Thursday, May 30, 2024
Wednesday, May 29, 2024
Iraq calls for Arab stand to halt Israeli war on Gaza, 30 MAY
Iraq calls for Arab stand to halt Israeli war on Gaza
Shafaq News / On Wednesday, the Iraqi government called for an Arab and regional stance to stop Israel's ongoing war on Gaza while also commending the countries that have recognized the State of Palestine.
In a statement, government spokesperson Basim Al-Awadi said that the Iraqi government is closely monitoring the situation in Gaza and the occupied Palestinian territories, especially the recent escalation of Israeli aggression in Rafah, which has resulted in the deaths of unarmed civilians.
He stressed, "This situation necessitates an extraordinary Arab and regional response and demands that the international community and its organizations take responsibility and intensify efforts to stop the criminal bloodshed of the Palestinian people."
"Iraq calls for a responsible Arab, Islamic, and regional movement at both the popular and official levels, leveraging every influential voice to pressure for an end to the blatant disregard for international and humanitarian norms. Such a movement is crucial to preventing what amounts to a full-scale genocide and to stop the region from spiraling irresponsibly into endless violence."
Al-Awadi also praised the recent recognition of the State of Palestine by several nations. He described these actions as "a clear rebuke to the policies of some international powers that have either supported or remained silent on the aggression and even justified the crimes committed."
The Iraqi government reiterated its support for the Palestinian cause and urged all relevant international bodies and governments to facilitate medical, food, and humanitarian aid efforts immediately.
This statement from the Iraqi government followed a televised speech by Muqtada al-Sadr, leader of the Patriotic Shiite Movement (PSM), who criticized American promises and democracy as being "hypocritical." Addressing Israelis and Americans, he said, "Your days are numbered."
Al-Sadr also condemned those who claim to support humanity while backing "Israeli terrorism" in Gaza.
Notably, health authorities in Gaza reported that nearly eight months of intense Israeli strikes have resulted in the deaths of over 36,000 people, more than a third of whom are children.
Israel's ongoing conflict in Gaza has significantly damaged its international image and has brought unprecedented confrontations with the International Court of Justice and the International Criminal Court.
"RV UPDATE" BY PIMPY, 29 MAY
Pimpy
Article: Central Bank of Iraq quote "There are no current plans to print new currency."
What that tells me is people don't have to worry about a lop or redenomination because in order for you to have a redenomination or a lop you have to create new currencies. It also tells me they're not creating the lower denominations which means they're going to stick with the currency they currently have. Some people see this as the glass half full. Some people look at it as the glass is half empty.
I agree it's going to happen. I don't have doubt about that. I'm just keeping an eye on whether or not they want to delete the zeros. If they go to a free floating market hopefully there won't be...deleting the zeros and we'll see the exchange rate go up pretty quick before they have time to respond...
Iraq was already a member of the World Trade Organization. They are going through the ascension process for a second time. That's because all the rules, regulations, understandings and business practices...changed once the fall of Saddam Hussein. Now we have to make sure all their practices, rules and regulations regarding trade line up once again with the World Trade Organization. Iraq has been a member of the World Trade Organization since 2004. This is their second time throughout the ascension process...
There's this misconception that the World Bank, IMF and the BIS get to tell countries what to do. They don't...They facilitate. They make recommendations but they don't control a country's bank...
Another budget is getting ready to come and go and there is no talk of the rate change. Isn't that what they told you? It would be in the new budget because there was no way for them to do large projects, there was no way for them to move forward without an exchange rate change...Why so secret now? Is this one of those things they're trying to keep from the people?
They didn't keep it from the people last time [they increased the value] and there's no mention of it this time...Keep your fingers crossed, it hasn't passed yet so maybe they'll change it between now and the time they pass it...You guys know what I think.
Floating the currency means the value is determined by the market, so if people for whatever reason want to start investing in the Iraqi dinar and the start buying up the Iraqi dinar that means the demand for it is there, think supply and demand.
Since they have a liquidity issue, there's not going to have a lot of Iraqi dinar out there and if that's the case then they don't have the supply to feed the demand...But we'll be more than happy to sell our Iraqi dinar back to them if they get the exchange rate up around a quarter or more. I know I would.
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-pimpy-24-may.html
Baghdad Calls for Meeting to Resume Kurdistan Oil Exports, 30 MAY
By John Lee.
The Iraqi Ministry of Oil has said it is prioritising the resumption of oil production in Iraqi Kurdistan, and the export of oil through the Iraq-Turkey Pipeline (ITP), “in line with national interests“.
In a statement on Tuesday, the Ministry said it has invited the Kurdistan Ministry of Natural Resources and international oil companies (IOCs) operating in the region to a meeting in Baghdad to discuss and reach an agreement.
On Monday, the Association of the Petroleum Industry of Kurdistan (APIKUR)— a trade body representing a group of IOCs operating in Iraqi Kurdistan — hit back at media reports that it said, “mistakenly point to a lack of flexibility from IOCs as the reason for the continuing impasse on resumption of oil exports via the ITP. “
Following the Ministry’s announcement, APIKUR said: “We acknowledge the swift, public response from Iraq’s Ministry of Oil and look forward to scheduling joint discussions to restore oil exports through the Iraq-Türkiye pipeline.“
(Source: Ministry of Oil)
"RV UPDATE" BY MARKZ, 30 MAY
MarkZ
[via PDK]
“Futures slide as bond yields spike to a 3 week high” We are watching an inverted bond market. We are watching the short term bonds out bid and out earn the long term bonds. I was always told this is key to the reset and we are watching it live. This bond market is in shambles. I was always told to watch for this just before the reset…and to watch for the HCL law to be passed in Iraq. We are now watching them as we approach the finish line.
This is pure gold this morning… Article: “US Ambassador praises Iraq’s official adoption of E-Payment system” This particular US ambassador is well known as the “Ambassador of re-valuations” She usually gets sent to whatever country whose value is about to change. She is there in Iraq right now.
It certainly is a “push” ...They are talking about it openly in the Iraqi news. …They are blatant on this one “The impending rate change”. They are telling us what they are doing... Articles in Iraq say clearly that the dinar is going to be worth more than the US dollar.
[via PDK]
did hear some interesting things from military contacts. One in particular kinda surprised me overnight...don’t panic because they do their best to cloud the timing...He said “Do not worry- it will be before July 4th.” We will have it all before July 4th. Actually a couple military contacts gave me that same time frame. I still have great hopes for sooner...it is interesting they have plans to have it completed by July 4th…For all we know it could happen tomorrow…nobody knows the timing.
Out of Iraq – hearing we are supposed to be getting news on Sunday that has to do with the budget but since they have already passed it- does this mean we are getting a rate? Or which projects were executed or started? I do not know.
I am seeing rates of somewhere between $3.81 to $3.91 from a number of contractors working in Iraq. They are working on infrastructure - everything from hospitals to power grid to roads etc... And I am still thinking it will be $2 something on the dong. I hope I’m wrong and my contacts are right and it’s closer to the $3 mark.
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-markz-27-may.html
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