Bearded PatriotUSA
Telegram post
1/5/23
Forwarded from Texas Snake:
It is 2300 hours on the 4th of January and while I have no definite date or time I am encouraged based upon preparations dealing with exchange center preparations I have become privileged to learn about that our window drawers nearer and nearer. GOD Bless you folks for hangin’ in there.
Shafaq News/ Member of the Parliamentary Finance Committee, Mudar Al-Karawi, described on Thursday that the bank interest imposed by banks on their loans constitutes a heavy financial burden on borrowers, stressing that the Central Bank of Iraq and the banks will be hosted to reconsider them.
Al-Karawi told Shafaq News Agency, “The Parliamentary Finance Committee will hold a meeting at the beginning of the legislative term with the Central Bank of Iraq and the Rafidain and Al-Rashid banks to study the benefits of bank loans and the possibility of reconsidering the financial benefits and reducing the interest rate in a natural way that is compatible with the Iraqi social situation, especially for retirees.”
He added, “Loans granted to employees, retirees, and people with limited income must be reconsidered in terms of interest rates according to a mechanism adopted by the Central Bank.”
Al-Karawi considered that “the interest charged on loans constitutes a financial burden on thousands of families, especially those with limited income and retirees.”
Since government banks began launching advances and financial loans, borrowers began complaining about the high bank interest rate, and although the official interest rate on loans is 4% of the loan value, the problem is that the bank calculates this percentage multiplied by the number of years to repay the loan to reach the interest. This amounts to 50% of the loan value.
The burden of this interest varies from one loan to another, but it reaches its peak in housing loans, as some of them exceed 50% of the loan value, depending on the size of the amount and the years of repayment.
shafaq.com
Pimpy
12 to 1 exchange rate. Nobody was speaking about it. I showed an article, their article, not my article, their article saying they were considering the 12 to 1 exchange rate but they would not consider it until...2026. I didn't make it up. I'm just pointing this out in an article...I believe they are going to go up in increments between now and 2026. That's just my opinion.
Community Comment: "The Iraqi people that live in Iraq can't exchange, only people abroad." Here's what would happen. We would change our dinars for the new rate but the people in Iraq would have a much much stronger purchasing power.
Question: "Can you give us more details to some of us who don't quite understand the deletion of the zeros...?"
Here's where people get pissy because there's an article everybody keeps talking about, the study of the deletion of 3-zeros. Pay attention to the wording. It doesn't say anything at all about the exchange rate. It says clear as day, the deletion of the zeros are to remove the 3-zeros off the currency, the bank note. Nothing about the rate. The bank note...It's not complicated...The worst thing that can happen for us is those suckers turn around and delete the zeros and then change the exchange rate...I'm not saying they're going to do that, but it is an option...Most likely they're going to change the exchange rate in increments...
Finance: Issuing the third bond under the name of reconstruction bonds in the amount of 2 trillion dinars
oday, Friday, the Ministry of Finance announced the launch of the third issuance of bonds worth two trillion dinars
A finance statement, a copy of which was received by NRT Arabic, stated that “the third bonds were issued under the name of reconstruction bonds for an amount of two trillion dinars, based on Budget Law No. 13 for the years (2023-2024-2025) for the period from December 31, 2023, until December 30, 2024.” “.
He explained, “The categories offered for these bonds were divided into a bond of 500 thousand Iraqi dinars with an annual interest of 6% for a period of two years, and a bond of one million dinars with an annual interest of 8% for a period of four years.”
The Finance Ministry called on “those wishing to purchase from the public to submit purchase requests through licensed banks, and we call on investors and citizens to take advantage of the offer and take the initiative to benefit from this investment opportunity, as the size of the issue will be very limited, knowing that these bonds are tradable in the Iraq Stock Exchange.”
nrttv.com
Bruce
[via WiserNow] ...Iraq has already been doing exchanges at their new rate in the country of Iraq. They were told that on the first...of January, the USD or Fiat dollar is dead. It is no longer usable – it’s gone - they want them to completely transition to the new lower denominations of the Iraqi dinar and those are in the ATMs. They're in banks and in shops in Iraq. They're in the businesses and shops.
I got a call that said the...US Treasury was going to send out an email to all banks and redemption centers ...when we talk to people like the southeastern regional manager of Wells Fargo and certain other people they say everything is done...everything's done. We don't know why it hasn't happened. And when you get that from your top banking sources, that you really haven't heard what that email was - it tends to make us believe - Yes, we're super close, but we still don't know exactly when it's gonna go...