MZ: This one is 2 days old but: “The Sudanese received an official letter from America regarding the scheduling of the end of the tasks for the international coalition” We believe this is the final step for Iraq to become fully sovereign and increase the rate of the dinar. They didn’t give a date but imply its sooner rather than later.
MZ: “ Prime Minister Al Sudani received on Thursday (today) US Senator Christopher Coons and discussed with him a strategic framework agreement between the 2 countries and the end of the task of the international coalition according to a timetable. (Which they have not given us)
MZ: “BRICS states to ditch USD in 95% of trade” A year ago this was a pipe dream-right? 95% of their trade this year was without the US dollar….This is a massive change on how money moves around the world.
So, just today another article came out from the CBI telling us about yet more steps in the RV/Reinstatement process that are about to be implemented. The news could not get any better, aside from having the reinstatement itself. WOW! WOW! WOW!
I want to fully explain all of it in detail to you and why I feel so excited today and what we should look forward to soon. In this recent article the CBI is telling us once again the plan to end the currency auctions which also means the U.S. Treasury electronic platform, installed last January 2023. Do you remember? So even though we have been hearing bad news about the inability of the CBI to control the parallel rate, something has changed for the better. Here is the quote from the article –
“The Central Bank of Iraq is heading to cancel the electronic platform and the currency auction soon”.
We all know that soon means many things to the Iraqis. Speedy Gonzales does not work in Iraq… lol.. lol.. lol.. But also remember that the CBI told us in another past article that March is targeted for this effort to occur. March is just a week away.
Banks and the Iraqi Central Bank: We face challenges in electronic collection
Shafaq News/ The Iraqi Private Banks Association, under the auspices of the Central Bank of Iraq, held a workshop on Thursday to enhance electronic government collection.
Director of the Operations and Settlements Department at the Central Bank, Zaid Hamid, told Shafaq News Agency, “Government collection is very important, and the decisions of the Council of Ministers and the direct follow-up of the Prime Minister will contribute to society’s shift from relying on cash to electronic dealing.”
He pointed out that “the Central Bank provided the infrastructure and systems necessary for the success of the electronic payment process,” explaining that “the percentage began to rise gradually through the spread of electronic culture in society.”
For his part, Deputy Executive Director of the Iraqi Private Banks Association, Ahmed Al-Hashemi, told Shafaq News Agency, “The workshop briefed all government institutions on how to activate the electronic collection project, the challenges that departments face in the transformation process, and finding quick solutions regarding this matter.”
He pointed out, “Initiating the issue of collection in a number of ministries and state departments, including the Interior, Oil, Passports, and Gas Stations, and this program can be implemented in all state institutions.”
Al-Hashemi continued, “The state departments are committed to the directives of Prime Minister Muhammad Shiaa Al-Sudani to activate electronic payment tools for government collection,” adding, “We have some challenges that we face in the process of transitioning to electronic payment.”
The Deputy Executive Director of the Iraqi Private Banks Association stressed, “Ensuring the implementation of the electronic collection program in a correct manner to preserve the state’s funds,” noting that “this project preserves funds.”
The U.S. dollar is going down in value this week, which means your currency [Iraqi dinar] is going to go up in value. The only way for that to happen is with a new exchange rate and the lower notes to match it. IMO you're going to see the dollar go up before it is finally removed and irradiated one last time...
If you take one of the new [lower] Iraqi dinar notes and you hold it up to the light you'll be able to see the safety features. The American dollar has about a dozen markers, the [new lower] Iraqi dinar has over 20 markers. The state of the art technology of security for toilet paper value? No, that alone is an important aspect for you to understand...
When this blessing occurs, where do you go? Do you go to a bank? Do you go to an American Bank?
Should you go to Iraq and use an Iraqi bank? Can I use the kiosk at an airport?
Can I use a credit union? You want to use a large bank. You want to use a bank that would help you with your wealth and management.
Don't go to a mom and pop place...We have a bank of interest - [Chase Bank]. Many of you thought it was going to be Wells Fargo. It's highly possible Wells Fargo will still play a part...We should consider Chase. We should consider a big state bank...
The high quality sample sheets [of new lower note dinar samples] are for the employees but eventually when the CBI is ready then they will invite the Iraqi citizens to come to the banks through their apps on their phones...flyers...billboards...television...commercials to come in. 'We would like to introduce you to the new lower notes that we would like to be giving you.' They'll project these new 1, 5, 10, 20, 50, 100 on the Channel One Iraqi Financial News.
The process for you to exchange your currency...when you decide it's time...you're going to go to Chase.
You can go to other banks, nothing wrong with that...but I would suggest you go to Chase...What is the Chief Executive Officer of Chase doing in Iraq right now? Opening 10 Chase banks...I don't believe in coincidence...I encourage you to consider Chase because they're going to be able to connect you with IMO one of the most powerful ways to diversify your money. Yeah, JP Morgan.
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