This weekend redemption/ exchange centers are doing last minute training and assembling of teams.
They expect a rate Monday. If and when that goes out, they will release info to book an appointment.
For an explanation of this Jentel, watch Jennifer Fallaw-Doering on YouTube 5/16/24.
🇮🇶Iraq-What a Coincidenc...
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Rv:
Contractors have been paid.
The exchange process can be begin.
Jennifer Fallaw-Doering
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Jentel short: 4/4/24
From Michael.
They are rounding up remaining ring masters ( lower Cabal Management)
who have the authority and funds to call in minions who would create terrorist activities to stop the public from attending an appointment for exchange or redemption.
They must do as much as possible to ensure a smooth and safe opportunity to exchange.
Once it’s started it can’t be restarted.
They want to eliminate as much threat as possible to ensure the public can make it to appointments without reason for government officials to lock people down.
Current situation.
Also, Both plain clothes security and other uniformed security at redemption appointments.
Among them are Russia and China... Members of the Security Council support ending the mission of the UNAMI mission in Iraq
Yesterday, Thursday, a number of members of the UN Security Council, including Russia and China, supported Baghdad’s request to end the mission of the United Nations mission in Iraq by next year, but Washington did not immediately provide its support for this step.
Last week, the Iraqi government asked the United Nations to end, by the end of 2025, its political mission that it has been performing in the country for more than 20 years, considering that it is no longer necessary.
Iraq's Deputy Representative to the United Nations, Abbas Kadhim Obaid Al-Fatlawi, repeated the request before the Council, yesterday, Thursday, saying, "The mission achieved its goals."
Russian envoy Vasily Nebenzia supported this view, saying: “Iraqis are ready to take responsibility for the political future of their country.”
He added: "The remaining problems must not become an excuse for the United Nations mission to remain in the country indefinitely."
China's Deputy Representative to the United Nations, Geng Shuang, noted that within the framework of the annual renewal of the mission, whose mandate expires at the end of May, the Council must "propose a plan in order to ensure gradual withdrawal and a smooth transition towards final withdrawal."
Given that UN missions can only operate with the consent of the host country, Britain and France have also expressed their support for the shift in the partnership between Iraq and the UN.
The position of the United States was more ambiguous, as Ambassador Linda Thomas-Greenfield said that the United Nations Mission (UNAMI) still had “important work to perform,” and did not address Baghdad’s request.
She emphasized the mission's key role in many important political issues, such as supporting the organization of elections and promoting human rights, although Iraq clearly requested that the mission focus more directly on economic issues.
In an assessment requested by the council, German diplomat Volker Perthes said in March that UNAMI, which had more than 700 staff as of late 2023, “appears in its current form to be too large.”
Perthes called on the mission to "begin transferring its tasks to the national institutions and the United Nations team in the country in a responsible, organized and gradual manner within an agreed upon time frame." link
Goldilocks' Comments and Global Economic News Monday AM 5-13-24
The link below provides information on Vietnam's review by the US Department of Commerce regarding Vietnam's ability to move into a Market Economy.
My understanding from the previous article on Vietnam reviewed is that this is not a graded review. It is simply a valuation of the types of goods and services they can provide comprehensively.
Vietnam is showing steady growth in several areas of their Market. Their potential to increase National Capital Investment opportunities on a Global scale is evident.
Clearly, hurdles are being cleared for Vietnam to move into a Market Economy. A Market Economy will allow them to freely move their money through supply and demand.
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Credit Valuation Adjustments on their currency will be determined by Vietnam's ability to move their goods and services near and far at competitive rates.
The Monetary Fund: “Internal Stability Has Improved Since The New Government Took Office In October 2022.”
Reports Washington, DC - On May 13, 2024, the Executive Board of the International Monetary Fund (IMF) concluded Article IV consultations with Iraq and considered and approved the staff assessment.
Internal stability has improved since the new government took office in October 2022, facilitating the passage of Iraq's first three-year budget, which entailed a major fiscal expansion starting in 2023, supporting a strong recovery in Iraq's non-oil economy after a contraction in 2023. 2022.
Iraq has been largely unaffected by the conflict in the region, and domestic inflation fell to 4% by the end of 2023, reflecting lower international food prices, a revaluation of the currency from February 2023, and a return to normalization of trade finance.
Continued fiscal expansion is expected to boost growth in 2024.
*Executive Council evaluation*: Executive Directors agreed with the thrust of the staff assessment, and welcomed the strong economic recovery, low inflation, and improving domestic conditions that led to the implementation of the first-ever three-year budget.
Directors agreed that the immediate implementation of Customs and Revenue Administration reforms, full implementation of the Single Treasury Account, and strict oversight and limitation of the use of extra-budgetary funds and government guarantees are essential to support fiscal consolidation.
Directors praised the central bank's efforts to tighten monetary policy and strengthen the liquidity management framework.
Improving coordination between fiscal and monetary operations would help absorb excess liquidity and enhance monetary policy transmission.
The directors agreed that accelerating the restructuring process of large state-owned banks was essential. They support the modernization of the private banking sector, by facilitating the establishment of correspondent banking relationships, reducing regulatory uncertainties, and enhancing the efficiency and competitiveness of private banks.
Directors agreed that improving governance and combating corruption were also key, and encouraged further strengthening of the AML/CFT framework, strengthening public procurement and business systems, and addressing deficiencies in the electricity sector.
Directors welcomed renewed efforts towards accession to the World Trade Organization and encouraged the authorities to improve the coverage and timeliness of statistics.
Directors welcomed the authorities' request to establish a policy coordination instrument.
The next Article IV consultations with Iraq are expected to be held in the standard 12-month cycle.
Basel III Update: The Real Reason for Delayed Compliance Explained
On May 15, 2024 By Awake-In-3D
Continued delays in adopting Basel III regulations prompt skepticism about banks’ willingness to disclose financial risks, despite reassurances that progress is being made.
In This Article
Persistent Delays in Basel III Implementation
Crypto Asset Regulations: A Convenient Excuse?
Bank Transparency and the Hesitance to Disclose Risk Ratios
Broader Implications for the Banking Sector
Introduction
The ongoing postponement of Basel III compliance raises concerns about banks’ commitment to financial transparency.
Despite frequent assurances from the Basel III Governing Body, the reality suggests that full compliance is far from imminent.
The recent focus on crypto asset regulation appears to be another tactic to delay the inevitable: public disclosure of banks’ risk leverage ratios.
Persistent Delays in Basel III Implementation
Basel III regulations are critical for ensuring the stability of the global banking system. Banks must measure and report financial risks accurately, using approved methods to calculate their risk-weighted assets.
However, the journey towards full compliance has been anything but smooth.
The Basel III Committee has consistently emphasized the importance of implementing these regulations. Yet, deadlines continue to be pushed back, with many jurisdictions now aiming for completion this year or the next. This pattern of delay raises questions about the underlying reasons for the slow progress.
Crypto Asset Regulations: A Convenient Excuse?
The latest hurdle in Basel III compliance involves new rules for managing crypto asset exposures. Originally set for implementation by January 1, 2025, these rules have now been delayed to January 1, 2026.
Claims are that this postponement is necessary to develop a stable regulatory framework.
However, this explanation seems more like a convenient excuse than a genuine obstacle. The classification of crypto assets into two groups, each with different regulatory treatments, adds complexity.
Still, it should not justify such significant delays. The focus on crypto assets might be diverting attention from the real issue: banks’ reluctance to reveal their true financial risks.
Banking Transparency and the Hesitance to Disclose Risk Ratios
A critical component of Basel III compliance is the public disclosure of risk-weighted assets. This transparency is vital for regulators and the public to assess a bank’s risk profile accurately.
However, many banks appear hesitant to disclose their risk leverage ratios, likely fearing the exposure of their financial vulnerabilities.
This reluctance suggests that banks may have more to hide than they are willing to admit. Full transparency could reveal that many institutions are not as financially stable as they claim.
This fear of public scrutiny is, I believe, a significant factor behind the persistent delays in Basel III compliance.
Basel III Compliance Dashboard for US Banks: Notice the yellow boxes (delays) are in credit/market risk and disclosure categories. SOURCE: Basel III Committee/BIS
Broader Implications for the Banking Sector
The ongoing delays in Basel III compliance and the hesitance to disclose risk ratios have broader implications for the global banking sector.
While the Governors and Heads of Supervision (GHOS) continue to express commitment to these regulations, the repeated postponements indicate a lack of genuine progress.
The introduction of crypto asset regulations adds another layer of complexity, but it should not serve as a primary reason for delay.
The lack of full compliance and transparency undermines the stability of the global financial system. The banking sector’s credibility depends on its willingness to embrace transparency and accountability.
The Bottom Line
The repeated delays in Basel III compliance highlight a concerning trend: banks’ reluctance to disclose their financial risks.
While GHOS maintains that progress is being made, the reality suggests otherwise.
The focus on crypto asset regulations appears to be more of a distraction than a legitimate obstacle. The global banking sector must confront its transparency issues head-on to ensure financial stability and restore public confidence.
