Saturday, May 18, 2024
ADVISER TO THE PRIME MINISTER: A REFORM PROCESS IN IRAQ BEGINS WITH THE GOVERNMENT BANKING SECTOR, 18 MAY
ADVISER TO THE PRIME MINISTER: A REFORM PROCESS IN IRAQ BEGINS WITH THE GOVERNMENT BANKING SECTOR
Today, Wednesday, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, stressed the importance of moving to reform the banking sector in Iraq, while noting that depriving some banks of foreign currency is an opportunity to restructure and organize them.
Saleh told the Iraqi News Agency (INA): “Prime Minister Muhammad Shiaa Al-Sudani has a keenness to protect national capital, in addition to the fact that banking institutions need reform,” indicating that “what happened in depriving some banks of foreign currency is an opportunity to restructure and organize them.” “.
He added, “There is a program to reform the banking sector by starting with the government sector because the government banking sector dominates 85 percent of banking work and the rest of the small emerging markets, even though their capital constitutes 78 percent of the banking system’s capital, but they need to be reorganized and restructured to transform into… “Sound market institutions are integrated into the global economic system and have a role in finance and economic development.”
He pointed out that “there is a reform process in Iraq that begins with the government banking sector and then the private sector,” pointing out that “the injustice that happened to the banks is an opportunity for reform.”
Bruce’s Big Call, 18 MAY
Bruce’s Big Call Dinar Intel Thursday Night 5-16-24 REPLAY LINK Intel Begins 1:13:23
Transcribed By WiserNow
Welcome, everybody to the big call. It's Thursday, May 16th and you're listening to the big call.
We just want to welcome everybody. Some of you might be new listener. Some of you might have been listening for the last 13 years to the big call. I want to thank the satellite team for getting the call out there globally. So that's really been very big - good information,
All right. Do this - intel, this could take us till 10:30 But this is, this is what we want to say what's going on - Fortunately, we got some pretty good information, about an hour and a half or two hours ago, by two hours ago.
Now, we've heard from I'm gonna say one of the very most top people in our lead bank which is Wells Fargo – which is the very top of the top - gave our information handler, our intel guy - said, let me see if I can remember exactly how he says it. “Looks good for a shotgun start over the next two days”. And that was said Wednesday. So that was referring to Thursday or Friday tomorrow - a shotgun start
Now this is a term that Wells is starting to use – some of our other Wells contacts they’re saying using the term “shotgun start.” So this has worked its way into the vernacular of Wells Fargo corporate.
Now I'm going to touch on that again - I'll come back to that. What is interesting is we know we're super close.
We know that the USN has been trading for quite a while now - and so is - and has the Iraqi dinar – now we always tend to come back to what's going on in Iraq – what’s happening in Iraq, because in a way they are sort of the linchpin for this going. We know that – I heard today and I don't know if this for yesterday or today that Iraq paid back the IMF – a loan that they got in 2003. and that's when the new 25 10,000 5000 1000 dinar notes were printed. Our notes that we have now are printed starting in 2003. And they paid the IMF back at $8 billion against a loan Iraq received in 2003.
Now, to do that, you had to have a revalued dinar - to do that - to make that doable. I told you guys, Tuesday, roughly what the rates were without getting specific. And I'm gonna say the rates are actually on the ATM’s in Baghdad in airports and other places.
So have they converted over to I think the new rate in country – yes . I say they have to be yes.
Does everybody in the world know about it yet?
I have to say some of the world does, but they're keeping it from us.
They're still keeping it from us until we go until we receive our numbers and we can book our exchange appointments at the redemption center - we can call in and get that done. But until that time, it's kind of been kept from us on purpose. That's just the way they're doing it. they're keeping it hidden until they're ready for everything to be released.
I can tell you that the in country rate ATMs are is a rate And I can tell you that you know I don't usually do this as you guys know, but I have to let you know that I think that Iraq's rate needs to be on the forex and it may have gone on yesterday, I don't know that though, and I'm not positive whether it needs to go on the forex for us to go – the theory is that it does.
So we'll see. We'll see what happens with that. We'll see if that's true. or not.
We want to talk about tonight - you guys know we have about 17 - 18 currencies that are going up substantially in value. We know that you know that obviously dinar and Dong - Dong is one of those. the Rupiah - the Afghani the uhhh - there's a lot of currencies we never talked about need to go up - And some of them will be significant.
The Venezuelan Bolivar is one that is going up - substantially too – a good buy - And some of us have taken advantage of that.
But nothing's gonna touch the Zimbabwe $1 – which - Remember about two or three weeks ago, we talked about the Zimbabwe in gold - Zig - the ZIG by weight in gold, Gold back in Zim dollar - came out it was announced. And that's your gold back which is great.
I heard something the other day we actually believe in all of us as more in ground assets - and more gold than you guys would understand if I even told you about it. And don't think it's at Fort Knox – cause it’s not - we might have some there but we don't have all of it there, but I'm just thinking we are really coming down to the wire on us.
Iraq also, a week ago yesterday - If I remember my dates - were accepted as full fledged members in the World Trade Organization, the WTO. so they're in the WTO. they pay back their loans and the IMF.
They got a new rate in country at probably the Middle East knows about it. They I'm sure know about it, and know whether or not we're the only ones that don't know about it. You know now cause I just told you - But other than that, nobody's gonna find out about it. unless they're listening to the big call or replay, but I'm excited about that.
Now, let's cut to…. Okay.. This came with one of our bond paymasters with Wells Fargo.
He contacted someone in Geneva - the bonds are paying out - that's where a lot of that good information comes out of Geneva not so much Zurich - but Geneva -
And the word is that according to our bond pay master who has a regular contact in Geneva that he didn't get to speak with today yet, but he expects to hear from and if -- Okay, this is gonna get a little a little convoluted ……..
We have information that's coming to us that suggests that they're going to try to release this, which means a shotgun start for tier three which is the bondholders – tier 4A & 4B which is us - admirals and the Internet Group 4B, but Wells Fargo refers to as tier four.
So the idea is that our so called shot gun start I'm sorry, I'm gonna say it's gonna get the green light later tonight. And not too much later than right now. Maybe a couple of hours, but theoretically before midnight. And I may know something from my information – my information handler – at midnight tonight, whether or not they did it – did the release which I interpret as a new green light from military from Treasury from Wells Fargo to let everything go.
Now - It really puts tomorrow in play. I believe. I'm using faith here because we don't know that it is going to be released tonight. But I have a feeling that they are going to try to do it. They say they're going to try to put out these all these different terms, get it out and release it. You know, all these things I'm talking about. I'm excited about this.
And I hope that this is something that could be helpful to all of you in the call universe because you know it does me no good to give intel that doesn't happen, right? I don't like that. I like it all.
We know, half of what I say is happening. It is true – it is happening behind the scenes - but the one thing that we really want is the toll free numbers to call in - Set our appointments to do our exchange.
That's really the name of the game. That's where we've been and that's what you guys want. That's what I want – what Sue wants and Bob wants - all of us – want this to happen - and we’ve waited a very long time for it - 20 years for me – I got in March of 05 – and thought I was late in the game – late to the party - but I wasn’t late – I was right on time – and I’ve been in it 20 yrs -
So bottom line is we are all anticipating getting something big here and let’s go a little further with the intel and I was wondering what else I was going to say – I was wondering when are we gonna get the R&R, the increase on social security,
We have a contact in the Soc Sec Administration - they told my information handler that people on the 4th Wednesday for Social Security would get a bump in their social security and it's a substantial bump.
It's a big - it's that increase we talked about and that according to this gentleman - and should happen.
Some people get it early say like Saturday, some people get it on Wednesday, which would be the 22nd and that is supposed to occur.
Now, other people that have already been paid for social this month. I don't know if they'd get it this month. I think they would but they probably get a second payment to their Social Security bank accounts. The accounts that their social is direct deposited into I don't have the particulars on that. But I can tell you that - Wednesday's the month of May because the first of May was a Wednesday the fifth Wednesday the 29th of May.
And when we hearing about R & R is that it would occur that at the very end of May, which I think is gonna be on or around the 29th - Wednesday the 29th.
Now for those of us who have currencies, that we're setting appointments, and going in for our exchanges and redemption of Zim - our R&R - restitution reclamation allowance is supposed to come in then - when we go in for our appointments. We're supposed to get it then. And then it would be just a lump sum amount for those of us who are 62 and older and on Soc Sec , we would get a lump sum added to our exchange totals.
Okay, so I'm not sure exactly how that's going to work, whether we get all of it, whether it goes into our quantum account, and then we pull out money as we need it. That could very well be the case. So it is something that's added to our totals when we do our exchanges and redemption of zim
I want to make sure we know how much it is right now. So I can just know it for no other reason than to know what the total is - Alright, so there's your R&R.
Now for those that are not at age 62 I don't know exactly how you're gonna get it but you're gonna get that and it should be at the end of the month.
Like the 29th is going to be the day for a lot of people that are not doing exchanges. So we will see how that all works out - So we got an increase in security supposedly occurring this month still.
And we've got the R&R happening at the end this month. And the RV could very well be happening later tonight, where the green light so to speak is given, and then once we move to get toll free numbers which would come in our emails.
We would go and set those appointments with a call centers and then speak to somebody at the redemption centers - We're connected to that redemption center or given a number to call to get to that redemption center that is indicated by our zip code. When we call in for our appointments.
So that's how close I believe we are. And I'm excited because I think sometimes we're looking at things We've been here before. And I think a lot of ways we've never been where we are right now, before.
There's other anecdotal stories that I'm not at liberty to discuss, but I can tell, definitely happening on the scenes, and we only know 10% / 20% of whats going on
So that's what I wanted to share with you guys tonight. So let's do this. Let's go ahead and pray the call out - let’s stay in faith for it like we have been – let’s look forward to see what might happen tomorrow. I mean, I can't say absolutely guys, you know, I would if I could, but this is pretty good information coming in. That they're going to try to make the attempt release everything tonight.
So keep your eyes on your emails tomorrow. Let's see what happens and otherwise lets enjoy the weekend and ok deb enjoyhopefully the nice weather where you are.
But let's pray the call out So I want to thank you guys. for listening though. it's a big call universe. Thank you for listening.
Let's keep an eye on this thing. Let's see if this intel that we got today comes through and we look forward to getting started moving into new directions.
Alright guys, let's pray to call out everybody thank you for listening. Have a great night. Have a great weekend. God bless you.
IMPORTANT IRAQ NEWS: SUDANESE: MEMORANDUMS OF UNDERSTANDING SIGNED DURING WASHINGTON’S VISIT ARE BEING IMPLEMENTED ON THE GROUND BY MNT GOAT, 18 MAY
SUDANESE: MEMORANDUMS OF UNDERSTANDING SIGNED DURING WASHINGTON’S VISIT ARE BEING IMPLEMENTED ON THE GROUND
DURING A MEETING WITH BLINKEN’S ASSISTANT
Baghdad –
Prime Minister Mohamed Shia al-Sudani said on Wednesday that the memorandums of understanding signed with the United States during his visit to Washington last month are being implemented on the ground, during a meeting with US State Department Assistant for Energy Jeffrey Payte.
Prime Minister Mohamed Shia Al-Sudani received, on Wednesday, US Assistant Secretary of State for Energy Resources, Jeffrey Payte, in the presence of the US Ambassador to Iraq, where they reviewed the most prominent files of cooperation in the field of energy, in all its forms, and ways to develop it, in a way that contributes to achieving common interests.
During the meeting, His Excellency stressed the government’s keenness to implement its executive approach within the axis of achieving energy self-sufficiency, in the fields of exploiting natural and associated gas produced locally, generating electricity, providing oil derivatives, and producing chemical fertilizers and petrochemicals, referring to the memorandums of understanding signed during his visit to the United States of America last April, which are being implemented on the ground.
Mr. Al-Sudani referred to the government’s efforts and steps in the field of economic and financial reform, especially in the fields of tax, customs and the banking sector, and completing the elements of the ideal investment environment, calling on American companies to work and invest in Iraq.
For his part, Mr. Byte praised the efforts of the Iraqi government in developing the energy sector, and referred to the joint statement of the Prime Minister and US President Joseph Biden, which represents a roadmap and framework for work and fruitful cooperation, stressing the desire of American companies to invest and expand their activities inside Iraq.
"RV UPDATE" BY CLARE, 18 MAY
Clare
Article: "IMF Executive Board Concludes 2024 Article IV Consultation with Iraq"
Article: "Iraq increases its possession of gold by more than three tons, bringing the total to 145,661" Quote "Iraq's gold reserves witnessed a noticeable increase during the month of February 2024
, as International Monetary Fund data showed that Iraq has increased its possession of the precious metal by 3,079 tons, bringing the total to 145,661 tons."
Article Quote: "The Central Bank of Iraq's cancellation of the currency {auction} window at the end of 2024"
WE KNOW THIS ... SUDANI & ALAQ HAVE ALREADY AGREED WITH DC ON THIS! IT IS TRUE... THEY (ARE) AND WILL BE ASSET BACKED...WILL FLOAT AND THERE WILL BE A MANAGED CAP...
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