Monday, December 11, 2023
"RV UPDATE" BY FRANK26, 11 DEC
Frank26
We're at the stage now where there's no need to look for anything. There's a need to watch everything that's coming out. Everything that's going to be coming out is the ambrosia of our study, the reward of our years of studying together.
There's only one thing left on the CBI's and Sudani's part of the monetary reform...bring out the new exchange rate and the new national currency that belongs to the Iraqi citizens and to their future. That' the one thing that's left.
There is no more guessing. The World Bank has just told the whole world Iraq is about to raise the value of its currency.
Question: "How long will we have to exchange IYO?" The American dollar 3-zero notes are still legal tender. They're from the turn of last century! We still have 3-zero notes...and they've never been expired. But in this case it's different. IMO I think they'll probably give you within a year. Therefore it could be a year, six months, 3 months ...
Of course they [the banks] are going to verify it [your dinars upon exchange]. I love when people say, 'Hey Frank I need my Certificate of Authenticity...So I can give it to the guy at the bank to prove this is real dinars.' Who told you that? 'The guy that sold me the dinars...'When you take your dinars to a bank they are not going to say let me see your certificate of authenticity. They will tell you if they are real or not.
The CBI meetings are in Dubai right now...they are coming to a conclusion. Were the CBI meetings discussing, should we use this rate, should we do this, this this, that? No. What they were discussing is, 'Are we going to release it on this date at this rate and this is what we have to do and this, this, this and this.' Okay! Now these meetings IMO are coming to a conclusion. Yeah, they are working a few things but it's over and done with.
KRG delegation, oil and gas companies’ reps address resuming oil exports, 11 DEC
KRG delegation, oil and gas companies’ reps address resuming oil exports
ERBIL (Kurdistan 24) – A negotiating delegation of the Kurdistan Regional Government (KRG) consisting of a senior team of the Ministry of Natural Resources met with oil and gas production companies on Sunday in Erbil.
The meeting covered the most recent developments in the negotiations between Erbil and Baghdad regarding the oil laws and budget, as well as the actions taken by the KRG to protect the region’s constitutional rights and find a solution.
The meeting also expressed the Kurdistan Region’s desire to resume oil exports as soon as possible with the representatives of the companies, which requires finding a common understanding of all parties on the cost of production and transportation of oil.
Moreover, the meeting addressed the challenges faced by oil companies in the past few years, caused by a combination of global conflicts and the economic repercussions of the COVID-19 pandemic.
Finally, both sides decided to continue such joint meetings to find common solutions, resolve outstanding issues, and resume oil exports, set to play an important role in the economic recovery of the Kurdistan Region and Iraq.
The export of Kurdish oil through the Iraq-TĆ¼rkiye Pipeline has been halted since March 25 after Iraq claimed victory against TĆ¼rkiye at a Paris-based international court for allowing the KRG to independently export its oil.
Earlier on Dec. 5, the Association of the Petroleum Industry of Kurdistan (APIKUR) expressed its concern that Kurdish and Iraqi natural resource officials did not invite representatives from the organization to bilateral meetings.
APIKUR member companies complained they have “neither been included in these meetings nor been invited to participate in any future meetings between the KRG and GOI [Government of Iraq].”The meeting of the negotiating delegation of the KRG and oil and gas production companies, Dec. 10, 2023. (Photo: KRG)The meeting of the negotiating delegation of the KRG and oil and gas production companies, Dec. 10, 2023. (Photo: KRG)
kurdistan24.net
"RV UPDATE" BY MARKZ, 11 DEC
MarkZ
[via PDK] ...I am hearing the push is to be well underway by [January]. I’m hearing they still want money moving by Christmas. But nobody knows the timing…
I have one real positive banking story. A banker who was working at one of the large banks that is planning on being part of all of this…they work in wealth management...he figured out the RV was real and started buying currency. He switched jobs because of pressure and went to work at another bank in a lower level of wealth management …Oil Continues Gains as U.S. Seeks to Buy Strategic Reserves, 11 DEC
Oil Continues Gains as U.S. Seeks to Buy Strategic Reserves, 11 DEC
Economy News _ Baghdad
Oil prices rose in early trading on Monday, continuing their gains for the second session as the U.S. seeks to revive its strategic reserves, providing some support, despite continued concerns about a glut of crude and weak fuel demand growth next year.
By 01:19 GMT, Brent crude futures rose 11 cents or 0.2 percent to $75.95 a barrel, and WTI crude futures increased seven cents or 0.1 percent to $71.30 a barrel.
The two crudes jumped more than 2 percent in Friday’s contract settlement, but fell for a seventh straight week, the longest weekly decline since 2018 as concerns continued over oversupply.
Despite the Organization of the Petroleum Exporting Countries (OPEC) and its allies, or the group known as OPEC+, to cut production by 2.2 million barrels per day (bpd) in the first quarter, investors remain skeptical that supplies will fall as production growth in non-OPEC countries is expected to lead to a supply glut.
This week, investors are squeaming interest rate indices from meetings of five central banks, including the U.S. central bank, and U.S. inflation data to see their impact on the global economy and oil demand growth.
https://economy-news.net/content.php?id=38361
"RV UPDATE" BY WOLVERINE & SANDY INGRAM, 11 DEC
Wolverine
...The big meeting in Dubai is finished now – everything is ready. Iraq is ready. They should be ready to celebrate. Then so should we. My Whale said it all looks good, everything is moving. By Mon. 11 Dec. they will be celebrating in Iraq and it is my opinion that so should we.”
Sandy Ingram
[We] tried to ignore this news however, that is not possible Article: "Iraqi PM places security forces under investigation over US embassy attack" Iraq is doing what they can, but have not been able to stop the attacks against American Forces in Iraq. Article: "Iran-backed militia vows more attacks after US Embassy in Iraq comes under fire" When you attack the embassy of another country, this is far more serious.
The Central Bank of Iraq confirmed some Iraqi banks are transferring dollars from their accounts to intermediary banks who are distributing the dollars to their customers. The Central Bank of Iraq said this will contribute to reducing the exchange rate of the parallel dollar...[We're] thinking this is to keep the black market intact. This means the decision to only use Iraqi dinar in all transactions beginning January 1, 2024 may cause concerns and the Central Bank of Iraq is making moves to control any possible issues.
Article: "Inflation rate in Iraq declines in 2023 compared to 2022"
The Central Bank of Iraq announced the inflation rate decreased in 2023 compared to 2022. Inflation in Iraq reached approximately 3.7% in August 2023, compared to 4.4% in August 2022. Iraq's inflation rate is good compared to many countries where inflation has reached 30% and 40%...
Wealthy Iraqis move to the Caribbean. Guess who's on the list? ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch
individual involved in corruption.... The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical. Citizens can travel to 144 countries without a visa..
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.
Article: "Inflation rate in Iraq declines in 2023 compared to 2022"
The Central Bank of Iraq announced the inflation rate decreased in 2023 compared to 2022. Inflation in Iraq reached approximately 3.7% in August 2023, compared to 4.4% in August 2022. Iraq's inflation rate is good compared to many countries where inflation has reached 30% and 40%...
Wealthy Iraqis move to the Caribbean. Guess who's on the list? ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch
individual involved in corruption....The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical. Citizens can travel to 144 countries without a visa..
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.
Economist: Non-Oil Revenues To Achieve Significant Growth In 2024, 27 NOV
Economist: Non-Oil Revenues To Achieve Significant Growth In 2024 Wednesday 27 November 2024 | Economic Number of readings: 141 Baghdad /...
-
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...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...