Suggested Questions to ask at your "camper" appointment by GINGER, 27 JULY

 GINGER

💢 Suggested Questions to ask at your "camper" appointment. 

💜 Please see Ginger's "Campsite" sub group for more helpful checklists and tips for preparation to guide you in your redemption or exchange appointment planning. Ask for a link to join in our Private GLL chat groups, please. 💜

 

1. Ask up front for a copy of all signed documents and agreements. 

 

2. Get printed receipts of all transactions in regards to all accounts which includes deposits, debits and current balances.

 

3. Ask to please give you the best rate possible! Are there any stipulations (conditions) on the contract rate if available?

 

4. Do I need any other accounts or sub accounts in addition to my new QFS account? What do I do with the accounts I have now?

 

5. Can I have multiple sub accounts with QFS accounts or must they be in a bank?

 

6. How much can I bring down under each sub account?

 

7. Will interest be paid on money if kept on the QFS and how many accounts can I get that interest in?

 

8. If so, how much interest are we getting and when does it start?

 

9. Can I get that in quarterly installments?

 

10. How much interest can I get on the Zim monies? If only allowed to pull down a certain amount when will I be able to get interest on the other monies?

 

11. Is there a max amount I can put into the primary account that I will get interest on?

 

12. Will there be a QFS class to learn how to access, deposit, withdraw, etc.?

 

13. Will I need to purchase a separate computer just for QFS banking?

 

14. Am I being given an immediately active and secure debit card attached to my QFS Mother-load account today and if so, how do I keep the account safe?

 

15. I have never done a humanitarian project. Is there a team that can help with my set up and implementation needs? Do I need to start the process immediately?

 

16. Is there a need for any security measure to be put in place for me and my new QFS account?

 

17. Get business cards of everyone you speak to!

 

18. Make sure you see money in the account before you leave the building!! Count twice before signing off.

 

19. Get 100 checks for subaccounts (ask if that many is necessary, you do not want a big paper trail)

 

20. “Proof of Funds”-Clean Clear Certificates- get many denominations- and a Debit Card for Mother accounts. Only carry a debit card for lower amounts in case it is stolen (personal account). Change password from the one they give you.

 

21. All money should go into the QFS account (NONE to their bank). Set a limit of how much physical cash that will be allowed to take out of the bank and home with you.

 

22. Flag all accounts as “ACCESS RESTRICTED TO NON-ESSENTIAL PERSONAL”. Also, flag for accounts not to be in Test and Production.

 

23. Does FDIC still apply or do I need Lloyds Insurance over $250k? Make sure you are not paying a Spread fee (a reduction of the rate because the bank takes a fee for facilitating the transaction)

 

24. Is there lost/stolen card protection?

 

25. Do you need to get a new phone or wait for the new QFS phone?

 

26. Ask to fill out a POD (Payable on Death) and take with you.

 

27. What forms are needed to hire a team without violating our NDA?

 

28. For banking purposes/wealth managers (we do not need a wealth manager) all accounts should be Non-testing, Non-training accounts either online or offline. Require that the bank manager be the only person with direct access to your account. No general teller is to have access. Privacy and security need to be safeguarded.  ALL MONEY STAYS ON QFS SYSTEM!!

 

29. Is my money protected by the devaluation of the USD?

 

30. How soon can I make a Med-Bed appointment?

 

 

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Minister of Finance receives draft regulation and restructuring of Rafidain and Rashid Banks

7/25/2024

 

Baghdad - WAA -

Minister of Finance Taif Sami received today, Thursday, from the international auditing and oversight firm Ernst & Young a draft of the organization and restructuring of Rafidain and Rashid banks.

The Ministry of Finance said in a statement received by the Iraqi News Agency (INA): "Sami chaired a meeting at the ministry's headquarters with representatives of the international auditing and oversight firm Ernst & Young," noting that "a draft was submitted by the auditing firm on organizing and restructuring Rafidain and Rashid banks, in addition to discussing the proposed plan, implementation stages, and defining the frameworks of the contract and formulating it in a manner consistent with the priorities of reform and development."
It added that "the Minister of Finance discussed with the company the work plan and the necessary steps to merge and organize a number of institutions of the Iraqi Ministry of Finance."
The Minister of Finance stressed - according to the statement - "the importance of benefiting from the expertise of solid international companies such as Ernst & Young in the field of organizing and restructuring financial institutions, noting that "the ministry aims to make Iraqi banks internationally and locally acceptable to provide better services to citizens."
She explained that "the expertise of the auditing firm will contribute to improving the efficiency and effectiveness of financial institutions, as it is expected that merging and organizing financial institutions will improve the quality of banking services provided and enhance investor confidence in the Iraqi economy."

 

LINK

How Zimbabwe is Leading Africa into a Gold-Backed Currency Reset BY AWAKE IN 3D, 27 JULY

Zimbabwe’s now-official ZWG (aka the ZiG) currency is setting a new standard for stability and exchange rate value.

As African nations increasingly turn to gold to hedge against economic instability, Zimbabwe is leading the continent into a gold-backed currency future.

The Reserve Bank of Zimbabwe (RBZ) recently announced the certification of the Zimbabwe Gold (ZiG) with an international currency code (ZWG) by the World Bank, giving it a distinct identity among other nations’ official currencies.

The ZiG is a revolutionary currency backed by precious metals, mainly gold, and foreign currency with a cumulative value of about US$300 million.

ONE ZiG (ZWG) IS WORTH $13.44 USD TODAY!

Currently, there are ZiG1, ZiG2, ZiG5, ZiG10, and ZiG20 notes in circulation, with plans to introduce ZiG50, ZiG100, and ZiG200 notes in the near future. Minor units of the ZiG are known as cents, reflecting a familiar structure for ease of transactions.

Since its introduction at a rate of ZiG13.66 to the US dollar, the currency has shown remarkable stability, currently trading at ZiG13.44. There are about US$80 million worth of ZiG in circulation.

This stability is a stark contrast to the volatility that plagued previous iterations of the Zimbabwean dollar for the past several decades.

In This Article

1. Zimbabwe’s Gold-Backed Currency Initiative
2. Other African Nations Following Suit
3. Economic Implications for the Continent
4. The IMF’s Positive Perspective on Gold-Backed Currencies
5. 
   

Zimbabwe has emerged as a pioneer in a significant shift towards gold-backed currencies across the African continent.

As economic instability and currency depreciation arise, African nations increasingly look to gold to safeguard their financial futures.

Zimbabwe’s Gold-Backed Currency Initiative

Zimbabwe’s introduction of the Zimbabwe Gold (ZiG) currency marks a groundbreaking move in Africa’s economic landscape.

The new currency, backed primarily by gold and other forex reserves, replaces the beleaguered Zimbabwean dollar. Since its launch in April, the ZiG has aimed to stabilize the nation’s economy and restore confidence in its financial system.

David Mnangagwa, Zimbabwe’s Deputy Minister of Finance, Economic Development, and Investment Promotion, emphasized the importance of controlled money supply to maintain the currency’s value. This approach addresses past issues of hyperinflation and rapid devaluation.

The government’s strategy to “drip-feed” the ZWG into the market is designed to preserve the currency’s value, ensuring long-term stability and economic growth.

The International Monetary Fund (IMF) has also recognized the positive strides made by Zimbabwe. According to an IMF review, Zimbabwe’s economy is showing resilience, with growth expected to recover strongly in 2025.

The introduction of the ZiG has played a pivotal role in ending a period of macroeconomic instability, and the IMF commends Zimbabwe’s improved monetary policy discipline and efforts to stabilize the new currency.

Other African Nations Following Suit

Inspired by Zimbabwe’s initiative, several African countries are taking similar steps to secure their economic stability through gold-backed currencies.

Nigeria, Uganda, Tanzania, and Madagascar have all announced plans to bolster their gold reserves and, in some cases, back their currencies with gold.

Nigeria’s central bank has initiated a domestic gold-buying program and plans to repatriate its existing gold reserves. This move aims to mitigate risks associated with the weakening U.S. economy and the volatility of the U.S. dollar.

Similarly, Uganda and Tanzania have launched gold acquisition strategies to strengthen their financial reserves and reduce dependency on foreign currencies.

Tanzania announced a significant investment of $400 million to purchase six tons of gold, reflecting a strong commitment to securing its economic future.

Uganda’s central bank introduced a domestic gold-buying program to purchase gold directly from local artisanal miners, aiming to address risks in the international financial markets.

Economic Implications for the African Continent

The shift towards gold-backed currencies represents a significant financial development for African economies.

By leveraging gold, countries aim to protect themselves against geopolitical risks and currency depreciation. This strategy also addresses the concerns over America’s economic policies and the potential weaponization of the U.S. dollar.

Analysts highlight that adding gold to national reserves allows countries to grow their reserve assets without sacrificing other hard-currency reserves. This approach is particularly pertinent for nations facing economic sanctions or anticipating a decline in the U.S. dollar’s value.

The strategic accumulation of gold reserves can bolster economic resilience and foster long-term stability across the continent.

The IMF’s Positive Perspective on Gold-Backed Currencies

The global financial community is closely monitoring Africa’s transition to gold-backed currencies.

Experts from institutions like the IMF recognize the potential benefits but also caution about the challenges. Sustained economic stability and disciplined monetary policies are crucial for the success of these initiatives.

The IMF’s positive assessment of Zimbabwe’s economic policies is a testament to the potential success of gold-backed currencies. The institution’s recommendations for further refinements to the policy framework highlight the importance of continuous improvement and adaptation. Zimbabwe’s pioneering move sets a precedent, encouraging other African nations to consider similar measures.

The Bottom Line

Zimbabwe’s bold step towards a gold-backed currency is reshaping the financial landscape in Africa.

As more nations follow suit, the continent is positioning itself to mitigate economic risks and enhance financial stability. This trend underscores a broader move towards leveraging gold as a safeguard against global economic uncertainties, potentially setting a new standard for currency stability in the 21st century.

With the positive momentum from IMF reviews and the collective efforts of African nations, the future looks promising for a continent embracing economic resilience through gold.

Contributing Articles: 

• https://www.moneymetals.com/news/2024/07/25/african-countries-are-turning-to-gold-003338
• https://www.newsday.co.zw/business/article/200029032/minister-confirms-structure-to-drip-feed-zwg-into-economy
• https://www.imf.org/en/News/Articles/2024/06/27/pr-24248-zimbabwe-imf-staff-completes-2024-article-iv-mission

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Economist: The Iraqi banking sector has achieved significant growth

7/25/2024

 Baghdad
 

Today, Thursday, the head of the “Iraq Al-Mustaqbal” Foundation for Economic Studies and Consultations, Manar Al-Obaidi, confirmed that the Iraqi banking sector has been able to achieve growth in many areas during the past period.

Al-Obaidi said in a tweet followed by “Al-Eqtisad News” that the data of the Iraqi banking sector between 12-31-2022 and 5-31-2024 indicate that the banking sector, despite all the challenges and shocks it faced during this period, was able to achieve growth in many areas, specifically in financial inclusion, as well as an increase in bank assets and maintaining the volume of deposits despite everything that was raised about the sector.

Al-Obaidi published a table showing all the figures related to the Iraqi banking sector between December 13, 2022, and May 31, 2024.

Below is the table published by Al-Abidi:

LINK