FREEDOM FIGHTER
Today maybe a quiet day but we are going to share something with you from Iraq 🇮🇶
Sometimes to see where we are it helps to know where we came from.
TRUTH TELLER
Freedom Fighter ©
💥Dr Shabibbi , late Governor of the CBI in 2011
💥He wrote the Iraq White Paper economic reform plan aka (IRAQ RV PLAN) in 2011
💥Iraq has come a long way since this video
https://youtu.be/ol8wve53-ME?si=uB1s8XKOwFENuLCI
KTFA
FRANK26: "THE MONETARY REFORM DEMANDED THIS!!!"...........F26
5/25/2024
Baghdad
The Baghdad Operations Command confirmed today, Saturday, that there is high coordination with the concerned authorities to install surveillance cameras in all areas of the capital, in accordance with the directives of the Commander-in-Chief of the Armed Forces, Muhammad Shiaa Al-Sudani, indicating that security operations are continuing to reduce criminal crime in all areas of Baghdad.
The Baghdad Operations Commander, Lieutenant General Walid Khalifa Al-Tamimi, said, according to the official agency, “The Baghdad Operations Command carried out inspections and raids on some areas where members of criminal gangs and outlaws are present.”
Al-Tamimi added, "The security operation resulted in the arrest of many residents illegally, and many wanted persons were arrested according to various materials, in addition to the seizure of weapons and narcotic materials," stressing "the continuation of security operations."
He pointed out, “There are directives from the Commander-in-Chief of the Armed Forces, Prime Minister Muhammad Shiaa Al-Sudani, to support the armed forces by installing surveillance cameras in all areas of Baghdad,” indicating that “the Operations Command, in coordination with the Baghdad Governorate and the Ministry of Interior, is working to install the cameras.” ".
He pointed out, "Services were provided to the areas that were searched, including the Al-Bataween area, which was neglected, where streets and electricity were organized and security forces were distributed within that area to secure it completely."
He continued: "There are also ongoing operations in the rest of the regions, in order to stabilize the security situation, reduce criminal crime, and arrest the gangs present in those areas."
True GCR Story from a 3 Million Mile Business Traveler
This is not a rumor mill ‘bank story’…
Over the years, I’ve been asked many times why I’m such a GCR advocate.
Given my Executive business career, I guess I don’t strike my peers as a ‘financial conspiracy theorist’.
For about two decades, I was an entrepreneurial business nomad being away from home 75% of the time.
I would book round-the-world flight plans on a regular basis. Enough to accumulate 3 million statute miles travelled on United Airlines alone.
One time, I was on a flight from LAX to Hong Kong and upgraded to international first class, thanks to United Global Services perks.
Sitting next to me was a diplomat across the aisle from Vietnam.
Halfway through the 15-hour flight, we got to talking.
Given Vietnam is a socialist/communist nation, I jumped at the chance to discuss economics and international financial matters.
It was a fascinating conversation. Of course I asked about the VND’s 5-digit exchange rate vs major G7 currencies.
Later, as we were waiting together in the HK business lounge for our respective connecting flights, he shared something remarkable.
He told me that the VND would revalue at some point as plans were being drawn to form an allied block of emerging economy nations.
He wouldn’t speak of details for various reasons, yet, when he was saying his goodbyes, he said I should consider buying some VND if I were ever to find myself in Vietnam.
There’s a lot more to this story, but you get the gist.
A few months later, on another trip, that’s exactly what I did after deciding to fly to to Hanoi for a few days while staying in Singapore.
Now Vietnam seeks to join the BRICS alliance.
Sometimes, seemingly unremarkable nudges hit you like a hammer.
Ps. This is NOT financial advice. I’m just a guy on a GCR journey.
KTFA
FRANK26: "WHEN SUDANI CAME BACK FROM DC... HE DID THIS & SUPERVISED THE VIDEOS THAT ARE ABOUT TO COME OUT.".......F26
Report: Arab banks expand in Iraq because of Washington!
5/25/2024
“Al-Arabi Al-Jadeed” newspaper published a report in which it talked about the expansion of the work of Arab banks in Iraq, while indicating an increase in investments in the country as a result of US sanctions on Iran.
Text of the report:
Major Arab banks expanded their presence in the Iraqi banking sector during the past months, through their cash investments and direct dealings with private Iraqi banks, amid efforts to enhance the financial and cash balances of Iraqi banks and attract foreign capital.
Iraqi banks are facing major challenges against the backdrop of sanctions imposed by the US Treasury Department on 24 banks, banning their cash transactions in dollars, to limit currency waste and suspicious transfers. This ban affected banking services inside Iraq, which prompted the Central Bank of Iraq to issue its latest instructions to return to Law No. 4 of 2010, which stipulated the approval of one or more qualified shares for joint-stock banks, on the condition that this joint-stock bank be monitored by the central bank in its home country. Which contributed to opening the way for Arab and foreign banks to open their financial credits and cash investments with a number of Iraqi private banks.
The volume of external transfers to Iraqi banks and banks, directly or through correspondent and joint-stock banks, amounted to approximately 265 million dollars per day, by purchasing the dollar through the currency selling window at the official price of 1,310 dinars per dollar, while no official statistics were issued on the size of the cash masses that were pumped to buy. Shares in Iraqi banks.
In details, the Central Bank of Iraq recently granted four new licenses to Jordanian banks, namely the Union, Housing, Jordan, and Arab Banks, and they were preceded by other licenses to Arab and foreign banks according to investment ratios contributing to the Iraqi private banking sector.
A local newspaper published that the share of Arab banks in the National Bank of Iraq amounted to 76.7 percent of the bank’s shares, while the share of the Jordanian Capital Bank reached 61.85 percent, the share of Cairo Amman Bank reached 9.90 percent, while the share of the Palestinian Arcadia Investment Fund reached 5 percent. This comes amid the efforts of the Jordanian Housing Bank to buy a stake in the Iraqi Al-Mansour Bank, to which Qatar National Bank contributed 54 percent. Earlier, the Jordan Kuwait Bank announced the signing of the agreement to purchase a 51.79 percent stake in the Bank of Baghdad’s shares.
Opportunities for acquisition
The financial and banking expert, Abdul Rahman Al-Sheikhli, said that there are no specific numbers about the volume of Arab and foreign investments in Iraqi banks, but the Central Bank of Iraq has given foreign and Arab banks opportunities to acquire large shares in Iraqi banks at a rate of more than 50 percent.
Speaking to Al-Araby Al-Jadeed, Al-Sheikhli stated that the goal of the Central Bank of Iraq in granting contributions at high rates is to try to bring non-Iraqi capital to the sector. He added that Arab countries' investment in Iraqi banks is large, amid contributions from Jordanian, Kuwaiti, Qatari and Emirati capital.
He pointed out that the Central Bank of Iraq's invitation to foreign banking investments came due to the migration of Iraqi capital abroad and the smuggling operations resulting from the financial and administrative corruption that has spread throughout the entity of government institutions. He added that the lack of cash liquidity in banks is due to the loss of citizen confidence in the Iraqi banking system, specifically private banks, which prompted the necessity of bringing in foreign investments.
New investments support Iraqi oil.
Al-Sheikhli explained that Iraq today is witnessing relative stability in the political, security and economic system, and the investment environment has become safe and attractive for investment, especially after the emergence of real projects in the country, whether governmental or within the private sector. Al-Sheikhli stressed the importance of using foreign investments, which will contribute to creating additional resources away from the oil that Iraq has relied on over the past years.
The US sanctions imposed on private Iraqi banks and the restriction of dealing in foreign currencies gave the opportunity to foreign and Arab banks that hold accounts with international and American banks to contribute to the market share in Iraq in a very large proportion. Financial expert, Safwan Qusay, said that reconsidering restricting the movement of these Iraqi banks would prevent the monopoly of foreign banks operating in Iraq, which hold large accounts and credits with Iraqi banks at a rate exceeding 49 percent of the capital.
During his conversation with Al-Araby Al-Jadeed, Qusay stressed the necessity of protecting the financial system and providing an integrated banking system that relies on reviewing the policies of the Central Bank of Iraq by preventing monopoly operations on the sale of foreign currencies, including the dollar. Qusay stressed the importance of lifting the sanctions and restriction system and replacing it with the correction system, and guiding the restricted banks to enhance their ability to comply, meet the needs of customers, know the movement of the Iraqi dinar, and invest in technology. He pointed out the need to review the mechanism for obtaining the dollar and the share of foreign banks from it.
Ariel @Prolotario1
-- What does the parallel rate reaching parity with the official price set by the CBI mean?
The reason you all have not seen a reinstatement of the IQD on the Forex Market is because the black market rate was artificially suppressing the value of the national currency due to the speculation in that area.
This means in the parallel market, the exchange rate for the IQD against the USD is often higher than the official rate set by the central bank. This discrepancy is driven by supply and demand dynamics, where limited access to foreign currency through official channels forces businesses and individuals to seek dollars in the parallel market at a premium.
Now that there is basically only one set price across the board. No one is going to have enough incentive in any market to resort to using the rate in the black market due to the lack of currency in the local Iraqi markets. Now businesses can actually be more transparent. More secure. And more reliable to not only the local market but the international market as well.
This will give confidence in businesses across the world to do business with Iraq. Which of course by default will increase investment in their country. Thus giving the Iraqi Dinar more value as time goes on making it a premier country to do business with on every level.
Traders in the parallel market were hoarding foreign currency, anticipating further depreciation of the IQD. This speculative activity was exacerbating the disparity between the parallel and official rates. But now this has come to an end. And now the citizens will have more of a reason to stop hoarding currency and bring it to the banks so the new currency can be issued.
Which of course will need an exchange rate to accompany the new buying power that will come with the volume of new currency needed in order to maintain and eventually move past the current rate due to all the new business contracts.
This is like a cosmic alignment that took place that was centuries in the making. You have no idea how close we are to now seeing the new exchange rate. This was the very thing that caused such a long wait. Now that it is a foregone conclusion. Many of the projects that were stalled in Iraq can move forward.
Which makes the approval of the budget more exciting than ever before since anyone has been in this investment. But another notable thing to this equation is the fact that America is now a Tier+1/Tier-0 country. Which means the international transactions speed of trade on an international and local level will be instantaneous. The timing of this couldn't have been more perfect.
"On February 15, 2023, the Securities and Exchange Commission adopted rule amendments to shorten the standard settlement cycle for most broker-dealer transactions from “T+2” to “T+1,” subject to certain exceptions. The compliance date for the rule amendments is May 28, 2024, at which point the standard settlement cycle will be T+1. The SEC’s Office of Investor Education and Advocacy (OIEA) is issuing this Investor Bulletin to explain the new “T+1” settlement cycle and how it will affect certain transactions you place with your brokerage firm."
https://x.com/Prolotario1/status/1795142088314511410
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