FIREFLY: Channel One says Iraq needs half of the existing exchange companies and banking needs to be rehabilitated.
FRANK: Yes they’re shutting them down left and right…they’re selecting which ones they will give licenses back to because they will need many money exchangers when the rate goes up inside of Iraq because they…will bring in their 3-zero notes and exchange them for the lower denoms because the lower denoms will be more powerful than the 3-zero notes and IMO more powerful than the American dollar.
Mark my word.
Article Quote: “Many financial advisors in the government hope, with the release of budget funds, that next month will be a catalyst for the very large decrease in the dollar exchange rate.”
Well the CBI can’t do that. How can you get a very large decrease in the American Exchange rate against the dinar? By adding value to the Iraqi dinar exchange rate. Which is what they’re about to do.
I…want to remind everyone again that when they do decide RV they must follow “the process” already set up to do it as I was told in 2011 by Dr Shabibi. Also…all the other past rate changes… article after article came out afterwards telling us about them. This is what will happen again. Folks the RV, when it happens, will NOT be a secret. Get it? It will be sudden and swift.
In summary the process begins in Iraq with the project to delete the zeros. Once they complete this project they must wait and watch for inflation (1 -2 weeks), then if all goes well, they will trigger the reinstatement to FOREX. So, I am told right now we are waiting for yet one more rate change from the 1320 to around 1000. I think more like 1100ish, 1166ish… The rate of 1320 is very close to it…
MilitiaMan (KTFA)
There was an article…41 million forged dinars seized by the Kurdistan region. 41 million dinars isn’t a lot of money right? But what it was was 41 million 25,000 notes that were seized that were forged. Why would somebody do that? They would do that because they’re trying to figure out a way to game the system because they know something’s changing.
They’re going to have to be able to get to the stage, ‘Look are we going to do the allocations for the 2023 budget…? Are we going to disperse that money? Are we going to spend it?’ They haven’t done that yet. They’re not going to be able to buy all those widgets at 1310, build those bridges and all those different things. It just doesn’t work…
MarkZ
[via PDK]
It’s exceptionally quiet on the RV front…A lot of them say things appear to be on schedule …but nothing more than that…We have the Iraq budget scheduled to release on the 20th.
Question: I wonder are we going to see something this month?, or going into next month
?
MarkZ: I very much think we will see it this month.
Iraq is cleaning dinar off the streets…cleaning up…from counterfeit to illegal dinar…They have already taken in $1.4 trillion in dinar off the streets in the last few days. This is part of the same effort to support the value…they are getting rid of corruption…they are trying to control the dinar completely so they can justify a value change…
they are working hard towards it… I believe its going to happen quicker than we think…They will go after the majority of the corruption then release the new rate. I think its imminent…Iraq has put themselves out there with projects…they need that change in value.
On Mon. 14 Aug. 2023 the ISO 20022 XRP & XLM Stellar Blockchain Digital Payment System went live for 200 countries – meaning that the old Cabal CBCD was disconnected and was switched over to the Quantum Financial System. Expect more bank closures and down times when ATMs won’t work.
Wed. 16 Aug. Texas Snake: “A banker has his staff on alert, but not immediate alert. His outlook is that (the RV) will happen just before, or at the time that the currencies were announced as gold backed worldwide, with the possibilities that we would be advised to exchange within a day or two of that announcement. None of that exchanged currency would be released until that asset backed announcement was broadcast. My contact is the individual who is in charge of Exchange Centers, so he is way down the line of folks in the know, but he will be advised before the actual release so he can have his centers open and folks in place.”
Wed. 16 Aug. MarkZ: “Pretty quiet from the groups, paymasters and bonds….we just hit what they are claiming is the new window yesterday. Bond holders expected to be paid by the 20th…at the latest.”
Texas gold backed currency goes into effect Fri. 1 Sept.
On Wed. 9 Aug. the new Iraqi Dinar Rate was believed to have revalued at a 1:1 with the USD and then began trading up on the Forex back screens.
On Thurs. 10 Aug. the direct payment system was activated to send funds internationally person to person.
Tier 4b should be notified to receive appointments to exchange foreign currencies and redeem Zim bonds within 48 hours of Bond Holders and before the BRICS Summit Aug. 22-24.
The Gold/asset-backed USN was expected to be announced between Aug.18-21, or most certainly at the BRICS Summit in Johannesburg South African Aug. 22-24.
“I just got confirmation from my sister-in-law, the new bank that she started working at told her today that the US treasury money would be released in a week’s time.” …RV Highlights on Telegram
Because of the restrictions.. Central Bank of Iraq: We cannot intervene in the market to lower the exchange rate Wed, 08-16-2023, PM 5:36 Karrar Al-Asadi 270
The Governor of the Central Bank of Iraq, Ali Al-Alaq, said on Wednesday that his country has made great strides in applying restrictions on the supply of the US dollar, but it is facing an uphill battle in light of a banking system that is not accustomed to strict controland currency smugglers sticking to their activities."It is really a battle because the beneficiaries of this situation and those affected (by the new measures) will try in various ways to continue their illegal activities," he added in an interview with Reuters.
Al-Alaq did not mention Iran by name, and said that he did not have data on the volume of dollars smuggled from Iraq to Iran or any neighboring country, including Turkey and Syria, before the United States tightened the rules in November 2022.
US actions aimed at imposing sanctions on Iran are a sensitive issue in a country that has long been on the front line of the rivalry between Washington and Tehran. Al-Alaq said Iraq's reserves are more than $100 billion
, but he cannot intervene freely in the market to lower the exchange rate due to the restrictions.Last month, US officials said the US Treasury and the Federal Reserve blocked 14 Iraqi banks from conducting dollar transactions as part of a broader campaign to smuggle dollars into Iran through the Iraqi banking system. Al-Alaq said that the transactions that led to the sanctions took place in 2022, before the launch of a new platformaimed at improving transparency.
The Iraqi Central Bank also imposed stricter regulations on dollar transfers, requiring dealers to enter an online platform and provide detailed information about the final future of the transfers. He added that he central bank was conducting a review of the banking sector and would implement new regulations and rules that he said would likely see some banks closed.
"It will be very normal in the coming period to see a decrease in (the number of private banks)," he said. He said, There are always side effects, but at the same time we have a responsibility to protect the country's interests by trying to find the necessary means of monitoring and oversight so that we do not expose the country to any issues on this front."
US PRESIDENT BIDEN’S ADMINISTRATION TALKS ABOUT A (360) PARTNERSHIP WITH IRAQ
Last week, the American capital witnessed the first Iraqi-American meeting on “joint security cooperation”. The title appears to be a repetition of slogans, but in reality it is a turning point in US-Iraqi relations.
Twenty years ago, US-Iraqi relations were that of an army that invaded the territory of another country and overthrew Saddam Hussein’s regime, then faced the rebellion, then left according to an agreement and returned to confront ISIS, and now he wants the Americans to work only to help the government in this last mission.
A senior official in the US Department of Defense confirms that the United States understands that the mission against ISIS will end, and therefore the two sides began to discuss what comes after this mission.
360 degrees
The joint statement issued at the end of the talks at the Pentagon building talks about a “360-degree comprehensive partnership,” and a senior official at the US Department of Defense said, in a meeting with reporters after these talks, that the “promised” relations could include “bilateral and multilateral military exercises, exchange Information and intelligence exchange, and of course selling US-origin weapons and helping the Iraqis maintain this equipment and follow up on its proper use for border protection and other operations.”
These American proposals carry with them many challenges, the most important of which is that the Iraqi forces will be an army similar to the American army. Engaging in bilateral or multilateral exercises means that the elements of the two armies will speak the same language. As for the exchange of information, especially intelligence, it means that the two parties will work after the stage of combating terrorism to be two friendly armies, exchanging confidential information and each side is confident that the other party will not misuse it, and that this information will not be leaked to a third party.
Iraqi transformation
The Americans now see that the Iraqi forces are forces with a good ability in counter-terrorism affairs, and the great challenge for both sides will be to transform this Iraqi military force into an army that works with the Americans in achieving the goals of “integrated deterrence and regional security,” according to the American official, which is what he meant when he spoke. To the journalists, “Iraq becomes part of the structure of American-Arab cooperation to protect the airspace, lands, and waters from any aggression, whether by a state or by terrorist organizations.
These matters should not be viewed as new for the Americans, as the current President Joe Biden, when he went to Jeddah in the year 2022, the countries of the Gulf Cooperation Council were present, and Iraq was also present, along with Jordan and Egypt, but the external and domestic pressures that Iraq is exposed to put it in a different category.
Chris’ note:Stocks are taking a bath again today. That’s down to another hawkish speech on rates from Fed chairman Jay Powell. It’s more bad news for buy-and-hold investors. But it’s great news for traders.
As I’ve been showing you, traders look forward to days like today. That’s because they can profit as stocks rise or fall. And they can be in and out of a trade in days.
It’s all in today’s insight from Market Wizard Larry Benedict. He made $95 million for clients of his hedge fund in 2008. And last year, as another bear market raged, he gave subscribers of his One Ticker Trader advisory the chance to close out the year up 240% on cash.
What’s his secret sauce? Read on to find out…
Most folks think you can only profit on stocks in bull markets.
But as I’ve been spreading the word on, that’s not true.
Although buy-and-hold investors need rising stock prices, traders can profit in either direction.
The big gains usually come when stocks drop… And we see more of those drops during bear market conditions like we’re living through today.
For instance, this year I’ve given my subscribers the chance at returns of 39% and 54% closing out trades on a falling Nasdaq.
I know this is new for a lot of people. So today, I’ll show you how I gave my subscribers the chance to close out a 62% gain in just a week as one of the world’s biggest stocks took a dive.
It’s a classic example of the “mean reversion” trades I love to make.
Playing the Snapback
Stocks tend to revert to their long-term average after they make dramatic moves.
So, I look for stocks that have overshot in either direction… and profit when they snap back toward their average.
That’s what happened to blue-chip tech stock Microsoft (MSFT) after it overshot to the upside last month.
Take a look…
From early January to its peak in February, MSFT rallied 26%. But as it reached a new high (upper orange line on the chart), I could see its momentum had peaked (lower orange line).
That’s thanks to the Relative Strength Index (“RSI”). It compares the strength of a stock’s move on up days versus down days. This points to oversold and overbought conditions.
And when price and momentum diverge, a change of direction is not far away.
MSFT’s chart wasn’t the only reason it was due a fall…
False Narrative
As I’ve been showing my readers, there’s a false narrative that inflation is no longer a problem.
This has led to the hope that the Fed is about to stop hiking rates.
This would be good news for Microsoft and other tech stocks, which tend to perform best in low-rate environments.
But on February 14, the Consumer Price Index (“CPI”) reading for January came in hotter than expected.
This pulled the rug out from under MSFT… and the broader tech market.
That’s bad news if you’re a buy-and-hold investor. But it provided the perfect setup to profit from a fallin Microsoft’s share price – what’s known as a short position.
On Tuesday, February 14, I recommended subscribers of my Opportunistic Trader advisory open a short position on MSFT by buying put options. These are side bets on the movement of stocks that increase in value when the stock falls.
The stock market was closed the following Monday for Presidents’ Day. And when the market opened again on Tuesday, February 21, I sent out an alert to sell that MSFT put option, closing out the trade for a 62% gain.
I didn’t capture the entire move lower. But I’d rather book a profit for my readers and leave some money on the table than let those profits slip away… or turn to losses.
There were two reasons why I closed out that trade…
Extra Oomph From Options
When a blue-chip like Microsoft gaps down like this, bargain hunters start to buy, pushing the stock higher.
By closing out the trade, we avoided the risk of that scenario playing out.
The other reason goes back to the chart I showed you. Here it is again…
My exit point coincided with the RSI testing support (green line). If the RSI had shot higher, it would have sent MSFT higher, too. This would have taken away some of our profits.
It’s important to note that this 62% return was from trading an option contract. Options give you “leverage” – or extra oomph – over the move in the stock price.
If I had directly shorted shares instead, the return would have been lower.
That’s the benefit of using options. You can amplify the returns you make over a short span.
And it’s why I’m so excited about my Shockwave Summit that airs tomorrow.
Circle Your Calendar for March 17
It’s all about a wave of volatility scheduled to slam into the market on March 17.
That’s bad news for many investors.
But if you know how to play these shockwaves as a trader, this volatility is to your benefit.
Just like our MSFT example, we can find points where stocks become oversold or overbought… and profit when they snap back.
