Friday, March 1, 2024
Iraqi PM discusses investment opportunities with Turkey’s Limak, 2 MARCH
Iraqi PM discusses investment opportunities with Turkey’s Limak
On Thursday, Iraqi Prime Minister Mohammed Shia Al-Sudani visited a group from Limak, a Turkish corporation that specializes in transportation and building projects.
According to a statement released by the Prime Minister’s Office, Al-Sudani spoke with Limak’s owner, Nihat Ozdemir, the company’s investment and development potential in Iraq, particularly in infrastructure and transportation projects.
The two sides also discussed ongoing development projects in Iraq, including the Development Road and the Al-Faw Grand Port, as well as road, bridge, and industrial city projects in various governorates.
The Iraqi Prime Minister stated that the country’s investment climate has improved and become more welcoming, particularly after banking, administrative, and financial reforms were completed and the private sector was able to develop effective collaborations with international enterprises.
The Iraqi government has renamed the dry canal that connects the Al-Faw Grand Port in southern Iraq to Turkish territory via railway networks and highways as the Development Road.
It will stretch 1,200 kilometers from Al-Faw port town in southern Iraq to Faysh Khabur in the northern Iraqi governorate of Duhok.
The Development Road comprises a railway that will transport electric trains across ten Iraqi governorates.
In a joint news conference with the Turkish President in March, Al-Sudani emphasized that the Development Road symbolizes a worldwide corridor for the transportation of products and energy.
The Iraqi Prime Minister demonstrated that the project comprises a railway for transporting commodities, with a capacity of 3.5 million tons in the first phase and increasing to 7.5 million tons in the second.
Al-Sudani went on to say that the project would also feature a highway for land transport and energy pipelines, as well as the Al-Faw Grand Port and the industrial metropolis, which is predicted to be one of the largest in the Middle East.
The Iraqi Premier went on to say that the project will create many jobs in Iraq and other countries in the area, as well as chances for companies and merchants, and will serve as a hub for global commerce.
"RV UPDATE" BY FRANK26, 2 MARCH
Frank26
Parliament has no choice but to get on board of the bandwagon of the monetary reform. Now they constantly take false credit for the success of the monetary reform...Why are we in a position where [they're saying] 'Yeah, they're going to be giving you a new currency and they're going to float it.' Why? Because the auctions are no more for the pleasure of Iran to steal the future from the Iraqi citizens. Parliament has no choice because it's about to happen...Iraq is in a position to move forward.
This monetary reform, the next step which is vitally important in order for us to see what we're looking for, which is called the managed float, their currency matched at least to 1 to 1 with the dollar will be in an international basket...Back in 2005 Dr Shabibi said 'We aspire to bring the IQD back to the glory days of the 80's and 90's' Article: "The dinar and its three zeros - is it time to symak the dinar and return to the dinar 1980?" Dr. Shabibi, it's done.
"TALKING ABOUT THE PROJECT OF DELETE ZEROS " BY FRANK26, 27 FEB
Article: "Does deleting the currency’s zeros affect its value? An economist explains"
THE CBI IS SENDING TRUSTED ECONOMISTS TO EXPLAIN THE MONETARY REFORM EDUCATION OF DELETING THE ZEROS FROM THE EXCHANGE RATE! IMO they're about to give the citizens a new exchange rate with new lower notes to match...They already told them that process will then take that exchange rate, which will be at least 1 to 1 but I think is going to be higher, to float in the basket internationally.
Article: "The dinar and its three zeros - is it time to symak the dinar and return to the dinar 1980" IMO [symak means make]
What's so big about 1980?
So you want to return the dinar to the 1980's? By 1971, '72, '73, the Iraqi dinar on the international market was $3.778. Then...it was reduced on purpose to $3.2169 in 1980.
Iraq is one step ahead of us. The Iraqi citizens...are already taking their 3-zero notes and taking them to the bank and opening accounts because they know the monetary reform has educated them...All of a sudden bank accounts just exploded in Iraqi banks...
https://dinarevaluation.blogspot.com/2024/02/talking-about-project-of-delete-zeros.html
Oil rises, markets await OPEC+ decision despite mixed demand drivers, 2 MARCH
Oil rises, markets await OPEC+ decision despite mixed demand drivers
Oil prices rose on Friday and were expected to end the week slightly higher as markets anticipated an OPEC+ decision on supply agreements for the second quarter amidst divergent demand data from key customers the United States and China.
Brent futures for May jumped 27 cents, or 0.33%, to $82.18 per barrel at 0403 GMT, while U.S. West Texas Intermediate (WTI) for April advanced 20 cents, or 0.26%, to $78.46.
WTI is expected to rise by at least 2.5% this week, while Brent remains near last week’s closing price. Brent has remained comfortably over $80 for three weeks.
“Brent crude prices remained sideways this week. Brent at USD83/bbl has experienced recent gains, but fundamentals remain skewed toward oversupply,” wrote BMI analysts in a client note.
“The expectation that OPEC+ production cuts will continue into Q224 is also dragging on mood, as lackluster demand is projected to stay…However, time spreads for Brent futures contracts have widened. The shift to higher backwardation (market structure) would support a more positive perspective on prices, as markets anticipate tightening in the coming months,” the experts stated.
According to a Reuters poll, the Organization of Petroleum Exporting Countries produced 26.42 million barrels per day (bpd) last month, an increase of 90,000 bpd from January. Libyan output increased by 150,000 barrels per day from the previous month.
According to insiders, a vote to prolong the cutbacks is anticipated in the first week of March, with individual nations announcing their own decisions.
The possibility of Saudi-led OPEC+ sustaining production cuts beyond the first quarter, perhaps until the end of 2024, would likely push oil prices beyond US$80/bbl, according to Suvro Sarkar, DBS Bank’s energy sector team leader.
Supporting prices, the Federal Reserve’s favored inflation barometer, the U.S. personal consumption expenditures (PCE) index, showed January inflation in line with experts’ forecasts, keeping a June interest rate decrease in the cards. This, in turn, might reduce consumer costs and increase gasoline purchasing activity.
However, mixed February purchasing managers’ index (PMI) data from China, the world’s largest oil user, limited price advances.
China’s manufacturing activity fell for the fifth consecutive month in February, according to an official factory survey released on Friday, putting pressure on Beijing officials to implement further stimulus measures as factory owners struggle to find orders.
The official non-manufacturing purchasing managers’ index (PMI), which covers services and construction, increased to 51.4 from 50.7 in January, its highest level since September.
“Demand side we concur that 2Q will have hiccups and we are projecting Brent to average lower in 2Q24 compared to 1Q24, before rebounding in 2H24 on the back of the potential rate cut scenario, which should boost fund flows towards riskier assets,” Sarkar, of DBS Bank, said.
"EURO BANK AND INDIA UPI ANNOUNCEMENT" BY GOLDILOCKS, 2 MARCH
GOLDILOCKS
Euro Bank and India UPI Announcement:
"NPCI International Payments Limited (NIPL), a subsidiary of National Payments Corporation of India (NPCI), and Eurobank SA, a Greek bank, have signed a Memorandum of Understanding (MoU) towards enhancing cross-border payments using UPI rails."
The Euro Bank and and India's UPI has a Memorandum of Understanding (MoU) between them on cross border payments utilizing the Unified Payments Interface.
"The eurobank is a financial institution that accepts deposits and makes loans in foreign currencies." What makes this connection so important lies in the fact of the payment systems between them.
"As the private bank of the largest financial group in the world, Frankfurter Bankgesellschaft is both at home in Zurich and in Frankfurt am Main, rooted in both countries – Switzerland and Germany – and closely connected with city and country, culture and society at both locations."
Cross border Euro payments to and from Switzerland go through the Swiss Euro Clearing Bank in Frankfurt. This acts as the link between the two systems. These connections are of prime importance in uniting foreign markets to one of the most influx of money that moves through the world each day.
This gives us more access to foreign markets and foreign currency trades. Each day, we are witnessing various pieces of our global economy unite into what makes up the Global Markets.
These new connections make up new digital building blocks inside the new QFS. Gaps are being closed rapidly, and the need for stablecoins to purchase tokenized assets from around the world is becoming more and more important.
As Protocol 20 continues to expand uniting Quantum Technologies, look for stablecoins to become more in the forefront going forward.
© Goldilocks
https://www.cnbctv18.com/finance/npci-international-eurobank-sign-mou-to-facilitate-remittances-to-india-using-upi-19166991.htm
https://www.bis.org/publ/qtrpdf/r_qt2003h.htm#:~:text=All%20cross%2Dborder%20euro%20payments,link%20between%20the%20two%20systems.
https://www.swissbanking.ch/en/topics/market-access/relations-between-switzerland-and-the-eu
https://swiss-banking-lawyers.com/frankfurter-bankgesellschaft/#:~:text=As%20%C2%ABthe%20private%20bank%C2%BB%20of,and%20society%
The White House issues a position on revenue sharing between Baghdad and Erbil, 2 march
The White House issues a position on revenue sharing between Baghdad and Erbil
US National Security Advisor Jake Sullivan reaffirmed today, Friday, that his country supports the security of Iraq’s Kurdistan region, as well as the sharing of revenues and budgets with Baghdad.
According to media reports, Sullivan emphasized the United States’ support for the Kurdistan government and the Iraqi government’s efforts to reach an agreement on revenue and budget sharing that improves stability, good governance, and economic progress throughout Iraq and Kurdistan during his meeting with the Prime Minister of the Regional Government, Masrour Barzani, in Washington. American flags.
Last month, the Iraqi Federal Supreme Court ordered the Kurdistan Regional Council of Ministers to give over all oil and non-oil profits to the Baghdad administration.
"IMPORTANT IRAQ NEWS: WORLD TRADE CONFIRMS ITS ASPIRATION AND FOLLOW-UP OF THE STEPS FOR IRAQ TO JOIN IT" BY MNT GOAT, 1 MARCH
WORLD TRADE CONFIRMS ITS ASPIRATION AND FOLLOW-UP OF THE STEPS FOR IRAQ TO JOIN IT
The World Trade Organization confirmed, on Tuesday, its aspiration and follow-up of the steps for Iraq’s accession to it.
According to a statement from the Ministry of Commerce received by (Al-Rabaa), Minister Atheer Al-Ghurairi held a meeting with the Assistant Director General of the World Trade Organization, Zang Shank Shank, in the Emirati capital, Abu Dhabi, to discuss completing Iraq’s procedures to complete the required files, supporting reforms and legislation to be consistent with the market system, and strengthening the country’s economic capabilities to complete… Requirements for the next stage of the accession process.
Al-Ghurairi stressed, according to the statement, “the keenness of the working group on accession to continue by strengthening cooperation with the organization’s accession department and the head of the working group, Saudi Ambassador Saqr al-Muqbel, whose recent visit to Iraq provided great support for the efforts and steps taken by the national committee concerned with accession, which he chaired to complete all requirements in a manner that It achieves Iraq’s integration into the multilateral trading system.
The minister stressed “the hope that the efforts of the organization’s working group will focus on supporting the accession of important countries, including Iraq.”
Evening News with MarkZ, joined by Zester. 03/01/2024
"RV UPDATE" BY HARLEQUINC3, 1 MARCH
Harlequinc3
Question: "I don't have any receipts of currency i bought 14 years ago...is that a problem to exchange it when the event happens?"
Only in the event of an audit for taxation. The bank won't care in the slightest when and where you got your dinar -- as long as it's valid currency.
All the receipt proves is WHEN you bought your dinar -- which only matters to entities like the IRS, because the tax bracket for capital gains changes depending on how LONG you've had the asset. [Dinar Guru NOTE: Some gurus feel the exchange will be capital gains, others personal income, other not taxed at all. The only opinion that matters is the IRS's - At the appropriate time consult your tax advisor to determine the right tax for your unique circumstances.]
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The Governor of the Central Bank, Ali Al-Alaq, calls for making the private sector collection through electronic payment, 1 MARCH
The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed on Friday, the existence of great interest and interaction by Prime Minister Mohammed Shiaa Al-Sudani, to urge state institutions to pay electronic payment, while he pointed out that the volume of funds collected from state institutions indicates the success of the electronic collection project.
“We stand on an important station at the national level, which is electronic payment,” Al-Alaq said, noting that “the subject is related to economic, regulatory, regulatory and revital aspects in investing resources or funds instead of being outside the banking and financial system.”
He pointed out that “e-lectronic colley is an important pillar in activating electronic payment because institutions have the presence, multiple services, fees, wages and many services that can save costs, organize and control through electronic payment methods for which the Central Bank provides the infrastructure and makes them workable.”
He added that “there is an effort at the national level that requires concerted efforts of all institutions, and there is great care, attention and interaction from the Prime Minister, who is following up with the Central Bank and the concerned authorities to urge ministries and state institutions to interact with this great project.”
He stressed that “the figures mentioned in the use of electronic payment indicate that the launch was very successful, and reflect that the subject is moving in the right direction by including all state institutions concerned with the electronic payment application.”
He explained that “the figures reflected all state institutions and provided electronic levies, and the size of the funds indicates success,” expressing his hope that “the circle of application will expand to include all private sectors.”
He pointed out that “there is a great response from the private and public concerned economic unions and bodies to proceed with this large national project and its multiple episodes,” stressing that “the central bank is working at multiple levels in order to reach important leaps.”
BRUCE'S BIG CALL, 1 MARCH
Bruce’s Big Call Dinar Intel Thursday Night 2-22-24 REPLAY LINK Intel Begins 1:07:37
Welcome everybody to the big call tonight - it is Thursday, February 29th Leap Year, leap day - I'm getting choked up. And you're all very welcome to be here on the big call. Thanks for tuning in. We look forward to having a really good call tonight. Really good. I'm gonna do my Ed Sullivan right after turbo GGO an aerial photos of Kate Smith. So hang in there, Everybody. come on over, and we'll be right with you – a realllly good show – laughing Oh. okay.
I haven't done I haven't done Sullivan in a long time. I will. forget about it. Ha ha ha All right, so we're gonna have a really good time tonight. Thank you Stat team ha ha to all the people around the world and going, What is that guy doing, what is he saying?? I don't understand. I don't understand, because they're broadcasting this call throughout the globe in as many languages as there are countries. And so we appreciate that and see if I can get in my serious mode for a minute. Let's talk about the Intel.
Let's first talk about what occurred Tuesday night. I was not aware of this by the time the big call was on - that sometime Tuesday night in Reno. There was a meeting with six people, three of whom, we know, one was admiral – we know his name but we won't say it. The admiral - one was with a treasury representative of the United States and one other was, Judy Shelton. And she was there to talk about the USN asset backed US backed currency, our new currency and our USTN the physical currency. And there were three other representatives, three other people there. We're not quite sure who they were.
But it was held in Reno. They basically gave the admiral the green light to begin at a preselected time - I don't know what the time is - to notify the participants of his multiple groups.- A lot of people in those groups a lot of them - So even have not occurred today as we thought - Stay tuned - I’m sure they know exactly when they're supposed to notify their participants in the admirals group .
So that's in play. And remember, we've said Wells Fargo tier 4A the limit here for a which we categorize for the admiral to be in that group, and tier 4B the Internet Group, or a and b, there's no A B for Wells Fargo it’s just tier 4. So when we go they should go in they go, we should go. It's all kind of connected like that – Alright, so let's move forward to yesterday.
That was Tuesday. Yesterday was Wednesday. And I told you guys on Tuesday night, that there was a conference call that was going to take place between Wells Fargo corporate and that's approximately noon Eastern, so no later than 2:30 in the afternoon. It was a cut off time. So it's gonna go two hours to two and a half hours yesterday. The call took place and it was it was good, because we got some revelatory information after the call. And it was going to include all banks and that we're going to call it all banks that were Basel three compliant by that time, and it was a leader of two members from each bank and two members from each redemption center. Or to be participants on this video call.
Some would get the videos some would get audio only. But there was a call that took place - and one series of things that came out of that call, were the fact that Wells Fargo is promoting the fact that they are with the redemption centers - the go to location - because they have everyone trained in helping us to make a nice smooth transition from taking our currencies and exchanging them for the new USN designated currency - our new dollar. Or to be participants on this video call. Some would get the videos some would get audio only.
But there was a call that took place in the series of things that came out of that call, or the fact that Wells Fargo is promoting the fact that they are with the redemption centers go to location because they have everyone trained in helping us to make a nice smooth transition from taking our currencies and exchanging them for the new US in designated currency, our new dollar
They're also talking about even at the redemption center. If you went in and you had Fiat dollars, they would easily be - this is how it's worded. This is how it was worded – they would be able to exchange your Fiat dollars. Meaning USD, that gold backed, USN And it was worded as gold backed that we talked in terms of asset back because in our case, we have a majority of our USN and backed by gold. -but they're not going to supposedly - they're not going to say that we're back on the gold standard.
But they are going to talk in terms of our new dollar is asset backed We talked about the quantum financial system and they will be helping us to make our exchange and Zim redemption deposits into the quantum financial system, which is connected to the starlink system, and the fintec system. everything's all interconnected. So we'll have that in that very secure system. and then we can move money - so I told you we could move up to a billion dollars on day one of the exchange, into our primary wells account.
We will get the Titanium quantum card is three times the thickness of a normal credit card, which has those three chips - one will keep your information about your biometric fingerprint or second chip is opposed to cover the username and password in the third Chip, I believe is going to contain the amounts that you have in that quantum account. I think it's going to be like account of balance. Okay. We'll use that quantum card to move funds from your quantum account into your primary Wells Fargo account. And Wells is just saying that they are ready to facilitate the exchange for us and the redemption of zim.
And the fact that they are also in this in this call. What was transmitted was that the there would be a contract rate. I think the contract rate really only applies to the dinar and it's quite healthy, really very strong. And then the other currencies, they use the term of special rates, which means I think they're going to be a little bit flexible on some of the other currencies, not all but some - But also, it's going to be great for us.So that’s exciting that as part of what was said The other major thing that was not just for that call was that we should receive our notifications between tomorrow and Monday and exchanges between tomorrow - sometime - doesn't mean tomorrow - sometime between tomorrow and Monday We shouldn't have our numbers in the form of those emails that are going out or notifications by email -they have the 800 number and call center appointment and we should have our exchanges started by Monday. I'll go into detail on that just a little bit. That's really exciting.
That was a highlight that came off of that off of that conference call. Now, the other thing that's very valuable is that we heard today from one of our very strong Iraqi sources that the Central Bank of Iraq sent - that they actually called one of our Iraqi American contacts. They actually called where they sent them texts on their phone, giving them the new revalued rate on our dinar in country rate. This is coming from the Central Bank of Iraq.
the CBI has a new rate they sent to all Iraqi Americans they had on record the new rate – and it is a good in country rate. Nothing like the rate that we're going to go here. In fact, the rate that was on the front screen of the bank not even redemption center. The front screen of the bank was approximately four times higher than the in country rate in Iraq . So it was very strong and good to have - and we don't really do rates - But I'll give you just an example that was given today at 5:08pm. Eastern Standard Time.
So that was really very helpful to get that to get that rate – So Iraq has revalued they have an in country rate and tomorrow they start paying all salaries in Iraq at the newly revalued in country rate on the IQD So that is huge. And by the way, that's a first. That hasn't happened before. At this newrate. And so it's all good. It's very good. We're excited about this. So that came today, let's see what else came. Today let's see what else came.
We had another one of our sources in Iraq as well that called and said actually by text that said that we would we would be receiving our notifications in tier 4 – tier 4B is how we have it broken down that we will be notified with these emails either tomorrow, which is Friday, the first of March or Saturday the second of March we would receive notifications either Friday or Saturday. Now, if that's the case, if we do get it tomorrow, I'm not saying we will but if we do, give it a 5050 chance Friday or Saturday.
We get it tomorrow. we would set our appointments and exchange starting Saturday. If we get them Saturday, we will set appointments Saturday start exchanges on Saturday. Okay, and then we would go an exchange right through the weekend Sunday. You can set appointments for Sunday, Monday, Tuesday, Wednesday, Thursday and so on. Probably go for approximately two weeks, 14 to 15 days, especially in the high demographic areas where the population is more dense and where more people like Florida and Texas as California as well.
So we'll see But that is going to be what we have heard about they've been saying for something I don't know that they have actually printed - they have not put a rate for the Iraqi dinar in the Gazette So it could go in - I haven't heard this but if it didn't go tomorrow or Saturday I wouldn't say ahead of it. My day is probably Saturday.
That's the normal print day was the official publication of the Gazette So we shallan see on that So we're into the new month starting tomorrow. this could really kick off with a bang - I told you guys that restitution and reclamation allowance -. We start in March approximately a week after the USN comes out. Increasing social security takes place in March and should take place at the regular first, second, third of fourth Wednesday With the increase So we look forward to that Beyond that. I don’t know that there's anything else major - there's one little thing - you can - when you get your debit credit card from your Wells Fargo account, provided you exchange with them.
And you wi ll if you go to a redemption center, and you will get higher rates, but you're not going to get a contract rate. For example, at a bank, we only would get that at the redemption center - and the screen rates on the front and back at the redemption center are higher. But not going to worry about banks. That are not Basel three compliant. They will have to be compliant worldwide. They'll have to be compliant by the 12th of March. but it does not stop us from exchanging in a couple of days . So we'll see what happens.
But on your credit debit card with Wells Fargo, You don't have to put it in your name. you know where your name shows on the top of the card And really as a security feature. If you have an LLC already set up or your trust already set up to put your deposit into for your primary account. which the card would be attached to - you could use the name of your trust or the name of your LLC on the top of the card so that your name is your actual name. first and last name does not appear on the top of the card. And then when it comes to your signature. Make your signature as you normally would, or make it illegible whatever you just make your signature. And that's what we show up on the backside of the card. That's not your quantum card.
This is your credit debit card that you get from Wells Fargo attached to the primary account. Okay, just a little heads up on that. Let's see if there's anything else - This is something that I think we all are ready for this to take place. Now listen, we know what information has shifted - We know that things have morphed into March right now. This is really coming down to the proverbial wire. I think we're lined up and ready to start.
But don't expect anything to take this thing and delay it. We really think we're finally at the point where this can move forward - And every indication is that it's a go - we're getting out of Iraq - we finally finally - we find out today that we have the newly revalued dinar rate in country. - And it happened in 5:08pm today. – Eastern Time - and we got confirmation directly from our Iraqi American contacts at 5:08pm. Eastern time today.
That's a first -- so we're all excited and ready to go. I just want to pray the call out and say thank you everybody for listening internationally - Thank you Sat team for putting out the call piggybacking on the starlink satellite system. Thank you for just everything that everyone has done, that Bob has done, Sue has done for the big call and everybody that you know, Pastor Scott, your helpfulness and Jeannie your helpfulness on every Tuesday and Thursday nights And thank you for GCK in the background has done all the hard work and graphics and thank you, listeners, all of you Millions 10s of millions of you that are getting the call or hearing the call alive and those of you who are catching it on the replay either through the link or through the replay number. and thank you guys for being faithful to listen to us for. We're in our 13th year we're two months in to our 13th year. Good night everybody –
"IMPORTANT IRAQ NEWS:MINISTER OF COMMERCE OF IRAQ, HAS CONFIRMED THAT IRAQ HAS COMPLETED THE REQUIREMENTS TO JOIN THE WORLD TRADE ORGANIZATION (WTO)" BY MNT GOAT, 1 MARCH
MINISTER OF COMMERCE OF IRAQ, HAS CONFIRMED THAT IRAQ HAS COMPLETED THE REQUIREMENTS TO JOIN THE WORLD TRADE ORGANIZATION (WTO)
ABU DHABI, 27th February, 2024 (WAM) — Atheer Daoud Al Ghurairi, Minister of Commerce of Iraq, has confirmed that Iraq has completed the requirements to join the World Trade Organization (WTO) after completing economic reforms and improving the business environment.
In statements to the Emirates News Agency (WAM) on the sidelines of his participation the 13th Ministerial Conference of the WTO, Al Ghurairi pointed out that the trade in goods and services files have been finalized according to the set schedules for integration into the global trade system.
Al Ghurairi said that the interest of the Iraqi government in joining the WTO after Iraq submitted a request to join in 2004, in the belief that it is important to be part of the multilateral world trade system and for Iraq to return to an influential position in the global economy. He pointed out that there will be a meeting at the level of Arab countries to learn about their experiences before joining the organization and ways to benefit from its advantages.
The Iraqi Minister of Commerce stressed the importance of the events of the conference held in Abu Dhabi, which is witnessing a successful organization by the UAE. He stated the conference sends an important message to all countries of the world about the importance of joining this organization, in addition to its role in discussing the future of the global trade movement according to current challenges.
Al Ghurairi mentioned Iraq’s plans to enhance economic and trade ties globally, aiming to establish new avenues for cooperation in these sectors.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/