Iraqi President Rashid Engages Italian Minister Crosetto to Boost Iraq-Italy Security, Environmental Ties
During a significant meeting in Baghdad, Iraqi President Latif Rashid and Italian Defense Minister Guido Crosetto, flanked by Italian Ambassador Maurizio Greganti, deliberated on fortifying the Iraq-Italy alliance. This gathering underscored a mutual interest in advancing security cooperation and leveraging Italian technological prowess, particularly in water management and environmental protection.
Strengthening Bilateral Relations
The discussions between Iraqi and Italian officials were rooted in a shared vision of deepening friendship ties and enhancing collaborative efforts. President Rashid emphasized Iraq's journey from conflict to a state of stability and security, outlining the nation's aspirations to harness Italian expertise in addressing critical environmental and water-related challenges. The conversation also touched upon the potential establishment of a trade and economy council, aiming to facilitate broader cooperation between the two nations.
Focus on Security and Environmental Cooperation
Minister Crosetto reaffirmed Italy's commitment to supporting Iraq, highlighting the importance of security and intelligence collaboration. The talks extended to environmental concerns, with a particular focus on the water sector, and explored avenues for industrial cooperation. Both sides expressed a keen interest in developing frameworks that would not only bolster their bilateral relationship but also contribute to regional stability and prosperity.
Implications for Iraq-Italy Partnership
This meeting marks a pivotal moment in Iraq-Italy relations, setting the stage for enhanced bilateral cooperation across various sectors. By focusing on security, environmental, and industrial collaboration, Iraq and Italy are laying the groundwork for a partnership that promises to yield significant benefits for both countries. The potential formation of a trade and economy council further underscores the commitment of both nations to explore new horizons of cooperation, fostering a closer relationship in the years to come.
In explaining this first article I want to read the headlines. It says and I quote – “Does deleting the currency’s zeros affect its value? an economist explains”. So why is this such WOW! news today? I have to point out two things to explain. First, I called my CBI contact on my usual Saturday call to Iraq and I was told to expect the Project to delete the Zeros to occur very soon. WOW! WOW! WOW! Then, on Sunday out pops this article, then another and on Monday yet another all dealing with the Project to Delete the Zeros- coincidental? WOW! WOW! WOW! I don’t think so.
So, I have to sit back and think. I have to ask if these articles are confirmation that the CBI is about to conduct the Project to Delete the Zeros. Why would the CBI, economists and Parliamentary members all be discussing it so much if it was not center on their minds for some reason. I like it when I am told something from my contact in Iraq and then I see it playing out real soon. This time VERY soon. WOW!
Remember also we know, because the GOI and the CBI told us that they intend to work together on this project and solve the monetary problem in Iraq.
Next, I have to ask – why now? Why is this economist even talking about this project if it was not near and they are planning it in the CBI right now? It is now on the radar scope for the CBI for the very near future?
Let’s go read the rest of the article:
I want everyone to know that all the information in this article today is yet another confirmation that Mnt Goat is not lying to you or just making up intel. So, what does it say?
Remember how many times did I tell my readers that to conduct the switch out of the dinar will not effect the value. Also remember I kept defining the difference between RATE and VALUE. I told you the value is in the dinar already but not reflected yet in the rate. There is no need to increase the value if the TRUE value is being suppressed by the 3 zero rate. Get it? So today Economic expert, Durgham Muhammad, said to the citizens and I quote – “that deleting the currency’s zeros does not conflict with its value” Okay, so “I told you so” and we all know the rate is being artificially suppressed. All I can say now is ”I told you so”, ”I told you so” and ”I told you so”,. No lies, No rumors, No Opinions, Just the Facts.
Example: If one 1 IQD = 0.000763 USD (current CBI official rate or 1320 dinars = 1 US dollar)
Then a 25,000 IQD notes is valued at $19 USD. Right?
0.000763 x 25,000 = $19
Now, if they conduct the Project to Delete the Zeros and initially first go close to 1:1 with the US Dollar, in-country, as the CBI told us they wanted to do, thus the issue with solving first the parallel market rates, then the newer lower denomination of the 25 dinar note (in our example) would have a value of $25 or somewhere around it. Yes, around 1:1. How close they get to 1:1 depends on how they can control the stability of the parallel black market. But I am told the CBI needs to get over a dollar so the citizens will use the dinar instead of the dollar since it is worth more. Also remember that when they do conduct these monetary moves, the reinstatement is just around the corner…. 😊 No this is all still in-country ONLY!
I think that the old value of $19 is very close to $25, don’t you think?. Close enough even to say that deleting the zeros will not conflict with its value as said in the article since as I have been saying the value of the dinar does not change, it always has been there. They just suppress it through the larger three zero notes. But yes, there is a possibility that there may be some inflation and so they told us they needed to monitor for it for a period of time for inflation. Have I not been also telling you this too is part of the 2011 Dr Shabibi plan?
Once the 3 zeros are dropped, (not lopped) the only thing that will change by the Project to Delete the Zeros, is the realization of the TRUE value through its currency. So instead of .000763 it would read .76 cents. .76 x 25 = $19. Yes, still $19, get it? But we know the CBI told us they will be doing at least one more “program” rate change to get it closer to 1.00 than .76. So, if they did it, the rate might look like this 1.00 x 25 = $25 or maybe 1.25 x 25 = $31.25 (just for my examples).
In the article, Durgham Muhammad then goes on to explain what needs to be taken before resorting to this step, meaning the step of switching out the 3 zero notes for the newer lower denominations. He says and I quote again – “but this step needs educational campaigns to precede it,” Oh… but many of the intel gurus told you this was already completed. Really? Seems these idiot intel gurus have no clue what Durgham Muhammad is talking about. Why would Durgham Muhammad tell us it still needs to be completed if it already was completed as many of the idiot intel gurus told you? I will tell you why – IT IS BECAUSE THESE IDIOT INTEL GURUS LIE TO YOU!
But we all should know that it is required AND this educational campaign is not yet completed. My CBI contact even tells me it is still something they have been working on and have even developed news articles for press releases on this topic. You too should now know the CBI plan, as I explained it to you many times and in detail in one of recent Newsletters. Did you read it? All I can say now is ”I told you so”. No lies, No rumors, No Opinions, Just the Facts. Trust in the plan and watch for the execution of the plan.
Then in the past I also told you that when the CBI does conduct the project to delete the zeros they will need a short period of time to monitor for inflation. Did I not say this? I said this period could be short or longer depending on the results of the project. So, what does Durgham Muhammad tell us today and I quote – “and a transitional period for trading the currency with its zeros and the new currency to know that the two currencies are equal in value.” Again “I told you so”.
He stressed, “Printing new denominations must be proportional to the market’s need to cover daily trading, provided that there is no significant increase in the monetary supply in the market so that inflation does not occur.” All I can say now is ”I told you so”. No lies, No rumors, No Opinions, Just the Facts
So, you see folks I am not lying to you. I know what the hell I am talking about. I have the CBI plan of 2011 right here in front of me. Let’s not rush the plan and just follow the news as it plays out. The reinstatement is going to happen only not yet. They are heading in that direction, and it won’t be long.
I am following the 2011 Dr Shabibi and this article seems like economist Durgham Muhammad has also read it and knows it very well. Get it? You too now have the plan as I have gone over it many times with you. So why do these intel gurus keep telling you it’s going to RV this or that weekend? How can it since this part of the plan must first be fulfilled.
Really folks, I have no clue as to why these idiot gurus find a need to lie to you. This newest information from this marketer/scammer TNT Tony Renfrow has got all of his gang on pins and needles once again expecting the RV by the end of February. Really? Didn’t he tell his listeners definitely by the end of June, that turned into July, then August, then September, then by the end of October, then by the end of December…well you get my point. It’s an RV roller coaster you would rather not be on…trust me! But why even do this to his listeners when the FACTS say otherwise. Don’t’ they even care about the facts or are they just WOKE and live in this imaginary world of twisted science and reality? Is this what the world has gotten to – a bunch of brain-dead idiots?
The assets of the Central Bank of Iraq amount to 207 trillion dinars.. What does this mean?, 29 FEB
The assets of the Central Bank of Iraq rose to 207 trillion Iraqi dinars, according to a new economic statistic seen by Al-Sumaria News. According to statistics published by the head of the Future Iraq Foundation for Economic Research and Consultation, Manar Al-Obaidi, the assets of the Central Bank of Iraq are as follows: * Securities and bonds, 71 trillion Iraqi dinars * Debts to the Ministry of Finance, 45 trillion Iraqi dinars. * Balances with external banks 26 trillion Iraqi dinars * Balances with external central banks 24 trillion Iraqi dinars * Loans granted within the Small and Medium Enterprises Initiative 12.6 trillion dinars * Existing gold reserves 12 trillion dinars * Accounts with international organizations 12 trillion Iraqi dinars * Foreign exchange reserve There are 443 billion dinars in the bank’s coffers * Balances in local banks are 153 billion dinars * Total assets are 207 trillion Iraqi dinars.
Bank assets: Also called “bank assets,” it means everything the bank owns that can be converted into liquidity in time of need. This includes various physical assets such as banks, loans, reserves, the bank’s deposits with third parties (with other banks), and investment securities; As well as the cash in the bank’s vault.
In conjunction with this statistic, the Central Bank announced, today, Wednesday, that the volume of deposits in the banking sector had increased to 131 trillion dinars and the volume of foreign reserves to 148 trillion dinars.
Deputy Governor of the Central Bank, Ammar Khalaf, said in his speech during the opening of the eighth annual exhibition and conference for finance and banking services in Iraq, that “last year witnessed clear growth with most monetary changes, including an increase in the volume of deposits in the banking sector from 129 trillion dinars in 2022 to 131 trillion dinars in 2022.” 2023, as well as an increase in private sector deposits in the banking system from 54 trillion dinars to 55 and a half trillion dinars, in addition to an increase in the volume of credit in the banking sector from 60 trillion to 69 trillion dinars in 2023, in addition to an increase in credit to the private sector from 35 to 40 trillion dinars. In addition to the increase in the volume of foreign reserves from 140 to 148 trillion dinars,
he continued, “The efforts led by the Central Bank of Iraq in cooperation with the government, especially with regard to expanding the use of electronic payment tools, as there was a clear rise and growth in electronic payment tools in Iraq, as the number of POS points of sale increased from 10,000 devices in the year 2022 to more than 20,000 devices in the year 2023, and the number of ATMs increased from 2,223 devices in the year 2022 to about 3,000 devices in the year 2023, as for the number of electronic cards of various types. Its types reached about 16 million cards in 2022 and 18 million cards in 2023.”
He noted that “last year witnessed great cooperation between the government and the Central Bank, especially with regard to enhancing confidence in the national currency through various decisions issued by the Council of Ministers and the Central Bank.” He pointed out, “The Central Bank seeks to strengthen banks by increasing the capital of all banks from 250 to 400 billion dinars.”
In my last newsletter dated Thursday February 22nd I presented a recent article by the CBI 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? Here is the quote from the article again- “The Central Bank of Iraq is heading to cancel the electronic platform and the currency auction soon”. Then this news also in the same article – I want to quote yet another statement from this recent article – “Banks will be responsible for financing foreign trade directly through the dollars they own” (and not from the CBI reserve) Then in the same article it also says and I quote – “Banks will be fully responsible for auditing invoices and transfers, which is the practice globally.”s).
We must now connect the dots of this past news (above) with what I am going to tell you today. Yes, you guessed it. Iraq is finally breaking the news all about the Project to Delete the Zeros. This is fantastic news but just news for now. The actual execution part is coming and I was told by my weekly call to my CBI contact in Iraq on Saturday, that it will be VERY SOON!
Let’s get into today’s special news…. I am VERY excited and so should you be!
Just take a look at the headlines of the news articles from Iraq this period. They are all mostly about three main topics: the Project to Delete the Zeros, electronic banking and the American economic war against Iraq. But there are in particular three articles about the Project to Delete the Zeros alone that really stand out and these are the focus of our news today.
We also should all realize by now that the electronic banking effort is so closely tied to the timing of the Project to Delete the Zeros. It is all interconnected. You can read all three of these complete articles in the Newsletter today, if you wish. I will now pick them apart and explain in detail why each one is so important for us to understand for the RV.
Today, Wednesday, the Central Bank announced the start of establishing the National Company for Electronic Payment Systems, while confirming the increase in the volume of deposits in the banking sector to 131 trillion dinars and the volume of foreign reserves to 148 trillion dinars.
Deputy Governor of the Central Bank, Ammar Khalaf, said in his speech during the opening of the eighth annual exhibition and conference for finance and banking services in Iraq, that “Iraq experienced many challenges last year and the Central Bank faced them with high responsibility, as it was able, through various monetary policy tools and sound decisions, to achieve its set goals.” In its law, in addition to achieving the general level of prices through a decrease in the inflation rate, as since the beginning of 2023 the inflation rate has reached 7.5 percent and decreased at the end of the year 2023 to 4 percent.”
He pointed out, “activating monetary policy tools and raising the price from 4 percent to 7.5 percent, in addition to issuing various financial tools, including bank transfers and Islamic certificates of deposit instruments, which were considered an investment opportunity for Islamic and commercial banks operating in Iraq, in addition to using monetary policy tools.” Various, including raising the mandatory reserve ratio from 15 percent to 18 percent,” indicating that “these tools are intended to manage excess liquidity in the Iraqi economy.”
He pointed out that “last year witnessed clear growth in most monetary changes, including an increase in the volume of deposits in the banking sector from 129 trillion in 2022 to 131 trillion in 2023, as well as an increase in private sector deposits in the banking system from 54 trillion dinars to 55 and a half trillion dinars, as well as An increase in the volume of credit in the banking sector from 60 trillion to 69 trillion in 2023, in addition to an increase in credit to the private sector from 35 to 40 trillion dinars, in addition to an increase in the volume of foreign reserves from 140 to 148 trillion dinars.
He continued, “The efforts led by the Central Bank of Iraq in cooperation with the government, especially with regard to expanding the use of electronic payment tools, as there was a clear rise and growth in electronic payment tools in Iraq, as the number of POS points of sale increased from 10 thousand devices in the year 2022.” To more than 20 thousand devices in the year 2023, the number of ATM machines also increased from 2,223 devices in the year 2022 to about 3 thousand devices in the year 2023, and the number of electronic cards of various types reached about 16 million cards in the year 2022 and 18 million cards in the year 2023. Noting that “the past year witnessed great cooperation between the government and the Central Bank, especially with regard to enhancing confidence in the national currency through various decisions issued by the Council of Ministers and the Central Bank.”
He explained, “There is less use of foreign currency in daily transactions, in contrast to increased reliance on the national currency for local transactions, in addition to the existence of cooperation in the issue of restructuring government banks and developing private banking institutions to build sound and sound banking institutions.”
He stressed, “The Central Bank of Iraq is focusing on the importance of strengthening compliance with compliance standards for all financial institutions in accordance with local and international standards,” pointing out that “external transfer operations witnessed great discipline during the past year and a high response from all banks to facilitate trade financing operations and various external transfers.” Especially after the issuance of external transfer controls at the beginning of last year.”
He added, “The Central Bank of Iraq was able to strengthen its banking relations with a large number of Arab and foreign financial and banking institutions to open wider areas and ensure a high flow of external transfers, especially the use of different channels for external transfers in different currencies other than the dollar or next to the US dollar.”
He pointed out, “The Central Bank sought to strengthen the banks by increasing the capital of all banks from 250 to 400 billion dinars,” noting that “One of the most important projects launched by the Central Bank last year, and work on which is still underway in the current year, is the establishment of Riyada Bank, which He will be specialized in providing financing for small and medium enterprises, as well as preparing a national strategy for bank lending, due to the importance of the depth and development of the Iraqi financial economy and the importance of the role of financing in enhancing production and investment opportunities in Iraq, in addition to enhancing the role of non-banking financial institutions that support financial and banking stability in Iraq, by strengthening The role of the Deposit Guarantee Company, as well as the Loan Guarantee Company, in addition to starting to establish the National Company for Electronic Payment Systems, which will hopefully have a major role in regulating electronic payment operations in Iraq.”