FRANK26: "THIS WOULD NEVER HAPPEN ... UNDER A PROGRAM RATE"..........F26
The Governor of the Central Bank of Iraq meets his counterpart in Riyadh
May 16, 2024
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, met with His Excellency the Governor of the Central Bank of Saudi Arabia, Mr. Ayman bin Muhammad Al-Sayyari, on the sidelines of the Arab Forum for Anti-Corruption Bodies and Financial Investigation Units held in the Kingdom of Saudi Arabia. During the meeting, the two sides stressed the importance of the role played by central banks in confronting economic challenges, ensuring macroeconomic stability, and supporting economic growth. The two parties discussed prospects for cooperation between the two sides in various monetary and banking fields, with a focus on the importance of developing banking relations between the two brotherly countries.
Central Bank of Iraq Information Office May 16, 2024
The budget doesn't work at 1300 to 1 or 1310 or even 1320. It's doesn't work at 1160 for crying out loud let alone 1460. Why is it going to work today? It's not.
The United States of America said they supported Iraq having accession to the WTO...Saudi Arabia...did 15 years worth of work, in a year, to help Iraq...All the requirements for joining were completed...Now the IMF directors welcomed renewed efforts towards WTO accession..
Saleh says if you do a float it's dangerous, it's going to turn out to be unruly...He also said he's going to have a mixed or managed float, which is going be stabilizing...They had about 4 articles about that...Why are they saying it and giving one specific option? Because that's what they're going to do...All the different ways of doing it were negative but the one [positive one] was a managed float. That's a mix between a floating currency and a fixed. They manage it and that's the most stable...
Iraq's President on Raisi's death: we stand by the Iranian people
Shafaq News/ Iraqi President Abdul Latif Jamal Rashid offered his condolences on Monday following the deaths of Iranian President Ebrahim Raisi, Foreign Minister Hossein Amir-Abdollahian, and their companions in a helicopter crash in northwest Iran.
"We extend our heartfelt condolences and sympathies to the Supreme Leader of the Islamic Republic, Ayatollah Sayyed Ali Khamenei, and the leadership and people of the Islamic Republic," Rashid said in a statement.
"We affirm that Iraq stands by the Iranian people during this difficult time."
The Iranian President, Foreign Minister, and another seven were found dead at the site of a helicopter crash after an hours-long search in the northwest of the country.
Raisi was returning from the inauguration ceremony of a joint border dam with Azerbaijan, where he had met Azerbaijani President Ilham Aliyev earlier on Sunday.
Black banners have been flown on top of the Imam Reza Shrine in Mashhad and the dome of Fatima Masumeh Shrine in Qom, the two holiest cities in Iran.
According to Article 131 of the Iranian Constitution, in the event of the President's death, the First Vice President temporarily assumes the presidency with the approval of the Supreme Leader.
Vice President Mohammad Mokhber will assume powers after Raisi's death.
In addition, the Constitution requires a committee consisting of the Speaker of the Parliament, the Chief Justice, and the First Vice President to prepare for the election of a new president within a maximum of 50 days.
[via PDKI] Many banking sources are expecting big things this week. Some expect things as early as today. Many bankers are upbeat about today and this up coming Memorial day weekend. …But, There is a lot of smoke out there.
Fri. 17 May 2024 MarkZ:“On May 22nd,(This is from the IRS but other government agencies are also doing thi) they will be conducting emergency alert tests nationwide to all their employees on text messaging, email and laptop notifications. So they are prepared for
May 22nd.
MZ From a member:“Now in one of the top banks here in the country – they are very clued in on currencies. When they found out the amount of the currency they had they said “We need to sit down with you- but we can’t sit down with you until the22nd.Our key people for wealth management are in training for foreign currencies and exchanges – but we want to sit down with as soon as they back from training.”
MZ:Now this doesn’t mean the RV will happen on the22nd.But the bank can’t talk to them now even though they want to talk to them….until May 22nd. So- the top wealth management at a big bank with a big wealth management arm-and they get back from foreign currency exchange training on the 22nd –This is a great “tell.”
Central Bank Governor Ali Mohsen Al-Alaq announced on Sunday the start of the second phase of the banking sector structuring plan.
The media office of the Central Bank of Iraq said in a statement received by “Economy News”, that “Al-Alaq received a delegation from the World Bank headed by the Regional Director for Fair Growth, Financing and Institutions for the Middle East and North Africa region, Nader Mohammed,” pointing out that “during the meeting, they discussed strengthening bilateral relations between the Central Bank of Iraq and the World Bank, especially the restructuring of government banks, and the launch of the Riyada Bank project and its economic and social importance. The two parties also discussed the experiences of neighboring countries in facing climate change and its impact on the national and regional economy.”
He added, “The meeting discussed medium and small projects and their support by the Central Bank, the development of the financial and banking sector and non-bank financial institutions, financial markets and the insurance sector, as well as benefiting from the World Bank’s experiences in digital transformation, financial inclusion, and digital banks,” noting that “the governor reviewed during the meeting the plan of the Central Bank of Iraq in structuring the banking sector,” noting that “this bank completed the first phase of the plan, and began with the second phase.”
Al-Alaq stated – according to the statement – that “the Board of Directors of the Central Bank licensed the Green Bank, which will be the nucleus of renewable energy initiatives and sustainable financing,” revealing “the direction of the Central Bank of Iraq to license a number of digital banks.”
Iraq Council of Ministers Did Approved/Amend The 2024 Federal Budget During The “extraordinary session” & Will Send It To Parliament “Within a Week”.
However Parliament Might Need An Extra “2-4 Weeks” To Approve It.👇🏾
Remember Sudani Gov’t Is Buying Time As (HOR)Parliament CANNOT Approve A Damn Thing From The 2024 Budget Without The DINAR RATE CHANGED To Give Actual Figures To The House Of Representative(HOR) For Approval.
💥💥As Ariel
@Prolotario1
Mentioned To Me ~ It's The Parallel Market That Is The FOCUS & Once It Reaches The Official Price Then We Will See The Moves Necessary For Everything Else To Fall in Place. ⬇️
(i wonder if the the now deceased Iranian President Raisi had his hands in or anything to do with the parallel/black market)🫣
*ONLY A SELECT FEW KNOWS THE EXACT DATE & TIME OF THE IRAQ DINAR REINSTATEMENT!!! THE DATE IS SET imo- #weareclose
🗣️…LFG🔥🔥🔥
9:14 AM · May 20, 2024 https://x.com/smoothrey/status/1792544353904128404?s=46&t=CS6-i2hF8lyfSpP5nwHWvw
Does "dollar dominance" threaten the global economy?
In the world of an intertwined economy with multiple competing powers, the dominance of the US dollar remains a pivotal issue that raises many questions, at a time when the dollar plays a major role in the international financial system, as it participates in the majority of international transactions and constitutes a large portion of global reserves, and this situation gives the United States power. tremendous economic and political potential, but it comes with increasing challenges and risks.
With the rise in US interest rates and the strengthening of the dollar, pressures have begun to appear on international transactions that rely heavily on the US currency.
These pressures not only affect emerging markets, but may also lead to radical changes in the global financial system. With increasing talk about alternatives to the dollar by members of the BRICS group, for example, there is renewed debate about the future of the dollar’s dominance and whether it will continue in light of the mounting economic and political challenges.
Sovereign debt
In a related context, Joe Yark, head of the global markets department at Cedra Markets, says that the US dollar represents 58 percent of global reserves, and represents 70 to 80 percent of the volume of global trade, in addition to the pricing of oil and basic commodities in the US dollar, which makes it have an impact. Mainly on the global economy.
Yark points out that the steps taken by the US Federal Reserve, whether tightening or easing monetary policy, of course affect global banks, which is evident with regard to raising interest in recent periods to combat inflation. He explains in this context that:
* The US Federal Reserve is playing a positive role at the present time. It is considered a “tempo officer.”
* The huge US debt and the risks resulting from sovereign debt are the only fear.
* The US Federal Reserve’s decisions due to its excessive debt, and the so-called “global debt bubble” which exceeded $315 trillion, negatively affect the global economy.
* Markets are affected by the Federal Reserve’s decisions to raise interest rates, which hampers the economy in these countries (..), which are forced to pay additional costs to purchase goods.
Dollar dominance
From London, economist Anwar Al-Qassim says, “The dominance of the greenback currently appears more fragile than it seems, given the expected changes in the dollar’s exchange rate system and its eroding international standing in favor of multiple international currencies.”
We are witnessing a clear shift. When most Asian countries follow China, along with countries such as Russia and the BRICS countries, the dollar, which currently represents the base currency for about two-thirds of global GDP, may end up losing approximately half of its value.
During 2023, Russia and China transferred more than 90 percent of trade to the yuan and the ruble, which demonstrates the almost complete elimination of the dollar in economic relations between the two countries.
He added: “China is now considered an economic giant, not only in terms of production and exports, but also in terms of the size of its financial sector, which is currently the largest in the world, with the value of its assets amounting to 60 trillion dollars...while the total American debt to the federal government exceeds 34 trillion dollars.” This is a record number that foretells the upcoming economic challenges and the future of the dollar.
He stresses that while it is not entirely clear that the dollar will be eliminated as the primary means of exchange anytime soon, abolishing “dollarization” has become a strategic option for many countries, led by Moscow and Beijing. link
************
Tishwash: Washington is delaying its withdrawal from Iraq, and Baghdad is “evading”
Despite the many demands from some political forces and the Islamic resistance in Iraq to remove American forces, the government position is not at the required level regarding this issue.
Recently, Prime Minister Muhammad Shiaa Al-Sudani visited the United States and met with its President Joe Biden, while it was agreed to transform the relationship from military to economic and commercial based on trade exchange in various fields! .
Regarding the issue of removing American forces from Iraq, Representative Mahma Khalil said in an interview with “Al-Ma’louma” that “the law to remove foreign forces from Iraqi territory falls on the responsibility of the federal government,” stressing that “the law will work to remove every soldier, trainee, and advisor.”
Khalil called on "the government to work seriously on this issue and to expedite sending the law regarding the removal of American forces from Iraq to the House of Representatives for the purpose of voting on it."
*An explicit government position
In the same context, political analyst Sabah Al-Ukaili confirmed that the Iraqi government is not serious about the issue of removing American forces from the country.
Al-Ugaili told Al-Maalouma: “The political forces and the Iraqi government are not sincere in the issue of removing American forces from Iraq,” indicating “the American forces are not serious about leaving Iraq.”
He added, "The Iraqi government is evading this file despite the resistance factions' mandate to Prime Minister Muhammad al-Sudani," noting that "if the factions do not sense the seriousness of the Iraqi government in this regard, they will have another position "
He explained that "the method of the American military forces often violates the autonomy of the Iraqi state, most notably targeting the leaders of the Popular Mobilization Forces and other targets," calling on "the government to take a strict and resolute stance on this issue and to stay away from patchwork solutions and procrastination.”
For his part, the Chairman of the Parliamentary Security and Defense Committee, Karim Aliwi, confirmed in an interview with Al-Maalouma that “the talks taking place between the Iraqi and American delegations regarding ending the tasks of the international coalition forces are among the committee’s most prominent concerns,” noting that “the government asked the committee to be neutral and monitor those matters.” Dialogues. link
Keep your eyes on Digital Ledger Technology. Once this is regulated, instant payments become possible. (T+0 instant settlements) This will effect prices on tokenized assets and stablecoins.
This year, the movement of money itself will create a higher demand in the faster payment sectors of our Market. These new demands create price pressures.
According to the report, Ripple is positioning global payments as a top priority, aiming to revolutionize the industry. The survey, conducted in partnership with the FPC, delves into current and future adoption trends of blockchain payment systems, shedding light on the present scenario and what lies ahead.
Ripple’s CEO, Brad Garlinghouse, emphasizes, “[Blockchain will drive] faster payments between businesses, reducing settlement windows, and ensuring close-to-real-time payments for all bookings.”
Quoting from the report, Ripple emphasizes the real value that blockchain in payments unlocks. An impressive 77% of respondents believe that using blockchain for payments is either “Very Beneficial” or “Somewhat Beneficial” for their organizations’ end customers. Additionally, over 60% share the same sentiment regarding customers using cryptocurrency for payments.
Iraq declares one day of public mourning for the death of the Iranian president and his companions
Today, Monday (May 20, 2024), the official government spokesman, Bassem Al-Awadi, announced a one-day public mourning for the passing of Iranian President Ebrahim Raisi and his companions.
Al-Awadi said in a statement received by “Baghdad Today” that “in standing with the Iranian people and their leadership, in these difficult times, and in solidarity with the feelings of sadness and pain, with the passing of the President of the Islamic Republic of Iran, Ebrahim Raisi, and the Minister of Foreign Affairs, Hossein Amir Abdollahian, and their companions, in the painful incident, the government announced Iraqiya: Public mourning throughout Iraq, for one day, tomorrow, Tuesday.
He added: "We ask God Almighty to inspire the families of the victims and the general Iranian people and their leadership with patience and solace."
On Monday morning, the government and Iranian media sources confirmed the death of Iranian President Ebrahim Raisi and his Foreign Minister Amir Abdullahian in a helicopter crash in the northeast of the country, yesterday evening, Sunday. link
Iraq 🇮🇶 is currently in the final phase (Phase-2 Implementation phase) of digitizing their banking system per the reforms set forth by the World Bank…”this began in 2009 per the attached pdf”
The U.S. banks has been digitizing , global banks have been digitizing. Now this shows Iraq is in the final phase (Implementation phase) of digitizing
This connects Iraq banks to other global banks 🏦
💥Modernization
💥The transfer of digital gold , silver etc
💥RIPPLE / XRP
💥Instant payment settlements / transactions
🟢This connects Iraqs banking system to the global banking system
The impact of the death of Iranian President Ebrahim Raisi on the Iranian currency
The Iranian currency witnessed a major collapse following the killing of Iranian President Ebrahim Raisi and Foreign Minister Hossein Amir Abdollahian. The currency fell by more than 8 percent as of last night, reflecting the profound impact of political events on the Iranian economy.
On Sunday, as news of the fate of Iranian President Ebrahim Raisi spread after his plane crashed in East Azerbaijan Province, the dollar exchange rate witnessed a noticeable increase against the Iranian riyal in the unofficial market. The price of the dollar rose from the level of 57 thousand riyals per dollar to more than 62 thousand riyals in Monday morning trading.
This increase came after the official death of President Ebrahim Raisi and the Minister of Foreign Affairs was officially confirmed on Monday morning, as their helicopter crashed in the East Azerbaijan region, northern Iran. As a result, the Iranian currency exchange rate reached 60.6 thousand tomans against the US dollar, knowing that the Iranian toman is equal to 10 riyals.
The Iranian rial had witnessed a slight recovery against the dollar after a period of increasing tensions with Israel, as the dollar exchange rate reached about 70 thousand riyals per dollar. With the decline in tensions, the dollar exchange rate began to gradually decline, reaching 57 thousand riyals in parallel market trading on Sunday morning.
It is worth noting that the Iranian government has set an official exchange rate for the dollar at 42,000 rials to one dollar since 2018. However, the rial is suffering from great pressure due to high inflation sparked by the ongoing US sanctions. These sanctions, imposed during the administration of former US President Donald Trump, reduced sales of some of Iran's main exports, especially oil and its products.
This incident comes at a time when the Iranian economy is suffering from major challenges, as political fluctuations make it more difficult to predict the future of the currency and stabilize the economy. This rapid decline in the value of the Iranian rial reflects the fragility of the economic situation and the great pressures that the country faces in light of the sanctions and political turmoil. link
Article: "Floating the Iraqi dinar. A solution to fill a 'gap' whose volatile price against the dollar"
If the Iraq dinar floats and for whatever reason a lot of people start investing into the currency and it drives the exchange rate up, if it gets anywhere near $0.25 and higher for me, I'm out of there! Seriously, I will sell my currency...
The cool thing about this is there's no talk about a redenomination. So are they actually going to float this currency with the zeros on there and take the risk that sucker is going to jump up really high in the exchange rate?
...Keep an eye on that sucker, watch the exchange rate, if it gets anywhere near where you want to sell it, then jump all over it. I wouldn't procrastinate or gamble with it.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Well another day!! Good morning everyone!!!
Member: Sure am tired of this “movie
Member: it's not a movie, at this point it's a sitcom
Member: Some have called for RV this week.
Member: What’s the good news today Mark?
Member: big things are expected on Memorial day weekend with 3 day banking holiday.
MZ: Many banking sources are expecting big things this week. Some expect things as early as today. .Many bankers are upbeat about today and this up coming Memorial day weekend. …. But, There is a lot of smoke out there.
MZ: “Zimbabwe receives invitation to China’s premier global gold showcase” They are one of the only 20 countries that were invited. This shows Zimbabwe’s rise to prominence in the BRICS world and commodities world. .
MZ: New Bank Story: “ From a small town outside a large one- A banker had been doing research for a customer after hearing about it. While doing research he found out about the validity of the currencies and determined his banks was involved in the RV”
Member: Im new- what does RV stand for?
MZ: Re-Valuation
Member: CMKX news?
MZ: No new CMKX news. They are ready and waiting.
Member: Bond news Mark? I’m hearing it’s good and moving forward fast..
Member: Mark, a bond guy said that they are anticipating all historic bonds to be paid out by end of May or first week of June
Member: How can Iraq pass their budget without a new rate?
MZ: Remember when they designed their budget –they added a clause in there for a value change…for the budget to adjust for a value change. We are hearing they passed a budget but we are waiting for a few details that are missing. Things that are not released yet. This may be an interesting day on that front.
Member: Was that Sudanis big announcement yesterday.
MZ: I believe that was Sudanis big announcement that they passed the budget. They have made a lot of agreements…a lot of movement toward Erbil and the HCL.
Member: MM put out and article this morning that the COM (Council of ministers) is sending the schedules to the HOR (House of Representatives) tomorrow
Member: Frank26 has a good overview of yesterday’s events. Go give him a listen.
Member: So is the death of Iraian president yet another excuse for delaying the RV? This rollercoaster is exhausting & disheartening
Member: Sure looks suspicious to me …reminds of of when Khadafi in Libya was killed.
MZ: It could just be an maintenance issue…..But you have to wonder when something like this happens to someone in a that position . Prayers for a smooth transition for the Iranian people. He was a very controversial figure.
Member: Think about this.... Sometimes people have to be moved out of the way for good things to happen. Iran?
Member: The 1st VP of Iran will be the New President of Iran!! He is a Conservative, so we could see a different Iran!!
Member: My friend in Iran said he did not think there was any foul play, but that he was not a good guy
Member: Maybe white hats are finally doing some clean up?
Member: There are rumors of the federal reserve going away.
MZ: “GOP Lawmaker introduces a bill to abolish the Federal Reserve” This is a oldie but a goldie. . Rep Thomas Massey a republican out of Kentucky intruded this. Many have jumped in to support the bill. This was first introduced in 1999 by Ron Paul . This to me is great news that it is gaining momentum .
Member: Saw this about an hour ago: Wyoming Strikes Gold: 2.34 Billion Tons Unearthed, Rattles China
Member: I went to a coin show Saturday and met a woman who wanted to buy silver but wasn't sure what to buy. My hubby and I helped her. Found out she knows about the RV, owns several currencies & agrachecks
Member: This roller coaster sucks
Member: Nothing, nothing, nothing, then suddenly something.
Member: Hearing energy has shifted ….this is huge get excited ....it's switched …3d reality will show face soon ….abundance on ur lives is imminent
GUYS! MARK'S BIRTHDAY PODCAST CELEBRATION COMING UP ON FRIDAY MAY 24TH! STAY TUNE!
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Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
MARK’S TELEGRAM ROOM FOR WORLD NEWS EVENTS & CHAT? LINK: https://t.me/TrollingNews_telegram
THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.