[via Judy Byington] Like I was told, September is the golden month. …I’m absolutely excited...We were told that this has started...It is my opinion that notifications should be coming out today Sun. 15 Sept, or tomorrow Mon. 16 Sept. at the latest...Have a beautiful day.
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Sat. 14 Sept. 2024 Wolverine
“Guys, I’ve just been told that the RV has started as Iraq is officially live on the big screen. Bytomorrow Mon. 16 Sept.we should have Tiers starting to receive payment, which is liquid money. Waiting to hear more later on.
I’m very certain that notification should come
any day now. Like I was told, September is the golden month. …I’m absolutely excited. Some people have been waiting for this for thirty years.
We were told that this has started. It is liquid money. It is my opinion that notifications should be coming out todaySun. 15 Sept, or tomorrow Mon. 16 Sept.at the latest.
Take care. Have a beautiful day.” …Wolverine
Later Sat. 14 Sept. 2024 Wolverine
“All banks have paid the transactions released yesterday in their accounts. Now they just need to send the notifications to those involved.
Iraqi Prime Minister Mohamed Shia Sudani, since assuming office in October 2022, has embarked on a pivotal journey to reshape Iraq's political landscape and strengthen diplomatic ties. As of September 15, 2024, Iraq stands at a critical juncture, navigating complex domestic and international challenges while pursuing an ambitious agenda for economic and political reform.
Sudani's visit to the United States in April 2024 marked a significant milestone in Iraq's foreign policy, aimed at revitalizing and broadening the bilateral relationship beyond military cooperation. The Iraqi delegation, comprising key ministers and business leaders, engaged in discussions on trade, economics, energy, and culture, reflecting Baghdad's desire to foster a comprehensive partnership with Washington.
Security and Sanctions
The agenda for Sudani's visit prominently featured discussions on the U.S. military presence in Iraq and U.S. Treasury sanctions. These topics were of paramount concern to the Shia Coordination Framework, a coalition of Shia political and militia groups that has historically opposed U.S. interests in the region. The sanctions were imposed due to the misappropriation of U.S. dollars by Iraqi banks and individuals associated with the Coordination Framework, which had facilitated the circumvention of sanctions against Iran, Syria, and Russia.
Economic and Political Agenda
Sudani's administration has prioritized an agenda centered on economic development, investment, and governance reform. His visit to the U.S. was aimed at attracting American business interest and investment in Iraq's economy. Additionally, the Iraqi leader sought to engage with the Iraqi diaspora in the U.S., encouraging their participation in Iraq's growth and further strengthening the bilateral relationship.
Domestic Challenges and Achievements
Political Environment
Sudani has navigated the complex and often fractious Iraqi political landscape with a pragmatic approach, attempting to balance the demands of various factions while pursuing his policy agenda.
Despite the challenges, he has managed to maintain relative stability and support from key stakeholders.
Economic and Developmental Agenda
The prime minister's first year in office has seen mixed results in implementing economic reforms and developmental projects. While progress has been hindered by political and budgetary constraints, Sudani's government has made efforts to address corruption and promote transparency.
Visualizing Iraq's Economic Progress
To better understand the economic landscape under Sudani's leadership, let's examine a timeline of key economic reforms and developments.
Prime Minister Mohammed Shia Al-Sudani, during a dialogue seminar by the Anki Foundation for Studies and Research on the path to development, in the presence of Mr. Al-Hakim:
Iraq depends on oil as the only source to cover its expenses, which have begun to increase.
The development path needs more study and clarification.
We must think properly to activate sectors that support oil.
- There must be projects that suit Iraq to be a focus of development.
We have started establishing and implementing the development road project, which will transform Iraq into an open country.
We have unnatural materials that have not been exploited in industries and the strategic location of Iraq.
We are in the planning, design and other studies phase and we have approached the World Bank to begin implementing the development road from Basra to Mosul.
Capital finds opportunity in Iraq amid security and political stability
- Many capitals want to invest in Iraq
Iraq today is on the right track
Iraq is witnessing recovery and stability and everyone needs his return
Iraq will enter the gas market after investing in several fields
Iraq is the best corridor in the communications and optical cable file
Providing job opportunities is one of the reasons that prompted us to proceed with the development road project.
We concluded the Faw Investment Refinery contract and it was activated.
With these projects, we will recreate the experience of the sixties and seventies to work in the private sector to provide job opportunities.
- The railway designs for the development road project have been fully completed.
- The third meeting of the Ministerial Council on the development path will be held next November.
We have started preparing a study on forming a body to manage the development road project.
- We have made real reforms in the tax and banking system.
There is no spot on Iraqi territory outside the control of our security forces, and we have directed the preparation of a comprehensive plan to secure the path of development.
The development road project needs 5 years to be completed. link
US sanctions on 14 Iraqi banks reveal a financial plot involving Iran and the UAE, exploiting banking loopholes to fund terrorism.
Highlights
💰 US Treasury sanctioned 14 Iraqi banks in 2024.
🏦 Iraqi banking system, established post-2003 invasion, has flaws.
🇮🇷 Billions funneled to Iran despite international sanctions.
🕵️♂️ Investigations uncovered a $3.5 billion money trail.
🚨 Funds linked to Iran’s Islamic Revolutionary Guard Corps.
✋ US aims to disrupt financial flows supporting terrorism.
🔍 Enhanced scrutiny and cooperation necessary for enforcement.
Key Insights
🔗 Financial Loopholes: The Iraqi banking system, initially designed for stability, became a conduit for terror financing due to inadequate oversight. This highlights the need for stronger regulatory frameworks.
🌍 International Cooperation: The situation underscores the importance of global collaboration to address the complexities of financial systems that allow sanctions evasion.
💼 Shell Entities: The use of shell companies in the UAE demonstrates how easily illicit activities can be masked within legitimate frameworks, necessitating better monitoring practices.
🚫 Terror Financing: The connection between Iraqi banks and Iran’s IRGC shows the dire consequences of unregulated financial practices, directly impacting U.S. national security.
🔍 Increased Scrutiny: The U.S. Treasury’s measures signal a more aggressive approach to identifying and severing ties with banks involved in terrorist financing, setting a precedent for future actions.
📜 Press Release Strategy: The U.S. Treasury’s communication strategy emphasizes their commitment to protecting Iraq while addressing security threats, shaping public perception.
⚖️ Regulatory Measures: The proposed rules to sever banks from the U.S. financial system illustrate the ongoing battle against money laundering and the need for stringent compliance.
Shafaq News/ The executive director of the Iraqi Private Banks Association, Ali Tariq, revealed, on Sunday, that the volume of electronic transactions in Iraq during August exceeded two trillion Iraqi dinars (approximately $1.5 billion).
In a statement to Shafaq News Agency, Tariq said, “This amount was transferred and circulated using various electronic payment systems, including cards and other payment methods.”
He highlighted that “This figure is expected to double in the coming months.”
Tariq also noted that around 20 million electronic payment cards have been issued, covering approximately 50% of Iraq’s population, with some individuals owning two or three cards.
He concluded by mentioning that “the number of electronic payment devices has exceeded 30,000 in both the public and private sectors.”
In October 2023, the Iraqi Council of Ministers issued several executive measures regarding the electronic payment system and point of sale (POS) devices, aiming to enhance the use of electronic payments and facilitate financial and commercial transactions in Iraq.
Iraq’s economy heavily relies on oil prices, and a drop below $70 per barrel may lead to currency devaluation.
Highlights
💼 Iraq’s budget relies 89% on oil sales.
📉 Oil prices fluctuating around $71 may impact the economy.
⚖️ Risks of currency devaluation loom if oil prices drop significantly.
🔍 Speculation and manipulation affect the foreign exchange market.
🏦 Iraq continues to buy gold, indicating a shift in central bank strategies.
🔒 Employee salaries are secured despite economic challenges.
🚧 Infrastructure projects may slow due to reduced oil revenues.
Key Insights
📊 Dependence on Oil: Iraq’s economy is still too reliant on oil sales, making it vulnerable to price fluctuations, which can impact fiscal stability. This dependency could lead to severe economic consequences if oil prices continue to dip.
🔄 Currency Risks: Should oil prices fall below the budgeted $70 per barrel for an extended period, Iraq may have no choice but to devalue the Iraqi dinar to manage its financial obligations. This historical pattern raises concerns about future economic health.
📈 Gold Purchases: The ongoing acquisition of gold by Iraq suggests a strategic move by central banks to diversify assets and strengthen financial security amidst global economic uncertainties. This trend reflects a proactive approach to safeguarding against currency volatility.
🔍 Market Manipulation: The presence of market speculators and the disparity between official and parallel exchange rates highlight significant challenges in Iraq’s foreign exchange market, exacerbating economic instability and complicating currency valuation.
📉 Employee Salaries: Despite oil price concerns, Iraq has secured funds for employee salaries, indicating a short-term buffer against economic downturns. However, long-term sustainability remains a question as oil revenues are crucial.
⚠️ Project Delays: Infrastructure and development projects may experience delays due to reduced oil revenues, impacting economic growth and job creation in the long term. This slowdown could hinder Iraq’s recovery and development plans.
🌐 Global Economic Impact: Iraq’s economic stability is closely tied to global oil demand. Any downturn in the global economy, particularly from potential shutdowns, could severely impact Iraq’s oil revenues, highlighting the interconnected nature of today’s economies.
The economic expert, Abdul Rahman Al-Sheikhli, said that the development path will pass through 12 Iraqi governorates and will have great investment opportunities.
“The development road will move Iraq from the regional situation to the global situation in terms of trade, as it will pass through 12 Iraqi governorates and will have great investment opportunities,” Al-Sheikhli said. He added that “the development path project will provide Iraq with great immeral and international relations, and will attract the Iraqi workforce and optimism about it for good.” Al-Sheikhli continued, “the stability of the security situation reflects the extent of interest in the future and the increase in investment opportunities in the country,” pointing to “the change of the economic system in Iraq since 2005 to the market system, and on this basis, the system must turn from the renty economy to a product.”
Iraq is currently receiving applications from their banking system to transition into the new digital economy. Between 60 to 70 banks have sent in their application to transition into International electronic platforms. This pretty much covers all of their Banks except for a handful.
They're still telling us that this aspect of their banking reforms will take till the end of the year, but we are seeing progress and lots of confidence in their new electronic banking system.
This article goes on to tell us that they are in an accelerated stage and moving forward with intention and purpose.
The hydrocarbon sector in Iraq witnesses a significant milestone as the country finalizes the Hydrocarbon Law (HCL) in 2024, a move aiming to boost the oil and gas industry and attract international investments.
Enhancing Investment and Production
The updated HCL introduces a new framework allowing foreign companies to share in oil output when in partnership with the Iraqi government. This shift from the previous fee-per-barrel contracts to production-sharing agreements and service contracts is expected to create a more investor-friendly environment.
Legal Framework for Oil and Gas Contracts
Iraq also finalizes the fifth-plus and sixth rounds of oil and gas contracts, attracting over 20 companies from around the globe. These contracts yield over 30% profit for participating companies, with Chinese firms and a single Iraqi-Kurdish company securing the deals.
Impact on Kurdistan Region
The Kurdistan Region's oil sector, already impacted by the closure of its main pipeline to Turkey, faces further challenges. The new federal budget law calls for a quota of 400,000 barrels per day (b/d) to be handed over to the federal oil marketer SOMO in exchange for 12.6% of federal funding.
Political and Economic Ramifications
The new HCL and budget law have political and economic implications for Iraq's social and political stability. Successful implementation could help calm violence and reflect a spirit of compromise, while failure could have negative repercussions.
Enhanced Table: Key Provisions of the Hydrocarbon Law
Recent developments in Iraq suggest potential changes to the Iraqi Dinar exchange rate, with optimism for upcoming currency exchanges and finalized salary agreements.
Highlights
💼 Significant meeting between Mbal and Baghdad finalizes the HCL hydrocarbon law.
💰 Salaries across regions to be equal, expected payments on Sunday.
📈 Potential currency exchange appointments may begin after market closes Friday.
📊 Analysts debate realistic IQD valuation; even a shift to 10 cents per IQD would be positive.
🏦 Major cross transactions in Iraqi banking sector show active market engagement.
📅 Iraqi banks announce dividend distributions for fiscal year 2023.
🔝 High contract rate for Iraqi Dinar linked to oil prices, favorable for holders.
Key Insights
📜 The finalization of the HCL hydrocarbon law is a crucial step for Iraq’s economic stability, indicating progress in governance and resource management.
🎉 Equal salary distribution across regions could enhance social equity and boost consumer confidence, fostering economic growth.
🔄 Anticipated currency exchange appointments signify a shift towards a more active and potentially profitable exchange market for the Iraqi Dinar.
💵 While some analysts suggest a more conservative valuation, any increase in the Dinar’s worth could yield significant returns for investors.
🏦 The volume of cross transactions in the banking sector indicates a robust economic activity, reflecting investor confidence and market liquidity.
📈 Dividend distributions from banks illustrate a positive financial outlook and provide incentives for local and foreign investments in the Iraqi economy.
📊 The connection between the contract rate and oil prices suggests that fluctuations in global oil markets will directly impact the value of the Iraqi Dinar, benefiting currency holders.
Iraqi Central Bank's Strategic Shift: Direct Relations with Correspondent Banks
In a pivotal move, the Central Bank of Iraq (CBI) has embarked on a transformative phase, transitioning from its current electronic platform for foreign transfers to direct banking relationships with international correspondent banks. This strategic shift, set to be implemented by the end of 2024, aims to enhance the stability, transparency, and efficiency of Iraq's foreign trade financing.
Strengthening Financial Reforms
The CBI's high-level delegation visit to the United States, from August 26 to 29, 2024, played a crucial role in this development. The delegation, led by Governor Ali Mohsen Al-Alaq, held extensive meetings in New York with key financial institutions. These included discussions with the U.S. Treasury, the Federal Reserve, Visa, Mastercard, MoneyGram, Citi Bank, JP Morgan, and major auditing firms such as KPMG, Ernst & Young, K2i, and Oliver Wyman.
Enhancing Transparency and Compliance
The meetings highlighted the CBI's advancements in monitoring foreign transfers and cash sales of U.S. dollars, aligning with international standards. These efforts have significantly improved transparency in foreign trade financing and fortified defenses against money laundering, terrorism financing, and other financial crimes.
Transition to Direct Relations
The transition to direct banking relationships is a crucial step towards centralizing oversight and regulation, aligning Iraq with global banking standards. Governor Al-Alaq confirmed that transfers through correspondent banks already accounted for 60% of the total (outside the CBI's electronic platform) with a realization rate surpassing 95%.
Phased Approach and Currency Diversification
This initiative is part of a phased effort to open direct communication channels for Iraqi banks with their foreign counterparts in correspondence and trade exchanges. The ongoing process will facilitate transfer channels in various currencies, including the Emirati Dirham, Turkish Lira, Indian Rupee, and Euro.
Impact on Exchange Rates and Financial System
The new system is expected to contribute to a more stable exchange rate and a more robust financial system. It offers comprehensive risk protection for all transaction parties and aligns with anti-money laundering and counter-terrorist financing laws.
Compliance Rules and Financial Reputation
The Iraqi banking sector's commitment to international compliance rules further enhances Iraq's financial position globally. The measures implemented by the CBI have received international praise from entities such as the US State Department and the International Monetary Fund.
Dynamic Financial Landscape
The CBI's Governor acknowledges the ongoing challenges but emphasizes that the financial situation in Iraq is progressing as planned. High coordination between the CBI, the Prime Minister, and the Ministry of Finance ensures financial stability and sustainability.
Reorganization of External Transfers
A major transformation is underway in reorganizing foreign trade management to achieve transparency and multiple goals simultaneously. This includes ensuring the accuracy of external transfer operations and verifying the source and final recipient.
Visualizing the Transition
To illustrate the significant shift in Iraq's financial operations and the reorganization of external transfers, a flowchart can be used to depict the flow of transactions from the current system to the direct banking relationship model.
Economic expert Abdul Karim Al-Issawi said: “Today, in fact, the Central Bank of Iraq has already moved to the stage of direct relations with correspondent banks, and it is in the experiment stage while monitoring the changes that occur in all the process for the purpose of fortifying the transformation.
Al-Issawi told Mawazen News: The platform was aimed at enhancing transparency and ensuring compliance with international laws, especially with regard to combating money laundering and terrorist financing.
He pointed out that:
**Potential benefits: 1. *Facilitating transfers*: Direct relationships may make transfers faster and more flexible. 2. *Reduce remittance costs*: Relying on a platform may require additional costs that may be retreated with the new system. 3. *Enhancing international confidence*: If these relations are well managed, it may help boost the confidence of the international community in the Iraqi banking system.
As for the potential challenges: “ 1. Compliance risks: Easing controls can increase the risk of money laundering and terrorist financing, which could damage Iraq’s reputation internationally. 2. Complexity of banking operations: Some banks may face difficulties in managing complex international relations directly without mediation from the central bank. 3. Impact on monetary policy: The central bank may lose some control over external money flows, which may affect monetary policy.
It is important that this transition (if it takes place) takes place gradually and deliberately, while ensuring that strong control mechanisms are in place to ensure that the Iraqi banking system is not exploited for illicit purposes. The final decision will require a balance of benefits and risks, and will certainly have a significant impact on the Iraqi economy and international relations.
The economist stated that the Central Bank of Iraq is negotiating with the US Federal Reserve regarding the termination of the electronic platform for foreign transfers and replacing it with direct banking relations between Iraqi banks.
Sat. 14 Sept. 2024: JPMorgan Chief Jamie Dimon has warned US economy faces an outcome worse than a recession.
Many years ago a politician exposed the Central Bank Scam to Congress: “All banks across the Globe are presently broke because of their practice of Fractional Banking where they have lent money that they don’t have. They print and use money that has no backing. If any of us did that we would go to prison.”
Sat. 14 Sept. 2024 Canada: Hey folks. Your neighbor here, figured I’d share some info with you. I’m Canadian. Walmart here will stop accepting USD on September 23rd. I’ve been digging trying to find out why. No one seems to know, I’ve had people dance around the question. If been left on hold for more than 20 mins until I’ve had to hang up. The closest thing I got to an answer was from a manager that said “It has something to do with new security features on the bills, and our machines can’t recognize it or accept it.” Anyone have any idea what’s going on? …Jay Rider on Telegram
Sat 14 Sept. 2024 Dollar Collapse Imminent! How GESARA and NESARA Will Trigger the Largest Wealth Redistribution in History! …NESAR/GESARA on Telegram
The current financial system, a puppet show controlled by elites, is collapsing under its own c********n. We are not just facing an economic downturn but a global upheaval poised to dismantle the status quo.
The collapse of the U.S. dollar signals the end of an era and ushers in the transformative promise of GESARA and NESARA—legislation that heralds the greatest wealth transfer in history, ensuring prosperity and financial freedom for all.
This collapse has been engineered by financial elites, using the dollar as their tool to amass wealth while the masses suffer. As their system crumbles, GESARA and NESARA will reset the financial landscape, replacing c********n with equity and transparency, igniting the largest wealth redistribution the world has ever seen.
The 2008 Crisis Was Just a Warning: Looking back at the 2008 crisis, it’s clear the so-called recovery was a lie. The elites used the crisis to pilfer wealth under the disguise of economic recovery, with the Federal Reserve protecting their every move. But today’s impending collapse is far worse. The reckless monetary manipulations have led us here, with global debt levels exploding. What we are facing isn’t just economic mismanagement—it’s sabotage.
The Financial Apocalypse Is Here: The catastrophic policies of excessive liquidity and artificially low interest rates have destroyed the system from within. The dollar is dying, and as faith evaporates, a new gold-backed currency could rise, following the principles of GESARA and NESARA. This isn’t just about economics—it’s about the end of financial tyranny. We’re entering an era where power returns to the people and economic justice prevails.
Preparing for the Inevitable: As the old system implodes, the principles of GESARA and NESARA offer a path forward. It’s time to secure tangible assets and support the systemic changes that will restore dignity to the financial world. This is about more than survival—it’s about rebuilding an economy that works for everyone.
A Call to Arms: This isn’t just a collapse—it’s a controlled demolition. The elites have played their final hand, and now it’s our turn. The collapse of the dollar is inevitable, and GESARA’s promise is the only solution. The time for passivity is over. We must rally behind these reforms, tear down the old system, and usher in a new age of economic fairness.
This is our moment. The financial apocalypse is upon us, but so is the opportunity to create a new legacy. Will you stand by, or will you fight for the future GESARA and NESARA promise? The time to act is now.