FRAN26: "THE SECOND PHASE OF THE MONETARY REFORM OF THE IQD... 'WILL BE REFLECTED IN THE STABILIY OF THE EXCHANGE RATE AND THE RECOVERY OF THE IRAQI DINAR INEVITABLY' !!! !!! !!! (INEVITABLY MEANS IT HAS TO HAPPEN... IN CONCLUSION: A SANCTIONED PROGRAM RATE DOES NOT REFLECT STABILITY !!! !!! !!!)"..........F26
The Central Bank begins the second phase of its banking reform strategy
Samir Al-Nusairi
5/20/2024
Baghdad
The Central Bank announced that it will launch the national lending strategy on 5/25/2024, which is a clear announcement of the beginning of the second phase of its banking reform strategy.
This means that it has completed the first phase of it by achieving tangible and important results in the field of regulating foreign trade financing and regularization of the global financial system through strict adherence to standards. International compliance, building solid international banking relationships with international banks and correspondent banks, and introducing the local currencies of countries with which there is significant trade exchange into cash dealing in their local currencies, in addition to dealing in the US dollar.
As well as activating and strengthening its procedures for transitioning from a cash economy to a digital economy and cooperating with the government in expanding the use of electronic payment tools and spreading the culture of transition to a cashless society. Certainly, the above tasks occupied a large part of the efforts at the local and international levels.
In the second phase, the focus will be on restructuring banks, especially government banks, and starting to implement new policies to support and develop micro, small, and medium enterprises, initiating the establishment and licensing of the Riyada Bank, and licensing the Green Bank, which will specialize in sustainable financing for renewable energy projects, as well as moving toward licensing digital banks to keep pace with progress in the field of banking products. Modern digital. The electronic platform will also be gradually left this year.
One of the tasks that will begin work is to rehabilitate the banks restricted from dealing in the US dollar to comply with international standards in light of the work of the joint committee between the Central Bank and the US Department of the Treasury, through which the work of these banks in foreign transfer activity for previous years will also be analyzed and audited, with the hope that it will be increased. Restrictions on it.
What we expect from the procedures and policies adopted by the Central Bank in the first phase and what was achieved from them and what will be achieved from the second phase of the banking reform strategy will be reflected in the stability of the exchange rate and the recovery of the Iraqi dinar inevitably.
Well folks was advised we would have positive indications today but now am being told it should come on the 24th which is this coming Friday which would give the banks time to deal with their Fridays and Mondays and begin to schedule appointments later into next week.
We can only hope that at some point these projections will be accurate.
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Some very positive news out of China and England re Bond Holders today but as yet I am unable to confirm, but with all the reporting about gold backed currencies world wide we are still moving in the right direction.
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We speak often
His exchange personnel are on 45 minute stand by to be at exchange centers to begin scheduling appointments for us.
No he doesn't personally he has 5 states surrounding Texas, if WF is a bank in FLA they will be exchanging
Yes read up to before I opened
WF will have exchange centers
She is healed thenks for asking
Folks I am about to catch the local news, mix a whiskey and watch the second NBA game, so will advise should I get any updates. THANKS and GOD Bless.
The Council of Ministers issues decisions on lagging projects and financial reform
Baghdad - Mawazine News
The Council of Ministers on Tuesday adopted new decisions related to the country's neglarizing projects and financial reform steps, while deciding to install 17 general managers in separate departments.
This came, during the presidency of Prime Minister Mohamed Shiaa Al-Sudani, the 21st regular session of the Council of Ministers, in which the general situation in the country was discussed, the topics on the agenda were discussed, and the necessary directives and decisions were issued thereon, according to a statement received by Mawazine News.
At the beginning of the session, the Sudanese touched on the painful incident that claimed the lives of the President of the Islamic Republic of Iran, the Minister of Foreign Affairs and their companions, stressing the solidarity of Iraq, the government and people, with the Iranian people and the Iranian leadership in these difficult times, and described the departure of the Iranian president as a great loss, because of his personality that loves peace, work and cooperation, referring to the joint files, whether between the two countries and with the countries of the region, which witnessed, during his presidency, further progress and achievement.
The session witnessed the review of the results of the report on the evaluation of the performance of ministries in the field of anti-corruption for 2023, and the Prime Minister directed all ministers to pay attention to the results of the report, and work to follow up on his recommendations and observations and remedy them in the results of the evaluation for 2024.
In the context of following up on infrastructure projects, the Prime Minister directed the preparation of a comprehensive vision and an integrated study on the Hally Road project in Basra Governorate, attracting sober companies in implementation, and coordinating with Basra Governorate on completion and implementation.
The Prime Minister also directed, within the framework of reforming the administrative structures of state institutions, to re-form a committee that is studying the merger of the General Company for Food Trading and the General Company for Central Markets, to present the results within a month.
The Council of Ministers continued to consider the file of lagging and suspended service projects, and put the processors to complete the work in them, as it approved the following:
1- Increasing the amount of the reserve for the project (processing and implementation of two treatment stations in Nasiriyah / Dhi Qar Governorate), and increasing the total cost of the Nasiriyah sewage project.
2- Increasing the total cost and amount of reserve for a construction (establishment of the second corridor of the Ghammas Junction Road - Al- Hamza 62 km).
3- Increasing the total cost and amount of reserve for a construction (establishment of a modern bridge and its approach).
With regard to evaluating the efficiency of general managers and follow-up performance, the Council of Ministers approved the installation of (17) Directors-General in various state ministries and institutions, distributed by (4) general managers in the Ministry of Water Resources, (3) in the Ministry of Agriculture, (3) in the Independent High Electoral Commission, (3) in the Military Industrialization Authority, and one Director-General in the ministries of electricity, industry, the Political Prisoners Foundation, and the Federal Financial Supervision Bureau.
In the context of following up the implementation and completion of traffic jam mitigation projects, the Council of Ministers approved what is confirmed in the book of the Ministry of Construction, Housing, Municipalities and Public Works, on the project to develop (front torm), provided that the Ministry bears the integrity of the procedures related to contracting. The project includes the expansion of the road from the front towards the Diyala Bridge, to improve traffic, and to ensure that the realization of the flow of integration with the project of the Mohammed Al-Qasim road connecting the road to the army canal road from the side of Rustama, in addition to the expansion of adjacent streets within the track, the establishment of two bridge intersections and the organization of the front.
The Council of Ministers voted to exclude the Italian company (GKSD) from the registration conditions set out in the amended Foreign Companies Branch Law (2 of 2017), and approve the financing of the preparation and management contract for the Internal Security Forces Hospital from the budget of the Directorate of Welfare Affairs of the Internal Security Forces, while ensuring the implementation of the restriction of all revenues, which the hospital receives from its operation, finally in favor of the budget of the aforementioned Directorate.
In the field of financial and administrative reform, the Council of Ministers approved the adoption of the (National Methodology for Good Governance Standards in Iraq), prepared by the Diwani Order Committee (84 of 2021), based on the provisions of the Constitution, taking into account the observation of the Legal Department in the General Secretariat of the Council of Ministers, not to create a section related to the follow-up of the implementation of the adoptions of good governance and administrative configurations, within the planning departments in ministries and entities not associated with the Ministry and governorates; to to conflict with the government's vision of reducing and rationalizing administrative structures. A specialized team, from the Ministry of Planning, the Board of Advisors and the Follow-up Committee of the Government Program, submits a report every (3) months, to the Prime Minister for decision.
As part of the follow-up of the energy projects with foreign companies, the Council of Ministers approved the recommendation of the Ministerial Council for Energy (24035 i) for the year 2024, which includes the contractor (Dutch Boskas Company) for a period of one month to sign the contract, starting from the date of issuance of the decision of the Council of Ministers, otherwise the appropriate measures will be taken in accordance with the instructions for the implementation of government contracts (2 of 2014).
In the same file, the recommendation of the Ministerial Council for Energy (24039 I) for the year 2024, on the supply of gas from (Al Hilal Oil Company) was approved, which includes the approval of the findings of the committee composed in the Ministry of Electricity, on discussing the price of dry gas to be processed from (Al-Hilal Oil Company), to the Kirkuk gas power plant, according to the details established by the ministry, and its continuation of signing the contract with the aforementioned company, taking into account interest the opinion of the Legal Department in the General Secretariat of the Council of Ministers, and the Ministry bears the integrity and accuracy of contractual procedures, in accordance with the laws, regulations and instructions.
In the foreign relations process, the Council of Ministers agreed to submit the Ministry of Foreign Affairs, through an official memorandum, to ensure the right to open a consulate general of the Federal Republic of Germany to the Republic of Iraq, in case of a future request in accordance with reciprocity, and the matter will be presented to the Council of Ministers at the time after determining one of the Iraqi provinces from the German side to be the headquarters of its consulate.
In application of the Council's approach to supporting the localization of the pharmaceutical industry, and encouraging the production of medicines and medical supplies inside Iraq, the Council of Ministers approved the exception (National Health Factory) from the provisions of paragraph (1) of its resolution No. (23151), related to the classification of pharmaceutical factories and the controls of referring the contracts of the Ministry of Health to them, in accordance with the classification mentioned in the aforementioned article.
The Council also approved the amendment of its resolution (24045 of 2023), regarding the Ministry of Industry and Minerals to take over the processing of the Justice Book and Real Estate Registration Departments with real estate agencies and bonds, in order to ensure the printing of the needs of the real estate registration and the law book departments in all the Ministry of Justice, not the agencies and the real estate bond (25) only, as well as the General Company for Food Products / Ministry of Industry and Minerals, amending its founding statement in line with the activity mentioned in accordance with the law.
In the direction of cooperation in the judicial and legal field with friendly countries, the Council agreed to authorize the Minister of Justice to negotiate and sign a draft cooperation agreement, between the Government of the Republic of Iraq and the Government of the Republic of Bangladesh, in the field of transferring those sentenced to deprivation of liberty, based on the Constitution, and the Ministry of Foreign Affairs to prepare the necessary document of authorization on behalf of the Government of the Republic of Iraq to the Minister of Justice, in accordance with the adopted contexts and submit it to the General Secretariat of the Council of Ministers; to obtain the signature of the Prime Minister.
In the field of following up Iraq's contribution to international efforts to combat climate change, the Council of Ministers approved the retention of the members of the permanent negotiating delegation for climate change, and the possibility of replacing them except as stipulated in the Diwan Order (24115 of 2024), and securing financial allocations for the participation of the members of the permanent negotiating delegation for climate change in the various climate meetings, as well as the annual climate conference, in accordance with the laws, regulations and instructions in force. The Ministry of Finance finances the amount established by the Ministry of Environment.
The monetary authorities shorted the price of gold and silver to drive down the price of fiat currencies (real interest rates),
So that banks could make loans to economic actors who were interested in a financialized (financial assets) economy
versus a labor intensive economy.
Because there’s no money in actual producing things.
So naturally, China wants to break the dollar system to stop the predatory U.S. from using fiat dollars to control the world.
How does China do that? By controlling the global price of physical gold and silver.
To break the manipulated U.S. price suppression of gold and silver paper contracts.
So yesterday, we saw China begin to pull the plug on the Dollar.
This is why U.S. Treasury bonds now have no intrinsic value to the rest of the world.
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Welcome to Wonderful Wednesday
Member: Good Morning Marvelous mods, Mark, and RV’ers
Member: With Iraq half way through their 3 year budget using the same rate- Isn’t it feasible they can continue that until 2026 and then change the rate?
MZ: Except for the projects they are kicking in this year. If you look at the 2024 and 2025 budget-there is more projects . They are going to have to do something or they are going to end up billions in debt..
MZ: That is one thing for Europe, Japan and the Us US who can willy, nilly print more whenever they want…. But, that will not work for Iraq.
Member: Frank said last night that Iraq is working out of 2 sets of books. One at 1310 and one with a float of over $3.00 US
MZ: I whole heartedly agree with Frank. It’s the only thing that makes logistical sense. When I see the projects and some of the moves ane ways the contractors are getting paid…I very much believe they are operating out of 2 sets of books until they get the opportunity to announce it to the world. Then is should be one set of books.
Member: El Sudani is planning on building 8 new cities. This will not get done at a program rate.
Member: It is the US holding it up not Iraq. Maybe Iraq can't go until the USTN has been announced.
MZ: I think the US is desperate enough to let Iraq move forward….
Member: I think it’s the Chinese elders holding us back. Imho
MZ: They may be holding us back waiting on the “clean up”? One of the things Mr. C and Interpol said is that one of the key sticking points has been the level of disclosure the elders are insisting on and the level most western leaders won’t admit to even though it is factual.
Member: I have waiting for the “Bad” guys to be arrested for 10 years! I’m sure others have been waiting even longer.
Member: It sure looks like Iraq is waiting for other countries get ready for RV. Just waiting for that green light.
Member: this nation can't continue this way any longer… let's reset!!
Member: I don’t think the RV will happen until the end of the year
MZ: Do you think our financial system will last until the end of the year? I don’t.
Member: I don’t think the financial system will last until July 4th….much less end of year.
Member: Hopefully this is our big weekend….
Member: I think we exchange during fiat system, hence high rates paid in fiat, then asset backed currencies enter and our accounts turn 1:1 IMO.
Member: Isnt today the day government employees get an EAS or EBS…Like the IRS and other gov organizations?
Member: Do you believe bonds have started?
MZ: I very much believe bonds have started. Do I Think individual bond holders have been paid- No. Do I think there are bond meetings today where they are called in over the last 24 hours to be there in person- yes. So I very much believe bonds have started.
MZ: I know of bond facilitators that have spendable money. I know people working on humanitarian projects and their bonds are solely making maes and purchasing equiptment. So I am confident money is moving. I don’t think it’s moving for profit bondholders yet.
What is a paymaster or facilitator?
MZ: They are the link between bond buyers and sellers. A facilitator ccnnects the 2 parties. Think of them as the closing attorney at a real estate transaction between the person selling the home and the person buying the home…..….he makes sure all fees are paid. Money is where it needs to be…..That is a paymaster.
MZ: Short bank story: In a nutshell (not verbatim) A person goes to her bank and wants to have a conversation. She could tell the manager is very uncomfortable. she asks him if there are things he cannot say…….he nods his head yes. She starts asking him questions about our currencies and our exchange. The manager was shaking his head yes and no…meanwhile saying the things the bank wants him to say.
MZ: Are you expecting new currency ?( he nods yes) Is it asset backed (He nods yes) Are you going to get to exchange dinar, dong ect? (he nods yes) Are you trained? (he nods yes) Meanwhile he has to say “It’s just a scam” If he said anything else he might get in trouble.
Member: Sure sounds like he was bugged…or someone is listening to make sure they don’t leak info doesn’t it?
Member: My Husband went to Chase yesterday to ask about the RV and was told to come back Thursday.
Member: Any 28% capital gains tax on currency exchange?
Member: Dear God – let’s hope not.
Member: As of right now it's smart to assume there will be capitol gains paid to the IRS at tax time from our exchanges. Biden wants 44%... If that happens we can hope to get it back with Nesara.
Member: Hope for the best (no taxes) but prepare for the worst.
Member: I wonder what's up with Biden resigning the iraqi doc. EO 13303 ….I thought Iraq was free and sovereign and the US couldn’t mess with them anymore????
Member: With YOUR PREVIOUS excitement and tight lipped but "hopeful" podcast, it seemed good was coming soon...pray it into existence
Member: Lord, we are so weary, strengthen our resolve to help make this the world you wanted for us! Lift us up & bless your faithful to go out and be beautiful examples of your unconditional LOVE!
MZ: MilitiaMan is going to join us tomorrow morning….to give us the latest.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
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Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
