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Iraq and Egypt discuss ways to strengthen relations between the two countries in the oil and energy sector, 20 FEB

  Iraq and Egypt discuss ways to strengthen relations between the two countries in the oil and energy sector

Baghdad / Nina / Deputy Prime Minister for Energy Affairs and Minister of Oil Hayyan Abdul Ghani discussed with the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt Tariq Al-Mulla ways to strengthen relations between the two brotherly countries in the oil and energy sector.

According to a statement by the Ministry of Oil, Abdel Ghani met the Egyptian minister during an official visit to participate in the work of the Egypt International Energy Conference and Exhibition.

The Egyptian minister stressed the importance of the existing cooperation between the two brotherly countries and Egypt's keenness to strengthen this cooperation across various fields, especially oil, energy and petrochemical industries, pointing to the existing partnership and cooperation with the Egyptian General Petroleum Corporation and Enppi and Petrojet, stressing the importance of expanding the areas of cooperation to serve the common interests of the two countries.

For his part, Deputy Prime Minister for Energy Affairs and Minister of Oil affirmed Iraq's support for bilateral cooperation with Egypt and its aspiration to expand the volume of participation of Egyptian companies in the investment projects announced by the ministry, expressing his interest in participating in the Egypt International Energy Conference and Exhibition as an important economic event.

Deputy Prime Minister for Energy Affairs and Minister of Oil Hayyan Abdel Ghani arrived in Cairo to participate in the work of the Egypt International Energy Conference and Exhibition "EGYPES2024".

"JUST BE PATIENT" BY MNT GOAT, 20 FEB

ABOUT THIS NEWSLETTER:

1 John 3:17

If anyone has material possessions and sees a brother or sister in need but has no pity on them, how can the love of God be in that person?

The saga about the Iraqi dinar RV continues. It is what you don’t know that can cause you some stress and anxiety. Even I sometimes want to rush the RV process and I have to step back and relax. I have to ask myself if the CBI is following the 2011 Dr Shabibi and IMF plan. As long as they are following it, I am very happy and so should you. As we all know Iraq is NOT working on our timetable as their newly formed government is sometimes very slow to act (remember Speedy Gonzales).

So, just today another article came out from the CBI telling us about yet more steps in the RV/Reinstatement process are about to be implemented. The news could not get any better, aside from having the reinstatement itself. 

I want to fully explain it in detail to you and why I feel excited today and what we should look forward to soon.

I wanted to continue with the list below and add each month if anything changes. So, in February as part of the Banking Reforms we find we have added a couple new items. These new developments along with the others listed, push us even closer to the RV/Reinstatement. So today we chalk up yet more major events are about to occur.  

• We know they are completely out of Chapter VII sanctions since December 2022, and so why not treat them as such?

• We know they want the Iraq funds (nearly USD 115+ billion) released from the NY banks and put in their custody to do what they want with it. They are tired of being bullied by the U.S. with their own money.

• We know they have plans for yet more Sovereign Funds to invest their reserves.

• We know they are making agreements now for “currency swaps” for trade with Iran, China, Turkey, Kuwait, Emirates, and many EU countries as Iraq will no longer be using any US dollars in Iraq as of January 1st 2024.

• We know that the IMF is now working on the final stages of pulling together agreements to build a new basket of six (6) currencies to re-peg the IQD.

• More pressure from Iraqi economics advisors to the government to use a “basket” of currencies for the new dinar peg. This is the IMF plan of 2011 all along.

• We know since January they have undertaken a massive “de-dollarization” program and told it should have taken 6 years but they decided to do it in 1 year (2023). Why such a hurry?

• We know the value of the IQD right now does exceed even pre-1991 era but still at 1/6 of a penny for a rate? The value won’t go up, its already there. Get it? Why is it being suppressed? Iraq needs to see a rate reflecting the TRUE VALUE. What is holding it back?

• We know Iraq now pumps 2/3 more oil than in pre-1991 era.

• Iraq also has announced 132+ tons of GOLD reserves.

• We know they are pushing this year alone, more than any other year since 2005, for the passing of Oil and Gas law. Why?

• We know for a FACT that it is the U.S. through the Treasury Dept. direction that will NOT give sign-off to allow the reinstatement. Why?

• Finally, the CBI has told us many times already that January is the most opportune time to reinstate for accounting purposes, since it begins their new FISCAL year (for accounting purposes).

• Imminent World Trade Organization full accession

• The Central Bank of Iraq is heading to cancel the electronic platform and the currency auction soon.

• Banks will be responsible for financing foreign trade directly through the dollars they own and not from the CBI reserves.

• Banks will be fully responsible for auditing invoices and transfers, which is the practice globally.

Please just be patient! The reinstatement is coming and I firmly believe from what we now already know and are about to witness is a major part of the Banking Reforms that everything else was geared up to support over the past 10 years. Iraq is about to get out of the sanctioned mindset altogether and return to common global banking practices of how they will be doing business with the rest of the world going forward.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

How will foreign trade be financed after the cancellation of the electronic platform? The Iraqi Central Bank answers,20 feb

 How will foreign trade be financed after the cancellation of the electronic platform? The Iraqi Central Bank answers

Today, Tuesday, the Central Bank of Iraq revealed the mechanism for financing foreign trade after canceling the electronic platform and currency auction that the Central Bank intends to implement soon.

The Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said in an interview followed by Al-Iqtisad News, “The Central Bank of Iraq is heading to cancel the electronic platform and the currency auction soon.”

He explained that "the banks will be responsible for financing foreign trade directly through the dollars they own, and they will be fully responsible for auditing invoices and transfers, which is the practice globally."

With this step, the Central Bank of Iraq intends to “withdraw itself” from the process of financing foreign trade and make the process limited to banks inside Iraq.

Among the American correspondent banks, which will be responsible for financing the requests of these banks among themselves after reviewing the private documents, and the Central Bank of Iraq not entering as a party in this case  link

"RV UPDATE" BY MNT GOAT, 20 FEB

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/
 

 banks are responsible for the exchange with a dollar BY MILITIAMAN

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 20 FEB

  Frank26  

 [Iraq boots-on-the-ground report]  

 FIREFLY: TV says the Baghdad dollar will see a huge drop beginning of week, however the exchange rate is stable?  We don't know what it means. 

 FRANK:  What is a Baghdad dollar?  It's the United States Dollar in Baghdad....That's the drop of the US dollar in the parallel market...Which means they'll try to get to 1 to 1...I'm not telling next we're going to have our blessing.  I'm telling that next week they're going to do what they're saying.

FIREFLY:  Sudani talked about going to Washington DC to meet and get all oil reserves and assets from oil held in U.S. Treasury.  FRANK:  Dang!  Like they don't have enough money!  Wow! 

FIREFLY:  Al Suandi is on TV news Channel One saying the best and the only way to improve the electronic payment system is the CBI should remove the three zeros, print the new currency and give us a one month period to exchange our currency.  This will show the power of the dinar over the dollar ...He also said this will get rid of citizen holding cash and any smugglers and money laundering. 

FRANK:  ...That's what they're about to introduce to you, your new exchange rate to match your lower notes...the lower notes will only work with a new exchange rate.  I can't believe they keep saying this to you constantly every day...You are within arms reach ...One month...I believe they'll give you longer than that.  Outside with us it should also be a longer time to exchange...

 FIREFLY: A guy comes on TV and he talks to us about how the end of the Untied Nations mission official has removed all sanctions from Iraq...

https://dinarevaluation.blogspot.com/2024/02/iraq-boots-on-ground-report-by-firefly_01039549117.html

 FIREFLY:  So far we are not seeing the lower notes but they talk to us about them every day.  They just talk to us about them and why we'll need them.

 FRANK:    They are talking to you about the lower notes and coins because they are about to show them to you next week or the week after.  I believe your bank friend will show you something in the sense of pictures...Take as many pictures as you can.

 FIREFLY: A representative from the CBI is talking to us in great detail about the new coins they will be giving us with the new currency notes...He said to us once again, the process to delete the zeros is in the process. 

 It made us smile.  He said this process is occurring because the lower notes will not be needed if the rate wasn't increasing.  He said if the CBI didn't come out with these lower notes the monetary reforms would be a disaster.  He said that's why we need a change in our rate... 

https://dinarevaluation.blogspot.com/2024/02/iraq-boots-on-ground-report-by-firefly_01427855001.html