"RV UPDATE" BY GOLDILOCKS, 19 NOV

 Goldilocks' Comments and Global Economic News Saturday Evening 11-18-23

Good Evening ,

"Al-Sudani directs government bank managers to submit a plan within one month to develop the banks’ work."

Here we have a banking benchmark from Iraq. Bank managers from Iraq are being told to finish their banking reforms within a month of November 14th, 2023.  At that time, their staff will need to go through logistics training on the new digital asset-based trading system.

We already know that Iraq on January 1st, 2024 will begin using their Iraqi dinar only in trades around the world. The use of the dollar in their International trades will no longer be allowed.

A meeting followed this meeting to go over electronic mechanisms and procedures that would be used to carry this out on an international level.

They are expecting to do a comprehensive economic reform. A comprehensive economic reform takes control away from the government's power over an exchange rate and allows the market to determine it by demand.

In other words, this move will be a dropping of a programmed rate to a rate determined by market analysis and Market flow. It will be a move that reinstates the Iraqi dinar into a real value.

This will be a movement from paper recording to electronic recording of all aspects of their Banking system. Advanced electronic programs and modern technology will serve as their new way of service to the people of Iraq and abroad.

© Goldilocks

https://www.caclubindia.com/forum/reinstatement-of-foreign-currency-38068.asp

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We have always said we would tell you the truth here and we continue to stick by that. So with all the hype around this weekend and the upgrades I wanted to reiterate that we are not to the "RV" yet.

We still have a ways to go, after all "gold has to be free" before we see the "RV". So what is the hype this weekend - ISO20022 comes fully online for SWIFT and multiple other banks and financial institutions.

What this means - simply stated it brings all those finishing their upgrades under one standard used worldwide for financial messaging. The very fabric of the payment systems we have been learning so much about. Is this a big deal - absolutely.

However, this is part of the completion of the digital revaluation that we have been seeing over the last few months. What happens now - once the ISO standards are implemented they will work together with legacy messaging to fulfill payments to those institutions that have upgraded.

How does this change things - with all financial messaging coming under one standard it eliminates the cross-border inefficiencies. This is part of the regulations that is NEEDED in order for us to move forward with the blessing we have all been waiting on.

Please stay grounded, stay focused, and know that we are all in this together. We are here for you and will help answer any of those concerns you may have. Remember, we want the best for everyone, even those that don't care for us because that is what HUMANITARIANS do, we support and love one another. Have a great night and an excellent weekend. See you all Monday morning.   M 🔥

👆  Goldilocks pointed to this. 

I know it's exciting to hear about the news coming out from Iraq, but we must remember that Protocol 20 is not finished until the end of January 2024.

At that time, we will have a month of circulating volumes that support a rate determined by the demand for Iraq that can be placed on the new digital asset-based trading system.

Protocol 20 connects Quantum Technologies from around the world.

Let's see what happens.

© Goldilocks

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Three things have to happen in order for the QFS to be fully activated:

* All Banking Protocols have to be finished leading up to Quantum Technologies being activated.

* All regulations to secure the new digital asset-based trading system have to be passed through legislation.

* And finally, we need to see gold move into a real value.

© Goldilocks

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AI To Enhance Central Banks’ Supervision: Deutsche Bundesbank

ByJill Wong, Regulation Asia Published on 16th November 2023

Joachim Wuermeling of the Deutsche Bundesbank says AI will help central banks do a better job in supervising banks.   PrivateBankJPMorgan Link

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Banking Announcement in the Philippines:

Philippines Set to Issue Maiden Tokenised Treasury Bonds

ByMark Johnston, Regulation AsiaPublished on 17th November 2023

The Philippines will issue the country's first tokenised treasury bonds next week, available in PHP 10 million denominations. CoinDesk Link

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Surge in foreign transfers in CBI Auction, 19 NOV

Surge in foreign transfers in CBI Auction

Shafaq News / Foreign transfers in the Central Bank auction surged by 93% on Sunday, reaching $211 million in cash sales.

Shafaq News Agency's correspondent reported that CBI sold today in its auction for buying and selling the US dollar $225,287,025, covered by an exchange rate of 1305 Iraqi dinars per dollar for documentary credits and international settlements for electronic cards. The rate was 1310 Iraqi dinars per dollar for foreign transfers and also for cash transactions.

Our correspondent added that the majority of the bank's dollar sales went towards bolstering balances abroad, in the form of transfers and credits, totaling $211,227,025, marking a 93% increase from the $14,060,000 cash sales.

He highlighted that five banks purchased cash dollars, while 11 banks met requests for enhancing balances abroad. The total number of participating exchange and intermediary companies in the auction amounted to 49 companies.

https://shafaq.com/en/Economy/Surge-in-foreign-transfers-in-CBI-Auction

"RV UPDATE" BY FRANK26, 19 NOV

 Frank26 

 Community comment "We don't have to pay taxes on dinar exchange."  Stop that nonsense...how dumb is that.  Where in history of the United States of America have you seen our government say you don't have to pay any tax on any of that?  They'll chase you until Hades to get the taxes they think you owe them.  Don't deceive yourself.  Don't be that way.  That's  part of proper stewardship.  You're going to pay taxes and pay them... 

[NOTE: Consult your tax professionals at the appropriate time to determinate proper tax for your unique circumstances]

Once you see the HCL IMO within nanoseconds afterwards you will see the new exchange rate...

  You want to know the exchange rate of the BRICS because maybe, maybe the Iraqi dinar will be 1 to 1 with a basket of BRICS.  Maybe...one clue.  It's an RI not and RV.  

Question:  "Has anything changed in regards to Iraq satellite banks exchanging dinars for US citizens?"  

 No.  They will follow American banking laws.  They won't do anything different than any American bank is doing in American territory.  

Integrity: Recovering 15 Billion Dinars From The Former Authorized Director Of One Of The Electronic Payment Companies , 19 NOV

 Integrity: Recovering 15 Billion Dinars From The Former Authorized Director Of One Of The Electronic Payment Companies 

Economy News  Today, Saturday, the Federal Integrity Commission announced the recovery of 15 billion dinars from the former authorized director of one of the electronic payment companies.

The Authority stated in a statement received by Al-Eqtisad News that “its investigative procedures in the criminal case of the accused, the former authorized director, in the case of tax evasion by the company by providing incomplete information and concealing information related to its accounts for the period from (2010 - 2017) should have been clarified.” ", indicating that "he, in collaboration with employees of the General Tax Authority, caused damage to public funds, represented by the Ministry of Finance, amounting to fifteen billion and one hundred and fifty-four million dinars."

She added, "The company has paid the amount of damage caused to public funds as a result of non-accountability of taxes, confirming the transfer of an amount of (15,154,745,000) billion dinars to the account of the General Authority for Taxes - Senior Taxpayers Section," pointing out that "the General Authority for Taxes continues to request a complaint against the accused and take action." legal action against him for not paying the interest on the amount.”

According to the statement, the Authority pointed out that “a private case has been filed against the convicted accused, the former Director General of the General Tax Authority, because she sent a letter to (5) banks indicating that the aforementioned company is tax accountable until the year 2019, with the aim of moving the company’s accounts in those banks, despite the failure to meet the requirements.” The necessary mechanism used in tax accounting.”

She continued, "The convicted defendant carried out these acts in conjunction with three of her employees who were convicted and sentenced by the Central Anti-Corruption Criminal Court."

Views 59 11/18/2023 https://economy-news.net/content.php?id=37624

Prime Minister Al-Sudani Announces Iraqi Dinar to Become the Strongest i...

The President Of The Republic Confirms To The Pope Of The Vatican: Iraq Has Come A Long Way In Consolidating Security And Political Stability, 19 NOV

 The President Of The Republic Confirms To The Pope Of The Vatican: Iraq Has Come A Long Way In Consolidating Security And Political Stability

Political | 02:52 - 11/18/2023   Baghdad - Mawazine News   The President of the Republic, Abdul Latif Jamal Rashid, confirmed that Iraq has come a long way in consolidating security and political stability.

The Presidency of the Republic stated in a statement, a copy of which was received by Mawazine News, that the President of the Republic, Abdul Latif Gamal Rashid, and the First Lady, Shanaz Ibrahim Ahmed, met with His Holiness Pope Francis, Pope of the Vatican. At the beginning of the meeting, the President of the Republic expressed his “thanks to His Holiness the Pope for visiting Iraq,” stressing

that “Iraqis remember with love and pride this visit, which embodied the concepts of peaceful coexistence and the depth of bonds between religions inside and outside Iraq.”

The President of the Republic pointed out that: “Our region needs to consolidate the foundations of brotherhood and tolerant human ties,” stressing “the importance of concerted efforts to strengthen the principles of dialogue, cooperation, and work.” common among peoples, and that the calls, prayers, and public messages issued by the Vatican have a moral impact in relying on calm, dialogue, and consolidating understanding.” He added, “

Iraq has come a long way in establishing security and political stability, and our priorities today are shifting to providing services, improving the standard of living of citizens, rehabilitating the infrastructure, and developing the economy.” In order to achieve comprehensive development.

He stressed that "Iraq is keen to strengthen democracy, pluralism, and respect for rights and freedoms," noting that "the relationship between the federal government and the Kurdistan Regional Government is good, and there is a will on both sides to resolve the outstanding issues in accordance with the constitution and the law."

The President of the Republic stressed that “Christians are an essential component in building the country, its progress, and its prosperity, and there is the government’s keenness on the return of the displaced Christians, Yazidis, and other components to their areas and resolving this humanitarian issue by providing them with the requirements of a decent life, preserving the Christian presence, and protecting diversity,” indicating that “ The doors of the Presidency of the Republic are open to Christians to consider their demands and issues in a way that secures their livelihood and stability.”

He pointed out that "Iraq has good relations with neighboring countries and the world as they depend on mutual respect and common interests. His Excellency also spoke about the situation in Palestine and Gaza," stressing that "Iraq strongly condemns the ongoing violations and aggression against the Palestinians, and calls on the international community to make more efforts." To stop the aggression, protect civilians, and secure the arrival of humanitarian aid.”

For his part, His Holiness the Pope expressed his “welcome to the visit of the President of the Republic,” stressing “the Vatican City’s support for Iraq’s efforts to strengthen ties between religions and components,” and pointed to “the role of the

Christian component in promoting harmony and solidarity, their sacrifices for a prosperous and developed Iraq, and their adherence to national identity.”

The statement continued, "His Holiness the Pope focused on the importance of enhancing opportunities for peace in the world, since wars mean failure."

The statement noted that souvenirs were then exchanged between the President and His Holiness the Pope, and that the meeting witnessed the presence of Member of Parliament Dylan Abdul Ghafour, the Ambassador of the Republic of Iraq to the Vatican, Rahman Al-Amiri, and a number of advisors and officials.    https://www.mawazin.net/Details.aspx?jimare=238046

Oil Rises After A Week Of Intense Sales Due To Supply And Demand Concerns, 19 NOV

 Oil Rises After A Week Of Intense Sales Due To Supply And Demand Concerns

Saturday 18, November 2023 08:41 | Economical Number of readings: 273  Baghdad / NINA / The price of Brent crude oil, the global standard, remained below $80 per barrel, a day after it fell 5% to the lowest level in 4 months due to increasing fears of escalating supplies from outside the Organization of the Petroleum Exporting Countries (OPEC) and slowing demand.

By yesterday evening, Friday, Brent crude futures rose $1.34, or about 1.7%, to $78.76 per barrel, and US West Texas Intermediate crude rose to $74.1, an increase of $1.2, or about 1.7% as well.

The two benchmarks lost about one-sixth of their value over the past four weeks, and prices are heading towards recording a fourth week of losses.

“Oil prices have fallen slightly this year, although demand has exceeded our optimistic expectations,” Goldman Sachs analysts said in a note.

They added, "OPEC's non-essential supplies were much stronger than expected, and partially offset the OPEC cut."

The reason for the decline in oil this week was mainly due to the sharp rise in US crude inventories and the continuation of production at record levels, and the shrinking demand in China also raised concerns./ End   https://ninanews.com/Website/News/Details?key=1090476