The Iraqi Securities Commission signed, today, Wednesday, the Agreement on the Guide to Environmental, Social and Corporate Governance with the International Finance Corporation (IFC) (a World Bank organization).
The Authority said in a statement received by {Al-Furat News} a copy of it, that: “The objective of the agreement is to promote and develop the investment environment in Iraq by improving regulations, environmental, social and governance frameworks to comply with international standards, enhancing the ability to implement and supervise its implementation in Iraq and contribute to increasing investment attractiveness in the Iraq stock market environment.”
She added, “To achieve this goal, coordination will be done with the Iraq Stock Exchange through the supervision of the Iraqi Securities Commission to develop the guide to environmental, social and corporate governance to support the improvement of the performance of listed companies, and put Iraq on the path towards a strong and sustainable economy, as the agreement included reaching a mandatory guide to apply to companies listed on the Iraq Stock Exchange.”
The head of the Commission, Faisal Al-Haims, said, “The preparation of a guide to social and environmental governance and corporate governance through a partnership with the International Finance Corporation improves the Iraqi investment environment by adopting international standards that evolve from the current investment environment in the Iraq Stock Exchange. Following the framework of environmental and social governance and corporate governance makes companies listed on the Iraq Stock Exchange more transparent and better performing, and be more attractive to foreign investments.”
He pointed out that “the topic of environmental and social governance and corporate governance will be a focus of the national strategy for investment awareness and support for the investment culture that the Authority is working on and will be announced in October 1 of this year.”
For his part, Aftab Ahmed, Regional Director of the International Finance Corporation for the Middle East, Pakistan and Afghanistan, said, “We are excited to partner with the Iraqi Securities Commission in this important initiative that aims to help companies and banks mitigate the risks of environmental, social and governance practices, improve long-term performance sustainably, as well as attract investment, and contribute to the sustainable growth of the stock market in Iraq.”
He pointed out that “during the process of preparing the manual, there will be workshops and meetings with relevant parties such as listed companies and brokerage companies.”
The Iraqi Securities Commission, as the regulator and monitoring stock activity and associated financial activities and services, seeks to increase the contribution of this sector to GDP and provide an investment environment that protects the rights of investors and other stakeholders.
FIREFLY:Parliament is saying we're going to pass the investment law. You're going to see it very soon...
FIREFLY: I talked to my bank friend...He said when we do drop the zeros, we the citizens will have a certain number of days to return for new lower currency. This will be the 1 to 1. Not 1 dollar for 1 dinar but 25k note for a 25 note. It will revalue in country above a dollar...We will probably see dinar in country just over $1.
FRANK: Now do you see why they kept it at 1320?
FIREFLY: The 1 to 1 will be dropping off the three zeros from our exchange rate, from our currency...a 25k note will be a 25 note...This is for inside of country, not outside of country.
IRAQ BIDS FAREWELL TO THE LIST OF “HIGH-RISK COUNTRIES”:
Yes, “the writing is on the wall” now as this is the BEST news of this period of my Newsletter as observers and specialists in political affairs expressed their optimism about Iraq’s exit from the list of “high-risk countries” that was officially announced by the International Task Force (FATF) last week. I quote from the article – “noting that the international declaration represents an important step in the correct path that the Sudanese government is taking in achieving reforms. Financial and economic along with political stability.” Iraq’s exit from the list of high-risk countries could not get any better. They are slowly clearing the way to the reinstatement, one obstacle at a time. This is yet another stop on our choo choo train that needed to be released. They were not about to release the currency back to FOREX with this in place. Get it? So this is all WOW! WOW! WOW! news for us today.
What can we investors do to help the RV situation?
We must now buckle down and pray and pray like never before for the success of Al-Sudani and his agreements with Washington are implemented. You do want the RV don’t you? Pray for Iraq and also the U.S. in that there are strong enough representatives in Congress and the Senate who will stand up and continue to fight to uphold the US Constitution and keep fighting this Washington corruption. Pray that that God’s Hand will intervene and save our great country. Remember you can say the Rosary daily or use the prayers and links I provided from the Auxilium Christianorum for your prayers. Folks your prayers so far ARE WORKING and God has heard your cries. Just look at all the progress made just since December 2022 when Iraq announced they were
finally entirely out of Chapter VII. And now the spigot is wide open the final issues preventing the reinstatement are being dealt with one by one. Can you see it too. I am trying my best to help you see it. We don’t’ need this foolishness of this everyday / any day garbage intel.
You think this is all just coincidental? God’s Hand is at work here. He has given Iraq his anointed leader Al-Sundani to help in this work. Even I have to sit back in amazement of what he has accomplished so far. Pray for him and all his success. It is June already and this month is proving to be a very significant month again. But my contact in the CBI told me there is a very high probability that we would see the currency swap out in this month of June and so we watch and wait. I will get more news tomorrow when I make my call to Iraq.
I need to clarify some more bullshit from the king of bullshitters TNT Tony. So, he strikes once again in defying odds that he could get any worst. I want everyone to know with absolute 1000% TRUTH that there is no “backscreen” trading going on with the Iraqi dinar to “bring the rate up equivalent to $3.91” as he says we are watching for, before they pull the trigger on the RV. Folks these kind of statements are utterly stupid and anyone bring this kind of “intel” to you should be banned because this is irresponsible garbage. So, what is wrong with this statement made by TNT Tony Renfrow and his side kick Rayren? Let me explain.
First of all, traders can’t trade the Iraqi dinar since OFAC sanctions are still on the currency and have not yet been lifted. It would be illegal and very risky to put any of the dinar in investment portfolios at this time. Any responsible financial manager would not do it. So, who are these investors he claims are driving the back rate up? Secondly, there is no back screen trading platform, so even if they did want to trade the dinar how would investors do it? How would they pay for the dinar? Who would track their shares of the currency? There would also have to be a vehicle in which to sell the dinar and pay proceeds or track losses that does not exist.
Next, if any private investor wanted to buy dinar for their personal investment portfolio in massive amounts, they could easily do it but from an internet broker for 1/6 of a penny and not for the $3.71 as Tony tells everyone the rate is now on the backscreens just waiting to reach the $3.91. Would you be buying the dinar for $3.71 now if believed it would go up and possible crazy for awhile on FOREX? Really now lets think, think, think….. 😊 How would any of these so-called backscreen investors make any money?
Finally, I need to add that the new Quantum Financial System (QFS) is now being tested and has been in test mode since 2012. It is now calculating the new rates of the worlds currencies, with intricate algorithms that go against a country’s assets and relationships to other currencies in the order of the pegging groups. As the years passes they have been slowly updating the system with more and more data as more currencies entered the QFS. This has been experimental up to now as they have played with the pegging groups and rearranged them with the goal of coming up with fair and honest rating of global currencies. I had the opportunity to look at the screens they use to set the pegs and enter assets. It is very complicated. So, knowing all this is this what the TNT jerk is talking about? Why can’t he ever get it right? It probably is the rate in the QFS he is talking about and not back screen trading. So, the rates he refers to are not being driven by trading but rather simply the algorithms the dinar is based on and the progress of the economy of Iraq. If you care to remember I told everyone months ago that my CBI contact told me the new peg for the IQD has been determined and the IMF is going to use five other currencies in the re-pegging of the IQD when they finally do reinstate it back to FOREX. This is FACT and not my opinion.
Could this be what the TNT jerk is talking about as they watch the rate rise based on other global currencies? We all know they want the rate just at about $4.00 mark. So, someone giving this jerk his intel does not know what the hell they are talking about. Funny thing is the TNT jerk knows all about the QFS but forgets what he learned from the past. I can remember him talking about the QFS and the beta testing they were doing a decade ago. I guess all that expensive brandy and those Cubano cigars has hit his brain too hard. Like I said so many times already, you can’t forget what you learned from the past as FACTS. You always have to go back to the FACTS to debunk this stupid nonsense rumors and garbage intel that these intel gurus tell you. It is not very hard to do either, if you have a solid and factual background of knowledge of which to go by, which I am proud to say I do. Remember also that this comes more naturally to me since this was my job while in the U.S. Army intelligence. I collected raw data, formulated assumptions, then worked to debunk it or prove it factual. My job was then to brief the higher command of the situational picture that was forming. On top of all this I was stationed inside Iraq and so I know how the language can be misinterpreted and confused from Arabic to English.
So, in summary I wish this TNT jerk would just open his eyes to the idiot giving him his daily doses of fiction. They are never correct and just play head games with him over and over again. How many times have we heard about a pending RV and yet here we sit decade later with nothing.
I know all you TNT pied-piper puppets all desperately want to deny the truth and go along with such nonsense and you enjoy the roller coaster ride from each of his conference calls. You idiots even pay for it, really? But again, I have to add where does all lying get you? Does it make the RV happens any faster? TNT Tony is a scammer and is taking advantage of your lack of investment knowledge. He claims, as all scammers do, to want to help you and gives you tidbits of information just enough to real you in like a fish caught in the hook. This is really sad as many of you investors are older people and don’t know any better. But you do now and that is one of the primary reasons why I am here with my blog.
What else is in the news?
The “real” news could not get any better than maybe getting the RV. So let’s run down what happened this past period.
Ministry of Justice spokesman, Ahmed Laibi, said today that the Iraqi Facts Department addressed the House of Representatives with an official letter in order to send the schedules of the Federal Financial Budget Law for the year 2024 in order to publish them in the Official Gazette. So why then so many lies that the schedules were to be published in the Gazette last Saturday when there we no chance even it could? Who told you this? Why are you waiting so diligently anyhow for the Gazette publication? Could it be that you still believe the new RV rate, the one you are looking for will be published at this time? All I can say is good luck with that!!! 😊 Like I said many times the RV rate WILL NOT EVER be published in the Gazette. You are dreaming if you think so.
Yet more sources of revenues for Iraq:
In Shafaq News we learned this past Sunday that Prime Minister Mohammed Shia Al-Sudani confirmed that his government aims to convert at least 40 percent of Iraq’s oil exports to derivatives and refinery products, thus yet more revenues from the maximization of Iraq’s resources from its oil wealth.
In the recent past we read articles about these Iraqi oil refineries coming online soon and so we are now here. Iraq will no longer have to spend it revenues on purchasing gasoline and diesel fuels from Iran. Yet another blow to the Iranian economy. Just so you know Iraq is going to do the same from the blow off gas from the wells. This is natural gas and plenty of it that is currently being wasted and just burned off. Iraq plans to fuel it power plants with the gas to supply 24/7 electricity. They will also need reliable energy sources to run the growing Iraqi industry.
The Iraqi Deposit Insurance Company:
All I can say about this Iraqi Deposit Insurance Company is that finally someone is leading this country of Iraq down the right path. The similarities of what happened in WW2 bombed out Europe to reconstruct it is playing out now in Iraq, finally! The Iraqi Deposit Insurance Company is playing an important role in enhancing the confidence of investors and depositors in the Iraqi banking system, which made it easier for banks to obtain the necessary financing for reconstruction. It is estimated that Iraqi banks have provided loans worth more than $10 billion to finance reconstruction projects in recent years. Remember that it takes money to reconstruct a country from a war. Where is all this money going to come from? Many of these intel gurus lie to you about the RV and they tell you all they need to do is just “pull the trigger on the RV” and all of Iraq’s problems go away. Well the article proves to you just as I have been saying this is not going to be the case nor was it ever the case. How stupid and ignorant of a thing to tell your listeners. These kind of statements just prove once again these so-called intel gurus have no clue what the hell they are talking about.
Germany’s experience after World War II is an inspiring example of how banks can play a crucial role in the country’s reconstruction
International Monetary Fund (IMF) mission in Iraq:
The IMF also poked its head up recently as the head of the International Monetary Fund mission in Iraq, Dr. Ghazi Shubaikat said there has been growth in the Iraqi economy in light of the reforms adopted by the government, at a time when he stressed that Iraq must work to achieve financial sustainability while having the elements to achieve this goal. His comments sounded all optimistic about the advancements so far in the economy. But just remember although the IMF is being positive on the outside, they would love to send in their economic hitmen to destroy the Iraqi economy so they have to resort to enormous IMF loans to help pay the deficit. But I do not believe at this stage they would get away with this as Al-Sundani is wise to their tactics. He has already said they plan to pay off the past IMF debt soon and do wish to resort to any more loans to cover the deficit. Folks this is all amazing, fantastic news....
The world needs to understand the U.S. Treasury bond market is funded off the world needing dollar reserves aka bank derivatives (off balance sheet dollars).
When the Petrodollar ends on June 9th, there is no need for the world to hold U.S. Treasuries as the global world reserve asset in the oil trade.
The Japanese yen will hyperinflate against their U.S. Treasury holdings.
Japan will be forced to liquidate all their dollars and U.S. treasuries that fund the Gates Foundation,
The Gates Foundation will fold. Melinda Gates leaves the Gates Foundation on Friday June 7th, two days before the petrodollar ends (June 9th). Bill and Melinda Gates knew the petrodollar was going to end.
Coincidence? No? The monetary even is going down NOW!
If anyone believes Donald Trump (or Joe Biden for that matter) will be President on November 5th, I have a bridge to sell you!
U.S. Treasury must roll over $10 trillion in bonds, of which they don’t have the money. Saudi is protecting their oil against a collapsing fiat dollar. The Fed isn’t going to print this kind of money.
June 9th the Agreement between United States and Saudi Arabia to sell Saudi Oil in USD exclusively ends. Saudi Prince has already notified U.S. that this agreement will NOT be renewed and they will no longer accept USD.
It means state banks can link up to M-BRIDGE, bypassing the SWIFT system and interface with the PBoC and the state banks could then potentially hold RMB as reserves.
===>>>>> This would allow China to control the gold price inside the U.S. state banking system!
