I really hope you understand that cryptocurrency is soon to be the foundation for the infrastructure of our new digital asset-based trading system.
As Bitcoin grows, the rest of the crypto space grows. This is the first RV. The second one that many are looking for in paper currency will become possible because of the first one taking place right now.
Our new global economy is currently being re-indexed. Everything will be tokenized. Yes, even the foreign currency you hold. It is a process that will give new value to all of our currencies around the world.
Question: "The difference between Kuwaiti revaluation and the Iraqi dinar - what's the difference?"
It's a completely different model...Kuwaiti got invaded. Saddam Hussain stole the printing press, the Kuwaiti version of the Treasury. Stole everything...Iraqi dinar was completely different. It was planned.
They knew the old Iraqi currency was going to collapse. We injected their economy with dollars and euros. That's when they took the old dinars off the streets and introduced the new dinar you and I have. It's a completely different model. There's no way to compare.
I think the dinar is going to revalue. I think it's great. It's a great opportunity. A lot of it has to do with its foreign currency reserves which is in the US dollar. It [Iraq's] is one of the biggest in the world.
"What is Iraq waiting for at this point [to RV]? "
No body knows...When [Senator] McCain was around those were the heavy hitters. Those were the guys I would listen to. This was nothing 'official' but these guys knew what was going on, 'you want to be in the dinar.' I have some very good friends who didn't buy it and they talked to McCain and he said you better buy this currency.
According to them, it should have happened by now. I still hang out with the same group and to this day nobody knows why Iraq has not pulled the trigger yet. What's strange is back in the day Iraq didn't talk about it that much,now they talk about it all the time. Whatever the CBI is looking at, it's starting to look like they need to be there.
Question: "Why do the [Iraqi] citizens want to keep using the dinar when the value is so low?"
Not everybody has access to the US dollar for one thing. #2 It's artificially low. A lot of Iraqi's know this. They know what's going on.
There's nothing they can do about it. That's one of the things, if you watch the parliamentary elections of Iraq one of the number one campaign promises all these guys make is we're going to add value to the dinar. They know it's artificially low. [They look around and think] we're selling more energy, the price per barrel is more, we have more customers and yet the dinar is [worthless] and we're all running around in poverty.
Question: "When it does revalue, when do we get out? How long do we wait?"
That depends on your own needs. Are you trying to get a house? Are you trying to pay off a loan? What is it because once you hit that number get out. Or if it doesn't go up to that number - Let's say you're trying to make...$250,000 and you realize the investment is only going to get you about $180,000, then get out! Diversify. Get into something else. Don't just stick around.
The only way you can answer those questions is you have to put a piece of paper down and realistically what is it that you want. You have to be realistic about it.
You can't say the first thing is I'm going to start off with a $50 million dollar mansion. Don't be stupid...Let's be a little more practical. A home over your head, debt free, for you and your family...then you can go for the big stuff. Your investments are based on that...what it is you want.
Shafaq News/ The Iraq Future Foundation (IFF) for Economic Studies reported that Iraq's internal debt surpassed 70 trillion dinar mark, reaching its highest point since 2003.
The IFF report indicates that Iraq's overall internal debt "increased by 1.5% in 2023 compared to the 2022 figure. The most notable surge occurred in 2020 when the debt surged from 38 trillion dinars in 2019 to 64 trillion dinars, representing a 67% increase. Despite a slight decrease in 2022, the debt resumed its upward trajectory in 2023, surpassing the 70 trillion dinar mark."
Approximately 37% of Iraq's internal debt arises from loans granted by commercial and government banks, with the remaining 62% owed by government institutions to the Central Bank of Iraq. The Foundation reported.
"Iraq's public debt represents 19% of its gross domestic product (GDP). When factoring in external debt totaling 40 trillion dinars, the overall debt amounts to approximately 110 trillion dinars or 29% of the GDP."
Despite these figures, the report indicates that Iraq's debt level is relatively manageable compared to global standards.
However, a critical concern highlighted in the report is that most of these debts are operational expenses rather than investments. Consequently, there are no means to recover these debts through revenue-generating projects. This situation results in additional costs for the state budget in the form of interest payments imposed by internal and external creditors.
The report recommends two options for the Iraqi government: either extinguish the non-recoverable internal debts or devise a clear plan to transform them into productive debts by paying off previous debts and leveraging new debt for investment and development projects.
"Such projects could increase domestic production across various sectors and generate revenue to cover debts and interest payments."
Frank26: "BOTH THE MONETARY REFORM EDUCATION & ITS SECURITY WILL CONTINUE POST RI FOR THE STABILITY OF THE MONETARY REFORM.".........F26
Integrity announces the recovery of $1.5 million, one billion dinars, and gold coins
3/9/2024
Today, Saturday, the head of the Federal Integrity Commission, Haider Hanoun, announced the recovery of more than 1.5 million dollars and about one billion Iraqi dinars and gold coins, while revealing a draft agreement to coordinate work with the Integrity Commission in the Kurdistan region.
Hanoun said, in a statement followed by Al-Iqtisad News, that “the authority recovered some amounts in cash, some of them were prevented from being wasted, and others are in the process of being recovered,” pointing out that “some amounts are in Iraqi currency, and others are in dollars.”
He added, "During our annual conference tomorrow, Sunday, we will display a recovered amount of more than one and a half million US dollars, as well as amounts in Iraqi currency of up to one billion dinars, and other amounts, in addition to gold coins."
He pointed out that "the Integrity Commission coordinates work with the Kurdistan Region Integrity Commission, and there is a draft agreement to coordinate joint work, and Integrity as a federal body supervises all governorates," stressing that "the financial disclosure of officials includes all Iraqi officials and employees."
Hanoun called on the Integrity Commission in the Kurdistan Region to “assist with arrest warrants and financial disclosures for officials, so that the Federal Authority can audit them like all officials,” stressing that “everyone is subject to the law.” LINK
[via PDK] Question: So is this the month? MarkZ: I very much think this could be our month, I do not have a magical ball…but going back to the Simply Linn bank story and remind you that bank manager said he does not know the timing but know it’s soon. And we may know before they do.
[Reference MarkZ's Simpy Linn Bank story from 3-9-2024 below]
Bank Story via Simply Linn: In a nutshell - a guy goes to a chase bank and they know nothing…. He goes to another and sits down with a personal banker who asked him what assets he had… and the guy says he has foreign currency…dinar and dong…they bring in a wealth manager… Whose eyes light up and the wealth manager shared some serious details about exchanging and the QFS...they suggested to him to exchange out of his area for anonymity and security and to avoid local tellers talking about his exchange.
I thought this was brilliant and I plan on doing that as well. Not exchanging in my town. Anonymity is a good thing to have. He also mentioned our funds go into special accounts...When the man asked if it was the QFS - the lady smiled and nodded and said it was account that no one else can see it…even tellers will not be able to see it. Very safe. ...they also said they do now know “when” but know it’s coming soon and they have been preparing for it and equipped to exchange it right in front of your eyes…and there will be armed guards while you do the exchange. This was a fantastic bank story.
