Tuesday, October 3, 2023
"RV UPDATE" BY WALKINGSTICK & MARKZ, 3 OCT
Walkingstick
[Iraqi banking friend Aki update] Your bank opened? Yes it did...The bank was not open until now to the public...Due to the United States Treasury giving them a new license they now can run as an international bank inside of the United States of America that will have to follow all international banking laws inside of America. This is not the only one [bank] that has an opening around the world...As of this hour we're in right now, worldwide 138 of these banks have opened so far...
MarkZ
[via PDK] For those worried about paying taxes on the exchange…..This is from the US state Dept. Bilateral Investment Agreements and Taxation Treaties… Iraq does not have a Bilateral Investment Treaty (BIT) or a bilateral taxation treaty with the United States. ...it states “There are no taxes or subsidies on purchases or sales of foreign exchange.
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.a few sources are traveling back to Iraq later this week in the hopes that this is “it” for them. This is encouraging and we will see if it is accurate...
Hearing some pretty interesting stuff…including confirmations from banks...This comes from different sources... Many of the foreign currencies that we have been look for and talking about are now showing on bank screens. This came after the weekend forex updates
. We believe this is fantastic news...I had a number of bankers reach out …ones that had always questioned and doubted me…saying they think I am right and this is about to go. I am getting excited about this …even though we don’t know the exact timing. Question: Could it be this week? Absolutely...We are still looking for announcements out of Iraq on the 3rd or the 4th….most likely the 4th...
"Controversial Points" Between Baghdad And The Region Delay The Approval Of The Oil And Gas Law, 3 OCT
"Controversial Points" Between Baghdad And The Region Delay The Approval Of The Oil And Gas Law
2023-10-03 Shafaq News/ Member of the Oil and Gas Committee, Ali Abdul Sattar Al-Marshoud, confirmed that the oil and gas law has not reached the committee yet due to controversial points being resolved between Baghdad and Erbil, while its approval is contingent on resolving the controversial points.
Al-Marshoud told Shafaq News Agency: “Points of disagreement between the regional government and the federal government delayed the referral of the law to the Oil and Gas Committee,” noting that “the central government refuses to make a change to the paragraphs that the regional government is required to amend, which is the spirit of the law.”
He pointed out "the continuation of discussions between the Ministry of Oil and the committee formed by the Prime Minister and between the regional government and the political forces to end and resolve the controversial issues."
Al-Marshoud conditioned the approval of the oil and gas law on resolving the controversial points according to the meetings that he considered good and positive, stressing that the law will be approved during the current session after resolving the controversial issues. LINK
An Economic Expert Details The Cash Conversion Cycle Of The Iraqi Dinar, 3 OCT
An Economic Expert Details The Cash Conversion Cycle Of The Iraqi Dinar
Time: 10/02/2023 Read: 533 times {Economic: Al-Furat News} The economist, Salah Nouri, detailed the monetary conversion cycle of the Iraqi dinar.
Nouri said {to Al-Furat News} that: “The monetary cycle {the Iraqi dinar} exists between the Central Bank as the monetary authority and the only authorized one to issue the national currency and the Ministry of Finance as the financial authority authorized to implement the federal budget in terms of spending and collection.”
He added, "The third party is the public, the financial institutions {governmental and private banks} and the trade, agriculture and industry sectors, meaning that the cash that is offered to the public when implementing the budget returns to the Central Bank and then to the Ministry of Finance."
Nouri explained, “What is happening is that the cash raised through the implementation of the budget will not return to the central bank at a high rate and therefore to the Ministry of Finance,” attributing the most prominent reasons for this to “the exclusion of private banks from the currency auction, which no longer deposit the Iraqi dinar with the central bank in exchange for the dollar.” “In addition to the tendency of the public and merchants towards hoarding and dealing in cash not through banks.”
He stated, "The exclusion of private banks from the auction is the main reason; but this does not mean that they have a positive role in the economy. Rather, they only practice speculation in dollars, and they are supposed to engage in economic activity by accepting deposits and lending to economic projects."
Nouri added, “Accepting deposits and keeping a percentage of them with the Central Bank also contributes a percentage to returning the dinar to the Central Bank. This is why the Central Bank’s decision was for banks that were punished by the US Federal Reserve from dealing in dollars to continue dealing in dinars in their economic activities that are not speculative in dollars.”
He stressed that "the Central Bank can provide liquidity to the Ministry of Finance by issuing a new monetary mass, despite its disadvantages."
Specialists in economic and financial affairs reported that despite the large size of the monetary supply, which amounts to (83) trillion dinars, there is a noticeable scarcity of cash liquidity from the Iraqi dinar in the commercial markets, explaining that this comes for several reasons, the first of which is mismanagement. The financial file in the country. From: Raghad Dahham LINK
Coffee with MarkZ 10/03/2023
Kurdistan's presidency condemns "terrorist" attack in Ankara, 2 OCT
Kurdistan's presidency condemns "terrorist" attack in Ankara, 2 OCT
Shafaq News/ The Presidency of Iraq's Kurdistan region condemned the "terrorist" attack that targeted the Turkish capital, Ankara, on Sunday.
In statement, the Presidency expressed deep concern about the serious threats of terrorism and violence to the security and stability of the region. It emphasized the importance of "joint efforts to block the path of terrorism and its sources in the region."
Earlier today, the Turkish defense ministry said its warplanes have carried out raids on suspected Kurdish rebel targets in the Kurdistan region of Iraq on Sunday following a suicide attack on a government building in the Turkish capital.
A ministry statement said some 20 targets of the Kurdistan Workers’ Party, or PKK, were “destroyed” in the aerial operation, including caves, shelters and depots.
Earlier, suicide bomber detonated an explosive device near an entrance of the Ministry of Interior Affairs, injuring two police officers. A second assailant was killed in a shootout with police Sunday, the interior minister said.
An news agency close to the PKK said he group has claimed responsibility for the suicide bombing.
The attack happened hours before Turkey’s Parliament was set to reopen after its three-month summer recess with an address by President Recep Tayyip Erdogan.
Two police officers were slightly wounded in the bombing near an entrance to the Ministry of Interior Affairs, minister Ali Yerlikaya said on X, the social media platform formerly known as Twitter. Assailants who arrived at the scene inside a light commercial vehicle carried out the attack, he said.
“Our heroic police officers, through their intuition, resisted the terrorists as soon as they got out of the vehicle,” Yerlikaya later told reporters. “One of them blew himself up, while the other one was shot in the head before he had a chance to blow himself up.”
“Our fight against terrorism, their collaborators, the (drug) dealers, gangs and organized crime organizations will continue with determination,” he said.
The interior minister did not say who was behind the attack. However, ANF News, a news agency close to the banned Kurdistan Workers' Party, or PKK, reported Sunday night that the group had claimed responsibility for the blast.
Leftist extremists and the Islamic State group have also carried out deadly attacks throughout Turkey in the past.
Erdogan gave his speech in Parliament as planned and called the attack “the last stand of terrorism.”
“The scoundrels who targeted the peace and security of the citizens could not achieve their goals and they never will,” he said.
The president reiterated his government’s aim to create a 30-kilometer (20 mile) safe zone along Turkey’s border with Syria to secure its southern border from attacks.
Turkey has launched several incursions into northern Syria since 2016 to drive away the Islamic State group and a Kurdish militia group, known by the initials YPG, and controls swaths of territory in the area.
Turkey views the YPG as an extension of the PKK, which is listed as a terror group by Turkey, the United States and the European Union. The PKK has waged an insurgency against Turkey since 1984. Tens of thousands of people have died in the conflict.
Last year, a bomb blast in a bustling pedestrian street in Istanbul left six people dead, including two children. More than 80 others were wounded. Turkey blamed the attack on the PKK and the YPG.
The State-run Anadolu Agency reported that the two attackers on Sunday had seized the vehicle in the central province of Kayseri from a veterinarian. The pro-government daily Sabah reported that they shot the man in the head and threw his body into a ditch by the side of the road. They then drove the vehicle to Ankara, roughly 300 kilometers (200 miles) away.
Security camera footage on Sunday showed the vehicle stopping in front of the ministry, with a man exiting it and rushing toward the entrance of the building before blowing himself up. A second man is seen following him.
Earlier, television footage showed bomb squads working near a vehicle in the area, which is located near the Turkish Grand National Assembly and other government buildings. A rocket launcher could be seen lying near the vehicle.
Turkish authorities later imposed a temporary blackout on images from the scene.
Justice Minister Yilmaz Tunc said an investigation has been launched into the “terror attack.”
“These attacks will in no way hinder Turkey’s fight against terrorism,” he wrote on X. “Our fight against terrorism will continue with more determination.”
Police cordoned off access to the city center and increased security measures, warning citizens that they would be conducting controlled explosions of suspicious packages.
The two police officers were being treated in a hospital and were not in serious condition, Yerlikaya said.
Egypt, which has normalized ties with Turkey after a decade of tensions, condemned the attack. A terse statement from the Foreign Ministry offered Egypt’s solidarity with Turkey.
The U.S. Embassy in Ankara and other foreign missions also issued messages condemning the attack.
Erdogan in his speech did not provide any indication as to when Turkey’s parliament may ratify Sweden’s membership in NATO.
Stockholm applied for NATO membership alongside Finland following Russia’s invasion of Ukraine last year. While Finland has since joined, Turkey blocked Sweden’s membership in the military alliance, accusing it of not doing enough to tackle groups like PKK from operating on its soil. In a posting on X, Swedish Prime Minister Ulf Kristersson said Stockholm “strongly condemns today’s terrorist attack in Ankara.”
“We reaffirm our commitment to long-term cooperation with Türkiye in combating terrorism and wish for quick and full recovery of the ones injured,” he wrote, using the Turkish government’s preferred spelling for the country.
Iraq and Russia Strengthen Bilateral Relations; Launch New Development Projects, 3 OCT
Iraq and Russia Strengthen Bilateral Relations; Launch New Development Projects, 3 OCT
Paving the Way for Enhanced Cooperation
The Prime Minister of Iraq, Muhammad Shi’a Al-Sudani, and the assistant to the President of Russia recently convened to discuss the bilateral relations between their respective nations. The meeting aimed to identify avenues for increasing mutual cooperation across various sectors. The Prime Minister confirmed the launch of a development project, the Aluo port, as part of the discussion.
Celebration of National Day
The assistant to the Russian President extended greetings and congratulations to the Prime Minister on the occasion of National Day. The Russian representative reaffirmed Russia’s ambition to strengthen cooperation with Iraq across multiple levels. This mutual understanding indicates a growing diplomatic relationship between the two nations.
Reflecting on Past Relations
The historical relationship between Russia and Iraq has been marked by significant geopolitical events. One such event was the U.S invasion of Iraq, which had far-reaching implications on the bilateral relations between Russia and the U.S. The invasion led to a deterioration in relations that have continued to the present day. The diplomatic cables released by WikiLeaks in 2010 reveal that by the end of 2002, Russia and the U.S were at an inflection point, with Russian President Vladimir Putin having invested significant political capital in attempts at rapprochement with the George W. Bush administration.
However, the U.S. invasion of Iraq brought these efforts to a halt. Russian leaders were primarily concerned about the implications of the war on Russia’s ability to collect the nearly $8 billion debt owed by Iraq. Putin expressed his concerns to Italian Prime Minister Silvio Berlusconi, stressing the need for the United Nations to address the Iraq issue.
Future Prospects
Despite the historical complexities, the recent meeting between the Iraqi Prime Minister and the assistant to the Russian President signifies a promising future for Iraq-Russia relations. The bilateral discussions and the launch of the Aluo port development project are indicative of a strengthened partnership between the two nations. As global dynamics continue to evolve, the strategic cooperation between Iraq and Russia is likely to play a crucial role in shaping their respective geopolitical stances.
EXCERPTS FROM MARKZ, 27 NOV
EXCERPTS FROM MARKZ Member: What are they saying the dinar will be worth now? MZ: They are not. But most people believe it will be in the ...
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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...