Saturday, December 16, 2023
"RV UPDATE" BY BREITLING, 16 DEC
Breitling
Question: "When it does revalue, when do we get out? How long do we wait?"
That depends on your own needs. Are you trying to get a house? Are you trying to pay off a loan? What is it because once you hit that number get out. Or if it doesn't go up to that number - Let's say you're trying to make...$250,000 and you realize the investment is only going to get you about $180,000, then get out! Diversify. Get into something else. Don't just stick around.
The only way you can answer those questions is you have to put a piece of paper down and realistically what is it that you want. You have to be realistic about it.
You can't say the first thing is I'm going to start off with a $50 million dollar mansion. Don't be stupid...Let's be a little more practical. A home over your head, debt free, for you and your family...then you can go for the big stuff. Your investments are based on that...what it is you want.
Statement of the Iraq Economic Contact Group of the G7, European Union and World Bank, 16 DEC
Statement of the Iraq Economic Contact Group of the G7, European Union and World Bank
December 2023
On December 12, the Iraq Economic Contact Group (IECG) held the final meeting of 2023, co-chaired by Italy and the United States.
As friends and partners of Iraq, Canada, France, Germany, Italy, Japan, the European Union, the United Kingdom, the United States, and the World Bank commit to supporting Iraq in the implementation of a comprehensive and ambitious reform agenda, paving the way to sustainable and inclusive economic development.
The IECG is eager to strengthen its engagement with the Government of Iraq (GOI) through regular dialogue at both the political and technical level. This engagement is crucial to streamline cooperation between the two sides, identify and support common goals, and support the GOI’s priority reform areas. The IECG commends Prime Minister Mohammed Shiaa al-Sudani for appointing business and economics experts within his office and looks forward to collaborating with them.
The IECG was encouraged by Prime Minister Sudani’s announcement of new economic reform initiatives throughout 2023 and the passing of a historic three-year budget that laid the foundation for implementation of the government’s reform agenda. In October, Iraq gained membership to the European Bank of Reconstruction and Development (EBRD) – a move strongly supported by the IECG as the first step to unlocking new sources of investment and enhanced cooperation with other multilateral and bilateral financial facilities.
In the past month, the government convened conferences on Public Private Partnerships (PPPs) and tax reform, including a new bank sector reform project with Rafidain Bank. Further, the GOI recently announced the establishment of the Iraq Fund for Development (IFD) alongside the Development Road project, and the Prime Minister strengthened economic ties with regional partners. The GOI’s efforts to expand the use of digital platforms for financial transactions, with electronic payment and other e-commerce mechanisms, represent important steps to minimize the informal economy and reduce opportunities for corruption.
Looking ahead to next year, the IECG welcomes further cooperation in support of Iraq’s economic and financial sector development, including Prime Minister Sudani’s policies to strengthen the dinar and oversee monetary policy. Clear communication of new dinar policies during the transition period will help avoid adverse effects on Iraqi households and businesses as well as on development cooperation projects and foreign investments in Iraq.
The IECG also stands ready to support Iraq’s next steps to becoming an EBRD Country of Operations, its journey toward World Trade Organization accession, and its potential partnership with the European Investment Bank (EIB). EIB’s expertise in road, railroad, water and sanitation investments, climate action, environmental sustainability financing as well as urban transmission initiatives will accelerate key infrastructure measures and help facilitate a green transition.
The IECG urges further attention in 2024 to address the deficit and public sector wage bill, measures that would improve fiscal resilience. Timely budget execution will be critical to the GOI’s ability to sustain important infrastructure investment, particularly in expanding domestic power generation, distribution, and expansion of green energy. Long-term sustainable economic development is contingent on a dedicated response to pressing climate and environmental challenges. Sustained investment in water management and infrastructure is critical to counteract the debilitating impacts of climate change.
To accelerate private sector growth, the IECG encourages government action to identify and address the challenges faced by domestic and international business, including efforts to promote transparent and predictable regulations. In this vein, we welcome further progress on the PPP, Companies, Industrial Investment, Customs, and Arbitration laws as well as timely implementation of the recommendations from the recent PPP and tax reform conferences.
On January 1, Italy and the United States proudly hand over the IECG to incoming co-chairs France and the United Kingdom. Under their leadership, the IECG will continue to support an ambitious reform agenda, promote sustainable economic development, and stand by Iraq’s side as a reliable friend and partner in 2024.
Ambassador, Economic Opportunity, Events, News, Speeches & Statements
https://iq.usembassy.gov/statement-of-the-iraq-economic-contact-group-of-the-g7/
"CALIFORNIA GOLDEN VALLEY BANK STORY" BY FRANK26, 16 DEC
Frank26
[California Golden Valley Bank Story]
Bank Story Lady: (family friend) had an appointment yesterday. Whenever the banker found out how many dinar that we are holding in our group which is about half a billion he said that was too much, they weren't going to be able to handle that much...Then this morning he got a call from his bank Golden Valley and they said look we had a meeting about you and your group last night.
FRANK: They had a meeting about his issue with the dinar?
BANK STORY LADY: Yes, because it was so much. They invited him back...we're waiting for that update.
FRANK: The updates came...Turns out this bank has told this group of people...we can't handle that much volume at our banks, therefore we are sending you to an exchange center and they will give you 4.5% to put it in the bank. They said Morgan Stanley are the people we are going to introduce you to for a management company to help you when you come in towards the end of the year.
"RV UPDATE" BY NADER FROM MID EAST, 16 DEC
Nader From The Mid East
It's a very good video [Central Bank Iraqi's dinar propaganda/advertisement video that came out Friday - you can see it below Guru Frank26's 12-8-2023 post] . I like it a lot...It's an advertisement for Iraq to use only Iraqi dinars. That's very very very good thing. That's big big step. Big step we taken. It's not bad...I said it before and I'm repeating it, in January things it's going to change big, big, big, time. Big time. If I was you, I'll be ready.
They are start to prepare people to use only the dinar and they start advertisement...they call it education, I call it advertisement. Things are going good...somewhere 1 to 1.
[See the Iraqi dinar advertisement video under Guru Frank26's post below]
Question "Can you talk about the steps involved in cashing in dinars?" When exchange time comes we're going to have to go to three things - Redemption center, 1-800# or the army base. :)
[Nader is clearly joking about these three things]...People are telling them that. That's wrong. The only thing you can do to change your money, walk to your bank, if they accept it, or go through exchange offices. There's no redemption centers, no army bases, there is no 1-800#s, nothing that way.
[NOTE: Gurus disagree on the potential exchange procedures. Stay tuned to Dinar Guru as this important subject unfolds and become clear.]
https://dinarevaluation.blogspot.com/2023/12/rv-update-by-nader-from-mid-east-11-dec.html
They are start to prepare people to use only the dinar and they start advertisement...they call it education, I call it advertisement. Things are going good...somewhere 1 to 1. [See the Iraqi dinar advertisement video under Guru Frank26's post below]
https://dinarevaluation.blogspot.com/2023/12/rv-update-by-rayren98-clare-and-nader.html
Al-Barti: The political agreement included passing the oil and gas law, 16 DEC
Al-Barti: The political agreement included passing the oil and gas law
During the current session on Saturday, Vian Sabri, the head of the Kurdistan Democratic Party parliamentary bloc, expressed her support for the oil and gas law legislation.
Sabri mentioned in an interview that political parties are discussing the oil and gas law and moving towards legislating it within the Parliament.
She said, “The committees concerned are still working on resolving the law and sending it to the House of Representatives. It’s worth noting that the oil and gas law is one of the most important provisions of the state administration coalition agreement.”
According to her, the Sudanese government will pass the oil and gas law in the next phase based on a political agreement.
The Parliamentary Oil and Energy Committee has confirmed that the government and political parties are working to resolve the oil and gas law. They are overcoming obstacles and prioritizing the public interest to move towards legislating the law within Parliament.
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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...