Tuesday, November 21, 2023
"RV UPDATE" BY FRANK26, 21 NOV
Frank26
Two months ago a quick little pip movement took the exchange rate of the Iraqi dinar from 1460 to 1320...They were supposed to make the next step.
I told you at that time, 'Now that they've made this movement, let's say 1320 to 1, the next one will be 1,000 to 1 and when they do they will be in position to lift the three zeros and float the currency in a basket...'
Article quote: "Solutions exist, and during our tenure at the Ministry of Finance (2006-2010), we succeeded in increasing the value of the dinar from (1,500 dinars to the dollar to 1,170 dinars to the dollar). We were planning to reach (1,000 dinars to the dollar) and then raise the zeros so that the dinar was equal to the dollar." What?!?
Word for word of what we taught you...This is the last step. IMO the CBI is going to be going to the US Treasury next week...This is exactly what we want next.
Question: " What if you lost your receipt for your dinar?"
Try to get ahold of the individual you bought it from. If they have records...maybe they might help you. My broker does not...If you lost it. Oh, dear. That can be a problem financially for you because you want to hold your currency for one year...
Because...your [tax] bracket is whatever the
government says but if you don't have a receipt or if you don't hold it for a year and you go exchange...that's a different tax bracket. They're going to really bite you hard. It's the difference between 40% tax and 20% tax...[NOTE: Consult your tax professionals at the appropriate time to determinate proper tax for your unique circumstances]
The Iraqi dinar is now going to enter a basket in a float and that's why the CBI has been talking...about the basket and coins... All they talk about is the exchange rate of the Iraqi dinar, about the black market going away and the only way that all of this can happen is if we have a new exchange rate and a new currency to match it. They are preparing [Iraqi citizens]. This is the monetary reform at its highest point...
Rashid from Baku: Iraq today enjoys distinguished international relations and is a fertile environment for investment, 21 NOV
Rashid from Baku: Iraq today enjoys distinguished international relations and is a fertile environment for investment
Today, Tuesday, the President of the Republic, Abdul Latif Jamal Rashid, visited the Iraqi embassy in the Azerbaijani capital, Baku, and met with its staff.
President Rashid stressed during his speech, according to a presidential statement, a copy of which {Al-Furat News} received, that "one of the priorities of Iraq's diplomatic missions is to convey the true picture of the new Iraq and the extent of the clear improvement in the security, political and economic aspects."
He also stressed the importance of the embassy working to encourage investment companies in Azerbaijan to work in Iraq in the investment, economic and tourism fields.
The President of the Republic pointed out that "Iraq today enjoys distinguished relations with all countries of the world at various levels and is a fertile and suitable environment for investment in various sectors."
In turn, the staff of the Iraqi embassy expressed their thanks and appreciation to the President of the Republic for his valuable directives, stressing their continued hard work and development to achieve the highest interests of the country. link
Parliamentary calls to expand the “currency basket” to escape the consequences of the dollar, 21 NOV
Parliamentary calls to expand the “currency basket” to escape the consequences of the dollar
Representative Salem Al-Anbuki stressed, on Tuesday, Iraq’s need to increase the size of the financial basket of foreign currencies other than the dollar to end American hegemony.
Al-Anbuki said in an interview with Al-Maalouma, “The restrictions on the circulation of the dollar in Iraq have created recurring economic crises, especially since Washington uses it from time to time as a pressure card, not in the country but in other countries, which increases the burden on the markets and led to the emergence of the parallel market that is behind the increase in burdens.” Finance on millions of Iraqis.
He added, "Iraq has realized the importance of creating a basket of other currencies besides the dollar to get rid of its restrictions, especially since it has large trade with countries such as China and India, which gives high flexibility in providing the funds necessary for imports without going through the complexities of transferring the dollar."
He pointed out that "many countries, some of which are oil-based, have begun to diversify the currencies in their financial reserves in order to provide greater flexibility in providing funds for import purposes away from the restrictions of the dollar."
The US Treasury created crises inside the country because of its restrictions on the transfer of the dollar to Baghdad and the imposition of sanctions on some banks. link
Coffee with MarkZ. 11/21/2023
Iraq should stay away from Gaza conflict, says PM Barzani, 21 nov
Iraq should stay away from Gaza conflict, says PM Barzani
ERBIL (Kurdistan 24) – Battered by enough issues at home, Iraq should stay away from the ongoing conflict in Gaza, the Kurdistan Region Prime Minister Masrour Barzani said on Tuesday at the MEPS23 Forum in Duhok.
Barzani took part in a special conversation with Ms Maryam Moshiri of the BBC at the Middle East Peace and Security Forum, where wide-ranging topics regarding Erbil-Baghdad issues, ongoing Hamas-Israel war in Gaza, domestic Kurdish politics, and Kurdistan Regional Government (KRG) reform programs, were highlighted.
Addressing the bloody battles in the Gaza Strip, where already more than 13,000 people have been killed and the risk of a regional escalation from the conflict is believed to be imminent; Barzani said “Iraq should stay away from the conflict,” as Baghdad has enough issues to deal with.
The premier denounced the war and slammed any efforts to resolve problems through violence, as the latter “cannot even be a way” for conflict resolution.
In his address on the first day of the forum on Monday, Barzani similarly highlighted the conflict and reminded the audience that the Kurds are also entitled to self-determination rights, as the two-solution has been touted as the key solution for the Israel-Palestine conflict.
“Kurds have also demanded the same rights and dignities, yet our cause has often been forsaken. How do you reconcile resounding support for one just cause and deafening silence for another?” the premier said in the speech.
KRG reforms
In another part of the conversation, Barzani highlighted his cabinet's reforms in various sectors, particularly in the banking and digitalization of public services.
MyAccount initiative, a financial inclusion program that the KRG is currently rolling out, to digitalize the payment system of public employees, will include more than a million public servants by the end of 2024, Barzani said.
Hundreds of thousands of employees in Erbil province are now owning a bank card through the program. The initiative will begin in Duhok and Sulaimani this month, the premier added.
About 1,000 ATMs will be installed over the coming years along with 40,000 payment terminals, according to the premier.
Fighting corruption has also been an integral part of the cabinet since its inception in July 2019, Barzani said, adding his strategy in the fight against corruption is to "stop" it.
"There are individuals who must be held accountable for their bad deeds," he said, adding his cabinet is "on the right track" in fighting the issue.
Climate change
The Kurdistan Region is similarly faced with the adverse effects of climate change in the Middle East, the official said, adding the issue is a source of concern for him personally.
Fighting climate change effects, which have the potential to lead to migration, requires collective efforts, according to Barzani, saying the threats from the issue are "serious" and can be witnessed currently.
He also urged the public to take the threats from climate change seriously.
Youth and Employment
With regard to the young Kurdish population, Barzani said the government has been working to create more opportunities for its youth, particularly with regard to job creation.
Laws have been amended in order to create opportunities for the youth, he said, highlighting the Bloom Project that his government has recently launched to provide financial support for small and medium projects in the region.
In response to a question about the lack of job opportunities in the Kurdistan Region, Barzani said hundreds of thousands of foreign workers are currently working in the Kurdish region.
The government is also working on an innovation center that will help the youth to foster their ideas, he said.
Diversity
"I'm personally not very much fond of the word minorities because we've paid a heavy price for being a minority and we've always been looked down upon," Barzani said, adding the region's citizens "all enjoy the same rights," and the government does not favor a particular group.
"It’s not about the majority and minority, it’s about the diversity of communities, religions, and ethnicities," he added.
"Everybody is equal in Kurdistan," Barzani said.
The Kurdistan Region has hosted over two million IDPs and refugees since 2014 as a result of the Syrian civil war and the emergence of ISIS.
"That speaks volumes about where Kurdistan stands on the rights of different communities," he said.
International oil companies
Barzani said the Kurdistan Region does not only defend its constitutional rights in Baghdad, rather it defends the rights of its partners as well, including the international oil companies that have invested in the Kurdistan Region's oil fields.
He said the Kurdish region will continue defending its rights and will not give them up "to please anyone."
'Wrong timing'
Regarding the latest Iraqi Federal Supreme Court decision that had removed the membership of the Iraqi speaker of parliament, Barzani said the timing of the verdict was "wrong".
He said the Sunni representatives must be respected, as they are an integral part of the Iraqi political process.
https://www.kurdistan24.net/en/story/33213-Iraq-should-stay-away-from-Gaza-conflict,-says-PM-Barzani
DINAR REVALUATION REPORT: " But VND Dong and Iran IRR Rials are making moves again this weekend! " 25 NOV
DINAR REVALUATION UPDATE Not getting too excited….💥💥 But VND Dong and Iran IRR Rials are making moves again this weekend! Almost looks li...
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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...