"The Federal Reserve is unlikely to extend its Bank Term Funding Program, the central bank’s vice chair for supervision, Michael Barr, inferred Tuesday while speaking at an event for Women in Housing and Finance. The Fed launched that emergency lending facility last year amid the collapses of Signature and Silicon Valley Bank. It is set to expire March 11."
We talked about this last week. The safety net for the old banking system of emergency funding will be over on March the 11th, 2024. We are expected between now and then to make adjustments inside our new Digital Asset Based Trading System and new Capital requirements to be up and running well.
These changes could cause fluctuations in the market we have not seen in a long time, but these shifts will be adjusted through new Basel 3 final guidance on our new tokenized assets interfacing together with banking systems and financial institutions all over the world.
This is not an overnight process and could take well into this year for many assets to shift into new prices based on new banking protocols.
Look for price pressures to cause new valuations going forward. It is a process expected to happen over time leading to a culminating event of weighing the market and its new values on a fixed rate of gold.
Shafaq News / The President of the Kurdistan Region of Iraq, Nechirvan Barzani, praised on Sunday the decision of the Iraqi Council of Ministers to finance the salaries of the employees of the Kurdistan Region.
Barzani said in an interview to reporters, including the correspondent of Shafaq News Agency, that “Our visit to Baghdad was to the basis for participating in the Iraqi Martyr’s Day ceremony, and then, since yesterday, we had a series of meetings with all Iraqi political parties, and these meetings must be taken in a normal way, since we live on this geography, it is normal to visit Baghdad, discuss the existing problems and try to solve them.”
He added, “In these meetings, we discussed two main topics, the first is the issue of the sustenance of the citizens of the Kurdistan region, and we believe that the regional government has fulfilled all its obligations towards Baghdad, and the issue of salaries must be dealt with the Kurdistan region like the rest of the Iraqi provinces and this issue should not turn into a political or pressure card on the Kurdistan region.”
The President of the Kurdistan Region continued; “The Prime Minister (Iraqi) had a very good understanding of this issue and I am sure that he will make every effort to solve this problem, and as you know, a decision was issued by the Council of Ministers today and we thank His Excellency the Prime Minister, as this issue was not originally included in the agenda of the meeting, but he stressed its addition to the agenda and we believe that this decision is a good beginning to solve the problems.”
Barzani explained that “the other issue is related to the security issue, as we believe that the drone attacks on the Kurdistan region will also undermine security in the region and Iraq because they are linked to each other and should not be separated, and this was a fundamental issue that we talked about with all political parties, certainly it needs more discussions, but we hope to resolve it.”
The president of the region praised “the steadfastness of the salary beneficiaries in the Kurdistan region, who were steadfast and endured a lot, and we hope that this issue will not become media and will be talked about in the media this year and it will be a natural issue like the rest of the provinces of Iraq.”
A government source said on Sunday, 615 billion dinars were sent from the federal government in Baghdad to secure the salaries of employees of the Kurdistan Region.
The source told Shafaq News that “the Iraqi Council of Ministers decided, during its current session, to send 615 billion dinars to secure the salaries of the Kurdistan Region.”
This comes after talks held by the President of the Kurdistan Region, Nechirvan Barzani, with officials in Baghdad regarding the budget and salaries of the people of Kurdistan, as the federal government decided today to send part of the region’s budget.
The President of the Kurdistan Region arrived yesterday, Saturday, in the capital, Baghdad, to participate in the official memorial service on the occasion of the “Iraqi Martyr” Day, the anniversary of the assassination of Ayatollah Mohammed Baqer Al-Hakim.
During the memorial ceremony, Nechirvan Barzani called on the forces and political parties to play their role in working to solve the problem of employees’ salaries and the region’s share of the federal financial budget, stressing that people in the region are living in a bad living situation due to the failure to address these differences and outstanding issues between Erbil and Baghdad.
Question: "Once the black [market] rate gets close to the official rate of 1320 will the CBI wait for a while to move to 1000 to be sure it's stable or will it quickly make the next move to 1000?"
Our desire is to see another exchange rate movement which would be somewhere between let's say 1,200 or 1,000 to 1. We believe that's what will happen next. But I don't think we'll get to see it because of the speed things are happening right now...
You are involved in this dinar investment. The next step is the most crucial. It's the most dangerous for you...I'm concerned for you...I wish you well. I've already prepared you. I've already told you what to do...
Question: " Is the US government placing a hold on the currency revaluation to keep people from becoming wealthy?"
No, our government has nothing to do with the monetary reform of the Central Bank of Iraq...We did everything possible to make them modern and they are. But can we tell them, Okay go ahead do it now?
The lower denoms to me is the most top secret subject of the monetary reform of Iraq. The lower denoms and the new exchange rate that they have selected through the RV process. That to me is the most critical piece of information to release and that should be released in the last seconds of the monetary reform.
Question: "Do you feel the dong will go with the dinar?"
I believe the dong is still a little bit behind the race of the monetary reform. I believe Vietnam has a lot of issues with China. I believe Vietnam ...dong has great potential...But unfortunately it is being shackled ...retarded ...abused by the banking policies that China continues to use...
Shafaq News/ On Sunday, the Iraqi Council of Ministers held the first anti-corruption conference to review the efforts made during an entire year. While describing those fighting the corruption file as “heroic,” the conference came out with seven recommendations.
The Prime Minister’s Media Office stated that the conference was held in the presence of Prime Minister Muhammad Shiaa Al-Sudani, who reviewed the efforts made in this field during an entire year, in the presence of a number of ministers, representatives, advisors, and officials of departments and bodies concerned with combating corruption.
In his speech, Al-Sudani praised the efforts of all those confronting the scourge of corruption, describing their stance as heroic, stemming from a legitimate, moral and legal position in preserving public money, and what it means to confront cases of financial and administrative corruption.
He explained that “corruption has become a determining factor for all development plans, and that the greatest loss is that corruption has caused the people to lose complete confidence in state institutions and the political system, and that citizens have begun to feel the presence of the state through anti-corruption efforts and the achievements of service agencies on the ground.”
He stressed that “it is necessary to stop at the anti-corruption station, and that the government has placed this file at the top of its priorities, and has begun work in several areas, including addressing countries in which corruption funds are present, forming the Supreme Anti-Corruption Commission and the files it has completed, as well as forming a specialized team to undertake “We checked the information and complaints, and as a result, many manifestations of corruption were diagnosed and referred to the judiciary in accordance with the law.”
Al-Sudani pointed out the formation of investigative committees with officials at all levels, upon the request of the authorities concerned with combating corruption, and this matter was one of the reasons obstructing the resolution of cases before the courts.
The conference concluded with a number of recommendations that stated:
1- Expediting the resolution and completion of notifications, complaints, and criminal cases within the legally specified periods, especially cases related to public opinion, large amounts of corruption, and senior state employees; In order to impose legal penalties on those convicted and enhance confidence in accountability and accountability procedures to ensure the achievement of general deterrence.
2- Periodic evaluation of the performance of those with higher job ranks, to ensure the effectiveness and performance of government institutions; To prevent corruption and protect public funds.
3- Strengthening the human resources and technical capabilities of internal control bodies in government institutions, to increase the effectiveness and efficiency of their performance, and establishing periodic and transparent evaluation mechanisms for their level and identifying areas that need development.
4- Strengthening the independence of regulatory agencies, and providing financial and technical support to increase the level of capabilities and skills of their employees, in the field of using technology and modern methods in monitoring and combating corruption.
5- Developing and updating legislation to keep pace with developments and developments, and filling gaps to provide effective and comprehensive legal frameworks in combating and preventing corruption.
6- Striving to sign memorandums of understanding and cooperation agreements with countries and international organizations, and establishing permanent coordination mechanisms with them to exchange information in the face of common challenges in the field of combating and reducing corruption, especially with regard to recovering the proceeds of corruption, recovering accused, convicted and wanted persons and prosecuting them.
7- Legislate a law to create a supervisory authority, based on the provisions of Article 108 of the Constitution; To enhance internal control in government institutions, organize previous and subsequent preventive oversight procedures, and raise levels of responsibility, integrity and transparency. Protection of public funds.
[via PDK] There is a lot of good news coming out of Iraq… Lots of good group chatter...There is all kinds of exciting rumors.
“Sudani: We are proceeding in the wheel of reconstruction and construction despite the challenges facing us” Sudani says they are meeting and fulfilling their promises to the Iraqi people. Part of the wheel of reconstruction is the Monetary reform and the White Papers and making the dinar stronger and more valuable.
The news continues to be great…Things look great and I’m not hearing anything negative...We just have to wait and see what is real …We are getting so many things thrown at us…we don’t know yet what is accurate... Most groups are looking for over the weekend or first of next week…let’s see what happens
”Here is a great article written last August..”The Kuwaiti Dinar: A closer look at the world’s strongest currency” this talks about the history of the Kuwait dinar and why it is so valued…They have many of the same things going for it that Iraq now has. What does that tell us? The Iraqi dinar should be worth the same or higher…imo
[via PDK] There is a lot of good news coming out of Iraq… Lots of good group chatter...There is all kinds of exciting rumors.
[via PDK] “Sudani: We are proceeding in the wheel of reconstruction and construction despite the challenges facing us” Sudani says they are meeting and fulfilling their promises to the Iraqi people. Part of the wheel of reconstruction is the Monetary reform and the White Papers and making the dinar stronger and more valuable.
The news continues to be great…Things look great and I’m not hearing anything negative...We just have to wait and see what is real …We are getting so many things thrown at us…we don’t know yet what is accurate... Most groups are looking for over the weekend or first of next week…let’s see what happens.
”Here is a great article written last August..”The Kuwaiti Dinar: A closer look at the world’s strongest currency” this talks about the history of the Kuwait dinar and why it is so valued…They have many of the same things going for it that Iraq now has. What does that tell us? The Iraqi dinar should be worth the same or higher…imo