Thursday, July 25, 2024
"IRAQI CITIZENS SAY TO SUDANI... ARE YOU WATCHING US SIR?" BY FRANK26, 25 JULY
KTFA
FRANK26:"IRAQI CITIZENS SAY TO SUDANI... ARE YOU WATCHING US SIR?".........F26
Iraqi banking system.. A significant increase in the number of bank accounts and the volume of deposits for citizens
7/24/2024
The banking system in Iraq is gradually regaining citizens’ confidence with the increase in the number of bank accounts in the country.
Banking systems around the world are facing increasing challenges in light of rapid economic and financial changes. To ensure the stability of these systems and protect depositors’ funds, many countries are moving towards joining the International Association of Deposit Insurers. This membership is not just a formality, but a strategic step that carries significant benefits for member countries and their banking systems.
In Iraq, economic and political challenges over the decades have provided a strong justification for keeping money at home rather than in banks. However, the accession of the Iraqi Deposit Insurance Corporation (ICDI) to the International Association of Deposit Insurers was a decisive step in improving confidence in the banking system. Since its accession, Iraq has witnessed a significant increase in the number of bank accounts and the volume of deposits, reflecting a significant improvement in citizens’ confidence in banks. This development enhances Iraq’s ability to attract investment and support economic growth by converting savings into productive investments.
In a world characterized by increasing economic and financial interdependence, countries cannot operate in isolation from each other. Membership in international deposit insurance bodies reflects countries’ commitment to international cooperation and exchange of expertise, and confirms their relentless pursuit of financial stability and the protection of depositors’ funds. This membership is not just a formality, but a strategic investment in the future of the banking system and the national economy as a whole.
International cooperation: the cornerstone of deposit insurance
International bodies provide a unique platform for the exchange of expertise and knowledge between member states. National financial institutions can benefit from the successful experiences of other countries in the field of deposit insurance, and avoid the mistakes made by some countries. This ongoing exchange contributes to the development and modernization of deposit insurance policies and procedures in line with international best practices. Joining the International Association of Deposit Insurers (IADI) enhances the transparency and credibility of the national banking system. A country’s commitment to strict international standards in the field of deposit insurance sends a positive message to citizens and investors, stating that their deposits with banks that are members of the deposit insurance system are in safe hands and that the banking system is subject to effective local monitoring and supervision. International bodies do not only provide a platform for the exchange of expertise, but also provide technical and advisory support to their members. National institutions can benefit from the expertise of international specialists in developing and implementing effective deposit insurance policies, assessing potential risks, and preparing for financial crises.
By adhering to international standards and implementing best practices, national institutions can reduce the risk of financial crises and enhance the stability of the banking system. This stability is not an end in itself, but rather a means to achieve broader economic and social goals, such as increasing economic growth rates and creating job opportunities. When citizens and investors trust the banking system, they are more willing to deposit their money in banks. This increased confidence leads to an increase in the volume of deposits available for investment, which supports economic activity and contributes to achieving sustainable development. The impact of membership in international bodies is not limited to enhancing financial stability and confidence in the banking system, but extends to supporting economic development. Increasing the volume of deposits available for investment can contribute to financing development projects, providing loans to small and medium enterprises, and creating new job opportunities.
Malaysia:
Malaysia joined the International Association of Deposit Insurers, which helped improve deposit insurance policies and increase confidence in the banking system. This accession led to an increase in the volume of bank deposits and greater financial stability, which contributed to supporting economic growth in the country.
South Korea:
After the Asian financial crisis in the late 1990s, South Korea joined the International Association of Deposit Insurers. International membership helped restore confidence in the banking system and stabilise the national economy, allowing South Korea to achieve a rapid economic recovery.
GINGER CHAT, 25 JULY
GINGER CHAT
💢 Very interesting conversation in GLL Chat with Liberty Loungers Extraordinaire
💥 Keen observations. Let's consider them as data points and watch what unfolds. Observe but don't absorb. 💥🙂 7.25.24
💢 Gezelle: We have US Marshals at DC and that strange object on the white house live cam, maybe the gallows. Let's hope we are at the past in the movie when they arrested all of Congress and executed them at the Gallows. We have heard it already happened, but now waiting for it to be public🙏🙏🙏🙏.
💢 Elizabeth: If I'm not mistaken, there's also an Iraqi delegation in Washington today that has to do with security talks. With all the other stuff going on this has been obscured mostly. Think about it, friends. Very, very important that they get this part right and yet the chaos is huge. Does anybody besides me see this? 🧐🤨
The Difference Between Currencies and Bonds in the GCR BY AWAKE IN 3D, 25 JULY
A straightforward explanation of how gold-backed currencies and bonds differ and how they will be transacted in the Global Currency Reset (GCR)
In This Article
General Definitions and Functions of Currencies and Bonds
Key Differences Between Bearer Bonds and Registered Bonds
How Transactions Will Work in the GCR
The Global Currency Reset (GCR) represents a significant shift. This reset involves the revaluation of currencies and bonds backed by gold. Understanding the distinctions between gold-backed currencies and bonds, particularly in the context of the GCR can be helpful in the broader landscape of things.
This article aims to provide a clear and simple explanation of these differences, including the unique characteristics of Bearer Bonds and Registered Bonds, and how transactions will be handled.
General Definitions and Functions of Currencies and Bonds
Currencies are are considered legal tender issued by a country’s central bank or government, with their value tied to a specific weight of gold.
These currencies act as a medium of exchange, facilitating everyday transactions.
Bonds are financial instruments representing a loan made by a person or entity to a borrower, which can be a government, municipality, or entity.
Bonds are used to raise capital and provide periodic interest payments to bondholders. Unlike currencies, bonds return the principal amount at maturity.
Key Differences Between Bearer Bonds and Registered Bonds
To the best of my knowledge, all GCR bonds are Perpetual Bearer Bonds, which have distinct characteristics compared to Registered Bonds:
Bearer Bonds: Bearer Bonds are unregistered, meaning ownership is transferred by simply delivering the physical bond certificate. They offer anonymity to the bondholder but carry a higher risk of theft or loss since possession equates to ownership. Perpetual bonds do not have specified maturity dates.
However, to the best of my knowledge, all GCR bonds do require adequate provenance (history of ownership) that show that the bonds were not implicated in any criminal activity.
Registered Bonds: Registered Bonds are recorded in the name of the bondholder. Ownership is transferred through a formal registration process. They provide greater security against theft or loss but do not offer the same level of anonymity.
Key Differences Between Gold-backed Currencies and Bonds
While both currencies and bonds will be linked to various weights of gold in the GCR, their purposes, issuers, and returns, differ significantly:
Purpose: Currencies are used for everyday transactions, whereas bonds are investment vehicles that appreciate over time.
Issuer: Currencies are issued by governments or central banks. Bonds can be issued by governments, municipalities, and other entities.
Return: Currencies do not provide a return in the form of interest unless held in interest-bearing accounts. Bonds, however, generally provide interest income over time.
How Transactions Will Work in the GCR
In the GCR, gold-backed currencies will be exchanged similarly to traditional currencies, only there will likely be a digital (blockchain) component and/or process involved. [More on the decentralized ledger and payment system in future articles.]
Conversely, bonds will be redeemed rather than exchanged. This means bondholders will receive appreciated rates and the principal amount at maturity, rather than using bonds for everyday transactions.
In the case of ZIM perpetual bonds, the principle value will come from its gold-backed component along with accrued, underlying interest appreciation. No one really knows what that appreciation factor is.
Since most GCR bonds are Perpetual Bearer Bonds, the transaction process involves the physical delivery of the notes to transfer ownership at the time of transaction.
DISCLAIMER: This article is for educational and entertainment purposes only and does not constitute financial advice. I am not a certified financial or investment advisor. Always seek professional guidance before making financial decisions.
© GCR Real-Time News
"BELIEVE IT OR NOT... THEY ARE ON SCHEDULE FOR THE MONETARY REFORM." BY FRANK26, 25 JULY
KTFA
FRANK26: "BELIEVE IT OR NOT... THEY ARE ON SCHEDULE FOR THE MONETARY REFORM."......F26
Rafidain announces the implementation of the comprehensive system at the bank’s outlet at Baghdad Airport
7/24/2024
The bank pointed out in a statement received by {Al Furat News} a copy of it that "the number of effective and completed branches of the system has become (35) branches, in an important step to strengthen the banking system and achieve its requirements and leave paper work and move completely to electronic systems."
He stressed that "the digital transformation plan and the adoption of the comprehensive banking system are proceeding according to the set timetables to include all bank branches in the implementation of the system, especially since the priorities and adoptions of the government program include electronic transformation in financial transactions, reducing the circles of routine for citizens, shortening time, simplifying procedures, overcoming obstacles, and intensifying efforts to improve the level of services provided to customers and completing their transactions."
RV UPDATE BY TRUTH WARRIORS, 25 JULY
🇺🇸💥🇺🇸. The fiat dollar has been used as the reserved currency around the world. This has kept the local countries’ currencies at a lower value.
💥💥💥. As they use their own currencies for trade and using a digital process, their value in their currencies will increase. 💥💥💥.
Regulations on digital assets will minimize illegal activities and manipulation on value of currencies!
💥💥💥 Institutions and banks have approval to use XRP because it is the bridge between countries.
💥💥💥 XRP moves paper currencies through the QFS, connected to banks in a digital format and are backed with assets and gold, silver, etc.
In order for currencies to move and use their values, it must be digital……XRP!
💥💥💥 Judge Torres gave the ruling today to move currency, digitally, for cross borders. That means U.S. banks can exchange different currencies using the digital process.
💥💥💥 Very exciting! Understand the magnitude of this affecting the currencies we hold for exchange and the future of cross border payments! 🇺🇸💥🇺🇸👇👇👇
TIDBIT FROM FRANK26, 13 NOV
Frank26 The monetary reform policy is being introduced to you Iraqi citizens on a daily basis isn't it. It's is my hope. It ...
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