"QFS CONVERSATION" WITH GOLDILOCKS, 16 JULY

 GOLDILOCKS

"The International Chamber of Commerce (ICC) has expanded its presence in Iraq with the official launch of ICC Iraq at ICC's Global Headquarters in Paris on Wednesday."

ICC will boost Iraq's economy in trade relationships. The launching of ICC in Iraq has already been in formation and has reached 92 countries as trading partners. 

The launching of the ICC in Iraq in enables their shipping ports to move forward with the digitization of their shipping ports. 

The International Maritime Organization (IMO) has said that Iraq is embracing the move to digitalize its maritime sector.  

We are beginning to witness Iraq begin to gain International partnerships to launch and expand their ability for trade relationships that will literally put them on the International stage inside a digital asset based trading system.

Watch the water. 

© Goldilocks

https://www.iraq-businessnews.com/2024/07/11/intl-chamber-of-commerce-icc-opens-in-iraq/ 

https://www.iraq-businessnews.com/2024/07/10/iraq-to-establish-maritime-single-window-for-major-ports/

RV UPDATE BY MARKZ, 16 JULY

 MarkZ  

 [via PDK]   I am hearing from multiple sources inside Iraq that they are expecting an RI (Re-Instatement) at any moment.  I had been told very specifically that they expect a rate of $3.86.   I am getting this from so many sources now …all of a sudden…today…that it has become almost overwhelming...I think this is exciting news and am hoping it is accurate...Just buckle up and stay calm.

I did hear interesting things from a couple banking contacts that  things have very much moved over the weekend and that they may be using the Republican convention as a distraction to roll things out.

 I absolutely believe they have the rate…I don’t think Iraq is stalling...I think they are waiting for the “go” signal.

Central Bank Of Iraq Sells $270 Million In Auction Today

 Time: 2024/07/15 15:42:39 Reading: 598 times

{Economic: Al Furat News} The Central Bank of Iraq’s dollar sales on Monday amounted to more than 270 million in a currency auction.

The bank sold in its auction today 270 million, 626 thousand and 37 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, and at the same price per dollar for foreign transfers, and at a price of 1305 dinars per dollar in cash.

Most of the dollar sales went to boost balances abroad in the form of transfers and credits, which amounted to $252 million, 324 thousand and 37, an increase of 93% over cash sales of $18 million, 302 thousand.

The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 14 banks, and the total number of exchange and brokerage companies participating in the auction was 6 companies.   LINK

Iraq Advances One Place In The World's Gold Reserves,

 Market  Economy News – Baghdad  The World Gold Council announced today, Monday, that Iraq has advanced one place in the list of countries with the largest reserves of the precious metal in the world.

According to the latest table published by the Council in July, which was reviewed by Al-Eqtisad News, it advanced to 30th place out of 100 countries listed in the table with the largest gold reserves, after it was ranked 31st globally, and fourth in the Arab world after Saudi Arabia, Lebanon and Libya.

According to the table, Iraq maintained its gold holdings unchanged, reaching 1,457 tons, which represents 10% of its other reserves.

The Council pointed out that "the United States of America tops the list of countries with the largest gold holdings in the world, with 8,133.5 thousand tons, followed by Germany with 3,351.5 thousand tons, then Italy with 2,814 thousand tons, while Suriname came in last with 1.2 thousand tons."

The World Gold Council is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.

124 views  2024/07/15 - https://economy-news.net/content.php?id=45255

RV UPDATE BY FRANK26, 17 OCT

  Frank26 

 Question: "Is this going to be a capital gain?" A lot of people desperately do not want to pay taxes.  I believe they live in this world they create where taxes never exist.  I'm sorry, if you honestly think you're going to be able to get involved in this and exchange this currency, that's called a capital gains, without having to pay any taxes you're delusional...Yes you're going to pay taxes, that's why it's important to have a receipt...held for one year you'll probably be in the 20% tax bracket...if you don't have a receipt, you lost it, you'll probably be in the 40%.  Biden just said a couple days ago he wants to increase those taxes over 50%...capital gains..

  Is the goal of the CBI for the Iraqi dinar exchange rate to go international?  Is that the goal of the monetary reform?  No.  It's to RI...The goal is not to send it to you internationally so you can make money off of their currency.  The goal of the monetary reform of the Iraqi dinar is to lift the value of the currency by removing at least three zeros from their exchange rate.  In doing so, then their monetary reform will require another reform, which is the denominations...the lower notes.

This Is The Volume Of Our Trade With Iran.. An Economist Reveals The Reasons For The Dollar Problem Inside Iraq

 Economy |Baghdad Today – Baghdad  Economic expert, Munir Al-Abidi, revealed today, Tuesday (July 16, 2024), the volume of trade between Iraq and Iran, while indicating that the dollar problem in Iraq is not due to official trade.

Al-Obaidi said in a clarification he published on Facebook, which was followed by "Baghdad Today", "The Iranians say that our trade with Iraq during three months amounts to 3 billion dollars, distributed as 1.2 billion to meet the need for gas, 700 million dollars for electricity, while 200 dollars are for food, and another 200 million for iron trade."

He added, "This means that the value of food and iron during the year amounts to only 1.5 billion dollars annually," indicating that "some say that our trade with Iran amounts to 12 or 14 billion dollars, which is the reason for the dollar crisis."

Al-Obaidi said, "Our official trade for the private sector does not exceed 3 billion dollars with Iran and does not exceed 300 million dollars with Syria," stressing that "the problem with the dollar is not the official trade with Iran and Syria."

He pointed out that "the problem of the demand for dollars in the local market is to cover the needs of other types of informal and illegal trade, most notably drugs," stressing that "all this fuss, crying and wailing in the channels is to reopen the money channels for this trade."  LINK

Allan Lichtman Called Past Elections, Reveals 'Keys To The White House'