Sunday, June 30, 2024

"RV UPDATE" BY BUCKEYETREE, HOLLY & SUZIE, 1 JULY

 BuckeyeTree 

 We are at the end of June, and Sunday, June 30, is mid year, an opportune time. Almost daily there is a cascade of news in articles from Iraq...IMO, June may end with great news, and, if not with what we seek, but maybe news that brings us yet closer to what we seek...Now ATMs are out and official WTO full member status as of July 18.IMO, the window seems to be getting smaller and startup of those idle ATMs dispensing and working maybe closer!  IMO.

Holly 

  ...based on Iraq’s progress things are definitely on track to being done...I see a culmination of this sometime this summer and it could go now or it could be later, no one and I mean no one will know when...We are definitely in the end time of all of this.

Suzie 

 WTO Article:  "FORMAL WORKING PARTY MEETINGS 2024 18 July 2024 - THU 18 JUL  10:00 Working Party on the Accession of Iraq"   This is good news for Iraq on their accession to the WTO. Hopefully they will have or shown us by that time a new rate for the dinar.  While international trade and economics are the important criteria for membership, having an international tradable currency is not a "cast in stone" issue but I certainly would think Iraq WOULD want that for credibility purposes if nothing else...

New Timeline for RV or New Rate🚩Massive Celebration in Iraq Soon🤔Dinar R...

The Iraqi Parliament responds to the US Congress: Its project against Judge Zidane is a dangerous precedent, 1 JULY

The Iraqi Parliament responds to the US Congress: Its project against Judge Zidane is a dangerous precedent

Fourth – Baghdad

Today, Saturday, Deputy Speaker of Parliament Mohsen Al-Mandalawi considered the US Congress’ draft against the head of the judiciary, Judge Faiq Zaidan, a dangerous precedent and a violation of Iraq’s sovereignty.

Al-Mandalawi’s office stated in a statement received by Al-Rabaa, “The latter considered what was reported by American media regarding Republican Congressman (Mike Waltz) submitting a draft law amendment and including a clause affecting the head of the Supreme Judicial Council, Faiq Zaidan, as a dangerous precedent to be added to the record of actions of the Biden government, which supported In public, it is the most horrific mass massacre committed by Zionist gangs against the people of Gaza, and today they threaten to attack the sovereignty of states and their symbols without a legal justification that allows them to do so.”

According to the statement, Al-Mandalawi called on the Ministry of Foreign Affairs to “move through its diplomatic means and deliver a direct message that Iraq, with all its authorities, rejects such offensive interventions, which came from the American Congressman, describing them as tools of influence for other countries,” stressing that “Iraq is a sovereign country, and its relations with… “All countries are built on the foundation of mutual respect.”

He stressed that “the bill that is to be submitted to Congress by the Republican representative, if approved, will constitute a dangerous turning point that will affect, in one way or another, the nature of bilateral relations between the two countries.”

Al-Mandlawi stressed the full support of the House of Representatives for the “Chief of the Judicial Authority, and its absolute rejection of any abuse of his authority and that of all authorities,” noting “the keenness of the Presidency of the Council to follow up on these illegal actions and take all necessary measures to reject them.”

https://alrabiaa.tv/article/91151/91151-%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%B1%D8%AF-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%83%D9%88%D9%86%D8%BA%D8%B1%D8%B3-%D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A:-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D9%87-%D8%A8%D8%AD%D9%82-%D8%A7%D9%84%D9%82%D8%A7%D8%B6%D9%8A-%D8%B2%D9%8A%D8%AF%D8%A7%D9%86-%D8%B3%D8%A7%D8%A8%D9%82%D8%A9-%D8%AE%D8%B7%D9%8A%D8%B1%D8%A9–%D8%B9%D8%A7%D8%AC%D9%84


"RV UPDATE" BY SANDY INGRAM, 1 JULY

Sandy Ingram

  The four factors that have or can affect the Iraqi dinar currency...The first...is the '24 budget...presents a significant issue for Iraq.  The World Bank's assessment that Iraq needs an oil price of $90/barrel to meet budget requirements is a stark contrast to the current oil price of around $80...This ongoing issue boils down to how the World Bank reviews financial data and how Iraq view the same data.   The second factor...until 2014 Iraq almost always created jobs for college graduates...In the eyes of Iraq, a government career is part of the benefits of being an oil rich county...One reason the budget is so large is that Iraq is budgeting for over 700,000 new government jobs.

The third factor...there are two exchange rates in Iraq...The official rate is round 1310 to $1.00.  The market rate...fluctuates higher around, 1450 to $1.00 and cause issues, even protests.  The market rate is the rate at which people live day-to-day... Because Iran and Syria need and want US dollars the US Federal Reserve has encouraged Iraq to rely more on the Iraqi dinar than the US dollar.  This effort keeps Iraq out of trouble with the US Federal Reserve and the Department of Treasury...The issue of the two exchange rates is expected to be resolved over time.  As of January 1, 2024 all transactions are mandated to be conducted in Iraqi dinars and the gap between the official exchange rate and the market value is anticipated to decrease, offering a sense of stability

...This is the most concerning issue that is brewing.  All oil revenue paid to OPEC is in US dollars...Iraq's oil revenue is received by the US Federal Reserve first and then allocated to Iraq...The fact there are backroom talks over the position of OPEC going forward leaves [us] concerned for Iraq's Financial safety especially if the country wants to receive oil revenues in the dinar currency.  However this would be one of the best steps to strengthen Iraq's currency...OPECs power is being threatened from within and this could lead to an uncomfortable situation for Iraq. 

FRANK26…..6-30-24…….WHERE’s THE BUDGET

Customs completes the first phase of the automation project and reveals its revenues within 5 months, 1 JULY

Customs completes the first phase of the automation project and reveals its revenues within 5 months

Economy News – Baghdad

The General Authority of Customs announced, on Sunday, the completion of the first phase of the automation project in 8 centers, and while it was scheduled to complete it throughout its centers in Iraq, it revealed its revenues within 5 months.

The head of the authority, Hassan Al-Okaili, said, in a statement reported by the official news agency, and seen by “Economy News”, that “the authority has started implementing the Scuda system at some border ports since last October,” noting that “the first phase of automation has been completed in 8 customs centers out of a total of 25 centers.”

He added, “The importance of the outlets is measured through the most revenue ports through which many goods enter,” noting, “the second phase will see the automation of the rest of the centers in a time limit that extends for the first half of next year,” pointing out that “automation contributed to increasing revenues.”

He stated, “There are a number of measures carried out by the General Authority of Customs, including reform at the institutional level and at the level of procedures and capacity-building of cadres,” noting, “The Authority is witnessing today a real technological revolution by switching to electronic platforms and modern systems such as the Scuda system.”

He pointed out that “the Authority’s revenues in 2022 reached 800 billion dinars, and in 2023 we achieved one trillion and 33 billion dinars at an increase of 28 percent,” pointing out that “during the first five months of this year, we achieved revenues of 800 billion dinars.”

He expressed his hope that “the revenue rate will rise by the end of this year to 200 percent from what it was in 2022,” explaining that “the measures adopted – foremost of which is automation – reflected positively and clearly on the percentage of revenues and on the level of revenues that entered as revenues to the state treasury.”

Al-Okaili stressed that “every new system that is applied faces a set of challenges, perhaps the most prominent of which is the weakness of infrastructure with the application of modern technologies that have not been previously used,” pointing out that “the Prime Minister directed that the General Authority of Customs be provided with experts and specialists from the Ministry of Higher Education; to strengthen cadres and strengthen the work teams working in this field.”

On the establishment of staff courses to work on the ŠKODA system, Al-Okaili stressed that “a national team of employees of the General Authority of Customs and a team of employees working in this field was built, where they received high-level training by United Nations experts, a total of 48 employees,” pointing out that “the end users of the EsyCUDA system were about 3,300 people between government departments, clearance companies and traders, and work is still continuing on training.”

He stated, “The training is taking place in every border outlet within which the system is applied,” explaining that “during the last three months we have worked training in Baghdad for those who have headquarters in the capital and are difficult for them to travel to the city of Basra or Ramadi.”

He pointed out that “the Scuda system did not work today with all its functions, as one of the functions of the system is to balance between facilitating and facilitating trade and monitoring and protecting the country from products that are not suitable for consumption from smuggling operations,” explaining that “one of the features of the system is that it works with artificial intelligence, where the features of the system will be fully activated in the next stage, including the selective process of detecting goods and storing inspection images of goods so that the system can distinguish between one image and another based on artificial intelligence.”


87 views

Added 2024/06/30 – 5:21 PM


https://economy-news.net/content.php?id=44757




"RV UPDATE" BY WALKINGSTICK, 30 JUNE

  Walkingstick 

 The ATM machines, they're all poised like centurions that are standing there.  These ATMs are guarding the lower notes.  It's time for all of this to come out now.  It's just the budget we are waiting for.  We're not waiting for any laws, we're not waiting for any new procedures.

---

Walkingstick

  Question: "Why haven't we had a new exchange rate?" 

 It's always the same answer, it's the corruption from Iran that steals from the auctions from the CBI...government through the political people that they have.

You can stop asking question about the budget.  It's all there.  Concerning the tripartite budget, everything...all the projects...cities, new exchange rate, lower notes, ATM machines, contracts, everything, it is all there...It is a fact...The GOI has the budget and they have the new exchange rate from the CBI.

---

 The Iraqi citizens are being given their education, not our education.  They are telling the Iraqi citizens what they need to hear at this moment in the monetary reform process...

 $4.9 billion for a pipeline in the budget...Didn't you say it was 6.5 billion dinars

 'Yeah.'  And you're saying it equals $4.9 billion? 'Yeah.'...

They told the world...6.5 billion IQDs is equivalent to $4.9 billion...6.5 divided by 4.9 it comes out to 1.32 or $0.76...You don't have to think anymore after this...That's billions to billions not trillions to millions.  That's a rate change...You're telling the world this.

--

[Iraqi bank friend]

 Aki in Dearborn...he's got one [new ATM machine like the ones delivered in Iraq].

They put these ATM machines out in order to put out the lower notes...These ATM machines will teach the citizens about the lower denoms and it will teach the bank employees about this as well too...There's going to be a stampede of people that will be rushing into the Iraqi dinars...These ATM machines are now being impregnated...

When they load or if they have loaded them up [new ATMs], the note count has already been determined.  The note count for each individual machine has already been accounted for...

These machines will be the state of the art...State of the art has nothing to do with a program rate.  If it was they would have had the state-or-the-art with the program rate for the last 20 years...The CBI is desperately trying to put out the least amount of currency at the onset before they release the new exchange rate.  Because once they do this, if needed, they will be able to add to this note count as the value is needed.

These ATM machines have the capability to recognize the lower denoms that are soon to be passed out to the citizens in order to add value to their currency and to go hand in hand with a new exchange rate of the lower notes...These ATM machines have the software for the lower notes.  

But does it have the lower notes in these ATM machines

 It is unknown...Since April there have been thousands of these ATMs being put out...FOR READ MORE: https://dinarevaluation.blogspot.com/2024/06/rv-update-by-walkingstick-19-june.html

IRAQI DINAR🔥Sudani's Masterstroke: Iraqi Dinar Unstoppable Rise on the G...

Economist reveals the main factors that influenced the implementation of the Maronites, 30 June

 Economist reveals the main factors that influenced the implementation of the Maronites

 Former Director of the Financial Supervision Bureau, Salah Nouri, revealed today, Friday, the basic factors that influenced the implementation of the budget approval.

Nouri told Al Furat News Agency: “The main factors affecting the proper implementation of the Maronites are: 

_Approval of the budget early, at least in the third month of the fiscal year 

_Accuracy of financial allocations according to the priorities of the government program 

-The speed of cash financing for public spending units. This concerns the duties of the Ministries of Finance and Planning, the Council of Ministers, and the Representatives

As for the executive departments, Salah added, “Transparency, integrity and quality in the use and spending of funds according to the approved financial allocations.” 

He stated, “The efficiency of the executive human resources in the public spending units, based on the basics of implementing the aforementioned general budget, will greatly affect the achievement this year in terms of delays in approving the budget and delays in financing, in addition to the weakness of efficiency, transparency, integrity, and quality, especially in investment projects.”  link

" ABOUT ZIMBABWE'S NEW GOLD-BACKED CURRENCY" BY GOLDILOCKS, 30 JUNE

 GOLDILOCKS

The International Monetary Fund (IMF) announced that Zimbabwe's new gold-backed currency has stabilized the nation's economy. This currency, introduced in April, is supported by 2.5 tons of gold and $100 million in foreign currency reserves.


In a June 27 statement released following an Article IV consultation mission, the institution noted that the official exchange rate of the Zimbabwe Gold (ZiG) has remained stable, ending the economic instability seen in early 2024. During that period, the Zimbabwean dollar lost about 260% of its value against the US dollar.


https://www.ecofinagency.com/public-management/2806-45679-zimbabwes-gold-backed-currency-brings-stability-imf-says

CHELLA: Iraqi Dinar News Iraqi Gazette, Budget Laws, Fintech, Returning JULY 12th

Will the state adopt the provision of sovereign guarantees to finance private industrial projects?, 30 JUNE

  Will the state adopt the provision of sovereign guarantees to finance private industrial projects?

The financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, explained today, Friday, that the state has adopted a policy of providing sovereign guarantees for loans obtained by the private sector to finance an important package of private industrial projects.

Saleh told Al Furat News Agency: “There is a fundamental link in financing and implementation adopted by the government program and general policy in development, and its basics are summarized in the high implementation of the listed and ongoing government investment projects that faced procrastination and halting for many years.” 

He added, "The current investment program is based on completing the implementation of investment projects without interruption and in accordance with the financial resources allocated to them included in the Federal General Budget Law, while ensuring the sustainability of the funding sources necessary for the continuation of implementation, especially in the field of high-service infrastructure such as projects to develop electricity, drinking water, roads, sewers, etc., with priority that touches the lives of citizens."

 He pointed out: "Based on the above, the increase in revenues is one of the important financing levers in overcoming the problems that were facing government projects, which are called (slowed), and which have now entered into implementation and completion, in accordance with the approved policy (No more slowed projects)." 

 He expressed: "Therefore, there is a clear correlation between the capacity to implement urban projects in the country and the growth of public revenue sources (whether oil or non-oil) and harnessing their high financial flows to serve the requirements of economic development in our country in a way that maximizes the gross domestic product and provides high and sustainable employment sources at the same time.

The private sector assumes an important responsibility in implementation as it is the effective strategic partner in developing the Iraqi economy and advancing its infrastructure and various production activities."

 Saleh noted that "the state has adopted a policy of providing sovereign guarantees for loans obtained by the private sector to finance an important package of civil industrial projects, most notably projects to produce industrial and construction outputs related to the advancement of reconstruction, housing and infrastructure, with sovereign guarantees for the private sector amounting to 85% of the value of private activity, specifically industrial activity."    link


LATEST FROM MIKE BARA, 30 JUNE

 MIKE BARA

Once again, the "bondholder" has been told he will be paid this week. I was told what day, but cannot share it. I will keep you notified as rum-tel warrants.

--

MIKE BARA

The “Bondholder” still has not been paid. He is expecting a call today.


Other than the MarkZ report that an announcement about lower denominations has been made in Iraq, There is nothing else to put out right now.

---

MIKE BARA

The situation as I understand it: This should have gone in April. That was Plan A. The USA stopped it. The window for Plan B opens tomorrow at "Sundown" and is a week long. There is no Plan C.

---

Word from a source just received:


 He got a call from a high banking source at a major bank in the south. “You’ve been bugging me about this for ten years. Well, congratulations buddy. Your dream is about to come true.”


 SOURCE: “What do you mean?” 


BANKER: “We just got a letter from headquarters informing us to get ready because ‘The Iraqi Dinar is revaluing extremely soon.’”


---

The situation as I understand it: This should have gone in April. That was Plan A. The USA stopped it. The window for Plan B opens tomorrow at "Sundown" and is a week long. There is no Plan C.

--

The "Bondholder" is once again certain he gets paid out on Tuesday, but he is returning to his city of origin tomorrow. He HAS to be in this location to get his payout. This means the payout COULD come sooner than Tuesday. More as I get it...

---


💢Mike Bara: High WF banking sources are telling people who hold currency not to bother taking any contracts for work longer than a week or two — no matter how much money is involved.


We are almost there, folks…


💢 Gezelle, Liberty Lounger Extraordinaire, offers clarification for those who might be a little confused 

➡️ They are advising not to take any contracts for work (self-employed people) for more than max 2 weeks.

6.21.24

---

  💢 Update from Mike Bara 6.15.24  

💢Mike: OK, I hate to be the Bara of bad tidings, but I just got info from "The Bondholder" — who is not a bond holder but a bond broker waiting to be paid commissions by the US government for bringing in historic bonds — to the effect that he won't be paid until Tuesday. 


We were hoping he'd been paid already. This would clear the way for Tier 4B, us, to be paid out.


 We were all hoping and waiting for some announcement or notifications this weekend.


 That can still happen, but IMO we don't get paid until after guys like him get paid. So we wait... and hope.


https://dinarevaluation.blogspot.com/2024/06/rv-update-by-mike-bara-16-june.html


https://dinarevaluation.blogspot.com/2024/06/summary-of-rv-updates-by-mike-bara-30.html

Iraqi Dinar🎉 It's Your Time Iraqi Dinar RV Holders Get Ready Today 2024🔥...

DRAGON BOND: What it Means, How it Works, 30 JUNE

 DRAGON BOND: What it Means, How it Works


What Is a Dragon Bond?

A dragon bond is a long-term debt security issued by firms operating in Asian nations (excluding Japan), but denominated in foreign, stable currencies, such as the U.S. dollar (USD) or the Japanese yen (JPY).

Dragon bonds are Asian corporate bonds, ex-Japan, but denominated in a foreign currency.

Dragon bonds are denominated in currencies deemed to be more stable than the home currency to help mitigate the foreign exchange risk.

Dragon bonds, introduced by the Asian Development Bank (ADB) in 1991, are analogous to eurobonds issued by European corporations in foreign currencies.

Understanding Dragon Bonds

A dragon bond is a fixed-income security denominated in currencies deemed more stable than the home currency; it is seen as more attractive to foreign investors as a result. The rationale for structuring them to be as appealing as possible to investors outside of Asia is because they mitigate the foreign exchange risk that can impact returns as currency values fluctuate. Dragon bonds are similar to eurobonds in that they are denominated in foreign currencies that are liquid and stable, but in the Asian context instead of Europe.

Dragon bonds were first introduced in 1991 by the Asian Development Bank (ADB). Because of the foreign denomination, these can be more complex than other bonds because of international differences in taxation, regulatory compliance issues facing firms that issue them, plus limited liquidity in trading them in secondary markets.

Dragon Bonds and Currency Risk

Dragon bonds were created to broaden the market for fixed-income securities in Asia and develop more active Asian financial markets. Although Asian companies had issued bonds in local currencies, they appealed mostly to domestic investors limiting access to capital. Foreign investors were often reluctant to buy bonds dominated in currencies that could fluctuate rapidly. Currencies such as the U.S. dollar and Japanese yen were considered stable enough for accumulating assets.

For example, an Indonesian company might issue a 20-year bond denominated in Indonesian rupiah (IDR), with a coupon rate of 4-percent paid annually. If the U.S. dollar-Indonesian rupiah (USD/IDR) were 10,000 rupiahs per one U.S. dollar, then a 100-million rupiah bond would be the equivalent of $10,000. Each interest payment of 4 million rupiah would represent $400 at the time the bond is issued.

To an Indonesian investor, an investment of 100 million rupiah would pay 4 million rupiah per year with return of principal after 20 years. But for an investor buying such a bond with U.S. dollars, an unfavorable movement between the relative value of the two currencies could create extra risk.

If in the next year the exchange rate shifted from 10,000 IDR/1 USD to 11,000 IDR/1 USD, then the first coupon payment of 4 million rupiah would only be worth only about $364 instead of $400 as anticipated when the bond was first issued. The bond's 100-million rupiah face value would be worth about $9,091. And if the prevailing interest rate moves up, the value of the bond would be even lower.

However, a dragon bond denominated in USD, while still subject to interest rate risk, would not be subject to currency risk. The regional economy has changed significantly in the years since the introduction of dragon bonds in 1991, including the 1997 Asian financial crisis, and the growth of the Chinese economy. However, dragon bonds continue to help Asian markets attract more foreign investment.

© Newshounds News™

Read more:  Investopedia


The Dreamscape: The 5 Month Disclosure " BY ARIEL, 30 JUNE

 ARIEL

💢Ariel - on X 6.30.24 


The Dreamscape: The 5 Month Disclosure 


P. Diddy Name Drop Associates 


2020 Election Overturned 


Technology Disclosure Release 


John F. Kennedy Jr. Debut


Julian Assange Drop New Files


New Republic Announcement 


9/11 Disclosure 


Military Tribunals


Public Executions 


Med-Beds Released


Dead Stars Re Emerge


Hollywood on Trial


J. Epstein List Releases (In Full)


DUMBS Are Disclosed To Public 


Washington DC Underground Prison 


Antarctica Disclosure 


Agartha Disclosure 


Time Travel Disclosure 


The Space Program Disclosure 


Pole Shift Warning 


Star Gates


Official Cryptid Disclosure 


Etc.


These are my imaginative outlines of what I would want to see. But we know this is stretching it a but too far. But maybe over the course of a few years as this would be a lot to happen within five months.


Realistically the landscape for everything that involves the transition period is being laid out now. 


Currency Revaluation


The Chevron Doctrine 


The Gold Standard 


Jan-6th Committee 


These are things that are currently realigning the landscape to prepare for "The New Republic" that will not be run by a bureaucracy via the 3 letter agencies. Who for the most part have a lot to lose once D. Trump takes back power. 


They will try everything to avoid this. Potentially trying to sabotage the election in general. Because the only thing on the other side of it is Gitmo for them. Not to mention his sentence. 


I can only imagine how much panic will ensue once he officially shares who us VP pick is going to be. We probably already seen him and didn't even know it. So let's see what is in store over these next few months. Because it's going to be crazy.


https://x.com/prolotario1/status/1807430398655308177?s=46