"RV UPDATE" BY PIMPY, 3 JAN

 Pimpy

Here's the thing that everybody is missing.  Article:  "Government adviser announces entry into force of 2024 budget"  Quote: "...the exchange rule 12/1 does not currently exist under the Financial Management Law No. 6 of 2019, as amended until the beginning of 2026."  What is Iraq's exchange rule 12/1? 

 ...The 12/1 rule refers to the rate at which the Iraqi dinar is exchanged with the US dollar.  12 Iraqi dinars for every 1 US dollar...Over time the 12/1 rule has been revised several times...1160...in 2003...1170...in 2006...It looks to me like they're trying to say the exchange rate will change in the beginning of 2026.   

  What is that exchange rate?  12 Iraqi dinars for every $1.00.  I think I have 4 million dinars.  Divide by 12...that means I have $333,5000.  That's what I get when I change in my Iraqi dinar 12 to 1...Take the number of dinars you have, divide by 12 and that's what you will get back.  

According to this article that's not going to happen until 2026.  Could something happen to expedite that?  Of course it could.  But they're saying here 2026 is when they expect to review whether or not they change it to the 12/1 rule.  My view is this is their wall. [Note:  Use the Dinar Guru Calculator to determine how much money you could have. Link is at the top of this page] 

Iraq Dinar | Monetary Reform Successful in Iraq New Rate Came out | iraq...

Al-Sudani: We launched the year of achievements in 2024, 3 JAN

Al-Sudani: We launched the year of achievements in 2024

Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani confirmed the launch of the second semi-annual report on the government’s work during this month, and while he indicated that the government’s path chose to build confidence and fulfill promises to the people, he indicated that the shift to electronic payment must be circulated in all ministries within 6 months. He stressed the need for local governments to compete in providing services.

The Prime Minister said in his speech during the Council of Ministers session, which was followed by NRT Arabic, that “the government named 2024 the Mother of Achievements as an affirmation of our path that chose to build confidence and fulfill promises to the people,” noting that “we will launch the second semi-annual report on the government’s work during this month.” .

He added, “International institutions have confirmed that Iraq has laid sound foundations for reforming the financial sector,” noting, “International financial institutions have given the green light to invest in Iraq, and this is confirmation of the existence of financial reform and stability.”

He continued, “The shift to electronic payment must be widespread in all ministries within 6 months, and there will be no return to cash,” pointing out that new lagging projects should not be allowed to be added to government work because they involve a waste of public money and delay in service provision.

He stated, “Some want to obstruct the government with biased positions,” explaining, “We will not allow any internal or external force to obstruct the government’s work in fulfilling its duties.”

He pointed out that “no force should be allowed to try to push the state into mazes,” pointing out that “there are parties that are offended by the country’s progress and success.”

He pointed out that “the government completed the provincial council elections with all professionalism,” stressing the need for there to be competition between local governments in providing services and every achievement is in the interest of the state.

The Prime Minister called on “supervisory institutions to continue their supervisory and professional role,” stressing that there is an evaluation of the ministers’ work to determine the reality of performance and evaluate it and what has been accomplished.

https://www.nrttv.com/ar/detail3/21010

"RV UPDATE" BY GOLDILOCKS, 3 JAN

 Just a reminder, Japan did an in-country test on the QFS on Christmas Day.

India and a handful of other countries are doing an International pilot test on the QFS starting today. Pilot tests usually run at least 30 days that will take us to January 30th, 2024.

On January 30th, 2024, the rest of the world will begin rolling out their connections to the QFS and utilizing the system.

Each phase along the way will have a set of countries no longer using the US dollar in trade as the World Reserve Currency.

This does not mean that all of them will make that decision, but it will level the playing field for countries around the world that want to start utilizing their own currencies.

These new demands will increase the value of all the currencies involved inside this transition creating a Global Currency Reset through new trading volumes making their way into the Global Market.

Watch the water.

© Goldilocks
Wolfstreet Link

Iraqi Dinar✅ Understanding Iraq's Dollar Ban: A New Chapter in Financial...

Carrying guarantees… A Kurdish delegation is in Baghdad before January 9 to meet with the first government faction, 3 JAN

 Carrying guarantees… A Kurdish delegation is in Baghdad before January 9 to meet with the first government faction

Baghdad today – Sulaymaniyah

Today, Tuesday (January 2, 2024), member of the Kurdistan Democratic Party, Wafa Muhammad Karim, revealed an upcoming visit by the Kurdistan Regional Government delegation to Baghdad.

Muhammad Karim said in an interview with “Baghdad Today”, “The delegation of the Kurdistan Regional Government will visit Baghdad and meet with the Minister of Finance, Taif Sami, Prime Minister Muhammad Shiaa Al-Sudani, and representatives of the Parliamentary Finance Committee, before the date of the ninth of January of this month.”

He added, “The visit comes to discuss the issue of amending the budget, and ensuring that the Kurdistan region’s share is sent in full, and the region is fully committed to this amendment, pointing out that the delegation will also discuss the problem of the differences between the two parties, which hindered sending the Kurdistan share last year.”

Karim pointed out, “The Council of Ministers will likely send the amendment to the budget law that includes the region’s share on the ninth of this month,” adding, “According to the promises we received, Parliament will not delay approving it, especially in light of the presence of an international and international desire not to expand.” The dispute between Baghdad and Erbil.

https://baghdadtoday.news/239155-%D9%8A%D8%AD%D9%85%D9%84-%D8%B6%D9%85%D8%A7%D9%86%D8%A7%D8%AA.-%D9%88%D9%81%D8%AF-%D9%83%D8%B1%D8%AF%D9%8A-%D9%81%D9%8A-%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF-%D9%82%D8%A8%D9%84-9-%D9%83%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A-%D9%84%D9%84%D9%82%D8%A7%D8%A1-%D8%A7%D9%84%D8%B1%D8%B9%D9%8A%D9%84-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D9%8A-%D8%A7%D9%84%D8%A3%D9%88%D9%84.html

"RV UPDATE" BY GOLDILOCKS, 3 JAN

 "Oil traders around the world are gradually shifting away from using the US dollar

Recent reports say major economic powerhouses have used alternative currencies in oil trades in recent times

Most oil deals in the last year have been settled primarily in the Chinese yuan"

For these reasons, many countries are beginning to call for a market-based determination on the dollar.

A market-based determination is a careful analysis that compares prices of one asset to another.

In this case, we are looking at a comparable analysis among other countries' currencies in the use of buying and selling oil with currencies other than the dollar.

This type of price analysis will determine exchange rate changes needing to be done to coordinate reasonable values between countries.

Watch the water.

© Goldilocks
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