BREVES BIG CALL NOTES PARA EL MARTES 11 DE JULIO DE 2023
SOLO INTELIGENCIA
¿¿¿DÓNDE ESTAMOS AHORA???
Lo que el personal de RC estaba haciendo el sábado a las 9 a. Wells Fargo y Chase junto con Rafidian Bank hay una alianza con Irak: día completo y domingo día completo y ayer y hecho el lunes por la noche. Si eso hubiera sucedido, deberíamos haber sido notificados hoy, pero hubo un problema con el Rafidian en Irak. la información que se envió y con los banqueros en sus centros de depósito que todavía estaban intercambiando con nuestra moneda Fiat el USD y que no deberían haber estado haciendo y 830 de ellos fueron arrestados, por lo que tuvieron que rehacer todo eso a partir de esta mañana y nuestro Entiendo que lo terminaron tarde en este arvo, por lo que es una noticia vieja y está manejada.
Hacemos la transición a Irak y de qué debemos ser conscientes - Bruce dijo que hace 15 años estábamos hablando de la HCL - y el reparto de ingresos - algunos a Kurdistán, etc., una reunión ayer por la mañana en Irak que continúa hoy y mañana hasta mediodía, donde todas estas decisiones finales están llegando a su fin, la HCL finalmente se hizo y anunció mañana y en la Gaceta y se supone que saldrá con la nueva tasa en el país y tendrá implicaciones internacionales también y un visto bueno en la HCL y la miembros de la OMC, solo están esperando que se publique la tasa oficial, que sellaría esa membresía.
Y deberíamos tener eso en la pantalla de nuestro banco mañana a las 11 am EST: esta será nuestra tasa un poco más alta. Muy alto y favorable. Para nosotros en los EE. Eso debe suceder antes de nuestras notificaciones, pero nuestras notificaciones deberían salir mañana por la tarde/noche o el jueves por la mañana y luego estableceríamos nuestras citas y comenzaríamos el jueves por la tarde y estamos escuchando esto de múltiples fuentes, también algunos cambios políticos que deberían tener lugar. mañana o el jueves y ese anuncio debe reflejar el lanzamiento de los correos electrónicos y, de ser así, nuestros comunicados saldrán mañana o el jueves, pero aún así comenzarán nuestros cambios el jueves en la primera cita 3 horas después de que se nos notifique.
Si eso es mañana, probablemente no iremos hasta el jueves, viernes o sábado en adelante y seguiremos adelante, en cuanto a la sincronización, esto se ve bien de muchas fuentes diferentes y no tengo nada más allá del jueves y esto cambia, fue el problema de Rafidian que no sucedió Entonces se abalanzaron e hicieron esos arrestos, así que solo sepa que esto es exacto justo antes de la Gran Llamada de esta noche y rezamos para que ahora comience esta fiesta.
Recuerde que obtendrá la tarjeta Q y todo el dinero se depositará en ella y luego podrá mover hasta el 1% del total de la cuenta el primer día y tendrá acceso a ella y eso tiene que durar 60 días y luego tiene acceso a todos sus fondos, incluso el 1% es mucho dinero. Más allá de eso, hay una cierta persona que sabe que hay una persona que no cree en los números 800, pero sabemos que los están enviando y nosotros en la Gran Llamada se los comunicaremos a todos ustedes y también en el sitio web. - así que asegúrese de registrarse. Y nos pondremos en contacto después con los detalles de nuestro proyecto después de RV.
Estoy seguro de que esa es la información que Bruce tiene para nosotros esta noche, así que ahora hablará sobre Sue y su (s) programa (s) y también agradecerá a todo su equipo: Sue y Bob, GCK, Pastor Scott, Jeannie y Larry. y todos esos fieles oyentes de todo el mundo. Y, por supuesto, orando por la llamada: Bruce nuevamente dice que está muy emocionado ahora de que esto termine, al igual que TODOS. Entonces, de nuevo, está rezando para que esta sea realmente la última llamada regular, y todas las llamadas futuras serán solo podcasts con un enlace de audio.
Por favor, todos ustedes en todo el mundo: oren junto con Bruce rezando el llamado. Esto es tan importante como siempre que sigamos orando con sincera intención hasta que finalmente se reciba esta Bendición Celestial. Los amo a TODOS – Gema.
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TRANSLATE IN ENGLISH:
BRIEF BIG CALL NOTES FOR TUESDAY, JULY 11, 2023
ONLY INTELLIGENCE
WHERE ARE WE NOW???'
What the RC staff was doing on Saturday at 9 am. Wells Fargo and Chase along with Rafidian Bank there is an alliance with Iraq: full day and Sunday full day and yesterday and done Monday night. If that had happened, we should have been notified today, but there was a problem with the Rafidian in Iraq. the information that was sent and with the bankers in their deposit centers that were still exchanging with our Fiat currency the USD and that they should not have been doing and 830 of them were arrested so they had to redo all of that from this tomorrow and our I understand they finished it late this arvo, so it's old news and it's handled.
We transition to Iraq and what we need to be aware of - Bruce said 15 years ago we were talking about HCL - and revenue sharing - some to Kurdistan etc, a meeting yesterday morning in Iraq that continues today and tomorrow until noon where all these final decisions are coming to an end the HCL is finally done and announced tomorrow and in the Gazette and it's supposed to come out with the new rate in the country and have international implications as well and a nod in the HCL and the members of the WTO, are only waiting for the official rate to be published, which would seal that membership.
And we should have that on our bank screen tomorrow at 11 am EST -- this will be our slightly higher rate. Very high and favorable. For us in the US that needs to happen before our notifications but our notifications should go out tomorrow afternoon/evening or Thursday morning and then we would set our appointments and start Thursday afternoon and we are hearing this from multiple sources , also some political changes that should take place. tomorrow or Thursday and that announcement should reflect the release of the emails and if so our releases will go out tomorrow or Thursday, but will still start our changes on Thursday at the first appointment 3 hours after we are notified.
If that's tomorrow we probably won't go until Thursday or Friday or Saturday onwards and move on, timing wise this looks good from a lot of different sources and I don't have anything past Thursday and this changes was the problem of Rafidian that didn't happen So they swooped in and made those arrests so just know this is accurate right before the Big Call tonight and we pray now this party starts.
Remember you will get the Q card and all the money will be put on it and then you can move up to 1% of the total in the account on the first day and you will have access to it and that has to last for 60 days and then you have access to all your funds , even 1% is a lot of money. Beyond that, there is a certain person who knows that there is a person who does not believe in 800 numbers, but we know that they are being sent and we at the Big Call will communicate it to all of you and also on the website. - so be sure to sign up. And we'll get back to you later with the details of our project after RV.
I'm sure that's the information Bruce has for us tonight, so now he's going to talk about Sue and her show(s) and also thank his entire team: Sue and Bob, GCK, Pastor Scott, Jeannie and Larry. and all those faithful listeners from all over the world. And of course praying for the call: Bruce again says he's so excited now that this is over, as is EVERYONE. So again, you're praying that this really is the last regular call, and all future calls will just be podcasts with an audio link.
Please, all of you around the world: pray together with Bruce in praying the call. This is as important as ever that we keep praying with sincere intention until this Heavenly Blessing is finally received. I love you ALL – Gemma.
Let us take a step back today and look more seriously at the situation in Iraq.
I quote from one of today’s article:
“is there any sane person who believes that an institution of the size and capabilities of the Iraqi Central Bank goes to patchwork solutions and is not studied within the framework of miserable attempts to raise the value of the Iraqi dinar, and it knows full well, that the fault is not in what is offered from the dollar, but the question: Where does it go and how? That’s the issue!.”
In October 2020, Iraq’s cabinet approved an economic reform agenda known as the “white paper,” which identified over 200 reforms, legislative amendments, subsidy cuts, and e-government measures that are broadly in line with previous World Bank and IMF reform recommendations.
The new prime minister Al-Sudani is following this reform agenda, however for political purposes they do not refer much to the White Paper anymore.
Are they then waiting to complete the White Paper reforms which, if we read the White Paper, we can clearly see these reforms culminate in the currency exchange market (FOREX).
Why pay attention to only this section on page 50?
I know this is a large document with lots to do for Iraq but as I said before Iraq already has the value it needs in its currency.
It is just that the “program rate” now does not reflect a true value.
I know that in 2003 the Iraqi dinar was on the verge of collapse but we are no longer in 2003 and 20 years later much progress in all directions has been made.
So why not pay particular attention to this section and see if any progress has been made in this area.
If you look at items in this section of the White Paper it appears that items 1-5 culminate (happy ending) with item 6 which is opening up the dinar under the umbrella of the securities and exchange commission once again i.e. FOREX.
They get there by working through items 1-5.
So Iraq has achieved various progress in these pieces of items 1-5.
I only hope you can absorb this information today and know that with much confidence the Reinstatement is just around the corner.
We only need to focus on the FACTS and this will give us assurance that the RV and Reinstatement are coming soon but not yet.
I also feel that Iraq may also want to address these 6 items too:
1. PASSING THE CONSTITUTIONAL REQUIREMENT FOR THE OIL AND GAS LAW (referendum)
The first part we already talked about in that the Oil and Gas law and how this is a constitutional requirement.
The political analyst Sabah Al-Ugaili considered, on Sunday, that:
1. Approving the oil and gas law will be Iraq’s safety valve in the next stage, while stressing that
2. Passing the law will work to end all crises that occur regarding the export of Kurdistan’s oil.
Al-Aqili said in an interview with the information agency:
3.”The approval of the law will redraw the road map for the distribution of wealth among all components.
What Iraq needs is overall STABILITY and SECURITY.
So as far as the Oil and Gas law, the Presidency of the House of Representatives announced the start of the second legislative term of the parliament, with the first session to be held next Saturday.
This chapter is expected to settle the situation on the controversial issue related to the governorates’ shares of oil revenues the Oil and Gas law/Hydrogen Carbon Law/Energy Law once and for all.
Let’s just buckle down, relax and pray that Iraq can work it out and pass this damn much needed referendum.
2. IRAQ IN USING ITS OFFICIAL CURRENCY, THE DINAR, TO TRANSFER MONEY TO IRAN AND OTHER COUNTRIES, AS A FREE MARKET CURRENCY
The second issue we also already talked about is how Iraq and Iran want to use the Iraqi dinar for trade between their countries.
Iraq also wants to use the dinar in trade with other middle eastern countries.
This is not just a pipe dream as Iraq is coordinating these agreements as I write this newsletter.
But what will be the response from the US government?
The commercial adviser to the Iranian embassy in Iraq, Abd al-Amir Rabihawi, said that pressure from the US treasury prevents the Iraqi side from using its official currency to transfer money to Iran, forcing it to use the free market currency, which differs by 10% from the official currency and harms Iranian merchants.
How can Iraq possibly RV and Reinstate the dinar if the US does not even support its use in foreign trade with other middle eastern countries never mind the rest of the world.
Yes, the US seems to me to be an obstacle to the RV.
3. DELAY IN OPENING THE BUDGET
The third part to this mystery lies in the budget.
I believe this issue may be the underlying casualty of all these events.
The GOI is being very cautious in opening the budget knowing they cannot yet fully control all the funds.
Why the hurry to get it passed then and then signed into law by the president if you are not going to quickly implement it?
The prime minister himself has told us he is waiting to open the budget.
Then Advisor to the Prime Minister Hisham Al-Rikabi affirmed today, Wednesday, the government’s insistence on carrying out more reforms.
This means he is waiting for some other events to occur.
4. DISMISSAL OF PUBLIC OFFICIALS WHO MANIPULATED PUBLIC MONEY AND THIS IS A CRIME
Could we chalk up yet a fourth event to the reorganizing of his cabinet?
If you read the articles on this topic, you can see that a month ago he claimed he was going to clean out his cabinet from the corrupt.
He was going to wait until the budget situation was resolved.
Now that the budget is law he is moving ahead with this action.
Today I present an article that helps us see more clearly the importance of this move in creating yet more transparency on where and how this budget money is going to be spent.
Now imagine however, if the rate did change and the impact on the budget it would have.
There would be enormous amounts of money to deal with the opportunity for corruption would be rampant.
5. STABILIZE THE DINAR TO THE CBI “OFFICIAL” RATE
There is still yet another issue that is not yet resolved fully and that is the parallel market (black market) for the dinar and the inability to control and stabilize it to the CBI “official” rate.
And I quote from the article- “Al-Karawi said, in an interview with Al-Maalouma, that “the parallel market for selling dollars is still high, and the difference between it and the prices set by the Central Bank is clear, and it is exploited in speculation and perpetuating the price hike in the Iraqi markets.”
But as time went on it became apparent to us investors the dinar was NOT in fact stable as we can see the parallel market rates of 1450, 1490 etc,, compared to the official rate of 1320.
But the good news is that confirmed, on Sunday by the CBI, the existence of a road map of 4 axes to curb the parallel market for selling the dollar.
6. PARLIAMENTARIAN: THE SUCCESS OF ECONOMIC PLANS DEPENDS ON ENDING US DICTATES
On Monday, the representative of the Sadiqun Parliamentary Bloc, Rafik al-Salhi, pledged the government’s success in economic reforms by getting rid of American dictates, accusing the American side of working to sabotage the Iraqi economy by all means.
However, we did see a very recent article that told us they have achieved SECURITY and are now a STABLE country as never before since 2003.
THE IRAQI PARLIAMENT WILL RESUME ITS SESSIONS NEXT WEEK
On the thirteenth of July, the Iraqi Parliament will resume its regular sessions, after the end of its legislative recess.
The representative of the State of Law, Firas Al-Maslamawi, told Shafaq News agency, that the legislative recess for the parliament began after the approval of the general budget law for the Iraqi state, and ends on the 13th of this month.
He added: It is expected that the House of Representatives will resume its sessions at the end of next week, and there is no legal problem or violation of the rules of procedure regarding the convening of the new legislative term days after the end of the legislative recess.
More news….
THE MOST CONTROVERSIAL LAW.. OIL AND GAS ARE BACK TO THE FORE AGAIN
Official circles are waiting for the start of a new phase of the journey to resolve the fate of the draft oil and gas law, as one of the most controversial laws after 2003
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STATUS OF THE RV
I can see the anticipation on everyone looking for the RV these last couple weeks. I too anticipated but not by rumors and only from information directly from Iraqi articles and from my CBI contact. So, what is happening? Let us take a step back today and look more seriously at the situation in Iraq.
I quote from one of today’s article:
“is there any sane person who believes that an institution of the size and capabilities of the Iraqi Central Bank goes to patchwork solutions and is not studied within the framework of miserable attempts to raise the value of the Iraqi dinar, and it knows full well, that the fault is not in what is offered from the dollar, but the question: Where does it go and how? That’s the issue!.”
Again, today I will try to explain to you what is the holdup for the RV. I am not making excuses to try to justify something misleading but to steer us on a correct course. I know it is tempting to listen about bank stories, bank memos, experiences at the banks. But this is just preparation for what we are about to see very soon. So, today I want to go back to the “White Paper”. Do you remember the White Paper? Here is the link to my section specific to it. LINK
In October 2020, Iraq’s cabinet approved an economic reform agenda known as the “white paper,” which identified over 200 reforms, legislative amendments, subsidy cuts, and e-government measures that are broadly in line with previous World Bank and IMF reform recommendations. The new prime minister Al-Sudani is following this reform agenda, however for political purposes they do not refer much to the White Paper anymore. But our ears should perk up when you hear the term “reform”. Which of the reforms I am listing today are part of the plan? Are they then waiting to complete the White Paper reforms which, if we read the White Paper, we can clearly see these reforms culminate in the currency exchange market (FOREX).
Below is the section that I believe within the White Paper that we must pay most attention to. Why pay attention to only this section on page 50? I know this is a large document with lots to do for Iraq but as I said before Iraq already has the value it needs in its currency. It was always there. It never left. It is just that politics, the embargo and the war that torn apart Iraq. It is just that the “program rate” now does not reflect a true value. I know that in 2003 the Iraqi dinar was on the verge of collapse but we are no longer in 2003 and 20 years later much progress in all directions has been made. But does Iraq have to be a super power to have real value to their currency, to have a wonderful GDP to get back the stolen value, to be in the WTO to return the dinar back to its “glory days”. The answer to all these questions is a big fat NO.
Why study this White Paper section?
It is because it deals directly with what we want. We do want the Reinstatement back to the Foreign Currency Exchange Market (FOREX) don’t we? So why not pay particular attention to this section and see if any progress has been made in this area. If you look at items in this section of the White Paper it appears that items 1-5 culminate (happy ending) with item 6 which is opening up the dinar under the umbrella of the securities and exchange commission once again i.e. FOREX.
So the next logical question is this. How do they get there, I mean getting to item 6? They get there by working through items 1-5.
So what progress then have they made in these areas of 1-5?
I want now to show you pieces of articles talking about the progress in these pieces of items 1-5. I can’t bring the entire article here for you today but you can reference them on the White Paper LINK and check them out. But these articles are recent and I have presented them to you already in my newsletters. Did you read them? But today I will bring them again in a different context, context to emphasize a more meaningful message to you. I only hope you can absorb this information today and know that with much confidence the Reinstatement is just around the corner.
From this concept, we set out to define the concept of financial freedom for the individual, as it is the best way for young people to build their personal wealth by investing through securities in the stock exchange, as well as through beginnings in free entrepreneurship. Thus, young people leave the culture of relying on glutted government jobs, which no longer accommodate a tenth of the unemployment rate among young people in our country.
Here, in my article, I will focus on the issue of securities as an important part of the wealth-creation requirements for the figure (financial freedom), which has become a given to save unemployed youth in investing in available opportunities.
However, it is noticeable that the culture of the stock exchange or the trading of securities among young people is weak, and the indicator of this is that the percentage of people who trade in the Iraqi Stock Exchange, especially (local traders), is almost limited with the same faces. For twenty years, I have been following the activity of the stock exchange from time to time, and I find the same faces in the trading sessions.
Now, I see, through the JSC’s initiatives in spreading the culture of securities trading, an ideal way to introduce the younger generation to what the stock market is, ways to trade in it, and the benefits and privileges they get that enable them to build their personal financial wealth (financial freedom). Here I wonder which is better for girls and young men to pioneer cafes and kill time with hookahs, which cost them quite a few expenses, and most of them are unemployed and receive their expenses from their parents, or spend part of their free time in pioneering the stock market and trading in securities to secure better opportunities for recovery and freedom from the expenses of parents?
A simple definition of securities is assets in the form of shares purchased from companies, and you have a percentage of the shares of a particular company, thus achieving profits or benefits, either through an increase in the share price, or through the distribution of quarterly and annual profits, or bonds issued by the government or the institution in the form of guaranteed sukuk and interest. Annual remuneration, thus achieving the principle of financial freedom without waiting for government jobs in vain.
Governmental approaches seem serious this time to address unemployment among young people. Entrepreneurship is done through soft loans to establish small and medium enterprises. Riyada Bank is reliable in this regard. The Securities Commission is seeking to approve the new law of the Commission, which guarantees wide privileges for dealers in securities, in both cases. The state, with its governmental and parliamentary arms, must expedite the approval of laws related to supporting the private sector and its orientations that are capable of achieving reform of the structure of the distorted economy.
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SUDANESE ADVISOR REVIEWS THE “ADVANTAGES” OF IRAQ’S ACCESSION TO THE EGMONT GROUP
Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, announced the advantages of Iraq’s accession to the Egmont Group of Financial Intelligence Units, while stressing that joining the group will make Iraq a key player in financial security at the internal and external levels.
Salih said, in an interview with the official news agency, that “Iraq’s accession to the international group for combating money laundering, crime funds and terrorism, which is called the (EGMOND) group, is a turning point in the course of Iraq’s integration with the units of information exchange and international investigations and cooperation in pursuing the recovery of crime funds.” terrorism and cross-border money laundering.
He added, “Iraq’s accession to this logistical organization in the field of organized international financial investigation in the field of availability of information related to financial crimes will give Iraq a stronghold to be a key player in the financial security of our country and the outside world in a coordinated and integrated manner.”
He pointed out that “the goal of the (Egmont) group, which is the place where the international group was founded in Brussels in the year 1995, came to represent a basic forum and an official network of international cooperation for financial intelligence units around the world in order to provide support to their respective governments in combating money laundering and terrorist financing.” and other financial crimes.
He pointed out, “This support includes expanding and organizing international cooperation in exchanging financial intelligence information, increasing the effectiveness of financial information units by providing training and exchanging employees to improve the expertise and capabilities of employees, and enhancing secure communication between units through the application of technology via the secure Egmont network.” In addition to assigning financial information units and anti-money laundering offices with modern programs and technologies in the pursuit of transient financial crimes.
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IRAQ STOCK EXCHANGE ANNOUNCES TRADING OF 22 BILLION SHARES
Baghdad – NAS
The Iraq Stock Exchange announced the trading of 22 billion shares during the month of June, with a trading value of 32 billion dinars, where the shares of 69 joint stock companies were traded.
The executive director of the Iraq Stock Exchange, Taha Ahmed Abdul Salam, said in a statement to the official newspaper affiliated with “NAS” on Saturday (July 8, 2023), that “the market issued a report last June, which included the reality of trading for the shares of local companies and the volume of foreign investments within the market.”
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IN THE DOCUMENT.. THE CENTRAL BANK DECIDES TO RAISE THE CEILING OF CASH SALES TO EXCHANGE COMPANIES
Proceeding from the objectives of this bank to achieve stability in the general level of prices and exchange rates and to meet the high demand for foreign currency in the local markets. It has been decided to increase the ceiling of the weekly cash amount of dollars allocated to your companies to become (750,000 dollars per week) (seven hundred and fifty thousand dollars).
Starting next Sunday corresponding to 9/7/2023
with respect.
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THE SECURITIES COMMISSION LAUNCHES ITS OWN STRATEGY DURING THE CURRENT MONTH
The Iraqi Securities Commission announced, on Wednesday, its intention to launch its own strategy during the current month, while identifying three main features of the strategy.
The head of the authority, Faisal Al-Haimus, told the Iraqi News Agency (INA), and followed it up with “Al-Iqtisad News”, that “the volume of trading and business that took place in the first half of the current world is good, but it remains below the level of ambition,” noting: “We are working to increase the activity of the Iraqi market for securities.” By supporting him with the tools and mechanisms he needs, according to the government program of Prime Minister Muhammad Shia al-Sudani.
He added, “The Authority is in the process of launching a joint strategy for the market and the Securities Commission during the current month, which will bring solutions to some existing problems, including non-disclosure of the data of companies not listed in the market that trade on the secondary platform, and resolving the issue of the Securities Commission law and sending it to the State Council after the last agreement.” With the market, in addition to the issue of automation and combating the financing of terrorism and money laundering,” pointing out, “This is compatible with the government program and will help us advance the reality of the Iraqi market for securities.”
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XRP PAIR WITH IRAQ DINAR TRIGGERS SPECULATIONS OF XRP’S RISING PROMINENCE
The presence of an XRP pair with the Iraqi dinar on a forex platform has triggered bullish speculations of the growing prominence of XRP in Iraq.
Amid the U.S. SEC’s lawsuit against it, XRP continues to transcend the borders of the United States, rapidly expanding its prominence to several countries. Most recently, proponents believe this growing prominence might be extending into the Middle Eastern country of Iraq.
Pseudonymous Chartered IT Professional and XRP community member Boncryp triggered this wave of bullish speculations following a recent tweet pertaining to XRP’s popularity.
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AL-NUSIRI: IRAQ’S ACCESSION TO THE WORLD TRADE ORGANIZATION CONTRIBUTES TO THE DEVELOPMENT OF THE FINANCIAL AND BANKING SYSTEM
Economy News _ Baghdad
Samir Al-Nusiri, Advisor to the Association of Iraqi Private Banks, confirmed during his participation in the strategy workshop to join the World Trade Organization, which was held jointly and in cooperation with the Ministry of Commerce, trade unions, federations and organizations of the private sector.
Al-Nusiri said that one of the most important returns and benefit achieved by the financial and banking system in Iraq from Iraq’s accession to the full membership in the World Trade Organization is regularity in the global financial system in accordance with the standards of financial services liberalization, entering the circle of financial globalization and exchanging experiences with member countries in the field of modern electronic banking technologies and financing and developing small and medium enterprises.
(come’on folks can it get any better than this?)
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IRAQ AND THE WORLD BANK ARE DISCUSSING STRENGTHENING BILATERAL RELATIONS
04-07-2023
Foreign Minister Fuad Hussein discussed, on Tuesday, with the President of the European Bank for Reconstruction and Development, Odile Reno-Basso, ways to strengthen bilateral relations between Iraq and the bank.
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FOREIGN MINISTER AND EUROPEAN DELEGATION DISCUSS DIGITIZATION OF IRAQ’S BANKING SYSTEM
{Political: Euphrates News} Deputy Prime Minister and Foreign Minister Fuad Hussein discussed with the President of the European Bank for Reconstruction and Development (EBRD) Odile Renault-Basso the possibility of strengthening the private sector in Iraq and digitizing the banking system
The Foreign Minister’s Office said in a statement received by {Euphrates News} that “during the meeting, they discussed ways to strengthen bilateral relations between Iraq and the bank in order to ensure the possibility of strengthening the private sector in Iraq and digitizing the banking system.”
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THE EXCHANGE SECTOR.. UNDER THE HAMMER OF INTEGRITY AND THE ANVIL OF THE CENTRAL BANK!
The past months have witnessed an Iraqi government tightening targeting the activities of the financial exchange markets in Baghdad and the rest of the provinces, represented by penalties, criminal pursuits and the closure of offices, which led to a state of great concern and uncertainty in an already unstable market.
These rough measures taken and are being taken by the Ministry of Interior and the Integrity Commission, clearly indicate the inability of the Iraqi Central Bank to control and control the operations of the movement of hard currency within the Iraqi economy, due to the weakness of the Central Bank’s tools or the inadequacy of its monetary policies to restore stability to the Iraqi financial market, despite the promises, procedures and firmness that it has It was previously launched by the Central Bank, which has proven ineffective so far.
Therefore, the government’s adoption of rough measures to deal with the crisis of the rise in the price of the dollar will inevitably lead to the transfer of many legal hard currency trading operations to other illegal channels that are difficult to track and monitor, and this will negatively affect the speed and flexibility of trading hard currencies for legal purposes and will reduce the dollar money supply in exchange for the continuous increase In the monetary mass of the dinar, and all of this will lead to a loss of control over prices, which will have room for an increase as long as there is an imbalance in supply and demand.
Therefore, the situation has become more urgent to adopt new approaches that focus on blocking illegal channels and providing the facilities and flexibility required for legitimate currency trading markets.
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WHAT IS THE CENTRAL BANK AIMING AT BY MERGING EXCHANGE COMPANIES?
The Central Bank of Iraq aims, through the merger of exchange companies under category A and B, to strengthen the supervisory role, as the importance of the merger is highlighted by the repercussions of the presence of large numbers of exchange companies in an unregulated economic sector, and the importance of merging companies to reduce their numbers on the one hand and raise the level of their organization on the other hand. Merger is one of the most important steps that can be taken to enhance control over exchange companies and improve their financial performance, which helps them overcome the difficulties and problems they suffer from.
From the above, companies must be classified, for the purpose of showing the efficiency of the company with all its regulatory departments, the extent of its commitment and granting it advantages over other companies.
There is an example of these privileges that the Central Bank is supposed to grant to companies committed to banking standards:
1/ Promoting the transactions submitted by the company in record time compared to the remaining companies 2/ Increasing the share of the weekly auction 3/ Directing letters of thanks and appreciation to the company 4/ Contracting companies with exchange companies Foreign and granting them part of the foreign transfers of citizens.
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ATFX LAUNCHES OPS IN IRAQ WITH ASHUR BANK
UK-based online trading and foreign exchange company ATFX has announced the start of operations in Iraq, in partnership with Iraq’s Ashur Bank.
The agreement was signed in Jordan by Joe Li, Global Chairman of ATFX, and Ziad Fatayer, the CEO of Ashur Bank.
Speaking at the event, Managing Director of ATFX Levant, Mr. Ahmad Disi, highlighted the significance of expanding into Iraq, emphasizing the immense potential of the Iraqi market and the valuable opportunities it presented.
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THE IRAQ STOCK EXCHANGE RANKS FIRST IN THE ARAB WORLD IN STOCK TRADING
Today, Monday, the Iraqi Stock Exchange achieved the first place in the Arab world, with the highest daily trading rate for the number of shares traded for the year 2022. And the Iraq Stock Exchange stated, in a statement received by Al-Mutala, that: “On the occasion of the conclusion of the work of the first half of the year 2023 and the organization of the last trading sessions on the shares of Iraqi joint-stock companies on Monday 6/26/2023 in the Iraq Stock Exchange and the advent of the blessed Eid Al-Adha holiday. – We review the most important stock trading indicators during the first half of 2023.
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AL-HAIMUS: THE IRAQI STOCK MARKET WILL BE A COMPETITOR TO THE ARAB FINANCIAL MARKETS IN THE FUTURE
The Chairman of the Securities Commission, Faisal Al-Haimus, affirmed today, Monday, that the Iraqi Stock Exchange will be a vital and effective part of the activities of the Arab financial markets and a competitor to it in the future, in implementation of the government program of the Prime Minister, Muhammad Shia’a Al-Sudani.
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I could go on and on with more article all pertaining to this section either directly or indirectly. We must not go down this hype and rumor stuff from these intel gurus out there. They will torment you, tease you and stress you out. We only need to focus on the FACTS and this will give us assurance that the RV and Reinstatement are coming soon but not yet. I get a laugh out of Bruce (Big Stupid Call) and how he claimed, just on last Thursday 7/6 that the RV happened already in Iraq and that the people are exchanging. This is the same idiot who told us a year ago the RV happened in country at $9. So how can the RV keep happening then every week over and over again. Is this guy mentally unstable? Does he even know what the hell he is saying? So, if you are follower of this jerk I recommend you might want to change your mind.
I also feel that Iraq may also want to address these 6 items too:
1.PASSING THE CONSTITUTIONAL REQUIREMENT FOR THE OIL AND GAS LAW (referendum) see LINK
The first part we already talked about in that the Oil and Gas law and how this is a constitutional requirement. But much more than that. Did you forget already? Why does Iraq outline this news for us if we don’t absorb it and learn from it. Why do I publish my newsletter if you don’t want to take the time to read it and learn from it? So, this is NOT the only reason. The reason for having it in the constitution in the first place is that, as we read in the news the following and I quote from the article:
The political analyst Sabah Al-Ugaili considered, on Sunday, that:
1.approving the oil and gas law will be Iraq’s safety valve in the next stage, while stressing that
2.passing the law will work to end all crises that occur regarding the export of Kurdistan’s oil.
Al-Aqili said in an interview with the information agency:
3.”The approval of the law will redraw the road map for the distribution of wealth among all components.
You see so the comments from my readers of my newsletters is that many of you readers still don’t fully grasp what is going on in Iraq. You leach on to something and want to pin point to a single or a couple events that, when completed, will trigger the RV. Even after I explained over and over again this is not how it works. What Iraq needs is overall STABILITY and SECURITY. How do you define that into something more definitive? I am sorry I do not have the answer. We can only go by what Iraq says to us. I know it is hard and the news is not always dependable. There are translation issues from Arabic to English and then there are opinions given in the articles versus official news. We must be able to decipher the difference.
So as far as the Oil and Gas law, the Presidency of the House of Representatives announced the start of the second legislative term of the parliament, with the first session to be held next Saturday. This chapter is expected to settle the situation on the controversial issue related to the governorates’ shares of oil revenues the Oil and Gas law/Hydrogen Carbon Law/Energy Law once and for all.
Let’s just buckle down, relax and pray that Iraq can work it out and pass this damn much needed referendum. Get it? 😊 I don’t know about you but I am sick and tired of hearing about it already….lol..lol..lol… 😊
2.IRAQ IN USING ITS OFFICIAL CURRENCY, THE DINAR, TO TRANSFER MONEY TO IRAN AND OTHER COUNTRIES, AS A FREE MARKET CURRENCY
The second issue we also already talked about is how Iraq and Iran want to use the Iraqi dinar for trade between their countries. Iraq also wants to use the dinar in trade with other middle eastern countries. This is not just a pipe dream as Iraq is coordinating these agreements as I write this newsletter. But what will be the response from the US government?
The commercial adviser to the Iranian embassy in Iraq, Abd al-Amir Rabihawi, said that pressure from the US treasury prevents the Iraqi side from using its official currency to transfer money to Iran, forcing it to use the free market currency, which differs by 10% from the official currency and harms Iranian merchants.
So, you tell me if this is important. How can Iraq possibly RV and Reinstate the dinar if the US does not even support its use in foreign trade with other middle eastern countries never mind the rest of the world. How can the US Treasury keep approving the RV every week? Oh…but these gurus have such good and honest contacts in the US Treasury…really? It’s all just a game and the US has a team of people hired specifically to control us investors in that we don’t make too many waves. They are so afraid of the corruption getting out to the general news media about the early exchanges by congressmen, senators and their families and friends. They don’t give a shit about us as they already exchanged and this could take forever as far as they are concerned. Get it?
Remember also the original plan to reform Iraq and reinstate the dinar has taken an entirely different path and set of requirements once Obama came on the scene. This is now much different than the G. W. Bush plan. The criteria set by Obama and his administration is almost impossible to complete in the short term. This is how they like it. Folks it has been two decades already since the war. They want time to pass. Time is on their side. It is the easiest way to hide corruption.
Post WW2, the United Nations has helped the countries of Europe to recover from the effects of the world war which was badly affected. The plan was effective only for four years and the US donated dollar 17 billion to recover Europe. Fast forward to today, the US has donated 2 billion to Iraq per month since 2003, you do the math. Where has all this money gone? Still Iraq has not recovered and been rebuilt. Iraq has been a funnel for money laundering and corruption. Where is the US and UN in helping Iraq now? The fact is they don’t want to help or give a shit about Iraq and use the excuse that “they must struggle and find their own democratic path”. What a bunch of shit! But here we sit 20 years later and still no 24/7 electricity or running water. Most provinces are still in rubble. Oh…. but your going to tell me the US supports Iraq? What a bunch of lies!
Yes, the US seems to me to be an obstacle to the RV.
3.DELAY IN OPENING THE BUDGET
The third part to this mystery lies in the budget. I believe this issue may be the underlying casualty of all these events. The GOI is being very cautious in opening the budget knowing they cannot yet fully control all the funds.
Oh…maybe this is why they never opened any of the budgets before and just allocated 1/12 of the funds each month? So let’s take the budget, this puzzle we have not talked much about since its passage in early June. Why the hurry to get it passed then and then signed into law by the president if you are not going to quickly implement it? I don’t understand…. I don’t get it. Doesn’t this seem very weird to you that we are now almost in mid-July and the budget still is not “officially” opened? I can tell you the rush was associated with a window of opportunity to RV but there were other issues not taken care of and so here we sit.
Oh..but I am beginning to understand now what is holding up the opening of the three-year budget, the first of its kind, in fact the only budget I can recall they actually are going to formally implement and track expenditures on. But it is not yet opened. What are they waiting for to open it?
To answer this question, I believe, is we need to look at the financial situation, that includes the conclusion of the currency reform and a convergence of other events. The prime minister himself has told us he is waiting to open the budget. Then Advisor to the Prime Minister Hisham Al-Rikabi affirmed today, Wednesday, the government’s insistence on carrying out more reforms. This means he is waiting for some other events to occur.
4.DISMISSAL OF PUBLIC OFFICIALS WHO MANIPULATED PUBLIC MONEY AND THIS IS A CRIME
Could we chalk up yet a fourth event to the reorganizing of his cabinet? If you read the articles on this topic, you can see that a month ago he claimed he was going to clean out his cabinet from the corrupt. He was going to wait until the budget situation was resolved. Now that the budget is law he is moving ahead with this action. Today I present an article that helps us see more clearly the importance of this move in creating yet more transparency on where and how this budget money is going to be spent. Now imagine however, if the rate did change and the impact on the budget it would have. There would be enormous amounts of money to deal with the opportunity for corruption would be rampant.
5.STABILIZE THE DINAR TO THE CBI “OFFICIAL” RATE
This is BIG one! There is still yet another issue that is not yet resolved fully and that is the parallel market (black market) for the dinar and the inability to control and stabilize it to the CBI “official” rate, surprise!, surprise! And I quote from the article- “Al-Karawi said, in an interview with Al-Maalouma, that “the parallel market for selling dollars is still high, and the difference between it and the prices set by the Central Bank is clear, and it is exploited in speculation and perpetuating the price hike in the Iraqi markets.” And “The exchange rates of the dollar against the dinar recorded on Monday 7/10 a new high in the main stock exchange and banking in the capital”
Oh…but didn’t previous multiple articles tell us three sets of reforms were implemented, this was competed and the dinar was now stable? But as time went on it became apparent to us investors the dinar was NOT in fact stable as we can see the parallel market rates of 1450, 1490 etc,, compared to the official rate of 1320. Yes, there were multiple articles on this subject matter but today’s article tells us something much different.
But the good news is that confirmed, on Sunday by the CBI, the existence of a road map of 4 axes to curb the parallel market for selling the dollar. So for the timing of stabilizing the dinar there is still much work to be done.
I can hardly wait to see what these 4 axes are. We will find out soon enough.
6.PARLIAMENTARIAN: THE SUCCESS OF ECONOMIC PLANS DEPENDS ON ENDING US DICTATES
On Monday, the representative of the Sadiqun Parliamentary Bloc, Rafik al-Salhi, pledged the government’s success in economic reforms by getting rid of American dictates, accusing the American side of working to sabotage the Iraqi economy by all means. Enough said on this one. I have talked about this many times and have showed you article given by the Iraqi people on this topic.
We all should know by now just how corrupt the US government is and how it creates a situation to go to war with it (take for instance the current US proxy war with Ukraine over $100 billion so far give to Ukraine). First they tear it apart, spends billions on the war, then manipulate and control it afterwards. Basically, the US does it from pressure from the “Military Industrial Complex” as the very wealthy need the war revenues and raping of the resources to keep their dynasties and control mechanisms going. We can clearly see the economic hitman alive and well in Iraq.
YOU ASKED AND DO I TRIED TO BE AS COMPLETE AS POSSIBLE TO OUTLINE WHAT MAY BE HOLDING UP THE RV/RI.
However, if you are looking for one single, easily solved event, you are looking by the wrong approach. There is no one single event. I keep saying to you that they need STABILIYT and SECURITY and so who defines when these are achieved? There is no article or person that has ever defined to me clearly exactly what they mean by these definitions. However, we did see a very recent article that told us they have achieved SECURITY and are now a STABLE country as never before since 2003.
