Sunday, June 9, 2024
Tomorrow.. Tripartite meeting between the Ministries of Federal Oil and Natural Resources in the Region and oil companies, 9 JUNE
Tomorrow.. Tripartite meeting between the Ministries of Federal Oil and Natural Resources in the Region and oil companies
Baghdad / Nina / Sources in the oil companies operating in the Kurdistan region revealed that a tripartite meeting will be held tomorrow, Sunday, between the ministries of federal oil and natural resources in the region, and oil companies, to discuss the resumption of the export of oil in the Kurdistan region via the pipeline to Turkey.
A senior official in one of the oil companies operating in the Kurdistan Region told the Kurdish Rudaw Media Network on Saturday: "The oil companies have comments on the conditions of the Iraqi government to resume exports."
"RV UPDATE" BY FRANK26, 9 JUNE
Frank26
The third phase of the monetary reform is being introduced...There are 7 parts to Phase 3... Article: "They published the text of the third strategic plan of the Central Bank of Iraq on their financial reform" Quote: "...include the ability to issue medium and long-term securities... increase gold reserves and offer new issuance of high quality currency." It doesn't get any better than that...
---
Question: "Should we watch Forex or the CBI?" CBI. Forex is waiting for the CBI.
----
Saturday, June 8, 2024
The Office of the Supreme Reference determines the first day of Dhu al-Hijjah and the first day of Eid al-Adha, 9 JUNE
The Office of the Supreme Reference determines the first day of Dhu al-Hijjah and the first day of Eid al-Adha
Information / Baghdad
The office of the Supreme Reference, Mr. Ali al-Sistani, announced today, Friday, that tomorrow, Saturday, is the first day of the month of Dhu al-Hijjah.
The office set Monday 17/6, the first day of Eid al-Adha
Spec1:
Dhu al-Hijjah is the twelfth and final month in the Islamic calendar. It holds special significance for Muslims worldwide:
Hajj: During this month, Muslim pilgrims from around the world gather in Mecca to perform the Hajj (Pilgrimage). The Hajj rites begin on the eighth day and continue for four or five days.
Eid al-Adha: Also known as the “Festival of the Sacrifice,” Eid al-Adha begins on the tenth day of Dhu al-Hijjah and ends on the thirteenth day. It commemorates the willingness of Ibrahim (Abraham) to sacrifice his son Isma’il (Ishmael) for Allah.
Sacred Days: The first nine days of Dhu al-Hijjah are considered sacred. Muslims engage in acts of worship, including extra charity (Sadaqah), better prayers (Salaah), and recitation of the Qur’an.
Remember that Dhu al-Hijjah migrates throughout the seasons due to the lunar calendar. Its significance lies in the Hajj and the observance of Eid al-Adha
------------------
During Dhu al-Hijjah, countries do not typically close down entirely. However, there are specific events and observances associated with this month:
Hajj Pilgrimage: Dhu al-Hijjah is the month when the Hajj pilgrimage takes place in Mecca, Saudi Arabia. Millions of Muslims from around the world participate in this annual pilgrimage.
Eid al-Adha: On the 10th day of Dhu al-Hijjah, Muslims celebrate Eid al-Adha (the Festival of Sacrifice).
It’s a significant holiday marked by communal prayers, feasting, and acts of charity.
Arafat Day: The ninth day of Dhu al-Hijjah, known as Arafat Day, is a key part of Hajj. Pilgrims gather at Mount Arafat for prayers and reflection.
While there are no widespread closures during the entire month, specific religious and cultural activities occur.
"RV UPDATE" BY MILITIAMAN, 9 JUNE
Militia Man
Article: "News publishes the text of the third strategic plan of the Central Bank of Iraq" Here's the powerful stuff. Quote: "...ability to issue medium or long-term securities, the transition from the platform to the banks...the increase of gold reserves, the introduction of new issuance of the high quality currency, the automation of monetary process..." This speech that Alaq has done will be one to remember...
He will be likely showing us something very soon...For Allaq to be talking about the issuance of a new high quality currency is awesome! It's huge. Especially when he uses the word 'issuance'. It means it's coming or it's about to be released...It's phenomenal. It's looking very good. It sounds like they're about to issue new money.
Article: "It confirmed its commitment to money laundering standards.. The Iraqi National Bank: We do not deal with companies suspended by the Central Bank" Does this article give anyone the impression that the CBI or the Government would have allowed for over half of the countries money supply to be stolen and or disappear? Think about the insanity that would be at this stage and level of banking the CBI is at today. With having the line up of the most professional Auditors in the world in Iraq's books, let alone the UST, US FED, IMF, WB, UN, etc.. It wouldn't happen.
If all you [Iraqi citizen] own is dollars and they change the value to a real effective exchange rate, back to where it was in the previous era, they say back to 1980...Sudani said the dollar is going to be weaker or he said it in a way that the dinar is going to be stronger than the dollar. ..That's the whole goal. You drop the three zeros from the currency, you're going to add value. That's all there is to it. That's how it works. That's just not my opinion as far as I'm concerned.
--
Article: "The delete the Iraqi dinar zeros reoccurring invitation and existing challenges"
That was February 25, 2024. It's sill in the the news this year. July 26, 2023 Al-Alaq said the project still existed... Quote: "When this is done correctly we can expect Iraq to become a strong dinar that is considered a store of value and perhaps even stronger than the dinar that was before 1980." That's a pretty big deal...
Article: "Parliamentary Finance resumes its meetings regarding the budget in preparation for voting on the schedules" Quote: "Parliament decided, according to the agenda, to hold its twenty-seventh regular session next Monday..." I am not sure how long voting will take on the paragraph. But, if they are going to vote to do a budget at 1310 that would have a deficit of 64 trillion that would not be good for the people and they want to see another term in office they'll need the 3 zeros to be removed from the exchange rate. If there isn't a removal by Al-alaq they'll be in a pickle be sure.
That vote [scheduled Monday 3:00pm Baghdad time vote on the 2024 budget tables] is prior to markets opening in the United States in New York. Will they vote? Will they do it? We're going to find out.
The House of Representatives will vote next Monday on the budge schedules...We've been waiting for it... Is it important? Is it not important?----
Obviously it's a focus. Article Quote: "Mustafa ... announced the House of Representatives intends to vote on the financial budget tables for the year of 2024...It will be held at 3:00 in the afternoon on Monday."
I don't think anybody's going to be able to prove me wrong, you drop the three zeros, the exchange rate changes from 1 USD to 1.32 just like al-Sudani says. Do the math it comes out to .76, apply the real effective exchange rate and that's where the show starts big time... .76 is $0.76 - it's slightly less than the dollar.
That's value. It's not .0007 something. It's value. That's what they're talking about - Bringing value to the currency. That's what Al-Alaq is there for.
Article quote: "If we assume the Central Bank issues a new currency this will not affect the exchange rate of the Iraqi dinar."
This guy is not wrong...It won't in my view. The exchange rate will affect the new small denominations though...If they change the value of the exchange rate by dropping the three zeros, therefor the new denominations will be affected by it, which will be value. It's pretty simple.
If you raise the value of the currency it's going to have a ripple effect...Instead of being a pebble...or a brick in the pond this might be a boulder. There's going to be some waves. The World Bank, IMF, US Fed, US Treasury...Bank of International Settlements, everybody's going to need to know what you're going to do and when you're going to do it and pretty close.
They're not going to be broadcasting it like everybody thinks, 'What's the date and what's the rate?' That's not how it works. But we study it close enough to where...we can see it can't be far off...
If they're going to have liquidity and they don't have it now it's going to require new small category denominations to be in circulation. Just as al-Alaq's project to delete the zeros would require new denominations. Did they do that in 2018 and have them in storage? I believe they did...
They increased that gold supply by about 40 tons...Their currency reserves are around $110 billion. They have a massive amount of wealth. They have the ability to support their imports for about 16 months they say, which is about 5x what they need. That's important. They don't want to reduce those. They'd like to keep them on hand...Iraq has a good foundation for Alaq to do what he's supposed to do and it'll only get better if he does.
If they change the value of their currency they're going to have more surpluses...The oil price is about $70 in the 2023 budget. That hasn't changed for '24 or '25 because that's a tripartite budget. They got a surplus. Oil is somewhere around $80. It's been as high as $91ish. The expectations of oil is to be somewhere in the neighborhood of $80/$90 and they even talk about $100/barrel...Iraq is going to be sitting pretty good...They have phosphates...sulfur...natural gas...Those non-oil revenue streams...taxes and tariffs are going to come online...Iraq has a good foundation for Alaq to do what he's supposed to do.
Iraq is moving forward. They've got huge reserves...increased their gold, they're going to have the private sector, their stock exchange is going to be one to reckon with. It's an emerging market and a lot of money is going to be start flowing...
If they go on the Forex system it's going to be international. It's going to be fast and furious.
Could they do something within the county prior to that?
Sure, why not, educate the citizens, do what they got to do...
Vietnam's Digital Payments Landscape: A Look at the Emerging Trends FROM SEEDS OF WISDOM TELEGRAM ROOM, 5 JULY
Vietnam's Digital Payments Landscape: A Look at the Emerging Trends Vietnam's digital payment ecosystem is undergoing a remarka...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...