They don't ask for a receipt. They don't ask where you got it from. They don't ask you about any of that...
I've been following the Vietnam dong closely. With all these corruption cases going on, we're talking about several politicians being sent to jail or going to court. With them cleaning up so much of their corruption I've really been paying attention to the markets and seeing if there's any news coming out about a possible change in exchange rate. I'm not saying it's going to happen but if these are the same people that's holding it down...hopefully they'll allow the exchange rate to increase...It's looking pretty good over there in Vietnam.
Zimbabwe to back its currency with gold, 12 FEB
Zimbabwe to back its currency with gold
Zimbabwe's Finance Minister announced new measures to stabilize its local currency in an online press briefing held Monday.
Zimbabwe to back its currency with hard assets such as gold to end exchange-rate instability, Finance Minister Mthuli Ncube said.
"The idea going forward is to make sure that we manage the growth of liquidity which has a high correlation to money supply growth and inflation.
The way to do that is to link the exchange rate to some hard asset such as gold," said Ncube.
He also announced a conference of African ministers that Zimbabwe will host at the end of this month.
Central Bank digital currencies Competition
China CBDC Pilot Program Beats West to the Punch.
Chinas Ministry of Commerce has announced the pilot run of the country's central bank-backed digital currency in major cities, including Beijing, Hong Kong, and Macau.
Bitcoin and Facebooks Libra cryptocurrency may eventually be in competition with central bank digital currencies.
Source:www.securities.io, www.forbes.com
Full body teleportation system patent
This invention is a system that teleports a human being through hyperspace from one location to another using a pulsed gravitational wave traveling through hyperspace.
Source:patents.google.com
Farsight Quantum Voting solution to Protect Election Integrity
An innovative new answer to the problem of election integrity has been developed that leverages the advantages of blockchain technology to provide one of the most remarkably sophisticated digital voting systems to date,
By relying on a crypto-tokenization system (in which every token represents a virtual ballot).
Farsight's platform relies on a principle of zero trust, eliminating the dependence on static voting mechanisms to provide equal power and authority to users, assets, and resources.
Source: www.marketwatch.com
Economists Discuss Russia, China Developing Gold-Backed Currency
Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar.
Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold.
Sources: news.bitcoin
Brazil is pushing to reform the World Bank and the IMF
Brazil's G20 presidency is focused on leveraging its influence to drive essential reforms within the IMF and the World Bank.
The nation aims to enhance the representation of emerging economies, including the BRICS nations, in these institutions.
Additionally, Brazil is exploring alternative financial mechanisms like the BRICS Bank to complement the existing global financial architecture.
This proactive approach seeks to create a fairer and more inclusive global economic order.
https://gesara.news/zimbabwe-back-currency-hard-assets-gold/
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 12 FEB
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: So far we are not seeing the lower notes but they talk to us about them every day. They just talk to us about them and why we'll need them.
FRANK: They are talking to you about the lower notes and coins because they are about to show them to you next week or the week after. I believe your bank friend will show you something in the sense of pictures...Take as many pictures as you can.
FIREFLY: A representative from the CBI is talking to us in great detail about the new coins they will be giving us with the new currency notes...He said to us once again, the process to delete the zeros is in the process. It made us smile. He said this process is occurring because the lower notes will not be needed if the rate wasn't increasing.
He said if the CBI didn't come out with these lower notes the monetary reforms would be a disaster. He said that's why we need a change in our rate...
Experts: The Dollar Crisis Will Only Be Solved Through The Private Banking Sector And Moving The Wheel Of Industry, 12 FEB
Experts: The Dollar Crisis Will Only Be Solved Through The Private Banking Sector And Moving The Wheel Of Industry
Economy | 02/11/2024 Mawazine News – Baghdad Economic affairs specialists have identified a number of factors that would control the exchange rate of the parallel dollar, stressing that granting the private industrial sector financial and administrative facilities could lead to moving the wheel of production and reducing imports that are financed with the parallel dollar from the black market, stressing The importance of doubling loans that would establish a production base capable of meeting the local market’s requirements for goods and materials.
Economic calls have increased remarkably, demanding that loans and credit facilities granted by banks to the private sector be directed towards activating and increasing production processes, indicating that these facilities exceeded 50 trillion dinars last year 2023, but they did not contribute to increasing gross domestic product rates, stressing at the time He stressed the importance of building more bridges of trust between investors, businessmen and companies with government and private banks with the aim of facilitating the granting of loans directed towards increasing local production.
The specialists' calls come at a time when the government has intensified its efforts to eliminate the rise in exchange rates in the parallel market, which has greatly affected the movement of buying and selling goods and materials in the local markets.
Following a package of decisions that contributed to closing the gap that occurred earlier between the official and the parallel dollar, A government source revealed earlier that electronic cards were issued to small merchants with a ceiling of $100,000 per month.
The new government step was met with economic welcome, which emphasized the importance of this measure in eliminating the significant rise in parallel exchange rates and reducing the jumps in the green currency, in addition to its importance in covering the prices of imported goods at the official dollar rate, thus achieving great stability in the local markets.
Economist Manaf Al-Sayegh believes that “a large part of the solution lies in establishing a large production base capable of meeting the requirements of local markets and blocking the path to import operations that require huge sums of money from the dollar,” pointing out the necessity of “developing a strategic plan that begins in the form of stages that include the advancement “The high quality of the industrial and agricultural sectors, which constitute the backbone of the national economy.”
Al-Sayegh also urged “the importance of the strategy including real steps to reform the banking and financial system in the country, and adapting it in a way that can be parallel to what developed countries have achieved in banking transactions, as well as moving towards reforms related to the trade balance, which can stimulate the movement of local production and exports.” National economy, thus significantly reducing the demand for the parallel dollar, pointing out that creating a balance between exports and imports is an important step to revitalize the national economy and enable it to achieve growth in all its sectors, thus diversifying sources and significantly reducing dependence on the oil sector.
In turn, the economic expert, Nabil Al-Marsoumi, explained that the decline of the dollar index against the Iraqi dinar is on its way to decline, pointing to the seriousness of the monetary authority in diversifying currency reserves, as well as expanding the circle of payments from other currencies, not to mention simplifying and concise access to the electronic platform. .
Al-Marsoumi stressed "the importance of resolving problems related to trade with neighboring countries, by finding other ways to trade with those countries in order to find a close price between the official and the parallel dollar."
The Governor of the Central Bank had confirmed that “the indicator of the success of any country’s monetary policy is controlling the general level of prices and reducing inflation,” explaining that “inflation has now decreased significantly compared to the beginning of 2023, which indicates that foreign trade is covered by the price.” And that foreign financing operations are taking place smoothly, and all importers and traders can obtain the dollar at the official rate and control it.”
Al-Alaq pointed out that “the Central Bank’s adherence to the rules and principles of external transfer in accordance with the conditions and requirements it set and its insistence on implementing them has prompted many hesitant merchants to enter the platform for selling foreign currency, especially since its use is easy and safe and it provides them with the dollar at the official rate.”
Al-Alaq pointed out that “the Central Bank confirms the possibility of meeting all requests for the dollar, whether personal, commercial, or any kind, as long as they are valid and legitimate.”
"RV UPDATE" BY CHANCE MCFADDEN, 12 FEB
Sun. 11 Feb. Chance Mcfadden
- “Today Sun. 11 Feb. the Bank was told there may be an event following the Super Bowl, which would be 10:00 pm Eastern. They are also being told there is most likely an announcement early next week.
- They don’t mention (or know) the specific content of both of these events. The Iraqi RV is finally posted and set for Sun. 11 Feb. and the Global Redemption Program starts Mon. 12 Feb. Buyers, Paymasters have funds just waiting to be liquid. Iraqi banks in the US began paying Iraqi citizens living in the US who are exchanging their old Dinar for US Dollars but rate is not known. The Federal Reserve says the rate is $4.81, which is the rate agreed to at Davos in January.
- “Was told the paperwork was just completed. The Iraq Government will reveal the new ‘lower denomination’ notes this week and then release the new Dinar Rate ($4+) to be published in the Government Gazette on Sun. 11 Feb. and then go on Forex this coming Mon. 12 Feb. – the same Mon. 12 Feb. that the Admiral is going to release everything.”
Middle East Economic Forum: Forging New Ties Among Iraq, Jordan, and Neighboring Nations, 12 FEB
Middle East Economic Forum: Forging New Ties Among Iraq, Jordan, and Neighboring Nations
"QFS CONVERSATIONS" BY GOLDILOCKS, 12 FEB
"QFS CONVERSATIONS" BY GOLDILOCKS
Current situation:
1. Stocks are trading like the Fed already cut rates
2. Bonds are trading like rate cuts aren't happening
3. Gold is trading like we are on track for a "soft landing"
4. Oil prices are trading like we are entering a recession
5. Housing markets are trading like nothing is happening
Nothing adds up here.
@KobeissiLetter
Iraq's New Dawn: International Companies to Revamp Baghdad's Transport Infrastructure, 12 FEB
Iraq's New Dawn: International Companies to Revamp Baghdad's Transport Infrastructure
"RV UPDATE" BY NADER FROM MID EAST, 12 FEB
Nader From The Mid East
Here's what I can tell you. When the dinar changes everybody will know. Everybody in the whole world, everybody knows about. It will be all over the news. When Iraq will be sovereign again, when somebody declare the end of war and everything, that's what's going to happen...
A lot of people's comparing Iraq with Kuwait. Kuwait is only 4,400,000 people...they have 104 billion barrels of oil. Iraq has 140 billion barrels oil and this is only with the 4 or 5 manufacturers. The other ones are not working yet. Iraq from here to 2025 will almost 300 billion barrel of oil...
Algeria is big and has a lot of assets but they have a lot less than Iraq and their dinar is stronger than Iraqi dinars. If you look a the Tunisian dinars, Tunisia has nothing...and their dinars are 3 to 1 - Three dinars to $1. My point is these people has nothing. They're coming out a revolution. They is a mess. It's completely a mess. They lost a lot. The private sector is a mess and its [their dinar] is still strong. Iraq, this rate is still a punishment rate...They have to revalue. If they revalue they're going to revalue 1 to 1.
We coming out from war. We coming out from the worst thing in our life. We just start to walk...We just start to grow...It almost collapsed but didn't collapse. It maintained itself and maintained himself stable...The only thing that destabilize the economy of Iraq is the war...Iraq is a very strong country...In a couple years Iraq is going to be one of the stronger countries in the world...Iraq is very strong.
Iraq survived the worst thing in their life. We survived 3 or 4 wars in the last 50 years. We survived it and each time we came back and we came back strong. This time we're going to come back very strong...Iraq economy never collapse by himself. Iraq economy always stable unless somebody else disable it for them. Iraq's economy is one of the best economy in the world and it's going to come back to the best economy in the world. The negative things about Iraq will never revalue, it's a scam, that's all bullshit. Iraq's going to come back one day and it's coming to come back soon.
https://dinarevaluation.blogspot.com/2024/01/we-coming-out-from-war-by-nader-from.html
"RV UPDATE" BY TEXAS SNAKE, 9 MAY
Wed. 8 May Texas Snake “ Well folks, a banker was provided with a specific date where he would have his trained exchange specialists in pos...
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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...
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TEXAS SNAKE Texas Snake, [03/16/2024, 10:17:58 a. m.]: Texas Snake, please forgive me I know this is long, but I’ve been waiting for two ye...
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RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...