China displaces European companies from Iraq's energy sector, 11 JUNE

 China displaces European companies from Iraq's energy sector

The Iraqi government is setting increasing the country's oil reserves to more than 160 billion barrels, a strategic goal for the next stage, on a strong path to support its steps in terms of ongoing economic reforms, and support its ability to achieve sustainable development and improve its economic reality.

Iraq has high hopes for its crude oil exports, especially with the formation of more than 90 percent of the Iraqi budget revenues, which prompted it to launch a set of projects to increase production and open the way for investments in the field of oil and gas field exploration.

In this context, Chinese companies have emerged as a major player in the oil investment arena in Iraq, in contrast to the absence of American and European companies, through the acquisition of many new investments by a number of companies to explore oil and gas fields in Iraq, as part of the licensing round launched by the Ministry of Oil to develop the oil and gas sector in the country

RV/GCR Heading to the Launchpad: Prepare for a Currency Reset by AWAKE IN 3D, 11 JUNE

RV/GCR Heading to the Launchpad: Prepare for a Currency Reset

BRICS’ new currency will launch a global REVALUATION and challenge RESET the financial system once and for all.

The fiat currency financial landscape stands on the edge of a major shift with the potential for a significant revaluation (RV) and a global currency reset (GCR).

This transformative change is closely tied to the ongoing initiative by the BRICS Alliance to introduce a new gold-backed common trade currency.

The BRICS bloc is increasingly seeking to reduce its reliance on Western G7 currencies, particularly the US dollar, for international trade. The quest for economic sovereignty and financial stability drives these nations to consider a common trade currency.

A significant revaluation of currencies will be a key result of this initiative, profoundly impacting the global financial system.

In This Article

• Reducing Reliance on G7 Currencies
• The Inadequacy of Existing BRICS Currencies
• The Need for a Globally Acceptable Currency
• Integration into the Forex Market
• Benefits of Gold Backing
• 
  

Reducing Reliance on G7 Currencies

The dominance of the US dollar and the euro in international trade presents significant challenges for BRICS nations.

Dependence on these currencies exposes BRICS economies to the monetary policies and economic fluctuations of Western nations. This dependence often results in economic instability, as decisions made by the Federal Reserve or the European Central Bank can have far-reaching, negative effects on BRICS economies.

For instance, interest rate hikes in the US can lead to capital outflows from BRICS nations, causing currency devaluations and economic turmoil.

A common trade currency would mitigate these vulnerabilities, providing BRICS members with greater control over their economic destinies and reducing the influence of G7 monetary policies on their economies.

The Inadequacy of Existing BRICS Currencies

None of the individual BRICS currencies—the Chinese yuan, Russian ruble, Indian rupee, Brazilian real, or South African rand—have the global acceptance or liquidity of the US dollar or euro. Each of these currencies has its own set of challenges, including limited international use, lower levels of liquidity, and susceptibility to domestic economic issues.

Relying solely on a basket of these currencies would not solve the problem, as these currencies lack the widespread use and trust needed for efficient international trade.

Additionally, the volatility and varying economic policies of the BRICS nations can lead to instability in the value of these currencies, making them less reliable for international transactions.

The Need for a Globally Acceptable Currency

For BRICS to enhance trade efficiency and efficacy, a new, globally acceptable currency is essential.

This common trade currency (CTC) would be used by all BRICS members for trade among themselves and potentially accepted by many non-BRICS countries, promoting smoother and more reliable cross-border transactions. The CTC would serve as a stable and reliable medium of exchange, reducing transaction costs and exchange rate risks associated with using multiple currencies.This stability would encourage more countries to engage in trade with BRICS nations, fostering economic growth and cooperation.

Establishing a New Central Bank and Clearing House

To manage the new currency, BRICS would need to establish a central bank facility dedicated to the CTC. This institution would oversee the issuance and regulation of the currency, ensuring its stability and trustworthiness.

The central bank would implement monetary policies to maintain the value of the CTC and manage its reserves of gold and BRICS currencies.

Additionally, a central clearing house similar to the Bank for International Settlements (BIS) would be necessary to facilitate efficient and secure transactions. This clearing house would act as a financial intermediary, ensuring that cross-border transactions are settled smoothly and reducing the risk of fraud and financial mismanagement.

The Structure of the Common Trade Currency

To ensure high fungibility and acceptance, the proposed CTC would be backed by 40% gold and a basket of major BRICS member currencies. This backing would lend stability and credibility to the CTC, making it an attractive option for international trade partners.

Gold, a universally recognized store of value, would enhance the currency’s stability, while the inclusion of BRICS currencies would reflect the economic strengths of the member nations.

The 40% gold backing would provide a solid foundation for the CTC, reducing the risk of inflation and currency devaluation.

The remaining 60% would be backed by a diversified basket of BRICS currencies, ensuring that the CTC reflects the collective economic power of the member nations.

Attracting Non-Member Nations

The gold-backed CTC would appeal to many countries outside the BRICS bloc, except for G7 nations like the US, EU, England, and Canada, which may resist such a shift.

The stability and value offered by gold backing would make the CTC an attractive medium for trade, enhancing its acceptance and use worldwide.

Non-member nations, particularly those in developing regions, would find the CTC to be a reliable alternative to the volatile G7 currencies, fostering economic ties with BRICS nations and reducing their reliance on Western financial systems.

Integration into Forex Markets

The CTC would soon find its way into the Forex market, further solidifying its acceptance and convertibility.

As a stable and reliable currency, it would offer an alternative to the volatile and inflation-prone fiat currencies of the G7 nations.

The integration of the CTC into Forex markets would provide traders and investors with a new instrument for hedging and investment, increasing its liquidity and global acceptance.

Over time, the CTC would become a significant player in the global currency market, challenging the dominance of the US dollar and euro.

Benefits of Gold Backing

Backing the CTC with gold would provide significant advantages.

Gold is a stable store of value, which would reduce inflation and offer superior stability compared to major G7 fiat currencies. The gold backing would make the CTC a reliable hedge against economic uncertainty, attracting international confidence and FDI (Foreign Direct Investment).

Historically, gold has been seen as a safe haven asset during times of economic turmoil. By backing the CTC with gold, BRICS nations can ensure that their currency remains stable and retains its value even during global financial crises.

Stronger BRICS Member Currencies Drives the RV/GCR

A crucial benefit of the Common Trade Currency (CTC) is the significant revaluation (RV) and global currency reset (GCR) it would trigger for BRICS member currencies.

By linking their currencies to a gold-backed CTC, BRICS nations would experience a substantial appreciation (RV) in their exchange rates against G7 fiat currencies.

This revaluation would be driven by the intrinsic value and stability provided by the gold backing, enhancing the global standing of BRICS currencies.

The RV and GCR process would logically unfold as follows:

1. Gold-Backed Stability: The gold component would provide a stable foundation, reducing inflation and increasing confidence in BRICS currencies. Investors and global markets would recognize the inherent value of a currency backed by a tangible asset like gold.
2. Increased Demand: As the CTC gains acceptance in international trade, demand for BRICS currencies would rise. This increased demand would naturally lead to an appreciation of their values.
3. 
   
4. Market Adjustments: Forex markets would adjust to the new reality of a stable, gold-backed currency. Traders and investors would shift their portfolios to include more BRICS currencies, further driving up their values.
5. Global Acceptance: The widespread acceptance of the CTC would reduce the dominance of the US dollar and euro. As more countries and businesses start using the CTC, the reliance on G7 currencies would diminish, causing a shift in global currency dynamics.
6. 
   
7. Economic Benefits: The strengthened exchange rates would lead to lower import costs for BRICS nations. This reduction in costs would increase the purchasing power of BRICS citizens and businesses, fostering economic growth and development.
8. Long-Term Stability: The consistent value provided by the gold backing would ensure long-term stability for BRICS currencies. This stability would attract further investment and trade, reinforcing the positive cycle of currency revaluation and economic growth.

Overall, the introduction of a gold-backed CTC would not only stabilize and strengthen BRICS currencies but also initiate a broader RV and GCR across the global financial system against all purely fiat currencies.

This strategic move would reduce dependence on G7 fiat currencies, enhance the economic sovereignty of BRICS nations, and contribute to a more balanced and multipolar global economy.

The Bottom Line

Introducing a common trade currency backed by 40% gold and a basket of BRICS member currencies is a strategic move that could transform international trade for BRICS nations. It would provide economic stability, reduce reliance on G7 currencies, and enhance the global standing of BRICS economies.

The creation of this new currency, supported by robust financial institutions, would mark a significant step towards a more balanced and multipolar global financial system.

The resulting RV of BRICS currencies would have far-reaching implications, including the rapid adoption of gold-backed currencies and the hyperinflation of any remaining fiat currencies – a planet wide GCR.

🔥 Iraqi Dinar 🔥Focus On New Exchange Rates, Lower Notes, and Economic T...

"SECURITY & STABILTY STAND SHOULDER TO SHOULDER!!!" BY FRANK26, 11 JUNE

 KTFA

FRANK26: "SECURITY & STABILTY STAND SHOULDER TO SHOULDER!!!"...........F26

Al-Sudani: The government has provided a safe investment environment and financial and banking facilities that are attractive to experienced companies

6/9/2024

Prime Minister Muhammad Shiaa Al-Sudani confirmed that the government has provided a safe investment environment, and financial and banking facilities that are attractive to experienced companies, which opens horizons for continuous cooperation, reflects positively on the local economy, creates job opportunities, and maximizes Iraq’s oil resources, in light of The goal of converting at least 40% of Iraq's oil exports into derivatives and refining products, in addition to gas investment.

A statement from his media office said that today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani, Chairman of the Board of Directors of Al Hilal Companies, Mr. Hamid Jaafar, and his accompanying delegation, indicating that the meeting witnessed a review of the progress of work in the projects undertaken by the company in Iraq, especially the company’s project within the fifth round of licensing.  In addition to confirming the government’s vision to expand productive partnerships with companies and regional and international economic groups, in cooperation with the Iraqi private sector, within the government’s platform for economic reform.

For his part, Hamid Jaafar expressed his appreciation for the government’s steps in facilitating all aspects of fruitful work, and the Prime Minister’s directives to remove obstacles and impediments that hinder the work of investment companies, and to prepare everything that would raise levels of cooperation.

LINK

"THE DINAR AGREEMENT BETWEEN IRAQ AND UNITED STATES" BY STARR FROM GINGER TELEGRAM ROOM, 11 JUNE

 STARR KARLOSKI

The Dinar Agreement,

 a significant deal between Iraq and the United States, is part of the broader framework of the U.S.-Iraq Strategic Dialogue aimed at enhancing bilateral cooperation across various sectors. This agreement encompasses several key areas:

 Economic and Financial Reforms: The United States is assisting Iraq in reforming its financial and banking sectors to combat corruption, money laundering, and to better integrate with the international economy. 

This includes transitioning Iraqi banks from the traditional wire auction mechanism to direct correspondent relationships with international banks by the end of 2024​ (The White House)​​ (State Gov)​. 

EEnergy Sector Development: Iraq is working towards energy self-sufficiency with support from U.S. companies. Efforts include modernizing the energy sector, reducing methane emissions, improving electricity reliability, and completing electrical grid connections with neighboring countries.

 This initiative also aims to capture flared gas and reduce dependency on energy imports from Iran, potentially saving Iraq billions annually​ (The White House)​​ (United States Institute of Peace)​.

 Security Cooperation: The agreement emphasizes the need for Iraqi security forces to independently ensure the country’s security, aiming to prevent the resurgence of ISIS.

 The establishment of the Higher Military Commission (HMC) in August 2023 aims to transition from a coalition-based security framework to bilateral security relations between Iraq and the United States​ (State Gov)​​ (United States Institute of Peace)​.

 Regional Integration: The United States supports Iraq in strengthening its relations with regional and international communities to enhance security, stability, and prosperity. This includes efforts to integrate Iraq's economy with the broader Middle East and support democratic processes within the country, including in the Kurdistan Region​ (The White House)​​ (State Gov)​. 

Overall, the Dinar Agreement reflects a multifaceted approach to fostering a stable, sovereign, and economically integrated Iraq, building on longstanding strategic partnerships and shared goals between the two nations. sources used: http://whitehouse.gov/briefing-room/statements-releases/2024/04/15/joint-statement-from-the-leaders-of-the-united-states-and-the-republic-of-iraq/… http://state.gov/joint-statement-on-the-u-s-iraq-strategic-dialogue/… http://usip.org/publications/2024/04/baghdad-ready-new-chapter-us-iraq-relations…

1:58 PM · Jun 10, 2024

Iraqi dinar | IMF Statement | Iraqi Dinar News Today 2024 | dinar news

"MONETARY REFORM SECURITY & STABILITY!!!" BY FRANK26, 10 JUNE

 KTFA

FRANK26:"MONETARY REFORM SECURITY & STABILITY!!!"............F26

The local government in Mosul calls for allowing exchange companies in Nineveh to enter the dollar selling window

6/8/2024

The local government in Nineveh announced that it will approach the Central Bank of Iraq and the Prime Minister's Office in order to allow banking companies in Nineveh to enter the currency selling window.

Abdul Qadir al-Dakhil, Governor of Nineveh, said in a statement to the National Iraqi News Agency ( NINA ) that he "met with a number of owners of banking companies, and that it is unreasonable for Nineveh to remain alone without banking companies, indicating that this affects the economic situation in the province."

For his part, the head of the The Association of Banks in Nineveh Abdullah Khalil said in a statement to Nina that “Nineveh is still denied entry to the dollar selling window despite taking all the measures and instructions imposed by the Central Bank.”

He explained that “Nineveh’s entry into the window will give the people the right to obtain the dollar at the Central Bank’s price similar to that.” In the rest of the governorates.”

LINK