Saturday, November 4, 2023
Iraq’s 100 Trillion IQD Problem: “Hoarded” Notes Need to be in Banking System BY AWAKE-IN-3D, 4 NOV
Iraq’s 100 Trillion IQD Problem: “Hoarded” Notes Need to be in Banking System
On November 3, 2023
By Awake-In-3D
I found this article interesting. I do not know the position of the author, but it appeared in the Arabic-language news website Al-Sabah. What made it noteworthy for me was that it’s the first time I have seen a statement quantifying Iraq’s 100 Trillion IQD outside of Iraqi banks.
This means there is A LOT of IQD notes stuffed away, or “hoarded”, in Mr. Al-Mutwalli’s own words.
I have got to believe that many within Iraq’s economic and political echelons are fully aware that we all hold substantial amounts of IQD.
Or, do they actually believe that most of Iraq’s 100 Trillion IQD is under the mattresses of everyday Iraqi citizens?
Anyway, I seriously doubt that any of our notes will not end up in Iraqi banks until they revalue their currency. Food for thought.
“Official estimates indicate that 85% of the issued cash mass, which amounts to more than 100 trillion dinars, is outside the banking system…” Yasser Al-Mutawalli
Now onto the article…
The article discusses the issue of hoarded money, which is cash that is kept outside the banking system in Iraq.
This large amount of money is not being used for development because people do not trust the banks.
The central bank is trying to encourage people to deposit their money in banks by offering incentives. However, the lack of trust in banks is a major challenge. To restore trust, the article suggests the need for a deposit insurance company to guarantee deposits and provide clear and transparent information about its activities.
The fluctuation of the exchange rate also affects trust. Overall, the article highlights the importance of restoring trust in banks to encourage people to deposit their money and stimulate economic development.
Here is the original article…
Hoarded Money and Depositor Incentives
by Yasser Al-Mutawalli
November 1st, 2023
[Translated from original Arabic]
Official estimates indicate that 85% of the issued cash mass, which amounts to more than 100 trillion dinars, is outside the banking system, referred to as hoarded money outside banks. This means that this enormous amount of cash is disabled from performing its role in development. Since banks, through their credit policies, are the driving force behind economic development, their inability to perform this role is hindering our economy from progressing due to the decline in the performance of development banks.
Meanwhile, monetary policy is heading towards stimulating depositors to engage with banks. The recent circular from the central bank urged banks to facilitate procedures and create incentivizing interest rates to attract depositors.
What challenge does this approach face?
The trust factor is the most difficult and fundamental indicator for the success of attracting and mobilizing hoarded funds from the public to deposit them in banks.
Banks worldwide, in all advanced countries, are the primary engine of the economy through their lending policies that contribute to generating benefits for depositors and bank owners by investing funds and achieving profits. They also contribute to implementing projects, thus facilitating the circulation of funds.
However, the Iraqi banks have, honestly and transparently, lost the trust of the public. This is a deep-rooted problem inherited from the actions of some banks due to weak management and the alienation of depositors.
How can we restore trust in light of the new approach?
The public seeks guarantees (insurance policy) to be encouraged to deposit their savings, which requires facilitating deposit and withdrawal operations in an uncomplicated manner. However, the weak banking behavior of some employees and the complexity of instructions in a bureaucratic manner contribute to the public’s reluctance.
The term “insurance policy” refers to the officially designated entity responsible for deposit insurance in the event of the collapse of a specific bank. This is where the role of the deposit insurance company, recently established for this purpose, comes into play.
Here, I have a critical evaluation of the deposit insurance company, with transparency and clarity, stating that its performance is weak, sluggish, and poorly known. It requires the establishment of a regular and influential media unit to continuously market its activities. The company should provide guarantees to depositors by guaranteeing their funds with an official, signed document distributed among all depositors in any bank, holding legal responsibility for deposit insurance. Otherwise, why was it established?
Thus, it can provide partial security that encourages the public to deposit in banks and gradually restore trust.
We cannot ignore the impact of the fluctuation of the exchange rate of the dollar in creating chaos and undermining trust.
However, we are talking about the national currency, which is still strong and there is no problem in depositing and withdrawing it, with the guarantee of the company.
Source: https://alsabaah.iq/86507-.html
© Awake-In-3D | GCR Real-Time News
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JUDY NOTES, 4 NOV
Judy Note:
To add more fuel to the fire on Thursday, the House Financial Services Committee passed a bill to prevent the bankrupt Deep State Cabal Federal Reserve from creating a Central Bank digital fiat currency.
The next day on Friday morning 3 Nov. six major banks were Cyber Attacked (but could they just be preparing to switch over to the Global Currency Reset?), while a Global Currency Reset window was opened from then until Tues. 7 Nov.
Apparent Timeline:
- On Thurs. 2 Nov. Donald Trump posted “It’s Time” and stated that the biggest event we will have in this country will happen this month of November 2023.
- Sat. 4 Nov: When President Trump said the next 7-8 days would be ones to be remembered it took us to Sat. 4 Nov. – the same day that Bond people have been told they would have liquidity.
- Starting 1 Jan. 2024 the fiat US Dollar would be replaced by the gold/asset-backed US Note; all such gold/asset-backed currencies across the Globe would be on par 1:1 with each other, Social Security benefits will be much higher and the SS R&R payments would start on a monthly basis.
- In the next three to six months the Rodriguez Trust will begin to administer “universal basic income” for citizens of all GESARA-compliant countries. The amount per individual or family will depend on the status, needs, employment level and age of the person/family and will work to encourage people to work if they can.
Global Currency Reset:
- Fri. 3 Nov. TNT: A lot of things are happening that pertain to the RV. Banks received memos on Wednesday, Thursday and today in black-and-white- “The Event” is happening. Banks were told that things are in motion ahead of them & going by levels, and waiting to get to them. But it’s in motion. Yesterday, Tony had the champagne out and ready because he was given a two hour window last night. There is another two hour window tonight. He has been told the window but he cannot tell us. But it is supposed to go tonight Fri. 3 Nov to Sat. 4 Nov. His tonight means anytime after 4 PM until 8 AM. Rates are great. Banks are ready. A three letter agency brought their people in last night thinking it was going to go. Hoping it’s tonight. Everyone is on alert – banks, agencies, Treasury.
- Fri. 3 Nov. 10:42 am: Dubai International Financial Center gave Greenlight for XRP. https://watcher.guru/news/dubai-incorporates-xrp-into-special-economic-zone
- Fri. 3 Nov. TNT RayRen98 on Nader from the Middle East and Clare: Bank staff received “Get Ready” memos this morning (Fri. 3 Nov). They’ve been excited all day. https://dinarevaluation.blogspot.com/2023/11/rv-update-by-rayren98-nader-from-mid.html?spref=tw&m=1
- MarkZ: “Bond folks are still saying they expect theirs on Nov 4th. I hear the 5th is huge from a number of sources. That would make sense if they go late on the 4th and unleash us on the 5th…..but who knows?”
- Fri. 3 Nov. Texas Snake: “Remain alert, keep your phones charged and watch for alerts Sunday (5 Nov.) into Monday (6 Nov.) as a 72 hour window for Iraqi Dinar to be once again recognized by the necessary World Banks to be a tradable currency once again.”
- Thurs. 2 Nov. Bruce: Two different banks reported that the window for exchanges to start was from now to Tues. 7 Nov. The window for notification to make exchange/ redemption appointments were from after 5 pm Fri. 3 Nov. to Tues. 7 Nov. mid morning. Other sources said notifications and appointments should occur in the next couple of days. The age 62 and over Restitution Allowance starts activation this weekend, with monies in your account near your SS date. The SS increase in your payment should also be in your SS payment.
- Arte on Telegram: “Ok guys I sat down with one of my banks branch managers today. They are Basel 3 and 4 compliant. I asked her about the RV and she said she just got an email coming through that said the Tues. 7 Nov. She’s checking in with her higher ups getting back to me. Her response was, how do you know all this? Lol hooowhooo let’s go!”
- Wed. 1 Nov. Kurdistan: The Kurdistan Regional Government (KRG) has announced its decision to exclusively adopt the Iraqi Dinar for all transactions at border crossings and airports, effective on Wed. 1 Nov. https://shafaq.com/en/Kurdistan/KRG-adopts-Iraqi-Dinar-for-border-transactions
- Tues. 31 Oct. Mr. Salvage on Telegram: There was a report that “The Paymaster of New York Michael J. Rubin said that everything was done. All money was in all banks and ready to go. All codes were in. The nation of Colombia was already liquid. Just have patience. We are there.”
- No Digital Currency for the Deep State Cabal’s Central Banks: On Fri. 3 Nov. the House Financial Services Committee passed a bill to prevent the Federal Reserve from creating a Central Bank digital currency.
- Fri. 3 Nov. QFS NEWS: All Banks are Transitioning Over Into the QFS – Start Getting Hold of the ISO 20022 XLM and XRP – 7 Billion People Will Inevitably Transition to the QFS – American Media Group (amg-news.com)
Recent GCR History:
- Overnight Sun. 15 Oct. the Banks completed the remaining layers of payments, plus the IMF and World Bank held their last meeting.
- By Mon. 16 Oct. the Iraqi Dinar had revalued and began trading on the back screens of the Forex.
- On Thurs. 26 Oct. President Trump said the next 7-8 days would be ones to be remembered.
- On Fri. 27 Oct. the US began pulling 3,600 US troops out of Iraq so Iraq could declare themselves a Sovereign Nation, while the new rate of the Dinar was said to have gone International, although had yet to show on the front screens of the Forex.
- Fri. 27 Oct. Alex Collier: “The Dinar went international on Fri. 27 Oct. and on that same Friday they began pulling 3,600 US troops out of Iraq so Iraq could declare Iraq a Sovereign Nation. Two days ago President Trump said the next 7-8 days would be ones to be remembered.”
- Craig Wilson: “On Mon. 30 Oct. it was reported that about a week ago, the Iraqi GOI and the CBI, released to the US Treasury, the NEW International Exchange Rate! This came from an Iraqi Bank Partner of a bank here in the USA! It is also believed that the US Treasury has started some exchange steps with the CBI of some of the Iraqi Dinar that the US Treasury holds in its reserves! Sorry it’s not on ABC or NBC or any Fake Stream News yet, but it is from a source that IMO has credible information! That is all, carry on!!
- Around Mon. 30 Oct. the country of Columbia revalued their currency – so now we have at least two countries – Iraq and Columbia – which have revalued their currencies, perhaps more.
- Oct. 31 All Hallows Eve was when Middle Eastern nations no longer accepting the fiat Petro US Dollar for oil trade, was expected to soon cause a devastating Stock Market Crash – bringing in the need for a Global Currency Reset.
- https://dinarchronicles.com/2023/11/04/restored-republic-via-a-gcr-update-as-of-november-4-2023/
"RV UPDATE" BY BRUCE & WALKINGSTICK , 4 NOV
Bruce
[via WiserNow] ...we got some intel today...and it comes from a very strong source...a military source and the information was...our notifications will come out between after five o'clock Friday [today]...when the markets are closed and the banks are just about closed...to Tuesday, mid morning.
I would say, based on what we're hearing, the fact that the Intel is sort of drying up a little bit, the good and a bad sign, it's a good sign for us in that - It shows how close everything is it shows how the proximity is ready to go.
Walkingstick
Question: "It seems to me the United Staes Treasury wants a new exchange rate for the dinar. Do you think they want the exchange rate not so much to benefit Iraq but for all the Iraqi dinars that we have in our Federal reserves?"
Yes...And the new exchange rate they agreed upon through the RV they gave it to the US Treasury when they went over there last week. That's why they're all excited. They know it's about to happen...Our Feds are pushing for its release to happen now because they got what they wanted...
China’s ZPEC Approved for Oil Ops in Iraq, 4 NOV
China’s ZPEC Approved for Oil Ops in Iraq
Zhongman Petroleum and Natural Gas Group Corporation (ZPEC) of China has announced that they have received a letter from Iraq’s Petroleum Contracts and Licensing Directorate (PCLD). The letter confirms the approval of ZPEC’s qualifications for development and operations of oil and gas fields in Iraq.
In a statement released on Thursday to the Shanghai Stock Exchange, the company announced that obtaining this qualification is necessary for its involvement in the exploration and development of oil and gas blocks in Iraq. Furthermore, the company added:
The Iraqi Petroleum Ministry thoroughly evaluated the Company in various areas, including oil and gas field management, financial management, financing capability, legal risk management, operational technology capability, environmental protection, safety assurance, personnel training, and more.
The Iraqi government’s recognition of the Company’s comprehensive strength in the oil and gas field led to the smooth approval of its qualification for oil and gas field exploration and development.
Acquiring this qualification will enable the Company to capitalize on investment and development prospects in top-notch oil and gas fields in Iraq. This will pave the way for the Company’s constant growth and advancement in its oil and gas exploration and development portfolio, and will infuse new vigor into its long-term and stable development.
Going forward, the Company will conduct thorough evaluations of the applicable oil and gas field blocks in line with the bid documents that have been publicly released by the Iraqi Petroleum Ministry. The Company will make wise decisions while taking into account the investment climate of the host country and the actual circumstances of the Company.
The company has been active in Iraq, winning multiple drilling contracts.
French President Macron and Kurdistan’s Barzani Meet in Paris: A Symbol of Enduring Alliance, 4 NOV
French President Macron and Kurdistan’s Barzani Meet in Paris: A Symbol of Enduring Alliance
In what is being described as a ‘very important’ meeting for the stability of Iraq, French President Emmanuel Macron and Kurdistan Region President Nechirvan Barzani convened in Paris. The meeting aimed to bolster bilateral ties between France, Iraq, and the Kurdistan Region, while also exploring avenues for advancing mutual cooperation. A critical point of discussion was the current situation in Iraq and the wider region.
France and the Kurds: A Historical Bond
France shares a deep-rooted relationship with the Kurds and the Kurdistan Region, a bond that dates back to the 1980s. Danielle Mitterrand, the first lady of France from 1981 to 1995, played a pivotal role in advocating for the Kurds who were suffering under Saddam Hussein’s regime. France was among the first nations to establish a consulate in Erbil after Saddam Hussein’s fall in 2003, and has been instrumental in assisting the Kurds in Iraq and Syria in their fight against ISIS .
Regional Dynamics and the Role of France
The meeting between Macron and Barzani occurs at a pivotal time when regional dynamics are shifting, and delicate regional balance is at stake. The cancellation of the ‘Third Baghdad Conference’ owing to Iraq’s unstable situation paved the way for Barzani’s visit to Paris. The purpose of the meeting was to reaffirm France’s presence in Iraq and address the rapid changes in the country, while also aiming to prevent major conflicts in Iraq and the region.
France’s Interests and Investments
France has significant investments in Iraq, particularly in energy projects, and closely monitors the security and political shifts in the country. The meeting also occurred amidst concerns about the potential spillover of the Israel-Hamas conflict into the region. Macron’s urgency to meet Barzani underlines France’s interest in maintaining stability in Iraq, especially the Kurdistan Region.
