Ismaik: The solution to the dollar crisis in Iraq is “very simple”, 19 MARCH

 Ismaik: The solution to the dollar crisis in Iraq is “very simple”

The economic expert, Hassan Ismaik, confirmed that the solution to the crisis of the high exchange rates of the US dollar against the Iraqi dinar is very simple.

Ismaik said in an interview with Al-Maalouma, “The foreign cash reserves that the Central Bank of Iraq owns are what preserve the value of the Iraqi currency, and because Iraq does not receive money except government money, and the private sector smuggles its money abroad.”

He added, “The Iraqi citizen does not trust the banking system in his country,” which means that there is a defect that must be fixed.

 Ismaik believes that "the solution is by placing the money obtained from the sale of crude oil, the main source of the Iraqi economy, as deposits in the central bank and attracting the hoarded funds." In the homes of Iraqis and also attracting the money of investors abroad, the private sector and investment companies.

Ismaik continued, “The success of the solution is linked to Iraq’s development of the banking sector systems and it being an open and not closed system. Reinforcing his vision with leading regional models such as the Arab Gulf countries.”

He pointed out that “there is enormous money coming from the people and the private sector, as well as investment companies.”
He added that “Iraq only needs development in the banking sector system, clarity in this system and not being closed, because when we say it is forbidden to transfer dollars, and it is forbidden to buy with dollars, and it is forbidden to exchange for dollars, your value will immediately lose and decline, and the currency will fall.”

Ismaik stressed that “the dollar crisis ends when there is a solid banking system, as there is huge amounts of money with the people in their homes, and if this money goes to... Banks will change the equation, and the money of Iraq is Abroad will range, at a minimum, between 200-300 billion in deposits in banks.”

Since the end of the year 2022, Iraq has been facing a crisis in the exchange rate of the dinar against the dollar, after the United States took a number of measures to restrict the use of... The dollar is in Iraq and its possession is limited to certain parties, as the exchange rate is witnessing fluctuations and instability despite the measures taken by the Iraqi government and the Central Bank to control the exchange rate. 

The dollar crisis has been accompanied by variation in the methods of its solutions and treatment, especially among those who see it as a crisis that expresses structural imbalances in the system. Iraqi monetary policy, and among those who believe that resolving it requires only responding to it in an intelligent manner.   link

Private Banking vs. Wealth Management: What's the Difference? by kimmyB via Bearded PatriotUSA telegram Room, 19 MARCH

 kymmiB

Private Banking vs. Wealth Management: What's the Difference?

Wealth management is a broader category that involves dealing with the optimization of a client's portfolio, taking into account their aversion to, or comfort with, risk, and investing financial assets according to their plans and goals. Wealth management can be practiced on a portfolio of any size, though, as the name implies, it is geared toward the well-off.

Private banking, by comparison, typically refers to an envelope solution for high-net-worth individuals (HNWIs) wherein a public or private financial institution employs staff members to offer high-net-worth clients personalized care and management of their finances .

https://www.investopedia.com/articles/professionals/111715/private-banking-vs-wealth-management-not-quite-same.asp

BREAKING NEWS Iraq to Build Peaceful Nuclear Program #iraq BY SANDY INGRAM

Iraq Is The Axis And Meeting Point Of East And West, 19 MARCH

 Iraq Is The Axis And Meeting Point Of East And West

 The first 03/17/2024     Baghdad: Huda Al-Azzawi  Experts and specialists in financial and economic affairs called for the implementation of a new strategy based on a different, modern economic philosophy pursued by developed countries in the process of

     diversifying and maximizing state revenues,

     attracting foreign investments and

     achieving development, by

restoring Iraq’s historical pioneering role as an axis, fulcrum and meeting point between East and West, and a vital corridor for trade. Global,  experts also called for increasing intra-trade with neighboring countries as  it is one of the pillars of the successful Iraqi economic strategy.

The Prime Minister’s Advisor for Financial and Economic Affairs, Dr. Mazhar Muhammad Salih, stated in an interview with “Al-Sabah” that  “Iraq is the point of communication between the European continent and the Gulf and Asian markets.”

He pointed out that  "before the country entered into trade restrictions more than fifty years ago, which included wars, conflicts, and a decline in infrastructure, Iraq was one of the best vital economic areas in the world that charts the international trade corridors that travel through it by land from the heart of Europe to neighboring markets and Asia by sea." Across the Gulf and vice versa. 

He explained,  "The Iraqi commercial corridors represent an ideal commercial attraction through which transit fees are collected, in addition to marketing technical and logistical services to trucks passing through Iraq's roads and ports."

 Saleh added,  "Maximizing intra-trade through (transit) trade will undoubtedly   achieve continuous financial returns and   provide an added business cycle that increases growth opportunities in the gross domestic product, and in linking Iraq to the global trading system as a major economic player in the region and the world."

For his part, political analyst Omar Al-Nasser pointed out, in an interview with Al-Sabah, that

“diversification of economic resources is an important philosophy that the countries of the developed world have begun to adopt, and

the experience of the European Union is the best evidence of that, especially those that suffer from weak possession of natural resources.”  He stated that

 “sustainable development and economic prosperity begin from the gate of

     reducing spending,

     maximizing revenues, and

     multiplying sources of income,” and explained that

“with a realistic look at the state of development, intra-Arab trade rates are still relatively modest and reach only 13.8%, and

they still need more efforts to overcome Unfavorable procedures and effects of customs measures and standards that account for more than 50% of Arab trade exchange, other than the Asian partner, which constitutes 54% of Arab countries’ exports.” 

Al-Nasser stressed that  "Iraq must have new ways in this field, and  think tanks and research must be sought and  their role in providing advice and giving a high dose of support must be sought by drawing up model policies that support this joint with regional neighboring countries at the very least, in order to

     strengthen Investments,

     creating job opportunities, and

     raising trade cooperation and international relations to high levels.” 

He added, "Iraq's invitation and adoption of a regional conference to stimulate intra-trade and remove the obstacles standing in the way of this joint will increase its standing among the countries of the region and create a real desire to establish clear-cut economic partnerships that will remove the spark of political differences and transform the Middle East region into a real international center of attraction and a mine for energy production." humanity, economy, and the kiss of the entire world.” 

He explained that  "Iraq's move to sponsor research, which has a major role in developing different strategies in the field of economic growth and prosperity, will contribute to

     raising the profile of sustainable development,

     strengthening international relations, and

     raising the level of opportunities for cooperation and trade exchange between the countries of the region."    https://alsabaah.iq/93584-.html      

LIFT SANCTIONS TO IRAQ BY MNT GOAT, 19 MARCH

 LIFT SANCTIONS TO IRAQ

..So, what else is in the news of importance to our investment? 

A member of the House of Representatives, Mohammed Al-Sayhoud, revealed on Thursday a government move to lift the US sanctions imposed on Iraqi banks, while stressing that the work of the Iraqi committees is continuing with the file of removing the US combat forces from the country. Why is this important news? 

I find it quirky how they tie these two issues into one article (lifting sanction on the banks with the removing of US combat forces). Are they trying to tell us something? Could it be that Iraq is pressuring the U.S. to relieve these sanctions  and in return let them have a longer military combat presence in Iraq? Sounds like it to me. It’s about time Iraq did some real negotiating for their own benefit. Will they, can they, also negotiate the release of the reinstatement of the dinar as part of a deal to allow the combat troops to stay in Iraq a bit longer? 

We know that Ali Alaq is not letting the proverbial “cat out of the bag” when he talks to the Finance Committee either. The CBI must be careful about speculators in the dinar, and he has told us this too already many times.

Remember that the sanctions put on the Iraqi banks, by the CBI, at the request of the US Treasury only prohibit the sale of the dollar by these banks. They can still do business with the dinar and other foreign currencies and are making money anyhow. However, through the sanctions the CBI and Treasury are trying to reverse the reliance of the banks to make money solely off the point spread of the buying the dollar beyond the CBI official rates. Get it? We read many articles on this already too. They must convert/reverse the bank revenues to other sources to get out of the currency auction business and into real banking practices, like all other banks in the world.

So, to comply and take these sanctions off these banks they will have to comply and deal in dollars ONLY at the official rate. They will also have to prove to the CBI that they are engaging in other forms to generate revenues to stay in business. Remember that banks are also a business and, like any other business, must also find ways to make a profit and generate revenues. This is what the CBI and the U.S. wants as part of the financial and banking reforms. They don’t want the banks to crash simply because they are stopping the currency auctions. Get it?...

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Iraqi Dinar-- IQD-- Dinar Update -100% Electronic - Real Effective Excha...bY MILITIAMAN

"THE BRICS AND THE US DOLLAR" BY GOLDILOCKS, 18 MARCH

 GOLDILOCKS

"BRICS Nations, Russia, and China, have joined forces to teach the US dollar an important lesson in International Markets."

This is a year that can be characterized as a "refactoring process" for the new Quantum Financial System. New codes inside Quantum Technologies are and have been in the process of being rewritten to determine trading percentages through artificial intelligence. Russia and China have joined forces in supporting new laws to govern these changes, and China is providing the Yuan for many of these purchasing transactions on their new digital payment system.

New local currencies being utilized instead of the dollar in trade necessitates many of the new changes taking place to level the playing field among countries who will now have new price pressures on their National currencies to demand shifts in pricing.

The new BRICS currency payment system will lessen the use of the dollar and bring forth more demand for currencies in the East. These demands will require currency rate changes.

As we get closer to the next BRICS summit, this is going to be a topic of interest for the conference. Each country that joins the BRICS Nations are expected to have a commodity-based backing for their currency giving real values to their Quantum Technological Mechanisms that will move their money.

New protocols will be written into the banking/trading system of the East that will scale on their new payment system in transactional trades between countries inside the QFS. CryptoDNES  Spiceworks

© Goldilocks

"RV UPDATE" BY WALKINGSTICK, 18 MARCH

 WALKINGSTICK

"ABOUT THE STATEMENTS RELEASED BY GOI RELATED THE IQD" BY WALKINGSTICK, 17 MARCH

 Walkingstick 

 There were a few statements released by the GOI officials regarding their currency.  The coming value at the onset of the release was revealed.  That value was disclosed at/in negotiations...

----

 [Iraqi bank friend Aki Update] 

They had a zoom meeting.  It was with the CBI, all other banks and US Treasury, IMF, everybody, they were all in this zoom meeting.  

They told him a lot but the only important thing...was I was told once again, 'We need you to be back at the bank because at anytime you are going to be very busy.'  Aki is just like you and I, sitting there waiting...

 [Iraqi Bank Friend called #1 Update - He owns 7 banks, 2 in Jordan] 

 About two weeks ago   we told you IOO the banks of Iraq were going to be receiving sample sheets/specimens. 

 They were very very precise pictures of the lower notes.  It turns out #1 has them. ..They started to practice and use them but they needed more help so they requested. 

 You will see this request on the CBI website probably within this week where they are requesting help with the security features in the small notes that they are practicing counting, sorting and training right now  ..

.The new software will be with them and the banks within this week.

https://dinarevaluation.blogspot.com/2024/03/iraqi-bank-friend-bank-story-by.html  

 [Iraqi Bank Friend called #1 Update - He owns 7 banks, 2 in Jordan] 

 About two weeks ago we told you IOO the banks of Iraq were going to be receiving sample sheets/specimens. 

 They were very very precise pictures of the lower notes.  It turns out #1 has them. ..They started to practice and use them but they needed more help so they requested. 

 You will see this request on the CBI website probably within this week where they are requesting help with the security features in the small notes that they are practicing counting, sorting and training right now..

.The new software will be with them and the banks within this week.  

https://dinarevaluation.blogspot.com/2024/03/iraqi-bank-friend-bank-story-by.html

Iraqi dinar 🔥RV Date And Time Done big alert for dinar holders 🔥Iraqi di...

Expert details of the International Agency {Fitch} report on the evaluation of the Trade Bank of Iraq, 18 MARCH

Expert details of the International Agency {Fitch} report on the evaluation of the Trade Bank of Iraq

The financial expert, the former head of the Financial Supervision Bureau, Salah Nouri, revealed on Sunday, the most prominent of the report of the International Credit Rating Agency {Fitch} on the evaluation of the Iraqi Trade Bank.

Nouri said {Al-Furat News} that: “The debts {loans} that are not on the recovery and the first of which is the bank’s debts to the Kurdistan Regional Government, and this debt since the bank’s management was assumed by Hamdia Al-Jaf and still, as well as the loans granted to many Iraqi companies supported by politicians {according to the agency’s information}.”
He pointed out that “there are risks about the bank’s ability to continue to be active because of the loans granted and non-refundable, and the government interferes significantly in the decisions of the bank’s management, especially as a provision in the Federal General Maronite Law that the bank should finance part of the general budget deficit.”
“The weakness of the bank’s administrations and the doubts about the credibility of the annual financial statements prepared by the bank, and an answer will be prepared by the bank’s management to the questions and evaluation grades issued by the credit rating agency,” Nuri continued.
“The report pointed out the possible repercussions of the reluctance to deal with the bank by international foreign banks as correspondent banks for government revenues,” he said.

From: Raghad Daham

https://alforatnews.iq/news/خبير-يوضح-تفاصيل-تقرير-الوكالة-الدولية-فيتش-الخاص-بتقييم-مصرف-التجارة-العراقي

"QFS CONVERSATION" WITH GOLDILOCKS, 18 MARCH

 GOLDILOCKS

New price changes across an entire Financial System requires new codes to be written into the system that emphasizes local currency dominance going forward demands monetary policy changes. 

This is why we are witnessing several countries move into a free floating rate exchange system whereby supply and demand determines their new currency values going forward. 

Morocco and Egypt are two of many countries moving to a free floating regimen in their currency payment systems. These shifts represent an alignment to, and for, a new Global Monetary System. 

The new Monetary System is backed by gold and other commodities with new codes being written into these Quantum Mechanisms that will begin forming new price correlations on the markets. 

For instance, new interest rates will be based upon local currency values instead of the dollar going forward. Gold held by each country as a reserve asset will minimize many of these variations on the market to stabilize Global Economies. 

This is an event that has been years in the making. And, this year marks the time and place for many of these transitions to begin. Some economies will be able to mobilize these new changes quicker than others, and it is important for us to watch as these new price formations begin to form on the markets. 

© Goldilocks

https://www.atalayar.com/en/articulo/economy-and-business/morocco-will-transition-to-floating-dirham-its-economy-grows/20240316060000197678.html

https://www.middleeastmonitor.com/20240315-floating-the-pound-in-egypt-between-alleviation-and-exacerbating-crises/

https://www.xm.com/research/markets/allNews/reuters/interest-rates-increasingly-important-for-currencies-53790298

Iraqi dinar🔥 sudani visit Us,The Final Step Of Iraqi dinar Rv | Iraqi di...

Iron and Steel Company: Iraq is on the verge of a major industrial revolution, 18 MARCH

Iron and Steel Company: Iraq is on the verge of a major industrial revolution

Economy News – Baghdad

The General Company for Iron and Steel in Basra Governorate revealed, on Sunday, the government’s agreement with a Chinese company to establish an industrial city with an area of 3,000 dunums, and while it considered that Iraq is about to a major industrial revolution, it confirmed that Prime Minister Mohammed Shia Al-Sudani is interested in supporting the iron and steel industry and supporting the local product.

The Director General of the company affiliated to the Ministry of Industry and Minerals, Abbas said, in a statement reported by the official news agency, and seen by “Economy News”, that “there is a great government interest and from the highest executive authority represented by Prime Minister Mohammed Shiaa Al-Sudani with industrial projects, which has been halted for more than two decades, and the General Company for Iron and Steel has stopped since 2003 before it re-works.”

He added, “Government interest does not depend only on the establishment of allocations in the budget law, but there is a personal follow-up from the Prime Minister and through the Minister of Industry and Minerals, for the development and progress of work and achievement and submits a monthly official position to the Prime Minister as he follows up and overcomes obstacles in many matters through quick decision-making and even direct contact with the concerned ministers.”

He added that “our company is not alone specialized in iron and steel, but there are companies in the private sector also producing the rebar material, for example, and we had a meeting with the Prime Minister about two weeks ago under the auspices of the Board of Advisors, and there is a special problem committee to follow up the development of the national industry and the fact that among the demands were the protection of the national product, and the government and the Council of Ministers were rightly supportive and decisions were actually issued to protect the national product, especially armature.”

He noted that “with the large reconstruction and construction movement and the trend to build more than one million housing units, there are existing factories in Iraq and new laboratories currently being built in several governorates, and there is a direction for the government to contract with one of the large Chinese companies in the field of iron and steel, and it was visited in China by a delegation headed by Minister of Industry and Minerals Khaled Batal, and I was one of the members of the Iraqi delegation, and now there are negotiations during this period and two days before there was a meeting in the Ministry of Industry and Minerals.”

He pointed out that “this week we also have meetings with the Chinese company, and this company has been granted three thousand dunums of iron and steel land, and a large industrial city will be built, and this is under the auspices and attention of the Prime Minister, and this will create a great industrial revolution inside the country in addition to the existing factories, including the iron and steel factory, to meet the local need not only at the level of prices, but also in consumer protection and the high quality of the Iraqi rebar produced in our company, and sometimes there is no control over border crossings and some types of rebar are entered that are not within the required specifications.”

He pointed out that “the iron and steel plant in Basra has stopped since 2003 and its energy after completing work in it will reach more than 600 thousand tons and the nodal capacity is more than 500 thousand tons, and we will start production with nodal energies,” pointing out that “during the next few months we will witness the opening of the steel factory that produces (pallet), which is complementary to the (rolling) factory and Iraqi production will meet an important aspect of the national need.”

https://economy-news.net/content.php?id=41584

"RV UPDATE" BY FRANK26, 18 MARCH

 Frank26  

 Article: "An economist identifies the "ideal solution" to reduce the dollar difference between the official and the parallel" 

 THE ONLY SOLUTION IS A NEW EXCHANGE RATE WITH LOWER NOTES... AND THAT'S EXACTLY WHAT SUDANI & ALAQ ARE SAYING TO THE CITIZENS OF IRAQ!

...JP Morgan representatives at a Chase Banks, why are they there?  And why do they have all of these cubicles that they're setting up? ...

They don't even say it's not a scam, they simply say when it happens we're ready for you.  The whole mantra/attitude is changing but it doesn't change all at once.  It's a slow process.   It travels from the east to the west...north to the south.  That information is slowly being given to everybody that is going to be involved in this exchange process.

The Prime Minister is going to Washington DC ...He's going to talk to the U.S. Treasury about the new exchange rate...He's talking to it with everybody.

Are We in the Window Now!💣RV/RI Date Released?!🤔Iraq Dinar RV Updates | ...

Mid-2024.. Iraq leaves government monetary dealing, 18 MARCH

Mid-2024.. Iraq leaves government monetary dealing

Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, set the date for Iraq to leave government cash dealing and switch to 100% electronic collection.

Saleh told Al-Rabaa, “Government collection began at the beginning of this year, and elec tronic payments have been adopted through cards in various forms, but it takes some time to prepare revenue institutions for electronic payment.”

He expected that “by the middle of this year, the government collection rate will become 100 percent electronic, after important institutions such as the Ministry of Electricity and gas stations begin it, in addition to the gradual adaptation of the rest of the institutions.”

He pointed out that “before the middle of the current year, there will no longer be a government institution that receives final cash, leading to the legal adaptation of electronic payment receipt with the Financial Management Law and the Accounting Systems Law, which are agreed upon and recognized in terms of conformity and compatibility.”

He stressed that “things are going well and accelerating, and the year 2024 will actually be (the year of electronic payment) in Iraq.”

https://alrabiaa.tv/article/81509/81509-%D9%85%D9%86%D8%AA%D8%B5%D9%81-2024..-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%BA%D8%A7%D8%AF%D8%B1-%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%85%D9%84-%D8%A7%D9%84%D9%86%D9%82%D8%AF%D9%8A-%D8%AD%D9%83%D9%88%D9%85%D9%8A%D8%A7%D9%8B

"RV UPDATE" BY TEXAS SNAKE, (ENGLISH & SPANISH), 18 MARCH

Friday March 15, 2024

Texas Snake: It says

Tonight I will be making some comments about myself and my participation in Seeds of Wisdom. I have been involved with Salty since the beginning of his creation of this educational forum to provide assistance in determining the facts surrounding this valuation and provide some direction on how one should prepare to optimize monetary gains once this VR occurs.

It has never been my intention to financially benefit or cut anyone off their resources. I say all this because some people are on the edge waiting for this exchange and the purpose of this note is to wait, as we are about to see the climax of this company.

There is no date or time, but the preparations that are being carried out point certainly in our direction. Stay safe and GOD Bless you all for at least reading this and putting up with me. 

-----

TRANSLATION SPANISH

Friday March 15, 2024

Texas Snake : It says

Tonight I will be making some comments about myself and my participation in Seeds of Wisdom. I have been involved with Salty since the beginning of his creation of this educational forum to provide assistance in determining the facts surrounding this valuation and provide some direction on how one should prepare to optimize monetary gains once this VR occurs.

It has never been my intention to financially benefit or cut anyone off their resources. I say all this because some people are on the edge waiting for this exchange and the purpose of this note is to wait, as we are about to see the climax of this company.

There is no date or time, but the preparations that are being carried out point certainly in our direction. Stay safe and GOD Bless you all for at least reading this and putting up with me.

Need the budget 2024 BY NADER FROM MID EAST

Al-Sudani: We succeeded in implementing the 2023 budget, and we must continue to complete economic projects, 18 MARCH

  Al-Sudani: We succeeded in implementing the 2023 budget, and we must continue to complete economic projects

Today, Monday, while chairing a meeting regarding the 2024 budget schedules, Prime Minister Muhammad Shiaa Al-Sudani stressed the importance of proceeding with the completion of economic projects.

Al-Sudani said in a statement reported by his media office and received by Al-Iqtisad News: “It is necessary to focus attention on projects that are nearing completion, and projects that drive the economic cycle and support infrastructure, in addition to projects that provide the largest number of job opportunities and meet the service, health and social needs provided.” On other general necessities.

Al-Sudani stressed that "the success witnessed in implementing the 2023 budget must be invested in completing the remaining economic projects, especially those related to aspects of economic reform, investment, and infrastructure construction in the areas of transportation, health, and municipal services, and supporting productive agricultural and industrial programs."

In the path of comprehensive development and administrative decentralization, he stressed “the importance of selecting projects with the highest priority in the allocations to governorate councils, and making the local targets of the governorates in a state of integration with the programs implemented by the federal ministries, which allows achieving the highest returns and results at the level of employment and development, and meeting basic services.” For all citizens throughout Iraq   link

"QFS CONVERSATIONS WITH GOLDILOCKS" , 18 MARCH

 GOLDILOCKS

XRP Trading Announcement:

XRP Trading Start on Exchange Registered with U.S. Treasury Department.

Atlantis Exchange Listing XRP.

In a recent post on X, Atlantis Exchange disclosed that it included XRP among its list of supported cryptocurrencies. Specifically, XRP commenced trading on the platform on March 17 at 5:00 AM UTC, with the trading pair USDB.

Besides listing XRP, Atlantis Exchange has issued a daring projection for XRP’s value. In particular, the platform asserted that users could witness a 100-fold value increase amid its list of XRP, urging them not to “miss out.”

At the same time, Atlantis Exchange highlighted that XRP is a crypto asset that facilitates cross-border payments. Also, it pointed out that XRP is the native currency within XRPL, a decentralized, open-source blockchain technology capable of settling transactions within a remarkable timeframe of 3-5 seconds.

Brief Summary from Goldilocks:

XRP is the only coin with clear legal status in the US. Just last year, the court declared XRP as a non-Security last year. 

XRP has been listed as a Stablecoin, but it's most frequent use going forward will be that of a liquidity coin. XRP began trading with this new peg just last week.

The USDB is pegged to XRP (see above announcement). This has allowed XRP trading to start on the Atlantis Exchange and be registered with U.S. Treasury Department.

This will allow XRP to be traded on banking and trading platforms here in the United States and countries abroad. It will give us the ability to form bilateral trade relationships inside the new digital asset-based trading system.

© Goldilocks

https://cryptonews.net/news/market/28727604/