Thursday, May 30, 2024
"THE WORLD TRADING MAP IS CHANGING RAPIDLY" BY GOLDILOCKS, 30 MAY
GOLDILOCKS
"Thailand will apply to become a member of the BRICS economic bloc, the government of the Southeast Asian country announced on Tuesday."
To give you an idea how important this move is. Vietnam is the largest trading partner with Thailand at the present time. This could shift when they become a market economy in July adding to the ability to trade with the US as well.
It is just simply important to note that the world Trading Map is changing rapidly. As we have discussed before, 80% Plus trades are done across the waters. This is more than enough of a percentage to change exchange rates on a global scale.
This is also why the World Trade Organization is reconfiguring trade exchange rate percentages and plans on presenting them to us the second half of this year.
Watch the water.
© Goldilocks
https://www.bignewsnetwork.com/news/274388060/brics-receives-new-membership-bid#google_vignette
https://www.trade.gov/country-commercial-guides/vietnam-trade-agreements#:~:text=Since%202022%20Vietnam%20is%20also,Philippines%2C%20Singapore%2C%20and%20Thailand.
"ABOUT THE IRAQI BANKING SYSTEM" BY GOLDILOCKS, 30 MAY
GOLDILOCKS
The Iraqi banking system may soon receive banks of another type called (digital banks). What are these banks and will the citizen, the banking system, and the Iraqi economy benefit from them? Files that the beneficiary of the banking sector services in Iraq is trying to ask.
https://economy-news.net/content.php?id=43770
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International Monetary Fund mission for the current year 2024 for Article Four consultations praised the Iraqi government’s measures, including the monetary policy led by the Central Bank of Iraq.
The report indicated that the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation.
Adding that the Central Bank raised the interest rate on monetary policy tools from 4% to 7.5% and increased the mandatory reserve requirements for banks from 15% to 18%, and these steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating an economic environment. More stable.
The report emphasized that important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.
The report noted that Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, as well as the role of the Central Bank of Iraq in expanding relations. Correspondent banking, to facilitate smoother international trade financing operations.
Central Bank of Iraq
Information Office
May 27, 2024
https://cbi.iq/news/view/2592
Kurdistan Natural Resources confirms: We are ready to visit Baghdad again to resume exporting the region’s oil, 30 MAY
Shafaq News/ The Ministry of Natural Resources in the Kurdistan Regional Government confirmed, this evening, Wednesday, its readiness to visit the capital, Baghdad, again to solve the problem of resuming the export of the region’s oil, in cooperation with the Federal Ministry of Oil.
The ministry said in a statement received by Shafaq News Agency, “We supported from the beginning resolving the issue as quickly as possible and exporting oil (Kurdistan Region oil) through international ports. For this purpose, we visited Baghdad several times, and in January of this year we met with the head of the committee.” Finance and the Federal Government Committee consisting of the Ministries of Oil, Planning and Finance, and a report was signed in this regard.”
She added, “The committee last met on the 19th and 20th of this month in the presence of representatives of the Ministry of Natural Resources. We are now awaiting the results of the committee meeting, and are ready to visit Baghdad next week to resolve this issue.”
Yesterday, Tuesday, the Federal Ministry of Oil, the Ministry of Natural Resources and companies operating in the Kurdistan Region called for an “emergency” meeting in the capital, Baghdad, for the purpose of accelerating the restoration of production in the region’s fields.
Federal Oil said in a statement received by Shafaq News Agency, that it is keen to restore production in the fields located in the Kurdistan Region and resume exports through the northern system in a way that provides the national interest.
The Ministry called on the Ministry of Natural Resources in the region and the international companies operating the fields located in the region to hold a meeting in Baghdad as soon as possible for the purpose of discussing and discussing the issue and reaching an agreement to accelerate the restart of production and resume the export of oil produced through the Turkish port of Ceyhan and according to the quantities specified in the budget law.
"RV UPDATE" BY MILITIAMAN, 30 MAY
Militia Man
If you raise the value of the currency it's going to have a ripple effect...Instead of being a pebble...or a brick in the pond this might be a boulder. There's going to be some waves. The World Bank, IMF, US Fed, US Treasury...Bank of International Settlements, everybody's going to need to know what you're going to do and when you're going to do it and pretty close.
They're not going to be broadcasting it like everybody thinks, 'What's the date and what's the rate?' That's not how it works. But we study it close enough to where...we can see it can't be far off...
If they're going to have liquidity and they don't have it now it's going to require new small category denominations to be in circulation. Just as al-Alaq's project to delete the zeros would require new denominations. Did they do that in 2018 and have them in storage? I believe they did...
They increased that gold supply by about 40 tons...Their currency reserves are around $110 billion. They have a massive amount of wealth. They have the ability to support their imports for about 16 months they say, which is about 5x what they need. That's important. They don't want to reduce those. They'd like to keep them on hand...Iraq has a good foundation for Alaq to do what he's supposed to do and it'll only get better if he does.
If they change the value of their currency they're going to have more surpluses...The oil price is about $70 in the 2023 budget. That hasn't changed for '24 or '25 because that's a tripartite budget. They got a surplus. Oil is somewhere around $80. It's been as high as $91ish. The expectations of oil is to be somewhere in the neighborhood of $80/$90 and they even talk about $100/barrel...Iraq is going to be sitting pretty good...They have phosphates...sulfur...natural gas...Those non-oil revenue streams...taxes and tariffs are going to come online...Iraq has a good foundation for Alaq to do what he's supposed to do.
Iraq is moving forward. They've got huge reserves...increased their gold, they're going to have the private sector, their stock exchange is going to be one to reckon with. It's an emerging market and a lot of money is going to be start flowing...
If they go on the Forex system it's going to be international. It's going to be fast and furious.
Could they do something within the county prior to that?
Sure, why not, educate the citizens, do what they got to do...
THE CURRENCY AUCTION WILL END THE DAY THAT THE RATE CHANGES BY JEFF, 7 OCT
Jeff Article: " Iraq presents to the US Treasury date for abandoning the currency auctions " The auctions will end or be...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...