Shafaq News/ Prime Minister Muhammad Shiaa Al-Sudani and the Regional CEO of JPMorgan Bank discussed on Wednesday coordinating technical efforts with the Central Bank of Iraq in establishing ideas related to trading digital currencies for central banks.
The Prime Minister’s media office said, in a statement received by Shafaq News Agency, that the latter “met today, on the sidelines of the Davos Economic Forum in Switzerland, the regional CEO of JPMorgan for the Middle East and North Africa, Khaled Hoballah.”
He pointed out that “the meeting witnessed a discussion of the prospects for cooperation in the financial fields, and the opening of accounts for Iraqi banks, as well as the possibility of the bank participating in the government’s efforts to adopt electronic payment applications in the Iraqi markets.”
He stated, “Discussions took place in coordinating technical efforts between the Central Bank of Iraq and JP Morgan Bank in establishing ideas related to trading digital currencies for central banks.”
The Prime Minister indicated, according to the statement, “Iraq’s aspiration towards the Bank’s cooperation with the Iraq Fund for Development, and the financing it targets to finance private sector projects in Iraq, stressing that Iraq is proceeding with financial and banking reform steps, in a way that helps in developing this vital sector.”
For his part, Khaled Hoballah expressed JP Morgan’s readiness to “strengthen cooperation with Iraq as a government, with the Central Bank of Iraq, and the Iraqi banking sector,” stressing the bank’s intention, as a first stage, to “open accounts for three private Iraqi banks.”
Everything you need to know to prepare for the Jan 30th Protocol 20 vote, bringing smart contracts to Stellar Mainnet 👇 1/ We're officially two weeks out from Jan 30, 2024. That means we're two weeks out from the Protocol 20 vote, which brings Soroban to Stellar Mainnet. 2/ Protocol 20 will mark the most transformative upgrade to the Stellar network to date. And to preserve the network's performance, security, and stability during this time, the ecosystem has agreed to a phased rollout for Soroban transactions. 3/ Following a positive validator vote, Phase 0 begins, which is designed to allow network operators to observe the network after the upgrade, and not intended for end users to interact with applications. During Phase 0, developers are encouraged to continue utilizing Testnet. 4/ In Phase 1, builders gain the ability to deploy contracts on Mainnet for testing. Like Phase 0, this environment is not meant for application users. As Phase 1 progresses, smart contract usability will expand based on network health and user feedback. 5/ Phase 2 marks the start of a user-ready Mainnet where anyone can deploy and interact with smart contracts. In this phase, the network is ready for more extensive smart contract utilization, so it's the practical beginning of smart contracts on the Stellar network. 6/ We plan to communicate early and often during each phase as changes are made and the network builds towards full capacity. In the meantime, please ensure all of your relevant software is upgraded in preparation for Protocol 20 👇 Twitter Link Stellar Link
In 2 weeks, we will be ready for the upgrade vote that is expected to allow us to move forward with the integration of Quantum Technologies around the world.
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good morning everyone… good morning Markz and mods
Member: Mark and Mod squad, what is the good word for today?
MZ: There is a lot of “Economic Gold “ coming out of Iraq right now.
Member: Saw the Sudani interview in Davos and didn't really hear anything that pertained to the RI
Member: Nader seems happy ... very very happy
MZ: Nader has dropped a new website because it appears things are very close. Its at www.naderdirect.com Expect him to drop a number of videos today.
MZ: Nader talked about “Baghdad economics affair expert calls for a basket of currencies” Like the Euro, the Chinese Yuan or the UAE dirham….in valuing the Iraqi dinar in a way that competes with the valuation of the US dollar. ;
MZ: They are calling to no longer have a fixed rate. But, attaching it to a basket so its value can compete with the USD. You know they have been working on de-dollarization. One US dollar buys 1300 dinar right now. For it to compete with the US dollar……the rate needs to be a whole lot closer.
Member: So according to article it will soon be at least 1 to 1? I could live with that.
MZ: I know things have been moving slowly, slowly, slowly….I think we are about to see the “suddenly” part of this thing.
MZ: MilitiaMan also did another solid one….an overview of where we are at. Be sure to go listen to them all and support them on their channels.
Member: Iraq’s rate when they were still in the WTO before the devaluation in 2003 was about $3.22 I believe.
MZ: We have articles that say their ascension to the WTO was approved back in Feb of 2023. At this point I believe they are just dotting the i’s and crossing the t’s ….
MZ: My contracting sources in Iraq say the valuation has been determined …and we are just waiting on the release. I think that is very accurate. I think when we look at all the articles coming out right now discussing undoing the government “fixed rate” …and how the black market rates will disappear once the rate is pegged to a basket like they want.
MZ: “Parliamentary finance : The council of ministers will send the 2024 budget to Parliament next week”
MZ: I can tell you there is a tremendous amount of chatter in the bond side right now with the possibility of movement as early as today. But, most of my contacts believe movement will occur early next week. There is a lot on the bond side that I am not sharing yet….because they don’t have real spendable money yet.
MZ: We should start seeing activity on the bond side between now and the first of the week…..if accurate.
Member: I thought if the bonds get paid we get paid at the same time?.. (again nobody knows the process for certain)
Member: When the bonds get paid we should at least get notifications to start making appointments.
MZ: “Iraqi Prime Minister meets 57 businesses in meetings in Davos” He has been sitting down with some of the top leaders in the world in petro, chemicals, building, gas ect…….he has also been meeting with Jake Sullivan for a timeline for getting rid of US forces in Iraq.
MZ: The US is now working on a strategic framework agreement for getting its troops out of Iraq.
MZ: “Iraqi customs official jailed …must repay 60 million” It was actually 38 billion in dinar….This official had stolen over 60 million dollars….that could have been spent on building, education , food ect……His jail sentence is over 10 years or until he pays them back.
MZ: From the Russian Embassy in S. Africa: “20 countries have already joined the financial messaging system of the Bank of Russia.” This is their alternative to the SWIFT. This new system already includes 557 banks in 20 countries and is growing. This is going around the western hegemony and is allowing transactions and money to move all over the world. This is big.
Member: I think BRICS is going to save the world and get us off fiat for good….
Member: I wanna call my bank and say "Shoooobeee Dooobie Doooo -- Do You Have A DelaRueeeee?
Member: We were CHOSEN to be here at this time...Have faith...Our day is coming...
Member: Everyone have an awesome day! Stay warm and safe.
Mod: EVERYONE HAVE A FANTASTICALLY BLESSED DAY
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THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.
Shafaq News / The American “Atlantic Council” Institute considered that Iraqi Prime Minister Muhammad Shiaa Al-Sudani is sending “conflicting” messages about the withdrawal or stay of American forces in Iraq, warning that relations between Baghdad and Washington are rapidly approaching the dynamics of the era of the administration of former President Donald Trump when he decided Assassination of the Deputy Head of the Popular Mobilization Forces (Abu Mahdi Al-Muhandis) and the Commander of the Quds Force, General Qassem Soleimani.
To begin with, the American report, translated by Shafaq News Agency, considered that after a year of stability and mutual tolerance between Baghdad and Washington, relations between the two countries have entered a turn for the worse during the past two months.
The report recalled that when US President Joe Biden took office in 2021, the general perception was that US policy towards Iraq would be determined through diplomacy, in contrast to the strict approach of the Trump administration, which included the threat of imposing sanctions, confiscating funds, and using force to settle scores on Iraqi soil from Without the approval of Baghdad.
Sudanese and Al-Kazemi
After the report pointed out that former Prime Minister Mustafa Al-Kadhimi was a strong supporter of working closely with all international actors, especially the United States, and that he transformed Iraq into a regional player and a stabilizing factor, it explained that Iraq was successfully able to mediate complex disputes, such as the conflict between… Iran and Saudi Arabia.
He also indicated that, as a result, Al-Kadhimi enjoyed a strong relationship with the Biden administration, but Al-Kadhimi’s successor, i.e. the Sudanese, did not enjoy a similar degree of trust during his period as head of the government since its beginning in October 2022.
The report explained that despite his ability to secure a one-year truce between the United States and the Iraqi political and armed factions that reject the American military presence in Iraq, and receiving declared support from the Biden administration, Al-Sudani has not traveled to Washington yet, while the security truce ended after the outbreak of war. The war between Israel and Hamas on October 7, 2023, ruling out that Al-Sudani will be received in the White House soon.
American assassinations
The report said, “It would not be an exaggeration to say that Iraqi-American relations are accelerating as they approach the dynamics recorded under the Trump administration in 2020, when an American drone strike killed Al-Muhandis and Soleimani, which prompted the House of Representatives to issue a resolution calling for the withdrawal of American forces.” .
Now, the report says that an American raid on January 4 killed inside Baghdad, the leader of the Popular Mobilization Forces, Mushtaq Jawad Al-Saeedi, coinciding with the anniversary of the assassination of Al-Muhandis and Soleimani.
The report stated that the Iraqi presidency, the Prime Minister’s Office, and the Ministry of Foreign Affairs issued three statements condemning the new raid, describing it as “a violation of sovereignty and a violation of the bilateral agreement regarding the rules of engagement and conditions for the presence of American forces in Iraq,” and the spokesman for the Armed Forces, Major General Yahya Rasoul, described it as “blatant aggression.” …and an act resembling terrorist activities.”
He also referred to the statement of the Pentagon spokesman when he said, “Those in the country at the invitation of the Iraqi government are stationed there for one reason, which is to support the mission of defeating ISIS. And that when those forces are threatened, just as we do elsewhere in the world, we will reserve the inherent right to Self-defense to protect our forces.”
Calming messages
However, the report indicated that the phrase “the inherent right to self-defense” was what created a bilateral crisis every time it was applied in Iraq, adding that the Iraqi government’s reaction was expressed by Al-Sudani when he described the new American raid as a “crime,” pledging to end The presence of international coalition forces through dialogue in the joint bilateral committee.
However, Al-Sudani, despite the many strong statements made in the past few days, sent a soothing message to the United States when he told Reuters that the upcoming talks to negotiate an end to the presence of forces in Iraq do not mean the end of the partnership between Iraq and the international coalition, but rather the beginning. For bilateral relations between Iraq, the United States, and other countries, including security relations.
The report continued that the next few months will reveal whether the Iraqi government intends to adhere to the position announced by Al-Sudani and whether he will submit a formal request to withdraw American forces, or whether his statement, as skeptics claim, was made for the purpose of local consumption.
The report concluded by saying that it is difficult to explain the failure of American officials, who stress that the presence of American forces in Iraq is based on an invitation from the Iraqi government, to see the irony in the collective condemnations of their actions issued by all parties of the Iraqi leadership.
The report continued, saying that at the same time, it is also difficult to explain the reason for the failure of the Iraqi government, which confirms the protection of its “guests” from the American forces from attacks launched by the factions. The government describes them as belonging to the Iraqi security forces, which are supposed to operate according to the powers granted by them. They have a supreme leader.
The American report concluded by saying that the time has come for the governments of Iraq and the United States to review their commitments and fulfill them, instead of mixing partnership with aggression.