Judy Note: It is my personal opinion, and I could be wrong, that we will receive through email from Wells Fargo Bank (Wells Fargo is owned by the Chinese Elders) a link to a secured website.
I will advertise that website in my Update and others will publish it on their websites. You can send that website to anyone you wish so they can make their own appointments.
You go into that website and it will ask you a series of questions to determine that you are you. It will ask you if you have Zim and/or currency to exchange. After which it gives you a specific 800 number to call to make your appointment.
That 800 number is assigned to only you, you should not give it to someone else to use and you can only use that number once.
You cannot make appointments for others unless it is under special circumstances.
When you call your 800 number, the person on the other end of the line will make your appointment, giving you time and address for your appointment, and answer your questions.
Remember: When you own assets in your own name, you open yourself up to being sued and potentially losing everything you’ve worked so hard to accumulate.
When you own assets in various legal entities such as holding companies, trusts and LLC’s you can protect the vast majority of your wealth by bifurcating your assets.
Only the entity which has legal liability is subject to legal claims. This is a legal structure that all millionaires and billionaires use and so can you! You don’t have to be a billionaire to protect what you have worked so hard to acquire.
You don’t have to have a trust set up before your appointment as they will give you a Skeleton Trust at your appointment to put your monies in. You will have 90 days to transfer your monies from that Skeleton Trust into one or more trusts you have set up for yourself.
If they're going to go from 1310 to something different...likely to get into the international world with a Fair Effective Exchange Rate there's going to be a major change to the commercial system ...
Obviously he's [Alaq] talking about changing the commercial system. So something has to change and what we think that is...is their exchange rate.
Article quote: "The decision to collect fees in Iraqi dinars at border crossings is an important decision aimed at preserving the hard currency and also straightening the Iraqi dinar"
They have a goal of stop using the dollar and using the Iraqi dinar at the customs borders. Everybody should be clicking their ruby slippers because that's going to be a lot money. A lot of revenues are going to come through those borders.
Quote: " Any party that does not adhere to this decision will be subject to punishment." They're getting strict.
When people say there's not too much progress going on - well some of these things take a long time to put together and most of them are coming into fruition as we speak.
85% of it is in homes... “Hoarded cash” is the most difficult equation in reforming the banking system
Today, Monday (October 23, 2023), the financial advisor to the Prime Minister, Mazhar Mohamed Saleh, set the priorities for reforming the banking system and the conditions for achieving it.
Saleh told the official agency, “The basic function of the banking system is bank credit or granting loans and is based on a basic lever aimed at attracting hoarded funds from outside the banking system and pushing them into banking channels.”
He added, "Banking reform can play its effective role in searching for easy banking mechanisms that help at the same time strengthen credit activity or grant loans, and proceed with financing economic activity more broadly without stumbles in bank liquidity."
He stressed that "this will achieve the goal of central banking reform in achieving easy, low-risk credit, through the availability of reform mechanisms capable of regularizing the flow of funds within the banking system and transferring them from economic surplus units (saved and hoarded) outside the banking system to become in the form of bank deposits that are protected." Sufficient liquidity risks are then transferred through credit or lending operations to financial deficit units that are looking to obtain financing to carry out investment and economic activity.
He pointed out that “the fundamental problem that the banking system suffers from, and the aspiration to reform that system, lies in the following question, which is: How can banks reverse the hoarding equation represented by the public’s retention of about 85% of the issued currency, which is still in the form of hoarded balances outside the banking system and is considered inactive, unused balances?” Effective, and does not provide any important service to the national economy, and that some of it operates with very high usurious borrowing risks?
Saleh believed that “one of the priorities of banking reform is to work to reverse the hoarding equation to become a savings equation with which the public’s surplus funds flow in the form of safe bank deposits, which requires that banks compete to attract deposits and provide loans in accordance with the banking management requirements that banks must work with, whether they are Governmental or private?
The Prime Minister's advisor continued, "Therefore, the basics of banking reform are for banks to search for adequate, effective and influential means that attract the public to open bank accounts, because the bank account is one of the basics of financial inclusion and encouraging individuals of all segments to make bank deposits, and by encouraging means the priority for the depositor to be obtained is On bank credit or banking facilities when needed before others, to ensure that the public is encouraged to make double deposits.
He noted that "the banking system still deals with only 15% of the monetary mass issued into circulation until today, which is called cash leakage outside the banking system, and it is one of the basic indicators from which banking reform begins."
He pointed out that "the priorities of banking reform are achieved in providing competitiveness by winning public deposits by facilitating cash deposit procedures and creating an effective atmosphere of reassurance that the deposited funds are protected according to the law and that the Iraqi Deposit Guarantee Company is the primary protector of deposits against banking risks."
He stated that “the first and final goal of reforming the banking system will remain based on quickly providing facilitated banking services to economic activity with the highest levels of facilitation, in addition to providing positive incentives to the public in order to deposit, whether with encouraging bank interest or facilitating (easy and safe) deposit and withdrawal methods for their money, in addition to obtaining loans.” "Before others."
He pointed out that "the overall banking reform that we are looking forward to requires searching for means that embody the ability to transfer funds from the surplus units that hoard cash wealth (the public), which are mostly unemployed and hoarded, to be transferred to the investment forces that are searching for funds to complete the national income cycle and contribute to economic growth through... Granting credit and carrying out the real productive activity necessary to sustain development, which at the same time requires sustainable bank financing coupled with banking reforms as a precondition. link
When you ask when is it going to happen... ask how is the cleaning going. How is the removal of Iran...eradicating the smuggling going. That's what we want to know. Nothing else.
Because once the atmosphere is suitable you're going to get what you want. You're never going to get rid of the cockroaches but you can definitely control them. That's what's happening right now - corruption is being controlled, it's being cleaned up.
Major powerful countries are coming into Iraq. It's going to affect their currency exchange rate. More than anything else it will rocket their float and that when you have to be very astute. Watch it...You've got to watch the rate in the float. Know when to hold'm and know when to fold'm. Know when to backoff.
Question "Many years ago Dr. Shabibi said the dinar would be able to support it up to $16. Would that still be true for the RI?"
No, it's far past that but it would be illogical to come out at $16 or $28 or whatever. You need that margin for the float.
You don't need it to show off. That's what Kuwait did and they realized their mistake...The next day
they brought it back down very quickly. It gave a window for sharks and whales...and they made massive amount of money. Obviously it was done on purpose. And obviously the IMF doesn't allow that to happen again.