Sunday, May 5, 2024

'Absolutely' More Bank Failures Coming; Will This Be Worse Than 2008? | ...

"IF THIS HAPPENS IN 72 THEN WE HAVE A NEW EXCHANGE RATE FOR ME & YOU" BY FRANK26, 5 MAY

KTFA

FRANK26:"IF THIS HAPPENS IN 72 THEN WE HAVE A NEW EXCHANGE RATE FOR ME & YOU"..........F26

Parliamentary Finance for Al-Furat News: The budget schedules will reach Parliament within 72 hours

5/4/2024

Vice Chairman of the Proportional Finance Committee, Ahmed Mazhar al-Jubouri, suggested sending the 2024 budget tables to the House of Representatives within the next 72 hours.

Al-Jubouri said {to Al-Furat News} that: “The budget schedules for the year 2024 have not been sent from the government yet, and the committee is fully prepared regarding them.”

He added, “The committee will not take more than 20 days to resolve the discussion of these schedules, but so far they are the corridors of the government.”

Al-Jubouri added, "We believe that the budget schedules will be sent within the next 72 hours, according to communications with the government."

From: Raghad Dahham

LINK

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 5 MAY

Frank26

[Iraq boots-on-the-ground report]

FIREFLY: Saleh is on television and he says it's time to float the dinar and get rid of the parallel market.

FRANK: Well thank you Saleh! ...Sudani says get out there and clean this [we're not going to float] mess up...Of course we're going to float.

FIREFLY: He says we have 10x the amount to support a new rate.

FRANK: This is the man Sudani sent to you...He's telling these economists ...don't understand the agreement the CBI made with the US Treasury concerning the new exchange rate or they are being paid by you know who to put out false information.

FIREFLY: The completion of the Investment Law is on television.

FRANK: That's big! That's Big! ...This is really good news.

FIREFLY: Saleh is on the television right now...saying that the parallel market is almost at the official exchange rate and that is the rate they're seeking. He calls on a floatation of the dinar saying to us this will get the rate where it needs to be.

FRANK: Oh my goodness it doesn't get any better than that...This is a deeper explanation to you Iraqi citizens on the next steps of the monetary reform the CBI is accomplishing with you.

All of this was the result of the agreement from the CBI meeting at the US Treasury...

FIREFLY: Some guy on television talking about advantages that we as Iraqi citizens are going to have with a fixed exchange rate pegged to a stronger currency. He says Iraq now has a soft peg and...the float is not necessarily as a fixed rate...

FRANK: The monetary reform education is explaining the reason why you don't need a basket...They are also expressing you don't need a float. That's because your reserves are so powerful...But IMO the float will occur because it needs to reach the real effective exchange rate of your currency on an International level.

They are also trying to explain to you you do not need to be pegged to any currency, not even the dollar.

FIREFLY: Saleh is saying the start of implementation of the government and banking reforms has started.

FRANK: Woohoo! ...The new exchange rate is the pivotal role they are about to give them...

https://dinarevaluation.blogspot.com/2024/05/iraq-boots-on-ground-report-by-firefly_0968153815.html

PM's Advisor Saleh on TV🚩Wow! New Rate is Coming!?🤔Iraq Dinar RV Updates...

"FINANCIAL INCLUSION WEEK MONETARY REFORM EDUCATION TO THE CITIZENS" BY FRANK26, 5 MAY

KTFA

FRANK26: "FINANCIAL INCLUSION WEEK MONETARY REFORM EDUCATION TO THE CITIZENS"

In Financial Inclusion Week, Al-Rafidain encourages the use of electronic payment in citizens’ transactions

5/3/2024

Rafidain Bank participated in the activities of the Financial Inclusion Week, in the presence of a wide range of financial and banking institutions.

During the participation of its special pavilion in commercial centers, gatherings and other places, the bank reviewed its services and products, including opening bank accounts, adopting electronic payment and collection, encouraging the use of electronic cards to reduce cash transactions, and introducing the importance of citizens saving their money in the bank instead of hoarding it at home.
In addition to the presence of a specialized team to answer citizens’ inquiries about other services.

Participation aims to educate the public about the importance of financial inclusion and the spread of banking culture to the furthest reaches of the country to include all segments of society.

LINK

"RV UPDATE" BY FRANK26, 5 MAY

Frank26

Question "Will the CBI website be down for hours when they change the rate?" No when they change the rate it'll be a push of a button electronically. Instantly the world will know about it. And it will be global news.

Question: "Do you have to change rates before May 9th ascension in the WTO?" No, you can have a membership in the WTO with a low exchange rate. That doesn't interfere with it.

The budget does not need parliament...The budget waits for the exchange rate. The exchange rate is not waiting for it or anything else...The budget is born without them...

Article: "Will the agreements signed with the US Treasury reflect positively on the exchange rates?"

Yeah because they want at least 1 to 1 but they never changed it. They kept it at 1320. I think they're going to come out at maybe 1 to 1.30 or 1 to 1.50 and then float...The only reason they ask this question is because they know the answer to the question!

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-frank26-2-may.html

DINAR REVALUATION