Tuesday, August 6, 2024
Coffee with MarkZ. 08/06/2024
STATUS OF THE RV: ANALYSIS ABOUT THE NEWS OF THE FED AND US TREASURY MOVE RELATED TO THE CBI BY MNT GOAT, 6 AUGUST
STATUS OF THE RV
Oh…. folks there is so much news pouring out of Iraq, most of it is all about the banking reforms and the necessity to clean up these 24 banks imposed with US Treasury dollar sanctions and for them to follow international banking practices. Where should I begin today?
First, we all need to establish a rightful “mind set” on what is actually occurring between the CBI, the Feds and the US Treasury. If you read the headlines today you might begin to panic. Oh…. you might say things are looking really bad for Iraq.
😊But I assure you that this is all actually VERY GOOD news for us investors. Try to remember this recent move by the US Treasury didn’t come without warnings. They have been warning the CBI for years to clean up this corruption mess with their banks and follow international banking laws.
😊Also keep in mind that this recent move by the US Treasury was made for the benefit of the currency reform process so that they could move to the next step of the currency reform once these issues are fixed. You do want this don’t you? You do want to go to the bank someday and exchange your dinar at a comfortable rate?
So, you can look at the glass as half full or half empty. Which is it for you? it is your choice and you can be a negative nanny or a smart investor. Either way the situation does not change until these banking reforms are instituted. Get it? Better now than waiting yet another frustrating year, just to get to this point. Get it?
😊We should actually all be VERY HAPPY that the US Treasury has now finally stepping in with more forceful measures. If anything could be negative about it, it is the fact that we ask why didn’t they make this move earlier, like last year or years before. They knew about the problem as we read many past articles on it. What made they react now is the fact that the Strategic Plan for banking reform and the currency reform could not move ahead on schedule in mid- June with the plan for the Project to Delete the Zeros. The level of corruption was only discovered with the extensive audits that were conducted as forced upon the banks by the US Treasury. In recent articles we learned about the financial group Ernest and Young who were contracted for this purpose...
TO BE CONTINUED
The National Currency Is Fluctuating.. An Expert To The “Iraq Observer”: We Need A Banking System That Creates Balance, 6 AUGUST
August 5, 2024 Baghdad/Iraq Observer Dollar prices have witnessed a significant rise recently, with a difference of 20 thousand dinars from the official price, amid the absence of any real solutions to control it and limit its rise.
In this regard, Mustafa Hantoush, a researcher in banking and financial affairs, confirmed to the Iraq Observer that “the issue of currency stability and the exchange rate is determined according to monetary policy, which is represented by several axes, the most important of which is that the dollar currency and the rest of the foreign currencies are owned by a number of foreign countries.” He added, “At the same time, Iraq has policies and understandings with these countries, such as the United States, so the issue of trade with countries such as Iran and Syria must be done according to the platform,” pointing out that
“this trade is huge and must be financed according to a specific method by purchasing gold or making transfers.” Or goods are imported until there is an understanding with these countries.”
He continued, “The United States today prevents dealing with the dollar in official trade, so how can this trade be financed at a time when it is not allowed to deal in the dollar-denominated dinar?
The issue of the platform with Iran and Syria may raise the American momentum and reduce tensions, and thus stabilize the currency.” He pointed out that “to support and strengthen the national currency, there must be a basket of currencies that needs a banking system.
Today, the banking system is due to the mistake committed by the Central Bank of Iraq related to the lack of a platform system with countries such as Iran and Syria from day one, unlike countries in the region such as Turkey and others that have created a platform.”
Gold and remittances, as the banking system was stopped, restricted from the dollar, and eliminated with quasi-sanctions, which created a banking problem, and then introduced banks to foreign investors with another mistake.”
The researcher asked about banking and financial matters:
How are Iraqi banks given to foreign investors?
This matter led, as a result, to these investors transferring the dollar to their bank branches in their countries, to an account in Citibank and JP Morgan, and
their profits will be in exorbitant amounts transferred to foreign countries, as
the issue has begun to affect the sovereign financial security of Iraq.”
He explained, “Iraq needs to build a banking system that strengthens banking standards and
thus enables Iraq to build a banking system that provides a balance for the currency.
Also, the issue of people is not as important in monetary policies as the policies themselves are important,
because the presence of a specific person who follows the same policies and does not have any plan, he cannot benefit from it.
”Rather, there must be a plan related to monetary policy to achieve the
balance of the currency and the banking system,
plans for financing and attracting deposits, and
plans related to granting loans.
Whoever has banking policies will be the best.” https://observeriraq.net/العملة-الوطنية-تتأرجØ-خبير-لـعراق-او/
LATEST FROM JON DOWLING, 6 AUGUST
JON DOWLING
Things continue to heat up! Will Iran take the US offer to remove all the sanctions, or will they go full steam ahead with the attack on Israel? Something has to give soon and it will.
@JonDowling
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JON DOWLING
Folks, this is nothing more than a mere correction. Enjoy the dips on the cryptos and buy the dips while you can! This is for our benefit.
Iraq is pushing forward the oil and gas law into parliament while the world is distracted by the perception of WWIII which will NOT happen!
Our team told you long ago when the HCL law was happening, war would break out in the Middle East. And right on schedule it’s happening. They won’t be able to stop it this time. God is on control and he’s decreed it’s our time! See things with spiritual eyes, NOT physical eyes.
@JonDowling
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LATEST FROM JON DOWLING, 3 AUGUST
https://dinarevaluation.blogspot.com/2024/08/latest-from-jon-dowling-3-august.html
LATEST FROM JON DOWLING, 1 AUGUST'
https://dinarevaluation.blogspot.com/2024/08/latest-from-jon-dowling-1-august.html
RV UPDATE BY JON DOWLING, 30 JULY
https://dinarevaluation.blogspot.com/2024/07/rv-update-by-jon-dowling-30-july.html
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