Saturday, September 16, 2023
"RV UPDATE" BY SANDY INGRAM & BRUCE, 16 SEPT
Sandy Ingram
The Iraq prime minister discussed the cooperation between financial institutions in Iraq and the US Treasury Department with the US Assistant of the Secretary of the Treasury Department, Elizabeth Rosenberg. The meeting addressed measures the Iraqi government took to reduce corruption. The Prim Minister indicated the government is advancing the banking sector reforms which are crucial for the economy's growth by adhering to international standards...
Rosenberg applauded the Iraqi government's outstanding efforts in implementing financial and banking reforms which would support Iraq's attempts to...expand its economy.
The Turkish currency has steadily increased abasing the U.S. dollar since March 2023. If Iraq's currency were to match the Turkish Lira many of us would be looking at $40,000 in profits (with 1 million dinar) even without a so-called revalue. In a matter of months you can reali
ze thousands of dollars in profits when dealing with exotic currencies. It is taking Iraq longer than usual but they have had so many more issues than many countries.
Bruce
[via WiserNow] ...a delegation from United States, a small group that included Judy Shelton, Stephen Munchin, and a couple of senators from the United States...went over to Iraq to have – I’m gonna say, effect the changes that...needed to be made...they're already home...My thinking is that they probably accomplished what it was they went over there to do...
we've heard that everything's done and signed everything was signed off on...everything was signed off by our treasury - and everything was quote, unquote, good to go...The fact that they're back, I believe, is saying that Iraq is finally ready to go...Everything is ready to go is what we're getting from our key sources...
"THIS IS BETTER NEWS THAN ANY GURUS" BY DINAR RECAPS INTEL, 16 SEPT
I received this from a friend this morning, it now has been posted
OK here goes. I have a friend of mine. That is a personal Dinar dealer in the United States. I’m able to purchase Dinar from him anytime and I get the shipment within 3 to 5 business days.
I just got off the phone with him. And he is telling me that his vendor just got all of his dinar confiscated. The vender explained to my Dinar friend that he is no longer allowed to sell and that he will be returning his 25,000USD in 2 days.
The vendor said that they are tightening the noose in iraq and they are stopping people from taking it over seas. My dinar dealer said that the us treasury has caused a wave that is causing vendors to immediately stop.
My own dinar dealer is upset bc he sold all of the dinar and does not have any for himself. He laughed and said he will have to try to grab some off eBay.
My dinar guy sells 10-20 million in dinar a week. Now he’s completely cut off.
I laughed over the phone and found it pretty ironic.
Everybody take that for what it’s worth.
Lastly, my Dinar dealer is very well-versed in cryptocurrency, and he said that the utility coins are going to explode in the next 5 to 6 months. He said if you’re going to buy anything buy XRP. He also said that if you have bitcoin, utilize well bc it’s not going to be high forever.
He also explained that Dinar’s gonna get extremely expensive here in the near future and then after that you won’t be able to buy it
That is exactly what I have been watching for and tracking daily. Because unless and until the currency Brokers stop selling exotic currency the rate has not changed. That's better news than any guru. You can hang out your shingle! Thank you!
from DINAR RECAPS
US Treasury official urges CBI to address dollar misuse risks to avoid further sanctions, 16 SEPT
US Treasury official urges CBI to address dollar misuse risks to avoid further sanctions
Shafaq News / A senior official from the US Department of the Treasury has stated that the Central Bank of Iraq (CBI) must address ongoing risks stemming from the misuse of the US dollar in Iraqi commercial banks to avoid further punitive measures targeting the country's financial sector. The official noted instances of fraud, money laundering, and Iran evading sanctions.
In July, the US barred 14 Iraqi banks from conducting transactions in dollars as part of a broader campaign against unlawful use of the US currency.
According to the official, there are still other Iraqi banks with risks that "need to be addressed" despite the campaign.
With reserves exceeding $100 billion in the US, Iraq heavily relies on Washington's goodwill to ensure its oil revenues and funds are not subjected to US sanctions.
The official added that the action taken by the US in July was based on clear indicators of illegal financial activity. Alleged crimes under investigation by the Treasury Department include money laundering, bribery, extortion, embezzlement, and fraud.
CBI's governor has stated that the country is committed to implementing stricter regulatory rules for the financial sector and combating dollar smuggling. CBI did not immediately respond to a request for comment on Thursday .
Iraq has over 70 private banks, a relatively new development in a sector that was almost entirely state-dominated until the fall of Saddam Hussein following the U.S. invasion in 2003. Among these banks, slightly less than a third are on the US blacklist.
The official told Reuters in Baghdad, "I chose to focus on the banks that still have access, and I see that the risks are ongoing there."
He added, "It would be great if CBI seized the opportunity to address the matter directly, which might negate the need for further actions [in the US]."
Iraqi PM invites World Bank to audit Development Road Project designs, 16 SEPT
Iraqi PM invites World Bank to audit Development Road Project designs
Shafaq News/ Iraqi Prime Minister Mohammad Shia Al-Sudani directed the Ministries of Transport and the Board of Advisors to develop a mechanism for involving the World Bank in auditing the designs of the Development Road Project.
During the third meeting of the Supreme Committee for Implementing the Development Road Project (DRP), Al-Sudani and officials discussed the impact of international road projects on the DRP's work strategy and the economic model presented by the consulting team.
Prime Minister Al-Sudani emphasized the importance of launching the first implementation step and reflecting on the project's impact on various aspects of Iraq's economy, industry, services, and society.
The Development Road Project is a $17 billion infrastructure project in Iraq that aims to connect Asia to Europe through a new motorway and rail network. The project will link the southern port city of Basra to the Turkish border, connecting to existing rail and road networks that lead to Europe.
The project is being funded by a consortium of Iraqi and international investors and is expected to be completed in 2028. It is expected to create thousands of jobs and boost the Iraqi economy by billions of dollars.
The Development Road Project is more than just a road and a railway. It is also a strategic project that aims to transform Iraq into a regional transportation hub. The project will also help to promote regional cooperation and economic integration.
The project is still in its early stages but can potentially be a significant game-changer for Iraq and the region. It is a sign of Iraq's commitment to rebuilding and developing its economy and playing a more active role in the global community.
https://shafaq.com/en/Economy/Iraqi-PM-invites-World-Bank-to-audit-Development-Road-Project-designs
Weekend Coffee with MarkZ 09/16/2023
To control the money... Parliamentary Finance accuses America of putting pressure on the Central Bank, 16 sept
To control the money... Parliamentary Finance accuses America of putting pressure on the Central Bank
On Saturday, a member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, accused the United States of America of putting pressure on the Central Bank of Iraq by preventing the Federal Bank from accessing the funds.
Al-Kadhimi said in an interview with the Maalouma Agency, that “American dominance over the work of the Central Bank must be consistent with the vision of the Federal Reserve and the American Treasury.”
He added, "There are efforts being made by the Central Bank of Iraq to reach merchants' remittances throughout the world."
Al-Kadhimi pointed out that "remittances issued by the Central Bank of Iraq to merchants to import goods continue despite American pressure."
Member of Parliamentary Finance, Mustafa Sanad, had previously confirmed that America is leading colonialism and international blackmail against Iraq by causing an increase in the dollar exchange rate, criticizing the silence of the political blocs regarding this. link
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...