Jordan and Iraq are discussing enhancing economic and banking cooperation
Jordanian Prime Minister Bisher Al-Khasawneh discussed, on Sunday, with Ali Al-Alaq, Governor of the Central Bank of Iraq, who is visiting Amman, the strengthening of economic and banking cooperation between the two countries.
During the meeting, Al-Khasawneh noted the level of cooperation and relations between the Central Bank of Jordan and its Iraqi counterpart, and the two countries’ banking systems, which are distinguished, complementary and flexible relations, and are characterized by the highest governance controls, in a way that serves their common interests. For his part, the Governor of the Central Bank of Iraq stressed the depth of relations with Jordan in various fields.
It is noteworthy that the Governor of the Central Bank of Iraq began, earlier on Sunday, a two-day visit to Jordan, during which he will hold meetings with the Governor of the Central Bank of Jordan and a number of banking, financial and economic leaders in Jordan and institutions regulating electronic payment.
The visit will also include a Jordanian-Iraqi banking summit. ; To discuss economic relations between the two countries, and ways to strengthen them in the future.”link
Judy Note: This coming week the Stock Market was set to crash. Cyber Attacks such as recently happened in Las Vegas (though not covered by the Mainstream Media, including the ransom paid to hackers) could easily not only freeze the entire population’s bank accounts, but steal the monies inside them.
To add to our financial woes, Brazil, Russia, India, China, South Africa, Pakistan, India, Malaysia, Argentina, Iran and Iraq were rejecting use of the fiat US Dollar for international trade – which was creating a goods shortage in stores.
Be advised to stock up on cash, food, water and essentials – there’s a cold Winter ahead.
Rumored GCR Recent History:
Walkingstick (an Iraqi citizen and bank owner): “The tender for the currency and coins has been met per request, meaning (requirements) for release of the new Iraqi Dinar exchange rate has been fulfilled.”
Wolverine: “The funds have been released and placed on the Quantum Financial System.”
On Fri. 15 Sept. Iraq was rumored officially RVd their Dinar.
On Fri. 22 Sept. Iraq allegedly announced the new Iraqi Dinar International Rate as $11.90.
On that same Fri. 22 Sept. the Quantum Financial System was rumored to have taken over the Global Financial System.
On Sun. evening 24 Sept. the QFS was allegedly activated, with all funds gold backed.
On Thurs. 28 Sept. Iraq allegedly abolished the dollar in it’s currency auctions. …Central Bank of Iraq
“On Thurs. 28 Sept. a ten day process began of an automatic increase in the value of the Dinar.” …Frank 26
Fri. 29 Sept was a dramatic beginning of the Stock Market Crash. The Chinese Communist Party Defense Minister, plus theCEO of the World’s largest real estate company, the CCP’s Evergrande, have gone missing – that halted Evergrande Shares on a Stock Market that was already in free fall, while odds soared for a US Government shutdown by Sun. 1 Oct. – any, or all of which could easily bring on a Global Financial Crisis that would trigger a Global Currency Reset.
On Fri. 29 Sept. the HCL Oil payments to Iraqi citizens was allegedly being paid with an In-country Rate of $5+
Rothschild controlled Central Banks have been lowering the purchase power of currencies around the world for a century so their ‘little club’ becomes more powerful and more powerful.
Iran: The US dollar is a tool of US hegemony, and we will no longer use it in our international trade.” – Ebrahim Raisi, President of Iran.
Turkey: We are reducing our dependence on the US dollar and increasing our use of other currencies, such as the Euro and the Chinese yuan.” – Naci Ağbal, Governor of the Central Bank of the Republic of Turkey.
India: We are working to promote the use of the Indian rupee in international trade and investment. We want to reduce our dependence on the US dollar.” – Nirmala Sitharaman, Finance Minister of India.
Brazil and Argentina: Brazil and Argentina have agreed to settle trade in their local currencies, the real and the peso, respectively.
India and Malaysia: India and Malaysia have also agreed to settle trade in their local currencies, the rupee and the ringgit, respectively.
China, Russia, India, Pakistan: The Shanghai Cooperation Organization (SCO): The SCO, a security bloc that includes China, Russia, India, Pakistan, and several other Central Asian countries, is also working to develop its own alternative to the US-dominated global financial system.
The BRICS (Brazil, Russia, India, China, and South Africa): The BRICS have agreed to develop their own alternative to the US-dominated global financial system, including a new currency.
[via PDK] I continue to hear we will not have taxes on this exchange. I suggest everyone plan on having taxes…but hopefully there will be none.
[NOTE: Some gurus feel this will be taxed as ordinary income, others feel capital gains. The only opinion that matters is the IRS's. Always consult with your tax professionals at the appropriate time to figure out the right tax for your unique situation.]
Question: Does the RV (Revaluation) have to happen before Iraq ascends to the World Trade organization on Oct. 4th?
Not...but the dinar has to be a fully accepted international currency all around the world without any restrictions…this would be a massive change.
Kaperoni
Question: "What if anything is Iraq doing to reduce the note count...isn’t a reduction of the note count required before a float can occur?"
It's very difficult for Iraq to reduce their money supply due to the current monetary policy.
Remember, the currency auctions are a balance between dinars and dollars in order to maintain the exchange rate...Using dinar in international transactions would give them the freedom to unpeg and end auctions.
I think the most important thing for Iraq to do is to diversify their economy...
...In order for Iraq to go international they'll have to be IMF Article VIII compliant. They're not close with a current market rate of 1152 which is over 18% from the official rate. Well out of compliance.
Prime minister says development road is a strategic endeavor for the Iraqi government, 2 OCT
Shafaq News/ Iraq's Prime Minister Mohammed Shia al-Sudani on Sunday said that the Development Road project is a vital and strategic endeavor that his government deems a priority in its program.
This came during his meeting with Turkish Minister of Transport, Abdülkadir Önal Oğlu, who is visiting the capital, Baghdad, for talks on the international transit route Turkey plans to establish in cooperation with Iraq.
A press release by al-Sudani's bureau quoted him saying that the execution of the Development Road project will enhance the ties between Iraq, Turkey, and other regional actors that share common interests.
"This is the most efficient, shortest, and cost-effective corridor for transportation, transit, and linking the Middle East with Europe," he said.
Al-Sudani expressed gratitude for Turkey's keen interest in participating in this strategic project, encouraging further technical dialogues between the two countries to formulate the economic model through which the project will be executed.
The Turkish minister reiterated his country's willingness to actively partake in the Development Road project and conveyed his government's satisfaction with Iraq's plans, substantial steps, and constructive efforts to revitalize and reform the Iraqi economy.
Iraqi Parliament's Finance Committee expresses concerns over project funding delays, 2 OCT
Shafaq News / The head of the Financial Committee in the Iraqi Parliament, Attwan Al-Attwani, revealed on Sunday details regarding the hosting of governors of governorates not organized in region in the Parliament building. He emphasized the significant delay in funding ongoing projects, considering it a major concern.
Al-Attwani stated, "The Parliamentary Finance Committee will host the Ministers of Planning and Finance on Monday to seek clarification on numerous questions and inquiries raised by the governorates and committee members."
He added, "There has been a noticeable delay in commencing the financing of many ongoing projects, which is a mistake and unacceptable." He also pointed out that "the Prime Minister and the government program emphasize the continuity of ongoing projects in a natural course and expediting the delivery of services to citizens."
According to a statement received by Shafaq News Agency, the head of the Parliamentary Finance Committee, during the meeting with the governors in the committee, highlighted a clear deficiency in releasing financial allocations for the governorates and ministries. He stressed that "the current government has raised the banner of a national service government, and therefore the committee does not allow the persistence of the problem of delayed financial allocations."
For the first time in its history, Iraq adopted a three-year financial budget in a single law, which was passed by Parliament in June last year. The government defended this step, aiming to lay out plans for important projects in the country and to address the recurring problem of delayed budget approvals, which often lasted several months each year.
According to the budget law, the budget for the current year and the following two years is $153 billion, with an expected deficit of $48 billion. The budget was based on an oil price of $70 per barrel, considering that Iraqi oil exports account for more than 96% of Iraq's financial revenues.
Despite several months passing since its approval, the allocations of the three-year budget have not been implemented on the ground to date. This has led to speculations and inquiries about the reasons behind the delay in implementing its provisions.
Note: All Dinarians should read this.....So it will NOT happen to you!
From InvestorChick at TNT
Lotto Winner Loses It All
I had the pleasure of meeting a very charming senior in the last few weeks. It's my friends mother and this lady is in her 70's.
She won 5 million dollars in the year 2000. I saw a copy of the cheque on the fridge at her son's house. I did a double take because I've never seen a cheque that large.
Of course me being a Dinarian and riding this crazy ride along with all of the others, I have been fortunate enough over the past 5 years to have been educated by people like Tony etc and I have done my research about this kind of thing
All of us have been told the statistics and I do realize that all of this waiting has been hard, although the real challenge comes after our blessing arrives.
My friend told me the story of how his mother had won the lottery and how she had come to "lose it all".
I was fascinated because although we hear about it, I had never met someone in this unique situation. This is her story in a nutshell.
She won 5 million dollars and was not financially educated in any formal way. She made her decisions quickly and without professional help. Her son told me she wanted to "show them all" who she was and rub it in their face, whoever "they" are.
She gave $500,000 to her sister and then $600,000 to each son. She was down 1.7 million to start and it gets dramatically worse from there.
Her sons accepted the gift and my friend was in a not great marriage and of course since he had just received $600,000 from his mother that was not his own lotto winning or an inheritance, his wife when she divorced him was entitled to half.
The other son burned through his quickly as he also had no formal education or did not seek professional help.
My friend however did the wise thing and invested his remaining $300,000, he still has it 15 years later and it's making him money daily.
I repeat, it's invested professionally and it makes him a return daily!
This lady bought a brand new house, hired an interior designer and of course the new performance car, fully loaded. She spent 30-40 THOUSAND per month at the casino because they were "so nice to her", no kidding!
She brought her sister for company and of course her sister didn't spend any of her $500,000. She had an addiction to scratch tickets and lotto tickets even though she had already won.
She handed out $50 tips at the grocery store to the cashiers etc. She had the life she always wanted and she sure made a big splash doing it.
It didn't take long for the money to run out and her to be in a worse situation then when she won the money.
I sat and listened in sheer amazement! I gave her a ride home that night because the battery on her car was going and she didn't have the money for a new one, imagine!
Her son was taking it to be fixed the next day for her and footing the bill.
I drove her home and she went on and on about her house etc. I drove up and although it's a beautiful place it was overgrown and unkept, no money for maintenance, the neighbours must be thrilled.
She invited me in and was proud to show me all of her treasures. My heart truly went out to her as there she was and now it's all gone and the house will be going soon too.
I looked at her and gently asked if she had to do it all over, what would she do different? She looked down and thought about it, looked up at me and said she would have got some help.
Everyone was my friend, she said, until the money ran out. I wished her good night and got in my car and thanked God for that experience in person and up close.
It's real, it happens and it will happen to some of you.
I told her son about this investment and he has some currency, I know she will be looked after but it sure makes you think.
How many shots at wealth does a person generally get in their lifetime?
I'm thinking not too many.
The sad thing about it, is how much she gambled away looking for money and "the win" again.
Folks, when this blessing arrives, your ship came in and this for most of us will be the one shot you get at wealth. Don't waste it!
There are several lessons to be learned from this story.
Be wise, move with caution and be deliberate with your actions. I truly hope by sharing this story, it can help at least one person, my eyes have sure been opened!