LOP...people that are smart, economist, get this wrong. The underlying definition is hyperinflation. How do people fight it? By removing the zeros. Nothing wrong with that. It's smart. But it's hyperinflation. People will point out incorrectly, look at Iraq...
The best analysis I've read is that it [the dinar] was worth at it's height 2.25 to the U.S. dollar...Iraq has never had a customer problem. That's where you find the hidden value in this investment. It's not hyperinflation..
There is inflation but it's 100% policy based inflation. You had this currency that was worth a lot of money...What was their number one export?
Energy. Then war came along. You had war inflation. But did Iraq's customer base change? No. Did their oil producing output change? No, it went up. That's where you're going to find the value. That's where the value is coming from. That's it.
The US Energy Information Administration announced on Sunday that Iraq’s oil exports to America have increased over the past week.
“The average U.S. imports of crude oil last week from 8 major countries amounted to 4.832 million barrels per day, down 265,000 barrels per day from the previous week, which amounted to 5.097 million barrels per day,” the administration said in a schedule.
She added that “Iraq’s oil exports to America came in second place after Canada, where they reached 308 thousand barrels per day last week, up by 166,000 barrels per day from the previous week, which amounted to 142,000 barrels per day.”
The administration also pointed out that “America’s most oil revenues during the past week came from Canada at a rate of 3.458 million barrels per day, followed by Colombia with an average of 246,000 barrels per day, and from Saudi Arabia at a rate of 229,000 barrels per day.”
According to the table, “the amount of US imports of crude oil, from Mexico was at a rate of 208,000 barrels per day, from Brazil at a rate of 189,000 barrels per day, from Nigeria at a rate of 173,000 barrels per day, and from Libya at a rate of 21,000 barrels per day.”
It also did not import any amount of Ecuador and Russia.
Article: "Parliament's finance advises raising exchange rates again. Money about oil revenues?" They are talking about changing the exchange rate to 1500 for every dollar. That's the wrong direction. We don't want that to happen...I know the news is frustrating but that's what they were talking about...It's the same thing they talked about in December. So don't be surprised. Let's hope it goes in the other direction.
Question: "So you're telling me we should sell our dinar because it's about to lose us a lot of money?"
I'm saying we don't know what's going to happen. There's a possibility we can wake up tomorrow and it's 1 to 1 and they haven't deleted the zeros a lot of people are millionaires. There's a possibility we wake up tomorrow and they delete the zeros and we have to exchange it for the new currency and then they change it 1 to 1 and you're not a millionaire.
The U.S. International Development Finance Company (DFC) and the United States Agency for International Development (USAID) have signed a $50 million loan agreement for the National Bank of Iraq (NBI), with the aim of expanding access to funding for entrepreneurs.
Prime Minister Mohammed Shiaa Al-Sudani witnessed the signing ceremony of the agreement on the sidelines of the meeting of the Iraqi-American Supreme Coordinating Committee in Washington.
This loan, which was attended by the signing ceremony of the CEO of the American International Development Finance Company, Scott Nathan, and the Chairman of the Board of Directors of the National Bank of Iraq, Bassem Khalil Salem, is the first loan submitted by the US International Development Finance Company to a commercial bank in Iraq.
Following the signing of the agreement, Al-Salem said, “We are proud to be the first commercial bank in Iraq to sign a loan agreement from the United States International Development Finance Company and the United States Agency for International Development, and we see this partnership as an important step and a unique opportunity to support economic and investment growth in Iraq by enhancing the potential of entrepreneurs and increasing their access to the necessary funding to support their projects.
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Al-Salem thanked Iraqi Prime Minister Mohammed Shiaa Al-Sudani and international financial institutions for their continuous support to entrepreneurs and small and medium-sized companies, stressing the commitment of the National Bank of Iraq to achieve the common vision of the two sides to progress and prosperity in the country, pointing out that this agreement will be a strong incentive to achieve these goals.
The CEO of the US International Development Finance Company, Scott Nathan, affirmed the company’s commitment to unleash Iraq’s economic potential and empower its private sector by providing meaningful financial support for small projects, and said that “this announcement is an important step in the progress of our efforts, this investment will contribute to increasing the access of borrowers and entrepreneurs for the first time to financing across Iraq.”
For her part, USAID Iraq Director of the USAID Mission in Iraq, Elice Jensen, said, “Access to finance is the key driver in the innovation process, economic growth and job creation, so USAID support will enable private banks to overcome liquidity challenges and offer affordable business loans for small projects. Through our partnership with the National Bank of Iraq and the American International Development Finance Company, we will help create a more robust, diverse and inclusive private sector in Iraq.”
In turn, the Commissioner’s Director of the National Bank of Iraq, Ayman Abu Dheim, said, “The commitment of the Iraqi government to creating an environment conducive to growth, and the strategic focus of the Prime Minister and His Excellency the Governor of the Central Bank of Iraq on empowering small and medium enterprises, is a major focus in our reaching this important achievement. We are confident that this cooperation will support the creation of a more inclusive and dynamic economy in Iraq.”
This loan is expected to contribute to increasing the access of Iraqi small businesses to financing through Iraq’s largest private sector bank. This initiative will prioritize borrowers for the first time and will allocate funding for projects owned by women, and the increase in the number of small projects in Iraq.
In addition to the financing, USAID provided advisory services during the preparation of the project, to facilitate loan negotiations between the National Bank of Iraq and the US International Development Finance Company and accelerate the completion of the transaction, while the US International Development Finance Company is the official lender.
FRANK26: "SUDANI TOLD ALAQ TO TALK TO THE CITIZENS ABOUT THE MONETARY REFORM'S NEXT STEP NOW THAT HE HAS RETURNED!!!".........F26
Al-Sudani returns to Baghdad after concluding his official visit to America
4/24/2024
Prime Minister Muhammad Shiaa Al-Sudani returned to the capital, Baghdad, after concluding his official visit to the United States of America.
According to a statement issued by the Sudanese Media Office, the visit included a series of meetings, discussions, seminars, dialogue sessions and other activities, as follows:
■ Meeting with US President Mr. Joseph Biden
■ Receiving Secretary of State Anthony Blinken
■ Visiting the Pentagon headquarters and meeting with the Minister of Defense, Mr. Lloyd Austin
■ Receiving the Czech Prime Minister, Mr. Peter Fiala
■ Receiving the US Secretary of Homeland Security, Mr. Alejandro Mayorkas
■ Receiving the Deputy Secretary of the US Treasury, Mr. Wally Adeyemo
■ Sponsoring the signing of 18 memorandums of understanding in energy, economy, oil sector development and the pharmaceutical industry
■ Receiving a number of members of the House of Representatives from the Republican and Democratic parties
■ Receiving the Chairman of the Democratic Caucus in the US House of Representatives, Mr. Seth Molten
■ Receiving US Senator Democratic Senator Tim Kaine
■ Receiving US Senator Lindsey Graham
■ Receiving a number of former US ambassadors who served in Iraq.
■ Receiving the Chairman of the US Wheat Council, Mr. Vince Peterson
■ Receiving a JP Morgan delegation
■ Receiving the President of GE Vernova Energy Technology Company, Mr. Scott Strazik
■ Receiving a delegation from the American company Stellar Energy
■ Receiving a delegation from the American company General Dynamics
■ Receiving a delegation from the American company (Baker Hughes).
■ Receiving a delegation from Lockheed Martin, which is responsible for manufacturing F16 aircraft.
■ Receiving the President of the American company (Hanwell), Mr. Ken West
■ Receiving the President of KBR Sustainable Technology Solutions, Mr. Ji Ibrahim, in Houston
■ A number of major American companies specialized in the field of oil and gas met in the city of Houston in a workshop
■ A meeting with an elite group of Iraqi businessmen in the US state of Michigan
■ Receiving a delegation from the Baker Institute for Energy Studies and Research in Houston
■ A meeting with representatives of research centers specialized in Iraq and the region in Washington
■ Dialogue at the Atlantic Council Foundation in Washington, DC
■ Dialogue seminar at Johns Hopkins University in Washington
■ Meeting with a group of the Iraqi community in Washington, DC
■ A meeting with the Iraqi community in the American city of Houston
■ Meeting a large crowd of the Iraqi community at the Islamic Forum in the American state of Michigan
■ Meeting with a group of the Iraqi community at the Iraqi Chaldean Center in the US state of Michigan
■ An artifact dating back to the Sumerian civilization (2900-3000 years BC) was received from the Metropolitan Museum in New York.
■ Receiving the family of American citizen Kayla Mueller, who was kidnapped by ISIS terrorist gangs in the Syrian city of Aleppo in 2013, and was liquidated in 2015.
■ A meeting with representatives and correspondents of a number of Western media outlets in Washington
■ Interview with CNN
■ Interview with the American newspaper The Washington Post
■ A press interview with Al-Monitor
■ Interview with the Wall Street Journal
■ A television interview with the American PBS channel
■ Visit the Iraqi Embassy in Washington, and meet its employees.