Much has been made of the number 90 Trillion. This is the alleged number of Dinar at large...I do not believe this number is valid and here's why. 1) There are always casualties such as fire & natural disasters. 2) We know there has been an effort, for years, to coax three zero notes out from under mattresses, with some success. 3) We know stolen Dinar have been recovered in very large amounts recently. 4) Here's the biggie: I saw a video some years back, where a jet was seized attempting to leave the country, and it was stacked from floor to ceiling with coffin sized cases full of Dinar.
It had to be trillions. Much to my surprise, the jet was eventually cleared to take off. However, it was no surprise to hear the jet was registered to Nuri Al Maliki. The jet landed in Zurich Switzerland where it was then seized and the Dinar confiscated. Some may remember an article stating that Switzerland repatriated a large number of Dinar to Iraq but the article was scant on details. When one considers all these scenarios, it would seem that there is far less Dinar in circulation that 90 trillion. It may well be half that amount. IMHO.
There is NO NEED for an NDA, whatsoever, unless you were a participant in the Private Placements, which were concluded in 2011. The only people who otherwise hold NDAs are bank presidents, branch managers, and of course any of the three letter agencies necessarily involved, such as the UST...
There are several regiments to float a currency: FREE FLOAT - The currency's value is determined solely by supply and demand in the market...MANAGED FLOAT - Similar to a free floating...but a government intervenes by buying or selling its own currency to minimize fluctuations.
CURRENCY PEG - The currency's value is pegged to a basket of currencies or to another country's currency. EUROPEAN SNAKE [In The Tunnel] - Beginning in mid-1972...Each country agreed not to allow its currency to fluctuate more than 1 1/8% up or down from an agreed central exchange rate.
I doubt they still call it "The Snake" but that is the method used to if one wishes to participate in the IMF baskets...
The Dinar will use the European Snake method of floating the currency because it only allows for a 1 1/8% fluctuation up or down thus providing the maximum stability. The currency will open with it's permanent value, more or less, and then over time, it may be allowed to adjust one and one-eighth percent either way...
Shafaq News/ Iraq’s parliament is poised to approve the 2024 budget on Monday after incorporating adjustments following discussions with the government, parliamentary sources said.
The initial proposal by Prime Minister Mohammed Shia al-Sudani set total spending at 211 trillion dinars ($142 billion), with 62 trillion dinars allocated for employee salaries. This is up from the 2023 budget of 199 trillion dinars ($134 billion).
Estimated revenues stand at 144.336 trillion dinars ($97 billion), while expenditures are projected to reach 210.936 trillion dinars ($142 billion), resulting in a deficit of 63.599 trillion dinars ($43 billion).
Parliament’s finance committee is finalizing a report on the budget after lawmakers raised concerns about spending allocations.
“There are numerous parliamentary observations on the budget tables,” said lawmaker Thaer al-Jubbouri from the State of Law bloc. “The committee is working on adjustments with the finance ministry.”
He said the Kurdistan Regional Government’s share would remain unchanged, but adjustments would be made to ensure fair treatment for central and southern governorates.
A political consensus is needed before a vote, said Mustafa al-Karawi, a member of the finance committee.
“We’re waiting for agreement on the final report before proceeding,” he said. Proposals include financial transfers and expenditure adjustments to reduce the deficit.
The committee previously confirmed it has no intention of returning the budget to the government.
💥It’s the budget SCHEDULES Iraq is voting on tomorrow
💥The three year budget “Tripartite budget 2023-2035” was approved June 2023 with a rate of 1310 IQD in the budget
💥💥PLEASE stay grounded and don’t believe the hype of goorooz saying there will be a rate change tomorrow…. Fake news
💥💥💥Please stay grounded in the facts we provide , watch as the global process unfolds.
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@JesterTN the call you and I had yesterday with @authorsamoliver and you mentioned what’s happening with the banks 🏦 Goldilocks just dropped an article which confirms the information you got from the US Treasury Department BOOM 💥
Will cover on SNL
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FOLKS
When you see ( Credit Valuation Adjustment) that’s another term for adjusting the price of an asset….. or “revaluation of an asset to its real value”
What’s an asset ? Currencies, precious metals, crypto currencies etc
ITS IN RESEARCH PHASE
🟢Think of a home appraisal. The Appraiser comes to appraise the home at its true market value. Same thing with other assets
Al-Aboudi: The decision to end UNAMI’s mission in Iraq is a big step towards full sovereignty
Member of the General Authority of the National Wisdom Movement, Rahim Al-Aboudi, considered the decision to end UNAMI’s mission in Iraq a big step to prove complete sovereignty.
Al-Aboudi said {to Al-Furat News} that: “The United Nations is looking with another eye at Iraq and is following up on all political, security, social and economic activities. Therefore, this transition is a merit of the Iraqi people and political forces.” He added, "The government had a major role in this transition, and it is a major step to prove that Iraq has a different title and status and the need for complete sovereignty and dealing with the country on the basis of this entitlement."
Al-Aboudi continued, "Iraq adopted many decisions, as well as many foreign relations, whether at the level of Middle Eastern countries or countries of the world, in order to have a different role in the next stage."
He stated, "This decision has become an important responsibility for the government to affirm the right of the Iraqi people to be a growing and prosperous country. Today, Iraq is adopting a policy of calm in the region and proving itself."
Yesterday, Friday, the UN Security Council decided to withdraw the United Nations Assistance Mission for Iraq (UNAMI), which has been in the country for more than 20 years, by the end of 2025, at the request of Baghdad.
The unanimously adopted resolution stipulates extending the mandate of the mission, which was established in 2003, “for a final period of 19 months until January 31, 2025.”
The Iraqi government welcomed the UN Security Council's decision to end the mandate and tasks of the United Nations Assistance Mission for Iraq. link
WHERE TO PARK FUNDS SET ASIDE FOR TAXES, MISC NOTES
While not every Mutual Fund Money Market Fund is not insured above the $250k FDIC limits there are some that have excess coverage.
A Wealth Management Money Market Account ensures every act up to the 250K limit per depositor, they also have a proviso that each and every trust or discretionary Asset Management
Account to a maximum limit is equally insured to that limit.
Asset Management Accounts in excess of the FDIC limit are required by statute to be fullY collateralized with securities owned by the bank. The collateral consists of very high-quality fixed income securities mostly federal agencies that are held in a segregated account at a different
National Bank.
The funds held in these types of accounts have a completely different method of computing interest. than the average MFMA including the money net fund average, the GIA (government institutional account) current yield plus 4-week average rate multiplied by a 1.03 factor to determine the effective rate of interest.
I personally do not feel there will be any tax which will be my argument for them to prove me wrong, this IS based upon my understanding of the code, but that's just my opinion. One of the more successful of these accounts is offered by the Private Bank and Trust Company in Chicago, Illinois, have been familiar with them for years and never been disappointed.
If one reads the exchange foreign currency provisions, it mentions a dollar amount more than X upon returning through customs and declaring, how many purchased currencies offshore?
Normally do not go through customs upon entering a bank lobby but then that's just me. For those that follow FEMA and their emergency relief efforts have you ever wondered why they
show up after huge losses and give away low cost or zero cost money?
It has been actuarially determined that every dollar given in a particular disaster will result in that dollar being taxed an average of 8 times before it departs the disaster area - ergo a net gain for the treasury.
Now take the level of revenue suddenly being introduced and use the same factor as FEMA and try to calculate the net value to the treasury. Now do this on a national level vs say New Orleans or Baton Rouge during floods or hurricanes and the value is almost incalculable.
I suggest you do a google search on the Honest Service Doctrine and keep in mind if you see new laws suddenly appearing, just a thought. It will be my plan to hold a certain amount of interest pending the final determination of any tax liability. However, I will use every means available to hold any amount due to an absolute minimum.
Having the level of regard, I possess for our politicos I am more confident in the written word as it is expressed in Title 26 and 27 and the ultimate request to produce that specific section that is applicable. Federally can only be done for one year as you have expo facto concerns not at all
certain how a state could do this unless their legislation is only in session every other year like Texas but then we do not have a state income tax liability. If you really wish to make it interesting, you might wish to investigate the Volstead Act and all its applications.
With all the discussion about what to tell a banker, how to best represent yourself before the individual conducting the exchange, I know the bank that will ultimately control the funds I will receive so I have made it a point to become known on a first name basis with all the officers and
they know me and many of my beliefs relative to assisting my community, plan on dropping their names at the exchange Point being people within the bank who can confirm sincerity of my desire to promote community improvement may have an impact on the stranger performing the exchange should they wish to contact the local VP of commercial loans or a personal banker
working for the very same institution.
As I recall you have a significant travel time from domicile to bank but if you are dealing with folks within your area who are most familiar with your involvement who are in a position of notice you might ask for a letter of introduction to whomever as an FYI that this individual is worth any
consideration the new banker might provide I counsel college students and we have learned to complete a resume of all the community assistance programs they have involved themselves with above the academic GPA as during their job interviews companies are more interested in actions taken above the normal college experience and it has tended to get these folks hired at an above average rate.
A consideration is to put together a list of those familiar with your activities as well as your character and ask for their permission to use their name and contact permission for
banker in the new city to check your references As an aside for all who have kids or grandkids in college,
if they assist with the food bank, habitat for humanity, youth councils, or other community non-profits while in college these agencies will provide a Certificate of Appreciation for each event they participate and the student creates a portfolio including all these certificates and takes along on their job interviews. Amazing results.