THE BIG CALL HIGHLIGHTS, 6 OCT

 Thurs. 5 Oct. 2023 Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#, 667-770-1865

• Bond Holders Tier 3 will get notification of liquidity over the weekend.
• Tier4b (Us, the Internet Group) will be notified either Sat. 7 Oct. or Monday afternoon 8 Oct. and will begin appointments either Mon.8 Oct. or Tues. 9 Oct.
• The Restitution and Recreational Allowance was based on bonds on our lives. You will get back you federal taxes paid since the 1940s, interest on mortgages, bank loans, car loans and credit card interest – along with interest earned.
• Those 60 and older will be paid in three equal monthly payments starting in the fourth week of October. Those 50-60 will get payments over 12 months and those younger will be paid out over 15 years, but they have to be employed.
• SS will continue to pay out at the same time you normally get it with amounts significant higher. It will top out at $5,200 and be paid out for three months. After Jan. 1 those SS benefits will be much higher.
• There is one contract rate for the Dinar.
• As Zim holders  you can use whatever percentage you want for your project and what you want for yourself.
• The Zim is paid out at a 1:1 with the US Dollar.
• Tues. morning 3 Oct. at the Redemption Centers representatives from the US Treasury entered the country codes for each nation’s currency. A ping came back to assure it was valid. That went on for 12 hours. That made it so the Redemption Centers could receive currency from each nation for the US Note.
• On Fri. 6 Oct. the US Note will be fully in the system and available in the bank Fri.6 Oct. or Mon. 8 Oct.
• $3500 in cash currency would be available at your appointment.
• You can move a certain amount of money in the first 90 days. You need to determine how much that is.
• We can only set up one account at the Redemption Center.
• You will have 30 min. for your appointment.
• You will have 3-8 min. for your Humanitarian Project presentation.
• You will get a debit card.
• You will get a $1,000 Certificate for a Quantum Computer.
• Zim holders get Q phones.
• You will sign an NDA.

Central Bank of Iraq Refutes Rumors About Exchange Rate and Clarifies Status of Foreign Transfers, 5 OCT

 Central Bank of Iraq Refutes Rumors About Exchange Rate and Clarifies Status of Foreign Transfers

Central Bank of Iraq Refutes Rumors About Exchange Rate and Clarifies Status of Foreign Transfers

Dispelling Misconceptions

The Central Bank of Iraq (CBI) has stepped forward to clarify rumours and dispel fears regarding the exchange rate of the national currency and the status of foreign transfers. The bank has emphatically denied allegations that the exchange rate has dipped to 170 thousand dinars for $100.

 Additionally, the bank clarified the standing of cash withdrawals, stating that the suspension is only applicable to incoming transfers from outside the country. Importantly, the bank reassured that citizens’ assets in US dollars are not affected in any way by this suspension.

US Measures and Their Implications

On July 26, 14 Iraqi banks released a joint statement expressing concerns about the negative consequences of being barred from dealing in dollars. These restrictions, although attributed to U.S. sanctions by the Iraqi government and other sources, have been clarified by the U.S. Department of State. 

They are not sanctions but measures taken by the Treasury Department and Federal Reserve Bank of New York, removing these banks’ access to the Central Bank of Iraq’s foreign currency sale window. This has resulted in a curtailed utilization of the US dollar. The measures are seen as part of the United States’ ongoing efforts to reduce Iran’s access to international financial networks. The primary objective is to curtail Iran’s ability to access US dollars through Iraqi banks and disrupt the flow of funds that could potentially be used by Iran to support activities contrary to US interests. Now, Iraqi banks are required to record any dollar transfers on an electronic platform. The US Federal Reserve assesses the transfers and cancels any transaction deemed suspicious. In the past few months, the Federal Reserve has rejected 80% of requests for money transfers to Iraqi banks, due to concerns about the final recipient of these transfers.

Response and Repercussions

The impacted Iraqi banks responded with a joint statement highlighting the emerging economic consequences of these measures. The dinar-dollar exchange rate dropped from 1470 dinars to the dollar to 1570 dinars to the dollar in two days. The banks affirmed their readiness to challenge the measures and face audits through the Central Bank or an international auditing firm, taking full responsibility for any violations if committed. 

With these restrictions, nearly a third of Iraq’s 72 banks have been blacklisted. Following these changes, demonstrations erupted in front of the Central Bank in Baghdad, protesting the sharp decline in the exchange rates of the Iraqi dinar against foreign currencies.

Moving Forward

Speaking on the sidelines of the 2023 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), the Governor of the Central Bank of Iraq, Ali Al-Alaq, stated that Iraq is taking measures to control the exchange rate of the dinar. He clarified that the US requirements for controlling transfers are not restrictions but the application of laws on money laundering and combating terrorism. 

The problem of the exchange rate is related to pre-audit procedures for external transfers of hard currency and is not linked to an internal financial crisis. The governor also stated that the US Treasury agrees with Iraq on expanding external transfer channels. The Iraqi delegation, led by Al-Alaq, began meetings with the International Monetary Fund and the World Bank in Washington, and the US Treasury Department expressed its willingness to assist the Iraqi Central Bank in achieving stability in the exchange rate of the dollar against the dinar.

" RV UPDATE" BY PIMPY, 6 OCT

Pimpy

  Community comment "We are looking at the very least 2 to 3 years left to go if they can keep on
the same track they are currently on..."  That's my thinking, it's going to take about 2 to 3 years.  Before everybody starts banging their head against the wall, that's for it to reach its full potential.  I'm the one who thinks it should go up in increments. 

It's going to take at least 2 to 3 year,  you might be around 1 to 1around that time.

Article:  "Financial expert: The International financial system prevents Iraq from dealing with non-dollars"  It's kind of hard to be part of a system that prevents you from dealing in non-us dollars...People are not using the central bank.  The United States is not helping the central bank central the issue.  They're creating the issue.  They're creating the black market. 

Article:  "Iraq is fourth in the Arab world by possessing the 'lion's share' of gold reserves"  I always love to hear that.  Right now Iraq is holding 132.6 tons of gold.  You notice that these nations are still buying up large quantities of gold, which is a good sign.
now if you want to know the full story.

Iraq to Cease Dollar Cash Withdrawals: A Bold Attempt to Curb Illicit Financial Activities , 6 OCT

Iraq to Cease Dollar Cash Withdrawals: A Bold Attempt to Curb Illicit Financial Activities

This substantial measure will attempt to quell the misuse of a substantial portion, approximately 50%, of the $10 billion that Iraq imports in cash from the New York Federal Reserve annually.

De-Dollarization: A Strategy Against Monetary Misuse

This is also a strategic move in the nation’s broader campaign to de-dollarize an economy where the U.S. dollar, rather than local notes, is the go-to currency for a populace wearied by recurring wars and crises since the 2003 U.S. invasion.

The policy, however, exempts dollar deposits made before the end of 2023, which can still be withdrawn as dollars in 2024. Deposits made in 2024, however, will only be accessible in local currency at the official rate, currently set at 1,320. In contrast, the parallel market rate for the Iraqi dinar is around 1,560, approximately 15% below the official rate.

Curtailing Misused Dollar Withdrawals

This dynamic policy decision does not plan to target all dollar transactions, as it would only affect those accounts receiving transfers from abroad. In previous efforts to regulate its dollar demand, Iraq established a platform to oversee wire transfers, a system that was notorious for fake receipts and fraudulent activities. These past transactions diverted dollars to Iran and Syria, both under U.S. sanctions. That system had since been nearly sealed off, directing dollars at the official rate to those involved in legal trade such as food imports and consumer goods.

Iraq’s Tricky Balancing Act: Washington’s Goodwill and Iran’s Interests

Caught in a balancing act between Washington’s goodwill and Iran’s interests, Iraq relies heavily on U.S. compliance to keep its oil revenues and finances uncensored. Simultaneously, the current government, backed by potent factions close to Iran, aims to placate Tehran, but also avoid upsetting local groups with vast interests in Iraq’s informal economy.

The Looming Dollar Shortage

Local banks have already begun curtailing dollar cash withdrawals in recent months, exacerbating a cash scarcity that has made the parallel market exchange rate on an upward trajectory. A multitude of reasons, including public unease over the financial system and dollar-denominated loans being repaid in dinars, have led to these measures and corresponding shortages.

Managing the Parallel Market Rate

With the impending rules, the Iraqi dinar could devalue further — a plausible side-effect of formalizing the financial system that the Central Bank of Iraq deems as tolerable. Striving to function optimally, the bank continues to provide dollars at the official rate for all legitimate purposes, showing little concern for the parallel market rate, which they portray as a hotbed for illicit transactions. To this effect, the central bank contends that the impending steps should reduce the parallel market exchange rate, suggesting there’s no indication it would reach 1,700.

Public Dissatisfaction Surfaces as Dollar Shortage Intensifies

Signs of public frustration are already showing as dollar shortages grow. Circulating social media postings show a Baghdad bank depositor threatening to burn down the building unless he receives his dollar deposit in cash — a scene eerily echoing the desperation demonstrated during Lebanon’s banking catastrophe.

Kurdistan: A Historical Overview of the Kurdish Struggle for Identity and Autonomy

Kurdistan: A Historical Overview of the Kurdish Struggle for Identity and Autonomy

When we talk about Kurdistan, we’re referring to a region that has seen thousands of years of cultural and historical transformation. A loosely defined geo-cultural location in West Asia, Kurdistan has been the heartland of Kurdish culture, language, and national identity. The name ‘Kurdistan’ first appeared in 11th-century Seljuk chronicles, marking the beginning of a distinct Kurdish identity rooted in this region. The Kurds, primarily inhabiting the northwestern Zagros and the eastern Taurus mountain ranges, have a rich history, spanning several empires and dynasties from the 8th to the 19th centuries.

20th Century: The Emergence of Kurdish States

In the 20th century, Kurdistan saw the establishment of various Kurdish states and autonomous regions. Iraqi Kurdistan, for example, gained autonomous status in 1970, which was reconfirmed in 2005. This represented a significant milestone in Kurdish history, cementing their place within the broader geopolitical landscape. With the Syrian Civil War, Kurds established self-governing regions in northern Syria, further asserting their demand for autonomy.

The Ancient Roots of Kurdistan

Historically, the region of Kurdistan has been home to diverse groups, falling under Persian rule during Cyrus the Great and Darius I. The Kingdom of Corduene – a vassal state of the Roman Republic – was a significant player in the region’s ancient history, ruling northern Mesopotamia and southeastern Anatolia from 189 BC to AD 384. The term ‘Kurdistan’, meaning ‘Land of the Kurds’, is a testament to the enduring presence of the Kurdish people in this region.

The Future: The Kurdish Quest for Autonomy

Today, the quest for an independent nation-state or greater autonomy within existing national boundaries continues to drive Kurdish nationalist organizations. The Kurds are key players in regional geopolitics, particularly in countries like Iraq, Syria, Turkey, and Iran. The potential future ramifications of their struggle for autonomy are significant and likely to impact the Kurdistan region and the broader West Asian region.

Whiskey and Wisdom with MarkZ 10/05/2023

Iraq's Central Bank disproves Reuters report, affirms accuracy of dollar deposits policy, 5 OCT

Iraq's Central Bank disproves Reuters report, affirms accuracy of dollar deposits policy, 5 OCT 

Shafaq News/ The Central Bank of Iraq emphasized that citizens' deposits in U.S. dollars within Iraqi banks are a guaranteed right. This assurance followed recent reports that raised uncertainties about the safety of these deposits.

In a statement, the Central Bank clarified that certain remarks attributed to Mazen Sabah Ahmed, director-general of investment and remittances at the Iraqi Central Bank (CBI), in a Reuters report, were inaccurately presented. 

According to Ahmed, "The Central Bank guarantees dollar deposits. Citizens who have deposited their money in U.S. dollars with any Iraqi bank, whether previously or by 2024, have an inherent right to receive these amounts in cash and U.S. dollars."

Contrary to some media interpretations, the statement reiterated that there was no indication of an anticipated exchange rate reaching 1,700. Ahmed clarified that the Central Bank has practical tools to minimize differences between exchange rates. Furthermore, he revealed that ongoing measures are being implemented to reduce these discrepancies, ensuring a more stable financial environment.

Ahmed highlighted the ongoing reforms and stressed that the Central Bank's initiatives align with international compliance standards. These reforms aim to prevent the unauthorized acquisition or speculative use of the U.S. dollar while enhancing the transparency and integrity of the Iraqi banking system.

Ahmed specified that the announcement of January 1, 2024, as the date for ceasing cash withdrawals, pertains exclusively to transfers received from outside Iraq under specific arrangements. This measure is designed to ensure the sustainability of business operations and does not impact citizens' dollar balances in any way.

Earlier, Reuters reported that Iraq will ban cash withdrawals and transactions in U.S. dollars as of January 1, 2024, in the latest push to curb the misuse of its hard currency reserves in financial crimes and the evasion of U.S. sanctions on Iran, a top Iraqi central bank official said.

Reuters quoted Ahmed as saying that the move aims to stamp out the illicit use of some 50% of the $10 billion that Iraq imports in cash from the New York Federal Reserve each year.

"You want to transfer? Transfer. You want a card in dollars? Here you go; you can use the card inside Iraq at the official rate, or if you want to withdraw cash, you can at the official rate in dinars…But don't talk to me about cash dollars anymore." Reuters quoted Ahmed saying.