Well folks as we have been told the ideal time for release would be over a Holiday weekend and the banker was hopeful that we would receive notification close to the Reno bank closing time tonight.
That didn't happen unfortunately. Have also received comments declaring I am just another Guru scamming you folks.
Salty is a dear friend who provided this room for me and my ultimate goal is to make available some basic financial planning techniques to avoid you becoming like Lottery Winners and be broke within a year or two of getting paid,
As a result I don't open very often but the banker is hopeful he will get notified as we progress further into this weekend. Should I get notification I will surely share, Happy Memorial Weekend and GOD Bless.
The IMF is now publicly supportive of a gold-backed currency.
Many did not have this on their bingo card.
The foundation is changing.
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MIKECRISTO
The IMF is speaking on behalf of the Chinese Gold revaluation.
The IMF knows what’s about to go down…
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IMF endorses Zimbabwe’s gold-backed currency, ZiG, as ‘positive policy action’
In its first public comment on Zimbabwe’s new gold-backed currency, the International Monetary Fund (IMF) has welcomed the introduction of the Zimbabwe Gold (ZiG) as a significant and positive policy action.
The endorsement comes after the ZiG was launched last month. The new money aimed at stabilising the economy is backed by gold and foreign currency reserves.
According to an IMF spokesperson, the introduction of the ZiG represents a major step forward, supported by important monetary, currency, and fiscal policy measures. This move is seen as a crucial step towards economic recovery and stability in Zimbabwe.
“The introduction of ZiG represents a significant policy action accompanied by several complementary policy changes, including monetary, currency and fiscal policy measures,” the Washington based IMF spokesperson told Bloomberg.
Zimbabwe has been unable to access financing from prominent international lenders like the IMF for over 20 years. This is due to its failure to service its debt obligations to various creditors, including the World Bank, African Development Bank, and European Investment Bank.
As a result, the country has been excluded from receiving crucial financial support from these institutions, hindering its economic progress and development.
The IMF delegation, led by Wojciech Maliszewski, completed a critical mission to Zimbabwe in February 2024. They called for the need for sweeping economic reforms to tackle pressing issues such as high inflation, currency volatility, and unsustainable debt.
The organisation said it remains committed to providing policy guidance and technical support.
Report: The departure of the United Nations mission from Iraq is an important step for the Sudanese government
A report today, Friday, explained that the departure of the United Nations mission present in Iraq at the end of this month of May is a step of great importance to Iraqi sovereignty and to the government of Prime Minister Muhammad Shiaa Al-Sudani.
The report, which was published by the newspaper in English, and translated by Mail, stated, “The call to end the mission of the United Nations Assistance Mission for Iraq is part of a larger effort made by Baghdad to change the image of Iraq and direct it to an era that focuses on normal bilateral relations with other countries and international institutions.”
Renad Mansour, director of the Iraq Initiative at Chatham House, said, “The veneer of sovereignty is important for the government of Prime Minister Muhammad Shiaa al-Sudani,” noting that “Baghdad wants to show that this is not the same Iraq that witnessed a civil war, rebellions, or all of these types of conflicts that... "I have represented the country for the past few years, but this is a new chapter."
He added, "This is also why the Sudanese government hopes to renegotiate the presence of international forces present in Iraq as part of the anti-ISIS coalition."
Moreover, Baghdad believes that the presence of special UN oversight and officials reporting to the Security Council on its often embarrassing local dynamics hampers its strategy .
Other countries, which of course have their own problems, are not subject to similar reporting requirements .
Last year, Baghdad requested a strategic review of UNAMI activities as part of a one-year extension of the mission's mandate. This led to the visit of former UN official Volker Perthes to Iraq in November. He met with a wide range of actors across the country to assess the Mission's activities and future.
Al-Sudani's letter in April was a response to the strategic review's activities and conclusions. It objected to the fact that Peretz met with officials and figures from outside the Government of Iraq, including party officials and members of the Kurdistan Regional Government and civil society, and demanded a shorter timetable for the closure of the UN mission and the cessation of its activities. To be limited to non-political jobs.
Mansour pointed out that "there is a great debate about the role of the United Nations Assistance Mission for Iraq, but not everyone agrees with the government in Baghdad that the mission's political activities are no longer needed . "
The report continued, "The end of the mandate of the United Nations Assistance Mission for Iraq will not mean that Iraq is completely ending United Nations activities in the country . "
Mansour said, "This is a symbolic effort on the part of the government to present the country as a sovereign state that does not need a UN mission, nor does it need to hold a briefing to the UN Security Council every three months."
Some members of the international community have expressed their fear of ending the mission, albeit in diplomatic language.
The United States is a particularly important actor because it has the pen on Iraqi issues in the Security Council, which means it leads negotiations and drafts resolutions. This will be important in the coming weeks link
On the contracts...The way I see it, the two most important factors are 1) the guarantee's, and 2) the fact that these countries and contractors have faith in Iraq to pay for the work they are doing. Let’s say I want to do an electrical contract for Iraq. I want 1 million dollars for it. I don’t care what the exchange rate is as long as the payment I receive is worth 1 million DOLLARS. They are using dinar to pay...since January 1...A sovereign nation must use sovereign currency to pay their debts or they are in violation of the multi currency practices(MCP) that the IMF abhors.
The parallel market rate is an illegal, “black market” rate. This is the rate they have been trying to get rid of andwe all know how they can easily get rid of it, and that’s by adding value to their national currency. A value that is much higher than the dollars they have used for 20 years.
I believe the way they are doing this is kind of like building all the financial infrastructure FIRST, that when all else is done, will be able to support the worlds most valuable currency rate. They are doing it right. Not just flipping a switch. That very last part of the cake, is the icing. The best for last.
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We used to get articles all the time about the need to pay salaries. I haven’t seen these much lately, if at all. Something else missing has been the START of new contracts and their costs...With the added 400 billion in new agreements Sudani spoke of. That’s billion dollars too by the way. Convert that to dinar if you like and see if you think Iraq has ever had that many dinar printed.
Then we have the HCL rights which are defined in the constitution as well, but still nothing on paper. Obviously Sudani’s government is keeping a secret. I wonder what that could be? Wouldn’t these three items be dependent on a NEW value to their currency? I have no doubt.
Iraq has approved a three-month extension of the Memorandum of Understanding (MoU) for oil supply to Jordan at the same price and terms, according to Jordan’s Ministry of Energy and Mineral Resources.
The Overseer of Jordan’s Oil and Flammable gas Directorate, Designer Iman Awad, expressed that Jordan has finished every single important strategy and is planning with Iraq to begin the stacking of raw petroleum from Kirkuk to the Jordan Petrol Treatment facility in Zarqa.
In the coming days, the oil supply is expected to begin. Furthermore, Jordan has mentioned a one-year recharging of the MoU following the finish of the leftover amounts under the ongoing understanding, expected to be stacked during the expansion time frame.