Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani chaired a meeting that included representatives of the Ernst & Young auditing and financial consulting company, in the presence of the Minister of Finance, the Governor of the Central Bank of Iraq, and the Prime Minister’s advisors concerned with the economic aspect.
A government statement said, “The meeting discussed the initial draft of the company’s plan for the purpose of organizing and structuring the work of Rafidain Bank, within the government’s approach to reform the banking and financial sector, where a number of observations were recorded on the draft plan with the aim of amending it and proceeding with its implementation. ”
The Prime Minister stressed “the need for the plan to be applicable and not a copy of previous experiences, and to achieve its desired goal.”
He expressed “the government’s readiness to provide all the necessary facilities to achieve transformation and restructuring, which is an essential part of the goal of the government program in the field of financial and banking reform.”
Al-Sudani stressed “the speed of completion, in order to make the required plan successful and achieve tangible progress within the framework of economic reform.”
We are just a few hours away from spot Bitcoin ETF approval. A couple of things for us to expect are as follows:
Historically, these events Trigger selling pressure on the CME Futures Market. Yes, selling pressure is usually the initial reaction to a new asset being added to the markets. We will see.
And, Standard Chartered Bank expects Market inflows to significantly increase for Bitcoin over the next two years.
These two triggers will increase the demand for Digital Asset Based Trading adoption. We have already heard of more ETFs being on their way to inclusion inside the market such as Ethereum and Ripple.
These trigger events will transition the market into a digital economy whereby new demands and new price actions on tokenized assets across every sector of the market will be revalued.
These new tokenized assets regulated by new Basel 3 requirements on January 16th, 2024 will be standardized through protocol 20 (January 30th) as the green light is given for Quantum Technologies to form new networks on our Global markets.
The representative of the Kurdistan Democratic Party, Majid Shankali, expressed his surprise at the demand to remove American forces from Iraq. Shankali said in an interview followed by Mawazine News: “The Prime Minister of the Regional Government, Masrour Barzani, has the right to request that American forces remain in Iraq as they are part of the process of fighting terrorism. ” He added, “The agreements to keep American forces confirmed are in place, and it is in the interest of the Kurds and Iraq for the international coalition to remain, especially as the security threat continues.” Regarding the crisis with Kurdistan, Shankali confirmed that “the money paid by Baghdad was three months late and that the region’s problem is the cessation of exporting its oil,” stressing that “the Iraqi pipeline is not able to receive more oil than Kirkuk.”
“The Bank Term Funding Program (BTFP), the Fed’s infamous tool to nip the March 2023 bank-panic and liquidity crisis in the bud, will expire on March 11, at its original one-year time limit, Michael Barr, Fed Vice Chair for Supervision, said at a panel appearance in Washington, D.C., today.”
Not long ago, we learned that interest rates would take a drastic turn downward between March and May. This would be normal since interest rates normally fall during a recession. It is a tool that is used to stimulate growth.
Gold has a tendency to rise when interest rates go down. Historically, gold has been known to do very well during a recession as well. Do you see the setup patterns taking place?
We have new localized currencies around the world that are beginning to move into the marketplace, and they are being strengthened because of their inflationary demand at the present time.
The BTFP will be pulled on March the 11th, 2024. At this time, look for Market and currency interventions to begin. This is when our January the 16th, 2024 Basel 3 requirements to infuse the markets and banking system with gold to support their unification are most likely to create an incredible demand for gold.
These new tokenized assets across all sectors of the market including the Forex sector will then have access to gold’s liquidity raising the value of our new digital economy through a new World Reserve Asset capable of deflating our inflated economy with real world values.