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The controversy over foreign banks’ acquisition of the “Iraqi Dollar Auction”.. A ​​comprehensive explanation of the reasons

 The controversy over foreign banks’ acquisition of the “Iraqi Dollar Auction”.. A ​​comprehensive explanation of the reasons

2024-07-14

The controversy over foreign banks acquisition of the Iraqi Dollar Auction.. A ​​comprehensive explanation of the reasonsAlsumaria News – Economy

The researcher in banking and economic affairs, Mustafa Hantoush, reviewed today, Sunday, the reasons for foreign banks’ acquisition of the largest percentage of shares in some banks inside Iraq and their acquisition of the currency auction as well, as the strengths of these banks are that they are owned by foreign banks capable of opening accounts easily in accordance with the standards of American banks that supply the dollar.

Hantoush told Sumaria News, “Some foreign investors and foreign banks have obtained more than 51% of shares in some banks inside Iraq, despite the fact that the Companies Law prohibits giving the foreign investor more than 49%.”

However, Hantoush reviewed the existence of a “legal loophole” that enabled the Central Bank to grant foreign investors larger percentages than stipulated in the Companies Law, noting that Article 107 of Banking Law 94 of 2004 gives the Central Bank’s Board of Directors the authority to determine the percentage of foreign investor ownership in banks without being bound by general laws.

He considered that this paragraph is not supposed to mean that the percentage should be more than 50%, but rather that it should be less, but the loophole is that the legal article gave absolute authority without addressing that the percentage should be less or more than 49%.

He explained that “there is no granting of a share larger than 50% in the world except in countries where there is a high circulation of funds, considering them bankrupt countries that do not possess wealth that they fear will be controlled by foreign banks.” He explained that

“according to this strategic mistake, foreign banks were given more than 60% of the shares in banks inside Iraq Today, we have begun to observe the fruits of this mistake, when the American side noticed the existence of currency smuggling and trade operations with Iran. Syria and set conditions of compliance, failed Central Bank of Iraq And Iraqi banks by applying the standards or the possibility of opening accounts for Iraqi banks in American banks to achieve control and finance their accounts in dollars.

He pointed out that “when this happened and the arena became empty of Iraqi banks capable of taking on this role, these foreign banks operating in Iraq And through the governors of the central banks of the countries of origin of these banks, they presented themselves as a solution to Washington instead of presenting themselves as a mediator between Iraq And America.”

He stressed that “indeed, American banks relied on these foreign banks operating in Iraq And they opened accounts for them in Citibank And JPMorgan, to their parent banks in other countries, which own the largest part of these banks within Iraq Although these banks are in Iraq Its work does not rise to achieve 5 points in the international standards, but it relied on its parent banks located in other countries.”

Accordingly, Iraq Now I take the dollars he has in the US Federal Reserve, and through them I finance the accounts of these banks that are open in my pocket accounts. Morgan And Citibank From there, the dollar is transferred to the rest of the world for Iraqi traders, and the traders deposit the dinars in Central Bank of Iraq He explained that “Iraqi banks cannot perform this role because they cannot open accounts in Citibank My pocket Morgan “Because it does not have branches in countries that the American banking system trusts, and the Central Bank of Iraq failed to guarantee Iraqi banks against American banks, and succeeded earlier in 5 banks but they only lasted a month and then these banks were punished, and they too were guaranteed by Jordanian banks.”

He stressed that “it is not possible to rely on foreign banks to manage the Iraqi banking system, this model failed in India because of its reliance on the foreign banking system, as the foreign bank gives profits to its parent branches abroad, and does not reinvest the profits here inside Iraq”, calling on the Central Bank to “find a solution to trade with Iran and Syria…and strengthening the Iraqi banking system and guaranteeing it before American banks and opening accounts for Iraqi banks to experiment with American banks.

alsumaria.tv

Q & A: " WHERE ARE WE AT GIN GIN?" FROM GINGER, 15 JULY

 💢Q & A - Where are we at Gin Gin? 

💢 Member: I recall our funding coincides with that of other tiers? Or when funding rolls out for lower tiers we are in the process of our exchange?  It’s been awhile. 🤔 

💢 Ginger: A - The answer is both. 

Certain levels (groups) of the earlier Tiers must be liquid with their 1% before we go. I talk about these phases during Gintel in Part 11 Chronicles.

Then we go.... (Tier 4B) 

And the process for the Tier 3 (groups) - which are still waiting to be paid - will continue even while we are going to our appointments. They cannot and will not be required to fund all Tier 3 before we go... It's not necessary. But 30% to 50% is what we're expecting to need to be liquid before it's our turn. 

Please note that it could take months for the remainder of T3 folks to all get paid out - as far as groups go; and we'll be long done with the process, ourselves, by that time, in Tier 4B. 🙂

The stages before each Tier help fund the step after it. Think of it like one well filling up - then to have the restraints pulled back and the water flows into the next well. When that begins to fill up, the restraints are pulled back and the water can then flow to the next well again... Please consider this idea as you picture the greater process of GCR (government required payments being paid out on the front end), all the groups and so on - starting the process - and the wells filling up to overflowing to then reach us, in Tie r 4B - as they finish up. We'll all be liquid and everyone will get fully drenched at the same time. 😁🙌❣️

I see definite progress being made.  🙂

But all the hype recently regarding Reno & Zurich we've heard from certain persons lately has been just that -- hype. My sources say there's some excitement in the air - and things are still on Alert --- but not on high alert yet as some have said, even insisting that activity in those places are all a frenzy and super active. From my vantage point, as limited as it is, and relying on true people who are there and observing things - this has not been the case. 🧐 But things are happening to keep the process moving along. I'm confident of this. ✅

Does this help? 🙂💓 7.14.24 

~ Ginger, Ambassador for God's Abundance with the New Earth Alliance

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Q & A : A conversation with a follower about Redemption Centers FROM GINGER TELEGRAM ROOM, 15 JULY

 💢A conversation with a follower about Redemption Centers. Q & A - my response follows: 

🔹Q: What redemption centers?

I keep hearing redemption centers but no info on them!!

How are we getting called to make appointments when we don't even know who and where they are!!

This extremely frustrating for your followers! 

Please break this down for us!!!

If you can't, then stop discussing it as an option.

(The use of exclamation points is not to be missed, here. 😏) ⬆️

🔹A: First, respectfully, don't take that tone with me. Kapeesh? Just don't. 

How long have you been following here? 

A few days? A couple of weeks? How regularly do you check the channel?? BECAUSE I TEACH ON THIS STUFF ON THE REGULAR. I have teaching calls recorded for those new here to catch up on as well. I've got plenty of information that people can avail themselves to if you care to look and actually do some work. (Yes, I understand that *scrolling* can be very tedious for some.) Pardon the sarcasm but I just don't take kindly to a pissy tone. Most people don't, ya know - so you might want to keep that in mind. 😏 

I've posted how to request notification at least 50+ times 🤦 ::::deep sigh:::: 

You don't and won't know where they are until after the RV happens when it's time to set up your appointment. You'll be given a phone number to call to a redemption center closest to you. 

Some top Tier banks will have a private client office (upstairs) away from prying eyes of other clients / other employees which has been set up as a RC where speculators in this event can redeem Zim and exchange their foreign currency with increased anonymity. 

There will also likely, plausibly, be a Redemption Center office area located on some military bases, which is beneficial for heightened security to keep the speculators safe. 

These are kept secret for the time being and not to be disclosed (yet), plus there are at least 7000 + RC in just the USA alone - so no, I'm not going to tell my followers the locations, as your comment suggests it's my obligation to do so. Give me a break. 🤦 You can count on major Top Tier 1 & 2 banks having an internal RC private client office area set up for security, and obviously, that will be in every major city, plus other good-sized cities. Those who live in small towns or rural areas may have to drive about 50 to 80 miles to reach a Redemption Center closest to them. 

Please, going forward, when asking questions on this channel, please have some decorum and polite civility. I work tirelessly to support the family here, more hours a day then you could even fathom, on top of working my full-time job. Be kind. Show some respect, please. Avail yourself to the gobs of resources and teaching material I've provided. Everything I typed above, I've said before - in teaching posts and in recorded calls that have been archived for easier access.

RV UPDATE BY CLARE, 15 JULY

 Clare  

Article:  "Source: Iraq's Central Bank Governor in unannounced visit to US to discuss Yuan ban"  Quote:  "al-Allaq departed for Washington last Tuesday to meet with officials from the Federal Reserve and the US Treasury Department."

 Clare 

 Article: "For the first time, the Iraqi state's non-oil revenues record an increase of 11%" 

Quote: "...for the first time, the non-oil revenues of the Iraqi state recorded 11% of the total revenues, with oil revenues falling below the 90% barrier."

 Community Comment: "I don’t understand how the budget can be sent back to Parliament when the President signed and sent it to the Gazette for publishing." 

 Article:  "A representative of the framework: The 2024 budget will be returned to the House of Representatives and the reason is revealed”  

THE AMENDMENTS NEVER GOT PUBLISHED IN THE GAZETTE YET.

 Article: "Customs revenues amount to nearly one trillion dinars in the first half of 2024"

  Article:  "Foreign Minister arrives in Washington"  Quote:  "Foreign Minister Fuad Hussein arrived in Washington today, Wednesday, to participate in the 2024 NATO Summit."

https://dinarevaluation.blogspot.com/2024/07/rv-update-by-clare-14-july.html

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