"RV UPDATE" BY GOLDILOCKS, 8 FEB

 Goldilocks and Seeds of Wisdom

“Chinese authorities told state-owned banks to step up intervention in the currency market this week, in a push to prevent a surge in yuan volatility, according to people familiar with the matter.”

In 2023 until now, The People’s Bank of China has been manipulating their currency exchange rate more than usual. As the dollar has become more unstable, their State Banks have stepped up to the plate to buy some of their assets from the markets themselves to stabilize the Yuan.

Several tools have been utilized to control their currency fluctuations as of late, and the Exchange Stabilization Fund has been called in to assess the situation and give them supportive direction. “China academic calls for US $1.4 trillion stock stabilisation fund.”

As the global wars continue to expand, the volatility of all the Global Markets are beginning to create havoc in the foreign currency exchange markets. Currency interventions like these are common during wartime efforts.

This is why old play books no longer apply when distortions in the market begin to affect economic stability and job creation opportunities.

The BRICS Nations, of which China belongs, sets them apart through a backing of gold to support their local currencies. These efforts adds to the net worth of a country’s revenue holdings.

The use of gold to stabilize currency exchange rates and demand bring in greater value in exchange processes between countries.

As Global wars continue to expand, you can expect a rise in volatility inside the Markets and Forex. Old contracts between nations may no longer hold accurate trade values going forward. Look for gold and other Exchange Stabilization Fund interventions to come into play.

© Goldilocks

CFR
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TheEdgeMalaysia

Exciting Times, Unveiling Iraq's New Lower Denominations and Final Weeks...

It will be different… Parliamentary Finance talks about the developments in the current year’s budget, 8 FEB

It will be different… Parliamentary Finance talks about the developments in the current year’s budget

Information/Baghdad..
Today, Wednesday, the Parliamentary Finance Committee revealed the latest developments in the federal general budget for the current year.
Member of Parliamentary Finance, Jamal Cougar, told Al-Maalouma, “The committee is waiting for the government to send the draft 2024 budget to make the necessary amendments  to it.”
Koger added, “This year’s budget will be subject to many changes, and will be different in terms of resources, oil price estimates, and disbursements.”
He pointed out, “Parliament granted the government the authority to continue disbursing last year’s budget until it is completed and to begin the current year’s budget without stopping.”
The process of the Council of Ministers’ approval of a “tripartite” budget extending until the year 2025 was a positive point that was welcomed by a number of economic affairs specialists, who praised the paragraphs supporting increasing rates of sustainable development, especially in the health and educational aspects.

almaalomah.me

"RV UPDATE" BY MILITIAMAN, 8 FEB

 MILITIAMAN

  Article quote:  "Iraq is better off now ever than it's in its financial history."  

Even at a program rate, even at where we've been and what we've seen the central bank has probably done the job that they said they were going to do... Bottom line is Iraq has reserves...gold..more natural resources found, probably proven or probably...That is huge.

 The Iraqi Central Bank is not going to come out and say, 'by the way you guys, tomorrow we're going to come out and drop the three zeros and guess what it's going to be at X [rate].'  They're not going to do that.  Nor is the...Finance Minister going to say, 'Hey by the way, I'm going to order the Central Bank of Iraq to what they got to to to change the value of the currency.'  Nor is the US Treasury, US Federal Reserve, World Bank, IMF or Bank of International Settlements...

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-militiaman-7-feb.html

  The Iraqi Central Bank is not going to come out and say, 'by the way you guys, tomorrow we're going to come out and drop the three zeros and guess what it's going to be at X [rate].'  They're not going to do that.  Nor is the...Finance Minister going to say, 'Hey by the way, I'm going to order the Central Bank of Iraq to what they got to to to change the value of the currency. '  Nor is the US Treasury, US Federal Reserve, World Bank, IMF or Bank of International Settlements...

 Article:  "Postponing Electronic Application for Housing Funds" 

 They told us they were going to build hundreds of thousands of homes.  They were going to have loans ready for them but they decided to postpone it. 

 Quote "...until new mechanisms for getting loans is approved...' 

 What's that about? 

 You were going to open up for loans for hundreds of thousands of housing units but you posted it for a 'mechanism'.  What's their definition of mechanism?   They don't say but we have to think - Writing up a mortgage at 1310 exchange rate and that changing the next day creates a problem...They need to know how much.

Iraq is doing a phenomenal job...Thinking that this is never going to get done?  And we have issues?  

Well of course.  The Middle East has always got issues.  But are they getting better?  Yeah...Anybody and everybody that owns the Iraqi dinar...should have an idea where the Development Road Project is headed and where where their outlets are in the Mediterranean and in Europe.  It'll make you wake up.  

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-militiaman-4-feb_01234546568.html

Iraqi Dinar🎉Finally CBI Prepared For New With New Exchange Rate-Iraqi Di...

!!!!!! Observer: Ending the mission of the United Nations office in Iraq takes Iraq out of Chapter Seven !!!!!!, 8 FEB

 !!!!!! Observer: Ending the mission of the United Nations office in Iraq takes Iraq out of Chapter Seven !!!!!!

Information / Baghdad..
On Wednesday, political observer Sabah Al-Ugaili called on Prime Minister Muhammad Shia Al-Sudani to end the work of the United Nations representation in Iraq, indicating that “if this matter were achieved, it would remove Iraq from Chapter Seven.”

Al-Ugaili told Al-Maalouma, “The time is right for Sudanese to ask the Secretary-General of the United Nations to end the work of its representation in Iraq, especially after Plasschaert announced the end of its mission in Iraq.”

He added, “Plasschaert’s request to end its mission and the Chinese representative’s recognition of the existence of a state of political and economic stability in Iraq gives Al-Sudani the opportunity to ask the Secretary-General of the United Nations to end the work of the United Nations office in Iraq, or at least reduce it, and then Iraq will exit Chapter Seven.”

The representative of the Secretary-General of the United Nations, Jeanine Plasschaert, had asked the Secretary-General of the United Nations that it was her mission in Iraq during her periodic briefing at the UN Security Council yesterday, Tuesday.

It is noteworthy that Iraq has been subject since 1990 to Chapter Seven of the United Nations Charter, which was imposed on it after Saddam’s regime invaded the State of Kuwait in August of the same year. This clause allows the use of force against Iraq as it constitutes a threat to international security, in addition to freezing large amounts of its financial assets in Iraq. International banks to pay compensation to those affected by the invasion.

almaalomah.me

"RV UPDATE" BY SANDY INGRAM, 8 FEB

 Sandy Ingram 

 The CBI must carefully manage the timing of revaluation...[Iraq] has over $100 billion in foreign currency reserves.  The IMF has continually said Iraq needs more income streams to offset the oil industry.  The Development Road Project and several other manufacturing projects are all a part of increasing Iraq's income streams. 

These are some of the major factors holding up the Iraqi dinar revalue...There's a lot at stake...First...Iraq relies on its oil export for revenue...If oil prices were to decrease suddenly, it could cause a  drain on Iraq's foreign exchange reserves as they try to stabilize their currency's value...Second...Iraq's political stability and security issues... Uncertainties make it challenging for investors to trust...making them hesitant to buy the dinar...

Thirdly...A sudden and significant increase in their currency's value could adversely affect their exports and trade balances.  It could also lead to inflation...  Balancing the exports and trade revenue is one of the key factors in deciding and implementing a currency revaluation.

Furthermore...Neighboring countries may retaliate by imposing tariffs or restrictions in response to Iraq's higher value in currency...A sudden revaluation potentially could destabilize other currencies...

Iraq could have a domino effect on the economies and currency values of countries like the U.S., China and Russia because these countries hold significant amounts of dinar in their reserves...The central bank of Iraq is under tremendous pressure to fit in when it comes to the revaluation of its currency. 

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-sandy-ingram-6-feb.html