"BANK STORIES " BY MARKZ & FRANK26, 20 DEC

  MarkZ   [via PDK]  

  Bank Story: From a member "I went into my local Chase bank to withdraw some cash and the teller asked me if I would wait one moment. I asked her if everything was all right with my account and she said yes.

 Moments later the bank manager approached me and introduced herself. She took me to her office and asked me if I still had the Vietnamese Dong that I had purchased. I told her yes…. She smiled and shook my hand and said she looks forward to doing business with me very soon.“  MarkZ:  I’m sure the teller had a notice flash on her screen telling her this customer purchased foreign currency.

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-markz-20-dec.html

Frank26  

 [Franklin Tennessee Bank Story]   

BANK STORY PERSON:  I'm a pastor south of Nashville...yesterday I thought I'm gonna do my due diligence and reach out to some of the banks in my area...The Franklin/Brentwood area south of Nashville is the richest county in the United States...The first bank was a Pinnacle Bank...the oldest bank in Nashville...I talked to the branch manager and she knew nothing...

She knew zero about it...I walked over to the Wells Fargo...I said I'm curious if you guys verify and exchange foreign currency her eyes lit up.   She said, which currency have you got?  I said the Iraqi dinar.  She said, sir we do not and the reason we do not is because there have been several times Wells Fargo has got burned by bad currency... 

 I thanked her for her time and I thought ok two strikes let's try Chase which is 50 yards away.  I walk into Chase in Franklin, Tennessee, asked for the branch manager...I said sir do you do anything with foreign currency?  He said yes we do.  He said which currency have you got.  I said the Iraqi dinar.  He said absolutely yes.  He was very excited about it.  We were standing right there in the middle of the lobby and he didn't try to hold back his facial expression, 

language or anything.  He said, yes, we would love to do business with you. 

FRANK:  Did he say anything else like yeah, we know or we're in preparation, we're getting ready? 

 Bank Story Man:  I said, how are you aware of that.  He said, we've been waiting for this to transpire...

 I said, depending on the amount dinar our group brings in to you, can you work with us on the transaction fee or even eliminate it?  He said sorry sir we are not...The way Chase has got it established...they have it baked in.  That was his exact words, baked in transaction fee into the rate...He can't change it.   I said so no matter what outlet...location or the amount of dinar?  He said that's right, it will not change. 

 FRANK:  What was that fee did he say? 

 BANK STORY MAN:  He said around 4%. 

 FRANK:  Wow, I've always said a fair rate is anything like 1%, 2% or 3%.  I guess they decided to go one more percent.  That's a lot of money. 

 BANK STORY MAN:  He said I also I want you to be aware of something. He said when you come in to do your exchange, he said realize we can only do $5,000 increments at a time. 

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Iraqi Dinar✅Iraq’s Ban US Dollar-Iraqi Dinar Latest Exchange Rate-Iraqi ...

Iraqi Government Paves Way for Local Governance Reform, 20 DEC

 Iraqi Government Paves Way for Local Governance Reform, 20 DEC

The Prime Minister of Iraq, Nadhir Al-Arbaoui, chaired a pivotal government meeting that centered on the initial analysis of legislative projects related to municipal and provincial laws. This significant assembly aims to construct a robust legal structure at the local government level, thereby enhancing the administrative framework of municipalities and provinces.

Transforming Local Governance

In a series of legislative reforms, the government is actively working towards improving local governance. The tweet by Prime Minister Nadhir Al-Arbaoui amplifies the importance of this meeting in shaping the legal structure at the municipal and provincial levels. This development indicates a forthcoming change in the administrative framework, with the government taking proactive steps to augment the legislative system.

(Read Also: Foreign Ministers of Turkey and Iraq Discuss Accelerating ‘Development Road’ Project )

Stepping Towards Administrative Reformation

The focus on municipal and provincial laws signifies a movement towards administrative reformation. The agenda of these legislative projects is to provide a more structured and efficient governance model at the local level. The significance of these reforms lies in their potential to facilitate better public service delivery, increase transparency, and promote accountability.

(Read Also: Turkey and Iraq Foster Cooperation with Development Road Project)

The Impact on Municipalities and Provinces

The proposed legislative changes aim to significantly influence the administrative framework of municipalities and provinces. By enhancing the legal structure, the government intends to create a more efficient and effective governance system that can better respond to the needs of its citizens. These changes are expected to have a profound impact on the way local governments operate, ultimately leading to improved public services and a more accountable administration.

https://bnnbreaking.com/politics/iraqi-government-paves-way-for-local-governance-reform/

"RV UPDATE" BY PIMPY, 20 DEC

 Pimpy 

 Article: "IMF expresses optimism about non-oil financial growth in Iraq"  This is a major must for Iraq.  They need... non-oil financial growth...They can't get to this fast enough.  They can't get this to grow quick enough.  The fact they rely so much on oil is going to hurt them instead of benefit them...If oil prices fall, they're back to square one and they'll start devaluing the Iraqi dinar if they can't find alternative to generate revenue for the state.

 I get it there are people out there telling you it's going to happen overnight because they have an electric payment system.   No, no they're not going to change your exchange rate just because of the electronic payment system.   The electronic payment system will help influence it once it's up and fully implemented but it has nothing to do with being reinstated.  It'll keep increasing in increments just like I said...

Question: "Is Iraq part of any currency basket?"  

No...They have not been invited to be part of any currency basket.  Iraq is part of the currency basket that makes up the Arab accounting dinar but that's local, regional...There are no other currency baskets, I mean zero, that Iraq is part of at all.  Nothing in trade.  Nothing in business.  Nothing internationally.  That don't have stable currency.

Iraqi dinar 🔥 Iraqi Economy Set On Skyrocket 🔥Iraqi Dinar Revaluation News

Iraqi PM calls on candidates who won in the election to cooperate with his government, 20 DEC

 Iraqi PM calls on candidates who won in the election to cooperate with his government

Shafaq News/ Iraqi Prime Minister Mohammed Shia al-Sudani congratulated the parties and candidates who won the local elections on Tuesday evening, calling on them to cooperate with his government through the provincial councils.

In a tweet on the "X" (formerly Twitter) site, al-Sudani said, "I congratulate the national political forces and candidates who participated in the elections of the provincial councils, and especially those who won and gained the trust of the voter."

He added, "This trust and responsibility - which I hope will quickly turn into a tangible services by forming a local governments that interact with our plans for development, reconstruction, and providing services, and exercise their legal and constitutional role- will find from us all the aid and support it needs in a bid to meet the aspirations of all Iraqis."

Al-Sudani's remarks came after the Independent High Electoral Commission announced the preliminary results of the provincial council elections that took place on Monday in all governorates of Iraq except the Kurdistan Region.

https://shafaq.com/en/Iraq-News/Iraqi-PM-calls-on-candidates-who-won-in-the-election-to-cooperate-with-his-government

2024 will be the year known as The Restructuring of the US Debt. by GOLDILOCKS, 20 DEC

 2024 will be the year known as The Restructuring of the US Debt.

Investment funds continue to play a significant role in US debt restructurings. They are sophisticated investors who are able to adapt quickly to changing market conditions to find new ways to deploy capital and maximise their investments.

In the most prominent of these recent trends, investment funds have found increasingly creative ways to achieve short-term gains through new investments in distressed companies while at the same time positioning themselves to obtain longer-term pay-offs. In achieving these goals, investment funds adapt existing tactics and strategies to new situations and new aspects of US restructuring practice.

The new developments discussed offer excellent examples of the creativity and flexibility that can mark investment fund activity in US debt restructurings and demonstrate how borrowers and other institutional lenders are adapting their restructuring strategies in response to the participation of investment funds in restructuring transactions. Global Restructuring Review Link